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2020-12-31-accounts

All Saints Church

End of Year Financial Statements

Year ending 2020

Incumbent Revd Paula York

Bankers Lloyds Bank Plc Market Street Wellingborough

Page 1

Index Page
Membership of the Parochial Church Council 3
Review of Activities & Future Aims 4
Structure,Governance and Management 5
Statement of Financial Activities 6
Balance Sheet as at 31 12 2020 7
Accounting Policies 8-10
Statement of assets and liabilities 11-12
Analysis of Income and expenditure 13-15
Report of the Independent Examiner 16

Page 2

During the year the following served as members of the PCC

Incumbent Rev’d Paula York Chairman (from April 2020)
Associate priest Rev’d Christine Ostler
Revd Canon Margaret Johnson
Wardens Mr Robert Allen Vice Chairman
Mr Bob Townson
PCC Treasurer Mr Christopher Haynes
PCC Secretary Mrs Sophia McClymont
Licensed Pastoral Mrs Pamela Byles
Minsters Mr Frederick Raitt
Mrs Pat Thomas
Parish Evangelist Mrs Helen Jennings
Organist and Mr Harrison Cook
Choirmaster
Representatives on Mrs Sue Mutlow
Deanery Synod
School Foundation
Governors Mrs Pat Thomas
Mr Bob Townson
Mr Ian Barrett
Elected Members Mr Clive Adams
Mr Christopher Haynes
Mr William Jenkin Deputy Warden
Mr Michael Jennings Deputy Warden
Mrs Sophia McClymont
Mrs Susan Mutlow
Mr Steve Till
Mr John Vintiner Deputy Warden
Mrs Maxine Smith
Mrs Vicki Pilkington
Miss Karen Leveridge
Mr Ian Barrett
Mrs C Skinner

Page 3

Review of Activities 2020

This year has been one of change following the covid 19 outbreak which has meant we have all had to adjust to a new style of worship. Under the leadership of our new Vicar, the Revd Paula York (whose induction was on Sunday 19[th] April by Zoom), we have managed to have to continue to worship via a mix of in person services without singing when the regulations allowed, and via Zoom or YouTube.

The Revd Canon Margaret Johnson joined our Ministry team during the year. We managed to hold our Patronal service jointly with All Hallows at the beginning of November.

Our Mothers’ Union branch have continued to meet monthly by Zoom. We have again supported various missions. Filling individual boxes for the Childrens’ Society together with £2400 donated to various local charities from our annual church mission fund. This is less than normal owing to the impact of Covid 19 on our fundraising activities. Our church hall has been closed to outside bookings since the lockdown started in March. Our church school suffered a very bad flood in August which meant all of the lower ground floor has been out of use. We offered the use of our church hall so that the school nursery unit could continue. They moved in in September 2020 and will be with us until summer 2021. Sunday has continued to be offered every week via Zoom – we also managed to hold our Nativity Play via Zoom on Christmas Eve with over 50 attending.

Our sponsored uniformed organisations have not met in person during lockdown but it is hoped that this will be possible as restrictions ease.

In the coming year we hope to develop our mission to the town with projects in the shopping centre, developing our childrens work and deepening our involvement with the church school and other schools in the area. We will be exploring the continued use of streaming and video conferencing to ensure that we can keep connect with those are unable to attend worship in person.

Page 4

Structure, governance and management

Committees

The PCC operates through a number of committees that meet between full meetings of the PCC.

Standing committee

This is the only committee required by law. It has power to transact the business of the PCC between its meetings subject to any direction given by the council.

Development committee

This committee's remit is to form a vision for the future of the church. It is focusing on looking at ways to make our building space more flexible for worship and other events.

Finance committee

This committee meets to discuss the finances of the church and assist the Treasurer.

Hall committee

The Hall committee attends to matters relating to the Church Hall and assists the Hall Booking Clerk.

Liturgy and Worship committee

This committee attends to matters relating to ministry within the church, including forms of worship.

Maintenance committee

This committee attends to matters relating to the stewardship of plant such as church buildings and fabric, the churchyard and garden, the Vicarage and 3 Lister Road, formerly occupied by a curate.

