# **THE PARISH CHURCH OF ST PETER & ST PAUL RUSTINGTON** **Registered Charity No. 1133812** ## **ANNUAL REPORT** **and** ## **FINANCIAL STATEMENTS** **of the** ## **PAROCHIAL CHURCH COUNCIL** For the year ended 31 December 2021 ## **CONTENTS** PCC (Trustees) Annual Report Treasurer’s Report Report of the Independent Examiner Statement of Financial Activities (SOFA) Balance Sheet Cashflow Statement Notes to the Financial Statements St Peter & St Paul Church, Rustington _Incumbent_ : Rev Natalie Loveless ## **Structure, Governance and Management** The Parochial Church Council (PCC) is registered with the Charity Commission as required by the Charities Act 2011. Its governing document is the Parochial Church Councils (Powers) Measure 1956. During the year, the following served as members of the Parochial Church Council: **Incumbent** : The Revd Natalie Loveless Ex-officio _(Chair)_ **Wardens** : Carrie McLeod _vice Chair_ Jackie Gordon Until APCM 2021 Henry Bott From APCM 2021 **Representative of** Liz Henderson Ex-officio **the Diocesan Synod: Representatives of** Carrie McLeod **The Deanery Synod:** Dot Mitcham From APCM 2021 **Elected Members** : Pam Brooks Until APCM 2021 Lesley Payne Re-elected APCM 2021 Dot Mitcham Until APCM 2021 Pamela Jones Steve Newman Jan Peacock Re-elected APCM 2021 Christopher Simmance Glyn Mathias Sarah Collins From APCM 2021 Gill Renny From APCM 2021 Di Kearsy From APCM 2021 Clare Birkhead From APCM 2021 Charlie Sims From APCM 2021 Jenny Everett From APCM 2021 **Treasurer** : Glyn Mathias **Appointed Officer Hon Secretary to PCC:** Jean Bulley 1 ## **Aims and Purposes** The primary objective of St Peter and St Paul’s PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. The PCC has the responsibility of co-operating with the incumbent, the Reverend Natalie Loveless, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. ## **Objectives and Activities** Our Vision/Mission statement: Working together in God’s Love for his Kingdom. Our services and worship put faith into practice through prayer and scripture, music and sacrament. When planning our activities for the year, the incumbent and the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on ‘charities for the advancement of religion’. We hope to enable local people to live out their faith as part of our parish community through: - Worship and prayer; learning about the Gospel; and developing their knowledge of, and trust in, Jesus. - Provision of pastoral care for people living in the parish. - Missionary and outreach work. To facilitate this work, it is important that we maintain the fabric of St Peter and St Paul, Rustington. ## **Achievements and Performance** Attendances remained down due to the pandemic. However, in October 2021 (when the average yearly attendance is calculated) the average weekly attendance was 153 which includes children and those online. The total last year averaged out to 144. There are 191 parishioners on the Church Electoral roll following a revision in 2020, this is up one from 190 the previous year. There was 1 wedding and 13 funerals. Baptisms were up from 3 in 2020 to 9 in 2021. ## **Review of the year** The full PCC met 8 times during the year. 4 of these were via zoom due to the pandemic, the average attendance at meetings was 14. The Standing Committee met 7 times. The PCC undertook the second and third sessions of PCC tonight – Why does the PCC exist? and What is the best way to conduct meetings? Sessions 4 – 6 were due to be undertaken at the planned Vision Awayday in September which, unfortunately, had to be cancelled. 2 Due to Covid 19 Committees and Groups only began meeting from September but reports were received by the full PCC and discussed where necessary. More detailed reports can be found under the reports section. Our Safeguarding Officer undertook the annual review and update of our Safeguarding of Children and Vulnerable Adults Policies which were accepted by the PCC in November. The PCC also reviewed our Anti bullying, Whistleblowing, E Safety and Responding to Safeguarding Allegation Policies. Any changes to Diocesan requirements are passed onto the PCC. Health & Safety matters are reported by the appointed members of the congregation to the Churchwardens and PCC as necessary. A GDPR (General Data Protection Regulation) representative ensures we are compliant with any new legislations. The policy is due to be reviewed and updated in 2022. The PCC reviewed and updated our Conflict of Interest and Investment Policies. A review of the Ministry groups to allocate members to the six main areas (Buildings and Grounds, Admin and Finance, Mission, Social and Outreach, Families, Pastoral Worship and Discipleship) was undertaken. They would be the link support and report back to the PCC as necessary. Generosity weeks were planned and held during July and August which resulted in a slight increase in the planned giving. We received a grant of £750, from the Parish Council, towards the upkeep of the churchyard. A proposal to close the Churchyard to burials was discussed and an application sent to the Ministry