**Charity number: 1130739**
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
**UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the PCC, its Trustees and advisers**|1 - 2|
|**Trustees' report**|3 - 7|
|**Independent examiner's report**|8|
|**Statement of financial activities**|9|
|**Balance sheet**|10|
|**Notes to the financial statements**|11 - 33|
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE PCC, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Incumbent**|The Revd Canon John Weetman(Chairman)|
|---|---|
|**Curate**|The Revd Dr Jake Belder(until August 2020)|
|**Associate Priest**|The Revd Neil Woodall|
|**Associate Priest**|The Revd Dr Julie Watson|
|**Church Wardens**|Elaine Exley|
||Sue Tagert|
|**Deanery Synod**|Karen Banks|
|**Representatives**|Sue Tagert|
||Christopher Bywell|
|**Elected Members**|Katherine Robson(until 25 October 2020)|
||Mavyne Twineham(until 25 October 2020)|
||Paula Dunn|
||Roger Riley|
||Paul Simpson|
||Frazer Stewart|
||John Watkins|
||Hazel Horsman(until 25 October 2020)|
||Stewart Skilbeck|
||Rebecca Watkins(from 25 October 2020)|
||TerryCordery (from 25 October 2020)|
|**Officers and Attendees**|Jennifer Cooke,Secretary|
||Roger Riley,Treasurer|
||Roger Tebbet,Director of Music(until 28 February2020)|
||Valerie Hargreaves,SafeguardingOfficer|
||John Englehart,Chairman,SelbyAbbeyTrust|
|**Charity name**
The Parochial Church Council of the Ecclesiastical Parish of Selby St Mary
**Charity registered number**
1130739
**Principal office**
Selby Abbey
The Crescent
Selby
North Yorkshire
YO8 4PU
**Bankers**
HSBC
Market Place
Selby
North Yorkshire
YO8 4PA||
Page 1
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE PCC, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent examiner**
Jane Marshall FCA DChA BHP LLP Rievaulx House 1 St Mary's Court Blossom Street York YO24 1AH
Page 2
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
The members of the PCC present their annual report together with the unaudited financial statements of The Parochial Church Council of the Ecclesiastical Parish of Selby St Mary (the PCC) for the ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the Charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland published in October 2019.
The PCC also trades under the names The Parochial Church Council of the Ecclesiastical Parish of Selby St Mary.
## _**Policies, objectives and achievements**_
## **a. Background**
Selby Abbey has the responsibility, with the incumbent, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, social and spiritual. Their responsibilities include the buildings at Selby Abbey, St Richard’s Church Centre on Barwic Parade and the Hawdon Institute.
When planning their activities for the year, the members of the PCC have considered the Charity Commission's guidance on public benefit, including the guidance 'Public benefit: running a charity (PB2)' and, in particular, the specific guidance on charities for the advancement of religion. The public activities of the PCC are:
- The provision of regular public acts of worship open to members of the Church and non-members alike.
- The provision of sacred space for prayer and contemplation.
- The teaching of Christianity through sermons and small groups.
- Pastoral work including visiting the sick and bereaved.
- The provision of children's and youth group and a range of meetings with a Christian ethos.
- The provision of space for local organisations and charities to hold concerts and events which are sympathetic to the ethos of the Church.
- Promoting the whole mission of the Church (and aiding social cohesion) through activities for older people, parents and toddlers.
## **b. Church attendance**
There are 155 parishioners on the Church Electoral Roll.
Attendance figures are as below: Average attendance on a ‘typical’ Sunday morning : 61 adults and 5 children (excluding Baptisms and Special Services and counting people only once) Average attendance on Mondays : 8 adults Average attendance on Thursdays : 11 adults There were 7 weddings; 10 baptisms; 23 funerals in Church and 7 funerals at the crematorium/graveside.
Page 3
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Policies, objectives and achievements (continued)**
## **c. Review of the year**
After a very full year in 2019, during which we celebrated our 950th anniversary, 2020 unexpectedly proved to be one in which many of our usual events, activities and even services were curtailed due to the global COVID19 pandemic. We were already adopting strict social distancing and hygiene practices and wondering how they were going to affect our services and activities when the message came from the Archbishops on the 17 March that all public worship would cease for the foreseeable future. The shock of this was only a foretaste of what was to come and not long after we were told to close all churches even for private prayer and clergy themselves were told to work from home, except for funeral services (only at the graveside or the crematorium).
As the UK Government (and the Church of England) began to ease this initial period of ‘lockdown’, the vicar returned to the Abbey to say Morning Prayer on Ascension Day; the Abbey re-opened for funerals and private prayer as soon as was allowed on 15 June; for weddings, baptisms, services and visits as soon as these were allowed on 5 July; and for other activities as and when permitted as soon as these things became possible – albeit with strict restrictions imposed in each case. As the autumn progressed further restrictions returned and during November no services were permitted although we were able to stay open for prayer each day. Public worship resumed in the Abbey in December and Christmas was celebrated, albeit by much smaller (and quieter, as no congregational singing was allowed) numbers than usual.
The PCC only met formally on five occasions during the year due to the COVID19 restrictions, with an average attendance of fourteen. As well as the recurring topics, such as the Fabric, Finance, Children and Youth Activities, Deanery Synod/Churches Together in Selby, Reports from Sub Committees and Safeguarding, discussions and reports took place in relation to other activities as detailed in this report.
