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2021-12-31-accounts

PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST JOHN THE BAPTIST, BURFORD

Charity number: 1130342

Annual report and accounts – Year ended 31 December 2021

INDEX

1-5 Report of the Trustees and General Information
6-9. Independent Auditor’s Report to the Trustees
10 Statement of Financial Activities
11 Balance Sheet
12-18 Notes to the Accounts

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

REPORT OF THE TRUSTEES for the year ended 31 December 2021

The trustees present their annual report and financial statements of the charity for the year ended 31 December 2021. 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)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity’s full name is The Parochial Church Council of the Ecclesiastical Parish of St John the Baptist, Burford, but it is generally known as the Parochial Church Council of St. John the Baptist, Burford, which is the name used in these financial statements.

Aim and purposes

The Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent 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 the Parish Church of St. John the Baptist, Burford and of the Warwick Hall.

Objectives and Activities

The activities undertaken by the church in the year include offering a number of church services, children’s and youth group ministry, home groups, prayer partnerships, outreach ministries, courses on marriage, parenting and discipleship, together with events which have brought the local church and community together.

The church gives around 10% of unrestricted income away, mainly through grants overseen by the Mission Committee. We seek to develop deep relationships with selected mission partners to support them with prayer, time and money. Our mission partners are engaged in a diverse range of ministries at local, national and international level.

Achievements and Performance

All Church activities were impacted by the coronavirus crisis during 2021. Church services and activities continued to take place where allowed under national guidance with social distancing and all sanitisation measures. Some Church services also remain online, either recorded or, where allowed, as a live stream. Some Church activities also took place online rather than face to face.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

REPORT OF THE TRUSTEES for the year ended 31 December 2021 (continued)

Investment Policy and Performance

The PCC has decided that the money making up the Fabric and Equipment Fund should be invested in long term, low risk, income-producing assets with a view to maintaining capital and using the income for the repair and maintenance of its buildings and equipment.

To this end investments have been made in:

The total annual income available from these investments for the repair and maintenance of the buildings and equipment in 2021 was £28,602 (2020-£28,117).

In making these investments the charity has taken into account the need to provide housing in Burford at a reasonable rent, and has also considered the ethical basis on which money is invested by the CBF Church of England Investment Fund.

Financial Review

General Fund This fund is for the day to day running and mission of the church and includes income and expenditure for the Warwick Hall. At 31 December 2021 £113k was held in the General Fund, £10k higher than at the start of the year. Turnover in the General Fund was around £376k for the year with members of the congregation and visitors giving £243k (including gift aid recovery). Of the expenditure, £33k was given for mission and charitable work.

Fabric Fund This fund, originating from various legacies, is designated for the repair and maintenance of the buildings and equipment of the church and hall. At 31 December 2021 £1,011k was held in the Fabric Fund, invested in various ways. This is £104k higher than at the start of the year where investment income and growth exceeded repairs, maintenance and improvements of £128k.

Reserves Policy

It is PCC policy to try to maintain a balance in the General Fund which equates to at least three months unrestricted payments. This is equivalent to between £80k and £100k. It is held to smooth out fluctuations in cash flow and to meet emergencies.

The Fabric Fund is invested to provide an income to meet regular costs of repair and maintenance. Where this income is not adequate to cover all regular repair and maintenance, or where there are one off fabric costs, this is met by disinvesting from the Fabric Fund.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

REPORT OF THE TRUSTEES for the year ended 31 December 2021 (continued)

Volunteers

The PCC appreciates that the work of St John's is hugely dependent upon the contribution of volunteers and wishes to record its thanks to all who offer their time and talents.

Volunteers working with children and vulnerable adults are subject to DBS (Disclosure & Barring Service) checks in line with St. John's Safeguarding Policy and approved by the PCC. Following consideration of the annual Safeguarding Report, our Safeguarding Policy was reapproved by the PCC on 15th March 2021.

Fundraising

The PCC is committed to high standards with regard to fundraising activity and has complied with all laws relating to charities and fundraising. We are clear, honest and open about our activities and fund raising requirements. We are respectful towards all supporters, and with the work carried out to meet GDPR regulations have recognised our strong procedures with regards to fundraising information security. The PCC received no complaints about its fundraising activities during 2021.

