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2021-12-31-accounts

Trustees’ Annual Report and Financial Statements

of the Parochial Church Council for the year ending 31 December 2021

Contents Page
Legal and administrative information 3
Council Membership 4
Trustees’ Annual Report 5
Aims and Purposes 5
Objectives and Activities 5
Achievements and Performance 5
Review of Financial Activities and Affairs 5
Structure, Governance and Management 6
State Statement of Responsibilities of Members of the PCC 7
Independent Examiner’s report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11

Legal and Administrative Information

Registered Charity number

1149564

Registered name

The Parochial Church Council of the Ecclesiastical Parish of All Saints’, Ascot Heath

Principal address

London Road Ascot Berkshire SL5 8DQ

Independent Examiner

Kim Swain MA (Oxon) FCA Radford & Sergeant Limited Building 3, Watchmoor Park Camberley Surrey GU15 3YL

Bankers

TSB Bank plc 160 High St Slough SL1 1JP

Council Membership

Members of the PCC (Trustees) are either ex-officio, elected by the Annual Parochial Church Meeting or co-opted by the PCC in accordance with the Church Representation Rules. The following served as members of the PCC during 2021:

Rector: The Reverend Dr Darrell D Hannah (Chairman) Curate: Rev David Saunders (from 4 July 2021)

Churchwarden: Brian Bence

Elected members:

Nick Perkins – Lay Vice-Chairman (to April 2021) Sheila Sparks – Secretary Greta Grant (to April 2021) Steve Warrilow (to April 2021) Nnamdi Nwakanma (to April 2021) Linda Carrington (to April 2021) Graeme Carter Richard Hyslop (ex-officio, elected Diocesan Synod Representative) Simon Lagden Duncan Jones Nick Rowsell (from April 2021) Caroline Kallipetis (ex-officio, elected Deanery Synod Representative) Jayne Strand (ex-officio, elected Deanery Synod Representative)

Co-opted Members;

Caraline Hedges – Treasurer Martin Pennington – Financial Consultant (to September 2021) Nolan Nixon – Buildings Manager (to 2021)

Trustees Annual Report for the year 2021

Aims and Purposes

All Saints’ Ascot Heath PCC has the responsibility of co-operating with the incumbent, Fr Darrell, in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

The PCC is also specifically responsible for the maintenance of All Saints’ Church, All Saints’ Hall, the Chapel of SS Mary and John, King Edward’s Hall and the clergy accommodation at The Parsonage in King Edward’s Road.

The PCC is required by law to produce an annual report of its activities together with a financial statement identifying how the activities of the parish have been funded.

Objectives and Activities

The PCC is committed to enabling as many people as possible to worship at our church and chapel and to become part of our parish community at All Saints’. The PCC maintains an overview of worship throughout the parish and, in particular, with the Ministry Team we try to enable the congregation to live out their faith as part of our parish community through:

Achievements and Performance

Average Sunday Attendance and Electoral Roll

Attendance Statistics: 2021 2020 2019
Adults 91* ** 93
Under 16 11* ** 15

There were no baptisms during 2021, 17 funerals were held in the church, 3 services conducted at the crematorium and 1 wedding.

Electoral Roll – 196. July 20211 1 was removed and 3 added from the previous roll.

Risk Management

The PCC regularly reviews any major risks encountered by the church and takes appropriate action to manage and minimise those risks in accordance with best practice.

Review of Financial Activities and Affairs 2021

In 2021, All Saints’ Ascot income decreased, and expenditure increased compared with 2020. The result was a net operating loss of £7,838 but, when adjusted for the gain on our investments, this was reduced to a deficit of £3,473.

Income

Total income was £178,681, compared with £182,283 in 2020. This was almost exclusively because of reduced investment income.

Expenditure

Total expenditure in 2021 was £186,519, compared to £169,249 in 2020. Expenditure in 2021 included significant investments in the camera system and solar panels which are reflected in the increased assets of the church.

Reserves

Net reserves amount to £827,313 and is analysed across funds in Note 13 to the accounts. Of these reserves, £25,257 was held in the TSB Bank current account and £112,538 in the CCLA deposit account.

