## **ST. FRANCIS OF ASSISI, TERRIERS ANNUAL REPORT AND ACCOUNTS OF THE PAROCHIAL CHURCH COUNCIL FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** |**CONTENTS**|| |---|---| ||**Page**| |Annual Report of the Trustees (Parochial Church Council)|1 to 6| |Independent Examiner's Report|7| |Statement of Financial Activities (SOFA)|8| |Balance Sheet|9| |Notes to the Accounts|10 to 17| page 1 ## **PAROCHIAL CHURCH COUNCIL OF ST FRANCIS OF ASSISI, TERRIERS** ## ANNUAL REPORT for 2021 ## **AIM AND PURPOSES** The Parochial Church Council (PCC) of the parish of St Francis of Assisi, Terriers has the responsibility of co- operating with the incumbent, the Reverend Joanna Gallant, in promoting, in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social, and ecumenical. The PCC is also specifically responsible for the maintenance of the church building and church hall of St Francis of Assisi, Terriers, High Wycombe. ## **OBJECTIVES AND ACTIVITIES** The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Francis of Assisi. The PCC maintains an overview of worship throughout the parish. Our services and worship put faith into practice through prayer and scripture, music, and sacrament. When planning our activities for the year, the incumbent and the PCC have considered the Charity Commission's guidance on public benefit and, the specific guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of our parish community through: - Worship and prayer; learning about the Gospel; and developing their knowledge of and trust in Jesus Christ. - Provision of pastoral care for people living in the parish. - Missionary and outreach work. - Support for organisations locally, nationally, and internationally whose aims reflect ours. To facilitate this work, it is important that we maintain the fabric of the Church of St Francis and of the Church Hall. ## **ACHIEVEMENTS AND PERFORMANCE** ## _**WORSHIP AND PRAYER**_ The PCC seeks to offer a range of services during the week and over the course of the year that the church community and our many visitors find both beneficial and spiritually fulfilling. Due to the coronavirus pandemic the church building was once again closed for the first 5 months of the year, but we continued to engage with individuals and families, both those connected to our church and within the wider community, through the streaming of online Sunday services, Festivals, and Messy Church from the vicarage, until the church re-opened at Pentecost 2021. Our online worship continued to be enhanced by the musical contribution of our organist, Tessa Shaw, who until the return to church, recorded music each week for the online services. Church members and families also continued to record readings and intercessions each week, with sermons recorded by members of the worship team, and Nick Gallant collated, edited, and provided the technical support on a weekly basis. In addition to this both established members of the congregation and those on the fringe received regular pastoral letters, service booklets and prayer resources. During Lent and Advent a small group met weekly on Zoom for discussion, bible reading, and prayer and resources were sent out to others in the congregation. page 2 For Holy Week and Easter a large Easter Garden and cross was erected outside the church which drew many visitors and Messy Church painted stones to decorate it. Easter services were live streamed with the sacrament administered outside the church for those who had joined online or said the service at home. Once the church building re-opened, in person Holy Communion services were provided at 8am and 10am on Sundays with a small choir, and 10.30 am on Wednesdays. Peter Gee and Nick Gallant ensured that services continued to be streamed once back in church, which has enabled all those who are unable to attend ‘in person’ worship, to continue to join the services. A Requiem Eucharist to remember all those lost during the pandemic and before was held during the main Sunday service this year, and it was a joy for the Nine Lessons and Carols to return to church, with musical contribution and readings from all ages, with the choir attracting some new members. The Christingle and Nativity service were combined on Christmas Eve and attracted new families, and the large wooden nativity scene was once again erected outside the church which drew many visitors from all ages across the community, and once again the feedback was extremely positive. St Francis welcomes all to attend our regular services both in church and online. Following the renewal of the Church Electoral Roll in 2021 a total of 58 parishioners was reported, 19 of whom were not resident within the parish. The Sunday in person attendance, as counted during October 2021, averaged 39 adults and 1 child. (Because of the disruption caused by the COVID-19 pandemic, churches were not asked to report their usual Sunday attendance for 2020 or 2021). In addition to our regular services, we usually enable our community to celebrate and thank God at significant landmarks on the journey through life. In marriage, vows are publicly exchanged, and God's blessing is proclaimed, and funeral services provide an opportunity for friends and family to express their grief and give thanks for the life which is now complete in this world and to commend the person into God's keeping. Despite the church being closed with the pandemic for the early part of the year we welcomed one adult and one child for baptism, there were no weddings and the vicar officiated at funeral services at the crematorium and graveside. As a church we acknowledge with sadness the death of a number of faithful church members. ## _**DEANERY SYNOD**_ Mary Amer and Nick Gallant of the PCC currently sit on the deanery synod. This provides the PCC with an important link between the parish and the structures of the wider church, Nick Gallant was elected to the Deanery Mission and Pastoral Committee and our vicar supports the wellbeing of deanery clergy and lay ministers. ## _**THE CHURCH AND CHURCH HALL**_ Use of the church hall has been impacted significantly by the pandemic and successive lockdowns, and the PCC is grateful to Volunteer Hall Administrator Irene Hasan for the time and attention she has given to enabling bookings for a broad range of community groups to begin again, and for keeping the hall clean and tidy. Use of the church building has also been affected by the pandemic and the unreliable heating system which needs replacing, and plans to install a new boiler, toilets, kitchen area and level access are now moving forward, so that the building can provide a place for the whole community to gather together, with much needed accessible facilities, for both the worshipping community and other groups who use the church, and we are thankful for the experience and support of Mick Relf in this respect. page 3 ## _**PASTORAL CARE**_ We are grateful to all those who support the vicar in the pastoral ministry of the church and the congregation continue to care for one another, neighbours and friends through telephone calls and practical support. Now that restrictions have been relaxed visiting the sick and housebound members of the congregation to provide pastoral care and administer home communion has resumed. The vicar and lay people from the parish continue to support the Butterfly Hospice. ## _**MISSION AND EVANGELISM**_ St Francis vision to be a ‘Beacon of Hope, Community of Love and Well of Refreshment’ for all the community will be achieved through improved facilities in the hall and church buildings, the community garden and wellbeing café, and the fundraising project was launched in October with the vicar’s sponsored walk along the 153-mile Pilgrims Way from Winchester Cathedral to Canterbury Cathedral. We continue to engage with the local community, wider Church and the world with the vicar continuing to build relationships with Highworth Combined School, providing supervision for staff, and responding to pastoral and social concerns where possible, and St Francis established the Harvest Fund to support families and individuals who were in need of emergency food supplies and essential items. Following the significant financial challenges St Francis had faced during the pandemic the PCC agreed that the annual Lent Project for 2021 would support the ongoing mission of St Francis and Nick Gallant hosted an online Lent Quiz which attracted a number of new folks from across the community. In august Lyn Gooch organised a successful Tabletop sale which also invited local stall holders and the Harvest Quiz, hosted by the wardens, and this year’s Lent quiz hosted by Liz Helps and Mary Amer, Chris Bradbury and her team drew in others from across the community and raised funds for the building project. Having been unable to gather in person in October 2020 to celebrate the 90[th] Anniversary of St Francis Dedication, a 90+1 Celebration service was held followed by a superb Parish lunch provided by Liz Helps and her team. In response to suicides and attempted suicides with the local community and church, in November the PCC invited the organisation Papyrus to run a suicide awareness evening, which was attended by staff from the Royal Grammar School, Highworth Combined School, church members and parents in the community. All those who attended found it informative and felt better equipped. In December Lyn Gooch organised an Advent Fayre and Crib Festival attracting local stall holders and the social committee provided lunches. The event attracted people from across the community and was a lovely start to the Advent season. In addition to this Liz Helps and Sarah Howse organised a fun and creative Christmas wreath making evening which attracted new people. The church continues to support Wycombe Homeless Connection with the vicar leading prayer meetings and Nick Gallant providing supervision for the charities support workers. The parish website remains a valuable source of information about parish life, and in line with the vision planning for St Francis, we hope that the website and social media will be refreshed and rebranded in the coming year. The "Friends of St Francis" Facebook group continues to connect folks and the daily prayer reflections provided by Lyn Gooch LLM and Sally Brocklehurst are much appreciated. It is also a useful channel for publicising St Francis’ services and events. page 4 ## _**ECUMENICAL AND INTER-FAITH RELATIONSHIPS**_ The church is a member of Churches Together in East Wycombe (CTEW), Churches Together in Buckinghamshire and Wycombe Sharing of Faiths. Members of the congregation at St Francis also work with Christians of other traditions in our support for Wycombe Homeless Connection and One Can Trust. Church leaders meet occasionally for fellowship and mutual encouragement. ## _**KNIT & NATTER GROUP**_ Following Covid restrictions, the Knit and Natter group started back again in August 2021 and in a new venue, the church hall. The group previously consisted of predominately church members but, following the move to the hall, soon attracted people from outside our church family and numbers have almost doubled from eight to fourteen to sixteen people per week. In the hall the group is able to offer tea and coffee easily and raised £50 to donate to the Vicar’s pilgrimage and to have a very sociable Christmas buffet lunch. The group meets on Wednesday mornings throughout the year from 11.00 till 1.00. We don’t just knit, some members crochet, cross stitch, quilt and sew and everyone is welcome. Doesn’t matter whether you are a beginner or advanced level, we are all happy to assist anyone with their project. Should you wish to just come for a natter, that is fine too. ## _**WALKER'S UNITE(D)**_ The walking group continues to go from strength to strength with fourteen to sixteen people and one dog walking regularly. We usually walk on the first Saturday of each month, apart from December and January, when we take a break, and September, when we take part in the Bucks Historic Churches Walk on the second Saturday. Thanks must go to Eleanor who takes responsibility for all the paperwork involved, and to the generosity of the congregation, who this year sponsored us to the grand sum of £330, of which £192 was returned to St Francis. Hazel and Mike Noakes organised a lovely Christmas Lunch for us at the Hit or Miss in Penn Street which, despite the worry of Covid restrictions, was thoroughly enjoyed by sixteen of us. We must also thank Colin Banks who each month plans a reasonably flat (and, mostly, not too muddy) walk and finds a pub to which we repair for a most convivial lunch at the end of the walk. Everyone is most welcome to join us - we do not walk too fast nor too far (about 5 miles), nor if the weather is too inclement. The scenery is beautiful and the company really friendly. ## _**COMMUNITY GARDEN**_ Since the lifting of lockdown restrictions we have been able to make a lot of progress with the community garden which is now officially named “Terriers Community Garden”. Our fundraising and generous support from members of the congregation, the Roland Callingham Foundation (Bekonscot) and the John Lewis Partnership have enabled us to have the garden area cleared and flattened. The shed from the old vicarage has been moved and erected at the end of the Garden and we have constructed a number of raised beds. These were filled with compost and topsoil and left to over-winter ready for next year’s planting. We enjoyed the help of some volunteers from the John Lewis Partnership in laying chipping paths and planting up some bulbs ready for a spring display of flowers. Special mention and thanks must be made to Valerie Stringer – Queen of getting freebies and items at reduced prices from garden centres, shops, and supermarkets! She has helped with planning the plot and co-ordinating help and has given hours of her time to working to get the garden ready. We were able to have some tomatoes and lettuce leaves ready in time for Harvest Festival. We are looking forward to getting the community involved next year and will be applying for further funding as opportunities present themselves. ## **FINANCIAL REVIEW** With the impact of the coronavirus pandemic, this has been a challenging year for us, as for all charities. Our main source of income has remained voluntary giving with £22,361 from Stewardship, £619 from collections and £5,407 from tax refunds on both Stewardship and collections under the Gift Aid scheme. page 5 We also received £13,500 rent from the “Everything Everywhere” and “Hutchison 3G” telecoms companies for a mobile phone base station installation in our bell tower. We received dividends from two investments: £1,203 from the H F Field Trust and £2,219 from the St Andrews Trust. By the end of the year, our new Church Development Fund had reached £6,347. Our congregation also donated £1,191 (including Gift Aid) for a Harvest Community Fund to support families and individuals in need of emergency food supplies and essential items, and £170 for other charities. Our remaining income is usually from the rental of our church hall to local groups, and from fees from weddings and funerals. Both of these continued to be significantly reduced because of the pandemic. Our outgoings were £66,838, to provide the Christian ministry from St Francis of Assisi within Terriers. Our ‘parish share’ contribution to the Diocesan funds, which, as well as paying the administrative costs of the Diocese, provides the stipends and housing for the clergy, was £37,142. The net result for the year, excluding the charities fund, Community Garden, Harvest Community Fund and donations to the Hugh Brocklehurst Fund was a deficit of expenditure over income of £6,311. As at 31 December 2021, we had net assets totalling £204,248, of which £134,838 were endowment investments and £35,609 restricted funds, leaving £1,534 unrestricted funds, and £32,267 designated for special church needs. ## **VOLUNTEERS** We would like to thank all the volunteers who work so hard to make our church a safe and welcoming community; in particular, our churchwardens, Lakshan Wanigasooriya and Peter Gee, and assistant wardens Janet Banks and Valerie Stringer, who despite the many challenges faced this year have provided practical and steadfast support in their ministry to both the church and vicar. We are grateful to Liz Helps in her role as church treasurer, and for Peter Gee’s support during the transition of that role. We also value the role of the other members of the Parochial Church Council who have faithfully served with humour and vision, and we wish to acknowledge the continued commitment of our worship team Lyn Gooch LLM, Revd Hilary Jones, Tessa Shaw, Mary Amer and Nick Gallant; our sacristan Mary Phipps and hall administrator Irene Hasan; musicians, readers and intercessors whose gifts, creativity and generosity enhance the regular worship; and we are mindful of servers, sidespeople and those who usually provide hospitality each Sunday and on special occasions during the year, whose ministry has been put on hold. We are thankful for all who have continued to keep the church grounds tidy on a regular basis, and Sarah Wanigasooriya for her active commitment to ensuring the safeguarding of all who serve and engage with the church. We also thank the Messy Church Team for their ongoing commitment to the young people, providing resources during another difficult year. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The method of appointment of PCC members is set out in the Church Representation Rules. At St Francis of Assisi the membership of the PCC consists of the incumbent (our vicar), churchwardens, and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services/members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including deciding on how the funds of the PCC are to be spent. The PCC met six times during the year. Given its wide responsibilities, the PCC has a number of task groups, each one dealing with a particular aspect of parish life. These groups which include worship and mission, communications, finance, pastoral and social, hall, building and grounds, are all responsible to the PCC and report back to it with reports of their deliberations being received by the full PCC and discussed as necessary. page 6 ADMINISTRATIVE INFORMATION The Church of St Francis of Assisi is situated in Amersham Road. Terriers. High Wycombe. It is part of the Diocese of Oxford within the Church of England. The correspondence address is St Francis, Amersham Road, Terriers. High Wycombe HP13 SAB. The PCC is a body corporate IPCC Powers Measure 1956. Church Representation Rules 20111 and a charity registered wfth the Charity Commission {registration number: 11550351. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 Iduty to have regard to House of Bishops, guidance on safeguarding children and vulnerable adult51. PCC members who have served from l January2021 until the date this report was approved are: Incumbent.. The Revd Joanna Gallant (Chairl Churchworden5.' Mr Lakshan Wanigasooriya Mr Peter Gee (from October 20201 (Lay Chair from July 2021) Deanery Synod Representatives.. Mrs Mary Amer Mr Nick Gallant (until July 20241 {until October 2023} Elerted members.. Mrs sally Brocklehurst Mrs Janet Banks Mrs Christine Bradbury Mrs Irena Lowe Mrs Hazel Noakes Mr Michael Relf Mrs Liz Helps Mrs Valerie Stringer {from APCM 2020- Secretary) {until APCM 20221 (until APCM 20221 (until APCM 20221 (until APCM 20221 (until APCM 20221 (from APCM 2021- Treasurer) (from APCM 20201 Ex-officio members Revd Hilary Jones Mrs Lyn Gooch LLM (from APCM 2021} (from APCM 20201 Approved by the PCC on 1st May 2022 and signed on their behalf by Revd Joanna Gallant ST. FRANCIS OF ASSISI, TERIUERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021 Pa8e 7 11¥41)EPENDEN4T EXAMITr4ER'S REPORT TO THE PAROCHIAL CHIIRCH COUNC.IL OFST FRAP*CIS OF ASSISI CHLIRCH. TERRIERS I report on the ac£ouThts of the church for the year eTMl¢d ilst tk¢ember 2021. %thich are sd out on pages 8 10 17. Respective Re5poDsibilTrtie5 of Trustees (PCC) and lttdtpelldtJi Examiner The church's trustee5, The PCC. IParo¢hial Church Council), are responsible for the preparaiion ofthe accounts. The PC.C consider thai an audit is not required for this )'ear under s¢ctton 144(2) of the C.haritie5 Act 2011 (the 2011 Act) and an IndeP￿mIent ¢xaminaiion is needed. It is my responsibility to examine the accounts under s￿tIOn 145 of the Charities Act= follow the procedures laid down in the General DÈTe¢iions given by the Charity Cornrnissioners under section 14515}Ib} of the ?01 l Act; and - state whether particular mauers have COTne to my attenti¢)n. Basls of Independ¢￿t EXa￿]ner'S Rewbrt M). examination was Carried out in accordance with the General Direciions ￿Ven by the Chart CoTMmission under section 145(5Mb) of the Act to be found in th¢ guidance from ihe Church Board of Finance. That examin￿10￿ includes a review of the accouniifto records kepi by the Parochial c.hurch Council and a comparEson of the accounts wirh those re£ords. Il also includes ¢0•5ideTincy any unusual items or dis¢lostsres in the accounts and seeking explan*ions from the tDtstees IPCCI conc£rning any such matters. The procedures undenaken do noi pro7gide all the evidence that ￿'OUld be required in an audit and consequentl). no opinion is 8iTr'en as to wlKther the accounts present a'true and fair" view, and the report is limiied kn those matters srt out kn the sth*menL below. Independent Exxminerf$ StatemeDt Tn conneciion with TTEV exarntnation, no m￿erial matt¢r5 have come to mv attention which give me cause to believe thai io. an). material respe￿.. the accountintt records were not kept in a￿ordanCe with secti(x) IJO ofthe Charities Ae( or Ihe accounts did not accord with the accounting re¢ords. or the acctsunts did not comply with the applicable requirenients concerning the tomi and content of accounts sei out in the Charili¢s (Accounts and Rep)rtsl Regulali0￿ 2008 other than any Tequirernent that the a¢co￿nts give a 'true and fair" i'iew whi¢h is not a mauer considered part of an independent examinatio I have come across no other maiters in connection with tlK examination lo which attention should be drawn in this in order to ¢nable a prow understsnding of the accounts to be reached. 5th May 2022 C A Wylot Accoiintancp, Tarali(frn & BILEines5 tkn'elopRnenf.lervic Paje House, 164 West W>'combe Road Hig7h Wycotnbe Buck5 HP12 3AE page 8 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **STATEMENT OF FINANCIAL ACTIVITIES** |**Note**
**Incoming Resources**
Income and endowments from:
Donations and legacies
**3**
Charitable Activities
**3**
Other trading activities
**3**
Investment income
**3**
Other income
**3**
**Total Income**
**Resources Expended**
Expenditure on:
Raising funds
**4**
Charitable activities
**4**
Other trading activities
**4**
Governance costs
**4**
Support costs
**4**
Other
**4**
**Total Expenditure**
**Net Income / (Expenditure) before**
**investment gains / (losses)**
Gains / (Losses) on Investments
**6**
Transfer between Funds
**Net Movement in Funds**
Total Funds brought forward
**Total Funds carried forward**|Unrestricted
Unrestricted
Restricted
Endowment
**Total Funds**
**Total Funds**
(General)
(Designated)
Funds
Funds
**2021**
**2020**
£
£
£
£
£
£
29,895
8,047
1,311
0
39,253
62,918
1,399
0
430
0
1,829
2,084
5,369
0
0
0
5,369
8,741
0
2,219
1,203
0
3,422
3,304
13,500
0
0
0
13,500
13,500| |---|---| ||**50,163**
**10,266**
**2,944**
**0**
**63,373**
**90,547**| ||0
0
0
0
0
132
48,249
6,152
1,203
0
55,604
55,437
3,933
0
0
0
3,933
10,781
4,172
0
0
0
4,172
4,220
0
0
0
0
0
0
120
2,350
659
0
3,129
1,727| ||**56,474**
**8,502**
**1,862**
**0**
**66,838**
**72,297**| ||| ||**(6,311)**
**1,764**
**1,082**
**0**
**(3,465)**
**18,250**| ||0
0
0
17,026
17,026
7,439
0
0
0
0
0
0| ||**(6,311)**
**1,764**
**1,082**
**17,026**
**13,561**
**25,689**| ||7,845
30,503
34,527
117,812
190,687
164,998| ||**1,534**
**32,267**
**35,609**
**134,838**
**204,248**
**190,687**| page 9 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** |**BALANCE SHEET**||Unrestricted|Unrestricted|Restricted|Endowment|**Total Funds**|**Total Funds**| |---|---|---|---|---|---|---|---| ||**Note**|(General)|(Designated)|Funds|Funds|**2021**|**2020**| |||£|£|£||£|£| |**Fixed assets**|||||||| |Tangible assets|**22**|1,378|0|0|0|1,378|2,757| |||1,378|0|0|0|1,378|2,757| |**Current Assets**|||||||| |Investments|**6**|0|0|0|134,838|134,838|117,812| |Cash at bank||1,356|32,267|35,609|0|69,232|71,762| |Debtors & Prepaid costs|**23**|0|0|0|0|0|275| |||1,356|32,267|35,609|134,838|204,070|189,849| |**Creditors: due within one year**|||||||| |Accruals||1,200|0|0|0|1,200|1,919| |**Net Current Assets**||156|32,267|35,609|134,838|202,870|187,930| |**Total Net Assets**||**1,534**|**32,267**|**35,609**|**134,838**|**204,248**|**190,687**| |**Represented by:**|||||||| |Endowment Funds|**19,20**|0|0|0|134,838|134,838|117,812| |Restricted Funds|**12,13,14,15**|0|0|35,609|0|35,609|34,527| |Unrestricted Funds|**9,10,11,16,17**|1,534|32,267|0|0|33,801|38,348| |||**1,534**|**32,267**|**35,609**|**134,838**|**204,248**|**190,687**| Approved by the Parochial Church Council on 1st May 2022 and signed on its behalf by: Chairman Revd Joanna Gallant PCC Member Elizabeth Helps page 10 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** ## **1 BASIS OF PREPARATION** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The accounts have been prepared in accordance with the 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 with the Charities Act 2011. The accounts have been prepared on the accruals basis. The charity constitutes a public benefit entity as defined by FRS 102. ## **2 ACCOUNTING POLICIES** ## **Income** Income is included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to those resources and when the amount can be measured with sufficient reliability. There has been no offsetting of assets and liabilities, or income and expenditure unless permitted or required by the FRS 102 SORP or FRS 102. Grants and donations are included within the SOFA when the general income recognition criteria are met. Tax reclaimed on donations and gifts is included in income when there is a valid declaration from the donor. Any gift aid recovered on a donation is considered to be part of that gift and is treated as an addition to that same fund as the initial donation unless specified otherwise by the donor. Rental income from letting of the Church and Church Hall is recognised when it falls due. Income from dividends is included in the accounts when declared and paid. Investment gains and losses includes any realised gains or losses arising on the sale of investments, and any gains or losses arising from revaluing investments to market value at the end of the financial year. The charity has incurred expenditure on support costs. ## **Expenditure and liabilities** Liabilities are recognised when there is a legal or constructive obligation committing the charity to pay out resources, and the amount can be measured with reasonable certainty. Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions. Creditors and accruals are included in the accounts at settlement amounts less any discounts. ## **Assets** Tangible fixed assets for use by the charity are capitalised in the balance sheet if they can be used for more than one year and cost at least £250. The assets are included at cost and then depreciated at a rate of 25% per annum over 4 years. The charity has current asset investments held with the Church Board of Finance. The investments are held as perpetual endowments and are stated in the accounts at their fair market values. Any surpluses or deficits arising on the revaluation of assets during the year, are included within the SOFA as a credit to or charge against the relevant funds. page 11 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** |**3 **|**ANALYSIS OF INCOME**|||Unrestricted|Unrestricted|Restricted|**Total Funds**|**Total Funds**| |---|---|---|---|---|---|---|---|---| ||||**Note**|(General)|(Designated)|Funds|**2021**|**2020**| |||||£|£|£|£|£| ||**Donations and legacies:**|||||||| ||Tax efficient & other planned giving|||22,361|0|0|22,361|21,381| ||Collections - Other Services|||619|0|0|619|1,800| ||Other donations|**9,10,11,12,14,15,16**||1,508|8,047|1,356|10,911|28,150| ||Gift aid on planned giving & collections|||5,407|0|0|5,407|5,081| ||Charities Fund donations||**13**|0|0|170|170|1,155| ||Tax recovered on Charities Fund donations||**13**|0|0|0|0|345| ||Tax recovered adjustment on Charities Fund||**13**|0|0|(215)|(215)|0| ||Grants received||**9**|0|0|0|0|0| ||Bequests and legacies||**17,21**|0|0|0|0|5,006| |||||29,895|8,047|1,311|39,253|62,918| ||**Charitable activities:**|||||||| ||Magazine sales|||0|0|0|0|0| ||Traidcraft stall income|||0|0|0|0|51| ||Bookstall Income & calendars||**14**|10|0|430|440|742| ||Catering income|||4|0|0|4|135| ||Visiting clergy fees recovered|||0|0|0|0|0| ||LPOW scheme VAT refunds||**14**|0|0|0|0|0| ||LPOW scheme VAT refunds|||0|0|0|0|918| ||Miscellaneous|||1,385|0|0|1,385|238| |||||1,399|0|430|1,829|2,084| ||**Other trading activities:**|||||||| ||Fees received - net retained|||592|0|0|592|62| ||Church lettings|||25|0|0|25|245| ||Receipts from hall||**7**|4,752|0|0|4,752|8,434| |||||5,369|0|0|5,369|8,741| ||**Income from investments:**|||||||| ||H F Field Trust dividends||**18,19**|0|0|1,203|1,203|1,161| ||St Andrews Trust dividends||**17,20**|0|2,219|0|2,219|2,143| |||||0|2,219|1,203|3,422|3,304| ||**Other income**|||||||| ||Miscellaneous income|||0|0|0|0|0| ||Base station rent|||13,500|0|0|13,500|13,500| |||||13,500|0|0|13,500|13,500| |||||||||| ||**Total Income**|||**50,163**|**10,266**|**2,944**|**63,373**|**90,547**| page 12 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** |**4 ANALYSIS OF EXPENDITURE**
**Note**
**Expenditure on Raising funds:**
Bookstall costs
Traidcraft stall costs
**Expenditure on charitable activities:**
Parish share paid to Diocese
Other parish subscriptions
Property insurance
**17**
Heat, light and water
Quinquennial fund
Repairs, renewals & cleaning
**17**
Licences and subscriptions
Messy Church & Club Francis
Organist's expenses
Organ expenses
**14**
Choir expenses
**12**
Visiting clergy expenses
Visiting clergy fees
Upkeep of services
**11**
Catering costs
Telephone & broadband
Travel
Vicar's expenses
Verger's fees
Gifts
Sundry expenses
Parish training and mission
Cost of other events
Depreciation
**22**
**Expenditure on trading activities:**
Hall running expenses
**7**
**Governance costs:**
Independent examiner's fees
**5**
Photocopier expenses
Postage
Printing, stationery & IT costs
**Support costs:**
Church Secretary
**Other expenditure:**
Church donations
Community garden project
**9**
Charities fund donations
**13**
Harvest Community Fund donations
**15**
**Total Expenditure**|Unrestricted
Unrestricted
Restricted
**Total Funds**
**Total Funds**
(General)
(Designated)
Funds
**2021**
**2020**
£
£
£
£
£
0
0
0
59
0
0
0
73| |---|---| ||0
0
0
0
132| ||37,142
0
0
37,142
32,081
271
0
0
271
462
378
3,000
1,203
4,581
4,879
3,561
0
0
3,561
5,125
220
0
0
220
220
63
2,219
0
2,282
7,903
1,122
0
0
1,122
545
0
0
0
0
26
2,200
0
0
2,200
533
0
0
0
0
0
0
0
0
0
142
0
0
0
0
121
0
0
0
0
0
350
933
0
1,283
394
76
0
0
76
25
605
0
0
605
621
45
0
0
45
154
76
0
0
76
0
150
0
0
150
0
0
0
0
0
70
162
0
0
162
348
449
0
0
449
131
0
0
0
0
105
1,379
0
0
1,379
1,552| ||48,249
6,152
1,203
55,604
55,437| ||3,933
0
0
3,933
10,781| ||3,933
0
0
3,933
10,781| ||1,200
0
0
1,200
1,200
2,242
0
0
2,242
1,680
337
0
0
337
395
393
0
0
393
945| ||4,172
0
0
4,172
4,220| ||0
0
0
0| ||0
0
0
0
0| ||120
0
0
120
0
0
2,350
0
2,350
0
0
0
0
0
1,334
0
0
659
659
393| ||120
2,350
659
3,129
1,727| ||| ||**56,474**
**8,502**
**1,862**
**66,838**
**72,297**| page 13 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** |**5 EXAMINATION COSTS**
Fees payable to independent examiner
**6 GAINS AND LOSSES ON INVESTMENTS**
**Church of England Investment Fund - Income Shares**
2,024 shares - Field Bequest Fund
**Note 19**
3,733 shares - St Andrew's Fund
**Note 20**
**7 INCOME FROM HALL LETTINGS**
**HALL RECEIPTS AND PAYMENTS ACCOUNT**
**RECEIPTS**
Hall lettings
**Other incoming resources**
Miscellaneous income
**Total Receipts**
**PAYMENTS**
**Hall running costs**
Fire precautions
Heat, light and water
Insurance
Repairs and renewals
Cleaning
Sundry expenses
Postage and stationery
Performing rights licence
**Hall administration**
Salaries and PAYE
Telephone (office)
**Total payments**
**Surplus / (Deficit) - transferred to General Fund**|**2021**
**2020**
£
£
1,200
1,200
revaluation
**market value**
surplus / **market value**
at 1/1/21
(deficit) at 31/12/21
£
£
£
41,466
5,932
47,398
76,346
11,094
87,440|**2020**
£
1,200| |---|---|---| ||117,812
17,026
134,838|| ||**2021**
£
4,485
4,485
267
267
**4,752**
0
2,023
1,080
277
0
37
28
0
3,445
0
488
488
**3,933**
**819**|**2020**
£
8,434| |||8,434| |||0| |||0| |||**8,434**| |||645
2,290
1,080
4,955
1,289
224
0
0| |||10,483| |||0
298| |||298| |||**10,781**| |||**(2,347)**| page 14 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** |**8 **|**STAFF COSTS**||| |---|---|---|---| |||**2021**|**2020**| |||£|£| ||Salaries and wages
Church Secretary|0|0| ||Hall administration|0|0| |||0|0| |**9 **|**COMMUNITY GARDEN PROJECT FUND**||| |||**2021**|**2020**| ||Balance at 1st January 2021|2,050|2,000| ||Donations received|1,700|50| ||Expenditure|(2,350)|0| ||Balance at 31st December 2021|1,400|2,050| |**10 **|**CHURCH HEATING FUND**||| |||**2021**|**2020**| ||Balance at 1st January 2021|1,000|0| ||Donations received|0|1,000| ||Expenditure|0|0| ||Balance at 31st December 2021|1,000|1,000| |**11 **|**SPIRITUALITY RESOURCES FUND**||| |||**2021**|**2020**| ||Balance at 1st January 2021|2,453|0| ||Donations received|0|2,453| ||Expenditure - to General Fund purchase of streaming equipment|(933)|0| ||Balance at 31st December 2021|1,520|2,453| |**12 **|**CHOIR FUND (Restricted)**||| ||This fund has been established from donations received and may be used only for the purpose stated.||| |||**2021**|**2020**| |||£|£| ||Balance at 1st January 2021|312|454| ||Fees received - net retained|0|0| ||Transfer to General Fund - choir expenses in year|0|(142)| ||Balance at 31st December 2021|312|312| page 15 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** |**13 **
**14 **|**CHARITIES FUND (Restricted)**
Balance at 1st January 2021
**Receipts**
**Gift Aid tax refunds Adjustment**
**re previous year**
**Donations**
Bucks Historic Churches Trust
Womens' Aid
**Payments**
Balance at 31st December 2021
**H BROCKLEHURST FUND (Restricted)**
Balance at 1st January 2021
Receipts in year
donations
Receipts in year
income from book & calendar sales
Receipts in year
refund of VAT on organ repairs
Payments in year
cost of printing above calendars
Transfer to General Fund - organ expenses in year
Balance at 31st December 2021|**2021**
**2020**
£
£
851
685
0
345
(215)
20
150
170
1,155
0
0
0
0
(1,334)
806
851
**2021**
**2020**
£
£
32,682
12,120
165
20,025
430
665
0
0
0
(128)
0
0
33,277
