## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** **Trustees’ Report and Accounts For the year ended 31[st] December 2020** **Registered Charity No 1129567** _Page 1_ ## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** ## **Trustees Report for the year ended 31[st] December 2020** ## **PCC Members during the year** Ex-officio members Rev’d Dr Eleanor Williams Incumbent Rev’d Paula Spalding Assistant Curate Stephen Martin Churchwarden Janine Stewart Joint PCC Secretary Valerie Badcock Joint PCC Secretary Terry Chalmers Treasurer Deanery Synod Representative Joanna Proctor Elected Members Licensed Lay Minister Myrna Leech Thomas Elton Caroline Smith Wendy Smith Robin Proctor Pamela King Patricia Chalmers Simon Ogilvie Katherine Ogilvie Sally Swann Churchwarden’s Assistant Churchwarden’s Assistant Churchwarden’s Assistant Churchwarden’s Assistant _Page 2_ # **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** ## **Trustees Report for the year ended 31[st] December 2020** **Vicarage Address:** The Vicarage 22 Isaacson Road Burwell Cambridge CB25 0AF **Registered Charity Number:** 1129567 **Independent Examiner:** Simon Rogers 1 Pound Close Burwell Cambridge CB25 0EP **Bankers:** Barclays Bank plc CCLA Investment Management Ltd 58 High Street CBF Church of England Funds Newmarket Senator House Suffolk 85 Queen Victoria Street CB8 8NH London EC4V 4ET The parish church of St Mary the Virgin stands in a prominent position in High Street, Burwell, Cambs, CB25 0HB. It is in the Parish of Burwell with Reach, within the Fordham and Quy Deanery. St Mary’s is a very fine Perpendicular building and is Grade 1 listed. It also forms part of a conservation area. St Mary’s Church stands on a site previously occupied by an Anglo Saxon church in a conservation area at the south-western end of the village. It is part of a complex of ancient buildings including (the remains of) Burwell Castle, built by King Stephen in the C12[th] and itself on the site of a substantial Roman building, adjacent to a spring. The Church of St Etheldreda and The Holy Trinity, Fair Green, Reach, Cambridgeshire CB25 0JD is a Grade II listed Victorian church. It occupies a prominent position on the east side of the green in the centre of the village, alongside the Village Centre and the village pub. Its Victorian architecture is completely in keeping with the overall ambience of the village. The parishes of Burwell and Reach were combined in April 2004 to form the benefice of Burwell with Reach. _Page 3_ ## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** ## **Trustees Report for the year ended 31[st] December 2020** ## **Structure Governance and Management** The PCC confirm that the annual report and audited accounts comply with the requirements of the Charities Act 2011 and the Charities SORP 2005. ## **Governing Document** The Parochial Church Council is a corporate body established by the Church of England and the PCC operates under the Parochial Church Council Powers Measure. ## **Recruitment and Appointment of PCC** The appointment of PCC members is governed by and set out in the Church Representation Rules. ## **Risk Management** The PCC has carried out a review of the major risks to which the charity is exposed. Where appropriate policies have been established to mitigate the risks the charity faces. These policies are periodically reviewed to ensure they continue to meet the needs of the charity. ## **Organisational Structure** In order to carry out its aims and objectives, the PCC sets up sub-committees, which may include other church members. Among these are groups to manage the church shop and the Guildhall. ## **Related Parties** ## _**St Mary’s Preservation Trust**_ The Preservation Trust is an independent charity, set up by the PCC in 1979 with the sole responsibility of conserving the fabric of the building of the church for the benefit