Report of the Treasurer on the Accounts of the Parochial Church Council for the year ended 31 December 2020.
Pages 2 and 3 of the accounts follow a prescribed format. The remaining pages provide further detail. Please note the explanation of the different types of fund on page 3, which is important to the understanding of the accounts.
2020 was of course exceptional. Giving has fallen a little to a total of £101,206 from £108,078 in 2019 for which we are very grateful to all the supporters of the Church for their continuing generosity. We did however lose over £14,500 from our usual Hall Letting income due to it being closed under Covid restrictions. We have controlled costs as carefully as we could and this has worked well with the deficit of just over £7,600 before investments re-valuation being a number which I think we should feel proud of having paid £90,000 to the Diocese.
The paid staff have been quite wonderful. They have worked minimum hours, but been tremendously flexible and supportive to see that the integrity of the Church has been maintained and services conducted when we were able. We are blessed with wonderful people.
-
Diocesan Share : The annual share requested by the Diocese in 2020 was £105,670 of which we paid £90,000. In 2019 we paid £114,000 to the Diocese.
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Hall : The income through hall lettings was £11,711 compared with the income in 2019 of £26,538.
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Church: A total of £2,364 was paid for a new lightning conductor and £1,440 in connection with the Quinquennial report.
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Cash and other assets are shown on page 4. Working balances are held at Barclays Bank. Other monies are on deposit with the C of E Central Board of Finance.
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The revaluation of investments in the Demaine Fund at the year-end resulted in a very pleasing increase of £3,362 and our Endowment Fund increased by £1,694 which is a great result bearing in mind the turmoil in financial markets.
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Since the year-end, we have paid £6,255 to replace the boiler in the hall which was beyond repair. This was met from the Demaine Fund.
I should like to express my own and the PCC's thanks to: Joanne Lake as our Independent Examiner;
Bev Plaxton our bookkeeper who joined during the year and is proving a great asset; Steve Betts as our chair of the Finance Committee;
Our Wardens, Helen Buswell and also Alison Stretton for her work on our charitable giving and stewardship; Simon Pilling as a member of our Finance Committee.
Finally huge thanks to Fr Philip for his support and advice over the years and in particular this very difficult year.
John McGhee Treasurer of St Margaret's Church, Ilkley
Approved by St Margaret’s Church Ilkley PCC. ………………………………………………………….. /2021
1
Independent Examiners Report to The Parochial Church Council (“PCC”) of St Margaret’s Church, Ilkley
This report on the financial statements of the PCC for the year ended 31 December 2020, which are set out on pages 4 to 10, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006, (“the Regulations”) and s.43 of the Charities Act 1993, (“the Act”).
Respective responsibilities of the PCC and the examiner.
As members of the PCC you are responsible for the preparation of the financial statements; you consider that the audit requirement of the Regulations and s.43 (2) of the Act does not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations.
Basis of this report.
My examination was carried out in accordance with the General Directions given by the Charity Commission under s.43 (7) of the Act and to be found in the Church Guidance 2006 edition. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide evidence that would be required for an audit and consequently I do not express an opinion on the view given by the accounts.
Independent Examiners Statement
In connection with my examination, no matter has come to my attention:
Which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with s.41 of the Act and to prepare financial statements, which accord with the accounting records and comply with the requirements of the Act and Regulations have not been met; or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed:
Date:
2
ST MARGARET’S ILKLEY PAROCHIAL CHURCH COUNCIL
Notes to the Financial Statements for the year ended 31 December 2020
ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP 2005.
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC are responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.
Endowment Funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.
Restricted Funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year must be carried forward as a balance on that fund.
Unrestricted Funds are general funds which can be used for PCC ordinary purposes. To assist administration, unrestricted funds can be Designated for a particular purpose but they remain legally unrestricted. The PCC does not necessarily invest separately for each fund. Where there is no separate investment, interest is apportioned to each fund on an average balance basis.
Incoming resources. Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when received, interest is accrued. All other income is recognised when receivable. All incoming resources are accounted for gross.
Resources used. Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the PCC. The diocesan share is accounted for when paid. All other expenditure is generally recognised when it is incurred and is accounted for gross.
Fixed assets Consecrated and beneficed property of any kind is excluded from the financial statements by s.96(2)(a) of the Charities Act 1993.Movable church furnishings held by the vicar and churchwardens on special trusts for the PCC and which require a faculty for disposal are accounted for as inalienable property. They are listed in the church’s inventory which can be inspected (at any reasonable time). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. The policy is to write-off when acquired the cost of equipment used within the church when such items have cost no more than £3,000. Items costing more than this are depreciated on a straight-line basis over 4 years. The Parish Hall is being written down at 1% per annum.
