All Saints’ Loose Church Street Loose ME15 0BU
Tel: 01622 741265 Email: admin@allsaintsloose.org.uk Charity Reg. No: 1147120
Incumbent: Steve Price of 17 Linton Road, Loose, ME15 0AG
## **Annual Report of the PCC for Financial Year 2022-23**
**The following report on the proceedings of the parochial church council and the activities of the parish generally has been adopted by the PCC and signed by the chairman of the PCC meeting at which it was adopted.**
## **PCC Members**
Below is a list of members of the PCC for the 2022-23 financial year.
**----- Start of picture text -----**
Steve Price Clerk in Holy Orders
Chris Thom Clerk in Holy Orders
Chris Conn Clerk in Holy Orders
Andie Kemp Churchwarden Elected in 2021
Michael Cooper Churchwarden Elected in 2020
Nicholas Good Treasurer Elected in 2020
Deanery Ex-Officio
Edward Crossley representative/Laity
Susan Twyman Laity Elected in 2019
Tim Morgan Laity Elected in 2021
Deanery Resigned April 2023
Barbara Lewis representative/Laity
Linde Potgieter Laity Elected in 2020
Ian Whittle Laity Elected in 2020
Ann White Laity Elected in 2021
Alan Ridd Laity Elected in 2021
Annamaria Since July 2022
Potgieter PCC Secretary
**----- End of picture text -----**
**The total number of people on the electoral roll in April 2023 was 102, meaning that there should be 9-12 members of laity elected to the PCC.**
**Aims and Purposes**
The PCC’s overall objective continues to be to work with the incumbent to fulfil the vision of the church which is summarised in the mission statement “Going for Growth in Christ”.
This vision can be expanded as being Christ-focused, seeking to maintain the importance of Jesus Christ and the proclamation of Him as the central heart of what we are all about. ‘Going for Growth in Christ’ is in summary about the proclamation of the gospel and the development of mature discipleship in the membership.
We are also aiming to bring an understanding of the Christian faith to the local community, seeking to provide for their spiritual needs and contribute to the common well-being of the parish.
## **Objectives and Activities**
The objectives of the church have remained unchanged which is to enable the spiritual needs of the parish to be met by providing a clear understanding of the Christian faith, and for the church to be a place for Christian teaching, worship, prayer and care to build mature disciples. The vision statement was developed over the previous year with engagement and oversight from the PCC and launched in the Autumn of 2019 and is now embedded in the life of the church. This formalises the church priorities on evangelism and personal discipleship, which then underpins all the church services and other programmes of the church. Particular attention has been given to preaching the Bible, God’s word, meeting regularly on Sundays, prayer, partnership together in the work, commitment to Sunday worship and home groups, and personal spiritual growth and evangelism. There is an ongoing vision to plant a new church out of All Saints and we are continuing to encourage the congregation to commit to this vision through the above commitments and sacrificial giving.
The regular activities of the church are detailed below:
- Sunday service at 10.30am
- Children’s and youth work
- Prayer meeting on Monday mornings on Zoom
- Home groups on Tuesday, Wednesday and Thursday
- Ladies Bible Study on Friday
- Messy Church on the 3[rd] Saturday of each month
- Toddler Praise each Thursday
- Holiday Club once a year before Easter, which is open to church members and the local community.
- Christianity Explored course on 7 consecutive evenings once a year, which is available to the whole community.
- Specific events for men and women and socials events to enable building of friendships and provide an opportunity for those who are not church members to hear about the Christian faith.
- Baptisms, thanksgiving services, marriages and funerals for church members and residents of the local parish, in line with the policy of the Church of England.
- The Christmas programme included Carols by Candlelight, Christingles and Walkabout Nativity which was a great outreach programme to the community.
We regularly contribute to local community events such as the Loose Duck Race by providing refreshments and toilet facilities, and the Loose Parish Fete. We welcome and allow the building to be used by local groups such as the Loose Valley Wives group and Loose Amenities Association. We have been undertaking 2 assemblies per 2-week term at Loose Primary school, and we have held their end of term services in church, to which family members are invited too.
The work of the PCC and the church as a whole is largely conducted by the voluntary efforts of members. Paid staff include the parish administrator, children’s worker, and youth worker. Additionally, we have a curate who was initially recruited as an assistant minister but was then taken on by the diocese as a curate for training.
## **Achievements and Performance**
We would estimate a Sunday morning involvement of around 85 adults and 30 -40 children We have seen quite a few new people come to the church as we returned to the building from restrictions.
Home groups (Tuesday – 1 group, Wednesday – 3 groups, Thursday – 2 groups) and Ladies Bible Study on Fridays. The groups are popular and about half of the congregation attends them.
The music activities of the church have been led successfully by Tim Morgan, it is fair to say that music a huge contribution to our worship.
We have a pastoral team who visit the elderly in local residential homes to conduct a short service for them and deliver holy communion.
Detailed reports from leaders of the various activities can be found in the accompanying document entitled ‘All Saints Loose Annual Reports 2022-2023’.
