## **Parochial Church Council of Kingswood (A Registered Charity Number 1172427 from 15th April 2017) Accounts for the Year Ended 31st December 2022 INDEX** ## **Page** - (i) Treasurer’s Report (ii) The Independent Examiner’s Report 1 Statement of Financial Activities 2 Balance Sheet 3 Accounting Policies and Description of Funds 4 Incoming Resources - Current Year 5 Resources Expended - Current Year 6 Legacy, St Andrews Survival & Wisdom Centenary Funds 7 Church Hall and Church Hall Fund Raising 8 & 9 Revenue Reserve, Fixed Assets and Investment Fund Pag• I Klngswood PCC-Treasuror* Roport wa8 ry ffiT61ye•raB Treaiurer of ￿ng$WoOd PCC and Itwa8 an •v•nthil on• ln teTh8 ol the FInan￿& One ofthe major gxpgnw$ In 2022 wol Iho unoXPOCtod rnpalr needed to theA￿e olthe W8dom o1¢3od whith tothll•d É17.294. W• ar• In th• propam ofobtalnlnq a VAT dalm for th18work frorn HMRG. A I￿• amountof •pent daaliroj ￿1h the renw•l ol the Enwgy corbtro¢ts IOT both Churthel tn thttr 2022. Thg ngw o)ntrnd8 rn8utt•d In 10 lohl Ine¥819• In th• Unlt charg•8 lor Ga8 ov•r 4 fo&J for Eleclriclty Chargw. Enèrgy r8•trtctl¢n pro￿￿#4 wm Implèm•nt•d In both Church•s ov•r lh• Wnt•r months and w• ￿re vory fortun8te to obtaln 4 Grnnl from for £1,000 loward8 thege oddlttorwl ¢o•16. Tho wllgd ¢onlracts wore for e monlh• and Ih•y or• currnnlty b•ln9 rene*•d 89•ln ot • muth luwer Unlt Churg•. Vl• th•ng¢d tho bank account lor Ih PCC to Motrobank In the year￿1¢￿ hA• ¥drnlnhtr¥ikn WHI p•ym•nl• muth •a•t•r Int•m•t BAnklno. Alowid• • thange lo ourbmk. ￿ haw nowloln•d the P•rknh Glthq Scheme IPGSI al￿ all donor• al tho Church have been wdtten to wllh det4111 ol how to laln th• PGS. Th• m•mb•rn of th• PCC adoptsd th1• chorwg And •r• now don•lln9 vra Ihg PGS. (l•spll• lh8 laffj• Incr•u•i In costs m•nUon•d Abov•, th• ov•rnll th• y•ar In UnMtdfAed Advltt•• w•• £6,e0212C21- £9S9 ourplu•l. Regul•r don¥tton8 ¥nd ￿lleCtIOn• In the tot•llgd £30.57812021 . £28,322) alth¢￿kn Incr•M• was d￿tOrt•d by the ehur¢h do•um In 2021 In lockd¢)wn. Tho gu￿lu# trom Chur¢h H•ll In Ihe y04r w¥8 £3.43712021- £375 dofidll whlc* ts • r•fl•¢tlon of lh• IrK¥e••e In booklng1 ol th• lollowlng th• •nd ol lockdown. Th• •xp•na• ca)nt4nuM lo bg the •nnuHI Pledgg lo th• Dbx•w whlth w• hw• k•pt •t £49.000. IN• Ind•bt•d to Rob•rt Clulth for h18 ro&• Ms 1ndl￿ndant Ex•mln•r. Aho to Colh M￿• for ffl•lntalnlng the duy k¥ dly Churth Hau fln•nthl rncwd& Gllll•n Fr•nth Independent Examinerfs Report to the and b￿ree% ofthe Parothkl thuyth C(wndl I report on the accountsforthe year erthd 31st Decembw 2022 which ale set out on pages I to 9 The charlty's trustees conslderthat an audk is rt)t required forthe year undersecuon 144121 of the Charltfes Act 2011 (the 2011 Artl and th* an Independent examlnatfon is need￿. It is my reSp￿IbIlIty to.. Examlne ihe zc£ounts under sectlon 145 ot the 2011 Art: Follow the procedures lald down in the Genffil DIreC￿On$S￿n bythe Charlty Commlssloners under Sect5on 145ISllbl ofthe 2011 A¢" and Stats v&thether partlcular matters CO￿ to attenllon. 