2021-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of Penn Street With Holmer Green

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REGISTERED CHARITY NUMBER 1129329

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2021

Dashwoods Accountants Limited 31 Dashwood Avenue High Wycombe Bucks HP12 3DZ

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

INDEX TO THE FINANCIAL STATEMENTS

	Page
Report of the Trustees	1 to 5
Report of the independent examiner	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9 to 12
Detailed statement of financial activities	13 to 14

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 1129329

Principal address

The Parish Office The Church Centre Featherbed Lane, Holmer Green High Wycombe Buckinghamshire HP15 6XQ

Page 1

REFERENCE AND ADMINISTRATIVE DETAILS Trustees

The members who served the PCC during the year were as follows:

Incumbent	The Reverend Ruth Atkinson	Chairman
Wardens	Mr Robert Duerdoth
	Mr Michael Batchelor	Vice-Chairman
	(Stepped down April 2021, became elected	member)
Representatives on the
Deanery Synod:-	Mrs Judy Knight	Secretary
	Mrs Carol Hornsby
	Mrs Joan Wainman
Elected members:-	Mrs Jean Batchelor
	Mr Michael Curry (stepped down April 2021)
	Mr Michael Large
	Mr Leigh Potkin	Treasurer
	Mr Jim Murray (stepped down April 21)
	Mrs Joan Toye
	Mrs Mary Jay
	Mrs Linda Snowden (stepped down Oct 2021)
	Mrs Ann Sollars (from April 2021)
	Mr Steve Busler (from April 2021)

Page 2

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document

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

Penn Street with Holmer Green Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent in promoting in the ecclesiastical parish the whole mission of the church; pastoral, evangelical, social and ecumenical. The PCC also has the responsibility for the maintenance of Holy Trinity church building, at Penn Street, and the building of Christ Church, Holmer Green, together with the Church Centre and the land that formerly contained Parsonage House, also at Holmer Green.

Recruitment and appointment of new trustees

Members are elected to the PCC at the Annual Parochial Church Meeting.

Induction and training of new trustees

No formalised system of training is currently provided but training for specific duties is provided on an ad-hoc basis as required for example, safe-guarding requirements.

Organisational structure

The full PCC met nine times during the year.

The Standing Committee, which did not meet during the year, is authorised by the PCC to transact the business of the PCC between its meetings, subject to any directions given by the Council.

Risk Management

The trustees have a duty to identify and review the risks to which the PCC is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

It is confirmed that the major risks in connection with the church and its activities, as identified by the PCC, have been reviewed and appropriate actions or procedures have been established to manage those risks.

Buildings, contents and liability insurance are in place with the Ecclesiastical Insurance Group.

Page 3

OBJECTIVES AND ACTIVITIES

Public Worship

Due to the Covid-19 pandemic, in-person public worship continued to be suspended until April 2021. In-person services resumed on Easter Sunday, being recorded and made available on-line.

There is one service each Sunday, alternating between the buildings and style of worship All Age services resumed in January 2021, initially on-line and in-person along with other in-person services. Led by a team supporting the Priest-in-Charge, these services have continued monthly

There were services celebrating Easter and Christmas, with a Carol Service and Christingle service. Weddings, funerals and baptisms have also resumed this year

Church attendance

Attendance for worship services has been an average of 40 people each Sunday Mid-week ministries resumed meeting once restrictions allowed

The other regular groups of the church are now starting to meet following the pandemic.

There are currently 87 people on the electoral roll, of which 53 live in the parish.

Activities

There have been several social and outreach activities this year - either on-line or in-person depending on restrictions due to the pandemic. These include family socials, church family BBQ, Chrstmas Tree Festival outreach, quizzes, Summer Social.

There has been on-line Bible Study, coffee mornings and Lent Course

ACHIEVEMENT AND PERFORMANCE

Fund-raising activities .

