CHARITY REGISTRATION NUMBER: 1128003
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Annual Report and Financial Statements
31 December 2021
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Annual Report and Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the annual report and financial statements | 8 |
| The following pages do not form part of the annual report and financial statements | |
| Detailed statement of financial activities | 18 |
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Trustees' Annual Report (continued)
Year ended 31 December 2021
The trustees present their report and the unaudited Annual Report and Financial Statements of the charity for the year ended 31 December 2021.
ADMINISTRATIVE INFORMATION
Registered charity name The Parochial Church Council of The Ecclesiastical Parish of Wembdon Charity registration number 1128003 Principal office The Vicarage 12 Greenacre Wembdon Bridgwater Somerset TA6 7RD
THE TRUSTEES
Membership
The charity trustees are members of the PCC and are either ex officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules.
PCC members who have served since 1st January 2021 until the date this report was approved, are as follows:
Ex Officio members: Incumbent Curate Readers Churchwarden Deputy Churchwarden
Revd Dr Ed Moll Chair Revd Simon Taylor Dr Andrew Douglass until May 2021 Mrs Gillian McKechnie until March 2021 Mr Paul Hodge Vice-chair Mr Andrew Powell
Representatives on the Deanery Synod:
Mrs Katherine Cannell Mrs Chris Hurst Mrs Sue Dempsey
Elected Members:
Mr Terry Ackroyd Treasurer Mrs Sue Pow Secretary Mr Graham Pow Mrs Jackie Evans Mrs Sally Ackroyd Assistant Treasurer Mrs Coraley Dunn Mr Julian Cann Mr Russell Parsons Dr Andrew Douglass from June 2021
Independent examiner
Mr John Scott 30 Durleigh Road Bridgwater Somerset TA6 7HU
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Trustees' Annual Report (continued)
Year ended 31 December 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a Registered Charity: number 1128003
PCC members are appointed as described above and the Electoral Roll of those eligible to elect PCC members stood at 168 in May 2021.
OBJECTIVES AND ACTIVITIES
Public Benefit
Wembdon PCC has the responsibility of cooperating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical, including the following activities conducted under the authority of the Church of England for the benefit of the public:
-
regular public worship open to all
-
provision of sacred space for personal prayer and contemplation
-
pastoral work, including visiting the sick and bereaved
-
teaching of Christianity through sermons, courses and small groups
-
taking of Christian assemblies in schools
-
the provision of activities for senior citizens and for parents and toddlers - supporting other charities in the UK and overseas
Activites and Priorities
The work of the PCC is supported by that of several subgroups: Fabric, Finance, Safeguarding & Policy, the Parish Centre and Mission. These are all responsible to the PCC and report back to it regularly with minutes of their decisions being received by the full PCC and discussed as necessary.
The trustees (the PCC) confirm that they have referred to the guidance contained in the Charity Commission's General Guidance on Public Benefit when reviewing the Charity's Aims and Objectives and in planning future activities. The PCC is also specifically responsible for the maintenance of the Parish Centre opposite St George's Church, in Church Road, Wembdon. When planning the church's activities for the year, the PCC considered the need for good governance, and have sought to deploy the resources of the church to best fulfil the aims.
The Parish Safeguarding Officer, Dr Anne Reed, confirms that the Council has complied with the duty under section 5 of the 'Safeguarding and Clergy Discipline Measure, 2016' (duty to have due regards to the House of Bishops' guidance on safeguarding children and vulnerable adults - section 9.2A)
The full PCC met seven times during the year - 5 via Zoom and 2 in person. The Standing Committee met twice during the year - both via Zoom. In addition to regular reviews of strategy, finance (including a hardship fund), fabric policy, safeguarding, mission partnerships and work with 0 - 18s, the PCC considered the following four main areas.
- (a) Managing the church's meetings during lockdown and the subsequent return to in-person services and meetings, as government restrictions changed during the covid pandemic.
(b) Staffing: Appointments were made during the year of part-time Children and Families' Worker; Discipleship Development Worker; Ministry Coordinator; and two Development Youth and Community Workers.
(c) Safeguarding: As a response to lessons learned reports by Thirtyone Eight into pastoral abuse in churches, the PCC considered how to strengthen safeguarding in the area of leadership and power. Five areas for development were agreed and a Reference group established to provide additional perspective.
