## **ST. MARGARET OF ANTIOCH CHURCH ST. MARGARET'S -AT- CLIFFE** 

**Registered Charity No: 1166921** 

## **ANNUAL REPORT AND FINANCIAL STATEMENTS** 

# **OF THE PAROCHIAL CHURCH COUNCIL** 

# **FOR THE YEAR ENDED 31st DECEMBER 2021** 

## **INDEX** 

Pages 1 to 3 Annual Report for 2021 Page 4 Independent Examiner's Report. Page 5 General Fund Receipts & Payments Account Page 6 Restricted Funds Receipts & Payments Account Endowment Fund Receipts & Payments Account. Statement of Assets & Liabilities Page 7. Summary of Total Receipts & Payments Pages 7 & 8. Notes to the Financial Statements. 

## **Incumbent (Appointed 17 March 2021)** 

Reverend Karen Reeves The Vicarage Sea Street St. Margaret's at Cliffe Dover. CT15 6AR 

## **Bankers** 

CAF Bank 

## **Investment Managers** 

F&C Fund Management Ltd Chelmsford CM99 2XH 

## **Independent Examiner** 

Michael P Fielding 3 Langdon Close St. Margaret's at Cliffe. Dover CT15 6AE. 

CCLA 

80 Cheapside. London EC2V 6DZ. 



## **ST. MARGARET OF ANTIOCH CHURCH ST. MARGARET'S -AT- CLIFFE** 

## **Registered Charity No: 1166921** 

## **ANNUAL REPORT FOR THE YEAR 2021** 

## **ADMINISTRATION INFORMATION.** 

The Church of St. Margaret of Antioch is situated in High Street, St. Margaret's at Cliffe in the Dover Deanery and within the Canterbury Diocese. 

The correspondence address is; The Vicarage, Sea Street, St. Margaret's at Cliffe, Dover. CT15 6AR. PCC members are either ex-officio or elected at the Annual Parochial Church Meeting according to Church Representation Rules. During the year, the following served as PCC members: 

Incumbent: The Reverend Karen Reeves (appointed 17 March 2021) The Church had been in interregnum since 16 October 2019. 

Churchwardens: Norman Liggins. Barbara Wells (Diocesan & Deanery Synod Representative). Honorary Secretary: Elaine Kingston. Elected Members: Sandy Liggins, Terry Westwater (Deanery Synod Representative), Vivienne Verren, Pam Williams, Anna Newton, Sarah Mansfield, Linda Carter (Gift Aid Secretary) and Sian Pinnock. Beata Bailey is Hon. Treasurer but not members of the PCC. 

## **STRUCTURE, GOVERNANCE & MANAGEMENT.** 

The PCC became a registered charity on 4 May 2016. 

The method of appointing PCC members is set out in the Church Representation Rules. All regular Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. The sub-committees, instituted in 1999, are directly accountable to the PCC and report to that body at PCC Meetings and with the circulation of minutes etc. where appropriate. 

The insurance cover is reviewed on an annual basis and includes  indemnity cover for all PCC members as Trustees. 

The Church's Health & Safety Manual introduced in 2005 is also reviewed annually. There is in place a Child Protection Policy. Diocesan advice has been followed and there is a Benefice Disclosure Officer and a Benefice Child Protection Co-ordinator. Statutory checks have been, and continue to be made for all Church personnel who may be in regular contact with children and vulnerable adults. They also attend courses. This policy is subject to annual review and updated to comply with regulations. The Diocese is consulted for advice. An annual review is also undertaken of any actions which may be needed to meet the requirements of Disabled Discrimination legislation. 

## **AIMS, OBJECTIVES & ACTIVITIES.** 

The St. Margaret's PCC has the responsibility of co-operating with the Incumbent in promoting within the ecclesiastical parish, and the St. Margaret's Benefice, the whole mission of the Church, pastoral, evangelical, social and ecumenical. 

The PCC is committed to enabling as many people as possible to worship at our church and the three other churches within the St. Margaret's Benefice. The PCC maintains a wide overview of worship throughout the parish with a variety of different types of service and non church-based activity. When planning church services and activities, the PCC considers the Charity Commission guidance on public benefit. This extends to both social activity and access to the Church for the wider community who share a specific interest in the unique architecture of this fine Norman church. The PCC is also responsible for the maintenance of the church fabric as a historic monument and as a worshipping church. 

