Charity Registration No. 1133968
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Annual Report And Unaudited Financial Statements For The Year Ended 31 December 2020
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Legal And Administrative Information
|**Charity number**|1133968|
|---|---|
|**Vicar & Chairman**|The Revd Lionel Kevis|
|**Principal address**|St Mary's Church|
||High Street|
||Leigh|
||Tonbridge|
||Kent|
||TN11 8QR|
|**Independent examiner**|Loucas|
||The Carriage House|
||Mill Street|
||Maidstone|
||Kent|
||ME15 6YE|
|**Bankers**|Santander|
||Bridle Road|
||Bootle|
||Merseyside|
||L30 4GB|
## **The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Contents
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the financial statements|9 - 19|
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Trustees' Report
For The Year Ended 31 December 2020
The Trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2016 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) (effective 1 January 2019)".
## **Objectives and activities**
St Mary’s Church is part of the Tonbridge Deanery and the Diocese of Rochester. The Parochial Church Council of St Mary’s (the PCC) has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the church: pastoral, evangelistic, social and ecumenical. The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure and is a registered charity no. 1133968.
PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including deciding on how the funds of the PCC are to be spent. The Trustees have had due regard to the Charity Commission’s guidance under Charities Act 2016 on public benefit when considering the Charity’s objectives and activities. St Mary’s Church provides public benefit by offering a variety of styles of public worship and by providing an open, accessible and welcoming village resource.
The PCC continued to use strategic objectives to reflect Jesus’s Great Commission (Matthew 28 v10) ‘Go therefore and make disciples of all nations as follows:
- i. To bring others to Christ through outreach in the community;
- ii. To continue to develop the youth and young families programme;
- iii. To gain greater commitment from all church members to give time voluntarily to helping the community and God’s work in the village.
In line with many other organisations deemed as ‘non-essential’, the church was required to close between March and June due to the onset of a global virus, COVID-19. Although the building opened in mid-June for private prayer and spoken services resumed in July, there were further periods of restrictions and forced closure for the remainder of the year. A number of weddings were postponed until 2021 and certain events were sadly cancelled.
Church membership and attendance was therefore as follows:
||2020|2019|
|---|---|---|
|Number on electoral roll|92|92|
|Number on roll not resident in parish|21|21|
|Usual Sunday attendance - adults|45|51|
|Usual Sunday attendance - under the age of 16|6|8|
|Easter attendance|-|166|
|Christmas attendance|-|488|
|Baptisms|-|6|
|Weddings & Blessings|2|3|
|Funerals in church|3|4|
Page 1
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Trustees' Report (Continued)
For The Year Ended 31 December 2020
However, staff, members of the PCC and volunteers responded positively to the predicament and, from the beginning of the first lockdown and into 2021, the following activities took place:
## **Virtual Sunday Services**
From the early days of lockdown, the Vicar was able to record sermons and prayers for broadcast on our Vimeo account via the St Mary’s website: www.stmarysleigh.org. This ministry was enhanced throughout the year by augmenting newly-recorded readings, prayers and sermons with pre-recorded music from the St Martin’s singers, provided by the Church of England’s innovative digital resources hub. This has enabled us to continue to follow the liturgical calendar and to provide online services with a local flavour.
## **Family Services & Forest Church**
Encouraged by the success of Forest School at Leigh Primary School and aware that online services had a limited reach, the Youth and Families Minister introduced the idea of Forest Church, made possible by the purchase of a pop-up gazebo to allow attendees to move around to various venues whilst abiding by social distancing regulations. At times, it has been necessary to stream or pre-record Forest Church, but it has been a big success, attracting some 50 to 60 primary school age children each week when counting those attending in person and online.
Work is ongoing to bring the formula and spirit of Forest Church – and the involvement of children in the services - into the Family Services, both online and, in the future, in the church building.
## **Fabric**
St Mary’s undertook two major fabric projects in 2020: repairs to the Lychgate and refurbishment and upgrading of the sound system. Repairs to the churchyard path were made during early 2021 and it was hoped to add live-streaming capabilities to the sound system as soon as practicable.
