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2020-12-31-accounts

ST MARY THE VIRGIN RIVERHEAD WITH DUNTON GREEN

ANNUAL REPORT FOR THE 2021 APCM

BACKGROUND

We are an Ecclesiastical Parish within the Deanery of Sevenoaks, with St. Mary’s located at the heart of Riverhead village, on the northern borders of the town of Sevenoaks, serving the villages of Riverhead and Dunton Green;. The building itself dates from 1831. The chancel and sanctuary were added in 1882 to a design by Sir Arthur Blomfield, but the nave itself was the work of Decimus Burton. The church became a parish in its own right in 1864. St. Mary’s also serves as the parish church of Dunton Green, which had its own church of St. John the Divine until, sadly, it was made redundant in the 1980s.

As of 1 December 2019, we are part of the West Sevenoaks Team Ministry, working alongside St.Luke's, Sevenoaks and St.Mary's, Kippington. A new Benefice has been established and is known as the Benefice of West Sevenoaks. At the October APCM a new Joint Council was agreed for the Benefice and following elections this year will help to enable the Team to work together on agreed priorities.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council powers Measure. St Mary the Virgin, Riverhead with Dunton Green is registered with the Charity Commision as a charity, registered number 1128522. The Parish was in interregnum until January 2021. In cooperation with the Vicar, the purpose of the PCC is the promotion within the ecclesiastical parish of the whole mission of the church, pastoral, evangelistic, social and ecumenical.

The method of appointment of PCC members is set out in the Church Representation Rules. In summary:

LIST OF CHURCHWARDENS/OFFICERS/PCC/DEANERY SYNOD MEMBERS AS AT

APRIL 2021

TEAM VICAR (with particular Responsibility for Riverhead with Dunton Green) Reverend Andy Finn (Chair from January 2021)

CHURCHWARDENS: (Serve for 6 years, adopted each year)

Alison Bull 2018 Rachel Wigley 2019

LICENSED MINISTRY:

Daphne Harrison - Licenced by the Bishop in January 2020 as a Licensed Lay Minister (LLM) to the West Sevenoaks Team Ministry

PARISH SAFEGUARDING OFFICER:

Susan Allender

PCC MEMBERS: (Date of election: serve for three years)

Charlotte Rakhit 2018 - Standing Down 2021 APCM Susan Allender 2018 - Standing Down 2021 APCM Ali Wakefield 2018 - Standing Down 2021 APCM Sarah Stott 2019 Simon Bull 2019 Jane Ibbotson 2020 Richard Gibson 2020 Barry Sharp co-opted 2020 Karen Forster-Pearce co-opted 2020

DEANERY SYNOD: Serve for three years Bennet Smith 2020 Margaret Nicholas 2020

OFFICERS:

Stuart Wigley - Hon Treasurer Veronica Todd – Hon Secretary

STANDING COMMITTEE:

Vicar, Licensed Lay Minister, Wardens, Treasurer, Secretary, Bennet Smith

The Parochial Church Council meets six times a year. The PCC and the Standing Committee are chaired by the Incumbent with one of the wardens as deputy. During the interregnum the meetings have been chaired by one of the Churchwardens. The Standing Committee meets to set the Agenda approximately two weeks before each PCC Meeting.

A part-time Honorary Parish Administrator is in post, undertaking those administrative duties necessary for the smooth running of the parish, including preparing and maintaining the registers, printing and circulating rotas, pew sheets, service sheets etc

The Stewardship Committee, delegated by the PCC, will be revisited after the APCM in order to share the workload between people, as it has been difficult to organise committees due to lockdown. The idea of the Stewardship Committee is to oversee and report back to the PCC on fundraising, financial, environmental (‘Green Church’) and procurement matters.

The PCC has delegated a Church Fabric Committee to oversee and report back to it on matters concerning church building, grounds and repairs. They have particular responsibility in responding to the various needs raised by our Quinnquenial Inspections. They have also worked very hard at creating a welcoming church which, it is hoped, will lead to St Mary’s being left open more often.

Safeguarding is on the agenda for every PCC and is overseen by our Parish Safeguarding officer. Over the last year the PCC has been kept informed about the latest updates to the guidance, reviewed training needs and has had due regard to the House of Bishop’s safeguarding Policy and Practice Guidance.

