OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

St Mary Magdalene’s PCC Stoke Bishop

The Parochial Church Council Presents its Unaudited Annual Report And Financial Statements

For the year ended 31 December 2021

Charity commission 1131728

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Annual report and Financial Statements Year ended 31 December 2021

The Parochial Church Council present their report and the unaudited financial statements for the year ended 31 December 2021.

The Financial Statements are in accordance with the Church Accounting Regulations 2006 and comply with the Charities Act 2011 and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

Charitable Status

The Parochial Church Council (PCC) is a corporate body established by the Church of England under the PCC Powers Measure. The PCC was registered as a charity in 2009, charity number 1131728. The PCC members have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission.

Background

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop (St Mary's PCC) has the responsibility of co-operating with the incumbent, the Reverend Jema Ball, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical (under the PCC (Powers) Measure 1956).

The Parochial Church Council (PCC)

The appointment of PCC members is governed by and set out in the Churches Representation rules. A list of PCC Members for the year is set out on page 5. New members are provided with a detailed briefing pack explaining their responsibilities and members attend occasional courses.

During the year the PCC has met bi-monthly. Meetings are preceded by a time of prayer, to which members of the congregation are invited.

Officers of the Parochial Church Council

Chair Reverend Jema Ball
Vice Chair Ann Thomas
Vice Chair Caroline Jowett-Ive
Secretary Stephen Fairbairn
Treasurer Caroline Owen

Address

The Church Office, Mariners Drive, Stoke Bishop, Bristol, BS9 1QJ.

Bankers

National Westminster Bank Plc, PO Box 221, 13 High Street, Westbury-on-Trym, Bristol, BS9 5AL.

COIF Charity Fund, CCLA Investment Management Ltd, 85 Queen Victoria Street, London EC4V 4ET.

Independent Examiner

Jonathan Marchant, Mazars LLP, Chartered Accountants, 90 Victoria Street, Bristol, BS1 6DP.

Page 1

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Annual report and Financial Statements Year ended 31 December 2021

Aims

The PCC, in cooperation with the Incumbent, is required to meet its obligations in ways which:

Achievement and performance

2021 got off to a bumpy start with a lockdown and school closure announced at the last minutes due to COVID19, at a time when many people were fatigued and despondent. In January the PCC took the difficult decision to close the church for gathered worship. As the year progressed and restrictions were lifted it was clear that the clergy and congregation were able to stay faithful to our call of following Jesus and making him known. It was with great joy that the church reopened for gathered worship in March in time for Easter.

During the year there were seven weddings and one renewal of vows service, together with seven baptisms. As restrictions lifted the church was able to offer support to the bereaved and hold not only church funerals but thanks giving services for those who had died last year when funerals were restricted.

Activities for families children and youth were resumed in the year and in some cases were relaunched. At Easter as indoor gatherings were restricted an outdoor Easter trail and craft session. This was followed by an outdoor Christmas trail. The church was able to deepen its links with Stoke Bishop Church of England Primary School and has led collective worship every Monday morning. The year 6 pupils all left the school with a bible presented by the church.

September marked a significant shift in the pattern of our worship as we moved to a Week A, Week B format. This has worked well and has helped with the complex task of co-ordinating ministers on rotas. It has meant that most of our families with children/teens are attending church more regularly than prior to the pandemic. It was such a joy in September to relaunch our Sunday groups for 0-14’s under the new name of SHINE.

The Autumn term of 2021 saw roughly 60 people from across the churches of the Avonside Mission Area take part in the Living in Love and Faith course. It was offered by the Church of England as a conversation opportunity looking at Christian teaching and learning on identity, sexuality, relationships and marriage.

St Mary’s church and halls are an important community venue. During 2021 the hall bookings picked up considerably. There’s a wonderful mix of activities and ages and we took on a few new regular bookings alongside welcoming back our regulars.

