The Charity Regislraty'on Number Is ". 266810 Reading Minster Church of St Mary the Virgin Report and Accounts 31 December 2020 Reading Minstsr Church of St Mary the Wiryin Report and accounts for the year ended 31 December 2020 Contents Pagg Charity inforniation PCC, Annual Report Statement of PCC&' re¥FK>nsibiliti Independent Aecountanfs ReF￿rt Funds Statements... Siatemeni of Financial Aetivthe5 10 ststement of Finan¢ial Acti￿tIeS- Prior Year statement 11 Balancè sheet 12 Notes to the accounts 13 Readin9 Minster Church of St Mary the Virgin PCC, Annual Report for the year Ènded 31 December 2020 The PCC present their ReFQrt and Accounts for the year ended 31 December 2020. The legal narne of the charity i5:_ Reading Minster Church of St Marythe Virgin The chèrity is re8istered in Englan(J & Wales with the Charity Commission in En8land & Wales ICCEWI number 266810 ith charity The method of apwintment of PCC membets is set out in the Church Representation Rule5. AJI Church ittendee5 are encouraged to ￿gIsler on the Electoral Roll and stand for eleaiorb to the PCC. The trustees are all individuals. The principal operating address. telephone number. email and web addresses of the charsty are:_ Minster Offi£e St Mary 5 Gate. Chain Street Reading, RGI 2HX Telephone 0118 983 4350 Email Address contact@readingminster.or8.uk Web address Www.￿adingmIftSter.org.￿k The PCC in office on the date the rep)rt was approved we￿-.- Mr5 Marie Allen Ms Irene Orme Rev Judith Sumner Rev Andrew Bond Ms Claire Callaway- appointe(l on 20.9.20 Mr Jèmes Lawbuary - appointed on 20.9.20 Ms Angela Moore - apwinted on 20.9.20 Mrjude Watts - appoinied on 20.9.20 The followin8 persons served as PCC (luring the year endeil 31 December 2020=_ Mrs Marie Allen Mr Niall Collier Ms 5rene Orme Rev Judith Sumner Rev Andrew Bond Mr Trevor S13ck- resigned on 20.9.20 Ms Claire Callaway- appointed on 20.9.20 Mr James Lawbuary - appointed on 20.9.20 Ms Angela Moore - appointed on 20.9.20 Mrjude Watts - appointed on 20.9.20 Pa8e I Reatling Minster Church of St Mary the VÈryin PCC. Annual Report for the year endeil 31 De¢ernber 20x1 Objects and activitie5 of the charity The Minster PCC has the ￿$￿￿)nsibIlity promoting in the ecclesiastical parish the whole mission of the Church. pastoral, evangelistic, social and ecumenical. It also has maintènance responsibilities for the Minster Ctyurch. The term5 01 the lease with 81115 Café mean that the re5rx)n5ibility of maintenance for St Mary's Church Hou$e is theirs. However. should they default then this ￿ponSibility[all$ to the PCC. The PCC has a Standin8 Committee which meets when necessary between full meetin85 of the PCC. Th is the onlv £otnrnittee required by law. It has power to traThsatt the business of the PCC between its rneetill85. sul4ect to any dIr￿li0n$ given by the Council. The rnain activities undertaken in relation to those purrKJses dvrin£ the year. Elertoral roll report and thurch attendan Our electoral role has stayed the same * 42. The average Sijnday attendance duftn8 Ortoberwas 36 and O children in church, with an unknown number watching on YwTube. Review of the yezr- churth and PCC 2020 has been an extraordinary yearand so this rep)rt will I￿k quite different to our usual year as from March 23rd the Minster was closed throu8h tOJune and then for the second lockdown in November. Between times we reopened both for services and for private prayef. we were unable to hold any events or lar8e services for the rest of the year. pcc.. In 2020, the PCC held a total of four meetings. Following ourtirst in February and the APCM in septern￿r, the others were held on Zwm with access for rnembèrs of the PCC both online and on the telephone. At the APCM, four new members of the PCC were appointed. Staff Tearn: The Reverend Andrew Bond IAssociate Vicar). • The Reverend Judith Sumner IA55LK*ate M¢nisterl. Ni311 Collier Ichurchwardenl. • Richard ￿hfield IVer8er and Buildings Manager) Tamsin Phipp5' role as Office manager and PA to Stephen was made redundant in January 2020. Ann Cogle, an Ordinand at St Millitus Theological College. Pa8e 2 Reading Minster Church of St Mary the Virgin PCC. Annual Report for the year ended 31 De¢ernber 2020 Safeguarding: First line responsibility for safe8uardin8 resis with Radha Gnanaprakasan ISafe8uarding Officer).) and J Surnner IDBS verifier pastoral lead on the PCCI. 2020 began with a trainin8 evening for {Ja￿lMe and Sanctuary volunieers and ihe lockdowns have 8ive space for 3 review ol all safeguardin8 d(xumentation. We follow the diocesan traffic light system of ensuring we are up to date with re8artl to safer recruitin8 D85 checks, training requirements etc sth time and Fabric ol the Church.. The following pieces of work have been undertaken on the Minster buildin8 ihss year: •L005e and broken tiles in the nave have been replaced. •Yhe ofli£e space and toilets have been redecorated. •Missing roof riles have been replace(l. •The pathway slabs and office 51ope and walls have bÈèn JÈt washe(l. •NÈw protective floorin8 