## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ILMINSTER
Charity Number 1134398
Working name:
## ST MARY'S, ILMINSTER PCC
## REPORT AND ACCOUNTS
for the year ended
31 December 2020
## ST MARY'S, ILMINSTER PCC
## REPORT AND ACCOUNTS
for the year ended 31 December 2020
||Contents||
|---|---|---|
|||Pages|
|Annual Report||1 - 5|
|Statement of Financial Activities||6|
|Balance Sheet||7|
|Notes to the Accounts||8 - 14|
|Independent Examiner's Report||15|
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
## Aims
The Rev Jo Stobart is the Vicar of St Mary's Church, Ilminster (The Minster). The PCC work to promote the worship of God and spread the good news of God’s love. The PCC has responsibility for the upkeep of the Minster and of the Minster Rooms. The aim of the church is shared with Whitelackington, to be ‘Beacons of Christ’s light - sharing our love for God and our neighbours; Worshipping God – Serving others – Striving for fairness’.
## Objectives
The PCC will achieve our vision by:
- worshipping God and growing in faith
- serving our local communities
- striving for a fairer and kinder world
The PCC is committed to working with the congregation and community to achieve and develop these aims within the restrictions of lockdown and despite the disruption caused by Covid-19.
The PCC has also considered the Charity Commission’s guidance on public benefit when setting its objectives and, in particular, the supplementary guidance on charities for the advancement of religion.
## The PCC
The PCC met 7 times during the year, including an away day in October, which is more than usual due to the disruption caused by the Covid-19 pandemic, and the Standing Committee met more frequently than usual to consider the implications of lockdown and assess the risks as we re-opened between lockdowns.
The appointment of PCC members is set out in the Church Representation Rules. The PCC consists of the incumbent, churchwardens, and members of the congregation who are on the electoral roll of the church. All members of the congregation are encouraged to register on the electoral roll and stand for PCC. PCC members also serve on committees and groups alongside other church members.
These committees and groups meet separately from the PCC, where possible, and regularly report back to the PCC.
The PCC had its first online meeting in June, although an Extended Standing Committee had met online several times prior this, to consider the impact of Covid-19. In June, it was confirmed that the Benefice Administrator had agreed to be furloughed. The Government Scheme was altered with short notice, which meant that this started earlier than originally expected. The PCC considered ways in which The Minster Church could re-open including no singing in the services, a booking scheme, social distancing, the time frames between using the seats vs cleaning, and online services. Recruitment for the CFLL role was paused until October 2020 due to lockdown and the closure of the schools.
We met in September via Zoom and the organ update advised that the repairs had slowed down due to lockdown. The Data Protection Report gave the PCC disappointing news that there had been 5 breaches, including 2 which were reported to the ICO, and separately a complaint regarding personal data. The PCC was reminded that we are not permitted to hold medical information and any information of this nature can only be shared with written agreement. Personal information such as email or address cannot be shared either. The PCC received a 6 monthly Data Protection update for PCC members and leaders.
The Foodbank and Foodshare used the Minster Rooms as a temporary base during lockdown. They have noticed an increase in use and support of the Foodbank, requiring more storage space. Space has been made in Minster Rooms.
1
ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
The PCC reviewed the report Where we are now? A diocesan snapshot. This considered 4 questions.
1. In your experience, what have churches done which has been good in the pandemic, so far? Our answers included: Online Services, Pewsheets with prayer, Foodbank into the community, Zoom coffee.
2. What opportunities do you think the church has missed during the pandemic? We said: At the start, the CofE taking a lead, link to voluntary groups and Covid 19, Easter due to the timing of lockdown, workloads and singing.
3. What has been lost from your own church experience that you would like back, and what has gone that you don’t particularly miss? We missed: All Age Worship, Social Gatherings, Services but not the set time, Battle of Britain and cadets coming to church, Music community and fellowship, Children in church, Face to face PCC meetings, Fellowship, Rhythm of life and known services. Not Missed: Evening services, Formal services, Face to face PCC meetings.
4. What do you think the future might look like for the church, after Coronavirus? What are the opportunities and the challenges that we will have? We thought: Creativity, More flexible at local level but query at higher levels, Less formal but appreciate this involves more work/effort to create and workloads already high, A good time to look at church, what we are and could be, The online following. Covid has pushed our technology forward, which is a good thing, but we don’t want ‘online’ to be a reason to close smaller churches, the rhythm of seasons and church year is important, we value of our Vicar who has worked very hard, Balance needed. Maintain new initiatives while not losing what we have. It will be difficult to re-engage young people after Covid.
The PCC had an ‘Away Day’ in the Minster Rooms/via Zoom in October, which started with a Bible Study on the Parable of the Wedding Banquet. The PCC’s 2020 Vision is 6 years old and with the website review, the PCC considered whether our strapline is right for us now. As part of the process, we considered ‘What it means to be an open and welcoming church’, and ‘Who are we welcoming and who is missing?’. We looked at images to consider what our logo could mean. This discussion led to us considering ideas for our strapline.
In November the meeting started with a DPA Refresher Training session. The Finance Report was much better than expected. We budgeted for a deficit of £13,700 but have a surplus of £20,700. However, this was due to legacies and grants received and because we hadn’t received the invoices for the organ repairs. The PCC considered and then agreed a permanent move of the Foodbank to the Minster Rooms. To do this, PCC reviewed the Ilminster Foodbank Additional Health & Safety Policy, Ilminster Foodbank Procedures, COVID-19 Risk Assessment – Foodbank, and General Risk Assessment – Foodbank. Jo gave the PCC an update on the Deployment Report, which is looking to the future. Locally, we may have fewer clergy with larger areas for them to cover and more lay people assisting. COVID-19 has escalated these plans. It was also noted that online services are reaching more in the community. This was the first meeting after the delayed 2020 APCM and Peter Mackay was appointed as Vice-chair of the PCC.
In February 2021, the PCC considered the re-opening of church for in-person services and agreed to start slowly with two services; Wednesday morning and Sunday at 8am to reach those not online first. Live streaming of services has been important during the last year, and this is currently done with a mobile phone and tripod. Live streaming has meant that we are reaching those who have moved away or cannot attend church. We have had quotes for a live streaming service of around £12k but we could do ourselves for around £3k or £4k. There will be a camera at the back of church (high up) and it will be controlled with a joystick. It can be programmed to pre-set views – the Nave Altar, the Pulpit, the Font etc. The congregation will be able to sit in safe zones. Those presenting within the service will need to give permission. A list of policies and an approach to create/maintain them was circulated.
Most are employer responsibilities and include safeguarding recruitment for volunteers. We re-advertised the CFLL role in December 2020, as we were unable to recruit in October 2020, with a closing date in January 2021 but didn’t receive any interest in the role. As there is no face-to-face children’s work it was agreed to review this in Autumn 2021.
