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as/ ie auld CHARITY NUMBER 1131733
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
ACCOUNTS
For THE YEAR ENDED 31 DECEMBER 2020
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DUDLEY GORE & Co. 50 QUEEN STREET RAMSGATE KENT CT11 9EE
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
CONTENTS
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|---|---|---|---|---|---|
|Trustees|annual|report|l|
|Independent|Examiner’s|report|to the|Trustees|6|
|Income|and|expenditure|account|7|
|Balance|sheet|8|
|Notes|to the|financial|statements|9-18|
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Reference and Administrative Details
Holy Trinity Church is located in the town of Margate and within the Deanery of Thanet. It is part of the Diocese of Canterbury. The correspondence address is St. Mary’s Avenue, Margate, CT9 3TN. Churches with an income of more than £100,000 are now directed to register with the Charities Commission. Our Charities Commission number is 1131733. Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representative Rules.
PCC Members constitute Trustees under the Charities Act. PCC members who served from 1* January 2020 until the date of this report are:
Vicar (Chair)
a
Rev. Clifford Stocking
Curate
Rev. John Huffman
Churchwardens Ann Friedlos (From APCM April 2017) Michael Jarvis (From APCM April 2017)
Lay Reader Audrey Morris Deanery Synod Representatives Ann Friedlos (From APCM April 2017) Audrey Morris (From APCM April 2017) Wendy James (From APCM April 2017)
Elected Members of PCC
—
Norman Chester (From APCM April 2017) Julie Portanier (From APCM June 2019) Sally Posnett (From APCM April 2018) Denise Burring (From APCM June 2018) Christine Bolt (From APCM May 2019) Suzanne Lundie (From APCM April 2019) Anthony Leal (From APCM April 2019) Lorraine Williams (From APCM April 2019) Paul Harrison (From APCM October 2020) Nick Burring (From APCM October 2020) Jackie Tuppen (From APCM October 2020)
Officers in Attendance
Rosemary Griffiths (Hon, Secretary) Brian Portanier (Treasurer)
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT)
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31* December 2020. The trustees confirm that the annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the charity governing document and the provisions of the Statement of Recommended Practice (SORP) applicable in the UK and Republic of Ireland (FRS102) (effective January 2015) as amended by Update Bulletin 1 (effective January 2015)
Structure, Governance and Management
The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. Due to Covid restrictions the PCC held 4 meetings in 2020 plus the APCM in October 2020. From APCM 2020 the PCC consists of the Vicar, Curate, Lay Reader, 2 Churchwardens, | Deputy Warden (also PCC secretary), 3 Deanery Synod representatives, 9 elected members and Treasurer. At present there are 4 sub-committees; Fabric, Finance, Fundraising and Mission/Outreach/Education, In addition there is a Standing Committee comprising of the Vicar, 2 Wardens, Treasurer and one other elected member of the PCC.
Objects and Activities
Holy Trinity PCC is responsible, with the incumbent, for promoting the mission of the Church of England in the Ecclesiastical Parish of Holy Trinity Margate in the Diocese of Canterbury. It has maintenance responsibilities for the church buildings in the parish of Holy Trinity Church. The Halls were leased for the first part of the year to Trinity Resource Centre, which had maintenance responsibilities for this part of the building until they surrendered the lease on the last day of August 2020,
Achievements and Performance
Church Attendance
There are 104 parishioners on the Church Electoral Roll.
The Usual Sunday Attendance for 2020 has been worked out on the basis that the church was only open for 36 weeks. There were 9 “normal “weeks and 27 with social distancing but not lockdown. The USA for the nine weeks was 111. The overall USA for the 36 weeks was 64.
Review of the year
In the first part of 2020 the Parish of Holy Trinity continued to experience substantial spiritual growth under the leadership of Rev. Clifford Stocking, with church members working well together in formal and informal groups~ and organisational settings in the church, homes and the community. This was then disrupted due to the first national lockdown in March 2020 due to COVIDI9 but contact with the congregation continued through electronic media until we were able to resume face to face contact thereafter.
