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St. Mary of Bethany — Annual Report of the Parochial Church Council for the Year Ended 31 December 2021
St. Mary of Bethany Church, Mount Hermon Road, Woking, Surrey GU22 7UH
St. Mary of Bethany Church is part of the Guildford Diocese within the Church of England.
PCC members who have served from 1 January 2021 are:
Ex-officio Members:
Incumbent Associate Vicar Associate Minister (retired with permission to officiate) Curate
Mark Wallace (Chair) Bekah Clark (from March 2020) Ray Marks
Sarah Tapp (from June 2019)
Deanery Synod Representatives: Elected October 2020 Elected October 2020 Elected October 2020 Elected Members (maximum 6 continuous years): Church Wardens:
Rowena Vale (first elected 2018) Caroline Mendham Jonathan Miles Sarah Macdonald (from October 2020) Colin Hickman (from October 2020)
Elected in 2018 for 3 years: (stood down in April 2021)
David Thomas (first elected 2015) Elizabeth Edwards
Elected in 2019 for 3 years:
David Jenkins (from April 2016, Lay-Chair from May 2018, and Acting Secretary)
John Brooks
Elected in 2020 for 3 years:
Derek Wade Simon Crosland Clare Mall
Elected in 2021 for 3 years
Co-opted:
Rebecca Rowland (resigned October 2021) Anne Ansell
Nick Mendham (PCC Treasurer) until April 2021 Richard Warne (PCC Treasurer) from May 2021
The Church bankers are:
Barclays Bank PLC, Town Square, Woking Surrey GU21 1YG CAF Bank Ltd., 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
The Independent Examiner is:
Edwards Greene, 9 Innovation Place, Douglas Drive, Godalming, Surrey GU7 1JX pending approval by the APCM, to perform the Independent Examination of the 2020 accounts.
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Structure, Governance and Management
The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under statute law, The Parochial Church Council (Powers) Measure 1956. The PCC of St Mary of Bethany, Woking was registered with the Charity Commission on 26 March 2009 (registered No. 1128813). PCC members therefore act as charity trustees.
The rules of appointment of PCC members are governed by and set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
New PCC members are provided with information on the structure of the PCC and their role and responsibilities as a PCC member. PCC members are briefed on safeguarding issues by the Parish Safeguarding Representative. There are Finance and HR teams that advise and make recommendations to the PCC in these areas and while there is no formal Fabric Team the Church Wardens work with a number of members of the congregation on managing the fabric of the church and a maintenance budget is agreed annually by the PCC. All proposals for capital or on-going financial commitments or legal matters are approved by the PCC.
The major risks to which the PCC is exposed have been reviewed and systems or procedures have been established to achieve good practice and to manage risk in areas, such as health and safety, child protection, disability discrimination, employment legislation and sound financial management.
Standing Committee (SC)
This is the only committee required by law. It comprises the incumbent, Associate Vicar, curate, churchwardens, PCC lay chair, treasurer and secretary and has the power to transact the business of the PCC between its meetings, subject to any directions given by the Council. Other members of the PCC may be co-opted to the Standing Committee as necessary.
Ministry Team
This is composed of the clergy Mark Wallace, Bekah Clark, Ray Marks, Sarah Tapp and members of the staff team, and the church wardens (when they are available). Meetings are held regularly to plan and review ministry, and deal with issues as they arise.
The ministry staff are Dave Doran (Youth Minister), Tina Thomas (Young Families Minister) and Kate Clarke (Children’s Minister). Up until July they were assisted by an Intern, Joel Thomas.
The administrative staff are Jess McNutt (Office Manager), Sharon Row (Office Administrator) and Christine Strutt (Bookkeeper).
Leadership Vision Team
The LVT is made up of representatives of the congregation, staff and ministers and its purpose is to help us discern God’s will for us as a church.
Go! Team
The Go! Team actively promotes mission both in the UK and overseas by keeping in touch with mission partners and encouraging the church to pray for those we support. The church gives 10% of its church giving to mission. The Go! Team’s budget represents 85% of this amount from which funds are allocated to mission partners both here in the UK and abroad. 15% is allocated to the PCC for responding to appeals that arise during the year, but during 2020 it was agreed that 10% of the 15% tithe would be given to St Michael’s Sheerwater annually until 2025 to support their ministry. The Go! Team also manages distribution of the funds raised annually through “Making Mission Possible”.
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Finance Team
The Finance Team supports the Treasurer and guides the PCC in matters of financial management and stewardship.
HR Team
The HR team advises on and oversees our employment policies, recruitment practices and drafts employment contracts. They also administer and manage salary planning and implementation, administer the pension fund and payroll and benchmark new or replacement positions for salary planning.
Objectives and Activities
The PCC has the responsibility of co-operating with the incumbent, Mark Wallace, in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC also has regard to the Charity Commission’s guidance on public benefit.
St. Mary of Bethany’s mission statement is “God’s transforming people in our parish: To love Jesus, to serve and tell others, to be community”. The mission statement is in line with the first two priorities set out in the Diocese strategy of Transforming Church, Transforming Lives.
The Church Development Plan for the second year of the two-year period 2020-2021 is:
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e Going deeper — everyone taking the next step in their discipleship journey with Jesus. e Going further— developing our mission and evangelism to reach more people with the gospel. e Ready to build — consulting and planning to upgrade our church and building.
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Members are encouraged to support the work of the church through prayer, service and giving.
During the second half of 2021 the service pattern reverted back to a 2-service pattern, with Sunday services at 9:15 and 11am offering different styles of service and celebration. These were supplemented by an 8.00am communion service on the first Sunday of each month. Coffee was also reintroduced between the services to promote fellowship once COVID restrictions permitted this. Ray Marks continued to be involved in preparing the preaching programme for the year which centres on expository preaching of Bible books, interspersed with some thematic series.
During the first part of the year a single combined Service was held and was broadcast online, attracting good attendance including from people not based in Woking. At least one of the Sunday services has been broadcast online each Sunday to enable those who were either unable or not ready to attend the services in person. Safety measures in response to the COVID pandemic remained in place all year, but it was encouraging to see the return of live music during the year and the recommencement of children’s and youth activities.
Homegroups provide the primary source of pastoral care and an important aspect of encouraging discipleship. These have been pivotal in the life of the church during 2021 as they continued to mainly meet virtually. The majority of church members attend homegroups and there are groups which meet at a variety of times in the day, and different days of the week on a weekly, biweekly or monthly basis. The most common pattern is a weekly meeting on a Wednesday evening. Groups often follow the sermon series and use their time together for Bible Study, worship and prayer. Some homegroups actively engage in supporting mission partners and some groups are also involved locally in serving the community through local projects such as the Foodbank (Trussell Trust) and the Besom Project. There was one Homegroup Central evening launching the Leading in Love and Faith and SHAPE Courses, and also a 2-part House Group Central where the aim was to think about how our small groups relate to our life as a church and the shared vision we have to be ‘Gods transforming people in our parish: to love Jesus, to serve and tell others, to be community. '
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Support for homegroups was provided by a leadership team consisting of Peter and Heather Valetta, Jonathan Miles and Sarah Tapp, with Sarah taking on overall leadership when Heather left to start her training for the Ministry.
Homegroups support the church and individuals through prayer. The church provides a monthly prayer diary to help direct prayer, and church members have been invited to join the morning prayer times with the staff team online during the pandemic. Central monthly prayer meetings have been paused whilst we cannot meet in church during the pandemic but have been replaced by the occasional House Group Centrals.
We ran the Alpha Course followed by The Bible Course and were also able to run the Living in Love and Faith course and some House Groups also ran the Shape course. We also hosted Woking Deanery’s Living in Love and Faith Course in the autumn.
During 2021 many of the regular activities that could not be held in 2020 due to the pandemic returned to the church building with appropriate safety measures in place. These music rehearsals, Bethany Babes parent and toddler groups, CAMEO (a fortnightly meeting for older people), Talk Easy (an English conversation practice group) and FNC youth group. FX, the Friday night youth group for older teenagers was unable to restart due to there being insufficient helpers.
A wide range of other community groups have started to use the buildings again during 2021, including Brownies, Guides and Rangers, resident association AGMs and performing art groups.
A combined Fun Club for both boys and girls in Barnsbury School also started up again in 2021 but with limited numbers permitted.
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Achievements and Performance
In April 2021 there were 195 members on the Electoral Roll, which compares with 196 members in September 2020, a decrease of 1.
2021 was the final year of our current two-year development plan and will be updated in 2022.
As part of the focus on mission and evangelism the church ran an online Alpha Course, attended by 5 guests. Whilst the pandemic meant that there were limited events that could take place for members to invite friends and family. These included Chill Events, and a Quiz Night for Tear Fund. We were also able to hold a full programme of services for Christmas, including the carol service for Woking Mencap and an outdoor community carol service which was well attended and received good press coverage
Once again the church acted as a polling station for the local elections in May, but we were unable to serve refreshments.
Bekah Clark our Associate Vicar entered her second year. As well as preaching and sharing in other church ministries, Bekah has forged strong links with other evangelists in Woking and within the local community. She has also helped the church to become more focused on our mission and community engagement, and this culminated in the community carol service held in December, attended by the Mayor and local MP. Developing links with Morrisons look like opening up opportunities in 2022.
Sarah Tapp has continued her involvement in all aspects of church life as she moved into her final year of training and took on leadership of the House Groups, whilst handing over the Alpha course to Bekah. Joel Thomas continued as an intern under the New Wine programme through until the summer of 2021. He spent one day per week training and focused on supporting our children’s and youth work. He also contributed musically.
