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2020-12-31-accounts

THE PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ending 31[st] December 2020

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

CONTENTS

1 INTRODUCTION......................................................................................................................................................................................................... 2
2 AIM & PURPOSE 3 OBJECTIVES & ACTIVITIES............................................................. 2
4 ACHIEVEMENTS AND PERFORMANCE................................................................................................................................................................ 4
4.1
St Matthew’s CEVAP School ..................................................................................................................................................................... 6
4.2 Electoral Roll Figures / Usual Sunday Attendance ................................................................................................................................... 7
5 FINANCIAL REVIEW.................................................................................................................................................................................................... 7
5.1 Reserves .................................................................................................................................................................................................................. 8
5.2 Investments ........................................................................................................................................................................................................... 8
5.3 Risks and Uncertainties ..................................................................................................................................................................................... 8
6 REFERENCE AND ADMINISTRATION DETAILS................................................................................................................................................... 8
6.1 Parish Name and Location ............................................................................................................................................................................... 8
6.2 Charitable Status and related trusts and organisations ........................................................................................................................ 9
6.3 PCC Members and Officers .............................................................................................................................................................................. 9
6.4 Bankers, Legal advisors & Independent Examiners ............................................................................................................................... 10
7 STRUCTURE GOVERNANCE AND MANAGEMENT........................................................................................................................................ 10
8 PUBLIC BENEFIT........................................................................................................................................................................................................ 11
9 RESPONSIBILITIES OF THE MEMBERS OF THE PCC...................................................................................................................................... 11
10 TRUSTEE DECLARATION...................................................................................................................................................................................... 11
11. STATEMENT OF FINANCIAL ACTIVITIES........................................................................................................................................................ 12
12. PCC BALANCE SHEET........................................................................................................................................................................................... 12
13. STATEMENT OF CASHFLOWS............................................................................................................................................................................ 13
14. NOTES TO THE FINANCIAL STATEMENTS..................................................................................................................................................... 14
14.1 Accounting Policies ......................................................................................................................................................................................... 14
14.2 Income and Endowments............................................................................................................................................................................. 17
14.3 Expenditure ....................................................................................................................................................................................................... 18
14.4 Staff Costs.......................................................................................................................................................................................................... 20
14.5 Related Party Transactions .......................................................................................................................................................................... 20
14.6 Fixed Asset ........................................................................................................................................................................................................ 21
14.7 Debtors ............................................................................................................................................................................................................... 21
14.8 Liabilities ............................................................................................................................................................................................................ 22
14.9 Unrestricted Funds ......................................................................................................................................................................................... 22
14.10 Restricted Funds ........................................................................................................................................................................................... 23
14.11 Endowment Funds ....................................................................................................................................................................................... 24
14.12 Commitments ................................................................................................................................................................................................ 24
14.13 Investments .................................................................................................................................................................................................... 24
14.14 Reconciliation Of Net Movement In Funds To Net Cashflow From Operating Activities ................................................... 25
14.15 SOFA Comparatives .................................................................................................................................................................................... 26
14.16 Balance Sheet Comparatives ................................................................................................................................................................. 27
14.17 Unrestricted Funds (prior year movements) ....................................................................................................................................... 28
14.18 Restricted Funds (prior year movements) ............................................................................................................................................ 29
14.19 Endowment Funds (prior year movements) ........................................................................................................................................ 30

INDEPENDENT EXAMINER’S REPORT TO THE PCC OF ST MATTHEW, TRIANGLE AND ALL SAINTS, IPSWICH ...... 31

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

1 INTRODUCTION

The aim of the report is to review the life of the parish during 2020, as well as relating the financial statements to the work and vision of St Matthew’s, Triangle and All Saints Churches.

2 AIM & PURPOSE 3 OBJECTIVES & ACTIVITIES

St Matthew’s, Triangle and All Saints Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, the Reverend Nick Atkins, in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical (PCC Measure 1956). The PCC is also responsible for the maintenance of the buildings of St Matthew’s Church, The Fletcher Centre, All Saints Church and church hall, the Living Water premises, and the Triangle Community Centre.

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Objectives & Activities
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The Five Marks of Mission are an important statement on mission which expresses the Anglican Communion’s common commitment to, and understanding of, God’s holistic/integral mission. They are:

Our Parish Vision Statement:

The individual church mission statements are:

‘We are churches of all ages drawn from different nationalities and we worship and seek to minister in three very distinct areas with their different needs. As congregations we are united in proclaiming the importance of knowing Jesus Christ as our personal Lord and Saviour. We desire to deepen our faith and encourage each other in our walk of whole-life discipleship and are determined to grow to know and trust Jesus more, and to serve him together on our ‘frontlines’ (the places where we spend the majority of our time during the week). We do all this for Jesus’ glory in this part of Ipswich working where possible with fellow believers from different Christian denominations.

St Matthew’s -

“Preparing all generations to impact lives for Christ.”

Triangle -

“Showing the way, telling the truth, living the life.”

Living Water-

All Saints -

“To know Jesus, to be like Jesus and to make him known.”

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

The three churches provide a variety of activities both to their membership and to the public community in order to fulfil our mission and vision:

Opportunities for friendship, Christian support and learning through:

Provision of public worship and Holy and learning through: Communion, with age-appropriate o Home groups, teaching for children and young o Youth groups for children and people through all-age services, young people, Sunday school and youth groups. o Parent toddler group, Also, services for seniors and Messy o Men’s group and ladies group, o Other support groups including Church for families as well as services Coffee Break for English language in care homes and assemblies in conversation, schools, and opportunities for prayer. o Events and courses to explore and Christian weddings, funerals and deepen Christian faith e.g. Alpha. baptisms.

We give 10% of income each year to Christian mission and social action projects at home and abroad.

Additionally, we provide:

Safeguarding

The church operates systems to ensure that all church members working with children, young people and vulnerable adults are appropriately vetted with regard to the DBS service. Arrangements are in place for all such people to receive suitable training for their roles in the church.

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

4 ACHIEVEMENTS AND PERFORMANCE

This year began in January with our parish bidding farewell to friends who were leaving to go with the church plant led by Revd Andy Buttress to form what is now called ‘Bridge Church’. Little did we know then that within a few weeks we would be locked down as a nation facing the present pandemic. This has meant that all three of our churches’ Learning Communities church plans have had to be adjusted to fit with the new situation we face.

It has been so gratifying to see that all our churches have responded to the present challenging situation in creative ways taking services and other missional events online. Each has attempted different things in this season trying to meet both church and non-church people’s needs.

Learning new skills has been the name of the game. Across the parish we are so grateful to those who’ve wonderfully stepped up to the plate to assist in all areas of ministry ranging from pastoral care to using technical expertise. I have to mention how appreciative we are to such folk who’ve helped our churches rise to the challenge. Thank you to everyone for your determination to keep ministry going and make worship accessible to as many as possible each week.

As I mentioned earlier the Inspiring Ipswich desire for all churches to grapple with how missional they are has meant rejigging their individual parish plans. The LYCIG weekend conference at the end of November has inspired our excitement to bring the Gospel to more people.

The 1[st] and 2[nd] lockdowns have been described by some as a wilderness time. I wonder if you have felt as if it has been like that for you? There are three types of people in the wilderness.

  1. Hermits – those who move in from the outside, settle in caves and stay in one place.

  2. Bedouin nomads – those who are always on the move but in a circle.

  3. The Pilgrim – And God never intends for his children to settle in the wilderness as hermits or nomads. We are thus to be this third breed of wilderness person – the pilgrim.