The Selby Abbey Trust continued to support the Abbey in respect of the Fabric and early in 2020 it was reported that the target for Phase I was £950,000 of which £860,000 was in hand or pledged and that a start on these works was intended later in the year. At the September meeting the PCC were advised that Jeremy Gaskell had retired as Appeals Director after more than twenty years.
One of the activities that had been severely affected by COVID19 was the Youth Group and After 8 Activity. At the September meeting members were advised that they were hoping to restart in late September/early October 2020 and that risk assessments and proposals of timings/venues etc were being considered.
The Abbey’s Annual General Meeting which should have been held in April 2020 had to be postponed and was subsequently held on the 25 October 2020.
Church Council members record their appreciation and thanks to the members of the Abbey Choir and the Tower Bell Ringing Team as well as to the Clergy, Administrator, Director of Music, Churchwardens, Vergers and to Roger Riley, the Treasurer, and to the many volunteers for all their hard work during the year in caring for the Abbey, its congregation and visitors, with special thanks to those new volunteers who came forward to ‘man’ the south door during the lockdown restrictions. The Abbey’s Director of Music, Dr Roger Tebbet, had resigned with effect from the 28 February 2020 and a presentation was made to him and Lynne on his last Sunday. An advertisement for his replacement had been put in hand in January 2020 with interviews planned for the beginning of March. Unfortunately, due to COVID19, these had to be delayed. The Revd. Jake Belder left the Abbey in August 2020 to take up a position in Pocklington, where he was to start on the 22 September 2020.
Page 4
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Policies, objectives and achievements (continued)**
## _**Achievements and performance**_
## **a. Review of activities**
Total incoming resources for the year ending 31 December 2020 were £299,213 (2019 £304,968) and total resources expended were £265,569 (2019 £282,438).
After gains of £9,364 (2019 £30,030) the net movement in funds, in the year to 31 December 2020 was a surplus of £43,008 (2019 £52,560). Total funds carried forward were £548,609 of which £172,973 are unrestricted, £103,833 are restricted and £271,803 are endowment funds.
The largest single source of income in the year to 31 December 2020 was £36,700 (2019 £32,456) from Selby Abbey Trust. Other elements of voluntary income this year were Heritage Emergency Fund grant of £32,300, Culture Recovery Fund grant of £34,920 and £50,310 from regular donors, offering envelopes, collections and offertory boxes (2019 £88,205). Various activities for generating funds, including the gift shop, visitor refreshments, fayres, concerts and bric–a-brac, generated income of £20,905 (2019 £61,613).
The resources expended in 2020 were largely routine with £50,004 (2019 £45,000) being the largest single item, this being our Freewill Offering towards the Diocese running costs.
## **b. Investment policy**
Except for endowment funds that are held in a range of investments, including equities, fixed interest securities, unit trusts and similar investments, it is the PCC’s continued policy to invest its financial reserves with the CBF Church of England Funds.
## _**Financial review**_
## **a. Going concern**
As part of their assessment of the going concern basis of preparation, the trustees have considered the impact of the COVID-19 pandemic on the charity's activities, as well as the wider economy.
Given the level of assets and reserves, the members of the PCC 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 the policy of the PCC to hold free reserves equating to approximately 3 months of operational expenditure which is around £65,000. Free reserves at 31 December 2020 were £94,798 (2019 £122,082), which is above this level. The PCC consider it appropriate to hold reserves in excess of the target level due to the uncertainty of the PCC's income streams.
Page 5
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Financial review (continued)**
## **c. Risk management**
The members of the PCC have assessed the major risks to which the PCC is exposed, in particular those related to the operations and finances of the PCC, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## _**Structure, governance and management**_
## **a. Registration and governing document**
The registration of The Parochial Church Council of the Ecclesiastical Parish of Selby St Mary, registration number 1130739, in accordance with the Charities Act took place on 27 July 2009.
The PCC is governed according to the Parochial Church Council (Powers) Measure 1956 as amended and the Church Representation Rules.
## **b. Membership**
Trustees and members of the PCC are either ex officio or elected by the Annual Parish Church meeting in accordance with the Church Representation Rules.
## **c. Sub-committee**
The routine day to day management of the parish affairs were delegated to a Standing Committee of the PCC which met between full meetings of the PCC and comprised the Clergy, Churchwardens, one nominated representative of the ordinary PCC members, Treasurer and Secretary. It has the power to transact the business of the PCC subject to any direction given by the PCC.
Page 6
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Statement of Trustees' responsibilities**
The members of the PCC are responsible for preparing the Trustees' 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 of the PCC to prepare financial statements for each financial 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 members of the PCC are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the PCC will continue in business.