## **ACHIEVEMENTS & PERFORMANCE.** 

_**Electoral Roll.** There were 82 (78 in 2019) parishioners on the Church Electoral Roll,3  of whom are not resident within the Parish._ 

_**Church Attendance.** The average weekly attendance was 45, when services were held , (2019  - 52).  This number does not include a higher level of attendances at festival and other special services . It also ignores the periods when church services were not held in the Covid 19 epidemic lockdowns._ 

_Church attendances at major festivals, i.e. Harvest, Remembrance, Christmas, Mothering Sunday and Easter Sunday, in particular, continue to suggest that the latent Christian beliefs within the local area are still very much alive and well.  Commemorative services are also well attended._ 

## **REVIEW OF THE  YEAR** 

- **a. The PCC.** The PCC met 3 times during the year with 3 meetings being cancelled as a result of Covid 19 restrictions. The practice of holding combined PCC  meetings with the other churches was suspended for the same reason.. 

- **b. The Church & Youth.** The first three months saw the Saturday Service meet as normal with a visit to Amy Temple Cottages with Reverend Polly Mason at Epiphany, Candlemas and our Lent-themed March get together. Once lockdown began, we had to rethink about how we could continue to engage with our lovely families and retain a sense of community that we have worked so hard to build. Monthly activity packs were provided in the church 



Page-l-

## **ANNUAL REPORT FOR THE YEAR 2020 (continued)** 

## **REVIEW OF THE  YEAR (continued)** 

_porch to be collected and done at home, with a variety of puzzles, craft and things to do and think about in each. We have been delighted by how well received they were, not really knowing if, on top of home-schooling , yet. more ' things to do' would be tiresome. So we followed the church calendar and put out packs each month. Seeing them disappear and come back empty was a great encouragement in difficult times, and we are thankful for the continued support of our families._ 

- _**c. Church Fabric.** There has been continuing water penetration from the tower during periods of heavy rainfall. Although the likely cause of the problem was at the base of the telecom mast, and a repair undertaken, the problem has not been completely resolved. The repair costs were met by EE, the mast owners._ 

_The second stage of the stonework repair and replacement was undertaken during the year._ 

_All major works are carried out under the supervision of our architect, Roger Lewis. He also undertakes the Quinquennial Survey, reporting to the PCC on works considered needing to be addressed within short and longer timeframes. The next survey will be due in 2023._ 

_It was expected that by the end of the year , the work on the installation of a new mast would be undertaken and that this would the ongoing water problem. But Covid 19 brought suspension of all these works._ 

- **d. Church Services.** An informal leadership team meet each month to plan the themes and 'staffing' of services as well as considering pastoral issues. During interregnum, the team included Rev Roger Broughton, Rev Richard le Rossignol, Rev Bob Coles and Rev Polly Mason, Barbara Broughton ( Reader), Anthony Hyde (Reader), 

- Barbara Wells (Churchwarden) and Doreen Stone in a pastoral capacity. The diversity of the team helps to 

- complete the link with the laity, the regular church congregation and readers of Parish News. 

During the year, services had to be suspended on account of Covid 19 restrictions, but continued when passible 

thanks to Sandy Liggins and her team who managed the social distancing and regulation compliance. 

- **e. Music.** Emma Ainsley,  Director of Music and organist, has been fundamental in giving our restricted services heart and soul, along with the talented Toby and Sally, when other music and singing had been curtailed. This past year has highlighted the importance of music, and participation in it, in our church life , and has been much missed. 

- **f. Links with the Wider Community.** The Church continues to provide a pivotal link as far as church/community relations are concerned. The production of 'Parish News' is a well received organ of communication within the Benefice. 

Direct  links with local schools, have been on hold since Reverend Diane's retirement and visits were not possible during the Covid crisis.. 

A Benefice working group organising outreach across the Benefice, and beyond, has been on hold, but is in contact. The work done in 2019 to focus support for those with dementia, and their carers, was set to come to fruition at the opening of the Dementia Café, but this coincided with the first lockdown. All plans remain in place, and the intention is to put this in place as soon as we are allowed. We continue to be in contact with Dover Outreach Centre and their invaluable work to get people out of homelessness. The Working Group is always ready to implement practical outreach. 

