**Charity Registration No. 1138072** **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** ## www.wimborneminster.org.uk **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Charity Trustees**|The Reverend Canon Andrew J W Rowland| |---|---| ||The Reverend Suzie Allen| ||The Reverend Heather Waldsax| ||The Reverend Elise Harding| ||Mrs Elfie Mills| ||Mrs Deirdre F Ashton| ||Mr Peter Cook| ||Mr Andrew Patrick| ||Mr Bruce Jensen| ||Mr Richard Knott| ||Mr David Steele| ||Mrs Melanie Canham| ||Mrs Sheila Soper| ||Mrs Jane Davidson| ||Mrs Anne King| ||Mr Colin Feltham| ||Mrs Leonie Thurlow| ||Mr David Warwick| ||Mr Anthony K Oliver MBE| ||Mrs Sarah Steele| ||Mr Francis W Vine| ||Mr Barry Glazier| ||Mrs Alison Francis| ||Reverend Nicholas Wells| ||Mrs Rosemary Lunt| ||Mrs Minna Harvey| |**Charity number**|1138072| |**Independent examiner**|Hill Osborne| ||Beaufort House| ||2 Cornmarket Court| ||Wimborne| ||Dorset| ||BH21 1JL| ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **CONTENTS** **----- Start of picture text -----**
Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Notes to the financial statements 8 - 24
**----- End of picture text -----**
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ The Annual Parochial Church Meeting (APCM) was delayed until 14[th] October 2020 due to Covid-19. ## **THE TRUSTEES** The following served the charity during the year: - The Reverend Canon Andrew J W Rowland The Reverend Suzie Allen The Reverend Heather Waldsax The Reverend Elise Harding The Reverend Nicholas Wells Appointed October 2020 Mrs Elfie Mills Licensed Lay Minister Mr Peter Cook Mr Andrew Patrick Mr Bruce Jensen (Churchwarden) (Churchwarden Emeritus and Deputy Churchwarden) (Churchwarden) Mr Richard Knott (Honorary Treasurer) Mr David Steele Mrs Melanie Canham Mrs Levinia Griffiths Mrs Sheila Soper Mrs Tricia Knott Mrs Jane Davidson Mrs Anne King Mr Colin Feltham Mrs Leonie Thurlow Mr David Warwick Mr Anthony K Oliver MBE Mrs Sarah Steele Mr Francis W Vine Mr Ian Grimbly Mr Mike Downton Mr Barry Glazier Mrs Deirdre F Ashton Mrs Alison Francis Retired October 2020 Retired October 2020 Retired October 2020 Deceased February 2020 Appointed October 2020 Mrs Rosemary Lunt Mrs Minna Harvey Appointed October 2020 Appointed October 2020 Honorary Secretary Electoral Roll Officer Mrs Beatrice Dopita Mrs Jane MacCaig Independent Examiner Hill Osborne Chartered Accountants Beaufort House 2 Cornmarket Court Wimborne BH21 1JL - 1 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Preamble** In line with the requirements of Church Accounting Regulations (2006) together with accounting standards and the Charities SORP applicable to Parochial Church Councils within the Church of England, the financial activities of the Wimborne Minster PCC are presented in this document. The financial statements include income and expenditure relating to the Minster and other properties. ## **Constitution of the Council** The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC was registered with the Charity Commission with effect from February 2010. ## **Role of the Council** The PCC have considered the Charity Commission's guidance on public benefit and the advancement of religion. The PCC co-operates with the Rector in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC sees the Minster's mission as witnessing steadfastly to the Christian faith and proclaiming the gospel through prayer and preaching, through service to the community of Wimborne and to visitors to the town, through service to those in need beyond the town of Wimborne and through careful stewardship of the Minster's heritage of excellence in its worship and in its fabric. The Minster also contributes to the spiritual and musical education of young people in the local area by inviting them to take part in the Choir, Experience Easter in the Minster and through Open the Book. ## **Appointment, induction and training of trustees of the Council** The trustees of the PCC are elected in accordance with the Church Representation Rules. Two trustees may be co-opted for a period of one year. Members of the clergy and churchwardens are ex-officio trustees of the PCC and all committees. Help and familiarisation is available through discussions with the Rector and Churchwardens, and the Treasurer provides training in understanding