ST LUKE’S CHURCH Norfolk Road, Maidenhead
ANNUAL REPORT & FINANCIAL STATEMENTS
OF
THE PAROCHIAL CHURCH COUNCIL
for the year ended 31st December 2021
Registered with the Charity Commission, No. 1129951
Vicar:
The Reverend Sally Lynch
Church Wardens: Jacqueline Lewis & John Salter
Interim Treasurer:
Dave Sopp
Secretary to the PCC: Jeanette Lock
Bankers:
Royal Bank of Scotland PLC
and
Lloyds Bank PLC 45 High Street, Maidenhead, SL6 1JS
Independent Examiner: Robin M. Clutterham FCMA
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Parochial Church Council of St. Luke’s Parish Church, Maidenhead Annual Report for 2021
Aims and Purposes
St Luke's Parochial Church Council (PCC) has the responsibility for co-operating with the incumbent, the Reverend Sally Lynch, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of all the church buildings, these all being situated in Norfolk Road, Maidenhead. It is also responsible for safeguarding in all aspects of the church’s life.
Objectives and Activities
The PCC is committed to enabling as many people as possible to worship at the church and to become part of the parish community at St. Luke’s. The PCC maintains an overview of worship throughout the parish. Our worship and other activities put faith into practice through prayer, scripture, music, and sacrament.
When planning our activities for the year, we have considered the Commission’s guidance on public benefit and the supplementary guidance on charities for the advancement of religion. We try to enable people to live out their faith through:
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Worship, prayer and nurturing faith; learning about the Gospel; and developing their faith and trust in Jesus.
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Provision of pastoral care and the occasional offices for people living in the parish and beyond
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Missionary and outreach work, care for the created world.
To facilitate this work, and as part of our stewardship, it is important that we maintain the fabric of the church buildings.
Safeguarding continues to be a major consideration for the PCC, with regular reviews taking place during the year. The PCC has also reviewed the church’s Safeguarding Policy and has complied with its duty to have due regard with the House of Bishops guidance on safeguarding children and vulnerable adults. In 2021 the Diocese of Oxford launched the Safeguarding Dashboard for each parish. This parish has complied fully with it and is currently at level 2 of 3, almost at level 3. The PCC ensures that all those required to do so undertake the relevant nationally provided safeguarding training.
Achievements and Performance
Worship and Prayer
Throughout the coronavirus pandemic, the PCC has ensured that the church offered a wide variety of worship opportunities, both to regular members and all in the parish.
A celebration of Epiphany was held on 3rd January 2021, but with the pandemic taking further hold, it was agreed to suspend in-person worship once again until Holy Week 2021, when the church building was able to re-open for limited and socially distanced public worship.
In the early part of the year, Sunday worship was offered as a Word service via Zoom. Once we re-opened for in-person worship, our main service reverted to a Parish Communion service at 10.00am on Sunday, also offered on Zoom. We re-introduced a quieter and more contemplative Service of Holy Communion at 8.00am once a month, along with a weekly service at 10.00am on Wednesdays. In partnership with All
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Saints, Boyne Hill and the Church of the Good Shepherd, Cox Green, we offered a variety of evening services through the Sundays at Six programme, mostly via Zoom. We continued to have an All-Age Communion service on the first Sunday of the month. Baptisms began again and took place at midday on Sundays.
We continued to offer zoomed Morning Prayer from Tuesday to Saturday, with up to 20 participants and Evening Prayer on Friday
We held our APCM on 23[rd] May.
Several other activities and courses were also conducted on Zoom including the Living in Love and Faith Course along with Quiet Days, although we were able to offer an in-person quiet day at Goosebury Hall, Epping in July, and a quiet morning in church in October
At various times throughout the year, the church was open for private prayer.
Our Advent and Christmas services were held in a safe way and were well attended. Those attending respected the need for face coverings and social distancing. Our Carol service was held in-person and also on Zoom, as was the Christmas Eve Crib service.
Limited school Carol services were held due to rising COVID numbers.
Diocesan/Deanery Synod
Two lay members of the PCC sit on Deanery Synod (there is one vacancy), alongside the clergy. This provides the PCC with an important link between the parish and the wider structure of the church.
Until July 2021, we also had one member of the PCC who was a member of the Diocesan Synod.
Church Buildings
The PCC has been awarded a for a faculty to install a digital projector and screen system in church, though this has not yet been installed.
A Fabric Committee has been re-established, led by Mike Mason and Aaron Wilson (Assistant churchwardens) to ensure the church building remains in a good condition. They are able to prioritise and address any general church maintenance needed. Along with a team of volunteers, they held several church working parties to address any general church maintenance needed, both inside and outside the church building.
The boiler has required considerable attention this year, incurring costs of around £16,000 (see below)
Pastoral Care
Pastoral care continued to be vitally important throughout the year.
At the start of the COVID pandemic the Pastoral Team was re-configured to enable twelve people to support all those on the pastoral roll by either email or phone on a weekly basis. As the pandemic waned,
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this support was focussed on the housebound and frail. The PCC is extremely grateful to these for the time and effort they have put in.
Weekly deliveries of the newssheet etc have continued for the dozen or so church members with no IT provision.