Funds are raised primarily through donations from church members and visitors to the church. A smaller amount is raised from letting rooms in the Warwick Hall.

The PCC does not employ any professional fundraisers or use commercial participators nor do we cold call members of the public. The PCC has not signed up to any voluntary fundraising scheme or standards.

Structure, Governance and Management

The charity is governed by the PCC, which consists of around twenty members plus clergy licensed to the church, who serve on the PCC ex-officio. All members of the PCC are trustees of the charity. The PCC meets at least six times a year. In addition a Standing Committee meets to consider matters arising between PCC meetings. Other specialist subcommittees support the work of the PCC, including the Finance Committee, the Fabric Committee and the Mission Committee.

PCC members are elected by vote at the Annual Parochial Church Meeting (APCM) by members of the electoral roll who are present at the meeting and in accordance with Church Representation Rules. PCC members normally serve for a period of three years.

The charity is affiliated to the Church of England, and as a result has representatives sitting on the local deanery and, potentially, diocese committees.

Public benefit

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

REPORT OF THE TRUSTEES for the year ended 31 December 2021 (continued)

Reference and Administrative Information

Trustees

The following trustees have served during the year for the dates shown:

Rev T Putt Mrs L Petra Mr T Douglas Mrs R Reavley Mr T Hames Mr I Johnson (to 7/6/21) Mrs P Kettle Mr P White Mr A Lord Mr R Lind Ms S McCrossan Mr C Fieth Mr R Owen (to 15/3/21) Mrs J Petterson Mr P Petterson Mr A Jackson Rev C Reavley Mrs J Branston Mr A Salsbury Rev O Strange (to 21/7/21) Mr R Tarbox Mr M Eyles Mrs Philippa Hughes (from 23/8/21)

Trustees are either ex-officio, co-opted or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.

Charity Registration Number: 1130342

Principal Office: St John the Baptist Church, Church Green, Burford, OX18 4RY

Auditors: Just Audit & Assurance Ltd, 37 Market Square, Witney, Oxon, OX28 6RE

Bankers: CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent. An additional account is held with TSB.

Investment Managers: CCLA Investment Management Limited, Senator House, 85 Queen Victoria Street, London, EC4V 4ET. CCLA Investment Management Limited is authorised and regulated by the Financial Conduct Authority.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

REPORT OF THE TRUSTEES for the year ended 31 December 2021 (continued)

Responsibilities of the Trustees

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the applicable Charities (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on 21 March 2022 and signed on their behalf by:

Rev Tom Putt

………………………………….. (PCC Chairman)

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

Opinion

We have audited the financial statements of The Parochial Church Council of St John the Baptist, Burford (the 'charity') for the year ended 31st December 2021, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, 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 United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 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

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

7 .

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual 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.

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 Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 5), 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.

8 .

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

Auditor Responsibilities for the audit of the financial statements

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment focused on key laws and regulations the charity has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Charities Act 2011, United Kingdom Generally Accepted Accounting Practice and relevant tax legislation.

We are not responsible for preventing irregularities. Our approach to detect irregularities included, but was not limited to, the following:

• obtaining an understanding of the charity's policies and procedures and how the charity has complied with these, through discussions and sample testing of controls;

• obtaining an understanding of the legal and regulatory framework applicable to the charity and how the charity is complying with that framework;

• an understanding of the charity’s risk assessment process, including the risk of fraud;

• performing audit work over the risk of management override of controls including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing estimates for bias.

Whilst considering how our audit work addressed the detection of irregularities, we also consider the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

9 .

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' 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 its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

......................................

