## TREASURER’S REPORT FOR THE YEAR ENDING 2021 ## Introduction Praise be to God for I am never anything but amazed by the generosity of our congregation! For 2021 the PCC approved a budget with a deficit of £7,186, based on budgeted income of £71,625 and budgeted expenditure of £78,811. Despite the continued disruption from the Corona virus impacting the normal worship patterns for much of the year, impacting fundraising events and closing the church hall for some of the year, it is with thanks to the continued generosity of the congregation that our income exceeded budget by £2,213. Our expenditure however was over budget by £2,795, leading to the deficit being some £582 greater than budgeted. ||2021|2020||2019*|2018|2017| |---|---|---|---|---|---|---| |Total income|£73,838|£83,013||£86,260|£89,511|| |£94,470||||||| |Total expenditure|£81,606|£76,104||£91,340|£90,691|£98,180| |Surplus / loss|£(7,768)||£6,908||(£5,080)|(£1,180)| |(£3,709)||||||| *first year of Receipts and Payments accounts As you can see from the table above, the downward trend in income continues. Our cost base was higher than expected mainly due to the need to carry out some electrical work to St Marys’ required by the church insurance company accompanied by the expected refurbishment of St Marys’ toilets. We also took the opportunity to use a very generous leaving gift from Linda and Martin Wilkes to renew the laptop used for Easy Worship and updated the software to the latest version. Additionally, the Gift Aid receipts shown in the accounts to 31[st] December 2020 is an estimated value as the claim has not yet been prepared and submitted. Finally, it is worth noting that we continue not to pay our full Parish Share although we have managed to increase our contribution again this year, all be it by a small amount. We do continue to maintain our Away Giving at 10% of income. Both these points have been discussed at the PCC when setting the budget and will continue to be our position with the intention of increasing our Parish Share as and when possible. ## 2022 budget The PCC has approved a budget for 2022, with budgeted income of £73,550 including a gift day in July and a budgeted expenditure of £78,468 which will lead to a deficit of £4,918. We have had no choice but to budget for a considerable increase in the costs of both gas and electricity. I am pleased to report that it is our intention to increase our Parish Share payments to cover our full contribution. The PCC have however agreed to keep this under “watch” and review the decision should the finances look poor towards the end of the year. These figures do not include income and expenses managed separately by the Friends of All Saints. ## Thanks As treasurer and on behalf of the PCC I would like to thank everybody who made donations to the Church. No matter how big or how small, regular or simply oneoff, each donation helps support the functioning of our Church and they are all very gratefully received. Thanks to you all. ## Acknowledgements As always, I would like to give a special thanks to Jo Saward without whom I wouldn’t be able to complete my function as treasurer and the PCC as a whole who are very supportive of the finance function. Thanks also to Andrew Bowtle for carrying out the independent examination of our accounts, as required by the Charities Commission. I’m also delighted to report that he is happy to carry on “the foreseeable future”. ## **Prepared by Peter Garner – Treasurer** ## **25[th] April 2022** ## Financial Statement The independent examiner, Andrew Bowtle has raised no concerns and has indicated that he is happy to continue for the foreseeable future The following is a summary of income and expenditure for the year ended 31 December 2021 ## **Parochial Church Council of the Ecclesiastical Parish of High Ongar Financial Statements for the Year Ended 31 December 2021** |**Financial Statements for the**|**Year Ended 31 December 2021**||| |---|---|---|---| |**Receipts and Payments**
**Accounts**|||| ||_Unrestrict_
_ed_
_Designat_
_ed_
_Restricte_
_d_|TOTAL|TOTAL| |Not
e|_Funds_
_Funds_
_Funds_|2021|2020| ||£
£