The vicar and curate have been able to offer Home Communion and pastoral visits and have conducted a number of funerals.
Mission and Evangelism
Helping those in need is a demonstration of our faith. This year our Outward giving was £7,308 which was distributed to our three nominated charities: Christian Aid, The Children’s Society, and Ivy’s Gifts, with donations also made to Christian Aid, The Children’s Society, Inclusive Church, Toilet Twinning with Kori (in Sierra Leone) and New Brainstorm School (Uganda). The Christmas Tree Festival raised £2000 for the chosen charity, Thames Hospice and The Berkshire Clergy Charity benefited from the collection at the Visitation Service in September.
We have encouraged our members to donate to Foodshare via local supermarkets and in church.
Our Parish Magazine ‘Inspire’ was published from time to time and we are grateful to Ruth Humphreys for collating the articles. We produce a weekly news sheet which is circulated via email / hand delivery.
We continue to offer alternative fresh expressions of church, including monthly Messy Church, which continued online throughout lockdowns and has grown hugely on return to in person activities.
We continue to offer our in-person fellowship and outreach activities, such as the monthly Thursday Teas, monthly Keeping Company bereavement group and weekly baby and toddler group. In Lent a group followed the diocesan Come and See course and the videos were used in the Sunday Zoom worship.
We have developed the Gaynor’s Gift group, a Prayer Shawl ministry to knit, crochet or sew shawls or blankets which, once blessed, are distributed to those is any kind of pastoral need. This is held monthly either in church or via Zoom.
Several members of St. Luke’s church family have joined Maidenhead Street Angels, an outreach group made up of volunteers from various churches in the town, offering care and support to those in need on the streets on a Saturday night.
After last year’s successful Christmas Tree Trail, we were able to return to church for our annual Christmas Tree Festival. With over 60 beautifully decorated Christmas trees and safe hospitality, we were able to welcome several hundred people into church each day. There was a fantastic atmosphere throughout the whole event and many people commented on how good it was to be back in church again.
Ecumenical Relationships
We are a member of Churches Together in Maidenhead and, as a Presence and Engagement parish, church members also participate in the activities of Windsor and Maidenhead Community Forum and Women’s Interfaith Group.
For the second year running, we joined the national initiative Love Christmas and, along with various other churches throughout Maidenhead, helped pack and deliver around 1,100 Bags of Kindness as a way of showing and sharing God’s love.
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Financial Review
This report could not be written without first acknowledging the work Richard Burdett put into these accounts for almost 30 years.
For the new treasurer, it was perhaps not too surprising to find how widespread the functions that he performed were. The PCC wishes to thank Richard for all his time and effort over those 30 years.
Following a PCC meeting with the Deanery Lay Chair Jim Tucker (formally the Deanery treasurer), Dave Sopp was appointed to the role of Interim treasurer, with a remit to simplify the accounts and build a team with shared responsibility and knowledge of how our church finances work. One of the key introductions made to date is that from 1st January 2022 the church finances are managed within an online accounting platform, Xero. This enables multiple people to have access to the accounts with varying levels of authority/access.
The big ‘financial story’ of the year must be the cost of maintaining our church heating system. Bills for this came to £16,104 over the course of the year contributing to an overall fabric expenditure in excess of £26,000. This pushed our overall expenditure for 2021 to £133,868.39. Whilst at first glance it may look like we very nearly matched that figure, with income and endowments, the latter does include a £1,000 grant from the diocese to help set off the above costs. We also received legacies (one dating back more than 10 years) and generous gifts in memorial totalling £28,515.
Planned giving was down to £56,087 in 2021 (£69,236 in 2020), no doubt partly this was down to the Pandemic and reduced access to the church. This resulted in a reduced Gift Aid reclaim of £11,824.85 (£16,721 in 2020).
That said, the PCC is very grateful for the additional donations and legacies received over the year which means that our overall financial position for the year in both cash and share value has increased.
Designated and Restricted Funds
There have been fewer transfers between funds in 2021 compared to previous years. As part of the remit to simplify the church’s accounts the PCC will hold a review of our fund levels and produce a set of documented financial policies to aid any future Treasurers in the role.
Balance Sheet
The rise of £45,572.98 in the balance sheet value, from £445,406.58 to £492,979.56 is mainly caused by the improvement in the CBF Investment Fund share price and the receipt of the legacies.
Reserves Policy
The PCC’s current policy on holding reserves are as follows. (These will form part of the review to be conducted in 2022):
Restricted Funds
The PCC is advised on an annual basis of significant unspent balances in these funds where it is apparent that plans are not in hand to spend the money within a reasonable time.
Unrestricted & Designated Funds
Benefactors' Fund : (i.e., accumulated legacies for the general purposes of the PCC). The policy is that the money should normally only be spent on the capital cost of items, or on repairs/restoration work that would not normally be required more than once every ten years. Alternatively, it can be used to fund
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support for church personnel development. Hence the reserve level will vary and there is no target level. In 2010 the PCC decided that the dividend income from the part of this fund held as CBF Investment Fund shares should be treated as General Fund income.