Investments are valued at market value at 31 December
3
St Margaret's Ilkley Parochial Church Council – Year ended 31 December 2020 Assets and Liabilities as at 31 December 2020
| Fund | Fund Type | Asset | Asset Type | Value £ |
|---|---|---|---|---|
| Development | Restricted | Bank accounts | Current | 15,231 |
| Choir | Restricted | Bank account | Current | 3,982 |
| Gas and Elect. | Restricted | Bank account | Current | 831 |
| JJNushumi College | Restricted | Bank account | Current | - |
| Discretionary | Endowment | 1,333 CboF Income Fund shares & Bank account |
Fixed + current | 31,134 |
| Demaine | Restricted | 2,646 CboF Income Fund Shares & Bank account |
Current | 48,233 |
| Flower | Restricted | Bank account | Current | 1,760 |
| General Legacies | Designated | Bank account | Current | 300 |
| Hall Management | Designated | Bank accounts | Current | (9,994) |
| Hall FF & ER | Designated | Bank accounts | Current | 10,376 |
| Junior Choir | Restricted | Bank account | Current | 7,385 |
| Mission Fund | Designated | Bank account | Current | 928 |
| General | Unrestricted | Bank account | Current | (4,196) |
| Organ fund | Designated | Bank account | Current | 3,155 |
| Christmas appeal | Restricted | Bank account | Current | 1,365 |
| Total net assets excluding Parish Hall |
110,490 | |||
| Parish Hall at cost | 593,517 | |||
| Less depreciation at 1%per annum |
83,058 | |||
| 510,459 | ||||
| Total net assets as shown in balance sheet |
620,949 628,584(2019) |
NB, minor discrepancies in totals are through pence rounding
Giving to Charities
The PCC's Outward Giving is channeled through the Mission Fund and Funds for the purpose of Outward Giving. Payments made during 2020 are shown below.
Mission Fund Payments
JJ Community Transformation: £170
Agency collections:
DEC Covid appeal: £53 Christian Aid £358 Christmas appeal: £4,802 (Staying Put, Keighley refuge for 2019 appeal).
Total for 2020 £5,383
A further amount of £1,365 was raised for the 2020 Christmas Appeal charity and was paid after the yearend.
4
Statement of Financial Activities
| Unrestricted Restricted Endowment Total Prior year funds funds funds funds total funds 92,620 46,764 125 139,510 154,342 14,883 3,275 — 18,159 46,344 2,371 — — 2,371 2,419 — — — — 1,233 — — — — 26,945 109,875 50,040 125 160,040 231,285 15 — — 15 589 116,707 50,519 — 167,226 222,989 330 — — 330 6,595 117,052 50,519 — 167,572 230,175 (7,177) (479) 125 (7,532) 1,110 6,313 202 — 6,515 61,577 (260) (6,255) — (6,515) (61,577) (1,125) (6,531) 125 (7,532) 1,110 (5,156) 3,362 1,694 (100) (77,902) — — — — 11,690 (6,281) (3,169) 1,819 (7,632) (65,102) 512,896 86,375 29,315 628,587 693,689 506,614 83,205 31,134 620,955 628,587 |
|
|---|---|
| Incoming resources Incoming resources from generated funds Voluntary income Activities for generating funds Investment income Incoming resources from charitable activities Other incoming resources Total incoming resources Resources used Costs of generating funds Costs of generating voluntary income Charitable activities Other resources used Total resources used Net income / (expenditure) Transfers Gross transfers between funds - in Gross transfers between funds - out Net income / (expenditure) Other recognised gains / losses Gains / losses on investment assets Gains on revaluation, fixed assets, charity's own use Net movement in funds Total funds brought forward Total funds carried forward |
5
Balance sheet
