Zion United Church
End of Year Financial Statements
Year ending 31 December 2021
Page 1
Introduction
The following statements represent the account and summary financial position of Zion United Church as at 31[st] December 2021. They are derived from data held on the Data Developments Finance Management Tool. Full records have been provided to support Independent Examination of these accounts.
Statement of Financial Activities
| Unrestricted Restricted Endowment Total Prior year funds funds funds funds total funds |
|
|---|---|
| Income and endowments from: Donations and legacies Income from charitable activities Other trading activities Investments Other income Total income Expenditure on: Expenditure on charitable activities Other expenditure Total expenditure Net income / (expenditure) resources before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Other recognised gains / losses Gains / losses on investment assets Gains on revaluation, fixed assets, charity's own use Net movement in funds Total funds brought forward Total funds carried forward Represented by Unrestricted General fund Designated Premises Restricted Agency collection Children & Youth Community Pioneer Together for Fromeside Weekend away 'Hill House' Zion Beacon Project |
114,152 28,390 — 142,542 128,179 7,260 — — 7,260 6,349 178 — — 178 39 — — — — 125 2,429 — — 2,429 2,275 |
| 124,021 28,390 — 152,412 136,969 116,690 29,970 — 146,661 114,820 — — — — — |
|
| 116,690 29,970 — 146,661 114,820 |
|
| 7,330 (1,580) — 5,750 22,149 7,220 25,000 — 32,220 — (32,220) — — (32,220) — — — — — — — — — — — |
|
| (17,669) 23,419 — 5,750 22,149 |
|
| 76,808 8,712 — 85,521 63,371 |
|
| 59,138 32,132 — 91,271 85,521 49,978 — — 49,978 65,095 9,160 — — 9,160 11,713 — — — — — — 2,102 — 2,102 1,749 — 27,946 — 27,946 6,148 — 1,568 — 1,568 — — 514 — 514 814 — — — — — |
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Balance sheet
| Class and code Description |
This year Last year |
|---|---|
| Current assets 6501 NatWest current account 6502 Cash in hand 6503 CFB deposit account Z05 Accounts Receivable Debtors & Prepaymens Total Current assets Liabilities 6699 Agency collections Z04 Accounts Payable Total Liabilities Net Asset surplus(deficit) Reserves Excess / (deficit) to date Z01 Starting balances Total Reserves Represented by funds Unrestricted Designated Restricted Endowment Total |
72,182 64,727 — — 19,178 19,178 — 1,704 |
| 91,360 85,610 89 89 — — |
|
| 89 89 |
|
| 91,271 85,521 |
|
| 5,750 22,149 85,521 63,371 |
|
| 91,271 85,521 49,978 65,095 9,160 11,713 32,132 8,712 — — |
|
| 91,271 85,521 |
Page 3
Statement of assets and liabilities
| General Designated Restricted Endowment This year Last year |
|
|---|---|
| Current assets - Cash at bank and in hand NatWest current account - CFB deposit account - Totals Current assets - Debtors Accounts Receivable Debtors & Prepaymens - Totals Liabilities - Agency accounts Agency collections - Totals Grand total |
38,020 1,940 32,222 — 72,182 64,727 11,958 7,220 — — 19,178 19,178 |
| 49,978 9,160 32,222 — 91,360 83,905 — — — — — 1,704 |
|
| — — — — — 1,704 — — 89 — 89 89 |
|
| — — 89 — 89 89 |
|
| 49,978 9,160 32,132 — 91,271 85,521 |
Fund movement by type
| Opening Incoming Outgoing Transfers Gains/losses Closing |
|
|---|---|
| ComP - Community Pioneer Restricted Sub-total for ComP T4F - Together for Fromesi Restricted Sub-total for T4F General - General fund Unrestricted Sub-total for General Premises - Premises Designated Sub-total for Premises HillHouse - Weekend away 'Hill H Restricted Sub-total for HillHouse ChildYouth - Children & Youth Restricted Sub-total for ChildYouth Beacon - Zion Beacon Project Restricted Sub-total for Beacon Grand total |
6,148 19,198 22,399 25,000 — 27,946 |
| 6,148 19,198 22,399 25,000 — 27,946 — 8,507 6,938 — — 1,568 |
|
| — 8,507 6,938 — — 1,568 65,095 124,021 106,918 (32,220) — 49,978 |
|
| 65,095 124,021 106,918 (32,220) — 49,978 11,713 — 9,772 7,220 — 9,160 |
|
| 11,713 — 9,772 7,220 — 9,160 814 — 300 — — 514 |
|
| 814 — 300 — — 514 1,749 685 332 — — 2,102 |
|
| 1,749 685 332 — — 2,102 — — — — — — |
|
| — — — — — — |
|
| 85,521 152,412 146,661 — — 91,271 |
Page 4
Analysis of income and expenditure
| Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies 0110 - Offertory (via Bank) 87,081 — — — 87,081 89,364 0112 - Offertory 4,819 — — — 4,819 3,834 1101 - Gift Aid on Offertories 15,552 — — — 15,552 19,847 1102 - Sundry Donations 4,698 — — — 4,698 2,808 1104 - Bequests 2,000 — — — 2,000 — 1105 - Together for Fromeside (T4F) — — 8,507 — 8,507 — 1106 - Charitable Donations — — — — — — 1400 - Donations - Youth & Children — — 685 — 685 1,059 1402 - Gift Aid on Youth & Children — — — — — — 1800 - ComP - Grants — — 16,298 — 16,298 10,166 1801 - ComP - Donations — — 2,900 — 2,900 1,100 1802 - ComP - Gift Aid on Donations — — — — — — Total 114,152 — 28,390 — 142,542 128,179 Income from charitable activities 1201 - Hall regular lettings 7,051 — — — 7,051 6,159 1204 - Sanctuary and Chapel Hire 151 — — — 151 151 1205 - Beacon Hire 57 — — — 57 28 1601 - 'Hill House' — — — — — 10 Total 7,260 — — — 7,260 6,349 Other trading activities 1202 - Hall one off lettings 178 — — — 178 39 Total 178 — — — 178 39 Investments 1103 - Bank Interest CFB — — — — — 125 Total — — — — — 125 Other income 1302 - Steven Newell - Leaving Collection — — — — — — 1503 - Solar Panel Income 2,429 — — — 2,429 2,275 Total 2,429 — — — 2,429 2,275 |
Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Donations and legacies 0110 - Offertory (via Bank) 87,081 — — — 87,081 89,364 0112 - Offertory 4,819 — — — 4,819 3,834 1101 - Gift Aid on Offertories 15,552 — — — 15,552 19,847 1102 - Sundry Donations 4,698 — — — 4,698 2,808 1104 - Bequests 2,000 — — — 2,000 — 1105 - Together for Fromeside (T4F) — — 8,507 — 8,507 — 1106 - Charitable Donations — — — — — — 1400 - Donations - Youth & Children — — 685 — 685 1,059 1402 - Gift Aid on Youth & Children — — — — — — 1800 - ComP - Grants — — 16,298 — 16,298 10,166 1801 - ComP - Donations — — 2,900 — 2,900 1,100 1802 - ComP - Gift Aid on Donations — — — — — — Total 114,152 — 28,390 — 142,542 128,179 Income from charitable activities 1201 - Hall regular lettings 7,051 — — — 7,051 6,159 1204 - Sanctuary and Chapel Hire 151 — — — 151 151 1205 - Beacon Hire 57 — — — 57 28 1601 - 'Hill House' — — — — — 10 Total 7,260 — — — 7,260 6,349 Other trading activities 1202 - Hall one off lettings 178 — — — 178 39 Total 178 — — — 178 39 Investments 1103 - Bank Interest CFB — — — — — 125 Total — — — — — 125 Other income 1302 - Steven Newell - Leaving Collection — — — — — — 1503 - Solar Panel Income 2,429 — — — 2,429 2,275 Total 2,429 — — — 2,429 2,275 |
|---|---|
| 7,260 — — — 7,260 6,349 178 — — — 178 39 |
|
| 178 — — — 178 39 — — — — — 125 |
|
| — — — — — 125 — — — — — — 2,429 — — — 2,429 2,275 |
|
| 2,429 — — — 2,429 2,275 |
|
| INCOME TOTAL | 124,021 — 28,390 — 152,412 136,969 |
| EXPENDITURE | ||||||
|---|---|---|---|---|---|---|
| Expenditure on charitable activities | ||||||
| 2201 - Annual Assessment Methodist | 22,932 | — | — | — | 22,932 | 22,644 |
| 2202 - Annual Assessment URC | 44,106 | — | — | — | 44,106 | 45,742 |
| 2302 - Church Insurance | 5,984 | — | — | — | 5,984 | 3,159 |
Page 5
| 2401 - Church running expenses 2402 - Church Gas 2403 - Church Electricity 2404 - Telephone & broadband costs 2405 - Office Administrator 2406 - Church Water 2407 - Church Cleaning Services 2408 - Visiting Speakers 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 2811 - Charitable Donations 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 5000 - Together for Fromeside Total Other expenditure 2812 - Stephen Newell - Leaving Gift Total |
