**CHARITY REGISTRATION NUMBER:** 

**1136970** 

## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS** 

**31 DECEMBER 2020** 

## **POWDIN & CO LIMITED** 

Chartered Accountants Hampshire House 204 Holly Road Aldershot Hampshire 

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GU12 4SE

# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **TRUSTEES' ANNUAL REPORT** 

## **YEAR ENDED 31 DECEMBER 2020** 

The trustees present their report and the audited financial statements of the charity for the year ended 31 December 2020. 

## **Aim and Purpose** 

The Parochial Church Council of the Parish of the Resurrection, Alton (PCC) comprises of 20  trustees  who  together  have  the  collective  responsibility  of  cooperating  with  the incumbent, the Reverend Andrew Micklefield, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.  The PCC is responsible  for  the  overall  running  of  the  Parish  and  complying  with  all  legal  and regulatory requirements that are placed upon it. 

We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and planning future activities.  The trustees carried out their duties and made decisions taking due regard of their obligation to exercise their powers for the public benefit.  Apart from serving their core religious purposes, the church premises are regularly used by local schools, colleges, pre-school groups, youth choir and other music organisations.  Concerts and other events are held which are attended  by  the  wider  local  community.   Contact  is  maintained  with  various  local organisations  to  provide  pastoral,  community  and  social  services for  the  young  and elderly.  The parish has an active 

engagement in various ways with the two Church of England primary schools in Alton. The parish is frequently involved in supporting major events in the town.  Clergy and other  members  of  the  church  participate  in  the  Alton  town  pastors  scheme  at  the weekends. 

This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help.  The review also helps us ensure our aims, objectives and activities remain focused on our stated purposes. 

## **Objectives and Activities** 

The year was dominated by the impact of the COVID-19 pandemic.  The PCC responded to this as follows: 

## **Main objectives for the year:** 

- Continue to, and develop new ways of delivering our services and support to the parish 

- Adjusting our ways of working to be safe during the COVID-19 pandemic 

- Maintaining tight control of our finances 

## **Strategies used to achieve our objectives:** 

- Implement  telephone  and  online  video  broadcasts  of  our  services  and  other activities 

- Greater use of email to inform our parishioners of the activities of the church 

- Update website using new modern software that makes it more attractive and intuitive 

## **What we did** 

- Followed all Government and Diocese safety guidance for dealing with COVID-19 

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- Implemented strict social distancing in all of our buildings when they were open 

- Staff and all volunteers worked from home 

- Learnt and made use of online media to broadcast our services and other activities 

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# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

# **YEAR ENDED 31 DECEMBER 2020** 

## **Objectives and Activities** (continued) 

- Promoted and encouraged greater use of the Parish Giving Scheme 

- Reduced all spending to a minimum wherever possible 

- Made online donations via our website made more prominent 

- Joined ‘Amazon Smile’ and ‘easyfundraising’ (online retailers that make a donation to chosen charities) 

## **Achievements and Performance** 

## **Report from the Vicar** 

I think it would be fair to say that 2020 has been an extraordinarily unusual year as we faced the largest global pandemic for some time.  Who knew that when the Government put us into lockdown on 23[rd] March that restrictions would be part of our lives for so long. We  need  to  make  mention  of the  tragic  loss of  lives,  the  many  who have  suffered physically and mentally and the isolation that we have all faced at different levels.  All of these and more will continue with us as we move forward.  I am all too aware also that there has been impact on our spiritual lives both positively and negatively.  The only way I have been able to get through this year has been by prayer and reading and reminding myself of the hope we have in Jesus Christ, I hope you can all say the same! 

The church has continued through all of the lockdown and restrictions and we have found ways in which to still communicate our hope and to offer services, pastoral care and support to the local community.  I am so very grateful to all of you for the ways in which you have made this true.  It has been a huge effort of working together and thank you. 

It has also been a time of learning new skills.  I had never heard of Zoom and now I spend most of my working life using it.  I had accessed Youtube but never had to record things and then upload them. Facebook was something I snook into occasionally but now I use it for praying with some of you.  Has it been the same for you?  I am really pleased that our Parish Administrators, Ellie and Philippa, have been alongside The Ministry Team providing all the technical support and wizardry necessary.  Both Ellie and Philippa have worked from home all year unstintingly and deserve a massive shout out – thank you both so much. 

The Ministry Team have met every week and often more to keep on top of the range of things we have been able to offer, to keep up with the latest COVID guidance, to support each other and to pray.  As always they have been a delight to work with, although we have all struggled with emotions along the way.  The level of support and dedication is amazing – I am so grateful to have such a team for such a time as this. 

The PCC have met regularly after an initial period of quiet and I am indebted to them for their wisdom and advice and also their level of support for me and the Ministry Team.  It has not always been easy as we have wrestled with buildings being closed, then open again successively and all the requisite rules and regulations.  Then there has been the close monitoring of our Parish finances for which we need to be ever so grateful to Colin Aiken and Tori Hewitt for overseeing. 

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## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

Two particular groups have been working hard on our behalf through this period.  First is the Eco Church Team who have kept up the pace so that we can apply for the Eco Church Awards.  Various communications have been available and if you read Sunrise you would not be able to miss our strive to be more environmental in approach. The second is the Futures Group which was commissioned to help us explore how we navigate our way back to ‘normality’ building on what we have learnt from our experiences of the year.  There will be more from them as conversation together becomes easier.  I am very appreciative of the time, effort and prayer that the team has put in.  Thank you Elspeth, Robin, Helen, Martyn and Matthew. 

A fascinating opportunity arose during the summer which has helped us to refocus our youth, children and family provision.  We are now in partnership with The Winchester Diocese  and  The  Kings  Arms  Youth Project to provide  ministry  to  Alton  College  and subsequently to other young people, children and their families.  The appointment of Martha Lloyd to a part-time role in this area has brought so much life and excitement – what an asset she has become to us in such a short amount of time.  The future for this area of our ministry is now much more secure and we are developing a new strategy along the way.  All very exciting. 

