DocuSign Envelope ID: 83144B77-F8C9-4EC8-B401-71130FA44687
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 FOR PARISH OF ST JOHNS SOUTHALL**
## CONTENTS
||Page|
|---|---|
|Independent Examiner's Report|36|
|Statement of Financial Activities|37|
|Balance Sheet|38 to 39|
|Notes to the Financial Statements|40 to 45|
|Detailed Statement of Financial Activities|46 to 47|
These financial statements form a part of the PCC of St John’s Annual Report on pages 1 to 34
Page | 35
DocuSign Envelope ID: 83144B77-F8C9-4EC8-B401-71130FA44687
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARISH OF ST JOHNS SOUTHALL**
I report on the accounts for the year ended 31 December 2021 set out on pages thirty-six to forty-seven.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 consideration of any unusual items or disclosures in the accounts, 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 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 statements below.
## **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 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
- 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.
Rev. David M Green FCA
Gowers Limited Chartered Accountants The Old School House Bridge Road Hunton Bridge Kings Langley Herts WD4 8SZ
19-Jul-2022
Date:. ......
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DocuSign Envelope ID: 83144B77-F8C9-4EC8-B401-71130FA44687
## **PARISH OF ST JOHNS SOUTHALL**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2021**
|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total funds|Total funds|
|||funds|funds|||
||Notes|£|£|£|£|
|**INCOMING RESOURCES**||||||
|**Incoming resources from generated funds**||||||
|ALC income||-|-|-|70|
|Voluntary income|2|159,635|71,545|231,180|166,888|
|Activities for generating funds|3|-|-|-|447|
|Investment income|4|27,598|-|27,598|26,582|
|**Incoming resources from charitable activities**||||||
|Church||31,843|75|31,918|13,391|
|**Other incoming resources**||-|-|-|-|
|**Total incoming resources**||219,076|71,620|290,696|207,377|
|**RESOURCES EXPENDED**||||||
|**Costs of generating funds**||||||
|Costs of generating funds||5,449|-|5,449|406|
|Costs of generating voluntary income|5|-|-|-|-|
|**Charitable activities**||||||
|Church||192,278|15,941|208,219|196,893|
|**Governance costs**||10,763|-|10,763|10,866|
|**Other resources expended**||-|-|-|100|
|**Total resources expended**||208,490|15,941|224,431|208,265|
|**NET INCOME/(EXPENDITURE) FOR THE YEAR BEFORE**||||||
|**TRANSFERS**||10,586|55,679|66,265|(428)|
|**Gross transfers between funds**|15|(16,352)|16,352|-|-|
|**Gains/losses on investment assets**||15,417|-|15,417|8,353|
|**Gains/losses on the revaluation of fixed assets**||-|-|-|-|
|**Net income/(expenditure) for the year**||9,651|72,031|81,682|7,464|
|**RECONCILIATION OF FUNDS**||||||
|**Total funds brought forward**||450,420|42,132|492,552|485,087|
|**TOTAL FUNDS CARRIED FORWARD**||460,071|114,163|574,234|492,552|
The notes form part of these financial statements
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DocuSign Envelope ID: 83144B77-F8C9-4EC8-B401-71130FA44687
## **PARISH OF ST JOHNS SOUTHALL**
## **BALANCE SHEET AT 31 DECEMBER 2021**
|||||2021|2020|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total funds|Total funds|
|||funds|funds|||
||Notes|£|£|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|8|487,678|985|487,663|488,953|
|Investments|9|103,694|-|103,694|88,278|
|**NET ASSETS**||590,372|985|591,357|577,231|
|**CURRENT ASSETS**||||||
|Debtors|10|16,626|-|16,626|20,321|
|Investments|11|-|-|-|-|
|Cash at bank|12|43,064|113,178|156,242|88,545|
|||59,690|113,178|172,868|119,784|
|**CREDITORS**||||||
|Amounts falling due within one year|13|(13,588)|-|(13,588)|(12,831)|
|**NET CURRENT ASSETS**||46,102|114,163|159,280|95,945|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||636,474|114,163|750,638|673,266|
|**CREDITORS**||||||
|Amounts falling due after more than one year|14|(176,403)|-|(176,403)|(180,714)|
|**NET ASSETS**||460,071|114,163|574,235|492,552|
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DocuSign Envelope ID: 83144B77-F8C9-4EC8-B401-71130FA44687
## **PARISH OF ST JOHNS SOUTHALL**
## **BALANCE SHEET - CONTINUED AT 31 DECEMBER 2021**
|||2021|2020|
|---|---|---|---|
|||Total funds|Total funds|
||Notes|£|£|
|**FUNDS**|15|||
|Unrestricted funds:||||
|General fund||425,884|411,838|
|Designated - Gifts||-|-|
|Designated - Little Angels||698|698|
|Designated -Night Shelter||1,528|1,830|
|Designated - Over 60s club||2,676|3,196|
