St Peter's with St Owen and St James' Parochial Church Council
Report and Accounts
For The Year Ended
31 December 2021
Registered Charity Number 1133769
## **St Peter's with St Owen and St James' Parochial Church Council Report and accounts Contents**
||**Page**|
|---|---|
|Charity information|**1**|
|Trustees' Report|**1**|
|Statement of Trustees' responsibilities|**9**|
|Independent Examiner's report|**10**|
|Statement of Financial Activities|**12**|
|Income and Expenditure account|**13**|
|Statement of total recognised gains and losses|**13**|
|Movements in Accumulated Funds|**14**|
|Balance sheet|**15**|
|Notes to the accounts|**16**|
|Detailed Statement of Financial Activities|**24**|
## **St Peter's with St Owen and St James' Parochial Church Council**
## **The report of the trustees for the year ended 31 December 2021**
## **Introduction**
The trustees present their annual report and financial statements for the year ended 31st December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as applied to small entities by section 1A of the standard) (effective 1 January 2015).
The board of trustees are satisfied with the performance of the charity during the year and the position at 31st December 2021 and consider that the charity is in a position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil obligations.
## **Name, registered office and constitution of the charity**
The full name of the charity is St Peter's with St Owen and St James' Parochial Church Council.
The legal registration details are :-
_Date of formation_ 26 January 2010 _The Principal Office is_ St Peter's and St James Parish Office, St Peter's Church, St Peter's Close, Hereford. HR1 2DL _Charity Registration Number_ 1133769 _The telephone number is_ (01432) 275373
## **Objectives and Activities of the Charity**
## _**Governing document.**_
Parochial Church Council Powers Measure (1956) as amended and church representation rules.
## _**Public benefit that is provided by the charity**_
In drafting this report the trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
## _**An explanation of the charity's main objectives for the year.**_
The PCC in co-operation with the Leadership Team has responsibility for promoting in the ecclesiastical parish the whole pastoral, evangelistic and ecumenical mission of the Church.
The PCC is the legal body constituted to take responsibility for the overall life of the church in the parish and in this regard it has been important that the PCC has been fully engaged in both regular review if progress and in forward-looking development planning. Throughout the year the Council has worked with the Leadership Team in ensuring that all aspects of the Church's work are reviewed and talked through.
1
## **St Peter's with St Owen and St James' Parochial Church Council**
## **The report of the trustees for the year ended 31 December 2021**
## **Achievements and Performance of the Charity**
## _**A review of charitable activities undertaken by the charity**_
## **Church attendance**
The Electoral Roll number returned to the Diocese in 2021 was 127 compared with a figure of 124 in the returns for 2020.
## **Review of the year**
In some ways this year was a reversal of the previous, in 2020 we started the first three months with life as normal before that first lockdown when our lives changed. In 2021, we started the first three months in lockdown and then slowly had to come to terms with a new normal as we adjusted back.
In the first three months of 2021 much of what we did continued to be online, our services, weekly prayer times and a Lent course on prayer, with the pastoral care phone tree set up in 2020 continuing to prove invaluable to make sure people did not feel isolated or alone. The lockdown ended in time for Easter but with many restrictions on church activity it was a very different celebration as we were forced to sing outside.
A great deal of work was taking place behind the scenes as work continued on the SPSJ project to bring in the new staff team. In the summer we were joined by another curate and successful in appointing a Youth and Digital Lead and a Children and Families worker, unfortunately the later decided this was not the job for them and handed in their resignation. We were initially unsuccessful in appointing a Head of Operations, but after making some changes to the role and readvertising, we were able to fill this post later in the year. Our current curate had come to the end of their 3 year minimum training period and after applying for various posts was successful in being appointed head of children, youth and families at a large church in Croydon.
**With the new team in place the project began to take shape** , **with a new office created in Church** House for them. As restrictions on activity began to ease we were able to have a service with Bishop Richard to officially launch the project and we saw a new midweek service at St Peter’s aimed primarily at young adults called The Nave, Kintsugi Hope returning to St Peter’s on their latest tour along with 2 pilot courses of the wellbeing groups, and St Peter’s officially became a Talk Community Hub working with Herefordshire Council. Part of the project was also to enable St Peter’s to be open more during the week, a new stewarding rota was established and we benefited from the closure of the Shirehall opposite, with both the English Symphony Orchestra and the Hereford Symphony Orchestra holding concerts in the building.
During the year we also saw the return of other church activities such as Community Lunch, Messy Church, a Light Party for our families, Children’s groups on a Sunday, worship practices, and indoor carol services for Christmas. ctober also saw the faculty finally being submitted for the long awaited phase 1 reordering of St James Church.
2
## **St Peter's with St Owen and St James' Parochial Church Council**
## **The report of the trustees for the year ended 31 December 2021**
The year also brought positive news for our two primary schools, with St Thomas Cantilupe being rated Good in all areas in their follow up Ofsted monitoring visit, and St James being rated Excellent by SIAMS under the new framework, something we had been told was very difficult to achieve.
