PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST BECKENHAM
FINANCIAL STATEMENTS FOR THE YEAR ENDING
31st DECEMBER 2020 amended 15.10.21
| Page | |
|---|---|
| Independent Examiner’s Report | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Accounting Policies | 4 & 5 |
| Supporting Tables & | |
| Notes to Financial Statements | 6 – 9 |
| Funds | 10 |
| Church Organisations Accounts | 11 |
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INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF ST. JOHN THE BAPTIST BECKENHAM
This report on the financial statements of the PCC for the year ended 31 December 2020, as set out on the attached pages, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (“the Regulations”) and of the Charities Act 2011 (the Act).
Respective responsibilities of the PCC and the Examiner
As members of the PCC you are responsible for the preparation of the financial statements: you consider that the audit requirement of Regulations does not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations.
Basis of the Report
My examination was carried out in accordance with the General Directions given by the Charity Commission under s.145(5)(b) of the Act and to be found in the Church guidance, 2006 edition. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statement
During my examination, no matter has come to my attention:
-
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 Act: and
-
to prepare financial statements which accord with the accounting records and comply with the requirements of the Act and the Regulations 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.
Signed: T Catherall
Dated: 18.10.21
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PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST BECKENHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2020
| Notes | Unrestricted Funds – general |
Restricted ~~&~~ Designated Funds |
Total Funds |
Total Funds |
|
|---|---|---|---|---|---|
| 2020 | 2020 | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| INCOMING RESOURCES | |||||
| VoluntaryGiving | 1 | 179,016 | 11,700 | 190,716 | 194,762 |
| Special Collections | 2 | 0 | 4,015 | 4,015 | 5,050 |
| Income from Investments | 3 | 307 | 311 | 618 | 635 |
| Church & Community Activities |
4 | 66,918 | 0 | 66,918 | 116,316 |
| TOTAL INCOMING RESOURCES |
246,241 | 16,026 | 262,267 | 316,723 | |
| RESOURCES EXPENDED | |||||
| Missionary & Charitable Giving |
5 | 15,000 | 0 | 15,000 | 15,100 |
| Church Activities | 6 | 232,347 | 22,527 | 254,874 | 276,647 |
| Special Collections | 2 | 0 | 3,105 | 3,105 | 5,305 |
| Vicar’s DiscretionaryFund | 0 | 1,684 | 1,684 | ||
| TOTAL RESOURCES EXPENDED |
247,347 | 27,316 | 274,663 | 297,052 | |
| NET INCOME / EXPENDITURE |
-1,106 | -11,290 | -12,396 | 19,671 | |
| Transfers between funds | 11 | -22,000 | 22,000 | 0 | |
| 2,908 | -2,908 | 0 | |||
| NET MOVEMENT OF FUNDS |
-20,198 | 7,802 | -12,396 | ||
| Total funds brought forward |
131,241 | 92,016 | 223,257 | ||
| TOTAL FUNDS CARRIED FORWARD |
111,043 | 99,818 | 210,861 |
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PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST BECKENHAM
BALANCE SHEET
FOR THE YEAR ENDED 31st DECEMBER 2020
| Notes | 2020 | 2019 | |
|---|---|---|---|
| £ | £ | ||
| FIXED ASSETS | |||
| Tangible | 7 | 2,393,950 | 2,385,000 |
| Investment | 8 | 5,408 | 5,061 |
| 2,399,358 | 2,390,061 | ||
| CURRENT ASSETS | |||
| Short term deposits | 146,494 | 136,022 | |
| Cash at bank & in hand | 64,367 | 79,483 | |
| 210,861 | 215,505 | ||
| NET CURRENT ASSETS | 210,861 | 223,257 | |
| TOTAL NET ASSETS | 2,610,219 | 2,613,318 | |
| Represented by: | |||
| Fixed Asset Reserves | 2,399,358 | 2,390,061 | |
| Parish Funds: Restricted Designated Unrestricted – general TOTAL PARISH FUNDS |
9 | 46,126 53,693 111,042 210,861 |
57,551 34,465 131,240 223,256 |
| 2,610,219 | 2,613,318 |
Approved by the Parochial Church Council on 25[th] February 2021 and signed on its behalf by:
David Jones……………………………………………………….................. (Chair of PCC)
Andrew Foulds/David Johnson…………………………………………… (Treasurer)
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PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST BECKENHAM
ACCOUNTING POLICIES
The Financial statements have been prepared in accordance with the Church Accounting Regulations 2006, together with applicable accountancy standards and the Charities SORP 2005.