Fabric Reserve Fund : The policy is to hold reserves of between £140,000 and £200,000, so that:
-
The income from the investment is sufficient to cover the cost of day-to-day maintenance of the building's fabric, and
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To allow us if necessary to fund major building repair projects without needing to immediately raise funds to do so.
The remaining reserves (i.e. all excluding the Benefactors' and Fabric Reserve funds) should be sufficient to fund three months of ordinary expenditure. It has been many years since this was the case with funds currently falling more than £20,000 below this target. Addressing this issue will form part of the review mentioned above.
Details of all the funds are given in Note 8 to the attached accounts.
Volunteers and Others
The PCC would like to express its thanks to all the volunteers who contribute to the running of St. Luke’s Church. Many of these people work quietly in the background, doing all the little and not so little jobs that go to the smooth running and upkeep of the church. Too many to mention by name, we thank everyone for their contribution no matter how small.
2021 has been another challenging year for all of us and the PCC would particularly like to thank the Reverend Canon Terrie Robinson, and our curate the Reverend Phyl Sopp who was ordained priest in June 2021. Also, Dave Sopp for both his work in editing and broadcasting services, and for taking on the role of interim treasurer. We are greatly indebted to churchwardens, John Salter and Jacqueline Lewis, and their team of helpers who have welcomed people into the church and sanitised it after services.
The Reverend Sally Lynch has worked tirelessly to keep the church running and safe. This has always been done with good humour and a ready smile. She has provided encouragement when needed as well as empathy and has always been available if help is required. This she has done as well as carrying out her function as Associate Area Dean. She has continued to encourage St. Luke’s to carry on as close to normal as has been possible during the year.
Structure, Governance and Management
The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a registered charity.
The method of appointment of PCC members is set out in the Church Representation Rules. At St. Luke’s the current membership of the PCC consists of the Incumbent, Associate Priest, Curate, two Churchwardens, two Deanery Synod members and eight members elected by those members of the congregation who are on the Electoral Roll of the church. All those who attend our services/members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.
The PCC members are responsible for making decisions on all matters of mission and of general concern and importance to the parish including deciding on how the funds of the PCC are spent and safeguarding. New members receive initial training.
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The full PCC of St. Luke’s Church in 2021 consisted of 16 members. The PCC met on seven occasions (three via Zoom) during the year, with an average attendance of 75%.
There are two committees to which some members of the PCC belong.
Standing Committee:
This is the only committee required by law and has limited powers to transact the business of the PCC between its meetings. It seeks to promote the effective working of the PCC and co-ordinate the activities of the various planning groups. Its membership consists of the Incumbent, two Churchwardens, Treasurer, PCC secretary and two lay members of the PCC, elected annually. It also acts as the Finance Committee overseeing the financial situation and planning the stewardship renewal. The Standing Committee has met on four occasions during the year (two via Zoom).
Fabric Committee:
This committee is responsible to the PCC for all matters in relation to the fabric of the building and churchyard.
Administrative Information
St. Luke’s Church is situated in Norfolk Road, Maidenhead. It is part of the Diocese of Oxford (and Archdeaconry of Berkshire) within the Church of England. The correspondence address is St. Luke’s Church, The Vicarage, Norfolk Road, Maidenhead, SL6 7AX. Registered charity number 1129951
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PCC members who have served at any time from 1st January 2021 to 31st December 2021 are:
Ex Officio Members
Incumbent The Reverend Sally Lynch (Chair) Associate Priest The Reverend Canon Terrie Robinson Curate The Reverend Phyllis Sopp (from 4thJuly) Churchwardens John Salter (Vice Chair) Sue Hinchliffe (until May 2021) Jacqueline Lewis (from May 2021) Diocesan Synod Rep. Ralph Hinchliffe (until July 2021) (Secretary-until November 2021) Deanery Synod Richard Burdett (Treasurer-until November 2021) Ian Gilchrist
Elected Members
Adam Went Eileen Goford Ruth Sheppard Rachel Beaumont Aaron Wilson Phyl Sopp (until July 4[th] ) Jeanette Lock (from May 2021) (Secretary from November 2021) Johanna Raffan, RIP (June 2021) Kim Rumble (from May 2021) Mike Mason (from May 2021 Michael Masango (until May2021) Michelle Lane (until May2021) Dorothy Strack-Hankey (until May2021)
Approved by the PCC on 22 March 2022 and signed on its behalf by
The Reverend Sally Lynch Chair of PCC
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Independent Examiner's Report to the PCC of St. Luke's Parish Church, Maidenhead
I report on the accounts of the church for the year ended 31st December 2021 which are set out on pages 10 to 25.
Respective Responsibilities of Trustees and Examiner
The church's trustees (the PCC) are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is my responsibility to:
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Examine the accounts under section 145 of the 2011 Act);
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To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
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To state whether particular matters have come to my attention.
