St Philip's Church Sheffield Reglstered Charlty Number 1161810 Trustees, Annual Report and Financial Statements for the Year ended 31st December 2021
St Philip's Churth. Sheffield Trustees. Annual Report for the year ended 31 December 2021 Contents Page Trustees. Annual Report Objectives, public benefit and activities Achievements and perfomiance Financial review Structure, governance and management Reference and administration detalls Trustees, declaration Financlal Statements Statement of Financial Activities Statement of Financial Position18al3nce Sheet} Statement of Cash Flows Notes to the Flnandal Statements l. Basis of preparation 2. Accounting pollcies 3. Income breakdown 4. Expenditure breakdown 5. Trustee remuneratlon and fel3ted party transactions 6. Preparation and examinatlon of the financial statements 7. Employees 8. Pen51ons 9. Tafiglble assets 10. Debtor5 and prepayments 11. Cash at hand and in bank 12. Credltors and accruals 13. Funds 14. Grants over £l.(KJO from institutions IS. Grants to institutions 16. Operating lease 17. Capital commitments li li 14 15 15 16 17 17 17 17 18 19 19 19 19 Independent Examlnees Report 20
St Phlllp's Churth, Sheffield Trurttt< Annual Report for the year ended 31DernbeT 2021 The Trustees are pleased to present their Annual Report together *Yth the independently examined financial statements for the year ended 31 December 2021. Objectivesp public beneflt and artivities Alms and Objertlves The body of Trustee5 (usually known as the Church Council) has the responsibility of co-operating with the Church leaders and the staff team of St Philip's Church in promoting the whole mlsslon of the Church, pastoral, evon8elistic, social. and ecumenical. It also has maintenance responsibilities for the Church base and property. The vision of the Church is to be a community of prayer and mission. We aspire to be an authentic, brave creative and devoted community who, inspired by the words and ways of Jesus. see transfomiation in people and communlties. The Church's maln object is.. To advance the Christian faith in the Area of Benefit in accordance with the prlnclples and practlces of the Participating Churches. Our main object is to build communities of prayer and mission. We seek to train and equlp mlsslonary leaders. Those equlpped go on to lead In a varlety of church and communlty contexts seekln8 to brlng transformatlon. Statement of Publlc Benefft The Trustees confirm that they have referred to the 8uidance contained in the Charity Commission's general guidance on public benefit when reviewing the Church'5 alms and oblectives and in planning future artivitles. The Trustees are also aware of the Charity Commission's guidance on publ1¢ benefit In The Advancement of Religlon for the Public Benefit and have had fe8ard to it in their administration of the Church. The Church provldes the folwing artivities for the benefit of the 8eneral public.. The celebration of public worship; The teaching of the Chfflstlan faith,. mission and evangelism; pastoral work, includln8 vlsltin8 the sick and the bereaved: the provision of facilities with a Christlan ethos for the local community. includin8 (but not restricted tol the elderly, the young and other groups with special needs; and the support of other charlties In the UK and overseas. The Trustees confirm that they have complied with their duties under settion 17 of the Charlties Art wh regard to public benefit. Artlvltles Due to the pandemlc our gatherings had moved online, as well as our community meetin85 and smaller group meetings such as prayer meetlngs. dlscipleshlp groups and children's cells. As restrlrtions began to Ilft more of our meetings returned to in-person events. though the church stlll makes use of onllne meetlngs when thls Is helpful. In the month of ju St Philip's moved out of The Printhouse, 21-23 North Church Street, Sheffield Sl 2DH. The Printhouse had been St Philip's, administrative and prayer base as well as whole church gathering space for the last seven years. This decision was made both because the thurch community had outgrown the space and in order to divert some finance away from buildings towards employment of team.
