## **TRUSTEES’ ANNUAL REPORT For the period 1 January 2021 to 31 December 2021**
## **SECTION A REFERENCE AND ADMINISTRATION DETAILS**
Charity Name: The Parochial Church Council of the Ecclesiastical Parish of St Peter and St Paul, Moulton, Northants
Registered Charity Number: 1133729
Principle Address: Church Hill Moulton Northants NN3 7SW
Name of the charity trustees who manage the charity:
**Trustee Name Office Dates Acted (where not whole year)** Andy Byfield Vicar/Chair 01.01.2021-21.03.2021 Jonnie Deja Grafting Associate Vicar 01.01.2021-11.07.2021 Nick Alexander Acting Vicar Nic Edwards Curate Eric Anakwa Chris Battye Warden Philip Blackman 23.05.2021-31.12.2021 Pete Collins 23.05.2021-31.12.2021 Anna Byfield 01.01.2021-21.03.2021 Jane Cosby 01.01.2021-23.05.2021 George Farenden 01.01.2021-23.05.2021 Lynda Featley Secretary Mike Fink 15.11.2021-31.12.2021 Malcolm Forsyth Wendy Forsyth 23.05.2021-31.12.2021 Anne Jeffrey Neal Kennedy Warden Steve Kenton Treasurer 01.01.2021-15.11.2021 Mark Maryan Mike Monk Kathy Morrison Steve Morrow Simon Phillips Rich Rayment 23.05.2021-31.12.2021 Joan Stephenson Treasurer 15.11.2021-31.12.2021 Peter Storey 11.05.2021-31.12.2021 David Taylor Martyn Thompson Rachel Wild Andrew Wintersgill 01.01.2021-23.05.2021
Pete Collins, an existing employee, took on a role as a trustee during the year, the PCC are following the Conflict of Interest policy and are producing a document to detail the procedures that are in place to manage any conflict of interest and to protect the PCC ’ s interests. Once this document has been prepared, it will be presented at a future PCC meeting (hopefully the extraordinary meeting on Thursday 5 May 2022), to be voted upon and adopted by the PCC.
## **SECTION B STRUCTURE, GOVERNANCE AND MANAGEMENT**
Type of governing document The PCC Powers Measure and the Church Representation Rules How the charity is constituted Church of England Assembly (Powers) Act 1919 Parochial Church Council (Powers) Measure 1921
Trustee Selection Methods Elected by members of the electoral roll at an annual meeting
## **SECTION C OBJECTIVES AND ACTIVITIES**
Summary of the objects of the charity Administration and finances of the parish church of St Peter and St Paul, Moulton, Northants
Summary of the main activities To monitor and make due provision for the above, undertaken for the public benefit providing church services and associated offices (e.g.: weddings, funerals, baptisms) in accordance with the governing legislation. Ensuring the provision of other services and facilities as are deemed important, desirable and necessary for the parish, namely (inter alia)
- support and facilities for children of all ages
- support and facilities for families
- support and facilities for 3[rd] Age Ministry
- youth meetings in the village and schools
- women’s meetings and support
- men’s meetings and support
Community support for those suffering with mental health issues through the ReNew Wellbeing Café.
## **SECTION D ACHIEVEMENTS AND PERFORMANCE**
Summary of the main achievements
The Parish church of St Peter and St Paul continues to flourish, being financially stable and continuing to be an integral part of the village, providing support and fellowship across all ages. The Church emerged successfully from the pandemic returning to full provision of 'in person services' from July 2021. Regular mid-week home groups, prayer meetings and community activities also re-opened fully at the same time.
In July 2021 MPC started a new church called Grace Church Duston in the West of Northampton. This has begun well with services now being attended by between 60-90 each week.
In addition to a vicar, MPC has a children and families worker, a Youthworker, administrator, curate and three licensed readers.
Moulton Tots expanded to a second location in September 2021 and is now seeing many families attend each week. A wellbeing café has been set up and is well attended. The vacancy for a vicar has been successfully filled and the Institution and Induction Service was held on 6 February 2022.
## **SECTION E FINANCIAL REVIEW**
Reserves Policy
The charity has historically had a £30,000 reserve fund to cover emergency shortfall in salaries and expenditure, this being around two months of costs on average. During the pandemic income has fallen due to lockdown restrictions on Services and Church groups, and it has therefore been necessary to use some of the reserves. Measures are in place to restore the reserves to a level similar to their prepandemic levels.
## **DECLARATION**
The TRUSTEES DECLARE THAT THEY HAVE APPROVED THE TRUSTEES’ REPORT ABOVE.
