Annual finance report 2022
All Saints Findon Valley with St Peters, High Salvington
Commentary and Notes to the Annual Financial report 2022
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The Financial statement of the PCC has been prepared in accordance with the Charities Act 2011 and the Church Accounting Regulations 2006, using the Receipts and Payments process/basis.
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The following assets are recognised but are not valued in the Balance Sheet
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Movable Church furnishings held by the Churchwardens on special trust for the PCC which require a faculty for disposal
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Movable furnishings and equipment which are written off as acquired which are of small individual value and are retained indefinitely
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Land and Buildings which are in use indefinitely, the market values of which are immaterial
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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.
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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 and Mrs L. Hawkins in her capacity as Parish Office Manager.
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In 2022 the operations within the church were back to normal after Covid. Trading income increased due to more hall lettings which at the end of year was £22,000. Overheads for 2022 include increased gas and electric prices, cleaning costs, the general day to day running and upkeep of the church and hall, our full quota of Parish share to the Diocese, salaries, insurances, council tax and re-decoration to the vicarage.
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ARK - Enquiries were made regarding any possible grants to fund the ARK project, and if funding was not available to employ a co-ordinator, it was decided that the church was not in a financial position to fund this project at the present time. The mobile phone contract has been cancelled, but some other things from before are still in place if the situation changes.
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The analysis and commentary of the Receipts and Payments is shown below. The summary and details are included elsewhere in this Annual Financial Report.
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The parish has received three legacies, the estate of Rita Ruhl £5,000, the estate of Margaret Beaver £2990.27, estate of Margaret Browning £2,000, which represents a total amount of £9990.27. These funds will assist in the general running of the Parish and future projects. A new Laptop was also purchased from the legacies.
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The Parish set an overspend budget deficit in 2022 for £53,350 the amount of the actual
deficit at the end of the year was a total of £25,827 and this is less than the budget figure by £27,523 which is due to receiving legacies, increase in parish giving, money from social events etc.
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The year ended with a balance/total asset value of [£134,181 ] compared to [£177,013 ] as at 2021 , so with the expenditure of [£106,073 ] and the income of [£70,257 ] the PCC have had to use £35,816 from the reserves/legacies.
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The total Receipts from Donors was up for 2022 [£29,383 ] compared to 2021 at [£24,293 ]. Other voluntary receipts [including legacies] were down in 2022 [£17,748 ] compared to 2021 [£93,111 ]. Income from activities for generating funds increased for 2022 [£26,608 ] compared to 2021[£20,586 ]. The total Receipts for 2022 were £80,247 compared to 2021 £144,311 .
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The income from investments/interest from bank & investment accounts in 2022 was £3,681 compared to 2021 £2,571 .
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The total payments [expenditure] for 2022 was £106,073 compared to [£88,400] for 2021 the higher amount for this year was partly due to increasing costs overall, vicarage decorating, council tax, church maintenance.
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The budget for 2023 shows a planned overspend/deficit of £57,600 , 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.
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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.
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Surplus funds are invested via the diocese in income share accounts with CCLA which is the fund management service partly owned by the Church of England. We have had to withdraw £50,000 over the year from the CCLA Accounts, which funded the low balance carried over from 2021 with a contingency in place for 2022. However the CCLA investment accounts do not appear to have performed very well over the year. The following balances in the CCLA A/c’s comprise of legacies that were received in 2021 of £87,673 and the legacies received this year of £9,990, and the monies that were withdrawn in 2022.
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The CCLA accounts as at the 31[st] December 2022 are valued at A/c ..1604S £78,882.33, A/c.. 1054F £1,210.59, A/c..1178F £8,454.26, as shown in the Balance Sheet Report. HSBC Current account as at the 31[st] December 2022 was £33,252.02
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Restricted funds [which must be spent on the defined purposes] are held for Choir, £439 at year end, Flowers £137 at year end, and the Goddard fund [£5,097 at year end] which is for children and families. From this fund an enjoyable day was spent for the children and families to visit Moors country park, Dorset.
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The Parish has one endowment fund [from which the interest earned may be spent] which is the Garden Fund at £1,560.
8. Projects identified for 2023
- The PCC are looking into investigating Solar Panels and possible smart meters.
The report from the independent examiner, Mr Ken Elliott of Findon Accountancy is attached at the end of the report.
Heather Symonds Treasurer 4[th] March 2023.