Each wilderness experience becomes a pilgrimage - an experience in which we meet, know and follow God. It always involves change and progress from one stage to another. As we move forward we pass through trouble, adversity, grief, pain and hardships which are all wilderness experiences. But these times are not designed to choke the life from us; rather they are designed to mould us and shape us into the image of Christ Jesus. To keep moving as the Hebrews did is a pilgrim’s duty. Remember in Numbers 9:23 “...at the Lord’s command they encamped, and at the Lord’s command they set out.”

Time after time God demanded that they stop their grumbling and fasten their eyes on him, rather than look always at the less than perfect circumstances.

As we continue our journey into 2021 still filled with uncertainties God asks the same of us. Let us determine to be pilgrims, not leaning on our own understanding but trusting God to direct our footsteps, our paths. One Jewish archaeologist said that they ‘worship a God who is on the move.’ Well, so do we, and he asks that we follow keeping our eyes firmly fixed on him.

Rector: Rev. Canon Nick Atkins

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

The year 2020 was a year unlike any we’ve ever seen—for our churches and our nation. A worldwide pandemic hit, and everything changed: our schedules, the way we work and go to school, how we live, how we shop, and even how we go to church. It was a year of unprecedented change and learning how to do things differently. For many people, last year was much more than just an inconvenience. Some lost income from employment and others from their businesses, some were sick, and, sadly, some died. Many were significantly affected by COVID-19.

We also experienced racial tensions in our country sparked by the death of George Floyd in America. This brought our attention to the inequalities we need to work on and showed us more than ever that the body of Christ needs to lead the way to unity and reconciliation. The leaders of our Churches and others across the town of Ipswich signed a document to reaffirm our commitment to eradicating all forms of racism in all parts of society because every human life is precious and honoured by God.

Weddings, baptisms, and other special events were cancelled or postponed. Friends from Bridge Church who set off with the church plant were not able to physically meet at their new premises with the frequency they originally anticipated. Many across the PCC dealt with fear and anxiety about the future. Fortunately, two weddings were able to take place albeit scaled down and adhering to the government guidelines at the time.

While 2020 wasn’t the year any of us hoped for, there were some great things that came from it. It showed all of us we could slow down a little more. We learned we don’t have to constantly be on the go and busy all the

time. We spent more time together as families—walking and riding bikes, playing games, and spending quality time with one another.

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ST MATTHEW’S HAVE 115
SUBSCRIBERS ON YOUTUBE
WITH AN AVERAGE OF 148
VIEWS
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St Matthew’s, Triangle & All Saints (plus Living Water) and Bridge Church (which has continued to remain part of our PCC) worked incredibly hard to maintain contact, via social media, emails, online messy church, other groups and courses, as well as the usual online Sunday services. We kept everyone involved as best as we could via mailed newsletters (for TRIANGLE HAVE 19

people who are not online) and checked up on people by phone and the occasional doorstop visits. We were also able to reach more people than ever before through technology and our online services, and we learned how to have

meetings online—and what it means when someone says, “ You’re not on mute! ” 2020 also allowed for time to reflect and tidy up things ALL SAINTS HAVE like our individual websites and think about our 101 SUBSCRIBERS social media presence. ON YOUTUBE WITH 78 AVERAGE VIEWS

Our churches grew in 2020 by learning how to help and minister to people WITH 78 AVERAGE more effectively and efficiently. We learned new ways to show love to others and maintained a strong focus on our communities during these times of VIEWS uncertainty. We checked up on the elderly and helped the sick and those in hospitals and nursing homes. St Matthew’s and Triangle have also been running a ‘Pop-up-Shop’ since November 2020, where members of our communities can get a bag of essential food items for £2, with food provided to us by The Basic Life Charity and local supermarkets. St Matthew’s & St Matthew’s Primary School also ran ‘Boxes of Hope’ alongside TLG-

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

Transforming Lives for Good. This is where we sent food parcels to families in need linked to the primary school. We have also maintained links with another local charity FIND - a local food bank - to which a donation from monies received from the Pop-Up-Shop was made at Christmas; and we were able to help people through the Daundy Trust, our Parish Charity, through which we support families within our parish with small financial gifts or with purchases on their behalf.

Some of our paid staff have had to be furloughed through the Government scheme. The Parish Office has fortunately remained open the whole time ‘hybrid style’, with a bit of homeworking and physical presence in order to do certain tasks that cannot be done from home.

For more details about the individual churches and groups please ask to see our year-end review.

4.1 St Matthew’s CEVAP School

St Matthew’s is a vibrant, multicultural school, with a strong and explicit Christian ethos. Our SIAMS report in October 2019 described us as "a shining example of a church school". We are part of the St Edmundsbury and Ipswich Multi Academy Trust and work in partnership with 18 other church schools across Suffolk.

Our curriculum reflects the needs of all pupils and helps them to lead "life in all its fullness". We value children as individuals and aim to recognise their achievements in a wide range of areas. Provision at St Matthew’s ensures there is balance between academic and personal development. It gives equal importance to core and foundation subjects. Spiritual, moral, social and cultural development, together with a structured programme of PSHE, underpins our work. Pupils are encouraged to be good citizens and our church school ethos and Christian values are evident in all that we do.

During the pandemic, we have adapted to meet the needs of our pupils and to comply with government guidelines. We have provided support for the children of key workers and vulnerable pupils throughout this period, and opened fully to all pupils when we were able to. A robust approach to home learning has ensured that children have continued to access education during lockdown, through the use of video clips, online activities and work packs. We have conducted home visits to support families, organised free school meals vouchers and continued to help with issues such as housing, debt, benefits, parenting and settled status. As always, our remit extends beyond the purely academic.

We have two Chaplains, Josh and Mirin, who offer support to the children and staff in school. They help lead collective worship, run a coaching programme and challenge pupils to think about ‘big questions’ relating to life and Christianity.

More information about the school can be found on our website.
www.stmatthewsprimary.co.uk
Thank you for your continued prayers for our school.		 "Whatever you do,
do it with all your
heart".
Colossians 3:23

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

4.2 Electoral Roll Figures / Usual Sunday Attendance

Regular Sunday Attendees 2020: Regular Sunday Attendees 2019:
St Matthew’s: 95 adults 25 children & youth
(6:30pm 14 adults)		 97 adults 25 children & youth
(6:30pm 14 adults)
Triangle: 17 adults 4 children 17 adults 4 children
All Saints: 35 adults 3 children
(9:00am 8 Adults;6:30pm 20 Adults)		 40 adults 6 children
(9:00am 8 Adults;6:30pm 20 Adults)
Electoral Roll 2020 Electoral Roll 2019
St Matthew’s: Non-residents: 124 Residents: 43
Total: 167		 Non-residents: 122 Residents: 43
Total: 165
Triangle: Non-residents: 5 Residents: 13
Total: 18		 Non-residents: 5 Residents: 13
Total: 18
All Saints: Non-residents: 36 Residents: 21
Total: 57		 Non-residents: 37 Residents: 19
Total: 56
Total
for
the
parish:		 243 239

5 FINANCIAL REVIEW

As indicated in Section 14 of this report, end of year results also include Bridge Church figures. The Bridge Church plant happen at the beginning of the year but changing circumstances resulted in their finances continuing to be part of PCC finances, these being restricted in a St Matthew’s Church fund.

Our primary source of income continues to remain donations and legacies, although we also receive income from lettings at the Fletcher Centre, Triangle Community Centre and All Saints Church Hall and the Fletcher Centre flat. There is also a very small proportion of income generated from other general church activities.