wa5 installed for the Fiist Stop rneiliial area. •The rear doors were treated with oil. •The John Allen rnonument had some further work completed. •Fencin8 wa5 forthe broken grave in the chufchyard. •Repairs and a new lock was installed for the crypt (knr from outside. •The covid ￿gUlatiOnS required e￿ra cleaning and 3 Yo88erf was purchased and signage organised and wsed in the building for social di5tancin8 etc. Mission.. Sanctuary was unable to t¥ke place from March. despite First Stop rwurning. (South CÈntral Ambul3nceService. Tharnes Valley Police. Readin8 Borou8h Council. and the Street Pastors). Our work with Faith Christian Group IFCGI cont*nued to help meet the needs of people who are homeless and hungry Coniinued by providing the Minster as a location for FCG'S Readistreet ministry. between 8.(K)pm and 9.00pm, Tuesday-Friday every week. Due to co￿(1, FAITH group We￿ unable to operate between March and June. The work of our daytirne volunteer5 to welcome and SUPE￿ people wsttinlthe Minster for private prayer made a huge difference as we opened following the tockdown. Many p￿pIe found peace and comfort in bein8 able to spend tirne in the quiet space ii offered. Following January, February and March Art and Craft rnornings. we were unable to hold these gatherings for the rest of the yeai. We ran a pilsrim course in January/February. which wa5 well attertded. In February the Minster offered a serrice and display in thechurch to mark LGBT+ history month. Following discussions with Kieran Bohen from the Open Table Network plans began for an 'Open Table, cornrnunity in Reading and this included becoming members of 'lnclusive Church.. Following three trial se￿ices, we launched Open Table Readin8 in November and have a committed 8roup of people planning and leadin8 eucharistic sery¢ce on the fitst Monday e¥enin8 of each month. supwrted 4 the Open Table network. Page 3 Reading Minster Church of St Mary the Vir9in PCC. Annual Report for thè year ended 31 t)ecember 2020 In addition to offering our Services on YouTube, we have been able io offer pastoral care durin8 the Co¥id perio with regular pastoral letters. Zoom Q)ttee mornings each Friday and one to one chats both on the tele one and Zoom. The initiative to engage more cltssely with the Professional, Retail and Busine55 Community has been ddayed because of the pandemic. The intention is to start to engage land follow the previously ￿￿pared pagerl in the earlv 5urnmer. Worship The Minsterfs worship has been through many changes due to Cowd re￿n￿lOn$. Following lockdown in March, we began Services on Zwm frorn our home5. However. in the surnrner as we returned to the Minster. we moved to streamin8 semces on YouTube in order to provide a better quality in terms of both picture and sound. This ha5 L￿n a huge amoLJnt ol work and a sreep learnin8 curve for us all. Tbanks particularly rnust 80 to Richard Ashfield and Niall Collier lor learning so much in such a short time and h•vin8 vision as to how our 5ervice5 will look into the future as we aim to continue seThices'online' as well as in peyn, reaching those in our congregations unable to attend but also many others. Hillsong has been holding Services at the Minster monthfy. on a Saturday evening w(th two'Sisterhood' tvenin85 for wornen. with plan5 for weekly services beg*nThing in April 2020. The Minster continued io support the town and diocese by offering a wide ran8e of special serwces andevents includin8.' service5 to mark bishop Andrew's retirement and Bishop Olivia'5 installation. Reading Heritage Day. the Judicial Service to mark the beginnin6 of the legal year. Bach to Baby lintr(KIu¢inK young children to classical music). Mini Me's a charity Ventu￿ involving childrens, and adults, concÈrts, Reading tifeline annual rernembrance service Iba£k with u5 after Greyfriars last yearl. nurnero￿ rnusical and choral events Iwith special thanks to the A440 choir, Reading Phoenix choir. and BBC Ra(Jio Berkshire who donateij some or all of the proceed5 to Santtuaryl. the ordination of priests an¢J confirmation seThices on behalf of the archdeaconry. Lhe Walk¢rs' Commemoration service. and charity and ciwc carol service5. Website During this year. the Minster website was uwlated to accompanythe Parish Profile and thanks go to Ju(È Watts a member of our PCC for his harij work. Musi¢ Following guidelines and risk assessrnents a small group of the men from the Minster choir sang betwea) lockdowns. As we be8an ro stream services YouTube. the music and sin8in8 came through very succepsfullv. Thanks to lan Trlillier and Andrew Stafford and the Choir for their hard work and deLlication despite constsnt chan8es and challenges and we look forward to resurning our choral worship with t*Jth boys and men in the new year. Major Services and ￿ents Due to Covid 19. there were veryfew this year but we held the following at the Minster. all really lovely pnd well received. Stephen and Sarah Pullin's leavlng service and lunch Alana House's 10th Birthday and International Women'5 Day