PCC accounts where necessary. ## **Organisation of the Council** In order to discharge its duties, the PCC appoints a number of committees which meet on a regular basis. It also employs staff to carry out various functions. The PCC generally meets 6 times per year, except during August and December. During the Covid -19 Pandemic The Standing Committee and PCC has regularly met online, as necessary. A socially-distanced Annual Parochial Church Council Meeting was convened and held on 14[th] October 2020according to the Covid-19 Pandemic Regulations. The current PCC committees are: Standing, Fabric, Worship and Music, Outreach, Tourism, Education, Minster Environment Group, Fundraising and Events, Minster Music Appeal and Minster Green Charities Fair. The PCC is represented by 5 members at Deanery Synod and 1 member at Diocesan Synod. The PCC takes this opportunity to thank the employees of the Minster for the fine manner in which they perform their duties throughout the year in support of the Minster's aims, to witness to Jesus Christ and always provide a warm and welcoming environment at the Minster. - 2 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **Risk Management** The PCC has considered and assessed the major risks to which they may be exposed and are satisfied that measures are in place to deal with major risks should they occur. There is regular communication with the Minster's insurers, other Greater Churches and the local authority on this subject. Action has been taken on matters of security in light of the worldwide activity against faith groups. An annual risk review is carried out as part of the insurance renewal process and specific Risk Assessment reviews are carried out before new enterprise starts. Activities of the Council The activities of the Parochial Church Council are outlined in the Reports presented for The Annual Parochial Church Meeting Booklet. This can be viewed or downloaded from the website www.wimborneminster.org.uk . ## **Achievements and performance** The Minster was often closed due to the Covid-19 Pandemic by Government Regulations. When it was open it was able to accommodate two services and the average weekly attendance was 100. Additionally Sunday worship and certain occasional services have been broadcast online vis YouTube and/or Zoom. Many events (especially the 900th Anniversary Celebrations and Flower Festival) had to be cancelled. The number of, and attendance at Weddings was curtailed, as was for Funerals and Baptisms. Electoral Roll and average weekly attendance: the number of persons on the electoral roll as at 31 December 2020 was 333. Attendance at major services (below) was limited by Covid-19 regulations: |Easter Day
Minster Closed – c. 90 on Zoom| |---| |Advent Carol Service 85| |Christmas Carols Services 118| |Crib Services 156| |Christmas Eve, Evening 75| |Christmas Day Services 105| The trustees' report was approved by the Parochial Church Council The Reverend Canon Andrew J W Rowland **Trustee** Dated: 16[th] September 2021 - 3 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE CHARITY TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** I report to the charity trustees on my examination of the financial statements of The Parochial Church Council of The Ecclesiastical Parish of St Cuthburga, Wimborne Minster (the PCC) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the charity trustees of the PCC 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 PCC’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** Since the PCC’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. 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 PCC 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. ## **R.I. Osborne, FCCA ACA** ## **Hill Osborne Ltd** ## **Chartered Accountants** Beaufort House 2 Cornmarket Court Wimborne Dorset BH21 1JL Dated: 12[th] October 2021 - 4 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**Current financial year**
**Unrestricted**
**funds**
**2020**
**Notes**
**£**
**Income from:**
Voluntary income
**3**
233,944.31
Charitable activities
Activities for generating funds
**4**
4,951.14
Church activities
**4**
17,110.95
Investments
**5**
6,589.25
**Total income and endowments**
262,595.65
**Expenditure on:**
Raising funds
**6**
290.00
Church activities
**7**
274,256.27
Other
