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2020-12-31-accounts

Charity Registration Number

1142767

Evesham Parochial Church Council

The Parochial Church Council of All Saints, Evesham with St Lawrence

Unaudited Financial Statements

For the Year Ended 31 December 2020

Evesham Parochial Church Council

Contents of the Financial Statements For the Year Ended 31 December 2020

Page
Report of the Trustees 1 - 8
Statement of Trustees' Responsibilities 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 - 28

Evesham Parochial Church Council

Report of the Trustees For the Year Ended 31 December 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Administrative Information

The PCC is a body corporate (PCC Powers Measures 1956, Church Representation Rules 2006) and is a charity registered with the Charity Commission. The correspondence address and key contact details are given below.

Registered charity number (England & Wales): Registered office and Correspondence address:

1142767 Church House Market Place Evesham Worcestershire WR11 4RW

Office telephone: 01386 442213 E-mail: office@evesham.church Website: www.eveshamparish.com

Day to day management is delegated to the Parish Administrator, Katy Tarplee.

Members of the PCC

Incumbent: Church Wardens:

Deanery Synod Representatives: Members: (excluding ex officio)

Reverend Andrew Spurr Karen Sumpter (Resigned 06/09/2020) John Inwood Roberta Matthews (Appointed 06/09/2020) Karen Sumpter (Resigned 06/09/2020) Carol Sheehan Sue Hopkins (Resigned 06/09/2020) Rosie Grove John Liggitt Sheila Wilkinson Sara Greedy Clive Greedy Amy Cook-Hall (Appointed 06/09/2020) David Hall (Appointed 06/09/2020) Lee Fisher (Appointed 06/09/2020) John Ellis (Appointed 06/09/2020) Jayne Fleetwood (Appointed 06/09/2020)

Lay Chair of the Council: Secretary: Covenant Registrar: Disclosure and Barring Service (DBS) Registrar: Representatives to Churches Together:

Karen Sumpter (Resigned 06/09/2020) Sara Greedy Carol Sheehan Carol Sheehan Rosie Grove Roberta Matthews

1

Evesham Parochial Church Council

Report of the Trustees

For the Year Ended 31 December 2020 (continued)

Members of the PCC (Continued)

PCC members are appointed in accordance with the Church Representation Rules. The Incumbent, Church Wardens, Asum Lay Minister and Deanery Synod Representatives are ex-officio members of the PCC. Other members are elected at the Annual Parochial Church Meeting (APCM), or co-opted during the year.

Bankers, legal and other advisors:

Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Independent Examiner: Rob Richards FCA CTA FCCA The Richards Sandy Partnership Ltd Thorneloe House 25 Barbourne Road Worcester WR1 1RU Surveyor: Alan Simcox Nick Joyce Architects LLP 5 Barbourne Road Worcester WR1 1RS

Objects and Activities

The primary object of all PCCs is the promotion of the Gospel of our Lord Jesus Christ, according to the doctrines and practices of the Church of England. The PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish of Evesham, All Saints with St Lawrence the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

The PCC is committed to enabling as many people as possible to worship in All Saints and to become part of the parish community. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

The PCC has complied with its duty under section 17(5) of the Charities Act 2011 to have due regard to guidance on public benefit, published by the Charity Commission.

The PCC is aware of its duty to have regard to House of Bishops’ guidance on safeguarding children and vulnerable adults. The PCC uses the ‘Safeguarding Toolkit’ provided in the diocese as a way of self-assessment to seek to ensure it fulfils that duty.

We try to enable people to live out their faith as part of our parish community through:

Evesham Parochial Church Council

Report of the Trustees

For the Year Ended 31 December 2020 (continued)

Objects and Activities (continued)

To facilitate this work it is important that we maintain the fabric of the Church of All Saints and adjoining Church House.

Structure, Governance and Management

In 2020 the PCC worked through the following committees:

Standing Committee

The only committee required by law. It has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. This committee comprises the Incumbent, the Churchwardens, the Treasurer and the Chair of the Finance Committee. The chair of this committee is the Reverend Andrew Spurr.

Liturgy and Mission Committee

Responsible for formulating mission policy for the PCC and for co-ordinating the working of the church’s mission in appropriate liturgy. The chair of this committee is the Reverend Andrew Spurr.

Fabric Committee

Responsible for managing the repair and upkeep of the properties for which the PCC is responsible. The chair of this committee is John Inwood.

Finance Committee

Responsible for overseeing the finances of the PCC. The chair of this committee was Karen Sumpter until September. A new chair has yet to be appointed.

In 2020 the following organisations within the congregation actively supported the work and life of the church.

Bell Ringers’ Guild

Responsible for the bell ringing in the Bell Tower (including prior to main services), for encouraging and training new ringers and for acting as host to visiting ringing groups. The key contact for this Guild is Chris Povey.

SmAll Saints

We have a monthly group called “Splash!” that meets on the first Sunday of the month from 3-4.30 pm. This is for children aged 4 to 11 years. Children younger are welcome to stay if a parent stays with them. Splash! is lively, with singing, stories and interactive bible based arts crafts and baking. There are prayers and a symbolic and actual sharing of food and drink together. During the last five minutes the children (and some adults) chase each other round the Church with water sprayers- echoes of spraying the congregation in baptism!

We then have regular events to celebrate the seasons usually these are around Easter, Halloween and Advent/Christmas. These have a seasonal theme and are similarly arts and crafts based with food and a service.

In August we arrange and supervise 3 coach trips out on Wednesdays. The aim is to offer reasonably priced days out over the summer holidays for parents that don’t have access to a car. We only charge enough to cover the cost of the coach and subsidise larger families so that the size of family is not a barrier.

The key contact for SmAll Saints is Rosie Grove.

3

Evesham Parochial Church Council

Report of the Trustees

For the Year Ended 31 December 2020 (continued)

Structure, Governance and Management (continued)

Baptism

There are two of us who are church contacts for baptism and do visits prior to the baptism and follow up. The key contact is Rosie Grove.

The Tea Service

This takes place between 2-3pm every Friday in the Church. The aim is to support people living with dementia their friends and family but others are welcome. It consists of tea and cake served at small tables café style in Church. There is no charge and no need to book- just turn up. There are things to stimulate conversation and memories on the tables. There is often live music played on the grand piano. Towards the end of the hour a short ecumenical service that consists of well-known hymns/songs , a short thought for the day and prayer. This is managed with the support of Churches Together and Rosie Grove is the key contact for anyone who wants to come along to help.

