**REGISTERED CHARITY NUMBER: 1181133** 

## **REPORT OF THE TRUSTEES AND** 

**FINANCIAL STATEMENTS FOR THE PERIOD 1[ST] JANUARY TO 31[ST] DECEMBER 2021** 

**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES** 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 DECEMBER 2021** 

The PCC of St Mary and St Peter, Staines was registered with the Charity Commission on 12[th] December 2018 and the Rev Jonathan Aptin Samadi was installed and inducted as Vicar on the 26[th] September 2019. 

The Charity’s working name is: St Mary and St Peter, Staines. 

## **Administrative information** 

St Mary and St Peter, Staines is a united benefice in the Diocese of London, within the Kensington area, the Archdeaconry of Middlesex and the Deanery of Spelthorne. 

## **Trustees** 

All Trustees give their time voluntarily and receive no benefits from the charity, other than reimbursed expenses (See Note 9). New trustees are briefed shortly after their appointment on the responsibilities and duties of Trusteeship according to Charity law. 

Despite on-going Covid- related restrictions the 2021 APCM was held on the 16[th of] May 2021 in St Peter’s Church. 

The Trustees who have served on the PCC from the APCM held on the 16[th of] May 2021 until the date of approval of this report are as follows: 

## **Ex officio members:** 

Rev J Samadi Vicar A Leach Church warden St Mary J Williams Church warden St Peter’s R D Jennings Church warden St Peter’s (until September 2021) 

**Elected Deanery Synod members:** 

J Bental N Wood-Dow (until September 2021) 

**Elected members:** Up to 5 from each church: 

**St Mary:** J Espley R C Payne (Treasurer) C Salkield B Sanders 

**St Peter:** 

K Ellidge L Moulton (Vice Chair) W Ransom V Talkington (Secretary) C Squire 

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Registered charity number: 1181133 Principal Charity Office: St Peter’s Church Office, Laleham Road, Staines TW18 2DX Treasurer: Rebecca Payne ACMA Independent Examiner: Richard Longley FCA Principal bankers 

The parish’s main bank account is: 

HSBC, 34 High Street Walton-on-Thames Surrey KT12 1DDs 

The following bank accounts belonging to the previous Parish of Staines remained open during the period: 

HSBC Bank plc - 69 Pall Mall, London, SW1Y 5EY 

The parish’s reserves are held with: 

CCLA Investment Management Ltd – Senator House, 85 Queen Victoria Street, London EC4V 4ET 

A dormant savings account is held with CAF Bank 

## **Aim and Purposes** 

The PCC has the responsibility of cooperating with our Incumbent in promoting, in the ecclesiastical parish, the whole mission of the church, pastoral, evangelistic, social and ecumenical.  The PCC is responsible for the two churches: St Mary and St Peter; the management and maintenance of St Peter’s Hall, (owned by the LDF as Custodian Trustee for the PCC) including the hall flat; 5 Buckingham Court, an investment property which we own; Peterhouse, a former curate’s house, under the responsibility of the Diocese of London, but which is partially used by the PCC, Daybreak and FACT (see below) for office purposes and for which the PCC pays all the utility bills. 

The PCC also has responsibility for the care and maintenance of St Mary ‘s churchyard, which has been closed to new burials for many years, though space has been set aside for 

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the interment of cremated remains in the Garden of Remembrance. Under a long-standing arrangement under Section 215 of the Local Government Act 1972, Spelthorne Borough Council has taken over the maintenance of this closed churchyard and its boundary wall, with the exception of the Garden of Remembrance, which remains the responsibility of the PCC. 

## **Objectives and Activities** 

When planning our activities for the period, the PCC has considered the Charity Commission’s guidance on public benefit (section 4 of the Charities Act 2006) and especially the supplementary guidance for charities involved in the advancement of religion. 

The PCC seeks to promote, maintain, practise and increase belief in Jesus Christ, according to the doctrines and practices of the Church of England, within the Parish of St Mary and St Peter and further afield.  Our services are available to all who seek them; they put our faith into practice through prayer and scripture, music and sacrament.  We are committed to engaging with the wider community through pastoral care and missionary and outreach work. 

To facilitate this work, it is important that we maintain the fabric of both churches, their church halls and our other properties. 

## **Achievements and Performance** 

With the arrival of the Delta variant of the Covid -19 virus in December, the Parish started 2021 yet again with our churches closed.  However, we maintained an online presence with 2 services every Sunday, as well as online prayer meetings and coffee mornings.  The decision was taken to reopen our churches on Maundy Thursday 1[st] April.  After the Easter services a new patten of services was followed, with joint traditional services alternating weekly between St Mary’s and St Peter’s and a weekly Heaven @11 service at St Peter’s. 

From June onwards we were able to gradually reopen many of our pre-pandemic live activities: coffee mornings, SPAN Parent and Toddler, Alpha, and also hosted a new parent’s group on the lawn until more traditional organisations were able to resume activities. September brought the welcome return of the St Mary’s Open Day and on the 26[th of] September we were finally able to hold a Parish Barbecue on St Peter’s Lawn which marked the first time we felt able to hold a large social event. 

Not only did we pick up our existing activities but also looked towards the future by holding a Mission Action Plan meeting and starting up a Youth group, a monthly Parish prayer group, an International Women’s Group and a Home group, all of which have been very well attended. In response to a perceived need in the area we also started an Afghan Families’ Club which has offered much appreciated practical and moral support to the many Afghan families housed in Staines. At the end of the year, still aware of the risk of Covid infections, 

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a’ Casual Christmas’ was held in St Peter’s church – a hybrid concert/Christmas fair organised by the St Peter’s band. 

Further details of our activities will be found in our APCM booklet. 

Following the theft of plants from our newly planted West End Garden, it was decided to install CCTV around St Peter’s church and hall, in an effort to improve the general security around the area and to discourage any anti-social behaviour. The PCC also decided that a fitfor-purpose audio-visual system was urgently needed for St Peter’s Church and fund raising was started for this project.  We are very grateful to Allchurches Trust Ltd for the grant of £2250 which we were awarded towards the cost of the equipment.  Equipment has not yet been purchased but we expect this to happen in 2022. 

At the end of the year the PCC decided to change the format of our services to respond to the changing circumstances around us: to continue a traditional service at St Mary’s but to hold a more contemporary service, with a Junior Church at Peter’s.  This brought 16 years of Heaven @11 to an end and the PCC would like to express its thanks to all the leaders who served so faithfully from its inception until now. 

The PCC would also like to express its gratitude to our Vicar and Church wardens who willingly responded to the guidelines issued by the government and the Diocese in order to allow us to continue our worship throughout the year and even to expand our activities as the world opened up again. 

