## **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 2021**
**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 2021**
## **PCC Members during the year**
## Ex-officio members
Rev Canon Dr Eleanor Williams Incumbent
Rev Paula Spalding Associate Priest Stephen Martin Churchwarden Jacqueline Portman Churchwarden Resigned 5[th] November 2021 Janine Stewart Joint Secretary Valerie Badcock Joint Secretary Terry Chalmers Treasurer Deanery Synod Representatives Joanna Proctor Licensed Lay Minister Christine Fleming Elected Members
Thomas Elton Churchwarden’s Assistant Caroline Smith Churchwarden’s Assistant Wendy Smith Churchwarden’s Assistant Myrna Leech Robin Proctor Patricia Chalmers Simon Ogilvie Katherine Ogilvie Simon Portman Resigned 5[th] November 2021 Sally Swann
_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 2021**
## **Vicarage Address:**
The Vicarage 22 Isaacson Road Burwell Cambridge CB25 0AF
**Registered Charity Number:**
1129567
**Independent Examiner:** Mr 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 2021**
## **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 2021**
## **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 as venues for cultural events such as concerts and exhibitions, for smaller community meetings. While recognising our rich heritage, we are moving forward with new facilities to enhance our buildings.
## **Achievements and Performance**
The effects of the COVID pandemic continued to affect all aspects of church life throughout the year. As the vaccination programme rolled out, many people returned to church, but others remained vulnerable or anxious and preferred to worship at home. Our approach throughout has been to protect each other and respect the needs of the most vulnerable, and we therefore continued to offer worship online and through paper resources as well as in person.
Our Fresh Expression, Messy Church for families and Refresh Café for toddlers and their parents or carers continued to meet throughout the year, sometimes on-line, or in the churchyard and it was encouraging to see these groups thriving.
The pandemic gave us many opportunities to work in partnership with the wider community, an approach encouraged by our Partnership for Missional Church programme. One highlight of this was filling the church and churchyard with various representations of angels made by individuals and groups in the village. This display coincided with the presentation of Community Angel awards to people who go the extra mile to support others in the community.
_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 2021**
One highlight of the year was the licensing of Revd Paula Spalding as our Associate Priest by the Archdeacon of Cambridge. Another was a concert by St Martins in the Fields singers, who had supported churches across the country by supplying recordings of hymns to use in on-line and live services. The church was as full as restrictions allowed for both events and the concert raised £500 for church funds.
After many years of delay and planning, a faculty was obtained for the re-ordering of Reach church, using a generous legacy. The scheme will see the installation of a toilet and servery, with new electric heating and efficient insulation to improve the comfort of the church in an eco-friendly way. Planning permission was also granted for alterations to the churchyard to provide level access and a pleasant garden area designed with biodiversity in mind. A firm of builders was appointed and the church was cleared ready for building work to start in January 2022.
## **Financial Review**
Unrestricted incoming resources were significantly above last year at £114,167. Although the bulk of this income derives from the generous giving of Church members, this was lifted by a substantial legacy of £15,500 received this year. Resources expended of £103,128 showed reductions from earlier levels, partly due to less use of Church buildings, but were affected by heavy expenditure on repairs to the Guildhall. The PCC policy of making charitable grants of ten per cent of unrestricted income was maintained, and £7,100 was transferred to the restricted Mission Giving fund to support this. The net surplus on unrestricted funds was £3,941 compared to the previous year’s surplus of £4,609. Unrestricted reserves stood at £115,785 at the end of the year.
Restricted funds recorded total incoming resources including transfers of £11,151. Expenditures predominantly on the Reach re-ordering project were £35,320 and mission giving grants totaled £7,440. The expenditures were offset by a significant investment gain of £109,104 resulting in closing restricted reserves of £1,097,028.
In summary, many sources of PCC income were adversely affected by the COVID-19 restrictions, but the PCC benefited from the legacy from the late Pauline Rogers generously shared by Fordham PCC. The PCC budget for 2022 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.
_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 2021**
## _**Principal Funding Sources**_
The major regular source of income is charitable donations from a generous and committed congregation. Useful additional income is derived from restricted fund dividends and income from Guildhall lettings. The church shop is merely self-supporting.
