2021-12-31-accounts

The Parish of the Transfiguration - Little Bowden

Report and Accounts

for the Year Ended 31 December 2021

The Parish of the Transfiguration - Little Bowden Charity Information For the Year Ended 31 December 2021

Status The parish is a registered charity within the Anglican Diocese of Leicester. Charity Registration Number 1132167 PCC Members The members who served during the year are listed in the PCC Report. Address for Correspondence The Secretary of the PCC 61 Symington Way Market Harborough Leicestershire LE16 7XA Independent Examiner Adrian A. Bentley B.Sc. A.C.A. Edward Thomas Peirson & Sons 21, The Point Rockingham Road Market Harborough Leicestershire LE16 7NU Bankers Barclays Bank PLC Leicester LE87 2AB

CONTENTS

	Page
Charity Information	1
Annual report on the proceedings of the PCC and the activities of the parish	2-5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Accounts	9-18

1

The Parish of the Transfiguration - Little Bowden Annual report on the proceedings of the Parochial Church Council (PCC) and the activities of the parish for the year ending 31 December 2021

The PCC present their report and the financial statements of the parish for the year ended 31st December 2021. The PCC have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 in October 2019.

Administrative Information

The Parish of the Transfiguration, Market Harborough comprises of two churches, St. Hugh, Northampton Road, Market Harborough and St. Nicholas, Little Bowden. The Parish is part of the Harborough Anglican Team in the Deanery of Gartree and the Diocese of Leicester.

Correspondence with regard to the business of the parish is welcomed and should be addressed to: Mrs. Ann Hathaway The Secretary of the PCC 61 Symington Way Market Harborough Leicestershire LE16 7XA

The affairs of the two churches are managed by this Council comprising elected representatives of the laity and representatives of the laity elected to the Deanery Synod, co-opted members and ex-officio members (clergy, readers, wardens and officers). This Council has delegated some of its responsibilities to two District Church Councils (DCC), one for each church. The DCCs consist of those PCC members who habitually worship at that church together with additional members of the laity of that church who are elected at a meeting of worshippers. Each DCC is responsible for the organization of that church’s worship; for ministry and mission within the community and for the care, maintenance and development of its buildings, all subject to the PCC retaining financial responsibility.

The following persons have served as members of the PCC during the year ending 31st December 2021.

Ex Officio members		Elected members
Miss E Allen	Pastoral Assistant	Mrs G Baverstock	Appointed 18/04/21
Mrs E Bangerter	Pastoral Assistant to 31/08/21	Mrs H Baxter	Appointed 18/04/21
Mrs G Driver	Church Warden	Mrs S Duke	Resigned 18/04/21
Mrs S Duke	Deanery Synod Rep	Mrs V Dunton
Mrs A Hathaway	Deanery Synod Rep and Secretary	Mrs A Hathaway	Resigned 18/04/21
Mr A Michaelwaite	Deanery Synod Rep	Mrs K Helm	Safeguarding Officer
Mrs N Michaelwaite	Church Warden from 18/04/21	Mr S Joy
Ms E Wallace	Church Warden to 18/04/21	Mrs J Mann	Resigned 18/04/21
Mrs E Webb	Church Warden	Mrs N Michaelwaite	Resigned 18/04/21
Rev'd A Iliffe	Vicar	Mrs S Pyne	Appointed 21/07/21
Rev'd R Leveritt	Assistant Curate	Mrs S Saunders
Rev'd S Cooper	Associate Priest	Mrs J Sharman
Rev'd Canon A Helm	Associate Priest	Mrs E Tubb
Rev'd B Hill	Team Rector	Mr A Wells	Treasurer

Structure, governance and management

The role of the PCC is that of an accountable executive body with the responsibility to review and regulate the affairs of the parish. It is supported in this role by the DCCs. A Fabric Committee at St Nicholas' Church deals with all building matters and a Building for Mission group deals with a reordering project at St Hugh's Church. Each church has a Hall Committee and an Events and Social Committee.

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The Parish of the Transfiguration - Little Bowden Annual report on the proceedings of the Parochial Church Council (PCC) and the activities of the parish for the year ending 31 December 2021

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.

Rev'd Alison Iliffe is Team Vicar of the Parish with responsibility for both St Hugh’s and St Nicholas’ congregations and chairs meetings of the PCC. Rev'd Rob Leveritt was ordained a priest in October 2021 and is licensed as Assistant Curate in the parish. Retired priests, Rev'd Susan Cooper and Rev'd Canon Alistair Helm are also licenced to the Parish.