The members of the PCC 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 trust deed. 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 members of the PCC and signed on their behalf by:
## John C Weetman
John C Weetman (May 26, 2021 15:27 GMT+1)
## **The Revd Canon John Weetman**
Vicar and PCC Chairman
Date: 24 May 2021
Page 7
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent examiner's report to the Trustees of Selby Abbey Parochial Church Council ('the PCC')**
I report to the charity Trustees on my examination of the accounts of the PCC for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the Trustees 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**
Since the PCC's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities preparing their acounts 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 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 January 2015. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the PCC as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Signed: Jane Marshall (Jun 1, 2021 15:36 GMT+1) Dated: Jun 1, 2021
Jane Marshall FCA DChA
## **BHP LLP**
Rievaulx House 1 St Mary's Court Blossom Street York Y024 1AH
Page 8
**SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income and**
**endowments from:**
Voluntary income
4
Charitable activities
5
Investments
6
Other income
7
**Total income and**
**endowments**
**Expenditure on:**
Raising funds
8
Charitable activities
9
**Total expenditure**
Net gains on investments
**Net (expenditure)/**
**income before transfers**
Transfers between funds
19
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought
forward
Net movement in funds
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**2020**
**£**
**104,855**
**20,570**
**482**
**10,826**
**136,733**
**7,850**
**161,105**
**168,955**
**-**
**(32,222)**
**16,928**
**(15,294)**
**188,267**
**(15,294)**
**172,973**|**Restricted**
**funds**
**2020**
**£**
**153,332**
**335**
**7,167**
**1,646**
**162,480**
**1,994**
**94,620**
**96,614**
**-**
**65,866**
**(16,928)**
**48,938**
**54,895**
**48,938**
**103,833**|**Endowment**
**funds**
**2020**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**9,364**
**9,364**
**-**
**9,364**
**262,439**
**9,364**
**271,803**|**Total**
**funds**
**2020**
**£**
**258,187**
**20,905**
**7,649**
**12,472**
**299,213**
**9,844**
**255,725**
**265,569**
**9,364**
**43,008**
**-**
**43,008**
**505,601**
**43,008**
**548,609**|Total
funds
2019
£
209,583
61,613
8,196
25,576|
|---|---|---|---|---|---|
||||||304,968|
||||||22,355
260,083|
||||||282,438|
||||||30,030|
||||||52,560
-|
|||||||
||||||52,560|
||||||453,041
52,560|
||||||505,601|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 33 form part of these financial statements.
Page 9
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Tangible assets
14
Investments
15
**Current assets**
Stocks
16
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within one year
18
**Net current assets**
**Total net assets**
**Charity funds**
Endowment funds
19
Restricted funds
19
Unrestricted funds
19
**Total funds**|**8,172**
**41,241**
**168,186**
**217,599**
**(9,573)**|**2020**
**£**
**69,780**
**270,803**
**340,583**
**208,026**
**548,609**
**271,803**
**103,833**
**172,973**
**548,609**|6,799
27,203
162,925
196,927
(9,099)|2019
£
56,334
261,439|
|---|---|---|---|---|
|||||317,773
187,828|
||||||
|||||505,601|
|||||262,439
54,895
188,267|
||||||
|||||505,601|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## John C Weetman
John C Weetman (May 26, 2021 15:27 GMT+1)
## **The Revd Canon John Weetman**
Vicar and PCC Chairman
## Date: 24 May 2021
The notes on pages 11 to 33 form part of these financial statements.
Page 10
**SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. General information**
Selby Abbey PCC is an unincorporated charity registered in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and activities are set out on page 3 of these financial statements and include the promotion of the ecclesiastical parish, the whole mission of the church, pastoral, social and spiritual.
## **2. Accounting policies**
## _**2.1 Basis of preparation of financial statements**_
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the 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 issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 Account 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 issued 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 financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently aplied to all years presented unless otherwise stated.
## _**2.2 Going concern**_
As part of their assessment of the going concern basis of preparation, the trustees have considered the impact of COVID-19 on the PCC's activities and workforce, as well as the wider economy and on the forecasted income for the year to 31 December 2021. They have also informally considered the period up to 12 months from the signing of the accounts. Whilst it is not considered practical to accurately assess the duration and extent of the disruption, the trustees are confident that they have in place plans to deal with any financial losses that may arise. The possible material impacts on the charity include a drop in visitor donations, with the Abbey having to close to the public for a significant period. The PCC has been awarded grants from the Lottery Heritage Emergency Fund, Culture Recovery Fund and JRS. The grants will help make the Abbey COVID safe as well as covering some of the running costs. The PCC also has sufficient reserves to cover the current level of expenditure for several months ahead.
At the time of approving the financial statements, the trustees 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.
Page 11
**SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## _**2.3 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.
For legacies, entitlement is taken as the earlier of the date on which either: the PCC is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the PCC has been notified of the executor's intention to make a distribution. Where legacies have been notified to the PCC, or the PCC is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## _**2.4 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.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the PCC's objectives.
## _**2.5 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 bank.
Page 12
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## _**2.6 Tangible fixed assets and depreciation**_
Consecrated and beneficed property is excluded from the accounts by section 10(2)(a) of the Charities Act 2011.
No value is placed on moveable church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. These items are listed in the Church inventory, which is kept by the Churchwardens of each parish church. All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the statement of financial activities.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Plant and machinery Straight line basis over 5 years
Freehold property has not been depreciated as it is deemed that both the annual charge and the accumulated depreciation are immaterial to the financial statements, due to the asset having a long remaining residual life, and a high currently estimated residual value.
Freehold land has not been depreciated.
## _**2.7 Investments**_
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
## _**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.
## _**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.
Page 13
**SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## _**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.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## _**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.
## _**2.13 Employee benefits**_
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The PCC operates a defined contribution pension scheme and the pension charge represents the amounts payable by the PCC to the fund in respect of the year.
Page 14
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **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 Trustees 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 Trustees 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.
Endowment funds are funds, the capital of which must be retained either permanently or at the PCC's discretion; the income dervied from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established.
Investment income, gains and losses are allocated to the appropriate fund.
## _**3. Critical accounting estimates and areas of judgment**_
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The PCC makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgment:
The main assumption concerning the future of the PCC is that the donations and grants will continue to be sufficent to meet the costs of salaries and maintenance of the Abbey. The annual budget, approved by the PCC, includes sums necessary for covering these costs.
Page 15
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **4. Voluntary income**
|Donors
Grants and other income
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
74,301
30,554
104,855
138,821|**Restricted**
**funds**
**2020**
**£**
48,094
105,238
153,332
70,762|**Total**
**funds**
**2020**
**£**
**122,395**
**135,792**
**258,187**
209,583|Total
funds
2019
£
134,958
74,625|
|---|---|---|---|---|
|||||209,583|
||||||
## **Analysis of incoming resources from donors:**
|Regular donors and offering envelopes
Collections
Offertory boxes
Donations
Legacies
Flower fund donations and fees
Book of remembrance donations
Votive candles
Tax recovered
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
33,652
8,845
5,641
9,423
3,229
-
325
3,476
9,710
74,301
123,750|**Restricted**
**funds**
**2020**
**£**
-
2,172
-
25,922
20,000
-
-
-
-
48,094
11,208|**Total**
**funds**
**2020**
**£**
**33,652**
**11,017**
**5,641**
**35,345**
**23,229**
**-**
**325**
**3,476**
**9,710**
**122,395**
134,958|Total
funds
2019
£
36,721
38,367
13,117
24,811
-
545
425
7,787
13,185|
|---|---|---|---|---|
|||||134,958|
||||||
Page 16
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Analysis of incoming resources from grants and other income:**
|Selby Abbey Trust
Listed Places of Worship
Selby United Charities
Clock winding and lighting
Abbey Friends
Selby Town Council
Selby Times
Heritage Lottery Fund
Heritage Emergency Fund
Culture Recovery Fund
Coronavirus Job Retention Scheme
Total 2019
**Income from charitable activities**
Activities for generating funds
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
-
-
11,262
2,500
-
-
-
-
-
-
16,792
30,554
15,071
**Unrestricted**
**funds**
**2020**
**£**
20,570
60,713|**Restricted**
**funds**
**2020**
**£**
36,700
1,318
-
-
-
-
-
-
32,300
34,920
-
105,238
59,554
**Restricted**
**funds**
**2020**
**£**
335
900|**Total**
**funds**
**2020**
**£**
**36,700**
**1,318**
**11,262**
**2,500**
**-**
**-**
**-**
**-**
**32,300**
**34,920**
**16,792**
**135,792**
74,625
**Total**
**funds**
**2020**
**£**
**20,905**
61,613|Total
funds
2019
£
32,456
2,248
11,071
2,500
1,500
950
1,400
22,500
-
-
-|
|---|---|---|---|---|
|||||74,625|
|||||Total
funds
2019
£
61,613|
||||||
## **5. Income from charitable activities**
Page 17
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Activities for generating funds:**
|Shop
Visitor refreshments
Bric-a-brac
Fayres and fundraising
Bookings and concerts
Hawdon Institute
St Richards Centre
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
8,438
5,502
430
5,950
250
-
-
20,570
60,713|**Restricted**
**funds**
**2020**
**£**
-
-
-
-
-
335
-
335
900|**Total**
**funds**
**2020**
**£**
**8,438**
**5,502**
**430**
**5,950**
**250**
**335**
**-**
**20,905**
61,613|Total
funds
2019
£
20,177
17,855
4,014
13,957
2,640
900
2,070|
|---|---|---|---|---|
|||||61,613|
||||||
## **6. Investment income**
|Income from listed investments
Interest receivable
Other investment income
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
-
218
264
482
495|**Restricted**
**funds**
**2020**
**£**
7,093
74
-
7,167
7,701|**Total**
**funds**
**2020**
**£**
**7,093**
**292**
**264**
**7,649**
8,196|Total
funds
2019
£
7,680
384
132|
|---|---|---|---|---|
|||||8,196|
||||||
Page 18
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7. Other income**
|Net wedding and funeral fees
Young persons activities
Photo shoots
Insurance claim
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
10,206
70
550
-
10,826
25,576|**Restricted**
**funds**
**2020**
**£**
-
-
-
1,646
1,646
-|**Total**
**funds**
**2020**
**£**
**10,206**
**70**
**550**
**1,646**
**12,472**
25,576|Total
funds
2019
£
23,315
2,261
-
-|
|---|---|---|---|---|
|||||25,576|
||||||
## **8. Expenditure on raising funds** _**Costs of raising voluntary income**_
|Publicity and tourism
Visitor refreshments and concerts
Shop and fayre expenses
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
631
1,814
5,405
7,850
22,355|**Restricted**
**funds**
**2020**
**£**
1,994
-
-
1,994
-|**Total**
**funds**
**2020**
**£**
**2,625**
**1,814**
**5,405**
**9,844**
22,355|Total
funds
2019
£
1,450
5,352
15,553|
|---|---|---|---|---|
|||||22,355|
||||||
Page 19
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **9. Analysis of expenditure on charitable activities**
## _**Summary by fund type**_
|Church activities (see note 10)
Accountancy fees
Grants and donations
Total 2019|**Unrestricted**
**funds**
**2020**
**£**
154,712
6,393
-
161,105
190,462|**Restricted**
**funds**
**2020**
**£**
92,448
-
2,172
94,620
69,621|**Total**
**funds**
**2020**
**£**
**247,160**
**6,393**
**2,172**
**255,725**
260,083|Total
funds
2019
£
245,895
4,380
9,808|
|---|---|---|---|---|
|||||260,083|
||||||
## **10. Church activities**
||**Unrestricted**|**Restricted**|**Total**|Total|
|---|---|---|---|---|
||**funds**|**funds**|**funds**|funds|
||**2020**|**2020**|**2020**|2019|
||**£**|**£**|**£**|£|
|**_Direct costs (Ministry)_**|||||
|Free Will Offering|50,004|-|**50,004**|45,000|
|Ministry and vicarage expenses|5,088|-|**5,088**|4,608|
|**_Direct costs (Abbey)_**|||||
|Heat and light|12,001|7,048|**19,049**|25,699|
|Water rates|640|598|**1,238**|1,162|
|Insurance|14,953|8,351|**23,304**|22,352|
|Repairs and maintenance|11,452|3,922|**15,374**|12,302|
|Vergers salary and NICs|20,975|7,350|**28,325**|29,950|
|**_Direct costs (St Richards)_**|||||
|Heat and light|449|-|**449**|794|
|Water rates|108|-|**108**|104|
|Repairs and cleaning|899|322|**1,221**|1,359|
|**_Direct costs (Hawdon)_**|||||
|Heat and light|-|560|**560**|986|
|Water rates|-|226|**226**|230|
|Insurance|-|1,750|**1,750**|1,750|
Page 20
**SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
|Repairs and cleaning
**_Direct costs (restoration and improvement)_**
Restoration and major repairs
Carillon restoration
Abbey roof
Abbey roof alarm
**_Direct costs (other)_**
Selby 950th Anniversary concert
Organists fees and music costs
Young persons activities
Altar requisites and vestments
Flowers
Salaries and NICs
Office costs
Irrecoverable input VAT
Depreciation
Total 2019|-
-
-
-
9,983
-
3,676
911
962
203
8,325
2,380
7,082
4,621
154,712
186,082|3,252
15,943
363
18,865
2,000
-
-
-
-
-
15,863
2,027
4,008
-
92,448
59,813|**3,252**
**15,943**
**363**
**18,865**
**11,983**
**-**
**3,676**
**911**
**962**
**203**
**24,188**
**4,407**
**11,090**
**4,621**
**247,160**
245,895|2,407
25,868
6,136
-
-
15,222
13,688
3,207
1,603
774
14,087
4,668
10,931
1,008|
|---|---|---|---|---|
|||||245,895|
||||||
## **11. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £1,300 (2019 - £1,125), and accountancy fees of £5,093 (2019 - £3,255).
Page 21
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. Staff costs**
|**2020**
**£**
Wages and salaries
**56,268**
Employer's pension
**1,080**
**57,348**
The average number of persons employed by the PCC during the year was as follows:
**2020**
**No.**
Vergers and other support staff
**7**|2019
£
47,973
758|
|---|---|
|||
||48,731|
||2019
No.
6|
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel received no employee benefits (2019 - £NIL).
The PCC considers its key management personnel comprises the Incumbent and the Church Wardens.
## **13. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 December 2020, expenses totaling £1,344 were reimbursed or paid directly to 3 Trustees (2019 - £3,071 to 5 Trustees) for costs paid on behalf of the Abbey.
Page 22
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **14. Tangible fixed assets**
|**_Cost or valuation_**
At 1 January 2020
Additions
At 31 December 2020
**_Depreciation_**
At 1 January 2020
Charge for the year
At 31 December 2020
**_Net book value_**
At 31 December 2020
At 31 December 2019|**Freehold**
**property**
**£**
**53,000**
**-**
**53,000**
**-**
**-**
**-**
**53,000**
53,000|**Plant and**
**machinery**
**£**
**14,003**
**18,067**
**32,070**
**10,669**
**4,621**
**15,290**
**16,780**
3,334|**Total**
**£**
**67,003**
**18,067**|
|---|---|---|---|
||||**85,070**|
||||**10,669**
**4,621**|
||||**15,290**|
||||**69,780**|
||||56,334|
Page 23
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **15. Fixed asset investments**
|**_Cost or valuation_**
At 1 January 2020
Additions
Disposals
Revaluations
Movement in cash balances
**_At 31 December 2020_**
**_Net book value_**
**_At 31 December 2020_**
_At 31 December 2019_|**Listed**
**investments**
**£**
**250,417**
**33,003**
**(31,243)**
**13,089**
**-**
**265,266**
**265,266**
250,417|**Other**
**investments**
**£**
**11,022**
**-**
**-**
**-**
**(5,485)**
**5,537**
**5,537**
11,022|**Total**
**£**
**261,439**
**33,003**
**(31,243)**
**13,089**
**(5,485)**|
|---|---|---|---|
||||**270,803**|
||||**270,803**|
||||261,439|
The historic cost of investments as at 31 December 2020 was £190,231 (2019: £192,952). All fixed asset investments are held in the UK.
