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2021-12-31-accounts

Charity registration number 1129067

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Sansom C O P Sansom V Mills D J Fouracre J Dayment T J White Revd Dr S Martin F Dunster M King C King S Selby M Bremridge J Dauncey R Griffin F Watton H Long (Appointed 1 May 2021) W M Brooks (Appointed 1 May 2021) Treasurer A Sansom Charity number 1129067 Principal address Church Office, Sunday School Building Market Place Colyton Devon EX24 6JS Independent examiner Mr J L Coombs MA (Cantab) FCA Simpkins Edwards LLP Michael House Castle Street Exeter Devon EX4 3LQ Bankers Lloyds Bank Trinity Square Axminster Devon EX13 5AL CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

LEGAL AND ADMINISTRATIVE INFORMATION

Investment advisors

CCLA Investment Management Limited Senataor House 85 Queen Victoria Street London EC4V 4ET

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 Parochial Church Council of the Ecclesiastical Parish of St Andrew, Colyton Devon (Colyton Parochial Church Council) has the responsibility of cooperating with the incumbent, the Reverend Dr Steven Martin, in promoting the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of St Andrew’s Church, Colyton, St Michaels Chapel of Ease, Colyford and the properties known as Tysons, and the Sunday School Building. Since 2019 the PCC have also rented a retail outlet in Colyton in order to run a charity shop, known as The Lantern.

The PCC is committed to enabling as many people as possible to worship in our churches and to become part of both our parish and the Holyford Mission Community. The PCC maintains an overview of this worship and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

When planning activities for the year, we have considered public benefit and have tried to enable people to live out their faith through:

To facilitate this work it is important that we maintain the fabric of the buildings we are responsible for and make plans for their future.

The PCC have complied with their duty in section 17(5) of the 2011 Charities Act to have due regard to the Charity Commission guidance with regard to public benefit.

However due to the ongoing COVID-19 crisis, the churches and their associated activities continued to be restricted in many ways. The knock-on effect continued the setback to the PCC’s objectives and sources of income. The PCC would again like to express its sincere gratitude to those individuals who responded to the crisis with both practical and financial help.

Members of the PCC sit on both the Holyford Mission Community Council and the Honiton Deanery Synod. This provides the PCC with an important link between the parish and the wider structures of the church.

The PCC also supports the vision and strategy of the Exeter Diocese. We seek to be people who together are growing in prayer, making new disciples and serving the people of Devon with joy.

We would like to thank all the volunteers who work so hard to make our church communities what they are, in many and varied roles, including those who work in The Lantern Shop. The support of both the Friends of St Andrews and St Michaels is also much appreciated. The PCC relies on all of its volunteers continuing to give their time and talents in order to pursue all its work. New volunteers are always welcome.

Financial review

Total incoming resources were £161,519 (2020: £210,280) and total resources expended were £148,830 (2020: £175,294) giving net income of £32,220 (2020: £35,695 surplus) before the revaluation of investments. Full details are as detailed in the financial statements.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

In response to its previously noted diminishing reserves, the PCC in 2020 began a detailed review of all its finances, which includes the intention to rebuild reserves. This work continued in 2021, including an agreed budget and the formation of a financial taskforce. The taskforce has identified that the Treasurer role is large and complex to the point the current office holder cannot reasonably be expected to provide the forecasting and strategic plan required. With PCC agreement they continue to review, including: benchmarking against other parishes, streamlining the information flows needed for book keeping, budgeting and other duties of the Treasurer, reviewing alternative finance software. The PCC records its thanks to Adrian Harris (FCCA) and Richard Yarlott (FCA CF1) for volunteering to spearhead the taskforce.

The PCC is also aware that for the third year in succession it has been unable to pay its Common Fund contribution in full. The shortfall now totals £110,914 (2019: £20,000, 2020: £45,030 and 2021: £45,884). This balance is not shown within the liabilities in the accounts; however, we have included an accrual for the budgeted amount to be paid in 2022.

