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2020-12-31-accounts

’ ST PETER S CHURCH HERSHAM

Parochial Church Council’s Report and Unaudited Accounts for the year ended 31 December 2020

“Attracting, Engaging and Involving”

St Peter’s Church, Hersham Contents

Legal and Administrative Information Report and Proceedings of the Parochial Church Council Statement of Responsibilities of the Members Independent Examiner’s Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements

The painting St Peter’s Church building shown on the cover page is reproduced with kind permission of Geoff Trickey

2

St Peter’s Church, Hersham Legal and Administrative

Incumbent and Chairman of Parochial Church Revd. Jackie Richardson (from 1 April 2019) *#
Council
Associate Priests Revd. Sue Gray #
Licensed Lay Minister
 Deborah Lock
Reader Emeritus Adela Foddy (until 20 May 2020)
Parochial Church Council Members Paul Adams * (Health & Safety Officer until 21 April 2021)
Jane Anderson
Debbie Bradley (until 24 October 2020)
John Cramp (until 24 October 2020)
Loreilie Staines (from 24thOctober 2020
Margaret Hicks
Paul Hughes
Stephen Ind (until 24thOctober 2020)
Katherine Ind (from 24thOctober 2020)
Tony Skrzypecki *
Pat Shore
Trish Stone (until 19thNovember 2020)
Derek Williamson (until 24th(October 2020
Julie Whing (from 24thOctober 2020)
Clare Warne (from 24thOctober 2020
Malcolm Reid*
David Mealor (from 24thOctober 2020)
Churchwardens
 Andrew Strong *# Vice Chairman of the PCC from 24thOctober 2020
David Mealor * (until 24thOctober 2020)
Lynne Watson *# (from 24thOctober 2020)
Representatives on the Deanery Synod Lulu Button #
Sarah Gardner # (until 22 Jan 2020)
Lynne Watson* # (Safeguarding Officer)
Pastoral Assistants Margaret Kimmance (until 24thOctober 2020)
Sara Langley
Sarah Tourell (Parish Secretary)
Lorelie Staines
PCC Secretary Jane Anderson (until 24thOctober 2020)
Karen Richards (from 24thOctober 2020)
Treasurer Malcolm Reid
Web Site www.stpetershersham.com
Principal address The Parish Office
1 Burwood Road, Hersham
Surrey, KT12 4AA
Bank Lloyds Banking Group plc,
83 High Street, Walton-on-Thames, Surrey KT12 1DU
Independent Examiner Warner Wilde Limited, Chartered Certified Accountants and
Registered Auditors
4 Marigold Drive, Bisley, Surrey, GU24 9SF
Architect: To be appointed
Charity registration number 1131361

3

St Peter’s Church, Hersham Report and Proceedings of the Parochial Church Council

The Parochial Church Council of St Peter’s Hersham (the “PCC”) presents its report and accounts for the year ended 31 December 2020.

Structure, governance and management

The PCC, which is in the Diocese of Guildford, is part of the Church of England and was established by the Parochial Church Council’s (Powers) Measure 1956, as amended, and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969, as amended). It is a charity registered with the Charity Commission, regulated by the Charities Act 2011 which requires the PCC to report to its congregation and the public at large. PCC members are Trustees of the Charity.

Members of the PCC are appointed in accordance with the Church Representation Rules and normally are elected for a three-year term by nomination of two parishioners. New PCC members are briefed on their responsibilities by the Incumbent as PCC Chairman. In line with Diocesan requirements and where appropriate, PCC members receive training on safeguarding and data protection.

The PCC meets regularly during the year to manage the ordinary business of the Parish, such as the appointment of officers, expenditure and budgeting, the balance and type of our social events, risk management, safeguarding, data protection, equipment needs, property matters, and issues raised by Teams. Day-to-day operational management of the Parish is undertaken by the Incumbent and Church Wardens working closely together. The Parish has an executive committee, the Standing Committee, which sets the PCC agenda and transacts business between PCC meetings. The Standing Committee is also able to agree items of expenditure, within certain parameters, between PCC meetings and, in some cases, makes recommendations to the PCC on particular items.

The Safeguarding Officer ensures that the PCC has a Safeguarding Policy and supporting procedures, and that the Church takes seriously its responsibility for the care and nurture of children and vulnerable adults. She is a member of the PCC and assists the PCC in drawing up procedures and policies on safeguarding.

The Health and Safety Officer seeks to prevent accidents and injuries to those involved with the work of St Peter’s and those visiting the Church’s premises. His role is also to implement health and safety policies in accordance with the latest guidance working with the Standing Committee and PCC.

Objectives and activities

The PCC adopted the mission statement on behalf of the Parish:

Attracting, Engaging and Involving

The PCC has the responsibility of co-operating with the Incumbent, the Associate Priest, and the Licensed Lay Minister with the objective of promoting in the Parish the whole mission of the Church - pastoral, evangelistic, social and ecumenical. It ensures payment of the Parish’s contribution to the Parish ministry and Diocesan costs via the Parish Share, and has the responsibility for all the Parish’s assets, including its land and buildings: the Church, the Church Hall, St Peter’s Lodge and Vauxmead and the restricted funds it holds.