J M Russell FCA (Senior Statutory Auditor) For and on behalf of Just Audit & Assurance Ltd, Statutory Auditor

37 Market Square Witney Oxfordshire OX28 6RE

Date……….…

Just Audit & Assurance Ltd is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

Statement of Financial Activities

for the year ended 31 December 2021

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Total incoming resources
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income before gains on
investment assets
Net gains on investment
assets
14
Net movement in funds
Transfer between funds
Reconciliation of funds
Total Funds brought forward
Total funds carried forward		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
320,433
-
2,692
323,125
294,947
21,047
-
12,373
33,420
31,117
34,301
-
-
34,301
22,843
5
28,602
-
28,607
28,135
375,786
28,602
15,065
419,453
377,042
-
1,545
-
1,545
688
340,774
127,822
15,403
483,999
581,373
340,774
129,367
15,403
485,544
582,061
35,011
(100,765)
(338)
(66,091)
(205,019)
-
180,227
-
180,227
48,772
35,011
79,462
(338)
114,136
(156,247)
(25,000)
25,000
-
-
-
103,338
5,052,828
4,590
5,160,756
5,317,003
£113,349
£5,157,290
£4,252
£5,274,892
£5,160,756

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

Balance Sheet

as at 31 December 2021

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
16
Total Current Assets
Liabilities
Creditors falling due within one year
17
Net Current Assets
Net Assets
The funds of the Charity:
Restricted income funds
18
Designated income funds
18
Unrestricted income funds
18
Total charity funds		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
4,119,603
-
4,119,603
4,119,603
54,634
1,040,955
-
1,095,589
1,015,362
54,634
5,160,558
-
5,215,192
5,134,965
2,687
-
-
2,687
2,830
63,658
4,252
67,910
28,854
66,345
-
4,252
70,597
31,684
7,630
3,267
-
10,897
5,893
58,716
(3,267)
4,252
59,701
25,791
113,350
£
5,157,291
£
£4,252
5,274,893
£
5,160,756
£
-
-
4,252
4,252
4,590
-
5,157,290
-
5,157,290
5,052,828
113,350
-
-
113,350
103,338
£113,350
£5,157,290
£4,252
£5,274,892
£5,160,756

The financial statements were approved by the Parochial Church Council on 21 March 2022 and signed on its behalf by:

___ ______ T Putt T C Douglas (PCC Chairman) (PCC Treasurer)

The notes on pages 15 to 18 form part of these financial statements.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

NOTES TO THE ACCOUNTS

for the year ended 31 December 2021

1. Accounting Policies

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)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

The PCC meets the definition of a public benefit entity under FRS102. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income Recognition

All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that a gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being measurable with a degree of reasonable accuracy and the title to the asset has been transferred to the charity.

Grants and donations are only included when the general income recognition criteria are met.

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

NOTES TO THE ACCOUNTS

for the year ended 31 December 2021 (Continued)

Income recognition (continued)

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with a donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably.

All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources. All expenditure is accounted for on an accruals basis.

All resources expended are inclusive of irrecoverable VAT.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity’s work or for specific projects being undertaken by the Charity.

Further details of each fund are disclosed in Note 18.

Governance and Support Costs

Support costs have been allocated between governance costs and other support. Governance costs comprise the cost of audit. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities such as salaries of support staff and office costs . These costs, set out in note 7, have been allocated as expenditure on charitable activities.

Volunteers

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

NOTES TO THE ACCOUNTS

for the year ended 31 December 2021 (Continued)

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

Fixed 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 not capitalised as no single item is considered material enough to do so.

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 and depreciated over a period of 4 years. No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years, so that any depreciation charges would be immaterial.

Debtors and Creditors

Trade and other debtors are recognised at the settlement amounts due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Short term deposits

This is cash held in bank deposit accounts.

