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2022-12-31-accounts

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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 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 49

These financial statements form a part of the PCC of St John’s Annual Report on pages 1 to 34

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARISH OF ST JOHNS SOUTHALL

I report on the accounts for the year ended 31 December 2022 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:

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:

have not been met; or

19-Jun-2023

…………………………………………….

Rev. David M Green FCA Gowers Limited Chartered Accountants The Old School House Bridge Road Hunton Bridge Kings Langley Herts WD4 8SZ

Date:.

………........

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Parish of St Johns Southall

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

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Parish of St Johns Southall

BALANCE SHEET WITH FUNDS AT 31 DECEMBER 2022

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Parish of St Johns Southall

BALANCE SHEET WITH FUNDS - CONTINUED

AT 31 DECEMBER 2022

The financial statements were approved by the Board of Trustees on 13[th] June 2023and were signed on its behalf by:

………………………………..

Rev Dr Anna Poulson (Chair)

………………………………. **** (Board of Trustee member)

14-Jun-2023 ……………………………… Christina Masih Alfred (Treasurer)

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Parish of St Johns Southall

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

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 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 monetary 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 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

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Parish of St Johns Southall

The long leasehold property is included in the Balance Sheet at the estimated market value as valued on the 26[th] January 2018.

Taxation

The charity is exempt from tax on 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 restricted purposes.

The accounts include all transactions, assets, and liabilities for which the PCC is responsible in law. They do not include 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		 2022
2021
£
£
10,965
13,122
22,796
52,083
115,781
125,184
54,131
25,291
8,100
10,000
15,163
5,500
12,418
-
239,354
231,180

Grants received, included in the above are as follows:

Other grants:
Non-recurring grants:
Spacehive, Old church
Francis Courtney Fund
London Diocese Fund, Church Energy Grant
Foodhub
Fundraising events
Over 60s income		 -
5,500
8,552
3,000
2,641
970
15,163
-
-
-
1,864
-
1,864
-

3. ACTIVITIES FOR GENERATING FUNDS

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Parish of St Johns Southall

4. INVESTMENT INCOME

INVESTMENT INCOME
Rents received
Deposit account interest and dividends		 2022
2021
23,720
27,538
111
-
23,831
27,538

5. COSTS OF GENERATING VOLUNTARY INCOME

5.
COSTS OF GENERATING VOLUNTARY INCOME

costs of fetes & other events
costs of stewardship campaign		 2022 2021
-
-
-
-
-
-

6. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees’ expenses

Anna Poulson £ 3,079
KaileanKhongsai £ 1,863
Nila Masih £ 189
Manori Wellington £ 34

7. STAFF COSTS

Wages and salaries, and pensions
2952 Caretaker (and Cleaner)
2001 Asst staff costs (FH)
2050 Administrator/Ops
2055 Pensions
2060 Youth work
2327 Little Angels
2331 Cleaning
2330 Church maintenance
2350 Upkeep of church yard
The average monthly number of employees during the year was as follows:
Employees @ 31 Dec		 2022
2021
48,555
34,545
8,218
11,730
22,382
2,139
380
1,248
1,112
1,346
0
5
2

Administrator, Cleaner, Care taker, Little Angels & Youth (Leavers; Ops Mgr, FoodhubMgr)

No employees received emoluments in excess of £60,000.

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Parish of St Johns Southall

8. TANGIBLE FIXED ASSETS

9. FIXED ASSET INVESTMENTS

CBF Y
CBF G
Other
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accounts Receivable

2022
2021
£
£
30,297
33,741
62,812
69,953
-
-
93,109
103,694
2022
2021
£
£
57,628
16,626

11. CURRENT ASSET INVESTMENTS


Other		 2022 2021
-
-
-
-

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Parish of St Johns Southall

12. CASH AT BANK

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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Parish of St Johns Southall

14. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

Curate's House Mortgage 2022
2021
£
£
175,330
180,002
175,330
180,002

15. MOVEMENT IN FUNDS

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Parish of St Johns Southall

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 (2022: £2,139 2021: £2,339).

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 2022

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Parish of St Johns Southall

DETAILED STATEMENT OF FINANCIAL ACTIVITIES - Continued FOR THE YEAR ENDED 31 DECEMBER 2022

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Parish of St Johns Southall

DETAILED STATEMENT OF FINANCIAL ACTIVITIES - Continued

FOR THE YEAR ENDED 31 DECEMBER 2022

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