ST. MARY’S CHURCH CHOLSEY End of Year Financial Statements
Year ending 2020
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• Introduction
• Reference and administrative information
The trustees, members of the PCC, at the time of this report, were as follows:
Vicar: Rev Andrew Petit (Chairman) Ex officio Churchwarden: David Newbold Ex officio Churchwarden: Alice Penney Ex officio Andrew Avery Elected Howard Gander Elected Treasurer: Malcolm Singh Elected Rose Noorduijn Elected Alex Hammond Elected Irene McClure Elected Mark Billinge Elected Deanery Synod member Rebecca Thomasson Elected Deanery Synod member Val Bolt Elected Gillie Newbold Elected
• Structure, governance and management
The PCC's official responsibility is to co-operate with the Vicar in promoting in the parish the whole mission of the church, pastoral, evangelistic and social ecumenical. It is also responsible for administering the income and expenditure of the church and for the maintenance of the church building, the church bungalow and the Laurence Hall.
The PCC teams have been as follows:
Leadership Team: Andrew Petit (convenor), Church Wardens, Alex Hammond, Richard Price
Children's Ministry Team: Howard & Joan Gander, Richard Price, Alex Hammond, Claire White, Irene McClure, Dave & Gillie Newbold.
Mission Support Team: Andrew Petit (convenor),, Anne Powell, Thea Price, Malcolm Singh
Property team: Alice Penney (convenor), Howard Gander, David Newbold.
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In preparing the financial statements, the PCC is required to:
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Select suitable accounting policies and then apply them consistently
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Make judgements and estimates that are reasonable and prudent
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Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will remain in operation.
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Financial Review
The overall income received for the year 2020 was £120, 696; for 2019 this was £139,277 and represents a decrease of 14% in the Church's annual income. The primary reason for this decrease was the loss of income due to the Covid-19 pandemic affecting the country.
Recurring voluntary giving in 2020 was £ 87,247 down from £105, 667 in 2019. There was also an individual (anonymous) donation of £10,000 in October 2020 to the PCC's restricted Mission Giving fund.
Though badly affected by the Covid-19 pandemic, hire and rent of church buildings produced an income of £11,800 down from £18,921 in 2019. This includes the hire of the Laurence Hall and Church which decreased from £8529 in 2019 to just £1,500 in total. There was rental income from the Church Bungalow of £10,400, up from £10,140 in 2019.
In 2020 income from investments decreased slightly from £483 to £340 and includes interest payments from the Stevenson bequest to the Laurence Hall account and interest from the Louisa Martha Minshull’s charity to the General account for the benefit of the poor of the village.
Expenditure for the year increased by 1% to £134,863, up from £133,389 in 2019. Church current expenditure (excluding charitable donations) represented £77, 819 (£94,597 in 2019), with the most significant items being Parish Share of £53,645 (£ 51, 376 in 2019) and Church Administration of £10,319 (£16,127 in 2019).
Giving from the church to other charitable causes in 2020 totalled £26,335 (£19,478 in 2019) excluding CAP donations. This comprised of £16,910 (£9,989 in 2019) allocated from Church funds and £9,425 from matched giving (£9,489 in 2019). There was an additional £6,000 donated to the Wallingford and Cholsey CAP Debt Centre.
Expenditure on the Church building was £19,312 (£7, 496 in 2019).
Across all accounts in 2020 there was a total deficit of £14,166 (£5, 888 in 2019).
For the Church account (unrestricted funds) there was a deficit of £3,378 (£2,122 deficit in 2019), for designated funds there was a surplus of £3,544 and for restricted funds there was a deficit of £14,332 (deficit of £3,623 in 2019).
