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 2022
Registered Charity No 1129567
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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 2022
PCC Members during the year
Ex-officio members
Rev Canon Dr Eleanor Williams
Incumbent
Rev Paula Spalding
Associate Priest
Stephen Martin Wendy Smith
Churchwarden Churchwarden
Janine Stewart Valerie Badcock
Joint Secretary Joint Secretary
Deanery Synod Representatives
Joanna Proctor Christine Fleming
Elected Members
Thomas Elton Caroline Smith Robin Proctor Simon Ogilvie Katherine Ogilvie Sally Swann
Churchwarden’s Assistant Churchwarden’s Assistant
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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 2022
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 1 Angel Lane Suffolk London CB8 8NH EC4R 3AB
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.
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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 2022
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.
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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 2022
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
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Our daily lives
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Our service in our communities & in the world
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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
Our pattern of services in Burwell was restored this year, following the disruption caused by the Covid pandemic and numbers attending have gradually increased. Three regular events which make good use of our refreshment area have also proved popular. The new monthly Café church starts with time for chat, refreshments and craft activities and continues with a short service. The midweek communion service has been developed to include a time for socialising and coffee afterwards and Refresh Café, our weekly group for babies and toddlers with their parents and carers continues to thrive, with more than 50 attending on some occasions.
One of the highlights of the year was the late Queen’s Platinum Jubilee. Crafters throughout the village made thousands of butterflies which were hung from the top of the tower as well as festooning the inside of the church. This was a wonderful way for the whole community to come together to create a symbol of peace and hope. Sadly, later in the year, we also marked the Queens funeral, providing space for people to reflect and pay their respects.
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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 2022
Our partnerships within the community have continued to grow and we are involved in the distribution of excess food from the local supermarket and also with provision of assistance to those in need in these difficult times.
The building project in Reach was in progress throughout the year and services were held in the village hall. We are very pleased with the changes and we look forward to developing the use of the building. The Guildhall and CentrePeace both required significant repairs this year, which were all successfully completed .
Financial Review
Unrestricted incoming resources were lower than last year at £107,934. The bulk of this income derives from the generous giving of Church members, but last year also benefited from a substantial legacy. Resources expended of £103,277 showed reductions from pre Covid levels, partly due to less use of Church buildings, but were affected by heavy expenditure on repairs to the Guildhall and CentrePeace shop. The PCC policy of making charitable grants of ten per cent of unrestricted income was maintained, and £7,235 was transferred to the restricted Mission Giving fund to support this. Both our Churches benefited from £600 heating Grant from the Diocese. The net deficit on unrestricted funds was £2,578 compared to the previous year’s surplus of £3,941. Unrestricted reserves stood at £113,208 at the end of the year.
Restricted funds recorded total incoming resources including transfers of £12,738. Expenditures on the Reach re-ordering project which continued throughout the year totaled £357,127. Full advantage is being taken of the VAT recovery available from the Listed Places of Worship Grant Scheme. Mission giving grants were £8,562. Due to the uncertain economic situation, significant investment losses were recorded of £66,586 resulting in closing restricted reserves of £677,389.
Work on St Etheldreda’s was not quite finished at the end of the year, but the Church has been used for several services, already demonstrating the large benefits of a warm and well insulated building together with new kitchen and toilet facilities all made possible by the funds provided from the generous Whitehead legacy.
In summary, although reserves are strong, it is becoming a challenge to maintain Church income at a level that does not deplete these reserves year on year. This is particularly so now that energy costs are set to rise hugely in 2023 as we move out of low fixed price contracts to today’s inflated price levels.
Safeguarding Statement
The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops’ guidance on safeguarding children and vulnerable adults).
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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 2022
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.
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 2022 unrestricted cash reserves were approximately £113,000, with annual unrestricted expenditure of £104,000.
Future Developments
At St Mary’s, we plan to continue developing our links with the community and working with families. We have set up a group to consider potential alternative methods of heating that could be used in future to reduce our carbon footprint.