Each year the PCC has taken time away from its regular duties to strengthen its relationships and to think strategically but this was not possible in 2020. However, to assist with the organisation of the many activities carried out by St Peter’s Church, the PCC has reorganized its working Teams with each headed by a member of the PCC and they are responsible for executing the tasks that the PCC has determined,. They operate under terms of reference which were also being updated in 2020 but have yet to be approved formally, by the PCC. From July 2021, the Parish expects to have a curate in post to train and assist with our mission objectives.

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St Peter’s Church, Hersham Report and Proceedings of the Parochial Church Council

_________ The Teams which have been reformed in 2020 with three main Vision Groups of - Care, Grow and Share and will report to the PCC on a six-monthly basis, the schedule of which is set at the start of every calendar year. With these Strategic Groups, the Teams are now as follows:

The Groups/Teams are supported by the teams that will run the day-to-day or one-off activities including the following:

The PCC has given due regard to guidance issued by the Charity Commissioners in deciding what activities the Church should undertake and has complied with the Charity Commission guidance on public benefit and with Section 4 of the Charities Act 2011. The report of the Proceedings of the Parochial Church Council during 2020 can be viewed on the Church’s web site.

2020 has been an intensely difficult year for St Peter’s Church with the lockdowns imposed in March due to Covid19. The church team led by the Vicar, Reverend Jackie Richardson, made amazing steps and changes to learn to video and record services and release them onto the internet for the congregation and Hersham public at large to view them. In due course, the church was allowed to open for individual visit for prayer and reflection before services could recommence with social distancing until the new lockdown in November. The popular Music to Calm your Soul was also recorded and released onto the internet. A grant has been obtained from the Charity of Phillip Charles to pay for a telephone line to be installed into the church for an internet router, to allow live video to be broadcast for services, choral concerts, services, and other activities. A second grant is being sought to provide a simple means to video them so that members of the congregation can control it.

Foodbank

St Peter’s Hersham PCC gives the Walton and Hersham foodbank legal, accounting and statutory service to backup its role as a lead organization in the Walton & Hersham parishes where demand for its services grew significantly higher during 2020. The PCC remains pleased to be part of this work together with the valued input of Walton Charities through their Manager, Mrs Nina Malyon.

During 2020 in excess of 4,390 people were helped and 1,591 parcels issued, whilst last year, 3,008 people were helped, an increase of 46%. All these people have been referred to the foodbank via its referral partners and even in the midst of the first lockdown 'panic', all those receiving food met necessary criteria of being in financial hardship without the means to buy food.

Most referrals were from Rentstart, a local charity which supports those who are homeless or under threat of homelessness with the second highest number of referrals coming via Citizens Advice Bureau in Walton. Unfortunately, there is an increase in the amount of people who are using the foodbank more than once mainly due to the 5 week wait for Universal Credit, as well as many people who never thought they would need the services of a foodbank.

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St Peter’s Church, Hersham Report and Proceedings of the Parochial Church Council

_________

Over 40 metric tonnes of donated food has been received and distributed, and this includes bulk donations from Tesco, Sainsburys, Waitrose and Morrisons as well as lots of private donations and of course the local street collections which have given many local communities the opportunity to come together and support a local cause. The physical hard work by volunteers in receiving, sorting, moving and packing all this food should not be underestimated. The community has also responded in unimagined generosity in cash donations which in 2020 totaled a staggering £91,527.

Safeguarding

Much work was again done during the year on the issue of Safeguarding as this matter continues to be at the heart of the work of the PCC, especially in view of the adverse report against the historic response of the Church of England published in 2020.

On the basis of the report produced by the Safeguarding Officer, the PCC confirmed that it should again adopt the Church of England “Promoting a Safer Church” Policy Statement along with the national policies and practice guidance approved by the House of Bishops. This policy statement actively underpins all safeguarding work within the Church.

During the year, the Safeguarding Officer completed the review of all volunteers and helpers, in all capacities, with a view to ensuring that those who should hold all the necessary approvals have undertaken appropriate training. This forms the bedrock of policy and procedure for Safeguarding within the Parish. In February 2020 one member of the PCC who had not completed his renewal course was suspended in line with this policy and in June 2020 all then members of the PCC received training on safe recruitment.

Vauxmead

As Managing Trustee of Vauxmead, the PCC continues to seek to enhance and improve the facilities of Vauxmead, an open space field used for sports for young people and community events. The site is considerably tidier than it has been for many years and, through its Vauxmead committee, the PCC seeks to encourage increased use of the land and buildings. The Burwood Pre-School currently rents from the PCC the St Peter’s Institute building on Vauxmead and in April 2020 renewed its lease for a further 4 years The Guides rent land for their building and the Foodbank uses the garage on license, as a storage for food and provisions. Hersham Football and various groups hire the field for their use. The involvement of these groups serves the dual purpose of serving to make Vauxmead and its buildings more than self-sufficient from a financial point of view and also supporting and enhancing its local community links.

Other Areas

In addition, the PCC also:

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St Peter’s Church, Hersham Report and Proceedings of the Parochial Church Council

_________

The Future

During 2021, the PCC will be applying the funds from the bequests towards work of the new Team Structure with the objective of improving how we address the core values of St Peter’s, namely, to be Attracting, Engaging and Involving , concentrating on numerical and Spiritual growth and reaching out to our community.

