**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**|