In reviewing planned giving for the year, including Bridge Church giving, as a PCC, figures remained relatively similar with a minor decrease of approximately 1% noted compared to last year. Although there was overall reduced gift aided envelope planned giving, this was offset by an observed increase in planned giving via standing orders and other planned giving.

Not being able to meet face-to-face at our regular places of worship resulted in reduced loose plate collections of £6,816 and a further reduced income from other charitable activities such as weddings and funerals, church hall lettings, and lunch club and toddler group of £6,729. Triangle Community Centre lost rental income for most part of the year but did, however, receive two relief grants to the value of £6,334 from Ipswich Borough Council, St Matthew’s Church received a one-off gift donation into general unrestricted funds to the sum of £25,000 in November 2020 to assist with general running costs and All Saints Church received a further legacy residual payment of £115,237 in June 2020 which has been put into an All Saints Church restricted fund.

The refurbished flat at the Fletcher Centre generated an undisrupted income stream, with the accommodation being occupied for the duration of the entire financial year under review. Rental income received from the flat increased by 5% compared to last year. Overall PCC bank income also noticeably increased during the year (£1,689: 2020 vs £71: 2019) mainly due to Fletcher Centre bank accounts moving from RBS to Co-op Bank resulting in a £1,500 compensatory payment from RBS.

General unrestricted fund balance in considering excesses in income and endowments, after expenditure deductions, grew by £21,759 compared to last year. This can be attributed to the combined effect of increased

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

use of restricted funds, increased PCC income from one-off donations and grants, and reduce usual general fund expenditures resulting from sedentary activities. Expenses from unrestricted funds are, nonetheless, generally anticipated to increase as we gradually resume face-to-face worship and other church related activities. Parish Share for the PCC in 2020, including a £25,487 waiver, was £101,575. A sum total of £101,900 was paid towards the PCC parish share by the end of the year.

2020 financial outcomes were in many respects, difficult to anticipate during the year due to the unpredictable nature of actions and responses required at regional levels to combat the pandemic. To effectively navigate finance related concerns, the PCC’s ability to meet ongoing expenditure obligations remained in proactive dialogue throughout the year. Finances were discussed at both PCC and DCC levels and a Finance Sub-Committee is now fully active, where conversations regarding PCC finances further take place. Finance Sub-Committee meetings will continue to take place four times a year from January 2021 onwards.

As the ongoing disruptive effects of COVID-19 are expected to continue in 2021, the PCC will keep finances and other pandemic-related issues of concern under constant review.

5.1 Reserves

It is PCC policy to maintain a balance of unrestricted funds (where possible) which equates to at least two months general running costs, together with sufficient balances on restricted funds to enable premises to be maintained to a satisfactory condition and to enable planned parish activities and initiatives to continue for at least a further six months.

The closing balance of unrestricted and designated funds at the year-end, excluding amounts for fixed assets, was £118,847 (£82,575: 2019) which is well above the required two months reserve limit in considering the PCC’s reserve policy to meet general running costs. Reserve levels are expected to normalise in 2021/2022 as lockdown restrictions begin to ease and we resume usual activities. The main designated funds are for All Saints Hall running, maintenance and refurbishment, Fletcher Centre running and maintenance, and Triangle Community Centre running and maintenance.

Restricted funds now stand at £580,332 (£524,830: 2019). A significant portion of this comprises of the £345,000 legacy received in 2019 at All Saints Church and a further £115, 237 residual legacy payment received during the year. Part of this legacy will help to fund the improvement of facilities for All Saints Church and the Church Hall. There are also restricted funds for St Matthew’s Mission, Youth and the remainder of a legacy bequeathed to St Matthew’s church and Fletcher centre in 2016. Further amounts are restricted in the Bridge Church fund.

5.2 Investments

The policy of the PCC is to maximise interest by investing any surplus funds in short term cash deposits, whilst ensuring that funds are readily available when needed to meet the PCC’s monthly operating expenses.

5.3 Risks and Uncertainties

Major risks to which the PCC is exposed have been reviewed and systems or procedures designed to manage those risks have been established. This is the responsibility of the PCC. A risk register is reviewed in meetings.

6 REFERENCE AND ADMINISTRATION DETAILS

6.1 Parish Name and Location

Parish of St Matthew, Triangle and All Saints,

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

6.2 Charitable Status and related trusts and organisations

6.3 PCC Members and Officers

Rev Nick Atkins Ex-officio St. Matthew’s / Triangle / All Saints
Rev Daniel Morrison Ex-officio St. Matthew’s / Triangle / All Saints
Rev Ruth Best Ex-officio St. Matthew’s / Triangle / All Saints
Rev Andrew Buttress Ex-officio Bridge
Rev Lawrence Carey Ex-officio (Focal Minister) Triangle
Karen Nelson Ex-officio (Pioneer
Minster)		 Triangle
Jane Cornish Ex-officio (Assistant
Pastor)		 All Saints
Vera Evripidou Ex-officio (Parish Warden) St. Matthew’s
Henry Catchpole From 29.10.20 Ex-officio (Parish Warden) St. Matthew’s
Elizabeth Hook Ex-officio (Deanery
Synod)		 All Saints
Mark Cornish Ex-officio (Deanery
Synod)		 All Saints
Andrew Revitt Ex-officio (Deanery
Synod)		 St. Matthew’s
Lorna Penaluna From 29.10.20 Ex-officio (Deanery
Synod)		 St. Matthew’s
Rob Collett Until 29.10.20 Ex-officio (Deanery
Synod)		 Bridge
Carol Glymin Until 29.10.20 Elected St. Matthew’s
Julie Murphy Until 29.10.20 Elected St. Matthew’s
Claire Ruddock From 29.10.20 Secretary (Co-opted) St. Matthew’s/ Triangle/ All Saints
Gareth Roberts Until 04.02.20 Parish Treasurer (Elected) St. Matthew’s/ Triangle/ All Saints
Cleo Simon-Hart From 04.02.20 Parish Treasurer (Elected) St. Matthew’s / Triangle / All Saints
Helen Clarke From 29.10.20 Parish Safeguarding
Officer (Co-opted)		 St. Matthew’s
Jackie Pickering Elected St. Matthew’s
Val Rickett Elected All Saints
Richie Head From 29.10.20 Elected St. Matthew’s

Note that all Parish Wardens and Deanery Synod Members are automatically full PCC members. Other (ordinary) PCC members serve for a term of one year unless re-elected. Deanery Synod members are usually appointed for a term of three years, unless replaced mid-term.

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

6.4 Bankers, Legal advisors & Independent Examiners

Bankers:

Legal advisors:

Independent examiner:

7 STRUCTURE GOVERNANCE AND MANAGEMENT

Statement of PCC’s aim: We aim ‘to co-operate with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical’ (PCC Measure 1956).

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020 ~~pT~~

8 PUBLIC BENEFIT

The members of the PCC have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

9 RESPONSIBILITIES OF THE MEMBERS OF THE PCC

Law applicable to Parochial Church Councils in England requires the members to prepare financial statements for each financial year which give a true and fair view of the Council’s financial activities during the year, and of its position at the end of the year.

In preparing financial statements giving a true and fair view, the members should follow best practice, and:

The members are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Council at any time, and which enable them to ensure the financial statements comply with applicable regulations.

The members are also responsible for safeguarding the assets of the Council, and hence for taking reasonable steps for the prevention of fraud and other irregularities.

10 TRUSTEE DECLARATION

Signed for and on behalf of the Parochial Church Council on 27[th] April 2021.

