THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FLITWICK
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDING
31 DECEMBER 2020
| CONTENTS | |
|---|---|
| Page | |
| Trustees Report | 2 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 13 |
The Parochial Church Council of the Ecclesiastical Parish of Flitwick, is registered with the Charity Commissioners for England and Wales (Charity no. 1169624)
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Parochial Church Council of the Ecclesiastical Parish of Flitwick
TRUSTEES’ REPORT FOR THE YEAR ENDING 31 DECEMBER 2020
Aim and Purposes
The Parochial Church Council has the responsibility of co-operating with the Incumbent, the Reverend Lucy Davis, in promoting in the ecclesiastical parish Flitwick the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has responsibility for the maintenance of the Parish Church and Chapter House.
Objectives and Activities
When planning our activities for the year, we have considered the Charity Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:
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Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus.
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Provision of pastoral care for people living in the parish.
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Missionary and outreach work.
Achievements and performance
Worship and Prayer
Our worship was significantly impacted by COVID19, with the church building having to close completely with the first national lockdown on 23[rd] March 2020. However, we have continued to be a worshipping community. Our worship has included:
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Morning Prayer livestreamed on Facebook each weekday from the home of a member of the ministry team.
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‘Worship Together, Apart’ livestreamed on Facebook from the home of one of the clergy during the first Lockdown and then with a gathered congregation in church when it became possible.
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‘Coffee and Chat’ on Zoom in place of our Wednesday Communion service, with prayer and reflection on the Gospel reading from the preceding Sunday.
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An all-age Sunday Celebration at 9am weekly, variously on Zoom, on the church lawn and in our building as restrictions and weather allowed.
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Eucharistic worship in church on Wednesdays and at 10:30 am on Sundays, as permitted during the year.
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Lectionaries and devotional materials sent by post for those not on line, together with details of worship available by phone, on the radio and television.
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Special services throughout the year, including on Christmas Eve a livestream Midnight Mass with 480 views, and a Christingle service with nearly 1,000.
Pastoral Offices were significantly curtailed, with no weddings taking place (2019 – 8 weddings) and only 10 baptisms (2019 – 34 baptisms). Clergy from the Parish officiated at 46 funerals: 18 in church and 28 elsewhere (2019 – 20 in church, 28 elsewhere)
Pastoral Care
During COVID restrictions our normal visits to hospitals, homes and care homes were not possible.
In March 2020 the Church established Hubs, so that every member of our contact database received a phone call weekly. In August, the Hubs were reduced in size so that those who were most isolated continued to be called. In addition, the church was instrumental in setting up the Flitwick Community Lifeline, together with other agencies, a phone service providing shopping and prescriptions for those who were shielding during Lockdown, meeting some 50 requests each week at the peak in April 2020.
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Mission and Evangelism
Members of the congregation, the vicar and the curate usually regularly visit to local schools, providing assemblies, RE curriculum support and other activities. During COVID restrictions these activities continued online via livestream and recordings.
As a church, we continued to make regular contributions to the Need project food bank, as well as raising money for other charities carrying out God’s work, including our nominated Charities for the year, Keech Hospice Care and Shelter.
In Autumn 2020 we began Make Lunch, a scheme to provide families in danger of food poverty with meals during the school holidays. In the Christmas holidays, we provided boxes containing 300 meals, including recipe cards and lots of fresh produce.
One effect of moving our worship online during the pandemic has been the number of people who have come into contact with faith and how widely we have been able to speak the Good News of Jesus Christ in our community and beyond.
Ecumenical relationships
The church is a member of Churches Together in Ampthill and Flitwick.
Deanery Synod
Three members of the PCC sit on the deanery synod. This provides the PCC with an important link between the parish and the wider structures of the church.
Buildings
Routine maintenance of our building continued as far as possible with the restrictions on working practices in place. We were required by law to close our building completely from March until June, reopening for private prayer from 15[th] June, ensuring the safety from infection for visitors by a daily cleaning regime carried out by a team of volunteers.