of future generations. It is non-denominational and draws funds from both regular supporters and grantmaking bodies. ## _**Feoffees**_ Burwell Church Lands Charity dates back to the 16th century when land was donated for the benefit of the Poor and the maintenance of the Parish Church. It now makes modest grants to assist children and young people living in Burwell to pursue their educational needs, and supports the upkeep of the Guildhall and grants the Church use of the building. _Page 4_ ## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** ## **Trustees Report for the year ended 31[st] December 2020** ## **Objectives and Aims** In accordance with The PCC Powers Measure of 1956, the PCC aims to co-operate with the Vicar in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. ## _**Mission Statement**_ As the parish churches of Burwell & Reach we gather as people of all ages, seeking to grow together in faith, hope and love, sharing the good news of God’s love through - Our prayer and worship - Our daily lives - Our service in our communities & in the world - Our buildings being warm & welcoming centres of prayer and community life. ## **Public Benefit** The PCC has paid due regard to the Charity Commission guidance on public benefit. We aim to provide a welcoming building for use of the whole community, whilst also meeting the expanding needs of the church. Our buildings are open not only as places of worship, but also, in normal circumstances, as venues for cultural events such as concerts and exhibitions, for smaller community meetings. While recognising our rich heritage, we are planning new facilities to enhance our buildings. ## **Achievements and Performance** Every aspect of church life was severely disrupted and restricted by the COVID-19 pandemic during 2020 and our greatest achievement was the extent to which we continued to engage with most church members as well as those in the wider community, during times when there were significant restrictions on gathering. Having suddenly found in March that church buildings were to be closed, our online capabilities had to expand rapidly and soon many of our services and other activities were continuing, using Facebook and Zoom. They attracted a following that included not only church members, but people who did not regularly attend church services. Our online services were well attended, including most of the main services at Easter, Advent and Christmas. Inevitably, there were no weddings and few baptisms. Because of the restrictions, many families were not able to have funeral services in the church buildings, but were able to hold services at the crematorium or cemetery. As restrictions were lifted, some funerals began to be held in church. Our Pastoral Team continued to offer support to the housebound and those who were not be able to access the internet, by means of regular telephone calls and prayer resources sent by post. Using COVID-19 precautions, craft materials and other resources were distributed to families. Our weekly news sheet was widely distributed by email to keep everyone in touch and our monthly magazine continued by email where possible or by post to those without internet access. _Page 5_ ## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** ## **Trustees Report for the year ended 31[st] December 2020** The parish continued to participate in the 3-year Partnership for Missional Church Programme, which aims to increase our outward-looking focus and involvement with the local community. The work to conserve the ruined arch in Reach was able to proceed when restrictions allowed, and was completed in the summer. It was well received in the village and should now be stable enough to withstand the weather for many years to come. The development plans for Reach Church were delayed because of COVID-19 restrictions, but towards the end of the year, progress