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2020-12-31-accounts

REPORT & FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

COMPANY NO: 08824540 - CHARITY NO: 1156606

PARISH GIVING SCHEME

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2020

STATUS Parish Giving Scheme is a charitable company limited by guarantee, incorporated on 23[rd] December 2013 and registered as a charity on 17[th] March 2014. GOVERNING DOCUMENT The Company was established under a memorandum of association which sets out its objects and powers and is governed under its articles of association. COMPANY NUMBER 08824540 CHARITY NUMBER 1156606 REGISTERED OFFICE & OPERATIONAL ADDRESS 76 Kingsholm Road, Gloucester. GL1 3BD PRESIDENT The Right Reverend Rachel Treweek TRUSTEES Victoria James (Chair) Benjamin Preece Smith (resigned 26[th] November 2020) Neil Williams (resigned 26[th] November 2020) Revd David Brooke Adrian Beney Rebecca Evans Julie Dziegiels (appointed 26[th] November 2020) Phillip Blinkhorn (appointed 26[th] November 2020) Michael Eastwood (appointed 26[th] November 2020) Theo David Platt (appointed 26[th] November 2020) Revd Dr Kevin Grumball (appointed 26[th] November 2020) CHIEF EXECUTIVE OFFICER Helen Richardson (resigned 31[st] January 2021) HEAD OF OPERATIONS Helen Taylor HEAD OF IT Brendan Harris BANKERS Barclays Bank, Britannia Warehouse, The Docks, Gloucester, GL1 2EH AUDITOR Haysmacintyre, 10 Queen Street Place, London, EC4R 1AG SOLICITOR Veale Wasbrough Vizards, Narrow Quay House, Narrow Quay, Bristol BS1 4QA

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

________________

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trustees present their report and the audited financial statements for the year ended 31 December 2020. Reference and administrative information set out on page 1 forms part of this report. Parish Giving Scheme (PGS) (also referred to as The Scheme) was incorporated on 23 December 2013 and registered as a charity on 17 March 2014. Dioceses that participate in the activities of PGS are required to become members of the company.

PGS commenced independent operations on 1 November 2014. Prior to this, equivalent activities were carried out by the Gloucester Diocesan Board of Finance (GDBF) and reported within their statutory accounts. Under prior agreement on 1 November 2014 donors migrated from donating to GDBF to donating to PGS.

The PGS has a board of up to twelve Trustees. Trustees are recommended by the Board and agreed by the Members at the Annual Members Meeting (AMM). There are currently nine Trustees reflecting a range of skills pertinent to the flourishing of The Scheme and the geographical spread of The Scheme around England.

Trustees are expected to engage actively in the governance of PGS. Board meetings are held quarterly where Trustees receive regular reports on The Scheme’s development, activity and performance. The Board make strategic decisions on the operation of The Scheme, including structural and financial arrangements, the terms of business for The Scheme and approving, monitoring and reviewing development proposals.

Members of The Scheme are participating dioceses that have signed the Members Agreement and paid the subscription fee. Members meet annually at the AMM to approve new Trustees and receive the Annual Trustees Report and accounts as well as hear about the development of The Scheme.

Throughout 2020, the PGS team was led by the Chief Executive Officer, Helen Richardson, who had been in post since 1[st] January 2016. Before that Helen had been instrumental in setting up The Scheme in the Diocese of Gloucester in 2008. Helen resigned in January 2021 and a new CEO is due commence work with the PGS in June 2021.

The significant growth of 2018 resulted in an organisational review, to strengthen the organisation and develop colleagues in key areas of expertise. In November 2018 the Board formally approved the new structure which became operational in 2019 However, early in 2019 the Senior Specialist Database employee resigned, and those role requirements were shared between the other Senior roles. In 2020 following the efficient launch of the telephone Direct Debit service, two new PGS Administrators were recruited. Throughout 2020 this new structure was embedded, however the Government imposed Covid-19 pandemic restrictions combined with the significant requirements to fulfil the digital project created exceptional circumstances. In view of the pending website launch The Head of IT contracted hours were increased temporarily from the original contract of 2.5 days to 3 and again to four. The growth of the scheme continues and it is anticipated that further work regarding the structure will be required to facilitate the operational requirements of the digital platform and enable the essential delegation capacity for the senior and executive team to operate more fully in the strategic sphere of their roles.