Risk

The PCC have given consideration to the major risks to which the parish is exposed and confirm that systems have been established to reduce those risks.

Structure, governance and management

The trustees who served during the year and up to the date of signature of the financial statements were: A Sansom P J Ambler (Completed term 30 April 2021) S H Pither (Completed term 30 April 2021) C O P Sansom V Mills D J Fouracre J V Hoare (Completed term 30 April 2021) D Y Franklin (Resigned 30 June 2021) J Dayment T J White Revd Dr S Martin F Dunster M King C King S Selby M Bremridge J Dauncey R Griffin N Winter (Resigned 30 June 2021) F Watton H Long (Appointed 01 May 2021) W M Brooks (Appointed 01 May 2021)

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements & performance: Structure, Governance & Management.

The method of appointment of PCC members is set out in the Church Representation Rules. All members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. The full PCC met six times during the year and has a good level of attendance. Given its wide responsibilities the PCC has some sub groups and committees each dealing with a particular aspect of parish life. These are all responsible to the PCC (PCC members sit on all of them) and they report back to it regularly with minutes of their decisions and recommendations being received by the full PCC and discussed as necessary. A summary of these committees’ work, objectives, activities, achievements and performance are published as a separate document and available in either electronic or paper form at the time of the annual meeting.

St Andrews Church Colyton and St Michaels Chapel of Ease Colyford are part of the Diocese of Exeter within the Church of England. The correspondence address is The Church Office, Sunday School Building, Market Place, Colyton, Devon EX24 6JS. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2020) and a charity (Registration number 1129067).

PCC Members as at 31 December 2021 are as follows: S Martin, C Sansom, D Fouracre, V Mills, T White, F Dunster, M King, C King, S Selby, MG Bremridge, J Dauncey, R Griffin, F Watton, W Brooks, H Long, J Dayment & A Sansom.

The trustees' report was approved by the Board of Trustees.

C O P Sansom Trustee Dated: 27 April 2022

D J Fouracre

Trustee Dated:27 April 2022

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

I report to the trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St Andrew, Colyton, Devon (the charity) for the year ended 31 December 2021.

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:

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.

Mr J L Coombs MA (Cantab) FCA

for and on behalf of Simpkins Edwards LLP

Michael House Castle Street Exeter Devon EX4 3LQ

Dated: 18 October 2022

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
2
109,049
680
Charitable activities
3
51,456
-
Investments
4
96
238
Total income
160,601
918
Expenditure on:
Charitable activities
5
132,216
79
Other
6
16,535
-
Total expenditure
148,751
79
Net gains/(losses) on
investments
10
18,371
1,160
Net incoming resources
before transfers
30,221
1,999
Gross transfers between
funds
-
-
Net movement in funds
30,221
1,999
Fund balances at 1 January
2021
420,209
55,638
Fund balances at 31
December 2021
450,430
57,637		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
109,729
151,698
21,265
51,456
36,865
-
334
375
77
161,519
188,938
21,342
132,295
163,341
418
16,535
11,535
-
148,830
174,876
418
19,531
165
544
32,220
14,227
21,468
-
13,565
(13,565)
32,220
27,792
7,903
475,847
392,417
47,735
508,067
420,209
55,638		 Total
2020
£
172,963
36,865
452
210,280
163,759
11,535
175,294
709
35,695
-
35,695
440,152
475,847

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

All income and expenditure derive from continuing activities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Tangible assets
11
Investment properties
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds		 2021
£
936
188,719
189,655
(66,047)
57,637		 £
6,750
365,336
12,373
384,459
123,608
508,067
57,637
450,430
508,067		 2020
£
1,010
117,441
118,451
(26,882)
55,638		 £
8,100
365,336
10,842
384,278
91,569
475,847
55,638
420,209
475,847

The financial statements were approved by the Trustees on 27 April 2022

C O P Sansom D J Fouracre Trustee Trustee

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

The Parochial Church Council of the Ecclesiastical Parish of St Andrew, Colyton, Devon is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Church Office, Sunday School Building, Market Place, Colyton, Devon EX24 6JS. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2017).