Financial review
Income in 2020 was down £33,117 from the prior year (2020 £89,568, 2019 122,685), largely due to the effects of the Covid pandemic and lockdowns. The income streams most affected by Covid were Collections at Services (down £9,450 or 78%), Wedding and Funeral fees (down £2,942 or 41%), Fundraising Events (down £4,017 or 75%) and Chapter House Letting (down £1,007 or 51%). In addition, unrelated to Covid, the PCC did not receive further grants for the Fresh Expression (2019 £2,750) or from the Friends of Flitwick Church for Fabric expenditure (2019 £21,329)
Somewhat offsetting these decreases were one-off “Other Donations” of £12,724 (an increase of £6,397 or 23% from the prior year). Planned Giving income also increased by £4,137 or 9% from the prior year. The PCC now receives 98 regular planned giving donations, 48 by Direct Debit through the Parish Giving Scheme 38 by Standing Order or Bank Transfer and 12 via our Envelope scheme. This represents an increase of 5 donors during 2020 and 13 donors during 2019.
Total expenditure was down £34,244 from the prior year (2020 93,587, 2019 127,010). This was almost entirely due to the prior year expenditure on major maintenance projects not being repeated this year (2019 Lych Gate and Church floor projects). Significant items of expenditure in 2020 included £3,780 on tree surgery (met from the legacy fund) £1,954 on hymn books (also met from the Legacy Fund) and 1,469 on a new shed (met from General Funds).
Net expenditure for the year was £4,018 (2019 £4,325).
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Reserves
It is PCC policy to try to maintain a balance on free reserves which equates to between three and six months of unrestricted payments. This is equivalent to approximately £22,500 to £45,000. It is held to smooth out fluctuations in cash flow and to meet emergencies. The balance of the free reserves (unrestricted reserves which have not been designated by the PCC for use for other purposes) at the year-end was £50,221 which is slightly higher than this target.
Our PCC legacy policy is to use legacy gifts to help fund significant development projects, whether buildings, equipment, mission or staff. The PCC has created a designated Legacy Reserve Fund to separate legacy donations from free reserves and has transferred the legacies donated in the past two years to this reserve. Use of the reserve to fund specific projects requires approval of the PCC via a PCC resolution. At the year-end, the Legacy reserve stood at £27,370.
The costs relating to a future sale of St. Andrew’s Hall have been separated into a separate designated reserve, to net off against any future income from that sale. The St Andrews sale reserve had a deficit balance of £2,917 at year end.
The restricted reserves of £24,126 can only be spent for the purposes for which they were originally donated. The largest of these is the Religious Education Fund of £6,992 which can only be spent on Education receives income from the Old School Sunday School fund (2020 £1,435, 2019 £1,393).
The endowment reserves of £11,103 are a special kind of restricted fund that must be retained permanently as capital. The income on the PCC’s endowment reserves can only be spent on fabric related items and are paid into the restricted Chancel and Fabric repair funds.
It is our policy to invest cash balances over and above those required to fund day to day expenditure with the CCLA Church of England Deposit Fund. Endowment funds are invested in the CCLA Church of England Investment Fund.
Structure, governance and management
The Parochial Church Council of the Ecclesiastical Parish of St Peter & St Paul with St Andrew, Flitwick, is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a registered charity.
The method of appointment of PCC members is set out in the Church Representation Rules. In this parish, the membership of the PCC consists of the incumbent (our vicar), the assistant curate, churchwardens, members of Deanery Synod, members elected by those members of the congregation who are on the electoral roll of the Parish.
Administrative information
The Parish Church of St Peter and St Paul is situated on Church Road, Flitwick, MK45 1AE. The Parish is part of the Diocese of St Albans within the Church of England. The correspondence address is The Vicarage, 26 Dew Pond Road, Flitwick, Bedford, MK45 1RT. Registered charity number 1169624.
