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2021-12-31-accounts

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

2021

THE PAROCHIAL CHURCH COUNCIL

OF THE ECCLESIASTICAL PARISH OF OLD FELIXSTOWE

CHARITY REGISTERED No. 1141751

TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page 1 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Contents Page
Reference and Administrative details 3
Trustees' Report 4-7
Statement of Members Responsibilities 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Statements of Assets & Liabilities 12
Fund Movement 13
Analysis of Income & Expenditure 14-16
Notes to the Financial Statements 17 -23

Page 2 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NAME: The Parochial Church Council of the Ecclesiastical Parish of Old Felixstowe.

OTHER NAMES: Old Felixstowe, Saints Peter & Paul with Saint Andrew and Saint Nicholas and Parish of Old Felixstowe

REGISTERED CHARITY NUMBER: 1141751
PARISH OFFICE: Old Felixstowe Parish Office,
Saint Andrew’s Church,
Saint Andrew’s Road,
Felixstowe,
Suffolk.
IP11 7EB
BANKERS: Barclays Bank PLC
INDEPENDENT EXAMINER: Mrs. H. Rumsey FCA
Ensors Accountants LLP
Ipswich
TRUSTEES
Name Office Served
From To
Rev. C. A. Hood Chairman All year
Mrs. J.R. Jones Churchwarden All year
Acting Treasurer All year
Mr. S. C. Rogers Churchwarden All year
Mr. A. J. Peats Acting Treasurer All year
Mr. R. Copestake All year
Mr. R. A. Cornwell All year
Mrs. R.L. Cornwell All year
Mr. M.D.L. van den Ende All year
Mrs. G.K. Hadwen All year
Mr. Mike Dean Jan 1st May 25th
Mr. N.A. Shipley All year
Mrs. A. Smith All year
Mrs. Jean Macpherson May 25th Dec 31st
Rev. D. White All year
Rev E. Haggar July 3rd Dec 31st

Page 3 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and the financial statements of the charity for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out on pages 17-19 and comply 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

This charity is governed and constituted under the laws applicable to parochial church councils within the Church of England, the Parochial Church Council Powers Measure.

The Parish of Old Felixstowe elect members to its church council (PCC) at an Annual Parochial General Meeting, and members of the PCC automatically become trustees. Anyone living in the parish and those whose names are on the electoral roll of the parish are eligible to attend and vote at that meeting.

The parish exists to promote Christianity, principally in Old Felixstowe, according to the rites and formularies of the Church of England.

The parish is constituted to provide regular, public services, principally on Sundays, and the occasional offices of baptism, matrimony and funeral, and provides buildings that are open to the public for the comfort of religion. These buildings are available to local organizations for events that benefit the local community. The parish also donates to other charities that provide services founded in Christianity to members of the public in the United Kingdom, locally and otherwise, and overseas.

AIM AND PURPOSE

The Parochial Church Council (PCC) of Old Felixstowe supported its Vicar, Rev. C.A. Hood, to provide the whole mission of the Church of England in northern and eastern Felixstowe. To help achieve this, it maintains and opens for public worship the church buildings of Saints Peter & Paul, in Church Road; its daughter church, St. Andrew, in St. Andrew’s Road and (the unconsecrated) St. Nicholas at Felixstowe Ferry. The PCC also maintains the Church Hall in St. Andrew’s Road, and has beneficial ownership of St. Andrew’s House, 10, Fleetwood Road, adjacent to the church.

OBJECTIVES

The PCC is committed to encouraging people to participate in worship at its three churches and thus become part of the church family. It caters for differing styles of worship and church fellowship within the parish by diverse services on Sundays and weekdays as well as the use of church buildings at other times by groups. The parish holds services for the whole parish alternating between Ss. Peter & Paul and St. Andrew and St. Nicholas during the summer months.

PUBLIC BENEFIT

When planning its activities for the year, the PCC and Vicar have considered the Charity Commission’s guidance on public benefit and in particular the specific guidance to charities for the advancement of religion.

