Parochial Church Council of St Mary the Virgin, Cuddington
ST MARY’S CHURCH PCC, CUDDINGTON, SURREY ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31[ST ] DECEMBER 2021.
Administrative information
St Mary’s Church is situated in The Avenue, Worcester Park. It is part of the Diocese of Guildford within the Church of England. The correspondence address is The Parish Office, The Avenue, Worcester Park, Surrey KT4 7HL.
The Parochial Church Council (PCC) is registered with the Charity Commission under number 1128308.
PCC members who have served from 1[st] January 2021 until the date of this report was approved are:
| Incumbent: | The Rev'd Theresa Ricketts | Chair |
|---|---|---|
| Retired Priest: | The Rev'd John Richardson | |
| LLM (Reader): | Mr Jason Gray | |
| Churchwardens: | Mr Dan Smithers | |
| Mrs Sara Tomlin | Until May 2021 | |
| Mr Peter Harvey | From May 2021 | |
| Representatives on the Deanery | ||
| Synod: | ||
| Mr Rodney Clarke | Vice Chairman | |
| Mr Peter Harvey | ||
| Ms Julie Stamford | ||
| Elected Members: | Mr David Eames | Treasurer |
| Mrs Samantha O'Shea | ||
| Mr Colin Hooper | ||
| Mrs Judith Peake | ||
| Mrs Daphne Richardson | ||
| Mrs Josephine Reynolds | ||
| Mrs Jenifer Dore | ||
| Mrs Carolyn Harvey | ||
| Mr Roger Eales | Until May 2021 | |
| Mr Shaun Potter | ||
| Mrs Jacqui Potter | ||
| Mrs Kate Nowak | ||
| Co-opted members: | Mrs Linda Charlton | |
| Mr Steven Robbins |
Structure, governance, and management
The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
Objectives and Activities
St Mary’s PCC has the responsibility of co-operating with the incumbent in promoting, in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social, spiritual, and ecumenical.
Achievements and Performance
There were 115 parishioners on the Church Electoral Roll. Regular Sunday attendance continued to be affected by the restrictions due to the Covid-19 pandemic during 2021. When open for worship, the number of attendees was limited by the safety and social distancing requirements in force. Throughout the year, services were delivered via Zoom for those unable to attend the church in person.
During the year, three funeral services were held and there were three internments of ashes. Two couples were married, and there were baptisms of nineteen children and four adults.
Parochial Church Council of St Mary the Virgin, Cuddington
Financial Review
St Mary’s total funds decreased by £1,463 in 2021, despite an unrealized gain of £5,938 due to the revaluation of the shares held in the Greenfield and Leverton investment funds.
General Fund
The General Fund had a deficit of £8,808 against a budgeted deficit of £28,167. A great deal of this improvement was due to a very successful gift day that resulted in donations (including gift aid tax) of £15,599 against a budget of £3,750. This was helped by other donations and fundraising in the year. Income from hiring of the Cuddington and Leverton rooms was below budget, despite reopening as expected at the end of the first quarter of 2021. It was £4,000 below budget and £9,000 below pre-pandemic levels. The extension of the government furlough scheme provided £3,715 to partly offset this shortfall. In total, costs for 2021 were generally on budget.
Designated Funds
Designated funds in total saw a net inflow of £193, mainly due to donations received. Together, the General and Designated funds had an outflow of £8,615 for the year.
Restricted Funds
Restricted Funds increased by £1,214 in the year. This was largely as a result of dividends received in the two endowment funds.
Reserves Policy
It is PCC policy to maintain a balance on free reserves (net current assets) which equates to at least six months’ unrestricted payments. This amounts to £61,652. It is held to smooth out fluctuations in cash flow and to meet emergencies. The balance of free reserves at year end was £185,924, held on unrestricted (including designated) funds.
Investments
It is PCC policy to invest cash, which is surplus to day to day requirements, with the Church of England Deposit Fund (administered by CCLA).
I would like to thank Malcolm Coffey, our Independent Examiner, for his efficient and thorough review of the accounts, and his advice and comments. The Independent Examiner’s Report, together with the accounts below, form part of the report filed with the Charity Commission and may be viewed on their website. Many thanks again to Jacqui and Colin Hooper for counting and banking our collections and other receipts each week, particularly under difficult circumstances. They also administer our Planned Giving scheme, and I would like to thank them for the efficient way they record our Planned Giving and claim the associated Gift Aid Tax.
David Eames, Treasurer
Parochial Church Council of St Mary the Virgin, Cuddington
Incoming Resources (£115,903)
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Other Giving (incl Tax)
£29,642
Hall Lettings £5,091
Weddings etc.£2,065
Fundraising income
£4,201
Investment Income
£1,291
Catering,books £557
Sundry £4,569
Planned Giving (incl
Tax) £68,487
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Resources Expended (£123,304)
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Sundry Costs £3,316 Fundraising Costs
£362
Mission & Evangelism
£412
Trading Costs (inc.
