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2021-12-31-accounts

The Parish Church of Saint Wulfram, Grantham

Parochial Church Council

Annual Report for the Year Ended December 2021 31[st]

Annual Report & Financial Statements For the Year Ended 31 December 2021 St Wulfram’s Church, Grantham Parochial Church Council

TABLE OF CONTENTS

AIM AND PURPOSES 1
OBJECTIVES AND ACTIVITIES 1
PEOPLE 2
THE CORONAVIRUS COVID-19 PANDEMIC 3
ACHIEVEMENTS AND PERFORMANCE 5
FINANCIAL REVIEW 32
RESERVES POLICY 36
STRUCTURE, GOVERNANCE & MANAGEMENT 38
ADMINISTRATIVE INFORMATION 40
STATEMENT OF FINANCIAL ACTIVITIES 41
BALANCE SHEET 42
NOTES TO THE FINANCIAL STATEMENTS 43-52
INDEPENDENT EXAMINER’S REPORT 53

AIM AND PURPOSES

St Wulfram’s Parochial Church Council (PCC) has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish of Grantham the whole mission of the Church, in daily worship of God, in matters pastoral, evangelistic, social and ecumenical to serve the people of the town and all who come to the church building.

The detail of this programme of mission is managed severally by the sub-groups (sub committees) of the PCC on its behalf. Their minutes and resolutions are available. From time to time, ad hoc working groups may be established to report to the PCC.

Full details of the PCC membership and officers are listed under ‘Administrative Information’ below.

OBJECTIVES AND ACTIVITIES

The PCC has the overall responsibility to make available to as many people as possible the ministry offered by the living Church based at St Wulfram’s, and to welcome the same people to the church building. We communicate the Christian faith and exercise Christian ministry in the worship of the church through the ministry of word and sacrament. We seek to meet the needs of a variety of people in the wide range of worship and activities offered. Our church building is sufficiently flexible that we can manage occasions sacred and secular on a large or modest scale.

When undertaking their programme of activities, the staff and PCC have taken seriously the Charity Commission’s guidance on public benefit, and in particular, the specific guidance on charities for the advancement of religion. It is our express aim to be a community of Christians in the town and, according to the Anglican understanding, to be available to every single person in the town and parish. We seek to help the people of the town to live out their Christian faith through:

To make all this possible the PCC has a prime responsibility to maintain the fabric of St Wulfram’s.

In the Spring of 2020, St Wulfram’s was designated an ‘urban resource church’, a strategic development funded in part by the Church Commissioners and in part by the Diocese of Lincoln. As well as continuing to serve the people of Grantham, St Wulfram’s has a wider responsibility to the whole diocese. This has necessitated a change in the Rector’s role. In recognition of this, St Wulfram’s was able to appoint a new Associate Rector, who works in partnership with the Rector in leading St Wulfram’s mission, ministry, and pastoral care. As one element of the strategic development funding, the Diocese of Lincoln made available two years’ funding for a new full-time Children, Youth & Families Worker, whose role at St Wulfram’s extends into the Grantham Deanery.

On Saturday 25 September, a Parish Vision Day was held in church from 10.00 a.m. to 3.00 p.m. Under the leadership of our new Associate Rector (see below) and the Archdeacon

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of Boston, we explored and discerned what God was calling our church to be, and prepared a strategy for future work.

PEOPLE

Staff

Fr Clay (who was born and raised in Oklahoma) moved with his family to Grantham from North Yorkshire, where he served for 14 years as Vicar at the St Francis of Assisi Church, Ingleby Barwick, Stockton on Tees.

We bade a formal farewell to Mthr Mel and family at an open-air service in the grounds of Grantham House on 9 July, before their move to Bristol where Fr Jonnie took up the post of Canon Missioner at the Cathedral in August.

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Holders of the Bishop’s Licence

Those licensed by the Bishop to assist in the administration of the elements at Holy Communion in the parish (some within church and others within and outside church) are listed below. The asterisk denotes individuals for whom permission was granted or renewed by the Bishop during 2021. Due to the pandemic restrictions, no-one holding the Bishop’s Licence was able to administer the elements in church during 2021.

PTA in church: Clare Arthur, Heather Arthur, Shaun Ashley, Daniel Castañeda, Katy Castañeda, Paul Davie, Dorothy Gaughan, Michael Gaughan, Sue Redmile*, Georgina Stewart, Ian Stewart, David West.

PTA in church and out of church: Susanne Graham, Elizabeth Hill, Barbara Kime, Sheila Knight, Shirley Leverett, Brenda Patten, Joanna Swinbourne, Eileen West, Valerie York.

Guild of Servers

Issues and anxieties around the pandemic saw the number of servers reduce over the last year. However, the Guild of Servers continued to actively advertise for new members and address any training needs those current members felt they needed. In late 2021 the group gathered for the first time since before the pandemic for a training session for server’s roles and duties, and this was delivered by the Chaplain and the Head Server. At this time, it was decided that the Guild Handbook would be rewritten and distributed amongst members so that they may find instruction on all roles available to them, as well as learn more about the liturgical practices.

The Guild have retained a suitable membership to provide for regular worship but would still welcome more volunteers to enable duties to be more distributed amongst the membership. To that end, new members are most welcome, and training remains an ongoing concern. The guild is not exclusive and is open to all members of the parish, of any age and experience.

THE CORONAVIRUS COVID-19 PANDEMIC

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4

ACHIEVEMENTS AND PERFORMANCE

Worship and Prayer

Introduction

The pattern of worship and prayer in 2021

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people to commit to greater action to address climate change. Packets of wildflower seeds were distributed. A link to online resources was shared immediately afterwards.

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Preparation to receive the Sacrament of the Eucharist, and Confirmation

After not running in 2020 owing to pandemic restrictions, Communion Club resumed over Zoom in 2021, with five meetings led by Fr Stuart and Mrs Laura Cradduck.

Adult confirmation preparation is open to all who wish to recognise their personal development in faith. The usual format is meetings held on six consecutive Sundays, with the Confirmation service held in the centre of the course. This year, adult confirmation preparation was conducted over Zoom by Fr James.