WORSHIP AND OCCASIONAL SERVICES

St Mary’s is a village and local community church; serving all the functions that would be expected of it as such. It sits in an inclusive tradition; all are welcome - churched, unchurched, enquiring. Although the worship is centred on the celebration of Holy Communion, we also enjoy less formal forms of worship. Our Family Service each month is usually non-Eucharistic, but is still a meaningful but shorter service, especially accessible for families with very young children. We encourage all requests for Baptism in the church and, although the offering of marriage

ceremonies for divorcees is largely a matter of discretion for the incumbent, the PCC broadly accepts it. In the past, the parish has admitted children to Communion before Confirmation when they have already been accepted in a previous church; the question of a general policy could be considered for the future.

In normal times, a well-attended Parade Service for the local Uniformed Organisations is held at our Harvest Festival.

Local schools hold their various services in the church, and the vicar pays regular visits to them by arrangement with the head teachers.

The church holds Christingle and Crib Services on Christmas Eve, although these services were held on Zoom this year due to the Pandemic. These can fill the church to overflowing with children, their parents and their families, many of whom do not attend on a regular basis, but rightly regard St Mary’s as their church; and are more than welcome.

Our Christmas Tree Festival (created by and for the church and local community & organisations) has proved very popular over the years; as has its Christmas Tree Carol Service on the Sunday afternoon of the festival weekend. Because of the Covid pandemic and resulting lockdowns, the Christmas Tree Festival was held virtually in 2020 and proved very successful.

Our normal pattern of weekly services is:

Sunday :

8.00 a.m. Holy Communion (BCP) 9.30 a.m. Parish Eucharist (CW) 9.30 a.m. Family Service (1st Sunday) 9.30 a.m. All-Age Eucharist (3rd Sunday)

9.30 a.m. Service is followed by coffee at the back of the church

Thursday :

11.00 a.m. (except the third Thursday) Holy Communion at Dunton Green Village Hall

During the interregnum, our Licensed Lay Minister, Daphne Harrison, had been taking nonEucharistic services, funerals, Thursday Holy Communion at Dunton Green by extension (currently suspended due to lockdown), home communion visits, again by extension, (currently suspended due to lockdown) and arranging for visiting clergy, retired and in office, to take Eucharist services.

NOTE:

Due to the Covid pandemic and subsequent lockdowns, the majority of 9.30am services after our last APCM, have been held via Zoom. There were a few 8.00am and 9.30am services in church during September and October but they were stopped from November onwards because of the second lockdown. All Christmas services were held using Zoom. A midweek Compline service has continued on Zoom since the first lockdown and continues to be popular with some of the congregation.

Since the establishment of the new Benefice of West Sevenoaks, a prayer meeting continues to be held each Tuesday evening between 7.00 and 7.30pm with members of the three parishes. This is also held on Zoom at the moment, due to the lockdown.

Average Sunday attendance, in church, normally involves around 50 Adults and Children. Since we have been holding Sunday services on Zoom, attendance has been 40 plus. There are usually around 20 Baptisms and 3 to 4 weddings a year.

There are also around 30 funerals, cremations and interment services each year in normal times. Since November 2020 there have been no weddings or baptisms, and 6 Funerals.

St Mary’s continues to need people called to be part of our Ministry Team. The various duties include liaising with families for baptism preparation, supporting them through the baptismal ceremony and beyond, visiting the elderly and sick and offering home Communion to those who are housebound.

MUSIC

The music at the 9.30 a.m. Parish Eucharist is usually led by the organ and the robed SATB choir. A weekly choir practice would normally take place on Thursday evenings. Unfortunately, it has not been possible to have singing in church since March 2020 because of the pandemic.

On the First Sunday of each month there is a non-Eucharistic Family Service, usually with more modern worship songs, often accompanied by a young person music group of instrumentalists.

Music has always been a very important part of the worship at St.Mary’s. To that end we are very grateful to the continued invaluable contributions of Janet Sharp, Daniel Eaton and Nicholas Castell. Janet has successfully included hymns and music in our Zoom services, which has worked really well and for which we are very grateful, including a recording of Carols sung by the choir for Zoom Christmas services. We are looking forward to services being gradually introduced back in church after Easter. Hopefully, the music will follow once restrictions, due to the pandemic, are eased.

