Registered Charity number: 1132146
Parochial Church Council of St Mary, Old Swinford
Trustees’ Report and Financial Statements
31 December 2021
Parochial Church Council of St Mary, Old Swinford
Financial Statements
for the year ended 31 December 2021
| Contents | Pages |
|---|---|
| Trustees’ Annual Report | 1 - 5 |
| Independent Examiner’s Report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 - 17 |
Parochial Church Council of St Mary, Old Swinford
Trustees’ Annual Report for the year ended 31 December 2021
The Parochial Church Council presents its report and the accounts for the year ended 31 December 2021.
Reference and Administrative Information
The Parochial Church Council has delegated routine matters to a standing Committee which consists of the Rector, both Church Wardens, Secretary, Treasurer and Chair of the Resources Committee.
It is registered with the Charity Commission under reference number 1132146.
The Parochial Church Council of St Mary, Old Swinford is also known as PCC.
Principal Address
The main address for contact is:-
Old Swinford Rectory Rectory Road Stourbridge West Midlands DY8 2HA
Trustees
The Trustees at 31 December 2021 were:-
Judith Hall Susan Elizabeth Wakeley Katharine Fletcher Michael Thomas Blaxland Pamela Jean Scudamore Malcolm Walter Frost Antony Walter Tatford Marjorie Ferguson Anthony Lloyd Les Timms Stanley Ernest Williams Christine McCullagh Drew Owen Roger Myrry King Elaine Buchan Revd. Jonathan Frederick Flitcroft
Revd. Jonathan Frederick Flitcroft was the Chair of the Charity.
Page 1
Parochial Church Council of St Mary, Old Swinford
Trustees’ Annual Report
for the year ended 31 December 2021
- continued –
Structure Governance and Management
The PCC has been formed under the Parochial Church Council Powers Measure (1956) as amended and Church representation rules.
The Trustees are elected at the AGM by members present. Their appointment is recorded in the minutes of the meeting and no signatures of acceptance are required. The Council has power to co-opt other members.
Objectives and Activities
Our principal objective is to follow Christ through worship, outreach and mission.
Whilst undertaking the above mentioned activities, the Trustees had due regard to guidance published by the Charity Commission on public benefit issues.
Achievement and Performance
This has been another challenging year in the life of St Mary’s as it has in the life of our nation and the world. There are, however, many positive and encouraging signs that, as the restrictions and disruptions due to the pandemic are lessening, God is building on foundations long established here in Old Swinford.
We began the year with the third national lockdown and the difficult decision to close the Church for public worship, a decision the government left open to individual Churches. We continued to offer live streaming of services from the building and re-opened on 11 March. Our use of technology has been a great, unexpected benefit from the pandemic and it has continued to enable the virtual attendance of many who might not otherwise have been able to worship. Our thanks to John Sutton and the Zoom team for their work in maintaining this service. We may need to decide about investing in improved technology to sustain this capability (although one of the ‘tech team’ has recently, and very generously, donated a newer laptop to help us in this).
In August John retired as Parish Administrator and he and Angie moved away from the area; we were able to say a huge ‘Thank you’ to John and a fond ‘farewell’ to them both. We have been blessed by the work of Emma Boex who replaced John in July and continues to grow and flourish in her new role.
Since recommencing baptisms in July we welcomed 18 children in 2021 and we were delighted that 6 candidates were confirmed by Bishop Martin in December. Weddings were also held again although, with many restrictions still in place for much of 2021, only 6 were conducted at St Mary’s in the year. Our Funeral Ministry has continued to be a very significant aspect of our work and last year we hosted 12 funerals in Church and conducted 8 crematorium-only services. These are all very important aspects of St Mary’s mission which allow for significant connections within our community.
We were also able to welcome the return of Evensong and Choral Evensong in September - a very welcome return indeed. From the evidence of these services, (and many other occasions such as All Souls Thanksgiving, Advent and Christmas Carols), it is clear that, under James’ leadership, the choir goes from strength to strength.