**12**
28,066.13
**Total resources expended**
302,612.40
Net gains/(losses) on investments
**13**
-
**Net (outgoing)/incoming resources**
**before transfers**
(40,016.75)
**Net (outgoing)/incoming resources**
**before transfers**
(40,016.75)
Gross transfers between funds
12,074.31
**Net movement in funds**
(27,942.44)
Fund balances at 1 January 2020
122,509.02
**Fund balances at 31 December**
**2020**
94,566.58|**Restricted Endowment**
**funds**
**funds**
**2020**
**2020**
**£**
**£**
198,616.37
-
-
-
-
-
1,317.60
154.39
199,933.97
154.39
-
-
348,770.23
-
-
-
348,770.23
-
17,530.92
354.59
(131,305.34)
508.98
(131,305.34)
508.98
(11,919.92)
(154.39)
(143,225.26)
354.59
483,688.27
22,484.60
340,463.01
22,839.19|**Total**
**2020**
**£**
432,560.68
4,951.14
17,110.95
8,061.24
462,684.01
290.00
623,026.50
28,066.13
651,382.63
17,885.51
(170,813.11)
(170,813.11)
-
(170,813.11)
628,681.89
457,868.78|Total
2019
**£**
617,464.32
9,878.10
40,006.25
9,357.12| |---|---|---|---| ||||676,705.79| ||||954.45| ||||393,194.42| ||||-| ||||394,148.87| ||||40,983.89| ||||323,540.81
323,540.81
-| ||||323,540.81
305,141.08| ||||628,681.89| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** ## _**YEAR ENDED 31 DECEMBER 2019 FIGURES FOR COMPARISON**_ |**Prior financial year**
**Unrestricted**
**funds**
**2019**
**Notes**
**£**
**Income from:**
Voluntary income
**3**
350,057.82
Charitable activities
Activities for generating funds
**4**
9,878.10
Church activities
**4**
40,006.25
Investments
**5**
6,607.46
**Total income and endowments**
406,549.63
**Expenditure on:**
Raising funds
**6**
954.45
Church activities
**7**
301,464.76
**Total resources expended**
302,419.21
Net gains/(losses) on investments
**13**
-
**Net (outgoing)/incoming resources before**
**transfers**
104,130.42
Gross transfers between funds
11,258.92
**Net movement in funds**
115,389.34
Fund balances at 1 January 2019
7,119.68
**Fund balances at 31 December 2019**
122,509.02|**Restricted Endowment**
**funds**
**funds**
**2019**
**2019**
**£**
**£**
267,406.50
-
-
-
-
-
2,599.77
149.89
270,006.27
149.89
-
-
91,729.66
-
91,729.66
-
40,171.35
812.54
218,447.96
962.43
(11,109.03)
(149.89)
207,338.93
812.54
276,349.34
21,672.06
483,688.27
22,484.60|**Total**
**2019**
**£**
617,464.32
9,878.10
40,006.25
9,357.12| |---|---|---| |||676,705.79| |||954.45| |||393,194.42| |||| |||394,148.87| |||40,983.89| |||323,540.81
-| |||323,540.81
305,141.08| |||628,681.89| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 6 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2020**_ |**Notes**
**Fixed assets**
Tangible assets
**14**
Investments
**15**
**Current assets**
Debtors
**16**
Cash at bank and in hand
**17**
**Creditors: amounts falling due within**
**one year**
**18**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
**Income funds**
Restricted funds
Unrestricted funds-general
Designated funds
General unrestricted funds|**2020**
**£**
**£**
24,247.94
294,253.78
318,501.72
4,196.64
159,322.80
163,519.44
(24,152.38)
139,367.06
457,868.78
22,839.19
340,463.01
18,580.18
75,986.40
94,566.58
457,868.78|**2019**
**£**
**£**
16,992.05
303,116.80
320,108.85
7,821.73
373,290.55
381,112.28
(72,539.24)
308,573.04
628,681.89
22,484.60
483,688.27
21,544.29
100,964.73
122,509.02
628,681.89|**2019**
**£**
**£**
16,992.05
303,116.80
320,108.85
7,821.73
373,290.55
381,112.28
(72,539.24)
308,573.04
628,681.89
22,484.60
483,688.27
21,544.29
100,964.73
122,509.02
628,681.89| |---|---|---|---| ||||320,108.85
308,573.04| ||||628,681.89| ||||22,484.60
483,688.27
122,509.02| ||||628,681.89| The financial statements were approved by the Parochial Church Council on 16[th] September 2021 The Reverend Canon Andrew J W Rowland **Trustee** - 7 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **1.1 Accounting convention** The financial statements have been prepared in accordance with 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 PCC is a Public Benefit Entity as defined by FRS 102. The PCC 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 PCC. The financial statements have been prepared under the historical cost convention except for investment assets which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include funds of church groups that owe an affiliation to another body nor those that are informal gatherings of church members. ## **1.2 Going