## **Financial Review**
Over the calendar year 2022, ASL received donations (which is presented along with the tax reclaimable) and other fees/income of £259,470. ASL incurred expenditure totalling £280,295, leading to a deficit of £20,825, as shown in the table below:
|General fund
Restricted funds
Total
_2021_
_comparative_
_2020_
_comparative_
_2019_
_comparative_|**Income**
**Expenditure**
**Net**
191,778
(170,462)
21,316
67,692
(109,833)
(42,141)
259,470
(280,295)
**(20,825)**
255,975
(208,870)
46,105
208,669
(203,540)
5,129
208,578
(209,636)
(1,058)|**Net**
21,316
(42,141)|
|---|---|---|
|||46,105
5,129
(1,058)|
_Note: from 2021 the financial statements have moved to an accruals basis of preparation such the comparison is not on a precisely like-for-like basis_
_between, on the one hand 2021 and 2022, and on the other hand 2020 and 2019.._
The largest single item of expenditure is the parish share paid to the Diocese of Canterbury of £88,759 (the requested parish share was £81,908 – the excess being in relation to a prior year). The requested parish share for calendar year 2023 is £87,225.
Whilst giving increases very slightly in 2022 as compared to 2021, there has been a significant increase in costs. This was principally due to the recruitment in autumn 2021 of the leader for the proposed plant. Expenditure associated with this was only incurred for approximately one third of year in 2021 but for a full year in 2022. The other significant impact has been the increase in gas and electricity costs (nearly doubled from £6,617 to £12,777) which has been partly offset by a grant from the Church Commissions of £4,400 which has been spread 50/50 across 2022 and 2023.
The parish as at 31 December 2022 had cash in bank of £77,574 (2021: £96,445) offset in part by a mortgage on the property at 588 Loose Road (currently rented out) of £35,350 (£40,445).
The income of the parish remains dependent on donations from members of the church (over 85% of income).
As can be seen, a deficit of the same size in 2023 can be covered from existing reserves but in the medium term an increased level of giving would be required to maintain the activity level of ASL at the current levels.
## **Reserves Policy**
There are reserves in the current account about £50,000 within the restricted account savings. A formal reserves policy does not exist but if it became necessary to apply savings we would seek to prioritise staff salaries and church planting objectives.
## **Plans for Future Periods**
The details of the Planting Group achievements can be found in the accompanying document entitled ‘All Saints Loose Annual Reports 2022-2023’. Where we also detail about the huge influx of youth and the related plans to discipling them.
## **Risk Management**
The major risks to the church are still the precarious nature of the finances. The building is very old and needs constant repairs. From a ministry viewpoint, we are dependent on the use of the old Baptist chapel for our children’s work on Sundays and this is possible at present because the Vine Church who own the building allow us to utilise it and don’t use it themselves. During this year we have been able to use the chapel on Sunday mornings. Further options of additional building spaces are to be explored, especially with the huge influx of youth from September 2023.
**The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops’ guidance on safeguarding children and vulnerable adults).**
## **Structure, Governance and Management**
The Parochial church council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a registered charity. The appointment of PCC members is governed by and set out in the Church Representation Rules.
The PCC has responsibility for a wide range of matters including health and safety, disability discrimination legislation, and child protection. Appropriate training in these matters is provided by the Diocese and attended as relevant by PCC members and other church members.
The PCC meets every 2 months and the parish administrator has acted as the secretary, but is now stepping down. The Standing Committee is a sub-committee of the PCC and meets a week before the PCC to have an initial discussion of any major matters and to consider the PCC agenda. Major decisions are not in general made by the Standing Committee, but meetings provide an opportunity to discuss issues in a smaller group and enable the PCC to have a more focused discussion. The setting of pay for church employees is determined by the PCC.
## Administrative Information
The PCC is known as the All Saints’ Loose PCC. It meets at All Saints’ Church, Church Street, Loose, Maidstone, Kent. The correspondence address is the church office at the top of this document.
The name of the independent auditor is Levicks Chartered Accountants & Business Advisors of 61 London Road, Maidstone, Kent ME16 8TX.
Day-to-day management is in the hands of the incumbent and wardens assisted by the parish administrator.
# **ALL SAINTS LOOSE PAROCHIAL CHURCH COUNCIL FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Charity Number 1147120**
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 2022**
I report to the trustees on my examination of the accounts of All Saints, Loose Parochial Church Council for the year ended 31 December 2022, 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.