was made in preparation of the final detailed plans and it is hoped that building work will be able to start in the summer of 2021. Although some essential repairs have been done at Burwell church, no further work on future developments has been possible. All the Diocesan Policies with regard to Safeguarding have been fully implemented and there have been no matters of concern. ## **Financial Review** Unrestricted incoming resources were significantly reduced this year at £101,243, the bulk of which derives from the generous giving of Church members. Resources expended of £94,509 were much reduced partly due to closure of Church buildings. The PCC policy of making charitable grants of ten per cent of unrestricted income was maintained, and £7,125 was transferred to the restricted Mission Giving fund to support this. The net surplus on unrestricted funds was £4,609 compared to the previous year’s surplus of £1,832. Unrestricted reserves stood at £111,845 at the end of the year. Restricted funds recorded total incoming resources including transfers of £11,524. Expenditures predominantly on work to repair the ruined arch at Reach were £46,449, and mission giving grants totaled £6,625. The expenditures were offset by a significant investment gain of £60,388 resulting in closing restricted reserves of £1,019,617. In summary, the PCC benefited from a £10,000 retail grant to support the CentrePeace shop during lockdown, but many sources of PCC income were adversely affected by the COVID-19 restrictions. The PCC budget for 2021 shows an expected deficit. It is, however, reassuring that PCC reserves remain in a strong position, and also that the Whitehead investments, necessary to fund the development project, show a further increase in value. ## _**Principal Funding Sources**_ The major regular source of income is charitable donations from a generous and committed congregation. Useful additional income is derived from endowment fund dividends and income from Guildhall lettings. The church shop is merely self-supporting. _Page 6_ ## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** ## **Trustees Report for the year ended 31[st] December 2020** ## _**Investment Policy**_ The PCC reserves and endowment funds are invested with the CBF Church of England Funds, and in appropriate deposit accounts which are reviewed regularly. ## _**Reserves Policy**_ The PCC aims to maintain unrestricted reserves at a level of between six months and eighteen months average expenditure. At the end of 2020 unrestricted cash reserves were approximately £112,000, with annual unrestricted expenditure of £96,000. ## **Future Developments** We look forward to fully re-opening our church buildings in the months to come and also to finding ways to continue with some of our online activities and to developing the relationships with new people who have joined us through this new medium. We hope to be able to move forward again with plans to develop both of our buildings, St Mary’s and St Etheldreda’s, and hope that they will benefit the whole community. We will not however forget that they remain first and foremost places of worship and peace for all. As we engage further with the Partnership for Missional Church process, we hope to have a better understanding of the needs of both our existing congregations and the wider communities and to discern God’s purposes for us at this time. Approved at the Parochial Church Council Meeting on 14[th] April 2021 _Signed:_ Rev’d Canon Dr Eleanor Williams (Vicar) _Page 7_ ## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH** **Independent Examiner’s Report on the Accounts** ## **Responsibilities of trustees and examiner** The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, and that an independent examination is needed. This report on the accounts of the PCC for the year ended 31 December 2020 is in respect of an examination