2021-12-31-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 2021

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

2021 Annual Report

Page 1

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

Trustee’s Report for the Year ended 31st December 2021

Trustees’ Report for the year ended 31 December 20 21

The Trustees, who are the members of the Parochial Church Council, submit their Annual Report and Financial Statements for the year ended 31st December 2021. 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

In 2021 we have been picking up the pieces and trying to get back into some regular pattern of Church life whilst still coping with a global pandemic for a second year. We were grateful that our Church building was allowed to open for worship and for some of the time we also opened midweek for private prayer.

We maintain our vision 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. This has been a challenge as many of our Church members have been reluctant to risk meeting together face to face.

As a Church our Strategic Plan is to 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’.

2021 Annual Report

Page 2

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

Trustee’s Report for the Year ended 31st December 2021

Worship and prayer are vital for the life of the Church and since the first lockdown we formed a pattern of gathering as one congregation on a Sunday morning, meeting at 10am. At the end of January PCC decided that Sunday Morning Worship would be online and this continued until Easter when we opened again for face to face meetin gs. As restrictions started to be lifted we introduced ‘zoning’ in Church with a designated area where the wearing of facemasks and social distancing remained compulsory.

The Register of Church Attendance has been kept up to date but the figures do not reflect the number of people that we stayed in contact with, in 2021, so they have not been included in this report in full. At the Annual Parochial Church Meeting in April 2021, the Electoral Roll listed 120 (115 in 2020) members. Dan Sparks and Michelle Sparks were elected as Churchwardens and they and their children Joshua, Oliver and Isobel have been an invaluable help to the Church.

Over the year the Church was involved with at least 91 (138) acts of worship of which 17 (44) included Holy Communion. There were 29 (30) funerals linked to the parish (of which 4 (5) were in Church), and we said goodbye to Pat Montgomery and David Last. We were unable to go into Care Homes to take Services. There were 5 baptisms and no weddings.

Important work was begun to replace the bell frame in the Church Tower, repair the existing bells and add 3 new ones but Covid meant that the target completion date was not met.

Progress of the Hospitality Area with Cafe, Crèche and Welcome Space at the West End of the Church began in June and had almost reached completion by the end of the year. Further improvements include screens that have been attached to the pillars in Church to upgrade our audio/visual provision.

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 from home when not permitted to come onto the Church premises.

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

Our children's work continues with Little Fishes meeting either online or in the Church Hall and our Boys' Brigade and Girls Association Company managed to meet again on Tuesday evenings. Messy Church met on the 4th Sunday Morning of the month when permitted

Under the first Lockdown, we arranged the Church Members into Geographical Groups of around 10 people living close to each other and this has continued as our main means of pastoral support. 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 help to those unable to leave their homes.

The Clergy, Readers and Preachers Team continues to meet regularly online and one of our retired Clergy Rev’d Ian Hooper was able to resume activities in the final quarter of the year although Rev’d Raymond Gilbert did not due to health and for safety reasons.

Most of the 7 House Groups have managed to meet in some form or another and, under the supervision of Heather Bunting, areas of study included the book ‘Unleashed’ by Gavin and Anne Calver, the Pete Greig Prayer Course and an Advent Study put together by Heather.

2021 Annual Report

Page 3

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

Trustee’s Report for the Year ended 31st December 2021

The Christmas Tree Festival went ahead, opening 3 days a week. The lights were switched on by the famous author Anthony Horowitz. Charlotte Whyte has taken on the role of Festival Co-coordinator and with the help of her team, the Town Festival ran in partnership with the Town Council and the Library, Red Gables and the Walnut Tree pub.

