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2021-12-31-accounts

Parish of St Mary with St Peter, Bury St Edmunds

CHURCH OF ENGLAND DIOCESE OF ST EDMUNDSBURY AND IPSWICH (THINGOE DEANERY)

PARISH OF ST MARY WITH ST PETER, BURY ST EDMUNDS

A NNUAL R EPORT AND F INANCIAL S TATEMENTS

OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2021

The Parochial Church Council of the Ecclesiastical Parish of St Mary with St Peter, Bury St Edmunds is a registered charity, number 1134666.

Annual Report for the year ending 31 December 2021

1. REFERENCE AND ADMINISTRATIVE DETAILS 3
INDEPENDENT EXAMINER 3
2. STRUCTURE, GOVERNANCE AND MANAGEMENT 3
PCC MEMBERSHIP 4
COMMITTEES 5
3. CHARITABLE AIMS AND PURPOSES 6
PARISH STATISTICS 6
4. CHARITABLE OBJECTIVES 7
5. ACHIEVEMENTS AND PERFORMANCE 9
WORSHIP MINISTRIES 9
ELECTORAL ROLL AND MEMBERSHIP 10
RAISING VOLUNTARY INCOME THROUGH GIVING 10
PARISH SHARE 11
OTHER ACTIVITIES 11
OPERATING BUILDINGS 11
6. STAFFING AND EMPLOYMENT 12
7. FINANCIAL REVIEW 13
8. PLANS FOR THE FUTURE 16

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Annual Report for the year ending 31 December 2021

1. REFERENCE AND ADMINISTRATIVE DETAILS

St Mary with St Peter Parochial Church Council, Parish Office, St Mary’s Church, Honey Hill, Bury St Edmunds, Suffolk IP33 1RT.

Email address for further information: stmarystpeter@gmail.com

Websites: www.wearechurch.net, stmaryschurchbse.org , stpetersbse.uk

Parish legal name: Bury St Edmunds, St Mary.

Benefice name: Bury St Edmunds: St Mary with St Peter’s District Church

The PCC banks with Royal Bank of Scotland, Drummond House, Edinburgh EH12 9JN and with HSBC, 54 Abbeygate Street, Bury St Edmunds IP33 1LJ.

INDEPENDENT EXAMINER

Robin Jackson FCA, Chartered Accountant, Churchgate Accountants Ltd, 18 Langton Place, Bury St Edmunds IP33 1NE.

2. STRUCTURE, GOVERNANCE AND

MANAGEMENT

The PCC has, as a governing document, two pieces of Church of England legislation, called Measures. These are the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules 2020 as amended.

The PCC is constituted as an unincorporated association. It is registered as charity with the Charity Commission.

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Annual Report for the year ending 31 December 2021

PCC MEMBERSHIP

Lay representatives of the Diocesan and Deanery Synods, Licensed Lay Ministers and Churchwardens are ex-officio members of the PCC. Lay members were elected at the Annual Parochial Church Meeting (APCM), held in April 2021.

Vicar The Revd S Harvey
Associate Minister (St Peter’s) The Revd A Williams
Assistant Curate The Revd Laura Mumford (formerly Laura Pope)
Parish Churchwardens Dorothy Haile (St Mary’s), Stuart Lowe (St Peter’s )
both to 2022.
District Churchwardens Dorothy Haile (St Mary’s, to 2022), Brian Jones (St
Mary’s to 2022), Stuart Lowe (St Peter’s, to 2022),
David Ayrton (St Peter’s, to 2022)
Deanery Synod Lay Representatives Andrew Gayfer (St Mary’s, to 2023), John Dixon (St
Peter’s, to 2023), Philip Lloyd-Jones (St Peter’s, to
2023), leaving one vacancy (St Mary’s, to 2023)
PCC Treasurer Colin Firth
PCC Secretary Jackie Crofts
PCC Minutes Secretary Shelagh Wallace
Elected members (St Mary's) Virginia Dean, Nigel Beeton, Robin Goodchild, Shelagh
Wallace, leaving one vacancy
Elected members (St Peter's) Duncan MacInnes, Jackie Crofts, Ian Nurcombe,
leaving two vacancies
Co-opted members The Revd David Crofts, Rob Bream
Ex-officio members Peter Boyt, Colin Firth (members of Diocesan Synod)

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Annual Report for the year ending 31 December 2021

COMMITTEES

The Parochial Church Council (PCC) is the trustee body of the charity and is constituted under the Church Representation Rules. The PCC usually meets quarterly. During 2021, the PCC met five times online. The Annual Meeting of Parishioners and Annual Parochial Church Meeting was held on 25 April 2021. As usual, this was combined with a service of rededication.

The PCC elected a PCC Standing Committee consisting of the vicar, associate minister, curate, vice-chair, secretary, treasurer of St Peter’s, treasurer of St Mary’s, churchwardens and district churchwardens. The standing committee has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. During 2021, it met five times online. The Thomas Clarkson Centre Management Committee is chaired by David Crofts and covers all aspects of the use and maintenance of this parish asset.

St Mary's and St Peter's District Church Councils (DCCs). The two churches work together under a Scheme of Delegation. Each has its own District Church Council, which meets at least three times per year, and reports to the PCC. The separate meetings are able to discuss matters affecting the individual churches. All policy, financial and faculty matters and proposals affecting the whole parish are referred to the PCC. Each church has its own subcommittees.

Each church has its own Mission Focus group which considers the support of mission partners and other agencies to deliver the parish’s objectives.

The patron of the parish is Simeon’s Trustees / The Hyndman Trustees.

The wider ministry team (clergy, lay pastor, readers ) met five times during 2021. (Prior to November 2021 this meeting was named the ‘Staff Meeting’.) The meetings’ chief purpose is to ensure that the team of preachers and leaders of services are apprised of latest developments and consulted on relevant issues.

A full health and safety risk assessment was last carried out in 2015. The policy can be found on our website (www.wearechurch.net). The health and safety policy was reviewed in 2017, ensuring that there is a policy for each of the three sites and St Mary’s health and safety policy was reviewed again in 2018.

The PCC complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishop’s guidance on safeguarding children and vulnerable adults).

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Annual Report for the year ending 31 December 2021

3. CHARITABLE AIMS AND PURPOSES

Church of England parishes seek to promote the whole mission of the church, pastoral, evangelistic, social and ecumenical.

This aim was expressed in a statement in 2017 as follows:

we seek to worship the God and Father of our Lord Jesus in the power of the Holy Spirit; to teach the Bible in a way relevant to everyday life; to grow people in faith, understanding and love; to equip people to serve others; to offer people opportunities to meet Jesus and discover forgiveness and new life.

PARISH STATISTICS

The Parish of St Mary with St Peter is 2.6 square miles of central and southern Bury St Edmunds, characterised by residential estates and town centre businesses. The parish population in 2018 was 12,760, living in approximately 5,700 households.

In latest available data, the parish is ranked 9161 out of the Church of England’s 12,382 parishes according to indices of deprivation (1 = most deprived). The age profile of residents is older than the national average.

The parish’s boundaries were enlarged as part of a scheme of local parochial re-organisation enacted by a bishop’s order dated 1 December 2020. The effects are to include land that has been designated for future residential development near to the town, so the population of the parish will increase significantly in the next decade.

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Annual Report for the year ending 31 December 2021

4. CHARITABLE OBJECTIVES

In 2021, the parish’s activities were limited by the Covid-19 pandemic restrictions, which varied and were sometimes severe. This required a flexible and adaptable response and the pattern of ministries varied according to what was possible at the time. The restrictions were most strict at the start and at the end of the year. Nevertheless we were able to fulfil our aims and purposes including the following public charitable services:

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Annual Report for the year ending 31 December 2021

week. In normal circumstances, a very large number of people use the centre for a wide range of activities which promote wellbeing, health, social support and the work of the church. During 2021, the pandemic severely reduced the numbers of bookings. The renaming of the centre followed the disclosure of information by the Hyndman Trustees about the origin of their charity, which was established with funds derived from the trade in enslaved people, the PCC established a working group to consider whether it is appropriate to continue to memorialise the Hyndman name in the naming of the centre and approved its proposals for the change of name.

The vicar, the associate minister and the PCC have considered the Charity Commission’s guidance on public benefit and the specific guidance on charities for the advancement of religion.

The Parochial Church Council works diligently to ensure it fulfils its responsibilities for safeguarding, employment, financial management, upkeep and repair of its buildings and stewardship of its resources.

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Annual Report for the year ending 31 December 2021

5. ACHIEVEMENTS AND PERFORMANCE

For a second successive year, the Covid-19 (Coronavirus) pandemic had a large impact on the activities of the parish. At the end of the year the surge of the Omicron variant of SARS-COV2 led to further restrictions, after a period of eased precautions. At all times we sought to comply with the regulations and restrictions imposed on us, while maintaining our work as far as possible.

