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2021-12-31-accounts

The Parochial Church Council of the Ecclesiastical Parish of Tisbury

End of Year Financial Statements

Year ending 31 December 2021

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 2021 which were approved at a meeting on 22 March 2022.

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 affected in 2021 by the Coronavirus pandemic. The closing of the church for community worship for a large part of the year contributed towards a lower level of collections than hoped for and the persistence of Coronavirus prevented staging normal fundraising events. The main PCC operating costs continued unabated. The PCC is very grateful for the receipt of two significant legacies totalling £40,000 and in 2022 will determine how these will be deployed.

At December 31 the PCC was solvent and it reports a reduction in the general fund for the year of £545. 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.

The PCC paid £30,000 of the £60,303 diocesan share amount requested by the diocese in 2021. Had it paid the full amount it would have been in contravention of its reserves policy, against the Charity Commission’s guidelines.

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

22 March 2022

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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 2021 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

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

.........................................................................22 March 2022

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 2021 to 31 December 2021

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
50,563
2,122
–
–
1,258
1,971
55,914
55,448
466
500
-1,511
–
-545
32,716
32,171		 Designated
funds
40,000
–
5,675
1,242
16
–
46,933
1,519
45,414
3,440
-2,490
3,123
49,487
73,314
122,801		 Restricted
funds
6,606
–
–
–
35
–
6,641
8,702
-2,061
12,499
-12,435
–
-1,997
58,337
56,340		 2021
97,169
2,122
5,675
1,242
1,309
1,971
109,488
65,669
43,819
16,439
-16,436
3,123
46,945
164,367
211,312		 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

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 2021

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
M&G Charifund
Fixed assets
9
Total assets
Liabilities – agency accounts
10,11
Net assets at 31 December
8,12		 General
funds
28,624
–
3,545
–
–
–
–
–
32,169
–
–
32,169
–
32,169		 Designated
funds
15,934
33,846
–
–
4,644
10,693
8,207
23,008
96,332
26,471
–
122,803
–
122,803		 Restricted
funds
8,182
51,154
225
100
–
–
–
–
59,661
–
–
59,661
3,321
56,340		 2021
52,740
85,000
3,770
100
4,644
10,693
8,207
23,008
188,162
26,471
–
214,633
3,321
211,312		 2020
40,421
60,999
3,883
100
8,102
6,692
5,884
18,005
144,086
23,347
–
167,433
3,066
164,367

Approved by the PCC at a meeting held on 22 March 2022 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

Year Ending 31 December 2021

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 can only be used for particular restricted purposes within the objects of the PCC. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Note 2. Collections and donations

Standing orders and envelopes
Legacies
CAF cheques
Give.Net
Parish Giving Scheme
GoodBox and wall safe
Cash collections
Gift Aid tax refunds
Grants
General donations		 General
29,671
–
1,775
385
4,876
804
2,697
8,720
–
1,635
50,563		 Designated
–
40,000
–
–
–
–
–
–
–
–
40,000		 Restricted
1,320
–
635
–
–
–
–
465
3,736
450
6,606		 2021
30,991
40,000
2,410
385
4,876
804
2,697
9,185
3,736
2,085
97,169		 2020
34,594
–
2,360
237
2,372
399
1,849
9,691
10,169
8,618
70,289

Note 3. Income from events

Fundraising events were curtailed during the year due to Covid-19 restrictions. £2,122 revenue was raised from the annual Fonthill House Open Garden event and a sponsored walk.

Note 4. Hinton Hall

Receipts
Payments
Net Income		 2021
12,622
6,947
5,675		 2020
14,784
8,203
6,581

Hinton Hall received Covid-19 Small Business Grants totalling £10,365 (2020: £10,000).

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Note 5. Focus Magazine

Receipts
Payments
Net Income
Note 6. Income from other activities
Fees
Team share refund
Hire of church
Book sales
Note 7. Parish operating costs
General
Diocesan quota
30,000
Nadder Valley Team share
1,468
Organist
4,500
Altar
440
Heating oil
2,050
Water
82
Electricity
751
Insurance
3,815
Churchyard maintenance
1,513
Organ
798
Insurance excess re food damage
500
General maintenance
2,552
Other repairs
2,620
Development expenses
–
Ofce expenses and stafng
2,341
Printing, stationery, books
1,485
Choir
473
Mission giving
60
Mission at Christmas
–
55,448		 Designated
–
–
–
–
–
–
–
–
81
–
–
–
1,438
–
–
–
–
–
–
1,519		 Restricted
–
–
–
–
–
–
–
–
–
–
–
–
8,153
–
–
–
549
–
–
8,702		 2021
10,240
8,998
1,242
2021
1,971
0
0
0
1,971
2021
30,000
1,468
4,500
440
2,050
82
751
3,815
1,594
798
500
2,552
12,211
–
2,341
1,485
1,022
60
–
65,669		 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
–
1,176
23,502
3,001
8,916
385
599
300
715
85,842

Note 6. Income from other activities

Note 7. Parish operating costs

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Note 8. General, designated and restricted funds

Unrestricted
General
Designated
Hinton Hall
Focus Magazine
Gifts and Memorials
East Window
Christmas Fund
Restricted
East Window
Clock
Lee Abbey
Fabric
Friends and Memorials
Flowers
Development		 General
32,171
–
–
–
–
–
–
–
–
–
–
–
–
32,171		 Designated
–
31,215
15,337
68,187
8,062
–
–
–
–
–
–
–
–
122,801		 Restricted
–
–
–
–
–
634
12,435
302
100
5,904
12,989
145
23,831
56,340		 2021
32,171
31,215
15,337
68,187
8,062
634
12,435
302
100
5,904
12,989
145
23,831
211,312		 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

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 £3,256 and Save the Children £65.

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 2021 diocese share request was for £60,303 (2020: £60,303) and the PCC was able to pay £30,000 (2020: £30,000) towards that request. The accumulated unpaid balance of £123,819 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 2021 was £32,171 (2020: £32,715) which complies with the minimum reserves balance policy.

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