Page 4 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

In particular they have tried to enable ordinary people to live out their faith as part of this parish’s community through:

REVIEW OF THE YEAR

The parish has continued to hold public services throughout 2021, some in the church buildings and some streamed through online systems in line with the restrictions imposed due to the COVID-19 pandemic.

When possible, church buildings have been open for private prayer and public worship, as well as for weddings, funerals and baptisms in line with Church of England guidelines.

For the first six months of the year there were two services weekly online, which have been accessible to a wider congregation than those in the parish, thus reaching many more people than the in-building church services. For the second half of the year there has been one weekly online service.

These have been alongside our “in building” services which have been based at St Andrews Church – which is the larger of the buildings and hence easier to maintain social distancing and the restraints imposed by the pandemic.

Some groups have continued on-line and social events have been held using video conferencing packages. From late spring onwards some groups restarted meeting in person abiding by covid restrictions. There was little opportunity for the church buildings to be used by the wider community, however St Peter and Paul Church has continued to be used on a weekly basis for a community Basic Popup Shop and Music in Felixstowe were able to use St Andrews church to record some recitals.

In the second half of the year the PCC formed working groups to help oversee and manage areas of church life – these report back to the PCC. The groups are Fabric, Outreach and Evangelism and Finance.

The church hall is used by a pre-school group throughout the year.

Monthly activity sessions were held for primary school children and these have been moved online.

Regular contact has been maintained with primary schools in the parish providing on-line assemblies and lessons.

In July the parish welcomed Revd. Emma Haggar who is serving her curacy here.

St Andrews House continues to be let out, managed by a local letting agent.

There was an overall surplus of £54,824 for the year compared to £140,510 for the previous year. Legacies received from the Estate of a deceased trustee amounted to £75,000 for the year ended 31 December 2021 and £125,000 for the previous year.

Page 5 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

TRUSTEES

The Trustees of the charity are detailed on page 3 of this report.

TRUSTEES' RESPONSIBILITIES

The Trustees responsibilities are detailed on page 8.

APPOINTMENT OF TRUSTEES

When a vacancy occurs for a trustee, the remaining trustees seek to appoint an individual with skills and experience, which they feel, will be of benefit to the charity.

On appointment, new trustees are given copies of the latest Annual Report and Accounts. There is no formal induction and training programme, but individual trustees attend seminars to update themselves when they feel it necessary.

MANAGING RISK

The Trustees have considered the major risks to which the church is exposed, and systems have been established to mitigate those risks. The implementation of these procedures minimises those risks. These procedures are regularly reviewed to ensure that they still meet the needs of the charity. In particular, to minimise any financial risks the trustees would seek reputable banks and other investment institutions into which they could place funds. The performance of their investment would then be reviewed.

RESERVES & INVESTMENT POLICY

The parish holds reserves in the form of Restricted, Endowment and Unrestricted funds. At 31 December 2021 the funds amounted to £110,049, £49,555 and £539,230 respectively.

A Reserves and Investment Policy has been developed to manage the financial assets of the parish. During the annual Financial Review a balanced budget will be set for the upcoming year, whereby any shortfall in predicted income vs predicted expenditure will be met by an allocation from carried-forward surplus assets. In addition, a Reserve will be allocated as contingency against unexpected higher costs as the budget is executed through the year. A formula for determining the Reserve is defined in the Policy.

The Reserve will be held in a separate readily accessible financial account from that used for the parish’s day-to-day running. The balance of the surplus financial assets will be maintained as a mix of mid- and longterm investments, with the goal of producing capital growth and income, commensurate with minimising risk of capital loss.

EMPLOYMENT MATTERS

The trustees are responsible for the appointment of employees and other related staff matters, including determining salaries. A workplace pension scheme has not yet been set up but is currently being considered.

IMPACT OF COVID 19 PANDEMIC

The PCC has considered the effect of the ongoing covid pandemic on the church finances.

