Charity Reglstratlon No. 1128301 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM LEGAL AND ADMINISTRATIVE INFORMATION Members PDHill G Yat8S R M Whlffin K Bovis Dr C Buckingham J Ellis Revd L Grace Mr G Bateman Mr J Lelll Mrs J March-McDonald Dr M Wild Mrs E Reed Mr P Wormald (Appointed 7 October 2020) (Appolnt8d 7 October 2020) (Appointed 7 October 2020) (Appolnted 7 October 2020) Charlty numbar 1128301 Independent exarninar Hammett Splre LLP 21 Heavitree Road Exeter Devon EX12LD THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM CONTENTS Page Members, report 1-15 IrKlependent examinerfs report 16 ststement of financial actlvlties 17-18 Balance sheet 19 Noles to the flnanclal 81atements 20-33 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT FOR THE YEAR ENDED 31 DEGEMBER 2020 The members of The Parochial Church Council (PCC) present their report and flnancial statements for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting polici8s set out in not8 1 to the financial statements and comply with the Church Repr8S8nlation Rules. th8 Charities Act 2011 arKI "Accounting and Reporting by Charities: Statement of Recommended practi￿ appllcabl8 to charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102)" (as am8nd8d for accounting periods commencing from 1 January 2016) Objectives and actlvltles The PCC has the responsibility for promoting. in the ecdesiastical parlsh of Topsham. the whole mission of the Church, pastoral, evangelical. social and 8cumenical. It also has maintenance responsibilities for the Church of St. Margaret's and the Church Rooms. St Margarefs Churth is located in Fore Stree( Topsham. It is part of the Diocese of Exgter within the Church of England. Th8 correspond8nc8 address is The Vicarage. Globefield, Topsham, Devon EX3 OEZ. The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Margaret's. The PCC maintains an overview of worship throughout the parish and mak8s suggestions on how our servlces can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture. music and sacrament. When planning our activitles for the year, the incumbent and the PCC have considered the Charty Commission's guidanc8 on publlc benefit and, in partlcular. the sp8clfic guidance on chariti8s for the advancement of r81igion. We ty to enab18 ordinary peop18 to live out th61r faith a8 part of our parish communty through: Worship and prayer: leaming about the Gosp81; and developing knowledge and trust in Jesus. Provlsion of pastoral Gare for people Ilvlng In the parish. Missionary and outreach work. To facilitate this wod(. it is important that wo maintain the fabric of the Church of St Margaret's and the Church Rooms. Mlssion Objectlves 1. Pastoral Car8 2. Work with chlldran arKI families 3. out￿aCh THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 irf The events of 2020 need special mention from the onsec for they have radically altered our way of being church: whilst aware of the emerging coronavlrus epidemic in China at the end of 2019, It was in February 2020 that I began to be increasingly concemed about the safety of our congregation and community Ihat we serve. l observed dosely the galloplng spread and also the unique treatment of peop18 who were diagnosed wfth the disease in Britsin. Indudlng the response to an outbreak In a church in Brixham mid February. This alerted me that W8 were dealing wlth something that would be a major mortal threat on an individual arKI communal level, and so I stsrted to tske measures such as withdrawing the communal chalice, suspending handshakes at the d(￿r and in the peace, and equlpplrKJ th8 church with lissue8, gels and bins. My observations as March progressed Intensified concern until just before the natlonal lockdown on the 23rd of March. I decided to lock both churches in our mission communty- This was prompted by a distressing discussion I had with an ICU consultant working in North London who is linked with our mission community. The speed wlth which these events happened and the intensity of the trauma that we have experlenced Individually and collectively may In some ways be hard to comprehend twelve mnths lat8r. as we are resilient and have adapted well as families, community, thurch, natlon: nevertheless, we need to acknowledge that we are yet living through collectlve trauma and this has taken a terrible toll on us all. In tsct, at the time of wrltlng In March 2021, we are still fresh from the exceptlonally distressing experien￿ of the third wave of this pandemlc; drastically increasing a death toll that was already horrific; knowledge of awful experlences within our hospitals and care homes, for both patientslresidents and staff; and the excessive stretch on our lives as we have k)cked down repeatedly to ty and C(￿￿1n the casualties, causing delays i treatment of other Illnesses, financial insecurity and hardship, and isolation that has created a mental health burd8n common to every household, regard18ss of d8mographic. I make no apologles for spelling out the unique circumstsnces that 2020 presented us with, as It puts Into sharp reli8f th8 value of the church in being abl8 to reach out to one another and our neighbours: in pastoral car8, incr8as8d communication and connectlon, and adapting our worship and 0th8r Input so that conn8ction could be maintained and d8eP8ned as w8 travelled through 2020. The watershed of the first lockdown ptssented an urgent thalleng8 in terms of that worshlp, pastoral care and managemenL The first week. and weeks that followed that extreme event for us showed the very b8St of our worklng tog8th8r as a mission community, St Luke's and Sl Maigaret's pulling tog8th8r immediatdy. I met with the wardens within that first week. and then weekly throughout the lockdown, and their steadin8SS, availability and kindness at that point was so strengthening. Supported by Keir Bovis, warden from St Margaret's, I was able to quickly leam to OP8rat8 Zoom. I wa8 also supported by Marcus Bartlett, from the Northcott Theatre, to gain confidence in broadcasting. and within the week was ready to Zoom IN8 our first Sunday serrfice. This was a hug8 achievement because it has meant we have not gone a singl8 Sunday without a live Sunday worship offering throughout 2020 and into 2021. The first Sunday Holy Communion on Zoom saw over 70 households joining in, and the relief of s88ing one anoth8r safely on screen was as palpable as the content of worshlp, THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Of course, what had enabled so many people to partlclpate (a number that has Inevltably dropped, but whlL* remains steady at around the 50 household mark), was that within that first week a huge arnount of work went into quickly compiling datsbases lo reach as many in our congregations and communlty as possible. Thls hlghllghted an organlsatlonal defiat that we l(new already exlsted - there was no one central database or systemlper30n to operate it, which actually in tum h￿hlIghts the debt of gratitude l ow8 to all those wtK) helped me pool the Informatlon that we dld have. to spread the word. to offer people connection and check that folks were okay: the wardens, Mare8 Day, Caryll Ingerslev, Keir Bovis, Jenny Ellls, and In partlcular Nld(y Holt and Revd Anthony Appleby who worked very hard on ontralising a database. Then those who immediately Swung into 8 concerted effort to cover the pastoral ground.. C8ry118nd Mare6, Glll Yates. Revd Janlce Cackett. June Swan. Revd Jullet HO￿00d. Sandra and Ken Greedy, Rowena Burrow. Revd Tony and Dorothy Raven, Revd David and Marga￿t Byme, Revd Peter Ingerslev, Jo Shaw....