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2020-12-31-accounts

Trustees Trustees
The names ofthose who have served as trustees
from 1January 2020 until		 the date this report was
approved
are:
Ex officio members ofthe PCC
Licensed clergy Rev'd Roderick Corke (Vicar) (Chairman)
ReVd Jonny Gordon (Curate)
Deanery Synod Members
(elected 2019,died 2020) Mr Peter Young (died July 2020)
(elected 2020, retiring 2024) Mr Serner La Fontaine (Vice Chairman)
Mr Derek Valentine
Mr Nick Jackson
Mr Richard
Wea the rill
Miss Sarah Maxfield-Phillips (as member of General Synod)
Churchwarden s Mr Jeremy Tudge (until October 2020)
Mr Neil Paulley
Dr David Guy (from October 2020)
Ordinary
Members		 ofthe PCC
(Elected April 2017, retired Mrs Hilary Babb
October 2020) Mrs Anne Eglington
Mr Andrew
Horne (Treasurer		 until November 2020)
Mr Nick Maxfield-Philips
(Elected April 201B, retired Mrs Chris Pea rce
September
2020)
(Elected April 2018, retiring Iulrs Rebecca
Cask ie
May 2021) Mrs Rosamund
Panting
Mr Philip Weatheril!
Mr Howard
Wells
(Elected April 2019, retired Mrs Joan Willis
March 2020)
(Elected April 2019, retiring Mr Nick Logan
April 2022) Mrs Glenda Pocock
Dr Alistair Sawers (Secretary)
Mr Jeremy Wray
(Co-opted July 2020 until Dr Thrisha John
October 2020)

(Elected October 2020, Mrs Sarah Goodbody Mrs Sarah Goodbody
retiring April 2023) Dr Thri she John (Treasurer from Noveinber 2020)
Mrs Gillian
Maxim
Mrs Helen Wall
Mr Timothy
Wolff
Principal Officers Rev'd Roderick Corke (Chairman ofthe PCC)
Mr Semer La Fontaine (Vice-Chairman ofthe PCC)
Mr Andrew
Horne (Treasurer		 to the PCC until November 2020)
Dr Thrisha
John		 (Treasurer to the PCC from November 2020)
Mr Jeremy Tudge (Churchwarden until October 2020)
Ivlr Neil Paulley (Churchwarden)
Dr David Guy (Churchwarden from October 2020)
Dr Alistair Sewers (Secretary to the PCC)
Charity number 1128064
Principal address The Parish Office
Church
House
Church Street
Ma Ivem
WR14 2AY
Auditor Jcendall Wadley LLP
Grants
Lodge
71Graham
Road
Malvern
Worcestershire
WR14 2JS
Bankers Lloyds Bank pic
48 Belle Vue Terrace
Ma!vern
Worcestershire
WR14 4CLG
HSBC Bank pic
1Church Street
Malvern
Worcestershire
WR14 2AB

Current financial year
Unrestricted Unrestricted Restricted Endowment Total Total
funds funds funds funds
9en era I das ig na ted
Notes 2020 202Df 2020
E		 2D20
E		 2020 2019
6
ID!HUB!LfKrJLL
Voluntary
income		 270,454 391,000 10,645 672,099 411,446
Incoming
resources
from charitable
activities 23,815 450 24,529 48,794 78,587
Activities for generating
funds 5,011 5,011 24,831
Investments 3,563 3,563 2,614
Total income 302,843 391,450 35.174 729,467 517,458
~E!~
Raising funds 4,715 4,715 43,739
Charitable
activities		 8 318,082 3,016 35,644 356,742 548,217
Tata I resources
expended 322,797 3,016 35,644 361,457 591,956
Net gains/(losses) on
investments 13 32 57 5,659 5,748 13,133
Net (out going)I
incoming
resources
before transfers (19,922) 388,434 (413) 5,659 373,758 I61,365)
Gross transfers
between
funds		 14 40,497 (53,383) 12,886
Net movement
in		 funda 2D,575 335,051 12,473 5,659 373,758 (61,365)
Fund balances at 1
January 2020 99,426 79,984 50,363 85,651 315,424 376,789
Fund balances at 31
December 2020 120 l001 4I5 035 62.836 91,310 689,182 315,424

