HOLY TRINITY AND ALL SAINTS’ CHURCHES, HAWLEY
ANNUAL REPORT
AND
FINANCIAL STATEMENTS
OF
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL Registered Charity No. 1130589 for the year ended 31%t December 2020
Incumbent
The Rev’d Canon William Perry, SSC
Bank
Lloyds Bank PLC 18, Prince of Wales Walk Camberley Surrey GU15 3SJ
Accountants
Azets Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ
The Parish of Hawley Annual Report for 2020 for 2020 2020 Overview Fr William Perry is the incumbent for the Parishes of Hawley and Minley. The Parish of Hawley in the Diocese of Guildford is situated in the extreme During periods of leave he was leave he was he was was ably assisted assisted by our our honorary assistant assistant priest northeast of Hampshire. The Parish Church of Holy Trinity, Hawley (1857) Fr Glyn Williams and Fr Barry Burbidge. Mr James Rapley was the Parish and the daughter church of All Saints’, South Hawley (1976) serve an Safeguarding Officer and DBS Validator for the Validator for the for the the year. estimated population of 11,800 souls. In 2015, the Parochial Church Council passed a Resolution under the House of Bishops’ Declaration on the During 2020 Church activities were seriously curtailed due to the Covid-19 Ministry of Bishops and Priests. Extended episcopal care is provided by the pandemic. The churches were closed for services from 29 March until 5 July. Bishop of Richborough by arrangement with the diocesan bishop. The parish Holy Trinity was reopened on 22 June for private worship from 10-12am is registered with Forward in Faith and affiliated to The Society. The Monday to Saturday. The Churches reopened with social distancing and Incumbent holds the living ofStAndrew, Minley in plurality. Covid-19 precautions in place which restricted the number of people The Parochial Church Council (PCC) allowed in the buildings. The weekly masses were recorded by Emily Brown Under the terms of the Charities Act 2006, the PCC is registered with the and posted on you-tube for those unable to attend church in person. We Charity Commission. Our registered charity number is 1130589. wish to express our thanks to Emily for her invaluable support during 2020. Correspondence for the PCC may be addressed to Hawley Vicarage, Fernhill Road, Blackwater, Camberley, GU17 9BN. Uoyds Bank plc, 18 Prince of Due to the pandemic, hiring of the church halls was greatly reduced with Wales Walk, Camberley, Surrey GU15 3S) are bankers to the PCC. The PCC most regular hirers being unable to continue their activities. Pre-Schools uses the services of Messrs Roffe Swayne of Ashcombe Court, Woolsack were closed from 29 March until 1 June. The Hawley Fayre and Holly Fair Way, Godalming, Surrey GU7 1LQ as Independent Examiners, however we were cancelled which also reduced our income. We thank all members for now understand this business has recently become part of the AZETS Group, their committed giving during the year. operating from the same premises. Nye Saunders Ltd. has been appointed inspecting architects to the PCC under the Inspection of Churches Measure Traidcraft sales totalled £576, with the profit of £102 reinvested in stock. 1955. Among its other responsibilities, the PCC “is to co-operate with the Our thanks to Diane Brown for running the stall and achieving such a good minister in promoting in the parish the whole mission of the Church, result. pastoral, evangelistic, social and ecumenical”. Membersof the Parochial Church Council during 2020 Again, due to the pandemic, very little work has been carried out on the
Annual Report for 2020 for 2020 2020 Fr William Perry is the incumbent for the Parishes of Hawley and Minley. During periods of leave he was leave he was he was was ably assisted assisted by our our honorary assistant assistant priest Fr Glyn Williams and Fr Barry Burbidge. Mr James Rapley was the Parish Safeguarding Officer and DBS Validator for the Validator for the for the the year.
Again, due to the pandemic, very little work has been carried out on the Church buildings. We now have new noticeboards at each church, two of which have been positioned to highlight the church to the passing public. The cost of these two additional noticeboards was £2,658. The parish is most grateful to all who have helped to maintain Holy Trinity churchyard and burial ground in good order, especially Ingrid Low and her colleagues from The Little Garden Company.
Ex-Officio Members
Incumbent: The Revd. Canon William Perry SSC (Chairman) Churchwardens: Mrs Rita Davies, Mr Roy Joseph Deanery Synod Representatives:Mr Keith Blanchard, Mrs Rita Davies Elected Members: Mr Derek Bangs {from 25 October}, Mrs Susan Brown, Mr John Chapman {Hon PCC Treasurer}, Mr Peter Crouch, Mrs Jackie Davies, Mr Michael Gunston (Vice-Chairman), Mr Stuart Murton (from 25 October}, Mr James Rapley, Miss Lorna Wilkinson, Mr Christopher Young (to 25 October}, Mrs Joan Young (to 25 October). October).