Throughout  the  year  we  have  been  a  very  generous  worshipping  community.  The Foodbank Appeal raised in excess of £7000, we have supported the final furnishing of The Kings Arms Youth Centre, and our giving to the ongoing work of the parish increased through our Generous June appeal.  Thank you so much for all that you have given. 

Sadly we said goodbye to Margaret and Peter Bell who made their long planned for move to Kettering to be near family.  They had been involved in ministry in the parish for nearly 40 years and are greatly missed.  We sent them on their way with gifts for their new home and look forward to when some of us might be able to visit them or they make a journey to see us here.  Also we bid a very fond farewell to Joy Windsor who after many year of being here in Alton moved with Pete to Horndean where she took up a new post with the local churches there.  It has been a blessing to see Joy flourish and share her love of Jesus with us.  We know she will be such a joy to her new flock.  We particularly miss her love of music and the fantastic contributions she made to the choirs of the parish, especially the Covenant Youth Choir. 

It has been wonderful to see the numbers who have worshipped with the parish during this period on Youtube, Zoom and Facebook Live as well as those times we have been able to open the doors of the churches.  Two very particular events stand out in my mind – both weddings.  Tony and Joyce Willman squeezed into the moment just before the intial lockdown and then Debbie and Charles Parker in December.  We wish both couples much love and blessings for their futures together. 

We know ‘normality’ will not return soon and then a ‘new normal’ will be upon us.  We are a strong, resilient and open-hearted community of disciples of Jesus and for that I thank God.  I trust and hope you will join me in prayer for the future yet in the satisfying knowledge that with God everything is possible and that his peace which passes all our human understanding will bless us wonderfully and mightily. 

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_**The Lord bless us and keep us The Lord make his face to shine upon us, and be gracious unto us The Lord lift up the light of his countenance upon us and give us peace Amen**_ 

# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

**TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **Financial Review** 

## **Report from the Treasurer** 

Timing is everything… 

When I became the Treasurer for POTR in January there was a draft budget in place and my first task after completing the year end work was to review and update it for approval by the PCC.  I did this in March and after spending a weekend and two evenings poring over the accounts, I finished.  What was quite surprising to me was that it naturally balanced!  There I was on the Tuesday evening of the 17th, sitting back and thinking that was a job well done when an email arrived from the Diocese of Winchester with the announcement from the Archbishops of Canterbury and York that all public services were now on hold in response to the C-19 pandemic.  “Well, that’s the budget shot to pieces” I thought to myself.  At that moment in time, Archbishops Justin Welby and John Sentamu were not my most popular persons.  They could not have timed that message delivery better even if they tried! 

## _Note: The budget applies to the [unrestricted] General Fund only_ 

That set the theme for the rest of the year really: how will C-19 impact both the functions and finances of POTR?  Once we had got over our initial concerns and the months began to  pass  by,  I  was,  and  still  am,  quite  amazed  at  how  resilient  POTR  is  during  this pandemic. 

## **Main Financial Statements** 

These are summaries of the full statements that start on page 13.  The overall final position is as follows: 

## **1 Statement of Financial Activities** 


**----- Start of picture text -----**<br>
Unrestric Restric Total<br>Funds Summary ted ted Total 2019<br>265,94<br>Income 204,383  61,558  1 300,708<br>(17,428 (227,4<br>Expenditure (210,055) ) 83) (328,909)<br>Net Income (5,672) 44,130 38,458 (28,201)<br>259,19<br>Funds Brought Forward 90,342 168,851 3 284,462<br>298,93<br>Funds Carried Forward 84,670 214,265 5 259,193<br>**----- End of picture text -----**<br>


The unrestricted funds net income is comprised of: 

 General Fund (3,049) 

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 Designated Funds (2,623) 

The reason for the General Fund position is due to income being some £20,3k behind budget (which includes a £10k one off COVID-19 grant) and expenses being some £16.9k behind  budget.   The  loss  of  income  is  mainly  due  to  a  reduction  in  parochial  fees (weddings) and church and hall hiring fees (closed buildings). 

The reason for the Designated Funds position is mainly due to POTR employing a Youth Worker, which is good news.  Salary payments are being paid from the PMAP funds that have been donated in previous years. 

The  restricted  funds  increase  was  mainly  due  to  generous  legacies  of  £40k  being received. 

## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **Financial Review** _(continued)_ 

The increase in net income of £38,458 is due to the following movements: 

## **Fixed Assets** 

Depreciation (1,568) **Current Assets** Reduction in Debtors (4,723) Increase in cash at bank 56,297 **Current Liabilities** Increase in Creditors (11,548) **Total of all movements 38,458** 

The increase in creditors was a temporary position that spanned across the year end. This was due to a grant of £15.4k approx. received from the Diocese of Winchester that was passed on to the Kings Arm Project in January 2021.  It is to help cover the cost of our youth worker and her role in the Alton College project, a joint venture between POTR and the Kings Arms Project. 

## **2 Statement of Financial Position** 


**----- Start of picture text -----**<br>
Total<br>Summary Total 2019<br>Fixed Assets 28,618 28,902<br>Current Assets 303,881 252,307<br>Current Liabilities (33,564) (22,016)<br>Total Assets less Current<br>Liabilities 298,935 259,193<br>**----- End of picture text -----**<br>


**3 Statement of Cash Flows** 

This statement reconciles the cash total held in bank accounts [Current Assets £294,520] with the cash movements and net income of £38,458. 

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## **Summary** 

POTR ends the year in a strong financial position despite the impact of COVID-19 and is well placed to continue in 2021 during these uncertain times.  The increase in net income was mainly due to a combination of: 

- reduction in parochial fees 

- building closures 

- cost control 

- one off grant 

- receipt of two generous legacies 

POTR cannot control all of the above and must therefore continue with strict cost control and maximising income opportunities. 

## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **Reserves Policy** 

The policy in full is available as a download from our website at: 

- https://potr alton.co.uk/policies/ (from the home page, select the ‘About Us’ menu and then ‘Policies’) 

The essence of the policy is to: 

- Maintain  reserves  in  the  unrestricted  General  Fund,  which  meets  day  to  day current expenditure of the parish, of at least 3 months of expenditure (at 2020 prices this is approximately £50,500) 

- Allocate any surplus General Fund monies in the first instance to the Parish Mission Action  Plan  Fund  which  can  be  used  for  any  aspect  of  the  parish’s  mission, especially community projects and evangelism work but also for building fabric work, if necessary 

- Ensure  that  between  £5,000  and  £10,000  will  always  be  maintained  in  the restricted fabric funds for St Lawrence, All Saints and Holy Rood churches and between £2,000 and £5,000 for St Peter’s church 

- Not seek to divert monies from funds that exist for specific purposes e.g. the Choir Endowment Fund, the Youth Work Fund and the Covenant Fund for the Greater Alton Project in covenant with the Methodist Church 

A full listing of our fund reserves is shown at note 21 in the Notes to the Financial Statements. 

## **Reserves** 

Unrestricted  funds  were  £84,565  (General  £46,028,  Designated  £38,537),  Restricted £194,391 and Endowment £19,874.  None of the underlying individual funds were in deficit.  However, with regards to our reserves policy and SORP (FRS 102) there are two restricted funds that require a specific mention: 

- The Hol ~~dy~~ Rood Fabric Fund has a balance of £1,908 which is below the minimum 

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policy requi ~~t~~ rement of £5,000.  However, the Holy Rood Living Space Project fund has a balance of £4,017.  This project is now complete.  The PCC will need to look at transferring these excess funds to the Fabric Fund in accordance with charity law. 

- St Peter’s Fabric Fund has a balance of £5,397 but once the roof and bellcote repairs have been completed, the fund will be severely depleted.  An action plan for fundraising to replenish the fund will need to be drawn up.  This may prove to be difficult in the short term in view of the COVID-19 pandemic. 

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# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

# **TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

# **YEAR ENDED 31 DECEMBER 2020** 

## **Investment Policy** 

This is available from the website like the Reserve Policy. 

The policy in full is available as a download from our website at: 

- https://potr alton.co.uk/policies/ (from the home page, select the ‘About Us’ menu and then ‘Policies’) 

In October, our fixed term investment account with Shawbrook Bank matured and the renewal offer was a further year with an interest rate of 0.45%.  We chose to re-invest these funds via the CAF Charity Deposit Account, an investment platform that has a selection of banks and building societies, but most importantly, access to higher interest rates.  We re-invested these funds as follows: 

Aldermore Bank plc                              12mths @ 0.80% £35,998 Cambridge & Counties Bank Ltd          18mths @ 0.95%              £50,000 

Had we re-invested with Shawbrook Bank we would have earnt £387 of interest over the year.  The platform investments will pay £288 (Aldermore) and accrue (C&C) £475 over one year.  A total of £763 which is £376 more than Shawbrook, and that is after deducting the Annual Management Charge of 0.25%.  A much better return for these monies. 

## **All Saints Church** 

In last year’s report it was noted that the updating of the sound system was a future project.  This project was completed during the year.at a total cost of £2,852. 

## **Funds held as Agent** 

POTR has two restricted funds where the monies belong to a third party as follows: 

## **Alton Deanery Fund** 

Holds the contributions of local churches to the Deanery and pays out its expenses.  This fund is controlled by Mrs Elspeth Mary Mackeggie Gurney (Deanery Synod Member) who is also a Trustee of POTR.  The fund movements were: 


**----- Start of picture text -----**<br>
Description Amount<br>Balance Brought Forward 229.44<br>Monies in 226.96<br>Monies out (212.90)<br>Balance Carried Forward 243.50<br>**----- End of picture text -----**<br>


## **Butterfly & Singer Epoulbas Charity** 

Epoulbass  Foundation  UK-Cameroon  was  founded  by  one  of  our  worshipers, Fabienne Enongene, in 2014 after the death of her sister, who had devoted her life to helping young girls and vulnerable women escape from abusive marriages and relationships in the Eastern Region of Cameroon.  She wanted to continue the 

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work started by her sister Tata in her home village of Kanda in east Cameroon. 

# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

**TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

# **YEAR ENDED 31 DECEMBER 2020** 

Tata set up a sewing workshop there in 2009 for the girls in the village to give them a means of earning a living.  You can read more about this on our website: 

## Events: Dinner Dance in aid of Epoulbass Foundation UK 

The funds held are small and to help Fabienne, POTR holds these on her behalf. Historically, these monies have been held as a ‘Creditor’ balance in the accounts. This year we have placed them in a separately identifiable fund.  The balance held at the end of the year was £2,634.14. 

## **Risk Management** 

The Trustees of POTR acknowledge their collective responsibility to identify, assess and manage risks. 

The policy (and all other policies) in full is available as a download from our website at: 

- https://potr alton.co.uk/policies/ (from the home page, select the ‘About Us’ menu and then ‘Policies’) 

The Risk Management policy was originally signed off in March 2017.  Reviews and updates are made biennially.  For the year ahead, a new risk will be added for the impact of the COVID-19 pandemic on the day-to-day running of POTR.  All other risk policies will be reviewed and updated where required as part of the A&F Committee responsibilities. 

## **Structure, governance and management** 

The  Parish  of  the  Resurrection  was  formed  in  2010  from  the  former  parishes  of  St Lawrence  Alton,  All  Saints  Alton,  and  Holy  Rood  Holybourne.   The  parish  is  also  in covenant with Alton Methodist Church as part of the Greater Alton Project (GAP).  The GAP partnership celebrated its 10th anniversary in November 2019. 

The Parochial Church Council (PCC) is a corporate body established by the Church of England.  The appointment of PCC members is governed by the procedures set out in the Church Representation Rules. 

The PCC met regularly throughout the year and considered all issues for which it had a responsibility in law or where it had been given responsibility through the Church of England.  The PCC is supported in its work by various committees supplemented by specific task groups as required. The main ones are: 

- DCCs for St Lawrence & St Peter's, All Saints and Holy Rood 

- Administration & Finance 

- The GAP Covenant Council 

- Worship and Outreach 

The PCC has a Standing Committee which can be convened to transact business urgently where the full PCC could not be convened.  The ex-officio members of the Standing Committee are the Incumbent, Associate Vicar, Church wardens and the Treasurer. 