concern** At the time of approving the financial statements, the charity trustees have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus the charity trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are general funds which can be used for PCC ordinary purposes. The purpose of any restricted funds is noted in the accounts. Any balance unspent at the end of the year must be carried forward as a balance on that fund. Endowment funds are subject to specific conditions, the capital of which must be maintained by the PCC. Only income arising from investment of the endowment may be used as either restricted or unrestricted funds depending upon the purpose for which the endowment was established. ## **1.4 Incoming resources** Voluntary income and capital sources Income is recognised when the PCC 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 PCC 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. Legacies are recognised on receipt or otherwise if the PCC 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. - 8 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** Other ordinary income Rental income from Church House is accounted for by reference to letting date. Fees due are accounted for on an event by event basis. Car park rent is recognised on an accruals basis. ## **1.5 Resources expended** Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and accounted for gross. The PCC operates a defined contribution pension scheme and contributions are charged against income on an accruals basis for the year in which they are payable to the scheme. ## **1.6 Tangible fixed assets** Consecrated property and moveable church furnishings Consecrated and beneficed property is excluded from the accounts by s.10(2)(c) of the Charities Act 2011. Moveable church furnishings held by the Rector and churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the Church's inventory which can be inspected. For inalienable property acquired prior to 2001 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired after 1st January 2001 are capitalised and depreciated in the accounts over their anticipated useful economic life. All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £750 or on the repair of moveable church furnishings acquired before 1st January 2001 is written off. Other fixtures, fittings and equipment Equipment not considered to be inalienable property is capitalised and depreciated on a 15% reducing balance basis per annum. Generally, items less than £750 are written off in the period of acquisition. 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 net income/(expenditure) for the year. ## **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 PCC 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 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less. - 9 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **1.10 Financial instruments** The PCC 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 PCC's balance sheet when the PCC 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 payments 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 PCC’s contractual obligations expire or are discharged or cancelled. ## **2 Critical accounting estimates and judgements** In the application of the PCC’s accounting policies, the charity trustees 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. - 10 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **3 Voluntary income** |**Unrestricted**
**funds**
**general**
**2020**
**£**
Donations and gifts
168,045.11
Grants
65,899.20
Other
-
233,944.31
**Donations and gifts**
Tax efficient planned
giving
100,244.01
Gift aid recoverable
25,609.00
Uncovenanted
14,316.50
Collections at services
7,699.23
Special collections
1,966.80
Donations
3,974.86
Donations - Chained
library
-
Legacy
9,531.85
Other income
4,702.86
168,045.11|**Restricted**
**funds**
**2020**
**£**
-
198,227.97
388.40
198,616.37
-
-
-
-
-
-
-
-
-
-|**Total**
Unrestricted
funds
general
**2020**
2019
**£**
£
168,045.11
312,926.79
264,127.17
37,131.03
388.40
-
432,560.68
350,057.82
100,244.01
95,169.13
25,609.00
33,528.13
14,316.50
11,815.40
7,699.23
26,703.44
1,966.80
4,435.68
3,974.86
71,103.07
-
1,320.44
9,531.85
67,000.00
4,702.86
1,851.50
168,045.11
312,926.79|Restricted
funds
2019
£
-
265,718.96
1,687.54
267,406.50
-
-
-
-
-
-
-
-
-
-|Total
