2020-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St Peter And St Mary, Stowmarket

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ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31st December 2020

The Parochial Church Council of the Ecclesiastical Parish of St Peter and St Mary Stowmarket

The Parochial Church Council of St Peter & St Mary, Stowmarket

Contents

Contents and Charity Details

Contents and Charity Details……………………………………………………………………………………	1
Trustees’ Report……………………………………………………………………………………………………...	2
Independent Examiner’s Report………………………………………………………………………………	8
Statement of Financial Activities……………………………………………………………………………..	9
Balance Sheet………………………………………………………………………………………………………….	10
Notes to the Financial Statements…………………………………………………………………………..	11

Charity Details

Vicar:	Rev’d Michael Eden
Trustees:	The Parochial Church Council
Charity Commission Registration number:	1132857 (England and Wales)
Principal Office:	St Peter & St Mary’s Church
	Station Road West
	Stowmarket
	Suffolk, IP14 1ES
Accountant:	Geoff Mann FCIE
	Geoff Mann Limited
	Dee House
	Highworth Avenue
	Cambridge
	CB4 2BQ
Principal Bankers:	CAF Bank Limited
	25 Kings Hill Avenue
	West Malling
	Kent, ME19 4JQ

2020 Annual Report

Page 1

The Parochial Church Council of St Peter & St Mary, Stowmarket

Trustee’s Report for the Year ended 31st December 2020

Trustees’ Report for the year ended 31 December 2020

The Trustees, who are the members of the Parochial Church Council, submit their Annual Report and Financial Statements for the year ended 31st December 2020. The financial statements have been prepared in accordance with the relevant accounting policies and comply with Church Representation Rules, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with FRS 102, as updated February 2016.

Objectives, Activities, Achievement and Performance

Main Activities

The Parochial Church Council (‘PCC’) aims to promote in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

Public Benefit

The PCC is aware of its duty to ensure that the charitable activities of the Church further its charitable objectives and that these activities are for the purpose of public benefit. A review of the activities is included in this Annual Report and gives details of the way in which this has been achieved. The activities undertaken above are given careful consideration by the Trustees against the Charity Commission’s guidance on public benefit.

Achievements and Performance – Vicar’s Report

The year 2020 was like no other that we have ever known as the Coronavirus Pandemic took hold and the whole country went into Lockdown. Church buildings were closed and gatherings of people were prohibited. This presented us with very real challenges in finding new and innovative ways to fulfil our Vision and Strategic Plan. Our Vision is to be a welcoming, inclusive, vibrant, growing Church, with members of all ages, seeking God, open to the Holy Spirit, living out the gospel day by day; Rich in diversity, yet united in our service of Jesus Christ; Characterized by love, mercy and the joy of serving, where each member is encouraged to grow, and use their abilities and gifts.

Our Plan is to come up with ways that we can put our vision into practice in the following 3 areas of Church life: 1) Open to God – encouraging a deeper relationship with God; 2) Open Church – being available to, and helping to meet the needs of, all sections of the community; 3) Open Invitation – actively working to engage more people in the life of the Church. In ALL that we do we are continually looking for creative and sustainable ways to put into practice our ‘mission statement’ of ‘LETTING PEOPLE KNOW ABOUT THE LOVE OF JESUS CHRIST’.

Worship and prayer are vital for the life of the Church but Collective Acts of Worship were suspended by the order of the Archbishop of Canterbury from mid-March until July. During Lockdown Audio Services were broadcast online combined with a ‘live gathering’ using the Video Conferencing facility Zoom. When Churches re-opened there were 2 days a week when the Church Building was accessible for Private Prayer, with One Service on Sunday Morning. Congregations were limited to 30 households, facemasks had to be worn, social distancing and handwashing were put in place and communal singing was banned. At this time we started live-streaming our Sunday Service so that people could join in at home.

2020 Annual Report

Page 2

The Parochial Church Council of St Peter & St Mary, Stowmarket

Trustee’s Report for the Year ended 31st December 2020

Church attendance figures are somewhat meaningless for 2020 so they have not been included in this report. There were no baptisms and no weddings. The Annual Parochial Church Meeting was delayed until October 2020 when the Electoral Roll listed 115 (118 in 2019) members. Marion Gray and Dan Sparks were elected as Churchwardens and their help has been invaluable.

Over the year the Church was involved with at least 138 (315) acts of worship of which 44 (237) included Holy Communion. There were 30 (31) funerals linked to the parish (of which 5 (15) were in Church), and we said goodbye to Pam Woodhouse, Pat Smith, Avril Hooper and Rosemary Cripps. Services in the Care Homes at Chilton Court, Woodfield Court and Cedrus House only took place until March as did Home Communions for those who are unable to get to Church.

Important work was begun to replace the bell frame in the Church Tower but was not able to meet its completion date. When the project is finished there will also be 3 new bells.

Progress of the Hospitality Area with Cafe, Creche and Welcome Space at the West End of the Church has been slow but it is hoped that work will begin this year.

The Church relies on all the good work done by our volunteers in the Church Office and we thank Jane Stretch, Pat Wells and Charlotte Whyte who worked in the office or from home.

St. Mary's Hall is the venue for the highly successful St. Peter & St. Mary's Preschool which continued to open caring for the children of Key Workers.

Our children's work continues with Little Fishes meeting online and our Boys' Brigade and Girls Association Company managed to meet a few times outdoors and continues to meet on Zoom, on Tuesday evenings.

