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2021-12-31-accounts

Regl$tered Charlty Number: 1146048 The Parochlal Church Councll of the Eecleslastlcal Parl$h of St Michael and All Angels, Church, Macclesfield Flnan¢lal Ststements Year Ended 31 De¢ember 2021

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Financial Statements Year Ended 31 December 2021

Contents

Page No.
Charity Reference and Administrative Details 2
Trustees' Annual Report 3 - 6
Independent Examiner's Report 7
Statement of Financial Activities (Including Income and Expenditure Account) 8
Balance Sheet 9
Statement of Cash Flows 10
Notes to the Financial Statements 11 - 19

Page 1

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Charity Reference and Administrative Details Year Ended 31 December 2021

Charity registration number: 1146048 Trustees: Martin Bancroft Gordon Darlington Deanery Synod Vicky Darlington Deanery Synod Hilary Halliwell Deanery Synod Rachel Mayers Church Warden (ex officio) Carol Riesen Paul Simms Church Warden (ex officio) Enid Skirvin Anthony Skirvin Lynne Spedding Reader (ex officio), Lay Chair Paul Spedding Secretary Martin Stephens Rector (ex officio) Michael Strutt Reader (ex officio), Treasurer Heike Werner Christine Wightman Jennifer Wild

Member of the Church Council but not a Trustee because of age restriction: Izzy Reid Conor Shaw Parish Office: St Michael and All Angels' Church Market Place Macclesfield Cheshire SK10 1DY Independent Examiner: Heywood Shepherd 1 Park Street Macclesfield Cheshire SK11 6SR Bankers: Royal Bank of Scotland 56 Chestergate Macclesfield Cheshire SK11 6BA

Page 2

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Trustees' Annual Report Year Ended 31 December 2021

Introduction

The Parochial Church Council (PCC) of the Parish of St Michael and All Angels' Macclesfield presents its Annual Report and Accounts for the year ended 31 December 2021. The members of the PCC are the trustees of the charity.

The 1st January 2010 saw the start of the newly re-organised Macclesfield Team Ministry. This being the new structure for the Macclesfield Team Parish, which was dissolved on the 31st December 2009. The four individual churches, which make up the Team Ministry, St Michael and All Angels', St Peter's, All Saints' and St Barnabas', are constituted as a Team Ministry under the Church Representation Rules of the Church of England.

This structure gives us the best aspects of being a Team, with real power at the local congregational level. Each church has its own Parochial Church Council (PCC), holds its own AGM and produces local accounts with full authority over its own affairs. A Team Council has been formed, as is required by the legislation. This council does not have its own legal power, but only that which is delegated to it by the four local churches. The Parish Share for the Team Ministry is paid to the diocese via the Team Council. It has been agreed that St Michael and All Angels' PCC will assume the responsibility of accounting for all shared Team activities.

We received confirmation, on 22nd February 2012, that the Parish has been registered as a Charity with the Charity Commission. Prior to this time we have been classified as a Charity which was exempted from registration as it was part of the Church of England.

This set of accounts records the activities of St Michael and All Angels' together with those of the central shared Team activities.

Objective and Activities

The objective of the PCC is to promote the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. Our mission statement is:

"To worship God, share the gospel of Jesus Christ, welcome all who come and contribute to the flourishing of the Macclesfield community.

The main activities of the PCC are to enable the provision of regular public worship; the provision of pastoral work; the teaching and promotion of the Christian faith; the support of other charities whose objectives reflect Christian ethics. In these activities we endeavour to support the mission of the Church, pastoral, evangelistic, social and ecumenical, and we offer a welcome to all.

The work is centred at St Michael and All Angels' in Macclesfield, a Grade II* listed building. Whilst it is ever more difficult to maintain the fabric, the PCC does all that it can so that current, and future, generations can share the mission of those who have gone before.

The trustees have considered the guidance of the Charity Commission on public benefit and believe that the aims, objectives and services provided by the charity comply with that guidance.

