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2020-12-31-accounts

Trustee’s Annual Report and

Financial Report of the Parochial Church Council of the Ecclesiastical Parish of Cheshunt St Mary for the year ended 31st December 2020

The Church of St Mary the Virgin Cheshunt Churchgate, Cheshunt, Herts, EN8 9NB.

HMRC reference number: X94190

Contents:

Trustees’ Annual Report 2-9 Financial Review 10-13 Independent Examiner’s Report 14-15 The Financial Report 16-20 Notes To The Financial Report 21-26

Website: www.achurchnearyou.com/church/7854/ Facebook: www.facebook.com/StMaryCheshunt

Team Vicar: The Revd Eugene Hanshaw, The Vicarage, Churchgate, Cheshunt, Herts, EN8 9DY

Church Wardens: Mrs Angela Corlett, Mrs Victoria Clarke,

Independent Examiner: Stephen Sell FCCA

Bankers: Barclays Bank and CCLA Investment Management Ltd

1

Trustees’ Annual Report for 2020

Our aims and purposes as a charity

The PCC of St Mary’s has the responsibility of co-operating with Revd Eugene in promoting the whole mission of the Church, pastoral, evangelical, social and ecumenical

The purpose of our charity is to promote the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England, obeying Christ’s two commandments ‘ You shall love the Lord your God with all your heart, and with all your soul, and with all your mind, and with all your strength ........ You shall love your neighbour as yourself.’ Mark 12.30-31a.

• Our key aims can be divided into four areas: Leadership, Fabric, Worship and Community.

Leadership : to Manage parish affairs responsibly Fabric : to care for St Mary’s Church as a place of worship, historic monument and community resource; to provide a hospitable welcome for worshippers and visitors Worship: to worship reverently, inclusively and accessibly; to grow in understanding and experience Community: to communicate our ministry and services effectively; to serve our local community; to offer support beyond our parish boundary

Objectives and Activities

For 2020 we discussed and planned the following objectives and activities to fulfil our aims:

Leadership:

Apply to receive an Assistant Curate-in-Training from 2021 Appoint a new treasurer

2

Fabric:

Continue repairs and maintenance to the church fabric following the 2019 Quinquennial Report

Worship:

Hold further services designed to encourage families Provide opportunities for Christian study

Develop and implement a new Mission Action Plan

Community

Continue to build closer ties with the local church primary and secondary schools

Continue to provide help for those in need

Achievement and performance

What we achieved and how we affected beneficiaries’ lives

LEADERSHIP

Cheshunt is a large parish with diverse population. The socio-economic makeup of the parish is mixed, with much hidden, and not so hidden poverty.

The parish was in vacancy for over two years, with a new Team Vicar appointed in July 2019, with an electoral roll of 87 at the end of the year. A relatively small number of mostly volunteers make possible the benefit which our charity offers to others.

Assistant Curate-in-Training from 2021:

We are delighted that our application was successful, and that Mark Escott will, upon completion of his training with the Eastern Region Ministry Course, be ordained, appointed and licensed to our parish on 26 June 2021.

Appoint a new Treasurer:

Our Treasurer had given notice in 2019 but continued to provide support temporarily until a new Treasurer is found, for which the PCC is grateful.

We are still searching for our new Treasurer. It is our hope to appoint a new Treasurer during 2021. Our thanks go to our current Treasurer for continuing to fulfil this vital role.

Online giving was established during 2020 using the SumUp ‘Give a Little’ web portal. There are direct links from the church Facebook page and ‘A Church Near You’.

3

A debit/credit card reader was purchased to make giving to St Mary’s easier, as well as it being easier to pay fees for weddings.

FABRIC

We are blessed with a beautiful historic church built on ancient foundations. This carries a responsibility to preserve its fabric for effective use, both today and into the future. We take this responsibility seriously, mindful of the benefit to the community that the church building provides.

Full details of work carried out and inspections undertaken are provided in the PCC report.

WORSHIP

Welcome:

St Mary’s Church interior is a holy space set apart for peaceful reflection and prayer. During a difficult year, and with churches having to close at various times in the year due to restrictions to try to limit the transmission of Covid19, St Mary’s has opened when it can, offering a space of quiet reflection and prayer.