Gospel choir for BBC I recording January 2020 Mèrih 2020 DecembeT 2020 Page 4 Reading Minster Church of St Mary the Virgin PCC. Annual Report for the year ended 31 December 2020 Deanery synod Deanery Synod meetin8s have been taking place on Zoom and have been very supportive of the parish and clergy during what has been a very difficult time. The Ilovember mewing included decisions about the way in which the parish share would be calcul&ted. The maln achlevements and performance of the charity during the yèar. The charity continued to serve the people of Readin8 and Berkshire in its role as an Urban Miftster. In partnership with Reading Borough Council. South Central Ambulance Service and the Police. the Minater continued to provide integrated pastoral medical care to people participating in Readin8'5 ni8ht tirne economy until lockdown in Mar£h. First Stop lernergenry rnedical carel returned to the Minster in Jtsly until the lrfkLlown at the end of the year. Between Lockdowns Reading Minster ottered a safe. reflectNe space for people in he town centre during the da¥nime opening and to provide spiritual ca￿. Between lockdowns, Reading Minster continued to work with FAITH Christian Group pro¥¢ding food forthe homeless and rough sleepers in the town. People were a5SiSted by the Pfovision of spiritual and pastoral sUPPOrt and 8uidance. The PCC are satisfied that the charity's a55ets in each fund are available and adequate io fu￿￿1 its obligabons in respett of each fund. Pa8e 5 Reading Minster ¢hur¢h of St Mary the Viryin PCC. Annual Report for the year ended 31 D8c•mber 2020 The methods used to recruit and appoint new charitytrnst The method of apwintment of PCC members is set out in the Church Representation Rules. Church ittendees are entouraged to register on the £lettoral Roll and stand lor elettioft to the PCC. The trustees, bankefs and ad¥isofs Bankers Surveyors Investment Management Uoyd5 Banl 1-2 Market Place. Readin& RGI 2EQ Ha51ams. 17 Friar Street Readiftg Berkshire RGI IDB CCLA 80 Cheapside. London. EC2V 6EE Accountant5 Shelley Linney. P&L Accountancy and Bookkeeping Ltd. Junsper Cottage. Crown Meadow. East Hanney, OX12 OJR Independent Examiner Ross Brooke Ltd, Suite I, Windw5h Court, Abin8don Business Park, Abin8don, OXI4 ISY Finan¢ial review The chariW5 financial position at the end of the year ended 31 Decernber 2020 The financial p)sition of the charsty at 31 December 2020 and comparatives forthe prior perio(I, as mo detailed in the accounts. can be summarised as follows.'_ 2020 2019 Net income 129.5641 26.916 Called up share capital Share prernium account Unrestricted Revenue Funds available forthe8eneral purposes of the charity Unrestricted revaluation reserve Designated Revenue Funds Designated Fixed Asset Funds Totsi Unrestricted Funds 1.143.966 1.179.321 1.143.966 1.179,321 Restricted Revenue Funds Restricted Fixed Asset Funds Restricted revaluation resefve Total Restritted Funds 58.110 58.232 58.110 58232 Endowment Revenue Funds Endowfflent Fixed Asset Funds Endowrnent revaluation reserve Total Endowment fvnds 219.444 213,531,. 219.444 213,531 Total Funds 1.421.520 1,451,084 Pa8e 6 Reading Minster ¢hur¢h of St Mary the Virgin PCC. Annual Report for the year ended 31 December 2020 Finan¢ial review of the position at the rtportill8 date. 31 Dt¢ember 2020. Total Receipts on ordinary unrestricted funds were £81.637 and are detailed in the financial statementyl£34.375 is rental income from Bills Cèfél. £123,5910l ordinary unrestricted fund5 was spent to prowde Christian ministry from Reading Minster df St Mary the Virgin, including the contrib￿50n to the di￿e$an parish share, which lar8ety provides the stipends d housing for the clergv. The ordinarytotal result Irestrirted and unrestricted) for the year was an excess of payments to incomebv £29,564. Adding the bank and deposit balances at 31 December 2019 for unrestricted funds totalled £193.694 In April 2010 St Mary's House was let to 81115 Café. The rent review tskes pl￿e ewery 5 years. and the lffjt review took place in 2015. A review did not take place in 2020 dueto the Corona￿ruS pandemic. The number of subscribers to planned 8lVlll8 through standing order totals 10. Planned giving during 2D20 totalled £6.935 01 which £3,350 was gift aided. The 5ncome from the wall box was £522 and the pricket stand w5 £1.004. The Parish Share of £19,221 was paid in full. During the year £9,OC4) was incurred due to the lease on St Mary's Gate. PolbCiÈS on reserve It is PCC policy to maintain a balance on UTrrestr￿ed funds Irf p055iblel. which equates to approximatel¥ 6 months unrestritted payments. to cover emergency situations that may arise from tirne to time. The balance of £193.694 on unrestricted fund5 at the year*nd did match this tar8et. It is our policy to invest our funds balances with the CCLA Investment Management Ltd. Availability and adequacyof assets of ea¢h ol the fvnds The PCC are satisfied that the charity's a55ets in each fund a￿ available and adequate io fulfil its obligatlons in respett