of Justice. Our Quinquennial inspection took place in September and the works required will be carried out in 2022. PCC members visited Community Hubs that are up and running to see if it is something we can provide in the future. Rev Laura Darrell led The Difference Course, which was well attended. In November a resolution was passed by the PCC to commence First Communion in our church. ## **Public Benefit** The church family welcome visitors from within and outside the church boundary. It is our pleasure to warmly welcome anyone from all walks of life who feel they would like to join in the life of St Peter and St Paul Rustington. During lockdown, in the first part of the year, services were live streamed offering people in the community, along with regular church family, the opportunity to be a part of the service. Rebecca of Family Support Work (FSW) is active with a group of volunteers in the village providing support to many in our parish. In October the St Peter and St Paul Pantry opened its doors to “shares God’s abundant love and generosity with our community”. See full report for more details. 3 J Squad (renamed ‘Rocks’) began again in September meeting 3 Sundays a month with an All-Age Service on the other Sunday. Family Afternoons were held either in church or the hall car park earlier in the year and from September they will be held on certain Sundays during the year. A trail around the churchyard was set up for families at Easter telling the Easter story ending in a visit into the church for children to receive an egg and goodies. At Harvest time our flower arranging team decorated the church with flowers and produce donated by the church family. We were able to host the Remembrance Sunday Service in our Church for the Community. Natalie led the service at the War Memorial at 11am. This year all the Christmas services went ahead as before lockdown. The yearly Christingle Service went ahead welcoming families into the church. A faithful team of people ‘church sit’ to enable the church to be opened to passing visitors or anyone in the local community wanting a quiet space. Noah’s Ark, an adult and toddler group, is a long-established form of outreach. It offered a weekly story time via Facebook, during lockdown, and returned in September to Tuesday afternoons offering friendship and support for families and carers. Messy Church remained online during the lockdown and returned to once a month from September. The PCC continues to support Messy Church, which meets in the church and provides an opportunity for families to meet together for craft activities and worship. Chatterbooks+ (now named Bolders) met online until September when they resumed meeting once a week on a Tuesday evening. A very varied programme was set up – see report for more details. **'** WAFFLE’ - Women About Fellowship, Fun, Laughter and Entertainment is a group that aims to demonstrate the love of God to women in Rustington and surrounding areas in a fun, inclusive and life-enhancing way. Men’s Fellowship group; although this is a Christian Society the emphasis is on social discussion and friendship. All faiths, concerns, cares or humanity are very welcomed. Our clergy officiated at funerals here in church and also at Worthing Crematorium providing support to the wider community in bereavement. Home Communion was able to be offered again once restrictions were eased. A decision was made to change our Charitable giving from a four-way split to three. Our two main chosen missions – Jaffa CMS (Kevin and Jen Cable) and Family Support Work have been supported during the year. The third split is a flexible pot – which can be used to give money to appeals/emergencies throughout the year. 4 Financial Review Financial Review The Statement of Financial Activtties (SOFA) shows that the Total Income from Unrestricted Funds was £101,477 and the Expenditure of Unreslricted Funds was £113,053 giving a deficit of £11,576. This equates to £965 per month. The Unrestricted Funds also indude income from investments amounting to £15,624 and wilhoul this income our defiat would have been £27,200 (a shortfall of £2,266 each month). The deficit btheen our income and expendrture continues to be a major cause of concem as we have a high dependence on investment income to meel our running Gosls. The PCC needs to address the issue of increasing our voluntary giving to enable us to meet our day-to4ay expenses froffl voluntary giving and fees. The largest expenditure of the PCC is the sum of £74.3001o the Diocese lo Cover our Pansh Ministry Contribution IPMCI. This year. because of our anticipated reduction in income, the PCC decided again to pay only our PMC and not pay an additional amount to assist other parishes to cover their PMC costs. Our total payment was £74,300 an increase of £265. Our voluntary income {see note 2(a) for further details) from envelopes, standing orders, PGS and plate collections together with all recoverable income tax was £69,517 compared with £71,353 in 2020. This is a decrease of approx. £1.836. During the year, our voluntary income (including tax