I would like to thank all who have helped in the running of the Church this year, especially the Churchwardens and Deputy-Wardens. Although the activities based around the Church have been limited due to legal restrictions, we always aim to improve ways in which we are inclusive as an Open Church and offer an Open Invitation to all in the service of Jesus Christ. It hasn’t been easy in 2021 but we have embraced the new technologies that are now available, to reach out in fresh and different ways. We use Facebook and Twitter and our website to publicize our activities and our YouTube channel allows us to Livestream our Sunday Morning Services, which are also available afterwards. Our thanks go to Martin Gray who set up 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

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2021 Annual Report

Page 4

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

Trustee’s Report for the Year ended 31st December 2021

Financial Review

Total incoming resources in the year amounted to £338,319 (2020: £227,123), with total expenditure incurred at £330,984 (2020: £283,225). Overall the net movement in funds, when taking account of investments gains, was a net inflow of £12,402 (2020: net outflow of £53,826). The net assets of the PCC at the balance sheet date were £497,216, compared with £484,814 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 current investment is the Finbow Endowment Fund held and administered by the Diocese. A new Long Term Investment fund has been created with some of the proceeds of the sale of Cafe52, although this was still held in cash at 31[st] December 2021.

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 £25,894. This is just under three months’ wo rth of expenditure in this fund. The Trustees will continue to monitor this balance in 2022 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.

2021 Annual Report

Page 5

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

Trustee’s Report for the Year ended 31st December 2021

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:

Revd Michael Eden (Chair) Charlotte White (Vice Chair from April 2021) Daniel Sparks (Churchwarden) Michelle Sparks (Churchwarden) (Appointed April 2021) Wesley Gerald Barnett (Assistant Churchwarden) Martin Gray (Deputy Churchwarden and Vice Chair) (Term ended April 2021) – Marion Gray (Churchwarden term ended April 2021), (Deanery Synod Representative) Revd Richard Stretch (Curate) Matt Levett (Deanery Synod Representative) Gloria Gord Charlotte Whyte Michael Munson Sheila Taylor (appointed April 2021) Judy Eden (Term ended April 2021) Tony Ingham (Term ended April 2021 Zoe Davies (Resigned September 2021) Eugene Milne (Resigned October 2021) Tony Leigh-Pollitt (Appointed April 2021, resigned October 2021)

Administration of the Charity

The Charity is administered by the Board of Trustees, which is the Parochial Church Council. The Trustees meet 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.

2021 Annual Report

Page 6

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

Trustee’s Report for the Year ended 31st December 2021

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 continuously reviewed and appropriate measures were put in place.

Trustees’ Responsibilities

The Charity Trustees are responsible for preparing a T rustees’ 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 C harity’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 28[th] March 2022 and signed on their behalf by:

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Rev’d Michael Eden – Chairman

2021 Annual Report

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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 2021, which are set out on pages 9 to 21

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 lim ited 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.

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Signed ………………………………………………………………
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Date …………………………………………

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

2021 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 2021

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

Statement of Financial Activities for the year ended 31 December 2021

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	2021 2020 Unrestricted Restricted Endowment Total Unrestricted Restricted Endowment Total Funds Funds Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ £ £ 78,025 108,517 0 186,542 75,493 76,812 0 152,305 0 5,378 0 5,378 0 6,660 0 6,660 1,059 32 0 1,091 1,215 265 0 1,480 7,603 60,969 0 68,572 5,219 61,425 0 66,644 10 76,726 0 76,736 34 0 0 34
	86,697 251,622 0 338,319 81,961 145,162 0 227,123
	107,145 222,733 0 329,878 115,867 166,225 0 282,092 96 1,010 0 1,106 94 1,039 0 1,133
	107,241 223,743 0 330,984 115,961 167,264 0 283,225
	(20,544) 27,879 - 7,335 (34,000) (22,102) - (56,102) 20,000 (20,000) - - 18,830 (18,830) - -
	-544 7,879 0 7,335 -15,170 -40,932 0 -56,102 - - 5,067 5,067 - - 2,276 2,276
	-544 7,879 5,067 12,402 -15,170 -40,932 2,276 -53,826 295,326 154,247 35,241 484,814 310,496 195,179 32,965 538,640
	294,782 162,126 40,308 497,216 295,326 154,247 35,241 484,814

