## THE PARISH CHURCH OF ST MARY, REDBOURN 

## PAROCHIAL CHURCH COUNCIL 

## ACCOUNTS FOR THE YEAR ENDED 

## 31[st] DECEMBER 2021 

MARCH 2022 

Charity No. 1130677 



## **St Mary’s Church, Redbourn** 

## Annual Report for 2021 

## **Background:** 

St Mary’s PCC has the responsibility of cooperating with the Incumbent, in promoting, in the ecclesiastical parish of Redbourn, the whole mission and ministry of the church, pastoral, social, evangelistic and ecumenical.  It also has the responsibility for the care and maintenance of the church and ancillary buildings of St Mary’s Church, Hemel Hempstead Road, Redbourn AL3 7NL. 

This report relates to the calendar year 2021 which is also the period covered by the church’s financial year. 

|**Membership:**|**For the year 2021**||
|---|---|---|
|Incumbent:|The Reverend Will Gibbs||
|Licensed Reader:|Mrs Kay Vernon||
||Ms Ailsa Hulme|(Licensed on 19 September 2021)|
|Churchwardens:|Mr David Mitchell||
||Mr Paul Vernon||
|Deputy Churchwardens:|Mr Stephen Gell||
||Mr Alan Simkins|(to 25 April 2021)|
||Mrs Catharine Pusey|(from 25 April 2021)|
|Diocesan Synod Member:|Mr Jim May||
||Dr Clorinda Goodman|(from 1 December 2021)|
|Deanery Synod Members:|Mr John Davie||
||Ms Ailsa Hulme||
||Mrs Sue May||
||Mrs Michelle Parry-Slater||
|Elected Members:|The two Deputy Churchwardens||
|_plus_|Mrs Deni Ennals||
||Mrs Daphne Fisher||
||Mrs Celia Forbes|PCC Secretary|
||Mr David Forbes||
||Mr Ralph Goold||
||Mr Brian Hayward||
||Mrs Sarah Hill||
||Ms Julia Jeffs||
||Mr Keith McAdam|PCC Lay Co-Chair|
||Ms Lesley Poulton||
||Mr David Walker||
||Mr Clive Williams||
||Mr Michael Wood||



## **Committees:** 

The PCC operates through several committees, which meet between full meetings of the PCC. 

## _Standing Committee:_ 

This is the only committee required by law. It has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. 

## A _ncillary Buildings Committee:_ 

This committee deals with matters of upkeep, development and stewardship of all the buildings associated with St Mary Redbourn, other than that of the church itself. 

1 



## _Churchyard Committee:_ 

Attends to matters concerning the care and upkeep of the churchyard and grounds. 

## _Charitable Finance Committee:_ 

This committee fosters, reviews and oversees the fundraising, charitable giving and relationships with the nominated charities to be supported by St Mary’s Church. 

## _Stewardship Committee:_ 

Considers how best to encourage the use of time, talents and finances in the service of God in this parish. 

## _Youth Committee:_ 

This committee enables the leaders of the various groups for younger members of the church to work closely together in our provision and care of this key age group in our fellowship. 

## **Church Attendance:** 

There are currently 204 parishioners on the Church Electoral Roll, of which 26 are not resident in the parish. During the various stages of the Covid pandemic and the resultant restrictions in force at times, St Mary’s adapted the pattern of services on offer in order to be fully compliant with the current regulations. At the same time, the approach sought to meet the worshipping and spiritual needs of the congregation and community, where there was a breadth to people’s personal health and circumstances and varying degrees of confidence to attend. 

A Saturday evening Eucharist was offered from January until Easter to increase our capacity whilst still allowing for social distancing, and the 9.30 am Eucharist was offered outside on the church lawn from Easter Day until the Patronal Festival whenever the weather permitted.  This proved a popular option for many of our regular congregation and also led to some new worshippers joining us for the first time. 

A weekly service online was offered through the first nine months of the year. This became a monthly online broadcast when a more usual pattern of services at 8 am and 9.30 am resumed in church in mid-September. The online services allowed an ongoing ministry to those who were continuing to shield and others who live further afield. The creativity and high quality of the productions has been appreciated and valued, as have the very considerable efforts and skills of those producing them. 

