## **Annual finance report 2021- All Saints Findon Valley** ## **Commentary and Notes to the Annual Financial report 2021** 1. The Financial statement of the PCC have been prepared in accordance with the Charities Act 2011and the Church Accounting Regulations 2006, using the Receipts and Payments process/basis. 2. The following assets are recognised but are not valued in the Balance Sheet 1. Movable Church furnishings held by the Churchwardens on special trust for the PCC which require a faculty for disposal 2. Movable furnishings and equipment which are written off as acquired which are of small individual value and are retained indefinitely 3. Land and Buildings which are in use indefinitely, the market values of which are immaterial 3. As the accounts are prepared on a receipts and payments basis, no accrued assets or liabilities are shown. We have assessed the total estimated amount of liabilities at year end, and these are less than £5000, and are considered not material to the overall accounts. These include minor items such as issued cheques not cashed and electricity used since the last payment and are similar in value from year to year and therefore not material to the accounts. These liabilities are in any case counterbalanced by accrued assets e.g. tax recoverable from GIFT AID, not received. 4. No payment was made to any PCC member – other than 1] reimbursement of expenses incurred supporting and on behalf of the PCC, and 2] the salary paid to Mrs H. Symonds in her capacity as Treasurer and Hall Booking Secretary for All Saints Church, Findon Valley. 5. In 2021 the operations within the church and its finances were still being affected by Covid 19, but the latter part of the year saw restrictions ease, Trading income increased due to more hall lettings which at the end of year was £17,516.23. Overheads remain in a similar position being our Parish Share to the Diocese, salaries, general running and upkeep of the church and hall, and there will be increases for the gas and electricity. 6. ARK remains in place, Caroline Kosa resigned in the early part of this year due to family commitments, and Lorraine Taylor has been standing in on a voluntary basis, and we have been very grateful to her for all her hard work. 7. The analysis and commentary of the Receipts and Payments is shown below. The summary and details are included elsewhere in this Annual Financial Report. 1. The parish received four legacies, the estate of Avril Povey £5775.68, the estate of Mrs Priest £2000, estate of Ruth Light £79,697.44, and the estate of Audrey Gibson Poole £200 a total amount of **£87,673.12.** These funds will assist in the general running of the Parish and future projects. 2. The Parish set an overspend budget in 2021 for £85,850 but with the [unbudgeted legacies] the overall end 2021 was an underspend of £55,641 against the budget. 3. The year ended with a balance/total asset value of £176,973 [£113,164 as at end of December 2020] so with the expenditure £88,669 and the income of £56,637 the PCC have had to use **£32,032** from the reserves/legacies. 4. The total Receipts from Donors were down in 2021 at £24,523 compared 2020 [£26,630]. Other voluntary receipts [including legacies] were up in 2021 £93,111, as compared to 2020 [£32,517]. Income from activities for generating funds increased for 2021 [£20,586] compared to [£18,256] in 2020. The total Receipts for 2021 were £144,311, compared to [£87,555] in 2020. 5. The income from investments/interest from bank & investment accounts in 2021 was £2,571 compared to £2,896 [2020] 6. The total payments [expenditure] for 2021 was [£88,670] compared to [£107,704] the lower amount for this year was partly due to not spending any finances on Major repairs or New building work, compared to 2020 when work was completed at St Peter's church for windows, doors and lighting, surveyors fees for the memorial garden, plus salaries for ARK, Parsonage house expenses, parish training. 