61 London Road Maidstone Kent ME16 8TX
J A Griggs FCA LEVICKS
Chartered Accountants & Business Advisers
5 May 2023
**PAGE 2**
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|||All|All|Total|Funds|
|---|---|---|---|---|---|
||Note|Unrestricted|Restricted|||
|||Funds|Funds|2022|2021|
|||£|£|£|£|
|**INCOME FROM:**||||||
|Voluntary income|2(a)|186,119|53,150|239,269|238,648|
|Fees and other income|2(b)|4,763|14,540|19,303|17,294|
|Investment income|2(c)|896|2|898|33|
|||_______|_______|_______|_______|
|**TOTAL INCOME**||191,778|67,692|259,470|255,975|
|||_______|_______|_______|_______|
|**EXPENDITURE ON:**||||||
|Ministry expenses|3(a)|95,040|62,036|157,076|107,522|
|Church expenses|3(b)|44,805|23,665|68,470|60,320|
|Fundraising and publicity|3(c)|396|-|396|936|
|Church management|3(d)|30,221|20,610|50,831|36,431|
|Donations|3(e)|-|3,522|3,522|4,661|
|||_______|_______|_______|_______|
|TOTAL EXPENDITURE||170,462|109,833|280,295|209,870|
|||_______|_______|_______|_______|
|**NET INCOME/ (EXPENDITURE)**||21,316|(42,141)|(20,825)|46,105|
|Transfers between funds|13|(10,904)|10,904|-|-|
|||_______|_______|_______|_______|
|**NET MOVEMENT IN FUNDS**||10,412|(31,237)|(20,825)|46,105|
|**RECONCILIATION OF FUNDS:**||||||
|Total funds brought forward||40,467|179,633|220,100|173,995|
|||_______|________|________|________|
|
Total funds carried forward||50,879|148,396|199,275|220,100|
|||_______|________|________|________|
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 2022**
|||All|All|Total|Funds|
|---|---|---|---|---|---|
||Note|Unrestricted|Restricted|||
|||Funds|Funds|2022|2021|
|||£|£|£|£|
|**FIXED ASSETS:**||||||
|Tangible fixed assets|7|1,458|152,310|153,768|154,132|
|||_______|_______|_______|_______|
|||1,458|152,310|153,768|154,132|
|**CURRENT ASSETS:**||||||
|Debtors|8|7,486|607|8,093|13,258|
|Cash at bank and in hand||46,745|30,829|77,574|96,445|
|||_______|_______|_______|_______|
|||54,231|31,436|85,667|109,703|
|**LIABILITIES:**||||||
|Creditors: Amounts falling|9|4,810|5,096|9,906|8,068|
|due within one year||_______|________|_______|________|
|**NET CURRENT ASSETS**||49,421|26,340|75,761|101,635|
|||_______|________|________|________|
|**TOTAL ASSETS LESS**||||||
|**CURRENT LIABILITIES**||50,879|178,650|229,529|255,767|
|Creditors: Amounts falling|10|-|30,254|30,254|35,667|
|due after one year||_______|________|________|________|
|**TOTAL NET ASSETS**||50,879|148,396|199,275|220,100|
|||_______|________|________|________|
|**PARISH FUNDS:**||||||
|Unrestricted|11|50,879|-|50,879|40,467|
|Restricted|12|-|148,396|148,396|179,633|
|||_______|________|________|________|
|||50,879|148,396|199,275|220,100|
|||_______|________|________|________|
Approved by the PCC on 23 April 2023 and signed on their behalf by:
S A Price – PCC Chairman
N Good – PCC Treasurer
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 4 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 prior to this it was prepared on a receipts and payment basis. 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 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
**PAGE 5**
## **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 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
**PAGE 6**
Pension Builder Classic provides a pension, 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. Discretionary increases may also be added, depending on investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.
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 means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2022: £2,634, 2021: £1,512).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.
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 to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. 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.
**PAGE 7**
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
||£|£|£|£|£|£|
|**2. INCOME FROM:**|||||||
|2(a) Voluntary income:|||||||
|Gift aid donations|124,763|10,046|134,809|140,230|11,421|151,651|
|Families Minister|-|19,300|19,300|-|16,630|16,630|
|Non tax donations|719|70|789|1,748|1,200|2,948|
|Donations|28,019|-|28,019|11,548|-|11,548|
|Income tax recovered|28,324|9,994|38,318|37,373|9,056|46,429|
|Plate|2,864|-|2,864|1,848|-|1,848|
|Passion 4 life|1,430|-|1,430|-|-|-|
|Collection for ministry and charities|-|13,740|13,740|9|4,585|4,594|
|Music|-|-|-|1,000|-|1,000|
|Bequest|-|-|-|2,000|-|2,000|
||_______|_______|_______|_______|_______|_______|
||186,119|53,150|239,269|195,756|42,892|238,648|
||_______|_______|_______|_______|_______|_______|
|2(b) Fees and other income:|||||||
|Fundraising|1,569|740|2,309|704|671|1,375|
|Magazine|-|-|-|116|-|116|
|PCC fees|2,327|-|2,327|4,178|-|4,178|
|Gifts|750|-|750|1,395|-|1,395|
|Messy Church|105|-|105|30|-|30|
|Rental income – 588 Loose Road|-|10,200|10,200|-|10,200|10,200|
|Fellowship|12|-|12|-|-|-|
|Plant donations|-|3,600|3,600|-|-|-|
||_______|_______|_______|_______|_______|_______|
||4,763|14,540|19,303|6,423|10,871|17,294|
