# ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Endowment|XQXhL|TQTAL| |---|---|---|---|---|---|---|---|---| |||||Funds|Funds|Funds||Em@| ||||||||BlJPM|~12.1+| |Income and Endowments|from:|||||||| |Donations and Legacies|||2a|50,728|21,586||72,314|52,001| |Charitable Activities|||2b|1,427|||1,427|1,030| |Other trading activities|||2C|18,087|||18,087|29,590| |Investments|||2d|277|||277|352| |Other Income|||2e|||||| |Total incoming
resources||||70,519|21,586||92,105|82,973| |Resources expended||||||||| |falsi ngfunds|||3a|51|||51|50| |Charitable
Activities|||3b|66,482|2,935||69,417|77,859| |Other trading activities|||3C|4,455|||4,455|13,111| |Total Resources expended||||70,988|2,935||73,923|91,020| |Net incoming (outgoing) resources||||(469)|18,651||18,182|(8,047)| |Other recognised
gains/losses||||||||| |GainstPosses)
on revaluation||offixed||||||| |assets||||||||| |Gains/(losses)
on investment||assets|8|||||972| |Net movement offunds||||(44)|18,651||18,607|(7,075)| |Total funds brought forward
January 2020||at 1st||51+35|3,188|1,250|55,673|62,748| |Total funds carried forward||at31st||||||| |December 2020||||51,191|21,839|1/50|74,280|55,673| ## ||||Note||2020|2019| |---|---|---|---|---|---|---| |Fixed Assets||||||| |Intangible|assets|||||| |Tangible fixed Assets|||8b||?6,319|26,319| |Heritage Assets||||||| |Investment|Assets||Sa|||6,172| |Total fixed|assets||||32,916|32,491| |Current Assets||||||| |Stock||||||| |Debtors||||6g65||2,753| |Short Term Deposits||||21,670||21,670| |Cash atBank|and in hand|||15@15||2,881| |Total current|assets|||43@50||27,304| |Liabilites||||||| |Creditors: amounts||falling due within one||||| |yeai'||||||(4,122)| |Net current assets|||||41@64|23,182| |Total assets less current liabiVities|||||74@80|55,673| |FUNDS|||9|||| |Unrestricted
funds|||13||51,191|51~5| |Restricted|funds||13||21,839|3,188| |Endowment|funds||13||1,250|1,250| ||||||74+80|55,673| ## |||||Total|Total|| |---|---|---|---|---|---|---| |||||Funds|Funds|Notes| |||||2020|2019|| |Cash flows from operating
activities||||||| |Pet cash provided by (used in) operaling||actlvi lies||12,129|(6,976)|| |Cash flows from investing
activities||||||| |Dividends,
interest and rentsjom investments||||305|351|| |Proceedfrom the sale ofproperly, plant|and equipmenl|||||| |Purchase ofproperty, plant and equipment||||||| |Proceedfrom the sale %nvestments||||||| |Purchase ofinveslments||||||| |Pet cash provided
by (used in) investing|activities|||305|351|| |Cash flows from flnancing
activities||||||| |Repayment ofborrowing||||||| |Cash ittfiowsjom
new borrowing||||||| |Receipt ofendowmenl||||||| |Change in cash and cash equivalents
in the reporting|||period|12,434|(6,625)|| |Cash and cash equivalents
at the beginning ofthe reporting period||||24,551|31,176|| |Cash and cash equivalents
at the end ofthe reporting|||period|36,985|24,551|| |Reconciliation ofnet incomel(expenditure)||to net cash flow from operating||||| |activities||||||| |Pet incomel(expenditure)
for the reporting||period (asper statement of||||| |financial activities||||18,182|(8,047)|| |Adjustments
for:||||||| |Depreciation
charges||||||| |(Gains)/Losses
on investments||||||| |(Dividends, inlerest and rentsfrom investmenb)||||(305)|(351)|| |Loss/(Profit)