Management of risk

The PCC continues to identify and manage the risks which arise from its day-to-day activities. The PCC views those risks under the headings of strategic, financial and operational, governance and regulation and reputational. In the Guildford diocese several churches have had significant difficulties in meeting their financial commitments and the Diocese had had to give significant support to them, and sell assets to raise funds. The giving by St Peter’s congregation has maintained the church’s unrestricted funds which will meet its future commitments until December 2021. The significant bequests have improved the position, hopefully, until normality can perhaps return with the Vaccine roll out.

Areas of risks are brought to the attention of the PCC for review as a part of the standing agenda over the year and any changes required are minuted and actioned. The major areas on the regular agenda for consideration are the following:

The PCC is pleased to report that, in 2020, other than the problems resulting from Covid-19, no other major adverse risk events arose. Despite the severe impacts arising from Covid 19 virus, and the significant financial consequences, the Annual Parochial Annual Meeting was held on 24[th] October and a number of new PCC members were appointed. On 18[h] March 2020 the Archbishops made the decision that churches must close both for private worship and public services. Our church buildings therefore closed for activities except for vital community services such as the foodbank until lockdown restrictions were reduced. However the January 2021 lockdown has forced us to close the church for worship due to the virulent nature of the new Covid strain.

In the light of the need for social distancing measures, PCC meetings continue to be held in 2020 through Zoom. Using software such as Zoom and the new ChurchSuite Admin System, the vicar and her team have been finding creative ways of staying in touch with parishioners and vitally, those who are isolated and vulnerable, in order to give them spiritual and practical support.

Financial results of activities

The Treasury Team reports to the PCC for overall stewardship of the financial resources. The team’s normal activities range from giving financial guidance, to assisting the PCC in the assessment of its budgets, the disposition of assets and fund raising, through to the day-to-day accounting for income and expenditure. This includes the preparation of annual budgets and quarterly accounts for review by the PCC.

During the last year, the team also undertook the following:

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St Peter’s Church, Hersham Report and Proceedings of the Parochial Church Council

_________

The total voluntary activities of the PCC, the various Teams and their members and many other volunteers are considerable and assure the efficient operation of the church and its activities.

The detailed Financial Statement of Income and Costs is reported as a separate statement this year as it is not a requirement of the Accounts reported to the public. However, it is attached to the reports available to the Congregation members.

In 2020, our voluntary unrestricted income reduced by 10% as follows:

2020 2019
2018
Voluntary income* £77,114 £85,561 £88,978
% (Dec)/Inc (10)% (3)%

*Excluding restricted sundry donations, fund raising, legacies and gifts-in-kind, but including the attributable tax benefit.

In 2020, our Income (excluding Vauxmead and the Foodbank) of £122,283 decreased overall by £58,605, down by 32%, compared with 2019 due to the net effect of the following:

In 2020, our expenditure (excluding Vauxmead and the Foodbank) of £163,008 decreased overall by £39,552, which is 19% down compared with 2019. The more significant movements year-on-year, were as follows:

No of services 2020 2019
Weddings 2 6
Funeral services 23 19

As mentioned above the donations made by Hersham Residents, Elmbridge and Surrey council, corporate donations, schools and others towards the Foodbank has been absolutely astounding to the tune of £91,257. All of these donations are restricted funds which can only be put towards the foodbank’s activities.

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St Peter’s Church, Hersham Report and Proceedings of the Parochial Church Council

The unrestricted activities of the PCC recorded a net deficit of £40,724. There was however a surplus on restricted activities of Vauxmead of £21,889 and £64,084 for the Foodbank. The resulting overall total net income of £45,249 was before gains of £2,004 on the Endowment funds held as investment assets and a loss of £10,000 on the devaluation of the Lodge.

Looking forward, the PCC approved in November 2020, the unrestricted church budget for 2021 that showed an overall deficit of £83,798 for the PCC’s own activities before taking account of a surplus on the Vauxmead activities of £21,945 and before any large one-off costs which may arise. This was compiled before the bequests were notified to the church, such that a review will be undertaken in 2021 from the impact of vaccination and matters getting back to previous positions. Procedures have been put in place to closely monitor the financial position of the church now that the accounting system is more responsive.

The financial budget for 2020 for the foodbank also anticipated a surplus of £1,609, but this was based on previous levels of donations and it remains to be seen how 2021 will continue to respond in public and corporate generosity. A foodbank expenditure budget for 2021 has been approved by the Foodbank Management Committee.

This budget recognized that the PCC’s financial position remained reasonably strong compared to other churches in the diocese and the bequests have improved matters. There remains the possibility of unforeseen costs on property and the overall effects of the Covid-19 virus in 2021 which cannot yet be estimated.

The PCC recognizes that it will need to continue to manage the finances closely. On this basis, as that the PCC believes that it has sufficient financial resources to meet its currently anticipated needs, these financial statements have been prepared on a going concern basis.

Policy on reserves

The PCC retains a range of unrestricted and restricted funds which are described in Notes 22-23 of the Financial Statements. The Reserve Fund is the PCC’s general reserve and is held to cover its day-to-day activities.

The Property Development and Improvement Fund is established to provide for the expected costs of evaluating intended improvements to Church buildings and other PCC property. No significant expenditure was made in 2020 but a group has been set up to consider the strategic options for the church.

