REGISTERED CHARITY NUMBER: 1175236
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
North Buckingham Parish PCC
Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
North Buckingham Parish PCC
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 9 |
| Detailed Statement of Financial Activities | 10 |
North Buckingham Parish PCC
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1175236
Principal address
Rosemount Wicken Road Leckhampstead Buckingham Buckinghamshire MK18 5NZ
Trustees
Mrs Z Jones A J White Revd H Taling Mrs E Stott Mrs G Christopher Mrs C Cowley J Cowley W Truscott Mrs M Culley A Talbot Rice Mrs C Hockley J Hockley Mrs B King I Smith Mrs M Harrison
Independent Examiner
Declan Connolly FCCA Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
Approved by order of the board of trustees on ......26 April 2022....................................... and signed on its behalf by:
...................................................................... Hans Taling
Trustee
1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH BUCKINGHAM PARISH PCC
Independent examiner's report to the trustees of North Buckingham Parish PCC
I report to the charity trustees on my examination of the accounts of North Buckingham Parish PCC (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Declan Connolly
Declan Connolly FCCA Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
Date: .......26 April 2022......................................
2
North Buckingham Parish PCC
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 87,837 Other trading activities 2 3,363 Investment income 3 5,996 Total 97,196 EXPENDITURE ON Raising funds 4 58,987 Other 27,844 Total 86,831 NET INCOME 10,365 RECONCILIATION OF FUNDS Total funds brought forward 110,411 TOTAL FUNDS CARRIED FORWARD 120,776 |
Restricted fund £ - 295 - 295 - - - 295 192,691 192,986 |
2021 Total funds £ 87,837 3,658 5,996 97,491 58,987 27,844 86,831 10,660 303,102 313,762 |
2020 Total funds £ 90,011 2,161 6,893 99,065 64,815 26,610 91,425 7,640 295,462 303,102 |
|---|---|---|---|
The notes form part of these financial statements
3
North Buckingham Parish PCC
BALANCE SHEET 31 DECEMBER 2021
| Unrestricted fund Notes £ FIXED ASSETS Investment property 7 - CURRENT ASSETS Investments 8 15,384 Cash at bank 104,976 120,360 NET CURRENT ASSETS 120,360 TOTAL ASSETS LESS CURRENT LIABILITIES 120,360 NET ASSETS 120,360 FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 140,000 9,252 44,150 53,402 53,402 193,402 193,402 |
2021 Total funds £ 140,000 24,636 149,126 173,762 173,762 313,762 313,762 120,776 192,986 313,762 |
2020 Total funds £ 140,000 24,636 138,466 163,102 163,102 303,102 303,102 110,411 192,691 303,102 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
4
North Buckingham Parish PCC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Fundraising events | 3,658 | 2,161 | |
| 3. | INVESTMENT INCOME | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Cottage Income | 5,578 | 6,276 | |
| Interest income | 418 | 617 | |
| 5,996 | 6,893 |
continued...
5
North Buckingham Parish PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
4. RAISING FUNDS
Investment management costs
These cost are for Major Works to the Church building.
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
6.
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 82,011 Other trading activities 2,161 Investment income 6,893 Total 91,065 EXPENDITURE ON Raising funds 64,815 Other 26,610 Total 91,425 NET INCOME/(EXPENDITURE) (360) RECONCILIATION OF FUNDS Total funds brought forward 110,771 TOTAL FUNDS CARRIED FORWARD 110,411 |
Restricted fund £ 8,000 - - 8,000 - - - 8,000 184,691 192,691 |
Total funds £ 90,011 2,161 6,893 99,065 64,815 26,610 91,425 7,640 295,462 303,102 |
|---|---|---|
continued...
6
North Buckingham Parish PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
7. INVESTMENT PROPERTY
| FAIR VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 8. CURRENT ASSET INVESTMENTS Unlisted investments Other 9. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds RESTRICTED fUND TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds RESTRICTED fUND TOTAL FUNDS |
At 1.1.21 £ 110,411 192,691 303,102 Incoming resources £ 97,196 295 97,491 |
2021 £ 21,824 2,812 24,636 Net movement in funds £ 10,365 295 10,660 Resources expended £ (86,831) - (86,831) |
||
|---|---|---|---|---|
continued...
7
North Buckingham Parish PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.20 £ Unrestricted funds General fund 110,771 Restricted funds RESTRICTED fUND 184,691 TOTAL FUNDS 295,462 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 91,065 Restricted funds RESTRICTED fUND 8,000 TOTAL FUNDS 99,065 |
Net movement At in funds 31.12.20 £ £ (360) 110,411 8,000 192,691 7,640 303,102 Resources Movement expended in funds £ £ (91,425) (360) - 8,000 (91,425) 7,640 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds RESTRICTED fUND TOTAL FUNDS |
At 1.1.20 £ 110,771 184,691 295,462 |
Net movement in funds £ 10,005 8,295 18,300 |
At 31.12.21 £ 120,776 192,986 313,762 |
|---|---|---|---|
continued...
8
North Buckingham Parish PCC
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
as follows: |
|||
|---|---|---|---|
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 188,261 | (178,256) | 10,005 |
| Restricted funds | |||
| RESTRICTED fUND | 8,295 | - | 8,295 |
| TOTAL FUNDS | 196,556 | (178,256) | 18,300 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
9
North Buckingham Parish PCC
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Planned Giving | 37,995 | 38,725 |
| Parochial fees | 4,343 | 4,391 |
| Gift aid | 12,636 | 19,511 |
| Legacies | 10,025 | 12,449 |
| Collection Plate | 15,644 | 5,421 |
| All other giving | 3,730 | 490 |
| Magazine income | 614 | 304 |
| Donations for grass cutting etc | 2,850 | 8,720 |
| 87,837 | 90,011 | |
| Other trading activities | ||
| Fundraising events | 3,658 | 2,161 |
| Investment income | ||
| Cottage Income | 5,578 | 6,276 |
| Interest income | 418 | 617 |
| 5,996 | 6,893 | |
| Total incoming resources | 97,491 | 99,065 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Diocesan Parish Share | 54,312 | 55,706 |
| Investment management costs | ||
| Major repairs | 4,675 | 9,109 |
| Support costs | ||
| Other | ||
| Parish Admin & Telephone | 1,726 | 3,371 |
| Church running expenses | 24,061 | 19,465 |
| Sundries | 1,705 | (193) |
| Charitable giving | 352 | 3,967 |
| 27,844 | 26,610 | |
| Total resources expended | 86,831 | 91,425 |
| Net income | 10,660 | 7,640 |
This page does not form part of the statutory financial statements
10