2022 Financial Review
This review has been completed in accordance with the example Report and Accounts for the Parochial Church Council provided by the Diocese of Bath & Wells, and the example on the Charity Commission website.
The Church has had a difficult year in 2022 returning a deficit of £13,193, mainly due to significant costs in repairing the church organ. Receipts for unrestricted funds totalled £49,876, of which £47,861 was from unrestricted voluntary donations and fund-raising activities including tax recoverable on gift aid (£6,597). Restricted donations of £3,898 and a grant of £10,000 towards the Roof Appeal brings total income to £63,774 for 2022. The total income in 2021 was £52,838, the increase is mainly accounted for by the grant.
£76,968 was spent from funds to provide Christian Ministry from St Peter & St Paul’s Church including a £24,400 contribution to the diocesan parish share. This contribution returned to a higher level following a reduction in 2021 through the pandemic. Total expenditure in 2021 was £52,227, the increase in 2022 was mainly due to £21,165 being spent from restricted funds on costs including the organ repair.
Reserves
The net result for the year was an excess of expenditure over income of £5,926 for unrestricted funds leaving the General Fund with a balance of £11,586.
Designated funds for re-ordering at year-end are £45,001. £50,000 was moved in to the Roof Appeal which stands at £63,662. Other restricted funds total £9,187 after legacy funds were used towards to organ repair.
Overall reserves have decreased from £142,631 to £129,437.
The Balance Sheet and Analysis of Income and Expenditure for the year are included.
Phil Thomas
Treasurer
St. Peter and St. Paul Church, Wincanton - X 92418 0 581
Balance Sheet detailed
| 31/12/2022 31/12/2021 As at As at |
|
|---|---|
| Current assets 6501 Bank current account 6505 Bank deposit account 6510 CCLA (CBF) deposit account 6511 CBF Appeals account 6512 CBF Fabric account 6590 Cash in hand 6591 Coventry BS PC2014 Petty Cash Total Current assets Liabilities 6699 Agency collections Total Liabilities Net Asset surplus (deficit) Reserves Excess / (deficit) to date Z01 Starting balances Total Reserves |
£51,438.52 £65,623.40 £1,500.35 £1,500.35 £8,501.57 £8,391.20 £139.94 £138.12 £25.34 £25.02 — — £68,289.75 £67,882.46 — — £129,895.47 £143,560.55 £458.00 £929.75 £458.00 £929.75 £129,437.47 £142,630.80 (£13,193.33) — £142,630.80 £142,630.80 £129,437.47 £142,630.80 |
| £11,585.51 Unrestricted £17,511.68 £45,000.83 Designated £95,000.83 £72,851.13 Restricted £30,118.29 — Endowment — Represented by Funds £129,437.47 £142,630.80 Total |
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02 April 2023
Page 1
St. Peter and St. Paul Church, Wincanton - X 92418 0 581
Analysis of income and expenditure
Period: 01 January 2022 to 31 December 2022
| Total | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | This year | Last year | |
| Incoming resources | ||||||
| Incoming resources from generated funds | ||||||
| Voluntary income | ||||||
| 0101 - Gift Aid - Bank | £23,756.78 | — | £140.00 | — | £23,896.78 | £24,497.63 |
| 0110 - Gift Aid - Envelopes | £664.58 | — | — | — | £664.58 | £1,302.50 |
| 0201 - Other planned giving | £120.00 | — | — | — | £120.00 | £220.00 |
| 0301 - Loose plate collections | £1,982.11 | — | — | — | £1,982.11 | £634.15 |
| 0401 - Regular gift days | £25.00 | — | — | — | £25.00 | — |
| 0410 - Giving through church boxes | £160.00 | — | £270.00 | — | £430.00 | £40.00 |
| 0550 - Donations appeals etc | £1,276.48 | — | £3,428.07 | — | £4,704.55 | £4,436.23 |
| 0601 - Tax recoverable on Gift Aid | £6,596.77 | — | £60.00 | — | £6,656.77 | £6,664.91 |
| 08A1 - Non-recurring one-off grants | £2,371.17 | — | £10,000.00 | — | £12,371.17 | £3,864.01 |