Parish Magazine

Responsible for the production and distribution of the monthly parish magazine, including raising and collecting advertising income and subscriptions. The key contact is by e-mail to magazine@evesham.church

Flower Guild

Responsible for the flowers in the church. The key contact for this guild is Merry Privett.

Kneelers’ Guild

Responsible for maintaining and replacing the kneelers in the church. The key contact for this Guild is Mary Brotherton.

Church Cleaning Guild

Responsible for the cleaning and presentation of the church. The key contact for this Guild is Glenda Harrison.

Church House and Walker Hall Trustees

Responsible for the Old part of Church House, Walker Hall, and the workshop. Chair: Andrew Spurr

Retreat House Trustees

Responsible for the Retreat House, currently rented to LaPorta Antiques. Chair: via All Saints Office

Friends of All Saints

Responsible for fundraising for costs acquired in running the church of All Saints. Chair: Sue Ablett

4

Evesham Parochial Church Council

Report of the Trustees

For the Year Ended 31 December 2020 (continued)

Financial Review

The total of unrestricted voluntary giving has decreased this year to £29,729 compared to £38,269 in 2019. As illustrated in the table below, following the increase last year, the number of regular givers has decreased and the average decreased.

Year Regular
Giving (with
Gift Aid)		 Regular
Giving (not
Gift Aid)		 Total
Numbers		 Total Regular
Giving		 Average
Giving
2016 40 10 50 23,597 472
2017 31 7 38 21,473 565
2018 29 10 39 19,632 503
2019 29 9 38 24,262 638
2020 27 5 32 19,241 601

The “Goodbox”, installed in 2019, has generated receipts of £279 (August to December 2019: £230) during the year. This lower than expected figure reflects to closure of the church for much of the year and the resultant lower footfall of visitors.

Again, we have benefitted from the valuable support from John Martin’s Charity where we have received £19,265 in 2020 (£20,318 in 2019).

We received £2,000 of unrestricted legacies in 2020 (2019: £200)

Unrestricted income from activities for generating funds has decreased from £14,721 in 2019 to £7,480 in 2020. This large decrease reflects the reduction in the use of the Church and Church House by third parties, income from this has reduced by £2,610. In 2019 there was a receipt for the Insurance claim of £5,240 for repairs to the damaged window. The main income included in 2020 is two donations from the friends of £2,750 for stonework repairs to the gate and entrance porch and £1,000 for reprinting of the guide book.

There has been a very small reduction in income from our financial investments from £3,855 to £3,580.

The income from our property investments remained the same at £19,680 and continues to be a valuable contribution to our operating expenditure.

Our income from fees charged for wedding and funerals was lower at £1,735 (2019 £3,832) due to a reduced number of weddings.

There has been a decrease in the income from the Parish Magazine, but a decrease in costs has had the effect of reducing our net cost to produce and distribute the magazine from £681 in 2019 to £249 for 2020.

Investment management costs have increased from £2,301 in 2019 to £3,287 in 2020. This was due to maintenance costs at 16 Albert Road and a revaluation fee for the Vine Street property of £750. The net surplus realised from these investments was £16,393 (2019 - £17,379)

Donations for our Food Bank have increased substantially from £1,200 in 2019 to £10,572 in 2020. The costs of providing goods for the Food Bank have also increased from £4,107 to £4,845. The

5

Evesham Parochial Church Council

Report of the Trustees

For the Year Ended 31 December 2020 (continued)

demand for this service has seen a substantial increase and some of the current surplus funds will be used to improve the service facilities. The Trustees consider that these funds should now be classed as Restricted and this fund is now reported in Restricted Funds.

Ministry expenses have decreased to £2,019 (2019: £2,835). The costs of the ASUM Lay Missioner are shared with the parishes of St Peters (Bengeworth), St Andrew (Hampton) and All Saints (Evesham).

There has been a small increase in our insurance premiums. The total premium for 2020 was £7,190 (2019: £6,690).

The costs of Electricity and Gas have decreased from £9,924 in 2019 to £7,854 in 2020 reflecting the reduced use of the buildings during the year.

Expenditure on Caretaking has reduced following the retirement of our caretaker in June.

As advised last year, we have seen an increase in expenditure on Building Maintenance. The main items were: £4,034 Lighting in the Church; £1,246 CCTV and security improvements; £5,325 Update of Church House Communications and IT Facilities: and £2,982 Church House carpet replacements.

The Statement of Financial Activities (SOFA) shows that the PCC continues to have net unrestricted expenses exceeding income. In 2020, this amounted to £29,472 compared with £25,892 in 2019.

The trustees have reviewed the appropriate risks to the charity and recognise that loss of funding and voluntary income is a substantial risk facing the charity given the decreasing incoming resources year on year. They believe that a minimum of 12 months expenditure at current levels should be retained to ensure that the charity is able to continue its operations for a year should funding and donations become difficult to obtain. Total unrestricted expenditure for the year amounted to £117,786 and therefore current free reserves of £92,765 being 9.5 months expenditure (2019: 9.8 months). The trustees therefore confirm that the reserves policy has been exceeded and will work to ensure that the retained earnings remains above this level in the future.

It is essential that we continue to review both the raising of income and the reduction of our costs without reducing the level of mission that we currently undertake.

6

Evesham Parochial Church Council Report of the Trustees

For the year ended 31 December 2020 (Continued)

Five Year Review

Giving, activities and other
Voluntary income (giving)
Generating funds
Other income
Income giving/activities
Resources expended
Parish share
Other expenses
Total resources expended
Net incoming/(outgoing) before investment income
Investment income
Net incoming/(outgoing) before grants and legacies
Grants and legacies
Grant income
Legacies and memeorials
Net incoming/(outgoing) resources		 2016
2017
2018
2019
2020
£
£
£
£
£
42,472
42,614
38,120
39,629
40,571
7,205
15,717
6,578
14,721
7,480
3,589
4,416
5,992
3,832
1,735
53,266
62,747
50,690
58,182
49,786
50,731
39,029
40,986
30,652
31,265
231,758
131,404
93,126
99,889
92,094
282,489
170,433
134,112
130,541
123,359
(229,223)
(107,686)
(83,422)
(72,359)
(73,573)
26,841
27,292
27,314
25,659
24,659
(202,382)
(80,394)
(56,108)
(46,700)
(48,914)
57,254
24,488
20,790
20,318
19,265
5,251
-
200
200
2,000
(139,877)
(55,906)
(35,118)
(26,182)
(27,649)

Designated Funds

The PCC has designated the following funds: Mission and Liturgy Reserve and Fabric Reserve. The policy on designated reserves is reviewed annually by the PCC. The analysis of designated funds includes reconciliations back to the headings in the main financial statements. Where items have not been assigned to a fund (notably fixed assets and the creditor for parish share) these are reconciling items.