Mr James Rapley, Miss Lorna Wilkinson, Mr Christopher Young (to 25 The quinquennial reports have highlighteda considerable number of major October}, Mrs Joan Young (to 25 October). October). and minor works for our attention. Some of the major equipment and The PCC formed a Standing Committee, as required by law, to transact the fittings are at the end of their useful life and require replacement. The business of the PCC between meetings, a Halls Committee to oversee the Churchwardens report gives details of some of the works as we try to operation and maintenance of the Church Halls and a Stewardship establish the ultimate costs of replacing complex installations and Committee to encourage Christian Stewardship of time, talents and money determine priorities. Whilst at both churches and halls we have built up : within the congregation. Due to Covid restrictions the PCC met once. reserves to counter some of the heavy costs in dealing with certain items in Business was carried out by telephone or email. the reports, we do, however, anticipate that the costs of implementing the PCC Policies architect’s recommendations could well exceed those reserves. We Investment: Apart from maintaining a small working balance, monies not financially need to proceed with the outstanding building works with all immediately due for payment are placed on short-term deposit with the speed to preserve the purchasing power of our reserves. Central Board of Finance of the Church of England on their Deposit Fund (AAA Rated). In the absence of an assistant curate, All Saints’ Parsonage Our Parish Share for 2020 increased for 2020 increased 2020 increased increased by £7,588 to £82,140 (£74,552 £7,588 to £82,140 (£74,552 to £82,140 (£74,552 £82,140 (£74,552 (£74,552 in 2019} continues to be let on a periodic lease. an increase of 10.2% over 2019. We understand that this hefty increase is
Our Parish Share for 2020 increased for 2020 increased 2020 increased increased by £7,588 to £82,140 (£74,552 £7,588 to £82,140 (£74,552 to £82,140 (£74,552 £82,140 (£74,552 (£74,552 in 2019} an increase of 10.2% over 2019. We understand that this hefty increase is due to the diocese adding Minley’s cost to Hawley’s. We have raised this matter with the diocese and the subject continues to be ongoing. The Parish Share for 2021 has been held at £82,140.
Reserves: We hold all our financial reserves to maintain and promote the whole mission of the Church in Hawley. These include the legacy monies of £107,369 received in 2018/2019 and £66,143 received in 2020. Although our financial position benefited from the receipt of these legacy monies in 2020 we needed to draw on our reserves to pay the day to day Parish running expenses. During the year we withdrew £3,100 from the Halls Reserve to fund depreciation costs relating to All Saints’ Hall roof repair (having placed £17,331 into the Reserve in 2019). The Reserve is maintained to meet future repairs and refurbishment. We placed £5,643 {£12,409 in 2019) into the All Saints’ Parsonage account to fund operational costs and future repairs and maintenance. We recognise that the major repairs and replacement works identified in the quinquennial reports will vastly reduce, even exhaust, our reserves. We are, however, working to maintain a minimum reserve of £15,000 to fund emergencies. The balance of free reserves at the year-end was £122,305 (£82,474 in 2019). Our reserves will be kept under regular review. Risk: The PCC continued its risk audit with a view to establishing a more secure environment within Holy Trinity Church, reducing the vulnerability of the more valuable moveable items to theft and damage when the church is open during daylight hours. Theft of and damage to internal and external metal is of ongoing concern. Fire risk assessments continued to be reviewed in 2020 for the two churches and the two halls. Church Attendance Due to the Covid restrictions the congregations at Holy Trinity and at All Saints’ have been greatly reduced over the year. The average adult Sunday attendance was 69 (106). The 2020 Church Electoral Roll listed 138 names (138). There were 2 baptisms (23), 5 confirmations (0), 1 wedding (4), 0 wedding blessing (1), and 4 funerals in church (10). A further 9 funerals (1) were held at the crematoria or local cemeteries and 3 committals of cremated remains (4). (2019 figures bracketed in italics)
Apart from £50,149 (£44,688 in 2019) held for restricted purposes, the net surplus funds on the unrestricted balance increased to £322,370 (£279,624 in 2019). We continued to receive rent on All Saints’ Parsonage but there was a reduction in the level of income through our church halls by some £16,891 due to Covid conditions. In 2020 we had to dip into reserves as the running costs exceeded regular income and collections by some £30,102. This was partly attributed to the pandemic which saw income fall from both church activities and parishioners.
CATS (our Friday evening version of Sunday school), Mothers’ Union, Hawley Anglican Men’s Society (HAMS), Bellringers, and the parish’s Walsingham Cell have been unable to meet regularly due to the pandemic. Please see the minutes of the proceedings of the Annual Parochial Church Meeting and the parish website www.parishofhawley.org.uk for more information.
The Reverend Canon William Perry SSC (Incumbent)
Page 2
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS
The Parochial Church Council (PCC) is a Body Corporate for the advancement of religion created by statute (namely the PCC (Powers) Measure 1956).
STATEMENT OF MEMBERS’ RESPONSIBILITIES
The Members are responsible for preparing the Members’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Parochial Church Council and of the incoming resources and application of resources of the Parochial Church Council for that period. In preparing these financial statements, the members are required to:
-
e Select suitable accounting policies and then apply them consistently;
-
e Observe the methods and principles in the Charities SORP;
-
e Make judgements and estimates that are reasonable and prudent;
-
e State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
e Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Parochial Church Council and enable them to ensure that the financial statements comply with the Charities Act 2011 , the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Parochial Church Council and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
| report on the accounts of the Parochial Church Council for the year ended 31 December 2020 which are set out on pages 5 to 18.
Independent Examiner’s Report to the members of Hawley Green Parochial Church Council
for the Year Ended 31 December 2020
Respective responsibilities of members and examiner
The members of the Parochial Church Council are responsible for the preparation of the accounts. The charity’s members consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
© examine the accounts under section 145 of the Charities Act; e follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
-
e 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 PCC and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Other Matters
Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) 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 (FRS102) issued on 16 July 2014 in preference to the Accounting and Reporting Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations that has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 Jan 2015.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that, in any material respect, the requirements:
-
e to keep accounting records in accordance with section 130 of the Charities Act; and e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts be reached.
