Annual Report
and
Financial Statement
of the
Parochial Church Council of St Peter and St Paul, Aldeburgh
For the year ended 31* December 2021
Priest in charge: The Reverend Mark Lowther (Retired August 2021) Assistant Priests: The Reverend Nichola Winter (OLM) The Reverend Johanna Mabey
Assistant Curate: The Reverend James Marsden Curate in Charge — August/December 2021
Bank Barclays Bank Plc Aldeburgh Branch Suffolk Coastal Group 4 Church Street Woodbridge, IP12 2LT
Independent Examiner Perry Hunt Toad Hall Stratford St. Andrew, [P17 1U)
Treasurer Vacant The Parish Office Victoria Road Aldeburgh, IP15 SEA
Parish Administrator Mrs Claire Turner The Parish Office Victoria Road Aldeburgh, IP15 5EA
Minute Secretary Miss Valerie Wallace The Parish Office Victoria Road Aldeburgh, IP15 SEA
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH
Annual report of the Parochial Church Council Applicable Legislation: - England & Wales For the year ended 31 December 2021
Administrative Information
St, Peter and St, Paul Church is situated in Victoria Road, Aldeburgh. It is part of St. Edmundsbury and Ipswich within the Church of England. The correspondence address is the Parish Office, Victoria Road, Aldeburgh, IP15 5EA.
The Parochial Church Council (PCC) is a charity registered with the Charity Commission. PCC members who have served from 1% January 2021 until the date of the signing of the report are:
Incumbent (Chairman) retired August 2021. Incumbent Curate in Charge
Assistant Priest:
Assistant Priest:
The Reverend Mark Lowther The Revd James Marston The Reverend Nichola Winter, SSM The Reverend Johanna Mabey
Warden:
Mr. Kenneth Smith
Deputy Warden:
Mr. Derek Cook
Representatives on Deanery Synod; (For the new triennium until 2021)
Canon Dr. Mo Blackburn Mrs. Nicola Gray Mrs. Sandra Saint
(until 2023) (until 2023) (until 2022) (until 2022) (until 2023) (until 2022) (until 2024)
Mr. Kenneth Hanham Mr. Roderick Linsell Miss Valerie Wallace Mrs Jill Brown Mrs Nicola Gray Mr. Richard Rapior Mr. Adrian Brown
There were four meetings of the PCC during the year, including that after the Annual Meeting.
Note 1: PCC Vacancies
Based on the current number of members on the electoral role there may be up to twelve elected members to the PCC. PCC members are elected to serve a three-year term and there are 8 vacancies. In the event of there being more nominations than vacancies, there will be an election.
Note 2: List of sidespeople standing for re-election on 29-05-2022 (all standing are on the electoral roll)
Mr. Adrian Brown
Mrs. Jill Brown
Mrs. Eve Calvert Mr. Derek Cook Mrs. Dreenagh Forestier-Walker Mrs. Nicola Gray Mr. lan Henderson Mrs. Susan Henderson
Mrs. Felicity Hoare Mr. Roderick Linsell
Mr. Richard Rapior Mr. Roger Skinner Mrs. Frances Smith Mr.Kenneth Smith Mrs.Cheryl Smith Miss Valerie Wallace
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31°" DECEMBER 2021
The Trustees present the report and financial statements for the year ended 31° December 2021. The financial statements have been prepared in accordance with the accounting policies set out to comply with the Charities Act 2011 and Accounting and Reporting by Charities. Statement of Recommend Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16/07/2014. The information set out on page 1 forms part of this report.
Structure Governance and Management:
The method of appointment of PCC members is set out in the Church Representative Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. There are currently two other committees being the Standing Committee and the Finance Committee. The role of the Standing Committee is to meet a couple of weeks before a PCC meeting to prepare the agenda and deal with ad hoc issues as they arise. The Finance Committee has been set up to deal with the preparation of the financial accounts and independent examination and any procedural changes in connection with the finances as and when the need arises.
Day-to-day management and running of the charity is carried out by the Priest in Charge and Church Wardens.
The PCC members received no remuneration. There are no transactions with related parties requiring disclosure.