The support of The Dover Foodbank has grown steadily and demonstrates the recognition of the needs of those in areas of deprivation in the locality. Their services have been especially in demand this last  year. The Benefice website provides information about church activities and community, and continues to receive frequent 'traffic'. We are incredibly grateful for the work that Sandy Liggins has put in this last year , keeping everyone connected by email , sending out Anthony Hyde's Sunday services and links to Richard le Rossignol's on line services while we have been unable to meet in person. The importance of effective digital communication has been highlighted this last year and is something we will be putting more emphasis on. 

- **g. Other Church Organisations.** The wide variety of other Church organisations have struggled to continue to flourish within the Covid restrictions, but individually fulfil an important function for the people concerned. Information about their activities are shown in Parish News and the Church weekly news sheet. 

## **FINANCIAL REVIEW.** 

The total receipts and payments on the General Fund are detailed on Page 4, and of the Restricted and Designated Funds on Page 6. 

The finances of the PCC are managed by the Fabric & Finance Committee and a report is presented to each PCC meeting showing performance against budget. The performance of the investment funds is also monitored. The  deficit on the General Fund for the year was £10,746 (2020 Deficit £1,907). 

Page-2- 



## **ANNUAL REPORT FOR THE YEAR 2020 (continued)** 

## **RESERVES POLICY.** 

It is the policy to maintain a modest balance in the General Fund only, so that there is sufficient to cover a deficit arising in any year, should this occur. The Fabric Fund  is maintained at a level adequate to cover the cost of annual repair bills. Legacies, restricted to the fabric, enhance the fund balance from time to time. The PCC also holds reserves within the Contingency Fund which is unrestricted in their application. 

The PCC do not consider the reserve levels to be excessive, given the fact that it has a large Grade 1 listed church building in its care. 

## **INVESTMENT POLICY & POWERS** 

It is the policy of the PCC to invest reserves in a spread between deposit and ethical equity investment funds. The PCC has the power to make investments as it thinks fit. 

## **RISK MANAGEMENT** 

The major risks to which the PCC, as a charity, is exposed, as identified by the PCC, have been reviewed and systems are in place to mitigate these risks. The systems and procedures attached to Safeguarding and Health & Safety are reviewed at each PCC meeting. An annual review is also undertaken with insurers to amend levels of cover, as necessary. 

## **ACCOUNTING AND REPORTING RESPONSIBILITIES** 

Statement of Trustees' responsibilities 

Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for 

that period. In preparing those financial statements, the trustees are required to: 

- ~ select suitable accounting policies and then apply them consistently; 

- ~ observe the methods and principles in the Charities SORP 2015 (FRS 102) 

- ~make judgements and estimates that are reasonable and prudent; 

- ~ state whether applicable accounting standards and statements of recommended practice 

have been followed, subject to any departures disclosed and explained in the 

financial statements; and 

~prepare financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue its operational existence 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 the Charity (Accounts & Reports) Regulations 2008 and the provisions of the Church Accounting Regulations. They 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. 

## **Approved by the PCC on .** 

## **Karen Reeves. Chairman** 

Page-3- 



## **ST. MARGARET OF ANTIOCH CHURCH ST. MARGARET'S -AT- CLIFFE** 

## **Registered Charity No: 1166921** 

## **INDEPENDENT EXAMINER'S REPORT TO THE PCC** 

I report on the financial statements of the PCC for the year ended 31st December 2021 which are set out on pages 5 to 8. 

## **Respective responsibilities of PCC and Examiner.** 

The PCC members, as charity trustees, are responsible for the preparation of the financial statements. The charity trustees consider that the 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 needed. 

It is my responsibility to: 

- ~examine the financial statements under section 145 of the 2011 Act 

~ to follow the procedures laid down in the General Directions given by the Charity Commissioners under section145(5) (b) of the 2011 Act and the Church Accounting Regulations 2006. 

- ~to state whether particular matters have come to my attention. 

## **Basis of this Report.** 

My examination was carried out in accordance with the General Directions given by the Charity Commission and the guidance issued by the Finance Division of the Archbishop's Council. 

An examination includes a review of the accounting records kept by the PCC and a comparison of the financial statements with those accounting records. It also includes any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion as to whether the financial statements present a "true and fair view" and the report is limited to those matters set out in the statement below. 