COMPLETED ON BEHALF OF THE TRUSTEES BY LYNDA FEATLEY SECRETARY DATE: 26 April 2022
||Charity No
(if any)
1133729
Period start date
**01/01/2021**
**To**
Period end
date
**31/12/2021**
Charity Name: The Parochical Church Council of the
Ecclesiastical Parish of St Peter & St Paul, Moulton
Annual accounts for the period|Charity No
(if any)
1133729
Period start date
**01/01/2021**
**To**
Period end
date
**31/12/2021**
Charity Name: The Parochical Church Council of the
Ecclesiastical Parish of St Peter & St Paul, Moulton
Annual accounts for the period|
|---|---|---|
|**Section A**|**Statement of financial activities**||
|**Recommended categories by**
**activity**
Guidance Notes
**Incoming resources (Note 3)**
**Income and endowments from:**
Donations and legacies
S01
Charitable activities
S02
Other trading activities
S03
Investments
S04
Separate material item of income
S05
Other
S06
S07
**Resources expended (Note 6)**
**Expenditure on:**
Raising funds
S08
Charitable activities
S09
Separate material item of expense
S10
Other
S11
S12
S13
Net gains/(losses) on investments
S14
S15
**Extraordinary items**
S16
S17
S18
Other gains/(losses)
S19
S20
**_Reconciliation of funds:_**
S21
S22
**_Total_**
**_Net movement in funds_**
Total funds brought forward
**_Total funds carried forward_**
**_Total_**
**Net income/(expenditure) before investment**
**gains/(losses)**
**Net income/(expenditure)**
**Transfers between funds**
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed assets for the charity’s own use||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05
152,605
-
-
152,605
152,581
12,972
91,922
-
104,895
140,825
577
-
-
577
254
2
26
28
217
-
-
-
-
-
-
-
-
-
-|
|||166,156
91,948
-
258,104
293,877|
|||-
-
-
-
-
132,462
91,922
-
224,384
298,509
15,256
-
-
15,256
15,543
5,703
12,196
-
17,899
17,112|
|||153,421
104,118
-
257,539
331,163|
||||
|||12,736
12,170
-
-
565
37,286
-|
|||-
-
-
-
-|
|||12,736
12,170
-
-
565
37,286
-|
|||-
-
-
-
-
-
-
-
-
-
25,000
-
-
25,000
-
-
-
-
-
-|
|||37,736
12,170
-
-
25,565
37,286
-|
|||252,471
55,712
-
308,183
345,469|
|||290,207
43,542
-
333,749
308,183|
## **Section B Balance sheet**
|**Fixed assets**
**Intangible assets (Note 15)**
**Tangible assets (Note 14)**
**Heritage assets (Note 16)**
**Investments (Note 17)**
**_Total fixed assets_**
**Current assets**
**Stocks (Note 18)**
**Debtors (Note 19)**
**Investments (Note 17.4)**
**Cash at bank and in hand (Note 24)**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 20)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year (Note 20)**
**Provisions for liabilities**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Endowment funds (Note 27)**
**Restricted income funds (Note 27)**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_**
Signed by one or two trustees on behalf of all
the trustees|Guidance Notes
**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**£**
**£**
F01
F02
B01
-
-
B02
258,040
1,121
B03
-
-
B04
- -
B05
258,040
1,121
B06
-
-
B07
2,527 11,653
B08
-
-
B09
53,820
48,885
B10
56,346
60,539
B11
24,179 18,118
B12
32,167
42,421
B13
290,207
43,542
B14
- -
B15
-
-
B16
290,207 43,542
B17
-
B18
43,542
B19
265,207
B20
25,000
B21
290,207
43,542
Signature
J Stephenson|**Unrestricted**
**funds**
**£**
F01
-
258,040
-
-|
**Restricted**
**income**
**funds**
**£**
F02
-
1,121
-
-|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04
-
-
-
259,161
-
-
- -|**Total last**
**year**
**£**
F05|
|---|---|---|---|---|---|
||||||-
248,122
-
-|
|||258,040|1,121|-
259,161|248,122|
|||-
2,527
-
53,820|-
11,653
-
48,885|-
-
- 14,180
-
-
-
102,705||
||||||-
2,333
-
96,681|
|||56,346|60,539|-
116,885|99,013|
||||||38,952|
|||24,179|18,118|- 42,297||
|||||||
|||32,167|42,421|-
74,588|60,062|
|||||||
|||290,207|43,542|**-**
333,749|308,183|
||||||-
-|
|||-
-|-
-|- -
-
-||
|||||||
|||290,207|43,542|-
333,749|308,183|
|||-
265,207
25,000|43,542|-
43,542
- 265,207
25,000||
||||||-
55,712
252,471|
|||290,207|43,542|-
333,749|308,183|
|||||Joan Stephenson
Print Name|Date of
approval
dd/mm/yyyy
07/04/2022|
CC17a (Excel)
28/04/2022
2
## **Section C Notes to the accounts**
## Note 1 **Basis of preparation**
_**This section should be completed by all charities** ._
**1.1 Basis of accounting** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:
- the Statement of Recommended Practice: Accounting and Reporting by Charities
- • and with* preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019
- • and with* the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) • and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.* * -Tick as appropriate **1.2 Going concern**
_**If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:**_
**----- Start of picture text -----**
An explanation as to those factors that support
the conclusion that the charity is a going Not applicable
concern;
Disclosure of any uncertainties that make the
going concern assumption doubtful; Not applicable
Where accounts are not prepared on a going
concern basis, please disclose this fact
together with the basis on which the trustees
prepared the accounts and the reason why the Not applicable
charity is not regarded as a going concern.
1.3 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }.
Yes*
* -Tick as appropriate
No*
Please disclose:
(i) the nature of the change in accounting policy; Not applicable
(ii) the reasons why applying the new accounting policy
provides more reliable and more relevant information; Not applicable
and
(iii) the amount of the adjustment for each line affected
in the current period, each prior period presented and
the aggregate amount of the adjustment relating to
periods before those presented, 3.44 FRS 102 SORP. Not applicable
**----- End of picture text -----**
## **1.4 Changes to accounting estimates**
**----- Start of picture text -----**
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
Yes*
* -Tick as appropriate
No*
Please disclose:
(i) the nature of any changes; Not applicable
(ii) the effect of the change on income and expense or
assets and liabilities for the current period; and Not applicable
(iii) where practicable, the effect of the change in one or
more future periods.