(d) Development of the Parish Centre to create staff offices and to replace the heating and lighting in the Main Hall. Plans were agreed and the work proceeds as funds become available through grants.
The PCC has continued to support the teaching and pastoral ministry of the church, which it sees as the major means of equipping members for fruitful discipleship.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Trustees' Annual Report (continued)
Year ended 31 December 2021
FINANCIAL REVIEW
Total income for the year (including donations, legacies, other income and grants towards the Parish Centre business development programme) amounted to £172,719 (2020 - £162,220)
Donations (Giving)
Total receipts of regular donations (giving) on ordinary unrestricted funds (excl. gift aid) were £86,939 in 2021, up from £81,292 in 2020. This represents an increase of 6.9%.
Grants Received
Restricted income grants by outside bodies to the Parish Centre Business Development programme amounted to £3,000. Grants received to support ministry staff - £14,716. Government grant income in the form of Coronavirus Job Retention Scheme amounted to £3,902.
Detail on Unrestricted Giving
Regular, planned giving by standing orders and envelopes is critical to our mission at St. Georges, making up the core of our unrestricted giving. These regular donations from our members make up more than 93% or our unrestricted income from giving.
The most important aspect of this planned regular giving is by standing order to the General Fund or through organisations such as the Charities Aid Foundation. This provides us with confidence that we can plan ahead to meet our commitments. We currently have 81 regular donors representing 121 members (average 1.5 members per donor) giving by this method.
Total funds raised through standing orders/CAF excluding envelopes were £82,116. This represents an average standing order donation of £85 per month or £1,014 for the year. Thank you to our members giving in this way. See chart below.
| Donors £ |
Total £ |
Av. per Year £ |
Av. per Month £ |
|||
|---|---|---|---|---|---|---|
| 2014 | 49 | 32,910 | 672 | 56 | ||
| 2015 | 60 | 42,666 | 711 | _59 _ | ||
| 2016 | 54 | 49,468 | 916 | 76 | ||
| 2017 | 51 | 51,862 | 1,017 | 85 | ||
| 2018 | 60 | 57,871 | 965 | 80 | ||
| 2019 | 60 | 64,275 | 1,071 | 89 | ||
| 2020 | **81 ** | _73,864 _ | 912 | _76 _ | ||
| 2021 | 81 | 82,116 | 1,014 | 85 |
The importance of Gift Aid Declarations
We have emphasised at recent Annual Meetings the importance of ‘Gift-aiding’ our giving. Members will note that £18,992 of our income during the year was recovered from the HMRC to help fund the work of St. Georges and beyond. Thank you for making the effort to sign up for Gift Aiding.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | ||||
| funds | funds | funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | £ | £ | |
| Income and endowments | ||||||
| Donations and legacies | 4 | 111,999 |
34,253 | – | 146,252 | 147,892 |
| Charitable activities | 5 | 25,581 |
15 | – | 25,596 | 13,020 |
| Investment income | 6 | 11 |
34 | – | 45 | 45 |
| Other income | 7 | 826 |
– | – | 826 | 1,263 |
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Total income | 138,417 | 34,302 | – | 172,719 | 162,220 | |
| ============================= | ========================= | ============ | ============================= | ============================= | ||
| Expenditure | ||||||
| Expenditure on charitable | ||||||
| activities | 8 | 128,352 |
37,460 | – | 165,812 | 171,241 |
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Total expenditure | 128,352 | 37,460 | – | 165,812 | 171,241 | |
| ============================= | ========================= | ============ | ============================= | ============================= | ||
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Net income/(expenditure) | 10,065 | (3,158) | – | 6,907 | (9,021) | |
| ============================= | ========================= | ============ | ============================= | ============================= | ||
| Other recognised gains | and | losses | ||||
| Investment valuation | ||||||
| gains/(losses) | – | – | 164 | 164 | 71 | |
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Net movement in funds | 10,065 | (3,158) | 164 | 7,071 | (8,950) | |
| Reconciliation of funds | ||||||
| Total funds brought forward | 644,953 | 27,864 | 1,171 | 673,988 | 682,938 | |
| ----------------------------- | ------------------------- | --------------------- | ----------------------------- | ----------------------------- | ||
| Total funds carried forward | 655,018 | 24,706 | 1,335 | 681,059 | 673,988 | |
| ============================= | ========================= | ===================== | ============================= | ============================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 17 form part of these Annual Report and Financial Statements.