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2020

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STRUCTURE, GOVERNANCE AND MANAGEMENT (ctd)

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2020

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OBJECTIVES

The objects of the charity are:

The Trustees continue to regard and consider the Charity Commission's general guidance on the organisation’s public benefit in the review of its aims and objectives and in planning future developments.

During 2020 the core PGS service has enabled over 3,209 parishes (an increase of 22% on 2019) to access funds from more than 54,000 donors (an increase of 20% on 2019) and the accompanying Gift Aid more quickly and efficiently than would have otherwise been the case, thereby enabling them to better fulfil their key activities of promoting the whole mission of the church throughout their parishes.

The impact of the Covid-19 pandemic was significant in all aspects of life and churches faced many challenges including financial sustainability. The Scheme proved its value to the Church of England during this time by continuing to enable committed regular giving to support the mission of the church locally. Parishes where the PGS has been well embedded as a method of giving, have been better able to sustain giving levels and meet their obligations during 2020.

Further
2020 Highlights for the PGS details on
page
New Telephone Service introduced which processed 3,077 new donations in 2020 6
Grant from Archbishop’s Council enabled the continued development of the digital platform 6
Digital Platform piloted in 2020 and full launch achieved as planned which has achieved a 26%
income growth		 6
Parish registrations increased during 2020 by 22% 6
Donor registration increased by 20% 6
Average weekly giving through PGS increased by over 50% in some Dioceses 7
Successful office move 1stMarch 2020 5

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

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ACTIVITIES

PGS’s principal activity in pursuit of its objectives is to provide the most efficient and effective way for people to financially support the activity of the Church of England locally.

This is done through a regular giving scheme which collects donations through Direct Debit and makes the donation available to be spent in a specified church/parish within 10 days. Donors can also commit to annually inflating their gifts to ensure its spending power is maintained. The diagram to the right illustrates the operation of this system during the period of this report.

Gift Aid is claimed each month on all eligible donations and is forwarded to the specified churches as soon as it is received from HMRC.

This activity has been designed to specifically support and enhance the ecclesiology of the Church of England; being one body working in and for every community in the country. The administrative costs of this activity are funded by participating Diocesan Boards of Finance who make contributions to PGS in order to enable the extension of this activity into their respective region. By the end of 2020 donations from thirty different dioceses were being processed in support of the Church’s work.

STRATEGIC REVIEW ACHIEVEMENT AND PERFORMANCE

The principal activity of PGS is the provision of a professional and cost-effective scheme to enable donors to support their local church. From the early days of its life in the Diocese of Gloucester, The Scheme was designed to be able to handle a substantial number of donors and to be usable for any parish regardless of size, or theological tradition. The simplification of parish administration is an important additional benefit, as this provides an element of future proofing to the Church’s principal income stream. In year when so many individuals and organisations very faced with unprecedented challenges as a consequence of the Covid-19 pandemic, The Scheme was able to respond positively and to ensure that it continued to support the church at this critical time and successfully fulfilled is objectives.

The Scheme had outgrown the space which had been rented from Gloucester Diocesan Board of Finance since The Scheme’s inception and the planned office move took place at the start of 2020. This meant that the team was successfully established in its new rented premises at 76 Kingsholm Road, Gloucester. GL1 3BD before the lockdown was imposed in March 2020. This move has been a significant step in the life of The Scheme, the timing of which proved critical for the ongoing provision of the service during the lockdown period.

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

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STRATEGIC REVIEW

ACHIEVEMENT AND PERFORMANCE(ctd)

In response to donor needs, a telephone service was set up early in the lockdown period which meant that new donors could set up new direct debits over the telephone as well as a postal form. Demand for this service was high. During 2020 3,077 donations were set up using this telephone Direct Debit gift service and the gifts received via this method of set up totalled over £238,000 p.a in new gifts. 97% of these gifts set up using the telephone service were monthly gifts and the average gift was £60pcm (excluding gift aid). Through the work undertaken to set up the telephone service progress was also made with the paper form meaning that can now be used in pdf format as well as a physical paper form. This has further eased the administrative burden locally both during the pandemic and longer term.