The church is committed to work with young people, both in terms of the time given by volunteers and staff, but also in the financial support provided. There is a regular programme of Sunday morning and evening groups for young people aged from around 4 years old to 18. In addition, the church provides two youth groups on Friday night (FNC and FX) which cater for young people aged 7-11, and 11-18, although FX has not been able to meet this year due to a shortage of helpers. With the restrictions caused by the pandemic the team was also highly creative in producing material and online events that children and young people could engage with. When the church was open a couple of family services were arranged on a Sunday afternoon and we were able to hold two nativity services this year. We are unusual as a church in the relationships we have with some of our local schools, not all of which are church schools.
For much younger children and their parents and carers we have a reputation for the care provided at Bethany Babes. We are pleased that we were able to reopen these groups during the year.
Ministry aimed specifically at older people is offered through CAMEO which normally meets twice monthly at church and has occasional trips out. CAMEO started meeting again in the autumn, and the team is working on a new, more inclusive vision for this ministry, which we plan to relaunch in 2022. It has been possible to recommence holding services in local sheltered housing at Ebbage Court and Homebeech (the latter is run in partnership with the United Reformed Church).
Two areas where Church members have particularly stepped up this year are with music and AV technology. A number of new musicians have joined the rota and we are grateful to them. The Audio-Visual and IT Teams have ensured that as many church members as possible have been able to access the services. A number of new members of the AV team were trained in the autumn.
Progress was made on developing the building to ensure it can support the church ministry and local community well into the future. The plans, developed by MEB Design, have received planning approval, both by the Council and the Diocese, although work is unlikely to commence before 2023. The flat roof was
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rewaterproofed during the year, having deteriorated over the year. The quinquennial inspection of the building was also undertaken at the end of the year.
The PCC and SC met on 12 occasions during 2021, mainly online. Meetings were structured to ensure that every aspect of church life has been considered over the course of the year, including those areas which enable the smooth and effective running of the church, such as HR, how we welcome newcomers and nurture members and young people, to those areas focussed on mission and our engagement with the wider community. Every meeting has examined the finances of the church and decisions about expenditure have been agreed by the PCC. PCC meetings have also reviewed our safeguarding. During the year we continued to focus on how we respond to the impacts of the pandemic on our church members, those who normally use our building, the community, the staff and our finances. The PCC held a virtual half-day away, led by Bekah Clark, when the PCC reflected on what it means to be an inter-generational church.
Prayer continues to be central to all we do and in addition to regular prayer, opportunities for individual prayer in services and prayer chains. The church published a monthly prayer diary.
The church supports 7 Mission Partners many of whom now have close ties with the church. It was a real encouragement to be able to have Sarah Yanez (CMS) join us in person in October for a weekend of events for Making Mission Possible, where over £20,000 was raised to support our Mission Partners. A regular Mission Partners prayer update continued to be produced throughout 2021 and as well as Mission Prayers on the first Sunday of each month, our Mission Partner working with persecuted Christians spoke at our 9.15am and 11am services in November and Shelley Blunden (Engage) joined us for both services on the first Sunday of December.
The church increased its use of social media to promote events and create community during the pandemic. Mark or one of the team post regular blogs and Facebook has been used to promote all that we have been able to do during the year. Our services are all accessible through the website.
During the year (June to September) our Incumbent, Mark Wallace, took a period of Extended Ministerial Development Leave, postponed from 2020, and the PCC is grateful to Bekah for leading the church during this time.
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Financial Review
Summary
2021 was another challenging year for St Mary of Bethany Church and its congregation, with the pandemic continuing to impact how the Church was able to meet and the work of our teams. From a financial perspective 2021, as a result of the continued generosity of our members and the careful stewardship of our resources, we have been able to end the year with only a small deficit on our General Fund (used for the day-to-day running of the church) of just under £8,000, which we are able to cover from our excess reserves. We were also blessed with generous legacies which we have placed aside for our future needs. Giving to external mission and other charitable needs for the year was over £56,000. We continued to manage our expenses carefully in light of the uncertainties. Relative to many churches in the Diocese, our financial position remained resilient. However, as we look forward to 2022 and beyond, our budgets show that we will need to reduce our expenses and/or increase our income if we are to keep our financial position sound. In the last two years we have relied on funds set aside to enable us to support our vision and to balance our books, but our underlying income does not cover our expenses. These funds set aside will not cover us beyond 2023, so the PCC is looking how we can address this shortfall.
Our Income- what we received as gifts and other sources of income
In 2021 we continued to be blessed by generous regular planned donations in excess of £212,000, which is an increase of over £5,000 from 2020. We are grateful for the generosity of our Church members. We also received very generous legacies from faithful former members of our congregation to the value of nearly £77,000. £30,000 of this was for mission work, with the remainder to be used for the discretion of the PCC. This sum has been put aside for the future needs of the Church as it was not immediately required. Oneoff gifts however declined from 2020 by more than over £29,000. One-off gifts are an important source of income for the Church and often make up any shortfall in our income, so the trend is of some concern. Other sources of income were also impacted by reduced activity although there was a slight increase from 2020 in our Youth and Children’s activities income as there was a welcome return to several of the clubs in the second half of the year. We also received just under £10,000 in furlough payments from the Government Coronavirus Job Retention Scheme. We will continue to search for opportunities to apply for grants wherever possible, including to reclaim VAT on maintenance expense from the Listed Places of Worship scheme.
Mission and other Charitable giving
Giving for mission and other charitable work continued strongly with the Making Mission Possible campaign raising over £22,000 —a little less than 2020. Our Tithe was £30,000 and our donations to the Woking foodbank equated to a value of over £2,500. Details of the grants made are set out in note 12 to the Financial Statements on page 13.
Our Expenses - how we used our resources
Our expenses continued to be managed tightly in light of the uncertainties we faced. The expenses associated with our various ministries continued at lower values than usual reflecting the constraints on
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our work. Our largest expense item - staff costs - increased slightly at just over £174,000. The parish share — which is our contribution to the Diocese of Guildford- remained at the same level as 2020 at approximately £97,000. During the year we repaired the flat roof and purchased new chairs as the first part of building development utilising the monies in the building development designated fund. This will leave approximately £110,000 left in the fund for the next phase of the building development. The PCC also agreed to set aside £15,000 to the Major Maintenance Fund for future maintenance needs which may arise as a result of the Quinquennial Inspection carried out at the end of 2021, or longer-term needs such as Church redecoration. We were also able to support the community carol service which may be model for future events.
The Church also faced some increased inflationary costs. In 2021 the Church Wardens and Treasurer, under advice from our energy broker, agreed new fixed cost electricity and gas tariffs which will fix our tariff until 2024, but at a higher rate than the previous tariff. We believe this will protect the Church from the expected increases in energy costs.
The team supporting our finances
During the year Nick Mendham stood down as Treasurer after 8 years of faithful service and | was appointed as Treasurer by the PCC in May. | am very grateful for the hard work that Nick undertook in his role that resulted in the financial position and infrastructure being in such good shape. The 2021 accounts have been prepared by Hugh Andrews and Christine Strutt, with Richard Edwards (of Edwards Greene) once again undertaking the independent examination. We are very grateful to Hugh and Christine for their outstanding work in preparing the accounts.
The finance team of Nick Mendham, Hugh Andrews, Becs Allin, Brian Harris, John Rowland and Richard Warne have met regularly through the year. John Rowland stood down from the team towards the end of the year as he and Becca moved to Oxford, and we will miss his business acumen, financial skills and humour on the team. We are delighted that Adrian Brookes has joined the team in January 2022. Christine Strutt continues to do a wonderful job as bookkeeper. We are so grateful to the Treasury Team for their work in counting and banking, particularly Helen Brooks, who has come in every week during the lockdown to count and bank money placed in the wall safe. In the last year Beryl Ralph after over 20 years of faithful service has decided to step down from the team. We are grateful for all she has done. Anne Bulmer has joined the treasury team. OptimumAccounting, (Knaphill) ran our payroll, an arrangement which generally has worked well.
Each PCC and Standing Committee meeting receives a detailed update on the finances of the Church. The congregation receives updates at the APCM and we are looking at ways to give regular updates throughout the year.
2022 - 2024 Budget- supporting the vision in uncertain times
In preparing the 2022 — 2024 budget we have looked at historic trends, national statistics for the broader national church and our likely future needs. Historically regular giving does not cover our expenses, and we have relied upon one off gifts, legacies and money we have put aside from years in surplus to meet any shortfall. In 2020 we hired an associate vicar in line with our vision, having put aside funds to support this position in the short-term pending an increase in giving. Although regular giving has increased slightly the underlying
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position is that our expenses exceed our income and without the support of these funds we had put aside we would have an operating deficit.
At a national level church parish finances continue to be under pressure with the median income of all parishes declining by 6% in real terms over the decade to 2019 (the latest available). The median total income for parishes in 2019 was £45,000 — which means that half of the parishes have an income of less than that sum. We are aware anecdotally that in the last two years during the pandemic many Churches have seen their income decline significantly -particularly those that relied upon sources of income such as hall hire.
St Mary of Bethany is blessed with income that puts the church comfortably in the top 10% of parishes. Our median regular gift we receive is three times the national level and twice the median gift in the Diocese of Guildford. In line with national trends we have not seen an increase in regular gifts over the last decade, and in the last year we saw a decline in one off gifts. Each year we see people move away from the parish and these can be members who give regularly, so each year we need to find new givers and see increases in existing gifts just to maintain our levels of income.