||_______|_______|_______|_______|_______|_______|
**PAGE 8**
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
||£|£|£|£|£|£|
|2(c) Investment Income:|||||||
|Interest|896|2|898|31|2|33|
||_______|_______|_______|_______|_______|_______|
||896|2|898|31|2|33|
||_______|_______|_______|_______|_______|_______|
||£|£|£|£|£|£|
|**3. EXPENDITURE ON:**|||||||
|3(a) Ministry expenses:|||||||
|Parish share|88,759|-|88,759|82,539|-|82,539|
|Priest expenses|1,446|-|1,446|1,119|-|1,119|
|Vicarage expenses|1,280|-|1,280|403|-|403|
|Associate minister|-|29,752|29,752|5,326|-|5,326|
|Associate minister expenses|-|1,263|1,263|4,300|-|4,300|
|129 Tonbridge Road - rent|-|27,000|27,000|11,716|-|11,716|
|129 Tonbridge Road - heating, lighting and|-|778|778|183|-|183|
|water|||||||
|129 Tonbridge Road – council tax|-|3,243|3,243|682|-|682|
|Ministry training expenses|917|-|917|608|-|608|
|Families minister|-|-|-|-|646|646|
|Christianity Explored|222|-|222|-|-|-|
|Passion 4 Life|2,416|-|2,416|-|-|-|
||_______|_______|_______|_______|_______|_______|
||95,040|62,036|157,076|106,876|646|107,522|
||_______|_______|_______|_______|_______|_______|
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS**
**PAGE 9**
## **FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
|3(b) Church expenses:|||||||
|Heating, lighting and water|10,577|-|10,577|6,617|-|6,617|
|Insurance|3,214|-|3,214|3,101|-|3,101|
|Upkeep of services|2,311|-|2,311|3,533|-|3,533|
|Printing and magazines|7,174|-|7,174|6,441|-|6,441|
|I. T. costs|113|-|113|579|-|579|
|Fellowship|2,205|-|2,205|2,359|-|2,359|
|Donations|10,862|1,000|11,862|9,235|-|9,235|
|Gifts|2,581|-|2,581|-|-|-|
|Messy Church|635|-|635|230|-|230|
|Building work and repairs|3,550|-|3,550|2,317|270|2,587|
|Kitchen and cleaning|1,074|-|1,074|585|-|585|
|Livestreaming|317|-|317|1,105|-|1,105|
|Toddler Praise|12|-|12|-|-|-|
|Teaching materials|-|1,159|1,159|-|924|924|
|Youth workers|-|20,144|20,144|-|20,737|20,737|
|Youth workers pension|-|878|878|-|955|955|
|Activities|-|484|484|-|1,095|1,095|
|2 Pearce Gardens – heating, lighting and water|-|-|-|-|237|237|
|Boiler repair|180|-|180|-|-|-|
||_______|_______|_______|_______|_______|_______|
||44,805|23,665|68,470|36,102|24,218|60,320|
||_______|_______|_______|_______|_______|_______|
|3(c) Fundraising and publicity:|||||||
|Fundraising expenses||||-|-|-|
|Marketing wages|81|-|81|636|-|636|
|Bookstall|315|-|315|300|-|300|
||_______|_______|_______|_______|_______|_______|
||396|-|396|936|-|936|
||_______|_______|_______|_______|_______|_______|
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
**PAGE 10**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
|3(d) Church management:|||||||
|Independent examiner fees|984|-|984|2,268|-|2,268|
|Parish office|1,300|-|1,300|912|-|912|
|Stationery|151|-|151|-|-|-|
|Secretary|11,965|-|11,965|10,831|-|10,831|
|Director of music and technology|12,640|-|12,640|10,350|-|10,350|
|PCC expenses|2,742|-|2,742|5,192|-|5,192|
|Bank charges|75|126|201|45|96|141|
|Depreciation|364|-|364|454|-|454|
|Interest|-|2,472|2,472|-|2,789|2,789|
|Insurance|-|666|666|-|580|580|
|House expenses|-|873|873|-|1,914|1,914|
|Chapel expenses|-|3,500|3,500|-|1,000|1,000|
|Parish weekend away|-|12,973|12,973||||
||_______|_______|_______|_______|_______|_______|
||30,221|20,610|50,831|30,052|6,379|36,431|
||_______|_______|_______|_______|_______|_______|
|3(e) Donations:|||||||
|Donations – other charities|-|3,522|3,522|-|4,661|4,661|
||_______|_______|_______|_______|_______|_______|
||-|3,522|3,522|-|4,661|4,661|
||_______|_______|_______|_______|_______|_______|
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 11 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **4. RELATED PARTIES**
Reverend S and Mrs H Price was paid £0 (2021 - £7,200) in rental income in respect of 2 Pearce Gardens, Maidstone, the property being used to accommodate All Saints Loose Curate. Mrs H Price received a honorarium as agreed by PCC in 2022 of £1,500 and is the wife of Reverend S Price. 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 £12,025 (2021 - £10,021). He also received a donation from the Barnabus fund of £500. Tim Morgan is a trustee of the All Saints Loose PCC.
Annamaria Potgieter is employed by the Church and received a total salary in the year of £4,171 (2021 - nil). Annamaria Potgieter and her husband Linde Potgieter are both trustees of All Saints Loose 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 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|2022
£
72,745
2,634
75,379|2021
£
49,145
1,512
50,657|
|---|---|---|
No employee received benefits in excess of £60,000 (2021 – none)
The average number of employees during the year was 4 (2021 – 3)
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 12**
## **NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **6. INDEPENDENT EXAMINATION AND ACCOUNTANCY FEES**
The fee charged by the independent examiner for the examination is £984, VAT inclusive.