Despite all of the positive things that happened in 2021, it was a tough year for many of us, mentally and physically, coping with the ever changing guidelines, recognising different levels of anxiety within the congregations, the need to form new teams of volunteers as things reopened, and adjust back to the demands of the old routine. Like in 2020, we again had to mourn the death of two much loved long term members of SPSJ in Wendy Rosser and Ellie Gregory, as well as saying goodbye to Andrew and Beryl Sellars as they moved to be nearer to family.
I am very grateful to everyone who has helped to get us through 2021, it has been a huge effort from so many people and as a church you have once again showed the resilience of faith to persevere in this time of trial. I am grateful to God for the provisions that we have seen and the position we find ourself in with new people having joined SPSJ and the secure financial position we find ourselves in at a time when many organisations are struggling. It sets us up well to respond to God’s call in 2022 as we all continue to emerge from the global pandemic.
## **Structure, Governance and Management**
## _**Nature of the Governing Document and constitution of the charity**_
St Peter's with St Owen and St James PCC is run in accordance with the Charities Act 2011, the Parochial Church Council Powers Measure (1956) as amended and the Church Representation Rules.
## _**The methods adopted for the recruitment and appointment of new trustees**_
The Trustees are also Members of the PCC and are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.
3
## **St Peter's with St Owen and St James' Parochial Church Council**
## **The report of the trustees for the year ended 31 December 2021**
## _**PCC Membership**_
Members of the PCC during the year are detailed on pages 6 to 7 below.
## _**The organisational structure of the charity and how decisions are made.**_
## **Committees**
The PCC operates through a committee, which meets as required between full meetings of the PCC. This structure was reviewed in May 2018 and the committees below have operated since then.
## **Standing Committee**
This is the only PCC committee required by law. It has the power to transact the business of the PCC between its meetings, subject to any directions given by the council.
## _**Policies on reserves**_
It is the policy of the PCC to maintain sufficient reserves for the day-to-day running requirements. In addition to Unrestricted funds, Reserves Note 17 to the Accounts details the resources available held as Restricted Funds.
## _**The investment policy and objectives.**_
Investments are held for the long-term and the PCC continue to monitor performance on a regular basis. The unrealised gain / (loss) on investment assets of £1,855 (2020: £2,045) represents an decrease in the market value in the year.
## _**Availability and adequacy of assets of each of the funds**_
The board of trustees is satisfied that the charity's assets in each fund are available **and adequate to fulfil its obligations in respect of each fund** .
## _**Transactions and Financial position**_
The financial statements are set out on pages 12 to 27.
The Statement of Financial Activities show net income/(expenditure)for the year of a revenue nature of £7,450 (2020 £59,145).
The total reserves at the year end after accounting for unrealised gains/(losses) after revaluing investments of £38,598 (2020 £36,743), stand at £935,798 (2020 £926,493).
Details of legacies received are included in the notes to the accounts page 16.
Free unrestricted liquid reserves amounted to £51,094 (2020 £59,285). Further details of funds can be found in note 17 of the accounts.
## _**Specific changes in fixed assets**_
Except for the acquisition of office furniture and equipment there have been no movements in fixed assets.
4
**St Peter's with St Owen and St James' Parochial Church Council**
**The report of the trustees for the year ended 31 December 2021**
**The name of the Chief Executive Officer and other senior staff member(s) to whom day to day management of the charity is delegated by the charity trustees.**
## **Standing Committee**
Rev. Andy Morgan (Vicar) Mr Andy Butterfill Mr Peter Strevens Mr Stephen Turner Mr Richard Paske Mr Simon Lind Mrs Tanya Brooks Mr Andrew Newton
**PCC Members** Rev Andy Morgan (Vicar) Rev Andy Dodwell (Associate Minister) Rev Elliot Swattridge (to Jan 2022) Rev Luke Aylen (from July 2021) **Elected PCC Members St James'** Mrs Mary Bennett Mrs Jenny Brooks Mrs Gill Holder Mr Simon Lind (Vice Chair) Dr Jenny Litchfield **St Peter’s M** rs anya roo **T B k** s Dr Donald Langford Mr Tim Simpson Mrs Rachel Loynes Dr Andy Butterfill
5
## **St Peter's with St Owen and St James' Parochial Church Council**
## **The report of the trustees for the year ended 31 December 2021**
## **Treasurer**
Mr Andy Butterfill **Ex-officio PCC members**
## **Deanery synod reps**
Mr Guy Rawlinson Mr Geoff Loynes **Churchwardens** (also Ex Officio) **St Peter's** Mr Peter Strevens Mr Richard Paske **St James'** Mr Andrew Newton (appointed June 2021) Mr Stephen Turner