Statement of Total Recognised Gains and Losses

There were no recognised gains or losses for 2021 or 2020 other than those included in the Statement of Financial Activities

2021 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 2021

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

Balance Sheet as at 31 December 2021

			2021		2020
	Notes	£		£	£	£
Fixed Assets
Tangible assets				218,629		230,826
Investments				40,308		35,241
Total Fixed Assets	8			258,937		266,067
Current Assets
Stock		1,007			1,007
Debtors	9	56,674			19,888
Short term deposits		136,545			177,654
Cash at bank and in hand		58,878			38,206
Total Current Assets		253,104			236,755
Liabilities
Creditors: amounts falling due
within one year	10	14,825			18,008
Net Current Assets				238,279		218,747
Net Assets				497,216		484,814
The Funds of the Charity	11
Unrestricted				294,782		295,326
Restricted				162,126		154,247
Endowment				40,308		35,241
Total Charity Funds	12			497,216		484,814
Authorised by the Parochial Church Council	on 28th	March	2022 and signed		on its behalf by:
………………………………………………………….		……………………………………………………………..
Rev'd M Eden (Chairman)		(Churchwarden)

2021 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 h ave 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 Repo rting 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 2021.

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 2021 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.

2021 Annual Report

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

Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted Funds	Restricted Funds	Restricted Funds	Restricted Funds	Restricted Funds	Restricted Funds	Restricted Funds	Restricted Funds
General Other Total Fund Funds Funds				Fabric Pre school Other POPA* Special Long Term Total Fund Funds Fund Collections Investment Funds
39,273 39,273 10,215 10,215 14,015 14,015 1,267 1,267 2,074 - 2,074 - 289 289 4,875 1,000 5,875 5,017 5,017				- - - - 5,345 804 1,481 7,630 30,000 30,000 22,838 - 22,838 - 48,049 - 48,049
77,025 1,000 78,025				76,232 - 30,804 - 1,481 108,517
- -				3,939 - 3,939 1,439 - 1,439
- - -				5,378 - - - - 5,378
9 1,050 1,059				11 21 32
9 1,050 1,059				11 - 21 - - 32
- 414 414 2,496 2,496 2,747 2,747 - - 1,946 1,946				60,969 60,969 - - - - - -
7,603 - 7,603				- 60,969 - - - 60,969
- 10 10 10 - 10				76,726 76,726 -
				- - - - - 76,726 76,726
84,647		2,050	86,697	81,621		60,969	30,825	-	1,481	76,726	251,622
	13 16 14 15 16 17 25
	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

*Pre-School Outside Play Area

2021 Annual Report

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

Unrestricted	Unrestricted	Funds	Funds	Restricted Funds	Restricted Funds
General Other Fund Funds		Total Funds		Fabric Pre school Other POPA* Special Long Term Total Fund Funds Fund Collections Investment Funds
- 1,000 500		- 1,000 500		- - - 1,481 1,481
1,500 - 72,187 2,645 1,738 250 9,672 3,367 - 390 1,766 83 - 3,923 7,253 2,066 305		1,500 72,187 2,645 1,988 9,672 3,367 - 390 - 1,849 - 3,923 7,253 - 2,066 305		- - - - 1,481 - 1,481 - - 6,553 6,553 3,101 3,101 2,163 2,163 - - 59,116 59,116 477 2,158 209 2,844 - - - - 147,472 147,472 3 3 -
106,812 333		107,145		147,952 59,116 10,874 209 1,481 3,101 222,733
96		96 -		- 1,010 1,010
96 -		96		1,010 - - - - - 1,010
106,908 333		107,241		148,962 59,116 10,874 209 1,481 3,101 223,743
	13 16	14 15 16 12 17 25
	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		- - - 1,865 1,865
	1,500 - 73,513 2,182 5,749 9,447 4,031 - 619 1,766 83 3,790 4,596 6,554 1,775 262		1,500 73,513 2,182 5,749 9,447 4,031 - 619 - 1,849 3,790 4,596 6,554 1,775 262		- - - - 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 16		14 15 16 12 17

*Pre-School Outside Play Area

2021 Annual Report

Page 13

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

4. Staff Costs


Staff Costs The staff costs were: Wages and Salaries Employer's National Insurance	2021 2020 £ £ 60,487 62,706 0 0
	60,487 62,706

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 £2,645 (2020 - £2,155) wer reimbursed to 1 Trustee (2020 - 1).