recovered) from envelopes was down £2.500, collections were down £3,400. Standing Ordèrs were down about £1,000 but PGS increased by £3,2(X). Sundry donations have increased by £4,600 but our new onlin8 giving option was only £2125, which is down £1,500 from £3,619 in 2020 (all amounts exclude any tax recovered). £15,000 was transferred from the ReseNe investment to the Reserve bank account to enable £18,380 to be withdrawn from Reserves and spent during th8 year. The accounts are monitored by the Finance Group who report to the PCC. Roserves Policy It is PCC policy to endeavour to maintain a balance in the reserve bank account equal to approximately two months unrestncted expenditure as a contingency against unforeseen siluations. However, when wntten this policy could not have envisaged such situations as the pandemi¢ we have expenenced and in these dtfficutt times rt makes sense to hold greater reserves. Fortunately. a Reserve investment fund was set up some years ago and this has helped us through these difficult limes. The PCC endeavours not lo spend the capital, as the investment income replenishes the withdrawals from our Reserves bank a￿Ount. From time to time the PCC received restricted legacies for expendrture on particular purposes as defined by the donor. We airn to expend such money as soon a5 possible after receivin9 the legacy depending on the objectives specified by ihe donor. Where we have identified that the specific purpose Gan only be achieved by delaying the expenditure, Y￿ invest the legacy temporanly until such time as the need for the expenditure occurs. The PCC has investment funds for the Reserve Account with the CBF Church of England Fund, managed by CCLA Investment Management Limited. Approved by th• Parochial Church Council on Tuesday 22nd March 2022 and signed on its behalf J L Rev Natslie Loveless - Chair ## **PAROCHIAL CHURCH COUNCIL OF RUSTINGTON** ## **Treasurer/Finance Officer’s Report for the year ended 31 December 2021** ## **Introduction** As Treasurer, I have produced our Financial Statements in the format required by the Diocese, complying with the Church Accounting Regulations 2006 and the current 2015 Statement of Recommended Practice, Accounting and reporting by Charities SORP (FRS 102). The Parochial Church Council (PCC) is a fully registered Charity under Registration Number 1133812. The members of the PCC are the Trustees of the Charity. The PCC accounts comprise: - An independent examiner’s report – prepared by xxx xxxxx - The Statement of Financial Activities (SOFA) - The Balance Sheet - Notes to the Financial Statements - Notes (note 2) relating to incoming resources - Notes (note 3) relating to resources expended - Notes (notes 4, 5 & 6) relating to staff costs, fixed assets and investments - Notes (notes 7, 8, 9 &10) covering an analysis of net assets, debtors, creditors and a statement of funds - An explanation of the nature and purposes of the PCC’s various funds and the bank accounts in which they are held. - An explanation of the calculation of charitable giving ## **Note 2** Compared with 2020 our overall income increased by approx. £3,900 which, considering the continuing impact of the Pandemic, is encouraging. In July we held “Generosity” a series of sermons over 3 Sundays designed to encourage an increase in Giving, particularly using PGS. Our voluntary income (see note 2(a) for further details) from envelopes, standing orders, PGS and plate collections together with recoverable income tax was £69,517 compared with £71,353 in 2020. This is a decrease of approx. £1,836. During the year, our voluntary income (including tax recovered) from envelopes was down £2,500, collections were down £2,400, standing orders were down about £1,000 but PGS increased by £3,200 Sundry donations have increased by £4,600 and our new online giving option was only £2,125, which is down £1,500 from £3,619 in 2020 (all amounts exclude any tax recovered). £15,000 was transferred from the Reserve investment to the Reserve bank account to enable £18,380 to be withdrawn from Reserves and spent during the year. The PGS remains our preferred method of regular giving, being centrally administered on our behalf and relieving some of the administrative burden of Gift Aid claims. We were fortunate to receive a restricted grant of £750 from Rustington Parish Council towards the upkeep of the churchyard. The accounts are monitored by the Finance Team who report to the PCC. 6 ## **Note 3** Compared with 2020 (see note 3(c) for further details) our overall expenditure decreased by some £28,000. Changes in our expenditure included not having an Assistant Parish Administrator or paying £29,000 towards refurbishment of the church hall kitchen, Much of our usual expenditure was reduced for part of the year as many of our usual activities could not take place because the church and the hall were closed. The main expenditure under church activities was our Diocesan Contribution of £74,300 which was paid in full. This year we only paid the Parish Ministry Contribution (PMC) ## **Summary** I would like to say a very sincere