Objectives and Activities:
The PCC of St. Peter & St. Paul, Aldeburgh, has the responsibility of co-operating with the incumbent, and the assistant Priest in promoting in the ecclesiastical parish the whole mission of the Church; pastoral, evangelistic, social and ecumenical. It also has responsibility for the maintenance and upkeep of the church building, church hall and Fairfield Centre. The PCC has a support structure which includes Standing Committee and committees concerned with finance and fund-raising, Church Hall, Fabric, Fairfield Centre and Sanctuary Guild. These committees deal with the everyday running of the Church and the Standing Committee has power to transact business between PCC meetings. The Diocesan Board of Finance is Custodian trustee of both the Church Hall and the Fairfield Centre. In accordance with Charity legislation, when planning our activities for the year, the incumbent and the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. We try to enable people to live out their faith as part of our parish community through:
- e¢ Worship and prayer; learning about the Gospel and developing their knowledge and trust in Jesus Christ e Provision of pastoral care for people living in the parish and those visiting ® Missionary and outreach work ¢ Provision of a venue for musical and other artistic endeavours for the benefit of the community.
To facilitate this work, it is important that we maintain the fabric of the church, church buildings, car park and churchyard. Both visitors and worshippers are welcomed.
Achievements and Performance:
The Church of England Roll adopted at the Annual Parochial Church Meeting in 2021 stood at 123 with whom 10 lived outside the parish.
Review of the year from the Curate in Charge
Following the retirement of Rector Mark Lowther, worship has continued in our benefice under my guidance.
Over the last few months, we have been going through a strange phase of reforming and rebuilding the confidence of our worshipping community following the restrictions of the pandemic while pausing and reflection as appropriate during vacancy.
Our thriving children’s ministry has continued to grow and develop under the guidance of Rev'd Jo.
Our pastoral care continues thanks to the significant contribution of the elders team.
| would also like to express my gratitude to our Churchwarden Ken and Treasurer Adrian and all the PCC for their patience, support and hard work as we maintain worship and community during the vacancy. The benefice now looks forward to the future and a new priest-in-charge. The Revd James Marston — Curate in Charge
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST PAUL, ALDEBURGH FINANCIAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
Covid continued to have a major impact on the Church’s income and expenditure in the year under review. Any changes between 2020 and 2021 should thus be treated with caution and not used as an indicator of the likely financial outturn in 2022.
Total income for the year amounted to £111,955 (2020: £130,381) and expenditure £123,546 (2020: £112,119). There was an increase of £32,192 (2020: 14,479) in the value of investments over the year. £14,479 in 2020.
The largest expense remains the Parish Share paid to the Diocese, £51,477 (2020: £52,247). The other significant item of expenditure was church administration including staff salaries, £16,271 (2020: £15,436).
Overall income from grants, donations and legacies totalled £54,152, substantially down from the £90,342 in 2020 which benefited from a substantial legacy. A grant of £2,814 was received from the government’s Covid Job Retention Scheme. Ad hoc income continued to be adversely affected by Covid restrictions and voluntary Covid avoidance actions. There was a useful increase in income from various fund raising activities such as the August Friday and Christmas markets which, in total raised £4,374 (2020: £261). Additional income was received from car park donations, £15,677 (2020: £12,620), Church Hall lettings, £6,965 (2020: £4,965), investments and fees from wedding and funeral. The latter showing a welcome rebound.
The Parish Giving Scheme has continued to provide a core proportion of the Church’s income when other sources were adversely by Covid and continues to produce, including Gift Aid around £25,000 a year.
The PCC reviews parish activities and considers major risks that may arise from time to time. All major risks identified have been assessed and satisfactory systems established to mitigate such risks.
investment Policy: The PCC’s policy is to place surplus working capital in interest-bearing bank deposit accounts and to hold longer term funds (including the permanent endowment fund) in the CBF Church of England Investment Fund managed by CCLA Investment Management Ltd. These arrangements are reviewed periodically.
Reserves Policy: The PCC’s policy is to maintain cash reserves equivalent to 6 months’ expenditure in accordance with diocesan guidelines. The policy is to maintain excess free reserves until required for material capital expenditure approved by the PCC. Although the current cash reserves exceed these minimum requirements expenditure, as with income, continues to be depressed by Covid factors.
Grants (outward giving) policy
The PCC supports a small number of charitable entities both at home and overseas such as Christian Aid and the Kagera Diocese in Tanzania. Additionally special collections are held from time to time to support various charities.
Plans for the future
Preparatory work to replace the second set of wooden doors at the west entrance with glass doors and refurbish the west porch has stalled. Although a faculty was applied for to cover this work and discussions are held with the Diocesan Advisory Committee (DAC) it was stated that the faculty application would not be approved unless we appointed alternative architects for the design work. A suitable architect has been identified and it is hoped to move forward with this project once the new incumbent has been installed.