Under the first Lockdown, we arranged the Church Members into Geographical Groups of around 10 people living close to each other. A Group Leader has kept in touch with all in their group and members themselves have maintained contact with each other. This has allowed us to give pastoral and practical support to those unable to leave their homes.

A weekly get-together for coffee and a chat takes place on Zoom as well as a Prayer Meeting every Wednesday at 6:30pm. And over the summer the Gardening Group worked to keep the church grounds tidy.

The Clergy, Readers and Preachers Team continues to meet regularly online and the retired Clergy Rev’d Ian Hooper and Rev’d Raymond Gilbert have not taken part in leading services for safety reasons.

Most of the 7 House Groups have managed to meet in some form or another and areas of study included the Mike Pilivachi book ‘Everyday Supernatural’.

The Christmas Tree Festival did go ahead in a reduced format and for a shorter length of time but it was much appreciated by those who came. The Town Mayor, Cllr. Keith Scarff switched on the lights and throughout the year we have had the continued support of the Town Council and the Library, Red Gables, The Walnut Tree and the Museum of East Anglian Life.

I would like to thank all who have helped in the running of the Church this year, especially the Churchwardens and Deputy-Wardens. Our Report of Church Activities shows more of what goes on although this year many groups have been unable to meet. We always aim to improve ways in which we are inclusive as an Open Church and offering an Open Invitation to all in the service of Jesus Christ. It was not easy in 2020 but we have embraced the new technologies that are available, to reach out in fresh and different ways. We have a presence on Facebook and Twitter and our website is a launch

2020 Annual Report

Page 3

The Parochial Church Council of St Peter & St Mary, Stowmarket

Trustee’s Report for the Year ended 31st December 2020

pad for information dissemination. Setting up a YouTube channel has allowed us to Livestream on Sunday mornings and also broadcast pre-recorded services. Our thanks go to Martin Gray who has set up and operates all of that. And you can be assured that the latest Safeguarding and Data Protection and Copyright legislation is kept up to date.

Prayer is brought to all Church activities in a real desire to put into practice the will of God and develop as a Church that is a true expression of His Kingdom here on Earth. As we do so we are seen to be fulfilling our ‘mission statement’ of LETTING PEOPLE KNOW ABOUT THE LOVE OF JESUS CHRIST.

Rev’d Michael Eden

2020 Annual Report

Page 4

The Parochial Church Council of St Peter & St Mary, Stowmarket

Trustee’s Report for the Year ended 31st December 2020

Financial Review

Total incoming resources in the year amounted to £227,123 (2019: £282,334), with total expenditure incurred at £283,225 (2019: £206,136). Overall the net movement in funds, when taking account of investments gains, was a net outflow of £53,826 (2019: net inflow of £81,397). The net assets of the PCC at the balance sheet date were £484,814, compared with £538,640 in the previous year.

Investment policy and performance

There is no intention to retain funds over the longer term and cash not immediately required is placed on deposit with the Church of England. The only investment is the Finbow Endowment Fund held and administered by the Diocese.

Reserves Policy

The General Fund is intended to carry three to four months balances to provide for contingencies in the coming year and to provide sufficient cash flow to cover the regular transactions. At the year end the balance on the General Fund amounted to £28,155. This is just over three months’ worth of expenditure in this fund. The Trustees will continue to monitor this balance in 2021 in conjunction with incoming resources to meet its reserves policy going forwards.

The 3Rs balance will vary according to the expenditure on projects currently in progress and planned for the near future. This requires ongoing review by the Trustees year on year to ensure that the reserve held is sufficient for upcoming projects.

The balance carried forward on the Pre-school account is being retained for the future use of the Preschool. Sufficient reserves are maintained in order for this to occur, although no formal reserves policy is in place.

Funds arising from certain legacies currently remain unspent. The PCC is taking the prudent view that this money should be held on deposit until there is greater certainty about the outcome of current renovation projects and future sources of income.

2020 Annual Report

Page 5

The Parochial Church Council of St Peter & St Mary, Stowmarket

Trustee’s Report for the Year ended 31st December 2020

Structure, Governance and Management

The Parochial Church Council of St Peter and St Mary, Stowmarket is a body established by the Church of England. The PCC operates under the Parochial Church Powers measure 1956, as amended, and Church Representation Rules.

The PCC is also registered as a charity with the Charity Commission in England and Wales, charity no. 1132857, and the PCC members form the Board of Trustees of the Charity.

Trustees

The Trustees who served during the year were:

Rev’d Michael Eden (Chairman)

Joan Peachey (Vice Chairman) (Term ended 11th October 2020) Martin Gray (Deputy Chair and Assistant Churchwarden) (Appointed 11th October 2020) Marion Gray (Churchwarden and Deanery Representative) Daniel Sparks (Churchwarden) (Appointed 11th October 2020) Rev. Richard Stretch (Curate) Matt Levett (Deanery Representative) (Appointed 11th October 2020) Geoff Marchant (Treasurer and Deanery Representative) (Resigned May 2020) Roy Pettitt (Deanery Representative) (Term ended 11th October 2020) Judy Eden Tony Ingham Margaret Marvell (Term ended 11th October 2020) Zoe Davies Helen Buckley Gloria Gord Charlotte Whyte Wesley Gerald Barnett (Assistant Churchwarden) (Appointed 11th October 2020) Michael Munson (Appointed 11th October 2020) Eugene Milne (Appointed 11th October 2020)

Administration of the Charity

The Charity is administered by the Board of Trustees, which is the Parochial Church Council. The Trustees meet physically every month (except in August and December) to review the performance and governance of the Charity. The PCC has various committees reporting to it, grouped into three areas: Building and Finance; Mission and Outreach; Ministry and Worship. The PCC establishes other committees as required to deal with specific issues and events.

