**Charity Registration No. 1128844** 

**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** 



**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

## **Trustees** 

Mrs E Tooze Mrs J M Luton Mr B Fell Mrs P Woodroffe Mr E Butterley Mr P C Taylor Mr A P Leyland Mrs R Backhouse Mrs L A Marrow Mrs A Wood Rev M M Slyfield Miss J Hulme Mr R Gawel Mr E Thompson Mrs C Fell Mrs K Barton Mrs H Everatt Mrs J E Parker Mrs M R Overton Mrs M E Shaw Davies Rev J Overton Rev E England Ms L Baldry Dr R Beck Rev C Hubbard E Haggis M Matthews 

M Matthews (Appointed 7 October 2020) J Piercy (Appointed 7 October 2020) Mr J Wallace (Appointed 7 October 2020) 

**Charity number** 

1128844 

**Principal address** 

29 Bath Road Buxton Derbyshire SK17 6HJ 

**Independent examiner** 

Smith Cooper Limited 7 Compton Street Ashbourne Derbyshire United Kingdom DE6 1BX 



**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **CONTENTS** 

||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7 - 8|
|Balance sheet|9|
|Notes to the financial statements|10 - 19|





**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **TRUSTEES' REPORT** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

The Trustees present their report and financial statements for the year ended 31 December 2020. 

The accounts have been prepared in accordance with the accounting policies set out in note1 to the accounts and comply with the Charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016) 

## **Objectives and activities** 

The Charity's objects are  bringing people to faith and faith to people. 

The Trustees have  paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. 

## **Achievements and performance** 

## **2020 A Difficult Year** 

The Parish started its year largely unaware of a gathering storm of a pandemic that would bring severe illness to some, untimely loss of life to others and disruption to the normality of life. In fact, our Team Rector Rev Liz England was an early casualty of the virus in March, only returning to her work after many weeks of incapacity. The after-effects of the virus resulted in a further period of illness later in the year and into the following year. 

During the periods the churches were closed, the Parish was fortunate that other forms of worship were developed; on-line and a telephone system for those parishioners who did not utilise the internet offerings. The Team  Rector w as supported by non-stipendiary clergy, retired clergy and licensed readers during the year. The Parish was fortunate to be given the services of a Curate, Catrin Hubbard, in June, and her drive, good humour and enthusiasm during this difficult year have been a blessing to the Parish. 

## **Financial review** 

The net expenditure of the Parish was £7 4,899 . The previous year there had been net expenditure of £7 , 186. The Parish did pay in full its Common Fund request to the Diocese of £75,469. 

## **St John's** 

The church had a net expenditure of £2 4,839 .  This deficit is a result of continuing expenditure at a time when the church was either closed or was unable to raise funds due to lockdown or social distancing rules. 

The congregation only met for services on 19 occasions during the year. The pandemic has caused much distress and bewilderment to a large proportion of many of its congregation. Many of whom live alone and have struggled with the isolation. The churchwardens and other members of the congregation have tried to maintain contact with the congregation by telephone and the internet. When the church was able to open , seating capacity was reduced by two thirds for social distancing reasons. There were no celebrations of marriage or christenings and no funerals were held in the church during 2020. Buxton Festival activities were cancelled. 

Security measures for the church were reviewed by Insurers and their recommendations were implemented during the year ,  t his included installing Wi-Fi in the church . 

## **St Anne's** 

The church had net expenditure of £8,927.  Following the first national lockdown on March 23rd there were no services held during the year. 

A beautiful old church, which like all other churches in the Parish closed during the first lockdown.  It was however the first church to re-open to visitors.  In early August it opened for private prayer twice a week and has remained open throughout the remainder of 2020. It is a sacred church in which to pray and its peace has been sought by many residents of the town from many different congregations. 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **St Mary's** 

The church had net expenditure of £13,699.  The last service before lockdown was on the 15th March and the church was closed until a service on 15th September.  There were then only a couple of services up to and including Christmas Day.  One of these services was the leaving service for Rev Keith Cocking who left the Parish to take up an appointment in the north-east of the Diocese.  During the various lockdowns and whilst the church was closed for public worship, the churchwardens organised an online Zoom service “Jigsaw Church” on a twice a month basis.  It attracted a strong congregation and was a compelling example of “Being Church”.  The wardens also maintained contact with the congregation by email, telephone and where permitted, visits. It was with sadness that the church lost its oldest member who sadly passed away shortly before her 103rd birthday.  A collection of her poems is currently being sold.  In this way, Betty still contributes to the life of St Mary’s. 

