| FOR THE YEAR ENDED 31DECEMBER 2021 | ||
|---|---|---|
| CONTENTS | PAGES | |
| Trustees' Annual report |
2-6 | |
| Statement ofresponsibilities ofthe members ofthe PCC |
||
| Independent examiner's report |
||
| Statement offinancial activities | ||
| Balance sheet | 10 | |
| Notes to the financial statements |
11-20 |
| During the year the fo Ex Officio members |
llowing s |
erved as members ofthe Parochial Churc | h Council: |
|---|---|---|---|
| Incumbent: | The Rev'd Canon Simon Holland | Chairman | |
| The Rev'd Martha Weatherill | Associate Rector (until July) | ||
| The Rev'd Rachel Hawes | Associate Rector | ||
| Readers: | John Ashwin, Martin Cooke, Alison Horncastle |
||
| Churchwardens: | John Ashwin* (from May 2021) |
||
| David Foster* (Vice-chairman) | |||
| Elected Members | Jennifer Aitchinson | ||
| Margaret Elkin | |||
| Charles Gauntlett | |||
| Chris Merrien (from August 2021) | |||
| Noel Avril Priestman (from August 2021) |
|||
| Richard Radford | |||
| Valerie Sargeant | |||
| Katrina Shippam (from August 2021) |
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| Roderick Smith* (Treasurer) | |||
| Chantal Tomlinson | |||
| Martin Troy (until May 2021) | |||
| Patricia Vincent- Townend | |||
| *Standing Committee | member | ||
| Deanery Synod | Jill Goulding | ||
| Margaret Heald * |
|||
| Martin Tomlinson |
| TOTAL | TOTAL | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | FUNDS | FUNDS | |||
| Notes | Funds | Funds | Funds | 2021 | 2020 | ||
| Incoming resources | |||||||
| Donations and legacies |
3a | 118,023 | 226,361 | 344,384 | 368,43/ | ||
| Other trading activities |
3b | 22,167 | 137,694 | 159,861 | /5, 646 | ||
| Income from investments | 3c | 97 | 21 | 118 | 508 | ||
| IncomePom church activities |
3d | 671 | 671 | /,209 | |||
| Other income | 3e | 26,982 | 26,982 | 9,350 | |||
| Total income and endowments | 140,958 | 391,037 | 21 | 532,015 | 395,/45 | ||
| Resources expended | |||||||
| Expenditure on raising funds |
4a | 3,434 | 3,434 | (6) | |||
| Expenditure on church activities |
4b | 177,331 | 510,252 | 954 | 688,537 | 508,/33 | |
| Total resources expended | 177,331 | 513,686 | 954 | 691,971 | 508,I27 | ||
| Gains/(losses) on investments |
7b | 513 | 513 | 234 | |||
| Gains/Posses) on investment |
pr operty | 6 | |||||
| Net incoming/(outgoing) resources before transfers |
(35,860) | (122,650) | (933) | (159,443) | (112,749) | ||
| Gross transfers between funds |
46,901 | (46,901) | |||||
| Net incoming/(outgoing) resources before other recognised gains/losses |
11,041 | (169,551) | (933) | (159,443) | (112,749) | ||
| Net movement in funds |
11,041 | (169,551) | (933) | (159,443) | (112,749) | ||
| Total funds brought forward at 1 January |
106,736 | 434,656 | 10,540 | 551,933 | 664,681 | ||
| Total funds carried forward | at 31December | 117,776 | 265,106 | 9,607 | 392,490 | 551,933 |
| Notes | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Fixed assets | ||||||
| Investment Property |
(Regnum | Court) | 6 | 0 | 240,000 | |
| Tangible fixed assets | 7a | 270 | 1,655 | |||
| Investments | 7b | 4,485 | 3,973 | |||
| Total fixed assets | 4,756 | 245,629 | ||||
| Current assets | ||||||
| Stock | 150 | 150 | ||||
| Debtors | 7,000 | 0 | ||||
| Short term deposits | 116,058 | 115,940 | ||||
| Cash at bank and in | hand | 374,178 | 292,535 | |||