J Vickery BA FCA Azets Chartered Accountants Ashcombe Court Woolsack Way, Godalming SURREY GU7 1LQ Dated August 2021
Page 4
| HAWLEYGREEN PAROCHIAL CHURCH COUNCIL -STATEMENTOF | HAWLEYGREEN PAROCHIAL CHURCH COUNCIL -STATEMENTOF | HAWLEYGREEN PAROCHIAL CHURCH COUNCIL -STATEMENTOF | HAWLEYGREEN PAROCHIAL CHURCH COUNCIL -STATEMENTOF | HAWLEYGREEN PAROCHIAL CHURCH COUNCIL -STATEMENTOF | HAWLEYGREEN PAROCHIAL CHURCH COUNCIL -STATEMENTOF | FINANCIALACTIVITIES | FINANCIALACTIVITIES | FINANCIALACTIVITIES |
|---|---|---|---|---|---|---|---|---|
| FORTHE YEAR ENDED 31 | DECEMBER 2020 | |||||||
| UNRESTRICTED FUNDS RESTRICTED |
ENDOWMENT TOTAL | FUNDS | ||||||
| INCOMEANDENDOWMENTS FROM: | General | Designated | FUNDS | FUNDS | 2020 | 2019 | ||
| Purposes | ||||||||
| £ | £ | £ | £ | £ | £ | |||
| Donations and legacies | 2A1 | 133,193 | 6 | 3,156 | - | 136,355 | 87,364 | |
| Charitable activities | 2A2 | 868 | 176 | - | - | 1,044 | 3,098 | |
| Othertrading activities | 2A3 | 18,873 | - | - | - | 18,873 | 38,775 | |
| Investments | 2A4 | 289 | 17,630 | 3,011 | - | 20,930 | 22,131 | |
| Other | 1,142 | - | - | - | 1,142 | - | ||
| TOTAL | 154,365 | 17,812 | 6,167 | _- | 178,344 | 151,368 | ||
| EXPENDITURE ON: | ||||||||
| Raising funds | 3 B1 | 572 | - | - | - | 572 | 935 | |
| Charitable activities | 3 B2 | 117,752 | 14,898 | 706 | - | 133,356 | 132,838 | |
| Other | - | - | - | - | - | - | ||
| TOTAL | 118,324 | 14,898 | 706 | __- | 133928 | 133,773 | ||
| Net Income/(expenditure) | before | |||||||
| gains and transfers | 36,041 | 2,914 | 5,461 | - | 44,416 | 17,595 | ||
| Gains(losses) on investmentassets | ||||||||
| 5(b) D2 | - | - | - | 6,491 | 6,491 | 14,825 | ||
| Net income/(expenditure) | before | |||||||
| Transfers | 36,041 | 2,914 | 5,461 | 6,491 | 50,907 | 32,420 | ||
| Transfers between funds | 10(b) | - | - | = | - | - | - | |
| NETMOVEMENT IN FUNDS | 36,041 | 2.914 | 5,461 | 6,491 | 50,907 | 32,420 | ||
| BALANCES BROUGHTFORWARDAT | 225,700 | 197,150 | 44,688 | 94,381 | 561,919 | 529,499 | ||
| 1 JANUARY 2020(2019) | ||||||||
| BALANCES CARRIED FORWARDAT | 261,741 | 200,064 | 50,149 | 100,872 | 612,826 | 561,919 | ||
| 31DECEMBER2020(2019) | Sms | a | soo | SSS | ====== | +t |
Page 5
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL - STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| COMPARATIVE | COMPARATIVE | ANALYSIS | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| INCOMEAND ENDOWMENTS FROM: | General 2020 |
Purposes 2019 |
Designated 2020 2019 |
Restricted 2020 2019 |
Endowment 2020 2019 |
Totals 2020 |
2019 | ||||||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | £ | ||||
| Donations and legacies | 2A1 | 133,193 | 78,886 | 6 | 319 | 3,156 | 8,159 | - | - | 136,355 | 87,364 | ||
| Charitable Activities | 2A2 | A2 | 868 | 2,721 | 176 | 377 | - | - | - | 1,044 | 3,098 | ||
| OtherTrading Activities Investments |
2A3 2A4 |
18,873 289 |
21,730 882 |
- 17,630 |
16,873 18,104 |
- 3,011 |
172 3,145 |
- - |
- - |
18,873 20,930 |
38,775 22,131 |
||
| Other | 1,142 | - | - | - | - | - | - | - | 1,142 | - | |||
| TOTAL | 154,365 | 104,219 | 17,812 | 35,673 | 6,167 | 11,476 | —_ | _ | 178,344 | 151,368 | |||
| EXPENDITURE ON: | |||||||||||||
| OtherTrading Activities | 3 | B1 | 572 | 897 | - | - | - | 38 | - | - | 572 | 935 | |
| Charitable Activities | 3 | B2 | 117,752 | 122,302 | 14,898 | 4,912 | 706 | 5,624 | - | - | 133,356 | 132,838 | |
| Other | - | - | - | - | - | - | - | - | - | - | |||
| TOTAL | 118,324 | 123,199 | 14,898 | 4,912 | 706 | 5662 | _- | __- | 133,928 | 133,773 | |||
| Net Income/(expenditure) before gains and transfers |
36,041 | (18,980) | 2,914 | 30,761 | 5,461 | 5,814 | - | - | 44,416 | 17,595 | |||
| Gains(losses) on investment | 5(b)D2 | - | - | - | - | - | - | 6,491 | 14,825 | 6,491 | 14,825 | ||
| assets | |||||||||||||
| Net income/(expenditure)before transfer | 36,041 | (18,980) | 2,914 | 30,761 | 5,461 | 5,814 | 6,491 | 14,825 | 50,907 | 32,420 | |||
| Transfers between funds | 10(b) | - | - | : | - | - | - | - | - | - | : | ||
| NETMOVEMENT IN FUNDS | 36,041 | (18,980) | 2,914 | 30,761 | 5,461 | 5,814 | 6,491 | 14,825 | 50,907 | 32,420 | |||
