ALL SAINTS LOOSE PAROCHIAL CHURCH COUNCIL
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Charity Number 1147120
DRAFT ACCOUNTS
LEVICKS
Chartered Accountants and Business Advisers 61 London Road Maidstone Kent ME16 8TX
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF PAGE 1 ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2021
I report to the trustees on my examination of the accounts of All Saints, Loose Parochial Church Council for the year ended 31 December 2021, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes set out on pages 2 to 17.
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. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. 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 qualified 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 2 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| All | All | Total | Funds | ||
|---|---|---|---|---|---|
| Note | Unrestrict | Restricte | |||
| ed | d | Restated | |||
| Funds | Funds | 2021 | |||
| 2020 | |||||
| £ | £ | £ | £ | ||
| INCOME FROM: | |||||
| Voluntary income | 2(a) | 195,756 | 26,262 | 222,018 | 182,719 |
| Fees and other income | 2(b) | 6,423 | 27,501 | 33,924 | 33,563 |
| Investment income | 2(c) | 31 | 2 | 33 | 209 |
| _ | _ | _ | _ | ||
| TOTAL INCOME | 202,210 | 53,765 | 255,975 | 216,491 | |
| _ | _ | _ | _ | ||
| EXPENDITURE ON: | |||||
| Ministry expenses | 3(a) | 106,876 | 646 | 107,522 | 106,493 |
| Church expenses | 3(b) | 36,102 | 24,218 | 60,320 | 61,534 |
| Fundraising and publicity | 3(c) | 936 | - | 936 | 524 |
| Church management | 3(d) | 30,052 | 6,379 | 36,431 | 22,289 |
| Donations | 3(e) | - | 4,661 | 4,661 | 7,985 |
| _ | _ | _ | __ | ||
| TOTAL EXPENDITURE | 173,966 | 35,904 | 209,870 | 198,825 | |
| _ | _ | _ | _______ | ||
| NET INCOME/ | 28,244 | 17,861 | 46,105 | 17,666 | |
| (EXPENDITURE) | |||||
| Transfers between funds | 13 | 1,842 | (1,842) | - | - |
| _ | _ | _ | _ | ||
| NET MOVEMENT IN | 30,086 | 16,019 | 46,105 | 17,666 | |
| FUNDS | |||||
| RECONCILIATION OF | |||||
| FUNDS: | |||||
| Total funds brought forward | 10,381 | 163,614 | 173,995 | 156,329 | |
| _ | __ | __ | __ | ||
| Total funds carried forward | 40,467 | 179,633 | 220,100 | 173,995 | |
| _ | __ | __ | __ |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 3 BALANCE SHEET AS AT 31 DECEMBER 2021
| All | All | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Note | Unrestrict | Restricted | |||
| ed | Funds | Restated | |||
| Funds | 2021 | ||||
| 2020 | |||||
| £ | £ | £ | £ | ||
| FIXED ASSETS: | |||||
| Tangible fxed assets | 7 | 1,822 | 152,310 | 154,132 | 154,586 |
| _ | _ | _ | _ | ||
| 1,822 | 152,310 | 154,132 | 154,586 | ||
| CURRENT ASSETS: | |||||
| Debtors | 8 | 9,510 | 3,748 | 13,258 | 9,047 |
| Cash at bank and in | 32,425 | 64,020 | 96,445 | 59,228 | |
| hand | |||||
| _ | _ | _ | _ | ||
| 41,935 | 67,768 | 109,703 | 68,275 | ||
| LIABILITIES: | |||||
| Creditors: Amounts | 9 | 3,290 | 4,778 | 8,068 | 8,065 |
| falling due within one | _ | __ | _ | __ | |
| year | |||||
| NET CURRENT | 38,645 | 62,990 | 101,635 | 60,210 | |
| ASSETS | |||||
| _ | __ | __ | __ | ||
| TOTAL ASSETS | |||||
| LESS CURRENT | 40,467 | 215,300 | 255,767 | 214,796 | |
| LIABILITIES | |||||
| Creditors: Amounts | 10 | - | 35,667 | 35,667 | 40,801 |
| falling due after one | _ | __ | __ | __ | |
| year | |||||
| TOTAL NET ASSETS | 40,467 | 179,633 | 220,100 | 173,995 | |
| _ | __ | __ | __ | ||
| PARISH FUNDS: | |||||
| Unrestricted | 11 | 40,467 | - | 40,467 | 10,381 |
| Restricted | 12 | - | 179,633 | 179,633 | 163,614 |
| _ | __ | __ | __ | ||
| 40,467 | 179,633 | 220,100 | 173,995 | ||
| _ | __ | __ | __ |
Approved by the PCC on and signed on their behalf by:
PCC Chairman PCC Treasurer
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 4 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
a) Basis of preparation and assessment of going concern
The 2021 year is the first year that accruals accounts have been required. The comparative 2020 year was originally prepared on a receipts and payment basis. This has been restated on an accruals basis this year. The change of basis is due to the to the charity exceeding the threshold for receipts and payments accounts. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The PCC constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the PCC’s ability to continue as a going concern.
