## 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