Page 6 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

In 2021 there were regular church services, however the numbers attending were not at pre pandemic levels and many in the congregation continue to worship via the weekly online service. The level of regular financial giving has been maintained as the majority of the giving comes via standing orders.

In 2021 the number of weddings and funerals increased as has the community use of the building with a subsequent increase in income from those sources.

There are more than 6 months running costs in the reserves at present and the PCC will keep the situation under review.

Approved and signed by order of the Trustees.

……………………………………….

C.A. HOOD - VICAR

……………………………………….

A J PEATS - ACTING TREASURER

Date: 7 April 2022

Page 7 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

STATEMENT OF MEMBERS' RESPONSIBILITIES

Law applicable to Parochial Church Councils in England requires the members to prepare financial

statements for each financial year which give a true and fair view of the Council's financial activities during the year and of its position at the end of the year.

In preparing financial statements giving a true and fair view, the members should follow best practice and:

The members are responsible for keeping accounting records which disclose with reasonable

accuracy the financial position of the Council, and which enable them to ascertain the financial position of

the Council and which enable them to ensure the financial statements comply with applicable regulations. The members are also responsible for safeguarding the assets of the Council and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website.

STATEMENT REGARDING MEMBERS' BENEFITS

With the exception of those mentioned below no member of the Council nor any person connected to them benefited from any contract or work awarded or payment made by the Council during either year.

The Vicar and two other members of the clergy (all trustees) received re-imbursement of £730 for out-ofpocket expenses incurred in their duties during 2021 (2020: £579).

In 2020 reimbursement of £475 was made to a trustee for legal fees paid on behalf the Church. No expenses were reimbursed in 2021.

STATEMENT REGARDING TRUSTEES' CONTRIBUTIONS

During 2021 the trustees donated £15,785 to the Parish of Old Felixstowe for the furtherance of its objectives. All of this sum was unrestricted in character. In 2020 the comparative values of gifts were £13,880 (unrestricted).

STATEMENT REGARDING EMPLOYEE'S REMUNERATION

The PCC employed one person (not a Trustee) who earned a gross salary of £10,678. The Employment Allowance has been claimed and no employer’s National Insurance Contributions were paid.

(2020: £10,714 and no employer's NIC.)

No contributions for the benefit of the employee have been made to a workplace pension scheme during the year (2020: £nil).

No holiday pay accrual is required as all entitlement was utilised by 31 December 2021 (2020: Nil).

STATEMENT REGARDING EX GRATIA AND HONORARIA PAYMENTS Ex Gratia payments totalling £1,500

(2020: £1,040) were made to the Verger and Organist (non- PCC members) for their duties at Church Services. Honoraria were also paid for garden maintenance totalling £280 in 2020. Nothing has been paid in 2021.

Page 8 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF OLD FELIXSTOWE SAINTS PETER & PAUL, SAINT ANDREW and SAINT NICHOLAS

I report to the Trustees on my examination of the accounts of the Parochial Church Council of the Parish of Old Felixstowe (the charity) for the year ended 31 December 2021.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the "Act").

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5) (b) of the Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts to be reached.

Date:11 April 2022

Mrs. H. Rumsey FCA Ensors Accountants LLP Connexions 159 Princes Street IPSWICH IP1 1QJ

Page 9 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of Financial Activities

