OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Registered Charity No: 1129388

Parochial Church Council of St Michael & All Angels, Summertown, Oxford Report and financial statements For the year ended 31 December 2021

ANNUAL REPORT AND STATEMENT OF FINANCIAL ACTIVITIES AND BALANCE SHEET YEAR ENDING 31 DECEMBER 2021

CHARITY NAME THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL & ALL ANGELS, SUMMERTOWN, OXFORD CHARITY NUMBER 1129388

TRUSTEES The Revd Gavin Knight The Revd Clare Leal The Revd Simon Cross (from July 2021 to January 2022) Doreen Barrett Sam Bickersteth Nigel Hamilton Keith Lewis (to July 2021) Lesley Noakes Irim Sarwar DRAFT Sarah Scheele (to June 2021) David Smith Ann Stedman Emma Wilkinson BANKERS CAF BANK LTD BARCLAYS BANK PLC CCLA INVESTMENT MANAGEMENT LTD MANAGING THE CBF CHURCH OF ENGLAND FUNDS INDEPENDENT Mrs H C Fanthome EXAMINERS KING LOOSE & CO REGISTERED ST MICHAEL & ALL ANGELS CHURCH ADDRESS LONSDALE ROAD OXFORD OX2 7ES

Page 1

St Michael & All Angels, Summertown, Oxford Registered Charity no. 1129388 Report of the Parochial Church Council for the year to 31 December 2021

Administrative information

St Michael and All Angels Church is situated in Summertown, Oxford. It is part of the Diocese of Oxford within the Church of England. The correspondence address is St Michael & All Angels Church, Lonsdale Road, Oxford OX2 7ES. The website is www.stmichaels-summertown.org.uk.

The Parochial Church Council (PCC) was registered as a charity with the Charity Commission on 5 May 2009 with the number 1129388. The full charity name is THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL & ALL ANGELS, SUMMERTOWN and the working name is ST MICHAEL'S SUMMERTOWN PCC. PCC members are also trustees of the charity. PCC members who served during the year to 31 December 2021 were:

Vicar The Revd Gavin Knight (Chairman)

Assistant Curate The Revd Clare Leal Assistant Curate The Revd Simon Cross (from July 2021 to January 2022) Wardens Irim Sarwar (also Deanery Synod Representative) DRAFT

Representative on Ann Stedman the Deanery Synod

Lay members Sam Bickersteth Keith Lewis Lesley Noakes Nigel Hamilton Sarah Scheele Doreen Barrett

Secretary Emma Wilkinson Fabric Supervisor David Smith Ex-officio members of PCC: Treasurer William Black Minutes Secretary Olive Lay Building & Fabric Team Steve Hunter

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 stand for election to the PCC.

Objectives and activities

St Michael’s PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It has the maintenance responsibility for the church and gardens of St Michael’s and responsibility for the maintenance and operation of St Michael’s Church Hall, which is situated in Portland Road, Summertown. When planning activities for the year, the incumbent and PCC have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

Page 2

St Michael & All Angels, Summertown, Oxford Registered Charity no. 1129388

Report of the Parochial Church Council for the year to 31 December 2021

Church attendance

The Church Electoral Roll was revised in May 2021; there were 110 people on the roll as presented to the APCM in May 2021 (113 in 2020).

Review of 2021

In 2021 the Vicar, the Revd Gavin Knight, was supported by the clergy team at St Michael and All Angels:

Curates

Part-time Associate Priests

DRAFT

Leah Mattinson worked on a freelance basis as Parish Manager, providing administrative support to Gavin, the Treasurer, and the Spaces Team, in addition to overseeing the administration of the Church and Church Hall.

The PCC met seven times during 2021 (17 January, 16 February, 21 March, 16 May, 18 July, 19 September, 21 November); the APCM was held on Sunday 16 May 2021. When it was not possible to meet in person, PCC meetings were held on Zoom. Much of PCC business in 2021 continued to be focused on COVID, safe worship, risk mitigation, the financial implication of the crisis, and on pastoral care for the parish during the lockdowns.

