PARISH OF ST MARY’S CHURCH, RUSHDEN
Charity Number 1130072
ANNUAL REPORT
AND
FINANCIAL STATEMENTS
OF THE
PAROCHIAL CHURCH COUNCIL
OF ST MARY
FOR THE YEAR ENDED 31 DECEMBER 2020
Rector:
The Reverend Stephen Prior
Bankers: TSB, High Street, Rushden
Independent Examiner:
Mr Keith Titmuss 191 Monarch Road Eaton Socon St Neots PE19 8JP
Our web site: www.stmaryschurchrushden.org
PARISH OF ST MARY, RUSHDEN
ANNUAL REPORT OF THE PCC
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020
Aim and Purpose
Rushden PCC has the responsibility of co-operating with the incumbent, the Reverend Stephen Prior, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelical, social and ecumenical. As well as the church itself, which is a Grade 1 Listed Building, the PCC is also responsible for maintaining the Church Halls.
Administrative Information
The Church is situated in the High Street, Rushden NN10 0QE and is part of the Deanery of Higham Ferrers, in the Diocese of Peterborough.
Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules. Members of the congregation are encouraged to join the Electoral Roll and to stand for election to the PCC
PCC members who have served from the 1[st] January 2020 until the date this report was approved were:
| Incumbent: | Rev S Prior (Chairman) |
|---|---|
| Curate: | Rev P Nightingale |
| Wardens: | Mr D Merrifield (until April 2020), |
| Mr P Adams (from April 2020) & Mrs K Woodfield | |
| Elected Members: | Mrs L Prior Mrs L Rowland |
| Mrs J Smith Mrs C Haseldine (until April 2020) | |
| Mrs M Bates Mrs H Smedley | |
| Mr C Rowland Mr P Brooksby | |
| Mr J Woodfield Mr R Toosey | |
| Mrs J Bass Mrs L Skinner |
|
| Mr G Bass Mr M Cromwell | |
| Mr M Compton (Secretary until April 2020) | |
| Readers: | Mr A Smith (Vice Chairman) |
| Mr M Bantin | |
| Deanery Synod: | Mrs D Smith Mrs B Dixon |
| Mrs S Prior | |
| Treasurer: | Mr R Bates |
| Secretary | Mrs J Bone (from April 2020) |
The PCC members are responsible for making decisions on all matters of general concern and importance in the Parish and for all financial matters.
The PCC itself operates through a number of Committees, which meet between full meetings of the PCC as and when appropriate. The Committees include Worship, Mission, Fabric and Finance. Each Committee reports back to the full PCC.
St. Mary’s PCC only met 5 times in the year due to the Covid 19 restrictions with an average attendance of 80%
CHURCH ATTENDANCE
There are 200 parishioners on the electoral roll of St Mary’s.
Due to the unusual circumstances of Covid 19 in 2020 average Sunday attendance figures are really irrelevant.
Objectives and Activities
When planning our activities, the PCC has considered the Charities Commission’s guidance on public benefit, and in particular the specific guidance on charities for the advancement of religion, in so doing encouraging as many people as possible to worship in our church. During the year the PCC has discussed and amended the Safeguarding policy and the Privacy Policy in line with the legal requirements. At every PCC meeting a Finance report is given.
Achievements and Performance
Due to the Covid 19 restrictions services and activities were curtailed for much of the year. Until restrictions began in March, we were able to continue with a range of services on Sundays and a traditional Holy Communion Service on Thursdays. The services on Sunday tried to ensure that all members of the community are catered for. Bumps and Babes for preschool children, Who Let the Dads Out for young children and male carers, informal Thursday coffee mornings and the Ladies Group were all able to meet until the lockdown. Unfortunately, these were unable to restart for the rest of the year.
From the beginning of lockdown an online weekly service has been streamed. The number of online programmes has been increased during the year. The mid-week Communion Service has been replaced by Thought for Thursday, Bumps and Babes appears on Facebook each Monday mornings, Sunday Club is available on line each week. Some Home Groups continue to meet via Zoom and a weekly bible study has also begun on Zoom.
The Pastoral Team were unable to visit but the church has tried to ensure that everyone connected to the church is contacted by phone or e-mail on a regular basis. Members of the church have continued to support the local food bank and following the Harvest Service two car loads of donations were taken to the bank.