On budgeted expenses we anticipate increased costs as the Church activity returns to normal levels. We also see additional inflationary pressures.
The impact of these trends is that we may incur a significant deficit in 2022 and will exhaust in early 2023 the funds we had put aside and have been using to support our ongoing work. The PCC is reviewing options as to how we reduce our costs if we cannot meet the deficit through increased giving.
Building Development
We started work on the development of the Church in 2021 using the Building Development Fund which had been put aside by the PCC for this purpose. The flat roof has been refurbished and new chairs purchased which can be stored in less space. We have approximately £110,000 remaining in the Building Development Fund, which can be used to support the next phase of the project. It will be necessary to raise significantly more to complete the project. The PCC has agreed that we will need to resolve the deficit on the General Fund of the Church before embarking on additional fund raising for the building project. This is likely to be in late 2022 or 2023.
Reserves Policy
Our free reserves on the General Account at the end of 2021 amounted to approximate £66,000. This is above our policy minimum of 2 months (equivalent to approximately £56,000). At the end of 2020 our free reserves were approximately £76,000. We remain in a satisfactory position, although our position is not as strong as the previous year, and this is monitored on a regular basis through the finance team and PCC. Our Reserves situation and policy is reviewed at each finance meeting.
In addition to the General Fund, the PCC has set aside funds to act as seed capital for a future building project, to assist with any future major maintenance work, plus a fund to support the appointment of the associate vicar, now repurposed in 2021 as the Mission and Evangelism Designated Fund. Funds are also held for specific uses as requested by donors. Details of all funds are shown in Note 11 on Page 12 of the accounts.
Guildford Diocese retains the title deeds of our staff house at 46 Hawthorn Road, purchased by the PCC some years ago. In line with our policy to value freehold land and property every 5 years we revalued this
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property at the end of 2021 and recorded an increase in value of £50,000. The Central Board of Finance of the Church of England hold investments under an endowment (the Thorne Bequest), the annual income from which contributes towards the maintenance of the Church building. Our surplus cash funds are held in notice accounts with FSCS-approved banks and building societies and in current accounts with CAF Bank and Barclays Bank.
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ST MARY OF BETHANY CHURCH, WOKING
FINANCIAL STATEMENTS
31 DECEMBER 2021 CHARITY REGISTRATION NUMBER: 1128813
Mount Hermon Road Woking Surrey GU22 7UH
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ST MARY OF BETHANY CHURCH, WOKING
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS/TRUSTEES OF ST MARY OF BETHANY CHURCH, WOKING PAROCHIAL CHURCH COUNCIL
I report on the accounts for the year ended 31 December 2021 which are set out on pages 2 to 14.
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:
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examine the accounts under section 145 of the 2011 Act;
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- follow the procedures laid down in the General Directions given by the Charity Commissioners in section 145(5)(b) of the 2011 Act; and
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- 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 with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the management committee 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:
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(1) which give me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the 2011 Act; or - to prepare accounts which accord with these accounting records have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the q.ANAK
Richard Edwards FCA FCCA CTA
Edwards Greene
Chartered Accountants
9 Innovation Place Douglas Drive Godalming Surrey GU7 1JX
Date: L Mow 2OLL
Page 2
ST MARY OF BETHANY CHURCH, WOKING
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Funds |
Restricted/ Endowment |
TOTAL FUNDS |
TOTAL FUNDS |
||||||
|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Revaluation | Funds | 2021 | 2020 | ||||
| Note | £ | £ | £ | £ | £ | £ | |||
| INCOME FROM: | |||||||||
| Donations and Legacies | 2a, 3 | 297030 | 47840 | - | 63432 | 408302 | 374182 | ||
| Church Activities | 2b | 5247 | - | - | 137 | 5384 | 4542 | ||
| Fundraising Activities | 2¢ | 584 | - | - | - | 584 | 3174 | ||
| Investments | 2d | 2473 | - | - | 373 | 2846 | 3593 | ||
| Other Sources | 2e | 9524 | 305 | - | - | 9829 | 10232 | ||
| TOTAL INCOME | 314858 | 48145 | - | 63942 | 426945 | 395723 | |||
| EXPENDITURE ON: | |||||||||
| Grants | Aa, | - | 30123 | - | 26636 | 56759 | 65563 | ||
| 12 | |||||||||
| Church Activities | 4b | 317924 | 69953 | - | 1561 | 389438 | 322131 | ||
| Fundraising Activities | 4c | - | - | - | - | - | 343 | ||
| TOTAL EXPENDITURE | 317924 | 100076 | - | 28197 | 446197 | 388037 | |||
| Gain/(Loss) on Investments | 6b | - | - | - | 184] | 1841 | 827 | ||
| NETINCOME/(EXPENDITURE) | (3066) | (51931) | - | 37586 =(17411) | 8513 | ||||
| TRANSFERS | 11 | (4594) | 9851 | - | (5257) | - | - | ||
| BETWEEN FUNDS | |||||||||
| OTHERRECOGNISED GAINS: | |||||||||
| Gain/(loss) on Revaluation |
of | 6a | - | - | 50000 | - | 50000 | = | |
| Fixed Assets | |||||||||
| NETMOVEMENT INFUNDS | (7660) | (42080) | 50000 | 32329 | 32589 | 8513 | |||
| RECONCILIATION OF FUNDS: | |||||||||
| Total Funds brought forward | |||||||||
| at | January 2021 | 11 | 392330 | 279805 | 104108 | 33697 | 809940 | ||
| Total Funds carried forward | ~ | 384670 | 237725 | 154108 | 66026 | 842529 | 809940 | ||
| at31December2021 | 10,11 |
Page 3
ST MARY OF BETHANY CHURCH, WOKING
BALANCE SHEET
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AS AT 31 DECEMBER 2021
2021 2020
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 6a 472081 419859
Investments 6b 14707 12866
486788 432725
CURRENT ASSETS
Debtors 7 4051 4435
Investments 8 254342 253741
Cash at bank and in hand 175322 142249
433715 400425
CURRENT LIABILITIES
Creditors - amounts falling due
within one year 9 (77974) (23210)
NET CURRENT ASSETS 355741 377215
TOTAL NET ASSETS 842529 809940
PARISH FUNDS
Unrestricted:
General 11 384670 392330
Designated 11 237725 279805
Revaluation Reserve 11 154108 104108
776503 776243
Restricted 11 51319 20831
Endowment 11 14707 12866
TOTAL FUNDS 842529 809940
Approved by the Parochial Church Council on _4)} mu Mercia 2022 and signed on its behalf by:
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The notes on pages 4 to 14 form part of these accounts.
Page 4
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
- ACCOUNTING POLICIES
ST MARY OF BETHANY CHURCH, WOKING
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), relevant accounting standards and charity law.
The financial statements have been prepared under the historical cost convention except for the valuation of 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.
The church is a public benefit entity. There are no material uncertainties about its ability to continue and the financial statements have been prepared on a going concern basis.
Funds
Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available to be used for the general purposes of the PCC.
Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes.
Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year is carried forward as a balance on that fund.
Endowment funds represent assets received that may not be exhausted; only the income may be spent. Net investment gains and losses are recognised within the endowment fund.
Incoming Resources
(i) Donations and Legacies
Collections are recognised when received by or on behalf of the PCC.
Planned giving is recognised when received.
Income tax recoverable on Gift Aid donations is recognised when the income is recognised.
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due can be measured reliably and its ultimate receipt by the PCC is probable.
Gifts in kind donated for distribution are included at valuation and recognised as part of donated income when distributed, with the equivalent amount recognised as charitable expenditure.
In accordance with the SORP, no value has been attributed to the work performed by volunteers, although their work is considered vital to the mission of the church.
(ii) Fundraising Activities Rental income from the letting of church properties is recognised when the rental is due.
Page 5
ST MARY OF BETHANY CHURCH, WOKING
- ACCOUNTING POLICIES (continued)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
-
(111) Investment Income Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue.
-
(iv) Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments.
Resources expended
-
(i) Expenditure is accounted for on an accruals basis, and is recorded gross.
-
(ii) The share of Parochial Fees, primarily charged for weddings and funerals, payable to the Diocese is accrued and accounted for when the corresponding income is recognised.
-
(iil) Grants and donations, including the proportion of donated income set aside by the PCC to be paid out to individuals and institutions for missionary purposes, are accounted for when paid over, or when there is a legal or constructive obligation to make a payment, the payment is probable, the amount can be measured reliably and there are no conditions attaching to the payment that limit its recognition.
Tangible Fixed Assets
Tangible fixed assets are recorded at cost, except as noted below.
-
(i) Consecrated Property Consecrated and beneficed property of any kind is excluded from the accounts by Section 10 of the Charities Act 2011. All expenditure on consecrated or beneficed buildings is written off as incurred.
-
(ii) Movable Church Furnishings Movable church furnishings held by the Vicar 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 inalienable property acquired prior to 2001 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 over £1,000 are capitalised; items under £1,000 have been expensed as incurred. All expenditure on the repair of movable church furnishings is written off as incurred.
-
(iii) Church Equipment, Office Equipment and Audio Visual Equipment Church equipment, office equipment and audio visual equipment (including computer equipment and software) over £1,000 is capitalised. Items under £1,000 are written off as incurred.
-
(iv) Freehold Land and Buildings Freehold land and buildings are revalued every 5 years to the current market value and an impairment review is carried out at each year-end in the intervening years and any resultant loss identified included in the expenditure for the year.