Cream Teas were able to resume in the Summer although we were unable to resume hire of the buildings which dramatically impacted our finances. People were encouraged to increase regular giving, which they generously responded to.

We are working towards trying to rely less on fund raising and seek other ways to generate income.

Penn Street Village were able to contribute towards the Holy Trinity electric repairs.

Fundraising commenced for the replacement boiler which is due to be replaced in the Church Centre in 2022. The majority has been provided by generous individual donations.

Page 4

PUBLIC BENEFIT

The trustees consider that due regard has been taken in relation to guidance published by the Charity Commission on public benefit.

FINANCIAL REVIEW

Reserves policy

It is the policy of the parish to maintain the reserves at a level that will help it underpin its longterm commitments and to allow it to continue its core activities. The trustees regularly assess the incoming resources profile and endeavour to maintain reserves to cover annual outgoing resources of approximately £100,000 for the foreseeable future in the event that incoming funds become uncertain. This has been another exceptional year and our income has not yet recovered to prepandemic levels. The Trustees have had to use further reserves to make up for the loss of income.

Principal funding sources

Regular giving rose by over 10% this year, the majority of people give regularly through the Parish Giving website. Our overall income rose by over £11,000 to £94,243 for the year. Approximately £5,000 of this was money raised for the new Church Centre boiler. Expenditure was approximately £13,000 lower than the previous year. This is due to there being no expenditure for the previously demolished Parsonage House.

The local parish councils continue to provide valuable support with grants to aid the upkeep of the churchyards. The care of the general grounds is carried out by a small team of parishioners at Holmer Green. We continue to employ a contractor for the upkeep at Penn Street and this now includes the grass cutting at Holmer Green.

In this time of financial difficulties the PCC is committed to carefully managing costs so that we are able to continue to provide support to worthy causes and to further the work of the church in the local area. The Parish Share was again paid in full this year despite our financial challenges and there being a total deficit of £3,253 (£27,265 for the previous year) for the year. The PCC made only modest charitable donations in 2021.

FUTURE DEVELOPMENTS

The plans to redevelop grounds at Holmer Green are moving forward and continue to be managed by the Diocese

Future developments may include the upgrading of the sound and acoustic systems and renovating the Church Centre when funds allow.

Page 5

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

INDEPENDENT EXAMINER'S REPORT

I report on the accounts for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes to the Financial Statements.

Respective responsibilities of the trustees and the examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

It is my responsibility to:

examine the accounts under section 145 of the 2011 Act;
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
to state whether particular matters have come to my attention.

Basis of this report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of 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 statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:-

(1) which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the 2011 Act; and - to prepare financial statements, which accord with the accounting records and comply with the requirements of the 2011 Act and the Regulations. have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

P E Rackstraw FCCA

Dashwoods Accountants Limited

31 Dashwood Avenue High Wycombe Bucks

HP12 3DZ ……………………… Date…………………….

Page 6

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2021

Restricted Funds £ 5,704 700 0 0 0 6,404 0 1,968 0 17 1,984 4,420 0 (630) 3,790 0 3,790	2021 Total Funds £ 75,592 5,767 5,633 6,666 684 94,342 339 96,200 910 147 97,595 (3,253) 0 0 (3,253) 464,491 461,238	2020 Total Funds £ 67,436 3,184 4,125 2,676 5,551
		82,972
		185 109,298 720 35
		110,237
		(27,265) 0 0
		(27,265) 491,756
3,790	461,238	464,491

CONTINUING OPERATIONS

All incoming resources and resources expended arise from continuing activities.

Page 7

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

BALANCE SHEET AS AT 31 DECEMBER 2021

Restricted Funds £ 0 0 0 3,790 3,790 0 3,790 0 3,790 3,790 3,790	2021 Total Funds £ 470,000 470,000 787 8,244 9,031 711 8,320 17,082 461,238 457,448 3,790 461,238	2020 Total Funds £ 470,000
		470,000
		0 12,120
		12,120 547
		11,573
		17,082
		464,491
		464,491 0
3,790	461,238	464,491

The financial statements were approved by the Board of Trustees on…………….and were signed on its behalf by:-

Mr L Potkin - Trustee Mrs C Hornsby - Trustee

The notes on pages 9 - 14 form an integral part of these accounts.