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.
FUNDS
General 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. Funds designated for a particular purpose by the PCC are also unrestricted. The purpose of each restricted fund is implied by the fund’s designation. The accounts include transactions, assets and liabilities for which the PCC can be held responsible. All activities at St John’s Church are consolidated except for those of the Bookstall, Ark, Focus and Link, summary details of which are appended to these notes. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.
During the year, transfers were made from reserves held in the Diocesan Repair Fund (designated) to cover the cost of expenditure on the halls (£1,405) and on 21 Glanfield Road (£1,505.45). In addition the church drew £20,900 from legacy funds held in the General Reserve to meet the costs of equipment purchased to enable the streaming of services.
INCOMING RESOURCES
Voluntary Income:
-
Collections are recognised when received by or on behalf of the PCC.
-
Amounts receivable under Gift Aid declaration are recognised only when honoured by the donor.
-
Income Tax recoverable on Gift Aid donations is recognised when claimed.
-
Income raised by fairs and other similar events are accounted for gross.
Income from Church Activities:
Rental income from letting the church halls, flat, and 21 Glanfield Road is accounted for when due and received.
Fees due to the PCC for weddings and funerals are accounted for when received.
Income from Investments
Dividends and interest are accounted for when due and notified.
4
Investment Gains and Losses
Realised gains and losses are recognised when investments are sold. Unrealised gains and losses are accounted for on revaluation of investments at 31 December.
Resources Used:
Grants:
Grants and Donations are accounted for when paid or transferred to Restricted Funds.
Costs directly related to the work of the Church:
The Parish Pledge is accounted for when due.
Fixed Assets:
Consecrated property and movable church furnishings:
Consecrated and beneficed property is excluded from the accounts by s.96(2)(a) of the Charities Act 1993.
No value is placed on movable church furnishings held by the church wardens on special trust for the PCC and requiring a faculty for disposal since these are considered to be inalienable property.
All expenditure incurred during the year on consecrated or beneficial buildings and movable church furnishings, whether maintenance or improvements, is written off.
Other land and buildings:
Other freehold land and buildings held on behalf of the PCC for its own purposes is valued at market or insurance value.
Other fixtures, fittings and office equipment:
Equipment used within the church premises is either written off in the year in which the asset is acquired or written down on a straight-line basis over 4 years.
Investments:
Investments are valued at market value at 31 December.
Current Assets:
Cash on Deposit is held either with the Diocese or with CAF Bank.
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PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST BECKENHAM
SUPPORTING TABLES & NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31st December 2020
1. Voluntary Income
This includes all planned and other giving as follows:
| TABLE 1 | Unrestricted Funds |
Restricted Funds |
Total | Funds |
|---|---|---|---|---|
| Voluntary Income | 2020 | 2020 | 2020 | 2019 |
| £ | £ | £ | £ | |
| Planned Giving | ||||
| Gift Aid donations | 91,983 | 0 | 91,983 | 82,659 |
| Offeringenvelopes | 8,535 | 0 | 8,535 | 15,155 |
| GivingincludingTax | 2,200 | 0 | 2,200 | 4,130 |