Page 6
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
Depreciation is provided at rates calculated to write off the costs as indicated below: Freehold properties Nil Movable Church Furnishings Reducing balance basis of 25% pa Audio Visual Equipment Straight-line basis over 15 years Other Church Equipment Reducing balance basis of 25% pa Office Equipment Reducing balance basis of 25% pa
Fixed Asset Investments
Fixed asset investments are recorded at market value.
Current Assets
-
(i) Debtors are measured at the consideration expected to be received in their settlement or the amount paid in advance by the church for the goods or services it will receive.
-
(il) Current asset investments comprise cash deposits with a maturity of less than one year that are not held to meet short-term cash commitments.as they fall due. They are recorded at their market value.
(iii) Cash at Bank and in Hand are deposits held to meet short-term cash commitments as they fall due.
Current Liabilities
Creditors are recognised when the liability arises and are measured at the cash amount or other consideration expected to be paid in their settlement or the amount received by the church as advance payment for goods or services provided.
Concessionary Loans
Concessionary loans are initially recognised in the accounts at the amount received with the carrying amount adjusted in subsequent years to reflect repayments and any accrued interest.
Pension Costs
The PCC operates a defined contribution pension scheme for staff. The amounts charged to the Statement of Financial Activities (SOFA) in respect of pension costs are the contributions and scheme fees payable in the period. Differences between the amounts payable in the year and amounts actually paid are shown as either accruals or prepayments in the balance sheet.
Taxation
St Mary of Bethany Church is a registered charity and is thus exempt from tax on income and gains to the extent that these are applied to its charitable objects.
Irrecoverable VAT is not separately analysed and is charged to the Statement of Financial Activities when the expenditure to which it relates is incurred and is allocated as part of that expenditure.
Page 7
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2.|INCOME|
|Unrestricted|All|Restricted|
|Funds|and|Endowment|TOTAL FUNDS|
|General|Designated|Funds|2021|2020|
|£|£|£|£|£|
|(a)|Donations|and Legacies|
|Planned|Giving:|
|Gift|Aided|donations|198217|-|300|198517|=|194432|
|Other|14073|-|-|14073|12933|
|Other|Church|Giving:|
|Gift|Aided|donations|22451|-|21175|43626|68036|
|Other|6760|-|3531|10291|14984|
|Tax Recoverable|55289|-|5119|60408|70341|
|Legacies|-|46050|30701|76751|10503|
|Grants|240|1790|-|2030|-|
|Donated|goods|for|distribution|-|-|2606|2606|2953|
|Total|297030|47840|63432|408302|374182|
|(b)|Church|Activities|
|Fees|4168|-|137|4305|3874|
|Youth|and|Children’s|Activities|1079|-|-|1079|543|
|Other|Activities|-|-|-|-|125|
|Total|5247|-|137|5384|4542|
|(c)|Fundraising|activities|
|Rental|income|-|-|-|-|2610|
|Other|fundraising|income|584|-|-|584|564|
|Total|584|-|-|584|3174|
|(d)|Investments|
|Gross|bank|interest|2473|-|-|2473|3232|
|Dividends|-|-|373|373|361|
|Total|2473|-|373|2846|3593|
|(e)|Other|Sources|
|Coronavirus|Job|Ret|Scheme|9522|-|-|9522|10083|
|Other|income|2|305|-|307|149|
|Total|9524|305|-|9829|10232|
|TOTAL INCOME|314858|48145|63942|426945|395723|
----- End of picture text -----
- DONATED GOODS AND SERVICES Donated goods recognised in these accounts comprise groceries given by church members for distribution to the local foodbank.
The church benefits from the contribution of many unpaid general volunteers in all areas of church life - for example in worship (leading services), discipleship (hosting home groups), mission (serving on the Go! Team), prayer (members of the prayer ministry team), children’s work (leading groups), fabric maintenance (building repairs), administration (maintaining rotas) and many more. It is impractical to place a value on this contribution and therefore it is not included in these accounts.
Page 8
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
| 4. | EXPENDITURE | |||||
|---|---|---|---|---|---|---|
| Unrestricted | All Restricted | |||||
| Funds | and Endowment | TOTALFUNDS | FUNDS | |||
| General | Designated | Funds | 2021 | 2020 | ||
| £ | £ | £ | £ | £ | ||
| (a) | Grants | |||||
| Missionary and charitable giving: | ||||||
| PCC Giving | - | 30123 | - | 30123 | 34037 | |
| Making Mission Possible | - | - | 22565 | 22565 | 26313 | |
| Donated Goods | - | - | 2606 | 2606 | 2953 | |
| Other Giving | - | - | 1465 | 1465 | 2260 | |
| Total Grants | - | 30123 | 26636 | 56759 | 65563 | |
| (b) | Church activities | |||||
| Staffing | 174676 | - | - | 174676 | 170296 | |
| Diocese | ||||||
| Diocesan Parish Share | 97027 | - | - | 97027 | 97027 | |
| Diocesan fees | 1001 | - | - | 1001 | 2447 | |
| Total Diocese | 98028 | - | - | 98028 | 99474 | |
| Building | ||||||
| Depreciation ofEquipment | 7887 | - | - | 7887 | 7407 | |
| Maintenance and Repairs | 3690 | 59604 | 466 | 63760 | 3706 | |
| Heat, light& water | 5644 | - | - | 5644 | 3101 | |
| Insurance | 2709 | - | - | 2709 | 2675 | |
| Cleaning | 3189 | - | - | 3189 | - | |
| Professional fees | - | 10309 | - | 10309 | 12534 | |
| Quinquennial Inspection | 1200 | - | - | 1200 | - | |
| Total Building | 24319 | 69913 | 466 | 94698 | 29423 | |
| Ministries | ||||||
| Children’s Ministry | 2479 | - | - | 2479 | 1742 | |
| Vicar’s Ministry | 1612 | - | - | 1612 | 1197 | |
| Hospitality | 389 | - | - | 389 | 1001 | |
| Outreach | 1285 | - | - | 1285 | 854 | |
| Worship Ministry | 998 | - | - | 998 | 826 | |
| Curates Ministry | 1116 | - | - | 1116 | 798 | |
| Vicar’s Discretionary Fund | - | - | - | - | 725 | |
| Youth Ministry | 226 | - | - | 226 | 453 | |
| Young Families Ministry | 189 | - | - | 189 | 427 | |
| Books | 69 | - | - | 69 | 211 | |
| Youth& Children’s Events | - | - | - | - | 42 | |
| TotalMinistries | 8363. | - | - | 8363 | 8276 |
Page 9
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
| FORTHEYEARENDED 31 DECEMBER 2021 | FORTHEYEARENDED 31 DECEMBER 2021 | FORTHEYEARENDED 31 DECEMBER 2021 | FORTHEYEARENDED 31 DECEMBER 2021 | ; | |||
|---|---|---|---|---|---|---|---|
| (continued) | |||||||
| 4. | RESOURCESEXPENDED (continued) | ||||||
| Unrestricted | All Restricted | ||||||
| Funds | and Endowment | TOTALFUNDS | FUNDS | ||||
| General | Designated | Funds | 2021 | 2020 | |||
| £ | £ | £ | £ | £ | |||
| (b) | Church activities (continued) | ||||||
| Support and Other Costs | |||||||
| IT Software/Consumables | 2741 | - | - | 2741 | 5260 | ||
| Accountancy/Bookkeeping | 2640 | - | - | 2640 | 2196 | ||
| Telephone& Internet | 1563 | - | - | 1563 | 1793 | ||
| Communications | 970 | - | - | 970 | 1479 | ||
| Printing/Stationery/Postage | 1044 | - | - | 1044 | 766 | ||
| Bank Charges | 294 | - | - | 294 | 461 | ||
| Subscriptions | 515 | - | - | 515 | 405 | ||
| Equipment | - | - | - | - | 250 | ||
| Flowers | 280 | - | - | 280 | 229 | ||
| Independent Examination | 600 | - | - | 600 | - | ||
| Sundry Expenses | 1891 | 40 | 1095 | 3026 | 1823 | ||
| Total Support and Other | Costs | 12538 | 40 | 1095 | 13673 | 14662 | |
| Total Church Activities | 317924 | 69953 | 1561 | 389438 | 322131 | ||
| (c) | Fundraising activities | ||||||
| Rented House Costs | - | - | - | - | 343 | ||
| Total Fundraising Activities | - | - | - | - | 343 | ||
| TOTALEXPENDITURE | 317924 | 100076 | 28197 | 446197 | 388037 | ||
| 5. | STAFF COSTS | 2021 | 2020 | ||||
| £ | £ | ||||||
| Wages and salaries | 101587 | =103155 | |||||
| Social security costs | 3009 | 3049 | |||||
| Pension costs | 4115 | 4087 | |||||
| Total | 108711 | 110291 |
- RESOURCES EXPENDED (continued)
The church operates a defined contribution Pension Scheme for its employees. All payments due in the year have been charged to unrestricted funds in the Statement of Financial Activities.
No employees received emoluments of more than £60,000 for the year (2020 None). Remuneration paid and benefits provided to the church’s key management personnel - the Vicar and other PCC members — are disclosed in Note 13 below.
The average number of staff employed during the year was 6.4 (2020 7.0), comprising 2 full time (2020 2) and 4.4 part time staff (2020 5.0), which equates to 3.7 full time equivalent posts (2020 3.8).