thank you to all who have given to the church during another difficult year and particularly those who were able to increase their voluntary planned giving. Our ability to meet our running costs and to fund our many works and outreach to the Parish very much depends on the generosity of you all. Unfortunately, our income from voluntary giving does not match our expenditure. If anyone feels able to increase their giving, however small an amount, it will help in the task. The outcome of “Generosity” in July was very encouraging, but there is still work that needs to be done to tackle our underlying deficit. We are fortunate in having additional income in the form of legacies (but not this year), investment income and the rent from Henry Avenue. These sources, however, are not assured and cannot be permanently relied upon to help us meet the shortfall. Additionally, since 1984, the cost of all repairs to the church building has been met by the Humphrey Bequest. Hopefully most of you will know the members of the Finance team, if not it would be nice if you made their acquaintance. I want to give a big thank you to all who have helped me in my role as Treasurer. To Lisa who, as Finance Administrator, still does so much work in keeping the books and paying the bills. To Sue Clark, who joined the team in Summer 2020 as Finance Co-ordinator, and brought with her knowledge of bookkeeping, experience/expertise of spreadsheets and knowledge of other parishes. Sue inputs all the data on the computer which maintains the account records and produces financial reports for the PCC. To Michelle Dyne, as Freewill Offering Recorder, who claims the many thousands of pounds we receive from HMRC in Gift Aid. To John Hawkins, who manages our payroll and does endless battle with utility companies. It has been another interesting but difficult year trying to understand how the financial system works and trying to prepare the end of year accounts. I had looked forward to 2021 when I had hoped we could improve our reporting of the church’s financial position to the PCC and church family. Although we have made much progress the Pandemic has not helped in our quest to learn more and improve matters. ## **Glyn Mathias** ## **Hon Treasurer - PCC of Rustington** 7 CHARITY COMMISSION , Independent examinerfs report on the ' FOR ENGLAND AND WALES ' accounts Section A Independent Examiner's Report Report to th• tru*t•• membern of The PCC ol the Ecdesiastical Pansh of St Peter & St Paul Rustington On •¢¢ount• for th• yur •nd•d 31* DeCem￿r 2021 Charfty no 111 any) 1133812 Set out on pages 21 I report lo the trustees on my examination of the accounls of the above charity (Ihe Trust") for the year ended 31112r21. R••pon9lbllld￿ and ba•1• of r•port As the chantys trustees, you are responsible for the preparation of the accounts in accordance wrth the requirements of the Chanties Act 2011 (Ihe Act") I report in respect of my examination of the Trusl's accounts fArried out under section 145 of the 2011 Act and in carying out my examination, I have followed all the applicable Direction8 given by the Charity Commi88ion under section 145(5){bl of the Act. Ind•p•nd•nt I have completed my examination. I confim that no m8terial m8tt6rn have •xamln•rf8 •tatoment come to my attention in connection with the examination whi¢h gives me cau80 to believe that in. any material re8pec#". the accounting record8 ware not kept in accordance with section 130 of the Chartties Act.. or the accounts did not accord with the accounting records,. or the accounts did not Comply with the applicable requirements conceming the fomi and content of account8 set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement Ihat the accounts give a 'true and fair. view which is not a matter considered as part of an independent examination. I have no concems and have ccrfne across no other matters in connection with Ihe examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slgned: Date: 06 105 12022 Nam•: Sarah Mccurrach Relevant professional I i K SA. qualification{sl or body (If any): Addres•: 18 Okl Manor Road, Rustington BN16 3QS ## **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2021** |Notes
**Incoming resources**
_Voluntary income_
2a
_Legacies_
2a
_Activities for generating funds_
2b
_Income from investments_
2c
_Church activities_
2d
_Other incoming resources_
2e
**Total incoming resources**
**Resources expended**
_Costs of generating voluntary income_
3a
_Fund-raising trading costs_
3b
_Church activities_
3c
_Charitable giving_
3c
_Governance Costs_
3d
**Total resources expended**
**Net incoming/outgoing resources before**
**transfers**
_Gross transfers in_
5a
_Gross transfers out_
**Net incoming/outgoing resources before**
**other recognised gains/losses**
_Gains/losses on revaluation of fixed assets_
6b
_and investments_
_Gains/losses on disposal investment assets_
**Net movement in funds**
Total funds brought forward at 01 January 2021
**Total funds carried forward on 31 December 2021**|**TOTAL**
TOTAL
Unrestricted
Restricted
Endowment
**FUNDS**
FUNDS
Funds
Funds
Funds
**2021**
2020