Unrestricted Restricted Endowment
Total
Prior year
funds
funds
funds
£
£		 Unrestricted Restricted Endowment
Total
Prior year
funds
funds
funds
£
£
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income – Page 14
Expenditure on:
Charitable activities
Other expenditure
Total expenditure – Page 15 & 16
Net income/(expenditure)
Transfers
Gross transfers between funds - in
Gross transfers between funds - out
Other recognised gains/(losses)
Gains/(losses) on investment assets
Net movement in funds
Total funds brought forward
Total funds carried forward		 164,101
—
—
164,101
227,009
8,114
—
—
8,114
8,239
5,968
—
—
5,968
7,060
9,923
—
1,096
11,019
10,050
188,106
—
1,096
189,202
252,358
128,402
4,350
—
132,752
111,848
1,626
—
—
1,626
—
130,028
4,350
—
134,378
111,848
58,078
(4,350)
1,096
54,824
140,510
15,750
—
—
15,750
115,983
(15,750)
—
—
(15,750)
(115,983)
—
—
5,418
5,418
3,439
58,078
(4,350)
6,514
60,242
143,949
481,152
114,399
43,041
638,592
494,643
539,230
110,049
49,555
698,834
638,592

Page 10 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Balance Sheet

Notes Total £
Prioryear £
Fixed assets
1 Tangible assets
2 Investments
Current assets
3 Debtors
Cash at bank and in hand
Liabilities
4 Creditors: Amounts falling due in one year
Net current assets less current liabilities
Total assets less current liabilities - Page 12
Represented by
5Unrestricted
General fund
Designated
Benefice Fabric & Infrastructure Fund
St Andrews Hall Fund
St Andrews House Fund
St Peter & Paul Streaming Fund
Restricted
Organ Fund
St Andrews Church Fabric & Infrastructure Fund
St P & P Fabric & Infrastructure Fund
Endowment
St Peter & Paul Graveyard Fund
Funds of the church - Page 13		 320,000
320,000
49,555
43,041
369,555
363,041
6,684
14,290
328,019
264,153
334,703
278,443
5,424
2,892
5,424
2,892
329,279
275,551
698,834
638,592
192,726
131,090
22,309
22,500
19,654
20,121
304,417
307,441
124
—
2,237
2,717
86,267
89,937
21,545
21,745
49,555
43,041
698,834
638,592

…………………………………………………. ……………………………………………….

C A HOOD -VICAR A J PEATS – ACTING TREASURER

Date: 7 April 2022

Page 11 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of Assets and Liabilities

General Designated RestrictedEndowmentThisyear £ Lastyear £
Fixed assets - Investments
Oliver Endowment Capital Fund -
Churchman Endowment Capital
Fund -
Oliver Endowment Income Fund -
Churchman Endowment Income
Fund -
Totals
Fixed assets - Tangible assets
St Andrews House -
St Andrews Hall -
Totals
Current assets - Cash at bank and
in hand
Barclays Current Account -
Barclays Savings Account -
Totals
Current assets - Debtors
Accounts Receivable -
Totals
Liabilities - Creditors: Amounts
falling due in one year
Accounts Payable -
Totals
Grand total		 —
—
—
30,194
30,194
24,776
—
—
—
1,000
1,000
1,000
—
—
—
13,509
13,509
12,416
—
—
—
4,852
4,852
4,849
—
—
—
49,555
49,555
43,041
—
300,000
—
—
300,000
300,000
—
20,000
—
—
20,000
20,000
—
320,000
—
—
320,000
320,000
7,392
9,658
12,006
—
29,056
34,013
184,225
16,695
98,043
—
298,963
230,140
191,617
26,353
110,049
—
328,019
264,153
5,239
1,445
—
—
6,684
14,290
5,239
1,445
—
—
6,684
14,290
4,130
1,294
—
—
5,424
2,892
4,130
1,294
—
—
5,424
2,892
192,726
346,504
110,049
49,555
698,834
638,592