The PCC met 4 times during the year. Discussions and decisions included al] aspects of our finances and also management processes and structures which were revisited from time to time during the year, Due to Covid restrictions the APCM was eventually held in October 2020.
Sunday Services at 8.30am and 10am continued following Diocesan guidelines relating to Covid restrictions before the first lockdown the children met for their groups during the service and Sunday Afternoons @ HT (with ages ranging from 3-16 with 50 young people on the books). On Wednesdays at 10.30am a service of Holy Communion was held. Meetings for daily prayer were at 8.00am to 8.30am Monday to Thursday and also on Wednesdays from 8.30am to 9.30am.
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~ THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT)
The attendance at the Toddlers group had increased and Messy Church, held mainly on Saturday afternoons 10 times per year, attracted between 10 and 25 children plus their parents/carers. Homegroups continued to meet, and a Church Bible Group was held every Thursday morning at church. Lenten and Holy Week meetings were also held. The Trinity café, opened from 9-2.00pm Monday to Friday, attracting and welcoming people into the Resource Centre and provided a focal point between church and secular activities. From this base our mission and pastoral ministry to the local community and congregation flowed.
From the 1*°f September 2020 all the buildings came back under the PCC and this has meant that the church has had to spenda large part of its capital reserves on addressing many areas of maintenance that were highlighted as being neglected before, primarily the heating system, lighting, phones and internet, doors and major kitchen equipment, added to this new service agreements. It has also kept the doors open to the community in line with all government guidelines and laws and was approached by several groups to use the buildings during this time, MHM Safehaven, NHS cardiac rehabilitation unit and the TRC’s former Preschool now under private ownership via Moxam Ltd still known as Sunshine preschool and fully Ofsted registered. All these have allowed for us to open the buildings and meet the day to day running costs.
PCC Financial Review for 2020 (B. Portanier, Treasurer)
Understandably the past 12 months have been very challenging in the life of Holy Trinity. Being unable to meet for Sunday services at the beginning of the pandemic as well as all social and fundraising events being cancelled has naturally had an impact on our finances as well as our church life. Our normal Sunday income was understandably impacted. Although standing order payments remained fairly stable, income via the envelope scheme and coin collection reduced substantially. This does highlight the importance of standing orders as without this we would have been unable to fulfil our commitments of paying the Parish Share, our employees, heating, lighting and other utility bills. We are very grateful to all who continued to make their contributions in this way. In March, whilst coping with the unprecedented situation with Covd-19, we also had to deal with the closure of the Trinity Resource Centre.
_
Managing one of these issues in normal times would be a challenge but having to also deal with the insolvency of the TRC was a demanding time for the PCC. We initially had to instigate a moratorium to enable us to pay our essential bills and help conserve our resources. This also necessitated reducing our payment to the Diocese for the Parish Share. The Parish Share for 2020 was £74,081 and is our main annual expense. Gift Aid payments were not received regularly during 2020 with delays often being two or three months causing further cash flow problems and necessitating the use of our reserves.
During the Covid-19 lockdown we furloughed our employees which did help provide a welcome lifeline with the Government paying 80% of salaries unti] August. The receipt of a legacy in June of £113,087.34 allowed us to pay the outstanding amount of Parish Share including the arrears of £7,346 by the 31 October. These very welcome funds also allowed work in the halls and nursery to recommence.
As at 31 December 2020 around £32,000 had been spent to refurbish and bring Holy Trinity Centre up to a high level of specification to welcome our community in a warm and comfortable environment. The following maintenance work was carried out during 2020 Replacement of two boilers and associated work £13,419 CCTV upgrade £ 2,170 Electrical works £ 6,362 Deposit for new reception entrance doors £ 2,500 (Balance of£2,500 payable Feb 2021) Roof repairs and annual maintenance £ 700 The church hygiene contracts for the restrooms and halls were also renegotiated.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT
Thanet Safehaven (Mental Health Matters) now has a regular hire agreement and requested additional secure storage space. We agreed to purchase two large storage container units at a cost of £3,508 for the use by the church and the charity. The containers have been installed in the church car park, Nick Burring kindly agreed that the Sea Scouts would pay for one unit. Special thanks go to Nick and Clifford for preparing the groundwork and foundations for these containers.