Following significant and generous investment by Archbishop’s Council (£578,600) which was secured in 2019 for work during 2020 and 2021, work was able to continue to develop the digital platform. This is a vital service to enable new gifts to be set up online and for existing gifts to be managed online by donors. Despite the lockdown and the challenges of 2020, the development work and rigorous testing continued, and the pilot phase of the platform began at the end of 2020 with five dioceses. This was a key phase which ran successfully meaning the digital platform was able to be fully launched to all member dioceses in March 2021. The response to the digital platform has been good with 1245 new donations set up online during Q1 2021 and by early May 2021 3,000 parish statement receivers and 2,500 existing donors had activated their online accounts. The three ways to set up a gift (online, telephone and form) will continue as an option for donors. This enables the PGS to be easily accessible to donors irrespective of their preferred method for setting up their gifts.

During 2020 the dioceses of Leeds, York & Southwark launched The Scheme, with the dioceses of Blackburn, Canterbury, Rochester and Norwich currently in active conversation and preparing to embark upon a pre-launch, leading towards full membership during 2021. A register of members is provided on page 27 - 29.

KEY STATISTICS : Donor Value

PGS seeks to improve the quality of experience of donating to support parish ministry, improve the effectiveness of donations by giving donors the option of maintaining their “real value” and reduce the local administrative burden on parishes. The following are some of the regularly monitored performance measures used by management:

Measure Dec-19 Dec-20 Change
Number of Donors 44,963 54,002 +20%
Number of Churches 2,634 3,209 +22%
Total forwarded to Churches in month £4.3M £5M +14%
Average Weekly Gift (Monthly Givers) £17.03 £16.79 -4%
Percentage of gifts on which Gift Aid is claimed 89.7% 88.9% -7%
Percentage of donors opting to inflate 54.5% 54.1% -2%

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2020

________________

The level of donations received through the PGS compares very favourably to the underlying level of donations in dioceses. The table below compares the level of giving through the PGS in December 2020 for dioceses with more than 1,000 donors giving through The Scheme with the average giving for givers across the dioceses.

Diocese PGS Dec-20
Total Diocese PG* (2019)
Difference
Bristol £20.62
£17.10
21%
Chelmsford £18.02
£14.60
23%
Chichester £16.12
£14.60
10%
Ely £18.58
£15.80
18%
Exeter £14.56
£12.20
19%
Gloucester £16.71
£13.60
23%
Guildford £22.10
£21.50
3%
Hereford £10.90
£8.70
25%
Leicester £16.41
£10.80
52%
Liverpool £15.43
£11.40
35%
London £22.03
£25.20
-13%
Oxford £19.47
£17.60
11%
Peterborough £15.81
£11.50
37%
Portsmouth £17.56
£12.80
37%
St Albans £17.89
£15.60
15%
St Edmundsbury & Ipswich
£16.16
£10.30
57%
Salisbury £15.98
£11.30
41%
Truro £14.64
£10.00
46%
Winchester £19.89
£16.00
24%

*PG: Average weekly gift from Planned Givers across the whole diocese.

The higher value of donations to PGS cannot be attributed solely to the introduction of the PGS as we do not know the level of giving for these individuals prior to joining. We do however have many testimonials of parishes, which have seen significant increases when they have run a good stewardship campaign alongside the introduction of the PGS.

PGS is set up to serve the entire Church family, however much donors wish to give and whether or not Gift Aid can be claimed on their giving. The lowest monthly donation handled is £1, the highest is over £2,000. Both donors receive the same high-quality materials and service.

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2020

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GROWTH AND FUTURE PLANS

2020 was the tenth year of the PGS serving parishes and donors across the Church. The growth shown has been enabled by both growing within existing areas of operation and moving into new dioceses and parishes.

In 2020, the PGS exceeded its forecasted figure for the number of donations processed and the total forwarded to parishes exceeded by almost £2m.

The Trustees expect that the income of the Charity in 2021 will again see substantial growth. This is expected to come from:

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

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DIOCESAN ROLLOUT

PGS was established to serve the Church and understands the importance of the unity of the Body of the Risen Christ. In its operation it therefore actively seeks to enhance the common purpose of the Church and its structures.

The growth of PGS and its resourcing occurs through the Anglican diocesan structure. Diocesan Boards of Finance (DBFs) are invited to support the roll-out of PGS to parishes within their diocese. In committing to support PGS, DBFs agree to become a member of the company, pay an initial diocesan membership contribution to PGS to provide operational reserves and make a grant to PGS to cover ongoing service contributions to cover the overhead costs of operating within the diocese. This approach ensures the PGS has the formal support of the Diocesan authority and is effectively supported by DBF staff. It is therefore positioned as a service provided by DBFs in support of parishes and is seen as a prime example of DBF support for the local church.