| 497,386 | 408,624 | |||||
| Current Liabilities |
||||||
| Creditors: amounts | falling due | within one year | 10 | (109,653) | ('102,320) | |
| Net current assets | 387,733 | 306,304 | ||||
| Total assets less current liabilities | 392,490 | 551,933 | ||||
| NET ASSETS | 392,490 | 551,933 | ||||
| Funds | ||||||
| Endowment funds |
12 | 9,607 | 10,540 | |||
| Restricted funds |
12 | 265,106 | 434,658 | |||
| Unrestricted funds |
12 | 117,777 | 106,734 | |||
| TOTAL FUNDS | 392,490 | 551,933 |
| All income and endowments are accounted for without deduction for any costs ofreceivability, |
All income and endowments are accounted for without deduction for any costs ofreceivability, |
All income and endowments are accounted for without deduction for any costs ofreceivability, |
All income and endowments are accounted for without deduction for any costs ofreceivability, |
All income and endowments are accounted for without deduction for any costs ofreceivability, |
are | recognised | recognised | recognised | when | when | there is | there is | there is | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| evidence ofentitlement, receipt is probable, and the amount can be measured |
reliably. | ||||||||||||||
| Voluntary Income |
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| Collections are recognised when received. |
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| Planned giving receivable is recognised only when received. |
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| Income tax recoverable on Gift Aid donations is recognised when the income |
is | recognised. | |||||||||||||
| Grants and legacies are recognised when the formal offer in writing ofthe funding |
is received by the PCC. | ||||||||||||||
| Income from Charitable Activities | |||||||||||||||
| Income is recognised when the money is received. |
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| Income from investments | |||||||||||||||
| Dividends are accounted for when due and payable. Interest entitlements are |
accounted | for as they | accrue. Tax recoverable | ||||||||||||
| on such income is recognised in the same accounting year. |
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| All otherincome | |||||||||||||||
| All other income is recognised in the period to which it relates. |
|||||||||||||||
| Income received in advance is deferred to the period to which it relates. | |||||||||||||||
| Gains and losses on investments | |||||||||||||||
| Realised gains are recognised when the investments are sold. |
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| Unrealised gains and losses are accounted for on revaluation on 31December. |
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| d | Resources used | ||||||||||||||
| Resources expended are accounted for on an accruals basis and are accounted |
for gross. | ||||||||||||||
| Grants | |||||||||||||||
| Grants and donations are accounted for when paid over, or when awarded where |
the award creates a binding | obligation | on the | ||||||||||||
| PCC. | |||||||||||||||
| Church Activities | |||||||||||||||
| The diocesan parish contribution is accounted for on an annual basis, reflecting |
the | allocation | set by our | deanery. | Any | parish | |||||||||