Bishop David, Bishop of Grimsby, confirmed 2 adults and 11 children from St Wulfram’s parish at a service on Holy Saturday evening (3 April).

Occasional Offices

In 2021 there were eight weddings. More weddings were expected (13 in total booked for the year plus 2 wedding vow renewals) but due to COVID-19 restrictions seven services were moved to 2022.

The Grantham Journal published an article on the first couple to say ‘I do’ in St Wulfram’s (5 June) after the easing of restrictions. Fr Clay conducted the wedding ceremony under COVID-19 restrictions and guidelines, with 30 guests, who all wore facemasks inside the church. The bride said to the Journal : ‘Getting married at St Wulfram’s was a dream come true. It was a shame that we couldn’t have had more of our family and friends there, but everyone understood.’

We conducted 15 baptisms: all children (four under one year of age, nine aged between one and three years old, two aged between six and seven years old). We have an open baptism policy and do our best to keep in touch with the families involved.

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A total of 15 funerals for people in the parish were conducted during the year, of which 11 took place in church.

At their meeting in December, the PCC’s Mission & Social Responsibility Subgroup welcomed Elaine Chambers to speak about her ideas for celebrating and following up life events, as part of her Authorised Lay Ministry. The Life Events Diary software in use in the Parish Office enables reminders to be set up for the anniversaries of weddings and baptisms. Elaine subsequently updated the baptism card, introduced a certificate for Godparents, will be producing a certificate for weddings, and arranged for a series of high-quality cards to be printed (the initial and ongoing costs being met by the Mission Fund). The design of anniversary cards will change year by year. Celebrating and following up life events in this way will strengthen the mission of St Wulfram’s in the local community.

Mission and Social Responsibility

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Safeguarding

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Safeguarding and Clergy Discipline Measure 2016 (that is, the duty to have regard to House of Bishops’ guidance on safeguarding children and adults at risk of harm).

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Our resource centre at Grantham House

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Music

Introduction

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The narrative of 2021 – a year in which the goalposts kept shifting

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children’s and youth activities could continue. But we continued singing. The church’s resource centre at Grantham House enabled summer evening garden rehearsals outside for the adults (unless it rained, and we switched to six singers inside, Zoom streamed). Choral evensongs were sung with choristers and a teenage back row. The ruling threatened to scupper a Corpus Christi project, but our hybrid method came into its own.

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Organ teaching school

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Wider music programme

Church Community

(a) Children and Young People

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who wished to make initial enquiries about how to become involved prior to the relaunch of Sunday Club and our youth provision.

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Clergy and other members of the church are invited to go and speak to the groups, but again this has been limited during the pandemic. The groups also visit the church from time to time as part of their badge work and spiritual development.

Fr James is District Chaplain to Grantham District Scouts. This role is a Grantham-wide appointment but includes regular purposeful visits to the sections of the 2nd Grantham (St Wulfram’s) Scout Group. In 2021, the group celebrated its centenary year with a special service planned and lead by Fr. James at St. Wulfram’s. This service welcomed many people, both past and present, who had been associated with the group.

At times in the past year, the 6[th] Grantham (St. Wulfram’s) Guides were once again resident within the church grounds when they held several of their unit meetings at Grantham House.

On 1 November, the National Church of England Junior School became a member of the Lincoln Anglican Academy Trust (LAAT) family of schools (bringing the total number of schools in this Multi Academy Trust to 20).

Members of the clergy team and also our CYFW lead weekly collective worship in two church schools. During the pandemic, the team prepared videos for the schools instead.

Local schools, especially the church schools and the local state nursery school usually make regular visits to the church to learn about the church building, about Christianity and about the church’s role in the community. In normal times, local schools also use the church for services throughout the year, including carol services and services to mark the end of the school year. The neighbouring grammar school uses the church building for its annual Founder’s Day Service and Speech Night.

(b) Pastoral Care

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(c) Community groups

Church and Fabric

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Cleaning & repainting of external gates in churchyard (£1,800) – undertaken by P A G Construction and completed in June;

Cleaning & repair of gutters above North Porch Visitor Centre (£1,800) – completed by HAB Leadworks in April;

Internal work to ensure safe access on stone floors (£8,100) – completed by Weldon Stone in early June;

Electrical safety inspection and remedial work – completed by AF Electrical in May (£750); completed by Engineering Inspectors in June – fee £320);

Refurbishing internal & external noticeboards (£1200) – completed by Viking Signs and P A G Construction in May/June;

Cleaning & re-oiling of Visitor Centre doors in North Porch (£3,500) – completed by Weldon Stone in May;

Deep cleaning of floors & sanitizing coffee shop area (£700) – completed by Demon Cleaning in June once other internal work had been completed; Redecoration & cleaning of Trigge Library (£3,550) – work by Weldon Stone completed in June;

Service of two Hoval boilers (£550) – completed in June.

SUB-TOTAL £24,850. Where eligible, VAT has been recovered under the Listed Places of Worship VAT recovery scheme.

Alternative heating is needed in the Clergy Vestry and will be considered as part of the Vestry Refurbishment project.

Re-fixing the brass plaque memorial to William Wagstaffe on the south wall of the church adjacent to the steps to the Lady Chapel. This minor repair, which required a Faculty, was completed in November.

Replacement of roof access ladders involved two pairs of ladders (on the Corpus Christi roof and the main nave roof) and was undertaken by Sycamore Construction and completed in October 2021. The design for the separate ladder to access the hatch in the nave was finalised with the architect and relevant parties and a List B Application approved by the Archdeacon in December 2021. The ladder should be installed in March 2022.

Repointing to the Trigge Library chimney and stonework around the South Porch roof. Work was needed to re-bed the capstone to the chimney and repoint associated joints. This was completed by Weldon Stone at a cost of some £1,500 plus VAT.

West window of North Aisle – The tender report (1.11.21) from Peter Rogan recommended acceptance of the tender in the sum of £70,886 from Weldon Stone for the repair of damaged mullions with Lincolnshire Stained Glass as the principal subcontractor for the glazing work to de-glaze and re-glaze the window. The Faculty for the work was applied for in 2021 (but not granted until January 2022) with work scheduled to commence in February 2022.

