## 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:
- examine the financial statements under section 145 of the 2011 Act
- follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
- 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
- 1) which give me reasonable cause to believe that in any material respect the requirements
- a) to keep accounting records in accordance with section 130 of the 2011 Act; and
- 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
- 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|
|||£2,758
**2019**
£3,200
0
385
24|
|||£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|
|||£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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