The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law.
b) Funds structure
Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC.
Unrestricted funds may become designated funds where reserved for a particular purpose by the PCC.
Restricted funds represent donations, legacies or grants received for a specific object, or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.
The PCC does not usually invest separately for each fund except where amounts involved are material. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
c) Income recognition
All incoming resources are recognised when receivable by or on behalf of the PCC.
All income is reported gross of any associated expenditure.
Income tax recoverable on gift aid donations is recognised when the tax is recoverable.
Grants and legacies are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable.
Rental income from the letting of church premises is recognised when the rental is due.
Interest earned on bank deposit accounts is accounted for when received.
Amounts received specifically for mission are dealt with as restricted funds.
Churches are among the most significant volunteer organisations in the country with their members involved in every aspect of Church and community life. It would be impossible, and arguably inappropriate, to attempt to measure the contribution made by church members, safe to say that most charities and churches would simply fail to function without the services of Church volunteers.
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 5 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
The Diocesan Parish Share is accounted for when paid.
e) Tangible fixed assets and depreciation
Assets held previously at cost have been introduced at net book value and depreciated this year using the depreciation policy below.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 20% reducing balance
f) Current assets
Amounts owed to the PCC at the year-end in respect of fees, rents or other income are shown as debtors, less provision for amounts that may prove uncollectible.
g)Current liabilities
Creditors and accruals represent sums irrevocably committed for payment prior to the balance sheet date that were not settled as at that date.
h) Pension costs
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.
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 6 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
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 member’s 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 in the year are £955 (2020: £969).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31 December 2019.
For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m 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 £5.5m 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.
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 7
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
| Unrestrict | Restricted | Total | Unrestrict | Restricted | Total | |
|---|---|---|---|---|---|---|
| ed | Funds | Funds | ed Funds | Funds | Funds | |
| Funds | 2021 | 2021 | 2020 | 2020 | 2020 | |
| 2021 | ||||||
| £ | £ | £ | £ | £ | £ | |
| 2. INCOME FROM: | ||||||
| 2(a) Voluntary income: | ||||||
| Gift aid donations | 140,230 | 11,421 | 151,651 | 104,056 | 9,316 | 113,372 |
| Non tax donations | 1,748 | 1,200 | 2,948 | 3,764 | 235 | 3,999 |