St Philip's Church. Sheffield Trustees. Annual Report for the year ended 31 Dember 2021 In July the church moved Its office to The Stamp House.. 52 Bank Street. Sheffield Sl 2DS. In September the church began to meet for gathered times of worship. prayer and teaching at St Stephen's Church, Fawcett Street. S3 7PL. Community groups began to meet physically in various venues near where the member5 Ilve. includin8 Pttsmoor, Parson Cross, and SIOIII. A community called %Vild Church. (mainly consisting of those in S61 was also formed which seeks to explore faith Cmunity in the outdoors. Three part time Community Family Workers were appointed with a remit to develop new community initiatives in the Parson Cross and S6 area of Sheffield. These are the-year appointments. all of which began in the summer of 2021. Contrlbutlon of Volunteers All Church members are expected to be volunteers to a greater or lesser extent. All Church artivlties relv heavlly on volunteer contribution in time. effort and prayer. Achlevements and performance 2021 contlnued to be a year of transition forthe church both in ternis of movin8 Out of the Prlnthouse and Into The Stamp House and Si Stephen's but also in terms ot learnln8 how to gather a8aln with the limitatlons and dlsruptlons of the Covld.19 pandemic. The church responded well to the challenges of flexing and adaptin8 due to the unpredlctable nature of life in a pandemlc. A work of rebulldln8 the gathered life of prayer and worship began and will continue in 2022. The move out of the Printhouse wa5 managed well by the staff team and with the help of volunteer5. Unneeded resources were sold or aiven away so that the church could be more 'll8ht weight,. Money from sales of equipment was used to reinvest in more up to date and sultable equipment for our new location. There wa5 some change in the member5hlp of the church: the pandemlc caused a few to review thelr membership to Sr Philip's and some chose to move to other churches. Encoura8in8ly a number of new members lolned the church also. Flnanclal Revlew 8ud8et and Reserves The Church's core actNities run on the income of the General unrestricted fund. Each year the Church leaders prepare a budget which is closely monitored during the year. As part of the process church members are asked to pray and as an expresslon of their faith in God to make a commltment of how much they will 81ve to the General Fund durin8 the year. This process is expected to be continued for future years. The Church has about 34 committed regular givers. At the year*nd it had built up operating capital of £54,769 in its General Fund. equivalent to 8.2 months runnin8 costs. The trustees are happy with 2 months runnln8 Costs as the level to be maintained as a buffer agalnst unforeseen clrcumstances. Rlsk Management The Trustees have given due con5ider3tion to the health, safety data protection and financial risks it face5 in mana8lng the operations of the Church. They believe they have in place adequate systems to monitor and control health and safety issues as they arise. They believe they have devised 3n 3ppropriate system for the authorisation. recordin8 and control of accounting 3nd financial inforniation sufficient to show and explain the financial transartions of the Church. Overall financial supervision by the Trustees is maintained by the use of budgetary control, monthly financial statements and special reports.
St Philip's Churth. Sheffield Trustees, Annual Report for the year ended 31 December 2021 Revlew of the Flnanclal Statements Total income (including restricted income) was £97,628. The main sources of income were church members giving. including gift aid194%1, sales of office equipment14%) and lettings12%). Total expenditure lincluding restrirted expenditure) was £89.065. The major areas of expenditure were staff 148%), rent, maintenance and adrninistration128%1. charitable 8ifts115%1 and ministry19%1. Strurturep governance and management Govemln8 Document The Church Council Ithe body of Trustees) is a corporate body established by the Church of England and the Baptlst Union of Great Britsin under the Local Ecumenical Partnership LEP Constltution of St Philip's Church and operatlng under the Parochial Churth Councll Powers Measure. It became a registered charity on 26 May 2015. The Churchls governed by a constitution adopted 25 January 201S. Recrvltment and Appolntment ol Trustees The Church Council Is made up of: Ex officio Trustees - the Ministers of the LEP and the Office Manager,. Elected Trustees - elerted at the Annual Con8re8ational Meetln8; and, Ctropted Trurtees (known to the Church as Church Wardens) who are recommended by the leadershlp team to the Trustees for a formal vote of agreement to be taken. If agreed by the trustees. thls recommendatlon Is further taken to the Annual ConÉregatlonal Meetlng for a vote of ratification by the membership of the church. Church Wardens should be representative of both denominational streams where possible. Elected and co-opted trustees are appointed for a tem of three years and may be r&elected at the end of their term. They must be at least 18 years old and be Church members. Further details concerning trustees are to be found in the constitution. Indurtlon and Tralnlng of Tntstees New trustees undergo orienration to brief them on thelr roles and wponslbilltles, their le8al obli8atlons under charity law, the content of the constitution. the declsion-rnakin8 process and the recent flnancial performance of the Church. Membefshlp of the Church People are entitled to become members of the Church if.. They have been a regular participant in the life of the church for a year or more; They are member of a missional community. small group or huddle within the church; They are over the age of 16. They are sympathetlc to mainstream Christian doctrine as defined by Churches Together In En8land,' and, They actlvely choose to become a member. The Trustees are required to keep a membership foll which must be made avallable to any member on request. Further details toncerning membership can be found in the constitution.
