_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_
1
## **St. Mary's Church, Tenby Balance Sheet as at 31 December 2020**
_For use by the Rector and Wardens Only_
|**Notes**
**Fixed assets:**
Tangible assets
21
Investment in subsidiary
22
Unlisted Investments
23
_Total Fixed assets_
**Current assets:**
Debtors and prepayments
44,834
Cash at Bank
221,034
_Total Current assets_
265,868
**Liabilities**
Creditors; Amounts falling due within one year
Accrued Expenses & Income in Advance
10,683
Other liabilities - due to other churches
985
_Total Current liabilities_
11,668
_Net current assets_
**_Total Net assets_**
**£**
**The funds of St. Marys Church:**
**_General Fund_**
Balance at start of period
Net Movement in Funds
**_Total Charity funds_**
**£**|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_
2
**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.
3
_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)|
4
_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|
5
**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|
6
**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_
7
## **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_
8
## **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…………………….
9