The Parochial Church Council of St Andrew's, Congresbury with Puxton & Hewish St Anne's End of Year Financial Statements Year ending 31 December 2020 Charity Commission Number 1134086 Parochial Church Council ofSI AndreH s, Congresbury Annual Report andAccounls 2020 CONTENTS Vicar's Report on Finances........................... Aim and Purpose........................................................................................................ Administrative Information.......................................................................................... Structure, G0Veman￿ and Management................................................................... Committees................................................................................................................. PCC Meetings............................................................................................................. Independent Examinerfs Report................................................................................. Statement of Financial Activff(ies...............................................................................10 Balan￿ Sheet.......................................................................................................... 11 Fund Movement by Type.............. ... -12 Notes to the Financial Statements l Treasurerfs Report 1 Accounting Policies........................................................................................14 2 Fixed Assets.................................................-.................................................15 3 Notes on Expendiiure................................................................................. -15 4 Creditors................................................................ ................. ......................15 5 Debtors................... . -15 6 Friends of StAndrews Church....................................................................... 16 Page I Parochial Church Council ofSI Apthew's. Congresbury Annual Reporl andAccoun15 2020 VICAR'S REPORT ON FINANCES: Following the Trustees Report of 2019, the year to end of 2020 was marked by nine months of the pandemic of Covid-19 virus (March 2020 onwards). Like many organisations and charities over this time period the lockdowns and general level of restriction and public anxiety has had a significant impact on our financial trading situation, details of which are given below. Saying that, in varying forms we continued to operate as a Church throughout. In terms of holding a Sunday SeNice each week, sometimes online only from such places as the Dining Room of the Vicarage to eventually offering a number of services -hybrid- (on-site in Church physically as well as on-line using technology) and, as yet, we have not missed a Sunday since the pandemic began. Particular mention should also be given to all those who have done so much for both other Church members and for those in the wider communty during this time where there has been substantial need. Although beyond the normal parameters of this report in terms of ti not having significant financial implication, it should not go unmentioned that there is a huge debt of gratttude owed to all those who worked continuously throughout this most unusual of times offering the vitally important practical support and care so much needed. Thank you. On a financial level, areas that were impacted signtficantly during the year due to the Covid-19 pandemic which began in March 2020 are as follows.. Overall finan￿S raised by regular giving from donors dropped considerably. This was due to the significant number of donations made prior to the pandemic made by those who PLrt 'money on the plate, or who used the 'envelope scheme, _ popular as it is amongst older members of the Church. Both these channels of raising finance could not be utilised during nine out of the elve months of this accountable year atthough attempts by the Treasurer and others to encourage people to transfer their regular giving to standing order, etc. did help offset this somewhat. The major financial outgoing of any Anglican Church is the amount paid throughout the year to the Diocese to cover salartes of