2020-12-31-accounts - All Saints Parish Church

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ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL REVENUE ACCOUNT

YEAR ENDED 31 DECEMBER 2020

LEVICKS

Chartered Accountants and Business Advisers 61 London Road Maidstone Kent ME16 8TX

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL YEAR ENDED 31 DECEMBER 2020

CONTENTS
	Page
Independent Examiner’s Report	2
General Unrestricted Fund	3-4
Youth Restricted Fund	5
Barnabas Restricted Fund	6
Millennium Restricted Fund	7
Small Restricted Funds	8-9
Statement of Assets and Liabilities	10-11
Notes to the Accounts	12-13

Page 2

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL

INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL

I report on the accounts of All Saints, Loose Parochial Church Council for the year ended 31 December 2020, which are set out on pages 3 to 13.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees 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:

examine the accounts under section 145 of the Charities Act;
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
to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the 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 the seeking of explanations from you as 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.

Independent examiner’s statement

As explained in note 4 to the Financial Statements the aggregate amount of trustee donations without conditions has not been disclosed. The trustees have not, therefore, complied with the requirement in section 9.18 of the Charities SORP (FRS 102).

In connection with my examination, no material matters, except that referred to in the above paragraph, have come to my attention which give me cause to believe that, in any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (accounts and reports) Regulations 2008, other than any requirement that the accounts give a ‘true and fair’ view, which is not a matter considered as part of the independent examination.

I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

These accounts have NOT yet been signed by the accountants. The name and address of the accountants has therefore been suppressed.

DRAFT ACCOUNTS

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL Page 3 YEAR ENDED 31 DECEMBER 2020

General (Unrestricted) Fund Receipts and Payments Account

Receipts Voluntary Receipts Gift aid Non tax family purse Income tax recovered Plate Christianity Explored Fees and Other Receipts Donations Fundraising PCC Fees Printing Fellowship Bookstall Gifts Messy Church VAT refunds Investment income Insurance claim Total Receipts Payments Grants–Missions and Charities Christianity Explored Passion 4 Life Ministry Costs Apprentice expenses Parish share Priest expenses Vicarage expenses Ministry training expenses Carried forward	2020 £ 104,056 2,714 25,957 2,204 100 135,031 14,110 204 4,226 43 563 122 - 10 - 108 - 19,386 154,417 427 - 427 - 87,149 1,412 2,269 713 91,543 91,970	2019 81,216 3,366 28,830 7,083 - 120,495 10,137 396 2,919 200 2,252 - 15 - - 121 2,730 18,770 139,265 221 - 221 1,360 77,088 1,673 65 2,828 83,014 83,235

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL

Page 4

YEAR ENDED 31 DECEMBER 2020

General (Unrestricted) Fund Receipts and Payments Account Cont’d

Brought forward Church Expenses Lead theft Heating, lighting and water Insurance Upkeep of services Printing magazines etc I. T. costs Fellowship Donations Repairs and organ tuning Messy Church Building work and repairs Kitchen and cleaning Quinquennial work Livestreaming Toddler Praise Fundraising and Publicity Fundraising Marketing Bookstall Church Management Independent examiner fees Parish office Stationery Secretary PCC expenses Bank charges Parish weekend away Loan repayments Transfer to Youth Fund Total payments Excess of receipts over payments Transfer to Boiler Repair Fund Transfer to High Leighs Fund Bank Current and Deposit Accounts as at 1 January 2020 Bank Current and Deposit Accounts as at 31 December 2020	2020 £ £ 91,970 - 6,650 3,166 1,499 6,210 1,662 1,405 8,065 33 269 1,743 506 - 1,962 9 33,179 187 - 337 524 930 1,176 756 9,498 2,601 265 - 1,440 6,700 23,366 149,039 5,378 (2,928) - 2,450 - 2,450	2019 £ £ 83,235 2,980 6,782 3,217 2,537 6,102 301 3,591 8,216 93 749 1,874 465 2,010 - - 38,917 - 1,712 290 2,002 900 1,162 764 7,511 1,180 265 - 1,440 446 13,668 137,822 1,443 (2,737) (1,224) (2,518) 2,518 -	2019 £ £ 83,235 2,980 6,782 3,217 2,537 6,102 301 3,591 8,216 93 749 1,874 465 2,010 - - 38,917 - 1,712 290 2,002 900 1,162 764 7,511 1,180 265 - 1,440 446 13,668 137,822 1,443 (2,737) (1,224) (2,518) 2,518 -
			(2,518) 2,518 -

