## SHERBORNE ABBEY WITH CASTLETON AND SAINT PAUL'S PAROCHIAL CHURCH COUNCIL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Registered Charity No. 1130082 Prepared by Bernard S Brown FCA Honorary Treasurer The Parish Office, 3 Abbey Close, Sherborne, DT9 3LQ ## **Sherborne Abbey with Castleton and St Paul’s Parochial Church Council** ## **Independent Auditor's Report to the Members of Sherborne Abbey with Castleton and St Paul’s Parochial Church Council** ## **Opinion** We have audited the financial statements of Sherborne Abbey with Castleton and St Paul’s Parochial Church Council for the year ended 31 December 2020, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its income and expenditure for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: - the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. ## **Other information** The Trustees are responsible for the other information. The other information comprises the information included in the Trustees' report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Sherborne Abbey with Castleton and St Paul’s Parochial Church Council** ## **Independent Auditor's Report to the Members of Sherborne Abbey with Castleton and St Paul’s Parochial Church Council** ## **Matters on which we are required to report by exception** In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - adequate accounting records have not been kept; or - the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report; or - certain disclosures of Trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of Trustees** As explained more fully in the Statement of Trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** We have been appointed under section 145 of the Charities Act 2011, and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **Sherborne Abbey with Castleton and St Paul’s Parochial Church Council** ## **Independent Auditor's Report to the Members of Sherborne Abbey with Castleton and St Paul’s Parochial Church Council** ## **Use of our report** This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Lanham & Francis Statutory Auditor 77a Cheap Street Sherborne Dorset DT9 3BA Date: 27 April 2021 ## **TREASURER’S REPORT** At this time last year, I wrote _“this year, we move into the interregnum with all of its uncertainties. This period of uncertainty might well affect our parish income and will certainly affect our parish costs.”_ How true this has been, but _not_ as a result of the interregnum, but as a result of the Covid-19 pandemic. I am writing this report whilst in lockdown 3 and reflecting on the content of the annual accounts for 2020. The effect of the pandemic and the associated restrictions have had a profound effect on parish income. All categories of parish income have been affected – planned giving, collections, visitor donations, parish fees for weddings and funerals, and most importantly investment income all show significant reductions. The Sherborne Abbey Festival was cancelled and both the Abbey Shop and the Digby Memorial Church Hall remained closed for much of the year. At the same time, we have been able to make considerable cost savings and have benefitted from Covid-19 related grants from HM Government. We have also benefitted from legacies, including a most generous bequest by the late Betty Randall of her cottage at number 2 Abbey Close for use by the parish. This has resulted in the parish accounts showing a surplus from all activities of £129,764 compared with a deficit in 2019 of £20,163. This surplus includes legacies and bequests of £188,500. Without these, the parish accounts would have shown a deficit of £58,736. Our largest expense was Diocesan Share of £192,697. This payment to the diocese is used largely to fund clergy stipends, pensions and housing. This means that much of the cost is effectively returned to the parish in supporting our stipendiary clergy. Our second largest cost is the annual grant to the Faith and Action Committee amounting to £50,000 and represents a tithe of the previous years’ giving and investment income of the three churches in the parish. The Friends of Sherborne Abbey have provided funds of £32,404 to cover the cost of several Abbey projects. Without such financial support, these costs would have fallen upon the parish. This year, we remain in the latter stages of the interregnum which is likely to impact our parish costs. Whilst the Covid-19 vaccinations are being rolled out in Sherborne, there is still considerable uncertainty about the future and how quickly the 1 pandemic will be brought under control. This period of uncertainty will continue to have an adverse effect on our parish income. My thanks, as always, go to the treasurers of all the various funds for their help and support throughout the year. ## **Bernard Brown Honorary Treasurer** 2 ## **SHERBORNE ABBEY WITH CASTLETON AND ST PAUL’S** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** The Statement of Financial Activities summarises the resources received and expended by the whole Parish during the year, and shows by how much expenditure exceeded income. ||||**2020**||**2019**| |---|---|---|---|---|---| ||**Unrestric**|**Restrict**|**Endowme**|**Total**|**Total**| ||**ted**|**ed**|**nt**||| ||**£**|**£**|**£**|**£**|**£**| |**INCOME AND**|||||| |**ENDOWMENTS FROM:**|||||| |**(Note 9)**|||||| |Donations and legacies|460,817|20,380|-|481,197|392,765| |Charitable church activities|41,048|2,753|-|43,801|46,327| |Other trading