The Sea Scouts under Nick’s guidance were also instrumental in taking care of the maintenance and repainting of window frames of the church halls and offices.
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Other works and maintenance completed during 2020:
For a full list of works completed please see the Fabrics Report
Organ Tuning Inspection & Cleaning £276
Fire Extinguishers Test & Annual Inspection £210
Gas Boiler Annual Servicing + Safety Certificate £264
Fire Alarm Servicing £108
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Accountants
We will no longer be using Macintyre Hudson as our accountants from January 2021 having been informed that their charges would be increasing from £1,080 to £3.000.
Having been unsuccessful in negotiating a reduction of their fees due to our charitable status and our long standing association with them we have now engaged the services of Dudley Gore, Queen Street Ramsgate.
Hall Rentals / Lettings
Due to the insolvency of the TRC in August 2020, all bookings for the hall and rooms were cancelled. This also reduced our monthly income by a further £1,000 which was their contribution for the lease of the premises.
Once the Centre was vacated an inspection of the property was made. It was apparent that a considerable amount of work in terms of overdue maintenance and neglect of the upkeep of the Centre was highlighted. When the TRC was handed back to us an inspection of the inventory of assets left was carried out. The majority of the catering items and utensils, crockery etc had been removed leaving us with minimal usable catering items.
.
It will be necessary in time to replace and repurchase items of this nature and electrical equipment in order to fully restock and make the H T cafe a place for our community to meet once we are allowed to do so in a safe way following the lifting of lockdown in 2021.
It was also noted that the kitchen extractor fans will need to be replaced as these have not been in working condition since 2019; we estimate this would cost approximately £7,000.
However, in March before any rental of the property could be contemplated a total Lockdown of the UK was imposed and all work was suspended. During this time, Lorraine and Clifford undertook a full review of all of the TRC utility contracts, Without an expected full handover from the TRC team it was left to L&C to spend many weeks to investigate and contact all the providers, My thanks go to Lorraine and Clifford for the work done in this respect to take over or source new companies to provide gas, water, electrical and telephony suppliers for the New Holy Trinity Centre. In December our annual Red Envelope Advent Appeal ‘Christmas Gift to God’ raised £743.50
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT)
Parish Nursing
We received a grant of £15,000 from the Colyer Ferguson Foundation in order to continue with our work in the community.
Missions
PCC agreed to make a financial contribution of £3,000 in support of six Missions. A donation of £500 was made to each of the following:
Thanet Food Bank, Mission Guatemala, Send A Cow, Gospel for Asia, The Seafarers Mission and Still Waters.
a,
Reserves Policy
The Parochial Church Council’s policy is to hold most of its limited reserves in interest bearing cash deposits whilst retaining minimal balance in the current account.
Small investments are held in the Restricted Funds.
The Cobb Lectureship Fund is held in the Investment Fund of the Church of England Board of Finance.
APPROVED BY THE PCC SIGNED ON THEIR BEHALF
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2) a a
Rev. Clifford Stocking (Vicar)
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2) a a Date: 24 d ot: 2
Rev. Clifford Stocking (Vicar)
Date: 24 s | Zz
Ann Friedlos (Churchwarden)
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Michael Jarvis (Churchwarden)
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
INDEPENDENT EXAMINER’S REPORT
I report to the PCC on my examination of Holy Trinity Church, Margate (the Church) for the year ended 31" December 2020,
RESPONSIBILITIES AND BASIS OF REPORT
As members of the PCC you are responsible for the preparation of the accounts in accordance with the Church Accounting Regulations 2006 (the Regulations) and the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the PCC’s accounts carried out under the Regulations and section 145 of the Act, and in carrying out the examination I have followed all applicable Directions given by the Charity Commission under section 145 (5)(b) of the Act.