The APCM booklet also includes reports on organisations which have links to the parish but whose financial transactions are not included in the Parish’s financial accounts, namely: 

Daybreak, Deanery Synod, The Chaplaincy in Istanbul, FACT, Girl Guides, Brownies and Rainbows,  Spelthorne Young Voices, St Mary’s Bell Ringers, St Peter’s Bell Ringers. 

The Parish relies significantly on the support of volunteers who give their time generously to support the mission of the church in this parish.  These include the churchwardens and elected members of the PCC, a volunteer administrator, and our treasurer and Independent Examiner and we greatly appreciate the work they have done during another challenging year.  We would also like to express our gratitude to those people who maintained our gardens particularly during the period of lockdown. 

As the requirements of the Covid regulations have simplified the serving of Communion in our churches we have no longer had need of the services of our Eucharistic ministers, but it is hoped that, in time, their services will be used again.  However we still maintain full teams of vergers, sidespersons, musicians and singers,  readers and intercessors, coffee makers, bell ringers, flower arrangers and cleaners and we are grateful to them all for their contribution when our churches reopened. 

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## **Staff** 

Having relied on volunteer cleaners and the staff of St Peter’s Nursery to keep the hall clean during the period of lockdown, we were very pleased to welcome Stephen Anderson onto our team as Caretaker for St Peter’s Hall in September. 

We were very pleased to welcome Leanne Piggott, our Parish Administrator, back into the office in September and are very grateful to Viv Dover who worked during the lockdown to produce our orders of Service and to keep the basic office functions running. 

The PCC would also like to thank Wendy Ransom for continuing her role as Bookkeeper on a voluntary basis. 

## **Financial Review** 

2021 was another year of monitoring our income and expenditure in close detail.  Although we saw the impact of the Pandemic lessen, it was only in the last quarter that we started to see some level of normality return to our services, and to our key income from St Peter’s Hall, and we saw a net increase in income over expenditure. 

In the financial statements and summary below, an improvement has been made versus 2020, in terms of our net income over expenditure.  There are 5 main drivers: 

1. Common Fund Payment.  Our common fund payments have historically been in line with the Diocese recommendation, and in 2019 and 2020, we made the full payment of £85,200.  We made the difficult decision to reduce this payment in 2021, to get our finances into a position of break even or better.  Our Common Fund payment for 2021 was £70,000, a reduction of £15,200 v 2020. 

2. Salaried Staff.  Leanne remained on Furlough until September, and we able to claim for support from the government for this.  We also carried the Caretaker vacancy until September, when Stephen joined us. 

3. Donations.  We have received over £14,000 of donations this year, which is a significant increase v 2020.  Over £11,000 of these are for the Audio-Visual system required for St Peters. Details of these can be found in note 2. 

4. CCLA Fund gains.  We have seen a £13,148 gain on our restricted and unrestricted funds, held and invested with CCLA. 

5. Grants. We received 2 Grants in 2021, totalling £4,450. Details of these are found in note 5. 

All the above have enabled the Parish to get our finances back into a more positive position, however none of them are regular or sustainable forms of income or expenditure reductions, and we will continue to apply an appropriate level of focus and controls on our finances into 2022. 

In terms of our overall reduction in income and expenditure, we have also seen a significant reduction in our income for Manna.  In 2020, we transferred £39k to Manna, having received 

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over £20k of donations during the pandemic.  Although we did receive income from Manna during 2021, the levels were significantly lower.  There is a Manna summary at the back of the accounts. 

A split of our income and expenditure can be seen on the graphs below, and how it compares to 2020. 



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## **Financial Statements** 

Total income, before net gain on investments, for 2021 was £153,776 (down -£28,152 v 2020). This included £45,025 from investment income (St Peters Hall, St Peter’s Flat and Buckingham Court), £67,640 of income from Planned Giving, and Donations of £14,125. Details of income split can be found in Notes 2 to 5. 

The Parish made a net gain on investments of £13,148 from our 4 CCLA investments.  Details of investments held can be found in Note 14. 

Total expenditure for 2021 was £136,927 (down £72,234 v 2020).   This includes £70,000 spent on Common Fund.  Details of expenditure split can be found in Notes 6 and 7. 

## **Balance Sheet** 

During 2021, the Parish made a gain of £16,849 before net gains on investments.  After investments, the total gain was £29,997.  This has resulted in a combined fund balance of £1,121,289.  An analysis of the net assets between funds can be found in Note 17. 

## **Reserves Policy** 

The reserves Policy was approved by the PCC on the 14[th] November 2019.  The policy will be to hold in reserve: 

- The equivalent of two month’s general running costs 

- An additional one month’s salary costs 

- An agreed amount to cover unexpected matters raised during a Quinquennial inspection 

- An agreed amount to cover unexpected contingencies. 

Based on this, current reserves requirement is **£38,000** (2 months running costs of £20k, onemonth salaries of £3k, 10k for Quinquennial, and £5k unexpected).  Our current free reserves amount is £119,854. 

|The**free reserves**, is calculated as follows:<br>Unrestricted General Fund reserves:<br>Unrestricted Designated Reserves:<br>Less: Unrestricted funds which can only be realised|£990,552<br>£59,399<br>£1,049,951<br>by disposing of fixed assets held:<br>£(930,097)*<br>**£119,854**|
|---|---|



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## *£930,097 

£449,664 (St Peters Hall) 

£150,433 (St Peters Hall Flat) 

£330,000 (Buckingham Court) 

## **Structure, governance and management** 

St Mary and St Peter, Staines is a united benefice with a single PCC. The PCC is a body corporate, whose governing documents are: 

- The Parochial Church Councils (Powers) Measure 1956 as amended 

- The Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended 

Management of the PCC is delegated to the Incumbent, supported by a Standing and Finance Committee and an informally constituted Leadership team at each church. 

PCC members are appointed according to the Church Representation rules.  At St Mary and St Peter, the PCC consists of the Incumbent and a curate, if one is in post, up to 4 churchwardens, up to 3 Deanery Synod representatives and up to 5 lay representatives from each church.   2 co-options are allowed.  All those who attend our services and are eligible are encouraged to register on the Electoral Roll to enable them to elect representatives and to stand for election to the PCC and Deanery Synod. 

The Standing Committee consists of the Incumbent, the Churchwardens, the Vice Chair of the PCC and the PCC secretary and has the power to transact the business of the PCC between its meetings.  Proposals originating from the Standing Committee are taken to the following PCC for ratification. 