| Donations | 11,548 | - | 11,548 | 14,885 | - | 14,885 |
| Income tax recovered | 37,373 | 9,056 | 46,429 | 31,694 | 9,269 | 40,963 |
| Plate | 1,848 | - | 1,848 | 2,204 | - | 2,204 |
| Christianity Explored | - | - | - | 100 | - | 100 |
| Collection for ministry and | 9 | 4,585 | 4,594 | - | 6,976 | 6,976 |
| charities | ||||||
| Music | 1,000 | - | 1,000 | - | - | - |
| Bequest | 2,000 | - | 2,000 | 220 | - | 220 |
| _ | _ | _ | _ | _ | _ | |
| 195,756 | 26,262 | 222,018 | 156,923 | 25,796 | 182,719 | |
| _ | _ | _ | _ | _ | _ | |
| 2(b) Fees and other income: | ||||||
| Fundraising | 704 | 671 | 1,375 | 204 | - | 204 |
| Magazine | 116 | - | 116 | 165 | - | 165 |
| PCC fees | 4,178 | - | 4,178 | 4,226 | - | 4,226 |
| Gifts | 1,395 | - | 1,395 | - | - | - |
| Messy Church | 30 | - | 30 | 10 | - | 10 |
| Families Minister | - | 16,630 | 16,630 | - | 18,195 | 18,195 |
| Rental income – 588 Loose Road | - | 10,200 | 10,200 | - | 10,200 | 10,200 |
| Fellowship | - | - | - | 563 | - | 563 |
| _ | _ | _ | _ | _ | _ | |
| 6,423 | 27,501 | 33,924 | 5,168 | 28,395 | 33,563 |
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
| Unrestrict | Restricted | Total | Unrestrict | Restricted | Total | |
|---|---|---|---|---|---|---|
| ed | Funds | Funds | ed Funds | Funds | Funds | |
| Funds | 2021 | 2021 | 2020 | 2020 | 2020 | |
| 2021 | ||||||
| £ | £ | £ | £ | £ | £ | |
| 2(c) Investment Income: | ||||||
| Interest | 31 | 2 | 33 | 108 | 101 | 209 |
| _ | _ | _ | _ | _ | _ | |
| 31 | 2 | 33 | 108 | 101 | 209 | |
| _ | _ | _ | _ | _ | _ | |
| £ | £ | £ | £ | £ | £ | |
| 3. EXPENDITURE ON: | ||||||
| 3(a) Ministry expenses: | ||||||
| Parish share | 82,539 | - | 82,539 | 101,549 | - | 101,549 |
| Priest expenses | 1,119 | - | 1,119 | 1,412 | - | 1,412 |
| Vicarage expenses | 403 | - | 403 | 2,269 | - | 2,269 |
| Associate minister | 5,326 | - | 5,326 | - | - | - |
| Associate minister expenses | 4,300 | - | 4,300 | - | - | - |
| 129 Tonbridge Road - rent | 11,716 | - | 11,716 | - | - | - |
| 129 Tonbridge Road - heating, | 183 | - | 183 | - | - | - |
| lighting and water | ||||||
| 129 Tonbridge Road – council tax | 682 | - | 682 | - | - | - |
| Ministry training expenses | 608 | - | 608 | 713 | - | 713 |
| Families minister | - | 646 | 646 | - | 550 | 550 |
| _ | _ | _ | _ | _ | _ | |
| 106,876 | 646 | 107,522 | 105,943 | 550 | 106,493 | |
| _ | _ | _ | _ | _ | _ |
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 9
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
| Unrestrict | Restricted | Total | Unrestrict | Restricted | Total | |
|---|---|---|---|---|---|---|
| ed Funds | Funds | Funds | ed Funds | Funds | Funds | |
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| 3(b) Church expenses: | ||||||
| Heating, lighting and water | 6,617 | - | 6,617 | 6,650 | - | 6,650 |
| Insurance | 3,101 | - | 3,101 | 3,166 | - | 3,166 |
| Upkeep of services | 3,533 | - | 3,533 | 1,499 | - | 1,499 |
| Printing and magazines | 6,441 | - | 6,441 | 6,210 | - | 6,210 |
| I. T. costs | 579 | - | 579 | 1,662 | - | 1,662 |
| Fellowship | 2,359 | - | 2,359 | 1,405 | - | 1,405 |
| Donations | 9,235 | - | 9,235 | 8,065 | - | 8,065 |
| Repairs and organ tuning | - | - | - | 33 | - | 33 |
| Messy Church | 230 | - | 230 | 269 | - | 269 |
| Building work and repairs | 2,317 | 270 | 2,587 | 1,743 | 2,928 | 4,671 |