Rev. Canon Nick Atkins

Date: 27[th] April 2021

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

11. STATEMENT OF FINANCIAL ACTIVITIES

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Notes Unrestricted Restricted Endowment Total Prior year
funds funds funds funds total funds
£ £ £ £ £
Income and endowments from: 14.2
Donations and legacies 186,945.62 157,102.67 — 344,048.29 564,538.01
Income from charitable activities 23,337.69 1,153.61 — 24,491.30 31,220.14
Other trading activities 8,543.00 — — 8,543.00 8,396.93
Investments 1,554.25 181.89 — 1,736.14 70.93
Other income 8,158.60 — — 8,158.60 3,758.35
Total income 228,539.16 158,438.17 — 386,977.33 607,984.36
Expenditure on: 14.3
Raising funds 2,477.52 200 — 2,677.52 1,363.69
Expenditure on charitable activities 189,790.15 102,809.48 — 292,599.63 261,352.46
Total expenditure 192,267.67 103,009.48 — 295,277.15 262,716.15
Net income / (expenditure) resources before transfer 36,271.49 55,428.69 — 91,700.18 345,268.21
Transfers
Gross transfers between funds - in 5,215.61 — — 5,215.61 351,420.51
Gross transfers between funds - out -5,215.61 — — -5,215.61 -351,420.51
Other recognised gains / losses
Gains / losses on investment assets — 73.82 35.59 109.41 250.71
— — — — —
Gains on revaluation, fixed assets, charity's own use
Net movement in funds 36,271.49 55,502.51 35.59 91,809.59 345,518.92
Reconciliation of funds
Total funds brought forward 134,938.82 524,829.44 517.57 660,285.83 314,766.91
Total funds carried forward 171,210.31 580,331.95 553.16 752,095.42 660,285.83
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12. PCC BALANCE SHEET

12. PCC BALANCE SHEET
Notes General Designated Restricted Endowment At 31/12/2020 At 31/12/2019
Fund Funds
£ £ £ £ £ £
Fixed assets 14.6
Tangible assets — 52,363.00 61,000.00 — 113,363.00 113,363.00
Investments 14.13 1 — 1,147.29 553.16 1,701.45 1,592.04
Fixed assets 1 52,363.00 62,147.29 553.16 115,064.45 114,955.04
Current assets
Debtors 14.7 11,410.41 428.02 4,067.55 — 15,905.98 20,393.89
Cash at bank and in hand 60,677.34 65,548.79 535,577.07 — 661,803.20 550,727.76
Current assets 72,087.75 65,976.81 539,644.62 — 677,709.18 571,121.65
Liabilities 14.8
Creditors: Amounts falling due in one year 18,345.18 873.07 21,459.96 — 40,678.21 25,790.86
Net current assets less current liabilities 53,742.57 65,103.74 518,184.66 — 637,030.97 545,330.79
Total assets less current liabilities 53,743.57 117,466.74 580,331.95 553.16 752,095.42 660,285.83
Total net assets less liabilities 53,743.57 117,466.74 580,331.95 553.16 752,095.42 660,285.83
Represented by
Unrestricted 14.9 53,743.57 53,743.57 31,984.90
Designated 14.9 117,466.74 117,466.74 102,953.92
Restricted 14.10 580,331.95 580,331.95 524,829.44
Endowment 14.11 553.16 553.16 517.57
Funds of the church 53,743.57 117,466.74 580,331.95 553.16 752,095.42 660,285.83

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

13. STATEMENT OF CASHFLOWS

13. STATEMENT OF CASHFLOWS
Notes 2020 2019
£ £
Cash provided by operating activities 14.14 109,341.30 362,046.96
Cash flows from investing activities
Investment income 1,736.14 70.93
Addition/ (Disposal) of investment - -
Cash generated by investing activities 1,736.14 70.93
Increase in cash and cash equivalents 111,075.44 362,177.89
Total cash and cash equivalents
brought forward		 550,727.76 188,609.87
Total cash and cash equivalents at end
of reporting period		 661,803.20 550,727.76

Approved by the Parochial Church Council on 27[th] April 2021

Rev. Nick Atkins (Chairman)

Cleo Simon-Hart (Treasurer)

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14. NOTES TO THE FINANCIAL STATEMENTS

14.1 Accounting Policies

1. Basis of Preparation

The accounts have been prepared in accordance with the 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 1st January 2019).

The accounts have been prepared to give a 'true and fair' view and 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 Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities applying FRS 102 rather than the version referred to in the regulations which has since been withdrawn.

The accounts are prepared in Sterling, which is the functional currency, Monetary amounts are stated in pounds and pence.

The PCC meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

Estimates and judgements are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no critical estimates. The property at No.2 Crescent Road, Ipswich has been professionally valued on the basis of open market value with existing use.

The accounts have been prepared on the going concern basis as the PCC have a reasonable expectation that the Church has adequate resources to continue operating for the foreseeable future.

2. Financial Statements

The financial statements for the PCC include all amounts relating to St Matthew's Church, Triangle Church, All Saints Church, The Fletcher Centre, Triangle Community Centre and Bridge Church aggregated on a line by line basis. Material internal transactions have been eliminated on aggregation, except where these represent transfers between unrestricted and restricted funds.

The PCC has one wholly owned subsidiary company, Triangle Living Water Limited. Consolidated financial statements have not been prepared since the results of the subsidiary company are not considered material to the PCC as a whole. Details of the subsidiary company's results for the year and the position at the year-end are given in the notes to the financial statements.

3. Funds

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. These include any funds designated for a particular purpose by the PCC.

Restricted funds are created when grants or donations are received for a particular purpose (either as imposed by the donor or arising as a result of special appeals by the PCC) where the use of those funds are restricted to that purpose.

14

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

Restricted capital funds are known as endowment funds. These can be permanent endowments, where the PCC has no power to convert the capital into income, or expendable endowments, where both capital and income can be used but only for specific purposes.

The financial statements include all transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church groups that owe their affiliation to another body nor those that are informal gatherings of church members.

4. Income

Planned giving, collections and donations are recognised in the financial statements when received. Tax refunds thereon are recognised when the income to which they relate is received.

Grants due to the PCC are accounted for when the PCC is legally entitled to the amounts due. This normally arises when a formal offer has been received, except where terms or conditions have still to be met. Legacies and bequests are recognised when the PCC has been notified of its legal entitlement, the receipt of the funds is probable and the amount can be measured reliably.

Rental income from the letting of church premises is accounted for on an accruals basis. Fees due to the PCC for weddings, funerals and similar services are accounted for on an event by event basis, when due. Dividends and interest are accounted for when receivable and the amount can be measured reliably by the PCC. Other income is recognised when received by the PCC.

5. Expenditure

Grants and donations payable by the PCC are accounted for when paid over, or when awarded and agreed, if that award or agreement creates a binding or constructive obligation on the PCC, the payment is probable and the amount due can be measured reliably.

The diocesan parish share is accounted for when due. Should subsequent payments be made by the PCC after the end of the year, identified by both the diocese and the PCC as relating to the current year, a provision for an operational (but not a legal) liability will be included in the financial statements. Other expenditure is recognised when incurred, on an accruals basis, and is accounted for gross.

6. Fixed Assets

Consecrated and benefice property is not included in the financial statements in accordance with Section 10(2)(a) and (c) of the Charities Act 2011. Movable church furnishings held by the incumbent and churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. No value has been placed on inalienable property acquired in past years, as there is insufficient cost information readily available, however these are listed in the PCC's Inventory, which can be inspected at any reasonable time. All expenditure incurred during the year on consecrated or benefice buildings and on movable church furnishings is written off as incurred, unless in the case of inalienable property the individual acquisition cost is more than £1,000, in which case the policy is to capitalise such items, and to depreciate them over their currently anticipated useful lives (initially 20 years) on a straight line basis.

