## **Annual Finance Report for Church of Our Saviour for 2021**
## **Overview**
The headline figures are:
- Surplus on general Fund of £11,198 ( _2020 – surplus of £11,405_ ) Over the last 5 years, there has been a surplus on General Fund of £20,214.
- Surplus on Building Fund of £4,578, after providing for depreciation of £10,348 on the Annex and improvements to the Church following the fire
- The total income for the year (see Statement of Financial Activities on page 4) amounted to £84,534 ( _2020 - £111,280_ ), a reduction of £26,746. The decrease was due to:
- Reductions (£37,641) in receipts from the insurers in respect of claims made for losses of income, to recover professional fees, and for goods damaged beyond economic repair. In 2021, this amounted to £5,978 ( _2020 – £43,619_ ).
- Increase in income from rents of Church Hall, Annex and Portakabin, etc - £11,281, ( _2020 - £7,577_ ).
- Increased giving – 2021 was £63,816, up nearly £5k from £58,957 in 2020
- Net change in value of Charifund shares, offset by reduced other income.
Expenditure also fell significantly to £68,759 ( _2020- £81,100_ ), mainly due to no more professional fees on the Building work.
## **Main points from the 2021 accounts**
- Planning giving for the Church and Building Fund held up very well, for which, as a Treasurer, I’m very grateful. Thank you.
- Rental income rose by nearly £4k. But is well short of the income of £23,732 received in 2019
- Parish Share will increase by around £7k now that we have a Minister in Chelmer Village.
- On an ongoing basis, excluding the final insurance claim and a legacy, the General Fund had a modest surplus.
- Following the Fire and the building of the Annex, we now have a smart, updated and extended Church building, ready to serve the people of Chelmer Village and Chancellor Park.
## **Charitable giving (Page 12)**
It is the policy of the Church Council to make donations to charitable organisations equal to 10% of the income for the year, excluding rental income. Accordingly provision has been made in the accounts for donations of £5,235 ( _2020 - £4,925_ ). Details of charitable giving are set out in page 12.
## **Christian ministry (Church Activities, Page 9)**
£58,411 ( _2020 - £54,105_ ) was spent to provide Christian Ministry from Church of Our Saviour. That sum includes a contribution of £21,779 ( _2020 - £21,894_ ) to the Diocesan Quota (Parish Share). Our contribution to the URC Ministry and Mission fund is also included within the
1
Diocesan Quota. The contribution goes largely towards providing for stipends, salaries, pensions and housing for the clergy.
## **Building Fund (Pages 8, 9)**
The Church raised £12,628 for the Building Fund during 2021 ( _2020 - £13,185_ ). The fund balance stood at £331,002 ( _2020 – £326,423_ ) at end 2021.
## **Running costs of the church (page 13)**
Expenditure for the shared running costs of the Church totalled £21,481 ( _2020 – £21,042_ ). Church rental income continued to be hit hard, because of the inability to rent the main Church, but the prospects for 2022 are much brighter. The result was a deficit of £17,534 ( _2020 - £17,754)_ to be shared 60% / 40% with the Catholic Community.
## **Reserves policy (page 7)**
In order to provide a contingency against unforeseen events, the Church aims to have reserves of 40% of previous year’s expenditure. Reserves (of £51,530) amount to 88% of expenditure.
## **Jeffrey Mushens**
## **Hon Treasurer**
## **21st March, 2022**
2
## **The Church Council of Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
## **(Charity Registration No. 1169685)**
This report on the Accounts of the Church Council for the year ended 31 December 2021, which are set out on pages 4 to 13 inclusive, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 and Section 145 of the Charities Act 2011.
As members of Church Council you are responsible for the preparation of the Accounts; you consider that the audit requirement of Regulation 3(3) of the Church Accounting Regulations 2006 and Section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to issue this report on those Accounts in accordance with the terms of the Church Accounting Regulations 2006 and the Charities (Accounts and Reports) Regulations 2008.
My examination was carried out in accordance with the General Directions given by the Charity Commission under Section 145(5)(b) of the Act and to be found in the guidance from the CBF. That examination includes a review of the accounting records kept by the PCC and a comparison of the Accounts with those records. It also includes considering any unusual items or disclosures in the Accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the Accounts.
