The Parochial Church Council of the Ecclesiastical Parish of Tisbury
End of Year Financial Statements
Year ending 31 December 2020
| Contents | Page |
|---|---|
| PCC Members’ and Trustees’ Report | 2 |
| Independent Examiner’s Report | 3 |
| Statement of Receipts and Payments | 4 |
| Statement of Assets and Liabilities | 5 |
| Notes to the Financial Statements | 6 |
Registered Charity No 1142581
PCC MEMBERS’ AND TRUSTEES’ REPORT
The PCC members and trustees present their report and the financial statements for the year ended 31 December 2020 which were approved at a meeting on 27 April 2021.
Activities
The sole activity of the charity during the year was conducting the affairs and managing the assets of the Ecclesiastical Parish of Tisbury in the Church of England diocese of Salisbury.
Financial statement highlights
The PCC’s activities and finances were effected in 2020 by the coronavirus pandemic. The church was closed for community worship for nearly half the year which resulted in a lower level of collections, and social distancing and other precautions prevented staging normal fundraising events. The loss of revenue was partially offset by two legacies and a government Covid-19 relief grant to Hinton Hall. The main PCC operating costs continued although some savings were achieved from lower utilities costs.
At December 31 the PCC was solvent and it reports a decrease in the general fund for the year of £4,685. The PCC has substantial assets under its control, but these are mostly designated or restricted funds earmarked for specific projects and activities reflecting the basis on which the funds were raised or donated and on allocations agreed by the PCC.
During the year the PCC spent £20,692 (including Value Added Tax of £3,448, recovered through the Listed Places of Worship Grant Scheme in 2021) on replacing the oil-fired boiler and £3,001 was spent on retentions and professional fees from 2019 heating system improvements using restricted funds raised and donated for that purpose.
The PCC paid £30,000 of the £60,303 diocesan share amount requested by the diocese in 2020. Had it paid the full amount it would have been in contravention of its reserves policy, against the Charity Commission’s guidelines. At the end of 2020 the accumulated unpaid diocesan share amount is £93,516. The financial health of the PCC remains dependent on the goodwill of the many volunteers who support the PCC’s activities and on the parishioners and others in the community who provide financial and other support.
Basis of preparation
These accounts have been prepared in accordance with the Church Accounting Regulations 2006 following the receipts and payments basis of accounting. The PCC considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
By Order of the PCC
G P Sorensen, Treasurer
27 April 2021
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Independent Examiner’s Report
I report on the financial statements of the Parochial Church Council of the Ecclesiastical Parish of Tisbury for the year ended 31 December 2020 which are set out on the following pages.
Respective responsibilities of the PCC (Trustees) and Independent Examiner
The PCC (charity’s trustees) is responsible for the preparation of these financial statements in accordance with the Church Accounting Regulations 2006. It considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the financial statements under section 145 of the 2011 Act
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follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the PCC concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matters have come to my attention
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1) which give me reasonable cause to believe that in any material respect the requirements
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a) to keep accounting records in accordance with section 130 of the 2011 Act; and
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b) to prepare financial statements which accord with these accounting records and comply with the accounting requirements of the 2011 Charities Act have not been met; or
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2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
........................................................................... 19 April 2020
Elizabeth Brown 1 Ridgeway Chilmark, Wiltshire SP3 5BX
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TISBURY STATEMENT OF RECEIPTS AND PAYMENTS
01 January 2020 to 31 December 2020
| Note Incoming resources Collections and donations 2 Income from events, net 3 Income from Hinton Hall, net 4 Income from Focus Magazine, net 5 Income from investments Income from other activities 6 Total income Resources used Operating costs 7 Net increase in resources Transfers between funds – in Transfers between funds – out Revaluation of investments Net movement in funds Funds available at 01 January Funds available at 31 December 8 |
General funds 51,570 216 0 0 1,170 4,348 57,304 58,938 -1,634 500 -3,551 0 -4,685 37,401 £32,716 |
Designated funds 0 0 6,581 1,664 19 0 8,264 0 8,264 1,650 -700 -4,901 4,313 69,001 £73,314 |
Restricted funds 18,719 196 0 0 105 0 19,020 26,904 -7,884 22,051 -19,950 0 -5,783 64,120 £58,337 |
2020 70,289 412 6,581 1,664 1,294 4,348 84,588 85,842 -1,254 24,201 -24,201 -4,901 -6,155 170,522 £164,367 |
2019 74,616 8,408 -2,209 2,758 2,075 3,609 |
|---|---|---|---|---|---|
| 89,257 166,627 |
|||||
| -77,370 29,698 -29,698 4,335 |
|||||
| -73,035 243,557 |
|||||
| £170,522 |
Further details of the receipts and payments are set out on pages 6 to 8. General, designated and restricted funds are explained in Note 1 on page 6.
