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2020-12-31-accounts

The United Reformed Church POThERS BAR UNITED REFORMED CHURCH FINANCIAL STATEMENTS TO 31 DECEMBER 2020 CONTENTS Page | | Receipts & Payments Account Notes to the financial statements Treasurer's statement Inderendent examiner's repjrt

POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY Page 1 Page 1
FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020
RECEIPTS AND PAYMENTS ACCOUNT
This Year
2020
Total £		 Last Year
2019
Total £
Unrestricted
Funds £		 Designated
Funds £		 Restricted
Funds £
Note
RECEIPTS
Collections Cash
Committed Giving Scheme
Moniesraisedforoutside causes
3
GiftAid tax repayments
4
Other FundRaisingforChurch
5
Legacies
Propertyincome
6
Grants
5a
Interestfrom DepositAccounts
Potters Bar URC Nursery School		 435
7,436
0
1,894
~~0~~
0
34,390
56		 0
0
0
0
0
10,000
0
37
139,00~~8~~		 0
15,068
2,042
5,358
1,698
0
0
15,893
13		 435
22,505
2,042
7,252
1,698
10,000
34,390
15,893
106
139,008		 1,673
23,092
2,276
7,232
6,593
0
64,167
0
418
139,568
Total receipts 44,211 149,045 40,072 233,329 245,019
PAYMENTS
Ministry &Mission Fund
7
MinisterialCosts
8
Other Ministry/Worship costs
9
Church running costs
10
Programme activity costs
11
Support ofoutside causes
12
Maintenance ofchurchbuildings
13
Maintenance of Manse &Bungalow
14
Potters Bar URC Nursery School		 -8,000
0
-8,663
-26,382
-637
0
0
0		 0
0
0
-16,244
0
0
-2,771
0
-103,071		 0
0
-145
-17,241
-974
-4,223
-18,929
0		 -8,000
0
-8,808
-59,867
-1,610
-4,223
-21,700
0
-103,071		 -8,000
-1,364
-8,579
-64,601
-2,041
-1,496
-90,146
0
-134,873
Total payments -43,682 -122,086 -41,512 -207,280 -311,100
NET RECEIPTS / (PAYMENTS) 529 26,959 -1,439 26,049 -66,081
TRANSFERS between funds
2		 -529 19,544 0 19,015 0
CHANGE IN INVESTMENT VALUE
2		 0 5,584 646 6,230 6,924
TOTAL FUNDS b/fwd1 January 0 69,000 7,673 76,673 85,655
TOTAL FUNDS c/fwd31 December 0 102,072 6,880 108,952 76,673
STATEMENT OF ASSETS AND LIABILITIES
Monetary assets
Cash
Bankcurrent accounts
Bank deposit account(Reserve)
CCLA Investments
16		 0
0
0
0		 0
26,802
38,669
36,602		 0
1,806
2,606
2,467		 0
28,60~~8~~
41,275
39,06~~9~~		 0
11,686
12,148
52,839
52,839
Total monetary assets
2		 0 102,072 6,880 108,952 76,673
Other assets
Non-Cash Investments
2&16
GiftAidrecoverable
Other monies due to church
Nursery Accruals & Pre-payments		 0
0
0		 209,953
0
0
12,36~~1~~		 6,042
0
0		 215,994
0
0
12,361		 202,956
0
0
3,493
Assets used for church purposes
Buildings
16
Churchcontents
16		 Churchbuildings andmans e
Furnishings and equipment
Liabilities
Loans outstanding
Significant creditors (uncashed cheques)
Outstanding Invoices and Donations		 0
-1,055
-2,223		 0
0		 0
0		 0
-1,055
-2,223		 0
-1,510
-2,117
APPROVEDby the Church Meeting (AGM)held onthe 2021 and signed on its behalf
by David Ramsay (Church Secretary) (signature)
The notes on pages 2 to 5 form part of this financial statement

POTTERS BAR UNITED REFORMED CHURCH CHARITY

Page 2

FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

NOTES

The financial statements have been prepared in accordance with the Charities Act 2011 Section 132, using the Receipts and Payments basis available to small charities, and the United Reformed Church guidance.

The church monies are not held in segregated accounts, but for financial statement up to 2019 the total of each account

was allocated over the appropriate funds. Interest from deposit accounts was allocated to funds on the basis of the mean of start- and end-year fund values. Increases or decreases in the value of investment accounts were attributed to the funds based on end-year fund values (after interest and fund transfers) From 2020, we have been advised to separate "cash" and "non-cash" investments and show the lattter in the Other Assets section of the R&P Summary. This has required a reallocation of funds.