Ministry team

The team attends to matters relating to the pastoral needs of the congregation and the local community particularly when individuals are in need of care and support. This might be offered through prayer, visiting or in practical ways.

Outreach and education committee

This committee aims to foster further Christian training and development, and cover the area of outreach, and support mission, ecumenical links and relief agencies.

Social committee

This committee attends to matters relating to events that bring the congregation together to meet and get to know one another better and provide opportunities for people on the fringe or outside to find out more about the church. These events might or might not raise funds.

Page 5

Statement of Financial Activities

Unrestricted
Restricted
Endowment
Total
Prior year
funds
funds
funds
funds
total funds
Income and endowments from:
Donations and legacies
Income from charitable activities
Other trading activities
Investments
Other income
Total income and endowments from:
Expenditure on:
Raising funds
Expenditure on charitable activities
Other expenditure
Total expenditure on:
Net income / (expenditure) resources before
transfer
Transfers
Gross transfers between funds - in
Gross transfers between funds - out
Other recognised gains / losses
Net movement in funds
Total funds brought forward
Total funds carried forward
Represented by
Unrestricted
General fund
Designated
Fabric Fund
Hayden Smart Gift
Other Church Groups
Restricted
Choir Social
Flame Appeal
Little Saints
Sunday Club
Ted Adams Memorial
Youth Project		 44,383
44,383
60,598
20,229
20,229
24,781
1,937
1,937
5,354
8,658
168
8,826
8,312
7,945
7,945
8,470
83,154
168
83,322
107,516
594
594
899
76,407
76,407
101,628
629
629
1,276
77,630
77,630
103,804
5,523
168
5,691
3,711
552
552
(552)
(552)
5,523
168
5,691
3,711
79,453
22,902
102,355
99,387
84,976
23,070
108,047
103,099
53,763
53,763
49,783
29,959
29,959
29,166
252
252
252
250
250
250
180
180
180
2,801
2,801
2,801
61
61
61
167
167
167
19,565
19,565
19,397
295
295
295

Page 6

Balance sheet

Total funds
Prior year funds
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
Liabilities
Creditors: Amounts falling due in one year
Net current assets less current liabilities
Total assets less current liabilities
Total net assets less liabilities
Represented by
Unrestricted
General fund
Designated
Fabric Fund
Other Church Groups
Hayden Smart Gift
Restricted
Choir Social
Flame Appeal
Friends of All Saints
Little Saints
Sunday Club
Ted Adams Memorial
Youth Project
Funds of the church		 25,905
25,905
25,905
25,905
(857)
82,780
79,284
82,780
78,427
1,388
1,977
1,388
1,977
81,391
76,449
107,297
102,355
107,297
102,355
53,763
49,783
29,959
29,166
250
250
252
252
180
180
2,801
2,801
61
61
167
167
19,565
19,397
295
295
107,297
102,355

Page 7

1 ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP (FRS 102).

Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are 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.

Incoming resources

Voluntary income and capital sources

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 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 and the amount due.

Funds raised by the fete, garden party and similar events are accounted for gross. Sales of magazines from the church are accounted for gross.

Other ordinary income

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

Resources expended

Activities directly relating to the work of the church

Costs of generating voluntary income comprise those costs directly attributable to generating incoming resources for the charity and include staff costs and attributable overhead cost.

Charitable activities expenditure represents the overhead and staff costs incurred for the furtherance of the charity's objectives as stated in the annual report. Expenditure is shown gross, inclusive of unrecoverable VAT and is charged on an accruals basis. Costs are allocated to the particular activity that directly relates to it. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of the resources.

Governance costs are those incurred in connection with the management of the Parochial Church Council of All Saints, Wellingborough's assets, organisational administration and compliance with constitutional and statutory requirements.

Page 8

Fund accounting

Restricted funds are to be used for specified purposes laid down by the donor or by the purpose of the appeal. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.

Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity.

Fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by s.10(2) of the Charities Act 2011.

No value is placed on movable 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. All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Other fixtures, fittings and office equipment

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

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.