Diocesan engagement with PGS as at 31[st] December 2020 was as follows:

By the end of 2021 the PGS will serve over three quarters of the mainland UK dioceses (34). We are aware of one other diocese that is considering joining The Scheme within the next eighteen months.

FUNDRAISING STANDARDS

The Charities Act 2011, as amended by the Charities (Protection and Social Investment) Act 2016, requires charities to publish information about fund-raising standards. The Parish Giving Scheme does not itself carry out fund-raising activity and therefore has nothing to report.

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2020

________________

PGS seeks to be an excellent model of inter-diocesan collaboration, with advisers from participating dioceses helping neighbouring colleagues, and good practice being refined from one launch to another. PGS has also adopted a disciplined testing model on initiatives, in which one or two dioceses will test out modifications to the concept, and only if successful, will they be introduced to the wider scheme.

FINANCIAL REVIEW

Most of the PGS restricted income relates to the restricted parish donations and associated Gift Aid reclaimed. For 2020, the combined donation and Gift Aid amounted to £57.06m (2019: £45.3m).

The unrestricted income for PGS mainly comprises ongoing services contributions from member Dioceses of £446k (2019: £387k) and initial contributions from member Dioceses of £40k (2019: £80k) For further details, see note 2 on page 22. Unrestricted expenditure for 2020 amounted to £589k (2019: £458k). For further details see notes 3 and 5 on pages 22 and 23).

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

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RISK MANAGEMENT

The Trustees have a risk management strategy which comprises:

The Trustees place high importance on managing reputational risk. We judge there to be two principal contributors to reputational risk - the first is systems failure which would prevent money being forwarded to parishes on time, which is managed by investing time and money maintaining systems as described above. The second element of risk is cyber-fraud, which is managed by buying in external expertise.

RESERVES POLICY

The nature of the charity’s operations in forwarding donations from donors onto parishes means that the Trustees believe it is inappropriate to solely assess the required level of reserves in terms of a certain number of months’ income or expenditure.

During 2017 the Trustees engaged in a substantial review of the reserves required by the Charity. To support the charity’s future investment in IT, the Trustees decided to expand the designated Development Fund to £200,000. By 31[st] December 2020, this designated fund had seen expenditure of £102k being allocated against it, leaving a balance of £98k at 31[st] December 2020. Beyond that, the required level of reserves is set at the maximum of £150,000 (as a contingency against identified potential issues) or six months budgeted spending on non-staff costs plus two months of staffing costs to provide cash flow contingency.

At 31[st] December 2020, general reserves amounted to £207k.

During 2021 the Trustees will be reviewing the reserves policy for PGS

COMPLAINTS POLICY

The PGS has a complaints policy and procedure and sets high standards for our staff. The Trustees are pleased to report that during 2020 no complaints were received (2019: nil).

When informal feedback is received from member dioceses or the network of giving advisers, this is considered appropriately either operationally or strategically depending on the nature of the feedback.

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PARISH GIVING SCHEME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including the net income or expenditure, for the period. In preparing those financial statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the Trustees confirms that to the best of his/her knowledge there is no information relevant to the audit of which the auditors are unaware. The Trustees also confirm that they have taken all necessary steps to ensure that they themselves are aware of all relevant audit information and that this information has been communicated to the auditors.

THE TRUSTEES

The Trustees who served during the period up to the date of this report are shown on page 1

AUDITORS

PGS intend to retender the external audit during 2021 in readiness for year-end 2021. Theo Platt

Approved by the Trustees on 13[th] May 2021 and signed on their behalf by Theo Platt

Trustee

Signed: Theo Platt

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PARISH GIVING SCHEME

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF PARISH GIVING SCHEME

________________

Opinion

We have audited the financial statements of Parish Giving Scheme for the year ended 31 December 2020 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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PARISH GIVING SCHEME

INDEPENDENT AUDITOR’S REPORT cont TO THE MEMBERS OF PARISH GIVING SCHEME

________________

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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PARISH GIVING SCHEME

INDEPENDENT AUDITOR’S REPORT cont

TO THE MEMBERS OF PARISH GIVING SCHEME

________________

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the regulatory requirements of the Charity Commission, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011, Charity SORP and payroll taxes.

