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2022-12-31-accounts

All Souls Church

St. Margarets-on-Thames

Annual Report and Accounts Year Ended 31[st] December 2022

Registered charity number 1133773 Northcote Road, St Margarets, TW1 1PB

Contents

APCM Minutes 2022 3
Annual report 2022 5
o Vicar’s Report 5
o PCC and electoral roll reports 7
o Deanery Synod Report 7
o Safeguarding Report 8
o Fabric Report 9
o Reference and Administrative Details 10
o Structure, Governance and Management 10
o Responsibilities and Approval 12
o Risk Management 13
o Reserves Policy 13
Financial Review 2022 14
o Commentary on 2022 Finances 14
o Independent Examiner's Report to the PCC (David Howard Ltd) 16
o Annual Accounts for the period 1st January 2022 to 31st December 2022 17

Statement of Financial Activities (“SOFA”)		 17

Statement of Financial Position as at 31 December 2022		 18

Note 1 – Accounting policies		 19

Notes 2-4 – Analysis of incoming resources		 20

Note 5 – Analysis of resources expended		 22

Note 6-9 – Staffing & Taxation		 23

Note 10 – Tangible Assets		 24

Note 11 – Debtors and Prepayments		 25

Note 12 – Restricted Funds and Investments		 25

Note 13 – Liabilities		 25

Note 14a – Movement in Funds		 26

Note 14b – Movement in Funds		 27

2

Minutes from 2022 APCM – May 17[th] , 2022

Attendees

Alice Coleridge, Jan Cowie, Katherine Morgan, Linz Nolan, Maf Cavill, Sue Cavill, Ben Causley, Debbie Braun, Edel Erickson, Gordon Greenaway, Hannah Bowring, Helene Parry, Nick Rhodes, Joe Sellers, Jon Wooden, Tim Knight, Katherine Merrifield, Laurie Hams, Maggie Cheetham, Phil Davies, Richard Lebus, Charles Tapson, Marcus Cutler, Pat Andrews, David Rowe

Apologies:

Sian Knight, Jen Causley, Linda Northern, Onyema Nduka

  1. Joe gave a welcome to all attending the meeting

  2. Jon led praise & worship

  3. The minutes from 2021 APCM were approved with no objections and there were no matters

arising

4. Parishioners Meeting - Election of Churchwardens

APCM

5. Election of PCC

3

6. Election of Deanery Synod

7. Appointment of Independent Examiner

8. Reports

9.

Joe advised that he was thankful to so many people for their time, ideas and prayer.

10.

4

Annual report and accounts 31st December 2022

Parochial Church Council of All Souls Church, St Margaret's

Vicar’s report & overview of the year

Background

All Souls Church, St Margaret's is a Church of England congregation rooted in the local community of north St Margaret’s, the Ivybridge Estate and South Isleworth. The Church is led by the Vicar (Rev Joe Sellers) along with Licensed Lay Minister (Jon Wooden), supported by a small staff team (Church Manger and Administrator) along with many volunteers who oversee various aspects of the church's life and work. The Church Wardens and Parochial Church Council provide oversight as charity trustees.

Vision and Mission

We subscribe to the Vision of the Anglican Diocese of London, for ‘every Londoner to encounter the love of God in Christ.’ We seek to do this by being a Church that is with Jesus, like Jesus, and for everyone. - With Jesus, because at the heart of all we do is our relationship with him, and a desire to follow in his footsteps. - Like Jesus, because we seek to be formed in his image, sharing his love for the world and those around us. - For everyone, because we continue his mission of sharing the Good News of the Gospel with all, both locally and around the world, being a blessing to our communities in word and action.

