ANNUAL FINANCIAL REPORT
For the year ended 31[st] December 2021
The Parochial Church Council of the Ecclesiastical Parish of Southbourne with West Thorney
Registered Charity No. 1130876
Financial Review 2021
This year have been another very challenging one financially because of the Covid19 pandemic closing the church for a second year and then the church being closed for 6 months for renovation and rewiring.
Regular services and teaching have continued on the internet and via the church website when we were closed and worship has continued according to the current guidelines in St. John’s Church Centre and at St. Nicholas.
Most church members now donate using the Parish Giving Scheme (PGS). The PCC would like to encourage all church members to give regularly every month by Direct Debit. Chichester Diocese pays for the administration of the PGS which claims Gift Aid from HMRC for us and saves us a lot of administration.
The accounts this year are prepared on a Receipts and Payments basis.
We have had two appeals in the year. The first was for a memorial bench for Mark Everson which raised enough money to buy an inscribed bench. This appeal was run independently of the PCC through a crowdfunding website and raised more than enough money to provide one bench. The money left over has been paid to the PCC and this now forms the Mark’s Bench Fund to purchase a second bench in the future. The second appeal was for the support of the Family and Children’s Workers, Kim and Richard Carter. A total of £ 46,130 was raised including very generous grants of £ 5,000 from Deo Gloria Trust and £ 10,000 from the Joseph Rank Trust. We are very grateful to the Trusts and everyone who donated to the Fund. Thank you!
Income for this year was £ 215,930 and expenses £ 191,793. Our biggest expense (after the Diocesan Parish Share) was rewiring St. John’s Church which cost over £ 40,000. We now have a brighter, warmer, more energy efficient place of worship. However, we do face a bill of £ 21,000 for the replacement of the St. John’s Centre lift which has worn out.
Total Unrestricted Funds available to the PCC for the general running of the church are £ 107,678.
My thanks to the Finance Team: Jane Inglis (Gift Aid), Andy Walkley (St. Nicholas) and Julie Collins (Salaries) for their invaluable help.
Thank you, on behalf of the Trustees of the Parochial Church Council, for your donations and continued, generous financial support for St. John’s and St. Nicholas churches.
Dr. Alan McNeill Treasurer
Page 1 of 8
Record of Receipts:
| Analysis of money paid in: | Unrestricted | Restricted Fund/s |
Restricted Fund/s |
Endowed Fund/s |
Endowed Fund/s |
Total All Funds 2021 |
Total All Funds 2020 |
Notes 6 |
|---|---|---|---|---|---|---|---|---|
| General Designated Fund Funds |
||||||||
| Planned giving (excl. tax refunds) Appeals and Donations Parish Giving Scheme Gift Aid recovered Grants Other income |
£ £ 43,041 - 3,526 - 98,900 - 22,380 - - - 6,230 - |
£ - 16,421 - 104 15,000 - |
£ - - - - - - |
£ 43,041 19,947 98,900 22,484 15,000 6,230 |
£ 89,780 19,886 9,150 12,839 8,000 894 |
|||
| Donations | 174,077 - |
31,525 | - | 205,602 | 140,549 | |||
| Fees for weddings & funerals Coffee Connect income |
3,935 - - - |
- - |
- - |
3,935 - |
2,704 2,561 |
|||
| Charitable activities | 3,935 - |
- | - | 3,935 | 5,265 | |||
| Church centre hiring fees | 168 - |
- | - | 168 | 528 | |||
| Other trading activities | 168 - |
- | - | 168 | 528 | |||
| Bank & CBF deposit interest Investment gain |
43 | 1 6,181 |
44 6,181 |
333 3,345 |
||||
| Investments | 43 - |
6,182 | - | 6,225 | 3,678 | |||
| Other receipts | - - |
- | - | - | - | |||
| Total received on all funds | 178,223 - |
37,707 | - | 215,930 | 150,020 |
Page 2 of 8
Record of Payments:
Analysis of total paid:
| Unrestricted | Unrestricted | Restricted Fund/s |
Restricted Fund/s |
Endowed Fund/s |
Endowed Fund/s |
Total All Funds 2021 |
Total All Funds 2020 |
Notes 4 2,3 |
|
|---|---|---|---|---|---|---|---|---|---|
| General Designated Fund Funds |
|||||||||
| Grants cost Stewardship costs |
£ - |
£ - - |
£ - - |
£ - - |
£ - - |
£ - - |
|||
| Cost of raising funds | - | - | - | - | - | - | |||
| Charitable grants and donations Diocesan Parish Share Clergy and other people's expenses Staff salaries, tax, pensions Cost of services Church running costs Mission Love Southbourne Family & Children's work Repair & maintenance Office & General Administration Printing & photocopying Books, leaflets, pastoral Audiovisual Leaving gifts Training Coffee Connect expenses Cost of social events Governance |