All Saints Church
Analysis of income and expenditure Selected period: 01 January 2022 to 31 December 2022
| Total General Designated Restricted Endowment This year Last year |
|
|---|---|
| Incoming resources Incoming resources from donors 0101 - Gift Aid - Bank 0102 - Gift Aid envelopes 0202 - Non-Gift Aid - Bank 0301 - Loose plate Collections 0302 - Jump collection 0401 - Christening, wedding, donation 0402 - Flower Fund Donations 0403 - Mission Support / Giving 0404 - Regular gift days 0405 - Sunday morning coffee 0406 - Annual Gift Day 0601 - Tax recoverable on Gift Aid Incoming resources from donors Totals Other voluntary incoming resources 0103 - One-off Gift Aid gifts 0201 - Weekly and Monthly envelopes 0501 - Donations appeals etc. 0502 - Gifts of quoted securities 0503 - Legacies 0801 - Recurring grants 08A2 - One off Grants Other voluntary incoming resources Totals Activities in furtherance of the PCC's objects 1101 - Fees for weddings & funerals 1202 - Ch hall lettings PCC objects 1204 - Magazine income - sales Activities in furtherance of the PCC's objects Totals Activities for generating funds 0901 - Fetes and Fayres etc. 0902 - Jumble sales etc. 0903 - Social Events 1201 - Ch hall lettings-fund raising 1203 - Magazine income - advertising 1206 - Sales-candles,mugs,shirts etc 1302 - Miscellaneous Other Income 1303 - Vicarage share of phone bill Activities for generating funds Totals |
16,710.00 - - - 16,710.00 14,833.00 1,131.00 - - - 1,131.00 1,112.80 3,578.00 - - - 3,578.00 2,482.47 2,149.56 - - - 2,149.56 888.99 44.85 24.00 - - 68.85 - 23.76 - - - 23.76 - - - - - - - 347.70 49.00 - - 396.70 259.78 - - - - - - - - - - - - - - - - - - 5,324.93 - - - 5,324.93 4,716.63 |
| 29,309.80 73.00 - - 29,382.80 24,293.67 - - - - - 159.00 5,286.00 - - - 5,286.00 4,712.65 1,422.11 - - - 1,422.11 566.86 - - - - - - 9,990.27 - - - 9,990.27 87,673.12 - - - - - - 1,050.00 - - - 1,050.00 - |
|
| 17,748.38 - - - 17,748.38 93,111.63 2,786.56 - 40.00 - 2,826.56 3,449.00 - - - - - - - - - - - 69.50 |
|
| 2,786.56 - 40.00 - 2,826.56 3,518.50 - - - - - 589.45 1,001.18 - - - 1,001.18 - 1,706.00 - - - 1,706.00 30.00 21,453.90 - - - 21,453.90 16,676.02 - - - - - - 622.81 - - - 622.81 770.71 1,751.55 72.60 - - 1,824.15 2,519.86 - - - - - - |
|
| 26,535.44 72.60 - - 26,608.04 20,586.04 |
Income from investments
(23 February 2023 1:20 pm) Page 1 of 3
| Total General Designated Restricted Endowment This year Last year |
|
|---|---|
| 1001 - Bank interest - General 1002 - Bank interest - Hall 1003 - Dividends 1205 - St Peter's Hire Income from investments Totals Other incoming resources 0904 - GuildCare Project Income 1207 - Surplus-sale of fixed assets 1301 - Insurance claims Other incoming resources Totals Incoming resources Grand totals |
3,431.42 - - - 3,431.42 2,571.05 - - - - - - - - - - - - 250.00 - - - 250.00 - |
| 3,681.42 - - - 3,681.42 2,571.05 - - - - - - - - - - - - - - - - - - |
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| - - - - - - |
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| 80,061.60 145.60 40.00 - 80,247.20 144,080.89 |
