## **TRUSTEES’ ANNUAL REPORT** ## **For the period 1 January 2020 to 31 December 2020** ## **SECTION A REFERENCE AND ADMINISTRATION DETAILS** Charity Name: The Parochial Church Council of the Ecclesiastical Parish of St Peter and St Paul, Moulton, Northants Registered Charity Number: 1133729 Principle Address: Church Hill Moulton Northants NN3 7SW Name of the charity trustees who manage the charity: |**Trustee Name**|**Office**|**Dates Acted (where not whole year)**| |---|---|---| |Andy Byfield|Vicar/Chair|01.01.2020-21.03.2021| |Jonnie Deja|Grafting Associate Vicar|| |Nick Alexander|Local Associate Vicar|22.03.2020-31.12.2020| |Nic Edwards|Curate|27.06.2020-31.12.2020| |Eric Anakwa||| |Chris Battye|Warden (05.06.2020-31.12.2020)|| |Anna Byfield||16.07.2020-31.12.2020| |Jane Cosby||| |George Farenden||| |Lynda Featley|Secretary|| |Malcolm Forsyth||| |Anne Jeffrey||| |Neal Kennedy|Warden|| |Steve Kenton|Treasurer|| |Mark Maryan||| |Neil Menon|Warden|01.01.2020-26.04.2020| ||Deanery Synod|01.01.2020-16.11.2020| |Vijay Menon||01.01.2020-27.12.2020| |Mike Monk||| |Kathy Morrison||| |Steve Morrow||| |Simon Phillips||| |Philip Smith||01.01.2020-26.04.2020| |David Taylor||| |Martyn Thompson||| |Rachel Wild||| |Andrew Wintersgill||| |Rob Wood||01.01.2020-16.07.2020| ## **SECTION B STRUCTURE, GOVERNANCE AND MANAGEMENT** Type of governing document None How the charity is constituted Church of England Assembly (Powers) Act 1919 Parochial Church Council (Powers) Measure 1921 Trustee Selection Methods Elected by members of the electoral roll at an annual meeting ## **SECTION C OBJECTIVES AND ACTIVITIES** Summary of the objects of the charity Administration and finances of the parish church of St Peter and St Paul, Moulton, Northants. Summary of the main activities To monitor and make due provision for the above, undertaken for the public benefit providing church services and associated offices (e.g.: weddings, funerals, baptisms) in accordance with the governing legislation. Ensuring the provision of other services and facilities as are deemed important, desirable and necessary for the parish, namely (inter alia) - support and facilities for children of all ages - support and facilities for families - support and facilities for 3[rd] Age Ministry - youth meetings in the village and schools - women’s meetings and support - men’s meetings and support ## **SECTION D ACHIEVEMENTS AND PERFORMANCE** Summary of the main achievements The Parish church of St Peter and St Paul continues to flourish, being financially stable and continuing to be an integral part of the village, providing support and fellowship across all ages. The Church continued to offer regular Sunday services via YouTube during the lockdown, as well as running regular mid-week housegroups and prayer meetings through Zoom. New roles: The new Local Associate Vicar joined in March 2020, a Chaplain to the Third Age was commissioned in April 2020, together with a new Curate in June 2020. The Grafting Minister for the planned Church Plant, Grace Church in Duston, continued to work closely within the Parish whilst making preparations for the new Church due to start in Duston during Summer 2021. The previously vacant post of Youth Minister was filled in September 2020. The Church has four licensed readers. ## **SECTION E FINANCIAL REVIEW** Reserves Policy The charity has historically had a £30,000 reserve fund to cover emergency shortfall in salaries and expenditure, this being around two months of costs on average. During the pandemic income has fallen due to lockdown restrictions on Services and Church groups, and it has therefore been necessary to use some of the reserves. Measures are in place to restore the reserves to a level similar to their prepandemic levels. ## **DECLARATION** The TRUSTEES DECLARE THAT THEY HAVE APPROVED THE TRUSTEES’ REPORT ABOVE. **COMPLETED ON BEHALF OF THE TRUSTEES BY** ## **LYNDA FEATLEY** SECRETARY DATE: 17[th] May 2021 |Charity Name: The Parochical Church Council of the
Ecclesiastical Parish of St Peter & St Paul, Moulton|Charity Name: The Parochical Church Council of the
Ecclesiastical Parish of St Peter & St Paul, Moulton|Charity Name: The Parochical Church Council of the
Ecclesiastical Parish of St Peter & St Paul, Moulton|Charity No
(if any)|1133729|| |---|---|---|---|---|---| |Annualaccountsforthe period|||||| |Period start date|**01/01/2020**|**To**|Period end
date|**31/12/2020**|| ## **Section A Statement of financial activities** |**Recommended categories by**
**activity**
Guidance Notes
**Incoming resources (Note 3)**
**Income and endowments from:**
Donations and legacies
S01
Charitable activities
S02
Other trading activities
S03
Investments
S04
Separate material item of income
S05
Other
S06
S07
**Resources expended (Note 6)**
**Expenditure on:**
Raising funds
S08
Charitable activities
S09
Separate material item of expense
S10
Other
S11
S12
S13
Net gains/(losses) on investments
S14
S15
**Extraordinary items**
S16
S17
S18
Other gains/(losses)
S19
S20
**_Reconciliation of funds:_**
S21
S22
**_Total_**
**_Net movement in funds_**
Total funds brought forward
**_Total funds carried forward_**
**_Total_**
**Net income/(expenditure) before investment**
**gains/(losses)**
**Net income/(expenditure)**
**Transfers between funds**
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed assets for the charity’s own use|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05| |---|---|---|---|---|---| ||152,533|48|-|152,581|161,713| ||8,468|132,357|-|140,825|82,696| ||254|-|-|254|3,958| ||39|179||217|414| ||-|-|-|-|-| ||-|-|-|-|-| ||161,293|132,584|-|293,877|248,781| ||||||| ||-|-|-|-|-| ||166,215|132,294|-|298,509|240,572| ||15,543|-|-|15,543|15,886| ||4,916|12,196|-|17,112|17,111| ||186,674|144,490|-|331,163|273,569| ||||||| ||25,380
-|11,906
-|-|37,286
-|24,788
-| ||-|-|-|-|-| ||25,380
-|11,906
-|-|37,286
-|24,788
-| ||-|-|-|-|-| ||-|-|-|-|-| ||||||| ||-|-|-|-|-| ||-|-|-|-|-| ||25,380
-|11,906
-|-|37,286
