Parochial Church Council of Holy Trinity Strarford-Upon-Avon with All Saints, Luddington and St Helens Clifford Chambers Financial Statements of the Parochial Church Council For the year ended 31 December 2021 Unaudited Registered Charity 1128665 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY sTRATFOR￿uPOTr1-Ay0N WITH ALL SAINTS, LUDDI.YGTON ST HELENS CLIFFORD CHAMBERS ANNUAL REPORT 2021 CONTENTS Charity Information Annual Report Independent Examiner's Report Statement of Financial Activities io Balance Sheet li Statement of cash flows 12 Notes to the Financial Ststements 13 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY sTRATFoRT￿uFON-Av0N wrrH ALL SAIIYTS. LUDDI.N4GTON MD ST HELENS CLIFFORD CHLMBERS ANTr4UAL REPORT ZOZI CHARITY INFORMATION R¢gl$ter¢d oddre$s The Parish Centre Old Town Stratford-upon-Avon CV37 6BG Independent Examiner David Hoos¢ Mazars LLP First FlÉ)or Two Chamberlain Squar¢ Birmin8haJn B3 3AX Banktrs HSBC 13 Chap¢l Streei Stra¢ford-upon-Avon Warwickshire CV37 6ET CAF Bank 25 Kin8s Hill Av¢nue Kings Hill West Malling Kent ME19 4JQ PAROCHIAL CHURCH cOU￿ClL OF HOLY TRINITY STRATFORD-UPON-AVON WITH ALL SAINTS, LUDDINI GTON AliD ST HELENS CLIFFORD CHAMBERS ANNUAL REPORT 2021 The beginning of 2021 found us back in Coronavirus Lockdown, so in-person corporat¢ worship WAS again not possible, but live-streatned services continued. Various groups within the church, such as homc groups, th¢ ¢hoir and thma group, were once again having Zoom meetings, and PCC and Standing CoTnmitt¢¢ Tn¢¢tings W¢￿ back on Zoom too. Our first PCC "Away Day", on 5, Jun¢ also had to be held via Zoom, but on 18, Sepiember w¢ wer¢ abl¢ to hold a v¢ry su¢¢¢s$￿] ill-person Away Day at TELe House of th¢ Open Door in Childswickham near Broadway in the Cotswolds. From May on, churches were once again allowcd to opcn their buildings and, manncd by a faithful band of volunteers, Holy Trinity was opened for a couple of hours each day to encourage visitors. In-p¢rson services were once again resumed in Holy Trinity, with the 10 a.m. service simultaneously being bioadcast ontine. The two villagc churches in our parish opened for prayer for a few hours each week and had a service on alternating Sundays. Groups, includillg the PCC and the Standing Committee, started meeting face-to-fa¢¢ again, and th¢ Trinity Players were at last able to put on their long-awaited production of "Murder in th¢ Cath¢dral" in Holy Trinity. As expecte4 it was an outstanding production. which played to filll soci&lly disianced hous¢5 for 4 nighis in July. In Nov¢tnb¢r, th¢ Stratford ChoAI Society perfomied Brahms'$ "Geman Requiem" in Holy Trinity, and in D¢Kmber, a progrJm of Christmas music. In December, a number of Strarford-upon-Avon schools were again able to hold their Christmas Carol Services in Holy Trinity. Throughout the pandemic we continued to publish our monthly magazinc. 'Trinity Times,, both online and with some printed copies delivered to those who are not on the internet. The Annual Parochial Church Meeting was held on Sunday 9, May. and there was also a Zoom ¢onn¢¢tion for those unable to attend in person. The Electoral Roll numbered 344. Of th¢s¢, 305 are from Holy Trinity, 17 from All Saints, Luddington and 22 from St Helen's, Clifford Chambers. The 2021 figures for baptisms, weddings and funerals are as follows.'- Baptisms- Wedding5: 19 at Holy Triniry. l at All Saints, O at St H¢len's 16 at Holy Trinity,. 2 #t All Saints,; l at St H¢len's; l at th¢ Guild Chap¢l. 3 at Holy Tritiity,. O at All Saints. O at St Helen's 21 at Holy Trinity,. 2 at All Saints, 3 at St H¢len'$ l ai Holy Trinity,. O at All Saints, O at St H¢l¢n's 6 at Holy Trinity- 2 at All Saint5. 2 at St Helen's 30 at Oakley Wood. l at Robin Hood. 4 al the Vale S¢rviccs of Bjcssing.. FuThcrals'. Mcmorial S¢rvices IDternienl of Ashe5 Cremations Thc ministry tcam consists of thrcc clcrgy, onc of whotn is s¢lf-supporting, and thc Children & Families Minister. who is also a Reader. They are ably supported by five retired clergy. and one person who has the Bishop's pcrniission to prcach. Our Vicar is also Arca Dean for tb¢ Fossc Deanery. and all three clergy are honorary chaplains to the Royal Shakespeare Theatre. Two members of our church are Foundation Governors for Holy Trinity Primary School, along with the Vicar. who is also a member of the Council of the Shakespearc Birthplace Trust. Our staffmg situation was steady throughout 2021 with several positions on a combination of full or part- time furlough, all of whom returned to their full employment post furlough. We bav¢ 2 fiill timc and 3 part time staff employed. PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFoRt￿UPoN-AYoN wrrH ALL SAINTS, LUDDINGTON Af4D ST HELENS CLIFFORD CHAMBERS ANNUAL REPORT 2021 In order to op¢n the church, we now have a team of volunteers who, when necessary, according to hanging Govcrnment instw¢tions, hav¢ made sure that Covid restrictions are a(ihered to and the ¢hw¢ is thoroughly cl¢aued. Special mention should b¢ made of our ¢hur¢hward¢ns.' Paul Lageu, Helen Warrillow, Sherron Guise and Tim Rai5trick. Our thanks Also go to Mike Warrillow, Honorary Treasurer. Chris Kennedy, Stewardbhip OtTicer' Mark Sayers. Honorary Clerk of Works, and Liz Roome. Honorary Secretary to the PCC. Our safeguarding policy is displayed on the Church website, and all trustccs, cmployees and volunteets involv¢d in a¢tivities wilh children or vulnerable adults have valid DBS c¢rtificatcs. All records are kept strictly in accordance with the General Data Protection Act. There have not been any serious incidents- and a risk management strategy is in place. FINANCIAL REVIEW The PCC'S funds Comprise those of Holy Trinity, All Saints, and St Helen's churches which are managed separatsly though the a¢￿Unts ar¢ ¢onsolidated at the end of the year. Hoty Trinity funds By far thc largest resour¢e mov¢mentg relate to Holy Trinity. The church's unrestricted funds are split, by designation, into th¢ Parochial Fund (effectively the PCC'S general fvnd which eover8 all current actLVlties of a Slrictly parochial naturc including th¢ cogt of ministry, music eic). th¢ R¢storation Fund which covers the day to day maintenancc of th¢ church building and its ministry to visitorslhcritage fim¢tion as well as its actual restoration. the Parish Hall Flind cov¢ring ￿￿tal incomc and day to day costs of the Parish Centre; the t£gacies Fund which is self-explanatory and u¥¢d for Specific capital costs: the Social Fund using the proceeds of events to finance the church's so¢ial lif¢ and raise money for projects, and the Community Fund enabling grants to bc givcn to individuals in need from a tithe on the church shop proceeds. There are some small. restricted funds, which are detail¢d in the annual accounts, and $om¢ of which are referred to below. Major proj¢cis at Holy Trinity in 2021 include the installation of a glazcd