Other land and buildings, held by the PCC for its own purposes, are stated at cost. All maintenance costs are written off as incurred. No depreciation is provided on freehold properties since it is the PCC's policy to maintain these assets in a continual state of sound repair, and accordingly the PCC considers that any depreciation charge would be insignificant.

At each reporting date the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those have suffered any 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).

15

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

Functional equipment purchased for use within the church premises or elsewhere by the PCC is capitalised and depreciated on a straight line basis over 3 to 5 years. Individual items of equipment with a purchase price of £1,000 or less are written off in the year of acquisition.

The PCC's investment in its subsidiary company is included at cost. Other investments held by the PCC are valued at market value at the year end. Realised gains or losses are recognized when investments are sold. Unrealised gains and losses are accounted for on revaluation of the relevant investments at the year end.

7. Cash at bank and in hand

Cash at bank and in hand includes cash and highly liquid investments.

8. Financial Instruments

Other than the fixed asset investments, the charity only has financial assets and financial liabilities that qualify as basic financial instruments, Basic financial instruments are recognized in the balance sheet when the PCC becomes party to the contractual provision of the instrument.

9. Pensions

The PCC has no contractual obligations to make payments to any pension scheme for its employees. Contributions will be charged to the Statement of Financial Activities as they become payable.

10. Operating Leases

The rentals payable under operating lease are charged on a straight-line basis over the lease term.

16

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.2 Income and Endowments

Total
Unrestricted Designated Restricted Endowment This year Last year
£ £ £ £ £ £
Income and endowments
Donations and legacies
0101 - Gift Aid - Bank 65,237.60 — 23,170.00 — 88,407.60 86,487.22
0110 - Gift Aid - Envelopes 5,119.20 — 268.74 — 5,387.94 13,625.00
0120 - Give as you earn 7,800.00 — — — 7,800.00 7,800.00
0201 - Other planned giving 28,860.50 — 3,670.00 — 32,530.50 27,342.21
0301 - Loose plate collections 4,589.88 — — — 4,589.88 11,406.10
0401 - Regular gift days — — — — — 29.67
0402 - Gift Day 3,069.30 — 3,355.70 — 6,425.00 —
0501 - One-off Gift Aid gifts 11,215.00 — 2,251.21 — 13,466.21 12,513.00
0502 - One-off non-gift aid gifts 27,664.20 — 1,650.02 — 29,314.22 22,709.61
0550 - Donations appeals etc 31.43 — 240 — 271.43 1,424.46
0601 - Tax recoverable on Gift Aid 22,792.23 — 7,447.55 — 30,239.78 33,235.19
0701 - Legacies — — 115,236.65 — 115,236.65 346,000.00
08A1 - Grants 3,126.36 7,342.42 -187.2 — 10,281.58 1,529.17
0901 - Other funds generated 97.5 — — — 97.5 436.38
Donations and legacies Totals 179,603.20 7,342.42 157,102.67 — 344,048.29 564,538.01
Income from charitable activities
1101 - Fees for weddings and funerals 1,224.00 — — — 1,224.00 2,005.20
1210 - Bookstall sales to promote — — — — — 5
objectives
1230 - Church hall lettings - objectives — 21,821.07 — — 21,821.07 26,623.39
1270 - Church Weekend — — — — — 150
1280 - Lunch Club — — — — — 543.63
1291 - Other income 196.54 — 1,153.61 — 1,350.15 874.12
1292 - Parent Toddler Group — 96.08 — — 96.08 1,018.80
Income from charitable activities 1,420.54 21,917.15 1,153.61 — 24,491.30 31,220.14
Totals
Other trading activities
1240 - Church hall lettings - fund raising 200 — — — 200 445
1246 - Flat rent — 8,343.00 — — 8,343.00 7,951.93
Other trading activities Totals 200 8,343.00 — — 8,543.00 8,396.93
Investments
1001 - Dividends — — 47.62 — 47.62 46.24
1020 - Bank and building society 5.33 1,548.92 134.27 — 1,688.52 24.69
interest
Investments Totals 5.33 1,548.92 181.89 — 1,736.14 70.93
Other income
1261 - Photocopy Fees 496.6 — — — 496.6 1,058.35
1310 - Insurance claims 4,962.00 — — — 4,962.00 —
1330 - Triangle Living Water (rent of 2,700.00 — — — 2,700.00 2,700.00
premises)
Other income Totals 8,158.60 — — — 8,158.60 3,758.35
Income and endowments 189,387.67 39,151.49 158,438.17 — 386,977.33 607,984.36
Grand totals

17

PARISH OF ST MAThHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDING 31" DECEMBER 2020 14.3 Expenditure Tolal Last yoar Unr•8trficl&d D•slgn•tsd R•$trt¢t•d EndowTh•nt Th18 par Expen(Iture Rw¥ing funds 1730- Costs olfete5 & Lthr ￿erts 1740. In¥ement MalaJe￿ costs 1750. F￿t costs 1780. Fkt MaNen￿￿e 120 94 81 595 2,12 81 285 596 75 646 R•lsltyi Tot1 2,448 76 2.6TI 52 1,36389 Exp•ndiitsr• on ch•rtt•èl• 1BOI GIMng io rniSSk)nary socithes 1830. Gmng. DYSS 185D- Hottt klis>ty) 1910. p￿sh Sh￿ dc 2(1)2. YoLh and S￿$ Khrd 2051 - SaL4nes 2101 . WorkThJ exp￿$¢$ ol 2201 . PanshirabNrrfJ n￿ 2301 . In$w￿e 2310. Ofe ptr￿ 2311 - Ge￿al olKe c05t5 2312. st￿ re5rA￿eS 2320- Qryan I 2330. ChLYch m•ntwaYe 2331 - Ca￿ake[ & t￿$ 2331 - Ckariry 2332. Reknthfrfrert 2)35. Fumitwe ar￿ E(pwxrt 2YO- SeM¢e Cos 2350. Upkeep ol 2380.AdmDiiatson 23eo. & Kled 23es.Audthisual 22￿- PuYIcy C¢$ 2440- Chwch C￿5 2450. ciner costs ol chjth èCbMbes 2502. LLrtTh aL> 2503. CorrnKnity 2504. ChL¥ch Eeker 2505. PaTeN Tothr 25(￿. IALSS 251D- 8ookstall eost$ 2W. Hal 2590. Hal costs 2591 . Li¥wvJ Waiet p￿rThSes co 0,2rffj 5,12591 4,81781 88.￿0 t -21 9 35.798 64 14W18 13.4LTh) IX) 311Sg 2.W22 40 1.740 6.185 (K> 40,924 18,886 09 lo1,￿[ 7.583 00 3.13223 9,788 13 103.8LI8 00 1.638 07 24.196 4.8{￿ 14 3.356 72 7,883 77 1,578 94 4.W197 59768 1434 16.033 89 1.807 09 4678 I8,￿B 20 2,150 32 4218 24,12 78 3.891 6,548 70 2,036 79 3259 42 67&1 1,248 CO 7,794 79 2,￿79 3,446 40 67 2.424 156 $8 2.424 7.(fj4 82 4,14429 701 70138 6.010 10 4.W 73 5.611 &) 3.￿1 1,448 B7 733 57 5.061 725 45 2,370 41 7925 2.422 83 7.343 29 $58 $2 2.887 $7 1.316 08 3563 5.688 $3 690 78 B7214 8828 1799 830 29 1,732 03 T539 T.79969 19.316 59 6.315 94 748 45 4,CQS 1.420 93 2459 421001 6375 21 1.715 49 1.4(* 91 2459 421001 715 26 -187 76 275 275 1,273 73 5754 366 32 3,12574 2.751 40 4.￿￿5 13 1954 6,28368 16 449 5.437 37 11324 21 4.170C S.3380) 4.974 00 70 2.835 20 3.844 00 2602. PC£ gO[e￿ce swwt 2710- ChLYch m¥r InstalLa1￿)nV￿rts 2730. dewecAt 2801- Hal 5trwlutal 2820- Hal ￿5t￿la￿o￿￿￿kS -1,512 4,6WJ 3.18BIM> 2.210 iXI 4x1 2,210 1.252 Cl) 2.580 00 EXpe￿ilu￿ on ch•iit•ble •cllvlll8s Totals 16B.015 B5 21.714 Xl 102.W9 48 292.59963 261.￿2 46 Expendture Grand lotals 16B,04461 24223 103.1¥ffj.48 295.277 15 262.716.15 18