## **Independent Examiner’s Statement**
In accordance with my examination, no matter has come to my attention, which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with Section 130 of the 2011 Act: and
- to prepare Accounts which accord with the accounting records and to comply with the requirements of the Act, as also contained in the Church Accounting Regulations 2006
have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the Accounts to be reached.
Riverside House David Belbin 1-5 Como Street Independent Examiner ROMFORD Clemence Hoar Cummings RM7 7DN Chartered Accountants 18th March, 2022
3
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
**(Charity Registration No. 1169685)**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021**
|notes
**INCOME AND ENDOWMENTS**
Voluntary Income
2a
Activities for Generating Funds
2b
Investment Income
2c
Increase/(Reduction) in Value of Fixed
Asset Investments
Income from Church Activities
2d
Other Income
2e
**TOTAL INCOME**
**EXPENDITURE**
Church Activities
3a
Church Extension/Annex Build Costs
Transfer to Fixed Assets
**TOTAL EXPENDITURE**
**NET INCOME/ (EXPENDITURE)**
Bought Forward
**BALANCES AT 31 DECEMBER 2021**|**Unrestricted**
**Funds**
£
51,188
11,281
1
1,161
5,978
69,608
58,411
58,411
11,197
40,333
51,530|**Restricted**
**Funds**
£
12,628
660
1,638
14,926
10,348
10,348
4,578
326,423
331,002|**TOTAL FUNDS**
**2021**
**2020**
£
£
63,816
58,957
11,281
7,577
661
602
1,638
(2,570)
1,161
3,094
5,978
43,619
84,534
111,280
68,759
81,100
21,416
(21,416)
68,759
81,100
15,776
30,180
366,756
336,576
382,532
366,756|**TOTAL FUNDS**
**2021**
**2020**
£
£
63,816
58,957
11,281
7,577
661
602
1,638
(2,570)
1,161
3,094
5,978
43,619
84,534
111,280
68,759
81,100
21,416
(21,416)
68,759
81,100
15,776
30,180
366,756
336,576
382,532
366,756|
|---|---|---|---|---|
|||||111,280|
|||||81,100
21,416
(21,416)|
|||||81,100|
|||||30,180
336,576|
|||||366,756|
4
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
## **(Charity Registration No. 1169685) BALANCE SHEET 31ST DECEMBER 2021**
|notes
**FIXED ASSETS**
Tangible Assets
4
Investment Assets
5
**CURRENT ASSETS**
Debtors
6
Cash at Bank and in hand
**CREDITORS**
falling due within one year
7
**NET ASSETS / (LIABILITIES)**
**FUNDS**
Unrestricted
9
Restricted
8
**TOTAL FUNDS**|**Unrestricted**
**Funds**
£
19,264
506
6,538
32,408
38,946
7,186
51,530
51,530
51,530|**Restricted**
**Funds**
£
308,603
13,881
583
8,489
9,071
554
331,002
331,002
331,002|**TOTAL FUNDS**
**2021**
**2020**
£
£
327,866
330,482
14,387
12,749
7,121
20,533
40,897
43,352
48,018
63,885
7,740
40,360
382,532
366,756
51,530
40,333
331,002
326,423
382,532
366,756|**TOTAL FUNDS**
**2021**
**2020**
£
£
327,866
330,482
14,387
12,749
7,121
20,533
40,897
43,352
48,018
63,885
7,740
40,360
382,532
366,756
51,530
40,333
331,002
326,423
382,532
366,756|
|---|---|---|---|---|
|||||63,885|
|||||40,360|
|||||366,756|
|||||40,333
326,423|
|||||366,756|
Approved by Church Council on 25th March, 2022
………………………………………….. Church Officer
………………………………………...... Church Officer
………………………………………….. Treasurer
5
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
**(Charity Registration No. 1169685)**
## **NOTES TO THE FINANCIAL STATEMENTS.**
For the year ended 31 December 2021
## **1. ACCOUNTING POLICIES.**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with United Kingdom Generally Accepted Accounting Practice (FRS 102), and the Charities Act 2011.
## **(a) Funds**
- General Funds represent funds of the Church Council that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Church. Funds designated by the Church Council for a particular purpose are also unrestricted.
- Restricted funds represent donations or fundraising income received for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.
- The accounts include all transactions, assets and liabilities for which the Church Council is responsible in law. They do not include the accounts of Church Groups that owe their affiliation to another body nor those that are informal gatherings of Church members.
