# **PAROCHIAL CHURCH COUNCIL OF ST JAMES THE GREAT, CRADLEY**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
**The Parochial Church Council of the Ecclesiastical Parish of St James the Great, Cradley is registered as a charity in England and Wales number 1190026**
## **INDEX**
|Aim and Purpose|1|
|---|---|
|Objectives and Activities|1|
|Achievements and Performance|2|
|Financial Review|5|
|Reserves Policy|6|
|Investments|6|
|Volunteers|6|
|Administrative Information|6|
|Structure, Governance and Management|6|
|Independent Examiner’s Report
|8|
|Financial Statements|9|
|Notes|10|
## **CHURCH OF ST JAMES THE GREAT, CRADLEY**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31[ST] DECEMBER 2020**
## **Aim and purposes**
Cradley Parochial Church Council (PCC) has the responsibility of co-operating with the incumbent, the Reverend Robert Ward, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
The PCC is also specifically responsible for the maintenance of the Grade II* church of St. James the Great, Cradley, Herefordshire.
## **Objectives and Activities**
The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at Cradley. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship seek to bring people closer to God through Word and Sacrament, prayer and music.
When planning our activities for the year, the incumbent and the PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable everyone to live out their faith as part of our parish community through:
Worship and prayer; learning about the Gospel; and developing their understanding and trust in God. Provision of pastoral care for people living in the parish
Mission and outreach work
The Diocese of Hereford (of which we are part) has identified four strategic priorities in its shared vision of Proclaiming Christ and Growing Disciples:
1. spiritual and numerical growth
2. enriching the life of the community
3. re-imagining ministry (i.e. shared and collaborative ministry)
4. working towards financial sustainability
The PCC has taken all of these into account, and will continue to do so in the coming year;
To facilitate this work, it is important that we maintain the fabric of our church building. In December we received the final certificate from our architect at the end of the defects retention period with respect to the major repairs carried out in 2019, which will ensure the building can continue to serve future generations, and provide enhanced facilities that will make it suitable for wider community use. The churchyard remains open for burials - residents and anyone who dies in the parish are entitled to be buried there, whether they attended church or not – and during the year we continued to develop parts of this as spring and summer wildflower areas. We have also worked in partnership with various organisations, for example, by holding a fundraising event jointly with the Village Hall Committee. Much of the giving by members of the congregation and other supporters is on a planned basis, and this held up well; although we were limited in the fundraising we were able to do because of the COVID-19 pandemic, we were able to meet our increased offer to the diocese for the year. Further reference is made at appropriate stages in this report.
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The PCC has due regard to appropriate legislation and governance best practice, and during the year confirmed its policies and procedures in respect of Safeguarding children and vulnerable adults, and the General Data Protection Regulation.
## **Achievements and Performance**
## _Worship and Prayer_
The PCC is keen to offer a range of services during the week and over the course of the year that will be beneficial and spiritually nourishing for our community. In recent years Evening Prayer has been said in church on a weekday evening, providing a quiet, intimate and reflective environment for worship. This has moved 'on-line' during those periods recently when public worship has been suspended due to the COVID-19 virus. On Wednesday mornings Holy Communion is normally celebrated using Common Worship. A prayer and bible study group has met monthly on a Monday, during the daytime. On the first Sunday of each month the opportunity is usually provided for informal worship at the Family Service with music provided by Jimmy’s Band of up to eight adults and children. The band also plays, in more normal times, for the Christingle Service on Christmas Eve. On the second and fourth Sundays contemporary forms of liturgy are used at the Parish and Family Communion services. In 2017 a simple form of Morning Worship which could be lay led was introduced; this has continued to thrive, when worship in church has been possible, establishing a wide range of speakers from within and beyond the congregation. When there is a fifth Sunday in a month the three parishes in the benefice come together for a “gathered service”, which may be formal or informal in nature; if non-Eucharistic, a said service of Holy Communion is celebrated, at a different time, in one of the churches in the Benefice.