A  new  Governance  model  was  introduced  during  2020  reflecting  the  ongoing  and changing needs of the PCC.  This new model was approved by the PCC on the 5 February 

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2020.
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## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 


The trustees' annual report was approved on 15 March 2021 and signed on behalf of the board of trustees by: 


Revd Andrew Micklefield (Vicar) Chairman of Trustees 

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# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

# **TRUSTEES' ANNUAL REPORT** _**(continued)**_ 

# **YEAR ENDED 31 DECEMBER 2020** 

## **Administrative Information** 

**Registered charity name** The Parochial Church Council of the Ecclesiastical Parish of the Resurrection, Alton 

## **Principal office** 

St Lawrence Parish Centre Church Street ALTON Hampshire GU34 2BW 01420 83234 

## **Parish Administration Team** 

Philippa Penfold and Ellie Elder - Administrators 

**Charity registration** 1136970 **number The Trustees Changes 2020** Revd Andrew Mark Micklefield (Vicar) Revd Gordan Charles Randall (Associate Vicar) Revd Joy Kathleen Windsor (Curate) Until 25 October 2020 Revd Lynn Diana Power (Assistant Priest) Revd Rachel Caroline Sturt (Assistant Priest) Mrs Debbie Parker (née Thrower) (Anna Chaplain) Mrs Margaret Bell (Lay Minister) Until 23 August 2020 Mr Timothy Charles Duddridge (Churchwarden) Mr Keith Arrowsmith-Oliver (Churchwarden) Mr Alan Roy Armstrong (Churchwarden) Ms Jennifer Lawrence (Churchwarden) Ms Angela Mary Briggs (Churchwarden) Mr John Richard Vivian (Churchwarden) Mr Peter Bell (Deanery Synod Member) Until 23 August 2020 Mrs Elspeth Mary Mackeggie Gurney (Deanery Synod Member) Mr Derek Allan Gurney (Deanery Synod Member) Mrs Victoria Estelle Hewitt (Deanery Synod Member) Mr Matthew Bayliss (Deanery Synod Member) From 22 October 2020 Mr Robin Lincoln Kemp (Special Interest St Lawrence) Mrs Sarah Margaret Neish (Special Interest St Peter’s) Mrs Wendy Jean Burnhams (Special Interest All Saints) Mr Timothy George Yews Loy (Special Interest Holy Rood) Until 30 April 2020 Mrs Lisa Lorraine Hillan (Special Interest Holy Rood) Mr Colin Alfred Ronald Aiken (Treasurer)* 

## **Bankers** 

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA 

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# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

# **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **YEAR ENDED 31 DECEMBER 2020** 

I  report  on  the  financial  statements  for  the  year  ended  31 December 2020,  which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes. 

## **Respective responsibilities of trustees and examiner** 

The trustees are responsible for the preparation of the financial statements. The 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: 

- examine the accounts under section 145 of the 2011 Act; 

- to follow the procedures laid down in the general Directions given by the Charity 

- Commission under section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **Basis of independent examiner's report** 

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the  charity  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  trustees  concerning  any  such  matters.  The  procedures undertaken do not provide all the  evidence that would be  required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the next statement. 

## **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  respect  the requirements: 

- to keep accounting records in accordance with section 130 of the 2011 Act, and 

 to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 

have not been met, or 

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Since your charity’s gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of 'The Institute of Chartered Accountants in England and Wales' which is one of the listed bodies. 

MR L.J. POWELL, B.Sc., F.C.A. Independent Examiner 

## L J Powell 

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Powdin & Co Chartered Accountants Hampshire House 204 Holly Road ALDERSHOT Hampshire GU12 4SE 

12 April 2021 

## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **31 DECEMBER 2020** 

|||||**2020**|2019|
|---|---|---|---|---|---|
|||Unrestricte|Restricted|**Total**||
|||d funds|funds|**funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|175,233|60,291|235,524|242,954|
|Charitable activities|**5**|21,702|--|21,702|40,645|
|Other trading activities|**6**|5,933|--|5,933|13,934|
|Investment income|**7**|1,515|1,267|2,782|3,175|
|||─────────|─────────|─────────|─────────|
|**Total income**||204,383|61,558|265,941|300,708|
|||═════════|═════════|═════════|═════════|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of other trading activities|**8**|(369)|--|(369)|(6,065)|
|Expenditure on charitable|**9,1**|||||
|activities|**0**|(<br>209<br>,686)|(17,428)|(<br>227<br>,114)|(322,844)|
|||─────────|─────────|─────────|─────────|
|**Total expenditure**||(<br>210<br>,055)|(17,428)|(<br>227<br>,483)|(328,909)|
|||═════════|═════════|═════════|═════════|
|||─────────|─────────|─────────|─────────|
|**Net income**||(<br>5<br>,672)|44,130|38<br>,458|(28,201)|
|||═════════|═════════|═════════|═════════|
|**Other recognised gains and**|**losses**|||||
|Fair value movement on|**18**|||||
|investments||--|1,284|1,284<br>2,932||
|||─────────|─────────|─────────|─────────|
|**Net movement in funds**||(<br>5<br>,672)|45,414|39<br>,742<br>(25,269)||
|**Reconciliation of funds**||||||
|Total funds brought forward||90,342|168,851|259,193|284,462|
|||─────────|─────────|─────────|─────────|
|**Total funds carried forward**||84<br>,670|214,265|298<br>,935|259,193|
|||═════════|═════════|═════════|═════════|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

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## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **STATEMENT OF FINANCIAL POSITION** 