£|£|£| |**RECEIPTS**|||| |**Voluntary**
**receipts:**
Planned giving|44,613
-
-|44,613|44,45
5| |Collections at
services|1,361
-
95|1,456|513| |All other
giving/donatio
ns|6,320
500
1,820|8,640|12,39
2| |Gift Aid
recovered|11,734
-
-|11,734|19,58
9| ||64,028
500
1,915|66,443|76,94
9| |**Activities for generating**
**funds**|664
-
238|902|195| |**Investment**
**income**|62
-
596|659|640| |**Church**
**Activities**
7|5,761
74
-|5,835|5,229| ||||| |**Total**
**receipts**|70,515
574
2,749|73,838|83,01
3| |**PAYMENTS**|||| |**Church**
**Activities:**
Diocesan
parish
contribution|51,600
-
-|51,600|50,28
4| |Clergy and
stafng costs|923
40
-|963|1,081| |
Church
running
expenses
8|16,546
1,443
835|18,824|14,23
1| |Hall running
costs|1,958
-
-|1,958|2,311| |Mission giving
and donations|4,195
3,000
485|7,680|8,052| ||75,221
4,483
1,320|81,025|75,95
8| |**Costs ofgenerating funds:**|-
60
521|581|146| |**Total**
**payments**|75,221
4,543
1,842|81,606|76,10
4| |**Surplus/**
**(defcit)**|(4,706)
(3,969)
907|(7,768)|6,908| |---|---|---|---| |**Transfers between funds**|-
-
-|-|-| ||(4,706)
(3,969)
907|(7,768)|6,908| |**Cash at bank and in hand at**
**1January 2021**
6|25,354
5,705
23,632|54,691|47,78
3| |**Cash at bank and in hand at**
**31 December 2021**|20,648
1,736
24,539|46,923|54,69
1| There were no receipts or payments relating to endowment funds during the year ended 31 December 2021 ## Restricted and Designated funds summary Statement of Assets and Liabilities |Statement of Assets and|Liabilities|||||| |---|---|---|---|---|---|---| ||_Unrestri_
_cted_|_Design_
_ated_|_Restrict_
_ed_|_Endow_
_ment_|TOTAL|TOTA
L| |No
te|_Funds_|_Funds_|_Funds_|_Funds_|2021|2020| ||£|£|£|£|£|£| |**Cash funds**||||||| |Bank current account|2,846|-||-|2,846|5,536| |Cash in hand|429|-|145|-|574|-| |Deposit funds|17,373|1,736|24,394|-|43,503|49,15
5| ||20,648|1,736|24,539|-|46,922|54,69
1| |**Other monetary assets**||||||| |Gift Aid Recoverable
9|5,748|-|-|-|5,748|5,748| |**Investment Assets**||||||| |Investment fund shares
at market value:
3||||||| |Norton Mandeville
Tithe Chancel Fund|-|-|-|3,756|3,756|3,198| |Sunday School Trust
Endowment Fund|-|-|-|14,404|14,404|13,06
2| ||-|-|-|18,160|18,160|16,26
0| |**Liabilities**||||||| |2021 invoices paid in
2022|310|-|145|-|455|180| Notes 1. The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis 2. The PCC recognises the asset of the land and buildings known as St James’ Hall, St James’ Avenue, but does not value this asset in the statement of assets and liabilities. 3. The endowment funds have to be retained as capital funds, and are invested in funds managed by the Chelmsford Diocesan Board of Finance. 4. Reserves Policy It is PCC policy to try to maintain a balance on unrestricted funds that equates to at least four months' unrestricted payments. This is equivalent to £23,024. It is held to smooth out fluctuations in cash flow and to meet emergencies. The cash balance of £20,648 held on unrestricted (not including designated) funds at the year end does not meet this target. 5. Outward giving policy - The PCC models good practice in Christian giving through its outward giving policy. Amounts given as a result of specific fund-raising events and special collections are augmented by amounts allocated from general funds so that a total amount equal to 10% of general fund income is donated to local, national and international charities. 6. The movements in designated and restricted funds during the year were: ||Bal b/fwd|Receipts|Payments|Transfer|Bal c/fwd| |---|---|---|---|---|---| |**_Designated_**
**_Funds_**|||||| |Away giving 2021|3,
000|-|3,000||-| |Benevolent|831|-|40||791| |Local Mission|864|-|-||864| |Bible Notes|10|74|60||24| |Equipment|1,
000|500|1,443||57| ||5,705|574|4,543|-|1,736| |**_Restricted Funds_**|||||| |All Saints|20,443|1,386|727||21,102| |Belfry|882|-|-||882| |Youth Work|1,
405|595|108||1,
892| |Give away|20|610|485||145| |Community
Christmas|757|158|521||394| |Garden of