of each fund. Plans For the Future The main focus of 2020 was to appoint a new incumbent. eetween February and September. a huge amount of work went into producin8 the Parish Profile antl afi athrtisernent went out in October. There were three applicants. all of whom were interviewed in November aftd Rev(1 Sonya Wratten was ¥pointed. to be collated on 19th April 2021. Hi1150ng are bcKJke(I to return to using the Minster buildinB for wee￿¥ services. up to two each Sunday *emoon generatin8 a regular incorne. Pa8e 7 R•adsn9 Church of St Mory th• Wif9in P¢tr Annual R•portk*tr* >Y•r ended 31 (>•wnb¥ 2020 The diary i%lillin8 up With events for 2021. Wilh a￿51 Others. tr*)okin89 loi re8L￿ar Hilbson8 5ervi[es. Raby* t*eatre(rLsw. bacn ru Boby, an Art txnibit10￿ the annval SthTite. Wra:Len'5 5El¥Ste. an NNS sthlt . The Reathn8 rÈfu¢Èe sUp￿n erouo Chri5trn•s C¥rol Str￿*. A B Wsl*erfs servKe ot RemÈmbrBnee. St*eD*nt Dtp(I'S ReSwslb￿I1OÈs The chatrty's trustees ère resptyisitye fof the wepaTat￿￿￿o1 the accouits in accordance with the iemis ol Charitie5 Aci 2oJi and the Charrties (Attounis Repytsl Re8ulalÈcI￿ I￿8. NOtwrthsr¥ftdiNg the expliCIt reqwrerneni ill rhe exwii 51aiuiory rezuSation5.Ihe Ch3ritie5 Iktoun15 aty(J Repotul Rec￿latIonS 2CQ8, to *p*r* Ihe financial statement5 in accordance￿th the SORP 20DS. in o-. the iliat the SOAP 2005 has t* Withdrawn. thÈ PCC determined to Iniergret th15 res￿r.51bl1I¢V 05 fÈqJuirng thernto f¢Ybw tutret)i Des1 waclice and pr*pare the ￿loU￿￿ accordill< io the f AS102 SORP Istate￿ni ol Irecornmended PrartKe forArcount Repooin8 ty Chantiesl 2015 las ar))enoed by Ihe 8ullwin 155ued tn FLir￿ry 20161 In panicular. cnarty lavi requires the PCC.,f thty prepare •ccounTS on afi atctv¥5 trasis. w we9arelinaftcial 5taternèrnrs fwarych lih*nc41 ￿aT ii¥e a true ènd fair view gf the stwe ol iffairsof thecharity as attth end of thE financial ytar and otthe 5tsrplw w rtefic¢ olthe tharity. In weparing 1￿￿efinar￿￿ statements the PCC are reqi¥rel to:_ -10 prèpare the actouots in accoré&nce With United Kin800rn GeneraltyAcctpted Accountil￿ Pr¥iice {Unrted Kingdom Accouniink Standard5 ano aWKable lawj. seiett su tatr>le accountin8 policies and apsy ihern tonS15teThtty', - rnake iudgemenisaod est¢mates Ih&t are rea5fy7able and pn*enT." - prePa￿the fina￿1&[51aterneDtt on the 8¢)In8 toniern Vnle55 It 15 inappropT**e to prosvme inai the Ltsrsiy Wlil cominue In business. 5tatewhaher ¥￿iCable 3(couniing 5tandaras and 5rale￿nts cd recommended k¥att.'ce nave ft￿lD￿eI. to any rnat￿ departure5 di5dosed aTh¢ exolaiAeO in thef¢nan(w 5t•ternents.' The law ré¢ulre5 thJt thEtrwtees apwove theaccounts unless rhty afewisfied the¥ give al￿e an fair of the siare ol èffairs olthechanty artdof the surrAusor drf*ii of the tharny lor the ￿r. The PCC are also ￿spOr61bTre for ￿ntaining3[le0￿￿e acttyml•D8 recorils *hKh wilh reaso1￿ ot anytime the finèrKiai p05itiort of the charity and wlmch a".e sLrffKterttté shDw and exJain rne ch37ty's Irans¥rtion5 and toa￿eth¢M to ensLre ihat She fifiancial staiErvffit510rnpty wilh reÉu13111Y15 made unoert Chariries Aci 2011. They are also responsitrAe loi sale8uardiw the assets of Ihe chariiy ènd hen(e lor iakin rea50nèb* steps lor the prp¥ention •nd dweaion Of*ra￿a and otl*r SryULirrties. uracy Tnp PCC are also reswnsitge for the conrents of the PCC, regorT. and the statLrtfXY ffe5Pty15ibility of the Independent Exam￿ne￿ In relation tothe pcc, reoort is limiltow exarnin1￿ the rtkxrt and ensuringth)t. on face ol ihe report. there are ffj•terial inionsistencies witn Ihe fi&Ur￿ discknsed in ihe finantsai staiernen he This report was approved ty Ihe t¥)ard of trusiees ￿ 4:h May ?￿1. NIALL COLLtER Ttuslee PaRt 8 Readin Minster ch￿￿h ofst Ma EXAMINERS UN UAIIFIED REPORT Inde ndenl Exami Rt Minst I reFQrt to the charity trustees on rny examination of the accounts ot the charty forthe yearerKled 31 Deteknber 2020 which are set out on pages 10 to 30. Responsibilities and basis of ￿pOrt As the charity's trustees you are responsible for the preparation of the accounts in accordance with the req the Charitie5 Act 2011 (the ktl. rernents ol I report In respect of my examination of the thÈrity's accounts carTied out under 5ecrion 145 of the Art and io carrying tsut my examination I have followed all the applicable Directionsgiven by the Charity CoMrniss￿n under section 14515llbl of the Act. Independent examiner's statemert I have completed my eMaminatSon. I confirm that no material rnatters have corne to rnYattent￿n in connec¥on with the examination gNing me cuase to bel￿e that In any material respect". accounting records were not kept in resrecr ol the charity as required by settion 130 of the Act.. or 2. the account5 do not accord wr(h those retords 3. The accounts do rsot comply wrth the applicab￿ rÈquirernents concemiThE the fo¥rn and contert of accounts set out in the Charrt￿ IAccounts and Rerx)rtsl ReKulations 2￿)8 Ottr￿r than any requirement that the accounts gNe a 'true and fair view whKh is nota matter c0ffi5idered as part of an