|Designated – Projects Fund||24,285|31,561|
|Designated – Old Church||5,000|-|
|||460,071|449,123|
|Restricted funds:||||
|ALC||2,810|2,810|
|Community and Near Neighbours projects||5,828|3,776|
|Language||3,701|3,249|
|Kings Centre – interfaith committee||1,879|1,879|
|Vibe – Ward Forum grant||198|198|
|Vibe – Youth worker||21,441|23,726|
|Events||663|663|
|Flowers||83|83|
|Language Class Salary||4,467|3,866|
|The Table||3,079|3,179|
|Projects Fund||14,069|-|
|Old Church||55,945|-|
|||114,163|43,429|
|**TOTAL FUNDS**||574,235|492,552|
The financial statements were approved by the Board of Trustees on and were signed on its behalf by:
18-Jul-2022
…..........................................
Rev. Dr. Anna Poulson – chair
22-Jul-2022
….......................................... Neelam Sidhu -Trustee
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## **PARISH OF ST JOHNS SOUTHALL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention and in accordance with the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities, the Charities SORP (FRS102).
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity (PCC) is legally entitled to the income and the amount can be quantified with reasonable accuracy. These consist of standing order, loose, envelope donations by current and previous members of the congregation.
Voluntary income and capital sources:
Collections are recognised when received by or on behalf of the PCC.
Planned giving receivable under Gift Aid is recognised only when received.
Tax reclaims on donations and gifts:
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.
Incoming resources with related expenditure:
Funds raised by the fete, garden party, sales of books, magazines from the church bookstall and similar events are accounted for gross.
Other ordinary income:
Rental income from the letting of church premises is recognised when the rental is due.
Income from investments:
Interest is accounted for on a receivable basis.
Gains and losses on investments:
Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.
Volunteer help:
The value of any voluntary help received is not included in the accounts.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Governance costs**
Cost of the preparation and examination of statutory accounts.
## **Tangible fixed assets**
Depreciation is provided in order to write off each asset over its estimated useful life.
Consecrated land and buildings and movable church furnishings:
Consecrated and beneficed property is excluded from the accounts by s10(2)(a) of the Charities Act 2011.
Other tangible assets:
Other tangible assets are depreciated on a reducing balance basis at a rate of 20%. Some items have been fully depreciated.
## **Property revaluation**
The long leasehold property is included in the Balance Sheet at the estimated market value as valued on the 26[th] January 2018.
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## **PARISH OF ST JOHNS SOUTHALL**
## **NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021**
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
General Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
The accounts include all transactions, assets and liabilities for which the PCC 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
**2. VOLUNTARY INCOME**
|Online giving, other planned giving and collections
Donations
Monthly giving and Gift Aid envelopes
Gift Aid tax recoverable
Legacies
Grants
Other funds generated
Grants received, included in the above, are as follows:
Other grants
**ACTIVITIES FOR GENERATING FUNDS**
Fundraising events
Over 60s income
**INVESTMENT INCOME**
Rents received
Deposit account interest and dividends|2021
£
13,122
52,083
125,184
25,291
10,000
5,500
-
231,180
2021
£
5,500
2021
£
-
-
-
2021
£
27,538
-
27,538|2020
£
9,714
7,464
123,282
25,131
-
930
367
166,888
202 0
£
930
2020
£
-
447
447
2020
£
26,582
-
26,582|
|---|---|---|
||||
||||
## **3. ACTIVITIES FOR GENERATING FUNDS**
## **4. INVESTMENT INCOME**
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## **PARISH OF ST JOHNS SOUTHALL**
## **NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021**
## **5. COSTS OF GENERATING VOLUNTARY INCOME**
|Costs of fêtes & other events
Costs of stewardship campaign|2021
£
-
-
-|2020
£
-
-|
|---|---|---|
|||-|
## **6. TRUSTEES’ REMUNERATION AND BENEFITS**
There were no trustees’ remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees’ expenses**
There were no trustees’ expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2020.