We have assumed that the Charitable Donations Fund, the Mission & Music Fund and the Flower Fund are 100% cash and allocated the remaining cash balance across the Future Maintenance Reserve, the Specific Fund and the Benefactor's Funds in proprotation to their size. Interest payments and increases in capital value of cash funds are allocated on the basis of the cash element of the

respective funds and increases/decreases in the "non-cash" investment values are allocate proportionately to the

"non-cash" element of the funds. Interest and capital value changes are included in the receipts column (below).

Unrestricted Funds may be used by the church for any of its ordinary purposes.

Designated Funds represent unrestricted funds set aside by the church for specific designated purposes; they can be transferred back into general funds at the church's decision.

Future Maintenance Reserve Fund

These funds are set aside in an attempt to spread over a number of years the cost of major maintenance work to the Church, Manse and Bungalow, the amount and timing of which cannot be accurately determined. Allocated interest from deposit accounts is credited net of a 60% Ministry & Mission levy (URC Synod methodology), The levy is credited to unrestricted funds and used to part-fund our Ministry & Mission payment. From 2008 the fund has also been used to balance receipts and payments connected with the Running and Maintenance of the church.

Specific Fund

These funds are derived primarily from legacies and ministerial fees. They are intended to be used to promote the Mission and Worship activities of the church as directed by Church Meeting. Allocated interest from deposit accounts is credited net of a 60% Ministry & Mission levy (URC Synod

methodology). The levy is credited to unrestricted funds and used to part-fund our Ministry & Mission payment. From 2008 the fund has also been used to balance receipts and payments connected with the Mission & Worship activities of the church.

Nursery Reserve Fund

From 2014 we have included 'headline' figures for our Nursery School, which for reasons of operational sensitivity are reported in detail separately. The Nursery Reserve Fund is used primarily to cover cash flow imbalances arising during the operating year and projected liabilities in event of the dissolution of the Nursery. A portion of the Nursery operating surplus has been transferred to the Future Maintenance Reserve Fund to cover agreed running & maintenance costs.

Fund name & purpose: Balance
b/fwd £
0		 Receipts
inyear £
44,211		 Payments
inyear £
-43,682		 Transfers
foryear £
-529		 Balance
c/fwd £
0
Unrestricted Funds
Fund name & purpose: Balance
c/fwd £
23,270
105,986
20,044
91,293
25,686		 Receipts
inyear £
7,982
6,809
7,639
5,865
139,008		 Payments
inyear £
-19,015
0
0
0
-103,071		 Transfers
foryear £
19,30~~7~~
0
23~~8~~
0
-19,01~~5~~		 Balance
c/fwd £
31,543
112,794
27,921
97,158
42,608
FutureMaintenanceReserveFund-Cash
FutureMaintenanceReserveFund- Non-Cash
SpecificFund-Cash
SpecificFund- Non-Cash
PBURC Nursery Reserve Fund
Totals for designated funds -Cash
Totals for designated funds - Non-Cash
Totals for designated funds		 69,000 154,629 -122,086 529 102,072

POTTERS BAR UNITED REFORMED CHURCH CHARITY

Page 3

FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

NOTES

Restricted Funds represent income which may be expended only on those restricted objects provided in the terms of a trust or bequest, or donations or grants received or invited for a specific purpose. These funds can only be spent on the specific purpose for which they were given. Any balance remaining unspent must be carried forward as a balance on that fund for future expenditure on that specific purpose, or returned; it cannot be absorbed into general funds.

Benefactors fund

These funds have been derived from donations which are to be applied for items not connected with the upkeep of the fabric. They are kept separately and can be directed according to the decision of the Church Meeting. In 2020 a payment was made to our retiring Toddlers Manager, Margaret Steff

Annual Running & Maintenance Fund

Since 1.1.2007 some church members and church organisations have requested that a proportion of their giving is

directed into a restricted fund for the purpose of maintaining the church premises. This income is generally used in the year it arises.

Charitable Donations Fund

This fund holds temporary balances of restricted short term funds, pending completion of donations by the church .

Flower Fund

Gift Aid recovered on indirect donations made for church flowers and restricted donations made to the Church for flowers is credited to this fund. The funds are to be used solely for purchase of church flowers, directly or via the church flower arrangers group.

Music & Mission Fund

These funds derive from donations by church members and third parties at concerts & recitals in the church. They are used to fund the costs of musical events - primarily in the running year - but any surplus is held in the fund for future years.