| BALANCES BROUGHT FORWARD AT | |||||||||||||
| 1 JANUARY 2019 (2018) | 225,700 | 244.680 | 197,150 | 166,389 | 44.688 | 38,874 | 94,381 | 79,556 | 561.919 | 529,499 | |||
| BALANCES CARRIED FORWARD AT | |||||||||||||
| 31DECEMBER2019(2018) | 261,741 | 225,700 | 200,064 | 197,150 | 50,149 | 44,688 | 100,872 | 94,381 | 612,826 | 561,919 |
Page 5A
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL BALANCE SHEET AT 31 DECEMBER 2020
| Note | 2020 | 2019 | |
|---|---|---|---|
| £ | £ | ||
| FIXED ASSETS | |||
| Tangible fixed assets | 5(a) | 139,436 | 143,226 |
| Investmentassets Inventory assets CURRENT ASSETS |
5(b) 5(c) |
100,492 - 239,928 |
94,001 - 237,227 |
| Stock | 899 | 1,042 | |
| Debtorsand prepayments | 7 | 6,716 | 7,890 |
| Shortterm deposits | 365,684 | 314,876 | |
| Cash at bank and in hand | 12,157 | 9,545 | |
| LIABILITIES | 385,456 | 333,353 | |
| Creditors -amounts falling due within oneyear 8 | 11,724 | 8,561 | |
| NETCURRENTASSETS((LIABILITIES) | 373,732 | 324,792 | |
| Total assets lesscurrent liabilities | 613,660 | 562,019 | |
| Creditors—amounts falling due afterone year9 | 834 | 100 | |
| TOTALNETASSETS | 612,826 | §61,919 | |
| PARISH FUNDS | 6 | ||
| Unrestricted - General |
261,741 | 225,700 | |
| Unrestricted - Designated |
200,064 | 197,150 | |
| Restricted | 50,149 | 44,688 | |
| Endowment | 100,872 | 94,381 | |
| 612,826 | 561,919 |
Approved by the Parochial Church Council on
August 2021 and signed on its behalf by:-
The Rev'd Canon WFP Perry (Incumbent)
Mrs. RA Davies (Churchwarden)
The notes on pages 7 - 18 form part of these accounts
Page 6
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1 ACCOUNTING POLICIES - See Appendix “A”
| 2 INCOMEAND ENDOWMENTFROM | 2 INCOMEAND ENDOWMENTFROM | 2 INCOMEAND ENDOWMENTFROM | UNRESTRICTED FUNDS | UNRESTRICTED FUNDS | RESTRICTED | ENDOWMENT TOTAL | ENDOWMENT TOTAL | FUNDS |
|---|---|---|---|---|---|---|---|---|
| General | Designated | FUNDS | FUNDS | 2020 | 2019 | |||
| Purposes | ||||||||
| £ | £ | £ | £ | £ | £ | |||
| A1 | DONATIONSAND LEGACIES | |||||||
| Planned Giving | ||||||||
| GiftAid | 48,289 | - | 1,416 | ~ | 49,705 | 52,593 | ||
| IncomeTax | recoverable | 11,446 | - | 793 | - | 12,239 | 13,588 | |
| Other planned giving | 3,796 | - | - | - | 3,796 | 3:552 | ||
| Unplanned Giving:- | ||||||||
| GiftAid | 956 | - | 271 | - | 1,227 | 3,508 | ||
| Income Tax recoverable | 372 | 1 | 320 | - | 693 | 1,917 | ||
| Otherunplanned giving | 456 | - | 60 | - | 516 | 776 | ||
| Collections at all services | 491 | 5 | - | - | 496 | 2,805 | ||
| Sundry donations Grants |
10(b) | 744 500 |
- - |
50 25 |
- - |
794 525 |
2,065 2,405 |
|
| Donations, appeals etc. | - | - | 221 | - | 221 | 4,035 | ||
| Legacies | 66,143 133,193 |
_ _6 |
- 3,156 |
- - |
66,143 136,355 |
120 87,364 |
||
| A2 | CHARITABLEACTIVITIES | |||||||
| Fees -statutory | 868 | - | - | - | 868 | 2,521 | ||
| Fees -associated income | A. 868 |
176 176 |
- - |
- - |
176 1,044 |
_577 3,098 |
||
| A3 | OTHER TRADING ACTIVITIES | |||||||
| Church hall lettings | 18,151 | - | - | - | 18,151 | 35,042 | ||
| Traidcraft sales | 576 | - | - | - | 576 | 753 | ||
| Fetes, bazaars and other fund | ||||||||
| raising activities | 146 18,873 |
- - |
- - |
- - |
146 18,873 |
2,980 38,775 |
||
| A4 | INVESTMENTS | |||||||
| Dividends Interest Rent |
- 289 _- 289 |
- 830 16,800 17,630 |
2,820 191 - 3,011 |
- - - - |
2,820 1,310 16,800 20,930 |
2,840 2,491 16,800 22,131 |
||
| A5 | OTHER | |||||||
| Insurance Receipts | 1,142 1,142 |
- - |
_- ait |
- - |
1,142 1,142 |
- - |
||
| TOTAL | 154,365 | 17,812 | 6,167 | - | 178,344 | 151,368 |
Page 7
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
| _3EXPENDITURE ON | UNRESTRICTED | UNRESTRICTED | FUNDS | RESTRICTED | ENDOWMENT | ENDOWMENT | TOTAL | FUNDS |
|---|---|---|---|---|---|---|---|---|
| General | Designated | FUNDS | FUNDS | 2020 | 2019 | |||
| Purposes | ||||||||
| £ | £ | £ | £ | £ | £ | |||
| B1 RAISING FUNDS | ||||||||
| Stewardship programme costs | 98 | - | - | - | 98 | 219 | ||
| Traidcraft purchases | 474 | - | - | - | 474 | 678 | ||