## **Review of the Year:** 

The full PCC met 6 times during the year, with the first four of these meetings held online and the meetings in September and November in person.  There was an average attendance level for the meetings of 82%. Church committees met in between PCC meetings and the minutes of their deliberations were received by the full PCC. 

Despite the challenging conditions, the PCC has worked hard on a number of key areas in the life of St Mary’s including the care of church fabric, pastoral care, community support and our worshipping life together. St Mary’s continued to play a key part in the Corona virus community response which has included friendly phone calls for conversation and pastoral support, collecting and delivering prescriptions, shopping for those who were isolating or housebound and a weekly community phone-in which ran until the summer. Following the retirement of our church architect, the PCC conducted an extensive search and recruitment process and, as a result, appointed a new architect in July. The church had its Quinquennial Inspection in November 2021 and will begin to attend to the works that arise from that in the coming months. 

St Mary’s, like all churches, suffered a drop in income from Transept lettings and loose plate giving during Covid but has been able to weather the impact of this reasonably well.  The contribution to the Diocesan Common Fund was £127,871 and was paid in full.  There will be financial challenges ahead resulting from the impact of increasing fuel costs and potentially from the rising cost of living affecting Stewardship giving. 

The Russian Orthodox congregation of St Simeon and St Anna continue to offer their liturgy once a month in our church, although the pattern has been disrupted at times due to the pandemic. It remains a highly valued relationship, as is our part within Churches Together in Redbourn and the relationship between the ministers and congregations of the Anglican, Roman Catholic and Methodist churches is cordial and strong. 

Our main charity focus for 2021 continued with the project called ‘Pumps for Mpwapwa’ which we began in 2020, seeking to pioneer a solar-powered water pumping and irrigation system in a village in Mpwapwa, 

2 



Tanzania where we have longstanding and valued links.  The original hope was that St Mary’s would raise about half of the money with the rest coming from grants or a matched funding scheme. During the early part of the year, it became apparent that neither was likely to be forthcoming and so we set about raising as much of the £40k as we could.  Through events and activities including the St Mary’s Arts Festival weekend and Eight Seasons concert, a Christmas Crafts sale, a crowdfunding campaign, several classical concerts from Quartet Camerata, sales of the Vicar’s book ‘A Minister’s Musings’, a Lockdown Live concert via Zoom, Virtual Beer & Carols in 2020 and 2021 and many generous individual donations, the whole sum was raised to enable this project to go ahead. 

We continue to support a local Food Bank by collecting tinned foods and dry goods regularly, which has been greatly appreciated following the financial pressures on many households during Covid. A second Christmas Hamper Scheme was run in December 2021 to offer festive food hampers, fuel top-ups and modest Christmas presents to 57 households (125 adults and 110 children) suffering from hardship – either long-term or resulting from the pandemic. 

This year has seen ongoing progress in the upkeep and maintenance of the churchyard through the commitment of volunteers involved in the mowing rota, the ongoing hard work of several people who care for specific flower beds and areas, and the regular and sustained visits from the local probation service. 

St Mary’s Church continues to benefit from the generous ministry of a wider ministry team which includes the incumbent, two licensed readers, a retired bishop and an accredited lay minister.  Our two Lay Leaders of Worship (LLWs) have sadly had fewer opportunities to plan and lead services but have played their part with memorable online services and some services in the Autumn when worship in church resumed.  Our pastoral visiting team continues to offer an important ministry to the sick and housebound as does our Bereavement Visiting Team following funerals conducted at or by St Mary’s. 

We continue to play a full and active part in the life of Wheathampstead Deanery, with four members elected to the Deanery Synod.  The Deanery consists of twelve churches across seven benefices who seek to support one another in collegiality, shared worship and joint projects, training and collaboration.  The Vicar and an additional two members of St Mary’s serve on St Albans Diocesan Synod. 

The occasional offices are an important part of the wider ministry offered by St Mary’s but the number of these conducted during 2021 was understandably lower than pre-pandemic levels. However, these have included 12 baptisms, 20 funerals or memorial services, 6 burials, 29 interments of cremated remains, and the solemnisation of 6 marriages. 

Safeguarding is given the highest priority and attention and Janet Lang, our Parish Safeguarding Officer, has led the way whilst working closely with others in regularly monitoring, reviewing and updating our Safeguarding policies and practices.  We continue to use a secure online dashboard to track progress, renewal dates and compliance.  DBS checks are carried out for all members of St Mary’s who work with children or vulnerable adults and our policies were last reviewed by the PCC in May 2021.  The PCC has continued to ensure that we remain compliant with General Data Protection Regulations. 