A wide range of parishioners contribute to our welcome and the enhancement of our worship, including arranging flowers, ringing bells, cleaning, singing, playing music and assisting with our church services. Since March 2020 some of these activities have been curtailed due to the ongoing pandemic.

Services:

At the beginning of 2020 Eucharists were held Sunday mornings at 8am and 10am, Tuesdays at 7.30pm (BCP) and Thursdays at 11am until Coronavirus restrictions were enacted in March 2020. In June the church opened for short periods of private prayer twice a week.

Once churches were able to resume services, St Mary’s services were held on Sundays at 10am and Thursdays at 11am only. This decision was taken to avoid the need for the deep clean that would be required if services were held within 72 hours of the church last being used. At all times the appropriate measures were taken to ensure that the church was COVID compliant.

Since April 2020 a Eucharist has been live streamed either from the Vicarage or Church and this has continued once churches were able to reopen. Evening Prayer has also been live streamed on the St Mary’s

4

Facebook page for six days a week from April until September 2020, and then two days a week thereafter.

Our average attendance on Sundays in October 2020 was 36, down from 73 in 2019. This was due to the pandemic and the church having to close for long periods during lockdown.

Viewing figures for the live stream of our Sunday services are usually more than 100. Services at Easter were unable to take place due to the national lockdown. Our Christmas Day service was attended by 42 people, although the service was viewed over 1500 times on the St Mary’s Facebook page.

In January the church hosted the Hertford County Association of Change Ringers ADM which was preceded by a short service and had 28 people in attendance.

Once the first lockdown ended, we were able to welcome Dewhurst St Mary Primary School into church for their Year 6 Leavers Service. Due to Coronavirus restrictions only the children and their teachers attended the service with 31 in attendance.

Our service for All Souls was attended by 21 people, but sadly, due to the second national lockdown we were unable to join together on Remembrance Sunday.

During the year 12 funerals took place in church, along with 3 weddings, and 9 baptisms.

Services designed for families:

Sadly, due to the pandemic and associated restrictions no progress was made with this priority during 2020.

Study:

Studying together may be considered an extension of worship. Our parish values opportunities to learn and deepen faith and spirituality.

There was a Cheshunt Team Ministry Lent course during 2020 which used the film Casablanca as its inspiration. This was well attended by people from across the four parishes of the Cheshunt Team Ministry. Unfortunately, this course remains unfinished as it was interrupted by the first national lockdown.

A weekly study course began in the Autumn of 2020. Zoom was utilised so that a group could meet together despite restrictions on meeting face to face. The group have studied the book of Genesis together and are keen to continue meeting on Zoom.

5

The Advent Course was conducted on Zoom using the study guide ‘A Strange Christmas’ by Krish Kandiah.

Mission Action Plan:

Harry Steele a St Albans Church Growth Officer attended a PCC meeting in March, with various exercises to help the PCC think about where the church was and where it wanted to be. However, due to the restrictions, it was not possible to build on this start.

COMMUNITY

Communication:

To communicate Christian values and serve community both locally and further afield we aim to provide an effective communication network.

During 2020 the monthly church newsletter, which had previously been distributed at church services, moved on-line, being sent to all those who had provided an e-mail address on the electoral roll. Subsequently further names were added to the circulation list and individuals were encouraged to forward the newsletter to anyone they considered would be interested. Hard copies were distributed where possible. In this way it was hoped to keep in touch with as many people as possible.

St Mary’s now has a regularly updated ‘A Church Near You’ page which provides information on church services, events, how to arrange a wedding/baptism/funeral, and contact details.

The church has established a presence on social media with a St Mary’s Facebook page. This page is used to distribute information regarding church activities, as well as live streaming Evening Prayer and Sunday services. This page is viewed by many people in the wider Cheshunt community and beyond, and many people join our Sunday services who would otherwise not be able to access church.

The church “Whats App” group has provided a circle of prayer and support that has been much in use throughout the lockdowns.

Building closer ties with the local church primary and secondary schools:

This has been a challenge during 2020. Revd Eugene would normally lead Collective Worship at Dewhurst St Mary Primary School once a fortnight, and monthly at St Mary’s CE High School. He has been able to help with Collective Worship via Zoom. At both schools this has been providing times of reflection and prayer for the main Christian Festivals.

6

At St Mary’s CE High School Revd Eugene has been able to go into school during lockdowns and spend some time with the Headteacher, staff, and students who were in school and provide pastoral support during a difficult year.