Aim and purposes

The primary object of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. The PCC are required, as stated in the Parochial Church Councils (Powers) Measure 1956, to cooperate with the incumbent in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Objectives and activities

The PCC is committed to enabling as many people as possible to worship at our churches and to become part of our parish community, the main activities that have been adopted to achieve these objectives are the provision of regular worship services, provision of pastoral care for people living in the parish as well as the organisation of and participation in community events. Coronavirus restrictions continue to curtail in building and group activities, but, along with the other parishes in the Harborough Anglican Team, systems have been implemented to enable everyone who is, or requests to become, a member of the worshiping community to receive information and resources to worship God. Churches were open for part of the year subject to government and diocesan guidelines and use was made of outdoor spaces around the Church buildings to allow some public worship and provide space for private reflection and remembrance of those lost during the pandemic. Displays in the churchyard/gardens have been warmly received by the community.

The PCC members have complied with the duty in Section 4 of the Charities Act to have due regard to the public benefit guidance published by the Charity Commission. The Parish has adopted Promoting a Safer Church , the Church of England’s Safeguarding Policy for children, young people and adults.

Achievements and performance

Church attendance

The number on the Electoral Roll at the end of 2021 was 112. All in-building services except funerals were suspended in January but churches were open for private prayer for 2 hours each week subject to Covid protocols established in 2020. From Easter to mid July churches opened for a 10 am service alternating between St Nicholas and St Hugh each week with numbers attending restricted and a booking system put in place. These services were streamed on the parish Facebook account. Restrictions on singing and booking were lifted in July, although mask wearing, hand sanitizing and social distancing were encouraged. A weekly Sunday afternoon Team Zoom service, connected with people from across Market Harborough and the Bowdens, was stopped when the churches were opened in July.

Festival and special services normally held in church buildings and well attended (e.g. Easter, Harvest, Remembrance Sunday and Christmas services), were all affected by these restrictions. Services of hymns and carols held on the Green between St Nicholas' Church and Hall in September and at Christmas were popular with congregations and the local community. Over 200 people attended the Carols on the Green where the Harborough Town Band provided the music. Three Scout Groups visited the church and engaged in activities and used the historical records of those commemorated on the monument in St Nicholas' Church Yard.

A fortnightly Night Prayer Zoom service on Wednesdays at 7pm continues to attract people from across the Team. A Christmas Carol Service specifically aimed at those with Dementia and those in Care homes was recorded at St Hugh’s Church and made available on the website. Services in Advent and on Christmas Eve and Christmas Day were well attended. Many services were livestreamed and were available afterwards through the website and on Facebook. Live streaming is enabling many more people to engage with our churches.

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The Parish of the Transfiguration - Little Bowden Annual report on the proceedings of the Parochial Church Council (PCC) and the activities of the parish for the year ending 31 December 2021

Occasional Offices were allowed with restrictions on the numbers attending.

Baptisms – 6 children and 2 adults were baptised at St Nicholas' Church Marriages – 7 at St Nicholas'

Funerals – 17 at St Nicholas', 3 at St Hugh’s

The clergy also conducted 19 funerals for parishioners at crematoria or the local cemetery and 5 committal only or burial of ashes.

Review of the year

The PCC met in January, March and May on Zoom but was able to meet in person (socially distanced) during July, September and November. The Annual Parochial Church meeting was held in April in St Hugh’s church and on Zoom. Extraordinary meetings of the PCC have been held on zoom to meet the demands of the changing COVID guidance and to consider proposals to obtain equipment to facilitate the streaming.

The PCC appointed a Health and Safety Officer who has made Risk Assessments for regular services, occasional services and all activities and events organised at the 4 buildings and in the open spaces around the churches and discussed with the wardens other aspects of Health and Safety. The Safeguarding Officer works with the other team Safeguarding Officers to ensure conformity across the team. The PCC has reviewed its Safeguarding policies and ensured that training was undertaken by all those who fill specific roles within the churches. The under 5’s group (Snugs) returned to St Nicholas in September and all leaders have been safely recruited and have had the necessary safeguarding training. Maintenance of the buildings has continued with repairs to the heating system at St Hugh and new guttering, plaster work and some repainting at St Nicholas. The PCC approved the purchase of equipment including telephone lines, broadband, camera, microphones and a laptop to facilitate the streaming of services, previously equipment was borrowed from the curate. Funds for this were raised by donations from the congregation and grants from local charities.