During the year 6 funerals, 1 blessing and 1 wedding were held in church, however, the clergy officiated at a number of funerals held at crematoria and local Funeral Homes
FINANCIAL REVIEW OF THE YEAR
Total receipts on the unrestricted General Fund were £122,040, and payments from this fund totalled £132,426, giving a deficit of £10,386. Despite the difficult year the amount of regular giving was very encouraging. Due to the lockdown income from open plate, hall lettings events and activities was extremely low.
However, we were able to give 10% of our General Income, £12,300 to home and overseas Mission. In addition to this we were able to send £9,241 to various special appeals, this includes donations to support a refugee family. Expenditure for everyday running costs was less than the 2020 Budget as for long periods the church was closed. The Parish Share of £82,673 was paid in full.
We have various funds designed to target specific areas. These are: - General Unrestricted Funds - This is the fund which we use to receive our regular voluntary giving, and other income from activities, fees, hall lettings and Investments etc. This account is used to pay all our general expenses
Restricted Funds – By their very nature these funds are held by the PCC for use on projects which are restricted to be used only for a specific purpose. The largest by far is the Fabric Fund for Church building repairs. Currently this fund has assets of £163,086 of which £95,771 is invested and yielded an annual income of £6383.
From this fund £1,602 was spent for consultation on the heating system and £3,000 on the South door for which we had a grant.
At the year end the Restricted Funds in addition to Fabric were Mission £1,353 Youth Work £530 and Refugee Support £4,656.
Designated Funds – These are designated by the PCC for specific projects but are not ring fenced and can be re-directed by the PCC. During the year we spent £3,935 from this fund to repair the hall lift and £3,914 to update the Church AV System
At the year end the Designated Funds were as follows: -
Fabric £6,243 Rushden East Outreach £6,000 Who Let the Dads Out? £500
As a Church we should be grateful for the support we receive from our members and thank God that we are able to continue to look forward with faith into 2021
.
INDEPENDENT EXAMINER’S REPORT
TO THE
PCC OF ST MARY, RUSHDEN NORTHAMPTONSHIRE
This report on the financial statements of the PCC for the year ended 31 December 2020 which are set out on the attached pages.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER
The members of the PCC (the Trustees) are responsible for the preparation of the accounts. The 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:
-
examine the accounts (under section 145(5)(b) of the 2011 Act):
-
follow the procedures laid down in the General Directions given by the Charity Commissioners; and
-
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 the Church Council (the Trustees) concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the view given by the accounts.
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matters have come to my attention:
-
(1) 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 these accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed …………………. Date …………………………….
K Titmuss 191 Monarch Road Eaton Socon PE19 8JP 4
.
PAROCHIAL CHURCH COUNCIL OF ST MARY, RUSHDEN
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP 2005.
The financial statements have been prepared under the historical cost convention. Investment assets are also recorded at their historical cost price as any capital increment in value is taken into account on the date of disposal and not on an annual basis. Market value of these investments as at the Balance Sheet date is recorded by way of a note on the accounts.
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.
FUNDS
General Funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available on the general purposes of the PCC. Funds designated for a particular purpose by the PCC although unrestricted have been shown separately in order to inform members of PCC decisions.
INCOMING RESOURCES
Voluntary Income and Capital Sources
Collections are recognised when received by or on behalf of the PCC.
Planned giving receivable under covenant is recognised only when received.
Income tax recoverable on covenants or gift aid donations is recognised when the income becomes due
Grants and Legacies to the PCC are accounted for when received by the PCC.
Funds raised by events and activities are accounted net.
Other Ordinary Income
Rental income from the letting of Church premises is recognised when the rental becomes due.
PAROCHIAL CHURCH COUNCIL OF ST MARY, RUSHDEN
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Income from Investments
Dividends and interest are accounted for when receivable. Tax recoverable on such income is recognised in the same accounting year.
Gains and Losses on Investments
Realised Gains or Losses are recognised when investments are sold. Unrealised gains or losses are accounted for by way of note to the accounts. It is not the accounting policy to take such gains or losses to the Financial Activity Account until they have been physically realised.
RESOURCES USED
Grants
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.
Activities directly relating to the work of the Church
The Diocesan quota or parish share is accounted for when payable. Any unpaid quota 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
Consecrated land and buildings and movable church furnishings
Section 10(2) (a) and (c) of the Charities Act 2011 excludes consecrated and beneficial property from the Accounts.