Each Leadership team is responsible for the day-to-day running of its respective church but has no legal or financial responsibility. Members are invited to join by the churchwardens or incumbent and the membership of the teams is confirmed at the APCM. 

Usually, all committees meet at least 4 times per year. 

The parish currently has the following polices in place: 

Appeals and Special Collections Banking and Stewardship Processes Clergy Expenses Data Protection Declaration of Interest Equal Opportunities and Grievance Procedure Ethical Investment Expenses sign-off Financial Windfall 

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Fire Safety General Investment Health and Safety Internal Financial Procedures Legacies and Plaques: Methods of Commemoration Lone Working Reserves Safeguarding Whistleblowing 

A Financial Risk Assessment is also in place as are Risk Assessments for both churches and halls. 

## **Related parties** 

There were no significant transactions between the PCC and its Trustees and any other related parties during the period, except for Clergy expenses.  These are reported in Note 12. 

## **Cooperation with other organisations** 

The PCC works with the following organisations for the benefit of the community in Staines: 

**The Staines Parish Community Care Trust** :  a registered charity (No: 1131827) known as Daybreak.    It was set up by the PCC of the Parish of Staines in 2008 to provide day respite care for older people and adults with disabilities and was established as an independent charity in 2008.  During 2021 Daybreak was closed, due to the national lockdown restrictions and concern about transmission of Covid to its vulnerable guests, from January until the 21[st of] September. Activities were resumed one day a week in St Peter’s church hall, supplied free of charge by the PCC in support of the project, as are office and storage facilities in Peterhouse.  Daybreak occasionally contributes towards the repair and maintenance costs of the hall. 

Rev J Samadi is a trustee (ex officio) as is the Archdeacon of Middlesex, the Ven Richard Frank (ex officio). 

**Spelthorne Young Voices** : a registered charity (No: 1127726) was established in 2003 to encourage and inspire young singers through the study, rehearsal and performance of choral music, whilst helping them to develop good musical habits, discipline and musicianship and to foster public musical awareness and appreciation. 

Spelthorne Young Voices rehearses and performs at St Peter’s Church without charge and makes periodic donations to the parish from its concert income.  They resumed use of the church on May 13[th] 2021. 

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Mr Colin Squire, a member of the PCC is a Trustee. 

**Faith Awareness in Children Trust (FACT)** : a registered charity (No: 1055843), which aims to advance the Christian religion, in particular through the education of children and adults. FACT pays a contribution towards the utilities costs to the PCC for the use of premises for its administrative offices. 

Mrs E Wood-Dow is a Trustee of FACT and spouse of Mr N Wood- Dow, a PCC member until September 2021. 

**MANNA Food Bank** has been an independent registered charity since March 2020. (No: 1188762) It provides food parcels, on referral from a variety of sources, including statutory and volunteer bodies as well as clergy and home/school link workers, for those in need within the Spelthorne area.    Certain standing order payments are still made into the Parish’s account despite on-going efforts to persuade the donors to transfer them to Manna’s own account.  We hope to have this situation rectified in 2022. 

Of the PCC members Mrs W Ransom serves on the Executive Committee as Treasurer 

Mrs E Wood-Dow is Chair and spouse of Mr N Wood-Dow, a PCC member until September 2021. 

**Staines Parochial Charity:** a registered charity (No:211653) was originally founded by Nathaniel Loane on 22[nd] July 1625, (apologies for the error in last year’s report) for the provision of grants or payments to persons in Staines who are in conditions of need, hardship or distress and has continued to this day. The PCC has no material transactions with this charity; however, PCC member (until September 2021) Mr N Wood-Dow is a trustee. 

## **SIGNED ON BEHALF OF THE BOARD OF TRUSTEES** 

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

I report to the Trustees on my examination of the accounts of the Parochial Church Council of the Ecclesiastical Parish of St Mary and St Peter, Staines (PCC) for the period 1[st] January to 31[st] December 2021 set out on pages 14 to 33. This report on the accounts of the PCC for the period 1[st] January to 31[st] December 2021 is in respect of an examination carried out under the Church Accounting Regulations 2006 (‘the Regulations) and the Charities Act 2011 (the 2011 Act). 

## **Responsibilities and basis of report** 

As the Charity Trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the 2011 Act’). 

I report in respect of my examination of the Trustees’ 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 2011 Act. 

## **Independent examiner's statement** 

During 2021, no transactions, revaluations or activities took place that require comment or additional focus. 

I have completed my examination. I confirm that, no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

(1) accounting records were not kept in respect of the PCC as required by section 130 of the Act; or 

(2) the accounts do not accord with those accounting records; or 

(3) the accounts do 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. 

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Richard K Longley ACA 207 Kitson Hill Road Mirfield West Yorkshire WF14 9DS 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 31[st] JANUARY - 31 DECEMBER 2021** 

|Notes<br>INCOME AND ENDOWMENTS FROM<br>Donations and Legacies<br>2<br>**Charitable Activities**<br>5<br>Core Activities<br>Grants<br>**Other Trading Activities**<br>3<br>**Investments**<br>4<br>**Total**<br>EXPENDITURE ON<br>Raising Funds:<br>6<br>**Charitable activities**<br>Church Activities<br>7<br>**Total**<br>Net gains on investment<br>NET (EXPENDITURE)/INCOME<br>Transfer Between Funds<br>NET MOVEMENT IN FUNDS<br>Total Funds Brought Forward<br>TOTAL FUNDS CARRIED FORWARD|Unrestricted<br>Funds<br>£<br>87,701<br>9,908<br>4,450<br>1,684<br>44,248<br>147,991<br>5,371<br>120,487|Restricted<br>Funds<br>£<br>1,417<br>3,592<br>0<br>0<br>777<br>5,786<br>0<br>11,069|31.12.21 Total<br>Funds<br>£<br>89,118<br>13,500<br>4,450<br>1,684<br>45,025<br>153,777<br>5,371<br>131,556|31.12.20<br>Total Funds<br>£<br>94,665<br>36,568<br>517<br>4,989<br>45,189<br>181,928<br>5,127<br>204,033|
|---|---|---|---|---|
||125,858|11,069|136,927|209,160|
||9,303|3,846|13,148|3,099|
||||||
||31,435|(1,437)|29,998|(24,133)|
||(3,674)|3,674|0|0|
||27,761|2,237|29,998|(24,133)|
||1,022,192|69,098|1,091,290|1,115,423|
||1,049,953|71,335|1,121,288|1,091,290|