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| The ParochialChurchGouncil of Th Wembdon StatementofFinancialPosition 31December2021 |
eEcc | lesiastical | Parisho | f |
|---|---|---|---|---|
| 2021 | 2020 | |||
| Note | g | g | t, | |
| Fixedassets | ||||
| Tangiblefixedassets | 12 | 489,140 | 502,493 | |
| HozierBequest Endowment | 13 | 1,335 | 1,171 | |
| 490,475 | 503,664 | |||
| Current assets | ||||
| Debtors | 14 | 13,146 | 12,653 | |
| Cash at bank and in hand | 183,550 | 161,708 | ||
| 196,696 | 174,361 | |||
| Creditors:amountsfallingduewithinoneyear | 15 | 6,112 | 4,037 | |
| Netcurrent assets | 190,584 | 170,324 | ||
| Total assets lesscurrent liabilities | 681,059 | 673,988 | ||
| Netassets | 681,059 | 673,988 | ||
| Funds of the charity | ||||
| Endowment funds | 1,335 | 1,171 | ||
| Restricted funds | 24,706 | 27,864 | ||
| Unrestricted funds | 655,018 | 644,953 | ||
| Total charity funds | 18 | 681,059 | 673,988 |
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Vicarage, 12 Greenacre, Wembdon, Bridgwater, Somerset, TA6 7RD.
2. Statement of compliance
These Financial Statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC's
The Church constitutes a public benefit entity as defined by FRS 102.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value except for the valuation of investment assets which are shown at fair value
(b) Going concern
There are no material uncertainties about the charity's ability to continue.
(c) Judgements and key sources of estimation uncertainty
Given the straightforward nature of the accounts the trustees consider that there are no key judgements or sources of estimation uncertainty.
(d) Fund accounting
Unrestricted funds are available for use at the discretion of the PCC to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the PCC for particular future projects or commitments.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year must be carried forward as a balance on that fund.
The PCC administers one endowment fund - the Hozier Bequest. The capital of this fund must be maintained; only income arising from the investment in the endowment may be used as a restricted fund depending on the purpose for which the endowment was established. In the case of the Hozier Bequest, this fund is for the purpose of providing hospitality for the bell ringers from time to time.
(e) Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
(f) Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
(g) Tangible assets
Consecrated and benefice property is not included in the accounts in accordance with Section 10 (2)(a) of the Charities Act 2011.
Movable Church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property listed in the church's inventory and are not included on the Balance Sheet (SOFP).
Equipment used within the church premises are depreciated on a straight-line basis over five years. The Parish Centre Buildings are depreciated on a straight-line basis over fifty years. Individual items of equipment or furniture with a purchase price of £3,000 or less are written off when the asset is acquired. All fixed assets are initially recorded at cost.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings - 2% straight line Equipment - 20% straight line
- 9 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
(i) Investments
Investments are a form of basic financial instrument and are initially recorded at their transaction value and subsequently measured at their fair value at the balance sheet date using their quoted market price. The statement of financial activities includes the net gains and losses arising on valuation throughout the year.
(j) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
(k) Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
(l) Financial instruments
The church only has financial assets and liabilities that qualify as basic financial instruments and are therefore recognised at transaction price and subsequently at amortised cost. These include debtors and creditors as applicable.
