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|**Index**|**Page**|
|---|---|
|AnnuaIReportfor2021|1 - 10|
|Trustees responsibilities of the PCC|11|
|Responsibilities of the independent examiners and||
|The independent examiners report to the PCC|12|
|Statement of Financial Activities (SOFA)|13 - 14|
|Balance Sheet|15|
|Statement of cash flows|16|
|Notes to the financial statements|17 - 36|
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|**Unrestricted Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**general designated**
**2021**
**2021**
**2021**
**2021**
**Notes**
£
£
£
£
Income from:
Donations and legacies
**3**
264,564
11,255
13,606
Charitable Activities
Church Activities
**4**
10,722
724
3,971
Nursery
**4**
405,910
Other trading activities
**5**
170
Investments
6
10,346
1,272
607
894
Total income and endowments
285,802
419,161
18,184
894
Exg:enditure on:
Charitable activities
7
338,235
407,247
15,677
Net gains/(losses) on
investments
**12**
3,978
4,535
1,702
2,396
**Net (outgoing)/incoming**
**resources before transfers**
(48,455)
16,449
4,209
3,290|**Total Unrestricted Unrestricted**
**Restricted Endowment**
**Total**
**funds**
**funds**
**funds**
**funds**
**general designated**
**2021**
**2020**
**2020**
**2020**
**2020**
**2020**
£
£
£
£
£
£
289,425
293,370
9,569
25,551
328,490
15,417
7,943
3,298
11,241
405,910
401,537
401,537
170
925
925
13,119
1,661
1,258
1,526
940
5,385
724,041
302,974
412,364
31,300
940
747,578
761,159
353,648
366,491
194,159
914,298
12,611
1,200
3,873
385
1,736
7,194
(24,507)
(49,474)
49,746
(162,474)
2,676
(159,526)|
|---|---|
##
##
|**Unrestricted Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**general designated**
**2021**
**2021**
**2021**
**2021**
**Notes**
£
£
£
£
**Net (outgoing)/incoming**
**resources before transfers**
(48,455)
16,449
4,209
3,290
Gross transfers between
funds
16,168
(23,687)
8,413
(894)
**Net movement in funds**
(32,287)
(7,238)
12,622
2,396
Fund balances at 1 January
2021
32,287
653,366
345,149
31,811
**Fund balances at 31**
**December 2021**
646,128
357,771
34,207|**Total Unrestricted Unrestricted**
**Restricted Endowment**
**Total**
**funds**
**funds**
**funds**
**funds**
**general designated**
**2021**
**2020**
**2020**
**2020**
**2020**
**2020**
£
£
£
£
£
£
(24,507)
(49,474)
49,746
(162,474)
2,676
(159,526)
15,053
(16,879)
2,766
(940)
(24,507)
(34,421)
32,867
(159,708)
1,736
(159,526)
1,062,613
66,708
620,499
504,857
30,075
1,222,139
1,038,106
32,287
653,366
345,149
31,811
1,062,613|
|---|---|
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|**Notes**
**Fixed assets**
Tangible assets
**13**
Investments
**14**
**Current assets**
Stocks
**15**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
Taxation and social security
Other creditors
**17**
Deferred income
**18**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
**19**
**Income funds**
Restricted funds
**20**
Unrestricted funds - designated
Unrestricted funds - general|**2021**
£
£
759,340
96,493
855,833
271
5,709
188,417
194,397
3,845
7,809
470
12,124
182,273
1,038,106
34,207
357,771
646,128
1,038,106|**2021**
£
£
759,340
96,493
855,833
271
5,709
188,417
194,397
3,845
7,809
470
12,124
182,273
1,038,106
34,207
357,771
646,128
1,038,106|£
415
22,246
147,746
170,407