Achievements and Performance

Worship, witness and prayer

This section details what we were planning to do during 2021. The pandemic changed what was possible during periods of lockdown, tiers or easing, hopefully this narrative gives a flavour of what has been possible during the year.

Before lockdown we have had a schedule of two morning services every Sunday, a 9:30 Story-telling service and a service at 11:00 which alternates between Holy Communion and a service of the Word. On the second Sunday of the month we hold a Choral Evensong at 18:30. Baptisms may be held either during the 11:00 service or separately at 12:30. There have been two baptisms this year, before lockdown. There is a midweek Communion at 10:30 on a Thursday morning. We offer times of led meditation and prayer from 7:00 every Monday morning and at 10:30 on a Wednesday morning, but also ensure that the Savage Chapel (a chapel within St Michael and All Angels) is available for quiet prayer and reflection. The Church is open every day between 10:00 and 12:30. All are welcome to visit, to pray or to sit in our Open Door café, which is run by members of the congregation. As a town centre Church we hold a number of special services throughout the year. These are linked to specific groups within our community. We host services for our local schools, local government and a local hospice, and we hold services such as our remembering service for those suffering bereavement.

Page 3

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Trustees' Annual Report Year Ended 31 December 2021

Achievements and Performance (cont.)

Worship, witness and prayer (cont.)

During the past year, as was the case from the start of the pandemic, the PCC has endeavoured to follow the guidance given to bring help and support to those in need. Services were amalgamated into one streamed service at 10:00 on a Sunday morning, which included socially distanced attendance when it was allowed. The church was open for individual prayer during the week, when this was possible. However the café was closed and special services could only be recorded and streamed for community groups.

Since the summer, when restrictions became more relaxed, we have been able to complete a project to install streaming and audio-visual kit. With a review of our services, where we have tried to incorporate what we have learned from lockdown, we have moved from two Sunday morning services to one live and streamed Family Service at 10:00 each Sunday.

We have opened a surplus food café, Angel at my Table, available Thursday to Saturday, which works on a donation principle - everyone who comes is fed and those who are able give a contribution.

St Michael & All Angels is often chosen to host weddings and funerals. However, with the restrictions, weddings have been postponed and most funerals were held at the crematorium. During 2021, there have been nine funerals, two memorial services and one wedding held at St Michael and All Angels and fifteen funerals held at the crematorium.

Use of the Church Building

Whilst we see our Church as a centre for worship, we do believe that it should have an availability for all. As mentioned above, once the restrictions were suitably relaxed, it is open every day of the week. Macclesfield holds a Treacle Market on the last Sunday of each month, and with the help of volunteers from our congregation we are able to open the Church, providing cakes, tea and coffee, and a place to sit and rest. We are a regular venue for concerts and continue to be involved with Macclesfield's Barnaby Festival.

Again the pandemic cut a swathe through the activities that could be hosted at St Michael's. The guidance has meant that only specialist groups with specific dispensation have been able to meet socially distanced.

Reference and Administration

The names of the trustees who have served during the year are detailed on page 2. All members of the PCC are registered on the Electoral Roll of the Parish.

The PCC is responsible for making decisions on all matters of general concern and importance to the parish including deciding how the funds of the PCC are spent.

PCC Responsibility to produce accounts

The council is responsible for its annual report, and the preparation of the financial statements for each financial year which give a true and fair view of the incoming resources and application of those resources to the charity during the year, and of the state of affairs at the end of the financial year. In preparing these financial statements the PCC are required to:

Page 4

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Trustees' Annual Report Year Ended 31 December 2021

PCC Responsibility to produce accounts (cont.)

The PCC has overall responsibility for ensuring that the charity has appropriate systems and controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2011.

They are also responsible for safeguarding the assets of the charity and for their proper application as required by charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:

Volunteers

The PCC would like to thank all the volunteers who work so hard to make our church the community that it is. To thank everyone by name would require too much paper and ink (and we do want to be Eco friendly) but it would be remiss not to mention our Wardens, Paul Simms and Rachel Mayers, who have helped to guide us through the pandemic. Thank you to those who have visited the ill and infirm, to all who have acted as stewards and to those who work quietly in the background making sure that our parish continues to function seamlessly.

Investment Policy

All investments are held within the Chester Diocesan Portfolio.

Financial Review

The accounts detail the income and expenses of St Michael and All Angels' including a record of the shared financial activities of the Team. In effect the figures are a consolidation of the Team and the St Michael's details. The Team account being augmented by the contributions made by All Saints', St Barnabas' and St Peter's to central costs. These central costs include the funding of the Diocesan Quota. The accounts show the day to day running of St Michael's within the Unrestricted figures, whilst the Restricted figures include both special projects and all Team expenditure, such funds not being available for St Michael's general expenditure.

The results for the past twelve months, as must be the case for charities up and down the country, have continued to be impacted by the Covid-19 pandemic. All that is normally taken for granted as the means of sharing mission and ministry has had to be rethought. Our Church building, a focus location for so many different activities, could no longer continue to be used as we have all come to expect. Much time, thought and prayer went into replanning what could be achieved in line with the guidance from the Government and the Church of England. We owe a debt of gratitude to Martin, our Rector, and his team who, have been able to Zoom and stream our Sunday worship. Whilst meeting in person has not always been possible, much has been done by so many to keep connected. The relaxation of lockdown has meant that some activity has restarted but with some trepidation. There is an air of caution and the constant questioning of what constitutes the new normal. With these thoughts in mind it should be no surprise to find that the financial picture is no longer a reflection of the years that have gone before.

St Michael and All Angels' has a stewardship scheme in place and those making donations are encouraged to apply gift aid where this is appropriate. We are constantly thankful for all those of the Church Family who continue to contribute so generously to support the mission and ministry of St Michael & All Angels' Church. Planned giving remains our major source of income which was further enhanced by the linked gift aid declarations. Sadly this year we have lost a number of long-standing members of our Church Family, all of whom contributed in so many ways to our life together. We have seen a decreased of planned giving by 8% (2020 - 4% increase).

Page 5

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Trustees' Annual Report Year Ended 31 December 2021

Financial Review (cont.)

With restrictions imposed on access to the building and the need for social distancing, we have not been able to host as many groups as would otherwise have been possible. The gradual easing of restrictions, from the Summer months onwards, has made a significant difference. Income from room bookings and café takings have seen a marked improvement. As well as their contribution these groups bring a vibrancy to the life of the Church and draw in many who might not otherwise step inside a church building. We are so pleased to be able to welcome all who wish to make use of our facilities.

This year has also seen a considerable income from donations, both for specific projects (included in restricted income) and by way of general financial support. Through the entirety of the pandemic lockdown, income has come from a multitude of unexpected sources, we are so grateful to all who have been so generous, thank you. Our thanks go to Macclesfield Town Council for their support for our streaming project. We were also able to gain support from the Government's Coronavirus Job Retention Scheme for those on flexible furlough.

This year has seen a number of changes in the office. Sue Reid, who has worked as our Clergy PA since September 2009, left us to move to a new role at Wythenshawe Hospital. We thank her for all her work over the years and wish her every blessing for her new challenge. We have taken this time of change as an opportunity to review the workings of our office and so have reduced the level of expenditure charged to the Team. St Michael's is now responsible for that expenditure. We're delighted to welcome Porsche McGarry as our new Clergy PA. She has shared the office with Rachel Mayers, who co-ordinated the bookings and building management on a voluntary basis while we have been looking to employ someone in this role. We are delighted that Elaine Collinson will be joining us in January 2022 to look after this important task.

The period of lockdown did allow savings against our expenditure particularly for utility bills and general running costs. The PCC took the opportunity to carry out a major review of the electrical system during the lockdown, which proved to be beneficial before the new audio-visual and streaming equipment were installed. We are also delighted with the restoration work to our Youth Centre stained-glass window, carried out by Charles Lightfoot Ltd. This was needed following an act of vandalism and was covered by our insurance.

The result for the year has meant that we have been able to contribute to a number of good causes, locally, nationally and internationally and still add to our reserves. As can be seen in the SoFA the total of Restricted and Unrestricted net income amounts to £13,160.

The appropriate level of reserves is considered regularly. As can be seen from the accounts the Unrestricted Reserve at the year end is £112,921. It is this reserve that acts as the working capital of the charity. Total expenditure for the year amounted to £244,827, equating to an average, monthly, expenditure of £20,402. We believe that reserves should be sufficient to meet normal and emergency expenditure. These figures indicate that the current level of reserves represent five and a half months' expenditure, which the PCC consider to be sufficient.

The Church Treasurers have met together regularly in order to scrutinise the finances of both the individual churches and the Team Ministry as a whole. Cost savings have been made where appropriate, but in all things the ministry and the mission of the Parish drive the finances, rather than the other way round.

Signed for and on behalf of the St Michael and All Angels' PCC:

Michael Strutt, Trustee

4th May 2022

Page 6

Registered Charity Number: 1146048

Independent Examiner's Report to The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Year Ended 31 December 2021

I report on the accounts for the year ended 31 December 2021 which are set out on pages 8 to 19.

Respective responsibilities of the PCC and the examiner

The PCC is responsible for the preparation of the accounts. They consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent Examiner's statement

In the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the 2011 Act; and

  2. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or

  3. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Neil Kennington FCA Heywood Shepherd Chartered Accountants

1 Park Street Macclesfield Cheshire SK11 6SR

4th May 2022

Page 7

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Statement of Financial Activities (Including Income and Expenditure Account) Year Ended 31 December 2021

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net gains/(losses) on investments
14
Net income/(expenditure)
Transfers between funds
6, 17
Net movement in funds
Reconciliation of funds:
Total funds brought forward at 1 January 2021
Total funds carried forward at 31 December 2021		 Unrestricted
Restricted
2021
2020
£
£
£
£
117,462
20,313
137,775
177,217
11,970
413
12,383
9,795
28,601
615
29,216
6,965
17
6
23
904
-
73,034
73,034
83,267
158,050
94,381
252,431
278,148
4,128
538
4,666
516
79,608
159,953
239,561
227,844
83,736
160,491
244,227
228,360
-
5,556
5,556
1,906
74,314
(60,554)
13,760
51,694
(67,666)
67,666
-
-
6,648
7,112
13,760
51,694
106,273
357,373
463,646
411,952
112,921
364,485
477,406
463,646

The notes on pages 10 to 18 form part of these accounts

Page 8

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Balance Sheet Year Ended 31 December 2021

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one year
16
Net current assets
Net assets
Charity Funds
Restricted
17
Unrestricted
17
Total charity funds		 2021
2020
£
£
210,296
183,812
74,108
68,552
284,404
252,364
28,015
32,264
201,230
196,559
229,245
228,823
36,243
17,541
193,002
211,282
477,406
463,646
364,485
357,373
112,921
106,273
477,406
463,646

The financial statements were approved and authorised for issue by the PCC on 4th May 2022

Signed on behalf of the board of trustees:

Michael Strutt, Trustee

The notes on pages 11 to 19 form part of these accounts

Page 9

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Statement of Cash Flows Year Ended 31 December 2021

Cash Flow from operating activities
Cash flow from investing activities
Purchase of Fixed Assets
Interest received
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 January 2021
Cash and cash equivalents at 31 December 2021
Cash and cash equivalents consist of:
Cash at bank in in hand at 31 December 2021		 2021
2020
£
£
36,034
45,295
(31,386)
(184,285)
23
904
4,671
(138,086)
196,559
334,645
201,230
196,559
201,230
196,559

Reconciliation of net income to net cash flow from operating activities

Net income for year
(details per SoFA)
Interest receivable
Depreciation
(Gains) on investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash flow from operating activities		 13,760
51,694
(23)
(904)
4,902
473
(5,556)
(1,906)
4,249
(6,590)
18,702
2,528
36,034
45,295