81£15 of Indèpendert EMmln•rfJStai*rn My examinadon carthd out In accordante with the Genernl DIrt¢Y￿S 8fven by the Charlty Commlsslon. An examinatlon Indudes a rÈvlewofthè account1￿ records k•pt ￿the thartty and a tt>mpartson of the accounts wlth those records. It also inc1￿je$ the consideTrdon of any unusual Items ￿ d1stl0su￿S In the atcounts and seekin8 explanat5ons from the management commlttee cfjrtcernln8 any such matter5. The procedures undertak*n do not provlde all the evldencethat would be requlred In a full audlL and consequently I do not express an audft o￿n￿￿ on the acC￿Trts. Indewnd•nt Ex•mlMVs St•t•m*rt In connettFon wSth thè examIna￿On, no matter5 hw4e come to nry at*rtion: 11 Whlch 8fv¢s me reasonable ¢ause to belkne that In any matertal re4>ert thè requirements to keep accountin8 records In accordance wlth section 130 of the 2011 Act orto prepare attounts which accord wlth those account5ng records and comWy wlth the reBulailons ha¥e not been or 21 To whlch, In my oplnlon. attentlon should be drnwn In orderto enable a proper understsndin8 ofthe accountsto be ￿athed. Robert Caulkln 2￿ March 2023 Smart Accountants Sussex and Surrey 71 Walton Stieet Walton on the Hlll Surrey r20 7RZ ## **Page 1** ## **Kingswood PCC** ## **Statement of Financial Activities for the Year ended 31st December 2022** |**INCOMING RESOURCES**
Donations Received
Other voluntary income
Generating Funds & Investments
Church activities
Church Hall
Sale of investments
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Donations made
Church activities
Cost of generating funds
Church Hall
**RESOURCES EXPENDED**
**FUND BALANCES**
NET FUND INCREASE(DECREASE)
Gains/(losses) on investment
**NET MOVEMENT IN FUNDS**
**BALANCES BROUGHT FORWARD AS AT 01/01/22**
**BALANCES CARRIED FORWARD AS AT 31/12/22**|**Unrestricted**
**Restricted**
**Endowment**
**2022**
**2021**
**Note**
**£**
**£**
2a
66,841
66,841
55,794
2b
1,377
1,377
1,419
2c, 4,5,6
27,467
1,202
28,669
22,028
2d
4,604
4,604
5,607
7&8
0
13,659
13,659
6,631
10b
0
0
0
100,289
14,861
0
115,150
91,479
3a
879
879
1,808
3b
102,678
102,678
81,083
3c
3,534
3,534
998
7.8
10,222
10,222
6,988
107,091
10,222
117,313
90,877
9
-6,802
4,639
-2,163
602
10b
-29,614
-29,614
31,706
-6,802
4,639
-29,614
**-31,777**
32,308
34,189
81,505
209,408
**325,101**
292,793
27,387
86,144
179,794
**293,324**
325,101
**Total**| |---|---| GSWOOO PCC BALANCE SHEET at31st Ducvrnber￿22 FIXED A88ET Not• 2P22 2021 Flxod Asmts 10a 10b $59.409 Y21.957 e81J66 659.409 251.572 010,981 Ci1RRENT A83ET$ Shortiwrn 1,033 Cernenary PCC. Mebobèr 7.130 28.095 9.812 17.634 14.Q12 20515 6,087 PCGTSB F￿Nab￿8$1 HI14a￿lay8 Churth H*kSanwder 31294 6.526 s￿75 2S.516 96.450 78,091 1.885 79.976 Debtors Accru￿ IncoN IGIftAld Tax r•t¢*v4rablJl TOTAL CURRENT AS8ET8 6S182 LWBimES A£¢ru* Churthyard Cos Mairtenan¢È 16.6 4.Y1 458 1,144 3,505 He8L Liohl& Wa Athinis1I8bun Co¥18 Rafftè Priz* Fund Wisthm Ston& Fur 3.DBS exe Fund (kyaD hfjaini8nan ChJrch Hdl G￿￿e￿nI 252 747 26.028 71.354 6.448 73.528 NET CURRENT ASSETS NEY ASSEts 984.509 FUNDS Unrew*kd .236 71.726 184.758 693.$97 B1.504 209.408 984.309 RestrKted Inc4LKlir* ChL*chHs11 Endowmènt Approyodty th• P¢C otKiwwood on 2nd ltsy2W43 Cthurchward **Page 3** ## **Kingswood PCC** ## **Notes to the Financial Statements for the Year Ended 31st December 2022** ## **Accounting Policies and Funds** These financial statements have been prepared on an accruals basis and in accordance with the recommendations of the Church Accounting Regulations 2006 and the Charities current Statement of Recommended Practice. From 2009, following the assessment of Diocesan Quota for the Parish as a whole, the accounts are presented in unified form and not allocated to the individual churches. Fixed Assets — The Church Hall and Church House are shown at estimated values in line with previous years’ figures; the PCC has adopted