Basis of Independent Examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent Examiners’ statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with s.130 of the 2011 Act; and
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to prepare accounts which accord with these accounting records have not been met;
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Robin M. Clutterham FCMA
Date : /__/_____
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Parochial Church Council of St. Luke's Parish Church, Maidenhead
Statement of Financial Activities for the year ended 31st December 2021
| Note Income and Endowments from: Donations and legacies 2(a) Other trading activities 2(b) Investments 2(c) Church activities 2(d) Other activities 2(e) Total Income and Endowments Expenditure on: Church activities 3(a) Raising funds 3(b) Other activities 3(c) Total Expenditure Net income/(expenditure) before investment gains/(losses) Net gains/(losses) on investments Net income/(expenditure) |
Unrestricted Funds Restricted Endowment Total Funds General Designated Funds Funds 2021 2020 £ £ £ £ £ £ 74,962.41 29,815.08 2,834.81 - 107,612.30 99,371.41 - 8,054.01 - - 8,054.01 7,233.74 0.44 8,719.38 974.19 - 9,694.01 9,612.43 4,260.50 3,923.00 272.00 - 8,455.50 5,907.14 - - - - - - |
|---|---|
| 79,223.35 50,511.47 4,081.00 - 133,815.82 122,124.72 |
|
| 96,981.77 30,480.02 4,040.91 - 131,502.70 108,937.95 157.00 1,428.69 - - 1,585.69 3,642.28 - - 780.00 - 780.00 40.00 |
|
| 97,138.77 31,908.71 4,820.91 - 133,868.39 112,620.23 |
|
| (17,915.42) 18,602.76 (739.91) - (52.57) 9,504.49 |
|
| - 42,886.45 3,906.76 832.34 47,625.55 21,420.78 |
|
| (17,915.42) 61,489.21 3,166.85 832.34 47,572.98 30,925.27 |
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| Transfers between funds 4 From 2021 CTF Profit… ...to General Fund ...to Special Collections Benefactors' Fund Dividends to General Fund General Fund to Fabric Reserve Fund Hick Flower Fund to General Fund Flower Fund to General Fund From Fabric Fund… ...to Fabric Reserve Fund Net movement in funds Total funds brought forward at 1st January 2021 31st December 2021 |
- - - - - (2,215.47) 4,247.63 (4,247.63) - - - 1,107.74 - (2,000.00) 2,000.00 - - 1,107.73 1,077.89 (1,077.89) - - - - - - - - - - 68.97 (68.97) - - - - - - - - - - - - - (3,733.78) - - - - - 3,733.78 |
|---|---|
| (12,589.90) 54,232.66 5,097.88 832.34 47,572.98 30,925.27 |
|
| 3,646.96 365,229.14 70,712.08 5,818.40 445,406.58 414,481.31 |
|
| (8,942.94) 419,461.80 75,809.96 6,650.74 492,979.56 445,406.58 |
Balance Sheet as at 31st December 2021
| Note Fixed Assets Tangible fixed assets No tangible fixed assets 7a) Investments Parochial Church Council Property 7b) Trust funds administered by the PCC 7c) Current Assets Stock Investments Debtors CBF No. 1 (General) CBF No. 2 (Fabric) CBF No. 3 (Trusts) CBF No. 5 (Development) CBF No. 6 (Organ) |
2021 £ - 379,045.83 1,498.76 380,544.59 - - 5,500.00 1,611.52 27,811.98 11,092.44 3.96 5,942.46 |
2020 £ - 331,607.85 1,311.19 332,919.04 8,935.02 533.19 30,178.02 10,917.93 3.96 5,147.45 |
|---|---|---|
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| CBF No. 7 (Benefactors') CBF No. 9 (School) Lloyds Bank Deposit Account (Development Fund) Lloyds Bank Current Account RBS Current Account Liabilities: Amounts falling due within one year Creditors for goods and services Advanced payments received Net Current Assets (Liabilities) Total Net Assets represented by:- Parish Funds 8 Unrestricted 8a) Restricted 8b) Endowment 8c) |
14,462.46 8,228.27 4,057.33 18,674.54 22,581.19 119,966.15 (7,531.18) - 112,434.97 492,979.56 410,518.86 75,809.96 6,650.74 492,979.56 |
14,454.93 8,223.98 4,056.95 931.91 29,104.20 112,487.54 - - 112,487.54 45,406.58 368,876.10 70,712.08 5,818.40 445,406.58 |
|---|---|---|
Approved by the Parochial Church Council on 22 March 2021 and signed on its behalf by: -
Revd. Sally Lynch (Vicar)
John Salter (Church warden)
The notes on pages 13 to 25 form part of these accounts
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Notes to the financial statements for the year ended 31st December 2021
1 Accounting Policies
The PCC is a public benefit entity within the meaning of FRS102. 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, and with the Regulations’ “true and fair view” provisions. They have been prepared under the 2019 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
Assets
Consecrated and benefice property
In so far as consecrated and benefice property of any kind is excluded from the statutory definition of ‘charity’ by Section 10(2)(a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.
Moveable church furnishings
These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory in any case.
Tangible fixed assets for use by charity These are capitalised if they can be used for more than one year, and cost at least £1,000. They
are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market value on receipt.
Equipment owned by the PCC and used within the church is depreciated on a straight-line basis over 4 years. All current items are now fully depreciated.
An impairment review is carried out at each year-end and any resultant loss identified included in expenditure for the year.
Investments
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end. Other investment assets are included at PCC’s best estimate of market value.
Short term deposits
These are the cash held on deposit either in the CBF Deposit Funds or at the bank.
