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 2021
CHARITY NUMBER 1131473
St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
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 wardens: Deanery Synod representatives: Elected members: Co-opted members: |
Reverend Andrew Gubbins (Chairperson) Mrs. Vivienne Fuller Mr. Robin Wildblood Mr. Robin Wildblood Mrs. Ruth Pfunder Ms. Hayley Barnden Mrs. Daphne Brindle Mrs. Sue Burt Mr. Ivan Hurcum Mr. Matthew Hurcum (Secretary) Mr. David Turnbull (Treasurer) None |
| Former charity trustees who served during the financial year: |
Mrs. Caroline Masters Mr. John Sumbler Mrs. Bev Webb |
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
Financial Review
Summary: 2021 was a year of slow recovery from the worst effects of the pandemic. Total income was still lower than in pre-lockdown 2019, whilst expenditure continued to rise. This produced financial challenges as unrestricted funds were severely constrained. FoodBox transactions increased dramatically, and accounted for 14% of both total income and total expenditure, which significantly affected comparison with previous years.
Income: Voluntary Giving showed a 5% reduction on both 2020 and 2019. Hall and Room lettings income, whilst 31% up on 2020, was actually 6% down on the 2019 figure when the Q1 2022 Tom Metcalf Centre rental fee of £3,340 (received in advance in December) is removed from the equation. Fund-raising for general church funds and Cornerstone was kept afloat through the efforts of many parishioners.
Expenditure: Most heads of expenditure such as cleaning costs rose after the restrictions of 2020, but a truer comparison with the pre-pandemic year of 2019 shows that overall expenditure has reduced, mainly because the restrictions carried on through significant periods of 2021. Our Parish Share contribution was much less than before the pandemic struck. A large proportion of repairs and maintenance expenditure was funded by transfers from the Cornerstone Fund and the former Stent Fund (see below).
Parish Share: Throughout the year a monthly calculation was necessary of the available liquid funds within the HSBC current and deposit accounts after payment of all invoices etc. A decision was then made on what was available for Parish Share whilst maintaining our £8,000 minimum reserve. (See Note 1 (iii)). Uneven cash-flow at different times of the year meant that we were not often able to pay our full £5,000 monthly pledge, but were able to catch up when the HMRC Gift-Aid tax rebate was secured in May. This approach was approved by the PCC and much appreciated by the Diocese. Unfortunately, at the year end, ever-increasing expenditure severely reduced the available funds and the Parish Share shortfall increased considerably.
FoodBox at St. Peter’s: Very significant g rant funding from Wiltshire Council and subsequent expenditure on food purchases and delivery costs was a large proportion of both overall St. Peter’s income and expenditure and distorts comparison with previous years’ church activities. Income was largely matched by expenditure on food purchases and mileage.
Cornerstone Fund: At the beginning of 2021, St. Peter’s held two deposit accounts with Church of England Central Board of Finance ( CBF), namely the “Cornerstone Fund” and the “Stent Fund”. The Quinquennial Report received at the end of 2020 highlighted serious issues with concrete cancer and urgent repairs needed to the Peter Window as well as a plethora of other smaller repairs and replacements to be prioritised over the ensuing five years. The PCC agreed to the use of these accounts to contribute to this work as follows: (a) the Cornerstone Fund for Peter Window repairs/ replacement, safety measures etc, and all larger concrete cancer repairs, and (b) the Stent Fund for all smaller Quinquennial Report repairs. The Stent Fund had previously been beyond the remit of the PCC but this restriction was lifted in view of the financial challenges, and the account slowly diminished. The remaining balance of £8,803 was amalgamated into the Cornerstone Fund in October. All architect’s fees for reports on the Peter Window and their fee for the Quinquennial report were paid from the Cornerstone Fund as directed by the PCC.
Net Assets: Although net assets now stand at £51,666, increasing from £42,465 in 2020, (see page 4), there are significant reasons for the apparent upturn. Firstly, the transfer in of the former Stent Fund of £8,803, and secondly the receipt of £3,340 from TMC in advance (see above). Without these two factors, Net Assets would have actually declined by 7%.
