Independent Examiner’s Report to the members/trustees, Parochial Church Council of Holy Trinity with St Edmunds, Horfield, Bristol, BS7 8ST
I report on the accounts for the year ended 31 December 2020, which are set out on pages 1 to 7
Respective responsibilities of PCC and examiner
As Trustees 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 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 Act.
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 accounts presented
with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of 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.
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.
Name: Kathryn Hodgkiss FCA
Relevant professional qualification or body: ICAEW Address: J F Balshaw & Co, 20 Old Kiln Lane, Heaton, Bolton. BL1 5PD
Date: 18th May, 2021
Parochial Church Council of Holy Trinity, Horfield Registered Charity No. 1132013
Statement of Financial Activities For the year ended 31 December 2020
| Unrestricted Funds Restricted Funds Note £ £ INCOMING RESOURCES Voluntary Income 2(a) 83,735.54 198.50 Activities from generating funds 2(b) 6,070.59 3,591.86 Income from investments 2(c) 5,579.47 257.11 Church activities and ancillary trading 2(d) 44,447.64 18,469.40 Other incoming resources 2(e) 0.00 0.00 TOTAL INCOMING RESOURCES 139,833.24 22,516.87 RESOURCES EXPENDED Fund-raising costs 3(b) 541.05 0.00 Church activities 3(a) 195,555.09 500.70 TOTAL RESOURCES EXPENDED 196,096.14 500.70 NET INCOMING RESOURCES BEFORE OTHER RECOGNISED GAINS AND LOSSES -56,262.90 22,016.17 Gains/(losses) on revaluation of investment assets 5(b) 0.00 0.00 NET MOVEMENT IN FUNDS -56,262.90 22,016.17 FUNDS BROUGHT FORWARD 01 JANUARY 82,092.20 7,020.68 FUNDS CARRIED FORWARD 31 DECEMBER 25,829.30 29,036.85 |
Endowment Fund £ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12,785.00 12,785.00 188,781.48 201,566.48 |
Total 2020 Total 2019 £ 83,934.04 92,045.70 9,662.45 7,377.18 5,836.58 5,772.96 62,917.04 49,829.29 0.00 1,800.00 162,350.11 156,825.13 541.05 729.86 196,055.79 149,159.69 196,596.84 149,889.55 -34,246.73 6,935.58 12,785.00 28,948.00 -21,461.73 35,883.58 277,894.36 242,010.78 256,432.63 277,894.36 |
|---|---|---|
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Parochial Church Council of Holy Trinity, Horfield
Registered Charity No. 1132013
Balance Sheet
As at 31 December 2020
| Note FIXED ASSETS Tangible 5(a) Investment 5(b) CURRENT ASSETS Stock Debtors 6 Short term deposits Cash in hand and at bank LIABILITIES Creditors amounts falling due within one year 7 NET CURRENT ASSETS / LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL NET ASSETS PARISH FUNDS Unrestricted 9 Restricted 9 Endowment 9 |
2020 2,554.00 201,566.05 204,120.05 0.00 17,639.45 5,002.89 30,164.00 52,806.34 493.76 52,312.58 256,432.63 256,432.63 49,905.52 4,961.06 201,566.05 256,432.63 |
2019 2,554.00 188,781.48 191,335.48 0.00 17,595.03 30,002.89 39,403.96 87,001.88 443.00 86,558.88 277,894.36 277,894.36 82,092.20 7,020.68 188,781.48 277,894.36 |
|---|---|---|
Approved by the Parochial Church Council on and signed on its behalf by
The Revd. Canon David McGladdery, SCP. (PCC Chair)
The notes on pages 3 to 7 form part of these accounts.
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Notes to the Financial Statements
For the year ended 31 December 2020
1. Accounting Policies
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP 2005.
The financial statements have been prepared under 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 rector and churchwarden's fund or accounts that owe their main affiliation to another body, nor those that are informal gathering of church members.
Funds
Endowment Funds are funds, the capital of which must be maintained, only income arising from the investment of the endowment may be used for general parochial and charitable purposes.
Restricted Funds represent income from donations or grants received 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 the year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund.
Unrestricted Funds are general funds that can be used for PCC ordinary purposes.
Incoming Resources
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate have been received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable and interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross.
Resources Expended
Grants and donations are accounted for when paid over, or awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross.
Fixed Assets
Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) of the Charities Act 2011.
Moveable church furnishings held by the rector and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time).
The curate's house, 31 Rosling Road, is valued at historic cost and the officers consider that it would be inappropriate to depreciate it given the anticipated market value.
The church hall was a gift from Yda Richardson and her sister Dame Janet Stancomb-Wills, provided at no cost to the church. Legally, the church hall is the property of the Diocese of Bristol, who are the custodial trustees; the PCC are the managing trustees.It is unclear whether the PCC would, practically, ever be able to realise any or all of the value of the asset. Therefore no value has been included in the Balance Sheet.
