20

Independent Examiner’s Report

To the trustees of St James Church, Altham

I report on the accounts for the year ended 31st December2015 which are set out on pages 10 to 19

Respective responsibilities of the Trustees and Independent Examiner

The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities

Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Examine the accounts under section 145 of the 2011 Act

Follow the procedures laid down in the General Directions given by the Charity Commissioners section

145(5)(b) of the 2011 Act; and

State whether particular matters have come to my attention

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with the 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 PCC concerning any such matters. The procedures

undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not

express an audit opinion on the accounts.

Independent Examiner’s Statement

In connection with my examination, no matters have come to my attention:

Which give me reasonable cause to believe that in any material respect the requirements

To keep accounting records in accordance with S.130 of the 2011 Act

To prepare accounts which accord with these accounting records have not been met; or

To which, in my opinion, attention should be drawn in order to enable a proper understanding of the

accounts to be reached.

P. Holderness

7 Oakfield Avenue, Clayton-le-Moors

15th March 2016

St. James Parish Church, Altham

Annual Report &Financial Statements

of the Parochial Church Council

for the year ended 31 December 2015

Incumbent: Revd. Toby Webber

Curate: vacant

Bank: HSBC, 107 Blackburn Road, Accrington, BB5 1JP

Independent Examiner: Mrs P Holderness,7 Oakfield Avenue

Clayton-le-Moors, Accrington

Secretary: Mrs S M Tinker, 3 Beaufort Close, Read, BB12 7QF

2

Ex-officio members:-

Incumbent: PCC chairman The Revd. Toby Webber (appointed 4th September 2015)

Curate:

Wardens: Mr Robert Barnes

Mr Leslie Moore (Treasurer & Lay

Vice Chairman)

Deanery Synod Representatives: Mrs Susan Tinker (Secretary)

Mrs Catherine Lawson (Pastoral

visitor and Vision 2026 co-ordina

tor)

Elected members Mrs Barbara Banks

Mrs Jill Jones

Mrs Joann Walmsley

Mrs Jacqueline Threlfall

(Co-opted 7th July 2015)

The PCC meets four or five times during the year and operates as a single

body, without the use of sub-committees. Three members represent the

PCC on the United Benefice Steering Committee.

Administrative information

St James Church is situated in Burnley Road, Altham. The Parish forms

part of the United Benefice of St James, Altham with All Saints, Clayton-le-

Moors and is part of the Diocese of Blackburn. The address for corre-

spondence is c/o

Mrs S M Tinker, 3 Beaufort Close, Read, BB12 7QF

The Parochial Church Council (PCC) is a charity excepted from registration

with the Charity Commission.

PCC members who have served from 1st January 2015 till the date of this

report are:-

19

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2015

10. CHARITABLE DONATIONS

The following donations were made during the year: 2015 2015 2014

Unrestricted Restricted

Funds Funds

Missionary societies

Church Missionary Society 0 250

United Society for the Propagation of the Gospel 0 250

0 0 500

Relief & development agencies

Christian Aid 0 250

Christian Aid - Nepal Earthquake Appeal 490 10 0

490 10 250

Home missions & other Church societies

National Churches Trust 150 250

British Legion 50 50

Children's Society 250 200

Church Housing Trust 0 250

Church Urban Fund 0 250

Bishop's Harvest Appeal 245 5 250

SGM Lifewords 50 250

Christians Against Poverty 250 250

Shekina Christian Centre 500 200

Bible Society - Open The Book 100 0

Shree Shwet School 500 0

Shelter 66 0

2095 71 1950

2585 81 2700

For many years the PCC has adopted the biblical concept of tithing. The amount of charitable

donations each year is calculated as 10% of the preceding year's gross unrestricted income,

excluding legacies. The PCC favours Christian based charities when possible, but donations are

not necessarily restricted to that particular sector.

