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2020-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF ST OSWALD'S, GRASMERE

Financial Statements for the year ended 31st December 2020 Charity number: 1181346

THE PAROCHIAL CHURCH COUNCIL OF

ST OSWALD'S, GRASMERE YEAR ENDED 31ST DECEMBER 2020

CONTENTS Pages
Independent Examiner's Report 1
Receipts and Payments Account 2
Statement of Assets and Liabilities 3
Notes to the Financial Statements 4 to 6

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF ST OSWALD'S, GRASMERE

FOR THE YEAR ENDED 31ST DECEMBER 2020

I report on the accounts for the year ended 31st December 2020 which are set out on pages 2 to 6.

Respective Responsibilities of Trustees and Examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with our examination, no material matters have come to my attention which gives me cause to believe that in any material respect:

I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Ian Thompson (ICAEW) Saint & Co Chartered Accountants The Old Police Station Church Street, Ambleside Cumbria LA22 0BT

……………………….. Date

THE PAROCHIAL CHURCH COUNCIL OF

ST OSWALD'S, GRASMERE

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

RECEIPTS AND PAYMENTS ACCOUNT
RESTATED
UNRESTRICTED RESTRICTED
TOTAL
UNRESTRICTED RESTRICTED
TOTAL
YEAR ENDED 31 DECEMBER 2020
YEAR ENDED 31 DECEMBER 2019
RECEIPTS NOTE FUNDS
FUNDS
FUNDS
FUNDS
£
£
£
£		 FUNDS
FUNDS
£
£
Voluntary receipts 5a 17,066
12,037
29,103
28,573		 152,383
180,956
Church activities 5b 2,470
0
2,470
7,104		 0
7,104
Activities for generating funds 5c 2,494
0
2,494
6,460		 0
6,460
Investment income 5d 16,773
107
16,880
17,626		 208
17,834
Other receipts 5e 0
0
0
35,635		 0
35,635
TOTAL RECEIPTS 38,803
12,144
50,947
95,398		 152,591
247,989
PAYMENTS
Mission giving and donations 6a 510
300
810
1,285		 0
1,285
Church activities 6b 43,735
23
43,758
63,639		 69,373
133,012
Cost of generating funds 6c 963
0
963
3,174		 0
3,174
Costs of investment income 6d 0
0
0
0		 0
0
Other payments 6e 0
0
0
0		 0
0
TOTAL PAYMENTS 45,208
323
45,531
68,098		 69,373
137,471
EXCESS OF RECEIPTS OVER PAYMENTS/
(PAYMENTS OVER RECEIPTS) (6,405)
11,821
5,416
27,300		 83,218
110,518
Transfers between funds 0
(35,635)		 35,635
0
CASH & BANK BROUGHT FORWARD 29,867
189,399
219,266
38,202		 70,546
108,748
CASH & BANK CARRY FORWARD £23,462
£201,220
£224,682
£29,867		 £189,399
£219,266

The statement of assets and liabilities on page 3 and the notes on pages 4 to 6 form part of these financial statements

THE PAROCHIAL CHURCH COUNCIL OF

ST OSWALD'S, GRASMERE

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

STATEMENT OF ASSETS AND LIABILITIES

RESTATED RESTATED
UNRESTRICTED RESTRICTED
TOTAL
UNRESTRICTED
FUNDS
FUNDS
FUNDS
FUNDS
£
£
£
£
NOTE
31 DECEMBER 2020
31		 RESTRICTED
TOTAL
FUNDS
FUNDS
£
£
DECEMBER 2019
CASH & BANK 3
Bank current accounts 11,639
175,819
187,458
13,112		 164,105
177,217
CCLA CBF Deposit Fund 9,647
9,647
14,588		 14,588
Carlisle CBF Deposit Funds 2,176
25,401
27,577
2,167		 25,294
27,461
23,462
201,220
224,682
29,867		 189,399
219,266
OTHER MONETARY ASSETS
Aegon General Investment Account 116,389
116,389
105,000		 105,000
CBF Investment Fund - Income shares
(Rector and Churchwardens' Account) 17,993
17,993
16,072		 16,072
COIF Charities Investment Fund units
(Grasmere School War Memorial) 915
915		 850
850
134,382
915
135,297
121,072		 850
121,922
FIXED ASSETS RETAINED FOR CHURCH USE
Fixtures, fittings & equipment 0 0
INVESTMENT ASSETS
Gingerbread shop 2 140,000
140,000
140,000		 140,000
140,000
0
140,000
140,000		 0
140,000
LIABILITIES
None identified 0 0

These financial statements were approved by the Parochial Church Council on the ………………………………….. and signed on its behalf by:

David Wilmott (Minister)

………..…………………….……….………

John Rickman (Treasurer)