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL

Page 5

YEAR ENDED 31 DECEMBER 2020

Youth (Restricted) Fund Receipts and Payments Account

Receipts Voluntary Receipts Gift aid Non tax donations Income tax recovered Fees and Other Receipts Dividends and interest Families Minister 588 Loose Road – Rental Transfer from General Fund Total Receipts Payments Mortgage repayments Insurance Teaching materials Training Activities Youth workers Youth workers pension Holiday club Heating, lighting and water Council tax House expenses Chapel contribution Bank charges Families minister Families minister expenses Families minister pension 2 Pearce Gardens 2 Pearce Gardens – heating, lighting & water 2 Pearce Gardens – Council tax Total Payments Excess of Receipts over Payments Transfer from Reserve A/C (Apprentice fund) Bank Current and Deposit Accounts as at 1 January 2020 Bank Current and Deposit Accounts as at 31 December 2020	2020 £ £ 9,316 1,285 7,039 17,640 94 18,195 10,200 6,700 35,189 52,829 7,578 558 765 - 384 22,493 969 566 - - 892 1,500 60 - 550 - 14,400 - - 50,715 2,114 - 2,114 50,177 52,291	2019 £ £ 12,126 300 10,713 23,139 236 21,247 10,200 446 32,129 55,268 7,588 520 908 - 588 20,159 938 (111) - - 1,742 3,000 60 - 646 171 14,400 194 (260) 50,543 4,725 - 4,725 45,452 50,177

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL

Page 6

YEAR ENDED 31 DECEMBER 2020

Barnabas (Restricted) Fund Receipts and Payments Account

Receipts Fees and other receipts Dividends and interest Total Receipts Payments Donations Bank charges Total Payments Excess of Payments over Receipts Transfer from general fund Bank Current and Deposit Accounts as at 1 January 2020 Bank Current and Deposit Accounts as at 31 December 2020	2020 £ £ 7 7 500 - 500 (493) 2,083 1,590 ____	2019 £ £ 13 13 - - - 13 2,070 ___ 2,083 ____	2019 £ £ 13 13 - - - 13 2,070 ___ 2,083 ____
			-
			13
			2,070 ___ 2,083 ____

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL Page 7 YEAR ENDED 31 DECEMBER 2020

Millennium (Restricted) Fund Receipts and Payments Account

2020 2018 £ £ £ Bank Current and Deposit Accounts as at 1 January 2020 106 Bank Current and Deposit Accounts as at 31 December 2020 106	£ 106 106 ___

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL

Page 8

YEAR ENDED 31 DECEMBER 2020

Small (Restricted) Funds Receipts and Payments Accounts

Bequest Trainee/ Apprentice Fund Zambian Support £ £ £ Bank current and deposit accounts as at 1 January 2019 - 4,733 - Receipts Collections for missions and charities - - 450 Donations - 700 - Income tax recovered - - 113 Bequest 54 - - Fund raising - - - Transfer from general fund - - - Total Receipts 54 700 563 Payments Donations 54 3,700 563 Parish weekend away - - - Building works and repairs - - - Total Payments 54 3,700 563 Bank current and deposit account as at 31 December - 1,733 - 2018/ 1 January 2020 Receipts Collections for missions and charities - - 413 Donations - 1,050 - Income tax recovered - - 100 Bequest 220 - - Transfer from general fund - - - Total Receipts 220 1,050 513 Payments Donations 220 - 509 Parish weekend away - - - Building works and repairs - - - Total Payments 220 - 509 Bank current and deposit account as at 31 December 2020 - 2,783 4	Zambian Church £ - 450 - 113 - - - 563 563 - - 563 - 413 - 100 - - 513 509 - - 509 4	Zambian Orphans £ - 1,560 - 390 - - - 1,950 1,950 - - 1,950 - 1,320 - 330 - - 1,650 1,650 - - 1,650 -	Boiler Repair Fund £ 3,850
			1,510 - 963 - - 2,737 5,210 - - 9,060 9,060 - - - - - 2,928 2,928 - - 2,928
			2,928 -