(m) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
| 4. | Donations and legacies | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Donations | ||||
| Planned Giving: General | 77,691 | – | 77,691 | |
| Planned Giving: CAF/QCT Donations | 7,034 | – | 7,034 | |
| Service Offertories (Open Plate) | 2,214 | – | 2,214 | |
| Legacies | ||||
| Legacies | 450 | 2,000 | 2,450 | |
| Gifts | ||||
| Donations | 771 | 124 | 895 | |
| Specific appeals | – | 1,246 | 1,246 | |
| Hardship fund income | – | 1,243 | 1,243 | |
| Appeal (YCW/Ministry) | – | 10,496 | 10,496 | |
| Grants | ||||
| Grants | 945 | 19,144 | 20,089 | |
| Government grant income | 3,902 | – | 3,902 | |
| Other donations and legacies | ||||
| Tax Recoverable (Gift Aid) | 18,992 | – | 18,992 | |
| ----------------------------- | ------------------------- | ----------------------------- | ||
| 111,999 | 34,253 | 146,252 | ||
| ============================= | ========================= | ============================= | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Donations | ||||
| Planned Giving: General | 72,042 | 110 | 72,152 | |
| Planned Giving: CAF/QCT Donations | 6,896 | – | 6,896 | |
| Service Offertories (Open Plate) | 2,354 | 153 | 2,507 | |
| Legacies | ||||
| Legacies | – | – | – | |
| Gifts | ||||
| Donations | 1,600 | – | 1,600 | |
| Specific appeals | 315 | 4,000 | 4,315 | |
| Hardship fund income | – | 8,240 | 8,240 | |
| Appeal (YCW/Ministry) | – | – | – | |
| Grants | ||||
| Grants | – | 21,111 | 21,111 | |
| Government grant income | 11,516 | – | 11,516 | |
| Other donations and legacies | ||||
| Tax Recoverable (Gift Aid) | 19,555 | – | 19,555 | |
| ----------------------------- | ------------------------- | ----------------------------- | ||
| 114,278 | 33,614 | 147,892 | ||
| ============================= | ========================= | ============================= |
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
5. Charitable activities
| 5. | Charitable activities | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Youth Work Income | 202 | – | 202 | |
| Parish Centre Hire | 17,777 | – | 17,777 | |
| Parish Centre Lets | 1,236 | – | 1,236 | |
| Holiday Bible Club | 298 | – | 298 | |
| Fees (Weddings/Funerals/Churchyard) | 4,656 | 15 | 4,671 | |
| Coffee Shop | 1,321 | – | 1,321 | |
| Parish Centre Catering | – | – | – | |
| Photocopy Sales | 16 | – | 16 | |
| Literature/Bible Notes | 75 | – | 75 | |
| Adult Outreach Events | – | – | – | |
| ------------------------- | ------------ | ------------------------- | ||
| 25,581 | 15 | 25,596 | ||
| ========================= | ============ | ========================= | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Youth Work Income | – | – | – | |
| Parish Centre Hire | 5,736 | – | 5,736 | |
| Parish Centre Lets | 472 | – | 472 | |
| Holiday Bible Club | – | – | – | |
| Fees (Weddings/Funerals/Churchyard) | 4,939 | – | 4,939 | |
| Coffee Shop | 975 | – | 975 | |
| Parish Centre Catering | 231 | – | 231 | |
| Photocopy Sales | 104 | – | 104 | |
| Literature/Bible Notes | 206 | – | 206 | |
| Adult Outreach Events | 357 | – | 357 | |
| ------------------------- | ------------ | ------------------------- | ||
| 13,020 | – | 13,020 | ||
| ========================= | ============ | ========================= | ||
| 6. | Investment income | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Dividends and Interest Receivable | 11 | 34 | 45 | |
| ============ | ============ | ============ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Dividends and Interest Receivable | 11 | 34 | 45 | |
| ============ | ============ | ============ | ||
| 7. | Other income | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Vicars Income/Other Income | 283 | – | 283 | |
| Right of Way over Church Land | 543 | – | 543 | |
| ------------ | ------------ | ------------ | ||
| 826 | – | 826 | ||
| ============ | ============ | ============ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Vicars Income/Other Income | 705 | 15 | 720 | |
| Right of Way over Church Land | 543 | – | 543 | |
| --------------------- | ------------ | --------------------- | ||
| 1,248 | 15 | 1,263 | ||
| ===================== | ============ | ===================== |
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
8. Expenditure on charitable activities by fund type
| 8. | Expenditure on charitable activities by fund type | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Diocesan Parish Share (Common Fund | 65,179 | – | 65,179 | |
| Adult Mission/Outreach | 142 | – | 142 | |
| Youth Mission/Outreach | 973 | – | 973 | |