| 0901 - Other funds generated | £10,908.30 | — | — | — | £10,908.30 | £6,337.23 |
| Voluntary income Sub-totals | £47,861.19 | — | £13,898.07 | — | £61,759.26 | £47,996.66 |
| Activities for generating funds | ||||||
| 0910 - Rummage sales etc | — | — | — | — | — | £894.00 |
| 1240 - Church hall lettings - fund | £170.00 | — | — | — | £170.00 | £420.00 |
| raising | ||||||
| Activities for generating funds | £170.00 | — | — | — | £170.00 | £1,314.00 |
| Sub-totals | ||||||
| Investment income | ||||||
| 1020 - Bank and building society | £640.11 | — | — | — | £640.11 | £1,960.32 |
| interest | ||||||
| Investment income Sub-totals | £640.11 | — | — | — | £640.11 | £1,960.32 |
| Incoming resources from | £48,671.30 | — | £13,898.07 | — | £62,569.37 | £51,270.98 |
| generated funds Totals | ||||||
| Incoming resources from charitable activities | ||||||
| Incoming resources from charitable | activities | |||||
| 1101 - Fees for weddings and funerals | £1,205.00 | — | — | — | £1,205.00 | £1,442.00 |
| 1230 - Church hall lettings - objectives | — | — | — | — | — | £125.00 |
| Incoming resources from | £1,205.00 | — | — | — | £1,205.00 | £1,567.00 |
| charitable activities Sub-totals | ||||||
| Incoming resources from | £1,205.00 | — | — | — | £1,205.00 | £1,567.00 |
| charitable activities Totals |
02 April 2023 Page 1
Total This year Last year
Unrestricted
Designated
Restricted
Endowment
— — Incoming resources £49,876.30 £13,898.07 £63,774.37 £52,837.98 Grand totals
Resources used
| Resources used | ||||||
|---|---|---|---|---|---|---|
| Cost of generating funds | ||||||
| Cost of generating voluntary income | ||||||
| 1710 - Costs of applying for grants | £1,675.57 | — | — | — | £1,675.57 | — |
| 1730 - Costs of fetes & other events | £166.75 | — | — | — | £166.75 | £57.29 |
| Cost of generating voluntary | £1,842.32 | — | — | — | £1,842.32 | £57.29 |
| income Sub-totals | ||||||
| Cost of generating funds | £1,842.32 | — | — | — | £1,842.32 | £57.29 |
| Totals | ||||||
| Charitable activities | ||||||
| Charitable activities | ||||||
| 1801 - Giving to missionary societies | £190.17 | — | — | — | £190.17 | — |
| 1850 - Home mission | £202.75 | — | — | — | £202.75 | £716.18 |
| 1870 - Secular charities | £80.00 | — | — | — | £80.00 | £50.00 |
| 1910 - Ministry parish share etc | £24,399.68 | — | — | — | £24,399.68 | £14,654.00 |
| 2050 - Salary of parish administrator | £7,225.12 | — | — | — | £7,225.12 | £6,879.81 |
| 2101 - Working expenses of | £2,300.43 | — | — | — | £2,300.43 | £1,745.49 |
| incumbent | ||||||
| 2301 - Church running - insurance | £3,333.50 | — | — | — | £3,333.50 | £3,174.38 |
| 2320 - Organ / piano tuning | £227.70 | — | £120.00 | — | £347.70 | £371.60 |
| 2330 - Church maintenance | £2,687.98 | — | £2,217.48 | — | £4,905.46 | £14,083.28 |
| 2340 - Upkeep of services | £4,728.14 | — | £36.98 | — | £4,765.12 | £2,455.49 |
| 2350 - Upkeep of churchyard | — | — | — | — | — | £16.00 |
| 2360 - Administration | £5,892.52 | — | £790.77 | — | £6,683.29 | £6,644.79 |
| 2370 - Visiting speakers / locums | £277.10 | — | — | — | £277.10 | £42.80 |
| 2401 - Church running - electric | £1,351.37 | — | — | — | £1,351.37 | £707.11 |
| 2410 - Church running - gas | £978.95 | — | — | — | £978.95 | £546.30 |
| 2420 - Church running - water | £84.74 | — | — | — | £84.74 | £82.42 |
| 2820 - Hall + major repairs - | — | — | £18,000.00 | — | £18,000.00 | — |
| installation | ||||||
| Charitable activities Sub-totals | £53,960.15 | — | £21,165.23 | — | £75,125.38 | £52,169.65 |
| Charitable activities Totals | £53,960.15 | — | £21,165.23 | — | £75,125.38 | £52,169.65 |
| Resources used | £55,802.47 | — | £21,165.23 | — | £76,967.70 | £52,226.94 |
| Grand totals |
02 April 2023 Page 2
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