Excavating test pits within the churchyard to ascertain drainage absorption rates preparatory to a scheme to be finalised and agreed to improve the west end entrance and associated drainage. A specification for this has been drawn up by our Inspecting Architect, Peter Rogan. A Faculty application was underway.

Repair of table tomb to the Huthwaite family in the churchyard. Owing to subsidence caused by tree roots and dry weather at the start of 2021, this very fine tomb (1752-60),

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by sculptor Christopher Staveley, had begun to collapse. The repairs were completed in December and were funded by South Kesteven District Council.

Church flowers

We express gratitude to all those who contribute towards the costs of flower arrangements throughout the year: many such donations are in memory of loved ones and an ‘In Memoriam’ list is displayed at the west end of the church and online at Easter and Christmas.

Change ringing

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Hospitality for Pilgrims and Visitors

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Sundays). Automatic hand sanitizers were placed at the entrance and exit and within the church; the wearing of facemasks was required; and posters encouraged social distancing.

Trigge Library

During the six-month period to year’s end, small groups from Grantham U3A, Grantham & Kesteven Rotary Club and Gonerby Hill Foot WI were also welcomed to the Library.

The busiest days for visitors were 11 September during the Heritage Open Day, and 2 October during the Gaia festival, which together accounted for about 150 visitors.

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Archive

Learning opportunities

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Ministry training

Major Churches Network

Inclusive Church Network

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We believe in inclusive Church - church which does not discriminate, on any level, on grounds of economic power, gender, mental health, physical ability, race or sexuality. We believe in Church which welcomes and serves all people in the name of Jesus Christ; which is scripturally faithful; which seeks to proclaim the Gospel afresh for each generation; and which, in the power of the Holy Spirit, allows all people to grasp how wide and long and high and deep is the love of Jesus Christ.

Ecumenical relationships

Lincoln Diocesan Synod

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available a map of church types by Deanery Partnership (based predominantly on local authority areas for the time being).

Grantham Deanery

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Communication

30

Special Events (including those for fund raising)

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The following comments are examples of those written at the time in our Visitors’ Book:

Refreshments were served daily by a large band of volunteers organised by Di Hale, who calculated that, over a total of 30 hours, we sold 200 mince pies, 19 stollen, 12 packets of shortbread fingers, 72 bundles of lebkuchen, 25 ham salad rolls, 25 cheese salad rolls, 110 sausage rolls, 45 pork pies, and used 1,000 cups, 36 bottles of mulled wine and 48 pints of milk!

Our own huge Christmas tree, positioned at the west end of the church, was adorned with around 200 wooden decorations crafted by people at the woodworking project Outwood CIC, which supports and promotes wellbeing and positive mental health through meaningful activities.

FINANCIAL REVIEW

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half of the year. Unfortunately, planned activities in 2021 were impacted more significantly by COVID-19 than expected so additional sources of income were sought once again to offset the loss of events income. A Culture Recovery Fund for Heritage grant covered approximately £9.8k of General Fund salary costs and Transformation Fund grants, totalling approximately £5.5k, were received from the Lincoln diocese to cover some of the Metanoia Climate Festival costs (£5k) and first aid training costs (£480). The General Fund was also aided by multi-year banking fees rebates relating to our two main bank accounts of £5.1k, plus an additional £3.2k interest (accounted for as other income from church activities). General Fund running costs that benefitted the fabric of the building (£8.8k) were once again allocated to the Fabric Fund, although this support will be scaled back in 2022 and beyond as events income returns to more normal levels. For 2022, despite the expectation of a much higher level of net fundraising events income, increased gas and electricity costs, and higher salary costs, in part due to increased working hours, resulted in a General Fund budget deficit set for 2022 in November 2021 of -£5.3k. Should the final outcome for 2022 not exceed budget expectations, it’s likely that the PCC will need to review its current reserves policy of covering at least three months’ budgeted General Fund expenditure. At present, this is not considered to be a serious concern as available reserves are judged to be more than sufficient.

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Same Boat/Wulfram Spring 2020 project and a £1,250 Institute of Conservation grant for the Trigge Library. Large donations included £2k from The Friends of St Wulfram’s Church towards the cost of the equipment to enable broadcast of services online, £624.10 from Grantham Choral Society, £500 from Buckminster Estates and £250 from Machine Gun Corps. Old Comrades Association. There were many other donations from individuals, schools and societies gratefully received. Legacies of £8,869, all for the Fabric Fund this year, were also received in 2021 (2020: £3,500 total).

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£10,116) but unrealised losses in the value of financial investment assets of £7,558 (2020: £6,764 gain). A majority of the investment securities are held with the Central Board of Finance (CBF) of the Church of England. The largest holding is in the CBF Fixed Interest Securities Fund whose unit value decreased by 6.6% in 2021. £90,000 were sold during the year, so the total amount held in the fund decreased by 32.8%. Overall, our financial investment portfolio made a negative capital return of -1.7% (i.e. excluding income received) in 2021 (2020: 4.1% gain), and the overall value decreased by 22.9% to £344,821 (2019: 271.6% increase to £447,176). Cash on deposit and with the bank increased by £7,561 (2020: decrease of £321,144) during the year.

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in Note 10). The working capital requirements as outlined in the paper were well within the current valuation of the two Harrowby funds, however, it is recognised that actual income and expenditure could vary substantially from projections, so careful cash management and spending will be required to give the project the best chance of success.

RESERVES POLICY

General Funds

Designated Funds

36

Fabric Fund

37

STRUCTURE, GOVERNANCE & MANAGEMENT

Following the first national pandemic lockdown, the Church of England issued guidance about online PCC meetings: this included the advice that decisions requiring a formal resolution of the PCC should be put into written form after a virtual meeting and circulated for formal approval under rule M29 (which, under rule 76, can be conducted by email). The PCC has followed this guidance for the six meetings held via Zoom video conference in 2021. On two further occasions, Zoom enabled a member to participate in in-person meetings. For safety reasons, the meeting on 13 July 2021 was held outdoors at Grantham House.

The average level of attendance for the nine meetings in 2021 was 84% (as compared with an average of 87% in 2020).