Page 12 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Fund Movement

Opening Incoming Outgoing Transfers Gains/losses Closing £
Benefice Fabric & Infrastructure
Designated
Organ Fund
Restricted
St Peter & Paul Graveyard Fund
Endowment
St Andrews Church Fabric &
Infrastructure
Restricted
St Andrews Hall Fund
Designated
St Andrews House Fund
Designated
St P & P Fabric & Infrastructure
Restricted
St Peter & Paul Streaming
Designated
General fund
Unrestricted
Grand total		 22,500
—
191
—
—
22,309
22,500
—
191
—
—
22,309
2,717
—
480
—
—
2,237
2,717
—
480
—
—
2,237
43,041 1,096
—
—
5,418
49,555
43,041
1,096
—
—
5,418
49,555
89,937
—
3,670
—
—
86,267
89,937
—
3,670
—
—
86,267
20,121
4,707
9,174
4,000
—
19,654
20,121
4,707
9,174
4,000
—
19,654
307,441
9,900
2,924
(10,000)
—
304,417
307,441
9,900
2,924
(10,000)
—
304,417
21,745
—
200
—
—
21,545
21,745
—
200
—
—
21,545
—
—
1,626
1,750
—
124
—
—
1,626
1,750
—
124
131,090
173,499
116,113
4,250
—
192,726
131,090
173,499
116,113
4,250
—
192,726
638,592
189,202
134,378
—
5,418
698,834

Page 13 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Analysis of Income and Expenditure

Total £
Unrestricted Designated Restricted
Endowment This year
Last year
INCOME AND ENDOWMENTS
Donations and legacies
Gift Aid Giving
51,363
—
—
—
51,363
51,016
Other Planned Giving
14,343
—
—
—
14,343
11,281
Weekly Offerings
9,435
—
—
—
9,435
6,892
Recurring Donations
—
—
—
—
—
175
Non Recurring Donations
1,206
—
—
—
1,206
8,783
Gift Aid Recovered
12,754
—
—
—
12,754
22,862
Legacies
75,000
—
—
—
75,000
125,000
Non Recurring Grants
—
—
—
—
—
1,000
Total
164,101
—
—
—
164,101
227,009
Income from charitable activities
Pop up Shop
1,758
—
—
—
1,758
1,297
Weddings, Funerals &
Memorial Fees
6,175
—
—
—
6,175
5,325
Other Income
181
—
—
—
181
1,617
Total
8,114
—
—
—
8,114
8,239
Other trading activities
Fund Raising
600
—
—
—
600
40
St Andrews Hall Fees
610
4,707
—
—
5,317
7,020
Magazine & Bookstall Sales
51
—
—
—
51
—
Total
1,261
4,707
—
—
5,968
7,060
Investments
Dividends & Interest
23
—
—
1,096
1,119
150
St Andrews House Rental
Income
—
9,900
—
—
9,900
9,900
Total
23
9,900
—
1,096
11,019
10,050		 Total £
Unrestricted Designated Restricted
Endowment This year
Last year
51,363
—
—
—
51,363
51,016
14,343
—
—
—
14,343
11,281
9,435
—
—
—
9,435
6,892
—
—
—
—
—
175
1,206
—
—
—
1,206
8,783
12,754
—
—
—
12,754
22,862
75,000
—
—
—
75,000
125,000
—
—
—
—
—
1,000
8,114
—
—
—
8,114
8,239
600
—
—
—
600
40
610
4,707
—
—
5,317
7,020
51
—
—
—
51
—
1,261
4,707
—
—
5,968
7,060
23
—
—
1,096
1,119
150
—
9,900
—
—
9,900
9,900
23
9,900
—
1,096
11,019
10,050
INCOME TOTAL 173,499
14,607
—
1,096
189,202
252,358