5. Transfers Between Funds (2021)

Church Charity	General Other Funds Total Funds Fund Unrestricted Unrestricted £ £ £ 20,000 - 20,000	Pre-School Other Funds Total Funds Restricted Restricted £ £ £ - (20,000) (20,000)
	20,000 - 20,000	- (20,000) (20,000)

Church Charity: The £20,000 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.

6. Movement in Funds for the Year

Movement in Funds for the Year
The movement in funds for the year is stated after charging:	2021	2020
	£	£
Independent Examination fee	305	262
Additional payments to examiner for preparation of Financial Statements	831	750
Depreciation of Owned Assets	4,693	3,207

7. Related Party Transactions

There were no related party transactions during the year ended 31/12/2021.

Some of the Trustees of the Stowmarket Church Charity are also members of the PCC. During the year £30,000 (2020 - 15,000) was paid by the Church Charity to the church.

During the year donations of £15,674 (2020 - £16,322) were received by the Church from 7 (2020 - 11) Trustees.

8(a)

Tangible Fixed Assets

Tangible Fixed Assets Cost Balance at 1 January 2021 Additions Disposals Balance at 31 December 2021 Depreciation Balance at 1 January 2021 Charge for the year Disposals Balance at 31 December 2021 Net Book Value At 31 December 2021 At 1 January 2021	Freehold Functional Total land and equipment buildings £ £ £ 221,943 71,394 293,337 0 20,770 20,770 28,274 399 28,673
	193,669 91,765 285,434 25,702 36,809 62,511 209 4,484 4,693 0 399 399
	25,911 40,894 66,805 167,758 50,871 218,629
	196,241 34,585 230,826

2021 Annual Report

Page 14

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

______ 8(b). Fixed Assets Investments CBF Investment Fund (1,723.56 shares) Market Value at beginning of year Net Gain/(Loss) on Disposal/Revaluation Market Value at end of year 9. Debtors falling due within one year Prepayments and Accrued Income Other Debtors 10. Creditors falling due within one year Accruals and Deferred Income Creditors for Goods and Services 11 Analysis of Net Assets by Funds Tangible Fixed Assets Fixed Assets Investments Net Current Assets	__________ 2021 2020 Cost Market Cost Market Value Value £ £ £ £ 14,484 40,308 14,484 35,241
	35,241 32,965 5,067 2,276 40,308 35,241 2021 2020 £ £ 45,882 17,341 10,792 2,547 56,674 19,888 2021 2020 £ £ 9,847 10,508 4,978 7,500 14,825 18,008 Unrestricted Restricted Endowment Total Funds Funds Funds Funds 195,663 22,966 0 218,629 0 0 40,308 40,308 70,845 167,434 0 238,279
	266,508 190,400 40,308 497,216

______
8(b).
Fixed Assets Investments
CBF Investment Fund (1,723.56 shares)
Market Value at beginning of year
Net Gain/(Loss) on Disposal/Revaluation
Market Value at end of year
9.
Debtors falling due within one year
Prepayments and Accrued Income
Other Debtors
10.
Creditors falling due within one year
Accruals and Deferred Income
Creditors for Goods and Services
11
Analysis of Net Assets by Funds
Tangible Fixed Assets
Fixed Assets Investments
Net Current Assets