The PCC made a commitment to support the Sustainable Harborough Community and appointed Environmental Officers for each church. Both churches have been awarded a Bronze A Roche Environments Award and continue to work towards the Silver Award.

The PCC engaged with the Harborough Anglican Team’s Strategy paper for worship across the team whilst setting its own priorities for worship, discipleship and ministry within the Parish which were considered at a Vision Day in June attended by the clergy and lay congregations. The PCC set priorities from these discussions and arranged a meeting with a representative of the Inclusive Church movement. No decisions have been made but more information and discussion on the issues are to be arranged including the provision of a Living in Love and Faith course in the new year. On discipleship, a course using the film The Greatest Showman was well attended and future courses are proposed. Other priorities, such as being environmentally aware and producing a Welcome pack, are ongoing and have dedicated leaders and collaboration with other church teams to provide regular Messy Church activities began in the summer. Our work in the parish with children and families is growing with new families engaging regularly with SNUGS, Messy Church and Early Church. This creates opportunities to share faith and encourage discipleship with these families.

The importance of social media and the technology to stream services has become more apparent in the pandemic but the PCC has been unable to encourage members of the congregations to step forward to fully utilise this area to further its Christian ministry in the parish. Weekly newsletters from the Harborough Anglican Team and a regular Parish News and Monthly Prayer sheet are issued by email or post to those unable to access on-line information and personal contact is made by clergy and lay pastoral workers to ensure those in need of pastoral support and Christian ministry at life events receive support. A Christian ministry to all in the wider Market Harborough area is maintained as the clergy and retired ministers within the team contribute to the weekly Churches Column in the local newspaper Harborough Mail.

Financial review

The coronavirus pandemic continued to have an impact on income with the churches and halls only able to fully reopen during the second half of the year. However this was still better than the previous year. Total incoming resources for the year amounted to £108,376, of which £96,224 had no restrictions on them over how they were to be spent. Voluntary donations were up approximately 17% from last year at £81,259. Income generated from fundraising and the renting out of the Church halls was up approximately 17% at £20,109. Overall income was up approximately 19%, which includes £5,400 from grants and donations to provide new equipment for streaming services online from both churches.

4

The P•rlsh of the TrwfourAtlon- Llttie Bowden ADDU￿ report on the proceedings of the Parochi￿ Charcb Council (PCC) •nd the thltles of the prlsh for the year eDdthg 31 December 2021 FknAneil revltw (£oAtl•ued) Exp¢rdithte for the )E4r was £97.481. of ￿1th £42.IKK) mnti1￿ltiOD to the di(Kesan p￿]Sh 5batt, wbidl largely the engagement of ¢#retakers and otFer Chyrch work05 of £l1.898. utsiity bills of £7231. inSUT￿ of £6.445 Churth repaiys of£lO.207. RwAirs £3.084 Ytws to the syswi T￿1￿8 partial Terno￿1 of asbestos at Si Hugh's CIEurch WMI £3.036 plathr a￿1 a Tr•tiD8 pipe at St Nichol&4' CIM]rclL Overall expEndilute Vrn8 60h than in the preViTr￿ year. The net illcomin8 for the WTr4 I}Kr¢f￿ £10,895 •Thl unre41il losse5 of £126 on the 1nves1nxD￿ As 8 resulL Krt81 by £10.769 ts> t￿1 yer ￿ £380.852 01 wbich £279.706 (2020.. £267.638) fittmts whicll lllv¢ ￿tbe¢￿ for * wific purtx Ru¢rvu policy The PCC tEquiru 8amJ Te8¢T¥e4 tlwt is ate fffely availabk to SP￿ ￿ futthe￿ of its object& to provide The m¢mbws beli¢ve that the current level of such Te4UVt8 is sufficient the nea15 of the Pcf aTKi will This repxt VAS approved by the PCC on 23rd Matth 2022 aNI sig￿￿ on d*iTbel￿If br. li¢v'd A lliffe Mrs E Webb Mrs N MickehYait¢ Mr8 G DrÈvEr