| contribution unpaid at 31December is provided for in these accounts as an operational |
(though | not | a legal) liability | and | is | ||||||||||
| shown as a creditor in the balance sheet. | |||||||||||||||
| e | Fixed Assets | ||||||||||||||
| Tangible fixed assets | |||||||||||||||
| Consecrated and beneficed property ofany kind is excluded from the accounts |
by s.10(2)ofthe | Charities | Act | 2011. | |||||||||||
| All expenditure on consecrated or beneficed buildings and related moveable church |
furnishings, | whether | maintenance | or | |||||||||||
| improvement, is written offas expenditure in the Statement ofFinancial |
|||||||||||||||
| activities and is separately disclosed. |
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| The PCC owns the freehold ofStMichael's Church Summersdale, which is held |
by | the | Diocese | as Custodian | Trustee. | This | |||||||||
| property is not included at any valuation in the accounts as there is insufficient |
cost information | for | the asset | and | an | ||||||||||
| alternative valuation would not be reliable for achurch building. No depreciation |
is provided | on property | as | it is | the | PCC's | |||||||||
| policy to maintain the asset in a continual state ofsound repair. The economic |
life ofthe asset | is so | long | and | the | residual | |||||||||
| value so high that any depreciation would not be material. The asset is subject |
to annual | impairment | reviews | and | provision | ||||||||||
| would be made for any diminution in value. |
| 3 | Incoming resources | Incoming resources | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| TOTAL | TOTAL | ||||||||||
| Unrestricted | Restricted | Endowment | FUNDS | FUNDS | |||||||
| Funds | Funds | Funds | 2021 | 2020 | |||||||
| a | Donations and legacies |
||||||||||
| Planned giving |
64,795 | 64,795 | 67,321 | ||||||||
| Collections at | all services | 5,987 | 1,741 | 7,728 | 7,433 | ||||||
| Grants, donations and appeals |
32,244 | 214,878 | 247,122 | 263,383 | |||||||
| Income tax recoverable | 14,997 | 9,742 | 24,739 | 28,544 | |||||||
| Legacies | I,750 | ||||||||||
| 118,023 | 226,361 | 344,384 | 368,431 | ||||||||
| b | Other trading | activities | |||||||||
| Fetes, bazaars | and other fund-raising | events | 1,807 | 137,694 | 139,501 | 3,096 | |||||
| Parish Centre | Hire | 19,477 | 19,477 | 11,635 | |||||||
| Parking Donations | 10 | 10 | |||||||||
| Photocopying | 510 | 510 | 559 | ||||||||
| Coffee Sales | 363 | 363 | 357 | ||||||||
| 22, | 167 | 137,694 | 159,861 | 15,646 | |||||||
| c | Income Pom investments | ||||||||||
| Dividends and |
interest | 97 | 21 | 118 | 508 | ||||||
| 97 | 21 | 118 | 508 | ||||||||
| d | IncomePom Church Activities |
||||||||||
| Fees from funerals, weddings |
etc | 671 | 671 | 1,209 | |||||||
| 671 | 671 | 1,209 | |||||||||
| e | Other income | ||||||||||
| Rent Isurplus | on disposal | 26,982 | 26,982 | 9,350 | |||||||
| 26,982 | 26,982 | 9,350 | |||||||||
| Total incoming resources |
140,958 | 391,037 | 21 | 532,016 | 395,145 |
| 4 | Resources expended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| TOTAL | TOTAL | ||||||||||
| FUNDS | FUNDS | ||||||||||
| Unrestricted | Restricted | Endowment | |||||||||
| Funds | Funds | Funds | 2021 | 2020 | |||||||
| a | Expenditure on raising funds |
||||||||||
| Stewardship costs |
|||||||||||
