2021-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of Limpsfield And Titsey

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Charity Registration Number: 1133240

Annual Report and Accounts

31 December 2021

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Annual Report and Accounts 2021 Contents

	Page
Legal & Administrative Information	2
Annual Report of the Trustees	3
Independent Examiner’s Report	6
Receipts & Payments Account	7
Statement of Assets & Liabilities	8
Notes to the Accounts	9

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Report of the PCC For the year ended 31 December 2021

Charity Name	The Parochial Church Council of the Ecclesiastical Parish of Limpsfield and Titsey	The Parochial Church Council of the Ecclesiastical Parish of Limpsfield and Titsey
Principal Address	Parish Office, High Street,	Limpsfield, Oxted, Surrey, RH8 0DG.
Charity Registration	1133240. The church was registered with the Charity Commission on 10 December
	2009.
The Governing Document	Parochial Church Council Powers Measure (1956) as amended and Church
	Representation Rules.
Object	Promoting in the ecclesiastical parish the whole mission of the Church.
Member of the PCC	The Trustees who served during the year or who were serving at the date of this report
	were:
	Clergy	Helen Cook (Rector)
	Churchwardens	Jane Tozer
		Joy Moore
	Elected Lay	Caroline Campbell (Secretary)
	Representatives	Simon Baker
		David Bell
		Lynda Boast (appointed 11 May 2021)
		Thelma Cooper
		Charlotte Corrish (appointed 11 May 2021)
		Lindsey Dunbar (appointed 11 May 2021)
		Faye Faulkner
		Lillian Hindley
		Nila Spiller (appointed 11 May 2021)
		Andrew Twomey
		Pauline Whyte (appointed 11 May 2021)
	Lay Representatives to	Paul Budgen
	the Deanery Synod	Dominic Campbell
		Sarah Paxton
		Eleanor Stoneham
		Marcell Wright
Bankers	NatWest
Independent Examiner	David Chitty BA FCA
	Quarry Hill
	Brassey Road
	Oxted RH8 0ET
Quinquennial Inspector	Andy Burrell, Carden & Godfrey Architects

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Report of the PCC For the year ended 31 December 2021

The Parochial Church Council submits its annual report and accounts of the Ecclesiastical Parish of Limpsfield and Titsey (“the PCC”) for the year ended 31 December 2021. The legal and administrative information set out earlier in this document forms part of this report.

1. Structure, Governance & Management

The office bearers and any other leadership team members for the time being constitute the trustees. There must be at least three, and they must meet at least twice a year.

None of the Trustees receive remuneration.

2. Activities

In addition to the Church the PCC is responsible for three community activities, the Church Hall, Glebe Meadow and Pavilion and the Parish News.

3. Financial Review

The PCC is funded mainly by the freewill offerings of congregants, lettings income and by donations from trusts.

During 2021 the PCC’s cash resources decreased by £48,063 during the year to £364,941 (2020: decreased by £6,255 to £413,004).

Income & expenditure

The receipts and payments account can be found on page 7.

As broadly forecast there was an overall deficit for the year of £48k.

Of this deficit approx. £35k is drawn against restricted funds for specific projects. The bulk of this is £32k as part of the cost of the research investigation and installation of the new boiler system. In addition to this there was a welcome grant towards the boiler project from Limpsfield Church Trust of £30k. This means that the total cost of the boiler installation was over £60k - a lot more than forecast but representative of the challenge and complication of the project.

After absorbing these specific costs against designated reserves and with additional provisions made for future expenditure, the General Fund has fallen by approx. £38k. Within expenditure incurred approx. £19k was spent on Hall Roof repairs. This was budgeted but no specific Reserve was created

The main reason for this deficit is that our Giving income has continued to fall, with several generous donors having died; our Hall letting Income has been constrained by Covid for some of the year. At the same time there, although our Parish Pledge was reduced by 20% there have been only limited opportunities to further reduce underlying costs and the major projects of the boiler and the Hall roof were undertaken.

Investments and Other Assets

The statement of assets and liabilities can be found on page 8.

The Rector and Churchwardens own the Church as a conditional freehold on trust. St Peters is the beneficial owner of St Peters Hall, with the South London Church Fund and Diocesan Board of Finance as Trustees. In accordance with the charities legislation neither asset is included in the statement of assets and liabilities.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Report of the PCC For the year ended 31 December 2021

The house in Padbrook, which is freehold, is accounted for as an investment property. The Parish Office is held through a 999 year lease signed in 1997. They are both accounted for as restricted assets and continue to be shown at their values in 2012 when first recorded. No value has been attributed in the accounts to other assets in the church such as the 16th Century Medieval Chest, the sound system, pew candles etc.