Page 14 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

EXPENDITURE

Total £
Unrestricted Designated Restricted Endowment This year Last year
Expenditure on charitable activities
Church Overseas (note 7) 4,200 — — — 4,200 —
Christian Relief 220 — — — 220 —
Home Mission Giving (note 7) 2,800 — — — 2,800 —
Pop up Shop — — — — — 240
Parish Share 73,385 — — — 73,385 74,893
Administrative Officer Costs 10,740 — — — 10,740 10,714
Organist Fees 980 — — — 980 600
Gardener Fees — — — — — 280
Vergers Fees 520 — — — 520 440
Clergy Working Costs 839 — — — 839 579
Assistant Clergy Costs — — — — — 13
Mission & Outreach Expenses 81 — — — 81 176
St Andrews Church Insurance 1,670 — — — 1,670 518
St P & P Church Insurance 1,760 — — — 1,760 516
St Nicholas Church Insurance 235 — — — 235 67
Upkeep of Services 2,195 — 480 — 2,675 665
Copier Related Costs 1,409 — — — 1,409 873
Other Administrative Cost 124 — — — 124 175
Cleaning & Minor Repairs 1,026 — 198 — 1,224 792
Upkeep of Church Grounds 615 — 200 — 815 977
Other Support Costs 3,727 190 — — 3,917 803
St Andrews Church Utilities 5,797 — — — 5,797 2,826
St P & P Church Utilities (318) — — — (318) 1,358
St Nicholas Church Utilities (654) — — — (654) 423
Communication Costs 677 — — — 677 2,012
St Andrews Hall Utilities — 3,713 — — 3,713 2,879
St Andrews Hall Insurance — 1,073 — — 1,073 288
St Andrews Hall Cleaning & — 4,389 — — 4,389 1,442
Minor Repairs
St Andrews House Insurance — 669 — — 669 600
St Andrews House Agent Fee — 1,188 — — 1,188 1,188
St Andrews House Maintenance
—		 1,067 — — 1,067 1,552
Fees payable to Churchyard 1,205 — — — 1,205 735
Masons
Governance Costs 2,880 — — — 2,880 1,920
St Andrews Church Major — — 3,472 — 3,472 1,304
Repairs
Total
116,113		 12,289 4,350 — 132,752 111,848

Page 15 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Other expenditure
Costs of implementing
streaming
Total		 —
1,626
—
—
1,626
—
—
1,626
—
—
1,626
—
EXPENDITURE TOTAL 116,113
13,915
4,350
—
134,378
111,848

Page 16 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

ACCOUNTING POLICIES

BASIS OF PREPARATION OF ACCOUNTS

The accounts have been prepared in accordance with the 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).

The accounts have been prepared to give a 'true and fair' view and 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 Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities applying FRS 102 rather than the version referred to in the regulations which has since been withdrawn.

The accounts are prepared in sterling, which is the functional currency. Monetary amounts in these

accounts are rounded to the nearest £. The accounts have been prepared on the going concern basis as the Council have a reasonable expectation that the Church has adequate resources to continue operating for the foreseeable future. The effects of the COVID-19 pandemic are at present not impacting seriously with our main sources of income being maintained.

The Parish of Old Felixstowe Parochial Church Council meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless stated in the relevant accounting policy notes.

FUNDS

Unrestricted funds are funds of the PCC that are not subject to restriction on their use and are able to be applied by the PCC for general purposes.

The PCC may designate unrestricted funds for a particular purpose as a matter of internal financial discipline. Restricted funds are annotated on their use.

Endowment funds are restricted funds, the interest from which is to be used for purposes specified by the funds' donors.

These accounts deal only with such transactions for which the PCC is responsible. The affairs of groups affiliated to the church and other gatherings within it are excluded.

INCOMING RESOURCES

Collections are taken to account when received. Income from covenanted giving and ancillary donations are taken to account only when received. Income tax recoverable under the Gift Aid scheme is recognised on a receivable basis.

Legacies income is recognised when the PCC has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Page 17 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Recurring and non recurring grants are taken to account only when credited to the PCC's bank. Income from charitable activities is recognised on a receivable basis.

Fundraising and income generated from other trading activities are recognised when received.

RESOURCES USED

Donations and grants are taken to account on voting by the PCC or payment, whichever is the earlier. Other costs are accounted for when the PCC's liability for them occurs.

FIXED ASSETS

Consecrated Land & Buildings

These are excluded from the accounts.

No value is placed on movable church furnishings that require a faculty for disposal.

Expenditure on consecrated property and movable furnishings whether improvement or maintenance is written off in the year of expenditure.