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| Resources used Costs of generating funds 1701 - Costs of applying for Grants 1702 - Cost of fetes & other events 1703 - Costs of stewardship campaign 1704 - Fees paid to fund raisers 1705 - Investment management costs Costs of generating funds Totals Grants 1801 - Giving-relief & dev agencies 1802 - Giving to missionary societies 1803 - Home mission 1804 - Secular charities Grants Totals Activities relating to the work of the Church 1901 - Diocesan fees 1902 - St Andrew's School - Parish Share 1903 - Stipends Quota 2001 - Assistant staff costs 2002 - Hall Administration 2003 - Organist 2005 - Verger fees 2006 - Vicar's Funeral Expenses 2007 - Visiting Speakers 2101 - Parsonage house expenses 2102 - Working expenses of incumbent 2201 - Communications 2202 - Parish training and mission 2203 - Sunday sch. & Youth activities 2204 - GuildCare Project Expense 2303 - Church maintenance 2304 - Cleaning 2305 - Flowers |
- - - - - - - - - - - 73.67 - - - - - - - - - - - - - - - - - - |
| - - - - - 73.67 - - - - - - - 66.49 - - 66.49 - 220.00 - - - 220.00 505.44 33.35 260.00 - - 293.35 48.00 |
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| 253.35 326.49 - - 579.84 553.44 1,994.80 - - - 1,994.80 973.20 - - - - - - 46,812.00 - - - 46,812.00 46,807.00 60.00 - - - 60.00 2,168.78 4,008.00 - - - 4,008.00 2,936.00 340.00 - - - 340.00 50.00 30.00 - - - 30.00 90.00 67.20 - - - 67.20 405.00 163.80 - - - 163.80 226.40 10,935.55 - - - 10,935.55 1,001.03 - - - - - - - - - - - 356.70 - - - - - 55.00 - 1,124.27 - - 1,124.27 924.59 - - - - - - 3,588.93 - - - 3,588.93 1,882.93 - - - - - 35.00 442.45 - - - 442.45 88.00 |
(23 February 2023 1:20 pm) Page 2 of 3
Total
| Total | |
|---|---|
| General Designated Restricted Endowment This year Last year |
|
| 2306 - Insurance 2308 - Materials for services 2310 - Movable furnishings-equipment 2311 - Organ/piano tuning 2312 - Other PCC property upkeep 2313 - Printing & photocopying 2317 - Upkeep of churchyard 2401 - Church utilities - Elec 2402 - Church utilities - Gas 2403 - Church utilities - Wate 2502 - Hall costs - Cleaning 2503 - Hall costs - Grounds upkeep 2504 - Hall costs - Insurance 2505 - Hall costs - PRS 2506 - Hall costs - Repairs 2507 - Magazine and bookstall expense 2508 - Hall costs - Services 2509 - Hall costs - Sundry 2701 - Interior & exterior decoration 2702 - Major repairs Structure 2801 - Major repairs installations 2901 - New building Church Activities relating to the work of the Church Totals Support costs 2004 - Salary of parish administrator Support costs Totals Church management and administration 2301 - Administration 2302 - Bank charges 2307 - License fees, royalties 2309 - Miscellaneous Running Costs 2314 - Stationery 2315 - Subscriptions 2316 - Telephone-office 2601 - Audit & accountancy Church management and administration Totals Resources used Grand totals |
3,086.12 - - - 3,086.12 492.92 767.85 - - - 767.85 767.54 146.00 24.99 - - 170.99 294.99 234.00 - - - 234.00 411.00 - - - - - - 1,713.52 - - - 1,713.52 1,534.68 170.00 - - - 170.00 85.00 4,272.46 - - - 4,272.46 3,920.42 3,335.59 - - - 3,335.59 2,735.78 161.22 - - - 161.22 196.30 4,736.67 - - - 4,736.67 2,276.33 - - - - - 85.00 - - - - - 2,463.80 - - - - - - 350.00 - - - 350.00 75.00 - - - - - - 3,091.14 - - - 3,091.14 709.90 154.27 - - - 154.27 101.21 - - - - - - - - - - - - - - - - - - - - - - - 306.00 |
| 90,661.57 1,149.26 - - 91,810.83 74,455.50 9,564.00 - - - 9,564.00 8,571.40 |
|
| 9,564.00 - - - 9,564.00 8,571.40 52.30 - - - 52.30 166.00 248.62 - - - 248.62 10.00 985.53 - - - 985.53 1,217.62 1,022.16 - - - 1,022.16 927.79 697.86 - - - 697.86 849.17 475.16 - - - 475.16 1,356.25 536.43 - - - 536.43 118.77 100.00 - - - 100.00 100.00 |
|
| 4,118.06 - - - 4,118.06 4,745.60 |
|
| 104,596.98 1,475.75 - - 106,072.73 88,399.61 |
(23 February 2023 1:20 pm) Page 3 of 3
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