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL

Page 9

YEAR ENDED 31 DECEMBER 2020

Small (Restricted) Funds Receipts and Payments Account

Bank current and deposit accounts as at 1 January 2019 Receipts Collections for missions and charities Donations Income tax recovered Bequest Fund raising Transfer from general fund Total Receipts Payments Donations Parish weekend away Building works and repairs Total Payments Bank current and deposit accounts as at 31 December 2019 /1 January 2020 Receipts Collections for missions and charities Donations Income tax recovered Bequest Transfer from general fund Total Receipts Payments Donations Parish weekend away Building works and repairs Total Payments Bank current and deposit accounts as at 31 December 2020	High Leighs £ - - - - - - 1,224 1,224 - 1,224 - 1,224 - - - - - - - - - - - -	Avant Ministries £ 206 200 - 50 - - - 250 456 - - 456 - - - - - - - - - - - -	Zambian Education £ 120 965 - 271 - - - 1,236 1,356 - - 1,356 - 600 - 150 - - 750 750 - - 750 -	Australian Morrison’s Fund £ 63 1,970 - 312 - - - 2,282 2,345 - - 2,345 - 3,180 - 240 - - 3,420 3,420 - - 3,420 -	TOTAL £ 8,972
					7,105 700 2,212 54 - 3,961
					14,032 10,987 1,224 9,060
					21,271
					1,733
					5,926 1,050 920 220 2,928
					11,044 7,058 - 2,928
					9,986
					2,791

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL Page 10

YEAR ENDED 31 DECEMBER 2020

Statement of Assets and Liabilities

Cash Funds CAF Cash Account NatWest Current Account CAF Deposit Account NatWest Reserve Account NatWest Barnabas Fund Account CAF Youth Account Millennium Account CBF Deposit 1D - Youth CBF Deposit 7D - General CBF Deposit 8D - Barnabas Fund Total Bank Current and Deposit Accounts Other Monetary Assets Income Tax Recoverable 10 of those.com High Leigh Deposit Total debtors Assets Retained for the church’s use Freehold Property 588 Loose Road (Purchase price 26 October 2011) Equipment–Stated at original Cost Photocopier Clavinova Computer and Workstation Computer Old boiler/new boiler TV Equipment MacBook Sound Desk	General Unrestricted Fund £ 1,950 - - - - - - - - 500 2,450 5,737 775 - 6,512 - 4,480 1,399 1,467 1,388 9,060 2,299 1,200 1,400 22,693	Youth Restricted Fund £ 649 178 25 - - 23 - 20,090 31,326 - 52,291 1,310 - - 1,310 152,310 - - - - - - - - 152,310	Barnabas Fund Restricted Fund Millennium Restricted Fund £ £ - - - - - - - - 373 - - - - 106 - - - - 1,217 - 1,590 106 - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Small Restricted Funds £ - 2 - 2,789 - - - - - - 2,791 198 - 1,224 1,422 - - - - - - - - - -	Total 2020 £ 2,599 180 25 2,789 373 23 106 20,090 31,326 1,717 59,228 7,245 775 1,224 9,244 152,310 4,480 1,399 1,467 1,388 9,060 2,299 1,200 1,400 175,003	Total 2019 £ 582 225 25 1,733 373 47 106 25,930 23,368 1,710 54,099 5,466 - 1,224 6,690 152,310 4,480 1,399 1,467 1,388 9,060 2,299 1,200 1,400 175,003