INDEPENDENT EXAMINER’S STATEMENT
I have completed my examination. | confirm that no material matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
- accounting records were not kept in respect of the PCC as required by Section 130 of the Act; * the accounts do not accord with those records; or * the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. b. “ PETER R SMITHSx \ Date: 2% j Me 2o>.\
ICPA [Fellow] ACPA Dudley Gore & Co 50 Queen Street Ramsgate, Kent CT11 9EE
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THE PAROCHIAL CHURCHOF HOLYCOUNCIL TRINITY,OF MARGATETHE ECCLESIASTICAL PARISH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
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|---|---|---|---|---|---|---|---|---|---|
|UNRESTRICTED|RESTRICTED|ENDOWMENT|TOTAL|TOTAL|
|FUNDS|FUNDS|FUND|
|2020|£|2020|£|2020|£|2020|£|2019|£|
|INCOMING AND ENDOWMENTS|FROM|
|Charitable|activities|
|Voluntary|income|2|180,057|15,750|-|195,807|189,944|
|Activities|for generating|finds|3|17,748|-|-|17,748|15,123|
|Income|from|investments|
|Dividends|from UK|investments|51|3,332|.|3,383|3,235|
|Church|activities|4|2,881|-|-|2,881|11,226|
|Other income|-|.|im|e|Ss|
|TOTAL|INCOMING|RESOURCES|200,737|19,082|.|219,819|219,528|
|RESOURCES EXPENDED|
|Charitable|activities|
|Church|activities|
|The|Ministry|5a|$0,819|-|-|80,819|$1,881|
|The|Church|5b|44,233|282|-|44,515|46,906|
|The|Services|-|-|-|-|-|
|Other expenses|5c|24,435|10,927|30,000|65,362|76,380|
|Governance|costs|6|576|-|-|576|1,080|
|TOTAL RESOURCES EXPENDED|150,063|11,209|30,000|191,272|206,247|
|NET INCOMING/[OUTGOING]|
|RESOURCES|FOR THE YEAR|50,674|7,873|(30,000)|28,547|13,281|
|Transfers|between|funds|23,089|(23,089)|-|-|-|
|Net INCOME/|EXPENDITURE]|73,763|(15,216)|(30,000)|28,547|13,281|
|AFTER TRANSFERS|
|RECONCILIATION OF FUNDS|
|Total|funds brought forward|76,368|41,716|1,110,000|1,228,084|1,214,803|
|TOTAL|FUNDS CARRIED FORWARD|16|150,131|26,500|1,080,000|1,256,631|1,228,084|
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
BALANCE SHEET AT 31 DECEMBER 2020
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|||||||
|---|---|---|---|---|---|
|NOTE|2020|2019|
|£|£|
|FIXED ASSETS|
|Tangible|Assets|12|1,080,000|1,110,000|
|CURRENT ASSETS|
|Debtors|13|2,397|6,259|
|Cash|at bank and|in|hand|176,675|113,491|
|179,072|119,750|
|CREDITORS|
|Amounts|falling due|within|
|one year|14|2,441|1,666|
|NET CURRENT ASSETS|176,631|118,084|
|NET ASSETS|1,256,631|1,228,084|
|FUNDS|
|Endowment|funds|1,080,000|1,110,000|
|Restricted|funds|16|26,500|41,716|
|General|funds|16|150,131|76,368|
|TOTAL FUNDS|1,256,631|1,228,084|
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These accounts wereapprovedby the Trustees on a 70%ps andNo
Ann Friedlos (Churchwarden)
Michael Jarvis (Churchwarden)
Clifford Stocking (Vicar)
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
a] Accounting Convention
The financial statement of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2105)’, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland’, the Charities Act 2011 and the Church Accounting Regulations 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Financial Reporting Standard 102 — reduced disclosure exemptions The charity has taken advantage of the following disclosure exemption in preparing these financial statements as permitted by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland: - the requirement of section 7 Statement of Cash Flows
b] Expenditure
All expenditure is included in full in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably.