Page 2

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Annual report and Financial Statements Year ended 31 December 2021

The Leadership Team

The Leadership Team acts as the Standing Committee of the PCC and consists of the leaders of the key areas of ministry at St Mary’s and elected members from the PCC

Rev Jema Ball Incumbent -Worship and Training
Rev Simon Potter Growing Disciples
Tony Hughes Stewardship and Resources-elected PCC representative
Rachel Powlesland Youth and Children
Rev Jennifer Hall
Rev Jo Morris Care and support
Ann Thomas Church warden
Caroline Jowett-Ive Church warden
Caroline Owen Treasurer and safeguarding- elected PCC representative

Relationships with other groups, charities and individuals

As a parish church, within the Diocese of Bristol in the Church of England, the church undertakes to pay the annual Parish Share, which, during this period was £160,980 (2020 - £160,980).

The Diocese of Bristol pays the salaries of the Incumbent Rev Jema Ball, and the associate vicar Rev Simon Potter.

Electoral Roll

The annual revision of the Electoral Roll last took place in April 2020, establishing that the number on the Electoral Roll was 314 (2020- 314).

Risk Management

As a body responsible for the condition of the fabric of St Mary’s and for the safety and well-being of those worshipping there and everyone using its facilities, the PCC adopts policies and takes measures to minimise the risks involved. The PCC and its committees adhere to and implement the provisions of legislation and current good practice.

The major risks to which St Mary's PCC is exposed and the systems to mitigate those risks are as follows:

Page 3

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Annual report and Financial Statements Year ended 31 December 2021

PCC responsibility for the financial statements

The law requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Parish and of its income and expenditure for that period. In preparing those financial statements, the PCC is required to:

The PCC members are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Parish and to enable them to ensure that the financial statements comply with the relevant legislation. They are also responsible for safeguarding the assets of the Parish and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

At the beginning of the year 2021 the budget prepared anticipated a deficit for the General Fund. The Parish Share for 2021 has remained the same as for 2020. The PCC are confident that they will be able to meet their financial obligations.

Reserves Policy

The PCC aim to maintain reserves in unrestricted funds at a level that will allow sufficient funds to be available to respond to charitable activities as they arise and also to ensure that support and governance costs can be met for at least three months.

The balance held as unrestricted funds at the year end was £295,232 (2020-£257,843) of which £151,666 (2020-£115,950) are regarded as free reserves after allowing for funds tied up in tangible fixed assets.

Post Balance Sheet Events

In July 2021 the PCC approved the relaunch of the hall project. The redevelopment of the church rooms was launched in January 2020 but was suspended due to COVID19. The building work started in June 2022.

Approved and signed by

Rev Jema Ball Incumbent 8th September 2022

Page 4

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Annual report and Financial Statements Year ended 31 December 2021

PCC members 2021

Clergy

Rev Jema Ball Rev Simon Potter Rev Angela Cattell Rev Jennifer Hall Rev Hazel Trapnell Rev Joanna Morris

Licensed Lay Ministers

Brian Richardson Peter Robottom

Churchwardens

Ann Thomas Caroline Jowett-Ive

Members of Diocesan Synod

Peter Robottom

Members of Deanery Synod

Hayley Brydges Tony Hughes Jo Wright

PCC members

Julia Gwyther Andrew Judd Al Meadows from 9th May 2021 Caroline Owen - Treasurer Kate Pinfold from 9th May 2021 Nick Powlesland from 9th May 2021 Jerry Sandford Caroline Simpson Tony Yeadon

Justin Stratis, Jenny Baker, Steve Fairbairn, Wendy Hughes, Miles Kitching and Pauline Pearson who were members of the PCC on 1 January 2021 resigned in the year ended 31 December 2021.

