## **St Mary's Moseley. 2020 Accounts** ## **Statement of Financial Activities** |**Note**
**Income and Endowments from:**
**Donations**
2
**Charitable activities**
2
**Other trading activities**
2
**Investments**
2
**Total**
**Expenditure on:**
**Raising funds**
3
**Charitable activities**
3
**Total**
**Net income/(expenditure) before**
**investment gains**
**Net gains on investments**
5
**Net income**
**Transfers between funds**
8
**Net movement in funds**
**Total funds at 1st January**
**Total funds at 31st December**
8|**Unrestricted**
**Unrestricted**
**General**
**Designated**
**Restricted Endowment**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
2019
**£**
**£**
**£**
**£**
**£**
£
78,606 - - -**78,606**75,709
59 - 76,771
-**76,830**8,087
23,051---**23,051**24,794
95,276
-
-**95,276**116,268
196,991
- 76,771
-**273,762**224,858
- ---**-**
-
264,278
723
-**265,001**263,522
264,278
- 723
-**265,001**263,522
(67,286)
- 76,048
-**8,762**(38,664)
- 65,332
--**65,332**186,964
(67,286) 65,332 76,048
-**74,093**148,299
47,756 (47,756)
- -**-**
-
(19,531) 17,576 76,048 -**74,093**148,299
130,741 2,388,088 11,705 -
**2,530,533**2,382,235
**111,211 2,405,664 87,753 - 2,604,627**2,530,534
-
-
-
-
-
0
**TOTAL FUNDS**| |---|---| Page 1 of 8 ## **St Mary's Moseley. 2020 Accounts** ## **Balance Sheet at 31st December 2020** |**Note**
**Fixed Assets:**
Tangible - Investment
4
Tangible - Operational
4
IT
Investments
5
**Current Assets:**
Debtors
6
Short term deposits
Cash at bank and in hand
**Current Liabilities**
Creditors
7
**Net Current Assets**
**Total Net Assets**
**Represented by parish funds:**
8
Unrestricted – general
Unrestricted – designated
Restricted
Endowment|**2020**
2019
**£**
£
**720,000**720,000
**80,000**80,000
**0**0
**1,707,515**1,702,183
**2,507,515**2,502,184
**54,085**32,128
**30**30
**110,120**30,207
**164,236**62,365
**67,124**34,015
**97,111**28,350
**2,604,627**2,530,533
**111,211**130,741
**2,405,664**2,388,088
**87,753**11,705
**-**-
**2,604,627**2,530,533
(0)
0| |---|---| The notes of pages 4 to 9 form part of these financial statements. The financial statements were approved by the PCC on 8th Febraury 2020 and signed on its behalf by: **The Revd Duncan Strathie Vicar of Moseley** Page 2 of 8 ## **1. Principal Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS102. The financial statements have been prepared under the historical cost convention except for investment assets, which are included at fair valuation. 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. Following transition to FRS102 for the first time, all the accounting policies have been aligned with the new accounting standard and where these have resulted in a material change to the amounts, classification or presentation within the financial statements as at the date of transition then a transitional adjustment has been made. The principal accounting policies and estimation techniques are as follows: ## **Funds** Funds over which the PCC’s control is limited by statue or the terms of a trust deed, or which are restricted in their use have been defined as “restricted funds”. Funds which are controlled by the PCC and over which there are essentially no restrictions as to their use have been defined as “unrestricted funds”. Designated funds are unrestricted funds that have been set aside by the PCC for purposes designated by PCC policy. Such designations may be set aside from time to time according to policy decisions. _Endowment Funds_ are funds, the capital of which must be retained either permanently or at the PCC’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. _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. _Unrestricted Funds_ are income funds which are to be spent on the PCC’s general purposes. _Designated funds_ are general funds set aside by the PCC for use in the future. Designated funds remain unrestricted and the PCC will move any surplus to other general funds. ## **Income** All income is included in the Statement of Financial Activities when the PCC is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognized can be quantified with reasonable accuracy. Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the income to which they relate is received. Grants received which are subject to pre conditions for entitlements or use specified by the donor which have not been met at the yearend are included in creditors to be carried forward to the following year. Dividends and rents are accounted for when declared receivable, interest as and when accrued by the payer. All income is accounted for gross. ## **Expenditure** Liabilities are recognized as soon as there is a legal or constructive obligation committing the PCC to pay out resources. Expenditure is included on an accruals basis under the following headings; all costs are allocated under a specific category: _Costs of raising funds_ These are the costs associated with the PCC’s fundraising activities. _Charitable expenditure_ Page 3 of 8 Charitable expenditure is analysed between ministry and mission expenditure. Ministry expenditure includes the direct costs of running the church such as the diocesan parish share, church building and service costs. The diocesan parish share expected to be paid over is accounted for when due. Mission expenditure includes mission giving and donations, outreach in the community activities, children's work cost and associated staff costs. Support costs consist of central management, administration and governance. These are costs which are directly attributable to a specific charitable activity. Grants and donations are accounted for when paid over or when awarded. Expenditure is accounted for gross. ## **Tangible fixed assets and depreciation** Movable 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 can be inspected (at any reasonable time). There is insufficient cost information available and therefore such assets are not valued in the financial statements. So all such expenditure has been written off when incurred. The properties the PCC owns comprise of 25, 25A, 25B, 27, 29 & 31, 31A & 31B St Mary's Row. During 2015 in line with the revised Charities accounting requirements (FRS 102) properties have been split Investment and Operation on the Balance Sheet. Investment Properties were revalued by Fishers Property & Lettings Management in September 2015. This valuation is reflected in the Balance Sheet. Operational Properties were not revalued so a high level estimate has been included. Depreciation is not provided on these properties as any provision (annual or cumulative) would not be material, due to the very long expected remaining useful life and because it’s expected residual value is not materially less than its carrying value. The PCC has a policy of regular structural inspection, repair and maintenance and the property is unlikely to deteriorate or suffer from obsolesce. Equipment used within the church premises is depreciated on a straight-line basis over four years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. There are no such assets at this time. ## **Financial instruments** The PCC has elected to apply the provision of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments” of FRS102 in full to all of its financial instruments. Debtors which are receivable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Debtors are subsequently measure at amortised cost being the transaction price less any amounts settled and any impairment losses. Creditor’s payable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Creditors are subsequently measure at amortised cost being the transaction price less any amounts settled. Page 4 of 8 |**2. Income**
**Donations**
Free Will Offering (Inc Gift Aid)
Legacies
Donations
**Charitable Activities**
Churchyard Project
Christmas Day Together
Childrens' Fund
Music
Urban Fund
Pew Bibles
Organ
Social & Fundraising Events
**Other Trading Activities**
Recharge to St Annes
Lettings
Other Income
Fees for weddings and funerals
less: expenses
**Investments**
Bank interest & dividends
Property rentals
less: expenses
Solar Panels' Generation
**Total Income**
**3. Expenditure**
**Expenditure on Fundraising:**
**Charitable Expenditure:**
**_Resourcing Ministry_**
Clergy Expenses
Associate Vicar Stipend
Church Buildings - See Note 12
Church Yard
Music and Choir
Organ
Altar items
Flower Guild
Other Church Activities
Pew Bibles
Common Fund to Diocese
Support for resourcing ministry
**_Resourcing Mission_**
Christmas Day Together
Urban Fund
Children's Work
Charitable Giving
Support for resourcing ministry
**Total Expenditure**
**Analysis of Support Costs**
Parish Office
Other Costs|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
53,564 - 53,564
24,674 - 24,674
368 - 368
**78,606**
**- 78,606**
- - -
- 310 310
- - -
- 500
500
- - -
- - -
- 75,961 75,961
59 - 59
**59 76,771 76,830**
13,735 - 13,735
300 - 300
5,304
- 5,304
5,578 - 5,578
(1,865)
- (1,865)
**23,051**
**- 23,051**
57,496 - 57,496
50,302 - 50,302
(16,069) - (16,069)
3,546 - 3,546
**95,276**
**- 95,276**
**196,991 76,771**
**273,762**
0
**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
0
0
0
8,696 - 8,696
- - -
57,322 - 57,322
6,772 - 6,772
8,402 500 8,902
888 - 888
- - -
800 - 800
864 - 864
- - -
125,510 - 125,510
29,402
- 29,402
**238,656 500**
**239,156**
- 223 223
- - -
18,208 - 18,208
4,148 - 4,148
3,267
- 3,267
**25,622 223 25,845**
**264,278 723**
**265,001**
**Unrestricted**
**Restricted**
**TOTAL**
**General**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
31,585 - 31,585
1,084 - 1,084
**32,669**
**- 32,669**
0
0
0|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2019**
