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2020-12-31-accounts

Charity Registration No. 1131090

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Rev M J Boag Rev S Upchurch S Pelissier (Appointed 25 October 2020) L Milburn (Appointed 25 October 2020) C Formby C S Smith Dr A B Wilkinson (Appointed 25 October 2020) S Dring (Appointed 25 October 2020) E Gallagher Dr G J Sawyer (Appointed 25 June 2020) R C Wells (Appointed 16 May 2021) D I Anderson Charity number 1131090 Registered office St Barnabas' Church Worth Road, Pound Hill, Crawley West Sussex RH10 7DY Independent examiner Darren Harding ACA FCCA DChA Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4 - 5
Balance sheet 6
Notes to the financial statements 7 - 17

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their report and financial statements for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's the Parochial Church Council Powers Measure (1956) as amended and churches representation Rules , 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

Policies and objectives

The primary purpose of the Parochial Church Council (Trustees) of the Ecclesiastical Parish of Worth, Pound Hill and Maidenbower is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England.

In setting objectives and planning for activities, the PCC members have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Strategies for achieving objectives

The Parish has two centres of worship, the Parish Church of St Nicholas, Worth and the Church of St Barnabas, Pound Hill with the latter site encompassing a hall, meeting rooms and a cafe.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities undertaken to achieve objectives

The Parochial Church Council is responsible for the ministry of both Churches and for the Church buildings. It is also responsible for the associated land and buildings and for some of the maintenance of properties owned by the Church of England for use by the clergy.

Main activities undertaken to further the Charity's purposes for the public benefit

T he Churches are used on a regular basis for both worship and other community activities.

Achievements and performance

Review of activities

Attendances at Sunday, weekday Eucharist and other services, along with all church activities have been severely affected by the Coronavirus pandemic. Despite this, new members have been welcomed, weddings, baptisms and funeral services have been held.

Financial review

Going concern

After making appropriate enquiries, the PCC members have a reasonable expectation that the Charity 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.

Reserves policy

It is the policy of the Parochial Church Council to maintain a balance of free reserves to cover major financial risks. The reserves are regularly reviewed to ensure they are maintained at an acceptable level. These free reserves are presently at a very low level at less than three months normal activity.

Richard Place Dobson page 1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

Principal fundi ng

The Parish made a deficit in the year of £ 97,161 ( surplus in 201 9 of £ 247 , 164 ). Total reserves of £ 254,090 are to be carried forward at the year end. The Church has been greatly blessed with income from legacies and specific donations, which will enable the Church to make improvements to the Church buildings and surrounding area.

The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

Constitution

The Parochial Church Council of the Ecclesiastical Parish of Worth, Pound Hill & Maidenbower is a registered charity, number 1131090, and is constituted under a Trust deed.

The Trustees who served during the year and up to the date of signature of the financial statements were: Rev M J Boag Rev S Upchurch S Pelissier (Appointed 25 October 2020) L Milburn (Appointed 25 October 2020) C Formby C S Smith Dr A B Wilkinson (Appointed 25 October 2020) S Dring (Appointed 25 October 2020) E Gallagher Dr G J Sawyer (Appointed 25 June 2020) R C Wells (Appointed 16 May 2021) D I Anderson

Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the PCC members who are elected and co-opted under the terms of the Trust deed.

Financial risk management

The PCC members have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The PCC members are satisfied with the progress of the Church during the year and no major changes are expected in the coming year.

The trustees' r eport was approved by the Board of Trustees.

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

Rev M J Boag Trustee Dated: .........................

Richard Place Dobson page 2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

I report to the Trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Worth, Pound Hill and Maidenbower (the charity) for the year ended 31 December 2020.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all 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 charity has prepared financial statements in accordance with Accounting and Reporting by 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 now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with 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:

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 financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

Dated: .........................