- The list is long and my sincere apologies for anyone missed out.. everyone is so very much appreciated for loving our neighbours when it was so very much needed, mor8 than ever before. From the first day of lockdown l also began a daily refledions mailing. which was intended to encourage people with some thoughtful content, whllst achlevlng the prlnclple goal of keeplng up a dally Ilve connection with the church. emphas5slng that whllst the church bulldlng doors were dosed, the church had never been more open to the needs of its people and nelghbours. Many people inltlated conversations with me prompted by those daily mailings, and also bought th8ir own friends or families into the cirde of connectlon. By the end of that first week, I had a large datsbase whlch has steadled at 103 people from a wss sectlon of church and various communltles receivlng dally reflectlon mallings. Slmllarly we were able to send cxrt invitations to people for services. now mid week as well as Sunday, to approximately 180 households. Worship has remained steady and falthful, and as the n88d aros8 to in¢xeas8 access for those who were not able to log In online. Peter Ingerslev valianuy worked with Keir to enable acc8SS to Zoom services and meetings using a landline telephone. Throughout the ensuing year, the Zoom offering of church in seNI￿s, meetings (PCC and APCM, as well as other organisation21 meelings), and study groups (there have been three study courses and two community connection groups offered with good participation), these have kept our mission community united, active. caring, flourishing In lots of ways. I was aDI8 to continue meeting wftn th8 conflnnation group on Zoom, supportlng the young people as they navigated the transition from primary to secondary school, l also was in weekly onlin8 contsct until July with all lh8 families on a database put together from that first week of lockdown: and since September, I have had at least mnthly onlln8 contact wlth th8m, as well as a lot of pastoral support wtth individual households in need, Many households from well beyond our mission community boundaries have joined us for 68rvices and study groups, from Yorkshire. London, Suffolk, other parts of Devon. even Toronto once. With the joining of lfjt Reynolds and Micha81 Horwood in particular to the tech t8am. alongsid8 Keir Bovis, we have been able to offer consistent, steady worship through Zoom on Sundays, induding creative innovations of recordings and use of web based material - songs, music, t8Stimonies, both p8rsonal and for chariti8sI communities) - this has been an incredibly creative year for developing litijrgy and teathing content within our mainstream worsh5p. St Margaret's has also been able to continue its choral tradition, with Zoom evensongs, carol servi￿S/cOn￿rt and weekly choir practices highlighting the commitment and community that revolves around this aspect of our churdi. Great thanks go to Tony Yates for CA)ntinuing to lead, and Tony Raven arKI Sally Ewing who have enabled those offerings. Also, with the steadiness and generosity of, in particular, Petsr Ingersl8v and Tony Raven, they have joined me in being able to offer mid week services and gatherings throughout 2020. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 We were also blessed by the fact that Tony Raven had, prfor to the pandemic. been puttlng In a huge amount of time Into d8V81oping our online presence, most particularly through the Church of England website: A Church Near You. This was poised and ready to become our prlnclple platform on which to post news and Infonnation that was open to the general public, from the very first day of lockdown. I have again a huge debt of gratitude towards Tony. and then latterfy his fellow edltors Nicky HolL Ken Greedy and Gill Yates. For the mission community to have a sing18 point of communlcatlon when 8veryone was conflned to their hous8s for so many months of the year has been Invaluable; and the banners I had made for the outside of the churches to vlslbly communicate with passers by or callers on the churth, could immediately point them to this platform. The essentlal nature of church work In organlsation and communlcatlon was magnified In an urgent and almost exaggerat8d way in those first weeks of lockdown; and thi9 is a lesson that as a mission community we must take to heart as we look in 2021 to build back better as the pandemic hopefully beglns lo wane. Of course not everyone was able to partlcipato In online church. We also Identlfied those who were most at rlsk and We￿ not accesslng our online presence, especially in terms of s8rvic8s and other gatherlngs households who weren't, or didn't want to be, technologlc811y resourced or competent: people already with mental health challenges and were In lone households; families with smaller chlldren. This formed the core of my thinking as to who to prlorltlse for face to face provision on the churches started to open agaln. Spedal effort was made to deliver resourc8S to those households and intentionally check in with them to ensure they were faring as best as they could. Once th8 churches were given p8rnilsslon to reopen in June. rlsk assessments arKI modification8 Ware mada to ensure the churches would be safe to thos8 Visiting for prlvate pray8r. For St Margareys thls Involved separate entrance and exit doors, with the entrance leading directly to enhanced access to hand hygiene, and then into a one way system; socially distanced seating patt8m; then latterly in the year, face coverings. The team of volunt88rs who quickly volunteered to oversee these mitigation m8asures during public openlng have enabled St Margaret's to b8 operi to the church congregation and general publlc from June to this day: Min Wild, Elizabeth Reed, Chris Brightman, Lesley Griffith, Sue Perry, Jules Pugsley. Emma Voutsis, Laura Hill, Juliet Horwood, G80ff Bateman. Daphne Burdick. thank