The Abbey and Parish Church of
St. Peter and St. Paul
Registered Charity in England and Wales No. 1132631
Financial Statements Year ending 31 December 2020
Incumbent:
Revd Fr. Chris Atkinson
The Vicarage Church Walk Bourne Lincs
Bank: HSBC Bank PLC Bourne
Independent Examiner: Peter Berry & Co 8 Exeter Street
Bourne
Page 1
Financial Review of Year 2020
The financial performance in 2020 was significantly affected by the Covid 19 Virus which required a reduction / lockdown of services and other activities from March to December. This restriction is expected to continue into 2021 for a number of months.
The General Account showed a decrease in Total Income of 23% and a Total Expenditure reduction of 17.3% leaving a deficit of £12066 (deficit in 2019 was £7,626). A transfer of £20,000 from The Fabric Fund was made to support the General Fund. Also a transfer in of £165 following the closure of the HSBC Parish Clerk account leaving a fund balance of £11416 (includes a £3500 accrual).
Total Income £79,634 (£103,232 in 2019) included the following main items:
The Total Voluntary Income of £57,374 was down on last year by 24% or £17,824. Fund Raising Activities in total were down by £4,840 to £2,680 but this included £1,500 donated by the Social Committee. Net Fees, including some late receipts from 2019, were up by £1,745.
Total Expenditure £91,700 (£110,858 in 2019) included the following main items: Diocesan Share £54,819 (same as last year). Insurance at £7,087 decreased by £351. Staff costs at £5035 were down £235 on 2019.
There were no special collections.
The Hall and Sunday School account had a deficit of £4,631 on the year (surplus of £2,359 in 2019). Hall Lettings at £4,165 were down on last year by £9,466. Expenses at £8,822 were down on last year by £2508.
The Fabric Fund had a surplus of £345 on the year (deficit of £24,164 in 2019) with income at £13,128 (£20,121 in 2019) and expenditure at £12,783 (£44,285 in 2019). The income included a grant of £7,856 from the Listed Places of Worship Grant Scheme (VAT refund on Development costs). The expenditure included £12,782 on phase two of the Development Project. A sum of £20.000 was transferred out to support the General Fund.
The Fabric Fund has a total balance of £322,560 (£342,215 in 2019) with £243,019 restricted to Restoration, £54,634 restricted to the Fabric and £24,907 remaining unrestricted. The nominal investment of £250,000 made in a C of E Investment Fund in 2018 was valued at £326,490 on 31 Dec 2020.
The Birthday Fund had a deficit of £423 (£955 deficit in 2019) including £285 of donations and £712 of expenditure.
The Social Committee donated £1,500 to the PCC General Account.
The Appendix includes a summary of the accounts for the new Bourne PCC Mahajanga Support Fund. This fund is not incorporated into any Bourne PCC Funds and is limited solely to the purpose declared.
Accounting policies
The following statements have been prepared in accordance with the Church Accounting Regulations 2015 together with applicable accounting standards and the Charities SORP.
As the total of both income and expenditure as shown is in excess of £100,000 the Accounts have been prepared on an Income and Expenditure basis, making adjustments for sums due to the PCC and amounts owing by the PCC as at 31st December 2020.
No account has been taken of any increase or decrease in the value of investments in the preparation of the accounts. The value of the investments as notified by the CBF and the COIF is stated by way of note on the Balance Sheet. The PCC owns no material assets other than those shown by way of note on the Balance Sheet. These have not been valued as no sale is anticipated.
Due to the rounding of figures to the nearest whole £1 some of the columns may not appear to add up correctly. The notes referred to in the accounts and included at the end of the accounts are by way of information and do not form part of the statutory accounts.