Hall) £9,033
Church Running Costs
£14,935 Stipends Quota
£60,038
Ministry Costs
£11,872
Other Parish Share
£23,336
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Parochial Church Council of St Mary the Virgin, Cuddington
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Incoming Resources Notes _ Income from generated funds Voluntary Income 2a Activities for Fundraising 2b Income from investments 2c Church Activities 2d Other Incoming Resources 2e Total Incoming Resource Resources Expended Cost of Generating Funds Fundraising Trading 3a Church Activities 3b Other Resources Expended 3c Total Resources used Net Incoming Resources Before Transfers Transfers between Funds 8 Net Incoming Resources After Transfers Gains on Investments 4 Net Movement of Funds Total Funds b/fwd 1 Jan 8 Total Funds c/fwd 31 Dec 8 |
Unrestricted General Designated _ _ £ £ 97,905 224 4,201 - 13 64 7,713 - 4,569 - 114,401 288 0 362 - 122,847 95 --0 - 123,209 95 (8,808) 193 5,070 (5,070) (3,738) (4,877) - - (3,738) (4,877) 46,742 147,797 43,004 142,920 |
Restricted Endowment _ _ £ £ - - - - 1,214 - - - - - 1,214 - 0 0 - - 0- - - - - - 1,214 - - - 1,214 - - 5,938 1,214 5,938 18,973 41,505 20,187 47,443 |
2021 2020 _ _ £ £ 98,129 105,345 4,201 2,745 1,291 1,834 7,713 7,802 4,569 7,061 |
|---|---|---|---|
| 115,903 124,787 |
|||
| 362 1,031 122,942 123,484 0 4,566 |
|||
| 123,304 129,081 |
|||
| (7,401) (4,294) - - |
|||
| (7,401) (4,294) 5,938 2,670 |
|||
| (1,463) (1,624) 255,017 256,641 |
|||
| 253,554 255,017 |
Parochlal Church Councll of St Marythe Vlrgin. Cuddington BALANCE SHEEf AS AT 31 DECEMBER 2021 Notes 2021 2020 Flxed Assets Invostments 47,443 41.505 Current Assets Bank and Cash Balan9 203,048 5,133 210,316 5.649 Sundry D•btors Current Llabllltl•s Sundry Crèdltors 12,0701 12,4S31 N•t Ass•ts 253,SS4 255.017 The Funds of th• Charlty Unre8lrlct•d Funds - G•n•ral 43.004 142.920 20.187 47.443 46,742 147,797 18,973 41,505 Unrgstrlcted Funds - Oe$lgnat•d Restrlcted Fund¥ Endowment Funds Total Fund• 253,554 255,017 Appmved by the PCC." Chaimian Date." /6- 20£
NOTES TO THE FINANCIAL STATEMENTS
For the year ending 31st DECEMBER 2021
Note
1 Accounting Policies
The financial statements have been prepared on the Prepayments and Accruals basis in accordance with Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP 2015.
The statements have been prepared under the historical cost convention, except for investment assets which are shown at market value.
Funds
Unrestricted Funds represent the funds of the Parochial Church Council (PCC) that are not subject to any restrictions concerning their use, and are available for application to the general purposes of the PCC. These include funds that the PCC may designate for particular purposes. The purpose of each fund is noted in the accounts.
The accounts include only those transactions, assets and liabilities for which the PCC is responsible in law. They do not include funds raised specifically for other charitable bodies nor the accounts of church groups that owe affiliation to another body or those of informal gatherings of church members.
Incoming Resources, Voluntary Income and Capital Sources
Collections are recognised when received by or on behalf of the PCC. Planned Giving is recognised only when it is received. Tax recoverable under Gift Aid is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable, and its ultimate receipt by the PCC is reasonably certain. Funds raised through social events are accounted for gross wherever possible. Sales of books are accounted for gross. Income from the hire of church premises is recognised when the rental income is due. Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue and are apportioned according to average balance over the accrual period. Realised gains and losses are recognised when investments are st sold. Unrealized gains and losses are accounted for on revaluation on 31 December.
Resources Expended
Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the PCC. The Diocesan Parish Share is accounted for when paid. Any Parish Share unpaid at st 31 December is provided for as an operating liability and is shown as a creditor in the Balance Sheet.
Fixed Assets
Consecrated and benefice property is not included in the accounts in accordance with s10(2) of the Charities Act 2011. Attached to the church is a meeting room complex that is not included in the accounts.
Fixtures, Fittings and Office Equipment
Equipment used within the church premises is written off when acquired.