18

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2015

6. ANALYSIS OF NET ASSETS BY FUND

<--Unrestricted Funds---> Restricted Endowment Total

General Repair Fund Fund

Fixed assets for church use 3147 3147

Investments 51137 1745 52882

Current assets 36905 47017 238 757 84916

Current liabilities -16345 -16345

Long term liabilities 0 0

Fund balance 23707 98154 238 2502 124600

Endowment fund:-

Maintenance of Lancaster family vault 2502

2502

7. DEBTORS 2015 2014

Income tax recoverable 3783 3895

Parish share paid in advance 1010 848

Accrued income 0

4793 4743

2015 2014

8. LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR £ £

Accrued expenses 191 195

Sundry creditors 0 429

Deferred income 16154 395

16345 1019

9. LIABILITIES: AMOUNTS FALLING DUE AFTER ONE YEAR

0 0

0 0

3

Structure, governance and management

The method of appointment of PCC members is set out in the Church

Representation Rules. All church attendees are encouraged to register on

the Electoral Roll and to stand for election to the PCC.

Objectives and activities

The PCC has the responsibility of co-operating with the incumbent, and

with the churchwardens during the vacancy, in promoting, in the

ecclesiastical parish, the whole mission of the church; pastoral,

evangelistic, social and ecumenical. It also has maintenance

responsibilities for the Church of England day school in Altham.

Achievements and performance

[Comparative figures for the preceding year are shown in brackets]

There are 69 (68) parishioners on the Church Electoral Roll, 44 (44) of

whom are not resident in the parish. During the year 1 (1) names were

added and 0 (1) were removed either through death or because they

moved away from the parish. During the year 57 (55) services were held.

The total attendance at those services was 1728 (1662) adults and 360

(363) children under 16. These figures give average attendances of 30 (30)

and 6 (7) respectively and include 1024 (924) communicants. During the

year 0 (2) adults and 1 (2) children were confirmed and there were 6 (7)

juvenile and 1 (0) adult baptisms, 3 (2) weddings, 4 (1) funerals, 0 (4)

burials or interment of ashes in the churchyard and 0 (0) funeral services at

a crematorium.

4

Review of the year Services This year has been momentous in many ways not least because of the appointment of the Revd. Toby Webber as our new incumbent in June. He along with wife Rebecca and baby Annabel were welcomed at his inducttion at the beginning of September after a vacancy of well over a year and a half. Although we maintained the life and health of our church during the vacancy, thanks to the contribution of many individuals, there have been marked changes in pace with a new vicar at the helm. There has been a gradual improvement in numbers both on regular Sunday mornings and for special services. A number of new individuals have joined our congregation and we have seen the return of others and we welcome them all. A new service of Family Communion was started during the year which is designed to involve members of the congregation and we have indeed had individuals other than the church wardens, reading parts of the service, taking up the sacraments, reading lessons, taking the collection and preparing the prayers. This is a positive, small step toward the Diocesan Vision of inclusive and collaborative ministry. The pattern of worship has also changed - a positive move towards uniting the two churches in the benefice so that the family worship times coincide, making the sermons easier for the vicar and meaning that he can spend more time with our congregation after the service without needing to rush off to All Saints. Following a session when the PCC had an opportunity to look at our vision for the church it was decided that we needed to give prayer a greater priority and with this in mind a time of reflection has been introduced five minutes before the start of the ser-vice. A prayer focus is suggested and displayed but is by no means compulsory. Other initiatives are currently under discussion. Building and churchyard In recent months it has been obvious that in bad weather some water has been getting into church through pointing around the windows and particularly the roof. Over recent years various stop-gap measures have been taken to delay the need for a new roof but we all knew that the time was coming. Co-incidentally, the Government, through the Listed Places of Worship Roof Repair Fund announced the availability of some new funding for urgent roof repairs for listed places of worship across the UK. We submitted a grant application and we were able to secure a grant of £44,000 which represents half of the cost of the repairs. We as a church must find the other half and whilst we were prepared for this expense, money raising and giving must be a priority in the coming months. The ashes of a number of individuals are now interred in the Garden of Remembrance

and whilst there are records in the registers in church, until recently there have been no

outward indications of whose ashes were interred there. The PCC decided that provid-

ed that it retained control over the size and wording on the plaques, these could be

fixed to the sides of the four plinths marking the plot should the families want this. At

present there are two of these plaques on the plinth in the top left hand corner.

17

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2015

2015 2014

£ £

4. STAFF COSTS

Wages and salaries 150 70

During the year the PCC employed a number of organists , none of whom earned more than £50000 pa.

There were no disclosable transactions in respect of PCC members, persons closely connected with

them or other related parties.