Restrictions imposed in March because of the COVID-19 pandemic meant that changes to the pattern of worship were necessary. While the church was closed for public worship, services were live streamed from the Rectory. They continued to be live streamed once public worship was resumed, and it was encouraging to see the number of people from the Benefice and far beyond, who joined via the internet or telephone each Sunday, often numbering over seventy. A smaller number, typically around a dozen, joined Evening Prayer (using the Book of Common Prayer) on-line, on Wednesday evenings, again from the whole Benefice.
The Local Ministry Group through its regular meetings, and in other ways, continues to support the planning, implementation and review of church activities across the benefice, offering and providing help and encouragement to the PCCs of the three parishes with their identified priorities. The group helps to promote lay involvement generally in the life of the churches, a key part of diocesan priority 3, and some members of the group have taken a regular and active role in leading lay led worship, in ensuring the continuation of our worship on-line, and developing our outreach through electronic and social media.
As well as our regular services, we enable our community to celebrate and thank God at the milestones of our journey through life. At baptism we thank God for the gift of life and celebrate the start of our journey as children of God. In marriage, public vows are exchanged with God's blessing and through funeral services friends and family express their grief, giving thanks for the life which is now complete in this world and commending the person into God's keeping. In our church and churchyard during the year there were seven funeral and thanksgiving services. The Rector also officiated at five other services at the crematorium. For much of the year the holding of occasional offices was restricted. We did celebrate three weddings, though others have had to be deferred, along with baptisms.
All are welcome to attend our regular services. At present there are 68 persons on the Church Electoral Roll, of whom six are not resident within the parish. From March onwards we were not able to hold public services in church because of the restrictions imposed by the government in response to the COVID-19 pandemic, and
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so services for the whole Benefice were live streamed from the Rectory each Sunday. When at the end of August we were again able to hold services in church we continued to live stream them, and many of the congregation preferred to join us from the safety of their own home. The average number of people physically attending Sunday services in the church during the year, 23, is therefore not truly representative. It is difficult to know exactly how many people participated in our live streamed services on line or by telephone, but we do have a record of the number of connections that were made each time both by computer and by telephone, and so we can make a reasonable estimate of the total. We know that we were regularly joined by people living as far away as Anglesey, Scotland and Wiltshire. A socially-distanced Christingle service held in the churchyard on Christmas Eve attracted over one hundred people, and the Remembrance service was also well attended.
With diocesan priority 1 in mind, a parish survey was held in the early part of the year, with a questionnaire being delivered to every house in the parish. Unfortunately, the restrictions imposed on meetings meant that we were unable to follow this up, but it is hoped that in 2021 we will be able to explore ways of improving our communications with the wider community. The parish has its own Facebook page as well as a website, and a weekly communication similar to the paper copy traditionally available in church is distributed electronically.
Cradley church has a SATB choir of around ten people who normally sing at two services a month including a choral communion setting at the Parish Communion; it is affiliated to the Royal School of Church Music. It was not possible for the choir to meet or sing at services from March onwards, though individual choir members have latterly been able to assist the singing on-line. We also have a fine ring of bells, which were rehung and augmented from six to eight at the Millennium. We currently have a group of six active bell ringers of our own, and with the help of ringers from Mathon we usually manage to ring at least six bells for the main services each Sunday, but again we have been unable to do this since March.
## _Deanery Synod_
The PCC has three seats on the Deanery Synod. This provides the PCC with an important link between the parish and the wider structures of the church. The Rector has been Rural Dean since September 2013, and Sheila Mullaney, a member of Cradley congregation and a former Diocesan President of the Mothers’ Union, was Lay Co-Chair of the Deanery Synod until December 2020.
## _Pastoral Care and Enriching the Life of the Community_
Diocesan priority 2 recognises the important role of the church, and its members, in enriching the life of the community.