The committee comprises the Rector and Churchwardens ( ex officio ) and two further members (elected by the PCC). John Manterfield served on the committee throughout 2021; Jane Sharp served until 25 April, at which point Stuart Jackson was elected a member of the committee. The Treasurer and PCC Secretary are attendees. Written reports from the committee are submitted to the PCC at the subsequent meeting.

The Standing Committee met once this year, in September. Its business concerned PCC policies and it was advised on that occasion by Damien MacdonaldBloomfield (Senior Human Resources Business Partner, United Lincolnshire Hospitals NHS Trust), who assists the PCC in such matters, on a voluntary basis. A

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suite of policies (Bribery; Complaints; Conflict of Interest; Equality & Diversity; Disciplinary; Grievance; Health & Safety), a Prevent Strategy Statement and a code of conduct was subsequently approved by the PCC on 21 September, upon the recommendation of the committee. The policies etc will be reviewed on a regular basis.

PCC members are expected to sit on at least one sub-group. Members of the congregation are also invited to join sub-groups. Each sub-group includes at least one member of the clergy team and either one or both Churchwardens. Minutes or written reports of sub-group deliberations are received by the full PCC and discussed as necessary.

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St Wulfrato's Church is situated in Grantha]￿ Lillcolnshire and is part of the Diocese of Lincoln withÉn the Church of England. The address for Corresponden￿ is: The Rectory, Church Street, Grantham, Lincolnshire. NG31 6RR The Parochial CELurch Council {PCC) is a charity resistered with the Charity Commi&8ion. charity registration number 1131575, as'The Parochial Church Council of the Ecclesiastieal Parish of St Wu]fram, GranthanL" The PCC Treasurer is Stephen How& The PCC Secretary is Judith Muskett (who undertakes this role on a voluntary basis alongside the saIaried p)st of Mission Faci]itator). Neither the Treasurer nor the Secretary is an elected member of the PCC. PCC members who served at any time from i January 2021 until the date this report was approved are set outbelow. Five vacancies for elected members were unfilled at theAPCM on 25 April 2021. Name Ex offiao nwnbers FatherStt￿rt Cradduek Incurnbent, PCC Chair. Rura] Dea￿ Diocesan Synod & (from i0.11.22) Genern] Synod ociate Rector Bisbop's PeTrniSSiOa to Officia￿. C4mmuttity Cbaplai Assistant Curate Assistant Curats & Di(waD Syllod Assistant (aarate Reader Warden andwice-chair Warden & IknerySyDod DeaDery Syllod Deanerysynod Father Clay Roundtree MotherJune Rowland (from 4.5.21) FatherAron DonaldsoD Mother Mel Parkin FatherJamesTitley Trlick Kerry Andrewcregory Jan Burrows Val York Paul Davie (from September) (until 30.6.21) {until 3.8.21) Electedmembers Jason Bloomfield Jo Counsell Cherry Edwards Melanie Fletcher Marie Jackson Sknart Jackson Sheila Knight John Manteffield Gaiy Moment Jane Sharp Brian Stagg Stewart (until 2&4.21) (from 25.4.21) {from 2&421) (from 25.4.21) {from 25.4.2 (until 16.3.21) (frofft 254.21) Reader Emer1￿$ &Ll￿t0$ of the Trigge Lllsrary opted members Jo Counsell Melailie Metcher J&lle Sharp (from 254.21) (until 254.21) {uThtil 25A.21) Bankers InY&stmentMaD&sers HSBC Bank ple, We5tgate, Grdlltha￿. CCtA Investment Management Limtted, 84 Queell Virtoria StreeL IA)lldoD. E￿￿lasti{41 Insuran￿ Group. Gloucester. Newton Fallowell. 24 Market P]ace. Grantham. Streets LLP. WiDdsor Hollse.￿ Bu5ine&T Park. Long Bennington. Insure LettingAgents Independetjt Examiner& Approved by the PCC on and signed on their behalf, Father Stuart Cradduek 3 April 2022 40

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

STATEMENT OF FINANCIAL ACTIVITIES

For the year ending 31st December 2021

Note
INCOMING RESOURCES
Voluntary income
2(a)
Activities for generating funds
2(b)
Income from investments
2(c)
Church activities
2(d)
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Church activities
3(a)
Fund-raising costs
3(b)
Investment management costs
3(c)
Governance costs
3(d)
TOTAL RESOURCES EXPENDED
NET INCOMING RESOURCES/(OUTGOING)
RESOURCES BEFORE TRANSFERS
Transfers between funds
1 1
NET INCOMING RESOURCES/(OUTGOING
RESOURCES) BEFORE OTHER
RECOGNISED GAINS & LOSSES
Gains/(losses) on investment assets:
6(b)
on revaluation
NET MOVEMENT IN FUNDS
BALANCES BROUGHT FORWARD 1st JANUARY
BALANCES CARRIED FORWARD 31st DECEMBER
General
Designated
£
94,632
8,092
46,861
6,140
4,806
710
9,090
1,014
155,389
15,956
120,536
41,045
33,086
3,649
2,134
-
540
-
156,296
44,694
(907)
(28,738)
-
-
(907)
(28,738)
-
13,299
(907)
(15,439)
42,093
119,538
41,186
104,099
Unrestricted Funds
General
Designated
£
94,632
8,092
46,861
6,140
4,806
710
9,090
1,014
155,389
15,956
120,536
41,045
33,086
3,649
2,134
-
540
-
156,296
44,694
(907)
(28,738)
-
-
(907)
(28,738)
-
13,299
(907)
(15,439)
42,093
119,538
41,186
104,099
Unrestricted Funds
Restricted
Funds
£
136,866
4,962
11,107
4,207
Endowment
Funds
2021
2020
£
£
£
-
239,590
170,339
-
57,963
4,986
-
16,623
14,341
-
14,311
11,491
-
328,487
201,157
-
343,435
250,849
-
40,196
2,625
-
2,687
1,193
-
540
510
-
386,858
255,177
-
(58,371)
(54,020)
-
-
-
-
(58,371)
(54,020)
7,084
5,747
16,880
7,084
(52,624)
(37,140)
62,643
649,047
686,187
69,727
596,423
649,047
TOTAL FUNDS
155,389 **15,956 ** **157,142 ** -
120,536
33,086
2,134
540
41,045
3,649
-
-
181,854
3,461
553
-
-
-
-
-
**156,296 ** 44,694 185,868 -
(907)
-
(907)
-
(28,738)
-
(28,738)
13,299
(28,726)
-
(28,726)
(14,636)
-
-
-
7,084
(907)
42,093
(15,439)
119,538
(43,362)
424,773
7,084
62,643
41,186 104,099 381,411 69,727