Other Land & Buildings

St Andrew’s House is stated at the market value provided by a professional valuer in February 2019. The value is reviewed on an annual basis by the Trustees and professionally revalued at intervals of no more than 5 years.

St Andrews Hall is stated at cost.

Expenditure on other land and buildings is written off as incurred and no depreciation is charged.

Other Fittings, fixtures equipment

This is written off on a linear basis over three years. Items less than £1,000 in value are written off when acquired.

IMPAIRMENT OF FIXED ASSETS

At each reporting date the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those have suffered any 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).

INVESTMENTS

Investments are shown at market value. Differences in closing market value from the preceding year are taken to the Statement of Financial Activities as an unrealised movement.

Income arising from investments is accounted for on an accrual basis.

Page 18 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL INSTRUMENTS

Other than the fixed asset investments, the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised in the Balance Sheet when the PCC becomes party to the contractual provision of the instrument.

CURRENT ASSETS

Sums owed to the PCC are shown as debtors less any amount which may not be collectable. Cash at bank and in hand includes cash and highly liquid investments.

ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The freehold property, 10, Fleetwood Road, is professionally revalued at intervals of no more than five years.

PENSIONS

The PCC has no contractual obligation to make payments to any pension scheme for its employees. Contributions will be charged to the Statement of Financial Activities as they become payable.

LEASES

Rentals payable under operating leases are charged against income as they become payable.

EMPLOYMENT TERMINATION

There is currently no provision for contractual payments on termination of employment in staff contracts. If a termination becomes necessary, it will be dealt with in accordance with circumstances and employment law in force at that time.

TAXATION

The activities are exempt from United Kingdom VAT and Income taxation.

NOTE 1: FIXED ASSETS

The PCC beneficially owns two non-consecrated freehold properties: St. Andrew's church hall and St. Andrew's House. There has been no depreciation in 2021.

St. Andrew's House was professionally valued on 19 February 2019 at £300,000 and is stated at this value in these accounts.

St Andrews Hall is stated at cost in these accounts. This was professionally valued at £190,000 on 5 November 2020.

The PCC also owns St. Nicholas’s church, a non-consecrated property at Felixstowe Ferry. If services are not held there for a period of more than one year, interest in the property reverts to the original donor.

In the PCC's opinion the property has no market value to the PCC. These properties are unrestricted.

Page 19 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTE 1: (continued)

OTE 1:(continued)
Cost/Valuation
Brought forward and
Carried forward
Depreciation
Brought forward and
carried forward
Written down value
At 31 December 2021
At 31 December 2020		 Equipment
3,089
3,089
—
—		 St
Andrew's
House
300,000
—
300,000
300,000		 St
Andrew's
Hall
40,000
20,000
20,000
20,000		 Total
£
343,089
23,089
320,000
320,000

NOTE 2: ENDOWMENTS

The Diocese holds certain funds, the income from which is for the benefit of the parish. Cash from these funds is shown in Saints Peter & Paul Graves & Fabric Fund

Original capital sum
£
OLIVER For Maintenance of Oliver family graves and 757
keeping legible their lettering and benefit of Ss
Peter and Paul.
Interest held at the Diocese, available to the PCC
CHURCHMAN For fabric and grave maintenance, particularly 1,000
Churchman family graves. Trust deed held at
Diocese, available to the PCC

ENDOWMENT MOVEMENT

OLIVER
CHURCHMAN
TOTAL		 Value 2020 £
Value 2021 £
Movement £
37,192
43,073
6,511
5,849
5,852
3
43,041
49,555
6,514

Page 20 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

NOTE 3: DEBTORS

Other debtors
Prepayments		 2020
2021
£
£
10,020
2,472
4,270
4,212
14,290
6,684

It is probable that a further residual sum will be received from an Estate, from which a legacy has already been received. However, this cannot be recognised due to the degree of uncertainty and the inability to measure or quantify the amount due.

