| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 5 | |
| Independent Exam incr's Report |
||||
| Statement ofFinancial Activities |
||||
| Balance Sheet | ||||
| Cash Flow Statement | ||||
| Notes to the Cash Flow Statement | ||||
| Notes to the Financial Statements | 11 | to | 21 | |
| Detailed Statement ofFinancial | Activities | 22 | to | 23 |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | |||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
2 | 124,256 | 23,485 | 147,741 | 462,635 | ||
| Charitable activities |
|||||||
| Church activities | 6,531 | 6,531 | 12,067 | ||||
| Investment income |
35,323 | 35,323 | 28,376 | ||||
| Total | 166,110 | 23,485 | 189,595 | 503,078 | |||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Church activities | 132,356 | 62,233 | 194,589 | 217,137 | |||
| Net gains on investments | 1,535 | 1,535 | 3,564 | ||||
| NET INCOME/(EXPENDITURE) | 35,289 | (38,748) | (3,459) | 289,505 | |||
| Transfers between funds |
I5 | ~40,676) | 40,676 | ||||
| Net movement in funds |
(5,387) | 1,928 | (3,459) | 289,505 | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 941,030 | 7,010 | 948,040 | 658,535 | ||
| TOTAL FUNDS CARRIED FORWARD | 935,643 | 8,938 | 944,581 | 948,040 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | ||||||
| FIXEDASSETS | ||||||
| Tangible assets |
11 | 462,687 | 462,687 | 462,784 | ||
| Investments | 12 | 25,547 | 25,547 | 24,012 | ||
| 488,234 | 488,234 | 486,796 | ||||
| CURRENT ASSETS | ||||||
| Debtors | 13 | 16,910 | 380 | 17,290 | 20,121 | |
| Cash at bank and in hand | 440,269 | 34,462 | 474,731 | 474,277 | ||
| 457,179 | 34,842 | 492,021 | 494,398 | |||
| CREDITORS | ||||||
| Amounts falling due within |
one year | 14 | (9,770) | (25,904) | (35,674) | (33,154) |
| NET CURRENT ASSETS | 447,409 | 8,938 | 456,347 | 461,244 | ||
| TOTAL ASSETS LESSCURRENT | ||||||
| LIABILITIES | 935,643 | 8,938 | 944,581 | 948,040 | ||
| NET ASSETS | 935,643 | 8,938 | 944,581 | 948,040 | ||
| FUNDS | 15 | |||||
| Unrestricted funds |
935,643 | 941,030 | ||||
| Restricted funds | 8,938 | 7,010 | ||||
| TOTAL FUNDS | 944,581 | 948,040 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from operating | activities | ||||
| Cash generated from operations |
I | ~34,869) | 260,529 | ||
| Net cash (used in)/provided | by | operating | activities | ~34,869) | 260,529 |
| Cash flows from investing | activities | ||||
| Interest k dividends from Investments |
2,313 | 1,776 | |||
| Property rental income |
33,010 | 27,350 | |||
| Net cash provided by investing |
activities | 35,323 | 29,126 | ||
| Change in cash and cash |
equivalents | in | |||
| the reporting period |
454 | 289,655 | |||
| Cash and cash equivalents | at | the | |||
| beginning ofthe reporting |
period | 474,277 | 184,622 | ||
| Cash and cash equivalents | at | the end | of | ||
| the reporting period |
474,731 | 474,277 |
| OPERATING ACTIVI | TI | ES | |||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Net (expenditure)/income | for the reporting | period (as per the | |||
| Statement ofFinancial | Activities) | (3,459) | 289,505 | ||
| Adjustments for: |
|||||
| Depreciation charges |