CHURCH LIFE

The activities undertaken in the church are many and varied. Unfortunately, again, these have had to be suspended due to the Covid pandemic but it is hoped they will restart as soon as it is safe to do so.

They would normally consist of:

An excellent Tots & Toddlers group which meets every Monday afternoon. A first-class Sunday Club with around 20 children on any given Sunday.

Much more difficult in recent years has been the provision of opportunities for young people in the 11+ category, and this is a subject that we will be looking to improve in the coming months. We have a Mothers’ Union representative, but there is no longer a Riverhead branch of MU. We are one of the founders and keen supporters of the Littlecourt Lunch Club which provides an excellent meal each Tuesday. Our involvement consists not just of providing front-of-house and cooking teams, but also drivers who augment the Age Concern buses that bring some people in and take them home. Our Treasurer also oversees management of the funds.

St. Mary’s takes part every year in the Riverhead Carnival. We have also in the past supported both financially and practically, the annual Dunton Green Fun Day in June.

The Lay Minister sometimes leads a service of Worship and Word at Hamlyn Court; sheltered accommodation in Dunton Green.

In the past we have worked with Faithworks, an offshoot of Bessels Green Baptist Church, to serve the Dunton Green community. We are currently actively pursuing new ways of reaching the people of Dunton Green with the Gospel.

We are active members of the Churches Together in Sevenoaks, meeting at times for special services and sharing Lent lunches

St Mary’s has a link with our brothers and sisters in Harju-Risti church, Estonia - Pastor Annika Laats.

Our outreach includes helping to support Kenyan children through the Sevenoaks Kenyan Education Trust.

We support the annual Rochester Diocesan Poverty and Hope appeal and also actively promote the annual Thy Kingdom Come initiative as a means of encouraging prayer for others in our community

In past years at the APCM, we have voted to actively support two or three further charities and invite them to come to talk to us during a Sunday service. This is currently suspended but we hope to re-start it at the 2022 APCM.

We have an active Events Committee who organise social activities, as well as the catering for special occasions.

A regular group meets for bible study and prayer each Monday morning. There is a prayer board in the Lady Chapel for people to pin up their prayer requests.

In addition, the congregation is invited to participate in an ecumenical Lent Course led by our Vicar and also through Churches Together in Sevenoaks, together with similar activities from time to time.

Parish Finances

Our finances were published in advance of the APCM and approved by the PCC. The Treasurer has worked extremely hard to reduce outgoings; for example by changing our Bank (reducing charges), energy supplier, telephone and photocopying contracts. We are enormously grateful to the Treasurer and everyone involved in this important task.

2021 and Beyond

Some of the challenges we will face together are:

The Parish Church of Riverhead with Dunton Green, Kent

FINANCIAL REVIEW OF PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN for the year ended 31 December 2020

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

Annual Accounts for the year ending 31 December 2020

Financial Review

The Report of the PCC has been prepared in accordance with Financial Reporting Standard for Smaller Entities (effective January 2005).

Total incoming resources were £60,623 (2019: £102,789; 2018: £99,613) and are detailed in the financial statements, of which the Church Hall provided a gross income of £5,311 (2019: £13,887; 2018: £12,604).

Voluntary income overall has decreased to £52,875 compared to last year (2019: £78,313; 2018: £77,835), with a contribution coming from a single legacy.

The period of reporting has been significantly impacted by a global pandemic. The church building has been closed for significant periods during 2020. The underlying voluntary giving for 2020 is significantly lower than last year, and Planned Giving has decreased. Regular giving is a key aspect of funding the work the PCC undertakes. Regular giving through using the monthly or weekly envelopes and bank standing orders benefit from much needed Gift Aid. Giving via legacies is also encouraged and full details are contained on St Mary’s website. A single legacy of £2,000 was received during the year and their use is being targeted and reviewed by the PCC.

Fees received (funerals, weddings etc.) totalled £752 and were substantially lower than last year (2019: £6,895; 2018: £6,666)

£75,230 (2019: £84,012; 2018: £93,903) was spent on church activities and is lower than last year.

Contributions to the Diocese during 2019 includes both what was previous called the ‘parish share’ – a payment towards the Diocese’s running costs - and the payment to cover the Vicar’s Stipend. £48,878 was paid to the Diocese (2019: £48,878; 2018: £46,800). The budgeted contribution for 2021 to the Diocese is £12,000. This Indicative Offer is lower than the Indicative Offer Calculation from the Diocese.

