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2020-12-31-accounts

Parochial Church Council Parochial Church Council Revd D Bourne (Vicar and Chair) (Vicar and Chair) (Vicar and Chair) (Vicar and Chair)
Revd R Graham (Associate Minister)
Revd. D Griffin (Curate) (Appointed 12October 2020)
Mr D Gooding (Churchwarden)
Mrs M Luffingham (Churchwarden)
Mrs FWS Newton (Treasurer and Synod Rep)
Mr R K Booth
Miss C Bromfield (Synod Rep)
DrJ Canning
Mr CJ Dadswell
DrJ Garvican
Mr P Luffingham
Mrs D Miller
Mr D Saxby
Mr D Sinden
Mrs D Sinden (Secretary and Synod Rep)
Miss C Smith (Appointed 12 October 2020)
Mrs R Smith
Mrs M Surrey (Synod Rep)
Charity number 1132922
Principal address Vicarage Road
Hailsham
East Sussex
BN27 1BL
Independent examiner John Caladine FCCA CTA FCIE
Caladine
Limited
Chantry
House
22 Upperton
Road
Eastbourne
East Sussex
BN21 1BF
Bankers Barclays Bank PLC
Leicester
LE87288
Page
Parochial Church
Council Members'		 report 1-9
Statement of Parochial
Church		 Council members' responsibilities10
Independent
examiner's
report
Statement offinancial activities 12- 13
Statement offinancial
position		 14
Notes to the financial statements 15-30

Current financial year
Unrestricted Unrestricted Restricted Total Total
funds funds funds
general designated
2020 2020 2020 2020 2019
Notes 8 8 8 8
Igggt~tom:
Donations
and legacies		 3 197,233 414 197,647 135,561
Charitable
activities		 4 11,622 11,622 19,354
Investments 5 34,012 34,012 50,906
Other income 6 21,845 21,845 62,253
Total income 264,712 414 265,126 268,074
gzmmtIItttg
on:
Raising funds 7,614 7,614 8,021
Charitable
activities		 8 274,407 454,353 15 728,775 308,452
Total resources expended 282,021 454,353 15 736,389 316,473
Net gains/(losses) on investments 13 232,931 232,931 87,923
Net (outgoing)/incoming
resources before transfers (17,309) (221,422) 399 (238,332) 39,524
Gross transfers
between		 funds 22, 23 10,020 (9,240) (780)
Net movement
in		 funds (7,289) (230,662) (381) (238,332) 39,524
Fund balances at 1 January 2020 35,197 1,625,788 3,934 1,664,919 1,625,395
Fund balances at 31 December
2020 27,908 1,395,126 3,553 1,426,587 1,664,919

Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
Notes 2019
f		 2019
f		 2019f 2019f
~ln ~m
Donations
and		 legacies 3 132,843 2,718 135,561
Charitable
activities		 4 19,354 19,354
Investments 5 50,901 50,906
Other income 6 62,253 62,253
Total income 265,351 2,723 268,074
~Ex
ndi gDtJttL'
Raising funds 8,021 8,021
Charitable
activities		 8 273,120 32,875 2,457 308,452
Total resources expended 281,141 32,875 2,457 316,473
Nst gains/(losses) on investments 13 87,923 87,923
Net (outgoing)/incoming resources before
transfers (15,790) 55,048 266 39,524
Gross transfers between funds 22 (93,867) 93,867
Net movement in funds (109,657) 148,915 266 39,524
Fund balances at 1 January 2019 144,854 1,476,873 3,668 1,625,395
Fund balances at 31 December 2019 35,197 1,625,788 3,934 1,664,919

2020 2019
as restated
Notes 6
Fixed assets
Property,
plant and equipment		 14 43,837 418,166
Investment
properties		 15 662,500 375,000
Investments 16 674,974 822,583
1,381,311 1,615,749
Current assets
Trade and other receivables 17 6,434 23,577
Cash at bank and in hand 98,846 117,565
105,280 141,142
Current
liabilities		 19 (20,004) (51,972)
Net current assets 85,276 89,170
Total assets less current liabilities 1,466,587 1,704,919
Non-current
liabilities		 20 (40,000) (40,000)
Net assets 1,426,587 1,664,919
Income funds
Restricted funds 22 3,553 3,934
Unrestricted
funds - designated		 23 1,395,126 1,625,788
Unrestricted
funds - general		 27,908 35,197
1,426,587 1,664,919

Hire of Hire of Churchyard Wedding Sale of Total Total
Emmanuel upkeep and funeral magazines 2020 2019
Church Hall grant fees
2020 2020 2020 2020
6 6 6 6
Sales of Literature 212 212 275
Charitable rental
income 7,887 7,887 14,631
Other income 1,838 1,685 3,523 4,448
7,887 1,838 1,685 212 11,622 19,354

Hire of Churchyard Wedding Sale of Total
Emmanuel upkeep and funeral magazines 2019
Church
Hall		 grant fees
6
Sales of Literature 275 275
Charitable rental income 14,631 14,631
Other income 1,810 2,638 4,448
14,631 1,810 2,638 275 19,354

Unrestricted Unrestricted Restricted Total
funds funds funds
general general
2020 2019 2019 2019
6 5 E 6
Rental income 11,415 11,360 11,360
Income from listed investments 22,478 39,541 39,541
Interest receivable 119 5
34,012 50,901 50,906