| Class and code Description Fixed assets D1101 Parish Hall D1102 Investments Total Fixed assets Current assets C1101 Barclays - General C1102 Barclays - Hall Appeal C1103 CBoF - Composite C1105 CBoF investments Z05 Accounts Receivable Total Current assets Liabilities E1101 Loan from diocese Z04 Accounts Payable Total Liabilities Net Asset surplus(deficit) Reserves Excess / (deficit) to date Z01 Starting balances Z02 Gains/(losses) on investment assets Z03 Gains and losses own use Total Reserves Represented by funds Unrestricted Designated Restricted Endowment Total |
This year Last year 510,459 515,615 27,245 25,551 |
|---|---|
| 537,704 541,166 16,522 24,055 — — 12,639 12,639 54,089 50,727 — — |
|
| 83,251 87,421 — — — — |
|
| — — |
|
| 620,995 628,587 |
|
| (7,532) 11,516 628,587 683,282 (100) (77,902) — 11,690 |
|
| 620,955 628,587 505,003 511,894 1,610 1,002 83,205 86,375 31,134 29,315 |
|
| 620,995 628,587 |
6
Statement of assets and liabilities
| General Designated Restricted Endowment This year Last year | |
|---|---|
| Fixed assets - Investments Investments - Totals Fixed assets - Tangible assets Parish Hall - Totals Current assets - Cash at bank and in hand Barclays - General - CBoF - Composite - Totals Current assets - Investments CBoF investments - Totals Grand total |
— — — 27,245 27,245 25,551 |
| — — — 27,245 27,245 25,551 510,459 — — — 510,459 515,615 |
|
| 510,459 — — — 510,459 515,615 (6,210) (6,889) 25,732 3,889 16,522 24,055 755 8,500 3,384 — 12,639 12,639 |
|
| (5,455) 1,610 29,116 3,889 29,162 36,694 — — 54,089 — 54,089 50,727 |
|
| — — 54,089 — 54,089 50,727 |
|
| 505,003 1,610 83,205 31,134 620,955 628,587 |
Fund movement by type
| Opening Incoming Outgoing Transfer Gains/losses Closing |
|
|---|---|
| Appeals - DEC Appeals Restricted Sub-total for Appeals ChristAid - Christian Aid Restricted Sub-total for ChristAid Christmas - Christmas Appeal Restricted Sub-total for Christmas Energy - Gas & Electricity Restricted Sub-total for Energy JJNsh - JJNushumi College Restricted Sub-total for JJNsh Mission - Mission Designated Sub-total for Mission |
— 2 52 50 — — |
| — 2 52 50 — — — 357 357 — — — |
|
| — 357 357 — — — 4,429 1,738 4,802 — — 1,365 |
|
| 4,429 1,738 4,802 — — 1,365 269 562 — — — 831 |
|
| 269 562 — — — 831 169 — 169 — — — |
|
| 169 — 169 — — — 545 691 250 (58) — 928 |
|
| 545 691 250 (58) — 928 |
Organ Fund - Organ (Maintenance)
7
| Restricted Sub-total for Organ Fund Share - Diocesan Share Restricted Sub-total for Share General - General fund Unrestricted Sub-total for General HallMan - Hall Management Designated Sub-total for Hall Man HallFFER - Hall FFandER Designated Sub-total for HallFFER GenLegacy - Gen Legacies Designated Sub-total for GenLegacy Demaine - Demaine Restricted Sub-total for Demaine Development - Development Restricted Sub-total for Development ChoirFd - Choir Fund Restricted Sub-total for ChoirFd JuniorChoi - Junior Choirs' Restricted Sub-total for JuniorChoi Flower - Flower Restricted Sub-total for Flower Discretion - Discretionary Endowment Sub-total for Discretion Grand total |
2,405 750 — — — 3,155 |
|---|---|
| 2,405 750 — — — 3,155 — 43,739 42,632 152 — 1,260 |
|
| — 43,739 42,632 152 — 1,260 511,894 97,472 99,061 (144) (5,156) 505,003 |
|
| 511,894 97,472 99,061 (144) (5,156) 505,003 (3,964) 11,711 17,741 — — (9,994) |
|
| (3,964) 11,711 17,741 — — (9,994) 4,121 — — 6,255 — 10,376 |
|
| 4,121 — — 6,255 — 10,376 300 — — — — 300 |
|
| 300 — — — — 300 51,126 — — (6,255) 3,362 48,233 |
|
| 51,126 — — (6,255) 3,362 48,233 14,553 678 — — — 15,231 |
|
| 14,553 678 — — — 15,231 4,956 1,169 2,143 — — 3,982 |
|
| 4,956 1,169 2,143 — — 3,982 6,635 750 — — — 7,385 |
|
| 6,635 750 — — — 7,385 1,830 292 362 — — 1,760 |
|
| 1,830 292 362 — — 1,760 29,315 125 — — 1,694 31,134 |
|