**£**
**£**
**£**
74,319 - 74,319
500 - 500
890 - 890
**75,709**
**- 75,709**
- -
-
- 1,231 1,231
- -
-
- 500 500
- -
-
- -
-
- -
-
6,356 - 6,356
**6,356 1,731 8,087**
15,285 - 15,285
1,635 - 1,635
5,817
- 5,817
4,222 - 4,222
(2,165)
- (2,165)
**24,794**
**- 24,794**
60,510 - 60,510
58,160 - 58,160
(6,176) - (6,176)
3,774 - 3,774
**116,268**
**- 116,268**
**223,127 1,731**
**224,858**
0
**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2019**
**£**
**£**
**£**
0
0
0
9,123 - 9,123
- -
-
49,411 - 49,411
700 - 700
10,461 500 10,961
1,214 - 1,214
437 - 437
800 - 800
3,805 - 3,805
- -
-
119,591 - 119,591
34,839
- 34,839
**230,381 500**
**230,881**
- 1,763 1,763
- -
-
17,693 - 17,693
9,314 - 9,314
3,871
- 3,871
**30,878 1,763 32,641**
**261,259 2,263**
**263,522**
**Unrestricted**
**Restricted**
**TOTAL**
**General**
**Funds**
**Funds**
**2019**
**£**
**£**
**£**
32,499 - 32,499
6,210 - 6,210
**38,709**
**- 38,709**
0
0
0| |---|---|---| Page 5 of 8 |**4. Tangible Fixed Assets**|**Investment**
**Properties**|**Operational**
**Properties**|**IT Equipment**|**Total**|||| |---|---|---|---|---|---|---|---| |**Cost/valuation**|**£**|**£**|**£**|**£**|||| |At 1 January 2020|720,000|80,000|2,578|**802,578**|||| |Additions|-|-|-|**-**|||| |Disposals|-|-|-|**-**|||| |**At 31 December 2020**|**720,000**|**80,000**|**2,578**|**802,578**|||| |**Accumulated depreciation**|||||||| |At 1 January 2020|-
|-|2,578|**2,578**|||| |Charge for the year|-|-||**-**|||| |Disposals|-|-|-|**-**|||| |**At 31 December 2020**|**-**|**-**|**2,578**|**2,578**|||| |**Net book value**|||||||| |**At 31 December 2020**|**720,000**|**80,000**|
**-**|**800,000**|||| |At 31 December 2019|**720,000**|**80,000**|
**-**|**800,000**|||| |These properties comprise of 25, 25A, 25B,|27, 29 & 31, 31A & 31B St Mary's Row.||These properties|include a combination|of residential,||| |commercial and church used buildings. The properties were last revalued in 2015.|||||||| |**5. Investments**
CCLA Property Fund|**As at 1**
**January 2020**
**£**
**414,301**|**Purchases**
**£**
0|**Disposals**
**£**
0|**Change in market**
**value**
**£**
(20,581)|**As at 31**
**December**
**2020**
**£**
**393,721**||| |CCLA Investment Fund|**1,287,882**|0|(60,000)|85,912|**1,313,794**||| ||**1,702,183**|0|(60,000)|65,332|**1,707,515**||| |**6. Debtors and Prepayments**|-||||-||| |**Receivable within one year:**|**2020**|2019|||||| |Gift Aid Recoverable|**£**
41,718|£
24,025|||||| |St Anne's PCC|2,734|2,529|||||| |British Gas Feed In Tarif|3,546|0|||||| |Rent|1,417|4,025|||||| |Prepayments|4,670|1,449|||||| |Other Debtors|0|100|||||| ||**54,085**|**32,128**|||||| |**7. Creditors and Deferred Income**|0|0|||||| |**Amounts falling due within one year:**|**2020**|2019|||||| |Utilities|**£**
40,508|£
23,000|||||| |Charitable Giving|0|8,000|||||| |Salaries|5,050|0|||||| |St Anne's PCC|100|500|||||| |Common Fund / Curate Rent|9,670|0|||||| |Rental Costs|2,655|0|||||| |Deferred Rent|6,568|0|||||| |Other Creditors|2,574|2,515|||||| ||**67,124**|**34,015**|||||| |**8. Movements in Funds**
**Endowment Funds**|0
**01-Jan-20**
**£**
0
0
0|0
**Income**
**£**
0
0
0|**Expenditure**
**£**
0
0
0|**Capital**
**movements**
**£**
0
0
0|**Transfers**
**£**
0
0
0|**31-Dec-20**
**£**
**0**
**0**
**0**|| ||0|0|0|0|0|**0**|0| |**Restricted Funds**|||||||| |Churchyard Fund|0|0|0|0|0|**0**|| |Bell Fund|2,000|0|0|0|0|**2,000**|| |Fabric Fund|4,328|0|0|0|0|**4,328**|| |Christmas Day Together Fund|3,135|310|(223)|0|0|**3,222**|| |Childrens Fund|2,035|0|0|0|0|**2,035**|| |Pew Bibles|206|0|0|0|0|**206**|| |Music Fund|0|500|(500)|0|0|**0**|| |Organ Fund|0|75,961|0|0|0|**75,961**|| ||11,705|76,771|(723)|0|0|**87,753**|0| Page 6 of 8 |**Designated Funds**
St Mary's Row Properties
IT Equipment
Investment Growth Fund
Agreed Improvements Fund
Staffing Developments Fund
Vision 13 Fund
Premises Fund
Contingency Fund
**Unrestricted funds**
General
**Total Funds**|800,000
0
0
0
0
**800,000**
0
0
0
0
0
**0**
(0)
0
0
65,332
(65,332)
**(0)**
48,087
0
0
0
(6,060)
**42,027**
400,000
0
0
0
0
**400,000**
1,000,000
0
0
0
(1,364)
**998,636**
40,000
0
0
0
0
**40,000**
100,000
0
0
0
25,000
**125,000**
2,388,088
0
0
65,332
(47,756)
**2,405,664**
0
130,741
214,925
(282,211)
0
47,756
**111,211**
0
130,741
214,925
(282,211)
0
47,756