## **31 DECEMBER 2020** 

||||**20**|||
|---|---|---|---|---|---|
|||**20**||2019||
|||**£**|**£**|£|£|
|**Fixed assets**||||||
|Tangible fxed assets|**17**||8,744||10,312|
|Investments|**18**||19,874||18,590|
||||────────||────────|
||||28,618||28,902|
|**Current assets**||||||
|Stocks||500||500||
|Debtors|**19**|8,861||13,584||
|Cash at bank and in hand*||294,520||238,223||
|||─────────||─────────||
|||303,881||252,307||
|**Current liabilities**||||||
|Creditors: amounts falling due||||||
|within one year|**20**|33<br>,564||22,016||
|||─────────||─────────||
|**Net current assets**|||270<br>,317||230,291|
||||─────────||─────────|
|**Total assets less current liabilities**|||298<br>,935||259,193|
||||═════════||═════════|
|**Funds of the charity**||||||
|Restricted funds|||214,265||168,851|
|Unrestricted funds|||84<br>,670||90,342|
|**Total unrestricted funds**||84<br>,670||90,342||
||||─────────||─────────|
|**Total charity funds**|**21**||298<br>,935||259,193|
||||═════════||═════════|



Note: Cash at bank and in hand* has been adjusted down by £1 to account for rounding differences when removing the pence amount from these figures. 

20 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **STATEMENT OF CASH FLOWS** 

## **YEAR ENDED 31 DECEMBER 2020** 

||**2020**|2019|
|---|---|---|
||**£**|£|
|**Cash fows from operating activities**|||
|Net income|38<br>,458|(28,201)|
|_Adjustments for:_|||
|Depreciation of tangible fxed assets [note 13]|1,568|1,568|
|Dividends, interest and rents from investments [note 7]|(558)|(691)|
|Other interest receivable and similar income [note 7]|(2,224)|(2,484)|
|_Changes in:_|||
|Trade and other debtors [Incr – Decr +]|4,723|(4,052)|
|Trade and other creditors [Incr + Decr -]|11<br>,548|(5,149)|
||─────────|────────|
|Cash generated from operations|53,515|(39,009)|
|Interest received|2,224|2,483|
||─────────|────────|
|Net cash from operating activities|55,739|(36,526)|
||═════════|════════|
|**Cash fows from investing activities**|||
|Dividends, interest and rents from investments|558|691|
|Purchase of tangible assets|0|0|
||─────────|────────|
|Net cash used in investing activities|558|691|
||═════════|════════|
|**Net increase in cash and cash equivalents**|56,297|(35,835)|
|**Cash and cash equivalents at beginning of year**|238,223|274,058|
||─────────|─────────|
|**Cash and cash equivalents at end of year**|294,520|238,223|
||═════════|═════════|



These financial statements were approved by the board of trustees and authorised for issue on 15 March 2021, and are signed on behalf of the board by: 


Revd Andrew Micklefield (Vicar) Chairman of Trustees 

**The notes on pages 20 to 29 form part of these financial statements** 

21 



# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **YEAR ENDED 31 DECEMBER 2020** 

## **1. General information** 

The charity is registered charity in England and Wales and is unincorporated. The address  of  the  principal  office  is  St  Lawrence  Parish  Centre,  Church  Street,  Alton, Hampshire, GU34 2BW. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial  Reporting  Standard  applicable  in  the  UK  and  the  Republic  of  Ireland',  the 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) (Charities SORP (FRS 102) and the Charities Act 2011. 

These financial statements have also been prepared in accordance with Church of England  guidance  entitled  PCC  Accountability:  The  Charities  Act  2011  and  the  PCC, including the Church Accounting Regulations 2006 prescribed by the Business Committee of the General Synod. 

## **3. Accounting policies** 

## **(a) Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

## **(b) Going concern** 

There are no material uncertainties about the charity's ability to continue. 

## **(c) Charities SORP (FRS 102)** 

The  entity transitioned from previous FRS 102 January 2015 to FRS 102  second edition October 2019 (effective 1 January 2019). 

## **(d) Judgements and key sources of estimation uncertainty** 

The preparation  of the financial statements  requires  management  to make judgements,  estimates  and  assumptions  that  affect  the  amounts  reported.  These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## **Significant judgements** 

The  judgements  (apart  from  those  involving  estimations)  that  management  has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: 

There were no exceptional events to take account of or judgements to be made. 

22 



# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **3. Accounting policies** _**(continued)**_ 

## **Judgements and key sources of estimation uncertainty** _**(continued)**_ 

Key sources of estimation uncertainty 

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources  of  estimation  uncertainty  that  have  a  significant  risk  of  causing  a  material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: 

- None. 

## **(e) Fund accounting** 

Unrestricted or general funds represent the funds of the Parochial Church Council (PCC) that are not subject to any restrictions regarding their use and are available for use at the discretion of the trustees for general purposes of the PCC. 

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. 

The financial statements include all transactions, assets and liabilities for which the PCC is responsible by law. They do not include the accounts of such groups that owe their main  affiliation  to  another  body  nor  those  that  are  informal  gatherings  of  church members. 

## **(f) Incoming resources** 

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction  will  flow  to  the  charity  and  the  amount  can  be  reliably  measured.  The following specific policies are applied to particular categories of income: 

- Income from collections is recognised when received. 

 Planned giving receivable under Gift Aid is recognised when received. Income Tax recoverable on Gift Aid donations is recognised when the related income is recognised. 

 Grants and legacies to the PCC are recognised when the PCC is notified of its legal entitlement and the amount due and its ultimate receipt by the PCC are reasonably certain. 

- Income from church hall lettings is recognised when the rental is due. 

 Dividends are recognised when they become due and payable. Interest income is recognised when it is due and is accrued accordingly. 

23 



# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

# **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

# **YEAR ENDED 31 DECEMBER 2020** 

## **3. Accounting policies** _**(continued)**_ 

## **(g) Resources expended** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: 

 expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

 expenditure  on  charitable  activities  includes  all  costs  incurred  by  a  charity  in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including  those  support  costs  and  costs  relating  to  the  governance  of  the  charity apportioned to charitable activities. 

 other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

 Expenses in respect of grants are recognised at the earlier of when the grant is paid or when there is a binding obligation on the PCC to make a grant and it can be valued with reasonable certainty. 

- the Common Mission Fund contributions are charged as an expense when payable. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs  are  apportioned  between  the  activities  they  contribute  to  on  a  reasonable, justifiable and consistent basis. 