Revd Eugene has also provided support over the phone to staff and families of students who have experienced family bereavement during the year.

Revd Eugene is a Foundation Governor at both schools, while three members of the St Mary’s congregation are Foundation Governors at St Mary’s CE High School, one being the Chair of Governors. Students from St Mary’s CE High School gave boxes of gifts and Christmas cards to many members of the church congregation. Many who received gifts have written letters of thanks to individual students.

Continue to provide help to those in need:

The Christian community stretches beyond parish boundaries out into the world. The parish continues to support the Broxbourne Food Bank by providing a collection point in church, as well as two of our congregation helping at the Foodbank. The parish also contributed financial support to the St Albans Diocese Harvest Appeal, the Children’s Society, Crisis and the Goa Anglican Centre.

Through a lease agreement with B3 Living, Church House continues to provide eight flats for rent, to tenants of the housing association.

Aims and objectives for 2021

For 2021 the following objectives and activities to fulfil our aims are planned:

Leadership:

Fabric:

7

Worship:

Community:

Structure, governance and management of the charity:

The PCC of the Ecclesiastical Parish of St Mary the Virgin Cheshunt is a registered charity no 1134781

Its governing document is the Parochial Church Councils (Powers) Measure 1956.

During the year the following served as members of the Parochial Church Council:

Ex Officio members

Incumbent: The Revd Eugene Hanshaw

Wardens: Mrs Victoria Clarke, Mrs Angela Corlett (Lay Vice-Chair)

Elected Members

Ms Angela Dronyi Mrs Marion Hoare Mr Christopher Isham

Mrs Sandra Harley (Until October 2020) Mrs Patricia Defoe (Until October 2020) Mrs June Haynes (Until October 2020) Mrs Cilean Blanchard (Until October 2020) Mr Terry Hoare (Until October 2020)

Co-opted Members

Mrs Patricia Higgins

8

Safeguarding Officer

Mrs Victoria Clarke

Deanery Synod

Mr Geoffrey Parks Mrs Elizabeth Sugg

Membership of the PCC is determined under the Church Representation Rules and consists of certain ex-officio members (the incumbent/priest-incharge, curate, lay readers licensed to officiate in the church, the churchwardens and members of the Deanery, Diocesan or General Synods) and nine members of the church who are elected at the Annual Parochial Church Meeting (APCM).

Members are warmly encouraged to stand for election to the PCC and we try to ensure a balance of skills and experience where possible.

Management of Risks:

The PCC notes the requirement to identify risks, which if ignored, may come to bear adversely upon the life of the Church of St Mary’s. These risks are not merely financial but include other concerns.

The PCC remains aware of the challenge to retain financial liquidity in order to maintain and develop the mission of the church, upkeep its historic church buildings and provide DDA compliant facilities for its members and those of the community. It is important to the church community that they are not merely maintaining a museum, but that the church should also be a place of vibrant worship of, and witness to God’s work across the whole of humanity, as well as being aware of the needs of the wider community and the building and worshipping community should be able to reflect these needs.

The Trustees to the best of their knowledge and belief, advise that there have been no serious financial incidents (as defined by the Charity Commission) during the year 2020 relating to our charity, which have not been brought to the attention of the Charity Commission.

9

FINANCIAL REVIEW

Financial Budget:

The budget set for 2020 would have resulted in a predicted deficit of £2553. However thanks to the church being the beneficiary of two legacies, other donations and the continued support of the congregation through standing order payments or the Parish Giving Scheme, a surplus of £35249 was achieved for the financial year.

Reserves Policy:

Reserves Policy was to retain a minimum of £30,000 in the Barclays Business Account to enable the church to meet financial commitments. A fall below this level would require a review of income/expenditure and potential draw down from reserve funds.

Reserve funds are invested in accounts with the CCLA Bank of which there are nine; designated or restricted, for specific funding purposes. Additional investments are made by the Diocesan Board of Finance on behalf of the church in to three further specific funds.

New Funding Initiatives:

Online giving was established during 2020 using the SumUp ‘Give a Little’ web portal. There are direct links from the church Facebook page and ‘A Church Near You’.

A debit/credit card reader was purchased to make giving to St Mary’s easier, as well as it being easier to pay fees for weddings.

