2020-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St Margaret's Church Chipstead

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Ctt
onens		Page
Annual Report ofthe Parochial	Church Council
Independent Examiner's Report
Statement of Financial Activities		12
Balance Sheet		13
Statement ofCash Flows		14
Notes to the Financial Statements		15-24

Potential	Risk	Potential Impact				Steps to mitigate risk
Security	ofassets	~ loss or damage				~ review security arrangements
		~ theft ofassets				~ asset register and inspection	programme
						~ review insurance cover
Fund-raising		~ unsatisfactory returns				~ implement appraisal, budgeting		and		authorisation
		~ reputational risks ofcampaign			or	procedures
		methods used				~ review regulatory compliance
		~ actions ofagents and	commercial			~ monitor the adequacy offinancial			returns achieved
		fund-raisers				~ stewardship reporting in annual		report
		~ compliance with law	and
		regulation
Disaster recovery and		~ computer system failures		or loss		~ agree ITrecovery plan
planning		ofdata				~ implement data backup procedures				and security
		~ destruction of property,				measures
		equipment, records through		fire,		~ review insurance cover
		flood orsimilar damage				~ create disaster recovery plan
Cash flow	sensitivities	~ inability to meet commitments				~ ensure adequate cash flow projections (prudence of
		~ lack of liquidity to cover variance				assumptions)
		in costs				~ identify major sensitivities
		~ impact on operational	activities			~ ensure adequate information	flow		from operational
						managers
						~ monitor arrangements and re	porting

For the year	ended 31
December 2020			2020				2019
		Unrestricted	Restricted	Endowment	TOTAL	Unrestricted	Restricted	Endowment	TOTAL
		Funds	Funds	Funds	2020	Funds	Funds	Funds	2019
Notes		2(a)	2(b)	10		2(a)	2(b)	10
INCOME		E		E		f	f	E
Voluntary income		181,182	14,233		195,415	1,055,973	54,263		1,100,236
Income from	church
activities		12,036			12,036	12,632	25,495		38,127
Activities for
generating funds		3,974	9,747		13,721	12,271			12,271
Income from
investment's		3,315			3,315		50	1,118	1,169
Total Income		200,507	23,980		224,487	1,080,877	79,808	1,118	1,161,803
EXPENDITURE
Church activities		262,396	18,275		280,671	285,438	21,673		307,111
Raising funds		1,464	9,352		10,816	3,934	2,339		6,273
Total Expenditure		263,860	27,627		291,487	289,372	24,012		313,384
Net
Income/(Expenditure)		(63,353)	(3,647)		(67,000)	791,505	55,796	1,118	848,419
Transfer between
funds						3,700	(3,700)
Net movement	in
funds		(63,353)	(3,647)		(67,ooo)	795,205	52,096	1,118	848,419
Reconciliation	of
funds
Total funds brought
forward		904,975	112,762	132,278	1,150,015	109,770	60,666	131,160	301,596
Total funds carried
forward		841,622	109,115	132,278	1,083,015	904,975	112,762	132,278	1,150,015

				2020		2019
				f		f
FIXEDASSETS
Tangible assets				13,240		14,946
CURRENT ASSETS
Debtors			15,967		75,214
Cash at bank and	in hand		1,072,718		1,087,146
			1,088,685		1,162,360
LIABILITIES:AMOUNTS		FALLING
DUE WITHIN ONE	YEAR		18,910		27,291
NET CURRENT ASSETS				1,069,775		1,135,069
NET ASSETS				1,083,015		1,150,015
PARISH FUNDS
Unrestricted				841,622		904,975
Restricted				109,115		112,762
Endowment				132,278		132,278
				1,083,015		1,150,015

			2020		2019
			f		f
Cash from operating activities			(14,403)		821,950
Cash flows from invest;ing activities
Interest receivable		3,315		1,169
Payment to acquire tangible fixed assets		(3,340)		(18,878)
Cash (used in) investing activities			(25)		(17,709)
Change in cash in reporting period			(14,428)		804,241
Cash at 1stJanuary			1,087,146		282,905
Cash at 31stDecember			1,072,718		1,087,146
Cash used in operating activities
Net income/(expenditure)			(67,000)		848,419
Interest received			(3,315)		(1,169)
Depreciation charges			5,046		3,932
Decrease/(increase) in debtors			59,247		(37,211)
Increase/(decrease) in creditors			(8,381)		7,979
Net cash provided by operating	activities		(14,403)		821,950

Note 2a Unrestricted general church funds	Note 2a Unrestricted general church funds	Note 2a Unrestricted general church funds	2020	2019
INCOME			f	E
Volunta income
Planned Giving			136,619	159,905
Collections (plate) at:services			1,812	6,352
Income tax recoverable			30,368	34,639
Grants received			3,092
Donations etc.			8,791	9,917
Legacies			500	845,160
			181,182	1,055,973
Income From Church Activities:
Wedding, Baptism and Funeral fees			11,988	12,593
Contractual income			48	39
			12,036	12,632
Activities for eneratin	funds
Magazine sales			1,649	2,526
Magazine advertising			1,395	2,418
Fetes and other fundraising		events		6,597
Orchard hire			930	730
			3,974	12,271
Interest income			3,315
TOTAL INCOME			200,507	1,080,877
EXPENDITURE
Church Activities
Parish Share			120,000	117,504
Clergy expenses			884	790
Church building maintenance			8,143	17,586
Churchyard maintenance			151	113
Youth, children, music and hospitality			37,150	42,221
Church running expenses			38,692	46,912
Organ costs			300	297
General &secretarial expenses			31,765	32,700
Printing and stationery			8,966	9,912
Depreciation			5,046	3,932
			251,097	271,967
Grants
Overseas mission societies			7,697	9,458
Christian relief &development		agencies	500	500
Home mission &other church		societies	3,102	3,513
			11,299	13,471