The PCC’s policy has for some time been to give 10% of its incoming resources from donors and other voluntary sources to missionary undertakings at home and overseas. Accordingly this expenditure is provided in the same period that the income is received so as to ensure the expenditure is matched with the appropriate income, even though it does not represent a legally enforceable liability.
The Diocesan parish share is accounted for when paid.
Charitable activities are costs associated with achieving the Church’s aims. Governing costs represent the running costs of being a charity, such as the independent examiner’s fee.
c] Income
Income is generally recognised on a receivable basis, where the amount is reasonably certain and where there is adequate certainty of receipt. Income is not deferred.
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable after Gift Aid is recognised only when received. Gifts through the Give As You Earn (GAYE) scheme are recognised when the gift is deducted from the donor’s salary. Legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount is quantifiable and its ultimate receipt by the PCC is reasonably certain. Rental income from the letting of the church premises is recognised when the rental is due. The investment income arising from the endowment fund is restricted.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
dj] Funds
General accumulated funds are unrestricted funds available to the Church for its general purposes and include funds designated by the Church for a particular purpose; the use of which remains at the discretion of the trustees.
Restricted funds are funds subject to restrictions imposed by the donor or by the specific terms of the appeal under which the funds are raised.
Permanent endowment funds are restricted funds where the trustees do not have authority to convert the capital into income or other capital.
e] Fixed assets
Consecrated and beneficed property of any kind is excluded from the accounts by 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 whict require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the Church inventory which can be inspected at any reasonable time. For inalienable property acquired prior to 1" January 2000, there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1* January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic lives (initially 4 years) on a straight line basis.
Depreciation of freehold land and buildings commenced at a rate of 2% per annum ona straight line basis.
Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £2,000 or less are written off when the asset is acquired.
2. VOLUNTARY INCOME
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | TOTAL | ||
|---|---|---|---|---|---|---|
| FUNDS | FUNDS | |||||
| 2020 £ |
2020 £ |
2020 | £ | 2019 | £ | |
| Service collections | 2,690* | - | 2,690 | 7,915 | ||
| Freewill offeringsandGAYE Gift Aid tax refunds Bequestsand Legacies Community Garden ParishNurse |
53,518 “ §,303 ~ 113,087 ~ : 287 |
- - - 750 = - |
53,518 5,303 113,087 750 287 |
56,660 16,378 80,000 . - |
||
| ColyerFerguson Trust Donations Other Income |
- 5,021: 151 «~ |
15,000 — es - |
15,000 5,021 151 |
15,000 6,067 424 |
||
| The Maurice& Hilda LaingTrust | : | - | - | 7,500 | ||
| 180,057 | 15,750 | 195,807 | 189,944 | |||
| eee | eee | ee | a |
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
ain
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
3, ACTIVITIES FOR GENERATING FUNDS
—~
| UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
TOTAL | TOTAL | |
|---|---|---|---|---|
| 2020 £ |
2020 £ |
2020 £ |
2019 £ | |
| HireofHalls ThanetResourceCentre contributions |
7,939 9,809 |
. - |
7,939 9,809 |
. 15,123 |
| Other fundraising | ||||
| Be | re | |||
| 17,748 | 17,748 | 15,123 | ||
| ee | ——————— | |||
| 4. CHURCH ACTIVITIES | ||||
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | |
| FUNDS | FUNDS | |||
| 2020 £ |
2020 £ |
2020 £ | 20192 | |
| Fees SundayCoffeeMorning Fundraisingevents |
2,767= - 2,767 114 — - 114 - - - eran aE |
6,067 702 4,457 |
||
| 2,881 | - | 2,881 | 11,226 | |
| —— | eee | — | ||
| 1 | i | |||
| 5. CHURCHACTIVITIES | ||||
| UNRESTRICTED FUNDS 2020 £ |
RESTRICTED FUNDS 2020 £ |
TOTAL 2020 £ |
TOTAL 2019 £ |
|
| aTheMinistry Donations toMissionary Giving 3,827 —~— ParishContributionfor Vicar&CurateStipend 74,366we VicarCosts 5517 Curate Costs 965 Feespaid 1,110 « |
- - - . - |
3,827 74,366 551 965 1,110 |
3,240 73,795 1,144 640 3,062 |
|
| 80,819 | - | 80,819 | 81,881 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