Achievements in 2022

- 1. Continuing to re establish the gathered life of All Souls Church

Following successive waves of the COVID-19 virus with the associated impacts, 2022 was the year in which we finally returned to gathering without the cloud of restrictions to our activities. Teaching topics have included the book of Daniel; Prayer; Lessons from the early Church in Acts; Summer Reset; Autumn Vision series from John 15; and the Invitation of Advent. We celebrated with great numbers at both Easter and Christmas, with a Maundy Thursday Meal, Good Friday walk of witness, (with several other local Churches), Christingle, and the Carols by Candlelight as particular highlights. We welcomed new members to our worship team, and continued to broadcast services on Facebook, connecting with people who were unable to be present in person, some from across the country (and world!). Weekly prayer meetings continued over zoom, with occasional gatherings in person. The Monday Club for local seniors resumed alongside the regular midweek communion services.

2. Renewing our vision and mission in 2022

We began the year by identifying three immediate priorities for 2022.

5

a) We continued to see visitors join the Church and were delighted to host 2 ‘welcome’ meals for newcomers, along with ‘Bring and Share’ lunches on Sundays and a summer picnic in Ivybridge. During Lent, we began a number of new small ‘Connect’ groups, bringing members of the Church family into regular midweek contact to deepen relationships with God and one another. These included a Friday morning Bible study group, and a Monday night football group. At the same time, 18 people signed up to read the Gospel of Luke and Acts together during Lent. We held a number of socials (eg curry and pub nights) and a small group went camping together at the New Wine United summer festival. As the year came to a close, we prepared to run an Alpha course for those interested in exploring the Christian Faith.

b) Our work with children and young people continued as a priority. Our Sunday morning children’s groups drew in new team members and children. In October we ran a very popular ‘Glow in the Dark’ alternative Hallowe’en party. And the regular ‘All In’ services continued to prove popular with families. OASIS (a new Wednesday morning group for parents of babies and toddlers) began, providing this much needed community resource for the first time since before the pandemic. The youth groups continued with activities for the younger (11-16) group including a West London youth social, a summer term residential, and a bonfire night special. We began a youth Alpha course in September that will continue into the New Year. The older youth (16-18) used the ‘How (not) to read the Bible’ resource and had a number of socials involving food. In fact, between them, the two groups ate a lot of pizza in 2022! In November we ran a ‘Parenting in a Digital Age’ event to resource parents facing the connected opportunities and challenges.

c) Following the decision to close the Ivybridge foodbank, following the departure of the foodbank manager, our work on Ivybridge was put on hold while a small group of members started to meet regularly to discern where we go from here. The key priority has been identified to ‘be present’ on the estate, and to listen to what people there are saying, rather than assume we know what is needed at this time.

3. Identifying Priorities going forward

In September the PCC set out a renewed vision (see above) and began to work out what this looked like in practice. We also recognised the financial challenges we were facing with a decline in attendance and giving following the pandemic, and the impact of the cost of living crisis on us all. In November an appeal was launched for people to increase their giving, which drew a wonderful response, ensuring the security of ministry going forwards over the next few years.

4. Other activities

The vicar, along with other members of the team, continue a programme of pastoral visiting, including those who are sick, at home and in hospital, offering prayer and support. The vicar regularly leads assemblies and staff prayers in a local school and we have received visits from a number of year groups in several other schools. Our halls continue to host a large number of activities for the local community.

5. Looking forward

As we head into 2023, we are encouraged by the first ‘non-COVID’ Christmas in 3 years, and an associated resurgence in seasonal attendance. We end the year with a clearer sense of where we are going and what we

6

are called to do. The world is challenging in so many ways and we believe is, more than ever, in need of the good news of Jesus Christ. We move forward in the love of the Father and the power of the Spirit.

Rev Joe Sellers, Vicar of All Souls – March 2023

PCC Report

From April 2022, the PCC was made up of 1 clergy, 11 elected members, 2 Deanery Synod Representatives, 2 Churchwardens & 1 Licensed Lay Minister. It is chaired by a churchwarden and has met eight times during 2022.

In those meetings, the PCC has discussed the continued establishing of new ministries and a fresh vision for the church, potential youth worker fundraising, safeguarding processes and strategies associated with church finances.

As well as discussing practical matters of Church life, each PCC meeting includes times of prayer and worship.

