2020-12-31-accounts

All Saints' Church, Wrington
Statement of Financial Activities for theyear ended 31 December 2020
Receipts & Payments		2020	2019
	Note	£	£
Receipts
Donors	1	67,302	73,091
Investmentincome	2	10,654	12,414
Church Activities	3	24,261	26,674
Other income	4a,b	2,732	10,906
Sale of investment		20,000
Less GiftAid claimed duefor receipt2020			933
Total receipts		124,949	122,152
Payments
Church Running Costs	5	32,318	35,991
ParishShare and Clergy	6	61,111	60,419
TradingActivities		395
Otherexpenses	7	1,285	29,219
Beneficeweekendfees			3,456
General Administration	8	16,471	16,144
Mission	9	1,176	4,315
Total Payments		112,756	149,544
less cheques uncleared 31.12.19			1,099
			148,445
Surplus/deficit for 2020		12,193	-26,293

	A	B	C	D	E
1	All Saints' Church, Wrington
2
3	Statement of Financial Activities for theyear ended 31 December			2020
4
5	Further Analysis - Receipts & Payments
6		Notes	Unrestricted funds	Restricted funds	Total 2020
7			£	£	£
8	Receipts
9	VoluntaryReceipts
10	Covenants - Bank - tax recoverable		38,580		38,580
11	Cash - Gift Aid envelopes		1,886		1,886
12	Collections at services		2,130		2,130
13	Cash - for Organ Fund			2,125	2,125
14	Covenants - Bank - not tax recoverable		4,615		4,615
15	Tax recovered		12,634		12,634
16	Bank interest		157		157
17	Donations direct to PCC account		4,375		4,375
18	Other donations to organ fund			800	800
19	Donations for charities
20	Total		64,377	2,925	67,302
21
22	Investment income
23	Brook House fund		7,236		7,236
24	CCLA Investment funds		2,979	439	3,418
25	Total		10,215	439	10,654
26
27	Church activities
28	Fees for weddings and funerals		8,443		8,443
29	Events income		-		-
30	Benefice contributions		8,061		8,061
31	Church and ReadingRoom hire		1,683		1,683
32	Friends of Churchyardgrants			5,361	5,361
33	Benefice awayday		277		277
34	Bookshopincome		436		436
35	Total		18,900	5,361	24,261
36
37	Other income
38	Insurance claim		2,732		2,732
39	Brook House Fund - sale of investments		20,000		20,000
40	Total		22,732		22,732
41
42	Total Receipts 2020		116,224		124,949
43

	A	B	C	D	E
44
45	Further Analysis of Receipts & Payments		Unrestricted funds	Restricted funds	Total 2020
46
47	Payments
48	Stimson share to Redhill		1,285		1,285
49
50	Church runningexpenses
51	Gas & electricity		4,839		4,839
52	Water rates		236		236
53	Insurance		4,353		4,353
54	Church maintenance		7,206		7,206
55	Churchyard maintenance		6,251		6,251
56	ReadingRoom costs		1,269		1,269
57	Musician fees - weddings/funerals		260		260
58	Musician fees - Sundayservices		1,585		1,585
59	Bookshopcosts
60	Supplies for services		730		730
61	Cleaning		466		466
62	Other expenses		150		150
63	Music subs & licences		1,005		1,005
64
65
66
67	Bath & Wells DBF wedding/funeral fees		4,365		4,365
68	Clergyexpenses		1,998		1,998
69	Visitingclergycover		45		45
70	Parish share		59,113		59,113
71	Professional fees		652		652
72	Total
73
74	Administration costs
75	Staff salaries		10,401		10,401
76	Printing,stationery,telephone,IT		4,225		4,225
77	Total
78
79	Mission
80	MessyChurch,School support		514		514
81	Charitydonations		662		662
82
83	Lawder memorialplaque		626		626
84	New sound system cabinet		520		520
85
86
87	Total Payments		112,756		112,756
88