**111,211**
**2,530,533**
**291,696**
**(282,934)**
**65,332**
**0**
**2,604,627**| |---|---| **Churchyard Fund** . Church Yard Heritage project income funded by the National Lottery Heritage Fund. **Bell Fund** . During 2015 a restricted £2,000 donation was received toward the ongoing upkeep of the bells from the Trust. **Fabric Fund.** This fund resulted from an appeal and is restricted for re-ordering of the Nave Altar and Chancel. **Christmas Day Together Fund** . This annual event has a specific fund for its income and expenditure. **Children's & Youth Fund** . During 2017 the trustees of the Ballance Trust provided £2,035 toward Children and Youth work **Pew Bibles** . During 2016 the trustees of the Ballance Trust provided £2,000 for the purchase of Pew Bibles. **Music Fund** . This is made up of donations towards the provision of music at the church by the Friends of St. Mary's Music and Choirs. **St Mary's Row Properties.** See Note 4. **Investment Growth Fund.** Assumed on investments. This is significantly less that recent returns but returns can be volatile. **Agreed Improvements Fund. S** ufficient funding to provide for the remaining Church Yard Project, altar frontals and £20,050 bequest received in 2018 **Staffing Developments Fund** . To provide medium/long term funding for staff salaries once or if funding from investments reduces e.g. by reordering the church **Vision 13 Fund.** Reserve £1m to fund Vision 13 costs **Premises Fund.** Provide funds for improvements to the church and other PCC premises **Contingency Fund.** Hold in reserves the equivalent of approximately 6 months general running costs for unforeseen events. **General Fund.** Provide a general reserve to provide deterioration in finance, one off costs and cash flow ## **8a. Fund Transfers** The following highlights transfers between funds and there reason |**Redistribution of Investment Growth**
**Other Changes**
Tangible fixed assets
Investments
Debtors due within one year
Debtors due outside one year
Short term deposits
Cash at bank
Creditors due within one year
Creditors due outside one year
**9. Analysis of Net Assets by Fund**|**General Fund**
**Investment Fund**
**Other Funds**
check
Top up of General Fund
31,710
(31,710)
0
-
Top up of Premises Fund
(8,622)
8,622
-
Top up Contingency to 6 months
(25,000)
25,000
-
Fund Church Yard Project costs
6,060
(6,060)
-
Fund Quinquennial works
8,622
(8,622)
-
Fund Reordering costs
1,364
(1,364)
-
**Total**
**47,756**
**(65,332)**
**17,576**
-
-
-
**Total**
Total
**2020**
2019
**£**
**£**
**£**
**£**
**£**
£
0
800,000
0
0
**800,000**
800,965
0
101,852
1,605,663
0
0
**1,707,515**
1,515,255
0
54,085
0
0
0
**54,085**
29,210
0
0
0
0
0
**0**
0
30
0
0
0
**30**
30
0
22,368
0
87,753
0
**110,120**
54,840
0
(67,124)
0
0
0
**(67,124)**
(18,065)
(0)
0
0
0
0
**0**
0
**111,211**
**2,405,663**
**87,753**
**0**
**2,604,627**
2,382,235
-
0
-
-
-
0
-
**Restricted**
**Fund**
**Endowment Fund**
**Unrestricted**
**General Fund**
**Unrestricted**
**Designated**
**Fund**| |---|---| ## **10. Related Party Transactions** The PCC has 4 related charities for which some PCC Trustees are also Trustees. The following cash transactions and closing balances are included in the accounts:- |**Related Party**
St. Annes PCC, Moseley
The Friends of St Mary's Choirs & Music
Organ Renovation Fund
Flower Guild
**Total**|**Cash In**
**Cash Out**
**Owed**
**Owing**
**£**
**£**
**£**
**£**
13,529
(562)
2,735
100
500
0
0
0
25,982
0
0
0
0
0
0
800
**40,011**
**(562)**
**2,735**
**900**| |---|---| No member of the PCC was paid during the year. A small immaterial portion of the expenses paid to the incumbent may have related to his service as chairman of the PCC. Some immaterial reimbursements for general church activities were paid to some PCC members or persons closely connected to them. Page 7 of 8 |**11. Staff costs**
Wages and salaries
Social security costs
Pension contributions|**2020**
2019
**£**
£
**61,047**
57,525
0
1,672
**684**
461
**61,731**
59,657| |---|---| During the year the PCC employed a Director of Music, Site Services Manager, a Benefice Support Manager (job share) and Intergenerational Ministry Coordinator. In line with legislative requirements the PCC introduced a Workplace Pension Scheme from September 2016. The Diocese was able to use the PCCs employment allowance in 2020 to claim all the employers National Insurance costs back |**12. Church Buildings**
Utilities
Insurance
Building Works, Repairs & Cleaning|**2020**
2019
**£**
£
**18,399**
16,352
**10,484**
10,302
**28,439**
22,756
**57,322**
49,411| |---|---| 0 2020 Includes £9,986 Quinquennial and Reordering costs Page 8 of 8 ## **St Mary's Moseley. 2020 Accounts** ## **Statement of Financial Activities** |**Note**
**Income and Endowments from:**
**Donations**
2
**Charitable activities**
2
**Other trading activities**
2
**Investments**
2
**Total**
**Expenditure on:**
**Raising funds**
3
**Charitable activities**
3
**Total**
**Net income/(expenditure) before**
**investment gains**
**Net gains on investments**
5
**Net income**
**Transfers between funds**
8
**Net movement in funds**
**Total funds at 1st January**
**Total funds at 31st December**
8|**Unrestricted**
**Unrestricted**
**General**
**Designated**
**Restricted Endowment**
**Funds**
**Funds**
**Funds**
**Funds**
**2020**
2019
**£**
**£**
**£**
**£**
**£**
£
78,606 - - -**78,606**75,709
59 - 76,771
-**76,830**8,087