clergy plus other costs. For the year 2020 this figure was set by the Diocese of Bath and Wells for St Andrews to be in the order of £66,786. With the pandemic the Diocese offered tts own scheme of financial support to churches throughout the Diocese where those churches that were struggling to meet their ￿MmitmentS could apply for something called "Parish Share Relief." Due to the financial situation at St Andrew's, ana lis lack of any substantial reserves, the Diocese awar(Jed St Andrew's £12.892 in relief and thus reduced the amount owed to the Diocese by the local Church for the year from £66.786 to £53.894- a saving of almost of 20 % and for which the local Church and the PCC are very grateful. both to the Diocese as a whole and to the Diocesan Finan￿ Team who administered it. However, even with this reduced target of £53,894, we found that as a local ChurGh communTty we were only able to Gontribute £39,011 duiin9 thc ycar 2020, significantly down on previous years due in the main to the impact of Covid-19 Page 2 Parochial Church Council ofStAndTew's, Congresbury Annual Reporf andAccounfs 2020 but also due to longstanding members passing away or moving on. This left a shortfall in the amount owed to the DI0￿Se for the year to the tune of £14,973 (creating our first long-tenn debtor) - this we have agr&d to pay back to the DI0￿Se over a four-year period. in addition to meeting our regular set monthly Diocese Gontribution in the future. From a TfUStees' point of view, V￿ need to make sure that we monff(or the finances carefully for the coming years especially given this long-temi additional payment from St Andrews to the Di0￿Se to clear the arrears. Vine Counselling, who are an independent major user of the Refectory building, which is owned by the PCC, were also unable to meet physically during the time of the pandemic. and therefore the Church not receive one of its key forms of regular income to help offset the costs of running the Refectory during this year, such as insurance, upkeep, etc. Although, on a more posff(ive note, some of the costs of utilities for the Rectory. such as electricity, etc. were also therefore reduced as an expenditure. The production of the Parish Magazine, called Viewpoint,. which is an important channel of physical paper communication wbth the wider Church as well as the wider community was suspended during the pandemic because of the inability to deliver physically door to door. This reduced considerably the cost of using the photocopier and paper, etc. but it also meant a loss of advertising income that is used to help offset costs. A review of the way forward for Viewpoint needs to be undertaken and discussed by the PCC On￿ we can produ physical copies again. As part of our commitment to enable the worship I"rfe of as many as possible during this time v￿. Together with our sister parish of St Andrew's. Banwell committed to provide what is known as currently as "hybrid. services, services 'on-line' using livestream as well as 'on-site' (physically in the building, which has previously been the accepted approach for a Church such as ours). This has increased our reach into a wider communty and has enabled existing members. and new, to be able to take part in worship both 'live' at the time of worship, or to 'catch up, later throughout the week at a time that better enables them to 'take time with God. by belonging to a local Church community. As part of this approach, St Andrew's Congresbury had to review and renew parts of tts sound system, in order to make such an online livestream provision possible. The cost of this was kept to approximatety £850 and was a one-off capital expense thanks to the volunteer help and advi￿ of a parishioner. Much of this cost was met by restricted member donations. Finally, during the year we receive(l a small grant Trom Nonh Somerset Council {£300) payable to °Love Congresbury. (our communty outreach ami of the PCC) to help contribute towards the cost of fuel, etc. to those delivering food, medicines, etc. during the pandemic. In addition to the items above which have impacted the lrfe of the Church and its finances due to the Covid-19 pandemic, four other items need