The contactless card terminals have been upgraded and on an average Sunday now account for nearly threequarters of all donations.
St Peter & St Paul’s Church continues to playa vital role in the life of Aldeburgh. Our task continues to be to listen out for what God is asking of us as a church, to plant the right seeds, tend the shoots that indicate the presence of new growth and manage the substantial attendance that we retain.
Statement of the Responsibilities of the Trustees in respect of the Financial Statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (UKGAAP).
In preparing the financial statements the trustees are required to:
-
e select suitable accounting policies and apply them consistently;
-
e observe the methods and principles in the applicable Charities SORP;
-
e make judgments and estimates that are reasonable and prudent;
-
e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
e prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the applicable Charities (Accounts & Reports) Regulations. They are responsible for safeguarding the assets of the charity and taking reasonable step for the prevention and all detection of fraud and other irregularities.
The report was received by the board of trustees on 29-53-22
:
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The Revd James Marston (Chairman)
The Parochial Church Council of the Ecclesiastical Parish of St. Peter & St. Paul, Aldeburgh
Annual Financial Statements of the Parochial Church Council for the year ended 31 December 2021
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH
Statement of Financial Activities
for the year ended 31 December 2021
| UNRESTRICTED | RESTRICTED | ENDOWMENT | TOTALFUNDS | |||
|---|---|---|---|---|---|---|
| FUNDS | FUNDS | FUNDS | 2021 | 2020 | ||
| Notes | ||||||
| £ | £ | £ | £ | £ | ||
| Income and Endowments | ||||||
| Grants, donations and legacies | 2(a) | 54,152 | 54,152 | 90,342 | ||
| Fund raising activities | 2(b) | 4,347 | 4,347 | 261 | ||
| Church activities | 2(c) | 43,144 | 43,144 | 29,216 | ||
| Investment income | 2(d) | 554 | 5,618 | 628 | 6,800 | 6,894 |
| Other | 2(e) | 3,512 | 3,512 | 3,668 | ||
| Total Income | 105,709 | 5,618 | 628 | 111,955 | 130,381 | |
| Expenditure | ||||||
| Expenditure on church activities | 3(a) | 123,456 | 123,456 | 112,029 | ||
| Support costs | 8 | 90 | 90 | 90 | ||
| Total expenditure | 123,546 | - | - | 123,546 | 112,119 | |
| Net incoming/(outgoing) resoures | ||||||
| before transfers between funds | (17,837) | 5,618 | 628 | (11,591) | 18,263 | |
| Transfers between funds | (2,122) | 2,750 | (628) | - | - | |
| Net incoming/(outgoing) resoures | ||||||
| beforegains/(losses) oninvestments | (19,959) | 8,368 | - | (11,591) | 18,263 | |
| Unrealised gains/(losses) on investments | 7 | 2,036 | 27,051 | 3,105 | 32,192 | 14,479 |
| Netmovement in funds | (17,923) | 35,419 | 3,105 | 20,601 | 32,741 | |
| Total funds broughtforward | 225,754 | 269,769 | 21,592 | 517,115 | 484,374 | |
| Totalfundscarriedforward | 207,831 | 305,188 | 24,697 | 537,716 | 517,115 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH
Balance Sheet as at 31 December 2021
| UNRESTRICTED | RESTRICTED | ENDOWMENT | TOTALFUNDS | |||
|---|---|---|---|---|---|---|
| FUNDS | FUNDS | FUNDS | 2021 | 2020 | ||
| Notes | ||||||
| The assets andliabilities ofthe charity | ||||||
| £ | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Tangible fixed assets | 4a | 114,630 | 114,630 | 124,495 | ||
| Investment assets | 4b | 16,270 | 216,153 | 24,697 | 257,120 | 224,928 |
| Total fixed assets | 130,900 | 216,153 | 24,697 | 371,750 | 349,423 | |
| Current assets | ||||||
| Debtors | ||||||
| Shortterm deposits | 53,425 | 48,389 | 101,814 | 101,540 | ||
| Cash at bank | 23,506 | 40,646 | 64,152 | 66,152 | ||
| Total current assets | 76,931 | 89,035 | - | 165,966 | 167,692 | |
| Current liabilities | ||||||
| Creditors due within one year | - | - | ||||
| Net current assets | 76,931 | 89,035 | - | 165,966 | 167,692 | |