23,051---**23,051**24,794
95,276
-
-**95,276**116,268
196,991
- 76,771
-**273,762**224,858
- ---**-**
-
264,278
723
-**265,001**263,522
264,278
- 723
-**265,001**263,522
(67,286)
- 76,048
-**8,762**(38,664)
- 65,332
--**65,332**186,964
(67,286) 65,332 76,048
-**74,093**148,299
47,756 (47,756)
- -**-**
-
(19,531) 17,576 76,048 -**74,093**148,299
130,741 2,388,088 11,705 -
**2,530,533**2,382,235
**111,211 2,405,664 87,753 - 2,604,627**2,530,534
-
-
-
-
-
0
**TOTAL FUNDS**| |---|---| Page 1 of 8 ## **St Mary's Moseley. 2020 Accounts** ## **Balance Sheet at 31st December 2020** |**Note**
**Fixed Assets:**
Tangible - Investment
4
Tangible - Operational
4
IT
Investments
5
**Current Assets:**
Debtors
6
Short term deposits
Cash at bank and in hand
**Current Liabilities**
Creditors
7
**Net Current Assets**
**Total Net Assets**
**Represented by parish funds:**
8
Unrestricted – general
Unrestricted – designated
Restricted
Endowment|**2020**
2019
**£**
£
**720,000**720,000
**80,000**80,000
**0**0
**1,707,515**1,702,183
**2,507,515**2,502,184
**54,085**32,128
**30**30
**110,120**30,207
**164,236**62,365
**67,124**34,015
**97,111**28,350
**2,604,627**2,530,533
**111,211**130,741
**2,405,664**2,388,088
**87,753**11,705
**-**-
**2,604,627**2,530,533
(0)
0| |---|---| The notes of pages 4 to 9 form part of these financial statements. The financial statements were approved by the PCC on 8th Febraury 2020 and signed on its behalf by: **The Revd Duncan Strathie Vicar of Moseley** Page 2 of 8 ## **1. Principal Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS102. The financial statements have been prepared under the historical cost convention except for investment assets, which are included at fair valuation. 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. Following transition to FRS102 for the first time, all the accounting policies have been aligned with the new accounting standard and where these have resulted in a material change to the amounts, classification or presentation within the financial statements as at the date of transition then a transitional adjustment has been made. The principal accounting policies and estimation techniques are as follows: ## **Funds** Funds over which the PCC’s control is limited by statue or the terms of a trust deed, or which are restricted in their use have been defined as “restricted funds”. Funds which are controlled by the PCC and over which there are essentially no restrictions as to their use have been defined as “unrestricted funds”. Designated funds are unrestricted funds that have been set aside by the PCC for purposes designated by PCC policy. Such designations may be set aside from time to time according to policy decisions. _Endowment Funds_ are funds, the capital of which must be retained either permanently or at the PCC’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. _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. _Unrestricted Funds_ are income funds which are to be spent on the PCC’s general purposes. _Designated funds_ are general funds set aside by the PCC for use in the future. Designated funds remain unrestricted and the PCC will move any surplus to other general funds. ## **Income** All income is included in the Statement of Financial Activities when the PCC is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognized can be quantified with reasonable accuracy. Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the income to which they relate is received. Grants received which are subject to pre conditions for entitlements or use specified by the donor which have not been met at the yearend are included in creditors to be carried forward to the following year. Dividends and rents are accounted for when declared receivable, interest as and when accrued by the payer. All income is accounted for gross. ## **Expenditure** Liabilities are recognized as soon as there is a legal or constructive obligation committing the PCC to pay out resources. Expenditure is included on an accruals basis under the following headings; all costs are allocated under a specific category: _Costs of raising funds_ These are the costs associated with the PCC’s fundraising activities. _Charitable expenditure_ Page 3 of 8 Charitable expenditure is analysed between ministry and mission expenditure. Ministry expenditure includes the direct costs of running the church such as the diocesan parish share, church building and service costs. The diocesan parish share expected to be paid over is accounted for when due. Mission expenditure includes mission giving and donations, outreach in the community activities, children's work cost and associated staff costs. Support costs consist of central management, administration and governance. These are costs which are directly attributable to a specific charitable activity. Grants and