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ending 31st DECEMBER 2021
| 2 Incoming Resources 2a Voluntary Income Gift Aided Planned Giving Other Planned Giving Collections at Services All other giving (inc Gift Day) All Tax Recovered through Gift Aid Legacies and grants received 2b Activities For Fundraising Fundraising Events 2c Income from Investments Dividends Interest 2d Church Activities Wedding & Funeral Fees Wedding & Funeral Additional Items Church Hall Lettings Fees Catering income, sale of books 2e Other Incoming resources Insurance Claims & Sundry Income Incoming Resources Total |
2021 2020 Unrestricted Designated Restricted Endowment Total Total Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ 51,552 - - - 51,552 65,051 3,832 - - - 3,832 9,755 2,891 - - - 2,891 1,698 23,402 224 - - 23,626 10,649 16,228 - - - 16,228 18,192 - - - - - - |
|---|---|
| 97,905 224 - - 98,129 105,345 |
|
| 4,201 - - - 4,201 2,745 |
|
| 4,201 - - - 4,201 2,745 |
|
| - - 1,207 - 1,207 1,163 13 64 7 - 84 671 |
|
| 13 64 1,214 - 1,291 1,834 |
|
| 2021 2020 Unrestricted Designated Restricted Endowment Total Total Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ 1,635 - - - 1,635 1,256 430 - - - 430 869 5,091 - - - 5,091 5,553 557 - - - 557 124 |
|
| 7,713 - - - 7,713 7,802 |
|
| 4,569 - - - 4,569 7,061 |
|
| 4,569 - - - 4,569 7,061 |
|
| 114,401 288 1,214 - 115,903 124,787 |
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ending 31st DECEMBER 2021
| 3 Resources Expended 3a Fundraising trading Fundraising Costs 3b Church Activities Mission Giving Stipends Quota Ministry Parish Share Parish office salaries etc. Ministry Expenses Evangelism (inc work with young people) Church Running Expenses - Building Church Running Expenses - Parish Office Church Running Expenses - Provision of Services Church Running Expenses - Grounds Church Utility Bills Trading Costs (incl. Hall) Catering, books, etc. Sundry 3c Other Resources Expended Building work Resources Expended Total |
2021 2020 Unrestricted Designated Restricted Endowment Total Total Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ 362 - - - 362 1,031 |
|---|---|
| 362 - - - 362 1,031 |
|
| 400 - - - 400 305 60,038 - - - 60,038 60,038 23,336 - - - 23,336 23,336 9,966 - - - 9,966 9,998 1,906 - - - 1,906 1,729 12 - - - 12 120 4,730 - - - 4,730 4,067 2,011 - - - 2,011 3,388 4,133 - - - 4,133 5,287 235 95 - - 330 1,392 3,731 - - - 3,731 3,060 9,033 - - - 9,033 8,761 101 - - - 101 0 3,215 - - - 3,215 2,003 |
|
| 122,847 95 0 - 122,942 123,484 |
|
| - - - - - 4,566 |
|
| - - - - - 4,566 |
|
| 123,209 95 0- - 123,304 129,081 |
NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31st DECEMBER 2021
4 Investments
Investments comprise shares held in the CBF Church of England Investment Fund and represent the principal of the Greenfield Legacy Fund and the Leverton Fund (note 8). These are Endowment funds
£
| Balance at 1st January 2021 Gain on revaluation Balance at 31st December 2021 |
41,505 5,938 |
|---|---|
| 47,443 |
5 Bank and Cash Balances
| National Westminster Bank Short Term Deposits Petty Cash 6 Sundry Debtors Income Tax Recoverable 7 Sundry Creditors Accounts Payable Agency Collections |
2021 £ 43,412 159,349 287 203,048 2021 £ 5,133 5,133 2021 £ 858 1,212 2,070 |
2020 £ 50,947 159,264 105 |
|---|---|---|
| 210,316 | ||
| 2020 £ 5,649 |
||
| 5,649 | ||
| 2020 £ 1,475 978 |
||
| 2,453 |
8 Funds of the Charity
NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31st DECEMBER 2021
| Funds of the Charity | |
|---|---|
| Unrestricted Funds: General Fund Designated - Bequests & Donations Fund - Estates Sinking Fund - Worship Music Sinking Fund Restricted Funds: Restricted - Greenfield Fund - Music Development Fund - Roof Fund - Spiritual Development Fund - Leverton Room Endowment Fund: Greenfield Leverton Total Funds |
01/01/21 Incoming Resources Gains/(losses) Transfers 31/12/21 Resources Expended on Investments £ £ £ £ £ £ 46,742 114,401 (123,209) - 5,070 43,004 |
| 135,407 62 - - 135,469 4,944 221 (95) - (5,070) - 7,446 5 - - - 7,451 |
|
| 147,797 288 (95) - (5,070) 142,920 |
|
| 12,058 785 - - - 12,843 1,884 2 - - - 1,886 61 - - - 61 3,334 2 - - - 3,336 1,636 425 - - - 2,061 |
|
| 18,973 1,214 - - - 20,187 |
|
| 26,940 - - 3,854 - 30,794 14,565 - - 2,084 - 16,649 |
|
| 41,505 - - 5,938 - 47,443 |
|
| 255,017 115,903 (123,304) 5,938 - 253,554 |
Designated Funds
The Bequests and Donations Fund was created when the Bequests Fund and the Donations Funds were combined. It is used to hold any legacies or larger donations that are received where no specific conditions have been laid down.