The Chair of Governors of Cradley Primary School, a Church of England VA School, who is also responsible for Safeguarding issues, is a member of the PCC. The Rector sits on the Governing Body ex-officio. There is a small active branch of the Mothers’ Union in the benefice, which currently has ten members, and since February has been unable to meet in person, but has occasionally met online, an experience valued by many.
The clergy and/or members of the Three Villages Visiting Group offer to visit members of the community who would appreciate a visit or are unable to get to church, and to take Communion, if appropriate, either at home or in hospital. Many individuals have taken part during the recent pandemic in a volunteer support scheme set up by former Cradley GPs Bruce and Sarah Herriot, in collaboration with the Rector.
The Rector is Chairman of the committee that produces a monthly community Newsletter for Cradley, Mathon
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and Storridge. This keeps our parishioners informed of important matters affecting our church as well as reporting on the numerous other organisations in the villages. The PCC is grateful to the committee, and all of its volunteer helpers. Although it was not possible to distribute hard copies for most of the year, publication continued via the internet. A limited number of paper copies were made available, some from the churches, for those without internet access.
The PCC is responsible for maintaining the churchyard in good condition; during the year there were four burials, and three burials of ashes following cremation. For the first time in more than 45 years no grant was received from the Parish Council to partly offset the cost of employing contractors to cut the grass in the churchyard to the north side of the church. The PCC extends its thanks to the dedicated volunteers who continue to keep the lawn to the south side of the church in such neat order, and to all of the other volunteers who take responsibility for specific areas of maintenance. We have continued to develop parts of the sloping area on the north side of the church as spring and summer wildflower areas, to increase biodiversity whilst offering a much needed refuge for our native wildlife. A flower bed close to the main entrance to the church is maintained by children from Cradley Primary School, and attracts favourable comments.
## _Mission and Evangelism_
Helping those in need is a demonstration of our faith. Some mission giving is organised on a benefice-wide basis, including by frugal lunches in Lent, the number of which was limited by the COVID-19 lockdown, though other methods of fundraising are being developed.
The church is in the Malvern Hills Area of Outstanding Natural Beauty, and has arrangements with the AONB Partnership, and Herefordshire and Worcestershire Earth Heritage Trust, for them to provide information and displays in our church as part of our commitment to involvement and partnerships within the community. This also encourages local tourism and, alongside leaflets and literature recently sponsored by the National Lottery Heritage Fund and produced as part of the recent development project, brings visitors into the building, including local people who may not otherwise enter it. Brown tourism signs directing people from the main roads to the church and village hall have recently been provided as part of the same project.
Mission Action Planning (MAPping) is a useful tool in establishing where we are going and how we are going to get there. Rather than the focus being solely on the document itself, it is intended that MAPping should be a way of working which continually develops as the church grows both spiritually and numerically in accordance with diocesan priority 1. An annual Benefice Planning Day has been held, and the agendas set by these for the benefice as a whole have been pursued at the meetings of the Local Ministry Group. Planning is regularly reviewed by the three PCCs, and assistance offered by the Local Ministry Group.
Donations at the Lent lunches and talks raised £405.00, which was divided equally between two charities, one operating overseas and one at home. The donation to the Salvation Army (£202.55) was specifically for its work with people in need by its Malvern corps; Embrace the Middle East is a Christian development charity tackling poverty, injustice and reconciliation between communities, in the Middle East. Special collections held for other charities amounted to £877.10
## _Ecumenical Relationships_
Members of all three parish churches in the benefice and Cradley chapel (which belongs to The Countess of Huntingdon's Connexion) form Christians Together, which holds monthly meetings.
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## _Church Fabric_
During 2019 major repairs were carried out to the tower roof and masonry, the floor in the north aisle was replaced and a new kitchen installed. In December we made the final payment to the main contractor at the end of the defects retention period.
A new distribution board was installed to conform with the requirements of an electrical inspection carried out in December 2019, and a number of broken roof tiles were replaced. This work was paid for from the prize money we received in 2019 as the first winner of the Good Guardianship Awards, run by the National Churches Trust in partnership with The Pilgrim Trust. Other maintenance was carried out by volunteers with expenditure being limited to essential materials.