Page 10
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
6. FIXED ASSETS FOR USE BY THE PCC
| Freehold | Freehold | Freehold | Office | Audio | Church | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| land | equipment | Visual | equipment | Total | |||||||||
| and | Equipment | ||||||||||||
| buildings | |||||||||||||
| £ | £ | £ | £ | £ | |||||||||
| (a) | Tangible fixed assets | ||||||||||||
| Cost | At | January 2021 Additions |
350000 - |
27467 - |
86738 - |
23173 10109 |
|||||||
| Revaluation | 50000 | - | - | - | 50000 | ||||||||
| At | 31 December2021 | 400000 | 27467 | 86738 | 33282 | 547487 | |||||||
| Depreciation | At | 1 January 2021 | - | 23581 | 23612 | 20326 | 67519 | ||||||
| Charge | for theyear | - | 972 | 5781 | 1134 | 7887 | |||||||
| At | 31 December2021 | - | 24553 | 29393 | 21460 | 75406 | |||||||
| NetBook Value | 31 | December2021 | 400000 | 2914 | 57345 | 11822 | 472081 | ||||||
| 31 | December 2020 | 350000 | 3886 | 63126 | 2847 | 419859 | |||||||
| The freehold land and buildings | comprise 46Hawthorn | Road on the Barnsbury Estate, which was valued on | |||||||||||
| an open market basis | in | January | 2022byL Morales | ofFoundations. Its | historical cost is £245892, | ||||||||
| (b) | Investments | ||||||||||||
| Balance 1 | Additions | Withdrawals | Gain | Balance 31 | |||||||||
| January | December | ||||||||||||
| 2021 | 2021 | ||||||||||||
| £ | £ | £ | £ | £ | |||||||||
| Quoted Investments: | |||||||||||||
| CBF CofE | |||||||||||||
| Investment Fund | 12866 | - | - | 1841 | 14707 | ||||||||
| Total | 12866 | - | - | 1841 | 14707 | ||||||||
| ae | DEBTORS | 2021 | 2020 | ||||||||||
| £ | £ | ||||||||||||
| Rented house deposit | 1904 | 1904 | |||||||||||
| Accounts receivable | - | 217 | |||||||||||
| Income tax recoverable | 2096 | 1987 | |||||||||||
| Prepayments and accrued | income | 51 | 327 | ||||||||||
| Total | 4051 | 4435 |
Page 11
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
- CURRENT ASSET INVESTMENTS
Current asset investments comprise cash on deposit with maturity periods of less than one year - £195 is available immediately (2020 £84595) and a further £254147 is available within 3 months (2020 £169146).
9,
| CREDITORS: AMOUNTSFALLINGDUEWITHINONEYEAR | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 5254 | 8525 |
| Taxation and Social Security | 1751 | 2056 |
| Other creditors | 70969 | 11629 |
| Concessionary loan | - | 1000 |
| Total | 77974 | 23210 |
An interest-free unsecured loan of £5,000 was received in 2016 to help finance the installation of a new boiler. It was repayable over five years in equal annual instalments and was fully repaid during the year.
- ANALYSIS OF NET ASSETS BY FUND
|||Unrestricted||Restricted||Endowment|| |---|---|---|---|---|---|---| |||Funds||Funds|Fund|Total| ||General|Designated|Revaluation|||| ||£|£|£|£|£|£| |Tangible fixed assets|317973|-|154108|-|-|472081| |Fixed asset investments|-|-|-|-|14707|14707| |Current assets|81957|300299|-|51459|-|433715| |Current liabilities|(15260)|(62574)|-|(140)|-|(77974)| ||384670|237725|154108|51319|14707|842529|
Page 12
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
| FORTHEYEAR | YEARENDED 31 DECEMBER | YEARENDED 31 DECEMBER | YEARENDED 31 DECEMBER | 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| (continued) | |||||||||
| 11. | FUND DETAILS | Balance 1 January |
Movement inResources: Income Expenditure Transfers |
Gains/ (Losses) |
Balance 31 December |
||||
| 2021 | 2021 | ||||||||
| £ | £ | £ | £ | £ | £ | ||||
| Unrestricted Funds | |||||||||
| General Fund | 392330 | 314858 | (317924) | (4594) | - | 384670 | |||
| Designated Funds: | |||||||||
| Major Maintenance | 915 | - | - | 15000 | - | 15915 | |||
| Go!Team/PCC Tithe | 17289 | - | (30123) | 29703 | - | 16869 | |||
| BuildingDevelopment | 190351 | 2095 | (69953) | (10109) | - | 112384 | |||
| Associate Vicar | 71250 | - | - | (71250) | - | Z | |||
| Legacies | - | 46050 | - | - | - | 46050 | |||
| Mission& Evangelism | - | - | - | 46507 | - | 46507 | |||
| Total | 279805 | 48145 | (100076) | 9851 | - | 237725 | |||
| Revaluation Reserve | 104108 | - | - | - | 50000 | 154108 | |||
| Restricted Funds | |||||||||
| Vicar’s Discretionary | 1953 | 1057 | - | - | - | 3010 | |||
| Associate Vicar | 5257 | - | - | (5257) | - | - | |||
| Mission& Evangelism | ' | 35867 | (5985) | 4218 | : | 34100 | |||
| Missions | - | - | 819 | (819) | - | = | |||
| Organ Repairs | 2037 | - | - | - | - | 2037 | |||
| Youth Activities | 239 | - | - | - | - | 239 | |||
| Equipment | 11252 | - | - | - | - | 11252 | |||
| BuildingDevelopment | - | 681 | - | - | - | 681 | |||
| Thome BequestIncome | 93 | 373 | (466) | - | - | 7 | - | ||
| StMary’s Local MissionWork | - | - | - | - | - | - | |||
| Making Mission Possible | - | 25964 | (22565) | (3399) | - | - | |||
| Total | 20831 | 63942 | (28197) | (5257) | - | 51319 | |||
| Endowment Funds | |||||||||
| ThorneBequestCapital | 12866 | - | - | - | 1841 | 14707 |
Funds are held for the following purposes: Major Maintenance Fund To help meet the costs of any future major building repair Go! Team/PCC Tithe Fund To set aside funds to donate to mission partners Building Development To set aside funds as seed capital for a major church building project Associate Vicar Fund To help fund the Associate Vicar post Legacies To set aside legacies received for project funding as determined by the PCC Mission & Evangelism To record funding for mission and evangelism work. Balances previously held in the Associate Vicar Fund and the Missions Fund were transferred into the Mission & Evangelism Fund in the year Vicar’s Discretionary Fund To relieve cases of hardship in the parish, at the discretion of the Vicar Missions To record donations given for specific mission work Organ Repairs To record donations given for the repair of the organ Youth Activities To record payments by attendees at children’s and youth events, and donations towards the work of the children’s and youth ministries Equipment Fund To record donations received towards the purchase of equipment for church use Thorne Bequest Income and The Thorne Bequest is a permanent endowment which requires income Capital to be spent on the maintenance of the church building St Mary’s Local Mission Work To record donations towards the mission work of St Mary of Bethany Making Mission Possible To record donations received for specific mission work as a result of the Making Mission Possible weekend in 2021
Page 13
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
-
Material transfers between funds were made in the year: (a) from the General Fund to the Go! Team/PCC Tithe Fund totalling £29703 (2020 £32755) being a tithe of the church’s unrestricted donated income
-
(b) from the Associate Vicar Fund to the Mission &Evangelism Fund totalling £71250 (2020 £0)
-
(c) from the Building Dev Fund to the General Fund £10109 (2020 £0)
-
(d) from the General Fund to the Major Maintenance Fund £15000 (2020 £0)
-
(e) from the Mission & Evangelism Fund to the General Fund £30000 (2020 £0)
-
GRANTS The following list includes all institutions or individuals that received grants or gifts, with those over £1000 described:
| described: | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| To Institutions: | |||
| HCR— for J& EHargreaves | 8158 | 8444 | |
| Media Matters Ministries — for B |
& GMcLeod | 7739 | 7690 |
| CMS - for F and S Yanez | 7568 | 8338 | |
| OM- for A& C Mall |
7527 | 9682 | |
| Redeemer Grace Church, Geneva | 6783 | 5495 | |
| OMF — forM&L Jeggo | 6609 | 6402 | |
| Engage | 5695 | 5944 | |
| St Michael’s Church, Sheerwater | 3970 | 6000 | |
| TEARFund - Mozambique |
- | 375 | |
| - ‘Christmas Appeal | 77 | 841 | |
| WokingHospice | ‘ | - | 1000 |
| Woking Street Angels | - | 1000 | |
| Westmark Trust — for S Jaisunder | - | 375 | |
| Others—2 institutions (2020— 3) | 21 | 1014 | |
| To Individuals: | |||
| Others — 0 individuals (2020 — 1) | - | 10 | |
| Total | 54153 | 62610 | |
| Groceries donated to WokingFoodbank | 2606 | 2953 | |
| TOTAL | 56759 | 65563 | |
| Grants and gifts can be analysed between: | |||
| Supporting the reliefofsuffering in the local community | 2606 | 4239 | |
| Supporting the reliefofsufferingworldwide | WW | 841 | |
| Supporting Christian mission locally | 9665 | 13682 | |
| Supporting Christian mission worldwide | 44411 | 46801 | |
| TOTAL | 56759 | 65563 |
No support costs were allocated to grant-making activities.