a policy of non-depreciation of these assets on the basis that their residual value is higher than the deemed cost values shown in these accounts. It is not required to revalue these assets. Any funds raised, or donated, for designated purposes are treated as “Restricted Funds" Payment to a Trustee — during the year payments amounting to £400 were made to Frank Foxen, a Trustee, as agreed reduced fees for his duties as appointed Organist at churches within the parish. The Funds managed are: ## 1.Capital Funds - These are A. St Andrew's Trusts consisting of six donations towards the upkeep of graves. The corresponding Investments are held in shares with the Central Board of Finance (CBF). B. Wisdom of God Trusts consisting of a series of donations towards the church upkeep; the Corresponding investments are held via the South London Church Fund and the Southwark Diocesan Board of Finance in shares with the CBF. ## 2. Unrestricted Funds — These are the normal operating funds of the two churches: C1- Shows current year's income and expenditure. E Revenue Reserve, shows the net funds after transfer of the surplus or deficit from C1 above. ## 3. Restricted Funds C2- operates in conjunction with C1 but relates to special purposes; this designation covers special appeals, works and maintenance and the Organ Fund. Other balances of Income and Expenditure on these items are subsequently transferred to the appropriate major Fund: - F- Legacy set up in 2004 with Lowe Legacy funds of £50000 for Fabric expenses of both churches. - G - St Andrew's Survival derived from a special appeal for major fabric projects to which subsequent Appeal and legacy proceeds have been added. - H - Wisdom of God Centenary — operated in a similar way to the Survival fund above. - I - Church Hall & L— Church Hall Fund Raising - are held as separate Funds, responsibility having been delegated by the PCC. - M - Kingswood Global Income was set up in 2011 to improve income devoted to the Legacy Fund. - N - Wisdom Income Fund was set up in March 2011 to improve income devoted to the Centenary Fund. **Page 4** ## **Kingswood PCC** ## **Notes to the Financial Statements for the Year ended 31 December 2022** ## **Note-2 INCOMING RESOURCES** |**2(a) Incoming Resources from donors:**
Regular Gift Aid
Occasional Gift Aid
Collections
Donations - Non-recurring (Woodfuffe and Brash Funds)
Gift Aid -Tax Recovered
Churchyard grants
Online Equipment Grant
**2(b) Other voluntary incoming sources:**
Special Appeals
**2(c) Income from generating funds and Investments**
Fund Raising
Interest on Investments
Rent received
**2(d) Income from Church activities**
Wedding Fees
Funeral/Churchyard Fees
Magazine
**TOTAL INCOMING RESOURCES**|**Unrestricted**
**Restricted**
**2022**
**2021**
**Fund C1**
**Fund C2**
£
£
£
£
20,068
20,068
22,044
1,848
1,848
3,015
8,662
8,662
3,263
24,703
24,703
14,972
7,025
7,025
6,965
4,535
4,535
4,535
0
0
1,000
66,841
66,841
55,794
1,377
1,377
1,419
5,768
5,768
790
5,499
1,202
6,701
6,388
16,200
16,200
14,850
27,467
1,202
28,669
22,028
1,652
1,652
593
2,952
2,952
4,413
0
0
600
4,604
0
4,604
5,606
**100,289**
**1,202**
**101,491**
**84,847**
**TOTAL FUNDS**| |---|---| **Page 5** ## **Kingswood PCC** ## **Notes to the Financial Statements for the Year ended 31 December 2022** |**3. RESOURCES EXPENDED**
**3(a) Donations Made**
Foodbank/Disability Challenge
Bishop's Lent Call
Ukranian Appeal
Shoebox Appeal/St Bedes
British Legion