Page 2
Statement of Financial Activities
| Unrestricted Restricted Endowment Total Prior year funds funds funds funds total funds |
|
|---|---|
| Incoming resources Incoming resources from generated funds Voluntary income Activities for generating funds Investment income Other incoming resources Total incoming resources Resources used Cost of generating funds Cost of generating voluntary income Fundraising trading cost of goods sold and other costs Charitable activities Other resources used Church Administration Total resources used Net income / (expenditure) Transfers Gross transfers between funds - in Gross transfers between funds - out Net income / (expenditure) Other recognised gains / losses Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Designated Birthday Fund Choir Fund Clergy Expense Fund Dunbar Trust Fund Fabric Fund Flower Fund Hall & Sunday School Fund Organ Fund Social Committee Fund T M Baxter Fund Restricted Bell Fund Parish Clerk Fund Youth Club Fund |
447 47 — 495 1,181 70,912 — — 70,912 97,550 9,340 — — 9,340 27,873 2,516 — — 2,516 2,480 17,063 — — 17,063 18,032 |
| 100,278 47 — 100,326 147,115 810 — — 810 1,440 1,500 — — 1,500 4,000 — — — — 2,022 10,314 — — 10,314 21,377 104,010 — — 104,010 146,819 |
|
| 116,634 — — 116,634 175,658 |
|
| (16,356) 47 — (16,309) (28,543) 20,165 — — 20,165 — (20,000) (165) — (20,165) — |
|
| (16,191) (118) — (16,309) (28,543) |
|
| (16,191) (118) — (16,309) (28,543) |
|
| 394,886 11,601 — 406,487 435,030 |
|
| 378,695 11,484 — 390,179 406,487 11,416 — — 11,416 3,318 2,815 — — 2,815 3,238 801 — — 801 950 6,076 — — 6,076 6,076 1,978 — — 1,978 1,884 322,560 — — 322,560 342,215 1,998 — — 1,998 1,660 22,601 — — 22,601 27,232 7,165 — — 7,165 7,212 772 — — 772 618 512 — — 512 483 — 10,367 — 10,367 10,323 — 205 — 205 369 — 912 — 912 908 |
Page 3
Balance sheet
| Total funds Prior year funds |
|
|---|---|
| Current assets Investments Current assets Debtors Investments Cash at bank and in hand Net current assets less current liabilities Total assets less current liabilities Total net assets less liabilities Represented by Unrestricted General fund Designated Hall & Sunday School Fund Flower Fund Social Committee Fund Fabric Fund Clergy Expense Fund T M Baxter Fund Dunbar Trust Fund Birthday Fund Organ Fund Choir Fund Restricted Bell Fund Parish Clerk Fund Youth Club Fund Funds of the church The value of investments as at 31 December 2020 was as follows: Browning Trust (Clergy Exp Fund) 3703 CBF Invest. Shares E.C. Dunbar Memorial Trust 161 Invest Shares Thomas Moore Baxter Memorial Trust 57 COIF Shares Fabric Fund CBF Investment Fund 6579.83 shares Other Assets: Freehold Church Hall and Carpark Freehold of Dyke Mission Hall (Let to Dyke Village Hall Committee) |
250,000 250,000 |
| 250,000 250,000 3,500 3,500 3,921 3,921 132,758 149,066 |
|
| 140,179 156,487 |
|
| 140,179 156,487 |
|
| 390,179 406,487 |
|
| 390,179 406,487 11,416 3,318 22,601 27,232 1,998 1,660 772 618 322,560 342,215 6,076 6,076 512 483 1,978 1,884 2,815 3,238 7,165 7,212 801 950 10,367 10,323 205 369 912 908 |
|
| 390,179 406,487 |
|
| 75,714 70,983 3,292 3,086 1,024 965 326,490 296,855 |
Approved by the PCC on 15 April 2021
……………………………………………….. Chairman Father Christopher Atkinson
………………………………………………...
Treasurer
Alan G Payne
Page 4
Statement of assets and liabilities
| General Designated Restricted Endowment |
This year **Last year ** |
|
|---|---|---|
