THE PARISH OF SAINTS PETER & PAUL FAREHAM, HAMPSHIRE
Registered Charity No. 1128765
Parish Priest: Fr Roger Jackson SSC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE PAROCHIAL CHURCH COUNCIL OF ST PETER AND ST PAUL FAREHAM
INDEPENDENT EXAMINER'S REPORT
TO THE PAROCHIAL CHURCH COUNCIL OF ST PETER AND ST PAUL, FAREHAM
| report on the accounts of the Parochial Church Council for the year ended 31 December 2020 which are set out on pages 6 to 2020.
Respective responsibilities of the Parochial Church Council and examiner
The members of the Parochial Church Council are responsible for the preparation of the financial statements. You consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) or the Church Accounting Regulations 2006 (the Regulations) and that an independent examination is needed.
It is my responsibility to:
-
(i) examine the accounts under the Regulations and section 145 of the 2011 Act; (ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
(iii) to state whether particular matters have come to my attention.
My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145(5)(b) of the Act and to be found in Church of England guidance. That examination includes a review of the accounting records kept by the Parochial Church Council and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as 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 connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respects the requirements:
(i) to keep accounting records in accordance with section 130 of the 2011 Act: and
(ii) to prepare accounts which accord with the accounting records and to comply with
the accounting requirements of the 2011 Act and the Regulations
have not been met: or
(b) to which, in my opinion, attention should be drawn in ipo toenableaproper understanding
of the accounts to be reached. ff
Mrs Samantha Diment i if f : f
255A White Hart Lane, Portchester PO16 9AS C “a ;
Dated: 10 SEPTEMBER Aon
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1
THE PARISH CHURCH OF ST PETER AND ST PAUL, FAREHAM ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2020
Administration information
The Church of St Peter and St Paul is situated adjacent to the Civic Offices, Medical & Social Services and the main shopping precinct close to the heart of the Town Centre. It is part of the Diocese of Portsmouth within the Church of England. {t is a Forward in Faith parish and has been under the pastoral and sacramental care of the Bishop of Richborough. The correspondence address is Osborn Road, Fareham, Hampshire, PO16 7DR.
The Parochial Church Council (PCC) is a charity registered with the Charity Commissioners. Charity No. 128765
PCC members who have served from April 2019 are:-
| Incumbent: | Fr RogerJackson SSC |
|---|---|
| Churchwardens: | Mrs. M. Chappell |
| MrsC.Allen |
Representatives on the Deanery Synod:
| Mrs. M. Chappell | |||||
|---|---|---|---|---|---|
| Mrs. C. Allen | |||||
| Elected | Members: | Mrs E. Clements | Until | APCM 2021 | |
| Mrs. J. Swatton | “ | “ | |||
| Mrs A. Butcher (Secretary) | Until | APCM 2022 | |||
| Mr A. Swatton | . | “ | |||
| MrN.Millett | ” | io |
Mr. D. Hercock was co-opted and agreed to continue as Treasurer until further notice.
One third of the elected members of the PCC retire each year by rotation.
No member of the PCC is reimbursed for any expenses incurred for serving on the Council.
Nominations for membership are invited from the congregation prior to the APCM.
2
The following Committees meet on an ad hoc basis:
The Standing Committee — This is the only Committee required by church law and meets to transact the business of the PCC between meetings. It is subject to the direction of the PCC.
Finance Committee — Responsible for the financial planning, yearly budget and stewardship.
Missions and Charities Committee — meets to discuss charitable giving throughout the year.
None of the above Committees have convened for some time.
Bankers: Lloyds PLC
Independent Examiner: Mrs Samantha Diment
Structure, governance and management:
The method of appointment of PCC members is set out in the Church Representation Rules. All who attend the Church are encouraged to register on the Electoral Roll and stand for election to the PCC.
As Trustees, members of the PCC are aware of their responsibilities for directing the affairs of the charity and that it delivers its charitable objectives. This includes monitoring and managing the risks to which the PCC may be exposed. The PCC regularly considers those risks and any mitigation measures that are required. Work will continue particularly on the mitigation of the most significant risk which relates to falling church attendance and the medium-term finances.