Renewed Hope Trust
Crossroards Care
**3(b) Church Activities**
Parish Pledge
Honoraria-Organists
Clergy Expenses
Diocese Fees
Insurances
Administration Expenses
Sanctuary
Churchyards
Sundry Expenses
Heat, Light & Water
Buildings Maintenance
Repair Work to Apse - Wisdom of God
Quinquennial Inspection Fees
Organ maintenance
**3(c) Costs of generating funds**
Church House
Magazine
**RESOURCES EXPENDED**|Unrestricted
Restricted
**2022**
**2021**
Fund C1
Fund C2
£
£
£
£
25
25
625
0
0
550
212
212
0
50
50
200
225
225
148
191
191
125
176
176
160
879
879
1,808
49,000
49,000
49,000
1,800
1,800
470
1,120
1,120
1,096
1,080
1,080
2,140
4,379
4,379
7,000
4,854
4,854
4,226
768
768
370
5,754
5,754
6,396
2,353
2,353
1,691
3,553
3,553
3,068
7,051
7,051
5,374
17,294
17,294
0
2,790
2,790
0
882
882
252
102,678
0
102,678
81,083
3,486
3,486
998
48
48
0
3,534
0
3,534
998
107,091
0
107,091
83,889
**TOTAL FUNDS**| |---|---| **Page 6** ## **Kingswood PCC** ## **Notes to the Financial Statements for the Year ended 31 December 2022** |**Note 4**
**Fund F - Legacy Fund (Restricted Fund)**
INCOMING RESOURCES
Net income from: Investment Legacy Fund interest
Kingswood Global Investment Fund interest
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Transfer to Restricted Fund C2
TOTAL RESOURCES EXPENDED
SURPLUS (DEFICIT)
Balance brought forward 01/01/22
Balance carried forward 31/12/22
**Note 5**
**Fund G - St Andrew Survival Fund (Restricted Fund)**
INCOMING RESOURCES
Net Income from Investment Survival Fund interest
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Transfer to Restricted Fund C2
TOTAL RESOURCES EXPENDED
SURPLUS(DEFICIT)
Balance brought forward 01/01/22
Balance carried forward 31/12/22
**Note 6**
**Fund H - Wisdom of God Centenary Fund (Restricted Fund)**
INCOMING RESOURCES
Net Income from Investment Centenary Fund interest
Income from from Wisdom Investment Fund interest
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Transfer to Restricted Fund C2
TOTAL RESOURCES EXPENDED
SURPLUS(DEFICIT)
Balance brought forward 01/01/21
Balance carried forward 31/12/21
**Net Incoming Resources in 2021**|**2022**
**2021**
**£**
**£**
159
142
0
0
159
142
0
0
0
0
159
142
1,033
891
1,192
1,033
**2022**
**2021**
**£**
**£**
0
0
0
0
0
0
0
0
0
0
60
60
60
60
**2022**
**2021**
**£**
**£**
1,043
927
0
0
1,043
927
0
0
0
0
1,043
927
6,087
5,160
7,130
6,087
**1,202**
**1,069**| |---|---| **Page 7** ## **Kingswood PCC** ## **Notes to the Financial Statements for the Year ended 31 December 2022** |**Note 7**
**Fund I - Church Hall (Restricted Fund)**
INCOMING RESOURCES
Net Fees & Donations
Grants
RESOURCES EXPENDED
Water, Light and Heating
Insurances
Repairs and Minor Works
Cleaning and Grounds
Sundries
**Surplus/(Shortfall)**
**Note 8**
**Fund L - Church Hall Fund Raising (Restricted) 2001**
INCOMING RESOURCES
Interest
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
SURPLUS (DEFICIT)
Funds transfer to Current Account
Balance brought forward as at 01/01/22
Balance carried forward 31/12/22
**Current Account Balances 31/12/2022**|**2022**
**2021**
**£**
**£**
13,659
5,614
0
1,000
13,659
6,614
3,673
1,640
1,643
1,568
2,372
1,265
2,183
2,241
351
275
10,222
6,989
**3,437**
**-375**
**2022**
**2021**
**£**
**£**
0
17
0
17
0
0
0
17
-5,000
0
25,515
25,498
20,515
25,515
**14,012**
**5,575**| |---|---| **Page 8** ## **Kingswood PCC** ## **Notes to the Financial Statements for the Year ended 31 December 2022** |**Note 9**
**Fund E - Revenue Reserve (Unrestricted Fund)**
**INCOMING RESOURCES**
Transfer of Net Surplus(loss) to Fund C1
