**St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** **Annual Financial Report of the Parochial Church Council of the Ecclesiastical Parish of St Mary’s, Sunbury-on-Thames for the Year Ending 31 December 2022** **Registered Charity No 1133834** St Mary’s Parish Office Parish Hall Green Street Sunbury-on-Thames TW16 6RN **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## **Contents** ||**Contents**|**Contents**| |---|---|---| |**1**|**Annual Financial Report for 2022 ............................................................................ 1-1**|| ||1.1|Introduction ....................................................................................................................................... 1-1| ||1.2|Accounting Policies ........................................................................................................................... 1-1| ||1.2.1|Funds ........................................................................................................................................ 1-1| ||1.2.2|Income ...................................................................................................................................... 1-1| ||1.2.3|Expenditure ............................................................................................................................... 1-2| ||1.2.4|Fixed Assets ............................................................................................................................. 1-2| ||1.2.5|Investments............................................................................................................................... 1-2| ||1.3|Financial Information ........................................................................................................................ 1-3| ||1.3.1|Summary of Financial Receipts and Payments ........................................................................ 1-3| ||1.3.2|Statement of Assets and Liabilities ........................................................................................... 1-4| ||1.3.3|Summary of Funds ................................................................................................................... 1-5| ||1.4|Notes to the Financial Report ........................................................................................................... 1-6| ||1.5|Financial Report Approval ................................................................................................................ 1-9| |**2**|**Independent Examiner’s Report .............................................................................. 2-1**|| ||2.1|Introduction ....................................................................................................................................... 2-1| ||2.2|Respective Responsibilities of Trustees and Examiner ................................................................... 2-1| ||2.3|Basis of Independent Examiner’s Statement.................................................................................... 2-1| ||2.4|Independent Examiner's Statement.................................................................................................. 2-1| **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## **Section 1** ## **Annual Financial Report for 2022** ## **1.1 Introduction** This Annual Financial Report for 2022 has been prepared for the Trustees of the Parochial Church Council (PCC) of the Ecclesiastical Parish of St Mary’s, Sunbury-on-Thames, a charity registered with the Charity Commission under reference 1133834, covers the accounting period from 1 January 2022 to 31 December 2022. The financial statements have been prepared in accordance with the Charities Act 2011 and Church Accounting Regulations 2006 together with applicable standards and the Charities Statement of Recommended Practice (SORP) except where detailed below. As the gross income of the charity from all sources is less than £250,000, the financial statements have been prepared under the receipts and payments convention except for the valuation of investment assets which are shown at market value. ## **1.2 Accounting Policies** ## **1.2.1 Funds** The funds for which the PCC is responsible are held in bank accounts with Barclays Bank plc and are listed in Table 2-1. **TABLE 2 – 1 FUNDS** |**TABLE 2 – 1**
**FUNDS**|| |---|---| ||**Nature of**
**Bank Accounts**| |**Unrestricted Funds**
St Mary’s Church