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PCC members who have served at any time from 1 January 2019 until the date this report was approved are:
Incumbent Revd Lucy Davis – Chair Churchwardens: Mr Chris Macintosh Mr David Watson – Lay Chair Assistant Curate Revd Andrea Maffei Representatives of the Deanery Dr Anthony Brown Synod Mr Anthony Davis (from 12[th] October 2020) Mr David Golding (from 12[th] October 2020) Mrs Karen Rabjohn (until 12th October 2020) Mrs Rachel Thompson (until 12[th] October 2020) Other Elected Members Mr Ian Cook Mr Anthony Davis (Treasurer until 27[th] April 2020) Mrs Samantha Davis Mr Ciaran Diver Mrs Linda Foale – Secretary Mr Richard Fullbrook (until 12[th] October 2020) Mr Richard Harris Mrs Wendy Harris – Safeguarding Officer Mr David Loader (from 12[th] October 2020) Mrs Heather Macintosh Mrs Mary McKeand Ms Donna Morris – Treasurer (from 27[th] April 2020) Mrs Karen Rabjohn (from 12[th] October 2020) Mrs Carol Thompson Ms Sarah Watt (until 27[th] April 2020)
Report approved by the PCC on 8th March 2020 and signed on their behalf by
Rev Lucy Davis Chair
Mr David Watson Lay Chair
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INDEPENDENT EXAMINER’S REPORT
Report to the Parochial Church Council of the Ecclesiastical Parish of Flitwick. Charity Number 1169624
I report to the trustees on my examination of the accounts of the above charity (“the PCC”) for the year ended 31 December 2020, set out on pages 7 to 13.
Responsibilities and Basis of Report
As the charity's trustees, you, are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the PCC’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Terry Thurley 8[th] March 2020
Gladive, 15 Hampden Close Flitwick Bedford MK45 1HR
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Parochial Church Council of the Ecclesiastical Parish of Flitwick
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2020
| Unrestricted | Restricted | Endowment | TOTALS | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | 2019 | ||
| Note | £ | £ | £ | £ | £ | |
| 2 | Income and endowments: | |||||
| Donations and legacies | 80,042 | 3,203 | - | 83,245 | 105,877 | |
| Income from Church Activities | 4,122 | - | - | 4,122 | 8,839 | |
| Activities for Generating Funds | 1,671 | - | - | 1,671 | 7,347 | |
| Income from Investments | 208 | 322 | - | 530 | 622 | |
| Total income | 86,044 | 3,525 | - | 89,568 | 122,685 | |
| 3 | Expenditure on: | |||||
| Raising funds | 2,442 | - | - | 2,442 | 1,622 | |
| Expenditure on Church Activities | 87,898 | 3,247 | - | 91,144 | 125,388 | |
| Total expenditure | 90,340 | 3,247 | - | 93,587 | 127,010 | |
| Net income / (expenditure) resources | (4,296) |
278 | - | (4,018) | (4,325) | |
| Transfers: | ||||||
| Gross transfers between funds - in | - | - | - | - | - | |
| Gross transfers between funds - out | - | - | - | - | - | |
| Other recognised gains / losses | ||||||
| Gains/losses on investment assets | - | - | - | - | 1,638 | |
| Gains on revaluation, fixed assets, charit | - | - | 717 | 717 | - | |
| Net movement in funds | (4,296) | 278 | 717 | (3,301) | (2,687) | |
| Reconciliation of funds | ||||||
| Total funds brought forward | 78,969 | 23,847 | 10,385 | 113,202 | 115,889 | |
| Total funds carried forward | 74,673 | 24,126 | 11,103 | 109,901 | 113,202 |
The notes on pages 9 to 13 form part of these financial statements
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Parochial Church Council of the Ecclesiastical Parish of Flitwick
BALANCE SHEET AT 31 DECEMBER 2020
| Note FIXED ASSETS Tangible assets 7 Investments 10 CURRENT ASSETS Cash at Bank and in Hand Debtors CURRENT LIABILITIES Creditors payable within one year NET CURRENT ASSETS TOTAL NET ASSETS THE FUNDS OF THE CHARITY Unrestricted income funds: General Designated Restricted income funds: Restricted 9 Endowment 10 8 |
£ £ £ £ 1,207 1,643 11,103 10,385 12,310 12,028 97,806 99,258 2,507 3,963 100,312 103,221 2,721 2,048 97,591 101,174 109,901 113,202 50,221 46,502 24,452 32,468 74,673 78,969 24,126 23,847 11,103 10,385 109,901 113,202 2020 2019 |
|---|---|
| 100,312 2,721 |
|
Approved by the PCC on 8[th] March 2020 and signed on their behalf by
Rev Lucy Davis Chair
Mr David Watson Churchwarden
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Parochial Church Council of the Ecclesiastical Parish of Flitwick
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2020
1 ACCOUNTING POLICIES
Basis of preparation:
The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair view” provisions, together with FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at fair value.