Unrestricted Unrestncted
funds funds
general general
2020 2019
6 6
Other income 12,251 62,253
Job Retention Scheme Grants 9,594
21,845 62,253

Unrestricted Unrestricted
funds funds
general general
2020 2019
E
7,614 8,021

2020 2019
f 6
Staff costs 53,673 54,910
Diocesan parish
contribution		 109,598 90,999
Staff housing costs 21,803 19,845
Curate Cost and Clergy expenses 24,862 4,836
Church
music and organist		 honorarium 1,368 1,124
Youth and Sunday school 857 1,765
Training fees and study materials 352 2,512
Service costs 107 1,812
Flowers 740 435
Light, heat and water 8,552 8,661
Repairs and maintenance 9,221 35,163
Hire ofequipment 5,940 7,515
Printing,
postage and stationery		 1,756 1,650
Telephone 1,119 682
Property
insurance		 3,355 3,804
243,303 235,713
Grant funding
ofactivities (see note 9)		 11,421 15,349
Share ofsupport costs (see note 10) 471,059 56,130
Share ofgovernance
costs		 (see note 10) 2,992 1,260
728 775 308452
Analysis
by fund
Unrestricted
funds - general		 274,407 273,120
Unrestricted
funds - designated		 454,353 32,875
Restricted
funds		 15 2,457
728,775 308,452
2020 2019
f f
Grants to institutions:
External mission giving 11,406 15,349
Grants to individuals 15
11,421 15,349
Support costs
Support Governance Total Support Governance Total
costs costs 2020 costs costs 2019
f f f f f f
Staff costs 2,718 2,718 2,710 2,710
Depreciation 380,816 380,816 32,875 32,875
Caretaking
and cleaning		 620 620 975 975
Churchyard
upkeep		 1,822 1,822 1,755 1,755
Legal and professional
fees 2,322 2,322 1,086 1,086
Lynton management
fees and repairs 4,713 4,713 6,862 6,862
Bank charges 414 414 346 346
Major Building
Improvements 73,537 73,537
Sundry expenses 4,097 4,097 9,521 9,521
Accountancy
and
independent
examination 2,992 2,992 1,260 1,260
471,059 2,992 474,051 56,130 1,260 57,390
Artttt)tag~~en
Charitable
activities		 471,059 2,992 474,051 56,130 1,260 57,390

2020 2019
Number Number
Employment costs 2020 2019
K 8
Wages and salaries 55,580 56,818
Other pension costs 811 802
56,391 57,620

Unrestricted Unrestricted
funds funds
designated designated
2020f 2019
Revaluation of investments (11,111) 59,511
Gain/(loss) on sale of investments (43,458) 28,412
Revaluation of investment properties 287,500
232,931 87,923

14 Property,
plant and equipment		 Property,
plant and equipment
Property Fixtures, Total
improveme Fittings 8
nts Equipment
8
Cost
At 1 January 2020 414,402 128,973 543,375
Additions 6,487 6,487
At 31 December 2020 414,402 135,460 549,862
Depreciation
and impairment
At 1 January 2020 54,207 71,002 125,209
Depreciation
charged		 in the year 360,195 20,621 380,816
At 31 December 2020 414,402 91,623 506,025
Carrying
amount
At 31 December 2020 43,837 43,837
At 31 December 2019 360,195 57,971 418,166

Investment
property
2020
8
Fair value
At 1 January 2020 375,000
Net gains or losses through fair value adjustments 287,500
At 31 December 2020 662,500

Listed
investments
6
Cost or valuation
At 1 January 2020 822,583
Additions 239,470
Valuation
changes		 (11,111)
Disposals (375,968)
At 31 December 2020 674,974
Carrying
amount
At 31 December 2020 674,974
At 31 December 2019 622,583
17 Trade and other receivables
2020 2019
Amounts
falling due within one year:		 6 E
Trade receivables 862 2,850
Other receivables 4,876 20,357
Prepayments
and accrued income		 696 370
6,434 23,577

Borrowings
2020 2019
8 6
Other loans 40,000 40,000
Payable after one year 40,000 40,000

2020 2019
8 8
Other taxation and social security 1,502
Trade payables 6,900 45,449
Other payables 1,361 1,528
Accruals and deferred income 10,241 4,995
20,004 51,972
20 Non-current liabilities
2020 2019
8 6
Borrowings 40,000 40,000

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2020 2019
6 F
Within one year 4,174 4,174
Between two and five years 4,174
4,174 8,348

At 31 December 2019 December 2019
As previously Adjustment As restated
reported
E
Fixed assets
Investments 833,149 (10,566) 822,583
Current assets
Bank and cash 120,653 (3,088) 117,565
Net assets 1,678,573 (13,654) 1,664,919
QKIIg(1ILnnt
Endowment funds 13,654 (13,654)
lrrg(gafu0fja
Restricted
funds		 3,934 3,934
Designated funds 1,625,788 1,625,788
Unrestricted funds 35,197 35,197
Total equity 1,678,573 (13,654) 1,664,919
Changes to the income statement
Period ended 31 December 2019
As previously Adjustment As restated
reported
K
Income from:
Investments 51,237 (331) 50,906
Net gains on investments 89,569 (1,646) 87,923
Net movement in funds 41,501 (1,977) 39,524