?. Treasurer’s Report Year ending Dec 2022
Sarah Rossouw
General Fund
Receipts - £102,172.50
Receipts to the General Fund were around £3k lower than last year. Generally, our receipts of planned giving and collections was down by £10,000. We received £8,732 in grants. This included £5,000 from the Church and Causeway charity towards the loan repayment to CHCT and £1200 in electricity grants from the Dioceses. Fees were down slightly on last year but rent for the use of the church and hall was up by over £6,000.
Payments - £121,385.83
This was slightly lower than last year’s total of £124,600. Significant expenses included the cost of repairs to the facias and paintwork on the outside of the hall, a loan repayment of £5,000 to the Cambridge Historic Churches Trust (for the repairs to the church tower) and salaries of approximately £5,900. The ministry share of £67,909 was paid in full.
Hall Fund
The hall generated £11,959 in income last year, which was 61% up on last year. While bookings are encouraging, the hall is not booked to capacity and we have more competition in the village now with the new village hall.
Organ Fund – restricted - £50,602
This was a specific donation, invested in the CBF Fund until 2019 and since then in the COIF Fund. The Fund earned £1,400 in dividends in 2022. The market value of the investment at 31.12.2021 was £57,260.11.
BALANCE SHEET
Investment, valued at cost price - £210k (General Fund) & £40k (Organ Fund)
Most of this investment represents the money that was realized on the sale of the house left to us by Marian Bicheno. It now also includes the organ fund. The total dividend in 2022 was £9,544. The market value of the investment on 31.12.22 was just under £319,657.
Cash at bank
The total is £32,421. At the end of 2021, the cash at bank was in the £50 000 and at the end of the year before, it was approximately £68 000.
Other monetary assets
Most of our 2022 Gift Aid has been claimed through the Parish Giving Scheme. We have some gift aid to claim for the receipts that have not come through the Parish Giving Scheme, which Graham and I will do in the next few weeks.
Liabilities
We owe £4,966 in assigned fees to the diocese. The other liabilities are owed to vergers, bell ringers and the organist, all of which have been paid.
IN SUMMARY
It is truly wonderful to see so many activities return to normal 3 years after the Covid Pandemic struck. We as a church have come through and we are still here, stronger than ever. But, and it is a big but, we still spent more than we received. The deficit at the end of 2022 was just short of £20 000. The year before it was much the same and year before that was close to £30 000. That means in 3 years we have reduced our resources by a total of £70 000.
Our ministry share, the annual sum that we pay to the Dioceses, was £68,000 in 2022. This money is used in part to provide us with our parish vicar, as well as training future vicars and contributes toward central support. In 2023, it goes up to over £70 000.
I know. You are looking at the financial information and saying but we have this sizable investment that can support us. If we continue as we are, that sizable investment will no longer be there in 15 years, probably less due to inflation. We are really lucky, because we do have this safety net. But it’s a safety net that allows us to feel secure should anything major happen to the church buildings or we
are needed to step up in some other unforeseen way. No one with sound financial planning sense would consider dipping into capital to fund day to day living. But that is what we will probably have to do this year to meet our responsibilities and to keep the church running as we would like to have it run.
We at All Saints give generously, of our time and from our own personal resources. We are all feeling the pinch of the cost of living right now. But I urge you to meditate and pray on your planned giving to the church, and if you feel called to, give just a little more. Every penny counts.
Staff Costs
The hall has been managed on a voluntary basis. The hall manager has received a small financial gift as an expression of our gratitude to him for the long hours of voluntary work involved. However, he is stepping down at the end of March and we most sincerely thank him for all his hard work. We are fortunate now to have the services of a Parish Administrator on a part-time basis. From 1[st] April, the parish administrator will take on the role of hall manager and his salary will be adjusted accordingly to recognize the extra duties. The PCC also continues to employ a cleaner for the hall. Aside from clergy expenses, church members have been reimbursed for legitimate receipted expenses.