## **Deputy Church Wardens St Peter's**
Mrs Tanya Brooks Mrs Brenda Lind Mrs Janet Strevens **St James' None**
**Parish Administrators**
Mrs Margaret Simpson **PCC Secretary Mrs Margaret Simpson Children, Youth and Digital Lead** Miss Heather Martin
6
## **St Peter's with St Owen and St James' Parochial Church Council**
## **The report of the trustees for the year ended 31 December 2021**
## **The members of the Board of Trustees of the Charity during the year ended 31st December 2021 were :-**
Rev A. Morgan Rev A. Dodwell Mrs T. Brooks Mr D. Clark (resigned June 2021) Mrs J. Brooks Mrs G. Holder Mr G. Rawlinson Mr P. Strevens Mr R. Paske Mr S. Turner Mr S. Lind
Rev L. Aylen (appointed July 2021) Rev E. Swattridge (to Jan 2022) Mrs M. Bennett Dr D. Langford Mr T. Simpson Ms R. Loynes Mr G. Loynes Dr J. Litchfield Dr A. Butterfill Mr A. Newton (appointed June 2021)
## **The members of the Board of Trustees of the Charity at the date the report and accounts were approved were:-**
Rev A. Morgan Rev A. Dodwell Mrs T. Brooks Mr D. Clark (resigned June 2021) Mrs J. Brooks Mrs G. Holder Mr G. Rawlinson Mr P. Strevens Mr R. Paske **Mr S. Turner** Mr S. Lind
Rev L. Aylen (appointed July 2021) Mrs M. Bennett Dr D. Langford Mr T. Simpson Ms R. Loynes Mr G. Loynes Dr J. Litchfield Dr A. Butterfill Mr A. Newton (appointed June 2021)
## **Bankers**
CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ
## **Independent Examiner**
Gareth Vale Chartered Certified Accountant Ground Floor Offices Bastion Mews Union Street Hereford HR1 2BT
7
## **St Peter's with St Owen and St James' Parochial Church Council**
## **The report of the trustees for the year ended 31 December 2021**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and o the incoming resources and application of resources, including income and expenditure, of the charity for that period. In preparing these financial statements,
the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **This report was approved by the board of trustees on 15 May 2022.**
## **Rev. A. Morgan Trustee**
8
**St Peter's with St Owen and St James' Parochial Church Council Independent Examiner's Report to the trustees of the charity**
## **Report of the Independent Examiner to the trustees**
## **on the accounts of the Charity for the year ended 31 December 2021**
I report on the accounts of St Peter's with St Owen and St James' Parochial Church Council, charity number 1133769, for the year ended 31 December 2021, which are set out on pages 12 to 27.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with general Directions given by the Charity Commission. 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 **i** n an au **di** t, an **d** consequent y no op n on s g ven as to w **l i i i i h** et **h** er t **h** e accounts present a true an **‘ d f** a r **i ’** view and the report is limited to those matters set out in the statement below.
**9**
## **Independent Examiner's Statement, report and opinion**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
In connection with my examination, no matter has come to my attention
The Examiner's relevant professional qualification or body: Chartered Certified Accountant
Gareth Vale Chartered Certified Accountant Ground Floor Offices Bastion Mews Union Street Hereford HR1 2BT
The date upon which my opinion is expressed is :-
15 May 2022
**10**
## **St Peter's with St Owen and St James' Parochial Church Council Statement of Financial Activities for the year ended 31 December 2021**
|**Notes**
**Income and endowments from:**
Voluntary Income
Activities for generating funds
Investment Income
**_Incoming resources from charitable activities_**
**Total income**
**_Costs of generating funds_**
Costs of generating voluntary income
**_Costs of charitable activities_**
**_Governance costs_**
**Total expenses**
**Net income**
**before transfers between funds**
**Transfers between funds**
**Net income before**
**Other recognised gains and losses**
**Other recognised gains and losses**
**_Gains on revaluation of fixed assets for charity's own use_**
**_Gains on investment assets_**
**Net income**
**Reconciliation of funds**
**_Total funds brought forward_**
**Total Funds carried forward**|**Unrestricted Restricted**
**Total**
**Last Year**
**Funds**
**Funds**
**Funds**
**Total Funds**
**2021**
**2021**
**2021**
**2020**
**£**
**£**
**£**
**£**
106,855
45,109
151,964
217,763
-
-
-
-
278
814
1,092
1,651
18,830
-
18,830
17,449
**125,963**
**45,923**
**171,886**
**236,888**
424
-
424
894
113,662
49,940
163,602
176,439
410
-
410
410
114,496
49,940
164,436
177,743
11,467
(4,017)
7,450
59,145
(19,658)
19,658
-
-
(8,191)
15,641
7,450
59,145
-
-
-
169,505
2,879
(1,024)
1,855
2,045
(5,312)
14,617
9,305
230,695
501,098
425,395
926,493
695,798
**495,786**
**440,012**
**935,798**
**926,493**|
|---|---|
**All activities derive from continuing operations**
**The notes on pages 16 to 23 form an integral part of these accounts.**
11