Recruitment, appointment and training of Trustees

The appointment of PCC members is governed by and set out in the Church Representation Rules. Members are appointed at the Annual Parochial Church Meeting and additional members can be coopted by the appointed members.

The Board recognises the need of Trustees to reflect a wide and diverse range of skills and interests. The Trustees will periodically review the composition of the Board, identifying the need for additional expertise where necessary. The majority of Trustees are identified through word of mouth and knowledge of the Charity. Trustees will review any potential candidate to ensure that they complement the Charity and the Board. Newly nominated trustees are usually briefed by the Chairman and receive background information on the Charity as necessary.

2020 Annual Report

Page 6

The Parochial Church Council of St Peter & St Mary, Stowmarket

Trustee’s Report for the Year ended 31st December 2020

Risk Assessment

Systems have been established which mitigate the major risks to which the Church is exposed. Risks arising from the Covid-19 pandemic were carefully assessed and appropriate measures were put in place.

Trustees’ Responsibilities

The Charity Trustees are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to Charities in England and Wales requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing the financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the Financial Statements; and
prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the requirements of the Church of England.

They are also responsible for safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

Approved by the Trustees on 22[nd] March 2021 and signed on their behalf by:

2020 Annual Report

Page 7

Independent Examiner’s Report

The Parochial Church Council of St Peter & St Mary, Stowmarket

Independent Examiner’s Report

Independent Examiner’s Report to the Trustees of The Parochial Church Council of St Peter and St Mary, Stowmarket

I report on the Financial Statements of the Charity for the year ended 31 December 2020, which are set out on pages 9 to 20.

Respective Responsibilities of Trustees and Examiner

The Charity’s Trustees are responsible for the preparation of the Financial Statements. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011, and that an independent examination is needed. It is my responsibility to:-

examine the Financial Statements under section 145 of the Act;
follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act; and
state whether particular matters have come to my attention.

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the Financial Statements presented with those records. It also includes consideration of any unusual items or disclosures in the Financial Statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:-

(1) which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 130 of the 2011 Act; and
to prepare Financial Statements which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
(2) or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the Financial Statements to be reached.

Geoff Mann FCIE Geoff Mann Limited Dee House Highworth Avenue Cambridge CB4 2BQ

2020 Annual Report

Page 8

Statement of Financial Activities for Statement of Financial Activities for Statement of Financial Activities for the year ended 31 December 2017 the year ended 31 December 2017 the year ended 31 December 2020

The Parochial Church Council of St Peter & St Mary, Stowmarket

Statement of Financial Activities for the year ended 31 December 2020

Notes Income Donations and Legacies Other Trading Activities Investments Charitable Activities Other Total Income 1 and 2 Expenditure Charitable Activities Raising Funds Total Expenditure 1 and 3 Net Income/(Expenditure) Transfers Between Funds 5 Net Income/(Expenditure) and Net Movement in Funds before gains and losses on investments Other Recognised Gains and Losses Realised Gains/(Losses) on Investments 8b Movement in Funds for the Year Reconciliation of Funds Total Funds Brought Forward Total Funds Carried Forward	2020 2019 Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total Funds Funds Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ £ £ 75,493 76,812 0 152,305 80,617 92,962 0 173,579 0 6,660 0 6,660 0 16,579 0 16,579 1,215 265 0 1,480 1,343 471 0 1,814 5,219 61,425 0 66,644 17,653 72,469 0 90,122 34 0 0 34 240 0 0 240
	81,961 145,162 0 227,123 99,853 182,481 0 282,334
	115,867 166,225 0 282,092 118,934 84,719 0 203,653 94 1,039 0 1,133 119 2,364 0 2,483
	115,961 167,264 0 283,225 119,053 87,083 0 206,136
	(34,000) (22,102) - (56,102) (19,200) 95,398 - 76,198 18,830 (18,830) - - 27,760 (27,760) - -
	-15,170 -40,932 0 -56,102 8,560 67,638 0 76,198 - - 2,276 2,276 - - 5,199 5,199
	-15,170 -40,932 2,276 -53,826 8,560 67,638 5,199 81,397 310,496 195,179 32,965 538,640 301,936 127,541 27,766 457,243
	295,326 154,247 35,241 484,814 310,496 195,179 32,965 538,640

Statement of Total Recognised Gains and Losses

There were no recognised gains or losses for 2020 or 2019 other than those included in the Statement of Financial Activities

2020 Annual Report

Page 9

Statement of Financial Activities for Notes to the Financial Statements for Statement of Financial Activities for the year ended 31 December 2017 the year ended 31 December 2017 the year ended 31 December 2020