Remembrance|125|-|-||125| ||23,632|2,749|1,842|-|24,539| The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville. The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised. 7. During the year to 31 December 2021, church activities were made up of £3,952 (2020: £3,871) of fees received for weddings and funerals, and £1,809 (2020: £1,358) from the hiring of St James' Hall. 8. Church running expenses are made up of: ||**_2021_**|**_2020_**| |---|---|---| |Music and Worship||| |expenses|614|471| |Church building running||| |expenses|4,838|5,270| |Church ofce expenses||| ||1,806|494| |Printing, postage and||| |stationery|1,926|1,997| |Service expenses||| ||157
429| |---|---| |Upkeep of churchyard and
grounds|2,790
2,970| |Maintenance expenses|5,357
1,001| ||17,488
12,631| ## Financial Statement The independent examiner, Andrew Bowtle has raised no concerns and has indicated that he is happy to continue for the foreseeable future The following is a summary of income and expenditure for the year ended 31 December 2021 ## **Parochial Church Council of the Ecclesiastical Parish of High Ongar Financial Statements for the Year Ended 31 December 2021** |**Financial Statements for the**|**Year Ended 31 December 2021**||| |---|---|---|---| |**Receipts and Payments**
**Accounts**|||| ||_Unrestrict_
_ed_
_Designat_
_ed_
_Restricte_
_d_|TOTAL|TOTAL| |Not
e|_Funds_
_Funds_
_Funds_|2021|2020| ||£
£
£|£|£| |**RECEIPTS**|||| |**Voluntary**
**receipts:**
Planned giving|44,613
-
-|44,613|44,45
5| |Collections at
services|1,361
-
95|1,456|513| |All other
giving/donatio
ns|6,320
500
1,820|8,640|12,39
2| |Gift Aid
recovered|11,734
-
-|11,734|19,58
9| ||64,028
500
1,915|66,443|76,94
9| |**Activities for generating**
**funds**|664
-
238|902|195| |**Investment**
**income**|62
-
596|659|640| |**Church**
**Activities**
7|5,761
74
-|5,835|5,229| ||||| |**Total**
**receipts**|70,515
574
2,749|73,838|83,01
3| |**PAYMENTS**|||| |**Church**
**Activities:**
Diocesan
parish
contribution|51,600
-
-|51,600|50,28
4| |Clergy and
stafng costs|923
40
-|963|1,081| |Church
running
expenses
8|16,546
1,443
835|18,824|14,23
1| |Hall running
costs|1,958
-
-|1,958|2,311| |Mission giving
and donations|4,195
3,000
485|7,680|8,052| ||75,221
4,483
1,320|81,025|75,95
8| |**Costs ofgenerating funds:**|-
60
521|581|146| |**Total**
**payments**|75,221
4,543
1,842|81,606|76,10
4| |**Surplus/**
**(defcit)**|(4,706)
(3,969)
907|(7,768)|6,908| |---|---|---|---| |**Transfers between funds**|-
-
-|-|-| ||(4,706)
(3,969)
907|(7,768)|6,908| |**Cash at bank and in hand at**
**1January 2021**
6|25,354
5,705
23,632|54,691|47,78
3| |**Cash at bank and in hand at**
**31 December 2021**|20,648
1,736
24,539|46,923|54,69
1| There were no receipts or payments relating to endowment funds during the year ended 31 December 2021 Restricted and Designated funds summary Statement of Assets and Liabilities |Statement of Assets and|Liabilities|||||| |---|---|---|---|---|---|---| ||_Unrestri_
_cted_|_Design_
_ated_|_Restrict_
_ed_|_Endow_
_ment_|TOTAL|TOTA
L| |No
te|_Funds_|_Funds_|_Funds_|_Funds_|2021|2020| ||£|£|£|£|£|£| |**Cash funds**||||||| |Bank current account|2,846|-||-|2,846|5,536| |Cash in hand|429|-|145|-|574|-| |Deposit funds|17,373|1,736|24,394|-|43,503|49,15
5| ||20,648|1,736|24,539|-|46,922|54,69
1| |**Other monetary assets**||||||| |Gift Aid Recoverable
9|5,748|-|-|-|5,748|5,748| |**Investment Assets**||||||| |Investment fund shares
at market value:
3||||||| |Norton Mandeville
Tithe Chancel Fund|-|-|-|3,756|3,756|3,198| |Sunday School Trust
Endowmnet Fund|-|-|-|14,404|14,404|13,06
2| ||-|-|-|18,160|18,160|16,26
0| |**Liabilities**||||||| |2021 invoices paid in
2022|310|-|145|-|455|180| Notes 1. The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis 2. The PCC recognises the asset of the land and buildings known as St James’ Hall, St James’ Avenue, but does not value this asset in the statement of assets and liabilities. 3. The endowment funds have to be retained as capital funds, and are invested in funds managed by the Chelmsford Diocesan Board of Finance. 4. Reserves Policy It is PCC policy to try to maintain a balance on unrestricted funds that equates to at least four months' unrestricted payments. This is equivalent to £23,024. It is held to smooth out fluctuations in cash flow and to meet emergencies. The cash balance of £20,648 held on unrestricted (not including designated) funds at the year end does not meet this target. 