## **Financial Review**
The basis on which the financial statements have been prepared is set out in Note 1 on page 10. Total receipts and payments on unrestricted and restricted funds are shown in detail in the Statement of Financial Activities. For the year ended 31 December 2020, total income was £41,268 (£268,790 – 2019) and total expenditure was £48,356 (£281,037 – 2019).
Net receipts from fundraising events for general purposes amounted to £2,687, down by £2,394 on 2019. The largest contributor was the 100 Club at £850 net, and the Summer and Christmas Draws together raised £815. A Burns Night Supper run jointly with Cradley Village Hall Committee raised £286 for the PCC after expenses. Other events included a Treasure Trail which raised £280 and two Quiz Nights, kindly organised for the PCC by The Oak, Staplow, which contributed £281. Donations for refreshments after a short series of Sunday afternoon talks raised £173. Although these events were intended primarily to raise money, many of them also provide an opportunity for involvement in the local community. The COVID-19 restrictions meant that we were not able to hold our popular Sunday afternoon cream teas through the summer, and coffee after services could only be served for the first few weeks of the year. Other fundraising events, including a Summer Fair planned to be held jointly with the Village Hall, were either postponed or cancelled.
We contributed £29,000 to the Diocesan Common Fund, which pays for ministry and mission in our diocese, an increase of £1,000 on the previous year. We have pledged to contribute £30,000 in 2021.
The PCC again carried out only the minimum amount of routine repairs and maintenance to the church building, £1,618 of which was paid for from the National Churches Trust Good Guardianship Award that we won in 2019. There was further expenditure on activities to promote the heritage and wider use of the building, which were a condition of the grant funding from the National Lottery Heritage Fund.
The net result for the year was a surplus of expenditure over income of £1,762 on unrestricted funds before allowing for depreciation on the chairs and tables purchased in 2019. Including bank and deposit balances brought forward at the beginning of the year, the balances carried forward at 31[st] December 2020 on unrestricted funds totalled £28,848 of which £24,232 was in cash, current accounts and on deposit. For many years voluntary giving was insufficient to meet our contribution to the diocese. Since our successful stewardship campaign in 2017 this has been covered by planned giving, open plate collections at services, donations and the associated Gift Aid, but we continue to rely upon fees for weddings and funerals and fundraising events to cover the other costs of ministry and the running expenses of our large building and churchyard. For the first time in at least 45 years we received no financial support from the Parish Council towards the upkeep of the churchyard. The PCC tries to build on the help and guidance given by the diocese on encouraging giving within the wider context of Christian stewardship. 2021 will be another year of uncertainty, and fundraising events will inevitably be curtailed. Members of the Church family will again be
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asked to review the giving of their time and talents as well as their financial support. Diocesan priority 4 recognises the urgent need to become financially sustainable to resource mission.
Our thanks go to Howard Painter who has again very generously given his services as Independent Examiner of the 2020 finances _pro bono_ .
## **Reserves policy**
It is PCC policy to try to maintain a balance of unrestricted funds which equates to at least three months’ unrestricted payments, equivalent to about £11,000.00. It is held to smooth out cash flow and to meet emergencies that may arise from time to time. The cash and bank balances of £24,232 held on unrestricted funds at the year-end exceeded this target. The PCC also holds other funds that cannot be included as “free” reserves as they are held for restricted purposes. These represent the proceeds of donations and fund raising projects, including grants, for specific purposes.
## **Investments**
It is our general policy to invest our funds’ balances with the CBF Church of England Deposit Fund. The Dr Webster Fund however is invested in accumulation units in the CBF Investment Fund for the Church of England. Income is reinvested within the fund itself, and not distributed in cash to unit holders.
## **Volunteers**
We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is. In particular, we want to mention our Churchwarden Ian Bailey who worked so tirelessly on our behalf, and all the other members of the PCC for their valuable contribution to our ministry and for keeping the church running. In particular, we wish to thank Kevin Brewer for arranging and hosting the twice weekly live streaming of services. Unfortunately, Anne Freeman, our other Churchwarden, was unable to play an active role from March onwards due to health problems and shielding, and she stood down at our Annual Parochial Church Meeting, which was postponed until October. Our sincere thanks go to her for everything that she has done in five years in office, and to Di Roberts for stepping in as our new Churchwarden.
## **Administrative information**
The church of St. James the Great is situated in Rectory Lane, Cradley. It is part of the Diocese of Hereford within the Church of England. The correspondence address is The Rectory, Cradley, Malvern, WR13 5LQ.
The parish forms part of the United Benefice of Cradley, Mathon and Storridge.
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PCC members who have served from 1[st] January 2020 until the date this report was approved are:
|_Ex Officio members:_|||
|---|---|---|
|Incumbent:|The Reverend Robert|Ward
(Chairman)|
|Churchwardens:|Anne Freeman|(To APCM 26 October 2020)|
||Ian Bailey||
||Di Roberts|(From APCM 26 October 2020)|
|Diocesan Synod Member:|Ian Bailey||
|Deanery Synod Representatives:|||
||Tony Copp|(To 30 November 2020)|
||Sheila Mullaney|(To 30 November 2020)|
||John Sands|(To 30 November 2020)|
||Mike Hames|(From 1 December 2020)|
||Chris Roberts|(From 1 December 2020)|
|_Elected members:_|Sue Bailey||
||Eryl Copp||
||Margaret Edgar||
||Mike Hames|(To 30 November 2020)|
||David Helm|(Co-opted 16 November 2020)|
||Julia Maclagan||
||Sheila Mullaney|(Co-opted 16 November 2020)|
||Christopher Roberts|(To 30 November 2020)|
||Sue Ronan||
## **Structure, governance and management**
The Parochial Church Council is a corporate body established by the Church of England and was registered with the Charity Commission for England and Wales on 16 June 2020, number 1190026. The PCC operates under the Parochial Church Councils Measure. The method of appointment of PCC members is set out in the Church Representation Rules. At St. James’ the membership of the PCC consists of the incumbent (our Rector), Churchwardens and members elected by those members of the congregation who are on the electoral roll of the church.
The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. All members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC. The full PCC met three times in person and once online during the year, with an average level of attendance of 75%. Business was also transacted by email. Given its wide responsibilities the PCC has several committees and working parties, each dealing with a particular aspect of parish life. These committees, which include churchyard, outreach and events, repairs and development, and worship are all responsible to the PCC; their reports are received by the full PCC and discussed as necessary.
|The following officers|served during the year:||
|---|---|---|
|Lay vice-chair:|Anne Freeman|(To APCM 26 October 2020)|
||Mike Hames|(From APCM 26 October 2020)|
|Treasurer|John Sands|(To APCM 26 October 2020)|
||Chris Roberts|(From APCM 26 October 2020)|
|Secretary|John Sands|(To APCM 26 October 2020)|
Approved by the PCC on 12 April 2021 and signed on its behalf by the Reverend Robert Ward (PCC chairman)
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## **Independent examiner’s report to the trustees/members of the Parochial Church Council of St James the Great Cradley**
I report on the accounts of the Trust for the year ended 31 December 2020, which are set out on pages 9 to 13.
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 2011 Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section145(5)(b) of the 2011 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 my examination, no matter has come to my attention which gives me reasonable 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, or
- statutory fees were not accounted for correctly.
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.