Not applicable
**----- End of picture text -----**
**1.5 Material prior year errors**
|Yes*
No*
No material prior
**_Please disclose_**
**_(i) the nature of_**
**_(ii) for each pri_**
**_amount of the c_**
**_affected; and_**
**_(iii) the amount_**
**_earliest prior pe_**|year erro|r have been identified in the reporting period (3.47 FRS 102 SORP).|
|---|---|---|
|||* -Tick as appropriate|
||**_:_**
**_the prior_**
**_or period_**
**_orrection_**
**_of the co_**
**_riod pres_**|Not applicable
Not applicable
Not applicable
**_period error;_**
**_presented in the accounts, the_**
**_for each account line item_**
**_rrection at the beginning of the_**
**_ented in the accounts._**|
CC17a (Excel)
28/04/2022
3
## **Section C Notes to the accounts**
## **Note 2 Accounting policies**
_Please complete this note when first reporting under FRS2102. Section 35 of FRS102, requires 3 reconciliations to be presented, if all are applicable._
## **2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE**
**----- Start of picture text -----**
Please provide a description
of the nature of each change
in accounting policy
Reconcilation of funds per previous GAAP to funds determined under FRS 102
Start of End of
period period
£ £
Fund balances as previously
stated
Adjustments:
Fund balance as restated
Reconcilation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
End of
£
Net income/(expenditure) as previously
stated
Adjustments:
Previous period net income/(expenditure) as
restated
**----- End of picture text -----**
CC17a (Excel)
28/04/2022
4
**Section C Notes to the accounts (cont)**
## **Note 2 Accounting policies 2.2 INCOME**
**----- Start of picture text -----**
This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a
different or additional policy has been adopted then this is detailed in the box below.
Recognition of income These are included in the Statement of Financial Activities (SoFA) when:
the charity becomes entitled to the resources;
· it is more likely than not that the trustees will receive the resources; and Yes No N/a
the monetary value can be measured with sufficient reliability.
Yes No N/a
There has been no offsetting of assets and liabilities, or income and expenses, unless
Offsetting required or permitted by the FRS 102 SORP or FRS 102.
Yes No N/a
Grants and donations are only included in the SoFA when the general income
Grants and donations recognition criteria are met (5.10 to 5.12 FRS102 SORP).
Yes No N/a
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has Yes No N/a
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
Yes No N/a
Government grants The charity has received government grants in the reporting period
Gift Aid receivable is included in income when there is a valid declaration from the
Tax reclaims on donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift Yes No N/a
donations and gifts and is treated as an addition to the same fund as the initial donation unless the donor or
the terms of the appeal have specified otherwise.
Yes No N/a
Contractual income and This is only included in the SoFA once the charity has provided the related goods or
performance related services or met the performance related conditions.
grants
Yes No N/a
Donated goods are measured at fair value (the amount for which the asset could be
Donated goods
exchanged) unless impractical to do so.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
Yes No N/a
the fair value of those gifts at the time of their receipt and they are recognised on
receipt. In the reporting period in which the stocks are distributed, they are recognised
as an expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
Yes No N/a
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Yes No N/a
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
Yes No N/a
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
Yes No N/a
Donated services and Donated services and facilities are included in the SOFA when received at the value of
facilities the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as Yes No N/a
income with an equivalent amount recognised as an expense under the appropriate
heading in the SOFA.
Yes No N/a
Support costs The charity has incurred expenditure on support costs.
**----- End of picture text -----**
|**2.4 ASSETS**
**Intangible fixed assets**
**Settlement of insurance**
**claims**
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
They are valued at cost.
**Volunteer help**
These are capitalised if they can be used for more than one year, and cost at least
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
**Redundancy cost**
**2.3 EXPENDITURE AND LIABILITIES**
**Liability recognition**
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of
the obligation can be measured with reasonable certainty.
**Investment gains and**
**losses**
The charity accounts for basic financial instruments on initial recognition as per
paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
**Governance and support**
**costs**
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.
The charity made no redundancy payments during the reporting period.
**Deferred income**
No material item of deferred income has been included in the accounts.
**Creditors**
The charity has creditors which are measured at settlement amounts less any trade
discounts
**Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
**Basic financial**
**instruments**
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
**Income from interest,**
**royalties and dividends**
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
**Income from membership**
**subscriptions**
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
**Grants with performance**
**conditions**
Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
**Grants payable without**
**performance conditions**
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through custody
or legal rights. The amortisation rates and methods used are disclosed in note 9.5
They are valued at cost.
**Tangible fixed assets for**
**use by charity**
The depreciation rates and methods used are disclosed in note 9.2.|Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
Yes
No
N/a
|
|---|---|
**----- Start of picture text -----**
Heritage assets The charity has heritage assets, that is, non-monetary assets with historic, artistic, Yes No N/a
scientific, technological, geophysical or environmental qualities that are held and
maintained principally for their contribution to knowledge and culture. The depreciation
rates and methods used as disclosed in note 9.6.1.4.
Yes No N/a
They are valued at cost.
Investments Fixed asset investments in quoted shares, traded bonds and similar investments are
valued at initially at cost and subsequently at fair value (their market value) at the year Yes No N/a
end. The same treatment is applied to unlisted investments unless fair value cannot be
measured reliably in which case it is measured at cost less impairment.
Yes No N/a
Investments held for resale or pending their sale and cash and cash equivalents with a
maturity date of less than 1 year are treated as current asset investments
Yes No N/a
Stocks and work in Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net
progress realisable value.
Yes No N/a
Goods or services provided as part of a charitable activity are measured at net realisable
value based on the service potential provided by items of stock.
Yes No N/a
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the
contract.
Debtors (including trade debtors and loans receivable) are measured on initial recognition at Yes No N/a
settlement amount after any trade discounts or amount advanced by the charity.
Debtors
Subsequently, they are measured at the cash or other consideration expected to be
received.
The charity has has investments which it holds for resale or pending their sale and cash and
Yes No N/a
Current asset cash equivalents with a maturity date less than one year. These include cash on deposit and
investments cash equivalents with a maturity date of less than one year held for investment purposes
rather than to meet short term cash commitments as they fall due.
Yes No N/a
They are valued at fair value except where they qualify as basic financial instruments.