Independent Examiner'$ Report to the Paroehial Chureh Counell of The Parish of the TrallSfigurxtiou- Little Boiyde I report to the Ch￿lty tTU5tees on iny exalnination ofthc aca)UDts of the charity for the year ended 31st December 2021 which are sct out on pagc$ 7 to 18. iie5PODsibi]itie5 and basis ofreport As the ch￿]￿$ trusttts. the me]nbers of the PCC are respo￿lble for the prq)ardtion of the accounts in aCContan￿ with the requirem¢nt5 of the Chariti£s Act 2011 (Ibe Act?. I report in respect of my exan)ination of the ¢lharity'S Carri￿ out under ￿tiOn 145 of the A¢t and in faryiDg out my examiDatiott I bave followed all the app]icable Directiots giYeD by tbe Charity Commission under section 145(5)(b) of the Act. Independent examiner's st8temeDt I have cornpleted llky cxarnination. I confm that no material matters have corne to my attention in collnection with tbe examiDatioll giNTrng cause to believe that in any material respect.. accoutlting Tecords were llot kept in r• of the cbarity required by 5￿tIOn 130 of the ACL or the accounts do not accord with th¢)5e rttor(ts,' or the accounts do not comply with the applicable requirements concerDing the form attd content of accoullts 5& out in the Charities (Accoullts and Rqxkrts) RegutatioDS 2008 other than ally requireffjent that the &coullts give a'true and fair vÈew' which is not a matter considered as part of an independent examinatiotL I have be dra cerns and have ¢ome a¢ross ty) other matters in ¢onntttion with the examination ¢0 whi¢h attention should to eTJable a pr(y¢r Underst￿l￿g of the accounts to be rexhe in Adrian A. tley B. . A.C. 23rd March 2022 For Edward Thornas Peirson & Sons Chartered Accountants 21, The Point RcKkittyam Road Market Harborougb Leic& LE16 7NU

The Parish of the Transfiguration - Little Bowden Statement of Financial Activities

For the Year Ended 31 December 2021

Note INCOME AND ENDOWMENTS FROM: Donations and legacies 2(a) Other trading activities 2(b) Investments 2(c) Church activities 2(d) Total income and endowments EXPENDITURE ON: Church activities 3 Raising funds Total expenditure Net income/(expenditure) before gains/(losses) on investments Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward

Total Total Unrestricted Restricted Endowment Funds Funds Funds Funds Funds 2021 2020 £ £ £ £ £ 69,158 12,101 - 81,259 69,280 20,109 - - 20,109 17,230 1,256 - 51 1,307 1,612 5,701 - - 5,701 2,946 96,224 12,101 51 108,376 91,068 82,320 15,090 51 97,461 91,668 20 - - 20 615 82,340 15,090 51 97,481 92,283 13,884 (2,989) - 10,895 (1,215) - - (126) (126) 53 13,884 (2,989) (126) 10,769 (1,162) - - - - - 13,884 (2,989) (126) 10,769 (1,162) 341,082 26,601 2,400 370,083 371,245 354,966 23,612 2,274 380,852 370,083

All income and expenditure derive from continuing activities.

Movements on reserves and all recognised gains and losses are shown above.

The notes on pages 9-18 form part of these accounts.

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The Pthsh of Ibe TraDsfigllrih)D. iA¢de Bowden Bal•nee Sheet as t 31 December 2021 2921 2020 Tfftnwble &ssets 188,771 l.774 185.346 190.545 187346 DebtotB Clshat b￿k 10 1.795 1g)J36 180.781 192.131 184.690 CURRENT LIABILITIES CT¢ditors.' A]nouThts f￿]1￿8 within ODe y 12 1.824 1.853 190.31TI 181837 ET ASSETS 380,852 370.083 13 Unrestrictcd fi￿d¥ General fiJod5 279.71NS 752 267.638 73.444 354,966 23.612 2374 341,082 26.601 TOTAL CIIARITY FUNDS 380.852 370.083 Mr Al8n Well& Trtasurer The llo￿ on page ￿18 foTm pan of Ihes¢ accounts.

The Parish of the Transfiguration - Little Bowden Notes to the Accounts

For the Year Ended 31 December 2021

1 Accounting Policies

• a) The PCC constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with 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 (FRS 102) issued in October 2019 "SORP (FRS 102)", the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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 (FRS 102) in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value, they are presented in sterling which is the functional currency of the PCC and rounded to the nearest £. 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

Endowment funds are funds, the capital of which must be retained permanently. The income derived from the endowment is to be used for the purposes of the St. Hugh's sanctuary.

Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific PCC activity intended by the donor and funds raised by the PCC for particular purposes. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on the average balance basis.

Unrestricted funds are general funds which may be used by the PCC in furtherance of its general objectives.