………..…………………….……….………

THE PAROCHIAL CHURCH COUNCIL OF ST OSWALD'S, GRASMERE

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

1. The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations using the Receipts and Payments basis.

2. The Gingerbread shop is subject to revaluation

3. The movements in cash and bank funds during the year were:

RESTRICTED FUNDS
Held in CBF deposits
Eileen Hall Building Maintenance
Organ Fund
Blake Piano Maintenance
Fabric Fund
Summer Choir Fund
CW Wordsworth Bequest
Grasmere School
Held in bank accounts
Organ Fund
Church Tower Fund
Meeting area in church
Donation for churchyard maintenance
Collections for giving
UNRESTRICTED FUNDS
Designated Reserve:
Rector and Churchwardens
- held in CCLA deposit
- held in bank account
General Reserves
- held in CBF deposit
- held in bank account
TOTAL FUNDS		 BROUGHT
EXCESS
CARRY
FORWARD
RECEIPTS
PAYMENTS
(DEFICIT)
TRANSFERS
FORWARD
£
£
£
£
£
£
16,188
69
69
16,257
5,908
25
25
5,933
1,741
7
7
1,748
549
3
3
552
346
1
1
347
482
2
2
484
80
0
80
113,100
11,737
(23)
11,714
124,814
1,005
0
1,005
50,000
0
50,000
0
0
300
(300)
0
0
189,399
12,144
(323)
11,821
0
201,220
14,588
59
59
(5,000)
9,647
2,701
505
(1,818)
(1,313)
5,000
6,388
17,289
564
(1,818)
(1,254)
0
16,035
2,167
9
9
2,176
10,411
38,230
(43,390)
(5,160)
5,251
12,578
38,239
(43,390)
(5,151)
0
7,427
29,867
38,803
(45,208)
(6,405)
0
23,462
219,266
50,947
(45,531)
5,416
0
224,682

4. Restated comparatives

The 2019 Receipts and Payments accounts only reflected transactions on the unrestricted general bank and CBF accounts and the Rector and Churchwardens’ bank and CCLA accounts. We have therefore restated the 2019 figures which now include transactions on the restricted CBF deposits and bank accounts, which had substantial income and expenditure relating to the Organ and Tower Funds in particular.

THE PAROCHIAL CHURCH COUNCIL OF

ST OSWALD'S, GRASMERE

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 (continued)

RESTATED
RECEIPTS YEAR ENDED 31 DECEMBER 2020
YEAR ENDED 31 DECEMBER 2019
5a VOLUNTARY RECEIPTS UNRESTRICTED RESTRICTED
TOTAL
UNRESTRICTED
FUNDS
FUNDS
FUNDS
FUNDS
£
£
£
£		 RESTRICTED
TOTAL
FUNDS
FUNDS
£
£
Church collections 3,378
300
3,678
9,101		 9,101
Sundry donations 220
11,737
11,957
1,233		 81,973
83,206
Collecting boxes 2,905
2,905
15,325		 15,325
Gift aid tax 563
563
2,914		 12,702
15,616
Donation from Diocese being part
proceeds from sale of Rectory 0 50,000
50,000
Legacies 10,000
10,000		 0
Grants - vat scheme 0 7,708
7,708
17,066
12,037
29,103
28,573		 152,383
180,956
5b CHURCH ACTIVITIES
Wedding and funeral fees 2,470
2,470
7,104		 7,104
2,470
0
2,470
7,104		 0
7,104
5c ACTIVITIES FOR GENERATING FUNDS
Bookstall 784
784
4,500		 4,500
Parish magazine advertising 1,710
1,710
1,960		 1,960
2,494
0
2,494
6,460		 0
6,460
5d INVESTMENT INCOME
Investment property rent 16,200
16,200
17,010		 17,010
Interest 573
107
680
616		 208
824
16,773
107
16,880
17,626		 208
17,834
5e OTHER RECEIPTS
Aegon General Investment Account drawdown
0
35,635		 35,635
0
0
0
35,635		 0
35,635
TOTAL RECEIPTS £38,803
£12,144
£50,947
£95,398		 £152,591
£247,989

THE PAROCHIAL CHURCH COUNCIL OF

ST OSWALD'S, GRASMERE

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020 (continued)

RESTATED RESTATED
PAYMENTS YEAR ENDED 31 DECEMBER 2020
YEAR ENDED 31 DECEMBER 2019
6a MISSION GIVING AND DONATIONS UNRESTRICTED RESTRICTED
TOTAL
UNRESTRICTED
FUNDS
FUNDS
FUNDS
FUNDS
£
£
£
£		 RESTRICTED
TOTAL
FUNDS
FUNDS
£
£
Home mission/church societies 510
300
810
1,285		 1,285
and secular charities
510
300
810
1,285		 0
1,285
6b CHURCH ACTIVITIES
Ministry: Parish Offering 24,000
24,000
21,000		 21,000
Clergy expenses 2,320
2,320
3,013		 3,013
Church:
Organist and choir 2,895
2,895
7,046		 7,046
Organ maintenance 379
23
402
1,947		 1,947
Repairs, maintenance and renewals 3,278
3,278
6,297		 69,373
75,670
Heating and lighting 2,457
2,457
2,944		 2,944
Insurance 3,728
3,728
3,986		 3,986
Parish office rent 0
3,060		 3,060
Weddings and funerals 807
807
1,536		 1,536
Services and fees 2,087
2,087
9,683		 9,683
Printing and stationery 245
245
986		 986
Other expenses 1,539
1,539
2,141		 2,141
43,735
23
43,758
63,639		 69,373
133,012
6c COST OF GENERATING FUNDS
Parish magazine printing 963
963
3,174		 3,174
963
0
963
3,174		 0
3,174
6d COSTS OF INVESTMENT INCOME
Investment property costs 0 0
0
0
0
0		 0
0
6e OTHER PAYMENTS
0
0
0
0		 0
0
TOTAL PAYMENTS £45,208
£323
£45,531
£68,098		 £69,373
£137,471