4,180
7,328
22
11,530
**2020**
£
768,630
135,106
903,736
158,877
1,062,613
31,811
345,149
653,366
32,287
1,062,613|£
415
22,246
147,746
170,407
4,180
7,328
22
11,530
**2020**
£
768,630
135,106
903,736
158,877
1,062,613
31,811
345,149
653,366
32,287
1,062,613|£
415
22,246
147,746
170,407
4,180
7,328
22
11,530
**2020**
£
768,630
135,106
903,736
158,877
1,062,613
31,811
345,149
653,366
32,287
1,062,613|
|---|---|---|---|---|---|
||||||903,736
158,877
1,062,613
31,811
345,149
653,366
32,287
1,062,613|
|||||||
|||||||
##
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##
|**Notes**
**Cash flows from operating activities**
Cash absorbed by operations
**24**
**Investing activities**
Proceeds on disposal of investments
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
**Net increase/(decrease) in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|£
**2021**
51,224
13,119|£
(23,672)
64,343
40,671
147,746
188,417|£
87,526
5,385
**2020**
£
(175,841)
92,911
(82,930)
230,676
147,746|
|---|---|---|---|
##
##
##
##
##
##
##
##
##
##
##
##
##
|Freehold land and buildings|Nil|
|---|---|
|Fixtures and fittings|25% straight line or reducing balance|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Donations and gifts
Legacies receivable
**Grants receivable**
**Grants receivable for core activities**
Listed Places of Worship Grant Scheme
CJRS grant
Portsmouth Diocesan Board of Finance
All Churches Trust
Hampshire and Isle of Wight Community Fund|**Unrestricted Unrestricted**
**Restricted**
**Total**Unrestricted Unrestricted
Restricted
Total
**funds**
**funds**
**funds**
funds
funds
funds
**general**
**designated**
general
designated
**2021**
**2021**
**2021**
**2021**
2020
2020
2020
2020
£
£
£
£
£
£
£
£
259,484
4,400
1,991
265,875
255,319
19,551
274,870
15,250
15,250
5,080
6,855
11,615
23,550
22,801
9,569
6,000
38,370
264,564
11,255
13,606
289,425
293,370
9,569
25,551
328,490
11,615
11,615
5,080
6,855
11,935
3,251
9,569
12,820
18,550
18,550
6,000
6,000
1,000
1,000
5,080
6,855
11,615
23,550
22,801
9,569
6,000
38,370|**Unrestricted Unrestricted**
**Restricted**
**Total**Unrestricted Unrestricted
Restricted
Total
**funds**
**funds**
**funds**
funds
funds
funds
**general**
**designated**
general
designated
**2021**
**2021**
**2021**
**2021**
2020
2020
2020
2020
£
£
£
£
£
£
£
£
259,484
4,400
1,991
265,875
255,319
19,551
274,870
15,250
15,250
5,080
6,855
11,615
23,550
22,801
9,569
6,000
38,370
264,564
11,255
13,606
289,425
293,370
9,569
25,551
328,490
11,615
11,615
5,080
6,855
11,935
3,251
9,569
12,820
18,550
18,550
6,000
6,000
1,000
1,000
5,080
6,855
11,615
23,550
22,801
9,569
6,000
38,370|
|---|---|---|
|||5,080|
##
##
|Church Activities
Nursery funding and
fees
Ancillary trading
**income**
Other income
Analysis by fund
Unrestricted funds -
general
Unrestricted funds -
designated
Restricted funds||**Church**
**Activities**
2021
E
9,555
4,456
1,406
15,417|**Nursery**
2021
E
404,821
1,089
405,910|**Total**
2021
E
9,555
404,821
4,456
2,495
421,327|**Church**
**Activities**
2020
E
2,233
4,171
4,837
11,241|**Nursery**
2020
E
389,108
12,429
401,537|**Total**
2020
E
2,233
389,108
4,171
17,266
412,778
7,943
401,537
3,298
412,778|
|---|---|---|---|---|---|---|---|
|||10,722
724
3,971
15,417|405,910
405,910|10,722
406,634