The Property Repair Fund is an amount set aside to cover quinquennial Church repair or other property costs such as to St Peter’s Lodge, a residential investment property, or to the vicarage. The PCC expects that this reserve will be used within the next four years to cover roofing, refurbishment and other costs although it will be replaced as the PCC sees fit, dependent on future building plans. The accrual held in 2019 accounts of £6,940 has been released into the general reserve, as the internal repairs of the church’s south aisle roof will be prioritized with other property works in a Property & Fabric repair plan, following a transfer to this fund in 2019 of £15,000.

The Revaluation Reserves in the past relate to revaluation surpluses arising on the Church Hall building and St Peter’s Lodge, this year the Estate Agents for the lodge have reduced its valuation by £10,000. It is the current intention of the PCC to retain these properties for its own use as investment properties and to generate rental income, both of which are important to the PCC’s activities. Therefore, this fund will remain for the foreseeable future dependent on any future decisions about the disposition of properties by the Strategic & Property team.

In 2020, the PCC has benefitted from the surplus arising from the management of the Vauxmead site by £21,889 (2019: £17,904).

The PCC’s approach to the management of its reserves is conservative but consistent with the requirement to use its resources to fund its activities to meet its vision. The policy on reserves is reviewed each year at the time of approving the financial statements.

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St Petef s Church, Hersham Report and Proceedings of the Parochial Church Council Inveslment pollcy The pollcy of the PCC has been to Invest su￿lUS funds in Iow4isk inter8st-b8aring inv8stments which provide flexlblllty wlthout penalty arKI which meet ethical criteria c>)nsist6nt wrfh the PCC'S vision. Th8 PCC has never Invested 8uWus funds in higher rfsk Investrnents such as equities or I￿4￿n corporate bonds. In 2019, th8 Treasury Team continued to use 12 rn￿th fixed temi deposits and with approval from the PCC. with reccgnised Institut￿￿$ of sultable standlng. Hmver. in 2020 these deposlts have not bean rdled over due to extremely low interest rales that are on offer. Swplu8 l￿d3 are belng on deposlt wlth Lh)yds p8ndlng a re¢o¥ery In intere8t rates. The Treasury Team also regularly revlm the level of fvnds in its current aLxount to ensure that mon8y is readlly available to meet our day-ttrday needs. In November 2019 the PCC agreed that funds up to a maximum of £7,000 that were held in excess of expect•J needs, V￿UkI b8 llivestod with B(y)m CU. a flnanci81 ¢>werativo whlch makes k)ans and operates wlthln wr o)mmunity. h￿pIng wople In financial difficulty avoid high interest lender8 loan sharks. BC￿ CU are 8 not for wofrt cryanisalion covfr￿d by the Financial SeNicés Compensatknn Schem8 and In D8¢anknr 2020 ther9 V•we 47 pwie In tho KT12 pthl area maklng u88 of Boom CU. MIMlon •upport donatlon8 The ongolng of the PCC is to donate each year an aff￿nt equal to a proportion (currently, a mlnlmum of 12.5%) of Its budgeted voluntary knr%¥n8 from regular gMn9 Ilnd Grft Ahjl, for the work of Chrfstlan mlsslon outslde the p8rlsh. both abr08d and In Ihe UK. It had WeV￿81Y boen deckled by tha PCC that nolwilh8tanding any reduced level of gfvln9, the ar[￿nts set asldo for m1881on supwt should Mt be reduced below thelr pr8vlous levels. Th18 year the PCC has donated at an eff8Ctfve rats of 14% (2019.. 12.6•hl of voluntary regular InL)Jne and related Glft Ald. A por•on•l n¢t• from th• Vlcar On b8hall of PCC. l thank eVory￿ Invotr￿d h the dlffernnt bYOUP8 and teams that make up th8 St Peterfs famlly. Th6 min18ty team and wardens appreclate ts partth8t ofycw play In mlnbsty and m188lon ofour church. As I writs this note. the publlc h8alth k)ck down me8sur8s during th8 Covld-19 pandemlc. In whlch all worshlp and public s8rvirA$ have been problemats, have continued into 2021. We hopo they are due to b8 eased durfng the remainder of 2021 wlth vacanation urthrway and ￿11 all￿ u8 to rethlntrodu¢e worshlp and full o)mmunlon In St Peterf$. During the pandemic we have had to find new ways of'being a dwr¢h' In our community and wo had c¥)ntinu8d wcshlpping together online and I￿r￿1 new ways of 8t8ying In wlth the congregation and c>ynmunty. This h88 gNen us a re81 opportunty to expkxe V•P mlnthr In the future a8 contlnuo to 8tr1v• to Show God's love and INe out God's VI￿on in our parth. Signed on behalf of thè P 81 Church Cwndl. R•vd. Jacklo Rlehwdvjn Chair of PCC Awll 2021 10

St Peter’s Church, Hersham Statement of Responsibilities of the Members

_____________

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year.

In preparing financial statements giving and true and fair view, the Trustees should follow best practice and:

  1. Select suitable accounting policies and apply them consistently; make judgements and estimates that are reasonable and prudent;

  2. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;

  3. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;

  4. Prepare the financial statements on the going concern basis unless it is inappropriate to presume the Charity will continue in operation.