## **Pastoral Work**
The Vicar and Churchwardens actively engaged in pastoral work during the year, checking on people who were housebound or shielding, supporting the work of the Leigh volunteers and raising spirits at times such as Easter and Christmas. St Mary’s has been supporting a local foodbank and provided laptops for school children. The church stayed open for private prayer for most of the year thanks to an 18-strong team of cleaning volunteers, the St James’ Guild.
## **Safeguarding**
The PCC has appointed individuals to the requisite roles and continues to abide by its Safeguarding Policy. In this respect, the PCC is fully compliant with Diocesan requirements.
## **Fundraising**
The majority of personal giving is usually received through collections at services and regular monthly or quarterly contributions. Gift Aid is reclaimed on as many eligible donations as possible.
We do not use third party suppliers to assist us with our fundraising. The charity has not voluntarily subscribed to any fundraising standards or schemes for fundraising regulation. There have been no complaints to the charity regarding fundraising. The charity is mindful of the need to protect vulnerable people and other members of the public from any unreasonable intrusion on their privacy, such as being unreasonably persistent or placing undue pressure on a person to give money or other property.
## **Risk Assessment**
Regular risk assessments were undertaken in 2020 with specific reference to the possibility and desirability of opening the church and holding services.
Page 2
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Trustees' Report (Continued)
For The Year Ended 31 December 2020
## **Financial review**
The PCC reported an operating deficit of £63,445 (2019: £39,987) which, when investment losses of £16,228 (2019: gains of £73,299) were taken into account, resulted in net expenditure of £79,673 for the year (2019: net income of £33,312). Planned giving held up well throughout the year but, due to the lack of services, gifts in the collection plate were over £5,000 lower than in the previous year.
A total of £65,000 was withdrawn from the PCC’s investment portfolio over the course of the year to cover the operating deficit and to allow the sound system and lychgate projects to be undertaken. As a result, losses of £4,265 were realised and the portfolio suffered unrealised losses of £11,963. The market value of the portfolio at the year end was £510,873 (2019: £592,101).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Reserves**
Free unrestricted reserves stood at £524,977 at the year-end (2019: £608,918). Designated reserves stood at £28,385 (2019: £25,627), being £17,185 in respect of the Memorial Wall Fund and £11,200 held in the Church Repair Fund. The restricted fund – Friends of St Mary’s – contained £8,832 (2019: £7,322). The PCC’s Investment Policy allows the annual operating deficit to be funded by its unrestricted reserves over the long term.
## **Going concern**
The Trustees have evaluated the circumstances in which the PCC operates. The PCC has unrestricted reserves of over £500,000 and the Trustees have therefore concluded that there are no material uncertainties that cast doubt on the charity's ability to continue as a going concern over the medium term.
The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 3
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Trustees' Report (Continued)
For The Year Ended 31 December 2020
The Trustees who served during the year and up to the date of signature of the financial statements were:
## **Vicar & Chairman:**
The Revd Lionel Kevis (+)
## **Churchwardens:**
James Irving (+) Andrew McClintock (resigned 29 th September) Elizabeth Wynn Owen (appointed 29 th September) (+)
## **Deanery Synod Representatives:**
Jane Withers (Reader) Julie Porter
## **Elected Members:**
_To seek re-election in 2021:_ Rachel Littlejohn (+) Richard Nevard (+) Ian Vincent _To seek re-election in 2022:_ Geoff Dalby Nicola Ellis _To seek re-election in 2023:_ Sarah-Jane Hardy Helen Hobhouse (+) Stephanie Rutherford
## **Non-Members in attendance:**
David Bennie (Youth and Families Minister) Gill Bennie (Office Manager) Lisa Srotyr (Secretary)
(+) Denotes membership of the PCC Standing Committee, which meets six times a year and is empowered to transact the normal business of the PCC between meetings, subject to any directions given by the Council.
