# **ST. MARY’S CHURCH CHOLSEY End of Year Financial Statements** **Year ending 2020** _Page 1_ ## • **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. _Page 2_ In preparing the financial statements, the PCC is required to: - Select suitable accounting policies and then apply them consistently - Make judgements and estimates that are reasonable and prudent - Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will remain in operation. _Page 3_ ## **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). _Page 4_ 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¢ fil￿￿01a1 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¢ RcguI*i(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 respO￿lbIe 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 ¢xa￿1natIOn 15 n¢¢d￿. li is my res￿bility 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 Ch￿lty Commission under s.43(7Xb) of the ACL An examI￿On 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 fina￿la1 ststements and sttking explan￿10￿$ from you &s bi￿letS 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 s￿eMents. Inde￿ndent Examln*s statement In ¢onne¢tion with my examinatio￿ no nmtter has come to my attention: (l) which give5 reasonable cause to iylieve that in any D￿terIal 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**| |---|---| |**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| _Page 6_ ## **Balance sheet** ||**Total funds**
**Prior year funds**| |---|---| |**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**| ||**£72,473**
**£86,639**| ||**£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**| _Page 7_ ## **Statement of assets and liabilities** ||**This year**
**Last year**| |---|---| |**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| ||**£9,269**
**£9,261**
£103
£73
£7
£7
£7,406
£5,906| ||**£7,517**
**£5,987**
£30
£30| ||**£30**
**£30**
£22,734
£22,601
£586
£586
£13,018
£13,018| ||**£36,339**
**£36,205**
£282
£281| ||**£282**
**£281**
£398
£398
£0
—| ||**£399**
**£398**| ||**£66,911**
**£80,744**
£23
£131
£904
£1,127
£5
—
£97
£96
£22
£31| ||**£1,053**
**£1,386**| ||**£1,053**
**£1,386**
£4,508
£4,508| ||**£4,508**
**£4,508**| ||**£72,473**
**£86,639**| _Page 8_ ## **Fund movement by type** ||**Opening**
**Incoming**
**Outgoing**
**Transfers Gains/losses**
**Closing**| |---|---| |**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| ||**£38,549**
**£74,441**
**£77,819**
**(£8,500)**
**—**
**£26,671**
(£1,630)
£6,215
£16,910
£8,500
—
(£3,825)| ||**(£1,630)**
**£6,215**
**£16,910**
**£8,500**
**—**
**(£3,825)**
£1,220
£12,500
£9,425
—
—
£4,296| ||**£1,220**
**£12,500**
**£9,425**
**—**
**—**
**£4,296**
£3,908
£5,762
£6,000
—
—
£3,671| ||**£3,908**
**£5,762**
**£6,000**
**—**
**—**
**£3,671**
£1,383
£11,456
£3,848
—
—
£8,990| ||**£1,383**
**£11,456**
**£3,848**
**—**
**—**
**£8,990**
£5,832
£2,141
£19,312
—
—
(£11,338)| ||**£5,832**
**£2,141**
**£19,312**
**—**
**—**
**(£11,338)**
£13,018
—
—
—
—
£13,018| ||**£13,018**
**—**
**—**
**—**
**—**
**£13,018**
—
—
—
—
—
—| ||**—**
**—**
**—**
**—**
**—**
**—**
£4,508
—
—
—
—
£4,508| ||**£4,508**
**—**
**—**
**—**
**—**
**£4,508**| ||**£86,639**
**£120,696**
**£134,863**
**—**
**—**
**£72,473**| _Page 9_ ## **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| _Page 10_ ## **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| _Page 11_ Page 12