| Current assets - Investments Fabric Fund Investment Shares Accumulati - Totals Current assets - Cash at bank and in hand General Current HSBC - General Deposit HSBC - Hall & Sunday School HSBC - Bell Deposit HSBC - Birthday Deposit HSBC - Choir Deposit HSBC - Dunbar Deposit HSBC - Fabric Deposit HSBC - Flower Deposit HSBC - Organ Deposit HSBC - Parish Clerk Deposit HSBC - General Deposit CBF - Sunday School Deposit CBF - Bell Deposit CBF - Birthday Deposit CBF - Choir Deposit CBF - Fabric Deposit CBF - Organ Deposit CBF - Thomas Moore Baxter Deposit Nat West - Parish Clerk Deposit CBF - Clergy Expenses Deposit CBF - Social Committee - Youth Club Deposit CBF - Totals Current assets - Debtors Accounts Receivable - Totals Current assets - Investments Clergy Expenses Investment COIF - Thomas Moore Baxter Investmnet COIF - Dunbar Trust CBF - Totals Grand total |
— 250,000 — — |
250,000 250,000 |
| — 250,000 — — 7,844 — — — 32 — — — — 16,351 — — 15 — 151 — — 2,732 — — — 283 — — — 1,810 — — — 16,060 — — — 1,998 — — — 3,878 — — — — 0 — 25 — — — — 6,250 — — — — 10,216 — — 84 — — — 519 — — — 56,500 — — — 3,287 — — — 462 — — — — 205 — — 2,373 — — — 772 — — — — 912 — |
250,000 250,000 7,844 (254) 32 32 16,351 20,982 166 166 2,732 3,155 283 434 1,810 1,716 16,060 35,715 1,998 1,660 3,878 3,939 0 165 25 25 6,250 6,250 10,216 10,173 84 83 519 516 56,500 56,500 3,287 3,273 462 433 205 205 2,373 2,373 772 618 912 908 |
|
| 7,916 113,358 11,484 — 3,500 — — — |
132,758 149,066 3,500 3,500 |
|
| 3,500 — — — — 3,703 — — — 57 — — — 161 — — |
3,500 3,500 3,703 3,703 57 57 161 161 |
|
| — 3,921 — — |
3,921 3,921 |
|
| 11,416 367,279 11,484 — |
390,179 406,487 |
Fund movement by type
| Opening Incoming Outgoing Transfers Gains/losses Closing |
|
|---|---|
| General - General fund Unrestricted Sub-total for General B-Hall - Hall & Sunday School Designated Sub-total for B-Hall C-SocCom - Social Committee Fun Designated Sub-total for C-SocCom D-Fabric - Fabric Fund Designated Sub-total for D-Fabric E-ClergyEx - Clergy Expense Fund Designated |
3,318 79,634 91,700 20,165 — 11,416 |
| 3,318 79,634 91,700 20,165 — 11,416 27,232 4,192 8,822 — — 22,601 |
|
| 27,232 4,192 8,822 — — 22,601 618 2,495 2,341 — — 772 |
|
| 618 2,495 2,341 — — 772 342,215 13,128 12,783 (20,000) — 322,560 |
|
| 342,215 13,128 12,783 (20,000) — 322,560 6,076 — — — — 6,076 |
Page 5
| Sub-total for E-ClergyEx F-BaxNWe - T M Baxter Fund Designated Sub-total for F-BaxNWe G-Dunbar - Dunbar Trust Fund Designated Sub-total for G-Dunbar H-Bell - Bell Fund Restricted Sub-total for H-Bell J-Birthday - Birthday Fund Designated Sub-total for J-Birthday K-Organ - Organ Fund Designated Sub-total for K-Organ L-Choir - Choir Fund Designated Sub-total for L-Choir M-Flower - Flower Fund Designated Sub-total for M-Flower N-ParishCl - Parish Clerk Fund Restricted Sub-total for N-ParishCl O-YClubC - Youth Club Fund Restricted Sub-total for O-YClubC Grand total |
6,076 — — — 483 30 — — |
— 6,076 — 512 |
|---|---|---|
| 483 30 — — 1,884 94 — — |
— 512 — 1,978 |
|
| 1,884 94 — — 10,323 43 — — |
— 1,978 — 10,367 |
|
| 10,323 43 — — 3,238 289 712 — |
— 10,367 — 2,815 |
|
| 3,238 289 712 — 7,212 18 65 — |
— 2,815 — 7,165 |
|
| 7,212 18 65 — 950 3 152 — |
— 7,165 — 801 |
|
| 950 3 152 — 1,660 398 60 — |
— 801 — 1,998 |
|
| 1,660 398 60 — 369 — — (165) |
— 1,998 — 205 |
|
| 369 — — (165) 908 4 — — |
— 205 — 912 |
|
| 908 4 — — |
— 912 |
|
| 406,487 100,326 116,634 — |
— 390,179 |
Analysis of income and expenditure
| Total | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | This year | Last year | ||
| NCOME AND ENDOWMENTS | |||||||
| ncoming resources from generated funds | |||||||
| 060 - Bank Interest HSBC | 0 | — | — | — | 0 | 0 | |
| 061 - Interest CBF | 1 | — | — | — | 1 | 2 | |