The notes on pages 43 to 52 form part of these accounts

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PAROCHIAL CHURCH COUNCIL OF ST WULFRAM. CRANfIIAM BAIANCE SHEEr As at 31st December 2021 2021 2020 Notes FIXED ASSETS Tang]￿le assets Invesknents 6(a) 5*973 486.286 494259 7,812 575.337 583,149 Debtors Short terni dewssits & cash at bank and in hand 54369 100.608 152.977 16,484 93,047 109.531 LIABILITIES Creditors- amountsfaIiing due in one year 4&&3 4&633 NET CURRETrrf ￿SETs 104164 659898 TOTAL NET ASSETS 596,423 649,047 PARISH FUNDS Unrestricted General Fund Designated Funds 41,186 104,099 145,285 42,093 119,538 161,631 io Restricted io io 3&AII 69.727 4¥,773 6£643 596A23 649,047 Approved by the Par0th1￿ Church Council on 3rd Aprll 2022 and bwed on its behalf by Father Stuart Cradduck (PCC Chairman) Thenote54x) pase543 to52 for￿ part fAtheseaccounts

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

1. ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Church Accounting Regulations 2011, the Charities Act 2011, and the Statement of Recommended Practice Financial Reporting Standard applicable in the UK (Charities SORP (FRS 102)).

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

Funds

Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted income or unrestricted income funds depending upon the purpose for which the endowment was established (see note 10).

Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, income from investments is apportioned to individual funds on an average balance basis (see note 10).

Unrestricted funds are general funds which can be used for PCC ordinary purposes. Of the unrestricted funds, designated funds represent the valuation gain on investment property which can only be realised on sale, a fund for collections in memoriam, a fund designated for potential development, a deposit fund designated for religious, charitable and educational purposes comprised of accumulated income and interest, and a reserve of unrestricted funds held separate from general funds (see note 10).

Incoming resources

Planned giving, collections and donations are recognised when received. Tax recoverable on Gift Aid donations is recognised when the donation is recognised. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable and is accounted for gross.

Resources expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross.

43

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

1. ACCOUNTING POLICIES (continued)

Fixed assets

Consecrated and beneficed property is not included in the accounts in accordance with s.10(2)(a) of the Charities Act 2011.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a Faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the church’s inventory, which can be inspected (at any reasonable time). For inalienable property acquired prior to 2005 there is insufficient cost information available and therefore such assets are not valued in the financial statements. All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings acquired before 1st January 2005 is written off.

Depreciation of Tangible Fixed Assets

Depreciation on tangible fixed assets costing more than £1,000 is calculated to write off the cost of each asset over its expected useful life by equal annual instalments at the following rates, (% p.a. on cost):

Office equipment - 20% straight line basis. Computer equipment - 20% straight line basis. Gardening equipment - 20% straight line basis.

Fixed asset investments

Investment property is valued at 31[st] December, with reference to movements in a regional house price index, from the date of acquisition (see note 6).

Investment securities are valued at market value at 31[st] December.

Connected charity

The PCC cooperates with the “Friends of St. Wulfram’s Church, Grantham” which is a separately registered charity (registered charity number 1066896), chaired by the Rector.

The objects of the Friends of St. Wulfram’s are:

“to preserve and beautify the Church of St Wulfram, Grantham, its fabric, fixtures, fittings, monuments, ornaments and other chattels”.

44

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

2
INCOMING RESOURCES
2(a) Voluntary Income
Planned giving:
Gift Aid donations
Tax recoverable
Other
Collections (open plate)
Grants
Other donations and appeals
Choir Trips
Donations box
Other donations, appeals, etc.
Tax recoverable
Legacy income
2(b) Activities for generating funds
Coffee shop
Hire of church /Grantham House
Sales Unit
Lottery
Events Bar
Vintage Festival
Gaia (Metanoia) Climate Festival
Beer Festival
Christmas Tree Festival
Choir Trips
Parish Magazine Advertising
Tax recoverable
Other fund-raising
2(c) Income from investments
Rent from land & buildings
Dividends and interest
2(d) Income from church activities
Parish Magazine
Choir Trips
Other income from church activities
Fees paid to PCC for weddings & funerals
Insurance claim
TOTAL INCOMING RESOURCES
General
Designated
£
£
46,975
11,744
6,442
6,143
5,480
5,629
9,025
7,909
3,194
183
94,632
8,092
1,935
181
2,868
5,029
777
923
1,913
-
2,032
18,751
13,994
-
1
3,667
930
46,861
6,140
4,715
91
710
4,806
710
302
4,749
1,014
4,039
-
9,090
1,014
155,389
15,956
Unrestricted Funds
Restricted
Funds
£
1,200
300
120,872
4,993
632
8,869
136,866
78
542
899
180
3,263
4,962
1,223
9,884
11,107
3,314
893
-
4,207
**157,142 **
Endowment
Funds
£
-
-
-
-
-
-
2021
2020
£
£
48,175
48,163
12,044
12,041
6,442
8,120
6,143
3,416
126,352
69,026
-
-
5,629
2,274
21,927
20,736
4,009
3,063
8,869
3,500
239,590
170,339
2,116
1,013
7,897
840
855
598
923
916
2,455
-
-
-
2,032
-
18,751
515
13,994
-
899
43
-
150
181
-
7,860
911
57,963
4,986
5,938
5,225
10,685
9,116
16,623
14,341
302
326
3,314
36
6,656
601
4,039
934
-
9,594
14,311
11,491
328,487
201,157
TOTAL FUNDS