4,178 69,800 1,841 10,154 25 3,686 3,557 - 52,894 3,450 1,375 777 777 - 510 705 - 60 |
- - - - - - - - 1,358 - - - - - - - - - |
- - - 22,792 - - - 3,727 - - - - 185 - - - - - |
- - - - - - - - - - - - - - - - - - |
4,178 69,800 1,841 32,946 25 3,686 3,557 3,727 54,252 3,450 1,375 777 962 - 510 705 - 60 |
4,859 68,035 898 34,206 340 5,762 709 1,709 26,439 1,589 1,633 307 1,309 159 1,017 1,649 78 66 |
|||
| Charitable costs | 153,789 | 1,358 | 26,704 | - | 181,851 | 150,765 | |||
| Fees paid to Diocese weddings & funerals Church Centre running cost Other trading costs |
2,204 5,533 |
- - - |
- - - |
- - - |
2,204 5,533 - |
1,532 6,798 |
|||
| Trading costs | 7,737 | - | - | - | 7,737 | 8,330 | |||
| Other payments | 2,205 | 2,205 | 490 | ||||||
| Total paid on all funds | 163,731 | 1,358 | 26,704 | - | 191,793 | 159,585 |
Page 3 of 8
Notes to the Annual Financial Report
- 1[These financial statements have been prepared in accordance with the Charities Act 2011 and current ] Church Accounting Regulations, using the Receipts and Payments basis.
2 Staff costs
| Staff costs | ||
|---|---|---|
| Salaries Employer National Insurance Employer pension contributions |
2021 | 2020 |
| 30,959 290 1,697 |
31,443 676 2,087 |
|
| 32,946 | 34,206 |
3 Staff costs and employee benefits
The church employs 4 staff.
None of the staff received more than £60,000 in employee benefits.
4 Trustee and related party transactions
No trustees were renumerated for their role as trustees
Rev. Matt Luff received a stipend from the Diocese as the vicar.
The trustees have together received £1,841 in expenses. All expenses were incurred by the trustees in line with the PCC's expenses policy and were directly related to the charitable activities of the PCC.
Expenses paid included purchase of COVID PPE, church maintenance supplies, books and literature for ministry purposes and vicarage broadband.
5 Church Centre Running Costs
Church Centre running costs include all utility costs with the exeption of 20% of electricity and include 50% of council tax and insurance
6 Grants
We are very grateful for grants of £10,000 from the Joseph Rank Trust and £5,000 from Deo Gloria for the support of the Family and Children's Ministry.
Page 4 of 8
Statement of funds
| Statement of funds | |||||
|---|---|---|---|---|---|
| Balances b/fwd 1 Jan 2021 |
Income | Expenditure | Transfers, other gains and losses |
Balances c/fwd 31 Dec 2021 |
|
| £ | £ | £ - |
£ | £ - |
|
| Total of all endowed funds | - | - | - | - | - |
| Timothy Fund St N Rep & Ren Fund Family & Children's Worker Fund Mark's Bench Fund |
38,587 8,150 - - |
6,183 502 29,930 1,092 |
(16,200) (185) (10,319) - |
- - - - |
28,570 8,467 19,611 1,092 |
| Total of all restricted funds | 46,737 | 37,707 | (26,704) | - | 57,740 |
| St J General Fund St N General Fund St J Quinquennial Fund |
86,393 6,793 1,358 |
170,831 7,392 - |
(160,946) (2,785) (1,358) |
- | 96,278 11,400 - |
| Total of all unrestricted funds | 94,544 | 178,223 | (165,089) | - | 107,678 |
| Total funds | 141,281 | 215,930 | (191,793) | - | 165,418 |
There are no Endowed Funds
Restricted Funds comprise
Timothy Fund which provides grants to church members working on mission projects St Nicholas Repair & Renovation Fund for the repair and renovation of St Nicholas church. Family and Children's Worker Fund for the support of the Family and Children's Workers Mark's Bench Fund which is for the purchase of another bench for the church garden
The Quinquennial Designated Fund set aside by the PCC towards the cost of St John's repairs has now been spent
Page 5 of 8
Statement of Assets and Liabilities
| Unrestricted | Unrestricted | Restricted Fund/s |
Restricted Fund/s |
Endowed Fund/s |
Endowed Fund/s |
Total All Funds 2021 |
Total All Funds 2020 |
|
|---|---|---|---|---|---|---|---|---|
| General Designated Fund Funds |
||||||||
| Assets: Bank current account CBF Deposit Fund |
£ 26,253 81,425 - |
£ - - - |
£ - |
£ - - - |
£ 26,253 113,140 - |
£ | ||
| 33,340 | ||||||||
| 31,715 | 71,897 | |||||||
| - | - | |||||||
| Total bank and deposit accounts | 107,678 | - | 31,715 | - | 139,393 | 105,237 | ||
| Shares | - - |
- - |
26,025 - |
- - |
26,025 - |
36,044 - |
||
| Investment shares market value | - | - | 26,025 | - | 26,025 | 36,044 | ||
| Total assets | 107,678 | - | 57,740 | - | 165,418 | 141,281 |
The Parochial Church Council had no liabilities outstanding.