donations are accounted for when paid over or when awarded. Expenditure is accounted for gross. ## **Tangible fixed assets and depreciation** Movable 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 can be inspected (at any reasonable time). There is insufficient cost information available and therefore such assets are not valued in the financial statements. So all such expenditure has been written off when incurred. The properties the PCC owns comprise of 25, 25A, 25B, 27, 29 & 31, 31A & 31B St Mary's Row. During 2015 in line with the revised Charities accounting requirements (FRS 102) properties have been split Investment and Operation on the Balance Sheet. Investment Properties were revalued by Fishers Property & Lettings Management in September 2015. This valuation is reflected in the Balance Sheet. Operational Properties were not revalued so a high level estimate has been included. Depreciation is not provided on these properties as any provision (annual or cumulative) would not be material, due to the very long expected remaining useful life and because it’s expected residual value is not materially less than its carrying value. The PCC has a policy of regular structural inspection, repair and maintenance and the property is unlikely to deteriorate or suffer from obsolesce. Equipment used within the church premises is depreciated on a straight-line basis over four years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. There are no such assets at this time. ## **Financial instruments** The PCC has elected to apply the provision of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments” of FRS102 in full to all of its financial instruments. Debtors which are receivable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Debtors are subsequently measure at amortised cost being the transaction price less any amounts settled and any impairment losses. Creditor’s payable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Creditors are subsequently measure at amortised cost being the transaction price less any amounts settled. Page 4 of 8 |**2. Income**
**Donations**
Free Will Offering (Inc Gift Aid)
Legacies
Donations
**Charitable Activities**
Churchyard Project
Christmas Day Together
Childrens' Fund
Music
Urban Fund
Pew Bibles
Organ
Social & Fundraising Events
**Other Trading Activities**
Recharge to St Annes
Lettings
Other Income
Fees for weddings and funerals
less: expenses
**Investments**
Bank interest & dividends
Property rentals
less: expenses
Solar Panels' Generation
**Total Income**
**3. Expenditure**
**Expenditure on Fundraising:**
**Charitable Expenditure:**
**_Resourcing Ministry_**
Clergy Expenses
Associate Vicar Stipend
Church Buildings - See Note 12
Church Yard
Music and Choir
Organ
Altar items
Flower Guild
Other Church Activities
Pew Bibles
Common Fund to Diocese
Support for resourcing ministry
**_Resourcing Mission_**
Christmas Day Together
Urban Fund
Children's Work
Charitable Giving
Support for resourcing ministry
**Total Expenditure**
**Analysis of Support Costs**
Parish Office
Other Costs|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
53,564 - 53,564
24,674 - 24,674
368 - 368
**78,606**
**- 78,606**
- - -
- 310 310
- - -
- 500
500
- - -
- - -
- 75,961 75,961
59 - 59
**59 76,771 76,830**
13,735 - 13,735
300 - 300
5,304
- 5,304
5,578 - 5,578
(1,865)
- (1,865)
**23,051**
**- 23,051**
57,496 - 57,496
50,302 - 50,302
(16,069) - (16,069)
3,546 - 3,546
**95,276**
**- 95,276**
**196,991 76,771**
**273,762**
0
**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
0
0
0
8,696 - 8,696
- - -
57,322 - 57,322
6,772 - 6,772
8,402 500 8,902
888 - 888
- - -
800 - 800
864 - 864
- - -
125,510 - 125,510
29,402
- 29,402
**238,656 500**
**239,156**
- 223 223
- - -
18,208 - 18,208
4,148 - 4,148
3,267
- 3,267
**25,622 223 25,845**
**264,278 723**
**265,001**
**Unrestricted**
**Restricted**
**TOTAL**
**General**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
31,585 - 31,585
1,084 - 1,084
**32,669**
**- 32,669**
0
0
0|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2019**
**£**
**£**
**£**
74,319 - 74,319
500 - 500
890 - 890
**75,709**
**- 75,709**
- -
-
- 1,231 1,231
- -
-
- 500 500
- -
-
- -
-
- -
-
6,356 - 6,356
**6,356 1,731 8,087**
15,285 - 15,285
1,635 - 1,635
5,817
- 5,817
4,222 - 4,222
(2,165)
- (2,165)
**24,794**
**- 24,794**
60,510 - 60,510
58,160 - 58,160
(6,176) - (6,176)
3,774 - 3,774
**116,268**
**- 116,268**
**223,127 1,731**
**224,858**
0
**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2019**
**£**
**£**
**£**
0
0
0
9,123 - 9,123
- -
-
49,411 - 49,411
700 - 700
10,461 500 10,961
1,214 - 1,214
437 - 437
800 - 800
3,805 - 3,805
- -
-
119,591 - 119,591
34,839
- 34,839
**230,381 500**
**230,881**
- 1,763 1,763
- -
-
17,693 - 17,693
9,314 - 9,314
3,871
- 3,871