3,971
421,327|7,943
3,298
11,241|401,537
401,537||
##
||**Unrestricted**|Restricted|
|---|---|---|
||**funds**|funds|
||**general**||
||**2021**|2020|
||£|£|
|Fundraising events|170|925|
##
##
##
|**Investments**|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||**Unrestricted**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|Unrestricted|Unrestricted|Restricted|Endowment|Total|
||**funds**|
**funds**|**funds**|**funds**||funds|funds|funds|funds||
||**general**
**2021**|**designated**
**2021**|**2021**|**2021**|**2021**|general
2020|designated
2020|2020|2020|2020|
||£|
£|£|
£|£|£|£|£|£|£|
|Rental income|10,128||||10,128||||||
|Income from unlisted
investments
Interest receivable|152
66|
1,267
5|607|
624
270|2,650
341|1,284
377|1,240
18|1,184
342|603
337|4,311
1,074|
||10,346|
1,272|607|
894|13,119|1,661|1,258|1,526|940|5,385|
||--|--|--|--|--|--|--|--|--|--|
##
##
|Staff costs
Depreciation and
impairment
Church overseas
Home mission, appeals
and other grants
Parish quota and clergy
costs
Church building
92 Marmion Road
Mission and support
Events
Church management and
administration
Nursery premises costs
Educational equipment
and support
Other nursery costs
Share of governance costs
(see note 8)
**Analysis by fund**
Unrestricted funds -
general
Unrestricted funds -
designated
Restricted funds|**Church**
**Activities**
**2021**
£
123,627
6,903
23,291
6,309
138,018
30,803
9,257
19,921
5,217
14,118
377,464
4,431
381,895|**Church**
**Activities**
**2021**
£
123,627
6,903
23,291
6,309
138,018
30,803
9,257
19,921
5,217
14,118
377,464
4,431
381,895|**Nursery**
**2021**
£
311,195
2,387
31,781
15,614
15,056
376,033
3,231
379,264|**Total**
**Church**
**2021**
**Activities**
**2020**
£
£
434,822
140,601
9,290
6,903
23,291
15,248
6,309
4,202
138,018
140,062
30,803
151,761
9,257
1,537
19,921
70,136
5,217
1,275
14,118
12,596
31,781
15,614
15,056
753,497
544,321
7,662
3,486
761,159
547,807|**Total**
**Church**
**2021**
**Activities**
**2020**
£
£
434,822
140,601
9,290
6,903
23,291
15,248
6,309
4,202
138,018
140,062
30,803
151,761
9,257
1,537
19,921
70,136
5,217
1,275
14,118
12,596
31,781
15,614
15,056
753,497
544,321
7,662
3,486
761,159
547,807|**Nursery**
**2020**
£
321,402
3,139
13,231
11,781
13,472
363,025
3,466
366,491|**Total**
**2020**
£
462,003
10,042
15,248
4,202
140,062
151,761
1,537
70,136
1,275
12,596
13,231
11,781
13,472
907,346
6,952
914,298
353,648
366,491
194,159
914,298|
|---|---|---|---|---|---|---|---|
|||338,235
27,983
15,677
381,895|379,264
379,264|338,235
407,247
15,677
761,159|353,648
194,159
547,807|366,491
366,491||
##
|**8**|**Support costs**|||||||
|---|---|---|---|---|---|---|---|
|||**Support**|**Governance**|**2021**|Support|Governance|2020|
|||**costs**|
**costs**||costs|costs||
|||£|
£|£|£|£|£|
||Accountancy and|||||||
||Independent|||||||
||Examination fees||7,662|7,662||6,952|6,952|
||||7,662|7,662||6,952|6,952|
||Analysed between|||||||
||Charitable activities||7,662|7,662||6,952|6,952|
##
|**Net movement in funds**|**2021**|**2020**|
|---|---|---|
||£|£|
|Net movement in funds is stated after charging/(crediting)|||
|Depreciation of owned tangible fixed assets|9,290|10,042|
||--|--|
##
##
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Church|8|8|
|Nursery|25|27|
|Total|33|35|