WORSHIP MINISTRIES

In January 2021, there was one combined parish service on Sunday mornings at St Mary’s Church and one online service broadcast from St Peter’s Church. A more normal pattern was re-introduced at Easter and continued to grow throughout the year. By December 2021, there were three services St Mary’s Church and one at St Peter’s Church on Sundays, plus a midweek service at St Mary’s Church. The transition from two to four/five services per week required an enormous amount of planning and hard work from a wide range of people.

Some of the midweek care home services resumed.

Each month, a Parish Prayer meeting was held. A St Peter’s Vision Prayer Meeting was held weekly. Online daily prayer continued to reach a significant number of people.

We were able to go ahead with many of our regular civic services in 2021. The Jankyn Smyth Commemoration service on 24 June, The Battle of Britain Commemoration Service on 19 September, and the Remembrance Civic Service on 14 November took place in St Mary’s Church. Restrictions on numbers attending were still in place.

Many of the special services which were cancelled or curtailed in 2020 were able to resume.

Records were kept of church attendances, which varied substantially through the year. In the autumn, St Mary’s had total attendances at in-church services of around 110 and St Peter’s around 60.

Services for life events (baptisms, weddings and funerals) were held in both churches.

At St Mary's Church, the numbers (with 2020 figures in brackets) were: 1 (1) thanksgiving services for the birth of a child, 10 (3) baptisms, 13 (4) weddings, 0 (1) wedding blessing, 9 (6) funerals, 0 (0) renewal of marriage vows and 0 (0) memorial services.

At St Peter's Church there were 1 (0) baptisms, 0 (0) thanksgiving services for a child, 0 (0) weddings, 0 (0) wedding blessings, 0 (0) renewal of marriage vows, 5 (4) funerals and 0 (1) memorial services.

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Annual Report for the year ending 31 December 2021

The parish conducted 14 (16) funerals at a crematorium or cemetery in 2021, making a total of 28 (29) funeral services conducted by members of staff as well as 1 (2) interments of ashes.

St Mary’s Church was closed to visits for the purpose of tourism for most of the year but opened again at the end of July 2021. The church is now kept open from 10.30am -3pm every day.

The annual Parish Holiday Club which was due to take place from 24 - 27 August 2021 unfortunately had to be cancelled.

ELECTORAL ROLL AND MEMBERSHIP

In 2021, we carried out revisions of the Electoral Roll in April. At the Annual Parochial Church Meeting there were 263 (272) on the electoral roll. Of these, 188 (193) were on St Mary’s electoral roll, and 76 (81) were on St Peter’s roll. 1 (2) appeared on both rolls.

RAISING VOLUNTARY INCOME THROUGH GIVING

Both St Mary’s and St Peter’s had made strong efforts in campaigns during 2019 to raise income from planned giving, as a response to the generosity of God. In 2021, we considered, but decided against, holding another planned giving campaign. We are thankful to the members of both churches who responded with pledges to raise giving substantially. It has been encouraging to find that voluntary giving has not suffered as much as might have been predicted during the pandemic.

At St Mary’s in 2021 £129,123 (2020 £129,332) was given to the general fund through collections, tax effective regular giving and general donations. £16,505 (2020 £15,218) was given by or through the church for other charities or good causes.

At St Peter’s in 2021 £72,874 (2020 £74,245) was given to the general fund through collections, tax effective regular giving and general donations. £14,269 (2020 £13,176) was given by or through the church for other charities or good causes.

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Annual Report for the year ending 31 December 2021

PARISH SHARE

The parish contribution to the diocesan share was £154,000 (2020 £166,644). In 2022 the parish will pay a contribution of £156,000. The parish is one of the highest contributors to the diocesan share. Please refer to the finance section of this report for further details.

OTHER ACTIVITIES

St Mary’s shares the site of the ancient and ruined Abbey of St Edmund with the cathedral, the public Abbey Gardens and others. Plans to celebrate the millennium of the Abbey’s foundation in 1020 were postponed again in 2021 and will be celebrated in 2022 instead.

Some of the social activities which were suspended for the greater part of 2020 resumed in 2021. Bible Study groups continued online. The Men’s Group continued with their monthly breakfasts when possible and met online when it was not possible to meet in person. Socially distanced parish walks took place each month from July to October. Social evenings under the banner of ‘Reaching Out’ were organised online on a regular basis. The monthly ‘Crafts Around the World’ evening continued online with a specific aim of reaching those who do not usually attend church.

We seek to encourage people to work both with other churches in the town, and the work of the Christian church in the wider community. People from the congregations work with BCY (Bury Christian Youth), the Bury Drop in, Town Pastors, Sporting 87 (a Christian football club), CAP (Christians against poverty) and the St John’s Ecumenical Centre.

OPERATING BUILDINGS

The parish maintains St Mary’s Church, St Peter’s Church and the Thomas Clarkson Centre. As the lockdown restrictions have eased over the past year it has been possible to carry out more work on the fabric of St Mary’s than in 2020. The increasing unreliability of the tower lift and advice that either a major overhaul or complete renewal was needed led to a decision to take the lift out of service on a permanent basis. The fixed electrical circuits were inspected and some follow up work was required to remedy faults identified by the inspection. The church’s architect inspection showed that the building is in generally good repair and no major problems have been identified. A programme to repair stonework that has decayed in various locations and repairs to metal work on the roof and flashings is being prepared. Investigations into improving the sound system are continuing. As usu al, regular maintenance and services were carried out in all the buildings. At St Peter’s the interior lighting was rewired and all units converted to LED. A large tv monitor was installed on the north wall (pillar) of the Nave. Usual maintenance and servicing was carried out.

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Annual Report for the year ending 31 December 2021

6. STAFFING AND EMPLOYMENT

During 2021 there were significant changes to the employed staff.

The St Mary’s caretaker and events co-ordinator role was split. The caretaker continues to work reduced hours. The parish administrator became the events manager. The administrative assistant became the church administrator.

The St Peter’s children and families worker role was made redundant.

The parish employs two cleaners

Richard Baker was appointed Director of Music at St Mary’s Church. Chris Ballam continued as acting Choir Director and DB Di Blasio as organist.

Some staff were placed on furlough at times under the government’s Coronavirus Job Retention Scheme, which ended in the autumn. The salaries of each were paid to the employees in full.

We were delighted that our Assistant Curate The Revd Laura Mumford (formerly Laura Pope) was ordained priest on 4 July 2021 at the Cathedral of St Edmundsbury and Ipswich.

Andy Williams continued to serve as associate minister.

Simon Harvey continued to serve as vicar and incumbent of the parish. In June 2021, he informed the bishop and the parish of his intention to resign the benefice in 2022, in order to spend more time with his wife, who was diagnosed with advanced cancer.

A very large proportion of the activity in the parish is undertaken by volunteers and we are very grateful for their work. A number of our ministers as well as lay volunteers found themselves classified as particularly vulnerable to COVID 19 and were therefore unable to continue with their usual range of duties.

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Annual Report for the year ending 31 December 2021

7. FINANCIAL REVIEW

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

Across the whole Parish income of all funds for 2021 amounted to £282,620 (2020 £293,764) as shown on the financial statements. That included income from bequests and donations in memoriam totaling £1,000 (2020 nil). The bequest was wholly to be used for restricted purposes. £26,408 (2020 £22,824) came from letting the parish hall, which was supplemented by government grants of £650 (2020 £10,350) related to the Covid-19 pandemic, £22,372 (2020 £23,380) from investment income, £7,468 (2020 £3,422) from such main charitable activities as weddings and funeral services and the balance of approximately £224,720 (2020 £233,800) came primarily from church members. There were slightly fewer exceptional items in 2021 within the £224,720 than in 2020. St Peter’s Social and Fellowship Fund raised £550 (2020 £564). St Peter’s activities at Westgate generated £418 (2020 £6,242). At St Mary’s £2,251 was raised from event fees and other fundraising activities (2020 £1,549); nil was raised for Choir association activities (2020 £752); savings on organ maintenance contributed £2,816 (2020 £1,292) to the Organ Fund. Stripping out these exceptional items, the recurrent income raised from the congregations amounts to about £218,680 (2020 £223,400).