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Indepondent Examinefs Report for the year ended 31 December 2020 Indepgndwrt Examingrfs Roport to the St Marfs Church Chokney Parochial Church Council Thi5 report on th¢ fil01a1 slat¢nrnts of the PCC for the year ended 31 December 2020, which ate set out on es 6 to 11 15 in rCS of wminalion wri¢d in COrda[ with th¢ Chwch AccJ)unting Reguknus 20¢ Cth¢ RcguIi(w) aNI 5.43 of th¢ Chariti¢5 Act 1993 (Mhc ACVI. RgSPo¢1ive r88pomibiliti08 of tho PCC and Examinor Th¢ ¢haTity's tnrn the PCC. are respOlbIe for the preparation of the financial statements. The PCC ¢onsid¢rthat audit is not requir for this y¢ar under section 43(2) of the Act and that an indqKn ¢xa1natIOn 15 n¢¢d. li is my resbility this r¢I OD dKJse financial statements in p&cordance Wtth the tenns of the Regulatto]]s. Basis of an indowbdent Examinets report My examination was carried out in accordance with the General Direetions given by the Chlty Commission under s.43(7Xb) of the ACL An examIOn includes a review of the accounting records kept by the PCC and a ¢ompari9)n of the financial statenwlts with those records. It also includes ¢onsidcrntion of any wiusuai ilems ordis¢loswes in the finala1 ststements and sttking explan10$ from you &s biletS Concerni any such matt¢rs. Th¢ procedures undertaken do not provtde all the evidence that would required in an audlt COD5equently. I do nol express an audit opinion on th¢ view giv¢n by the fu)ancial seMents. Indendent Examlns statement In ¢onne¢tion with my examinatio no nmtter has come to my attention: (l) which give5 reasonable cause to iylieve that in any DterIal Irspxt the requi to kw M)unting records in Aceordance with section 41 of the ACL. and c) to which. in my Opinio attention should be dTawn in ord¢r ¢Dabl¢ a proper understs* of the David Gibbo]Js D4t¢ 31° March 2021 Page 5 Page 5
Statement of Financial Activities
| Unrestricted Restricted Endowment Total Prior year funds funds funds funds total funds |
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|---|---|
| Income and endowments from: Donations and legacies Income from charitable activities Other trading activities Investments Total income Expenditure on: Raising funds Expenditure on charitable activities Other expenditure Total expenditure Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Designated Giving Laurence Hall Laurence Hall Rebuild Restricted Capital Christians Against Poverty Mission Giving Restoration Endowment Stevenson |
£87,247 £20,275 — £107,523 £117,052 £2,313 £127 — £2,440 £11,558 £10 — — £10 £40 £10,719 £2 — £10,722 £10,626 |
| £100,292 £20,404 — £120,696 £139,277 £6 — — £6 — £98,710 £34,737 — £133,447 £131,942 £1,409 — — £1,409 £1,446 |
|
| £100,126 £34,737 — £134,863 £133,389 |
|
| £166 (£14,332) — (£14,166) £5,888 £8,500 — — £8,500 £17,722 (£8,500) — — (£8,500) (£17,722) |
|
| £166 (£14,332) — (£14,166) £5,888 |
|
| £58,150 £23,980 £4,508 £86,639 £80,750 |
|
| £58,316 £9,648 £4,508 £72,473 £86,639 £26,671 — — £26,671 £38,549 (£3,825) — — (£3,825) (£1,630) £8,990 — — £8,990 £1,383 £26,480 — — £26,480 £19,848 — £13,018 — £13,018 £13,018 — £3,671 — £3,671 £3,908 — £4,296 — £4,296 £1,220 — (£11,338) — (£11,338) £5,832 — — £4,508 £4,508 £4,508 |
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Balance sheet
| Total funds Prior year funds |