Charity law requires the trustees to prepare financial statements for each financial year giving an accurate overview of the financial status and affairs of the charity at the end of the year and of the surplus or deficit for the year. The Charity Commissioners have granteda filing extension for the 2019 and 2020 accounts in light of the current pandemic.
Objectives and Activities:
St Peter and St Paul’s PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
The PCC has considered the Charity Commissioner's guidance on public benefit and the specific guidance for the advancement of religion. In particular the PCC aim to enable ordinary people to live out their faith as part of our parish community through: -
-
e Worship and Prayer
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e Pastoral care e Missionary and Outreach work
The accounts that follow the report cannot describe the significant voluntary contribution made by many people to the objectives and activities of the church.
3
Achievements:
Church attendance: Due to Covid 19 Restrictions our Covid safe number of 25 (as from March 2020) has been able to attend the Sunday 9.30 Mass. Weekly attendance during this recent ‘lockdown’ has ranged from a minimum of 6 (pre national vaccination programme) rising to over 30 in recent weeks as double-vaccine confidence takes hold.
The Electoral Roll was renewed in 2019 and 50 people were registered on the New Roll. The present number is 54.
This year (2020) has been challenging and difficult. The Covid 19 Pandemic with its consequent national ‘lock down’ means worship in church has been banned and then restricted. At the first ‘lockdown in the early part of the year all church buildings were closed by order of the national authorities. worship was restricted to being live streamed on social media from The Vicarage oratory.
The subsequent lockdown saw the church building open for worship but having to remain quarantined first for 72 hours (then 48 hours) between Services. Allowing worship in the parish church was only granted on the strict condition that the building and Act of Worship could be Covid safe namely adhering to the following conditions:
2metre social distancing (limited the number who can safely attend Mass to a maximum of 25 social bubbles); no singing or chanting in worship;
no congregational responses; mandatory wearing of face masks (covering mouth and nose); sanitising of hands upon entry/exit & before receiving communion (Communion offered in one kind only); restriction of mobility in the building; no social interaction in church with other household bubbles;
limit on time spent in church building; names and contact details taken and stored for NHS Track & Trace purposes;
make use of NHS Covid 19 app to register attendance. All rules and regulations were meticulously adhered to in this parish. We were fortunate to be able to attend 9.30 Sunday Masses and that these and week-day Masses have been live streamed throughout this year. Easter Services were confined to “on line” During August 2020 we were grateful to Bishop John Hind who covered Sunday services into September. Christmas Services were limited and no Carol Services were permitted. The weekly Look Out and Look Out Plus, has been circulated by Fr Roger, either by email or post.
Our toilet facilities have been closed, first under the Covid safe requirements then by our own inability to adequately clean and sanitise after each use in accordance with the national requirements. This lack of facility has impacted on some and severely hampered their ability to confidently attend Mass. For others, including PCC members, a lack of the technology or understanding of how to operate computer/tablet/smartphone has also limited access to worship and meetings (including last year’s APCM) available via on-line streaming (Zoom/social media platforms). Throughout the year a small group has continued to meet via Zoom for Bible Study.
Regarding the Quinquennial Inspection, it has been impossible to complete aspects mentioned in the Report due to Covid restrictions. Although requirements by our building Insurers to alarm (CCTV) the metal roofs have been completed.
The Covid 19 pandemic has also restricted our ability to raise funds for the church. We are very grateful to all who have made donations/gifts regularly throughout the ‘lockdown’
4
Similarly financial pressures have had an impact on Diocesan finances and have prompted a diocese wide re-structuring with a view to reducing stipendiary clergy posts. In October all deaneries across the diocese were asked to review or rewrite their Deanery Plan looking at how best to deploy a reduced number of stipendiary Priests and to unite parishes (with a governance structure that could be monitored) to work collaboratively with neighbours.
This controversial process, which is still ongoing, has consumed huge amounts of time via on-line meetings. It has also created tensions, division and much unnecessary anxiety. This process using the Diocesan strap line ‘Live Pray Serve’ prompted a questionnaire from the Churchwardens and Vicar to all on our church electoral role to involve all in our community of faith in the process. The only church in the Deanery to do so. The Churchwardens reported on the questionnaire responses and the process after Parish Mass and in a written article with The Lookout plus. The Deanery Plan, agreed unanimously by the Fareham Deanery Synod, has been submitted to the Diocesan Senior Leadership Team but has yet to be accepted and added to the Diocesan Plan.