2
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
We met via Zoom on 7 April to approve the Report & Accounts. During the year we received a Covid grant, legacy and the Foodbank also received money. Our unrestricted funds show a surplus of £10,125 whilst restricted funds show a deficit of £11,723. Planned giving was expected to drop due to Covid-19; however, there was a switch to Standing Orders which resulted in a small increase in giving.
Jen presented a suggested approach & timetable to complete the PCC policies, which was agreed. The timetable reflects the pattern of the PCC meeting with the aim of reviewing & maintaining existing policies and creating new PCC policies.
The PCC amended its previous resolution on SIR reporting to delegate the responsibility of reporting Safeguarding SIRs to the Diocesan Safeguarding team and changed all references in this resolution from named individuals to the title of the relevant office holder.
The APCM for 2020 to 2021 will be held on 23 May 2021. As this report needs to be displayed for 2 weeks before the APCM, it means that the final PCC meeting on 10 May 2021 will be included in next year’s Annual Report.
Standing Committee This is the only committee required by law. It has delegated power to transact the business of the PCC between its meetings and prepares the agenda for the PCC. This year the Standing Committee has considered plans and risk assessments for the Church to open safely and within the restrictions of Covid-19.
Fabric Committee is concerned with the maintenance and improvement of church buildings and fabric, and of the churchyard. During this year, the organ has been a priority. Some funds have been pledged to us by the Gooch Trust, and we have been fundraising although this has been difficult due to Covid-19. The repairs are on track to be completed at the end of February 2021, which means we can use the grant scheme that allows us to claim VAT paid on fabric costs. In 2019, we were able to repair the boiler, but we need to plan for a replacement and it is aimed to consider a replacement for 2022.
World Community aims to link the Minster to the local and wider community.
Hospitality Committee is on hand to cater for our social functions and church events.
Minster Rooms Management Committee ensures the availability of rooms for parish and community use. It has separate finances and would normally attract regular use by both the church and the community. The team provide regular updates to the PCC.
Finance Committee has been focusing on navigating the church funds on an ongoing basis, particularly as Covid-19 has significantly impacted on our income.
Communication Team is a joint team with Whitelackington’s PCC and its aim is to ensure that all communication activities fulfil our vision to be ‘Beacons of Christ’s light’. In the past year, lockdown has forced a review of traditional methods of communication, with greater emphasis placed on the use of social media, including the use of Facebook Live to livestream services.
Children and Family Life Leader Support Team is a small group who give support to the post holder, as that person reaches out into the local community, leads our children’s groups and encourages volunteers working with children within the Minster. This is to ensure that they are not working in isolation and have the encouragement and guidance needed. During 2020 we have had a vacancy and this role will be reviewed in the Autumn of 2021.
3
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
Deanery Synod The Deanery Synod has needed to respond to Covid, and has been considering the Deployment Report, which is looking at future changes. Whilst this was part of the Deanery Synod’s long-term plans, Covid-19 has brought it forward.
## Financial Review
Our budget for 2020 was set in November 2019 before Covid-19 became an issue. It predicted a deficit of almost £35,000 as we knew that the organ renovation would take place in the year. The budgeted deficit did not relate all to the organ; we had been expecting a deficit for general activities as well. Although normal Church life was completely disrupted by the effects of the pandemic, planned giving actually increased and we managed to claim Covid grants towards salaries and general Church running, and the final position was much better than expected due to these unexpected income sources, the generous giving towards Foodbank, a reduction in some Church running costs and legacies received during the year. The final overall position showed a small deficit of almost £1,600. Adding in the increase in the value of investments over the year resulted in an increase in funds of nearly £24,400 although much of this increase is attributable to endowment assets, from which only income is available for use by the PCC. We cannot use the capital. A provision had been made in the 2019 accounts for an expected claim for clergy expenses in 2020, but this did not materialise. This has resulted in a negative expense which can be seen at note 4b to the accounts.
Because of Covid we have been unable to concentrate on fundraising for the organ renovation and, as a result, the final project costs will result in a deficit of £21,777. The decision has been made to cover the bulk of this deficit by way of a drawdown from investments held for this purpose. The remainder of the restricted deficit will be financed by funds given for fabric purposes in previous years.
A cautious budget for 2021 was set in November 2020 to allow for the possibility that Church would not return to normal for some time. The budget predicts a deficit of almost £30,000, although since the budget was set we have been fortunate to receive a legacy of £25,000 which will cover the expected deficit on general funds. As Church returns to normal, we will once again need to focus on ensuring that our general income is sufficient to cover day to day running costs, as we cannot rely on legacies as a continuing source of funds.
## Reserves Policy
It is PCC policy to try to maintain a sufficient reserve of unrestricted liquid funds equivalent to approximately six months of general expenditure, in order to smooth out fluctuations in cash flow and deal with unexpected costs. This reserve has been set at £60,000 and, at the end of 2020, our liquid unrestricted reserves amounted to £88,500. Due to the legacy received in 2021, this position should be held.
Part of the reserves amount includes an investment held with CCLA and the PCC recognises that these funds are only accessible if the investment is sold, and the value of that investment fluctuates over time.
## Safeguarding
The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have the due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). Jim Webb was appointed as Safeguarding Office at the PCC meeting on 20 January 2020. The PCC have agreed to adopt the Diocese Safeguarding policy, follow Safer Recruitment processes and adopted Youth Policies.
4
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
## Administration information
The Minster Church is situated in Court Barton, Ilminster. It is part of the Diocese of Bath & Wells within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006). The full name of the PCC is The Parochial Church Council of the Ecclesiastical Parish of Ilminster and its working name is St Marys Ilminster PCC. The PCC became a registered charity in England and Wales, number 1134398, on 18 February 2010. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During 2020 the following served as PCC members:
## Ex Officio members:
- Incumbent: The Rev Jo Stobart
- Wardens: Rebecca Beggs and Lydia Munday
Elected members:
- Sarah Wright representative on Deanery Synod
- Lydia Munday representative on Deanery Synod
- Jim Webb representative on Deanery Synod
- Lucy Gibbs (until 2021)
- Natalie Wainwright (until 2021)
- Elizabeth Ferris (until 2021)
- Alison Brown (until April 2022)
- Peter MacKay (Vice Chair) (until April 2022)
- Julian Gibbs (until April 2023)
- Liz Coleman (co-opted Treasurer until 31 December 2020. Vacancy from 1 January 2021)
- Patricia Lindley (co-opted Secretary)
The PCC's bankers are NatWest plc, 10 East Street, Ilminster TA19 0AA.
The independent examiner of this report and accounts is Mrs Alison Fielder, c/o Old Bank Building, East Street, Ilminster TA19 0AJ.