| 29,315 125 — — 1,694 31,134 |
|
| 628,587 160,040 167,572 — (100) 620,955 |
8
Analysis of Income and Expenditure Unrestricted Designated Restricted Endowment This year Last year
INCOME AND ENDOWMENTS
| Incoming resources from generated funds - Voluntary income - Regular Giving - Bank 61,148 — 32,968 — 94,117 89,465 - Regular Giving - Envelope 3,960 — 1,227 — 5,187 11,299 - Irregular Giving - Gift Aid 272 — 77 — 349 854 - Irregular Giving - Bank 150 — 150 — 300 — - Tax recovered 15,514 57 7,884 25 23,482 25,527 - Irregular Giving - Sunday Coll 1,253 — — — 1,253 6,460 - Irreg Giving - Occasional Serv 285 — — — 285 63 - Donations 8,608 490 3,706 100 12,904 19,050 - Pricket stand 129 — — — 129 471 - Grants 750 — 750 — 1,500 150 -Legacies — — — — — 1,000 Total 92,072 547 46,764 125 139,510 154,342 Incoming resources from generated funds - Activities for generating funds - Hall lettings - regular — 10,584 — — 10,584 21,619 - Hall lettings - one-off — 1,127 — — 1,127 4,919 - Church lettings 216 — — — 216 2,909 - Charges re occasional services 2,334 — 1,450 — 3,784 7,808 - Magazine - sales 307 — — — 307 773 - Magazine - adverts 170 — — — 170 904 - Fund raising events — 143 50 — 193 2,406 - Appeals — — 1,775 — 1,775 5,003 Total 3,028 11,855 3,275 — 18,159 46,344 Incoming resources from generated funds - Investment income - Dividends 2,371 — — — 2,371 2,372 -Bank interest — — — — — 46 Total 2,371 — — — 2,371 2,419 Incoming resources from charitable activities -Fees-PCC — — — — — 1,233 Total — — — — — 1,233 Other incoming resources –VAT refund — — — — — 970 Total — — — — — 970 97,472 12,403 50,040 125 160,040 225,310 |
Incoming resources from generated funds - Voluntary income - Regular Giving - Bank 61,148 — 32,968 — 94,117 89,465 - Regular Giving - Envelope 3,960 — 1,227 — 5,187 11,299 - Irregular Giving - Gift Aid 272 — 77 — 349 854 - Irregular Giving - Bank 150 — 150 — 300 — - Tax recovered 15,514 57 7,884 25 23,482 25,527 - Irregular Giving - Sunday Coll 1,253 — — — 1,253 6,460 - Irreg Giving - Occasional Serv 285 — — — 285 63 - Donations 8,608 490 3,706 100 12,904 19,050 - Pricket stand 129 — — — 129 471 - Grants 750 — 750 — 1,500 150 -Legacies — — — — — 1,000 Total 92,072 547 46,764 125 139,510 154,342 Incoming resources from generated funds - Activities for generating funds - Hall lettings - regular — 10,584 — — 10,584 21,619 - Hall lettings - one-off — 1,127 — — 1,127 4,919 - Church lettings 216 — — — 216 2,909 - Charges re occasional services 2,334 — 1,450 — 3,784 7,808 - Magazine - sales 307 — — — 307 773 - Magazine - adverts 170 — — — 170 904 - Fund raising events — 143 50 — 193 2,406 - Appeals — — 1,775 — 1,775 5,003 Total 3,028 11,855 3,275 — 18,159 46,344 Incoming resources from generated funds - Investment income - Dividends 2,371 — — — 2,371 2,372 -Bank interest — — — — — 46 Total 2,371 — — — 2,371 2,419 Incoming resources from charitable activities -Fees-PCC — — — — — 1,233 Total — — — — — 1,233 Other incoming resources –VAT refund — — — — — 970 Total — — — — — 970 97,472 12,403 50,040 125 160,040 225,310 |
|---|---|
| –VAT refund | |
| Total | |
| 97,472 12,403 50,040 125 160,040 225,310 |
9
EXPENDITURE
Costs of generating funds - Costs of generating voluntary income