Reserves Policy

In 2020 the PCC agreed to maintain at least 9 months’ average expenditure in unrestricted reserves. This currently amounts to around £128,000 based on the budgeted running costs for 2022. So, the reserves are below the target.

Rector’s Discretionary Fund

The Rector’s Discretionary Fund is held as unrestricted funds identified to be used at the discretion of the Rector to help people in need of support. At the end of 2021 the allocated fund was £1,269.

Other creditors

The PCC holds money in its main account for The Friends of All Saints (£1,309 at 31 December 2021). This is recorded on the balance sheet within Creditors. The Friends exists to allow former members of All Saints and others to keep in touch and continue to support the aims and mission of the church.

Structure, Governance and Management

The PCC 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 method of appointment of PCC members is set out in the Church Representation Rules. At All Saints’ Ascot Heath the membership of the PCC consists of the Rector, the Curate, Churchwarden(s) and members elected by those members of the congregation who are on the Electoral Roll of the church. All those who attend our services/members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent.

The full PCC met six times during the year via Zoom.

Ststsment of Re8pon8lbSllt5e8 of Mombern of the PCC The Injslees Imembers of the PCCI are responsible for preparing the PCC'S Annual Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted kcounting Pracbcel. The law ap￿1¢able to charities in England & Wale$ requires th8 tDJStees lo prepare financtal statements for ea¢h financial year which give a true and fair view of the stale of affairs of the charity and of the incoming ￿SourceS and application of resources of the charity for that penod. In p￿Paring these financial statements, the tnbStee$ are required to.. sele¢t Sultable accounting polkles and then apply Ihem o)nsl5ten￿y'. observe the methods and principles in the Charitie8 SORP., make judgements and eslimales that are reasonable and prudent.. st8to whether applicable accounting stsndards have boen foll¢)wed, subject to any materigl departures disclosed and explained in the financial $tstements,' Prepa￿ the financial Statements on the going concern basis unfess it is inappropriat8 to presume that the charity will contsnue in operation. The trustees are responsible for keeping proper accounttng retsjrds that disclose wth reasonable accuracy at any lime the financial positson of the charity and enable them to ensLtre that the financial $tatem8nts comply wtth the Charitie5 Act 2011, the Charity IAc£ounts and Réports) Regulations 2008 and the provisions of Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the charity and hen¢e for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of Members of the PCC.. Revd Dr Darrell D Hannah Date: 24 May 2023

ALL SAINTS. ASCOT HEATH PAROCHIAL CHURCH COUNCIL Independent Examln•rf• Report lo the Tru$toes of All Salnts, Church, Ascol Heath report on the &counts of the Chu￿ for Ihe year ended 31 December 2021 which are set OLrt on pages 9 to 19. Ro6poCtfve Re8pon8lbllttle8 of Tn￿1•8* and Ex•mlner The church's trustees are responsible for the preparatson of the ￿Uftts. The church's trustee$ ¢onsider that an audit is not required for this year under sectKJn 144121 of the Charities Ad 2011 (the Chariliey Act) and that an independent examination is needed. It is my r8spon&bilty to= Examine the a¢￿Unts (under ￿tIOn 145 of the Charities Act)., To follow the procedures laid down in the General Directions gNen by the Charity Commissioners (under section 14515llbl of the Charities Act),. and To state whether part￿Ular matters have (x￿e to my attentKJn. Ba818 of Independent Examlngrfs r•port My examination was carried out in accordance Y￿th the geriefal Diwtions given by the Chanty Commission. An examination includes a review of the accounting record$ kept by the chanty and a ¢omparison of the accounts presented with those records. It also includes eonsideratson of any unusual items or disclosures in the accounts and seeking explanations from you 88 tru8lees concerning any such matters. The procedures undertaken do not proV￿e all the evidence that would required in an audit and consequently no opinion is given as to whether the accounts present a'true and fair vithrf and the report is limsted to those matters set out in the statement below. Ind•p•ndont ox•mlnerfs 8tsI•m￿t Since the gross income for the year exceeds the amount provided in section 14513} of the Charities Act. I confim that l am qualified to act as Independent Examiner under the provisions of that section of the Charitse$ Act and that my qualification is as shown below. In connection with my examinalion, no matter has come to my attention.. which gives me reasonable cause to believe that in any material ￿SpeCt the requirements to keep accounting records in accordance with section 130 of the Charities Act,. and to p￿pare aceounts whi¢h accord wth the a￿ounting records and compty wrth the accounting requirements of the Act have not been mel,. or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. IQM Swain MA (Oxonl FCA Radford & Sergeant Limrted Building 3 Walchmoor Park Camberfey Surrey GU15 3YL 24 May 2023