5. FIXED ASSETS FOR USE BY THE PCC 2015 2014

Church Total Total

Equipment

5 (a) Tangible fixed assets: Actual cost At 1 January 19684 19684 19380

Additions 341 341 304

Disposals

At 31 December 20025 20025 19684

Depreciation At 1 January 15147 15147 13452

Charge for the year 1731 1731 1695

Withdrawn on disposals

At 31 December 16878 16878 15147

Net book value At 31 December 3147 3147 4537

5 (b) Investments 2015 2014

Bank

deposits Equities Total Total

Movements in the year: Market value - 1 January 60476 52229 112705 130194

Purchases at cost 0 0

Transfers from current account 20000 20000 3500

Transfers to current account -7000 -7000 -26000

Cost of disposals -50 -50 0

Income 336 2021 2357 2387

Income transfers 2021 -2021 0 0

Unrealised movement in market value 704 704 2624

Market value - 31 December 75833 52883 128716 112705

16

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2015

3. RESOURCES USED Unrestricted Restricted Endowment Total Total

Funds Funds Funds 2015 2014

3(a) Church activities £ £ £ £ £

Missionary & charitable giving:

Church overseas: - missionary societies 0 0 0 500

- relief & development agencies 490 10 500 250

Home missions & other church societies 2095 71 2166 1950

Barchester 549 549 539

Quincentenary celebrations 0 0 46

Stained glass window 0 0 0 -1240

3134 81 0 3215 2045

Ministry: Diocesan parish share 12438 12438 13587

Share of joint benefice expenses 1127 1127 1472

Church maintenance 358 0 358 459

Major building repairs 5846 5846 11692 17979

Architect's & faculty fees 0 0 3387

Insurances 1767 1767 1991

Light & heat 1915 1915 1578

Organ & organist 150 150 70

Church services 226 226 195

Cleaner & cleaning 0 0 0 5

Publicity 1715 1715 364

Book stall & magazine 0 0 0 671

Cleaning 0 0 0

Sunday school 0 188 188 188

Day school 10 0 10 1085

Depreciation of fixed assets 1732 1732 1695

Sundry church expenses 202 0 202 768

Stationery, printing & postage 273 273 195

30893 6115 0 37008 47735

3(b) Costs of generating voluntary income

Regular giving and gift aid envelopes 192 192 126

192 0 0 192 126

3(c) Fund raising expenses

Car boot sale 97 97 64

Christmas Fayre 113 113 143

210 0 0 210 207

3(d ) Governance costs

PCC meetings 0 0 0

0 0 0 0 0

TOTAL RESOURCES EXPENDED 31295 6115 0 37409 48068 5

A new sound system was installed before Christmas as a matter of urgency when the previous one failed. As part of the preparations for the work on the roof a Bat Survey had to be carried out. It would appear that we have a number of roosts around the church. Together with the field mice who occasionally venture inside and munch on the hassocks, the rabbits which burrow under the church and the odd butterfly which emerges and flits around, we seem to have quite a me-nagerie and truly earn the reputation of a 'country' church. Festivals and special services Our Easter program was a busy one and much of this was led by the Arch-deacon of Blackburn. There were reflections in one or other of the two churches each evening during Holy Week marked at each end by Palm Sunday and Easter Day services. Our Harvest Festival was spectacular with the church decorated beautifully with contributions from the congregation and the Day School. The fresh food and flowers went to local people and the packets and tins to the food bank. Remembrance Sunday saw the introduction of a different arrangement for the music needed at the war memorial by the gate. The pebble poppy wreath and the remembrance candle were used again in church, as they have been since 2014 and will be until 2018 marking the anniversary of the end of WW1. Early December saw the introduction of an Advent Reflection Morning led by the vicar and this was a welcome break from the madness of pre-Christmas preparations and a timely reminder of the need to prepare ourselves spiritu-ally at this important time. Christmas this year was very busy, starting with the Family Christmas Ser-vice instead of a Christmas Eve Crib Service. It told the Christmas story from the perspective of the different characters involved. Adults and children alike took major parts and, judging by the favourable comments since, it was a great success. The Nine Lessons and Carols went ahead on the Sunday evening prior to Christmas and was well attended with members of the general congregation taking part. The time was earlier than in previous years so as not to clash with the same service at All Saints and this did not appear to have a detri-mental effect. On Christmas morning the church was full with people from all over the benefice and including some brave families who had managed to extricate their children from the excitement of new toys. The final Christmas Service at our church was the Christingle which again was well attended and raised money for the Children's Society and the work they do. Sunday School and young people Our Sunday School continues to play a major part in the life of our church. Carole and her team work hard and under difficult circumstances to provide for these young members of our church. It is not easy preparing for an inde-terminate number of children of widely varying ages. We hope to continue to find ways in which they can play a larger part in our church. Already some of the older children can be relied upon for readings, taking the collection

6

and help at events and their contribution is much appreciated. This year it was encouraging to see Ben Walmsley confirmed and especially to see him continue with sister Olivia to share regularly in Holy Communion. So often we see our young people confirmed only for them to drift away from attending church as other aspects of modern life impinge on their Sunday mornings. In May our Sunday School children took part in a competition organised by the Chil-dren's Ministry Team in the Diocese. The challenge was to write a letter to God. Out of all the entries received Olivia Walmsley won one of the coveted prizes. Our Sunday School families were treated to tickets to the Messy Garden Party in June, hosted by the Bishop of Burnley. This was a great event with lots to do and see. It was enjoyed by all - even the organisers! Tea and Toddlers continues in church every third Wednesday morning in the month but as yet we have few regular members. We continue to hope that this group will grow to nurture the younger members of our community. Day School We continue to strive to strengthen links between the church and Day School. The vicar, a member of the children's ministry team, and the Open the Book team all go regularly into school to lead worship. The Prayer Room in school continues to be maintained by the church and themes this year have included 'Honesty , 'Respect', 'Harvest', 'Advent' and 'Hope, Trust and Be-lieve'. We have a number of representatives from the PCC as governors who work with the school to maintain the church's interests there. These governors sit on the various committees which oversee the running of the school, visit school to work alongside staff and children, accompany them on outside visits and generally support everyone involved. This year for the first time members of the church attended a Parents Consultation Evening to provide a display and a presence so that parents could see the contribu-tion we make to school life. At the Induction Evening for new parents we prepared a Welcome Pack with invitations to join us and with information about the distinct nature of, and contribution the church makes to, a Faith School such as ours. The school visited church on a number of occasions during the year including Lent, Harvest, Easter and of course for the anniversary service at the end of the school year when we said our goodbyes to the Year 6 children but also to Mr. Williams in his retirement. The children were presented with Bibles but Mr. Williams was also pre-sented with books as a small token of our appreciation for the work he had done in his years as Head Teacher. Preparations were made for an Associate Head Teacher to be in post for the start of the new school year and Mrs Carol Woods accepted this position. Later in the term following a robust recruitment procedure and interview involving local authority, dioce-san, parent and PCC governors, Mrs. Woods was appointed as the new permanent head-teacher. She was welcomed by the church congregation in a service shortly after and we look forward to working with and supporting her in this role.

15

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2015

2. INCOMING RESOURCES Unrestricted Restricted Endowment Total Total

Funds Funds Funds 2015 2014

£ £ £ £ £

2(a) Voluntary income

Planned giving:

Regular giving - gift aid 8576 8576 8330

Regular giving - non gift aid 1706 1706 1589

Irregular giving - gift aid 2092 2092 2822 Income tax recoverable on gift aid 3784 3784 3932

Other collections at all services 1493 1493 1529

Donations, appeals etc. 690 504 1194 718

Legacies 0 0 0

18341 504 0 18845 18920

2(b) Activities for generating funds

Car boot sale 1045 1045 879

Christmas Fayre 1868 1868 1706

Quincentenary celebrations 247 247 171

Stained glass window appeal 0 0 0

3160 0 0 3160 2756

2(c) Income from investments Dividends and interest 2293 0 70 2363 2396

2293 0 70 2363 2396

2(d) Church activities

Fees 2003 2003 756

Social events 124 124 0

2127 0 0 2127 756

2(e) Other incoming resources Bookstall & magazine 3 0 3 702

Sundry income 437 0 437 918

Rents 150 150 350

Grants (roof repair) 5846 5846 0

590 5846 0 6436 1969

TOTAL INCOMING RESOURCES 26511 6350 70 32931 26797

14

Accounting policies (cont.)

Tangible fixed assets for use by the charity

These are capitalised if they can be used for more than one year and cost at least £250. They are

valued at cost or else, for gifts in-kind, at a reasonable estimate of their market value on receipt.