Designated funds are general funds set aside by the PCC for a specific purpose, they remain unrestricted and the PCC may move any surplus to other general funds.

c) Income recognition

Income is included in the Statement of Financial Activities where the PCC is legally entitled to the income, any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. If conditions are attached to a grant or donation and this requires a level of performance before entitlement can be obtained the recognition of the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the PCC and it is probable that they will be fulfilled. Tax refunds are recognised when the incoming resource to which they relate is recognised. Gifts in kind donated for the use of the PCC are recognised in income at their fair value, that being the value of the gift to the PCC, at the point they gain control over them, with an equivalent amount being recognised as a component of expenditure. Gifts in kind donated for resale are recognised when sold due to the impracticality of obtaining a fair value for them when donated, other trading income (including all other fundraising income) is recognised when entitlement has occurred.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

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The Parish of the Transfiguration - Little Bowden Notes to the Accounts

For the Year Ended 31 December 2021

d) Expenditure recognition

All expenditure is accounted for on an accruals basis and is recognised, gross of any amounts recoverable, where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably. As the PCC is not VAT registered the expenditure includes irrecoverable VAT.

e) Tangible fixed assets

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

Moveable church furnishings held by the vicar 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 may be inspected at any reasonable time. For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently individual items costing £1,000 or more have been capitalised. Depreciation on equipment is charged at 20% per annum on the straight line basis. Other individual items of equipment for use by the PCC with a purchase price of £1,000 or less are written off on purchase. Freehold buildings are depreciated at 1% per annum on the reducing balance basis.

f) Investments

Investments are recognised at fair value with changes in value recognised in 'net gains/(losses) on investments' in the Statement of Financial Activities.

g) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

h) Financial instruments

The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments, all of which are initially measured at transaction value and then subsequently at amortised cost with the exception of investments which are subsequently measured at fair value through the Statement of Financial Activities.

2 Income and Endowments from: a) Donations and legacies Planned giving: Gift Aid giving Tax recoverable Pledges Cash collections Special appeals Tax recoverable (appeals) Grants Legacies Donated goods and services Sundry donations	Total Total Unrestricted Restricted Endowment Funds Funds Funds Funds Funds 2021 2020 £ £ £ £ £ 46,338 - - 46,338 44,822 13,401 - - 13,401 11,965 4,049 - - 4,049 3,182 1,848 - - 1,848 1,415 - 4,505 - 4,505 982 - 954 - 954 232 - 2,900 - 2,900 500 - 2,500 - 2,500 5,000 - 1,242 - 1,242 - 3,522 - - 3,522 1,182 69,158 12,101 - 81,259 69,280

Income of £7,152 from donations and legacies in 2020 was restricted.

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The Parish of the Transfiguration - Little Bowden

Notes to the Accounts

For the Year Ended 31 December 2021

2 Income and Endowments from (continued): b) Other trading activities General fundraising Sale of Church furnishings Rents and lettings	Total Total Unrestricted Restricted Endowment Funds Funds Funds Funds Funds 2021 2020 £ £ £ £ £ 1,536 - - 1,536 401 - - - - 3,255 18,573 - - 18,573 13,574 20,109 - - 20,109 17,230

	20,109	20,109	-	-	20,109	17,230
	All income from other trading activities in 2020 was unrestricted.
c)	Investments
	Fixed interest securities	-	-	50	50	62
	Deposit account interest	1,252	-	1	1,253	1,549
	Other interest	4	-	-	4	1
		1,256	-	51	1,307	1,612
	Income of £65 from investments in 2020 was attributed to endowment funds.
d)	Church activities
	Fees	5,701	-	-	5,701	2,011
	Magazine sales and advertising	-	-	-	-	935
		5,701	-	-	5,701	2,946

All income from church activities in 2020 was unrestricted.

3 Expenditure on: Church activities Missionary and charitable giving: Relief and development Secular organisations Ministry Parish share Other ministry costs Service streaming costs Team office Caretakers and other Church workers Utilities Insurance Building and equipment repairs Reordering Magazine costs PPE and other Covid-19 related costs Depreciation Other Governance costs (note 4)

Total Total Unrestricted Restricted Endowment Funds Funds Funds Funds Funds 2021 2020 £ £ £ £ £ 1,617 1,641 - 3,258 1,711 1,368 - - 1,368 500 2,985 1,641 - 4,626 2,211 42,000 - - 42,000 42,000 6,658 1,318 51 8,027 7,068 319 401 - 720 - 1,099 - - 1,099 1,223 11,718 180 - 11,898 10,312 4,899 2,332 - 7,231 8,556 4,246 2,199 - 6,445 6,427 4,187 6,020 - 10,207 4,887 - - - - 2,364 - - - - 1,162 312 - - 312 1,355 2,172 999 - 3,171 1,872 645 - - 645 1,181 1,080 - - 1,080 1,050 82,320 15,090 51 97,461 91,668

Expenditure on church activities in 2020 included £10,200 attributable to restricted funds and £65 attributable to endowment funds.