## **(b) Income and Endowments**
All income and endowments are included in the statement of financial activities when the Church is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- Collections are recognised when received on behalf of the Church Council.
- Planned giving receivable under pledge is recognised only when received.
- Income Tax recoverable on gift aided collections is brought to account on an accruals basis.
- Funds raised by fete, garden party and similar events are accounted for net.
- Grants and legacies to the Church Council are accounted for as soon as the Church Council is notified of its legal entitlement and the amount receivable.
- Rental income from the letting of church premises is recognised when the rental is due.
- Interest and dividends are recognised when received.
## **(c) Expenditure**
- Expenses are charged against income in the period in which they are incurred.
- VAT incurred is included with the associated expenditure
- Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of running fundraising events.
6
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
**(Charity Registration No. 1169685)**
## **Notes to the Financial Statements**
## **For the year ended 31 December 2021**
- Church activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
- The costs of governance, which include those costs associated with meeting the constitutional and statutory requirements of the charity and include the Independent Examination fees and costs linked to the strategic management of the charity are included as support costs for our charitable activities.
- Known future material liabilities are provided for at the balance sheet date.
## **(d) Fixed Assets**
- Fixed assets are depreciated on a straight line basis at rates calculated to write the assets down to their residual value over the estimated useful life of the asset.
- Individual items with a purchase price of £350 or less are charged against income when the asset is acquired.
- Any proceeds on the disposal of the Portakabin are for the account of the Diocese and accordingly no value is included in the accounts for the Portakabin.
## **(e) Investments**
- Investments whether by way of loan or transferable security are valued at market value at the balance sheet date.
## **(f) Reserves**
- Church policy is to keep reserves at 40% of previous year’s expenses in order to provide a contingency fund against unforeseen events.
7
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
## **(Charity Registration No. 1169685) Notes to the Financial Statements For the year ended 31st December 2021**
|Note
**INCOME AND ENDOWMENTS**
**2a**
**Voluntary Income**
Planned Giving
Open Plate Collections
Donations
Tax recoverable on above
2b
**Activities for Generating Funds**
Fund Raising Events
Use of Church Hall
Use of Portakabin
2c
**Investment Income**
Interest/Distributions
(Decrease)/Increase in
Market Value of Fixed Asset
Investments
2d
**Income from Church Activities**
Fees
Miscellaneous Income
2e
**Other Income**
Income from insurance
**TOTAL INCOME**
**TOTAL EXPENDITURE**
Brought Forward
**Carried Forward**|**UNRESTRICTED**
**General**
**Fund**
**£**
29,681
1,584
10,196
9,727
51,188
3,947
7,334
11,281
1
481
680
1,161
5,978
69,608
58,411
11,197
40,333
51,530|**RESTRICTED**
**Building**
**Fund**
**£**
10,042
0
76
2,510
12,628
660
1,638
14,926
10,348
4,578
326,423
331,002|**TOTAL FUNDS**
**2021**
**2020**
**£**
**£**
39,723
39,908
1,584
2,310
10,272
4,859
12,237
11,881
63,816
58,957
0
3,947
3,288
7,334
4,289
11,281
7,577
661
602
1,638
(2,570)
481
44
680
3,050
1,161
3,094
5,978
43,619
84,534
111,280
68,759
81,100
15,776
30,180
366,756
336,576
382,532
366,756|**TOTAL FUNDS**
**2021**
**2020**
**£**
**£**
39,723
39,908
1,584
2,310
10,272
4,859
12,237
11,881
63,816
58,957
0
3,947
3,288
7,334
4,289
11,281
7,577
661
602
1,638
(2,570)
481
44
680
3,050
1,161
3,094
5,978
43,619
84,534
111,280
68,759
81,100
15,776
30,180
366,756
336,576
382,532
366,756|**TOTAL FUNDS**
**2021**
**2020**
**£**
**£**
39,723
39,908
1,584
2,310
10,272
4,859
12,237
11,881
63,816
58,957
0
3,947
3,288
7,334
4,289
11,281
7,577
661
602
1,638
(2,570)
481
44
680
3,050
1,161
3,094
5,978
43,619
84,534
111,280
68,759
81,100
15,776
30,180
366,756
336,576
382,532
366,756|
|---|---|---|---|---|---|
||||||58,957|
||||||0
3,288
4,289|
||||||7,577|
||||||602
(2,570)
44
3,050|
||||||3,094|
|||||43,619
111,280
81,100||
|||||30,180
336,576||
|||||366,756||
8
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
**(Charity Registration No. 1169685)**
## **Notes to the Financial Statements for the year ended 31st December 2021**
|Note
3
**EXPENDITURE**
3a
**Church Activities**
Missionary & Charitable Giving (note 11)
Ministry: - Parish Share
Team Ministry Expenses
Church Upkeep (note 13)
Upkeep of services
Bible Study & Teaching inc Youth Ministry
Building Fund Professional Fees etc.