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| Current assets Debtors Investments Cash at bank and in hand Net current assets less current liabilities Total assets less current liabilities Total net assets less liabilities Represented by Unrestricted General fund Designated Laurence Hall Rebuild Giving Laurence Hall Restricted Mission Giving Christians Against Poverty Restoration Capital Endowment Minshull Stevenson Funds of the church |
£1,053 £1,386 £4,508 £4,508 £66,911 £80,744 |
| £72,473 £86,639 |
|
| £72,473 £86,639 |
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| £72,473 £86,639 |
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| £72,473 £86,639 £26,671 £38,549 £26,480 £19,848 (£3,825) (£1,630) £8,990 £1,383 £4,296 £1,220 £3,671 £3,908 (£11,338) £5,832 £13,018 £13,018 — — £4,508 £4,508 |
|
| £72,473 £86,639 |
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Statement of assets and liabilities
| This year Last year |
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| Cash at bank and in hand NatWest Current Account Laurence Hall Rebuild (Designated) - General fund (Unrestricted) - Giving (Designated) - Mission Giving (Restricted) - Christians Against Poverty (Restricted) - Laurence Hall (Designated) - Restoration (Restricted) - NatWest Business Reserve Account General fund (Unrestricted) - Barclays Community Account General fund (Unrestricted) - Giving (Designated) - Restoration (Restricted) - Barclays Business Premium Account Restoration (Restricted) - CCLA (CBF) General Deposit Account General fund (Unrestricted) - Mission Giving (Restricted) - Capital (Restricted) - CCLA (CBF) Restoration Deposit Account Restoration (Restricted) - CCLA (CBF) Mission Giving Account Mission Giving (Restricted) - Restoration (Restricted) - Total for Cash at bank and in hand Debtors Accounts Receivable Laurence Hall Rebuild (Designated) - General fund (Unrestricted) - Giving (Designated) - Christians Against Poverty (Restricted) - Restoration (Restricted) - Total for Debtors Investments CCLA (CBF) Stevenson Stevenson (Endowment) - Total for Investments Grand total |
£26,456 £19,716 (£6,341) £5,486 (£3,837) (£1,637) £3,311 £236 £3,573 £3,812 £8,990 £1,383 (£19,080) (£416) |
| £13,073 £28,580 £9,269 £9,261 |
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| £9,269 £9,261 £103 £73 £7 £7 £7,406 £5,906 |
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| £7,517 £5,987 £30 £30 |
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| £30 £30 £22,734 £22,601 £586 £586 £13,018 £13,018 |
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| £36,339 £36,205 £282 £281 |
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| £282 £281 £398 £398 £0 — |
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| £399 £398 |
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| £66,911 £80,744 £23 £131 £904 £1,127 £5 — £97 £96 £22 £31 |
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| £1,053 £1,386 |
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| £1,053 £1,386 £4,508 £4,508 |
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| £4,508 £4,508 |
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| £72,473 £86,639 |
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Fund movement by type
| Opening Incoming Outgoing Transfers Gains/losses Closing |
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| LHallReb - Laurence Hall Rebuil Designated Sub-total for LHallReb General - General fund Unrestricted Sub-total for General Giving - Giving Designated Sub-total for Giving MisGiv - Mission Giving Restricted Sub-total for MisGiv CAP - Christians Against P Restricted Sub-total for CAP LHall - Laurence Hall Designated Sub-total for LHall Resto - Restoration Restricted Sub-total for Resto Capital - Capital Restricted Sub-total for Capital Minhull - Minshull Endowment Sub-total for Minhull Steven - Stevenson Endowment Sub-total for Steven Grand total |