The current Deanery Plan maintains Ss Peter and Paul as a separate parish but asks that together with Holy Trinity/St Columba and St John’s, Fareham we find ways how together we might advance the mission of the Church locally. It also allocates 2.5 stipendiary Clergy posts to serve the parishes.
It is with great sadness that we heard of the deaths of dear friends this year, Ann Bland, Audrey Spencer, Renee Sturgess and Eve Webb {Organist and Caretaker of St Francis Church, Funtley). Their funerals were celebrated in their parish church but under the reality of the Covid safety restrictions. Each one in their own way made a great contribution to parish life and they are sorely and greatly missed.
5
Financial Review
The expenditure and income in the years 2019 and 2020 for all funds can be summarised as follows:-
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £. | ||
| INCOME | |||
| Income (excluding investment income) | 60,171 | 47,843 | |
| Investment income | 4,174 | 2,505 | |
| TOTAL INCOME | 64,345 | 50,348 | |
| EXPENDITURE | |||
| "FairerShare" payment to Diocese | 37,238 | 41,950 | |
| Other Expenditure | 28,574 | 19,601 | |
| TOTAL EXPENDITURE | 65,812 | 61,551 | |
| UNRESTRICTED DEFICITFOR YEAR ** | (1,467) | (11,203) | |
| DESIGNATED FUNDSSURPLUS FOR YEAR | 3,812 | 3,523 | |
| RESTRICTED SURPLUS FOR YEAR | _ | 5,620 | 1,250 |
| TOTAL SURPLUS (DEFICIT) FOR YEAR | 7,965 | (6,430) | |
| Gain on disposal offixed assets | ° | 50,636 | |
| Increase (decrease) in valuation of investments | 10,487 | (33,840) | |
| TOTALINCREASEOFFUNDSINYEAR | 18,452 | 10,366 |
** The Unrestricted Deficit was £26,594 in 2012, £14,516 in 2013, £10.714 in 2014, £7,859 in 2015, £7,321 in 2017 and £5,706 in 2018. 2016 saw a surplus of £2,136.
As in most previous years, routine expenditure exceeded routine income and will continue unless higher attendance and activity is achieved.
Reserves Policy
It is PCC policy to maintain a balance on unrestricted funds of £30,000 to cover emergency situations that may arise from time to time. As at 31 December 2020 the balance exceeded £250,000.
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these accounts, the trustees are required to:
-
e® select suitable accounting policies and then apply them consistently;
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® observe the methods and principles of the Charities SORP;
-
e make judgements and estimates that are reasonable and prudent
6
-
® state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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® prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the governing document of the Charity.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Approved by Parochial Church Council
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Date: | $e nN wH
Chairman: > > cea: ceieeneieeeiey aceeeeeeenaniaaimeammeae
PCC member & _
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7
Statement of Financial Activities for the year ended 31 December 2020
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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Designated|Restricted|Endowment|Total|Oe|
|funds|funds|funds|funds|funds|aad|
|Income|and|endowments|from:|£|£|£|£|£|£|
|Donations|and|legacies|55,067|—|440||55,507|37,412|
|Income from|charitable|activities|5,091||||5,091|9,428|
|Other|trading|activities|—|—|—|-|3,193|
|Investments|4,174|2,555|282|8,160|15,171|6,170|
|Other|income|13|1,455|920||2,388|3,542|
|Total|income|64,345|4,010|1,642|8,160|78,157|59,744|
|Expenditure|on:|
|Raising|funds|—|—|—|—||1,000|
|Expenditure|on|charitable|activities:|
|Charitable|Giving||198|980|—|1,178|2,593|
|Education|—||50|oa|50|486|
|Ministry|39,078|||—|39,078|43,461|