Church Workers Pension Fund (CWPF) December 2020 Year End

All Saints participates in the Pension Builder Scheme section of CWPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers.

The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014.

Page 9

Pension Builder Scheme

The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.

Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2020: £860 and 2019: £819).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31 December 2016. A valuation as at 31 December 2019 was under way as at 31 December 2020.

For the Pension Builder Classic section, the valuation revealed a deficit of £14.2m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £1.8m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The legal structure of the scheme is such that if another employer fails, All Saints could become responsible for paying a share of that employer’s pension liabilities.

Page 10

Statement of assets and liabilities

This year
Last year
Tangible assets
Lister Road Property
General fund (Unrestricted)
Total for Tangible assets
Cash at bank and in hand
Lloyds Bank current account
Fabric Fund (Designated)
Flame Appeal (Restricted)
Friends of All Saints (Restricted)
Hayden Smart Gift (Designated)
Ted Adams Memorial (Restricted)
General fund (Unrestricted)
Agency collection (Restricted)
Lloyds Bank Current account Church Hall
General fund (Unrestricted)
Lloyds Instant Access
Choir Social (Restricted)
Fabric Fund (Designated)
Friends of All Saints (Restricted)
Little Saints (Restricted)
Sunday Club (Restricted)
Ted Adams Memorial (Restricted)
Youth Project (Restricted)
General fund (Unrestricted)
Lloyds 30 Day Notice account
General fund (Unrestricted)
Flame Appeal
Flame Appeal (Restricted)
General fund (Unrestricted)
Lloyds Investment Account (Money market)
Choir Social (Restricted)
Fabric Fund (Designated)
Friends of All Saints (Restricted)
Little Saints (Restricted)
Sunday Club (Restricted)
Ted Adams Memorial (Restricted)
Youth Project (Restricted)
General fund (Unrestricted)
Other Church Groups (Various)
Other Church Groups (Designated)
General fund (Unrestricted)
Total for Cash at bank and in hand
Debtors
Accounts Receivable		 25,905
25,905
25,905
25,905
25,905
25,905
552
252
252
7,709
3,944
136
211
8,650
4,408
4,206
5,891
4,206
5,891
180
180
29,407
29,166
61
61
167
167
19,565
19,397
295
295
5,555
4,964
55,232
54,232
11,516
11,512
11,516
11,512
2,801
2,801
1
2,802
2,801
250
250
120
187
371
438
82,780
79,284

Page 11

General fund (Unrestricted)
Total for Debtors
Agency accounts
Agency collections
Agency collection (Restricted)
Total for Agency accounts
Creditors: Amounts falling due in one year
Accounts Payable
General fund (Unrestricted)
Total for Creditors: Amounts falling due in one year
Grand total		 (857)
(857)
(857)
(136)
(211)
(136)
(211)
(136)
(211)
(1,252)
(1,766)
(1,252)
(1,766)
107,297
102,355

Page 12

Analysis of income and expenditure

Donations and legacies

Gift Aid - Bank
Gift Aid - Envelopes
Loose plate collections
Income for missions
Donations appeals etc
Tax recoverable on Gift Aid
Legacies
Sundry
Total		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
27,830
27,830
37,479
3,208
3,208
4,410
1,413
1,413
3,011
695
695
343
220
2,000
2,220
1,455
8,938
8,938
10,512
2,306
77
77
1,079
42,383
2,000
44,383
60,598

Income from charitable activities

PCC Fees for weddings and funerals
All S
PCC fees for weddings and funerals
All H
Locum Fees Wedding & Funerals All
S
Locum Fees Wedding & Funerals All
H
Travel Expenses for Funerals All S
Travel Expenses for Funerals All H
Organist Fees Weddings and
Funerals AS
Organist Fees weddings and
Funerals AH
Verger Fees Weddings and Funerals
AS
Verger Fees Weddings and Funerals
AH
Contribution to heat & light All S
Contribution to heat & light All H
Church hall lettings
Church Requisites
Total		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
799
799
1,086
536
536
711
159
159
127
107
180
180
100
60
60
80
315
315
540
150
150
375
180
180
230
140
140
150
275
275
645
185
185
360
17,162
17,162
20,047
87
87
222
20,229
20,229
24,781