£
£
£
**£**
£
79,125
802
0
**79,927**
79,102
0
**-**
2,273
252
2,186
**2,438**
469
15,624
5,647
**21,271**
23,287
6,476
1,857
**8,333**
2,948| |---|---| ||**101,477**
**4,845**
**5,647**
**111,969**
108,079| ||1,168
**1,168**
113,038
9,166
-2,900
**119,304**
149,822
0
5,680
**5,680**
4,770
15
**15**
15| ||**113,053**
**16,014**
**-2,900**
**126,167**
154,607| ||**-11,576**
**-11,169**
**8,547**
**-14,198**
-46,528
174
3,420
33,201
**36,795**
13,617
-3,449
-33,346
**-36,795**
-13,617| ||**-14,851**
**-41,095**
**41,748**
**-14,198**
-46,528
4,030
42,318
**46,348**
24,495
811
**811**
-14,492| ||**-10,010**
**-41,095**
**84,066**
**32,961**
-36,525| ||398,656
19,652
217,334
**635,644**
672,167
**388,646**
**-21,443**
**301,400**
**668,605**
635,644| 9 PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON BALANCE SHEET at 31 DECEMBER 2021 Notes 2021 2020 Fixod assets Tangible fixed assets 6a 69,250 69,250 Investment fixed assets 6b 421.905 390.643 Total fixed assets 491.155 459.893 Current assèts Cash al bank and in hand Short term deposits Debtors 7b 7b 62,2Ck8 99,238 19.379 180,823 62,727 95,253 21,721 179,701 Creditors." amounts falling due wrthin one year -3,373 -3.950 Net current assets 177,450 175,751 Total assgts less eurrènt liabllttle$ 668,605 635,644 c￿dItOrS.. amounts falling d4Je after one year NET ASSETS 7a 668,605 635,644 Funds Unrestrlcted funds 10 410,888 401,622 Restricted funds 10 6,935 4.010 Endowment funds 10 250,782 230.012 TOTAL FUNDS 10 668.605 635,644 Approved by the Parochial Church Council on 22 March 2022 and signed on its behalf. Rev. Natalie Loveless Chairman Treasurer The accompanying notes form a part of these financial ststements. io **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1. Accounting policies** ## **a Accounting convention** The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with applicable accounting standards and the current 2015 Statement Of Recommended Practice, Accounting and Reporting by Charities SORP (FRS 102). The financial statements have been prepared under the historical cost convention as modified by the inclusion of investments 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 affiliation to another body, nor those which are informal gatherings of church members. ## **b Funds accounting** Funds held by the PCC are: _Unrestricted funds_ - general funds which can be used for PCC ordinary purposes _Designated funds_ - monies set aside by the PCC out of unrestricted funds for specific future purposes or projects. _Restricted funds_ - a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest; 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 the year is carried forward as a balance on that fund. _Endowment funds_ - funds the capital of which must be maintained; only income arising from the investment of the endowment may be used, either as restricted or unrestricted funds, depending on the purpose set out in the terms of the original endowment ## **c Incoming resources** All incoming resources are accounted for gross. ## _**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 PCC is legally entitled to the amount due. Where services are provided free and are quantifiable they are recognised at fair value. ## _**Income from investments**_ Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. ## _**All other income**_ All other income is recognised when it is receivable. ## _**Gains and losses on investments**_ Realised gains are recognised when the investments are sold Unrealised gains and losses are accounted for on revaluation on 31 December. 11 **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021** ## **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 when paid. Any parish contribution unpaid at 31 December 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 of any kind is excluded from the accounts by s.10(2) of the Charities Act 2011. Moveable church furnishing held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted as an inalienable property unless consecrated. They are listed in the church's inventory which can be inspected but are not included in the financial statements. All expenditure on consecrated or beneficed buildings and individual items costing under £1000 are written off in the year they were incurred. ## _**Depreciation**_ Depreciation is calculated to write down the cost of tangible fixed assets, excluding freehold properties, over their expected useful lives. The rates generally applicable are: Fixtures and fittings 25% straight line Audio visual equipment 30% straight line Office equipment 20% straight line No depreciation is provided on freehold property as it is the PCC's policy to maintain these assets in a continual state of sound repair. The useful economic life of these assets is so long and residual values so high that any depreciation would not be material. These assets will be subject to annual impairment reviews. Provision will be made if there has been any permanent diminution in value. ## _**Investments**_ Investments are stated at market value at the balance sheet date. ## **f Current Assets** Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable. Short-term deposits include cash held on deposit either with the CBF Church of England Funds, or at the bank. 12 **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2021** |**2**