screen on the North Transept (£3,552}, upgrading cameras in the church for live streaming {£3.245) funded by a number of generous donatlODS from m¢mb¢rs of the ¢ongregation. Work commenced and continues into 2022 on repointing thc slon¢work on the Nortb Transept (£100,067) and restoration of the King James Bible together with a new display ¢as¢ (£4,336} - fijnded by the Friends of Shakespeare's Church. In addition, a temporary roof was installed ov¢r the Grad¢ 2 list¢d Bier house to make waiertight and prevent further d¢terioration (£5,739) while the ext¢Tiof 5P()tlights on th¢ spire were replaced with LED fith'ngs (£3,849), th¢r¢by improving our green credcntia15 and redu¢ing ¢le¢tri¢ity ¢osts. At ihe end of 2021. we also rommitted to move to renewablc gas from April 2022 meaning that from this date, all Holy Trinity gas and electricity comes from rcll¢wablc $our¢e8. As regards day to day income and cxp¢nditur¢ on th¢ Restoration Fund, since the r¢mov#l of Covid restriction, the church has been open for a limited period cach day and is manned solely by volunteers. Visitor feedback has been very p051tiv¢ to th¢ warnith of welcome and knowledge of the church and without their commitmcnt, we would not hav¢ b¢en able to operate. Donations fr()m visitors to Shakespeare's grave increased marginally to some £45,000 for the year refl¢¢ting the period of closure and reduced hours yet have increased through th¢ y¢ar as public confidence retUTns. Shop salcs w¢r¢ just about £6,000 (again reflecting limited opening) although purchases were rorrespondingly reduced at £2,000. The fund showed an in-year increase of £1,000 and endcd the year at around £162,000. There remain significant requirements for future expenditure. for exampl¢ on the south aisle roof and the bier house in the churchyard. The Parish C¢ntr¢ was unavailable for external letting for the f￿st half of thc year. However, the Parish Hall Fund recorded a small surpliis of £666 in the year which marginally reduces the historic deficit on thi5 fund, whi¢h nuw stands at £56.471. PAROCHIAL CHURCH COUNCIL OF HOLY TIUNITY sTRATFOR[￿UPo￿-AVON W￿H ALL SAINTS, LuDD￿NGTON AND ST HELENS CLIFFORD CHAMBERS ANIYUAL REPORT 2021 The Parochial Fund began the year with a small surplus of around £650. Income from regular giving has increased by nearly 70/0 to around £123,500 (plus around £31,500 tax reclaim under Gift Aid). The proportion ¢oming from standing orders has further increased from 740/0 to 85/0 #s p¢opl¢ have switched to help maintain giving. Donations from the collection plth have improved by nearly 50910 to £5,600 from the very low levels in 2020 but, with reduced congregations, are still remain far below th¢ £18,000 levels enjoyed pre-pandemic. Donations for use of the church for concerts and similar events have also slart¢d to i¢¢ov¢r and r¢a¢h¢d £1,800 agains¢ the £ 1,000 r¢¢¢iv¢d in 2020. Thc fund now mccts all of the salary of the Children and Families Minister. The Parish paid a Parish Share of £99,715 in 2021 compared to £113,424 in 2020. Therefore, while the Parish continues to pay its full cost of clergy, there was no contribution towards the Dioccsan Support Fund. Thc fund was £10,000 ill surplus in 2021 and thus has a balance of about £10,650 going Fo￿Vard. The unrestricted t£gacies Fund has received a total of £250 in 2021 which will b¢ d¢vot¢d to various projects in hand. Trinity Playe￿ Fund increased by about £2,260 largely relating to donations from Murder in the Cathedra] perfomiances. The restricted Eund shows a surplus of some £4,850 at year end, most of which will again be donat¢d to ongoing projects. The Prop¢rties R¢.%tricted Fund r¢¢eiv¢s th¢ inveqtsnent income from St Jam¢s's Trust, plus hous¢ rcnts partly offsct by tnaintcnanc¢ costs. In 2021, w¢ opt¢d to to exchange the usage of our properties. makÈng 2 St Johll's Clos¢ th¢ ¢l¢rgy hous¢ and 3 Coopers Close the rental prop¢rty. This has the benefit of making Ihc cl¢rgy hous¢ much ¢loscr to Ihc church whil¢ g¢n¢rating a much I￿ger rental income. Minor repair5 were r¢quired on Coop¢rs Close and a 3-year agr¢¢m¢nt at twic¢ th¢ rent previously obtained frotn St JohT)'s has b¢¢n signed. How¢v¢r significant updating and repair was required ai St Johns (costing just ovcr £16,000) after many years of low cxp¢nditure. The deficit at the year's end was approximately £12,000 and ihis is anticipatcd to rdu¢¢ ￿ brcak cvcn IEL early 2023. A number of church teams have requested that restricted funds ar¢ s¢t up within the church accounts. These inclltde the Social Team, Trinity Ladies and Sunday Coffee, all of which appear on the list of reslricted accounts. In general, the surplus from the accounts 15 donated io church projects or to local charitics. Othcr rcstrictcd funds havc mostly shown ncgligiblc movcmcllt. Donations and collections for charitable purposes were limited. The walk-through fonnat of Christmas services continued in 2021 and was again very well received and donations {and associated gift-aid) of £2,005 wtte on¢e again d¢vot¢d to the PCC'S three chosen charities. A]1 Saints, funds All Saints, funds comprise a General Fund and a restricted Village Fabric Fund, togeth¢r with th￿¢ oth¢r very small restricted funds, one providing books for Sunday School c￿'[drell, one supporting ¢hildrcn' work more generally (¢urrently inactive), &nd a Flower Fund established following a Icgacy. The General Fund investments appreciated by £9,243 #nd it remains healthy at about £77,437. Th¢ r¢stri¢ted Village Fabric Fund also rejnains healthy at about £22,500. St Helen's funds Sl Hclcn's fimds compri$c a Grncrnl Fund and a restricted Fabric Fund. The General Fund ITh 2021 showcd a Surplus of £1,635. and thc balancc is now around £12,000. Th¢ Fabric Fund showed a surplus of £1,409 r¢flech'ng thc litnit¢d l¢vel of rcsloration and upgrading work #nd now stands at £18.077 alongside which may bc counted thc rcsourccs gathcrcd separatcly by th¢ Fiicnds of St Helen's towards restoration of thc building. PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFORD-UP0Tr4-AVON WITH ALL SAINTS, LUDDINGTON ST HELEf4s CLIFFORD CHAMBERS ANNUAL REPORT 2021 PCC balance sheet Thc ovcrall balance she¢t #t th¢ ¢nd of th¢ year stood at around £305,429, an in¢rcase of £10,741 on the previous year. W¢ b¢lieve thi5 is a crcditablc p051tion considering the Contill￿d Covid restrictions and loss of donations from visitors at Holy Trinity during the y￿. The remaining inveslment holdings across the parish {now mainly at All Saints) are currently valued at about £79,OIM). Money held on deposit totals aboui £165,000 of which £109,797 is attributabl¢ to Holy Trinity. Money in ¢urrent bank ac¢ounts and c&sh amounts to around £49,01)O, of whi¢h around £31,000 is attributabl¢ to Holy Trinity- In 2ddition, Holy Trinity retains some £29,300 worth of shop Stock, a reduction of £3,600 from 2020 levels. The value on paper of the property at 2 