7. The budget for 2022 shows a planned overspend of £50,150, the reserves will be used to help fund this. These reserves will also be used for contingency backup, the day to day running costs of the church, plus mission, and for the public benefit. ## **Projects identified for 2022** 8. Before our new Vicar Andrew Cunnington arrives, the PCC have agreed that the Vicarage will be redecorated, as it is some years since this has been done. 9. The possibility of having a defibrillator at the church is under review by the PCC. 10. Any other large expenditure, or projects, would probably have to be put on hold until our new incumbent arrives. 11. The parish operates a main Current account, and a Trading account for hall lettings etc with HSBC and deposit accounts with CBF Church of England Investment Fund. 12. Surplus funds are invested via the diocese in income share accounts with CCLA which is the fund management service party owned by the Church of England. 13. Restricted funds [which must be spent on the defined purposes] are held for Choir, £399 at year end, Flowers £137 at year end, and the Goddard fund [£6,374 at year end] which is for children and families. 14. The Parish has one endowment fund [from which the interest earned may be spent] which is the Garden Fund at £1,560. The report from the independent examiner, Mr Ken Elliott of Findon Accountancy is attached at the end of the report. Heather Symonds Treasurer 02 February 2022 All Saints Church, Findon Valley [with St Peters, High Salvington] **All Saints Church Cost centre throughput against budget For the period: 01 Jan 2021 - 31 Dec 2021** ||**Year to date: 01 Jan 2021 - 31 Dec 2021**
**Budget**
**Actual**
**Variance**|**Budget for year**
**ending 31/12/2021**| |---|---|---| |**Total Receipts And Payments**
**Receipts**
**01 Tax Efficient Planned Giving**
**0101: Gift Aid - Bank**
**Income**
**0102: Gift Aid Envelopes**
**Income**
**0103: One-off Gift Aid Gifts**
**Income**
**02 Other Planned Giving**
**0201: Weekly And Monthly Envelopes**
**Income**
**0202: Non-Gift Aid - Bank**
**Income**
**03 Cash Collections At Services**
**0301: Loose Plate Collections**
**Income**
**0302: Jump Collection**
**Income**
**04 All Other Recurring Giving**
**0401: Christening, Wedding, Donation**
**Income**
**0402: Flower Fund Donations**
**Income**
**0403: Mission Support / Giving**
**Income**
**0404: Regular Gift Days**
**Income**
**0405: Sunday Morning Coffee**
**Income**
**0406: Annual Gift Day**
**Income**
**05 All Non-Recurring Giving**
**0501: Donations Appeals Etc.**
**Income**
**0502: Gifts Of Quoted Securities**
**Income**
**06 Tax Recovered**
**0601: Tax Recoverable On Gift Aid**
**Income**
**07 Legacies Received**
**0503: Legacies**
**Income**
**08 Grants Received**
**0801: Recurring Grants**
**Income**
**08A2: One Off Grants**
**Income**|**17,000**
**15,063**
**(1,937)**
**2,000**
**1,112**
**(888)**
**-**
**159**
**159**
**-**
**4,712**
**4,712**
**500**
**2,482**
**1,982**
**300**
**888**
**588**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**250**
**259**
**9**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**2,000**
**566**
**(1,434)**
**-**
**-**
**-**
**8,000**
**4,716**
**(3,284)**
**-**
**87,673**
**87,673**
**-**
**-**
**-**
**-**
**-**
**-**|**17,000**
**2,000**
**-**
**-**
**500**
**300**
**-**
**-**
**-**
**250**
**-**
**-**
**-**
**2,000**
**-**
**8,000**
**-**
**-**
**-**| (2 February 2022 1:12 am) Page 1 of 4 |**09 Fund Raising**|||||| |---|---|---|---|---|---| |**0901: Fetes And Fayres Etc.**|**Income**|**750**|**589**|**(161)**|**750**| |**0902: Jumble Sales Etc.**|**Income**|**750**|**-**|**(750)**|**750**| |**0903: Social Events**|**Income**|**-**|**30**|**30**|**-**| |**0904: GuildCare Project Income**|**Income**|**-**|**-**|**-**|**-**| |**10 Investment Income**|||||| |**1001: Bank Interest - General**|**Income**|**2,000**|**2,571**|**571**|**2,000**| |**1002: Bank Interest - Hall**|**Income**|**-**|**-**|**-**|**-**| |**1003: Dividends**|**Income**|**-**|**-**|**-**|**-**| |**11 Fees**|||||| |**1101: Fees For Weddings & Funerals**|**Income**|**6,500**|**3,449**|**(3,051)**|**6,500**| |**12 Trading Income**|||||| |**1201: Ch Hall Lettings-Fund Raising**|**Income**|**12,500**|**16,676**|**4,176**|**12,500**| |**1202: Ch Hall Lettings PCC Objects**|**Income**|**-**|**-**|**-**|**-**| |**1203: Magazine Income - Advertising**|**Income**|**-**|**-**|**-**|**-**| |**1204: Magazine Income - Sales**|**Income**|**-**|**69**|**69**|**-**| |**1205: St Peter's Hire**|**Income**|**-**|**-**|**-**|**-**| |**1206: Sales-candles,mugs,shirts Etc**|**Income**|**600**|**770**|**170**|**600**| |**1207: Surplus-sale Of Fixed Assets**|**Income**|**-**|**-**|**-**|**-**| |**13 Other Income**|||||| |**1301: Insurance Claims**|**Income**|**-**|**-**|**-**|**-**| |**1302: Miscellaneous Other Income**|**Income**|**1,000**|**2,519**|**1,519**|**1,000**| |**1303: Vicarage Share Of Phone Bill**|**Income**|**-**|**-**|**-**|**-**| |**Payments**|||||| |**17 Costs Of Generating Funds**|||||| |**1701: Costs Of Applying For Grants**|**Expenditure**|**-**|**-**|**-**|**-**| |**1702: Cost Of Fetes & Other Events**|**Expenditure**|**350**|**73**|**276**|**350**| |**1703: Costs Of Stewardship Campaign**|**Expenditure**|**150**|**-**|**150**|**150**| |**1704: Fees Paid To Fund Raisers**|**Expenditure**|**-**|**-**|**-**|**-**| |**1705: Investment Management Costs**|**Expenditure**|**-**|**-**|**-**|**-**| |**18 Mission And Charitable Giving**|||||| |**1801: Giving-relief & Dev Agencies**|**Expenditure**|**-**|**-**|**-**|**-**| |**1802: Giving To Missionary Societies**|**Expenditure**|**450**|**-**|**450**|**450**| |**1803: Home Mission**|**Expenditure**|**750**|**505**|**244**|**750**| (2 February 2022 1:12 am) Page 2 of 4 ||**1804: Secular Charities**|**Expenditure**|**300**|**48**|**252**|**300**| |---|---|---|---|---|---|---| |**19**|**Parish Share To Diocese**|||||| ||**1901: Diocesan Fees**|**Expenditure**|**3,000**|**973**|**2,026**|**3,000**| ||**1902: St Andrew's School - Parish Share**|**Expenditure**|**550**|**-**|**550**|**550**| ||**1903: Stipends Quota**|**Expenditure**|**46,800**|**46,807**|**(7)**|**46,800**| |**20**|**Salaries And Honoraria**|||||| ||**2001: Assistant Staff Costs**|**Expenditure**|**6,000**|**2,168**|**3,831**|**6,000**| ||**2002: Hall Administration**|**Expenditure**|**-**|**2,936**|**(2,936)**|**-**| ||**2003: Organist**|**Expenditure**|**500**|**50**|**450**|**500**| ||**2004: Salary Of Parish Administrator**|**Expenditure**|**8,000**|**8,571**|**(572)**|**8,000**| ||**2005: Verger Fees**|**Expenditure**|**200**|**90**|**110**|**200**| ||**2006: Vicar's Funeral Fees**|**Expenditure**|**250**|**405**|**(155)**|**250**| ||**2007: Visiting Speakers**|**Expenditure**|**1,000**|**226**|**773**|**1,000**| |**21**|**Expenses Of Clergy Etc.**|||||| ||**2101: Parsonage House Expenses**|**Expenditure**|**-**|**1,001**|**(1,002)**|**-**| ||**2102: Working Expenses Of Incumbent**|**Expenditure**|**1,000**|**-**|**1,000**|**1,000**| |**22**|**Mission And Evangelism**|||||| ||**2201: Communications**|**Expenditure**|**250**|**356**|**(107)**|**250**| ||**2202: Parish Training And Mission**|**Expenditure**|**1,500**|**55**|**1,445**|**1,500**| ||**2203: Sunday Sch. & Youth Activities**|**Expenditure**|**1,000**|**924**|**75**|**1,000**| ||**2204: GuildCare Project Expense**|**Expenditure**|**-**|**-**|**-**|**-**| |**23**|**Regular Running Expenses**|||||| ||**2301: Administration**|**Expenditure**|**2,000**|**166**|**1,834**|**2,000**| ||**2302: Bank Charges**|**Expenditure**|**-**|**10**|**(10)**|**-**| ||**2303: Church Maintenance**|**Expenditure**|**2,000**|**1,882**|**117**|**2,000**| ||**2304: Cleaning**|**Expenditure**|**200**|**35**|**165**|**200**| ||**2305: Flowers**|**Expenditure**|**100**|**88**|**12**|**100**| ||**2306: Insurance**|**Expenditure**|**3,000**|**492**|**2,507**|**3,000**| ||**2307: License Fees, Royalties**|**Expenditure**|**500**|**1,217**|**(718)**|**500**| ||**2308: Materials For Services**|**Expenditure**|**750**|**767**|**(18)**|**750**| ||**2309: Miscellaneous Running Costs**|**Expenditure**|**1,000**|**927**|**72**|**1,000**| ||**2310: Movable Furnishings-Equipment**|**Expenditure**|**250**|**294**|**(45)**|**250**| ||**2311: Organ/piano Tuning**|**Expenditure**|**300**|**411**|**(111)**|**300**| ||**2312: Other PCC Property Upkeep**|**Expenditure**|**250**|**-**|**250**|**250**| (2 February 2022 1:12 am) Page 3 of 4 ||**2313: Printing & Photocopying**|**Expenditure**|**1,500**|**1,534**|**(35)**|**1,500**| |---|---|---|---|---|---|---| ||**2314: Stationery**|**Expenditure**|**1,100**|**849**|**250**|**1,100**| ||**2315: Subscriptions**|**Expenditure**|**250**|**1,356**|**(1,107)**|**250**| ||**2316: Telephone-office**|**Expenditure**|**-**|**118**|**(119)**|**-**| ||**2317: Upkeep Of Churchyard**|**Expenditure**|**1,000**|**85**|**915**|**1,000**| |**24**|**Utilities**|||||| ||**2401: Church Utilities - Elec**|**Expenditure**|**4,500**|**4,006**|**493**|**4,500**| ||**2402: Church Utilities - Gas**|**Expenditure**|**1,500**|**2,735**|**(1,236)**|**1,500**| ||**2403: Church Utilities - Wate**|**Expenditure**|**400**|**178**|**221**|**400**| |**25**|**Trading Costs**|||||| ||**2502: Hall Costs - Cleaning**|**Expenditure**|**4,500**|**2,276**|**2,223**|**4,500**| ||**2503: Hall Costs - Grounds Upkeep**|**Expenditure**|**-**|**85**|**(85)**|**-**| ||**2504: Hall Costs - Insurance**|**Expenditure**|**-**|**2,683**|**(2,684)**|**-**| ||**2505: Hall Costs - PRS**|**Expenditure**|**-**|**-**|**-**|**-**| ||**2506: Hall Costs - Repairs**|**Expenditure**|**1,500**|**75**|**1,425**|**1,500**| ||**2507: Magazine And Bookstall Expense**|**Expenditure**|**-**|**-**|**-**|**-**| ||**2508: Hall Costs - Services**|**Expenditure**|**2,500**|**692**|**1,807**|**2,500**| ||**2509: Hall Costs - Sundry**|**Expenditure**|**300**|**101**|**198**|**300**| |**26**|**Governance /Audit Costs**|||||| ||**2601: Audit & Accountancy**|**Expenditure**|**-**|**100**|**(100)**|**-**| |**27**|**Major Repairs & Redecoration - Church**|||||| ||**2701: Interior & Exterior Decoration**|**Expenditure**|**1,000**|**-**|**1,000**|**1,000**| ||**2702: Major Repairs Structure**|**Expenditure**|**6,000**|**-**|**6,000**|**6,000**| |**28**|**Major Repairs & Redecoration - Hall And Other Property**|||||| ||**2801: Major Repairs Installations**|**Expenditure**|**1,000**|**-**|**1,000**|**1,000**| |**29**|**New Building Works**|||||| ||**2901: New Building Church**|**Expenditure**|**30,000**|**306**|**29,694**|**30,000**| ||**Total for Total Receipts And Payments - Income minus expenditure**||**(85,300)**|**55,640**|**140,940**|**(85,300)**| (2 February 2022 1:12 am) Page 4 of 4 Ind endent E miner's Re to the PCC of All Saints Church, Fin Salvingt n). acEn on Vall y (with St Peter's Hi ecem Section A This is my report to the Parochial Church Council of the Ecclesiastical Parish (PCC) of All Saints, Findon Valley, on the annual report for the year ended 31" December 2021 Respective sibilities of examiner The PCC memoers are responsible for the preparation of the annual reports. The PCC members considar that an audit is not required for this year under section 144 of the Charities Act 2011 ( 'the Charities ACL,) and that an independent examination is needed. trustees an It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by Lhe Charity Commission (under section 145(5)(b) of the Charities Act, and to state whether particular matters haije come to my attention. Basis of In ependent exami er's statement My examination was carried out in accordance viith ganeral Directions given by the Charity Commission. An examination iiicludes a review of the accounting records kept by the charity and a compai ison of the accounts presented with those records. It also includes considaration of any unusual items or d"'sclosures in the accountb, and seaking explanations from the trustees concerr),ing any such matters. The proLeduras undertaThen do noi proii',de all tne evidence tnat woiJld be required in ai aLidii, and consaoiJently no ooinion is giyan as to ljvhetner the accounLS present a 'truo and fair, view an.d the reDOCL li limiied to those matters set OLIt in Ihe staternent beloiN. Independent examiner's state ent In conneition Mjith rny exarr,ination, no rriateria, matter) nave come to rny aLLention which gives me cause to believe that in, any matersal respect: accounting records were not kept in accordance with section 130 of the Charities Act or 2 the accounts do not accord with the accounting records I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. * Please delete the words in the (brackets) if tneji do not apply Examin.erfs signatur Examynerfs r.am.e r￿1p11A1 ate Relevant pro!es>ional u?lification(s) or o dy ij an/1 EAaminerf> addre>> rcis