Page 10

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements Year Ended 31 December 2021

1. Summary of significant accounting policies

(a) General information and basis of preparation

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield is a Church of England Parish within the Diocese of Chester. It is an unincorporated charity registered with the Charity Commission. The address of the registered office is St Michael and All Angels' Church, Market Place, Macclesfield, Cheshire SK10 1DY. The nature of the charity's operations and principal activities are the provision of regular public worship, the provision of pastoral work, the provision of the teaching of the Christian faith, the promotion of the Christian faith and the support of charities involved in Christian outreach and development.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with The Church Accounting Regulations 2006, Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

These financial statements are drawn up on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of the charity, rounded to the nearest £1.

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.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Page 11

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

1. Summary of significant accounting policies (cont.)

(c) Income recognition (cont.)

No amount is included in the financial statements for volunteer time.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Income from grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is earned through holding assets for investment purposes. Interest and dividend income is recognised as the charity's right to receive payment is established.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably. It is classified under the following headings:

The charity is not registered for VAT. Activity expenditure includes the associated VAT element.

(e) Tangible fixed assets

In accordance with the direction of s10(2)(a) and (c) of the Charities Act 2011, consecrated land and buildings, the Rectory and church furnishings, which require a faculty for their disposal, are excluded from these accounts. All expenditure on such items, whether maintenance or for improvement, is written off when it is incurred.

To support its role as a training parish, the PCC has owned a freehold property in which a curate is able to live during their time within the Team. In 2019 the PCC decided to dispose of the existing property and to purchase a smaller, more manageable one. The original property was valued at cost.

The acquisition of a leasehold mews property was completed on 16 October 2020, utilising the proceeds from the earlier sale. At the date of acquisition, the unexpired lease term is 160 years. The PCC recognises that leasehold properties should not be held indefinitely and recommends that this ownership be reviewed regularly. The property is to be depreciated on a straight line basis over fifty years to a residual value of £70,000.

Other items of equipment costing more than £1,000 are depreciated on a straight line basis over four years. Items costing less than £1,000 are written off in year of purchase.

Page 12

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

1. Summary of significant accounting policies (cont.)

(f) Investments

The Investments are with the Chester Diocesan Board of Finance. The board notifies the charity of the year end valuation of the investments and transfers income to the charity as it arises. Changes in the fair value are recognised in the SoFA.

(g) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(h) Leases

Rentals payable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.

(i) Tax

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(j) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 13

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

2.
Income from donations and legacies
Planned giving
Cash on plate
Tax reclaims on donations and gifts
Legacies and donations
Grant income		 Unrestricted
Restricted
2021
2020
£
£
£
£
81,992
-
81,992
89,288
164
316
480
854
20,782
1,657
22,439
25,704
14,524
12,827
27,351
49,005
-
5,513
5,513
12,366
117,462
20,313
137,775
177,217

During the year the Charity has received grant support. For those who were on furlough, the PCC has claimed and received £3,513 (2020 - £5,966) from the Government Coronavirus Job Retention Scheme. Macclesfield Town Council have contributed £2,000 towards our streaming project, which was completed during the year.

3.
Income from charitable activities
Wedding and funeral fees
4.
Income from other trading activities
Open Door trading
Rental and other income
5.
Income from investments
Dividends and interest excluding tax
6.
Other income
Insurance income
Parish share - All Saints'
Parish share - St Barnabas'
Parish share - St Peter's		 11,970
413
12,383
9,795
11,970
413
12,383
9,795
23,384
-
23,384
6,515
5,217
615
5,832
450
28,601
615
29,216
6,965
17
6
23
904
17
6
23
904
-
6,139
6,139
-
-
36,463
36,463
38,842
-
8,437
8,437
20,905
-
21,995
21,995
23,520
-
73,034
73,034
83,267

St Michael and All Angels provides 47% (2020 - 47%) of the funding for Team activities and towards the Diocesan Quota, as shown by the transfer of funds in the SoFA. The three other churches together provide the balance. At the end of each year the Team funds are adjusted to reflect the over, or under, spend in proportion to the contributions made. The figures shown above represent the net contribution made during 2021. The Team funds have been adjusted to reflect the cash repayments made to each church, the details of which are included in note 18.

The St Barnabas' parish share has been reduced by £10,000, as was agreed with the Archdeacon and the Diocese, by way of a parish share holiday.

Page 14

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

7.
Raising funds
Open Door and other trading
8.
Charitable activities
a
Ministry
Diocesan quota
Clergy and youth work expenses
Wedding and funeral costs
Worship costs
Organists and organisations
Outreach
Donations - (see 9. below)
Flowers
b
Premises
Utilities
Cleaning
Repairs
Maintenance
Depreciation
Insurance
Clergy housing costs
c
Administration and support
Administration
Telephone
Printing & Stationery
Office Equipment
Other
Total charitable activities		 Unrestricted
Restricted
2021
2020
£
£
£
£
4,128
538
4,666
516
4,128
538
4,666
516
-
126,263
126,263
135,249
-
2,311
2,311
3,024
7,969
-
7,969
7,770
1,637
-
1,637
1,713
1,750
709
2,459
1,544
123
-
123
417
8,415
4,239
12,654
3,560
-
-
-
28
19,894
133,522
153,416
153,305
9,668
-
9,668
8,182
5,410
3,513
8,923
8,203
4,046
6,139
10,185
2,965
17,558
-
17,558
10,835
-
4,902
4,902
473
9,383
-
9,383
9,361
164
6,360
6,524
9,758
46,229
20,914
67,143
49,777
9,670
2,990
12,660
19,979
1,272
5
1,277
1,320
1,702
53
1,755
2,622
841
-
841
841
-
2,469
2,469
-
13,485
5,517
19,002
24,762
79,608
159,953
239,561
227,844

Included within Administration is the remuneration for the independent examiner amounting to £1,476 (2020 - £1,392)

9.
Donations - (included in 8a. above)
Church at home and overseas
Secular charities		 6,695
2,008
8,703
1,700
1,720
2,231
3,951
1,860
8,415
4,239
12,654
3,560

Page 15

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

10. Analysis of Expenditure
Raising funds
Charitable activities
Ministry
Premises
Administration and support
Total expenditure		 Staff
Other
2021
2020
£
£
£
£
-
4,666
4,666
516
720
152,696
153,416
153,305
11,795
55,348
67,143
49,777
8,951
10,051
19,002
24,762
21,466
222,761
244,227
228,360

11. Trustee information

No trustees receive expenses for their role as a trustee. However, all verifiable expenditure, paid by individuals on behalf of St Michael's and the Team Ministry, is reimbursed to those individuals. The total reimbursed to individuals who are also trustees amounted to £2,596 (2020 - £3,752). In addition the parish pays council tax direct to Cheshire East Council on all Clergy housing. Council tax amounted to £5,889 (2020 - £6,239). Council tax is covered by the tenant when a clergy house is being rented out and is not payable on an empty property during a vacancy.

12. Staff information

There are seven part-time members of staff (2020 - five). The total remuneration, including employer pension contributions, amounted to £21,466 (2020 - £31,382).

In August 2016 the PCC adopted the NEST auto-enrolment defined contribution pension scheme. Employer and Employee contributions are recorded in the SoFA and have been remitted in accordance with the regulations.

13. Fixed Assets
Cost as at 1 January 2021
Additions during the year
Cost as at 31 December 2021
Depreciation as at 1 January 2021
Depreciation for the year
Depreciation as at 31 December 2021
NBV as at 31 December 2021		 Leasehold
Equipment
2021
2020
£
£
£
£
184,285
-
184,285
-
-
31,386
31,386
184,285
184,285
31,386
215,671
184,285
473
-
473
-
2,286
2,616
4,902
473
2,759
2,616
5,375
473
181,526
28,770
210,296
183,812

The audio visual and streaming project was completed during the year and has been added to fixed assets.