During the year, the church underwent its triennial Archdeacon’s visitation. There were no significant actions required as a result of this visitation, but the PCC continues to monitor progress on the few items mentioned in the report.

Jon Wooden – Church Manager

Electoral Roll Report

The new electoral roll has 152 people, of whom 62 are resident outside the parish.

Jon Wooden - Electoral Roll Officer

Deanery Synod Report

The Hounslow Deanery Synod is made up of two groups of people:

The Deanery is a geographical area within a Diocese. There are 6 deaneries, including ours which is Hounslow Deanery, under the Bishop of Kensington, and a further 4 Bishops with 18 deaneries between them, all within the Diocese of London.

All Souls has three people on the Deanery – Joe Sellers as our vicar and two lay representatives – Linda Northern and Charles Tapson. The Area Dean is Rev. Martine Oborne, the vicar at St Michael’s Chiswick.

7

The Deanery Synod considers & comments on matters relating to the Church of England at a deanery level, discusses common concerns, & seeks to foster community & interdependence.

Since our last APCM there have been three meetings. Topics discussed included:

Links are available to the presentations for those who are interested.

The Deanery meetings are a great opportunity to meet fellow Anglicans, gain insight into the Church’s mission and feedback to the General Synod.

Charles Tapson – Deanery Synod representative

Safeguarding Report

Every person has a value and dignity that comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. This implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

Katherine Merrifield is our overall Church Safeguarding Officer with a particular responsibility for children and young people. Eva Thorne is the Church Safeguarding Officer for adults. Sue Cavill and Rachel Ward are the church Children’s Champions.

Copies of “Safeguarding in the Diocese of London” and any parish guidelines and procedures are held by the parish office.

8

Safeguarding is a standing agenda item for PCC. A smaller safeguarding steering group meets termly to review processes and procedures. Joe regularly flags to the whole congregation the importance of safeguarding and reminds them of who the safeguarding officers are. Over the year, good progress has been made in reviewing and improving the church’s safeguarding procedures and processes.

Katherine Merrifield – Church Safeguarding Officer for Children

Fabric Report

In 2022, significant work was continued on the church flat. New carpets were fitted and the flat was completely redecorated.

A new pressurisation unit was installed for the church heating system, and repairs were made to the associated electrical conduits.

New LED lights were fitted in the Main Hall, kitchen and Small Hall.

Water heaters in the WC’s were either repaired or replaced.

The major unexpected expense during the year was the complete renewing of the flat roof above the church flat, due to storm damage in March 2022, which caused substantial water ingress to both the flat and the Main Hall. Only 20% of the cost was covered by insurance.

The flat roofs above the halls and office are very old and allow water ingress into parts of the building at various times. The roof continues to be patched with liquid sealant to minimise the leaks.

Jon Wooden, Church Manager

9

Reference and Administrative Details

Charitable Status

 All Souls Church Office Northcote Road St Margarets TW1 1PB 020 8891 6820

Banks

Barclays Bank plc CBF Church of England Deposit Fund 8 George Street CCLA Investment Management Richmond, Surrey Senator House TW9 1JU 85 Queen Victoria Street London EC4V 4ET

Independent Examiner

David Howard Accountants

1 Park Road, Hampton Wick, Kingston upon Thames, KT1 4AS

Structure, Governance and Management

The Parochial Church Council

10

Chairman: Reverend Joe Sellers (Vicar) Churchwardens: David Rowe (until April 2022) Maf Cavill (from April 2022) Edel Erickson Deanery Synod: Maf Cavill (until April 2022) Charles Tapson Linda Northern (from April 2022) Elected members: Phil Davies (co-opted Treasurer) Tim Knight (until April 2022) Lindsay Nolan Debbie Braun Nick Rhodes Eva Thorne (until April 2022) Katherine Merrifield (until April 2022) Toby Willmer Debbie Cryan Tim Plyming Hannah Bowring Tom Johnson Ben Causley (from April 2022) James Donaldson (from April 2022) Alice Coleridge (from April 2022) Lay Minister: Jon Wooden

*non-trustees

11

Standing Committee

PCC Sub-Committees and Teams

Church Membership

Responsibilities and Approval

The PCC are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales require the trustees to prepare financial statements for each year which give a true and fair view of the state of the affairs of the church and of the incoming resources and application of resources, of the church for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the church’s transactions and disclose with reasonable accuracy at any time the financial position of the church and that enable them to ensure that the financial statements comply with the Charities Act 2011, Church Accounting Regulations 2006 and Charities SORP (FRS102). They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other regularities.

