St. Peter’s Church
LORD’S MEAD, CHIPPENHAM, SN14 0LL
Journeying together to share our Christian faith and the love of God with all.
FINANCIAL STATEMENTS
Year ended 31 DECEMBER 2020
CHARITY NUMBER 1131473
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
Reference and Administrative Information
| Charity name: | St. Peter’s Church Chippenham | |
|---|---|---|
| Charity number: | 1131473 | |
| Principal office address: |
St. Peter’s Church Lord’s Mead Chippenham Wiltshire SN14 0LL |
|
| Charity trustees at date of approval: |
Ex-Officio members: Priest in charge: Church warden: Deanery Synod representatives: Elected members: Co-opted members: |
Reverend Andrew Gubbins (Chairperson) Mr. Robin Wildblood Mr. Robin Wildblood Mrs. Ruth Pfunder Ms. Hayley Barnden Mrs. Daphne Brindle Mrs. Sue Burt Mrs. Vivienne Fuller Ms. Sharon Hawker-Baddeley (Secretary) Mr. Ivan Hurcum Mr. Matthew Hurcum Mrs. Ruth Pfunder Mr. John Sumbler Mr. David Turnbull (Treasurer and Vice Chairperson) Mrs. Bev Webb None |
| Former charity trustees who served during the financial year: |
Mrs. Deborah Cruse Mr. Rob Hobbs Mrs. Caroline Masters |
1
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
Financial Review
Summary:
The finances of St. Peter’s were severely affected by the Covid19 pandemic during the lockdown restrictions in the Spring and Summer, and again in November. This had an immediate impact on our two main income streams of Voluntary Giving and Hall/Room rentals. Mitigation was sought from, and approved by, the Diocese in the form of reduced Parish Share which enabled us to remain financially viable.
Income:
The vast majority of our regular giving was maintained through existing and new standing orders. Although there was some shortfall whilst the church was closed, much of this was made up following appeals to the congregation in May and August. Great loyalty was demonstrated and overall Voluntary Giving was maintained at the 2019 level.
Hall/Room lettings income took a major hit from April through to September with our both our major tenants forced to close and all other bookings ceasing. The loss of expected rental income during the lockdowns was somewhat masked by late received income in January. An attempted insurance claim for the lost income was ultimately unsuccessful despite a High Court test case. Fund-raising activities were severely curtailed, and the absence of Summer and Autumn Fairs were keenly felt.
Expenditure:
A reduction in monthly Parish Share was negotiated in the Spring to equate to the net loss of Hall/Room rental income net of the reduced cleaning costs. This reduced the monthly outlay by over £2,000. Cleaning costs ceased during the enforced closure period, but were restored and increased during the gradual re-opening. Repairs & Maintenance continued to be a major drain on funds, but most heads of expenditure reduced in parallel with the lockdown restrictions. By the year-end, the accumulated shortfall in Parish Share actually paid against the start of year pledge had reached £15,930.
Deposit Account:
On the advice of the Bristol Diocesan Board of Finance, our deposit account, (previously designated as the “Fabric Fund”) was undesignated in order to become part of our liquid funds. At the same time, the financial advice was to set a “Minimum Reserve” equating to approximately three months of essential costs so that the church could remain solvent in the event of a total cessation of income. The minimum reserve was agreed at £8,000. The deposit account dwindled during the year, mainly because of our greatly reduced Hall and Room lettings. It was possible to pay back the usual temporary loan to the current account, and funds were sufficient before the first lockdown to transfer of the usual 5% of annual hall/room lettings income to this account.
Net Assets:
The decision to “undesignate” the former Fabric Fund gave us much more liquidity. The proportion of the £42,465 net assets held in restricted/ designated funds consequently reduced from 90% in 2019 to 74% in 2020. Much of this is held in the Cornerstone Fund which is not available for everyday church expenditure.
Conclusion:
A challenging financial year in which, with the understanding and approval of the Diocese, we were able to maintain solvency by adjusting our Parish Share contribution in accordance with severely reduced income.
My thanks are due for the extensive contribution of Ivan Hurcum and Chris Gough to the Finance Team, and especially Ivan for weekly banking and in his role as Freewill Offering Secretary in compilation of our annual Gift-Aid reclaim from HMRC.