In July the PCC approved a new monthly pattern of services which includes a new family service at 4 o’clock on the first Sunday of the month. This began in November and we have been delighted by the enthusiasm and joy shown by families who have come to join us. The ‘4 o’clock Church Team’ already feels wellestablished and we are beginning to discover the character and potential of this new service. In the months to come, our re-engagement with children, families and younger people will continue to be a key focus for St Mary’s mission.
Page 2
Parochial Church Council of St Mary, Old Swinford
Trustees’ Annual Report for the year ended 31 December 2021
- continued –
Achievement and Performance ….. /continued
Prayer remains at the heart of our mission and prayer and reflection groups, both online and in-person, have been a repeated presence this year.
I would like to pay tribute to the work of all the teams and especially to the extremely dedicated, hard work of our Churchwardens, Judy Hall and Roger King. At the APCM this year Roger is stepping down as Churchwarden; we thank him very deeply for fulfilling this important role so generously during such a difficult period.
Once again, teams at St Mary’s have shown how good it is when, unified by the Holy Spirit and fixing our gaze on Christ, we walk together in God’s ways. It is our prayer that we continue to look for ways to serve God’s mission in this place and in the light of new challenges and opportunities ahead.
Page 3
Parochial Church Council of St Mary, Old Swinford
Trustees’ Annual Report for the year ended 31 December 2021
- continued –
Financial Review
The accounts record a small operating surplus for the year of £979. Whilst total income and expenditure are marginally above the figures for 2020, both are approximately 12% down from the pre-pandemic figures for 2019.
Total income from all donors, including bankers order payments, envelopes, plate collections, sundry receipts and substantial donations, both specific and general is very similar to that received in 2020. I wish to record my thanks to each and every donor who continues to support St Mary’s so generously. A further £5,016 was received from the Government under the Furlough Scheme until withdrawal at the end of August.
Almost £15,000 has been spent on works to the North Porch, the flooring of the Church Hall and unplanned work on the trees in the graveyard area. All of this in part explains why our payment of Parish Share to the Diocese was £63,000, lower than we would have liked. This against an expected annual payment of £91,289. The shortfall in payment has not been included in these accounts.
From the beginning of November, bank charges were introduced for account administration and for all the transactions over the counter. Such charges are applicable to other accounts that St Mary’s has with the bank. A review is taking place to minimise these charges.
The Mission and Pastoral Committee have made charitable contributions to many worthwhile causes both overseas and closer to home. Additionally, donations have been made to the Black Country Food Bank in Brierley Hill.
A review was conducted of the investments held on behalf of St Mary’s and managed by the Diocese of Worcester and the Church Charities Commission. These are investments that have been held for many years. They continue to provide regular income throughout the year and steady growth with relatively low risk. The PCC unanimously agreed to continue with these investments.
Whilst we face many challenges financially in the months and years to come, I firmly believe these healthy set of accounts reflect all the continued support, energy and hard work put in by our church community.
Reserves Policy
The Trustees consider that the funds within the Charity should be at a level to cover operational costs for at least 3 months.
The reserves are needed to bridge the trading gap between spending on the Charity’s overheads and the receipt of new funds.
The reserves include cash at bank. The Trustees monitor the cash levels on a regular basis.
Worcester Diocese
The Church is required to contribute towards central costs (which include clergy stipends and pensions).
During the year, the Charity incurred the following:
| he year, the Charity incurred the following: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Parish share | 63,000 | 75,000 |
| Wedding and other fees earned by | ||
| the clergy | 6,217 | 5,231 |
| _ | _ | |
| 69,217 | 80,231 | |
| ====== | ====== |
Page 4
Parochial Church Council of St Mary, Old Swinford
Trustees’ Annual Report
for the year ended 31 December 2021
- continued –
Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP 2019 (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees on 3 April 2022 and signed by:
………………….................................
Revd. Jonathan Frederick Flitcroft (Chairman)
Page 5
Independent Examiner’s Report to the Trustees of Parochial Church Council of St Mary, Old Swinford
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2021 which are set out on pages 7 to 17.