Funds
Unrestricted Funds
These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its ‘general fund reserves’ as disclosed in the trustees’ report.
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Restricted Funds
These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
Endowment Funds
These are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the accounts.
Transfers between Funds
At the end of each year a transfer is usually made from the Events Fund to the General Fund to leave the source fund with free balances of between £10 and £100. Historically the aim was to leave the fund with sufficient money to pay the up-front costs of activities planned for the early part of the following year, but in practice this is no longer necessary.
Each year, the income from the Hick Flower Fund Endowment is transferred to the General Fund to be used towards the purchase of flowers.
Incoming Resources
Voluntary Income and Capital Sources
Planned Giving, collections and donations are recognised when received. Income tax recoverable on gift aid donations is recognised when the income is received. Grants and legacies are accounted for when the PCC has determined that it is irrevocably legally entitled to the amounts due. All incoming resources are accounted for gross.
Other income
All other income is recognised when it is receivable. No attempt is made to place a figure on the value of the work of volunteers.
Income from Investments
Dividends and interest are accounted for when receivable.
Investment gains and losses
Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on the revaluation of investments at 31st December 2021.
Resources Used
Grants
Grants and donations are accounted for when paid.
Since October 2010 dividends from the Benefactors' Fund CBF Investment Fund Shares are treated as General Fund income.
Other transfers are made as required by resolution of the full PCC or Standing Committee.
Activities directly related to the work of the Church
The Parish Share is accounted for when payable.
Costs and expenses payable by the PCC at the year-end are shown as Creditors for Goods and Services.
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Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
| Note 2 Income and Endowments from: 2a) Donations and Legacies Planned Giving: Gift Aided Tax recovered Non-Gift Aided Collections (open plate) at all services Special Collections Gift Aided Tax recovered Non-Gift Aided Sundry Donations Grants Lady Pocock's Charities ODBF for Heating repairs Contributions Baby & Toddler Group: Donation RBWM LPWGS - VAT Refund Legacies & Gifts In Memoriam Floodlighting sponsorship 2b) Other Trading Activities Fund Raising - General Fund Raising -CTF Fund Raising - Parish Holiday Transfer from Hall Trustees for Fire Extinguisher Servicing |
Unrestricted Funds Restricted Endowment General Designated Funds Funds 2021 2020 £ £ £ £ £ £ 48,827.76 - - - 48,827.76 64,334.74 11,824.85 - - - 11,824.85 16,721.37 7,258.80 - 100.00 - 7,358.80 4,901.80 1,362.00 - - - 1,362.00 1,618.84 - - 664.66 - 664.66 735.00 - 166.17 - 166.17 185.79 441.00 - 930.98 - 1,371.98 2,068.00 4,683.00 300.00 73.00 - 5,056.00 2,206.02 - 400.00 - 400.00 420.00 1,000.00 - - 1,000.00 - - - 500.00 - 500.00 - - - - - - - - - - - - - 28,515.08 - - 28,515.08 5,540.39 565.00 - - - 565.00 639.46 |
|---|---|
| 74,962.41 29,815.08 2,834.81 - 107,612.30 99,371.41 |
|
| - 311.45 - - 311.45 1,019.00 - 7,676.32 - - 7,676.32 2,418.75 - - - - - 3,700.00 - 66.24 - - 66.24 95.99 - 8,054.01 - - 8,054.01 7,233.74 |
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Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
| Note 2 Income and Endowments from: 2c) Investments Dividends on CBF Investment Fund Shares Bank and CBF Deposit Fund Interest 2d) Church activities Fees - Weddings & Funerals Magazine, Trading & Catering Baby & Toddler Group Income Church Bookings Total Income and Endowments |
Unrestricted Funds Restricted Endowment General Designated Funds Funds 2021 2020 £ £ £ £ £ £ - 8,696.43 961.00 - 9,657.43 9,325.90 0.44 22.95 13.19 - 36.58 286.53 |
|---|---|
| 0.44 8,719.38 974.19 - 9,694.01 9,612.43 |
|
| 3,543.00 3,923.00 - - 7,466.00 4,826.35 67.50 - - - 67.50 204.89 - - 272.00 - 272.00 168.00 650.00 - - - 650.00 707.90 4,260.50 3,923.00 272.00 - 8,455.50 5,907.14 |
|
| 79,223.35 50,511.47 4,081.00 - 133,815.82 122,124.72 |
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Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