Income and Endowments:
Recognition: These are included in the Statement of Financial Activities (SOFA) when:
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the PCC becomes legally entitled to the use of the resources; and
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inflow of economic benefit is probable; and
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the monetary value can be measured with sufficient reliability.
Fund Raising: Funds raised from events and trading activities are reported gross in the SOFA – i.e., before any related costs that may have been deducted from the gross proceeds.
Grants and donations: Grants and donations are included in the SOFA when any preconditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received.
Gift Aid Tax claims, etc., on cash donations: Gift Aid and other tax claims are included in the SOFA at the same time as the cash donations to which they relate.
Investment gains and losses: This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure & Liabilities:
Liability Recognition: Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable.
Assets:
Consecrated and benefice property: In so far as consecrated and benefice property of any kind is excluded from the statutory definition of “charity” by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.
Tangible fixed assets for use by charity: These are capitalised if they can be used for more than one year, and cost at least £400. They are valued at cost.
Depreciation is calculated to write off the capitalized cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:
▪ Office equipment - 5 years
Investments: Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end.
Short term deposits: Include cash held on deposit either with the CBF Church of England Funds or at the bank.
Funds:
Unrestricted Funds: These represent the funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on future projects.
Restricted Funds: These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
Endowment Funds: These are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of their restrictions are shown in note 10.
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NOTES TO THE FINANCIAL STATEMENTS (cont.)
| 2 Income and endowments: Donations and legacies 1010 - Planned Giving - Gift Aided 1030 - Planned Giving - Other 1110 - Collections at Services 1115 - Collections at FX services 1220 - Other Donations 1410 - Grants for Property Maintenance 1420 - Grants for Religious Education 1430 - Grant for Fresh Expression 1440 - Grant for Make Lunch 1610 - Gift Aid recoverable Donations and legacies Totals Income from Church Activities 2110 - Weddings & Funerals - Statutory Fees 2120 - Weddings & Funerals - Other Fees 2130 - Parish Magazine Subscriptions 2225 - Other Income from Church Activities Income from Church Activities Totals Activities for Generating Funds 2210 - Fundraising Events 2220 - Parish Magazine Advertising 2230 - Chapter House Letting 2240 - Other Fundraising Activities for Generating Funds Totals Income from Investments 2310 - Bank Interest 2320 - Dividends from Investment Funds Income from Investments Totals Income and endowments: Grand totals |
Restricted Endowment General Designated Funds Funds 2020 2019 £ £ £ £ £ £ 42,533 - - - 42,533 37,589 9,895 - - - 9,895 10,702 2,429 - 183 - 2,611 12,061 12 - - - 12 24 12,340 - 385 - 12,725 6,328 - - - - - 21,329 - - 1,435 - 1,435 1,393 - - - - - 2,750 - - 1,200 - 1,200 - 12,834 - - - 12,834 13,701 Unrestricted Funds TOTALS |
|---|---|
| 80,042 - 3,203 - 83,245 105,877 |
|
| 2,576 - - - 2,576 5,518 1,546 - - - 1,546 1,665 - - - - - 934 - - - - - 723 |
|
| 4,122 - - - 4,122 8,839 |
|
| 607 - - - 607 4,624 100 - - - 100 750 964 - - - 964 1,971 - - - - - 1 |
|
| 1,671 - - - 1,671 7,347 |
|
| 208 - 10 - 219 320 - - 312 - 312 303 |
|
| 208 - 322 - 530 622 |
|
| 86,044 - 3,525 - 89,568 122,685 |
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NOTES TO THE FINANCIAL STATEMENTS (cont.)