Page 14
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
13. TRANSACTIONS WITH MEMBERS OF THE PCC AND OTHER RELATED PARTIES
The Vicar, Associate Vicar and Curate are members of the PCC. The Diocesan Board of Finance paid the stipend for the Vicar and Curate and provided housing for the Vicar. The PCC paid the stipend and associated employment costs to the Diocese Board of Finance in connection with the employment of the Associate Vicar of £40127 (2020 £30880). The PCC provided a house which is owned by the Church for the Associate Vicar and paid rental for the Curate’s house of £19,800 (2020 £19800). The PCC also paid £1415 for costs related to the Vicar’s housing (2020 £2297) and £2898 in connection with the Associate Vicar’s housing (2020 £5230). In addition, the PCC paid the expenses of the Vicar, Associate Vicar and Curate properly incurred in connection with their duties which totalled £1902 (2020 £1862) as well as training and retreats which in aggregate cost £1172 (2020 £404). None of the Vicar, Associate Vicar or Curate participated in approving their own payments.
Grants totalling £7527 (2020 £9682) were made to OM to further A Mall’s work supporting Christian mission overseas. A Mall is related to PCC Member C Mall. In line with the PCC’s conflict of interest provisions, C Mall did not take part in decision-making for these grants.
No other PCC member received any remuneration or employment benefit (2020 None). There were no expenses incurred by PCC members in fulfilling their duties (2020 None).
The total aggregate amount of donations received from PCC members and other related parties totalled £49119 (2020 £54122) in the year.
ST MARY OF BETHANY CHURCH, WOKING
FINANCIAL STATEMENTS
31 DECEMBER 2021 CHARITY REGISTRATION NUMBER: 1128813
Mount Hermon Road Woking Surrey GU22 7UH
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Page 1
ST MARY OF BETHANY CHURCH, WOKING
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS/TRUSTEES OF ST MARY OF BETHANY CHURCH, WOKING PAROCHIAL CHURCH COUNCIL
I report on the accounts for the year ended 31 December 2021 which are set out on pages 2 to 14.
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 in 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 with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the management committee 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:
-
(1) which give me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the 2011 Act; or - to prepare accounts which accord with these accounting records have not been met; or
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the q.ANAK
Richard Edwards FCA FCCA CTA
Edwards Greene
Chartered Accountants
9 Innovation Place Douglas Drive Godalming Surrey GU7 1JX
Date: L Mow 2OLL
Page 2
ST MARY OF BETHANY CHURCH, WOKING
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Funds |
Restricted/ Endowment |
TOTAL FUNDS |
TOTAL FUNDS |
||||||
|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Revaluation | Funds | 2021 | 2020 | ||||
| Note | £ | £ | £ | £ | £ | £ | |||
| INCOME FROM: | |||||||||
| Donations and Legacies | 2a, 3 | 297030 | 47840 | - | 63432 | 408302 | 374182 | ||
| Church Activities | 2b | 5247 | - | - | 137 | 5384 | 4542 | ||
| Fundraising Activities | 2¢ | 584 | - | - | - | 584 | 3174 | ||
| Investments | 2d | 2473 | - | - | 373 | 2846 | 3593 | ||
| Other Sources | 2e | 9524 | 305 | - | - | 9829 | 10232 | ||
| TOTAL INCOME | 314858 | 48145 | - | 63942 | 426945 | 395723 | |||
| EXPENDITURE ON: | |||||||||
| Grants | Aa, | - | 30123 | - | 26636 | 56759 | 65563 | ||
| 12 | |||||||||
| Church Activities | 4b | 317924 | 69953 | - | 1561 | 389438 | 322131 | ||
| Fundraising Activities | 4c | - | - | - | - | - | 343 | ||
| TOTAL EXPENDITURE | 317924 | 100076 | - | 28197 | 446197 | 388037 | |||
| Gain/(Loss) on Investments | 6b | - | - | - | 184] | 1841 | 827 | ||
| NETINCOME/(EXPENDITURE) | (3066) | (51931) | - | 37586 =(17411) | 8513 | ||||
| TRANSFERS | 11 | (4594) | 9851 | - | (5257) | - | - | ||
| BETWEEN FUNDS | |||||||||
| OTHERRECOGNISED GAINS: | |||||||||
| Gain/(loss) on Revaluation |
of | 6a | - | - | 50000 | - | 50000 | = | |
| Fixed Assets | |||||||||
| NETMOVEMENT INFUNDS | (7660) | (42080) | 50000 | 32329 | 32589 | 8513 | |||
| RECONCILIATION OF FUNDS: | |||||||||
| Total Funds brought forward | |||||||||
| at | January 2021 | 11 | 392330 | 279805 | 104108 | 33697 | 809940 | ||
| Total Funds carried forward | ~ | 384670 | 237725 | 154108 | 66026 | 842529 | 809940 | ||
| at31December2021 | 10,11 |
Page 3
ST MARY OF BETHANY CHURCH, WOKING
BALANCE SHEET
----- Start of picture text -----
AS AT 31 DECEMBER 2021
2021 2020
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 6a 472081 419859
Investments 6b 14707 12866
486788 432725
CURRENT ASSETS
Debtors 7 4051 4435
Investments 8 254342 253741
Cash at bank and in hand 175322 142249
433715 400425
CURRENT LIABILITIES
Creditors - amounts falling due
within one year 9 (77974) (23210)
NET CURRENT ASSETS 355741 377215
TOTAL NET ASSETS 842529 809940
PARISH FUNDS
Unrestricted:
General 11 384670 392330
Designated 11 237725 279805
Revaluation Reserve 11 154108 104108
776503 776243
Restricted 11 51319 20831
Endowment 11 14707 12866
TOTAL FUNDS 842529 809940
Approved by the Parochial Church Council on _4)} mu Mercia 2022 and signed on its behalf by:
----- End of picture text -----
The notes on pages 4 to 14 form part of these accounts.
Page 4
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
- ACCOUNTING POLICIES
ST MARY OF BETHANY CHURCH, WOKING
The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), relevant accounting standards and charity law.
The financial statements have been prepared under the historical cost convention except for the valuation of 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.
The church is a public benefit entity. There are no material uncertainties about its ability to continue and the financial statements have been prepared on a going concern basis.
Funds
Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available to be used for the general purposes of the PCC.
Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes.
Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year is carried forward as a balance on that fund.
Endowment funds represent assets received that may not be exhausted; only the income may be spent. Net investment gains and losses are recognised within the endowment fund.
Incoming Resources
(i) Donations and Legacies
Collections are recognised when received by or on behalf of the PCC.
Planned giving is recognised when received.
Income tax recoverable on Gift Aid donations is recognised when the income is recognised.
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due can be measured reliably and its ultimate receipt by the PCC is probable.
Gifts in kind donated for distribution are included at valuation and recognised as part of donated income when distributed, with the equivalent amount recognised as charitable expenditure.
In accordance with the SORP, no value has been attributed to the work performed by volunteers, although their work is considered vital to the mission of the church.
(ii) Fundraising Activities Rental income from the letting of church properties is recognised when the rental is due.
Page 5
ST MARY OF BETHANY CHURCH, WOKING
- ACCOUNTING POLICIES (continued)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
-
(111) Investment Income Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue.
-
(iv) Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments.
Resources expended
-
(i) Expenditure is accounted for on an accruals basis, and is recorded gross.
-
(ii) The share of Parochial Fees, primarily charged for weddings and funerals, payable to the Diocese is accrued and accounted for when the corresponding income is recognised.
-
(iil) Grants and donations, including the proportion of donated income set aside by the PCC to be paid out to individuals and institutions for missionary purposes, are accounted for when paid over, or when there is a legal or constructive obligation to make a payment, the payment is probable, the amount can be measured reliably and there are no conditions attaching to the payment that limit its recognition.
Tangible Fixed Assets
Tangible fixed assets are recorded at cost, except as noted below.
-
(i) Consecrated Property Consecrated and beneficed property of any kind is excluded from the accounts by Section 10 of the Charities Act 2011. All expenditure on consecrated or beneficed buildings is written off as incurred.
-
(ii) Movable Church Furnishings Movable church furnishings held by the Vicar 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 inalienable property acquired prior to 2001 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2001 over £1,000 are capitalised; items under £1,000 have been expensed as incurred. All expenditure on the repair of movable church furnishings is written off as incurred.
-
(iii) Church Equipment, Office Equipment and Audio Visual Equipment Church equipment, office equipment and audio visual equipment (including computer equipment and software) over £1,000 is capitalised. Items under £1,000 are written off as incurred.
-
(iv) Freehold Land and Buildings Freehold land and buildings are revalued every 5 years to the current market value and an impairment review is carried out at each year-end in the intervening years and any resultant loss identified included in the expenditure for the year.
Page 6
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
Depreciation is provided at rates calculated to write off the costs as indicated below: Freehold properties Nil Movable Church Furnishings Reducing balance basis of 25% pa Audio Visual Equipment Straight-line basis over 15 years Other Church Equipment Reducing balance basis of 25% pa Office Equipment Reducing balance basis of 25% pa
Fixed Asset Investments
Fixed asset investments are recorded at market value.
Current Assets
-
(i) Debtors are measured at the consideration expected to be received in their settlement or the amount paid in advance by the church for the goods or services it will receive.
-
(il) Current asset investments comprise cash deposits with a maturity of less than one year that are not held to meet short-term cash commitments.as they fall due. They are recorded at their market value.
(iii) Cash at Bank and in Hand are deposits held to meet short-term cash commitments as they fall due.
Current Liabilities
Creditors are recognised when the liability arises and are measured at the cash amount or other consideration expected to be paid in their settlement or the amount received by the church as advance payment for goods or services provided.
Concessionary Loans
Concessionary loans are initially recognised in the accounts at the amount received with the carrying amount adjusted in subsequent years to reflect repayments and any accrued interest.
Pension Costs
The PCC operates a defined contribution pension scheme for staff. The amounts charged to the Statement of Financial Activities (SOFA) in respect of pension costs are the contributions and scheme fees payable in the period. Differences between the amounts payable in the year and amounts actually paid are shown as either accruals or prepayments in the balance sheet.