Planned Giving:

The church is grateful to all those members of the congregation that have been able to support the church, by continuing to make a regular donation to the church collection, either by standing order payments or the Parish Giving Scheme. Having the benefit of regular payments affords the church better financial planning and management. Giving by these two methods has raised £37980 towards the church finances.

Stewardship:

Because of Corona Virus restrictions put in place during the year, it was not feasible to hold a stewardship campaign during the year.

Parish Share:

At the outset of the year the PCC had made a commitment to pay the Parish Share in full for 2020 and this was attained. This is a wonderful achievement, for which all associated with St Mary’s can be justifiably proud.

10

Properties: Church House

– ’ Curates House 4 Goff s Lane

Church Office (Portacabin)

Main Church Building

11

New Parish Centre

Current Financial Position:

Like many churches St Mary’s continues to be in a challenging financial positon. The generosity of the congregation past and present, has enable the church to pay it’s Parish Share in full for a second consecutive year and maintain its finances in a reasonable state. The viability of the church depends entirely on growing the congregation and fund raising events. During the year it was regrettably not possible to undertake any significant fund raising in support of the church finances. New fund raising initiatives were introduced to enhance the potential for collecting church donations. It is hoped that going forward, these initiatives will help provide a valuable source of additional income for the church. The Financial Report 2020 provides full account of the church finances.

During the year while in lockdown the church paid retainer fees to the regular church organists and the cleaner. During periods when the church was able open but organ music was limited due to restrictions in place, a reduced fee was paid.

Outlook for 2021 and beyond:

The financial outlook for the church in 2021 remains challenging. It is intended to try to pay the Parish Share in full for the year. This will obviously put a strain on the church funds, but it is important that we endeavour to meet this commitment. Hopefully as COVID restrictions are reduced, the church will be able to resume a full timetable of church services and fund raising activities to the benefit of St Mary’s.

While the church finances are supported by reserve funds, these are not finite. Once utilised, it will be difficult if not impossible to replenish these, requiring careful consideration of any future drawdown of funds.

The appointment of a Curate to the church commencing June 2021 means that the current tenant of 4a Goff’s Lane, will be required to vacate the property by the end of April, to allow the new Curate and family to move

12

in. A consequence of having a Curate join the church is that the rental income on the property will be reduced. This reduction will be partially offset by the Diocese reducing the Parish Share contribution made by the church. The church will be liable for general expenses incurred by the Curate on a weekly basis, in fulfilling his Curacy role.

Finance Team:

During the year because of the COVID restrictions put in place, it was decided to devolve all aspects of church finances, into the meetings of the PCC. Full financial disclosure and reports were provided to the members of the PCC by the church treasurer at scheduled meetings.

Gratitude:

The PCC would like to express its thanks to members of the congregation that have despite the challenging times, managed to continue to contribute to the church collection, either through standing order payments or the Parish Giving Scheme.

Thanks also to the ‘Friends of St Mary’s’ and the support they provide to the church.

The PCC would also like to express their sincere gratitude and thanks for the legacies bequeathed to the church by the late Alan Harmer and Patricia Smith. Thanks also to June Hendrickson for the significant donation made in memory of her sister Pamela and all other individual donations made by members of the congregation.

This Trustees’ Annual Report was approved by the PCC and signed on their behalf by

The Revd Eugene Hanshaw, Chair

……………………………………………………………Date…12th April 2021……………

13

INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, CHESHUNT, HERTFORDSHIRE

I report on the accounts of the PCC St Mary the Virgin, Cheshunt, Hertfordshire for the year ended 31 December 2020, which are set out on pages 16 to 26 of this Annual Report.

Respective responsibilities of the PCC and the examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the PCC and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as the PCC concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. Which gives me reasonable cause to believe that in any material respects the requirements:

  2. to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or

14

INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF ST MARY THE VIRGIN, CHESHUNT, HERTFORDSHIRE

  1. To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Stephen Sell FCCA

Dated

15

ST MARY THE VIRGIN CHURCH, CHESHUNT RECEIPTS AND PAYMENTS AS AT 31 DECEMBER 2020

MONEY IN
Church
Planned Giving via Standing Order
Planned Giving via Parish Giving Scheme
Cash collections at regular services
Other cash collections
Donations
Sumup/Easy Fund Raising
HMRC gift aid reclaimed
Cash collections charity specific
Wedding & funeral fees income
Church House
Church House Ground Rent
Curate's House
4a Goff's Lane rental income
General
Fund raising
Fund raising charity specific
Parish Holiday
Other receipts
Banking
Barclays reward
Interest & Dividend
Barclays Saver Interest
CCLA Interest
CBF Interest
Total money in		 Note
1
2
3
4
5
6
7
8
9		 Total
£
8,715
29,265
2,121
163
6,111
331
0
235
7,746
2,000
14,666
1,940
348
11,359
50,189
43
476
39
262
105
136,114		 Unrestricted
£
8,715
29,265
2,121
163
6,111
331
0
0
7,746
2,000
14,666
1,290
0
11,359
50,189
43
476
39
126
0
134,640		 Restricted
£
235
650
348
136
105
1,369

16

ST MARY THE VIRGIN CHURCH, CHESHUNT RECEIPTS AND PAYMENTS AS AT 31 DECEMBER 2020

MONEY OUT
Church
Parish Share
Wedding & funeral fee payments
Cost of organists at regular church services
Other costs to run regular church services
Clergy expenses
Salaries, Wages, Honoraria
Maintenance
Church energy & water bills
Payments to Charities
Banking
Barclays Commission
Portacabin
Portacabin energy & water bills
General
Admin & sundries
Insurance
Phone and Broadband
Photocopier
Parish Holiday
Other payments
Total money out
SURPLUS		 Note
10
11
12
13
14
15
16		 Total
£
53,489
3,429
1,530
692
3,310
4,949
2,719
3,705
457
325
2,945
551
4,438
1,708
1,164
6,085
4,096
95,591
40,523		 Unrestricted
£
53,489
3,429
1,530
692
3,310
4,949
2,719
3,705
457
325
2,945
551
4,438
1,708
1,164
6,085
4,096
95,591
39,048		 Restricted
£
0
1,369

17

ST MARY THE VIRGIN CHURCH, CHESHUNT COMPARISON OF RECEIPTS AND PAYMENTS WITH PRIOR YEARS

12
2018
MONEY IN
£
Church
Planned Giving via Standing Order
11,230
Planned Giving via Parish Giving Scheme
27,086
Cash collections at regular services
5,430
Other cash collections
2,308
Donations
3,904
SumUp/Easy Fund Raising
HMRC gift aid reclaimed
1,838
Cash collections charity specific
323
Wedding & funeral fees income
13,901
Church House
Church House Ground Rent
Curate's House
4a Goff's Lane rental income
4,555
General
Fund raising
1,506
Fund raising charity specific
983
Grants
8,378
Parish Holiday
20,725
Other receipts
2,979
Banking
Barclays Gen & Fees Reward
Interest & Dividend
911
Total money in
106,057
MONEY OUT
Church
Parish Share
18,436
Wedding & funeral fee payments
7,492
Cost of organists at regular church services
3,420
Other costs to run regular church services
490
Clergy expenses
1,630
Church Refurbishment
Maintenance
5,044
Church energy & water bills
4,972
Organ expenditure
388
Payments to Charities
1,055
Salaries, Wages, Honoraria
Banking
Barclays Gen & Fees Commission
Portacabin
Portacabin energy, water & other costs
12,390
General
Independent Examiner
60
Admin & sundries
8,846
Insurance
5,295
Photocopier
Phone & Broadband
Parish Holiday
21,396
Other payments
22,138
Total money out
113,052
SURPLUS/DEFICIT
-6,995		 12
2018
MONEY IN
£
Church
Planned Giving via Standing Order
11,230
Planned Giving via Parish Giving Scheme
27,086
Cash collections at regular services
5,430
Other cash collections
2,308
Donations
3,904
SumUp/Easy Fund Raising
HMRC gift aid reclaimed
1,838
Cash collections charity specific
323
Wedding & funeral fees income
13,901
Church House
Church House Ground Rent
Curate's House
4a Goff's Lane rental income
4,555
General
Fund raising
1,506
Fund raising charity specific
983
Grants
8,378
Parish Holiday
20,725
Other receipts
2,979
Banking
Barclays Gen & Fees Reward
Interest & Dividend
911
Total money in
106,057
MONEY OUT
Church
Parish Share
18,436
Wedding & funeral fee payments
7,492
Cost of organists at regular church services
3,420
Other costs to run regular church services
490
Clergy expenses
1,630
Church Refurbishment
Maintenance
5,044
Church energy & water bills
4,972
Organ expenditure
388
Payments to Charities
1,055
Salaries, Wages, Honoraria
Banking
Barclays Gen & Fees Commission
Portacabin
Portacabin energy, water & other costs
12,390
General
Independent Examiner
60
Admin & sundries
8,846
Insurance
5,295
Photocopier
Phone & Broadband
Parish Holiday
21,396
Other payments
22,138
Total money out
113,052
SURPLUS/DEFICIT
-6,995		 2019
8,945
26,984
6,177
3,121
10,674
5,254
943
14,555
2,000
14,336
6,995
136
3,000
14,257
12,948
102
1,022
131,450
53,814
9,228
3,180
779
3,567
11,955
10,820
6,158
398
694
6,544
512
860
100
1,919
4,646
1,368
15,125
7,717
139,384
-7,935		 £
%
-2,004
-5%
-2,958
-95%
-4,563
-43%
-5,254
-100%
-708
-75%
-6,809
-47%
0
0%
330
2%
-5,055
-72%
212
156%
-3,000
-100%
-2,898
-20%
37,241
288%
-59
-58%
-140
-14%
4,532
3%
-325
-1%
-5,799
-63%
-1,650
-52%
-87
-11%
-257
-7%
-11,955
-100%
-8,305
-77%
-2,453
-40%
-194
-49%
-237
-34%
-1,595
-24%
-187
-37%
2,085
343%
0
100%
-1,368
29%
-208
96%
-204
85%
1,708
-9,040
40%
-3,722
52%
43,793
-
48,325
Difference 2020 & 2019
£
11,230
27,086
5,430
2,308
3,904
1,838
323
13,901
4,555
1,506
983
8,378
20,725
2,979
911
106,057
18,436
7,492
3,420
490
1,630
5,044
4,972
388
1,055
12,390
60
8,846
5,295
21,396
22,138
113,052
-6,995
95,591
40,523