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PARISH GIVING SCHEME

INDEPENDENT AUDITOR’S REPORT cont

TO THE MEMBERS OF PARISH GIVING SCHEME

________________

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to the posting of inappropriate journal entries. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Halsey (Senior Statutory Auditor). For and on behalf of Haysmacintyre LLP, Statutory Auditors, 10 Queen Street Place, London, EC4R 1AG

Date 24 May 2021

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PARISH GIVING SCHEME

Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 December 2020

_______________

Note
Income from:
Charitable activities
2
Total
Expenditure on:
Charitable activities
3
Total
Net movement in funds
Reconciliation of funds
Funds at the start of the year
Funds at the end of the year		 Restricted
Unrestricted
2020
Total
2019
Total
£’000
£’000
£’000
£’000
57,294
491
57,785
45,764
57,294
491
57,785
_45,764 _
57,294
589
57,883
45,738
57,294
589
57,883
45,738
-
(98)
(98)
26
-
403
403
377
-
305
305
403

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 10 to the financial statements.

Full comparatives for the year to 31[st] December 2019, are shown in note 11.

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PARISH GIVING SCHEME

Balance sheet As at 31 December 2020

Company number 08824540

________________

Note
Current assets
Stock
Debtors
7
Cash at bank and in hand
Creditors: amount due within one
year
8
Net assets
Reserves
Restricted funds
10
Unrestricted funds
Designated funds
10
General funds
10
Total funds		 2020
2019
£’000
£’000
26
20
124
13
286
441
436
474
(131)
(71)
305
403
-
-
98
200
207
203
305
403

Approved by the Trustees on 13[th] May 2021 and signed on their behalf by Theo Platt, Trustee

Theo Platt

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PARISH GIVING SCHEME

Statement of Cashflows Year ended 31 December 2020

_______________

2020
2019
£’000
£’000
Net cash inflow/(outflow) from operating activities (155)
48
Cash flows from investing activities
Dividends and interest received -
-
Net cash provided by/(used in) investing activities -
-
Cash flows from financing activities
Loans repaid by PGS -
-
Net cash (used in)/provided by financing activities -
-
Change in cash & cash equivalents during year (155)
48
Cash & cash equivalents at 1 January 441
393
Cash & cash equivalents at 31 December 286
441
Reconciliation of net movement in funds to net cash
inflow from operating activities		 (98)
26
Adjustments for:
(Increase) in stock (6)
(3)
(Increase)/decrease in debtors (111)
17
Increase in creditors 60
8
Net cash(outflow)/ inflow from operating activities (155)
48
Analysis of cash and cash equivalents
Cash in bank & in hand		 286
441
Total cash and cash equivalents 286
441

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PARISH GIVING SCHEME

Notes to the financial statements For the year ended 31 December 2020

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

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PARISH GIVING SCHEME

Notes to the financial statements For the year ended 31 December 2020

1. Accounting policies (continued)

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PARISH GIVING SCHEME

Notes to the financial statements For the year ended 31 December 2020

________________

2. Income from charitable activities

Ongoing monthly service contributions
from member Dioceses
Restricted donations
Gift Aid reclaimed (restricted)
Initial contributions from member
Dioceses
Grant from Archbishops Council
Other income		 Restricted Unrestricted
2020
Total
2019
Total
£’000
-
£’000
446
£’000
446
£’000
387
46,232
-
46,232
36,642
10,828
-
10,828
8,638
-
40
40
80
234
-
234
-
-
5
5
17
57,294
491
57,785
45,764

All income from ongoing service contributions from member Dioceses, initial contributions from member Dioceses and other income in 2020 and 2019 was unrestricted. The grant from Archbishops Council in 2020 relates to PGS’s digital project and is a contribution towards the development phase.

3. Expenditure on charitable activities

Grants back to parishes (restricted)
Gift aid forwarded to parishes
(restricted)
Staff costs –note 5
Governance
Website development costs
Digital project IT costs
Other costs		 Restricted
Unrestricted
2020
Total
2019
Total
£’000
46,232
£’000
-
£’000
46,232
£’000
36,642
10,828
-
10,828
8,638
-
276
276
259
-
16
16
8
-
96
96
58
234
102
336
54
-
99
99
79
57,294
589
57,883
45,738

All expenditure on staff costs, governance costs and other costs in 2020 and 2019 was unrestricted.