Prier financial year Prier financial year
Unrestricted Unrestricted Restricted Endowment Total
funds funds funds funda
gene raf designated
2019 2019 2019 2019 2019
6 6
J!IgggakfKiJtU
Voluntary
income		 285.488 6,280 119,678 411,446
Incoming resources from
chants ble activities 44,725 1,771 32,071 78,567
Activities
for generating		 funds 24,831 24,831
Investments 2,814 2,614
Totallncome 357,658 8,051 151,749 517,458
Exuftnttitgmdttb
Raisin g fun ds 43,739 43,739
Charitable
activities		 8 470,678 1,257 76,012 548,217
Total resources expended 515,944 76,0'I2 591,956
Net gains/(losses) on investments
13 15 150 12,968 13,133
Net (outgoing)fincoming
resources before transfers (150,220) 75,887 12,968 (61,365)
Gross transfers
behveen		 funds 14 138,347 (5,474) (132,873)
Net movement
In		 funds (18,667) 1,320 (56,968) 12,968 (81,365)
Fund balances at
1		 January 2019 118,093 78,664 107,349 72,883 376,789
Fund balances at 31 Oecernber
2019 99,426 79,984 50,363 85,651 315,424

2020 2019
Notes 9
Fixed assets
Investments 15 145,344 139,596
Current assets
Debtors 17 21,439 20,078
Investments 18 494,612 129,612
Cash at bank and in hand 37,151 65,740
553,202 215,430
Creditors: amounts falling due within 19
one year (9,364) (39,602)
Net current assets 543,83S 175,828
Total assets less current liabilities 689,182 315,424
Capital funds
Endowment
funds		 21 9'l,310 85,651
Income funds
Restricted
funds		 22 62,836 50,363
llmettt00(B(L(ugtta
Designated
funds		 415,035 79,964
General unrestricted funds 120,001 99,426
535,036 179,410
689,182 315,424

2020 2019
Notes 8
Cash flows from operating activities
Cash generated
from/(absorbed		 by) 26
operations 332,848
Investing activities
Cash transferred
to investments		 (365,000)
Interest received 3,563 2,614
Net cash (used In)igensrated from
investing activities (361,437)
Nst cash used
In financing		 activities
Net decrease
in cash and		 cash equivalents (28,589)
Cash and cash equivalents at beginning ofyear 65,740
Cash and cash equivalents at end of year 37,151

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Unrestricted Unrestricted
funds funds
general general
2020 2019
6
Fun draising events 19,959
Malvern Priory Magazine 5,01'I 4,872
Activities for generating funds 5,011 24,831

Unrestricted Unrestricted
funds funds
general general
2020 2019
6
Inoome from listed investments 1,714 1,666
Interest receivable 1.849 946
3,563 2,614
Raising funds
2020 2019
Fundraisin n
u		 li i
Outreach, fundraising and publicty 38.404
~i~i
Magazine —direct costs 4,715 5,335
4,715 43,739

C harite ble Costs of Total Total
objectives ministry 2020 2019
F 6 6 f
Staff costs 96,900 96,900 101,663
Various projects (breakdown on next page) 35,644 35,644 76,012
Ministry - diocesan parish share 128,100 128,'I00 125,250
Clergy costs 3,572 3,572 5,822
Church
running
expenses		 36,935 36,935 41,456
Church maintenance 7,614 7,614 137,915
Cost ofservices 2,079 2,079 3,292
Miscellaneous
(indu ding room hire)		 6,214 6,214 9,990
Youth and Children's work 107 107 1,447
Promotion
and Outreach		 208 206 864
Olferings
gifted		 150 150 843
Altar supplies
and flowers		 745 745 2,208
Other costs 187 '!87 1,534
35,644 282,811 318,455 508,116
Grant funding
of activities (see note 9)		 21,990 21,990 24.990
Support costs (see note 10) 7,164 7,164 5,722
Governance costs (see note 10) 9,133 9,133 9,389
35,644 321,098 356,742 548,217
Analysis
by fund
Unrestncted
funds
—general		 318,082 318,082
Unrestricted
funds -		 designated 3,016 3,016
Restricted funds 35,644 35,644
35844 32'l 098 356742
For the year ended 31 Oecember 2019
Umestricted
funds -		 general 470,948 470,948
Unrestricted
funds -		 designated 1 257 1,257
Restricted
funds		 76,012 76,012
76,012 472,205 548,217