you. Private prayer time openlngs 8very Monday and Frlday th8n dev81op8d into an offering of a simple servic8 of prayer in thurch trom September onwards, wrthin those week times, ano also the att01t￿n of an 8am hoty communion service. Great thanks to Janice Cackett and Juliet Horwood who helped me deliver these communion services, and to Elizabeth Reed and Juliet Hoiwood who hav818d th8 mid week services. These serdices wer8 regularfy attended by their own partI￿lar congregations who have been appreclative of the chance to worship in church in diffe￿nt ways. In addition, the church has been used for re￿rdIngS, induding choir recordings, that W8r8 then put into Sundays: and also recordings of readings and pray8rs for special services for P8nt8COSt, RerneMbran￿. Advent and Christmas. It was a particular privilege to have the Royal Marin8s band record a version of O Holy Night, that was used several times in our online services at Christmas. Dwelling on festival services, I was also able to organise and lead an irKhurch Harvest Festival thal was popular with the families in October, and then a well attended Chrislingle service, followed by a widely appreciated Nativity trail for families on Christmas Eve. Sandra Greedy gave me a good deal of organisational assistan￿, to allow a booking system for these S8rvices and event; and indeed Ken and Sandra Greedy. from St Luk8's church, have been giving consistent support on bookings for baptisms, weddings and funerals throughout last year in St Margar8t's. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 I thank them both deeply for thls. And also speaking on behalf of the mlssion communty, huge thanks as they have taken on board the new online organisatlonal tcx)I: iKnow church, and have been making inroads Into using It, Securfng a firm foundation for building back better In our church organisation and communication. As a Mlsslon Community. I have been offering. face to face, since September, weekly groups for families of small children - Mini Messy church and also the Klds Matter parenting programme. I have been humbled by stories of parents coping with house moves, job pressures. homeschooling their older children whilst also navigating child birth and infant rearing in thls most difficult of years. For expediency I have based these offerlngs at St Margaret's, and the majorlty of famllles wtK> have accessed this provision come from the Topsham area, nevertheless there have also been several families that have walked from St Luke's area to attend. These offerlngs were allowed to ¢￿tinue throughout lockdown condltlons, because families with babies and very young children are dassed as extremely vulnerable. This has been one of the most rewarding OLrtward reaches we have managed 8s a Mlsslon Comrnunity. and when I had to change qulckly the offerlng for families on Chrlstmas Eve from a crlb servlce to a nativity trail, because of the rise of the new covid variant. there were fffty households that passed Ihrough the church over the course of an aflemoon. Another additi'on to our early years provision on slte has been the estsblishm8nt of the Little Ducklings nursery In our parish rooms. The antecedents for thls stretch back prior to the pandemic, when Donna May, who owns and manages Little Dud(lings, approached me about possibilities of using the parish rooms for chlldcar8.1 am delighted that thls has now come into fruition 8t such a tlme of urgent need for young families. The rontal from this endeavour has also been a lifeline to the church as we have experienced significant downtum in giving becaus8 of disruption to our usual sources of income. Looking at th8 olher 8nd of tha aga range, those too frail or 8ld8rty or sick, y8t indep8ndent in their own hous8hold, have been given home communion, most notably Revd Chris Knott and a pastoral c¢)nnection of Revd Janice Cackett's. Our ability to reach all of our cherished folks who would hav8 ordinarity be receiving home communion has however either been patchy or just not allowed. for example thos8 who are in residential homes or getting home carers regularfy. and so minimising other threshold crossings. I do know, how8V8r, that the congregational community of St Margaret's is strong pastorally, not just In a centrally organised but also In an informal way . and that the n8t￿orkS of conn8Ction, old and new. have stood the mutual care of households in extraordinary good stead. Thank you In particular to those vtho have kept in touch with p80pI8 for whom tedinology is not something they can or wish to embrace, and so have needed t818phone and printed material contact. Thank you to Juliet Horwood. Janice CacketL Gill Yates. and also to David and Margaret Byme for hand delivering copies of the monthly newsletter. It has been palnful to S88 St Margaret's locked for muth of the week, and it has been heartening to be creative in th8 use of the grounds - both the cross that Juliet and Michael Horwood wt up, and also the angel of the south statue Installed by Lov8Topsham have attracted daily many people to cross the threshold of our site. Also, we were able to open the church not just for Ihe private prayer and services outlined above, but also for three concerts - Div8rtimento in the autumn. and Two Violins on 27th December (same concert delivered twice in one day to reduce overall audience f(x each one). Thesa wer8 longed for live music opportunities in a d8s8rt of recorded music only. We were also able to offer the thurch for refreshments after funerals for a short perlod before th8 thi lockdown. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Being able to do these safely required a lot of hard work on my part, not only in person orientating Ihe bookers to covid safety. but personally supervising the occasions, and caretaking - openlng and locklng; supplylng ppe and deaning. In fact, the majority of the site management In practlcal terms has b88n fulfilled by m8. as the organisation and communication. Again, I hav8 been well supported by Indlvlduals such as Keir, who as ward8n has particularty been generous in responding to the needs of Llttle Ducklings as they adapt8d to their site. Tony Yates has helped clear out the parish rooms. as did Keir with some assistance. I have also been supported in the organisation and communication side by Sandra and Ken Greedy. Nevertheless, weekly, thls part of rnanaging the slte and th8 varlous servlcesl8vents has been a conslderable arKI conslstent added workload. As we face opening out fvrther, there is an urgent question of sustalnabilty In terms of fvlfilling this function. The govemance of the site also presented some great thallenges, particularly with differing opinions upon where dedsion making lay. This has provided the opportunlty to