Our links with local schools are a key and valued part of our ministry, and several lessons and assemblies have been conducted online and in person. Several members of St Mary’s also serve on the schools’ Governing Bodies. 

The church owns two residential properties. The Old Church Hall has been occupied and fully let during 2021. The Vicarage Cottage became vacant in the latter part of 2021 and some repairs and improvements have been carried out whilst vacant with a view to re-letting the property shortly. 

In line with requirements, The Parochial Church Council of the Ecclesiastical Parish of St Mary Redbourn is registered with the Charity Commission: 1130677. It is our policy to invest our surplus funds with the CBF Church of England Deposit Fund. 

On behalf of the PCC: 


23[rd] March 2022 

_The Reverend Will Gibbs_ 

_Vicar and Chairman of the PCC_ 

3 



## **Independent Examiner's report to the Trustees of St Mary’s Parochial Church Council** 

I report on the accounts of the church for the year ended 31 December 2021 which are set out on pages 5 to 15. 

## **Respective Responsibilities of Trustees and Examiner** 

The church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 

It is my responsibility to: 

- Examine the accounts under section 145 of the 2011 Act; 

- To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and 

- To state whether particular matters have come to my attention. 

## **Basis of Independent Examiner's report** 

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. 

## **Independent Examiner's statement** 

In connection with my examination, no matter has come to my attention: 

1. which gives me reasonable cause to believe that in any material respect the requirements 

   - to keep accounting records in accordance with section 130 of the 2011 Act; and 

   - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or 

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 


Mrs R M Hughes FCA Wych Elms 20 Brache Close Redbourn Herts AL3 7HX 

23[rd] March 2022 

4 



## **Parochial Church Council of St Mary's, Redbourn Statement of Financial Activities** 

## **for the year ending 31 December 2021** 

|||Unrestricted|Restricted|<br>Endowment|<br>Endowment|<br>Total|Total|
|---|---|---|---|---|---|---|---|
|||Funds|Funds|Funds||2021|2020|
||Note|£|£|£||£|£|
|INCOME||||||||
|_Voluntary income_|2(a)|154,608|9,206|-||163,814|190,717|
|_Income from church activities_|2(b)|24,494|-|-||24,494|20,585|
|_Activities for generating funds_|2(c)|35,921|-|-||35,921|11,675|
|_Income from investments_|2(d)|22,389|29|-||22,418|24,838|
|||_______|_______|_______|_______||_______|
|TOTAL INCOME||237,412|9,235|-||246,647|247,815|
|||_______|_______|______||______|______|
|EXPENDITURE||||||||
|_Charitable giving_|3(a)|30,016|-|-||30,016|14,000|
|_Other church activities_|3(b)|190,730|-|-||190,730|196,654|
|_Raising funds_|3(c)|7,504|16,518|-||24,022|4,510|
|||_______|______|______||______|______|
|TOTAL EXPENDITURE||228,250|16,518|-||244,768|215,164|
|||_______|______|______||______|______|
|NET INCOME/(EXPENDITURE)||9,162|(7,283)|-||1,879|32,651|
|BEFORE INVESTMENT GAINS/(LOSSES)||||||||
|NET GAINS/(LOSSES) ON INVESTMENTS||2,993|123|-||3,116|1,384|
|REVALUATION OF INVESTMENT||65,000|-|-||65,000|55,000|
|PROPERTY||||||||
|||______|______|______||______|______|
|NET INCOME/(EXPENDITURE)||77,155|(7,160)|-||69,995|89,035|
|TRANSFERS BETWEEN FUNDS||-|-|-||-|-|
|||______|______|______||______|______|
|NET MOVEMENT IN FUNDS||77,155|(7,160)|-||69,995|89,035|
|BALANCES BROUGHT FORWARD AT||903,864|14,794|1,398||920,056|831,021|
|1 JANUARY 2021||______|______|______||______|_______|
|BALANCES CARRIED FORWARD AT||981,019|7,634|1,398||990,051|920,056|
|31 DECEMBER 2021||______|______|______||______|_______|