Conclusion: The traditional c omparison with the previous year is misleading because of the significant lockdowns and restrictions endured during 2020 and parts of 2021. The most concerning aspect is the ongoing reduction in Voluntary Giving and Fund Raising, coupled with increasing expenditure which was forecast at the end of the year (notably cleaning and electricity/gas costs). The shortfall in Parish Share against our reduced pledge was regrettable but perhaps unavoidable.
It has been an honour and privilege to serve as PCC Treasurer for St. Peter’s over the past six years, but it is now time to hand over the baton to my successor, Chris Gough. My thanks as always to Ivan Hurcum and Chris as members of the Finance Team who have shared with me the challenging financial situation of the past twelve months.
I wish Chris and the new Finance Team every success for the future.
David Turnbull PCC Treasurer
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
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 2021 Total 2020 £ £ £ £ £ 30,306 - - 30,306 33,985 3,608 - - 3,608 3,438 8,778 - - 8,778 7,750 - - - - - |
|---|---|
| 42,692 - - 42,692 45,173 2,512 - 16,137 18,649 18,402 755 - - 755 1,191 41,188 - - 41,188 28,006 1 - 14 15 96 |
|
| 87,148 - 16,151 103,299 92,868 |
|
| 1,255 - - 1,255 1,082 53,785 - - 53,785 51,990 27,155 - 14,036 41,191 40,412 - - - - - |
|
| 82,195 - 14,036 96,231 93,484 |
|
| 4,953 - 2,115 7,068 (616) (3,005) - 5,138 2,133 10,115 |
|
| 1,948 - 7,253 9,201 9,487 (3,482) - - (3,482) 2,794 14,709 - 31,479 46,188 33,907 |
|
| 13,175 - 38,732 51,907 46,188 |
The attached notes on pages 5 to 10 form part of these financial statements.
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
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 2021 Total 2020 £ £ £ £ £ 2,995 - 0 2,995 10,534 10,180 - 3,007 13,187 6,323 - - 35,516 35,516 29,061 - - 209 209 270 |
|---|---|
| 13,175 - 38,732 51,907 46,188 241 - - 241 3,723 |
|
| 241 - - 241 3,723 |
|
| 12,934 - 38,732 51,666 42,465 |
The attached notes on pages 5 to 10 form part of these financial statements.
Approved by the PCC 17 February 2022 and signed on their behalf by Reverend Andrew Gubbins (PCC Chairman) and David Turnbull (PCC Treasurer up to 31 December 2021)
Reverend Andrew Gubbins
David Turnbull
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
1. Notes
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(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).
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(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.
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(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 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.
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(iv) Assets recognised but not valued in the Statement of Assets and Liabilities include:
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Moveable church furnishings held by the Church Warden on special trust for the PCC and which require a faculty for disposal.
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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.
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(v) In addition to the funds specified on page 4, there was a Church of England Central Board of Finance “Stent” deposit account used solely at the discretion of the Vicar and Church Wardens. The PCC had no control over this fund at the beginning of 2021, but by agreement with the PCC this limitation was lifted during the year and the £8,803 residual balance was transferred to the CBF Cornerstone Fund in October 2021. It thus became under the jurisdiction of the PCC and became subject to the same audit as the other funds.
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(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.