St John's Clos¢, occupicd by thc As$ociat¢ Vicar, ha5 now been d¢preciated to zero on the balan¢¢ she¢l, though of course it rcmains a pOt¢ntI￿ ass¢t. Th¢ property at 3 Coopers Close, which is currently r¢ntd out, klongs to thc separale St James's Trust. outstanth.ng liabiliti¢s at year's end w¢r¢ £44.828, largely reflecting invoices not due and wedding deposits. This however includes £10,288 deposit on a colltrnct for the len-year organ service. This work was originally due in 2021 but has been deferred until January 2024 to cau5¢ the minimum disruption in arrangements and allow the opportunity for fi￿d rdising. The value of this contract agreed in December 2021 is £57,155 plus VAT plus annual price indexation. Salarles Th¢ total salary bill, including National Insurance and pension contributions, w&$ some £98.0(Xl, a r¢duclion of about £38,000 on 2020. (This ¢x¢lud¢s the stipends of the clergy which are met through Parish sha￿.) The reduction refl¢cts the rontinued restru¢turing of staff durittg th¢ dn.ven primarily by Covid restri¢tions. lrt addition, w¢ r¢¢eived £26,328 from the Govert]m¢nt's Coronavirus Job Retention Scheme. The PCC conthbutes 5.5 /0 of ¢ligibl¢ $tJif$ salaries (which is more generous than is CUTrcntly r¢quired by lttw) to a pension scheme administ¢r¢d by th¢ Chur¢h of England Pensions Board undcr ihc govcrnm¢nt's auto-cnrolni¢nt Icgislation. Staff 5alari¢s arc ben¢hmarkcd against good practice in other PCCS in ihc Major Churches Nclwork. and all staff salari¢s arc above the Living Wage (as recommended by the Living Wage Foundation, which is higher than that required by law. Annual increases are benchM￿ked against rates for the Coventy Dioc¢san l&y staff. Reserves Policy The PCC'S policy is to maintain in the unrestricted reserves a minimum of six months, unavoidabl¢ payroll commitments - currently around £S0.000 - and normally to keep around £50,01)O towards tuturc restoration expenditure. li will be clear from the above that this policy was fulfill¢d throughout 2021. However, it is likely that we will dip below this level in 2022. Fraud, theft, and damage There is no ¢vi(kn¢¢ of any impttirni¢nts in 2021, and th¢ PCC is thankful for th¢ vigilance of paid staff and elect¢d offi¢¢r5 which ¢n5ures that prop¢rty is k¢pt se¢ur¢ and that receipts and payments are processed s¢¢ur¢ly and in good rim¢. Risk &qse%sments, financial and other, ar¢ ¢arri¢d out as required on all activities, and a comprehensive update of the PCC'5 r¢gular overall financial risk assessment is due. Strncture overnance and mana ement The PariKhial Church Council (PCC) is a corporate body established by the Church of Engl&nd. It operates under the PCC Powers Measure 1956 and Church Representation Rule8 2011. The PCC 18 r¢gist¢red with the Charity Commisston, Registration N.umber 1128665. The m¢ihod of appointm¢nt of PCC members is in line with the Church Representation Rulcs. In Strarford Parish, membership consists of the Incumbent (our Vicar), churchwarden5, our Associate Vicar, PAROCHIAL CHURCH COUNL CIL OF HOLY TRtNITY STRATFoRi￿UPoN-AYoN WITH ALL SAINTS, LUDDINGTON AND ST HELENS CLIFFORD CHLMBERS ANP4UAL REPOR'12021 Associate Priest. and members elected by those of the congregatiou who are on ibe Electoral Roll of the Parish. All those who attend our service￿meMberS of t￿e congregation are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC is responsible for making decisions on all matters of general concern and importance in th¢ parish including how the ￿ndS of the PCC are spent. A Standing Committ¢¢ of the PCC (established undei the said Church Representation Rul¢s), comprising the Vicar. 4 Chur¢hwardell5, 4 members electcd by thc PCC, tog¢ther with the Associate Vicar, Operations Manager, meets regularly, making urgent d¢¢isions or s¢nding recommendations to PCC. In addition to its awaydays, the PCC mei 5 timcs (luring th¢ ycar with an average attendatLce of 910/0. Following a review of how best to operate, we have moyed away froTt] PCC teams dedicated solely to Buildings; Children. Youth & Fatllilies; Finance & Stewardship. Holy Trinity in the Community. Liturgy & Worship- Social,. Visitor Experience and Volunteers. Time is now taken in each PCC meeting to review the activities performed by a variety of groups within the church. This new approach is providing the dual benefit of greater awareness of key areas of church life as well as providing a fonyn for groups to share issues and successes with PCC members. Administrative inforniation The Parish of Stratford-upon-Avon ¢ompris¢s three churches. Holy Trinity in Straiford Old Town along5idc th¢ Rivcr Avon, All Sainis. in the small village of Luddington and St Hcl¢n's in thc small villag¢ of Clifford Chamb¢rs. The ¢orrespond¢n¢¢ address is Parish OtTi¢e, Old Town, Strarford-upon- Avon, CV37 6BO. PCC members who have served from 1st January 2021 iintil th¢ dat¢ the r¢port wag approv¢d: Ex-officio m¢mbers Incumbent Associate Vicar Associate Priest Rcvcr¢nd Palrick Taylor Reverend Steve Jarvi5 Reverend Kay Dyer Chair Churchwardens Ms ShernTrn Guise Mr Paul Lageu Mr Rhod Mitchell Miss Gill Price Mr Tim Raistrick Mrs Helen Warrillow from May 2021 until May 2021 until May 2021 from May 2021 Diocesan Syllod Mr Anthony Woollard Dean¢ry Synod Miss Jane Arn)itage Mr Richard Hartley Dr Lind8&y McDonald Mr Peter Rowland Mr Anthony Woollard Mrs T¢r¢sa Kristun until May 2021 from May 2021 Elected Members Mr Samiiel Bridg¢$ Mr JOI￿ Cohen Mr Richard Flctch¢r Mr Samuel Jupe frs Teresa Kristhnas from May 2021 until May 2021 from May 2021 until May 2021 PAROCHIAL CHURCH COUIYCIL OF HOLY TRtNITY STRATFORD-UPON-AVON WITH ALL SAIIYTS, LUDDINGTON AND ST HELENS CLIFFORD CHAMBERS ANNUAL REPORT 21121 Dr Lindsay MacDonald Mrs Ruth Poulten Mr George Reah Mrs Liz Room¢ Ms Gill Pri¢¢ Mr Mark Sayers Mr Mik¢ Warrillow until May 2021 from May 2021 from May 2021 from May 2021 Co-OPt¢d M¢mb¢rs Mrs Jane Beeley Mrs Pat Woolvin By invitation as non-voting observers Mr Douglas Keilitz Mr Andrew Wtnter Mr Phil H2ry)¢r Director of Miisic Operations Manager Children & Families Minist¢r Res onsibilities of PCC m¢mb¢rs'. Charity Law requires the Members of the PCC lo prepare financial statem¢nts for cach financial year. which give a true and lair view of the dispositiott of the funds at the end of the finallcial year and of the financial transactions lor thc ycar. In prcparing thcsc financial statements, the m¢Tnbcrs arc rcquircd to.