Approved by the PCC on 7 April 2021 and signed on its behalf by The Rev Jo Stobart (PCC Chair)
5
## ST MARY'S, ILMINSTER PCC
## Statement of Financial Activities
## For the Year Ended 31 December 2020
|Income and Endowments
Voluntary income
Income from Church activities
Activities for generating funds
Income from investments
Total Income and Endowments
Expenditure
Raising funds
Charitable activities
Other
Total Expenditure
Net Income/(Expenditure)
Unrealised gains on investments
Net Movement in Funds
Reconciliation of Funds:
Total funds brought forward
1st January 2020 (2019)
Total funds carried forward
31st December 2020 (2019)
Transfers between funds|Note
3a
3b
3c
3d
4a
4b
4c
10b
6b|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|
|---|---|---|---|---|---|
||||102,659|56,116|-
158,775
120,629|
||||-
92,324
210|-
67,839
-|-
-
362
-
160,163
111,255
-
210
40|
||||92,534|67,839|-
160,373
111,657|
||||10,125
-|(11,723)
-|-
(1,598)
8,972
-
-
-|
||||10,125
3,607|(11,723)
5,170|-
(1,598)
8,972
17,213
25,990
59,278|
||||13,732
193,263|(6,553)
137,615|17,213
24,392
68,250
253,046
583,924
515,674|
||||£206,995|£131,062|£270,259
£608,316
£583,924|
6
## ST MARY'S, ILMINSTER PCC
## Balance Sheet
## As at 31 December 2020
|Fixed Assets
Tangible fixed assets
Investment assets
Current Assets
Debtors and prepayments
Short-term deposits
Cash at bank and in hand
Current Liabilities
Net Current Assets
Net Assets
Represented by Funds:
Unrestricted
Restricted
Endowment
Creditors falling due within
one year|Note
6a
6b
8
7
9|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|
|---|---|---|---|---|---|
||||174,642|80,051|270,259
524,952
497,644|
||||4,716
11,700
20,900|-
42,315
34,983|-
4,716
6,871
-
54,015
53,810
-
55,883
33,007|
||||37,316
(4,963)|77,298
(26,287)|-
114,614
93,688
-
(31,250)
(7,408)|
||||32,353|51,011|-
83,364
86,280|
||||£206,995|£131,062|£270,259
£608,316
£583,924|
||||206,995
-
-|-
131,062
-|-
206,995
193,263
-
131,062
137,615
270,259
270,259
253,046|
||||£206,995|£131,062|£270,259
£608,316
£583,924|
Approved by the Parochial Church Council on 7 April 2021 and signed on its behalf by:
………………………………………….. ………………………………………….. Rev J Stobart R Beggs
The notes on pages 8 to 14 form part of these Accounts.
7
ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements
## For the Year Ended 31 December 2020
## 1 Accounting Policies
## a) Basis of Preparation
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, together with FRS102 as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)).
The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.
Minor liabilities and consumable stocks under £500 have been ignored.
## b) Funds Structure
Endowment funds are funds, the capital of which must be retained either permanently or at the PCC's discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.
Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific PCC activity intended by the donor.
Unrestricted funds are income funds which are to be spent on the PCC's general purposes.
## c) Income Recognition
Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, an inflow of economic benefit is probable and the amounts due are reliably quantifiable. Dividends are accounted for when declared receivable, interest as and when accrued by the payer. All incoming resources are accounted for gross, ie before any related costs that may have been incurred.
## d) Expenditure Recognition
Grants and donations are accounted for when paid over, or when awarded, as soon as an outflow of economic benefit is probable. The diocesan parish share expected to be paid over is accounted for when due.
All other expenditure is generally recognised when it is incurred and is accounted for gross.
8
ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements
## For the Year Ended 31 December 2020
## 1 Cont'd
## e) Irrecoverable VAT
The PCC is not registered for VAT and so all irrecoverable VAT is included with the expenditure on which it was incurred. The PCC is able to reclaim a grant under the Listed Places of Worship Scheme representing VAT incurred on specific expenditure on fabric of the building, and if the claims are successful the refunds are set against the expenditure category to which the original expenditure was allocated.
## f) Tangible Fixed Assets and Depreciation
The freehold land and buildings are entirely the Minster Rooms and are included at cost. An assessment has been carried out of whether there is any indication that the freehold land and buildings should be written down at the reporting date, and it has been decided that there there was no indication and so no depreciation has been provided for. A revaluation policy has not been adopted.
Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011.
Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected at any reasonable time.
The equipment at 1st January 2020 comprised of furnishings in the Minster Rooms, computer, printing equipment, fire extinguishers, Sunday School equipment and an electric piano. It has been included at cost and depreciated at 25% per annum on a reducing balance basis.
## g) Fixed Asset Investments
Investments are initially recognised at their transaction value and subsequently measured at their market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
## h) Realised and Unrealised Gains and Losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value, if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end, and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
## 2 Related Party Transactions
The trustees all give freely of their time and expertise without any form of remuneration or other benefit or cash in kind.
9
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
|For the|Year Ended 31 December 2020|Year Ended 31 December 2020|Year Ended 31 December 2020|Year Ended 31 December 2020|
|---|---|---|---|---|
|3
Analysis of Income and Endowments
3a Voluntary Income
Planned giving
Open plate service collections
Special collections
Donations (unrestricted)
Donations (restricted)
Grants
Legacies
3b Income from Church Activities
Fees for weddings and funerals
Meditation and wedding courses
Repayments for services
3c Activities for Generating Funds
Magazine advertising, Narthex Box etc.
Fund-raising
3d Income from Investments
Dividends
Interest
Total Income and Endowments
Minster Rooms lettings and refreshments
Income tax recoverable on Gift-Aided
donations|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
50,668
-
-
50,668
47,879
14,759
439
-
15,198
13,353
2,854
-
-
2,854
7,766
-
1,533
-
1,533
5,279
6,872
-
-
6,872
5,264
-
37,777
-
37,777
8,037
11,731
550
-
12,281
-
4,000
10,000
-
14,000
5,000
TOTAL FUNDS||||
|||90,884|50,299|-
141,183
92,578|
|||-
1,604
-
1,646|973
-
-
-|-
973
6,538
-
1,604
2,617
-
-
75
-
1,646
2,513|
|||3,250|973|-
4,223
11,743|
|||136
-|-
1,423|-
136
605
-
1,423
4,086|
|||136|1,423|-
1,559
4,691|
|||8,080
309|3,367
54|-
11,447
11,094
-
363
523|
|||8,389|3,421|-
11,810
11,617|
||||||
|||£102,659|£56,116|£-
£158,775
£120,629|
10
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
|4
Analysis of Expenditure
4a
Raising Funds
Fund-raising expenses
4b
Church Activities
Diocesan parish share
Clergy expenses
Church running expenses
Printing and stationery
Church maintenance
Minster Rooms running costs
Salaries (note 5)
Depreciation and loss on disposal
Distribution of special collections:
Missionary societies and charitable giving
Home missions and other Church societies
Other charitable societies
Donations from Church funds
Donations from fund-raising activities
4c
Other
Training costs
Total Expenditure|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|
|---|---|---|---|---|---|---|
|||-|-|-|-|362|
|||66,486
(234)
9,574
336
-
-
13,932
230
-
-
-
2,000
-|-
-
4,898
-
57,554
3,854
-
-
349
-
1,184
-
-|-
66,486
69,897
-
(234)
43
-
14,472
12,123
-
336
663
-
57,554
1,974
-
3,854
4,708
-
13,932
14,262
-
230
306
-
349
2,251
-
-
-
-
1,184
3,028
-
2,000
2,000
-
-
-|||
|||92,324|67,839|-
160,163
111,255|||
|||210|-|-
210
40|||
|||210|-|-
210
40|||
||||||||
|||£92,534|£67,839|£-
£160,373
£111,657|||
11
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
|ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2020||
|---|---|
|Staff costs
Wages and salaries
Pension contributions|2020
2019
13,753
14,205
179
57
Total Funds|
||13,932
14,262|
## 5 Staff costs
The PCC employed a Benefice Administrator for the whole year. During the Covid-19 pandemic the PCC made the difficult decision to furlough the Administrator as required, and made claims to the government under the Coronavirus Job Retention Scheme. These claims are included in grants and are not netted off against wages and salaries. Holiday pay in respect of holiday accrued but not taken at the year end has not been recorded as it is an insignificant amount. Although the PCC is liable for employer's National Insurance on salaries, this expense was subsidised by the HMRC employer's allowance and so as a result there was no cost to the PCC. The PCC offers a workplace pension in accordance with the rules for autoenrolment.