As the development project at St Etheldreda’s is completed, we look forward to using the building for services and events, as well as for the benefit of the wider community. We will also work on landscaping the grounds for biodiversity, with a view to registering under the Quiet Gardens scheme
Approved at the Parochial Church Council meeting on 22[nd] March 2023
Signed:
Rev Canon Dr Eleanor Williams (Vicar)
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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 2022 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
11[th] February 2023
Mr Simon Rogers 1 Pound Close Burwell, Cambridge, CB25 0EP
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Statement of Financial Activities
| Unrestricted Restricted Endowment Total Prior year 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 Gains / losses on investment assets Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses 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 |
72,256 3,950 — 76,205 73,882 1,647 — — 1,647 645 16,118 451 — 16,570 13,208 98 1,102 — 1,200 15,718 17,684 — — 17,684 12,716 131 — — 131 2,051 |
| 107,934 5,503 — 113,437 118,220 625 8,562 — 9,187 7,560 100,448 357,127 — 457,575 137,114 2,179 — — 2,179 1,214 — — — — — 26 102 — 128 84 |
|
| 103,277 365,791 — 469,068 145,972 — (66,586) — (66,586) 109,104 |
|
| 4,657 (426,874) — (422,217) 81,352 25,000 7,235 — 32,235 24,100 (32,235) — — (32,235) (24,100) — — — — — |
|
| (2,578) (419,639) — (422,217) 81,352 |
|
| 115,786 1,097,028 — 1,212,814 1,131,462 |
|
| 113,208 677,389 — 790,597 1,212,814 53,622 — — 53,622 46,808 34,081 — — 34,081 32,076 — — — — — 25,505 — — 25,505 36,902 — — — — — — — — — — — 1,322 — 1,322 1,499 — 47,084 — 47,084 43,677 — 3,757 — 3,757 3,757 — — — — — — — — — 500 — 333,047 — 333,047 717,332 — 289,260 — 289,260 327,853 — 2,920 — 2,920 2,411 |
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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 I 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 |
520 780 360 480 — 134,843 162,599 184,293 289,260 327,853 1,322 1,499 3,757 3,757 |
| 457,817 653,505 111,788 24,575 22,619 12,598 143,728 467,630 17,170 14,102 260 260 29,789 29,403 3,616 2,707 200 200 5,656 8,888 |
|
| 334,826 560,363 — — — — 2,047 1,054 |
|
| 2,047 1,054 |
|
| 790,597 1,212,814 |
|
| (355,632) (27,752) 1,212,814 1,131,462 (66,586) 109,104 |
|
| 790,597 1,212,814 87,703 78,884 25,505 36,902 677,389 1,097,028 — — |
|
| 790,597 1,212,814 |
Approved at the Parochial Church Council Meeting on 22[nd] March 2023
Signed:
Rev’d Canon Dr Eleanor Williams (Vicar)
Terry Chalmers (Treasurer)
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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 | — | — | 2,570 | — | 2,570 | 2,880 |
| 1101CH - Bank giving | 40,412 | — | — | — | 40,412 | 41,408 |
| 1102CH - Envelope giving | 4,433 | — | — | — | 4,433 | 4,508 |
| 1103CP - Other planned giving | 1,110 | — | — | — | 1,110 | 3,627 |
| 1104CH - Plate collections | 3,049 | — | 827 | — | 3,876 | 1,565 |
| 1105BF - Gift aid tax recoverable - | — | — | 553 | — | 553 | 630 |
| Bldg | ||||||
| 1105CH - Gift aid tax recoverable | 11,853 | — | — | — | 11,853 | 11,197 |
| 1106CH - WeddingFuneral | 170 | — | — | — | 170 | 10 |
| collections | ||||||
| 1107BF - Gift days - Bldg | — | — | — | — | — | — |
| 1107CH - Gift day donations | 3,530 | — | — | — | 3,530 | — |
| 1108BF - Donations - Bldg | — | — | — | — | — | — |
| 1108CH - Donations | 7,700 | — | — | — | 7,700 | 8,057 |
| Total | 72,256 | — | 3,950 | — | 76,205 | 73,882 |
| Incoming resources from generated funds - Activities for generating funds | ||||||
| 1401CH - Fete proceeds | — | — | — | — | — | — |
| 1402BF - Fund raising events - Bldg | — | — | — | — | — | — |
| 1402CH - Other fund raising events | 1,647 | — | — | — | 1,647 | 645 |
| 1403CH - Leaflet sales | — | — | — | — | — | — |
| Total | 1,647 | — | — | — | 1,647 | 645 |
| Incoming resources from generated funds - Investment income | ||||||
| 1501CH - Dividends | 4,836 | 8,603 | — | — | 13,439 | 12,997 |
| 1502SS - Dividends - Sunday School | — | — | 64 | — | 64 | 42 |
| 1503BF - Bank deposit interest - Bldg | — | — | 387 | — | 387 | 15 |
| 1503CH - Bank deposit interest | 2,680 | — | — | — | 2,680 | 153 |
| Total | 7,515 | 8,603 | 451 | — | 16,570 | 13,208 |
| Incoming resources from generated funds - Other | voluntary | income | ||||
| 1201BF - Grants received - Bldg | — | — | — | — | — | — |