No value is placed on movable church furnishings held by the churchwardens 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 movable church furnishings, whether maintenance or improvements, is written off as expenditure in the SOFA and separately disclosed. For insurance purposes the church and contents are valued at £22,390,000.
Church Halls
These are valued for insurance purposes at £2,900,000 including contents
Investments
Investments are shown at acquisition price with a note of market value as at 31 December.
Current Assets
Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short-term deposits include cash held on deposit either with the CBF Church of England funds or at the Bank.
| PAROCHIAL CHURCH COUNCIL OF RUSHDEN | ||||||||
| ST. MARY'S PARISH CHURCH | ||||||||
| NOTES TO THE FINANCIAL STATEMENTS | ||||||||
| For theyear ended 31 December 2020 | ||||||||
| 2 | INCOMING RESOURCES | |||||||
| General Funds |
Restricted Funds |
Designated Funds |
**Total 2020 ** | Total 2019 | ||||
| 2(a) | Voluntary Income | £ | £ | £ | £ | £ | ||
| Planned Giving: | ||||||||
| Gift Aid | 70,748 | 8,648 | 79,396 | 75,835 | ||||
| Income Tax Recovered | 19,730 | 2,145 | 21,875 | 20,972 | ||||
| Donations/Stewardship | 20,357 | 2,090 | 22,447 | 20,149 | ||||
| Open Plate | 2,064 | 415 | 2,479 | 8,217 | ||||
| Charity& Mission Income | - | 1,122 | 1,122 | 1,033 | ||||
| Miscellaneous | - | - | - | - | ||||
| 112,899 | 14,420 | - | 127,319 | 126,206 | ||||
| 2(b) | Other Voluntary Income | |||||||
| Legacies/Gifts in Memory | 411 | 411 | 683 | |||||
| 2('c) | Gross Income from | |||||||
| Events & Activities | ||||||||
| Activities,Fetes etc. | 500 | 968 | 1,468 | 5,283 | ||||
| Bookstall | 363 | 363 | 387 | |||||
| Church Hall Lettings | 2,055 | 2,055 | 7,957 | |||||
| Fees | 1,681 | 1,681 | 3,928 | |||||
| Parish Office Receipts | 297 | 297 | 802 | |||||
| Magazine Sales | 553 | 553 | 695 | |||||
| Magazine Adverts | 940 | 940 | 1,020 | |||||
| 6,389 | 968 | - | 7,357 | 20,072 | ||||
| 2(d) | Income from Investments | |||||||
| Dividends | 1,169 | 6,383 | 689 | 8,241 | 10,429 | |||
| Deposit/Bank Interest | 355 | 247 | 33 | 635 | 1,062 | |||
| Greenfield Bequest | 817 | 817 | 1,634 | 1,586 | ||||
| 2,341 | 7,447 | 722 | 10,510 | 13,077 | ||||
| 2(e) | Grants | |||||||
| Other Grants | 3,000 | 3,000 | 312 | |||||
| VAT Grants | - | 483 | ||||||
| Youth Apprentice | - | - | ||||||
| Echo Intern | - | 1,667 | ||||||
| TOTAL INCOMING RESOURCES | 122,040 | 25,835 | 722 | 148,597 | 162,500 | |||
7
| PAROCHIALCHURCH COUNCILOF RUSHDEN | ||||||||
| ST. MARY'S PARISH CHURCH | ||||||||
| NOTES TO THE FINANCIALSTATEMENTS | ||||||||
| For the year ended 31 December 2020 | ||||||||
| 3 | RESOURCES USED | |||||||
| General Funds |
Restricted Funds |
Designated Funds |
Total 2020 |
Total 2019 |
||||
| 3(a) | Grants/Mission/Charities | £ | £ | £ | £ | £ | ||
| Overseas Missions | 3,690 | 248 | 3,938 | 4,690 | ||||
| Home Missions | 6,150 | 879 | 7,029 | 8,122 | ||||
| UK Appeals/Donations | 751 | 6,772 | 7,523 | 1,329 | ||||