The average number of employees during the year was 1 (2019: 1).
## 6 Fixed Assets
|6|Fixed Assets|||||
|---|---|---|---|---|---|
|6a|Tangible Fixed Assets
Gross cost at 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation at 1 January 2020
Charge for year at 25%
On disposals
At 31 December 2020
Net book value at 31 December 2020
Net book value at 31 December 2019||Land &
Buildings
117,789
-
-|Equipment
20,455
-
-|Total
138,244
-
-|
||||117,789|20,455|138,244|
||||-
-
-|19,536
230
-|19,536
230
-|
||||-|19,766|19,766|
||||£117,789|£689|£118,478|
||||£117,789|£919|£118,708|
## 6b Investments
These consist of shares in the CCLA CBF Church of England Investment Fund and the COIF Charities Investment Fund, split as shown between the following funds:-
## CBF Church of England Investment Fund:
St. Marys PCC - 2746.86 units; Emms Bequest (Restoration Fund) - 1716.00 units; LM Taylor Bequest - 3915.13 units; Dr K Hall Bequest - 198.00 units; Paul Bequest - 8484.00 units
## COIF Charities Investment Fund:
Reverend Stoodley - 3207.34 units
12
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
## 6b Continued
|7
8|Analysis of Investments Held
Valuation at
01/01/20
L.M. Taylor Bequest 601008001S Restric.
74,881
Emms Bequest
601008002S Endow.
32,820
St Marys Fund
601008004S Unrestric.
51,009
Paull Bequest
101001546S Endow.
162,265
Stoodley Bequest
266070002T Endow.
54,174
Hall Bequest
101001281S Endow.
3,787
£378,936
Unrestricted Funds
51,009
Restricted Funds
74,881
Endowment Funds
253,046
£378,936
Short-Term Deposits Held
Held with CCLA in the CBF Church of England Deposit Fund:
L M Taylor Bequest
Restricted
St Marys Fund:
Restricted
Unrestricted
Debtors and Prepayments
Income tax recoverable on gift aided donations
Fees for weddings and funerals
Photocopier rental prepayment
Minster Rooms income received in 2021
Repayment for services and share of expenses
Bike ride fund raising
Electricity direct debits on account|Valuation at
01/01/20
74,881
32,820
51,009
162,265
54,174
3,787|Valuation at
01/01/20
74,881
32,820
51,009
162,265
54,174
3,787|Transfer of
funds in year
(note 10b)
-
-
-
-
-
-|Transfer of
funds in year
(note 10b)
-
-
-
-
-
-|
|Dividends
reinvested
-
-
1,548
-
-
-|Unrealised
Gains on
Investments|Valuation at
31/12/20
80,051
35,086
56,164
173,470
57,654
4,049|Valuation at
31/12/20
80,051
35,086
56,164
173,470
57,654
4,049|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||5,170
2,266
3,607
11,205
3,480
262|||
||||£378,936||£-||£1,548|£25,990||£406,474|
||||51,009
74,881
253,046||-
-
-|
|1,548
-
-|3,607
5,170
17,213||56,164
80,051
270,259|
||||£378,936||£-||£1,548|£25,990||£406,474|
||||||As at
01/01/20
5,457
48,167
186||As at
31/12/20
5,457
36,858
11,700|||2019
2,830
1,537
178
981
334
143
868|
||||||£53,810||£54,015||||
||||||||2020
2,976
-
178
-
845
-
717||||
||||||||£4,716|||£6,871|
13
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
## 9 Liabilities (amounts falling due within one year)
|9|Liabilities (amounts falling due within one year)|||
|---|---|---|---|
|10
10a|Church maintenance
Donations
Fees and collections to be paid out
Clergy expenses
Church running costs
Minster Rooms running costs
Church administration costs
Organist fees
Wedding fees received in advance
Funds
Analysis of Restricted Funds
The following restricted funds are included within net current assets:
Bells
Children and Families Life Leader
Community Outreach
Foodbank
Homework Club
Ilminster Parish Emergency Fund
LM Taylor Bequest deposit
Maintenance of the fabric of the Church
Meditation
Memory Café
Minster Rooms upkeep and maintenance
Music and audio-visual
Organ renovation (see note 10b)
Small project donations
Simpson
Youth|2020
24,964
2,000
2,221
-
641
144
25
725
530
£31,250
2020
1,717
12,047
683
7,802
1,499
300
5,457
20,013
1,881
1,347
12,654
305
(21,777)
5,400
313
1,370
£51,011|2019
4,661
-
862
199
611
488
77
510
-|
||||£7,408|
||||2019
1,537
11,367
738
-
1,499
100
5,457
10,708
1,878
1,727
15,491
309
5,340
5,000
313
1,270|
||||£62,734|
## 10b Analysis of Transfers Between Funds
No transfers took place during the year but, due to the Covid-19 pandemic, fund raising for the organ renovation project was impossible and so the decision has been taken to draw £20,000 from investments at CCLA to help cover the costs. This withdrawal will take place in 2021.
## 11 Independent Examiner's Remuneration
No fee was payable to the independent examiner for their work examining these accounts.