On the 19th December an organised outdoor carol singing event took place in the grounds of the church.  All socially distanced, but great fun as the church approached the joy of Christmas. It is worth noting that the roofing repairs carried out in 2019 has cured the water ingress problems and enabled easier maintenance of the roof tiles. 

## **Christ Church Burbage** 

The church had net expenditure of £13,568.  The church was pleased to host the licensing of Rev Margaret Slyfield in February, a further blessing for the Parish.  As with other churches, Christ Church Burbage closed its doors at the commencement of the first lockdown in March.  This disruption to the normal service pattern continued through the balance of the year.  The church however did hold a service on Christmas Day and had continued its usual Christmas Memorial lights by erecting a Christmas tree outside of the church.  The church still has an open graveyard and six funerals were held, three of which were at the graveside.  There were also eleven burials of ashes.  The church marked Remembrance Day with a service around Burbage Cenotaph, where a wreath was laid on behalf of the church.  The lockdowns and social distancing have caused distress to many members of the congregation, and recognising this, the churchwardens have tried stay in contact by phone, email and where allowed personal visits.  Routine maintenance of the church continued and improvements to heating systems were also completed. 

## **St James'** 

The church had net expenditure of £4,921. This church closed at the start of the first lockdown and sadly has not yet reopened.  This decision reflects the age and to some extent the infirmity of the small congregation, who were shielding because of the pandemic.  The church did however hold an outside prayer event in July where everyone from the area was invited to attend. 

The church is in a poor state of repair, mainly due to the effects of weathering and original building deficiencies.  Sadly, earnest consideration must be given as to its future as a worshipping church. 

## **Christ the King , King Sterndale** 

The church had net expenditure of £5,357.  The church started the year brightly.  Towards the end of February there was a village service led by the Rector.  On the 8th March the Rector was joined for a service of Holy Communion by the Bishop of Derby, Libby. It was the Bishop’s first visit to the Parish following her ordination. The last service before lockdown was on the 15th March. The church then remained closed for services until Christmas Day, over nine months later. The church did however open for private prayer in the autumn.  During the period of lockdown, the church organised a number of online “Activity Churches”, which was a blessing to all who attended. 

## **King Sterndale Hall** 

The hall had a net expenditure of £885 in the year. 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **Bath Road Centre** 

The Centre continues under the dedicated and resourceful control of Jennie Parker.  The Parish is very blessed to have the services of Jennie Parker and the support she brings to all the churches in the Parish. The various periods of lockdown meant that income from letting was greatly reduced.  Income from lettings decreased to £5 , 851. In 2019 income had been £14,315.  The decision was made not to furlough our two employees,  both of whom work part time,  as the work of communication and support for the Parish was now even more important.   Many elderly or infirm members of the Parish received cooked meals, organised by the Parish during the first lockdown period.  The work to reorder the offices was commenced towards the end of the year, (but was only invoiced to the Centre in 2021). 

The Parish and the Diocese elected to waive any funeral fee costs during the period 22nd April to 31st August as an act of charity to help bereaved families. 

## **Central** 

Our central costs of running the Parish were £28,113. Other financial figures of note this year for the parish include: - 

Church Collections - £6,646 (2019 £31,683) Fees - £5,821 (2019 £27,733) Fund Raising - £4,147 (2019 £18,270) Standing Orders - £36,271 (2019 £35,181) Gift Days - £896 (2019 £3,191) Rent rec'd - £7,351 (2019 £24,485) Total Income - £94,133 (2019 £219,936) 

Church Maintenance - £12,234 (2019 £33,755) Clergy Expenses - £1,845 (2019 £3,912) Common Fund - £75,469 (2019 £73,056) Total Expenses - £16 9,032 (2019 £227,122) 

## Deficit - (£7 4 , 899 ) (2019 (£7,186)) 

The cost at a central level of operating the Parish and Common Fund payments are divided between the churches in proportion with their per capita distribution of half the electoral roll and half the usual Sunday adult attendees. 