activities|29,138||-|29,161|146,183| |||23|||| |Investments|170,9|9,265|-|180,197|198,555| ||32||||| |**TOTAL**||**32,421**|**-**|**734,356**|**783,830**| ||**701,935**||||| |**EXPENDITURE ON: (Note**|||||| |**10)**|||||| |Charitable church activities|499,304||-|524,610|624,831| |||25,306|||| |Raising funds|79,978||-|79,982|179,162| |||4|||| |**TOTAL**|**579,282**|**25,3**|**-**|**604,**|**803,993**| |||**10**||**592**|| |**NET INCOME**|**122,653**|**7,111**|**-**|**129,764**|**(20,163**| |**(EXPENDITURE) BEFORE**|||||**)**| |**INVESTMENT (LOSSES)**|||||| |**GAINS**|||||| |Unrealised (losses) gains on|(306,5|20,958|143,1|(142,362|765,867| |investment assets|12)||92|)|| 3 |**NET (EXPENDITURE)**|**(183,85**|**28,069**|**143,192**|**(12,598)**|**745,704**| |---|---|---|---|---|---| |**INCOME**|**9)**||||| |Transfers between funds|(4,000)|4,000||**-**|**-**| ||||**-**||| |**NET MOVEMENT IN**|**(187,85**|**32,069**|**143,192**|**(12,59**|**745,704**| |**FUNDS**|**9)**|||**8)**|| |**Total funds at start of year**|**3,930,7**|**362,0**|**3,029,56**|**7,322,3**|**6,576,6**| ||**66**|**57**|**2**|**85**|**81**| |**TOTAL FUNDS AT END OF**|||||| |**YEAR**|**3,742,9**|**394,1**|**3,172,75**|**7,309,7**|| ||**07**|**26**|**4**|**87**|**7,322,3**| ||||||**85**| 4 ## **SHERBORNE ABBEY WITH CASTLETON AND ST PAUL’S** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2019** ||**Unrestric**|**Restrict**|**Endowme**|**Total**| |---|---|---|---|---| ||**ted**|**ed**|**nt**|| ||**£**|**£**|**£**|**£**| |**INCOME AND**||||| |**ENDOWMENTS FROM:**||||| |**(Note 9)**||||| |Donations and legacies|380,968|11,797|-|392,765| |Charitable church activities|30,443|15,884|-|46,327| |Other trading activities|144,600|1,583|-|146,183| |Investments|189,412|9,143|-|198,555| |**TOTAL**|**745,423**|**38,407**|**-**|**783,830**| |**EXPENDITURE ON: (Note**||||| |**10)**||||| |Charitable church activities|552,743|49,226|22,862|624,831| |Raising funds|178,605|557|-|179,162| |**TOTAL**|**731,348**|**49,783**|**22,862**|**803,**| |||||**993**| |**NET INCOME BEFORE**|**14,075**|**(11,37**|**(22,862)**|**(20,163)**| |**INVESTMENT GAINS**||**6)**||| |Unrealised gains on|389,724|48,024|328,119|765,867| |investment assets||||| |**NET INCOME**|**403,799**|**36,648**|**305,257**|**745,704**| |Transfers between funds|(6,100)|6,100|-|-| |**NET MOVEMENT IN**|**397,699**|**42,748**|**305,257**|**745,704**| |**FUNDS**||||| |**Total funds at start of year**|**3,533,0**|**319,30**|**2,724,30**|**6,576,6**| ||**67**|**9**|**5**|**81**| |**TOTAL FUNDS AT END OF**|**3,930,7**|**362,05**|**3,029,56**|**7,322,3**| |**YEAR**|**66**|**7**|**2**|**85**| 5 ## **SHERBORNE ABBEY WITH CASTLETON AND ST PAUL’S** ## **BALANCE SHEET AT 31 DECEMBER 2020** The Balance Sheet shows how the fund balances carried forward at the end of the year are represented by the Parish’s assets. ||**Note**|**2020**|**2019**| |---|---|---|---| |**FIXED ASSETS**||**£**|**£**| |Tangible fxed assets|2|1,328,988|1,328,988| |Investment assets|3|5,179,774|5,322,136| |||**6,508,762**|**6,651,124**| |**CURRENT ASSETS**|||| |Stock||15,|17,| |||424|324| |Debtors|4||4,715| |||188,772|| |Short term deposits|||442,515| |||337,699|| |Cash at bank||265,|213,947| |||310|| |||**807**|**678,501**| |||**,205**|| |**CURRENT LIABILITIES**|||| |Creditors:|||| |Amounts falling due in less than|5|(6,180)|(7,240)| |one year|||| |**NET CURRENT ASSETS**||**801,025**|**671,261**| |**TOTAL NET ASSETS**||**7,309,787**|**7,322,385**| |**REPRESENTED BY:**|||| |**PARISH FUNDS**|6||| |Unrestricted||3,742,907|3,930,766| |Restricted||394,126|362,057| |Endowment||3,172,754|3,029,562| |**TOTAL FUNDS**||**7,309,787**|**7,322,385**| Approved by the PCC on 11 February 2021 and signed on its behalf by: 6 Mr David Fifield (Lay Chairman) Mr J Rodd (Member and Churchwarden) _The notes and schedules on pages 6 to 26 form part of these financial statements._ 7 ## **SHERBORNE ABBEY WITH CASTLETON AND ST PAUL’S** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**Cash fows from operating activities:**||| |**Net cash (used in) operating**||| |**activities**|**(233,65**|**(212,12**| ||**0)**|**1)**| |**Cash fows from investing activities:**||| |Interest and dividends from investments|180,197|198,555| |**Net cash provided by investing**|**180,197**|**198,555**| |**activities**||| |**Change in cash and cash equivalents**|**(53,453**|**(13,566)**| ||**)**|| |**in the year**||| |**Cash and cash equivalents at start**|**656,462**|**670,028**| |**of year**||| |**Cash and cash equivalents at end of**|**603,009**|**656,462**| |**year**||| |**Reconciliation of net expenditure**||| |**before investment gains (losses)**||| |**Net income before investment**|129,764|(20,163)| |**(losses) gains**||| |**Adjustments for:**||| |Interest and dividends from investments|(180,197|(198,555| ||)|)| |(Increase) decrease in debtors|(184,057|3,600| ||)|| |(Decrease) increase in creditors|(1,060)|1,216| |Decrease in stock|1,9|1,7| ||00|81| |**Net cash (used in) operating**||| |**activities**|**(233,65**|**(212,12**| ||**0)**|**1)**| |**Analysis of cash and cash**||| |**equivalents:**||| |Cash at bank|265,310|213,947| |Short term deposits|337,699|442,515| ||**603,009**|**656,462**| 8 ## **NOTE 1 – ACCOUNTING POLICIES** ## **Summary of significant accounting policies and key accounting estimates** The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## **Statement of compliance** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Charities Act 2011. The financial statements have been prepared under the