WILLOWFIELt) CHIJRCH Willowfield Parish Church Annual report and financial statements For the year ended 31 December 2022 Charities Number: NIC101980 Willowfield Parish Church Annual report and flnanclal statements for the year ended 31 December 2022 Contents Pages References and administrative details Trustees. Annual Report Independent examiner's report to the Trustees Statement of financial activities Balance sheet io Statement of Cash Flows li Notes to the financial statements Willowfield Parish Church References and administrative detalls Charity Name.. Willowfield Parish Church Charity Registration Number: NIC101980 Contact Address.. Willowfield Parish Church Office, 330-332 Woodstock Road. Belfast, 8T6 9DP Trustees Rev Clive Atkinson (Rector) Andrea Lowry Dawn Mayes Keith Mcmaw Kyle Flanigan Pamela Wilson David Woods Aliyah Quinn Jonathan Cousins Brian Mayes Andrew Wallace Arthur Blair Francis Khamanra Gavin Patterson lain Lyons Elizabeth Oown Alex Mateer Timothy Cairns Principal Offlce-bearers Clergy.. Rev Clive Atkinson, Rev Elaine Pentland lappolnted 28, August 20221 Church Secretary.. Kyle Flanigan Rector's Church Warden.. Mark Trimble (resigned 28th April 20221, Jonathan Cousins (appointed 28, April 2022,. resigned 261h April 20231, Arthur Blair lappointed 26 April 20231 People's Church Wardens.. Elizabeth Down, Alice Myles (appointed 26, April 20231, Francis Khamanra (appointed 26, April 20231. Rector's Glebe Warden: Chris Dempster (resigned 4th April 20231, lain Lyons (appointed 26 April 20231 People'5 Glebe Warden.. David Woods Church Treasurer: Aliyah Quinn (appointed 28, April 20221, Alex Mateer (resigned 28, April 20221, Independent Examiner Bankers Michael Mccarter FCA. GMCG Chartered Accountants, 17 Mandeville Street, Portadown, County Armagh BT62 3PB Danske Bank, Donegall Square West, Belfast, BTI 6JS Willowfield Parlsh Church Trustees, Annual Report for the year ended 31 December 2022 The trustees present the annual report and accounts for Willowfield Parish Church for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" IFRS 1021 in preparing the annual report and financial statements of the charity. The financial statements have been prep2red in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standards, Accounting and Rèporting 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charitles (Accounts and Reports) Regulations (Northern Ireland) 2015 and UK Generallv Accepted Accounting Practice. Reference 3nd administrative details Charity Name: Willowfield Parish Church Charity Registration Number.. NIC101980 Contact Address.. Willowfield Parish Church Office, 330-332 Woodstock Road, Belfast, BT6 9DP Independent Examiner: Michael Mccarter FCA, GMCG Chartered Accountant5. 17 Mandeville Street, Portadown, County Armagh, BT62 3PB Bankers- Danske Bank, Donegall Sqlsare West, Belfast, BTI 6JS Trustees of the charity The members of the select vestry and all Principal Office Bearers can act as trustees for the purposes of charity law. The trustees who have served during the year and since the year end are as follows.. Rev Clive Atkinson (Rector) Andrea Lowry Dawn Mayes Keith Mcmaw Gavin Patterson lain Lyon5 Elizabeth Down Alex Mateer Timothy Cairns Kyle Flanigan Pamela Wilson David Woods Chris Matchett IAppointed 28th April 20221, (Resigned 26 April 20231 Aliyah Quinn (Appointed 28th April 20221 Jonathan Cousins (Appointed 28th April 20221 Brian Mayes (Appointed 28th April 20221 Andrew Wallace (Appointed 26th April 20231 Arthur Blair (Appointed 26th April 20231 Francis Khamanra (Appointed 26th Aprll 20231 Amanda Cameron IResigned 28th April 20221 Mark Trimble (Resigned 28th April 20221 Joel Pullin IResigned 28th April 20221 Matthew Gamble (Resigned 28th April 20221 Chris Dempster IResigned 4th April 20231 th Willowfield Parish Church Trustees, Annual Report for the year ended 31 December 2022 Icontlnuedl Objectives and Activities The charitable purpose of the Church of Ireland is the advancement of religion. The principal function of Willowfield Parish is to support the advancement of the Christian religion by promoting, through the work of WillowField Parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Being open to and engaglng with society as a whole and offering support for those needing help are fundamental to the practical delivery of the benefits of Christianity. As a result of activity in the pursuit of the advancement of the Christian religion, Willowfield Parish has custody of property and of records, materials and artefacts of significance to the cultural and religious heritage and maintenance of which is undertaken by the select vestry of Willowfield Parish. Compliance wlth Public Benefit The Parish has given careful consideration to the Charity Comml55Ion for Northern Ireland's guidance on public benefit to ensure that the activities entered into during the year have helped to achieve the Parish's objectives and activities, as well as providing public benefit. Achievements, Performance and Public Benefit 2022 w35 3 year in which we sought to continue to build generating