THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Registered Charty Number 1179768 2020 REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU Table of Contents Page Number Trustees Report Independent Examiners Report Statement of Financial Activities 10 Balance Sheet 11 Notes to the Financial Statements 12-17 Page I ZQ20 REPORT AND ACCOUNT5 FOR ThE PAROCHIAL CHURCH COUNaL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU Parlsh of Hlghertown and Baldhu Trustee5 Annual Report 2020 Incumbent Revd Jeremy Putnam All Saints Vicarage Tresawls Road Truro TRI 3LD The Parochlal Church ncll The Parochial Church Council of the Ecclesiastical Parish of Highertown and Baldhu l°PCUI is a corporate body established by the Church of England. It operates under the Parochial Church Council Powers measure. The appointment of PCC member5 15 governed by. and set out in. the Church Representation Rules. PCC members. both current and durine 2020. are as follow5: Putnam, Revd Jeremy (Chair since May 20151 Mullett, Revd Janette lex-officio member since IW July 20191 Gilbert, Revd Patrick fex-officio membersince 04/10/2020J Tomlinson, Jane fchurchwordenj Surrld8e, Rowlev Wallace, Liz (Deputy thurchworden cw?tedfor onotheryeor04/10/2020J Pothecary. Andrew (Stewardship Officer copoptedfor onother yeor04/10n020J Wright, Joanne (finished 3 ￿Or term re•elerted 04/10/2020) IPCCSecretory) Blackman. Louise Cuddeford, Dorca5 Webb, Dot Mortimore, Irene Pothecaryi Emily (Saftguording Officer & Deonerysynod Repre5entatlve-re-eletted14/10/2020J (Deonerysynod Representoti¥p- rethelerted 04/10/2020) Retired dur 8asram, Klrsty Bond, Avrll Bray, Simon Preston, Revd Haley Ledden, Bill Remick. David Woodhouse, Shirley 2020 (resiqned 04/10ft020J (3 year tennfinished 04/10/2020) (churchworde￿ ￿SignedfrOrn Offi￿ 04n0/2020J (resiqned5/2/20J 13 yeor temifinished ovion020J (resigned 04/10/2020J [3 year termfinished Od/ion020) Treasurer.. Mrs Karen Harrls Is not a member of the PCC but report5 on flnancial Issues in an advisory capacity. OD M•n• ement Thls Is dele8ated to the Incumbent. Rev Jeremy Putnam Inanclal Informatl Bank.. Lloyds Bank PLC 7. Boscawen Street Truro TRI 2QT Bank: Co-operat￿@ Bank PLC PO Box 50 Skelmersdale WN8 6 Bank = Llfehouse Project Uoyds Bank PLC PO Box IC( BXI ILT Inde endent Examlner: Mark Williams FCA DChA RRL LLP Peat House Newham Road Truro TRI 2DP Page 2 2020 REPORT AP4D ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLE51ASTICAL PARISH OF HIGHERTOWN AND BAiDHU Strurture overnance and man• me The Parochial Church Council is a cor¥K*rate body established by the Church of England. The PCC operates under the Parochial Church Council Power5 Measure. The PCC was registered with the Charity Commission on 3 September 2018. The PCC has no related trusts or charities. The appointment of PCC members 13 Governed by •nd set out in the Church Repre5ent•tbon Rules and 13 ¢ondu¢ted as follows: The appointment of PCC members 1$ 8overned by and set out in the Churth Representation Rules and 15 conducted as follows.. The Incumbent of the Parish shall be ex-officio chalmian of the PCC There are two Churchwardens who are etetted by the Annual Parochlal Meeting in accordance wlth the Church Representatlon Rules and they are ex-officio members of the PCC Persons elected bv the Annual Parochial Meetlne to serve as members of the Deanery Svnod shall be members of the PCC If the Annual Parochlal Meetlng shall 50 decide. any Readers in the Parish shall ￿ members of the PCC There Shall be a further 9 members of the PCC who shall serve for three years With slx of the number beln8 elected each year. Any casual vacancies shall be filled at the Annual Parochial Meetln8 wlth those so e￿tted servin8 for the number of years that the vacancy has to run. The vlce-chairman shall be a lay person and elected from the members of the PCC,. the secretsry and treasurer shall be elected by the pcc. If the treasurer and secr9tary are not members of the PCC they shall become co- opted members if they 50 choose. PCC members are encouraged to attend the Dlocesan Courses on the induction and training of PCC members. It Is recoBnlsed that the PCC has ultimate responsibility for a wide range of matters affertln8 the parlsh. Offlcers are •lected from wlthln the PCC •3 followJ- o responslblllty for child Pfotertion and protection for vulnerable adults Ilrene Mortirnore & Revd Jeremy Putnam).. o responsiblllty for Planned Givin8 Strategy and delivery (Llz Wallace); and o re5ponslbility for Health & Safety and Fabric (Rowley Surridgel Each officer