| 125 - Fabric Interest CBF | — | 240 | — | — | 240 | 715 | |
| 126 - Fabric Interest HSBC | — | 31 | — | — | 31 | 128 | |
| 150 - T M Baxter Interest | — | 30 | — | — | 30 | 29 | |
| 155 - E C Dunbar Interest CBF | — | 92 | — | — | 92 | 90 | |
| 156 - E C Dunbar Interest HSBC | — | 2 | — | — | 2 | 3 | |
| 162 - Bell Interest HSBC | — | — | 0 | — | 0 | 0 | |
| 163 - Bell Interest CBF | — | — | 43 | — | 43 | 93 | |
| 171 - Birthday Interest HSBC | — | 3 | — | — | 3 | 9 | |
| 172 - Birthday Interest CBF | — | 0 | — | — | 0 | 1 | |
| 181 - Organ Interest HSBC | — | 4 | — | — | 4 | 6 | |
| 182 - Organ Interest CBF | — | 14 | — | — | 14 | 30 | |
| 192 - Choir Interest HSBC | — | 0 | — | — | 0 | 1 | |
| 193 - Choir Interest CBF | — | 2 | — | — | 2 | 5 | |
| 200 - Flower Interest HSBC | — | 2 | — | — | 2 | 3 | |
| 221 - Youth Club Interest CBF | — | — | 4 | — | 4 | 8 | |
| 232 - Hall & SS Interest CBF | — | 27 | — | — | 27 | 57 | |
| Total | 1 | 446 | 47 | — | 495 | 1,181 |
INCOME AND ENDOWMENTS
Incoming resources from generated funds
Page 6
Incoming resources from generated funds - Voluntary income
| Incoming resources from generated funds - Voluntary income | ed funds - Voluntary income |
|---|---|
| 051 - Planned Giving NGA 2,249 — — — 2,249 2,503 052 - Gift Aid 35,579 — — — 35,579 39,692 053 - Cash Offerings 2,897 — — — 2,897 8,174 054 - Baptisms, Weddings, Funerals, Homes 3,139 — — — 3,139 2,665 056 - Donations 2,802 — — — 2,802 3,839 063 - Income Tax Repayment 10,791 — — — 10,791 8,756 064 - Special Collections Received — — — — — 1,972 068 - Funeral Collections (Contra) (83) — — — (83) 7,597 120 - Fabric Donations — 12,857 — — 12,857 7,700 121 - Fabric Appeals — — — — — 11,578 161 - Bell Donations — — — — — 25 170 - Birthday Donations — 285 — — 285 641 180 - Organ Donations incl Tutor Fees — — — — — 1,792 201 - Flower Donations — 396 — — 396 617 Total 57,374 13,538 — — 70,912 97,550 Incoming resources from generated funds - Activities for generating funds 057 - Events 1,025 — — — 1,025 2,073 090 - Receipts from Social Committee 1,500 — — — 1,500 4,000 091 - Magazine Advertising 155 — — — 155 1,447 105 - Social Committee Events — 484 — — 484 3,504 107 - Social Committee 59 Club Receipts — 2,011 — — 2,011 3,061 183 - Organ Money Raising Events — — — — — 157 231 - Hall & SS Hire of Hall — 4,165 — — 4,165 13,631 Total 2,680 6,660 — — 9,340 27,873 Incoming resources from generated funds - Investment income 062 - Trust Income 223 — — — 223 217 093 - Clergy Expense Fund Interest 2,293 — — — 2,293 2,264 Total 2,516 — — — 2,516 2,480 Other incoming resources 055 - Parish Fees 8,366 — — — 8,366 12,167 070 - Diocesan Fees 8,696 — — — 8,696 5,865 Total 17,063 — — — 17,063 18,032 |
2,249 — — — 2,249 2,503 35,579 — — — 35,579 39,692 2,897 — — — 2,897 8,174 3,139 — — — 3,139 2,665 2,802 — — — 2,802 3,839 10,791 — — — 10,791 8,756 — — — — — 1,972 (83) — — — (83) 7,597 — 12,857 — — 12,857 7,700 — — — — — 11,578 — — — — — 25 — 285 — — 285 641 — — — — — 1,792 — 396 — — 396 617 |
| 2,516 — — — 2,516 2,480 8,366 — — — 8,366 12,167 8,696 — — — 8,696 5,865 |
|
| 17,063 — — — 17,063 18,032 |
|
| INCOME TOTAL | 79,634 20,645 47 — 100,326 147,115 |
EXPENDITURE
Cost of generating funds - Cost of generating voluntary income
| 113 - Social Committee 59 Club | — | 810 | — | — | 810 | 1,440 |
|---|---|---|---|---|---|---|
| Prizes | ||||||
| Total | — | 810 | — | — | 810 | 1,440 |
| ost of generating funds - Fundraising | trading cost of goods sold and other costs | |||||
| 111 - To PCC Account (transfer) | — | 1,500 | — | — | 1,500 | 4,000 |
| Total | — | 1,500 | — | — | 1,500 | 4,000 |