undertake some structural refomi within the PCC, along the lines of what the arthdeacon of Exeter had already begun to recommend pre pandemic, with ell groups associated with the PCC being voted In October to b8com8 task 0ri8nt8d. rather than committ88 oriented. There are strong lessons all round to be leamed from 2020 that will inform our ongoing journey as church into the rest of 2021. We are bless8d to have a PCC with a breadth of experlence. and an ethos Ihat wlll bulld trust and t8amwork into the future; qualities Ihat we wlll need to lead into this year. Greal thanks also go to Jenny Ellls, tsklng over from Patrick Beasley. as acting treaSu￿r for steering us through such potentially tricky financial waters; along with the guidance of Elizabeth Anderson, dI0￿san rinanclal support officer, who did a financial consultation In Aprll, hlghllghtfjng where the potential problem of the recurring deficit may lie. and pointlng us In a dlrection that will hop8fully 8nabl8 th8 PCC to be even llK)re engaged wlth the flnandal health of the parish. Thanks also are due to June Swan whose quiet and conslstent work around planned giving has k8Pt that steady income available to us. Ther8 is also a moment to celebrate what Is so very good atx>ut th8 Christian community that is centred upon St Margaret's, Topsham. and for that reason I make no apologies for the length of this extraordinary annual report. A witness to worship and service at the heart of the cornmunlty. The personal faith of us all will have been variously stretched or deepaned, or both, as wa have witnassed scenes and heard of experiences, and walked with family and neighbours. all through the hardest of times. And I hope that it is that very faith, in God, In the communlty as the Body of Christ. which has sustained you. and will continu8 to uphold you, as we tum our faces as church to a new horfzon. I have b88n inspired by the Mission Communlty thls past twelve months, and th8 people of GIMJ who have generously continued to be open as church, as the body of Christ, 8V8n whilst we have had to decentre from the buildings as our main focus: you have certainly given me the strength to continue Ihrough the m(Ist Intens8 year of my 23 year priestly ministry. I particularly thank Keir Bovis and Jenny Ellis. ward8ns. and also Gill Yates as PCC secretary, for their exceptional support and service. and extend warmly my gratitude to the whole of the church also. Revd Loulse Grac8 15th March 2021 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 As highlighted In last year's Churchwarden Report, late 20191early 2020 was significant as the end of a period of relative nomiality at St Margarevs Church. Following guidance issued by UK Govemment and then frorn the Diocese In respons8 to the global pandemic, St Margaret's was closed to public worship from the end of March 2020. This marked the start of a challenging period in many ways for Individuals, no longer able to acc8SS the Church as a plac8 of public worship and private prayer. Alongside this, Government restrictions on funerals, weddings and baptisms resulted in increased anxiety and stress for many who would look to the Church for support in tying times. Churd) finances wer8 subsequently severaty impacted through the loss of regular income from Con￿rtS, together with the absence of a r8gular plat8 collection. Clergy and congregatlon responded positively to the challenges, embracing the opportunities of Zoom live streamlng of services. Many rnay have recognised that the use of recorded choral music by our own choir, alongside the varled online digital resources enhanced our regular services. For others wlthout access to computer devices, broadband or the technical skills to operate them, it became a frustrating perlod. In recognition of this, th8 St Margaret's undertook limited opening of the Church for private prayer at the earti8St opportunlty It felt it could do so safely. At the time of writing. we are still unable to worship collactlvely but we pray that with time, we will be able to gather together again for worship. Post-pandemic w8're confident St Margar8t's will be well placed to offar varied s8rvices and with our new Cl￿fidenCe In technology, reach out to others in the communty and beyond for collective worship. We wish to thank retlred clergy and the congregation in St Margarefs and St Luke's Churches who hav8 collectively supported us in worship physically and virtually throughout the past year. Kalr Bovls and Jenny Ell18 15 March 2021 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 li The year has s88n little activlty, but the following is worthy of reporting. With the help of several (and addltional lighting, rope and power sockets), we had Ihe WIFI antenna installed free of charge at th8 top of the tower. It has b88n used several times very successfully for Ilve broadcasts from inside the church. The tgmp)rary 12-month licence from th8 Archdeacon will ne8d to be re-applied for in August 2021 (St Margaret (Church Code 615028). List B matter (referenc8 2021>054029)). A treels to replace th8 Ash tree felled the year before is being considered in spring 2021. We should continue to revl8W th8 proposals of the 2017 Qulnquennlal. The nexl Qulnqu8nnlal is due in 2022. Slipped slates have not been addr8ssed yet due to the high mobilisation cost. The repair to the guttering near the southwest door is in hand for Spring 2021. l think many people enjoyed aoain the bright shining Advent stars in the upp8r v8Stry and to the top of the tower- thanks Maurice. Our electricity continues to be 100 % generated from renewable sources through the Parish Buying Energy Basket where w8 also pay for the gas we us8. We have deferred the gas boiler s8rvlce to early 2021 due lo Ihe reduced usage (now s8rviced 01102121). Mor8 than 8V8r finances limit our actions and the good will of many should rbot be overlooked. Peter Hlll 2020 proved to be a challenging year financially , as well as in other ways. The Covid pandemic, as well as preventing many of the fundraising activities which would normally take pla￿ each year, and greatly reducing the collections at services. highlighled some on-going weaknesses in our financial position. In summary. our regular income has been insufficient to COV8r our operational expenditu￿ for the last few years, and w8 have had regularly to sell capital. As a consequence our capital resources are now seriously d8pl8t8d. standing at around £70.000 at the end of 2020. having been closer to £90.000 at the start of the year. This reflects a sale of £15.000 of shares during the year, as well as fluctuations in share value. We We￿ able to take advanlage of the Govemment's Yurlough" scheme which has been of real assistance; and a number of people have led