**Restricted Funds**
St Mary’s Parish Hall
Africa Fund
St Mary’s Church Restoration Fund
St Mary’s Parish Hall Restoration Fund|Current account
Current account
Deposit account
Deposit account
Deposit account| This Report includes all transactions, assets and liabilities for these funds 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. The affiliated fund, St Mary’s Endowment Fund is a separate charity, registered with the Charity Commission under reference 1069355 and prepares a separate annual financial report. Its income, expenditure and investment valuations are not included here. ## **1.2.2 Income** - Cash collections are recognised when received by or on behalf of the PCC. - Planned giving receivable under covenant is recognised when received. - Income tax recoverable on covenants or gift aid donations is recognised when received. This policy is contrary to recommended accounting practice but has been adopted as it is considered a practical approach and unlikely to result in a material difference from recognising the tax credit when the income is recognised. - Grants and legacies to the PCC are accounted for as soon as the PCC has been notified of its legal entitlement, the amount due and that title has been vested in the PCC. Page 1-1 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** - Funds raised by the various fairs and events are accounted for net, contrary to recommended accounting practice as insufficient records were maintained at the time of the events to facilitate recording gross takings. It is not considered that this approach is likely to lead to a material mis-statement of total income or expenses in the accounts. - Rental income from the Parish Hall is recognised when received. Amounts outstanding at 31 December 2022 are not considered to be material. - Dividends and interest receivable and corresponding tax credits are recognised when received. ## **1.2.3 Expenditure** - All payments are made by standing order, direct debit or bank transfer and are recognised when debited to the relevant bank account. No payments are made by cash. - All payments are supported by appropriate bank mandates or invoices. In the case of charitable donations where there is no invoice, these are agreed by the PCC or Standing Committee prior to payment. - All exceptional payments are agreed by the PCC or Standing Committee prior to payment. ## **1.2.4 Fixed Assets** - Consecrated and beneficed property is excluded from the accounts by s.96(2)(a) of the Charities Act 2011. - • No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a Diocesan Faculty for disposal since the PCC consider this to be inalienable property. - All expenditure incurred during the year on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities (SOFA) and separately disclosed. ## **1.2.5 Investments** Investments are valued at market value at 31 December 2022. Page 1-2 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## **1.3 Financial Information** ## **1.3.1 Summary of Financial Receipts and Payments** The summary of our receipts and payments (R&P) during the year is summarised in Table 2-2. ## **TABLE 2 - 2 SUMMARY RECEIPTS & PAYMENTS** ||**_Unrestricted_**|**_Unrestricted_**|**_Restricted_**|**_Endowed_**|**Total**|_Total_|**Notes**| |---|---|---|---|---|---|---|---| ||**General**
**Fund**
**£**|**Designated**
**Funds**
**£**|**Funds**
**£**|**Funds**
**£**|**All Funds**
**2022**
**£**|_All Funds_
_2021_
_£_|| |**Income and endowments**
Income from donors
Events & other income
Income from trading activities
Income from investments|102,860
17,822
7,978
72||||||**1**
**2**
**A&L**| |||-|204|-|103,064|_90,711_|| |||8,188|-|-|26,010|_9,006_|| |||-|41,450|-|49,427|_46,877_|| |||-|15|-|87|_72_|| ||||||||| |**Total income**|**128,731**|**8,188**|**41,688**|**-**|**178,588**|**_146,666_**|| |**Expenditure**
Charitable giving