**30,878 1,763 32,641**
**261,259 2,263**
**263,522**
**Unrestricted**
**Restricted**
**TOTAL**
**General**
**Funds**
**Funds**
**2019**
**£**
**£**
**£**
32,499 - 32,499
6,210 - 6,210
**38,709**
**- 38,709**
0
0
0| |---|---|---| Page 5 of 8 |**4. Tangible Fixed Assets**|**Investment**
**Properties**|**Operational**
**Properties**|**IT Equipment**|**Total**|||| |---|---|---|---|---|---|---|---| |**Cost/valuation**|**£**|**£**|**£**|**£**|||| |At 1 January 2020|720,000|80,000|2,578|**802,578**|||| |Additions|-|-|-|**-**|||| |Disposals|-|-|-|**-**|||| |**At 31 December 2020**|**720,000**|**80,000**|**2,578**|**802,578**|||| |**Accumulated depreciation**|||||||| |At 1 January 2020|-
|-|2,578|**2,578**|||| |Charge for the year|-|-||**-**|||| |Disposals|-|-|-|**-**|||| |**At 31 December 2020**|**-**|**-**|**2,578**|**2,578**|||| |**Net book value**|||||||| |**At 31 December 2020**|**720,000**|**80,000**|
**-**|**800,000**|||| |At 31 December 2019|**720,000**|**80,000**|
**-**|**800,000**|||| |These properties comprise of 25, 25A, 25B,|27, 29 & 31, 31A & 31B St Mary's Row.||These properties|include a combination|of residential,||| |commercial and church used buildings. The properties were last revalued in 2015.|||||||| |**5. Investments**
CCLA Property Fund|**As at 1**
**January 2020**
**£**
**414,301**|**Purchases**
**£**
0|**Disposals**
**£**
0|**Change in market**
**value**
**£**
(20,581)|**As at 31**
**December**
**2020**
**£**
**393,721**||| |CCLA Investment Fund|**1,287,882**|0|(60,000)|85,912|**1,313,794**||| ||**1,702,183**|0|(60,000)|65,332|**1,707,515**||| |**6. Debtors and Prepayments**|-||||-||| |**Receivable within one year:**|**2020**|2019|||||| |Gift Aid Recoverable|**£**
41,718|£
24,025|||||| |St Anne's PCC|2,734|2,529|||||| |British Gas Feed In Tarif|3,546|0|||||| |Rent|1,417|4,025|||||| |Prepayments|4,670|1,449|||||| |Other Debtors|0|100|||||| ||**54,085**|**32,128**|||||| |**7. Creditors and Deferred Income**|0|0|||||| |**Amounts falling due within one year:**|**2020**|2019|||||| |Utilities|**£**
40,508|£
23,000|||||| |Charitable Giving|0|8,000|||||| |Salaries|5,050|0|||||| |St Anne's PCC|100|500|||||| |Common Fund / Curate Rent|9,670|0|||||| |Rental Costs|2,655|0|||||| |Deferred Rent|6,568|0|||||| |Other Creditors|2,574|2,515|||||| ||**67,124**|**34,015**|||||| |**8. Movements in Funds**
**Endowment Funds**|0
**01-Jan-20**
**£**
0
0
0|0
**Income**
**£**
0
0
0|**Expenditure**
**£**
0
0
0|**Capital**
**movements**
**£**
0
0
0|**Transfers**
**£**
0
0
0|**31-Dec-20**
**£**
**0**
**0**
**0**|| ||0|0|0|0|0|**0**|0| |**Restricted Funds**|||||||| |Churchyard Fund|0|0|0|0|0|**0**|| |Bell Fund|2,000|0|0|0|0|**2,000**|| |Fabric Fund|4,328|0|0|0|0|**4,328**|| |Christmas Day Together Fund|3,135|310|(223)|0|0|**3,222**|| |Childrens Fund|2,035|0|0|0|0|**2,035**|| |Pew Bibles|206|0|0|0|0|**206**|| |Music Fund|0|500|(500)|0|0|**0**|| |Organ Fund|0|75,961|0|0|0|**75,961**|| ||11,705|76,771|(723)|0|0|**87,753**|0| Page 6 of 8 |**Designated Funds**
St Mary's Row Properties
IT Equipment
Investment Growth Fund
Agreed Improvements Fund
Staffing Developments Fund
Vision 13 Fund
Premises Fund
Contingency Fund
**Unrestricted funds**
General
**Total Funds**|800,000
0
0
0
0
**800,000**
0
0
0
0
0
**0**
(0)
0
0
65,332
(65,332)
**(0)**
48,087
0
0
0
(6,060)
**42,027**
400,000
0
0
0
0
**400,000**
1,000,000
0
0
0
(1,364)
**998,636**
40,000
0
0
0
0
**40,000**
100,000
0
0
0
25,000
**125,000**
2,388,088
0
0
65,332
(47,756)
**2,405,664**
0
130,741
214,925
(282,211)
0
47,756
**111,211**
0
130,741
214,925
(282,211)
0
47,756
**111,211**
**2,530,533**
**291,696**
**(282,934)**
**65,332**
**0**
**2,604,627**| |---|---| **Churchyard Fund** . Church Yard Heritage project income funded by the National Lottery Heritage Fund. **Bell Fund** . During 2015 a restricted £2,000 donation was received toward the ongoing upkeep of the bells from the Trust. **Fabric Fund.** This fund resulted from an appeal and is restricted for re-ordering of the Nave Altar and Chancel. **Christmas Day Together Fund** . This annual event has a specific fund for its income and expenditure. **Children's & Youth Fund** . During 2017 the trustees of the Ballance Trust provided £2,035 toward Children and Youth work **Pew Bibles** . During 2016 the trustees of the Ballance Trust provided £2,000 for the purchase of Pew Bibles. **Music Fund** . This is made up of donations towards the provision of music at the church by the Friends of St. Mary's Music and Choirs. **St Mary's Row Properties.** See Note 4. **Investment Growth Fund.** Assumed on investments. This is significantly less that recent returns but returns can be volatile. **Agreed Improvements Fund. S** ufficient funding to provide for the remaining Church Yard Project, altar frontals and £20,050 bequest received in 2018 **Staffing Developments Fund** . To provide medium/long term funding for staff salaries once or if funding from investments reduces e.g. by reordering the church **Vision 13 Fund.** Reserve £1m to fund Vision 13 costs **Premises Fund.** Provide funds for improvements to the church and other PCC premises **Contingency Fund.** Hold in reserves the equivalent of approximately 6 months general running costs for unforeseen events. **General Fund.** Provide a general reserve to provide deterioration in finance, one off costs and cash flow ## **8a. Fund Transfers** The following highlights transfers between funds and there reason |**Redistribution of Investment Growth**
**Other Changes**
Tangible fixed assets
