## **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.