In 2021, St Michael’s offered ‘in person’ worship until mid-January, when the PCC suspended ‘in person’ services out of a moral responsibility to parishioners and churchgoers, as well as the NHS. The Sunday Parish Eucharist, Ash Wednesday, and Stations of the Cross were held online, with a return to public worship on Palm Sunday. Services were livestreamed over Holy Week and Easter, with technical support for streaming and recording services was provided by Dave Leal, to whom the parish is most grateful. In addition, from mid-January until the end of July, the church, supervised by volunteers, remained open for private prayer during the week. ‘Coffee after Church’ on Sundays remained on Zoom until September, when it became ‘Afternoon Tea on Zoom’ until the end of year. Other activities, such as the CATechesis group and monthly Compline services were held on Zoom.

St Michael’s Choristers returned to singing from May 2021 onwards, there was no formal adult church choir activity until September 2021, following government advice. In person events included a church picnic in the garden on the first Sunday of September, choral evensongs in July and November, and a 'Festival of Arts in the time of Climate Change' in October. St Michael’s celebrated Christmas with a candlelight carol service, a crib service, and Midnight Mass, as well as Christmas Day Eucharist services at 8 and 10am, with a booking system in place to control numbers.

Strict risk mitigation measures, developed and enhanced over 2020, were in place throughout 2021 and live worship continued from Palm Sunday to the end of the year without COVID-related incidents.

Last year also saw the Archdeacon’s inspection which resulted in a short checklist of items for attention, all of which were dealt with quickly.

Throughout the pandemic, the congregation continued its monthly collection of items for the Community Emergency Foodbank and Cutteslowe Community Larder, participated in the Oxford Historic Churches Trust Ride & Stride event, supported Oxford’s homeless charities, and one of St Michael’s young members undertook a sponsored abseil to raise money for Christian Aid. The ECO church team was actively involved with the Cool It! campaign and several members of St Michael’s volunteered with the Oxford Welcomes Refugees group, preparing to welcome a family to re-settle in Oxford.

Page 3

Review of 2021 (continued)

The Building & Fabric Team continued its work looking after the church and hall. In addition to routine maintenance tasks, work was undertaken to deal with the ingress of water and consequent staining in the parapet and brickwork of the Threshold, resulting in the building being made waterproof/weatherproof at the end of 2021 at no additional cost to the church.

The Gardens Team worked on enhancing the garden, including tree-planting, made possible with a grant from the Summertown St Margaret’s Neighbourhood Forum funded by the CIL (Community Infrastructure Levy).

The church’s magazine, Guardian Angel, continued to be regularly published and distributed to 3,000 homes - throughout the whole parish. The website http://www.stmichaels summertown.org.uk was regularly updated with news and links to recorded and streamed services. St Michael’s continues to have an active social media presence on Facebook, Twitter, and Instagram; one example of this is the weekly posting of the activities of Michaelmas Mouse across the platforms for the benefit of the younger members of the community.

The church is a member of Churches Together in North Oxford, a founding member of both the Summertown / Wolvercote / Wytham Church Partnership and the Cutteslowe Church Partnership.

Financial review

Unrestricted income in 2021 was £139,706 (2020: £139,976), expenditure £133,264 (2020: £146,813), leaving a surplus of £6,442 (2020: deficit of £6,837). There was also a gain in our investment assets of £16,899 (2020: £9,442), but this gain can only be crystallized if and when the investments are sold – the value of investments can fall as well as rise DRAFT depending on many economic factors beyond our control.

On the face of it, this “baseline” surplus looks promising compared to the two preceding years of deficits. However, it should be noted that we transferred some £6k from our savings account to our current account, and took the decision to reduce our parish share from just short of £6k per month to £4k per month for the second half of the year. If this had not been done, we would quickly have run out of cash to meet our bills. Indeed, we were grateful to receive a short term loan of £3k from a parishioner in June for 5 months, which enabled us to avoid selling from our long-term investment assets.

The year started out financially with virtually no income due to COVID lockdown from Hall and Church hiring. This began to increase slowly from August to almost normal again by the end of the year with most of our usual hirers returning. Plate collections likewise only started again in April as the lockdown was relaxed. Much appreciated stewardship donations continued to increase at a better rate than inflation.