David Turnbull PCC Treasurer
2
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM: Donations and Legacies Regular giving Receipts from donors Planned Giving Collections other than planned giving Income tax recovered Grants Other Donations and Legacies (note 2) Income from Charitable Activities (note 3) Other Trading Activities Note 4) Income from Investments (note 5) TOTAL INCOME AND ENDOWMENTS EXPENDITURE ON: Expenditure on Charitable Activities (note 6) Parish Share Other Expenditure (note 7) Write back of prior year cheques not banked (note 8) TOTAL EXPENDITURE Net income/(expenditure) Transfers between funds Net movement in funds Add back net movement in unpresented cheques (note 8) Cash at bank and in hand 1stJan Cash at bank and in hand 31stDec |
Unrestricted Fund Unrestricted Designated Fund Restricted Funds (Note 9) Total 2020 Total 2019 £ £ £ £ £ 33,985 - - 33,985 31,857 3,438 - - 3,438 4,828 7,750 - - 7,750 8,881 - - - - - |
|---|---|
| 45,173 - - 45,173 45,566 18,402 - - 18,402 10,381 1,191 - - 1,191 6,840 28,006 - - 28,006 41,297 8 - 88 96 166 |
|
| 92,780 - 88 92,868 104,250 |
|
| 1,082 - - 1,082 3,905 51,990 - - 51,990 66,600 35,926 - 4,486 40,412 44,085 - - - - - |
|
| 88,998 - 4,486 93,484 114,590 |
|
| 3,782 - (4,398) (616) (10,340) (7,096) - 17,199 10,115 452 |
|
| (3,314) - 12,801 9,487 (9,888) 2,794 - - 2,794 1,880 15,229 - 18,678 33,907 41,915 |
|
| 14,709 - 31,479 46,188 33,907 |
The attached notes on pages 5 to 10 form part of these financial statements.
3
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
STATEMENT OF FINANCIAL POSITION
| Cash Funds HSBC current account HSBC deposit account CBF Cornerstone Fund Cash floats Total Assets Liabilities Unpresented cheques at year end (note 8) Net Assets |
Unrestricted Fund Unrestricted Designated Fund Restricted Funds (Note 9) Total 2020 Total 2019 £ £ £ £ £ 8,386 - 2,148 10,534 5,334 6,323 - 0 6,323 9,895 - - 29,061 29,061 18,383 - - 270 270 295 |
|---|---|
| 14,709 - 31,479 46,188 33,907 3,723 - - 3,723 929 |
|
| 3,723 - - 3,723 929 |
|
| 10,986 - 31,479 42,465 32,978 |
The attached notes on pages 5 to 10 form part of these financial statements.
Approved by the PCC on 18 March 2021 and signed on their behalf by Reverend Andrew Gubbins (PCC Chairman) and Mr David Turnbull (PCC Treasurer)
Reverend Andrew Gubbins
David Turnbull
4
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
1. Notes
-
(i) The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 and the Charities Act 2011. These financial statements have also applied the guidance from the new Charities SORP (FRS102) that is effective for all year ends from 31 December 2015 onwards and replaces the Charities Statement of Recommended Practice (SORP 2005).
-
(ii) These financial statements are prepared using the receipts and payments basis and as such exclude income earned during the financial year that have not been received as at 31 December as well as amounts owing from obligations entered into during the financial year for which payments have not been raised.
-
(iii) The funds specified on page 4 represent all the funds of the PCC including those which are subject to special restrictions regarding their use.
The St. Peter’s Fabric Fund (HSBC deposit account) was undesignated by the PCC in order to widen its usage from the previous sole use for development of the fabric of the church. Consequently, there is no current policy to transfer 5% of annual letting income to the Fabric Fund.
The PCC is committed to maintaining an £8,000 minimum reserve representing three months essential expenditure, which is held within the HSBC current and deposit accounts. The level of the minimum reserve will be decided annually by the PCC. It is a requirement to have a contingency plan to restore funds to the minimum reserve level should ever the situation arise. The PCC has agreed that this would be achieved by reducing the monthly Parish Share contribution until such time as the minimum reserve is restored.
-
(iv) Assets recognised but not valued in the Statement of Assets and Liabilities include:
-
Moveable church furnishings held by the Church Warden on special trust for the PCC and which require a faculty for disposal.
-
Other fixtures, fittings and office equipment of which the PCC is free to dispose of without faculty and where the original cost exceeded £1,000.
-
(v) In addition to the funds specified on page 4, there is a “Stent” deposit account used solely at the discretion of the Vicar and Church Warden. The PCC has no control over these funds and is not directly accountable for them. This is a ‘connected charity’ to St. Peter’s Church and is outside the scope of these financial statements.
-
(vi) Expenses paid to clergy may include a small immaterial proportion that relates to their function as PCC members. No other payments were made to PCC members.