**----- End of picture text -----**
**POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM -Significant judgements and estimates** The preparation of financial statements requires the use of certain critical accounting estimates. It also **THOSE ABOVE** requires management to exercise its judgement in the process of applying the charity accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies. **-Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are amounts which have been set aside at the discretion of the trustees for specific but not legally binding purposes.
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. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
**-Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
**Section C Notes to the accounts (cont)**
## **Note 3 Analysis of income**
**----- Start of picture text -----**
Restricted
Unrestricted income Endowment
funds funds funds Total funds Prior year
Analysis £ £
Donations Donations and gifts 125,462 - - 125,462 126,053
and legacies: Gift Aid 27,143 - - 27,143 26,528
Legacies - - - - -
General grants provided by government/other
charities - - - - -
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donated goods, facilities and services - - - - -
Other - - - - -
Total 152,605 - - 152,605 152,581
Charitable MAST
activities: - 78,610 - 78,610 78,742
PGST - 13,313 - 13,313 53,615
- - - - -
Other 12,972 - - 12,972 8,468
Total 12,972 91,922 - 104,895 140,825
Other trading Fundraising
activities: 262 - - 262 74
Hire of Church Centre 315 - - 315 180
- - - - -
Other - - - - -
Total 577 - - 577 254
Income from Interest income 2 26 - 28 217
investments: Dividend income - - - - -
Rental and leasing income - - - - -
Other - - - - -
Total 2 26 - 28 217
Separate - - - - -
material item - - - - -
of income: - - - - -
- - - - -
Total - - - - -
Other: Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset held
for charity's own use - - - - -
Gain on disposal of a programme related
investment - - - - -
Royalties from the exploitation of intellectual
property rights - - - - -
Other - - - - -
Total - - - - -
TOTAL INCOME 166,156 91,948 - 258,104 293,877
**----- End of picture text -----**
**Other information:**
**All income in the prior year was unrestricted except for: (please provide description and amounts)**
Income from MAST and PGST for additional staff salaries and costs (Charitable activities), which was £132,357 in total in 2020 (MAST: £78,742 and PGST £53,615) and £179 of interest earned on restricted funds held in savings accounts (investment income).
**Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion.**
**Where any endowment fund is converted into income in the prior period, please give the reason for the conversion.**
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**Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts)**
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## **Section C Notes to the accounts (cont)**
## **Note 6 Analysis of expenditure**
**----- Start of picture text -----**
This year Last year
Restricted
Unrestricted Restricted Endowment Unrestricted income Endowment
Analysis funds income funds funds Total funds funds funds funds Total funds
Expenditure on raising funds: £ £
Incurred seeking donations - - - - - - - -
Incurred seeking legacies
- - - - - - - -
Incurred seeking grants
- - - - -
Operating membership schemes and
social lotteries
- - - - -
Staging fundraising events
- - - - -
Fudraising agents
- - - - -
Operating charity shops
- - - - -
Operating a trading company
undertaking non-charitable trading
activity - - - - -
Advertising, marketing, direct mail and
publicity - - - - - - - -
Start up costs incurred in generating
new source of future income
- - - - - - - -
Database development costs - - - - - - - -
Other trading activities - - - - -
Investment management costs: - - - - -
Portfolio management costs - - - - - - - -
Cost of obtaining investment advice
- - - - - - - -
Investment administration costs
- - - - - - - -
Intellectual property licencing costs
- - - - - - - -
Rent collection, property repairs and
maintenance charges - - - - - - - -
- - - - - - - -
Total expenditure on raising funds - - - - - - - -
Expenditure on charitable activities:
Parish Share 64,344 45,546 - 109,890 99,460 94,691 - 194,151
Salaries 23,209 42,475 - 65,684 22,904 32,982 - 55,886
Church Running Expenses
44,909 3,901 - 48,811 43,851 4,621 - 48,472
- - - - - - - -
Total expenditure on charitable
activities 132,462 91,922 - 224,384 166,215 132,294 - 298,509
Separate material item of expense
Mission Giving 15,256 - - 15,256 15,543 - - 15,543
- - - - - - - -
- - - - - - - -
Total 15,256 - - 15,256 15,543 - - 15,543
Other
Depreciation 5,703 12,196 - 17,899 4,916 12,196 - 17,112
- - - - - - - -
- - - - - - - -
- - - - - - - -
Total other expenditure 5,703 12,196 - 17,899 4,916 12,196 - 17,112
TOTAL EXPENDITURE 153,421 104,118 - 257,539 186,674 144,490 - 331,163
**----- End of picture text -----**
## **Other information:**
**Analysis of expenditure on charitable activities**
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**----- Start of picture text -----**
This year Last year
Activities Grant Activities Grant
Support Total this Support Total last
Activity or programme undertaken funding of undertaken funding of
Costs year Costs year
directly activities directly activities
£ £ £ £ £ £ £ £
Ministry (Parish Share, Salaries) 158,808 - 16,119 174,926 233,305 - 17,655 250,960
Mission (Church Groups and Activities) 48,606 - 10,601 59,207 48,859 - 9,285 58,143
Other (Establishment, Governance) 21,249 - 2,157 23,406 20,508 - 1,552 22,060
Total 228,663 - 28,876 257,539 302,671 - 28,492 331,163
**----- End of picture text -----**
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## **Section C Notes to the accounts**
## **Note 8 Funds received as agent**
_**8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance Sheet.**_
**----- Start of picture text -----**
Amount received Amount paid out Balance held at period end
Description/name of party Related
party (Yes This year Last year This year Last year This year Last year
or No) £ £ £ £ £ £
Grace Church Duston No
33,546 - 32,200 - 1,346 -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total 33,546 - 32,200 - 1,346 -
**----- End of picture text -----**
_**8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in the purchase of goods or services, please discose details of any balances outstanding between any participating members.**_
|**Total**
**Description/name of party**|**This year**
**Last year**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
**Balance held at period end**|
|---|---|
||-
-|
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## **Section C Notes to the accounts**
## **Note 9 Support Costs**
## _**Please complete this note if the charity has analysed its expenses using activity categories and has support costs.**_
## **This year**
**----- Start of picture text -----**
Raising
funds Ministry Mission Establishment Grand total Basis of allocation
Support cost (examples) £ £ £ £ £ (Describe method)
- - 1,200 - 1,200
Governance
- - 2,230 - 2,230
Administration
Church Office running costs [ - - 2,238 - 2,238 ]
Church Administrator Salary - 16,119 4,933 2,157 23,209 Based on duties and time
and Pension allocation
Other - - - - -
- 16,119 10,601 2,157 28,876
Total
Last year
**----- End of picture text -----**
|Governance
Administration
Church Office running costs
Church Administrator Salary
and Pension
Other
**Total**
**Support cost (examples)**|**Raising**
**funds**
**Ministry**
**Mission**
**Activity 3**
**Grand total**
**Basis of allocation**
**£**
**£**
**£**
**£**
**£**
**(Describe method)**
-
-
1,050 -
1,050
-
-
2,687 -
2,687
-
-
1,851 -
1,851
-
17,655 3,697 1,552 22,904Based on duties and time
allocation
-
-
-
-
-
- 17,655 9,285 1,552 28,492|
|---|---|
_**Please provide details of the accounting policy adopted for the apportionment of costs between activities and any estimation techniques used to calculate their apportionment.**_
The Church administrator costs have been apportioned between Church activities based on duties/time spent, estimated as a proportion of the total expenditure in each area of Ministry, Mission and Establishment.