## **St Peter's with St Owen and St James' Parochial Church Council Statement of Financial Activities for the year ended 31 December 2021**
## **Income and Expenditure Account for the year ended 31 December 2021**
|**2021**
**£**
**Turnover**
170,794
Direct costs of turnover
164,026
**Gross surplus**
6,768
Governance costs
410
**Operating surplus**
6,358
Interest receivable
1,092
**Surplus on ordinary activities before tax**
7,450
**Surplus for the financial year**
7,450
**Retained surplus for the financial year**
7,450
**All activities derive from continuing operations**
**The notes on pages 16 to 23 form an integral part of these accounts.**|**2020**
**£**
235,237
177,333
57,904
410
57,494
1,651
59,145
59,145
59,145|
|---|---|
|**Statement of Total Recognised Gains and Losses**
**for the year ended 31 December 2021**
Excess of Expenditure over income before realisation of assets
Profit per Profit and Loss account
Unrealised Gains on investments
Gains on revaluation of fixed assets for charity's own use
**Net Movement in funds before taxation**|**2021**
**2020**
7,450
59,145
7,450
59,145
1,855
2,045
-
169,505
9,305
230,695|
|---|---|
12
## **St Peter's with St Owen and St James' Parochial Church Council Statement of Financial Activities for the year ended 31 December 2021**
## **Movements in revenue and capital funds for the year ended 31 December 2021**
|**Revenue accumulated funds**||**Unrestricted **|**Restricted**|**Total**|**Last year**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**Total Funds**|
|||**2021**|**2021**|**2021**|**2020**|
|||**£**|**£**|**£**|**£**|
|Accumulated funds brought forward||501,098|240,960|742,058|680,868|
|Recognised gains and losses before transfers||14,346|(4,017)|10,329|230,695|
|Transfers between restricted and unrestricted funds||515,444
(19,658)|236,943
19,658|752,387
-|911,563
-|
|**Closing revenue accumulated funds**||495,786|256,601|752,387|911,563|
|**The notes on pages 16 to 23 form an integral part of these**||**accounts.**||||
|**Revaluation Reserve Fund**||**Unrestricted **|**Restricted**|**Total**|**Last year**|
|At 1 January||**Funds**
**2021**
**£**
-|**Funds**
**2021**
**£**
169,505|**Funds**
**2021**
**£**
169,505|**Total Funds**
**2020**
**£**
-|
|At 31 December||-|169,505|169,505|-|
|**Summary of funds**|**Designated **|**Unrestricted **|**Restricted**|**Total**|**Last Year**|
||**Funds**|**Funds**|**Funds**|**Funds**|**Total Funds**|
||**2021**|**2021**|**2021**|**2021**|**2020**|
|Revenue accumulated funds|-|495,786|256,601|752,387|911,563|
|Endowment funds|-|-|13,906|13,906|14,930|
|**Total funds**|-|495,786|440,012|935,798|926,493|
**The notes on pages 16 to 23 form an integral part of these accounts.**
13
## **St Peter's with St Owen and St James' Parochial Church Council Balance Sheet**
## **as at 31 December 2021**
|**Notes**
**2021**
**£**
**_The assets and liabilities of the charity :_**
**Fixed assets**
Tangible assets
11
589,505
Investments
12
38,598
**_Total fixed assets_**
628,103
**Current assets**
Debtors
13
16,396
Cash at bank and in hand
296,957
**_Total current assets_**
313,353
**Creditors:-**
amounts due within one year
14
(5,658)
**_Net current assets_**
307,695
**_Total assets less current liabilities_**
935,798
**Net assets including pension asset / liability**
935,798
**_The funds of the charity :_**
**Unrestricted income funds**
Unrestricted revenue accumulated funds
495,786
**D**
**i**
**t** **d**
**f**
**d**
es gna e revenue un s
-
**Unrestricted capital funds**
Designated fixed asset funds
-
**Total unrestricted funds**
495,786
**Restricted income funds**
Restricted revenue accumulated funds
256,601
**Restricted capital funds**
Restricted revaluation reserve
169,505
**Total restricted funds**
426,106
**Endowment funds**
13,906
**Total charity funds**
935,798|**2020**
**£**
589,505
36,743
626,248
14,560
289,452
304,012
(3,767)
300,245
926,493
926,493
501,098
-
-
501,098
240,960
169,505
410,465
14,930
926,493|
|---|---|
**Rev. A. Morgan Trustee Approved by the board of trustees on 15 May 2022**
**The notes on pages 16 to 23 form an integral part of these accounts.**
14
## **St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts for the year ended 31 December 2021**
## **1 Accounting policies**
## _**Basis of preparation of the accounts**_
The accounts have been prepared under the historical cost accounting convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as applied to small entities by section 1A of the standard) (effective 1 January 2015) and the Charities Act 2011 and applicable regulations, except for investments which are stated at market value.
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. With respect to the next reporting period, 2020-21, the most significant area of uncertainty which affects the carrying value of assets held by the Charity is the level of investment return and the performance of investment markets (see the investment policy and performance and risk management sections of the Trustees annual report for more information.)