momentum throughout our weekly programmes, enabling us to serve the local community as well a5 our congregation. We offered the occasion pastoral services such as baptisms, thanksgivings, weddings and funerals, celebrating the major festivals of Easter and Christma5 a5 well. It was also the year when we marked our 150 Anniversary. Outreach We were able to offer a full programme of youth and children programmes. We were able to open the doors of the Church Hall to the wider community through events such as Open House, an opportunity for anyone and everyone to drop in, have something to eat and chat to staff and other users. We were able to support local families through our Family Support Team and through programmes deliberated design to meet the needs of both children and teenagers. The Alpha Course was offered during both the Autumn and Winter months in the Church and Door to Door work along local streek5 returned. Service Our staff and team of volunteers have shown again their committed to living and serving our local community and meeting local needs. Our Food Bank has provided food and vouchers for heating and lighting to many within the local community. Prayer ministry for people with physical, mental, emotional and spiritual needs was gradually introduced on Sundays. P35toral visiting became possible again with the opportunity to visit Care Homes, Hospitals as well as people in their homes. Willowfield Par15h Church Trustees, Annual Report for the year ended 31 December 2022 (continued} Dlsclpleship At the heart of Willowfield lies the call to help people live out their faith in the cut and thrust of everyday lives. Sunday services. midweek Life Groups and one to one catch ups are 3 Significant part of this calling. Financial Review During the year ended 31 December 2022, total expenditure of £513,758 exceeded total income of £490,216 by £23,544. The net expenditure before transfers and Eains / losses on investments is £55,931 lower than in the year ended 31 December 2021. This is due to an increase in income from donations and other tradinE activities and a decrease in charitable expenditure. Reserves policy The trLJStees have established a policy whereby the unrestricted fund5 not committed or invested In tangible fixed assets held by the charity are needed to meet the working capital requirements of the charity and to enable the charity to effectively manage any unforeseen risk or financial difficulties. At 31 December 2022, the balance of unrestricted funds is £54,06112021.. £62,734) and the balance of restricted funds is £1,537,63912021.. £1,545,534). The trustees are satisfied that the level of reserves is sufficient to continue the current activltles of the charity in the event of a significant shortfall in income levels. The trustees will continue to review the reserves policy to ensure that the policy reflects the needs of the charity in a changing environment. Plans for future periods We will continue to serve the local community around us, particularly through the use of the re~developed church halls. The church halls give us the resources and opportunity to reach those who are most in need within East Belfast. We will continue our W￿de range of outreach programme5. including Alpha, pub ministry, door to door work, healing on the streets, men's and women's ministries. Moreover, alongside our community focus we will continue to reach out to those in need across the world. We plan to continue helping both financially, but also by sending people to countries like Cambodia and Mexico. Also, to give our church community the opportunity to grow together, we will continue our proEramme of Parish Weekends every two years, with the next taking place ir) 2024. Going Concern The trustees have reviewed the budgets for the year ahead and are satisfied that there are adequate funds in place to ensure that the Parish can continue its activities and the financial statements for the year end 31 December 2022 can be signed off as a Eoing concern. Structure, Governante and Management Governing Document and Constitution of the Charity Chapter 111 of the Constitution of the Church of Ireland governs Parishes and Parochial OrEani5ation. The Select Vestry members and Principal Office Bearers can act as the Charity Trustees. Recrultment undAppointment of Select Vestry All members of the Church of Ireland who are over the age of 18 and are either resident within the parish or live elsewhere but have been accustomed members of the congregation for at least three months, may register as members of the general vestry of the parish, allowing them to attend and vote at meetings of the general vestry and to stand for election to the select vestry. Willowfield Parish Church Trustees, Annual Report for the year ended 31 December 2022 Icontlnuedl structure, Governance and Management Icontinuedl Recruitment undAppointment off Select Vestry {continued) Meetings of the general vestry are held at least once a year. The Select Vestry is elected as part of this General Vestry meeting. The Select Vestry will hold their positions for a