Page 5

Independent Examiner’s Report to the Members of The Parochial Church Council (PCC) of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop

I report on the financial statements of the PCC of St Mary Magdalene, Stoke Bishop for the year ended 31 December 2021, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, which is complete, no matters have come to my attention which give me reasonable 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, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Jonathan Marchant FCA

Chartered Accountant Mazars LLP 90 Victoria Street Bristol BS1 6DP 8th September 2022

Page 6

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Statement of Financial Activities for the Year Ended 31 December 2021

Unrestricted
funds
note
£
Donations and legacies
2
272,192
3
27,693
Investment income
4
11,432
Total
311,317
Expenditure on
Raising funds
5
15,669
Charitable activities
6
305,366
Total
321,035
(9,718)
Transfers
Gross transfers between funds
47,107
37,389
Other recognised gains
20,000
Net movements in funds
57,389
Reconciliation of funds
Total funds brought forward
560,951
Total funds carried forward
618,340
Net income
Net income before other
recognised gains and
losses
Gains on revaluation of
fixed assets for charity's
own use
Activities for generating
funds
Income and endowments
from		 Unrestricted
funds
note
£
Donations and legacies
2
272,192
3
27,693
Investment income
4
11,432
Total
311,317
Expenditure on
Raising funds
5
15,669
Charitable activities
6
305,366
Total
321,035
(9,718)
Transfers
Gross transfers between funds
47,107
37,389
Other recognised gains
20,000
Net movements in funds
57,389
Reconciliation of funds
Total funds brought forward
560,951
Total funds carried forward
618,340
Net income
Net income before other
recognised gains and
losses
Gains on revaluation of
fixed assets for charity's
own use
Activities for generating
funds
Income and endowments
from		 Restricted
funds
£
31,059
2,155
-
2021		 Total
£
303,251
29,848
11,432		 Unrestricted
funds
£
295,047
11,462
11,540		 Restricted
funds
Total
£
£
47,302
342,349
956
12,418
-
11,540
48,258
366,307
875
9,462
22,030
303,049
22,905
312,511
25,353
53,796
(293)
-
25,060
53,796
-
35,000
25,060
88,796
55,881
553,096
80,941
641,892
2020
311,317 33,214 344,531 318,049
2,125
36,064		 17,794
341,430		 8,587
281,019
321,035 38,189 359,224 289,606
(9,718)
47,107		 (4,975)
(47,107)		 (14,693)
-		 28,443
293
37,389
20,000		 (52,082)
-		 (14,693)
20,000		 28,736
35,000
57,389
560,951		 (52,082)
80,941		 5,307
641,892		 63,736
497,215
618,340 28,859 647,199 560,951

All incoming resources and resources expended derive from continuing activities.

The notes on pages 9 to 16 form an integral part of these financial statements

Page 7

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Balance Sheet as at 31 December 2021

note
Fixed assets
Tangible assets
9
Heritage assets
9
Current assets
Debtors
10
Cash at bank and in hand
11
Net assets
The funds of the charity:
Restricted funds
13
Unrestricted Funds
Revaluation reserve
13
Unrestricted income funds
13
Total charity funds
Jema Ball
Reverend Jema Ball
Incumbent
8th September 2022
Creditors: Amounts falling due
within one year
Approved and signed by		 £
£
£
£
466,673
445,000
1
1
466,674
445,001
13,350
21,022
183,259
184,087
196,609
205,109
16,084
8,218
180,525
196,891
647,199
641,892
28,859
80,941
323,108
303,108
295,232
257,843
618,340
560,951
647,199
641,892
Caroline Owen
C Owen
2020
2021
PCC Member		 £
£
£
£
466,673
445,000
1
1
466,674
445,001
13,350
21,022
183,259
184,087
196,609
205,109
16,084
8,218
180,525
196,891
647,199
641,892
28,859
80,941
323,108
303,108
295,232
257,843
618,340
560,951
647,199
641,892
Caroline Owen
C Owen
2020
2021
PCC Member
445,001
196,891
641,892
80,941
560,951
641,892

The notes on pages 9 to 16 form an integral part of these financial statements.

Page 8

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

1. Accounting policies

The Parochial Church Council (PCC) is a corporate body established by the Church of England under the PCC Powers Measure. The PCC was registered as a charity in 2009, charity number 1131728. Its registered office is Mariners Drive, Stoke Bishop, Bristol BS9 1QJ.

Basis of preparation and assessment of going concern

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland' effective from 1 January 2015 (FRS102), applicable accounting standards and the Charities Act 2011.

The PCC constitutes a public benefit entity as defined by FRS102.