carried out under section 145 of the Charities Act 2011, following procedures laid down in the General Directions given by the Charity Commission. The report will state whether particular matters have come to my attention. ## **Basis of independent examiner's statement** My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## **Independent examiner's statement** In connection with my examination no matter has come to my attention: a) 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 accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or b) to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## _**Signed:**_ Mr Simon Rogers 1 Pound Close Burwell, Cambridge, CB25 0EP April 2021 _Page 8_ ## **Statement of Financial Activities** ||**Unrestricted Designated**
**Restricted Endowment**
**Total**
**Prior year**
**funds**
**funds**
**funds**
**funds**
**funds**
**total funds**| |---|---| |**Incoming resources**
Incoming resources from generated funds
Voluntary income
Activities for generating funds
Investment income
Other voluntary income
Incoming resources from charitable activities
Other incoming resources
**Total income**
**Resources used**
Grants
Charitable activities
Charitable activities - support costs
Governance costs
Costs of generating funds
**Total expenditure**
**Net income / (expenditure) resources before**
**transfer**
**Transfers**
Gross transfers between funds - in
Gross transfers between funds - out
**Other recognised gains / losses**
Gains / losses on investment assets
Gains on revaluation, fixed assets, charity's own
use
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
**Represented by**
**Unrestricted**
General fund
Reach Legacy Fund
**Designated**
Building Work Fund
Capital Expenditure Fund
Mission Giving Fund
**Restricted**
Agency collection
Bridgeman Trust Fund
Building Work Fund
Burwell Sunday School Fund
Capital Expenditure Fund
Mission Giving Fund
Reach Legacy Fund
St Andrew's Church Fund
Youth Work and Sunday School F|77,057
—
3,510
—
80,567
81,703
718
—
—
—
718
3,713
5,714
8,034
181
—
13,931
14,659
572
—
707
—
1,279
1,691
8,969
—
—
—
8,969
17,218
176
—
—
—
176
680| ||**93,208**
**8,034**
**4,399**
**—**
**105,642**
**119,666**
120
—
6,625
—
6,745
9,804
92,626
—
46,389
—
139,016
117,358
1,741
—
—
—
1,741
2,844
—
—
—
—
—
—
20
—
59
—
79
197| ||**94,508**
**—**
**53,074**
**—**
**147,583**
**130,204**| ||**(1,300)**
**8,034**
**(48,674)**
**—**
**(41,940)**
**(10,538)**
25,000
—
7,125
—
32,125
22,025
(7,125)
(20,000)
(5,000)
—
(32,125)
(22,025)
—
—
60,388
—
60,388
122,748
—
—
—
—
—
—| ||**16,574**
**(11,965)**
**13,838**
**—**
**18,447**
**112,209**| ||**54,692**
**52,544**
**1,005,778**
**—**
**1,113,015**
**1,000,805**| ||**71,266**
**40,578**
**1,019,617**
**—**
**1,131,462**
**1,113,015**
38,991
—
—
—
38,991
27,894
32,274
—
—
—
32,274
26,798
—
—
—
—
—
—
—
40,578
—
—
40,578
52,544
—
—
—
—
—
—
—
—
—
—
—
—
—
—
1,311
—
1,311
1,226
—
—
40,235
—
40,235
37,901
—
—
3,756
—
3,756
3,756
—
—
—
—
—
—
—
—
500
—
500
—
—
—
684,344
—
684,344
691,606
—
—
286,822
—
286,822
268,367
—
—
2,647
—
2,647
2,919| _Page 9_ ## **Balance sheet** |**Class and code**
**Description**|**This year**
**Last year**| |---|---| |**Fixed assets**
Audio visual equipment
Kitchen equipment
Reach Legacy Acc
Reach Legacy Inc
St Andrew's mission church
Bridgeman trust
Burwell Sunday school
**Total Fixed assets**
**Current assets**
Barclays current account
Barclays deposit account
CBF deposit account
Barclays current account - Bldg
Floats
CBF deposit account - Bldg
Gift aid tax recoverable
Stock - CentrePeace
Accounts Receivable
**Total Current assets**
**Liabilities**
Post Box Account
Agency collections
Accounts Payable
**Total Liabilities**
**Net Asset surplus(deficit)**
**Reserves**
Excess / (deficit) to date
Starting balances
Gains/(losses) on investment assets
**Total Reserves**
**Represented by funds**
Unrestricted
Designated