| Note 3 Expenditure on: 3a) Church activities Grants Missionary and Charitable Giving: Church Overseas: - relief and development agencies Christian Aid New Brainstorm School Hand in Hand for Syria (Non presented chq.) Toilet Twinning with Kori Home missions and other Church Societies Children's Society Berkshire Clergy Charity Royal County of Berks Churches Trust Inclusive Church Quench Bookshop Secular Charities Thames Hospice Maidenhead Talking Newspaper Ivy's Gifts (Oxford Hospitals Charity) Clean Conscience Alexander Devine The Brett Foundation (Maidenhead Shelter) Thames Valley Air Ambulance 3a) Church activities Gifts Total of Outward & Charitable Giving |
Unrestricted Funds Restricted Endowment General Designated Funds Funds 2021 2020 £ £ £ £ £ £ 887.00 - 110.00 - 997.00 321.75 295.00 - - - 295.00 1,425.00 - - - - - (225.00) 295.00 - - - 295.00 - |
|---|---|
| 1,477.00 - 110.00 - 1,587.00 1,521.75 |
|
| 887.00 - 1,160.31 - 2,047.31 117.50 - - 291.50 - 291.50 - - - - - - 215.00 295.00 - - - 295.00 - - - - - - 1,425.00 |
|
| 1,182.00 - 1,451.81 - 2,633.81 1,757.50 |
|
| - 2,000.00 - 2,000.00 476.74 - - - - - 568.02 887.00 - - - 887.00 - - - - - - 1,425.00 - - 200.00 - 200.00 - - - - - - 129.50 - - - - - 1,107.73 |
|
| 887.00 - 2,200.00 - 3,087.00 3,706.99 |
|
| - - - - - 909.00 - - - - - 909.00 |
|
| 3,546.00 - 3,761.81 - 7,307.81 7,895.24 |
Page 17
Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
| Note 3 Expenditure on: (continued) 3a) Church activities Ministry: Parish Share Clergy Expenses Teaching Courses etc Fees Assigned to Diocese Fees for Organist, Vergers, Flower Arrangers Junior & Messy Church Costs Baby & Toddler Group Expenditure Church running costs Light, water, heat Insurance Church requisites Catering Choir, Organ and Music CCLI License Hall Trustees - Fee for Use of Hall Church Maintenance & Development Structure & Windows Clock Heating Installation Electrical & Sound System Installation Fire Extinguishers & Security Furnishings Miscellaneous Parish Administrator's Salary & Pension Office Costs Account Examination Fee/Expenses St. Luke's Flower Group Total Expenditure on Church Activities |
Unrestricted Funds Restricted Endowment General Designated Funds Funds 2021 2020 £ £ £ £ £ £ 63,770.00 - - - 63,770.00 63,770.00 2,314.03 - 178.75 - 2,492.78 1,816.98 480.20 - - - 480.20 - - 3,916.00 - - 3,916.00 2,408.00 185.00 - - 185.00 335.00 - - - - - 36.21 - - - - - 209.64 6,489.40 - - - 6,489.40 6,410.31 7,349.72 - 100.35 - 7,450.07 7,736.54 81.69 - - - 81.69 240.47 - - - - - 70.80 4,033.61 - - - 4,033.61 5,073.55 418.22 - - - 418.22 374.90 - - - - - 50.00 1,350.00 - - 1,350.00 - 278.40 - - 278.40 270.00 16,103.94 - - 16,103.94 1,209.60 1,538.52 - - 1,538.52 411.76 476.26 - - 476.26 - 490.64 - - 490.64 1,927.34 6,141.26 - - 6,141.26 225.03 3,229.00 - - - 3,229.00 4,329.08 5,169.90 - - - 5,169.90 3,772.30 100.00 - - - 100.00 113.20 - - - - - 252.00 |
|
|---|---|---|
| 93,435.77 30,480.02 279.10 - 124,194.89 101,042.71 |
||
| 96,981.77 30,480.02 4,040.91 - 131,502.70 108,937.95 |
Page 18
Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
| 3b) | Raising funds | ||||||
|---|---|---|---|---|---|---|---|
| Fund raising costs | - | 1,305.33 | - | - | 1,305.33 | 3,642.28 | |
| Subscriptions and Advertisements | 157.00 | 123.36 | - | - | 280.36 | - | |
| 157.00 | 1,428.69 | - | - | 1,585.69 | 3,642.28 | ||
| 3c) | Other activities | ||||||
| Year of Mission Events | - | - | 780.00 | - | 780.00 | - | |
| St. Luke's School - Grants | - | - | - | - | - | 40.00 | |
| - | - | 780.00 | - | 780.00 | 40.00 | ||
| Total Expenditure | 97,138.77 | 31,908.71 | 4,820.91 | - | 133,868.39 | 112,620.23 | |
| 4 | Analysis of Transfer Between Funds | ||||||
| The transfers show: | |||||||
| The 2021 Christmas Tree Festival generated £4,248 for | the General Fund plus £2,000 for Thames Hospice | ||||||
| General Fund fundraising was limited but the balance of £201 was transferred to General Fund | |||||||
| Benefactors' Fund dividends of £1,078 were transferred to the General Fund. |
No other transfers between funds took place pending the PCC review to be carried out after the APCM
| 5 Staff Costs Director of Music's Salary Organist's Salary (to Oct 21) Parish & Music Administrator's Salary & Pension Costs During the year the PCC employed a Director of Music, an Organist and a Parish/Music Administrator The PCC operates a PAYE scheme for all staff payments. It also offers the NEST defined contribution pension scheme which the Parish Administrator is a member of and to which the PCC contributes 4% of her salary. |
2021 2020 £ £ 1,967.76 2,808.12 1,559.70 466.68 3,113.16 5,100.04 |
|---|---|
| 6,640.62 8,374.84 |
|
Page 19
Parochial Church Council of St. Luke's Parish Church, Maidenhead
Notes to the financial statements for the year ended 31st December 2021
6 Related Parties
A small immaterial portion of the expenses paid to the Vicar may relate to her service as chair of the PCC
The Director of Music is also a PCC member and is therefore excluded from any decision making regarding his own income.