Balance Brought Forward as at 01/01/22
Balance Carried Forward as at 31/12/22
**Note 10**
**Fixed Assets for Use by the Parochial Church Council**
**10(a) Tangible Fixed Assets**
Deemed Cost Brought Forward as at 01/01/22
Revaluation
Net Values Carried Forward as at 31/12/22
Insured Values at 31/12/22
**10(b) Investment Fixed Assets - detailed on page 9**
**Fund A - St Andrew's Trusts (Capital Fund)**
Market Values as at 01/01/22
Movements in the year
Market Values as at 31/12/22
**Fund B - Wisdom of God Trusts (Capital Fund)**
Market Values as at 01/01/22
Movements in the year
Market Values as at 31/12/22
**Fund M - Kingswood Global Income Fund**
Market Value as at 01/01/22
Movements in the year
Market Value as at 31/12/22
**Fund N - Wisdom Income Fund**
Market Value as at 01/01/22
Movements in the year
Market Value as at 31/12/22
**Overall Market Values 31/12/22**
Increase(Decrease) in Value in 2022|**2022**
**2021**
**£**
**£**
-111
-375
34,299
34,674
34,188
34,299
**Church Hall Church House**
**Total**
**£**
**£**
**£**
416,121
243,288
659,409
0
0
0
416,121
243,288
659,409
**655,922**
**444,890**
**Units**
**2022**
**2021**
**£**
**£**
**503.83**
11,783
10,302
-1,381
1,481
10,402
11,783
**8445.09**
197,503
172,674
-23,147
24,829
174,356
197,503
**1933.86**
5,919
5,095
-826
824
5,093
5,919
**1555.05**
36,367
31,796
-4,261
4,571
32,106
36,367
**221,958**
**251,572**
-29,614
31,705
**Unit Value 31/12/22**
**20.6459**
Unit Value 31/12/21
23.3867| |---|---| **Page 9** ## **Kingswood PCC** ## **Notes to the Financial Statements for the Year ended 31 December 2022** ## **Note 10(b) Investments Fixed Assets** |**Note 10(b) Investments Fixed Assets**||||| |---|---|---|---|---| |The Kingswood PCC holdings are:|**Cost**|**Total**|**Market Value**|| |||**2022**|**31/12/2022**|| |**Central Board of Finance**|**£**|**£**|**£**|| |Shares
**St Andrews - relating to Fund A**||||| |422.00
A E Oddy Legacy|300|||| |16.00
Allom Grave Endowment|200|||| |{ Varney|50|||| |55.00 { Wilkinson|50|||| |{ Bonsor|257|||| |10.83
Taunton|104|961||| |503.83
**Market Value**|||**10,402**|| |**Wisdom of God - relating to Fund B**
**(held via South London Church Fund & Southwark Diocesan Board of Finance)**
4,957.29
Endowment account 459
6,054
1,582.80
Endowment account 493
2,871
1,905.00
Endowment account 621
2,425||11,350|102,348
32,678
39,330|| |8,445.09
**Market Value**|||**174,356**|| |**St.Andrew's - relating to Fund M**
1933.86
Global Income Investment Fund
**Market Value**||2,000|**39,926**|| |**Wisdom of God - relating to Fund N**
1555.05
Wisdom of God Income Investment Fund
**Market Value**||17,000|**32,105**|| |**Movements in Market Values**
Fund A endowment
Fund B endowment
Fund M restricted
Fund N restricted|**Cost**
**Value**
**£**
**£**
961
11,783
11,350
197,503
2,000
5,919
17,000
36,367
**31/12/2021**||**Value**
**Increase**
**£**
**£**
10,402
-1,381
174,356
-23,147
5,093
-826
32,106
-4,261
**31/12/2022**|| ||**31,311**|**251,571**|**221,957**|**-29,614**| |**Note 11 Analysis of Net Assets by Fund 31/12/22**
Investment Fixed Assets
Tangible Fixed Assets
Current Assets
Current Liabilities|**Unrestricted**
**£**
0
659,409
63,755
-26,928|**Restricted**
**£**
37,199
0
34,527
0|**Endowment**
**£**
184,758
0
0
0|**Total 2022**
**£**
221,957
659,409
98,282
-26,928| |**Fund Balance**|**696,236**|**71,726**|**184,758**|**952,720**|