2020-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St John The Evangelist, Churt And Rushmoor

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Parochial Church Council of St. John's, Churt Treasurer's Report

For the Year Ending 31st December 2020

1. General Fund

The year ended with the fund showing a surplus for the year's activities of £19.5k, and a closing balance of £58.5. Given the circumstances caused by the Coronavirus pandemic, this is a fabulous result financially.

Overall, total income excluding legacies [but including gift aid] was down on 2019 by £14.4k, due to lower regular giving/HMRC rebate of £7.8k [we lost 2 sizeable regular donors in the first quarter of the year with annualised income of £5.8k], casual giving/collections of £4.7k, lower Parish magazine sales of £2.7k, offset by extraordinary income of £2.0k [a donation to a Covid-19 face mask appeal organised by the Bicknell family]. We did also gain one additional regular donor at the beginning of 2020, thus annualised regular income at December 2020 was £5.2k lower than at December 2019. This meant the deficit between regular income and regular expenses had increased to c. £15k.

However, we received a very generous legacy payment of £4.5k which offset some of the lost income.

Fees to the PCC for wedding and funeral services etc were slightly down on 2019 by £0.4k.

The Parish Magazine income was £2.7k down on 2019 at £4.2k, though costs were £0.5k down at £2.8k, producing a net income of £1.4k, £2.1k lower than in 2019 - this is due mainly to the decision to give advertisers a payment holiday' during the pandemic period.

Total expenditure was down on 2019 by £27.5k.

Within this, the main areas of decreased spend were Vicarage Rent £4.5k, Parish Share £23.1k, Upkeep of Services £1.3k. The first 2 were due to the unfortunate departure in February of our Resident Minister, Clare Challis, where we have not paid any rent or minister costs since then. The latter was due to the closure of the church during the pandemic. There were also savings in other areas such as Upkeep of the churchyard and Stables.

At the year end, payments totalling £5.3k to charitable organisations have been accrued, the same level as for 2019.

There is a new lease agreement on the photocopier at £210 per quarter plus servicing/copy charges. The new lease cost and indeed service/copy charges represent a considerable annual saving [£1.1k for the lease alone], with title to the machine passing to the PCC at the end of the 5 year lease term. There are no other long term financial commitments.

2. Restricted Funds

The total year end balance on Restricted funds stood at £68.5k, a net reduction of £7.4k in the year.

A total of £9.6k was spent from the Fabric fund, the main area of spend being £3.0k on roof repairs [though we received £2.2k insurance rebate], £3.4k on coping replacement in the Vestry, £0.6k PAT electrical testing and £1.5k fencing repairs between the vicarage and churchyard.Other expenses include garden maintenance and a portion of heating bills.

The Friends of St John's fund raising activities were unfortunately quashed by the pandemic, thus there was no income or indeed expenses of any sort during the year.

There was no activity from the Growth fund.

3. Designated Funds

The Projects Fund year end balance stood at £12.9k, a decrease of £1.3k over the opening balance, due to replacement of the pc and IT accessories for the Admin office.

The balance on the Children & Youth Fund was down by £44 [bible study folders]. The balance on the Toddler Fund was up by £0.4k [sundry cash donations received].

4. Reserves Policy

It is PCC policy to maintain a minimum balance of 25% of average annual regular expenditure in the General Fund, as well as a substantial balance in a restricted Fabric Fund. Pleasingly, the balance on both these funds at the end of 2020 was healthy, thus meeting these criteria.

Summary

Against the backdrop of an unprecedented period in our lives, coupled with the departure of our Resident Minister, the church finances has recorded an overall surplus of £11.2k.

We lost a couple of donors, but gained another, we saved money on Parish fees and vicarage rental, saved money on running expenses and upkeep of services.

We were blessed with a sizeable legacy in the first part of the year. But sadly, there was no activity from the Friends during the year.

A main area of huge encouragement and gratitude has been the continued financial support from the community in terms of their continued donations throughout the pandemic period - thanks too to the Stewardship team and the Wardens for keeping the churh open to visitors as often as possible, and to Richard Bodle for continuing with on-line services.

Currently, whilst there are savings on rent and minister fees, there is an annual surplus of c. £14k between regular income and regular expenses, though once a new Resident Minister is in place, we will run at an annulised deficit of c. £15k which is not sustainable.

I therefore urge the PCC Committee to continue it's positive work done so far, in finding as many ways as possible to increase further the level of regular giving, and other forms of donations.

Finally, I would like to express my thanks to all those who collate and bank the weekly collections, who collect and bank the cash from magazine sales throughout the parish and who sell advertising space in the magazine - particulary during this hard and challenging year. I would also like to express my ongoing gratitude to Barry Field for his continuing support, and for administering the gift aid recovery in his role as Finance Officer.