Depreciation is calculated to write off fixed assets over their estimated useful lives as follows:-

Land Nil

Buildings Nil

Fixtures and equipment 5 years

Computers 3 years

Investments

Investments quoted on a recognised stock exchange or whose value derives from them (CIF shares

etc.) are valued at market value at the balance sheet date. Other investment assets are included at

the trustees’ best estimate of their market value.

Trading stocks

These are valued at the lower of cost or market value

Short term deposits

Include cash on deposit either with the CBF Church of England Funds or at the bank.

Funds

Unrestricted funds

These represent the remaining income funds of the PCC that are available for spending on the

general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own

use or for spending on a future project and which are therefore not included in its “free reserves”

as disclosed in the trustees’ report.

Restricted funds

These are income funds that must be spent on restricted purposes and details of the funds and

restrictions provided are shown in the notes to the accounts.

Endowment funds

These are restricted funds that must be retained as trust capital either permanently or subject to a

discretionary power to spend capital as income, and where the use of any income or other benefit

derived from the capital may be restricted or unrestricted. Full details of their restrictions are

shown in the notes to the accounts.

7

Social Although we haven’t had social events in great quantity, owing to the vacancy and prepara-tions for the vicar's arrival, which have taken our attention, we have had some of the regular events and a couple of new ones. The Quiz Night was arranged for a school holiday so that children could be included and this was so successful that it will be repeated in February 2016. The Car Boot Sale went ahead despite the weather deterring a few of the regulars and £948 was raised for church funds. Bacon butties and burgers provided sustenance for those intrepid souls who were there at the outset and stood for a good few hours after, manning the stalls and tidying up after the event. Despite anxiety over the number of items for sale at the Christmas Fair in the weeks preced-ing, it was a great success and at surplus of £1755 actually made more than the previous year. For the first time in a number of years a Parish Dinner was held at Whalley Abbey one evening before Christmas. It was thoroughly enjoyable and as a result will most likely be repeated in coming years. Carol Singing in the village was another good occasion with some fun and laughter, decent weather and a great supper in The Walton to finish it off. Funds were raised for the charity 'Shelter', - another event sure to be repeated. Members of the congregation held a fundraising Cupcake Bake for the Macmillan Charity which involved reaching out to the local community on the Business Park as well as our own congregation and that at All Saints. A significant amount was raised. A new social committee are set to announce future events soon following their meeting. Additional events and opportunities Open the Book Our Open the Book Team has gone from strength to strength over the past year. We have new regular members and others who willingly help out if needed. In addition to our own school we also go regularly into St John's Baxenden, St Mary's R.C. School and Mount Pleasant to lead worship. We are reliably informed by the staff that these are the children's favourite assemblies. The main thing however is that we are getting the bible message out to the children. We are one of less than a handful of OTB groups in the Blackburn Diocese and we were hon-oured to be invited to do a presentation at the Diocesan Celebration of Children's Ministry Ser-vice in the autumn. We hope to inspire and maybe train other groups from churches elsewhere in the Diocese to do the same in their parishes. Church Openings During the summer again this past year we opened the church over two lunchtimes each week for visitors. As usual we had some busy and some quiet weeks depending on the time or the weather. Visitors have ranged from those who work on the business park across the road and come for a breath of fresh air or to eat their lunch in peace and quiet, those who are just pass-ing and see the sign, those who are curious because they have always wondered about the little church set so far back from the road, those who have relatives' hatched, matched or dis-patched' from here and those with relatives from abroad. They are all sure of a welcome, the offer of a cuppa and sometimes even a guided tour. We hope to change slightly what we offer in this coming year to make the church even more accessible.