The Parochial Church Council of St Peter & St Mary, Stowmarket

Balance Sheet as at 31 December 2020

Notes Fixed Assets Tangible assets Investments Total Fixed Assets 8 Current Assets Stock Debtors 9 Short term deposits Cash at bank and in hand Total Current Assets Liabilities Creditors: amounts falling due within one year 10 Net Current Assets Net Assets The Funds of the Charity 11 Unrestricted Restricted Endowment Total Charity Funds 12	2020 2019 £ £ £ £ 230,826 231,856 35,241 32,965 266,067 264,821 1,007 999 19,888 47,391 177,654 176,614 38,206 69,495 236,755 294,499 18,008 20,680 218,747 273,819 484,814 538,640 295,326 310,496 154,247 195,179 35,241 32,965 484,814 538,640

Authorised by the Parochial Church Council on 22nd March 2021 and signed on its behalf by:

2020 Annual Report

Page 10

The Parochial Church Council of St Peter & St Mary, Stowmarket

Notes to the Financial Statements for the year ended 31 December 2020

1. Accounting Policies

a) Basis of Preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost of transaction value unless otherwise stated in the relevant note(s) to these accounts.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) as updated on 2 February 2016 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and updated February 2016 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

b) Fund Accounting

The General Fund represents funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the Charity. Some of the other funds are similarly unrestricted, some are designated, and some are restricted. Designated funds are those that have been earmarked for a purpose but could still be used for general purposes if the PCC decided to do so. Restricted funds may only be used for the purpose for which they are given. The purpose of any designated and restricted funds is included within note 12. The PCC does not invest separately for each fund and interest is apportioned.

c) Income

All income is recognised once the charity has entitlement to the income and there is sufficient certainty of receipt so that it is probable that the income will be received, and the amount of income receivable can be measured reliably. Planned giving, collection and donations are recognised when received. Income Tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its receipt by the PCC is reasonably certain.

d) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. The Parish Share was paid in full during the year.

e) Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

f) Fixed Assets

Consecrated and beneficed property is excluded from the accounts in accordance with the Charities Act 2011.

Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory, which can be inspected by arrangement. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. All expenditure incurred in the year on consecrated or beneficed buildings is written off.

No cost information is available for St Peter's Hall or St Mary's Hall. Both appear in the financial statements at their insurance valuations in 1997 when they were first included. No depreciation has been provided as the buildings have long lives and the residual values are considered to be higher than the book values. The cost of alterations to provide and improve an outside play area has been capitalised and is being depreciated over10 years.

Investments are valued at market value at 31 December 2020.

Equipment is depreciated on a straight-line basis over 5 to 10 years according to its expected useful life. Items such as the silverware and handbells are not depreciated as they are expected to retain their value.

g) Current Assets

Amounts owing to the PCC at 31 December 2020 in respect of fees, rents or other income are shown as debtors less any provision for amounts that may prove uncollectable.

Stock of saleable items, where material, is valued at the lower of cost and net realisable value.

Short-term deposits are defined as balances held on deposit with CAF Bank and the Central Board of Finance Church of England Deposit Fund.

2020 Annual Report

Page 11

The Parochial Church Council of St Peter & St Mary, Stowmarket

2(a). Income (2020) Donations and Legacies Planned Giving Gift Aid Donations Income Tax recoverable Other Planned Giving Open Collections Donations Stowmarket Church Charity Listed Places of Worship Scheme Grants Other Trading Activities Fund Raising Events Income Tax Recoverable Investments Interest Charitable Activities St Peter and St Mary's Pre-School Church Rent Church Hall Rents St Peter's St Mary's Café 52 Fees Other Miscellaneous Sales Total Income Notes 2(b). Income (2019) Donations and Legacies Planned Giving Gift Aid Donations Income Tax recoverable Other Planned Giving Open Collections Donations Stowmarket Church Charity Listed Places of Worship Scheme Grants Other Trading Activities Fund Raising Events Income Tax Recoverable Investments Interest Charitable Activities St Peter and St Mary's Pre-School Church Rent Church Hall Rents St Peter's St Mary's Café 52 Fees Other Miscellaneous Sales Total Income Pre-School Outside Play Area Notes*	Unrestricted Funds	Restricted Funds
	General Other Total Fund Funds Funds	Fabric Pre school Other POPA* Special Total Fund Funds Fund Collections Funds
	38,799 38,799 10,073 10,073 13,254 13,254 2,424 2,424 292 - 292 - 833 833 9,818 9,818	- - - - 8,160 2,165 1,765 12,090 15,000 15,000 9,142 9,142 1,590 38,990 40,580
	75,493 - 75,493	9,750 - 65,297 - 1,765 76,812
	- -	1,485 2,434 3,919 2,302 439 2,741
	- - -	3,787 - 2,873 - - 6,660
	32 1,183 1,215	93 172 265
	32 1,183 1,215	93 - 172 - - 265
	- 374 374 1,087 1,087 1,971 1,971 336 336 1,451 1,451	61,395 61,395 - - - - 30 30
	5,219 - 5,219	- 61,395 30 - - 61,425
	34 34 34 - 34	- -
		- - - - - -
	80,778 1,183 81,961	13,630 61,395 68,372 - 1,765 145,162
	13 16 14 15 16 17
	Unrestricted Funds	Restricted Funds
	General Other Total Fund Funds Funds	Fabric Pre school Other POPA* Special Total Fund Funds Fund Collections Funds
	41,286 41,286 11,483 11,483 14,402 14,402 6,633 6,633 390 6,000 6,390 - 423 423 -	- - - - 1,069 4,291 4,576 9,936 22,000 22,000 6,226 6,226 1,250 53,550 54,800
	74,617 6,000 80,617	2,319 - 86,067 - 4,576 92,962
	- -	11,497 3,569 15,066 1,044 469 1,513
	- - -	12,541 - 4,038 - - 16,579
	43 1,300 1,343	164 307 471
	43 1,300 1,343	164 - 307 - - 471
	- 803 803 5,922 5,922 7,130 7,130 1,009 1,009 2,789 2,789	72,409 72,409 - - - - 60 60
	17,653 - 17,653	- 72,409 60 - - 72,469
	240 240 240 - 240	- -
		- - - - - -
	92,553 7,300 99,853	15,024 72,409 90,472 - 4,576 182,481
	13 16 14 15 16 17