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## **BALANCE SHEET AT 31 DECEMBER 2021** 

|**BALANCE SHEET AT 31 DECEMBER 2021**|||||
|---|---|---|---|---|
|Notes<br>FIXED ASSETS<br>Tangible assets<br>13<br>Investments<br>14<br>CURRENT ASSETS<br>Debtors<br>15<br>Cash at Bank<br>CREDITORS<br>Amounts falling due within one year<br>16<br>NET CURRENT ASSETS/(LIABILITIES)<br>TOTAL ASSETS LESSS CURRENT LIABILITIES<br>NET ASSETS<br>17<br>FUNDS<br>18<br>Unrestricted<br>Endowment<br>Restricted<br>TOTAL FUNDS|Unrestricted<br>Funds<br>£<br>998,149<br>998,149|Restricted<br>Funds<br>£<br>1,306<br>30,590<br>31,896|31.12.21<br>Total Funds<br>£<br>1,306<br>1,028,738<br>1,030,045|31.12.20<br>Total Funds<br>£<br>2,612<br>1,015,590<br>1,018,203|
||3,200<br>51,241<br>54,441|46,123<br>46,123|3,200<br>97,364<br>100,564|1,381<br>74,361<br>75,742|
||(2,636)<br>51,805|(6,684)<br>39,439|(9,320)<br>91,244|(2,654)<br>73,087|
||1,049,954|71,335|1,121,289|1,091,290|
||||||
||1,049,954|71,335|1,121,289|1,091,290|
||||1,049,954<br>1,022,191<br>71,335<br>69,099||
||||1,121,289<br>1,091,290||



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## **STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2021** 

||31.12.21|31.12.20|
|---|---|---|
|Cash Flows from operating activities:|£|£|
|Net cash provided by (in use) operating activites|23,003|(24,046)|
||23,003|(24,046)|
|Cash Flows from investing activites|||
|Purchase of fixed assets|||
||||
|Cash Provided by (used in) investing activites|||
|Change in cash and cash equivalents in the year|23,003|(24,046)|
|Cash and cash equivalents at the start of the year|74,361|98,408|
|Cash and cash equivalents at the end of the year|97,364|74,361|
||||
|CASH FLOW NOTES|31.12.21|31.12.20|



|CASH FLOW NOTES|31.12.21|31.12.20|
|---|---|---|
||£|£|
|Reconciliation of net movement in funds to net|||
|cash flow from operating activities|||
|Net (expenditure)/income for the reporting|||
|period (as per statement of financial activites)|29,998|(24,133)|
|Adjustments for:|||
|Add back depreciation charge and disposal|1,306|1,306|
|(Gains)/losses on investment|(13,148)|(3,099)|
|(increase)/decrease in debtors|(1,819)|3,311|
|Increase/(decrease) in creditors|6,666|(1,431)|
|Net cash used in operating activites|23,003|(24,046)|
|Cash in hand|97,364|74,361|
|Total cash and cash equivalents|97,364|74,361|



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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1[ST] JANUARY TO 31[ST] DECEMBER 2021** 

## **1. ACCOUNTING POLICIES** 

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.  They have been prepared under FRS102 (2018) as the applicable accounting standards and the 2019 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)). 

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. 

The Charity constitutes a public benefit entity as defined by FRS 102. 

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern and the accounts should be prepared on a going concern basis. 

## **Grant policy** 

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when paid. Expenditure is generally recognised when it is incurred and is accounted for gross. 

## **Fixed Asset Investments (Property)** 

Investments are included in the Statement of Financial Position at their market value. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year-end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. 

The PCC purchased 5 Buckingham Court as an investment property in 2018.  This is now being treated as an investment property, with income from rent being classed as investment income. 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

St Peter’s Hall and Flat, for which the Parish are managing trustees, have been valued (using a Net Present Value) and are also now being classed as investment properties since 2019. Income from these properties is also included in investment income. 

SORP (IFRS 102) requires that valuations of land and building should be undertaken with sufficient regularity, for example on a rolling basis over a five-year period. It is therefore recommended that we get a valuation on the two investment properties in 2022 or 2023. 

Peterhouse is owned by the Diocese and therefore not recorded as an investment asset in our Accounts. 

## **Tangible fixed assets** 

Consecrated and benefice property is excluded from the accounts by s.10 (2)(a)&(C) of the Charities Act 2011. 

Moveable church furnishings are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory. The Vicar and Churchwardens hold Church furnishings on special trust for the PCC, which require a faculty for disposal, and are accounted for as inalienable property unless consecrated. They are listed in the church inventory, which can be inspected at each individual church. 

Tangible fixed assets for use by the PCC are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or else, for gifts-in-kind, at a reasonable estimate of their open market value on receipt. All items on consecrated and beneficed buildings and individual items costing less than £1,500 are written off in the year they are received. 

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life. 

|**Asset Category**|**Annual Rate**|
|---|---|
|Fixtures and fittings|- 25% on cost|
|Computers|- 30% on cost|
|Printing equipment|- 20% on cost|



## **Financial Instruments (Investments)** 

The Charity only has financial instruments of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

Investments with CCLA, held in both restricted and unrestricted funds, are included here, at their bid value on 31[st] December 2021. 

## **Cash at bank** 

This includes cash held by Parish organisations at the year-end where this has been reported to the PCC and is supported by bank statements. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid. 

## **Creditors and Provisions** 

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Funds** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose. These funds represent the income 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 a future project, and which are therefore not included in its ‘free reserves’. 

Endowment Funds 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 explained in Note 20. 

Restricted funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **2.  DONATIONS** 

||31.12.21|31.12.20|
|---|---|---|
||£|£|
|Donations|14,125|6,805<br>|
|Planned Giving and Gift Aid Envelopes|67,640|78,756|
|Loose Plate Collections|3,265|2,553|
|Gift Aid Reclaims|4,088|6,551|
|Legacies|-|-|
||89,118|94,665<br>|



As you can see, donations are up significantly year on year, totalling £14,125.  This number is split by General Donations, Specific Donations and Give as you Live (online).  We had over £12,000 of donations for specific purposes.  The split of these is below: 


**----- Start of picture text -----**<br>
Donations for Plants £580<br>Audio Visual £9,650<br>Online Services £1,300<br>CCTV £1,000<br>Heating £200<br>Alpha and Youth Fund £35<br>Total Specific Donations £12,765<br>**----- End of picture text -----**<br>


Our general donations for 2021 totalled £1,140.  We started to use the ‘Give as you Live’ payment app in 2021, and although not huge, the £220 that we have raised so far is a great start, and another form of income into the Parish. 

Planned Giving donations are down year on year, as we had 6 leavers from our PGS scheme throughout 2021.  The planned giving amount includes £815 of Manna donations, which will be transferred across to Manna in 2022. This is included in the Creditor balance in note 16. 