Income from stewardship donations, plate collections and other minor receipts (including Gift Aid recovered) was £72k (2020: £62k). Income from Church and Hall lettings, Aldrich Road house rental and other fees was £63k (2020: £54k).

Parish Share £60k (2020: £71k) continues to be a significant item of expenditure. Looking ahead to 2022, the PCC spent some time discussing our Parish share, looking at the historic increase in this over the last decade, and informally comparing our ability to pay (based on the numbers of worshippers regularly attending and our hiring income) with other parishes. It was felt that that the ratio of this income to outgoing share was not favourable in our case. It was decided to offer £5k per month keeping the 2022 figure similar to the 2021 total, and to use this as a base for future increases in line with inflation. This has been accepted by the Diocese for 2022. The PCC has noted that there should be a Quinquennial inspection due in 2022, which might require expensive one-off costs, and that reserves should be maintained for that eventuality.

The balance sheet stands at £738,163 (2020: £713,955). The bulk of the balance sheet continues to be reflected in the Aldrich Road house (£559,277) and long-term investments (£150,834), leaving “working” capital of around £28k. This falls short of the PCC’s target of having some £150k to cover 12 month’s running costs – see Reserves Policy below.

Mission Giving

This year, the Christmas Services raised between them £560 which was split between The Porch (£220) and The Gatehouse (£340) . As in 2020, the normal methods of collecting donations during the Christian Aid week were sadly not feasible due to the COVID-19 pandemic. However, the congregation were guided to donate directly to Christian Aid.

Page 4

Reserves policy

Unrestricted funds may be spent on anything that is within the charitable objects of St Michael and All Angels Church. Our continued practice is to hold some of the reserves in a designated Outreach Fund. A long-standing restricted fund is held for development of the organ (£390). More recent restricted funds are held for the Fairplay coordination group (£107) for which we act as “bankers”, £303, (again held as bankers) for the Partnership Café, and lastly £546, which remains to be spent from a grant of £1,284 received from Oxford City Council’s Community Impact Fund for development of the church garden.

It is the PCC’s policy to hold unrestricted reserves sufficient to meet its commitments and planned activities for a 12 month period. This figure is estimated to be approximately £150,000 in a normal year. Post-pandemic, the net current assets at £28,052 are below this sum and the trustees intend to re-build this reserve gradually on an annual basis.

TRUSTEES’ RESPONSIBILITIES

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Report of the Parochial Church Council and financial statements were approved and authorised for issue by the PCC and signed on their behalf by:

……………………………………………………………… Trustee

20 March 2022

………………………………………………………………Date

Page 5

PAROCHIALCHURCH COUNCIL OF ST MICHAEL& ALLANGELS. SUMMERTOWN. OXFORD INDEPENDENT EXAMINER'S REPORT for the year ended 31 December 2021 I report on the accounts of the charity for the year ended 31st December 2021. which are set out on pages 7 to 15. Respertfve responslbllltles ol the tiustees and eKamSner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under Section 144121 of the Charities Act 2011 (the 2011 Act) and that an Independent ex3minatlon Is needed. It 15 rny responsibility to.'_ al Examine the accounts under Section 145 of the 2011 Act,. bl to follow the procedures laid down in the fjeneral Direttion5 given by the Charity Cornmis5ioner under Section 14515llbl of the 2011 Act., and cl to state whether particulBr rnatters have come to my attention. Basi5 of independent examiner'5 report My examination was carried out in accordance with the general direction5 given by the Charity Comrnis5ioners. 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 you a5 tru5tee5 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and conseouently no opinion 15 given as to whetherthe accounts present a'true and fair vlew. and the report is limited to those matters set out in the staternent below. Independent examiner's stztement In connection wlth my examinatlon, no matter has come to my attention- 111 which give5 me reasonable cause to belleve that in any material respect the requirements to keep accounting records in accordance with Section 130 of the 2011 Act. and to prepare accounts which accord with the accounting records and to comply with the accounting requirernents of the 2011 Act have not been met,. or 121 to which. in my opinion, attention should be drawn Sn order to enable a proper understanding of the account5 to be reached. King Loose & Co St John's House 5 South Parade Summertown OKFord OX27JL Mrs H C Fanthome FCA Dated: Ig￿ aJ)LL Page 6