independentexamination. I have no concerns and have come acr055 no other matters in tonnection wrth the e￿aMInat￿)n to wth￿h attthtion should be drawn In this report in ordera proper understandingof the accotsntsto be re¥F*d. Signed Name Address Caroline Webster FCA Ross Brooke Chartered Accountants Surte I Windrush Court Abin8Oon OX14 ISY Date Page 9 fteadlns Mln5ter Church of St Miry theV7r8ln- stateM￿tOf Fthandal Aa1¥4Ieslor￿ year ended 31 De¢ernbor curren1￿r Prbjryear Fur Total F•ndx Totsi Fund# 2020 zo 2019 Income & ETrdowinents from.. Don*ions & Lewies Charrtable acii¥itte5 Other tradins actNitie5 Investment5 21AI 2ZA2 31.393 6.076 11.393 6.076 26.399 30.475 24A4 .168 363 $0,301 95,707 Other Total ihtome 8L637 17.770 152.581 EM￿ndit￿re￿= Bl 29B2 Charirable activrtie5 123.591 123.591 169,955 Tgtsl expendlture 3￿1 113.591 169,95S Net incornelllossl before in¥etmenr sains 141.9541 363 IJSA211 117,3741 Net gains on investments 5.913 6.257 18,036 P4et irt¢•the tor the year 141.9541 707 IL683 I￿.504} 662 TransFer5 between funds 18C 6,599 18291 15.7701 Excepiional Incory 26,254 P4ei Income oftertrartsfew5 and except(onal Items (3SJ551 S.913 1?.5641 26.916 Net movernentlntunds 135.3551 S.911 lJ.$641 1&916 Reconc611atlon of fvnds'.- Total lunds brouthtlovward 16 1,179.321 $8,232 213.531 1,424.168 Totsi fvnd5 Garrled lorward 1.143.966 58.1 219.444 IAZi520 1.451.084 A Statement ofTotal Recognised Gains and losses ￿1ndude0 as a primary staterneni in these atcouThts. All aaivities derive from continuin8 operations Pa82 10 Readins Minster Church otst Mary theWirsin- Statemefftof fir￿r￿1￿1 ActNiue5forthe PriOryearer￿ 31 2019 Stryten￿ntO1FinqftUp1Ac1I￿tyeSfvrthe ￿ended51 Oe(Ev*er2019 Prbjiyear SORP o* Fund5 Totsl F*nd5 2019 Totsl Fynd5 1019 2019 2019 2018 Income & Endokntynents from.. Donations & Legaoes 21 Al 22A2 Z5.731 30.475 16.399 10.475 34,782 19.778 Other Iradingatti¥lt*s Investments Other 24A4 88￿33 510 6364 95.707 94,141 Ttstsi intomÈ 145.OY9 1.178 1$2.581 148,701 Expendlture on.. Raisingfunds Charitable activit￿5 61 29B2 I70,￿1 11061 169,955 132.046 Totsl expendlture 170.061 169.955 132,046 Plei In¢omelllossl beltye 125.0121 4364 11?.3741 16.655 Net 83in5 on In￿ments 815 17.221 ,036 15.4761 Net InC(￿e forthe year I￿.022) 2J.585 11,179 Transfers between fvnds 6.978 16171 16.3611 Exceptional income 26.254 26.254 Net irKome after transfers 8.210 17.224 16,916 11.179 Nei movement i• fufids &210 17.Zi4 16,916 IL179 Retontyliation otfund5=. Totsl fumd5 brnuBht for*iard 1.171.111 S6.7SO 196.307 L4¥,16R 1.412.989 Totsi fynos ea¥ried for4wérd i.In.321 58J32 213.511 L451.084 IA24,161 Page li I SOftPRei xed055ets Tonpble 45sets Im5:￿nIS h4d èsfi¥eoasseTS 959.710 225.￿8 965.516 218.9Ql iOA4 1.184.41 fptalfwed èssets 1.144.868 rreniassets De¥tors Ca5hèi bank and In 44.651 240329 11 B2 246. rotsl <¥irenta55ots iS4.0? 284,910 CreJtrJfs'. •rrdDLthtsl•l&rfdut¥rrit￿lfft •neye•v L2CI 11?.4321 115.3131 266.66 Net ￿rie￿I%**I$ 2KGS2 Th•toul ffl•ta5s•ts oftheÉh¥llV L421520 1.451. Thetotal aMetso1thtdw￿ arefUndedtythefur￿Q1the¢barify.a51d1DWs.. EnOowmErtfvnds End[￿ment He￿n￿&V1¢s 6DI 219.444 213.53 HtstiicLed fun¢5 RÈsIr￿lert fteven￿ Futsds 16D2 58.110 urtf4strK¢edA￿Lls Unr¢¥tfitted Re¥¢nue DegEr41￿ Fb k6 D3 143.966 1.179.3 D•Nin•ted Funds T￿￿1 chatity fvTrds 1.451 Tko'SORF Ref I￿1C31ed ab(¥Je ￿ thtclasyficaTh?no'. Balante 1teffljas￿l obiin tl* lorrr￿1 SORP documents. AS reGuired b¥￿ra¢ra￿ 4.fAlo1 ihe SORP thÈ brou*tforwar¢ ana tarriea forward I￿￿5•￿¥e have teen agreed ro the SOFA. The PCCathhowltd&e thÉir rtythwbd11*5forconwpDB **ththe re4luremErt￿0f(haftty rwèri i a¢lDUDtMw recgrd5 and the preparatbcn datcwnt ThÈ thaiity 1$5ubpctto Inde•eTh)ent ExarnIna￿￿ thjerchvrty ieporLof the kn(kgendeot Exominer 15 on 9. ThtThe PCC are 5è11shed thJt. altwh the thartyis not re8ts¢ered undÈrthe Cowante%*£ts. tf Ili¥ere so rew51ered. ff would be to prepar¢ attwnis Ill ￿tTr￿¢ w•bigonSth Part IS oltrCLryan*s 2a06. app1*abItits¢￿par￿ej 10 thv SLwllwrwrud"tyime. NIALL COLLIER Tlustee ppiowdbylh* board ol trusiees on M3. The wes at¢¥bed on 13 to 30fwm4n Int4*ral part ol ihese Pale 12 ReadiN8 MinsterChur¢h ofst Mary the Wiryin Notesto the Ac£ountsforihe year ended 31 De￿mber2020 l Att¢)umtbng policies POlK￿ relutinq to the product￿￿ oAthe 8asis ol preparation and accourttiA8 con*nti The èc£ounts have been prepared on actnJa15 basis. underthe historital tost con¥Èntion. and in acctyrdance with the Financial Rewrting Standard 102, leffective 1st January 20191 and'FRS 102 SORP (Statement of Re£omft)Ènded Prattice for Accountingand Reporting by Charities) 2015 las amended by the Bulletin Issued in February 20161 publlshed by the Charity Comrni55ion in England & Wales ICCEWI .effective January 2016. (The SORPI, and In ac£ordance with all applicable law in the ch3rity.5juri5diction of re81Stration. e¥cept thèt the charrty has prepared the financjal statements in accordance with the FRS 102 SORP Istatement of Recornmended Prartice for Accounting and Reporting by Charrtiesl 2015 las amended by the Bulletin i55ued in