| Fetes, bazaars, otherfund raising | ||||||||
| events | — 572 |
= wad |
- it |
eagilt _* |
vant 572 |
38 935 |
||
| B2 CHARITABLE ACTIVITIES | ||||||||
| Missionary & Charitable giving | ||||||||
| Overseas | 300 | - | - | - | 300 | 300 | ||
| Relief&developmentagencies | - | - | - | - | - | |||
| Home missions& otherchurch societies | 1,680 | - | - | 1,680 | 1,782 | |||
| Secular charities | 780 | _- | 100 | _- | 880 | 780 | ||
| Note 14 | 2,760 | - | 100 | - | 2,860 | 2,862 | ||
| Ministry : Diocesan Parish Share |
73,045 | - | 95 | - | 13,140 | 74,552 | ||
| : Working Expenses Incumbent | 2,138 | - | - | - | 2,138 | 2,898 | ||
| : Housing Expenses Incumbent : Locums and Interregnum. |
984 | - | - | - | 984 | 880 | ||
| : Clergy Fees/Expenses | - | - | - | - | - | 71 | ||
| Church Operating Expenses | 9,181 | - | 151 | - | 9,332 | 15,144 | ||
| Church Halls running costs | 14,195 | 3,407 | - | - | 17,602 | 18,169 | ||
| All Saints’ Parsonage (in vacancy) | - | 11,491 | - | - | 11,491 | 4,912 | ||
| Major repairs to churches | 5,956 | - | - | - | 5,956 | 1,404 | ||
| Major repairs to church halls | 3,956 | - | - | - | 3,956 | - | ||
| Salaries/wages | 1,132 | - | 178 | - | 1,310 | 2,936 | ||
| Furnishing & Equipment depreciation | 857 | - | - | - | 857 | 940 | ||
| Pilgrimages | - | - | 30 | - | 30 | 2,247 | ||
| Publications, stationery, postage, | ||||||||
| photocopier and administration costs | 1,424 | - | - | 1,424 | 1,340 | |||
| Independent Examiners fees | 1,239 | - | - | - | 1,239 | 1,197 | ||
| Other | 885 | - | 152 | _ | 1,037 | 3,286 | ||
| 117,752 | 14,898 | 706 | _ | 133,356 | 132,838 | |||
| TOTAL | 118,324 | 14,898 | 706 | - | 133,928 | 133,773 |
Page 8
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
| 4STAFF | STAFFCOSTS | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Wages & salaries | 8,704 | 10,143 | |
| Social security costs | = | - | |
| Pensions costs | rece 8,704 |
gee 10,143 |
During the year the PCC employed 8 persons. Their total remuneration and expenses amounted to £8,526 in 2020 and as such none of them earned £10,000 or more.
5 FIXED ASSETS FOR USE BY THE PCC
| 5(a) | Tangible fixed assets | Freehold Land | Fixtures | Total | |
|---|---|---|---|---|---|
| and Buildings | Fittings& Equipment | ||||
| at cost | |||||
| £ | £ | £ | |||
| ACTUAL/DEEMED COST _At 1 January 2020 | 229,149 | 28,827 | 257,976 | ||
| Addition during year | 1,338 | - | 1,338 | ||
| At 31 December2020 | 230,487 | 28,827 | 259.314 | ||
| DEPRECIATION (2% over50years) |
At 1 January2020 Charge forthe year |
96,266 4.271 |
18,484 857 |
114,750 5,128 |
|
| At31 December2020 | 100,537 | 19,341 | 119,878 | ||
| NETBOOKVALUE | At31 December2020 | 129.950 | 9,486 | 139,436 | |
| At31December2019 | 132,883 | 10,343 | 143,226 |
The freehold land and buildings comprise a) The curate’s house known as All Saints’ Parsonage and located at 295, Fernhill Road, Farnborough, Hants b) Holy Trinity Church Hail located at c/o Hawley Vicarage, Fernhill Road, Blackwater, Camberley, Surrey and c)the capitalised cost of the new extension, refurbishment works and Hall re-roof at All Saints’ Church Centre, located at .128, Chapel Lane, Farnborough, Hants. For accounting purposes the historical cost of these properties together with the cost of subsequent improvements of a capital nature are deemed to be their 2020 valuation.
| a) | 1974 | £19,111 | b) | 1968 | £3,278 | c)2005 | £107,365 |
|---|---|---|---|---|---|---|---|
| 2009 | £10,866 | 1999/2002 - | £38,913 | 2006 | £191 | ||
| Cap.Refurbishment | £29,977 | Cap.Refurbishment | £42,191 | 2011 | £(1,733) | ||
| 2019 | £51,158 | ||||||
| 2020 | __£1,338 | ||||||
| CapRefurbishment | £158,319 |
Fixtures, Fittings and Equipment:Replacement in 2017 of the Electronic Organ at All Saints’ with a new instrument from Viscount Classical Organs Ltd. — Model Envoy 35F — being depreciated over 15 years.
The insured cover of freehold land and buildings above with landlords fittings and/or contents is:
a) £417,852 plus 30% inflationary uplift from day 1. b) Up to a loss limit of £2,900,000 averaged over period of insurance.