Responsibilities and basis of report
As the Charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material aspect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr D I Hotchkiss Chartered Accountant
Brook House Moss Grove Kingswinford West Midlands DY6 9HS
3 April 2022
Page 6
Parochial Church Council of St Mary, Old Swinford
Statement of Financial Activities
for the year ended 31 December 2021
| Unrestricted | Restricted | TOTAL | FUNDS | ||
|---|---|---|---|---|---|
| Notes | Funds | Funds | 2021 | 2020 | |
| £ | £ | £ | £ | ||
| Incoming Resources | |||||
| Incoming resources from | |||||
| donors | 2a | 79,237 | - | 79,237 | 84,414 |
| Other voluntary incoming | |||||
| resources | 2b | 23,308 | - | 23,308 | 16,462 |
| Income from operating activities | |||||
| - to further the Council’s objectives | 2c | 13,311 | - | 13,311 | 15,148 |
| - to generate funds | 2d | 17,747 | - | 17,737 | 14,455 |
| Income from investments | 2e | 10,004 | - | 10,004 | 9,345 |
| Other income | 2f | 2,402 | - | 2,402 | 368 |
| _ | _ | _ | _ | ||
| Total incoming resources | 146,009 | - | 146,009 | 140,192 | |
| _ | _ | _ | _ | ||
| Resources Expended | |||||
| Grants | 3a | 6,438 | - | 6,438 | 7,927 |
| Activities directly relating to | |||||
| work of Church | 3b | 104,401 | - | 104,401 | 104,237 |
| Church management and | |||||
| administration | 3c | 18,760 | - | 18,760 | 18,550 |
| Cost of generating fund | 3d | 15,431 | - | 15,431 | 12,491 |
| _ | _ | _ | _ | ||
| Total resources expended | 145,030 | - | 145,030 | 143,205 | |
| _ | _ | _ | _ | ||
| Net incoming resources | 979 | - | 979 | (3,013) | |
| Transfers between funds | - | - | - | - | |
| _ | _ | _ | _ | ||
| Net movement in funds | 979 | - | 979 |
(3,013) | |
| Total funds brought forward | 122,352 | 61,214 | 183,566 | 186,579 | |
| _ | _ | _ | _ | ||
| Total funds carried forward | 123,331 | 61,214 | 184,545 | 183,566 | |
| ======= | ======= | ======= | ======= |
Page 7
Parochial Church Council of St Mary, Old Swinford
Balance Sheet at 31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed assets | |||
| Investment assets | 5 | 58,903 | 58,903 |
| _ | ______ | ||
| Current assets | |||
| Debtors | 7 | 3,526 | 8,852 |
| Cash at bank and in hand | 122,011 | 127,069 | |
| Investment assets at cost | 9,446 | 9,446 | |
| (market value £31,436) | _ | _ | |
| 134,983 | 145,367 | ||
| _ | _ | ||
| Liabilities (amounts falling due | |||
| within one year) | 8 | (9,341) | (20,704) |
| _ | _ | ||
| Net current assets | 125,642 | 124,663 | |
| _ | _ | ||
| Net assets | 6 | 184,545 | 183,566 |
| ====== | ====== | ||
| Funds | |||
| Unrestricted | 9 | 123,331 | 122,352 |
| Restricted | 10 | 61,214 | 61,214 |
| _ | _ | ||
| 184,545 | 183,566 | ||
| ====== | ====== |
The financial statements on pages 7 to 17 were approved by the Trustees on 3 April 2022 and signed on its behalf by:-
………………………………………….
Revd. Jonathan Frederick Flitcroft (Chairman)
Page 8
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements for the year ended 31 December 2021
1. Accounting Policies
The Parochial Church Council of St Mary, Oldswinford is a registered Charity in the United Kingdom. The principal contact address is given in the Charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities are outlined on page 2 of these financial statements.
The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Basis of Accounting
The accounts have been prepared on an accruals basis. The financial statements are prepared in sterling, which is the function currency of the entity.
