THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Charity registration number 1135687
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
LEGAL AND ADMINISTRATIVE INFORMATION
Members Of The Parochial Church Mrs K Montgomery Council Mr I Rushton Mrs B Clews Mrs A Giller Mr S Whitworth Ms J Cookson Mrs D Emery Ms J Riding Mrs P Boak Mr C Asghar Mr K Oldfield Reverend L Atkins Mr G Jones Mrs J Jones Charity number 1135687 Independent examiner Champion Accountants LLP Unit 2 Olympic Court Whitehills Business Park Blackpool Lancashire FY4 5GU
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
CONTENTS
| Page | |
|---|---|
| Parochial Church Council Members' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 - 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 17 |
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
PAROCHIAL CHURCH COUNCIL MEMBERS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Members of the Parochial Church Council present their annual report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution , 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The objects of the church are to provide a place of worship for the community within the parish boundaries of Marton, St Paul, and to provide funeral, baptism and wedding functions as required by the community within those boundaries.
The Members of the Parochial Church Council have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The activities of the church during the year have been as stated above.
Achievements and performance
Details of the achievements and performance of the church are detailed in the appended Chair's Report.
Financial review
The continued effects of the Covid pandemic have had further consequences on the church finances due to ongoing restrictions and lower attendance numbers. The PCC has therefore continued to reduce expenditure where possible, and only essential costs have been incurred.
The PCC made payment of the reduced Parish Share for 2021 in full and have benefitted from the Diocese writing off £106,292 of the historic arrears. There are still significant arrears owing and the PCC continue to rely on the support of the Diocese, with no formal repayment terms attaching to this debt.
The financial statements show a surplus for the year of £ 151,301 (20 20 : deficit £ 15,128 ) although this includes the Parish Share written off and receipt of legacies of £36,015. Without these the surplus would be a modest £8,994, being a surplus on unrestricted funds of £12,655 and a deficit on restricted funds of £3,661 as prior years reserves were spent.
Further information is contained in the appended Chair's Report.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Members of the Parochial Church Council considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year and the Parochial Church Council is reliant on continued support from the Diocese in this respect.
The Members of the Parochial Church Council have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The church forms part of the Diocese of Blackburn. On 27 April 2010 it was granted charitable status in its
own right.
The Members of the Parochial Church Council who served during the year and up to the date of signature of the financial statements were:
- 1 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
PAROCHIAL CHURCH COUNCIL MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Mrs K Montgomery Mr I Rushton Mrs B Clews Mrs A Giller Mr S Whitworth Ms J Cookson Mrs D Emery Ms J Riding Mrs P Boak Reverend L Tomkinson (Resigned 30 April 2021) Mr C Asghar Mrs M Cottier-Brown (Resigned September 2021) Mr K Oldfield Reverend L Atkins Mr G Jones Mrs J Jones
The Parochial Church Council is elected annually by the members of the Church who are on the electoral role at the time. Council members are elected to serve for between one and three years before retiring and standing for re-election.
The Parochial Church Council is chaired by the church incumbent and is ultimately responsible to the Diocese of Blackburn.
The Parochial Church Council Members' r eport was approved by the Board of Members Of The Parochial Church Council.
..............................
Reverend L Atkins Vicar Dated: .........................
- 2 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
INDEPENDENT EXAMINER'S REPORT
TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
I report to the Members of the Parochial Church Council on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Saint Paul, Marton, Blackpool (the charity) for the year ended 31 December 2021.
Responsibilities and basis of report
As the Members of the Parochial Church Council of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Champion Accountants LLP
Unit 2 Olympic Court Whitehills Business Park Blackpool Lancashire FY4 5GU
Dated: .........................