In addition, certain assets which are consecrated or dedicated as described under the fixed assets section in Appendix A on page 17 have been excluded in the accounts. The insured cover of these assets is as follows:
Holy Trinity Church All Saints’ Church and Hall
Up to a loss limit of £11,590,000 Up to a loss limit of £2,900,000 .
Page 9
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HAWLEY GREEN PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
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5(b) D2 Investment Assets: 2020 2019 2020 2019
£ £
Valuation at 31 December
Permanent Endowments Price per share
Mrs Humphries’s - Grave Pence Pence
Holding of 379.86 shares in 2 %% - - 380 380
Consolidated Stock (Cost £200).
Stock redeemed at par, 5 July 2015
Funds at bank pending reinvestment.
To yield income for upkeep of grave in
Holy Trinity Churchyard.
All Saints’ Clergy House Trust
Holding of 4604 shares in Central Board
of Finance Investment Fund, held in the name Pence Pence
of Guildford Diocesan Board of Finance. 2044.67 1912.60 94,137 88,056
To yield income solely to form part of the Asst. Curate of Hawley’s
stipend. In times when there is no licensed Asst. Curate of Hawley
in post, the Managing Trustees shall apply the clear yearly income
of the Asst. Clergy Fund to pay the cost of provision of retired
clergy to cover the ecclesiastical services when the incumbent
is not available.
Glebe Endowment
(Holy Trinity)
Holding of 310.82 shares in Central Board
of Finance Investment Fund, held in the name Pence Pence
of Guildford Diocesan Board of Finance. 2044.67 1912.60 6,355 5,945
To yield income solely to form part of the
Incumbent of Hawley’s stipend. 100,872 94,381
5(c) Inventory Assets: 2020 2019
£ £
All Saints’ Church, South Hawley
Memorial to Father Michael Moore SSC
Icon of the “Last Supper” commissioned from St Andrew’s Abbey
Zevenkerken, Brugge, Belgium in November 2002
Cost 21 October 2003 €1, 500 £1,056 Book Value Book Value
Now fully depreciated £1,056 Nil Nil
All Saints’ Church, South Hawley
Icons of “Our Lord” and “Our Lady” commissioned from
“Evegenia Inimia” of Romania through the Director of Children in Distress
Charity from its Glasgow office.
Cost 17 October 2007 £1,250 Book Value Book Value
Now fully depreciated £1,250 Nil Nil
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Page 10
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
| 6ANALYSIS OF NETASSETS | UNRESTRICTED | UNRESTRICTED | RESTRICTED | ENDOWMENT | TOTAL | FUNDS |
|---|---|---|---|---|---|---|
| BYFUND | FUNDS | FUNDS | FUNDS | 2020 | 2019 | |
| £ | £ | £ | £ | £ | ||
| Fixed assets | 139,436 | - | 100,492 | 239,928 | 237,227 | |
| CurrentAssets Liabilities |
333,740 | 51,336 | 380 | 385,456 | 333,353 | |
| Amounts falling due afteroneyear Amounts falling due afteroneyear |
(10,537) (834) |
(1,187) - |
- - |
(11,724) ___(834) |
(8,561) (100) |
|
| 461,805 | 50,149 | 100,872 | 612,826 | 561,919 | ||
| 7. DEBTORS | ||||||
| 2020 £ |
2019 £ |
|||||
| Debtors forgoods and services | - | 199 | ||||
| Amounts owed by any institution or body | corporate | |||||
| which are related parties to the PCC | - | - | ||||
| Otherdebtors | 3,411 | 3,918 | ||||
| Prepayments and accrued interest | 3,305 | 3.773 | ||||
| 6,716 | 7,890 | |||||
| 8. LIABILITIES : AMOUNTS FALLING |
DUE WITHIN | |||||
| ONE YEAR | ||||||
| Creditors forgoods and services | 6,450 | 5,345 | ||||
| Amountsowed to any institution orbody | ||||||
| corporate which are related parties | ||||||
| tothe PCC. | 2,962 | 217 | ||||
| Other creditors Accruals & deferred income |
1,343 30 |
“41,360 1,639 |
||||
| 10,785 | 8,561 | |||||
| 9. LIABILITIES : AMOUNTS FALLING |
DUEAFTER | |||||
| ONEYEAR | ||||||
| Other creditors | - | - | ||||
| Accruals&deferredincome | 834 | 100 | ||||
| 834 | 100 |
Page 11
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
| 10 FUNDS | ||||||
|---|---|---|---|---|---|---|
| INCOMING | RESOURCES | TRANSFERS | NET | TOTAL | FUNDS | |
| RESOURCES | EXPENDED | INCOMING | B/Fwd | TOTAL | ||
| RESOURCES | 1/1/20 | 31/12/20 | ||||
| £ | £ | £ | £ | £ | £ | |
| a) UNRESTRICTED DESIGNATED | FUNDS | |||||
| All Saints’ Parsonage | 17,134 | 11,491 | - | 5,643 | 76,267 | 81,910 |
| Halls Reserve | 307 | 3,407 | (3,100) | 76,483 | 73,383 | |
| Holy Trinity Building Reserve | 371 | - | - | 371 | 44.400 | 44,771 |
| 17,812 | 14,898 | - | 2,914 | 197,150 | 200,064 | |
| b) RESTRICTED FUNDS | ||||||
| Holy Trinity Fabric Fund | 2,022 | - | - | 2,022 | 9,967 | 11,989 |
| Missionary& Charitable giving | - | - | - | - | - | - |
| 201 Club | - | - | - | - | - | - |
| Easter/Whitsun Offering | 95 | 95 | - | - | - | - |
| Education | - | - | - | - | 39 | 39 |
| Churchyard Flowers |
75 181 |
21 130 |
- - |
54 51 |
58 790 |
112 841 |
| Memorial Garden for Children Fund | - | - | - | - | 196 | 196 |
| Insurance claims | 1 | - | - | t | 276 | 277 |
| Parishioners’ donations | 184 | - | - | 184 | 389 | 573 |