-|24,788
-| ||||||| ||277,851|67,618|-|345,469|-| ||252,471|55,712|-|308,183|24,788
-| ## **Section B Balance sheet** |**Fixed assets**
**Intangible assets (Note 15)**
**Tangible assets (Note 14)**
**Heritage assets (Note 16)**
**Investments (Note 17)**
**_Total fixed assets_**
**Current assets**
**Stocks (Note 18)**
**Debtors (Note 19)**
**Investments (Note 17.4)**
**Cash at bank and in hand (Note 24)**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 20)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year (Note 20)**
**Provisions for liabilities**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Endowment funds (Note 27)**
**Restricted income funds (Note 27)**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_**
Signed by one or two trustees on behalf of all
the trustees|Guidance Notes
B01
B02
B03
B04
B05
B06
B07
B08
B09
B10
B11
B12
B13
B14
B15
B16
B17
B18
B19
B20
B21|**Unrestricted**
**funds**
**£**
F01|**Restricted**
**income**
**funds**
**£**
F02|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04|**Total last**
**year**
**£**
F05| |---|---|---|---|---|---|---| |||-|-|-|-|-| |||234,805|13,317|-|248,122|265,233| |||-|-|-|-|-| |||-|-|-|-|-| |||234,805|13,317|-|248,122|265,233| |||||||| |||-|-|-|-|-| |||2,329|4|-|2,333|8,735| |||-|-|-|-|-| |||51,009|45,672|-|96,681|100,481| |||53,338|45,676|-|99,013|109,216| |||||||| |||35,671|3,281|-|38,952|28,980| |||||||| |||17,666|42,395|-|60,062|80,236| |||||||| |||252,471|55,712|**-**|308,183|345,469| |||||||| |||-|-|-|-|-| |||-|-|-|-|-| |||||||| |||252,471|55,712|-|308,183|345,469| |||||||| |||-|||-|-| ||||55,712||55,712|67,618| |||252,471||-|252,471|277,851| ||||||-|| |||252,471|55,712|-|308,183|345,469| |||||||| |||Signature||Print Name||Date of
approval
dd/mm/yyyy| ||S Kenton|||Steve Kenton||17/05/2021| |||||||| CC17a (Excel) 07/06/2021 2 ## **Section C Notes to the accounts** Note 1 **Basis of preparation** _**This section should be completed by all charities** ._ ## **1.1 Basis of accounting** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities • and with* ✓ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 • and with* ✓ the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) - and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by ✓ FRS 102.* * -Tick as appropriate ## **1.2 Going concern** _**If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:**_ An explanation as to those factors that support the conclusion that the charity is a going Not applicable concern; Disclosure of any uncertainties that make the going concern assumption doubtful; Not applicable Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the Not applicable charity is not regarded as a going concern. ## **1.3 Change of accounting policy** The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }. |Yes*
No*|✓|* -Tick as appropriate|* -Tick as appropriate| |---|---|---|---| ||||| |**_Please disclose_**|**_:_**||| |**_(i) the nature of_**|**_the chang_**|**_e in accounting policy;_**|Not applicable| |**_(ii) the reasons_**
**_provides more r_**
**_and_**|**_why apply_**
**_eliable an_**|**_ing the new accounting policy_**
**_d more relevant information;_**|Not applicable| |**_(iii) the amount_**
**_the current peri_**
**_aggregate amou_**
**_before those pre_**|**_of the adj_**
**_od, each p_**
**_nt of the a_**
**_sented, 3_**|**_ustment for each line affected in_**
**_rior period presented and the_**
**_djustment relating to periods_**
**_.44 FRS 102 SORP._**|Not applicable| ## **1.4 Changes to accounting estimates** |No changes to a|ccounting|estimates have occurred in the reporting period(3.46 FRS 102 SORP).|estimates have occurred in the reporting period(3.46 FRS 102 SORP).| |---|---|---|---| |Yes*
No*|✓|* -Tick as appropriate|| ||||| |**_Please disclose_**|**_:_**||| |**_(i) the nature of_**|**_any chan_**|**_ges;_**|Not applicable| |**_(ii) the effect of_**
**_assets and liabi_**|**_the chang_**
**_lities for t_**|**_e on income and expense or_**
**_he current period; and_**|Not applicable| |**_(iii) where pract_**
**_more future peri_**|**_icable, th_**
**_ods._**|**_e effect of the change in one or_**|Not applicable| ## **1.5 Material prior year errors** No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP). Yes* ✓ * -Tick as appropriate No* ## _**Please disclose:**_ |**_Please disclose:_**|| |---|---| |**_(i) the nature of the prior period error;_**|Not applicable| |**_(ii) for each prior period presented in the accounts, the_**
**_amount of the correction for each account line item_**
**_affected; and_**|Not applicable| |**_(iii) the amount of the correction at the beginning of the_**
**_earliest prior period presented in the accounts._**|Not applicable| CC17a (Excel) 07/06/2021 3 ## **Section C Notes to the accounts** ## **Note 2 Accounting policies** _Please complete this note when first reporting under FRS2102. Section 35 of FRS102, requires 3 reconciliations to be presented, if all are applicable._ ## **2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE** **----- Start of picture text -----**
Please provide a description
of the nature of each change
in accounting policy
Reconcilation of funds per previous GAAP to funds determined under FRS 102
Start of End of
period period
£ £
Fund balances as previously
stated
Adjustments:
Fund balance as restated
Reconcilation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
End of
£
Net income/(expenditure) as previously
stated
Adjustments:
Previous period net income/(expenditure) as
restated
**----- End of picture text -----**
CC17a (Excel) 07/06/2021 4 **Section C Notes to the accounts (cont)** ## **Note 2 Accounting policies 2.2 INCOME** _This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below._ |**Recognition of income**
Donated services and facilities that are consumed immediately are recognised as income
with an equivalent amount recognised as an expense under the appropriate heading in
the SOFA.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on receipt.
