## **Annual finance report 2022** ## **All Saints Findon Valley with St Peters, High Salvington** ## **Commentary and Notes to the Annual Financial report 2022** 1. 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. 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 and Mrs L. Hawkins in her capacity as Parish Office Manager. 5. 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. 6. 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. 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 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. 2. 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. 3. 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. 4. 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** . 5. The income from investments/interest from bank & investment accounts in **2022** was **£3,681** compared to **2021 £2,571** . 6. 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. 7. 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. 8. 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. 9. 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. - 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 10. 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. 11. 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** 1. 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**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-| ||**-**
**-**
**-**
**-**
**-**
**-**| ||**80,061.60**
**145.60**
**40.00**
**-**
**80,247.20 144,080.89**| |**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| ||**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**
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