## **(h) Tangible assets** 

Consecrated land and benefice property is excluded from these financial statements under the terms of the Charities Act 2011. 

No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficial property and moveable church furnishings, whether maintenance or improvement, is written off as expenditure when incurred. 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

The capitalisation threshold is £1,000. 

An increase  in the  carrying amount of an asset as a result of a revaluation,  is recognised  in  other  recognised  gains  and  losses,  unless  it  reverses  a  charge  for impairment that has previously been recognised as expenditure within the statement of financial  activities.   A  decrease  in  the  carrying  amount  of  an  asset  as  a  result  of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

24 



# **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

# **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

# **YEAR ENDED 31 DECEMBER 2020** 

## **3. Accounting policies** _**(continued)**_ 

## **(i) Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Extensions to buildings (non5% straight line consecrated) Fixtures and fittings - 10% straight line General Equipment - 20% straight line 

## **(j) Investments** 

Unlisted  equity  investments  are  initially  recorded  at  cost,  and  subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. 

## **(k) Stocks** 

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. 

## **(l) Financial instruments** 

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 

Basic  financial  instruments  are  initially  recognised  at  the  amount  receivable  or parable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

Debt instruments are subsequently measured at amortised cost. 

Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. 

Financial  assets  that  are  measured  at  cost  or  amortised  cost  are  reviewed  for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 

26 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **3. Accounting policies** _**(continued)**_ 

## **Financial instruments** _**(continued)**_ 

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 

## **4. Donations and legacies** 

||||**Total**|
|---|---|---|---|
||Unrestricte|Restricted|**Funds**|
||d Funds|Funds|**2020**|
||£|£|**£**|
|**Donations**||||
|Planned Giving|120,099|--|120,099|
|Other Planned Giving|1,440|--|1,440|
|Loose Plate Collections|3,933|--|3,933|
|Non Planned & Sundry Donations|8,440|9,493|17,933|
|Gift Aid Tax Recoverable|30,046|578|30,624|
|Other Funds Generated|1,275|3,606|4,881|
|Mission Collections|--|5,700|5,700|
|**Legacies**||||
|Legacies|--|38,971|38,971|
|**Grants**||||
|COVID-19 and Other Grants|10,000|1,943|11,943|
||─────────|─────────|─────────|
||175,233|60,291|235,524|
||═════════|═════════|═════════|
||Unrestricte|Restricted|Total Funds|
||d Funds|Funds|2019|
||£|£|£|
|**Donations**||||
|Planned Giving|119,463|--|119,463|
|Other Planned Giving|1,440|1,800|3,240|
|Loose Plate Collections|11,892|54|11,946|
|Non Planned & Sundry Donations|6,600|4,902|11,502|
|Gift Aid Tax Recoverable|29,290|5,058|34,348|
|Other Funds Generated|14,309|26,358|40,667|
|Mission Collections|--|4,232|4,232|
|**Legacies**||||
|Legacies|17,056|--|17,056|
|**Grants**||||
|Heritage Lottery and Other Grants|--|500|500|
||─────────|────────|─────────|
||200,050|42,904|242,954|
||═════════|════════|═════════|



27 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **5. Charitable activities** 

|||**Total**|||
|---|---|---|---|---|
||Unrestricte|**Funds**|Unrestricte|Total Funds|
||d Funds|**2020**|d Funds|2019|
||£|**£**|£|£|
|Parochial Fees|8,040|8,040|13,617|13,617|
|Church Hall Lettings|13,662|13,662|27,028|27,028|
||────────|────────|────────|────────|
||21,702|21,702|40,645|40,645|
||════════|════════|════════|════════|



**6. Other trading activities** 

||||**Total**|
|---|---|---|---|
||Unrestricte|Restricted|**Funds**|
||d Funds|Funds|**2020**|
||£|£|**£**|
|Concerts, Fairs and Other Fund Raising Events|3,296|--|3,296|
|Magazine Sales and Advertising|2,637|--|2,637|
||────────|───────|────────|
||5,933|--|5,933|
||════════|═══════|════════|
||Unrestricte|Restricted|Total Funds|
||d Funds|Funds|2019|
||£|£|£|
|Concerts, Fairs and Other Fund Raising Events|9,797|1,635|11,432|
|Magazine Sales and Advertising|2,502|--|2,502|
||────────|───────|────────|
||12,299|1,635|13,934|
||════════|════════|════════|



**7. Investment income** 

||||**Total**|
|---|---|---|---|
||Unrestricte|Restricted|**Funds**|
||d Funds|Funds|**2020**|
||£|£|**£**|
|Income from listed investments|558|--|558|
|Bank Interest Receivable|957|1,267|2,224|
||────────|───────|────────|
||1,515|1,267|2,782|
||════════|════════|════════|
||Unrestricte|Restricted|Total Funds|
||d Funds|Funds|2019|
||£|£|£|
|Income from listed investments|691|--|691|
|Bank Interest Receivable|882|1,602|2,484|
||────────|───────|────────|
||1,573|1,602|3,175|
||════════|════════|════════|



28 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **8. Costs of other trading activities** 

||||**Total**|
|---|---|---|---|
||Unrestricte|Restricted|**Funds**|
||d Funds|Funds|**2020**|
||£|£|**£**|
|Concerts, Fairs and Other Fund Raising Events|369|--|369|
||═══════|═══════|═══════|
||Unrestricte|Restricted|Total Funds|
||d Funds|Funds|2019|
||£|£|£|
|Concerts, Fairs and Other Fund Raising Events|5,383|682|6,065|
||═══════|═══════|═══════|