## **7. TANGIBLE FIXED ASSETS**
||Freehold|Church|Total|
|---|---|---|---|
||Land and|Equipment||
||Buildings|||
||**£**|**£**|**£**|
|**ACTUAL/DEEMED COST**||||
|At 1 January 2022 and at 31|152,310|2,276|154,586|
|December 2022||||
||________|________|________|
|**DEPRECIATION**||||
|At 1 January 2022|-|454|454|
|Charge for the year|-|364|364|
||________|________|________|
|At 31 December 2022|-|818|818|
||________|________|________|
|**NET BOOK VALUE**||||
|At 31 December 2022|152,310|1,458|153,768|
||________|________|________|
|At 31 December 2021|152,310|1,822|154,132|
||________|________|________|
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 13 NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **8. DEBTORS**
|**8. DEBTORS**|||
|---|---|---|
||2022|2021|
||£|£|
|Tax recoverable|4,978|8,919|
|PWA High Leigh|-|1,224|
|129 Tonbridge Road deposit|3,115|3,115|
||______|______|
||8,093|13,258|
||______|______|
|**9. CREDITORS: AMOUNTS FALLING DUE WITHIN**|||
|**ONE YEAR**|||
||2022|2021|
||£|£|
|Mortgage – 558 Loose Road|5,096|4,778|
|Spire loan|-|1,022|
|Independent examiners fees|984|2,268|
|British Gas|209|-|
|Accrued income – heating grant|2,200|-|
|Heating repair bills|1,417|-|
||______|______|
||9,906|8,068|
||______|______|
An amount of £19,341 (2021: £19,341) 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**
||||2022|2021|
|---|---|---|---|---|
||||£|£|
|Mortgage –|558|Loose Road|30,254|35,667|
||||_____|_____|
||||30,254|35,667|
||||______|______|
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 2022 (CONT’D)**
## **11. UNRESTRICTED FUNDS**
||General|Designated|Designated|TOTAL|
|---|---|---|---|---|
||Unrestricted|Bequest|Trainee/||
||||Apprentice||
||Funds|Fund|Fund||
||£|£|£|£|
|Balance b/fwd 1 January 2021|7,598|-|2,783|10,381|
|Income|200,210|2,000|-|202,210|
|Expenditure|(173,966)|-|-|(173,966)|
|Transfers between funds|1,862|-|(20)|1,842|
||_______|_______|_______|_______|
|Balance c/fwd 31 December 2021|35,704|2,000|2,763|40,467|
||_______|_______|_______|_______|
|Balance b/fwd 1 January 2022|35,704|2,000|2,763|40,467|
|Income|191,778|-|-|191,778|
|Expenditure|(170,462)|-|-|(170,462)|
|Transfers between funds|(10,904)|-|-|(10,904)|
||_______|_______|_______|_______|
|Balance c/fwd 31 December 2022|46,116|2,000|2,763|50,879|
||_______|_______|_______|_______|
## Designated Funds
Bequest Fund
During 2021 the PCC received two bequests from church members. There were no restrictions on the gifts but the PCC has decided to set aside these funds until an appropriate project can be found.
Trainee/Apprentice Fund
Funds received by the PCC from church members set aside to be used to support apprentices training when attending Cornhill Training College in London.
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 15 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **12. RESTRICTED FUNDS**
|Balance b/fwd 1 January 2021
Income
Expenditure
Transfer between funds
Balance c/fwd 31 December 2021
Balance b/fwd 1 January 2022
Income
Expenditure
Transfer between funds
Balance c/fwd 31 December 2022|Youth
Barnabas
Millenium
Zambian
Fund
Fund
Fund
Support
Fund
£
£
£
£
161,910
1,590
106
4
48,113
1
-
249
(30,973)
-
-
(253)
(2,132)
-
-
-
176,918
1,591
106
-
176,918
1,591
106
-
53,237
-
-
2,085
(92,338)
(1,000)
-
(1,511)
8,656
-
-
-
146,473
591
106
574|Zambian
Church
Fund
£
4
249
(253)
-
-
-
263
(210)
-
53|
|---|---|---|
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 16 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **12. RESTRICTED FUNDS (CONT’D)**
||Zambian|Boiler Repair|High Leigh|Zambian|Australian|Total|
|---|---|---|---|---|---|---|
||Orphans Fund|Fund|Fund|Education|Morrison’s||
|||||Fund|Fund||
||£|£|£|£|£|£|
|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 funds|-|270|-|-|20|(1,842)|
||______|______|______|______|______|______|
|Balance c/fwd|||||||
|31 December 2021|-|-|825|-|193|179,633|
||______|______|______|______|______|_____|
|Balance b/fwd|||||||
|1 January 2022|-|-|825|-|193|179,633|
|Income|1,650|-|9,900|750|(193)|67,692|
|Expenditure|(1,238)|-|(12,973)|(563)|-|(109,833)|
|Transfers between funds|-|-|2,248|-|-|10,904|
||______|______|______|_____|______|______|
|Balance c/fwd|||||||
|31 December 2022|412|-|-|187|-|148,396|
||______|______|______|_____|______|______|
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 17 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (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 within the 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. This finished this year.
## **13. TRANSFERS**
£
Youth Fund. Transfer from the Unrestricted General Fund to the 8,656 Restricted Youth Fund as a contribution towards costs.
General Fund. Transfer from the Unrestricted General Fund to the 2,248 Restricted High Leigh Fund for the extra costs relating to the parish weekend away.
# **ALL SAINTS LOOSE PAROCHIAL CHURCH COUNCIL FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Charity Number 1147120**
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 2022**
I report to the trustees on my examination of the accounts of All Saints, Loose Parochial Church Council for the year ended 31 December 2022, 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.