February 20161 in preference to the previous SORP. the SORP 2￿5, which has been withdrawn. no￿lthstandIng the fatt that the extant 5tstutory regulations. the Charities (Accounts and Reportsl Regulations 2(M)8 refer explicitly to the SORP 2005. This ha5 been done to accord with current best practKe. The Charitsble attivities a￿ entirety deperLdent on continuin8yant a¢d and voluntary donat￿n$ as well ps tradin8 revenue5. A5 a ron5equence, the going concern basis is dependenton the future Ilow of these uncertain fijntting streams. Accordingly. the TrustÈes have obtsinèd foreca￿5 and. after reviewin8 the tinancial torecasts for future periods to 31 Décember 2020, the Trustees are satisfieé that, at the time of approving the linantial statefflents, it 15 appropriate to adopt the goingcoricern basis in preparing the financ￿[ statetnents. Other than these rnallers. the Trusteesare not aware of any matpnal uncertainties about the charity's ability to continue as a going concern. Risks The PCC has reviewed the risk5 to which the church is exposed and has controls in place to mitigate these risk5. Actountinglor dtftrred income al￿ income recei¥ed in advante Where terrns and conditions relatingto Incorne have noi teen met or uncertainty Èxists as to whethÈrt terrns or£onditions otherwise within its control. Ir￿rne Is not recognised but Is deferred as 3 liability u terms orconditM)ns imposed can be met. e charity can meet any Any grant that is subject to perforrnanc+fekted Condit￿n5 recewed in advance of delwerinKthe 8ood51and servKes required by that condition. or is Subject to unmet condition5 whollyoutside the Control of the recipientcharity, Is accounted for as a liobility and shown on the balance sheet as defer￿d incorne. Deferred income is released to Income in the rep)rying period In which the performance-related or other conditions that limit recognrtKJn are rnet. When income from a grant or donation has not recognÉ5ed due to the condrtions apptyingto the gfft not being whollv within the control of the recipient charity, it 15 di5Ct05ed as a contingentasset rf re￿ipt of the grant or d¢snation Is probable once those conditions are rnet. Where tirne rekted condr(ions are *mp05ed or iffjpl￿ tya funder. t￿n the income Is apporboned to the tirne Feriods concerned. and, where applicable, is accounted for a5 a liability and shown on the balance sheet as deferred incorne. When grants are reCeI￿d in advance of the exFenditure on the artivityfunded by thern, but there are no 5peclic time related conditions. then the inctsme is not deferred. Any condition that allows for the recovery by the dO￿￿rOf any unexpended part of a Krant does not preitent recognition of the inctsrne concerned, but a liabilty io any repayTrtnt is recognised when repayment becomes probable. Page 13 fteading Minster Church of St Marythe Wirgin Note5 tothe Accounts for the year ended 31 December 2020 IrK¢Jmefrorn le¥aLie5 Incorne from le8acie5 Is recognised when the charity has sufficient evidence that a gift has been left to thern, that where required, probate has been granted, the executor 15 5at15fied that the property in question will not be rquired to satisfy clairns in the estate. that it is probable that the 4tnount will be received by the charrty, and the 3tnount to be r*ceived b¢ estimated with 5uflicient accuracy. and that anyconditions att3tW to the are ethr within control ol the charity or have ￿en met. Where a payment Is received from an estate or is notrfied a5 recewable by the executors afterthe ￿pOrting date before the accounts a￿ auth0ri5ed for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount Cor*eir￿d 15 treated as an adjustsn8e*nt and accrued as income Inthe accounting period if receipt is probable. Where the charity has established entttlernentto a *acy i￿t there is uncertainty a5 to the arnount of the payrnent, detai15 of the legacy are disclosed ès a contingent a55et until the criteria for Income recognrtion are met. Where a legacy is subject to the Inte￿St of a lrfe tenant, the legary is not recognised as i￿ome until the death ol lrfe tenant. If it is doubrful that full settiernent of a legacy debtor will be receNed. then an adjustment is made to retluce the arr￿Unt of the legacy debtor and le£a£y irKome ratherthan chargingthe adjustrneni as exFonditufe in the Statement of Financol Attivities Donated8oods.lacilities and servi Donated fixed assets arè recognised at the current fairvalue. SLbch donationsare recognised as donalion income, and debited to fixed assets. Donated g(KJds that a￿ not fixed a55ets are accounted forat a lairvalL*. unJe55 it is imprattical to reliably measure the valije of the donated items. In the absence of any dirett evidence of fair value of donated goods. then a value 15 derived from the c05t of the item to the donor or. In the ¢a5e of gi)ods that are expetted to be 501d. the esiirnated resale value after deduttingany anticipated costs of les. If it is irnpracticable to measure the fairvalue ot goods donated for resa￿, orthe costs of ¥al￿allOn