Other trading activities

Other trading activities
Fundraising
Church Hall Donations
Magazine income - advertising
Parish magazine sales
Total		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
534
534
3,333
400
400
645
617
617
920
385
385
455
1,937
1,937
5,354

Investments

Total Unrestricted Designated Restricted Endowment This year Last year

Page 13

Bank and building society interest
Lister Road Rent
Total		 43
274
168
486
351
8,340
8,340
7,960
8,383
274
168
8,826
8,312

Other income

Other income
Recharge income - clergy expenses
Recharge income - Photocopying
Recharge income - Telephone
Recharge income - Parish Secretary
Recharge Income Magazine
Recharge Office costs
Recharge income - Church Requistes
Recharge Vicars Phone
Recharge Sundry Income
Total		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
1,660
1,660
2,229
297
297
167
473
473
492
4,381
4,381
4,159
236
236
727
133
133
34
487
487
465
125
125
195
150
150
7,945
7,945
8,470

Raising funds

Raising funds
Costs of stewardship campaign
Costs of fetes & other events
clergy travel All Saints
Clergy travel All Hallows
Bank Charges
Total		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
112
112
20
20
366
210
210
100
60
60
60
192
192
373
594
594
899

Expenditure on charitable activities

Giving - relief and development
agencies
Home mission
Choir & Music
Parish share
Organist Honorarium
Salary of Parish Secretary
Organist fees Funerals & Weddings
All Ha
Organist Fees Funerals & Weddings
All S
Verger fees Funerals & Weddings All
H
Verger fees for Funerals & Weddings
All
Clerks fees for Funeral & Wedding
fees
Clergy fees Funerals & Weddings All
H
Clergy fees Funerals & Weddings All
S
Fees Contras, All Saints
Fees Contras, All Hallows
Working expenses of incumbent		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
530
2,434
2,434
2,571
640
640
572
30,000
30,000
50,223
3,495
3,495
3,570
8,835
8,835
8,320
155
155
300
160
160
225
190
190
120
180
180
180
25
25
20
20
107
159
159
127
25
25
696
696
1,040
2,297
2,297
3,586

Page 14

Parsonage house expenses
Vicar's telephone
Sunday Club
Church running - insurance
Church office - telephone
Office Costs
Organ / piano tuning
Church maintenance
Church Req
Stationery
Photocopying and repairs
Sundry Expenses
Church running - electric
Church running - heating and lighting
Magazine expenses
Hall running - electricity
Hall running - gas
Hall running - insurance
Hall Running-R/R Property
Hall running - maintenance
Hall running- caretaker
Hall running-cleaning materials
Hall running-sundry expenses
Hall running - water
Minor Repairs
Lister Road Property Costs
Total		 170
170
231
231
371
97
97
95
2,814
2,814
2,743
1,025
1,025
971
519
519
803
1,165
1,165
1,223
1,740
930
2,670
1,626
1,402
1,402
1,319
287
287
711
755
755
796
37
37
1,000
2,423
2,423
4,470
34
924
924
2,167
340
340
794
895
895
1,072
1,170
1,170
1,141
92
92
254
3,487
3,487
1,096
1,612
1,612
2,651
231
231
388
110
110
223
508
508
532
725
4,121
4,121
2,941
75,477
930
76,407
101,628

Other expenditure

Sundries
Total		 Total
Unrestricted
Designated
Restricted
Endowment
This year
Last year
629
629
1,276
629
629
1,276

Page 15

Independent examiners, report to the trustees of All Saints, Wellingborough

The Charity’s Trustees are responsible for the preparation of the accounts. We report on the accounts for the year ended 31 December 2020, which are set out on pages 6 to 14.

Respective responsibilities of trustees and 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 Act) and that an independent examination is needed. It is our responsibility to

Basis of independent examiner’s report

Our examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ statement

In the course of our examination no matter has come to our attention

2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Denton Tavara Limited

Denton Tavara Ltd Independent Examiner 6 Alfred Street Rushden Northants NN10 9YS

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