## **Independent Examiner's statement.** 

In connection with my examination, no matter has 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; and 

   - ~ to prepare financial statements which accord with the accounting records and comply with the requirements of the 2011 Act have not been met; or 

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. 

## **M P Fielding** 

3 Langdon Close St. Margaret's at Cliffe. Dover. CT15 6AE. 

Dated: 

Page-4- 



## **ST. MARGARET OF ANTIOCH CHURCH** 

## **ST. MARGARET'S -AT- CLIFFE** 

## **Registered Charity No: 1166921** 

## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2021 GENERAL FUND RECEIPTS AND PAYMENTS ACCOUNT** 

|**RECEIPTS**<br>Regular Contributors' Giving<br>Recovered Income Tax on Gift Aid<br>Deposit Interest<br>Investment Income (including trusts)<br>Open Plate Collections<br>Fees for Weddings and Funerals etc.<br>Social and Fundraising Activities (Note 2).<br>General Fund Donations<br>Sales of Merchandise<br>Mast Rent<br>Grants & Contributions to Expenses<br>Water/Electricity Refunds<br>Parish News Income<br>**Total Receipts**<br>**PAYMENTS**<br>Vicar's, Clergy & Office Expenses<br>Church Cleaning<br>Churchyard Maintenance & Water<br>Light & Heat<br>Insurance<br>Church Services Costs<br>Training & Youth Activity<br>Dover Deanery Levy<br>Governance Costs and Bank Charges<br>Organ & Choir Costs<br>Repairs/Replacements - Furniture and Fittings<br>Director of Music<br>Merchandise Purchased for Resale<br>Mission Links  & Outreach<br>Parish News Payments<br>**Total Payments**<br>**Excess of Receipts over Payments before Parish Share**<br>Parish Share (Note 4 on Page 8)<br>**Deficit/Surplus for the year**<br>Less: Transfers to Restricted Funds (see Page 6)<br>Cash & Bank Balance at 1st January 2021<br>**Cash & Bank Balances at 31st December 2021 on General Fund**|**2021**<br>**£**|**2020**<br>**£**|
|---|---|---|
||21548<br>4950<br>95<br>978<br>3668<br>1399<br>127<br>300<br>165<br>7500<br>1700<br>208<br>3173|21389<br>5482<br>213<br>954<br>3376<br>1548<br>35<br>1028<br>200<br>7500<br>950<br>1429<br>6967|
||45811|51071|
||1073<br>685<br>1736<br>1454<br>249<br>540<br>2615<br>2774<br>4042<br>4065<br>1305<br>210<br>28<br>92<br>143<br>191<br>110<br>76<br>1102<br>768<br>956<br>736<br>5476<br>5408<br>944<br>0<br>692<br>152<br>1487<br>2228||
||21958|19379|
||23853<br>-34599|31692<br>-31499|
||-10746<br>0|193<br>-2100|
||-10746<br>9247|-1907<br>11154|
||-1499|9247|



Note: Costs incurred, but not paid at 31 December 2021 are not included above but shown as Liabilities in the statement of assets and Liabilities on Page 8. 