Restricted
Endowment
**Total**|1,315
1,650
600
720
340,022
308,547
161,228
150,854
286,822
268,367
1,311
1,226
3,756
3,756| ||**795,056**
**735,123**
32,104
12,887
20,095
5,082
241,482
317,745
10,675
8,466
260
260
29,387
29,263
2,501
3,358
50
50
1,478
2,309| ||**338,034**
**379,423**
—
—
—
—
1,629
1,532| ||**1,629**
**1,532**| ||**1,131,462**
**1,113,015**| ||(41,940)
451,851
1,113,015
538,415
60,388
122,748| ||**1,131,462**
**1,113,015**
71,266
54,692
40,578
52,544
1,019,617
1,005,778
—
—| ||**1,131,462**
**1,113,015**| Approved at the Parochial Church Council Meeting on 14[th] April 2021 _Signed:_ Rev’d Canon Dr Eleanor Williams (Vicar) Terry Chalmers (Treasurer) _Page 10_ ## **Analysis of income and expenditure** |**Total**
**Unrestricted Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**INCOME AND ENDOWMENTS**
**Incoming resources from generated funds - Voluntary income**
Bank giving - Bldg
—
—
2,880
—
2,880
2,880
Bank giving
39,129
—
—
—
39,129
35,124
Envelope giving
4,732
—
—
—
4,732
8,272
Other planned giving
11,020
—
—
—
11,020
1,020
Plate collections
2,393
—
—
—
2,393
12,769
Gift aid tax recoverable - Bldg
—
—
630
—
630
630
Gift aid tax recoverable
10,598
—
—
—
10,598
13,094
WeddingFuneral collections
432
—
—
—
432
150
Gift days - Bldg
—
—
—
—
—
—
Gift day donations
—
—
—
—
—
—
Donations - Bldg
—
—
—
—
—
—
Donations
8,750
—
—
—
8,750
7,764
Total
77,057
—
3,510
—
80,567
81,703
**Incoming resources from generated funds - Activities for generating funds**
Fete proceeds
—
—
—
—
—
2,152
Fund raising events - Bldg
—
—
—
—
—
—
Other fund raising events
718
—
—
—
718
1,561
Leaflet sales
—
—
—
—
—
—
Total
718
—
—
—
718
3,713
**Incoming resources from generated funds - Investment income**
Dividends
4,516
8,034
—
—
12,551
12,185
Dividends - Sunday School
—
—
57
—
57
63
Bank deposit interest - Bldg
—
—
124
—
124
25
Bank deposit interest
1,198
—
—
—
1,198
2,384
Total
5,714
8,034
181
—
13,931
14,659
**Incoming resources from generated funds - Other voluntary income**
Youth work and outreach income
—
—
707
—
707
1,190
Appeals
—
—
—
—
—
—
Legacies - Bldg
—
—
—
—
—
—
Legacies
500
—
—
—
500
—
Wall safe
72
—
—
—
72
501
Total
572
—
707
—
1,279
1,691
**Incoming resources from charitable activities**
CentrePeace takings
1,061
—
—
—
1,061
4,953
Guildhall lettings
6,089
—
—
—
6,089
7,733
WeddingFuneral fees
1,818
—
—
—
1,818
4,531
Total
8,969
—
—
—
8,969
17,218
**Other incoming resources**
Other income
176
—
—
—
176
680
Other income - S/School
—
—
—
—
—
—
Total
176
—
—
—
176
680|**Total**
**Unrestricted Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**INCOME AND ENDOWMENTS**
**Incoming resources from generated funds - Voluntary income**
Bank giving - Bldg
—
—
2,880
—
2,880
2,880
Bank giving
39,129
—
—
—
39,129
35,124
Envelope giving
4,732
—
—
—
4,732
8,272
Other planned giving
11,020
—
—
—
11,020
1,020
Plate collections
2,393
—
—
—
2,393
12,769
Gift aid tax recoverable - Bldg
—
—
630
—
630
630
Gift aid tax recoverable
10,598
—
—
—
10,598
13,094
WeddingFuneral collections
432
—
—
—
432
150
Gift days - Bldg
—
—
—
—
—
—
Gift day donations
—
—
—
—
—
—
Donations - Bldg
—
—
—
—
—
—
Donations
8,750
—
—
—
8,750
7,764
Total
77,057
—
3,510
—
80,567
81,703
**Incoming resources from generated funds - Activities for generating funds**
Fete proceeds
—
—
—
—
—
2,152
Fund raising events - Bldg
—
—
—
—
—
—
Other fund raising events
718
—
—
—
718
1,561
Leaflet sales
—
—
—
—
—
—
Total
718
—
—
—
718
3,713
**Incoming resources from generated funds - Investment income**
Dividends
4,516
8,034
—
—
12,551
12,185
Dividends - Sunday School
—
—
57
—
57
63
Bank deposit interest - Bldg
—
—
124
—
124
25
Bank deposit interest
1,198
—
—
—
1,198
2,384
Total
5,714
8,034
181
—
13,931
14,659
**Incoming resources from generated funds - Other voluntary income**
Youth work and outreach income
—
—
707
—
707
1,190
Appeals
—
—
—
—
—
—
Legacies - Bldg
—
—
—
—
—
—
Legacies
500
—
—
—
500