- 3 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Current financial year | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | 2021 | 2020 | ||
| Notes | £ |
£ | £ | £ | £ | |
| Income and endowments from: | ||||||
| Donations and legacies | 3 | 38,225 | - | 1,077 | 39,302 | 15,222 |
| Other trading activities | 4 | 4,107 | - | - | 4,107 | 4,627 |
| Investments | 5 | 6,377 | - | - | 6,377 | 2,888 |
| Other income | 6 | 44,046 | - | - | 44,046 | 24,993 |
| Total income and endowments | 92,755 | - | 1,077 | 93,832 | 47,730 | |
| Expenditure on: | ||||||
| Raising funds | 7 | 956 | - | - | 956 | 227 |
| Charitable activities | 8 | (62,086) | 3,661 | - | (58,425) | 62,631 |
| Total expenditure | (61,130) | 3,661 | - | (57,469) | 62,858 | |
| Net movement in funds | 153,885 | (3,661) | 1,077 |
151,301 | (15,128) | |
| Fund balances at 1 January 2021 | (307,894) | 10,134 | 686 | (297,074) | (281,946) | |
| Fund balances at 31 December | 2021 | (154,009) | 6,473 | 1,763 | (145,773) | (297,074) |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| Prior financial year | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||
| funds | funds | funds |
|||
| 2020 | 2020 | 2020 |
2020 | ||
| Notes | £ | £ | £ |
£ | |
| Income and endowments from: | |||||
| Donations and legacies | 3 | 9,269 | 5,903 | 50 |
15,222 |
| Other trading activities | 4 | 4,627 | - | - |
4,627 |
| Investments | 5 | 2,886 | - | 2 |
2,888 |
| Other income | 6 | 24,993 | - | - |
24,993 |
| Total income and endowments | 41,775 | 5,903 | 52 |
47,730 | |
| Expenditure on: | |||||
| Raising funds | 7 | 227 | - | - |
227 |
| Charitable activities | 8 | 58,385 | 4,246 | - |
62,631 |
| Total expenditure | 58,612 | 4,246 | - |
62,858 | |
| Net movement in funds | (16,837) | 1,657 | 52 |
(15,128) | |
| Fund balances at 1 January 2020 | (291,057) | 8,477 | 634 |
(281,946) | |
| Fund balances at 31 December 2020 | (307,894) | 10,134 | 686 |
(297,074) |
- 5 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
BALANCE SHEET
AS AT 31 DECEMBER 2021
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Tangible assets | 12 | 8,075 | 9,501 | |||
| Investments | 13 | 1,778 | 1,694 | |||
| 9,853 | 11,195 | |||||
| Current assets | ||||||
| Stocks | 15 | 275 | 302 | |||
| Debtors | 16 | 711 | 223 | |||
| Cash at bank and in hand | 68,715 | 22,826 | ||||
| 69,701 | 23,351 | |||||
| Creditors: amounts falling due within | ||||||
| one year | 17 | (225,327) | (331,620) | |||
| Net current liabilities | (155,626) | (308,269) | ||||
| Total assets less current liabilities | (145,773) | (297,074) | ||||
| Capital funds | ||||||
| Endowment funds - general | 1,763 | 686 | ||||
| Income funds | ||||||
| Restricted funds | 18 | 6,473 | 10,134 | |||
| Unrestricted funds | (154,009) | (307,894) | ||||
| (145,773) | (297,074) |
The financial statements were approved by the Members Of The Parochial Church Council on .........................
..............................
Reverend L Atkins Trustee
- 6 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
The Parochial Church Council of the Ecclesiastical Parish of Saint Paul, Marton, Blackpool is an unincorporated charity.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's constitution, 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The accounts have been drawn up on the going concern basis, which assumes the continued support of the Diocese of Blackburn who are the major creditor. They have agreed to give extended credit on outstanding Parish Share payments due to them.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Members of the Parochial Church Council in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Resources expended are accounted for on an accruals basis inclusive of Value Added Tax, and have been classified under headings that aggregate all costs related to the category.
Governance costs include independent examiner fees and depreciation and are allocated to charitable activities.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings 15% per annum on net book value Fixtures, fittings & equipment 15% per annum on net book value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.9 Stocks
Stocks are stated at the lower of cost and estimated selling price.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 8 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
1.11 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Members of the Parochial Church Council are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 9 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
3 Donations and legacies
| Unrestricted Endowment funds funds general 2021 2021 £ £ Donations and gifts 2,210 1,077 Legacies receivable 36,015 - 38,225 1,077 |
TotalUnrestricted Restricted Endowment funds funds funds general 2021 2020 2020 2020 £ £ £ £ 3,287 4,269 5,903 50 36,015 5,000 - - 39,302 9,269 5,903 50 |
Total 2020 £ 10,222 5,000 15,222 |
|---|---|---|
- 10 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
4 Other trading activities
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Fundraising events | 4,107 | 4,627 | ||
| Investments | ||||
| Unrestricted | Unrestricted | Endowment | Total | |
| funds | funds | funds |
||
| general | ||||
| 2021 | 2020 | 2020 |
2020 | |
| £ | £ | £ |
£ | |
| Rental income | 6,290 | 2,790 | - |
2,790 |
| Interest receivable | 87 | 96 | 2 |
98 |
| 6,377 | 2,886 | 2 |
2,888 | |
| Other income | ||||
| Unrestricted | Unrestricted | |||
| funds | funds | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Other income | 44,046 | 24,993 | ||
| Raising funds | ||||
| Unrestricted | Unrestricted | |||
| funds | funds | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Fundraising and publicity | ||||
| Other fundraising costs | 956 | 227 | ||
| 956 | 227 |
5 Investments
6 Other income
7 Raising funds
- 11 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
8 Charitable activities
| 2021 £ Service costs 121 Housing expenses 3,551 Insurance 3,919 Light and heat 2,577 Repairs and maintenance 7,160 Postage and stationery 758 Telephone 438 Burial ground expenses 5,811 Sundry expenses 1,509 Donations to charity 598 Parish share 20,000 Parish share written off (106,292) (59,850) Share of governance costs (see note 9) 1,425 (58,425) Analysis by fund Unrestricted funds (62,086) Restricted funds 3,661 (58,425) For the year ended 31 December 2020 Unrestricted funds Restricted funds |
2020 £ 91 3,157 3,892 5,274 11,841 466 935 6,943 969 878 26,509 - 60,955 1,676 62,631 58,385 4,246 62,631 |
|---|---|
- 12 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
9 Support costs
| Support costs Governance costs £ £ Depreciation - 1,425 - 1,425 Analysed between Charitable activities - 1,425 |
2021 Support costs Governance costs £ £ £ 1,425 - 1,676 1,425 - 1,676 1,425 - 1,676 |
2020 £ 1,676 1,676 1,676 |
|---|---|---|
10 Members Of The Parochial Church Council
None of the Members of the Parochial Church Council (or any persons connected with them) received any remuneration or benefits from the charity during the year.