**Incoming resources**
**a**
_Voluntary income_
Planned Giving - Yellow Envelope Giving
Planned Giving - Standing Orders
Planned Giving - Parish Giving Scheme
Collections at all services
Collections - Pink Envelope
Votive Candles
Sponsored Newsheet
Wall Safe Donations
Sundry donations
On Line Donations
Income tax recoverable
Income tax recoverable - PGS
Grants
Messy Church
Noahs Ark
Legacies
Total
**b**
_Activities for generating funds_
Fund Raising Events
Fund raising for Missions
**c**
_Investment income_
Dividends
Bank Interest
Rental 23 Henry Avenue
**d**
_Income from Church Activities_
Fees from weddings, funerals etc
Bolders
Coffee Break
Coffee Income - Sunday
Mens Fellowship
Friendship Lunches
Copier/Printer
Allotment Income
Waffle
Peters Pantry
Seasight
**e**
_Other incoming resources_
Other Resources
**Total incoming resources**|**TOTAL**
TOTAL
Unrestricted
Restricted
Endowment
**FUNDS**
FUNDS
Funds
Funds
Funds
**2021**
2020
£
£
£
**£**
£
3,141
**3,141**
6,447
1,344
**1,344**
2,324
48,135
**48,135**
44,965
2,401
**2,401**
4,880
1,653
**1,653**
391
**391**
64
75
**75**
180
9
**9**
9
7,008
**7,008**
2,427
2,125
**2,125**
3,619
2,283
**2,283**
2,967
10,560
**10,560**
9,770
802
**802**
1,450| |---|---| ||79,125
802
**79,927**
79,102
2,273| ||**79,125**
**802**
**79,927**
81,375| ||252
**252**
469
2,186
**2,186**| ||**252**
**2,186**
**2,438**
469| ||5,449
5,644
**11,093**
10,693
53
3
**56**
84
10,122
**10,122**
12,510| ||**15,624**
**5,647**
**21,271**
23,287| ||3,433
**3,433**
1,163
950
**950**
708
**708**
466
215
**215**
305
102
**102**
28
1,023
**1,023**
578
5
**5**
58
350
1,857
**1,857**
40
**40**| ||**6,476**
**1,857**
**8,333**
2,948| ||| ||| ||| ||**101,477**
**4,845**
**5,647**
**111,969**
108,079| 13 PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON NOTES TO THE FINANCLAL STATEMENTS Icontlnu*Jl For the year gnded 31 December 2021 Resources expended Unrestricted Restricted EndowTnent TOTAL Funds Funds Funds FUNDS 2021 TOTAL FUNDS 2020 Costs of generating Yo￿ntary incon FurK1-ra￿In9 tradin9 Costs 1.168 1.168 Chu￿￿ Actlvtths Missionary and charitabla 9ivin9'. Charitable giwng Charitable Contribution over PMC. Mlsslons 5,680 5,680 4.620 150 4.770 5.680 5.680 Minigtry costs.. Diocesan Parish Mlnlstry Costs. Dlocosan & Deanery Support Assistant Clargy Vicarage expense$ Ilnc Tell & V Tel Clergy expenses Mlsslon & Evang8llsm Youn9 Peoplè Expèns•￿CYw1R1Xk3 Mens Fellowship Mossy Church Noahs Ark Boldèrs Peters Pgntry Waffl¢ SalarS8s'. OrganSsts & MusSc Leader Parlsh Admln & Assistant Church runnin9 exp¥ns Electdclty Gas Watèr Ratès Insurance. malntènancè. laundry ètt. Support Offlco expenses Church malntènancèlOth8r Malnt8nanc• Or9an mahtenanco AV maintenance Sor￿are and w•bsrt• Upkeép of st￿ceS Wln8,wafer5 & candle5 Music Expen$e51Materialg Flowers for Church Upkeèp of churchyard Upkeep of r8nt8d property". 23 HenryAvenuè Cost of Rental- 23 Hgnry Avenue IFoe$l Malor repairs lo Vicarag• Rèordèrlng Account Expandttura Alotment C*)ffee Break & Sunday Coffee Friendship Lunches Bank chargès Sumup f88s Church Hall 74.300 74,300 74.035 1.030 2.765 1,030 2,765 2.828 213 71 175 690 71 175 690 45 299 30 1,416 110 2,310 7,574 1,416 110 2.310 7.574 50 1.458 9.431 1.974 1.809 158 4.627 923 1,974 1,809 158 4,627 923 1.146 1.873 160 4.350 996 954 545 1.523 349 545 1,523 134 595 671 595 671 355 690 105 1.490 2.671 2.098 2.358 5.140 267 2,358 5,140 267 1.071 954 2,025 13.000 102 102 900 120 43 3,740 119,304 668 968 120 120 43 6.796 9,166 -2.900 -2,900 29.679 154.592 113,038 Gov•manca costs Support 15 15 15 15 Totsl resources expendwj 113,053 16,014 .2,900 126,167 154.607 'The Charttatjle ContrSbutSon over Parlsh Minlsty Costs 1£ n511 plus the Diocesan Parish MSnlstry Costs1£74.3001 maka up the total Dloctsan Patlsh ContrbU￿0nI£74.3oQ1. 14 ## **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2021** |**NOTES TO THE FINANCIAL STATEMENTS (continued)**
**For the year ended 31 December 2021**||| |---|---|---| |**4**
**Staff Costs**
**a**
_Wages and salaries_
During the year the PCC employed a Parish Administrator,
various organists & a music leader, all part-time.|**2021**
**£**
**9884**|2020
£
10,889| |||| - **b** _Payments/Reimbursements to PCC members & Family Members_ S Collins £350.44, G Renny £255.69, C Birkhead £120.00, G.Mathias £135.00, A Mathias £243.44, G Jones £982.00 and C.McLeod £216 ## **5a Analysis of transfers between funds** |||Transfers In|Transfers Out| |---|---|---|---| |||£|£| |General Fund|}|174|3,449| |Designated Fund|}||| |Phillipa Senst|}||| |Restricted||3,420|33,346| |Endowment||33,201|| |Total||**36,795**|**-36,795**| |**6 Fixed Assets**
**a Tangible fixed assets**
**Cost**
At 1 January 2021
Additions
Disposals
Revaluation
At 31 December 2021
**Depreciation**
At 1 January 2021
Provided in the year
Disposals
At 31 December 2021
**Net book amount at 31 December 2020**|Freehold land
**TOTAL**
and buildings