fund raising initiatives O￿lIne. The slngle largest Item of expenditure w6 have each year is the amount we are assessed to pay to the Di0￿san (x)mmon fund (prevlously referred to as th8 Parish share). In 2020 we were assessed to pay £84,146: at the end of the year the sum of £23,110 remained outstanding and the PCC a has agreed that we should not sell any more of our capital at this stage, but should conc8ntrat8 on tylng to pay our 2021 contrlbutlon. assessed at £81,507. That wlll be a challenge. I wish to thank 8v8ryone who has cx)ntinu8d to contribute flnanclally to the Church throughout this difficult period, partlcularly those who hav8 sign8d up to rnak8 regular commitmenls. I would also Ilke to thank Patrick Beasley. Roger Prouse and Josi8 Walledge for all their wactical SUPFX)rL Jenny Ellls THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Social events were sarlously curtailed in 2020. The Bath Soclety delNered Evensong on 26th January. followed by a concert and was welcomed Into the church by Tony Raven. Divertimento gave a concert in February. Refreshments were provided by St. Margareys and any donations went to into church funds. There was a second concert in the Autumn, but no refreshments allowed. The plan is for this to be the pattem for the future: to have a team of volunteers to provide hospitslity for any event in church. where required. Th15 would be part of our Outreach, the church providing a presence at non- church socaal events. Thls plan is on hold. How we go forward wlll depend very much on govemment guldance and prevailing conditions. Gill Yat•s Meelings were s8ver8ty (xjrtailed in 2020. A newsletter was sent out in August and a meeting held on Zoom in October, at which new curat8S Were W8lcom8d. Andrew B8an8, Archdeacon of Exetsr was the speaker and talked about hls experlences in his first year. He talked of the drfficulties faced in the first lockdown. wh8n his family had been here for only 6 months. He highlighted the posltives of new ways of working and Outreach. We need two new representatives to serve. Glll Yatos Requests for anyone wtshing to join the electoral roll were on A Church Near You arKI in the weekly newsletter. The Electoral Roll does not affect our DIoc8san share, and is a voluntary choic8 of congregants who wlsh to register. There ar8 curr8ntly 91 on the roll. of whom 15 r8side outside the parish of Topsham. Th8r8 have been 7 new applicants. As we were meeting on zoom. safeguarding prO(￿dureS for keeping children and young people safe in online sessions were learnt and implemented, both for services and also confirmation sessions. The safeguarding officer also bought considerable skllls and 8XP8rience to bear. as she had reopened five schools. on reopening the churches. so that P80ple were as safe as possible regarding virus risk. There were no other safeguarding issues during th8 year. Jun8 and Janice have continued to do DBS ched(s and keep records uTrdated. The church websit8 contsins all the appropriate safeguarding information as required by The Church of England. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 2020 started well for th8 Topsham bell ringers with our annual dlnner, follow8d by a couple of quarter peals, includlng a first for Vicky. Followlng a tower dean up In March, national events inevitably took over and throughoLrt the first lockdown, the band kept in touch via email and Zoom Qglls. Ringing of sorts returned in May with indivlduals chiming on a Sunday uslng the Ellacombe chlmes. which had fortunately been kept In good order. In July, after careful assessment and following the government guidelines, It was de(aded wrth the church that the tower could be partitioned into three sections to allow for safe ringing. Having a couple of families that ring meant we were able to ring four bells on Sundays during the summer despite church services remaining onllne and w8 had many comments of how much the sound of the bells meant to the local resldents. In addition to Sunday rfnging, the band met for a dlstanced walk in July and in August we were able to support the town's commemoratlon of VBVJ day. In October, we had the sad duty of ringing for Roy Berry's funeral, prevlous captain of the tower for over sixty years. The bells were rung before and after the servi￿, and a proper rlnglng celebratlon Is planned for the future. Shortly before Remembrance Day. the bells C8as8d agaln, though the Ellacombe chimes were rung for Nov8mb8r 11th and this prov8d to be the last ringlng in 2020. During the year, when circumstsnces have allowed, work on our simulator has ￿ntinUed and this will prove invaluable when we are able to return to ringing In eamest. Matt Pym The Choir's year b8gan wlth an Epiphany Carol Service. After that gverythlng went Very well - although I was away In New Zealand from early February until the Covid lockdown. Matthew Wrighl, Tony and Do￿thY Raven were In charge for those two months. On 27th February I received a blrthday recording of "The Lord Bless You And Keep You" made by the Cholr after the Sunday mornlng service. An excellent birthday present! Durlng lockdown rnembers of the Choir - in six8s - met ten times to make recordings for our zoom services. We met in the back diurchyard, by the church room, until late autumn, when we had four sessions in church. Th8 last sesslon was on 10th December. From April between 8 and 14 members of th8 Choir have been meeting for a zoom choir practlc8 every Tuesday moming. Sally Ewing has become expert at finding YouTube dips of famous Ghoirs for us to sing wFth (muted!). Sally is excellent at adding the sheet music to the clips, so we can maintain our music-reading skills. Tony Ravon. with holp from Anthony Appl•by. has lod a monthly choral 8v8n60ng on zoom, with Sally's export help. The Cholr Is looklng forward to m8etlng in the flesh before too long. We hope to Welcome new membersl Tony Yates Ch rchc nin Although I had a rota for 2020. we were not far into it before we went into the first lockdown and the church's opening was severely limited. Sorne of the deaning team were shlelding but I managed to find 8 stalwarts who were willing to carry on and we had a new rota- to clean the church once every 4 weeks. Thls has worked well (with appropriate precautions to ensure that we were all kept safe) and l am very grateful to everyone who has kept it running smoothly. At the moment we are stlll dolng a dean every 4 weeks but l am hoping that after Ihe magic date of 21st June we will be able to go back to a once a week clean. l am also hoping that we might be able to have a big dean at some stage too, but I don't want to get too ahead of myself. l am hoplng Ihat 8veryone on th8 team ￿11 be wllllng to carry on, but at present everythlng s88ms uncertain