18

PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Barclays Unrestricted Income
Funds
General
Weddings & Funeral
Fees
Parish Holiday (HSBC)
Saver
Totals
CCLA Unrestricted Designated
Funds
General
Planned Major
Maintenance
Parish Holiday
Totals
CCLA Restricted Income
Funds
St Mary's Parish Centre
Special Funds
Youth
Belfry
Organ
Church Property
Junior Church
St Albans DBF managed
Restricted Deposit Fund
156 Churchgate Sale
Proceeds
Totals
TOTAL FUNDS
St Albans DBF managed
Endowment Funds
Church Chancel Fund
Church Fabric Fund
TOTAL FUNDS		 Opening
balance
1,000
500
1,060
24,782
27,341
9,321
17,147
6,868
33,336
22,160
1,990
1,989
3,091
366
1,254
382
24,750
55,982
116,659
2372
13484		 Receipts
116,599
7,750
11,315
39
135,703
40
75
44
159
95
20
8
13
2
8
2
105
253
136,114
71
405
476		 Receipts
116,599
7,750
11,315
39
135,703
40
75
44
159
95
20
8
13
2
8
2
105
253
136,114
71
405
476		 Payments
86,005
3,501
6,085
0
95,591
0
0
0
0
0
0
0
0
0
0
0
0
0
95,591
0
0
0		 Payments
86,005
3,501
6,085
0
95,591
0
0
0
0
0
0
0
0
0
0
0
0
0
95,591
0
0
0		 Transfers
-30,594
-4,249
-5,500
31,804
-8,538
0
1,200
5,500
6,700
350
0
0
0
0
1,500
0
0
1,850
12
71
405
476		 Closing
balance
1,000
500
790
56,625
58,915
9,361
18,421
12,412
40,194
22,606
2,010
1,998
3,104
367
2,762
384
24,855
58,085
157,194

2535
14415
15,855 476 0 16,950

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PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted funds are General, Fee and Saver, which are all used for the general running of the Parish. One Parish holiday fund is unrestricted and the other is restricted. Both are used for working capital for the annual holiday. Designated funds are the Deposit used for general reserves and the Planned Periodic Major Maintenance for major maintenance work. Restricted income funds are the New Parish Centre fund (formerly the Church House Refurbishment fund), the Special fund originally for expenditure mainly on altar front and nave altar, the Youth fund for capital spend on equipment and rooms, the Belfry fund for major work on the bells, and the Organ fund for engineering work on the organ.