2020 Annual Report

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The Parochial Church Council of St Peter & St Mary, Stowmarket

Unrestricted Funds	Unrestricted Funds	Restricted Funds
General Other Total Fund Funds Funds		Fabric Pre school Other POPA* Special Total Fund Funds Fund Collections Funds
- - 1,000 1,000 500 500		- - - 1,865 1,865
1,500 - 1,500 73,513 73,513 2,182 2,182 5,749 5,749 9,447 9,447 4,031 4,031 - - 619 619 - 1,766 83 1,849 3,790 3,790 4,596 4,596 6,554 6,554 1,775 1,775 262 262		- - - - 1,865 1,865 - - 89,758 89,758 - 1,479 1,479 - - 63,285 63,285 943 415 1,358 - 8,480 8,480 - - -
111,994 3,873 115,867		8,480 63,285 92,180 415 1,865 166,225
94 94 -		- 1,039 1,039
94 - 94		1,039 - - - - 1,039
112,088 3,873 115,961		9,519 63,285 92,180 415 1,865 167,264
13 14 15 16 12 17
Unrestricted Funds		Restricted Funds
General Other Fund Funds	Total Funds	Fabric Pre school Other POPA* Special Total Fund Funds Fund Collections Funds
- 1,000 500	- 1,000 500	- 2,113 2,113 2,463 2,463
1,500 - 72,892 2,644 3,445 12,230 4,794 12 1,073 2,447 83 6,966 8,903 1,706 239	1,500 72,892 2,644 3,445 12,230 4,794 12 1,073 - 2,530 6,966 8,903 1,706 239	- - - - 4,576 4,576 - - 6,226 6,226 - 1,063 1,063 - - 61,701 61,701 730 414 1,144 10,000 10,000 - 9 9 -
118,851 83	118,934	10,009 61,701 8,019 414 4,576 84,719
119	119 -	- 2,364 2,364
119 -	119	2,364 - - - - 2,364
118,970 83	119,053	12,373 61,701 8,019 414 4,576 87,083
13	14 15 16 12 17

2020 Annual Report

Page 13

The Parochial Church Council of St Peter & St Mary, Stowmarket

4.

Staff Costs The staff costs were: Wages and Salaries Employer's National Insurance	2020 2019 £ £ 62,706 61,148 - -
	62,706 61,148

During the year the PCC employed 8 Pre-School staff and 2 cleaners, all of whom were part time.

No member of staff received remuneration of more than £60,000. The PCC did not pay remuneration to any of the Trustees in the year; expenses totalling £2,155 (2019 - £2,641) were re-imbursed to 1 Trustee (2019-1)

5. Transfers Between Funds

Church Charity Donations Miss H Finbow legacy Pre-School Verger Fund	General Other Funds Total Funds Fund Unrestricted Unrestricted £ £ £ 15,000 - 15,000 (100) - (100) 10,000 (10,000) - 3,900 - 3,900 30 - 30	Pre-School Other Funds Total Funds Restricted Restricted £ £ £ - (15,000) (15,000) - 100 100 - - (3,900) - (3,900) - (30) (30)
	28,830 (10,000) 18,830	(3,900) (14,930) (18,830)

Church Charity: The £15,000 transfer relates to Church Charity funds which can be allocated to the General Fund for the furtherance of the Charity's aims at the discretion of the PCC. Donations This transfer is needed to offset an accrued donation which was not received. Miss H Finbow legacy See note 16 Pre-School: The transfer from Pre-School to the General Fund is the amount payable to the PCC in respect of the rental of St Mary's Hall for the year. Verger Fund: This transfer relates to waived Verger fees.

6. Movement in Funds for the Year

Movement in Funds for the Year
The movement in funds for the year is stated after charging:	2020	2019
	£	£
Independent Examination fee	262	239
Additional payments to examiner for preparation of Financial Statements	716	716
Depreciation of Owned Assets	3,207	6,186

7. Related Party Transactions

There were no related party transactions during the year ended 31/12/2020.

Some of the Trustees of the Stowmarket Church Charity are also members of the PCC. During the year £15,000 (2019 - 22,000) was paid by the Church Charity to the church.

During the year donations of £16,322 (2019 - £19,167) were received by the Church from 11 (2019-10) Trustees.

