#
##
##
## **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