is encouraged to attend the appropriate troinlng courses arran8ed by the Diocese or Deanery and to report back to the PCC and to disseminate any reading matter to the other members of the PCC. The PCC shall have a Standing Committee composed of the chalrman, the vice-chairman, the secretary. the tre35urer. and the churchwardens and any other persons that the PCC shall decide. Any decision made by the Standing Committee shall be ratified by the *ollowin8 PCC meetin8. Day to day decislons shall be made by the Incumbent in consultation with the Churchwardens if necessary but shall always be answerable to the PCC. The PCC shall appoint two or three PCC members who ore not members of the 10:10 Project Management Team to be members of the Llfehouge Committ?e. The PCC shall appoint one of these member5 to be the Chalr of the Commlttee, If the Chair is not present at • meetln& the Committee shall appoint one of the other members appolnted under thls c18use to chair the meetin8. Pa8e 3 2020 REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU The PCC shall appoint two of the Lifehouse Project Management Team members to be members of the Committee. The PCC has an Insurance Policy to cover Public Liabllity and also Bulldings Insurance. The PCC has ensured that Youth Groups are covered by the Insurance and also the Churchyard at Baldhu. Ob"ertlves and Actl¥ltles The primary object of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and prattl￿$ of the Church of England. The PCC is to co-operate wlth the mlnlster In promotin8 in the parish the whole mission of the Church, pastoral, evangelistic. social and ecumenical. IPCC (Powers) Measure 19S61 Vl3lon statemen¢ To be a Christ-centred, Spirit led. growing Church that proclaims the love of God. in word and déed. to the people of Hi8hertown and beyond. ASH will always seek to be a Jesus-centred. spirit led, 8rowing Church that prodaims the love of God. In word and deed, In falth andJustlce to the people olTruro and beyond. ASH will pay attention to Jesus, words and example by promoting biblical values such as peace. buildin8 5tron8 familles, the elimination of poverty, racism. and other important social justice Issues. ASH will strlve to reflect the inclusive nature of God's love and the diverse nature of God's creation by developing a community that rejoices in radical diversity in all aspects of human nature. whilst retaining a bias toward the most vulnerable and those less represented in church life. Gr at Com nt IExistln8 Church Community I: At All Saints we believe that our purpose in life is to LOVE THE LORD OUR GOD with all our HEART, SOUL. STRENGTH, and MIND: and to love one another just as Jesus loves us. WORSHIP is the wholehearted commltment to this command; in other words, a life of unself15h devotion to God. The greatest praise we can offer God is the full acceptsnce of Jesu5 Christ a5 our Saviour. We believe that the CHURCH is Chri5Ys body here on earth, and hence a very special COMMUNITY in which we can experience the LOVE OF GOD and the FELLOWSHIP OF THE HOLY SPIRIT. Given God'5 community involves real people it is also an imperfect and broken one. Thafs why we look to welcome all with love. acceptance, compassion and forgiveness. and to strengthen and support one another in life and falth. atc mml ion (Transformlng Mission Statement1= At All Saints we belleve that 01SCIPLE5HIP is about dedicating one'5 life to the WAY OF JESUS, and to Ilve the way God had intÈnded. We believe that If we LEARN ABOUT LIFE from the AUTHOR OF LIFE we wlll all see the FULLNESS LIFE. We wish to see ASH enlivened, growing in number and In faith and attractlng the generations that, by and lar8e, ore now missing from our congregations. We commit to workin8 With ecumenlcal partners, to help grow the next generation of leaders. both lay and ordained and to develop resources to enable nearby churches to reach out to thelr communities. We will develop resources that reflect the joys of our traditlon, whilst pioneerlng new expressions of fatth and prattice. Great Love ILifehouse Project).. At All Salnts we bÈlieve that every per50n. Chrlsilan and non-christian allke. is valuable and loved by God. Yet desplte thls truth the world can still be a dark place, filled with injustice. oppre55ion and prejudice. Knowing that Je5U5 came to brin8 life. and LIFE ABUNDANTLY, All Saint5 5eek5 10 be a church th3t take5 sèrioLFsly the PAIN OF THE WORLD and strlves to make a sjifference. Our mission 15 Jesu5. MISSION, he came to bring good news to the poor. and procl•lm release