Taxation
St Mary of Bethany Church is a registered charity and is thus exempt from tax on income and gains to the extent that these are applied to its charitable objects.
Irrecoverable VAT is not separately analysed and is charged to the Statement of Financial Activities when the expenditure to which it relates is incurred and is allocated as part of that expenditure.
Page 7
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2.|INCOME|
|Unrestricted|All|Restricted|
|Funds|and|Endowment|TOTAL FUNDS|
|General|Designated|Funds|2021|2020|
|£|£|£|£|£|
|(a)|Donations|and Legacies|
|Planned|Giving:|
|Gift|Aided|donations|198217|-|300|198517|=|194432|
|Other|14073|-|-|14073|12933|
|Other|Church|Giving:|
|Gift|Aided|donations|22451|-|21175|43626|68036|
|Other|6760|-|3531|10291|14984|
|Tax Recoverable|55289|-|5119|60408|70341|
|Legacies|-|46050|30701|76751|10503|
|Grants|240|1790|-|2030|-|
|Donated|goods|for|distribution|-|-|2606|2606|2953|
|Total|297030|47840|63432|408302|374182|
|(b)|Church|Activities|
|Fees|4168|-|137|4305|3874|
|Youth|and|Children’s|Activities|1079|-|-|1079|543|
|Other|Activities|-|-|-|-|125|
|Total|5247|-|137|5384|4542|
|(c)|Fundraising|activities|
|Rental|income|-|-|-|-|2610|
|Other|fundraising|income|584|-|-|584|564|
|Total|584|-|-|584|3174|
|(d)|Investments|
|Gross|bank|interest|2473|-|-|2473|3232|
|Dividends|-|-|373|373|361|
|Total|2473|-|373|2846|3593|
|(e)|Other|Sources|
|Coronavirus|Job|Ret|Scheme|9522|-|-|9522|10083|
|Other|income|2|305|-|307|149|
|Total|9524|305|-|9829|10232|
|TOTAL INCOME|314858|48145|63942|426945|395723|
----- End of picture text -----
- DONATED GOODS AND SERVICES Donated goods recognised in these accounts comprise groceries given by church members for distribution to the local foodbank.
The church benefits from the contribution of many unpaid general volunteers in all areas of church life - for example in worship (leading services), discipleship (hosting home groups), mission (serving on the Go! Team), prayer (members of the prayer ministry team), children’s work (leading groups), fabric maintenance (building repairs), administration (maintaining rotas) and many more. It is impractical to place a value on this contribution and therefore it is not included in these accounts.
Page 8
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
| 4. | EXPENDITURE | |||||
|---|---|---|---|---|---|---|
| Unrestricted | All Restricted | |||||
| Funds | and Endowment | TOTALFUNDS | FUNDS | |||
| General | Designated | Funds | 2021 | 2020 | ||
| £ | £ | £ | £ | £ | ||
| (a) | Grants | |||||
| Missionary and charitable giving: | ||||||
| PCC Giving | - | 30123 | - | 30123 | 34037 | |
| Making Mission Possible | - | - | 22565 | 22565 | 26313 | |
| Donated Goods | - | - | 2606 | 2606 | 2953 | |
| Other Giving | - | - | 1465 | 1465 | 2260 | |
| Total Grants | - | 30123 | 26636 | 56759 | 65563 | |
| (b) | Church activities | |||||
| Staffing | 174676 | - | - | 174676 | 170296 | |
| Diocese | ||||||
| Diocesan Parish Share | 97027 | - | - | 97027 | 97027 | |
| Diocesan fees | 1001 | - | - | 1001 | 2447 | |
| Total Diocese | 98028 | - | - | 98028 | 99474 | |
| Building | ||||||
| Depreciation ofEquipment | 7887 | - | - | 7887 | 7407 | |
| Maintenance and Repairs | 3690 | 59604 | 466 | 63760 | 3706 | |
| Heat, light& water | 5644 | - | - | 5644 | 3101 | |
| Insurance | 2709 | - | - | 2709 | 2675 | |
| Cleaning | 3189 | - | - | 3189 | - | |
| Professional fees | - | 10309 | - | 10309 | 12534 | |
| Quinquennial Inspection | 1200 | - | - | 1200 | - | |
| Total Building | 24319 | 69913 | 466 | 94698 | 29423 | |
| Ministries | ||||||
| Children’s Ministry | 2479 | - | - | 2479 | 1742 | |
| Vicar’s Ministry | 1612 | - | - | 1612 | 1197 | |
| Hospitality | 389 | - | - | 389 | 1001 | |
| Outreach | 1285 | - | - | 1285 | 854 | |
| Worship Ministry | 998 | - | - | 998 | 826 | |
| Curates Ministry | 1116 | - | - | 1116 | 798 | |
| Vicar’s Discretionary Fund | - | - | - | - | 725 | |
| Youth Ministry | 226 | - | - | 226 | 453 | |
| Young Families Ministry | 189 | - | - | 189 | 427 | |
| Books | 69 | - | - | 69 | 211 | |
| Youth& Children’s Events | - | - | - | - | 42 | |
| TotalMinistries | 8363. | - | - | 8363 | 8276 |
Page 9
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
| FORTHEYEARENDED 31 DECEMBER 2021 | FORTHEYEARENDED 31 DECEMBER 2021 | FORTHEYEARENDED 31 DECEMBER 2021 | FORTHEYEARENDED 31 DECEMBER 2021 | ; | |||
|---|---|---|---|---|---|---|---|
| (continued) | |||||||
| 4. | RESOURCESEXPENDED (continued) | ||||||
| Unrestricted | All Restricted | ||||||
| Funds | and Endowment | TOTALFUNDS | FUNDS | ||||
| General | Designated | Funds | 2021 | 2020 | |||
| £ | £ | £ | £ | £ | |||
| (b) | Church activities (continued) | ||||||
| Support and Other Costs | |||||||
| IT Software/Consumables | 2741 | - | - | 2741 | 5260 | ||
| Accountancy/Bookkeeping | 2640 | - | - | 2640 | 2196 | ||
| Telephone& Internet | 1563 | - | - | 1563 | 1793 | ||
| Communications | 970 | - | - | 970 | 1479 | ||
| Printing/Stationery/Postage | 1044 | - | - | 1044 | 766 | ||
| Bank Charges | 294 | - | - | 294 | 461 | ||
| Subscriptions | 515 | - | - | 515 | 405 | ||
| Equipment | - | - | - | - | 250 | ||
| Flowers | 280 | - | - | 280 | 229 | ||
| Independent Examination | 600 | - | - | 600 | - | ||
| Sundry Expenses | 1891 | 40 | 1095 | 3026 | 1823 | ||
| Total Support and Other | Costs | 12538 | 40 | 1095 | 13673 | 14662 | |
| Total Church Activities | 317924 | 69953 | 1561 | 389438 | 322131 | ||
| (c) | Fundraising activities | ||||||
| Rented House Costs | - | - | - | - | 343 | ||
| Total Fundraising Activities | - | - | - | - | 343 | ||
| TOTALEXPENDITURE | 317924 | 100076 | 28197 | 446197 | 388037 | ||
| 5. | STAFF COSTS | 2021 | 2020 | ||||
| £ | £ | ||||||
| Wages and salaries | 101587 | =103155 | |||||
| Social security costs | 3009 | 3049 | |||||
| Pension costs | 4115 | 4087 | |||||
| Total | 108711 | 110291 |
- RESOURCES EXPENDED (continued)
The church operates a defined contribution Pension Scheme for its employees. All payments due in the year have been charged to unrestricted funds in the Statement of Financial Activities.
No employees received emoluments of more than £60,000 for the year (2020 None). Remuneration paid and benefits provided to the church’s key management personnel - the Vicar and other PCC members — are disclosed in Note 13 below.
The average number of staff employed during the year was 6.4 (2020 7.0), comprising 2 full time (2020 2) and 4.4 part time staff (2020 5.0), which equates to 3.7 full time equivalent posts (2020 3.8).
Page 10
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
6. FIXED ASSETS FOR USE BY THE PCC
| Freehold | Freehold | Freehold | Office | Audio | Church | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| land | equipment | Visual | equipment | Total | |||||||||
| and | Equipment | ||||||||||||
| buildings | |||||||||||||
| £ | £ | £ | £ | £ | |||||||||
| (a) | Tangible fixed assets | ||||||||||||
| Cost | At | January 2021 Additions |
350000 - |
27467 - |
86738 - |
23173 10109 |
|||||||
| Revaluation | 50000 | - | - | - | 50000 | ||||||||
| At | 31 December2021 | 400000 | 27467 | 86738 | 33282 | 547487 | |||||||
| Depreciation | At | 1 January 2021 | - | 23581 | 23612 | 20326 | 67519 | ||||||
| Charge | for theyear | - | 972 | 5781 | 1134 | 7887 | |||||||
| At | 31 December2021 | - | 24553 | 29393 | 21460 | 75406 | |||||||
| NetBook Value | 31 | December2021 | 400000 | 2914 | 57345 | 11822 | 472081 | ||||||
| 31 | December 2020 | 350000 | 3886 | 63126 | 2847 | 419859 | |||||||
| The freehold land and buildings | comprise 46Hawthorn | Road on the Barnsbury Estate, which was valued on | |||||||||||
| an open market basis | in | January | 2022byL Morales | ofFoundations. Its | historical cost is £245892, | ||||||||
| (b) | Investments | ||||||||||||
| Balance 1 | Additions | Withdrawals | Gain | Balance 31 | |||||||||
| January | December | ||||||||||||
| 2021 | 2021 | ||||||||||||
| £ | £ | £ | £ | £ | |||||||||
| Quoted Investments: | |||||||||||||
| CBF CofE | |||||||||||||
| Investment Fund | 12866 | - | - | 1841 | 14707 | ||||||||
| Total | 12866 | - | - | 1841 | 14707 | ||||||||
| ae | DEBTORS | 2021 | 2020 | ||||||||||
| £ | £ | ||||||||||||
| Rented house deposit | 1904 | 1904 | |||||||||||
| Accounts receivable | - | 217 | |||||||||||
| Income tax recoverable | 2096 | 1987 | |||||||||||
| Prepayments and accrued | income | 51 | 327 | ||||||||||
| Total | 4051 | 4435 |
Page 11
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
- CURRENT ASSET INVESTMENTS
Current asset investments comprise cash on deposit with maturity periods of less than one year - £195 is available immediately (2020 £84595) and a further £254147 is available within 3 months (2020 £169146).