Page-5- 



## **ST. MARGARET OF ANTIOCH CHURCH ST. MARGARET'S -AT- CLIFFE** 

## **Registered Charity No: 1166921** 

## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2021** 

|**RECEIPTS & PAYMENTS  RESTRICTED FUNDS**<br>Bank<br>Receipts<br>Transfers<br>Transfers<br>Balances<br>for the<br>from<br>from<br>at<br>year<br>General<br>Designated<br>01.01.21<br>Funds<br>Funds<br>**£**<br>**£**<br>**£**<br>**£**<br>Alms Fund<br>261<br>Fabric Fund (Note A below)<br>24011<br>1249<br>Youth Fund<br>250<br>Benefice Parish Share Support Fund<br>696<br>Dementia Café Fund<br>433<br>1600<br>Geraldine Parkes Fund (B below & Note 6)<br>-596<br>5922<br>Roy Hayward Fund (£40,000 Invested in the year)<br>85610<br>930<br>Choir Fund<br>595<br>Childrens Society collections to be paid over<br>175<br>Salaries, Tax and National Insurance<br>70<br>Three Charities Fund (Note C below)<br>4200<br>**Total Restricted Cash Funds**<br>**114865**<br>**10541**<br>**0**<br>**0**<br>**Notes: A. Fabric Fund.**<br>Receipts:  G Grants: Listed Places of Worship Roof Fund (Gutter Repair & VAT)<br>Income from Fabric Fund investments<br>Grant for Lightning Conductor<br>Refunded of roof repair costs relating to Mast<br>Payments: Engineer's Report and Architect's Supervision and Reporting<br>Lightning Conductor Repair and Testing<br>Stonework Repairs and Replacements North Side (including scaffolding etc.).<br>Roof repair and access inspection costs relating to Mast<br>Small repairs and tree work<br>**Notes: B. Geraldine Parkes Fund (See also Note 6 & 8)**<br>Receipts:<br>Dividends on Investments received in the year<br>Cost of Investment units sold<br>Realised Profit on sale of investments for £5,000<br>Payments: Grant to St. Margaret's Dementia Café<br>Cost of new sound system|Bank<br>Balances<br>at<br>01.01.21<br>**£**|Receipts<br>for the<br>year<br>**£**|Transfers<br>from<br>General<br>Funds<br>**£**|Transfers<br>from<br>Designated<br>Funds<br>**£**|Payments<br>for<br>the<br>year<br>**£**|Bank<br>Balances<br>at<br>31.12.21|
|---|---|---|---|---|---|---|
|||||||**£**|
||261<br>24011<br>250<br>696<br>433<br>-596<br>85610<br>4200|1249<br>1600<br>5922<br>930<br>595<br>175<br>70|||6168<br>588<br>500<br>40000<br>207<br>2100|261<br>19092<br>250<br>696<br>1445<br>4826<br>46540<br>388<br>467<br>70<br>2100|
||**114865**|**10541**|**0**|**0**|**49563**||
|||||||**76135**|
||||||||
||||||**2021**<br>**£**|**2020**<br>**£**|
||||||0<br>749<br>500<br>0|4275<br>782<br>0<br>2926|
||||||1249|7983|
||||||1961<br>1076<br>0<br>2796<br>335|2643<br>0<br>8927<br>2926<br>216|
||||||6168|14712|
||||||||
||||||**2021**<br>**£**|**2020**<br>**£**|
||||||922<br>2847<br>2153|899<br>0<br>0|
||||||5922|899|
||||||500<br>0|0<br>0|
||||||500|0|



**Note: C. Three Charities Fund.** The amounts to be distributed, up to the amount of £2,100, will be agreed by the PCC at their first meeting after the Annual Parochial Church Meeting for 2022. 

## **STATEMENT OF ASSETS AND LIABILITIES AT 31st DECEMBER 2021** 

|**Monetary Assets, excluding unrealised**<br>**surpluses on investment (Note 8)**<br>Cash in Hand at 31 Dec 2021<br>CAF Bank<br>Central Board of Finance Deposit Fund<br>**Total Cash Funds**<br>Investment Funds at Cost (Also see Note 8)<br>**Less: Liabilities**<br>Employment Costs & National Insurance<br>Vicar's Expenses Claim<br>Electricity Charges<br>Three Charities<br>**Total Net Assets (Excluding Investments)**|General<br>Fund<br>**£**|Designated<br>Funds<br>Note 5.<br>**£**|Restricted<br>Funds<br>**£**|Endowment<br>Fund<br>**£**|**2021**<br>Total<br>**£**|**2020**<br>Total||
|---|---|---|---|---|---|---|---|
|||||||**£**||
||781<br>-2280<br>0|9678<br>19722|36135<br>40000|2000|781<br>0<br>43533<br>53790 <br>61722<br>101722|||
|||||||53790 <br>101722||
||-1499<br>0|29400<br>35858|76135<br>80857|2000<br>0|106036<br>116715|155512||
|||||||116715||
||-1499|65258|156992|2000|222751|272227||
||-4573<br>-2412<br>-915||-2100||-4573<br>-2412<br>-915<br>-2100|0<br>0<br>0<br>-4200||
||-9399|65258|154892|2000|212751|268027||