61 London Road Maidstone Kent ME16 8TX
J A Griggs FCA LEVICKS
Chartered Accountants & Business Advisers
5 May 2023
**PAGE 2**
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|||All|All|Total|Funds|
|---|---|---|---|---|---|
||Note|Unrestricted|Restricted|||
|||Funds|Funds|2022|2021|
|||£|£|£|£|
|**INCOME FROM:**||||||
|Voluntary income|2(a)|186,119|53,150|239,269|238,648|
|Fees and other income|2(b)|4,763|14,540|19,303|17,294|
|Investment income|2(c)|896|2|898|33|
|||_______|_______|_______|_______|
|**TOTAL INCOME**||191,778|67,692|259,470|255,975|
|||_______|_______|_______|_______|
|**EXPENDITURE ON:**||||||
|Ministry expenses|3(a)|95,040|62,036|157,076|107,522|
|Church expenses|3(b)|44,805|23,665|68,470|60,320|
|Fundraising and publicity|3(c)|396|-|396|936|
|Church management|3(d)|30,221|20,610|50,831|36,431|
|Donations|3(e)|-|3,522|3,522|4,661|
|||_______|_______|_______|_______|
|TOTAL EXPENDITURE||170,462|109,833|280,295|209,870|
|||_______|_______|_______|_______|
|**NET INCOME/ (EXPENDITURE)**||21,316|(42,141)|(20,825)|46,105|
|Transfers between funds|13|(10,904)|10,904|-|-|
|||_______|_______|_______|_______|
|**NET MOVEMENT IN FUNDS**||10,412|(31,237)|(20,825)|46,105|
|**RECONCILIATION OF FUNDS:**||||||
|Total funds brought forward||40,467|179,633|220,100|173,995|
|||_______|________|________|________|
|
Total funds carried forward||50,879|148,396|199,275|220,100|
|||_______|________|________|________|
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 2022**
|||All|All|Total|Funds|
|---|---|---|---|---|---|
||Note|Unrestricted|Restricted|||
|||Funds|Funds|2022|2021|
|||£|£|£|£|
|**FIXED ASSETS:**||||||
|Tangible fixed assets|7|1,458|152,310|153,768|154,132|
|||_______|_______|_______|_______|
|||1,458|152,310|153,768|154,132|
|**CURRENT ASSETS:**||||||
|Debtors|8|7,486|607|8,093|13,258|
|Cash at bank and in hand||46,745|30,829|77,574|96,445|
|||_______|_______|_______|_______|
|||54,231|31,436|85,667|109,703|
|**LIABILITIES:**||||||
|Creditors: Amounts falling|9|4,810|5,096|9,906|8,068|
|due within one year||_______|________|_______|________|
|**NET CURRENT ASSETS**||49,421|26,340|75,761|101,635|
|||_______|________|________|________|
|**TOTAL ASSETS LESS**||||||
|**CURRENT LIABILITIES**||50,879|178,650|229,529|255,767|
|Creditors: Amounts falling|10|-|30,254|30,254|35,667|
|due after one year||_______|________|________|________|
|**TOTAL NET ASSETS**||50,879|148,396|199,275|220,100|
|||_______|________|________|________|
|**PARISH FUNDS:**||||||
|Unrestricted|11|50,879|-|50,879|40,467|
|Restricted|12|-|148,396|148,396|179,633|
|||_______|________|________|________|
|||50,879|148,396|199,275|220,100|
|||_______|________|________|________|
Approved by the PCC on 23 April 2023 and signed on their behalf by:
S A Price – PCC Chairman
N Good – PCC Treasurer
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 4 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 prior to this it was prepared on a receipts and payment basis. 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 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
**PAGE 5**
## **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 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
**PAGE 6**
Pension Builder Classic provides a pension, 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. Discretionary increases may also be added, depending on investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.
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 means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2022: £2,634, 2021: £1,512).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.
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 to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. 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.
**PAGE 7**
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
||£|£|£|£|£|£|
|**2. INCOME FROM:**|||||||
|2(a) Voluntary income:|||||||
|Gift aid donations|124,763|10,046|134,809|140,230|11,421|151,651|
|Families Minister|-|19,300|19,300|-|16,630|16,630|
|Non tax donations|719|70|789|1,748|1,200|2,948|
|Donations|28,019|-|28,019|11,548|-|11,548|
|Income tax recovered|28,324|9,994|38,318|37,373|9,056|46,429|
|Plate|2,864|-|2,864|1,848|-|1,848|
|Passion 4 life|1,430|-|1,430|-|-|-|
|Collection for ministry and charities|-|13,740|13,740|9|4,585|4,594|
|Music|-|-|-|1,000|-|1,000|
|Bequest|-|-|-|2,000|-|2,000|
||_______|_______|_______|_______|_______|_______|
||186,119|53,150|239,269|195,756|42,892|238,648|
||_______|_______|_______|_______|_______|_______|
|2(b) Fees and other income:|||||||
|Fundraising|1,569|740|2,309|704|671|1,375|
|Magazine|-|-|-|116|-|116|
|PCC fees|2,327|-|2,327|4,178|-|4,178|
|Gifts|750|-|750|1,395|-|1,395|
|Messy Church|105|-|105|30|-|30|
|Rental income – 588 Loose Road|-|10,200|10,200|-|10,200|10,200|
|Fellowship|12|-|12|-|-|-|
|Plant donations|-|3,600|3,600|-|-|-|
||_______|_______|_______|_______|_______|_______|
||4,763|14,540|19,303|6,423|10,871|17,294|