H N Painter BSc FCA The Firs Church Road Crowle Worcester WR7 4AX
12 April 2021
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## **PAROCHIAL CHURCH COUNCIL OF ST JAMES THE GREAT, CRADLEY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
Income and endowments
Voluntary income
2(a)
Activities for generating funds
2(b)
Income from investments
2(c)
Church activities
2(d)
Total incoming resources
Expenditure
Church activities
3(a)
Costs of generating funds
3(b)
Total resources expended
Net incoming resources before transfers
Transfer between funds
4
Net incoming resources before other
recognised gains/(losses)
Revaluation gains on investments
6
Net movement in funds
Balances brought forward 1 January 2020
Balances carried forward 31 December 2020
9|Unrestricted
funds
30,041.74
3,830.16
92.29
2,948.00
36,912.19
38,547.17
1,071.53
39,618.70
(2,706.51)
-
(2,706.51)
-
(2,706.51)
31,554.26
28,847.75|Designated
funds
-
-
-
-
-
-
-
-
-
-
-
1,063.13
1,063.13
10,421.80
11,484.93|Restricted
funds
2,595.62
1,165.73
179.29
415.00
4,355.64
8,736.36
1.40
8,737.76
(4,382.12)
-
(4,382.12)
-
(4,382.12)
63,857.72
59,475.60|TOTAL
TOTAL
2020
2019
32,637.36
254,431.38
4,995.89
8,663.45
271.58
522.59
3,363.00
5,173.00
41,267.83
268,790.42
47,283.53
279,002.60
1,072.93
2,034.89
48,356.46
281,037.49
(7,088.63)
(12,247.07)
-
-
(7,088.63)
(12,247.07)
1,063.13
1,908.25
(6,025.50)
(10,338.82)
105,833.78
116,172.60
99,808.28
105,833.78|
|---|---|---|---|---|
|Unrestricted
Designated
funds
funds
Fixed assets
Tangible
5
2,832.16
-
Investments
6
-
11,484.93
2,832.16
11,484.93
Current assets
Debtors and prepayments
7
2,750.89
-
Short-term deposits
20,608.20
-
Cash at bank and in hand
3,497.70
-
26,856.79
-
Creditors - amounts falling due within one year
8
841.20
-
Net current assets
26,015.59
-
Total net assets
28,847.75
11,484.93
Represented by Parish Funds
Unrestricted
Designated
Restricted
Endowment
**BALANCE SHEET AS AT 31 DECEMBER** **2020**|Restricted
funds
-
-
-
1,986.25
41,470.28
16,347.06
59,803.59
327.99
59,475.60
59,475.60|TOTAL
2020
2,832.16
11,484.93
14,317.09
4,737.14
62,078.48
19,844.76
86,660.38
1,169.19
85,491.19
99,808.28
28,847.75
11,484.93
59,475.60
-
99,808.28|TOTAL
2019
3,776.21
10,421.80|
|---|---|---|---|
||||14,198.01|
||||7,834.47
63,808.85
28,918.50|
||||100,561.82
8,926.05|
||||91,635.77|
|||||
||||105,833.78|
||||31,554.26
10,421.80
63,857.72
-|
||||105,833.78|
**The notes on pages 10 to13 form part of these accounts Approved by the PCC on 12 April 2021 and signed on its behalf by the Reverend Robert Ward (PCC Chairman)**
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## **Notes**
## **1 Accounting policies**
## Basis of financial statements
The financial statements have been prepared on the accruals basis and under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS 102. The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. 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 main affiliation to another body, nor those that are informal gatherings of church members.
## Fund accounting
_Endowment funds_ are funds, the capital of which must be retained either permanently or at the PCC's discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. The PCC currently has no Endowment Funds.
_Restricted funds_ comprise (a) income from endowments that is to be expended only on the restricted purposes intended by the donor, and (b) revenue donations or grants for a specific PCC activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
_Unrestricted funds_ are income funds that are to be spent on the PCC's general purposes. _Designated funds_ are general funds set aside by the PCC for use in the future. Project funds are designated for particular projects for administration purposes only. Funds designated as invested in fixed assets for the PCC's own use are abated in line with those assets' annual depreciation charges in the SOFA. Designated funds remain unrestricted and the PCC will move any surplus to other general funds.