5. CHURCH ACTIVITIES (CONT.)
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | |||
|---|---|---|---|---|---|---|
| FUNDS | FUNDS | |||||
| 2020 £ |
2020 £ |
2020 £ |
2019 £ | |||
| b The Church Cleaningand Insurance Light,Heatand Water FundRaising Maintenance |
6,015 6,632 —~ - 31,586— |
- - - 282 |
6,015 6,632 - 31,868 |
5,745 5,931 1,925 33,305 |
||
| 44,233 | 282 | 44.515 | 46,906 | |||
| ————————————_ | EEE | ————————— | ||||
| UNRESTRICTED | ENDOWMENT | TOTAL | TOTAL | |||
| FUNDS RESTRICTED |
FUNDS | |||||
| 2020 £ 2020 |
£ | 2020 £ |
2020 £ |
2019 £ | ||
| c OtherExpenses Contribution toTRCentresalaries Youth Ministry . BankCharges Depreciation ParishAdministration General Expenses |
17,046” 10,927 256 + . 263 - - - 5,027— - 1,843 — - |
- - - 30,000 - - |
27,973 256 263 30,000 5,027 1,843 |
24,274 642 442 30,000 18,871 2,151 |
||
| 24,435 10,927 |
30,000 | 65,362 | 76,380 | |||
| ee | __ | _————————— |
6. GOVERNANCE COSTS
| UNRESTRICTED | TOTAL | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| FUNDS | |||||
| 2020 £ |
2020 | £ | 2019 £ | ||
| Independent examiner’s | fee | 576 = | 576 | 1,080 | |
| 576 | 576 | 1,080 | |||
| i | ————— |
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
7, TRUSTEE’S REMUNERATION AND EXPENSES
The Reverend Clifford Stocking was appointed as the Church vicar from 30 January 2017. During his tenure he receives a stipend from the Diocese and lives in accommodation paid for by the Diocese. Usually trustees are not allowed to receive a salary. However, the Charity Commission have made a dispensation for licensed clergy to receive a stipend and housing. Reimbursement of expenses have been made to some trustees. The details are as follows:
| No. of | 2020 | No.of | 2019 | |
|---|---|---|---|---|
| Trustess paid | £ | Trustesspaid | £ | |
| Mileage andtravelling Miscellaneous |
1 1 |
205 346 |
1 ] |
621 522 |
| 551 | 1,143 |
8. EMPLOYEES REMUNERATION
During the year the church employed the equivalent of 1.5 full time staff: One full time administrator, one part time Director of Music. The total cost of these employees was:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Grosswages Employer’sNI Employer'spension FurloughClaims |
31,194 — 160 —~ 836~ (4,190) |
25,410 969 261 % |
| 28,000/ | 26,640 |
This figure is paid to Thanet Resource Centre who pay the employees on behalf of the PCC. In addition the Diocese paid a stipend to a full time vicar who worked in the parish. Each PCC makes a voluntary payment to the Diocese, part of which is to help defray the costs of the clergy. Accounting regulations require confirmation that none of the employees earned more than £60,000.
