2020-12-31-accounts - The Rectorial Benefice Of Tenby Parochial Church Council

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For use by the Rector and Wardens Only

St. Mary's Church, Tenby

Unaudited Accounts for the Year ended

31 December 2020

LHP Chartered Accountants

Note - These detailed accounts are not a part of the statutory accounts

St. Mary's Church, Tenby For use by the Rector and Wardens Only Summary Income and Expenditure Account for the year ended 31 December 2020

INCOME FROM: Note Donations and legacies 1 Church activities Fees (weddings, funerals etc.) 2 Other trading activities Money raising 3 Church House income 4 Investments Investment Income 5 Furlough Grant Commercial Trading Rentals 6 Rental Income 7 TOTAL INCOME EXPENDITURE ON: Raising Funds Investment management costs 8 Commercial Trading Rentals 6 Rental Expenses 7 Expenditure on Church activities: Support of Ministry Parish share and other Clergy 9 Parochial expenses of Clerics 10 Other Ministry 11 Parish Activities Maintenance of Services 12 General Parish Expenses 13 Church Property Maintenance of Churches 14 Maintenance of other property 15 Church House expenditure 4 Cemetery expenditure 2 Grants and Financial Support Mission - Parish 16 Mission - Home 17 Mission - World 18 Other Resources Expended Exceptional expenditure 19 Governance costs Professional fees TOTAL CHURCH ACTIVITY EXPENDITURE TOTAL EXPENDITURE Gains/(losses) on investment assets 23 NET INCOME/(expenditure) Transfers from Other Churches/Funds 20 Transfers (to) Other Churches/funds NET MOVEMENT IN FUNDS £	2020 £ 31,378 5,507 1,258 720 71,776 12,544 40,000 66,203 229,386 741 1,117 18,414 20,272 29,936 4,612 432 24,764 9,107 32,964 2,660 6,460 460 7,870 10,896 2,750 - - 132,911 153,183 7,672 83,875 - - 83,875 £	2019 £ 48,655 12,756 10,819 1,995 214,111 - 40,000 65,867
		394,203
		1,134 1,117 102,503
		104,754
		121,412 14,376 1,474 28,057 13,883 21,315 2,111 15,922 2,590 12,694 9,833 2,861 103,042 -
		349,570

		454,324
		25,471
		(34,650)
		- -
		(34,650)

Note - These detailed accounts are not a part of the statutory accounts

St. Mary's Church, Tenby Balance Sheet as at 31 December 2020

For use by the Rector and Wardens Only

44,834 221,034	2020 £ 144,327 1,000 285,179	36,605 145,749	2019 £ 151,699 1,000 272,543
	430,506 254,200		425,242 175,589
265,868		182,354
		4,714 2,051
11,668		6,765
£ £		£ £
	684,706		600,831
	600,831 83,875		635,481 (34,650)
	684,706		600,831
	684,706		600,831

Approval Statement

We approve the accounts which comprise of the Income and Expenditure Account, Balance Sheet and related notes. We ackonwledge our responsibility for the accounts, including the appropriateness of the applicable financial reposting framework, and for providing The Alexander Partnership (Accountants) Limited with all information and explanations necessary for their compilation.

Approved by the Church Council on …………………….., 2021 and signed on its behalf by:

…..................................................

Rector: Rev'd Canon A. Grace

…..................................................

R.Webb: Hon. Treasurer

Note - These detailed accounts are not a part of the statutory accounts

St. Mary's Church, Tenby Notes to the Accounts for the year ended 31 December 2020

1 Accounting Policies

Accounting Convention

The accounts have been prepared under the historical cost convention except for investments, and in accordance with the Church in Wales Accounting Regulations, 1997; Accounting and Reporting by Charities; Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16/7/14 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011 .

The Tenby Group of Churches is exempt from preparing group accounts under FRS102 and the accounts present information as an individual undertaking and on a going concern basis.

The Tenby Group of Churches constitutes a public benefit entity as defined by FRS102.

The presentation currency is £ sterling.

Fund Structure

Unrestricted general income funds - these are funds which can be used in accordance with the Church's objects at the discretion of the Rector and Church Wardens.

Restricted income funds - these are funds that can only be used for particular restricted purposes within the objects of the church, including the operation of churchyards.

Income recognition

Income, including legacies, grants and investment income, is recognised in the period in which the Tenby Group of Churches has entitlement to the receipt and so it is probable the income will be received and the amount of income can be measured reliably. Income from minor fund raising events are shown net of costs.

Expenditure recognition and allocation of costs

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Tenby Group of Churches to that expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably. Expenditure is accounted for on an accruals basis. All expenses, including support and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities. Expenditure includes irrecoverable VAT, as applicable.