97 | 5,461 | |||
| Gain on investments | (1,535) | (3,563) | |||
| Interest received | (2,313) | (1,776) | |||
| Property rental income | (33,010) | (27,350) | |||
| Decrease in debtors Decrease in creditors |
2,831 2,520 |
546 ~1,2023 |
|||
| Net cash (used in)/provided | by operations | ~34,8693 | 260,529 |
| ANALYSIS OF CHANGES IN NET FUND | S | ||
|---|---|---|---|
| At 1.1.20 | Cash flow | At 31.12.20 | |
| Net cash | |||
| Cash at bank and in hand | 474,277 | 454 | 474,731 |
| 474,277 | 454 | 474,731 | |
| Total | 474,277 | 454 | 474,731 |
| 2020 | 2019 | |||
|---|---|---|---|---|
| Collections at all |
services | 4,273 | 19,455 | |
| Gift aid donations | 51,862 | 43,350 | ||
| Income tax recoverable | 15,346 | 17,392 | ||
| Legacies | 315,430 | |||
| Grants | 13,174 | 20,400 | ||
| Donations - St Pancras International |
2,361 | 3,229 | ||
| Sundry donations | and other income | 36,518 | 16,356 | |
| Other planned giving |
4,507 | 6,717 | ||
| Youth work | 19,700 | 20,305 | ||
| 147,741 | 462,634 | |||
| Grants received, | included | in the above, are as follows: | ||
| 2020 | 2019 | |||
| All Churches Trust |
2,000 | |||
| Chichester Welfare Trust |
880 | |||
| Foulerton Trust |
20,000 | |||
| Job Retention Scheme |
3,496 | |||
| Other grants | 6,798 | 400 | ||
| 13,174 | 20,400 |
| 3. | INVESTMENT INCOME | |||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Property rental income |
33,010 | 26,600 | ||||
| UK dividends and interest |
2,313 | 1,776 | ||||
| 35,323 | 28,376 | |||||
| 4. | INCOME FROM CHARITABLE ACTIVITIES | |||||
| 2020 | 2019 | |||||
| Activity | ||||||
| Church hall lettings |
Church | activities | 6,531 | 12,067 | ||
| 5. | CHARITABLE ACTIVITIES COSTS | |||||
| Grant | ||||||
| funding of | ||||||
| Direct | activities | Support | ||||
| Costs (see | (see note | costs (see | ||||
| note 6) | 7) | note 8) | Totals | |||
| Church activities | 127,894 | 11,535 | 55,160 | 194,589 | ||
| 6. | DIRECT COSTS OF CHARITABLE | ACTIVITIES | ||||
| 2020 | 2019 | |||||
| Staff costs | 43,700 | 41,902 | ||||
| Activities | 5,014 | 12,999 | ||||
| Parish contributions | 70,000 | 67,500 | ||||
| Rector's and others expenses | 9, 180 | 9,317 | ||||
| 127,894 | 131,718 | |||||
| 7. | GRANTS PAYABLE | |||||
| 2020 | 2019 | |||||
| Church activities | 11,535 | 14,933 |
| Grants payable | Grants payable | Grants payable | from | the St Pancras International | restricted | fund included | in the above: | |
|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||||
| A Cacouris | 300 | |||||||
| Children | on | the | Edge | 1,000 | 1,000 | |||
| CMJ | 180 | 240 | ||||||
| CMS | 1,000 | |||||||
| C Robinson | 835 | |||||||
| Crosslinks | - | Nekemte | School | 1,040 | 540 | |||
| CSW | 50 | |||||||
| Homeless | Project | 435 | 348 | |||||
| Interserv e | 90 | 120 | ||||||
| JMerritt | 500 | |||||||
| JRowe | 175 | 135 | ||||||
| A Mumford | 325 | 335 | ||||||
| MAF | 300 | 300 | ||||||
| SIM | 500 | |||||||
| Tearfund | (Yemen) | 500 | 500 | |||||
| Translation | Trust | 4,320 | 6,320 | |||||
| UCCF | 500 | |||||||
| Uni Chichester | Students Union | 600 | ||||||
| WEC | 820 | 720 | ||||||