on the sale of fixed assets||||||| |(increase)/decrease
in stocks||||||| |(increase)/decrease
in debtors||||(4,211)|537|| |increasel(decrease)
in creditors
Net cash provided
by (used in) operating||activities||(1,537)
1?„1?9|8&5
~6876|| ## ## ## ## ## ## ## |d)|Investment
income|||||||| |---|---|---|---|---|---|---|---|---| |—Dividends
are accounted for when due and payable. Interest entitlements
are accounted||||for as they accrue.||||| |e)|All other income|||||||| ||All other income is recognized in accordance with the above overall policy.|||||||| |f)|Gains and losses in investments|||||||| ||Realised gains are recognized
when the investments
are sold.|||||||| ||Unrealised
gains and losses are accounted for on revaluation
at 31December|||||||| ||Expenditure|||||||| ||Expenditure
is recognised
when there is evidence ofentitlement,|payment||is probable,||and|the|| |amount|can be measured
reliably|||||||| |a)|Grants|||||||| ||Grants and donations
are accounted for when paid over, or when awarded where the award creates||||||a|| ||binding obligation
on the P.C.C.|||||||| ||Church Activities|||||||| ||The diocesan parish share is accounted for on an annual basis, refiecting the||allocation set||by|our Deanery.||| ||Any parish contribution
unpaid at 31December isprovided forin these accounts|||as an operational|||(though|| ||not a legal) liability and is shown as a creditor in the balance sheet.|||||||| ||Fixed assets|||||||| |i.|Tangible Gxed assets|||||||| ||Consecrated
and beneficed property ofany kind is excluded &om the|accounts by s.10(2)ofthe Charities||||||| ||Act 2011.Movable church furnishings
held by the Rector and Churchwardens||on|special trust||for the||| ||P.C.C.and which require afaculty for disposal are accounted as inalienable||property unless consecrated.|||||| ||They are listed in the church's
inventory,
which can be inspected but|are not|included
in the financial|||||| ||statements. Forother property acquired prior to 2000 there is insuKcient
cost information||||available|||and| ||therefore the cost ofsuch assets is not stated in the financial statements.|||||||| ||AII expenditure
on consecrated orbeneficed buildings
and individual|items costing under X1,000are||||||| ||written offwhen they were incurred.|||||||| ||Depreciation|||||||| ||Depreciation is calculated to write down the costoftangible fixed assets, excluding &eehold properties,|||||||| ||over their expected useful lives. The rates generally
applicable are:|||||||| ||Fixtures and fittings
20%|||||||| ||Audio Visual equipment
33%|||||||| ||Office equipment
25%|||||||| ||No depreciation
is provided
on &eehold buildings
as the useful economic life ofthese assets exceeds|||||||50| ||years and residual
values so high that potential
depreciation
would be|immaterial.||Itis the|PCC's policy to|||| ||maintain
these assets in a continual
state ofsound repair.
Resulting &om regular impairment|||||reviews,||| |i'|provision
will be made ifthere has been any permanent
diminution
in
Investments|value||||||| ||Investments
are stated at market value at the balance sheet date.|||||||| |d)|Current Assets|||||||| ||Amounts
owing to the P.C.C.at 31December in respect offees, rents|or other income are|||shown as|||debtors| ||less provision for amounts
that may prove uncollectable.