| Missionaries and Charitable Giving | 8,920 | 6,958 | 15,878 | |
| Parish Office Running Costs | 2,911 | – | 2,911 | |
| Church - Running Expenses | 8,809 | 1,517 | 10,326 | |
| Staff Costs | 9,081 | 18,266 | 27,347 | |
| Upkeep of Services | 1,763 | 40 | 1,803 | |
| Other Activities | 85 | – | 85 | |
| Parish Centre Running Costs | 17,131 | 10,679 | 27,812 | |
| Fixed Asset Depreciation | 13,358 | – | 13,356 | |
| ----------------------------- | ------------------------- | ----------------------------- | ||
| 128,352 | 37,460 | 165,812 | ||
| ============================= | ========================= | ============================= | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Diocesan Parish Share (Common Fund | 63,448 | – | 63,448 | |
| Adult Mission/Outreach | 825 | – | 825 | |
| Youth Mission/Outreach | 499 | 41 | 540 | |
| Missionaries and Charitable Giving | 9,202 | 6,496 | 15,698 | |
| Parish Office Running Costs | 3,237 | – | 3,237 | |
| Church - Running Expenses | 13,873 | 4,535 | 18,408 | |
| Staff Costs | 27,934 | 2,623 | 30,557 | |
| Upkeep of Services | 1,999 | – | 1,999 | |
| Other Activities | – | – | – | |
| Parish Centre Running Costs | 11,496 | 11,190 | 22,686 | |
| Fixed Asset Depreciation | 13,843 | – | 13,843 | |
| ----------------------------- | ------------------------- | ----------------------------- | ||
| 146,356 | 24,885 | 171,241 | ||
| ============================= | ========================= | ============================= | ||
| 9. | Net income/(expenditure) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 13,353 | 13,843 | ||
| ========================= | ========================= |
10. Staff costs
The average head count of employees during the year was 4 (2020: 3). No employee received employee benefits of more than £60,000 during the year (2020: Nil).
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
11. Trustee remuneration and expenses
One or more trustees has been paid remuneration or received other benefits from employment with the charity or a related entity.
Stipends and other benefits received by PCC member (trustees) in respect of their capacities other than trusteeship, serving as ecclesiastical office holders through the Church Commissioners (at the expense of the Diocesan Board of Finance) were:
Parochial Minister (Vicar): Stipend - £27,220 (2021 financial year)- £27,220 (2020 financial year); defined benefit pension scheme; living accommodation.
Safeguards are in place to ensure that the employees are not part of Trustee decisions surrounding employment terms and remuneration. Remuneration was paid as part of their employment package and solely for their services relating to employment and not for services as a PCC member.
12. Tangible fixed assets
| Land and | |||
|---|---|---|---|
| buildings | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 January 2021 and 31 December 2021 | 538,213 | 25,811 | 564,024 |
| ============================= | ========================= | ============================= | |
| Depreciation | |||
| At 1 January 2021 | 39,963 | 21,568 | 61,531 |
| Charge for the year | 9,764 | 3,589 | 13,353 |
| ----------------------------- | ------------------------- | ----------------------------- | |
| At 31 December 2021 | 49,727 | 25,157 | 74,884 |
| ============================= | ========================= | ============================= | |
| Carrying amount | |||
| At 31 December 2021 | 488,486 | 654 | 489,140 |
| ============================= | ========================= | ============================= | |
| At 31 December 2020 | 498,250 | 4,243 | 502,493 |
| ============================= | ========================= | ============================= |
13. Hozier bequest endowment
| Other | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 January 2021 | 1,171 |
| Additions | – |
| Fair value movements | 164 |
| --------------------- | |
| At 31 December 2021 | 1,335 |
| ===================== | |
| Impairment | |
| At 1 January 2021 and 31 December 2021 | – |
| ===================== | |
| Carrying amount | |
| At 31 December 2021 | 1,335 |
| ===================== | |
| At 31 December 2020 | 1,171 |
| ===================== |
All investments shown above are held at valuation.
- 14 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
14. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 3,313 | 2,095 |
| Prepayments and accrued tax recoverable (gift-aid) | 9,833 | 10,558 |
| ------------------------- | ------------------------- | |
| 13,146 | 12,653 | |
| ========================= | ========================= | |
| Creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Trade creditors | 2,461 | 1,179 |