9,
| CREDITORS: AMOUNTSFALLINGDUEWITHINONEYEAR | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 5254 | 8525 |
| Taxation and Social Security | 1751 | 2056 |
| Other creditors | 70969 | 11629 |
| Concessionary loan | - | 1000 |
| Total | 77974 | 23210 |
An interest-free unsecured loan of £5,000 was received in 2016 to help finance the installation of a new boiler. It was repayable over five years in equal annual instalments and was fully repaid during the year.
- ANALYSIS OF NET ASSETS BY FUND
|||Unrestricted||Restricted||Endowment|| |---|---|---|---|---|---|---| |||Funds||Funds|Fund|Total| ||General|Designated|Revaluation|||| ||£|£|£|£|£|£| |Tangible fixed assets|317973|-|154108|-|-|472081| |Fixed asset investments|-|-|-|-|14707|14707| |Current assets|81957|300299|-|51459|-|433715| |Current liabilities|(15260)|(62574)|-|(140)|-|(77974)| ||384670|237725|154108|51319|14707|842529|
Page 12
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
| FORTHEYEAR | YEARENDED 31 DECEMBER | YEARENDED 31 DECEMBER | YEARENDED 31 DECEMBER | 2021 | |||||
|---|---|---|---|---|---|---|---|---|---|
| (continued) | |||||||||
| 11. | FUND DETAILS | Balance 1 January |
Movement inResources: Income Expenditure Transfers |
Gains/ (Losses) |
Balance 31 December |
||||
| 2021 | 2021 | ||||||||
| £ | £ | £ | £ | £ | £ | ||||
| Unrestricted Funds | |||||||||
| General Fund | 392330 | 314858 | (317924) | (4594) | - | 384670 | |||
| Designated Funds: | |||||||||
| Major Maintenance | 915 | - | - | 15000 | - | 15915 | |||
| Go!Team/PCC Tithe | 17289 | - | (30123) | 29703 | - | 16869 | |||
| BuildingDevelopment | 190351 | 2095 | (69953) | (10109) | - | 112384 | |||
| Associate Vicar | 71250 | - | - | (71250) | - | Z | |||
| Legacies | - | 46050 | - | - | - | 46050 | |||
| Mission& Evangelism | - | - | - | 46507 | - | 46507 | |||
| Total | 279805 | 48145 | (100076) | 9851 | - | 237725 | |||
| Revaluation Reserve | 104108 | - | - | - | 50000 | 154108 | |||
| Restricted Funds | |||||||||
| Vicar’s Discretionary | 1953 | 1057 | - | - | - | 3010 | |||
| Associate Vicar | 5257 | - | - | (5257) | - | - | |||
| Mission& Evangelism | ' | 35867 | (5985) | 4218 | : | 34100 | |||
| Missions | - | - | 819 | (819) | - | = | |||
| Organ Repairs | 2037 | - | - | - | - | 2037 | |||
| Youth Activities | 239 | - | - | - | - | 239 | |||
| Equipment | 11252 | - | - | - | - | 11252 | |||
| BuildingDevelopment | - | 681 | - | - | - | 681 | |||
| Thome BequestIncome | 93 | 373 | (466) | - | - | 7 | - | ||
| StMary’s Local MissionWork | - | - | - | - | - | - | |||
| Making Mission Possible | - | 25964 | (22565) | (3399) | - | - | |||
| Total | 20831 | 63942 | (28197) | (5257) | - | 51319 | |||
| Endowment Funds | |||||||||
| ThorneBequestCapital | 12866 | - | - | - | 1841 | 14707 |
Funds are held for the following purposes: Major Maintenance Fund To help meet the costs of any future major building repair Go! Team/PCC Tithe Fund To set aside funds to donate to mission partners Building Development To set aside funds as seed capital for a major church building project Associate Vicar Fund To help fund the Associate Vicar post Legacies To set aside legacies received for project funding as determined by the PCC Mission & Evangelism To record funding for mission and evangelism work. Balances previously held in the Associate Vicar Fund and the Missions Fund were transferred into the Mission & Evangelism Fund in the year Vicar’s Discretionary Fund To relieve cases of hardship in the parish, at the discretion of the Vicar Missions To record donations given for specific mission work Organ Repairs To record donations given for the repair of the organ Youth Activities To record payments by attendees at children’s and youth events, and donations towards the work of the children’s and youth ministries Equipment Fund To record donations received towards the purchase of equipment for church use Thorne Bequest Income and The Thorne Bequest is a permanent endowment which requires income Capital to be spent on the maintenance of the church building St Mary’s Local Mission Work To record donations towards the mission work of St Mary of Bethany Making Mission Possible To record donations received for specific mission work as a result of the Making Mission Possible weekend in 2021
Page 13
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
-
Material transfers between funds were made in the year: (a) from the General Fund to the Go! Team/PCC Tithe Fund totalling £29703 (2020 £32755) being a tithe of the church’s unrestricted donated income
-
(b) from the Associate Vicar Fund to the Mission &Evangelism Fund totalling £71250 (2020 £0)
-
(c) from the Building Dev Fund to the General Fund £10109 (2020 £0)
-
(d) from the General Fund to the Major Maintenance Fund £15000 (2020 £0)
-
(e) from the Mission & Evangelism Fund to the General Fund £30000 (2020 £0)
-
GRANTS The following list includes all institutions or individuals that received grants or gifts, with those over £1000 described:
| described: | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| To Institutions: | |||
| HCR— for J& EHargreaves | 8158 | 8444 | |
| Media Matters Ministries — for B |
& GMcLeod | 7739 | 7690 |
| CMS - for F and S Yanez | 7568 | 8338 | |
| OM- for A& C Mall |
7527 | 9682 | |
| Redeemer Grace Church, Geneva | 6783 | 5495 | |
| OMF — forM&L Jeggo | 6609 | 6402 | |
| Engage | 5695 | 5944 | |
| St Michael’s Church, Sheerwater | 3970 | 6000 | |
| TEARFund - Mozambique |
- | 375 | |
| - ‘Christmas Appeal | 77 | 841 | |
| WokingHospice | ‘ | - | 1000 |
| Woking Street Angels | - | 1000 | |
| Westmark Trust — for S Jaisunder | - | 375 | |
| Others—2 institutions (2020— 3) | 21 | 1014 | |
| To Individuals: | |||
| Others — 0 individuals (2020 — 1) | - | 10 | |
| Total | 54153 | 62610 | |
| Groceries donated to WokingFoodbank | 2606 | 2953 | |
| TOTAL | 56759 | 65563 | |
| Grants and gifts can be analysed between: | |||
| Supporting the reliefofsuffering in the local community | 2606 | 4239 | |
| Supporting the reliefofsufferingworldwide | WW | 841 | |
| Supporting Christian mission locally | 9665 | 13682 | |
| Supporting Christian mission worldwide | 44411 | 46801 | |
| TOTAL | 56759 | 65563 |
No support costs were allocated to grant-making activities.
Page 14
ST MARY OF BETHANY CHURCH, WOKING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
(continued)
13. TRANSACTIONS WITH MEMBERS OF THE PCC AND OTHER RELATED PARTIES
The Vicar, Associate Vicar and Curate are members of the PCC. The Diocesan Board of Finance paid the stipend for the Vicar and Curate and provided housing for the Vicar. The PCC paid the stipend and associated employment costs to the Diocese Board of Finance in connection with the employment of the Associate Vicar of £40127 (2020 £30880). The PCC provided a house which is owned by the Church for the Associate Vicar and paid rental for the Curate’s house of £19,800 (2020 £19800). The PCC also paid £1415 for costs related to the Vicar’s housing (2020 £2297) and £2898 in connection with the Associate Vicar’s housing (2020 £5230). In addition, the PCC paid the expenses of the Vicar, Associate Vicar and Curate properly incurred in connection with their duties which totalled £1902 (2020 £1862) as well as training and retreats which in aggregate cost £1172 (2020 £404). None of the Vicar, Associate Vicar or Curate participated in approving their own payments.
Grants totalling £7527 (2020 £9682) were made to OM to further A Mall’s work supporting Christian mission overseas. A Mall is related to PCC Member C Mall. In line with the PCC’s conflict of interest provisions, C Mall did not take part in decision-making for these grants.
No other PCC member received any remuneration or employment benefit (2020 None). There were no expenses incurred by PCC members in fulfilling their duties (2020 None).
The total aggregate amount of donations received from PCC members and other related parties totalled £49119 (2020 £54122) in the year.