|Running|Costs|4,661||-|3,152|7,813|12,935|
|Office|Costs|998|—|||998|707|
|Gratuities|2,552|—||-|2,552|2,752|
|Non-routine|Maintenance|18,101|ae||—|18,101|841|
|Other|422|—|—|-|422|1,399|
|Total|expenditure|65,812|198|1,030|3,152|70,192|66,174|
|transferNet|income|/|(expenditure)|resources|before|(1,467)|3,812|612|5,008|7,965|(6,430)|
|Other|recognised|gains|/|losses|
|Gain|on|disposal|of fixed|assets||—|_—|aad|ae|50,636|
|Gains/|(losses) on|investment assets|3,703|5,195|573|1,017|10,487|(33,840)|
|Net movement|in funds|2,236|9,006|1,185|6,025|18,452|10,366|
|Total|funds|brought|forward|256,161|111,939|13,946|477,507|859,552|849,186|
|Total funds|carried forward|958,397|«120,945. ~=Ss«15,131~=S=s«483,532|878,005|859,552|
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8
Balance Sheet as at 31 December 2020
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2020|2019|
|Total|funds|Prior year|funds|
|Fixed|assets|£|£|
|Investments|[Note|3]|581,962|598,325|
|581,962|598,325|
|Current|assets|
|Debtors|[Note|4]|6,582|3,457|
|Cash|at|bank|and|In|hand|[Note|1]|293,839|260,836|
|300,421|264,293|
|Liabilities|
|Creditors:|Amounts|falling due|in|one|4,379|3,066|
|year|[Note|5]|
|4,379|3,066|
|Net|current|assets|less|current|liabilities|296,042|261,227|
|Total|assets|less|current|liabilities|878,004|859,552|
|Total|net|assets|less|liabilities|878,004|859,552|
|Represented|by|[Notes|7 and|8]|
|Unrestricted|General|fund|258,397|256,161|
|Designated|
|Fabric|Designated|Fund|120,946|111,939|
|Restricted|
|Kitchen|improvements|264|264|
|Prices Trust|9,742|8,818|
|Memorial|Fund|5,122|4,839|
|Endowment|483,533|477,508|
|Funds|of the|church|878,004|859,529|
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Approved by Parochial Church ncil
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Date: 22
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Chairman: wedge nang nnnnnennennenenenneneneneneennn
PCC member Oe.
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9
Statement of Cash Flows for the year ended 31 December 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| £ | £ | |||
| Cash Flowsfrom operating activities | ||||
| Net cash provided by operating activities | (9,018) | (7,838) | ||
| Cash flows from investing activities | ||||
| Dividends, interest and rentsfrom investments | 15,171 | 6,170 | ||
| Proceedsfrom the sale of property, plant and equipment | O | 192,636 | ||
| Proceeds from the transfer ofinvestments | 26,850 | 454,970 | ||
| Purchase ofinvestments | Q | (456,907) | ||
| Netcash provided by investing activities | 42,021 | 196,869 | ||
| Change in cash and cash equivalents in the reporting period | 33,003 | 189,031 | ||
| Cash and Cash equivalents at the beginning ofthe | reporting period | 260,836 | 71,805 | |
| Cash and Cash equivalents atthe end ofthe reporting period | 293,839 | 260,836 | ||
| Notes:- | ||||
| Reconciliation of net movement in funds to net cash flows from | ||||
| operating activities | ||||
| Net movement in funds for the reporting periods statement offinancial activities) ° a |
(as ae |
per the | cide | 10,208 |
| Adjustments for: | ||||
| (Gains)/losses on investments | (10,487) | 33,840 | ||
| Dividends, interest and rentsfrom investments | (15,171) | (6,170) | ||
| (Profit)/loss on the sale offixed assets | - | (50,636) | ||
| (Increase)/decrease in debtors | (3,125) | 2,693 | ||
| Increase/(decrease) in creditors | 1,313 | 2,069 | ||
| Net cash provided byoperating activities | (9,018) | (7,838) | ||
| Analysis ofcash and cash equivalents | ||||
| Cash in hand and in bank/CBF Deposit Account | 293,889 | 260,836 | ||
| Totalcashandcashequivalents | 293,889 | 260,836 |
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Analysis of income and expenditure 2020 INCOME