In the reporting period in which the stocks are distributed, they are recognised as an
expense at the carrying amount of the stocks at distribution.
**Donated services and**
**facilities**
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.
These are included in the Statement of Financial Activities (SoFA) when:
• the charity becomes entitled to the resources;
· it is more likely than not that the trustees will receive the resources; and
• the monetary value can be measured with sufficient reliability.
**Donated goods**
**Contractual income and**
**performance related**
**grants**
**Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless
required or permitted by the FRS 102 SORP or FRS 102.
**Grants and donations**
Grants and donations are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP).
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
**Legacies**
Legacies are included in the SOFA when receipt is probable, that is, when there has been
grant of probate, the executors have established that there are sufficient assets in the
estate and any conditions attached to the legacy are either within the control of the charity
or have been met.
**Government grants**
The charity has received government grants in the reporting period
**Tax reclaims on**
**donations and gifts**
Gift Aid receivable is included in income when there is a valid declaration from the donor.
Any Gift Aid amount recovered on a donation is considered to be part of that gift and is
treated as an addition to the same fund as the initial donation unless the donor or the
terms of the appeal have specified otherwise.
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.|Yes
No
N/a|Yes
No
N/a|Yes
No
N/a| |---|---|---|---| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| |||✓|| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| |**2.4 ASSETS**
**Intangible fixed assets**
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs by
floor areas, or per capita, staff costs by the time spent and other costs by their usage.
**Grants with performance**
**conditions**
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
**Grants payable without**
**performance conditions**
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through custody
or legal rights. The amortisation rates and methods used are disclosed in note 9.5
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
**Income from interest,**
**royalties and dividends**
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
**Income from membership**
**subscriptions**
Membership subscriptions received in the nature of a gift are recognised in Donations and
Legacies.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
**2.3 EXPENDITURE AND LIABILITIES**
**Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of the
obligation can be measured with reasonable certainty.
**Investment gains and**
**losses**
The charity accounts for basic financial instruments on initial recognition as per paragraph
11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19,
FRS102 SORP.
**Tangible fixed assets for**
**use by charity**
The depreciation rates and methods used are disclosed in note 9.2.
**Governance and support**
**costs**
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
**Settlement of insurance**
**claims**
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
They are valued at cost.
**Support costs**
The charity has incurred expenditure on support costs.
**Volunteer help**
These are capitalised if they can be used for more than one year, and cost at least
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
**Redundancy cost**
The charity made no redundancy payments during the reporting period.
**Deferred income**
No material item of deferred income has been included in the accounts.
**Creditors**
The charity has creditors which are measured at settlement amounts less any trade
discounts
**Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
**Basic financial**
**instruments**|✓||| |---|---|---|---| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||||✓| ||Yes
No
N/a||| ||✓||| ||Yes
No
N/a||| ||||✓| They are valued at cost. The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 9.6.1.4. ## **Heritage assets** They are valued at cost. **Investments** Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments **Stocks and work in** Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net **progress** realisable value. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract. Debtors (including trade debtors and loans receivable) are measured on initial recognition at **Debtors** settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. The charity has has investments which it holds for resale or pending their sale and cash and **Current asset** cash equivalents with a maturity date less than one year. These include cash on deposit and **investments** cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments. |Yes
No
N/a|Yes
No
N/a|Yes
No
N/a| |---|---|---| |||✓| |Yes
No
N/a||| |||✓| |Yes
No
N/a||| |||✓| |Yes
No
N/a||| |||✓| |Yes
No
N/a||| |||✓| |Yes
No
N/a||| |||✓| |Yes
No
N/a||| |||✓| |Yes
No
N/a||| |||✓| |Yes
No
N/a||| |✓||| |Yes
No
N/a||| |✓||| |Yes
No
N/a||| |✓||| ## **POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM -�Significant judgements and estimates THOSE ABOVE** The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the charity accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies. ## **-�Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are amounts which have been set aside at the discretion of the trustees for specific but not legally binding purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **-�Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity pension scheme are charged to the Statement of Financial Activities in the period to which they relate. **Section C Notes to the accounts (cont)** ## **Note 3 Analysis of income** |**Note 3 Analysis of income**|**Analysis of income**|**Analysis of income**|**Analysis of income**|**Analysis of income**|**Analysis of income**|**Analysis of income**| |---|---|---|---|---|---|---| |**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
Donations and gifts
126,053- -126,053 132,861
Gift Aid
26,480 48-26,528 28,852
Legacies
- - - - -
General grants provided by government/other
charities
- - - - -