| Kitchen and cleaning | 585 | - | 585 | 506 | - | 506 |
| Livestreaming | 1,105 | - | 1,105 | 2,212 | - | 2,212 |
| Toddler Praise | - | - | - | 9 | - | 9 |
| Teaching materials | - | 924 | 924 | - | 765 | 765 |
| Youth workers | - | 20,737 | 20,737 | - | 22,493 | 22,493 |
| Youth workers pension | - | 955 | 955 | - | 969 | 969 |
| Activities | - | 1,095 | 1,095 | - | 950 | 950 |
| 2 Pearce Gardens – heating, lighting | - | 237 | 237 | - | - | - |
| and water | ||||||
| _ | _ | _ | _ | _ | _ | |
| 36,102 | 24,218 | 60,320 | 33,429 | 28,105 | 61,534 | |
| _ | _ | _ | _ | _ | _ | |
| 3(c) Fundraising and publicity: | ||||||
| Fundraising expenses | - | - | - | 187 | - | 187 |
| Marketing wages | 636 | - | 636 | - | - | - |
| Bookstall | 300 | - | 300 | 337 | - | 337 |
| _ | _ | _ | _ | _ | _ | |
| 936 | - | 936 | 524 | - | 524 | |
| _ | _ | _ | _ | _ | _ |
NOTES TO THE FINANCIAL STATEMENTS PAGE 10
FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
| Unrestrict | Restricted | Total | Unrestrict | Restricted | Total | |
|---|---|---|---|---|---|---|
| ed Funds | Funds | Funds | ed Funds | Funds | Funds | |
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| 3(d) Church management: | ||||||
| Independent examiner fees | 2,268 | - | 2,268 | 1,860 | - | 1,860 |
| Parish ofice | 912 | - | 912 | 1,176 | - | 1,176 |
| Stationery | - | - | - | 756 | - | 756 |
| Secretary | 10,831 | - | 10,831 | 9,498 | - | 9,498 |
| Director of music and technology | 10,350 | - | 10,350 | - | - | - |
| PCC expenses | 5,192 | - | 5,192 | 2,601 | - | 2,601 |
| Bank charges | 45 | 96 | 141 | 265 | 60 | 325 |
| Depreciation | 454 | - | 454 | - | - | - |
| Interest | - | 2,789 | 2,789 | - | 3,123 | 3,123 |
| Insurance | - | 580 | 580 | - | 558 | 558 |
| House expenses | - | 1,914 | 1,914 | - | 892 | 892 |
| Chapel expenses | - | 1,000 | 1,000 | - | 1,500 | 1,500 |
| _ | _ | _ | _ | _ | _ | |
| 30,052 | 6,379 | 36,431 | 16,156 | 6,133 | 22,289 | |
| _ | _ | _ | _ | _ | _ | |
| 3(e) Donations: | ||||||
| Donations – other charities | - | 4,661 | 4,661 | 647 | 7,338 | 7,985 |
| _ | _ | _ | _ | _ | _ | |
| - | 4,661 | 4,661 | 647 | 7,338 | 7,985 | |
| _ | _ | _ | _ | _ | _ |
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 11 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
4. RELATED PARTIES
Reverend S and Mrs H Price were paid £7,200 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 PCC.
Tim Morgan is employed by the Church and received a total salary in the year of £10,021. Tim Morgan is a member of the PCC.
No other related party to the PCC has been paid or is payable remuneration from the funds of the PCC.
There were no donations made to the PCC by trustees with conditions attached.
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 Church 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.
5. STAFF COSTS
| Wages and salaries Pension contributions |
2021 £ 49,145 1,512 50,657 |
2020 £ 30,533 1,292 |
|
|---|---|---|---|
31,825 |
No employee received benefits in excess of £60,000 (2020 – none)
The average number of employees during the year was 3 (2020 – 4)
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL
PAGE 12
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
6. INDEPENDENT EXAMINATION AND ACCOUNTANCY FEES
The fee charged by the independent examiner for the examination is £948 plus a further £1,320 for accountancy services, VAT inclusive.