| All Saints’ Building Fund | 358 | - | 358 | 8,198 | 8,556 | |
| Our Lady ofWalsingham | 159 | 120 | - | 39 | 233 | 272 |
| HawleyAnglican Men’s Society | 170 | 162 | _- | 8 | 1,714 | 1,722 |
| Sub Total | 3,245 | 528 | - | 2,717 | 21,860 | 24,577 |
| Mrs Humphries’s Grave | - | - | - | - | 35 | 35 |
| All Saints’ Clergy House Trust | 2,744 | - | - | 2,744 | 22,793 | 25,537 |
| Glebe Stipend Endowment | 178 | 178 | - | - | - | - |
| 6,167 | 706 | _- | 5,461 | 44,688 | 50,149 |
Page 12
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
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|||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|NATURE|and|PURPOSE|
|a)|Designated|Funds|
|All|Saints’|Parsonage|Reserve funds|-|to meet|the|PCC’s|liability|for future|building|and|operational|costs.|
|Halls|Reserve|To|fund|future|major repairs/refurbishments|to|our|halls,|car|parks|and|surrounding|areas.|
|Holy|Trinity|Building|Reserve|To fund|future|major|repairs/refurbishment|of Holy|Trinity|Church.|To|include|expenditure|
|which|under|its terms|could|not|be|taken from|Holy|Trinity|Fabric|Fund.|
|b)|Restricted|Funds|
|Holy|Trinity|Fabric|Fund|Incoming|resources|given|specifically for fabric|repairs and|fittings|replacements|at|Holy|
|Trinity|Church.|
|Missionary|and|Charitable|Giving|Collections and|donations|specifically|received|towards|missionary|and charitable|
|organisations,|where|at the time|of the|giving|the|recipient|had|not|been|determined|by the|
|PCC.|
|201|Club|That|part|of monies|received|from|club|members|specifically|for the|purchase|of chances|
|for|inclusion|in|the|twelve|draws,|which|defrays|the|cost|of prizes|and|expenses. The|
|balance|of monies|is|given|to|Step|by|Step|Partnership|Ltd,|Aldershot.|
|Easter and Whitsun|Offerings|Collections on|Easter Day and Whitsunday and|contents|of special|envelopes|specifically|
|given|towards the|parish|contribution|to|clergy stipends|paid|to the|diocese through|the|
|Parish|Share|scheme.|
|Education|All monies|received|given|specifically to meet costs|of educational|work incurred|in|the|
|parish.|
|Churchyard|Monies|received|specifically|for the|upkeep|of graves|and/or|maintenance|of the|
|churchyard|and|burial|grounds|at|Holy|Trinity|Church.|
|Flowers|Donations|received|from|individuals|specifically for the|purchase|of flowers/ decorations.|
|Memorial|Garden|for Children|Fund|Monies|given|specifically|towards|the|cost|of establishing|a|memorial|garden|for children|in|
|the|churchyard/burial|ground|at|Holy|Trinity|Church|and|its|ongoing|maintenance.|
|Insurance|Claims|Insurance|proceeds|received|in|response|to claims|for:|
|Holy|Trinity|Church —|Re-decoration|of internal|surfaces|on|the|north|walls|of the|
|church|following|water damage|due to|theft of external|lead.|
|Parishioner’s|donations|Donations|received|specifically for use|at|Holy|Trinity|Church|and/or|All|Saints’|Church.|
|All|Saints’|Building|Fund|Monies|raised|to|assist|with|the funding|of major|refurbishment works|necessary|at All|
|Saints’|Hall.|Phase|1|of the works|to|include|toilet|block extension together with|complete|
|renovation|of the|kitchen|— to|accord|with|current disabled|access|and|environmental|
|legislation|and|provision|of a|soundproof partition|between|the|church|and|hall.|The fund|
|is|continuing|to|assist with|future|works/repairs.|
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Page 13
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
Our Lady of Walsingham
Hawley Anglican Men’s Society
Subscriptions and donations received from members of the Walsingham Cell and monies raised through the Cell’s activities.
Subscriptions and donations received from members of the Hawley Anglican Men’s Society and monies raised through activities of the society, other than donations/collections received for a named charity.
c) Endowment Funds
Mrs Humphries’s grave See page 10 All Saints’ Clergy House Trust See page 10
Glebe Endowment (Holy Trinity) 11. INDEPENDENT EXAMINER’S FEES
See page 10
Payment to Azets for professional services rendered in acting as Independent Examiners in respect of the Accounts to 31% December in accordance with the Charities Act 2011 12. CONNECTED CHARITIES TO THE PCC
2020 2019 £ £ 1,239 1,197
The Parochial Church Council places short term funds with the Central Board of Finance of the Church of England on its Deposit Fund Account with their Investment Office at CCLA Investment Management Ltd, Senator House, 85 Queen Victoria Street, London EC4V 4ET.
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Deposits at 31 December 365,249 314,444
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13. INDEMNITY INSURANCE
The Vicar/Churchwardens/PCC are insured by the Parish Plus Insurance Policies under the Guildford Group Insurance Scheme for churches operated by the Ecclesiastical Insurance Office PLC (E10), Gloucester in respect of Holy Trinity Church/Hall and All Saints’ Church Centre.