Richard Place Dobson page 3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2020
2020
2020
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
79,200
92,358
-
Charitable activities
4
29,179
-
-
Investments
5
584
-
-
Other income
6
864
-
-
Total income
109,827
92,358
-
Expenditure on:
Charitable activities
7
136,640
162,873
-
Net gains/(losses) on investments
11
-
-
167
Net (outgoing)/incoming resources
before transfers
(26,813)
(70,515)
167
Gross transfers between funds
(1,572)
1,572
-
Net movement in funds
(28,385)
(68,943)
167
Fund balances at 1 January 2020
47,534
301,282
2,435
Fund balances at 31 December 2020
19,149
232,339
2,602		 Total
2020
£
171,558
29,179
584
864
202,185
299,513
167
(97,161)
-
(97,161)
351,251
254,090		 Total
2019
£
378,977
85,994
-
-
464,971
218,190
383
247,164
-
247,164
104,084
351,248

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

All income and expenditure derive from continuing activities.

Richard Place Dobson page 4

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Prior financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2019
2019
2019
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
82,358
296,619
-
Charitable activities
4
85,994
-
-
Total income
168,352
296,619
-
Expenditure on:
Charitable activities
7
160,041
58,149
-
Net gains/(losses) on investments
11
-
-
383
Net (outgoing)/incoming resources before
transfers
8,311
238,470
383
Net movement in funds
8,311
238,470
383
Fund balances at 1 January 2019
39,221
62,812
2,051
Fund balances at 31 December 2019
47,532
301,282
2,434		 Total
2019
£
378,977
85,994
464,971
218,190
383
247,164
247,164
104,084
351,248

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

All income and expenditure derive from continuing activities.

Richard Place Dobson page 5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Current assets
Debtors
13
Investments
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Capital funds
Endowment funds
16
Income funds
Restricted funds
17
Unrestricted funds
Designated funds
18
General unrestricted funds		 2020
£
5,178
2,602
253,481
261,261
(7,171)
11,293
7,856		 £
254,090
2,602
232,339
19,149
254,090		 2019
£
13,518
2,434
343,893
359,845
(8,597)
24,524
23,008		 £
351,248
2,434
301,282
47,532
351,248

The financial statements were approved by the Trustees on .........................

.............................. Rev M J Boag Trustee

Richard Place Dobson page 6

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's the Parochial Church Council Powers Measure (1956) as amended and churches representation Rules, 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity 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 Charity 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 subject to specific conditions by donors that the capital must be maintained by the charity.

Richard Place Dobson page 7

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.4 Income

All income is recognised once the Charity 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 Charity 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 Charity, can be reliably measured.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 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 charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.6 Cash and cash equivalents

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.

1.7 Financial instruments

The Charity 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.

Basic financial assets

Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Richard Place Dobson page 8

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Basic financial liabilities

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 Charity 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 pretax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2020
2020
£
£
Donations and gifts
77,001
92,358
Legacies receivable
-
-
Grants received
2,199
-
79,200
92,358		 Total
Unrestricted
Restricted
funds
funds
general
2020
2019
2019
£
£
£
169,359
82,358
56,600
-
-
240,019
2,199
-
-
171,558
82,358
296,619		 Total
2019
£
138,958
240,019
-
378,977

Richard Place Dobson page 9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4 Charitable activities
Fees, rental Fees, rental
and event and event
income income
2020 2019
£ £
Fees, rental and event income 29,179 85,994
5 Investments
Unrestricted Total
funds
general
2020 2019
£ £
Interest receivable 584 -
6 Other income
Unrestricted Total
funds
general
2020 2019
£ £
Other income 864 -

Richard Place Dobson page 10

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

7 Charitable activities

Charitable
Giving
Ministry
Costs
Property
Costs
2020
2020
2020
£
£
£
Staff costs
-
19,755
2,595
Events and fundraising
62
-
-
Diocesan Parish Contribution
-
81,000
-
Other Clergy Costs
-
87
-
Other Ministry Costs
-
21
-
Weddings/ Funerals to Diocese
-
4,659
-
Baptisms
-
41
-
Worship & Music
-
1,404
-
Insurance
-
-
3,533
Maintenance
-
-
5,399
Utilities
-
-
12,626
Architects fees
-
-
154,274
Churchyard costs
-
-
6,004
Parish Office
-
4,387
-
Other Expenses
-
126
-
62
111,480
184,431
Share of governance costs (see note 8)
3,540
-
-
3,602
111,480
184,431
Analysis by fund
Unrestricted funds - general
3,602
111,480
21,558
Restricted funds
-
-
162,873
3,602
111,480
184,431		 Total
2020
£
22,350
62
81,000
87
21
4,659
41
1,404
3,533
5,399
12,626
154,274
6,004
4,387
126
295,973
3,540
299,513
136,640
162,873
299,513		 Total
2019
£
31,077
5,546
79,560
1,090
1,507
6,459
-
4,329
4,057
2,801
16,734
53,393
3,569
5,878
1,110
217,110
1,080
218,190
160,041
58,149
218,190