Utility bills for gas and electric for the church totalled £1,619 (2019: £2,566; 2018: £2,462).

Page 1 of 4

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

Annual Accounts for the year ending 31 December 2020

The Church Hall had expenditure of £5,364 (2019: £6,270; 2018: £6,580).

Charitable giving by St Mary’s was 672 (2019: £1,257; 2018: £1,735).

The result for the year was a net outgoing of resources of £15,898 (2019: net incoming of £16,906; 2018: net incoming resources of £4,749).

Actions suggested to be reviewed for 2021 include:

The total fund balances carried forward at 31 December 2020 were £147,310 (2019: £163,208; 2018: £146,302).

The Church Repair Fund and Hall Repair Fund have year-end balances of £18,318 and £12,063 respectively (2019: £15,567 and £11,210 respectively) and these are retained towards meeting the future cost of repairs to the fabric of the church and hall, including costs arising from the Quinquennial inspection. The Quinquennial Inspection Report was

Page 2 of 4

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

Annual Accounts for the year ending 31 December 2020

issued on 1 February 2016. The works identified within the Report require the contributions set aside for the anticipated repairs to be undertaken. The next Quinquennial will take place on 9 March 2021.

The Lunch Club Fund has received minimal income during the year of £840 (2019: £588; 2018: £606) and incurred costs of £19 (2019: £1,581; 2018: £1,501). The closing Lunch Club Fund balance is £822 (previous years closing balances: 2019: £0; 2018: £824). A review of the income and expenditure will need to be undertaken during the coming year when the Lunch Club is able to re-start.

The PCC have retained the Parish Investment Trust of £75,296 (2019: £75,296; 2018: £75,296). Any interest raised from this Trust is paid into the CBF Deposit Account. As recorded previously, an important development during 2016 was the receipt of confirmation from the Diocese that this Trust fund can be accessed by the PCC for any ecclesiastical purposes of the parish.

We have striven to minimise expenditure and encourage giving during 2020 by undertaking the following:

Reserves

It is PCC policy to deposit money not needed for day-to-day activities in the CBF Church of England Deposit accounts. The amounts totalled £95,352 (2019: £94,949; 2018: £94,241).

Page 3 of 4

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

Annual Accounts for the year ending 31 December 2020

The CBF Deposit Funds for the church are held by CBF and have not been eroded this year. The CBF Fund at the end of the year was £20,056. This equates to 20% of the payments the church budgeted for in 2020.

As indicated above, during 2016 the Diocese clarified access to the Parish Trust Fund. These funds are retained in a deposit account. The Parish Trust Fund of £75,296 is to be used for ecclesiastical purposes and it is the intention of the PCC to retain these funds as a Parish Trust Fund against a time of need.

The target for general reserves is for a sum equivalent to between three and six months of outgoings, which normally would broadly equate to between £22,000 to £45,000. The general reserves of £27,966 (2019: £43,219) falls within this range.

Thanks

I would like to include my thanks to Margaret Nicholas, Barry Sharp, Bryan Nicholas, John Curtis and all those assisting with the counting and processing of the weekly collections, and for their ongoing support.

It is proposed that these accounts are to be examined by Jim Metcalf FCMA. The PCC would like to express their thanks in advance to him for undertaking this work.

Stuart Wigley (Hon Treasurer)

21 February 2021

Page 4 of 4

Independent Examiner’s Report to the PCC of St Mary the Virgin, Riverhead with Dunton

Green

| report on the accounts for the year ended 31 December 2020 which are set out on pages 1 and 2.

Respective responsibilities of the Trustees and the Independent Examiner

The charity’s trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (“the 2011 Act”) and that an independent examination is needed. “

It is my responsibility to:

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with the General Directions given by the Charity Commission.