## **9. Expenditure on charitable activities by fund type** 

||||**Total**|
|---|---|---|---|
||Unrestricte|Restricted|**Funds**|
||d Funds|Funds|**2020**|
||£|£|**£**|
|Activities directly related to the work of the||||
|church|172,845|213|173,058|
|Support costs|32<br>,765|251|33<br>,016|
|All Saints Fabric Fund|--|284|284|
|All Saints Maintenance and Costs|--|3,118|3,118|
|Covenant Fund|--|3,912|3,912|
|Holy Rood Fabric Fund|--|473|473|
|Holy Rood Living Space|--|1,441|1,441|
|Mission Fund|--|6,053|6,053|
|Minister Discretionary Fund|--|90|90|
|Parish Mission Action Plan Fund|4,076|--|4,076|
|St Lawrence Fabric Fund|--|1,048|1,048|
|St Peter’s Fabric Fund|--|216|216|
|Youth Work Fund|--|329|329|
||─────────|─────────|─────────|
||209<br>,686|17,428|227<br>,114|
||═════════|═════════|═════════|



29 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **9. Expenditure on charitable activities by fund type** _**(continued)**_ 

||Unrestricte|Restricted|Total Funds|
|---|---|---|---|
||d Funds|Funds|2019|
||£|£|£|
|Activities directly related to the  work  of the||||
|church|183,871|--|183,871|
|Support costs|37,864|251|38,115|
|All Saints Maintenance and Costs|--|3,235|3,235|
|Covenant Fund|10,547|5,940|16,487|
|Holy Rood Bells Fund|1,858|--|1,858|
|Holy Rood Fabric Fund|--|9,676|9,676|
|Holy Rood Living Space|--|22,374|22,374|
|Mission Fund|--|4,734|4,734|
|Parish Mission Action Plan Fund|19,971|--|19,971|
|St Lawrence Fabric Fund|--|20,823|20,823|
|St Peter’s Fabric Fund|--|1,106|1,106|
|Youth Work Fund|--|594|594|
||─────────|─────────|─────────|
||254,111|68,733|322,844|
||═════════|═════════|═════════|



## **10. Expenditure on charitable activities by activity type** 

||Activities|Grant||**Total**||
|---|---|---|---|---|---|
||undertake|funding of|Support|**funds**|Total funds|
||n directly|activities|costs|**2020**|2019|
||£|£|£|**£**|£|
|Activities directly||||||
|related to the work of||||||
|the church|173,058|–|32,265|205,323|221,240|
|All Saints Fabric Fund||||||
||284|--|--|284|--|
|All Saints Maint &||||||
|Costs|3,118|–|–|3,118|3,235|
|Church Street Fund||||||
||--|--|251|251|251|
|Covenant Fund||||||
||3,912|--|--|3,912|16,487|
|Holy Rood Bells Fund||||||
||--|--|--|--|1,858|
|Holy Rood Fabric Fund||||||
||473|--|--|473|9,676|
|Holy Rood Living Space||||||
||1,441|--|--|1,441|22,374|
|Mission Fund||||||
||--|6,053|--|6,053|4,734|
|Minister Discretion||||||
|Fund|90|--|--|90|--|
|Parish Mission Fund||||||
||4,076|--|--|4,076|19,971|
|St Lawrence Fabric||||||
|Fund|1,048|--|--|1,048|20,823|



30 



|St Peter’s Fabric Fund||||||
|---|---|---|---|---|---|
||216|--|--|216|1,106|
|Youth Work Fund||||||
||329|--|--|329|594|
|Governance costs||||||
||–|–|500|500|495|
||─────────|───────|────────|─────────<br>─────────||
||188,045|6,053|33,016|227,114<br>322,844||
||═════════|═══════|════════|═════════<br>═════════||



31 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **11. Analysis of support costs** 

|**11. Analysis of support costs**||||
|---|---|---|---|
|Activities directly related||||
|to the work of the|Church|||
|Church|Street Fund|**Total 2020**|Total 2019|
|£|£|**£**|£|
|Staf costs||||
|18,831|–|18,831<br>18,643||
|Parish Bookkeeper|–|||
|2,124||2,124<br>3,480||
|General ofce||||
|6,677|–|6,677<br>8,806||
|Governance costs||||
|500|–|500|495|
|Clergy Expenses||||
|3,316|–|3,316<br>5,123||
|Depreciation||||
|1,317|251|1,568<br>1,568||
|────────|────|────────|────────|
|32<br>,765|251|33<br>,016<br>38,115||
|════════|════|════════|════════|
|**12. Analysis of grants**||||
||**20**|||
|**20**|||2019|
||**£**||£|
|**Grants to institutions**||||
|Missionary Societies|1060||2,835|
|Home Mission|4839||134|
|Relief and Development Agencies|154||1,765|
||───────||───────|
||6,053||4,734|
||═══════||═══════|
|**13. Net income**||||
|Net income is stated after charging/(crediting):||||
|||**2020**|2019|
|||**£**|£|
|Depreciation of tangible fxed assets||1,568<br>1,568||
|||═══════|═══════|
|**14. Independent examination fees**||||
|||**2020**|2019|
|||**£**|£|
|Fees payable to the independent examiner for:||||
|Independent examination of the fnancial statements||500|495|
|||════|════|



32 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **15. Staff costs** 

The total staff costs and employee benefits for the reporting period are analysed as follows: 

||**2020**|2019|
|---|---|---|
||**£**|£|
|Wages and salaries|24,796|41,613|
||════════|════════|



The average head count of employees during the year was 3 (2019:3). 

No employee received employee benefits of more than £60,000 during the year (2019: Nil). 

## **16. Trustee remuneration and expenses** 

The  parish  bookkeeper,  Mrs  V  E  Hewitt,  who  is  a  member  of  the  PCC,  is  selfemployed as a bookkeeper, and through her business was paid £2,124.00 during the year. 