Richard Place Dobson page 11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

7 Charitable activities (Continued)
For the year ended 31 December 2019
Charitable
Ministry		 Property Total
Giving
Costs		 Costs 2019
£
£		 £ £
Staff costs -
31,077		 - 31,077
Events and fundraising 5,546
-		 - 5,546
Diocesan Parish Contribution -
79,560		 - 79,560
Other Clergy Costs -
1,090		 - 1,090
Other Ministry Costs -
1,507		 - 1,507
Weddings/ Funerals to Diocese -
6,459		 - 6,459
Worship & Music -
4,329		 - 4,329
Insurance -
-		 4,057 4,057
Maintenance -
-		 2,801 2,801
Utilities -
-		 16,734 16,734
Architects fees -
-		 53,393 53,393
Churchyard costs -
-		 3,569 3,569
Parish Office -
5,878		 - 5,878
Other Expenses -
1,110		 - 1,110
5,546
131,010		 80,554 217,110
Share of governance costs (see note 8) 1,080
-		 - 1,080
6,626
131,010		 80,554 218,190
Analysis by fund
Unrestricted funds - general 6,626
131,010		 22,405 160,041
Restricted funds -
-		 58,149 58,149
6,626
131,010		 80,554 218,190
8 Support costs
Support costs Governance 2020 Support costs Governance 2019
costs costs
£ £ £ £ £ £
Accountancy - 3,540 3,540 - 1,080 1,080
- 3,540 3,540 - 1,080 1,080
Analysed between
Charitable activities - 3,540 3,540 - 1,080 1,080

Richard Place Dobson page 12

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

9 Trustees

During the year ended 31 December 20 20 , expenses totalling £ 1 ,3 15 were reimbursed or paid directly to 10 Trustees (201 9 - £ 3 , 326 to 10 Trustees). An amount of £8 7 was paid to two clergy as expenses claimed for costs incurred in carrying out their work. An amount of £ 1 ,2 28 was reimbursed to 8 Trustees for church running costs paid by them on behalf of the church.

10 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
5 6
Employment costs 2020 2019
£ £
Wages and salaries 22,350 31,077
11 Net gains/(losses) on investments
Endowment Endowment
funds funds
2020 2019
£ £
Revaluation of investments 167 383
12 Financial instruments 2020 2019
£ £
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 2,602 2,434
13 Debtors
2020 2019
Amounts falling due within one year: £ £
Trade debtors 1,145 3,603
Other debtors 4,033 9,915
5,178 13,518

Richard Place Dobson page 13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

14 Current asset investments
2020 2019
£ £
Investment with the Diocese of Chichester Trust 2,602 2,434
15 Creditors: amounts falling due within one year
2020 2019
£ £
Other taxation and social security - 1,346
Other creditors 4,471 6,170
Accruals and deferred income 2,700 1,081
7,171 8,597
16 Endowment funds
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment
funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital
gains or losses arising on the assets form part of the fund.
Balance at Transfers
Revaluations		 Balance at Transfers
Revaluations		 Balance at
1 January 2019 gains and losses 1 January 2020 gains and losses 31 December
2020
£ £
£		 £ £ £ £
Permanent endowments
Thompson
Trust
2,051		 -
384		 2,435 -
167		 2,602
2,051 -
384		 2,435 -
167		 2,602

The Thompson Trust.

Set up to maintain 3 Thompson family graves.