2 Fund name & purpose: Balance
b/fwd £
1,246
5,677
0
2,117
2,863
1,447		 Balance
b/fwd £
1,246
5,677
0
2,117
2,863
1,447		 Receipts
inyear £
117
365
18,929
2,700
635
1,511		 Receipts
inyear £
117
365
18,929
2,700
635
1,511		 Payments
inyear £
-145
0
-18,929
-4,223
-864
-524		 Payments
inyear £
-145
0
-18,929
-4,223
-864
-524		 Balance
c/fwd £
1,218
6,042
0
594
2,634
2,434		 Balance
c/fwd £
1,218
6,042
0
594
2,634
2,434
Benefactor'sfund-Cash
Benefactor'sfund- Non-Cash
Annual running &maintenancefund
Charitable GivingFund (non-interest bearing)
Flower Fund
Music & Mission Fund
Totals for restricted funds -Cash
Totals for restricted funds - Non-Cash
Totals for restricted funds		 7,673
5,677
13,350		 23,891
365
24,256		 -24,685
0
-24,685		 6,880
6,042
12,922
This Year
2020
Total £		 Last Year
2019
Total £
Unrestricted
Funds £		 Designated
Funds £		 Restricted
Funds £
3 MONIES RAISED FOR OUTSIDECAUSES
DonationsforCharities
Minister'sleaving gift.		 2,042 2,042
0		 1,321
955
Total raised for outside causes 0 0 2,042 2,042 2,276
4 GIFT AID
Committed Giving
Flower Fund
Music &Mission
RestrictedMaintenanceFund
Donation for Events & Catering Costs
Donation forOffice Costs
Donations to Organ MaintenanceFund
Charities		 1,894 3,838
228
572
3
108
10
0
600		 5,731
228
572
3
108
10
0
600		 6,340
213
25
86
20
20
459
70
Total Gift Aid 1,894 0 5,358 7,252 7,232
Gift Aid above is for 1-1-19 to 31-12-19
POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY POTTERS BAR UNITED REFORMED CHURCH CHARITY Page 4 Page 4
FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020
This Year
2020
Total £		 Last Year
2019
Total £
NOTES Unrestricted
Funds £		 Designated
Funds £		 Restricted
Funds £
5 OTHER FUND RAISING FOR CHURCH
ThirdPartyPhotocopying andArtwork
Organ MaintenanceAppeal Fund
Mission&Music
Church RestrictedMaintenanceFund
Flower Fund
Benefactor'sFund		 0
~~0~~		 0
707
20
155
~~0~~
816		 0
0
707
20
155
0
816		 0
0
2,363
89
515
0
3,626
Other Donations*
Total Other Fund Raising for Church 0 0 1,698 1,698 6,593
*Included here are restricted donations towards Office, Catering and Events costs.
**5a ** HMRC Furlough Grants 15,893 15,893 0
In 2020,whilstwe continued to pay staff fullsalaries,we tookadvantage ofthe Government'sfurloughscheme to cover
periods when restrictions meant they were unable to work.
6 PROPERTY INCOME
Lettingincome
ManseRental Income*
Bungalow Rental Income		 13,337
13,379
7,673		 0 13,337
13,379
7,673		 43,685
10,195
10,287
Total property income 34,390 0 0 34,390 64,167
*Until30thJune2019we shared aMinister with BrookmansParkURC and as part ofourcost sharing agreement
50% ofour ManseRental income,net ofagentsfees,was passed toBrookmansParkURC.
This arrangement terminated on 30th June 2019.
7 MINISTRY & MISSION FUND
The churchcontributes to the centralURC costs oftraining and providingministers (including the centralised
payment ofstipends, pensioncontributions and otherbenefitsfor ministers),running the denomination, and
the wider mission of the national church.
8 MINISTERIALCOSTS
Minister'sExpenses
Manse Council Tax
ManseInsurance
MansePhone &Broadband
ManseWater		 0
0
0
0
~~0~~		 0
0
0
0
0		 -519
-633
0
-213
0
Total Ministerial Costs 0 0 0 0 -1,364
Asnoted under6,wehad a cost sharing arrangementfor Ministerialc ostswith BrookmansParkURCwhichterminated
on30thJune2019. Thefigures aboverepresent ourshare of Minister's expenses,water, telehone and Council Tax
for the first half year 2019 and 2018 adjustments.
9 OTHER MINISTRY/WORSHIPCOSTS
Expenses- Elders -153
0
-2,280
-5,234
-996		 -14~~5~~ -298
0
-2,280
-5,234
-996		 -926
0
-1,800
-5,479
-373
Strategy Costs (hire ofconsultant)
PulpitFees
OrganistFees &Directorof Music Salary
Licences and Music
Total Other Ministry & Worship Costs -8,663 0 -145 -8,808 -8,579
**10 ** CHURCH RUNNING COSTS
Gas
Electricity
Insurance
WaterCharges
Caretaker's Salary,NI&Pension
PremisesManagerSalary
Lettings OfficerSalary
Telephone andBroadband
Office, Stationery and photocopying		 0
0
0
0
-8,830
-11,697
-2,606
-720
-1,13~~5~~
-159
-71
-286
0
0
-340
-540		 -3,204
-4,154
-4,315
-659
-3,912		 -7,038
-6,802
-1,604
-789
-76
-69
0
-864
0		 -3,204
-4,154
-4,315
-659
-19,779
-18,498
-4,210
-720
-1,923
-235
-140
0
-864
0
-286
0
0
-340
-540		 -4,174
-4,286
-4,316
-914
-21,642
-16,593
-4,050
-771
-3,629
-410
-1,059
0
-520
-459
-613
0
-190
-436
-540
Catering
Events
DarkesFayre Costsfrom PreparationsFund
Drawdown from Flower Fund
Organ Maintenance (fromOrgan Fund)
ChurchOrganandPianomaintenance
Other,including CRBcosts
LettingsAdmin.Costs
Finance & Otheradminexpenses
Accounts Examination
Total church running costs -26,382 -16,244 -17,241 -59,867 -64,601
9 OTHER MINISTRY/WORSHIPCOSTS
Expenses- Elders -153 -14~~5~~ -298 -926
Strategy Costs (hire ofconsultant) 0 0 0
PulpitFees -2,280 -2,280 -1,800
OrganistFees &Directorof Music Salary -5,234 -5,234 -5,479
Licences and Music -996 -996 -373
Total Other Ministry & Worship Costs -8,663 0 -145 -8,808 -8,579
**10 ** CHURCH RUNNING COSTS
Gas 0 -3,204 -3,204 -4,174
Electricity 0 -4,154 -4,154 -4,286
Insurance 0 -4,315 -4,315 -4,316
WaterCharges 0 -659 -659 -914
Caretaker's Salary,NI&Pension -8,830 -3,912 -7,038 -19,779 -21,642
PremisesManagerSalary -11,697 -6,802 -18,498 -16,593
Lettings OfficerSalary -2,606 -1,604 -4,210 -4,050
Telephone andBroadband -720 -720 -771
Office, Stationery and photocopying -1,13~~5~~ -789 -1,923 -3,629
Catering -159 -76 -235 -410
Events -71 -69 -140 -1,059
DarkesFayre Costsfrom PreparationsFund 0 0 0
Drawdown from Flower Fund -864 -864 -520
Organ Maintenance (fromOrgan Fund) 0 0 -459
ChurchOrganandPianomaintenance -286 -286 -613
Other,including CRBcosts 0 0 0
LettingsAdmin.Costs 0 0 -190
Finance & Otheradminexpenses -340 -340 -436
Accounts Examination -540 -540 -540
Total church running costs -26,382 -16,244 -17,241 -59,867 -64,601