—
Wall safe
72
—
—
—
72
501
Total
572
—
707
—
1,279
1,691
**Incoming resources from charitable activities**
CentrePeace takings
1,061
—
—
—
1,061
4,953
Guildhall lettings
6,089
—
—
—
6,089
7,733
WeddingFuneral fees
1,818
—
—
—
1,818
4,531
Total
8,969
—
—
—
8,969
17,218
**Other incoming resources**
Other income
176
—
—
—
176
680
Other income - S/School
—
—
—
—
—
—
Total
176
—
—
—
176
680| |---|---| ||8,969
—
—
—
8,969
17,218
176
—
—
—
176
680
—
—
—
—
—
—| ||176
—
—
—
176
680| ||| |**INCOME TOTAL**|93,208
8,034
4,399
—
105,642
119,666| _Page 11_ ## **EXPENDITURE** |**EXPENDITURE**|| |---|---| |**Grants**
Overseas missions
—
—
1,050
—
1,050
1,650
Overseas relief agencies
—
—
1,250
—
1,250
1,737
Home missions and Societies
120
—
4,325
—
4,445
5,816
Uganda
—
—
—
—
—
600
Total
120
—
6,625
—
6,745
9,804
**Charitable activities**
Ministry Share
59,149
—
—
—
59,149
57,654
Clergy expenses
1,381
—
—
—
1,381
2,642
Verger and services costs
407
—
—
—
407
574
Choir and organ costs
2,637
—
—
—
2,637
2,573
Director of Music honorarium
—
—
—
—
—
1,720
Electricity
2,042
—
—
—
2,042
2,318
Electricity - CentrePeace
590
—
—
—
590
862
Electricity - Guildhall
981
—
—
—
981
908
Fuel oil and gas
1,256
—
—
—
1,256
1,495
Gas - Guildhall
956
—
—
—
956
1,201
Water - CentrePeace
104
—
—
—
104
168
Water - Guildhall
284
—
—
—
284
416
Rent - CentrePeace
4,160
—
—
—
4,160
4,160
General rates - CentrePeace
21
—
—
—
21
218
Insurance
4,728
—
—
—
4,728
4,641
Insurance - Guildhall
888
—
—
—
888
864
Telephone - CentrePeace
—
—
—
—
—
—
Maintenance and cleaning
2,731
—
—
—
2,731
3,580
Maintenance - CentrePeace
186
—
—
—
186
151
Cleaning - Guildhall
828
—
—
—
828
828
Repairs and renewals
4,492
—
292
—
4,785
8,668
Maintenance - Guildhall
2,442
—
—
—
2,442
1,775
Building to serve project - Bldg
—
—
1,241
—
1,241
—
Reach Church Re-ordering
—
—
43,819
—
43,819
14,901
Depreciation
455
—
—
—
455
655
Teaching materials
—
—
—
—
—
—
Youth work and outreach expenses
—
—
1,036
—
1,036
1,290
Youth worker bursary
—
—
—
—
—
—
Exchange visits
—
—
—
—
—
—
Stock purchases - CentrePeace
115
—
—
—
115
513
Miscellaneous expenses
1,748
—
—
—
1,748
2,438
Sundry expenses - CentrePeace
39
—
—
—
39
136
Sundry expenses - Guildhall
—
—
—
—
—
—
Total
92,626
—
46,389
—
139,016
117,358
**Charitable activities - Charitable activities - support costs**
Printing and stationery
1,600
—
—
—
1,600
2,620
Books and publications
141
—
—
—
141
223
Sundry administration costs
—
—
—
—
—
—
Total
1,741
—
—
—
1,741
2,844
**Costs of generating funds**
Costs of fund raising events
20
—
—
—
20
145
Other fund raising costs - Bldg
—
—
59
—
59
52
Other fund raising costs
—
—
—
—
—
—
Total
20
—
59
—
79
197|—
—
1,050
—
1,050
1,650
—
—
1,250
—
1,250
1,737
120
—
4,325
—
4,445
5,816
—
—
—
—
—
600| ||120
—
6,625
—
6,745
9,804
59,149
—
—
—
59,149
57,654
1,381
—
—
—
1,381
2,642
407
—
—
—
407
574
2,637
—
—
—
2,637
2,573
—
—
—
—
—
1,720
2,042
—
—
—
2,042
2,318
590
—
—
—
590
862
981
—
—
—
981
908
1,256
—
—
—
1,256
1,495
956
—
—
—
956
1,201
104
—
—
—
104
168
284
—
—
—
284
416
4,160
—
—
—
4,160
4,160
21
—
—
—
21
218
4,728
—
—
—
4,728
4,641
888
—
—
—
888
864
—
—
—
—
—
—
2,731
—
—
—
2,731
3,580
186
—
—
—
186
151
828
—
—
—
828
828
4,492
—
292
—
4,785
8,668
2,442
—
—
—
2,442
1,775
—
—
1,241
—
1,241
—
—
—
43,819
—
43,819
14,901
455
—
—
—
455
655
—
—
—
—
—
—
—
—
1,036
—
1,036
1,290
—
—
—
—
—
—
—
—
—
—
—
—
115
—
—
—
115
513
1,748
—
—
—
1,748
2,438
39
—
—
—
39
136
—
—
—
—
—
—| ||1,741
—
—
—
1,741
2,844
20
—
—
—
20
145
—
—
59
—
59
52
—
—
—
—
—
—| ||20
—
59
—
79
197| |**EXPENDITURE TOTAL**|94,508
—
53,074
—
147,583
130,204| ||| |**GRAND TOTAL**|(1,300)
8,034
(48,674)
—
(41,940)