so I mlght well be looking for new team members on8 W8 are back to normal. Sue Wllklnson• February 2020 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 A year ago Anne Plested's vlsa for her work In Bethl8h8m had just been r8n8W8d for 9 rnonthg. wfilch seemed Ilk8 a real answer to prayer as in 2019 she had only been allowed 3 month tourist visas. Sadly. though, a broken ankle and then Covid serlously limited Anne's activities. With the College closed her teaching was able to continue on-llno. but her hopes to teach English at the Cathedral School in Jerusalem were dashed after just a few weeks. In the autumn she came home to Som8rs8t bul, ona of th8 things we h8ve gain8d from Covid. she has been abl8 to continue her College teathlng on-line from there, and also to off8r admin support to the Coll8g8. Israel has been a leader in the global vaccine roll-out, but this has only marginally benefitted th8 Palestinians. Anne is determined to return to Bethlehem. but wlth a worsening Covld situation in th8 West Bank, arKI ongoing int8mational travel restrlcaions. it is difficult to predict when this will hap￿n. CMS'S work in 50 countries around the worfd has been affected In different ways by the pandemlc. St Luke's support Ben and Katy Ray, who head up a craft c8ntre employing dls8bl8d and marginalised adults In Tanzanla. They and their young family have been able to slay on, even though their workshops are closed, while employees have been working from home, making PPE for use in Tanzanian hospltals. A wonderful Christian Véits)ess In the circurnslances! While other charities have struggled for funding, CMS'S Dlrector of Finance wrote recontty "Our supporters and their response to our appeals have blown us away. l am delighted to say we are forecasting to come in dose to break even on our general furKI this year." Let's continu8 to suppcwt Anne, the people of the W8St Bank. and CMS with our prdyers and with generous giving. Davld Byrne Well, what an interesting year that tumed out to be. As we reported in March 2020, Covid arrived and the challenge was sat. How do we progress Estuary? Not to be deterred, Jose ably continued to draw up each issue for printing whilst I collated Items on my side of the riv8r. The printers soldlered on despite their own problems. with our contact Neil being furlough8d. Rachel Nlchols and José set about arranging receipt of the printed cotm.es to Rachel's house In Vlctorta Roaa. D18mt)utor3 came on rotaiion to plck up and dellver coples to the residents of Topsham, which they diligently did, com8 hlgh water and low. ttssinq: José has continued to chase and ensure our advertlsers stay with us; and despite losing some to Covld and others who chose no longer to advertise, seven new advertisers to date have taken thelr place, though not all are wanting a run of 12 insertions. We will accommodate them any way we can rather than tum them away to go elsewhere. The gauntlet was sent out for a new distributor followlng the sad death of Pat Quaife, and Freddie and Pam Bush took up the cudgel. Arrangements were drawn up with the Church's assistan￿ for dellv8rles to be resumed at the church albelt to the churth rooms rather than the church itself. Freddle and Pam drew up spraadsheets of the dlstributors with Ilsts of each of their customers to give an accurate picture of Estuary distributionlsales. All was sailing along nlcely for the New Year when lockdown three arrived. Looking to the future Freddie and Pam - with Input from ourselves - are drawing up a flyer for distribution wlth a free copy of Estuary {using loftovers from the previous months. issues) all over Topsham. Fredd18 has ascertained that many streets in Topsham have no subscrlbers to Estuary at all. The proposed door-drop wlll tsrget these as well as the new properties springlng up in Topsham, all with a view to gainlng a whole new populatk)n of readers. It is hoped that some of our volunteer delivorers will help Freddie and Pam to ￿alk. the town to do the deliveries. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 roducti Neil Robson has continued to do an excellent job for us despite being reduced to a part- tlme posftlon at Brightsea. HIS Input is invaluable for creatlng and maintaining the professional look of Estuary. He is curr8nty looklng Into how Estuary can be o)nverted to a flip and tum digital publicatlon to post on the web. We'll report progress when possible. Finally, we would like to say thank you to Jenny Ellls for her support and for r8vivlng the domiant Estuary Edltorlal Board. this gives us encouragement that we are not alone and that back up is there should w8 need That condudes the 202(k21 report from the Editors of Estuary. DI Trout and José Northey istribution Mana At the beglnnlng of 2020 there were 29 delIVe￿rS covering Topsham from Tresillian Gardens to Newport Park and a new deliverer and 11 subscribers on EX111. Durlng the period April to September three new deliverers replaced those retiring. The three retiring deliverers, Mary Tamblyn, Jean Henderson and Loma Beeson had all been dellverers for many years, About 430 subscribers paid their £8 subscription at the beginning of 2020.. Shop sales which indude Th8 Hub, Topsham Museum and St Margaret's are part of the print run of around 700 copies each month. Pat Quarf8 had organised the distiibution for some years wlth 8normous efficiency and has been highly respected by all the deliverers for her care and consid8ration in keeping in louch with them. Sadly h8r health did not permit her to contlnue in March and she sadly dled a few months latar. Rachel Nichols temporarily held the rol8 together, dlstribution for tha combined MarchlApril edition and then rnonthly until August while St Margaret's has been closed, successfully happened using a nearby driveway and the boot of a car for collection. Dellvergrs were issued wfth dlsposable gloves and all were able to make Ihelr dellverles. The Sept8mb8r and October distrlbutlon took place from the church rooms. Pat's plea for a replacement organi58r in th8 April 2020 Issue resulted in 2 appllcants for the job and Freddle and Pam Bush were appolnted In August to take up the ro18 In September for the October Issue. The church rooms became unavailable. and pennission was glven to use the social area of St Margaret's as the dlstribution centre, and that Is likely to continue until the church can be fully reopened. On taking over from Rach81 Nichols. we found that there was no ￿ntral database of subscribers that could be used as a backup to the delivery lists held by each subscriber. A computer database is now in place, and Is used for the preparation of the monthly delivery bundles. We also ascertained that approximately 200 copies of the magazino remalned unsold