The PCC strongly recognise the benefit of Gift Aid Giving by Standing  Order and hopes more givers will join the scheme as it guarantees a church's income, (especially during periods of closure or non-attendance), streamlines the administrative work and allows us to plan for the future with more certainty.  It  i s also worth noting that our banks no longer welcome large amounts of small denomination deposits and will in future reserve the right to charge for this facility. 

The Treasurers and the PCC are grateful to everyone for their generosity whether they gave financially or with their talents or with both. 

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. 

## **Structure, governance and management** 

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. 

The Trustees who served during the year  and up to the date of signature of the financial statements  were: Mrs E Tooze 

Mrs J M Luton Mr B Fell 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

Mrs P Woodroffe Mr E Butterley Mr P C Taylor Mr A P Leyland Mrs R Backhouse Mrs L A Marrow Mrs A Wood Rev M M Slyfield Miss J Hulme Mr R Gawel Mr E Thompson Mrs C Fell Mrs K Barton Mrs H Everatt Rev K Cocking (Resigned 13 December 2020) Mrs J E Parker Mrs M R Overton Miss M Falby (Resigned 26 August 2020) Mrs M E Shaw Davies Rev J Overton Rev E England Ms L Baldry Dr R Beck Rev C Hubbard E Haggis M Matthews (Appointed 7 October 2020) J Piercy (Appointed 7 October 2020) Mr J Wallace (Appointed 7 October 2020) 

All trustees are appointed at the Annual General Meeting. 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **The People Involved** 

Philip Leyland was re-elected as Parish Treasurer at the delayed AGM on the 7th October 2020 and with the assistance of Rosie Shipley, Finance Assistant, and help from Jennie Parker, Parish Administrator, and external resources, processed all the paperwork in the office, recording payments in and out during 2020. Philip was supported by the Treasurers from the churches in the Parish and the Wardens. Additional help was given by Eric Thompson, Ian Arm i tt and Robin Cundill who handled VAT and Gift Aid recovery procedures. Many thanks go out to all these very special people. The Parish continues to be very fortunate to have their freely given time and expertise. 

Grateful thanks are also extended to all clergy, especially Rev Liz England and Rev Keith Cocking. Also to church members, who gave their time and talents in prayer, worship, mission, fund raising, administration, maintenance, gardening, cleaning, providing refreshments, safeguarding, outreach and supporting one another to further the life of our churches here in Buxton Parish. 

It was a very difficult year for the whole of society and our churches and congregations were not immune from this.  The first national lockdown saw all of our churches close their doors on March 23rd and remain closed for many months. During this period, congregations had to develop new ways of being church. At the beginning of August, St Anne’s opened but only for private prayer. It wasn’t until September that St John’s opened and welcomed parishioners from the Parish to an organised service. 

The full PCC met on a number of occasions. Where it was possible and allowed these were physical meetings (including the 2020 Annual Meeting). Where it wasn’t possible there were meetings of the Standing Committee and also a number of Zoom PCC meetings. 

During 2020 copies of the quarterly accounts were distributed to the trustees during the year. Financial updates were given at the various meetings. 

## **The Data** 

The 2020 Financial Statements were presented to the PCC at its meeting on the 27th April 2021. The PCC recommended that the reports be presented for approval at its AGM on the 25th May 2021, following published copies in draft form having been in all six churches for at least 14 days prior to the Annual Meeting. 

The Trustees'  r eport was approved by the Board of Trustees. 

.............................. 

Trustee Dated: ......................... 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **INDEPENDENT EXAMINER'S REPORT** 

## **TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

I report to the Trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Buxton with Burbage and King Sterndale (the Charity) for the year ended 31 December 2020. 