| -Publicity Total Charitable activities - Diocesan Share – Salaries - Tax & NI - Electricity - Gas - Water - Telephone (office) - Bookkeeping fees - Insurance - Church maint (contract) - Church maint (repairs) - Hall maintenance (contract) - Hall maintenance (repairs) - Cleaning mats, hygiene, bulbs - Sundry expenses - Stationery & Office sundries - Photocopier - Postage - Printing - magazine - Printing - general - Clergy expenses - travel - Clergy expenses - phone - Clergy expenses - sundry - PCC donations to charities - Discretionary Fd Payments - Cost of flowers - Flower equipment - Equip/ furniture - church - Equip/furniture - hall - Sacristy supplies - wine - Sacristy supplies - candles - Sacristy supplies - sundry - Churchyard - Sunday school - Choir - Junior Choirs - Fees - relief organist - Church Occasional Services Total - Bank Charges Total EXPENDITURE TOTAL Net total (brackets =deficit) |
-Publicity | 15 — — — 15 589 15 — — — 15 589 47,367 — 42,632 — 90,000 114,000 17,410 8,418 — — 25,829 29,721 582 1,229 — — 1,811 5,042 951 1,427 — — 2,379 2,317 5,321 1,330 — — 6,651 7,265 — 282 — — 282 348 449 — — — 449 353 2,425 — — — 2,425 3,650 5,891 — — — 5,891 4,986 3,847 — — — 3,847 11,877 3,878 — — — 3,878 7,037 — 2,565 — — 2,565 2,923 — 1,404 — — 1,404 2,664 — 1,033 — — 1,033 1,942 4,517 50 — — 4,567 2,441 1,545 — — — 1,545 4,615 7 — — — 7 — 500 — — — 500 63 407 — — — 407 2,302 48 — — — 48 152 278 — — — 278 — 790 — — — 790 — 395 — — — 395 1,777 — 250 5,381 — 5,631 8,331 300 — — — 300 925 — — 347 — 347 1,476 — — 15 — 15 — — — — — — 572 — — — — — 304 — — — — — — 593 — — — 593 1,707 103 — — — 103 — 600 — — — 600 690 — — — — — — — — 2,056 — 2,056 2,277 — — 87 — 87 417 500 — — — 500 745 — — — — — 60 98,715 17,991 50,519 — 167,226 222,989 330 — — — 330 501 |
15 — — — 15 589 15 — — — 15 589 47,367 — 42,632 — 90,000 114,000 17,410 8,418 — — 25,829 29,721 582 1,229 — — 1,811 5,042 951 1,427 — — 2,379 2,317 5,321 1,330 — — 6,651 7,265 — 282 — — 282 348 449 — — — 449 353 2,425 — — — 2,425 3,650 5,891 — — — 5,891 4,986 3,847 — — — 3,847 11,877 3,878 — — — 3,878 7,037 — 2,565 — — 2,565 2,923 — 1,404 — — 1,404 2,664 — 1,033 — — 1,033 1,942 4,517 50 — — 4,567 2,441 1,545 — — — 1,545 4,615 7 — — — 7 — 500 — — — 500 63 407 — — — 407 2,302 48 — — — 48 152 278 — — — 278 — 790 — — — 790 — 395 — — — 395 1,777 — 250 5,381 — 5,631 8,331 300 — — — 300 925 — — 347 — 347 1,476 — — 15 — 15 — — — — — — 572 — — — — — 304 — — — — — — 593 — — — 593 1,707 103 — — — 103 — 600 — — — 600 690 — — — — — — — — 2,056 — 2,056 2,277 — — 87 — 87 417 500 — — — 500 745 — — — — — 60 98,715 17,991 50,519 — 167,226 222,989 330 — — — 330 501 |
|
|---|---|---|---|---|
| Total | ||||
| - Diocesan Share | ||||
| – Salaries | ||||
| - Tax & NI | ||||
| - Electricity | ||||
- Gas |
||||
| - Water | ||||
| - Telephone (office) | ||||
| - Bookkeeping fees | ||||
- Insurance |
||||
| - Church maint (contract) | ||||
| - Church maint (repairs) | ||||
- Hall maintenance (contract) |
||||
| - Hall maintenance (repairs) |
||||
| - Cleaning mats, hygiene, bulbs |
||||
| - Sundry expenses | ||||
- Stationery & Office sundries |
||||
| - Photocopier | ||||
- Postage |
||||
- Printing - magazine |
||||
- Printing - general |
||||
| - Clergy expenses - travel | ||||
- Clergy expenses - phone |
||||
- Clergy expenses - sundry |
||||
- PCC donations to charities |
||||
| - Discretionary Fd Payments |
||||
| - Cost of flowers | ||||
| - Flower equipment | ||||
- Equip/ furniture - church |
||||
- Equip/furniture - hall |
||||
- Sacristy supplies - wine |
||||
- Sacristy supplies - candles |
||||
| - Sacristy supplies - sundry | ||||
- Churchyard |
||||
| - Sunday school | ||||
- Choir |
||||
| - Junior Choirs | ||||
| - Fees - relief organist | ||||
- Church Occasional Services |
||||
| Total | ||||
| - Bank Charges | ||||
| Total | 330 — — — 330 501 |
|||
| EXPENDITURE TOTAL | 99,061 17,991 50,519 — 167,572 224,081 (1,589) (5,588) (479) 125 (7,532) 1,228 |
|||
| Net total (brackets =deficit) |
10