14
## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ILMINSTER
Charity Number 1134398
Working name:
## ST MARY'S, ILMINSTER PCC
## REPORT AND ACCOUNTS
for the year ended
31 December 2020
## ST MARY'S, ILMINSTER PCC
## REPORT AND ACCOUNTS
for the year ended 31 December 2020
||Contents||
|---|---|---|
|||Pages|
|Annual Report||1 - 5|
|Statement of Financial Activities||6|
|Balance Sheet||7|
|Notes to the Accounts||8 - 14|
|Independent Examiner's Report||15|
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
## Aims
The Rev Jo Stobart is the Vicar of St Mary's Church, Ilminster (The Minster). The PCC work to promote the worship of God and spread the good news of God’s love. The PCC has responsibility for the upkeep of the Minster and of the Minster Rooms. The aim of the church is shared with Whitelackington, to be ‘Beacons of Christ’s light - sharing our love for God and our neighbours; Worshipping God – Serving others – Striving for fairness’.
## Objectives
The PCC will achieve our vision by:
- worshipping God and growing in faith
- serving our local communities
- striving for a fairer and kinder world
The PCC is committed to working with the congregation and community to achieve and develop these aims within the restrictions of lockdown and despite the disruption caused by Covid-19.
The PCC has also considered the Charity Commission’s guidance on public benefit when setting its objectives and, in particular, the supplementary guidance on charities for the advancement of religion.
## The PCC
The PCC met 7 times during the year, including an away day in October, which is more than usual due to the disruption caused by the Covid-19 pandemic, and the Standing Committee met more frequently than usual to consider the implications of lockdown and assess the risks as we re-opened between lockdowns.
The appointment of PCC members is set out in the Church Representation Rules. The PCC consists of the incumbent, churchwardens, and members of the congregation who are on the electoral roll of the church. All members of the congregation are encouraged to register on the electoral roll and stand for PCC. PCC members also serve on committees and groups alongside other church members.
These committees and groups meet separately from the PCC, where possible, and regularly report back to the PCC.
The PCC had its first online meeting in June, although an Extended Standing Committee had met online several times prior this, to consider the impact of Covid-19. In June, it was confirmed that the Benefice Administrator had agreed to be furloughed. The Government Scheme was altered with short notice, which meant that this started earlier than originally expected. The PCC considered ways in which The Minster Church could re-open including no singing in the services, a booking scheme, social distancing, the time frames between using the seats vs cleaning, and online services. Recruitment for the CFLL role was paused until October 2020 due to lockdown and the closure of the schools.
We met in September via Zoom and the organ update advised that the repairs had slowed down due to lockdown. The Data Protection Report gave the PCC disappointing news that there had been 5 breaches, including 2 which were reported to the ICO, and separately a complaint regarding personal data. The PCC was reminded that we are not permitted to hold medical information and any information of this nature can only be shared with written agreement. Personal information such as email or address cannot be shared either. The PCC received a 6 monthly Data Protection update for PCC members and leaders.
The Foodbank and Foodshare used the Minster Rooms as a temporary base during lockdown. They have noticed an increase in use and support of the Foodbank, requiring more storage space. Space has been made in Minster Rooms.
1
ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
The PCC reviewed the report Where we are now? A diocesan snapshot. This considered 4 questions.
1. In your experience, what have churches done which has been good in the pandemic, so far? Our answers included: Online Services, Pewsheets with prayer, Foodbank into the community, Zoom coffee.
2. What opportunities do you think the church has missed during the pandemic? We said: At the start, the CofE taking a lead, link to voluntary groups and Covid 19, Easter due to the timing of lockdown, workloads and singing.
3. What has been lost from your own church experience that you would like back, and what has gone that you don’t particularly miss? We missed: All Age Worship, Social Gatherings, Services but not the set time, Battle of Britain and cadets coming to church, Music community and fellowship, Children in church, Face to face PCC meetings, Fellowship, Rhythm of life and known services. Not Missed: Evening services, Formal services, Face to face PCC meetings.
4. What do you think the future might look like for the church, after Coronavirus? What are the opportunities and the challenges that we will have? We thought: Creativity, More flexible at local level but query at higher levels, Less formal but appreciate this involves more work/effort to create and workloads already high, A good time to look at church, what we are and could be, The online following. Covid has pushed our technology forward, which is a good thing, but we don’t want ‘online’ to be a reason to close smaller churches, the rhythm of seasons and church year is important, we value of our Vicar who has worked very hard, Balance needed. Maintain new initiatives while not losing what we have. It will be difficult to re-engage young people after Covid.
The PCC had an ‘Away Day’ in the Minster Rooms/via Zoom in October, which started with a Bible Study on the Parable of the Wedding Banquet. The PCC’s 2020 Vision is 6 years old and with the website review, the PCC considered whether our strapline is right for us now. As part of the process, we considered ‘What it means to be an open and welcoming church’, and ‘Who are we welcoming and who is missing?’. We looked at images to consider what our logo could mean. This discussion led to us considering ideas for our strapline.
In November the meeting started with a DPA Refresher Training session. The Finance Report was much better than expected. We budgeted for a deficit of £13,700 but have a surplus of £20,700. However, this was due to legacies and grants received and because we hadn’t received the invoices for the organ repairs. The PCC considered and then agreed a permanent move of the Foodbank to the Minster Rooms. To do this, PCC reviewed the Ilminster Foodbank Additional Health & Safety Policy, Ilminster Foodbank Procedures, COVID-19 Risk Assessment – Foodbank, and General Risk Assessment – Foodbank. Jo gave the PCC an update on the Deployment Report, which is looking to the future. Locally, we may have fewer clergy with larger areas for them to cover and more lay people assisting. COVID-19 has escalated these plans. It was also noted that online services are reaching more in the community. This was the first meeting after the delayed 2020 APCM and Peter Mackay was appointed as Vice-chair of the PCC.
In February 2021, the PCC considered the re-opening of church for in-person services and agreed to start slowly with two services; Wednesday morning and Sunday at 8am to reach those not online first. Live streaming of services has been important during the last year, and this is currently done with a mobile phone and tripod. Live streaming has meant that we are reaching those who have moved away or cannot attend church. We have had quotes for a live streaming service of around £12k but we could do ourselves for around £3k or £4k. There will be a camera at the back of church (high up) and it will be controlled with a joystick. It can be programmed to pre-set views – the Nave Altar, the Pulpit, the Font etc. The congregation will be able to sit in safe zones. Those presenting within the service will need to give permission. A list of policies and an approach to create/maintain them was circulated.
Most are employer responsibilities and include safeguarding recruitment for volunteers. We re-advertised the CFLL role in December 2020, as we were unable to recruit in October 2020, with a closing date in January 2021 but didn’t receive any interest in the role. As there is no face-to-face children’s work it was agreed to review this in Autumn 2021.
2
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
We met via Zoom on 7 April to approve the Report & Accounts. During the year we received a Covid grant, legacy and the Foodbank also received money. Our unrestricted funds show a surplus of £10,125 whilst restricted funds show a deficit of £11,723. Planned giving was expected to drop due to Covid-19; however, there was a switch to Standing Orders which resulted in a small increase in giving.