Loose plate (cash) continues to drop as a form of income, as we switch to more online payment, and direct debits. These totalled £1,351.  Goodplate donations are up versus 2020, by £844, totalling £1,914.  We took £833 of Goodplate collections during our Casual Christmas event, half of which are held as funds for the Afghan London Project. 

## **3.  OTHER TRADING ACTIVITIES** 

|Fundraising Events and Activities|31.12.21<br>31.12.20<br>£<br>£|31.12.21<br>31.12.20<br>£<br>£|
|---|---|---|
||1,684|4,989|
||1,684<br>4,989||



20 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

Fundraising throughout 2021 brought in income of just over £1,678, a significant drop v 2020, driven by the pandemic and our limited ability to take part in activity.  A split of income is below: 


**----- Start of picture text -----**<br>
Sale of St Peters Chairs £987<br>St Mary's Open Day £174<br>Home Group Coffee and Bar income £36<br>Casual Christmas £487<br>Total Fundraising Income £1,684<br>**----- End of picture text -----**<br>


## **4. INVESTMENT INCOME** 

|Bank Interest<br>Buckingham Court<br>St Peters Hall<br>St Peters Flat<br>Other Investment Income|31.12.21<br>31.12.20<br>£<br>£|31.12.21<br>31.12.20<br>£<br>£|
|---|---|---|
||-|17<br>|
||13,200|12,900|
||17,692|18,220|
||10,200|10,200|
||3,933|3,852|
||45,025<br>45,189||



It’s great to see St Peter’s Hall continue to bring in healthy income for the Parish.  Although still not at pre-pandemic levels, we are seeing regular weekly and monthly income from customers such as St Peters Nursery, Weightwatchers and Performance Academy. 

The 2 flats continue to bring in regular income.  We have had to pay for maintenance on both properties in 2021, with details provided in Note 6 (Raising Funds). 

Other investment income is Dividend income and final settlement payments from China Star. 

Note that Peterhouse is not included in investment income but included within note 5. (Rent from PCC property). 

## **5.  INCOME FROM CHARITABLE ACTIVITIES** 

|**Activity**<br>Grants<br>Grants<br>Church and Church Hall Letting<br>Core Activities<br>Rent from PCC Property<br>Core Activities<br>Weddings<br>Core Activities<br>Other Activities<br>Core Activities<br>Other Income<br>Other|31.12.21<br>31.12.20<br>£<br>£|31.12.21<br>31.12.20<br>£<br>£|
|---|---|---|
||4,450|517|
||1,514|1,616|
||2,640|2,640|
||1,986|1,343|
||3,395|2,336|
||3,964|28,633|
||17,949<br>37,085||



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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

We received 2 Grants in 2021.  One for £,2200 from the All Churches Trust, to go towards the Afghan Staines Fund, to be paid out in 2022.  The second grant awarded, also from the All Churches Trust, for £2,250, is to go towards our Audio-Visual system at St Peters. 

Church and Church Hall (St. Mary’s) letting remained in line with 2020 and Rent from PCC Property (Peterhouse) remained in line.  Other Activities is made up of Funeral income. 

In 2021, we continued to see donations for Manna, however these were not as great as the prior year.  The Manna donations for 2021 totalled £3,592 and these will be transferred across in 2022.  A summary of Manna funds can be found at the back of the accounts. 

## **6.  RAISING FUNDS and INVESTMENT MANAGEMENT** 

|Fundraising costs<br>Investment Management Costs|31.12.21<br>31.12.20<br>£<br>£|31.12.21<br>31.12.20<br>£<br>£|
|---|---|---|
||20|1,185|
||5,351|3,942|
||5,371<br>5,127<br>||



Fundraising costs for 2021 were minimal.  Management costs for PCC property upkeep increased by £1409.  Alongside the standard VAT and Commission costs for the 2 properties, we paid some additional costs for maintenance.  New carpets went into St Peter’s Hall Flat costing £3,512, which were well overdue. 

## **7. CHURCH CHARITABLE ACTIVITIES** 

|Wages and Salaries<br>Clergy Expenses<br>Common Fund - Lond Diocese<br>Church Activities<br>Church Running Expenses<br>Church Repairs and Maintenance<br>Church Hall Running (and other PCC properties) Expenses<br>Hall and Other PCC properties Repairs and Maintenance<br>Church office costs<br>Depreciation<br>Governance Costs|31.12.21<br>31.12.20<br>£<br>£|31.12.21<br>31.12.20<br>£<br>£|
|---|---|---|
||6,597|15,788|
||847|2,077|
||70,000|85,200|
||5,484|51,770|
||20,711|22,019|
||9,791|6,257|
||6,776|7,397|
||6,926|7,102|
||3,118|4,902|
||1,306|1,306|
||-|216|
||131,556<br>204,033||



22 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

Wages and Salaries saw another reduction year on year, by £9,191.  Leanne remained on Furlough in 2021 until September and while she was off, we continued to receive furlough grants (totalling £3,654).  The Caretaker role remained vacant until September when we welcomed Stephen Anderson to the Parish team. 

Church Activities spend was significantly down year on year, due to the reduced Manna funds received in year (£4,407 received in total for Manna). All income for Manna is netted off with a liability (creditor), to be paid out in 2022. See note 16. 

## **8.  GOVERNANCE COSTS (included in Church Charitable Activities)** 

|Independent Examiner Fees<br>Accountancy Fees<br>Architects Fees<br>Professional Fees|31.12.21<br>31.12.20<br>£<br>£|31.12.21<br>31.12.20<br>£<br>£|
|---|---|---|
||-|-|
||-<br>|-|
||-|-|
||-|216|
||-<br>216||



We continue to have our accounts managed and independently examined free of charge. 

## **9.  TRUSTEES REMUNERATION AND BENEFITS** 

All members of the PCC are Trustees. Trustees are not remunerated for their role as Trustee, however, members of the ministry team, who are ex officio members of the PCC, and employees who are elected or co-opted as members of the PCC, may claim expenses for that other work. 

During the period, Trustees were reimbursed for various operating costs of £1,355.32. Such expenditure related wholly and exclusively to the running costs of the Charity and not for any personal or group benefit. 

## **10. STAFF COSTS** 

|Wages and Salaries<br>Social Security costs<br>Pension Costs|31.12.21<br>31.12.20<br>£<br>£|31.12.21<br>31.12.20<br>£<br>£|
|---|---|---|
||6,126|13,601|
||-|1,473|
||471|714|
||6,597<br>15,788||



23 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **11. PENSION COSTS** 

The Charity has a defined contribution pension scheme, which all employees are entitled to join. The Charity contributes 3% and employees can contribute up to 5%. 

