Tadcaster Parochial Church Council Financial Report Final Accounts 2021
This report is based on the accounts for the period 1 January to 31 December 2021
FINANCIAL COMMENTARY
OVERVIEW
Receipts before legacies for the year were £79.3K and payments were £66.5K giving. a surplus before legacies of £12.8K.
A Legacy of £2k was received during the year.
RECEIPTS
Receipts from giving have held up very well despite the pandemic. Hidden treasures receipts for the year were £7.6K, somewhat lower than pre pandemic levels. Receipts from donations were £4.5K. This included two individual donations of £1K each. The introduction of the PAXEZ terminal in church has raised £600 since its introduction.
PAYMENTS
Building Maintenance payments for the year were £19.4K. This included the work on the East Windows. £10K needs to be held as a building reserve in respect of potential remedial work to the Church stonework. £10K was paid to diocese for the 2021 Freewill offer
PERFORMANCE FOR THE YEAR
Surplus for the year before legacies was £12.8K. This was after paying a lower freewill offer this year. If we had paid the £38.3K that Diocese wanted us to pay it would have resulted in a deficit of £15.5K
RESERVES
A building reserve of £10K has been provided in respect of potential remedial works to the church stonework. A liquidity reserve of £11K has been provided. This is in line with the reserves policy agreed by PCC. (Four months budgeted payments excluding Freewill Offer).
FUTURE FINANCIAL PERFORMANCE
The financial performance of the church faces many challenges in the future. Receipts have been significantly impacted by COVID restrictions. Fund raising events are still way below pre pandemic levels. Receipts from coffee mornings have reduced significantly since the end of Saturday coffee mornings.
Renovation work will be needed on the Church Windows in the future and funds will need to be raised to finance this.
Current Inflation rates are also likely to impact payments, although the impact of rising energy costs have been mitigated as three-year fixed rate Gas and electricity contacts had been agreed at favourable rates prior to the to the huge increase in prices.
Graham Rowett ACMA CGMA
POSITION AT BANK AS AT 31 DECEMBER 2021
| HSBC Community Account HSBC money manager Nat West Hidden Treasures Total funds at bank Unpaid cheques Total funds available Building Reserve Liquidity Reserve Total Restricted & Earmarked funds Other Funds & Reserves Non-Restricted / Non- Earmarked Funds Total funds available |
£18,348.71 £9,427.36 £8,664.48 £36,440.55 £188.72 £36,251.83 £10,000.00 £11,000.00 £21,000.00 £15,251.83 £15,251.83 £36,251.83 |
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ST MARY'S TADCASTER FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Envelopes; Stan Cash Collection Collections to R Wall Safe & Sun Tax recovered t Legacies N/A N/A Coffee & Lunch Dividends HSBC N/A N/A N/A Baptism & Confi retained; Funera Focus Income, Income from Ch Miscellaneous;; Wedding Organ Verger to pay ov Diocese Funeral Collectio pay over |
Year End Report Headings ding Orders s; Baptism Collections to Retain; Wedding etain; Funeral Collections to Retain dries; Donations hrough Gift Aid es; Fundraising; Harvest Festival Current A/c rmation Fees retained; Wedding Fees l Fees retained outh Projects arity Shop Hidden Treasures Joint Benefice Contributions , Bells Choir to pay over; Funeral Organ, Choir, er; Wedding Fees to Diocese; Funeral Fees to ns to pay over; Special Service Collections to |