| Accruals and deferred income | 2,971 | 2,777 |
| Social security and other taxes | 641 | 54 |
| Other creditors | 39 | 27 |
| --------------------- | --------------------- | |
| 6,112 | 4,037 | |
| ===================== | ===================== |
15. Creditors: amounts falling due within one year
16. Pensions and other post-retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £231 (2020: £1,000).
17. Government grants
| The amounts recognised in the Annual Report and Financial Statements for government grants are as follows: | The amounts recognised in the Annual Report and Financial Statements for government grants are as follows: | The amounts recognised in the Annual Report and Financial Statements for government grants are as follows: |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 3,902 | 11,516 |
| ===================== | ========================= |
- 15 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
18. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| 1 Jan 2021 | Income | Expenditure | Gains/losses | 31 Dec 2021 | |
| £ | £ | £ | £ | £ | |
| General Fund | 87,779 | 113,417 | (89,817) | – |
111,379 |
| Parish Centre Fund | 20,567 | 25,000 | (17,132) | – |
28,435 |
| Ministry Designated | 14,917 | – | (7,351) | – |
7,566 |
| Youth Work | |||||
| Development Desig | 1,637 | – | – | – | 1,637 |
| Church Reordering | |||||
| Designated | 17,560 | – | (699) | – |
16,861 |
| Fixed Assets - Property | |||||
| Fund | 502,493 | – | (13,353) | – |
489,140 |
| ----------------------------- | ----------------------------- | ----------------------------- | ------------ | ----------------------------- | |
| 644,953 | 138,417 | (128,352) | – |
655,018 | |
| ============================= | ============================= | ============================= | ============ | ============================= | |
| 1 Jan 2020 | Income | Expenditure | Gains/losses | 31 Dec 2020 | |
| £ | £ | £ | £ | £ | |
| General Fund | 78,569 | 117,633 | (108,423) | – |
87,779 |
| Parish Centre Fund | 22,156 | 10,424 | (12,013) | – |
20,567 |
| Ministry Designated | 25,053 | – | (10,136) | – |
14,917 |
| Youth Work | |||||
| Development Desig | 1,847 | – | (210) | – |
1,637 |
| Church Reordering | |||||
| Designated | 18,791 | 500 | (1,731) | – |
17,560 |
| Fixed Assets - Property | |||||
| Fund | 516,336 | – | (13,843) | – |
502,493 |
| ----------------------------- | ----------------------------- | ----------------------------- | ------------ | ----------------------------- | |
| 662,752 | 128,557 | (146,356) | – |
644,953 | |
| ============================= | ============================= | ============================= | ============ | ============================= | |
| icted funds | |||||
| 1 Jan 2021 | Income | Expenditure | Gains/losses | 31 Dec 2021 | |
| £ | £ | £ | £ | £ | |
| Hozier Income fund | 158 | 34 | (39) | – |
153 |
| Parish Centre Business | |||||
| Development | 21,145 | 3,000 | (10,681) | – |
13,464 |
| Ministry Restricted | – | 25,212 | (18,265) | – |
6,947 |
| Churchyard maintenance | – | 1,517 | (1,517) | – |
– |
| Church Fabric | |||||
| Maintenance | – | 2,000 | – | – | 2,000 |
| Holiday Bible Club | 517 | 50 | – | – | 567 |
| Hardship fund | 6,044 | 1,243 | (5,712) | – |
1,575 |
| Specific appeals | – | 1,246 | (1,246) | – |
– |
| ------------------------- | ------------------------- | ------------------------- | ------------ | ------------------------- | |
| 27,864 | 34,302 | (37,460) | – |
24,706 | |
| ========================= | ========================= | ========================= | ============ | ========================= | |
| 1 Jan 2020 | Income | Expenditure | Gains/losses | 31 Dec 2020 | |
| £ | £ | £ | £ | £ | |
| Hozier Income fund | 124 | 34 | – | – | 158 |
| Parish Centre Business | |||||
| Development | 15,904 | 16,431 | (11,190) | – |
21,145 |
| Ministry Restricted | – | 2,623 | (2,623) | – |
– |
| Churchyard maintenance | – | 2,035 | (2,035) | – |
– |
| Church Fabric | |||||
| Maintenance | 2,500 | – | (2,500) | – |
– |
| Holiday Bible Club | 558 | – | (41) | – |
517 |
| Hardship fund | – | 8,540 | (2,496) | – |
6,044 |
| Specific appeals | – | 4,000 | (4,000) | – |
– |
| ------------------------- | ------------------------- | ------------------------- | ------------ | ------------------------- | |