St Phlllp's Churth, Sheffleld Trustees, Annual Report for the year ended 31 December 2021 Membet5hlp Numbers At the end of 2021 the enrolled membership was as follows.. 8aptists Anglicans Enrolled but not afflllated to elther denomlnatlon 35 Identified as regular participants not yet enrolled 12 Or8anlsatlonal Strurture The Church Countil delegates the day.to-day management of the Church to the staff team headed by the Church Leaders, Davld and Sarah Ducker. The staff team comprises both paid employees and volunteer5. They undergo training appropriate to their areas of responsibility. Mlssional Community leaders and Discipleship GfOUP leaders have pastoral overslght of the members of their communities. and they are accountable to the Church Leaders. Reference and admlnlstratlon detalls Charity name st Philip's Church Reglstered charlty number 1161810 Address The Stamp House. 52 Bank Street, Sheffield, Sl 2DS Webstte www.stphllip55heffield.org Trustees- ex-officlo Mr David Ducker (Jolnt Church Leader) Mrs Sarah Ducker (Joint Church Leaderl opted trustees Ichurch Wardens) Mr Matthew Atklns Mrs Jen Vernon-Edwafds (stepped down 211t September 20211 Mrs Linda Oaniel lappointed 21 September 20211 MISS Deborah Green lappolnted 15 November 20201 Miss Frances Holl (appointed 21" September 20211 Mr Peter Hoh lappolnted 15" November 20201 Mr Adam Newell lappoinied IS November 20201 Mrs Hannah Rona {until 15 June 20211 Elected trustees Trustees, dedaratlon The current Trustees declare that they have approved the Trustees, Annual Report on thE date.. Si8ned on their behalf by Mr Matthew Atkins. Chair of Trustees
St Phi14?'s Church. Sheffiehj Statement of Financial Activities for the year ended 31 December 2021 Unrestrlcted Funds Restrlcted Fund5 Fme5 Captt Cornmurdty Totsl 2011 Total 2020 IrKome from: Donatn$ & #rants charitab actknles Other trading acti¥hles Inve$tment5 (Bank Iniefestl 83.597 8,326 91.924 102.637 S.685 5,685 19 80 27 19 Totsi Income Joi 97 111.503 Expendlture on: Charttable artlvltles: Staff Mlnlstry Venue 37,161 8,051 IL444 7,180 3Cfl 4.457 43.318 851 17,864 7.186 42.579 9.180 33,556 7,387 13,5801 Administration Independent examlhEr Charftable Glfts 5.280 8,066 13.347 9,212 Total Exp•ndlturn 10,116 13510 57 V172 iY,065 IOL214 N•t Incomelltxpendlture Adjustment Net mO¥tnt In fvnds Totsl funds at 01 Jènuary 2021 14A571 B.S62 9.189 14AS7 0.562 56.789 9.ZB9 47,5Cw) 45.583 Z4 4.519 162 Fund$ at 31 Deomber 1021 54.Y69 4519 416 65A51 .789
St Phlllp's thurth. SIMfft•ld Statement of Flnanclal Positlon as at 31 December 2021 18•l•nce She} UnrestrkW Fund5 Arlse Communlty FarnlMtS (*rtr•ath T¢M•I 2022 Totsl 2020 Not•s Flxed Assets Equlprnent. flxlure5 & fittings 2,542 2.542 Current Assets Debtors C•sh at bank and in haThl io li 4,993 $1,482 56.475 35 381 5.028 59,487 64.515 14,784 50,914 65.698 1.038 LO31 24 2.043 10 4.519 4.519 Total current •SSW5 416 Llabllltles Credltofs.. Amounts falling dut wlthin one year 12.1 Net current assets 11,7061 54.769 54,769 1.038 24 2.043 2.043 4.519 416 62.809 65.351 56,789 56,789 Total assets less (urrenl Ilabllltles 3.580 24 4.519 416 Credltors.. Amounts falllng due after morethin one yr 12.2 Tot•1 n•t assets 54.769 24 1043 4,519 416 65.351 56.789 Funds Unrestrlcted Funds Restricted Fund5 54,769 58,349 7,ClJ2 45.583 11,205 24 2.043 4.S19 416 Totsl Funds 54.769 4.519 416 65351 56.7B9 The financial Statements and notes on p•8es 6 to 19 were approved by the trustee5 on the date and slined their beh•lf by.. Mr Matthew Atklns. Chair of Trustees