Investments
Debtors due within one year
Debtors due outside one year
Short term deposits
Cash at bank
Creditors due within one year
Creditors due outside one year
**9. Analysis of Net Assets by Fund**|**General Fund**
**Investment Fund**
**Other Funds**
check
Top up of General Fund
31,710
(31,710)
0
-
Top up of Premises Fund
(8,622)
8,622
-
Top up Contingency to 6 months
(25,000)
25,000
-
Fund Church Yard Project costs
6,060
(6,060)
-
Fund Quinquennial works
8,622
(8,622)
-
Fund Reordering costs
1,364
(1,364)
-
**Total**
**47,756**
**(65,332)**
**17,576**
-
-
-
**Total**
Total
**2020**
2019
**£**
**£**
**£**
**£**
**£**
£
0
800,000
0
0
**800,000**
800,965
0
101,852
1,605,663
0
0
**1,707,515**
1,515,255
0
54,085
0
0
0
**54,085**
29,210
0
0
0
0
0
**0**
0
30
0
0
0
**30**
30
0
22,368
0
87,753
0
**110,120**
54,840
0
(67,124)
0
0
0
**(67,124)**
(18,065)
(0)
0
0
0
0
**0**
0
**111,211**
**2,405,663**
**87,753**
**0**
**2,604,627**
2,382,235
-
0
-
-
-
0
-
**Restricted**
**Fund**
**Endowment Fund**
**Unrestricted**
**General Fund**
**Unrestricted**
**Designated**
**Fund**| |---|---| ## **10. Related Party Transactions** The PCC has 4 related charities for which some PCC Trustees are also Trustees. The following cash transactions and closing balances are included in the accounts:- |**Related Party**
St. Annes PCC, Moseley
The Friends of St Mary's Choirs & Music
Organ Renovation Fund
Flower Guild
**Total**|**Cash In**
**Cash Out**
**Owed**
**Owing**
**£**
**£**
**£**
**£**
13,529
(562)
2,735
100
500
0
0
0
25,982
0
0
0
0
0
0
800
**40,011**
**(562)**
**2,735**
**900**| |---|---| No member of the PCC was paid during the year. A small immaterial portion of the expenses paid to the incumbent may have related to his service as chairman of the PCC. Some immaterial reimbursements for general church activities were paid to some PCC members or persons closely connected to them. Page 7 of 8 |**11. Staff costs**
Wages and salaries
Social security costs
Pension contributions|**2020**
2019
**£**
£
**61,047**
57,525
0
1,672
**684**
461
**61,731**
59,657| |---|---| During the year the PCC employed a Director of Music, Site Services Manager, a Benefice Support Manager (job share) and Intergenerational Ministry Coordinator. In line with legislative requirements the PCC introduced a Workplace Pension Scheme from September 2016. The Diocese was able to use the PCCs employment allowance in 2020 to claim all the employers National Insurance costs back |**12. Church Buildings**
Utilities
Insurance
Building Works, Repairs & Cleaning|**2020**
2019
**£**
£
**18,399**
16,352
**10,484**
10,302
**28,439**
22,756
**57,322**
49,411| |---|---| 0 2020 Includes £9,986 Quinquennial and Reordering costs Page 8 of 8 Independent examlnerfs report to the trustees of St. Marfs Church, Moseley• Parochlal Church Councll I report to the trustees on my examination of the accounts of the St. Marfs Church, Moseley, Parochial Church Counol for the year ended 31" December 2020. Responslbllftles and basls of report A5 the tharity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111 the ACVI. I report in respectof my examination of theTrusVs accountscarried out under section 145 of the 2011 Act and in carryin8 Out my examination I have followed all the applKable Dlrections given by the Charty Commission under section 14515){b} of the Art. Independent examimrfs staternent I have completed my examlnation. I confirni that no materlal matters have come to my attention in tonnection wlth the examination giving me cause to believe that in any material respert: l. accounting records were not kept in respect of the Trust as required by section 130 of the Art; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requlrements concerning the fomi and content of attounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair viewwhlch is not a rnatter considered as part of an independent examination. I have no con¢ems and have tome across no other matters in connedon with the examination to whlch attention should be drnwn in this repcyt In order to enable a proper understsnding of the accounts to be reached. Signed". Name: Deidre A Mat&son. MA ACA Chartered Accountsnt Address: 22 April Croft. Moseley, Birmirvdham, B13 9HP Date: