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2021-12-31-accounts

CHALFONT ST PETER PARISH CHURCHES

REGISTERED CHARITY NUMBER: 1146043

Trustees' Report and

Unaudited Financial Statements for the Year Ended 31 December 2021

CHALFONT ST PETER PARISH CHURCHES Church Office, Church Lane Chalfont St Peter Bucks, SL9 9RJ Tel: 01753 880 067 office@csp.church www.http://csp.church/

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THE CHURCH OF ENGLAND

The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Peter

Trustees Report and Financial Statements to APCM for the Year Ended 31 December 2021

1.0 OBJECTIVES AND ACTIVITIES .............................................................................................. 2
2.0 ACHIEVEMENT AND PERFORMANCE .................................................................................. 3
3.0 FINANCIAL REVIEW ........................................................................................................... 8
4.0 STRUCTURE, GOVERNANCE AND MANAGEMENT ............................................................. 10
5.0 ADMINISTRATIVE INFORMATION .................................................................................... 13
6.0 ACKNOWLEDGEMENTS AND APPROVAL .......................................................................... 14
7.0 INDEPENDENT EXAMINERS REPORT ................................................................................ 15
8.0 STATEMENT OF FINANCIAL ACTIVITIES ............................................................................ 16
9.0 STATEMENT OF FINANCIAL POSITION .............................................................................. 17
10.0 NOTES TO THE FINANCIAL STATEMENTS .......................................................................... 18
10.1 NOTE 1: ACCOUNTING POLICIES .............................................................................. 18
10.2 ANALYSIS OF INCOME .................................................................................................. 20
10.3 ANALYSIS OF COSTS .................................................................................................... 21

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Trustees Report

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

The Parochial Church Council of the Ecclesiastical Parish of Chalfont St Peter

Trustees' Report for the Year Ended 31 December 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

This report by your PCC for our Annual Parochial Council Meeting (APCM) is prepared as the formal Trustees Report required to be submitted to the Charity Commission for the year to 31 December 2021. It is presented for approval by the APCM.

1.0 OBJECTIVES AND ACTIVITIES

Chalfont St Peter Parochial Church Council (the PCC) has the responsibility of cooperating with the incumbent, the Reverend John Paul Goodman, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. This includes maintaining the Parish Churches of St. Peter, All Saints' Church in Oval Way, St Paul's Church at Horn Hill, the Church Halls at the Parish Church and All Saints', and The Parsonage.

The PCC is committed to our parish vision to be ‘A Christ-like Church’, to ‘Encounter God, Encourage Others and Engage Our World’ and ‘to see sustainable growth in God’s Kingdom; people regularly coming to faith in our community.’ A revised Mission Action Plan was adopted by PCC in March 2018 this will be reviewed and updated in the coming year.

When planning our activities for the year, we have considered the Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

2.0 ACHIEVEMENT AND PERFORMANCE

2.1 Overview

During 2021, across the world, almost everything and everyone continued to be significantly affected by the coronavirus pandemic with its terrible toll and associated hardships. Our thoughts and prayers remain with those affected by these events. Nevertheless, encouraging progress with recovery from the effects of the “lockdowns” and other restrictions was made in many areas as things edged back towards “normal”.

As in 2020, the uncertain situation was unsettling but, thanks to the efforts of the team, operations continued strongly and generally in good heart.

Overall, the year ended with a financial deficit before revaluation of properties or unrealised gain on investments of £18,961 (2020 = £62,145). The bulk of this improvement was secured by savings on staff; firstly, by the decision the previous year not to immediately recruit a replacement Children & Families Minister to replace Luke Maxted and so enable letting of the property 67 Fieldway, and secondly, the further departure mid-year of Ben Ewert, our popular Worship Minister. More detail of the financial performance, including investments is provided at Section 3.

The APCM was held in July in-person.

2.2 The Vicar

There were a number of disputes with in the parish in 2019 and the first half of 2020. The Ven. Norman Russell was commissioned by the PCC to explore the situation fully and produced a report in June 2020, describing some serious breakdown in relationships which are clearly a concern.

In July 2020, the Bishop received two separate complaints of misconduct against Revd. John Goodman made under the Clergy Disciplinary Measure. John withdrew from ministry at the Bishop’s request to allow time for a full and proper investigation and processing of the complaints.

The details of the complaints are confidential. However, both complaints were dismissed in October 2021 by the Deputy President of Tribunals, a senior judge who oversees the process. The Deputy President acknowledges in his judgement the distress caused by the situation and the acknowledged apparent breakdown in at least some relationships within the parish. He did however consider that neither complaint met the threshold required for a disciplinary tribunal and that John had acted reasonably and professionally on the matters he was asked to determine. Accordingly, this brings the legal process to a close and John remains in good standing within the Church of England.

Since the judge’s determination, the Bishop has had discussions with John and his discernment is that it is right to resume his ministry in Chalfont St Peter. John has been meeting regularly with Archdeacon Guy Elsmore to look at how best to facilitate his return. The Bishop has also met separately with the complainants.

* ( Footnote: The above sentence included following vote of the trustees on 11[th] May comprising 10 in favour, 1 abstention, and none against with 1 suggested amendment and 4 members not voting.)

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

2.3 Religious Activities - Provision of services

2.3.1 Policy: The PCC is committed to enabling and encouraging as many people as possible to worship in our three churches, their associated halls, in local schools and elsewhere in the community.

Revd John Goodman Vicar (see note 2.2 above) Revd Wendy Graham Non stipendiary PTO Revd Jim King Non stipendiary PTO Dr Ben Ewert Worship Minister (left at end of contract May 2021) Mrs Sandra Clark Mission Operations Manager

Miss Lydia Lee joined the team in July as Children and Families Minister and has already made an excellent contribution.

Rev Roland Slade was warmly welcomed as Locum Priest in September and his ministry has been much appreciated.

The PCC and congregations were again very grateful to Revd Jennifer Locke who kindly officiated at an increased number of services as an occasional member of the team and were also delighted to welcome Revd Adrian Manning into a similar role.

Our Administration Manager, Mrs Samantha Carter, again contributed to many aspects of our work and frequent comments expressing appreciation of her work were received.

2.3.3 Performance

Regular Services : Following a brief relaxation over Christmas, the third national lockdown commenced on 6[th] January. All in-person services were suspended and, once again, the 9.30 contemporary and 11.00 Holy communion services were recorded with contributions from clergy, intercessors, readers, family groups and even pets sent in for assembly by Ben and his team into recorded streams each week. Members were sad not to be able to meet for worship, but the spirit of camaraderie and affection were tangible and encouraging during difficult times.

During March, restrictions in public places were significantly eased. Our congregations in all Churches welcomed the return to in-person services (except 9.30, which followed a week later) with enthusiasm on 28th March, Palm Sunday. One anthem was sung and masks remained compulsory. Services in Easter Week were limited to the Wednesday and a service at All Saints on Good Friday. Despite the need to restrict numbers and other precautions, those on Easter Sunday almost had an air of normality and included the traditional Easter Egg hunt.

While services continued to edge slowly back to the world we used to know, the departure of Ben Ewert and his family at end of contract in May brought new challenges. Without Ben, it was not possible to continue the wonderful, complex, digital and musical backgrounds he, Krista and others had brought to on-line Family Worship and in-person numbers had not recovered from lockdown. Accordingly, Revd Jim and Sheila King undertook to relaunch the 9.30 back in the Parish Church Hall as a Covid precaution to avoid the need for cleaning between services. Thankfully, this initiative met with success and the burden was eased in August by the arrival of Lydia Lee as Children & Families Minister and, in September, of Revd Roland Slade as Locum Priest, both of whom have brought new life to this important service and numbers are gently rising. We are aware that many who were previously members of the 9:30 service have not returned, and we are keen to make contact and welcome members back.

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

With their departure, the ending of Ben and Krista’s special morning prayers on-line on Mondays thru’ Thursdays was another loss in the year. We were very grateful that Sandra Clark continued to provide an on-line presence on Friday mornings for the rest of the year, providing interesting and thoughtprovoking commentaries to a loyal audience.

After Easter, Michael Baxendine, Lay Chair, introduced a week of prayer, which he followed with a series of monthly Prayer services on the last Friday evening of the month. These provided a special opportunity for reflective, questioning prayer together with particular focus on our internal challenges.

In company with churches across the nation, memorial services were held in honour of His Royal Highness Prince Philip, The Duke of Edinburgh.

As the country approached Christmas, there was renewed concern regarding the “Third Wave”. Understandably families were not willing to risk their time together and the usual Christmas Eve Nativity Services were cancelled, and attendances generally were sadly reduced.

Reviewing "attendance” statistics over the year is challenging in any case and further complicated because we do not know accurately how many participants are online, or, indeed, where they might be. However, average figures for attendance in church for traditional worship services improved upon 2020, albeit with a general reduction of some 23% on pre-Covid levels. As noted above, attendances at the Contemporary Services were particularly affected by the pandemic and its consequential emphasis on on-line services together with the departure of Luke in 2020 and Ben in 2021 with their families. By the end of the year, numbers had stabilised at approximately 50% of pre-Covid levels.

Outreach: The weekly Newsletter begun during 2020 continued to flourish thanks largely to the enthusiasm of Sandra Clark. It has an on-line circulation of over 200 and hard copies are also delivered each week to those who are isolating or housebound or unable to view online. This provides the opportunity for "doorstep chats", sometimes leading to provision of shopping or other services for those in need, as well as some brief human contact. As people became more comfortable venturing out, this number reduced from 50+ to less than 25.

As in 2020, the Newsletter enabled promotion of the work by our partner Fairtrade organisation in supplying goods to the local foodbank. Parishioners have donated many thousands of pounds to this cause resulting in provision of goods to the foodbank’s requirements rather than the usual ad hoc donations in supermarket baskets. We were also able to reintroduce a small number of other Outreach initiatives including the monthly Fairtrade Coffee Mornings, which resumed in September and sponsored events for The Children’s Society and Tearfund.

Mary Webster and Sandra Clark produced three lovely editions of the Parish Magazine and one for January 2022 is in hand. A handsome leaflet detailing Christmas services and including a message of “Hope” from Revd Roland Slade was produced and circulated widely.

Meanwhile, Lydia Lee has developed a regular on-line communication with the contemporary and junior congregations. Her videos are a joy to watch at any age. Lydia has also built good connections with local schools and is re-developing regular engagement as Covid allows. This continues the long tradition of links between the church and schools and the hard work of Rev Jim King, Sheila King and other PCC members on governing bodies and in other ways has again be vital.

Pastoral Care : The need for pastoral care in support of those suffering with bereavement, depression and anxiety as well as ill health and financial challenges was greater than ever. Revd Wendy Graham and Revd Jim King devoted countless hours to this important ministry. Members of our church family, as part of the Pastoral Care Team coordinated by Cheryll Older, or as “good friends and neighbours” helped

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

with the response to those in need.

The Prayer Group continued their meetings via "Zoom" towards the end of the year.

Pastoral Offices:

Our clergy officiated at 23 funerals in the year (13 at crematoria and 10 in church). 2020 total was 25 and in the preceding 4 years, the average total had been 15.

Encouragingly, there were 14 baptisms (2020 = 0) and 3 weddings (2020 = 0).

2.4 The General Public/Mankind - makes grants to organisations

2.4.1 Policy: PCC previous policy – a loosely defined commitment that 10% of income (undefined) be set aside for grant-making – was suspended in 2020 with an intent to re-draft in 2021. This has not been completed but, as church attendance recovered, a pattern of “charities of the month” was chosen as the focus for retiring collections to run in parallel with other fundraising, particularly, the monthly Fairtrade Coffee morning, initially The Children’s Society and Tearfund.

Performance: As usual, bibles were provided for all school leavers from the Academy and support continued to the child we sponsor, as a church, through Compassion. (Some 33 individuals/families also sponsor children directly). Contributions and collections were also made to the Poppy Appeal.

To maintain cash flow in the face of nervousness about drawing down from investments, very few grants were made during the year – details are provided within the attached accounts.

The trustees of the associated Hibbert Fund, decided to amend the previous custom of making payments at Christmas to residents of certain sheltered accommodation in the village, as the nature of their occupancy had changed over the years and other more pressing cases of hardship existed. Accordingly, the trustees enabled some 50% of the annual distribution to be channelled in strictest confidence through the schools to cases of need.

2.5 Provides Buildings/ Facilities/Open Spaces

2.5.1 Policy: The PCC aims to maintain all buildings within its care to a high standard and meeting the needs of all users.

2.5.2 Performance

Open Doors: The policy of maintaining All Saints Church open for private prayer during daytime was resumed and the Parish Church was open on Monday, Wednesday, and Friday mornings. While remaining a challenge for available resources, the key aim of holding at least one service in each church every Sunday continued.

General: Maintenance and servicing of fire equipment, service and certification of gas and oil boilers and like items continued and is recorded centrally in the Parish Office and electronically. A limited programme of works was undertaken with a view to carrying out essential items only to minimise the financial deficit. A significant amount of generally preventative maintenance recommended in the Quinquennial inspections of 2019 remains to be balanced against available funds.

Parish Church: Further progress was made against the schedule produced after the quinquennial inspection at end of 2019, with attention to the external decoration, and further attempts to combat damp, particularly around the Credence Table area. The roofs of the bell chamber and the tower staircase were

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

recoated. Replacement of the gas valve to No 1 boiler solved a long-running issue. Three contractors viewed the gables flashings work and, while agreeing that it required attention, none returned proposals or estimates: none saw it as urgent. Other routine maintenance, occasional volunteer churchyard working parties and maintenance of the bells and associated fabric by our award-winning team continued.

All Saints Church : The immediate programme of brickwork repointing was completed with 50% of the cost being donated by The Friends of All Saints and the damaged East stained-glass window was repaired. The supplier of the proposed grille over the redundant staircase to the old boiler room failed to perform and this will require retender. The organ required sundry attention during the year and, again The Friends contributed to the cost. A number of other issues from the quinquennial inspection remain under review. Other routine maintenance and occasional volunteer churchyard tidying continued.

St Paul's Church: No major work was undertaken but estimates were sought for high level brick pointing and flashing to be undertaken in the new year as internal damp is now visible. A new signboard was installed and a second-hand electronic organ was donated.

Parish Hall: Minor works in the year included refurbishment of the fire escape door. As “lockdowns” receded, lettings of the Hall to a wide range of organisations and individuals resumed and provided an essential stream of income.

All Saints Hall: After an exhaustive tender exercise, the exterior elevations of the hall were completely redecorated. The roof was inspected but considered to be adequate for the time being. As with the Parish Hall, lettings recovered strongly.

The Parsonage : The Parsonage continued under let to the same third party tenant. There were no significant maintenance issues in the year.

The Vicarage : This is not a PCC owned property and there was no involvement by the PCC in the period.

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Trustees Report

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

3.0 FINANCIAL REVIEW

3.1 Financial position: The accompanying financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and "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)" (as amended for accounting periods commencing from 1 January 2019). The PCC is a Public Benefit Entity as defined by FRS 102.

Overview: Overall, the year ended with an increase in funds of £1,488, comprising:

Operating Loss
Unrealised Gains on Investments
Increase in Insurer’s Valuation of
Properties
Net increase in Funds		 2021
£		 2020
£		 2019
(18,961) (62,145) (33,369)
20,449 9,333 29,979
- 781,728 -
1,488 728,916 (3,390)

Detail of income and expenditure are provided at pages 15 thru’ 29 . Total income was £197,895 (2020 = £185,687 including £11,000 legacies). Voluntary donations through Members Giving including Gift Aid reduced further to £102,495 (2020 = £114,629) while collections for ordinary purposes recovered somewhat to £8,868 (2020 = £6,427) with the return to church. A total of £63,827 arose from lettings (i.e. Church Halls £25,340, the Parsonage £19,110 and £19,377 from Grants made by the Curates Endowment Fund from letting 67 Fieldway).

Investments. No investments were sold in the year. Investments performed satisfactorily against the general market and no significant change to the portfolio is planned.

Curate's Endowment Fund: While not part of the PCC Charity, it may be noted that the Curate's Endowment Fund (CEF) exists to support the mission of the PCC. Provisional Accounts for the CEF for the year indicate:

Operating Profit/Loss
Unrealised Gains on Investments
Increase in Insurer’s Valuation of
Properties
Grants to Chalfont St Peter PCC
Net increase in Funds
CEF Funds Carried Forward		 2021
£		 2020
£		 2019
23,975 2,341 4,266
42,910 18,647 44,086
- 200,000 -
(19,377) - (10,000)
47,508 224,540 38,352
956,391 908,883 687,895

3.2 Budget Forecasting: At the beginning of the year, the PCC had little idea as to how the year might develop but were confident that a good team was in place and reasonable arrangements were in place for sustaining core ministry but also to begin to take advantage of improving conditions when they arose. In the event, an overall financial performance whereby an anticipated operating loss was restrained and just more than balanced by gains on investments is a satisfactory result.

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

Uncertainty remains on entering 2022, not least regarding possible changes to the clergy team, which coped so well during the past two years. A further significant reduction in voluntary donations cannot be ruled out. Moreover, a similar benign outlook for investments cannot be assumed. An outline forecast has been drawn with an operating deficit of approximately £17,500, which would need to be replaced by sale of investments. Unrealised gain on investments may largely offset this once again but inflationary pressures will contribute to the likely general continuing reduction in asset value.

Meanwhile, significant reserves exist as above, and plans are in place to maintain positive cash flow.

3.3 Staff Salaries and Pensions: Operation of the pensions scheme introduced in 2015 has continued smoothly. Modest salary increase were made in the year.

3.4 Reserves Policy: The PCC budgets over the long term to use its income in the pursuit of its charitable activities.

Funds within current and deposit accounts were previously managed to ensure that any reasonably foreseeable reductions in income and items of exceptional expenditure in a three-year horizon could be accommodated. As noted in the report at end 2019, current performance would not sustain that position and drawdown of some accumulated, unrealised gains on investments began in 2020, was avoided in 2021, but is likely to be required in 2022.

PCC continues to consider the appropriate level of reserves, seeking to balance the long-term ability to sustain ministry in the Parish with the short-term operational requirements.

3.5 Risk Policy: Through the Finance Sub-Committee, the PCC assesses risks to its affairs.

The Ecclesiastical Insurance Group provides comprehensive insurances and insurance surveys were carried out in 2019. Fabric is regularly assessed, routine certification maintained, and Quinquennial inspections were held in 2019. Safeguarding matters and governance are given a high priority. The primary operational risk is that of being unable to provide the services and pastoral care to which we are committed because of lack of personnel. The PCC, advised by the Staff Team, continually reviews the situation, which is considered sustainable thanks to the huge contribution of all our non-stipendiary team.

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

4.0 STRUCTURE, GOVERNANCE AND MANAGEMENT

4.1 Organisational Structure: The PCC has the following sub-committees only: Standing Committee, Finance Sub-Committee, Fabric Sub-Committee (reports into Finance Sub-Committee) and a non-executive Data Governance Group.

A "Team Meeting" comprising clergy, ministers, outreach and administration manager is held weekly to manage operations. Churchwardens and the Lay Chairman respectively normally attend weekly or monthly.

4.2 Membership: Everyone is welcome to attend our regular services. Registering on the church electoral roll confers the rights set out by the Church of England including attendance and participation at the APCM. As required by Church of England, a new Electoral Roll was made in 2019 and listed 156 members: at APCM 2020 the figure was 161.

4.3 PCC: The method of appointment of PCC members is set out in the Church Representation Rules.

A schedule of members of the PCC during the year is enclosed at Administrative Information Section 1. All those who attend our services are encouraged to register on the electoral roll and stand for election to the PCC.

Each year, the first meeting of the PCC includes a period of instruction on the role and responsibilities of PCC members as trustees of the charity. This provides induction for new members and refresher training for continuing members. Additionally, copious information is available on the Diocesan website which members are encouraged to access and the Diocese also holds training days.

The full PCC met in person 6 times in the year.

4.4 Deanery Synod : In addition to the clergy, we are entitled to three seats on Deanery Synod who are also ex-officio members of PCC. This provides the PCC with an important link between the parish and the wider structures of the church. The Synod is a place to discuss problems and new initiatives within the Deanery and to get support. One of our representatives stood down during the year for health reasons.

During the year, Revd Peggy Ludlow was welcomed as Area Dean following Revd Tim Harper’s retirement. Meetings discussed financial problems. At the last meeting there was an excellent report from Steve Poulson and his wife who are missionaries in British Honduras. It is a hard challenge for them with poor social conditions corrupt government and extremes of weather. We are pleased to be able to support them.

4.5 Safeguarding:

Formal Obligation

The PCC has complied with the duty under section 5 of the Safeguarding and clergy discipline measure 2016 (duty to have due regard to House of Bishops guidance on safeguarding children and vulnerable adults) by:

Appointing the following Safeguarding Roles:

Clair McCoy (Churchwarden) is acting Parish Safeguarding Officer as the recruitment of PSO is still outstanding. Working closely with the Diocesan Safeguarding Team, the churchwardens together with our Parish Administrator (DBS Administrator) continued working towards ensuring all safer recruitment

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

processes and records were in place and that everyone was aware of our policies and training requirements.

New PCC members undertook basic training and appropriate checks: no new volunteers were recruited in the period.

Through its continued adoption of the Churches National Safeguarding Policy, Guidance and Information Safeguarding Policy Annual Review took place at PCC meeting of 15th November 2021 – current policy was approved with no amendments.

Recruitment of Ex-offenders Policy was submitted for PCC approval – approved 15th November 2021.

PCC confirmed that the list of Church Activities was complete – “Stay On” Youth Group, Tea & Hymns, Pastoral Care Team. A query was raised about the need to add “9:30 Family Time” service to the list. After investigation, this was added, and PCC confirmed at the next PCC meeting.

Safer Recruitment and People Management

The parish registered with Parish Safeguarding Dashboards in October 2021. Parish Dashboards is an online system that helps parishes to ensure that they are complying with statutory requirements and Church of England policies, or else it explains what actions need to be taken. Its primary aim is to make life simpler for Parish Safeguarding Officers. It shows an overview of the parish at a glance and produces a downloadable Safeguarding Action Plan Report which is presented at PCC meetings for discussion, amendment and approval. We recognise that we have some work to do on our safeguarding processes around ensuring all recruited volunteers have the correct paperwork.

Handling of Concerns Raised

There were no safeguarding incidents reported in this period.

The PCC responded to queries from the Charities Commission regarding an historical matter. Some advice was received.

4.6 GDPR: There were no compliance issues and registration with the Information Commissioner's Office was renewed.

The PCC discussed GDPR in the context of streaming services and adopted a policy in line with Diocesan and other guidance. Notices are displayed in church.

4.7 Information Technology: There were no significant changes to either software or hardware in the period.

To improve governance and security of IT operations, PCC engaged with Beyond Networks to have overall management rights of all systems and to provide a support function. This facility has been beneficial, but PCC will review the need to continue it into the future as it has a cost of some £3,744 per annum.

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

4.8 Treasurership: The PCC continues to seek an appropriate Treasurer but meanwhile Mr Bob Older (Churchwarden) as bookkeeper and Mrs Clair McCoy (Churchwarden) as Stewardship Administrator continue routine administration. The Finance Sub-Committee met formally on 6 occasions.

4.9 Independent Examination: Mr David Green is appointed as Independent Examiner - (see 5.4 below).

4.10 Verger: PCC is grateful to Mr Grenvllle Dixie for all his work as Verger.

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Trustees Report

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

5.0 ADMINISTRATIVE INFORMATION

5.1 PCC members who served at any time from 1 January 2021 to 31st December 2021

Incumbent: Revd John Goodman (See section 4.0 above) Clergy: Revd Wendy Graham (Co-option reaffirmed by PCC) Revd James King (Co-option reaffirmed by PCC) Licensed Lay Ministers: Dr Ben Ewert (Ex officio as licensed lay minister to May 2021) Miss Lydia Lee (Ex officio as licensed lay minister from August 2021) Churchwardens: Mr Bob Older (Ex-officio, re-elected at APCM) Mrs Clair McCoy (Ex-officio, re-elected at APCM) Elected members of Deanery Synod : Elected 2020 Mrs Jan Bartlett (resigned November 2021) Mrs K. Mary Webster (3-year appointment) Co-opted 2021 Mrs Ann Geary (3-year appointment from September 2021) Vacancy Elected Lay Members of PCC Elected 2018 Dr Michael Baxendine (3-years, re-elected 2021– Lay Chairman) Mrs Sandra Clark (to July 2021) Mr John Harwood (3-years, re-elected 2021) Mr Richard Simon (3-years, re-elected 2021) Elected 2019 Mr Timothy Mears (3-year appointment) Elected 2020 Mr Grenville Dixie (3-year appointment) Mrs Meriel Garnham (2-year appointment) Mr Ian Hackett (3-year appointment) Mrs Jessica Redman (2-year appointment) Mrs Sheila Johnson (3-year appointment) Mrs Ann Middleton (3-year appointment)

Co-opted 2021 Mrs Johanna Dickinson (1-year appointment from July 2021)

5.2 Church Sub-Committees

Vicar and Churchwardens are ex officio all committees plus

Standing Committee

Lay Chairman (Dr Michael Baxendine) Treasurer (Vacancy) Secretary (Mr John Harwood) Appointees (Revd Wendy Graham) (Mr Ben Ewert – till May 2021)

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Trustees Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31st December 2021

Finance Committee

Lay Chairman (Dr Michael Baxendine from 24/11/2020) Treasure Treasurer (Vacancy) Secretary (Mr John Harwood) Fees Treasurer (Mr John Harwood) Appointees Mr Simon James Mr lan Hackett Mrs Jan Bartlett (till Nov) Mrs Jessica Redman

Data Governance Group (DGG)

Mr Richard Simon Mr Tim Mears Mr Ben Ewert (to May) Mr Ian Hackett (from July)

5.3 Correspondence address : Church Office, Church Lane, Chalfont St Peter, Bucks SL9 9RJ Telephone: 01753 880067

The registered charity number is 1146043

St. Peter's Church is situated in High Street, Chalfont St Peter, Bucks SL9 9RA

All Saints' Church is situated in Oval Way, Chalfont St Peter, Bucks SL9 SPZ

St Paul's Church, Horn Hill, is situated in Rickmansworth Lane, Horn Hill, Chalfont St Peter, Bucks SL9 ORG

5.4 Relevant Organisations:

Bank: Barclays Bank Limited Market Place Chalfont St Peter, SL9

Insurers: Ecclesiastical Insurance Beaufort House, Brunswick Road, Gloucester, GLI 1JZ

Independent Examiner: David Green MA (Cantab) ACA , Azets, Suites B&D, Burnham Yard, Beaconsfield, Bucks, HP9 2JH

6.0 ACKNOWLEDGEMENTS AND APPROVAL

The PCC take this opportunity to record sincere thanks to all the clergy and staff team members who have all regularly gone far beyond the call of duty; to the sacristans, verger, office volunteers, flower ladies, cleaners, musicians, choristers, bell-ringers and all others who worked so hard for our churches in these challenging months, making them the lively and vibrant centres they continued to be and enabled so much to be achieved.

Approved by order of the board of trustees on 12[th] May 2022

and signed on its behalf by John Harwood

John Arthur Harwood (Secretary and Trustee)

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Independent Examiners Report for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

7.0 INDEPENDENT EXAMINERS REPORT

Independent examiner’s report to the trustees of the Parochial Church Council Of the Ecclesiastical Parish Of Chalfont St Peter

I report to the charity trustees on my examination of the accounts of the Parochial Church Council Of the Ecclesiastical Parish Of Chalfont St Peter (the Church) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity’s trustees 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 Trust’s accounts as 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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

David Green MA (Cantab) ACA Azets Suites B & D Burnham Yard Beaconsfield Buckinghamshire HP9 2JH

Date: 12/5/2022

15

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

Financial Statements

8.0 STATEMENT OF FINANCIAL ACTIVITIES

Notes
INCOME & ENDOWMENTS
Donations and legacies
2
Grants received
2,3
Lettings & other trading
activities
4
Fees from Occasional Offices6
Private use of Church
6
Investment income
5		 2021
Unrestricted
funds
£
Restricted
funds
£
Endowment
funds
£
Total
funds
£
113,512
1,425
-
114,937
19,430
-
-
19,430
45,917
623
-
46,540
10,787
-
-
10,787
3,011
-
-
3,011
3,190
-
-
3,190		 2020
Total
funds
£
132,850
-
40,823
6,831
660
4,523
TOTAL 195,847
2,048
-
197,895		 185,687
EXPENDITURE
Raising funds
7
Charitable activities
Grant funding of activities
8, 11
Activities undertaken directly
8, 9
Independent examiners' fee
8,10		 629
-
-
629
1,453
2,148
-
3,601
210,818
(100)
-
210,718
1,908
-
-
1,908		 913
2,314
240,993
3,612
TOTAL 214,808
2,048
-
216,856		 247,832
Unrealised gains on
investments		 19,397
-
1,052
20,449		 9,333
NET INCOME/EXPENDITURE 436
-
1,052
1,488		 (52,812)
Other recognised
gains/(losses)Gains on
revaluation of fixed assets
Fund Transfers
17		 -
-
-
-		 781,728
(181,903)
-
181,903
-
Net movement in funds
Total funds brought forward		 (181,467)
-
182,955
1,488
1,614,388
1,000
253,069
1,868,457		 728,916
1,139,541
TOTAL FUNDS
CARRIED FORWARD		 1,432,921
1,000
436,024
1,869,945		 1,868,457

CONTINUING OPERATIONS

All income and expenditure arose from continuing activities.

