Treasurer’s Report
During 2020 the annual overarching income reduced by a net amount £3039.
As expected, the biggest differential in the income was from reduced lettings from the hall which was down by £4074. The pre-school have now been back for a few months and dance classes have just started again. We are prayerfully hopeful that we will retain these loyal tenants.
Offertory and giving was reduced by £2392. There has been some reduced giving from leaving, retiring and deceased members. This has been coupled with the pandemic affecting collective meetings and the ability to collect the weekly offertory. Additionally there has been minimum increase in giving or new donors.
However, many members have converted their cash giving to more direct giving via the bank and cheque donations.
Giving specifically to youth and children has also reduced by £2,198 mostly likely to be attributable to the lack of childrens/youth activities (Crash & Connectz) that ran throughout 2020.
Gift Aid claims remained stable from the previous year.
Expenditure has reduced throughout the year.
Gas, electric and water have reduced by £1544 for the full year.
Spend on property costs have been £3863 lower than the previous year and significantly below budget.
Employment cost in 2019 were £10566 for the Childrens & Youth worker and the Lay Pastoral worker. Employment & expenditure costs in 2020 for the Community Pioneers were £5116. As the Community Pioneers started in September 2020, there was a gap of 9 months without expenditure on additional staff reducing year on year spend by £5450.
This does not include the office administrator whose costs have remained stable.
Church banking has now moved all on line and this has seen a small reduction in bank charges throughout the year.
General reserves have increased by £15430 which arises from the differential between income and expenditure. There is £30000 for 3
months notional expenditure and the balance available to support the cost of the Community Pioneers.
Whilst it is clear that Covid has impacted significantly on the income of the church, it has nevertheless been boosted by grants and specific giving to Community Pioneers. This has helped to mitigate the reduction in income for this year. However, it must be borne in mind that expenditure has also reduced due to the closure of the church and hall. The picture in 2021 is likely to look very different as expenditure increases and members need to be mindful of this.
Whilst we are in healthy position today, the outlook for this year will undoubtedly put pressure on this position and, we all as stewards, have a duty to ensure the long term sustainability of church finances. Giving has remained static for many for a number of years.
The church asks you to respond to this challenge; a small change from each of us can make a huge difference overall.
Debbie Millar
06/06/2021 Treasurer@zuchurch.co.uk
Zion United Church - Frampton Cotterell
End of Year Financial Statements Year ending 31 December 2020
Page 1
Statement of Financial Activities
| UnrestrictedDesignatedRestrictedEndowment TotalPrior year funds funds funds funds fundstotal funds |
UnrestrictedDesignatedRestrictedEndowment TotalPrior year funds funds funds funds fundstotal funds |
|---|---|
| Income and endowments from: | |
| Donations and legacies | 115,854 — 12,325 — 128,179 122,682 |
| Income from charitable activities | 6,339 — 10 — 6,349 14,621 |
| Other trading activities | 39 — — — 39 193 |
| Investments | 125 — — — 125 134 |
| Other income | 2,275 — — — 2,275 2,377 |
| Total income | 124,634 — 12,335 — 136,969 140,008 |
| Expenditure on: | |
| Expenditure on charitable activities | 109,205 286 5,328 — 114,820 131,046 |
| Other expenditure | — — — — — — |
| Total expenditure | 109,205 286 5,328 — 114,820 131,046 |
| Net income / (expenditure) resources before transfer |
15,429 (286) 7,006 — 22,149 8,962 |
| Transfers | |
| Gross transfers between funds - in | — — — — — 7,607 |
| Gross transfers between funds - out | — — — — — (7,607) |
| Other recognised gains / losses | |
| Gains / losses on investment assets | — — — — — — |
| Gains on revaluation, fxed assets, charity's own use |
— — — — — — |
| Net movement in funds | 15,429 (286) 7,006 — 22,149 8,962 |
| Total funds brought forward | 49,665 12,000 1,706 — 63,371 54,409 |