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

NOTES TO THE ACCOUNTS

for the year ended 31 December 2021 (Continued)

2. Income from donations and legacies
Tax efficient planned giving
Other planned giving
Collections at services
Special collections
Other donations, including wall safe
Gift aid recovered
Legacies received
Grants		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
158,867
-
-
158,867
163,517
28,215
-
-
28,215
28,298
942
-
-
942
829
-
-
2,507
2,507
6,213
12,681
-
-
12,681
8,369
41,821
-
185
42,006
41,549
2,000
-
-
2,000
1,000
75,907
-
-
75,907
45,172
£320,433
£-
£2,692
£323,125
£294,947

Included in Grants are receipts of £26,007 for Business Covid support and £9,899 from the Covid Job Retention Scheme

3. Income from charitable activities
Fees (weddings, funerals and baptisms)
Church and outreach events
Church bookstall and leaflets
Benefice contributions
Total income from charitable activities
4. Income earned from other trading activities
Church hire and tours
Hire of Warwick Hall
Total income from other trading activities
5. Investment income
Dividends and rent
Interest on cash deposits
6. Costs of Raising Funds
Costs of managing investment property		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
5,754
-
12,373
18,127
10,583
3,231
-
-
3,231
6,409
187
-
-
187
146
11,875
-
-
11,875
13,979
£21,047
£-
£12,373
£33,420
£31,117
Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
50
-
-
50
40
34,251
-
-
34,251
22,803
£34,301
£-
£-
£34,301
£22,843
Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
-
28,602
-
28,602
28,117
5
-
-
5
18
£5
£28,602
£-
£28,607
£28,135
Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
£
-
1,545
-
1,545
688

Costs of managing investment property

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

NOTES TO THE ACCOUNTS

for the year ended 31 December 2021 (Continued)

7. Analysis of expenditure on charitable activities
Mission giving and donations
Diocesan parish share contribution
Youth & children's work - payroll costs
Youth & children's work - other costs
Clergy and visiting clergy expenses
Training
Baptism, wedding and funeral costs
Church and outreach events
Upkeep of services
Church bookstall and leaflets
Repairs and maintenance (see note 8)
Staff insurance
Utilities
Warwick Hall running costs (see note 8)
Cost of audit
Support costs (see note 8)
Total
8. Further breakdown
Warwick Hall Costs
Support Staff - payroll costs
Utilities and council tax
Sundry costs
Ground source heating rebate
Total
Support Costs
Support Staff - payroll costs
Office costs
Photocopy costs
Computer costs
Telephone and internet
Bank charges
Total
Repairs and maintenance
Church - service contracts and other regular maintenance
Church - other costs
Warwick Hall - service costs and other regular maintenance
Warwick Hall - other costs
Total		 Unrestricted
Funds
£
33,360
66,632
52,452
2,180
3,619
5,594
-
3,062
4,539
234
-
569
18,098
68,081
3,180
79,174		 Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
2021
2020
£
£
£
£
-
3,780
37,140
39,794
-
-
66,632
67,327
-
-
52,452
36,823
-
-
2,180
1,511
-
-
3,619
3,353
-
-
5,594
4,367
-
11,623
11,623
9,397
-
-
3,062
4,972
-
-
4,539
2,643
-
-
234
502
127,822
-
127,822
244,714
-
-
569
708
-
-
18,098
10,718
-
-
68,081
65,550
-
-
3,180
3,050
-
-
79,174
85,944
£340,774 £127,822
£15,403
£483,999
£581,373
£
49,455
18,607
19
£
65,961
4,459
2,272
4,658
1,402
423
£
12,916
56,994
25,312
32,600		 £68,081
£79,174
£127,822

Included in "Church - other costs" is £59,422 expended on the church AV/PA system upgrade and £27,853 refund from HMRC re internal church lighting costs incurred in 2020

9. Analysis of staff costs

Salaries and wages
Social security costs
Pension costs		 2021
£
165,867
9,078
6,021
£180,966		 2020
£
149,760
7,685
5,058
£162,503

No employees had emoluments in excess of £60,000 (2020: Nil).

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

NOTES TO THE ACCOUNTS

for the year ended 31 December 2021 (Continued)

10. Staff numbers

2021 2020
The average number of employees during the year was as follows: 8 8

The number of full time contracted staff was 4 (2020:4) . The remaining staff are employed on a part time basis.

11. Related party transactions and trustees' expenses and remuneration

The trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind. Expenses paid to the trustees in the year totalled £2,887 (2020: £4,862). These expenses were made up of 1 trustee reimbursed motor, telephone, administration and hospitality expenses. All expenses were incurred for charitable activities.