| Tax recovered | 25,887 | 0 | 25,887 | 28,287 |
| Other Giving | ||||
| Cash collections | 3,678 | 0 | 3,678 | 5,982 |
| Sundry donations | 46,733 | 0 | 46,733 | 12,280 |
| Legacies | 0 | 0 | 0 | 10,000 |
| MinistryFund_(restricted)_ | 0 | 3,554 | 3,554 | 12,519 |
| Sacred Garden_(restricted)_ | 0 | 8,146 | 8,146 | 23,750 |
| TOTAL INCOMING RESOURCES | 179,016 | 11,700 | 190,716 | 194,762 |
2. Special Collection Fund
This is gross Income & Expenditure for Special Collections Reserve Fund in 2020
| TABLE 2 | Collection Income |
Collection Payments |
Balance |
|---|---|---|---|
| Special Collections Fund | 2020 | 2020 | at 31.12.20 |
| £ | £ | £ | |
| Special Collections(restricted) | 4,015 | 3,105 | 910 |
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3. Income from Investments
This includes interest from bank accounts and sums deposited with the Rochester Diocesan Board of Finance
| TABLE 3 | Unrestricted Funds inc designated |
Restricted Funds |
Total | Funds |
|---|---|---|---|---|
| Income from Investments | 2020 | 2020 | 2020 | 2019 |
| £ | £ | £ | £ | |
| Bank Accounts | 0 | 24 | 24 | 50 |
| Diocesan Accounts | 443 | 0 |
443 |
438 |
| CBF – Share Income | 0 | 151 | 151 | 147 |
| TOTAL INCOME FROM INVESTMENTS |
443 | 175 |
618 |
635 |
4. Church & Community Activities
| TABLE 4 | ||
|---|---|---|
| Income from Church & Community Activities | 2020 | 2019 |
| £ | £ | |
| Church Flat Lettings | 8,040 | 8,060 |
| 21 Glanfield Road Lettings | 15,890 | 13,942 |
| Hall Rentals | 41,039 | 81,605 |
| Fees – Weddings & Funerals | 601 | 2,504 |
| Youth / CYFA | 260 | 51 |
| Contributions and refunds | 1,088 | 1,660 |
| Parish Weekend / Summer Camp | 0 | 8,494 |
| TOTAL INCOME FROM CHURCH & COMMUNITY ACTIVITIES | 66,918 | 116,316 |
5. Missionary & Charitable Giving
Expenditure by way of grant payments from Mission Fund
| TABLE 5 | Unrestricted Funds |
Restricted Funds |
Total | Funds |
|---|---|---|---|---|
| Missionary & Charitable Giving | 2020 | 2020 | 2020 | 2019 |
| £ | £ | £ | ||
| Open Doors | 5,000 | 0 | 5,000 | 5,000 |
| MissionaryAviation Fellowship | 5,000 | 0 | 5,000 | 5,050 |
| Christians Against Poverty | 5,000 | 0 | 5,000 | 5,000 |
| Churches Together in Beckenham |
0 | 0 | 0 | 50 |
| TOTAL MISSIONARY & CHARITABLE GIVING |
15,000 | 0 | 15,000 | 15,100 |
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6. Expenditure on Ministry, the running & maintenance costs of the Church, Halls, Office and other activities
| TABLE 6 | Total | Funds |
|---|---|---|
| Church Activities - Expenditure | 2020 | 2019 |
| £ | £ | |
| Diocesan Pledge | 114,000 | 84,160 |
| Ministry: Housing and expenses | 35,954 | 39,947 |
| Ministry: general running expenses of ministry | 23,888 | 4,682 |
| Interregnum | 0 | 2,199 |
| Church & Halls running and administration | 41,643 | 53,241 |
| Cleaning | 4,041 | 14,467 |
| 21 Glanfield Road insurance | 479 | 488 |
| Maintenance & Repair | 9,235 | 9,043 |
| Youth/CYFA | 1,965 | 858 |
| Music | 1,142 | 1,516 |
| Major Repairs | 0 | 35,090 |
| Parish Weekend / Summer Camp | 0 | 15,876 |
| Sub-total (unrestricted) | 232,347 | 261,567 |
| Sacred Garden_(restricted)_ | 22,527 | 5,783 |
| Vicar’s Discretionary Fund_(restricted)_ | 1,684 | 15,876 |
| Ministry Fund_(restricted)_ | 0 | 9,297 |
| CHURCH ACTIVITIES EXPENDITURE - TOTAL | 256,558 | 292,523 |
7. Tangible Fixed Assets
| TABLE 7 | ||
|---|---|---|
| Buildings | Value 2020 |
Value 2019 |
| £ | £ | |
| 21 Glanfield Road | 458,950 | 450,000 |
| Large Hall & Flat | 325,000 | 325,000 |
| New Halls | 1,610,000 | 1,610,000 |
| TOTAL VALUE | 2,393,950 | 2,385,000 |
The value of 21 Glanfield Road is based on its insurance value as at December 2020.