Tim Kirk Honorary Treasurer

Parochial Church Council of St. John's, Churt

Statement of Financial Activities

31st December 2020	31st December 2020	31st December 2020
Unrestrict ed Funds	Restricted Funds	Designated Fund	TOTAL 2020	TOTAL 2019	YoY Move
£	£	£	£	£	£
73,864 0 32 6,911 2,121	2,285 0 0 0 0	0 0 0 0 558	76,149 0 32 6,911 2,679	114,148 8,898 57 10,045 214	(37,999) (8,898) (24) (3,134) 2,465
82,929	2,285	558	85,772	133,362	(47,591)
0 0 63,336 90	0 0 9,645 0	0 0 1,474 0	0 0 74,455 90	2,746 0 100,794 90	2,746 0 26,338 0
63,426	9,645	1,474	74,545	103,630	29,084
19,503 38,984	(7,360) 75,835	(916) 16,919	11,226 131,738	29,733 102,006	(18,507) 29,733
58,487	68,475	16,003	142,964	131,738	11,226

Parochial Church Council of St. John's, Churt

Balance Sheet as at 31st December 2020

Note Current assets Debtors 4 CBF Bank Deposit Account Cash at Bank Total Current Assets Liabilities Creditors - amounts falling due in one year 5 Total Current Assets Total Net Assets Parish Funds Unrestricted 7 Restricted 7 Designated 7 Total Funds	TOTAL 2020	TOTAL 2019
	£	£
	8,935 7,627 136,190
		11,835 7,595 119,791

	152,753	139,221
	9,788	7,482
	9,788	7,482

	142,964	131,738
	58,487 68,475 16,003	38,984 75,835 16,919
	142,964	131,738

Tim Kirk [PCC Treasurer] Approved by the Parochial Church Council

Notes to the Financial Statements

Parochial Church Council of St. John's, Churt

For the Year Ending 31st December 2020

1. Accounting Policies

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP 2005.

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

Funds

'Restricted' funds represent bequests, donations and PCC appeal proceeds made for a specific purpose. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance of that fund. The funds are generally held in a bank deposit account and the interest is apportioned to individual funds on an average balance basis. 'Unrestricted' funds are general funds which can be used for PCC general running expenses.

'Designated' funds are part of the unrestricted funds that have been set aside for a particular project. These funds may be redesignated by the PCC, therefore designation does not prevent these funds from being spent on any other purpose.

'Conduit' funds represent fees for the services of the clergy, organists, vergers or choir at weddings and funerals, where the money is paid over directly to those involved. These funds also include collections taken at funerals where these funds are designated for charities or organisations outside of the church, and funds which have been collected or received on behalf of other charities. These funds are not included in the Statement of Financial Activities.

Incoming Resources

Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Legacies are accounted for when the PCC is legally entitled to the amounts due. All other income is recognised when it is received. All incoming resources are accounted for gross.

Resources Expended

Donations are accounted for when paid over. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed Assets

Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) of the Charities Act 2011.

Cost information is not available for moveable church furnishings acquired prior to 2000, therefore such assets are not valued in the financial statements. Subsequently no individual item has cost more than £1,000 so all such expenditure has been written off when acquired.

All individual items of equipment used within the church premises with a purchase price of £500 or less have been written off when acquired.

2. Incoming Resources

Unrestrict ed Funds	Restricted Funds	Designated Funds	TOTAL 2020	TOTAL 2019	YoY Move
£	£	£	£	£	£
36,787 7,891 15,148 892 223 549 137 6,142 1,535 4,561	2,285	0	36,787 7,891 15,148 892 223 549 137 6,142 1,535 2,285 0 4,561	42,567 8,634 15,148 3,606 902 2,527 632 6,781 1,695 31,655 0 0	(5,781) (744) 0 (2,714) (679) (1,979) (495) (639) (160) (29,370) 0 4,561
73,864	2,285	0	76,149	114,148	(37,999)

b) Activities for Generating Funds Fund Raising: Friends of St. John Tax recoverable Other Tax recoverable Bookstall Total c) Receipts from Investments Current account interest CBF Deposit Account interest

Total

d) Income from Church Activities Church Property Lettings Parish magazine sales and advertising Fees paid to the PCC Bookstall

Total

e) Other Incoming Resources Sale of Xmas cards Donation to Covid-19 mask appeal Insurance rebate re roof repairs Hire of Stables / Church Room Other / Charity Collections

Total

Total Incoming Resources

0 0 0 0 0	0 0 0 0 0		0 0 0 0 0	8,898 0 0 0 0	(8,898) 0 0 0 0
0	0	0	0	8,898	(8,898)
0 32	0 0		0 32	0 57	0 (24)
32	0	0	32	57	(24)
0 4,211 2,700 0	0 0 0 0		0 4,211 2,700 0	0 6,936 3,109 0	0 (2,725) (409) 0
6,911	0	0	6,911	10,045	(3,134)
(2,164) 2,000 2,285 0 0	0	558	(2,164) 2,000 2,285 0 558	69 0 0 95 50	(2,233) 2,000 2,285 (95) 508
2,121	0	558	2,679	214	2,465