| Fetes, bazaars and other |
fund-raising | events | 3,434 | 3,434 | |||||||
| Concert Costs | |||||||||||
| 3,434 | 3,434 | ||||||||||
| b | Expenditure on church |
activities | |||||||||
| Missionary and charitable |
giving: | ||||||||||
| Overseas: | |||||||||||
| B.E.A.T.S | 550 | 550 | 800 | ||||||||
| Children's Society |
323 | ||||||||||
| CMS | 550 | 550 | 800 | ||||||||
| DEC (special collections) | |||||||||||
| Children on the Edge |
|||||||||||
| US (formally USPG) | 550 | 550 | 700 | ||||||||
| Diocesan Harvest Appeal | 550 | 550 | 550 | ||||||||
| Promise Nepal | |||||||||||
| Home: | |||||||||||
| Computers for Schools |
15,023 | 15,023 | |||||||||
| Church Army | 575 | 575 | 700 | ||||||||
| Stonepillow (donations |
throughout | year) | ~ | 800 | 800 | 375 | |||||
| Four Streets | 375 | 375 | 375 | ||||||||
| Confide | 375 | 375 | 400 | ||||||||
| Chichester City Drop In |
375 | 375 | 375 | ||||||||
| Beads ofCourage | |||||||||||
| Chestnut Tree House | 375 | 375 | |||||||||
| March School | |||||||||||
| Snowdrop Trust |
375 | 375 | 375 | ||||||||
| StWilfrids | 375 | ||||||||||
| Angelman Syndrome |
375 | 375 | |||||||||
| Sanctuary | 375 | 1,000 | 1/75 | 375 | |||||||
| 6,200 | 16,023 | 22423 | 6,523 |
| TOTAL | TOTAL | ||||||
|---|---|---|---|---|---|---|---|
| FUNDS | FUNDS | ||||||
| Unrestricted | Restricted | Endowment | |||||
| Funds | Funds | Funds | 2021 | 2020 | |||
| Ministry costs: | |||||||
| diocesan parish contribution | 70,340 | 70,340 | 70,490 | ||||
| other clergy costs | 5,396 | 847 | 6/43 | 8,266 | |||
| Church running expenses |
12,073 | 12,073 | 12,521 | ||||
| Church maintenance | 31,742 | 450,675 | 482,417 | 319,495 | |||
| Upkeep ofservices | 2,886 | 909 | 3,795 | 5,298 | |||
| Upkeep ofchurchyard | 75 | 75 | 90 | ||||
| Parish magazine/Library | 77 | 45 | 122 | 31 | |||
| Sunday school costs/ | Youth Work | 4,368 | 9,686 | 14,054 | 12,887 | ||
| Housing Costs | 105 | 530 | 635 | 4,602 | |||
| Salaries/Training | 29,962 | 6,245 | 36,207 | 23,307 | |||
| Church hall running | costs | 10,648 | 418 | 11,066 | 4,792 | ||
| Bank charges | 197 | 197 | 60 | ||||
| Depreciation | 1,386 | 1,386 | 564 | ||||
| Independent examination |
fee | 1,466 | 1,466 | 1,356 | |||
| Professional Fees |
409 | 25,829 | 26,238 | 37,851 | |||
| 177,331 | 510,252 | 954 | 688,537 | 508,133 | |||
| Total resources expended | 177,331 | 513,686 | 954 | 691,971 | 508,127 |
| F | O | R THE YEAR ENDED | 31 DECEMBER 2021 | ||
|---|---|---|---|---|---|
| 5 | Staff costs | 2021 | 2020 | ||
| a | 8'ages and salaries, including | organist fees | 45,671 | 29,809 | |
| Social Security costs | 2,950 | 3,542 |
| Investment property |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||||||
| Funds | Funds | Funds | |||||||
| Previous Year value | 240,000 | 240,000 | |||||||
| Disposal 31/3/21. | (240,000) | (240,000) | |||||||
| Value at 31 December 2021 | |||||||||
| On 31 March 2021 the flat in Regnum | Court was sold | for f275,000 less costs incurred | in | relation to the | sale off7,721.The | ||||
| financial gain is included |
in the statement offinancial | activities for 2021 as a revaluation | at the time of | disposal. | |||||
| Fixed Assets | |||||||||
| Tangible fixed assets | |||||||||
| St | |||||||||
| Michaels | |||||||||
| Church | Office | fixtures | 8c | ||||||