12

Risk Management

Reserves Policy

13

Financial Review 2022

Commentary on 2022 finances

Overview

As we settled into post-pandemic life, the impact of those who had relocated and the reduced size of our church family began to be reflected in our income figures. This, accompanied by soaring inflation and the cost-of-living crisis led to a substantial drop in our level of regular giving. However, we brought the finances of the church to the congregation and even in such a challenging environment, there was an amazing and generous response through both one-off gifts and new and increased commitments to give, going into the next year. We remain incredibly humbled by the many ways that people give to the church, whether that be through their time, energy or finances.

We have continued to try to control expenditure closely although unplanned maintenance costs to one of the flat roofs and rising utilities prices meant that our costs were higher than in 2021.

Therefore, total income was less than expenditure by £28,467 resulting in a fall in reserves although this was approximately in line with the deficit that had been budgeted for the year. Looking forward to 2023, we are hoping to keep expenditure approximately in line with levels that were budgeted for 2022. Despite the increased income commitments, budgeted income does not match this and we will expect a deficit result again in 2023. However, our current reserves remain sufficient to maintain the full life of the church in the current circumstances.

Income

The total unrestricted income in 2022 increased by 11% to £202,535 (2021: £183,094).

Several factors resulted in this outcome:

Restricted income fell to £7,884 (2021: £28,461). This was due to the drop in activity in our Ivybridge work and therefore we have not been actively fundraising for these activities, nor seeking any specific grants.

Expenditure

Total expenditure for All Souls in 2022 increased by 5% to £238,886 (from £226,569 in 2021).

The main changes in expenditure compared with 2021 are as follows:

14

We were pleased to be able to maintain our Diocesan Common Fund contributions at £89,460 to exceed the target ‘full costs’ contribution for the year.

Balance Sheet

At the year end, cash and bank balances totalled £188,457 (2021: £219,699).

The majority of this cash balance is held in an interest-bearing deposit account.

In 2022 we closed the year with net unrestricted funds of £155,030 (2021: £190,888). We ended 2022 with £55,705 in restricted funds (2021: £48,314). We are aware that there are now substantial funds built up for Ivybridge and these will start to be utilised when the mission in this area restarts in 2023.

Phil Davies, Treasurer - on behalf of the Finance Team

March 2023

15

Independent Examiners' Report to the PCC of All Souls Church, St Margaret’s

I report on the accounts of the charity for the year ended 31 December 2022, which are set out on pages 5 to 29.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

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 needed.

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 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 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Signed: …………………..........................

David Howard Chartered Accountants 1 Park Road Hampton Wick Kingston upon Thames Surrey KT1 4AS

25/04/2023 Dated: ....................

16

All Souls Church, St Margarets

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2022

----- Start of picture text -----
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations and legacies 2 114,788 7,884 122,672 119,892 16,461 136,353
Charitable activities
Church activities 3 85,770 - 85,770 63,116 12,000 75,116
Investments 4 1,977 - 1,977 86 - 86
Total income 202,535 7,884 210,419 183,094 28,461 211,555
Expenditure on:
Charitable activities
Church activities 5 238,393 493 238,886 202,435 24,134 226,569
Total expenditure 238,393 493 238,886 202,435 24,134 226,569
Net movement in funds (35,858) 7,391 (28,467) (19,341) 4,326 (15,014)
Reconciliation of funds:
Total funds brought forward 190,888 48,314 239,202 210,228 43,988 254,216
Total funds carried forward 155,030 55,705 210,735 190,888 48,314 239,202
----- End of picture text -----

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 14a to the financial statements.