| 19,086 | 33,663 | (24,885) | – |
27,864 | |
| ========================= | ========================= | ========================= | ============ | ========================= |
Restricted funds
- 16 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2021
18. Analysis of charitable funds (continued)
Endowment funds
| Endowment funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 1 | Income | Expenditure | losses | 2021 | |
| £ | £ | £ | £ | £ | |
| Hozier Bequest | 1,171 | – | – | 164 | 1,335 |
| ===================== | ============ | ============ | ============ | ===================== | |
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 0 | Income | Expenditure | losses | 2020 | |
| £ | £ | £ | £ | £ | |
| Hozier Bequest | 1,100 | – | – | 71 | 1,171 |
| ===================== | ============ | ============ | ============ | ===================== | |
| Analysis of net assets between funds | |||||
| Unrestricted | Restricted | Endowment | Total Funds | ||
| Funds | Funds | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Tangible fixed assets | 489,140 | – | – | 489,140 | |
| Investments | – | – | 1,335 | 1,335 | |
| Current assets | 161,963 | 34,733 | – | 196,696 | |
| Creditors less than 1 year | (6,112) | – | – | (6,112) | |
| ----------------------------- | ------------------------- | --------------------- | ----------------------------- | ||
| Net assets | 644,991 | 34,733 | 1,335 | 681,059 | |
| ============================= | ========================= | ===================== | ============================= | ||
| Unrestricted | Restricted | Endowment | Total Funds | ||
| Funds | Funds | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Tangible fixed assets | 502,493 | – | – | 502,493 | |
| Investments | – | – | 1,171 | 1,171 | |
| Current assets | 146,497 | 27,864 | – | 174,361 | |
| Creditors less than 1 year | (4,037) | – | – | (4,037) | |
| ----------------------------- | ------------------------- | --------------------- | ----------------------------- | ||
| Net assets | 644,953 | 27,864 | 1,171 | 673,988 | |
| ============================= | ========================= | ===================== | ============================= |
19. Analysis of net assets between funds
The following pages do not form part of the annual report and financial statements.
- 17 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Detailed Statement of Financial Activities
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Planned Giving: General | 77,691 | 72,152 |
| Planned Giving: CAF/QCT Donations | 7,034 | 6,896 |
| Service Offertories (Open Plate) | 2,214 | 2,507 |
| Legacies | 2,450 | – |
| Donations | 895 | 1,600 |
| Specific appeals | 1,246 | 4,315 |
| Hardship fund income | 1,243 | 8,240 |
| Appeal (YCW/Ministry) | 10,496 | – |
| Grants | 20,089 | 21,111 |
| Government grant income | 3,902 | 11,516 |
| Tax Recoverable (Gift Aid) | 18,992 | 19,555 |
| ----------------------------- | ----------------------------- | |
| 146,252 | 147,892 | |
| ----------------------------- | ----------------------------- | |
| Charitable activities | ||
| Youth Work Income | 202 | – |
| Parish Centre Hire | 17,777 | 5,736 |
| Parish Centre Lets | 1,236 | 472 |
| Holiday Bible Club | 298 | – |
| Fees (Weddings/Funerals/Churchyard) | 4,671 | 4,939 |
| Coffee Shop | 1,321 | 975 |
| Parish Centre Catering | – | 231 |
| Photocopy Sales | 16 | 104 |
| Literature/Bible Notes | 75 | 206 |
| Adult Outreach Events | – | 357 |
| ------------------------- | ------------------------- | |
| 25,596 | 13,020 | |
| ------------------------- | ------------------------- | |
| Investment income | ||
| Dividends and Interest Receivable | 45 | 45 |
| ------------ | ------------ | |
| Other income | ||
| Vicars Income/Other Income | 283 | 720 |
| Right of Way over Church Land | 543 | 543 |
| ------------ | --------------------- | |
| 826 | 1,263 | |
| ------------ | --------------------- | |
| ----------------------------- | ----------------------------- | |
| Total income | 172,719 | 162,220 |
| ============================= | ============================= |
- 18 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Detailed Statement of Financial Activities (continued)
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Diocesan Parish Share (Common Fund | ||