outweigh the benefits, the donated goods are re£o8niseil as inco￿* when sold, with an equNaient amount being recognised as an expense. The costs of goods donated loi di511it¥Jtion to ￿ner1¢￿t￿$ is deerned to be the fair valve of those 8ood& UFon receipt. When the eoods are distributèd freely or for a Mminal Considerat￿n. then the carrying arnount is adjusted at the time of sale, to the value at the point of distribution and the adjustment is shown as a t05t ol donations made. Donated service5 and facilities lincludin8 seconded staff and use of property) are Intluded in the accoun value of the grft to the charitv. s on the basis of the All donated serv￿$ and tscilffJe5 are reCOgn￿e￿ as donation income when re¢ewed.Iprovided the value of the gift can be rneasured relrdbtyl and recognised as an expense with an equivalent value. Membership subsulpt￿ns The income and any asw¢iated Gift Aid oi otlErtax refvnd from a rnernbership subscripty'on received bythe charity in the nature of a gift, Is accountetl for on the same basi5 as a donation. The incorne from a mernbership subscription r￿e1Ved bythe charity Whe￿ the subscription purchases tle right to services or benefits is recognised a* Incorne from charrtable aaivities. Page 14 ReadiA8 Minster Church of St Mary the Wiryin Notes tothe Accounts tor the year ended 31 December 2020 Recc%nibon of liabilities and eMpendr(ure A liability, and the related expenditure. ￿ recogn15ed when a legal or constructive obliKation exists a5 a r￿sUIt of a past event. when it is moiE likely thdn t￿t that a transfer of econotnic Ixnefits will iy required In 5EttlEtnent. and hen the amount tsf ihe obligation can be measured or reliably e5tirnated.. Liabilities arisingfrom future funding commrtments and constructnfe obligath)ns. including perforrnancg related grants. whe the timing or the amount of thè future expenditure required to settle the obligation are untertain, give rise to a provision in the accounts, which is reviewed at the accounting Vear end. The provision is increased to reflect any IncTea*5 In liabilities, and is decreased by the uti11sation of any provision wrthin the period, and reversed rf any provision is no longei required. These movements are char8ed or credrted to the fespectfft funds and attNit*Sto wh￿h the provision relatesi All¢xatin¥ wsts to adivityes Dirert costs that are S￿lf￿allY related to an 4rtNity are alkKated to that actNity. ￿pport Costs are a1￿C￿ted to an administrative activitv. Volunteers In accordarKe with the SORP, and in recognitK>n of the Iirfficultie5 in placing a rnonetary value on the cohtribution frorn wolunteers, the contritrAJtion of volunteers Is not included within the income of the charity- However. the trustees value the signffjicant contribut￿￿ made to the activities of the charity by unpaid yolunteersand this is descri1￿11 rnore fully in Note5. Fi¥ed Asset Inve5th*nts Fixed asset Investments in quoted shares. traded tx)nds and similar investments are shown initialty at ctst upon atquisition and at their market value at the balance sheet date atthe end of the finanual peiiod. Investment properties are rjot depreciated. Fixed asset investments in unlisted equrties are shown at the balarsce sheet date at the best estimate of thèir market value, where pr3Cticable. Where valuation techniques are considered unreliable or where. in the opinion of the trustees, the costs outweigh the benefits to the user5 of the accounts. the Investment 15 included at cost. and a revjew is undertakèn at each year end as to whether the asset should be wrinen down. All Eains on fixed asset Investments. whether realised or unrealised, are included in row B4 of the Statement of Financial Activities. Tan8lblef￿ed assets TanBiblÈ fixed a55et5 are measured at their Dr￿1￿31 costvalue, or subsequent revaluat￿n. or rf donated.p5 described above. Cost value includes all costs expended in bringing the a55et into r(s Intended working condition_ Afull year of deprects3t￿1n is provided in the year of a aihd the long leasehold of the coffee stall In St Mary Butts Reading1£20,Cml. Both properties were valued by Charles Hubbard FRfs. Partner at Dunster and Morton, 6 Southern Court. South Street. Readin8 on 31 DetemiEr 2013. Dtsnster and Morton are a professional firm of independent chartered s￿￿eYOrS and cornmercial property £On5ultanis who are re8ulaied by the Royal knstitutÈ of Chartered Surveyors. Page 20 Readsng Minster Churth of St Mary the Wilgin Notes to the Atte￿nts forthe yearended 31 D¢t¢mb¢r 2010 10 Investments held asfued assets 5ted otheTaa￿Of Total Carrylng values of investments At l January 2020 Revaluation at 31 DeCern￿r 2020 218,901 6,257 218,901 6,257 At 31 December2020 225.158 225,158 Anatysls between falr ¥a￿e and historical c05t Investments as above held at fairvalue 22 158 225,158 Summary ofother dasses of inVe￿Ments at 31 DetembEr2020 Cash or cash equivalents Investment properties Other invesiments 22*158 225,158 11 Debt¢)rs 2020 2019 Trade debtor5 Prepayments and accrued irKorne Other debtors 4131 3854 41,336 3.315 7.985 44,651 12 Credi¢of5.' amr#Jnts falli￿ due wlthin ¢w ye¥ 2020 2019 Traae cre(Jitors L661 4808 184 4,893 6.388 6,291 741 Accruals DeferrÈd Incorne- Unrestricted & d@S￿nated funds PAYE. NIC VATand other taxes 17022 18313 Page 21 Reading Minster Churth of St Marythe Wirgin Notes to the Ac£ountsforthe year ended 31 December2020 13 Operiting Lea5es- le55ee 2020 2019 Total futu￿ minimum lease payments under noTh Page 25 Reading Minster Church of St Marythe Wiryn Detalled analysls of income and expendlture for tlte year ended 31 December 2020 as requlred bythe SORP 2015 rhls anatysis Is closslftd byconventiontslr￿mj￿u1des£nptions ondnot by tirtivity. 