Page 8

1 ACCOUNTING POLICIES

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

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

a) Basis of accounting

These accounts have been prepared on the basis of the historical cost basis of accounting in accordance with the Statement of Recommended Practice 2005 and the Charities Act 2011. There has been no change to the accounting policies since last year.

b) Voluntary income

Collections are recognised when received by or on behalf of the PCC. The gift aid tax that is reclaimable on these donations is recognised in the reserves to which they relate when the tax rebate is received into the bank account.

c) Income from investments

Dividends are accounted for when due and payable, and interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised only when received.

d) Grants

Grants are recognised when paid or received.

e) Other income

Funds raised by events are accounted for gross.

Rental income from the letting of church premises is recognised when the rental is due. Sales of books etc. from the church bookstall are accounted for gross.

f) Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings which aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources.

Costs of generating funds are those costs incurred in fundraising to seek voluntary donations.

Charitable activities are grants made and costs incurred directly in the support of expenditure on the charity's objectives and include project management carried out from the charity's premises.

Governance costs include those incurred with the governance of the charity and its assets and are primarily associated with the compliance of constitutional and statutory requirements.

g) Activities directly relating to the work of the church

The diocesan parish share is accounted for when paid. Any parish share unpaid at the year end is not provided for in these financial statements as a liability on the balance sheet.

h) Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment straight line 25% Fixtures & fittings straight line 25%

Individual items of equipment with a purchase price of less than £2000 are written off when the asset is acquired.

Page 9

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

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

i) Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the accounts by s10(2)(a) of the Charities Act 2011.

No value is placed on moveable church furnishings which are held by the churchwardens on special trust for the PCC. These require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvements, is written off as expenditure in the statement of financial activities and separately disclosed.

j)

Other land and buildings

The Church Centre, Holmer Green is valued at its historical cost. The land that formerly contained Parsonage House is shown at its estimated market value. No depreciation is charged on either.

k) Taxation

The PCC is exempt from tax on its charitable activities.

l)

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the PCC for a particular purpose. The cost of raising and administering such funds is charged against the unrestricted reserve.

m)

Realised and unrealised gains

Unrealised gains and losses arise when fixed asset investments are included in the balance sheet at revalued amounts or market value. They are included in the statement of financial activities as an incoming resource or additional depreciation as appropriate in the period they arise. Realised gains and losses are recognised when an asset is disposed of.

2

3

ACTIVITIES FOR GENERATING FUNDS Cream teas Bookstall Fundraising social events INVESTMENT INCOME Church Centre lettings Holy Trinity lettings Bank interest	2021 £ 2,317 609 1,800 4,725 2021 £ 5,633 0 0 5,633	2020 £ 0 430 2,754
		3,184
		2020 £ 3,847 250 29
	5,633	4,125

4 TRUSTEES' REMUNERATION AND BENEFITS

None of the trustees receive any remuneration from the PCC.

Page 10

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

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

5 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST At 1 January 2021 and 31 December 2021 DEPRECIATION At 1 January 2021 and 31 December 2021 NET BOOK VALUE As at 31 December 2021 As at 31 December 2020	Freehold Fixtures & Totals Property Equipment Fittings £ £ £ £ 470,000 0 980 470,980
	0 980 980
	470,000 0 0 470,000

	470,000 0 0 470,000

The net book value of freehold property at the current and prior year balance sheet date is made up of £345,000, being the carrying value of the Church Centre, and the £125,000, being the carrying value of the land that Parsonage House once occupied.