## Incoming resources
Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are readily quantifiable. Dividends are accounted for when declared receivable, interest as and when accrued by the payer. All incoming resources are accounted for gross.
## Resources expended
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 expected to be paid over is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross.
## Fixed assets
Consecrated and benefice property is not included in the accounts in accordance with S.10(2)(a) and (c) of the Charities Act 2011.
Movable church furnishings held by the rector and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently the only items costing
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more than £1,000 are the chairs and tables purchased as part of the reordering of the north aisle (including the Lady Chapel) in 2019.
Equipment used within the church premises is depreciated on a straight-line basis over five years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. Investments are valued at market value at 31 December.
|**2 Income and endowments**
**a) Voluntary income**
Planned giving
Collections at services
Donations
Legacies
Grants
Gift Aid recovered
Other voluntary receipts
**b) Activities for generating funds**
Fundraising
**c) Investment income**
Interest
**d) Church activities**
Fees for weddings and funerals
Disbursements
**Total income**
**3 Expenditure**
**a) Church activity expenses**
Missionary and charitable giving
Overseas
Home
Diocesan parish contribution
Other ministry costs
Church running and maintenance
Major repairs - structural renewal
Churchyard upkeep
Printing and stationery etc
Other payments
Depreciation on movable furniture
**b)** Stewardship costs
Costs of grant applications
Fundraising costs
**Total expenditure**|Unrestricted
funds
19,733.32
1,701.15
1,873.55
-
750.00
5,525.67
458.05
30,041.74
3,830.16
3,830.16
92.29
92.29
2,948.00
-
2,948.00
**36,912.19**
-
217.00
29,000.00
1,260.81
4,440.53
-
1,877.64
806.84
0.30
944.05
38,547.17
-
-
1,071.53
1,071.53
**39,618.70**|Designated
funds
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**|Restricted
funds
-
1,433.17
-
-
1,162.45
-
-
2,595.62
1,165.73
1,165.73
179.29
179.29
105.00
310.00
415.00
**4,355.64**
342.05
1,441.73
-
364.49
1,618.48
4,020.61
-
-
949.00
-
8,736.36
-
1.40
1.40
**8,737.76**|TOTAL
2020
19,733.32
3,134.32
1,873.55
-
1,912.45
5,525.67
458.05
32,637.36
4,995.89
4,995.89
271.58
271.58
3,053.00
310.00
3,363.00
**41,267.83**
342.05
1,658.73
29,000.00
1,625.30
6,059.01
4,020.61
1,877.64
806.84
949.30
944.05
47,283.53
-
1,072.93
1,072.93
**48,356.46**|TOTAL
2019
19,389.00
7,427.44
365.00
-
215,363.82
5,928.92
5,957.20|
|---|---|---|---|---|---|
||||||254,431.38|
||||||8,663.45|
||||||8,663.45|
||||||522.59|
||||||522.59|
||||||3,543.00
1,630.00|
||||||5,173.00|
|||||||
||||||**268,790.42**|
||||||660.00
3,823.09
28,000.00
1,982.41
13,566.56
225,206.00
3,331.14
1,357.11
132.24
944.05|
||||||279,002.60|
||||||-
2,034.89|
||||||2,034.89|
|||||||
||||||**281,037.49**|
## **4 Transfers between funds**
There were no transfers between funds during the year
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## **5 Tangible fixed assets**
## **Cost**
|At 1 January 2020
Additions
At 31December 2020
**Depreciation**
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
**Carrying amount**
At 31 December 2020
At 31 December 2019|4,720.26
-|
|---|---|
||4,720.26|
||944.05
944.05|
||1,888.10|
|||
||2,832.16|
||3,776.21|
## **6 Fixed Asset Investments**
|**Cost or valuation**
At 1 January 2020
Additions
Valuation changes
Disposals
At 31 December 2020
**Carrying amount**
At 31 December 2020
At 31 December 2019
**7 Debtors**
Gift Aid recoverable
DCMS Listed Places of Worship grant
Christmas Draw ticket sales
Christmas Draw sponsorship