historical cost convention, except for the valuation of investment assets, which are shown at fair value. ## **Basis of preparation** Sherborne Abbey with Castleton and St Paul’s Parochial Church Council meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in the financial statements are rounded to the nearest £1. ## **Going concern** These financial statements have been prepared on a going concern basis. The Trustees have considered the charity’s forecast cash flows for a period exceeding 12 months from the date of approval of these financial statements and consider that the charity will be able to operate within the bank facilities currently available to it, and hence that there are no material uncertainties about the charity’s ability to continue operations for the foreseeable future. ## **Funds** Funds are represented as: Unrestricted funds – funds that are not subject to any known restrictions in application and are available for the charity’s general purposes; Designated funds – unrestricted funds that are for the time being set aside by the charity for particular purposes; Restricted funds – funds which through the wishes of the donor(s) are restricted to a particular purpose or, in the case of endowments, have restrictions placed on the use of capital. Funds for church groups that owe their main affiliation to another body are not accounted for. 9 ## **Incoming Resources** RECOGNITION OF INCOME AND ENDOWMENTS Collections and donations, including planned giving donations, are recognised on the date received. Legacies are accounted for in the year of receipt, unless the charity has been advised that a legacy has arisen in the year under review and the amount of any such legacy can be established with reasonable certainty. Tax recoverable on Gift Aid donations is recognised when the donation is received. Grants are recognised on the due date. Income from fund-raising events and sales is accounted for gross on the date of the event. Gifts of goods and services are quantified as intangible income where they are of material value to the charity and not a customary feature of church life. VAT recoverable on listed building repairs is recognised when claims for repayment are submitted. Monies that are collected on behalf of other organisations or for presentation to individuals on customary occasions are not accounted for as incoming resources. ## INVESTMENTS AND DEPOSITS Dividends and interest receivable are recognised when due. Notional interest accrued between the last due payment date and the end of the financial year is accounted for on the first due payment date in the following year. Realised gains and losses are recognised when investments are sold. Unrealised gains and losses are recognised by revaluing investments at market value at the end of the year. ## OTHER INCOME Insurance claim income is accounted for net of losses incurred. Sales of fixed assets are accounted for net of book value. Rental income and facility charges are recognised when due. Statutory fees are recognised when received. ## **Resources Expended** Payments due, including grants and donations, are accounted for when a binding liability is incurred, an invoice received or a payment made, whichever is the earliest. Diocesan Share is accounted for as payable. Any amount unpaid at the end of the financial year is shown as a liability. ## **Fixed Assets** Consecrated and beneficed land and property and inalienable church furnishings and equipment are excluded from the financial statements. All expenditure incurred on maintenance or improvement of such property or furnishings is written off in the financial year in which it is incurred. Other land and buildings in the beneficial ownership of the charity are included in 10 the financial statements at cost. Under the transitional rules of FRS102 paragraph 35.10, the land and buildings have been revalued at the date of transition (1/1/15). The basis of this valuation was market value which was established by the charity. This value is then carried forward as the deemed cost. An annual review of the properties will be undertaken to determine whether or not there has been any impairment which would reduce the market value of the land and buildings. The value of all office and miscellaneous equipment is written off in the financial year in which it is acquired except for assets costing in excess of £5,000 which are capitalised and depreciated. The value of consumable goods in hand is considered immaterial. Investments are included at their market value on the last working day of the accounting year. ## **Stock** Stock has been valued at the lower of cost and net realisable value. ## **Volunteers** Volunteers play an enormous role in all aspects of the life and operations of the charity. There are just eight employees engaged in running the parish office, the Abbey shop, church hall and Abbey vestry. The Parish Report describes the wide range of activities undertaken by the charity and staffed almost exclusively by volunteers. 