5 



## **Parochial Church Council of St Mary's, Redbourn** 

## **Balance Sheet** 

## **at 31 December 2021** 

|**Balance Sheet**<br>**at 31 December 2021**||||
|---|---|---|---|
||Notes|2021|2020|
|||£|£|
|FIXED ASSETS||||
|Tangible Fixed Assets|5(a)|-|-|
|Investment Assets|5(b)|894,790|826,674|
|||_______|_______|
|||894,790|826,674|
|CURRENT ASSETS||||
|Debtors|7|15,639|12,475|
|Deposit Funds||89,478|68,809|
|Cash at bank and in hand||65,556|68,101|
|||_______|_______|
|||170,673|149,385|
|LIABILITIES||||
|Amounts falling due in one year|8 (a)|(50,412)|(31,003)|
|||_______|_______|
|NET CURRENT ASSETS||120,261|118,382|
|||_______|_______|
|TOTAL NET ASSETS LESS CURRENT LIABILITIES||1,015,051|945,056|
|LIABILITIES||||
|Amounts falling due after one year|8 (b)|(25,000)|(25,000)|
|||_______|_______|
|TOTAL NET ASSETS LESS LIABILITIES||990,051|920,056|
|||_______|_______|
|PARISH FUNDS|9|||
|Unrestricted||981,019|903,864|
|Restricted||7,634|14,794|
|Endowment||1,398|1,398|
|||_______|_______|
|||990,051|920,056|
|||_______|_______|



Approved by the Parochial Church Council on 23[rd] March 2022 and signed on its behalf by: 


## Chairman 

The notes on pages 7 to 15 form part of these accounts 

6 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 1. ACCOUNTING POLICIES 

The accounts have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS 102)). 

The accounts have been prepared under the historical cost convention except for investment properties, which are included in the accounts at market value. 

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law.  They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members. 

## **Incoming Resources** 

## _**Voluntary Income and Capital Sources**_ 

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 related 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 the Charitable Finance Committee and other events are accounted for gross. 

Sales of books and magazines from the church bookstall are accounted for gross. 

## _**Income from Investments**_ 

Dividends are accounted for when due and payable.  Interest entitlements are accounted for as they accrue. 

Rental income from the letting of church premises is recognised when the rental is due. 

## _**Gains and 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 31 December. 

## **Resources Used** 

## _**Charitable Giving**_ 

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 paid. 

7 



**Parochial Church Council of St Mary's, Redbourn** 

**Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 1. ACCOUNTING POLICIES (cont.) 

## **Fixed Assets** 

## _**Consecrated property and movable Church furnishings**_ 

Consecrated and beneficed property of any kind is excluded from the accounts by s.10(2) of the Charities Act 2011. 

Movable Church furnishings held by the Vicar and the Churchwardens on special trust for the PCC, and which require a Faculty for disposal, are accounted for 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 2001 there is insufficient cost information available and therefore such assets are not valued in the accounts.  Items acquired since 1 January 2001 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight line basis. 

All expenditure incurred in the year on consecrated or beneficed buildings, on individual items under £2,000 or on the repair of movable Church furnishings acquired before 1 January 2001 is written off. 

## _**Freehold land and buildings**_ 

Freehold land and buildings held for the use of the PCC are included in fixed assets and depreciated over 50 years on a straight line basis. 

Property held for investment purposes is included in Investment Assets at market value. 

## _**Other fixtures, fittings and office equipment**_ 

Equipment used within the Church premises is depreciated on a straight line basis over periods of between five and ten years.   Individual items of equipment with a purchase price of £2,000 or less are written off when the asset is acquired. 

## _**Investments**_ 

Investments are valued at market value at 31 December. 

## **Current Assets** 

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable. 

Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank. 

## **Funds** 

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application for the general purposes of the PCC.   Funds designated for a particular purpose by the PCC are also unrestricted. 

Restricted funds are only used for the specific purposes for which they are held. 

Further details on funds held by the PCC are given in Note 9. 