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
2. Other donations and legacies
| Bequests (N. Harbott) Cornerstone Fund donations via current a/c Fund-raising Ctte (R. Fund C: to Cornstn) Sunday Coffee Fund net (Rest. Fund D) Wednesday Coffee Fund (Rest. Fund E) Friendship Club (restricted Fund F) Pastoral Committee (restricted Fund G) LIGHT service (Restricted Fund H) Chippenham Lions for “Foodbox” Wiltshire Council for “Foodbox” Wessex Water for “Foodbox” Chip Street Pastors for “Foodbox” GMB Union for “Foodbox” Other donors for “Foodbox” Bev Webb (cakes) M Helps (re. Weston Village Gardening) Angela Hurcum (Marmalade sales) Sally Powell (piano tuning) Judith Griffiths Daphne Field (cards) Joan Chapman (artwork) S Magnall memorial HSBC (poor service: to Cornerstone Fund) 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 Christian Aid Sightsavers Send a Cow Embrace The Middle East Leprosy Mission Royal British Legion (Poppy Appeal) Funeral donations for charities Wiltshire Historic Churches |
2021 £ 1,000 40 817 43 519 100 100 375 0 12,527 500 414 400 579 181 30 253 60 83 67 60 129 200 172 18,649 2021 £ 0 0 0 0 0 0 0 156 0 208 0 193 33 115 50 755 755 |
2020 £ 10,000 590 0 88 205 100 0 665 800 2,510 0 0 0 1,080 600 30 75 0 0 0 0 0 |
|---|---|---|
| 18,402 | ||
| 2020 £ 0 0 0 167 0 |
||
| 167 130 48 151 226 49 0 86 334 0 |
||
| 1,024 | ||
| 1,191 |
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
4. Other trading activities
| Tom Metcalfe Centre rent Lord’s Mead Playgroup rent Other hall lettings Sheldon Road rental income Wedding fees Funeral fees Sale of books Photocopying Miscellaneous sales etc Photocopying Wilts CC grant for new rear doors 5. Income from investments Unrestricted Designated Funds £ Interest on Cornerstone Fund - Interest on Deposit Account 1 1 |
Tom Metcalfe Centre rent Lord’s Mead Playgroup rent Other hall lettings Sheldon Road rental income Wedding fees Funeral fees Sale of books Photocopying Miscellaneous sales etc Photocopying Wilts CC grant for new rear doors 5. Income from investments Unrestricted Designated Funds £ Interest on Cornerstone Fund - Interest on Deposit Account 1 1 |
2021 £ 12,505 14,280 7,295 0 846 1,221 27 0 14 0 5,000 41,188 Restricted Funds £ 2021 £ 14 14 - 1 14 15 |
2020 £ 7,463 12,294 6,176 1,449 45 419 123 28 9 0 0 |
|
|---|---|---|---|---|
| 28,006 | ||||
| 2020 £ 88 8 96 |
||||
| 1 |
6. Expenditure on charitable activities
| Send a Cow Sightsavers (2020, paid in 2021) Children’s Society Christian Aid Embrace Middle East (2020, paid in 2021) Royal British Legion (Poppy Appeal) Leprosy Mission MacMillan Nurses (per Wed Coffee Fund) Wiltshire Historic Churches Funeral donations to charity Deanery Synod subscription |
2021 £ 208 151 51 156 49 33 193 234 50 115 15 1,255 |
2020 £ 226 0 130 48 0 86 0 0 0 334 10 |
|---|---|---|
| 1,082 |
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
7. Other expenditure
| Clergy Expenses Expenses Visiting preachers Presentations to clergy Benefice fees Church Maintenance and Running Expenses Electricity Gas Water rates Insurance Grass cutting Repairs and maintenance Imperial Cleaning Services Refuse collection Boiler servicing Fire extinguishers, inc Lightning conductor Electrical tests Other Church Management and Administration Photocopier costs Postage Stationery Computer and software Telephone Support costs Copyright fees Organ and Piano tuning Organist fees Verger fees Flower Fund expenses Pastoral Committee expenses LIGHT service (H) expenses Foodbox (I) expenses Equipment purchases Kingfishers (Messy Church) expenses Other Transfer to CBF Cornerstone Fund Transfer to CBF Stent fund (Sheldon Rd rent) |
2021 £ 999 19 0 1,018 743 1,994 1,136 98 1,932 710 2,826 9,554 1,025 0 444 2,055 0 21,774 940 38 139 230 317 1,664 161 60 60 40 0 0 161 13,875 347 160 61 1,067 15,992 0 41,191 |
2020 £ 870 113 - |
|---|---|---|
| 983 305 1,674 680 88 1,921 705 3,746 5,983 613 180 274 0 749 |
||
| 16,613 1,265 7 87 651 455 |
||
| 2,465 80 240 0 0 0 15 291 4,195 193 13 2,980 10,590 |
||
| 18,597 1,449 |
||
| 40,412 |
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
8. Unpresented cheques