33 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **17. Tangible fixed assets** 

|**Tangible fxed assets**|||||
|---|---|---|---|---|
||Freehold|Fixtures|||
||property|and fttings|Equipment|**Total**|
||£|£|£|**£**|
|**Cost**|||||
|At 1 January 2020|20,165|5,696|5,585|31,446|
|Additions|–||–||
|Disposals|–|--|–|--|
||────────|───────|───────|────────|
|**At 31 December 2020**|20,165|5,696|5,585|31,446|
||════════|═══════|═══════|════════|
|**Depreciation**|||||
|At 1 January 2020|11,089|4,460|5,585|21,134|
|Charge for the year (5%, 10%)|1,008|560|--|1,568|
|Disposals|–|--|–|--|
||────────|───────|───────|────────|
|**At 31 December 2020**|12,097|5,020|5,585|22,702|
||════════|═══════|═══════|════════|
|**Carrying amount**|||||
|**At 31 December 2020**|8,068|676|–|8,744|
||════════|═══════|═══════|════════|
|At 31 December 2019|9,076|1,236|--|10,312|
||════════|═══════|═══════|════════|



## **18. Investments** 

||**Listed**|
|---|---|
||**investmen**|
||**ts**|
||**£**|
|**Cost or valuation**||
|At 1 January 2020|18,590|
|Fair value movements|1,284|
||────────|
|**At 31 December 2020**|19,874|
||════════|
|**Impairment**|-|
|At 31 December 2020|_____|
||_|
|**Carrying amount**||
|**At 31 December 2020**|19,874|
||════════|
|At 31 December 2019|18,590|
||════════|



All investments shown above are held at valuation. 

## **Financial assets held at fair value** 

Listed  investments  comprise  972  income  shares  in  The  CBF  Church  of  England Investment Fund. The valuation is the bid market value as provided by The CBF Church of England Investment Fund. 

The PCC is not aware of the historic cost of the investments as they have been held 

34 



for a number of years.
35

## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

|**19. **|**Debtors**|||
|---|---|---|---|
|||**2020**|2019|
|||**£**|£|
||Prepayments and accrued income|574|557|
||Other debtors|8,287|13,027|
|||───────|───────|
|||8,861|13,584|
|||═══════|═══════|
|**20. **|**Creditors:** **amounts falling due within one year**|||
|||**2020**|2019|
|||**£**|£|
||Other creditors|33<br>,564|22,016|
|||════════|════════|



36 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **21. Analysis of charitable funds** 

## **Unrestricted funds** 

|||||||||**At 31**|
|---|---|---|---|---|---|---|---|---|
||||At|||Gains|**Decembe**||
||||1 January||Expenditur|and||**r**|
||||2020|Income|e|losses||**2020**|
||||£|£|£|£||£|
|All Saints Fabric Fund*|||2,019|17|--|–||2,036|
|Covenant Youth Choir|||||||||
|Fund|||1,541|207|--|–||1,748|
|Holy Rood Bells Fund|||2,423|20|--|–||2,443|
|Parish Mission Plan|||||||||
|Fund|||35,177|1,209|(4,076)|–||32,310|
|General Fund*|||49<br>,182|202<br>,930|(205,979)|–||46,133|
||||────────|─────────|─────────|────||─────────|
||||90<br>,342|204<br>,383|(210,055)|–||84,670|
||||════════|═════════|═════════|════||═════════|
|**Restricted funds**|||||||||
||||**At**|||||**At 31**|
||||**1 Januar**|||Gains|**Decembe**||
||||**y**||Expenditur|and||**r**|
||||**2020**|Income|e|losses||**2020**|
||||£|£|£|£||£|
|All Saints Maintenance|||||||||
|and Costs Fund|||40,071|298|(3,118)|||37,251|
|Alton Deanery Fund|||229|227|(213)||--|243|
|All Saints Bells Fund*|||7,771|62|--|||7,833|
|Butterfy & Singer|||||||||
|Epoulbas|||--|2,634|--||--|2,634|
|Choir Endowment|||||||||
|Fund|||18,590|–|–|1,284||19,874|
|Covenant Fund *|||4,044|1<br>,960|(3,912)|||2,092|
|All Saints Fabric Fund|||6,314|10,129|(284)|||16,159|
|St Lawrence Fabric|||||||||
|Fund|||37,676|29,501|(1,048)|||66,129|
|Holy Rood Fabric||Fund|566|1,815|(473)|||1,908|
|Holy Rood Living|||||||||
|Space Fund|||4,592|866|(1,441)||--|4,017|
|Church Street Fund|||2,267|–|(251)||--|2,016|
|Minister Discretionary|||||||||
|Fund|||--|1,007|(90)|||917|
|Mission Fund|||–|6,053|(6,053)|||–|
|Organ Fund|||3,851|1,052|--|||4,903|
|POTR All Churches|||||||||
|Fabric Fund *|||35<br>,670|5<br>,055|--|||40<br>,725|
|St Peters Fabric Fund|||4,731|882|(216)||--|5,397|
|Youth Work Fund|||2,479|17|(329)|||2,167|
||||────────|─────────|─────────|────||─────────|
||||168<br>,851|61,558|(17,428)|1,284||214<br>,265|
||||════════|═════════|═════════|════||═════════|



37 



Note: Funds with an * at the end of their name have been adjusted by £1 to account for rounding differences when removing the pence amount from these figures 

38 



## **PAROCHIAL CHURCH COUNCIL OF THE PARISH OF THE RESURRECTION, ALTON** 

## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_ 

## **YEAR ENDED 31 DECEMBER 2020** 

## **22. Analysis of net assets between funds** 

||Unrestricted|Restricted|**Total Funds**|**Total Funds**|Total Funds|
|---|---|---|---|---|---|
||Funds|Funds||**2020**|2019|
||£|£||**£**|£|
|Tangible fxed assets|6,728|2,016||8,744|10,312|
|Investments|–|19,874||19,874|18,590|
|Current assets|94,149|209,732||303,881|252,307|
|Creditors less than 1 year|(<br>16,207)|(<br>17,357)<br>(<br>33,564)|||(22,016)|
||─────────|─────────||─────────|─────────|
|**Net assets**|84,670|214,265||298,935|259,193|
||═════════|═════════||═════════|═════════|



## **23. Financial instruments** 

|**Financial instruments**|||
|---|---|---|
|The carrying amount for each category of fnancial|||
|instrument is as follows:|||
||**2020**|2019|
||**£**|£|
|**Financial assets measured at fair value through**|||
|**income and expenditure**|||
|Investments**(**Choir Endowment Fund**)**|19,874|18,590|
||════════|════════|



39