Tangible Fixed Assets

Expenditure on fixed assets and/or their improvement is capitalised at cost and depreciated.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Freehold Buildings 2% or 4% straight line Fixtures, Fittings and Equipment 10%-33% straight line Motor Vehicles 25% reducing balance

The Church, Churchyard and other buildings are vested in the Representative Body of the Church in Wales, and do not form part of the assets of the Tenby Group of Churches.

Heritage and Inalienable Assets

In addition to the above, the Tenby Group of Churches owns freehold land and buildings and other assets, where the original costs are unknown. It is impractical to obtain a valuation of these previously non-capitalised assets due to their nature. These include certain Heritage assets of historical importance held for the advance the religious and preservation objectives of the Tenby Group of Churches

Investments

Investments (including property) are held on trust by the Representative Body for the Church in Wales. Tenby Group of Churches funds invested are stated at market value at the balance sheet date. The Income and expenditure account includes gains and losses arising on revaluation and disposals throughout the year.

Linked organisations

There are several linked small organisations, each of which hold their own funds. As they individually account separately to their membership(s), their respective income and expenditure has not been included in the Tenby Group of Churches 's results.

For use by the Rector and Wardens Only

St. Mary's Church, Tenby Notes to the Accounts for the year ended 31 December 2020

1 2 3 4	DONATIONS AND LEGACIES 2020 2019 £ £ Direct Giving Planned giving Envelopes 3,557 4,398 Subscriptions by Bankers Order 10,422 10,162 Church collections 1,570 10,192 Special Church Collections inc. Restricted 2,082 3,919 17,631 28,671 Indirect Giving Gift Aid tax Repayments 10,673 5,447 Legacies 65 100 Other Income Donations, Boxes and Gifts 2,009 6,347 Donations other churches - quota 1,000 7,284 Insurance Claim - St Julians - 806 3,009 14,437 TOTAL INCOME FROM DONATION AND LEGACIES £ 31,378 £ 48,655 INCOME FROM CHURCH ACTIVITIES 2020 2019 Fees £ £ Wedding and Funeral Fees 4,981 12,282 Churchyards Account - Restricted Ashes and Burial Fees 526 474 Deduct Expenditure Upkeep of Old Cemetery 460 2,590 460 2,590 Surplus/((deficit)) for the Year £ 66 £ (2,116) INCOME FROM OTHER TRADING ACTIVITIES Money Raising 2020 2019 £ £ Sale of Candles 1,006 7,700 Profit on Fete - 1,389 Events in Church 150 1,200 Sundry income 102 530 £ 1,258 £ 10,819 Church House Account 2020 2019 £ £ Income 720 1,995 Deduct Expenditure Cleaner and materials 135 2,549 Water rates 423 624 Insurance 996 980 Light & heat 3,771 5,752 Repairs and sundry expenses - 4,882 Depreciation 1,135 1,135 6,460 15,922 (Deficit) for the Year £ (5,740) £ (13,927)	2019 £ 4,398 10,162 10,192 3,919
		28,671
		5,447
		100
		6,347 7,284 806
		14,437

		2019 £ 1,995
		2,549 624 980 5,752 4,882 1,135
		15,922
		(13,927)

For use by the Rector and Wardens Only

St. Mary's Church, Tenby Notes to the Accounts for the year ended 31 December 2020

5 6 7 8 9 10 11	INCOME FROM INVESTMENTS 2020 2019 £ £ Income from Investments 5,755 7,585 St Mary's Fabric Fund Restricted - 55,356 Wayleaves 750 751 Interest on Bank Deposits 246 342 Interest Church Estates 25 77 6,776 64,111 Corporate Gift Aid - Rectory Cark Park (Tenby) Limited 65,000 150,000 £ 71,776 £ 214,111 Commercial Trading Activities 2020 2019 £ £ Car Park Account Rents 40,000 40,000 Corporate Gift Aid - Rectory Cark Park (Tenby) Limited 65,000 150,000 Deduct Expenditure Depreciation - car park kiosk 1,117 1,117 Surplus for the Year £ 103,883 £ 188,883 Rental Income 2020 2019 Church Estates £ £ Rents Received 66,203 65,867 Deduct Expenditure Insurance 1,671 2,132 Depreciation 3,221 3,221 Repairs and maintenance 3,120 87,199 Management expenses 10,402 10,148 Council tax - (197) 18,414 102,503 Surplus/(deficit) for the Year £ 47,789 £ (36,636) EXPENDITURE ON: Cost of fund raising 2020 2019 £ £ Investment management costs 741 1,134 Maintenance of Ministry 2020 2019 £ £ Quota to St David's Diocese 29,936 121,412 Parochial Charges 2020 2019 £ £ Parochial Expenses of Clerics inc Restricted 4,612 14,376 Other Ministry 2020 2019 £ £ Visiting Clergy 432 1,474	2019 £ 7,585 55,356 751 342 77
		64,111 150,000
		2019 £ 40,000 150,000
		1,117
		188,883
		2019 £ 65,867
		2,132 3,221 87,199 10,148 (197)
		102,503
		(36,636)
		2019 £ 1,134
		2019 £ 121,412
		2019 £ 14,376
		2019 £ 1,474