POTTERS BAR UNITED REFORMED CHURCH CHARITY

Page 5

FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

NOTES

NOTES NOTES
This Year
2020
Total £		 Last Year
2019
Total £
Unrestricted
Funds £		 Designated
Funds £		 Restricted
Funds £
**11 ** PROGRAMME ACTIVITYCOSTS
JuniorChurch&Toddlers 0
-445
-192		 -45~~0~~
-524		 -450
-445
-192
-524
0		 0
-489
-372
-1,180
~~0~~
Mission Materials &Advertising
Church Liaison&PastorateExpenses
Mission&Music
Specificfund expenditure
Total programme activity costs -637 0 -974 -1,610 -2,041
**12 ** SUPPORTOF OUTSIDECAUSES
StrokeAssociation 0
0
0
0
0
0
0
0
0
0
0
0
0		 0
0
0
0
0
0
0
0
0
0
0
0
0		 -190
-234
-460
-350
-234
-100
-1,200
-304
-1,151		 -190
-234
-460
-350
-234
-100
-1,200
-304
0
0
0
0
-1,151		 0
0
0
0
0
0
0
0
-189
-1,000
-202
-105
0
HomelessAction in Barnet
CrisisHomeless Charity
Essex&HertsAir Ambulance
HertsMusical Memories
HornseyMoravianChurch - followingfire
DIPPS (Defibrillatorsin PublicPlaces)
PeaceHospice- Harvest Collections.
Royal Free Charity-CarolineWick
Revd. Nick Brindley- leaving collections.
Christian Aid
CTPBsummerClub-Stainerconcert
UgandanChurch Roof Appeal
Total support of outside causes 0 0 -4,223 -4,223 -1,496
Inadditionto the above donations to Outside CausesfromChurch funds, Christain Aid Collectionswere £340
These donations arenotincludedinouraccounts.
Our total support for outside causes was therefore £4,563 in 2020.
**13 ** MAINTENANCE OF CHURCH BUILDINGS
Routine Church Repairs &Maintenance 0
~~0~~
0		 -2,771
0
0		 -14,828
-2,181
-1,920		 -17,599
-2,181
-1,920		 -19,075
-67,586
-3,486
Major repair/renovationprojects
Health& Safety andAdmin
Total maintenance of church buildings 0 -2,771 -18,929 -21,700 -90,146
**14 ** MAINTENANCE OF MANSE & BUNGALOW
ManseRepairs &Maintenance 0 0 0 0
Bungalow repairs & Maintenance 0 0 0
**15 ** ASSETS USED FOR CHURCH PURPOSES
The church building, the manse at 1 Cedar Close, Potters Bar and the bungalow at 245 Darkes Lane, Potters Bar
are vested in URC Thames North Trust as trustees and are not church assets. They are held for the benefit of
Potters Bar URC in accordance with the statutory trusts applicable to URC properties under the URC Acts.
For insurance purposes the church buildings are insured by the church for £4,618,673 for the church complex,
manse for £5,000 and bungalow for £5,065.
£306491 for the manse and £141360 for the bungalow. The church contents are insured by the church for £682,602