each month. and we decided to formulate a marketing plan covering the whole of Topsham in order to stimulate more regular subscriptions. That plan includes the production of a flyer designed by the editors. to be delivered tog8th8r with an unsold magazine, to approximately 1700 addresses. The plan is ready for implementation as soon as th8 coronavirus lockdown m8asures are relaxed in April 2021. Our regular distributors are to be congratulated for doing a marvellous job Ihis y8ar wtth all the restrictions of movement. Pam and Freddie Bush THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 The method of appointsnent of the PCC members is set out in the Churth Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC operales through a number of committees, which meet belween full meellngs of the PCC. Stsnding Committee This is the only committee requlred by law. It has power to transact the business of th8 PCC betW8en its meetlngs. subJ8Ct to any dlrection given by the Council. Finance Commlttea OverBees the general financlal dimenslon of the work of St Margaret's by monltorlng income and expenditure and budgeling, Identifying and reviewlng risks. c￿ordInates the annual review of the Chrlstian Stewardship of money through planned giving and Gift Aid. Property Committee Attends to repair5 and maint8nance of the Church, Church Rooms and grounds. Worshlp Commltte• Attends to matt8rs ￿latIng to the worship of the Church and pastoral care. Soclal Gmup Organises the Chrisbnas Fayre and other social and charitable events throughout the year. The members. report was approved by the Board of M8mbers. ..¢.!.IL... YCL PCC Member 1..6.121 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM I r8POrt to the members on my examination of th8 fin8nci81 statements of The Parochlal Church Council of the Ecclesiastical Parish of St Margaret, Topsham (the PCC) for the year ended 31 December 2020, which comprise the Statement of Financial Activities, the Balance Sheet and related not8S. This report Is mad8 $018ly to the PCC'S memb8rs, as a body, in accordance wlth seclion 145 of the Charitl8S Act 2011. My work has b88n und8rtaken so that I might state to th8 PCC'S members those matters that l am r6quir8d to state to Ihem in this report and for no other purpose. To the fullest extent pennitted by law, I do not accept or assum8 responsibillty to anyone other than the PCC'S members as a body, for my work, for thls r8POrt. or for the opinions I have formed. R85ponslbllttles and basis of report As the members of the PCC you are responslble for the preparation of the financlal stat8m8nts in accordance with the requ1￿ments of the Charitles Act 2011 (the 2011 Act). I report in respect of my examination of the PCC'S financial statements carried out under section 145 of the 2011 Act. In carrylng out my examination I have followed all th8 applicable Directions glven by th8 Charity Comrnission under section 145(5)(b) of the 2011 Act. An Ind8pendent examination does not involve gathering all th6 8vid8nce that would b8 r8quir8d in an audit and consequenlly does not covar all the matters that an auditor considers in giving their opinion on the financial statements. Consequently l express no opinion on whether the financial statements present a 'true and faiff view and my report is limited to thos8 speclfic matters set out in the independent examinerfs statem8nL Independent examinerfs statement I have completed my axamination. I confirm that no matters have come to my attentlon In connection with the examlnation giving me cause to believe that in any material respect accounting records w8re not kept in respect of the PCC as required by section 130 of the 2011 Act: or the financial ststements do not accord with those records- or the financlal ststements do not comply with th8 applicable requlrements conceming the forni and content of accounts set out in the Charities (Accounts and Reports) Regulatlons 2008 other than any requlrement that tho aGcount8 9ivo a true and fair vi•w which 1$ not a matter congidar•d as part of an independent examination. I have no concerns armj have com8 across no other matters in connection with the examination to whidi attention should be drawn in this report in order to enable a proper understandlng of the financial ststements to be reached. anks FCA Qualifi8d member ofth8 ICAEW Hammett Spire LLP 21 Heavitree Road Ex8ter Devon EX12LD CN ce) co rr ffj CT) (n <7) c>W (Noce) THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM BALANCE SHEEr AS AT 31 DECEMBER 2020 2020 2019 Flxed assets Tangible assets Inv8slments 14 15 72,069 81,911 73,381 97,641 153,980 171.022 Current assets Debtors Cash et bank and in hand 17 1,017 16,805 3,302 13,459 17,822 16.761 Credltorn: amounts falllng due wlthln one year 18 (24,057) (6.029) Net current (liabilitiesyass8ts (6,235) 10.732 Total assets less current Ilabilitles 147.745 181.754 Capltal funds li ntf General endowm8nt funds 8,103 7,582 8,103 7,582 Pennanent endowment Expendable endowment 8.103 7.582 19 8,103 7,582 Income funds Restricted funds tri Deslgnated funds General unrestricted funds 20 9,721 10,631 21 4,720 125,201 158,541 129,921 163,541 147,745 181,754 The financlal statements were approved by the Member5 on .-..-.- PCC Chairnian PCC Treasurer THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng pollcles Charlty Infomiation The Parochial Church Coundl of the Ecdesiastical Parish of St Margaret, Topsham is a registered charity, charity number 1128301 , governed by the Church Representatlon Rules in force at the time. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Church Representatlon Rules, the Charities Act 2011 and 'Accounting and Reporting by Charltles: Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Flnancl81 Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102)° (as amended for ac(xyunling periods commencing from 1 January 2016). The PCC is a Public Benefil Entity as deflned by FRS 102. The PCC has tsken advantage of the provislons in the SORP for charities applying FRS 102 Update Bulletln 1 not to prepare a Ststement of Cash Flows. The financial statements have departed from the Chaiities (Accounts and Reports) Regulations 2008 only to the extent requlred to provide a true and fair vlew. This departure has involved following the Statement of Recommended Practice for charlties applying FRS 102 rather than the version of the Statement of Recommended Practice whid) Is referred to In the Regulations but which has since been wlthdrawn. The financial statem8nts are p￿pared in sterllng, which is th8 functional currency of the PCC. Monetary amounts in these financial statements are round8d to the nearest £. The financlal statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting polici8s adopled ar8 S8t out below. 