8 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 2. INCOME 

|INCOME|INCOME|||||
|---|---|---|---|---|---|
|Unrestricted||Restricted|Endowment|Total|Total|
||Funds|Funds|Funds|2021|2020|
||£|£|£|£|£|
|2(a)_Voluntary income_||||||
|Planned giving|96,542|-|-|96,542|98,332|
|Cash collections in Church|11,963|-|-|11,963|8,952|
|Sundry donations (excl charity collections)|16,342|-|-|16,342|35,969|
|Gift aid recoverable|26,890|-|-|26,890|33,286|
|Legacies|1,250|-|-|1,250|-|
|Grants|1,004|-|-|1,004|401|
|Special appeals|617|9,206|-|9,823|13,777|
||______|______|______|______|______|
||154,608|9,206|-|163,814|190,717|
||______|______|______|______|______|
|2(b)_Income from church activities_||||||
|Parish magazine sales|6,011|-|-|6,011|7,473|
|Fees for weddings, funerals etc|12,969|-|-|12,969|9,362|
|Transept/Office letting income|5,514|-|-|5,514|3,750|
|Fees for church clubs and trips|-|-|-|-|-|
||______|______|______|______|______|
||24,494|-|-|24,494|20,585|
||**______**|**______**|**______**|**______**|**______**|
|2(c)_Activities for generating funds_||||||
|Parish magazine advertising & services|5,302|-|-|5,302|5,613|
|Fund-raising events|30,619|-|-|30,619|6,062|
||______|______|______|______|______|
||35,921|-|-|35,921|11,675|
||______|______|______|______|______|
|2(d)_Income from investments_||||||
|<br>Dividends and interest|647|29|-|676|898|
|Property rental income|21,742|-|-|21,742|23,940|
||______|______|______|______|______|
||22,389|29|-|22,418|24,838|
||______|______|______|______|______|
|TOTAL INCOME|237,412|9,235|-|246,647|247,815|
||______|______|______|______|______|



9 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 3. EXPENDITURE 

|EXPENDITURE||||||
|---|---|---|---|---|---|
||Unrestricted|Restricted|Endowment|Total|Total|
||Funds|Funds|Funds|2021|2020|
|||£|£|£|£|
|3(a)_Charitable giving_||||||
|Donations from Charitable Finance||||||
|Committee (Note 10(a))|28,922|-|-|28,922|12,907|
|Other church charitable donations||||||
|(Note 10(b))|1,094|-|-|1,094|1,093|
||______|______|______|______|______|
||30,016|-|-|30,016|14,000|
||______|______|______|______|______|
|3(b)_Other_ _church activities_||||||
|Diocesan parish share|127,871|-|-|127,871|133,160|
|Fees paid to diocese|5,061|-|-|5,061|4,192|
|Parish office expenses|8,987|-|-|8,987|10,478|
|Insurance|3,577|-|-|3,577|3,643|
|Heat, light and water|6,731|-|-|6,731|8,854|
|Transept management and cleaning|4,199|-|-|4,199|4,707|
|Organist and choir|7,472|-|-|7,472|7,650|
|Churchyard expenses|3,059|-|-|3,059|2,203|
|Church maintenance|5,094|-|-|5,094|4,551|
|Parish magazine printing|6,456|-|-|6,456|6,478|
|Expenses for church clubs and trips|238|-|-|238|-|
|Other expenses|11,985|-|-|11,985|10,738|
||______|______|______|______|______|
||190,730|-|-|190,730|196,654|
||______|______|______|______|______|
|3(c)_Raising funds_||||||
|Fund-raising expenses|2,522|-|-|2,522|-|
|CFC fund expenses|4,897|-|-|4,897|-|
|Hamper fund expenses|-|16,518|-|16,518|4,485|
|Stewardship expenses|-|-|-|-|-|
|Social expenses|85|-|-|85|25|
||______|______|______|______|______|
||7,504|16,518|-|24,022|4,510|
||______|______|______|______|______|
|TOTAL EXPENDITURE|228,250|16,518|-|244,768|215,164|
||______|______|______|______|______|



10 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 4. STAFF COSTS AND TRANSACTIONS WITH PCC MEMBERS 

The PCC pay remuneration to the Organist, the Transept Hall Caretaker and the Church Secretary.  In total the amount paid during the year to these people was £16,359 (2020: £14,636).  None of these people are members of the PCC. 

No significant payments were made either directly or indirectly to members of the PCC during the year and no contracts were entered into involving PCC members personally or persons with a close family or business connection with them. 