16 INVESTMENTS HELD FOR CHURCH PURPOSES

In addition to current and reserve bank accounts, the church has a deposit account and an Investment fund with CCLA Investment Management Ltd. Income from the church deposit account is paid to the church.

**16 ** INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES INVESTMENTS HELD FOR CHURCH PURPOSES
CCLA InvestmentManagementLtd. Incomefromthe churchdeposit accountis paid to the church.
Inadditiona current bankaccount, the Church Nursery School has a deposit accountwithCCLA Investment
ManagementLtd. IncomefromtheNursery Schooldeposit accountis paid to theNursery School.
The total value ofCCLA fundswas asfollows:
31.12.2020 31.12.2019
Cash(COIFCharitiesDepositFund) £39,069 £52,839
Non-Cash(COIF Charities Investment Fund) £215,994 £202,956
£255,063 £255,795

POTfERS BAR UNITED REFORMED CHURCH CHARITY Page 6 FINANCIAL STA TEMENTS YE4R ENDED 31 DECEMBER 2020 1 TREASURER'S STA T8•lENT I have prepared the financial statements C￿ pages 1 10 5 ts the year ended 31 December 2020 from the accounting iecords of the church. Robert Anth￿Y Hillyard Isignaturel Idatel 15th February2021 INDEPENDENT EXAMINEFYS REPORT I report the financial statements of Potters Bar URC y the year ended 31 December 2020. which are sel out on pages 1 to 5. R&g)ectlv& responslbllltles The church is responsible fc( the preparatic￿ of the financial statements, and ¢(￿sIderS that the audit requirement of Section 145 of the Charities Act 2011 Ilhe Acll dces not apply. 11 is my responsibility to state, cn the basis of procedures Specified in the General Direction5 given by the Charity Commi5sicner5 under Section 145151(bl of the Act, whether particular mallers ha come lo my attenti(*). Basis of Indepondgnt Examlnerfs report My examination was carried out in accordance with the General Directions of the Charity Ccfflmi55icner5. An examination includes a remew of the accounting rec¢xd5 kept by the church and a comparison of the accounts presented with those records. ￿ also includes consideration of any unusual items or disclosures in the financial statements. and seeking ex planations ccmceming any such matters. The procedures undertaken do not pro¥ide all the eiridence that wcyjld be required in an audit, and cc￿seqUentIY no opinion is gI￿n as to whether the acccyjnts present a Irue and iiew and the report is limited to those matters set out in the statement below. Independent Examingr's statamgnt In connection with my examination, no material matters ha￿ come lo my attenlicfi which gI￿S me cause to believe in any respect". ace¢Mnling records were not kept In accordance with SectiC￿ 130 of the Charities Act the accounts do not a¢¢c￿d with the a¢¢cwnling re¢cxds. I ha¥e ccrne across no other matters in Connectic￿ with the examinab.on to which attention shujld be drawn in order to enable a prt¥)er understanding to be reached. Signed by the Independent Examiner.. J Fryettr dale.. 13.03.21 Name and address ofthe Independent Examiner.. JcEn L. Fryell F.MA.A.T. Unit 5 East LcKlge Village East L(Klge Lane Botany Bay Enfield EN2 8AS