Donations and legacies
| Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| ‘ Unrestricted |
. Designated |
‘ Restricted |
Endowment | - Thisyear |
Last sear |
|||
| £ | £ | £ | £ | £ | £ | |||
| Stewardship Giving& | Gift | |||||||
| Aid | ||||||||
| Envelopes | 22433 | = | - | = | 22433 | 23379 | ||
| Gift Aid - Tax recoverable | 4082 | - | - | - | 4082 | 7162 | ||
| Collections (Open Plate) | 1557 | - | - | - | 1557 | 3225 | ||
| Donations (general) | 1985 | - | - | - | 1985 | 1228 | ||
| Legacy (Fr Corbett) | 25009 | 25009 | - | |||||
| Grants - Prices Trust | = | 440 | - | 440 | 2220 | |||
| Memorial Fund | - | - | - | - | - | 198 | ||
| Total | 55067 | 0 | 440 | 0 | 55507 | 37412 | ||
| Income from charitable | ||||||||
| activities | Total | |||||||
| Unrestricted | Designated | Restricted | Endowment | Thisyear | L sear |
|||
| £ | £ | £ | £ | £ | £ | |||
| Donations for use | 830 | - | - | - | 830 | 6,803 | ||
| Magazine | 6 | = | - | - | 6 | 144 | ||
| PCC Fees | 1,168 | - | - | - | 1,168 | 1,174 | ||
| Coffees,Teasand other refreshments |
116 | ; | ; | : | 116 | 622 | ||
| Listed PlacesofWorship Grant Scheme |
2.971 | : | ; | ; | 2,971 | 685 | ||
| Total | 5,091 | 0 | 6) | 0 | 5,091 | 9,428 | ||
| Other trading activities | ||||||||
| Total | ||||||||
| . Unrestricted |
. Designated |
F Restricted |
Endowment | rs Thisyear |
year | Last year |
||
| E | £ | £ | £ | £ | £ | |||
| Christmas Sale | - | . | - | 0 | 15 | |||
| Autumn Fair | - | - | - | . | 0 | 1,351 | ||
| Christmas Tree Festival | - | - | . | - | 0 | 1,450 | ||
| Other activities/events | - | : | - | - | 0 | 377 | ||
| 0 | 0 | 0 | ) | 0 | 3,193 |
11
Investments
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Total|
|Unrestricted|Designated|Restricted|This year|Last|
|Endowment|year|
|£|£|£|£|£|£|
|CBF|Investment|Fund|1499|1648|182|-|3329|3232|
|CBF|Property|Fund|769|845|93|1707|1943|
|Lloyds TSB|Interest|2|2|0|.|5|12|
|CBF|Deposit|Bank|Interest|54|59|7|-|119|304|
|Diocesan|CBF|Deposits|1851|-|-|-|1851|679|
|Rental|Property|-|-|-|8160|8160|-|
|Total|4174|2555|282|8160|15171|6170|
|Other|Income|
|Total|
|Unrestricted|Designated|Restricted|This year|Last|
|Endowment|year|
|£|£|£|£|£|£|
|Bishop's|Lent|Appeal|-|-|920|-|920|704|
|Children's|Society|Boxes|-|-|-|-|0|143|
|Christmas|Charities|-|-|-|-|0|911|
|Organ|Fund|-|1,220|-|-|1,220|-|
|Harvest|Charities|.|-|-|-|)|287|
|Mission|to|Seafarers|-|-|-|-|0|167|
|Wall|Box|13|-|.|-|13|316|
|Floodlighting|-|235|.|:|235|260|
|Other|incoming|resources|.|-|.|.|0|754|
|13|1,455|920|0|2,388|3,542|
|INCOME TOTAL|64,345|4,010|1,642|8,160|78,157|59,744|
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12
EXPENDITURE
| Raisingfunds | Total | Total | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | Thisyear | Last year |
|
| £ | £ | £ | £ | £ | E | |
| Costs ofFund Raising& Events | - | - | - | - | - | 105 |
| Christmas Tree Festival | - | - | - | - | - | 895 |
| Total | 0 | 0 | 0 | 0 | 0 | 1000 |
| Expenditure on charitable activities -Charitable | Giving | Total | ||||
| Unrestricted | Designated | Restricted | Endowment | Thisyear | oar | |
| £ | £ | £ | £ | £ | £ | |
| Forward in Faith | 60 | 60 | 60 | |||
| Bishops Lent Appeal | 920 | 920 | 704 | |||
| ChristiansTogether in Fareham | - | - | 170 | |||
| Farm Africa | - | - | 240 | |||
| Mission to Seafarers | - | - | 167 | |||
| The Children's Society | - | . | 447 | |||
| Two Saints | - | . | 304 | |||
| Toybox | - | - | 304 | |||
| Community Heartbeat | 198 | 198 | 198 | |||
| Total | 0 | 198 | 980 | 0 | 1178 | 2593 |
| Expenditureoncharitable activities | -Education | ite | I | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | Thisyear | Last at |
||
| £ | £ | £ | £ | £ | £ | ||