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

Analysis of grants to missionary societies, home mission and overseas mission.

Name Unrestricted
£
Restricted
£
2020
£		 2019
£
Overseas Mission
Compassions UK 654.00 654.00 650.00
YWAM Bolivia 702.61 15,343.68 16,046.29 667.33
Kagera Diocese 4,069.30 5,113.74 9,183.04 1,864.90
Global Teams International 15,341.22 15,341.22
Unallocated 50.00
-
Sub Total Overseas Mission 5,425.91 35,798.64 41,224.55 3,132.23
Differences attributed to accruals 300.00
-
Sub Total Overseas Mission(Adjusted) 5,425.91 35,798.64 40,924.55 3,132.23
Mission Societies
CMS 4,500.00 185.00 4,685.00 6,500.00
Open Doors 1,500.00 1,500.00 1,500.00
Unallocated
Sub Total Mission Societies 6,000.00 185.00 6,185.00 8,000.00
Redistribution to mission expenditure and
overseas mission		 417.00
-
Sub Total Mission(Adjusted) 6,000.00 185.00 6,185.00 7,583.00
Home Mission
Bible Mission Society 100.00
Bridge Church 415.00
Talitha Koum 415.00
CYM 2,500.00 2,500.00 3,000.00
Inspire 1,500.00
 1,500.00 1,500.00
Perspectives 1,000.00
 1,000.00 1,000.00
UCCF 1,000.00
Selig 656.00 656.00 617.00
LivingWater 5,113.74 5,113.74
TLG 1,000.00
 1,000.00
CAP 1,659.96 1,659.96
FIND 200.00 200.00
48th Ipswich Brownies 210.00 210.00
The DaundyTrust 105.00 105.00
Open Up 702.61 5,113.74 5,816.35
Unallocated 1,325.04 1,325.04 1,000.00
Sub Total Home Mission 7,017.61 14,068.48 21,086.09 9,047.00
Differences attributed to accruals, code
redistribution to mission expenses and
further payments		 2,200.00
-		 741.13
Sub Total Home Mission(Adjusted) 7,017.61 14,068.48 18,886.09 9,788.13
GRANTS GRAND TOTAL 65,995.64 20,503.36

19

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.4 Staff Costs

ff Costs
Gross salaries
Employer’s national insurance
Pension costs (see below)		 2020
2019
£
£
28,725
29,995
-
-
-
-
28,725
29,995

The only member of the PCC receiving remuneration as an employee was Jackie Pickering who received £6,012 (2019:£5,900) in wages as part-time parish administrator.

Ordained clergy stipends are paid directly by the Diocese, and are therefore excluded from these financial statements. In addition to many unpaid volunteers, there was an average of 5 part-time employees during the year (2019:6). This was equivalent to approximately 2.5 full time employees (2019: 3).

No contributions were made to a pension scheme on behalf of employees during 2020 (2019: £Nil). There are no eligible job holders, and arrangements have been made to offer all entitled workers and non-eligible job holders the option to enrol into a suitable scheme, using the People’s Pension as the provider; however to date no employees have decided to opt in to the scheme.

Accrued holiday pay is not recognised in the financial statements as this is not considered to be a material component of total expenditure.

14.5 Related Party Transactions

Clergy and other ministry expenses of £3,891 (2019: £4,808) may include small immaterial amounts paid to the clergy which relate to their functions as ex officio PCC members.

The only PCC members, persons closely connected to them, or related parties who benefited from payments made by the PCC are noted below:

No other payments or expenses were paid to PCC members, persons closely connected to them, or related parties, other than incidental and occasional reimbursements for routine parish costs.

There were no donations from related parties with conditions. The aggregate amount of donations received without conditions from PCC members was £65,816 (2019: £37,463).

20

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

A PCC member and spouse rented the 1[st] floor flat in the property at 2, Crescent Road till 29[th] October 2020 and paid 10 months of 2020 £7,568 (2019: £7,592).

14.6 Fixed Asset

Cost
At I January 2020
Additions
As at 31 December 2020
Depreciation
At I January 2020
Provided for the year
As at 31 December 2020
Net Book Value
As at 31 December 2020
As at 31 December 2019		 Freehold
Land &
Buildings
£
113,363
-
113,363
-
-
-
113,363
113,363		 Fixtures
Fittings &
Equipment
£
65,427
-
65,427
65,427
-
65,427
0
0		 Total
£
178,790
-
178,790
65,427
-
65,427
113,363
113,363

Included in freehold land and buildings is a property at 2 Crescent Road, Ipswich, with a net book value at 31 December 2020 of £52,363 (2019: £52,363). This property is owned by a declaration of trust between the PCC, the Girls Friendly Society and Townsend Fellowship and Ipswich Diocesan Board of Finance. The proportion owned by the PCC represents 336/500 th's of the total purchase price. In the event of the sale of the property, the PCC would receive the sum of 39/90 th's of the net sale proceeds. The property was professionally valued on 30 May 2018 at open market value with vacant possession at £380,000. A professional valuation of the property is next due in 2023.

14.7 Debtors

14.7 Debtors
General Designated Restricted Endowment Total Last year
£ £ £ £ £ £
Current assets - Debtors
6520 : Income Tax Recoverable 8,914.42 — 4,061.34 — 12,975.76 16,646.89
6530 : Other Debtors — — 6.21 — 6.21 6.21
6540 : Prepayments and accrued 2,192.15 344.64 — — 2,536.79 2,742.24
income
Z05 : Accounts Receivable 303.84 83.38 — — 387.22 998.55
Total 11,410.41 428.02 4,067.55 — 15,905.98 20,393.89

21

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.8 Liabilities

14.8 Liabilities
General Designated Restricted Endowment Total Last year
£ £ £ £ £ £
Liabilities - Creditors: Amounts falling due in one year
6602 : Accruals and deferred 0.01 — — — 0.01 0.01
income
Z04 : Accounts Payable 18,345.17 873.07 20,100.65 — 39,318.89 25,552.47
6699 : Agency collections — — 1,359.31 — 1,359.31 238.38
Total
18,345.18		 873.07 21,459.96 — 40,678.21 25,790.86