Mission and Liturgy Fund

The Mission and Liturgy Fund is intended to provide funds to support the work of the PCC in promoting the whole mission of the church (pastoral, evangelistic, social and ecumenical) in the ecclesiastical parish of Evesham, All Saints and St Lawrence. The residential investment property, previously the curate’s house, has been allocated to this fund. Rental income from this property is used to maintain this asset and to support mission and liturgy work. Any excess of income over expenditure is transferred to the General Fund.

The fund had income of £8,485 (2019 £8,765) and expenses of £10,198 (2019 £9,545). The residential property was reviewed and its carrying value has not been changed. After a transfer from the unrestricted fund of £1,714, the balance on this fund at 31 December 2020 was £180,000 (2019 £180,000) representing the residential rental property.

Fabric Fund

The Fabric Fund is intended to provide funds to support the PCC in maintenance responsibilities for All Saints Church, Church House and the Bell Tower. As might be expected of buildings of their age, and despite regular maintenance, substantial liabilities arise from time to time regarding the fabric of these buildings.

The existing investments, built up over many years through goodwill and generosity of the parishioners, have been assigned to the maintenance and upkeep of the church buildings. These investments help ensure adequate realised income to fund expected repairs, running costs and capital improvements. Unrealised gains are retained in the assets to help ensure an adequate future asset base. Any surplus of realised income over expected expense is transferred to the General Reserve.

This fund had income of £16,347 (2019: £14,200) and expenditure of £35,468 (2019: £41,270). A transfer of £4,776 was made from the General Fund. After revaluation and disposal gains on investments of £8,098 (2019 gain of £55,962) the balance on this fund at 31 December 2020 was £273,197 (2019 £279,443), representing investment assets and cash.

7

Evesham Parochial Church Council Report of the Trustees For the year ended 31 December 2020 (Continued)

General Unrestricted Fund

All other accounts (assets, liabilities, income and expenses) have been allocated to the General Fund. The General Fund is maintained to cover any short-term excess of expenditure over income, unforeseen rises in expenditure and other financial contingency, and to provide adequate working capital so that the operations of the PCC can be maintained at such times. Parish share is paid out of General Reserve. It is the policy of the PCC to hold a balance on the General Reserve equivalent to twelve months expected general expenditure (that is, expenditure not relating to mission, liturgy or fabric expenses and excluding parish share).

The fund had income of £58,636 (2019 £76,709) and expenses of £67,275 (2019 £71,844) including parish share of £31,265 (2019 £30,652). After transfers to designated funds and the write back of the parish share liability, the balance on this reserve was £60,493 (2019 £75,621).

Financial Review Summary

The statement of financial activities (SOFA) shows that unrestricted incoming resources amount to £83,469 (2019 £100,874). Unrestricted resources expended amounted to £112,941 (2019 £126,766) and net outgoing resources were therefore £29,472 (2019 £25,892). The principal funding sources are voluntary donations from congregation and investment income from CBF investment accounts.

Restricted incoming resources were £12,241 (2019 £3,484) and expenses £10,418 (2019 £3,774) leading to net restricted income of £1,823 (2019 income £290). The principal funding sources are voluntary giving and investment income.

8

Evesham Parochial Church Council Report of the Trustees For the year ended 31 December 2020

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Parochial Church Council on 16 th April 2021 and signed on its behalf by:

Revd Andrew Spurr

9

Independent Examiner's Report to the Trustees of Evesham Parochial Church Council

I report to the members on my examination of the accounts of the PCC for the year ended 31 December 2020 which are set out on pages 11 to 28.

Responsibilities and basis of report

As the charities members 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 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.

Rob Richards FCA CTA FCCA The Richard Sandy Partnership Ltd Chartered Certified Accountants Thorneloe House 25 Barbourne Road Worcester WR1 1RU

10

Evesham Parochial Church Council Statement of Financial Activities for the 12 months ended 31st December 2020

Note
Income From
Incoming resources from generated funds
Voluntary income (giving)
Voluntary income (grants)
Voluntary income (legacies)
Other trading income
Investment income
Incoming resources from church activities
Total incoming resources
2 & 6
Expenditure On
Raising funds
Costs of generating voluntary income
Investment management costs
Church activities
Parish share
Total resources expended
3 & 6
Net outgoing resources		 Unrestricted
Restricted
YTD
YTD
Funds
Funds
Funds
Funds
2020
2019
£
£
£
£
29,729
10,842
40,571
39,629
19,265
-
19,265
20,318
2,000
-
2,000
200
7,480
-
7,480
14,721
23,260
1,399
24,659
25,659
1,735
-
1,735
3,832
83,468
12,241
95,710
104,359
1,053
-
1,053
2,849
3,287
-
3,287
2,301
77,336
10,418
87,754
94,740
31,265
-
31,265
30,652
112,941
10,418
123,359
130,542
(29,473)
1,823
(27,649)
(26,183)
Other recognised gains/losses
Gain on revaluation of investment properties
Realised gain on sale of investments
Unrealised gain on revaluation of investments
Write back historic Parish Share Liability
Net movement in funds
Reconciliation of Funds
B/Fwd Balance
C/Fwd Balance		 -
-
-
59,500
-
-
-
3,897
8,098
3,214
11,312
27,528
73,481
(21,375)
5,037
(16,338)
138,223
535,064
111,521
646,585
508,362
513,689
116,558
630,247
646,585

11

Evesham Parochial Church Council Balance Sheet as at 31st December 2020

Note
Fixed assets
Tangible fixed assets
12
Investment properties
13
Investments
14
Current assets
Debtors and prepayments
Prepayments
16
Income tax recoverable
Debtors
15
Cash at bank and in hand
Liabilities:amounts falling due within one year
Creditors
17
Accruals for utilities
18
Parish share
Net current assets
Total net assets
Funds		 Unrestricted
Restricted
As at
As at
funds
funds
December
December
2020
2019
£
£
£
£
84,151
44,411
128,562
137,694
342,500
342,500
342,500
111,244
65,940
177,184
165,872
537,895
110,351
648,246
646,066
556
556
564
3,564
3,564
3,821
87
87
87
-
6,207
6,207
12,753
4,207
6,207
10,414
17,225
3,640
-
3,640
5,643
14,351
14,351
11,063
10,422
10,422
-
28,413
-
28,413
16,706
(24,206)
6,207
(17,999)
519
513,689
116,558
630,247
646,585
513,689
116,558
630,247
646,585

Approved by the PCC on the 16th April 2021 and signed on their behalf by:

Reverend Andrew Spurr John Inwood Chairman of the PCC Church Warden The notes on pages 13 to 28 form part of these accounts

12

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

1. Accounting policies

The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with the Charities SORP (FRS102) ‘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 (FRS102) (effective 1 January 2019)’ and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention with the exception of investments which are included at fair value, as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these statements are rounded to the nearest pound.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity becomes legally entitled to the income and the amount can be quantified with reasonable accuracy.