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and which enable them to ensure that the financial statements comply with applicable regulations.

The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

11

St Peter's Church, Hersham Independent Examiner's Report Independent Examlnefs Report to the Members as Trustees of St Petsfs Parochlal Church Councll I report on the accounts ofthe Trusl for the year ended 31 December 2020, which are set ￿t on pages 13 to 19. Ive res nsibilit. nd min The Charrty's Trugtee8 are responsible for the preparatlon of the accounts. Th8 Charltys Truste8s consider that an aud￿ is not required for this year under sectlon 144121 of the Chariti8s A¢t 2011 {the°2011 Acri and that an independent examination is needed. It 1$ my responslbility to: examine the accounts under se¢tlon 145 of the 2011 Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515) (b) of the 2011 Act). and lo stste whether particular matters have come to my attention. My examinatitsn was Carried out in accordance with general Dire¢lion$ glven by the Charity Commlsslon. An examination includes a review of the a¢¢ounling records kept by the Charlty and a comparison of the accounts presented with those records. It also indudes consideration of any unusual items or dlsc108ures In the accounts and seeklng explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the eviden¢e that would be requI￿d in an aud¢t, and consequentty no opinion is given as to whether the accounts p￿sent a Irue and fairf view and the report is limited to th08e matters set out in the statement below. Indepgndont •xamIne￿8 stat•mont In ¢onnection with my examlnation. no matter has Come to my attention: which gives me reasonable ￿uSe to believe that in. any material respect: tho acwunting records werg rtot kept in accordance with Section 130 of the Charitie$ Act, or the aC￿UnIS did not accord wlth th8 accounting re¢ords' or the acc4)unts did not comply wlth the applicable requirements ￿ncemIng the fr)￿ and content of accounts set out in the Cha￿tieS (Accounts and Reports) Regulations 2008 other than any quiTrment that the accounts give a Irue and fal¢ vlew which is not a matter Considered as part of the independent examlnation. 2. to which, in my opinion, attentlcffi should b8 drawn in order to 8nabSè a proper understsnding ofthe accounts to be reached. Fran¢e$ Wilde FCCA MBA DChA Wamer Wilde Limf(ed Chartered Certified Accountsnts and Registered Audltors 4 Marigold Drive 8isley Surrey GU24 9SF Date: io May 2021 12

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
Restricted Endowment
funds
funds
funds
2020
2020
2020
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
76,407
219,427
-
Charitable activities
4
9,493
-
-
Investments
5
32,289
34,973
-
Other income
6
465
270
-
Total income
118,654
254,670
-
Expenditure on:
Raising funds
7
4,659
-
-
Charitable activities
8
154,720
118,870
-
Total resources expended
159,379
118,870
-
Net gains/(losses) on investments
13
-
-
2,004
Net (outgoing)/incoming resources before
transfers
(40,725)
135,800
2,004		 TotalUnrestricted
Restricted Endowment
funds
funds
funds
2020
2019
2019
2019
£
£
£
£
295,834
92,066
55,551
-
9,493
22,884
-
-
67,262
53,609
37,122
-
735
5,327
-
-
373,324
173,886
92,673
-
4,659
9,323
-
-
273,590
185,976
74,429
-
278,249
195,299
74,429
-
2,004
-
-
1,138
97,079
(21,413)
18,244
1,138		 Total
2019
£
147,617
22,884
90,731
5,327
266,559
9,323
260,405
269,728
1,138
(2,031)

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

Net (outgoing)/incoming resources before
transfers
Gross transfers between funds
Net (outgoing)/incoming resources
Other recognised gains and losses
Revaluation of tangible fixed assets
Net movement in funds
Fund balances at 1 January 2020
Fund balances at 31 December 2020		 (40,725)
22,629
(18,096)
(10,000)
(28,096)
1,214,849
1,186,753		 135,800
(22,629)
113,171
-
113,171
268,454
381,625		 2,004
-
2,004
-
2,004
57,679
59,683		 97,079
-
97,079
(10,000)
87,079
1,540,982
1,628,061		 (21,413)
17,904
(3,509)
10,280
6,771
1,208,078
1,214,849		 18,244
(17,904)
340
-
340
268,114
268,454		 1,138
-
1,138
-
1,138
56,542
57,680		 (2,031)
-
(2,031)
10,280
8,249
1,532,734
1,540,983

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

All income and expenditure derive from continuing activities.

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL BALANCE SHEET AS AT 31 DECEMBER 2020 2020 2019 Nots5 Flxed assets Tangible assets Investment properties Investments 14 15 16 533.793 786.500 59,682 536,486 796.500 57,679 1,379,975 1,390,668 Current as80ts Stocks Debtors Cash at bank and in hand 17 18 250 14,336 246.544 250 13,541 155,105 261.130 168,896 Creditors: amounts falllng due ￿7th1￿ one yèar 19 {13,044} {18,578) Net current assets 248,086 150,318 Total as80ts Itss wrront Ilabllltles 1,628,061 1,540,983 Capitsl fvnds Endowment fund$- general In¢omg funds General r￿tricted funds Revalualion reserye 21 59.683 57,680 149.625 232,000 36.454 232.000 22 381,625 268,454 General Lfnrestricted funds Revaluatl(M re8eNe 98,753 1.088.000 116,849 1,098,000 1,186.763 1,214,849 1,628,061 1.540.983 The financial statements ￿ere approved by the PCC Members on ........... 15-

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

St Peter's Hersham Parochial Church Council is a charity registered with the Charity Commission and a part of the Church of England established by the Parochial Church Council's (Powers) Measure 1956 as amended by the Church Representation Rules.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Parochial Church Council'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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Parochial Church Council is a Public Benefit Entity as defined by FRS 102.