£
£
69,250
**69,250**
69,250
**69,250**
69,250
**69,250**| |---|---| The Freehold land and Buildings comprise 23 Henry Avenue, Rustington. This property is let on a tenancy arrangement at £12,600 per annum. The value is shown at its historic cost in 1988. 15 **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2021** ## **6 Fixed Assets** (continued) |**b**
**Investment fixed assets**
Unrestricted:
Loan for Cottage Refurbishment
Reserve Fund (Faulkner)
Endowed:
Brown (Fabric) Fund
Burial Ground Trust Fund
Chancel Trust (Fabric) Fund
Everett/Scott Fund
Endowment (Stipend) Fund
CBF Equity Fund (P Senst)
CBF Global Eq. Fund (P Senst)
**Total**
**7a Analysis of Net Assets by Fund**
Fixed assets for church use
Investment fixed assets
Current assets
Current Liabilities
Long term liabilities
**Total**
**b**
**Analysis of Current Assets**
Debtors
Current A/c
Multiple funds
Reserve A/c
Burial Ground Trust A/c
Fabric A/c
Chancel Trust (Fabric) A/c
CBF Deposit Fund (P Senst)
Total|Bal. b/fwd
New Investmts Gains/losses
**Bal. c/fwd**
01/01/2021
**31/12/2021**
£
£
£
**£**
18,641
**18,641**
60,949
-15,000
4,030
**49,979**
19,927
2,582
**22,509**
158,299
17,522
**175,821**
2,172
310
**2,482**
517
-34
**483**
56,289
9,900
**66,189**
73,850
11,951
**85,801**|Bal. b/fwd
New Investmts Gains/losses
**Bal. c/fwd**
01/01/2021
**31/12/2021**
£
£
£
**£**
18,641
**18,641**
60,949
-15,000
4,030
**49,979**
19,927
2,582
**22,509**
158,299
17,522
**175,821**
2,172
310
**2,482**
517
-34
**483**
56,289
9,900
**66,189**
73,850
11,951
**85,801**| |---|---|---| ||**390,644**
**-15,000**
**46,261**
**421,905**|| ||Unrestricted
Restricted
Endowment
**Total Funds**
Funds
Funds
Funds
**2021**
£
£
£
**£**
69,250
**69,250**
68,620
353,285
**421,905**
144,719
6,935
29,171
**180,825**
3,375
**3,375**|| ||**279,214**
**6,935**
**382,456**|**668,605**| ||19,379
1,808
13,885
6,935
10,409
9,957
19,214
99,238|**19,379**
**1,808**
**20,820**
**10,409**
**9,957**
**19,214**
**99,238**| ||**144,718**
**6,935**
**29,172**|**180,825**| In 2013 the PCC agreed to divide the Philippa Senst bequest, to minimise risk until it was spent. The money is invested in two CBF Funds [ **see 6b Investment Fixed Assets** ] and a deposit account [ **see 7b Analysis of Current Assets** - CBF Deposit Fund]. |**8 Debtors**
HMRC - Income tax recoverable
Income/accounts Receivable
Diocese of Chichester (Chancel Fund)|**2021**
2020
**£**
£
1,405
-937
20,316
20,316| |---|---| ||**19,379**
21,721| 16 PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL RUSTINGTON NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2021 9 Creditors: amounts falling due within one year 2021 2020 Accruas- HMRC {PAYE) Electricity SS1 320 374 253 2,370 Charrtable GTwng Accounts Paya)le Ipartl Agency 226 2.586 633 Totsl 3,373 3,950 10 Ststement of funds 8a1 blfvvd 1 Jan 2021 Overall changes linco￿. ExF•ndituro, Transfws and c¢her gains and lossgs Bal clhvd 31 Dec 2021 Unrestrictod Funds General fund OesKJnaled Fund Reserve Fund 8equesl- P Sensl 70,468 1,690 73,222 256,242 401,622 -3,723 -13 -12,835 25,837 9,266 66,745 1,677 60,387 282,079 410,888 Restricted Funds Restricted Fund 4,010 4,010 2,¥25 2,925 6,935 6,935 Endowmgnt Funds Burial Ground Fund Brown {Fabr￿) Fund Chan¢d Trust Fund Everettlscott Fund Stipend Fun¢*unnaThd 168,442 38,&fj5 20,316 2.172 517 230,012 17,336 3.158 185,778 41,723 20,316 2,482 310 20.7TO 250,782 Total funds 635,644 32,961 668,605 The above table shctNs the tola vaue of al the funds hekl by Ihe PCC and the balance clfvvd total fcf each fund indudes both c4)iial and inccthe. The Healey fund is included in ReStr￿ted fund. 11 Rdated parties and transactions A loan was made to the Church Hall Trustees (V&CI for the refurbishment of the Cottage I see note 6bl to be repaid from future rents receivable. A repayment of £8,OCQ made in 2020. However, the Vicar suggested that the PCC might consider using scffle of their reserves to pay fcy the outstanding loan. The PCC ￿reed proposal and the money will be paKI in 2022. 17 **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2021** ## **12 Contingent Liabilities** There are no known contingencies ## **13 Contractual Liabiliies** There are no known contractual liabilies ## **14 Chancel Trusts** In December 2019 the Diocese of Chichester advised parishes that from 2020 the way in which Chancel trusts will be dealt with would change. Chancel trusts are not PCC trusts. In future income from Chancel trusts will be paid dirctly to PCCs and can be used towards the cost of insuring their church. The money PCCs receive from the Chancel trusts is not investment income as the PCC does not own the trust fund nor the investments. The accumulated trust income from past years is to be treated as a debt to the PCC from the Chichester DBF. PCCs have been told to remove the value of the Investment as an asset from their accounts and and include the accumulated income not received from the Diocese as a Diocesan debt. The required actions have been taken. 