45

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

3
RESOURCES EXPENDED
General
Designated
£
£
3(a) Church activities
Missionary and charitable giving (note 13)
3,875
Ministry
Diocesan parish share
37,029
Other ministry costs
6,955
Church/Grantham House running & maintenance
Heating, lighting & water
12,065
5,137
Insurance
7,292
3,746
Rates
3,161
Maintenance and other costs
1,820
7,768
Upkeep of services
4,414
985
Music & choir
22,542
Choir Trips
Children and young people
284
Printing, stationery & other office costs
8,043
2,762
Trigge Library
Parish magazine costs
2
Legal & professional fees
302
508
Bank charges
(4,455)
Training & Development
1,519
Festival of Angels project costs (part grant funded)
5,000
Other sundry expenses
1,747
2,291
Other church activities costs
252
15
Wulfram Centre for Wholeness & Wellbeing activities
998
Administration and support costs
11,850
13,674
120,536
41,045
3(b) Fund-raising costs
Coffee Shop
574
2
Sales Unit stock
167
Events Bar
555
Vintage Festival
-
Gaia (Metanoia) Climate Festival
6,353
Beer Festival
13,468
Christmas Tree Festival
8,065
Choir Trips
Other fund-raising
3,904
3,647
33,086
3,649
3(c) Investment management costs
Investment property insurance and repairs
1,568
Investment property management fees
566
2,134
-
3(d) Governance costs
540
-
TOTAL RESOURCES EXPENDED
156,296
44,694
Unrestricted Funds
Restricted
Funds
£
654
5,514
7,292
72,961
1,416
8,173
4,573
10,047
1,219
2,193
5,535
21,976
14,995
3,603
374
21,329
181,854
276
3,185
3,461
407
146
553
-
185,868
Endowment
Funds
£
-
-
-
-
-
2021
2020
£
£
4,529
2,161
37,029
29,849
6,955
7,187
22,716
11,448
18,330
13,867
3,161
-
82,549
92,110
6,815
10,289
30,715
26,388
4,573
-
10,331
360
12,024
8,847
2,193
4,032
2
300
6,345
2,766
(4,455)
332
1,519
79
26,976
-
19,033
14,535
3,870
1,271
1,372
-
46,853
25,028
343,435
250,849
576
373
167
355
831
-
-
122
6,353
-
13,468
17
8,065
100
-
43
10,736
1,615
40,196
2,625
1,975
566
712
627
2,687
1,193
540
510
386,858
255,177
TOTAL FUNDS

46

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

As at 31st December 2021
4 STAFF COSTS & EXPENSE PAYMENTS 2021 2020
£ £
4(a) Staff costs
Wages and salaries: Gross pay 76,227 46,021
Employer's NI and Pension Contributions 4,638 2,017
80,865 **48,038 **

The full-time equivalent number of staff was 3.1 (2020 - 1.9) and no employee received remuneration in excess of £60,000. No wages or salaries were paid to PCC members during the year.

Grantham St Wulfram PCC participates in the Pension Builder Scheme section of the Church Workers Pension Fund (CWPF) for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.

CWPF has two sections:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

  3. a. , a deferred annuity section known as Pension Builder Classic, and,

  4. b. , a cash balance section known as Pension Builder 2014.

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on the investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared, is payable, unreduced, from age 65.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2021: £3,173; 2020: £2,017).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.

For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 3%, following recent improvements in the funding postion over 2021. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The legal structure of the scheme is such that if another employer fails, Grantham St Wulfram PCC could become responsible for paying a share of the failed employer’s pension liabilities.

47

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

4(b) Payments to PCC members

5 members of the PCC were reimbursed a total of £4,746 expenses in relation to their work at St Wulfram's that was unrelated to their additional duties as PCC members. After adjusting for less than expected 2020 expenses claimed in 2021, the net expense for 2021 was £3,939. These were for travel/mileage (£2,973), phone costs (£673), meals/subsistence (£318) & other charitable expenses (-£25). A small immaterial portion of the expenses paid to the Rector may have related to his services as chairmanof the PCC.

AF Electrical Installations was paid a total of £937 during 2021 for repair work done. Melanie Fletcher is married to the owner of the firm, but is not a member of the PCC Fabric sub-group that selects the contractors to undertake repair & maintenance work.

No other expenses, except those listed above, were paid to any other PCC member, persons closely connected to them or related parties.

5 NET INCOMING RESOURCES FOR THE YEAR

2021
Net incoming resources for the year are after charging:
£
1,839
Independent Examination of the Annual Report & Financial Statements
540
FIXED ASSETS
a) Tangible assets
Gardening
Office
Equipment
Photocopier
£
£
Cost or deemed cost
At 1st January 2021
1,950
3,990
Additions
-
-
Disposals
-
-
At 31st December 2021
1,950
3,990
Depreciation
At 1st January 2021
618
3,990
Charge for the year
390
-
Disposals
-
-
At 31st December 2021
1,008
3,990
Net book value
At 31st December 2021
942
-
At 31st December 2020
1,332
-
Depreciation of computers & gardening equipment (lawnmowers)
GENERAL
FUNDS
2020
£
1,155
510
DESIGNATED
TOTAL
FUNDS
FUNDS
Office
Computers
£
£
7,245
13,185
-
-
-
-
7,245
13,185
765
5,373
1,449
1,839
-
-
2,214
7,212
5,031
5,973
6,480
7,812

6 FIXED ASSETS

48

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

6
b) Investments
Market value 1 January 2021
Additions
Disposals
Revaluation (loss)/gain
At 31 December 2021*
Historic cost as at 31st December 2021
Investment
property
£
128,161
-
-
13,304
141,465
68,768
Investment
Total
securities
investments
£
£
447,176
575,337
707
707
(95,504)
(95,504)
(7,558)
5,746
344,821
486,286

*An estimate of the increase in value of the investment property is obtained using the Nationwide House Price Calculator for properties in the East Midlands region from Q4 2020 to Q4 2021.