Church work
Fund raising & publicity
Church administration|110
128,283
2,115
18,687||||||| ||||||||| |||1,302|-|-|1,412|_4,208_|| |||6,254|-|-|134,537|_112,428_|| |||-|-|-|2,115|_13,802_|| |||-|17,373|-|36,060|_27,802_|| ||||||||| |**Total expenditure**|**149,195**|**7,556**|**17,373**|**-**|**174,125**|**_158,240_**|| |_Reconciliation of funds:_|||||||| ||||||||| |**Net income (expenditure)**|**(20,464)**|**632**|**24,295**|**-**|**4,463**|**_(11,574)_**|| |Transfers between funds|20,006||||||| |||(125)|(19.881)|-|-|_-_|| |**Net movement in funds**|(458)|507|4,414|**-**|**4,463**|_(11,574)_|| |**Bank accounts at 1 January**|3,719||20,887|-|**24,606**|_34,632_|| |**Bank accounts at 31 December**|3,768||24,330|**-**|**28,098**|_23,058_|| Page 1-3 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## **1.3.2 Statement of Assets and Liabilities** The statement of our assets and liabilities (A&L) at the year-end is shown in Table 2-3. **TABLE 2 – 3 ASSETS & LIABILITIES** ||**_Unrestricted_**|**_Unrestricted_**|**_Restricted_**
**Funds**
**£**|**_Endowed_**
**Funds**
**£**|**_Total_**
**All**
**Funds**
**2022**
**£**|_Total_
_All Funds_
_2021_
£|**Notes**| |---|---|---|---|---|---|---|---| ||**General**
**Fund**
**£**|**Designated**
**Funds**
**£**|||||| |**Assets:**
Bank current accounts|3,768|-|24,330|-|28,098|_23,058_|**R&P**
**3**
**4**
**4**| |**Total bank and deposit accounts**|**3,768**|**-**|**24,330**|**-**|**28,098**|**_23,058_**|| |Credit in Statutory Fees account
Gift Aid recoverable (est)|1,333
12,000|-
-|-
-|-
-|1,333
12,000||| |**Debtors**|**13,333**|**-**|**-**|**-**|**13,333**||| |COIF (Wm Pembroke Charity)
COIF (Sunbury School or Parish Stock)|-
-|-
-|1,381
1,036|-
-|1,381
1,036|_1,563_
_1,172_|| |**Investment assets**|**-**|**-**|**2,417**|**-**|**2,417**|**_2,735_**|| ||||||||| |**TOTAL ASSETS**||**-**|**26,747**|**-**|||| |**Liabilities:**
Sundry creditors (2021)
Distribution of Christmas Collection
Contribution to Vicar’s retreat|-
1,000
500|-
-
-|-
-
-|-
-
-|-
1,000
500|_3,581_
_-_
_-_|| |**TOTAL LIABILITIES**|**1,500**|**-**|**-**|**-**|**1,500**|**_3,581_**|| ||||||||| Page 1-4 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## **1.3.3 Summary of Funds** Fund income and expenditure and final balances are shown in Table 2-4. **TABLE 2 – 4 SUMMARY OF FUNDS** ||**Balances at**
**1 Jan 2022**
**£**|**Income**
**£**|**Expenditure**
**£**|**Transfers,**
**other gains**
**and losses**
**£**|**Balances at**
**31 Dec 2022**
**£**| |---|---|---|---|---|---| |St Mary’s Endowment Fund|-|-|-|-|**-**| |**Total of all endowed funds**|**-**|**-**|**-**|**-**|**-**| |Church General Fund|3,719|136,919|156,877|20,006|**3,768**| |**Total of all unrestricted funds**|**3,719**|**136,919**|**156,877**|**20,006**|**3,768**| |Parish Hall General Fund
Africa Fund
St Mary’s Church Restoration Fund
St Mary’s Parish Hall Restoration Fund|5,289
333
8,841
6,424|41,450
204
133
6|17,373
-
-
-|(20,977)
-
-
-|8,389
537
8,974
6,430| |**Total of all restricted funds**|**20,887**|**41,793**|**17,373**|**(20,977)**|**24,330**| |**TOTAL FUNDS**|**24,606**|**178,712**|**174,250**|**(971)**|**28,098**| Page 1-5 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## **1.4 Notes to the Financial Report** 1. An analysis of the total income is shown in Table 2-5. **TABLE 2 - 5 ANALYSIS OF INCOME** ||**_Unr_es****_tricted_**|**_Unr_es****_tricted_**|||**Total**|_Total_|**Notes**| |---|---|---|---|---|---|---|---| ||**General**
**Fund**
**£**|**Designated**
**Funds**
**£**|**_Restricted_**
**Funds**
**£**|**_Endowed_**
**Funds**
**£**|**All Funds**
**2022**
**£**|_All Funds_
_2021_
_£_|| |Planned giving
On-line giving
Cash collections
Other donations & legacies
Gift Aid recovered|48,885
16,847
8,846
10,250
18,031||||||**5**
**6**
**7**| |||-|204|-|49,089|_49,994_|| |||-|-|-|16,847||| |||-|-|-|8.846|_8,170_|| |||-|-|-|10,250|_18,483_|| |||-|-|-|18,031|_14,064_|| |**Income from Donors**|**102,860**|-|**204**|-|**103,064**|**_90,711_**|| |Fairs & sales
Events
Bank interest
Grants
Other income
Designated funds