mentioning that Page 3 Parochial Church Council ofSIAndrew's, Congresbury Annual Reporl andAccounls 2020 were more attributable to the wider lrfe of society and the Church outside of the 'bubble' that has been the impact of the pandemic. These are: In order to bring the exploratory venture of what became known as °The St Congarfs Community Co-housing Project" to a close St Andrew's loaned a further £5,350 to the Project. As part of the exploration phase of the project, the Diocese had requested that the legal basis for such a Project be assessed and tested to make sure that it could be legally as well as physically achieved. A specialist firm of solicitors were engaged who dealt with other'co-housing, legalities. In preparation for their report they undertook extensive work, which had not been requested by ourselves leading to a sizeable invoice (far in eX￿s$ of the figure above). This resulted in a fairly long running conversation wtth the firm of solicitors in order to resolve the issue. The majority of the figure indicated above (approximately £5,000) was to bring this matter to a close. The rest was to help cover outstanding monies owed for a bat survey. As at this time, the Co-housing Project, although theoretically still feasible, looks too h￿hlY speculative in order to proceed ￿rtainlY at this time. The Project of replacing the Chan￿1 chair seating was completed during the year. This had become necessary because of health and safety issue following the collapse of a number of previous chairs. Thirty-two new chairs. which needed to be of a type approved by the Diocese, were purchased, and the one-off capital cost of the chairs will be depreciated over a four-year term as per PCC policy. Unfortunately, during the year, we need to r￿Ord that, following a break in, a number of the much-loved Nativity Crib characters were stolen. The Crib S￿ne is a highlight for both the Church and village each Christmas as these characters are approximatety 24. tall and the whole S￿ne approximately 8, x 6,. Following a plea for their return on Radio Bristol. a local arbsurestorer kindly offered to repair any retumed characters. Sadly, none were forthcoming. however, the 8rtisUrestorer, with the aid of remaining characters and photographs of the scene, was able to then recreate replicas of the lost characters, and she did so at no cost to the Church, and simply cost of materials to the Church insurers. A remarkable kindness in what was a moment of great sadness. Finally, only minimal repairs to the fabric of the Church have been carried out this year in part because the Church building has physicalW had limited access apart from times of necessty. During the year Mr David Heggie, who had been our Treasurer stood down as he and his family felt called to worship at a neighbouring Church and Mrs Beth AshTon-Hllton, wno naa previously been or Treasurer very kindly was willing to take on the role again as part of a small finance team with Mr Bob Mitchell the Treasurer of St Andrew's, Banwell. Together they have worked tirelessly on the accoLsnts of both the local Church (the remit of this report) and on its part within the New Creation group of Churches. which covers salary costs for staff. etc. It is difficult to put into words the debt of gratttude all Treasurers are owed each year for their hard work, dedication, prayer, and care, but for various reasons Beth this year naa to not only PICK up the role again. she also needed to do a lot of Page 4 Parochial Church Council ofStAndrew's, Congresbury Annual Report apklAccounts 2020 additional work in order to bring the accounts into a reasonable state of affairs and for this the whole Church and the PCC are incredibty gratefiJl. We are very grateful to Mr David Seabright for On￿ again being our Independent Examiner and for all his constructive advi￿. This year as a Church and as a Chartty has been almost wf(hout precedent. As at the time of writing, it is still somewhat unclear to know what the long-term implications of the pandemic are likely to be. positively and negatively, and financially. Over the coming months a fuller assessment and understanding of these implications needs to be made and a new way