The Parochial Church Council 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 Parochial Church Council. 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 PCC members have a reasonable expectation that the Parochial Church Council has adequate resources to continue in operational existence for the foreseeable future. Thus the PCC members continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the PCC members in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are 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 Parochial Church Council.

1.4 Income

Income is recognised when the Parochial Church Council is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Parochial Church Council 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.

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the Parochial Church Council 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

A liability is recognised when either a legal or constructive obligation is identified.

Mission Support

Donations are accounted for when paid or awarded, if that award created a binding obligation on the PCC.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings straight line basis over 50 years (buildings only) Plant and equipment straight line basis over 4 years Fixtures and fittings straight line basis over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.

1.9 Impairment of fixed assets

At each reporting end date, the Parochial Church Council reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

1 Accounting policies

(Continued)

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The Parochial Church Council has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Parochial Church Council's balance sheet when the Parochial Church Council becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Parochial Church Council’s contractual obligations expire or are discharged or cancelled.

1.13 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 Parochial Church Council is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

1 Accounting policies

(Continued)

1.15 Associated Organisations

Associated organisations are St Peter's Fellowship, Little Gems, Walton & Hersham foodbank (The 'foodbank') and Vauxmead Trust ('Vauxmead'). Surpluses/deficits arising from these activities are applied for the key purpose of each.

Their accounts are included as a part of these PCC accounts. St Peter's Fellowship is an organization of members of the congregation which undertakes its own fund raising and incurs costs , including charitable donations, pursuing activities in line with the broader purpose of St Peter's Church. The PCC assumes responsibility for the activities of "Little Gems", a playgroup for pre-school children and their carers, raising money by subscriptions for attendance and other activities, including charging for refreshments, arts and crafts and other activities consistent with the purpose of Little Gems. The foodbank is a partner - through the PCC - of the Trussell Trust, whose network provides three days of emergency food to men, women and children in crisis.

The foodbank is supported by St Peter's PCC, the Walton Charity and St Mary's and St John's and also by local charitable giving by individuals, other local churches and local businesses. The PCC holds as trustee the land of the Vauxmead Trust for the benefit of young people to use for sports activities. The net surplus each year arising from Vauxmead is available to the PCC for its general purposes .

2 Critical accounting estimates and judgements

In the application of the Parochial Church Council’s accounting policies, the PCC members 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
2020
2020
£
£
Donations and gifts
76,407
97,411
Legacies receivable
-
49,827
Donated goods and
services
-
72,189
76,407
219,427		 TotalUnrestricted
Restricted
funds
funds
2020
2019
2019
£
£
£
173,818
87,066
15,553
49,827
5,000
-
72,189
-
39,998
295,834
92,066
55,551		 Total
2019
£
102,619
5,000
39,998
147,617

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

4 Charitable activities

PCC fees,
PCC fees,
GEMS and
GEMS and
St Peter's
St Peter's
Fellowship
Fellowship
2020
2019
£
£
Sales within charitable activities 9,493
22,884
Investments
Unrestricted Restricted
Total		 Unrestricted
Restricted		 Total
funds funds funds
funds
2020 2020
2020		 2019
2019		 2019
£ £
£		 £
£		 £
Rental income 31,582 33,015
64,597		 52,519
34,793		 87,312
Interest receivable 707 1,958
2,665		 1,090
2,329		 3,419
32,289 34,973
67,262		 53,609
37,122		 90,731
Other income
Unrestricted Restricted
Total		 Unrestricted
funds funds funds
2020 2020
2020		 2019
£ £
£		 £
Other income 465 270
735		 5,327
Raising funds
Unrestricted Unrestricted
funds funds
2020 2019
£ £
Fundraising and publicity
Staging fundraising events - 2,039
Advertising 50 344
Fundraising and publicity 50 2,383

