2020-12-31-accounts

Financial Report of Annual Accounts for the year ended 31.12.2020

Andrew Alder reported that the annual accounts, as attached to this report have been prepared under a receipts and payments basis, balance, have been Independently Examined and presented to the PCC prior to this Annual General Meeting. They form the accounts for the year ended 31[st] December 2020. These accounts have again been independently examined by Mr Les Ingles, who examines the accounts of St Catherine’s Mile Cross. I wish to express mine and the PCC’s thanks to him for undertaking this task for us. A full audit was not required as the ‘gross income’ through the accounts has reduced below the threshold for this need (£500k under the Charity Commission guidance).

Well, what a year 2020 was and of course Covid 19 has had an effect both in terms of finance and of governance.

You will recall that last year we did not have an Annual Meeting, so the 2019 accounts were not officially adopted. So I would like to first of all to have the 2019 accounts formally adopted. Happily, these accounts had been examined and certified and the PCC had approved them all before Lockdown 1. The highlights are summarised by a net position of a decrease of income by £ 270 in general fund and a net increase in our expenditure of £230 in general fund. Parish share paid was £47,000 which was below the Diocesan ask of £52000. We also had a major problem with water supply pipes in St Mary’s churchyard. The cost of this was approx. £17,000 which fortunately was covered by Insurance (£15000) and the shortfall by The Friends of St Mary’s (£1619) so no net cost in the accounts.

Turning to the 2020 accounts – they balance which is always a good sign!

On the income side a very big ‘thank you’ to everyone, because as you can see the planned giving is practically unchanged. The main changes are a drop in cash collections and St Paul’s letting income. All due to the Covid closures.

To offset this, the major expenditure casualty has been the Parish Share (£39,000), some utilities have been lower, but we still have standing charges to pay and clearly, we haven’t been paying organists fees. (They had been asked if they required ‘retainer’ fees but generously declined).

Fees were also down year on year, but we have no control over the number of weddings and funerals booked.

Looking at the Trial balance (or Balance sheet) the net position on the General Fund is that we ‘overspent’ by about £420 so are nominally overdrawn. I also covered the grass cutting costs out of the churchyard fund which also put this account overdrawn by £8, however we were expecting a sum of £750 from the Parish Council by way of an annual grant and this has been received in mid-January and rectifies both these accounts.

The overall position therefore is that the General fund is now in debit £35 and our Designated and Restricted funds hold £11,850 & £38,441 respectively. Overall, the church holds £50,256 in all funds - £3,256 on Barclays current a/c £47,000 on CCLA deposit a/c.

The church also has 2 endowment funds administered by the Diocese as noted on the Trial Balance sheet totalling £33,858. £3000 was withdrawn from the churchyard endowment to pay for tree surgery work in the new burial ground.

Andrew Alder, Treasurer.

Trial Balance@31stDec2020	Trial Balance@31stDec2020
	Unrestricted6en		Designated	Restricted	Iotal
	f		f	f	i
0peningBal	384,09		12,942,00	38,000,00	51,116.09
lncome	62,05270			1,116 98	63,169,68
funtfrin	2,50000		1,728,34	3,000,00	7,228,34
lnterest apportioned			52,06	126,59	178.6s
Expenditure	63,243,59		1,17],4A	1,301,74	67,317,n
fundtfrout	1,728,34			2,500,00	4,218,34
Balance			11,850,00	j8,441,83	50,256 59
RepresentedBy
Current Account		3,964,77
lessdschqs		708,08
Deposit Account		47,000.00
	Iotals	50,25669
	:

THE CHURCH OF ENCLAND DioceseofNorwich	THE CHURCH OF ENCLAND DioceseofNorwich
lndependentExaminers Certificate
Reporttothetrustees/membersof: lcc-5/,il4L/,.t7
OnaccountsfortheYearended: 9(-- /t-
Charityno(ifanY):
Respective responsibilitiesof trustees andexaminer	Thecharity,strustees areresponsible for the.preparation ofthe accounts Thecharity's trustees considertnatanauoitisnotrequired for this year undersection144 of the Charities Act201 1("tfreCfrlriiies4cf)inAthatan independentexaminationis needed' nn".n"ritv,.grossincomeeiceededE250,000 andIam qualifiedtoundertake.the examinationby being.qrrtin"J*u.berof [namedbody]l'Deletellifnot applicable'
	Itis my responsibilitYto: . examinetheaccountsunder section145 of the CharitiesAct'
	.tofollowtheprocedureslaiddowninthegeneralDirectionsgivenbytheCharity Commission'(undersection 145(s)(b)of the CharitiesAct'and . to statewhetherparticular mattershavecometomyattention'
Basisofindependent examiner's statement	MyexaminationwascarriedoutinaccordancewithgeneralDirectionsgivenbythe c6"iitvco.rission.Anerin"tionincludes a review of the accounting records kept
	bythecharityandacomparisonoftheaccountspresentedWiththoserecords'ltalso includes considerationofJnyunusuat items or disclosures intheaccounts, and seeking exlianationsfromthetrustees conceminganysuch.mattersThe procedures undertakendo notprovideattlneevlOeniethat would be required in anaudit,and I"iJ"O"tf ,ofinioni;;i";;asrowhethertheaccounts presenta.'kueand fair' G;;;dtnereportislimiteitothosematters set out in the statement below.
lndePendent examiner'sstatement	lnconnectionwithmyexamination'nomatterhascometomyattention(otherthanthat disclosed belowt)
	l.whichgivesmereasonablecausetobelievethatin'anymaterialrespect'the
	requirements:
	.tokeepaccountingrecordsinaccordancewithSectionl30oftheCharitiesAct;
	and
	.toprepareaccountswhichaccordwiththeaccountingrecordsandcomplywith theaccountingrequirementsof the Charities Act
	have not beenmet; or
	2.to which,inmyopinion,attentionshould be drawninorder to enableaproper understandingofthe accountsto be reached'
	thewordsin thebrackets if they do not apply
Signed:	Date: 0
Name:
RelevantProfessional
qualification(s)or bodY
(ifanY):
Address:	:"-iifr
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