Page-6- 



## **ST. MARGARET OF ANTIOCH CHURCH ST. MARGARET'S -AT- CLIFFE Registered Charity No: 1166921** 

|**SUMMARY OF TOTAL RECEIPTS & PAYMENTS**<br>General Fund (per Page 5)<br>Designated Fund - Contingency Fund (Note 5)<br>Restricted Funds (per above)<br>Endowment Fund (per above)|**Receipts**<br>**Payments**<br>**2021**|**Receipts**<br>**Payments**<br>**2021**|**Receipts**<br>**Payments**<br>**2020**|**Receipts**<br>**Payments**<br>**2020**|
|---|---|---|---|---|
||**£**<br>45322<br>0<br>10541<br>0|**£**<br>56557<br>0<br>49563<br>0|**£**<br>51071<br>0<br>10607<br>15|**£**<br>50878<br>0<br>16155<br>15|
||55863|106120|61693|67048|



## **NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2021** 

## **1. STATEMENT OF ACCOUNTING POLICIES** 

The financial statements of the PCC have been prepared in accordance with Church Accounting Regulations 2006 on a Receipts and Payments basis, together with the applicable accounting standards and the Charities SORP 2005. 

## **a. Funds** 

1. General funds represent the funds of the PCC that are not subject to special designation. Designated funds are unrestricted (see Note 5). 

Funds held for particular purpose by the PCC are included in Restricted Funds. 

2. The financial statements include monetary transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of other Church groups. 

3. All the funds of the PCC are held in a combined bank current account, deposit with the Central Board of Finance and investment in managed funds 

## **b. Income, Capital Sources and Expenditure** 

1. Income is recognised when received by the PCC and expenditure when irrevocably paid. 

2. Small legacies (less than £5000 and unrestricted) are taken direct to General Fund Receipts and Payments Account. Larger unrestricted legacies are taken to the Designated Contingency Fund (unrestricted). 

## **c. Statement of Assets and Liabilities.** 

1. The statement of assets and liabilities incorporates monetary assets, debtors and creditors only. These include investment assets that are easily convertible into cash. 

2. Land and buildings, furniture, fixtures, fittings and equipment are not recognised or valued for the purposes of preparing these financial statements. Such assets are held in trust 

by the churchwardens, and may require a faculty before they can be disposed of. A Church inventory is maintained of the main non-monetary moveable assets. 

|**2. SOCIAL & FUNDRAISING ACTIVITIES**<br>Christmas Tree & Crib Festival (Cancelled for 2020)<br>Cartridge recycling  & Other Small Activities<br>**Totals per Page 4.**<br>**3. PAYMENTS TO MISSIONS AND CHARITIES**<br>Amounts paid over during the year have been as follows:<br>**a. The Three Charities (see below)**<br>Embrace the Middle East (formerly Biblelands)<br>Catching Lives<br>Dover Outreach Centre<br>Dover Street Pastors<br>**Sub Total**<br>**b. Special Collections at Church services  and Fundraising**<br>The Children's Society (Advent &Christingle Services)<br>Royal British Legion (Service of Remembrance)<br>Dover Foodbank<br>**Sub Total**<br>**Combined Totals for the year**|**2021**<br>**£**|**2020**|
|---|---|---|
|||**£**|
||0<br>127|0|
|||35|
||127|35|
||||
||||
||||
||**2021**<br>**£**|**2020**|
|||**£**|
||700<br>700<br>0<br>700||
|||700|
|||0|
|||700|
|||700|
||2100|2100|
||467<br>179<br>0||
|||0|
|||0|
|||77|
||646|77|
||2746||
|||2177|



**Note:** 1. The sum of £ 2,100 was  transferred from The General Fund to the Three Charities Fund for 2020. This will be allocated at the first PCC meeting following the APCM, and then paid. See also Note C on Page 6. 

2. Some outreach costs are met by the PCC and not funded by collections.  See Page 5. Page -7- 



## **ST. MARGARET OF ANTIOCH CHURCH ST. MARGARET'S -AT- CLIFFE** 

## **Registered Charity No: 1166921** 

## **NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2021** 

|**4. PARISH SHARE**<br>Gross Diocesan Share for the year<br>Less: Early payment discounts<br>**Amounts Paid/Payable**<br>**5. CONTINGENCY FUND (DESIGNATED)**<br>There have been no movements in the year<br>**Balance at 31 December 2021 (see Note 8 Below)**|**2022**<br>**£**|**2021**<br>**£**|**2020**<br>**£**|
|---|---|---|---|
||32482<br>0|35126<br>-527|31499<br>0|
||32482|34599|31499|
|||||
|||**2021**<br>**£**|**2020**<br>**£**|
|||65258|65258|