| Relief/Developments | 2,460 | 1,342 | 3,802 | 4,986 | ||||
| Misc Costs | 106 | 106 | 216 | |||||
| 13,157 | 9,241 | - | 22,398 | 19,343 | ||||
| 3(b) | Support Costs | |||||||
| Training | - | - | 155 | |||||
| Outreach & Home Groups | 34 | 34 | 690 | |||||
| 34 | - | - | 34 | 845 | ||||
| 3('c) | Church Expenses | |||||||
| ParishShare | 82,673 | 82,673 | 80,672 | |||||
| Clergy/Staff Expenses | 2,484 | 2,484 | 4,020 | |||||
| Heat & Light | 3,844 | 3,844 | 5,574 | |||||
| Insurance | 4,327 | 4,327 | 4,278 | |||||
| Upkeep/Repair/Replacement | 5,908 | 4,602 | 3,914 | 14,424 | 5,365 | |||
| Stipends/Salaries | 2,670 | 2,670 | 3,050 | |||||
| Services Requirements | 1,255 | 1,255 | 2,289 | |||||
| Younger Church | 36 | 36 | 864 | |||||
| Music Group | - | - | 122 | |||||
| Health& Safety | 88 | 88 | 80 | |||||
| Misc/Donations | 181 | 181 | 256 | |||||
| Publicity | - | - | 30 | |||||
| ChildrenandFamilyWorker | 1,374 | 1,374 | - | |||||
| EchoIntern | - | - | 2,916 | |||||
| 104,840 | 4,602 | 3,914 | 113,356 | 109,516 | ||||
| 3(d) | Parish Office/Admin | |||||||
| Telephone | 587 | 587 | 658 | |||||
| Photo Copying/Supplies | 986 | 986 | 1,456 | |||||
| Repairs/Renewals | 180 | 180 | - | |||||
| AuditFee &AdminCosts | 3,988 | 3,988 | 3,098 | |||||
| Lease ofCopier | 2,155 | 2,155 | 2,155 | |||||
| 7,896 | - | - | 7,896 | 7,367 | ||||
| 3(e) | Church Halls | |||||||
| General Upkeep | 1,364 | 1,364 | 1,810 | |||||
| Heat &Light | 2,121 | 2,121 | 3,422 | |||||
| Water Rates | 440 | 440 | 582 | |||||
| Insurance | 1,293 | 1,293 | 1,279 | |||||
| General Repairs | 169 | 3,935 | 4,104 | 3,713 | ||||
| HallStorage & Car Park | - | - | 2,539 | |||||
| 5,387 | - | 3,935 | 9,322 | 13,345 | ||||
| 3(f) | Miscellaneous | |||||||
| Celebration/DayAway | - | - | 35 | |||||
| Bank Charges | 149 | 149 | 158 | |||||
| Magazine | 612 | 612 | 569 | |||||
| Bookstall | 351 | 351 | 356 | |||||
| 1,112 | - | - | 1,112 | 1,118 | ||||
| TOTAL RESOURCES USED | 132,426 | 13,843 | 7,849 | 154,118 | 151,534 | |||
| PAROCHIALCHURCH COUNCILOF RUSHDEN | ||||||
| ST. MARY'S PARISH CHURCH | ||||||
| STATEMENTOF FINANCIAL ACTIVITIES | ||||||
| For the year ended 31 December 2020 | ||||||
| Note | General Funds |
Restricted Funds |
Designated Funds |
Total 2020 |
Total 2019 |
|
| £ | £ | £ | £ | £ | ||
| INCOMING RESOURCES | ||||||
| VoluntaryIncome | 2a | 112,899 | 14,420 | 127,319 | 126,206 | |
| Legacies/Giftsin Memory | 2b | 411 | 411 | 683 | ||
| GrossIncomefrom Events/Activities | 2c | 6,389 | 968 | 7,357 | 20,072 | |
| Incomefrom Investment | 2d | 2,341 | 7,447 | 722 | 10,510 | 13,077 |
| Grants | 2e | 3,000 | 3,000 | 2,462 | ||
| Total Incoming Resources | 122,040 | 25,835 | 722 | 148,597 | 162,500 | |
| RESOURCES USED | ||||||
| Grants/Missions/Charities | 3a | 13,157 | 9,241 | 22,398 | 19,343 | |
| Support Costs | 3b | 34 | 34 | 845 | ||
| Church Expenses | 3c | 104,840 | 4,602 | 3,914 | 113,356 | 109,516 |
| ParishOffice/Admin | 3d | 7,896 | 7,896 | 7,367 | ||
| Church Hall | 3e | 5,387 | 3,935 | 9,322 | 13,345 | |