82,929	2,285	558	85,772	133,362	(47,591)

3. Resources Expended

Unrestrict ed Funds	Restricted Funds	Designated Funds	TOTAL 2020	TOTAL 2019	YoY Move
£	£	£	£	£	£
	0 0		0 0	2,746 0	2,746 0
0	0	0	0	2,746	2,746
0 0	0 0		0 0	0 0	0 0
0	0	0	0	0	0
2,140 2,415 454 550			2,140 2,415 454 550	2,140 2,415 249 550	0 0 (205) 0
5,559	0	0	5,559	5,354	(205)
32,693 0 1,500 771 0 7,688 172 1,038 0 0 2,850 0 150 177 4,992 0 0 2,602 0 3,143	9,645 0 0 0	180 1,294	32,693 0 1,500 771 0 7,688 9,818 1,038 0 0 2,850 180 150 177 4,992 0 1,294 2,602 0 3,143	55,799 0 6,000 695 0 5,960 5,334 2,370 551 0 3,372 403 1,199 366 5,765 0 0 3,036 0 4,589	23,107 0 4,500 (76) 0 (1,728) (4,483) 1,332 551 0 522 223 1,049 189 773 0 (1,294) 433 0 1,446
63,336	9,645	1,474	74,455	100,794	26,338
90	0		90	90	0
90	0	0	90	90	0

63,426	9,645	1,474	74,545	103,630	29,084

a) Fund Raising Trading Costs Friends of St. John fund raising Organ refurbishment
b) Costs of Generating Voluntary Income Total
c) Church Activities Missionary & Charitable giving: Church overseas Home mission & church organisations Local church schools Secular charities
Missionary & Charitable giving

Total d) Governance Costs AGM Expenses

Payments to PCC Members

During the year, NIL expenses were made to the Resident Minister, and NIL were made to PCC members for various fundraising activities, church running expenses etc.

4. Debtors

a) Unrestricted Funds Tax recoverable Others b) Restricted Funds Tax recoverable Others b) Conduit Fund

Total Debtors

TOTAL 2020	TOTAL 2019
£	£
8,935 0	11,199 636
8,935	11,835
0 0	0 0
0	0
0	0
0	0

8,935	11,835

5. Liabilities

Amounts falling due in one year Unrestricted Funds Unpresented cheques and expenses Prepayment magazine advertising Accruals for utilities Magazine printing December edition Parish Share

Restricted Funds Withheld invoice payment Conduit Fund

Total Liabilities

TOTAL 2020	TOTAL 2019
£	£
8,676 300 0 0	1,070 300 0 5,819
8,976	7,189
0	0
0	0
812	293
812	293

9,788	7,482

6. Funds Movements

Fabric Fund	Growth Fund	Church Flowers	AVA System	TOTAL 2020
£	£	£	£	£
61,264 2,285 (9,645) 0	13,854 0 0 0	716 0 0 0	0 0 0 0	75,835 2,285 (9,645) 0
53,904	13,854	716	0	68,475
Youth Activities Projects Fund £ £ 2,764 14,155 558 0 (180) (1,294) 0 0 3,142 12,861
Youth Activities	Projects Fund			TOTAL 2020
£	£			£
2,764 558 (180) 0	14,155 0 (1,294) 0			16,919 558 (1,474) 0
3,142	12,861			16,003

7. Analysis of Net Assets - by Fund

Unrestrict ed Funds	Restricted Funds	Designated Funds	Conduit Funds	TOTAL 2020
£	£	£	£	£
59,340 8,123 (8,976)	68,475 0 0	16,003 0	812 (812)	143,817 8,935 (9,788)
58,487	68,475	16,003	0	142,964

Parochial Church Council of St. John's, Churt

Independent Examiner's Report

For the Year Ending 31st December 2020

I report on the accounts for the year ended 31st December 2020 which are set out on pages 1 to 7.

Respective Responsibilities of the Trustees and Independent Examiner

The Charities Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is sufficient.

It is my responsibility to:

examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the General Directions given by the Charity Commissioners in section 145(5)(b) of the 2011 Act;
state whether particular matters have come to my attention.

Basis of Independent Examiner's Statement

My examination was carried out in accordance with the General Directions given by the Charity Commission.

That 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 the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts.

Independent Examiner's Statement

In connection with my examination, no matters have come to my attention:

1) which give 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; or - to prepare accounts which accord with the accounting records have not been met; or
2) which, in my opinion, attention should be drawn to in order to enable a proper understanding of the accounts to be reached.

Sarah Honeybell 120 Reading Road Farnborough HANTS GU14 6NY 27th April 2021