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donatedgoods,facilities and services
- - - - -
Other
- - - - -
**Total** 152,533 48 - 152,581 161,713
MAST
-78,742
-78,742 46,251
PGST
-53,615
-53,615 13,313
- - - - -
Other
8,468- -8,468 23,132
**Total** 8,468 132,357
-140,825 82,696
Fundraising
74- -74 2,610
Hire of Church Centre
180- -180 1,348
- - - - -
Other
- - - - -
**Total** 254 - -254 3,958
Interest income
39 179-217 414
Dividend income
- - - - -
Rental and leasing income
- - - - -
Other
- - - - -
**Total** 39 179 -217 414
- - - - -
- - - - -
- - - - -
- - - - -
**Total**
- - - - -
Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset held
forcharity's ownuse
- - - - -
Gain on disposal of a programme related
investment
- - - - -
Royalties from the exploitation of intellectual
propertyrights
- - - - -
Other
- - - - -
**Total**
- - - - -
161,293 132,584
-293,877 248,781
**Other information:**
**TOTAL INCOME**
**Other:**
**Other trading**
**activities:**
**Income from**
**investments:**
**Separate**
**material item**
**of income:**
**Analysis**
**Donations**
**and legacies:**
**Charitable**
**activities:**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**
**Analysis**|||||| ||Donations and gifts|126,053|-|-|126,053|132,861| ||Gift Aid|26,480|48|-|26,528|28,852| ||Legacies|-|-|-|-|-| ||General grants provided by government/other
charities|-|-|-|-|-| ||Membership subscriptions and sponsorships
which are in substance donations|-|-|-|-|| ||Donatedgoods,facilities and services|-|-|-|-|-| ||Other|-|-|-|-|-| ||**Total**|152,533|48|-|152,581|161,713| |||||||| ||MAST|-|78,742|-|78,742|46,251| ||PGST|-|53,615|-|53,615|13,313| |||-|-|-|-|-| ||Other|8,468|-|-|8,468|23,132| ||**Total**|8,468|132,357|-|140,825|82,696| |||||||| ||Fundraising|74|-|-|74|2,610| ||Hire of Church Centre|180|-|-|180|1,348| |||-|-|-|-|-| ||Other|-|-|-|-|-| ||**Total**|254|-|-|254|3,958| |||||||| ||Interest income|39|179|-|217|414| ||Dividend income|-|-|-|-|-| ||Rental and leasing income|-|-|-|-|-| ||Other|-|-|-|-|-| ||**Total**|39|179|-|217|414| |||||||| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| ||**Total**|-|-|-|-|-| |||||||| ||Conversion of endowment funds into income|-|-|-|-|-| ||Gain on disposal of a tangible fixed asset held
forcharity's ownuse|-|-|-|-|-| ||Gain on disposal of a programme related
investment|-|-|-|-|-| ||Royalties from the exploitation of intellectual
propertyrights|-|-|-|-|-| ||Other|-|-|-|-|-| ||**Total**|-|-|-|-|-| |||||||| |||161,293|132,584|-|293,877|248,781| |||||||| Income from MAST and PGST for additional staff salaries and costs (Charitable activities), which was £59,564 in total in 2019 **All income in the prior year was unrestricted except for:** (MAST: £46,251 and PGST £13,313) and £414 of interest **(please provide description and amounts)** earned on restricted funds held in savings accounts (investment income). **Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion.** **Where any endowment fund is converted into income in the prior period, please give the reason for the conversion.** CC17a (Excel) 07/06/2021 8 **Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)** CC17a (Excel) 07/06/2021 9 CC17a (EX￿1} 0710612021 **Section C Notes to the accounts (cont)** ## **Note 6 Analysis of expenditure** |**Analysis**
**Expenditure on raising funds:**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**|**Unrestricted**
**funds**
**Restricted**
**income funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**This year**
**Last year**| |---|---|---|---|---|---|---|---|---| |Incurred seeking donations|-|-|-|-|-|-|-|-| |Incurred seeking legacies|-|-|-|-|-|-|-|-| |Incurred seeking grants|-|-|-|-||||-| |Operating membership schemes and
social lotteries|-|-|-|-||||-| |Staging fundraising events|-|-|-|-||||-| |Fudraising agents|-|-|-|-||||-| |Operating charity shops|-|-|-|-||||-| |Operating a trading company
undertaking non-charitable trading
activity|-|-|-|-||||-| |Advertising, marketing, direct mail and
publicity|-|-|-|-|-|-|-|-| |Start up costs incurred in generating
new source of future income|-|-|-|-|-|-|-|-| |Database development costs|-|-|-|-|-|-|-|-| |Other trading activities|-|-|-|-||||-| |Investment management costs:|-|-|-|-||||-| |Portfolio management costs|-|-|-|-|-|-|-|-| |Cost of obtaining investment advice|-|-|-|-|-|-|-|-| |Investment administration costs|-|-|-|-|-|-|-|-| |Intellectual property licencing costs|-|-|-|-|-|-|-|-| |Rent collection, property repairs and
maintenance charges|-|-|-|-|-|-|-|-| ||-|-|-|-|-|-|-|-| |**Total expenditure on raising funds**|-|-|-|-|-|-|-|-| |**Expenditure on charitable activities:**||||||||| |Parish Share|99,460|94,691|-|194,151|98,002|13,312|-|111,314| |Salaries|22,904|32,982|-|55,886|19,708|42,353|-|62,060| |Church Running Expenses|43,851|4,621|-|48,472|63,298|3,899|-|67,197| ||-|-|-|-|-|-|-|-| |**Total expenditure on charitable**
**activities**|166,215|132,294|-|298,509|181,008|59,563|-|240,572| |**Separate material item of expense**||||||||| |Mission Giving|15,543|-|-|15,543|15,975|-89|-|15,886| ||-|-|-|-|-|-|-|-| ||-|-|-|-|-|-|-|-| |**Total**|15,543|-|-|15,543|15,975|- 89|-|15,886| |**Other**||||||||| |Depreciation|4,916|12,196|-|17,112|4,915|12,196|-|17,111| ||-|-|-|-|-|-|-|-| ||-|-|-|-|-|-|-|-| ||-|-|-|-|-|-|-|-| |**Total other expenditure**
**TOTAL EXPENDITURE**|4,916|12,196|-|17,112|4,915|12,196|-|17,111| ||186,674|144,490|-|331,163|201,899|71,670|-|273,569| ## **Other information:** CC17a (Excel) 07/06/2021 11 ## **Analysis of expenditure on charitable activities** |**Analysis of expenditure on charitable**|**activities**|**activities**|**activities**|**activities**||||| |---|---|---|---|---|---|---|---|---| ||**Thisyear**||||**Lastyear**|||| |**Activity or programme**|**Activities**
**undertaken**
**directly**|**Grant**
**funding of**
**activities**|**Support**
**Costs**|**Total this**
**year**|**Activities**
**undertaken**
**directly**|**Grant**
**funding of**
**activities**|**Support**
**Costs**|**Total last**
**year**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**| |Ministry (ParishShare, Salaries)|233,305|-|17,655|250,960|161,268|-|12,742|174,010| |Mission(ChurchGroups andActivities)|48,859|-|9,285|58,143|63,791|-|9,471|73,262| |Other(Establishment, Governance)|20,508|-|1,552|22,060|24,371|-|1,926|26,297| |**Total**|302,671|-|28,492|331,163|249,431|-|24,139|273,569| |||||||||| CC17a (Excel) 07/06/2021 12 ## **Section C Notes to the accounts** ## **Note 9 Support Costs** ## _**Please complete this note if the charity has analysed its expenses using activity categories and has support costs.**_ ## **This year** |**Support cost (examples)**|**Raising**
**funds**|**Ministry**|**Mission**|**Establishment**|**Grand total**|**Basis of allocation**| |---|---|---|---|---|---|---| ||**£**|**£**|**£**|**£**|**£**|**(Describe method)**| |Governance|-|-|1,050|-|1,050|| |Administration|-|-|2,687|-|2,687|| |Church Office running costs|-|-|1,851|-|1,851|| |Church Administrator Salary
and Pension|-|17,655|3,697|1,552|22,904|Based on duties and time