Most restricted income has already been transferred to the appropriate restricted fund during 2020. The notes on pages 16 to 20 form part of these accounts.

Approved by the Parochial Church Council on 08 March 2021

And signed on its behalf by:

Mrs Angela Corlett (PCC Lay Co Chair / Churchwarden) Mrs Victoria Clarke (Church warden)

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PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Accounting basis and procedures

St Mary’s 2020 accounts have once again been produced on a Receipts and Payments basis, which is permitted for charities with an annual turnover less than £250,000. It should be noted that this accounting method only records the actual bank transactions in the calendar year and the bank balance at the end of the year. A deficit does not mean an overdraft.

Excel spreadsheets have been used to record online banking transactions, which are then reconciled with invoices, cheque stubs and weekly cash income records. The Data Developments system ‘MyGiving.online’ is used to claim gift aid from HMRC.

RECEIPTS

Income overall was up £4664 compared with 2019 largely due to a generous legacies left to the church by Alan Harmer and Pat Smith and a significant donation made by J. Hendrickson, as well as other donations made by members of the congregation. The Corona Virus pandemic has had a significant impact on the church revenue streams during the year, including wedding fees and fund raising activities, with receipts well below what might have been anticipated in a normal year.

1. Planned giving

Thanks go to all the congregation members that despite the challenging times, have managed to continue to contribute to the church collection, either through standing order payments or the Parish Giving Scheme.

2. SumUp/Easy Fund Raising

During the year, as a means of increasing potential financial contributions to the church funds, the church signed up to two new fund raising schemes. In general society is moving towards a cashless society and it was important that the church did not lose out on potential donations that might otherwise be made at church services and online. Accordingly the church purchased a SumUp card reader which allows donations to be made by card. Easy Fund Raising allows donations to the church to be made through a link on the church web page, within the ‘A Church Near You’ web portal and also via a link on the church Facebook page.

3. HMRC gift aid

Gift Aid for the year remains to be claimed during 2021.

4. Fund Raising

Despite the difficult circumstances some limited fund raising continued and thanks go to those individuals that organised and supported this effort.

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PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

5. Fund Raising Charity Specific

The church was able to undertake collections to support the ‘Bishops Harvest Appeal’ and ‘Crisis at Christmas’.

6. Other receipts

6. Other receipts
Candle Stand £262
Parish Breakfast £175
Thursday Refreshments £80
Wall Safe £51
Miscellaneous:
Insurance claim £82
J. Hendrickson £10,000_Donation_
Christ Church PCC £286_Funeral Fee_
CAF £25
P. Smith £3500_Legacy_
A. Harmer £33,825_Legacy_

7. Interest and Dividend

CBF Accounts Fabric & Chancel £476 Interest Total

8. CCLA Interest

CCLA Accounts Interest Total £262

9. CBF Interest

CBF Account Interest Total £105 Sale proceeds156 Churchgate

PAYMENTS

10. Parish share

The church paid the Parish Share in full for 2020, a truly wonderful achievement. This is the second consecutive year that the Parish Share has been paid in full. Unpaid Parish Share from previous years remains at £89,018.

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PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

11. Wedding & Funeral Fee Payments

These fees include payments to Organist, Verger and Bell Ringers as well as Parochial Fees paid to the Diocese.

Organist, Verger, Bell Ringer Fees £574 Parochial Fees £2855

12. Salaries, Wages and Honoraria

There were no payments made to PCC members as salaries. Any payments made would only be to reimburse costs incurred by them in the first instance, upon expenses for the running of the church and associated activities. Service on the PCC is voluntary. Paid staff costs are summarised as follows:

a) Cleaner: £616 fee paid to Mrs F. Metin

13. Maintenance

R & P Gibbs £160 PAT testing J. Scott & Sons £594 Servicing church heaters C.J.Jilks £205 Servicing Organ Herts CC £43 Cleaning products Barnett Locks £968 Relpacing lock and servicing safes D. Sulivan £750 Work to clear roof debris