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The Parish of the Transfiguration - Little Bowden Notes to the Accounts For the Year Ended 31 December 2021

3 Expenditure on (continued):

Parish share is the PCC's contribution towards Diocesan expenditure, which includes the employment and housing costs of the clergy.

4 Governance Costs Independent examiner's remuneration	Total Total Unrestricted Restricted Endowment Funds Funds Funds Funds Funds 2021 2020 £ £ £ £ £ 1,080 - - 1,080 1,050 1,080 - - 1,080 1,050

5 Independent Examiner's Remuneration

The independent examiner's remuneration consisted of an independent examination fee of £1,080 (2020: £1,050).

6 PCC Members' and Key Management Personnel Remuneration and Expenses

No members of the PCC received any remuneration or had any expenses reimbursed in their capacity as trustees during either this or the previous year. Some members did receive payments for other services provided to the PCC, all of which are detailed in note 16.

The PCC considers that it has no key management personnel other than the members of the PCC themselves.

7 Staff Costs

The PCC does not employ any members of staff.

8 Tangible Fixed Assets Cost or valuation At 1 January 2021 Additions Disposals At 31 December 2021 Accumulated depreciation At 1 January 2021 Charge for the year Written off on disposal At 31 December 2021 Net book value At 31 December 2021 At 1 January 2021	Office and Freehold Streaming Properties Equipment Total £ £ £ 231,898 4,121 236,019 - 6,597 6,597 - - - 231,898 10,718 242,616 46,552 4,121 50,673 1,853 1,319 3,172 - - - 48,405 5,440 53,845 183,493 5,278 188,771 185,346 - 185,346

The freehold properties comprise: St Hugh's Church Hall; St Nicholas' Church Hall and The Green, Little Bowden, Market Harborough. These properties were revalued at the replacement value estimated in 1993 for insurance purposes and this valuation was taken as deemed cost on transition to SORP (FRS 102) on 1 January 2015, all subsequent additions are at cost. The value of the underlying land is excluded, as are all beneficed properties.

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The Parish of the Transfiguration - Little Bowden

Notes to the Accounts

For the Year Ended 31 December 2021

	Notes to the Accounts For the Year Ended 31 December 2021
9	Fixed Asset Investments	2021	2020
		£	£
	Fair value at 1 January 2021	1,900	1,847
	Unrealised gains/(losses) on revaluation	(126)	53
	Fair value at 31 December 2021	1,774	1,900
	Investments consist of 1,120 shares in the CBF Church of England Fixed Interest Securities Fund. Fair value
	represents the mid-market price of said shares at the balance sheet date.
10	Debtors	2021	2020
		£	£
	Trade debtors:
	Fees receivable	-	316
	Sale of Church furnishings	-	100
	Rents and lettings receivable	780	1,058
	Other debtors:
	Tax recoverable	1,015	2,435
		1,795	3,909
11	Cash at Bank and in Hand	2021	2020
		£	£
	Bank operating accounts	51,214	40,400
	Building Society accounts	125,050	126,315
	CBF Church of England deposit accounts	14,072	14,066
		190,336	180,781
12	Creditors: Amounts falling due within one year	2021	2020
		£	£
	Accruals and deferred income:
	Service streaming costs	46	-
	Utilities	444	620
	Independent examination fee	1,080	1,050
		1,570	1,670
	Other creditors and accruals	254	183
		1,824	1,853

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The Parish of the Transfiguration - Little Bowden