2019
£
312,926.79
302,849.99
1,687.54| |---|---|---|---|---| |||||617,464.32| |||||95,169.13
33,528.13
11,815.40
26,703.44
4,435.68
71,103.07
1,320.44
67,000.00
1,851.50| |||||312,926.79| - 11 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **3 Voluntary income** |**Grants receivable for**
**core activities**
Barnes Trust - towards
music costs
Church Estates - Light,
heat and fabric
Friends - general
Fund raising
Governors
Lighting Faculty
Preservation Trust
Education Trust
Rectory
Music appeal
Furlough claims
Minster 900
Dorset Business Grant
Listed Places of Worship|-
-
26,750.00
453.50
-
-
-
-
-
-
24,199.36
859.00
7,500.00
6,137.34
65,899.20|6,600.00
41,609.14
-
-
5,779.03
96,590.79
8,000.00
1,200.00
-
38,449.01
-
-
-
-
198,227.97|6,600.00
41,609.14
26,750.00
453.50
5,779.03
96,590.79
8,000.00
1,200.00
-
38,449.01
24,199.36
859.00
7,500.00
6,137.34
264,127.17|-
-
31,306.15
5,824.88
-
-
-
-
-
-
-
-
-
-
37,131.03|20,160.00
48,484.75
-
-
29,784.21
133,000.00
30,000.00
2,740.00
1,550.00
-
-
-
-
-
265,718.96|20,160.00
48,484.75
31,306.15
5,824.88
29,784.21
133,000.00
30,000.00
2,740.00
1,550.00
-
-
-
-
-| |---|---|---|---|---|---|---| |||||||302,849.99| - 12 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **4 Charitable activities** |**Activities for**
**generating**
**funds**
**2020**
**£**
Statutory fees
-
Church House lettings
-
Use of Minster/car park rent
-
Wimborne Minster Limited - re salaries
4,951.14
Wimborne Minster Limited
-
4,951.14|**Church**
**activities**
**2020**
**£**
8,097.67
3,412.90
5,600.38
-
-
17,110.95|**Total**
**2020**
**Activities for**
**generating**
**funds**
**2019**
**£**
**£**
8,097.67
-
3,412.90
-
5,600.38
-
4,951.14
6,193.10
-
3,685.00
22,062.09
9,878.10|**Church**
**activities**
**2019**
**£**
17,535.50
10,234.75
12,236.00
-
-
40,006.25|**Total**
**2019**
**£**
17,535.50
10,234.75
12,236.00
6,193.10
3,685.00| |---|---|---|---|---| |||||49,884.35| - 13 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **5 Investments** |**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**general**
**2020**
**2020**
**2020**
**£**
**£**
**£**
CBF CE Deposit Fund interest PCC
215.41
59.06
-
8 Minster View
6,373.84
1,258.54
-
Other trusts
-
-
154.39
6,589.25
1,317.60
154.39|**Total**
Unrestricted
Restricted
Endowment
funds
funds
funds
general
**2020**
2019
2019
2019
**£**
£
£
£
274.47
230.84
185.97
-
7,632.38
6,376.62
2,413.80
-
154.39
-
-
149.89
8,061.24
6,607.46
2,599.77
149.89|Total
2019
£
416.81
8,790.42
149.89| |---|---|---| |||9,357.12| - 14 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**6**|**Raising funds**||| |---|---|---|---| |||**Unrestricted**|Unrestricted| |||**funds**|funds| |||**general**|general| |||**2020**|2019| |||**£**|£| ||Stewardship and cost of appeals|290.00|954.45| |||290.00|954.45| - 15 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **7 Church activities** |**Unrestricted**
**funds**
**2020**
**£**
_Missionary and charitable giving_
Planned
2,476.82
Diocesan parish share
94,903.00
Clergy expenses
2,211.03
Salaries and expenses (see note 8)
77,814.19
Heat, light and insurance
30,877.28
Minor fabric, repairs and maintenance
1,036.45
Service expenses
7,823.00
Depreciation of equipment
1,779.79
St Margarets
412.92
Church House expenses (see note 11)
7,231.90
Major fabric
21,225.44
Telephone
2,258.33
Postage, stationery and photocopying
7,116.18
Advertising
-
Computer and office equipment
3,448.96
Bank charges
780.00
Sundries
1,134.07
Repairs
276.73
Professional
6,272.37
Independent examiners fee
3,480.00
Subscriptions, gifts and licences
1,697.81
274,256.27|**Restricted**
**funds**
**2020**
**£**
-
-
-
14,381.65
9,868.11
6,960.93
502.60
2,499.26
-
-
304,694.58
-
-
-
72.00
-
1,680.00
-
8,051.10
-
60.00
348,770.23|**Total**
**2020**
**£**
2,476.82
94,903.00
2,211.03
92,195.84
40,745.39
7,997.38
8,325.60
4,279.05
412.92
7,231.90
325,920.02
2,258.33
7,116.18
-
3,520.96
780.00
2,814.07
276.73
14,323.47
3,480.00
1,757.81
623,026.50|**2019**
**£**
3,322.20
86,932.00
4,172.33
91,888.23
34,880.88
9,174.18
8,700.68
2,998.60
405.50
22,365.05
64,999.83
1,973.99
8,798.08
3,300.18
2,944.77
786.00
3,071.45
7,768.41
29,539.12
3,480.00
1,692.94| |---|---|---|---| ||||393,194.42| - 16 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**8**
**Staff costs**
Salaries and National Insurance contributions
Staff and choir expenses