5 Investments

6 Other income

7 Raising funds

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

7 Raising funds
Trading costs
Other trading activities
Investment management		 (Continued)
-
525
4,609
6,415
4,659
9,323

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

8 Charitable activities

Ministry Worship &
Prayer
Church &
Vicarage
Upkeep Hall
& Lodge
Walton &
Hersham
Foodbank
Vauxmead
2020
2020
2020
2020
2020
2020
£
£
£
£
£
£
Staff costs
-
-
-
542
-
-
Depreciation and impairment
-
-
369
5,230
-
1,714
Parish Pledge
78,911
-
-
-
-
-
Clergy expenses including training
1,855
-
-
-
-
-
Upkeep of services
-
6,054
-
-
-
-
Diocese fees
-
-
-
-
-
-
Pastoral care
249
-
-
-
-
-
Occasional offices
4,772
-
-
-
-
-
Christian development - courses and groups
2,531
-
-
-
-
-
Food donated and purchased
-
-
-
-
73,467
-
Storage
-
-
-
-
6,366
-
Professional fees
-
-
-
-
-
1,020
Subscriptions
-
-
-
767
-
-
Utilities
-
-
4,570
2,043
-
-
Repairs and maintenance
-
-
(4,777)
1,396
-
6,096
Insurance
-
-
5,259
1,036
-
-
Other expenses
-
-
75
185
14,912
26
88,318
6,054
5,496
11,199
94,745
8,856
Grant funding of activities (see note 9)
12,469
-
-
-
-
-
Share of support costs (see note 10)
33,521
-
-
-
9,102
2,540
Share of governance costs (see note 10)
1,290
-
-
-
-
-
135,598
6,054
5,496
11,199
103,847
11,396		 Total
2020
£
542
7,313
78,911
1,855
6,054
-
249
4,772
2,531
73,467
6,366
1,020
767
6,613
2,715
6,295
15,198
214,668
12,469
45,163
1,290
273,590		 Total
2019
£
780
9,477
76,986
2,159
7,528
3,192
425
2,850
10,185
40,508
862
5,246
899
9,686
21,062
9,095
2,572
203,512
16,182
37,184
3,527
260,405

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

8 Charitable activities

Charitable activities
Analysis by fund
Unrestricted funds
Restricted funds		 133,929
1,669
135,598		 6,054
-
6,054		 4,130
1,366
5,496		 10,607
592
11,199		 -
103,847
103,847		 -
11,396
11,396		 (Continued)
154,720
185,976
118,870
74,429
273,590
260,405

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

8 Charitable activities

(Continued)

For the year ended 31 December 2019

Ministry Worship &
Prayer
Church &
Vicarage
Upkeep Hall
& Lodge
Walton &
Hersham
Foodbank
Vauxmead
£
£
£
£
£
£
Staff costs
-
-
-
780
-
-
Depreciation and impairment
-
-
1,961
5,280
2,236
-
Parish Pledge
76,986
-
-
-
-
-
Clergy expenses including training
2,049
110
-
-
-
-
Upkeep of services
-
7,528
-
-
-
-
Diocese fees
3,192
-
-
-
-
-
Pastoral care
425
-
-
-
-
-
Occasional offices
2,850
-
-
-
-
-
Christian development - courses and groups
10,170
15
-
-
-
-
Food donated and purchased
-
-
-
-
40,508
-
Storage
-
-
-
-
862
-
Professional fees
752
-
-
-
-
4,494
Subscriptions
-
-
-
899
-
-
Utilities
-
-
6,986
2,700
-
-
Repairs and maintenance
-
-
5,918
5,804
-
9,340
Insurance
-
-
7,689
1,406
-
-
Other expenses
60
-
29
501
1,982
-
96,484
7,653
22,583
17,370
45,588
13,834
Grant funding of activities (see note 9)
16,182
-
-
-
-
-
Share of support costs (see note 10)
34,129
-
-
-
-
3,055
Share of governance costs (see note 10)
3,527
-
-
-
-
-
150,322
7,653
22,583
17,370
45,588
16,889		 Total
2019
£
780
9,477
76,986
2,159
7,528
3,192
425
2,850
10,185
40,508
862
5,246
899
9,686
21,062
9,095
2,572
203,512
16,182
37,184
3,527
260,405

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

8 Charitable activities

Charitable activities
Analysis by fund
Unrestricted funds
Restricted funds		 140,699
9,623
150,322		 7,653
-
7,653		 20,958
1,625
22,583		 16,666
704
17,370		 -
45,588
45,588		 (Continued)
-
185,976
16,889
74,429
16,889
260,405

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

9 Grants payable

Grants to institutions:
Other
-
Support costs
Support
costs
Governance
costs
£
£
Staff costs
27,334
-
IT software and small
consumables
6,229
-
Stationery
-
-
Telephone and
broadband
-
-
Photocopier
-
-
Office expenses and
administration
11,641
-
Bank and finance
charges
(57)
-
Other support expenses
15
-
PCC expenses
-
-
Independent
Examination
-
1,290
45,162
1,290
Analysed between
Charitable activities
45,163
1,290		 Ministry
Ministry
2020
2019
£
£
12,469
16,182
2020
Support
costs
Governance
costs
2019
£
£
£
£
27,334
25,163
-
25,163
6,229
656
-
656
-
691
-
691
-
1,590
-
1,590
-
1,116
-
1,116
11,641
7,746
-
7,746
(57)
72
-
72
15
150
-
150
-
-
2,415
2,415
1,290
-
1,112
1,112
46,452
37,184
3,527
40,711
46,453
37,184
3,527
40,711

10 Support costs

11 PCC Members

The clergy and 5 members of the PCC (2019: 9) received payments during the year, these being the reimbursement of approved expenses and the payment of fees, the fees related to Verger duties, in accordance with a schedule of rates approved by the PCC. The aggregate amount of all payments to members of the clergy and PCC during the period of office in the year was £3,431 (2019: £5,688).

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

12 Employees

Number of employees

The average monthly number of employees during the year was:

2020 2019
Number Number
Administration & maintenance 1 1
Employment costs 2020 2019
£ £
Wages and salaries 26,068 24,240
Other pension costs 1,808 1,703
27,876 25,943

The average monthly number of employees during the year was 3 part time employees, which equates to 1.5 full time staff.