Again, taking the Parish as a whole, expenditure on charitable activities totaled about £317,700 (2020 £350,500). Various items of exceptional expenditure were incurred in 2021. £12,700 (2020 £22,500) was spent on Fabric at St Mary’s. No amount was spent in either 2021 or 2020 on upgrading the sound system at St Mary’s. £9,300 (2020 £16,700) was spent at St Peter’s to improve the sound system, to improve disabled access and in preparation for a planned extension to the church building. £400 (2020 £1,900) was spent on fabric maintenance at St Peter’s. St Mary’s Choir Association spent nothing in either 2021 or 2020 on choir activities. £550 (2020 £650) was spent on Social & Fellowship through the St Peter’s accounts. £9,000 (2020 £22,800) was charged to St Peter’s Daphne Swatman Mission Fund. Expenditure through the General Funds decreased marginally by £1,200 at St Mary’s and by £900 at St Peter’s. £42,500 (2020 £38,000) was spent at the Thomas Clarkson Centre, the increase being attributable to an increase in building and refurbishment works offset by a smaller contribution to Parish Share. Expenditure on charitable activities included donations and grants to other charities totaling about £30,770 (2020 £28,400). In addition to expenditure on main charitable activities, costs of fundraising were very small in both 2021 and 2020.

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Annual Report for the year ending 31 December 2021

After taking into consideration a rise in the value of our investments by about £125,000 (2020 £58,900) our income and gains therefore exceeded our expenditure and losses by about £89,000 (2020 £2,100), of which about £1,000 was attributable to bequests and donations in memoriam (2020 nil) and £15,500 attributable to the deficit (2020 £4,800) generated by the Thomas Clarkson Centre.

Each of the three component parts of the PCC’s financial activities has a reserves policy appropriate to its circumstances.

At the end of 2021 St Mary’s had total net assets, excluding permanent endowments, of approximately £1,050,200. That is made up of £289,400 balances on unrestricted funds and £760,800 balances on restricted funds. Within unrestricted funds, the main balances for day-to-day purposes are the general fund and a linked fund together having a balance of £51,400. This balance is not consistent with the reserves policy of holding sufficient in such reserves to pay six months recurrent bills, but general reserves can have recourse to the Mission Development Fund. The Mission Development Fund is the other main unrestricted fund with a balance of about £236,500, which the PCC aims to use for development rather than simply maintenance of the mission life of the church, but can, if needed, be used to support the general fund. The main reserves within restricted funds are the Fabric Fund and linked funds, which have total balances of £704,500. The PCC wishes to retain £223,800 consisting of the Rae portfolio intact, leaving £480,700 available to meet any urgent work on the fabric of St Mary’s. The £480,700 includes equity-based investments of £383,900, which are subject to stock market fluctuations.

St Peter’s has net assets of about £412,300. The main components of these are a Fabric Fund balance of £363,200 (including the surplus on linked investments), other restricted fund balances of £8,400, the balance of the Daphne Swatman Mission Fund of £19,300 and a General Fund balance of £21,400, sufficient to meet normal recurrent bills over a period slightly less than four months.

The Thomas Clarkson Centre has net assets of £618,250. That includes the building itself at a valuation of £250,000 plus expenditure incurred to the end of 2013 of £323,600 on planning and building the extension of the hall. General realisable reserves of about £44,650 are held. These are sufficient to meet short-term likely refurbishment costs and to meet recurrent bills for six months.

Amounts not expected to be used in a period of about five years since acquisition are held in equity based pooled investments with the Church of England Investment Fund. Across the Parish these assets, excluding endowment funds, total about £915,400. These rose in value in 2021 by 14.3%. This investment fund has an ethical approach consistent with Church of England ethical principles. A further amount of £610,400 is held with various

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Annual Report for the year ending 31 December 2021

banks, of which £80,000 is held on deposit with the Church of England Deposit Fund. Much of the amounts held with Church of England Deposit Fund is likely to be spent on further building work being planned at St Mary’s church. Bank deposit balances are held at a high level by St Peter’s in anticipation of work to be carried out on the Fabric of St Peter’s.

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Annual Report for the year ending 31 December 2021

8. PLANS FOR THE FUTURE

The Covid-19 (Coronavirus) pandemic which appeared to have peaked in January 2021 intensified again in the autumn and is still a significant challenge for the parish. The recovery of ministries and activities has been unpredictable and we recognise that the former shape of parish life may not return as it was. The context for our work changed, as the whole world has battled with the disease. And our ability to work has been severely curtailed by the restrictions imposed upon every UK citizen and organisation for the protection of public health.

The vicar’s resignation will take effect from May 2022 and the advance notice of the vacancy permitted an acceleration of the normal appointments processes. The new incumbent will need time to identify the opportunities for further development and growth.

The priority for the future begins with continuing the focus that we held in 2020, to continue as far as we are able to deliver the ministry and mission of the Church. We have learned to be humble with our planning and to be realistic about the uncertainties that cannot be controlled. The combined effects of the pandemic and the forthcoming vacancy are to make planning processes provisional, and short- to medium-term.

The future plans can be summarised as follows:

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ArtnuolRewrtANtfve )eorenthno 31 2021 SIGNED ON BEHALF OF THE PAROCHIALCHURCH COUNCIL Vicar and chair of the PCC: Lay vice chair of the PCC". Date: 17

StatementofFinancialActivities for theParishincorporating
StMary's, St Peter's andtheHyndman Centre 1
Balance Sheetat31 December2021for theParish
incorporatingStMary's,5tPeter's andtheHyndmanCentre 2
CashFtowStatementfor theParishincorporating
StMary's, St Peter's andtheHyndman Centre 3
Statementof trustees'responsibilities 4
AccountingPolicies 5to6
5tMary'sincomeandexpenditureoffunds 7to11
5tMary'sdetailsoffundbatances 12
St Peter'sincomeandexpenditureoffunds 13to15
St Peter'sdetailsoffundbatances 15
HyndmanCentre detaits of incomeandexpenditure 16
Notesto financialstatements 17to24

PAROCHIAL CHURCH COUNCIL OF ST MARY'S WITH ST PETER'S BURY ST EDMUNDS

STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2021

ST MARY'S ST PETER'S ST PETER'S THOMAS CLARKSON CENTRE THOMAS CLARKSON CENTRE THOMAS CLARKSON CENTRE PARISH PARISH
Unrestricted Restricted Endowment TOTAL Unrestricted Restricted TOTAL Unrestricted Restricted TOTAL TOTAL
Funds Funds Funds FUNDS Funds Funds FUNDS Funds Funds FUNDS FUNDS
2021 2020 2021 2020 2021 2020 2021 2020
Note £ £ £ £ £ £ £ £ £ £ £ £
Income and endowments from
Donations and legacies 2(a),2(c),4(a),4(c),6 129265 11969 141234 142000 73292 8945 82237 90239 650 650 10350 224121 242589
Other trading activities 2(a),2(c),4(a),4(c),6 2251 2251 1549 26408 26408 22824 28659 24373
Investments 2(a),2(c),4(a),4(c),6 4000 16562 20562 20389 234 1575 1809 2979 1 1 12 22372 23380
Charitable activities 2(a),2(c),4(a),4(c),6 6310 515 6825 2946 643 643 476 7468 3422
__ __ __ ___ __ __ ___ __ __________
TOTAL INCOME AND ENDOWMENTS 141826 29046 170872 166884 74169 10520 84689 93694 27059 0 27059 33186 282620 293764
-------------- -------------- -------------- ------------------------ -------------- -------------------------- ------------ --------------------------------------------------------------------------------
Expenditure on
Raising funds 2(b),2(d),4(b),4(d),6 881 881 38 881 38
Charitable activities 2(b),2(d),4(b),4(d),6 155400 16637 172037 185642 82979 20164 103143 126906 42527 42527 37979 317707 350527
__ __ __ ___ __ __ ___ __ __________
TOTAL EXPENDITURE 156281 16637 172918 185680 82979 20164 103143 126906 42527 0 42527 37979 318588 350565
-------------- -------------- -------------- ------------------------ -------------- -------------------------- ------------ --------------------------------------------------------------------------------
Net gains/(losses) on investments 17077 76300 6857 100234 45800 24788 24788 13116 125022 58916
-------------- -------------- -------------- ------------------------ -------------- -------------------------- ------------ --------------------------------------------------------------------------------
Net Income and gains/(expenditure and losses) 2622 88709 6857 98188 27004 (8810) 15144 6334 (20096) (15468) 0 (15468) (4793) 89054 2115
Transfer between funds 10597 (10597) 0 0 (1200) 1200 0 0 0 0 0 0
-------------- -------------- -------------- ------------------------ -------------- -------------------------- ----------- --------------------------------------------------------------------------------
Net Income and gains/(expenditure and losses)
before other recognised gains and losses 13219 78112 6857 98188 27004 (10010) 16344 6334 (20096) (15468) 0 (15468) (4793) 89054 2115
Other recognised gains/losses
Gains (losses) on revaluation of fixed assets
Actuarial gains/losses on defined benefit pension schemes
__ __ __ ___ __ __ _ ______ __ __________
NET MOVEMENT IN FUNDS 13219 78112 6857 98188 27004 (10010) 16344 6334 (20096) (15468) 0 (15468) (4793) 89054 2115
Total funds brought forward 3,5,6 276210 682704 47928 1006842 979838 50740 355243 405983 426079 633726 633726 638519 2046551 2044436
at beginning of year
__ __ __ ___ __ __ _ ______ __ __________
Total funds carried forward
at end of year 3,5,6 289429 760816 54785 1105030 1006842 40730 371587 412317 405983 618258 0 618258 633726 2135605 2046551
**__ ** __ __ _**__ ** **__ ** __ **___ ** **__ ** __________