9, INDEPENDENT EXAMINER’S FEE
The accounts include an accrual of £576 (2019 £1,080) payable to the independent examiner, £288 (2019 £540) of which relates to accountancy and £288 (2019 £540) to the examination of the accounts and accounting records.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
10. RELATED PARTIES
The church rents premises to the Trinity Resource Centre (TRC) a charitable company which shares some trustees with Holy Trinity Church. During the year the TRC paid the church £8,000 (2019 £12,000) in respect of rent, £1,271 (2019 £1,906) as a contribution towards insurance and £797 (2019 £1,196) as a contribution towards photocopier costs. At the end of the year photocopy contributions of £0 (2019 £100) and insurance contributions of £0 (£159) were still due.
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| UNRESTRICTED | UNRESTRICTED | RESTRICTED | ENDOWMENT | ENDOWMENT | TOTAL |
|---|---|---|---|---|---|
| Incomeand Endowmentsfrom | |||||
| Charitable Activities | |||||
| Voluntary income Activities forgenerating funds Income from Investments |
167,444 15,123 - |
22,500 - 3,235 |
- - - |
189,944 15,123 3,235 |
|
| Church activities | 11,226 | - | - | 11,226 | |
| Other income | - | - | - | - | |
| 193,793 | 25,735 | - | 219,528 | ||
| Expenditure on | |||||
| Charitable Activities | |||||
| Church Activities The Ministry TheChurch |
81,881 44,723 |
- 2,183 |
- - |
81,881 46,906 |
|
| The Services OtherExpenses Governance costs |
- 46,380 1,080 |
- . - |
- 30,000 - |
- 76,380 1,080 |
|
| Total | 174,064 | 2,183 | 30,000 | 206,247 | |
| NetIncome/(Expenditure) | 19,729 | 23,552 | (30,000) | 13,281 | |
| Transfersbetween funds | (10,407) | 10,407 | - | - | |
| NetIncome/(Expenditure) aftertransfers | 9,322 | 33,959 | (30,000) | 13,281 | |
| Balance broughtforward | 67,046 | 7,757 | 1,140,000 | 1,214,803 | |
| Balance carried forward | 76,368 | 41,716 | 1,110,000 | 1,228,084 | |
| —————————————————————————————————————————————ee | ooo | —— |
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
12. TANGIBLE FIXED ASSETS
| Freehold land | ||
|---|---|---|
| and buildings | ||
| DEEMEDCOST | £ | |
| At 1/1/2020and 31/12/2020 | 1,500,000 | |
| DEPRECIATION | ||
| At 1/1/2020 | 390,000 | |
| Chargefortheyear | 30,000 | |
| At 31/12/2020 | 420,000 | |
| NETBOOKVALUE | ||
| At31/12/2020 | 1,110,000 | |
| At31/12/2019 | ; | 1,080,000 |
The charity has taken advantage of an exemption as permitted by FRS102 to use the previous valuation under GAAP as deemed cost of the property.
| 13. DEBTORS | 2020 £ |
2019 £ |
|---|---|---|
| GiftAid Otherdebtorsandprepayments |
1,609 788 |
6,000 259 |
| 2,397 | 6,259 |
14, CREDITORS
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Due in less than one year: Sundry Creditors |
2,441 | 1,666 |
| 2,441 | 1,666 |
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
TOTAL 2020
| UNRESTRICTED | RESTRICTED | ENDOWMENT | TOTAL | |
|---|---|---|---|---|
| Tangible Assets NetCurrent Assets |
- 150,131 |
- 26,500 |
1,080,000 - |
1,080,000 176,631 |
| Total | 150,131 | 26,500 | 30,000 | 1,256,631 |
| ———— | SS | ee | ——— | |
| TOTAL 2019 | ||||
| UNRESTRICTED | RESTRICTED | ENDOWMENT | TOTAL | |
| Tangible Assets NetCurrent Assets |
- 76,369 |
- 41,716 |
1,110,000 - |
1,100,000 118,084 |
| Total | 76,369 | 41,716 | 1,080,000 | 1,228,084 |
| om | —— eee |
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
16. FUNDS