1.1 Accounting convention

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

The financial statements have been prepared under the historical cost convention, modified 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 offerings, donations and gifts and other income received or generated for the objects of the charity, without further specified purposes, and are available as general funds.

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.

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.

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.

The Parochial Church Council operates a charity shop, 'The Lantern' in Market Square, Colyton receiving donated goods (clothing, household goods, small electrical items, toys, books and smaller items of furniture). Donated goods are accounted for in incoming resources on sale when the benefit to the PCC can be reasonably quantified and measured. The Lantern is entirely staffed by volunteers being managed by the Parochial Church Council.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

Interest is accrued. All other income is recognised when receivable. All incoming resources are accounted for gross.

1.5 Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. All expenditure has been classified under headings that aggregate all costs related to that category.

The Diocesan Common Fund is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross.

1.6 Tangible fixed assets

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

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

Plant and equipment

Straight line over 10 years

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 the statement of financial activities.

Consecrated and benefice property is not included in the financial statements in accordance with s.96(2)(a)of the Charities Act 2011.

Moveable church furnishings held by the Rector and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church inventory and can be inspected (at any reasonable time).

The only fixed asset referred to in these financial statements is the organ at St Michaels Chapel of Ease, Colyford.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year.

1.8 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.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

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.

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 payments 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.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
30,150
680
Legacies receivable
7,499
-
Planned giving
38,583
-
Collections and other
giving
20,143
-
Other
12,674
-
109,049
680		 Total
Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
30,830
72,321
80
7,499
-
20,560
38,583
38,747
-
20,143
22,958
-
12,674
17,672
625
109,729
151,698
21,265		 Total
2020
£
72,401
20,560
38,747
22,958
18,297
172,963

Within Gifts and Donations is £29,240 (2020: £65,864) received from 'Friends of St Andrews' is in respect of heating, lighting and bell projects.

3 Charitable activities

Charitable Charitable
Income Income
2021 2020
£ £
Magazine/bookstall 6,169 2,533
Events 2,855 393
Parochial fees 5,957 3,123
Church office printing 502 461
The Lantern charity shop 21,226 12,065
Charitable rental income 5,650 5,040
Grant income 9,097 13,250
51,456 36,865

4 Investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Income from listed
investments 96 238 334 375 77 452

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Charitable activities

Charitable
Charitable
Expenditure Expenditure
2021 2020
£ £
Depreciation and impairment 1,350 1,350
Diocesan Common Fund 44,247 44,547
Church running expenses 23,915 12,496
Church utilities 7,162 6,360
Clergy and reader expenses 1,741 2,121
Cost of services 7,650 6,074
Repairs to church property 35,637 77,726
Salaries and support costs 5,530 5,530
Training and children's activities 2,932 5,008
Miscellaneous expenditure 1,042 713
131,206 161,925
Grant funding of activities (see note 7) 1,089 1,834
132,295 163,759
Analysis by fund
Unrestricted funds 132,216 163,341
Restricted funds 79 418
132,295 163,759

6 Other

Unrestricted
funds
2021
Administration
9,930
Fundraising expenses
5,543
Professional fees
1,062
16,535		 Total
2020
£
5,725
4,000
1,810
11,535

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Grants payable

Charitable
Charitable
Expenditure Expenditure
2021 2020
£ £
Grants to institutions:
Other 1,089 1,834

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Clergy were reimbursed for any expenditure incurred on behalf of the Parochial Church Council.