to the captive, sight to the blind and freedom to the oppressed. Page 4 Z020 REPORT AND Accouiifs FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCiESIA5TICAL PAR15H OF HIGHEKfowN AND BALDHU The Llfehou5e will be a beacon of love and hospitsllty offered In the name Jesus. It will represent our Christian commitment to the way of Chrisi throuBh h05Pitallty and servlce, provldlng space for stranger and friend. Throu8h the Lrfehouse will seek first the Kin8dom of God- on earth as It Is In heaven- and Ilve In a way that moves the world towards God's dream, where the first are last and the last are first, where the poor are blessed and the peacemakers are the children of God. workin8 towards a society where all are treated equally and ie50urce5 shared equitably. It will be the place where we recognise that Christianity is not simply belief- but belonging and behavln8 too, reco8nising that our faith is not simply a ticket intrj heaven but a manifesto for a Ilfechangln8 transformation of a sufferin8 world. Through the endeavour to reflect the 8reat love of Jesus we will strive to interrupt inlustlce, and stand up for the life and di8nlty of alli pointin8 to Christ in all we set out to do. ertlv for the ear The prlmary object of the PCC Is to enable the members of ihe church to worship Ggd and to grow in thelr understsndlng of the Chrlstlan faith and to Ilve out the Christian Faith to members of the Community. The PCC encourages members to be invoprfed with the education and support of all aBe 8roups. To this end the church holds ￿gUlar acts of worship. 51nce March 2020 these have been 3 mix of onllne worship 5ervites and In person services including seNices of Holy Communion, and Servlo5 of the Word. Each Sunday throughout 2020 there has one or both of these types of services held. As the Parlsh Church we strongly encourage keeping the major feast days of the Christian Church. Throughout 2020 we have held three srnall groups during the week. For most of the tlme these have met onllne rather than in person. Other groups have remained suspended. Mlnistry wlth young people has continued onllne led by our trained Youth Worker and newly appointed Youth and Chlldren's Leader. All Saints15 a member church of Churches Together in Truro. We have continued to host vttal community services such as the Cornwall Chlldren's Clothes Bank, Truro Foodbank and the financial crisis 5UPPOrt 5ervlce, Acts 435. Members of the church are part of the "Feedln8 the Homeless" team in Truro. part of the "Street Pastors. in Truro, and part of the °Food 8ank" team In Truro among other community oriented organlsatlons and charttable work. The PCC ￿lIeS heavily on the contrlbutlon made by volunteers to achieve Its alms. The onty people drawing a stipend are the Incumbent, and Assistant Curate. Since January 2016 the PCC has employed a part-time Adminlstrator. As part of the Transformln8 Mlssion project lin partnership with Truro Dlocesel a number of salaried appointments were made In 2020 by the PCC: Worship Leader121hrs a weekl. Operatrons Manager {35hr5 a wtekl. Soelal Justice Mi551oner135hrs a weekl. The PCC have two roles on payroll to SUPPOrt the Thè Ltfehou5e Projert. A fundraisin8 m•na8er116 hrs a weekl and Media and Communications Officer16hrs a weekl. The PCC seèks to 8ive J tenth of Its Income to other charitable causes. Such charitles are identified by the StandinB Commlttee and subsequently approved by the PCC. Currently thls 1$ achleved by providing accornmodation at reduced or no cost, as below. Use of bulldings in Ileu of Trthing (to Truro FoodbanK Christians against Poverty, the Parenting Course and Gulde5; and other groups viz Alcohollcs Anonymous, The Memory Café. 50B5. Cornw311 Children's Clothes Bank and Singing for the Brain, though payin& are Significant￿ subsidisedl Page 5 2020 REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNaL OF THE ECCLE51ASTICAL PARISH OF HIGHERTOWN AND BALDHU Achlevemen rfomiance The full PCC met six times during the year. Staff and Ministry team meetings were mostly weekly lonlinel During the year All Salnts Church has acted as a centre of worship and as a focu5 of community activity in the p4ri5h of All Sa5nts Hl8hertown and Baldhu. There were no marriages, no bapt15ms. and no conflrmation5 conducted at the church durln8 the year and two funera15 were held from the church building. There are 68 member5 on the Electoral Roll of the Parish. 