£19,848 £8,179 £1,547 — — £26,480 |
| £19,848 £8,179 £1,547 — — £26,480 £38,549 £74,441 £77,819 (£8,500) — £26,671 |
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| £38,549 £74,441 £77,819 (£8,500) — £26,671 (£1,630) £6,215 £16,910 £8,500 — (£3,825) |
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| (£1,630) £6,215 £16,910 £8,500 — (£3,825) £1,220 £12,500 £9,425 — — £4,296 |
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| £1,220 £12,500 £9,425 — — £4,296 £3,908 £5,762 £6,000 — — £3,671 |
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| £3,908 £5,762 £6,000 — — £3,671 £1,383 £11,456 £3,848 — — £8,990 |
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| £1,383 £11,456 £3,848 — — £8,990 £5,832 £2,141 £19,312 — — (£11,338) |
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| £5,832 £2,141 £19,312 — — (£11,338) £13,018 — — — — £13,018 |
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| £13,018 — — — — £13,018 — — — — — — |
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| — — — — — — £4,508 — — — — £4,508 |
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| £4,508 — — — — £4,508 |
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| £86,639 £120,696 £134,863 — — £72,473 |
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Analysis of income and expenditure
| Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies Covenants and Gift Aid £49,994 £6,751 £16,322 — £73,068 £84,344 General Donation £200 — — — £200 £759 Misc. Donations £120 £3,000 — — £3,120 £26 Collections — — — — — £132 Donations appeals etc — £3,000 — — £3,000 £5,000 Tax recoverable on Gift Aid £11,530 £1,600 £3,952 — £17,083 £16,500 Misc. Income £1,050 £10,000 — — £11,050 £9,474 Other funds generated — — — — — £815 Total £62,896 £24,351 £20,275 — £107,523 £117,052 Income from charitable activities Fees — — — — — £1,500 Moulsford Church £816 — — — £816 £803 Hire of Laurence Hall — £1,414 — — £1,414 £8,529 Hire of Church £83 — — — £83 £252 Coffee Shop — — — — — £234 Bell Tower — — £127 — £127 £239 Total £899 £1,414 £127 — £2,440 £11,558 Other trading activities Receipts to Petty Cash (copying etc.) £10 — — — £10 £40 Total £10 — — — £10 £40 Investments NatWest Bank Interest £8 — — — £8 £18 Barclays Bank Interest £7 — £0 — £7 £0 CCLA (CBF) Mission Giving — — £1 — £1 £2 CCLA (CBF) General £215 — — — £215 £432 CCLA (CBF) Restoration — — £1 — £1 £2 CBF Stevenson — £42 — — £42 — CBF Minshull £23 £42 — — £66 £29 Bungalow Rent £10,380 — — — £10,380 £10,140 Total £10,634 £85 £2 — £10,722 £10,626 |
Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies Covenants and Gift Aid £49,994 £6,751 £16,322 — £73,068 £84,344 General Donation £200 — — — £200 £759 Misc. Donations £120 £3,000 — — £3,120 £26 Collections — — — — — £132 Donations appeals etc — £3,000 — — £3,000 £5,000 Tax recoverable on Gift Aid £11,530 £1,600 £3,952 — £17,083 £16,500 Misc. Income £1,050 £10,000 — — £11,050 £9,474 Other funds generated — — — — — £815 Total £62,896 £24,351 £20,275 — £107,523 £117,052 Income from charitable activities Fees — — — — — £1,500 Moulsford Church £816 — — — £816 £803 Hire of Laurence Hall — £1,414 — — £1,414 £8,529 Hire of Church £83 — — — £83 £252 Coffee Shop — — — — — £234 Bell Tower — — £127 — £127 £239 Total £899 £1,414 £127 — £2,440 £11,558 Other trading activities Receipts to Petty Cash (copying etc.) £10 — — — £10 £40 Total £10 — — — £10 £40 Investments NatWest Bank Interest £8 — — — £8 £18 Barclays Bank Interest £7 — £0 — £7 £0 CCLA (CBF) Mission Giving — — £1 — £1 £2 CCLA (CBF) General £215 — — — £215 £432 CCLA (CBF) Restoration — — £1 — £1 £2 CBF Stevenson — £42 — — £42 — CBF Minshull £23 £42 — — £66 £29 Bungalow Rent £10,380 — — — £10,380 £10,140 Total £10,634 £85 £2 — £10,722 £10,626 |