7. TANGIBLE FIXED ASSETS
| Freehold | Church | Total | |
|---|---|---|---|
| Land and | Equipment | ||
| Buildings | |||
| £ | £ | £ | |
| ACTUAL/DEEMED | |||
| COST | |||
| At 1 January 2021 and | 152,310 | 2,276 | 154,586 |
| at 31 December 2021 | |||
| __ | __ | __ | |
| DEPRECIATION | |||
| At 1 January 2021 | - | - | - |
| Charge for the year | - | 454 | 454 |
| __ | __ | __ | |
| At 31 December 2021 | - | 454 | 454 |
| __ | __ | __ | |
| NET BOOK VALUE | |||
| At 31 December 2021 | 152,310 | 1,822 | 154,132 |
| __ | __ | __ | |
| At 31 December 2020 | 152,310 | 2,276 | 154,586 |
| __ | __ | __ |
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 13 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
| 8. DEBTORS | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Tax recoverable | 8,919 | 7,048 | |
| PWA High Leigh | 1,224 | 1,224 | |
| 10 of those.com | - | 775 | |
| 129 Tonbridge Road deposit | 3,115 | - | |
| ______ | ______ | ||
| 13,258 | 9,047 | ||
| ______ | ______ | ||
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN | |||
| ONE YEAR | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Mortgage – 558 Loose Road | 4,778 | 5,445 | |
| Spire loan | 1,022 | 1,440 | |
| Independent examiners fees | 2,268 | 930 | |
| Livestreaming | - | 250 | |
| ______ | ______ | ||
| 8,068 | 8,065 | ||
| ______ | ______ |
An amount of £19,341 (2020: £26,541) is outstanding for Parish Share. As there is no legal obligation to pay this it has not been included in the creditors.
10. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
| ONE YEAR | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Mortgage – 558 Loose Road | 35,667 | 39,779 |
| Spire loan | - | 1,022 |
| _____ | _____ | |
| 35,667 | 40,801 | |
| ______ | ______ |
The loan for the spire is repayable over ten years and is interest free.
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 14 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
11. UNRESTRICTED FUNDS
| General | Designate | Designate | TOTAL | |
|---|---|---|---|---|
| d | d | |||
| Unrestric | Bequest | Trainee/ | ||
| ted | Apprentic | |||
| e | ||||
| Funds | Fund | Fund | ||
| £ | £ | £ | £ | |
| Balance b/fwd 1 January | 12,776 | - | 1,733 | 14,509 |
| 2020 | ||||
| Income | 160,929 | 220 | 1,050 | 162,199 |
| Expenditure | (156,479) | (220) | - | (156,699) |
| Transfers between funds | (9,628) | - | - | (9,628) |
| _ | _ | _ | _ | |
| Balance c/fwd 31 | 7,598 | - | 2,783 | 10,381 |
| December 2020 | ||||
| _ | _ | _ | _ | |
| Balance b/fwd 1 January | 7,598 | - | 2,783 | 10,381 |
| 2021 | ||||
| Income | 200,210 | 2,000 | - | 202,210 |
| Expenditure | (173,966) | - | - | (173,966) |
| Transfers between funds | 1,862 | - | (20) | 1,842 |
| _ | _ | _ | _ | |
| Balance c/fwd 31 | 35,704 | 2,000 | 2,763 | 40,467 |
| December 2021 | ||||
| _ | _ | _ | _ |
Designated Funds
Bequest Fund There were no
funds until an
During 2021 the PCC received two bequests from church members. restrictions on the gifts but the PCC has decided to set aside these appropriate project can be found.