Donated facilities and volunteer services

Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Income from donations and grants

Income from donations and grants, including capital grants, are included in incoming resources when receivable (i.e. when the PCC is legally entitled to the amounts due) with the following exceptions:

When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to preconditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

Voluntary income

Collections are recognised when received by or received on behalf of the PCC. Planned giving receivable under Gift Aid is recognised when received.

Income tax recoverable on Gift Aid donations is recognised when the income is recognised.

Income tax recoverable under the Gift Aid Small Donations Scheme (GASDS), introduced on 6th April 2013, is recognised based on donations received to date.

Legacies to the PCC are recognised when the PCC is legally entitled to the amounts due.

13

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020 (Continued)

Amounts received specifically for mission or for other charities are dealt with as restricted funds.

Income from investments

Dividends and interest are recognised when the charity is entitled to receipt.

Gains and losses on investments

Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are recognised on the valuation to fair value of those investments.

Government Grants

The Charities SORP states that where the conditions attached to a grant are within the charity's control and there is sufficient evidence those conditions may be met, then the incoming resources should be recognised as incoming resource. Where uncertainty exists as to whether the charity can meet conditions within its control, the grant should be deferred as a liability until certainty exists that the conditions imposed can be met.

Other income

Sales of books and guides, funds raised by events, parochial fees receivable and other income are recognised when received. All incoming resources are accounted for gross.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants and donations are accounted for when paid, or when awarded if that award creates a binding obligation on the PCC.

Parish share is accounted for when due. Any parish share unpaid at 31 December is provided for in these financial statements as an operational and moral (though not a legal) liability and is shown as a creditor in the Balance Sheet. Governance costs relate to the cost of the independent examination of the accounts. All other expenditure is recognised when incurred and is accounted for gross.

Fixed assets

Consecrated and benefice property and repair of such property

Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) of the Charities Act (2011). All expenditure incurred during the year on consecrated or benefice buildings or on repair of moveable church furnishings is recognised as an expense.

Moveable church furnishings held by the vicar and churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. These assets are listed in the church's inventory which can be inspected at any reasonable time. These assets are not valued as there is insufficient reliable cost information relating to such inalienable property and conventional valuation approaches lack sufficient reliability.

Functional fixed assets

Fixed assets other than investment assets and investment properties are not revalued. There is insufficient information available for assets acquired prior to 2002 and therefore such assets are not valued in the financial statements. All such expenditure has been written off when incurred.

Following FRS102 the cost of the land of the Church House extension is not depreciated.

FRS102 states that where an asset comprises a number of different components with differing life spans, then each component should be depreciated over its individual life span. The Church House extension comprises a number of different components (roof, structure, kitchen, etc). The historic cost of these individual components is not available while the total historic cost is known.

14

Evesham Parochial Church Council Notes to the accounts

for the year ended 31 December 2020 (Continued)

Indicative allocation figures have been sourced with respect to housing from the National Housing Federation (NHF) (in conjunction with valuers Savills). While the Church House extension is clearly not a residential dwelling, the property is considered to be sufficiently comparable for these figures to be adopted as the basis for a reasonable allocation and the development of appropriate policies by the PCC. These policies have been reviewed and amended following professional guidance.

Church House comprises a number of different components each of which is depreciated on a straight-line basis with the following estimated useful economic lives:

Structure - 150 years Roof - 80 years Electrics - 25 years Windows & doors - 30 years Electrical heating - 30 years Bathrooms - 40 years Kitchen units - 25 years Church Chairs – 10 years

The useful economic life of selected components of the Church House extension exceeds 50 years. As per FRS102 these assets are subject to an annual impairment review performed either by the treasurer or by the Finance Committee. The heating system used within the church is depreciated on a straight line basis over an estimated life of 25 years. This policy has been revised with the asset life being extended from 10 years to 25 years reflecting professional opinion following the servicing of the boiler in 2012.

The church lighting scheme is depreciated on a straight line basis at 10% per annum (estimated life of 10 years). This scheme became operational in December 2008.

The heating system used in Church House is depreciated on a straight line basis at 10% per annum (estimated life of 10 years). This system became operational in December 2008.

Individual items of equipment with a purchase price of £500 or less are written off when acquired.

Investment assets

Investments are valued at fair value at 31 December. Unrealised gains or losses on revaluation are credited or debited to the fund to which they relate. Investment properties are valued at the trustee's best estimate of fair value. As the lease on the residential investment property is relatively short, this property is valued at comparable average property prices in a reasonable market. The valuation is based on a set of valuations, recent house sales of comparable local properties and Halifax house price inflation. Unrealised gains or losses on revaluation are credited or debited to the fund to which they relate.

Liabilities

Liabilities are included in the accounts as soon as recognised. Where a government grant has been received, but the related expenditure has not been incurred, then that grant is recognised as a creditor. Please note that such grants are repayable to the relevant grant-making body if the conditions of use are not met.

Provision for Liabilities and Charges

In line with SORP where the PCC has earmarked part of its unrestricted funds for a particular future purpose, this intention to expend funds in the future is not recognised as a provision for a liability in the accounts.

15

Evesham Parochial Church Council Notes to the accounts

for the year ended 31 December 2020 (Continued)

Taxation

The Charity has charitable status and is thus exempt from taxation of its income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives.

Funds

Reserves are held in order to support and advance the responsibilities of the PCC.

Restricted Funds

Restricted funds represent:

The funds may only be expended on the specific object for which they were given. Any balances remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.

The PCC endeavours to ensure that costs which can be properly attributed to restricted funds are charged to those funds. Note 3 details the basis and movement of restricted funds.

Unrestricted funds

Unrestricted funds are general funds which can be used for PCC ordinary purposes. Funds designated for a particular purpose by the PCC are also unrestricted. Note 3 details the funds designated by the PCC (and where applicable detailing the reserve to be maintained) and transfers between funds.

Transfers between designated funds

Any deficit on the Mission & Liturgy Fund is met by transferring surplus amounts from the General Fund. Any surplus of realised income over expected expense is transferred to the General Fund, and any deficit is addressed by a transfer from the General Fund.

The policy of the PCC is to hold a balance on the General Fund equivalent to twelve months expected general expenditure.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities.

Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

16

Evesham Parochial Church Council

for the 12 months ended 31st December 2020

2 INCOMING RESOURCES

Voluntary income (giving)
Planned giving:
Gift Aid donations
PGS Scheme
Income tax recoverable
Gift Aid Small Donations Scheme
Collections at all services
Other donations
Fabric box
Goodbox
Job Retention Scheme Grant
Voluntary income (grants)
John Martin's Charity
Voluntary income (legacies)
Legacies
Activities for generating funds
Parish magazine sales
Parish magazine advertising
Sale of parish guides and books
Social events (including fête)
Hire of Church and Church House
Other income
Investment income		 Designated
Unrestricted
Mission &
General
Liturgy
Fabric
Fund
Fund
Fund
£
£
£
12,076
7,165
4,364
975
1,995
733
289
279
1,854
29,729
-
-
19,265
19,265
-
-
2,000
-
157
647
110
-
1,855
961
3,750
2,926
804
3,750
-		 YTD
2020
£
12,076
7,165
4,364
975
1,995
733
289
279
1,854
29,729
19,265
19,265
2,000
157
647
110
-
1,855
4,711
7,480		 YTD
2019
£
19,001
-
5,261
2,171
6,307
3,711
1,588
230
-
38,269
20,318
20,318
200
216
820
98
1,035
4,465
8,088
14,721
Income from investments 2,983
597		 3,580 3,855
Rent receivable from:
Commercial investment property
Residential investment property
Income from church activities
Fees
Total incoming resources		 12,000
7,680
2,983
7,680
12,597
1,735
58,638
8,484
16,347		 12,000
7,680
23,260
1,735
83,469		 12,000
7,680
23,535
3,832
100,874

17

Evesham Parochial Church Council

for the 12 months ended 31st December 2020

3 RESOURCES EXPENDED

Designated
Unrestricted
Mission &
General
Liturgy
Fabric
Fund
Fund
Fund
£
£
£
Fundraising costs
Cost of magazine
1,053
Cost of social events
-
-
1,053
-
Investment management costs
Rent collection for residential investment property
922
Property repairs of investment property
1,615
750
-
2,537
750
Church activities
Missionary and charitable giving:
Home
-
Ministry:
Ministry / clergy expenses
761
Cost of services
1,258
Insurance
1,915
5,275
Electricity and gas
4,974
2,880
Rent of Church House
1,800
Water Rates
83
83
Caretaking, cleaning wages and materials
2,456
4,898
Building maintenance
18,908
Depreciation
1,927
2,130
Music costs:
Organists salary, organ and music costs
4,590
512
Sound system repairs and maintenance
33
Support costs:
Office and secretarial expenses
14,781
Treasurer Fees
2,450
Cost of computer, printing, stationery, etc.
1,647
Photocopying costs
1,505
Other costs:
Safeguarding/DBS
115
-
Independent examiner's fees
1,356
Sundry expenses
1,002
-
36,010
6,608
34,718
Parish share
Parish share
31,265
Total resources expended
67,275
10,198
35,468		 YTD
2020
£
1,053
-
1,053
922
2,365
3,287
-
761
1,258
7,190
7,854
1,800
165
7,354
18,908
4,057
5,101
33
14,781
2,450
1,647
1,505
115
1,356
1,002
77,336
31,265
112,941		 YTD
2019
£
1,717
1,131
2,849
922
1,379
2,301
4,107
1,304
1,531
6,690
9,924
1,800
124
12,641
15,630
4,062
5,800
1,466
15,580
3,747
1,449
1,908
-
1,344
1,857
90,964
30,652
126,765

18

Evesham Parochial Church Council Notes to the accounts

for the year ended 31 December 2020

4 RESOURCES, TRANSFERS AND ANALYSIS OF ASSETS

Total unrestricted incoming resources (Note 2)
Total unrestricted resources expended (Note 3)
Net incoming/(outgoing) resources before transfers
Transfers between funds
Net incoming/(outgoing) resources after transfers
Other recognised gains/(losses)
Gain/(loss) on revaluation of investment property
Gain/(loss) on revaluation of income shares
Gain/(loss) on revaluation of income units
Realised gain/(loss) on sale of investments
Write back historic Parish Share Liability
Net movement in funds		 Unrestricted
Funds
General
Mission &
Liturgy
Fabric
Total 2020
Total 2019
£
£
£
£
£
58,638
8,484
16,347
83,469
100,874
(67,275)
(10,198)
(35,468)
(112,941)
(126,766)
Designated Funds
(8,637)
(1,715)
(19,121)
(29,472)
(25,892)
(6,489)
1,715
4,776
-
-
(15,126)
-
(14,345)
(29,472)
(25,892)
-
-
-
-
59,500
-
-
6,851
6,851
15,699
-
-
1,247
1,247
4,463
-
-
-
-
416
-
-
-
-
73,481
(15,126)
-
(6,247)
(21,374)
127,667
Balance at 1 January 2020
Balance at 31 December 2020
Analysis of Assets
Tangible fixed assets (at Net Book Value)
Land of Church House extension
Church House extension structure
Church House extension roof
Church House extension fittings
Church House extensionelectrical heating
Church House extension bathroom
Church House extension kitchen
Church Heating
Investment properties
Commercial investment property
Residential investment property
Investments
Debtors and prepayments
Prepayments
Income tax recoverable
Debtors and prepayments
Cash at bank and in hand
Creditors
Accruals for utilities
Creditor for Parish Share		 75,621
180,000
279,443
535,064
407,397
60,495
180,000
273,197
513,690
535,064
15,000
-
-
15,000
15,000
34,002
-
-
34,002
34,281
2,044
-
-
2,044
2,083
65
-
-
65
100
46
-
-
46
63
476
-
-
476
515
32,247
-
-
32,247
33,764
-
-
271
271
2,401
83,880
-
271
84,151
88,207
-
-
162,500
162,500
162,500
-
180,000
-
180,000
180,000
-
-
111,245
111,245
119,130
523
-
33
556
564
3,564
-
-
3,564
3,821
87
-
-
87
87
-
-
-
-
(2,539)
(3,640)
-
-
(3,640)
(5,643)
(7,936)
-
(6,415)
(14,351)
(11,063)
(10,422)
(10,422)
76,478
180,000
257,212
513,690
535,064

19

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

5 DESIGNATED FUNDS

Mission & Liturgy Fund

The designated Mission & Liturgy Fund is used to support the work of the PCC in promoting the whole mission of the Church (pastoral, evangelistic, social and ecumenical) in the ecclesiastical parish of All Saints, Evesham, with St. Lawrence.