| Word Alive | 200 | |||||||
| 10,535 | 13,693 |
| Governance | |||||
|---|---|---|---|---|---|
| Management | Finance | costs | Totals | ||
| Church | activities | 52,640 | 120 | 2,400 | 55,160 |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Church | Total | ||||||
| activities | activities | ||||||
| Legal and professional | fees | 5,728 | 14,100 | ||||
| Upkeep - Services | 1,207 | 1,525 | |||||
| Upkeep - Swanfield |
Drive | 631 | 918 | ||||
| Repairs - Buildings | 27,335 | 22,354 | |||||
| Maintenance | —Church | 5,917 | 5,956 | ||||
| Maintenance | - Hall | 5,098 | 6,736 | ||||
| Maintenance | - I/2 | St Pancras | 6,626 | 10,915 | |||
| Depreciation | oftangible | and heritage | assets | 98 | 5,461 | ||
| Bank charges | 120 | 120 | |||||
| Independent | examination | fees | 2,400 | 2,400 | |||
| 55,160 | 70,485 |
| STAFF COSTS | |||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Wages and salaries | 43,030 | 41,540 | |||
| Social security costs | 77 | ||||
| Other pension costs | 593 | 362 | |||
| 43,700 | 41,902 | ||||
| The average monthly | number ofemployees | during | the year was as follows: | ||
| 2020 | 2019 | ||||
| Number ofCharitable | Staff | 4 | 4 |
| TANGIBLE FIXEDASSET | S | ||||
|---|---|---|---|---|---|
| Improvements | |||||
| Freehold property |
Long leasehold |
to property |
Furniture k equipment |
Totals | |
| COST | |||||
| At 1st January 2020 and | |||||
| 31st December 2020 | 38,930 | 350,000 | 126,755 | 34,844 | 550,529 |
| DEPRECIATION | |||||
| At 1st January 2020 | 53,390 | 34,355 | 87,745 | ||
| Charge for year | 97 | 97 | |||
| At 31st December 2020 | 53,390 | 34,452 | 87,842 | ||
| NET BOOK VALUE | |||||
| At 31st December 2020 | 38,930 | 350,000 | 73,365 | 392 | 462,687 |
| At 31st December 2019 | 38,930 | 350,000 | 73,365 | 489 | 462,784 |
| FIXEDASSET INVEST | MENT | S | |
|---|---|---|---|
| Listed | |||
| investments | |||
| MARKET VALUE | |||
| At 1st January 2020 | 24,012 | ||
| Revaluations | 1,535 | ||
| At 31stDecember 2020 | 25,547 | ||
| NET BOOK VALUE | |||
| At 31stDecember 2020 | 25,547 | ||
| At 31stDecember 2019 | 24,012 | ||
| There were no investment | assets | outside the UK. | |
| At 31 December 2020 investment | holdings consisting ofover 5'/o ofthe portfolio value were as follows |
||
| 2020 | |||
| COIF Charities Investment |
Fund | Income units | 25,278 |
| The historical cost ofinvestments | at 31 December 2020 was f233 (2019:f233). |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Income tax recoverable | 15,021 | 17,330 | |||||
| Prepayments and accrued income |
2,269 | 2,791 | |||||
| 17,290 | 20,121 | ||||||
| CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE | YEAR | |||||
| 2020 | 2019 | ||||||
| Other creditors | 8,651 | 5,731 | |||||
| Accruals and deferred |
income | 27,023 | 27,423 | ||||
| 35,674 | 33,154 | ||||||
| MOVEMENT IN FUNDS |
|||||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.1.20 | in | funds | funds | 31.12.20 | |||
| Unrestricted funds |
|||||||
| General fund | 625,600 | 35,289 | (40,676) | 620,213 | |||
| The Balding Redevelopment | Fund | 315,430 | 315,430 | ||||