- select suitable accounting policies and then apply them con5iStcnily. mak¢ judgements and estimates that are reasonable and pnLdent. state whether applicable accounting standards have bcen followel subject to any tnaterial departure5 disclosed and explained in th¢ financial statements. prepare the financial staiemenis on the basis tbat the Charity will continue in operation unl¢s8 it is inappropriate to pr¢sume this. The Tncmb¢TS are responsible for k¢¢ping pn)p¢r a¢¢ouuung re¢ords to enabl¢ them to ensure that the financial statetnents comply with th¢ Statement ot Recommended Pra¢tic¢ and the Charitl¢5 Act. They are also responsible for safcguarding th¢ assets of the Charity and h¢nc¢ for taking steps for the prevention and detection of fraud and other irregularitics. The members have referred to th¢ guidanc¢ Contained in the Ctwiry Commi$sion'$ gencral widaThce on public benefit when reviewing the cbarity's aims and objeclives and in planning future activities. In parti¢ular, they have considered how planned activities will contribute to the aims and objectives set. Approved by the PCC on 15 Mareh 2022 And signed on their behalf f(S. (+, The Reverend Patnck Taylor (PCC Chair) David Hoose (May 13, 2022 15:43 GMT+1) May 13, 2022 PAROCHIAL CHURCH COUNCIL OF HOL Y TRINITY STtL4TF0R￿UPoN-Ay0N WITH ALL SAINTS, LUDDIIYGTON Af4D ST HELEN'S CLIFFORD CHAMBERS STATELIILIYT OF FINANCL4L ACTIVITIES {Intorporating the Income and Expendlturt Accoullt) For the ye&r ¢nd¢d 31 Dt¢¢mb¢r 21121 Unrestricted Restricted funds funds Total funds 2021 2020 Notes INCOM Income from donations and legacies Income from ancillary tradiog Othef in¢oming resources from inve5ttnents 2b 2¢ 199,569 88,819 23.879 1,642 146,095 345.664 88,819 26,328 13 J09 224,580 67,701 37.836 13,591 2.449 11,667 2d TOTAL 313,909 160,211 474,120 343,708 EXPENDITURE Raising Funds 59,884 29,011 88,895 117,219 ChAritablt 4¢rfTrltl¢s Grallts Activities related to work of eburch Central administration 3b 2.321 143.528 55 2J21 333,749 48J211 4,679 277.591 51,207 190,221 48,265 3d TOTAL 298J70 174,915 473,285 450,696 SURPLUS I (DEFICIT) BEFORE IIYVESTMENT GAINS I LOSSES 15J39 {14.71M) 835 1106,988} Investment gains 7,130 2,776 9906 4,456 NET INCOMING I {OUTGOING) RESOURCES 22,669 {11,928) 10.741 (102,532) Transler bettveen li)nds 10 {36) 36 ryET MOVEMENT FUNDS 22,633 (11,892) 10,741 (102,532) Balance brought forward l January 2021 192,215 102.473 294,688 397,220 BALAYCE CARRIED FORWARD 31 December 2021 214.848 90,581 305,429 294,688 The notes on pages IJ to 31 fomi part of these financial statements. The location of the SOFA for the prior period being in note 2a. PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFORD-UPON-AVON WITH ALL SA1Tr4TS' LUDDINGTON AND ST HELETr4'b CLIFFORD CHAMBERS BALANCE SHEET as at 31 De¢¢mber 2021 Note5 2021 2020 FIXED ASSETS Tangible gssets Holy Trinity Investsnent ￿et5 Holy Trinity All Saints ST Helens 5b 21,708 56.9n 468 18.991 49,841 410 79,148 69,242 79,148 69,242 CURRED4T A&8ETS Stock Debtors 29,242 28,157 32.902 12,694 Sbort ierni deposiis Holy Trinity AJI Sainls St H¢lens 109,747 33,100 22,081 109,697 33,168 13.073 164,928 155,938 C&%h at baowin hand Holy Trinity All Saints St H¢leD$ 31.126 IOA77 7,179 26,108 7,460 12538 48,782 46,106 271,JlO 202,rM4 CREDITORS.. AMOUYTS FALLING DUE WITHIIY ONE YEAR 142,6J6} 122.1941 NET CURRENT ASSETS 228,473 225.446 CREDITORS.. ALMOUYTS FALLING DUE AFTER ONE YEAR 8b 12,192} NET ASSETS 305,429 294.688 10 U]Irestrict¢d Floly Trinity All S￿￿t8 St Helens 125,430 77,437 11,981 68,194 10,346 214848 192,215 Restrici¢d Holy Triniry All Sathnts ST H¢l¢ns 49,227 23277 18J177 62,959 22,846 16.668 90.S81 102.473 TOTAL FUNDS 305,429 294,688 Approvtd and authorised for by the PCC on 15 Mxrth 2 2a their btbalf by: P*trlek Taylor 'icarl The nol¢s on pages 13 10 31 formpart of these fjnancial bla*mcnts. Mike W*r oivl easurttrl PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFORD-UPON-AVON WITH ALL SAIIYTS, LUDDJNGTON AIND ST HELEN'S CLIFFORD CHAIMBERS NOTES TO THE FINAI%CIAL STATEMENTS For the year ended 31 December 2021 STATEMENT OF CASH FLOWS 2021 20211 Net cash proilded by l {u5ed Inl operating a¢tlville¥ Ise¢ note 9) (5J031 1111,662) Cx$h flows from Investing activities.. Dividends, Int¢r¢st Bnd rents Decre￿ l {Jtt¢reas¢l In stock iJJ09 3,660 13,591 719 Net ¢gJh (used inyprovidcd by iDvestlllg gctiwitits 16,969 14JlO C*$b fltswj from fin*D¢lllg actlvitles.. Bo￿OWIng Net Cash provided by tlthathtlttg *ttlvltlt& CTrtin2e ID tash In the reportlng perlod Cgsh Atb¢gituJing of reporting period 11,666 202.044 (97J52} 299,396 Casb it end of reportlng perlod 213,710 202,044 12 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFORD-UPON-AVON WITH ALL SAINTS. LUDDIIYGTON Af*D ST HELEN'S CLIFFORD CHAMBERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 D¢¢¢mber 2021 ACCOUNTING POLlCtES The financial stat¢m¢nts have be¢n prepared in accordance with th¢ Church Accounting Regulation5 1997 as amended by the Church Aceolltjting (AmeDdment) Rcgulations 2(M>6 to¥¢ther with applicable UK Accoullting Standards, includitjg the Financial Reporting Standard 102 {FRS 102). and th¢ Statement of Recomrnend¢d Pra¢li¢e (kiob¢r 2019 ITrRS 102}. The financial ststements have been prepaTed under the historical cost conveTLtion except for the valuation of investment assets. which are shown at market valuc. The financial stat¢m¢nts ar¢ prepared in sterling wbich is the filnctional currency of the ¢h2tity. Th¢ PCC Cortstitutes a public benefjt entity as defmed by FRS 102. Me]nber5 of the PCC consider that th¢r¢ ar¢ tto matcrial uncertainties about th¢ PCC'S #bility lo contsnu¢ as a guing COTLGern. Fullds General funds represent the funds of the PCC that are not $ubje¢t to any restiictions regarding th¢ir use and are available for application on the general pu￿05e8 of the PCC. Funds designated for a particular purpose by the PCC are a]so unrestricted. The accounts include all transactions. assets and liabilities for which the PCC is responsible in law. Th¢y do not include the acco1￿lS of church groups that owe their atTJliation to another body or those that are itrfornai gathering$ of ¢hw¢h metDbers. Ineomt Donations inctrme and ctspifal sozijces Collection5 are re¢ogni8ed when received by or on behalt of the PCC. Planned giving receivable under Gift Aid is recognised otjly when received. Income tax recovernble on Gift Aid donations is r¢cognised when the in¢ome is r￿￿¥￿I5td. Grants and legacies to the PCC are a¢¢ountcd for as soon as the PCC 15 notified of its Icgal entitlement, the amount due 15 quantifiable and its ultimate r¢¢eipt by the PCC is probable. kunds raised by fundraising ¢v¢nts. and sales from the church shop. ar¢ accounted for 8ross. O¢her income Rental income from the letting of ¢hur¢h premises is recognised when the rental is due. JncomEJiom investmenls Dividends are ac¢owil¢d for when duc and payable. Int¢rest ¢n¢itlements are accounted for as they accrn¢. Atty recoverable oll such income would be recognised in the Same accountin¥ year. G&zn.f aFdlo.fSeS on inve51mcnts Realised gains or losses are rccognised when investments are sold. Unrealised gains or losses are accounted for on the revaliiation (pt. investments on 31 Decemb¢T. ExpeThditure LiJbilit1¢5 are recognised as resources expend¢d as 500n a5 there is a legal or ¥VTL5tructive obligation ¢OTllmilting