The presentation currency of the financial statements is sterling and all figures are rounded to the nearest pound. The comparative information relates to the year ended 31 December 2019.

Although the impact of COVID-19 is still uncertain the congregation of the church has continued to support the work of the church by their committed giving. The PCC consider that there are no uncertainties about their ability to continue as a going concern as a result of the pandemic or any other matters.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the PCC's discretion in furtherance of the objectives of the charity.

Restricted funds are those donated for use in a particular area or for a specific purpose, the use of which is restricted to that area.

Designated funds are unrestricted funds set aside at the discretion of the PCC for specific purposes. Details of each fund are disclosed in note 13.

Incoming resources

Voluntary income, including donations and grants including coronavirus job retention scheme payments, that provide core funding is recognised where there is an entitlement, probability of receipt and when the amount can be reliably measured.

Income from tax reclaims are included at the same time as the gift to which they relate.

Income from events and fund raising activities is recognised as earned.

Investment income is recognised on a receivable basis.

Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to the activity and indirect costs required to support the work of the charity.

Grants and donations payable are recognised in the accounts when a commitment has been made and there is certainty about the timing and amount of the payment.

Page 9

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

Governance costs

Governance costs include costs of the preparation and examination of the Report and Financial Statement, costs relating to PCC meetings and any legal costs relating to governance and constitutional matters.

Fixed assets

Consecrated land and buildings and other church furnishing are not included in the accounts in accordance with s10 (2) (a) of the Charities Act 2011. All expenditure on such property is written off as incurred.

Moveable church furnishings that require a faculty for disposal are inalienable property and are held by the vicar and churchwardens on special trust for the PCC. These assets are listed in the church's inventory which can be inspected at any reasonable time.

Other land and buildings are owned by the PCC and are stated at valuation.

Expenditure on office and audio equipment and musical instruments is treated as capital additions where it exceeds £2,500.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost, less any residual value, over their expected useful life as follows:

Office audio and musical equipment

33% straight line basis

Taxation

The charity is exempt from tax as it has no taxable activities. Irrecoverable VAT borne by the charity is included in the cost of the item to which it relates.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount at which the charity is expected to benefit in a future period.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Page 10

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

2. Donations and legacies

Unrestricted
Funds
£
Donations and legacies
Committed giving
203,101
Donations
26,382
Bequests
9,377
Gift aid tax reclaimed
28,491
267,351
Grants
Job Retention Scheme
4,841
272,192
Unrestricted
Funds
£
Parish activities
Bookstall and bible notes
96
House party income
-
Fees for weddings and funerals
15,422
Church and church room rental
8,420
23,938
Fund raising
Magazine advertising and sales
1,944
Social events
1,811
3,755
27,693
3. Activities for generating funds		 Unrestricted
Funds
£
203,101
26,382
9,377
28,491		 Restricted
Funds
£
-
28,038
3,021
2021		 Total Funds
£
203,101
54,420
9,377
31,512		 Unrestricted
Funds
£
178,983
66,480
-
41,969		 Restricted
Funds
£
-
38,661
2,000
6,641
2020		 Total Funds
£
178,983
105,141
2,000
48,610
267,351
4,841		 31,059
-		 298,410
4,841		 287,432
7,615		 47,302
-		 334,734
7,615
272,192 31,059 303,251 295,047 47,302 342,349
Restricted
Funds
£
-
-
-
-
2021		 Total Funds
£
96
-
15,422
8,420		 Unrestricted
Funds
£
19
660
4,982
2,816		 Restricted
Funds
£
-
-
-
-
2020		 Total Funds
£
19
660
4,982
2,816
23,938 - 23,938 8,477 - 8,477
1,944
1,811		 -
2,155		 1,944
3,966		 2,876
109		 -
956		 2,876
1,065
3,755 2,155 5,910 2,985 956 3,941
27,693 2,155 29,848 11,462 956 12,418

4. Investment income

Rent from property
Interest on cash deposits		 Unrestricted
Funds
£
11,400
32		 Restricted
Funds
£
-
-
2021		 Total Funds
£
11,400
32		 Unrestricted
Funds
£
11,400
140		 Restricted
Funds
Total Funds
£
£
-
11,400
-
140
-
11,540
2020
11,432 - 11,432 11,540