##
|**11**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2021**
£
412,121
16,842
5,859
434,822
**(Continued)**
**2020**
£
438,404
17,471
6,128
462,003|
|---|---|
##
##
##
||**Unrestricted**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|Unrestricted|Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||**funds**|
**funds**|**funds**|**funds**||funds|funds|funds|funds||
||**general**|**designated**||||general|designated||||
||**2021**|
**2021**|**2021**|
**2021**|**2021**|2020|2020|2020|2020|2020|
||£|
£|£|£|£|£|£|£|£|£|
|Revaluation of investments|
3,646|
3,184|1,536|2,396|10,762|1,362|3,873|116|1,736|7,087|
|Gain/(loss) on sale of|||||||||||
|investments|332|
1,351|166||1,849|(162)||269||107|
||3,978|
4,535|1,702|2,396|12,611|1,200|3,873|385|1,736|7,194|
||--|--|--|--|--|--|--|--|--|--|
##
|**13**
**Tangible fixed assets**
**Freehold land**
**and buildings**
£
**Cost**
At 1 January 2021
746,509
At 31 December 2021
746,509
**Depreciation and impairment**
At 1 January 2021
Depreciation charged in the year
At 31 December 2021
**Carrying amount**
At 31 December 2021
746,509
At 31 December 2020
746,509|**Fixtures and**
**fittings**
£
127,618
127,618
105,497
9,290
114,787
12,831|**Fixtures and**
**fittings**
£
127,618
127,618
105,497
9,290
114,787
12,831|**Total**
£
874,127
874,127
105,497
9,290
114,787
759,340
768,630|
|---|---|---|---|
|||22,121||
##
##
||||**Unlisted**|
|---|---|---|---|
||||**investments**-|
||||**The CBF**|
||||**Church of**|
|||**England Funds**||
||||£|
||**Cost or valuation**|||
||At 1 January 2021||135,106|
||Valuation changes||10,762|
||Disposals||(49,375)|
||At 31 December 2021||96,493|
||**Carrying amount**|||
||At 31 December 2021||96,493|
||At 31 December 2020||135,106|
|**15**|**Stocks**|||
|||**2021**|
**2020**|
|||£|£|
||Raw materials and consumables|271|415|
|**16**|**Debtors**|||
|||**2021**|
**2020**|
||**Amounts falling due within one year:**|£|£|
||Other debtors|3,954|8,621|
||Prepayments and accrued income|1,755|13,625|
|||5,709|22,246|
|**17**|**Other creditors falling due within one year**|||
|||**2021**|
**2020**|
|||£|£|
||Other creditors|395|296|
||Accruals and deferred income|7,414|7,032|
|||7,809|7,328|
##
##
##
|**Deferred income**|||
|---|---|---|
||**2021**|**2020**|
||£|£|
|Nursery funding and fees received in advance|470|22|
##
##
##
||||**Movement in funds**|**Movement in funds**||||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Revaluations**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Revaluations**|**Balance at**|
||**1January2020**|**resources**|**expended**||**gains and1**|**January 2021**|**resources**|**expended**||**gains and**|**31 December**|
||||||**losses**|||||**losses**|2021|
||£|£|£|£|£|£|£|£|£|£|£|
|**Permanent**|**endowments**|||||||||||
|Hornby||||||||||||
|Endowment||||||||||||
|Fund|30,075|940||(940)|
1,736|31,811|894||(894)|
2,396|34,207|
||30,075|940||(940)|
1,736|31,811|894||(894)|
2,396|34,207|
##
##
##
|Balance at
1January2020
£
92 Marmion
Road
310,000
Church
Redevelopment
128,417
Intern Fund (Gift
Day 2011)
8,275
Mission
Development
310
Youth
4,755
Mission Gift Day
1,345
Hornby
3,812
St Margaret's
Church Plant
42,853
St Margaret's
Restricted Use
1,604
Open Churches
Project
360
Other funds
3,126
Friday Fridge