the PCC io the expendilure. All expcnditure is accounted for an aLcrua]s basis and hab been classified under headings ihat aggregate all costs rctated to the cal¢gory. 13 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRA TFORlkUPON-AVON WITH ALL SAINTS, LuDDI￿CToN AIYD ST HELEN'S CLIFFORD CHAMBERS NOTES TO THE FINANCIAL STATEMEP4TS For the year ended JI December 21121 Gi'ants Grants and donations are accounted for when paid over. or wben awarded. if that award ¢r¢al¢s a constructivc obligation on the PCC. AtL1vili￿ direcily rel&Éing to ÉhÉ wurk ofthe Chtsvch The dits¢esan parish share is accourtted for whert payabl¢. Any parish share unpaid at 31 Decembcr is provid￿ for in thes¢ acroutlts a5 an operational {though not a legal) liability and 15 shown as a creditor in the BalaTLGe Sh¢¢t. Fixed A55ets CE)iisecJ'iJfedpivperty a￿d movijble chts1chfyi*￿kI￿gS Conse¢rat¢d and beneficed property of any kind 1$ exclud¢d from Èhe accounts by s.10 of the Charities Att2011. Movable chur¢h fumishings held by the Vicar and Churihwardens otl special tTU5t for the PCC. and which TequiTe a faculty for disposal. are accounted as irtalienable property un1¢55 consecrated. For inalienable property acquired prior to 2000 there is iDSUtTicient cost inforniation availabl¢ and therefore sucb assets are not valiied in th¢ accounts. It¢Tns acquired since l January 2000 have been ¢apilaliscd and depr¢ciated in the accounts over th¢Èr cumtly anticipated useful ¢¢onomi¢ life on a 5traight-line basis. All exp¢ndifttye ort consecrd*d or benefi¢ed buildithgs. iijdividual items under £3.000 or on the repair of ovable church fi￿nIshingS acquired before l January 20(M) is writt¢n off. Cluxv howes The clcrgy house at 3 Coopcr5 C105C 15 the propcrty of the St James's Trust of which the PCC are managing trllstees. It is referred to in the attached Notes (Note 10) but is not valued as a PCC asset. The clcrgy house at 2 St John's Close, being the property of the PCC, 15 valucd at purchase price less depreciation on a siraight-line basis over 10 years. As an operational pn)perty it has noi been revalu¢d and its book value is accordingly llow z¢ro. OtherfL¥lures.fillings and Offl￿e equipmenl Equiptnent used within the ¢hwrh PT¢m15e$ i.% In gen¢Tal depr¢tialed on a $traight-line ba515 over 10 years. Individual items of equipment with a purchase price of £3.000 or 1¢55 are written off when the assel is acquired. Inv¢stm¢nts i]r¢ valu¢d ai market value at 31 De¢emb¢r. Curr¢nt &ss¢ts Amounts owirtg to th¢ PCC at .31 De¢ember in r¢sp¢ct of fees, r¢nt$ or other illCOEne are shown as debtor5 less provisiort for amounls that may piove un¢olle¢iable. Short-t¢mi dewsits in¢lud¢ ¢ash held tsn deposit either with the CBF Ch￿￿h of ETLgland Funds or at the bank. Stock is valued at tbe lower of cost and net realisable value. Operating lease$ Rentals payable under operating leases are Charg￿ on a straight-line basis over the tenn of the lease. 14 PAROCHIAL CHURCH COUL¥CIL OF HOLY TRINITY STRATFORD-upor4-AVON WITH ALL SAINTS. LUDDINCTON AND ST HELEN'S CLIFFORD CHAMBERS r4oTES TO THE FINANCLiL STATEMENrs For the year eDded 31 D¢¢¢mber 2021 Pension SChe￿e The PCC participate5 111 the Pension Biiilder Scheme .%ection of CWPF foi lay stdty. CWPF is admillistered by the Church of England Pensions Board, which hold5 the CWPF assets scparately from iho$e of thc Employer and other participatin8 ernployers. CWPF kn two sections.. th¢ Defined Benefits Sthcme the Pension Builder Scheme, which has two subse¢tion$; a deferred allnuity section knowD as Pension Buildtr Classic. and, a cash balance section known as Pension Buildei 2014. Pension Builder Scheme Both section5 of the P¢n$ion Builder ScheTne ajr ¢l&ssed as defined b¢Detit schemes. Pensi￿￿ Builder Classic provides 2 pension, ac¢umiilated from contributions paid 2nd converted into a deferred annuity durin8 employmeni based on terrns set and reviewed by the Church of Englaftd Pensions Board fro time to time. Discretionary itlcreases may also be added, dqjending on investsnent returns and oiher fa¢ior$. PeJuioK Build8F' 2014 is a cash balance bbh¢me that provides a lump sum which rnembers use to provide bertefjts at retirenjent. P¢nsion contribut10115 are recorded in an account for each mcinbcr. Di5CTetionary bonuses may be added before retirement. depending on investmcnt returns and 01b￿ fa¢tors. The account. plus any bonuses declared 15 payable, unrcduced, from age 65. Those ernployees of the PCC who are ¢1￿ible for 5UPPtstt towards pensions are memb¢rs of the thi5 scberne. There 15 no $ub41ivision of assets b¢tween employers ITh each se¢tion ol'the Pension Builder Scheme. The 5chcme is ¢onsidercd lo be a tnulti*mployer scheme as des¢rib¢d in Section 28 of FRS 102. This is be¢allse it is not possible to attribute the P¢E]sitsn Builder Scheme'5 ass¢ts and liabilities to specific cmployers and means that contTibutions are accountcd for as if th¢ Scheme were a defined contribution sch¢tne. The pensions costs chaTg¢d to lh¢ SOFA in thc year are th¢ cotttribulions payabl¢ {2021.. £4,172, 2020.. £5.294}. A valuation of the Pension Builder Scherne is carried out on¢¢ every three yeaTS. The most re¢ent valuation was Ca￿led out ￿ at 31 D¢eember 2019. The Dext Valuation i5 due as at 31 Decclnber 2022. For the Pension Builder Classic Section. the valuation reveal￿ a deficit of £4.8m on the ongoiE]g assumptions s¢d. At tbe m05t ie¢enl at)nual review. the Btsard chose lo grant a dis¢retionary bonus of 30/0 followng in]provements in the funding po$itson over 2021. There is no requiremeTLt for d¢ticit payments at th¢ current time. For the P¢n$ion Builder 2014 5e¢tion, the valuation revealed a 9urplus of £5.5tn otl the ongoing assumptions used. There is no requirement foi d¢fi¢it payments at the curTen¢ tirne. The legal stru¢iur¢ of the scheme is such that if another employer fails, the PCC could becotne responsible ftsr paying a share of the failed employer'5 pension liabilities. Flnan¢lal IDStrumeDts The Charity only has fmancial asscts and fsnancial ligbilities of a kind that qualify as basic fJn8n¢ial insinlmellts. Basic fmallcial instrum¢nt5 are initially recogni5¢d at transaction value and sub5¢qU¢ntly measured at their settlement value. Judgements Estimation5 The tNste¢s hav¢ Dot madc ally signifitani judgcments in the PTOC¢SS of applying the accounting poli¢i¢$ and there are no areas of estimation uncertaiThty that hav¢ a significant risk of Causing a mat¢rial adjustment to the carrying amounts of assets and liabilitie5. 15 ## **PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFORD-UPON-A VON WITH ALL SAINTS' LUDDINGTON AND ST HELEN'S CLIFFORD CHAMBERS** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021** |**2a**