Statement of compliance
The Charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
Funds
General funds represent the funds of the Charity that are not subject to any restrictions regarding their use and are available for application on the general purpose of the Charity. Funds designated for a particular purpose by the Charity are also unrestricted.
Restricted funds are to be used for specific purposes as designated by the Trustees and as laid down by the donor.
The accounts include all transactions, assets and liabilities for which the Charity 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 Charity. Planned giving is recognised only when received. Income tax recoverable on gift aid donations is recognised when the income is received. Grants and legacies to the Charity are accounted for upon receipt, the amount due is quantifiable and its ultimate receipt by the Charity is reasonably certain.
Funds raised by the fayre, garden party and similar events are accounted for gross. Sales of books and magazines from the Church bookstall are accounted for gross.
Page 9
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements for the year ended 31 December 2021
1. Accounting Policies (continued)
Other income
Rental income from the letting of church premises is recognised when the rental is due.
Income from investments
Dividends and interest are accounted for when due and payable.
Gains and losses on investments
Realised gains or losses are recognised when investments are sold.
Resources Expended
Grants
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation to the Charity.
Activities directly relating to the work of the Church
The diocesan and parish share is accounted for when paid.
Fixed Assets
VAT reclaimable
Where VAT is reclaimable on any eligible expenditure, the amount reclaimed is netted against the cost of the expenditure.
Consecrated land and buildings, and movable church furnishings
Consecrated and beneficed property is excluded from the accounts by the Charities Act 2011.
No value is placed on movable church furnishings held by the church wardens on special trust for the Charity and which require a faculty for disposal, since the Charity 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 fixed assets
Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.
Investments
Investments are valued at historical cost at 31 December 2021.
Current assets
Amounts owing to the Charity at 31 December 2021 in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.
Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
Page 10
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements for the year ended 31 December 2021
1. Accounting Policies (continued)
Current liabilities
Amounts payable within one year are recorded at transaction price and are shown as accrued charges.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value with any changes recognised in profit or loss with the exception of hedging instruments in a designated hedging relationship.
Page 11
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements
for the year ended 31 December 2021
| Unrestricted | Restricted | TOTAL | FUNDS | ||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| 2. | Incoming Resources | £ | £ | £ | £ |
| 2a. | Incoming resources from donors | ||||
| Planned giving: | |||||
| Donations by Gift Aid | 10,138 | - | 10,138 | 16,636 | |
| Income tax recoverable | 15,215 | - | 15,215 | 15,365 | |
| Other planned giving | 49,125 | - | 49,125 | 48,040 | |
| Collections (open plate) at all services | 4,759 | - | 4,759 | 4,373 | |
| _ | _ | _ | _ | ||
| 79,237 | - | 79,237 | 84,414 | ||
| _ | _ | _ | _ | ||
| 2b. | Other voluntary incoming resources | ||||