5
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
2. Other donations and legacies
| Bequests (The late John Baker) Various donors for Cornerstone Fund Fund-raising Committee (Rest. Fund C) Sunday Coffee Fund net (Rest. Fund D) Wednesday Coffee Fund (Rest. Fund E) Friendship Club (restricted Fund F) Pastoral Committee LIGHT service (Restricted Fund H) Chippenham Lions for “Foodbox” Wiltshire Council for “Foodbox” Other donors for “Foodbox” South West Ambulance (defibrillator grant) Bev Webb (cakes) Bridge Club Rev J Hawkins P Hutton Over 50 Friends M Helps (re. Weston Village Gardening) Other donations 3. Income from Charitable Activities Fundraising for general purposes Summer fete Christmas fair Male voice choir concert Funeral collections for St. Peter’s Church Other Fundraising for specific purposes Children’s Society Olive Branch (from Wed Coffee Fund) Sightsavers Send a Cow Funeral donations for charities Presentations to clergy Lee Abbey Retreat Wiltshire Historic Churches Embrace the Middle East Christian Aid Well Boring Royal British Legion (Poppy Appeal) |
2020 £ 10,000 590 0 88 205 100 0 665 800 2,510 1,080 1,080 600 100 60 50 50 30 394 18,402 2020 £ 0 0 0 167 0 167 130 0 151 226 334 0 0 0 49 48 0 86 1,024 1,191 |
2019 £ 5,000 676 1,157 333 250 250 10 905 250 0 162 - - - - - - - 1,388 |
|---|---|---|
| 10,381 | ||
| 2019 £ 1,151 1,304 194 180 218 |
||
| 3,047 117 83 164 355 1,708 - 967 - 99 90 210 - |
||
| 3,793 | ||
| 6,840 |
6
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
4. Other trading activities
| Tom Metcalfe Centre rent Lord’s Mead Playgroup rent Other hall lettings Sheldon Road rental income Wedding fees Funeral fees “Peter Post” sales Sale of books Miscellaneous sales etc Insurance claims Photocopying 5. Income from investments Unrestricted Designated Funds £ Interest on Cornerstone Fund - Interest on Deposit Account 8 8 |
Tom Metcalfe Centre rent Lord’s Mead Playgroup rent Other hall lettings Sheldon Road rental income Wedding fees Funeral fees “Peter Post” sales Sale of books Miscellaneous sales etc Insurance claims Photocopying 5. Income from investments Unrestricted Designated Funds £ Interest on Cornerstone Fund - Interest on Deposit Account 8 8 |
2020 £ 7,463 12,294 6,176 1,449 45 419 0 123 9 0 28 28,006 Restricted Funds £ 2020 £ 88 88 - 8 88 96 |
2019 £ 13,166 12,600 7,069 1,378 264 2,570 - 167 87 3,953 43 |
|
|---|---|---|---|---|
| 41,297 | ||||
| 2019 £ 141 25 166 |
||||
| 8 |
6. Expenditure on charitable activities
| Send a Cow Sightsavers (to be paid in 2021) Children’s Society Olive Branch Counselling Chippenham Street Pastors Christian Aid Embrace the Middle East (paid in 2021) Well-Boring Funeral donations to charity Deanery Synod subscription Other |
2020 £ 226 0 279 50 50 48 0 0 419 10 0 **1,082 ** |
2019 £ 355 275 426 120 120 90 254 210 1,912 60 83 |
|---|---|---|
| 3,905 |
7
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
7. Other expenditure
| Clergy Expenses Expenses Visiting preachers Presentations to clergy Benefice fees Church Maintenance and Running Expenses Survey fees inc Quinquennial survey Electricity Gas Water rates Insurance Grass cutting Repairs and maintenance Imperial Cleaning Services Refuse collection Lightning conductor check Boiler servicing Fire extinguishers Fire alarm service Church Management and Administration New Photocopier (using burst pipe claim sum) Photocopier costs Conference expenses inc Lee Abbey retreat Postage Stationery Computer and software Telephone Support costs Copyright fees Organ and Piano tuning Purchases for use in services Organist fees Verger fees Flower expenses Pastoral Committee expenses LIGHT service (H) expenses Foodbox (I) expenses Youth Church expenses Kingfishers (Messy Church) expenses Defibrillator purchase Equipment purchases Other Transfer to CBF Cornerstone Fund Transfer to CBF Stent fund (Sheldon Rd rent) |
2020 £ 870 113 - 983 305 689 1,674 680 88 1,921 705 3,746 5,983 613 60 180 274 0 16,613 0 1,265 0 7 87 651 455 2,465 80 240 131 0 0 0 15 291 4,195 0 13 2,160 193 689 10,590 18,597 1,449 40,412 |
2019 £ 1,587 168 - |