| Children’s items | - | : | - | 104 | |||
| Activities | - | 50 | 50 | 383 | |||
| Total | 0) | 50 | 50 | 486 |
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| Expenditure on charitable activities | Expenditure on charitable activities | - Ministry | Total | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | L Thisyear oor |
|||
| £ | £ | £ | £ | £ | £ | ||
| Parish Share | 37238 | 37238 | 41950 | ||||
| Vicarage working expenses | 444 | 444 | 284 | ||||
| Vicarage telephone | 518 | 518 | 542 | ||||
| Vicarage water rates | 499 | 499 | 400 | ||||
| Locum costs | 90 | 90 | - | ||||
| Copyright Licence | 214 | 214 | 194 | ||||
| Service books | 75 | 75 | 3 | ||||
| Deanery Levy | - | - | 60 | ||||
| Coffee Account | = | - | 29 | ||||
| Total | 39078 | 39078 | 43461 | ||||
| Expenditure on charitable activities | - Running Costs | Total | |||||
| Unrestricted | Designated | Restricted | Endowment | Thisyear year | |||
| £ | £ | £ | £ | £ | £ | ||
| Church Electricity | 776 | 776 | 1678 | ||||
| Church insurances | 3077 | 3077 | 3391 | ||||
| Church Maintenance | 599 | 599 | 4227 | ||||
| Church Uniguard | 96 | 96 | 362 | ||||
| Funtley Electricity | - | - | 85 | ||||
| Rental PropertyAgents& Fees |
Legal | 2257 | 2257 | 7 | |||
| Rental Property Insurance | 171 | 171 | - | ||||
| Rental Property Utilities | 255 | 255 | 580 | ||||
| Rental Property Rates | 469 | 469 | 1135 | ||||
| Rental Property Maintenance | - | - | 96 | ||||
| Sacristy | 114 | 114 | 1381 | ||||
| 4661 | 0 | 0 | 3152 | 7813 | 12935 | ||
| Expenditure on charitable activities | - Office Costs | Total | |||||
| Unrestricted | Designated | Restricted | Endowment | Thisyear year | |||
| £ | £ | £ | £ | £ | £ | ||
| Copier and otherequipment | 662 | 662 | 205 | ||||
| Telephone | 311 | 311 | 304 | ||||
| Stationery and Consumables | 25 | 25 | 179 | ||||
| Office Miscellaneous | - | = | 19 | ||||
| Total | 998 | 998 | 707 |
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|||||||||
|---|---|---|---|---|---|---|---|
|Expenditure on|charitable|activities|-|Gratuities|Total|
|Unrestricted|Designated|Restricted|Endowment|This year|year|
|£|£|£|£|£|£|
|Gratuity-Administrator|1632|1632|1632|
|Gratuity|- Organist|920|920|1120|
|Total|2552|2552|2752|
|Expenditure|on|charitable|activities|-|Non-routine|maintenance|Total|
|:|:|3|,|Last|
|Unrestricted|Designated|Restricted|Endowment|This year|year|
|£|£|£|£|£|£|
|Church|-|non-routine|
|maintenance|TBTOL|18101|756|
|Hall|-|non-routine|maintenance|=|7|85|
|Total|18101|0|18101|841|
|Expenditure|on|charitable|activities|- Other|Total|
|Unrestricted|Designated|Restricted|Endowment|This year|year|
|£|£|£|f|£|£|
|Magazine|262|262|741|
|Parish|Christmas|Leaflets|-|-|78|
|Bank|Charges|160|160|271|
|Miscellaneous|-|.|309|
|Total|422|422|1399|
|EXPENDITURE TOTAL|65,812|198|1,030|3,152|70,192|66,174|
|TOTAL SURPLUS / (DEFICIT)|(1,467)|3,812|612|5,008|7,965|(6,430)|
----- End of picture text -----
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Notes to the Financial Statements for the year ended 31 December 2020
- Accounting Policies
The financial statements have been prepared in accordance with the Charities Act 2011, the associated Church Accounting Regulations 2006, applicable accounting standards and the Statement of Recommended Practice for Accounting and Reporting by Charities with applicable accounting standard FRS 102. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
Funds
General funds represent the funds of the PCC that are not subject to any restriction regarding their use and are available to be used for PCC ordinary purposes. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds can only be used for the purposes specified. Incoming resources from endowment funds are restricted.