ALL SAINTS, ASCOT HEATH PAROCHIAL CHURCH COUNCIL STATEMETrif OF FINANCIAL ACTNITIES For the year ending 31 Decembef 2021 Unrestncted Restrcted Endowment TOTAL TOTAL funds nds funds 2021 2020 Note INCOME Voluntary income Income from investments Church actNittes 21al 2{bl 21c} 1C6,874 13,180 20,536 127,410 128,512 14.244 17,633 37 TOTAL INCOME EXPENDITURE Cost of generating funds Church activtties 28 28 17 3 11804 TOTAL EXPENDITURE NEf {LOSSIISURPLUS BEFORE INVESTMENT GAINS (16,5701 8,732 17,8381 13.034 TRANSFER BEfwEEN FUNDS 10,430 110,430} NEf (LOSSIIGAINS ON INVESTMENTS NET ILOSSYSURPLUS AND MOVEMENT IN FUNDS 17,0211 11,698) 5.246 {3,4731 16,250 TOTAL FUNDS BROUGHT FORWARD 747 36672 814536 TOTAL FUNDS CARRIED FORWARD TOTAL FUNDS CARRIED FORWARD

ALL SAINTS, ASCOT HEATH PAROCHIAL CHURCH COUNCIL BALANCE SHEET AT 31 DECEMBER 2021 2021 2020 Notes FIXED ASSETS Tangible Investments 639.207 612,769 893,741 662.593 CURRENT ASSETS Oeblors and prepayments Cash at bank and in hand 17,017 12,183 170 507 1 $4,812 182.690 LIABILITIES Creditors- amounts falling due within one year 10 21 NET CURRENT ASSErs TOTAL NET ASSETS PARISH FUNDS Unrestricted 740,371 45,024 747,632 46.482 Restricted 11 Endowment Approved by the PCC on 24 May 2023 and signed on its behalf by.. Revd Dr Datrell D Hannah PCC Chair 10

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021

1. ACCOUNTING POLICIES

1.1 Basis of preparation

All Saints’ Church, Ascot Heath Parochial Church Council (“The PCC”) is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair view” provisions and the Charities SORP (FRS102).

1.2 Income recognition

Open plate collections are recognised when received by or on behalf of the PCC. Planned giving under Gift Aid is recognised when received and the associated recoverable income tax is recognised when the income is recognised. All other donations and receipts for church activities are recognised when received.

Income from investments is recognised when receivable.

1.3 Expenditure recognition

Parish share is recorded when payable. All other expenditure, including mission giving, is recorded when paid.

1.4 ASSETS

1.4.1 Consecrated and benefice property

In so far as consecrated and benefice property of any kind is excluded from the statutory definition of ‘charity’ by Section 10(2)(a) and (c) of the Charities Act 2011, such assets are not capitalised in the financial statements.

1.4.2 Moveable church furnishings

Moveable church furnishings held by the Vicar and Church Wardens on special trust for the PCC, and which require a faculty for disposal, are accounted for as inalienable property unless consecrated. They are listed in the Church’s inventory that can be inspected (at any reasonable time). For inalienable property acquired prior to 2000, such assets are not included in the accounts. Items acquired since 1 January 2000 have been capitalised at cost and depreciated over their useful economic life.

All expenditure incurred on consecrated or beneficed buildings or on the repair of moveable church furnishings acquired before 1 January 2000 is written off as expenditure in the year.

1.4.3 Tangible fixed assets

These are capitalised if they can be used for more than one year and cost at least £500. They are stated at cost.

Depreciation is calculated to write off the capitalised cost of fixed assets less their currently anticipated residual fair value over their estimated useful lives as follows:

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

An impairment review is carried out at each year end and any resultant loss identified included in expenditure for the year.

1.4.4 Investments

Investments in securities held with CCLA and ODBF are valued at market value as advised by those institutions.