Cost of generating funds - Fundraising trading cost of goods sold and other costs
Page 7
Charitable activities
| 075 - Special Collections Paid 165 - Bell - Affiliation Donation to LDGBR Total Other resources used 072 - Funeral Collections Contra Expend 073 - Fees Contra Expend to 55 087 - Assigned Fees Expend contra to acc 070 110 - Social Club Expenses Total Church Administration 077 - Diocesan & Deanery Share 078 - Electricity 079 - Heating 080 - Cleaning & Sundry 081 - Insurance 082 - Church Services (Wine, Wafer, Candles) 083 - Staff Costs 084 - Magazine Costs 086 - Other Repairs 088 - Printing & Stationery 089 - Clergy & Office Expenses 130 - Fabric Repairs 131 - Fabric Quinquennial Repairs 132 - Fabric Architect Fees 175 - Birthday Payments 184 - Fees Paid incl Tutor Fees 185 - Organ Repairs incl Piano 197 - Choir RSCM Fee 198 - Choir Robes & Other Expenses 209 - Cost of Flowers 236 - Hall Electricity 237 - Hall Heating 238 - Hall Insurance 239 - Hall Water & Sewage 240 - Hall Repairs and Renewals 241 - Hall Caretaker & Opening Fees Total |
— — — — — — — — |
— 1,972 — 50 |
|---|---|---|
| — — — — (83) — — — 1,670 — — — 8,696 — — — — 31 — — |
— 2,022 (83) 7,232 1,670 7,216 8,696 5,865 31 1,064 |
|
| 10,283 31 — — 54,819 — — — 964 — — — 5,246 — — — 632 — — — 7,087 — — — 1,034 — — — 5,035 — — — 763 — — — 2,183 — — — 1,529 — — — 2,124 — — — — — — — — 11,856 — — — 926 — — — 712 — — — — — — — 65 — — — 107 — — — 45 — — — 60 — — — 498 — — — 871 — — — 574 — — — 501 — — — 930 — — — 5,448 — — |
10,314 21,377 54,819 54,819 964 1,034 5,246 5,054 632 601 7,087 7,438 1,034 2,339 5,035 5,270 763 3,276 2,183 4,386 1,529 1,517 2,124 2,839 — 2,468 11,856 40,445 926 1,372 712 1,605 — 240 65 233 107 105 45 — 60 449 498 591 871 1,085 574 604 501 536 930 2,306 5,448 6,208 |
|
| 81,417 22,593 — — |
104,010 146,819 |
|
| EXPENDITURE TOTAL | 91,700 24,934 — — |
116,634 175,658 |
| GRAND TOTAL | (12,066) (4,290) 47 — |
(16,309) (28,543) |
Page 8
| Total funds | Prior year funds | ||
|---|---|---|---|
| Current assets | |||
| Investments | 250,000 | 250,000 | |
| 250,000 | 250,000 | ||
| Current assets | |||
| Debtors Investments Cash at bank and in hand |
3,500 3,921 132,758 |
3,500 3,921 149,066 |
|
| 140,179 | 166,487 | ||
| Net current assets less current liabilities | 140,179 | 166,487 | |
| Total assets less current liabilities | 390,179 | 406,487 | |
| Total net assets less liabilities | 390,179 | 406,487 | |
| Represented by | |||
| Unrestricted | |||
| General fund | 11,416 | 3,318 | |
| Designated | |||
| Hall & Sunday School Fund Flower Fund Social Committee Fund |
22,601 1,998 772 |
27,232 1,660 618 |
|
| Fabric Fund | 322,560 | 342,215 | |
| Clergy Expense Fund | 6,076 | 6,076 | |
| T M Baxter Fund | 512 | 483 | |
| Dunbar Trust Fund | 1,978 | 1,884 | |
| Birthday Fund | 2,815 | 3,238 | |
| Organ Fund | 7,165 | 7,212 | |
| Choir Fund | 801 | 950 | |
| Restricted | |||
| Bell Fund | 10,367 | 10,323 | |
| Parish Clerk Fund | 205 | 369 | |
| Youth Club Fund | 912 | 908 | |
| Funds of the church | 390,179 | 406,487 | |
| The value of investments as at 31 December 2020 was as follows: | |||
| Browning Trust (Clergy Exp Fund) 3703 CBF Invest Shares | 75,714 | 70,983 | |
| E.C. Dunbar Memorial Trust 161 InvestShares | 3,292 | 3,086 | |
| Thomas Moore Baxter Memorial Trust57 COIF Shares | − | 1,024 | 965 |
| Fabric Fund CBF Investment Fund 6579,83 shares | 326,490 | 296,855 | |
| Other Assets: | |||
| Freehold Church Hall and Carpark | |||
| Freehold of Dyke Mission Hall (Let to Dyke Village HallCommittee) |
| Chairman | Father Christopher Atkinson |
|---|---|
| Treasurer | Alan G Payne |