11 ## **NOTE 2 – TANGIBLE FIXED ASSETS – PROPERTY** In accordance with the Charities Act 2011 and the PCC (Powers) Measure 1956, consecrated property, church furnishings etc. and benefice property (eg Vicarage) are excluded from these financial statements. The property included in these financial statements is in the beneficial ownership of the Parish but vested in the Diocesan Board of Finance. ## **Cost at 1 January and 31 December 2020 £1,328,988** ## **NOTE 3 – INVESTMENT ASSETS** ||At 1/1/20|Revaluati|At| |---|---|---|---| |||on|31/12/20| |**Permanent Endowment**||**£**|**£**| ||**£**||| |CBF Investment Fund|||| |O’Shea*|1,859,21|127,852|1,987,0| ||1||63| |Ashford*||8,326|| ||121,072||129,398| |Chancel*||7,014|| ||101,999||109,013| ||**2,082,2**||**2,225,4**| ||**82**|**143,192**|**74**| |**Restricted**|||| |CBF Investment Fund -|||| |Castleton|**304,765**|**20,958**|**325,72**| ||||**3**| |**Unrestricted**|||| |CBF Investment Fund -||41,903|| |Bequest|609,351||651,254| |M&G - Charifund|2,026,29|(351,550|1,674,7| ||3|)|43| |M&G - Charibond||3,135|| ||299,445||302,580| ||**2,935,0**||**2,628,5**| ||**89**|**(306,51**|**77**| |||**2)**|| |**Total Investments**|**5,322,1**||**5,179,7**| ||**36**|**(142,36**|**74**| |||**2)**|| * Held by the Diocesan Board of Finance, as custodian trustee, for the benefit of the Parish. Income from the O’Shea and Ashford funds may be used for any of the charity’s general purposes. The Chancel fund arises from 12 capitalising of Lay Rector responsibilities; the income from this fund may be used only for the upkeep of the Chancel of the Abbey, and the charity’s policy is to use this income to contribute to the overall cost of insuring the Abbey. The investment assets comprise units / shares in the CBF Church of England Investment Fund and the M&G Charifund and M&G Charibond charity funds. These funds aim to generate capital appreciation and rising income and a total return in excess of their benchmarks, whilst adopting an appropriate Ethical Investment Policy. 13 ## **NOTE 4 – DEBTORS** |**NOTE 4 – DEBTORS**||||| |---|---|---|---|---| ||||**2020 **|**2019**| |||||**£**| |**£**||||| |Tax and VAT recoverable|||3,518|| |4,042||||| |Legacies receivable|||185,000|| |-||||| |Other debtors||||254| |673||||| ||||**188,772**|| |**4,715**||||| |**NOTE 5 – CURRENT LIABILITIES**||||| |Creditors – amounts falling due in less than one year||||**2020**| |**2019**||||| ||||**£**|**£**| |Grants (FIAC)|||1,000|| |2,000||||| |Other creditors|||5,180|| |5,240||||| ||||**6,180**|| |**7,240**||||| |**NOTE 6 – ANALYSIS OF NET ASSETS**||**BY FUND**||| ||**Unrestricted Restricted**|||| |**Endowment Total**||||| |||**£**||**£**| |**£ £**||||| |Central funds|3,442,8|8,242|3,172,75|6,623,88| ||85||4|1| |Castleton Church|-|366,669|-|366,669| |St Paul’s Church|108,89|-|-|108,895| ||5|||| |Digby Memorial Church Hall|11,517|-|-|11,517| |Sherborne Abbey Shop|28,704|**-**|-|28,704| |Sherborne Festival|126,6|-|-|126,603| ||03|||| |Faith in Action Committee|20,818|-|-|20,818| |Abbey Choir||15,445|-|15,445| ||-|||| |Abbey Music|3,4|-|-|3,485| ||85|||| |Abbey Floral|-|2,079|-|2,0| |||||79| |Abbey Bell Ringers|-|1,6|-|| |||91||1,691| 14 **Total Net Assets 3,742, 394,12 3,172,7 7,309, 907 6 54 787** Details of current assets and liabilities are shown in the fund details in Note 12. ## **NOTE 7 – STAFF REMUNERATION** There were eight employees during the year (2019 – ten) and their aggregate remuneration was: |aggregate remuneration was:||| |---|---|---| ||**2020**|**2019**| ||**£**|| |**£**||| |Salaries|110,184|| |129,090||| |Employers’ N I Contributions||1,862| |4,804||| |Employers’ pension contributions||1,334| |1,343||| ||**113,380**|| ## **135,237** No employee received remuneration in excess of £60,000. **NOTE 8 – TRUSTEES’ EXPENSES AND RELATED PARTY TRANSACTIONS** During the year, the clergy members of the charity were reimbursed in respect of their expenses, as clergy, in the sum of £9,251 (2019 - £17,374). During the year there were no related party transactions. ## **NOTE 9 – INCOME AND ENDOWMENTS** |||**2020**| |---|---|---| |**2019**||| |**Donations and legacies**|**£**|**£**| |Parish giving and church collections|177,671|226,853| |Gift Aid – income tax recoverable|37,510|48,023| |Church collecting boxes|7,962|40,033| |Donations to special appeals|10,824|8,731| |Festival sponsorship|12,838|28,403| |Bequests and legacies|188,500|1,750| |Other donations|45,892|38,972| |**Total donations and legacies**|**481,197**|**392,765**| |**Charitable church activities**||| |Fees for weddings and funerals and related|10,797|38,988| |income||| |St Paul’s Community Project|837|3,724| |Other events|547|3,615| |Grants from HMG|31,620|-| 15 |**Total income from charitable church**|**43,801**|**46,327**| |---|---|---| |**activities**||| |**Other trading activities**||| |Sherborne Abbey Shop - sales|9,999|30,309| |Festival – ticket and programme sales|1,095|77,905| |Digby Memorial Church Hall - lettings|11,877|29,519| |Concerts and recitals|513|4,168| |Education and Training events|520|2,283| |Other events||1,583| ||23|| |Social Committee – defcit|(3|416| ||59)|| |Grants from HMG|5,|-| ||493|| |**Total income from other trading activities**|**29,161**|**146,183**| |**Investment income**||| |CBF Investment Fund dividends|89,709|87,104| |M&G Charity Funds dividends|88,988|108,024| |Interest on deposits|1,500|3,427| |**Total investment income**|**180,197**|**198,555**| |**TOTAL INCOME AND ENDOWMENTS**|**734,356**|**783,830**| 16 ## **NOTE 10 – EXPENDITURE** ||**2020**|**2019**| |---|---|---| |**Charitable church activities**|**£**|**£**| |The Ministry|215,073|222,335| |Worship|90,|112,833| ||146|| |Faith in Action Committee – grants paid|58,|54,750| ||005|| |Church in the Community|14,288|14,283| |Digby Memorial Church Hall||6,861| ||280|| |Fabric|58,296|103,141| |Management and administration|80,750|90,617| |Bell ringers|1,891|3,902| |Flower arrangers|1,076|4,300| |Other events|805|7,| |||809| 17 |Governance costs – Auditors’ remuneration|4,000|4,000| |---|---|---| |**Total expenditure from charitable church**|**524,610**|**624,831**| |**activities**||| |**Expenditure on raising funds**||| |Digby Memorial Church Hall|23,235|32,252| |Sherborne Abbey Shop – cost of goods sold|7,327|17,792| |Sherborne Abbey Shop – shop overheads|7,723|10,314| |Festival – event expenditure and grants|41,180|114,972| |Music Committee expenditure|513|1,392| |Education and Training events|-|1,499| |Advertising and other expenses||| ||4|941| |**Total expenditure on raising funds**|**79,982**|**179,162**| 18 **TOTAL EXPENDITURE** **604,592 803,993** ## **NOTE 11 – FRIENDS OF SHERBORNE ABBEY** During the year, the Friends of Sherborne Abbey have funded the costs of several Abbey projects providing total funding of £32,404 (2019 - £57,529). ## **NOTE 12 – ANALYSIS OF PARISH FUNDS** The detailed analysis by fund of income and endowments and expenditure is shown in the schedules on pages 12 to 26 which are an integral part of this note. 19 ## **PARISH CENTRAL FUNDS** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** The Statement of Financial Activities summarises the resources received and expended by the Parish Central Funds during the year, and shows by how much income exceeded expenditure. |||**2020**|||| |---|---|---|---|---|---| |**2019**|||||| |**INCOME AND ENDOWMENTS**|**Unrestrict**|**Restrict**|**Endowm**|**Total**|**Total**| |**FROM:**|**ed**|**ed**|**ent**||| |**Donations and legacies**|**£**|**£**|**£**|**£**|**£**| |Planned Giving and Gift Day|102,210|-|-|102,210|115,39| ||||||1| |Planned Giving envelopes|8,350|-|-|8,350|11,503| |Collections (including Gift Aid|16,181|-|-|16,181|46,313| |envelopes)|||||| |Income tax recoverable|28,228||-|28,228|40,506| |||-|||| |Collecting boxes|7,|-|-|7,894|35,307| ||894||||| |Donations:|||||| |Boys’ School|10,800|-|-|10,800|10,5| ||||||00| |Girls’ School|5,950|-|-|5,950|5,950| |FSA contribution to insurance|24,|-|-|24,182|11,843| ||182||||| |Others (including guided|2,||-|2,395|8,778| |tours)|395|-|||| |Bequests|172,|-|-|172,0|1,750| ||000|||00|| |**Other trading activities**|||||| |Fund-raising events|161|-|-|1|2,699| |||||61|| |**Charitable church activities**|||||| |PCC fees and related income|7,394|-|-|7,394|19,856| |**Investments**|||||| |Interest and dividends||3,0|-|169,7|187,03| ||166,684|54||38|5| |**Grants from HMG**||||31,6|-| ||31,620|-||20|| |**Total direct income**|**584**|**3,**|**-**|**587,**|**497,43**| ||**,049**|**054**||**103**|**1**| |**Transfers from other accounts**|||||| |Castleton – contribution to Share|3,|-|-|3,000|3,000| ||000||||| |St Paul’s – contribution to Share||-|-|29,226|28,172| ||29,226||||| |Sherborne Abbey Shop||-|-|-|2,000| ||-||||| |Music Committee|1,|-|-|1,500|5,000| ||500||||| |**TOTAL**|**617,775**|**3,054**|**-**|**620,**|**535,60**| |||||**829**|**3**| |**EXPENDITURE ON:**– see|||||| |“Analysis of Expenditure” for|||||| |further details|||||| |The Ministry|212,787|-|-|212,787|218,40| 20 ||||||7| |---|---|---|---|---|---| |Worship|79,173|-|-|79,173|91,498| |The Church in the Community|5,|-|-|5,403|8,800| ||403||||| |Fabric|46,181|||46,1|55,081| |||||81|| |||-|-||| |Publicity and fund-raising|-|-|-||1,883| |||||-|| |Management and Administration|70,606|-|-|70,606|80,592| |**Total direct expenditure**|**414,150**||**-**|**414,15**|**456,26**| |||||**0**|**1**| |||**-**|||| |**Transfers to other accounts**|||||| |St Paul’s Church – Donations|6,798|-|-|6,798|7,426| |Abbey Choir – Vincent Evans|2,000|-|-|2,0|3,4| |Awards||||00|00| |Abbey Floral Fund|-|-|-||1,0| ||||||00| |||||-|| |Faith in Action Committee|50,000|-|-|50,0|49,0| |||||00|00| |**TOTAL**|**472**|**-**|**-**||**517,08**| ||**,948**|||**472,94**|**7**| |||||**8**|| |**NET INCOME**|**144,827**|**3,054**|**-**|**147,88**|**18,516**| |||||**1**|| |Transfer between funds|3,054|(3,054)||-|-| ||||-||| |Unrealised (losses) gains on||-|||| |investment assets
**Net movement in funds**|(306,512)
**(158,**
**631)**|-|143,19
2
**143,1**
**92**|(163,32
0)
**(15,43**
**9)**|717,84
3
**736,35**
**9**| |||**-**|||| |**Balance b/f at start of year**|**3,601,516**||||**5,902,**| |||**8,242**|**3,029,56**|**6,639,3**|**961**| ||||**2**|**20**|| |**Balance c/f at end of year**|**3,442**|**8,**|**3,172,**|**6,623,**|**6,639,**| ||**,885**|**242**|**754**|**881**|**320**| 21 ## **PARISH CENTRAL FUNDS** ## **BALANCE SHEET AT 31 DECEMBER 2020** ||**2020**|**2019**| |---|---|---| |**FIXED ASSETS**|**£**|**£**| |Tangible fxed assets – Property|1,328,988|1,328,988| |Investment assets|4,854,051|5,017,371| ||**6,183,039**|**6,346,359**| |**CURRENT ASSETS**||| |Debtors|173,718|4,042| |Short term deposits – CBF|78,321|140,642| |Deposit Fund||| |Cash at bank|192,803|152,277| ||**444,842**|**296,961**| |**CURRENT LIABILITIES**||| |Creditors:||| |Amounts falling due in less than|(4,000)|(4,000)| |one year||| |**NET CURRENT ASSETS**|**440,842**|**292,961**| |**TOTAL NET ASSETS**|**6,623,881**|**6,639,320**| |**REPRESENTED BY:**||| |**PARISH FUNDS**||| |Unrestricted|3,442,885|3,601,516| |Restricted|8,242|8,242| |Endowment|3,172,754|3,029,562| |**TOTAL FUNDS**|**6,623,881**|**6,639,320**| 22 ## **PARISH CENTRAL FUNDS** ## **ANALYSIS OF EXPENDITURE** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**The Ministry**_– our contribution towards the cost_||| |_of the ordained clergy serving the Parish_||| |Diocesan Share|192,697|190,262| |Clergy expenses|7,481|15,828| |Clergy housing|12,609|12,317| ||**212,787**|**218,407**| |**Worship**_– what we need to spend to use the_||| |_Abbey as a place of worship_||| |Vestments, frontals and plate|-|3,242| |Robes – care and replacement||| ||437|468| |Altar goods|2,103|| |||4,621| |Liturgical material||179| ||123|| |Audio/ CCTV maintenance||-| ||2,430|| |Organists and choir|22,381|22,145| |Abbey staf|51,699|60,843| ||**79,173**|**91,498**| |**The Church in the Community**||| |Parish, Deanery and National afiliations||689| ||60|| |Sherborne Young Singers|63|1,250| |Church Hall|280|6,861| |St James Longburton - donation|5,000|-| ||**5,403**|**8,800**| |**Fabric – The Church Buildings**_– maintaining_||| |_and improving the fabric of our heritage_||| |General maintenance and improvements|3,254|9,320| |Heating and lighting|12,|18,600| ||300|| |Insurance and security|30,627|27,161| ||**46,181**|| |||**55,081**| |**Publicity and Fund-raising expenses**||| |Insight lectures, advertising and incidental|-|| |expenses||1,883| ||**-**|**1,883**| |**Management and Administration**_– providing_||| |_administrative and secretarial support and ofice_||| |_facilities_||| |Support staf|38,972|50,779| |Printing and ofice goods|7,480|8,982| |Postage, Covid-19 and sundries|4,319|2,061| |Telephone|3,410|2,893| |Ofice rent, redecoration and utilities|8,222|8,623| |Computers and internet|3,471|1,964| |Audit fees and bank charges|4,732|5,290| ||**70,606**|**80,592**| |**Faith in Action**_– tangible help for those in need_||| |Contribution to FIAC|**50,000**|**49,000**| |**TOTAL EXPENDITURE**|**464,150**|**505,261**| 24 ## **CASTLETON CHURCH** Fund restricted to the general purposes and objects of the Castleton Committee ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**INCOME AND ENDOWMENTS FROM:**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |**Donations and legacies**||| |COLLECTIONS (excluding envelopes & Gift Aid of £2,091|2,205|3,974| |(2019 - £4,953) paid directly into Parish Central Funds)||| |OTHER DONATIONS AND ALMS BOX|542|1,526| |LEGACIES|16,000|-| |**Charitable church activities**||| |FEES|1,353|6,385| |**Investments**||| |CBF DEPOSIT FUND AND CBF INVESTMENT FUND|9,234|9,077| |**TOTAL**|**29,334**|**20,962**| |**EXPENDITURE ON:**||| |**Charitable church activities**||| |CHURCH & CHURCHYARD MAINTENANCE|3,355|8,030| |INSURANCE AND SECURITY|3,192|3,369| |HEAT AND LIGHT|2,256|3,090| |HONORARIA|3,277|4,369| |OTHER EXPENSES|1,986|3,831| |**Total direct expenditure**|**14,066**|**22,689**| |TRANSFER TO PARISH GENERAL FUND – PARISH|3,000|3,000| |SHARE||| |**TOTAL**|**17,066**|**25,689**| |**NET INCOME (EXPENDITURE)**|**12,268**|**(4,727)**| |Unrealised gain on investment assets|20,958|48,024| |**Net movement in funds**|**33,226**|**43,297**| |**Balance brought forward at start of year**|**333,443**|**290,146**| |**BALANCE CARRIED FORWARD AT END OF YEAR**|**366,**|**333,443**| ||**669**|| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNTS:||| |CURRENT ACCOUNT|5,586|2,552| |DEPOSIT ACCOUNT|20,360|26,126| |CBF INVESTMENT FUND SHARES|325,723|304,765| |DEBTORS|15,000|-| 26 **NET ASSETS** **366,669 333,443** 27 ## **ST PAUL’S CHURCH** Unrestricted fund designated for the general purposes and objects of the St Paul’s Committee. ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**INCOME FROM:**||| |**Donations**||| |COLLECTIONS|4,228|5,401| |PLANNED GIVING|37,970|35,607| |TAX RECOVERABLE|8,4|6,494| ||82|| |OTHER DONATIONS|5,585|3,805| |**Charitable church activities**||| |HALL LETTING FEES|650|3,248| |TODDLER GROUP|78|961| |TEA AND CHAT|759|1,057| |MEET AND EAT|-|1,706| |EVENT INCOME|547|3,615| |**Investments**||| |CBF DEPOSIT FUND INTEREST|3|696| ||48|| |**Total direct income**|**58,647**|**62,59**| |||**0**| |TRANSFERS FROM PARISH CENTRAL|6,798|7,426| |FUND||| |**TOTAL**|**65,445**|**70,01**| |||**6**| |**EXPENDITURE ON:**||| |**Charitable church activities**||| |WATER, GAS, ELECTRICITY AND|2,854|3,267| |INSURANCE||| |OFFICE COSTS, TELEPHONE AND|9,539|10,002| |INTERNET||| |MAINTENANCE AND EQUIPMENT|1,726|6,073| |CLERGY EXPENSES|2,286|3,928| |EVENT EXPENSES|805|7,809| |TODDLER GROUP|-|765| |TEA AND CHAT||1,309| ||417|| |MEET AND EAT|-|1,544| |YOUTH INTERN|8,748|8,726| |SUNDRY EXPENSES|7|192| ||74|| |**Total direct expenditure**|**27,149**|**43,61**| |||**5**| |TRANSFER TO PARISH CENTRAL FUND –|29,2|28,172| |SHARE|26|| |**TOTAL**|**56,375**|**71,78**| |||**7**| |**NET INCOME (EXPENDITURE)**|**9,070**|**(1,771**| |||**)**| |**Balance brought forward at start of**|**99,825**|**101,5**| |**year**||**96**| |**BALANCE CARRIED FORWARD AT END**|**108,89**|**99,82**| |**OF YEAR**|**5**|**5**| 28 ## **BALANCE SHEET AT 31 DECEMBER 2020** |**Current assets**||| |---|---|---| |BANK ACCOUNTS:||| |CURRENT ACCOUNT|14,100|5,470| |CBF DEPOSIT FUND|94,022|93,674| |CASH|7|681| ||73|| |**NET ASSETS**|**108,89**|**99,82**| ||**5**|**5**| **Note:** St Paul’s Church has made a contribution to the PCC’s Parish Share of £29,226. In addition, an estimated further £10,000 of giving by worshippers primarily attending St Paul’s is made directly to the Parish Central Fund. ## **DIGBY MEMORIAL CHURCH HALL** Unrestricted fund designated for the improvement, maintenance and operation of the Church Hall ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**DECEMBER 2020**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |**INCOME FROM:**||| |**Other trading activities**||| |LETTING AND SUNDRY INCOME|11,877|29,519| |**Investments**||| |CBF DEPOSIT FUND INTEREST|65|116| |**Grants from HMG**|3,093|-| |**TOTAL**|**15,035**|**29,635**| |**EXPENDITURE ON:**||| |**Raising funds**||| |FURNITURE, FITTINGS AND EQUIPMENT|-|6,096| |RUNNING EXPENSES:||| |WAGES|5,400|5,750| |MAINTENANCE|2,524|2,010| |SERVICES|10,267|13,415| |OTHER EXPENSES|5,044|4,981| |**TOTAL**|**23,235**|**32,252**| |**NET (EXPENDITURE)**|**(8,200**|**(2,617)**| ||**)**|| |**Balance brought forward at start of year**|**19,717**|**22,334**| |**BALANCE CARRIED FORWARD AT END OF YEAR**|**11,517**|**19,717**| 29 ## **BALANCE SHEET AT 31 DECEMBER 2020** |**BALANCE SHEET AT 31 DECEMBER 2020**||| |---|---|---| |**Current assets**||| |BANK ACCOUNTS:||| |CURRENT ACCOUNT|1,715|7,980| |CBF DEPOSIT ACCOUNT|9,802|11,737| |**NET ASSETS**|**11,517**|**19,717**| 30 ## **SHERBORNE ABBEY SHOP** Unrestricted fund ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**INCOME FROM:**||| |**Other trading activities**||| |SALES|9,999|30,309| |**Investments**||| |BANK INTEREST|6|7| |**Grants from HMG**|2,400|-| |**TOTAL**|**12,405**|**30,316**| |**EXPENDITURE ON:**||| |**Raising funds**||| |COST OF SALES|7,327|17,792| |STAFF SALARIES|6,000|7,443| |PREMISES AND SHOP EXPENSES|1,723|2,871| |**Total direct expenditure**|**15,050**|**28,106**| |TRANSFER TO PARISH CENTRAL FUND|-|2,000| |**TOTAL**|**15,050**|**30,106**| |**NET (EXPENDITURE) INCOME**||**210**| ||**(2,645**|| ||**)**|| |**Balance brought forward at start of year**|**31,349**|**31,139**| |**BALANCE CARRIED FORWARD AT END OF YEAR**||**31,349**| ||**28,704**|| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNTS:||| |CURRENT ACCOUNTS|8,019|9,106| |DEPOSIT ACCOUNT|5,091|5,099| |CASH|170|170| |STOCK|15,424|17,324| |**Less: Creditors**|-|(350)| |**NET ASSETS**|**28,7**|**31,349**| ||**04**|| 31 ## **SHERBORNE FESTIVAL** Unrestricted fund designated for purposes associated with the Sherborne Festival of Arts & Music ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**DECEMBER 2020**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |**INCOME FROM:**||| |**Donations**||| |COMPANY AND TRUST SPONSORSHIP|1,310|15,800| |PERSONAL SPONSORSHIP|11,528|12,603| |INCOME TAX RECOVERABLE|8|1,023| ||00|| |FREE EVENT COLLECTIONS||3,663| ||-|| |**Other trading activities**||| |TICKET AND PROGRAMME SALES|1,095|77,905| |**Investments**||| |BANK AND CBF DEPOSIT FUND INTEREST|4|1,558| ||48|| |**TOTAL**||**112,55**| ||**15,181**|**2**| |**EXPENDITURE ON:**||| |**Raising funds**||| |PERFORMANCE FEES AND INCIDENTAL EXPENSES|12,819|105,78| |||1| |**Grants made**||| |ABBEY CHOIR FUND|5,000|5,000| |ABBEY CHOIR – SINGING LESSONS, COURSES AND|2,048|42| |COMPUTER||| |ABBEY ORGAN UPKEEP AND ORGAN HIRE|2,313|1,471| |ABBEY ORGAN RECONDITIONING|22,000|5,350| |FESTIVAL PIECE FOR 20THYEAR|-|1,250| |SHERBORNE YOUNG SINGERS – CHOIR GOWNS|-|396| |DOUZELAGE|1,000|-| |INDIVIDUALS|1,000|682| |**TOTAL**|**46,1**|**119,97**| ||**80**|**2**| |**NET (EXPENDITURE)**|**(30,99**|**(7,4**| ||**9)**|**20)**| |**Balance brought forward at start of year**|**157,60**|**165,02**| ||**2**|**2**| 32 |**BALANCE CARRIED FORWARD AT END OF YEAR**|**126,60**|**157,60**| |---|---|---| ||**3**|**2**| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNTS:||| |CURRENT ACCOUNT|6,704|2,847| |DEPOSIT ACCOUNTS|40,449|75,462| |CBF DEPOSIT FUND|80,6|80,183| ||30|| |CREDITORS||| ||(1,180)|(890)| |**NET ASSETS**|**126,6**|**157,60**| ||**03**|**2**| ## **FAITH IN ACTION COMMITTEE** Unrestricted fund designated for Parish giving to mission societies, home and overseas charities and other appeals ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**DECEMBER 2020**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |**INCOME FROM:**||| |**Donations**||| |DONATIONS TO SPECIAL APPEALS|10,824|8,731| |DONATIONS RECREDITED (SEE FIAC REPORT)|1,900|-| |**Investments**||| |BANK INTEREST AND REFUND OF CHARGES|327|-| |**Total direct income**|**13,051**|**8,731**| |GRANT FROM PARISH CENTRAL FUND|50,000|49,000| |**TOTAL**|**63,051**|**57,731**| |**EXPENDITURE ON:**(SEE FIAC REPORT FOR FULL||| |DETAILS)||| |**Grants**||| |INTERNATIONAL|20,808|20,192| |NATIONAL|7,800|8,700| |LOCAL|18,542|16,712| |SPECIAL PROJECTS|10,7|8,649| ||51|| |**Management and administration**||| |EXPENSES|1|497| ||04|| |**TOTAL**|**58,005**|**54,750**| 33 |**NET INCOME**|**5,046**|**2,981**| |---|---|---| |**Balance brought forward at start of year**|**15,772**|**12,791**| |**BALANCE CARRIED FORWARD AT END OF YEAR**|**20,818**|**15,772**| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNT|21,818|17,772| |**Current liabilities**||| |PLEDGES NOT PAID BEFORE YEAR END|(1,000)|(2,000)| |**NET ASSETS**|**20,818**|**15,772**| ## **ABBEY CHOIR FUND** Fund restricted to the general purposes and welfare of the Abbey Choir ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**DECEMBER 2020**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |**INCOME FROM:**||| |**Donations**||| |CAROL SERVICE – ABBEY COLLECTION|942|3,271| |OTHER SERVICES & CONCERT|-|1,588| |DONATIONS|1|375| ||23|| |**Charitable church activities**||| |WEDDING AND FUNERAL FEES|500|3,619| |**Other trading activities**||| |SUNDRY INCOME|-|829| |**Investments**||| |CBF DEPOSIT FUND INTEREST||60| ||28|| |**Total direct income**||**9,742**| ||**1,593**|| |TRANSFERS FROM OTHER PARISH FUNDS:||| |FESTIVAL FUND - CHOIRBOYS’ PAY AND MUSIC|5,0|5,0| ||00|00| |CENTRAL FUND – VINCENT EVANS’ AWARDS|2,0|3,4| ||00|00| 34 |**TOTAL**|**8,5**|**18,1**| |---|---|---| ||**93**|**42**| |**EXPENDITURE ON:**||| |**Charitable church activities**||| |CHOIRBOYS’ PAY|2,212|2,276| |WEDDING AND FUNERAL FEES|500|3,142| |MUSIC PURCHASES|1,828|1,957| |SOCIAL EVENTS|288|3,131| |CHOIRBOYS’ MUSIC LESSONS|578|613| |VINCENT EVANS’ AWARDS|2,000|3,400| |PRIZES AND GIFTS|-|5| |||15| |LIBRARIAN|800|1,560| |CHOIR ROBES|-|887| |OTHER EXPENSES|67|854| |**TOTAL**|**8,273**|**18,335**| |**NET INCOME (EXPENDITURE)**|**320**|**(193)**| |**Balance brought forward at start of year**|**15,125**|**15,318**| |**BALANCE CARRIED FORWARD AT END OF YEAR**|**15,445**|**15,125**| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNTS:||| |CURRENT ACCOUNT|8,744|8,354| |CBF DEPOSIT FUND|6,6|6,619| ||47|| |DEBTORS||152| ||54|| |**NET ASSETS**|**15,445**|**15,125**| ## **ABBEY MUSIC COMMITTEE** Unrestricted fund **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**DECEMBER 2020**|||| |---|---|---|---| |||**2020**|**2019**| |||**£**|**£**| |**INCOME FROM:**|||| |**Other trading activities**|||| |CONCERTS AND RECITALS|||2,727| |||-|| |PERFORMING RIGHTS SOCIETY – income||5|916| |||13|| |VERGER FEES|||| |STAGING FEES FROM HIRERS|-||375| ||-||150| 35 |**TOTAL**|**5**|**4,**| |---|---|---| ||**13**|**168**| |**EXPENDITURE ON:**||| |**Raising funds**||| |PERFORMING RIGHTS SOCIETY – payments|513|917| |ADVERTISING|-|30| |VERGER FEES||375| ||-|| |STAGING FEES TO VERGERS|-|70| |**Total direct expenditure**|**513**|**1,392**| |FACILITY FEE – TRANSFER TO PARISH CENTRAL FUND|1,500|5,000| |**TOTAL**|**2,013**|**6,392**| |**NET (EXPENDITURE)**|**(1,500**|**(2,224)**| ||**)**|| |**Balance brought forward at start of year**|**4,985**|**7,209**| |**BALANCE CARRIED FORWARD AT END OF YEAR**|**3,485**|**4,985**| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNT:||| |CURRENT ACCOUNT|3,485|4,464| |DEBTORS||| ||-|521| |**NET ASSETS**|**3,485**|**4,985**| 36 ## **ABBEY FLORAL FUND** Fund restricted to purposes associated with the floral decoration of the Abbey ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** ||**2020**|**2020**|**2019**| |---|---|---|---| |||**£**|**£**| |**INCOME FROM:**|||| |**Donations**|||| |ABBEY FLOWER BOX AND DONATIONS||13|688| |LEGACY||500|-| |**Charitable church activities**|||| |CHARGES FOR WEDDINGS AND OTHER||300|3,080| |EVENTS|||| |**Investments**|||| |BANK INTEREST||1|2| |**Total direct income**|||| ||**814**||**3,770**| |GRANT FROM PARISH CENTRAL FUND|||| ||-||1,000| |**TOTAL**||**814**|**4,770**| |**EXPENDITURE ON:**|||| |**Charitable church activities**|||| |FLOWERS AND SUNDRY PAYMENTS||1,0|4,300| ||76||| |**TOTAL**|**1,076**||**4,300**| |**NET (EXPENDITURE) INCOME**|**(262)**||**470**| |**Balance brought forward at start of year**|**2,341**||**1,871**| |**BALANCE CARRIED FORWARD AT END OF**|**2,079**||**2,341**| |**YEAR**|||| |**BALANCE SHEET AT 31 DECEMBER 2020**|||| |**Current assets**|||| |BANK ACCOUNTS:|||| |CURRENT ACCOUNT||651|764| |RESERVE ACCOUNT|1,050||1,049| |CASH||378|528| |**NET ASSETS**|**2,079**||**2,341**| 37 ## **THE COMPANY OF SHERBORNE ABBEY BELL RINGERS** Fund restricted to the general purposes of the Company of Ringers ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**INCOME FROM:**||| |**Donations**||| |RINGERS BOX AND PEAL FEES|55|375| |**Charitable church activities**||| |WEDDINGS AND FUNERALS|600|2,800| |BOOK SALES||| ||23|754| |**Investments**||| |BANK ACCOUNTS|2|4| |**TOTAL**|**680**|**3,933**| |**EXPENDITURE ON:**||| |**Charitable church activities**||| |PAYMENTS TO RINGERS|450|2,250| |SUBSCRIPTIONS AND DONATIONS|7|678| ||12|| |RINGERS PARTY AND EVENTS|335|527| |MAINTENANCE AND REPAIRS|394|447| |BOOK EXPENSES||| ||4|557| |**TOTAL**|**1,895**|**4,459**| |**NET (EXPENDITURE)**|**(1,215**|**(526)**| ||**)**|| |**Balance brought forward at start of year**|**2,906**|**3,432**| |**BALANCE CARRIED FORWARD AT END OF YEAR**|**1,691**|**2,906**| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNTS:||| |RESERVE ACCOUNT|1,327|1,924| |CURRENT ACCOUNT|341|852| |CASH|23|| |||130| 38 **NET ASSETS** **1,691** **2,906** ## **GREAT WEST WINDOW APPEAL FUND** Expendable endowment fund restricted to purposes associated with the replacement and repair of the Abbey’s stained glass windows ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**DECEMBER 2020**|||| |---|---|---|---| |||**2020**|**2019**| |||**£**|**£**| |**EXPENDITURE ON:**|||| |MAINTENANCE OF ABBEY WINDOWS AND RELATED|||| |WORK|-||22,862| |**TOTAL**|||| ||**-**||**22,862**| |**Balance brought forward at start of year**||**-**|**22,862**| |**BALANCE CARRIED FORWARD AT END OF YEAR**||**-**|**-**| |**BALANCE SHEET AT 31 DECEMBER 2020**|||| |**Current assets**|||| |DUE FROM PCC CENTRAL FUND||-|-| |**NET ASSETS**||**-**|**-**| 39 ## **ABBEY SOCIAL FUND** Unrestricted fund under the management of the Social Committee. It is part of the Parish Central Fund and is shown here for information only. ## **STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2020** |**DECEMBER 2020**||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |**INCOME FROM:**||| |**Donations**||| |PACK MONDAY (cancelled in 2020)|-|1,259| |OTHER EVENTS|504|1,337| |**TOTAL**|**504**|**2,596**| |**EXPENDITURE ON:**||| |**Charitable church activities**||| |PARISH FUNCTIONS AND OTHER EVENTS|363|894| |PACK MONDAY EXPENSES|-|286| |DONATIONS - FIAC|500|1,000| |**TOTAL**|**863**|**2,180**| |**NET INCOME**||**416**| ||**(359**|| ||**)**|| |**Balance brought forward at start of year**|**2,04**|**1,631**| ||**7**|| |**BALANCE CARRIED FORWARD AT END OF YEAR**|**1,68**|**2,047**| ||**8**|| |**BALANCE SHEET AT 31 DECEMBER 2020**||| |**Current assets**||| |BANK ACCOUNT|1,688|2,047| |**NET ASSETS**|**1,6**|**2,047**| ||**88**|| 40