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All Souls Church, St Margarets

Balance sheet

As at 31 December 2022

----- Start of picture text -----
2022 2021
Note £ £ £ £
Fixed assets:
Property - historic cost 10 15,100 15,100
Tangible assets 10 - -
15,100 15,100
Current assets:
Debtors 11 10,390 7,928
Cash at bank and in hand 12 188,457 219,699
198,847 227,627
Liabilities:
Creditors: amounts falling due within one year 13 (3,212) (3,525)
Net current assets 195,635 224,102
Total net assets 210,735 239,202
Parish funds 14a
Unrestricted funds 155,030 190,888
Restricted funds 55,705 48,314
Total charity funds 210,735 239,202
----- End of picture text -----

Approved by the PCC and signed on their behalf by

Joe Sellers Vicar

18

All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies

a) Statutory information

All Souls Church, St Margarets-on-Thames is an unincorporated charity registered with the Charity Commission for England and Wales.

The registered office address is Northcote Road, St Margarets, TW1 1PB.

b) Basis of preparation

The financial statements have been prepared in accordance with the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

Monetary amounts are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets which are shown at market value. The financial statements 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.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

e) Income

The accounts are prepared on the accruals basis of accounting: income is recognised when receivable, except for donations of all kinds that are recognized when received ; income tax recoverable is recognized at the same time as the donation. Grants and donations are accounted for when paid over provided that the terms of the grant do not impose future performance related conditions on the PCC. All incoming resources are accounted for gross.

19

All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

Unrestricted general funds represent funds that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Unrestricted designated funds include funds which are not restricted but have been designated by the PCC for a specific purpose. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.

h) Liabilities policy

Liabilities are recognised where there is an obligation to transfer economic benefits. The liability recognised is the amount that the Church anticipates it will pay to settle the debt or the amount it has received as an advance payment for goods or services it must provide. A provision for a liability is recognised only when: there is a present obligation at the reporting date as a result of a past event; it is probable that a transfer of economic benefit, usually in the form of cash, will be required in settlement; and the amount of the settlement ca n be estimated reliably. The provision will be measured at the best estimate of the settlement amount.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time). For a nything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.

Individual items of equipment with a purchase price of £750 or less are written off when the asset is acquired. Items of equipment used within the church are capitalised where the acquisition value exceeds £750. Depreciation is provided on these assets so as to write off their cost or valuation less any estimated residual value in equal instalments over the expected useful economic life of the asset as follows:

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

Unrestricted
£
99,644
Collections - special services
231
14,913
Ivybridge Giving
-
114,788
3
Unrestricted
£
Rental income (Halls, Flat)
76,161
Parochial fees & Events
1,056
Sub-total for church activities
77,217
Grants received
2,641
5,912
Sub-total for other income
8,553
85,770
4
Unrestricted
£
1,977
1,977
Gifts and 'one-off' donations
from congregation
Regular giving from
congregation (incl gift aid)
Income from investments
Bank interest
Other income
Total income from charitable
activities
Income from charitable activities		 £
-
329
1,894
5,661
7,884
£
-
-
-
-
-
-
-
£
-
-
Restricted
Restricted
Restricted		 2022
Total
£
99,644
560
16,807
5,661
122,672
2022
Total
£
76,161
1,056
77,217
2,641
5,912
8,553
85,770
2022
Total
£
1,977
1,977		 Unrestricted
£
112,860
56
6,976
-
119,892
Unrestricted
£
62,225
832
63,057
-
59
59
63,116
Unrestricted
£
86
86		 £
-
378
3,266
12,817
16,461
£
-
-
-
12,000
-
12,000
12,000
£
-
-
Restricted
Restricted
Restricted		 2021
Total
£
112,860
434
10,242
12,817
136,353
2021
Total
£
62,225
832
63,057
12,000
59
12,059
75,116
2021
Total
£
86
86