14 funera15 were conducted from the Loca5 Crematorfum or nearby churches by the licenced cler8y of All Saints. Mrs Debbie Mitchell was licenced as a Lay Reader for All &iints Hi8hertown in October 202D. The average Sunday Church attendanee lin person) VRS 47 based on the few services we were able to hold. We Ilcensed i new pastoral minister to the pastoral mlnistry team. In Ortober 2020 Revd Patrick Gilbert was licensed as Assistant Curate to All Saints Hi8hertown & Baldhu. Revd Janette Mullert IAssi5tsnce Curate) was ordained as priest in Ortober 2020. 12,445 ralsed onllne to help 102 people through our Acts 435 advocate team. 20 people were helped with an emer8Èncy fund establlshed throu8h Act5 435. In 2020 the PCC adopted a new anti-raci5m policy. Th Investment 11 and ob We bank wlth the Co-operattve Bank plc. The ethical policy Is as follows- Human Rlghts- WÈ wish to ensure that money does not 80 to support oppressfve reBlmes- governments that fall to respect the basic politlcal rights and civll libertles of their citizens. Internatlonal Development--we expect businesses to respèct the Core Conventions of the Internatlonal Labour Organisation on issues such as child labour and freedom of a550Ciation. Ecologlcal Impact-we consider the issues of climate thange. waste. biodiversity loss and the release of harmful chomicals as environmental imperative5. NanotechnolO￿-_ there are concerns around its impact on human health and the environment. Anlmal Welfare~ -we will not finance any or8anisation Involved in anlmal tesiirsg of cosmetic or household products or thelr Ingredients, intensive farming, blood sports or the fur trade. Pl s f r future Over the course of the next 3 years we wlll seek to develop our church as a place where we and others can hear the call of Jesus. and tO8ether, take the coura8eous Path of answerin8 H15 call. Through devotlon and obedience to God we wlll seek to learn a pattern of church life that wlll help people to learn about Jesus. to grow more like Him and to share His teachings wlth oth@rs. We will sustain our re8ular pattern of worshlp that provldes an opportunlty for growth, as Page 6 2020 REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsncAL PARISH OF HIGHERTOWN AND 8ALDHU the wlder communlty grows, We will continue to hold Bible Study Groups and Confirmation courses. to help people make that first step In their journey wrrh Jesus. We will develop more opportunities for people to attess home groups and to encourage everyone In thelr deepenlng relatlonship wtth Jesus through prayer. Durln8 2021 and through to 2025 we will be commltted to deveboping our prayer life corporately and to nurture our Ilfe as a body of dlsciples. We wlll continue to develop a distintt and special ministry to help encourage and bless our youn8 people and youn6 families Sn their journey with Jesus. We wlll seek to encoura8e a mutual under5tandln8 that there are a varlety of 81ft5. and that all are valued hlghly In Go￿$ service. As a churth. we will commit to encouraging one another In our glfts, and to support one anoiher in using them. The character of All Saints Ss the foundation ol our existing church community, this wlll continue to be what we build upon. It Is the fatthful servlce of so many members of the church community that allows us to be more ambitiOU5 in other areas such as community engagement with our partners. and Transforming Mission and the Truro Lifehouse prolect. The PCC has a strong desire to see the charatter of All Saints permeate èll aspects of It5 life including new in5tlative> such as the Ufehou5e and Transft)nnlng M15slon. The chararter and purpose of All Saints will continue to be a Christ centred. Spirit-led. growing church that proclalms the love of God. In word and deed, to the people of Truro and beyond. It will continue to keep the Eucharist at the heart of its lrfe. And therefore. we will be returnin8 to a regular pattern of In person seNices that reflect the An8llran roots of our worshlp and the Eucharlstically Evèn8elical Iword and sacrament) character of our worshipping life. as soon a5 we are Safely able to do so, within the Euidelines provlded by the Government and Church of England. We will remaln a church communlty that 5trlves to welcome all in the love of God. As we strive to do this we will reco8nlse that there are slgnificant gaps in our life, showing the need to better welcome those who are sadly under- represented in our church communlty. A5 we do thls we will come to reaffirm our commitment to being a diverse community of people that will undoubtedly expre55 its dlverslty In many ways. Our love for Jesus and for one another will be what makes us Church. The