| TOTALASSETS LESS LIABILITIES | 207,831 | 305,188 | 24,697 | 537,716 | 517,115 | |
| Thefunds ofthe charity | ||||||
| Unrestricted funds | ||||||
| Unrestricted | 178,844 | 178,844 | 197,168 | |||
| Designated (Fairfield Centre) | 28,987 | 28,987 | 28,586 | |||
| Total unrestricted funds | 207,831 | - | - | 207,831 | 225,754 | |
| Restricted funds | - | 305,188 | - | 305,188 | 269,769 | |
| Endowment funds | - | - | 24,697 | 24,697 | 21,592 | |
| TOTALFUNDS | 207,831 | 305,188 | 24,697 | 537,716 | 517,115 |
These accounts were adopted at the Annual Parochial Church Meeting on
and signed by the Chairman, the Revd. J. Marston:
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Notes|to|financial|statements|.|
|for year ended year ended ended|31|December|2021|
|UNRESTRICTED|FUNDS|RESTRICTED|ENDOWMENT|TOTAL|TOTAL|
|Note|FUNDS|FUNDS|
|General|Fund|Designated|
|2021|2020|
|2|INCOME|from|
|£|£|£|£|£|£|
|2(a)|Grants,|donations and|legacies|
|Committed|donations|31,849|31,849|34,108|
|Gift|Aid|recoved|3,821|3,821|3,786|
|Open|plate|collections|9,104|9,104|3,492|
|Other|donations|6,564|6,564|9,346|
|Legacies|-|-|39,610|
|JRS|Grant|2,814|2,814|-|
|54,152|-|-|-|54,152|90,342|
|2(b)|Fund|raising|activities|
|August|Friday|markets|2,062|2,062|-|
|Christmas|Market|1,145|1,145|-|
|Other|1,140|1,140|261|
|4,347|-|-|-|4,347|261|
|2(c)|Income|from|church|activities|
|Fees|(weddings,|funerals|etc)|13,853|13,853|7,568|
|Fairfield|Centre|6,098|6,098|3,879|
|Use|of car|park|15,677|15,677|12,620|
|Use|of church|hall|6,965|6,965|4,965|
|Use|of Church|551|551|-|
|Youth|Club|-|-|185|
|37,046|6,098|-|-|43,144|29,216|
|2(d)|Investment|income|
|Interest|and|dividends|415|140|5,618|628|6,800|6,894|
|2(e)|Other|income|
|Other|1,392|2,120|-|-|3,512|3,668|
|TOTAL INCOME|97,351|8,358|5,618|628|111,955|130,381|
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Notes to financial statements
for year ended year ended ended 31 December 2021
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH
Notes to financial statements
for year ended 31 December 2021
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Note|
|TOTAL|TOTAL|
|2021|2020|
|3a|EXPENDITURE|on|
|£|£|
|Church|activities|
|Missionary|and|charitable|giving|4,565|3,300|4,565|4,565|
|Ministry:|Parish|share|51,477|52,247|51,477|51,477|
|Clergy expenses|3,184|3,773|3,184|3,184|
|Church|running|costs|(utilities)|5,895|8,622|5,895|5,895|
|-repairs|&|maintenance|5,296|4,371|5,296|2,692|
|Upkeep|of services|4,472|3,124|4,471|1,566|
|Fair|linen|incl.|altar frontal|2,250|2,250|2,250|
|Church|administration|16,271|15,436|16,271|12,790|
|Children|and|Youth|club|1,134|909|1,134|1134|
|Upkeep|of churchyard|3,341|500|3,340|3340|
|Church|Hall|running|costs|(utilities)|1,825|1,914|1,825|1825.26|
|-repairs|&|maintenance|2,513|2,193|2,513|2513.34|
|Fees|1,814|868|1,814|1814|
|Fairfield|Centre|5,837|3,439|5,837|5837.15|
|Music|licences|895|471|896|895.58|
|Sundry|expenses|702|997|702|659.15|
|111,471|102,164|111,471|
|Support|costs|
|Independent|Examiner's|fee|90|90|90|
|Other|
|Donation|of|collection|for former|incumbant|2,120|2120|
|Depreciation|(note|4a)|9,865|9,865|
|TOTAL EXPENDITURE|123,546|112,119|
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH Notes to financial statements for year ended 31 December 2021
1. ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with the Statement of Recommended Practice applicable to charities preparing their accounts under the Financial Reporting Standard applicable in the UK and Republic of !reland (FRS102) issued in March 2018) and the Financial Reporting Standard applicable in the United Kingdom and Republic of treland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. They have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
The accounts (financial statements) have been prepared to give a 'true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view". This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in March 2018.