allocation| |Other|-|-|-|-|-|| |**Total**|-|17,655|9,285|1,552|28,492|| ## **Last year** |**Last year**||||||| |---|---|---|---|---|---|---| |**Support cost (examples)**|**Raising**|**Ministry**|**Mission**|**Activity 3**|**Grand total**|**Basis of allocation**| ||**£**|**£**|**£**|**£**|**£**|**(Describe method)**| |Governance|-|-|-|-|-|| |Administration|-|-|2,830|-|2,830|| |Church Office running costs|-|-|1,601|-|1,601|| |Church Administrator Salary
and Pension|-|12,742|5,040|1,926|19,708|Based on duties and time
allocation| |Other|-|-|-|-|-|| |**Total**|-|12,742|9,471|1,926|24,139|| _**Please provide details of the accounting policy adopted for the apportionment of costs between activities and any estimation techniques used to calculate their apportionment.**_ The Church administrator costs have been apportioned between Church activities based on duties/time spent, estimated as a proportion of the total expenditure in each area of Ministry, Mission and Establishment. CC17a (Excel) 07/06/2021 13 ## **Section C Notes to the accounts** ## **Note 10 Details of certain items of expenditure** ## **10.1 Fees for examination of the accounts** _**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).**_ |**Other fees (for example: financial advice, consultancy, accountancy services) paid**
**to the independent examiner**
**Independent examiner’s fees**
**Assurance services other than audit or independent examination**
**Tax advisory fees**|**This year**
**£**|**Last year**
**£**| |---|---|---| ||1,050|-| ||-|-| ||-|-| ||-|-| CC17a (Excel) 07/06/2021 14 ## **Section C Notes to the accounts (cont)** **Note 11 Paid employees - NB this does not include clergy who are employed directly by the Church of England, and for whom we pay a Parish Share** _**Please complete this note if the charity has any employees.**_ ## **11.1 Staff Costs** |**11.1 Staff Costs**|||| |---|---|---|---| |||**This year**|**Last year**| |||**£**|**£**| |**Salaries and wages**||21,246|18,276| |**Social security costs**||-|-| |**Pension costs (defined contribution scheme)**||1,658|1,432| |**Other employee benefits**||-|-| ||**Total staff costs**|22,904|19,708| |**This year:**|||| **Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party Last year:** **Please provide details of expenditure on staff working for the charity whose contracts are with and are paid by a related party** There were staff costs of 3 other employees who costs are reimbursed and paid for by the separate MAST charity. MAST Salary costs: £30,613 and Pension Contributions: £2,369 There were staff costs of 3 other employees who costs are reimbursed and paid for by the separate MAST charity. MAST Salary costs: £39,075 and Pension Contributions: £3,278 _**Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.**_ **No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000** nil |**Band**|**Number of employees**|**Number of employees**| |---|---|---| ||**This year**
-|**Last year**
-| |**£60,000 to £69,999**||| |**£70,000 to £79,999**|-|-| |**£80,000 to £89,999**|-|-| |**£90,000 to £99,999**|-|-| |**£100,000 to £109,999**|-|-| |||| |**Please provide the total amount paid to key management**
**personnel (includes trustees and senior management) for their**
**services to the charity. For specific amounts paid to trustees, see**
**Note 28.**||| ||**Thisyear**|**Lastyear**| ||**£**|**£**| ||-|-| CC17a (Excel) 07/06/2021 15 **11.2 Average head count in the year** **The parts of the charity in which the employees work** ||**This year**
**Number**|**Last year**
**Number**| |---|---|---| |**Fundraising**|-|-| |**Charitable Activities**|1|1| |**Governance**|-|-| |**Other**|-|-| |**Total**|1|1| ## **11.3 Ex-gratia payments to employees and others (excluding trustees)** _**Please complete if an ex-gratia payment is made.**_ **Please explain the nature of the payment** **This year Last year** **Please state the legal authority or reason for making the payment** **This year Last year** |**Please state the amount of the payment (or value of any waiver of a**
**right to an asset)**|**Thisyear**|**Lastyear**| |---|---|---| ||**£**
-
|**£**
-| CC17a (Excel) 07/06/2021 16 ## **11.4 Redundancy payments** ## _**Please complete if any redundancy or termination payment is made in the period.**_ |**The nature of the payment (cash, asset**
**etc.)**
**Total amount of payment**
**Please state the accounting policy for any redundancy or**
**termination payments**
**The extent of redundancy funding at the balance sheet date**|**Thisyear**|**Lastyear**| |---|---|---| ||**£**
-|**£**
-| |||| |||| |||| ||**Thisyear**|**Lastyear**| ||**£**
-|**£**
-| |||| |||| CC17a (Excel) 07/06/2021 17 **Section C Notes to the accounts (cont)** ## **Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.** ## _**12.1 Please complete this note if a defined contribution pension scheme is operated.**_ |**Please explain the basis for allocating the liability and expense of**
**defined contribution pension scheme between activities and**
**between restricted and unrestricted funds.**
**Amount of contributions recognised in the SOFA as an expense***
**(*includes MAST staff)**|**Thisyear**|**Lastyear**| |---|---|---| ||**£**|**£**| ||4,027|4,710| |||| ||The Church administrator
pension costs have been
apportioned between
Church activities based on
duties/time spent,
estimated as a proportion
of the total expenditure,
and are unrestricted funds.
MAST employee pension
costs are restricted and
have been allocated to
Ministry costs.|
The Church administrator
pension costs have been
apportioned between
Church activities based on
duties/time spent,
estimated as a proportion
of the total expenditure,
and are unrestricted funds.
