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2021-12-31-accounts

All Saints Church

End of Year Financial Statements

Year ending 31/12/2021

Incumbent Revd Canon Paula York MA

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 Canon Paula York
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 Mr Mike Jennings
Licensed Pastoral Mrs Pat Thomas
Minsters
Parish Evangelist Mrs Helen Jennings
Organist and Mr Harrison Cook
Choirmaster
Representatives on Mrs Sue Mutlow
Deanery Synod Ms Wendy Steele
School Foundation Mr Ian Barrett
Governors Mrs Pat Thomas
Mr Bob Townson
Elected Members Mr Clive Adams
Mr Christopher Haynes
Mr William Jenkin Deputy Warden
Mr Michael Jennings Deputy Warden
Mr Steve Till
Mr John Vintiner Deputy Warden
Mrs Vicki Pilkington
Miss Karen Leveridge
Mr Ian Barrett
Co-opted Mrs C Skinner
Mr Harrison Cook

Page 3

Review of Activities in 2021

This year continued to see the effects of the COVID19 pandemic and the resulting changes in public health guidelines. We began the year once again locked down and the church closed to public worship. During this time we offered Sunday morning worship, Sunday evening Compline and Morning and Evening during the week via Zoom.

Sunday School continued online until September when they were able to physically meet in the Lady Chapel. We have had to accommodate the loss of our church hall facility following the inappropriate building work being carried out by the property developer working on the land behind the hall. The Hall continues to be closed after being designated an exclusion zone by HSE. The matter is in the hands of our insurers, and we hope to see resolution later this year. In the meantime, the loss of income is being covered in the most part by our insurers. However, we have not been able to conduct our usual fundraising activities.

We have been back into Church for worship from Easter Sunday although COVID restrictions meant that we were socially distanced and wearing masks. Despite this we have held Lent and Advent course via Zoom, our monthly book club continues to meet. Our Mother’s Union branch met through the year either via Zoom or in person, when possible. It was reluctantly decided in December to place the branch in abeyance as there was no volunteers to take on the committee roles.

Our sponsored uniformed organisations have had to make alternative arrangements to meet whilst the hall has been out of action. They attended our Harvest celebration in October. Our work with children and young people has led to several outdoor events this year and we hope to continue to build on this over the coming year. Our Christmas Eve Nativity play was once again held via Zoom with good attendance. The number of children in Sunday School is slowing getting back to normal.

We have supported the Children’s Society, the Daylight Centre and the Salvation Armies Christmas Toy appeal. Along with donations of gifts for Northamptonshire Young Carers.

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
Expenditure on:
Raising funds
Expenditure on charitable activities
Other expenditure
Total expenditure
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		 43,093
0
0
43,093
44,383
18,100
0
0
18,100
20,229
2,091
0
0
2,091
1,937
12,363
2,583
0
14,947
8,826
17,365
0
0
17,365
7,945
93,014
2,583
0
95,597
83,322
757
0
0
757
594
84,677
0
0
84,677
76,407
521
0
0
521
629
85,956
0
0
85,956
77,630
7,057
2,583
0
9,640
5,691
0
0
0
0
552
0
0
0
0
(552)
7,057
2,583
0
9,640
5,691
84,226
23,070
0
107,297
102,355
91,284
25,654
0
116,938
108,047
58,634
0
0
58,634
53,763
31,396
0
0
31,396
29,959
252
0
0
252
252
250
0
0
250
250
0
180
0
180
180
0
2,801
0
2,801
2,801
0
61
0
61
61
0
167
0
167
167
0
22,149
0
22,149
19,565
0
295
0
295
295