18 ## **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2020** ## **Funds** The figures shown in **Note 7b Analysis of Current Assets** show the amounts available to the PCC under the headings of **Unrestricted, Restricted** and **Endowed.** The following explains the nature of the various funds, the purposes for which they may be expended and the bank accounts in which they are held. ## **Funds/Bank Accounts** The **General Fund** , held in a **Current Account** , is **Unrestricted** . The General Fund is used to receive and pay everyday income and expenditure. The **Reserve Fund** is held in the **Reserve Account** and is **Unrestricted** . This fund was set up in 1988 with an initial investment of £25,000 in the Central Board of Finance Church of England Investment Fund and Fixed Interest Securities (CBF). The fund receives quarterly dividend income from the capital sum invested, to top up the Reserve Account. The PCC wishes, as far as possible, **to retain the capital investment of the fund and to spend only its income.** ## **Multiple Funds Account** : This account contains designated and restricted funds for various church activities/groups and projects. Further detail below: ## Designated Funds Waffle, Allotment, Men’s Fellowship, Friendship Lunches, Seasight, Office Machinery, Organ Maintenance and P Senst Bequest. Should these funds not be needed for their original purpose they can be re-designated by the PCC. ## Restricted Funds *Healey Fund (choir), Choir Furniture, Bolders, St Peter's pantry, Ecclesiastical Vessels, Missions and Humphrey (repairs). Being amounts donated/raised for a specific purpose, these funds are Restricted and cannot be re-designated to another use. *( **Healey** – holds donations made in 1983 in memory of Mr T A Healey who had been organist for more than 50 years. The fund may be used at the discretion of the PCC for any purpose connected with the choir.) 19 ## **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31 December 2021** ## **Funds (continued)** The following funds are **Endowment Funds** . The capital sums are held by the Diocese as Custodian Trustee and may only be used in exceptional circumstances and with their permission. The income from these investments can be used but is restricted according to the terms of each respective fund. The **Burial Ground Trust Fund** receives income from a capital investment in the Central Board of Finance of £38,138 being one half of the proceeds of the sale of the “New” Burial Ground in Worthing Road, in 1984. The income may be used for expenditure on the buildings of the church, the church hall and the vicarage but not for general expenditure. The **Fabric Fund** receives dividend income from a capital investment with the Central Board of Finance. The income may only be used for the maintenance and repair of the church fabric. The following are further investments over which the PCC has limited control. The funds are held by the Diocese on behalf of the PCC and may be used only on application to the Diocese. The **Everett/Scott Fund** is an investment of 106.00 CBF Investment Fund (Income) Shares whose value is recorded as an endowment fund. **The Stipend/Unnamed Endowment Fund** is an investment of 305.00 CBF Fixed Interest Security (Income) Shares whose value is recorded as an endowment fund. The following fund is not a PCC Fund and is managed by the DBF. **The Chancel Trust Fund** is an investment of 756.00 CBF Investment Fund (Income) Shares. The accumulated income is restricted to expenditure on the fabric (but not the fittings) of the chancel and is held by Chichester DBF. Starting in 2020 the income will be paid to the PCC and can be used towards the cost of insuring the church. 20 ## **PAROCHIAL CHURCH COUNCIL of ST PETER & ST PAUL, RUSTINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** **For the year ending 31 December 2021** ## **Charitable Giving** Charitable Giving this year has included donations to home and overseas missions and charities. This is calculated with reference to the total income from the Parish Giving Scheme (PGS), Standing Orders and the regular giving received in the Yellow Envelopes. A budget figure is agreed at the beginning of the year of 10% of the expected income from these sources. At the end of the year, an actual figure is calculated and any excess distributed. The giving is split three ways. The recipients are two named charities* (which are agreed by the PCC following input from the Missions Committee), and a charitable fund, which can be allocated to various charities at the PCC’s discretion. Any other money raised by the church for charity/missions during the year will also be allocated in this way. ## Calculation of Charitable Giving |In 2021 the total income from PGS,
Standing Orders and Yellow Envelopes was
Charitable Giving (if calculated at 10%)
**Distribution in 2021 to each recipient**
FSW
£1,500
CMS – Jaffa
£1,500
Charitable fund (held in Restricted fund)
£1,500
**Balance paid to recipients in 2022 (3 x £254)**
**Total**|£52,620
£5,262
£4,500
£762
**£5,262**| |---|---| * In 2020 the PCC agreed to support Kevin and Jen Cable (CMS - Jaffa project) and the Family Support Work (FSW) Charity. 21