Short term deposits include cash held on deposit either with the C.B.F. Church of England||||funds, or|||at the| ## |||NOTES TO THE FINAN|CIAL|STATEMENTS F|ORTHE YE|AR ENDED 31D|ECEMBER2020|| |---|---|---|---|---|---|---|---|---| ||2|INCOMING RESOURCES||||||| |||||Unrestricted|Restricted|Endov ment|Total Funds|| |||||Funds|Funds|Funds|2020|2019| |||||f|f|||| ||2|Analysis ofincome and endowments||||||| |2a||Donations and Legacies||||||| |||Planned Giving (excltax refunds)||23232|||23P32|22@30| |||Planned
Giving (no tax refunds)||3,409|||3,409|4,609| |||Loose cash collections||1,204|||'1,204|3,617| |||Gift Days|||1,764||1,764|3,451| |||Sundry donations
and appeals||12,059|15,926||27,985|8,957| |||Income TaxRecoverable||8,230|3,896||12,126|8,437| |||Grants||2,594|||2,594|| |||Legacies||||||| |||||50,728|21,586||72,314|52,001| |2b||Charitable
Activities||||||| |||Fees from weddings
etc||1,427|||1,427|1,030| |||||1,427|||1,427|1,030| |2c||Other trading activities||||||| |||Fund raising events||||||| |||Church Centre Lettings||8,174|||8,174|19,317| |||Rent from letting parish house||9,913|||9,913|10,273| |||Bookstall||||||| |||||18,087|||18,087|29,590| |2d||Investments||||||| |||Dividends
on CBFInvestment|fund|185|||185|179| |||CBFdeposit interest||92|||92|173| |||||277|||277|352| |2e||Other Income||||||| |||Insurance
claims||||||| |||Training course receipts||||||| ||||CE|70,519|21,586||92,105|82,973| ## |||||CONTINUED||||| |---|---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Endomncnt|Total|Funds| |||||Funds|Funds|Funds|2020|2019| ||3|An~vis ofexpenditure|on|||||| |3a||Raising funds||||||| |||Special appeal costs||||||| |||Fund-raising
events||||||| |||Stewardship
costs||51|||51|50| |||||Sl|||51|50| |3b||Charitable
Activities||||||| |||Missionary
and charitable|giving:|340|2,501||2,841|5,072| |||Ministry
costs||||||| |||Diocesan Parish Share||37,017|||37,017|44,500| |||Other clergy costs||2,359|||2,359|1,500| |||Salaries and honoria||11,478|||l1,478|11,080| |||Church
running
expenses||9,400|||9,400|11,624| |||Church Maintenance/Improvements||3,715|434||4,149|1,621| |||Bookstall||||||| |||Training
and Mission||||||504| |||Upkeep ofservices||615|||615|697| |||Upkeep ofchurch grounds||442|||442|215| |||StMatthews
Sunday Club||36|||36|66| |||Parish Newsheet||||||| |||Bank Charges||||||| |||Depreciation||0|||0|0| |||Governance - see note 6||1,080|||1,080|980| |||||66,482|2,935||69,417|77,859| |3c||Other trading activities||||||| |||Church Centre Hiring Costs||||||| |||Church Centre Running|Costs|4,455|||4,455|13,111| |||Bookstall costs||||||| |||Other Trading costs||||||| |||||4,455|||4,455|13,111| |||TOTAL RESOURCES EXPENDED||70,988|2,935||73,923|91,020| |||STMATTHEWS|STMATTHEWS|STMATTHEWS|CHURCH PAROCHIAL|CHURCH PAROCHIAL|CHURCH PAROCHIAL|CHURCH PAROCHIAL|CHItRCH COUNCIL|CHItRCH COUNCIL|CHItRCH COUNCIL|||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||NOTES TOTHE FINANCIAL STATEMENTS FORTHE|||||||YEAR ENDED|31DECEMlER 2020||||| |||||||CONTINUED||||||||| |||||||Unrestricted|||Restricted||Endowment|Total|Funds|| |||||||Funds|||Funds||Funds|2020||2019| |||||||f|||f||||f|| ||4|Missionary
and charitable||gilvtng:||||||||||| |||Overseas||||||||||||| |||Tear Fund|||||||||638|63$||| |||Stroke Association||||||||||||| |||Barnabas Fund||||||||||||| |||Charles Scmwaga|||||||||63&|63$||| |||Home||||||||||||| |||Simeons' Trustees||||||||||||| |||Bccontrce Church|||||||||638|63&||| |||StMichael's Hospice||||||||||||| |||Evangelical
Alliance|||||||90|||90||90| |||Donations to Church Schools|||||||200|||200||200| |||Christians
Against Poverty|||||||50|||637||$46| |||Snowflake Trust (winter night shelter)||||||||||||1,039| |||School Christmas