## _**Accounting convention**_
The financial statements are prepared,on a going concern basis, under the historical cost convention except for investments and certain properties which have been included at market and insurance valuation respectively.
## _**Incoming Resources**_
Incoming resources are accounted for on a receivable basis
## **Voluntary income and capital sources**
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant is recognised only when received.
Rental income from letting of the church properties is recognised when the rental is due.
## _**Investment Income**_
Bank interest and dividend income is included on an actual receipts basis.
## _**Recognition of liabilities**_
Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the Statement of Recommended Practice for Accounting and Reporting (revised June 2008), issued by the Charity Commissioners for England & Wales
## _**Resources Expended**_
## **Grants**
Grants and donations are accounted for when paid over in accordance with any specific terms
## **Activities directly relating to the work of the Church**
The parish share is accounted for when payable. Any share unpaid at 31 December would be provided for in these accounts as an operational (though not legal) liability and would be shown as a creditor in the balance sheet.
15
## **St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts for the year ended 31 December 2021**
## _**Unrealised and realised gains**_
Unrealised gains and losses are computed by reference to the market value of the investments at the balance sheet date, compared to the brought forward cost or valuation, and gains and losses arising on similar categories of investments are netted off.
## _**Stocks and work in progress**_
Stocks are valued at the lower of cost and net realisable value.
## _**Inalienable assets**_
No value is placed on the moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities and seperately disclosed.
## _**Investments held by the charity**_
Investments are stated at market value at the balance sheet date and unrealised gains and losses are shown on the Statement of Financial Activities.
## _**Fixed assets and depreciation**_
Consecrated and beneficial property is excluded from the accounts by Section 10(2)(a) of the Charities Act 2011.
## **Depreciation**
No provision for depreciation of tangible fixed asset properties have been made.
FRS 15 requires that all non-investment properties are to be depreciated over their anticipated useful lives. However the tangible fixed asset properties are not depreciated because their useful lives are considered by the trustees to be well in excess of 100 years and any depreciation charge would be immaterial. To depreciate would not add to the true and fair view presented in the accounts. An annual review is carried out to ensure that this is still the case.
## _**Taxation**_
As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the charity , and is therefore included in the relevant costs in the Statement of Financial Activities.
## _**Funds structure policy**_
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.
Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully the monitor the application of those funds in accordance with the restrictions placed upon them.
## _**Accounting for Legacies**_
Entitlement is taken at the earlier of the date at which the estate is finalised or when a distribution is received from the estate. During the year the charity received legacies to the value of £30,029, these funds have allocated to the Ministry Development fund in accordance as per the benefactors wishes.
16
## **St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts for the year ended 31 December 2021**
## **2 Winding up or dissolution of the charity**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
|**3**|**Surplus for the financial year**|**2021**|**2020**|
|---|---|---|---|
|||**£**|**£**|
||**This is stated after crediting :-**|||
||**Revenue Turnover from ordinary activities**|170,794|235,237|
||**and after charging:-**|||
||Independent Examiner's Fees|410|410|
- **4 Statement that no expenses were paid to trustees or connected persons**
No expenses were paid to trustees or persons connected with them.
## **5 Detailed analysis of certain transactions required by the 2005 revision to the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (effective April 2005 and revised June 2008)**
Various items which are required by the 2005 revision to the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (revised June 2008) to be disclosed in the notes to the accounts are set out in the Detailed Schedule to the Statement of Financial Activities and its appendices on pages 24 to 27 which should be read together with these notes.
## **6 Material legacies that have been notified but not included in the Statement of Financial Activities**
No material legacies have been notified.
|**7**|**Investment Income**|**2021**|**2020**|
|---|---|---|---|
|||**£**|**£**|
||Bank interest and dividend income received|1,092|1,651|
## **8 Analysis of grants payable in furtherance of the charity's objects**
An analysis of grants by activity is included in the detailed schedule to the Statement of Financial Activities.
17
## **St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts**
**for the year ended 31 December 2021**
|**9**|**Staff Costs and Emoluments**|**2021**|**2020**|
|---|---|---|---|
|||**£**|**£**|
||Gross Salaries|1,760|2,876|
||**Numbers of full time employees or full time equivalents**|**2021**|**2020**|
||Engaged on charitable activities|1|3|
||There were no fees or other remuneration paid to the trustees|||
||There were no employees with emoluments in excess of £60,000 per annum|||
## **10 Trustees' Remuneration**
Neither the trustees nor any persons connected with them have received any remuneration, either in the current year or the prior year.