__________
2021
2020
Cost
Market
Cost
Market
Value
Value
£
£
£
£
14,484
40,308
14,484
35,241

35,241
32,965
5,067
2,276
40,308
35,241
2021
2020
£
£
45,882
17,341
10,792
2,547
56,674
19,888
2021
2020
£
£
9,847
10,508
4,978
7,500
14,825
18,008
Unrestricted
Restricted
Endowment
Total
Funds
Funds
Funds
Funds
195,663
22,966
0
218,629
0
0
40,308
40,308
70,845
167,434
0
238,279

266,508
190,400
40,308
497,216

General Fund (note 13)

2021 Annual Report

Page 15

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 Lomg Term Investment 25 Endowment Fund Finbow Trust 8(b) Total Funds	Brought Income Expenditure Transfers Gain on Carried Forward Investment Forward £ £ £ £ £ £ 28,155 84,647 106,908 20,000 - 25,894 48,132 2,050 333 - - 49,849 219,039 0 0 (28,274) - 190,765
	295,326 86,697 107,241 (8,274) - 266,508 52,599 81,621 148,962 48,001 - 33,259 24,450 60,969 59,116 - - 26,303 967 0 209 - - 758 75,831 30,825 10,874 (16,102) - 79,680 400 0 0 - - 400 0 1,481 1,481 - - 0 0 76,726 3,101 (23,625) 50,000
	154,247 251,622 223,743 8,274 0 190,400 35,241 0 0 - 5,067 40,308
	484,814 338,319 330,984 - 5,067 497,216

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 £17,600 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.

Long Term Investments

Initially holding the surplus from the Sale of Cafe52, this fund is held by the Diocese and invested primarily for income.

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.

2021 Annual Report

Page 16

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

13.	2021	2020	*Budget* *2021*
	£ 39,273 10,215 14,015 1,267 2,074	£ 38,799 10,073 13,254 2,424 292	£ 40,000 10,500 14,000 4,600 350
	66,844 414 2,496 2,747 - 1,946 10	64,842 374 1,087 1,971 336 1,451 34	*69,450* 630 3,600 4,600 760 2,200 140
	7,613 4,875 289 4,573 444 - 9	5,253 833 1,000 1,418 7,400 32	*11,930* 500
	*84,647*	*80,778*	*81,880*
Expenditure Donations Activities directly relating to the work of the Church Ministry Parish Share: Expenses paid to Vicar and Assistants Church Maintenance Church Property Expenses (note 18) Parochial Expenses (note 19) Weddings and Funerals Administration (note 21) Youth Work Independent Examination Stewardship Envelopes Cafe 52 (note 20) St Peter's Hall - Property Expenses (note 18) St Mary's Hall - Property Expenses (note 18) Total Expenditure	1,500 72,187 2,645 1,738 9,672 5,133 - 2,066 - 305 96 390 3,923 7,253	1,500 73,513 2,182 5,749 9,447 5,797 - 1,775 - 262 94 619 4,596 6,554	1,500 72,187 2,500 4,000 11,000 6,600 - 2,000 - 270 95 860 5,900 7,900
	106,908	112,088	*114,812*
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	(22,261) 20,000 - - - -	(31,310) 15,000 10,000 3,900 30 (100)	*(32,932)* 20,000 3,900
	(2,261) 28,155	(2,480) 30,635	*(9,032)* 28,155
	25,894	28,155	*19,123*

2021 Annual Report

Page 17

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

14. Fabric Funds	14. Fabric Funds	Balance January 2021	Balance January 2021	Received 2021 and transfers in	Received 2021 and transfers in	Paid 2021 and transfers out	Paid 2021 and transfers out	Bala Decemb	nce er 2021
3Rs - Restoration, Renovation and Reordering Donations Gift Aided Donations Tfrs between funds Christmas Tree Festival Dons Christmas Tree Festival (Gift Aided) Christmas Tree Festival Other Other Fundraising Income tax recoverable Interest LPOW VAT Recovery Council Grants Other Grants Christmas Tree Festival Card Dons Christmas Tree Festival Card Dons GA Bank charges West End Project North West Window Kitchen Church Brochure Stock Total Fabric Funds		Unrestricted £	Restricted £ 51,523 1,076	Unrestricted £	Restricted £ 3,059 2,286 43,231 1,874 9 171 1,051 1,439 11 22,838 24,049 24,000 705 129 4,770 -	Unrestricted £	Restricted £ 1,010 3 147,472 477 -	Unrestricted £	Restricted £ 15,265 12,625
									27,890 4,293 1,076
		-	52,599	-	129,622	-	148,962	-	33,259