Sponsorship of streaming licences
Fees
Transfer from Restricted bank account
Transfer from General bank account
**8 Creditors**
Purchase Christmas draw prize voucher
Children's Society - Christingle collection
Charles Farris Ltd - altar supplies
Disbursements
Transfer to General bank account
Transfer to Restricted bank account|10,421.80
-
1,063.13
-
11,484.93
11,484.93
10,421.80
Unrestricted
2,008.88
-
70.00
31.20
175.20
404.00
61.61
2,750.89
30.00
-
33.20
-
778.00
841.20|Restricted
963.25
-
-
-
245.00
778.00|
|---|---|---|
|||1,986.25|
|||-
86.38
-
180.00
61.61|
|||327.99|
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|**9. Funds**
Fund
_Unrestricted funds_
General
_Designated funds_
Dr Webster Fund
_Restricted funds_
100 Club
Bell & Tower
Church fabric
Disbursements
Flower
Hassocks & Cushions
NCT Maintenance
Organ
Refurbishment
Repair & Development
Restricted fundraising
Special collections|Brought forward
Receipts
Payments
Transfers in
Transfers out Carried forward
31,554.26
36,912.19
39,618.70
-
-
28,847.75|
|---|---|
||10,421.80
1,063.13
-
-
-
11,484.93|
||427.00
18.00
-
-
-
445.00
2,765.82
41.65
-
-
-
2,807.47
3,896.14
717.85
1.40
-
-
4,612.59
-
310.00
310.00
-
-
-
0.20
43.78
-
-
-
43.98
46.12
0.20
-
-
-
46.32
4,601.67
15.93
1,618.48
-
-
2,999.12
998.66
79.46
-
-
-
1,078.12
31,221.22
128.05
949.00
-
-
30,400.27
19,900.89
1,162.45
4,020.61
-
-
17,042.73
-
405.10
405.10
-
-
-
-
1,433.17
1,433.17
-
-
-|
||63,857.72
4,355.64
8,737.76
-
-
59,475.60|
||105,833.78
42,330.96
48,356.46
-
-
99,808.28|
The General Fund represents income to be used for the general purposes of the PCC
The Dr Webster Fund represents the residue of a legacy from the late Dr Webster, received in 1962. For many years it was thought that this was restricted to the maintenance of the church fabric, but research in 2019 has confirmed that it is for the general purposes of the church. The PCC has however earmarked it for maintenance of the fabric. It is invested in CBF Church of England Investment Fund Accumulation Units and therefore no dividend is received as the income of the fund is re-invested.
The 100 Club Fund represents subscriptions paid in advance, which are held in this fund until the month of the draw to which they refer, when they are transferred to the General (Unrestricted) Fund.
The Bell & Tower Fund represents surplus funds raised in 2000 for the refurbishment and augmentation of the bells and associated necessary work on the tower, and subsequent donations.
The Church Fabric Fund represents accumulated donations and appeals for fabric maintenance.
Disbursements represent fees for bell ringers, the verger and the organist at weddings and funerals, where the PCC is merely acting as agent.
The Flower Fund represents donations to be spent on the purchase of flowers to decorate the church.
The Hassocks & Cushions Fund represents funds held for the purchase of materials for making these items.
In 2019 the PCC was the first winner of the National Churches Trust's Good Guardianship Awards which carried a prize of £5,000 donated by The Pilgrim Trust to be spent on maintenance of the church building.
The Organ Fund represents accumulated donations and appeals for maintenance of the organ.
The Refurbishment Fund represents donations to finance the necessary refurbishment and adaptation of church premises to facilitate greater community use.
The Repair and Development Fund relates to the repairs to the tower and north aisle floor, and the re-ordering and refurbishment carried out at the same time as part of the project.
Restricted Fundraising and Special Collections represent the proceeds of fundraising events and collections which are specifically for the benefit of some other organisation, and where the PCC is merely acting as agent.
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