| Donations, appeals, etc. | 9,339 | - | 9,339 | 6,120 | |
| Legacies | 1,000 | - | 1,000 | - | |
| Churchyard | - | - | - | - | |
| Donations received for specific purposes | 7,953 | - | 7,953 | 5,134 | |
| HMRC furlough grants | 5,016 | - | 5,016 | 5,208 | |
| _ | _ | _ | _ | ||
| 23,308 | - | 23,308 | 16,462 | ||
| _ | _ | _ | _ | ||
| 2c. | Income from operating activities: | ||||
| to further the Council’s objects | |||||
| Magazine & bookstall | 55 | - | 55 | 25 | |
| Fees | 13,144 | - | 13,144 | 14,757 | |
| Candle rack | 83 | - | 83 | 37 | |
| Work with children | 29 | - | 29 | - | |
| Social committee and coffee | - | - | - | 329 | |
| _ | _ | _ | _ | ||
| 13,311 | - | 13,311 | 15,148 | ||
| _ | _ | _ | _ | ||
| 2d. | Income from operating activities: | ||||
| to generate funds | |||||
| Magazines (advertisement fees) | 315 | - | 315 | 75 | |
| Use of church | 4,540 | - | 4,540 | 4,625 | |
| Christmas market | - | - | - | - | |
| Photocopying | - | - | - | - | |
| Hall lettings | 12,892 | - | 12,892 | 9,755 | |
| _ | _ | _ | _ | ||
| 17,747 | - | 17,747 | 14,455 | ||
| _ | _ | _ | _ | ||
| 2e. | Income from investments | ||||
| Dividends and interest including any | |||||
| reclaimable tax | 4,471 | - | 4,471 | 4,301 | |
| Church Hall flat rent | 5,533 | - | 5,533 | 5,044 | |
| _ | _ | _ | _ | ||
| 10,004 | - | 10,004 | 9,345 | ||
| _ | _ | _ | _ | ||
| 2f. | Other income | ||||
| VAT reclaim on repairs | 2,402 | - | 2,402 | 368 | |
| _ | _ | _ | _ | ||
| 2,402 | - | 2,402 | 368 | ||
| _ | _ | _ | _ | ||
| Total incoming resources | 146,009 | - | 146,009 | 140,192 | |
| ====== | ====== | ====== | ====== |
Page 12
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements for the year ended 31 December 2021
| Unrestricted | Restricted | TOTAL | FUNDS | ||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| 3. | Resources Expended | £ | £ | £ | £ |
| 3a. | Grants | ||||
| Missionary and charitable giving | 6,438 | - | 6,438 | 7,927 | |
| ______ | _ | _ | ______ | ||
| 3b. | Activities directly relating to the work | ||||
| of the Church | |||||
| Ministry: Diocesan parish share |
63,000 | - | 63,000 | 75,000 | |
| Clergy expenses | - | - | - | 62 | |
| Running expenses | 12,553 | - | 12,553 | 13,563 | |
| Repairs and maintenance | 13,214 | - | 13,214 | 3,352 | |
| Upkeep of Churchyard | 5,129 | - | 5,129 | 2,524 | |
| Organist fees and choir expenses | 8,105 | - | 8,105 | 7,260 | |
| Other expenses | 2,283 | - | 2,283 | 2,476 | |
| Social committee and coffee | 117 | - | 117 | - | |
| _ | _ | _ | _ | ||
| 104,401 | - | 104,401 | 104,237 | ||
| _ | _ | _ | _ | ||
| 3c. | Church management and administration | ||||
| Administration: | |||||
| Administrator’s salary | 8,250 | - | 8,250 | 7,586 | |
| Printing and stationery | 1,426 | - | 1,426 | 1,347 | |
| Subscriptions, bank and professional charges | 341 | - | 341 | 60 | |
| Independent Examiner’s fee | 2,750 | - | 2,750 | 2,470 | |
| Fees: Wedding, Funerals, Baptisms and other | 5,993 | - | 5,993 | 7,087 | |
| _ | _ | _ | _ | ||
| 18,760 | - | 18,760 | 18,550 | ||
| _ | _ | _ | _ | ||
| 3d. | Costs of generating funds | ||||
| Church Hall expenditure | 15,431 | - | 15,431 | 12,491 | |
| _ | _ | _ | _ | ||
| Total resources expended | 145,030 | - | 145,030 | 143,205 | |
| ====== | ====== | ====== | ====== |
Page 13
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements
for the year ended 31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| 4. | Staff Costs | £ | £ |
Wages and salaries |
25,110 |
24,197 | |
| ______ | ______ | ||
| 25,110 | 24,197 | ||
| ====== | ====== |
The average number of persons employed by the Charity during the year, including the Trustees was 3 (2020: 3).