No other payments or expenses (other than reimbursement for items purchased on behalf of the PCC) were paid to any PCC member, persons closely connected with them, or related parties
Donations from related parties (PCC members) during the year including Planned Giving and other gifts totalled £18,508 excluding the associated Gift Aid tax refund
7 Fixed Assets for use by the PCC
7a) Tangible Fixed Assets
There are currently no tangible fixed assets
| 7b) Investments - PCC Property Fabric Reserve Fund 12819.33 shares in the CBF Investment Fund Organ Fund 1333 shares in the CBF Investment Fund Benefactors' Fund 1813.69 shares in the CBF Investment Fund Hannaford Trust - held by Diocesan Trustees, Oxford Ltd, on behalf of the PCC 104 shares in the CBF Investment Fund Hick Flower Fund 116 shares in the CBF Investment Fund 7c) Investments - Property of Vicar and Churchwardens, administered by the PCC Fry Trust 64 shares in the CBF Investment Fund |
Valuation at 31/12/2021 £ 300,204.35 31,216.33 42,473.17 2,435.48 2,716.50 379,045.83 £ 1,498.76 1,498.76 |
Valuation at 31/12/2020 £ 262,633.46 27,309.57 37,157.61 2,130.68 2,376.53 |
|---|---|---|
| 331,607.85 | ||
| £ 1,311.19 |
||
| 1,311.19 |
Page 20
Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
8 Funds
Summary of Assets By Fund
| Investment Fixed Assets Current Assets Current Liabilities Fund Balance Fund Details 8a) The Unrestricted Funds balances are as follows:- General Fund: General Accumulated Reserves Designated Funds: Events Committee Fund Flower Fund Vicar's Discretionary Fund Assigned Fees Benefactors' Fund Benefactors' Fund CBF Shares Fabric Fund Fabric Reserve Fund Fabric Reserve Fund CBF Shares |
Unrestricted Funds Restricted General Designated Funds £ £ £ - 342,677.52 31,216.33 (8,942.94) 76,690.31 44,593.63 - - - |
Endowment Total Funds Funds 2021 £ £ 6,650.74 380,544.59 - 112,341.00 - - |
2020 £ 332,919.04 112,487.54 - |
|---|---|---|---|
| (8,942.94) 419,367.83 75,809.96 |
6,650.74 492,885.59 |
445,406.58 |
|
| Balance at 31/12/2021 £ (8,942.94) 94.34 93.97 526.23 307.00 54,333.67 42,473.17 (32,778.27) 54,207.34 300,204.35 410,518.86 |
Balance at 31/12/2020 £ 3,646.96 (107.11) - 526.23 300.00 34,454.93 37,157.61 (23,943.32) 54,207.34 262,633.46 |
||
| 368,876.10 |
Page 21
Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
| 8b) The Restricted Funds Balances are as follows:- Junior Education Fund Mums & Toddlers Fund Year of Mission Choir Music Fund Lady Pocock's Non Ecclesiastical Oakley Bequest Langton Bequest Development Fund Organ Fund Organ Fund CBF Shares A Finch Fund for Organ Improvements Fry Trust Accumulated Income Hannaford Trust Accumulated Income Special Collections St. Luke's School Fund 8c) The Endowment Funds Balances are as follows:- Fry Trust (Capital) Hannaford Bequest (Capital) Hick Flower Fund(Capital) |
2,000.97 775.84 9,447.16 690.92 2,313.00 122.21 131.35 4,061.29 5,942.46 31,216.33 8,902.36 162.60 1,704.95 110.25 8,228.27 75,809.96 1,498.76 2,435.48 2,716.50 6,650.74 |
2,050.72 104.19 10,227.16 590.92 1,969.00 122.15 131.28 4,060.91 5,147.45 27,309.57 8,897.74 124.49 1,642.27 110.25 8,223.98 |
|---|---|---|
| 70,712.08 | ||
| 1,311.19 2,130.68 2,376.53 |
||
| 5,818.40 |
Page 22
Parochial Church Council of St. Luke's Parish Church, Maidenhead Notes to the financial statements for the year ended 31st December 2021
8 Fund Details (continued)
As reported elsewhere the PCC will be asked to review all our accounting policies and this review will therefore include all of the following. Sufficient resources are held in an appropriate form to enable each of the funds be applied in accordance with any restrictions. The specific purpose of each fund is as follows:
Unrestricted Funds
GENERAL ACCUMULATED RESERVES
These represent the general "savings" of the PCC which are not earmarked for any particular purpose. At the end of 2021 the reserves were £8,942.94 overdrawn.
FABRIC FUND
This funds repairs and maintenance to the church building and its contents, and the cost of cleaning materials. Income is from the Fabric Reserve Fund i.e., one half of the interest and dividends arising from the proceeds of the sale of 42 St. Luke's Road (the former curate's house).
Expenditure during the year included day to day maintenance costs, significant Boiler repairs, electrical work for the organ and the Quinquennial inspection.
This year investment income from the Fabric Reserve fund, combined with an historical legacy of £8415 and a £1,000 grant from the Diocese were not enough to cover expenditure so the debit balance increased.