Pension contributions|**2020**
**£**
85,884.89
2,620.61
3,690.34
92,195.84|**2019**
**£**
79,738.57
9,146.64
3,003.02| |---|---|---| |||91,888.23| ## **9 Charity Trustees** The PCC employed two Vergers on a job share basis, Organist & Director of the Choirs, Parish Secretary, Administrative Assistant, Financial Administrator and Shop Manager. No employee earned £60,000 or more. Two of the trustees were paid remuneration as deputy organists, the total paid to the two trustees was £780 (2019: £2,008). There were no other disclosable transactions in respect of PCC members, persons connected with them or related parties. ## **10 Employees** ## **Number of employees** The average monthly number of employees during the year was: |**2020**|**2019**| |---|---| |**Number**|**Number**| |6.00|6.00| To comply with the Pensions Act 2008, the PCC formalised the Staff Pension Scheme using NEST (National Employment Savings Trust) as their workplace pension scheme. ## **11 Church House expenses** |Heating and lighting
Cleaning and laundry
Water rates
Repairs, maintenance, replacement equipment and furnishings
Miscellaneous|**2020**
**£**
2,674.06
1,451.99
386.65
2,681.10
38.10
7,231.90|**2019**
**£**
3,017.05
3,658.43
480.16
14,304.96
904.45| |---|---|---| |||22,365.05| - 17 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **12 Other** |**Unrestricted**
**funds**
**general**
**2020**
Write off of loan to Wimborne Minster Limited
28,066.13
28,066.13|Total
£
2019
-| |---|---| ||-| ## **13 Net gains/(losses) on investments** ||**Restricted **|**Endowment**|**Total**|Restricted|Endowment|Total| |---|---|---|---|---|---|---| ||**funds**|**funds**||funds|funds|| ||**2020**|**2020**|**2020**|2019|2019|2019| ||**£**|**£**|**£**|£|£|£| |Revaluation of||||||| |investments|17,530.92|354.59|17,885.51|40,171.35|812.54|40,983.89| Realised gains and losses are recognised when investments are sold. Unrealised gains and losses are accounted for on revaluation of investments at 31st December. ## **14 Tangible fixed assets** |**Cost**
At 1 January 2020
Additions
At 31 December 2020
**Depreciation and impairment**
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
**Carrying amount**
At 31 December 2020
At 31 December 2019|**£**
57,325.14
11,534.94| |---|---| ||68,860.08| ||40,333.09
4,279.05| ||44,612.14| ||24,247.94| ||16,992.05| - 18 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **14 Tangible fixed assets** Fixed assets are capitalised in accordance with the accounting policy explained in note 1. An adjustment to reserves at 1 January 1996 of £9,850 was made on adoption of the policy to capitalise equipment not considered to be inalienable property, being the estimated value of such equipment at that date. ## **15 Fixed asset investments** |**Investments**
**Other**
**investments**
**£**
**£**
**Cost or valuation**
At 1 January 2020
275,050.67
28,066.13
Additions
1,317.60
-
Valuation changes
17,885.51
-
Write off of loan
-
(28,066.13)
At 31 December 2020
294,253.78
-
**Carrying amount**
At 31 December 2020
294,253.78
-
At 31 December 2019
275,050.67
28,066.13
**2020**
**£**
Investments comprise:
**Restricted funds**
Liberty Global Shares
230.45
Wimborne Minster Church Fund
43,648.70
11,347 CBF CE Investment Fund Income Units at market value
227,535.44
271,414.59
**Endowment funds**
Mallock
5,511.08
Wimborne Minster Church Fund
16,514.56
The Minster Churchyard Fund
813.55
22,839.19
294,253.78|**Total**
**£**
303,116.80
1,317.60
17,885.51
(28,066.13)
294,253.78
294,253.78
303,116.80
**2019**
**£**
230.45
39,440.34
212,895.28
252,566.07
5,156.49
16,514.56
813.55
22,484.60
275,050.67| |---|---| - 19 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **15 Fixed asset investments** ||**2020**|**2019**| |---|---|---| |Other investments comprise:|**£**|**£**| |**Unrestricted funds**||| |Interest-free loan to Wimborne Minster Limited|-|28,066.13| In the late 1980s Salisbury Diocese purchased the Curate's residence then at 8 Minster View for an agreed sum of £87,000; £35,000 was used to purchase 7,599 CBF Investment Fund units and £35,000 was invested in the CBF Deposit Fund. In 1995 £25,000 was transferred to purchase a further 3,748 IF units giving an historic cost of £60,000 for 11,347 compared with the market value quoted above. The terms of the endowment funds permit the PCC to use income from the investments as unrestricted funds whilst the capital cannot be taken to income. ## **16 Debtors** |**Amounts falling due within one year:**