During the period ended 31 December 2021, no contributions were made to pensions, however costs were incurred for continued management of Furlough payments and general payroll management. These costs will be reclassified in 2022. 

The Trustees are satisfied that any foreseeable change in employer’s contributions can be budgeted for without detriment to the Charity’s on-going activities. 

## **12. TRANSACTIONS WITH MEMBERS OF THE PCC AND RELATED PARTIES** 

During the period, no payments were made to PCC members, except for £847 for clergy expenses.  The PCC is committed to reimbursing the expenses of parochial clergy in full in accordance with guidance issued by the Church of England. The properly reimbursable parochial expenses of clergy include postage; stationery; telephone; administrative assistance; maintenance of robes; hospitality; provision of locum; travelling, including related subsistence expenses; and in certain circumstances books, repair/replacement of carpets, chairs and other furnishings, and in-service training. In practice, many of these costs (including administrative assistance, provision of locum, and training), are borne directly by the PCC where required. 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **13.  TANGIBLE FIXED ASSETS** 

|**COST**<br>At 31st December 2020<br>Additions<br>Disposals<br>At 31st December 2021<br>**DEPRECIATION**<br>At 31st December 2020<br>Charge for the Period<br>Eliminated on Disposal<br>At 31st December 2021<br>**NET BOOK VALUE**<br>**At 31st December 2021**|Office<br>Equipment<br>Sound<br>Equipment<br>Totals<br>£<br>£<br>£<br>£8,394<br>£6,530<br>£14,924<br>£0<br>£0|
|---|---|
||£8,394<br>£6,530<br>£14,924<br>£8,394<br>£3,918<br>£12,312<br>£0<br>£1,306<br>£1,306<br>£0|
||£8,394<br>£5,224<br>£13,618|
|||
||£0<br>£1,306<br>£1,306|



Buckingham Court is reflected in Investments.  The Office Equipment has been depreciated at 20% since 2014 and remains at a zero value, reflecting the expected resale value of such old equipment. 

## **14. FIXED ASSETS AND INVESTMENTS** 

|MARKET VALUE<br>At 31st December 2020<br>Additions<br>Disposals<br>Revaluation<br>At 31st December 2021|£<br>£<br>£<br>£<br>£<br>St Peters<br>Hall<br>St Peters<br>Flat<br>Leasehold<br>Property<br>Unlisted<br>Investments<br>Totals<br>£449,664 £150,433<br>£330,000<br>£85,493<br>£1,015,590<br>£0<br>£0<br>£13,148<br>£13,148|
|---|---|
||£449,664 £150,433<br>£330,000<br>£98,641<br>£1,028,738|



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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

St Peters Hall and Flat were valued in 2019 based on a calculated Net Present Value and this has been maintained for 2021.  Buckingham Court remains in at purchase price.  It has been recommended from our Independent Examiner that we get a valuation in 2022, to support our valuations and Balance Sheet funds. 

Our Investments with CCLA have increased in value by £13,148 in 2021, with details of yearon-year movement split below. 

|**Unlisted Investments**<br>**Unrestricted**<br>CCLA Parish Reserves A<br>CCLA Parish Reserves B<br>**Restricted**<br>CCLA St Mary's Chancel Fund<br>CCLA Low Trust<br>**Total investments**|31.12.21<br>31.12.20<br>£<br>£<br>£37,226<br>£32,546<br>£30,825<br>£26,203|
|---|---|
||£68,051<br>£58,749|
||£6,361<br>£5,562<br>£24,229<br>£21,183|
||£30,590<br>£26,744|
|||
||£98,641<br>£85,493|



## **15. DEBTORS** 

|Gift Aid Claim (Q4)<br>Heating Donation<br>St Mary's collections<br>All Churches Grant<br>Casual Christmas|31.12.21<br>31.12.20<br>£<br>£<br>£0<br>£1,381<br>£200<br>£0<br>£313<br>£0<br>£2,200<br>£0<br>£487<br>£0|
|---|---|
||**£3,200**<br>**£1,381**|



Income was received in 2022 relating to 2021 and were prepaid accordingly.  The St Mary’s collections and Casual Christmas were banked in January 2021, and the Grant (for the London Afghan Project) which we were notified about in December 2021, was also banked in January 2022. 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **16. CREDITORS: AMOUNTS DUE IN ONE YEAR** 

||31.12.21|31.12.20|
|---|---|---|
||£|£|
|Trade Creditors|£3,188|£238|
|Other creditors and accrued expenses|£6,132|£2,417|
||**£9,320**|**£2,654**|



Trade Creditors is comprised of the following payable amounts: 


**----- Start of picture text -----**<br>
Organist Fee £60<br>Office Costs £108<br>Repair my PC (Security system) £969<br>St Mary's Organ £237<br>St Peters Organ £315<br>St Mary's Fuel £548<br>Chevron Alarms £101<br>Aroma Cleaning £850<br>Total Creditors £3,188<br>**----- End of picture text -----**<br>


Other Creditors includes £6,132 accrual for the Manna balance that was owed at year end. Payment will be made in 2022 to the Charity. 

## **17. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

||Unrestricted|Endowment|Restricted|31.12.21|31.12.20|
|---|---|---|---|---|---|
||Funds|Funds|Funds|Total Funds|Total Funds|
|Fixed Assets|||£1,306|£1,306|£2,612|
|Investments|£998,149||£30,590|£1,028,738|£1,015,590|
|Current Assets|£54,441||£46,123|£100,564|£75,742|
|Current Liabilities|-£2,636||-£6,684|-£9,320|-£2,654|
||£1,049,954|£0|£71,335|£1,121,289|£1,091,290|