504,857|**Movement in funds**
**Movement in funds**
Incoming
Resources
Transfers
Revaluations,
Balance at
Incoming
Resources
Transfers
Revaluations,
Balance at
resources
expended
gains and1 January 2021
resources
expended
gains and
31 December
losses
losses
**2021**
£
£
£
£
£
£
£
£
£
£
310,000
310,000
4,487
(114,794)
385
18,495
13,667
7,401
1,619
41,182
283
(2,332)
6,226
38
(5,559)
829
83
1,617
165
475
77
(552)
11,038
(14,284)
1,509
49
(372)
1,186
100
1,445
(500)
945
940
4,752
(3,686)
894
1,960
14,887
(57,740)
(1,604)
360
(360)
340
(3,405)
1,826
1,887
(1,176)
(711)
4,353
(3,472)
881
31,300
(194,159)
2,766
385
345,149
18,184
(15,677)
8,413
1,702
357,771|
|---|---|
##
##
##
##
##
##
##
|||||**Movement in funds**|**Movement in funds**||||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||**Balance at**||**Incoming**|**Resources**|**Transfers**|**Revaluations,**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Revaluations,**|**Balance at**|
||**1January2020**||**resources**|**expended**||**gains and1**|**January 2021**|**resources**|**expended**||**gains and**|**31 December**|
|||||||**losses**|||||**losses**|**2021**|
|||£|£|£|£|£|£|£|£|£|£|£|
|Nursery|518,421||412,364|(366,491)|(39,000)|
3,873|529,167|414,036|(379,264)|(40,031)|
4,535|528,443|
|Fixed Asset Fund|||||22,121||22,121|||(9,289)||12,832|
|**Decoration**|||||||||||||
|**Reserve**||2,078|||||2,078||(714)|1,000||2,364|
|Contingency|||||||||||||
|**Reserve**|100,000||||||100,000|||(3,875)||96,125|
|**Mission**|||||||||||||
|Discretionary|||||||||(27,264)|28,508||1,244|
|Vicars&|||||||||||||
|Wardens 2021|||||||||||||
|Fund||||||||4,400||||4,400|
|Monday|||||||||||||
|Fellowship||||||||725|(5)|||720|
||620,499||412,364|(366,491)|(16,879)|
3,873|653,366|419,161|(407,247)|(23,687)|
4,535|646,128|
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##
##
##
##
##
|**22**
**Analysis of net assets between funds**
**Unrestricted Designated**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**2021**
**2021**
**2021**
**2021**
£
£
£
£
Fund balances at 31
December 2021 are
represented by:
Tangible assets
449,340
310,000
Investments
24,526
25,453
12,307
34,207
Current assets/(liabili!ies)
(24,526)
171,335
35,464
646,128
357,771
34,207|**Total**Unrestricted
Designated
Restricted Endowment
Total
funds
funds
funds
funds
**2021**
2020
2020
2020
2020
2020
£
£
£
£
£
£
759,340
458,630
310,000
768,630
96,493
21,152
60,797
21,346
31,811
135,106
182,273
11,135
133,939
13,803
158,877
1,038,106
32,287
653,366
345,149
31,811
1,062,613|
|---|---|
##
##
|**Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
Aggregate compensation
**24**
**Cash generated from operations**
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
Gain on disposal of investments
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
Decrease/(increase) in debtors
lncrease/(decrease) in creditors
lncrease/(decrease) in deferred income
**Cash absorbed by operations**|**2021**
£
50,572
**2021**
£
(24,507)
(13,119)
(1,849)
(10,762)
9,290
144
16,537
146
448
(23,672)|**2020**
£
61,124
**2020**
£
(159,526)
(5,385)
(107)
(7,087)
10,042
(17)
(11,489)
(302)
(1,970)
(175,841)|
|---|---|---|
|**25**|**Analysis of changes in net funds**|
|---|---|
||The PCC of St Jude had no debt during the year.|