| 16. FUNDS | |||||
|---|---|---|---|---|---|
| TOTAL2020 | ASAT 1/1/2020 |
INCOME | EXPENDITURE | TRANSFERS | ASAT 31/12/2020 |
| Unrestricted general fund | 76,368 | 200,737 | (150,063) | 23,089 | 150,131 |
| Restricted funds: | |||||
| AHulme StMary’sChapel Fund CobbLectureship |
12,500 411 7,257 |
3,332 ~ | (12,500) (10,589) |
411 | |
| The Maurice& Hilda LaingTrust | 7,500 | (7,500) | |||
| Colyer Ferguson | 14,048 | 15,000 — | (3,427) | 25,621 | |
| Communal Garden Fund | 750), | (282) | 468 | ||
| Total restricted funds | 41,716 | 19,082 | (11,209) | (23,089) | 26,500 |
| Permanent Endowment Fund: | |||||
| Properties | 1,110,000 | (30,000) | 1,080,000 | ||
| Total funds | 1,228,084 | 219,819 | (191,272) | 1,256,631 | |
| TOTAL2019 | ASAT 1/1/2019 |
INCOME | EXPENDITURE | TRANSFERS | ASAT 31/12/2019 |
| Unrestrictedgeneral fund | 34,745 | 193,793 | (174,064) | 21,894 | 76,368 |
| Unrestricted designated funds: AHulme Harris Legacy |
25,000 7,301 |
(25,000) (7,301) |
- - |
||
| Total designated funds | 32,301 | (32,301) | - | ||
| Restricted funds: | |||||
| AHulme | 12,500 | 12,500 | |||
| St Mary's Chapel Fund Cobb Lectureship TheMaurice& HildaLaingTrust |
1,423 | 3,235 7,500 |
(1.012) | 4,022 | 411 7,257 7,500 |
| ColyerFerguson DWeir—planters D Weir — flowers |
750 131 |
15,000 | (952) (98) (121) |
(652) (10) |
14,048 - - |
| Gift forEvangelisn | 1,253 | (1,253) | - | ||
| Anonymous donation | 1,250 | (1,250) | - | ||
| Restricted May 2014 | 2,170 | (2,170) | - | ||
| Vicar’s Discretionary Fund | 780 | (780) | - | ||
| Total restricted funds | 7,757 | 25,735 | (2.183) | 10,407 | 41,716 |
| Permanent Endowment Fund: | |||||
| Properties | 1,140,000 | (30,000) | 1,110,000 | ||
| Totalfunds | 1,214,803 | 219,528 | (206,247) | - | 1,228,084 |
——
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, MARGATE
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONT.)
RESTRICTED FUNDS
A HULME LEGACY An amount set aside from the original legacy. The Executors asked for this amount not to be used for 2 years just in case any distant relatives, not yet traced, came forward.
ST MARY’S CHAPEL FUND A fund set up to refurbish St Mary’s Chapel, a 19" Century building attached to Holy Trinity Church. A £1,000 gift received in 2013 is to be used specifically towards the replacement of the Chapel lights and associated electrics.
CoBB LECTURESHIP An historic fund set up in the 19" Century to provide finance for the appointed “Cobb Lecturer”. The terms of such a lecturer are now not clear but the PCC attempt to interpret this by applying the funds to defray the costs of specific ministry areas within the life of the Church, The PCC took the decision to transfer any unspent balance on the fund at the end of the year to general reserves.
COLYER FERGUSON The Colyer Ferguson Trust grant was applied for and awarded in 2019. This was provided for the setting up and funding for the provision of a Parish Nurse for the benefit of the local community.
THE LAING TRUST The Laing Trust was a grant which we applied for and was awarded for the setting up of and to train and fund a Parish Nurse.
COMMUNITY GARDEN FUND Including £500 from the Mayor's Grant Fund a total of £750 has been provided for this project.
ENDOWMENT FUNDS
Buildings The Endowment Fund represents the value of the buildings made available for use by the Church at no cost to the PCC.
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