pastoral and ministry teams will continue to share the important work of bulldln8 UP the church. Our clergy- Jeremy* Janette and PatricK are supported by our licenced Lay Reader, Debbie, our Pastoral Mlni5ters - Jane B. Avril, Rowley, Christine, Shirley, and Daphne a5 our Dlrertor of Prayer. all supported by Jane our Churthwarden. Kirsty a5 Parlsh Admlnistrator. and the encouragèment of Revd Rosemary Radcltffe and her mlnistryi and the prayers of sandra Lawrence TSSF, and the PCC. All Salnts will further deepen Its prayer life and stuty together- continuing to keep a daily routine for mornln8 prayer and develop regular points in the church Calendar when people can use the buildin8 as a place for reflectlon and prayer. We wlll look to be a church that Is partnered with others in miss5on both here and overseas. And to be a church recognised for its care of creation. We will continue to work on redeveloping our community and church buildin85 SO they are better sulted to the needs of our 8rowln8 tommunity. This will be managed by the PCC and will be under the workln8 title of the Lifehou5e Project. A speeific bank account was set up to serve this aspect of our misslon. and we wlll hope to move to constructlon of thi5 new bullding In 2021. Revd Jeremy Putnam Incumbent Page 7 2020 REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COLINCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU Flnan¢i l Revlew Non prolect lunre5tricted and desi8natedl income has Increased compared to 20191£68,308 - 2020- £67,804- 20191, This is mainty attributable to two one off donations to general funds of £5,(XK) each I£IO,C#JO totsll. This has been of great help during a year of COVID 19 lockdowns leading to a loss of income from collertion and general fund ralsln8 Ictivitles. Non project (unrestricted and designated) costs have also increased slightly compared to 20191£72.578- 2020: £68,482- 20191. This is mainly due to an increase in MMF contrlbution5. There has been a reallocation of Go5t5 Qf the project worker trainlng now allocated wtth other trnlning costs into church running expenses lapprox. £2.1001 This has led to a deficit on day to day operatiortal 8Ctivities of £4.270 comyred to a loss of £958 on operational activities Inon project) for 2019. There h¥5 been a sl8nlficant increase in stsff number5, Particularly within the Transformin8 Mission Project which, added to an increase in tran5attions across the other projects including The Lifehouse. Is causing an additional workload and a continued streamlining of payment processes for and by the Treasurer. Karen Harris PCC Treasurer Page 8 Ktyulil ANU ALWUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIA5tICAL PARISH HIGHERTOWN AND BALDHU Independent Examiner'5 Report to the Trustees of the E¢deslastlcal Parish of Highertown and Baldhu I report to the charity trustees on my examination of the accounts ofthe charity for the year ended 31 December 2020 which are Set out on pages 10 to 17 Responsibilities and basls of report As the charitvs trustees you are responsible for the preparation of the accounts In accordance with the reqLJirements of the Charities Art 20111'the Art'l. I report in respect of my examination of the chartvs accounts carried out under section 145 of the Act and in carryin8 Out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llb) of the Act. Independent examlnerfs statement Since the tharitvs gros5 income exceeded £250,CKX) your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualrfied to undertake the examination because l am a member of ICAEW, whlch is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connertion with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity a5 required by section 130 of the Act,. or 2. the accounts do not accord with these records; or 3. the account5 do not comply with the applicable requirements concerning the forni and Content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than anv requirement that the account5 give a 'true and fairvie￿ whith is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connettion with the examination to which attention should be drèwn in this report in order to enable a proper understanding of the accounts to be reached. Slqned Nome Mark Williams FCA DChA Addre55 Peat House RRL LLP Newham Road Truro TRI 20P Dote oil Page 9 ZUZQ REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 Unrestilded Funds Unrestritted DeS￿nated Fund5 RestrKted Fvnds To¢4 2020 2019 Notes INCOME AND ENDOWMENTS Voluntsry income Actiwtpe5 for8eneratI￿ furn4$ ChurchktNfti IfKornelrom