5. Outward giving policy - The PCC models good practice in Christian giving through its outward giving policy. Amounts given as a result of specific fund-raising events and special collections are augmented by amounts allocated from general funds so that a total amount equal to 10% of general fund income is donated to local, national and international charities. - 6. The movements in designated and restricted funds during the year were: ||Bal b/fwd|Receipts|Payments|Transfer|Bal c/fwd| |---|---|---|---|---|---| |**_Designated_**
**_Funds_**|||||| |Away giving 2021|3,000|-|3,000||-| |Benevolent|831|-|40||791| |Local Mission|864|-|-||864| |Bible Notes|10|74|60||24| |Equipment|1,000|500|1,443||57| ||5,705|574|4,543|-|1,736| |**_Restricted Funds_**|||||| |All Saints|20,443|1,386|727||21,102| |Belfry|882|-|-||882| |Youth Work|1,405|595|108||1,892| |Give away|20|610|485||145| |Community
Christmas|757|158|521||394| |Garden of
Remembrance|125|-|-||125| ||23,632|2,749|1,842|-|24,539| The restricted All Saints fund is managed by the Friends of All Saints Norton Mandeville. The restricted Give away fund is used to record monies raised during the year for specific causes and charities, as these monies are restricted to the purpose for which they were raised. 7. During the year to 31 December 2021, church activities were made up of £3,952 (2020: £3,871) of fees received for weddings and funerals, and £1,809 (2020: £1,358) from the hiring of St James' Hall. 8. Church running expenses are made up of: ||**_2021_**|**_2020_**| |---|---|---| |Music and Worship||| |expenses|614|471| |Church building running||| |expenses|4,838|5,270| |Church ofce expenses||| ||1,806|494| |Printing, postage and||| |stationery|1,926|1,997| |Service expenses||| ||157
429| |---|---| |Upkeep of churchyard and
grounds|2,790
2,970| |Maintenance expenses|5,357
1,001| ||17,488
12,631| PARISH OF HIGH ONGAR INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts of Par￿h of HKJh Ongar for the year ended 31st Dtr*mber 2021, which are set out on pages Respective responsibilities of trustees and examiner The charily's trustees are resFx)nsible for the weparalion of the ac£ounts. The charily's trustees con5NJer that an 8udii is not required forlhts year under section 144 of Ihe Charities Acl 2011 (the Charities Act) and that an independent examination is required. It is my responsibility to-. examine the accounts under sedion 145 of the Chartites Act: to follow the procedures lavj down in the General Ditedions given by the Chafily CommissK>nef5 (under sedK)n 14515J(b) of the Chafities Acl); and lo state whether particular matters have come to my attention. Basis of independent examinerfs report My examinatton was CArried oth in accorclance wilh Ihe general Directions gtven by the Charity Commissionefs. An examination include5 a ￿vieW of the arLounling records kept by the charity arKI a comparison of the accounts presented wilh those records. It also includes consideralion of any unusual items or disc105ures in the accounts and seeking explanalions from you as tfustees Con￿mIng such matters. The procedures undertaken do nol provide all the e￿den￿ that woubj be required in an audrt arKI, consequently, no opinion is given 8S to whether the accounts present a aThJ fairf view, and the wret is limrted lo those matters sel out in the statement below. Independent examinevs statement In connection with my examination. no m*ter has to my attention.. 1) which gives me reasonabie cause io believe that in any matertal respect the requirements to keep aC￿)UntI￿J re￿rdS in accordance with section 130 of the Chariti'es Afl,. to prepare accounts which accord wrth the accounting records and compty wilh the accounting requirements of Ihe Charities Art have not been met; or 2) lo which, in my opinw)n, attention shouhj be drawn to enable a proper understanding of the accounts to be reached. Andrew le MAAT Limiied Unrt 27, Ongaf Business Centre The Gables, Fyfiekj Ro Ongar Essex CM5 L￿A 19th April 2022