||_______|_______|_______|_______|_______|_______|
**PAGE 8**
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
||£|£|£|£|£|£|
|2(c) Investment Income:|||||||
|Interest|896|2|898|31|2|33|
||_______|_______|_______|_______|_______|_______|
||896|2|898|31|2|33|
||_______|_______|_______|_______|_______|_______|
||£|£|£|£|£|£|
|**3. EXPENDITURE ON:**|||||||
|3(a) Ministry expenses:|||||||
|Parish share|88,759|-|88,759|82,539|-|82,539|
|Priest expenses|1,446|-|1,446|1,119|-|1,119|
|Vicarage expenses|1,280|-|1,280|403|-|403|
|Associate minister|-|29,752|29,752|5,326|-|5,326|
|Associate minister expenses|-|1,263|1,263|4,300|-|4,300|
|129 Tonbridge Road - rent|-|27,000|27,000|11,716|-|11,716|
|129 Tonbridge Road - heating, lighting and|-|778|778|183|-|183|
|water|||||||
|129 Tonbridge Road – council tax|-|3,243|3,243|682|-|682|
|Ministry training expenses|917|-|917|608|-|608|
|Families minister|-|-|-|-|646|646|
|Christianity Explored|222|-|222|-|-|-|
|Passion 4 Life|2,416|-|2,416|-|-|-|
||_______|_______|_______|_______|_______|_______|
||95,040|62,036|157,076|106,876|646|107,522|
||_______|_______|_______|_______|_______|_______|
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS**
**PAGE 9**
## **FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
|3(b) Church expenses:|||||||
|Heating, lighting and water|10,577|-|10,577|6,617|-|6,617|
|Insurance|3,214|-|3,214|3,101|-|3,101|
|Upkeep of services|2,311|-|2,311|3,533|-|3,533|
|Printing and magazines|7,174|-|7,174|6,441|-|6,441|
|I. T. costs|113|-|113|579|-|579|
|Fellowship|2,205|-|2,205|2,359|-|2,359|
|Donations|10,862|1,000|11,862|9,235|-|9,235|
|Gifts|2,581|-|2,581|-|-|-|
|Messy Church|635|-|635|230|-|230|
|Building work and repairs|3,550|-|3,550|2,317|270|2,587|
|Kitchen and cleaning|1,074|-|1,074|585|-|585|
|Livestreaming|317|-|317|1,105|-|1,105|
|Toddler Praise|12|-|12|-|-|-|
|Teaching materials|-|1,159|1,159|-|924|924|
|Youth workers|-|20,144|20,144|-|20,737|20,737|
|Youth workers pension|-|878|878|-|955|955|
|Activities|-|484|484|-|1,095|1,095|
|2 Pearce Gardens – heating, lighting and water|-|-|-|-|237|237|
|Boiler repair|180|-|180|-|-|-|
||_______|_______|_______|_______|_______|_______|
||44,805|23,665|68,470|36,102|24,218|60,320|
||_______|_______|_______|_______|_______|_______|
|3(c) Fundraising and publicity:|||||||
|Fundraising expenses||||-|-|-|
|Marketing wages|81|-|81|636|-|636|
|Bookstall|315|-|315|300|-|300|
||_______|_______|_______|_______|_______|_______|
||396|-|396|936|-|936|
||_______|_______|_______|_______|_______|_______|
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
**PAGE 10**
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||Funds|Funds|Funds|Funds|Funds|Funds|
||2022|2022|2022|2021|2021|2021|
|3(d) Church management:|||||||
|Independent examiner fees|984|-|984|2,268|-|2,268|
|Parish office|1,300|-|1,300|912|-|912|
|Stationery|151|-|151|-|-|-|
|Secretary|11,965|-|11,965|10,831|-|10,831|
|Director of music and technology|12,640|-|12,640|10,350|-|10,350|
|PCC expenses|2,742|-|2,742|5,192|-|5,192|
|Bank charges|75|126|201|45|96|141|
|Depreciation|364|-|364|454|-|454|
|Interest|-|2,472|2,472|-|2,789|2,789|
|Insurance|-|666|666|-|580|580|
|House expenses|-|873|873|-|1,914|1,914|
|Chapel expenses|-|3,500|3,500|-|1,000|1,000|
|Parish weekend away|-|12,973|12,973||||
||_______|_______|_______|_______|_______|_______|
||30,221|20,610|50,831|30,052|6,379|36,431|
||_______|_______|_______|_______|_______|_______|
|3(e) Donations:|||||||
|Donations – other charities|-|3,522|3,522|-|4,661|4,661|
||_______|_______|_______|_______|_______|_______|
||-|3,522|3,522|-|4,661|4,661|
||_______|_______|_______|_______|_______|_______|
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 11 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **4. RELATED PARTIES**
Reverend S and Mrs H Price was paid £0 (2021 - £7,200) in rental income in respect of 2 Pearce Gardens, Maidstone, the property being used to accommodate All Saints Loose Curate. Mrs H Price received a honorarium as agreed by PCC in 2022 of £1,500 and is the wife of Reverend S Price. 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 £12,025 (2021 - £10,021). He also received a donation from the Barnabus fund of £500. Tim Morgan is a trustee of the All Saints Loose PCC.
Annamaria Potgieter is employed by the Church and received a total salary in the year of £4,171 (2021 - nil). Annamaria Potgieter and her husband Linde Potgieter are both trustees of All Saints Loose 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 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|2022
£
72,745
2,634
75,379|2021
£
49,145
1,512
50,657|
|---|---|---|
No employee received benefits in excess of £60,000 (2021 – none)
The average number of employees during the year was 4 (2021 – 3)
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 12**
## **NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **6. INDEPENDENT EXAMINATION AND ACCOUNTANCY FEES**
The fee charged by the independent examiner for the examination is £984, VAT inclusive.