Irwestments TOTAL INCOME lal Ibl 1¢) Idl 5859) 208,054 266.644 126,913 1,616 21,720 41 9,697 15 68302 9.697 23 276,364 208,056 150.290 EXPENDITURE Church activitie5 Piokrt Costs Ctsst of ralslngfvr>Js TOTAL EXPENCITURE 2a) 2bl 2¢) 72.578 72,578 IYl,472 68,180 213,625 282 282,087 191,472 72578 191,472 264.050 NET INCOME I IEXPENDITUREI 142761 16.584 12,314 1131,7971 TOTAL FUNDS BROUGHT FORWARD 35.971 1,422 184,6591 147.2661 84,531 TOTAL FUNDSCARRIED FORWIAD 3L05 168,075) IY,9521 147,2661 Page 10 2020 REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU BALANCE SHEET AS AT 31 DECEMBER 2020 2020 2019 Notes CURRENT ASSETS Debtors and prepayments Deposits Bank 5a) 5b) 5b) 9.409 7.678 70.094 87.181 4.881 7.655 48,485 61.021 TOTAL ASSErs LIABILITIES Credltors fallin8 due wSthin one year Credltors falling d¥Je over one year TOTAL NEf LIABIIITIES 6a) 6bl 22,133 loo.000 134.952) 8.287 loo.000 147,266) PARISH FUNDS Unrestrlrted Unrestrlcted Desl8nated Restrirted io io io 31.695 1,428 {68.075} 134.9521 35,971 1,422 184,659) 147,2661 Approved by the Parochlal Churth Coundl on 28 April 2021 And slgned on Its beh•lf bv . CIL(iVJ Slgned Karen Harrls Treasurèr 518ned Jane Tomlinson Trustee Slgned Rowley Surrld8e Tntstee Pa8e 11 2020 REPORT AP40 ACCOUNT5 FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGMERTOWN AND BALDHU NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES Ba515 of flnanclal st*ements The financial statements have been prepared under the Church Accounting Re8ulations 2(KJ6 in accordance with applicable accounting 5tandard5 and the current Statement of Recommended Practice Accounting and Reporting by Ch3ritieg SORP IFRS1021. The financial 5tatement5 have been prepared under the historital c05t convention except for investment assets, which are shown at market value. The financial statement5 include all transaction5, assets and liabilities for which the PCC is responsible in law. They do not Include the accounts of church groups that owe their 3ffili3tion to another bodv, nor those that are Informal gatherings of church members. The Charity has taken advantage of the provisions in the SORP for charities applylng FRS 102 not to prepare a statement of Cash Flows. Goln8 Concern The consideration of the flnanclal ￿sItion of the PCC is largely re13tin8 to the103n repayment ¢ornmitments within the Lighthouse project, and irs light of the recent lockdowns and reduced income from hall and room hire it should be noted that the PCC has been artive in mitigatlng against the potential pressures around making the loan repayments wh5ch were due to start March 2021. Noted in the mlnutes of the Llfehouse Committee Meetin8 held on the 18th February, an a8reement had been ￿a(hed with the Di0￿san Board of Finance to delay the first payment by 12 months to 31st March 2022. The PCC noted this in their meeting hèld on 24th February 2021. The PCC also recognised the ongoing pressures of a reduced income from our h3113nd connerting rooms duÈ to the lockdowns, and the impact thls was havln8 on our finonclal commitments. With thi5 in mind the PCC agreed a proposal put forward to suspend our voluntary contributions of E3.592.33 each month to the Diocesan Mission and Ministry Fund. This is to be reviewed at out PCC meeting in September. With these actions in p13ce the PCC has confidence that, as the restrictions lift and we reopen the church buildin& the income levels necessary to sustain our current activities will return. There are now no oncerns over the PCC'S ability to keep to our financial commitments for 2021. Fund accountlng Endowmentfund5 are funds, the capital of whlch must be retsined er(her pernianent￿ or at the PCC'S discretion,, the income derived from the endowment is to be used elther as restrirted or unrestrirted income funds depending upon the purpose for which the endowment was estsbli5hed. Restrictedfunds comprlse lal income from endowments which is to be expended only on the res¢rlcted purposes intended by the donor and Ibl revenue donations or grants for a specific PCC activity intended by the donor. Any balance remainin8 unspent ot the end of eath year must be carried forward as a balance on that fund. The PCC does not usually Invest separately for each fund. Where there is no separate investment, interest 15 apportioned to indlvldual funds on an average balance bas15. Unrestrirtedfvnds are income funds whlch are to be Spent on the PCC'5 geneial purpose5. Unrestrltted Oe5iqnotedfunds are general unrestrirted funds that have been desi8nated by the PCC for a particular purpose. Income Planned giving, collertions and similar donations are reco8ni5ed when due. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacie5 are accounted for when the PCC is entitled to the use of the resources. their ultimate receipt is considered probable ènd the amounts due are reliably quantlfiable. Expendlture Grants and donations are accounted for when paid over. or when awarded, if that award creates a binding or construttive obligation on the PCC. The Diocesan parish share expected to be paid over is accounted for when due. All other expenditure is generolly recognised when li 55 Incurred and is accounted for gross. Page 12 ZOZO REPQRT ANO ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU NOTES TO THE FINANCIAL STATEMENTS (cont) Reserves Pollcy The Pollcy for the General Account is to maintain reserves at the level ￿presented by 6 month5. estimated expendlture, excludlng expendlture on meetin8 the Diocesan Mission and Ministry Fund liability and any charitable Iving. Flxed assets Consecrated and benefice property is not included In the accounts in accordance with s.101211al and Icl of the Charities Act 2011. Other fixed assets are captsllsed at a cost over E3,CKK) and depreciated on a 5trai8ht Ilne b3515 over 5 years Current A$5•ts Short term deposits include cash held on deposit wlth the CBF Church of En8land Funds Pa8e 13 LVIV KtVURI ANO ACCOUNT5 FOR THE PAROCHIAL CHURCH COUNCII OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHV NOTES TO THE FINANCIAL STATEMENTS (cont) INCOME AND ENDOWMENTS Unrestrlcted Funds Unrestrkted Desl8nate Funds Restrfcted Fund5 Total 2020 Total 2019 l al Volunt•Yy In¢vrn• Glft donatlons Tax Recoverable Other Planned Glvlrt8 18.874 5.713 6.104 1.230 17.111 9558 I8￿74 5.713 6.104 1.230 32.363 202.360 19,209 9.206 6.509 3,180 30.322 54,813 3.674 126.913 als 15.252 192.802 208.054 266.644 Ibl Cost5 of fundralslnq 1.616 Churrh and hall hlre fees Cler8y fees- weddln8s/luner•ls 7.628 2.069 9,697 7.62R 2.069 9.697 19.393 2,337 21.720 Idl minv Ger•eTal D*pos1ts F¥b￿C Fund Car Paik Fund 15 26 li 23 41 Tot•1 Incom• 69.302 208.056 276.364 150.2YJ EXPENDITURE Unrestrfrt•d Funds Un￿strIrted Desl8nated Fund$ Restrlcttd Funds Total 2020 2019 Z •) Church A¢tlvltles Mlnlstry .' Oiocesan p4rfsh share Other mlnlstry costs church Runnlng and Malnten•nc• hurch fteDair5 Upkeep ol SerWces Hall Runnln8 Cost5 Youth Worker Charltable Don•tlons Independ*nt Examlnatlon Fee 42.282 3.015 15.432 570 42.282 3.015 15.432 570 4511 3￿39 2.179 37.382 2,984 13,512 1.24$ 2.538 4.937 4.294 38 1250 fj8.180 3339 2.179 1.250 1.250 Fund Ralslng Costs 282 282 Proje¢t 10..10 TransfominE Mlsslon Acts 435 CRRNIMl8rants Fund Oth•r Pfolect Costs 125.847 49.803 14.209 1.613 125.847 49.803 14.209 1.613 191,163 4￿13 9A81 7,096 1.172 191.472 191 4?2 213 62S Tot•1 Resources Exo•nd•d 191 472 282 Page 14 2020 REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL pAR￿N OF HIGHERTOWN AND BALDHU NOTES TO THE FINANCIAL sfATEMENTS (cont) STAFF COSTS TI)ts12020 ?Q19 3 *) Staff ROmtsrtew*￿0n and $￿•1115 Wases and s•larie5 Nl lemr*JyeraT¥J empb)¥eel Pension costs lemployEr orKJ err•)yee) Receipts MMRC Totsl St•ff Costsibw•nts 7.111 66N74 73385 9234 31915 2.628 631 13.4561 77261 13,456 85,rA)s 7,742 37231 Averdge court There are ThD Staff rrtmber5 who ret*Wo￿rEfAlm￿ lft Stsff bertrrts ￿•r 3 bl P•ymentsto PCC member* ITN•th•s' p•ym•ntsl ParishNOmlnistrator5Eood th*wn 85 a PCC V*mber ffnffleelon IOOctot*r 2020 Staff costs and b•nefits pah4 durir¥ her time as a PCC Mtrnber to £6J9912019.. E5A191 No payThents or ￿Mu￿13t10TlWe￿ ￿defOrt￿ benefit of arry Ot1￿￿TrUme￿ RELATED PARTY TRANSAcfioNS CURREprf ASSErs Total 2020 2019 Furxts 5 •1 D•tsts￿ •nd pr*p•yrn•nts Debtor 9.026 383 4￿1 S bl 8•nk •nd C•sli Oewsits Lloyds & Co-operat 4J81 IA29 542 51D13 51555 7,678 70.CP34 77.772 7,655 48A85 56,140 I9.￿1 24,789 L42B LIABILITIES 641 Amounts falknrdue on• v&•rl•l untslrktsd fvnd*l Tot¥1 2020 2019 Fund5 Fur* Fees for Occasklnal ofiKes owedto 0￿ceSe Surn5 OW•d bur not ye1 paid Inde￿ndErn eX*nOnat￿Tr Electricity 240 1.197 205 1.250 102 1.250 102 263 ChLwch Admlnlrtration upkeep Churchy•rd Hall IrKom¢ In *tt4arte Tr•ihi 207 67 67 576 232 585 312 733 S76 Archltetts. er￿r￿S al￿ constharts 19.630 19.630 19.630 22,133 3.303 8.287 2.503 6 bl Amounts due •ft•ron•y••rl•lr•*¢rkt•rtfvnds) Imtefest frw DIocrJen lO•n.LWtl￿Uxe ProiÈ Loan trorn Ok>cesan Bgardof FiThirKt Itd. Ini¢rest free, ¥eplyir*rtd￿ from 1022. Tr) securriv rea￿le 6cl Oper*ttng Lease Comm*m•nt InJur* 2019 the charfty entered inro a 3 ￿ro￿at1* kasè ona ¢opiorlscarfftr At year end th¢re wa3a baLryrKeou￿a￿1I￿rfon it& J•)£• ebmfftilM•Nt tl.142 The Outsta￿[￿ commr(mert is payab* wn*4Th￿foltr0WIr4ti1r￿ w¥od5 NDS R•Itrt¢t￿ in¢lu(le the Llfehouse ProiecL Acfs43S {•#ent &teOuntl. ABCMF Unrestr1¢￿ o•*n•tWl Fun01 include C•r Park Fund STATEMENT OF FINANCIAL AcnvmES Unrnstricieil Funds Unrestri¢ted DÈ51qDat•d Ilestrfcted Tot•1 2020 2019 Funds INCOMÉ ANO ENDOWMENTS Volvntary Income Aitlvltbes for 8en*r•tlw fuhds Church ActhAtI*s Ineome from Inve$tments $8.