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2020-12-31-accounts

During the year the following
served
as members
ofthe PCC:
as members
ofthe PCC:
Rector: The Revd Canon Dr Crispin Pailing (Chair)
Assistant Priest: The Revd Michelle Montrose
Assistant Priest: The Revd Bill Addy
Assistant Curate: The Revd Fergus Butler-Gallic
(until November 2020)
Wardens: Mrs Pauline
Lewis
Mrs Eva Cookey
Deanery Synod Representatives: Mr Mark Lewis (until October 2020)
Mrs Lynn White (from October 2020)
Mrs Emily Ridgway
(from November 2020)
Secretary: Mr Guy Barker
Treasurer: Mr Nick Ledingham
Other Elected Members: Dr Rebecca Selman
Mr Nick Ledingham
Mrs Sarah Wrightson
Mr Martyn
Cull
Dr Sarah-Jane
Cull
Mrs Elaine Price
Mr John Mason (until October 2020)
Mr David Large
Mrs Sarah Doyle
Mr Guy Barker
Dr Louis Johnson
(until June
2020)
Mr Peter Summerfield
Captain Peter Woods (from October 2020)
In attendance: lan Grant-Funck
(Parish Assistant)

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Forthe year
ended 31 December 20
20
Notes 2020 2019
6 8
Fixed Assets
Tangible 5(a) 43,295 48,120
Investment 5(b) 562,163 530,140
Sub Total 605,458 578,260
Current Assets
Stock
Debtors 18,941 18,552
Cash at bank and in hand 88,533 92,975
Sub Total 107,474 111,527
Liabilities
Creditors - amounts falling due «1 year 918 9,827
Net Current Assetsl (Liabilities)
Total assets less current liabilities 108,558 101,900
TOTAL NETASSETS 712,014 680,160
unrestricted' 160,031 160,342
Restricted 13,875 25,372
Endowment 538,108 494,446
TOTAL PARISH FUNDS 712,014 680,180

(FRS102)
2.Income
(FRS102)
2.Income
issu ed on 16 July 2014, and with the Charities Act2011.
Recognition of income: These are included
in the Statement of Financial Activies (SoFA)when:
The charity becomes entitled to the resources;
It is more likely than not that the trustees
will receive the resources; and
The monetary
value can be measured
with sufficient
reliability.
Ofl'setting: There has been no offsetting ofassets and liabilities, or income and expenses, unless required or
permitted
by the FRS 102SORP or FRS 102.
Grants and Donations: Grants and donations are only included
in the SoFA when the general income recognition
criteria
are
met (5.10-5.12FRS 102SORP).
In the case ofperformance
related grants, income must only be recognised to the extent that the
charity
has provided
the specified goods or services as entitlement
to the grant only occurs when the
performance
related conditions are met (5.16FRS 102SORP)
Legacies: Legacies are included
in the SoFAwhen receipt is probable, that is, when there has been grant of
probate, the executors have established
that there are sufficient assets in the estate and any conditions
attached to the legacy are either within the control ofthe charity or have been met.
Tax reclaims: Gift Aid receivable
is included
in income when there is a valid declaration
from the donor.
Any Gift Aid
amount recovered
on a donation
is considered
tobe part ofthat gilt and is treated as an addition
to the
same fund as the initial donation
unless the donor or the terms ofthe appeal have specified otherwise.
Support costs: The charity has incurred expenditure
on support costs.
Volunteer help: The value ofany voluntary
help received is not included
in the accounts but is described
in the trustees'
annual
report.
Interest, dividends etc. Income from interest,
royalties and dividends
is included
in the accounts when receipt is probable
and
the amount
receivable can be measured
reliably.
Investment gains/losses This includes
any realised or unrealised
gains or losses on the sale ofinvestments
and any gain
or loss
resulting
from revaluing
investments
to market value atthe end ofthe year.
3.Expenditure and liabilities
Liability recognition: Liabilities are recognised where it is more likely than not that there isa legal or constructive
obligation
committing
the charity to pay out resources and the amount ofthe obligation can be measured
with
reasonable
certainty.
Creditors: The charity has creditors which are measured
at settlement
amounts less any trade discounts.
Financial instruments: The charity accounts for basic financial
instruments
on initial recognition as per paragraph
10.7FRS 102
SORP. Subsequent
measurement
isas per paragraphs
11.17top 11.19,FRS 102SORP.
4.Assets
Investments: Fixed asset investments
in quoted shares, traded
bonds
and similar
investments
are valued
initially at
cost and subsequently
at fair value (their market value) at the year end. The same treatment
is
applied
to unlisted
investments
unless fair value cannot be measured
reliably
in which case it is measured
atcost
less impairment.
Investments
held for resale or pending
their sale and cash and cash equivalents
with a maturity
date of
less than
1 year are treated as current asset investments.

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5(a) FIXED A SSETS
Freehold land 3 Church
Tangible (Unrestricted) building
2
equipment Total
6
Actual / Deemed cost As at 1/1 66,889 66,889
Disposal
Additions at cost 2,886 2,886
As at 31/12 69,775 69,775
Depreciafion As at 1/1 18,769 18,769
Withdrawn
on
disposals
Charge for year 7,711 7,711
As at 31/12 28,480 26,480
Net Book Value As at 31/12 43,295 43.295
5(b) Investments 2020
8
2019
6
GLADSTONE FUND Historical cost 169,498 152,139
Market value 191,602 189,039
HAMPSON AND SUNDRY Historical cost 251,577 232,922
BEQUESTS Market value 277,398 276,883
INVESTEC Income Account Historical cost 20,398 10,946
Market value 20,398 10,946
OLSN EDUCATIONAL FUND Historical cost 19,902 19,902
Market value 30,486 28,524
Accrued Interest 5,546 4,671
I 'POOL BLITZ MEM TRUST Historical cost 6,250 6,250
Market value 8,205 7,445
MUSIC ENDOWMENT FUND Histodical Cost 25,688 12,500
Market Value 28,529 12,632
TOTALS Historical cost 493,313 434,659
Market value + Accrued Interest 562,164 530,140
The marke t value as at 31egecamber represents
investments
for
f
Unrestricted funds 20,398
Restricted funds 13,751
Endowment funds 528,015

2020f 2019
f
Tax recoverable 11,040 14,910
Other debtors 7,901 3,642
Total 18,941 18,552
7.LIABILITIES (Amounts falling due in one year)
2020
F
2019
f
Creditom 918 9,627
Total 918 9.627
8.FUNDS Balance Incoming Resources Fund Investment Balance
at 1/1 resources expended Transfers gains at 31/12
Unrestricted fund
movements
Investec Dividends 10,946 9,452 20,398
Accumulated funds 149,396 116,776 127,039 500 139,633
Total 160,342 126,228 127,039 500 160,031
Restricted fund
movements
Blilz Memorial 8,069 (500) 760 8,331
Fund
OLSN Educational
Fund
4,671 675 5,546
Music Fund 12,632 (12,632)