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## **Section C Notes to the accounts**
## **Note 10 Details of certain items of expenditure**
## **10.1 Fees for examination of the accounts**
_**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).**_
|**Other fees (for example: financial advice, consultancy, accountancy services) paid**
**to the independent examiner**
**Independent examiner’s fees**
**Assurance services other than audit or independent examination**
**Tax advisory fees**|**This year**
**Last year**
**£**
**£**
1,200 1,050
- -
- -
- -|
|---|---|
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## **Section C Notes to the accounts (cont)**
**Note 11 Paid employees - NB this does not include clergy who are employed directly by the Church of England, and for whom we pay a Parish Share** _**Please complete this note if the charity has any employees.**_
## **11.1 Staff Costs**
|**This year:**
**Last year:**
**Salaries and wages**
**Social security costs**
**Other employee benefits**
**Total staff costs**
**Pension costs (defined contribution scheme)**
**Please provide details of expenditure on staff working for the**
**charity whose contracts are with and are paid by a related party**
**Please provide details of expenditure on staff working for the**
**charity whose contracts are with and are paid by a related party**|**This year**
**Last year**
**£**
**£**
21,514 21,246
- -
1,694 1,658
- -|
|---|---|
||23,209 22,904|
||There were staff costs of 2 other employees
who costs are reimbursed and paid for by the
separate MAST charity. MAST Salary costs:
£39,354 and Pension Contributions: £3,122
There were staff costs of 3 other employees
who costs are reimbursed and paid for by the
separate MAST charity. MAST Salary costs:
£30,613 and Pension Contributions: £2,369|
_**Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.**_
|**Band**
**Please provide the total amount paid to key management**
**personnel (includes trustees and senior management) for their**
**services to the charity. For specific amounts paid to trustees,**
**see Note 28.**
**No employees received employee benefits (excluding employer**
**pension costs) for the reporting period of more than £60,000**
**£60,000 to £69,999**
**£70,000 to £79,999**
**£80,000 to £89,999**
**£90,000 to £99,999**
**£100,000 to £109,999**|**This year**
**Last year**
- -
- -
- -
- -
- -
**This year**
**Last year**
**£**
**£**
- -
nil
**Number of employees**|
|---|---|
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|**11.2 Average head count in the year**
**The parts of the charity in which the**
**employees work**|**Fundraising**
**Charitable Activities**
**Governance**
**Other**
**Total**|**This year**
**Last year**
**Number**
**Number**
- -
1 1
- -
- -|
|---|---|---|
|||1 1|
## **11.3 Ex-gratia payments to employees and others (excluding trustees)** _**Please complete if an ex-gratia payment is made.**_
|**This year**
**Last year**
**This year**
**Last year**
**Please explain the nature of the**
**payment**
**Please state the legal authority or**
**reason for making the payment**
**Please state the amount of the payment (or value of any waiver of**
**a right to an asset)**|**This year**
**Last year**
**£**
**£**
- -
|
|---|---|
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## **11.4 Redundancy payments**
## _**Please complete if any redundancy or termination payment is made in the period.**_
|**Please state the accounting policy for any redundancy or**
**termination payments**
**The extent of redundancy funding at the balance sheet date**
**The nature of the payment (cash, asset**
**etc.)**
**Total amount of payment**|**This year**
**Last year**
**£**
**£**
- -
**This year**
**Last year**
**£**
**£**
- -|
|---|---|
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## **Section C Notes to the accounts (cont)**
**Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.**
## _**12.1 Please complete this note if a defined contribution pension scheme is operated.**_
|**Please explain the basis for allocating the liability and expense of**
**defined contribution pension scheme between activities and**
**between restricted and unrestricted funds.**
**Amount of contributions recognised in the SOFA as an expense***
**(*includes MAST staff)**|**This year**
**Last year**
**£**
**£**
4,816 4,027
The Church administrator
pension costs have been
apportioned between
Church activities based on
duties/time spent,
estimated as a proportion
of the total expenditure,
and are unrestricted funds.
MAST employee pension
costs are restricted and
have been allocated to
Ministry costs.