## **Responsibilities and basis of report** 

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). 

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. 

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

- 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 

- 2 the financial statements do not accord with those records; or 

- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 

Smith Cooper Limited 

7 Compton Street Ashbourne Derbyshire DE6 1BX United Kingdom 

Dated: ......................... 

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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

|**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**2020**<br>**2020**<br>**2020**<br>**Notes**<br>**£**<br>**£**<br>**£**<br>**Income and endowments from:**<br>Donations and legacies<br>**3**<br>70,994<br>-<br>-<br>Charitable activities<br>**4**<br>19,368<br>-<br>-<br>Investments<br>**5**<br>1,925<br>-<br>-<br>Other income<br>-<br>-<br>-<br>**Total income and endowments**<br>92,287<br>-<br>-<br>**Expenditure on:**<br>Raising funds<br>**6**<br>62<br>-<br>-<br>Charitable activities<br>**7**<br>139,650<br>8,447<br>-<br>Other<br>**10**<br>20,072<br>775<br>-<br>**Total resources expended**<br>159,784<br>9,222<br>-<br>Net gains/(losses) on investments<br>**11**<br>2,134<br>-<br>-<br>**Net income/expenditure**<br>(65,363)<br>(9,222)<br>-|**Total**Unrestricted<br>Restricted Endowment<br>funds<br>funds<br>funds<br>**2020**<br>2019<br>2019<br>2019<br>**£**<br>**£**<br>**£**<br>**£**<br>70,994<br>121,113<br>4,500<br>173<br>19,368<br>83,161<br>-<br>-<br>1,925<br>2,232<br>-<br>-<br>-<br>52<br>-<br>-<br>92,287<br>206,558<br>4,500<br>173<br>62<br>1,085<br>-<br>-<br>148,097<br>205,334<br>(56)<br>-<br>20,847<br>19,647<br>-<br>-<br>169,006<br>226,066<br>(56)<br>-<br>2,134<br>8,517<br>-<br>-<br>(74,585)<br>(10,991)<br>4,556<br>173|Total<br>2019<br>**£**<br>125,786<br>83,161<br>2,232<br>52<br>211,231<br>1,085<br>205,278<br>19,647<br>226,010<br>8,517<br>(6,262)|
|---|---|---|



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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

|**Net movement in funds**<br>Fund balances at 1 January 2020<br>**Fund balances at 31 December 2020**|(65,363)<br>352,484<br>287,121|(9,222)<br>43,797<br>34,575|-<br>1,086<br>1,086|(74,585)<br>397,367<br>322,782|(10,991)<br>363,475<br>352,484|4,556<br>39,241<br>43,797|173<br>913<br>1,086|(6,262)<br>403,629<br>397,367|
|---|---|---|---|---|---|---|---|---|



The statement of financial activities includes all gains and losses recognised in the year. 

All income and expenditure derive from continuing activities. 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **BALANCE SHEET** 

## _**AS AT 31 DECEMBER 2020**_ 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**12**<br>Investments<br>**13**<br>**Current assets**<br>Debtors<br>**15**<br>Cash at bank and in hand<br>**Creditors: amounts falling due within**<br>**one year**<br>**16**<br>Net current assets<br>**Total assets less current liabilities**<br>**Capital funds**<br>Endowment funds - general<br>**17**<br>**Income funds**<br>Restricted funds<br>**18**<br>Unrestricted funds|**2020**<br>**£**<br>3,678<br>266,906<br>270,584<br>(4,013)|**£**<br>23,060<br>33,151<br>56,211<br>266,571<br>322,782<br>1,086<br>34,575<br>287,121<br>322,782|**2019**<br>**£**<br>-<br>342,795<br>342,795<br>(4,656)|**£**<br>28,211<br>31,017<br>59,228<br>338,139<br>397,367<br>1,086<br>43,796<br>352,485<br>397,367|
|---|---|---|---|---|



The accounts were approved by the Trustees on ......................... 

|..............................|..............................|
|---|---|
|Mrs J M Luton|Mr A P Leyland|
|**Trustee**|**Trustee**|



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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **1 Accounting policies** 

## **Charity information** 

The Parochial Church Council of the Ecclesiastical Parish of Buxton is a charity controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. 