Page 11

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

5. Raising funds

Magazine printing
House party
Bookstall purchases
Social events
Wedding and funeral fees
and costs		 Unrestricted
Funds
£
5,360
184
45
8,864
1,216		 Restricted
Funds
£
-
-
-
-
2,125
2021		 Total Funds
£
5,360
184
45
8,864
3,341		 Unrestricted
Funds
£
5,760
724
49
2,054
-		 Restricted
Funds
Total Funds
£
£
-
5,760
-
724
-
49
-
2,054
875
875
875
9,462
2020
15,669 2,125 17,794 8,587

6. Details of charitable activities

Grants and donations
Parish share
Mission giving
Other giving
Support costs
Employment costs
Lighting and heating
Insurance
Repairs and maintenance
Churchyard expenses
Telephone and computers
Subscriptions and training
Cleaning
Water rates
Service supplies
Staff recruitment
Bank charges
Sundry costs
Youth ministry costs
Depreciation
Governance costs
Independent examiner’s fee
Stationery and postage
Clergy expenses
Organist, choir and music costs		 Unrestricted
Funds
£
160,980
-
-		 Restricted
Funds
£
-
20,243
308
2021		 Total Funds
£
160,980
20,243
308		 Unrestricted
Funds
£
160,980
-
-		 Restricted
Funds
Total Funds
£
£
-
160,980
20,427
20,427
327
327
20,754
181,734
-
77,059
-
11,053
-
3,218
-
4,732
-
63
-
1,823
-
2,732
-
3,977
355
3,678
-
1,653
-
481
-
-
-
150
-
472
921
2,394
-
1,659
-
-
-
3,549
1,276
118,693
-
2,622
22,030
303,049
2020
160,980 20,551 181,531 160,980
92,875
11,895
3,376
9,593
47
965
5,308
3,858
2,363
1,649
286
1,059
-
488
1,829
1,969
835
3,313		 -
-
-
-
-
-
-
-
-
-
-
10,359
-
-
5,154
-
-
-		 92,875
11,895
3,376
9,593
47
965
5,308
3,858
2,363
1,649
286
11,418
-
488
6,983
1,969
835
3,313		 77,059
11,053
3,218
4,732
63
1,823
2,732
3,977
3,323
1,653
481
-
150
472
1,473
1,659
-
3,549
141,708 15,513 157,221 117,417
2,678 - 2,678 2,622
305,366 36,064 341,430 281,019

Page 12

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

7. Grants and donations

7. Grants and donations
Parish share - paid to Diocese of Bristol
Mission giving
Other charitable giving
Giving to Mission partners
Institutions
Individuals
Other missionary and charitable giving		 2021
£
160,980
20,243
308		 2020
£
160,980
20,427
327
181,531 181,734
16,963
1,900
1,380		 16,867
2,500
1,060
20,243 20,427

8 Employees’ remuneration

The average number of persons employed by the charity during the year was as follows:

Youth workers and trainees
Director of music
Office and administration staff		 2021
2020
number
number
2
2
1
1
3
3
6
6

The aggregate payroll costs of these staff were as follows:

Office and administration staff
Employer’s national insurance contributions
Employer’s pension contributions
Youth workers and trainees
Director of music		 2021
2020
£
£
45,132
23,052
9,927
18,614
35,418
33,529
90,477
75,195
744
731
1,654
1,133
92,875
77,059

No employees were paid more than £60,000 in the year by the PCC.

The PCC members are considered the key management personnel of the PCC. No PCC member was paid any remuneration or working expenses during the year in their capacity as PCC members.

Page 13

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

9 Tangible fixed assets

Cost or valuation
At 1 January 2021
Additions
Revaluation
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Freehold
land and
buildings
(including
heritage
assets)
£
445,001
-
20,000		 Fixtures
fittings and
equipment
£
24,980
2,507
-		 Total
£
469,981
2,507
20,000
465,001 27,487 492,488
-
-		 24,980
835		 24,980
835
- 25,815 25,815
465,001 1,672 466,673
445,001 - 445,001

Freehold land and buildings consists of a house, 1 St Laud Close. The property was valued at £465,000 at the year end by N Powlesland MRICS Chartered Surveyor.