1

PAR￿MIAL CHURCH COUNCIL OF ST MARYS WITH ST PETER'S, BURY ST ÉDMUNOS BALANCE SHEET AT 31 DECEMBER 2021 Not• 2021 2020 st M•rf• Thom•• Clark6on Centro Pgrlsh St St P•t•rf• Thoma8 Cluk¥on ¢•ntr• P•rl•h FIXED AsseTS T8ngitA8 Investment InveBtrnèni$ Regin8kl FUr￿8nd portfollo Fabric portfolio 10 S73599 573599 322036 252388 248953 166108 e62 282805 222S24 217798 330 573599 574591 282805 222524 217798 141320 322038 252368 248953 12 1e6108 141320 CURRENT A88ET8 Sl¢th of Gards. guides & bo¢ki DebtorB and prap8ym8nts Cash 81 bank and In hand 967 4Q97 . 610459 1621 2941 298203 1621 13 3019 299CI15 1078 e4254 325 70727 24715h) 268705 e34635 CURRENT LIABILITIE8 Cr¢dll¢rs 14 1213301 19811 1200731 1429841 1197101 113721 1109251 1320071 NET CURREMT ASSETS 281671 246209 446S9 S72839 283085 284333 60127 607515 L￿n Is NeT ASSETS 1105030 412317 e18256 2135605 1Lb)6642 405983 633726 2046551 FUNDS 16 Endowment Roslrictsd Vntysiri¢t•d 54785 760816 289429 5478S 1132403 948417 47926 e827Q4 276210 47928 1037947 960876 3T1587 40730 355243 $0740 618258 e33726 TOTAL FUNI)S 1105030 412317 618258 2135805 1LK16842 405983 633726 2046551 This balance sheol folms part ofthe fbn$nri81 st*rnents appro¥¥d on 22 Marth 2022 PCC Chairman PCC Tiea5urer

PAROCHIAL CHURCH COUNCIL OF ST MARY'S WITH ST PETER'S, BURY ST EDMUNDS

CASH FLOW STATEMENTS FOR YEAR ENDED 31 DECEMBER 2021

Note 2021 2021 2020
£ £
St Mary's St Peter's Thomas
Clarkson Centre		 Parish St Mary's St Peter's Thomas
Clarkson Centre		 Parish
Net cash inflow from operating activities (19750) (20324) (6474) (46548) (36104) (35235) 5717 (65622)
Interest received 8 20562 1809 1 22372 20389 2979 12 23380
Interest paid 15 0 0 0 0 0 0 0 0
Net cash inflow from investments 20562 1809 1 22372 20389 2979 12 23380
(Capital expenditure) 10 0 0
Sale of investments 0 0
(Purchase of investments) 0 0
______ ______ _____ _ ______ _____ ____ _
Increase/(decrease) in Cash 812 (18515) (6473) (24176) (15715) (32256) 5729 (42242)
====== ====== ==== ======= ======= ===== ==== =======
Reconciliation of operating surplus to net cash inflow from operating activities
Operating surplus/(deficit) SOFA 98188 6334 (15468) 89054 27004 (20096) (4793) 2115
(Investment income) 8/15 (20562) (1809) (1) (22372) (20389) (2979) (12) (23380)
(Gains)/losses on investments SOFA (100234) (24788) (125022) (45800) (13116) (58916)
Depreciation 10 662 330 992 661 331 992
Decrease/(Increase) in stock 654 654 38 38
Decrease/(Increase) in debtors 13 (78) 0 (753) (831) 159 190 (325) 24
Increase/(decrease) in creditors 14 1620 (391) 9748 10977 2223 435 10847 13505
______ _ _____ _ ______ _____ _____ _
Net cash inflow from operating activities (19750) (20324) (6474) (46548) (36104) (35235) 5717 (65622)
====== ====== ====== ======= ======= ===== ==== =======
Reconciliation of net cash flow to movement in cash and bank balances
Increase/(decrease) in cash in year 812 (18515) (6473) (24176) (15715) (32256) 5729 (42242)
Cash and bank balances at beginning of year 298203 265705 70727 634635 313918 297961 64998 676877
______ _ ______ _ _ ______ ______ _
Cash and bank balances at end of year 299015 247190 64254 610459 298203 265705 70727 634635
====== ====== ====== ======= ======= ===== ====== =======

3

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

4

PAROCHIAL CHURCH COUNCIL OF ST MARY'S WITH ST PETER'S, BURY ST EDMUNDS

Notes to the Financial Statements For the year ending 31 December 2021

1 Accounting Policies

Basis of financial statements

The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS 102.

The financial statements have been prepared under the historic cost convention except for investment assets, which are shown at market value. The financial statements include transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of any church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.

Fund accounting

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available to be spent on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The unrestricted funds of each of St Mary's and St Peter's Churches are, in practice, restricted to the furtherance of mission primarily as decided by the District Council of each respective Church.

Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in the notes to the financial statements. Endowment funds, where the capital must be retained, are explained in note 17.

Incoming Resources

Donations and legacies

Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised in the final amount claimable for the tax year ending in the period of accounts plus an iterim claim in respect of the next following tax year. Grants and legacies to the PCC are accounted when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are readily quantifiable.

Income from other trading activities

Funds raised by letting the Thomas Clarkson (formerly Hyndman) Centre (parish hall), fund raising events and sales of cards and guides from the church bookstall are accounted for gross.

Income from investment

Dividends and interest are accounted for when declared receivable.

Income from Charitable Activities

Income is recognised for the period in which it is earned.

Resources used

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC.

5

1 Accounting Policies (Continued)

Activities directly related to the work of the Church

The diocesan parish share expected to be paid over is accounted for when due.

Other expenditure

All other expenditure is recognised when it is incurred and is accounted for gross.

Gains and losses on investments

Realised gains and losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.

Fixed Assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by 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 accounted for as inalienable property unless consecrated. They are listed in the church’s Inventory which can be inspected at any reasonable time. For inalienable property acquired prior to 2001, there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight line basis.

All expenditure incurred during the year on consecrated or beneficed buildings, individual items under £2,500 or on the repair of movable church furnishings acquired before 1 January 2001 is written off.

Other land and buildings

The Thomas Clarkson (formerly Hyndman) Centre is shown at valuation so as to conform with SORP issued on 16 July 2014. Prior to SORP 2005 it was excluded since the PCC has a policy of long term retention of these assets. These assets are included at valuation on the balance sheet since reliable cost information is not available. Any expenditure on maintenance is written off as incurred.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

Investments

Investments are valued at market value at 31 December.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rent or other income are shown as debtors less any provision for amounts that may prove uncollectible.

Short-term deposits include cash held on deposit either with the CBF Church of England Deposit Fund or at the bank.

6

Note 2 St Mary's Church Summary of income of unrestricted funds

Total General Bells Family Heritage Mission Social & Sound Tiddlywinks Clergy
Worship Development Fellowship Happy Hands Housing
Income and endowments: donations and legacies 129265 129123 142
Income from other trading activities 2251 2251
Income from Investments 4000 889 3111
Income from Charitable activities 6310 6115 195
Other income 0
Total income of unrestricted funds 141826 138378 0 0 0 3111 142 195 0 0
Summary of expenditure of unrestricted funds
Total General Bells Family Heritage Mission Social & Sound Tiddlywinks Clergy
Worship Development Fellowship Happy Hands Housing
Expenditure on Raising Funds
Cost of Giving envelopes 0
Fundraising: costs of goods sold and expenses 881 881
Expenditure on Charitable activities 155400 154585 211 151 453
Total expenditure of unrestricted funds 156281 155466 0 0 0 0 211 151 453 0
Summary of income of restricted funds
Total Choir Fabric Flowers Friends M J Walker Mission Organ Phoenix Projects
Association Hymn
Income and endowments: donations and legacies 11969 3098 3086 5785
Income from other trading activities 0
Income from Investments 16562 16304 258
Income from Charitable activities 515 515
Other income
Total income of restricted funds 29046 0 16304 515 0 0 3098 3344 0 5785
Summary of expenditure of restricted funds
Total Choir Fabric Flowers Friends M J Walker Mission Organ Phoenix Projects
Association Hymn
Expenditure on Raising Funds
Fundraising trading: costs of goods sold 0
Expenditure on Charitable activities 16637 12727 755 3098 57
Total expenditure of restricted funds 16637 0 12727 755 0 0 3098 0 0 57