Page 16

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

14. Investments
January
2021
£
CBF Investment at Chester
38,638
CBF Deposits
29,914
68,552
15. Debtors
Ministry
Premises
Administration and support
Debtors and prepayments
16. Creditors: amounts falling due within one year
Ministry
Premises
Administration and support
Creditors and accruals
17. Fund details
January
2021
Income
£
£
Restricted Funds
Team - General Fund (see note 18)
14,713
66,901
Team - Youth Fund
4,203
-
St Michael's - Fixed Assets
183,812
-
St Michael's - Investments
68,552
-
St Michael's - Building Fund
79,363
10,624
St Michael's - Special Collections
-
6,304
St Michael's - Grants & Insurance
-
9,652
St Michael's - Bellringers
2,789
527
St Michael's - Choir
1,016
373
St Michael's - Discretionary Fund
2,925
-
Total Restricted Funds
357,373
94,381
Unrestricted Funds
St Michael's - General Fund
104,295
144,944
St Michael's - Building Management
1,978
13,106
Total Unrestricted Funds
106,273
158,050
Total Funds
463,646
252,431
Please see over for details of each of these funds.		 14. Investments
January
2021
£
CBF Investment at Chester
38,638
CBF Deposits
29,914
68,552
15. Debtors
Ministry
Premises
Administration and support
Debtors and prepayments
16. Creditors: amounts falling due within one year
Ministry
Premises
Administration and support
Creditors and accruals
17. Fund details
January
2021
Income
£
£
Restricted Funds
Team - General Fund (see note 18)
14,713
66,901
Team - Youth Fund
4,203
-
St Michael's - Fixed Assets
183,812
-
St Michael's - Investments
68,552
-
St Michael's - Building Fund
79,363
10,624
St Michael's - Special Collections
-
6,304
St Michael's - Grants & Insurance
-
9,652
St Michael's - Bellringers
2,789
527
St Michael's - Choir
1,016
373
St Michael's - Discretionary Fund
2,925
-
Total Restricted Funds
357,373
94,381
Unrestricted Funds
St Michael's - General Fund
104,295
144,944
St Michael's - Building Management
1,978
13,106
Total Unrestricted Funds
106,273
158,050
Total Funds
463,646
252,431
Please see over for details of each of these funds.		 January
2021
£
38,638
29,914		 Unrealised December
Additions
Disposals
Gain/(Loss)
2021
£
£
£
£

-
-
5,556
44,194

-
-
-
29,914
68,552
-
-
5,556
74,108
Unrestricted
Restricted
2021
2020
£
£
£
£
26,024
300
26,324
29,801
1,368
323
1,691
2,299
-
-
-
164
27,392
623
28,015
32,264
12,073
10,015
22,088
12,682
10,071
2,236
12,307
3,056
335
1,513
1,848
1,803
22,479
13,764
36,243
17,541
Unrealised
December
Expenditure
Gains
Transfers
2021
£
£
£
£

(137,590)
-
67,666
11,690

(392)
-
-
3,811

(4,902)
-
31,386
210,296

-
5,556
-
74,108

(942)
-
(31,386)
57,659

(6,304)
-
-
-

(9,652)
-
-
-

(343)
-
-
2,973

(366)
-
-
1,023
-
-
-
2,925
357,373
94,381
(160,491)
5,556
67,666
364,485
104,295
144,944
1,978
13,106
(83,616)
-
(55,666)
109,957

(120)
-
(12,000)
2,964
106,273
158,050
(83,736)
-
(67,666)
112,921
463,646
252,431
(244,227)
5,556
-
477,406

Page 17

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

17. Fund details (cont.) Restricted Funds

Team

General Fund - The restricted Team funds are held on behalf of the individual churches within the Team. These funds are held as working capital to meet on-going expenditure incurred by the Team Ministry.

Youth Fund – This fund supports the joint youth work activities of the Team Parish. Money was given specifically to support this work.

