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All Saints Church Dedworth – 2022 Financial Report and Accounts
Treasurer’s Report for APCM 14th May 2023
Our 2022 Financial Report and Accounts are now finalised and signed off by our independent examiner, and will be made available on our website for review.
Looking back to 2022, the budgeted loss was lower than expected, at -£11.4k, due to lower than forecast fuel bills and due to receipt of an energy grant from the Diocese. Income from regular giving remained stable, with new joiners to the Parish Giving Scheme offsetting members who left in the year, and was ahead of 2021 and 2020, albeit covid lockdown closures contributed to record low giving during the years of the pandemic:
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2018 2019 2020 2021 2022
Regular Income Total Total Total Total Total
Standing Orders 38,183 24,050 13,063 10,186 10,426
Parish Giving Scheme 15,004 29,716 31,503 35,453
Collections (cash) 7,232 7,830 1,683 1,079 1,641
Envelopes 13,127 8,869 2,746 1,793 57
Sub-total of regular giving 58,542 55,753 47,208 44,561 47,577
Hall Hire 7,016 7,425 5,815 6,475 10,145
Total 65,558 63,178 53,023 51,036 57,722
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Looking forward to 2023, the forecast is a greater loss, of -£17.5k against last years -£11.4k. We are budgeted to spend £3k less on repairs and maintenance this year (in 2022 we spent just under £4k on electrical and lighting work) and hall hire income is expected to increase by £2k, but this is offset by forecast reductions in income from the café of -£2k, reduced grants and donations of £-1.5k, increased fuel costs of circa £2k, increased parish share of £2k and new curate housing costs from July of circa £4k.
ASD 2023 RESERVES POLICY
All Saints Church Dedworth is a medium sized church with an annual income of circa £73k which includes £10k from Hall Hire. There is a need for new staff, particularly to assist in church centre activities and the café. The condition of the buildings is generally good. The church currently has general reserves of £45k.
The PCC discussed the following factors in arriving at their reserves policy:
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Money should only be kept in reserve for specific reasons – whilst the Bible clearly indicates
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that we should not hoard, it is also clear that sensible planning for known events is important.
• An exceptional one-off donation in 2021 provided the church with time to grow the level of regular giving through deepening discipleship and growth in Life Groups. Regular expenditure has exceeded regular income over the past 5 years, with the loss in 2022 growing to -£11.4k. The 2023 loss is forecast at -£17k so it is proposed to set aside this amount for the next year to allow time to grow discipleship. (£17k)
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A wish to have two months running costs in cash reserves in case of a major problem. (£ 16k
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Whilst no other major building repair works are expected, minor ones are likely to need doing and it would be prudent to allow for this now. (£5k)
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A need has been identified for salaried staff (part time) to help out in the church centre (£5.2k)
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and to act as café manager (£5.2k). (£11k)
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There was a general wish that more should be spent on outreach to the community.
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The PCC would like to move towards modelling generous giving, by donating 10% of its income to mission outreach projects and Christian charities.
This policy will be reviewed in twelve months’ time apart from the local mission, outreach and giving, which will be reviewed frequently during the year.
The above level of reserves of £49k enables the church to maintain its current level of worship and pastoral support and in the event of surplus funds above this level at the financial year-end, the PCC will consider how these funds might be used for local mission and outreach.
Paul Watkins Treasurer, All Saints Dedworth,
INCOME & EXPENDITURE ACCOUNT
YEAR ENDED 31ST DECEMBER 2022
| INCOME 2021 £43,482 Net Gift Aid Pledges £ 9,373 Tax Relief on Gift Aid Pledges £52,855 Total Pledged Giving £1,080 Church Collections £6,475 Hall Hire £7,555 £234 Baptisms £50,743 Donations £220 Fund Raising £1,175 Funerals £1,000 Grants £12 Interest and Dividends Received £473 Miscellaneous £3,971 Insurance Claim £3,201 Special Collections £188 Weddings £40 Youth Group £61,257 £560 Running Man Cafe £122,227 TOTAL INCOME |
£45,879 £11,197 £1,698 £10,145 £0 £2,879 £81 £1,704 £1,881 £17 £0 £0 £1,121 £144 £1,620 |
2022 £57,076 £11,843 £9,447 £2,368 |
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| £80,734 |
| EXPENSES 2021 THE CHURCH & SERVICES £2,901 Lighting & Heating £5,527 £1,808 Insurance £1,859 £4,409 Minor repairs & maintenance £4,253 £1,231 Miscellaneous £1,426 £2,446 Upkeep of Services £3,443 £4,950 Salaries £1,040 £17,745 OTHER EXPENSES £39 Administration £246 £461 Catering £1,078 £3,042 Equipment Purchases £1,211 £1,144 Printing £489 £2,209 Special Collections £511 £2,031 Telephone/Internet £2,851 £705 Youth Work £1,769 £9,631 £0 Running Man Cafe PAYMENTS OUTSIDE PARISH £64,737 Parish Share £66,412 £0 Charitable Giving £0 £64,737 £92,113 TOTAL EXPENSES +£30,114 Excess of Expenditure Over Income |
£5,527 £1,859 £4,253 £1,426 £3,443 £1,040 |
2022 £17,548 £8,155 £0 £66,412 £92,115 -£11,381 |
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| £246 £1,078 £1,211 £489 £511 £2,851 £1,769 |
BALANCE SHEET AS AT 31ST DECEMBER 2022
| 31/12/2021 Assets £656 Diocesan Trustees Investment Account £57,411 Metro Bank - ASD Current Account £2,797 Metro Bank - Running Man Cafe £0 Petty cash £60,864 Apportioned as follows Unrestricted Funds £58,584 General Fund £1,624 Discretionary Funds Restricted Funds £656 Perpetual Trust Fund £60,864 Discretionary Funds: Homeless Fund Youth Work Fund |
31/12/2022 £656 Market Value as at 31/12/22 £46,030 As at 31/12/22 £2,797 As at 31/12/22 £0 £49,483 £47,353 £1,474 £656 £49,483 £809 £665 £1,474 |
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