The accounts include 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, informal gatherings of church members or the costs and income related to Diocesan Fees which are dealt with through the PCC bank account.
Incoming Resources
Voluntary income and capital sources
-
e Collections are recognised when received by or on behalf of the PCC e Planned giving receivable under Gift Aid is recognised only when received
-
® Income Tax recoverable on Gift Aid donations is recognised when the incoming resources to which the recovery relates are received
-
e Grants and legacies to the PCC are recognised when there is evidence of entitlement, receipt is probable and its amount can be measured reliably
-
e Income from all fund raising events is accounted for gross
Other income
- e Dividend and interest entitlements are accounted for when they are due/accrue and any income tax recoverable is recognised in the same accounting year
Gains and losses on investments
- ® Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at mid-market value on 31 December
Resources expended
Grants, donations and invoices
- e Grants and donations are accounted for when paid over, or when awarded if that award creates a binding or constructive obligation on the PCC. All other expenditure is generally recognised when it is incurred
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Parish Share
e = The Parish Share ("Fairer Share") is accounted for when payable
Value Added Tax
- e Value Added Tax is included in the cost of items reported in the statement of financial activities
Fixed Assets
Consecrated property & moveable church furnishings
-
® Consecrated and beneficed property of any kind is excluded from the accounts by section 10(2){a) of the Charities Act 2011
-
e Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted as Heritage Assets unless consecrated. They are listed in the church's inventory which can be inspected at any reasonable time. For Heritage assets acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight line basis
-
e No depreciation is provided on freehold land and buildings as the Net Realisable Value is such that depreciation would be immaterial to the accounts
-
e All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £5,000 or on the repair of movable church furnishings acquired before 1 January 2000 is written off
-
Other fixtures, fittings and office equipment
-
e Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of £5,000 or less are written off when acquired
Investments
- e Investments are valued at mid-market value at 31 December
Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less any necessary provision for amounts that may prove uncollectable.
Cash at bank and cash equivalents at 31 December is shown as follows:
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £: | ||
| Lloyds Bank PLC CurrentAccount | 5,366 | 4,885 | |
| Lloyds Bank PLC DepositAccount | 16,731 | 17,226 | |
| CBF Church of England Deposit Account | 48,746 | 43,517 | |
| Held by Diocesan Board of Finance | 222,996 | 195,208 | |
| TOTAL | 293,839 | 260,836 |
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2. Payments to PCC and employees and related party transactions
Payments to PCC members Mrs Anne Butcher received a gratuity of £1,632 in her capacity of Administrator
The PCC has no employees
Related Party Transactions During the year, donations from all PCC members while in office amounted to £5,017 (excluding Gift Aid) (£7,456 in 2019). Father Roger Jackson SSC, Mrs Margaret Chappell and Mrs Anne Butcher (co-opted) sit on the Board of Trustees for the William Price Charitable Trust. The Trust provides grants to the PCC, amongst other organisations, for the education of the under 25’s in furthering their Christian upbringing. During the year the PCC received £440 (£2,220 in 2019) from the Trust.