| Total funds carried forward | 65,095 11,713 8,712 — 85,521 63,371 |
| Represented by | |
| Unrestricted | |
| General fund | 65,095 — — — 65,095 49,665 |
| Designated | |
| Premises | — 11,713 — — 11,713 12,000 |
| Restricted | |
| Agency collection | — — — — — — |
| Bequest Fund | — — — — — — |
| Children & Youth | — — 1,749 — 1,749 901 |
| Community Pioneer | — — 6,148 — 6,148 — |
| Solar Panels for Producing Electricity | — — — — — — |
| Weekend away 'Hill House' | — — 814 — 814 804 |
| Zion Beacon Project | — — — — — — |
Page 2
Balance sheet
| Class and code Description |
Thisyear Lastyear |
|---|---|
| Current assets | |
| 6501 NatWest current account |
64,727 6,412 |
| 6502 Cash in hand |
— — |
| 6503 CFB deposit account |
19,178 19,052 |
| Z05 Accounts Receivable Debtors & Prepaymens |
1,704 40,580 |
| Total Current assets | 85,610 66,045 |
| Liabilities | |
| 6699 Agency collections |
89 — |
| Z04 Accounts Payable |
— 2,673 |
| Total Liabilities | 89 2,673 |
| Net Asset surplus(defcit) | 85,521 63,371 |
| Reserves |
|
| Excess / (defcit) to date | 22,149 29,790 |
| Z01 Starting balances |
63,371 33,581 |
| Total Reserves | 85,521 63,371 |
| Represented by funds | |
| Unrestricted | 65,095 49,665 |
| Designated | 11,713 12,000 |
| Restricted | 8,712 1,706 |
| Endowment | — — |
| Total | 85,521 63,371 |
Statement of assets and liabilities
GeneralDesignatedRestrictedEndowmentThis year Last
| GeneralDesignatedRestrictedEndowmentThis year Last |
|
|---|---|
| year | |
| Current assets - Cash at bank and in hand |
|
| NatWest current account - | 44,512 11,713 8,502 — 64,727 6,412 |
| CFB deposit account - | 19,178 — — — 19,178 19,052 |
| Totals | 63,690 11,713 8,502 — 83,905 25,465 |
| Current assets - Debtors | |
| Accounts Receivable Debtors & Prepaymens - |
1,404 — 300 — 1,704 40,580 |
| Totals | 1,404 — 300 — 1,704 40,580 |
| Liabilities - Agency accounts | |
| Agency collections - | — — 89 — 89 — |
| Totals | — — 89 — 89 — |
| Liabilities - Creditors: Amounts falling due in one year |
|
| Accounts Payable - | — — — — — 2,673 |
| Totals | — — — — — 2,673 |
| Grand total | 65,095 11,713 8,712 — 85,521 63,371 |
Page 3
Fund movement by type
| Opening Incoming Outgoing TransfersGains/losses Closing | |
|---|---|
| ComP - Community Pioneer | |
| Restricted | — 11,266 5,117 — — 6,148 |
| Sub-total for ComP | — 11,266 5,117 — — 6,148 |
| General - General fund | |
| Unrestricted | 49,665 124,634 109,205 — — 65,095 |
| Sub-total for General | 49,665 124,634 109,205 — — 65,095 |
| Premises - Premises | |
| Designated | 12,000 — 286 — — 11,713 |
| Sub-total for Premises | 12,000 — 286 — — 11,713 |
| HillHouse - Weekend away 'Hill H | |
| Restricted | 804 10 — — — 814 |
| Sub-total for HillHouse | 804 10 — — — 814 |
| ChildYouth - Children & Youth | |
| Restricted | 901 1,059 210 — — 1,749 |
| Sub-total for ChildYouth | 901 1,059 210 — — 1,749 |
| Beacon - Zion Beacon Project | |
| Restricted | — — — — — — |
| Sub-total for Beacon | — — — — — — |
| Bequest - Bequest Fund | |
| Restricted | — — — — — — |
| Sub-total for Bequest | — — — — — — |
| Solar-Pan - Solar Panels for Pro | |
| Restricted | — — — — — — |
| Sub-total for Solar-Pan | — — — — — — |
| Grand total | 63,371 136,969 114,820 — — 85,521 |
Page 4
Analysis of income and expenditure
| — — 10 — 10 4,207 |
||
| 6,339 — 10 — 6,349 14,621 |
||
| 39 — — — 39 193 |
||
| 39 — — — 39 193 |
||
| 125 — — — 125 134 |
||
| 125 — — — 125 134 |
||
| 2,275 — — — 2,275 2,377 |
||
| Total | 2,275 — — — 2,275 2,377 |
|
| INCOME TOTAL | 124,634 — 12,335 — 136,969 140,008 |
Page 5
EXPENDITURE
Expenditure on charitable activities
| 2201 - Annual Assessment Methodist 2202 - Annual Assessment URC 2302 - Church Insurance 2401 - Church running expenses 2402 - Church Gas 2403 - Church Electricity 2404 - Telephone & broadband costs 2405 - Ofce Administrator 2406 - Church Water 2407 - Church Cleaning Services 2411 - Minister's Expenses 2501 - Hall expenses 2502 - Hall Gas 2503 - Hall Electricity 2504 - Hall Cleaning Services 2505 - Hall Water 2506 - Hall Insurance 2601 - Junior Church 2602 - Youth & Children 2701 - Evangelism & Outreach 2702 - ConnectZ 2801 - Lay Worker 2802 - Training 2803 - World Mission Group 2804 - Minister's Discretionary expenses 2810 - Gifts 2901 - Bank charges 3001 - Church Property 3002 - Hall Property 3010 - Audio / Visual 4001 - 'Hill House' 4200 - Social Events 4401 - Children & Youth Worker 4500 - Commmunity Pioneers - Salary 4501 - ComP - Expenditure 4502 - ComP - Expenses |