MAST employee pension
costs are restricted and
have been allocated to
Ministry costs.| ## _**12.2 Please complete this section where the charity participates in a defined benefit pension plan but is unable to ascertain its share of the underlying assets and liabilities.**_ **Please confirm that although the scheme is accounted for as a defined** Not applicable **contribution plan, it is a defined benefit plan. Please provide such information as is available about the plan's surplus or deficit and the implications, if any, for** Not applicable **the reporting charity for this year and last year, if different** ## _**12.3 Please complete this section where the charity participates in a multi-employer defined benefit pension plan that is accounted for as a defined contribution plan.**_ **Describe the extent to which the charity can be liable to the plan for other entities' obligations under the terms** For details please refer to the "Church Workers Pension Fund" page in the APCM **and conditions of the multi-employer** 2020 Financial Report. **plan. If this is different for last year, provide details** **Provide an explanation of how any liability arising from an agreement with a multi-employer plan to fund a deficit** Not applicable **has been determined. If this is different for last year, provide details** CC17a (Excel) 07/06/2021 18 ## **Section C Notes to the accounts (cont)** ## **Note 14 Tangible fixed assets** ## _**Please complete this note if the charity has any tangible fixed assets**_ ## **14.1 Cost or valuation** |At the beginning of the year
Additions
Revaluations
Disposals
Transfers *
At end of the year
****Basis**
**** Rate**
At beginning of the year
Disposals
Depreciation
Impairment
Transfers*
At end of the year
Net book value at the beginning of the year
Net book value at the end of the year
**14.3 Net book value**
**14.2 Depreciation and impairments**|**Freehold land &**
**buildings**
**£**|**Other land &**
**buildings**
**£**|**Plant,**
**machinery and**
**motor vehicles**
**£**|**Fixtures, fittings and**
**equipment**
**£**|**Total**
**£**| |---|---|---|---|---|---| ||225,000|-|-|85,558|310,558| ||-|-|-|-|-| ||-|-|-|-|-| ||-|-|-|-|-| ||-|-|-|-|-| ||225,000|-|-|85,558|310,558| ||||||| ||Market Value|SL or RB|SL or RB|SL|SL or RB| ||Not applicable as
the market value
is at least equal to
the value in the
accounts.|||5 years|| ||||||| ||-|-|-|45,325|45,325| ||-|-|-|-|-| ||-|-|-|17,112|17,112| ||-|-|-|-|-| ||-|-|-|-|-| ||-|-|-|62,437|62,437| ||||||| ||225,000|-|-|40,233|265,233| ||225,000|-|-|23,122|248,122| CC17a (Excel) 07/06/2021 19 ## **14.4 Impairment** _**This year: Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_ _**Last year: Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.**_ ## **14.5 Revaluation** |**_the name of independent valuer, if applicable_**
**_the carrying amount that would have been recognised had the assets_**
**_been carried under the cost model._**
**_the methods applied and significant assumptions_**
**_the effective date of the revaluation_**
**_If an accounting policy of revaluation is adopted, please provide:_**|**This year**
**Last year**|**This year**
**Last year**| |---|---|---| ||
30/01/2021|
25/01/2020| ||Not applicable|Not applicable| ||The market value of
the property, obtained
from advice given by
local estate agents
Jackson Grundy.
Please note a full
professional valuation
has not been obtained
in respect of the
current accounting
period.|The market value of
the property, obtained
from advice given by
local estate agents
Jackson Grundy.
Please note a full
professional valuation
has not been obtained
in respect of the
current accounting
period.| ||£135,500 (purchase
price in July 2003)|£135,500 (purchase
price in July 2003)| ## **14.6 Other disclosures** |**_(iii) Details of the existence and carrying amounts of property, plant and_**
**_equipment to which the charity has restricted title or that are pledged as_**
**_security for liabilities._**
**_(i) Please state the amount of borrowing costs, if any, capitalised in the construction_**
**_of tangible fixed assets and the capitalisation rate used._**
**_(ii) Please provide the amount of contractual commitments for the acquisition of_**
**_tangible fixed assets._**|**Thisyear**|**Lastyear**| |---|---|---| ||**£**|**£**| ||-|-| ||-|-| |||| _* The "transfers" row is for movements between fixed asset categories._ _** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction._ CC17a (Excel) 07/06/2021 20 ## **Section C Notes to the accounts (cont)** ## **Note 19 Debtors and prepayments** ## _**Please complete this note if the charity has any debtors or prepayments.**_ |**_Please complete this note if the charity has any_**
**_debtors or prepayments._**
**Note 19 Debtors and prepayments**||| |---|---|---| |**19.1 Analysis of debtors**
**Trade debtors**
**Prepayments and accrued income**
**Other debtors**|**This year**
**£**|**Last year**
**£**| ||-|-| ||-|-| ||2,332.9|8,734.9| ||2,332.9|8,734.9| **Total** ## _**Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.**_ ## **19.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)** |**Prepayments and accrued income**
**Other debtors**
**Total**
**Trade debtors**|**This year**
**£**|**Last year**
**£**| |---|---|---| ||-|-| ||-|-| ||-|-| ||-|-| ||-|-| CC17a (Excel) 07/06/2021 21 ## **Section C Notes to the accounts (cont)** ## **Note 20 Creditors and accruals** ## _**Please complete this note if the charity has any creditors or accruals.**_ ## **20.1 Analysis of creditors** **Accruals for grants payable Bank loans and overdrafts Trade creditors Payments received on account for contracts or performance-related grants Accruals and deferred income Taxation and social security Other creditors** |**Total**|**Amounts falling due within**
**oneyear**|**Amounts falling due within**
**oneyear**|
**Amounts falling due after**
**more than oneyear**|
**Amounts falling due after**
**more than oneyear**| |---|---|---|---|---| ||**This year**
**£**|**Last year**
**£**|**This year**
**£**|**Last year**
**£**| ||-|-|-|-| ||-|-|-|-| ||-|-|-|-| ||-|-|-|-| ||38,952|28,980|-|-| ||-|-|-|-| ||-|-|-|-| ||38,952|28,980|-|-| ## **20.2 Deferred income** ## _**Please complete this note if the charity has deferred income.