|---|---|---|
| 1,755 951 5,491 2,108 2,075 84 1,884 705 4,916 9,519 677 60 - 357 - |
||
| 27,876 2,832 1,225 1,114 46 251 1,012 622 |
||
| 7,102 316 293 132 240 200 48 474 728 418 237 191 - 304 766 676 |
||
| 5,023 1,378 |
||
| 44,085 |
8
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
8. Unpresented cheques
| Unpresented cheques and cash as at 31 December 2019 Write back prior year cheques raised but never banked by payee 2019 cheques and cash presented during 2020 2020 payments raised by cheque not banked by payee at year end Royal British Legion (Poppy Appeal) Bristol Diocesan Board of Finance (Parish Share December) Dawson’s Steeplejacks (Lightning Conductor check) Caroline Masters (Altar requisites) Cash & Cheques received 31/12/2020 unbanked Total Net movement in unpresented cheques during 2020 Unpresented cheques and unbanked as at 31 December 2020 |
£ 929 |
|---|---|
| - (929) 79 3,570 60 14 0 3,723 |
|
| 2,794 | |
| 3,723 |
9
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2020
9. Restricted Funds
| estricted Funds | estricted Funds | estricted Funds | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Restricted Funds year-ended 31/12/2020 A Cornerstone Fund Balance at 1/1/2020 HSBC current account £0 CBF deposit account £18,383 Cash floats £0 £18,383 Donations £590 Other Voluntary Receipts £10,000 Interest received £88 Expenses £0 Transfers from/to unrestricted funds £0 Total movements in year £10,678 Balance at 31/12/2020 HSBC current account £0 CBF deposit account £29,061 Cash floats £0 Total Restricted Funds £29,061 |
B Flower Fund £0 £0 £35 |
C Fund Raising Cttee £0 £0 £0 |
D Sunday Coffee Fund £0 £0 £20 |
E Wed Coffee Fund £0 £0 £101 |
F F'dship Club £200 £0 £139 |
G Pastoral Cttee £0 £0 £0 |
H I LIGHT Service Food- box Totals £619 £760 £1,579 £0 £0 £18,383 £0 £0 £295 |
||
Balance at 1/1/2020 HSBC current account CBF deposit account Cash floats Donations Other Voluntary Receipts Interest received Expenses Transfers from/to unrestricted funds Total movements in year Balance at 31/12/2020 HSBC current account CBF deposit account Cash floats Total Restricted Funds |
|||||||||
| £18,383 £590 £10,000 £88 £0 £0 |
£35 £0 £47 £0 -£12 £0 |
£0 £0 £0 £0 £0 £0 |
£20 £71 £0 £0 -£3 -£88 |
£101 £0 £142 £0 -£18 -£205 |
£339 £0 £308 £0 -£167 -£100 |
£0 £0 £0 £0 £0 £0 |
£619 £760 £20,257 £665 £4,390 £5,716 £0 £0 £10,497 £0 £0 £88 -£291 £4,195 -£4,686 £0 £0 -£393 |
||
| £10,678 | £35 | £0 | -£20 | -£81 | £41 | £0 | £374 £195 £11,222 |
||
| £0 £29,061 £0 |
£0 £0 £70 |
£0 £0 £0 |
£0 £0 £0 |
£0 £0 £20 |
£200 £0 £180 |
£0 £0 £0 |
£993 £955 £2,148 £0 £0 £29,061 £0 £0 £270 |
||
| £29,061 | £70 | £0 | £0 | £20 | £380 | £0 | £993 £955 £31,479 |
Notes:
Restricted Funds in St. Peter’s are set out above. All the figures have been provided and confirmed by the designated organisers of the respective funds.
-
A. Cornerstone Fund: This Central Board of Finance account comprises various donations and fund-raising activities specifically for the “Cornerstone Project”. Includes a 2020 bequest of £10,000 specifically for repair of Peter Window. Professional fees incurred for Cornerstone are paid from this account.
-
B. Flower Fund: Cash transactions only.
-
C. Fund-raising committee: Cash transactions only: no events organised in 2020.
-
D. Sunday Coffee Fund: Cash transactions only. Donations to Church funds less expenses.
-
E. Wednesday Coffee Fund: Cash transactions only. Donations received for refreshments.
-
F. Friendship Club: Cash transactions only. Self-funded by members of the congregation for various social events. £100 donated to Church funds.
-
G. Pastoral Committee: Administered via HSBC current account.
-
H. LIGHT service: Administered via HSBC current account. Donations received fund the expenses incurred for transport for the disabled.
-
I. Foodbox: Various donations received from Chippenham Borough Lands, Wiltshire Council and others exclusively for Foodbox expenses for purchase of food and delivery costs in particular. .
10
Independent Examiner's Report to the Trustees of St. Peter's Church, Chippenham, Parochial Church Council
11