## _**Investment Policy**_
The PCC reserves and restricted 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 2021 unrestricted cash reserves were approximately £115,000, with annual unrestricted expenditure of £103,000.
## **Future Developments**
We are looking forward to the completion of the church development project in Reach and to continuing to develop our relationships with the communities in both Burwell and Reach.
Approved at the Parochial Church Council meeting on 23[rd] March 2022
_Signed:_
Rev 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 2021 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
6[th] March 2022
_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
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
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
**Represented by**
**Unrestricted**
General fund
Reach Legacy Fund
**Designated**
Capital Expenditure Fund
**Restricted**
Bridgeman Trust Fund
Building Work Fund
Burwell Sunday School Fund
Mission Giving Fund
Reach Legacy Fund
St Andrew's Church Fund
Youth Work and Sunday School F|70,032
—
3,849
—
73,881
80,567
645
—
—
—
645
718
4,827
8,322
57
—
13,207
13,931
15,573
—
144
—
15,718
1,279
12,716
—
—
—
12,716
8,969
2,051
—
—
—
2,051
176|
||**105,845**
**8,322**
**4,051**
**—**
**118,219**
**105,642**
120
—
7,439
—
7,559
6,745
101,793
—
35,320
—
137,114
139,016
1,214
—
—
—
1,214
1,741
—
—
84
—
84
79|
||**103,127**
**—**
**42,843**
**—**
**145,971**
**147,583**|
||**2,717**
**8,322**
**(38,792)**
**—**
**(27,751)**
**(41,940)**
17,000
—
7,100
—
24,100
32,125
(12,100)
(12,000)
—
—
(24,100)
(32,125)
—
—
109,103
—
109,103
60,388|
||**7,617**
**(3,677)**
**77,410**
**—**
**81,351**
**18,447**|
||**71,266**
**40,578**
**1,019,617**
**—**
**1,131,462**
**1,113,015**|
||**78,884**
**36,901**
**1,097,027**
**—**
**1,212,814**
**1,131,462**
46,808
—
—
—
46,808
38,991
32,076
—
—
—
32,076
32,274
—
36,901
—
—
36,901
40,578
—
—
1,498
—
1,498
1,311
—
—
43,676
—
43,676
40,235
—
—
3,756
—
3,756
3,756
—
—
500
—
500
500
—
—
717,331
—
717,331
684,344
—
—
327,853
—
327,853
286,822
—
—
2,410
—
2,410
2,647|
_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**|780
1,315
480
600
134,843
340,022
184,292
161,228
327,853
286,822
1,498
1,311
3,756
3,756|
||**653,505**
**795,056**
24,575
32,104
12,598
20,095
467,630
241,482
14,101
10,675
260
260
29,402
29,387
2,707
2,501
200
50
8,887
1,478|
||**560,362**
**338,034**
—
—
—
—
1,054
1,629|
||**1,054**
**1,629**|
||**1,212,814**
**1,131,462**|
||(27,751)
(41,940)
1,131,462
1,113,015
109,103
60,388|
||**1,212,814**
**1,131,462**
78,884
71,266
36,901
40,578
1,097,027
1,019,617
—
—|
||**1,212,814**
**1,131,462**|
Approved at the Parochial Church Council Meeting on 23[rd] March 2022
_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**
1101BF - Bank giving - Bldg
—
—
2,880
—
2,880
2,880
1101CH - Bank giving
41,408
—
—
—
41,408
39,129
1102CH - Envelope giving
4,508
—
—
—
4,508
4,732
1103CP - Other planned giving
3,627
—
—
—
3,627
11,020
1104CH - Plate collections
1,225
—
339
—
1,564
2,393
1105BF - Gift aid tax recoverable -
Bldg
—
—
630
—
630
630
1105CH - Gift aid tax recoverable
11,197