The Estates Sinking Fund was initially set up to enable the cost of work on the plant, buildings, and grounds to be spread more evenly over a number of years. This has not proved to have worked out in practice and therefore the PCC decided to close this fund at the end of 2021 and transfer the remaining balance to the General Fund.
The Worship Music Sinking Fund was set up at the same time as the Estates Fund to enable the cost of work on the organ to be spread over several years. Since 2017 no transfers have been made to this fund. It is intended to build the fund to £40,000 or more over a period of 25 to 30 years as general funds become available. It has been recognised that organ music may not be appropriate at that time and so the Fund was named to allow its use on any suitable form of music for worship at that time.
NOTES TO THE FINANCIAL STATEMENTS (continued)
For the year ending 31st DECEMBER 2021
Restricted Funds
The Greenfield Fund was set up when a former churchwarden donated a capital sum to generate income for the maintenance of his gifts to the church, namely the West Window, the two most westerly windows in the South Wall and the Lych-gate. It derives its income from the dividends on the capital sum invested as the Greenfield Legacy Fund.
The Music Development Fund was created in 1996 by the renaming of the Organ and Choir Fund, which had previously been reported as part of the Bequests and Donations Designated Fund, and is to be used to meet the needs of the choir and music in general.
The Roof Fund was set up in November 2012 to receive donations towards the roof and other repairs identified at the latest Quinquennial Inspection earlier in that year. The works are now completed with provision for most of the costs made in the 2013 accounts. It was also been used to fund the insurance excess following theft of lead from the roof in 2013.
The Spiritual Development Fund was set up in October 2014 on receipt of donations specifically for the promotion of individual and group spiritual development, particularly outside of the parish. It will be used to help individuals to meet the cost of their spiritual development.
The Leverton Room Fund was set up in 2015 following the receipt of a £10,000 legacy from Peter Leverton. The income from the legacy is to be used to maintain the Leverton Room.
9 Related Party Transactions
There were no related party transactions in 2021
.
Independent Examiners Report to the PCC of SL Mary. The Virgin, Cuddington I report on the wjunts for the year ended 31 December 2021. which are set out on the preceding 8 page5. R•sp8ctiv8 respon8ibili¢ieB ol the PCC and the E¥amlner The charity's Iruslees ere responsible for the prep8rntion of the aceounts. The charity'5 trustees Consider that an audit is not required for this year under seclion 144121 of Chafities Act 2011 Ilhe Charities Actl and that an irKlependent examination is needed. It Is my responsibility to= Examine the accounts undgr 145 of the Chanl*s Act: to follow the procedures laiddown inlhegeneral DiTe¢lion$giwn bythe CharityCommis8ion under section 145(51{bl of the Charities Act.. and lo stale v4hether particular matters have to ry attentth. B•81• of the Indep•ndent Examln•rf• Statement My examination was cafTied out in accordance with the general Directions gÈven by the Charity Commission. An examination includos a rwew of the acc(wnting records kept by the chanty and a comparison of the accounts presented wrth those records. 11 also includes considèration of any unusual items or disclosures In the accounts. and seeknng explarth.ons from the tnjstees concefnlng any such matters. The procedLsres undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as lo wwher Ihg accounts present a 'lrue and fair view, and the report is limited to those mattèrs set out in thg $tatemBnt bel. Ind•pendenl Examln•es Stst•m•nt In connection with my examination. no m8tter hos corne to my attention". {11 which gives me reasonable causelo believe that in,any material respect. the requlrement8'. lo keep a¢counling records in ordance with section 130 of the Charities Act, and to prapare accounls whlch accord with the accounting records and comply wllh the accounllng requirements of the charib.es Act have not been met." or 121 to which, in my opinw. attenti should be drawn in orderlo enable a proper understanding of the accounls to be reached. Mr. D Malcolm Coffey 15 Aurid Park Road Wofcester Park Surrey KT4 7DP Signed.. Date.. l¢92