# **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: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## **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: - accounting records were not kept in accordance with section 130 of the Charities Act or - the accounts do not accord with the accounting records. 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 - 1 - ## **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 - 2 - **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) ………..…………………….……….……… - 3 - ## **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. - 4 - ## **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| - 5 - ## **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|| - 6 -