1.4.5 Stock

No account has been taken of any stocks of books, magazines or other materials held at the balance sheet date and all expenditure is written off as incurred.

1.4.6 Pensions

The PCC operates a defined contribution pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

1.5 FUNDS

1.5.1 Unrestricted Funds

These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project.

1.5.2 Restricted Funds

These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.

1.5.3 Endowment Funds

These represent capital funds in perpetuity which may not be spent. Income arising is spent for the purposes under which the endowments were made.

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

2. INCOME
Unrestricted
Restricted Endowment
funds
funds
funds
£
£
£
2(a) Voluntary income
Planned giving: Gift Aid donations
67,789
920
-
Tax recoverable
18,952
230
-
Other
17,761
18,373
-
Collections: (open plate)
2,191
-
-
Grants
181
1,013
-

106,874
20,536
-

2(b) Income from investments
Rent received
12,770
-
-
Dividends
346
-
1,064
Bank interest
64
-
-
13,180
-
1,064
2(c) Income from church activities
Fees for occasional services
5,992
-
-
Church and Parish Room lettings
30,458
-
-
Parish-wide events
457
-
-
Other
120
-
-
37,027
-
-		 TOTAL
2021
£
68,709
19,182
36,134
2,191
1,194
127,410
12,770
1,410
64
14,244
5,992
30,458
457
120
37,027		 TOTAL
2020
£
88,139
20,765
26,079
2,441
2,603		 TOTAL
2020
£
88,139
20,765
26,079
2,441
2,603
128,512

16,156
1,427
50
17,633

1,743
29,865
4,530
-
36,138

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

3. EXPENDITURE

Unrestricted
Restricted Endowment
funds
funds
funds
£
£
Notes
Church activities
Mission and charitable giving
9,298
-
-
Diocesan parish share
84,278
-
-
Staff employment costs
4
11,136
-
-
Church maintenance
-
224
1,064
Churchyard upkeep
-
-
-
Occasional service fees paid to Diocese
415
-
-
Choir/music
48
1,231
-
Church supplies
253
-
-
Utilities
4,627
-
-
Property rental
8,750
-
Church hall – ASH
6,947
-
-
Church hall – KEH
2,418
4,385
-
Parsonage
16,383
-
-
Insurance
4,137
-
-
Flowers
95
49
-
Clergy expenses
2,376
-
-
Legal fees
1,716
-
-
Memorials
540
-
-
Organist
4
8,016
-
-
Independent examiner’s fees
2,460
-
-
Accountancy fees
3,850
-
-
Defibrillator
1,040
1,000
-
Office and administration
4,840
-
-
Depreciation
-
4,915
-

173,623
11,804
1,064		 TOTAL
2021
£
9,298
84,278
11,136
1,288
-
415
1,279
253
4,627
8,750
6,947
6,803
16,383
4,137
144
2,376
1,716
540
8,016
2,460
3,850
2,040
4,840
4,915
186,491		 TOTAL
2020
£
22,584
84,208
10,497
935
665
685
1,717
1,014
4,132
-
7,045
7,894
3,151
4,737
-
4,479
-
-
7,045
2,760
4,540
-
997
-
169,085

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

4. STAFF

The Parish Administrator’s and Organist’s gross salary costs are shown in Note 3.

The Parish Administrator is enrolled in the People’s Pension Scheme.

No benefits in kind were paid.

Included in Grants receivable (Note 2(a)) were JRS grants of £181 (2000: £2,603).

5. MEMBERS OF THE PCC

No member of the PCC (or any persons connected with them) received any remuneration or benefits during the year in respect of their membership of the PCC. Certain expenses incurred on behalf of the PCC were reimbursed.

The Rector was reimbursed for expenses amounting to £2,376 (2020: £4,479).