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes a consideration of any unusual items or disclosures in the accounts, and seeking explanations from appropriate trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently | do not express an audit opinion on the accounts.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements e to keep accounting records in accordance with Section 130 of the 2011 Act; or e to prepare financial statements which accord with these accounting records have not been met; or

  2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mr James Metcalf, FCMA

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Flat 2, Epicurus House, 1-3 Akehurst Lane, SEVENOAKS TN13 1JN March 2021

The Parish Church of Riverhead with Dunton Green, Kent

FINANCIAL STATEMENTS OF PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN For the year ending 31 December 2020

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

Statement Of Financial Activities

For the year ending 31 December 2020

Notes
Income and endowments
Voluntary income
2a
Activities for generating funds
2b
Income from investments
2c
Church activities
2d
Total Income
Expenditure
Church activities
3a
Raising funds
3b
Total Expenditure
Net Income/(Expenditure)
Net Income/(Expenditure)
Transfers between funds - transfers in
Transfers between funds - transfers out
Net movement in funds
Reconciliation of funds
Total funds b/fwd at 1 January
Total funds c/fwd at 31 December		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
2020
2019
£
£
£
£
£
52,875
52,875
78,313
352
5,311
840
6,503
16,752
403
86
489
605
215
540
755
7,120
53,845
5,397
1,381
60,623
102,789
69,847
5,364
1,466
76,677
84,012
194
194
1,871
70,041
5,364
1,466
76,871
85,883
(16,196)
33
(85)
(16,248)
16,906
(16,196)
33
(85)
(16,248)
16,906
926
906
1,832
1,482
(1,482)
(1,482)
(1,482)
(15,270)
(1,449)
821
(15,898)
16,906
118,515
39,591
5,102
163,208
146,302
103,245
38,142
5,923
147,310
163,208

Page 1 of 11

Final

PAROCMIAL CHURCH COUNCIL OF ST MARY THE VIRGIN. RIVERHEAD WITH DUNTON GREEN 3alan¢è Shèèt at 31 Dwmbar 2020 Not&$ 2020 2019 Current assots Stock Investments Ishfytytob6 d1$p￿S￿OI10rSpon￿N￿J Debtors Short term deposits Cash al bank aFKI in hand 6b 5.on 125,733 16,499 147.310 4,604 121.726 36,879 163,208 LlablIrt￿$ Credit(Irs - amounts f￿lIng due withln ono year N•t ¢utt&nt •sselsllLiabilitiesl 147.310 163,208 Total assets 1¢$$ ¢urrent liabililies 147,310 163,208 Creditors - amounts falling due after one year TOTAL NET ASSETS 147,310 163.208 Parish Funds Un¥estricted 103.245 5,923 38,142 147.310 118,515 5,102 39,591 163,208 Reslrictgd Designat8d TOTAL FUNDS Approved bythe Pa¥ochial Church Council on 18 Awil 2021 and signed on its b8haW by.. Fiev'd AfKiy Finn The accompanwng nol6s form a part of these fi'nancial slalemenls. Page20111

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

Balance Sheet at 31 December 2020

Notes
Current assets
Stock
Investments_(shortly to be disposed of for spending)
_6b
Debtors
5
Short term deposits
Cash at bank and in hand
Liabilities
Creditors - amounts falling due within one year
6
Net current assets/(Liabilities)
Total assets less current liabilities
Creditors - amounts falling due after one year
6
TOTAL NET ASSETS
Parish Funds
Unrestricted
7
Restricted
7
Designated
7
TOTAL FUNDS		 2020
£
5,077
125,733
16,499
147,310
147,310
147,310
147,310
103,245
5,923
38,142
147,310		 2019
£
4,604
121,726
36,879
163,208
163,208
163,208
163,208
118,515
5,102
39,591
163,208

Approved by the Parochial Church Council on 18 April 2021 and signed on its behalf by: Rev'd Andy Finn

The accompanying notes form a part of these financial statements.

Page 2 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS For the year ending 31 December 2020

1 Accounting policies

a Basis of preparation

The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations' "true and fair view" provisions, together with FRS102 2016 as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities SORP FRS102.

The financial statements have been prepared under the historical cost convention, except for the valuation of investment assets which are shown at fair value.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those which are informal gatherings of church members.

b Funds

Funds held by the PCC are:

Unrestricted funds - These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or spending on a future project and which are therefore not included in its 'free reserves' as disclosed in the trustees' report.

Designated funds - monies set aside by the PCC out of unrestricted funds for specific future purposes or projects.

Restricted funds - These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.