PCC Reserves

The Church has three types of funds: unrestricted, restricted and designated. Total cash funds are £364k.

Restricted cash funds, totalling £24k, are those that can only be used in accordance with the specific purposes set out by the donors. In addition, there are non-cash restricted funds: The Val Darkin Fund, the Parish Office and the house in Padbrook where the proceeds from sale can only be used to purchase further clergy accommodation.

Designated cash funds, totalling £254k, are those earmarked by the PCC for particular purposes or projects. Our main designated reserve of £200k was set aside for the Millennium Room Reconfiguration.

Unrestricted cash funds, total just over £87k.

As discussed at the last PCC meeting our Reserves have been steadily eroded in recent years and it is clear that in 2022 we will need to look at ways to generate income, particularly through regular giving from Church members and perhaps through establishment of a 'Friends' organisation to involve the wider community. At the same time we will probably not wish to take on new expenditure or projects without associated fund raising.

We have approx £200k set aside in respect of the Millennium Room project but in the prevailing climate, with considerable strain on our general finances and with our human resources fully stretched this project has been put on hold.

Reserves Policy

The PCC considers that, given the nature of the PCC’s work, free cash reserves should be equivalent to approximately 4 months’ routine unrestricted fund expenditure, plus committed future expenditure on other projects, where funds permit. The Trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow the PCC to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2021 the PCC had net free reserves of £87,348 (2020: £110,004).

Total cash reserves Less: restricted cash funds Less: designated cash funds Free cash reserves Free cash reserves requirement: 4 month’s budgeted routine unrestricted expenditure	2021	2020 £ 413,004 - (303,000)
	£

	364,941
	(23,540)
	(254,053)

		110,004
	87,348

		72,000

	72,000

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Report of the PCC For the year ended 31 December 2021

4. Responsibilities of Trustees for the Accounts

Charity law requires the Trustees to prepare accounts for each accounting year which record the receipts and payments of the charity for the year. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. The Trustees also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

5. Approval

The report of the PCC was approved by the PCC on 12 April 2022 and signed on its behalf by:

Rev Helen Cook, Team Rector

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Independent Examiner’s Report For the year ended 31 December 2021

I report on the accounts of The Parochial Church Council of the Ecclesiastical Parish of Limpsfield and Titsey for the year ended 31 December 2021, set out on pages 6 to 10.

This report is made solely to the Trustees in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Trustees for my independent examination, for this report, or the opinions I have formed.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER

The Trustees consider that an audit is not required for this period (under section 144(2) of the Act) and that an independent examination is needed.

It is my responsibility to:

Examine the accounts (under section 145 of the Act);
To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
To state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

INDEPENDENT EXAMINER’S STATEMENT

In the course of my examination, no matter has come to my attention:

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

David Chitty BA FCA

April 2022

(Signed copy held in office)

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Receipts & Payments Account For the year ended 31 December 2021

Note Receipts 2 Donations and grants Charitable Activities Other Trading Investment income Total Receipts Payments Cost of raising funds 3 Charitable activities 4 Total Payments Surplus/(deficit) Transfer between funds Total cash funds brought forward Total cash funds carried forward	Unrestricted Funds 2021 £ 116,651 6,955 49,201 18,595 191,402 42,205 167,253 209,458 (18,056) (4,600) 110,004 87,348	Designated Funds 2021 £ - - - - 0 - 33,947 33,947 (33,947) (15,000) 303,000 254,053		Restricted Funds 2021 £ 38,773 - - - 38,773 - 34,833 34,833 3,940 19,600 - 23,540		Total 2020 £ 138,956 8,787 42,764 20,431	)
					Total
					2021
					£

					155,424
					6,955
					49,201
					18,595

						210,938
					230,175

						27,789 189,404

					42,205
					236,033

						217,193

					278,238

						(6,255 419,259
					(48,063)

					0

					413,004

						(6,255)

					364,941

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Statement of Assets & Liabilities As at 31 December 2021

Note Assets Tangible assets - property 5 Investments - funds 6 Investments - property 7 Debtors Cash At Bank And In Hand 8 Liabilities Total Assets Less Liabilities	Unrestricted Funds 2021 £ - - - - 87,348 87,348 - 87,348	Designated Funds 2021 £ - - - - 254,053 254,053 - 254,053	Restricted Funds 2021 £ 58,277 16,232 305,000 - 23,540 403,049 - 403,049		Total 2020 £ 58,277 13,634 305,000 - 413,004
				Total
				2021
				£

				58,277
				16,232
				305,000
				-
				364,941

					789,915 -

				744,450

				-

					789,915
				744,450

The Accounts were approved by the PCC on 12 April 2022 and signed on its behalf by:

Rev Helen Cook

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Notes to the Accounts For the year ended 31 December 2021

1. Accounting Policies

The accounts have been prepared on a receipts and payments basis with a statement of assets and liabilities.