7

Note 2(a) St Mary's Church

Income of unrestricted funds

2021 2020
Income and endowments
Donations and legacies
Fund Description of Income
General Planned Giving attracting tax relief 90837 92215
Tax recovered 24121 24462
Non-recurrent tax recovered 2782
Other collections and donations 14165 9873
______ 129123 _ 129332
Mission Development Bequests
______ 0 _ 0
Social & Fellowship Donations 142 0
------------ ------------
129265 129332
====== ======
Income from other trading activities
Fund Description of Income
General Postcards, books, CD's & sundries 165 997
Concerts and fundraising events 2086
--------- ---------
2251 997
===== =====
Income from Investments
Fund Description of Income
General Interest and dividends 889 1047
Mission Development Interest and dividends 3111 3107
--------- ---------
4000 4154
===== =====
Income from Charitable activities
Fund Description of Income
General Wedding etc. fees 6115 2766
Sound Wedding etc. fees 195 60
--------- ---------
Total 6310 2826
===== =====

8

Note 2(b) St Mary's Church

Expenditure of unrestricted funds

2021 2020 2020
Expenditure on Raising funds
Fund Description of Expenditure
General Cost of giving envelopes 0 0
General Postcards, books, CD's & sundries 654 38
Costs of concerts and fundraising events 227
--------- ---------
881 38
===== =====
Expenditure on Charitable activities
Fund Description of Expenditure
General Parish Share paid to
Diocese 80160 87810
Clergy expenses 1317 2290
Alpha course etc.
Children's material
Bibles, books, wine & candles 581 392
Organ & choir costs 11853 8049
Utilities & insurance 22820 21144
Wedding etc. expenses 796 350
______ 117527 ______ 120035
General Depreciation 662 661
Office running costs 725 773
Parish administrators 16594 16869
Youth work 252 249
Caretaker 2579 4550
Printing, stationery and advert. 1521 2536
Photocopying & paper 359 523
Sundries 418 277
Telephone 441 502
______ 23551 ______ 26940
General Grants made 13407 9556
Mission Development Sound system improvements
Social & Fellowship Refreshments etc. 211
Sound Microphones, batteries, cables etc. 151 317
Tiddlywinks Curate's Start-Rite activities 453
Governance Costs
Fund Description of Expenditure
General Audit/Independent Examination Fee 100 100
------------ ------------
Total 155400 156948
======= =======

9

Note 2(c) St Mary's Church

Income of restricted funds

2021 2020
Income and endowments
Donations and legacies
Fund Description of Income
Choir Association Donations and subscriptions etc. 200
Fabric Other grants and donations 1296
Bequests
_____ 0 _____ 1296
Friends of St Mary's Donations and subscriptions
Mission Collections and monthly giving 3098 4819
Organ Donations 3086 1433
Phoenix Folk Group Donations
Projects Fund Donations 4785 4920
Bequest - Dennis Newton 1000
---------- --------
11969 12668
====== =====
Income from other trading activities
Fund Description of Income
Choir Association Fund raising income 552
--------- ---------
Total 0 552
===== =====
Income from Investments
Fund Description of Income
Fabric Dividends from Sayer bequest 847 818
Dividends from Rae bequest 5681 5486
Dividends from Fursland portfolio 6318 6102
Other investment income 3458 3580
_____ 16304 _____ 15986
Organ Dividends from Plumpton bequest 258 249
--------- --------
Total 16562 16235
===== =====
Income from Charitable activities
Fund Description of Income
Flower Wedding fees & donations 515 120
M J Walker Hymn Use of Hymn
--------- --------
Total 515 120
===== =====

10

Note 2(d) St Mary's Church

Expenditure of restricted funds

2021 2020
Expenditure on Raising funds
Fund Description of Expenditure
Choir Association Costs of fundraising concerts etc. 0 0
====== =====
Expenditure on Charitable activities
Fund Description of Expenditure
Choir Association Choir activities
______ 0 ______ 0
Fabric Carpentry 680 1265
Caretaker 3969 4550
Covid-19 barriers 597
Flags and flagpole repairs 112 1174
Gospel stories banners 534
Lift repair 1140 1031
Lighting and electrical 2317 1207
Miscellaneous 746 272
Redecoration of stairwell 632
Roof and lead security 1143
Statutory tests & maintenance 2103 1358
Stone Flooring 9903
Wooden board 517
______ 12727 ______ 22523
Flowers Provision of flowers 755 439
Mission Grants made 3098 5662
Phoenix Folk Group Microphone, guitar leads etc.
Projects Fund Reaching out Group 57 70
______ 57 ______ 70
---------- ---------
Total 16637 28694
====== =====

11

Note 3 St Mary's Church Details of Fund Balances at end of year

Fund Balances
2021 2020
£ £
Unrestricted Funds
General Fund 19877 18102
Surplus on CBF Shares 31519 27399
Bells Fund 0 5800
Clergy Housing Maintenance Fund 800
Family Worship 0 155
Mission Development Fund 189016 189016
Surplus/(deficit) on Mission
Development portfolio 47429 34472
Social and Fellowship 27 96
Sound Fund 276 232
Tiddlywinks/Happy Hands 485 938
----------- -----------
3(A) 289429 276210
====== =====
Restricted Funds
Choir Association 4715 4715
Fabric Fund 318989 314926
Flower Fund 511 751
Friends of St Mary's 0 5756
M J Walker Hymn Fund 0 542
Mission Fund 0 0
Organ Fund 35262 31918
Phoenix Folk Group 1 1
Projects Fund 6750 5807
Surplus on Croasdale & fabric
committee portfolios 26477 22372
Surplus on DBF deposit 8993 8751
Surplus/(deficit) on Fursland portfolio 121633 90476
Surplus/(deficit) on Porter portfolio 63470 50688
Surplus on Rae portfolio 174015 146001
----------- -----------
3(B) 760816 682704
====== =====

Expenditure on St Mary's Fabric can have recourse to the amount of the aggregate balances on the Fabric Fund plus the surpluses on the Croasdale & fabric committee, Porter and Rae portfolios. At 31 December 2021 this was £704,584 (2020 £624,463).

Endowment Funds
Sayer Bequest 33371 29194
Plumpton Bequest 10163 8891
Raingate Street Charity 4075 3565
Chancel Repair Fund 5737 5019
J Sutton Charity 432 378
St Mary's Estate 749 656
Lady Rivers Charity 258 225
--------- ---------
54785 47928
===== =====

12

Note 4 St Peter's Church

Summary of income of unrestricted funds

Summary of income of unrestricted funds
Total General Daphne
Swatman
Mission
Income and endowments: donations and legacies 73292 72874 418
Income from other trading activities
Income from Investments 234 234
Income from Charitable activities 643 643
Other income
Total income of unrestricted funds 74169 73517 652
Summary of expenditure of unrestricted funds
Total General Daphne
Swatman
Mission
Expenditure on Raising Funds
Fundraising trading: costs of goods sold
Expenditure on Charitable activities 82979 74025 8954
Total expenditure of unrestricted funds 82979 74025 8954
Summary of income of restricted funds
Total Fabric Little Fishes Love Gift Mission People Social &
(formerly (Toddler) in Need Fellowship
Reordering)
Income and endowments: donations and legacies 8945 14 300 8081 0 550
Income from other trading activities
Income from Investments 1575 1575
Income from Charitable activities
Other income
Total income of restricted funds 10520 1575 14 300 8081 0 550
Summary of expenditure of restricted funds
Total Fabric Little Fishes Love Gift Mission People Social &
(formerly (Toddler) in Need Fellowship
Reordering)
Expenditure on Raising Funds
Expenditure on Charitable activities 20164 10750 779 8081 0 554
Total expenditure of unrestricted funds 20164 10750 0 779 8081 0 554