1.2 Golng concern At the tim8 of approving the financial statements, th8 members have a reasonable expectation that the PCC has adequate resources to continue in operab'onal existence for the fores88able future. Thus the members continu8 to adopt the going concern basis of accounting in preparing the financial ststements. 1.3 Charitable funds Unrestricted funds are available for usa at th8 dIscre￿n of the members In furtharanco of their charitable objectives. Restricted funds are subject to speclfic conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to speafic condltions by donors and the capitsl must be maintained P8manently or al the discretlon of the PCC. 1.4 Income Incom8 is r8cognised when the PCC Is legally entitled to it after any perf0m￿nCe conditions have been met, the amounts (xn be measured reliably, and it is probable that incom8 will be r8C8iV8d. Cash donatlons, induding collections, are recognlsed on receipt. Olher donalions are recognised once the PCC has been notlfied of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donatlons raceived under Gift Aid or deeds of covenant is reccgnised at the tlme of the donation. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng pollcies (Contlnued) Legacies are recognised on receipt or otherwise rf th8 PCC has been notified of an Impending distribution, the amount is known, and re￿Ipt is expected. If the amount is nol known. the legacy is treated as a contingent asset. 1.5 Expenditure Expenditure Is recognised on an accruals basis. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subs8quenty measured at cost or valuatlon, net of depreciation and any impairment losses. Depreciation is recognlsed so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Church room buildings Church rooms equipment Church bells improvements Other equipment Not depredated 10 years straight line 20 years stralght Iln8 10 yèars straight line The gain or loss arising on the dlsposal of an asset Is detenTrlned as the differen￿ between the sale proceeds and the Garying value of the asset, and is recognised in net Incomel(expenditure) for the year. 1.7 Flxed asset Investments Fixed asset Investments are initially measured at transaction price exduding trans8Ctlon costs, and are subsequently measured at fair value at each reporting date. Changes In falr value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impalrnient of flx•d assets At each reporting end date, the PCC reviews the carying amounts of its tangible assets to detennlne whether there is any indicabon that those ass8ts hav8 SUT18f8a an Impairment ioss. If any such Indlcaiton exists. the recoverable amount of the asset is estimated in order to determin8 th8 8xt8nt of the impaimient loss (rf any). 1.9 Cash and cash aquivalents Cash and cash equivalents indude cash in hand, deposits held 8t call with banks, othgr short-term liquid investments with original maturities of thr88 months or less, and bank overdrafts. Bank ov8rdrafts are shown within borrowings in current liabilities. 1.10 Flnanclal Instruments The PCC has elected to apply the provisions of Se(*ion 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of ts financial instruments. Financial instruments are recognis8d in the PCC'S balanc8 sheet when the PCC becomes paty to the contractual provisions of the instrument. Financlal ass8ts and liabilities a￿ offset, wtth the net amounts presented in the financlal statements, when there is a legally enforceable right to Set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Accountlng pollcl (Contlnued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transactlon price including transactlon costs and are subsequently carried at amortised cost using the effectlve Interest method unless the arrangement constltutes a financing transaction, where the transaction Is rneasured at the present value of the fijture receipts discounted at a market rate of interest. Flnandal assets classified as recelvable within one year are not amortised. Baslc financial liabilities Basic financial liabilities, indudlng creditors and bank loans are inttially recognised at transaction price unless the arrangement constitutes a flnancing transaction. where the debt instrument is measured at the pr8sent value of the future payments dI￿)Unted at a market rate of interest. Financial Ilabllltles classified as payable within one year ar8 not amortised. Debt Instrum8nts are subsequently carried at amortlsed cost, using the effectlve Interest rate method. Trade credltors are obligations to pay for goods or Se￿I￿S that have been aCqUi￿d In the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities If payment is due within one year or18ss. If not, they are pres8nt8d as non•current liabilities. Trade creditors are recognisgd initially at transaction price and subsequently measured at amortised cost using the effectlve Int8r8St method. Derncognltlon of flnanclal118bllitiés Financial liablliti8s are derecognised wh8n the PCC'S contractual obligations expire or are discharged or cancelled. 1.11 Employoo bonefits The Cost of any unused holiday 8ntitlement is recognis8d in the perlod in which the aM￿OYee'S servicas are received. Temiination benefits are reco9nis8d immediately as an exp8ns8 when the PCC is demonstrably committed to termlnate th8 employment of an employee or to provide tennlnation benefits. Crltlcal accountlng ostimates and Judgements In the applicatton of the PCC'S accountlng policies. the members are required to make Judgements, estlmates and assumptlons about the carying arnount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on hfstorfcal experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are roviewed on an ongolng basis. Revisions tt) accounting estimates are recognised in the period Sn which the estimate Is revlsed where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARGARET, TOPSHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 Donatlons and legacles Unrestrlcted Unrestricted Restricted funds fvnds funds Total 2020 2019 2019 2019 Donatlons and gifts Legacies receivable Income from grants 73,618 1 ,000 5,908 79,689 1,000 700 79,689 1,000 975 275 80,526 81.389 275 81,664 Donatlons and glfts Gift Aid donations CAF Income Parfsh Giving Sth8m8 Non Gift Aid donations Collectlons Income Tax recovered Tax efficient occasional donations Sundry donations and appeals Donated goods, facilitie6 and services Online Giving 7,487 3.917 32,972 2,343 1,292 12,819 2,462 464 8,291 1,571 7,816 4,217 33,142 2,290 6,470 14,444 6,033 2,553 2,724 7,816 4,217 33,142 2,290 6,470 14,444 6.033 2.553 2,724 73,618 79,689 79,689 Legacies recelvabla Legacies 1,000 1,000 1,000 1,000 1,000 Grants receivable for core actlvltles Incom8 frorn grants 5.908 700 275 975 5,908 700 275 975