Jen presented a suggested approach & timetable to complete the PCC policies, which was agreed. The timetable reflects the pattern of the PCC meeting with the aim of reviewing & maintaining existing policies and creating new PCC policies.
The PCC amended its previous resolution on SIR reporting to delegate the responsibility of reporting Safeguarding SIRs to the Diocesan Safeguarding team and changed all references in this resolution from named individuals to the title of the relevant office holder.
The APCM for 2020 to 2021 will be held on 23 May 2021. As this report needs to be displayed for 2 weeks before the APCM, it means that the final PCC meeting on 10 May 2021 will be included in next year’s Annual Report.
Standing Committee This is the only committee required by law. It has delegated power to transact the business of the PCC between its meetings and prepares the agenda for the PCC. This year the Standing Committee has considered plans and risk assessments for the Church to open safely and within the restrictions of Covid-19.
Fabric Committee is concerned with the maintenance and improvement of church buildings and fabric, and of the churchyard. During this year, the organ has been a priority. Some funds have been pledged to us by the Gooch Trust, and we have been fundraising although this has been difficult due to Covid-19. The repairs are on track to be completed at the end of February 2021, which means we can use the grant scheme that allows us to claim VAT paid on fabric costs. In 2019, we were able to repair the boiler, but we need to plan for a replacement and it is aimed to consider a replacement for 2022.
World Community aims to link the Minster to the local and wider community.
Hospitality Committee is on hand to cater for our social functions and church events.
Minster Rooms Management Committee ensures the availability of rooms for parish and community use. It has separate finances and would normally attract regular use by both the church and the community. The team provide regular updates to the PCC.
Finance Committee has been focusing on navigating the church funds on an ongoing basis, particularly as Covid-19 has significantly impacted on our income.
Communication Team is a joint team with Whitelackington’s PCC and its aim is to ensure that all communication activities fulfil our vision to be ‘Beacons of Christ’s light’. In the past year, lockdown has forced a review of traditional methods of communication, with greater emphasis placed on the use of social media, including the use of Facebook Live to livestream services.
Children and Family Life Leader Support Team is a small group who give support to the post holder, as that person reaches out into the local community, leads our children’s groups and encourages volunteers working with children within the Minster. This is to ensure that they are not working in isolation and have the encouragement and guidance needed. During 2020 we have had a vacancy and this role will be reviewed in the Autumn of 2021.
3
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
Deanery Synod The Deanery Synod has needed to respond to Covid, and has been considering the Deployment Report, which is looking at future changes. Whilst this was part of the Deanery Synod’s long-term plans, Covid-19 has brought it forward.
## Financial Review
Our budget for 2020 was set in November 2019 before Covid-19 became an issue. It predicted a deficit of almost £35,000 as we knew that the organ renovation would take place in the year. The budgeted deficit did not relate all to the organ; we had been expecting a deficit for general activities as well. Although normal Church life was completely disrupted by the effects of the pandemic, planned giving actually increased and we managed to claim Covid grants towards salaries and general Church running, and the final position was much better than expected due to these unexpected income sources, the generous giving towards Foodbank, a reduction in some Church running costs and legacies received during the year. The final overall position showed a small deficit of almost £1,600. Adding in the increase in the value of investments over the year resulted in an increase in funds of nearly £24,400 although much of this increase is attributable to endowment assets, from which only income is available for use by the PCC. We cannot use the capital. A provision had been made in the 2019 accounts for an expected claim for clergy expenses in 2020, but this did not materialise. This has resulted in a negative expense which can be seen at note 4b to the accounts.
Because of Covid we have been unable to concentrate on fundraising for the organ renovation and, as a result, the final project costs will result in a deficit of £21,777. The decision has been made to cover the bulk of this deficit by way of a drawdown from investments held for this purpose. The remainder of the restricted deficit will be financed by funds given for fabric purposes in previous years.
A cautious budget for 2021 was set in November 2020 to allow for the possibility that Church would not return to normal for some time. The budget predicts a deficit of almost £30,000, although since the budget was set we have been fortunate to receive a legacy of £25,000 which will cover the expected deficit on general funds. As Church returns to normal, we will once again need to focus on ensuring that our general income is sufficient to cover day to day running costs, as we cannot rely on legacies as a continuing source of funds.
## Reserves Policy
It is PCC policy to try to maintain a sufficient reserve of unrestricted liquid funds equivalent to approximately six months of general expenditure, in order to smooth out fluctuations in cash flow and deal with unexpected costs. This reserve has been set at £60,000 and, at the end of 2020, our liquid unrestricted reserves amounted to £88,500. Due to the legacy received in 2021, this position should be held.
Part of the reserves amount includes an investment held with CCLA and the PCC recognises that these funds are only accessible if the investment is sold, and the value of that investment fluctuates over time.
## Safeguarding
The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have the due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). Jim Webb was appointed as Safeguarding Office at the PCC meeting on 20 January 2020. The PCC have agreed to adopt the Diocese Safeguarding policy, follow Safer Recruitment processes and adopted Youth Policies.
4
## ST MARY'S, ILMINSTER PCC Annual Report for 2020/21
## Administration information
The Minster Church is situated in Court Barton, Ilminster. It is part of the Diocese of Bath & Wells within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006). The full name of the PCC is The Parochial Church Council of the Ecclesiastical Parish of Ilminster and its working name is St Marys Ilminster PCC. The PCC became a registered charity in England and Wales, number 1134398, on 18 February 2010. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During 2020 the following served as PCC members:
## Ex Officio members:
- Incumbent: The Rev Jo Stobart
- Wardens: Rebecca Beggs and Lydia Munday
Elected members:
- Sarah Wright representative on Deanery Synod
- Lydia Munday representative on Deanery Synod
- Jim Webb representative on Deanery Synod
- Lucy Gibbs (until 2021)
- Natalie Wainwright (until 2021)
- Elizabeth Ferris (until 2021)
- Alison Brown (until April 2022)
- Peter MacKay (Vice Chair) (until April 2022)
- Julian Gibbs (until April 2023)
- Liz Coleman (co-opted Treasurer until 31 December 2020. Vacancy from 1 January 2021)
- Patricia Lindley (co-opted Secretary)
The PCC's bankers are NatWest plc, 10 East Street, Ilminster TA19 0AA.
The independent examiner of this report and accounts is Mrs Alison Fielder, c/o Old Bank Building, East Street, Ilminster TA19 0AJ.