Endowment funds -These are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend as capital income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the accounts.

c Incoming resources

Recognition of income and endowments

These are included in the Statement of Financial Activities (SOFA) when:

  1. the PCC becomes legally entitled to the use of the resources;

  2. and the inflow of economic benefits is probable; and

  3. the monetary value can be measured with sufficient reliability.

Fundraising costs - Funds raised from events and trading activities (e.g. a fete, a garden party or sales of books and magazines) are reported gross in the SOFA – i.e., before any related costs that may have been deducted from the gross proceeds.

Grants and donations - Grants and donations are included in the SOFA when any preconditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received.

Gift Aid Tax claims, etc. - Gift Aid and other tax claims are included in the SOFA at the same time as the cash donations to which they relate.

Page 3 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

1 Accounting policies (Cont’d)

c Incoming resources (Cont'd)

Gifts in kind - Gifts in kind are accounted for at a reasonable estimate of their fair value at the time of gift, if feasible, or else at the amount actually realised from their disposal. Gifts in kind for sale to fund the PCC are included in the accounts at their estimated fair value at the date of gift, if feasible – or else recognised when sold by the charity. Gifts in kind for the PCC’s own use are included in the SOFA as incoming resources at their fair value when receivable, and expensed as and when consumed in use. Gifts of fixed assets, if material, are included in the balance sheet at their fair value and expensed over the asset’s useful economic life.

Donated services and facilities - These are included in income (and at the same time in resources expended) at the estimated fair value to the PCC of the service or facility received. Volunteer help - The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Rental income - Rental income from the letting of the church is recognised when the rental is due. Investment income - This is included in the accounts when receivable.

Investment gains and losses - This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

d Expenditure and Liabilities

Liability recognition - Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable.

Governance costs - Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants payable without performance conditions - These are recognised in the accounts when a commitment has been made externally and there are no pre-conditions still to be met for entitlement to the grant which remain within the control of the PCC.

e Assets

Consecrated and beneficed property - In so far as consecrated and benefice property of any kind is excluded from the statutory definition of “charity” by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.

Movable church furnishings - These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church's inventory in any case.

Tangible fixed assets for use by the Church - These may be capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market vale on receipt.

Depreciation is calculated to write off the cost of tangible fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:

Land Nil Buildings* Nil Fixtures & Fittings 20 years Computers 3 years Motor vehicles 15 years

Page 4 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

1 Accounting policies (Cont’d)

e Assets (Cont'd)

Investments - Investments quoted on a recognised stock exchange or whose values derive from them (CIFs, etc.) are valued at market value at the year end. Other investments assets are included at trustees' best estimate of the market value.

Trading Stocks - These are valued at the lower of cost (or gift value) or year end fair value. Short term deposits - Include cash held on deposit either with the CBF Church of England Funds or at the bank.

f Fixed Assets

The PCC has no fixed assets, neither tangible nor investment.

Page 5 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

2 Income and endowments

Unrestricted Designated
Restricted
TOTAL
Funds
Funds
Funds
2020
£
£
£
£
a Voluntary income
Planned giving - gift aid
31,860
31,860
Planned giving - Other
630
630
Collections
4,684
4,684
Donations and appeals
4,020
4,020
Income tax recoverable on donations & appe
9,681
9,681
Grants - Groundworks/Tesco
Grants - for major structural renewal
Legacies
2,000
2,000
52,875
52,875
b Activities for generating funds
Fetes, bazaars and other fund-raising events
352
352
Magazine advertising
Church hall lettings to non church organisations
5,311
5,311
Lunch Club receipts
840
840
Traidcraft
352
5,311
840
6,503
c Income from investments
Dividends and interest
403
86
489
Rent from land or buildings owned by the PC
403
86
489
d Church activities
Fees from weddings etc
212
540
752
Magazine sales
3
3
215
540
755
Total income
53,845
5,397
1,381
60,623
2020		 Unrestricted Designated
Restricted
TOTAL
Funds
Funds
Funds
2020
£
£
£
£
a Voluntary income
Planned giving - gift aid
31,860
31,860
Planned giving - Other
630
630
Collections
4,684
4,684
Donations and appeals
4,020
4,020
Income tax recoverable on donations & appe
9,681
9,681
Grants - Groundworks/Tesco
Grants - for major structural renewal
Legacies
2,000
2,000
52,875
52,875
b Activities for generating funds
Fetes, bazaars and other fund-raising events
352
352
Magazine advertising
Church hall lettings to non church organisations
5,311
5,311
Lunch Club receipts
840
840
Traidcraft
352
5,311
840
6,503
c Income from investments
Dividends and interest
403
86
489
Rent from land or buildings owned by the PC
403
86
489
d Church activities
Fees from weddings etc
212
540
752
Magazine sales
3
3
215
540
755
Total income
53,845
5,397
1,381
60,623
2020		 2019
52,875
52,875		 74,313
4,000
78,313
1,947
1,947
13,887
13,887
588
588
330
330
352
5,311
840
6,503		 2,277
13,887
588
16,752
530
75
605
403
86
489		 530
75
605
212
540
752
3
3		 6,895
200
7,095
25
25
215
540
755		 6,920
200
7,120
53,845
5,397
1,381
60,623		 84,039
13,962
4,788
102,789