This Financial Report for the year ended 31st December 2021 was approved by the PCC and signed on its behalf by Mr. Timothy A.E. Marsden, Churchwarden
/ signed: T.A.E. Marsden /
………………………………………………………..
Date: 8th September 2022
Amendment to financial report previously signed on 23rd March 2022
Page 6 of 8
Summary of Financial Receipts and Payments
| Unrestricted | Unrestricted | Restricted Fund/s |
Restricted Fund/s |
Endowed Fund/s |
Endowed Fund/s |
Total All Funds 2021 |
Total All Funds 2020 |
|
|---|---|---|---|---|---|---|---|---|
| General Designated Fund Funds |
||||||||
| Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Other receipts |
£ 174,077 3,935 168 43 - |
£ - - - - - |
£ 31,525 - - 6,182 - |
£ - - - - - |
£ 205,602 3,935 168 6,225 - |
£ 140,549 5,265 528 3,678 - |
||
| Total received | 178,223 | - | 37,707 | - | 215,930 | 150,020 | ||
| Expenditure on: Cost of raising funds Charitable costs Trading costs Other payments |
- 153,789 7,737 2,205 |
- 1,358 - - |
- 26,704 - - |
- - - - |
- - 181,850 7,737 2,205 |
- 150,765 8,330 490 |
||
| Total paid | 163,731 | 1,358 | 26,704 | - | 191,793 | 159,585 | ||
| Reconciliation of funds: | ||||||||
| Net income or (net expenditure) | 14,492 (1,358) |
11,003 | - | 24,137 | (9,565) | |||
| Transfers between funds Net movement in funds Bank accounts at 1 January |
- - |
- | - | - | - | |||
| 14,492 (1,358) 93,186 1,358 |
11,003 46,737 |
- - |
24,137 141,281 |
(9,565) 150,846 |
||||
| Bank accounts at 31 December | 107,678 - |
57,740 | - | 165,418 | 141,281 |
Page 7 of 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SOUTHBOURNE WITH WEST THORNEY, CHARITY NO. 1130876
I have examined the accounts for the year ended 31[st] December 2021 on pages 1 to 8 which have been prepared on the basis of the accounting policies set out on page 4.
Respective Responsibilities of Directors/Trustees and Examiner
The trustees of the charity are responsible for the preparation of accounts; they consider that the audit requirements under section 144 of the Charities Act 2011 do not apply but that an independent examination is needed. I have been appointed to conduct an Independent Examination required by section 145 of the Charities Act 2011 and to report in accordance with the regulations made under section 145 of that Act. It is my responsibility to examine the accounts, without performing an audit, and to report to the trustees.
Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:
-
(1) examine the accounts under section 145 of the Charities Act 2011;
-
(2) follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011; and
-
(3) state whether particular matters have come to my attention.
Basis of Examiner's Statement
This report is in respect of an examination carried out under section 145 of the Charities Act 2011, and in accordance with the general directions given by the Charity Commissioners. 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 a review of the accounts and making such enquiries as are necessary for the purpose of this report. 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 Examiner's Statement
Based on my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect, accounting records have not been kept in accordance with section 130 of the Charities Act 2011, or that the accounts presented do not accord with those records, or comply with the accounting requirements of the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view, which is not a matter considered as part of an independent examination.
No matter has come to my notice in connection with my examination to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts.
/ signed: Eric J. Thompson /
Mr. Eric J. Thompson 12 Kingsey Avenue Emsworth Hampshire PO10 7HP
24[th] August 2022
Page 8 of 8