2021-12-31-accounts

St Botol h’s Church p

Registered Charity Number 1130426

St Botolph’s Church

Barton Seagrave

Financial Statements

Year Ended 31[st] December 2021

Table of Contents

• F-1. Financial Review

• F-3 Independent Examiner’s Report

• F-4 Statement of Financial Activities (Income)

• F-5 Statement of Financial Activities (Expenditure) F-6 Summary Statement of Funds

• F-7 Balance Sheet

• F-8 Notes to Financial Statements

St Botol h’s Church p

Financial Review Year ended 31[st] December 2021

The attached Accounts give information required of the Parochial Church Council by law as good stewards of monies received and paid.

The Financial statements are set out in pages F4-F8 of this report.

We have had a challenging year in many ways, as we started the year with a budgeted shortfall of £93,020, which was to be funded from contributions from restricted funds, the general fund and match funded income.

The actual outturn for 2021 shows a deficit of £25,298, broken down by a surplus on restricted funds of £8,137 and a deficit on unrestricted funds of £33,434. There was a deficit on the general fund of £6,852 which was funded in year by the staffing fund.

Funding for the Family Support Worker was through one off income and regular donations in the year amounting to £27,553 and expenditure on salaries and expenses of £24,434. The balance on the FSW fund at the end of 2021 was £20,330.

There were several variances against the revised budgeted expenditure over the year, but the large saving was due to spend on maintenance and property repairs being only £58,514 against an original budget of £102,800. Whilst his has helped the financial situation for 2021, several programmes have been deferred in the next financial year and will be funded from various restricted and unrestricted funds.

Expenditure has been generally well controlled throughout the year, and if the cost of repairs and the FSW are excluded, are broadly in line with the revised budget. One area that has exceed forecasts is that of Audio and IT costs, which due to the additional technology required, to broadcast the services, and the phased replacement of the sound system which is being funded from donations received of in year of £13,750. Heating and lighting costs were lower than expected but the new contract entered into at the end of the year will see a significant increase in costs for 2022.

As part of the budget, it was expected that income was going to fall significantly due to reduced weddings and lettings. However, through one off donations and an increase in income from fees for weddings and funerals, we saw income increase on 2020 levels by £21,391 to £274,852. The rental for the Church flats was maintained due to full occupancy and other receipts were boosted by smaller one-off donations.

Whilst we are showing a deficit for 2021 of £25,298 this was against a forecast deficit for 2021 of £93,020. This was an in-year variance of £67,723 which was generated by the deficit on the general fund being £7,301 less than expected as the deficit itself was funded through the staffing fund, and was used to contribute towards the cost of the Associate Minister that had been paid through the Parish Share. Designated and unrestricted funds outturn was an underspend against the forecast of £34,969 and the Restricted funds were under by £25,453. Overall, this was mainly due to planned building works not taking place and additional funds received for the sound system.

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Overall, for 2021 the level of unrestricted and general funds stands at £119,225 down from £152,659 in 2020 and restricted funds stand at £107,880 up from £99,743 in 2020.

In reviewing the accounts, other points come to note:

• Planned giving rose to £151,894 (2020 £144,828) an increase on last year’s actuals of £7,066, FSW planned giving was £23,326 up by £730 on last years planned FSW giving levels.

• The income from Weddings and Funerals and lettings exceeded expectations and was up by £7,676 on last year but this was also in part due to a change in the year with income from St Edmunds Warkton now going through St Botolphs, hence expenditure was also up on budgeted costs.

• Major repairs and maintenance to the Church and Church properties cost £58,514 (2020 £21,395) but levels of repairs remain outstanding and are programmed into 2022. Spend on general maintenance was £3,732.

• Giving to Missions from unrestricted funds was £ 20,263. There was also shareplan giving of £1,982 and a full allocation from Pot 6.