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The Large Hall is shown at its book value in 1997. As this is a functional property used by the PCC for its activities there is no need to undertake a market valuation. The New Halls value is based on the insurance value at December 2017.
8. Investment
This relates to a holding of 264 shares in the CBF Investment Funds. The Rochester Diocesan Society and Board of Finance is the custodian trustee. The book value of these shares is £200. The income is credited to the Fabric Fund.
9. Parish Funds
An analysis of Restricted, Designated and Unrestricted Funds is shown on page 10.
10. General
Further notes not related to individual items within the financial statements are as follows:
Staff Costs
During the year, the PCC employed a part-time Church Office Administrator, a parttime Halls Bookings Administrator, and a part-time Cleaning Supervisor.
The total cost of salaries, pension & related social security costs and overtime in the year was £22,202 (2019: £26,084).
,
Pension Builder Scheme
The PCC participates in the Pension Scheme section of CWPF for lay staff. The scheme is administered by the Church of England Pension Board. The pension costs charged in the year are contributions payable.
Reserves Policy
As at 31st December 2020, funds determined by the PCC as restricted totalled £46,126. £53,693 has been designated by the PCC for specific property-related purposes and is held at the diocese in Diocesan Repair Funds, and the remaining General Reserves (unrestricted) total £111,042.
9
11. FUNDS 2020
| TABLE 8 | Balance | Income | Transfer in |
Transfer out |
Expenditure | Balance |
|---|---|---|---|---|---|---|
| FUNDS | at 1.1.20 |
2020 | 2020 | 2020 | 2020 | at 31.12.20 |
| £ | £ | £ | £ | £ | £ | |
| Restricted Funds | ||||||
| Ministry Fund | 30,333 | 3,578 | 0 | 0 | 0 | 33,911 |
| Special Collections Fund | 0 | 4,015 | 0 | 0 | 3,105 | 910 |
| Youth Experience Fund | 5,000 | 0 | 0 | 0 | 0 | 5,000 |
| Sacred Garden Fund | 17,967 | 8,146 | 0 | 0 | 22,527 | 3,586 |
| Fabric Fund | 1,752 | 151 | 0 | 0 | 0 | 1,903 |
| Vicar’s Discretionary Fund | 2,500 | 0 | 0 | 0 | 1,684 | 816 |
| Total Restricted Funds | 57,552 | 15,890 | 0 | 0 | 27,316 | 46,126 |
| Designated Funds | ||||||
| Church DRF | 15,027 | 61 | 10,000 | 0 | 0 | 25,088 |
| Halls DRF | 13,200 | 54 | 10,000 | 1,403 | 0 | 21,851 |
| 21 Glanfield Road DRF | 6,238 | 21 | 2,000 | 1,505 | 0 | 6,754 |
| Total Designated Funds | 34,465 | 136 | 22,000 | 2,908 | 0 |
53,693 |
| General Reserve Funds | ||||||
| General Reserve | 79,483 | 307 | 0 | 20,900 | 0 | 58,890 |
| CAF Cash | 44,005 | 245,934 | 23,808 |
22,000 | 239,595 |
52,152 |
| DRs/CRs 20 | 7,752 | ~~-~~ | ~~-~~ | ~~-~~ | 7,752 | ~~-~~ |
| Sub-total | 51,757 | 245,934 | 23,808 |
22,000 | 247,347 | 52,152 |
| Total General Reserves | 131,241 | 246,241 | 23,808 | 42,900 | 247,347 | 111,042 |
| TOTAL FUNDS | 223,257 | 262,267 | 45,808 | 45,808 | 274,663 |
210,861 |
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PAROCHIAL CHURCH COUNCIL OF ST JOHN THE BAPTIST BECKENHAM
CHURCH ORGANISATIONS ACCOUNTS 2020
(not included in the above statements)
| TABLE 9 | ||||
|---|---|---|---|---|
| Organisation | Opening Balance | Income received |
Expenditure | Closing Balance |
| at 1.1.20 | 2020 | 2020 | At 31.12.20 | |
| £ | £ | £ | £ | |
| St John’s Bookshop |
3,568 | 898 |
719 | 3,751 |
| Ark | 474 | 583 | 441 | 616 |
| Focus | 479 | 294 | 268 | 510 |
| Link | 466 | 893 | 1,139 |
220 |
11