During the year the PCC employed a part-time parish secretary, an administrator for the Vauxmead property and a church cleaner. The associated costs are included within administration support, Vauxmead and church property expenses. GEMS also employed several hourly paid staff during the year, but ceased from the first lockdown in March 2020.

There were no employees whose annual remuneration was £60,000 or more.

13 Net gains/(losses) on investments

Endowment Endowment
funds funds
general general
2020 2019
£ £
Revaluation of investments 2,004 1,138

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

14 Tangible fixed assets

Freehold land
and buildings
Plant and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 January 2020
535,000
45,850
11,179
Additions
-
4,620
-
At 31 December 2020
535,000
50,470
11,179
Depreciation and impairment
At 1 January 2020
-
45,481
10,062
Depreciation charged in the year
5,230
1,524
559
At 31 December 2020
5,230
47,005
10,621
Carrying amount
At 31 December 2020
529,770
3,465
558
At 31 December 2019
535,000
369
1,117		 Total
£
592,029
4,620
596,649
55,543
7,313
62,856
533,793
536,486
15
Investment property
Fair value
At 1 January 2020
Net gains or losses through fair value adjustments
At 31 December 2020		 2020
£
796,500
(10,000)
786,500

Investment property comprises land and buildings at Vauxmead and St Peter's Lodge. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the PCC. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:

Cost
Accumulated depreciation
Carrying amount		 2020
£
735
-
735		 2019
£
735
-
735

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

15
Investment property
Estimated value of land:
Freehold
Long leasehold
Short leasehold
16
Fixed asset investments
Cost or valuation
At 1 January 2020
Valuation changes
At 31 December 2020
Carrying amount
At 31 December 2020
At 31 December 2019
17
Stocks
Finished goods and goods for resale
18
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 (Continued)
2020
2019
£
£
299,500
398,250
-
-
-
-
Listed
investments
£
57,679
2,003
59,682
59,682
57,679
2020
2019
£
£
250
250
2020
2019
£
£
9,161
10,124
5,175
3,417
14,336
13,541

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

19 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2020 2019
£ £
Accruals and deferred income 13,044 18,578

20 Retirement benefit schemes

Defined contribution schemes

The Parochial Church Council operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Parochial Church Council in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £1,808 (2019 - £1,703).

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

21 Endowment funds

Endowment funds represent assets which must be held permanently by the Parochial Church Council. Income arising on the endowment funds can be used in accordance with the objects of the Parochial Church Council and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Revaluations
Balance at		 Incoming Resources Transfers Revaluations Balance at
1 January 2019 resources expended gains and
1 January 2020		 resources expended gains and 31 December
losses losses 2020
£ £ £ £ £
£		 £ £ £ £ £
Permanent endowments
E S Blake
Legacy 17,089 - - - 342
17,431		 - - - 605 18,036
G J Christian
Legacy 39,453 - - - 795
40,248		 - - - 1,399 41,647
56,542 - - - 1,137
57,679		 - - - 2,004 59,683

The earliest available valuation of these funds was 31 December 2005, when the Blake investments were valued at £17,684 and the Christian investments at £40,834.

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

22 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 2019

£
Mothering sunday
662
WH Spencer Legacy
740
E S Blake Legacy
-
G J Christian Legacy
-
The Foodbank
26,495
Vauxmead
-
Other and Special Donations
8,217
Revaluation Reserve (Vauxmead)
232,000
Charles Sparkes Trust
-
268,114		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
-
-
704
(704)
1,625
(1,625)
50,878
(50,279)
34,793
(16,889)
4,673
(4,932)
-
-
-
-
92,673
(74,429)		 Transfers
Balance at
1 January 2020

£
£
-
662
-
740
-
-
-
-
-
27,094
(17,904)
-
-
7,958
-
232,000
-
-
(17,904)
268,454		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
-
-
592
(592)
1,366
(1,366)
167,931
(103,847)
33,285
(11,396)
1,669
(1,669)
-
-
49,827
-
254,670
(118,870)		 Transfers
Balance at
31 December
2020
£
£
-
662
(740)
-
-
-
-
-
-
91,178
(21,889)
-
-
7,958
-
232,000
-
49,827
(22,629)
381,625

The Charles Sparks Trust donation is a fund for assisting aged and young people and its planned use is the appointment of a part time youth worker for the Hersham Community and Schools.

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

23
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2020
2020
2020
£
£
£
Fund balances at 31 December 2020 are
represented by:
Tangible assets
533,793
-
-
Investment properties
494,818
232,000
59,682
Investments
59,682
-
-
Current assets/(liabilities)
98,461
149,625
-
1,186,754
381,625
59,682		 TotalUnrestricted
funds
2020
2019
£
£
533,793
536,486
786,500
506,821
59,682
57,679
248,086
114,604
1,628,061
1,215,590		 Restricted
funds
Endowment
funds
2019
2019
£
£
-
-
232,000
57,679
-
-
35,714
-
267,714
57,679		 Total
2019
£
536,486
796,500
57,679
150,318
1,540,983

ST PETER'S HERSHAM PAROCHIAL CHURCH COUNCIL

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

24 Related party transactions

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