St Michael's

Fixed Assets – In the reorganisation of 2010 the Team Assets were passed back to the Local Parishes. As a training parish, St Michael’s PCC are required to provide accommodation for a curate in training. This property is included in Fixed Assets. During the year the PCC completed the installation of an audio visual and streaming system the cost of this project has been added to fixed assets.

Investments - The investments are held and managed by the Chester Diocesan Board of Finance.

Building Fund – This is a capital project fund towards the upkeep and improvement of Church buildings and property. As well as receiving regular donations this account is used to collate donations for specific capital projects. Once completed such projects are transferred into the Fixed Asset account.

Special Collections – Collections may be made to raise funds for particular charitable work by third parties; whilst St Michael's organises the collection the full amount is given to the particular charity.

Grants & Insurance – This includes furlough and insurance receipts which were then specifically used for their set purpose.

Bellringers – St Michael’s Bellringers have their own fund to cover day to day disbursements.

Choir – St Michael’s Choir has its own fund to cover day to day disbursements.

Discretionary Fund – This fund is in the discretion of the Rector to support those in need.

Unrestricted Funds

St Michael's

General Fund – This is the general cash fund available for day to day disbursements.

Building Management – For ease of management we hold a separate bank account for bookings and the running of the Open Door Café. Money is transferred to the St Michael’s general fund on a regular basis. This account is also included within unrestricted funds.

Page 18

Registered Charity Number: 1146048

The Parochial Church Council of the Ecclesiastical Parish of St Michael and All Angels' Church, Macclesfield Notes to the Financial Statements (cont.) Year Ended 31 December 2021

18. Restricted Team funds

The restricted Team funds are held on behalf of the individual churches within the Team. These funds are held as working capital to meet on-going expenditure incurred by the Team Ministry. The movements and balance on this account is attributable as follows:

St Michael's
St Peter's
All Saints'
St Barnabas'		 January
Team
Team
Cash
December
2021
Income
Expenditure
Transfer
2021
£
£
£
£
£
7,094
73,950
(69,369)
(6,278)
5,397
2,147
23,604
(22,141)
(1,609)
2,001
3,619
39,336
(36,899)
(2,873)
3,183
1,853
10,448
(9,181)
(2,011)
1,109
14,713
147,338
(137,590)
(12,771)
11,690

19. Transfers between funds

The St Michael's building management fund has transferred £12,000 (2020 - £11,018) into the St Michael's funds of which £5,756 (2020 - £4,438) relates to donations. St Michael's transferred £73,950 (2020 - £82,296) into the Team fund, from which the diocesan quota and the central Team expenditures are met. Note 18 records the reimbursement of £6,278 (2020 - £12,187) received by St Michael's. The net transfer of £67,666 is detailed in the SoFA.

20. St Michael's Building Fund

This year an audio visual and streaming facility has been installed. Donations and grants towards this were received both this year and last and held within the fund account. The total cost of installation has been transferred from this account and added to fixed assets.

The PCC are mindful of the further work required to see all the roof work completed. With guidance they are aiming to visualise a project of works which reflects all aspects of life within St Michael's; to maximise its uses both as a place of worship and as a community asset.

St Michael's Building Fund January
December
2021
Income
Expenditure
Transfers
2021
£
£
£
£
£
79,363
10,624
(942)
(31,386)
57,659

21. Future commitments

The PCC has just received the Quinquennial Report. This report highlights a number of capital repairs that need to be undertaken as soon as possible. Costings will be sought, together with possible sources of grant finance. The PCC will not press ahead with these repairs until they are satisfied that there is sufficient funding to complete the work. The PCC is not aware of other future commitments.

22. Contingent liabilities

The PCC is not aware of any contingent liabilities not provided for in these accounts. As was mentioned within this equivalent note last year, the Covid-19 pandemic has had a major impact on the events that have been recorded during the year. Having reflected upon these events, the PCC is satisfied that there is no further impact that should be reflected in the 2021 financial statements.

Page 19