Note 2a Unrestricted	general	church funds (continued)
Fund Raisin costs
Fund raising costs total			1,464		3,934
TOTAL EXPENDITURE			263,860		289,372
Note 2 (b) Restricted	Funds
Trust Funds			2020		2019
			f		f
Income
Dividends &Interest
Expenditure
Flowers &upkeep ofgraves
Net income
Balance at 1January				367	367
Balance at31December				367	367
Bell Fund			2020		2019
			f		f
Income
Interest					50
Surplus from weddings
Net income					50
Transfers					300
Balance at 1January				28,576	28,226
Balance at31December			28,576		28,576
Specific Donations			2020		2019
			f		f
Income
Collections				30	1,236
Donations etc				9,202	2,900
Events					1,248
				9,232	5,384
Expenditure
Overseas mission societies
Christian relief &development		agencies		459	1,551
Home mission &other	church	societies			970
Secular charities				(689)	{2,332)
Refunds				9,202

Note 2 (b) Restricted Funds (continued)	Note 2 (b) Restricted Funds (continued)	Note 2 (b) Restricted Funds (continued)
Net Income			260	5,195
Balance at 1January			5,195
Balance at31December			5,455	5,195
			2020	2019
A~eel Fund			f	f
Income
Expenditure
Grants to home mission &other		church societies
Costs of Fundraising
Equipment purchases			3,136	8,272
			3,136	8,272
Net Income/(expenditure)			(3,136)	(8,272)
Balance at 1January			9,939	18,211
Balance at31December			6,803	9,939
Peter Aubertin Hall			2020	2019
Income			f	f
Operating activities	to generate	funds
Church hall lettings			9,525	22,255
			9,525	22,255
Dividends &interest
Other Income
			9,525	22,255
Expenditure
Church hall running	costs		6,849	10,145
Church hall building	maintenance		3,500	3,884
Administration of Hall Bookings			4,000
			14,349	14,029
Net Income			(4,824)	8,226
Transfers				(4,000)
Balance at 1January			15,263	11,037
Balance at31December			10,439	15,263

Note 2 b Restricted	funds
~Mu swell Hati		2020	2019
		f	E
Income
Donations			337
Church hall lettings		235	1,782
		235	2,119
Expenditure
Church hall running	costs	1,022	1,200
Church hall building	maintenance	148	322
		1,170	1,522
Net Income Balance at 1January Balance at31December		(935) 3,422 2,487	597 2,825 3,422
		2020	2019
Fabric Fund		f
income
Bequest		4,988	50,000
Expenditure
Net Income Balance at 1January		4,988 50,000	50,000
Balance at31December		54,988	50,000

3:Fixed assets fo	r use by the PCC
		Furniture,	fittings and
		equipment
Cost	At 1January 2020		18,878
	Additions at cost		3,340
	At 31December 2020		22,218
Depreciation	At 1January 2020		3,932
	Charge for the year		5,046
	At 31December 2020		8,978
Net book value	At 31December 2020		13,240
	At31December 2019		14,946
4:Staff Costs				2020	2019
				f	f
Wages and salaries				58,096	62,579
Socia I security costs				1,204	642
Employers Pension	costs			1,354	1,438
Total				60,654	64,659
Average number ofemployees

5Debtors	2020	2019
Due within one year	f	f
Income Tax recoverable	9,543	17,825
Prepayments	5,491	5,936
Other Debtors	933	51,453
Tota Idebtors	15,967	75,214
6Liabilities	2020	2019
Amount falling due within one year	f	f
Deferred Income	300	195
Accruals	18,610	27,096
Total liabilities	18,910	27,291

			2020	2020
		Current	Fixed assets	Current	Fund
		Assets		Liabilities	Balance
Unrestricted	Funds	846,090	13,240	(17,708)	841,622
Fabric Fund		54,988			54,988
Trust Funds		367			367
Bell Fund		28,576			28,576
Appeal Fund		6,803			6,803
Specific Donations		6,009		(554)	5,455
PA Hall		11,087		(648)	10,439
Mugswell Hall		2,487			2,487
Endowment	Fund	132,278			132,278
Total Funds		1,08&,685	13,240	(18,910)	1,083,015
			2019
		Current	Fixed assets	Current	Fund
		Assets		Liabilities	Balance
		E
Unrestricted	Funds	906,551	14,946	(16,522)	904,975
Fabric Fund		50,000			50,000
Trust Funds		367			367
Bell Fund		28,576			28,576
Appeal Fund		9,939			9,939
Specific Donations		15,273		(10,078)	5,195
PA Hall		15,954		(691)	15,263
Mugswell Hall		3,422			3,422
Endowment	Fund	132,278			132,278
Tota I Funds		1,162,360	14,946	(27,291)	1,150,015

				2019
				f
Within	1year		1,430	1,430
Within	2to 5years		3,934	5,364
			5,364	6,794
Lease	payments	during the year	1,799	2,009