St Phillp's Churth. Sheffleld Statement of Cash Flows for the year ended 31 December 2021 2021 2020 Retonc511atlon of net Incomel(expendtture) to net cash flow from opewatlng actlvltles Net income I lexpenditurel for the year 8,562 9,289 Adjustments for: Depreclètlon charges Interest receivable Ilncreaselldecrease in Debtors Increaselldetreasel in Credltors Net cash provlded by l{used In) oper•tlw •rtlvltles 292 1191 9.756 17,2031 11.388 1271 15,8861 8,139 11,515 ststement ol cash flows Net cash provlded by /lustd In) operatin8 activlties 11.388 11.SlS Cash flows from Investlnl Jrtlvttl•s Bank interest IPurchase of tan8ible assets) Sale of tanglble flxed assets Loss I IGaSnl on sale of assets Chanee In cash In the year Cash at bank and In hand at be8lnnln8 of the year C•sh •t the end ol th• y••r 19 12,8341 27 ,573 50,914 59,487 11,542 39,372 50,914 Analysls of cash at year end Petty cash Cash at CAF Bank 123 59,363 54 SO,860 Totsl hdd 59,487 50,914
St Phllip's Churth. Sheffield Notes to the flnandal statements l. Basis of preparation 1.1 Basls of accountlng These accounts have been prepared the going concem basis the hlstorlcal cost convention In accordance with: al Accounting and Reportlng by Charitles- Ststement of Recommended Practlce- Charltles SORP FRS 102 bl The Charities Art 2011 cl The Church Accountin8 Regulations 2015 1.2 Cha• In basls of accountlnz - none 2. Accountlng policles 2.1 Forni of Flnandal Statements Fund movements and balances are split between general. designated and restrlcted funds. General funds The funds of the Church that are not subject to any restrlctlons regarding their use and are available for the general purposes of the Church. DeSIated funds Funds set aside out of general funds by the Trustees for a speclfit wrpose over whose use and purpose the Council of Trustee5 has discretion. R•strlrt•d fvnds Funds subject to specific condition5 imposed by the donorlsl or bv specifSc terms of a trust deed or other le8al measure. All fvnds over whlch the Council of Trustees has use. control and management are consolldated In the full financial statements. 2.2 Income RecoltIOn ol Income Income Is Included In thestatement of Flnanclal Artfvltles ISoFA} when.. the Church becomes entitled to it: the trustee5 are virtually certain they will receive it- and the monetary value can be measured with sufflclent rellablltty. Inaxne wilh reted Where incomes has related expendlture las wlth fundraising or expendlture contratt income) the incomes and its related expenditure are reported Bross in the SOFA. Gnnts and donètlons Grants and donations are only included in the SOFA when the Churth has unconditional entitlement to them. Tax redalrns on dohatlons and 8lfts Income from tax reclalms is Induded in the SOFA at the same tlme as the gifts to whith it relates. Contrartual Income This 15 only included in the SOFA once the related goods or seThiites and performance have been delivered. related ifants