BENEFACTORS' FUND
Designated Funds
EVENTS FUND
The pandemic meant that we were unable to hold many of our usual range of fund-raising events during the year, although our Christmas Tree Festival did go ahead and raised £4248 for ourselves and a further £2,000 for Thames Valley Hospice.
The fund received legacies and donations in memory of Maureen Williams, RIP and Janet Trinkwon, RIP, as well as a significant donation from former parishioner, Jill Bevitt for work on the Chapel when required.
BENEFACTORS' FUND CBF SHARES
These shares generated £1,078 (2020: £1,041) of income for the General Fund in 2021.
VICAR'S DISCRETIONARY FUND
This is used to aid those in need who call at the Vicarage.
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FABRIC RESERVE FUND
This represents part of the capital held on deposit that generates income for the Fabric Fund. In 2021 the practice of transferring £700 from the General Fund as a series of 20 annual payments intended to restore the £18,000 capital withdrawn from the Fabric Reserve fund in 2004 to pay for the West Window restoration was suspended. This was due to the Fabric Reserve fund being well above its target figure of £140,000 - £200,000. There are four payments outstanding.
FABRIC RESERVE FUND CBF SHARES
This represents the bulk of the capital that generates the income for the Fabric Fund. The fund is represented by 12819.33 CBF Investment Fund shares. In 2021 it generated £7,619 of dividends and interest (2020 £7,357).
Restricted Funds
JUNIOR EDUCATION FUND
This funds the education of the children and young people of the church and Messy Church expenditure. Income during the year was from contributions collected at Messy Church and a grant from Lady Pocock’s Ecclesiastical Charity.
YEAR OF MISSION FUND
This is the balance remaining from the legacy left via the Diocese of Oxford to be used for mission work within Maidenhead.
CHOIR MUSIC FUND
This fund holds money given that is specified as being for this fund and is used by the choir to purchase new music and pay fees for visiting organists.
LADY POCOCK’S NON-ECCLESIASTICAL CHARITY
This fund contains unspent grant money from Lady Pocock's NonEcclesiastical Charity which has to be used to benefit the elderly poor of the parish.
OAKLEY BEQUEST
This fund is for upkeep of the Oakley grave.
LANGTON BEQUEST
This fund is for the upkeep of the Langton grave and churchyard.
DEVELOPMENT FUND
This fund is for long term improvements or alterations to the fabric of the church (as opposed to maintenance activities).
BABY & TODDLER GROUP FUND
There was no activity for this fund in 2020
This contains monies held on behalf of the Baby and Toddlers Group. The group normally holds a two-hour session on each Thursday during school term time, but due to the pandemic sessions were limited in 2021. When the group started meeting again in June 2021 sessions moved from the Community Hall to the Church, which reduced outgoings.
ORGAN FUND
This was established to fund long-term repairs and maintenance to the pipe organ that was last fully restored after the fire in 1991. Organ tuning costs and day-to-day maintenance are borne by the General Fund under the Choir and Organ expenditure item.
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ORGAN FUND CBF SHARES
In view of the long-term nature of the Organ fund, part of it is held as 1333 CBF Investment Fund Shares.
ARTHUR FINCH FUND FOR ORGAN IMPROVEMENTS
This fund contains the legacy received from the estate of the late Arthur Finch to be used towards future improvements to the pipe organ at St. Luke’s.
FRY TRUST, HANNAFORD TRUST AND HICK FLOWER FUND ACCUMULATED INCOME FUNDS
These three funds hold the income from the corresponding endowments until it is spent. There was no expenditure from the Fry Trust and Hannaford Trust in 2021.
ST LUKE’S SCHOOL FUND
There is a building on the school site which was erected by the local authority without the permission of the trustee of the land, which is St. Luke’s Parochial Church Council. Rental from the operator who ran it as “Munchkins” was paid direct to the school until 2012. However, when the land was registered by the Diocese of Oxford it became clear that since the trustees are the ultimate owners of the land the rental income should be paid to the PCC and used in accordance with the land conveyance dated 22nd June 1948 which requires it to be spent firstly “on matters relating to educating children or adults of the parish in the Christian faith, or failing this on any other ecclesiastical purpose.” The St. Luke’s School Fund was therefore set up within the PCC’s accounts and contains rental payments received plus interest, less expenditure properly authorised by the PCC.
In July 2016 the Munchkins group left the building and the school is now using the premises for its own purposes. Rental payments to the PCC have therefore ceased. In 2021 there was no activity on this fund.
Endowment Funds
FRY TRUST
The income from this endowment is to be used firstly to maintain the grave of Canon Fry and secondly to maintain the chapel.
HANNAFORD BEQUEST
The income from this endowment is to be used firstly to maintain the grave and tombstone of Anne Dorothy Hannaford in good and proper order and secondly for the general purposes of the PCC.
HICK FLOWER FUND
The income from this endowment £69 (£67 in 2020) is used to purchase flowers for the church, by transfer to the General Fund from whence it is paid to the flower arranging team as part of the PCC's contribution of £200 towards the cost of flowers Following the closure of the building society account used by the flower arranging team the balance of this money is currently held in a designated Flower Fun
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