Parochial Church Council of St. John's, Churt Treasurer's Report
For the Year Ending 31st December 2022
1. General Fund
The year ended with the fund showing a surplus for the year's activities of £1.1k , and a closing balance of
£68.0k . Given the circumstances as we eased out of the Coronavirus pandemic, this is another fabulous result financially.
Overall, total income excluding legacies [but including gift aid] was up on 2021 by £9.9k due to :-
-
regular giving down by £0.2k - we lost one donor in the last quarter, but annualised income is higher as at Dec 22 than at Dec 21 due to several existing donors increasing their regular payments
-
casual/other giving/collections/donations up by £5.0k [two generous donations received]
-
extraordinary income of £2.0k - two payments from the GDBF for redistribution of funds from 2021 surplus; and energy grant rebate
-
Fees to the PCC for wedding and funeral services etc were up on 2021 by £2.9k [effect of church re-opening post pandemic]
There was £2.0k received from legacies in 2022, so that resulted in £2.0k higher income than 2021.
Total expenditure was up on 2021 by £19.3k due to :-
-
Parish Share up by £3.9k [due to full year Minister's fees versus part year 2021]
-
vicarage rent up by £12.5k [a provision has been made for charges from the Diocese for property rental]
-
Upkeep of Services up by £2.3k [more money spent on organist fees]
-
Upkeep of Stables up by £2.3k [rising utility costs]
-
Support/Admin costs up by £1.5k [new PCC plus set up charges; one off binding charges for all old magazines]
During the year, payments totalling £5.5k to charitable organisations were paid out, slightly down on 2021.
There is a new lease agreement on the photocopier at £210 per quarter plus servicing/copy charges. The new lease cost and indeed service/copy charges represent a considerable annual saving [£1.1k for the lease alone], with title to the machine passing to the PCC at the end of the 5 year lease term. There are no other long term financial commitments.
2. Restricted Funds
The total year end balance on Restricted funds stood at £61.2k, a net reduction of £4.6k in the year.
A payment of £470 was received from Ecclesiastical insurers towards repairs to a fallen tree stump.
A total of £4.9k was raised by the Friends of St. Johns, as post pandemic activities resumed [Fete; Summer BBQ; Variety show].
A total of £2.0k was spent by the Friends of St. Johns, for the above activities, resulting in a net income of £2.9k - a fantastic result.
A total of £7.1k was spent from the Fabric fund, analysed as :-
-
£0.4k portion of the electricity bills
-
£2.6k on a new shed for the mowers etc
-
£1.3k on damaged tree reduction/removal
-
£0.7k on repairing damaged memorial stones
-
£1.0k on replacement fire safety cylinders
-
£0.7k on repairs to the East wall
A total of £0.8k was spent from the Growth fund, to cover coffee machines for the coffee mornings, and new stacking chairs.
3. Designated Funds
The total year end balance on Designated funds stood at £26.2k, a net decrease of £0.7k in the year.
The Projects Fund year end balance stood at £23.6k, a decrease of £0.3k over the opening balance - receipts totalling £1.7k mainly for our 'music' fund, were offset by expenses of £2.1k on replacement lapel microphones.
The balance on the Children & Youth Fund was down by £0.2k at £2.4k.
The balance on the Toddler Group Fund was down by £0.1k at £0.1k [new advertising signs].
4. Reserves Policy
It is PCC policy to maintain a minimum balance of 25% of average annual regular expenditure in the General Fund, as well as a substantial balance in a restricted Fabric Fund.
Pleasingly, the balance on both these funds at the end of 2022 was healthy, thus meeting these criteria.
Summary
As our lives got somewhere close to 'normality', it was fantastic to see the church doors open all year again, services in full swing, efforts to re-engage with the village school and local community to encourage more families and children into the church, and several events organised by the Friends. Overall, the church finances has recorded a deficit of £4.3k - however this includes an increase of £16.5k over 2021 for vicarage rent and Parish share costs, which is outside the control of the PCC.
We sadly lost one donor towards the end of 2022, yet annualised regular income has increased by £1.6k [Dec21 v Dec22] due to continued financial support from the community in terms of their continued donations - huge thanks and gratitude, and also to the Stewarship team for your hard work. We spent more money on utility costs for both the church and the Stables, and more money on keeping the services going in terms of organist fees. We were blessed with income from a couple of legacies during the year, and several donations into the Projects fund. The Friends activities were once again up and running, raising a net income of £2.9k towards the Fabric fund - a fantastic effort.
Currently, there is an annual deficit of c. £13k between regular income and regular expenses, I therefore urge the PCC Committee to continue its positive work done so far, in finding as many ways as possible to increase further the level of regular giving, and other forms of donations.