8(a) Tangible Fixed Assets

Tangible Fixed Assets Cost Balance at 1 January 2020 Additions Disposals Balance at 31 December 2020 Depreciation Balance at 1 January 2020 Charge for the year Disposals Balance at 31 December 2020 Net Book Value At 31 December 2020 At 1 January 2020	Functional Total equipment £ £ £ 221,943 69,217 291,160 - 2,177 2,177 - - - Freehold land and buildings
	221,943 71,394 293,337 25,287 34,017 59,304 415 2,792 3,207 - - -
	25,702 36,809 62,511 196,241 34,585 230,826
	196,656 35,200 231,856

2020 Annual Report

Page 14

The Parochial Church Council of St Peter & St Mary, Stowmarket

2020 2019 Cost Market Cost Market Value Value £ £ £ £ 14,484 35,241 14,484 32,965	2020 2019 Cost Market Cost Market Value Value £ £ £ £ 14,484 35,241 14,484 32,965	2020 2019 Cost Market Cost Market Value Value £ £ £ £ 14,484 35,241 14,484 32,965
Unrestricted Funds 225,703 - 69,623	32,965 27,766 2,276 5,199 35,241 32,965 2020 2019 £ £ 17,341 45,405 2,547 1,986 19,888 47,391 2020 2019 £ £ 10,508 13,269 7,500 7,411 18,008 20,680 Restricted Endowment Total Funds Funds Funds 5,123 - 230,826 - 35,241 35,241 149,124 - 218,747
	Restricted Funds 5,123 - 149,124
		19,888 47,391
		2020 2019 £ £ 10,508 13,269 7,500 7,411
		18,008 20,680
		Endowment Total Funds Funds - 230,826 35,241 35,241 - 218,747
295,326 154,247 35,241 484,814

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The Parochial Church Council of St Peter & St Mary, Stowmarket

12. Fund analysis and Descriptions

Notes Unrestricted Funds General Fund 13 Other Funds 16 Capital Fund Restricted Funds Fabric Funds 14 St Peter and St Mary's Pre-School 15 Pre-School Outside Play Area Other Funds 16 Sarginson Memorial Capital Fund Special Collections 17 Endowment Fund Finbow Trust 8(b) Total Funds	Brought Income Expenditure Transfers Gain on Carried Forward Investment Forward £ £ £ £ £ £ 30,635 80,778 112,088 28,830 - 28,155 60,822 1,183 3,873 (10,000) - 48,132 219,039 - - - - 219,039
	310,496 81,961 115,961 18,830 - 295,326 48,488 13,630 9,519 - - 52,599 30,240 61,395 63,285 (3,900) - 24,450 1,382 - 415 - - 967 114,669 68,372 92,180 (15,030) - 75,831 400 - - - - 400 - 1,765 1,865 100 - -
	195,179 145,162 167,264 (18,830) - 154,247 32,965 - - - 2,276 35,241
	538,640 227,123 283,225 - 2,276 484,814

General Fund (note 13)

The General Fund represents funds which are available for the application and general purpose of the PCC in furtherance of its charitable objectives.

Capital Fund

The Capital Fund was created in 1997 when assets were first shown in the accounts.

Fabric Fund (note 14)

This fund includes funds designated for the restoration of the church building and includes money restricted by donors. Some donations are made for specific projects and are thus further restricted. The objects of the 3Rs Fund are a programme of restoration, renovation and reordering of all the church buildings as required.

St Peter and St Mary's Pre-School (note 15)

The Pre-school raises funds, partly by charging fees for attendance, but also receives funding from the Department for Education and Employment. From this income it meets its staff and other operating costs and purchases play equipment, which is normally written off in the year of purchase. Within the balance carried forward is £17,000 ring-fenced for redundancy pay should it be required.

Pre-school Outside Play Area

This fund represents the fixed assets of the outside play area of the Pre-school.

Other Funds (note 16)

Other funds relates to other various items which are administered by the charity. These are reviewed in detail per note 16.

Sarginson Memorial Capital Fund

This fund provides income for the purchase of flowers for the decoration of the Sarginson Memorial.

Special Collections

Special collections relates to amounts collected on behalf of other charities. The total of items received is paid over to the respective charity, as intended by the donor.

Endowment

The endowment amount relates to a legacy received from Miss H Finbow, the capital of which is held by the Diocese.

Transfers which have occurred during the year above have been detailed further in Note 5 of the financial statements.