The Parochial Church Council of the Ecclesiastical Parish of St Michael & All Angels, Summertown

Statement of Financial Activities for the year ended 31 December 2021

DRAFT
Unrestricted
Restricted
Notes
Funds
Funds
£
£
Income and endowments
Donations and legacies
4
72,433
1,912
Other income
4
63,427
-
Total Income before investments
4
135,860
1,912
Income from investments
4
3,846
-
Total income and endowments
139,706
1,912
Expenditure
Charitable activities:
Missionary and Charitable giving
5
560
1,045
Ministry and church running costs
5
131,504
-
Other support costs
5
1,200
-
Total expenditure
133,264
1,045
Net income/(expenditure) before gains and losses
on investments
6,442
867
Net gains/(losses) on investments
16,899
-
Net income/(expenditure)
23,341
867
Transfers between funds
-
-
Net movement in funds
23,341
867
Balance brought forward at 1 January 2021
713,476
479
Balance carried forward at 31 December 2021*
736,817
1,346		 2021
Total
Funds
£
74,345
63,427
137,772
3,846
141,618
1,605
131,504
1,200
134,309
7,309
16,899
24,208
-
24,208
713,955
738,163

All of the above results are derived from continuing activities. All gains and losses recognised in the period are included above.

Page 7

The Parochial Church Council of the Ecclesiastical Parish of St Michael & All Angels, Summertown

Statement of Financial Activities for the year ended 31 December 2020 – comparative figures

DRAFT
Unrestricted
Restricted
Notes
Funds
Funds
£
£
Income and endowments
Donations and legacies
4
81,907
1,501
Other income
4
54,238
-
Total Income before investments
4
136,145
1,501
Income from investments
4
3,831
-
Total income and endowments
139,976
1,501
Expenditure
Charitable activities:
Missionary and Charitable giving
5
-
1,545
Ministry and church running costs
5
145,613
-
Other support costs
5
1,200
-
Total expenditure
146,813
1,545
Net income/(expenditure) before gains and losses
on investments
(6,837)
(44)
Net gains/(losses) on investments
9,442
-
Net income/(expenditure)
2,605
(44)
Transfers between funds
(4)
4
Net movement in funds
2,601
(40)
Balance brought forward at 1 January 2020
710,875
519
Balance carried forward at 31 December 2020
713,476
479		 2020
Total
Funds
£
83,408
54,238
137,646
3,831
141,477
1,545
145,613
1,200
148,358
(6,881)
9,442
2,561
-
2,561
711394
713,955

All of the above results are derived from continuing activities. All gains and losses recognised in the period are included above.

Page 8

The Parochial Church Council of the Ecclesiastical Parish of St Michael & All Angels, Summertown

Balance sheet as at 31 December 2021

Notes
Fixed assets
Tangible assets
6
Investment assets
7
Current assets
Debtors
8
Short term deposits
Cash at bank and in hand
Creditors: amounts falling due
within one year
9
Net current assets
Net Assets
Funds
Unrestricted general funds
12
Unrestricted designated funds
12
Restricted funds
12
Total funds		 DRAFT
2021
£
10,295
6,532
21,750
38,577
(10,525)		 £
559,277
150,834
28,052
738,163
636,817
100,000
1,346
738,163		 2020
£
9,519
12,686
9,695
31,900
(11,157)		 £
559,277
133,935
20,743
713,955
613,476
100,000
479
713,955

The financial statements were approved and authorised for issue by the PCC on 20 March 2022 and signed on their behalf by:

………………………………………………….

The Revd Gavin Knight

The notes on pages 10 to 15 form an integral part of these financial statements

Page 9

Parochial Church Council of St Michael and All Angels, Summertown

Notes to the financial statements

for the year ended 31st December 2021

1. Accounting policies

The Balance Sheet, Statement of Financial Activities and Notes to the Financial Statements relate to the Parochial Church Council of St Michael’s Church, Summertown.

