Charity number: 1130679
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
UNAUDITED
PCC MEMBERS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the PCC, its PCC members and advisers | 1 |
| PCC members' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 23 |
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
REFERENCE AND ADMINISTRATIVE DETAILS OF THE PCC, ITS PCC MEMBERS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
| PCC members | Fr. David Wylie, Chairman |
|---|---|
| Mrs Lorrina Cockett | |
| Mr Michael Bridge | |
| Mrs Kate Baynes | |
| Mr Peter Fisher | |
| Mr Donald Fraser | |
| Mrs Lorna Green | |
| Mr John May | |
| Miss Tracey Searle | |
| Mrs Carol Dowsett | |
| Mr Peter Maddox | |
| Mr David Stowe | |
| Charity registered number 1130679 Principal office St Margarets's Vicarage 1465 London Road Leigh on Sea Essex SS9 2SB Independent examiner Stuart Rowson FCA Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB Bankers Santander UK Plc Bridle Road Bootle Merseyside G1R OAA |
Page 1
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
PCC MEMBERS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The PCC members present their annual report together with the financial statements of the The Parochial Church Council of the Ecclesiastical Parish of St Margaret's, Leigh on Sea for the year 1 January 2020 to 31 December 2020.
The PCC also operates under the name of The Parochial Church Council of St Margaret's, Leigh on Sea.
St Margaret’s Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent in promoting within the ecclesiastical parish the mission of the church in its pastoral, liturgical and evangelistic dimensions. The PCC is also specifically responsible for the maintenance of the church, church hall and other properties of St Margaret’s, Leigh-on-Sea.
As from March 2020 the restrictions imposed by government and the Church of England have affected all aspects of church life including public worship and the use of church buildings. These restrictions also resulted in delaying the holding of the Year Ending 2019 Vestry Meeting and APCM until October 2020.
Objectives and activities
a. Policies and objectives
The PCC is committed to enabling as many people as possible to worship both within the church and through the parish. The PCC has a cooperative overview of worship and how our liturgical and wider mission may involve the many groups that live and work within our parish. Our worship has a sacramental and scriptural focus and encourages faith in personal prayer and action.
When planning our activities for the year we considered the Charity Commission’s guidance on public benefit and, in particular the supplementary guidance on charities for the advancement of religion.
b. Strategies and activities for achieving objectives
We strive to enable ordinary people to live out their faith as part of our parish community through:
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Worship and prayer: learning about the gospel; and developing their knowledge and trust in Jesus.
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Provision of pastoral care for people living in the parish
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Missionary and outreach work
To facilitate this work, it is important that we maintain the fabric of the church of St Margaret and the Church Hall.
c. Volunteers
We would like to thank those who have felt able to continue to volunteer this year in various ways to keep our parish going for the sake of others and the wider community.
Page 2
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Achievements and performance
a. Main achievements of the PCC
Worship and prayer
Worship is central to the life of St Margaret’s. The pattern of worship both within the church at home and across our schools was deeply impacted by the pandemic however the pattern of daily worship prayer and regular celebration of the Eucharist continued in different ways and involved new participants and special events using the garden altar and space and maintaining the aesthetic importance of our liturgy, including music and serving.
The church was used for baptisms, a wedding and funerals during the year in accordance with the Covid-19 restrictions.
As at 31 December 2020 there were 94 persons on the church electoral roll, 47 of whom were resident outside of the parish.
Deanery Synod
St Margaret’s has had four lay representatives on the 2017-20 Hadleigh Deanery Synod. By reason of holding these positions, they have also been members of the PCC. They have provided an important link between the parish and other parishes in the deanery.
T he Church Hall
The Church hall serves a dual purpose. Firstly, it is used for church activities and by groups associated with the church such as Edward Bear Mother and Toddler group (currently suspended due to Government restrictions). Secondly, it generates significant income from lettings. The church hall is part of our outreach to the wider community. An example of this is the One Stop Coffee Shop which is specifically aimed at mothers with children of school age (again currently suspended).
Because of maintenance expenditure in previous years, less than £1,000 was necessary for hall maintenance during 2020.