I would like to express my thanks to all those who collate and bank the weekly collections, who collect and bank the cash from magazine sales throughout the parish and who sell advertising space in the magazine.
I would like to express my gratitude to Terry Cole and John Brain, who have been administering the gift aid and sundry bankings between them.
Tim Kirk
Honorary Treasurer
Parochial Church Council of St. John's, Churt
Statement of Financial Activities
For the Year Ending 31st December 2022
| Note Incoming Resources Voluntary Income 2(a) Activities for generating funds 2(b) Income from investments 2(c) Church activities 2(d) Other incoming resources 2(e) Total Incoming Resources Resources Expended Fund Raising Trading Costs 3(a) Costs of Generating Voluntary Income 3(b) Church Activities 3(c) Governance Costs 3(d) Total Resources Expended Net Movement in Funds Balances b/f 1st Jan Balances c/f 31st Dec 2020 |
Unrestricted Funds |
Restricted Funds | Designated Fund |
TOTAL 2022 | TOTAL 2021 |
YoY Move |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |
| 79,582 0 100 11,867 2,020 |
470 4,863 0 0 0 |
1,725 0 0 0 0 |
81,777 4,863 100 11,867 2,020 |
85,359 0 4 8,832 15 |
(3,582) 4,863 96 3,035 2,005 |
|
| 93,570 | 5,333 | 1,725 | 100,628 | 94,210 | 6,418 | |
| 0 0 92,360 90 |
2,025 0 7,993 0 |
0 0 2,436 0 |
2,025 0 102,789 90 |
0 0 77,309 90 |
(2,025) 0 (25,480) 0 |
|
| 92,450 | 10,018 | 2,436 | 104,904 | 77,399 | (27,505) | |
| 1,120 66,975 |
(4,685) 65,889 |
(711) 26,911 |
(4,276) 159,776 |
16,811 142,964 |
(21,087) 16,811 |
|
| 68,095 | 61,204 | 26,200 | 155,500 | 159,776 | (4,276) |
Parochial Church Council of St. John's, Churt
Balance Sheet as at 31st December 2022
| Note Current assets Debtors 4 CBF Bank Deposit Account Cash at Bank Total Current Assets Liabilities Creditors - amounts falling due in one year 5 Total Current Assets Total Net Assets Parish Funds Unrestricted 7 Restricted 7 Designated 7 Total Funds |
TOTAL 2021 | TOTAL 2020 |
|---|---|---|
| £ | £ | |
| 10,367 7,731 156,722 |
9,267 7,631 144,109 |
|
| 174,821 | 161,007 | |
| 19,321 | 1,231 | |
| 19,321 | 1,231 | |
| 155,500 | 159,776 | |
| 68,095 61,204 26,200 |
66,975 65,889 26,911 |
|
| 155,500 | 159,776 |
Tim Kirk [PCC Treasurer] Approved by the Parochial Church Council
Parochial Church Council of St. John's, Churt
Notes to the Financial Statements
For the Year Ending 31st December 2022
1. Accounting Policies
The financial statements have been prepared in accordance with the current Church Accounting Regulations and comply with the current Charities SORP and applicable accounting standards FRS 102.
The financial statements have been prepared under the historical cost convention. They include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.
Funds
'Restricted' funds represent bequests, donations and PCC appeal proceeds made for a specific purpose. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance of that fund. The funds are generally held in a bank deposit account and the interest is apportioned to individual funds on an average balance basis. 'Unrestricted' funds are general funds which can be used for PCC general running expenses.
'Designated' funds are part of the unrestricted funds that have been set aside for a particular project. These funds may be redesignated by the PCC, therefore designation does not prevent these funds from being spent on any other purpose.
'Conduit' funds represent fees for the services of the clergy, organists, vergers or choir at weddings and funerals, where the money is paid over directly to those involved. These funds also include collections taken at funerals where these funds are designated for charities or organisations outside of the church, and funds which have been collected or received on behalf of other charities. These funds are not included in the Statement of Financial Activities.
Incoming Resources
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Legacies are accounted for when the PCC is legally entitled to the amounts due. All other income is recognised when it is received. All incoming resources are accounted for gross.
Resources Expended
Donations are accounted for when paid over. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross.
Fixed Assets
Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) of the Charities Act 2011.
Cost information is not available for moveable church furnishings acquired prior to 2000, therefore such assets are not valued in the financial statements. Subsequently no individual item has cost more than £1,000 so all such expenditure has been written off when acquired.
All individual items of equipment used within the church premises with a purchase price of £500 or less have been written off when acquired.