St. Mary's Church, Tenby Notes to the Accounts for the year ended 31 December 2020

For use by the Rector and Wardens Only

12 Maintenance of Services Altar and candles Salaries and National Insurance Organ expenses Choir expenses Services Books Flower Fund £ 13 General Parish Expenses Stationery, printing and music Telephone and internet Sundry expenses Wedding and Funeral Fees Paid Professional fees Depreciation Total General Parish Expenses £ 14 Maintenance of Churches Insurance - all churches Heat and Light Repairs, maintenance and cleaning Depreciation £ 15 Maintenance of Property Church grounds £ 16 Mission - Parish Other Mission Parish inc Restricted Caravan Holidays Youth club and Sunday School 17 Mission - Home Donations to organisations inc. Restricted 18 Mission - World World Charities inc. Restricted	2020 £ 438 23,278 210 363 175 300 24,764 £ 2020 £ 1,862 207 1,441 1,220 3,256 1,121 9,107 £ 2020 £ 4,767 7,814 19,605 778 32,964 £ 2020 £ 2,660 2,660 £ 2020 £ 6,870 - 1,000 7,870 2020 £ 10,896 2020 £ 2,750	2019 £ 2,656 20,566 880 2,436 419 1,100
		28,057
		2019 £ 4,335 244 1,542 4,056 2,585 1,121
		13,883
		2019 £ 3,838 8,730 7,969 778
		21,315
		2019 £ 2,111
		2,111
		2019 £ 7,045 3,000 2,649
		12,694
		2019 £ 9,833
		2019 £ 2,861

St. Mary's Church, Tenby Notes to the Accounts for the year ended 31 December 2020

For use by the Rector and Wardens Only

19 20	Exceptional expenditure West Window and door Restricted Church House Toilets Bell refurbishment Restricted TRANSFERS BETWEEN FUNDS: Transfers from Other Churches/Restricted Funds	2020 £ - - - - 2020 £	2019 £ 45,693 55,484 1,865
			103,042
			2019 £

Note - These detailed accounts are not a part of the statutory accounts

St. Mary's Church, Tenby Notes to the Accounts for the year ended 31 December 2020

For use by the Rector and Wardens Only

21 22 23	Tangible Fixed assets Freehold Property £ Cost At 1 January 2020 324,395 Additions - Disposals - At 31 December 2020 324,395 Depreciation At 1 January 2020 180,568 Charge for the year 5,116 On disposals - At 31 December 2020 185,684 Net book value At 31 December 2020 138,711 At 31 December 2019 143,827 Other fixed assets Investments - Rectory Car Park (Tenby) Limited Unlisted Investment- Church Investment Deposits Market Value At 1 January 2020 Income re-invested Management fee Unrealised gains/(losses) At 31 December 2020 Unlisted investments at cost	Furniture & fittings £ 53,423 - - 53,423 45,551 2,256 - 47,807 5,616 7,872 2020 £ 1,000 2020 £ 272,543 5,705 (741) 7,672 285,179 211,052	Total £ 377,818 - -
			377,818
			226,119 7,372 -
			233,491
			144,327
			151,699
			2019 £ 1,000
			2019 £ 240,836 7,370 (1,134) 25,471
			272,543
			207,605

The market value of the unlisted investments may have fallen since the year end. The Church Council do not consider these to be a permanent diminution in value.

Note - These detailed accounts are not a part of the statutory accounts

St. Mary's Church, Tenby

Chartered Accountants' report to Rector and Church Wardens For the year ended 31 December 2020

In accordance with your instructions, we have compiled these unaudited accounts, which comprise Income and Expendtiure Account, the Statement of Assets and, where relevant, the related notes, from the accounting records and information and explanations you have given to us.

The accounts have been complied on the historical cost basis of accounting. The financial information is not intended to achieve full compliance with the provisions of UK Generally Accepted Accounting Principles.

This report is made to you, in accordance with the terms of our assignment. Our work has been undertaken so that we might compile the accounts, report to you that we have done so, and to state those matters that we have agreed to state to you in this report and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you, for our work, or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute.

You have approved the accounts for the year ended 31 December 2020 and have acknowledged your responsibility for it, for the appropriateness of the accounting basis and for providing all information and explanations for its compliation.

We have not verified the accuracy or completeness of the accounting records or information and explanantions you have given to us and we do not, therefore express any opinion or any other form of assurance on the accounts.

……………………………………….

LHP Chartered Accountants

Tenby

Date…………………….