2020 Annual Report

Page 16

The Parochial Church Council of St Peter & St Mary, Stowmarket

General Fund 13.	2020	2019	*Budget* *2020*
Income Income from members and visitors Planned Giving: 4,120 Gift Aid Donations 4,101 Income Tax recoverable 4,121 Charities Aid and Other Planned Giving 4,122 Open Collections 4,123 Donations Total Income from members and visitors Income from Parochial Activities 4306 Rent Church 4302 Rent St Peter's Hall 4303 Rent St Mary's Hall (excl.Pre-School) 4301 Cafe 52 Income 4300 Fees Weddings and Funerals 4308 Miscellaneous Income Total Income from Parochial Activities Listed Places of Worship Scheme VAT refund Grants Stowmarket Town Council Coronavirus Job Retention Scheme Grants Other grants 4107 Bank Interest Total Income	£ #REF! 38,799 10,073 13,254 2,424 292	£ 41,286 11,483 14,402 6,633 390	£ 41,000 11,400 14,750 6,800 400
	64,842 374 1,087 1,971 336 1,451 34	74,194 803 5,922 7,130 1,009 2,789 240	*74,350* 900 6,100 7,200 1,200 3,000 250
	5,253 833 1,000 1,418 7,400 32	17,893 423 - - - 43	*18,650* 500 - - 6,000 10
	*80,778*	*92,553*	*99,510*
Expenditure Donations 6560 6561 Activities directly relating to the work of the Church 6500 Ministry Parish Share: 6510 Expenses paid to Vicar and Assistants 6450 Church Maintenance Church Property Expenses Parochial Expenses Weddings and Funerals Administration 6317 Independent Examination 6312 Stewardship Envelopes Cafe 52 St Peter's Hall - Property Expenses St Mary's Hall - Property Expenses Total Expenditure	#REF! 1,500 73,513 2,182 5,749 9,447 5,797 - 1,775 262 94 619 4,596 6,554	1,500 72,892 2,644 3,445 12,230 7,241 12 1,706 239 119 1,073 6,966 8,903	1,500 73,513 2,700 4,000 12,550 7,400 35 1,500 250 90 1,100 7,150 9,150
	112,088	118,970	*120,938*
Deficit for year before transfers Transfer from Special Funds - Church Charity Transfer from Miss H Finbow legacy Rent paid by Pre-School to PCC Transfer from Verger Fund Transfer to donations Transfer to Legacies Fund Surplus (deficit) for year Surplus brought forward Balance on General Fund	(31,310) 15,000 10,000 3,900 30 (100)	(26,417) 22,000 - 5,700 60 - (399)	*(21,428)* 17,000 3,900
	(2,480) 30,635	944 29,691	*(528)* 30,635
	28,155	30,635	*30,107*

2020 Annual Report

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The Parochial Church Council of St Peter & St Mary, Stowmarket

14. Fabric Funds	Balance January 2020	Balance January 2020	Received 2020 and transfers in	Received 2020 and transfers in	Paid 2020 and transfers out	Paid 2020 and transfers out	Bala Decemb	nce er 2020
3Rs - Restoration, Renovation and Reordering Donations Gift Aided Donations Boot Sales Christmas Tree Festival Dons Christmas Tree Festival (Gift Aided) Christmas Tree Festival Other Other Fundraising Income tax recoverable Interest Gift Aided Fundraising Grant Stowmarket Town Council Other Grants Christmas Tree Festival Card Dons Christmas Tree Festival Card Dons GA West End Project Bank charges Chancels Fund Total Fabric Funds	Unrestricted £	Restricted £ 47,412 1,076	Unrestricted £	Restricted £ 150 8,010 106 674 10 183 327 2,302 93 - 480 1,110 165 20 -	Unrestricted £	Restricted £ 1,047 (8) 8,480 -	Unrestricted £	Restricted £
								51,523 1,076
	-	48,488	-	13,630	-	9,519	-	52,599


15. St Peter and St Mary's Pre-School							2020	2019
							Restricted £	Restricted £
Balances brought forward Pre-school General Fund Redundancy Fund
							15,840 14,400	13,911 12,000
							30,240	25,911
Income Fees Funding from Department for Education and Employment Zoo trip Polo shirts and Sweatshirts Other Total income							1,407 59,784 - 204	2,188 69,514 437 270 -
							61,395	72,409
Expenditure Staff Refreshments Equipment Administration PLA subs and insurance Outside Area Roof Renewal Nursery World T Shirts and Uniforms Ofsted Gifts and Farewells Laptop computer Tapestry System Zoo trip Playworld Training Sundry Other Transfer to POPA fund (Playhouse) Rent paid to PCC Transfer to Redundancy Fund Total Expenditure							58,306 444 1,517 760 678 - 74 254 50 42 255 - - - 906 - -	56,539 569 1,319 566 669 - 74 457 50 60 - - 753 122 490 24 9
							63,285 0 3,900 2,600	61,701 679 5,700 2,400
							69,785	70,480
Surplus (Deficit) for year							(8,390)	1,929
Balances carried forward Pre-school General Fund RedundancyFund							7,450 17,000	15,840 14,400
Total Pre-school funds							24,450	30,240

2020 Annual Report

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The Parochial Church Council of St Peter & St Mary, Stowmarket

16. Other Funds	Balance January 2020	Balance January 2020	Received 2020 and transfers in	Received 2020 and transfers in	Paid 2020 and transfers out	Paid 2020 and transfers out	Balance December 2020	Balance December 2020
Interest Transferred to General Fund Legacies Miss H Finbow Transferred to General Fund Interest Ms J McLeod Interest Mrs M Cawte Interest Ms E Cobbold Interest Other Adamson Legacy Seeley Legacy Anonymous Gift CCTV Fund Roof Alarm Fund Defibrillator Fund Greensward Fund Audio Visual (see note 22) Sarginson Memorial Fund Interest Bell Fund Income Expenditure Bells Restoration Fund (see note 23) Oldfield Fund Legacy: lectern Legacy: balance Youth BBGA (see note 24) Verger Fund Waived fees Total Other Funds Stowmarket Church Charity	Unrestricted £ 12,208 5,023 33,398 503	Restricted £ -	Unrestricted £ 989 57 136	Restricted £ 15,000 -	Unrestricted £ 10,000	Restricted £ 15,000	Unrestricted £ 3,197 5,080 33,534 503 2,000 1,399 1,210 144 250 498 316	Restricted £ - - 1,145 650 5 17,733 175 194 53,778 - - 2,151 -
	2,000 1,399 5,000				3,790
	144 250 581 316	385 1,375 760 5 18,171 174 194 92,864 741		827 1 50,672 1,842 30	83	385 230 110 1,265 89,758 432 30
	60,822	114,669	1,183	68,372	13,873	107,210	48,132	75,831

Stowmarket Church Charity: This charity provides funds for the use of the PCC as described in the Trust Deed.