5. Investment Assets
These represent:- 2021 2020 £ £ Central Board of Finance of the Church of England’s investment fund 57,878 57,878 (market value £125,569 (2020 - £109,854) Shares in Traidcraft Ltd 1,025 1,025 __ ____ 58,903 58,903
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| 6. | Analysis of Net Assets by Fund | Funds | Funds | Total |
| £ | £ | £ | ||
| Fixed assets for Church use: | ||||
| Investment fixed assets | 1,025 | 57,878 | 58,903 | |
| Current assets | 131,647 | 3,336 | 134,983 | |
| Current liabilities | (9,341) | - | (9,341) | |
| _ | _ | _ | ||
| Fund balance | 123,331 | 61,214 | 184,545 | |
| ====== | ====== | ====== |
Page 14
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements for the year ended 31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| 7. | Debtors | £ | £ |
| Income tax recoverable | 2,268 | 7,952 | |
| Prepayments | 1,258 | 900 | |
| _ | _ | ||
| 3,526 | 8,852 | ||
| ====== | ====== | ||
| 2021 | 2020 | ||
| 8. | Liabilities (amounts falling due | £ | £ |
| within one year) | |||
| Accrued charges | 9,341 | 20,704 | |
| ====== | ====== |
Page 15
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements for the year ended 31 December 2021
9. Unrestricted Funds
The balances on each Designated Fund as at the end year are as follows:-
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Designated Funds | ||
| Clergy Housing | 2,599 | 2,599 |
| Church Legacies and Gifts | 14,128 | 14,130 |
| Organ Fund | 150 | 1,425 |
| Church Hall | 45,157 | 47,877 |
| Bells Fund | (141) | 438 |
| Anchor Bereavement | 30 | 30 |
| The Children’s Fund (Inc. Agatha Downing Children Fund) | 6,851 | 1,851 |
| Graveyard Fund | (4,700) | 409 |
| Tower Fund | 467 | 467 |
| Friends of the Music | 5,317 | 4,017 |
| Rectors Charities | 1,671 | 1,921 |
| Water Aid | 348 | 170 |
| Furlough Scheme | 10,224 | 5,208 |
| Social Committee | 913 | 913 |
| _ | _ | |
| 83,014 | 81,455 | |
| ====== | ====== | |
| General Funds | ||
| Church | 37,919 | 39,105 |
| ====== | ====== | |
| Other Balances | ||
| Church Flowers | 2,398 | 1,792 |
| ====== | ====== | |
| Total | 123,331 | 122,352 |
| ====== | ====== |
The Clergy Housing Fund represents monies used for maintenance of the clergy accommodation. The Church Legacies and Gifts Fund represent monies held for legacies and gifts that are not restricted in their use.
The Organ Fund represents monies used for the maintenance of the Church organ.
The Church Hall Fund represents monies used to maintain the church hall and manage its finances. The Bells Fund represents monies used for maintenance of the Church bells.
The Anchor Bereavement Fund represents monies used to support those who are bereaved. The Children’s Fund (Inc Agatha Downing Children Fund) represents monies used for the Church’s work with children.
The Graveyard Fund represents monies used to maintain the Church graveyard.
The Tower Fund represents monies used for maintenance of the Church tower.
The Friends of the Music Fund represents monies used to fund development of music within the Church environment.
The Rector’s Charities represents monies for charitable giving at the Rector’s discretion.
The Water Aid fund represents monies used for charitable overseas water provision. The Furlough Scheme Fund represents monies received under the Furlough Scheme. When this scheme ends, monies will be available to fund Organ / Church building improvements.
The Social Committee fund represents monies available to fund Church social events. The General Funds represents the Church’s working capital.
The Church Flowers Fund represents monies used to fund the Church floral decoration.
Page 16
Parochial Church Council of St Mary, Old Swinford
Notes to the Financial Statements for the year ended 31 December 2021
10. Restricted Funds
The balances on each fund as at the year end are as follows:-
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Legacies and Gift Fund | 3,000 | 3,000 |
| St John’s Church Hall Fund | 57,878 | 57,878 |
| Fabric Fund | 336 | 336 |
| _ | _ | |
| 61,214 | 61,214 | |
| ====== | ====== |
The Legacies and Gift Fund represents monies used for legacies and gifts for a specific purpose.
St John’s Church Hall Fund represents the Charity’s capital reserve. Interest is earned on the capital sum.
The Fabric Fund represents monies used for the improvements and maintenance of the Church building.
11. Related Party Transactions
There are no related party transactions during the current and previous year.
12. Controlling Interest
The Charity was under the control of the Trustees throughout the current and previous year.
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