22,644 — — — 22,644 22,300 45,742 — — — 45,742 45,788 3,159 — — — 3,159 2,827 3,916 — — — 3,916 4,728 1,150 — — — 1,150 1,913 414 — — — 414 682 610 — — — 610 366 5,804 — — — 5,804 5,647 340 — — — 340 355 192 — — — 192 1,074 1,437 — — — 1,437 96 1,135 — — — 1,135 1,402 816 — — — 816 993 808 — — — 808 1,448 467 — — — 467 625 188 — — — 188 229 1,565 — — — 1,565 1,298 214 — — — 214 284 — — 145 — 145 987 587 — — — 587 546 — — 65 — 65 592 — — — — — 7,165 261 — — — 261 638 13,300 — — — 13,300 13,600 — — — — — 250 1,990 — — — 1,990 1,794 475 — — — 475 588 — 286 — — 286 2,228 — — — — — 1,921 1,982 — — — 1,982 1,102 — — — — — 4,167 — — — — — — — — — — — 3,401 — — 4,514 — 4,514 — — — 562 — 562 — |
|---|---|
| — — 40 — 40 — |
|
| Total | 109,205 286 5,328 — 114,820 131,046 |
| EXPENDITURE TOTAL | 109,205 286 5,328 — 114,820 131,046 |
| GRAND TOTAL | 15,429 (286) 7,006 — 22,149 8,962 |
Page 6
Conclusion
-
Clearly COVID 19 has had a major impact on all church activity last year and this impact can be seen in all aspects of the church finances. Discounting income attributable to ‘Hill House’, overall income was largely unchanged. However, the reductions in income attributable to lower hall rentals have been offset by receipt of grants to fund the community pioneers. As COVID restrictions start to ease, we should be able to welcome groups back to the hall from the middle and hopefully the rate of income previously received will resume from September onwards.
-
From an expenditure perspective, after discounting the expenditure attributable to Hill House and the Youth and Lay Worker in 2019, overall expenditure reduced by c£1493. While lower church usage has seen a reduction in church running costs (eg Gas, electricity) many aspects of church expenditure are fixed (eg Methodist and URC contributions, insurances etc) and in some cases have increased.
-
Despite these observations, overall income exceeded expenditure by £22149, and reserves held at the bank increased to £85521.
-
Since September, the community pioneers have been in post and we have received some grant income and designated giving to support them. In 2020, this is clearly in excess of the costs incurred. However, this position will reverse, and we will, as planned, have to draw in reserves to support their employment. Assuming income maintains at the current level, this position is a sustainable one.
This report dated: 31 March 2021
Page 7
INDEPENDENT EXAMINER'S REPORT TO THE ELDERS OF ZION UNITED CHURCH, FRAMPTON COTTERELU BRISTOL I report on the financial statements of Zion United Church for the year ended 31 December 204 vthich are set out in the endosed pages. Respectlve responsibilities of trustees and examlner The charity's trustees are sponsible for the preparation of the accounts. The charitys trustees consider than an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Chaiities Act 2011 to follow the PrOdureS laid down in the general Directions given by the Charity Commission under Section 145(5)Ib) of the 2011 Act: and to state whether particular matters have come to my attention. Basls of Independent examlnefs report My examination was carried out in accordance with the general Directions gtven by the Charity Commission. An examination indudes 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 you as trustees conceming 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 Irue and fair view and the report is limited to those matters set out in the statement below. Independent examlnefs statsmant In connection with my examination, no matter has come to my attention.. (1) which gives me reasonable cause to believe that in any material respect the requirements". to keep accounting records in accordan wtth section 130 of the 2011 and section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and to prepare accounts which accord with the accounting records and comply with the accountlng requirements of the 2011 Act and section 44{1 }{b) of the 2005 Act and Regulation 9 of the 2006 Regulations have not been met.. or (2) to which, in my opinion. attention should be drawn in order to enable a woper understanding of the accounts to b8 reached. Robert West F.C.A. 19 Langthom Close, Frampton Cotterell, Bristol, BS36 2JH Date: lo1