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Q. p5 Under Current Assets does the Debtors amount of £120,520 include the unpaid parish share?
A. No, the PCC agreed that it was not possible to pay the share in 2020. Most of the Debtors figure (and matching Creditors amount) relate to grants from the Preservation Trust for lighting and other items agreed but not paid until after the year end.
Q. p8 Investment Income has increased dramatically despite decrease in invested capital. Why?
A. The 2020 figure is mostly the £8,451 investment gains shown on page 4, with the remainder is a correction for 2019. It is not clear where the 2019 figure of £59 came from – probably bank interest (only) since investment gains in 2019 were £37,705 (also shown on p4). Obviously this is something we will have to correct prior to the examination process.
Q. p10 Spooner Row Fabric Fund is £10,246. In early 2019 PCC proposed to spend £18,000 on window repairs so where is the rest?
A. Firstly, it needs to be made clear that these ‘funds’ are not actual bank accounts but are simply records of money restricted to particular purposes at the time of donation. Secondly, most PCC proposals would cause money to become ‘designated’. While this sounds similar it is not the same, as it is within the PCC’s power to remove or change this ‘designation’ whereas under charity law the purpose of ‘restricted’ funds cannot be changed except by the original donor. The result is that any extra funds needed for the PCC agreement do not become part of the restricted fund.
According to previous accounts, £15,000 was given in 2017 towards Spooner Row fabric. £198 was spent in 2018 and £4,556 (electrical work) in 2019, giving the current restricted fund balance.
There are two bank accounts (current and savings) used exclusively for SR expenses. At the end of 2020 the balances in these were £4,877.42 and £26,588.93 respectively. This easily covers both Spooner Row restricted funds (fabric and churchyard) and any money designated by the PCC for window repairs.
Q. p8 Why the huge increase in Maintenance and Cleaning?
A. The accounting categories we use do not include any obvious category for fabric upgrades and improvements so the lighting and livestream equipment were both included as Major Repairs. As might be expected, the true maintenance cost was less than in 2019. This categorisation will be corrected for the examined accounts.
More broadly, the Charitable Activities Costs summary still needs some work to correctly reflect the breakdown of expenditure.
Q. p9 The Comparatives don’t appear to be correct.
A. Due to the rush to get these accounts presented at the APCM, these may not reflect 2019 figures. This will be corrected.
Q. p2 Organisational Structure ‘during previous year’ note out of date; List of Trustees does not include Churchwardens.
A. These will be corrected