ALL SAINTS COTTENHAM WITH RAMPTON
Charity Commission Registration Number 1177838
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDING DECEMBER 2022
| Notes RECEIPTS Voluntary receipts Planned giving Collections at services Other giving/voluntary receipts 4a Gift Aid recovered Activities for generating funds 4b Investment income 4c Church Activities 4d TOTAL RECEIPTS PAYMENTS Church Activities Parish Share Clergy and staffing costs Church running expenses 4e Hall running expenses 4f Cost of generating funds Major repairs to church Minor repairs to church Minor repairs to hall TOTAL PAYMENTS Excess of payments over receipts Cash at bank and in hand on 1 Jan Cash at bank and in hand on 31 December |
UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL 2022 TOTAL 2021 £ £ £ £ 41,571.75 41,571.75 41,967.31 3,602.98 3,602.98 1,858.87 16,967.05 16,967.05 27,608.35 8,671.22 8,671.22 9,564.07 |
|---|---|
| 70,813.00 - 70,813.00 80,998.60 659.31 659.31 37.26 8,143.75 1,401.19 9,544.94 9,300.46 21,155.25 21,155.25 15,618.13 |
|
| 100,771.31 1,401.19 102,172.50 105,954.45 67,909.01 67,909.01 66,879.78 7,657.45 7,657.45 5,987.45 16,117.00 16,117.00 19,478.70 4,650.17 4,650.17 3,402.22 |
|
| 96,333.63 - 96,333.63 95,748.15 711.18 711.18 5,000.00 5,000.00 21,852.80 8,437.05 8,437.05 5,180.65 10,903.97 10,903.97 1,819.34 |
|
| 121,385.83 - 121,385.83 124,600.94 (20,614.52) 1,401.19 (19,213.33) (18,646.49) 46,909.12 3,630.61 50,539.73 68,051.72 |
|
| 27,390.18 5,031.80 32,421.98 50,539.73 |
ALL SAINTS COTTENHAM WITH RAMPTON
Charity Commission Registration Number 1177838
STATEMENT OF ASSETS AND LIABILITIES
YEAR ENDING DECEMBER 2022
| Notes CASH FUNDS Bank current account Lloyds PCC Hall Account Reordering account Cash on Hand INVESTMENT ASSETS Investment fund shares at cost 3 Assets retained for church use 2 LIABILITIES Assigned fees Other |
UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL 2022 TOTAL 2021 £ £ £ £ 15,945.21 5,031.80 20,977.01 19,982.71 8,192.42 8,192.42 7,105.96 3,187.61 3,187.61 23,391.20 35.62 35.62 35.62 29.32 29.32 24.24 |
|---|---|
| 27,390.18 5,031.80 32,421.98 50,539.73 |
|
| 210,005.74 39,994.26 250,000.00 250,000.00 |
|
| 120,000.00 120,000.00 120,000.00 |
|
| 5,046.00 5,046.00 5,757.00 2,198.90 2,198.90 392.32 |
|
| 7,244.90 - 7,244.90 6,149.32 |
ALL SAINTS COTTENHAM WITH RAMPTON Charity Commission Registration Number 1177838
NOTES TO THE ANNUAL FINANCIAL STATEMENTS YEAR ENDING DECEMBER 2022
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The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis
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Fixed assets retained for church use is the church hall, at cost.
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The remainer of the proceeds of the sale of Marian Bicheno's house, together with the organ fund, a restricted fund which represents a donation, are invested in the COIF fund. The market value of our investment at 31.12.2022 is £319,627.60
4. Further analysis of Receipts and Payments
| Receipts a) Other giving/voluntary receipts Donations One off grants Legacy b) Activities for generating funds Bookstall and card sales Catering & Coffee Printing & Stationery c) Investment Income Interest from COIF Investment d) Church Activities Fees for weddings & funerals Rent for use of hall Rent for use of church |
UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL 2022 TOTAL 2021 £ £ £ £ 8,135.05 8,135.05 5,430.35 8,732.00 8,732.00 21,178.00 100.00 100.00 1,000.00 |
|---|---|
| 16,967.05 - 16,967.05 27,608.35 |
|
| 7.72 7.72 25.22 630.00 630.00 12.04 21.59 |
|
| 659.31 - 637.72 37.26 |
|
| 8,143.75 1,401.19 9,544.94 9,300.46 |
|
| 6,992.00 6,992.00 7,511.00 11,959.25 11,959.25 7,419.13 2,204.00 2,204.00 688.00 |
|
| 21,155.25 - 21,155.25 15,618.13 |
ALL SAINTS COTTENHAM WITH RAMPTON
Charity Commission Registration Number 1177838
NOTES TO THE ANNUAL FINANCIAL STATEMENTS YEAR ENDING DECEMBER 2022
| Payments e) Church running expenses Boilers & radiators Computer expenses Gas and electricity Insurance Music Organ / piano tuning & repair Printing & stationery costs Security alarms Sundries Telephone, internet and email Upkeep of churchyard Water & sewage f) Hall running expenses Boilers & radiators Gas and electricity Housekeeping |
UNRESTRICTED FUNDS RESTRICTED FUNDS TOTAL 2022 TOTAL 2021 £ £ £ £ - - 141.67 679.98 679.98 50.00 5,034.26 5,034.26 5,902.15 6,030.39 6,030.39 5,733.94 906.75 906.75 654.75 60.00 60.00 120.00 188.06 188.06 472.33 992.40 992.40 945.60 747.03 747.03 485.58 1,075.58 1,075.58 1,034.29 - - 3,726.98 402.55 402.55 211.41 |
|---|---|
| 16,117.00 - 16,117.00 19,478.70 |
|
| 312.00 312.00 60.00 1,915.37 1,915.37 1,209.27 2,422.80 2,422.80 2,132.95 |
|
| 4,650.17 - 4,650.17 3,402.22 |
INDEPENDENT EXAMINER'S REPORT TO THE PCC OF ALL SAINTS, COTTENHAM FOR THE YEAR ENDED DECEMBER 31[ST] , 2022
This reports on the accounts of the Trustees for the year ended 31 December 2022 is in respect of an examination carried out under the Church Accounting Regulations 2006 and s145 of the Charities Act 2011.
Respective responsibilities of Trustees and Examiner
The Charity's trustees consider that an audit is not required for this year under Section 142(2) of the Charities Act 2011 (the 2011 Act) and that an Independent Examination is required.
Having satisfied myself that the PCC is not subject to audit under Charity Law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commissioners in Section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the general directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the PCC and a comparison of the accounts presented with those records. It also includes consideration of 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 a full audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below.
Independent Examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
• to prepare accounts which accord with the accounting records, comply with the methods and principles of the 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 2015) have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
R M Williamson
Mijan Ltd, The Willows, Long Drove, Waterbeach, Cambridge CB25 9LW