The notes form part of these financial statements

16

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

9.0 STATEMENT OF FINANCIAL POSITION

Statement of Financial Position as at 31 December 2021

FIXED ASSETS
Notes
Tangible assets
12
Investments
13		 2021
£
1,692,379
155,996		 2020
£
1,692,591
135,546
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
15
CREDITORS
Amounts falling due within one year
16		 1,848,375
15,176
14,248		 1,828,137
10,366
36,013
29,424
(7,854)		 46,377
(6,058)
NET CURRENT ASSETS
17
TOTAL ASSETS LESS CURRENT
LIABILITIES		 21,570
1,869,945		 40,320
1,868,457
NET ASSETS 1,869,945 1,868,457
FUNDS
17
Unrestricted funds:
17
Restricted funds
17,21
Endowment funds:
17,21		 1,432,921
1,000
436,024		 1,614,388
1,000
253,069
TOTAL FUNDS 1,869,945 1,868,457

The financial statements were approved by the Board of Trustees and authorised for issue on

24[th] April 2022

and were signed on its behalf by: R G Older

Robert Grenville Older (Trustee)

The notes form part of these financial statements

17

Financial Statements

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

10.0 NOTES TO THE FINANCIAL STATEMENTS

10.1 NOTE 1: ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the PCC's constitution, the Charities Act 2011 and “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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The PCC is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the PCC. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

INCOME

Income is recognised when the PCC is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the PCC has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the PCC has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

EXPENDITURE

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

The Diocesan Parish Share is accounted for when due and with any amount unpaid at 31 December provided for as an operational (though not a legal) liability.

GOING CONCERN

At the time of approving the financial statements, the trustees have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

TANGIBLE FIXED ASSETS

Tangible fixed assets (excluding property) are initially measured at cost and subsequently depreciated. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

Consecrated and beneficed property of any kind is excluded from the financial statements by s.96(2)(a) of the Charities Act 2011.

Page 18

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

Moveable church furnishing 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. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 2000 have been capitalised and depreciated in the financial statements over their currently anticipated useful economic life (initially 20 years) on a straight-line basis.

All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings acquired before 2000, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Equipment used within the church premises is depreciated on a straight-line basis over 4-20 years. Individual items of equipment are reviewed individually to determine if they should be capitalised or expensed to the profit and loss account.

Buildings are held at revalued amount. All three buildings were re-valued to the insurance valuations as of 31 December 2019 (see note 12). The trustees see this as a reasonable proxy to their replacement cost and no depreciation is charged on these assets.

TAXATION

The charity is exempt from tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Details are shown on the Balance Sheet and in note 21.

Endowment funds can only be used for the purposes stipulated within the objects of the endowment. Details are shown on the Balance Sheet and in note 21.

Page 19

Financial Statements

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

10.2 ANALYSIS OF INCOME

NOTE 2: INCOME FROM DONATIONS AND LEGACIES

2021 2020
Unrestricted Restricted Endowment Total Total
funds funds funds funds funds
£ £ £ £ £
Legacies - - - - 11,000
Grants 19,430 - - 19,430 -
Planned giving 83,725 - - 83,725 95,525
Gift Aid recoverable 18,770 - - 18,770 18,744
Collections 7, 139 1,425 - 8,564 6,427
Tax Credits 1,730 - - 1,730 -
Other Donations 2,148 - - 2,148 1,154
132,942 1,425 - 134,367 132,850

NOTE 3: GRANTS RECEIVED , INCLUDED IN THE ABOVE, ARE AS FOLLOWS

2021 2020
£ £
Grants from Chalfont St Peter Curate’s Endowment Fund arising from letting
of 67 Fieldway		 19,377 -
Grant from Revd George Gleed Fund for eleemosynary purposes 53 -
19,430 -

NOTE 4: INCOME FROM OTHER TRADING ACTIVITIES

Unrestricted Restricted Endowment 2021 2020
funds funds funds Total Total
funds Funds
£ £ £ £ £
Fundraising events 624 623 - 1,247 1,256
Church hall lettings 25,340 - - 25,340 18,784
Parsonage lettings 19,110 - - 19,110 20,783
Others 843 - - 843 -
45,917 623 - 46,540 40,823

NOTE 5: INCOME FROM INVESTMENTS

Unrestricted Restricted Endowment 2021 2020
funds funds funds Total Total
funds Funds
£ £ £ £ £
Interest & dividends received 3,190 - - 3,190 4,523

Page 20

Financial Statements

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NOTE 6: INCOME FROM CHARITABLE ACTIVITIES

2021 2020
Activity Total Total
funds Funds
£ £
Fees from Occasional Offices Total receipts before disbursements 10,787 6,831
Private use of church Primarily use of All Saints Church by Latimer 3,011 660
Minstercongregations
13,798 7,491

10.3 ANALYSIS OF COSTS

NOTE 7: COSTS OF RAISING FUNDS

Unrestricted Restricted Endowment 2021 2020
funds funds funds Total Total
funds Funds
£ £ £ £ £
Cost of generating funds 629 - - 629 913

NOTE 8: COSTS OF CHARITABLE ACTIVITIES

Direct
Costs		 Support
Costs		 Totals
£ £ £
Grant funding of activities See Note 11 3,601 3,601
Activities undertaken directly See Note 9 210,718 210,718
Independent examiners' fee See Note 10 1,908 1,908
214,319 1,908 216,227

Grant funding of activity comprised £1,213 for church overseas (£545 in 2020), £916 for home mission and other church (£1,469 in 2020) and £1,472 for Secular Charities (£300 in 2020).