## **11 Tangible functional fixed assets**
|**Freehold**
**Land and**
**buildings**
**Leasehold**
**Land and**
**Buildings**
**£**
**£**
**Asset cost, valuation or revalued amount**
At 1 January 2021
589,505
-
At 31 December 2021
589,505
-
**Net book value**
At 31 December 2021
589,505
-
At 31 December 2020
589,505
-
Freehold land at valuation included above not depreciated
Church House
Close House
61 Lichfield Avenue, Hereford 54.48% share|**Plant,**
**Machiner**
**y &**
**Vehicles**
**£**
-
-
-
-
**2021**
**£**
340,000
80,000
169,505
589,505|**Total**
**£**
589,505
589,505
589,505
589,505
420,000
**2020**
**£**
340,000
80,000
169,505
589,505|
|---|---|---|
No depreciation has been charged on the properties as their useful lives are considered by the Trustees to be well in excess of 100 years and that any depreciation charge would be immaterial.
All assets are used for direct charitable purposes and there are no inalienable or heritage assets
18
**St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts for the year ended 31 December 2021**
Close House was originally included in the accounts at £10 but was valued in 2006 at £80,000 by Watkins and Thomas LLP, Estate Agents. Church House was also valued at £340,000 again by Watkins and Thomas LLP, Estate Agents. The Trustees have not updated the valuation because they are not aware of any material change in value.
During the previous year the charity were informed by the Herefordshire Diocesan Board of Finance that it's 54.48% interest in a property, 61 Lichfield Avenue, Hereford, had not been correctly recorded by them in there records as such the charity were unaware of it. As such the charity has restated the accounts to include the property at the valuation as provided by the Herefordshire Diocesan Board of Finance.
## **12 Fixed Asset Investments**
|**Valuation**
Market value at 1 January 2021
Net unrealised gain/(loss)
on revaluation of investments
**Market value at 31 December 2021**
Cash held by investment advisors
**Total Investments including cash**
**Total Investments including cash**
**Analysis of investments between UK**
Investment assets in the UK
Investment assets outside the UK
**Total market value**
Investment assets in the UK
Investment assets outside the UK
**Total market value**|**Property**
**Listed**
**Unlisted**
**2021**
**Investments**
**Investments Investments**
**Total**
**£**
**£**
**£**
**£**
-
36,743
-
36,743
-
1,855
-
1,855
-
38,598
-
38,598
-
**At 31 December 2021**
38,598
**At 1 January 2021**
36,743
**investments and investments outside the UK**
**Property**
**Listed**
**Unlisted**
**2021**
**Investments**
**Investments Investments**
**Total**
-
38,598
-
38,598
-
-
-
-
-
38,598
-
38,598
**Property**
**Listed**
**Unlisted**
**2020**
**Investments**
**Investments Investments**
**Total**
-
36,743
-
36,743
-
-
-
-
-
36,743
-
36,743|
|---|---|
19
## **St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts for the year ended 31 December 2021**
**Listed Investments include the following material items :-**
||**Security**|**Type of share**|**Holding**|**Market**|**Market**|
|---|---|---|---|---|---|
|||||**Value**|**Value**|
|||||**2021**|**2020**|
|||||**£**|**£**|
||CBC Church of England Investment|||||
||Fund Income Shares|**Ordinary**|**648**|15,163|13,276|
||CBC Church of England Fixed Interest|||||
||Securities Fund Income Shares|**Ordinary**|**8,802**|13,906|14,930|
||COIF Charities Investment Fund|||||
||Income Shares|**Ordinary**|**464**|9,529|8,537|
|||||38,598|36,743|
||**The total listed portfolio is :-**|||||
||As detailed above|||**Market**
**Value**
**2021**
**£**
38,598|**Market**
**Value**
**2020**
**£**
36,743|
||**Total market value**|||38,598|36,743|
|**13 **|**Debtors**|||**2021**|**2020**|
||Trade debtors|||**£**
2,934|**£**
7,797|
||Prepaid expenses|||11,517|6,763|
|||||16,396|14,560|
||**Amounts due after more than one year included in the total above are analysed as:-**|||||
|**14 **|**Creditors: amounts falling due within one year**|||**2021**|**2020**|
||Trade creditors|||**£**
5,248|**£**
3,357|
||Accrued expenses and other creditors|||410|410|
|||||5,658|3,767|
|**15 **|**Related party transactions**|||||
||No transaction with related parties, disclosable under the FRS 102 and the Charities Act 2011, were|||||
||entered into during the year or previous|year.||||
|**16 **|**Analysis of the Net Movement in Funds**|||**2021**|**2020**|
||Net movement in funds from Statement|of Financial Activities||**£**
7,450|**£**
59,145|
||**Net movement in funds available for future activities**|||7,450|59,145|
20
## **St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts**
## **for the year ended 31 December 2021**
|**17 Particulars of Individual Funds and analysis of assets and liabilities**
**At 31 December 2021**
**Unrestricted**
**Designated**
**funds**
**funds**
**£**
**£**
Tangible Fixed Assets
420,000
-
Investments at valuation
_Fixed asset investments_
24,692
-
Current Assets
56,752
-
Current Liabilities
(5,658)
-
495,786
-