3. Fixed Assets for us by the PCC
Investment Assets
Manor Cottage was sold in 2019 for net consideration (after professional fees) of £454,570, with the proceeds held on deposit by the Portsmouth Diocesan Board of Finance. A property in Knowle Village was purchased during the year for a cost of £270,011 utilising funds held in this account. The balance remains held pending a search for a second property to eventually yield further rental income. As rental income and sale proceeds are restricted to use on maintenance of the fabric of the church, these funds are included in restricted balances and are shown as investments to emphasise the intended use of funds.
| INVESTMENTS | 31-Dec-19 | Transfer | Transfer | Gain/(Loss) 31-Dec-20 |
Gain/(Loss) 31-Dec-20 |
31-Dec-20 | 31-Dec-20 |
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |||
| Investment Property | - | 270,011 | 270,011 | ||||
| CBF Investment Fund (General) | 105,934 | - | - | 12,657 | 118,591 | ||
| CBF Property Fund (General) | 35,484 | - | - | (2,170) | 33,314 | ||
| Diocesan Board of Finance: | |||||||
| Endowmentproperty proceeds | 456,907 | (270,011) | (26,850) | - | 160,046 | ||
| TOTAL | 598,325 | - | (26,850) | (10,487) | 581,962 | ||
| Unrestricted | Restricted | Endowment | Total | ||||
| Net Assets by Fund: | Funds | Funds | Funds | ||||
| £ | £ | £ | £ | ||||
| Investments | 129,244 | 8,068 | 471,500 | 581,96: | |||
| Current Assets | 281,328 | 7,060 | 12,033 | 300,42: | |||
| Current Liabilities | (4,379) | - | (4,379 | ||||
| TOTAL | 379,343 | 15,128 | 483,533 | 878,00: |
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4. Debtors
| 4. Debtors |
||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Gift Aid Recoverable | 1,424 | 3,457 |
| Other Debtors | 5,158 | - |
| 6,582 | 3,457 |
| 5. | Creditors | ||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| Accruals of Utility costs | 136 | 546 | |
| Creditors forGoods and Services | 4,243 | - | |
| Other | Creditors | . | 2,520 |
| 4,379 | 3,066 |
6. Year End Commitments
There are no significant commitments not recognised in the accounts.
7. Fund Details
The following funds are operated:
Designated Fabric Fund
Restricted Fabric Fund Memorial Fund
Organ Fund Prices Charity
Shell Fund
Kitchen Improvements
Maintenance and improvement schemes for church buildings
General maintenance of the church buildings . . : ‘ Subscribed to by those associated with those named in the Memorial Book and used for the beautification of the church For maintenance of the organ Funds from the William Price Charitable Trust for the education of members of the congregation under the age of 25 years
To account for funds related to pilgrimages
To fund improvements to the kitchen in the Church Hall
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8. ANALYSIS OF FUNDS:
| Gains | ||||||
|---|---|---|---|---|---|---|
| Balance | Income | Outgoings | and | Transfers | Balance | |
| losses | ||||||
| brought | carried | |||||
| Unrestricted | forward | forward | ||||
| General (incl Harold Wright | £ | £ | x | & | £ | |
| legacy) | 256,161 | 64,345 | (65,812) | 3,703 | 258,397 | |
| 256,161 | 64,345 | (65,812) | 3,703 | 258,397 | ||
| Designated | ||||||
| Fabric (incl HW legacy) | 111,939 | 4,010 | (198) | 5,195 | 120,946 | |
| 111,939 | 4,010 | (198) | 5,195 | 120,946 | ||
| Restricted | ||||||
| PricesTrust | 8,818 | 722 | (110) | 312 | 9,742 | |
| Lent Appeal | 920 | (920) | 0 | |||
| Memorial Fund | 4,862 | 0 | 0 | 260 | 5,122 | |
| Hall Kitchen | 264 | 0 | - | 264 | ||
| 13,944 | 1,642 | (1,030) | 572 | 15,128 | ||
| Endowment | ||||||
| Endowment Property | 477,508 | 8,160 | (3,152) | 1,017 | (207,497) | 276,036 |
| Endowment Funds ** | 207,497 | 207,497 | ||||
| 477,508 | 8,160 | (3,152) | 1,017 | 0 | 483,533 | |
| TotalFunds | 859,552 | 78,157 | (70,192) | 10,487 | 878,004 |
** Representing funds held by Portsmouth Diocesan Board of Finance for intended investment in a second property to generate rental income.
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