At the end of 2021:

• General Fund has broken even in 2021 and the

• • Staffing Fund is in surplus by £ 2,556 (2020: £3,079)

The year ahead sees continuing financial challenges, and the budgeted General fund deficit in 2022, has been funded from a transfer from the staffing fund, but this cannot continue to be funded from reserves given the planned level of expenditure on repairs and maintenance. Therefore, it is vital that the budget for 2022 is set with a balance against the general fund and costs allocated to the correct fund. We will have to continue to apply tighter financial management in the hope that we will be able to bring the Church Finances into balance for 2022 and rely less on transferring funds to correct any deficit trend on the general fund. This will require strong financial stewardship, but at the same time ensuring that resources gifted are used a way that will bring glory to God.

It is a constant challenge to be wise stewards of the resources we have and to be bold in the cause of the Gospel. Through the continued development of new homes in our Parish we have opportunities as never before to reach out to our surrounding community.

We pray that God will provide the resources, human and financial in the years ahead.

To this John relied, “A person can receive only what is given them from Heaven.” John 3:27

May we bring Glory to God in all we do, day by day, week by week.

David Wright (Treasurer)

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St Botolph's Church February 2022 24

St Botol h’s Church p

Independent Examiner’s Report to the Trustees (PCC) of St. Botolph’s Church, Barton Seagrave

This report on the Financial Statements of St Botolph’s Church for the year ended 31 December 2021, which are set out on pages F1 to F7, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 and section 43 of the Charities act 1993.

Respective responsibilities of the PCC and the examiner

As the members of the PCC, you are responsible for the preparation of the financial statements. You consider that the audit requirement of the Regulations and section 43 (2) of the Act do not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations.

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission under section 43 (7)(b) of the Act and to be found in the Church guidance, 2006 edition, issued by the Finance Division of the Archbishop's council. That examination includes a review of the accounting records kept by the PCC and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements

• to keep accounting records in accordance with section 41 of the Act: and

• to prepare financial statements which accord with the accounting records and comply with the requirements of the Act and the Regulations

have not been met: or

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

Alan Deans Kettering Northants

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St Botol h’s Church p

Statement of Financial Affairs (Income) Year Ended 31st December 2021

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Statement of Financial Affairs (Expenditure) Year Ended 31st December 2021

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Funds Movement Summary

Year Ended 31[st] December 2021

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St Botol h’s Church p

Balance Sheet

Year Ended 31[st] December 2021

Approved by the Parochial Church Council and signed on it’s behalf by Revd. Mark Lucas (PCC Chairman)

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Notes to the Financial Statements Year ended 31[st] December 2021

1. Accounting Policies

• a) The Financial Statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP (FRS102). The accounts have been prepared under the historical cost convention, using the accruals basis.

• b) Unrestricted Funds represent the funds of the PCC that are not subject to any restriction regarding their use and are available for application to the general purposes of the PCC.

• c) Restricted Funds represent funds of the PCC which can only be used for specific purposes.

• d) Income Tax recoverable under Gift Aid is not recognised until received.

• e) The Freehold Property in use by the Church is based on a historical valuation less depreciation.

2. Fixed Assets

comprise 2 Freehold properties:

• Church House

• Rectory Cottage.

The Book value of these properties does not reflect current market value.

The Property Holding Fund finances both properties.

3. Employees

a) The average number of employees in the year was 3 (2020: 3)

b) The total remuneration of employees amounted to £39,430 (2020: £39,376) .

The figure for 2021 includes the full year for the FSW and a refund through the job support grant for the Cleaner of £1,087.

4. Independent Examiner

The Independent Examiner, Mr. Alan Deans, received no fees for his services, but a donation was given to a The Railway Children fund of £60.

5. Parish Share

5.	Parish Share	2021	2020
	Full amount paid:	£137,352	£137,352

6. Honoraria

The Treasurer, Mr David Wright received £500. (2020 £500) The Musical Director, Mt Graham Tilney received £300 (2020: £300) Donation for Audit services £60 (2020 £60)

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