21

All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

5
Unrestricted
£
Church activities
50,851
Ministry costs
109,079
-
Buildings and Utilities
73,506
Administrative and communications
4,957
Total resources expended
238,393
Staff costs (note 6)
Project costs
Analysis of Expenditure on Charitable Activities		 £
-
-
466
-
27
493
Restricted		 2022
Total
£
50,851
109,079
466
73,506
4,984
238,886		 Unrestricted
£
41,838
108,982
-
46,037
5,578
202,435		 £
17,804
-
5,867
-
462
24,134
Restricted		 2021
Total
£
59,643
108,982
5,867
46,037
6,040
226,569

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Social security costs
Salaries and wages
Recruitment and staff training
Employer’s contribution to defined contribution pension schemes		 2022
£
49,073
664
1,098
16
50,851		 2021
£
57,202
1,128
1,254
59
59,643

No employee earned more than £60,000 during the year (2021: nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £33,384 (2021: £30,828).

No PCC members were remunerated for any employment or services to the church. (2021: None)

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £637 (2021: £888) incurred by 1 (2021: 2) trustee (clergy) relating to travel and parking expenses, a percentage of home internet and telephone costs, subsistence, the purchase of sermon reference materials and reimbursement of items purchased for church use.

7 Staff numbers

During the year, the PCC employed a Church Manager, Lay Minister and Church Administrator, which are all part time roles. The average monthly number of employees was 2.0 (2021 - 2.3). This represents 1.53 full time equivalent members of staff (2021 - 1.72).

8 Related party transactions

There are no related party transactions to disclose for 2022 (2021: none).

Total unconditional donations from PCC members and related parties in 2022 amounted to £39,885 (2021: £38,720).

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

10
Depreciation
Cost
At the end of the year
At the end of the year
At the start of the year
At the end of the year
Net book value
Tangible fixed assets
At the start of the year
Charge for the year
At the start of the year
Additions in year
Disposals in year
Eliminated on disposal		 Studio and
Halls
£
15,100
-
-
15,100
-
-
-
-
15,100
15,100		 Church
Equipment
£
5,122
-
-
5,122
5,122
-
-
5,122
-
-		 Total
£
20,222
-
-
20,222
5,122
-
-
5,122
15,100
15,100

Historic note: Additions to tangible assets in 2017 comprised a valuation of the Studio and Halls due to a Diocesan requirement for them to be incorporated into the church accounts if the PCC members are the managing trustees for such property.

Under The PCC (Powers) Measure 1956 PCCs cannot own property (land or buildings). This means that the London Diocesan Fund will be the registered owner of any PCC property and the PCC will be the managing trustees. Despite this, the decision making power lies directly with the PCC which is at liberty to manage the property in line with its stated charitable aims and will receive the sale proceeds if the property is sold.

For accruals accounting , the two approaches which are deemed acceptable are the recording of historic cost or the recording of current value. As the PCC had no desire to inflate our accounts, it was recommended that we select historic cost as the basis. The Diocese has no requirement for us to depreciate these properties.

The historic construction costs have been assessed for the purposes of the accounts only and are based upon the current measured floor space and utilising building rates applicable c. 1910 (for the Studio) and in the late 1950’s (for the Halls).

The Studio is a free standing building within the grounds of All Souls Church. It is believed to have been erected in the early 20 th century and is built with solid 9” brick walls, a pitched timber and slate covered main roof with similarly constructed rear additions, timber windows and a suspended timber floor. Internally it provides a single open plan area with two small changing areas, now mainly used by Twickenham Academy of Dance, and an office, kitchenette and two WC s at the rear. The approximate original construction cost of the Studio, without a bill of quantities or drawings, is £1,600 (c. 1910).