14.9 Unrestricted Funds

Fund and type Fund balances Incoming Outgoing Transfers Gains and Losses Fund balances Fund balances
brought forward Resources Resources carried forward
£ £ £ £ £ £
Unrestricted
General - General fund 31,984.90 189,387.67 168,044.61 415.61 — 53,743.57
Sub-totals 31,984.90 189,387.67 168,044.61 415.61 — 53,743.57
Designated
ASREFURB - All 28,537.99 12,551.62 6,519.54 — — 34,570.07
Saints Hall Fund Main
DSCRTNRY - Minsters 20.00 — — — — 20.00
Discretionary fund
DesBuild - Designated 3,682.40 — (1,512.00) — — 5,194.40
Building fund
FCFund - Fletcher 16,393.43 18,983.54 14,654.52 — — 20,722.45
Centre Fund
Flowers - Flower Fund 277.87 — — — — 277.87
LT - Little Treasures 1,408.07 96.08 15.47 — — 1,488.68
SMEquip - St (16.98) — — — — (16.98)
Matthew's Equipment
Fund
SMProperty - St 52,363.00 — — — — 52,363.00
Matthew's Property
Fund
SMSIZEWELL - SM 150.00 — — — — 150.00
Sizewell
TRTCC - Triangle 138.14 7,520.25 4,545.53 (415.61) — 2,697.25
Community Centre
Fund
Sub-totals		 102,953.92 39,151.49 24,223.06 (415.61) — 117,466.74

22

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.10 Restricted Funds

Fund and type Fund balances Incoming Outgoing Transfers Gains and Losses Fund balances Fund balances
brought forward Resources Resources carried forward
£ £ £ £ £ £
Restricted
ASCHILD - AS Child 2.46 — 2.46 — — —
Sponsorship Fund
ASFABRIC - All Saints 5,737.89 181.89 4,360.95 — 73.82 1,632.65
Fabric Fund
ASFUND - All Saints 345,000.00 115,236.65 70,503.97 — — 389,732.68
Fund
ASHALL - All Saints 351.00 — — — — 351.00
Hall Fund Other
ASNEWWINE - New (294.00) — (294.00) — — —
Wine
ASSUNDAY - All 172.54 — 7.25 — — 165.29
Saints Sunday School
Fund
ASYOUTH - All Saints 1.80 — — — — 1.80
Youth Fund
ASYOUTHGRP - All 132.08 — 72.80 — — 59.28
Saints Youth Group
Fund
BRIDGE - Bridge 1,140.00 36,110.93 7,015.55 — — 30,235.38
Church
Bells - Bell Fund 3,312.57 — — — — 3,312.57
CMS - CMS Mission — 485.00 185.00 — — 300.00
Partner
FCFund - Fletcher 22,825.99 1,988.56 3,186.95 — — 21,627.60
Centre Fund
Fabric - St Matthew's 22,865.01 100.00 6,776.40 — — 16,188.61
Fabric Fund
Keyboard - Keyboard 357.20 — — — — 357.20
Fund
Mission - Mission 21,407.48 2,275.43 4,800.97 — — 18,881.94
Church
Organ - Organ Fund 2,721.92 — 2,424.00 — — 297.92
Refurb - Church (1.21) 1.21 — — — —
Refurbishment Fund
SCOLLECT - Special 44.56 — — — — 44.56
Collections
SMSpecial - St 113.98 — — — — 113.98
Matthew's Special
Collections
SSCollect - Sunday (206.90) — (206.90) — — —
School Collection
Fund
STMATTS - St 26,912.25 (187.20) 814.14 — — 25,910.91
Matthews Church
Projects Fund
TRCOMMWORK - 0.98 1,078.20 200.00 — — 879.18
Triangle Community
Work
TRPROPERTY - 61,000.00 — — — — 61,000.00
Triangle Property Fund
Youth - Parish Youth 11,231.84 1,167.50 3,159.94 — — 9,239.40
Fund
Sub-totals 524,829.44 158,438.17 103,009.48 — 73.82 580,331.95

23

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.11 Endowment Funds

Fund and type Fund balances Incoming Outgoing Transfers Gains and Losses Fund balances
brought forward Resources Resources carried forward
£ £ £ £ £ £
Endowment
ASCOOK - Mrs Cook 517.57 — — — 35.59 553.16
Bequest
Sub-totals		 517.57 — — — 35.59 553.16

The Cook Bequest Fund is a permanent endowment fund managed by the Diocese on behalf of All Saints Church. It is represented by a holding of 27 shares in the Central Board of Finance Investment Fund. Income arising on the fund is distributed, and is available for the PCC to utilise at its discretion, for the benefit of All Saints Church. It is customarily credited to the fabric fund held by All Saints Church.

14.12 Commitments

At the year end the PCC had annual commitments under non-cancellable operating leases as below:

14.13 Investments

At Market Value
CBF Investment Fund
All Saints Fabric Fund (56 shares)
All Saints Cook Bequest Fund (27 shares)
At Cost
Shares held in Triangle Living Water Limited		 As at 31/12/2020
£
1,147.29
553.16
1
1,701.45		 Gains/Losses
£
73.82
35.59
109.41		 As at 31/12/2019
£
1,073.47
517.57
1
1,592.04

The PCC owns the entire issued share capital (1 ordinary share of £1) of its subsidiary company, Triangle Living Water Limited, a registered charity which operates from premises in Dickens Road, Ipswich, providing services to the local community, and acting as a Christian outreach centre. The most recent filed accounts available relate to the year ended 31 December 2019 and show income of £22,011 (2018: £24,557 ) expenditure of £21,525 (2018: £23,105 ) and closing net assets of £3,865.49 (2017: £3,379).

24

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.14 Reconciliation Of Net Movement In Funds To Net Cashflow From Operating Activities

Net movement in funds
Depreciation charge
Investment income
Gain on revaluation of asset
Debtors – Net movement
Creditors – Net movement
Cash provided by operating activities		 2020
£
91,809.59
-
-1,736.14
-109.41
4,487.91
14,889.35
109,341,30		 2019
£
345,518.92
3,844.00
-70.93
-250.71
11,449.19
1,556.49
362,046.96

25

PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.15 SOFA Comparatives

The following schedule provides a breakdown of comparative figures for 2019 for all amounts shown in the Statement of Financial Activities, analysed across fund types.

Parish of St Matthew Triangle and All Saints PCC

Statement of Financial Activities

For the period from 01 January 2019 to 31 December 2019

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Unrestricted Restricted Endowment Total Prior year
funds funds funds funds total funds
£ £ £ £ £
Income and endowments from:
Donations and legacies 189,348.01 375,190.00 — 564,538.01 210,912.48
Income from charitable activities 30,609.14 611 — 31,220.14 30,334.53
Other trading activities 8,396.93 — — 8,396.93 7,284.16
Investments 21.45 49.48 — 70.93 96.5
Other income 3,758.35 — — 3,758.35 3,955.25
Total income 232,133.88 375,850.48 — 607,984.36 252,582.92
Expenditure on:
Raising funds 1,363.69 — — 1,363.69 259.28
Expenditure on charitable activities 229,015.33 32,337.13 — 261,352.46 283,670.26
Total expenditure 230,379.02 32,337.13 — 262,716.15 283,929.54
Net income / (expenditure) resources before transfer 1,754.86 343,513.35 — 345,268.21 -31,346.62
Transfers
Gross transfers between funds - in 5,655.43 345,765.08 — 351,420.51 4,548.00
Gross transfers between funds - out -5,638.81 -345,781.70 — -351,420.51 -4,548.00
Other recognised gains / losses
Gains / losses on investment assets — 169.15 81.56 250.71 -20.41
Gains on revaluation, fixed assets, charity's own use — — — — —
Net movement in funds 1,771.48 343,665.88 81.56 345,518.92 -31,367.03
Reconciliation of funds
Total funds brought forward 133,167.34 181,163.56 436.01 314,766.91 346,133.94
Total funds carried forward 134,938.82 524,829.44 517.57 660,285.83 314,766.91
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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.16 Balance Sheet Comparatives

The following schedule provides a breakdown of comparative figures for 2019 for all amounts shown in the Balance Sheet, analysed across fund types.