Independent Examination
Depreciation
Church Vestibule and Fire Extras
**_Transfer to fixed assets_**
**TOTAL EXPENDITURE**|**UNRESTRICTED**
**General**
**Fund**
**£**
10,533
21,779
2,424
12,321
4,767
3,900
540
2,147
58,411
58,411|**RESTRICTED**
**Building**
**Fund**
**£**
10,348
10,348
10,438|**TOTAL FUNDS**
**2021**
**2020**
**£**
**£**
10,533
6,953
21,779
21,894
2,424
3,445
12,321
13,238
4,767
3,433
3,900
3,900
16,930
540
540
12,494
10,768
68,759
81,100
21,416
(21,416)
68,759
81,100|**TOTAL FUNDS**
**2021**
**2020**
**£**
**£**
10,533
6,953
21,779
21,894
2,424
3,445
12,321
13,238
4,767
3,433
3,900
3,900
16,930
540
540
12,494
10,768
68,759
81,100
21,416
(21,416)
68,759
81,100|
|---|---|---|---|---|
|||||81,100|
|||||21,416
(21,416)|
|||||81,100|
9
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
**(Charity Registration No. 1169685)**
## **Notes to the Financial Statements for the year ended 31st December 2021**
|4**TANGIBLE FIXED ASSETS**
Gross Book Value at 1 Jan 2021
Additions
Write back provisions
At 31 December 2021
**Depreciation**
At 1 Jan 2021
Charge for year
Disposals
At 31 December 2021
Net Book Value 1 Jan 2021
Net Book Value 31 Dec 2021|**Church**
£
14,266
13,878
28,145
6,735
2,147
8,881
7,732
19,264|**Building**
**Fund**
£
338,371
(4,000)
334,371
15,421
10,066
25,868
322,951
308,503|**Total**
£
352,637
13,878
(4,000)|
|---|---|---|---|
||||362,516|
||||22,155
12,594|
||||34,570|
||||330,482|
||||327,766|
## 5 **INVESTMENT ASSETS**
|**STMENT ASSETS**||
|---|---|
|Unlisted Investments - at Cost Traid Craft
Building Fund
Listed Investments - at Market Value
M&G Charifund Shares
I January 2021
Increase in Value
31 December 2021|£
506
12,243
1,638|
||13,881|
10
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
**(Charity Registration No. 1169685)**
|**Notes to the Financial Statements for the year ended 31st December 2021**
**2021**
£
6
**STAFF COSTS**
Wages and Salaries
3,900
Social Security Costs
3,900
The Church employed a part time Youth Worker.
7
**DEBTORS**
Income Tax Recoverable
3,946
Insurance Claim
URC share of expenses
1,786
Other Debtors
1,409
7,121
8
**Cash at Bank and in Hand**
Cash Held
General Fund
Cash held at Bank
General Fund
32,408
Cash held at Bank
Building Fund
8,489
40,897
9
**CREDITORS**
Missionary Giving
General Fund
5,235
Amount due to Catholic Community
General Fund
Accrued Expenses
General Fund
1,950
Prepaid Income re
Insurance
General Fund
Accrued Expenses
Building Fund
554
Building Contract
Outstanding
Building Fund
7,740|**Notes to the Financial Statements for the year ended 31st December 2021**
**2021**
£
6
**STAFF COSTS**
Wages and Salaries
3,900
Social Security Costs
3,900
The Church employed a part time Youth Worker.