| Activities undertaken directly | ||
| Diocesan Parish share (Common fund) | 65,179 | 63,448 |
| ------------------------- | ------------------------- | |
| Adult Mission/Outreach | ||
| Activities undertaken directly | ||
| Adult Outreach/Making Jesus Known | 93 | 792 |
| Small Groups/Christianity Explored | 49 | 33 |
| ------------ | ------------ | |
| 142 | 825 | |
| ------------ | ------------ | |
| Youth Mission/Outreach | ||
| Activities undertaken directly | ||
| Holiday Bible Club | 286 | 41 |
| Youth Work Expenditure | – | 375 |
| Sonseekers Activities | 71 | 93 |
| Children’s Outreach Activities | 616 | 31 |
| ------------ | ------------ | |
| 973 | 540 | |
| ------------ | ------------ | |
| Missionaries and Charitable Giving | ||
| Grant funding activities | ||
| Gift appeals | – | 2,565 |
| Open Doors | 1,380 | 1,380 |
| SWEEPS | 1,920 | 1,800 |
| Tear Fund | 1,380 | 1,380 |
| Others (Support Fund) | 680 | 600 |
| Specific appeals | 1,247 | 1,435 |
| Home mission: gifts and donations | 53 | 874 |
| Reach Across | 2,640 | 2,400 |
| Strategic ministry partnership grants | 866 | 768 |
| Hardship fund grants | 5,712 | 2,496 |
| ------------------------- | ------------------------- | |
| 15,878 | 15,698 | |
| ------------------------- | ------------------------- | |
| Parish Office Running Costs | ||
| Activities undertaken directly | ||
| Printing/Paper Costs | 1,482 | 1,575 |
| Telephone/software subscriptions | 935 | 1,300 |
| Advertising /Brochures/Displays | 494 | 240 |
| Small office equipment | – | 122 |
| --------------------- | --------------------- | |
| 2,911 | 3,237 | |
| --------------------- | --------------------- | |
| Church - Running Expenses | ||
| Activities undertaken directly | ||
| Legal and professional fees | – | 60 |
| Utility Costs | 1,961 | 1,583 |
| Insurance | 1,303 | 1,164 |
| Ongoing Maintenance | 195 | 295 |
| Audio-Visual/Lighting | 2,727 | 1,312 |
| Quinquennial/Reordering Costs | 881 | 10,446 |
| Upkeep of Churchyard | 3,172 | 3,468 |
| Bank charges | 87 | 80 |
| ------------------------- | ------------------------- | |
| 10,326 | 18,408 | |
| ------------------------- | ------------------------- |
- 19 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Detailed Statement of Financial Activities (continued)
Year ended 31 December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Staff Costs | ||
| Activities undertaken directly | ||
| Wages/salaries | 24,294 | 28,273 |
| Employer's NIC | – | 155 |
| Pension costs | 231 | 1,000 |
| Vicar/Asst. Minister Expenses | 1,269 | 1,129 |
| Staff Expenses | 1,553 | – |
| ------------------------- | ------------------------- | |
| 27,347 | 30,557 | |
| ------------------------- | ------------------------- | |
| Upkeep of Services | ||
| Activities undertaken directly | ||
| Fees, Licences, Subscriptions | 1,050 | 988 |
| Sundry Expenses | 331 | 233 |
| Visiting Speakers | 150 | 150 |
| Verger/Sexton/Clerk Costs | 272 | 628 |
| --------------------- | --------------------- | |
| 1,803 | 1,999 | |
| --------------------- | --------------------- | |
| Other Activities | ||
| Activities undertaken directly | ||
| Readers Costs and Training | 85 | – |
| ------------ | ------------ | |
| Parish Centre Running Costs | ||
| Activities undertaken directly | ||
| Parish Centre catering supplies | 16 | 103 |
| Coffee shop supplies | 178 | 247 |
| Development Worker/Cleaner Wages | 15,642 | 14,742 |
| Utility costs | 3,775 | 3,101 |
| Fixtures, Fittings, Sound/Vision | 3,402 | 790 |
| Parish Centre advertising | 267 | – |
| Office Costs | 354 | 325 |
| Bad debt - write-off | – | 354 |
| Cleaning | 214 | 403 |
| Maintenance | 2,000 | 765 |
| Bank charges | 85 | – |
| Insurance | 1,879 | 1,856 |
| ------------------------- | ------------------------- | |
| 27,812 | 22,686 | |
| ------------------------- | ------------------------- | |
| Fixed Asset Depreciation | ||
| Activities undertaken directly | ||
| Depreciation | 13,356 | 13,843 |
| ------------------------- | ------------------------- | |
| ----------------------------- | ----------------------------- | |
| Expenditure on charitable activities | 165,812 | 171,241 |
| ============================= | ============================= |
- 20 -