14. Payments to Charities

Payments to charities comprised: Crisis at Christmas £300 Bishop of Hertford’s Harvest Appeal £157

15. Insurance

The Ecclesiastical Insurance Group provide all our insurance via a group scheme policy and our policies provide the following cover:

23

PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

16. Other payments

Other payments include the following:

Roof Alarm £739 Fire Protection £337 Independent Examiner £100 Miscellaneous payments: Beds & Herts H.C.T. £40 R.S.C.M. £107 Churches Together £65 M. Cooper £50 Organist leaving gift Signs of Cheshire £1308 New church sign Ben Hunter £1025 Plumbing at 4 Goff’s Lane Reimbursements £324 Payments to individuals

MONETARY ASSETS

17. Current accounts

The Barclays General Account is used to manage all church receipts and payments other than wedding and funeral fees and payments. The Fees Account with Barclays, is used to manage all wedding and funeral fees and payments. Both accounts are automatically linked to the Barclays Saver account to keep a working balance at the end of each day. The Parish Holiday Account is with HSBC.

18. Saver Account

This is a Barclays Account, which receives money automatically transferring from the Barclays General and Fees Accounts to leave a working balance in each account and earns a small amount of interest.

19. CBF Church of England Deposit Funds (CCLA)

Standing Orders with Barclays are used to deposit £125 monthly into the Church Property Account to fund potential maintenance and repair costs. A further £100 is deposited monthly into the Periodic Planned Major Maintenance Account.

20. Endowment Funds

The Chancel Fund investment represents a Permanent Endowment; this arose from the Tithe Redemption Commission in the 1940s to enable landowners with a liability for chancel insurance and repair to discharge their liability in a one-off payment. The restricted income is to be used towards the cost of insuring the chancel or towards the maintenance and repair of the chancel, church and churchyard. It is applied to the repair of the St Mary’s church fabric through a restricted fund. In 2020, total dividend income was £71 and was paid into the Barclays General account.

24

PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

The Fabric Fund investment represents a Permanent Endowment established by deed on 27 April 1932. The designated income is to be applied to the upkeep, repair or maintenance of the fabric of St Mary’s church through a designated fund, unless an alternative use is authorised by the Archdeacon of Hertford. In 2020, total dividend income was £405 and was paid into the Barclays General account.

Following the purchase of 4a Goff’s Lane the residue money from the sale of 156 Churchgate was invested by the Diocesan Board of Finance in a CBF Deposit Fund which is restricted. The trusts contained in the original conveyance provide that “until applied (for furthering the religious and other charitable work of the Church of England in the parish) they (the net proceeds) shall be invested by the Board and the income thereof shall be applied by the (PCC) for the like purposes. In 2020, total dividend income was £106.

The Doreen Nicholls Fund investment represents an Endowment established by gift in memory of the late Mrs Doreen Nicholls whereby the restricted income is to be used for books or music for worship in St Mary’s church. The PCC decided that due to the low amount of interest earned, the monies in this account would be better utilised in purchasing new hymn books and reprinting Orders of Service for the church. It was therefore agreed to permanently close the account. Proceeds of £1453 were received.

OTHER ASSETS

21. Freehold properties

In 2016 Church House was leased to B3Living for 49 years and redeveloped into eight flats for community use. The first tenants moved into during June 2019 and the flats are now fully occupied. A ground rent of £2000 is paid annually to the church, which will be reviewed after a period of five years. The current estimated value of the property is approximately £2,000,000.

In 2018 a new more modern curate’s house, 4a Goff’s Lane, was purchased and let from September 2018, until such time as it is required as accommodation for a curate. Monthly rental income of £1395 from the property provides a much needed source of income for the church. The property is managed by Paul Wallace Letting Agents, who charge 10% management fee. The current estimated value of the property is £400,000.

25

PCC OF ST MARY, CHESHUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

OTHER NOTES

22. Other Charities

Not under the control of the PCC and therefore omitted from the accounts is The Cheshunt Parish Charities. These charities are traditionally known as “The Churchwardens’ Charities”. The incumbent and churchwardens are trustees and their Annual Report and Accounts are available on request. The objects of the charities, some of which are ancient, are to support specific educational causes and those suffering hardship.

The Friends of St Marys is a separate registered charity which raises money for the upkeep and improvement of the church building.

26