## **1.1 Accounting convention** 

The accounts have been prepared in accordance with the Charity's governing document,  the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 

The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. 

The financial statements are prepared in sterling , which is the functional currency of the Charity.  Monetary a mounts  in these financial statements are  rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees  continue  to adopt the going concern basis of accounting in preparing the financial statements. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. 

## **1.4 Incoming resources** 

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **1 Accounting policies** 

**(Continued)** 

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 

## **1.5 Tangible fixed assets** 

Tangible fixed assets  are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: 

Plant and equipment 20% Straight line Church fixtures and fittings 25% Straight line Office equipment 20% Straight line 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in  net income/(expenditure) for the year. 

## **1.6 Fixed asset investments** 

Fixed asset investments  are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date.  Changes in fair value are recognised in  net income/(expenditure) for the year . Transaction costs are expensed as incurred. 

## **1.7 Impairment of fixed assets** 

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) . 

## **1.8 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.9 Financial instruments** 

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the Charity's  balance sheet  when the Charity becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **1 Accounting policies** 

## **(Continued)** 

## _**Basic financial assets**_ 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## _**Basic financial liabilities**_ 

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of  operations  from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## _**Derecognition of financial liabilities**_ 

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. 

## **1.10 Employee benefits** 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **1.11 Retirement benefits** 

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 

## **2 Critical accounting estimates and judgements** 

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

|**3**<br>**Donations and legacies**<br>**Unrestricted**<br>**Restricted Endowment**<br>**funds**<br>**funds**<br>**funds**<br>**general**<br>**£**<br>**£**<br>**£**<br>Regular giving<br>36,271<br>-<br>-<br>Grants<br>1,669<br>-<br>-<br>Sundry donations<br>4,401<br>-<br>-<br>Gift aid<br>15,659<br>-<br>-<br>Collections<br>6,646<br>-<br>Gift days<br>486<br>-<br>Appeals and donations<br>5,862<br>-<br>-<br>70,994<br>-<br>-<br>**For the year ended 31 December**<br>**2019**<br>121,113<br>4,500<br>173<br>**4**<br>**Charitable activities**<br>**Charitable**<br>**Income**<br>**2020**<br>**£**<br>Fundraising events<br>4,780<br>Lettings of church properties<br>7,351<br>Fees<br>5,821<br>Sundry income<br>1,416<br>19,368<br>**5**<br>**Investments**<br>Dividends and interest|**Total**<br>**Total**<br>**2020**<br>**2019**<br>**£**<br>**£**<br>36,271<br>35,211<br>1,669<br>7,965<br>4,401<br>3,172<br>15,659<br>16,537<br>6,646<br>31,510<br>486<br>3,191<br>5,862<br>28,200<br>70,994<br>125,786<br>125,786<br>**Charitable**<br>**Income**<br>**2019**<br>£<br>18,613<br>24,483<br>27,494<br>12,571<br>83,161<br>**2020**<br>**2019**<br>**£**<br>**£**<br>1,925<br>2,232|
|---|---|



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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **6 Raising funds** 

|||**Unrestricted**|<br>**Total**|
|---|---|---|---|
|||**funds**||
|||**2020**|<br>**2019**|
|||**£**|<br>**£**|
||Fundraising and publicity|||
||Cost of fund raising events|62|<br>1,085|
|||62|<br>1,085|
|**7**|**Charitable activities**|||
|||**Charitable**|<br>**Charitable**|
|||**Expenditure**|<br>**Expenditure**|
|||**2020**|<br>**2019**|
|||**£**|<br>**£**|
||Staff Costs|16,893|<br>16,480|
||Common fund|75,470|<br>73,058|
||Clergy expenses|2,479|<br>1,436|
||Church running expenses|24,341|<br>29,138|
||Church maintenance|20,772|<br>62,985|
||Church hall costs|3,167|<br>4,094|
||Provisions for worship|526|<br>5,337|
||Organists and vergers|160|<br>1,160|
||Charitable giving|1,836|<br>3,102|
||Honorarium|690|<br>4,553|
||Missions and Charities|||
|||1,763|<br>3,935|
|||148,097|<br>205,278|
|||148,097|<br>205,278|
||**Analysis by fund**|||
||Unrestricted funds|139,650|<br>205,334|
||Restricted funds|8,447|<br>(56)|
|||148,097|<br>205,278|
||**For the year ended 31 December 2019**|||
||Unrestricted funds|205,334||
||Restricted funds|(56)||
|||205,278||