Retirement gift donations|448
3,217
77
2,641
11,438
**-**
-||||||| |||-|-|-|448|_541_|| |||-|-|-|3,217|_1,650_|| |||-|-|-|77||| |||**-**|**-**|**-**|2,641|_3,317_|| |||-|-|-|11,438|_2,437_|| |||8,188|-|-|8,188||| |||-|-|-|-|_1,061_|| |**Events & Other Income**|**17,822**|**8,188**|**-**|**-**|**26,010**|**_9,006_**|| |PCC wedding & funeral fees
Church hire
Parish Hall hire|7,678
300
-||||||| |||-|-|-|7,678|_11,293_|| |||-|-|-|300||| |||-|41,450|-|44,570|_23,711_|| |**Income from trading activities**|**7,978**|**-**|**41,450**|**-**|**49, 427**|**_35,004_**|| |Dividends & interest|72||||||| |||-|15|-|87|_72_|| |**Income from investments**|**72**|**-**|**15**|**-**|**87**|_72_|| |**TOTAL INCOME**|**128,731**|**8,188**|**41,668**|**-**|**178,588**|**_134,793_**|| Page 1-6 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## 2. An analysis of the total expenditure is shown in Table 2-6. **TABLE 2 – 6 ANALYSIS OF EXPENDITURE** ||**_Unrestricted_**|**_Unrestricted_**|||**Total**|_Total_|**Notes**| |---|---|---|---|---|---|---|---| ||**General**
**Fund**
**£**|**Designated**
|**_Restricted_**
|**_Endowed_**
|
**All Funds**
|
_All Funds_
|| |||**Funds**
**£**|**Funds**
**_£_**|**Funds**
**_£_**|**2022**
**£**|_2021_
_£_|| |Charitable giving|110||||||**8**
**9**
**10**
**11**
**11**
**11**| |||1,302|-|-|1,412|_4,208_|| |**Charitable Giving Total**|**110**|**1,302**|**-**|**-**|**1,412**|**_4,208_**|| |Diocesan Common Fund
Diocesan Statutory Fees
Assistant Priests' Fees
Organist Fees
Ministry / Mission Expenses
Utility Supplies
Insurance
Repairs & Maintenance
Supplies & Services
Retreat Expenses
Retirement Gift|82,000
6,680
5,946
7,810
6,726
7,038
4,304
4,092
3,688
-
-||||||| |||-|-|-|82,000|_70,200_|| |||-|-|-|6,680|_3,633_|| |||-|-|-|5,946|-|| |||-|-|-|7,810|_4,300_|| |||-|-|-|6,726|_8,829_|| |||-|-|-|7,038|_8,345_|| |||-|-|-|4,304|_4,545_|| |||-|-|-|4,836|_6,607_|| |||-|-|-|3,688|_3,519_|| |||6,254|-|-|6,254|_700_|| |||-|-|-|0|_1,750_|| |**Church Work Total**|**128,283**|**6,254**|**-**|**-**|**134,537**|**_112,428_**|| |Cost of Fetes & Bazaars
Advertising
SMCF Expenses|1,135
980
-||||||| ||||||1,135||| ||||||980||| |||-|-|-|**-**|_767_|| |**Fund Raising & Publicity Total**|**2,115**|**-**|**-**|**-**|**2,115**|**_767_**|| |Administrator Salary
Stewardship Expenses
General Office Costs
Parish Hall Operating Costs
Print, Post & Stationery
Bank Charges
Equipment|10,836
269
1,595
2,404
618
2,963||||||| |||-|-|-|10,836|_10,214_|| |||-|-|-|269|_129_|| |||-|-|-|4,744|_2,317_|| |||-|17,373|-|17,373|_14,531_|| |||-|-|-|2,404|_1,857_|| |||-|-|-|618||| |||-|-|-|2,963||| |**Church Administration Total**|**18,687**|**-**|**17,373**|**-**|**36,060**|**_29,048_**|| |**TOTAL EXPENDITURE**|**149,195**|**7,556**|**17,373**|-|**174,125**|**_146,451_**|| 3. The last Gift Aid claim covered donations made during the period 1 April 2021 to 31 March 2022 and a new submission will be made covering the period 1 April 2022 to 31 March 2023. It is estimated that a claim for approximately £16,000 will be made of which approximately £12,000 would be attributable to the period covered by this report. Page 1-7 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** 4. The PCC has the investments listed in Table 2-7 held in Trust on its behalf by the London Diocese Fund. The income is received by the PCC. **TABLE 2 – 7 INVESTMENTS** |**TABLE 2 – 7**
**INVESTMENTS**||| |---|---|---| |||| ||**Market Value**
**31 Dec 2022**
**£**|**Market Value**
**31 Dec 2021**
**£**| |76 shares COIF Charities Investment Fund (Wm Pembroke Charity)
57 Shares COIF Charities Investment Fund (Sunbury School or Parish Stock)|1,381
1,036|1,563
1,172| |**TOTALS**|**2,417**|**2,735**| 5. Legacies include an unrestricted bequest of £10,000 from the estate of the late John and Brenda Cairns. 6. The “Concorde Evening” event held in 2022 raised £3,217 towards the cost of two defibrillator units to be installed outside the Church and inside the Parish Hall. 7. Other income includes an unrestricted transfer of £10,688 from the closing account of Friends of St Mary’s (FOSM) which was disbanded in 2021. 8. The recipients of charitable giving during the year are shown in Table 2-8 **TABLE 2 – 8 CHARITABLE GIVING** |**TABLE 2 – 8**