Pastoral care
Some of our people are unable to attend church due to sickness or age. Although four members of our parish are authorised to administer communion to the sick and housebound these have not been active throughout the year for personal reasons and the pandemic. We established a buddy system to ensure all members of the church community were contacted regularly and the parish priest continued to visit in subject to compliance with the restrictions. We try to ensure that all members of the church who are housebound are visited on a regular basis. When members of the congregation are hospitalised, we arrange for them to be visited by the Hospital Chaplain.
Mission and Evangelism
Helping those in need is a demonstration of faith. As a church we regularly support Christian Aid, The Children’s Society, Poppy Appeal, Water Aid, Polio Hostel Africa, Us, Indian Orphanage, HARP and Serving the Homeless. We also support the Additional Curates Society.
Many of the services held during the 2020, including those usually structured to attract those members of the community who were not regular members of our congregation, were either not available for Public Worship or could only be held with restricted numbers. Despite the Covid-19 lockdown restrictions imposed, regular masses were offered throughout the week (usually only private masses with attendance restricted to members of the congregation requesting attendance) and Sunday masses which at times available to only very restricted numbers have been live-streamed since March 2020. For this to be possible, we are very appreciative of the weekly technical support of Bob Southward and Peter Maddox
We publish a quarterly bulletin for our congregation and the wider community We see this as being part of the outreach of St Margaret’s.
Page 3
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Financial review
a. Going concern
After making appropriate enquiries, the PCC members have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is our policy to invest short term investment fund balances with the CCLA Church of England Deposit Fund. However, only very minimal interests are currently being offered by all financial institutions.
c. Summary
Total receipts to unrestricted funds were £86,907. Unrestricted voluntary donations amounted to £34,280 with a further £6,563 from Gift Aid. The freehold properties at 38 Flemming Avenue and 45 Eaton Road provided a gross income of £21,421. Due to Covid-19 restrictions, income from hall lettings dropped significantly from the previous year by some 40%. A significant proportion of this income was received from Beehive Education, who commenced a pre-school club in 2020.
The planned giving through envelopes and standing orders showed a decrease year in year of around 9% to £25,825. This was primarily due again to the restriction on the number of public services which were able to be held during the various lockdown periods. During the year we invested in an electronic giving facility. £84,055 was spent to provide the Christian ministry from St Margaret’s church.
The net result for the year was an excess of income over expenditure of £8,369. This includes a contribution of £38,010 to the Diocesan Parish Share. The Diocesan Parish Share largely provides the stipends, pensions and housing for the clergy as well as general running costs of the Diocese. In the previous 2 years, St Margaret’s was able to contribution £65,000 towards the Parish Share although these did fall short of the full quotas actually requested by the Diocese. The total Diocesan Parish Share requirement is shared out between the churches according to a formula that is based mainly on the congregation headcount and perceived ability to pay.
Overall, expenditure in respect of repairs and maintenance to church property amounted only to £1,495 and was allocated against the designated repairs and maintenance fund.
Page 4
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management
a. Constitution
The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the 1956 Parochial Church Council Measure. The PCC is a Registered/Excepted Charity (Charity No. 1130679)
b. Methods of appointment or election of PCC members
The PCC consists of our parish priest (Father David), the churchwardens, our Deanery Synod representatives and a number of representatives of the laity. All suitably qualified members of the congregation are encouraged to apply for inclusion on the electoral roll and to stand for election to the PCC. Churchwardens are elected in accordance with the provisions of the Churchwardens Measure 2001. Deanery Synod representatives and representatives of the laity are elected in accordance with the Church Representation Rules 2006 as subsequently amended.
PCC members who have served at any time from 1st January 2020 until the date this report was approved are:
Ex officio members:
Incumbent: Fr. David Wylie - Chairman
Church Wardens:
Mr Michael Bridge Appointed APCM 2020 Mrs Lorrina Cockett Appointed APCM 2020 Mr Peter Fisher (resigned APCM 2020) Mrs Anne Mills (until 2 March 2020)
Elected representatives that have served during the year:
Mrs Kate Baynes - Deanery Synod representative Mr Michael Bridge until appointment as Church warden APCM 2020 Mr Noah Cockett (resigned APCM 2020) Mrs Carol Dowsett (appointed APCM 2020) Mrs Ann Fisher - Deanery Synod representative resigned APCM 2020 Mr Peter Fisher Deanery Synod representative from APCM 2020 Mr Donald Fraser -Treasurer from APCM 2020 and Deanery Synod rep until APCM 2020 Mrs Lorna Green Mr Nick Harris (resigned APCM 2020) Mr Peter Maddox (appointed APCM 2020) Mr John May Mr Stuart Mills (Treasurer until resignation APCM 2020) Miss Tracey Searle Mr Bob Southward (resigned APCM 2020) Mr David Stowe (appointed APCM 2020)
Page 5
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
PCC MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management (continued)
c. Organisational structure and decision-making policies
The PCC is responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the church are to be spent.