foThvard for the continued faithfulness and growth of the Church needs to be found. What we do know at this stage is that how things may look in the future is likely to be somewhat different to the past but we trust ourselves to the same nature and character of God and in His purpose of sharing His love in each and every generation in the belief that He seeks always to bring hope and new possibilty out of adversity. In this time, as the pandemic is beginning to be managed, in great part due to the vaccination process, we are very mindful how the last eighteen months has affected so many in so many dtfferent ways, our thoughts and our prayers are with those who have lost loved ones, those whose lives have been changed out of all rec(KJnition, and those who continue to struggle each and every day. Matthew Thomson (Chaimian of Trustees) Page 5 Parochial Church Council ofst Andrew's, Congresbury Annual Report andAccounls 2020 AIM and PURPOSE St Andrew's Church is a chanty within the Church of England Locking deanery which is part of the diocese of Bath and Wells, comprising the Parish of StAndrew's Congresbury with Puxton and Hewish St Anne's. The charty is registered wrth the Charity Commission. The Parochial Church Council has the responsibilty of co-operation with the incumbent, in promoting in this Parish, the whole mission of the Church- pastoral. evangelical, spiritual, social and ecumenical. It also has Maintenan￿ responsibilities. not only for the Church, but also for the Refectory. ADMINISTRATIVE INFORMATION Location. ststion Road Congresbury Correspondence address.. St Andrew's Church Offi Station Road Congresbury Bristol BS49 5BN Charity Commission Registration Number. 1134086 Page 6 Parochial Church Council ofStAndrew's, Congresbury A￿M￿￿ Report andAccounts 2020 STRUCTURE GOVERNANCE and MANAGEMENT Members of the Parochial Church Council are either ex-officio or elected by the Annual Parochial Church Meeting in accordan￿ with the Church Representation Rules. During the year, the following served as members of the PCC.. Incumbent Rev Matthew Thomson Chair Associate Priest Rev Dr Howard Worsley (From Jan 2017) Wardens Mrs Sonya Stocker Mrs Ruth Wratten (From APCM 2018) (From APCM 2020) Warden Emeritus Mr Tom O'Dowd (Frorn APCM 2020} Assistant Wardens Mrs Rosemary Bailey Mrs Lynda Fell (From APCM 2018) (From APCM 2018) Secretary Mr David Ashton-Hilton (From APCM 2020) Treasurer Mrs Beth Ashton-Hilton (From May 2020) Diocesan Syncrf Mr David Ashton-Hilton (From Nov 2012) Deanery Synod Mrs Ruth Wratten Vacant (From APCM 2017) Elected Members Mr Derek Pa￿ett Miss Gemma Stocker Mr David Hares (From APCM 2019) (From APCM 2019) Representing Puxton & Hewish (Co-QPted Nov 2019) Ex-officio Members Mrs Kay Friend Mr David Kemp Lay Reader Lay Reader Page 7 Parochial Church Council ofStAndrew's. Congresbury Annual Report andAccounts 2020 COMMITTEES a) Standin Committee.. This is the only committee required by law. It has the power to transact the business of the PCC belween its meetings, subject to any direction given by the Council. Its membership consists of Incumbent. Churchwardens, Assistant Wardens, Secretary, and Treasurer. b) Finan￿ Sub-committee.. Reports to PCC; has oversight of financial matters. Chaired by the Treasurer. c) External Givin giving budget. Sub£0mmitt￿. Reports to PCC., has oversight of extemal d) Fundraisin Sub-committee.. Reports to PCC; responsible for co- ordinating fundraising. Inactive from May 2013. e) Health & Safe Sub-committee: a. In the absen￿ of a Health & Safety Offi￿r, the Standing Committee acts as the Heatth & Safety Sub-committee. b. The PCC as a whole maintsins responsibilty for all Health & Safety issues. c. Mr Thomas O'Dowd is our nominated first alder. d. Accidents are to be reported to the Church Administrator who monitors the first aid book. e. The asbestos register is available for review upon request. f. Risk Assessments are completed for every event. g. The PCC is to ensure that all contractors have their own H&S policy and appropriate insurance. h. The PCC is to ensure that all events NOT sponsored by the PCC have their own Public Liability insuran￿. Our full policies related to Health & Safety, Risk and Lone Workers are available upon request. P.C.C. MEETINGS Due to the Covid-19 pandemic and much of the year being spent in lockdown or under social distancing lim5tations for meetings, the full PCC met on only three occasions during the year. Additionally. three meetings were held jointly with the PCC of St Andrews Banwell. Any business at the joint meetings requiring PCC approval was voted upon by the separate legal bodies. All meetings were held via Zoom and were quorate. Page 8 Parochial Church Council ofstAp￿Tew,$. Congresbury Annual Report andAccounts 2020 INDEPENDENT EXAMINER'S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF ST ANDREWS. CONGRESBURY WITH PUXTON AND HEWISH ST ANNE'S I report on the accounts of St Andrew's, Congresbury with Puxton and Hewish St Anne's for the year ended 31 De￿mber 2020, which are set out on pages 10 to 16. Respective Responsibilities of Trustses and Examiner The PCC of St Andrew's, Congresbury with Puxton and Hewish St Anne's are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the 2011 Act; follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention. Basis of Independent Examiner's Report My examination was carried out in accordance with the general Directions grven by the Charity Commission. An examination includes a review of the accounting records and a comparison of the accounts presented wtth those records. It also includes consideration of any unusual iiems or disclosures in the accounts and seeking explanations from the members of the PCC as Trustees con￿MIng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a.true and fair vievf and the report is limrted to those matters set out in the statement below. Independent Examinefs Statement In connection with my examination, no matter has come to my attention.. (i) which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordan￿ with section 130 of the 2011 Act,. and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. David E. Seabright Date: Page 9 Parochial Church Council ofStAndrew's, Congresbtffy Anptual Report andAccounts 2020 ststement of Financial Activities Unrestricted Restricted funds fLSnd Total funds Prlor year total funds In¢ome and endowments from: Donations and legacies Income from charitable acJivth5 Other trading actNitiès Investments Other income Total ineomè 94.155 2.805 2,143 876 97.093 2.805 3,113 1,608 20.942 125.568 116,266 970 731 12.827 17.273 4,514 1,971 108.295 143.893 ExpendItu￿ on.. Expenditure on charststrAe adNities Other expenditure Support costs Total gxpendlture 92.757 5.813 1,408 99,979 9.482 7.456 102,240 13.269 1,558 117,068 157.949 7.647 1,824 187,420 17,089 Net In¢om* I (ex￿ndIture) re8our¢es bgfoye transfer 8.315 183 8.499 123,527 Transfvr¥ Gross transfers between fvnds- in Gross transfers beNveen fiJnds- OLrt Other recognised gains I losses Gains I losses on invesbnent assets Gains on revaluation, fixed assets. chariils own use Net movement in fvnts 3.598 (11.245) 11,245 {3.5981 14.844 114,344) 15,480 115.480) 1.332 3.053 669 9,126 9,832 120,4731 Totsl funds brought farward TT,031 82,315 159.346 179,820 Total funds carried foTh¥4rd Tl.700 91.478 169.179 159.346 Page 10 Parochial Church Council ofst Andrew's. Congresbury Anm￿l Report aP￿ACCOUntS 2020 Balance sheet 2020 2019 Fi¥ed assets [2] Tangibk assèts Herrtage assets Inveslrnents 51,037 51,120 1,956 19.379 72.456 20.712 73.705 Debtor5151 Cash at bank awj in harKI 7.614 .535 94,149 12,318 100,$27 Curtent As8èts and Llabilrti¢& Amounts falling due In one year Credrtors141 17.51 Net cwrent assets less CUFrent118bllS1188 87,088 83.IMO Long Teffli As8et8 and Uakn"1rt6es Arnounts tsllirvJ due aftef f￿[B than year Assets Deblor5151 Liabilltles Creditots141 41.684 37.180 &3 3tK> Totsl n8t8888ts 1088 liabllt 169,177 159,346 Unrestrthl DeswJnat*l Restri￿ed Funds ofthe church 11.668 .031 91.472 3.594 73.437 82.315 1S9,346 We approve the financial infomiation which comprises the Statement of Financial Activities, Balance Sheet and the related notes. We acknovAedge our responsibility for the financial infomiation, including the appropriateness of the accounting basis, and for providing David E. Seabright with all infomiation and explanations