St Phllip's Church. Sheffield Notes to the flnandal statements Gffts In klnd Gifts in kind afe accounted for at a reasonable estimate of their value to the Church or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the Church. Gifts in kind for use by the charrty are included in the SOFA as income when receivable. Donated ser¥kes and These are only included in iricoming resources (with an equivalent fadlltles amount in resources expended) where the benefil to the charity is reasonabty quantifiable, measurable and material. The value placed on these resources is the estlmated value to the charlty of the service or facilily rtteived. Volunteer help The value of any voluntary help received is not Included In the accounts but is descrlbed in the trvstees, annual report. Investment Income This is induded in the accounts when receivable. It consist5 only of bank interest. 2.3 Expendlture and Llabllftles LlJblllty rewnltlon Liabllitles are reco8nlsed as soon ès there Is a lelal or constructlve oblS8atSon committing the Church io pay out resources. Gffts and ir•nts Where the Church 8lves è 8rant elther wlth condltkjns for Its payment bein8 è speclflc level of service or output to be provlded or with no conditions, such 8rants are reco8nised in the SOFA 35 soon as they have been paid to the recipient. 2.4 Penslon Costs Employer ontrlbutloni Employer contributions to are charged to expenditure each month. Thls applies to all eli8ible employees whether or not they have signed up to the staff pension stheme. All ¢ontributlons payable to the pension scheme are paid when due. 2.5 Assets Propertles To date the Church owns no properties. Eoulpment. Flxtures These are capitalised if they can be used for more than one year. nd Flttlnis and cost at least £5CK). They are valued at Cost or a reasonable value on reteipt. Depreclatlon Depreciation is provided at rates calculated to write off the cost less resldual value of each asset over Its expected useful Ilfe as follows: Eovipment. fixtures and fittings- 25% per annum stralght Ilne. 2.6 Ta¥atlon The Church is not liablè to income tax or capital gains tax on its charitable artiwtles. Irrecoverable VAT is included in the asset cost or expense to which it relates. io
St Philip's Church, sheffield Notes to the financlal ststements R•strIrt Funds F•nll c*ts1 Total 2021 Totsl 2020 Income breakdown (where requlredl 3.1 Donatlons & orants Members, committed 8l¥lr Other offerln8S Glft-ald tax recovery Grants from or8anisatSons 67.779 220 15.599 67,779 8,310 15135 74,249 2,011 15,967 10.409 102,637 236 83.597 8,326 91,924 3,2 Ch•rtt•ble •rtlvltl•s There was no Income from tharltable ortlvltles durlng the year 3.3 other tr•dlw artl¥lll•s Lettings Sale of Office Equlpment Ml%ellaneous 2.202 3,478 2.202 3,478 50 5,685 5.685 8,840 4 Expendlture breakdown Iwhefe required) Charltable artlvltles: 4.1 Staff PrOll - crjre employees Payroll- other employees Staff expenses 37.083 2C 577 37,083 4,657 577 36,587 4,457 992 37.861 4.457 42,318 42,579 li
St Philip's Churth, Sheffield Notes to the financlal statements Restykned Funds F•mlll•s Commufimy Outre•th Capknl P•rson Crgss Gerwwlty Pot Totsl 2021 Totsl 2020 4.2 Mlnlstry Whole church Katherln85 PAIWorshlp Youth. Children & families Leader5 & mernbers iralnlrya Pastoral suppon H05pltallty Novltlalel lThtern support Mi551on Focu5- Parson Cross Clty ctnire Mlssion Other mlssion artlty 1.545 4.459 378 270 391 219 1.545 4A59 378 270 391 219 76 3,494 3,258 175 20 629 601 601 8,051 8,051 9.180 4.3 Venu• 8u$lne55 rate5 Least of Buildin8s Insurance Utllltles Telephone & broadband Wof5hlp licences Waste co1Ction Repairs & sundries Events sunLlries Capita115ed addltlons Capitallsed dlsposals Depreciation 16.480 901 1.523 470 4S8 387 1,156 15 16,480 9)1 I23 470 458 387 1.156 15 12,8341 11,0381 292 25,486 1,240 1,403 1,015 395 2,258 190 I254) 11.0381 292 21.444 3.5801 17,864 33,SS6 12