Page 6 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

3 Expenditure

a Church activities
Missionary and charitable giving (Note 8):
Overseas:
Home:
Ministry costs:
Diocesan offer
Working expenses
Vicarage expenses
Assistant staff
Upkeep of services
Church running and maintenance
Utilities
Insurance
Maintenance
Major repairs - structural renewal
Mission, training and outreach
Parish magazine
Church hall costs
Utilities
Insurance
Maintenance
Administration
Other governance costs
Lunch club
b Raising funds
Stewardship costs
Fund raising costs
Traidcraft
social events etc
Total resources expended		 2020 2020
69,847
5,364
1,466
76,677		 75,442
6,270
2,301
84,012
194
194		 416
416
412
412
1,043
1,043
194
194		 1,871
1,871
70,041
5,364
1,466
76,871		 77,313
6,270
2,301
85,883

Page 7 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

4 Staff costs

b Related party transactions

Payments made to PCC members in the year for reimbursement of expenses incurred on behalf of the Clergy support: None in this period

Transactions with persons related to PCC members:

Payments totalling £280.00 was made to a relative of a PCC member for playing the organ.

The total donations received from related parties (PCC members) in 2020 was £6,710.

Page 8 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

5 Debtors

Income tax recoverable
Prepayments and accrued income
Other debtors
Creditors
Creditors: amounts falling due within one year
Other accrued expenses(Cheques)
Charitable giving
Church hall deposits
Wedding deposits
Other creditors - accounting adjustment		 2020
2019
£
£
5,077
4,604
5,077
4,604
2020
2019
£
£
0
0
0
0

6 Creditors

Creditors includes wedding deposits of £0.00 falling due after more than one year.

Page 9 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

7 Statement of funds

Unrestricted Funds - undesignated
Unrestricted Funds - designated
Church Repair Fund
Church Hall Repair Fund
Church Hall Account
Restricted Funds
Choir
Lunch Club
Ramp
Tesco - Groundworks
Legacy
Organ
Sequestration Account
Total funds		 At 1 Jan
2020
Income
Expenditure
Transfer,
other gains
and losses
At 31 Dec
2020
£
£
£
£
£
118,515
53,845
(70,041)
926
103,245
15,567
51
0
2,700
18,318
11,210
35
0
818
12,063
12,814
5,311
(5,364)
(5,000)
7,761
39,591
5,397
(5,364)
(1,482)
38,142
343
0
0
0
343
0
840
(19)
0
822
66
0
0
0
66
699
0
0
0
699
3,960
0
0
0
3,960
34
0
0
0
34
0
540
(1,447)
906
(0)
5,102
1,381
(1,466)
906
5,923
163,208
60,623
(76,871)
350
147,310

Page 10 of 11

Final

PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, RIVERHEAD WITH DUNTON GREEN

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ending 31 December 2020

8 Missionary and charitable giving

SKET
Friends of Rochester Cathedral
Friends of Kent Churches
Royal British Legion
Churches Together
Meals for Kippington
Poverty & Hope
Hospice in the Weald
Risti Church Estonia
RNLI
Total
Fees collected by the PCC (in the “agency” capacity):
Total		 2020
2020
2019
2019
£
£
£
£
General
Restricted
General
Restricted
325
278
2
2
10
10
200
15
120
10
494
115
348
672
0
1,257
0
0

Page 11 of 11

Final