The presentation currency is £ (pound) sterling.
The PCC meets the definition of a public benefit entity under FRS102.
Fixed assets
Church Hall & Fairfield Centre buildings
Commencing in 2000, depreciation is being provided on the buildings of the Church Hall and Fairfield Centre. The depreciation rates are: Church Hall 4% of valuation, Fairfield Centre 2%-5% of cost. The Car Park is being depreciated at 10% of cost. No revaluation of the buildings has taken place subsequently.
investments
Investments are valued at their market value at 31* December in the applicable year.
Consecrated property and movable church
furnishings
Consecrated and benefice property is excluded from the financial statements by s.10(2)(a) of the Charities Act 2011.
Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated and listed in the church's inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in these accounts. Any items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life, usually four years, on a straight-line basis.
Other fixtures, fitting and equipment Individual items of equipment with a purchase price of £2500 or less are written off when the asset is acquired.
The Steinway Piano has been capitalised at its purchase price and has been depreciated to its estimated residual value of £15000.
All expenditure incurred in the year on consecrated or benefice buildings, any individual items under £2,500 or the cost of repairs to movable church furnishings acquired before 1 January 2001 is written off.
Other fixtures, fittings and equipment
Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items with a purchase price of £2500 or less are written off when the asset is acquired.
Current assets
Short-term deposits include cash held on deposit either with UK banks.
Current liabilities
Creditors are shown at their settlement amount.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH Notes to financial statements for year ended 31 December 2021
Funds
General funds are those which are not subject to any restrictions regarding their use and are available for the PCC's general purposes. Funds designated for a particular use by the PCC itself are also unrestricted. Restricted funds are those which must be spent on restricted purposes and details of the funds & their restrictions are included in the notes to these accounts as are Endowment funds, where the capital must be retained.
The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members. They do not include certain minor funds each amounting to less than £500.
income
Voluntary income and capital resources Collections are recognised when received by or on behalf of the PCC.
Planned giving receivable under Gift Aid is recognised when received. Tax recoverable on Gift Aid donations is recognised when the donation is recognised.
Grants and legacies are accounted for when the PCC is notified of its legal entitlement, its ultimate receipt is reasonably certain and the amount due is quantifiable.
Funds raised by fund raising events are accounted for gross. Sale of cards and other items from the church bookstall are accounted for gross.
Income from the hire of property This is recognised when the hiring fee is received.
Income from Investments Dividends and interest are accounted for when received.
Gains and losses on investments
Gains and losses are recognised when investments are sold. Unrealised gains and losses are accounted for on revaluation of the investments at 31 December.
Expenditure
Resources Expended
Grants and donations are accounted for when paid over or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for missions are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross.
Taxation
As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Tax recovered from voluntary income received under gift aid is recognised when received and is allocated to the income category to which the income relates.
Value Added Tax is not generally recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities. However, for some capital assets included as part of the faculty, it is possible to reclaim the Value Added Tax charged.
Funds structure policy
General unrestricted funds are general funds which may be used for PCC ordinary purposes.
Designated funds are unrestricted funds set aside at the discretion of the PCC for specific purposes. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest and (b) donations or grants received for a specific object. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
Endowment funds are funds, the capital of which must be maintained only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.
There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above.
Any other proposed transfer between funds would be considered on the particular circumstances.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH Notes to financial statements for year ended 31 December 2021
Accounting for Legacies
Legacies are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH
Notes to financial statements for year ended 31 December 2021
FIXED ASSETS
Notes
4a Tangible fixed assets
| Church Hall and Land |
Church Hall and Land |
Fairfield Centre |
Plantand machinery |
Total | |
|---|---|---|---|---|---|
| Cost01.01.2021 | 118,890 | 75,243 | 103,748 | 297,881 | |
| Additions | |||||
| Cost 31.12.2021 | 118,890 | 75,243 | 103,748 | 297,881 | |
| Depreciation 01.01.2021 | 54,426 | 35,212 | 83,748 | 183,251 | |
| Depreciation | 8,360 | 1,505 | 9,865 | ||
| Depreciation 31.12.2021 | 62,786 | 36,717 | 83,748 | 183,251 | |
| Netbookvalue31.12.21 | 56,104 | 38,526 | 20,000 | 114,630 |
- 4b Investment - shares
Unrestricted funds
Certain assets of the unrestricted funds are invested in the income shares of the Church of England Investment Fund see also note (7). The market value as at the balance sheet date of these shares was £16,270.