7
**DEBTORS**
Income Tax Recoverable
3,946
Insurance Claim
URC share of expenses
1,786
Other Debtors
1,409
7,121
8
**Cash at Bank and in Hand**
Cash Held
General Fund
Cash held at Bank
General Fund
32,408
Cash held at Bank
Building Fund
8,489
40,897
9
**CREDITORS**
Missionary Giving
General Fund
5,235
Amount due to Catholic Community
General Fund
Accrued Expenses
General Fund
1,950
Prepaid Income re
Insurance
General Fund
Accrued Expenses
Building Fund
554
Building Contract
Outstanding
Building Fund
7,740|**2020**
£
3,900|
|---|---|---|
|||3,900|
|||3,452
12,000
4,692
409|
||7,121|20,533|
||32,408
8,489
40,897
5,235
1,950
554
7,740|206
38,212
4,934|
|||43,352|
|||4,925
3,857
3,254
5,978
1.188
21,158|
|||40,360|
10 **RESTRICTED FUNDS**
The Building Fund was set up with the intention of extending the Church.
Repairs, improvements and refurbishments to the church following the fire in 2018 have been funded through the Restricted Fund, net of associated insurance claim monies during 2019 and 2020.
11
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
## **(Charity Registration No. 1169685)**
## **Notes to the Financial Statements for the year ended 31st December 2021**
## **11 MISSIONARY and other GRANTS**
The amount set aside in this year's accounts and included in creditors is £5,235 ( _2020 - £4,925_
|Payments in the year (net of direct contributions from members) comprised the|Payments in the year (net of direct contributions from members) comprised the|Payments in the year (net of direct contributions from members) comprised the|Payments in the year (net of direct contributions from members) comprised the|following:-|following:-||
|---|---|---|---|---|---|---|
||**Overseas**|**Overseas**|**Home**||**Total**||
||**Mission**|**Relief**|**Societies**||||
||**£**|**£**|**£**||**£**||
|Monies Set Aside from 2020|||||||
|Bethany Childrens Trust||300||||300|
|Christians Against Poverty||||579||579|
|Mission Aviation Fellowship|581|||||581|
|Prison Fellowship||||158||158|
|Open Doors UK||||400||400|
|Romans 1-11 Trust||||400||400|
|Chelmsford Food Bank||||400||400|
|CHESS||||479||479|
|Christian Aid||||400||400|
|Fellowship Afloat/FACT|||200|||200|
|SYM/Made for More||||200||200|
|The Children’s Society||||300||300|
|Society of St Vincent de Paul||||528||528|
||581|300|4,360||4,925||
|Additional Giving in Year|||||||
|Other giving|209||1,510||1,719||
|Little Pantry/Picnic
Bags/Christmas Bags|||3,579||3,579||
||790|300|9,133||10,233||
The amount shown in the accounts is £10,533. This comprises the amounts shown above less the amount provided in 2020 (£4,925) plus the provision of £5,235 in this year’s accounts. The additional giving includes £100 for English for Women, £360 for CADEF, £1,000 for CAP, £209 for TearFund and £50 for URC.
## **12 PAYMENTS TO TRUSTEES and RELATED PARTIES**
Rev. Andy Brown, Rev. Mandy Hewson and Maria Lee (URC CRCW) received reimbursement of expenses (see 3a). During the year £3,900 was paid to Claire Musselwhite for services as our youth worker. ( _2020 - £3,900_ ). aClaire was in post when the parish became an independent charity.
12
## **Church of Our Saviour, East Springfield Chelmer Village, Chelmsford, Essex.**
**(Charity Registration No. 1169685)**
## **Notes to the Financial Statements for the year ended 31st December 2021**
## **13 RUNNING COSTS OF CHURCH BUILDING SHARED WITH THE CATHOLIC COMMUNITY**
|Church Rents Received (included in income)
Less
Heat and Light
Cleaning
Water
Upkeep and Repairs
Letting Management
Insurance
Running Costs of Church
Shared Depreciation (included in charge for year)
(Deficit)/Surplus of Income over Expenditure
Amount due to/(from) Catholic Community
(Deficit)/Surplus to Anglican and Free Church Community
Running Costs per accounts
Total Running Costs
(Deficit)/Surplus payable (from)/to Catholic
Community|**2021**
3,947
7,690
3,738
924
5,597
1,388
19,334
2,147
21,481
(17,534)
(7,014)
(10,520)
19,334
(7,014)
12,321|**2020**
3,288
5,806
5,324
3,137
4,461
256
1,355|
|---|---|---|
|||20,339
702|
|||21,042|
|||(17,754)
(7,101)
(10,652)
20,340
(7,101)|
|||13,238|
13