The PCC met six times during the year; most meetings were held remotely via Zoom. The Rector and Churchwardens are ex-officio Trustees, as are the Deanery Synod Representatives, providing the PCC with an important link between the parish and the wider structures of the church. Churchwardens are elected on an annual basis, up to an agreed maximum of six years. A further nine members are elected, a third of whom stand for re-election every three years. The following members and officials were elected and appointed at the Annual Parochial Church Meeting held on 29 th September 2020 and elected or co-opted at subsequent meetings of the Council.
The Trustees' r eport was approved by the Board of Trustees.
## **James Irving**
Trustee Dated: 29 October 2021
Page 4
## **The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Statement Of Trustees' Responsibilities
For The Year Ended 31 December 2020
The Trustees are responsible for preparing the Trustees' Report 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 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 of the incoming resources and application of resources of the charity for that year.
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 Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2016, the Charity (Accounts and Reports) 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.
Page 5
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Independent Examiner's Report
To The Trustees Of The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent
I report to the Trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent (the charity) for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2016 (the 2016 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2016 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 201 6 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 201 9 .
I have completed my examination. I confirm that no 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 2016 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Athos Louca, FCCA, ICPAC (Senior Statutory Auditor) for and on behalf of Loucas
The Carriage House Mill Street Maidstone Kent ME15 6YE
Dated: 29 October 2021
Page 6
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Statement Of Financial Activities Including Income And Expenditure Account
For The Year Ended 31 December 2020
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
37,050
1,510
Charitable activities
**4**
11,199
-
Other trading activities
**5**
723
-
Investments
**6**
20,671
-
**Total income**
69,643
1,510
**Expenditure on:**
Raising funds
**7**
6,538
-
Charitable activities
**8**
124,566
-
Other
**11**
3,494
-
**Total resources**
**expended**
134,598
-
Net gains/(losses) on
investments
**12**
(16,228)
-
**Net movement in funds**
(81,183)
1,510
Fund balances at 1
January 2020
634,545
7,322
**Fund balances at 31**
**December 2020**
553,362
8,832|**Total**Unrestricted
Restricted
funds
funds
**2020**
2019
2019
**£**
**£**
**£**
38,560
43,034
2,045
11,199
15,928
-
723
1,972
-
20,671
23,849
-
71,153
84,783
2,045
6,538
-
-
124,566
120,123
-
3,494
6,692
-
134,598
126,815
-
(16,228)
73,299
-
(79,673)
31,267
2,045
641,867
603,278
5,277
562,194
634,545
7,322|Total
2019
**£**
45,079
15,928
1,972
23,849
86,828
-
120,123
6,692
126,815
73,299
33,312
608,555
641,867|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Page 7
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Balance Sheet
## As At 31 December 2020
|**Notes**
**Fixed assets**
Tangible assets
**13**
Investments
**14**
**Current assets**
Stocks
**15**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
Net current assets
**Total assets less current liabilities**
**Income funds**
Friends of St Mary's
**18**
Unrestricted funds
Designated funds:
Memorial Wall fund
Church Repair fund
**19**
General unrestricted funds|**2020**
**£**
691
5,710
36,533
42,934
(2,460)
8,832
17,185
11,200
28,385
524,977|**£**
10,847
510,873
521,720
40,474
562,194
8,832
553,362
562,194|**2019**
**£**
567
12,688
34,117
47,372
(4,200)
7,322
16,827
8,800
25,627
608,918|**£**
6,594
592,101
598,695
43,172
641,867
7,322
634,545
641,867|
|---|---|---|---|---|
The financial statements were approved by the Trustees on 29 October 2021
James Irving **Trustee**
Page 8
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Notes To The Financial Statements
For The Year Ended 31 December 2020
## **1 Accounting policies**
## **Charity information**
The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent is part of the Tonbridge Deanery and the Diocese of Rochester. The Parochial Church Council of St Mary’s (the PCC) has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the church: pastoral, evangelistic, social and ecumenical. The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure and is a registered charity no. 1133968.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2016 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC.