9 Employees

The average monthly number of employees during the year was:

There were no employees whose annual remuneration was
Net gains/(losses) on investments
Unrestricted
Restricted
funds
funds
2021
2021
£
£
Revaluation of
investments
371
1,160
Gain/(loss) on sale of
investment properties
18,000
-
18,371
1,160		 2021
2020
Number
Number
1
1
more than £60,000.
Total
Unrestricted
Restricted
Total
funds
funds
2021
2020
2020
2020
£
£
£
£
1,531
165
544
709
18,000
-
-
-
19,531
165
544
709		 2021
2020
Number
Number
1
1
more than £60,000.
Total
Unrestricted
Restricted
Total
funds
funds
2021
2020
2020
2020
£
£
£
£
1,531
165
544
709
18,000
-
-
-
19,531
165
544
709
Total
2020
£
709
-
709

10 Net gains/(losses) on investments

Following the sale of St Andrews Hall in a previous accounting period, it was discovered by the Parochial Church Council that the right of access to the property had not been sold with the property itself. The sale of such a right of access, an 'easement', has a value. The £18,000 gain seen above is the value settled on and received in the year.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

11 Tangible fixed assets
Plant and equipment
£
Cost
At 1 January 2021 13,500
At 31 December 2021 13,500
Depreciation and impairment
At 1 January 2021 5,400
Depreciation charged in the year 1,350
At 31 December 2021 6,750
Carrying amount
At 31 December 2021 6,750
At 31 December 2020 8,100

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

12 Investment property

Investment property
2021
£
Fair value
At 1 January 2021 and 31 December 2021 365,336

The investment properties belonging to the PCC have been included at a historic valuation plus additions and comprise:

· Tysons £105,346
· Sunday School building £259,990

The investment properties were last valued in 2013 and the PCC deem this valuation correct as at 31 December 2021.

13 Fixed asset investments

Cost or valuation
At 1 January 2021
Valuation changes
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020
14
Debtors
Amounts falling due within one year:
Other debtors
15
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 Listed
investments
£
10,842
1,531
12,373
12,373
10,842
2021
2020
£
£
936
1,010
2021
2020
£
£
44,248
4,547
21,799
22,335
66,047
26,882		 Listed
investments
£
10,842
1,531
12,373
12,373
10,842
2021
2020
£
£
936
1,010
2021
2020
£
£
44,248
4,547
21,799
22,335
66,047
26,882
12,373
12,373
10,842
2020
£
1,010
2020
£
4,547
22,335
26,882

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

16 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 Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources **Transfers ** Revaluations, Balance at Incoming Resources Revaluations, Balance at
1 January resources expended gains and 1 January resources expended gains and 31
2020 losses 2021 losses December
£ £ £ £ £ £ £ £ £ 2021
£
Colyton PCC 13,565 - - (13,565) - - - - - -
Choir Bursary fund 19,443 640 (60) - 544 20,567 918 (79) 1,160 22,566
Organ fund 13,072 - - - - 13,072 - - - 13,072
Charity of James How 709 77 - - - 786 - - - 786
Mission Community Childrens
Fund 946 - (358) - - 588 - - - 588
Music fund - 20,625 - - - 20,625 - - - 20,625
47,735 21,342 (418) (13,565) 544 55,638 918 (79) 1,160 57,637

Following investigation the PCC determined that the Colyton PCC restricted fund could be transferred to unrestricted funds as the historical restriction on the use of the funds no longer existed. This transfer was completed in the year ended 31 December 2020.

The Choir Bursary fund is held to provide assistance towards members of St Andrew's Choir.

The Organ fund represents funds given towards the repair of the organ at St Andrew's.

The Mission Community Children's Fund represents those funds provided towards children's work in the Mission Community.

The Music fund represents an 'In memoriam' gift towards music at St Andrews

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST ANDREW, COLYTON, DEVON

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

17
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31
December 2021 are
represented by:
Tangible assets
6,750
-
Investment properties
365,336
-
Investments
3,018
9,355
Current
assets/(liabilities)
75,326
48,282
450,430
57,637		 Total
Unrestricted
funds
Restricted
funds
2021
2020
2020
£
£
£
6,750
8,100
-
365,336
365,336
-
12,373
2,647
8,195
123,608
44,126
47,443
508,067
420,209
55,638		 Total
2020
£
8,100
365,336
10,842
91,569
475,847