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2 INCOMING RESOURCES
| 2 INCOMING RESOURCES | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Funds | |
| Funds | Funds | Funds | 2020 | 2019 | |
| £ | £ | £ | £ | ||
| 2 INCOMING RESOURCES | |||||
| 2(a) Voluntary Income | |||||
| Planned giving: | |||||
| Gift Aid Donations | 56,369.15 | 0.00 | 0.00 | 56,369.15 | 61,206.00 |
| Tax recoverable | 17,683.87 | 0.00 | 0.00 | 17,683.87 | 17,595.03 |
| Other | 7,533.60 | 0.00 | 0.00 | 7,533.60 | 3,823.29 |
| Open plate | 1,534.97 | 0.00 | 0.00 | 1,534.97 | 6,637.33 |
| Sundry donations | 362.69 | 0.00 | 0.00 | 362.69 | 1,898.42 |
| Legacies | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Votive candles | 253.73 | 0.00 | 0.00 | 253.73 | 762.33 |
| Flood lighting | 0.00 | 145.00 | 0.00 | 145.00 | 60.00 |
| Publications | 0.00 | 53.50 | 0.00 | 53.50 | 63.30 |
| 83,738.01 | 198.50 | 0.00 | 83,936.51 | 92,045.70 | |
| 2(b) Activities for generating funds | |||||
| Events income | 570.59 | 0.00 | 0.00 | 570.59 | 819.10 |
| Special collections and appeals | 0.00 | 3,591.86 | 0.00 | 3,591.86 | 1,058.08 |
| Rental income from Vodafone Mast | 5,500.00 | 0.00 | 0.00 | 5,500.00 | 5,500.00 |
| Traidcraft income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 6,070.59 | 3,591.86 | 0.00 | 9,662.45 | 7,377.18 | |
| 2(c) Income from investment | |||||
| Dividends and distributions | 5,492.83 | 257.11 | 0.00 | 5,749.94 | 5,553.51 |
| Deposit account interest | 86.64 | 0.00 | 0.00 | 86.64 | 219.45 |
| 5,579.47 | 257.11 | 0.00 | 5,836.58 | 5,772.96 | |
| 2(d) Income from church charitable activities and | |||||
| ancillary trading | |||||
| Occasional offices | 2,129.00 | 0.00 | 0.00 | 2,129.00 | 3,282.50 |
| Income from insurance | 0.00 | 18,469.40 | 0.00 | 18,469.40 | 0.00 |
| Church hall income | 34,068.64 | 0.00 | 0.00 | 34,068.64 | 38,296.79 |
| Rent from Curate's House | 8,250.00 | 0.00 | 0.00 | 8,250.00 | 8,250.00 |
| 44,447.64 | 18,469.40 | 0.00 | 62,917.04 | 49,829.29 | |
| 2(e) Other incoming resources | |||||
| 0.00 | 0.00 | 0.00 | 0.00 | 1,800.00 | |
| TOTAL INCOMING RESOURCES | 139,835.71 | 22,516.87 | 0.00 | 162,352.58 | 156,825.13 |
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3 RESOURCES EXPENDED
| Unrestricted Funds Restricted Funds Endowment Funds £ £ £ 3 RESOURCES EXPENDED 3(a) Church Activities Missionary and charitable giving Royal British Legion Poppy appeal 200.00 0.00 0.00 Other Local Youth Organisations HYPC 0.00 0.00 0.00 105th Rainbows 0.00 0.00 0.00 105th Brownies 0.00 0.00 0.00 101st Guides 0.00 0.00 0.00 Ministry Diocesan Parish share 88,240.00 0.00 0.00 Incumbent expenses 186.39 0.00 0.00 Assistant staff expenses 0.00 0.00 0.00 Church and services Routine church maintenance 0.00 0.00 0.00 Major church repairs 30,355.65 296.20 0.00 Insurance 4,949.65 0.00 0.00 Heating, lighting and water 6,249.06 145.00 0.00 Sacristy 1,210.82 0.00 0.00 Director of Music 0.00 0.00 0.00 Occasional Organist 0.00 0.00 0.00 Organ and Pianos 2,987.29 0.00 0.00 Music and Choir 991.24 0.00 0.00 Flowers 218.00 0.00 0.00 Churchyard maintenance 2,805.46 0.00 0.00 Junior church & Youth Groups 0.00 0.00 0.00 Bells 0.00 10.00 0.00 Church Administration Administration and office costs 7,490.23 49.50 0.00 Administration salaries 7,687.56 0.00 0.00 Accounts honorarium 400.00 0.00 0.00 Other ordinary expenses Church Hall expenditure 41,583.74 0.00 0.00 Curate's house upkeep 0.00 0.00 0.00 195,555.09 500.70 0.00 3(b) Fundraising costs event costs 541.05 0.00 0.00 Traidcraft 0.00 0.00 0.00 541.05 0.00 0.00 TOTAL RESOURCES EXPENDED 196,096.14 500.70 0.00 |
Total 2020 200.00 0.00 0.00 0.00 0.00 88,240.00 186.39 0.00 0.00 30,651.85 4,949.65 6,394.06 1,210.82 0.00 0.00 2,987.29 991.24 218.00 2,805.46 0.00 10.00 7,539.73 7,687.56 400.00 41,583.74 0.00 196,055.79 541.05 0.00 541.05 196,596.84 |