## **Details of holdings (excluding cash) comprising of at least 5% of the value of investments**
|CBF CEIF Income
Guinness Asset Management Global Equity Income
Veritas Asset Management Global Equity Income
T Bailey Fund Services Ltd
Scottish Mortgage Income Trust
Sarasin Fund Management
Link Fund Solutions Ltd
International Public Partnerships|**2020**
**£**
**34,869**
**24,189**
**19,655**
**18,697**
**18,210**
**15,949**
**14,210**
**14,001**
**159,780**|
|---|---|
Page 24
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **16. Stocks**
||**2020**|2019|
|---|---|---|
||**£**|£|
|Shop stock|**8,172**|6,799|
## **17. Debtors**
|Trade debtors
Other debtors
Adams Memorial Trust|**2020**
**£**
**494**
**22,315**
**18,432**
**41,241**|2019
£
-
14,948
12,255|
|---|---|---|
||||
|||27,203|
## **18. Creditors: Amounts falling due within one year**
|Trade creditors
Other creditors
Accruals and deferred income|**2020**
**£**
**1,783**
**166**
**7,624**
**9,573**|2019
£
-
532
8,567|
|---|---|---|
||||
|||9,099|
Page 25
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **19. Statement of funds**
## **Statement of funds - current year**
|**_Unrestricted_**
**_funds_**
**_Designated funds_**
Property
St Richard's Fund
Young Persons
Flowers
**_General funds_**
General
**_Total Unrestricted_**
**_funds_**
**_Endowment funds_**
Adams Memorial
Trust
Hawdon Institute
Aimee V Scott|**Balance at 1**
**January 2020**
**£**
**53,000**
**9,851**
**-**
**-**
**62,851**
**125,416**
**188,267**
**228,887**
**32,552**
**1,000**
**262,439**|**Income**
**£**
**-**
**-**
**70**
**-**
**70**
**136,663**
**136,733**
**-**
**-**
**-**
**-**|**Expenditure**
**£**
**-**
**(1,456)**
**(911)**
**(203)**
**(2,570)**
**(166,385)**
**(168,955)**
**-**
**-**
**-**
**-**|**Transfers**
**in/out**
**£**
**-**
**-**
**841**
**203**
**1,044**
**15,884**
**16,928**
**-**
**-**
**-**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**7,047**
**2,317**
**-**
**9,364**|**Balance at 31**
**December 2020**
**£**
**53,000**
**8,395**
**-**
**-**|
|---|---|---|---|---|---|---|
|||||||**61,395**|
|||||||**111,578**|
|||||||**172,973**|
|||||||**235,934**
**34,869**
**1,000**|
|||||||**271,803**|
Page 26
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **19. Statement of funds (continued)**
## _**Statement of funds - current year (continued)**_
|**_Restricted funds_**
Fabric Fund
Fabric (Adams
Memorial)
Support Fund
Sundry Donations
and Collections
Hawdon Institute
Roof Appeal
Building Capacity
HEF Grant
CRF Grant
Furniture Fund
Roof alarm
War Memorial
window
Summer concerts
**_Total of funds_**|**Balance at 1**
**January 2020**
**£**
**18,243**
**12,255**
**2,848**
**-**
**-**
**1,400**
**20,149**
**-**
**-**
**-**
**-**
**-**
**-**
**54,895**
**505,601**|**Income**
**£**
**28,019**
**6,177**
**12**
**2,172**
**1,312**
**30,500**
**-**
**32,300**
**34,920**
**20,760**
**2,000**
**2,246**
**2,062**
**162,480**
**299,213**|**Expenditure**
**£**
**(18,083)**
**-**
**-**
**(2,172)**
**(5,144)**
**(20,940)**
**(14,956)**
**(22,955)**
**(8,118)**
**-**
**(2,000)**
**(2,246)**
**-**
**(96,614)**
**(265,569)**|**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**-**
**3,832**
**-**
**-**
**-**
**-**
**(20,760)**
**-**
**-**
**-**
**(16,928)**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**9,364**|**Balance at 31**
**December 2020**
**£**
**28,179**
**18,432**
**2,860**
**-**
**-**
**10,960**
**5,193**
**9,345**
**26,802**
**-**
**-**
**-**
**2,062**|
|---|---|---|---|---|---|---|
|||||||**103,833**|
|||||||**548,609**|
Page 27
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **19. Statement of funds (continued)**
|**Statement of funds (continued)**||||||
|---|---|---|---|---|---|
|**Statement of funds - prior year**
Balance at
1 January
2019
£
**_Unrestricted_**
**_funds_**
**_Designated funds_**
Property
53,000
St Richard's Fund
10,038
Young Persons
-
Flowers
-
63,038
**_General funds_**
General
113,049
**_Total Unrestricted_**
**_funds_**
176,087
**_Endowment funds_**
Adams Memorial
Trust
203,925
Hawdon Institute
27,484
Aimee V Scott
1,000
232,409|Income
£
-
2,070
2,261
545
4,876
220,729
225,605
-
-
-
-|Expenditure
£
-
(2,257)
(3,207)
(774)
(6,238)
(206,579)
(212,817)
-
-
-
-|Transfers
in/out
£
-
-
946
229
1,175
(1,783)
(608)
-
-
-
-|Gains/
(Losses)
£
-
-
-
-
-
-
-
24,962
5,068
-
30,030|Balance at
31 December
2019
£
53,000
9,851
-
-|
|**_Unrestricted_**
**_funds_**
**_Designated funds_**
Property
St Richard's Fund
Young Persons
Flowers
**_General funds_**
General
**_Total Unrestricted_**
**_funds_**
**_Endowment funds_**
Adams Memorial
Trust
Hawdon Institute
Aimee V Scott||||||
||||||62,851|
||||||125,416|
||||||188,267|
||||||228,887
32,552
1,000|
||||||262,439|
Page 28
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **19. Statement of funds (continued)**
## _**Statement of funds - prior year (continued)**_
|**_Restricted funds_**
Fabric Fund
Fabric (Adams
Memorial)
Support Fund
Sundry Donations
and Collections
Hawdon Institute
Roof Appeal
Building Capacity
950 Celebrations
Coffee shop
furniture
**_Total of funds_**|Balance at
1 January
2019
£
36,194
5,524
2,827
-
-
-
-
-
-
44,545
453,041|Income
£
17,248
6,731
21
9,808
1,849
1,400
22,500
18,406
1,400
79,363
304,968|Expenditure
£
(35,199)
-
-
(9,808)
(5,373)
-
(2,351)
(16,890)
-
(69,621)
(282,438)|Transfers
in/out
£
-
-
-
-
3,524
-
-
(1,516)
(1,400)
608
-|Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
30,030|Balance at
31 December
2019
£
18,243
12,255
2,848
-
-
1,400
20,149
-
-|
|---|---|---|---|---|---|---|
|||||||54,895|
|||||||505,601|
## **Designated funds**
The Property Fund represents the freehold property owned by the PCC.