Page 21

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NOTE 9: DIRECT COSTS OF CHARITABLE ACTIVITIES

2021 2020
£ £
Parish share 85,453 86,388
Children & families minister payroll including on-cost (part years) 7,262 19,131
Pioneer Worship minister payroll including on-cost (part years) 9,325 23,986
Children & families minister accommodation (part years) 4,356 -
Pioneer Worship Minister accommodation (part years) 9,794 25,879
Office payroll (i.e. Administration Manager & Outreach Manager) incl. on-
cost		 24,655 18,530
Churches running cost 17,057 18,087
Management & Administration excluding office payroll 14,036 10,842
Church Halls Running cost 9,361 8,298
Disbursement of Occasional Office fees 6,995 4,603
Churches maintenance 5,609 6,903
Church hall maintenance 4,744 2,430
Upkeep of Services 4,251 3,840
Churchyards maintenance 1,969 5,305
Clergy & Ministers’ expenses 1,444 4,871
Parsonage running cost 782 1,689
Parish Magazine expenditure 523 -
Training Costs, Mission & Education 225 211
Depreciation on All Saints Piano 212 -
Uncategorised Expenditure - Ewerts leaving gift (£1,477) & disputed bill
£121		 1,598 -
Written Off – Historic Gift Aid Claim from 2019 not allowed 1,068 -
210,718 240,993
NOTE 10:
SUPPORT COSTS
2021 2020
£ £
Independent examiners' fee – reduction on previous year accrual (192) -
Accrual for examination of 2021 accounts 2,100 3,612
Net Support Costs 1,908 3,612

TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES

Please refer to related party note – Note 19

Page 22

Financial Statements

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NOTE 11:

GRANT MAKING

Grants were made to charities from Church Charity Funds, Restricted collections and from some donations.

Grants were made to the following bodies. Unrestricted Grants were made to the following bodies. Unrestricted Restricted Total 2021 Total 2020
Chalfont St Peter Academy 1125 - 1,124 1,489
Compassion UK 361 - 361 377
NSPCC 457 - 457
Tear Fund - 645 645 -
The Children’s Society - 356 356 -
The Poppy Appeal 315 252 567 300
Traidcraft - 90 90 66
Workaid - 102
Correction of previous allocations (805) 805 (20)
Total 1,453 2,148 3,601 2,314

The above are all grants to institutions.

Page 23

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

10.4 ANALYSIS OF ASSETS AND FUNDS

NOTE 12: TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 January 2021
Revaluations
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Buildings
Plant and
machinery
Totals
£
£
£
1,691,739
8,361
1,700,100
-
-
-
1,691,739
8,361
1,700,100
-
7,509
7509
-
212
211
-
7,721
7,721
1,691,739
640
1,692,379
1,691,739
852
1,692,591

Revaluations of the Land & Building amounting to £781,739 were made for insurance purposes in 2019 and credited to the accounts in 2020. The revaluations were undertaken on behalf of Ecclesiastical Insurance by their surveyor Mr Mike Deane BA(Hons), Dip CII, Tech IOSH.

Although consecrated properties are, by law, excluded from the accounts (see note 1), the insurance valuations (2019) of the three churches in the parish and their listed status are included here for reference -

Insurance Valuations (2019)
Parish Church Grade II* Listed £3,375,000
All Saints Church Grade II Listed £2,700,000
St Paul's Church unlisted £343,927

The freehold and buildings comprise the Parsonage at Oval Way, Chalfont St Peter and two church halls. All three properties were last revalued at their insurance valuations as of 31 December 2019.

Oval Way Parsonage £427,659
Parish Church Hall £831,331
All Saints Church Hall £432,749
£1,691,739

Page 24

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NOTE 13: FIXED ASSET INVESTMENTS

Other Investments
There were no investment assets outside the UK.
Investments (neither listed nor unlisted) were as follows:
CBF Investment Income Fund
CBF Investment Accumulation Fund
M&G Charifund		 2021
£
2020
£
155,996
135,547
107,937
£94,368
38,730
32,950
9,329
8,229
155,996
135,547

Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

N0TE 14: DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021 2020
£ £
Trade debtors 11,089 7,152
Tax 3,645 2,578
Prepayments 442 635
15,176 10,366

Note 15: CASH AT BANK AND IN HAND

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2021 2020
£ £
Current Accounts at bank 8,770 33,063
Deposit Accounts at bank 5,475 2,941
Petty Cash Imprest 3 9
14,248 36,013

Page 25

Financial Statements

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NOTE 16: CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021 2020
£ £
Trade creditors 4,459 2,458
Other creditors 3,395 3,600
7,854 6,058

LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021 2020
£ £
Within one year 2,107 2,107
Between one and five years 1,054 3,687
3,161 5,794

NOTE 17: ANALYSIS OF NET ASSETS BETWEEN FUNDS

2021 2020
Unrestricted Restricted Endowment Total Total
funds funds funds funds funds
£ £ £ £ £
Fixed assets 1,264,720 - 427,659 1,692,379 1,692,591
Investments 147,631 - 8,365 155,996 135,547
Current assets 26,723 2,701 - 29,424 46,377
Current liabilities (6,153) (1,701) - (7,854) (6,058)
1,432,921 1,000 436,024 1,869,945 1,868,457

MOVEMENT IN FUNDS

Funds as at
01/01/2021		 Movement in funds Funds as at
31/12/2021
£ £ £
Unrestricted funds 1,614,388 (181,467) 1,432,921
Restricted funds 1,000 - 1,000
Endowment funds 253,069 182,955 436,024
TOTAL FUNDS 1,868,457 1,488 1,869,945

NB Movement in Endowment Funds includes £182,659 revaluation of The Parsonage previously credited to Unrestricted Funds

Page 26

Financial Statements

for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NET movement in funds, included in the above are as follows:

Incoming Resources Gains and Fund Movement
resources expended losses Transfers in funds
£ £ £ £
Unrestricted funds 195,847 (214,808)
19,397		 (181,903) (181,467)
Restricted Funds 2,048 (2,048) - - -
Endowment Funds _ - 1,052 181,903 182,955
TOTAL FUNDS 197,895 (216,856)
20,449		 - 1,488
COMPARATIVES FOR MOVEMENT OF FUNDS IN PREVIOUS YEAR
NET ASSETS BETWEEN FUNDS AT 31/12/2020
2020 2019
Unrestricted Restricted
Endowment		 Total Total
funds funds funds funds funds
£ £ £ £ £
Fixed assets 1,446,835 - 245,756 1,692,591 911,063
Investments 128,234 - 7,313 135,547 186,214
Current assets 45,377 1,000 - 46,377 51,727
Current liabilities (6,058) - - (6,058) (9,463)
1,614,388 1,000 253,069 1,868,457 1,139,541

MOVEMENT IN FUNDS 01/01/2020 TO 31/12/2020

Funds as at Movement in Funds as at
01/01/2020 funds 31/12/2020
£ £ £
Unrestricted funds 886,573 727,815 1,614,388
Restricted funds - 1,000 1,000
Endowment funds 252,968 101 253,069
TOTAL FUNDS 1,139,541 728,916 1,868.457

NET movements in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds 184,418 (247,664) 791,061 727,815
Restricted Funds 1,168 (168) - 1,000
Endowment Funds 101 - 101
TOTAL FUNDS 185,687 (247,832) 791,061 728,916

Page 27

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NOTE 18: EMPLOYEE BENEFIT OBLIGATIONS

The PCC operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the PCC. The contributions payable by the PCC are charged to the Statement of Financial Activities as they are incurred.

NOTE 19: RELATED PARTY DISCLOSURES

Donations received in the year from the PCC members via the bank totalled £29,055 (2020: £23,782). Cash donations made through the offerings are anonymous so cannot be analysed as to whether they have been donated by a Trustee. All donations received were without conditions.

Expenses reimbursed via the charity’s expenses system in the year totalled £1,444 (20120 £4,871). This was for the clergy team, lay ministers and members of the staff team and relates to various costs such as mileage, accommodation, telephone, Internet and postage. Accommodation costs of £14,149 (2020: £25,879) were paid in the year on behalf of two Trustees employed.

Specific small items purchased by individuals for the PCC and charges were also reimbursed through payment requisitions. These items include miscellaneous consumables and sundry maintenance items.

NOTE 20: THE CORONAVIRUS (COVID-19)

The Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result, some business operations have been restricted, however the charity continues to operate using alternative methods and remote working. The trustees are unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The trustees are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success.

NOTE 21: FUND DETAILS

Endowment Funds

The Parsonage Building. This building is on church land and was built using funds given to the PCC as an Endowment for the purpose of providing accommodation for the benefit of the PCC. The Endowment value represents the last formal insurance valuation advised in December 2019. The gain was transferred from unrestricted funds in the current period.

The Aldworth-Wood Fund. This fund represents the cumulation of various endowments and was last formalised by the Charity Commission Letter of Concurrence dated 01.09.2006. The funds are held in the Aldworth-Wood Trust and are held as investment in CCLA CBF Investment Fund and are available for the upkeep of St Paul’s Church and Churchyard.

Brought Incoming Resources Gains Transfers Movement Balance
Forward Resources Expended /losses £ in funds £
£ £ £ £ £
Parsonage Building 245,756 - - - 181,903 181,903 427,659
Aldworth-Wood 7,313 - - 1052 1,052 8,365

Restricted Funds

The only active restricted fund results from the legacy of Mrs Connie Hardy and is for the fund-raising expenses of the church Children’s Society Committee.

Page 28

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

NOTE 22 CONNECTED CHARITIES

Chalfont St Peter Curate’s Fund (Charity Registration No: 1093547) is a connected charity. Management trustees are the PCC. A more detailed summary of the unaudited accounts for this charity is provided at page 8. Grants received are shown at Note 3 above.

The Ecclesiastical Charities of Chalfont St Peter are also connected charities, whose management trustees are the Incumbent and Churchwardens. The Ecclesiastical Charities comprise

CHARITY Reg No Balance brought
forward
£		 Income
£		 Expenditure
£		 Balance carried
forward
£
Curate’s
Endowment Fund		 1093547 908,883 69,318 21,810 956,391
Hibbert Charity 0231020 110,045 18,313 2,570 125,788
Charity of William
Courtney		 0238282 352. 41 - 393
Charity of Isabella
Evans		 0238283 124 21 - 145
Revd. George Gleed
Charity		 0238281 1,152 196 43 1,305
Tony Graham
Memorial Fund		 1043028 20,809 3,458 350 23,917

Income includes unrealised gains on investments.

Grants were made from the Curate’s Endowment Fund and the Revd. George Gleed Fund to the PCC – see Note 3

NOTE 23 PENSIONS

The Chalfont St Peter Parish Churches participates in the Pension Builder Scheme section of CWPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers.

The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014.The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.

Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. . Bonuses may also be declared, depending upon the investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience

Page 29

Financial Statements for the PCC of the Ecclesiastical Parish of Chalfont St Peter for the year ended 31[st] December 2021

and other factors. There is no requirement for the Board grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is a multi-employer scheme as described in Section 28 of FRS 102 as it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers. This means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable by the employer of £2,210 (2020: £3,203.

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31 December 2019.

The Pension Builder Classic section has an on-going recovery plan to address the deficit of £14.2m from the 2016 valuation. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, which is the relevant section for our employees, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The legal structure of the scheme is such that if another employer fails, Employer could become responsible for paying a share of that employer’s pension liabilities

NOTE 24 STAFF COSTS

2021 2020
£ £
Wages & Salaries 40,273 £58,243
Social security cost (after Employer Allowance) 0 0
Other pension cost paid by Employer 2,210 3,203
£42,983 61,446

No employees received remuneration of more than £60,000 (2020: none) . The average number of monthly employees was 3 (2020: 4).

Page 30