**STATEMENT OF FINANCIAL ACTIVITIES**|**STATEMENT OF FINANCIAL ACTIVITIES**|**STATEMENT OF FINANCIAL ACTIVITIES**|**STATEMENT OF FINANCIAL ACTIVITIES**||||| |---|---|---|---|---|---|---|---| |||**Unrestricted**|**Restricted**||**Unrestricted**|**Restricted**|| ||**Notes**|**Notes**
**funds**|**funds**|**2021**|**funds**|**funds**|**2020**| |||**£**|**£**|**£**|**£**|£|£| |**INCOME**|||||||| |Income from donations and legacies
Income from ancillary trading
Other income (CJRS/PAYE refund)
Income from investments|2b
2c
2d|199,569
88,819
23,879
1,642|146,095
2,449
11,667|**345,664**
**88,819**
**26,328**
**13,309**|180,826
67,701
35,323
3,478|43,754
2,513
10,113|224,580
67,701
37,836
13,591| |**TOTAL**||**313,909**|**160,211**|**474,120**|287,328|56,380|343,708| |**EXPENDITURE**|||||||| |Raising Funds|3a|59,884|29,011|**88,895**|116,488|731|117,219| |**Charitable activities**|||||||| |Grants|3b||2,321|**2,321**|434|4,245|4,679| |Activities related to work of church|3c|190,221|143,528|**333,749**|248,988|26,603|277,591| |Central administration|3d|48,265|55|**48,320**|50,382|825|51,207| |**TOTAL**||**298,370**|**174,915**|**473,285**|416,292|34,404|450,696| |**SUBTOTAL**||**15,539**|**(14,704)**|**835**|(128,694)|21,976|(106,988)| |Investment gains/(losses)||**7,130**|**2,776**|**9,906**|3,207|1,249|4,456| |**NET INCOMING/(OUTGOING)**||**22,669**|**(11,928)**|**10,741**|(125,757)|23,225|(102,532)| |**RESOURCES**|||||||| |Transfer between funds||**(36)**|**36**||10,964|(10,964)|| |**NET MOVEMENT IN FUNDS**||**22,633**|**(11,892)**|**10,741**|(114,793)|12,261|(102,532)| |||**192,215**|**102,473**|**294,688**|307,008|90,212|397,220| |Balance brought forward 1 January|||||||| |2020/ 1 January 2021||**214,848**|**90,581**|**305,429**|192,215|102,473|294,688| 16 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFORD-UPON-AVON WITH ALL SAINTS. LUDDtNGTON A￿D ST HELEN'S CLIFbORD CHAMBERS r4oTES TO THE FINANCLIL STATE[￿ENTs For the year ended 31 December 2021 2b INCOME FROM DONATIONS AND LEGACIES Unre$trl¢ted futlds Restricted funds Total funds 2Q21 2020 Planned giving Itlcome tax recovered Collections Grattts Donations, appeals ¢t¢. Legaci¢s Fundraising events Sunthy incom¢ 131,576 34,091 7.134 1,235 16,7411 2511 160 8J83 131.576 35.729 9,078 3,299 153,646 250 3J29 8,757 121,922 34.946 5,085 13,903 41,536 1,820 2,730 2,638 1,638 1,944 2,064 136.906 3,169 374 199,569 146.095 345,664 224,580 INCOME FROM ANCILLARY TIL4DING Unre5triete Fund$ Re$tri¢ttd funds Total fund5 202] 2020 Magazine Shop and chancel Church hall letting Fee5 1,257 51,375 15,982 20,205 1,257 51,375 15,982 20.205 2,153 51,659 5,889 8,000 8&819 88,819 67,701 2d INCOME FROM INVESTMEh'TS Unre5trieted Funds Restrlcted fuDds Total funds 2021 2020 DividetLds and interest Rent$ 1,642 2.666 9,001 4.308 9.IH)I 5,648 10,199 1,642 11,667 13J09 15.847 17 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY STRATFORIkUPON-AVON WITH ALL SAINTS, LUDDIf4GTON AND ST HELEN'S CLIFFORD CHAMBERS NOTES TO THE FLYANCIAL STATEMENTS For the year ended 31 December 2021 31 EXPENDITURE ON RAISING FUNDS Unre$trlcted funds Rtstrlcted furtds Total fund5 21121 2020 Magazine cost5 Chur¢h hall Nnning costs Renial Property Costs Shop and chanLel ¢tssts Fundraising Costs 420 18,934 420 18.934 28.546 40.530 465 911 19,781 2,256 95,796 731 28,546 411,530 465 59,884 29,011 88,895 119,475 3b GIL4NTS Unrtstricted funds Restrieted fund Total funds 2021 2020 Missionary and charitabl¢ giving (see noie 12) Other (See note 13) 2.321 2J21 4.679 2,321 2J21 4,679 ACTIVITIES RELATED TO WORK OF CHURCH Unre$tritted fund$ Restri¢t¢d funds Total funds Z021 2020 Ministy.. Parish share MtJJisty'. clcrgy expenses Mini$ty.' clergy housing Mini$ty.' Lay Minister Church running costs Church m8lntenan¢¢ Mission and outreach Childrcn and young peopl¢ Choir and organist Major items (sce note I l) Depreciatio 99,715 977 371 24.132 32.970 8331 545 99,715 1,977 371 28,383 35,225 10,630 713 113.424 1,542 362 27,825 43,3911 13.055 1,408 108 20,728 55.741 1,000 4251 2,255 2,099 17.212 5.768 4.387 129.368 21,599 135,136 190.221 143J28 333,749 277,591 PAROCHIAL CHURCH COUIYCIL OF HOL Y TRIIYITY STRATFORD-UPON-AVON wrfH ALL SAINTS, LUDDIl¥iGTON AND ST HELEIY'S CLIFFORD CHAMBERS NOTES TO THE FINANCLIL STATEMENTS For the year eDded 31 De¢ember 2021 3d CENfiL4L ADMINISTRATION Unrestritted fund5 Restricted funds Tothl fund5 2020 2021 Printing and statioThery Telephones Salaries. training and sundries Ind¢p¢ndcnt exomination tee 2,758 21 41.4116 4,080 2,758 21 41,461 4,1180 2.145 1.674 43.428 3,960 55 48,265 55 48,3211 51,207 Governanee costs of the charity, strictly def￿ed, are negligtble, as Yirtllally all governan¢e is carried out by elergy (who are noi PCC eMploy￿s} or volunt¢¢r lay p¢opl¢. A very small proportion of costs such as siation¢ry and telephones Could be attribuied io the governan¢e fvn¢tion. but Lt is not practicable to id¢nlify thes¢ within th¢ g¢n¢ral ¢osts of ¢eniral administration. Thos¢ ¢osts. as set out above. also include a proportion of salaries of certain staff. Other salaries are included withill "Cost of raising nd5" since thcy relat¢ ￿￿1￿[Y to managing the church as a visitor attraction. Where and some oiher support cosls are splii between Eunetions, this is on an estimdted-ttmc basis. 'Support costs" are difficult to qualltify separatcly sinee all staff have a public-fa¢ing fun¢tion and are thus part of the church's ministry as well as providing support to that mittisty. 3e INDEPEf4DErfr EXAMINATION FEF The PCC currently falls b¢low the 51atutOry inc0￿e threshold for full audit. and the accounts wer¢ therefore sitllply independently examined by David Hoose of Mazars LLP who hav¢ conducted independent examinations for scvcral years. A provision of £4.080 including VAT was made for tbis in thc accounts lincludcd in note 3d above). 19 PAROCHIAL CHURCH COUNCtL OF HOLY TRINITY STRATFORD-UPON-AVON WITH ALL SAINT&*' LUDDINGTON AIYD ST HELEN'S CLIFFORD CEIAMBERS NOTES TO THE FLYALYCIAL STATEMENTS For the yegr ended 31 December 2021 STAFF COSTS 2020 2020 Salaries Employers National Insurance Employers Pension contributions Redundancy payments 90,654 2,938 4.172 128,267 3,554 5.294 4.781 97,764 141,896 Part- and full-time employees {ful￿tiMe equiv9knt average) Representing an averagc of about I l employee512020.. 