# **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. 2 ## **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. 3 ## **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 p*rlsh for the year eDdthg 31 December 2021 FknAnei*l 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 unre41i*l losse5 of £126 on the 1nves1nxD￿ As 8 resulL Krt81 by £10.769 ts> t￿1 ye*r ￿ £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. 7 The Pthsh of Ibe TraDsfigllr*ih)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). 9 ## **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. 10 ## **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. 11 ## **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. 12 ## **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| 13 ## **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. 14 ## **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| 15 ## **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. 16 ## **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. 17 ## **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. 18