Trustees made unconditional donations totalling £56,852 during the year (2020: £76,806)

12. Pensions

Employees of the charity are entitled to join a defined contribution “money purchase” scheme. The charity’s contribution is restricted to the contributions disclosed in note 9. There were no outstanding employer's or employee's contributions at the year end. The money purchase plan is managed by NEST and the plan invests the contributions made in an investment fund to build up over the term of the plan a pension fund which can be accessed by the employee from the age of 55. The total expense ratio of the plan is 0.3% and this is deducted from the investment fund annually. The charity has no liability beyond making its contributions and paying across the deductions for the employees' contributions.

13. Tangible fixed assets

£ Warwick Hall 4,119,603

The value reported is historic cost. No market valuation has been sought and, the purpose of the funding behind the build satisifed, the asset is reflected within designated funds.

14. Fixed asset investments

Investment property (5 Sylvester Close)
Share of property (20 Oxford Road)
CBF Church of England Investment Fund		 At
Additions
Disposals
Change in
At
1.1.21
Market Value
31.12.21
£
£
£
£
£
316,000
-
-
98,000
414,000
26,510
-
-
-
26,510
672,852
-
(100,000)
82,227
655,079
£1,015,362
£-
£(100,000)
£180,227
£1,095,589

Sylvester Close £414,000 is an approximate market value of 5 Sylvester Close at the start of 2022.

Oxford Road

The share of property asset represents the PCC's loan to the Burford Benefice Bartholomew Trust ("BBBT") to enable the purchase of 20 Oxford Road, Burford in October 2010; the property originally cost £245,000. If the property were sold the PCC would receive a share of 27/245 of the net proceeds. The net proceeds being calculated as the sales price less refurbishment and other costs incurred by BBBT. This asset is included at cost within designated as the PCC has no direct control over the property or its sale.

CBF Church of England Investment Fund

Inlcuded in the unit price of the CBF Church of England Investment Fund is an annual management fee of 0.55%. This is reflected as part of the change in annual market value

PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST, BURFORD

NOTES TO THE ACCOUNTS

for the year ended 31 December 2021 (Continued)

15. Debtors

Gift aid reclaims
Benefice costs
Grant
16. Current Asset Investments
Cash at bank and in hand (unrestricted)
Cash at bank and in hand (restricted)
17. Creditors: amounts falling due within one year
Audit
Other creditors		 2021
£
2,687
-
-
£2,687		 2020
£
2,830
£2,830
2021
£
63,658
4,252
£67,910		 2020
£
23,725
5,129
£28,854
2021
£
3,180
7,717
£10,897		 2020
£
3,054
2,839
£5,893

18. Analysis of charitable funds

Unrestricted fund
Designated funds
- Fabric fund
- Warwick Hall
- BBBT
Designated funds, total
Restricted fund
Total		 Balance
Income
Expenditure
Gains /
Transfer
Balance
1.1.21
(Losses)
31.12.21
£
£
£
£
£
£
103,338
375,786
(340,774)
-
(25,000)
113,350
906,715
28,602
(129,367)
180,227
25,000
1,011,177
4,119,603
4,119,603
26,510
26,510
5,052,828
28,602
(129,367)
180,227
25,000
5,157,290
4,590
15,065
(15,403)
-
4,252
£5,160,756
£419,453
£(485,544)
£180,227
£-
£5,274,892

Name of fund Description, nature and purposes of the fund Unrestricted fund The "general fund", the 'free reserves' after allowing for all designated funds. The general fund is available to be spent for any of the charity's purposes.

Designated fund

The "Fabric fund". Funds set aside by the PCC to enable it to meet its maintenance responsibilities for the Parish Church of St John the Baptist, Burford and other church buildings.

The "Warwick Hall" fund reflects the investment made in the construction of Warwick Hall. Whilst the building is central to the operations, there is no intention for sale.

The 'BBBT' fund recognises the interest that the PCC has in the purchase of 20 Oxford Road, Burford, over which it has no control as regards sale.

Restricted fund

Collections and other income given for specific purposes and which are required to be paid over to external beneficiaries.