15. St Peter and St Mary's Pre-School								2021	2020
								Restricted £	Restricted £
Balances brought forward Pre-school General Fund Redundancy Fund
								7,450 17,000	15,840 14,400
								24,450	30,240
Income Fees Funding from Department for Education and Employment Donations Grants Polo shirts and Sweatshirts Others Total income								1,125 51,849 6,250 1,340 74 331	1,407 59,784 - 204 -
								60,969	61,395
Expenditure Staff Refreshments Equipment Administration PLA subs and insurance Outside Area Roof Renewal Nursery World T Shirts and Uniforms Ofsted Gifts and Farewells Office Equipment Training Sundry Other Contributions to Church Transfer to Redundancy Fund Total Expenditure								55,702 449 1,114 510 678 - 74 396 50 23 65 55 - -	58,306 444 1,517 760 678 - 74 254 50 42 255 906 - -
								59,116 0 600	63,286 3,900 2,600
								59,716	69,786
Surplus (Deficit) for year								1,253	(8,391)
Balances Total Pre	carried forward Pre-school General Fund RedundancyFund							8,703 17,600	7,450 17,000
	-school funds							26,303	24,450

2021 Annual Report

Page 18

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

16. Other Funds	Balance January 2021	Balance January 2021	Received 2021 and transfers in	Received 2021 and transfers in	Paid 2021 and transfers out	Paid 2021 and transfers out	Balance December 2021	Balance December 2021
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 Miller Roof Alarm Fund Defibrillator Fund Greensward Fund Audio Visual (note 22) Sarginson Memorial Fund Interest Bell Fund Income Expenditure Bells Restoration Fund (note 23) Oldfield Fund Legacy: lectern Legacy: balance Youth BBGA (note 24) Total Other Funds Stowmarket Church Charity	Unrestricted £ 3,197 5,080 33,535 503	Restricted £	Unrestricted £ 1,024 8 18	Restricted £ 30,000	Unrestricted £	Restricted £ 20,000	Unrestricted £ 4,221 5,088 33,553 503 2,000 1,399 1,210 1,000	Restricted £ 10,000 915 540 5 16,141 175 469 50,973 462
	2,000 1,399 1,210 144 250 498 316		1,000
		1,145 650 5 17,733 175 194 53,778 2,151	-	3,907 275 67 474	250 83	230 110 5,499 2,872 2,163	144 - 415 316
	48,132	75,831	2,050	34,723	333	30,874	49,849	79,680

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 Endow ment Fund, the income from w hich is unrestricted. The Capital is held by the Diocese.

Sarginson Memorial Fund

This fund is restricted to the purchase of flow ers for the decoration of the Sarginson Memorial.

Bell Fund

The church receives fees from w edding couples and others w ho w ish 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 w as 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 w as 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 inthe church tow er

Oldfield

A donation w as received from the estate of the late Edw in Oldfield. A memorial lecturn w as purchased, the depreciation of w hich is charged to this fund.