**£**
**£**
**At 1 January 2021**
**Unrestricted**
**Designated**
**funds**
**funds**
Tangible Fixed Assets
420,000
-
Investments at valuation
_Fixed asset investments_
21,813
-
Current Assets
63,052
-
Current Liabilities
(3,767)
-
501,098
-
**The individual funds included above are :-**
**Funds at**
**Movements**
**2020**
**in**
**Funds**
**as below**
**Unrestricted Funds**
**£**
**£**
General Unrestricted Funds
501,098
7,841
Church House and Close House
Lettings
-
6,505
**Restricted Funds**
St Peter's Building Fund
14,332
392
St James' Building Fund
125,075
11,592
St Peter's Fabric Fund
-
(16,641)
St James' Fabric Fund
122
(3,139)
Church Wardens Expenses
509
245
Expendable Endowment Fund
14,930
(1,024)
Restricted Capital Fund
169,505
-
Night shelter
14,017
(4,077)
Ministry Development Fund
36,682
4,838
Rwanda Fund
159
1,875
Youthworker Fund
48,093
345
Sundry other funds
1,971
1,047
926,493
9,305|**representing funds**
**Restricted**
**Total**
**funds**
**Funds**
**£**
**£**
169,505
589,505
13,906
38,598
256,601
313,353
-
(5,658)
440,012
935,798
**£**
**£**
**Restricted**
**Total**
**funds**
**Funds**
169,505
589,505
14,930
36,743
240,960
304,012
-
(3,767)
425,395
926,493
**Transfers**
**Funds at**
**Between**
**2021**
**funds**
**£**
**£**
(19,658)
489,281
-
6,505
-
14,724
-
136,667
16,641
-
3,017
-
-
754
-
13,906
169,505
-
9,940
-
41,520
-
2,034
-
48,438
-
3,018
-
935,798|
|---|---|
21
## **St Peter's with St Owen and St James' Parochial Church Council Notes to the Accounts for the year ended 31 December 2021**
## **Analysis of movements in funds as shown in the table above**
|**Unrestricted Funds**
General Unrestricted Funds
Church House and Close House
Lettings
**Restricted Funds**
St Peter's Building Fund
St James' Building Fund
St Peter's Fabric Fund
St James' Fabric Fund
St James' Organ Fund
Church Wardens Expenses
Expendable Endowment Fund
Restricted Capital Fund
Night shelter
Homeless Fund
Ministry Development Fund
HTF
Rwanda Fund
Youthworker Fund
Sundry other funds|**Incoming**
**Resources**
**£**
109,994
15,969
392
14,209
-
177
-
245
-
-
250
-
23,498
3,875
345
2,932
171,886|**Outgoing**
**Resources**
**£**
105,032
9,464
-
2,617
16,641
3,316
494
-
-
-
4,327
18,660
2,000
-
1,885
164,436|**Gains &**
**Losses**
**£**
2,879
-
-
-
-
-
-
(1,024)
-
-
-
-
-
-
-
1,855|**Movement**
**in funds**
**£**
7,841
6,505
392
11,592
(16,641)
(3,139)
(494)
245
(1,024)
-
(4,077)
-
4,838
-
1,875
345
1,047
9,305|
|---|---|---|---|---|
22
## **St Peter's with St Owen and St James' Parochial Church Council Schedule to the Statement of Financial Activities for the year ended 31 December 2021**
## **Status of this schedule to the Statement of Financial Activities**
The schedules on the following pages are required by the disclosure requirements of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 and revised in June 2008.
As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008.
||**Unrestricted **|**Restricted**|**Total**|**Prior Period**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Total Funds**|
||**2021**|**2021**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|
|**Incoming Resources**|||||
|**Incoming Resources from generated funds**|||||
|**Voluntary Income**|||||
|**Non government and non public bodies**|||||
|**Incoming resources of a revenue nature - grants, donations and legacies**|||||
|Legacies receivable|-|30,029|**30,029**|13,413|
|Envelopes and Gift Aid|8,300|1,485|**9,785**|76,732|
|Loose collections at all services|6,970|1,290|**8,260**|4,296|
|Income tax recoverable|17,578|1,162|**18,740**|24,032|
|Donations, appeals, etc|71,794|5,890|**77,684**|87,825|
|Grants|-|2,199|**2,199**|10,000|
|Other income|2,213|3,054|**5,267**|1,465|
|**Total**|**106,855**|**45,109**|**151,964**|**217,763**|
|**Total Grants,Legacies & Donations Received**|**106,855**|**45,109**|**151,964**|**217,763**|
||||||
|**Total Voluntary Income**|**106,855**|**45,109**|**151,964**|**217,763**|
|**Activities for generating funds**|||||
|Fundraising activities|-|-|**-**|**-**|
|**Total of activities for generating funds**|**-**|**-**|**-**|**-**|
|**Investment Income**|||||
|Bank interest and dividend income received|278|814|1,092|1,651|
|**Total Investment Income**|**278**|**814**|**1,092**|**1,651**|
|**Incoming resources from charitable activities**|||||
|Letting of non investment property for charitable purposes|15,969|-|**15,969**|15,878|
|Parochial fees|2,861|-|**2,861**|1,571|
|**Charitable activities**|**18,830**|**-**|**18,830**|**17,449**|
||||||
|**Total Incoming Resources**|**125,963**|**45,923**|**171,886**|**236,863**|
|**Gains on investment assets**|||||
|Unrealised Gains on investments|2,879|(1,024)|1,855|2,045|
||2,879|(1,024)|1,855|2,045|
23
## **St Peter's with St Owen and St James' Parochial Church Council Schedule to the Statement of Financial Activities for the year ended 31 December 2021**
## **Status of this schedule to the Statement of Financial Activities**
The schedules on the following pages are required by the disclosure requirements of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 and revised in June 2008.