Trainee/Apprentice Funds received by the PCC from church members set aside to be used to support
Fund London.
apprentices training when attending Cornhill Training College in
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 15 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
12. RESTRICTED FUNDS
| Balance b/fwd 1 January 2020 Income Expenditure Transfers between funds Balance c/fwd 31 December 2020 Balance b/fwd 1 January 2021 Income Expenditure Transfer between funds Balance c/fwd 31 December 2021 |
Youth Barnabas Millenium Zambian Fund Fund Fund Support Fund £ £ £ £ 139,631 2,083 106 - 47,439 7 - 513 (31,860) (500) - (509) 6,700 - - - 161,910 1,590 106 4 161,910 1,590 106 4 48,113 1 - 249 (30,973) - - (253) (2,132 ) - - - 176,918 1,591 106 - |
Zambian Church Fund £ - 513 (509) - 4 4 249 (253) - - |
|---|---|---|
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 16 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
12. RESTRICTED FUNDS (CONT’D)
| Zambian | Boiler | High | Zambian | Australian | Total | |
|---|---|---|---|---|---|---|
| Orphans | Repair | Leigh | Education | Morrison’ | ||
| Fund | Fund | Fund | Fund | s Fund | ||
| £ | £ | £ | £ | £ | £ | |
| Balance b/fwd | ||||||
| 1 January 2020 | - | - | - | - | 141,820 | |
| - | ||||||
| Income | 1,650 | - | - | 750 | 3,420 | 54,292 |
| Expenditure | (1,650) | (2,928) | - | (750) | (3,420) | (42,126) |
| Transfers between | - | 2,928 | - | - | - | 9,628 |
| funds | ||||||
| ______ | ______ | ______ | ______ | ______ | ______ | |
| Balance c/fwd | ||||||
| 31 December 2020 | - | - | - | - | 163,614 | |
| - | ||||||
| ______ | ______ | ______ | ______ | ______ | _____ | |
| Balance b/fwd | ||||||
| 1 January 2021 | - | - | - | - | 163,614 | |
| - | ||||||
| Income | 1,650 | - | 825 | 750 | 1,928 | 53,765 |
| Expenditure | (1,650) | (270) | - | (750) | (1,755) | (35,904) |
| Transfers between | - | 270 | - | - | 20 | (1,842) |
| funds | ||||||
| ______ | ______ | ______ | _____ | ______ | ______ | |
| Balance c/fwd | ||||||
| 31 December 2021 | - | 825 | - | 193 | 179,633 | |
| - | ||||||
| ______ | ______ | ______ | _____ | ______ | ______ |
ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 17 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT’D)
12. RESTRICTED FUNDS (CONT’D)
Restrictions on funds:-
Youth Fund
Barnabas Fund
Millennium Fund
Zambian Support Fund Zambian Church Fund Zambian Orphans Fund Boiler Repair Fund High Leigh Fund
Zambian Education Fund Australian Morrison’s Fund
Funds for the use of the Children, Youth and Families Ministers. For their salary, associated costs and towards resources, and for the rent of 2 Pearce Gardens.
Funds for supporting people in need in the Parochial Church area of Loose
An old fund established to raise funds for the reordering of the church building. Now not in use there is a small amount remaining within the National Westminster Bank account. Individual support given by church members to one of our Mission Partners – Support is for Pastor Lazarous For the church building maintenance in the care of Pastor Lazarous in Zambia. For the orphans under the care of Pastor Lazarous in Zambia who have lost their parents through HIV and Aids. This was money given to replace the central heating boiler in church.
This collects funds from church members to pay for their attendance at a Parish Weekend away, which is happening this year – 29th April to 1st May 2022. Contribution towards the cost of education for students under Pastor Lazarous’ care who are attending university. Mission partners in Sydney, Australia.
13. TRANSFERS
| Youth Fund. Transfer from the Restricted Youth Fund to the Unrestricted General Fund as a contribution towards the cost of the director of music and technology in relation to his family minster work. Trainee/Apprentice Fund. Transfer from the Designated Trainee/Apprentice Fund to the Restricted Australian Morrison’s Fund for training costs for theology in Australia. General Fund. Transfer from the Unrestricted General Fund to the Restricted Boiler Repair Fund for boiler maintenance. |
£ 2,132 |
|---|---|
| 20 | |
| 270 | |