St Phlllp'schurch, Sheffield Notes to the finan¢lal ststemeTrts F•mlN•s Commun*y Outreath Total 2021 Totsl 2020 4.4 AdmlnlstratSon Stationery. Off5 supplies. software. bank cK- 1.401 259 IA07 259 625 363 1.990 4,410 Communicattons Accovntsncy Fees Coniin8encle5 & mlscellaneous 7,186 7,387 4,5 Independ•nt Examln•f 3C 4.6 Charltable ilfts All NatK)ns Student- Susie Boyce Arlse gapt15t Union een's Centre 8ig Life Indi Cathedral Archer Pmject Horne Offerln8 Indla crisLs Networks Romanla Parson Cross Community Dv4elopment The Promlsed iarKI Safe Families Sheffield D•eSt St Luke's Hospl Together for schools Westways Prlmary School Wilson Slaidift YBA Home Mlssion & ot1 Y8A 353 645 353 645 14 14 24 173 15 220 21x1 200 49 3,750 1,374 1,374 1,270 L536 3,775 1536 3,775 2,566 2,566 2.5C4) 13,347 9,620
St Philip's Churth, Sheffield Notes to the flnanclal statements 5 Trustee Remuneration and related party transactlons Relmbursements 2021 2020 Travel and other out of pocket expenses were reimbursed to trustees as follows. Number of trustees reimbursed Training for ministry Church actlvities Staff expenses & hospitalfty Venue and office sundries 3,941 136 740 209 176 439 885 1,388 5,138 Pay and b•n•ffts Ourin8 the year 2 of the trustees were paid for thelr servlces as employees. They benefltted as follows.. 2021 2020 S•lary Pen51on ControtIonS Salary Pensl¢n ContrSbutlons Davld Oucker (Jolnt Church Leaderl Sarah Dycker (Joint Church Leader) 11.565 11,565 786 11,537 11.537 Glfts from Truit••s All members of the Church, Includlng Trustees, are expetted to glve generously to the Church to support Its ministry. Thi5 15 part of their expres%on of faith in God. No trustee gave larger 81ft5 than the norm to the Church. No trustee sought to Influence the artivlties of the Church by the amount that he or she gave. 6 Summ•ry d•daratlon Excluding the above amounts received or given, no tn15tte or other person connetted to the Church had any personal Interest in any contrart or transèction reed to the Church durln8 the year. 14
St Phlllp's Church. Sheffleld Notes to the financial statements 6 Preparation and examination of the financial statements These statements have been prepared by an outsourced accountant who prepares the Church's monthly accounts. They have been examined by an independent examiner. 2021 2020 Provision for Independent Examiner's fee & tosts 31XJ 300 7 Employees No employee earned more than £60.(KX) during the year. 2021 2020 Payroll costs Central Mlnlstry & Admlnlstrarlon Events Manager Prison Ministry Famllles Outreach Workers 37,083 2(Xl 36,587 4,511 4,457 41,741 41,587 Payroll breaks down as: Gross pay to employees Employer's national insurance Employment Allowance Statutory Maternlty Pay recoverable from HMRC Employer's penslon contributions 39,297 1,119 11.1191 39,333 11.0211 ioi 2,276 2,443 41.741 41,587 Average head caunt Full-time employees Part-tlme employees Full tlme equlvalent employees General Ministry & Administration Events Manager & cleaners Prlson Ministry Famlles Outreath 15