The St Richard's Fund consists of funds set aside specifically for the general use and upkeep of St Richard's Chapel.
The Young Persons Fund consists of funds specifically for the general use towards our mission to Children and Young People.
The Flowers Fund consists of funds set aside specifically for the purchasing and arranging of flowers.
Page 29
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Endowment funds**
Gains and losses on the endowment funds in the year includes realised losses of £3,725 and unrealised gains of £13,089.
In accordance with the Trust Deed, the income from the Adams Memorial Trust is to be retained by the York Diocesan Board of Finance on behalf of the PCC. Grants may be made from the trust income if they are supported by documentary evidence showing a requirement for the repair or refurbishment of the Abbey's structure.
Income from the Hawdon Institute endowment is paid directly into the PCC's bank account to cover expenditure on the Institute.
Income from the Amiee V Scott bequest is paid directly into the PCC's bank account for general purposes; the capital is in a Central Board of Finance deposit account.
## **Restricted income funds**
The Fabric Fund consists of funds set aside specifically for the maintenance, refurbishment and general repair of the Abbey and associated buildings.
The Fabric (Adams Memorial) Fund consists of funds accumulated from the Adams Memorial Trust to be used specifically for the maintenance, refurbishment and general repair of the Abbey and associated buildings.
The Support Fund was created as a vehicle to receive donations to establish a capital sum for the future support of the Ministry in the Abbey parish.
Sundry donations and collections relate to amounts received from funeral collections which are then paid out at the request of the bereaved families.
The Hawdon Institute Fund consists of funds intended for the use of the Hawdon Institute.
The Roof Appeal has been created to receive funds dedicated to the repair and maintenance of the Abbey's roofs and gutters.
The Building Capacity Fund represents a grant received from the Heritage Lottery Fund to employ a Community Engagement Co-ordinator and promote the Abbey across Selby's community.
HEF grant has been awarded to the PCC in response to the COVID-19 pandemic to cover emergency costs.
The CRF grant has been awarded to the PCC in response to the COVID-19 pandemic to support the PCC during the six month period to 31 March 2021.
The furniture fund was created following receipt of a donation to purchase stacking chairs for the Abbey.
The roof alarm fund relates to an amount received for the purchase of a security system for the Abbey roof.
Following a break-in, donations and an insurance claim were received in order to repair the damaged War Memorial window panel.
The summer concerts fund represents donations towards holding a summer concert in 2020. Due to the COVID 19 pandemic, this has been postponed to 2021.
Page 30
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Fund transfers**
A transfer has been made from the furniture fund to general funds following the purchase of stacking chairs for the Abbey which are included in fixed assets.
Transfers have also been made from general funds of £841 to the designated Young Persons Fund, £203 to the designated Flowers Fund and £3,832 to the restricted Hawdon Institute Fund to cover deficits on these funds.
## **20. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Endowment funds
Restricted funds|**Balance at 1**
**January 2020**
**£**
**62,851**
**125,416**
**262,439**
**54,895**
**505,601**
**- prior year**
Balance at
1 January
2019
£
63,038
113,049
232,409
44,545
453,041|**Income**
**£**
**70**
**136,663**
**-**
**162,480**
**299,213**
Income
£
4,876
220,729
-
79,363
304,968|**Expenditure**
**£**
**(2,570)**
**(166,385)**
**-**
**(96,614)**
**(265,569)**
Expenditure
£
(6,238)
(206,579)
-
(69,621)
(282,438)|**Transfers**
**in/out**
**£**
**1,044**
**15,884**
**-**
**(16,928)**
**-**
Transfers
in/out
£
1,175
(1,783)
-
608
-|**Gains/**
**(Losses)**
**£**
**-**
**-**
**9,364**
**-**
**9,364**
Gains/
(Losses)
£
-
-
30,030
-
30,030|**Balance at 31**
**December 2020**
**£**
**61,395**
**111,578**
**271,803**
**103,833**|
|---|---|---|---|---|---|---|
|||||||**548,609**|
|||||||Balance at
31 December
2019
£
62,851
125,416
262,439
54,895|
|**Summary of funds**|||||||
|Designated funds
General funds
Endowment funds
Restricted funds|||||||
|||||||505,601|
Page 31
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **21. Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|**Unrestricted**
**funds**
**2020**
**£**
69,780
-
112,724
(9,531)
172,973|**Restricted**
**funds**
**2020**
**£**
-
-
103,875
(42)
103,833|**Endowment**
**funds**
**2020**
**£**
-
270,803
1,000
-
271,803|**Total**
**funds**
**2020**
**£**
**69,780**
**270,803**
**217,599**
**(9,573)**
**548,609**|
|---|---|---|---|---|
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2019
£
56,334
-
141,360
(9,427)
188,267|Restricted
funds
2019
£
-
-
54,567
328
54,895|Endowment
funds
2019
£
-
261,439
1,000
-
262,439|Total
funds
2019
£
56,334
261,439
196,927
(9,099)
505,601|
|---|---|---|---|---|
Page 32
## **SELBY ABBEY PAROCHIAL CHURCH COUNCIL**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **22. Related party transactions**
During the year the PCC received a donation of £36,700 from Selby Abbey Trust (2019 - £32,456). The Selby Abbey Trust constitution allows for up to 12 trustees (currently 9 in place) which include two trustees of Selby Abbey; the Revd Canon John Weetman and Stewart Skilbeck.