Due to restrictions, the full PCC only met twice during the year with an average level of attendance of approximately 85%. Some business necessitated using e-mail communications to expedite business. Business which is of an urgent nature was dealt with by the Standing Committee.
Statement of PCC members' responsibilities
The PCC members are responsible for preparing the PCC members' 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 PCC members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the PCC members are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the PCC will continue in business.
The PCC members are responsible for keeping adequate accounting records that are sufficient to show and explain the PCC's transactions and disclose with reasonable accuracy at any time the financial position of the PCC 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 The Church of England. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of PCC members and signed on their behalf by:
................................................ Fr. David Wylie Chairman Date:
Page 6
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Independent examiner's report to the PCC members of The Parochial Church Council of St Margaret's Leigh-on-Sea ('the PCC')
I report to the members on my examination of the accounts of the PCC for the year ended 31 December 2020.
Responsibilities and basis of report
As the members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the PCC's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the PCC has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I 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 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the PCC as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the PCC members those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the PCC members as a body, for my work or for this report.
Signed: Dated: Stuart Rowson FCA
Venthams
Chartered Accountants, Millhouse, 32- 38 East Street, Rochford, Essex SS4 1DB
Page 7
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Income from: Voluntary income 3 Church activities 4 Activities for generating funds 5 Investments 6 Total income Expenditure on: Raising funds 7 Church activities 9 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2020 £ 40,843 23,568 347 22,149 86,907 76 83,005 83,081 3,826 500,985 3,826 504,811 |
Restricted funds 2020 £ 5,653 - - - 5,653 - 1,110 1,110 4,543 4,364 4,543 8,907 |
Total funds 2020 £ 46,496 23,568 347 22,149 92,560 76 84,115 84,191 8,369 505,349 8,369 513,718 |
Total funds 2019 £ 51,763 39,796 4,797 19,765 116,121 777 128,027 128,804 (12,683) 518,032 (12,683) 505,349 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 23 form part of these financial statements.
Page 8
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Fixed assets Tangible assets 13 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Funds Restricted funds 18 Unrestricted funds 18 Total funds |
400 2,933 245,622 248,955 (5,074) |
2020 £ 269,837 269,837 243,881 513,718 513,718 513,718 8,907 504,811 513,718 |
665 6,420 238,538 245,623 (10,111) |
2019 £ 269,837 |
|---|---|---|---|---|
| 269,837 235,512 |
||||
| 505,349 | ||||
| 505,349 | ||||
| 505,349 | ||||
| 4,364 500,985 |
||||
| 505,349 |
The financial statements were approved and authorised for issue by the PCC members and signed on their behalf by:
................................................
Fr. David Wylie
Date:
The notes on pages 10 to 23 form part of these financial statements.
Page 9
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. General information
St Margaret’s Church is situated in Leigh-on-Sea Essex, in the Deanery of Hadleigh in the Episcopal Area of Bradwell in the Diocese of Chelmsford. The correspondence address is St Margaret’s Vicarage, 1465 London Road, Leigh-on-Sea, Essex SS9 2SB. The parish website is at www.saintmargaretsleigh.org.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Parochial Church Council of St Margaret's Leigh-on-Sea meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the PCC has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the PCC has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the PCC, can be reliably measured.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the PCC which is the amount it 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.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 10
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the PCC to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the PCC's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the PCC; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
Freehold property - Nil Equipment and Stairlift - 20% Straight line basis
2.6 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.
Page 11
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.7 Moveable church furnishings
These are capitalised at cost and depreciated over their useful economic life other than where insufficient information is available. In this case the items are not capitalised, but all items are included in the Church's inventory in any case.