| 1201EL - Grants received - Youth | — | — | — | — | — | — |
| exchge | ||||||
| 1201YW - Youth work and outreach | — | — | 1,102 | — | 1,102 | 145 |
| income | ||||||
| 1202CH - Appeals | — | — | — | — | — | — |
| 1203BF - Legacies - Bldg | — | — | — | — | — | — |
| 1203CH - Legacies | — | — | — | — | — | 15,500 |
| 1204CH - Wall safe | 98 | — | — | — | 98 | 73 |
| Total | 98 | — | 1,102 | — | 1,200 | 15,718 |
| Incoming resources from charitable activities | ||||||
| 1301CP - CentrePeace takings | 3,214 | — | — | — | 3,214 | 986 |
| 1302GH - Guildhall lettings | 8,057 | — | — | — | 8,057 | 7,221 |
| 1303CH - WeddingFuneral fees | 6,414 | — | — | — | 6,414 | 4,510 |
| Total | 17,684 | — | — | — | 17,684 | 12,716 |
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| Other incoming resources 1601CH - Other income 1601EL - Other income - Youth exchge 1601SS - Other income - S/School 1602CH - Insurance claims Total |
131 — — — 131 2,051 — — — — — — — — — — — — — — — — — — |
|---|---|
| 131 — — — 131 2,051 |
|
| INCOME TOTAL | 99,331 8,603 5,503 — 113,437 118,220 |
EXPENDITURE
| Grants 2101CH - Overseas missions 2102CH - Overseas relief agencies 2103CH - Home missions and Societies 2110CH - Social Support Total Charitable activities 2201CH - Ministry Share 2202CH - Clergy expenses 2203CH - Verger and services costs 2204CH - Choir and organ costs 2205CH - Director of Music honorarium 2211CH - Electricity 2211CP - Electricity - CentrePeace 2211GH - Electricity - Guildhall 2212CH - Fuel oil and gas 2213GH - Gas - Guildhall 2214CP - Water - CentrePeace 2214GH - Water - Guildhall 2215CP - Rent - CentrePeace 2216CP - General rates - CentrePeace 2217CH - Insurance 2217GH - Insurance - Guildhall 2218CP - Telephone - CentrePeace 2221CH - Maintenance and cleaning 2221CP - Maintenance - CentrePeace 2221GH - Cleaning - Guildhall 2222CH - Repairs and renewals 2222GH - Maintenance - Guildhall 2223BF - Building to serve project - Bldg 2224CH - Reach Church Re-ordering 2225CH - Depreciation 2231SS - Teaching materials 2231YW - Youth work and outreach expenses 2232YW - Youth worker bursary 2233EL - Exchange visits 2241CP - Stock purchases - CentrePeace 2242CH - Miscellaneous expenses |
— — 1,500 — 1,500 1,200 — — 2,055 — 2,055 1,850 120 — 5,007 — 5,127 4,510 505 — — — 505 — |
|---|---|
| 625 — 8,562 — 9,187 7,560 58,021 — — — 58,021 59,112 2,184 — — — 2,184 1,566 917 — — — 917 946 1,213 — — — 1,213 1,575 — — — — — — 2,635 — — — 2,635 2,014 715 — — — 715 153 1,811 — — — 1,811 574 1,035 — — — 1,035 613 1,605 — — — 1,605 1,320 178 — — — 178 158 426 — — — 426 514 4,160 — — — 4,160 4,160 163 — — — 163 61 4,941 — — — 4,941 4,903 900 — — — 900 900 — — — — — — 3,366 — — — 3,366 3,134 4,395 — — — 4,395 36 922 — — — 922 324 3,158 — — — 3,158 4,336 5,270 — — — 5,270 12,872 — — — — — — — — 356,470 — 356,470 34,897 380 — — — 380 655 — — — — — 104 — — 657 — 657 320 — — — — — — — — — — — — 151 — — — 151 303 1,445 — — — 1,445 1,564 |
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| 2242CP - Sundry expenses - CentrePeace 36 — — — 36 — 2242GH - Sundry expenses - Guildhall 420 — — — 420 — Total 100,448 — 357,127 — 457,575 137,114 Charitable activities - Charitable activities - support costs 2301CH - Printing and stationery 1,567 — — — 1,567 1,100 2302CH - Books and publications 612 — — — 612 114 2303CH - Sundry administration costs — — — — — — Total 2,179 — — — 2,179 1,214 Governance costs 2304CH - Audit fee — — — — — — Total — — — — — — Costs of generating funds 2401BF - Costs of fund raising events - Bldg — — — — — — 2401CH - Costs of fund raising events 26 — — — 26 — 2402BF - Other fund raising costs - Bldg — — 85 — 85 84 2402CH - Other fund raising costs — — 17 — 17 — Total 26 — 102 — 128 84 |
36 — — — 36 — 420 — — — 420 — |
|---|---|
| 2,179 — — — 2,179 1,214 — — — — — — |
|
| — — — — — — — — — — — — 26 — — — 26 — — — 85 — 85 84 — — 17 — 17 — |
|
| 26 — 102 — 128 84 |
|
| EXPENDITURE TOTAL | 103,277 — 365,791 — 469,068 145,972 |
| GRAND TOTAL | (3,946) 8,603 (360,288) — (355,632) (27,752) |
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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 2022
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. Fixed Assets 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.
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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.
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