111 over the year The closure of the church buildings due to Covid restrictions has rcquired a radical approach to staffing lev¢ls. The Children and Families Minister, the Operdtions Manager, the Director of Music, the Assistant Dire¢tor of Music and a single memb¢r of offic¢ staff have all b¢et) furloughed (either ￿11 time or flexible) during the ycaT. All other church staff and office staff were made redundant during 2020. The Church is now operating as far as PO55ibl¢ on a volunteer ba515. and we are grateful to th¢m all for their ¢onJmitm¢llL Key per50nnel.. Of the employed staff. two report dircctly to the Vicar and onc to the Associate Vicar. Thes¢ may be regarded as key personnel. Their remuneration on an anThuali5ed basi5. including ¢mploy¢r pensio contributions, totalled approximately £71,000. No PCC member$ {TTUStee$l or related parties received remutJ¢ration irt r¢spe¢t oftheir services a5 mernb¢rs of the PCC. No mat¢rial Claims have been made foT OUt-of-po¢ket expertses by such members. Whilst they, and other mcmber5 Lif thc church inLluding retired clcrgy. may incuT buch expenses from titne to time, any claims made are extremely rare and non-material., and, since such costs would relate purely to local travel etc, they would be in5i8nificant. and accordLfi8ly no value is here placed on expense5 waived. Penslon$: The PCC operates a defined conttibuiion pension policy under which all employees below pellsionable age may benefit frotn a contribution of 5.5 /D of salary. The PCC ha5 Since l July 2016 been Subject to the provisions of auto-enroltnenL which directly affects personnel earning over about £IO.000 per ar￿ll￿, within a scheme administercd by the Church of England Pcnsions Board. 20 PAROCHIAL CHURCH COUPICIL OF HOLY TIUNITY ST114TFORD-UPON-AVON WITH ALL SAINTS. LUDDlfiGTON AND ST HELETrI'S CLIFFORD CHAMBERS NOTES TO THE FINANCIAL STATELIIEKrs For tbe ye¥4r ended 31 December 2021 TANGIBLE ASSETS Holy Trinity Land & Bylldlng Equlpment All Salnts St Helens Total Cost At l January 2021 Additions 137.500 24,479 161.979 At 31 De¢emb¢r 2021 137.500 24,479 161,979 DepreciatioD At l January 2021 Charg¢ for th¢ year 137,500 24,479 161,979 At 31 De¢ellLber 2021 137.500 24.479 161,979 Net book walu¢ At 31 December 2020 At 31 December 2021 5b INVESTMENT ASSETS: MOVEMENT IN THE YEAR Ul.01.21 Di5P05%L15 et gain5 31.12.21 HOLY TRINITY 971 shares CBF tnv Fund {Rest'd) 18,991 2,717 21,708 ALL SAINTS 2,432 shares CBF Inv Fund 49,842 7,130 56.972 ST HELENS 20 shar¢s CBF Inv Fund 409 59 468 21 PAROCHIAL CHURCH COUNCIL OF HOLY TRif*lTY STIL4TFORD-UPOLY-AVOIY WITH ALL S￿lYT5. LVDDINGTON Af*D ST HELEN'S CLIFFORD CHAMBERS NOTES TO THE FINANCL4L STATEMENTS For the yeAr ended 31 December 2021 ANALYSIS OF NET ASSETS BYTYPE OF FUND Total Funds Unre$trScted Funds Restrlcted unds 11121 2020 Fix¢d 2ssets InVest￿t￿ts Curr¢nt ass¢ts Current liabilitses 56.972 202,704 (44,828} 22,176 68,405 79,148 271,109 (44,828) 68,242 247,639 122.193) 214.828 90.581 305,429 294.688 DEBTORS 2021 2020 Prepayments Other 14J75 13.782 12,694 Total 29,137 12.694 81. CRIDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Creditors for goods and serviceb 42,636 22,193 42,636 22.193 Bb. CREDrroRS: AMOUNTS FALLD4C DUE AFTER ONE YEAR 2021 2020 Due within 1-2 years Duc within 2-5 ycars Due it) gr¢dt¢r thatt 5 y¢ars 548 Total 2,192 Creditors falling due after one year relate to an unsecured inlerebt-free loan for a kitchen for St JohJL% Close la property owned by the PCC) that is fully repayable by April 2024. 22 PAROCHIAL CHURCH COUNCIL OF HOLY TRtNITY sTRATFOR￿uPO￿-Av0N WITH ALL SAINTS, LUDDINGTON AND ST HELEN'S CLIFFORD CHAMBERS NOTES TO THE FINANCIAL STATEMENTS For the year tndtd 31 December 2021 9. RECONCILIATION OF TrIET MOVEMENTS IN FUTriDS TO NET CASH FLOW FROM OPERATtNG ACTIVITIES 2021 2020 Net moveEnent in fi￿dS Dw￿riation {Gains1 l Lo55es on ￿yes￿￿eDIS Dividends. ￿￿teSt and ten15 (ltscreastvdeciease itt debtors In¢Teasel{de¢reasel in crtditors 10,741 1102.5321 19.9061 113.3091 115.4631 22.634 14,4561 113,5911 252( 116,287} N¢t cash provlded by Ilused iry) optr¥tlng actlsltles {5,303) 111.662 23 PAROCHIAL CHURCH COUNCIL OF HOLY TKINITY STRATFORIkUPON-AVON WITH ALL SAINTS, LUDDJNGTON AND ST HELEIY'S CLIFFORD CHAMBERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 10. FUND DETAILS (Continued) UNre5tricted funds- Holy Trinity The Parochial Fund is Holy Trittity'$ g¢n¢ral tund devoted to the mission and ministry of the parish. Ets principal sources of inc4)me are cotJgregatIonal giving. other donations and parochial fee5. and most of its expendilure is on the cost of the Ministry staff {largely via th¢ Dio¢￿¢ through Parish Share) and church musiL aDd worship. The Restoration Fund is devoted to the upkeep, maint¢nanre restoration of the church building and the ministry to visitors. It earns tncoTllV prim￿llY frotn visitor dOnation￿ContributiOns aTLd shop sales, and that income is spent mainly on day-to-day costs - the bulk of which ¢ost5 relate to keeping the church open daily for visitors dre thciefoie attributed to this Fund rather than to the Parochial Fund. Th¢ R¢slordtiott Fund would nomially contribute to that part of Parish Shar¥ which is related to th¢ PCC'S urtrestricted income. With the lack of visitors in 2021, this did not happen. Any surplus is retained towards fvture restorationlimprovement. The Legacies Fund benefits from the pro¢¢eds of unr£stricted l¢gacies. which the PCC spends as occasion arises on iiems of a ¢apital natt￿¢. The Parish Hall Fund re¢eLves Lnrome Irom lettings and a]so llotional rents from other parts of the budget. all of which is spent on the adtnini5trdtion and upkeep of the PaTj.8h Centr¢. Its historic deficit teflects the difficulty of keeping pace with repair ne¢d$ on a building of this nabjre. The Community Fund represents funds dt$bursed to individuals anwor local charities for the relief of need. Its principal source of ittcome has be¢n a tcnth of net Shop proceeds bllt ￿ the Shop has been c105cd for th¢ majority of th¢ year, there is no income recorded this year. UDrestrieted funds- All SaiDts The GefrteiYtlFund is self-explanatory. UnrestrAeted funds- St Htltn'8 The General Fund is self-explanalory. Restricted fund5- HOIY Trinity The Parochial Fund frequently receives donations, (he proceeds of special collections ¢ic, which are 5tricted io specifJ¢ caus¢s. So far a5 POS5ibl¢ these are paid over within the y¢aT when received. but this is not always possible and the Fund has thcrcfore accumuLated a modest balance. Th¢ a¢¢wnulated from th£ St James. Trust is also retain¢d in a separate Fut￿. Current investment income and inlere5t from thc Trnst, together with the rerttal fruTn one house, is d¢voied PTiTNaTily to thc maintenance of clergy houses tn &cevTdao¢¢ with the Trnst'5 objectives. The Trinity Voices filnd repr&s¢nL8 costs t¢} provide for a junior choii. The Mary Pickin Fund represents a legacy itttend¢d spe¢ificttlly for the purchaselrepair of ¢hoir robes. The Remembranee Book Fund deals with dottaiion5 for entrie5 in the church's B¢)ok of Remembrance, and the cost of maintairtin¥ that book. Restricted fund$- All SAlnts The Village Fabric Fwid was sei up to receive donations fro￿ residents of Lllddington village and their friends who might not be churchgoeTS but wished to see the fabric maintained. Initially il received a numbet of such donations in memory of the late Canon Raymond Cyst¢r. It has continued to r¢¢¢iv¢ donations and benefit frorn fimdraising cvehis in the village. The Books for Childr¢n Fund and lh¢ Sunday Club Fund are 5elf-explanatory. Curretltly only the fomier reeeives a very small income fTom interest and illcuf5 modest eXpendI￿re. A small Flower Fund was established in teSPVll5e lo a r¢5tticted legacy in 2010. Finally, the churLh regularly holds coll¢cttons and fvndraisin¥ events for th¢ Children's Society. 