Sundry debtors
Gift aid recoverable|**2020**
**£**
2,060.38
2,136.26
4,196.64|**2019**
**£**
3,497.48
4,324.25| |---|---|---| |||7,821.73| - 20 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**17**
**Cash at bank and in hand**
**Unrestricted**
National Westminster current and reserve accounts
CAF cash
Petty cash
CAF Cash no 2
**PCC with designations**
CAF Cash no 2
Steam Fair
**Total unrestricted**
**Restricted**
National Westminster current and reserve accounts
Church CCLA
CBF CE Deposit Fund (re 8 Minster View)
CBF CE Deposit Fund - Butcher Fund
CAF Cash no 2
**18**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2020**
**£**
826.88
32,903.46
292.81
51,750.76
85,773.91
(15,205.84)
2,134.61
(13,071.23)
72,702.68
-
1,000.00
3,359.96
1,000.00
81,260.16
86,620.12
159,322.80
**2020**
**£**
498.54
8,444.26
10,396.00
4,813.58
24,152.38|**2019**
**£**
761.66
7,978.83
1,130.62
67,375.84| |---|---|---| |||77,246.95| |||93,891.49
2,132.90| |||96,024.39| |||| |||173,271.34| |||100,000.00
1,000.00
16,721.07
1,000.00
81,298.14| |||200,019.21| |||| |||373,290.55| |||**2019**
**£**
561.35
56,681.85
11,219.99
4,076.05| |||72,539.24| - 21 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**19**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**With**
**designations**
**Restricted**
**Endowment**
**2020**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**£**
Fund balances at 31 December 2020 are represented by:
Tangible assets
10,085.47
-
14,162.47
-
Investments
-
-
271,414.59
22,839.19
Current
assets/(liabilities)
65,900.93
18,580.18
54,885.95
-
75,986.40
18,580.18
340,463.01
22,839.19|Total
Unrestricted
funds
With
designations
2020
2019
2019
£
£
£
24,247.94
10,236.26
-
294,253.78
28,066.13
-
139,367.06
62,662.34
21,544.29
457,868.78
100,964.73
21,544.29|Restricted
2019
£
6,755.79
252,566.07
224,366.41|Endowment
2019
£
-
22,484.60
-
22,484.60|Total
2019
£
16,992.05
303,116.80
308,573.04| |---|---|---|---|---| |||483,688.27||628,681.89| - 22 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **20 Reserves policy** The PCC's policy is to maintain sufficient reserves to enable the council's continued operation in the event of the temporary loss of use of the Minster for any reason. With particular reference to potential costs of maintaining the fabric of the Minster, the Council considers that the reserves are adequate but not excessive. ## **21 Related party transactions** i) Governors of Wimborne Minster ii) Wimborne Minster Preservation and Development Trust iii) The Association of Friends of Wimborne Minster iv) Wimborne Minster Church Estate v) Wimborne Educational Trust The above are all individually and separately constituted trusts, registered charities or associations which from time to time provide monies by way of grants to Wimborne Minster PCC for specified purposes. As relevant during the year, these amounts are disclosed in note 3 to the accounts. Wimborne Minster Limited is a company limited by guarantee, incorporated to operate the shop in the Minster. All profits made by the company are for the benefit of Wimborne Minster PCC and are paid over as a qualifying charge under Gift Aid legislation. The company is however a separate legal entity and its full assets, liabilities, income and expenditure are separately reported and are excluded from these accounts; only the net profits receivable by the PCC are included in these accounts. - 23 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CUTHBURGA, WIMBORNE MINSTER** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **22 Other activities** The following bodies are supported by the PCC but do not form part of the financial statements. ## Special Music Fund A special fund was established in 2011 under the auspices of the PCC and its objectives are supported by the PCC. |**Income**
Wedding and choir money
**Expenses**
Result for the year
Balance brought forward
Balance carried forward
**Support to Minster Charities**
Childrens Society
MARS
Wimborne Foodbank
**Lunch and Chat**|**2020**
**2019**
**£**
**£**
-
346.00
-
346.00
3,741.87
5,290.62
(3,741.87)
(4,944.62)
3,741.87
8,686.49
-
3,741.87
640.97
589.62
277.80
829.34
-
30.00
1,323.39
2,142.05| |---|---| - 24 -