It is not practicable to quantify the difference between the carrying value and market values but in the trustees' opinion the market values are not significantly different from the carrying values shown within the accounts.

6 DEBTORS - AMOUNTS FALLING DUE WITHIN ONE YEAR


DEBTORS - AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors CREDITORS Creditor amounts falling due within one year Loans from Diocese Total Creditors	2021 2020 £ £ 787 0
	2021 2020 £ £ 711 547 17,082 17,082
	17,793 17,629

7

There is no interest payable on the loans owed to the Diocese and no fixed repayment schedule. Repayment is due upon the redevelopment and subsequent sale of property on the land that once was Parsonage House.

Page 11

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

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

DONATIONS AND GRANTS TO CHARITIES 2021

PCC 2021 Leprosy Mission Janice Jose (Rennie Grove) Mike Jose (Rennie Grove) Nigel Stowe (Send a Cow) Total donations by PCC in 2021	Overseas Home Secular Other Total DonationsDonations Donations DonationsDonations £ £ £ £ £ 16.5 30 50 50	Overseas Home Secular Other Total DonationsDonations Donations DonationsDonations £ £ £ £ £ 16.5 30 50 50	Overseas Home Secular Other Total DonationsDonations Donations DonationsDonations £ £ £ £ £ 16.5 30 50 50	Overseas Home Secular Other Total DonationsDonations Donations DonationsDonations £ £ £ £ £ 16.5 30 50 50	Overseas Home Secular Other Total DonationsDonations Donations DonationsDonations £ £ £ £ £ 16.5 30 50 50
	67	80	0	0	0

The following were paid directly from groups within the church:

250 250	250 250	250 250	250 250	250 250
0	0	0	250	250

67	80	0	250	250

Page 12

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2021

10 INCOMING RESOURCES

Restricted Funds £ 0 0 0 0 5,704 0 5,704 0 0 0 700 700 0 0 0 0 0 0 0 0 0 0 6,404	2021 Total Funds £ 51,352 11,723 0 383 12,134 0 75,592 342 2,317 609 2,499 5,767 5,633 0 0 0 0 5,633 1,050 5,616 6,666 684 94,342	2020 Total Funds £ 45,638 14,759 0 1,079 5,961 0
		67,436
		0 0 430 2,754
		3,184
		3,847 250 29 0 0
		4,125
		250 2,426
		2,676

		5,551

6,404	94,342	82,972

Page 13

THE PARISH OF PENN STREET WITH HOLMER GREEN PCC

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2021

11 RESOURCES EXPENDED

Unrestricted Restricted Funds Funds £ £ Costs of generating voluntary income Bookstall expenditure 339 0 Charitable Activities Insurance 5,648 0 Parish share 68,296 0 Church running expenses 1,335 0 Assistant staff expenses 0 0 Upkeep of churchyard 0 0 Church Centre running costs 7,919 980 Parsonage House upkeep 0 0 Fees to ODBF 955 0 Upkeep of services 646 0 Christ Church maintenance 1,101 0 Holy Trinity maintenance 3,614 988 Honoraria 0 0 Working expenses of the incumbent 4,703 0 Fundraising 16 0 Youth club 0 0 Social activities 0 0 94,232 1,968 Governance Costs Accountancy 900 0 Bank charges 10 0 910 0 Other resources expended Overseas missions 50 17 Christian relief and development 0 0 Home missions and church societies 80 0 Secular charities 0 0 Loan account 0 130 17 Total resources expended 95,611 1,984	2021 Total Funds £ 339 5,648 68,296 1,335 0 0 8,899 0 955 646 1,101 4,602 0 4,703 16 0 0 96,200 900 10.12 910 67 0 80 0 0 147 97,595	2020 Total Funds £ 185 5,135 68,344 1,286 0 0 5,825 21,260 637 739 433 2,556 0 3,077 0 6 0
		109,298
		720 0
		720
		34.5 0 0 0 0
		35

	97,595	110,237

Page 14