Services||||||||||||119| |||Friends ofConquest Hospital||||||||||||| |||Sussex Gospel Partnership||||||||||||| |||Bishop ofChichestcr Discretionary|||Fund|||||||||192| |||Church together in Hastings and St|||I.conards|||||||||50| ||||||||||340||2,501|2,841||5,072| ||5|StaffCosts||||||||||||| |a||tVages and Sakrries||||||||||||| |||Caretaker/Cleaner|||||||4342|||4,342||4~4| |||Administmtor|||||||6,65$|||6,65$||6,531| |||Orymim
'Social Security costs|||||||450
28|||450
28||325| |||||||||1,478||||11,478||11080| |||Wages and Salaries||||||||||||| |||a. During the year the PCC employed||||a CaretakeriCleaner,||aParish Admmistrator|||and several Organists.|||| |||No payment
was large enough to attract social security|||||costs.|||||||| |||b.No members ofthe PCC rcccived any remuneration|||||from|the|Councils funds.|A|smalI immaterial|||| |||portion ofthc cxpcnscs paid to the Rector may have related||||||tohis services as chairman ofthe P.C.C.There||||||| |||were no disclosablc transactions
in respect ofPCC members,||||||nor persons closely||connected to them, nor||||| |||other related parties.||||||||||||| |||||||Unrestricted|||||Endowment|Total|Funds|| |||||||Funds|||||Funds|2020||2019| |||||||f|||||||f|| ||6|Governance||||||||||||| |||Independent
examination|fee||||||1,060|||1,060||960| |||Costofannual
accounts|||||||20|||20||20| ||||||||||1,0$0|||1,080||980| ## ## |NOT||ES TOTHE~ANC|IAL S|T|ATEMENTS FORTH|ATEMENTS FORTH|E YEA|RE8%)|ED31DEC||EMBER|2020|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||COI88"IINUED||||||||| ||||Unrestricted|||Restricted|Endowment||Total||Funds|Total|Funds| |10 Debtors
Income Tax Recoverable|||Funds
f~6|||Funds
3,896|Funds||f||2020
6,132||2019
f
2,492| |Prepayments
and||Acaued Interest|||688||||||688||261| |Other Debtors|||||145||||||145||| |||||3,869||3,896|||||6965||2,753| |I 1 Creditors|||||||||||||| |Alnounts
falling||duc within one year|||||||||||| |Deferred Income||||f,|||||||||f| |Accruals ofutiTity and other costs||||1,475|||||||1,475||3,246| |Creditors for goods and services|||||347||||||347||40| |Other creditors|||||764||||||764||836| |||||2,586|||||||2,586||4122.00| |12 Creditors|||||||||||||| |amounts
falling
Defened Income|due after more than||one year
f||||||||||| |Accruals ofutility||and other costs|||||||||||| |Creditors for goods and services|||||||||||||| |Other creditors|||||||||||||| |13 Statement offunds|||Bal b/fwd|||||||||Bal c/fwd|| ||||1stJan||||||Transfers,|other||31stDec|| ||||2020|||Incolne|Expenditure||gains and|losses||2020|| |Unrestt1cted
Funds|||||||||||||| |General fund|||42,053|||69/19|(70,988)||||424||41,009| |Buildings/Fabric||fund - designated||1,897|||||||||1,897| |Equipment
/ Improvements
-designated||||7,285||1,000|||||||8,285| ||||51/35|||70,519|70,988||||||51,191| |Restricted Funds|||||||||||||| |Buildings/Fabric||fund||2,839||||(434)|||||2,405| |Equipmcnt/
Improvements
fund||||||19,434|||||||19,434| |Mission Gift Day|||||||||||||| |Harvest Appeal|||||349|2,152|(2,501)||||||| |Other Restricted Collections|||||||||||||| |||||3,188||21,58|(2,935||||||21,839| |Endowment
Fund|||||||||||||| |C.L.Cleaver bequest||||1,250|||||||||| |The looney raised||by the Harvest Gift Day was||distributed||to the various|mission|agencies supported||by St Matthews.|||| |The Endowment|fund consists ofaf1+50legacy||||from C.L.Cleaver which was received in 1976. The||||||capital is not to||be spent| |but the income is||to be used to meet normal Expenditure.|||||||||||| |14 Analysis ofcash||and cash equivalents|||||||Total Funds|||Total|Funds| ||||||||||2020|||2019|| ||||||||||f||||| |Cash in hand||||||||||15/ 15|||2,881| |Notice deposits (less than 3months)||||||||||21,670|||21,670| |Overdraft
facility|||||||||||||| |||||||||||36g85|||24,551| |15 Related parties and transactions|||||||||||||| ## ## ## ## ##