Page 6

Balance sheet

Class and code
Description		 This year
Last year
Fixed assets
6430
Lister Road Property
Total Fixed assets
Current assets
6501
Lloyds Bank current account
6505
Lloyds Bank Current account Church Hall
6506
Lloyds Instant Access
6507
Lloyds 30 Day Notice account
6508
Flame Appeal
6509
Lloyds Investment Account (Money market)
6510
Other Church Groups (Various)
6511
Wellingborough All Saints PCC 013883001S
Z05
Accounts Receivable
Total Current assets
Liabilities
6699
Agency collections
Z04
Accounts Payable
Total Liabilities
Net Asset surplus(deficit)
Reserves
Excess / (deficit) to date
Z01
Starting balances
Total Reserves
Represented by funds
Unrestricted
Designated
Restricted
Endowment
Total		 25,905
25,905
25,905
25,905
7,642
8,650
12,251
4,206
687
55,232
11,516
11,516
2,802
2,802
0
0
371
371
56,798
0
0
0
92,070
82,780
0
136
1,788
1,252
1,788
1,388
116,188
107,297
8,890
4,941
107,297
102,355
116,188
107,297
58,634
53,763
31,899
30,462
25,654
23,070
0
0
116,188
107,297

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 2021 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

Church Workers pension Fund (CWPF) December 2021 Year End

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

CWPF has two sections:

The Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

Pension Builder Classic provides a pension, 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.Discretionary increases may also be added 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. Discretionary bonuses may be added before retirement, depending on investment experience and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

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 (2021: £877 and 2020: £860).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.

For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 3% following improvements in the funding position over 2021, There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m 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) -
Hayden Smart Gift (Designated) -
General fund (Unrestricted) -
Agency collection (Restricted) -
Lloyds Bank Current account Church Hall
General fund (Unrestricted) -
Lloyds Instant Access
Choir Social (Restricted) -
Fabric Fund (Designated) -
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) -
Other Church Groups (Various)
Other Church Groups (Designated) -
General fund (Unrestricted) -
Total for Cash at bank and in hand
Investments
Wellingborough All Saints PCC 013883001S
Fabric Fund (Designated) -
Ted Adams Memorial (Restricted) -
General fund (Unrestricted) -		 25,905
25,905
25,905
25,905
25,905
25,905
1,566
552
252
252
5,823
7,709
0
136
7,642
8,650
12,251
4,206
12,251
4,206
180
180
862
29,407
61
61
167
167
565
19,565
295
295
(1,444)
5,555
687
55,232
11,516
11,516
11,516
11,516
2,801
2,801
1
1
2,802
2,802
250
250
120
120
371
371
35,271
82,780
28,967
0
21,583
0
6,247
0
56,798
0

Page 11

Total for Investments
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		 56,798
0
0
(136)
0
(136)
0
(136)
(1,788)
(1,252)
(1,788)
(1,252)
116,188
**107,297 **

Page 12

Analysis of income and expenditure

Total
Unrestricted Designated Restricted Endowment This year Last year
INCOME AND ENDOWMENTS
Donations and legacies
Gift Aid - Bank 27,736 0 0 0 27,736 27,830
Gift Aid - Envelopes 2,763 0 0 0 2,763 3,208
Other planned giving 35 0 0 0 35 0
Loose plate collections 2,814 0 0 0 2,814 1,413
Income for missions 143 0 0 0 143 695
Donations appeals etc 1,529 0 0 0 1,529 2,220
Tax recoverable on Gift Aid 7,527 0 0 0 7,527 8,938
Sundry 478 0 0 0 478 77
Income Choir All Saints 65 0 0 0 65 0
Total 43,093 0 0 0 43,093 44,383
Income from charitable activities
PCC Fees for weddings and funerals 1,258 0 0 0 1,258 799
All S
PCC fees for weddings and funerals 1,566 0 0 0 1,566 536
All H
Locum Fees Wedding & Funerals All 0 0 0 0 0 159
S
Travel Expenses for Funerals All S 160 0 0 0 160 180
Travel Expenses for Funerals All H 240 0 0 0 240 60
Organist Fees Weddings and 365 0 0 0 365 315
Funerals AS
Organist Fees weddings and 400 0 0 0 400 150
Funerals AH
Verger Fees Weddings and Funerals 320 0 0 0 320 180
AS
Verger Fees Weddings and Funerals 480 0 0 0 480 140
AH
Contribution to heat & light All S 190 0 0 0 190 275
Contribution to heat & light All H 400 0 0 0 400 185
Church hall lettings 12,697 0 0 0 12,697 17,162
Church Requisites 24 0 0 0 24 87
Total 18,100 0 0 0 18,100 20,229
Other trading activities
Fundraising 1,468 0 0 0 1,468 534
Church Hall Donations 0 0 0 0 0 400
Magazine income - advertising 378 0 0 0 378 617
Parish magazine sales 245 0 0 0 245 385
Total 2,091 0 0 0 2,091 1,937