Designated funds are unrestricted funds set aside by the PCC for specific purposes and can be redesignated by the PCC at any time. There are currently two designated funds: _The Memorial Wall Fund_ is for the periodic extension, modification and maintenance of the Memorial Wall on the northern boundary of the churchyard. _The Church Repair Fund_ is held by the Diocese on behalf of the PCC and is intended to contribute to the costs of work arising from the Quinquennial Inspection.
Restricted funds are those where donors have placed restrictions on the use of the funds. _The Friends of St Mary’s Fund_ was established in 2013 to hold donations given by those in the village who do not engage with the spiritual life of the St Mary’s but nevertheless value the church’s presence in the community.
Page 9
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
## **1 Accounting policies**
## **(Continued)**
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably probable.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Charitable activities includes the direct costs of the Church and its mission as well as costs incurred in support of these activities.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
Consecrated property and movable church furnishings
Consecrated and beneficed property of any kind is excluded from the accounts by s.96(2)(a) of the Charities Act 2011. Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or beneficed property, whether maintenance or improvements, is written off.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
Page 10
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
## **1 Accounting policies**
## **(Continued)**
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.9 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Page 11
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
## **1 Accounting policies**
## **(Continued)**
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Page 12
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**£**
**£**
Donations and gifts
35,535
1,510
Grants received
1,515
-
37,050
1,510
**Donations and gifts**
Planned giving Gift
Aided
23,826
-
Planned giving CAF
3,784
-
Planned giving other
654
-
Collections
683
-
Sundry donations Gift
Aided
358
1,510
Sundry donations other
520
-
Gift Aid recoverable
5,710
-
35,535
1,510
**Charitable activities**
**Church**
**activities**
**Church**
**magazine**
**Total**
**2020**
**2020**
**2020**
**£**
**£**
**£**
Sales
within
charitable
activities
-
9,622
9,622
Other income
1,577
-
1,577
1,577
9,622
11,199|**Total**Unrestricted
Restricted
funds
funds
**2020**
2019
2019
**£**
£
£
37,045
41,669
2,045
1,515
1,365
-
38,560
43,034
2,045
23,826
24,132
-
3,784
3,809
-
654
928
-
683
5,960
-
1,868
35
1,777
520
657
-
5,710
6,148
268
37,045
41,669
2,045
**Church**
**activities**
**Church**
**magazine**
**Memorial Wall**
**income**
**2019**
**2019**
**2019**
**£**
**£**
**£**
-
10,522
-
4,332
-
1,074
4,332
10,522
1,074|Total
2019
£
43,714
1,365
45,079
24,132
3,809
928
5,960
1,812
657
6,416
43,714
**Total**
**2019**
**£**
10,522
5,406
15,928|
|---|---|---|
## **4 Charitable activities**
Page 13
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
|**5**
**6**
**7**|**Other trading activities**
**Unrestricted**Unrestricted
**funds**
funds
**2020**
2019
**£**
£
Fundraising events
723
1,972
**Investments**
**Unrestricted**Unrestricted
**funds**
funds
**2020**
2019
**£**
£
Interest receivable
20,671
23,849
**Raising funds**
**Unrestricted**
Total
**funds**
**2020**
2019
**£**
£
Trading costs
Magazine and printing costs
6,538
-
6,538
-|
|---|---|
Page 14
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
## **8 Donations made**
||**Church**|Church|
|---|---|---|
||**activities**|activities|
||**2020**|2019|
||**£**|£|
|Donations to institutions:|||
|**Overseas Relief and Development Agencies**|||
|Gambian Projects Overseas|1,400|1,400|
|Release International|100|-|
|**Home Missions & other Church Organisations**|||
|Friends of Rochester Cathedral|40|10|
|Friends of Kent Churches|10|10|
|Tonbridge Baptist Church|500|100|
|Langley House Trust|1,400|1,400|
|Wycliffe Hall|500|-|
|Tonbridge Children's Workshop|1,000|-|
|The Bible Society|-|100|
|**Secular Charitable Organisations**|||
|The Bridge Trust|1,400|1,400|
|**Other**|||
|Previously accrued donations|(4,200)|-|
||2,150|4,420|
The PCC maintains a policy of giving a minimum of 10% of its donated income (excluding restricted income) to missions and charities, with particular emphasis given to those which operate from a Christian base.