8

Guided Tours Guided tours have been another feature of our ongoing quest to bring people over the threshold and a number of tours have been provided to a variety of groups over the course of the year. This again brings revenue to the church and brings a greater awareness of our beautiful church to those who may otherwise not have known of its existence. Eggsplorers An Eggsplorers Evening was held on what must have been one of the worst nights of the autumn. This was intended to help children's workers from churches already using Bible Eggsplorers to make the most of the resources, and inspire them to try out new things to encourage children to read and know their bible. Members of the team already go into schools across our Diocese and others leading worship and Eggsplorer Days and training children's workers in churches and Sunday schools. Nepal Two members of our congregation have a continuing link with a small school in Nepal - the Shwet Ganesh School. Their most recent visit was just a few days before the devastating earthquake there in 2015 which had a disastrous impact on whole villag-es and communities. Fortunately, although they suffered some damage and the loss of some buildings, the school survived. The school is in a very poor area and serves a large number of children ranging in age from 4 to 15 with few teachers and minimal resources. Helen and Philip go out there and teach in the school for a few weeks, provide re-sources which they take with them and raise funds for other things which they can be obtained locally. After a presentation which they gave one Sunday morning in church, it was decided to sponsor this school as a special project for our church. Relief funds were sent immediately we heard of the earthquake but since then a commitment has been made to provide some financial support directly to the school for 2015 and the next two years at least. In addition a link has been set up between our day-school and the one in the village in Nepal which will undoubtedly benefit both parties. People The church cannot continue without the loyalty, support and commitment of those who take on the responsibility of working with the vicar to make us a healthy church, committed to transforming our community. During the vacancy, this was particularly difficult and we are particularly grateful to Sue and Les for the leadership and inspira-tion which they showed during this time. To others too, who were prepared to put their heads above the parapet and take on responsibility – a daunting task when you have-n’t done it before – we are grateful. To those who work in our Sunday School, to those who bring the flasks of coffee, those who volunteer for the cleaning rota, the choir, those who look after the church flowers – the list is endless, but they know who they are, and they know that they have our grateful thanks.

13

Accounting policies (cont.)

Gifts in kind for the PCC’s own use are included in the SOFA as incoming resources

when receivable, and expensed as and when consumed in use. Gifts of fixed assets,

if material, are included in the balance sheet and expensed over the asset’s useful

economic life.

Donated services and facilities

These are included in incoming resources (and at the same time in resources ex-

pended) at the estimated value to the PCC of the service or facility received.

Volunteer help

The value of any voluntary help received is not included in the SOFA but is de-

scribed in the PCC’s annual report.

Rental income

Rental income from the letting of the church is recognised when the rental is due.

Investment income

Investment income is included in the SOFA when receivable.

Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss re-

sulting from revaluing investments to market value at the balance sheet date.

Expenditure and Liabilities

Liability recognition

Liabilities are recognised as soon as the legal or constructive obligation arises.

Governance costs

Include costs of preparation and examination of statutory accounts, the costs of

PCC meetings and the cost of any legal advice to trustees on governance or consti-

tutional matters.

Assets

Consecrated and benefice property

Consecrated and benefice property of any kind is excluded from the SOFA by Sec-

tion 10(2) (a) and (c) of the Charities Act 2011.

Moveable church furnishings

These are capitalised at cost and depreciated over their useful economic life.

12

1. Accounting Policies

Basis of preparation

The financial statements have been prepared under the Charities Act 2011 and in

accordance with the Church Accounting Regulations 2006 governing the individual

accounts of PCC’s, together with applicable accounting standards and the State-

ment of Recommended Practice, Accounting and Reporting by Charities (SORP

2005).

The financial statements have been prepared under the historic cost convention

except for the valuation of investment assets, which are shown at market value on

the balance sheet date.

Incoming Resources

Recognition of Incoming Resources:-

These are included in the Statement of Financial Activities (SOFA) when:-

The PCC becomes legally entitled to the benefit of the use of the resources

Their ultimate receipt is virtually certain

The monetary value can be measured with sufficient reliability

Fund raising costs:-

Funds raised from events and trading activities (e.g. a car boot sale, a Christmas

Fayre or sales of books) are reported gross in the SOFA – i.e. before any related

costs that may have been deducted from the gross proceeds.

Grants & donations:-

Grants and donations are included in the SOFA when any pre-conditions preventing

their use by the PCC have been met. For collections and planned giving this is when

the funds are received.

Gift Aid tax claims etc. on cash donations:-

Gift Aid and other tax claims are included in the SOFA at the same time as the cash

donations to which they relate.

Gifts in kind

Gifts in kind are accounted for at a reasonable estimate of their value at the time of

the gift to the PCC, if feasible, or else at the amount actually realised from their

disposal.

Gifts in kind for sale to fund the PCC are included in the SOFA at their estimated

market value at the date of the gift, if feasible, - or else recognised when sold by

the charity.