The Church administrator
pension costs have been
apportioned between
Church activities based on
duties/time spent,
estimated as a proportion
of the total expenditure,
and are unrestricted funds.
MAST employee pension
costs are restricted and
have been allocated to
Ministry costs.
|
|---|---|
## _**12.2 Please complete this section where the charity participates in a defined benefit pension plan but is unable to ascertain its share of the underlying assets and liabilities.**_
**Please confirm that although the scheme is accounted for as a defined** Not applicable **contribution plan, it is a defined benefit plan. Please provide such information as is available about the plan's surplus or deficit and the implications, if any, for** Not applicable **the reporting charity for this year and last year, if different**
_**12.3 Please complete this section where the charity participates in a multi-employer defined benefit pension plan that is accounted for as a defined contribution plan.**_
**Describe the extent to which the charity can be liable to the plan for other entities' obligations under the terms** For details please refer to the "Church Workers Pension Fund" page in the APCM **and conditions of the multi-employer** 2021 Financial Report. **plan. If this is different for last year, provide details Provide an explanation of how any liability arising from an agreement with a multi-employer plan to fund a deficit** Not applicable **has been determined. If this is different for last year, provide details**
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## **Section C Notes to the accounts (cont)**
## **Note 14 Tangible fixed assets** _**Please complete this note if the charity has any tangible fixed assets**_
## **14.1 Cost or valuation**
|**14.1 Cost or valuation**||||||||
|---|---|---|---|---|---|---|---|
|||**Freehold land &**
**buildings**
**£**|**Other land &**
**buildings**
**£**||**Plant,**
**machinery**
**and motor**
**vehicles**
**£**|**Fixtures, fittings and**
**equipment**
**£**|**Total**
**£**|
|At the beginning of the year||225,000||-|-|85,558|310,558|
|Additions||-||-|-|3,938|3,938|
|Revaluations||25,000||-|-|-|25,000|
|Disposals||-||-|-|-|-|
|Transfers *||-||-|-|-|-|
|At end of the year||250,000||-|-|89,497|339,497|
|**14.2 Depreciation and impairments**||||||||
||****Basis**|Market Value|SL or RB||SL or RB|SL|SL or RB|
||**** Rate**|Not applicable as
the market value
is at least equal to
the value in the
accounts.||||5 years||
|||||||||
|At beginning of the year||-||-|-|62,437|62,437|
|Disposals||-||-|-|-|-|
|Depreciation||-||-|-|17,899|17,899|
|Impairment||-||-|-|-|-|
|Transfers*||-||-|-|-|-|
|At end of the year||-||-|-|80,336|80,336|
|**14.3 Net book value**||||||||
|Net book value at the beginning of the year||225,000||-|-|23,122|248,122|
|Net book value at the end of the year||250,000||-|-|9,161|259,161|
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**----- Start of picture text -----**
14.4 Impairment
This year: Please provide a description of the events and
circumstances that led to the recognition or reversal of an impairment
loss.
Last year: Please provide a description of the events and
circumstances that led to the recognition or reversal of an impairment
loss.
14.5 Revaluation
If an accounting policy of revaluation is adopted, please provide: This year Last year
the effective date of the revaluation 18/02/2022 30/01/2021
the name of independent valuer, if applicable Not applicable Not applicable
The market value of The market value of
the property, obtained the property, obtained
from advice given by from advice given by
local estate agents local estate agents
Jackson Grundy. Jackson Grundy.
the methods applied and significant assumptions Please note a full Please note a full
professional valuation professional valuation
has not been obtained has not been obtained
in respect of the in respect of the
current accounting current accounting
period. period.
the carrying amount that would have been recognised had the assets £135,500 (purchase £135,500 (purchase
been carried under the cost model. price in July 2003) price in July 2003)
14.6 Other disclosures
This year Last year
£ £
(i) Please state the amount of borrowing costs, if any, capitalised in the construction - -
of tangible fixed assets and the capitalisation rate used.
(ii) Please provide the amount of contractual commitments for the acquisition of - -
tangible fixed assets.
(iii) Details of the existence and carrying amounts of property, plant
and equipment to which the charity has restricted title or that are
pledged as security for liabilities.