13

Note 4(a) St Peter's Church Income of unrestricted funds

2021 2020
Income and endowments
Donations and legacies
Fund Description of Income
General Planned Giving attracting tax relief 56184 57821
Tax recovered 14026 13976
Other collections and donations 2664 2395
Special events/miscellaneous 53
______ 72874 ______ 74245
Daphne Swatman Mission Westgate Coffee Stop (formerly
Café at Westgate)
Westgate Community Café 264
The Den/Lighthouse 536
Donations 370 4437
Tax recovered 48 1045
______ 418 6282
----------- -----------
73292 80527
====== =====
Income from Investments
Fund Description of Income
Daphne Swatman Mission Interest 234 742
----------- -----------
234 742
===== =====
Income from Charitable activities
Fund Description of Income
General Wedding etc. fees 643 476
===== =====
Note 4(b) St Peter's Church
Expenditure of unrestricted funds
2021 2020
Expenditure on Charitable activities
Fund Description of Expenditure
General Parish Share paid to
Diocese 60840 61934
Clergy, readers & others' expenses 665 445
Bibles, wine, candles & flowers 408 96
Musical activities costs 295 415
Utilities, insurance & maintenance 773 1426
Wedding etc. expenses 100
Specific groups/services 145 98
______ 63126 ______ 64514
Parish administration 4000 4000
Depreciation 330 331
Printing, photocopying and advert. 160 78
Miscellaneous 121 675
Audit/Independent Examination Fee 100 100
______ 4711 ______ 5184
General Grants made 6188 5224
______ 74025 ______ 74922
Daphne Swatman Mission Westgate Coffee Stop (formerly
Café at Westgate) 47
Westgate Community Café 34
The Den/Lighthouse 730
Family worker 7969 21075
Equipment for outreach 70
Printing and publicity 68
Other outreach expenditure 985 798
______ 8954 ______ 22822
----------- -----------
Total 82979 97744
====== =====

14

Note 4(c) St Peter's Church Income of restricted funds

2021

2020

Income and endowments
Donations and legacies
Fund Description of Income
Fabric Donations 38
______ 0 ______ 38
Little Fishes Donations & subscriptions 14 156
Love Gift Donations 300 1002
Mission Collections and monthly giving 8081 7952
People in Immediate Need Donations
Social & Fellowship Donations & subscriptions 550 564
----------- ------------
Total 8945 9712
====== =======
Income from Investments
Fund Description of Income
Fabric Interest 1575 2237
----------- -----------
Total 1575 2237
===== =====
Note 4(d) St Peter's Church
Expenditure of restricted funds
2021 2020
Expenditure on Charitable activities
Fund Description of Expenditure
Fabric Building Extension 2026 2542
Fabric improvements 7270 14207
Insurance 980 1029
Maintenance 411 1948
Miscellaneous 63 241
______ 10750 ______ 19967
Little Fishes Expenditure of Toddlers 221
Love Gift Support given 779 360
Mission Grants made 8081 7952
People in Immediate Need Support given
Social & Fellowship Social expenditure 554 662
--------- --------
20164 29162
===== =====
Note 5 St Peter's Church
Details of Fund Balances at end of year
Fund Balances 2021 2020
£ £
Unrestricted Funds General Fund 21456 23164
Daphne Swatman Mission 19274 27576
--------- -----------
40730 50740
===== ======
Restricted Funds Fabric 297116 306291
Surplus on Fabric portfolio 66108 41320
Little Fishes (Toddler Group) 362 348
Love Gift 2246 2125
Mission 0 0
People in Immediate Need 4050 3450
Social & Fellowship 1705 1709
--------- -----------
371587 355243
===== =====

15

Note 6 Thomas Clarkson Centre Details of income and expenditure

Destination

Note THOMAS CLARKSON CENTRE (formerly HYNDMAN CENTRE)

For the year ended 31 December 2021

2021 2021 2021 2020 2020 2020
£ £ £ £
General Fund
Income
6(a) Covid-19 grants 650 10350
6(b) Donations
6(c) Hiring income 26408 22824
6(d) Bank interest 1 12
______ 27059 _____ 33186
Expenditure
Cleaning 4996 3882
Gas 984 4414
Electricity 405 780
Refuse Collection 592 79
Water Rates 467 619
Insurance 720 678
Maintenance & Fittings 3268 3417
New Entry System 803
Building works 10593
Internet 494 307
Sundry expenditure 8 0
Administration of bookings 7000 6000
Parish Share paid to Diocese 13000 17000
6(e) ______ (42527) _____ (37979)
Governance costs
6(f) Audit expenses (0) (0)
_ _
Surplus/(deficit) for year (15468) (4793)
6(g) Balance b/f 633726 638519
--------- ----------
6(h) Balance c/f 618258 633726
====== ======

16

Notes to the Financial Statements (continued)

For the year ended 31 December 2021

7 Staff costs 2021 2020
£ £
Thomas
St Mary's St Peter's Clarkson Parish Parish
Centre
Wages, salaries and social security 33895 11969 11733 57597 66837

During the year the PCC employed at St Mary's a Director of Music, an assistant organist, a choir leader, two parish administrators, a caretaker and a cleaner. The PCC also employed a cleaner at the Thomas Clarkson Centre. A family worker was appointed during 2017 at St Peter's on a fixed term contract to be financed from the Daphne Swatman bequest and came to an end during the year. The parish administrators' roles were reorganised during the year on the basis of two part time jobs and were employed partly on work related to St Mary's, St Peter's and the Thomas Clarkson Centre.

All employees earned below £60,000 pa. All employees but two were employed part time and by the end of the year all employments were part time.

The average number of full time equivalent employees for the year for the Parish was 4.

Costs reported in this notes were as reduced by £9,216 (2020 £15,831) claimed under the HMRC Coronavirus Job Retention Scheme

Employers' National Insurance costs amounting to £964 (2020 £1,227) were included in the costs reported in this note.

Employers' occupational pension costs under a defined contribution scheme with NEST amounted to £2,815 (2020 £3,836).

The salaries paid in the year to PCC employees who were also members of PCC or close family of such members were as follows: Administrator including Events Management Mrs J Crofts £21,836.

The salaries of the Administrators are set by St Mary's Finance Committee. Mrs J Crofts is not a member of that committee. The salaries are endorsed by the PCC. Mrs J Crofts disqualifies herself from consideration by the PCC of her salary.

Three members of the PCC were reimbursed travelling, telephone and other expenses totalling £1,932.

8 Investment Income

The gross investment income arising from each class of investment is disclosed as follows.

2021 2020
£ £
Thomas
Clarkson
St Mary's
St Peter's		 Parish Parish
Centre
Income from investments listed on a
recognised stock exchange and from ones
valued by reference to such investments 20507 20507 19874
Other investments - cash deposits 55
1809
1		 1865 3506
__ __ ______ _____
20562
1809
1		 22372 23380
===== ===== =====
 ====== =====
9 Transfers between Funds
Funds affected Reason for transfer
St Mary's 2021 2020
£ £
From Bells Fund to General Fund Dormant Bells Fund merged with General Fund 5800
To General Fund from Bells Fund Dormant Bells Fund merged with General Fund (5800)
From Fabric Fund to General Fund Insurance/alarm on Fabric met by Fabric Fund 5812 6096
To General Fund from Fabric Fund Insurance/alarm on Fabric met by Fabric Fund (5812) (6096)
From Family Worship Fund to General Fund Dormant Family Fund merged with General Fund 155
To General Fund from Family Worship Fund Dormant Family Fund merged with General Fund (155)
From Friends of St Mary's Fund to Fabric Fund Dormant Friends Fund merged with Fabric Fund 5756
To Fabric Fund from Friends of St Mary's Fund Dormant Friends Fund merged with Fabric Fund (5756)
From Projects Fund to General Fund Donations restricted to paying Staff wages 4785 4920
To General Fund from Projects Fund Donations restricted to paying Staff wages (4785) (4920)
To Clergy Housing Fund from General Fund Creation of designated fund to maintain housing 800
From General Fund to Clergy Housing Fund Creation of designated fund to maintain housing (800)
From Mission Development Fund to General Fund Investment income used to support General Fund 3107
To General Fund from Mission Development Fund Investment income used to support General Fund (3107)
From Mission Development Fund to General Fund Previous years' income to support General Fund 8299
To General Fund from Mission Development Fund Previous years' income to support General Fund (8299)
To Fabric Fund from M J Walker Hymn Fund Dormant Fund merged with Fabric Fund 542
From M J Walker Hymn Fund to Fabric Fund Dormant Fund merged with Fabric Fund (542)
__ ______
Total Transfers 0 0
======= =======
St Peter's 2021 2020
£ £
From General Fund to Daphne Swatman Fund Tithed giving to support Westgate activities 1000
To Daphne Swatman Fund from General Fund Tithed giving to support Westgate activities (1000)
From General Fund to Clergy Housing Fund Creation of designated fund to maintain housing
To Clergy Housing Fund from General Fund Creation of designated fund to maintain housing
From General Fund to Love Gift Fund Tithed giving to support Love Gift Fund 600 600
To Love Gift Fund from General Fund Tithed giving to support Love Gift Fund (600) (600)
From General Fund to People in Immediate Need Tithed giving for People in Immediate Need Fund 600 600
To People in Immediate Need from General Fund Tithed giving for People in Immediate Need Fund (600) (600)
From Social & Fellowship to People in Immediate Need Repurposing of donations agreed by donors 783
To People in Immediate Need from Social & Fellowship Repurposing of donations agreed by donors (783)
__ ______
0 0
======= =======

Thomas Clarkson Centre (formerly Hyndman Centre)

There were no transfers between funds of the Thomas Clarkson Centre or from or to those funds involving other Parish Funds in 2020 or in 2021.