Receipts & Payments Account Receipts Voluntary Receipts Planned Giving Other collections at services All other recurring giving / donations All other non-recurring giving / donations All tax recovered through Gift Aid Legacies Recurring grants Non-recurring grants Activities for Generating Funds Gross income from fundraising activities Receipts from investments Dividends HSBC Money Manager Account Interest Church Activities Statutory fees retained by the PCC Gross income from other church activities Gross income from Hidden Treasures Charity Shop Other incoming resources Receipts to pay over Fees to pay over Collections to pay over |
Unrestricted Funds Designated Funds Restricted Funds Total Total Funds Funds Funds 2021 2020 £28,912.00 £28,912.00 £27,414.40 £2,781.01 £2,781.01 £3,034.75 £4,706.06 £4,706.06 £2,135.96 £0.00 £0.00 £8,371.42 £8,371.42 £7,857.75 £2,000.00 £2,000.00 £0.00 £0.00 £0.00 £0.00 £0.00 |
|---|---|---|---|
| £46,770.49 £0.00 £0.00 £46,770.49 £40,442.86 |
|||
| £1,489.87 £1,489.87 £1,101.63 |
|||
| £1,489.87 £0.00 £0.00 £1,489.87 £1,101.63 |
|||
| £0.88 £0.88 £0.00 £0.96 £0.96 £14.67 £1.84 £0.00 £1.84 £14.67 £3,434.00 £3,434.00 £3,390.00 £696.54 £696.54 £88.16 £7,566.31 £7,566.31 £5,160.69 £7,609.01 £7,609.01 £7,872.59 |
|||
| £19,305.86 £0.00 £0.00 £19,305.86 £16,511.44 |
|||
| £5,773.00 £5,773.00 £6,343.00 £7,950.04 £7,950.04 £4,042.36 |
|||
| £13,723.04 £0.00 £13,723.04 £10,385.36 |
|||
| £81,291.10 £0.00 £81,291.10 £68,455.96 |
Unrestricted Funds Designated Funds Restricted Funds Total Total Funds Funds Funds 2021 2020
Year End Report Headings
Payments
Cost of Generating Funds Cost of activities, events, etc.
Coffee, Lunches & other catering expenses
| Coffee, Lunches & other catering expenses Charitable Giving; Hidden treasures Charitable Giving Freewill Giving Administrator Organist & Cleaner Fees & Wages Clergy & Reader Expenses Youth Work; Training & Education Insurance; Candles, Wafers & Wine; Building Maintenance; Organ & music expenses; Admin expenses; Flowers, Rent of Sunday School Gas; Electricity; Water Focus Expenses; Hidden Treasures Rent Governance Costs Deanery Quota, Other Miscellaneous Expenses East Windows N/A N/A Wedding Organ, Bells Choir to pay over; Funeral Organ, Choir, Verger to pay over; Wedding Fees to Diocese; Funeral Fees to Diocese Funeral Collections to pay over; Special Service Collections to pay over |
Cost of activities, events, etc. Mission Giving & Donations Charitable Giving Church Activities Freewill Giving Paid to Diocese Salaries / Honoraria Clergy & Reader Expenses Mission & Evangelism Costs Church Running Expenses Church Utility Bills Costs of Trading Audit Fee Other Outgoing Resources Major Capital Expenditure Major Repairs to the church building Major Repairs to other church property Receipts to pay over Fees to pay over Collections to pay over Excess of Receipts over Payments Statement of Assets & Liabilities Bank current & deposit accounts 1st Jan HSBC Current Account HSBC Money Manager Account Nat West Hidden Treasures Account Bank current & deposit accounts 31st Dec HSBC Current Account HSBC Money Manager Account Nat West Hidden Treasures Account Net increase in bank account funds |
£38.98 £38.98 £0.00 |
|---|---|---|
| £38.98 £0.00 £0.00 £38.98 £0.00 |
||
| £2,300.00 £2,300.00 £2,400.00 |
||
| £2,300.00 £0.00 £0.00 £2,300.00 £2,400.00 |
||
| £10,000.00 £10,000.00 £38,328.00 £8,447.68 £8,447.68 £8,433.30 £2,021.65 £2,021.65 £2,723.15 £25.00 £25.00 £82.00 £8,414.23 £8,414.23 £7,822.02 £2,560.56 £2,560.56 £2,749.16 £269.85 £269.85 £826.89 £0.00 £0.00 £0.00 £2,040.04 £2,040.04 £2,035.71 |
||
| £33,779.01 £0.00 £0.00 £33,779.01 £63,000.23 |
||
