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|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|
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|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)||
|||Roderick Smith* (Treasurer)||
|||Chantal Tomlinson||
|||Martin Troy (until May 2021)||
|||Patricia Vincent- Townend||
|*Standing Committee|member|||
|Deanery Synod||Jill Goulding||
|||Margaret
Heald *||
|||Martin Tomlinson||
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|||||||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|
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||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|||||||||||||||
||Collections
are recognised
when received.|||||||||||||||
||Planned giving
receivable
is recognised
only when received.|||||||||||||||
||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.|||||||||||||||
||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.|||||||||||||||
||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.|||||||||||||||
||Unrealised
gains and losses are accounted for on revaluation
on 31December.|||||||||||||||
|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.|||||||||||||||
||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.|||||||||||||||
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||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|
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|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|
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|||||||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|
##
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|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|
##
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|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|
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|||||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|