Similarly, a grant of £11,262 was received from Selby United Charities during the year (2019 - £11,071). Selby United Charities is a group of charities to include the Selby Feoffee and Welfare Charity which granted the Abbey the funds. The Selby Feoffee and Welfare Charity currently has 10 trustees including the Revd Canon John Weetman, the Revd Neil Woodall, Stewart Skilbeck, Roger Riley and Elaine Exley who are also trustees of the PCC.
A donation of £20,760 was received in the year from a trustee for the purchase of stacking chairs for the Abbey (2019 - £1,400 for furniture for the coffee shop).
There were no other related party transactions as required to be disclosed other than the reimbursement of trustee expenses.
## **23. Free Will Offering**
During the year a Free Will Offering of £50,004 (2019 - £45,000) was made to the York Diocesan Common Fund.
Page 33
## _Selby Abbey Parochial Church Council Charity number: 1130739_
## _Selby Abbey, The Crescent, Selby, North Yorkshire, YO8 4PU_
BHP LLP, Chartered Accountants Rievaulx House 1 St Mary’s Court Blossom Street York YO24 1AH
Dear Sirs
We confirm to the best of our knowledge and belief that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 31 December 2020. These enquiries have included inspection of supporting documentation where appropriate. All representations are made to the best of our knowledge and belief.
## **General**
- 1 We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion.
- 2 We confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 December 2020 audited.
- 3 We have fulfilled our responsibilities as trustees as set out in the terms of your engagement letter dated 8 April 2021, under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
- 4 All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
- 5 All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charity, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission.
- 6 The financial statements are free of material misstatements, including omissions.
## **Assets and liabilities**
- 7 The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
- 8 All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
- 9 We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
## **Accounting estimates**
- 10 Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
## **Legal claims**
- 11 We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for, and disclosed in, the financial statements.
## **Laws and regulations**
- 12 We have disclosed to you all known instances of non-compliance or suspected noncompliance with laws and regulations whose effects should be considered when preparing the financial statements.
## **Related parties**
- 13 Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
## **Subsequent events**
- 14 All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
## **Going concern**
- 15 We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.
## **Grants and donations**
- 16 All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
## **The trustees confirm that the restricted grants and donations listed below is complete.**
Selby Abbey Trust £36,700 Listed Place of Worship £1,318 Heritage Emergency Fund £32,300 Culture Recovery Fund £34,920 J Carr Legacy £20,000 Restricted donations and collections £28,094
Yours faithfully
## John C Weetman
John C Weetman (May 26, 2021 15:27 GMT+1)
..............................................................................................................................
Signed on behalf of the board of the PCC
Date May 26, 2021
John C Weetman John C Weetman (May 26, 2021 15:27 GMT+1)
John C Weetman
2021-06-01
## Selby Abbey PCC 2020 Accounts
Final Audit Report
Created: 2021-05-24 By: Debbie Treece (debbie.treece@bhp.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAOmaGu3y4FdA3w8tJgn75kNo8pQ4BXisj
## "Selby Abbey PCC 2020 Accounts" History
Document created by Debbie Treece (debbie.treece@bhp.co.uk)
2021-05-24 - 5:40:53 PM GMT- IP address: 81.23.52.242
Document emailed to John C Weetman (weetman217@btinternet.com) for signature
2021-05-24 - 5:42:48 PM GMT
Email viewed by John C Weetman (weetman217@btinternet.com)
2021-05-24 - 5:44:38 PM GMT- IP address: 86.130.64.167
Document e-signed by John C Weetman (weetman217@btinternet.com)
Signature Date: 2021-05-26 - 2:27:04 PM GMT - Time Source: server- IP address: 151.249.70.94
Document emailed to Jane Marshall (jane.marshall@bhp.co.uk) for signature 2021-05-26 - 2:27:05 PM GMT
Email viewed by Jane Marshall (jane.marshall@bhp.co.uk) 2021-05-26 - 8:25:48 PM GMT- IP address: 82.132.214.74
Document e-signed by Jane Marshall (jane.marshall@bhp.co.uk)
Signature Date: 2021-06-01 - 2:36:33 PM GMT - Time Source: server- IP address: 86.177.185.45
Agreement completed.
2021-06-01 - 2:36:33 PM GMT