| £17,520.00 £17,520.00 £0.00 £0.00 £0.00 £0.00 £0.00 |
||
| £17,520.00 £0.00 £0.00 £17,520.00 £0.00 |
||
| £5,893.88 £5,893.88 £5,966.50 £6,998.60 £6,998.60 £3,468.73 |
||
| £12,892.48 £0.00 £0.00 £12,892.48 £9,435.23 |
||
| £66,530.47 £0.00 £0.00 £66,530.47 £74,835.46 |
||
| £14,760.63 £0.00 £0.00 £14,760.63 -£6,379.50 Unrestricted Funds Designated Funds Restricted Funds Total Total Funds Funds Funds 2021 2020 £10,398.72 £10,398.72 £9,642.54 £9,426.40 £9,426.40 £15,411.73 £1,666.08 £1,666.08 £2,816.43 |
||
| £21,491.20 £0.00 £0.00 £21,491.20 £27,870.70 |
||
| £18,159.99 £18,159.99 £10,398.72 £9,427.36 £9,427.36 £9,426.40 £8,664.48 £8,664.48 £1,666.08 |
||
| £36,251.83 £0.00 £0.00 £36,251.83 £21,491.20 |
||
| £14,760.63 £0.00 £0.00 £14,760.63 -£6,379.50 |
Approved by the PCC and signed on their behalf by Rev Paulie Watkin PCC Chair; Graham Rowett PCC Treasurer; Frank Horner Independent Examiner
Tadcaster Parochial Church Council Financial Report Final Accounts 2021
This report is based on the accounts for the period 1 January to 31 December 2021
FINANCIAL COMMENTARY
OVERVIEW
Receipts before legacies for the year were £79.3K and payments were £66.5K giving. a surplus before legacies of £12.8K.
A Legacy of £2k was received during the year.
RECEIPTS
Receipts from giving have held up very well despite the pandemic. Hidden treasures receipts for the year were £7.6K, somewhat lower than pre pandemic levels. Receipts from donations were £4.5K. This included two individual donations of £1K each. The introduction of the PAXEZ terminal in church has raised £600 since its introduction.
PAYMENTS
Building Maintenance payments for the year were £19.4K. This included the work on the East Windows. £10K needs to be held as a building reserve in respect of potential remedial work to the Church stonework. £10K was paid to diocese for the 2021 Freewill offer
PERFORMANCE FOR THE YEAR
Surplus for the year before legacies was £12.8K. This was after paying a lower freewill offer this year. If we had paid the £38.3K that Diocese wanted us to pay it would have resulted in a deficit of £15.5K
RESERVES
A building reserve of £10K has been provided in respect of potential remedial works to the church stonework. A liquidity reserve of £11K has been provided. This is in line with the reserves policy agreed by PCC. (Four months budgeted payments excluding Freewill Offer).
FUTURE FINANCIAL PERFORMANCE
The financial performance of the church faces many challenges in the future. Receipts have been significantly impacted by COVID restrictions. Fund raising events are still way below pre pandemic levels. Receipts from coffee mornings have reduced significantly since the end of Saturday coffee mornings.
Renovation work will be needed on the Church Windows in the future and funds will need to be raised to finance this.
Current Inflation rates are also likely to impact payments, although the impact of rising energy costs have been mitigated as three-year fixed rate Gas and electricity contacts had been agreed at favourable rates prior to the to the huge increase in prices.
Graham Rowett ACMA CGMA
POSITION AT BANK AS AT 31 DECEMBER 2021
| HSBC Community Account HSBC money manager Nat West Hidden Treasures Total funds at bank Unpaid cheques Total funds available Building Reserve Liquidity Reserve Total Restricted & Earmarked funds Other Funds & Reserves Non-Restricted / Non- Earmarked Funds Total funds available |
£18,348.71 £9,427.36 £8,664.48 £36,440.55 £188.72 £36,251.83 £10,000.00 £11,000.00 £21,000.00 £15,251.83 £15,251.83 £36,251.83 |
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