| Furnishings | equipment | fittings | TOTAL | ||||||
| Cost or valuation | |||||||||
| At I January 2021 | 39,890 | 3,990 | 10,800 | 54,680 | |||||
| Additions | |||||||||
| Disposals | |||||||||
| At 31December 2021 | |||||||||
| Depreciation | |||||||||
| At I January 2021 | 39,620 | 3,990 | 9,415 | 53,025 | |||||
| Provided in the year |
1,385 | 1,385 | |||||||
| Disposals | |||||||||
| At 31December 2021 | 39,620 | 3,990 | 10,800 | 54,410 | |||||
| Net book amounts | |||||||||
| At 31December 2021 | 270 | 270 | |||||||
| At 31 December 2020 | 270 | 1,385 | 1,655 |
| Analysis o | fNet ass | ets by fu | nd | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total Funds | Total Funds | ||||||
| Funds | Funds | Funds | 2021 | 2020 | ||||||
| Fixed assets | for church use | 270 | 270 | 241,656 | ||||||
| Investment | fixed assets | 4,486 | 4,486 | 3,973 | ||||||
| Current assets | 119,825 | 367,954 | 9,607 | 497,387 | 408,624 | |||||
| Current liabilities | (6,805) | (102,848) | (109,653) | (102,320) | ||||||
| 117,777 | 265,106 | 9,607 | 392,490 | 551,933 | ||||||
| Debtors | ||||||||||
| Unrestricted | Restricted | Endowment | Total Funds | |||||||
| Funds | Funds | Funds | 2021 | 2020 | ||||||
| Income tax | recoverable | |||||||||
| Prepayments | and accrued income | 4,908 | 2,000 | 92 | 7,000 | |||||
| Accounts receivable | ||||||||||
| 4,908 | 2,000 | 92 | 7,000 | |||||||
| Creditors: | amounts | falling due | within | one | year | |||||
| Unrestricted | Restricted | Endowment | Total Funds | |||||||
| Funds | Funds | Funds | 2021 | 2020 | ||||||
| Deferred income | ||||||||||
| Accruals for utilities | and other costs | 6,805 | 6,805 | 7,330 | ||||||
| Pension Deficit -conditionally | long term | 37,100 | 37,100 | 37,100 | ||||||
| Archdeacon | Loan - | conditionally | due 2027 | 50,000 | 50,000 | 50,000 | ||||
| Other Creditors (inc | agency collections) | 15,748 | 15,748 | 7,890 | ||||||
| 6,805 | 102,848 | 109,653 | 102,320 |
| Bal b/fwd | .ODhD | v | Bal c/fwd | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| I Jan 2021 | Income | ~Ex enditure | Losses | Transfers | 31Dec 2021 | ||||||
| Unrestricted | Fund | ||||||||||
| General fund |
220 | 111,796 | (130,368) | (3) | 46,901 | 28,547 | |||||
| Designated | Boys Brigade/ Girl Guides | 400 | 119 | (420) | 99 | ||||||
| Designated | Choir Donations | 50 | 50 | ||||||||
| Designated | Church | Maintenance | 11,486 | 11,486 | |||||||
| Designated | Family Camp | 142 | 142 | ||||||||
| Designated | Food Bank | 45 | 123 | 168 | |||||||
| Designated | Homeless Breakfast |
4 | 50 | 54 | |||||||
| Designated | Ladies Group | 759 | 760 | ||||||||
| Designated | Meet & | Eat | 150 | 150 | |||||||
| Designated | New Staff | 16,250 | 20,490 | (12,534) | 24,206 | ||||||
| Designated | Rectory | Redecoration | 586 | 586 | |||||||
| Designated | Retreat | 276 | 276 | ||||||||
| Designated | Mission | Group | 3,681 | 1,772 | 5,454 | ||||||
| Designated | Stonepillow | 323 | 884 | (800) | 408 | ||||||
| Designated | PCC Reserve | I | 1 | ||||||||
| Designated | Kitchen | Fund | 33,745 | 673 | (30,550) | 3,868 | |||||
| Designated | Rectors | Discretion | 1,122 | 166 | (500) | 516 | 1,305 | ||||
| Designated | StMichaels | 37491 | 4 | 886 | (2,160) | (I) | 40,216 | ||||
| 106,734 | 140,958 | (177,331) | 512 | 46,901 | 117,777 | ||||||