$50 208.054 266.644 126.513 1.616 21.720 41 9.697 15 9.697 23 TOTAL INCOME 68302 208.056 276J64 150.290 EXPENDITUA Church •¢tlvltle$ Project Costs Cost of ralslni lunds TOYAL tXPENfiTUftE 72.578 72.578 191J72 68.180 213,625 281 282.087 191.472 72578 191 72 264.050 NET INCOME / IEXPENDITVREI 76 16.594 12Jl4 1131.797) FOflWARD 35,971 1.412 (84.6591 (47.2661 84.531 TOTAL FUNDS CARRIED FORWARD 31.695 1.418 161.075 134.952 47.266 SUMMARY OF FUND MOVEMEN Unrestricted Funds IJNestr6cted D¢sl8n8ted Total 2020 2019 Fund5 Incomln¢ resourc•s Llfehou5e WOJect Acts 435 Transfomln8 MSssk*n Other prglects 68A02 68.310 142.999 14,159 49.803 1.093 67.804 65.795 8.796 4A13 142.999 14.IS9 49￿3 lJ193 R•wuYcu t￿•nded Llfehous• project Acts 435 Tr•nsfDrmln8 Mlsslon Oth•r proF*crs C725781 172.5781 1125,84?) 114,2091 149.8031 11.6131 168.4621 1191,1631 19,3811 14.8131 18,2681 1125.8471 114,2091 149A031 11,6131 N•t (ÉAp•ndltur•} / incom• 14.2761 16584 12.314 1131.7971 Balan¢* It l J•nu•w 2020 3S.971 XA22 (￿.￿>91 147.2661 84.531 b•l•nte •t 31 fi•c•mb•r 2020 69$ .075 34.952 47.266 Restricted Funds net liabfjllty balance IrKIth £1￿.(0) kjnq t@mi loan du* to DIoe•Mn Uè•rd tsf Plfwn¢• Ltsl (5*e noEe 68b) Fvrther project funds are experted to ènsijre repaympnts from 2022 Llfehouse Proiett resources exper￿ed rnclud• £75.934 12019.. £154AOSI on wn5utt•nts' fees io SUMMARY OF A55Efs BY FUND Unr*stricte¢l Fund5 UnY*strlct•(I Oe*nated Restrtcted Fvnds Total 2020 2019 Deposits Cash Currert assets Cury•nt Ll•tylllt1•5 Lort8Term Ll•bllltl*¥ 5.708 .081 9.409 I2￿03) 1.428 S42 Sl.013 7ffj78 70A194 7.655 48.485 4.881 18.2871 100,oc I19￿30¥ 1co.ooo 68,075 122.1331 ioo.cxjo ¥952 3¥695 &4 Page 16 £U£V n¢YUN l Aflu ALLvvf4 1> Imt VAKULHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HIGHERTOWN AND BALDHU NOTES TO THE FINANCIAL STATEMENTS (cont) li PENSIONS The charity a5 an erybyer partKlpates in pe￿￿n 8wlder st￿MÈ 5ectionof CWPFfor L4VStaff. The Is adrninlrtered tythe C￿r¢hOl Ertyr￿ per6￿￿$ Board,whi¢h knkls t￿ asSetsOft￿ Xhen￿ st￿rnIety from t￿se of tl Eryloyer èrKI the Ot￿r ￿rtICIpati￿¢mPkn￿Tr Tr C￿r¢￿ Worker5 pe￿iDnfu￿J W a 5ecth)n krw as Wir*d BerEfits khewt, a dEferred ar￿ttY sectw)Th krDwnas Per&￿ft 8INbJpr CjaSs￿ arl a cash ￿LIT￿*S0￿￿￿ kTr)wn as Pen5h?n Builder 2014. The penS￿n Builder Scherne of tho Cknrrh Workers Pe￿10￿ Furbj 15 made up of Sert￿￿. Pension 8ullder Chssic Ind PensKJn Builder 2014, th bblts¥Ke x￿rrE th•t thai ￿rni￿r$ ￿e w proTrAUE L*r*I￿5 al relI￿n￿￿. Pefi5vJn c0ntrftArtio￿1 a￿ recorded iTr•n arcountfor each ￿rnter. account mty bJrwse5 oth*d Board before relirernem. The bon(us depend on lrnostmert experie￿ and Ot￿TfaCtOrs. T￿re w1￿￿ntforl￿ Board to8rant arry ￿NSes. •ccouri Flus aay ￿r￿e5 deckred. b Pa￿t1P frvm mernber¢ Nom*1 Pen5bn*. T￿re suIHIMsk+nofassets beiweeThffnkty￿ in each se￿ort ofihe pe￿￿Tr WIder￿n*. The xl*rne IJ consklered to bt a ￿tt￿m[￿o¥erSt￿￿￿* a5 deKribed inSectNin 28of FRS 102. Tlis i4 bet¥￿ h LE Th)t wj5￿b1e io attr[b￿e the Bullder Schernrfs •ssetsaThl Its￿l￿t￿$t0 specfficempkn￿ •r¥J mearts tl¥t coffldbJtK)rsa￿ acojumed foyas If the Sche1￿ were a defin¢d contrfbutk)n The per&b￿C9sts£hIIvd to tPe S)FA Inthe￿Orale the contrfWrs PaYdtAe a) folk)wk' Unrestricled Restricted Total 2020 2019 General Furds LlfetKJUse WORCt Trar&fomilr8Mtsslon 631 631 679 2535 1473 2535 1473 Avaluation of fv pe￿10Th Bulhlers¢tr￿ ￿ can*d out D￿e eN*rythe• ¥*ats. The wasurried out as it 31 December 2016. A¥al￿tIon as at 31 Decerntei 2019 w¥$ ur¥JerwayoS •t 31 Decerrthr2020. Fort￿ Persion B￿lderC￿sS￿ sectlon, the valuatlon revoalad a defielt of £14.2rn ont￿ orwir¥•ssumptK)rts At rTr)s1 ￿ent ar4yJal ￿ew. 6oardclw r*)t to grant a discretionary b)rMJ5. which will ha%E acted to inwove ￿ ftllbJiT¥ T￿re is ￿ rewiren*nt fordefKit paymeAts •t twrent tin*. Fortr* Persh?n Bullder 2014 sectiory the ￿luatiON re¥*abed • gJrylu50f £1.8m ontre ov1rya￿Yrnk*k?rts wed. Tre￿ i5 Tr) requlrerr*nt fc+rdefkh It the ¢urrErttlnE. Tk leBal structure Oft￿ schèn* ￿ swhth3t11 •￿th￿r•￿•10￿vfal& tht ehrity coukl be¢•me reswn5th lor pawry o Sho￿ of t￿1 emplo￿¢S I￿￿11t￿. Page 17