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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **8 Trustees** 

Remuneration of £12,870 (2019: £11,132) and pension contributions of £554 (2019: £236) were paid in respect of Mrs J Parker, a trustee solely for her work as the parish's administrator. 

The trustees Rev Cocking, Rev Slyfield, Rev England and Mr E Butterley  were reimbursed a total of £ 1,200 for  expenses in relation to their duties as clergy of the parish ( 2019:  £ 3,291 ). 

## **9 Employees** 

## **Number of employees** 

The average monthly number of employees during the year was: 

||**2020**|**2019**|
|---|---|---|
||**Number**|**Number**|
||2|2|
|**Employment costs**|**2020**|**2019**|
||**£**|**£**|
|Trustees' salaries|12,870|11,132|
|Staff salaries|2,079|1,821|
|Trustees' pensions paid|554|236|
|Trustees' expenses|1,200|3,291|
|RF CA1 - Trustee' expenses|190|-|
||16,893|16,480|



No employees received emoluments in excess of £60,000. 

## **10 Other** 

|**Unrestricted Restricted**<br>**funds**<br>**funds**<br>Net loss on disposal of intangible fixed assets<br>-<br>-<br>Depreciation<br>9,848<br>-<br>Bank charges<br>28<br>-<br>Telephone and postage<br>752<br>-<br>Printing and stationery<br>1,606<br>727<br>Advertising<br>175<br>-<br>Sundries<br>2,455<br>48<br>Accountancy<br>5,208<br>-<br>20,072<br>775<br>**For the year ended 31 December 2019**<br>19,647<br>-|**Total**<br>**2020**<br>**£**<br>-<br>9,848<br>28<br>752<br>2,333<br>175<br>2,503<br>5,208<br>20,847|**Total**<br>**2019**<br>**£**<br>(2,948)<br>7,294<br>12<br>754<br>2,532<br>758<br>5,953<br>5,292<br>19,647<br>19,647|
|---|---|---|



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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

|**10**|**Other**||||**(Continued)**|
|---|---|---|---|---|---|
|**11**|**Net gains/(losses) on investments**|||||
|||||**Unrestricted**|<br>**Total**|
|||||**funds**||
|||||**2020**|<br>**2019**|
|||||**£**|<br>**£**|
||Revaluation of investments|||2,134|<br>8,517|
|**12**|**Tangible fixed assets**|||||
|||**Plant and**|**Church**|**Office**|**Total**|
|||**equipment**|**fixtures and**|**equipment**||
||||**fittings**|||
|||**£**|**£**|**£**|**£**|
||**Cost**|||||
||At 1 January 2020|1,140|43,501|8,553|53,194|
||Additions|4,697|-|-|4,697|
||At 31 December 2020|5,837|43,501|8,553|57,891|
||**Depreciation and impairment**|||||
||At 1 January 2020|1,140|20,226|3,617|24,983|
||Depreciation charged in the year|517|8,170|1,161|9,848|
||At 31 December 2020|1,657|28,396|4,778|34,831|
||**Carrying amount**|||||
||At 31 December 2020|4,180|15,105|3,775|23,060|
||At 31 December 2019|-|23,275|4,936|28,211|