11 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
- 13 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 12 | Tangible fixed assets | |||
|---|---|---|---|---|
| Land and | Fixtures, | Total | ||
| buildings | fittings & | |||
| equipment | ||||
| £ | £ | £ | ||
| Cost | ||||
| At 1 January 2021 | 20,597 | 53,609 | 74,206 | |
| At 31 December 2021 | 20,597 | 53,609 | 74,206 | |
| Depreciation and impairment | ||||
| At 1 January 2021 | 19,492 | 45,214 | 64,706 | |
| Depreciation charged in the year | 166 | 1,259 | 1,425 | |
| At 31 December 2021 | 19,658 | 46,473 | 66,131 | |
| Carrying amount | ||||
| At 31 December 2021 | 939 | 7,136 | 8,075 | |
| At 31 December 2020 | 1,105 | 8,396 | 9,501 | |
| 13 | Fixed asset investments | |||
| Listed | ||||
| investments | ||||
| £ | ||||
| Cost or valuation | ||||
| At 1 January 2021 | 1,694 | |||
| Valuation changes | 84 | |||
| At 31 December 2021 | 1,778 | |||
| Carrying amount | ||||
| At 31 December 2021 | 1,778 | |||
| At 31 December 2020 | 1,694 | |||
| 14 | Financial instruments | 2021 | 2020 | |
| £ | £ | |||
| Carrying amount of financial assets | ||||
| Instruments measured at fair value through profit or loss | 1,778 | 1,694 |
- 14 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 15 Stocks Finished goods and goods for resale 16 Debtors Amounts falling due within one year: Prepayments and accrued income 17 Creditors: amounts falling due within one year Trade creditors |
2021 £ 275 2021 £ 711 2021 £ 225,327 |
2020 £ 302 2020 £ 223 2020 £ 331,620 |
|---|---|---|
18 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | |||||
|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | Resources | Balance at | |
| 1 January 2020 | resources | expended 1 |
January 2021 | expended | 31 December | |
| 2021 | ||||||
| £ | £ | £ | £ | £ | £ | |
| Legacy | 100 | - | - | 100 | - | 100 |
| Organ | 3,732 | - | (560) | 3,172 |
(476) | 2,696 |
| TV | 3,435 | - | (515) | 2,920 |
(438) | 2,482 |
| War Memorial | 1,210 | - | (15) | 1,195 |
- | 1,195 |
| Marton Burial Ground | - | 2,747 | - | 2,747 | (2,747) | - |
| Alarm Fund | - | 3,156 | (3,156) | - |
- | - |
| 8,477 | 5,903 | (4,246) | 10,134 |
(3,661) | 6,473 |
- 15 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
19 Analysis of net assets between funds
| Analysis of net assets between funds | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment |
Total | Unrestricted | Restricted | Endowment | Total | |
| funds | funds | funds |
funds | funds | funds | |||
| 2021 | 2021 | 2021 |
2021 | 2020 | 2020 | 2020 | 2020 | |
| £ | £ | £ |
£ | £ | £ | £ | £ | |
| Fund balances at 31 December 2021 are | ||||||||
| represented by: | ||||||||
| Tangible assets | 2,897 | 5,178 | - |
8,075 | 3,409 | 6,092 | - | 9,501 |
| Investments | 1,778 | - | - |
1,778 | 1,694 | - | - | 1,694 |
| Current assets/(liabilities) | (158,684) | 1,295 | 1,763 |
(155,626) | (312,997) |
4,042 | 686 | (308,269) |
| (154,009) | 6,473 | 1,763 |
(145,773) | (307,894) |
10,134 | 686 | (297,074) |
- 16 -
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT PAUL, MARTON, BLACKPOOL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
20 Related party transactions
There were no disclosable related party transactions during the year (2020 - none) .
Remuneration of key management personnel
No remuneration is paid to key management personnel.
- 17 -