The residential investment property, the old curate's house, has been allocated to this fund. Rental income from this property is used to maintain this asset and also to support mission and liturgy work. Any excess of income over expenditure is transferred to the General Fund. Any deficit on the Mission & Liturgy Fund is met by transferring surplus amounts from the General Fund.

An amount of £1,715 was transferred to the designated Mission & Liturgy Fund from the unrestricted General Fund according to PCC policy.

Fabric Fund

The designated Fabric Fund is intended to support the PCC in its maintenance responsibilities for All Saints' Church and the Bell Tower.

As might be expected of buildings of their age, and despite regular maintenance, substantial liabilities arise from time to time regarding the fabric of these buildings. The existing investments, built up over many years through the goodwill and generosity of parishioners, have been assigned to the maintenance and upkeep of the church buildings. These investments help ensure adequate realised income to fund expected repairs, running costs and capital improvements. Unrealised gains are retained in the assets to ensure an adequate future asset base. Any surplus of realised income over expected expense is transferred to the General Fund, and any deficit is addressed by a transfer from the General Fund.

An amount of £4,776 was transferred from the designated Fabric Fund to the unrestricted General Fund according to PCC policy.

General Fund

All other accounts (assets, liabilities, income and expense) have been allocated to the General Reserve. This fund is maintained to cover any short-term excesses of expenditure over income, unforeseen rises in expenditure and other financial contingency, and to provide adequate working capital so that the operations of the PCC can be maintained at such times. Parish share is paid out of the General Fund. It is the policy of the PCC to hold a balance on the General Fund equivalent to twelve months expected general expenditure.

General activity this last year resulted in a net expenditure of £15,126, while the balance on this fund is £60,495.

20

Evesham Parochial Church Council

for the 12 months ended 31st December 2020

6 RESTRICTED FUNDS

Incoming resources
Voluntary income - giving
LPWGS - Current Year
Investment income
Total incoming resources
Resources expended
Church Activities
Missionary and charitable giving:
Overseas
Home
Fabric costs
Bank Charges
Depreciation
Total resources expended
Net incoming resources being
net movements in funds		 Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
Bell Tower
Restoration
Collections
Carillon
Food
AW Education
Fund
Fund
Fund
Fund
Bank
Fund
£
£
£
£
£
£
-
270
10,572
-
1,399
-
-
1,399
270
-
10,572
-
4,845
357
80
-
-
60
5,076
60
5,076
437
-
4,845
-
(60)
(3,677)
(167)
-
5,727
-		 Restricted
Restricted
Restricted
Restricted
Restricted
Restricted
Bell Tower
Restoration
Collections
Carillon
Food
AW Education
Fund
Fund
Fund
Fund
Bank
Fund
£
£
£
£
£
£
-
270
10,572
-
1,399
-
-
1,399
270
-
10,572
-
4,845
357
80
-
-
60
5,076
60
5,076
437
-
4,845
-
(60)
(3,677)
(167)
-
5,727
-		 YTD
Restricted
Funds
2020
£
10,842
-
1,399
12,241
4,845
357
80
-
60
5,076
10,418
1,823		 YTD
Restricted
Funds
2019
£
1,360
-
2,124
3,484
1,269
1,317
1,128
60
-
3,774
(290)
Other recognised gains/(losses)
Unrealised loss on revaluation of investments
Realised Gain on disposal of investments
Net movement in funds
Balances at 1st January		 3,214
(60)
(462)
(167)
-
5,727
-
2,790
107,731
176
(6)
830		 3,214
-
5,037
111,521		 7,365
3,481
10,556
100,965
Transfer from Restoration Fund to Carillon Fund (6)
6		 - -
Balances at 31st December 2,730
107,263		 9
-
5,727
830		 116,558 111,521
Analysis of Assets
Tangible Assets
Deposits
Cash at hand and in bank
Investments
Balances at 31st December		 44,411
-
-
2,730
12,896
-
49,955		 -
-
-
9
-
5,727
830
-
-
-
9
-
5,727
830		 44,411
-
22,192
49,955
116,558		 49,487
-
15,292
46,742
2,730
107,262		 111,521

Sources of Restricted Funds

The ‘Bell Tower’ fund contains the balance of grants and donations given to help pay for the conservation and maintenance of the Bell Tower. Interest on these monies are retained in this fund.

The fund had no income in the year and expenditure of £60. The balance on the fund at the year end was £2,730.

The ‘Restoration’ Fund arises from a generous legacy given by Miss Sylvia Martin for church restoration in memory of her mother Mrs Cecilia Martin whose remains are interred here. The executrix of the estate wrote to the PCC in 2014 providing examples of appropriate possible expenses; including repairing the roof, rewiring the lighting system, or repairing the sound loop. The executrix commented: “I am quite sure that now – from a better place – Sylvia would approve whatever practical or even beautifying use was made of her money, provided that the work carried out could be ascribed by, say, a small plaque on the wall – as being in grateful memory of Cecilia Martin, who worshipped in this church, and her birth and death dates.” The PCC considers the “Restoration” fund to apply to both All Saints’ Church and the Bell Tower.

The fund had an income of £1,399 from investments and a depreciation charge of £5,076. The balance on the fund at the year end was £107,262 after revaluation of the investments.

21

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

6 RESTRICTED FUNDS (continued)

The ‘Collections’ Fund comprises collections for other charities. Income was £270 and expenditure of £437. The balance on the fund at the year end was £9

The “Foodbank” Fund consists of donations received for the purchase of food and other household goods for distribution to those in need. This fund was classified as designated in prior years and the trustees have reclassified it as restricted in 2020.

The fund had an income of £10,572 (2019: £1,200) and an expenditure of £4,845 (2019: £4,107). The sum of £5,727 is held in this fund to provide support for the foodbank (2019: £2,907 transferred from General Fund). The ‘Carillon’ Fund arose from monies received for the provision and maintenance of the carillon. The ‘AW Education’ Fund is a fund to honour the commitment of Mr Whitehouse to Christian evangelism and ongoing spiritual development. It’s purpose will be to provide funding assistance for materials to be used in catechesis and other programmes of education in the Christian faith. There were no transactions during the year and the balance of the fund remains at £830.