17

Notes to the Financial Statements (continued)

For the year ended 31 December 2021

10 Fixed assets for use by PCC 10 Fixed assets for use by PCC St Mary's
£
General
Office
Equipment		 Projector Audio Visual
Equipment		 Copier Total
Cost At 31 December 2020 1767 6695 0 2645 11107
Additions 0
Disposals 0
Cost At 31 December 2021 1767 6695 0 2645 11107
==== ==== ==== ==== ====
Accumulated depreciation At 31 December 2020 1767 6695 0 1983 10445
Charge for year 662 662
Depreciation on disposals 0
Accumulated depreciation At 31 December 2021 1767 6695 0 2645 11107
==== ==== ==== ==== ====
Net Book Value At 31 December 2021 0 0 0 0 0
==== ==== ==== ==== ====
Net Book Value At 31 December 2020 0 0 0 662 662
==== ==== ==== ==== ====
St Peter's
£
Chairs Audio Visual
Equipment		 Copier Total
Cost At 31 December 2020 9419 0 1323 10742
Additions 0
Disposals 0
Cost At 31 December 2021 9419 0 1323 10742
==== ==== ==== ====
Accumulated depreciation At 31 December 2020 9419 0 993 10412
Charge for year 330 330
Depreciation on disposals 0
Accumulated depreciation At 31 December 2021 9419 0 1323 10742
==== ==== ==== ====
Net Book Value At 31 December 2021 0 0 0 0
==== ==== ==== ====
Net Book Value At 31 December 2020 0 0 330 330
==== ==== ==== ====
Thomas Clarkson Centre
£
2021 2020
Property at valuation At 31 December 2012 & 2013 250000 250000
Expenditure of Development to 31 December 2009 21776 21776
Expenditure of Development Y/E 31 December 2010 104934 104934
Expenditure of Development Y/E 31 December 2011 185375 185375
Expenditure of Development Y/E 31 December 2012 7714 7714
Expenditure of Development Y/E 31 December 2013 3800 3800
______ ______
Valuation and development expenditure at end of year 573599 573599
======= ======

The Clarkson Centre has been included at a valuation as at 31 December 2005 together with expenditure on work on the extension to the Centre. The valuation was carried out by Tony Redman, MA, BSc, FRICS, IHBC. His qualification to carry out this valuation is as a partner in the firm of Whitworth Co-Partnership, Chartered Architects and Surveyors.

The basis of valuation is to value the PCC's freehold interest in the School Unit, car park and orchard at Hospital Road Bury St Edmunds on a "value in use" basis. The valuation excludes the consecrated ground and the structure of St Peter's Church. It recognises that the use of the site is limited to any ecclesiastical purpose affecting the parish and any purposes in connection with educational schemes for providing facilities for the spiritual moral and physical training of persons residing in or near the parish. The title to the site is held as custodian trustee by the Diocesan Board of Finance.

There are no surviving records of the historical cost of this site.

It was not valued prior to 2005, since, under SORP 1995, it has been excluded from the Balance Sheet by reason of its having been regarded as an "historic asset".

Depreciation has not been charged in respect of the Thomas Clarkson Centre. This is in the context of the potential depreciation charge and the accumulated depreciation not being material because the estimated residual value of the asset is not materially different from the carrying amount of the asset. The asset has been subject to an impairment review. That review has concluded that the net realisable value is not lower than the net book value.

18

Notes to the Financial Statements (continued)

For the year ended 31 December 2021

11 Investments - fixed assets
St Mary's 2021 2020
£
 £
Endowments at market value 54785 47928
General Fund assets
- Central Board of Finance at market value (cost £1406; 2020 £1406) 32925 28805
Chancel Repair assets at market value
- St Edmundsbury and Ipswich DBF 10482 10240
Rae portfolio at market value
- Central Board of Finance Investment Fund (cost £101503; 2020 £101503) 223846 195832
__ __
322038 282805
======= =======
Croasdale and Fabric Committee portfolios at market value
- Central Board of Finance Investment Fund (cost £15453; 2020 £15453) 32803 28698
Mission Development portfolio at market value
- Central Board of Finance Fixed Interest Fund (cost £9447; 2020 £9447) 8854 9485
- Central Board of Finance Investment Fund (cost £54764; 2020 £54764) 108575 94987
Porter portfolio at market value
- CBF Investment Fund (cost £71487; 2020 £71487) 102136 89354
______ ______
252368 222524
======= =======
St Mary's: for Fabric Fund
Fursland CBF portfolio (original value £163,996; 2020 £163,996) 248953 217796
______ ______
248953 217796
===== =====
12 Investments
St Peter's 2021 2020
£
 £
Fabric portfolio at market value
- Central Board of Finance Investment fund (cost£100,000; 2020 £100,000) 166108 141320
===== =====

13 Debtors

St Mary's St Peter's St Mary's St Peter's Thomas
Clarkson		 Parish Parish
Centre 2020
Tax recoverable:
restricted funds 660 660 390
unrestricted funds 0
Mission collections 0 553
Prepayments 394 394 442
Amounts due from other
parts of Parish 0 0
Other debtors 1965 1078 3043 1881
______ _ _ ______ ______
3019 0 1078 4097 3266
====== ======= ====== ====== ======
14 Current liabilities
St Mary's St Peter's Thomas
Clarkson		 Parish Parish
Centre 2020
Creditor restricted funds:
Mission collections 1721 781 2502 3210
Fabric 1048 1048 1137
Other 0 0
Creditor fees 0 0
Accruals & deferred income 14935 20673 35608 24138
Amounts due to other
parts of Parish 0 0
Other creditors 3626 200 3826 3522
______ _____ _____ ______ _____
21330 981 20673 42984 32007
====== ===== ====== ====== =====

19

Notes to the Financial Statements (continued) For the year ended 31 December 2021

15 Loans

No loans received from outside the PCC were outstanding at any time in the period of these financial statements

16 Analysis of Net Assets by Fund
St Mary's Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2020
£ £ £ £
Fixed asset investments
Endowments 54785 54785 47928
CBF Investments 32925 32925 28805
DBF Investments 10482 10482 10240
Rae portfolio 223846 223846 195832
Porter portfolio 102136 102136 89354
Tangible assets 0 0 662
Current asset investments
Croasdale & Fabric Committee 32803 32803 28698
CBF Mission Development portfolio 117429 117429 104472
Stock of guides, cards & books 967 967 1621
Debtors & prepayments 2359 660 3019 2941
CBF Deposit Fund balances 15187 64638 79825 79799
Bank balances & deposits 139123 79856 218979 218193
Creditors (18561) (2769) (21330) (19710)
_ _ ______ __ __
289429 511652 54785 855866 788835
Current asset investment
For St Mary Fabric Fund
Reginald Fursland portfolio
CBF Investment Fund 248953 248953 217796
CBF Deposit Fund balances 211 211 211
_ _ ______ __ __
289429 760816 54785 1105030 1006842
======= ======= ====== ======= =======
St Peter's Unrestricted Restricted Total Total
Funds Funds 2020
£ £ £ £
Tangible Assets 0 330
Bank balances & deposits 40730 206460 247190 265705
CBF Investments 166108 166108 141320
Debtors & prepayments 0 0
Creditors (981) (981) (1372)
_ _ __ __
40730 371587 412317 405983
======= ======= ======= =======
Thomas Clarkson Centre Unrestricted Restricted Total Total
Funds Funds 2020
£ £ £ £
Property 250000 250000 250000
Expenditure on development 323599 323599 323599
Bank balances & deposits 64254 64254 70727
Debtors & prepayments 1078 1078 325
Creditors (20673) (20673) (10925)
_ _ __ __
618258 0 618258 633726
======= ======= ======= =======

20

Notes to the Financial Statements (continued)