Various proje cts
2020 2019
f f
Church
flowers		 purchase 433 1,074
Offerings
Gifted		 1,105 6,332
Chnstmas
Outreach		 and weloome days 17 1,950
Church
house		 renovation and repurposing costs 15,373 89
Church
restoration		 costs 1,488
Other costs 3,070
Weddings
and		 funerals 5,498 7,056
Porch room development, cushion replacement 8,
piano repairs 11,102 1,673
Messy church 362 635
Other event costs 24,170
Furtherance
of		 bellrin ging 380
Priory plan 1,764 28,095
35,644 76,012
Grants payable
2020
f		 2019f
Grants to institutions
CliilS 1,610 2,370
Crosslinks 1,200 2,800
CPAS 1,590 1,300
Tearfund 1,520
Bible Society 1,610 3,670
Christians
Against		 Poverty 2,000 4,000
Other grants &f1,000 4,580
Eifewords 1,610 2,3'70
Care for the Family 1,590 1,300
Scripture
Union		 1,590 1,300
Care Trust 1,690 1,300
Open Doors 1,520
Friends of Marsabit 1,520
Care Trust 1,520
Mosaic lvliddle East 1,520
21,990 24,990

Support coats
Support Governance 2020 2019 Basis ofallocation
costs costs
8
Staff costs 5,895 5,895 5,258 Time spent
Ofhce costs 3,854 3,854 4,858 Charitable activities
Subscnptions 1,390 1,390 851
Postage and stationery 1,920 1,920 12
Audit fees 2,730 2,730 2,730 Governanos
A ceouniancy 508 508 401 Governance
7,164 9,133 16,297 15,110
Analysed
between
Chants hie activities 7, 'I64 9,133 16,297 15,110

The average
monthly
number ofemployees
during
the		 year was
2020 2019
Number Number
Ministry and administration
Employment
costs		 2020 2019
8
Wages and salaries 86,112 89,305
Social security costs 2,717 4, 122
Other pension costs 8,071 8,256
96,900 101,683

Unrestricted Restricted Endowment Total Total
funds funds funds 2020 2019
5 2 2
Revaluation of investments 32 57 5,659 5,748 13,'f33
For the year
ended 31
December 2019 15 150 12,968 13,133

16 Fixed asset invest men ts
Listed Cash in Unlisted Total
Investments portfolio investments
6
Cost or valuation
At 1 January 2020 164 55,792 83,640 139,596
Valuation
changes		 32 5,716 5,748
At 31 December 2020 55,792 89,356 145,344
Carrying
amount
At 31 Deoember 2020 196 55,792 89,356 145,344
At 31 December 2019 164 55,792 83,640 139,596
16 Financialinstruments 2020 2019
8
Carrying
amount		 offinancial assets
Instruments
measured		 at fair value through profit or loss 494,612 129,612
17 Debtors
2020 2019
Amounts
falling due within one year:
Grants receivable 10,645
Gift Aid and recoverable VAT 10,032 13,682
Other debtors 762 6,396
21,439 20,078
18 Current asset investments
2020 2019
8
Cash deposits 494,612 129,612

Creditors: a mounts
f		 alling dus within one year
2020 2019
f
Other taxation and social security 1,895 2,103
Accruals and deferred income 7,469 37,499
9,364 39.602

Balance at Balance at Investments Balance st Investments Balance at
1 January 2010 gainslllcssasl1 January
2020		 galnslllcasesi St becember
2020
8
Permanent endowments
Febric Barlow 3,358 3,358 3,358
B.Woodyatt bequest 1179 5,781 1,061 6,862 472 7,334
B.Woodyatt bequest 1181 1'f,546 2,160 13,706 942 14,648
R.P, Petty 1190 3,843 719 4,562 314 4,876
H.W. Williams fund 1366 48,155 9,008 57,163 3,931 61,094
72,683 12,968 85,651 5,659 91,310
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There were no disclosable
related		 party transactions party transactions during during the year (2019-none).
28 Cash generated
from operations		 2020 2019
8
Surplus/(deficit)
for the year		 373,758 (61.365)
Adiustments
for:
Investment
income recognised
in		 statement offinancial activities (3.563) (2,614)
Fair value gains and losses on investments (5,748) (13,133)
Movements
in working
capital:
(Increase)/decrease
in debtors		 (1,361) 40,975
(Decrease)/increase
in creditors		 (30,238) 29,447
Cash generated
from/(absorbed		 by) operations 332,848 (6,690)
27 Analysis
ofchanges
in net debt
The PC C.had no debt during
the		 year