The financial statements are prepared under the historical cost convention, with the exception of investments which are included at fair value. The financial statements have been prepared under the Church Accounting Regulations 2006 and in accordance with Accounting and Reporting by Charities: 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 - Charities SORP (FRS 102).

Council members have identified the major risks which may affect the PCC and have taken reasonable steps to mitigate those risks.

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are DRAFT available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts 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.

A policy of retaining sufficient unrestricted reserves to finance the PCC’s planned programme and meet its future financial obligations is maintained. The policy is reviewed annually by the PCC.

Income

Donations and legacies

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under covenant is recognised only when received. Income tax recoverable on covenants or gift aid donations is included when due. Grants and legacies to the PCC are accounted for when received.

Other ordinary income

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

Income from investments

Dividends and interest are accounted for when receivable and are received gross.

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 at 31st December. The PCC has absolute discretion to invest the funds of the Parochial Council; no restrictions are placed on these powers. The Council’s policy for the selection of investments for the charity is to seek to achieve a balance between income and capital growth and that the investments held have a low risk.

Expenditure

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.

Page 10

Parochial Church Council of St Michael and All Angels, Summertown

Notes to the financial statements

for the year ended 31st December 2021 (continued)

1. Accounting policies (continued)

Activities directly relating to the work of the Church

The diocesan quota or parish share is accounted for when payable

Fixed assets

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the accounts by S.96(2)(a) of the Charities Act 1993. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property.

Summertown Church Hall

No value has been included in these accounts for this building, nor the land it is on.

The hall was built with stone and roof timbers from the original St John's Church (now demolished) in DRAFT Summertown. Due to its age and provenance its value is not easily compared to modern equivalents and there are few older "comparators". It stands uniquely within the parish. The War Memorial lies within its grounds. As with the main church building the hall requires permission from the Diocese for disposal.

The lower and upper halls are approximately 90 and 123 square meters, and have toilet and kitchen facilities. The building and gardens are well-maintained and are in daily use for social, educational and religious purposes.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

59 Aldrich Road

This freehold property is formally owned by DIOCESAN TRUSTEES (OXFORD) LIMITED, who hold it in Trust for the PCC of St Michael and All Angels Church, Summertown. It is valued as an asset at its purchase price of £559,277 (including £600 for existing installed white goods). The property will not be depreciated on the basis that it is held as an investment property in accordance with FRS 102, and thereby reflected at fair value, with revaluations being recorded in the Statement of Financial Activities.

Investments

Investments are valued at fair value at 31 December 2021.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.

2. AIM AND USE OF FUNDS

Designated

In 2018 the PCC decided to designate £100,000 of unrestricted funds for future outreach projects. This continues but with no specific proposals to date.

Restricted

The Organ Fund is for improvements to the Church organ. Funds are managed for the Oxford Fairplay Coordinating Group and for the Partnership Café. Oxford City Council awarded a grant from their “Community Infrastructure Levy” (CIL) fund for the development and maintenance of the church garden.

Page 11

Parochial Church Council of St Michael and All Angels, Summertown

Notes to the financial statements for the year ended 31st December 2021 (continued)

3. RELATED PARTY TRANSACTIONS

No Trustee received any remuneration (2020: £0) in the year. No fees (2020: £0) were paid to any Trustee. Reimbursement for expenses to Trustees amounted to £447 (2020: £548).

4. INCOME

Unrestricted Income
Donations and legacies
Planned giving:
Stewardship giving
Income tax recoverable
Collections (open plate) at services
Sundry donations – unrestricted
Legacies - unrestricted
Other income
Fees
Church lettings
Hall lettings
Other fundraising events
Other income
Aldrich income
Repayments under LPOW scheme
Total Unrestricted Income
Restricted Income
(Note 10)
Donations
Legacies
Total Restricted Income
Income from investments –
dividends/interest - unrestricted
Total income		 DRAFT
2021
£
52,440
12,092
5,255
2,646
-
2,028
4,375
39,667
-
663
16,080
614
1,912
--		 72,433
63,427
135,860
1,912
3,846
141,618		 2020
£
46,818
10,350
3,063
1,676
20,000
1,786
2,502
30,122
1,920
1,971
15,678
259