Richard Place Dobson page 14

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

17 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 January 2020
£
The Friends of St Nicolas
1,915
Mission Fund
1,004
Parish World Bank
1,888
St B's Refurbishment
58,780
St N's Fabric & Tower
166,776
St N's Approach
30,817
Churchyard
6,964
Memorial Garden
32,048
Organ Fund
1,090
301,282
Balance at
1 January 2019
£
The Friends of St Nicolas
1,915
Mission Fund
1,004
Parish World Bank
1,260
St B's Refurbishment
7,657
St N's Fabric & Tower
4,331
St N's Approach
30,817
Churchyard
9,513
Memorial Garden
4,038
Organ Fund
2,277
62,812		 Movement in funds
Incoming
resources
Resources
expended
£
£
60
-
669
(1,892)
322
-
48,179
(9,456)
40,004
(106,002)
-
(2,192)
58
(6,352)
3,066
(36,467)
-
(512)
92,358
(162,873)
Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
-
-
628
-
76,743
(25,620)
187,878
(25,433)
-
-
1,020
(3,569)
30,350
(2,340)
-
(1,187)
296,619
(58,149)		 Transfers
Balance at
31 December
2020
£
£
-
1,975
219
-
-
2,210
-
97,503
-
100,778
-
28,625
-
670
1,353
-
-
578
1,572
232,339
Transfers
Balance at
31 December
2019
£
£
-
1,915
-
1,004
-
1,888
-
58,780
-
166,776
-
30,817
-
6,964
-
32,048
-
1,090
-
301,282		 Transfers
Balance at
31 December
2020
£
£
-
1,975
219
-
-
2,210
-
97,503
-
100,778
-
28,625
-
670
1,353
-
-
578
1,572
232,339
Transfers
Balance at
31 December
2019
£
£
-
1,915
-
1,004
-
1,888
-
58,780
-
166,776
-
30,817
-
6,964
-
32,048
-
1,090
-
301,282
301,282

Richard Place Dobson page 15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

17 Restricted funds

(Continued)

The Friends of St Nicholas.

This fund was set up to fund maintenance at St Nicholas’.

The Mission Fund.

The Mission Fund was drawn on during lockdown to enable broadcasting of church services

Parish World Bank or Team Work Bank.

The congregation regularly donates a small amount which can be used to support any emergency. eg the Tsunami and the fire at Grenfell Tower.

St Barnabas’ Refurbishment (Fabric) Fund

This is an on going project. In the past we have updated the Hall and the toilets. Currently, the builders are in the Pastoral Centre, updating the flooring and the kitchen.

St Nicholas Fabric and Tower

The roof and the Tower have been leaking for years. In 2019 we received a legacy of £185,000 or thereabouts, and work commenced.

St Nicholas Approach

A parishioner gave us £40,000 in 2018 to deal with the problem we have with the path leading to the St Nicholas’ Church and the trees which are encroaching onto and destroying the only access path. This project is ongoing.

Churchyard Fund – St N’s only

Used to pay for the maintenance of the mowers.

Remembrance Garden

£30,000 was given by a parishioner in memory of his late wife to work on the memorial garden. The work has now been completed and the remainder of the fund helped cover the maintenance.

St Nicolas’ Organ

This fund comes from wedding couples who have in the past donated towards the Organ Fund.

Richard Place Dobson page 16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF WORTH, POUND HILL AND MAIDENBOWER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

18 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds
Balance at
1 January 2020
Incoming
resources
Resources
expended
£
£
£
Toddlers Group
1,149
285
(141)
Youth Group
(245)
189
(44)
Parish fabric Fund
23,620
-
-
24,524
474
(185)
Movement in funds
Balance at
1 January 2019
Incoming
resources
Resources
expended
£
£
£
Toddlers Group
212
1,302
(365)
Youth Group
211
110
(566)
Parish fabric Fund
23,620
-
-
24,043
1,412
(931)
19
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2020
2020
2020
£
£
£
Fund balances at 31 December 2020
are represented by:
Current assets/(liabilities)
19,149
232,339
2,602
19,149
232,339
2,602		 Transfers
Balance at
31 December
2020
£
£
-
1,293
100
-
(13,620)
10,000
(13,520)
11,293
Transfers
Balance at
31 December
2019
£
£
-
1,149
-
(245)
-
23,620
-
24,524
Total
Total
2020
2019
£
£
254,090
351,248
254,090
351,248

20 Related party transactions

There were no disclosable related party transactions during the year (2019 - none).

Richard Place Dobson page 17