7 COLLECTIONS

The following collections, made during the year are all restricted:

8

Collections per Restricted Collections Fund
Christingle (Children's Society)
Angel Tree (Long Lartin)
Charity Mission Morogoro
SWEP
Royal British Legion
Scout Parade
Christian Aid
Total		 Overseas
Home
Giving
giving
included in
included in
SOFA
SOFA
-
10
-
67
193
-
-
-
-
-
-
-
-
-		 Total
Total
2020
2019
10
235
67
216
193
-
-
70
-
358
-
141
-
340
193
77		 270
1,360
STAFF COSTS AND EMOLUMENTS
Gross wages and salaries
Social security costs
Pension Contributions
Total		 2020
2019
21,694
28,145
311
-
204
189
22,210
28,334

Average number of employees was equivalent to 1.0 (2019: 1.6) full time employees. The PCC is currently exempt from the requirements of the Welfare Reform and Pensions Act 1999 to provide access to a stakeholder pension scheme as it employs fewer than five full time employees. One employee is eligible to be enrolled in a stakeholder pension and this was actioned in April 2016. No employee received remuneration in excess of £60,000.

The average number of employees (not full time equivalent) was 2.5 (2019: 3).

22

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

9 RELATED PARTY TRANSACTIONS

FRS 8 ("Related Party Transaction") requires disclosure of related party transactions if the transaction is material and not concluded under normal market. The Charities SORP states that "trustee remuneration or other benefit should always be regarded as material", and details require disclosure.

Mrs Carol Sheehan was employed bewteen the 1st December 2013 and 31st March 2019 as parish administrator on a job share basis. Mrs Sheehan was a related party because she is a PCC member. In the current year Mrs Sheehan received a gross salary of £nil (2019:£1,632). There is no outstanding balance with this related party at the date of the Balance Sheet. There are no provisions for doubtful debts, nor related write-offs, in connection with this related party.

At the PCC Meeting held on the 19th October 2015, it was agreed that due to not being able to find a volunteer to act as PCC Treasurer that the post would be advertised and be a paid position. Mr J Liggitt of JL Accounting Services Ltd was appointed on the 1st November 2015 for a twelve month period at a fee of £4,480. Mr Liggitt was co-opted as a member of the PCC. Mr Liggitt's contract was extended in November 2016. From the 1st March 2019, the fees payable under this contract were reduced to £3,600 per annum. There is no outstanding balance with this related party at the date of the Balance Sheet. There are no provisions for doubtful debts, nor related write-offs, in connection with this related party.

With the exception of these two persons, no member of the PCC nor any connected person received any remuneration from the PCC.

Some members of the PCC, acting as agents for the PCC, made purchases on its behalf and were reimbursed for that expense. Some members of the PCC have also made donations to the PCC but the donors have not attached conditions.

10 COST OF INDEPENDENT EXAMINATION AND OTHER FINANCIAL SERVICES

The amount payable to the independent examiner in respect of external scrutiny, for the year ended 31 December 2020 was £1,356 (2019: £1,344). The independent examiner was not paid for any other financial services.

11 FINANCIAL INSTRUMENTS

Carrying amount of financial assets
Debt instruments measured at amortised cost
Equity Instruments measured at cost lest
impairments
Carrying amount of financial liabilities
Measured at amortised cost		 2020
6,294
177,184
183,478
28,413		 2019
12,840
165,872
178,712
16,706

23

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

12 TANGIBLE FIXED ASSETS

All restricted
Cost
At 1 January 2020
Additions
Revaluations
At 31 December 2020
Accumulated depreciation
At 1 January 2020
Charge for year
Disposals
At 31 December 2020
Net Book Value
At 31 December 2020
At 31 December 2019		 Church
Church
Church
Church
Church
Church
Church
Church
House
House
House
House
House
House
House
House
Church
extension
extension
extension
extension
extension
extension
extension
extension
House
Church
Church
Church
land
structure
roof
electrics
fittings
electric
heating
bathroom
kitchen
heating
heating
lighting
chairs
Total
15,000
41,814
3,136
2,091
1,045
522
1,568
37,938
10,259
53,256
37,937
50,756
255,322
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15,000
41,814
3,136
2,091
1,045
522
1,568
37,938
10,259
53,256
37,937
50,756
255,322
-
7,533
1,053
2,091
945
459
1,053
4,174
10,259
50,855
37,937
1,269
117,628
-
279
39
-
35
17
39
1,518
-
2,130
-
5,076
9,133
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,812
1,092
2,091
980
476
1,092
5,692
10,259
52,985
37,937
6,345
126,761
15,000
34,002
2,044
-
65
46
476
32,246
-
271
-
44,411
128,561
15,000
34,281
2,083
-
100
63
515
33,764
-
2,401
-
49,487
137,694

Church House is not owned by the PCC but by the "Trustees of Church House and Walker Hall". In November 1908 a legal document between the Queen Anne Bounty, Dr Walker (Vicar of All Saints), the Bishop of Worcester, the Ecclesiastical Commissioners and nine named Trustees, transferred the "Old Vicarage" (now called Church House) from the Benefice to the Trust. In December 1908 the Walker Hall was added to the Trust. The objects of the Trust are to manage the building which is to be used by the Vicar (or officiating minister) and the Trustees for divine service, Sunday School, class, meeting or lecture room for religious instruction or secular instruction under the control of the Vicar, clerical meetings or committees of any society connected with the C of E, and other meetings or other objects or purposes having in view the spiritual, intellectual, moral or social wants of members of the C of E which the Officiating Minister and the Trustees jointly think desirable. The extension to Church House is the property of the PCC and is under the sole care and responsibility of the PCC.

In March 2017, the kitchen in Church House was completely replaced at a cost of £37,938. This is being depreciated over 25 years commencing April 2017.

The historic cost of the Church House extension (all components except the kitchen units) is £50,176. The total annual depreciation of all components is £409. At 31st December 2020 the net book value of all components of the Church House extension is £36,633 (at 31st December 2019 £37,042).

Evesham Parochial Church Council Notes to the accounts

for the year ended 31 December 2020

13

INVESTMENT PROPERTIES

All unrestricted

Carrying value at 1 January
Gain/(Loss) on revaluation of investment properties
Market value at 31 December		 Residential
Commercial
Investment
Investment
Total
Total
Property
Property
2020
2019
£
£
£
£
180,000
162,500
342,500
342,500
-
-
-
-
180,000
162,500
342,500
342,500

Valuation of residential investment property

Per Charities SORP, and in line with FRS 102 the residential property was professionally revalued to market in 2019 and reviewed this year. The Trustees believe the properties to be accurately valued at the year end.

This investment property is held primarily to provide an investment return and is not programme related.

Valuation of commercial investment property

The commercial investment property was professionally revalued in 2019 and reviewed this year. Per Charities SORP, and in line with FRS 102, the commercial investment property has been valued at market value.

The property is leased under a 10 year lease which expires on 1st December 2024.

This investment property is held primarily to provide an investment return and is not programme related.