Notes to the Accounts For the Year Ended 31 December 2021

13 Movement of Funds Restricted Funds St Hugh's Church fabric St Nicholas' choir St Nicholas' organ St Nicholas' guttering and drainage St Nicholas' legacy Streaming Project Specific causes Endowment Funds St Hugh's Sanctuary Unrestricted Funds (Designated) St Nicholas' Church fabric St Nicholas' Church Hall St Nicholas' events St Hugh's Church Hall Unrestricted Funds (General) General Fund St Hugh's Clubroom Unrestricted Funds (Total) TOTAL FUNDS	Balances at Incoming Resources 1 Jan 2021 Resources Expended £ £ £ 223 1,242 (1,465) 450 - - 1,329 - (59) 3,245 - (3,245) 21,354 2,500 (5,962) - 5,400 (1,400) - 2,959 (2,959) - 1,270 - - - - - 4,000 - 17,892 - 450 - - Transfers & Balances at Revaluations 31 Dec 2021 £ £
	26,601 12,101 (15,090) - 23,612
	2,400 51 (51) (126) 2,274
	5,438 - - 50,138 13,542 (9,486) 5,565 1,048 (517) 12,303 4,746 (5,771) - 54,194 50 11,328 (1,796) 4,300 - 5,438
	73,444 19,336 (15,774) (1,746) 75,260
	235,010 76,888 (66,566) 32,628 - - 1,746 247,078 - 32,628
	267,638 76,888 (66,566) 1,746 279,706
	341,082 96,224 (82,340) - 354,966
	370,083 108,376 (97,481) (126) 380,852

Restricted Funds are funds that can only be expended on the restricted purposes intended by the donor. Material restricted funds are as follows:

St Hugh's Church fabric fund is restricted to the repairs and maintenance of the internal fabric of St Hugh's church.

St Nicholas' organ fund is restricted to the repairs and maintenance of the organ at St Nicholas' church.

St Nicholas' guttering and drainage fund is restricted to the repair and replacement of the guttering and drainpipes at St Nicholas' church.

St Nicholas' legacy fund is restricted for the benefit of St Nicholas' church.

The Streaming Project fund is restricted to costs associated with the online streaming of church services.

Endowment Funds are funds for which the capital must be retained permanently. Material endowment funds are as follows:

St Hugh's Sanctuary fund consists of a permanent endowment, the capital of which must not be spent and from which any income generated may only be spent in connection with St Hugh's Sanctuary.

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The Parish of the Transfiguration - Little Bowden Notes to the Accounts

For the Year Ended 31 December 2021

13 Movement of Funds (continued)

Designated Funds are unrestricted funds that the PCC have set aside for a specific purpose. Material designated funds are as follows:

St Nicholas' Church fabric fund is designated to the repairs and maintenance of the internal fabric of St Nicholas' church.

St Hugh's and St Nicholas' church hall funds are designated to meet any expenditure required relating specifically to the church hall of each church respectively.

St Nicholas' events fund represents funds from fundraising events held by the St Nicholas' events committee, they are designated to be used to cover any costs of future events with any excess designated for donation to external sources at the committee's discretion.

Unrestricted funds are general funds to be used towards the objectives of the PCC at the members discretion.

The movements in funds for the previous financial year were as follows:

Restricted Funds St Hugh's Church fabric St Nicholas' choir St Nicholas' organ St Nicholas' guttering and drainage St Nicholas' legacy Streaming Project Specific causes Endowment Funds St Hugh's Sanctuary Unrestricted Funds (Designated) St Nicholas' Church Fabric St Nicholas' Church Hall St Nicholas' events St Hugh's Church Hall Unrestricted Funds (General) General Fund St Hugh's Clubroom Unrestricted Funds (Total) TOTAL FUNDS	Balances at Incoming Resources 1 Jan 2020 Resources Expended £ £ £ - 438 (215) 450 - - 1,329 - - 5,400 - (2,155) 22,470 5,000 (6,116) - - - - 1,714 (1,714) - 21,354 - - - - - 1,329 - 3,245 - 450 - 223 Transfers & Balances at Revaluations 31 Dec 2020 £ £
	29,649 7,152 (10,200) - 26,601
	2,347 65 (65) 53 2,400
	5,438 - - 50,422 9,513 (9,797) 5,310 255 - 12,720 3,749 (4,231) 65 12,303 - 50,138 - 5,565 - 5,438
	73,890 13,517 (14,028) 65 73,444
	232,731 70,334 (67,990) 32,628 - - (65) 235,010 - 32,628
	265,359 70,334 (67,990) (65) 267,638
	339,249 83,851 (82,018) - 341,082
	371,245 91,068 (92,283) 53 370,083

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The Parish of the Transfiguration - Little Bowden Notes to the Accounts

For the Year Ended 31 December 2021

14 Analysis of Net Assets between Funds Tangible fixed assets Fixed asset investments Bank balances Debtors Creditors	Restricted General Designated Funds Funds Funds £ £ £ 4,000 184,771 - - - - 19,685 95,502 74,649 - 1,015 780 (73) (1,582) (169) - 1,795 - (1,824) - 188,771 500 190,336 1,774 1,774 £ £ Funds Funds Endowment Total
	23,612 279,706 75,260 2,274 380,852