2. Receipts

Unrestricted Funds 2021 £ Donations and grants Offerings, collections, donations 96,393 Income tax reclaimed 20,258 Legacies and grants - 116,651 Charitable activities Fees 6,955 Other trading Church hall & Glebe 45,521 Parish News 3,420 Other 260 49,201 Investment income Bank interest 510 Padbrook rent 18,085 18,595 191,402	Designated Funds 2021 £ Restricted Funds 2021 £ - 8,773 - - - 30,000 0 38,773 - - - - - - - - 0 0 - - - - 0 0 0 38,773				Total 2020 £ 87,447 22,589 28,920
			Total
			2021
			£

			105,166
			20,258
			30,000

					138,956 5,457 39,907 2,857 3,330
			155,424

			6,955


			45,521
			3,420
			260

					46,094 2,431 18,000
			49,201

			510
			18,085

					20,431
			18,595

					210,938
			230,175

3. Payments – Raising Funds

Designated Funds 2021 £ - - - -		Total 2020 £ 1,463 23,783 2,543 -
	Total
	2021
	£

	1,290
	36,925
	3,783
	207

0		27,789
	42,205

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Notes to the Accounts For the year ended 31 December 2021

4. Payments – Charitable Activities

Unrestricted Funds 2021 £ 102,000 106	Designated Funds 2021 £ - -
		Total
		2021
		£

		102,000
		106

102,106 6,367 200	0 - -
		102,106

		6,367
		911

6,567 19,271 1,358 7,498	- - -
		7,278

		19,271
		1,358
		7,498

28,127 14,300 16,153	- 33,947
		28,127

		14,300
		84,222

30,453 -	33,947 -
		98,522

		-

167,253	33,947
		236,033

5. Tangible Fixed Assets

The property is the leasehold interest in the office at Parish Office, High Street, Limpsfield, Oxted, Surrey, RH8 0DG. A 999 year lease was agreed in 1997.

6. Investments - Funds

The investment is in the M&G Charifund Accumulation units.

7. Investments - Property

The property is the freehold interest in the residential property at 24 Padbrook, Limpsfield RH8 0DW.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Notes to the Accounts For the year ended 31 December 2021

8. Cash funds - movement

At 1 January 2021 £ 110,004	Receipts £ 191,402	Payments £ (209,458)	Transfers £ (4,600)	At 31	At 31
				December
					2021
					£

					87,348

20,000 5,000 15,000 200,000 25,000 38,000	- - - - - -	- - - (1,714) - (32,233)	- - - - (15,000) -
					20,000
					5,000
					15,000
					198,286
					10,000
					5,767

303,000 0 0 0 0 0 0	0 6,327 411 100 1,935 - 30,000	(33,947) (1,580) (411) (300) - (2,542) (30,000)	(15,000) 4,600 - - - 15,000 -		254,053

					9,347
					0
					(200)
					1,935

					12,458
					0

0	38,773	(34,833)	19,600		23,540

413,004	230,175	(278,238)	0		364,941

Descriptions of the funds are as follows:

Designated:

Church building & quinquennial. Funds set aside by the PCC to fund repairs to the church building, including those identified by the Quinquennial review.
Church hall & Glebe Meadow. Funds set aside by the PCC to fund repairs and maintenance.
Donations fund. Funds set aside by the PCC to fund Charitable purposes on behalf of the church.
Millennium Room Extension. Funds set aside by the PCC to fund the extension to the Millennium Room
New AV facilities. Funds set aside by the PCC to fund the installation of new AV facilities in the church building.
New boiler. Funds set aside by the PCC to fund a new boiler in the church and Millennium Room.

Restricted:

Churchyard maintenance. Funds received specifically for the maintenance of the churchyard
Harvest Festival/WaterAid collection and distribution.
Val Darkin Fund. Funds received specifically for the assistance of those in need. The assets of the fund are currently held in M&G accumulation units. Payments are made from cash and therefore the cash fund, shown here, will be negative until funded by the sale of accumulation units.
Church projects incl. AV & Media, lighting & heat conservation. Funds received for these projects in the church building.
St Bartholomew’s fund. Funds received specifically to help people from the church or Limpsfield school who need financial help.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF LIMPSFIELD AND TITSEY

Notes to the Accounts For the year ended 31 December 2021

9. Related Party Transactions

David Bell, a member of the PCC, is also a trustee of the Limpsfield Church Trust. During the year the Limpsfield Church Trust made donations of £30,000 (2020: £19,600) to the PCC.

There were no other related party transactions.