## 5. FIXED ASSETS 

5(a) _Tangible fixed assets_ 

|_Tangible fixed assets_||||||
|---|---|---|---|---|---|
|||Freehold|Movable|||
|||land and|church|Office||
|||buildings|furnishings|equipment|Total|
|||£|£|£|£|
|ACTUAL/DEEMED COST At 1 January 2021||-|15,004|-|15,004|
||Additions|-|-|-|-|
|||______|_____|_____|______|
||At 31 December 2021|-|15,004|-|15,004|
|||______|______|______|______|
|DEPRECIATION|At 1 January 2021|-|15,004|-|15,004|
||Charge for the year|-|-|-|-|
||Disposals|-|-|-|-|
|||______|_____|_____|_____|
||At 31 December 2021|-|15,004|-|15,004|
|||______|_____|_____|_____|
|NET BOOK VALUE|At 31 December 2021|-|-|-|-|
|||______|______|______|______|
||At 31 December 2020|-|-|-|-|
|||______|______|______|______|



As disclosed in the accounting policies, consecrated and benefice property are not included in these accounts.  This includes the Church, attached Transept Hall and the Vicarage.  The Church and Transept Hall are insured for £11.59 million. 

Movable church furnishings include the PC system installed in the Church which is now fully depreciated. 

11 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 5. FIXED ASSETS (cont.). 

5(b) _Investments_ 

|_Investments_||||
|---|---|---|---|
||Investment|Investment|Total|
||Properties|Funds||
||£|£|£|
|Market value at 1 January 2021|805,000|21,674|826,674|
|Disposals|-|-|-|
|Increase/(Decrease) on annual revaluation|65,000|3,116|68,116|
||______|______|______|
|Market value at 31 December 2021|870,000|24,790|894,790|
||______|______|______|



Investment properties comprise the Vicarage Cottage located at 45 Church End, Redbourn and the Old Church Hall located at 45B Church End, Redbourn which are let on a commercial basis. As investment properties, the Vicarage Cottage (£405,000, 2019: £380,000) and the Old Church Hall (£465,000, 2020: £425,000) are shown at market value and not depreciated. 

Investment funds comprise shares in the CBF Church of England Investment Fund. 1,060 shares were held at 31 December 2021 (2020: 1,060). 

## 6.  ANALYSIS OF NET ASSETS BY FUND 

||Unrestricted|Restricted|Endowment||
|---|---|---|---|---|
||Funds|Funds|Funds|Total|
||£|£|£|£|
|Investment Assets|892,453|939|1,398|894,790|
|Current Assets|162,519|8,154|-|170,673|
|Liabilities: amounts falling due in one year|(48,953)|(1,459)|-|(50,412)|
|Liabilities: amounts falling due after one year|(25,000)|-|-|(25,000)|
||______|______|______|______|
|Fund balance|981,019|7,634|1,398|990,051|
||______|______|______|______|



## 7.  DEBTORS 

|DEBTORS|||
|---|---|---|
||2021|2020|
||£|£|
|Gift aid recoverable|9,234|10,212|
|Other debtors|253|41|
|Prepayments and accrued income|6,152|2,222|
||______|______|
||15,639|12,475|
||______|______|



12 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 8.  LIABILITIES 

_8 (a) Short Term Liabilities_ 

|_8 (a) Short Term Liabilities_|||
|---|---|---|
||2021|2020|
||£|£|
|Amounts falling due in one year:|||
|Deferred income|3,250|2,895|
|Loans repayable (see Note 8(b))|-|-|
|Accruals for utility and other costs|47,162|28,108|
||______|______|
||50,412|31,003|
||______|______|
|_8 (b) Long Term Liabilities_|||
||2021|2020|
||£|£|
|Amounts falling due after one year:|||
|Long Term Loans|25,000|25,000|
||______|______|



In order to fund a shortfall in building costs relating to the Old Church Hall renovation, a series of interest free long term loans were made to the church in 2017 by several members of the congregation. These will be repaid at various dates over 10 years using the residential letting income from the property. None of the loans are due for repayment in 2022. 

## 9. FUNDS 

The headings used for the majority of the fund accounts are self-explanatory such as Church Bells Fund, Transept and Church Hall Funds, Vicars Car Fund, Choir Fund, Churchyard Fund and Common Round Fund, inter alia. These funds are not restricted to their particular heading under the terms of the Charities Act but are generally only used by the PCC for the purpose indicated by the Fund heading. 