As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008.
|**Costs of generating funds**
**_Costs of generating voluntary income_**
Cost of fundraising activities
**Total costs of generating voluntary income**
**Charitable expenditure**
**_Management and administration costs_**
**_in support of charitable activities_**
**_General administrative expenses:_**
Stationery and printing
Equipment expenses
Office running costs
Other administration costs
Advertising and PR
Bank charges|**Unrestricted Restricted**
**Total**
**Prior Period**
**Funds**
**Funds**
**Funds**
**Total Funds**
**2021**
**2021**
**2021**
**2020**
**£**
**£**
**£**
**£**
424
-
424
894
**424**
**-**
**424**
**894**
**424**
**-**
**424**
**894**
276
-
276
298
-
2,923
2,923
-
5,796
-
5,796
2,441
-
-
-
437
-
510
510
-
159
-
159
60
**6,231**
**3,433**
**9,664**
**3,236**|
|---|---|
24
## **St Peter's with St Owen and St James' Parochial Church Council Schedule to the Statement of Financial Activities for the year ended 31 December 2021**
## **Status of this schedule to the Statement of Financial Activities**
The schedules on the following pages are required by the disclosure requirements of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 and revised in June 2008.
As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008.
|**_Other support costs_**
Ministry: Diocesan Parish Share
Clergy Expenses
Church running
Church maintenance
Church insurance
Youth and other work
Church House and Close House expenses
Organist and music
Parochial fees and organist fees paid over
St James' Organ fund
Ministry Development Fund
Night shelter
Other restricted costs
**Total Support costs**
**_Grantmaking to achieve the objects of the charity_**
**_Grants paid including Gift Aid payments_**
Grants paid as shown in the detailed schedule
**Total Expended on Charitable Activities**|**Unrestricted Restricted**
**Total**
**Prior Period**
**Funds**
**Funds**
**Funds**
**Total Funds**
**2021**
**2021**
**2021**
**2020**
**£**
**£**
**£**
**£**
63,000
-
63,000
60,000
3,047
-
3,047
896
14,667
-
14,667
12,818
908
22,574
23,482
11,628
11,193
-
11,193
11,669
737
-
737
862
9,464
-
9,464
34,409
1,975
-
1,975
1,970
1,440
-
1,440
897
-
494
494
-
-
15,227
15,227
-
-
4,327
4,327
29,222
-
3,885
3,885
2,967
**106,431**
**46,507**
**152,938**
**167,338**
**112,662**
**49,940**
**162,602**
**170,574**
1,000
-
1,000
5,865
113,662
49,940
163,602
176,439|
|---|---|
25
## **St Peter's with St Owen and St James' Parochial Church Council Schedule to the Statement of Financial Activities for the year ended 31 December 2021**
## **Status of this schedule to the Statement of Financial Activities**
The schedules on the following pages are required by the disclosure requirements of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 and revised in June 2008.
As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008.
||**Unrestricted **|**Restricted**|**Total**|**Prior Period**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**Total Funds**|
||**2021**|**2021**|**2021**|**2020**|
||**£**|**£**|**£**|**£**|
|**_Governance costs that are not direct management functions inherent in generating_**|||||
|**_funds, service delivery and programme or project work_**|||||
|**_Specific governance costs_**|||||
|Independent Examiner's Fees|410|-|410|410|
|**Total governance costs**|**410**|**-**|**410**|**410**|
|**_A Detailed schedule of grants paid to achieve the objects of the_**||**_charity_**|||
|**Missionary and charitable giving**|||**2021**
**£**|**2020**
**£**|
|Other grants|1,000|-|1,000|5,865|
|**Total Institutional grants**|1,000|-|1,000|5,865|
|**Total of all grants paid**|1,000|-|1,000|5,865|
|**_Analysis of transfers between funds_**|||||
|Transfer to/(from) unrestricted to be analysed further|(19,658)|-|(19,658)|(1,958)|
|Transfer to/(from) restricted to be analysed further|-|19,658|19,658|1,958|
||**19,658**
**-**|**19,658**|**-**|**-**|
Where applicable transfers are made from the unrestricted funds to restricted funds at the year end to clear any deficits that have arisen.
26