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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **18. MOVEMENTS IN FUNDS** 

|**Unrestricted Funds:**<br>General Fund<br>**Designated Funds:**<br>General Fund Reserve<br>St Mary's General Reserve<br>St Mary's Eve Foster Legacy<br>Audio Visual Fund<br>Mission Activities - Mission Resources Fund<br>Mission Activities - Mission Grants Fund<br>Mission Activities - Parish Youth Fund<br>**Restricted Funds**<br>_Parish Mission funds_<br>Manna Food Bank<br>Parish Music Fund<br>_St Mary's:_<br>St Mary's Doris young Legacy<br>St Mary's Organ Fund<br>St Mary's Chancel Fund - income<br>St Mary's Chancel Fund - capital<br>St Mary's William ralph Low Trust - income<br>St Mary's William ralph Low Trust - capital<br>Repairs and Maintenance - SM Fabric Fund<br>_St Peter's:_<br>St Peter's Organ Fund<br>St Peter's Stained Glass Window<br>Repairs and Maintenance - SP Fabric Fund<br>TOTAL FUNDS|At 31.12.20<br>£|Net Movement<br>in Funds<br>£|Transfer<br>between Funds<br>£|At 31.12.21<br>£|
|---|---|---|---|---|
||975,075<br>5,666<br>23,551<br>14,264<br>0<br>0<br>535<br>3,100|20,743<br>4,623<br>0<br>0<br>11,900<br>(1,491)<br>4,071<br>25|(5,591)<br>(8,144)<br>1,625|990,227<br>2,144<br>23,551<br>14,264<br>11,900<br>134<br>4,606<br>3,125|
||1,022,190|31,435|(3,674)|1,049,951|
||0<br>6<br>1,197<br>897<br>4,096<br>5,562<br>5,421<br>21,184<br>1,356<br>26,893<br>2,487<br>0|0<br>0<br>0<br>(237)<br>162<br>800<br>616<br>3,046<br>602<br>(315)<br>0<br>(6,110)|(437)<br>(1,655)<br>(344)<br>6,110|0<br>6<br>1,197<br>223<br>4,258<br>6,362<br>6,037<br>24,230<br>303<br>26,234<br>2,487<br>0|
||69,099|(1,437)|3,674|71,337|
||||||
||1,091,290|29,998|0|1,121,288|



28 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **19. MOVEMENT IN FUNDS – CONTINUED** 

|**Unrestricted Funds:**<br>General Fund<br>**Designated Funds:**<br>General Fund Reserve<br>St Mary's General Reserve<br>St Mary's Eve Foster Legacy<br>Audio Visial Fund<br>Repairs and Maintenance - SM Fabric Fund<br>Repairs and Maintenance - SP Fabric Fund<br>Mission Activities - Mission Resources Fund<br>Mission Activities - Mission Grants Fund<br>Mission Activities - Parish Youth Fund<br>**Restricted Funds**<br>_Parish Mission funds_<br>Manna Food Bank<br>Parish Music Fund<br>_St Mary's:_<br>St Mary's Doris young Legacy<br>St Mary's Organ Fund<br>St Mary's Chancel Fund - income<br>St Marys Chancel Fund - capital<br>St Mary's William ralph Low Trust - income<br>St Mary's William ralph Low Trust - capital<br>Repairs and Maintenance - SM Fabric Fund<br>_St Peter's:_<br>St Peter's Organ Fund<br>St Peter's Stained Glass Window<br>Repairs and Maintenance - SP Fabric Fund<br>TOTAL FUNDS|Incoming<br>Resources<br>£|Resources<br>Expended<br>£|Gains and Losses<br>£|Movement in<br>Funds<br>£|
|---|---|---|---|---|
||131,235<br>11,900<br>60<br>4,771<br>25|(115,171)<br>(3,231)<br>(5,265)<br>(1,491)<br>(700)|4,679<br>4,623|20,743<br>4,623<br>0<br>0<br>11,900<br>(3,171)<br>(5,265)<br>(1,491)<br>4,071<br>25|
||147,991|(125,858)|9,302|31,435|
||4,407<br>162<br>616<br>602|(4,407)<br>(237)<br>(315)<br>(6,110)|800<br>3,046|0<br>0<br>0<br>(237)<br>162<br>800<br>616<br>3,046<br>602<br>(315)<br>0<br>(6,110)|
||5,786|(11,069)|3,846|(1,437)|
||||||
||153,778|(136,927)|13,148|29,998|



29 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **20. FUND DESCRIPTION** 

## **Unrestricted funds** 

The Parish holds unrestricted funds for its general expenditure, and from these the PCC can designate funds to specific purposes. The Parish currently operates designated funds for specified mission activities, and for fabric repairs and maintenance to its various buildings, and to retain any surplus income over expenditure at the period-end as a General Fund Reserve. Designated funds can be returned to the general fund, or designated to other purposes, by a decision of the PCC. 

All Parish unrestricted funds are held in the single **General Fund.** 

In 2021, there are 7 designated funds held by the Parish and are set up as follows: 

The **General Fund Reserve** was established at the start of 2013, from the £15,000 surplus of income over expenditure in 2012, with an additional £10,000 being transferred in 2014. As our Unrestricted General Fund has been running at a deficit in the year, we have had to use funds from the General Reserve Fund to cover general repairs and maintenance in the Parish. A total of £8,144 of expenditure came out of the reserve fund, offset partially by a gain on investment from our CCLA funds.  The Fund balance at the end of 2021 is £2,144 

The **St Mary’s General Reserve** was set up in September 2013 when the PCC designated £12,500 to be a general reserve for St Mary’s Church in anticipation of current refurbishment plans, since this sum derived from the income generated from one of the permanent endowment funds which historically belonged to St Mary’s (see details below in the Endowment Funds section). To this was added the closing balance of £427 from the former St Mary’s Church current account, and a share of the interest earned on the Parish deposit account during 2013. There was no income or expenditure in this fund during the year, and the balance at the end of 2021 is £23,551.  We anticipate using funds towards repairs to the clock and other refurbishment plans in 2022. 

**St Mary’s Eve Foster Legacy** : Evelyn Foster, a parishioner, died on the 11th of June 2015 and, under her Will she left £16,741 to the Parish with no restrictions having been applied. The Trustees have decided to designate this money and it will be spent on items that need addressing as detailed in St Mary’s Quinquennial Report. There was no income or expenditure in this fund in 2021, and the balance is £14,264. 

The **Audio-Visual Fund:** A significant amount of investment is required at St Peters to upgrade their audio visual experience for the congregation.  This fund was set up to hold the donations that have been made throughout the year, until such time that the appropriate AV system is selected, and we have sufficient funds.  A total of £11,575 was received in this fund in 2021. 

The Parish has 3 designated funds for mission activities: 

The **Mission Resources Fund** receives income from Parish organisations and fundraising activities, where the intention is to use the monies raised to support mission activity within 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

the Parish. Some of these funds are held by the leaders of Parish organisations to apply to their future activities. £1,491 was spent from this fund in 2021, (mainly on equipment for online services).  The fund also received income of £1,625 (from donations for Online equipment), and the balance at the end of the year is £134. 

The consolidated **Mission Grants Fund** was established during 2013 to retain all income from specific appeals and fundraising for third party charities and mission activities, and money transferred from general funds to support mission giving.  We received £4,071 in total for donations in 2021, for 3 third party charities: Istanbul, The Afghan Fund (Staines) and the Afghan Fund (London).  We received £1,015, £2,200 and £1,556 for these funds during 2021, and we paid out £700 to the Istanbul fund (raised in 2020).  The fund closing balance is £4,606. Payments will be made in 2022. 