1,501
--		 81,907
54.238
136,145
1,501
3,831
141,477

Page 12

Parochial Church Council of St Michael and All Angels, Summertown

Notes to the financial statements for the year ended 31st December 2021 (continued)

5. EXPENDITURE

Unrestricted Expenditure
Grants
Sundry donations & Mission giving
Church running costs
Parish share of Diocesan Expenses
Church running expenses
Church maintenance
Administration & admin. expenses
Cleaning and gardening
Pastoral
Choir and music
Partnership expenses
Stationery and sundries
Telephone
Church Development
Curate expenses
Church Hall running costs
Caretaker
Cleaning and gardening
Services and supplies
Maintenance
Telephone
Hall development
Aldrich expenses
Other support costs
Independent examiners’ fee
Restricted Expenditure
(Note 11)
From legacies
From other funds
Total Restricted expenditure		 DRAFT
2021
£
560
59,536
7,298
2,964
23,451
313
-
5,883
25
1,895
1,052
4,020
352
12,584
964
5,009
2,093
365
-
-
1,045		 560
106,789
21.015
3,700
131,504
1,200
1,045		 2020
£
-
71,071
5,624
10,001
23,991
320
-
3,166
85
915
1,004
-
184
12,038
2,261
5,612
2,984
437
150
-
1,545		 -
116,361
23,482
5,770
145,613
1,200
1,545

Page 13

Parochial Church Council of St Michael and All Angels, Summertown

Notes to the financial statements for the year ended 31st December 2021 (continued)

6. TANGIBLE FIXED ASSETS

DRAFT
59 Aldrich Road
Investment Property
Cost or Valuation
£
At 1 January 2021
559,277
Additions
-
Disposals
-
At 31 December 2021
559,277
Net book values
At 31 December 2021
559,277
At 31 December 2020
559,277
7.
FIXED ASSET INVESTMENTS
2021
£
At Fair Value
150,834
8.
DEBTORS
2021
£
Prepayments
5,677
Other debtors
4,618
10,295
9.
CREDITORS
2021
£
Accruals and deferred income
4,691
Other creditors
5,834
10,525		 2020
£
133,935
2020
£
5,582
3,937
9,519
2020
£
2,693
8,464
11,157

10. RESTRICTED INCOME

Donations for the Fairplay Project
Grant from Oxford City Council for Garden
Receipts from Partnership Café
Total		 £
325
1284
303
1,912

11. RESTRICTED EXPENDITURE

Disbursement for the Fairplay Project
Disbursement against the CIL Garden fund
Total		 £
307
738
1,045

Page 14

Parochial Church Council of St Michael and All Angels, Summertown

Notes to the financial statements for the year ended 31st December 2021 (continued)

12. ANALYSIS AND RECONCILIATION OF MOVEMENTS ON FUNDS

DRAFT
Church
and Hall
Unrestricted
Outreach
Fund
Designated
Organ Fund
Restricted
Fairplay
Fund
Restricted
Partnership
Café Fund
Restricted
CIL Garden
Fund
Restricted
£
£
£
£
£
£
Income
139,706
-
-
325
303
1,284
Expenditure
(133,264)
-
-
(307)
-
(738)
Surplus/(deficit)
6,442
-
-
18
303
546
Transfers
-
-
-
-
-
-
Investment
gain/losses
16,899
-
-
-
-
-
Net movement in
funds
23,341
-
-
18
303
546
Funds brought
forward
613,476
100,000
390
89
-
-
Funds carried
forward
636,817
100,000
390
107
303
546
Split
Tangible fixed
assets
559,277
-
-
-
-
Fixed asset
investments
150,834
-
-
-
-
Net current
assets
(73,294)
100,000
390
107
303
546
636,817
100,000
390
107
303
546		 Total
2021
£
141,618
(134,309)
7,309
-
16,899
24,208
713,955
738,163
559,277
150,834
28,052
738,163

Page 15