## **St James Church Sutton** ## **Treasurer’s Report to the PCC – March 2021 For 2020 Accounts** The attached figures show the Church Accounts, for the full year to 31 December 2020, This year’s figures have been affected by two major events; the pandemic and the completion of the church extension. The pandemic meant church has been closed for a large part of the year. This has impacted on collections which have been more difficult to collect. However, many people transferred from Envelope Giving to donating directly in to the Bank Account. This has been very helpful in keeping our ‘working balance’ afloat. Both the above events have meant we have had to draw on our investments, namely from our Deposit Account. In 2020 the total expenditure was £142,041 and the total non investment income was £40,310 ( envelopes, bank transfers and cash collections). The total income, including investment interest, was £49,729.23. Overall there was a deficit of £92,312. However, £72,480 was spent on the extension this year so in real terms the working deficit = £19,832. (total cost of extension =£97,408) The loan we made to Wildboarclough is still outstanding. This is in order as no agreement was made for its repayment although it was expected to be settled when possible. ## PAGES 1 & 2 CHURCH ACCOUNT 1. As expected the overall giving through the bank, collection plate and envelope scheme has reduced this year but due to people changing to bank transfer and making sure their envelopes have been received the difference has been minimised = - £4,093. ## 2. OTHER DONATIONS In 2019 we received £24,777 and this year £4,841. The difference was due to the sale of the Vicarage for which we received £20,000 last year. The difference is therefore less than at first appears. This year we did receive a £2,000 grant from the Church of England to help towards the impact of the pandemic. Also, due to a change in the structure of the crematorium funeral service fee early in 2020, the DBF decided to award PCCs a £30 grant for administering the fees for these services 3 The bellringers will now be paid their full fee. Previously the church kept a portion. In future this line will be nil. 4. Income from weddings, funerals and monuments have reduced this year again due to the impact of the pandemic. 5. Insurance premiums for the church and church hall rose by about £1,000 as did the Parish share this year. 6. The churchyard expenditure has been reduced. Once again thanks is extended to the faithful band of volunteers. ## PAGE 3 HALL ACCOUNT Once again the pandemic has meant the hall has stood empty for much of the year. Income has been dramatically reduced to £2,251 (2019 = £10,655) expenditure has also reduced due to the diligence of the church hall committee. Expenditure =£3931 (2019= £9118). Therefore, for the first time in many years the overall outcome was a deficit of £4,768 ## PAGE 5 SPECIAL EFFORTS The closure of the church and the cessation of Sunday coffee has impacted on this fund. The coffee bags were sold so that it was not wasted and fresh coffee can be purchased when normal service resumes. ## PAGE 6 RESERVES The Reserves Account shows the effect of the increase or decrease of the value of our investments. Amazingly our Investment Account gained £19,129.52 in interest. The fluctuation in interest over the years merely reflects the turbulent times we are facing. The investments continue to be professionally managed by the management team at CCLA. The PCC has set aside funds for reserves categories 1to 5 on the same basis as last year, leaving unallocated reserves as before, namely £33,333. To do this there has been a transfer of funds from Catagory 2 Reserves - Findlow 2. ## PAGE 7 SUMMARY OF FUNDS AND ACTIVITIES This sheet provides a snapshot of our position on 31[st] December 2020. It is important to note that the Deposit fund has been reduced by £78,672. ## PAGE 8 BALANCE SHEET This provides an overall picture of our accounts. Careful financial management will continue to be needed if we are to achieve our plans for the future and ensure our legacies and gifts are used to maintain and improve our assets and support our mission and work within the community. There are a further few points I need to raise in order to conclude this report: 1 Ruth Easterbrook has supported me throughout this difficult year. Although we have had to work separately for most of the year she kept the accounts in order whilst I was away and helped count and record the envelope and cash donations. 2. Gwen Newman was able to keep the collection and envelope recordings upto date in the first quarter of the year. We shall really miss her efficiency and dedication. 3. David Potts has kindly taken on the Envelope and the Collections recordings. 4. Cath Birtwistle andGill Dinnis kindly undertook the responsibility of banking funds. Thanks go to Ruth for taking on the training for this role. 5. Pam Herring collected and banked the Church Hall lettings etc during the first quarter of the year. 6. Thanks go to the Church Wardens who have continued to support and taken on some extra tasks to ensure monies have been collected and recorded. 7. We have been fortunate that Bob Sinclair-Smith has agreed to act as our Independent Examiner again. Janet Mott Hon Treasurer March 2021 Q)ansfi ofSL James, Sutton BALANCE SHEET as at 31 December 2020 Unrestricted Funds Restricted Funds Total 2019 Current Assets Balance at Natwest Bank 11,826.54 0.00 11,826.54 30,438 Balance of the C B F Investment Account 77,682.03 11,789.32 89,471.35 168, 143 14511.85 CBF Church of England Investment Fund Income Shares 297,308.62 0.00 297,308.62 278, 179 Balance of Petty Cash in Safe on Balance Sheet Date 240.00 0.00 240.00 240 387,057.19 11,789.32 398,846.51 477,000 Funds General Unrestricted Funds 387,057.19 1,799.32 388,856.51 466,919 Choir Fund 0.00 6,767.51 6,767.51 6, 859 Youth Club (dormant) 0.00 521.29 521.29 521 Trustees (Patrons) of St James 2,701.20 2,701.20 2, 701 387,057.19 11,789.32 398,846.51 477,000 Approved by the Parochial Church Council on March 2021 and signed on its behalf by; Rev Dr John E Harries - Vicar Janet Mott- Hon Treasurer CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees/ members of St James Church, Sutton On accounts for the year ended 31 December 2020 Charity no (if any) Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 31 December 2020 Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 ( the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Independent examiner's statement Signed: Date: 16 March 2021 Name: Robert Sinclair-smith Relevant professional qualification(s) or body (if any): Address: Bollin House, Main Road Langley, Macclesfield SK11 OBU Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). IER October 2018