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TISBURY STATEMENT OF ASSETS AND LIABILITIES
31 December 2020
| Note Cash at bank Current account Savings account Gift Aid account Development account Focus current account Focus deposit account Hinton Hall current account Hinton Hall deposit account Investments CBF Income Fund M&G Charifund Fixed assets 9 Total assets Liabilities – agency accounts 10,11 Net assets at 31 December 8,12 |
General funds £28,971 0 3,745 0 0 0 0 0 32,716 0 0 0 0 32,716 0 £32,716 |
Designated funds £3,228 8,056 0 0 8,102 6,692 5,884 18,005 49,967 0 23,347 23,347 0 73,314 0 £73,314 |
Restricted funds £8,222 52,943 138 100 0 0 0 0 61,403 0 0 0 0 61,403 3,066 £58,337 |
2020 £40,421 60,999 3,883 100 8,102 6,692 5,884 18,005 144,086 0 23,347 23,347 0 167,433 3,066 £164,367 |
2019 £51,765 56,498 4,511 1,513 7,178 6,653 4,657 11,001 |
|---|---|---|---|---|---|
| 143,776 1,955 28,248 |
|||||
| 30,203 0 |
|||||
| 173,979 3,457 |
|||||
| £170,522 |
Approved by the PCC at a meeting held on 27 April 2021 and signed on its behalf by Revd Juliette Hulme (chairperson presiding at the meeting) and Anthony Lovell-Wood (PCC member).
Juliette Hulme Team Vicar
Anthony Lovell-Wood PCC member
The notes on pages 6 to 8 form part of these financial statements.
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PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TISBURY NOTES TO THE FINANCIAL STATEMENTS
For the Year Ending 31 December 2020
Note 1. Accounting policies
The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the receipts and payments basis of accounting.
In these financial statements:
Unrestricted funds are funds which can be used in accordance with the PCC’s charitable objects at its discretion.
General funds consist of unrestricted fund money that has not been set aside for any specific project. The day-to-day running costs of the PCC are normally paid out of general funds.
Designated funds are set aside by the PCC out of general funds for specific projects. Designated funds are still unrestricted and can be moved to other unrestricted funds or re-designated if the PCC so decides.
Restricted funds are set aside by the PCC out of general funds for specific projects. Designated funds are still unrestricted and can be moved to other unrestricted funds or re-designated if the PCC so decides.
Note 2. Collections and donations
| Standing orders and envelopes CAF cheques Give.Net Parish Giving Scheme GoodBox and wall safe Cash collections Development Gift Aid tax refunds Grants General donations |
General £33,284 1,700 237 2,372 399 1,849 0 8,111 0 3,618 £51,570 |
Designated £0 0 0 0 0 0 0 0 0 0 £0 |
Restricted £1,310 660 0 0 0 0 0 1,580 10,169 5,000 £18,719 |
2020 £34,594 2,360 237 2,372 399 1,849 0 9,691 10,169 8,618 £70,289 |
2019 £36,327 1,895 175 1,462 199 4,403 16,133 12,883 90 1,049 |
|---|---|---|---|---|---|
| £74,616 |
Note 3. Income from events
Fundraising events were curtailed during the year due to Covid-19 restrictions. £432 net revenue from films was received, £216 of which was allocated to the General fund and £196 to the East Window Restricted fund.