| Restricted Fund | |||||||||||
| Organ Scholarship | 85 | 85 | |||||||||
| Parish Centre Development | 4,061 | 4,061 | |||||||||
| Building and Development | 158,716 | 143,828 | (290,529) | 8,000 | 20,015 | ||||||
| Goodwood | Festival | ofSpeed | 181,159 | (43,219) | 137,940 | ||||||
| Christus | 760 | 3,800 | 4,560 | ||||||||
| Sussex Community | - Covid Support | 4,941 | (6,245) | 1,304 | 0 | ||||||
| Youth Work &StJohns | 15,309 | 9,240 | (9,686) | 14,862 | |||||||
| Berhn | 930 | 930 | |||||||||
| Special Collections | 3,592 | 15,952 | (15,023) | 4,520 | |||||||
| Spemal Services | (453) | 453 | 0 | ||||||||
| Music Fund | 149 | 149 | |||||||||
| Church Furnishing |
I | 1 | |||||||||
| Organ Restoration | (1,188) | 1,188 | (0) | ||||||||
| Heritage Lottery | (19,753) | 10,075 | (3,661) | 13,340 | 0 | ||||||
| Building on |
Success | 180 | 180 | ||||||||
| Allen Trust | 267,329 | 26,982 | (145,324) | (71,186) | 77,801 | ||||||
| 434,659 | 391,036 | (513,687) | (I) | (46,901) | 265,106 | ||||||
| Endowment | Fund | ||||||||||
| Mary Gordon bequest | 10,540 | 21 | (954) | (I) | 9,607 | ||||||
| 10,540 | 21 | (954) | (I) | 9,607 | |||||||
| Total funds | 551,933 | 532,015 | (691,971) | 510 | 392,490 | ||||||
| Designated | Funds | ||||||||||
| Choir Donations to |
provide for | future choir expenses not covered by Mary Gordon | |||||||||
| Church Maintenance to provide |
for ma)or maintenance | and Quinquennial | report |
| TOTAL | TOTAL | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | FUNDS | Unrestricted | Restricted | Endowment | FUNDS | ||
| Funds | Funds | Funds | 2021 | Funds | Funds | Funds | 2020 | ||
| Incoming resources |
|||||||||
| Donations and legacies |
118,023 | 226,361 | 344,384 | 125,944 | 242,487 | 368,431 | |||
| Other trading activities | 22,167 | 137,694 | 159,861 | 13,664 | 1,982 | 15,646 | |||
| Income from investments | 97 | 21 | 118 | 318 | 22 | 169 | 508 | ||
| Income from church activities | 671 | 671 | 1,209 | 0 | 1,209 | ||||
| Other income | 26 982 | 26,982 | 9350 | 9,350 | |||||
| Total income and endowments | 140,958 | 391,037 | 21 | 532,016 | 141,135 | 253,840 | 169 | 395,145 | |
| Resources expended | |||||||||
| Expenditure on raising funds |
3,434 | 3,434 | (6) | (6) | |||||
| Expenditure on church activities |
177,331 | 510,252 | 954 | 688,537 | 132,156 | 374,963 | 1,014 | 508,133 | |
| Total resources expended | 177,331 | 513,686 | 954 | 691,971 | 132,156 | 374,957 | 1,014 | 508,127 | |
| Gains/(losses) on investments |
513 | 513 | 234 | 234 | |||||
| Gains/(losses) on investment |
property | 0 | |||||||
| Net incoming/(outgoing) resources before transfers |
(35,860) | (122,649) | (933) | (159,442) | 9,212 | (121,117) | (845) | (112,749) | |
| Gross transfers between funds |
46,901 | (46,901) | |||||||
| Net incoming/(outgoing) resources before other recognised gains/losses |
11,041 | (169,550) | (933) | (159,442) | 9,212 | (121,117) | (845) | (112,749) | |
| Net movement in funds |
11,041 | (169,550) | (933) | (159,442) | 9,212 | (121,117) | (845) | (112,749) | |
| Total funds brought forward |
at 1 January | 106,736 | 434,656 | 10,540 | 551,933 | 97,522 | 555,774 | 11,386 | 664,682 |
| Total funds carried forward at 31 | |||||||||
| December | 117,776 | 265,106 | 9,607 | 392,490 | 106,734 | 434,658 | 10,540 | 551,933 |