4,922 — — — 4,922 3,916 952 — — — 952 1,150 595 — — — 595 414 412 — — — 412 610 4,435 — — — 4,435 5,804 313 — — — 313 340 651 — — — 651 192 122 — — — 122 — 1,411 — — — 1,411 1,437 147 — — — 147 1,135 1,809 — — — 1,809 816 1,133 — — — 1,133 808 — — — — — 467 170 — — — 170 188 413 — — — 413 1,565 737 — — — 737 214 — — 332 — 332 145 557 — — — 557 587 — — — — — 65 — — — — — — 87 — — — 87 261 11,400 — — — 11,400 13,300 — — — — — — 3,193 — — — 3,193 1,990 — — — — — — 427 — — — 427 475 — 7,824 — — 7,824 286 — 1,948 — — 1,948 — — — — — — 1,982 — — 300 — 300 — — — — — — — — — — — — — — — 20,722 — 20,722 4,514 — — 1,154 — 1,154 562 — — 522 — 522 40 — — 6,938 — 6,938 — |
|---|---|
| 106,918 9,772 29,970 — 146,661 114,820 — — — — — — |
|
| — — — — — — |
|
| EXPENDITURE TOTAL | 106,918 9,772 29,970 — 146,661 114,820 |
| GRAND TOTAL | 17,103 (9,772) (1,580) — 5,750 22,149 |
Page 6
Conclusion
The COVID-19 pandemic continued to have an impact on church finances throughout 2021. From the lockdown in the early part of the year when all church activity was restricted to ‘On-Line’ activity only but also more positively in the latter half as well as restrictions eased, church attendance in person iwas restarted and Hall activity recommenced.
The main source of church income remains personal giving and despite the pandemic this has held up well and is only £1298 down on 2020. The reduction in Gift Aid income is as a result of a drop off in giving from previous years as well as reduced benefit from the cash offertory.
The Income/Expenditure account also includes and entry for Together For Fromeside. Zion has acted as ‘host’ account for T4F to enable them to raise funds for a number of local appeals throughout the year (eg Comfort and Joy). Although the income is showing higher than expenditure, the balancing amount has been paid out in 2022 and will show in next year’s accounts.
Finally, is worth noting that income from hall rental is beginning to recover post pandemic and it is anticipated that this will continue into 2022.
On the expenditure side, the church faced a number of cost pressures throughout the year. Insurance costs increased significantly and the church, like the rest of society is facing increasing cost pressure on energy costs. I expect this to become an increasing issue throughout 2022 as increasing church activity as well as increasing unit costs are likely to drive this aspect of church expenditure going forward. I will continue to monitor this and work with the church leadership to ensure that these increases are minimized wherever practical.
2021 also saw a change in the employment circumstances of the church’s minister. Steven Newell moved to part-time employment in Nov 21 ahead of his departure from Zion in Feb 2022. As a result URC Annual Assessment Costs were reduced by £1636. This reduction will be sustained throughout 2022 until such time as a new minister is appointed.
During the course of the year, the church was requested to make a contribution from ‘free reserves’ (ie money not ring fenced for specific activity) to the Methodist Pension fund. This amounted to £1309.
Last year was also the first full year of community pioneer employment so there has been natural cost growth in their costs. While these are covered to some extent by grants from both the URC and Methodist churches as well as a number of other benefactors, provision has also been made through the transfer of £25000 from general funds to support their costs until Sep 2023.
Some extraordinary property maintenance was required to replace the cottage windows. These were in danger of becoming a significant health and hazard. The church has recently commissioned it quinquennial property survey. This may highlight some additional maintenance activity required in the coming years. This will be reviewed and budgeted for on a prioritized basis.
This report dated: 28 February 2022
I confirm that I have completed my independent examination of these accounts and confirm that this is a true and accurate record of the Zion United Church finances at the 31[st] December 2021.
Original accounts signed by
R.H. West on 11 March 2022
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