Youth

This fund w as created to receive the residue of the Deanery Youth Cafe account w hen this w as closed

2021 Annual Report

Page 19

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

5	17. Special Collections and Donations	17. Special Collections and Donations	17. Special Collections and Donations			18. PropertyExpenses
				from	from
		Special Collections		PCC	PCC
6		(Restricted)		Funds	Funds		2021	2020
7		Rec'd	Paid	Paid	Paid		£	£
8		2021	2021	2021	2020	Church
9		£	£	£	£
10	Food Bank	200	200	500	500	Gas	2,168	2,761
11	Royal British Legion	553	553	0	0	Electricity	1,845	1,616
12	Town Mayor's Charities	385	385	0	0	Insurance	4,761	4,706
13	RAFA	64	64	0	0	Other	898	364
14	Afghan Relief	108	108	0	0
15	Tear Fund	0	0	0	0		9,672	9,447
16	Gideons	0	0	0	0
17	UCB	0	0	500	500	St Peter's Hall
18	Kagera	171	171	500	500
19	RSVP	0	0	0	0	Gas	278	356
20						Electricity	544	482
21						Insurance	-	-
22						Cleaning	1,989	1,866
23						Major repairs	-	-
24						Other	1,112	1,892
25
26							3,923	4,596
27
28						St Mary's Hall
29
30						Electricity	3,842	3,237
31						Insurance	-	-
32						Cleaning	2,796	2,534
33						Internet	-	18
34						Major repairs		-
35						Other	615	765
36
37		1,481	1,481	1,500	1,500		7,253	6,554
38
39

40	19. Parochial Expenses					20. Café 52 Expenses
41				2021	2020		2021	2020
42				£	£		£	£
43	Depreciation			1,766	1,766	Electricity	128	340
44	Mission and Evangelism			-	40	Insurance	-	-
45	Expenses of Church Services			274	632	Cleaning	-	-
46	Literature and Books			-	87	Repairs	-	-
47	Music			1,022	972	Other	262	279
48	Stationery			1,736	853
49	Subscriptions			95	95
50	Bank Charges			86	61
51	Other			154	1,291
52							390	619
53
54				5,133	5,797
55

56	21. Administration
57				2020	2019
58				£	£
59	Accountancy			831	750
60	Internet			-	-
61	Telephone			1,235	1,025
62	Other			-	-
63				2,066	1,775

2021 Annual Report

Page 20

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

22. Audio Visual Fund	Balance January 2021	Balance January 2021	Received 2021 and transfers in	Received 2021 and transfers in	Paid 2021 and transfers out	Paid 2021 and transfers out	Balance December 2021	Balance December 2021
AV Equipment (2020) Depreciation AV Equipment (2021) Brought forward Interest Expenditure Tfrs between funds Depreciation Total Audio Visual Fund	Unrestricted £	Restricted £ 1,959 15,774	Unrestricted £	Restricted £ 9 3,898	Unrestricted £	Restricted £ 218 3,681 1,600	Unrestricted £	Restricted £ 14,400


	-	17,733	-	3,907	-	5,499	-	14,400


23. Bells Restoration Fund	Balance January 2021		Received 2021 and transfers in		Paid 2021 and transfers out		Balance December 2021
Brought forward Donations Fundraising Income Interest Expenditure Total Bells Restoration Funds	Unrestricted £ 250	Restricted £ 53,778	Unrestricted £	Restricted £ 55 12	Unrestricted £ 250	Restricted £ 2,872	Unrestricted £ -	Restricted £ 50,973
	250	53,778	-	67	250	2,872	-	50,973

24. Boys Brigade and Girls Association	24. Boys Brigade and Girls Association	24. Boys Brigade and Girls Association	24. Boys Brigade and Girls Association	24. Boys Brigade and Girls Association
Subscriptions Donations Fundraising Events income Other income Equipment Activities Events Capitation Other Refreshments	2021		2020
	Income £	Expense £	Paid £ 46 1654 142 0 0	Paid £ 70 1 118 188 55 0
	210 78 0 28 158	1,510 25 54 410 143 21
	474	2,163	1,842	432

25. Long Term Investment
Profit on sale of Café 52 Fees deducted for services Transferred to Fabric Funds Carried Forward	Income £ 76,726	Expense £ 3,101 23,625 50,000
	76,726	76,726

2021 Annual Report

Page 21