necessary for the compilation of the independent examination. Matthew Thomson Chaimian, on behalf ofthe PCC Date: Iz Page JJ Parochial Church Council ofSI Andrew's, Congresbury Artm￿l Report andAccounts 2020 Fund movement by type OpenlTrJ In¢(miNJ Oulgolng Tr￿ Galnsiiosses Closing 8ulldlng- Building fvnd DeS￿nated Restricted Sub-total for Buildiny $30 257 787 217 747 40 ¢hurchOrv- Church Drivelund Designated Sub-total for ChurchDrv 3,500 Discretion- Vicarfs Discrelionar Designated R8stri(thd Sub-totsl for D18cretlon 156 $20 876 12.8211 268 268 3,072 Equlpm•nt- Church Equlpment (FI Designated SutFtotal for Equipmerrt 838 F8eOrgan- F808-Oryan18t Restricted sU￿tOtal for Faeoryan Feosuperyl. Foes-supend Restricted Sub41)*al ft>r Feestipend 120 120 5.807 1331 Gonoral- Goneral fund Unrestrided SulAotal forGeneTrl 101.758 101.758 92.611 92.611 1.072 11.0721 11,668 Qymkhana. Gymkhana Benwo Restricted s￿￿t0*al forGymkhana Inv8Stment- Inv8stm8nts Restrict8d Sub.totsl lor Inve8b7 19.379 1.332 1.332 20.712 20.712 Lan&Bulld. Fr99￿d land and bu Designat8d Restricted Sub-total for Land&Jtkl 21.492 27.358 599 762 1A61 2D,893 26.596 47,489 LC.ACTS. Love CongrnSt￿ry. W Rtrstricted Sub.totsl for LC.ACTS 130 130 130 LCEvgnts- Love CoThJr95bury. E Restrict8cS sub.total for LC*vents 1.19) 1.190 1.235 1,235 LOGCABIN - Log Cabln Re$tricled Sub4otal for LOGCABIN 18.265 18.266 18.26S Iharshall - Mayshall fund Re5t[￿tEd Subtotal for Mars￿1 31 731 731 315 Isooi NLroation. Creatlon Restr￿e￿ sub.total for N£reation 12941 3.792 PrayGarden. Prayer Garden dorwti Restri(*ed Sub-total for PrayGarden 3.315 3,315 3.315 Page 12 Parochial Church Council ofS¢ Andrew's, Congresbury Annual Report andAccounts 2020 Op8niw Incoming Outgoirnj Gainwlosses Clc4ing Sch-Blbles- Blbles for %hool le Restricted sut￿tOtal for s¢￿Ible% 174 174 730 730 2.027 2,027 2,583 Spe¢ial_ s￿la1 Projects frjn Designated Re51ncted Sutstotsl fr*rSpÈelal 41.239 11.292 51532 41.638 10.223 51.862 1.041 6,841 2.110 7.510 SundaySth- Sunday school fund Designated Restricted Sub-total forsunday-sch 3,610 14.2511 16 16 1670 4.234 Temp- Non-churth lurmls to Re$tri¢ted Sul>total fo¥Temp 197 197 167 167 1.637 1.667 Toybox-Toybox lund Restrthd SUWI forToybtsx 432 432 432 432 Zambla-Zambla-Travel Sut Reslrthd S￿￿t0￿1 forZ*nUa 123 123 123 123 Grand tolal Page 13 Parochial Church Council of& Andrew s, Congresbury Anmial Report arhlAccounls 2020 Notes to the Financial Ststements l Treasurer's Report For the year ending 31 December 2020 ACCOUNTING POLICIES: The finanoal ststements h8ve been prepared in accordance wrth the Church Ac£ount£ng Regulations 1997 as amended by the Church Accovnting IAnwKlmenl} R￿JUla￿.0￿s 2CK11 together with the applicable accounting standards and Ihe charit￿S SORP. The finanual statements have been prepar￿j underthe h¥stori(*l cost 1x)n￿lion exc£pt tr the valuabon of investment assets, which are shown al market vatue. Rgserrfes pollcy We aim to have 20°A of our annual 8xpenditure available for runniThJ costs and corrtingenue$ for emergenraes. This wouk* am(￿nI to approximate￿ £25.OCK). At 31 December 2020 we held £11,868 in ￿n￿Stricted funds and £44,638 in designated funds. Funds Uniestricted fijnds represent the funds Of1￿ pcc that are subject to any restrictions regarding their use and are available for applub.on on the general purpK)se5 of the PCC. Funds dassffied as Designated have been set aside for a pari￿AlIa[ purpc6e by the PCC. bjt are availa￿• lor transfèr to gengial use at the PCG'5 discretion. Incoming resources Collections are rewgnised and apFlI￿ to tr* w>)unling year when receNed by or on behaff of the PCC. Planned giving r￿1¥&1 urMJef Grft is wMJniged arvj applied to the accounb.ng ye8rvA)en received. Income t8x reex)vèr8ble on Gift Aid donations is reccy)ised during the year to which they apply. Recovery of tax ft>i the last month is a￿Unted forand acc¥ued as soon as the PCC i8 advised by the Gift Aid Secretsry that a daim has been filed ar￿ the amountlsl of such daim. Grarkts and legactes to the PCC are acLounted for as s(K)n as the PCC is nOtif￿d of its legal entittement, the amount due is ql$antifiab￿ and its ullirnate ￿elpt by Ihe PCC is ￿asOnablY certain. Fun(ts raised