St Phllip's Churth Sheffield Notes to the flnanclal statements 8 Pensions The Church partlclpates In the Penslon 8ullder 2014 stheme sectlcm of the Church Workers Penslon Fund ICWPFI for lay staff. The Scheme is administered by the Church of En8land Pensions Board. whith holds thè assets of the stheme separately from those of each participating eMplor. The CWPF has a sectM)n known as the l)efined Benefits Scheme, a deferred annuity Section known ès Penslon Builder Classic and a cash balance section known as Pension Builder 2014. The Pension Builder 2014 scheme is classed as a defined benefrt scheme Ibecause it 8uarantet5 3 minimum pav- out at Normal Retlrement A8el though It has all the elements of a money-purchase scheme. It meets the Penslon Ae8ulatorfs auto enrolment requirements. Penslon Bullder 2014 Is a Gish balance S(Prne that prlIdeS a lump surn that members use trj provlde nefItS ai retirement. Pension contributions a Orded tn an account fof èach member. This account may have bonuses added bythe Board before retirement. The bonuses depend on investrnent eKperience and other factors. There is Tho requlrement for the Board to grant any bonuses. The accounL plu5 any bonuses dedared. Is payable from members. Normal Pension Age. There Is no su&dlvlslon of assets between eMplor5 In eath sertlon of the Penslon Bullder Scheme. The Scheme is considered to be a rnulti-employer scherne as descrtbed in Section 28 of FRS102 as It is not possible to attribute the Pension Builder Scheme's asset5 and lialm'lities to specifTrc employtrs. Thls means that Contributions are accounted for as If the Scheme were a defined contrlbutlon scheme. The penslons ¢osts ¢har8ed to expenditure lin the SOFA) in the year are contributions payable plus anv ¢ontrlbLrtlons calculated arbd set aslde by thè Churth where penslonable salary detalls have not been bTOU8ht up to date by the Pensi$ 8oard. A full actuarlal valuation of the Penslon Bullder Stheme Is cèrrted out once every three yeafs,. the next full actuarlal valuatlon Is due as at 310ecember 2022. A snapshot wa5 proded at 31 December 2020.. for the Penslon Bullder 2014 section. the valuation revealed a surplus of E7.2m on the ongoing assumptions used. There is no requirement for deficit payments by participatins employers at the current time. The next full actuarial valuatlm Is due as at 31 De¢ember 2022. The legal structure of the scheme is such that, in the event of a scheme deficit, if another employer fails, St Phlllp'5 Church could become respon51ble lor vIn8 a share of the failin8 employer's penslon Il•bS1itles. At 31 December 2021 the Church had 3 adlve members in the Penslon Bullder 2014 5ectlon. The Church contribule$ 7% of basic salary Iwhi¢h Includes 1% for death in sÈrvicÈ cover of 4 tlmes salary) and the employees are required to conlribute a minimum Contribthion of 2%. The employer's ¢oniribution5 for the ye•r totalled £2.44312020- £2,276). 16
St Phlllp's Churth. Sheffield Notes to the financlal statements Tanglble flxed assets The Church owns no land or bulldin8s. ltsonly fixed assets consist of equ5pment, fixtures and fittings. 2021 1020 Cost Brought forward Addltions Dlsposals Total at the end ol the yèar 15.991 2.834 114.8501 3,975 15.991 15,991 Depreclatlon Brought forward On disposals Char8e for the year Total at the end of the year 15.991 114,8501 292 1,433 15.991 15,991 Net book value at the end of the year 2,542 Net book value at the beilnnlne of the year 10 Debtors and Prepayrnents Accounts receivable Glft Aid- income tax reciy4eroble Prepayments Sundry debtors 4.304 724 8.275 6,509 5,028 14.784 11 Cash at Bank and In Hand Cash at Bank Cash In Hand 59.363 123 50.860 59,487 50,914 Totsl Cuffent Assets 64.515 65.698 12 Credltors and Accruals 12.1 Credltors due wlthln one year Trade ¢Teditors P*nslgn tontrlbutlons accrual PAYE tax & national insurance Sundry creditsys and accruals 285 258 389 774 7,778 209 169 754 1.706 8.909 12.2 Credltors: amounts fallln8 due after more than one year Therè wÈrÈ no lonB term crèdiiors 17