**_ |**_Please explain the reasons why income is deferred._**
**_Movement in deferred income account_**
**Balance at the start of the reporting period**
**Amounts added in current period**
**Amounts released to income from previous periods**
**Balance at the end of the reporting period**|**Thisyear**|**Lastyear**|**Lastyear**| |---|---|---|---| ||||| ||||| |||**This year**
**£**|**Last year**
**£**| |||-|-| |||-|-| |||-|-| |||-|-| CC17a (Excel) 07/06/2021 22 ## **Section C Notes to the accounts (cont)** ## **Note 24 Cash at bank and in hand** |**Note 24 Cash at bank and in hand**||| |---|---|---| |**Other**
**Cash at bank and on hand**
**Total**
**Short term cash investments (less than 3 months maturity date)**
**Short term deposits**|**This year**
**£**|**Last year**
**£**| ||-|-| ||-|-| ||96,681|100,481| ||-|-| ||96,681|100,481| CC17a (Excel) 07/06/2021 23 ## **Section C Notes to the accounts (cont)** ## **Note 27 Charity funds** ## **27.1 Details of material funds held and movements during the CURRENT reporting period** _**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_ _*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_ |**_funds_**||||||||| |---|---|---|---|---|---|---|---|---| |**Fund names**|**Type PE, EE**
**R or UR ***|**Purpose and Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**Gains and**
**losses**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**| |Moulton Parish Church funds|UR|General Church income and running costs|277,851|161,293|- 186,674|-|-|252,471.23| |Moulton Parish Church funds|R|Legacy Funds restricted to restoration of
the Church and investment in Church
assets|67,618|179|- 12,196|-|-|55,601| |MASTCharityfunds|R|MoultonStaffCosts|-|78,742|- 78,742|-|-|-| |PGSTCharityfunds|R|Church PlantVicarCosts|-|53,663|-53,551|-|-|111| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |**Total Funds**|||345,469|293,877|- 331,163|-|-|308,183| CC17a (Excel) 07/06/2021 24 **Section C Notes to the accounts (cont)** **Note 27 Charity funds (cont)** ## **27.2 Details of material funds held and movements during the PREVIOUS reporting period** _**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.**_ _*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_ |**_funds_**||||||||| |---|---|---|---|---|---|---|---|---| |**Fund names**|**Type PE, EE**
**R or UR ***|**Purpose and Restrictions**|**Fund**
**balances**
**brought**
**forward**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers**
**£**|**Gains and**
**losses**
**£**|**Fund**
**balances**
**carried**
**forward**
**£**| |Moulton Parish Church funds|UR|General Church income and running costs|290,866|188,884|-201,899|-|-|277,851.43| |Moulton Parish Church funds|R|Legacy Funds restricted to restoration of
the Church and investment in Church
assets|79,391|333|-12,106|-|-|67,618.00| |MAST Charity funds|R|Moulton Staff Costs|-|46,251|-46,251|-|-|-0.00| |PGST Charity funds|R|Church Plant Vicar Costs|-|13,313|-13,313|-|-|-| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |||||||||| |**Total Funds**|||370,257|248,781|- 273,569|-|-|345,469| CC17a (Excel) 07/06/2021 25 **Section C Notes to the accounts (cont)** ## **Note 27 Charity funds (cont)** ## **27.3 Transfers between funds** ## **This year** ||**Reason for transfer and where endowment is converted to income,**
**legalpower for its conversion**|**Amount**| |---|---|---| |Between unrestricted and
restricted funds|Not Applicable|| |Between endowment and
restricted funds|Not Applicable|| |Between endowment and
unrestricted funds|Not Applicable|| |||| ## **Last year** |**Lastyear**||| |---|---|---| ||**Reason for transfer and where endowment is converted to income,**
**legal power for its conversion**|**Amount**| |Between unrestricted and
restricted funds|Not Applicable|| |Between endowment and
restricted funds|Not Applicable|| |Between endowment and
unrestricted funds|Not Applicable|| |||| ## **27.4 Designated funds** ## **This year** **Planned use Purpose of the designation Amount** ## **Last year** **Planned use Purpose of the designation Amount** CC17a (Excel) 07/06/2021 26 CC17a IEx¢èll 27 0710612021 ## **Section C Notes to the accounts (cont)** ## **Note 28 Transactions with trustees and related parties** _**If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.**_ ## **28.1 Trustee remuneration and benefits** ## **This year** **None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)** **TRUE** _**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_ |**Name of trustee**|**Legal authority (eg**
**order, governing**
**document)**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**| |---|---|---|---|---|---|---| |||**Remuneration**|**Pension**
**contribution**|**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**|**Other**|**TOTAL**| |||**£**|**£**|**£**|**£**|**£**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| _**Please give details of why remuneration or other employment benefits were paid.**_ _**Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.**_ ## **Last year** **None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)** **TRUE** _**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_ |**Name of trustee**|**Legal authority (eg**
**order, governing**
**document)**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**| |---|---|---|---|---|---|---| |||**Remuneration**|**Pension**
**contribution**|**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**|**Other**|**TOTAL**| |||**£**|**£**||**£**|**£**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| _**Please give details of why remuneration or other employment benefits were paid.**_ CC17a (Excel) 07/06/2021 28 ## _**Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.**_ ## **28.2 Trustees' expenses** _**If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".**_ |**No trustee expenses have been incurred (True or False)**||**_FALSE_**| |---|---|---| |||| |**Type of expenses reimbursed**|**This year**|**Last year**| ||**£**|**£**| |**Travel**|-|-| |**Subsistence**|5,595|3,923| |**Accommodation**|-|-| |**Other (please specify):**|-|-| ||-|-| |**TOTAL**|5,595|3,923
| |**Please provide the number of trustees reimbursed for expenses or who**
**had expenses paid by the charity**||| ||**5**|**5**| ## **28.3 Transaction(s) with related parties** _**Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.**_ ## **This year** **There have been no related party transactions in the reporting period (True or False)** |**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad**
**debts at period end**|**Amounts**
**written off**
**during**
**reporting**
**period**| |---|---|---|---|---|---|---| ||||**£**|**£**|**£**|**£**| |**PCC Members**|**Trustees**|**Aggregate Donations**
**received without**
**conditions**|**31,063**|||| |||||||| |||||||| |||||||| |**_For any related party, please provide details of any_**
**_guarantees given or received._**
**_In relation to the transactions above, please provide the_**
**_terms and conditions, including any security and the nature_**
**_of any payment (consideration) to be provided in_**
**_settlement._**||||||| ||||Not applicable|||| |||||||| ||||Not applicable|||| CC17a (Excel) 07/06/2021 29 ## **Last year** **There have been no related party transactions in the reporting period (True or False)** |**Name of the trustee**
**or related party**|**Relationship**
**to charity**|**Description of