32,682| |---|---|---| This is a memorial fund set up in the name of Hugh Brocklehurst to maintain and develop the musical life of the church with special concern for the organ. In accordance with a resolution passed by the PCC in 2017 the balance of the original Organ Fund has been transferred to, and incorporated within, the Hugh Brocklehurst Fund, both funds having the same aims. |**15 HARVEST COMMUNITY FUND (Restricted)**
Balance at 1st January 2021
Receipts in year inc gift aid
Payments in year
Balance at 31st December 2021|**2021**
**2020**
£
£
682
0
1,191
1,075
(659)
(393)
1,214
682| |---|---| The Harvest Community Fund is a restricted fund, to be used to support families and individuals who are in need of emergency food supplies and essential items. page 16 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** |**16 CHURCH DEVELOPMENT FUND**
Balance at 1st January 2021
Receipts in year
Payments in year
Balance at 31st December 2021|**2021**
**2020**
£
£
0
0
6,347
0
0
0
6,347
0| |---|---| ## **17 DESIGNATED FUNDS FOR SPECIAL CHURCH NEEDS** |Balance at 1st January 2021
St. Andrew's Fund income
Bequests received
Less: Expenditure to General Fund
Balance at 31st December 2021
**18 H.F. FIELD BEQUEST**
Receipts paid into General Fund|St Andrews
J Dowsett
P Beniston
Jean Smith
**2021**
**2020**
fund
bequest
bequest
bequest
**Total**
**Total**
£
£
£
£
£
£
0
2,500
21,500
1,000
25,000
30,000
2,219
0
0
0
2,219
2,143
0
0
0
0
0
0
(2,219)
0
(3,000)
0
(5,219)
(7,143)| |---|---| ||0
2,500
18,500
1,000
22,000
25,000| ||**Note 19**
**Note 21**
**Note 21**
**Note 21**
**2021**
**2020**
£
£
1,203
1,161| ## **19 FIELD BEQUEST (Capital: perpetual endowment. Income: restricted use)** The capital belonging to this fund is held by the Oxford Diocesan Board of Finance, as custodian trustee. The capital must be retained as a perpetual endowment but the annual income is paid direct to the church for use in accordance with the terms of Mrs Henrietta Frances Field's will 'for the payment of insurance of the buildings and towards the salary of a caretaker and the cleaning of the said church. At 31st December 2021 the capital was invested with the Church of England Central Board of Finance in 2,024 income shares having a market value of £47,398 as compared with a market value of £41,466 at the end of the previous year. ## **20 ST. ANDREW'S FUND (Capital: perpetual endowment. Income: expendable)** The capital of this fund is a perpetual endowment arising from the sale of St. Andrew's Church, Totteridge. It is held by the Diocesan Trustees (Oxford) as custodian trustees. At 31st December 2021 the capital was invested with the Church of England Central Board of of Finance in 3,733 income shares having a market value of £87,440 as compared with a market value of £76,346 at the end of the previous year. The income from these funds is to be used for furthering the religious and other charitable work of the Church of England in the ecclesiastical parish of St. Francis, Terriers. This has been set aside in a Central Board of Finance deposit account and is a designated fund to be used at the discretion of the PCC. page 17 ## **ST. FRANCIS OF ASSISI, TERRIERS FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021** ## **NOTES TO THE ACCOUNTS** ## **21 OTHER BEQUESTS** ## **J Dowsett Bequest** The capital of this fund is to be specifically used for the improvement of catering facilities with the church. ## **P Beniston Bequest** The capital of this fund is to be specifically used for the improvement of catering facilities within the church, and will be extended to include improving toilet facilities.£3,000 was transferred to General Fund in the year to cover administrative expenses. ## **Jean Smith Bequest** The capital of this fund is to be specifically used for the improvement of catering and toilet facilities within the church. ## **22 TANGIBLE FIXED ASSETS** |**23 **|Cost or Valuation
Balance at 1st January 2021
Additions
Balance at 31st December 2021
Depreciation
Balance at 1st January 2021
Charged in year
Balance at 31st December 2021
Net Book Values
Balance at 31st December 2021
Balance at 1st January 2021
**DEBTORS AND PREPAID COSTS**
Fund gift aid||Equipment
£
12,838
0
12,838
10,081
1,379
11,460
1,378
2,757
**2021**
**2020**
£
£
0
275
0
275| |---|---|---|---| ||||| ||||| ||||| ||||| ||||| ||||| ||||| ## **24 RESERVE FUNDS POLICY** The PCC had resolved to follow current guidelines issued by the Charity Commissioners in respect of setting aside unrestricted funds in order to provide three months cover in respect of outgoings. This sum amounts to approximately £15,000 in total - £14,000 in respect of the church and £1,000 in respect of the hall. As a result of the coronavirus pandemic and subsequent lock-downs, which saw a significant reduction in income from the hall, there was a surplus on the General Fund of £1,534 at the end of the year which the PCC is addressing. Other unrestricted, but designated, funds amounted to £32,267. ## **25 CHARITABLE STATUS** The Parochial Church Council of the Ecclesiastical Parish of St Francis of Assisi, Terriers, High Wycombe, was entered on the Register of Charities on 16th December 2013 under the registered charity number 1155035.