—
—
—
11,197
10,598
1106CH - WeddingFuneral
collections
9
—
—
—
9
432
1108CH - Donations
8,057
—
—
—
8,057
8,750
Total
70,032
—
3,849
—
73,881
80,567
**Incoming resources from generated funds - Activities for generating funds**
1402CH - Other fund raising events
645
—
—
—
645
718
Total
645
—
—
—
645
718
**Incoming resources from generated funds - Investment income**
1501CH - Dividends
4,676
8,320
—
—
12,997
12,551
1502SS - Dividends - Sunday School
—
—
41
—
41
57
1503BF - Bank deposit interest - Bldg
—
—
15
—
15
124
1503CH - Bank deposit interest
150
2
—
—
153
1,198
Total
4,827
8,322
57
—
13,207
13,931
**Incoming resources from generated funds - Other voluntary income**
1201YW - Youth work and outreach
income
—
—
144
—
144
707
1203CH - Legacies
15,500
—
—
—
15,500
500
1204CH - Wall safe
73
—
—
—
73
72
Total
15,573
—
144
—
15,718
1,279
**Incoming resources from charitable activities**
1301CP - CentrePeace takings
985
—
—
—
985
1,061
1302GH - Guildhall lettings
7,221
—
—
—
7,221
6,089
1303CH - WeddingFuneral fees
4,509
—
—
—
4,509
1,818
Total
12,716
—
—
—
12,716
8,969
**Other incoming resources**
1601CH - Other income
2,051
—
—
—
2,051
176
Total
2,051
—
—
—
2,051
176|**Total**
**Unrestricted Designated**
**Restricted**
**Endowment**
**This year**
**Last year**
**INCOME AND ENDOWMENTS**
**Incoming resources from generated funds - Voluntary income**
1101BF - Bank giving - Bldg
—
—
2,880
—
2,880
2,880
1101CH - Bank giving
41,408
—
—
—
41,408
39,129
1102CH - Envelope giving
4,508
—
—
—
4,508
4,732
1103CP - Other planned giving
3,627
—
—
—
3,627
11,020
1104CH - Plate collections
1,225
—
339
—
1,564
2,393
1105BF - Gift aid tax recoverable -
Bldg
—
—
630
—
630
630
1105CH - Gift aid tax recoverable
11,197
—
—
—
11,197
10,598
1106CH - WeddingFuneral
collections
9
—
—
—
9
432
1108CH - Donations
8,057
—
—
—
8,057
8,750
Total
70,032
—
3,849
—
73,881
80,567
**Incoming resources from generated funds - Activities for generating funds**
1402CH - Other fund raising events
645
—
—
—
645
718
Total
645
—
—
—
645
718
**Incoming resources from generated funds - Investment income**
1501CH - Dividends
4,676
8,320
—
—
12,997
12,551
1502SS - Dividends - Sunday School
—
—
41
—
41
57
1503BF - Bank deposit interest - Bldg
—
—
15
—
15
124
1503CH - Bank deposit interest
150
2
—
—
153
1,198
Total
4,827
8,322
57
—
13,207
13,931
**Incoming resources from generated funds - Other voluntary income**
1201YW - Youth work and outreach
income
—
—
144
—
144
707
1203CH - Legacies
15,500
—
—
—
15,500
500
1204CH - Wall safe
73
—
—
—
73
72
Total
15,573
—
144
—
15,718
1,279
**Incoming resources from charitable activities**
1301CP - CentrePeace takings
985
—
—
—
985
1,061
1302GH - Guildhall lettings
7,221
—
—
—
7,221
6,089
1303CH - WeddingFuneral fees
4,509
—
—
—
4,509
1,818
Total
12,716
—
—
—
12,716
8,969
**Other incoming resources**
1601CH - Other income
2,051
—
—
—
2,051
176
Total
2,051
—
—
—
2,051
176|
|---|---|
||12,716
—
—
—
12,716
8,969
2,051
—
—
—
2,051
176|
||2,051
—
—
—
2,051
176|
|**INCOME TOTAL**|105,845
8,322
4,051
—
118,219
105,642|
_Page 11_
## **EXPENDITURE**
|**EXPENDITURE**||
|---|---|
|**Grants**
2101CH - Overseas missions
—