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL Page 11

YEAR ENDED 31 DECEMBER 2020

Statement of Assets and Liabilities Cont’d

General Unrestricted Fund £ Liabilities Mortgage - Loan for spire 2,462 Independent examiner fees 930 Parish share before 2018 49,807 Parish share 2018 5,534 Balance of Parish share 2020 1,335 Due to Trainee/Apprentice Fund - Pension contributions - Livestreaming 250 60,318	Youth Restricted Fund £ 45,224 - - - - - - - - 45,224	Barnabas Fund Restricted Fund £ - - - - - - - - - -	Millennium Restricted Fund £ - - - - - - - - - -	Small Restricted Funds £ - - - - - - - - - -	Total 2020 £ 45,224 2,462 930 49,807 5,534 1,335 - - 250 105,542	Total 2019 £ 49,679 3,902 900 - 16,300 3,941 3,000 72 -
						77,794

Approved by the PCC on ………….…2021 and signed on their behalf by:

…………………………………………………..

S A Price PCC Chairman

…………………………………………………. N Good PCC Treasurer

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL Page 12 YEAR ENDED 31 DECEMBER 2020

Notes to the accounts

1) The financial statements of the PCC have been prepared on a receipts and payments basis in accordance with the Church Accounting Regulations 2006, the Charities Act 2011 and the Charities SORP.
2) Mortgage interest paid for the year ended 31 December 2019 included in mortgage repayments totalled £3,122 (2019 - £3,379).
3) The loan for the spire is repayable over ten years and is interest free. The provider wishes to remain anonymous. The PCC consider it is not in the interests of the church to disclose this information.
4) In order to clear the Parish Share arrears for the year ended 31 December 2018 and prior years, All Saints Loose pay for the Curate’s accommodation through the Youth Fund as agreed with the Canterbury Diocese. As at 31 December 2020 a liability of £55,341 is still to be paid under this arrangement
5) Analysis of Donations

Pastor Lazarous Avant Ministries Barnabus Fund Australia Lent Boxes Tear Fund Church Mission Society Missions to Seafarers Church Army Charity Giving 2020 Demelza House Children’s Society Mrs E Dodd – in connection with the children’s society Christian Vision for Men GYP SIM KGP CVM Faith in Kids	2020 £ 2,980 750 - 1,500 95 73 108 59 - - - - - - 1,500 500 500 __ 8,065 ____	2019 £ 3,000 3,000 500 - 115 66 83 52 168 169 13 350 350 350 - - - __ 8,216 ____

6) Payments made to PCC members during the year were as follows:

Reverend S and Mrs H Price were paid £14,400 in rental income in respect of 2 Pearce Gardens, Maidstone, the property being used to accommodate All Saints’ Loose Curate. Reverend S Price is a trustee of All Saints Loose Parochial Church Council (the Charity).

During the year Mrs G Eldred was employed as a Youth Worker. She was paid a gross salary of £9,568. Mrs G Eldred is the wife of Mr R Eldred, a trustee of the Charity.

No other related party to the PCC has been paid or is payable remuneration from the funds of the PCC.

The aggregate of trustee donations without conditions has not been disclosed. The trustees believe that the amount involved is not significant when compared with the giving of all members of the Churches and that no undue influence is exercised by the trustees, individually or collectively, solely because of their giving. In addition, the collection of the data relating to the giving by individuals would risk breaching the confidentiality promised to church members in relation to their giving.

ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL Page 13 YEAR ENDED 31 DECEMBER 2020

Notes to the accounts (continued)

7) Pension arrangements

All Saints Loose participates in the Pension Builder Scheme section of CWPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers.

The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014.

Pension Builder Scheme

The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes.

Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the Receipts and Payments Accounts in the year are contributions payable (2020: £969, 2019: £1,109).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31 December 2016. A valuation as at 31 December 2019 was underway as at 31 December 2020.

For the Pension Builder Classic section, the valuation revealed a deficit of £14.2m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £1.8m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The legal structure of the scheme is such that if another employer fails, All Saints Loose could become responsible for paying a share of that employer’s pension liabilities.