General Designated Restricted Endowment At 31/12/2019 At 31/12/2018
Fund Funds £ £
Fixed assets
Tangible assets — 52,363.00 61,000.00 — 113,363.00 117,207.00
Investments 1 — 1,073.47 517.57 1,592.04 1,341.33
Fixed assets 1 52,363.00 62,073.47 517.57 114,955.04 118,548.33
Current assets
Debtors 18,395.54 771.38 1,226.97 — 20,393.89 31,843.08
Cash at bank and in hand 33,015.09 53,351.69 464,360.98 — 550,727.76 188,609.87
Current assets 51,410.63 54,123.07 465,587.95 — 571,121.65 220,452.95
Liabilities
Creditors: Amounts falling due in one year 19,426.73 3,532.15 2,831.98 — 25,790.86 24,234.37
Net current assets less current liabilities 31,983.90 50,590.92 462,755.97 — 545,330.79 196,218.58
Total assets less current liabilities 31,984.90 102,953.92 524,829.44 517.57 660,285.83 314,766.91
Total net assets less liabilities 31,984.90 102,953.92 524,829.44 517.57 660,285.83 314,766.91
Represented by
Unrestricted 31,984.90 31,984.90 30,787.46
Designated 102,953.92 102,953.92 102,379.88
Restricted 524,829.44 524,829.44 181,163.56
Endowment 517.57 517.57 436.01
Funds of the church 31,984.90 102,953.92 524,829.44 517.57 660,285.83 314,766.91

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.17 Unrestricted Funds (prior year movements)

The following schedule provides a breakdown of comparative figures for 2019.

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Fund and type Fund balances Incoming Outgoing Transfers Gains and Fund balances
brought forward Resources Resources Losses carried forward
Unrestricted
General - General fund 30,787.46 196,897.30 191,618.45 -4,081.41 — 31,984.90
Sub-totals 30,787.46 196,897.30 191,618.45 -4,081.41 — 31,984.90
Designated
ASREFURB - All 22,616.78 13,095.35 7,174.14 — — 28,537.99
Saints Hall Fund Main
DSCRTNRY - Minsters 20 — — — — 20
Discretionary fund
DesBuild - Designated 5,194.40 — 1,512.00 — — 3,682.40
Building fund
FCFund - Fletcher 12,955.17 17,531.18 13,594.34 -498.58 — 16,393.43
Centre Fund
Fabric - St Matthew's — — — — — —
Fabric Fund
Flowers - Flower Fund 277.87 — — — — 277.87
LT - Little Treasures 1,534.55 1,018.80 645.28 -500 — 1,408.07
PAAVDES - PA/AV 244 — 244 — — —
Fund
SMEquip - St 3,844.00 — 3,860.98 — — -16.98
Matthew's Equipment
Fund
SMProperty - St 52,363.00 — — — — 52,363.00
Matthew's Property
Fund
SMSIZEWELL - SM — 150 — — — 150
Sizewell
TRTCC - Triangle 3,330.11 3,441.25 11,729.83 5,096.61 — 138.14
Community Centre
Fund
Sub-totals 102,379.88 35,236.58 38,760.57 4,098.03 — 102,953.92
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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.18 Restricted Funds (prior year movements)

The following schedule provides a breakdown of comparative figures for 2019.

Fund and type Fund balances Incoming Outgoing Transfers Gains and Fund balances
brought forward Resources Resources Losses carried forward
Restricted
ASCHILD - AS Child 2.46 — — — — 2.46
Sponsorship Fund
ASFABRIC - All Saints 12,525.74 345,149.48 6,839.98 -345,266.50 169.15 5,737.89
Fabric Fund
ASFUND - All Saints — — — 345,000.00 — 345,000.00
Fund
ASHALL - All Saints — 351 — — — 351
Hall Fund Other
ASNEWWINE - New -294 — — — — -294
Wine
ASSOUND - All 1,029.93 — 1,296.43 266.5 — —
Saints Sound
ASSUNDAY - All -52.46 225 — — — 172.54
Saints Sunday School
Fund
ASYOUTH - All Saints 1.8 — — — — 1.8
Youth Fund
ASYOUTHGRP - All 86.05 50 3.97 — — 132.08
Saints Youth Group
Fund
BRIDGE - Bridge — 1,140.00 — — — 1,140.00
Church
Bells - Bell Fund 3,439.97 157 284.4 — — 3,312.57
CMS - CMS Mission 1,450.00 600 2,050.00 — — —
Partner
FCFund - Fletcher 23,186.50 2,648.73 3,507.82 498.58 — 22,825.99
Centre Fund
Fabric - St Matthew's 26,132.51 2,552.50 5,820.00 — — 22,865.01
Fabric Fund
Keyboard - Keyboard 357.2 — — — — 357.2
Fund
Mission - Mission 2,496.54 20,000.00 1,089.06 — — 21,407.48
Church
Organ - Organ Fund 2,865.32 — 143.4 — — 2,721.92
PA - PA Fund 107 — 107 — — —
Refurb - Church -1.21 — — — — -1.21
Refurbishment Fund
SCOLLECT - Special 44.56 — — — — 44.56
Collections
SMSpecial - St 113.98 364.9 364.9 — — 113.98
Matthew's Special
Collections
SSCollect - Sunday -236.57 29.67 — — — -206.9
School Collection
Fund
STMATTS - St 29,549.95 187.2 2,824.90 — — 26,912.25
Matthews Church
Projects Fund
TRCHILD - Triangle — 150 150 — — —
Childrens Work fund
TRCOMMWORK - 1,198.98 — 682.8 -515.2 — 0.98
Triangle Community
Work
TRPROPERTY - 61,000.00 — — — — 61,000.00
Triangle Property Fund
TRTCC - Triangle -10 350 340 — — —
Community Centre
Fund
Youth - Parish Youth 16,169.31 1,895.00 6,832.47 — — 11,231.84
Fund
Sub-totals 181,163.56 375,850.48 32,337.13 -16.62 169.15 524,829.44

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PARISH OF ST MATTHEW, TRIANGLE AND ALL SAINTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] DECEMBER 2020

14.19 Endowment Funds (prior year movements)

The following schedule provides a breakdown of comparative figures for 2019.

Fund and type Fund balances Incoming Outgoing Transfers Gains and Fund balances
brought forward Resources Resources Losses carried forward
Endowment
ASCOOK - Mrs Cook 436.01 — — — 81.56 517.57
Bequest
Sub-totals 436.01 — — — 81.56 517.57

END OF FINANCIAL STATEMENTS

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INDEPENDENT EXAMINER’S REPORT TO THE PCC OF ST MATTHEW, TRIANGLE AND ALL SAINTS, IPSWICH

I report to the charity’s trustees (who are the members of the Parochial Church Council) on my examination of the accounts of the PCC for the year ended 31 December 2020, which are set out on pages 12 to 30.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (’the Act’).

I report in respect of my examination of the charity’s accounts carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner’s statement

The charity’s income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW).

I have completed my examination. I confirm that no material 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 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with 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 accounts to be reached.

28 April 2021

Mrs H Rumsey, FCA Ensors Accountants LLP Ipswich IP1 1TT

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