This insurance provides cover as indicated on Page 9 at an annual premium of £5,353 and includes cover for theft by Church Officials up to £10,000 in any one claim at either church.
14. CONTINGENT LIABILITIES
We are in the process of determining who is responsible for the payment of the repairs (£600) to the Vicarage/Trinity Hall boundary fence. The Diocesan Surveyor is currently investigating whether this is a diocesan or parish responsibility.
Page 14
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
| 14 GRANTS —MISSIONARY& CHARITABLE GIVING | 2020 | 2019 |
|---|---|---|
| Analysis ofgrants shown undernote 3 B2 on Page 8 | £ | £ |
| The Children’s Society | 260 | 260 |
| St Francis Outreach Trust—South Africa | 300 | 300 |
| Additional Curates Society | 300 | 300 |
| Farnborough Christian Outreach Trust—The Triangle Bookshop | 300 | 300 |
| Forward in Faith | 300 | 300 |
| Anglo Catholic Ordination Candidates Fund | 260 | 260 |
| Wessex Children’s Hospice Trust—Naomi House | 260 | 260 |
| Churches Together in Fleetand Crookham— FleetAngels | 260 | 260 |
| The Shrine ofOur Lady ofWalsingham | = | = |
| Camberley All NightCafé—A safe place forhomeless people | 260 | 260 |
| Barnabas Fund | ~ | - |
| White Lodge Centre | - | 260 |
| Leprosy Mission | 260 | - |
| Phyllis Tuckwell Hospice | 100 | - |
| Step by Step Partnership Ltd | - | 102 |
| 2,860 | 2,862 |
In addition the following collections were taken and donations received/processed in 2020 towards the work of a number of advised designated charities. These amounts include Gift Aid Tax recoverable, if relevant. This information is reported to parishioners by way of a note as under current national guidelines the relevant accounting entries are now excluded from these financial statements.
a) Received through our churches
| Lenten appeal 2019—Additional Curates Society | - | 488 |
|---|---|---|
| Children in Distress | 325 | 379 |
| Additional Curates Society | - | 189 |
| Phyllis Tuckwell Hospice | - | 593 |
| Step by Step Partnership Ltd | 950 | 440 |
| The Children’s Society | - | 288 |
| Christian Aid | - | 749 |
| b) Raised by Public collection | ||
| Children in Distress— Carol singing | - | 188 |
| c) Other-arranged through theChurch by HawleyAnglican Men’s Society | ||
| Hawley Anglican Men’s Society—Virtual Carol Service | ||
| Phyllis Tuckwell Hospice | 295 | - |
| 1,570 | 3,314 |
Page 15
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
Appendix “A”
ACCOUNTING POLICIES
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Northern Ireland (FRS102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn.
The financial statements have been prepared under the historical cost convention except the valuation of investment assets, which are shown at market value. The Parochial Church Council has adopted the accrual accounting basis for the preparation of the financial statements.
FUNDS
forGeneral funds representthe funds of the PCC that are not subject to any restrictions regarding their use and are available application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in note 10.
Endowment funds, where capital must be retained, are explained in note 5(b).
The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law.
INCOMING RESOURCES
VOLUNTARY INCOME AND CAPITAL SOURCES
Income represents the amount of voluntary donations as recorded whether by loose cash, bankers order or other form of instrument.
Collections are recognised when received by or on behalf of the PCC.
Planned giving receivable under Gift Aid is recognised only when received.
Income Tax recoverable on Gift Aid donations is recognised when the income is recognised.
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Funds raised by fetes, bazaars, catering at social functions, pilgrimages and similar events are accounted for gross.
OTHER INCOME
Rental income from the letting of church premises is recognised when the rental is due.
Page 16
NOTES TO THE FINANCIALHAWLEY STATEMENTS GREEN PAROCHIALFOR THE YEAR CHURCHENDED COUNCIL31 DECEMBER 2020 contd.
INCOME FROM INVESTMENTS
Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
GAINS & LOSSES ON INVESTMENTS
Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31st December 2020.
RESOURCES EXPENDED
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 parish share is accounted for when due. Any share unpaid at 31% December 2020 will be provided for in these accounts as an operational (though not a legal) liability and shown asa creditor in the Balance Sheet.
FIXED ASSETS
CONSECRATED LAND - BUILDINGS AND MOVEABLE CHURCH FURNISHINGS
Consecrated and beneficed property of any kind is excluded from the accounts as required by the Charities Act 2011.
Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church’s Inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalized and depreciated in the accounts over their currently anticipated useful economic life on a straightline basis.
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before 1 January 2000 is written off.
OTHER LAND AND BUILDINGS
Except for inalienable property, non consecrated and non-beneficed property is depreciated on a straight-line basis to write off each asset over its anticipated useful economic life, initially 50 years or the residual period.
OTHER FIXTURES, FITTINGS AND OFFICE EQUIPMENT
Equipment used within the church premises is depreciated ona straight-line basis over 4 years, or 12 years depending on the useful life of the asset. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.
INVESTMENTS
Investments are valued at market value at 31st December 2020.
Page 17
HAWLEY GREEN PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 contd.
CURRENT ASSETS
Amounts owing to the PCC at 31st December 2020 in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.
Short term deposits include cash held on deposit either with the CBF Church of England funds or at the bank.
Stocks, including wine stocks and stationery are shown at the lower of cost and net realisable value after making allowance for obsolete and slow moving items.
CONTROLLING PARTY
There is no overall controlling party.
Page 18