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Note 4. Hinton Hall
| Receipts Payments Net Income/Loss Hinton Hall received a £10,000 Covid-19 relief grant from the government during the year. Note 5. Focus Magazine Receipts Payments Net Income Note 6. Income from other activities Fees Nadder Valley Team share refund Hire of church Book sales Note 7. Parish operating costs General Designated Restricted Diocesan share £30,000 £0 £0 Nadder Valley Team share 4,645 0 0 Organist 4,560 0 0 Altar 121 0 0 Heating oil 857 0 0 Water 81 0 0 Electricity 423 0 0 Insurance 3,767 0 0 Churchyard maintenance 503 0 0 Organ 2,291 0 0 Sound system 0 0 0 General maintenance 939 0 237 Other repairs 551 0 22,951 Development expenses 0 0 3,001 Ofce expenses 8,916 0 0 Printing, stationery, books 385 0 0 Choir 599 0 0 Flowers 0 0 0 Mission giving 300 0 0 Mission at Christmas 0 0 715 £58,938 £0 £26,904 |
2020 £14,784 8,203 £6,581 2020 £9,950 8,286 £1,664 2020 £2,366 1,959 20 3 £4,348 2020 £30,000 4,645 4,560 121 857 81 423 3,767 503 2,291 0 1,176 23,502 3,001 8,916 385 599 0 300 715 £85,842 |
2019 £20,967 23,176 |
|---|---|---|
| -£2,209 2019 £12,362 9,604 |
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| £2,758 2019 £3,200 0 385 24 |
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| £3,609 2019 £30,000 4,709 4,500 795 2,907 79 604 3,612 768 2,190 255 1,011 4,502 100,310 9,344 435 557 49 0 0 |
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| £166,627 |
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Note 8. General, designated and restricted funds
| Unrestricted General Designated Hinton Hall Focus Magazine Gifts and Memorials East Window Mission at Christmas Restricted East Window Clock Lee Abbey Fabric Friends and Memorials Flowers Development |
General £32,716 0 0 0 0 0 0 0 0 0 0 0 0 £32,716 |
Designated £0 23,890 14,791 25,138 9,495 0 0 0 0 0 0 0 0 £73,314 |
Restricted £0 0 0 0 0 535 18,903 15 100 4,127 12,977 144 21,536 £58,337 |
2020 £32,716 23,890 14,791 25,138 9,495 535 18,903 15 100 4,127 12,977 144 21,536 £164,367 |
2019 £37,398 15,658 13,830 30,039 9,475 0 21,107 202 100 27,858 12,950 144 1,761 |
|---|---|---|---|---|---|
| £170,522 |
Note 9. Fixed assets
Consecrated and benefice property is not included in the accounts in accordance with section 10(2)(a) of the Charities Act 2011.
Movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal, as well as other fixtures, fittings and equipment where the PCC is free to dispose of such assets without faculty and where the original cost was £1,000 or more are recognised but not assigned any value in the Statement of Assets and Liabilities.
Note 10. Agency
The agency collections that had not been paid to the recipients at the end of the year were to St John’s Choir, £3,066.
Note 11. Diocesan share
Diocesan share is the amount requested annually by the Diocese of Salisbury to fund the stipends and housing for clergy. The 2020 diocese share request was for £60,303 (2019: £61,786) and the PCC was able to pay £30,000 (2019: £30,000) towards that request. The accumulated unpaid balance of £93,516 is not shown on the Statement of Assets and Liabilities as a liability since it is not a legal obligation and the likelihood of it being paid in future is uncertain.
Note 12. General fund reserve policy
It has been PCC policy to maintain a balance in the general fund to cover emergency situations or a sustained reduction of income or increase in expenses. The PCC has agreed that the minimum level of reserves in the general fund should be £25,000, to be reviewed annually. The general fund balance on 31 December 2020 was £32,716 (2019: £37,398) which complies with the minimum reserves balance policy.
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