NOTE 4: LIABILITIES FALLING WITHIN ONE YEAR

NOTE 4: LIABILITIES FALLING WITHIN ONE YEAR
Creditors
Accruals		 2020
£
422
2,470
2,892		 2021
£
949
4,475
5,424

NOTE 5: ANALYSIS OF NET ASSETS BY FUND for the year ended 31[st] December 2020

Fixed assets
Current assets
Liabilities
Net current assets less current
liabilities
Total assets less current liabilities
Total funds carried forward		 Unrestricted Restricted Endowment
Total £
320,000
—
43,041
363,041
163,622
114,821
—
278,443
2,470
422
—
2,892
161,152
114,399
—
275,551
481,152
114,399
43,041
638,592
481,152
114,399
43,041
638,592

NOTE 6: OPERATING LEASE COMMITMENTS

On 22 August 2019, the church entered into a 5-year operating lease agreement in respect of a photocopier The amount outstanding at 31 December 2021 was as follows:

Within 1 year
More than 1 year		 2020
£
880
2,019
2,899		 2021
£
880
1,139
2,019

Page 21 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Payments recognised as expenditure amounted to £880 (2020: £880)

NOTE 7: PAYMENTS TO INSTITUTIONS & INDIVIDUALS –

The PCC made the following donations:

Overseas Mission Fellowship
TEAR fund
Church Pastoral Aid Society
BOOST Felixstowe
The Hope Trust		 2020
£
—
—
—
—
—
—		 2021
£
1,400
1,400
1,400
1,400
1,400
7,000

NOTE 8: POST BALANCE SHEET EVENTS

The activities of the church continued to be affected by the Covid 19 lockdown. This is anticipated to ease during the first half of 2022.

The Streaming project started in 2021 is nearing the end of the planning stage and faculty procurement. It is anticipated that installation will commence mid-2022 and the projected cost is estimated at approximately £50,000.

We have applied to the Diocesan Board of Finance to withdraw £16,000 from the Oliver Endowment Income Fund. This will be used for the upkeep of the family graves and the St Peter & Paul Streaming Project.

Page 22 of 23

PARISH of OLD FELIXSTOWE PAROCHIAL CHURCH COUNCIL TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Fund Movement – Year ended 31 December 2020

NOTE 9: Opening Incoming Outgoing Transfers Gains/losses Closing £
Benefice Fabric & Infrastructure
(previously Fabric Fund)
Designated
Organ Fund
Restricted
St Peter & Paul Graveyard Fund
Endowment
St Andrews Church Fabric &
Infrastructure (previously St
Andrew’s Building and Chancel
Funds)
Restricted
St Andrews Hall Fund
Designated
St Andrews House Fund
Designated
St P & P Fabric & Infrastructure
Restricted
St Andrews Building Fund
Endowment
Legacies and Gifts
Restricted
General fund
Unrestricted & Designated
Grand total		 16,206
7,115
821
—
—
22,500
16,206 7,115
821
—
—
22,500
—
—
300 3,017
—
2,717
—
—
300
3,017
—
2,717
39,602 —
—
—
3,439
43,041
39,602
—
—
—
3,439
43,041
5,679
150
1,584
85,692
—
89,937
5,679
150
1,584
85,692
—
89,937
20,190
7,020
4,609
(2,480)
—
20,121
20,190
7,020
4,609
(2,480)
—
20,121
300,299
9,900
3,340
582
—
307,441
300,299
9,900
3,340
582
—
307,441
—
—
—
21,745
—
21,745
—
—
—
21,745
—
21,745
1,490
—
—
(1,490)
—
—
1,490
—
—
(1,490)
—
—
27,624
—
—
(27,624)
—
—
27,624
—
—
(27,624)
—
—
1,214
228,173
101,194
2,897
—
131,090
1,214
228,173
101,194
2,897
—
131,090
494,643
252,358
111,848
—
3,439
638,592

Page 23 of 23