| Unrestricted Funds | Unrestricted Funds | Restricted | Endowment | TOTALS | TOTALS | ||
|---|---|---|---|---|---|---|---|
| General | Designated | Funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | £ | £ | ||
| 3 | Expenditure on: | ||||||
| Raising funds | |||||||
| 3110 - Giving and Gift-Aid Costs | 160 | - | - | - | 160 | 192 | |
| 3210 - Fundraising Events Costs | - | - | - | - | - | 794 | |
| 9130 - St Andrews Sale costs | - | 2,282 | - | - | 2,282 | 635 | |
| Raising funds Totals | 160 | 2,282 | - | - | 2,442 | 1,622 | |
| Expenditure on Church Activities | |||||||
| 4110 - Parish Share | 61,023 | - | - | - | 61,023 | 59,059 | |
| 5110 - Parish Clergy Expenses | 1,261 | - | - | - | 1,261 | 2,021 | |
| 5710 - Worship Supplies & Costs of Services | 1,949 | - | 166 | - | 2,115 | 2,550 | |
| 5720 - Organist Fees | 415 | - | - | - | 415 | 1,168 | |
| 5730 - Director of Music Salary | 2,084 | - | - | - | 2,084 | 1,685 | |
| 5810 - Fresh Expression Costs | 27 | - | - | - | 27 | 162 | |
| 6310 - Education & Children | - | - | 439 | - | 439 | 589 | |
| 6410 - Make Lunch Costs | - | - | 533 | - | 533 | - | |
| 6510 - Mission Giving | 80 | - | 1,325 | - | 1,405 | 3,163 | |
| 6610 - Mission and Evangelism - Other | - | - | 59 | - | 59 | 503 | |
| 7410 - Parish Administrator Salary | 2,879 | - | - | - | 2,879 | 3,542 | |
| 7510 - Administration & Parish Office Costs | 1,826 | - | - | - | 1,826 | 1,865 | |
| 7520 - Staff & Volunteer training | - | - | 10 | - | 10 | 119 | |
| 7610 - Other Church Running Costs | 57 | - | - | - | 57 | 934 | |
| 7710 - Parish Magazine Costs | 354 | - | - | - | 354 | 1,690 | |
| 8710 - Cleaning & Routine Maintenance (Paris | 2,875 | - | - | - | 2,875 | 4,741 | |
| 8720 - Utility Bills (Parish Church) | 2,762 | - | - | - | 2,762 | 4,113 | |
| 8730 - Insurance (Parish Church) | 2,067 | - | - | - | 2,067 | 1,973 | |
| 8780 - Upkeep of Churchyard | - | 3,780 | - | - | 3,780 | 713 | |
| 8810 - St Andrews Running Costs | 601 | - | - | - | 601 | 767 | |
| 8820 - Church Furnishings (not capitalised) | - | - | - | - | - | 72 | |
| 8910 - Depreciation | 436 | - | - | - | 436 | 841 | |
| 9110 - Major Repairs & Maintenance | - | - | 715 | - | 715 | 32,276 | |
| 9115 - Major Installations | 1,469 | 1,954 | - | - | 3,423 | 845 | |
| Expenditure on Church Activities Totals | 82,164 | 5,734 | 3,247 | - | 91,144 | 125,388 | |
| Expenditure Grand totals | 82,324 | 8,016 | 3,247 | - | 93,587 | 127,010 |
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NOTES TO THE FINANCIAL STATEMENTS (cont.)
| 2020 | 2019 | ||
|---|---|---|---|
| 4 | STAFF COSTS AND EMPLOYEE BENEFITS | £ | £ |
| Wages and Salaries | 4,963 | 5,227 | |
| Employees | 2 | 1 |
During the year the PCC employed a Director of Music and a Parish Administrator (both part-time). Payments were not large enough to attract social security costs
5 TRANSACTIONS WITH TRUSTEES
During the year the Rev'd Lucy Davis, chair of the PCC and the Rev'd Andrea Maffei, PCC member, received a total of £1,261 of expenses related to the performance of their duties as parish clergy. All expenses are consistent with Church of England guidance on the parochial expenses of clergy. During the course of the year members of the PCC, were reimbursed for other expediture incurred as agents on behalf of the PCC. These other payments are recorded in the accounts under the relevant expenditure category.