The analysis of net assets between funds for the previous financial year was as follows:

Tangible fixed assets Fixed asset investments Bank balances Debtors Creditors	Restricted General Designated Funds Funds Funds £ £ £ - 185,346 - - - - 26,567 81,328 72,386 129 2,722 1,058 (95) (1,758) - - (1,853) 1,900 1,900 500 180,781 - 3,909 Endowment Total Funds Funds £ £ - 185,346
	26,601 267,638 73,444 2,400 370,083

15 Commitments not included in the accounts

At the balance sheet date the PCC had entered into a contract for the provision of broadband services for which the minimum value of future payments committed to was £1,294 (2020: £Nil). There are no other binding financial commitments that were not provided for in these financial statements, however, with the discovery of asbestos at St Hugh's Church in 2019 and associated concerns about the sustainability of the current heating system, options are being explored which could incur costs in excess of £50,000 (2020: £50,000).

16 Related party transactions

Members of the PCC and parties related to them made donations of £20,339 (2020: £17,194) without any conditions attached during the year.

Mr R Dunton, the husband of one of the members of the PCC, is the chairman of the Howard Watson Symingtom Memorial Charity (HWSMC). The PCC applied for and received a grant of £1,100 (2020: £Nil) from HWSMC towards the purchase of equipment and ongoing costs associated with the online streaming of church services.

Rev'd R Leveritt and Mrs E Bangerter, both members of the PCC, were given gifts costing £404 (2020: £Nil) and £13 (2020: £Nil) respectively, the first to congratulate Rev'd Leveritt on his ordination and the latter in recognition of Mrs Bangater's pastoral work in the community.

Mr S Driver, the husband of one of the members of the PCC, was engaged as a caretaker of St Hugh's Church Hall on a self employed basis for which he received £3,240 (2020: £810) during the year.

Mr D Iliffe, the adult son of one of the members of the PCC, has been engaged to play the organ at specific services at St Hugh's Church, the total payable to him for this amounted to £180 (2020: £210) and at 31 December 2021 an outstanding balance of £30 (2020: £Nil) was owed to him.

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The Parish of the Transfiguration - Little Bowden Notes to the Accounts

For the Year Ended 31 December 2021

16 Related party transactions (continued)

During the previous year, Mrs E Webb and Ms E Wallace, both members of the PCC, purchased some of the furnishings being sold by the Church for a total consideration of £325 and at 31 December 2020 there was a balance of £100 left outstanding. The purchases were made for the same amounts and on the same terms as those available for the general public.

Also during the previous year, Mrs S White, also a member of the PCC up to 18 October 2020, received an honorarium of £100 for providing laundry services to St Nicholas' Hall.

17 Financial Instruments

The carrying amounts of the PCC's financial instruments are as follows:

Financial assets Measured at fair value through net income/expenditure: Fixed asset investments (note 9)	2021 2020 £ £ 1,774 1,900 1,774 1,900

The change in fair value of the PCC's fixed asset investments is fully attributable to changes in market conditions.

Measured at amortised cost: Trade debtors (note 10) Other debtors (note 10) Cash at bank and in hand (note 11) Financial Liabilities Measured at amortised cost: Accruals (note 12) Other creditors (note 12)	2021 2020 £ £ 780 1,474 1,015 2,435 190,336 180,781 192,131 184,690 2021 2020 £ £ 1,570 1,670 254 183 1,824 1,853

The income, expenses, net gains and net losses attributable to the PCC's financial instruments are summarised as follows:

follows:
	2021	2020
Income and expense	£	£
Financial assets measured at fair value through net income/expenditure	50	62
Financial assets measured at amortised cost	1,257	1,550
Net gains and losses (including changes in fair value)
Financial assets measured at fair value through net income/expenditure	(126)	53

The total interest income and interest expense for financial assets and financial liabilities that are not measured at fair value was £1,257 (2020: £1,550) and £Nil (2020: £Nil) respectively.

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The Parish of the Transfiguration - Little Bowden Notes to the Accounts For the Year Ended 31 December 2021

18 Funds received as agent

The PCC acts as an agent for the Diocesan Board of Finance (DBF) and certain other individuals in collecting parochial and other fees received on their behalves. Total fees collected in the year amounted to £7,786 (2020: £3,290) and at 31 December 2021 the PCC held a balance of £224 (2020: £Nil) that was still to be paid over. Monies collected and paid out as agent are not included in the statement of financial activities.

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