2.8 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the PCC anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.12 Financial instruments
The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Operating leases
Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.
Page 12
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.14 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the PCC members in furtherance of the general objectives of the PCC and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the PCC members for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the PCC for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted funds 2020 £ Donations 40,843 Legacies - 40,843 Donations Legacies |
Restricted funds 2020 £ 5,653 - 5,653 Unrestricted funds 2019 £ 49,763 2,000 51,763 |
Total funds 2020 £ 46,496 - |
|---|---|---|
| 46,496 | ||
| Total funds 2019 £ 49,763 2,000 |
||
| 51,763 |
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THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
4. Income from charitable activities
| Unrestricted funds 2020 £ Income from charitable activities - Church activities 23,568 Unrestricted funds 2019 £ Income from charitable activities - Church activities 39,796 5. Income from other trading activities Income from fundraising events |
Total funds 2020 £ 23,568 |
|---|---|
| Total funds 2019 £ 39,796 |
|
| Unrestricted funds 2020 £ Other Fundraising Activities 347 Unrestricted funds 2019 £ Other Fundraising Activities 1,316 May Day & Michaelmas Fairs 3,481 4,797 |
Total funds 2020 £ 347 |
|---|---|
| Total funds 2019 £ 1,316 3,481 |
|
| 4,797 |
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THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
6. Investment income
| Unrestricted funds 2020 £ Rent received 21,421 Bank Interest receivable 728 22,149 Unrestricted funds 2019 £ Rent received 18,594 Bank interest receivable 1,171 19,765 |
Total funds 2020 £ 21,421 728 |
|---|---|
| 22,149 | |
| Total funds 2019 £ 18,594 1,171 |
|
| 19,765 |
7. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2020 | 2020 | |
| £ | £ | |
| Other Fundraising activities | 76 | 76 |
Page 15
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
7. Expenditure on raising funds (continued) Costs of raising voluntary income (continued)
| Other fundraising activities May Day Fair and Christmas Market |
Unrestricted funds 2019 £ 214 563 777 |
Total funds 2019 £ 214 563 |
|---|---|---|
| 777 |
| 8. Analysis of grants Grants, Church activities Grants, Church activities 9. Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2020 £ Church activities 83,005 |
Grants to Institutions 2020 £ 60 Grants to Institutions 2019 £ 120 Restricted funds 2020 £ 1,110 |
Total funds 2020 £ 60 |
|---|---|---|
| Total funds 2019 £ 120 |
||
| Total funds 2020 £ 84,115 |
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THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
9. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2019 | 2019 | |
| £ | £ | |
| Church activities | 128,027 | 128,027 |
10. Analysis of expenditure by activities
| Church activities Church activities |
Activities undertaken directly 2020 £ 84,055 Activities undertaken directly 2019 £ 127,907 |
Grant funding of activities 2020 £ 60 Grant funding of activities 2019 £ 120 |
Total funds 2020 £ 84,115 |
|---|---|---|---|
| Total funds 2019 £ 128,027 |
Page 17
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
10. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Ministry costs: Diocesan Parish Share Minstry costs: Other ministry costs Church running and maintenance Church exterior and yard costs Church Hall running and maintenance Sanctuary expenses Music and organ running costs Printer and stationery Photocopier rental Other expenses Independent examiner's remuneration Rental property costs Ministry costs: Diocesan Parish Share Minstry costs: Other ministry costs Church running and maintenance Church Hall running and maintenance Sanctuary expenses Music and organ running costs Printer and stationery Photocopier rental Other expenses Independent examiner's remuneration Rental property costs |
Church activities 2020 £ 38,010 2,513 8,212 3,900 13,366 1,211 368 942 1,373 147 780 13,233 84,055 Church activities 2019 £ 65,000 2,678 20,259 19,235 877 1,072 1,798 1,373 4,352 780 10,483 127,907 |
Total funds 2020 £ 38,010 2,513 8,212 3,900 13,366 1,211 368 942 1,373 147 780 13,233 |
|---|---|---|
| 84,055 | ||
| Total funds 2019 £ 65,000 2,678 20,259 19,235 877 1,072 1,798 1,373 4,352 780 10,483 |
||
| 127,907 |
Page 18
THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
11. Independent examiner's remuneration
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fees payable to the PCC's independent examiner for the independent | ||
| examination of the PCC's annual accounts | 780 | 780 |
12. PCC members' remuneration and expenses
During the year, no PCC members received any remuneration or other benefits.