period of one year. Select Vestry members may be re-elected annually and there is no limit on the number of terms which may be served. Pay and remuneration Acting in his role as Rector of Willowfield Parish Church, the Rev Clive Atkinson received a stipend and off ice and locomotory allowance in accordance with figures approved by the General Synod of the Church of Ireland. Acting in the role as Curate of Willowfield Parish Church, (Rev C Atkinson until March 2022 and Mrs E M Pentland since September 20221 receives a stipend and office and locomotory allowance in accordance with figures approved by the Gener31 Synod of the Church of Ireland. Both these have been detailed in note 10 in the Notes to the financial statements. No other charity trustees receive any remuneration from Willowfield Parish Church. Organisational Structure The select vestry is responsible for the day-to-day management of the parish. The select vestry consists of the rnember of the clergy serving in the parish, any curate assistant I'the curate'l, the churchwarden5, the glebe wardens and generally not more than twelve other members of the general vestry elected at the General Vestrv. The select vestry is chaired by the incumbent or other member of the clergy officiating in the parish. Select vestry members are responsible for making decisions on matters of general concern and importance to the parish including deciding how parish funds are to be applied. The select vestry meets at times fixed by the members or by the diocesan synod. special meetings may be convened at any time by the chairperson or the churchwardens. Related party Willowfield Parish Community Association, a charitable company registered in Northern Ireland (charity number.. NIC 103336 and company registration number N10628081 is a related party of the charity as Reverend Clive Atkinson acts as trustee for both charities. Statement of Trustees, Responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in the Northern Ireland requires the trustees to prepare financial statements for each financial year which Eive a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee5 are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP 2019 IFRS 1021,. make judgments and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financlal statements,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Parish will continue as a going concern. WlllovrfSeld Parlsh Ch¥rch Tryrtees. Attnu•l Report lor the year ended 310e LLS Willowfield Parish Church Statement of Financial Activities Year ended 31 December 2022 Unrestricted Funds 2022 Restricted Funds 2022 Endowment Funds 2022 Total 2022 Total 2021 Note Income and endowments from,. Donations & legacies Other trading activities Investments 364,073 45,442 75,842 4,831 439,915 50,273 28 418,750 32,627 6,883 20 Total Income and endowments 409,515 80,681 20 490,216 458,260 Expendlture on: Raising funds Charitable activities Total Expenditure 709 424,473 425,182 709 513,049 513,758 676 537,059 537,735 88,576 88,576 Net lexpenditurel l income for the year before galns/llossesl on investments 115,6671 17,8951 20 {23,5421 179,4751 Net gains/llossesl on investments Net {expenditurel / Income 115,6671 17,8951 20 {23,5421 179,4751 Transfers between fund5 6,994 16,9941 Other recognlsed gainslllosses): ILossesl/Gains on revaluation of investments 16,3931 16,3931 13,543 Net movement in funds {8,6731 17,8951 113,3671 129,9351 165,9321 Reconciliation of funds: Total funds brought forward 62,734 1,545,534 130,668 1,738,936 1,804,868 Total funds carried forward 54,061 1,537,639 117,301 1,709,001 1,738,936 All income and expenditure derives from continuing activities. Wlllowneld ParSJh Churyh Ollince 5he¢l Year endod 31 December 2012 Nole 2012 2021 Flxed Asstts Tan8lble asstls He¥lia8Q ass¢ls Inve51m¢nts 12 13 14 IA65,950 1.465.950 117.301 1,583251 130,668 1,596,618 Current Au¢ts Oebtors Cash ai bank and In hand Is 134I9S 24,854 IS9.749 13S.634 55.Cx)8 190.&42 Credttors: amountslalllni du• wlthln one y••r Net CU￿tfit Assets 16 (13,9991 125,750 148,3241 142.318 N*t Asséts 1,709,001 1,738.936 th*rtty fvnds Efidowment (unds Permanent endowm¢At Restricted fvnd5 Unrestricted funds 17 17 17 117301 1,537,639 54,061 IJO.668 1,545.$34 62,734 Totrl thaflrv funds 1.7LTr3.001 1,738,936 The flnanclal state ents were approved and a￿horIsed forlssue by ¢he Board on.. Aevd Clfve Atkinson Trustè* 31.1.1..012oiJ ex Mateer Tfustee DJte'. The n01*5 on paees 12 to 28 lorm part of these nn3nclal st•teMents 10 Wlllowfield Parish Church Statement of Cash Flows Year ended 31 December 2022 Total 2022 Total 2021 Note Cash flows from operating activities: Net cash flowfrom operotlng activities 19 137,1561 134,0241 Cash flows from investing activitles: Dividends, interest and rents from investments Draw down on Investments Proceeds from sale of investments 28 6,994 1201 6,883 1701 Net CU5h flowfrom investing activities 7,002 6,813 Net decrease in cash and cash equivalents Cash and cash equlvalents at l January 2022 130,1541 55,008 127,2111 82,219 Cash and cash equivalents at 31 December 2022 