Historic Cost

All unrestricted

Historic Cost
All unrestricted
Residential Commercial
Investment Investment Total Total
Property Property 2020 2019
£ £ £ £
Historic cost 79,882 22,016 101,898 101,898

25

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

14 UK INVESTMENTS Unrestricted

Carrying value at 1 January
Disposal of investments
Realised gain/(loss) on disposal of investments
Transferred to restricted
Unrealised gain/(loss) on revaluation
Market Value at 31 December		 Income
Income
Total
Total
Shares
Units
2020
2019
£
£
£
£
99,626
19,504
119,130
111,554
-
-
-
(13,000)
-
-
-
416
(15,985)
(15,985)
-
6,852
1,247
8,099
20,160
90,493
20,751
111,244
119,130

Restricted

Carrying value at 1 January
Disposal of investments
Realised gain/(loss) on disposal of investments
Transfer from unrestricted
Unrealised gain/(loss) on revaluation
Market Value at 31 December
Total Investments		 Income
Shares
£
46,741
-
-
15,985
3,214
65,940		 Total
Total
2020
2019
£
£
46,741
85,895
-
(50,000)
-
3,481
15,985
-
3,214
7,365
65,940
46,741
177,184
165,871

The Charity Commission publication 'Charities and Reserves' (cc19) notes that in some circumstances there may be doubt as to whether a donation or legacy is a gift of income or endowment funds. This guidance goes on to note (p.15) that if any evidence exists, or can be inferred, from the circumstances of the donation or legacy, that a donor or testator had a specific intention one way or the other, the trustees must treat the gift or legacy accordingly. With this guidance in mind, a review was conducted in December 2013 of available documentation relating to the UK investment held by Evesham PCC.

The UK investments of income units relates to The Church Estate (St Lawrence)

The Church Estate (St Lawrence) fund was intended for "church expenses and upkeep" in connection with the Church of St Lawrence (per July 1927 form of application to the Charity Commission to authorize a sale). When this parish church was transferred to the Redundant Churches Fund (now called the Churches Conservation Trust) these funds were transferred to All Saints. This investment is still held.

In the light of the above it is clear that the UK investment of income units held by Evesham PCC are not restricted, the capital is available for use, and these funds are for general church purposes. Little documentation has been identified in relation to the history of the UK investment of income shares, but this is believed to relate to general church purposes for the parish.

26

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

15
DEBTORS
Unrestricted
LPWGS
Sundry		 Total
Total
2020
2019
£
£
68
68
19
19
87
87
16
PREPAYMENTS
Unrestricted
Prepayments
Prepaid water rates (church)
Prepaid water rates (Church House)
Prepaid music copyright
Prepaid photocopier rental
Prepaid telephone and broadband
Prepaid alarm system
Prepaid guard response
17
CREDITORS
Unrestricted
Creditor for independent examiner
Creditor for treasurer
Weddings & Funerals Control account
Advertising Control Account
Commercial investment rental creditor
Creditor for Asum Lay Missioner
Creditor for locking-up church
Creditor for Church House cleaning
Other creditors
18
ACCRUALS
Unrestricted
Accrual gas church
Accrual gas church house
Accrual electricity church
Accrual electricity Church House
Accrual electricity Bell Tower
Accrual Church House rent
Accrual telephone
Accrual Church House insurance
Accrual photocopier usage		 Total
Total
2020
2019
£
£
33
16
33
16
119
138
104
104
-
61
88
70
179
158
556
564
Total
Total
2020
2019
£
£
1,320
1,284
600
300
512
280
269
316
(250)
750
-
-
-
81
187
132
1,002
2,500
3,640
5,643
Total
Total
2020
2019
£
£
592
766
300
393
103
199
146
156
15
25
7,200
5,400
16
10
5,969
4,054
11
60
14,351
11,063

27

Evesham Parochial Church Council Notes to the accounts for the year ended 31 December 2020

19 FUNDS NOT INCLUDED IN THE ACCOUNTS

Bright Sparks, the Bellringers and the Choir accounts have not been included in these financial statements as they are under the control of their own respective organisations.

Vicars and Churchwarden funds, and the Vicar's discretionary funds, are not included in these accounts as they are held on trust, being available independently of the church for distribution to the poor.

20 CONNECTED CHARITIES

The "Friends of the Evesham Parish Church and the Bell Tower" (registered charity number 507102) is a charity connected to Evesham PCC. The objects of the society are "to co-operate with the Parochial Church Council in the preservation, adornment and general maintenance of the Evesham Parish Church and the Bell Tower, their activities and services, their ornaments and furnishings; to promote public interest in the Church and the Bell Tower, their history and their work."

The "Trustees of Church House and Walker Hall" is not a connected charity although the vicar is an ex-officio trustee and the trust administers Church House which is used by the PCC and Church Office.

The "Retreat House Trust" is not a connected charity. This Trust, which owns a property near Abbot Reginald’s gateway, exists to maintain that property and to provide support for All Saints' Church. The trustees of the charity "Trustees of Church House and Walker Hall" are also trustees of the "Retreat House Trust" with the exception of the vicar (who traditionally, as a potential beneficiary of the charity, is not invited to sit as a trustee).

The "John Martin's Charity" (registered charity number 527473) is not a connected charity although the vicar is ex-officio a trustee. The PCC is a recipient of grants from this charity which are provided under a scheme sealed on 28[th] February 1989 which provides that: "a further sum of not less than £50 but not exceeding 5% thereof [i.e. total income] in or towards defraying the expenditure incurred by the Parochial Church Council of the Ecclesiastical Parish of All Saints and St. Lawrence, Evesham, in maintaining and repairing the church buildings and in otherwise furthering the religious and educational work of the Church of England in that ecclesiastical parish."

The "Chapel of St Mary Magdalene" is not a connected charity although the vicar is an ex-officio managing trustee. Under a scheme sealed on 18[th] June 1992, the income of this charity, after first defraying the cost of managing its investments, is applied "towards providing and maintaining facilities for public worship at Evesham Community Hospital and otherwise furthering the religious and other charitable work of the Church of England in or near Evesham."

The "Evesham Abbey Bell Tower Appeal Trust" (registered charity 1152780) is not a connected charity although a past PCC treasurer is the chair, secretary and treasurer of that charity. Under the trust deed (dated 5th July 2013) the charitable objects are: "to promote for the benefit of the public the preservation, conservation, protection and improvement of the Bell Tower, Evesham, Worcestershire, including its fabric, furnishings, fittings and function" and "to advance the education of the public in the appreciation, history, function, conservation and preservation of the Bell Tower, Evesham."

28