2. Incoming Resources
| a) | Voluntary Income Planned Giving: Gift Aid donations Tax recoverable Non Gift Aid donations Casual Giving [Gift Aid]: Tax recoverable Other Giving/Collections: Tax recoverable Sundry Donations: Tax recoverable Donations/Appeals etc: Tax recoverable Legacies Total |
Unrestricted Funds |
Restricted Funds |
Designated Funds |
TOTAL 2022 |
TOTAL 2021 | YoY Move |
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | ||
| 37,585 7,559 15,598 3,257 814 1,653 413 8,563 2,141 2,000 |
470 | 1,725 | 37,585 7,559 15,598 3,257 814 1,653 413 8,563 2,141 2,195 0 2,000 |
37,970 7,839 15,148 1,405 351 1,581 395 6,471 1,618 12,581 0 0 |
(386) (279) 450 1,852 463 72 18 2,092 523 (10,386) 0 2,000 |
||
| 79,582 | 470 | 1,725 | 81,777 | 85,359 | (3,582) |
b) Activities for Generating Funds Fund Raising: Friends of St. John Tax recoverable Other Tax recoverable Bookstall Total c) Receipts from Investments Current account interest CBF Deposit Account interest
Total
d) Income from Church Activities Church Property Lettings Parish magazine sales and advertising Fees paid to the PCC Bookstall
Total
- e) Other Incoming Resources Sale of Xmas cards Donation to Covid-19 mask appeal Insurance rebate re roof repairs Hire of Stables / Church Room Other / Charity Collections
Total
Total Incoming Resources
| 0 0 0 0 0 |
4,863 0 0 0 0 |
4,863 0 0 0 0 |
0 0 0 0 0 |
4,863 0 0 0 0 |
|
|---|---|---|---|---|---|
| 0 | 4,863 | 0 | 4,863 | 0 | 4,863 |
| 0 100 |
0 0 |
0 100 |
0 4 |
0 96 |
|
| 100 | 0 | 0 | 100 | 4 | 96 |
| 0 6,972 4,895 0 |
0 0 0 0 |
0 6,972 4,895 0 |
0 6,853 1,979 0 |
0 119 2,916 0 |
|
| 11,867 | 0 | 0 | 11,867 | 8,832 | 3,035 |
| 20 1,000 1,000 0 0 |
0 | 0 | 20 1,000 1,000 0 0 |
15 0 0 0 0 |
5 1,000 1,000 0 0 |
| 2,020 | 0 | 0 | 2,020 | 15 | 2,005 |
| 93,570 | 5,333 | 1,725 | 100,628 | 94,210 | 6,418 |
3. Resources Expended
a) Fund Raising Trading Costs Friends of St. John fund raising Organ refurbishment
Total
b) Costs of Generating Voluntary Income
Total c) Church Activities Missionary & Charitable giving: Church overseas Home mission & church organisations Local church schools Secular charities Missionary & Charitable giving
Parish Share Clergy Expenses Vicarage Rent Vicarage Expenses Assistant Staff Church Running Expenses Church and Church Room Maintenance Upkeep of services Upkeep of Churchyard Bookstall Parish magazine production costs Training, courses, children's groups Stables Upkeep Moveable furnishings and equipment Salaries / Honoraria New building / major work New installations Support costs Recoverable insurance expenditure Other resources expended
Total
d) Governance Costs AGM Expenses Total Total Resources Expended
| Unrestricted Funds |
Restricted Funds |
Designated Funds |
TOTAL 2022 |
TOTAL 2021 | YoY Move |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ |
| 2,025 0 |
2,025 0 |
0 0 |
(2,025) 0 |
||
| 0 | 2,025 | 0 | 2,025 | 0 | (2,025) |
| 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
|
| 0 | 0 | 0 | 0 | 0 | 0 |
| 2,308 2,606 0 596 |
2,308 2,606 0 596 |
2,519 2,606 194 596 |
211 0 194 0 |
||
| 5,511 | 0 | 0 | 5,511 | 5,916 | 405 |
| 47,073 397 12,581 689 0 6,376 0 3,177 240 270 3,541 26 2,869 0 5,377 0 0 4,208 0 25 |
7,057 88 0 848 |
380 2,056 |
47,073 397 12,581 689 0 6,376 7,057 3,265 240 270 3,541 406 2,869 0 5,377 0 2,056 4,208 0 873 |
43,124 856 0 864 0 6,127 4,217 858 224 0 3,608 271 617 0 4,992 0 0 2,677 0 2,957 |
(3,949) 460 (12,581) 175 0 (248) (2,840) (2,406) (16) (270) 66 (135) (2,253) 0 (385) 0 (2,056) (1,531) 0 2,085 |
| 92,360 | 7,993 | 2,436 | 102,789 | 77,309 | (25,480) |
| 90 | 0 | 90 | 90 | 0 | |
| 90 | 0 | 0 | 90 | 90 | 0 |
| 92,450 | 10,018 | 2,436 | 104,904 | 77,399 | (27,505) |
Payments to PCC Members
During the year, £397 expenses were made to the Resident Minister, and £4,703 were made to PCC members for various fundraising activities, church running expenses etc.