**Parish Youth Fund** was originally formed in 2013 with the residual balance from the former Christ Church Youth Project, which closed in 2008, by agreement with the London Diocesan Fund who had funded the original project. This fund was restarted and is now available to support on-going youth mission activities within the parish. £25 was received during the period, and the closing balance is £3,125. 

## **Restricted funds – Formerly Endowment funds** 

## **St Mary’s Chancel Fund** 

This fund was established under the Tithe Act 1936 for the upkeep of St Mary Staines Chancel, with the removal of certain tithe liabilities for the upkeep of the chancel of the historic parish church. The fund is first for payment of fire insurance premium on the Chancel (estimated at 1% of annual insurance premiums for the church), and then for Chancel repairs. 

Funds are invested with CCLA and any gains or losses are allocated to this fund.  An £800 gain was made during 2021, and the investment fund balance is £6,362. 

## **William Ralph Low Trust** 

This endowment – known as the ‘Low Trust’ – was established in 1955 by Mrs Mary Low in memory of her husband, the late William Ralph Low, Architect and Surveyor, Citizen and Merchant Taylor, who lived in the Parish of St Mary Staines for more than sixty years, during which period he was for many years Vicar's warden of the Parish; The trust was originally “to support the promotion of the spiritual teaching of the Church of England in the Parish of St. Mary Staines”, but amended in 2001; the fund is now first to be applied by the PCC in payment of preachers other than the Incumbent and/or speakers to deliver sermons and/or give lectures in St Mary's Church or at such other venue as the Incumbent of the Parish shall determine; and second, at the discretion of the PCC, for the furtherance of ecclesiastical purposes in the Parish. 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

Funds are invested with CCLA and any gains or losses are allocated to this fund.  A £3,046 gain was made during 2021, and the investment fund balance is £24,230. 

## **Restricted funds** 

Restricted funds can only be used for the purposes for which they are given to the Parish. Legacies and donations given to a particular church without any further restrictions are available for general purposes but restricted to that church. 

The Parish has these funds split into three subcategories; Parish Mission Funds and the 2 churches, St Mary’s and St Peter’s; 

**Parish Mission Funds** formerly consisted of two restricted projects, one being Manna Food Bank, but this has now closed.  Funds were transferred to the newly set up Charity in 2020. Further funds were received in 2021, but these have been accrued to be paid in 2022, leaving the fund balance at zero. 

## **Parish Music Fund** 

The remaining restricted project, the Parish Music Fund, was established in 2013 following a donation from St Peter’s Choir of a sum to be used “for promoting in the Parish the whole mission of the Church, pastoral, evangelistic, social, and ecumenical, through music, at the discretion jointly of the Vicar and the Director of Music”.  No funds were received in 2021. 

## **St Mary’s Restricted Funds** consist of five specific restricted projects: 

## **St Mary’s Doris Young Legacy** 

Doris Young Legacy Fund contains the residual sum from a legacy from the estate of the late Doris Eleanor Young in 2007. It is available for future expenditure at St Mary’s. 

## **St Mary’s Organ Fund** 

No income was received in 2021 for this fund, but there was expenditure of £674, leaving a balance of £223. 

## **St Mary’s Chancel Fund - Income** 

This fund is linked to the permanent restricted funds and records any interest or dividends received from the original capital. This fund received £162 of dividend income and has a balance of £4,258. 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## **St Mary’s William Ralph Low Trust – Income** 

This fund is linked to the permanent restricted funds and records any interest or dividends received from the original capital. This fund received £616 of dividend income and has a balance of £6,037. 

## **Repairs and Maintenance – St Mary’s Fabric Fund** 

This fund is set up specifically for the upkeep of St Marys Church and Hall. 

**St Peter’s Restricted Funds** consist of three specific restricted projects: 

## **St Peter’s Organ Fund** 

This fund receives 60% of income from the proceeds of the annual “People’s Prom” at St Peter’s Church. No prom took place in 2021, and no funds were received, however there was expenditure of £659, leaving a balance of £26,234. 

## **St Peter’s Stained Glass Window Fund** 

This contains unspent income from an appeal for the repair of windows completed in 2007. The balance on this fund of £2,487 is maintained as a resource for any window repair costs identified as part of the Quinquennial inspection of St Peter’s Church. 

## **Repairs and Maintenance – St Peter’s Fabric Fund** 

Specific donations towards maintenance for St Peter’s Church and Hall are received in this fund. Expenditure of £6,110 was made from this fund, however no income was received, so funds were transferred from the General Fund Reserve (agreed by the Finance and Standing Committee during the year). 

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY AND ST PETER, STAINES 

## Manna Fund Transfer _Final balance 2020 and 2021 

During 2020, £39,451 was transferred across to Manna, an amount that was confirmed with the standing committee, PCC and Manna.  This represented the fund balance owed to Manna, to the end of August 2020. 

During the remainder of 2020 and throughout 2021, we continued to receive money, in the form of standing orders for Manna, which had not been cancelled or rediverted to the correct Manna bank account.  Below is the summary of the transactions since September 2020. 

We have gone through the same process as in 2020, as per below: 

1. The Manna Fund balance was confirmed on the balance sheet as £6,132.41 to end December 2021. 

2. The Parish Treasurer audited the Manna transactions and was comfortable with all income and expenditure recorded for Manna. 

3. The amount was confirmed and agreed with the Manna Treasurer. 

4. The amount was communicated to the PCC and they confirmed the transfer could take place. 

5. The money will be transferred across in March 2022. 

## 2020 Balance: 


**----- Start of picture text -----**<br>
Sept Oct Nov Dec Total<br>Income 455.00 695.00 820.00 912.00 2,882.00<br>-<br>Expenditure (1,117.09) (40.00) (1,157.09)<br>Balance (662.09) 655.00 820.00 912.00 1,724.91<br>2021 Balance:<br>Jan Feb March April May June July August September October November December Total<br>565.00 735.00 380.00 297.50 655.00 555.00 230.00 210.00 220.00 170.00 220.00 170.00 4,407.50<br>0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -<br>565.00 735.00 380.00 297.50 655.00 555.00 230.00 210.00 220.00 170.00 220.00 170.00 4,407.50<br>**----- End of picture text -----**<br>


Total to transfer in March 2022 is £6,132.41. 

This amount has been accrued in the 2021 accounts as expenditure and the fund balance for Manna in the accounts is zero. 

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