6 INDEPENDENT EXAMINER'S REMUNERATION
The Independent Examiner was not remunerated for his work on the 2020 accounts (2019 - nil)
| 7 TANGIBLE FIXED ASSETS Office Computer Photocopier Carrying value at 31 December 8 UNRESTRICTED FUNDS General Fund Legacy Fund (Designated) St Andrews Sale Fund (Designated) |
Cost at 1 January 2020 Accum Depreciation at 1 January 2020 Carrying Value at 1 January 2020 Deprec'n in year Carrying Value at 31 Dec 2020 £ £ £ £ £ 499 200 299 100 199 1,680 336 1,344 336 1,008 2,179 536 1,643 436 1,207 1 January 2020 Income Expend. Transfers Gains/ (Losses) 31 Dec 2020 £ £ £ £ £ £ 46,502 86,044 82,324 - - 50,221 33,103 - 5,734 - - 27,370 (635) - 2,282 - - (2,917) |
Cost at 1 January 2020 Accum Depreciation at 1 January 2020 Carrying Value at 1 January 2020 Deprec'n in year Carrying Value at 31 Dec 2020 £ £ £ £ £ 499 200 299 100 199 1,680 336 1,344 336 1,008 |
|---|---|---|
| 2,179 536 1,643 436 1,207 |
||
| 78,969 86,044 90,340 - - 74,673 |
Legacy gifts are used to help fund significant development projects; whether buildings, equipment, mission or staff.
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NOTES TO THE FINANCIAL STATEMENTS (cont.)
| 9 RESTRICTED FUNDS Religious Education Lych Gate Repair fund Fabric Repair Fund Bell fund Fresh Expression Furnishing Fund Make Lunch Choir Fund Chancel Fabric Fund Pither Legacy (Charitable use in Parish) Appeals for Charities Church Flowers |
1 January 2020 Income Expend. Transfers Gains/ (Losses) 31 Dec 2020 £ £ £ £ £ £ 6,006 1,435 449 - - 6,992 4,467 - 715 - - 3,751 3,023 166 - - - 3,189 3,003 9 - - - 3,011 2,588 - - - - 2,588 1,673 - - - - 1,673 - 1,510 533 - - 977 711 - 22 - - 689 388 148 - - - 536 535 - 59 - - 476 1,325 183 1,325 - - 183 130 75 145 - - 60 |
|---|---|
| 23,847 3,525 3,247 - - 24,126 |
Restricted funds have been donated to the PCC for specific purposes and may only be used for the purpose for which they were donated:
The Religious Education fund is the accumulated income from the Old School Endowment, a separate charity of which the Vicar and Churchwardens are trustees. This income of such endowmwnt funds is restricted by an Act of Parliament and can only be spent on religious education
The Lych Gate Repair fund represents amounts donated to fund the repairs to the Lych Gate in 2018/19. The remaining balance will be spent on completion of the planned repairs and any future repairs to the gate.
The Fabric Repair fund represents amounts donated by individuals as well as the Friends of Flitwick Church and is restricted to expenditure on the fabric of the Church building (including the Chapter House) and the churchyard
The Bell fund is restricted to repairs and maintenance of the bells and other bellringing expenses
The Fresh Expression fund is the balance of a grant from the Diocese of St Albans towards the costs of Flitwick FX
The Furnishing fund is restricted to expenditure on furnishings for the Church and Chapter House
The Make Lunch fund has arisen from donations and grants towards the Make Lunch scheme to provide meals to families in food poverty.
The Choir fund has been donated by individuals for Choir related expenditure
The Chancel Fabric fund is restricted by the Ecclesiastical Dilapidations Measure 1923 to repairs to the Church building and churchyard
The EM Pither Legacy is restricted to charitable use in the Parish and is spent at the discretion of the incumbent The Appeals fund represents collections for specific charities which have yet to be paid to that charity
Donations for Church Flowers are paid in to the Church Flowers fund, which is administered by the flower arrangers
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| ENDOWMENT FUNDS/ FIXED ASSET INVESTMENTS Brooks Legacy Endowment (Fabric) Byron Bequest Endowment (Fabric) Chancel Endowment Fund (Chancel Fabric) |
1 January 2020 Income Expend. Transfers Gains/ (Losses) 31 Dec 2020 £ £ £ £ £ £ 5,241 - - - 362 5,602 287 - - - 20 307 4,858 - - - 335 5,193 |
|---|---|
| 10,385 - - - 717 11,103 |
These endowment funds are restricted funds that must be retained as trust capital permanently and generate income for the PCC to be used for restricted purposes. Income from the Brooks and Byron funds is restricted to fabric expenditure and is recorded against the restricted Fabric Fund, income from the Chancel fund is recorded against the restricted Chancel Fund.
These funds are invested in The CBF Church of England Investment Fund. Income from them is restricted to fabric expenditure.
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