Approved by the PCC on 7 April 2021 and signed on its behalf by The Rev Jo Stobart (PCC Chair)
5
## ST MARY'S, ILMINSTER PCC
## Statement of Financial Activities
## For the Year Ended 31 December 2020
|Income and Endowments
Voluntary income
Income from Church activities
Activities for generating funds
Income from investments
Total Income and Endowments
Expenditure
Raising funds
Charitable activities
Other
Total Expenditure
Net Income/(Expenditure)
Unrealised gains on investments
Net Movement in Funds
Reconciliation of Funds:
Total funds brought forward
1st January 2020 (2019)
Total funds carried forward
31st December 2020 (2019)
Transfers between funds|Note
3a
3b
3c
3d
4a
4b
4c
10b
6b|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
90,884
50,299
-
141,183
92,578
3,250
973
-
4,223
11,743
136
1,423
-
1,559
4,691
8,389
3,421
-
11,810
11,617
TOTAL FUNDS|
|---|---|---|---|---|---|
||||102,659|56,116|-
158,775
120,629|
||||-
92,324
210|-
67,839
-|-
-
362
-
160,163
111,255
-
210
40|
||||92,534|67,839|-
160,373
111,657|
||||10,125
-|(11,723)
-|-
(1,598)
8,972
-
-
-|
||||10,125
3,607|(11,723)
5,170|-
(1,598)
8,972
17,213
25,990
59,278|
||||13,732
193,263|(6,553)
137,615|17,213
24,392
68,250
253,046
583,924
515,674|
||||£206,995|£131,062|£270,259
£608,316
£583,924|
6
## ST MARY'S, ILMINSTER PCC
## Balance Sheet
## As at 31 December 2020
|Fixed Assets
Tangible fixed assets
Investment assets
Current Assets
Debtors and prepayments
Short-term deposits
Cash at bank and in hand
Current Liabilities
Net Current Assets
Net Assets
Represented by Funds:
Unrestricted
Restricted
Endowment
Creditors falling due within
one year|Note
6a
6b
8
7
9|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
118,478
-
-
118,478
118,708
56,164
80,051
270,259
406,474
378,936
TOTAL FUNDS|
|---|---|---|---|---|---|
||||174,642|80,051|270,259
524,952
497,644|
||||4,716
11,700
20,900|-
42,315
34,983|-
4,716
6,871
-
54,015
53,810
-
55,883
33,007|
||||37,316
(4,963)|77,298
(26,287)|-
114,614
93,688
-
(31,250)
(7,408)|
||||32,353|51,011|-
83,364
86,280|
||||£206,995|£131,062|£270,259
£608,316
£583,924|
||||206,995
-
-|-
131,062
-|-
206,995
193,263
-
131,062
137,615
270,259
270,259
253,046|
||||£206,995|£131,062|£270,259
£608,316
£583,924|
Approved by the Parochial Church Council on 7 April 2021 and signed on its behalf by:
………………………………………….. ………………………………………….. Rev J Stobart R Beggs
The notes on pages 8 to 14 form part of these Accounts.
7
ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements
## For the Year Ended 31 December 2020
## 1 Accounting Policies
## a) Basis of Preparation
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, together with FRS102 as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)).
The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.
Minor liabilities and consumable stocks under £500 have been ignored.
## b) Funds Structure
Endowment funds are funds, the capital of which must be retained either permanently or at the PCC's discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.
Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific PCC activity intended by the donor.
Unrestricted funds are income funds which are to be spent on the PCC's general purposes.
## c) Income Recognition
Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, an inflow of economic benefit is probable and the amounts due are reliably quantifiable. Dividends are accounted for when declared receivable, interest as and when accrued by the payer. All incoming resources are accounted for gross, ie before any related costs that may have been incurred.
## d) Expenditure Recognition
Grants and donations are accounted for when paid over, or when awarded, as soon as an outflow of economic benefit is probable. The diocesan parish share expected to be paid over is accounted for when due.
All other expenditure is generally recognised when it is incurred and is accounted for gross.
8
ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements
## For the Year Ended 31 December 2020
## 1 Cont'd
## e) Irrecoverable VAT
The PCC is not registered for VAT and so all irrecoverable VAT is included with the expenditure on which it was incurred. The PCC is able to reclaim a grant under the Listed Places of Worship Scheme representing VAT incurred on specific expenditure on fabric of the building, and if the claims are successful the refunds are set against the expenditure category to which the original expenditure was allocated.
## f) Tangible Fixed Assets and Depreciation
The freehold land and buildings are entirely the Minster Rooms and are included at cost. An assessment has been carried out of whether there is any indication that the freehold land and buildings should be written down at the reporting date, and it has been decided that there there was no indication and so no depreciation has been provided for. A revaluation policy has not been adopted.
Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011.
Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected at any reasonable time.
The equipment at 1st January 2020 comprised of furnishings in the Minster Rooms, computer, printing equipment, fire extinguishers, Sunday School equipment and an electric piano. It has been included at cost and depreciated at 25% per annum on a reducing balance basis.
## g) Fixed Asset Investments
Investments are initially recognised at their transaction value and subsequently measured at their market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.
## h) Realised and Unrealised Gains and Losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value, if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end, and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
## 2 Related Party Transactions
The trustees all give freely of their time and expertise without any form of remuneration or other benefit or cash in kind.
9
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
|For the|Year Ended 31 December 2020|Year Ended 31 December 2020|Year Ended 31 December 2020|Year Ended 31 December 2020|
|---|---|---|---|---|
|3
Analysis of Income and Endowments
3a Voluntary Income
Planned giving
Open plate service collections
Special collections
Donations (unrestricted)
Donations (restricted)
Grants
Legacies
3b Income from Church Activities
Fees for weddings and funerals
Meditation and wedding courses
Repayments for services
3c Activities for Generating Funds
Magazine advertising, Narthex Box etc.