**----- End of picture text -----**
_* The "transfers" row is for movements between fixed asset categories._
_** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction._
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## **Section C Notes to the accounts (cont)**
## **Note 19 Debtors and prepayments**
## _**Please complete this note if the charity has any debtors or prepayments.**_
**19.1 Analysis of debtors Trade debtors Prepayments and accrued income Other debtors**
**----- Start of picture text -----**
This year Last year
£ £
- -
- -
14,179.9 2,332.9
14,179.9 2,332.9
**----- End of picture text -----**
**Total**
## _**Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.**_
## **19.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)**
|**Trade debtors**
**Prepayments and accrued income**
**Other debtors**
**Total**|**This year**
**Last year**
**£**
**£**
- -
- -
- -
- -|
|---|---|
||- -|
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## **Section C Notes to the accounts (cont)**
## **Note 20 Creditors and accruals**
_**Please complete this note if the charity has any creditors or accruals.**_
## **20.1 Analysis of creditors**
|**Accruals for grants payable**
**Bank loans and overdrafts**
**Trade creditors**
**Payments received on account for contracts or**
**performance-related grants**
**Accruals and deferred income**
**Taxation and social security**
**Other creditors**
**Total**|**This year**
**Last year**
**This year**
**Last year**
**£**
**£**
**£**
**£**
- - - -
- - - -
- - - -
- - - -
42,297 38,952 - -
- - - -
- - - -
**Amounts falling due**
**within one year**
**Amounts falling due after**
**more than one year**|
|---|---|
||42,297 38,952
- -|
## **20.2 Deferred income**
|**20.2 Deferred income**||
|---|---|
|**_Please explain the reasons why income is deferred._**
**_Movement in deferred income account_**
**Balance at the start of the reporting period**
**Amounts added in current period**
**Amounts released to income from previous periods**
**Balance at the end of the reporting period**
**_Please complete this note if the charity has deferred income._**
**This year**|**This year**
**Last year**
**£**
**£**
- -
- -
- -
**Last year**|
||- -|
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**Section C Notes to the accounts (cont)**
## **Note 24 Cash at bank and in hand**
|**Note 24 Cash at bank and in hand**||
|---|---|
|**Other**
**Cash at bank and on hand**
**Total**
**Short term cash investments (less than 3 months maturity date)**
**Short term deposits**|**This year**
**Last year**
**£**
**£**
- -
- -
102,705 96,681
- -|
||102,705 96,681|
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## **Section C Notes to the accounts (cont)**
## **Note 27 Charity funds**
## **27.1 Details of material funds held and movements during the CURRENT reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
**----- Start of picture text -----**
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR *
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
Moulton Parish Church funds UR General Church income and running costs 252,471 166,156 - 153,421 - - 265,206.79
Legacy Funds restricted to restoration of
Moulton Parish Church funds R the Church and investment in Church
assets 55,601 26 - 12,196 - - 43,431
MAST Charity funds R Moulton Staff Costs - 78,610 - 78,610 - - 0
PGST Charity funds R Church Plant Vicar Costs 111 13,313 - 13,313 - - 111
Fixed Assets UR Horsewell court revaluation 25,000 25,000
-
-
Total Funds 308,183 258,104 - 257,539 - 25,000 333,749
**----- End of picture text -----**
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## **Section C Notes to the accounts (cont)**
## **Note 27 Charity funds (cont)**
## **27.2 Details of material funds held and movements during the PREVIOUS reporting period**
_**Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.**_
_*** Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds**_
**----- Start of picture text -----**
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR *
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
Moulton Parish Church funds UR General Church income and running costs 277,851 161,293 - 186,674 - - 252,471.23
Legacy Funds restricted to restoration of
the Church and investment in Church
Moulton Parish Church funds R assets 67,618 179 - 12,196 - - 55,600.80
MAST Charity funds R Moulton Staff Costs - 78,742 - 78,742 - - -
PGST Charity funds R Church Plant Vicar Costs - 53,663 - 53,551 - - 111.20
Total Funds 345,469 293,877 - 331,163 - - 308,183
**----- End of picture text -----**
37,286
CC17a (Excel)
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## **Section C Notes to the accounts (cont)**
## **Note 27 Charity funds (cont)**
## **27.3 Transfers between funds**
## **This year**
|**This year**||||
|---|---|---|---|
||**Reason for transfer and where endowment is converted to**||**Amount**|
|||**income, legal power for its conversion**||
|Between unrestricted and||||
|restricted funds|Not Applicable|||
|Between endowment and||||
|restricted funds|Not Applicable|||
|Between endowment and||||
|unrestricted funds|Not Applicable|||
|||||
## **Last year**
|**Last year**||||
|---|---|---|---|
||**Reason for transfer and where endowment is converted to**||**Amount**|
|||**income, legal power for its conversion**||
|Between unrestricted and
restricted funds|Not Applicable|||
|Between endowment and||||
|restricted funds|Not Applicable|||
|Between endowment and||||
|unrestricted funds|Not Applicable|||
|||||
## **27.4 Designated funds**
## **This year**
|**Planned use**|**Purpose of the designation**|**Amount**|
|---|---|---|
||||
||||
||||
||||
||||
||||
|**Last year**|||
|**Planned use**|**Purpose of the designation**|**Amount**|
||||
||||
||||
||||
||||
||||
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**Section C Notes to the accounts (cont)**
## **Note 28 Transactions with trustees and related parties**
_**If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.**_
## **28.1 Trustee remuneration and benefits**
## **This year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
**----- Start of picture text -----**
FALSE
**----- End of picture text -----**
_**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_
|**PCC resolution**
**Name of trustee**
**Legal authority (eg**
**order, governing**
**document)**
**Pete Collins**|**Remuneration**
**Pension**
**contribution**
**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**
**Other**
**TOTAL**
**£**
**£**
**£**
**£**
**£**
14,435
1,135
- -**15,571**
-
-
- -
**-**
-
-
- -
**-**
-
-
- -
**-**
**Amounts paid or benefit value**|
|---|---|
_**Please give details of why remuneration or other employment benefits were paid.**_
**Pete Collins is the Church Administrator as well as becoming a Trustee in May 2021**
_**Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.**_
## **Last year**
**None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)**
**TRUE**
_**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_
|**Name of trustee**
**Legal authority (eg**
**order, governing**
**document)**
**_Please give details of why remuneration or other_**
**_employment benefits were paid._**
**_Where an ex gratia payment has been made to a trustee,_**
**_provide an explanation of the nature of the payment._**|**Remuneration**
**Pension**
**contribution**
**Redundancy**
**(including**
**loss of**
**office)/ex**
**gratia**
**Other**
**TOTAL**
**£**
**£**
**£**
**£**
-
-
- -
**-**
-
-
- -
**-**
-
-
- -
**-**
-
-
- -
**-**
**Amounts paid or benefit value**|
|---|---|
CC17a (Excel)