2019 £ 200.00 872.04 195.60 387.48 356.16 86,520.00 546.57 0.00 1,891.15 0.00 3,177.74 5,465.39 2,668.56 1,999.92 210.00 1,382.40 2,321.83 128.35 0.00 13.39 10.00 6,500.17 7,982.47 250.00 25,887.13 193.34 149,159.69 729.86 0.00 328.72 149488.41 |
|---|---|---|
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| Unrestricted | Restricted | Endowment | Total 2020 | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Total 2019 | |||
| £ | £ | £ | £ | £ | ||
| 4 | STAFF COSTS | |||||
| 4(a) | Wages and Salaries | 9,819.65 | 0.00 | 0.00 | 9,819.65 | 9,982.39 |
| NI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 9,819.65 | 0.00 | 0.00 | 9,819.65 | 9,982.39 |
In December 2020 a new Director of Music was appointed, and in April 2020 a caretaker
| 5 FIXED ASSETS | ||||||
|---|---|---|---|---|---|---|
| 5(a) Tangible Assets | ||||||
| 2020 | 2019 | |||||
| Curate's House 31 Rosling Road | £ | £ | ||||
| The net book value of Rosling Road is based upon the purchase cost | 2,554.00 | 2,554.00 | ||||
| The officers consider that is | inappropriate to depreciate the asset | |||||
| Total tangible fixed assets | 2,554.00 | 2,554.00 | ||||
| The PCC hold buildings and contents insurance with the Ecclesiastical Insurance | ||||||
| Group for a value of £7,700,043 | ||||||
| (b) Investments | change | 2020 | 2019 | |||
| £ | £ | £ | ||||
| General Charitable purposes | CBF Fixed | 3597 | units | |||
| Interest | ||||||
| Fund | 207.91 | 6,101.23 | 5,893.32 | |||
| General Charitable purposes | CBF | 5388.78 | ||||
| Investment | units | |||||
| Fund | 7,103.49 | 110,401.55 | 103,298.06 | |||
| Chancel repairs | CBF | 448 | units | |||
| Investment | ||||||
| Fund | 590.56 | 9,178.31 | 8,587.75 | |||
| General Parochial purposes | CBF | 3704 | units | |||
| Investment | ||||||
| Fund | 4,882.61 | 75,884.96 | 71,002.35 | |||
| These investments are shown at the current market value as at 31 December | 12,784.57 | 201,566.05 | 188,781.48 |
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Market Value 01 January | 188,781.48 | 159,833.48 |
| Revaluation gain | 12,784.57 | 28,948.00 |
| Market Value 31 December | 201,566.05 | 188,781.48 |
The market value at 31 December 2020 represents investments for the CBF endowment fund which is restricted in use.
6 DEBTORS (UNRESTRICTED FUNDS) KN Office Tax Recoverable Total
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| 0.00 | 0.00 | |
| 17,639.45 | 17,595.03 | |
| 17,639.45 | 17,595.03 | |
| Page | 6 |
| 7 LIABILITIES | |||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| Auditor’s Honorarium | 400.00 | 250.00 | |
| Church Tower Clock | 0.00 | 0.00 | |
| Charities | 0.00 | 0.00 | |
| BDBF Ltd | 93.76 | 193.00 | |
| Total | 493.76 | 443.00 |
8 FUNDS
| 8 FUNDS | ||||||
|---|---|---|---|---|---|---|
| Fund | Fund at | Fund at | ||||
| 31st Dec | 31st Dec | |||||
| Movement | 2020 | 2019 | ||||
| £ | £ | £ | ||||
| Bell fund | -10.00 | 1,751.20 | 1,761.20 | |||
| Choir Robe Fund | 0.00 | 423.35 | 423.35 | |||
| Needlework Fund | 0.00 | 368.75 | 368.75 | |||
| Specific donations | 0.00 | 1,058.08 | 1,058.08 | |||
| Chancel Repair fund | 0.00 | 1,359.68 | 1,359.68 | |||
| Clock fund | Total | 0.00 -10.00 |
1,800.00 6,761.06 |
1,800.00 6,771.06 |
||
| Endowment Fund | 12,784.57 | 201,566.05 | 188,781.48 | |||
| 9 ANALYSIS OF NET ASSETS BY FUND | ||||||
| Unrestricted | Restricted | Endowment | Total | Total | ||
| Funds | Funds | Fund | Funds 2020 | Funds 2019 | ||
| £ | £ | £ | £ |
£ | ||
| Tangible fixed assets | 2,554.00 | 0.00 | 0.00 | 2,554.00 | 2,554.00 | |
| Investment fixed assets | 0.00 | 0.00 | 201,566.05 | 201,566.05 | 188,781.48 | |
| Current assets | 46,045.28 | 6,761.06 | 0.00 | 52,806.34 | 87,001.88 | |
| Liabilities | 493.76 | 0.00 | 0.00 | 493.76 | 443.00 | |
| Total | 48,105.52 | 6,761.06 | 201,566.05 | 256,432.63 | 278,780.36 |
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