Fund-raising
3d Income from Investments
Dividends
Interest
Total Income and Endowments
Minster Rooms lettings and refreshments
Income tax recoverable on Gift-Aided
donations|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
50,668
-
-
50,668
47,879
14,759
439
-
15,198
13,353
2,854
-
-
2,854
7,766
-
1,533
-
1,533
5,279
6,872
-
-
6,872
5,264
-
37,777
-
37,777
8,037
11,731
550
-
12,281
-
4,000
10,000
-
14,000
5,000
TOTAL FUNDS||||
|||90,884|50,299|-
141,183
92,578|
|||-
1,604
-
1,646|973
-
-
-|-
973
6,538
-
1,604
2,617
-
-
75
-
1,646
2,513|
|||3,250|973|-
4,223
11,743|
|||136
-|-
1,423|-
136
605
-
1,423
4,086|
|||136|1,423|-
1,559
4,691|
|||8,080
309|3,367
54|-
11,447
11,094
-
363
523|
|||8,389|3,421|-
11,810
11,617|
||||||
|||£102,659|£56,116|£-
£158,775
£120,629|
10
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
|4
Analysis of Expenditure
4a
Raising Funds
Fund-raising expenses
4b
Church Activities
Diocesan parish share
Clergy expenses
Church running expenses
Printing and stationery
Church maintenance
Minster Rooms running costs
Salaries (note 5)
Depreciation and loss on disposal
Distribution of special collections:
Missionary societies and charitable giving
Home missions and other Church societies
Other charitable societies
Donations from Church funds
Donations from fund-raising activities
4c
Other
Training costs
Total Expenditure|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
2020
2019
-
-
-
-
362
TOTAL FUNDS|
|---|---|---|---|---|---|---|
|||-|-|-|-|362|
|||66,486
(234)
9,574
336
-
-
13,932
230
-
-
-
2,000
-|-
-
4,898
-
57,554
3,854
-
-
349
-
1,184
-
-|-
66,486
69,897
-
(234)
43
-
14,472
12,123
-
336
663
-
57,554
1,974
-
3,854
4,708
-
13,932
14,262
-
230
306
-
349
2,251
-
-
-
-
1,184
3,028
-
2,000
2,000
-
-
-|||
|||92,324|67,839|-
160,163
111,255|||
|||210|-|-
210
40|||
|||210|-|-
210
40|||
||||||||
|||£92,534|£67,839|£-
£160,373
£111,657|||
11
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
|ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2020||
|---|---|
|Staff costs
Wages and salaries
Pension contributions|2020
2019
13,753
14,205
179
57
Total Funds|
||13,932
14,262|
## 5 Staff costs
The PCC employed a Benefice Administrator for the whole year. During the Covid-19 pandemic the PCC made the difficult decision to furlough the Administrator as required, and made claims to the government under the Coronavirus Job Retention Scheme. These claims are included in grants and are not netted off against wages and salaries. Holiday pay in respect of holiday accrued but not taken at the year end has not been recorded as it is an insignificant amount. Although the PCC is liable for employer's National Insurance on salaries, this expense was subsidised by the HMRC employer's allowance and so as a result there was no cost to the PCC. The PCC offers a workplace pension in accordance with the rules for autoenrolment.
The average number of employees during the year was 1 (2019: 1).
## 6 Fixed Assets
|6|Fixed Assets|||||
|---|---|---|---|---|---|
|6a|Tangible Fixed Assets
Gross cost at 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation at 1 January 2020
Charge for year at 25%
On disposals
At 31 December 2020
Net book value at 31 December 2020
Net book value at 31 December 2019||Land &
Buildings
117,789
-
-|Equipment
20,455
-
-|Total
138,244
-
-|
||||117,789|20,455|138,244|
||||-
-
-|19,536
230
-|19,536
230
-|
||||-|19,766|19,766|
||||£117,789|£689|£118,478|
||||£117,789|£919|£118,708|
## 6b Investments
These consist of shares in the CCLA CBF Church of England Investment Fund and the COIF Charities Investment Fund, split as shown between the following funds:-
## CBF Church of England Investment Fund:
St. Marys PCC - 2746.86 units; Emms Bequest (Restoration Fund) - 1716.00 units; LM Taylor Bequest - 3915.13 units; Dr K Hall Bequest - 198.00 units; Paul Bequest - 8484.00 units
## COIF Charities Investment Fund:
Reverend Stoodley - 3207.34 units
12
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
## 6b Continued
|7
8|Analysis of Investments Held
Valuation at
01/01/20
L.M. Taylor Bequest 601008001S Restric.
74,881
Emms Bequest
601008002S Endow.
32,820
St Marys Fund
601008004S Unrestric.
51,009
Paull Bequest
101001546S Endow.
162,265
Stoodley Bequest
266070002T Endow.
54,174
Hall Bequest
101001281S Endow.
3,787
£378,936
Unrestricted Funds
51,009
Restricted Funds
74,881
Endowment Funds
253,046
£378,936
Short-Term Deposits Held
Held with CCLA in the CBF Church of England Deposit Fund:
L M Taylor Bequest
Restricted
St Marys Fund:
Restricted
Unrestricted
Debtors and Prepayments
Income tax recoverable on gift aided donations
Fees for weddings and funerals
Photocopier rental prepayment
Minster Rooms income received in 2021
Repayment for services and share of expenses
Bike ride fund raising
Electricity direct debits on account|Valuation at
01/01/20
74,881
32,820
51,009
162,265
54,174
3,787|Valuation at
01/01/20
74,881
32,820
51,009
162,265
54,174
3,787|Transfer of
funds in year
(note 10b)
-
-
-
-
-
-|Transfer of
funds in year
(note 10b)
-
-
-
-
-
-|
|Dividends
reinvested
-
-
1,548
-
-
-|Unrealised
Gains on
Investments|Valuation at
31/12/20
80,051
35,086
56,164
173,470
57,654
4,049|Valuation at
31/12/20
80,051
35,086
56,164
173,470
57,654
4,049|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||5,170
2,266
3,607
11,205
3,480
262|||
||||£378,936||£-||£1,548|£25,990||£406,474|
||||51,009
74,881
253,046||-
-
-|
|1,548
-
-|3,607
5,170
17,213||56,164
80,051
270,259|
||||£378,936||£-||£1,548|£25,990||£406,474|
||||||As at
01/01/20
5,457
48,167
186||As at
31/12/20
5,457
36,858
11,700|||2019
2,830
1,537
178
981
334
143
868|
||||||£53,810||£54,015||||
||||||||2020
2,976
-
178
-
845
-
717||||
||||||||£4,716|||£6,871|
13
## ST MARY'S, ILMINSTER PCC
## Notes to the Financial Statements (Continued)
## For the Year Ended 31 December 2020
## 9 Liabilities (amounts falling due within one year)
|9|Liabilities (amounts falling due within one year)|||
|---|---|---|---|
|10
10a|Church maintenance
Donations
Fees and collections to be paid out
Clergy expenses
Church running costs
Minster Rooms running costs
Church administration costs
Organist fees
Wedding fees received in advance
Funds
Analysis of Restricted Funds
The following restricted funds are included within net current assets:
Bells
Children and Families Life Leader
Community Outreach
Foodbank
Homework Club
Ilminster Parish Emergency Fund
LM Taylor Bequest deposit
Maintenance of the fabric of the Church
Meditation
Memory Café
Minster Rooms upkeep and maintenance
Music and audio-visual
Organ renovation (see note 10b)
Small project donations
Simpson
Youth|2020
24,964
2,000
2,221
-
641
144
25
725
530
£31,250
2020
1,717
12,047
683
7,802
1,499
300
5,457
20,013
1,881
1,347
12,654
305
(21,777)
5,400
313
1,370
£51,011|2019
4,661
-
862
199
611
488
77
510
-|
||||£7,408|
||||2019
1,537
11,367
738
-
1,499
100
5,457
10,708
1,878
1,727
15,491
309
5,340
5,000
313
1,270|
||||£62,734|
## 10b Analysis of Transfers Between Funds
No transfers took place during the year but, due to the Covid-19 pandemic, fund raising for the organ renovation project was impossible and so the decision has been taken to draw £20,000 from investments at CCLA to help cover the costs. This withdrawal will take place in 2021.
## 11 Independent Examiner's Remuneration
No fee was payable to the independent examiner for their work examining these accounts.
14
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