## **7. STAFF COSTS**
|Wages and salaries, and pensions
The average monthly number of employees during the year was as follows:
Employees
No employees received emoluments in excess of £60,000.|2021
£
34,545
2021
2||2020
£
28,629|
|---|---|---|---|
||||2020
2|
|||||
## **8. TANGIBLE FIXED ASSETS**
|Long leasehold
£
**COST**
At 1 January 2021
482,500
Additions
-
Disposals
-
At 31 December 2021
482,500
**DEPRECIATION**
At 1 January 2021
-
Charge for year
-
On disposals
-
At 31 December 2021
-
**NET BOOK VALUE**
At 31 December 2021
482,500
At 31 December 2020
482,500|Minibus
Equipment
&
£
£
8,700
16,840
-
-
-
-
8,700
16,840
7,469
11,618
246
1,044
-
-
7,715
12,662
985
4,178
1,231
5,222|Totals
£
508,040
-
-|
|---|---|---|
|||508,040|
|||18,779
1,290
-|
|||20,377
487,663|
|||488,953|
The long leasehold property is included in the Balance Sheet at the Trustees valuation based on the estimated market value provided by the letting agent on the 26[th] January 2018.
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## **PARISH OF ST JOHNS SOUTHALL**
## **NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021**
## **9. FIXED ASSET INVESTMENTS**
|2021
2020
£
£
CBF Y
33,741
28,725
CBF G
69,953
59,553
Other
-
-
103,691
88,278
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2021
2020
£
£
Other debtors
16,626
20,231
**11.**
**CURRENT ASSET INVESTMENTS**
2021
2020
£
£
Other
-
-
**12.**
**CASH AT BANK**
2021
Bank current
account
Bank deposit
account
Total cash
£
£
£
£
**FUNDS**
Unrestricted funds:
General fund
8,817
60
8,877
Designated – Gifts
-
-
-
Designated – Little Angels
698
-
698
Designated -Night Shelter
1,528
-
1,528
Designated – Over 60s club
2,676
-
2,676
Designated – Projects Fund
19,732
4,553
24,285
Designated – Old Church
5,000
5,000
Restricted funds:
ALC
2,810
-
2,810
Community and Near Neighbours projects
5,828
5,828
Language
3,701
-
3,701
King Centre Interfaith Committee
1,879
-
1,879
Vibe – Ward Forum grant
198
-
198
Vibe – Youth worker
20,456
-
20,456
Events
663
-
663
Flowers
83
-
83
Language Class Salary
4,467
-
4,467
The Table
3,079
-
3,079
Projects Fund
14,069
14,069
Old Church
55,945
55,945
Total
151,629
4,613
156,242||2020
£
28,725
59,553
-|
|---|---|---|
|||88,278|
|||2020
£
20,231|
|||2020
£
-|
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## **PARISH OF ST JOHNS SOUTHALL**
## **NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021**
## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accounts payable and other creditors
Curate’s House Mortgage (portion due within one year)
**14.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN**
Curate’s House Mortgage
**15.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Designated – Gifts
Designated – Little Angels
Designated -Night Shelter
Designated – Over 60s club
Designated – Projects Fund
Designated – Old Church
**Restricted funds**
ALC
Community and Near Neighbours projects
Language
Kings Centre – Interfaith Committee
Vibe – Ward Forum grant
Vibe – Youth worker
Events
Flowers
Language Class Salary
The Table
Project s Fund
Old Church
**TOTAL FUNDS**|2021
£
9,988
3,600
13,588
**ONE YEAR**
2021
£
176,403
At 1.1.21
Incoming
Resources
and transfers
Resources
Used
and transfers
At
£
£
£
411,838
229,241
(215,195)
-
1,230
(1,230)
698
-
-
1,830
60
(362)
3,196
-
(520)
31,561
-
(7,276)
-
5,000
-
449,123
235,531
(224,583)
2,810
-
-
3,776
8,506
(6,454)
3,249
800
(348)
1,879
-
-
198
-
-
23,726
15
(2,301)
663
-
-
83
-
-
3,866
75
527
3,179
-
(100)
-
14,069
-
-
63,469
(7,524)
43,429
89,634
(16,200)
492,552
322,465
(240,783)|2020
£
9,231
3,600|
|---|---|---|
|||12,831|
|||2020
£
180,714|
|||31.12.21
£
425,884
-
698
1,528
2,676
24,285
5,000|
|||460,071
2,810
5,828
3,701
1,879
198
21,441
663
83
4,468
3,079
14,069
55,945|
|||114,163
574,235|
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DocuSign Envelope ID: 83144B77-F8C9-4EC8-B401-71130FA44687
## **PARISH OF ST JOHNS SOUTHALL**
**NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021**
## **16. ULTIMATE CONTROLLING PARTY**
The charity is controlled by the members of the PCC.