|---|---|
| £62,896 £24,351 £20,275 — £107,523 £117,052 — — — — — £1,500 £816 — — — £816 £803 — £1,414 — — £1,414 £8,529 £83 — — — £83 £252 — — — — — £234 — — £127 — £127 £239 |
|
| £899 £1,414 £127 — £2,440 £11,558 £10 — — — £10 £40 |
|
| £10 — — — £10 £40 £8 — — — £8 £18 £7 — £0 — £7 £0 — — £1 — £1 £2 £215 — — — £215 £432 — — £1 — £1 £2 — £42 — — £42 — £23 £42 — — £66 £29 £10,380 — — — £10,380 £10,140 |
|
| £10,634 £85 £2 — £10,722 £10,626 |
|
| INCOME TOTAL | £74,441 £25,850 £20,404 — £120,696 £139,277 |
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EXPENDITURE
| EXPENDITURE | |
|---|---|
| Total Unrestricted Designated Restricted Endowment This year Last year Raising funds Fees paid to fund raisers £6 — — — £6 — Total £6 — — — £6 — Expenditure on charitable activities Adventure Plus — £1,400 £1,400 — £2,800 £3,500 Balsam Family Project — £100 — — £100 — Carlise College — £1,400 £1,400 — £2,800 £2,500 CHOKO — — — — — £2,500 Eric Twine — £1,400 £1,400 — £2,800 £2,525 Go Mad Tanzania — £5,300 — — £5,300 — Message Trust — £1,400 £1,400 — £2,800 £2,500 Missionary Aviation Fellowship — £1,400 £1,400 — £2,800 £2,500 Tear Fund DEC Appeal — £4,000 £2,375 — £6,375 — Tear Fund Harvest Appeal — £460 — — £460 — Wednesday Church — £50 £50 — £100 £100 Bound For Bethlehem — — — — — £2,854 Nasio Trust — — — — — £500 Christians Against Poverty — — £6,000 — £6,000 £5,500 Parish Share etc £53,645 — — — £53,645 £51,376 Ministry £1,824 — — — £1,824 £2,662 Vicars Expenses £1,381 — — — £1,381 £1,057 Church Insurance £3,481 — — — £3,481 £4,234 Church Office - Telephone and Internet £376 — — — £376 £97 Church Maintenance and Minor Repairs £1,743 — — — £1,743 £2,422 Cleaning £216 £941 — — £1,157 £3,412 MIisc. Parish Expenses (£150) — — — (£150) £8,931 Services General Upkeep £123 — — — £123 £396 Activities - Kids Club Creche 9+ (£43) — — — (£43) £118 Activities Flower Fund £31 — — — £31 — Administration £10,319 — — — £10,319 £16,127 Visiting speakers / locums (£60) — — — (£60) £1,250 Church running - electric £1,457 — — — £1,457 £773 Church running - water £97 — — — £97 £188 Church running - oil £1,958 — — — £1,958 £2,548 Laurence Hall running - electricity — £963 — — £963 £2,294 Laurence Hall running - insurance — £1,189 — — £1,189 £1,273 Laurence Hall running - maintenance — £86 — — £86 £633 Laurence Hall running - water — £301 — — £301 £172 Church major repairs - structure — — £17,312 — £17,312 £840 Church major repairs - fees — — £2,000 — £2,000 £21 Laurence Hall + major repairs - structur — £1,547 — — £1,547 £6,134 Laurence Hall + interior and exterior de — £365 — — £365 — Total £76,403 £22,306 £34,737 — £133,447 £131,942 Other expenditure Bungalow Maintenance and Minor Repairs £1,409 — — — £1,409 £1,446 Total £1,409 — — — £1,409 £1,446 |
Total Unrestricted Designated Restricted Endowment This year Last year £6 — — — £6 — |
| £76,403 £22,306 £34,737 — £133,447 £131,942 £1,409 — — — £1,409 £1,446 |
|
| £1,409 — — — £1,409 £1,446 |
|
| EXPENDITURE TOTAL | £77,819 £22,306 £34,737 — £134,863 £133,389 |
| GRAND TOTAL | (£3,378) £3,544 (£14,332) — (£14,166) £5,888 |
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