During the year ended 31 December 2020, PCC member expenses of £2,296 have been incurred.
13. Tangible fixed assets
| Cost or valuation At 1 January 2020 At 31 December 2020 Depreciation At 1 January 2020 At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 Stocks Consumables |
Freehold property £ 311,926 311,926 42,089 42,089 269,837 269,837 |
Plant and machinery £ 28,607 28,607 28,607 28,607 - - 2020 £ 400 |
Total £ 340,533 |
|---|---|---|---|
| 340,533 | |||
| 70,696 | |||
| 70,696 | |||
| 269,837 | |||
| 269,837 | |||
| 2019 £ 665 |
14. Stocks
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THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
15. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2020 £ 2,240 693 2,933 |
2019 £ 5,649 771 |
|---|---|---|
| 6,420 |
16. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2020 £ 651 - 4,423 5,074 |
2019 £ 1,383 1,816 6,912 |
|---|---|---|
| 10,111 |
17. Financial instruments
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 245,622 | 238,538 |
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THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
18. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Maintenance Fund Legacy Fund Vestments Youth Work General funds General Fund Total Unrestricted funds Restricted funds Restricted Fund - Lift Restricted Fund- Flowers and Flora Restricted Fund- Church Exterior Total of funds |
Balance at 1 January 2020 £ 12,669 257,640 - - 270,309 230,676 500,985 4,364 - - 4,364 505,349 |
Income £ 55 - 401 500 956 85,951 86,907 - 1,325 4,328 5,653 92,560 |
Expenditure £ (1,495) - - - (1,495) (81,586) (83,081) (224) (64) (822) (1,110) (84,191) |
Balance at 31 December 2020 £ 11,229 257,640 401 500 |
|---|---|---|---|---|
| 269,770 | ||||
| 235,041 | ||||
| 504,811 | ||||
| 4,140 1,261 3,506 |
||||
| 8,907 | ||||
| 513,718 |
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THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
18. Statement of funds (continued)
Statement of funds - prior year
| Balance at 1 January 2019 £ Unrestricted funds Designated funds Maintenance Fund 12,854 Legacy Fund 255,640 268,494 General funds General Fund 245,174 Total Unrestricted funds 513,668 Restricted funds Restricted Fund - Lift 4,364 Total of funds 518,032 19. Summary of funds Summary of funds - current year Designated funds General funds Restricted funds |
Income £ - 2,000 2,000 114,121 116,121 - 116,121 Balance at 1 January 2020 £ 270,309 230,676 4,364 505,349 |
Expenditure £ (27,185) - (27,185) (101,619) (128,804) - (128,804) Income £ 956 85,951 5,653 92,560 |
Transfers in/out £ 27,000 - 27,000 (27,000) - - - Expenditure £ (1,495) (81,586) (1,110) (84,191) |
Balance at 31 December 2019 £ 12,669 257,640 |
|---|---|---|---|---|
| 270,309 | ||||
| 230,676 | ||||
| 500,985 | ||||
| 4,364 | ||||
| 505,349 | ||||
| Balance at 31 December 2020 £ 269,770 235,041 8,907 |
||||
| 513,718 |
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THE PAROCHIAL CHURCH COUNCIL OF ST MARGARET'S LEIGH-ON-SEA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
19. Summary of funds (continued)
Summary of funds - prior year
| Designated funds General funds Restricted funds |
Balance at 1 January 2019 £ 268,494 245,174 4,364 518,032 |
Income £ 2,000 114,121 - 116,121 |
Expenditure £ (27,185) (101,619) - (128,804) |
Transfers in/out £ 27,000 (27,000) - - |
Balance at 31 December 2019 £ 270,309 230,676 4,364 |
|---|---|---|---|---|---|
| 505,349 |
20. Operating lease commitments
At 31 December 2020 the PCC had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2020 £ 1,325 1,987 3,312 |
2019 £ 1,325 3,312 |
|---|---|---|
| 4,637 |
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