Page 13

Investments

Investments
Increase in share unit value
Bank and building society interest
Lister Road Rent
Total
Other income
Insurance claims
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
Recharge Organist
Total		 747
3,467
2,583
0
462
481
0
0
7,205
0
0
0		 6,798
0
943
486
7,205
8,340
8,415
3,948
2,583
0
9,000
333
0
0
1,514
0
0
0
139
0
0
0
437
0
0
0
4,449
0
0
0
515
0
0
0
0
0
0
0
348
0
0
0
227
0
0
0
0
0
0
0
400
0
0
0		 14,947
8,826
9,333
0
1,514
1,660
139
297
437
473
4,449
4,381
515
236
0
133
348
487
227
125
0
150
400
0
17,032
333
0
0		 17,365
7,945
INCOME TOTAL 88,732
4,281
2,583
0		 95,597
83,322

EXPENDITURE

Raising funds
Costs of stewardship campaign 0 0 0 0 0 112
Costs of fetes & other events 141 0 0 0 141 20
clergy travel All Saints 160 0 0 0 160 210
Clergy travel All Hallows 240 0 0 0 240 60
Bank Charges 216 0 0 0 216 192
Total 757 0 0 0 757 594
Expenditure on charitable activities
Home mission 2,440 0 0 0 2,440 2,434
Choir & Music 1,256 0 0 0 1,256 640
Parish share 38,000 0 0 0 38,000 30,000
Organist Honorarium 3,700 0 0 0 3,700 3,495
Salary of Parish Secretary 8,898 0 0 0 8,898 8,835
Organist fees Funerals & Weddings 400 0 0 0 400 155
All Ha
Organist Fees Funerals & Weddings 365 0 0 0 365 160
All S
Verger fees Funerals & Weddings All 400 0 0 0 400 190
H
Verger fees for Funerals & Weddings 360 0 0 0 360 180
All
choir All Saints 65 0 0 0 65 0
Clerks fees for Funeral & Wedding 0 0 0 0 0 25
fees
Clergy fees Funerals & Weddings All 20 0 0 0 20 20
H
Clergy fees Funerals & Weddings All 0 0 0 0 0 159
S
Fees Contras, All Saints 0 0 0 0 0 25
Fees Contras, All Hallows 1,716 0 0 0 1,716 696
Heat & Light Contra All Hallows 400 0 0 0 400 0
Working expenses of incumbent 2,702 0 0 0 2,702 2,297
Parsonage house expenses 0 0 0 0 0 170

Page 14

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
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
Lister Road Property Costs
Total
Other expenditure
Sundries
Total		 454
0
0
0
97
0
0
0
2,820
0
0
0
833
0
0
0
1,829
0
0
0
1,067
0
0
0
1,000
2,844
0
0
831
0
0
0
301
0
0
0
632
0
0
0
45
0
0
0
2,542
0
0
0
1,257
0
0
0
310
0
0
0
694
0
0
0
1,139
0
0
0
1,320
0
0
0
365
0
0
0
89
0
0
0
2
0
0
0
49
0
0
0
396
0
0
0
3,026
0
0
0		 454
231
97
97
2,820
2,814
833
1,025
1,829
519
1,067
1,165
3,845
2,670
831
1,402
301
287
632
755
45
37
2,542
2,423
1,257
924
310
340
694
895
1,139
1,170
1,320
92
365
3,487
89
1,612
2
231
49
110
396
508
3,026
4,121
81,833
2,844
0
0
521
0
0
0		 84,677
76,407
521
629
521
0
0
0		 521
629
EXPENDITURE TOTAL 83,112
2,844
0
0		 85,956
77,630
GRAND TOTAL 5,620
1,436
2,583
0		 9,640
5,691

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 2021, 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

Page 16

Denton Tavara Limited

Denton Tavara Ltd Independent Examiner 61A High Street South Rushden Northants NN10 0RA

Page 17