—
1,200
—
1,200
1,050
2102CH - Overseas relief agencies
—
—
1,850
—
1,850
1,250
2103CH - Home missions and
Societies
120
—
4,389
—
4,509
4,445
Total
120
—
7,439
—
7,559
6,745
**Charitable activities**
2201CH - Ministry Share
59,112
—
—
—
59,112
59,149
2202CH - Clergy expenses
1,566
—
—
—
1,566
1,381
2203CH - Verger and services costs
945
—
—
—
945
407
2204CH - Choir and organ costs
1,574
—
—
—
1,574
2,637
2211CH - Electricity
2,013
—
—
—
2,013
2,042
2211CP - Electricity - CentrePeace
152
—
—
—
152
590
2211GH - Electricity - Guildhall
574
—
—
—
574
981
2212CH - Fuel oil and gas
613
—
—
—
613
1,256
2213GH - Gas - Guildhall
1,320
—
—
—
1,320
956
2214CP - Water - CentrePeace
158
—
—
—
158
104
2214GH - Water - Guildhall
514
—
—
—
514
284
2215CP - Rent - CentrePeace
4,160
—
—
—
4,160
4,160
2216CP - General rates -
CentrePeace
61
—
—
—
61
21
2217CH - Insurance
4,903
—
—
—
4,903
4,728
2217GH - Insurance - Guildhall
900
—
—
—
900
888
2221CH - Maintenance and cleaning
3,133
—
—
—
3,133
2,731
2221CP - Maintenance -
CentrePeace
36
—
—
—
36
186
2221GH - Cleaning - Guildhall
324
—
—
—
324
828
2222CH - Repairs and renewals
4,335
—
—
—
4,335
4,785
2222GH - Maintenance - Guildhall
12,872
—
—
—
12,872
2,442
2223BF - Building to serve project
—
—
—
—
—
1,241
2224CH - Reach Church Re-ordering
—
—
34,896
—
34,896
43,819
2225CH - Depreciation
655
—
—
—
655
455
2231SS - Teaching materials
—
—
104
—
104
—
2231YW - Youth work and outreach
expenses
—
—
319
—
319
1,036
2241CP - Stock purchases -
CentrePeace
303
—
—
—
303
115
2242CH - Miscellaneous expenses
1,564
—
—
—
1,564
1,748
2242CP - Sundry expenses -
CentrePeace
—
—
—
—
—
39
Total
101,793
—
35,320
—
137,114
139,016
**Charitable activities - Charitable activities - support costs**
2301CH - Printing and stationery
1,100
—
—
—
1,100
1,600
2302CH - Books and publications
114
—
—
—
114
141
Total
1,214
—
—
—
1,214
1,741
**Costs of generating funds**
2401CH - Costs of fund raising
events
—
—
—
—
—
20
2402BF - Other fund raising costs -
Bldg
—
—
84
—
84
59
Total
—
—
84
—
84
79|—
—
1,200
—
1,200
1,050
—
—
1,850
—
1,850
1,250
120
—
4,389
—
4,509
4,445|
||120
—
7,439
—
7,559
6,745
59,112
—
—
—
59,112
59,149
1,566
—
—
—
1,566
1,381
945
—
—
—
945
407
1,574
—
—
—
1,574
2,637
2,013
—
—
—
2,013
2,042
152
—
—
—
152
590
574
—
—
—
574
981
613
—
—
—
613
1,256
1,320
—
—
—
1,320
956
158
—
—
—
158
104
514
—
—
—
514
284
4,160
—
—
—
4,160
4,160
61
—
—
—
61
21
4,903
—
—
—
4,903
4,728
900
—
—
—
900
888
3,133
—
—
—
3,133
2,731
36
—
—
—
36
186
324
—
—
—
324
828
4,335
—
—
—
4,335
4,785
12,872
—
—
—
12,872
2,442
—
—
—
—
—
1,241
—
—
34,896
—
34,896
43,819
655
—
—
—
655
455
—
—
104
—
104
—
—
—
319
—
319
1,036
303
—
—
—
303
115
1,564
—
—
—
1,564
1,748
—
—
—
—
—
39|
||1,214
—
—
—
1,214
1,741
—
—
—
—
—
20
—
—
84
—
84
59|
||—
—
84
—
84
79|
|**EXPENDITURE TOTAL**|103,127
—
42,843
—
145,971
147,583|
|||
|**GRAND TOTAL**|2,717
8,322
(38,792)
—
(27,751)
(41,940)|
_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 2021**
## **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_
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. _Page 13_
## **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_