26 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY sTRATFOR￿uPOrI-AVOI1 WITH ALL SAINTS. LUDDINGTON AND ST HELEf4'S CLIFFORD CHAMBERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 Restricted fuJLds- St Helen's The Fob17c Fuiid is self-explatlatory. li MAJOR ITEMS OF EXPENDITURE Holy Trinity 2021 2020 Glazed Scre¢rt in North TraTLsept Painting Restoration King JaThe5 Bible and Case North Transept Stonework LED Spotlights on Spire Bier House T¢mporary Roof Upgrade Chw¢h Camera$ Misc items chi￿ch Floor 3,552 500 4J36 1110.067 3,849 5,739 3,245 462 483 8.849 22,653 1,244 2,786 5.057 1.458 52.530 AV In¥lallation (Church) A V Tnblallation (PaTi5h centre) Nvtth Purch Roof Electrical repairs Ringing Chamber Ca￿¢t 121,750 Al] S*lnts St Helen's Auto Windcr for Clock Rope for bells 7,448 3,211 3,211 7,448 27 PAROCHIAL CHURCH COUNCIL OF HOLY TRtLYITY STRATFORD-UPON-AVOIY WITH ALL SAINTS, LUDDI)TGTON AND ST HELEN'S CLIFFORD CHAMBERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021 12 MISSION GIVING AND GRANT-MAKING POLICY 2021 2020 Christian Aid Christians Against Poverty Church Mission Society Life Span Kap$ab¢t Children's Society Book5 for ChildTen Grants to illdividuals {HoJy Trinity ID the Community) Toilet Twinning 632 872 1.000 872 1,000 503 502 316 80 217 1,086 4,759 2J21 In addition to the above, congregation members, and schools using lh¢ ¢hurch for their own services. made donations to many of the above cwses whictl did not pa55 through the PCC accounts. The policy of the PCC regardin8 grants is as follows.. l. The Ii)tality of LwlleLtions IA H()ly Trinity on Christmas Eve and Christmas Day each year. together with re¢ldimabl¢ Gift Aid artd asso¢iat¢d in¢ome, is giveo to selected Charities at home and ovcrse&8 whose obj¢rtiv¢s se£Tn to the PCC to be in line with its OWD objective5. Thi5 LS treated as restricted iTLcome and expenditure. 2. Any special collections for named charities. as agreed by the PCC or th¢ officers of the village chllrehes, are also p&ssed to those chariti¢s. This is Similarly treated it) general as ie5tricted income expendittire. 3. Frorn tim¢ to time the PCC may make additional grants out of its unrestricted incorne to callses which directly nvdtch its objectives. 13 OTHER GRANTS There were no other grants in 202112020.. Nil}. 14 RELATED PARTY TRINSACTIONS There are no related party transactior15 to rq>ort during 2021 (2020.. Nil}. 28 PAROCHIAL CHURCH COUNCIL OF HOLY TRINITY sTRATFOR￿uPO￿-AVoN WITH ALL SAtNTS' LUDDINGTON AND ST HELEN'S CLIFFORD CHAMBERS NOTES ON ASSOCIATED CHARtTIES (These Notes do Dot form part ofthe un8udit¢d &¢counts) For the year ended 31 December 2021 PARISH CHARITtES OF THE ECCLESIASTICAL PARISH OF STRATFORD-UPON- AVON (Registered charity.yo 216512) These Charities are administered tFy the Vicar and Churchwardens. Th¢y ¢vtnprisE.' Thc R S G¢ng¢ Bequest for th¢ benefit of the ¢hori$t¢rs. This is invested in 433 shares in the Charities OffL¢ial Investtnenl Fund with a value of £8.905 as at 31 Decembcr2021. The Franci5 Thoma5 Charity for maintenance of a memorial. This is inve$t¢d in 42 shares in the Charities Offjcial Investment Fund with a value of £864 as at 3 IDecember 2021. Th¢ Sunday Sehool Charity which is self-explanatory and holds no Inv¢St￿¢￿ts. There have becn no recent donations from this filnd. During 2021. thc Vicar and Chur¢hw3rd¢n5 agrccd to take the remaitjing cash balan¢¢ and use to support the work of the ChildieD and F8rnili¢s Minister and this fvnd has now been Closed. The Emily Evwjs Curates Fund, for clergy expense5. which is invested in 351 share$ in the Charitie5 OtTicial Inve5ttnent Fund with a value of £7.219 at 31 Decembcr 2021. During 2021. £1,0￿) of the ¢asb balall¢o w&s used to support ¢lergy ¢xp¢ns¢5. 29 4&4k v¥ PAROCHIAL CHURCH COUIYCIL OF HOLY TRINITY STRATFORD-UPON-AVON WITH ALL SA￿TS, LUDDINGTON AND ST HELEN'S CLIFFORD CHAMBERS NOTES ON ASSOCIATED CHARITIES (These Not￿ do not forni part of the UDY4udit¢d Accounts) For the ye4r ¢llded 31 Detemb¢r 21120 ST JAMES, TRUST This charity is held by the Dits¢e$an Trustees (registcred ¢harity no 249165} as custodian4 wilh ihe day-to-day manag¢ment in the hand5 of the PCC. It exists for the general bettefit of ministry in the parish. but otheT claus¢5 in th¢-frust Deed make clear that its objecL8 are.. To providc a clergy house io replace that which was fom¢ily provided for the ecclesiastical parish of St James, Stratford-upon-Avon (now defi￿cl as & Separate parish) To provide fl￿d5 for tbe maintenance of that house And only then for g¢neral purpos¢s of ministry. The hous¢ at 3 Coop¢rs Close, hds histurically been occupied by the Associate V2car, was purchased IT) 2008 at a gross cost ot. £396,551. Its cost has been llwkedly les5 than sale proceeds of th¢ torll2eT propety at 61 Maidenhead Road. the fvnds to provide income for its mainienanee and other putposes increased sigaificantly at that tirne. As at 3 1 December 2021 those fi￿dS comprised appioxirnately £200.000 itl CBF Investment and Deposit Funds. tn 2021. the Associate Vicar moved to Sl lohns Close la property owned by the PCCI and Coopers Close was made available for commercial rentsl. However. the house still Gontinues to be owned by St James. TNst. Th¢ iDcome produced by the interesi-bearing element in these fund5 IS shown in Note 10 to the main AcLounts. The PCC ha5 taken the vicw that that income should be applied PTimarily to the tnaintcnance of clergy housll)g generally in ihe parish and io th¢ rvsls a5sociat¢d with providing inistry office space. Th¢ total ¢xp¢nditure from both ¢urreni and a¢curnulated income is also shown in Note 10. THE FIiIENDS OF SHAKESPEARE'S CHURCH {Re¥i5tered Charity Iyo 1097403) This is an entirely sepatate charity, though thc PCC appoiDts some of the Trust¢e5 alld the Vicar acts as PresidenL It exists to raise tiinds to assist it) the resltsralion and improyerllent of Holy Trinity Churcb. In 2021 it provided grants to the PCC ot. some £123,0(10, prunarily by way of corltributions towards the cost of restoration of stonework in the North trattsept. general repairs and the conservation and display of the King James Bible. Copies of th¢ Friends, Report and Accounts can be obiained from thc Hon Tr¢asur¢r to ¢he Friends, via the PArish OtTice. and fillther infonnation is on the website THE FRIENDS OF ST HELEN'S CHURCH {Registered ChArity P40 1173391) This is an entircly separale charity and the Vicar and A&wciate Minist¢r arc on the Board of Trustees. It exists to raise funds to assist in th¢ restoration and improvcmcnt of St Helen's Church. Copies of the Friends, Repon and Accounts ¢an b¢ obtained from the Hon Treasurer to the Fri¢n(ts, via the Parish Offic¢, and fimher infonnation is on tbe wcb51t¢ ii'ii'ii. %h,'Ik. 31