The Halls were erected in the 1950’ s and built with concrete portal frames and felt covered ribbed concrete roofs, 11” brick walls fitted with Crittall single glazed windows, and solid wood block covered floors. Internally they provide (1) a small, lower height, hall and kitchen facility; (2) a meeting room formed out of previous changing rooms and toilets; (3) the full height main hall; (4) the former stage converted a decade ago into a separate activity space, with an under croft beneath, used as another activity area, and a boiler room off; and (5) ancillary toilets at the front of the main hall with a self contained flat above with external access from the courtyard at the side of the main hall. The approximate original construction cost of the Halls, without a bill of quantities, is £13,500 (c. 1950).

24

All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

11 Debtors and prepayments

Tax recoverable
Rent receivable
Other prepayments		 Unrestricted
4,194
5,326
-
9,520		 870
-
-
870
Restricted		 2022
Total
5,064
5,326
-
10,390		 Unrestricted
1,519
5,241
1,000
7,760		 168
-
-
168
Restricted		 2021
Total
1,687
5,241
1,000
7,928

12 Restricted funds and investments

Cash balances held for restricted purposes comprise of the following:

Funds within the PCC cash balances restricted for Ivybridge Activities
Total restricted funds held as cash
Funds held within the PCC current account restricted for the future employment of a
youth / families worker		 2022
£
51,638
3,197
54,835		 2021
£
45,056
3,197
48,253

Unrestricted cash balances at 31 December 2022 amounted to £133,622 (2021: £171,445).

The majority of the cash balance at the year end is held in a deposit account in order to earn interest while plans are agreed for longer term investment and development activities. The balance on this deposit account at 31 December 2022 was £151,787 (2021: £149,817).

13 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred
income		 Unrestricted
2,312
900
3,212		 -
-
-
Restricted		 2022
Total
2,312
900
3,212		 Unrestricted
2,518
900
3,418		 107
-
107
Restricted		 2021
Total
2,625
900
3,525

25

All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

14a Movements in funds (current year)

Total restricted funds
Total designated funds
General funds
Foodbank
Youth worker
Financial reserve
Total funds
Total unrestricted funds
Buildings historic cost
Restricted funds:
Ivybridge
Designated funds:
Unrestricted funds:		 At 1
January
2022
£
42,890
2,227
3,197
48,314
25,000
15,100
40,100
150,788
190,888
239,202		 Income &
gains
£
5,701
2,183
-
7,884
-
-
-
202,535
202,535
210,419		 Expenditure
& losses
£
(493)
-
-
(493)
-
-
-
(238,393)
(238,393)
(238,886)		 Transfers
£
-
-
-
-
-
-
-
-
-
-		 At 31
December
2022
£
48,098
4,410
3,197
55,705
25,000
15,100
40,100
114,930
155,030
210,735

The narrative to explain the purpose of each fund is given at the foot of the note below.

26

All Souls Church, St Margarets

Notes to the financial statements

For the year ended 31 December 2022

14b Movements in funds (prior year)

Total restricted funds
Total designated funds
General funds
Financial reserve
Total unrestricted funds
Unrestricted funds:
Designated funds:
Total funds
Ivybridge
Buildings historic cost
Youth worker
Restricted funds:
Foodbank		 At 1
January
2021
£
36,435
4,356
3,197
43,988
25,000
15,100
40,100
170,129
210,229
254,216		 Income &
gains
£
24,967
3,494
-
28,461
-
-
-
183,094
183,094
211,555		 Expenditure
& losses
£
(18,512)
(5,622)
-
(24,134)
-
-
-
(202,435)
(202,435)
(226,569)		 Transfers
£
-
-
-
-
-
-
-
-
-
-		 At 31
December
2021
£
42,890
2,227
3,197
48,314
25,000
15,100
40,100
150,788
190,888
239,202

Purposes of restricted funds

The Ivybridge funds are fund specifically given for the Church's work on the Ivybridge estate.

The Foodbank funds are those given towards supporting the Ivybridge foodbank.

Youth worker funds have been given for the employment of a youth / families worker.

Purposes of designated funds

Financial reserve represents the funds identified as the minumum reserves level required by the church.

Building historic costs represents the value of buildings held on the balance sheet which are not readily available as liquid funds.

27