The market value at 31st December 2021 represents investments for:

General funds
Designated funds
Restricted funds
Endowment funds
£
41,186
72,697
27,582
-
141,465
Investment
property
£
£
-
41,186
18,824
91,521
324,733
352,315
1,264
1,264
344,821
486,286
Investment
securities
Total
investment

The allocation of the assets to the funds above reflects how the income is currently apportioned, with the exception of the designated investment property reserve of £72,697. Rental income relating to that part of the investment property is allocated to General funds. The type of asset actually used by a particular fund is ultimately dictated by liquidity needs - a fact that will aid the understanding of Note 12 also. Total fixed asset investment securities are within the United Kingdom and are all unlisted. They are intended to be held for longer than one year although can be sold at short notice, thereby ensuring sufficient liquidity.

7
DEBTORS
Prepayments:
Less than 1 year
More than 1 year
Tax recoverable
Other debtors
8
CASH AT BANK AND IN HAND
Short term deposits
Cash at bank and on hand
Other
2021
2020
£
£
5,487
3,043
591
427
6,706
9,556
39,585
3,458
52,369
16,484
2021
2020
£
£
20,080
40,080
80,528
52,967
-
-
100,608
93,047

49

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

9
LIABILITIES
Amounts falling due in one year
Accruals for utility costs
Accruals for other costs
Deferred income
Grantham Ark (Registered Charity No. 1190668)
*
2021
2020
£
£
5,131
2,195
27,486
16,277
13,462
12,662
2,734
12,499
48,813
43,633

*Deferred income includes Parish Magazine income relating to 2021 (£89), monies held for future choir trips (£4,253) & advance income mostly relating to cancelled events (£9,120). The movement in deferred income is analysed below:

Balance as at 1st January
Amounts added in current period
Amounts released to income from previous periods
Balance as at 31st December
2021
2020
£
£
12,662
5,302
2,805
8,018
(2,005)
(658)
13,462
12,662

**St Wulfram's Church continued to receive income during 2021 on behalf of Grantham Ark, which is registered with The Charity Commission (number 1190668). This was largely due to difficulty the charity had been experiencing in opening a bank account. Below is a brief summary of income and expenditure for 2020 & 2021, which has been recorded separately from the church's income & expenditure, and the net cash amount owed by St Wulfram's Church to Grantham Ark for net income received on its behalf at the end of those years.

Balance as at 1st January
Income
Grants received on behalf of Grantham Ark
Donations (inc. Gift Aid) & fundraising income
Expenses
Portaloo hire (allocated expense relating to 2019)
Night shelter expenses
Accommodation expenses for homeless people
Payments made to Grantham Ark
Balance as at 31st December*
£
500
2,734
-
-
-
202
£
£
£
12,499
8,865
3,103
3,490
3,234
6,593
(234)
(915)
(1,810)
-
(2,959)
(12,999)
-
2,734
12,499
1
2020

*No other expenses were paid to any other Grantham Ark trustee, persons closely connected to them or related parties.

9b OPERATING LEASE

The charity has future liabilities under non-cancellable operating leases as follows

< 1yr 1-5 yrs > 5 yrs
Office Equipment (photocopier) 878 3,633 -

50

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

10
FUNDS
Designated Funds
Funeral collections "in memoriam"
Grantham Land Adj Harrowby School (Income)
Mission & Social Responsibility
Development (Grantham House)
Revaluation of investment property
Funeral collections "in memoriam"
Grantham Land Adj Harrowby School (Income)
Rev aluation of inv estment property
Restricted Income Funds
5050 booklet appeal
A Pinchbeck fund
AG Hardy fund books for lay readers
Book of Remembrance
Chained (Trigge) library [Books]
Chained (Trigge) library [All Purposes]
Choir Fund
Clarkes Charity
Culture Recovery Fund for Heritage
Downton bequest
Fabric fund
Festival of Angels (SKDC) grant
Flowers
Friends of Cathedral Music Grant
Grantham Land Adj Harrowby School (Capital)
Langwith Charity
Organ Fund
P Burdett bequest
Postcode Places Trust grant
Shine Lincolnshire grant
South Porch & Garden of Remembrance
Strategic Development Funding (SDF) / LDT&BoF
Wulfram Spring 2020 Arts Council England grant
As at
1st Jan 21
£
5,407
10,078
4,399
40,261
59,393
119,538
Collections at funer
Accumulated inco
Rev aluation reserv
As at
1st Jan 21
£
1,233
2,213
2,680
325
4,782
851
3,901
947
-
12,484
358,411
-
1,959
784
23,814
4,098
128
1,068
-
-
245
-
4,850
424,773
Incoming
Resources
£
235
(673)
6,007
7,659
-
13,228
al serv ices for the be
me from restricted in
e for the inv estment
Incoming
Resources
£
-
-
-
-
1,279
538
13,092
-
43,800
-
17,431
15,900
1,431
-
-
-
-
-
19,908
10,000
-
28,314
6,950
158,643
Resources
Expended
£
(985)
(1,367)
(2,859)
(37,464)
-
(42,675)
nefit of St Wulfram de
come fund of same na
property at 8 Ly tham
Resources
Expended
£
-
-
-
-
(2,103)
(90)
(13,176)
-
(43,800)
-
(74,125)
(21,976)
(1,416)
(660)
-
-
-
-
-
(462)
-
(28,314)
(11,800)
(197,922)
Investment
Gains/(Losses)
£
(126)
707
-
123
13,304
14,008
signated for use to purcha
me, plus interest.
Close.
Investment
Gains/(Losses)
£
(33)
(30)
8
(9)
(107)
(35)
(104)
54
(338)
(7,677)
-
(53)
758
3,424
98
(3)
(29)
-
-
(7)
-
-
(4,083)
Transfers
£
-
15,000
-
(15,000)
-
-
se fixtures, fittings
Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
As at
31st Dec 21
£
4,531
23,745
7,547
(4,421)
72,697
104,099
and other items 'in memoriam'.
As at
31st Dec 21
£
1,200
2,183
2,688
316
3,851
1,264
3,713
1,001
-
12,146
294,040
(6,076)
1,921
882
27,238
4,196
125
1,039
19,908
9,538
238
-
-
381,411