(10,538)| _Page 12_ ## **THE PCC OF THE ECCLESIASTICAL PARISH OF ST MARY THE VIRGIN BURWELL WITH ST ETHELDREDA AND THE HOLY TRINITY REACH Notes to the Financial Statements for year ended 31[st] December 2020** ## **STATEMENT OF ACCOUNTING POLICIES** The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, together with applicable accounting standards and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005). The financial statements have been prepared under the historical cost convention. ## **Funds** General 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. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. Restricted funds represent amounts given to the PCC where the donor has specified that the funds are spent on a particular purpose. - ## **Incoming Resources** ## _Voluntary income_ Collections are recognised when received by the PCC. Gift Aid donations are administered directly by the Church and the Gift Aid is recognised as income at the same time that the donation is recognised as income, which is when the donation is received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal -1 (1) entitlement, the ultimate receipt is virtually certain, and the monetary value can be measured reliably. Amounts charged and raised at church events, such as money for food provided, and sale of books and craft items at the church shop, are recognised as income. Associated expenditure is recognised separately under Resources Expended. ## _Gifts in kind_ Gifts in kind are accounted for at a reasonable estimate of their value at the time of gift to the PCC, if material and feasible, or else at the amount actually realised from their disposal. _Rental income_ Rental income from the letting of church premises is recognised when the rent is due in accordance with the arrangement, lease or licence. _Income from investments_ Dividends and interest are accounted for when receivable. ## **Resources Expended** ## _Liabilities_ Liabilities are recognised as soon as the legal or constructive obligation arises. _Grants payable_ These are recognised in the accounts when a commitment has been made externally and there are no pre-conditions still to be met for entitlement to the grant which remain within the control of the PCC. _Activities directly relating to the work of the Church_ The diocesan quota or ministry share is accounted for when payable. Any quota unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. _Governance costs Page 13_ These could include the costs of the preparation and audit of the statutory accounts and the cost of any legal advice to trustees on governance or constitutional matters. ## **Fixed Assets** ## _Consecrated land and buildings and movable church furnishings_ Consecrated and beneficed property is excluded from the accounts by Section 10(2) (a) and (c) of the Charities Act 2011. No value is placed on moveable church furnishings held by the church wardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities and separately disclosed. ## _Capitalisation of tangible fixed assets_ Tangible fixed assets are capitalised if they will be used for more than one year and cost over £300. ## _Depreciation of tangible fixed assets_ Depreciation is provided on all fixed assets on a straight line basis calculated to write off the cost over their expected useful lives, as follows: ||||Short-life electrical
equipment|Short-life electrical
equipment|Short-life electrical
equipment||4
years|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Other fittings and
equipment||||10
years|||||| |||||||||||||| No depreciation is provided on buildings due to their high residual value. **Stock** Stock is second hand books and craft items held for sale in the Church shop. It is valued at the lower of cost and net realisable value, with no value given to s/hand books. ## **Current Assets** Amounts owing to the PCC at 31 December in respect of fees, rents, grants or other income, less provision for amounts that may prove uncollectable, are shown as other debtors. ## **Taxation** The PCC is a charity and as such is not liable to taxation. The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report. _Page 14_