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## **28.2 Trustees' expenses**
_**If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".**_
**----- Start of picture text -----**
No trustee expenses have been incurred (True or False) FALSE
This year Last year
Type of expenses reimbursed
£ £
Travel - -
Subsistence 4,486 5,595
Accommodation - -
Other (please specify): - -
- -
TOTAL 4,486 5,595
Please provide the number of trustees reimbursed for expenses or who
had expenses paid by the charity 5 5
**----- End of picture text -----**
## **28.3 Transaction(s) with related parties**
_**Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.**_
## **This year**
**There have been no related party transactions in the reporting period (True or False)**
|**Name of the trustee**
**or related party**
**Relationship**
**to charity**
**Description of the**
**transaction(s)**
**PCC Members**
**Trustees**
**Aggregate Donations**
**received without**
**conditions**
**_For any related party, please provide details of any_**
**_guarantees given or received._**
**_In relation to the transactions above, please provide the_**
**_terms and conditions, including any security and the nature_**
**_of any payment (consideration) to be provided in_**
**_settlement._**|**Amount**
**Balance at**
**period end**
**Amounts**
**written off**
**during**
**reporting**
**period**
**£**
**£**
**£**
**29,849**
**£**
**Provision for bad debts**
**at period end**
Not applicable
Not applicable|
|---|---|
CC17a (Excel)
28/04/2022
28
## **Last year**
**There have been no related party transactions in the reporting period (True or False)**
|**Name of the trustee**
**or related party**
**Relationship**
**to charity**
**Description of the**
**transaction(s)**
**PCC Members**
**Trustees**
**Aggregate Donations**
**received without**
**conditions**
**_For any related party, please provide details of any_**
**_guarantees given or received._**
**_In relation to the transactions above, please provide the_**
**_terms and conditions, including any security and the nature_**
**_of any payment (consideration) to be provided in_**
**_settlement._**|**Amount**
**Balance at**
**period end**
**Amounts**
**written off**
**during**
**reporting**
**period**
**£**
**£**
**£**
**31,063**
**Provision for bad debts**
**at period end**
**£**
Not applicable
Not applicable|
|---|---|
CC17a (Excel)
28/04/2022
29
## **Financial Statements of the Parochial Church Council**
## **St Peter and St Paul, Moulton for the year ended 31 December 2021**
Charity law now requires that the church provides all the detail about its financial affairs that have appeared on display outside the church for the past fortnight. Regular income of the church continued to exceed £250,000 during 2021, therefore the accounts are prepared on an accruals basis. Further copies of the reports that have been on display are available for those who require them and are on display this evening. The aim of this handout is to provide a simplification of the current financial position in a format that is more familiar to people. There are also a few questions and answers to some frequently asked questions.
## **Financial Highlights**
## **Q1 - Could you briefly explain the 2021 financial results?**
A - The total income for the church in 2021 was £258,104 (including MAST and Grace Church income), with total expenditure of £257,539 (including MAST and Grace Church expenditure).
## **Q2 – How much did Income exceed Expenditure by in 2021?**
A - The total surplus of £565 consisted of non-cash depreciation charge of £17,899. With a cash surplus of £18,464 on underlying Church activities. The cash surplus was mainly due to a reduction in Parish Share contribution of £21,300 that was agreed by the Diocese, to enable reserve funds to be rebuilt by this sum after they were depleted by the impact of Covid in 2020.
**DEPRECIATION:** T4C Assets, the Church Organ, Sound system, computer, Church Hall Stairlift and new boiler for the Church Centre are being depreciated by 20% per year for 5 years, which has resulted in the charge of £17,899 in 2021.
**INCOME:** Overall income (excluding MAST and Grace Church income) was up by £4,663 in 2021 vs 2020, due to more Church groups opening up post Covid lockdowns, but income remained below pre-pandemic levels.
**EXPENDITURE:** £33,253 lower in 2021 than 2020 (excluding MAST and PGST expenditure). This was mainly due to lower Parish share costs, as we received relief of £21,300 on Parish Share costs to rebuild reserves and there was c£14k of other lower Parish share costs, including the impact of Andy Byfield leaving during 2021.
## **Q3 - Does MAST/PGST make a big difference to the financial picture?**
A - Yes and No. MAST and PGST provides significant funding to enable the church to employ additional workers and pays many of the costs associated with that. However, it only pays the costs incurred so the net impact on the financial position of the church itself is minimal.
## **Q4 - What are the main areas of expenditure?**
A – The main ongoing cost for the church remains the Parish Share that we pay to the Diocese and Salaries. At £64,344 (excluding Church Plant and MAST staff costs) this accounts for 42% of the church's unrestricted expenditure. After that are salaries for church staff and the general running of the church/church centre.
## **Q5 - How much does the church give to other groups, outside of the immediate life of the church?**
A - Around 10% of regular giving went to other groups, in line with the policy of the PCC, and this again included 10% of the money recovered from HMRC on Gift Aided donations.
## **Q6 - How much money does the church have available in the bank?**
A - The church has c.£102,705 in different bank accounts, which sounds extremely healthy. However, a significant amount of this money is restricted in how it can be used, for example for Restoration works to the church building and funds put aside to contribute towards our commitment to Grace Church Duston.
## **Q7 - How are things looking for 2022 and further ahead?**
A –There is a need to increase regular giving and income for the PCC, to provide ongoing support to Grace Church Duston, and to continue to rebalance income and expenditure in 2022 and beyond. Particularly with current inflationary pressures being faced by the Economy at large, such as higher Energy prices and increases in NI contributions.
## **Church Workers Pension Fund (CWPF) FRS102 - December 2021 Year End**
**St Peter & St Paul, Moulton** participates in the Pension Builder Scheme section of CWPF for lay staff. 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: £4,816, 2020: £4,027).**
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, **St Peter & St Paul, Moulton** could become responsible for paying a share of the failed employer’s pension liabilities.
## **Independent Examiner's Report to the Trustees of Parochial Church Council, St Peter and St Paul, Moulton**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2021.
## **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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
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 respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. 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.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our independent examination work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our independent examination work, for this report, or for the opinions we have formed.
Nicola Fox (FCA)
DNG Dove Naish LLP Eagle House 28 Billing Road Northampton NN1 5AJ
Date: 28 April 2022