9

Financial Review

Total unrestricted income amounted to £26511 (£25881). Total unrestricted ex-

penditure amounted to £31295 (£47221), giving an excess of unrestricted expendi-

ture over income for the year of £-4783 (£-21340). Expenditure included £5846 on

architect’s and other professional fees relating to preparatory work for the nave

roof repair, which is scheduled for April 2016.The value of unrestricted equity based

investments increased by £680 (+£2532). Gains on disposals of investments amount-

ed to £256 (£0) Movements in restricted and endowment funds are not material

and details are shown in the financial statements.

Tax efficient planned giving (blue envelopes) increased by £246 (£+1195) from

£8330 to £8576, an increase of 3% (+16.8%). The number of tax efficient planned

givers was 30 (29), giving a weekly average of £5.50 (£5.52) each. Non tax efficient

planned giving (blue envelopes) increased by £117 (£-448), from £1589 to £1706, an

increase of 7.4% (-22%). The number of non-tax efficient planned givers was 8 (6),

giving a weekly average of £4.10 (£5.09) each. Irregular tax efficient giving (yellow

envelopes) reduced by £730 (£-885) from £2822 to £2092, a decrease of 26% (-

24%). The number of unplanned tax efficient donations amounted to 179 (266), giv-

ing an average of £11.69 (£10.61) per donation. Cash giving decreased by £36

(+£96), from £1529 to £1493, a decrease of 2.4% (+6.7%).

Reserves Policy

Reserves are invested in equity based investments through the Church Investment

Fund and in cash deposits through the Church Deposit Fund. Investments exposed

to stock market fluctuations represent 41% (46%) of investments. When adjusted to

exclude £20,000 of roof repair grant held in the Church Deposit Fund, this percent-

ages becomes 48.6% This high exposure to equity based investments is felt neces-

sary to achieve higher levels of income than those currently available from bank

deposits.

10

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 December 2015

Unrestricted Restricted Endowment Total Total

Funds Funds Funds 2015 2014

Note £ £ £ £ £

INCOMING RESOURCES

Voluntary income 2(a) 18341 504 0 18845 18920

Activities for generating funds 2(b) 3160 0 0 3160 2756

Income from investments 2(c) 2293 0 70 2363 2396

Church activities 2(d) 2127 0 0 2127 756

Other incoming resources 2(e) 590 5846 0 6436 1969

TOTAL INCOMING RESOURCES 26511 6350 70 32931 26797

RESOURCES EXPENDED

Church activities 3(a) 30893 6115 0 37008 47735

Cost of generating voluntary in-come 3(b) 192 0 0 192 126

Fund raising expenses 3(c) 210 0 0 210 207

Governance costs 3(d) 0 - - 0 0

TOTAL RESOURCES USED 31295 6115 0 37409 48068

NET INCOMING/(OUTGOING) RESOURCES -4783 235 70 -4478 -21271

GAINS & LOSSES ON INVESTMENT ASSETS

- on disposal 256 256 0

- on revaluation 680 23 704 2624

NET MOVEMENT IN FUNDS -3847 235 93 -3519 -18647

BALANCES BROUGHT FORWARD AT

I JANUARY 125659 2 2459 128120 146767

Transfers between funds 50 -50 0 0

BALANCES CARRIED FORWARD AT

31 DECEMBER 121862 237 2502 124601 128121

11

BALANCE SHEET AS AT 31 DECEMBER 2015

2015 2014

Note £ £

FIXED ASSETS

Tangible 5a 3147 4538

Investments 5b 52883 52229

56030 56767

CURRENT ASSETS

Debtors & prepayments 7 4793 4743

Bank deposits 75833 60476

Cash at bank & in hand 4291 7154

84917 72373

LIABILITIES: AMOUNTS FALLING

DUE WITHIN ONE YEAR

Creditors 8 16345 1020

NET CURRENT ASSETS 124602 128120

LIABILITIES: AMOUNTS FALLING

DUE AFTER ONE YEAR 9 0 0

NET ASSETS 124602 128120

FUNDS

Unrestricted 6 23708 25659

Designated Repair Fund 6 98154 100000

Restricted 6 238 2

Endowment 6 2502 2459

124602 128120

Approved by the Parochial Church Council on 8th March 2016 and signed on its behalf by

Revd. Toby Webber

Vicar

The notes on pages 12 to 19 form an essential part of these financial statements