## **6. THE GERALDINE PARKES FUND (RESTRICTED)** 

To comply with the wishes of the deceased and the subsequent resolution of the PCC, " The legacy of the late Geraldine Parkes of £50,000 be held as a restricted fund called The Geraldine Parkes Fund at the discretion of the incumbent for the use for the furtherance of pastoral care at the Church in accordance with the stated wishes of the deceased. This restriction should be stated by way of note in the PCC annual accounts in reference to the fund and any monies applied from the fund during the course of the year". 

## **7. THE  ROY HAYWARD FUND (RESTRICTED)** 

In the will of the late Roy Hayward, it was stipulated that "the moneys so bequeathed shall be used for the upkeep and maintenance of the Church and its grounds". The fund is therefore restricted. 

|**8. VALUES OF SPECIAL FUNDS**<br>**Contingency Fund (Designated/Unrestricted)**<br>Bank account (Caf Bank)<br>Deposit Funds. (Central Board of Finance)<br>Invested Funds (CAF Social Responsibility units)<br>Total Fund<br>**Fabric Fund (Restricted)**<br>Bank Account (Caf Bank)<br>Deposit Funds (Central Board of Finance)<br>Invested Funds (CAF Social Responsibility units)<br>Total Fund<br>**Geraldine Parkes Fund (Restricted)**<br>Bank Account (Caf Bank)<br>Deposit Funds (Central Board of Finance)<br>Invested Funds (CCLA Ethical Investment units)<br>Total Fund<br>**Roy Hayward Fund (Restricted)**<br>Bank account (Caf Bank)<br>Deposit Fund (Central Board of Finance)<br>Invested Funds (CCLA Ethical Investment units)|Book<br>Market<br>Value<br>Value<br>£<br>£<br>**2021**|Book<br>Market<br>Value<br>Value<br>£<br>£<br>**2021**|Book<br>Market<br>Value<br>Value<br>£<br>£<br>**2020**|Book<br>Market<br>Value<br>Value<br>£<br>£<br>**2020**|
|---|---|---|---|---|
||9678<br>19722<br>35858|9678<br>19722<br>90107|9678<br>19722<br>35858|9678<br>19722<br>77380|
||65258|119507|65258|106780|
||19092<br>0<br>35858|19092<br>0<br>90107|24011<br>0<br>35858|24011<br>0<br>77380|
||54950|109199|59869|101391|
||4826<br>0<br>42153|4826<br>0<br>80592|-596<br>0<br>45000|-596<br>0<br>74947|
||46979|85418|44404|74351|
||6540<br>40000<br>40000|6540<br>40000<br>45973|5610<br>80000<br>0|5610<br>80000<br>0|
||86540|92513|85610|85610|



## **9. COMBINED CASH, BANK AND INVESTMENT VALUES at 31 DECEMBER 2021** 

|Cash & Bank  Funds<br>Investments at<br>valuation|General<br>Fund<br>**£**|Designated<br>Funds<br>Note 5.<br>**£**|Restricted<br>Funds<br>**£**|Endowment<br>Fund<br>**£**|**2021**<br>Total<br>**£**|**2020**|
|---|---|---|---|---|---|---|
|||||||Total|
||||||||
|||||||**£**|
||-3599<br>0|29400<br>90107|78235<br>216672|2000<br>0|106036<br>306779|155512|
||||||||
|||||||229707|
||-3599|119507|294907|2000|412815|385219|
||||||||



## **10. OTHER CHARITABLE FUNDS** 

The Vicar and Churchwardens are the trustees of two charitable trusts whose objects include support for the Church and its fabric. These trusts cover Church costs from time to time. Other expenditures, normally on capital projects are also covered, or grant assistance given, by The Friends of St. Margaret's Church and The F E Cleary Four Churches Trust. The Friends is currently under the control of the PCC as there is no independent committee to manage it. At 31 December 2020 The Friends held assets in cash funds of £13,426. 

## **11. CONNECTED PARTY TRANSACTIONS.** 

During the year £1752 was paid to Mrs S Liggins (a member of the PCC) for church cleaning. 



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