## **13 Fixed asset investments** 

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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

|**13**<br>**Fixed asset investments**<br>**Cost or valuation**<br>At 1 January 2020<br>Valuation changes<br>At 31 December 2020<br>**Carrying amount**<br>At 31 December 2020<br>At 31 December 2019<br>**14**<br>**Financial instruments**<br>**Carrying amount of financial assets**<br>Equity instruments measured at cost less impairment<br>**Carrying amount of financial liabilities**<br>Measured at amortised cost<br>**15**<br>**Debtors**<br>**Amounts falling due within one year:**<br>Prepayments and accrued income<br>**16**<br>**Creditors: amounts falling due within one year**<br>Trade creditors<br>Other creditors|**(Continued)**<br>**Listed**<br>**investments**<br>**£**<br>31,017<br>2,134<br>33,151<br>33,151<br>31,017<br>**2020**<br>**2019**<br>**£**<br>**£**<br>33,151<br>31,017<br>4,013<br>4,656<br>**2020**<br>**2019**<br>**£**<br>**£**<br>3,678<br>-<br>**2020**<br>**2019**<br>**£**<br>**£**<br>2,729<br>2,721<br>1,284<br>1,935<br>4,013<br>4,656|
|---|---|



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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

## **17 Endowment funds** 

Endowment funds represent assets which must be held permanently by the Charity. Income arising on the endowment funds can be used in accordance with the objects of the Charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. 

|||**Movement**|**in funds**||
|---|---|---|---|---|
||**Balance at 1**|**Incoming**|**Resources**|**Balance at 31**|
||**January**|**resources**|**expended**|**December**|
||**2020**|||**2020**|
||**£**|**£**|**£**|**£**|
|**Permanent endowments**|||||
|St John's endownment|313|-|-|313|
|Burbage graveyard endowment|773|-|-|773|
||1,086|-|-|1,086|



## **18 Restricted funds** 

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: 

|||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|
||**Balance at**|**Incoming**|**Resources**|**Balance at**|
||**1 January 2020**|**resources**|**expended**|**31 December**|
|||||**2020**|
||**£**|**£**|**£**|**£**|
|St Johns Music|545|-|-|545|
|St Anne's fabric|2,706|-|(100)|2,606|
|St Anne's minor renovations|437|-|-|437|
|Christ Church Burbage fabric|8,997|-|(5,808)|3,189|
|Christ Church Burbage churchyard|811|56|(867)|-|
|St James' fabric|9,172|-|-|9,172|
|Christ Church King Sterndale fabric|7,731|-|-|7,731|
|Christ Church King Sterndale churchyard|756|-|(520)|236|
|Christ Church King Sterndale youth work|207|-|-|207|
|Outreach|1,943|-|(1,528)|415|
|St John's CCTV|212|-|(212)|-|
|World War One commemoration|51|-|-|51|
|St John's footpaths|243|-|(243)|-|
|St John's lighting|4,801|-|-|4,801|
|Burbage Graveyard|685|-|-|685|
|Bingham Trust Grant (Lighting)|4,500|-|-|4,500|
||43,797|56|(9,278)|34,575|



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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BUXTON WITH BURBAGE AND KING STERNDALE** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ 

|**19**<br>**Analysis of net assets between funds**<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Endowment**<br>**funds**<br>**2020**<br>**2020**<br>**2020**<br>**£**<br>**£**<br>**£**<br>Fund balances at 31 December<br>2020 are represented by:<br>Tangible assets<br>23,060<br>-<br>-<br>Investments<br>33,151<br>-<br>-<br>Current assets/(liabilities)<br>266,571<br>-<br>-<br>322,782<br>-<br>-|**Total**<br>**2020**<br>**£**<br>23,060<br>33,151<br>266,571<br>322,782|**Total**<br>**2019**<br>**£**<br>28,211<br>31,017<br>338,139<br>397,367|
|---|---|---|



## **20 Related party transactions** 

There were no disclosable related party transactions during the year (2019 - none). 

## **21 Affiliated societies and groups** 

The affiliated societies and groups of the parish are considered not to be under the direct control of the parish, consequently their incoming resources and resources used have not been incorporated into the financial statements 2020 year end. The funds held by the above at 31 December 2020 were: 

£ Anglican Women's Fellowship 386 Mothers Union 184 Monday Lunch Club 578 

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