by events have been ¥¢ounted for gr&s5. Income from investments Dividends a￿ accounted ft)r when due and payable. It7twest entruements are accounted for 8S thèy aixrue. Tax ￿(￿)ver¥ble on suth i￿Nne k% re(x)gnised in the same acxounbng yèar. Gains and losses on investhients Realised gains or losses are recognised when inveslrnents are sord. Unrealised gatns or losses a￿ accounted for on reValUab￿ of investmants at 31st D￿eMber. Resources used Grants and donations are a(YxJunted forwhen paid over. or when warded, rf that awarfl cre*e$ a tinding obltqatKJn on the PCC. Activities dir•etly rolating to th• work of th• Church The diocesan parish share is ￿l￿nt￿l for paKI. Fixed assets: Consecrnted property and movèable church furnighlngs Consecrated and benefi(2d p￿perty of any kind ss exduded from the a(tounts by S.￿{21{al ofthe Charikn"e5 Act 1993. Page J4 Parochial Church Council ofStAndrew's, Congresbury Annual Reporl andAccounls 2020 Moveable church lumishings held by the Vicar and Churth¥ardens Irusl forthe PCC. 8nd which require a facuty lor disposal. are accounted as inalienable propety unless o)nsecrated. For inalienable propety acquired pri￿ to 2005 Ihere is insuffiGient LX)St inf0M￿tKIn availab￿ and therefore such assets ale not valued in the accounts. Item5 over £1.(M)O acquired since 1 January 2005 have been capitalised and depreaated in the a￿￿nIS over ¢xJtTentty anknry"pated useful eo)nomic lrfe on a straight-line basis. All eX￿ndItUre incurred in the year on u)nsecraled or beneficed b￿ldingS. individual itams undèr £1.000 or on the repair of moveable church fumishiThJs acquired before 1 January 2005 is Wr￿en off in the year of acquis￿0￿. Flxed assets: Other fixtures. ffttlngs and t)ffice equlpment Equipment used wrthin the chtjrth premises Is depre￿ated on a 5traight-line basis over 4 years. Irvjividual items of equipment wth a purchase pri￿ of £l.(KXJ or kn are written off ¥Yhen the asset is ac4uired. Investments Investhents a￿ valugj at markèt va￿* at 31 De¢emter. Currgnt a$sgts Short temi deposits indude ￿$h held on de￿$it either the CBF Church of England Funds or at the bank. FIXED ASSETS: Heritage assets comprise of Glebelands at hiSt￿¥C cost of £1.951 and Refectcry at cost of £5. Tangthle assets comprise of Stable Bl(K* at £45.534. and Cha￿1 Chairs at £5.SM. Through 2020 these were deyea8ted in line ￿ rDIicy. The Stsble Blod( was reduced by £1.361. Depreciation of the Gh8ncel Chairs began in 2020 followirvJ ￿e￿ery of the final order. Total LX)St of the cha&rs was £6,774 and they were depreiiated in 2020 by £1.270 leaving a Val￿ 81 ￿ end of 2020 of £5.504. The Church Bcxlers, hawng been purrhased arKI installed in 2016, wwe fully depretyated in 2020, beÈng redtxxl by £839. Investrnents a)mpiise of £20,712 in sha￿S which inueased in value by £1,332 over 2019 and where the income is rèstrict8d for use with Youlh & Children'$ ¥York in the parish. NOTES ON EXPENDITURE: The Parish Share increased Irom the 2019 amount by gpproximatety 2.5%. This followed 8 6% increase in 2019 over 2018. These itxreases are due to annual increases tn Ihe Dtrfesan budget and th8n9es in our membership numbers resulting ti) a h￿herShare for St Andrews CongreS￿ry. Dueto ieduwl irwme during the pandemi¢ we were unable to pay our fijll Parish Share during 2020. Relief In the amount of £12,892 was received from the Di￿eSe leaving an arrears of £14,973 at Ihe end of 2020 which wll bè repaid over a perKxl of sèveral yeats beginnirw in 2021. CREDITORS: Creditors comprise a loan of £33,3￿ the DKM￿e of Bath & Wells. £3.376 in s14pends receNed ￿lated to Occastonal Offices also due to the DKtese of Bath & Vvells: £762 due to New Cre*ion Churches CIO, £2.711 due to Rev Matthew Thomson for expenses and £211 other short-term (xeditors. The existing loans from the D￿tese of Bath & Wells linth"81ty £14,5CK> payable on demandl were previously combined a new loan of £18.8￿ into a Sing￿ h)an of £33,SJ) with a fivtryear tem and secured against the sale or eventual development of G￿b￿ands. Interest on the loan is txlculaled at a daily rate of one Ihree hundred and sity-)lfth ofthe nominal interest Tate of 2% over 8oE base rate 8nd is payable upon the loan repayment