St Phlllp's Church Sheffleld Notes to the financial ststements 13 Funds The movement and balances of all funds are gwen in detail in the SOFA and SOFP and the notes to which they refer. Unrestrirted Funds 13.1 General Fund The General Fund is used for the 8eneral mlnistry of the church. 11 can be used for any of the charltable objectives of the Church. Its use is at the direction of the Trustees 13.2 Capltsl Fund11)esl8nated) A desi8nated fund is a fund where the Trustees have chosen to set aside money or other assets for a particular purpose. They hove discretion to move some or all of the deslinated fund back Into the general fund at any time. The Trustees prefer the General Fund to refiett just the movement and balance of the Ilquld unrestrlcted assets Icash, debtors and credit¢)rsl of the Church. Hence the value of the tangible assets Is held separately In this designated fvnd. Restrlcted Funds 13.3 Arfse Communlty Fund Arlse Is a missional communlty based in Pitsmoor. Money is recelved Into this fund particularly for work amon8St children and their families in that area. 13.4 Parson cro Fund The Church has a misslon team based In the Parson Cross area. Church members have liven 81fts to thls fund to enable outreach attivities. Disbursal of the fund is supervlsed by the Pafson Cross mlsslon team leader. alance Balance Parson Cross 4.519 4.519 13.5 Baptlst Mlnlster TAlnln8 Sarah Ducker, one of the Church leaders. was a student wlth St Hlld's College and Northern Baptlst College with a view to being ordained as a Baptist Minister. The Vorkshire Baptis1 Association paid part of her fees throu8h this fund,. the balance of the fees were pald from the General Fund. Thls fund was fully expended at 31st December 2020. 13.6 Famllles Outreach In November 2020 the church was awarded a grant of £6.500 from Baptlst Insurance to be used towards half of the first year's salary of three part-time Families Outreach workers. Their role is to develop and Support missional outreach with a focus on families with young children in Parson Cross and the S6 area. The Families Outreach wotkers commenced employment in August 2021. Openlnl Balance Closlng Balance Income Expended Famllles Outreach 6.5LYI 14.457) 2.043 18
St Phlllp's Church Sheffield Notes to the financial statements 13.7 Generoslty Pot From time to time the Church appeals for offerin85 to SUPPOrt mission organisations or individuals en8aged In misslon. The 81ft5 received into this fund are forwarded as soon as prarticable to the deslgnated beneficlaries. 14 Grants over £1,000 from Instltutlons 2021 2020 Baptist Insurance- Familles Outreach Workers Inote 13.6 above) Yorkshlre Baptlst Assotlatlon - mlnlster tralnln8 SUPPOrt (note 13.5 aLwl 6,500 1.750 15 Grants to Instltutlons All 8lfts and 8rants are detalled In Note 4.6. 16 Operatln8 lease In July 2019 the Church contracted for a 5.year lease of 21-23 North Church Street for the use of the Church as its operation5 base.. the landlord was the Sheffield Church Burgesses Trust and this contract was cancelled in July 2021. In Au8USt 2021 the Church contracted for a l-year lease of The Stamp House. S2 Bank Slreet. the landlord Is The Stamp House Ltd 17 Capltal commltments The Church had no capital commTrtments at the year end. 19