The historical cost of the freehold land and buildings was £141,893

The church rooms have been classed as heritage assets. As the property has restrictions that prevent it being sold, the PCC have valued it at £1.

Gift aid refund due
Prepayments
Accrued expenses
Other creditor
10 Debtors
11 Creditors: Amounts falling due within one year
Payroll taxes and pension contributions		 2021
£
11,118
2,232		 2020
£
19,444
1,578
13,350 21,022
2021
£
9,409
4,842
1,833		 2020
£
7,696
-
522
16,084 8,218

Page 14

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

12. Related Parties

Controlling entity: The charity is controlled by the PCC members.

Restricted Funds
Mission Fund
Earmarked fund
Mental Health Fund
Youth work fund
Hazelnut Community Farm
Lunch club
Hall fund
Unrestricted Funds
General fund
Designated funds
Building fund
Development fund
Capital reserve fund
Revaluation of fixed assets
Revaluation reserve fund
Total funds
13. Analysis of Funds		 1 January
2021
£
2,946
194
645
-
5,174
7,590
64,392		 Incoming
resources
£
14,555
4,708
300
6,311
5,185
2,155
-		 Resources
expended
£
(20,243)
(4,674)
(480)
(308)
(10,359)
(2,125)
-		 Transfer
31 December
2021
£
£
5,595
2,853
-
228
465
(6,003)
-
-
-
-
7,620
(46,699)
17,693
(47,107)
28,859
408
77,968
-
39,354
46,699
56,076
-
121,834
47,107
295,232
-
323,108
-
647,199
80,941 33,214 (38,189)
96,655
39,354
-
121,834		 301,940
-
9,377
-		 (321,035)
-
-
-
257,843 311,317 (321,035)
303,108 20,000 -
641,892 364,531 (359,224)

Unrestricted funds

Building fund

Development fund Capital reserve fund Restricted funds Mission fund

Earmarked fund

Hall fund

Sums set aside to meet non routine repairs and to meet expenditure due after each quinquennial review.

Legacies received and set aside to encourage the growth of the church. Accumulated profits on sales of fixed assets and exceptional write offs.

Donations received for distribution to mission partners and other charities.

Sums received where the donor has specified the purpose of the donation.

Donations received to develop the church buildings. Formerly this was the development fund but has now been split to keep donations for the Hall redevelopment separate

Youth Work fund

Hazelnut Community Farm Lunch Club fund Mental Health Fund

Donations received to support the youth work of St Marys.

Donations received to support the work of Hazelnut Community Farm. Accumulated funds held by the lunch club which provides a weekly lunch.

Donations received to support the work of a mental health support group.

Page 15

The Parochial Church Council of the Ecclesiastical Parish of St Mary Magdalene, Stoke Bishop Notes to the Financial Statements for the Year Ended 31 December 2021

14. Transfers

The following transfers have been made from the general fund:

£5,595to the Mission fund to support the mission partners.

The following transfers have been made to the general fund:

£6,003 from the Youth Work fund as a contribution towards the cost of youth worker salaries.

The following transfers have been made to the development fund:

£46,699 from the hall fund. In previous years there was one fund that received donations for the development of the church. It was decided by the PCC that it was more appropriate to split the funds as the legacies that have been received are not restricted in their use whereas the donations received for the Hall redevelopment are for a specified purpose.

15. Net assets by Fund

15. Net assets by Fund
Heritage assets
Current assets
Creditors: amounts falling due within one year
Tangible assets		 Unrestricted
Funds
£
466,673
1
167,750
(16,084)		 Restricted
Funds
£
-
-
28,859
-		 Total Funds
2021
Total Funds
2020
£
£
466,673
445,000
1
1
196,609
205,109
(16,084)
(8,218)
647,199
641,892
618,340 28,859

Page 16