**CHARITABLE GIVING**|**TABLE 2 – 8**
**CHARITABLE GIVING**||| |---|---|---|---| |||**2022**
**(£)**|**2021**
**(£)**| |**Parish Collections**|Children’s Society
Crisis at Christmas
A-CET
St Mary’s, Newington|662
500
-
-|92
-
1,175
500| |**Parish Donations**|Royal School of Church Music
Toilet Twinning
Macmillan
British Legion
Bishop Wand School
Bible Society
College of St Barnabas
Amaudo
Forever Angels
Apiculture Centre, Ethopia|110
31
140
-
-
-
-
-
-
-|107
41
-
25
400
300
50
500
500
100| ||**TOTALS**|**1,443**|**3,790**| Two further charitable payments were made in 2022 to Shelter (£500) and St Saviour’s Food Bank, Sunbury (£500), but these payments were not debited to the Church bank account until January 2023 and are therefore not recorded in the table above. 9. The Diocesan Common Fund is the parish’s contribution to the Diocese of London and represents 100% of the contribution agreed with the Diocese. Page 1-8 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** 10. The Diocesan Statutory Fees relate to the fees due to the Diocese for weddings and funerals held in the parish. 11. Remuneration of staff working on behalf of the PCC is listed in Table 2-9. **TABLE 2 – 9 STAFF COSTS** |||| |---|---|---| ||**2022**
**(£)**|**2021**
**(£)**| |Parish Administrator
Assistant Priests
Organist
Church & Parish Hall Cleaner|10,836
5,946
7,810
5,130|10,214
-
4,300
5,313| |**TOTALS**|**29,722**|**19,827**| The Assistant Priests, Rev S Douglas Lane and Canon R Morrison received payments for their regular support to the Vicar in running services and supporting parish activities. Rev S Douglas Lane also officiating at a number of weddings and funerals for which he received payment in accordance with the Diocesan scale of fees. Fees for the assistant priests in 2021 were not separately recorded, but were included under the heading of Ministry / Mission Expenses. Other payments were made to PCC members in the year for reimbursement of expenses incurred on behalf of the PCC: - a) Rev A Downes: Contribution to the running costs of the vicarage, travel and other expenses associated with the church amounting in total to £6,726. - b) Rev A Downes: Reimbursement of £489 for the purchase of a new computer for the Parish Office. - c) Mr A Wood: Reimbursement for the purchase of two defibrillators amounting in total to £2,303. ## **1.5 Financial Report Approval** This Financial Report for the year ended 31st December 2022, including the notes, was approved by the PCC and signed on its behalf by The Rev. Andrew Downes, PCC Chairman: Signed: ……………………………………… Date: ……………………………………… Page 1-9 **St Mary’s Church, Sunbury-on-Thames** **Annual Financial Report 2022** ## **Section 2** ## **Independent Examiner’s Report** ## **2.1 Introduction** This report on the accounts of the Parochial Church Council (PCC) of the Ecclesiastical Parish of St Mary’s, Sunbury-on-Thames for the year ended 31 December 2022, which are set out on pages 1-1 to 1-9, is in respect of an examination carried out under Regulation 31 of the Church Accounting Regulations 2008 and section 145 of the Charities Act 2011. ## **2.2 Respective Responsibilities of Trustees and Examiner** The PCC members are responsible for the preparation of the annual reports. The PCC members consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. It is my responsibility to: 1. examine the accounts under section 145 of the Charities Act, 2. to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and 3. to state whether particular matters have come to my attention. ## **2.3 Basis of Independent Examiner’s Statement** My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. ## **2.4 Independent Examiner's Statement** In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Charities Act or - the accounts do not accord with the accounting records I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: ……………………………………… Date: ……………………………………… Name: Costas Loizou ACMA CGMA Address: Figtree Accountancy Limited 25, Claremont Avenue Sunbury-On-Thames TW16 5LX Page 2-1