| Magazine &Bookstall | 3f | 963 | 963 | 925 | ||
| BankCharges | 3f | 149 | 149 | 158 | ||
| Celebration/DayAway | 3f | - | - | 35 | ||
| - | - | |||||
| - | - | |||||
| Total Resources Used | 132,426 | 13,843 | 7,849 | 154,118 | 151,534 | |
| NET INCOME | 10,386 - |
11,992 | 7,127 - |
5,521 - |
10,966 | |
| NET MOVEMENT IN FUNDS | 10,386 - |
11,992 | 7,127 - |
5,521 - |
10,966 | |
| BALANCE B/F AT 1st JANUARY 2020 | 119,850 | 157,633 | 19,870 | 297,353 | 286,387 | |
| BALANCE C/F AT 31st DECEMBER 2020 | 109,464 | 169,625 | 12,743 | 291,832 | 297,353 | |
9
| PAROCHIALCHURCH COUNCILOF RUSHDEN | |||||||||
| ST. MARY'S PARISH CHURCH | |||||||||
| NOTES TO THE FINANCIALSTATEMENTS | |||||||||
| **For the year ended ** | 31 December 2020 | ||||||||
| Total | Total | ||||||||
| 2020 | 2020 | 2019 | |||||||
| Unrestricted | Restricted | Designated | |||||||
| £ | £ | £ | £ | £ | |||||
| 1 | INVESTMENTS | ||||||||
| Fund | |||||||||
| 1CBF InvestmentIncomeFund | 6,057 | 6,057 | 6,057 | ||||||
| 2CharitiesInvestmentManager Ltd | 25,000 | 56,304 | 81,304 | 81,304 | |||||
| 3 CAFGrowth InvestmentFund | 39,467 | 39,467 | 39,467 | ||||||
| 4CCLACOIFCharitiesInvestmentFund | 538 | 538 | 538 | ||||||
| Totalper Balance Sheet | 25,538 | 95,771 | 6,057 | 127,366 | 127,366 | ||||
| MarketValue of Investments at 31stDecember 2020is £241,601.93 (2019-£270,199.19)Allabovefigures are | |||||||||
| shownat cost. | |||||||||
| 2 | BANK ACCOUNTS | ||||||||
| PCCAccount | 24,371 | ||||||||
| GiftAidAccount | 572 | ||||||||
| Mission Account | 1,240 | ||||||||
| DepositAccounts | 140,824 | ||||||||
| Total per Balance Sheet | 167,007 | ||||||||
| Less unpresented Cheques | -2,687 | ||||||||
| 164,320 | |||||||||
10
| PAROCHIALCHURCH COUNCILOF RUSHDEN | ||||||
| ST. MARY'S PARISH CHURCH | ||||||
| BALANCE SHEET | ||||||
| **As at ** | 31 December 2020 | |||||
| 2020 | 2019 | |||||
| Note | £ | £ | ||||
| FIXED ASSETS | ||||||
| InvestmentAssets | 1 | 127,366 | 127,366 | |||
| CURRENT ASSETS | ||||||
| Cash in Hand/Bank/ShortTerm Deposits | 2 | 167,007 | 174,265 | |||
| Prepayments/Debtors | 1,904 | 2,202 | ||||
| 296,277 | 303,833 | |||||
| LESS CURRENT LIABILTIES | ||||||
| ReservedExpenses | 1,758 | 1,565 | ||||
| DeferredIncome | - | - | ||||
| Unpresented Cheques | 2,687 | 4,915 | ||||
| NET ASSETS | 291,832 | 297,353 | ||||
| FUNDS | ||||||
| Unrestricted | 109,464 | 119,850 | ||||
| Restricted (see below) | 169,625 | 157,633 | ||||
| DesignatedFunds (see below) | 12,743 | 19,870 | ||||
| 291,832 | 297,353 | |||||
| RESTRICTED FUNDS | ||||||
| Fabric | 163,086 | 156,270 | ||||
| Mission | 1,353 | 833 | ||||
| Youth Work | 530 | 530 | ||||
| Refugee Support | 4,656 | - | ||||
| 169,625 | 157,633 | |||||
| DESIGNATED FUNDS | ||||||
| Fabric | 6,243 | 13,370 | ||||
| Rushden East Outreach | 6,000 | 6,000 | ||||
| WhoLet theDads Out | 500 | 500 | ||||
| 12,743 | 19,870 | |||||
| Approved by the ChurchCouncilon 2ndMarch 2021and signed on its behalf | ||||||
| Signed …………………………………………………... Chairman | ||||||
| Signed ………………………………………………….. Church Warden | ||||||