21 Donatlons and Le￿cleS Current year Currentyear Current year Current year UnrÈrtritted RèstrirtÈd Endowment Funds Funds Funds 2020 2020 2020 Prior Year Tot31 Funds Total Funds 2020 2019 Donatlons and glfts from individuals Collection5 at Services Contactles5 donations Planned 8ivin8 Othef donation5 Gift aid recoverable Organ maintenance Organ restoration Pricket stand Bnd donation box 2.101 177 6.935 7.985 1,069 2.101 177 6,935 7.985 1.069 9.714 6,602 1.423 927 472 40 3,486 1.526 1.526 Totsl donations and 8ifts from individuals 19.793 19.793 23.344 Legacies receivable Le8aCV 5.806 Totsl legacies receivable Revenue grants and donations from non public IM>dies Green Gir15 Foundation Santtuary grant5 Ardeola Trust 794 794 1.561 1.494 Total prtvate sector revenue 8rants 5.794 5,794 3,055 Total Donations and Le8acles 31.393 31,393 26.4 Pa8e 26 Reading Minster Churth of St Mary the Virgin Detailed analysis of income and expenditure for the year erbded 31 De￿mber 2020 as required by the SORP 2015 22 Income from charltable atti¥Ktles- Trading Activitses Current Curreht Current year Current year year Unrestricted Restricted Endowment Fund5 Funds Funds year Prior Year Total Funds 2020 Total Funds 2019 2020 2020 2020 Primary purpose and anullary tradin8 Church Hire Christmas card sale5 Car parking 4.331 1.595 150 4,331 1.595 150 28.280 1.595 6LK) Total Prlmary purpose and ancillary trading 6.076 6,076 30A75 23 Total Income from charltable activities Current Currènt Current year Current year Unrestricted RestriC￿d Funds Funds year Endowment FU￿1$ year Prior Year Totsi Fuhds Total Funds 2020 2020 2020 2020 2019 Total income from charitable trading 6.076 6.076 30,475 Total from charitsble arthlties 6.076 6.076 30A75 24 Investment income Current Current Current year Current year Unre5trirted Restricted Funds Funds year Endowment Funds year Prior Year Total Fu•ds 2020 Total Funds 2020 2020 2020 2019 Property Rental Income Dividend Income 8ank Interesl Receivable 43.425 43.425 5.935 941 87.S90 6,525 1.592 165 198 5,770 743 Total investment intome 44.168 363 5.770 50.301 95.707 Page 27 Readlng Mlnster Church of St Mary the Vlwn Detailed analysis of income and expenditurt for the year ended 31 December 2020 as required by the SORP 2015 25 Expenditure on charitablt actNities- Direci spendin8 Current Curre*t CUr￿n1 year Current year Unrestriaed Restricted Funds Funds vear Endowment Funds Priof Year Total Funds 2020 Total Fund5 2020 1020 2020 2019 Gross wages and sala¥ies- charitable activities Travel and Sub51Stence- Charitable Activitie5 Deanery Synod feè5 Diocesan Quota Clergy Expenses Pastora5 Support Upkeep of services Sanctuary expenses Mission related activity 33.928 33.928 49,775 891 891 1.076 262 18,218 983 19.221 19,221 450 1,285 929 450 1,285 929 2,485 3,368 2,420 Total direct spending B2a 59.244 59.244 78.587 26 Expenditure on char5table activitiÈs- Charitable trading Current Current Current year Current year year Unre5tri¢ted Restrirttd Emdowrnent Funds Fund5 Fund5 vear Prlor Year Total Fuffjds 2020 Total Funds 2020 2020 2020 2019 Director of music Or8ani5ts and Musicians Adult Singers Choir pav Piano Tuning & organ maintenance Royal School of Music 305 2.590 215 14891 75 iio 15 1.233 4.590 1.953 1,607 75 215 75 iio Total charitable trading costs 82b 9,458 Page 28 Reading Minster Church of St Marythe Vlrwn Detailed analysis of in30 4,240 1,200 Financial costs Deprecialion & Amortisation in iotal for 7.870 7,170 7.456 Total 5UPPOrt costs 60.581 60,581 81.010 Page 29 Reading Minstèr Church of 5t Mary the Wirgin Detailed analysis of in¢ome and expenditure for the year ended 31 December 2020 as required by the SORP 2015 28 Other Expenditure- Governance costs Current Currelt year. Current year Current year Unrettri¢ted Re#ri¢ted Funds Funds year Endowment Fund5 Prior Year Total Funds Total Fund$ 2020 2020 2020 2020 2019 Independent Examiner's fees 960 9((J Total Goverrtan￿ costs 29 Total Charitable expenditure Current Currènt Current year Current year Unrestrirted Restri¢ted Funds Funds 2020 year Endowmtnt Funds 2020 year Prlor Year Total Funds Total Funds 2020 2020 2019 Total direct spending Total charitab5e trading costs Total support costs Total Governance costs B2 82b B2d B2e 59.244 2.806 60,581 960 59,244 2.806 60.581 960 78,587 9.458 81,010 9(K) Total charitable expenditure B2 123.591 123.591 169,955 Page 30