These donations made do not meet the criteria to be recognised as a liability and will be recognised as expenditure in the 2021 financial year.
## **9 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **10 Employees**
The average monthly number of employees during the year was:
||**2020**|**2019**|
|---|---|---|
||**Number**|**Number**|
||2|2|
|**Employment costs**|**2020**|**2019**|
Page 15
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
|**10**|**Employees**||**(Continued)**|
|---|---|---|---|
|||**£**|**£**|
||Wages and salaries|34,450|26,251|
|**11**|**Other**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2020**|2019|
||Other expenditure|3,494|6,692|
|||3,494|6,692|
|**12**|**Net gains/(losses) on investments**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2020**|2019|
|||**£**|£|
||Revaluation of investments|(16,228)|
73,299|
Page 16
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
|**13**|**Tangible fixed assets**|||
|---|---|---|---|
|||**Fixtures and fittings**||
||||**£**|
||**Cost**|||
||At 1 January 2020||13,190|
||Additions||10,068|
||At 31 December 2020||23,258|
||**Depreciation and impairment**|||
||At 1 January 2020||6,596|
||Depreciation charged in the year||5,815|
||At 31 December 2020||12,411|
||**Carrying amount**|||
||At 31 December 2020||10,847|
||At 31 December 2019||6,594|
|**14**|**Fixed asset investments**|||
||||**Unlisted**|
||||**investments**|
||||**£**|
||**Cost or valuation**|||
||At 1 January 2020||592,101|
||Valuation changes||(16,228)|
||Disposals||(65,000)|
||At 31 December 2020||510,873|
||**Carrying amount**|||
||At 31 December 2020||510,873|
||At 31 December 2019||592,101|
|**15**|**Stocks**|||
|||**2020**|**2019**|
|||**£**|**£**|
||Raw materials and consumables|691|567|
Page 17
**The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
|**16**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**17**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2020**
**£**
5,710
**2020**
**£**
-
2,460
2,460|**2019**
**£**
12,688
**2019**
**£**
4,200
-
4,200|
|---|---|---|
## **18 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
||||**Movement**||**Movement**||
|---|---|---|---|---|---|---|
||||**in funds**||**in funds**||
|||**Balance at**|**Incoming**|
**Balance at**|**Incoming**|**Balance at**|
||**1**|**January 2019**|**resources**|
**1 January 2020**|**resources**|**31 December**|
|||||||**2020**|
|||**£**|
**£**|
**£**|
**£**|**£**|
|Friends of St Mary's fund||5,277|
2,045|
7,322|
1,510|8,832|
## **19 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|||**Movement in funds**|**Movement in funds**||**Movement in funds**|**Movement in funds**||
|---|---|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Transfers**|
**Balance at**|**Incoming**|**Transfers**|**Balance at**|
||**1 January 2019**|**resources**||**1 January 2020**|**resources**||**31 December**|
||||||||**2020**|
||**£**|**£**|**£**|
**£**|**£**|**£**|**£**|
|Memorial||||||||
|Wall fund|15,753|1,074|-|
16,827|358|-|17,185|
|Church repair||||||||
|fund|6,350|50|2,400|
8,800|-|2,400|11,200|
||22,103|1,124|2,400|
25,627|358|2,400|28,385|
Page 18
## **The Parochial Church Council of the Ecclesiastical Parish of St Mary The Virgin, Leigh, Tonbridge, Kent**
## Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2020
|**20**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2020**
**2020**
**£**
**£**
Fund balances at 31
December 2020 are
represented by:
Tangible assets
10,847
-
Investments
510,873
-
Current assets/
(liabilities)
31,642
8,832
553,362
8,832|**Total**Unrestricted
funds
Restricted
funds
**2020**
2019
2019
**£**
£
£
10,847
6,594
-
510,873
592,101
-
40,474
7,826
7,322
562,194
606,521
7,322|Total
2019
£
6,594
592,101
43,172
641,867|
|---|---|---|
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2019 - none).
Page 19