The General Fund is effectively the reserves of the PCC to be used for any purpose and which will reflect any surplus or deficit made by the PCC in the general running of the Church. 

There are some funds held by the PCC which are restricted and can only be used for a specific purpose and these are as follows: 

Organ and Piano Fund – Certain contributions to this fund are not restricted, however contributions specifically donated for organ renovation are restricted. 

Hall No 1 Fund – Set up for the upkeep of the altar rails. 

Baskerville and Trevannion Funds – Restricted funds whose origin and purpose are set out on a board in the Vestry and a tablet in the Chancel. 

There are also a number of funds held by the St Albans Diocesan Board of Finance on our behalf which are incorporated into our accounts. There are some restrictions on the use of these funds. 

Chancel Fund was originally set up in the 1930’s to discharge a landowner’s liability for the insurance and repair of the Chancel. It was set up in the sum of £43.11s.8d. Only the income and accumulations of income are available for use. 

Land Sale Fund originated as a result of the sale of some land by the PCC and the original capital was £1,200. The income is available to the PCC for general ecclesiastical purposes within the parish. 

13 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 9.  FUNDS (cont.) 

The movements on the fund balances during the year were as follows: 

||Opening|Income|Expenditure|Gain on|Transfers|Closing|
|---|---|---|---|---|---|---|
||balance at|during|during|market|between|balance at|
||1/1/21|year|year|value|funds|31/12/21|
||£|£|£|£|£|£|
|Church Bells Fund|8,423|270|-|-|(462)|8,231|
|Choir Fund|78|-|-|-|-|78|
|Church Hall Fund|412,339|13,742|1,950|40,000|-|464,131|
|Church Transept Fund|292|5,514|6,135|-|2,000|1,671|
|Churchyard Fund|234|-|-|-|-|234|
|General Fund|20,589|167,096|175,029|-|5,262|17,918|
|Organ and Piano Fund|330|-|-|-|-|330|
|Vicarage Cottage Fund|407,932|8,000|4,364|25,000|-|436,568|
|Vicar's Car Fund|13,472|-||-|-|13,472|
|Common Round Fund|10,271|11,313|6,456|-|(10,000)|5,128|
|Young People's Work Fund|3,490|250|497|-|-|3,243|
|Hall No 1 Fund|1,688|1|-|-|-|1,689|
|Charitable Finance Committee|-|30,619|33,819|-|3,200|-|
|Baskerville Fund|1,711|1|-|-|-|1,712|
|Trevannion Fund|1,308|1|-|-|-|1,309|
|Chancel Fund (Diocese)|2,789|26|-|123|-|2,938|
|Land Sale Fund (Diocese)|26,852|608|-|2,993|-|30,453|
|Flower Fund|917|-|-|-|-|917|
|Hamper Fund|7,341|9,206|16,518|-|-|29|
||______|______|______|______|______|______|
|Total|920,056|246,647|244,768|68,116|-|990,051|
||______|______|______|______|______|______|



14 



**Parochial Church Council of St Mary's, Redbourn** 

## **Notes to the Accounts** 

## **for the year ending 31 December 2021** 

## 10. SPECIAL GRANTS AND COLLECTIONS 

|||£|
|---|---|---|
|10(a)|_Donations from Charitable Finance Committee_||
||Pumps for Mpwapwa|28,458|
||Luton Food Bank|464|
|||______|
|||28,922|
|||______|



The donation for Pumps for Mpwapwa is accrued as a liability in the accounts and payment was made in March 2022.  In total, £41,365 was raised during 2020 and 2021. 

## 10(b) _Collections and donations organised by the Church_ 

|Bishop’s Harvest Appeal|457|
|---|---|
|Friends of St Mary’s|539|
|Churches Together|98|
||______|
||1,094|
||______|



## 10(c) _Collections from funerals paid to charities_ 

|Cancer Research|488|
|---|---|
|NRAS (Rheumatoid arthritis charity)|133|
|NSPCC|133|
|British Heart Foundation|72|
||______|
||826|
||______|



These amounts are paid to the relevant charities and have not been included in the Statement of Financial Activities. 

## 11. QUINQUENNIAL INSPECTION 

There was a Quinquennial Inspection in November 2021 and we await the report. The PCC will plan any works that arise from that in the coming months. 

15