| 941,030 | 35,289 | (40,676) | 935,643 | ||||
| Restricted funds |
|||||||
| St Pancras International | 4,473 | (7,771) | 11,000 | 7,702 | |||
| Emergency Fund |
275 | (150) | 125 | ||||
| Youth Work | (4,869) | 4,869 | |||||
| Homeless Projects | 1,172 | (61) | |||||
| Foulerton Charitable |
Trust | 1,090 | ~25,897) | 24,807 | |||
| 7,010 | ~38,748) | 40,676 | 8,938 | ||||
| TOTAL FUNDS | 948,040 | ~3,459) | 944,581 |
| MOVEMENT IN FUNDS —cont |
MOVEMENT IN FUNDS —cont |
MOVEMENT IN FUNDS —cont |
inued | |||
|---|---|---|---|---|---|---|
| Net movement in funds, included |
in the above are as follows: | |||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| Unrestricted funds |
||||||
| General fund | 166,110 | (132,356) | 1,535 | 35,289 | ||
| Restricted funds |
||||||
| St Pancras International | 2,764 | (10,535) | (7,771) | |||
| Emergency Fund |
140 | (290) | (150) | |||
| Youth Work | 19,701 | (24,570) | (4,869) | |||
| Homeless Projects |
(61) | (61) | ||||
| Foulerton Charitable Trust Chichester Welfare Trust |
880 | (25,897) ~880) |
(25,897) | |||
| 23,485 | ~62,233) | $38,748) | ||||
| TOTAL FUNDS | 189,595 | ~194,589) | 1,535 | ~3,469) | ||
| Comparatives for movement |
in | funds | ||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.1.19 | in funds | funds | 31.12.19 | |||
| Unrestricted funds |
||||||
| General fund |
651,827 | (10,939) | (15,288) | 625,600 | ||
| The Balding Redevelopment | Fund | 315,430 | 315,430 | |||
| 651,827 | 304,491 | (15,288) | 941,030 | |||
| Restricted funds |
||||||
| St Pancras International | 3,826 | (10,353) | 11,000 | 4,473 | ||
| Emergency Fund |
490 | (215) | 275 | |||
| Youth Work | (4,288) | 4,288 | ||||
| Homeless Projects |
2,392 | (1,220) | 1,172 | |||
| Foulerton Charitable |
Trust | 1,090 | 1,090 | |||
| 6,708 | ~14,986) | 15,288 | 7,010 | |||
| TOTAL FUNDS | 658,535 | 289,505 | 948,040 |
| Comparative net mov |
ement | in funds, includ | ed in the above are a |
s follows: | ||
|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| Unrestricted funds |
||||||
| General fund | 141,358 | (155,861) | 3,564 | (10,939) | ||
| The Balding Redevelopment | Fund | 315,430 | 315,430 | |||
| 456,788 | (155,861) | 3,564 | 304,491 | |||
| Restricted funds |
||||||
| StPancras International | 3,630 | (13,983) | (10,353) | |||
| Love Gift | 846 | (846) | ||||
| Emergency Fund Youth Work |
685 20,305 |
(900) (24,593) |
(215) (4,288) |
|||
| Homeless Projects Foulerton Charitable Basil Shippam Trust |
Trust | 423 20,000 400 |
(1,643) (18,910) ~4003 |
(1,220) 1,090 |
||
| 46,289 | ~61,2753 | $14,9863 | ||||
| TOTAL FUNDS | 503,077 | ~217,1363 | 3,564 | 289,505 |
| A cunent y | ear 12 mo | nths an |
d prior year 12 | months combined po |
sition is as follow |
s: | |
|---|---|---|---|---|---|---|---|
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.1.19 | in funds | funds | 31.12.20 | ||||
| Unrestricted funds |
|||||||
| General fund | 651,827 | 24,350 | (55,964) | 620,213 | |||
| The Balding Redevelopment | Fund | 315,430 | 315,430 | ||||
| 651,827 | 339,780 | (55,964) | 935,643 | ||||
| Restricted | funds | ||||||
| St Pancras | International | 3,826 | (18,124) | 22,000 | 7,702 | ||