Legacy Miss H Finbow: This is an Endowment Fund, the income from which is unrestricted. The Capital is held by the Diocese.

CCTV: This is a receipt for the use of the church tower to mount a relay for the town council TV system. The money was used to provide electric winding for the tower clock, the manual winding of which was the responsibility of the Town Council. Depreciation of the winding equipment is charged to the fund.

Sarginson Memorial Fund: This fund is restricted to the purchase of flowers for the decoration of the Sarginson Memorial.

Bell Fund: The church receives fees from wedding couples and others who wish the bells to be rung, and normally uses the money to pay bell ringers and to finance minor repairs to the bells.

Roof Alarm Fund: The roof alarm was part-funded by a grant from the Suffolk Historic Churches Trust. Depreciation of the grant-funded portion is charged to this fund.

Defibrillator Fund: A grant was provided by Mid-Suffolk District Council for purchase of a defibrillator and associated training and/or signage costs.

Bells Restoration Fund: The Bells Restoration Fund has been established to enable the restoration and enhancement of the bells and bell frame in the church tower.

Oldfield: A donation was received from the estate of the late Edwin Oldfield. A memorial lecturn was purchased, the depreciation of which is charged to this fund.

Verger: This fund contains fees received as agent for 3rd parties providing service at weddings and funerals. Entries here represent waived fees.

Other funds are self-explanatory.

2020 Annual Report

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The Parochial Church Council of St Peter & St Mary, Stowmarket

17. Special Collections and Donations	17. Special Collections and Donations	17. Special Collections and Donations	17. Special Collections and Donations		18. PropertyExpenses
Food Bank Royal British Legion Town Mayor's Charities RAFA Leprosy Mission Tear Fund Gideons UCB Kagera RSVP Accrued donation not receive	Special Collections (Restricted)		from PCC Funds	from PCC Funds	Church Gas Electricity Insurance Other St Peter's Hall Gas Electricity Insurance Cleaning Major repairs Other St Mary's Hall Electricity Insurance Cleaning Internet Major repairs Other	2020	2019
	Rec'd 2020 £ 1,765 0 0 0 0 0 0 0 0 0 d	Paid 2020 £ 1,765 0 0 0 0 0 0 0 0 0 100	Paid 2020 £ 500 0 0 0 0 0 0 500 500 0	Paid 2019 £ 500 0 0 0 0 0 0 500 500 0		£ 2,761 1,616 4,706 364	£ 4,267 2,087 4,690 1,186
							12,230
						9,447
						356 482 - 1,866 - 1,892	571 703 - 1,984 2,489 1,219
						4,596	6,966
						3,237 2,534 18 765	3,458 - 2,625 194 1,770 856
	1,765	1,865	1,500	1,500		6,554	8,903

19. Parochial Expenses			20. Café 52 Expenses
Depreciation Mission and Evangelism Expenses of Church Services Literature and Books Music Stationery Subscriptions Bank Charges Other	2020	2019	Electricity Insurance Cleaning Repairs Other	2020	2019
	£ 1,766	£ 2,447 - 945 81 897 1,755 163 65 888		£ 340 - - - 279	£ 445 109 - - 519
	40
	632 87 972 853 95 61 1,291


				619	1,073

	5,797	7,241

21. Administration
Accountancy Internet Telephone Other	2020	2019
	£ 750 -	£ 750 - 956 -
	1,025
	-
	1,775	1,706

2020 Annual Report

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The Parochial Church Council of St Peter & St Mary, Stowmarket

22. Audio Visual Fund	Balance January 2020	Balance January 2020	Received 2020 and transfers in	Received 2020 and transfers in	Paid 2020 and transfers out	Paid 2020 and transfers out	Balance December 2020	Balance December 2020
AV equipment Depreciation Balance Expenditure Grant Income Interest Total	Unrestricted £	Restricted £ 2,177 15,994	Unrestricted £	Restricted £ 750 77	Unrestricted £	Restricted £ 218 1,047	Unrestricted £	Restricted £ 1,959 15,774
							-	17,733

23. Bells Restoration Fund	Balance January 2020		Received 2020 and transfers in		Paid 2020 and transfers out		Balance December 2020
Donations Donations Gift Aided Fundraising Income Listed Place of Worship VAT Grant Other Grants Interest Gift Aid Tax Expenditure in year	Unrestricted £ 250	Restricted £ 92,864	Unrestricted £	Restricted £ 222 1,755 781 9,142 38,240 94 439	Unrestricted £	Restricted £ 89,758	Unrestricted £ 250	Restricted £ 53,778
24. Boys Brigade and Girls Association Income Expense Income Expense £ £ £ £ Subscriptions 46 334 Donations 1,654 Fundraising 142 Equipment 70 393 Activities 1 71 Events 118 33 Capitation 188 157 Other 55 40 89 Totals 1,842 432 374 743 2020 2019
24. Boys Brigade and Girls Association
Subscriptions Donations Fundraising Equipment Activities Events Capitation Other Totals		2020		2019
		Income	Expense	Income	Expense
		£	£	£	£
		46	70 1 118 188 55		393 71 33 157 89
				334 40
		1,654
		142
		1,842	432	374
					743

2020 Annual Report

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