## **7. TANGIBLE FIXED ASSETS**
||Freehold|Church|Total|
|---|---|---|---|
||Land and|Equipment||
||Buildings|||
||**£**|**£**|**£**|
|**ACTUAL/DEEMED COST**||||
|At 1 January 2022 and at 31|152,310|2,276|154,586|
|December 2022||||
||________|________|________|
|**DEPRECIATION**||||
|At 1 January 2022|-|454|454|
|Charge for the year|-|364|364|
||________|________|________|
|At 31 December 2022|-|818|818|
||________|________|________|
|**NET BOOK VALUE**||||
|At 31 December 2022|152,310|1,458|153,768|
||________|________|________|
|At 31 December 2021|152,310|1,822|154,132|
||________|________|________|
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 13 NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **8. DEBTORS**
|**8. DEBTORS**|||
|---|---|---|
||2022|2021|
||£|£|
|Tax recoverable|4,978|8,919|
|PWA High Leigh|-|1,224|
|129 Tonbridge Road deposit|3,115|3,115|
||______|______|
||8,093|13,258|
||______|______|
|**9. CREDITORS: AMOUNTS FALLING DUE WITHIN**|||
|**ONE YEAR**|||
||2022|2021|
||£|£|
|Mortgage – 558 Loose Road|5,096|4,778|
|Spire loan|-|1,022|
|Independent examiners fees|984|2,268|
|British Gas|209|-|
|Accrued income – heating grant|2,200|-|
|Heating repair bills|1,417|-|
||______|______|
||9,906|8,068|
||______|______|
An amount of £19,341 (2021: £19,341) 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**
||||2022|2021|
|---|---|---|---|---|
||||£|£|
|Mortgage –|558|Loose Road|30,254|35,667|
||||_____|_____|
||||30,254|35,667|
||||______|______|
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 2022 (CONT’D)**
## **11. UNRESTRICTED FUNDS**
||General|Designated|Designated|TOTAL|
|---|---|---|---|---|
||Unrestricted|Bequest|Trainee/||
||||Apprentice||
||Funds|Fund|Fund||
||£|£|£|£|
|Balance b/fwd 1 January 2021|7,598|-|2,783|10,381|
|Income|200,210|2,000|-|202,210|
|Expenditure|(173,966)|-|-|(173,966)|
|Transfers between funds|1,862|-|(20)|1,842|
||_______|_______|_______|_______|
|Balance c/fwd 31 December 2021|35,704|2,000|2,763|40,467|
||_______|_______|_______|_______|
|Balance b/fwd 1 January 2022|35,704|2,000|2,763|40,467|
|Income|191,778|-|-|191,778|
|Expenditure|(170,462)|-|-|(170,462)|
|Transfers between funds|(10,904)|-|-|(10,904)|
||_______|_______|_______|_______|
|Balance c/fwd 31 December 2022|46,116|2,000|2,763|50,879|
||_______|_______|_______|_______|
## Designated Funds
Bequest Fund
During 2021 the PCC received two bequests from church members. There were no restrictions on the gifts but the PCC has decided to set aside these funds until an appropriate project can be found.
Trainee/Apprentice Fund
Funds received by the PCC from church members set aside to be used to support apprentices training when attending Cornhill Training College in London.
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 15 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **12. RESTRICTED FUNDS**
|Balance b/fwd 1 January 2021
Income
Expenditure
Transfer between funds
Balance c/fwd 31 December 2021
Balance b/fwd 1 January 2022
Income
Expenditure
Transfer between funds
Balance c/fwd 31 December 2022|Youth
Barnabas
Millenium
Zambian
Fund
Fund
Fund
Support
Fund
£
£
£
£
161,910
1,590
106
4
48,113
1
-
249
(30,973)
-
-
(253)
(2,132)
-
-
-
176,918
1,591
106
-
176,918
1,591
106
-
53,237
-
-
2,085
(92,338)
(1,000)
-
(1,511)
8,656
-
-
-
146,473
591
106
574|Zambian
Church
Fund
£
4
249
(253)
-
-
-
263
(210)
-
53|
|---|---|---|
## **ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 16 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (CONT’D)**
## **12. RESTRICTED FUNDS (CONT’D)**
||Zambian|Boiler Repair|High Leigh|Zambian|Australian|Total|
|---|---|---|---|---|---|---|
||Orphans Fund|Fund|Fund|Education|Morrison’s||
|||||Fund|Fund||
||£|£|£|£|£|£|
|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 funds|-|270|-|-|20|(1,842)|
||______|______|______|______|______|______|
|Balance c/fwd|||||||
|31 December 2021|-|-|825|-|193|179,633|
||______|______|______|______|______|_____|
|Balance b/fwd|||||||
|1 January 2022|-|-|825|-|193|179,633|
|Income|1,650|-|9,900|750|(193)|67,692|
|Expenditure|(1,238)|-|(12,973)|(563)|-|(109,833)|
|Transfers between funds|-|-|2,248|-|-|10,904|
||______|______|______|_____|______|______|
|Balance c/fwd|||||||
|31 December 2022|412|-|-|187|-|148,396|
||______|______|______|_____|______|______|
**ALL SAINTS, LOOSE PAROCHIAL CHURCH COUNCIL PAGE 17 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (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 within the 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. This finished this year.
## **13. TRANSFERS**
£
Youth Fund. Transfer from the Unrestricted General Fund to the 8,656 Restricted Youth Fund as a contribution towards costs.
General Fund. Transfer from the Unrestricted General Fund to the 2,248 Restricted High Leigh Fund for the extra costs relating to the parish weekend away.