All Saints' Church, Wrington
Statement of Assets and Liabilities as at 31 December 2020
		Unrestricted funds	Restricted funds	Total	2019
	Note	£	£	£	£
Cash funds
PCC Bank current account		18,687		18,687	26,203
PCC Special interest account		25,221		25,221	25,199
Brook House fund current account		14,765		14,765	191
PCC Restriced funds account			5,227	5,227
				63,900	51,593
Investment assets
Brook House fund investment			330,593	330,593	335,740
CCLA investments		106,139	15,620	121,759	113,901
				452,352	449,641
Assets retained for church use
Piano - depreciated value		4,001			4,682
Debtors
Gift Aid recoverable		1,640		1,640	933
Liabilities
DBF fees weddings/funerals 2020		2,793			2,451
Redhill Church Stimson share					643
Other creditors					508
Designated funds
Choir fund		210
Memorial book case		559

Statement of Financial Activities 2020

Explanatory Notes

RECEIPTS

1. Donors - includes all planned giving, collections at services, other donations, and gift aid refunds.

2. Investment income - includes income from funds held in the Church of England Investment Fund, most of which is unrestricted, also the dividends from the Brook House Fund which is invested and managed professionally – these dividends are unrestricted in use. Both types of investment showed an increase in dividends in 2020 compared with 2019.

3. Church Activities – see Further Analysis pages for a breakdown of this area.

4. Other income – this includes:

5. a. Receipt of an insurance claim from Ecclesiastical Insurance following theft of sound system equipment from the church in August 2020. The replacement system is to be fitted in 2021 but has been delayed due to current restrictions, however the cost will be £1,000 more than the insurance claim, as this is the excess on the insurance policy, which has to be met from PCC funds.

6. b. Sale of investments from the Brook House Fund to cover repair and maintenance work arising from the last Quinquennial report, costing £5,426.

PAYMENTS

1. Church running expenses – see Further Analysis pages for details

2. Parish share makes up the majority of this sum (£59,113) together with Clergy expenses.

3. Other expenses: this represents the 50% share of dividends from the Stimson Fund which is paid each year to Christ Church Redhill.

4. Administration costs – see Further Analysis pages for details

5. Mission – see Further Analysis pages for details

BANK ACCOUNTS

More use is now being made of the church’s various bank accounts to ensure that funds are held in the appropriate account for each purpose. The main current account continues to be used for day to day expenses and receipts, with a significant balance being held in the Special Interest Bearing account to maximise potential income from interest, although these are also unrestricted funds that can be used for any purpose.

The Brook House current account contains the balance of funds drawn down from the Brook House investment in 2020 (£20,000) after meeting the cost of work required by the last Quinquennial report.

The Restricted Funds account now contains all the monies raised or donated over the past two years towards the repair of the organ.

INVESTMENTS

Unrestricted funds

Miss Stimson’s bequest is unrestricted as to both capital and income. The testator wished that it should be used as equally as possible for All Saints’ Wrington and Christchurch, Redhill and since 1992 the dividend income represents half the total generated.

Restricted funds

Captain Hook’s bequest can be applied towards the cost of music.

Mrs Castle’s and the Rev John Vane’s bequests can be applied towards the fabric of the church.

Mrs M C Owen – Churchyard fund consists of a number of small legacies given for the upkeep of named graves and, generally, for the care of the churchyard. The fund is invested in 418 shares in the CBF Investment Fund. On 17[th] June 2014, the Diocesan Board of Finance, as ‘custodian trustees’ transferred its holding of 144 shares originally registered in its name, to the PCC.

Endowment funds

Wrington Parish Church Trust - was formed by deed dated 11[th] May 1990. The trustees are the churchwardens and treasurer of the PCC. It is an expendable endowment fund with wide permissive terms.

Brook House Fund - on 24[th] January 2014 the Trustees of the Lawder Bequest transferred its share portfolio to the PCC at a mid-market value of £264,788. The investments are managed by J M Finn Stockbrokers.