4. Net movement in funds

This is stated after charging:
Depreciation
Auditors remuneration - audit		 2020
Total
2019
Total
£’000
£’000
Nil
Nil
7
5
7
5

22

PARISH GIVING SCHEME

Notes to the financial statements For the year ended 31 December 2020

________________

5. Staff numbers and costs

The aggregate payroll costs for staff was as follows:

Wages and salaries
Social security costs
Employers pension contributions
* Secondment costs of CEO		 2020
2019
£’000
£’000
225
199
20
20
31
32
-
8
276
259

The average number of persons employed by the company (excluding Trustees who are all nonexecutive) are as follows:

Charitable activities No of
Employees
No of
employees
2020
2019
8.0
8.0
8.0
8.0

No employee earned more than £60,000 during the period.

Remuneration of key management personnel

Key management personnel are deemed to be those having authority and responsibility, delegated to them by the directors, for planning, directing and controlling the activities of the PGS. During 2020 the key management personnel comprised the Chief Executive Officer (Helen Richardson) and the Operations Manager (Helen Taylor). Until March 2019, the Chief Executive Officer was seconded from Gloucester Diocesan Board of Finance, transferring across to PGS with effect from April 2019. The total remuneration and pensions for these two employees amounted to £90k.

Transactions with Trustees

Two Trustees (2019: two) received reimbursement for out of pocket expenses during the period amounting to £169 (2019: £344). Five Trustees made donations of £6,913 (excluding gift aid) to PGS during the year, to financially support the Church of England in their locality.

6. Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

23

PARISH GIVING SCHEME

Notes to the financial statements For the year ended 31 December 2020

________________

7. Debtors: amounts falling due within one year

Trade debtors
Prepayments and other debtors
Accrued income – grant instalment
due from Archbishops Council
8. Creditors: amounts falling due within one year
Trade creditors
Other taxes and social security
Accruals and other creditors		 2020
2019
£’000
£’000
3
6
24
7
97
-
124
13
2020
2019
£’000
£’000
72
13
5
5
54
53
131
71

9. Analysis of net assets between funds

Net current assets
Net assets at 31 December 2020
Comparative analysis for 2019
Net current assets
Net assets at 31 December 2019		 Restricted
funds
Designated
funds
General
funds
Total
funds
2020
2020
2020
2020
£’000
£’000
£’000
£’000
-
98
207
305
-
98
207
305
Restricted
funds
Designated
funds
General
funds
Total
Funds
2019
2019
2019
2019
£’000
£’000
£’000
£’000
-
200
203
403
-
200
203
403

24

PARISH GIVING SCHEME

Notes to the financial statements For the year ended 31 December 2020

________________

10. Movement in funds

Balance at
1st January
2020		 Income Expenditure Transfers Balance at 31st
December
2020
£’000 £’000 £’000 £’000 £’000
General fund 203 491 (589) 102 207
Designated fund –
IT fund		 200 - - (102) 98
Restricted funds - 57,060 (57,060) - -
Restricted funds –
grant digitalproject		 - 234 (234) - -
Total 403 57,785 (57,883) - 305

Comparative movements for 2019

Balance at 1st
January2019		 Income Expenditure Transfers Balance at 31st
December 2019
£’000 £’000 £’000 £’000 £’000
General fund 177 484 458 - 203
Designated fund – IT
fund		 200 - - - 200
Restricted funds - 45,280 45,280 - -
Total 377 45,764 45,738 - 403

Designated fund

The IT fund was set up as a designated fund during 2016, to make a fund available to support the charity’s future investment in IT. During 2018, the Trustees decided to increase this designated fund to £200k, with £102k being utilised during 2020.

Restricted funds

These comprise:-

25

PARISH GIVING SCHEME

Notes to the financial statements For the year ended 31 December 2020

________________

11. Comparative statement of financial activity

Income from:
Charitable activities
Total
Expenditure on:
Charitable activities
Total resources expended
Net movement in funds
Reconciliation of funds
Funds at the start of the year
Funds at the end of the year		 Restricted
Unrestricted
2019
Total
£’000
£’000
£’000
45,280
484
45,764
45,280
484
45,764
45,280
458
45,738
-
26
26
-
377
377
403
403

26

PARISH GIVING SCHEME

REGISTER OF MEMBERS at 31[st] December 2020

27

PARISH GIVING SCHEME

REGISTER OF MEMBERS at 31[st] December 2020 (continued)

28

PARISH GIVING SCHEME

REGISTER OF MEMBERS at 31[st] December 2020 (continued)

29