For the year ended 31 December 2021

17 Fund details
St Mary's
The unrestricted funds were designated as follows :
General furtherance of the mission of St Mary's
Surplus on CBF shares surplus on General Fund investment therefore available to supplement General Fund
Bells maintenance and refurbishment of the bells; dormant after 2011; balance transferred to
General Fund in 2021
Clergy Housing Fund fund to finance maintenance of Clergy Housing for areas not maintained by Diocese
Family Worship mission work associated with the Family Worship service; dormant after 2010; balance
transferred to General Fund in 2021
Heritage mission associated with the historic heritage of St Mary's; dormant
Mission Development financing of projects to advance the mission of St Mary's
Surplus on Mission surplus on Mission Development Fund investments therefore available to supplement
Development portfolio Mission Development Fund
Social & Fellowship internal and external mission
Sound maintenance and refurbishment of sound system
Tiddlywinks/Happy Hands work with young children & parents
The restricted funds consist of: The restricted funds consist of:
Choir Association to maintain and develop St Mary's Choir
Fabric Fund to maintain and improve the Church fabric
Flowers provision of flowers and floral displays
Friends of St Mary's financing of projects primarily associated with the fabric of St Mary's; dormant after
2017; balance transferred to Fabric Fund in 2021
MJ Walker Hymn Fund Donations arising from the use of the hymn written by the late Michael Walker;
dormant after 2019; balance transferred to Fabric Fund in 2021
Mission Fund collections on behalf of other church societies & secular charities
Organ Fund to renovate and improve the Church organ
Phoenix Folk Group Fund to bring music to the wider community
Projects Fund Projects to improve the environment for worship within St Mary's
Surplus on Fursland portfolio Surplus on investments held from 2011 for Fabric Fund therefore available to
supplement Fabric Fund
Surplus on Porter portfolio Surplus on Fabric Fund investments therefore available to supplement Fabric Fund
Surplus on Rae portfolio Surplus on Fabric Fund investments therefore available to supplement Fabric Fund
Surplus on DBF deposit to maintain and improve the Church fabric particularly the Chancel
Surplus on Croasdale
bequest & fabric stocks Surplus on Fabric Fund investments therefore available to supplement Fabric Fund

The endowment funds consist of :

Name Value (£) Valuation Date Endowment in favour of
Sayer bequest 33371 31/12/2021 Fabric
Plumpton bequest 10163 31/12/2021 Organ
Raingate Street charity 4075 31/12/2021 General/Mission Development
Chancel Repair Fund 5737 31/12/2021 Fabric/insurance
J Sutton 432 31/12/2021 General
St Mary's Estate 749 31/12/2021 General
Lady Rivers Charity 258 31/12/2021 General

Though St Mary's receives the income on the Sayer Bequest, Plumpton bequest and Raingate Street Charity, and is entitled to the income on the Chancel repair fund, the capital is held by the Diocesan Board of Finance, as custodian trustee who hold the capital in the form of shares in the Central Board of Finance Investment Fund. St Mary's PCC holds the capital of the J Sutton, St Mary's Estate and Lady Rivers Charity in the form of shares in COIF Charities Investment Fund, shares in the CBF Investment Fund and shares in the CBF Investment Fund respectively. These are all permanent endowments which the PCC is not permitted to realise.

21

Notes to the Financial Statements (continued)

For the year ended 31 December 2021

17 Fund details (Continued) St Peter's

The unrestricted fund consists of : General furtherance of the mission of St Peter's Clergy Housing Fund fund to finance maintenance of Clergy Housing for areas not maintained by Diocese Daphne Swatman Mission Fund bequests and donations for the development of mission This fund was characterised prior to 2013 as a Restricted Fund In 2016 this fund was renamed and absorbed the balance of the formerly named Mission Development Fund

The restricted funds consist of: Little Fishes (Toddler Group) work with young children & parents Love Gift Fund giving a gift that is not urgent or essential but an expression of God’s love, expressed through His church Mission Fund collections on behalf of other church societies & secular charities Fabric Fund to maintain, reorder and improve the Church fabric In 2016 this fund was renamed and absorbed the balance of the formerly named Reordering Fund Surplus on Fabric portfolio Surplus on Fabric Fund investments therefore available to supplement Fabric Fund People in Immediate Need giving relief to people in immediate need Social & Fellowship internal and external mission

Thomas Clarkson Centre

The unrestricted fund consists of: General letting and investment income and running costs The restricted fund consists of: Appeal for equipment Special appeal for equipment and expenditure on that equipment

18 Bequests

The total bequests and donations in memoriam for the year were as follows

2021 2020
£ £
St Mary's St Peter's Parish Parish
Restricted and Designated Funds
including Fabric Fund
Dennis Newton 1000 1000 0
Unrestricted Funds
_ _ ______ _
1000 0 1000 0
======= ======= ====== ======

19 Grants made and collections paid to others

The following grants were made to other organisations and individuals

2021 2020
£ £
St Mary's
from restricted funds 3098 5662
from unrestricted funds 13407 9556
---------- ----------
total 16505 15218
===== =====
St Peter's
from restricted funds 8081 7952
from unrestricted funds 6188 5224
---------- ----------
total 14269 13176
===== =====
Parish total 30774 28394
===== =====

22

Notes to the Financial Statements (continued)

For the year ended 31 December 2021

19 Grants made and collections paid to others (Continued)

The recipients of these grants were as follows:

2021 2020
St Mary's St Peter's Parish Parish
£ £
A2B (Aid to Balkans) 5 1263 1268 1000
BCY 595 1203 1798 1870
Bury Drop In Centre 595 40 635 205
Bury Town Pastors 200 1223 1423 200
Children's Society 0 50
Churches Together 60 60 120 120
Covid-19 Appeal 0 843
Dignity Freedom Network 1623 1623 871
DOXA 1333 1333 1045
Embrace the Middle East 0 45
Ethiopia Appeal 33 33 553
Family & Community Network 0 250
Global Hope 1109 1109 0
Leprosy Mission 439 439 650
Montgomery Heights 1998 1998 1725
Open Doors 1221 1221 1170
RAF Benevolent Fund 230 230 26
Royal British Legion 616 25 641 28
St George's Day 0 0
SIM/Fifields 6540 6540 5760
SIM/How will they Hear 1303 1303 1100
Simeon/Hyndman Trustees 88 88 176 176
Sporting 87 595 595 870
Storehouse 43 7214 7257 8757
Tanzania Church Partnership Association 0 78
Tearfund 511 517 1028 870
Water for Africa 4 4 132
Other 0
--------- --------- --------- ---------
16505 14269 30774 28394
====== ===== ====== ======

23

Notes to the Financial Statements (continued)

For the year ended 31 December 2021

20 Restatements made to 2020 financial statements

No restatements were made to the statutory financial statements

21 PCC responsibilities for repair

No general provision has been made in the accounts for liabilities to maintain the Church buildings.

At St Mary's the church architect has carried out the five-yearly condition survey of the church. The report shows that the building is in generally good condition for its age and size but there will be approximately £70,000 of repairs needed over the next 5 years. It is hoped to start during 2022 with a series of repairs to the stonework and some roof repairs, costing approximately £30,000 in total. Investigations have been carried out into replacement of parts of the sound system, including the speakers, to improve sound quality around parts of the church. A final decision has yet to be made but could involve expenditure of up to £20,000.

A quinquennial inspection of St Peter's church is due to be carried out March 2022. We are aware of some minor repairs necessary to the cast iron guttering, porch external door, external vestry door and the need to replace the stone threshold to the west door. There are long term plans for an extension to the side and rear of the church. The expected cost is around £750,000, half the funds being currently available.

Work was completed in 2013 on a major scheme affecting the structure of the Thomas Clarkson Centre. Further refurbishment and security work was carried out in 2019 and further smaller refurbishment in 2021. Further refurbishment is expected in future years dependent on available resources.

22 Material transactions with members of the PCC

Other than the remuneration and benefits referred to in note 7 above, there have been no material transactions undertaken in the name of or on behalf of the PCC in which any person connected with the PCC has a material interest. The total income donated by members of the PCC amounted to £32,127. This amount does not include recurrent recoveries of tax under the Gift Aid provisions, which are estimated to amount to £8,032 .

23 Remuneration of auditor/independent examiner

Robin Jackson, director of Churchgate Accountants, Bury St Edmunds has acted as independent examiner of the 2020 financial statements.

These statements contain a cost of £200 in respect of Independent Examination of the 2020 financial statements and report and a provision of £200 in respect of Independent Examination for 2021. In both cases the £200 was the net cost to the PCC; that net cost was made up of a charge of £1,200, reduced by a donation of £1,000 to the PCC by the Independent Examiner.

No fees were paid to the independent examiner in respect of any other services rendered to the PCC.

24 Insurance of buildings

The insurance cover of the buildings and contents at January 2021 were as follows : St Mary's Church £36,400,000, St Peter's Church £5,800,000 and Thomas Clarkson Centre £2,900,000.

The valuations were based on surveys carried out in 2014 and include improvement work at the Thomas Clarkson Centre. Insurance cover is 100% of the valuations of St Mary's, St Peter's and the Thomas Clarkson Centre.

24