6. TANGIBLE FIXED ASSETS

Fixtures,
Plant and
Land and
Fittings and
Equipment
Buildings
equipment
£
£
£
Cost or valuation
At 1 January 2021
-
612,769
-
Additions
11,862
-
19,490
Disposals
-
-
-
At 31 December 2021
11,862
612,769
19,490
Depreciation
At 1 January 2021
-
-
-
Charge for the year
2,966
-
1,949
Written back on disposals
-
- -
At 31 December 2021
2,926
-
1,949
Net book value
At 31 December 2021
8,896
612,769
17,541
At 31 December 2020
-
612,769
-		 Total
£
612,769
31,352
-
644,121
-
4,915
-
4,915
639,206
612,769

Land and buildings comprise King Edward’s Hall (freehold), The Chapel of Saint Mary and Saint John (freehold), All Saints’ Church Hall (leasehold) and The Parsonage (freehold).

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

7. Investments

CCLA – Fixed Interest Securities Fund

Number of shares
At 1 January
Dividends reinvested
At 31 December
Market value
Endowment funds (Note 12)
Total investments
8.
Debtors and prepayments
Income tax recoverable
Debtors
Prepayments and accrued income
9.
Cash at bank and in hand
TSB Bank plc – current account
CCLA Deposit Account		 2021
7,753.54
213.59
7,967.13
£
12,616
41,918
54,534
2021
£
14,600
1,512
905
17,017
2021
£
25,257
112,538
137,795		 2020
7,504.12
249.42
7,753.54
£
13,152
36,672
49,824
2020
£
10,569
638
976
12,183
2020
£
43,034
127,473
170,507

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

10. Creditors: amounts falling due within one year

Accruals
Friends of All Saints
Other creditors		 2021
£
18,229
1,309
1,702
21,239		 2020
£
12,889
1,164
444
14,497

11. Restricted funds

The income funds of the charity include restricted funds comprising the following donations and grants held on trust for specific purposes as listed below:

Balance at 1
January 2021
Youth
1,616
King Edward’s Hall
885
Eco/Future development
20,424
2014
717
Organ refurbishment
5,948
Church and Churchyard
1,665
Flowers
240
Church Music/Choir
1,231
Messy Church
496
Camera System
12,500
Defibrillator
1,000
46,722		 Transfer to
Balance at 31
Income
Expenditure Unrestricted December 2021
-
-
-
1,616
3,500
4,385
-
-
6,184
1,949
-
24,659
-
-
-
717
-
-
-
5,948
1,013
224
-
2,454
47
49
-
238
-
1,231
-
-
-
-
-
496
9,792
2,966
10,430
8,896
-
1,000
-
-
20,536
11,804
10,430
45,024

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

12. Endowment funds

Blake Trust
Lucas Legacy
Paterson, Barnett, Clarke (Ascot Heath Trusts)
General May Trust
Weigall Trust		 2021
£
1,241
2,623
14,542
3,232
20,280
41,918		 2020
£
1,086
2,295
12,723
2,827
17,742
36,672

The capital of these endowment funds is perpetual and cannot be spent. The capital is invested in CBF investment funds under the custody of the Oxford Diocesan Board of Finance.

Income arising from these funds is allocated as follows:

Blake Trust – for the upkeep of the church and churchyard so long as certain graves are maintained.

Lucas Legacy – for the maintenance and improvement of the church fabric.

Paterson, Barnett, Clarke (Ascot Heath Trusts) – 15/37ths for the maintenance of the churchyard, 10/37ths f or maintenance of Ascot Heath CE School, 10/37ths for school managers for school prizes, 2/37ths for annual school prize.

General May Trust – for the upkeep of the church and churchyard as long as the grave of the Rev. Marrow is maintained.

Weigall Trust - for the upkeep of the church and churchyard as long as the grave of the Weigall family is maintained.

13. Analysis of net assets between funds

Unrestricted
Restricted Endowment
funds
funds
funds
£
£
£
Fund balances at 31 December 2021are represented by:
Tangible fixed assets
612,769
26,437
-
Investments
12,616
-
41,918
Current assets
120,424
34,857
Creditors: amounts falling due within one year
(21,239)
-
-

724,570
60,826
41,918
 Total
£
639,207
54,534
155,812
(21,239)
827,314

ALL SAINTS’ ASCOT HEATH PAROCHIAL CHURCH COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021 (continued)

14. Financial commitments

The PCC passed a budget for 2022 with a £18,000 deficit. The budget was pessimistic about the opportunities for fund raising because of the continuing Covid19 pandemic. This budget included a commitment to give £7,900 to mission organisations.