4. Debtors
a) Unrestricted Funds Tax recoverable Others
b) Restricted Funds Tax recoverable Others
b) Conduit Fund
Total Debtors
| TOTAL 2022 |
TOTAL 2021 |
|---|---|
| £ | £ |
| 9,277 1,090 |
8,960 306 |
| 10,367 | 9,267 |
| 0 0 |
0 0 |
| 0 | 0 |
| 0 | 0 |
| 0 | 0 |
| 10,367 | 9,267 |
5. Liabilities
Amounts falling due in one year Unrestricted Funds
Unpresented cheques and expenses Prepayment magazine advertising Accruals for utilities Magazine printing December edition Parish Share
Restricted Funds Withheld invoice payment
Conduit Fund
Total Liabilities
| TOTAL 2022 |
TOTAL 2021 |
|---|---|
| £ | £ |
| 610 12,581 200 0 4,834 |
100 200 0 0 |
| 18,225 | 300 |
| 0 | 0 |
| 0 | 0 |
| 1,096 | 931 |
| 1,096 | 931 |
| 19,321 | 1,231 |
6. Funds Movements
a) Restricted Funds
Balance b/f 1st Jan 2022 Incoming Resources Resources Expended Bank Interest
Balance c/f 31st Dec 2022
b) Designated Funds
Balance b/f 1st Jan 2022 Incoming Resources Resources Expended Bank Interest Balance c/f 31st Dec 2022
c) Unrestricted/General Funds
Balance b/f 1st Jan 2022 Incoming Resources Resources Expended Bank Interest Balance c/f 31st Dec 2022
| Fabric Fund | Growth Fund | Church Flowers |
AVA System |
TOTAL 2022 |
|---|---|---|---|---|
| £ | £ | £ | £ | £ |
| 51,318 5,333 (9,082) 0 |
13,854 0 (848) 0 |
716 0 (88) 0 |
0 0 0 0 |
65,889 5,333 (10,018) 0 |
| 47,569 | 13,007 | 628 | 0 | 61,204 |
| Youth Activities Projects Fund £ £ 2,969 23,942 0 1,725 (380) (2,056) 0 0 2,589 23,612 Unrestricted Funds £ 66,975 93,469 (92,450) 100 68,095 0 |
||||
| TOTAL 2022 |
||||
| £ | ||||
| 26,911 1,725 (2,436) 0 |
||||
| 26,200 | ||||
| Unrestricted Funds |
TOTAL 2022 |
|||
| £ | £ | |||
| 66,975 93,469 (92,450) 100 |
66,975 93,469 (92,450) 100 |
|||
| 68,095 | 0 | 68,095 |
7. Analysis of Net Assets - by Fund
Current Assets: Cash at Bank Debtors Liabilities: Amounts due in one year Balance c/f 31st Dec 2022
| Unrestricted Funds |
Restricted Funds |
Designated Funds |
Conduit Funds |
TOTAL 2021 |
|---|---|---|---|---|
| £ | £ | £ | £ | £ |
| 77,049 9,271 (18,225) |
61,204 0 0 |
26,200 0 |
1,096 (1,096) |
164,454 10,367 (19,321) |
| 68,095 | 61,204 | 26,200 | 0 | 155,500 |
Parochial Church Council of St. John's, Churt
Independent Examiner's Report
For the Year Ending 31st December 2021
I report on the accounts for the year ended 31st December 2021 which are set out on pages 1 to 5.
Respective Responsibilities of the Trustees and Independent Examiner
The Charities Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is sufficient.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commissioners in section 145(5)(b) of the 2011 Act;
-
state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission.
That 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 seeking explanations from the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts.
Independent Examiner's Statement
In connection with my examination, no matters have come to my attention:
-
1) which give me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; or
-
to prepare accounts which accord with the accounting records have not been met; or
-
2) which, in my opinion, prevent a proper understanding of the accounts to be reached.
Neil Read
84 Meon Crescent Chandlers Ford Eastleigh HANTS SO53 2PB 27th April 2022