| Unpresented cheques and cash as at 31 December 2020 Write back prior year cheques raised but never banked by payee 2020 cheques and cash presented during 2021 2021 payments raised by cheque not banked by payee at year end Alzheimer’s Society Wiltshire Air Ambulance CDTFTDS Cash & Cheques received 31/12/2021 unbanked Total |
£ 3,723 |
|---|---|
| - (3,723) 45 35 161 0 241 |
| Net movement in unpresented cheques during 2021 Unpresented cheques and unbanked as at 31 December 2021 |
(3,482) |
|---|---|
| 241 |
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St. Peter’s Church, Chippenham Financial Statements for the Year Ended 31 December 2021
9. Restricted Funds
| estricted Funds | estricted Funds | estricted Funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Funds year-ended 31/12/2021 A Cornerstone Fund Balance at 1/1/2021 HSBC current account £0 CBF deposit account £29,061 Cash floats £0 £29,061 Donations £1,058 Other Voluntary Receipts £8,803 Interest received £14 Expenses -£3,420 Transfers from/to unrestricted funds £0 Total movements in year £6,455 Balance at 31/12/2021 HSBC current account £0 CBF deposit account £35,516 Cash floats £0 Total Restricted Funds £35,516 |
B Flower Fund £0 £0 £70 |
C Fund Raising Cttee £0 £0 £0 |
D Sunday Coffee Fund £0 £0 £0 |
E Wed Coffee Fund £0 £0 £20 |
F F'dship Club £200 £0 £180 |
G Pastoral Cttee £0 £0 £0 |
H LIGHT Service |
I Food- box Totals £955 £2,148 £0 £29,061 £0 £270 |
|||
Balance at 1/1/2021 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 31/12/2021 HSBC current account CBF deposit account Cash floats Total Restricted Funds |
|||||||||||
| £993 £0 £0 |
|||||||||||
| £29,061 £1,058 £8,803 £14 -£3,420 £0 |
£70 £23 £0 £0 -£62 £0 |
£0 £0 £817 £0 -£0 -£817 |
£0 £86 £0 £0 -£8 -£43 |
£20 £557 £0 £0 -£0 -£519 |
£380 £512 £0 £0 -£407 -£100 |
£0 £100 £0 £0 -£0 -£100 |
£993 £375 £0 £0 -£161 £0 |
£955 £31,479 £14,420 £17,131 £0 £9,620 £0 £14 -- £13,875 -- £17,933 £0 -£1,579 |
|||
| £6,455 | -£39 | £0 | £35 | £38 | £5 | £0 | £214 | £545 £7,253 |
|||
| £0 £35,516 £0 |
£0 £0 £31 |
£0 £0 £0 |
£0 £0 £35 |
£0 £0 £58 |
£300 £0 £85 |
£0 £0 £0 |
£1,207 £0 £0 |
£1,500 £3,007 £0 £35,516 £0 £209 |
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| £35,516 | £31 | £0 | £35 | £58 | £385 | £0 | £1,207 | £1,500 £38,732 |
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.
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A. Cornerstone Fund: This Central Board of Finance account comprises various donations and fund-raising proceeds specifically for the “Cornerstone Project”. Former CBF “Stent Fund” £8,803 transferred to this account. Professional fees incurred for Cornerstone, and repairs listed in the 2020 Quinquennial Report are paid from this account.
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B. Flower Fund: Cash donations and transactions.
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C. Fund-raising committee: “Tradewinds” BBQ (£708) and deposits from cancelled barn dance by cash to Cornerstone Fund (£109).
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D. Sunday Coffee Fund: Cash transactions only. Donations to Church funds less expenses. E. Wednesday Coffee Fund: Cash received for refreshments. £234 donation to MacMillan Nurses. £285 to church funds for future Defibrillator costs only.
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F. Friendship Club: Cash transactions only. Self-funded by members of the congregation for various social events. £100 donation to church funds received.
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G. Pastoral Committee: Administered via HSBC current account.
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H. LIGHT service: Administered via HSBC current account. Donations received fund the expenses incurred for transport for the disabled.
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I. Foodbox: Various donations received from Chippenham Borough Lands, Wiltshire Council and others exclusively for Foodbox expenses for purchase of food and delivery costs.
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Independent Examiner's Report to the Trustees of St. Peter's Church, Chippenham, Parochial Church Council
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