## **17. CHURCH WORKERS PENSION FUND (CWPF)**
St John's Church (Southall Green) PCC (PB2014) CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.
CWPF has two sections:
1. the Defined Benefits Scheme
2. the Pension Builder Scheme, which has two subsections;
a. a deferred annuity section known as Pension Builder Classic, and,
- b. a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2021: £2,339, 2020: £2,074).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.
For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 3% following improvements in the funding position over 2021. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, EMPLOYER could become responsible for paying a share of the failed employer’s pension liabilities.
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## **PARISH OF ST JOHNS SOUTHALL**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**INCOMING RESOURCES**
**Incoming resources from generated funds**
ALC income
**Voluntary income**
Online giving, other planned giving and collections
Donations
Monthly giving and Gift Aid envelopes
Gift Aid tax recoverable
Legacies
Grants
Other funds generated
**Activities for generating funds**
Fundraising events
Over 60s income
**Investment income**
Rents received
Deposit account interest and dividends
**Incoming resources from charitable activities**
Language Classes Income
Fees for weddings and funeral
Church Hall Lettings - objective
**Other incoming resources**
Insurance claims
NI allowance
Language Class Salary
**Total incoming resources**|2021
£
-
-
13,122
52,083
125,184
25,291
10,000
5,500
-
231,180
-
-
-
27,598
-
27,598
75
3,351
28,492
31,918
-
-
-
-
290,696|2020
£
70|
|---|---|---|
|||70
9,714
7,464
123,282
25,131
-
930
367|
|||166,888
-
447|
|||447
26,582
-|
|||26,532
290
617
12,484|
|||13,391
-
-
-|
|||-|
|||207,377|
This page does not form part of the statutory financial statements
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DocuSign Envelope ID: 83144B77-F8C9-4EC8-B401-71130FA44687
## **PARISH OF ST JOHNS SOUTHALL**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|**RESOURCES EXPENDED**
**Costs of generating funds**
Caretaker, including payroll
**Charitable activities**
Rates and water
Insurance
Light and heat
Hospitality
Giving to missionary societies & relief and development agencies
Home mission
Common Fund
Assistant staff costs
Youth worker salary, expenses, youth united and youth running costs
Salary of parish administrator
Staff pensions
Working expenses of incumbent
Parsonage house expenses
Over 60s
Language Classes
Parish training and mission
Church running - insurance
Upkeep of services Organ/piano etc.
Equipment
Worship group expenses
Little Angels
Messy Church and creche
Church maintenance
Cleaning
Upkeep of churchyard
Administration
The Table
Church repairs
Curacy house maintenance
Depreciation of equipment
**Governance costs**
HR Costs/Fee
Curacy House Mortgage
Thispage does not formpart of the statutoryfinancial statements
Legacy
Marketing
**Total resources expended**
**Net income/(expenditure)**|2021
£
5,449
5,449
1,751
4,120
9,771
2,003
21,689
4,240
86,429
1,520
2,594
28,191
2,339
2,158
355
120
(178)
1,670
5,785
1,346
3,272
286
52
378
7,645
3,456
450
6,721
100
5,940
2,726
1,291
208,219
626
10,137
10,763
-
-
-
224,431
66,265|2020
£
406
406
894
3,661
9,284
1,262
20,040
400
85,200
1,941
3,583
26,555
2,074
3,885
384
-
291
20
6,373
2,013
3,925
153
143
1,097
3,574
7,213
450
5,609
187
2,497
3,877
308
196,893
504
10,362
10,866
-
100
100
208,265
(428)|
|---|---|---|
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