5050 booklet appeal Funds for the colour guide to the church. A Pinchbeck fund Income to be applied for use by the serv ers. AG Hardy fund books for lay readers Income to be applied to reader ministry . Book of Remembrance Donation from the Machine Gun Corp for preserv ation of the Book of Remembrance. Chained (Trigge) library Book restoration and upkeep of Trigge Library funded by donations for the purpose. Choir Fund Income from collections at music recitals, grants, sales of CDs and donations for choir and music expenditure. Clarkes Charity Income - 1 /3rd to orphans, 2/3rds to beautify ing the church. (£1 ,650 spent 201 8 on Altar Frontal. £825 still to be applied to orphans). Culture Recov ery Fund for Heritage grant Culture Recov ery Fund for Heritage grant (Project no. OM-20-06042, The National Lottery Heritage Fund). Downton bequest Rector & churchwardens discretionary fund. Fabric fund Income from bequests, legacies and other donations for preserv ation of the church fabric. Festiv al of Angels grant SKDC grant - Grantham High Street Heritage Action Zone - Cultural Consortium Programme. Flowers Purchase of flowers funded by donations for the purpose. Friends of Cathedral Music Grant Income from endowment for St.Wulfram's Music for Choral Scholarships. Grantham Land Adj Harrowby School (Capital) Capital for religious, charitable & educational purposes in parish. Income to designated fund of same name. Langwith Charity Discretionary fund for distribution to poor. Organ Fund Saturday Morning music and other donations to meet the running costs of the organ and expenses of v isiting organists P Burdett bequest Vestments for serv ers and clergy . Postcode Places Trust grant Grantham House gardener (£1 5k), G.H. utilities (£3k), garden tools/seeds (£1 k) & G.H. rates. Shine Lincolnshire grant Grantham House wellbeing classes & some G.H. salary costs. South Porch & Garden of Remembrance Donations for upkeep of the South Porch and Garden of Remembrance. Strategic Dev elopment Funding (SDF) Strategic Dev elopment Funding from Lincoln Diocesan Trust & Board of Finance. Wulfram Spring 2020 Arts Council England Grant Grant from Arts Council England for Wulfram Spring 2020 project (No. ACPG-002097 7 1 ; 90%). Interrupted due to Cov id-1 9.

51

PAROCHIAL CHURCH COUNCIL OF ST WULFRAM, GRANTHAM

NOTES TO THE FINANCIAL STATEMENTS As at 31st December 2021

10
FUNDS (continued)
Endowment Funds
A Pinchbeck fund
A G Hardy fund
Clarkes Charity (REGISTERED)
Donal charity (REGISTERED)
Fabric fund
Friends of Cathedral Music Endowment Grant
Hodds bequest
Langwith Charity (REGISTERED)
Miss Harrison bequest
P Barnes Fund
A Pinchbeck fund
A G Hardy fund
Clarkes Charity (REGISTERED)
Donal charity (REGISTERED)
Fabric fund
Friends of Cathedral Music Endowment Grant
Hodds bequest
Langwith Charity (REGISTERED)
Miss Harrison bequest
P Barnes Fund
As at
Incoming
Resources
Investment
Transfers
As at
1st Jan 21
Resources
Expended
Gains/(Losses)
31st Dec 21
£
£
£
£
£
£
1,194
-
-
(61)
-
1,133
3,254
-
-
(168)
-
3,086
3,229
-
-
(167)
-
3,062
158
-
-
(9)
-
149
17,584
-
-
2,528
-
20,112
26,118
-
-
4,080
-
30,198
2,854
-
-
(148)
-
2,706
7,496
-
-
1,068
-
8,564
544
-
-
(28)
-
516
212
-
-
(11)
-
201
62,643
-
-
7,084
-
69,727
Income to be applied for use by the servers.
Income to be applied to reader ministry.
Income to be applied one third to orphans and two thirds to beautifying the church.
Discretionary fund for distribution to the poor - income transferred to the general fund.
Income to be applied for church fabric - income transferred to the fabric restricted income fund.
Income for St.Wulfram's Music for Choral Scholarships allocated to restricted income fund of same name.
Income transferred to general funds to set against cost of verger, bellringers, servers and choir.
Discretionary fund for distribution to poor.
Income transferred to general funds to set against cost of choir, music etc
Income to be applied for the children of parish - transferred to general funds to set against cost of Sunday Club & other children's ministry expenses.

11 TRANSFERS BETWEEN FUNDS Transfers between general and restricted funds normally represent a one-off transfer of incoming resources applied to restricted funds where resources expended for the same purpose have previously been met from general funds. Within designated funds, a £15,000 Hope Beyond grant from Allchurches Trust, received in 2020, was reallocated by agreement to meet visual streaming equipment costs.

12
ANALYSIS OF NET ASSETS by fund
General funds
Designated funds
Restricted funds
Endowment funds
13
MISSIONARY & CHARITABLE GIVING
Mission & Social Responsibility
Other charitable giving
The Children's Society
DEC (Various appeals)
Christian Aid
Grantham Foodbank
Macmillan
Samaritans
WaterAid
Fixed
Assets
£
42,128
96,552
283,852
69,727
492,259
General
£
3,875
-
-
-
-
-
-
-
3,875
Unrestricte
Current
Assets
£
17,385
12,531
123,061
-
152,977
Designated
£
-
-
-
-
-
-
-
-
-
d Funds
Liabilities
£
(18,327)
(4,984)
(25,502)
-
(48,813)
Restricted
Funds
£
-
169
96
62
-
249
78
-
654
Total
£
41,186
104,099
381,411
69,727
596,423
Endowment
Funds
£
-
-
-
-
-
-
-
-
-
TOTAL FUNDS
2021
2020
£
£
3,875
1,500
169
54
96
-
62
-
-
298
249
-
78
-
-
309
4,529
2,161

52

INDEPENDENT EXAMINER’S REPORT

To the Trustees of The Parochial Church Council of the Ecclesiastical Parish of St Wulfram, Grantham

I report to the Trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of St Wulfram, Grantham (the Trust), for the year ended 31 December 2021, which are set out on pages 41 to 42.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

31 March 2022

Chris Hubbard, FCA

Streets LLP Windsor House A1 Business Park at Long Bennington Nottingham NG23 5JR

53