| Emergency Fund Youth Work |
490 | (365) (9,157) |
9,157 | 125 | |||
| Homeless | Projects | 2,392 | (1,281) | ||||
| Foulerton | Charitable | Trust | ~24, 8073 | 24,807 | |||
| 6,708 | ~53,7343 | 55,964 | 8,938 | ||||
| TOTAL FUNDS | 658,535 | 286,046 | 944,581 |
| A current year 12 m as follows: |
onths an |
d prior year 1 | 2 months combined n |
et movement in f |
unds, included |
in the above ar |
|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| Unrestricted funds |
||||||
| General fund | 307,468 | (288,217) | 5,099 | 24,350 | ||
| The Balding Redevelopment | Fund | 315,430 | 315,430 | |||
| 622,898 | (288,217) | 5,099 | 339,780 | |||
| Restricted funds |
||||||
| St Pancras International | 6,394 | (24,518) | (18,124) | |||
| Love Gift | 846 | (846) | ||||
| Emergency Fund |
825 | (1,190) | (365) | |||
| Youth Work | 40,006 | (49,163) | (9,157) | |||
| Homeless Projects |
423 | (1,704) | (1,281) | |||
| Foulerton Charitable |
Trust | 20,000 | (44,807) | (24,807) | ||
| Basil Shippam Trust Chichester Welfare |
Trust | 400 880 |
(400) ~8803 |
|||
| 69,774 | (123,5083 | ~53,7343 | ||||
| TOTAL FUNDS | 692,672 | (411,7253 | 5,099 | 286,046 |
| 2020 | 2019 | |||
|---|---|---|---|---|
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies Collections at all services |
4,273 | 19,455 | ||
| Standing order donations Income tax recoverable |
51,862 15,346 |
43,350 17,392 |
||
| Legacies Grants |
9,678 | 315,430 20,400 |
||
| Donations - St Pancras |
International | 2,361 | 3,229 | |
| Sundry donations and other income Other planned giving Youth work |
36,518 4,507 19,700 |
16,356 6,717 20,305 |
||
| Job Retention Scheme |
3,496 | |||
| 147,741 | 462,634 | |||
| Investment income |
||||
| Propeity rental income UK dividends and interest |
33,010 2,313 |
26,600 1,776 |
||
| 35,323 | 28,376 | |||
| Charitable activities |
||||
| Church hall lettings | 6,531 | 12,067 | ||
| Total incoming resources |
189,595 | 503,077 | ||
| EXPENDITURE | ||||
| Charitable activities |
||||
| Wages Social security Pensions |
43,030 77 593 |
41,540 362 |
||
| Activities | 5,014 | 12,999 | ||
| Parish contributions | 70,000 | 67,500 | ||
| Rector's and others expenses Grants to institutions |
9,180 11,535 |
9,317 14,933 |
||
| 139,429 | 146,651 | |||
| Support costs | ||||
| Management Legal and professional fees Upkeep —Services Upkeep —Swanfield Drive Carried forward |
5,728 1,207 631 7,566 |
14,100 1,525 918 16,543 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Management | |||||
| Brought forward | 7,566 | 16,543 | |||
| Repairs —Buildings |
27,335 | 22,354 | |||
| Maintenance | —Church | 5,917 | 5,956 | ||
| Maintenance | - Hall | 5,098 | 6,736 | ||
| Maintenance | - I/2 St Pancras | 6,626 | 10,915 | ||
| Depreciation | ofimprovements | to property | 5,339 | ||
| Depreciation | offurniture | k equipment | 98 | 122 | |
| 52,640 | 67,965 | ||||
| Finance | |||||
| Bank charges | 120 | 120 | |||
| Governance | costs | ||||
| Independent | examination | fees | 2,400 | 2,400 | |
| Total resources | expended | 194,589 | 217,136 | ||
| Net (expenditure)/income | ~4,994) | 285,941 |