Restricted funds
Certain assets of the restricted funds are invested in the income shares of the Church of England Investment Fund see also note (7). The aggregate market value as at the balance sheet date of these shares was £216,153.
The income and capital may only be used for any expenses specified in the appropriate convenant.
Endowment fund
The Church House Trust fund is a permanent endowment invested in the income shares of the Church of England Investment Fund. The market value as at the balance sheet date was £24,697.
Whilst the capital must be held as a permanent endowment the income can be used for any expense related to the Church Hall.
5 STAFF COSTS 2021
2020
| Wages& salaries plus Social | ||
|---|---|---|
| Security costs | 12,732 | 12,992 |
| Pension contributions | 402 | 174 |
| 13,134 | 13,166 |
6 PAYMENT TO TRUSTEES Apart from reimbursement of expenses to Revd P M Lowther, Revd N Winter, RevdJ Mabey and RevdJ Marston, no remuneration was paid to the Trustees by the charity during the year (2020 £0).
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. PETER & ST. PAUL, ALDEBURGH
Notes to financial statements for year ended 31 December 2021
| £ | £ | £ | £ | £ | |||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | Unrealised | ||||||||
| 7 | RESTRICTED FUNDS | Opening | balance | Transfer | Interest | Gain/(Loss) | Closing | balance | |
| Art | 445 | 3 | 448 | ||||||
| Charitable giving | 6,019 | 6,019 | |||||||
| Church house trust (income) | 2,962 | 77 | 382 | 3,421 | |||||
| Fabric | 6,344 | 6,344 | |||||||
| Fabrication | 89,259 | 1,609 | 7,665 | 98,533 | |||||
| Glass doors | 455 | 3 | 458 | ||||||
| Church hall | 250 | 250 | |||||||
| Hazell memorial | 1,420 | 1,420 | |||||||
| Margaret Smith legacy | 879 | 6 | 885 | ||||||
| Mildred Page legacy | 106 | 1 | 107 | ||||||
| Pleasance Partridge legacy | 144,493 | 3,854 | 19,004 | 167,351 | |||||
| Projection system | 514 | 3 | 517 | ||||||
| Rooffund | 35 | 35 | |||||||
| Sheila Stainton legacy | 2,750 | 2,750 | |||||||
| Stacy | 12,266 | 43 | 12,309 | ||||||
| Trinity chapel altar | 2,951 | 19 | 2,969 | ||||||
| Vicars and Churchwardens Tst | 108 | 108 | |||||||
| Youth club | 1,263 | 1,263 | |||||||
| 269,769 | 2,750 | 5,618 | 27,051 | 305,188 | |||||
| ENDOWMENT FUND | |||||||||
| ChurchHousetrust | 21,592 | (628) | 628 | 3,105 | 24,697 |
8 INDEPENDENT EXAMINER
The accounts include the Independent Examiner's fees of £90
9 TRANSFERS
Qualifying expenditure from a restricted account is identified by recording it as a transfer to the PCC general unrestricted account and paying from that account. In line with this policy there were two transfers totally £2,535 from restricted funds.
There was a transfer of £628 being the income on the permanent endowment fund for expenses relating to the Church Hall.
10 OTHER
Gift Aid is recognised when received from HMRC
The financial statements do not incorporate the following charitable trusts administered by the Rector and Churchwarden: Ecclesiastical Charity of the Reverend Thomas Emly
The Charity of John Edward Kemp
The insured value of the Church, Church Hall, Church Office and Fairfield Centre buildings and contents is £19,200,000
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER AND ST PAUL, ALDEBURGH
Independent Examiner's Report to the Trustees of the Charity
| report on the accounts of the church for the year ended 31st December 2021, which are annexed hereto.
Respective responsibilities of trustees and examiner.
The church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 ("the Act") and that an independent examination is needed.
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It is my responsibility:
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° to examine accounts under Section 145 of the Act,
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° to follow the procedures laid down in the general Directions given by the Charity Commission pursuant to Section 145(5)(b) of the Act, and
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° to state whether particular matters have come to my attention.
Basis of independent examiner's report.
My examination was carried out in accordance with the General Directions given by the Charity Commission. The examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented by those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connexion with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements
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® to keep accounting records within Section 130 of the Act: and
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¢ to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
\ (erageee | Nat Peregrine Hunt
Date: 2..\3\ 2p2e \ \
Toad Hall Stratford St Andrew Suffolk IP17 1U