the**
**transaction(s)**|**Amount**|**Balance at**
**period end**|**Provision for bad**
**debts at period end**|**Amounts**
**written off**
**during**
**reporting**
**period**| |---|---|---|---|---|---|---| ||||**£**|**£**|**£**|**£**| |**PCC Members**|**Trustees**|**Aggregate Donations**
**received without**
**conditions**|**30,880**|||| |||||||| |||||||| |||||||| |**_For any related party, please provide details of any_**
**_guarantees given or received._**
**_In relation to the transactions above, please provide the_**
**_terms and conditions, including any security and the nature_**
**_of any payment (consideration) to be provided in_**
**_settlement._**||||||| ||||Not applicable|||| |||||||| ||||Not applicable|||| CC17a (Excel) 07/06/2021 30 **St Peter and St Paul, Moulton for the year ended 31 December 2020** ## **Financial Statements of the Parochial Church Council** Charity law now requires that the church provides all the detail about its financial affairs that have appeared on display outside the church for the past fortnight. Regular income of the church continued to exceed £250,000 during 2020, therefore the accounts are prepared on an accruals basis. Further copies of the reports that have been on display are available for those who require them and are on display this evening. The aim of this handout is to provide a simplification of the current financial position in a format that is more familiar to people. There are also a few questions and answers to some frequently asked questions. ## **Financial Highlights** ## **Q1 - Could you briefly explain the 2020 financial results?** A - The total income for the church in 2020 was £293,877 (including MAST and PGST income), with total expenditure of £331,163 (including MAST and PGST expenditure). ## **Q2 – Why did Expenditure exceed Income by £37,286 during 2020?** A - The total deficit of £37,286 consisting of non-cash depreciation charge of £17,112, and cash deficit of £20,175 on underlying Church activities. The cash deficit of £20,175 was mainly as a result of lower regular income due to the impact of Covid on Services and Church activities. **DEPRECIATION:** T4C Assets, the Church Organ, Sound system, computer and Church Hall Stairlift are being depreciated by 20% per year for 5 years, which has resulted in the charge of £17,112 in 2020. **INCOME:** Overall income (excluding MAST and PGST income) was down by £27,698 in 2020 vs 2019, due to lower income from service collections, weddings, and Church clubs, as a result of the Church suspending live Services and Church activities during the Covid lockdown. **EXPENDITURE:** £15,199 lower in 2020 than 2019 (excluding MAST and PGST expenditure). The cost of running Church groups and activities and lower maintenance costs helped to reduce costs during 2020. Although more costs, such as Parish Share, tend to be fixed in the short term and do not fluctuate with Church activity, which explains the lower decrease in costs, relative to the reduction in income. ## **Q3 - Does MAST/PGST make a big difference to the financial picture?** A - Yes and No. MAST and PGST provides significant funding to enable the church to employ additional workers and pays many of the costs associated with that. However, it only pays the costs incurred so the net impact on the financial position of the church itself is minimal. ## **Q4 - What are the main areas of expenditure?** A – The main ongoing cost for the church remains the Parish Share that we pay to the Diocese. At £99,460 (excluding Church Plant and Associate Vicar costs) this accounts for 50% of the church's unrestricted expenditure. After that are salaries for church staff and the general running of the church/church centre. ## **Q5 - Has our Parish Share continued to rise?** A – During 2020 Parish share costs increased by 1.5% for inflation, we also saw additional Parish share costs relating to the Church Plant and Associate Vicars. Curate costs were covered by the Diocese. Parish share costs of the Church Plant Vicar, responsible for setting up a new Church in Duston, are funded through PGST, and the Local Associate Vicar is funded through MAST. ## **Q6 - How much does the church give to other groups, outside of the immediate life of the church?** A - Around 10% of regular giving went to other groups, in line with the policy of the PCC, and this again included 10% of the money recovered from HMRC on Gift Aided donations. ## **Q7 - How much money does the church have available in the bank?** A - The church has c.£96,411 in different bank accounts, which sounds extremely healthy. However, a significant amount of this money is restricted in how it can be used, for example for Restoration works to the church building. ## **Q8 - How are things looking for 2021 and further ahead?** A –There is a need to increase regular giving and income for the PCC, to provide ongoing support to the Church Plant in Duston, to rebalance income and expenditure in 2021 and beyond, along with eventually being able to replenish the reserve funds that were used to fund the cash deficit of £20,715 during 2020. ## **Church Workers Pension Fund (CWPF) FRS102 - December 2020 Year End** **St Peter & St Paul, Moulton** participates in the Pension Builder Scheme section of CWPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers. The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014. ## **Pension Builder Scheme** The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes. Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors. Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable **(2020: £4,027, 2019: £4,710).** A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31 December 2019. For the Pension Builder Classic section, the valuation revealed a deficit of £4.7m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time. For the Pension Builder 2014 section, the valuation revealed a surplus of £2.3m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. The legal structure of the scheme is such that if another employer fails, **St Peter & St Paul, Moulton** could become responsible for paying a share of that employer’s pension liabilities. ## **Independent Examiner's Report to the Trustees of Parochial Church Council, St Peter and St Paul, Moulton** I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. 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: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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. ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our independent examination work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our independent examination work, for this report, or for the opinions we have formed. Nicola Fox (FCA) DNG Dove Naish LLP Eagle House 28 Billing Road Northampton NN1 5AJ Date: 18 May 2021