24,854 55,008 Cash and cash equlvalents consists of: Cash at bankand in hand 24,854 55,008 Cash and cash equivalents at 31 December 2022 24,854 55,008 Willowfield Parish Church Notes to the finantlal statements Year ended 31 December 2022 l. Summary of significant accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. al General information and basi5 of preparation Willowfield Parish Church is a charity and is part of the registered charity, Belfast/Belfast.. Willowfield/Willowfield Parish Church/Down & Dromorelchurch of Ireland which registered with The Charitycommission forNorthern Ireland on 9, March 2015.The address of the registered office is given in the charity information on page l of these financial statement5. The nature of the charity's operations and principal activities are the advancement of religion. Belfast/Belfast: Willowfieldlwillowfield Parish ChurchlDown & Dromore/Chvrch of Ireland, a charitable trust 55 constituted undèr a trust deed d2ted 9, March 2015. Belfast/Belfast'. WillowField/Willowfield Parish ChurchlDown & Dromorelchurch of Ireland constitutes a public benefit entity as defined by FRS 102. Statement of Com liance The financial statement5 have been prepared in accordance with applicable accounting standard5, 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act (Northern Ireland) 2008, Charities Act INorthern Ireland) 2013, The Charities IAccounts and Reports) Regulations (Northern Irelandl 2015 and UK Generally Accepted Accounting Practice. The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to thÈ nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. bl Preparation of accounts on a golng concern basls The Parish generally meets its dayto day working capital requirements from its annual income. The financial statements have been prepared on agoingconcern basisasthetrustees believethat no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statement5. The budgeted income and expenditure Is sufficient with the level of resources for the charity to be able to continue as a going concern. cl Funds Funds are classified as either restricted funds or unrestricted funds, defined as follows. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustee5 for particular purposes. This designation has an administrative purpose only and does not legally restrict the trustees, discretion to apply the fund. 12 Willowfield Parlsh Church Notes to the financlal statements Icontinuedl Year ended 31 December 2022 l. Summary of Significant accounting pollcles {continuedl cl Fund51contlnuedJ Restrictedfunds arefunds subject to specificrequirementsas totheir use which may be declared bythe donoror with their authority or created through legal processes, but still within the wider objects of the Parish. The cost of raising and administering such funds are charged against the specific fund. Endowmentfunds are fundswhich have been given onthe condition thatthe original capital sum is not reduced, principally bonds held with Barclays, Stocks, shares and RCB Unit Trusts. Income arising on the endowment funds can be used in accordance with the objects of the charityand is included as unrestricted income. dl Income Plate Collections, Weekly Envelopes, Graveyard income and Columbarium income are accounted for on a cash receipts basis as the amount 15 collected. Income arising from the rental of Parish Centre facilities to third parties is recognised when the parish has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received 8nd the amount can be measured reliably. Incomefrom government and other grants, whether'capital, grants or'revenue, grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the incomewill be received and the amount can be measured reliablyand is not deferred. Legacies are included within income under either unrestricted or restricted funds according to the terms under which the donation is made. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is reco8nised. On occasion legacies will be notified to thecharity however, it is not possibleto measurethe amountexpected to bedistributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Donations and gifts in kind are brought into the accounts at thelr fair value to the Parish. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is earned through holding assets for investment purposes such as shares, unit trusts and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. Interestand dividendstogether with any reclaimable tax credits are included in the accounts as received. Rent is included in the accounts when it is receivable. el Expenditure All expenditure isaccounted foron an accruals basisand has been classified underheadinES that aggregate allcosts related to the category. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probablethat settlement will be required and the amount of the obligation can be measured reliably. 13 Willowfield Parish Church Note5 to the financlal statements (continued) Year ended 31 December 2022 1. Summary of significant accounting policies l¢ontlnuedJ el Expenditure (continuedj All expendlture is accounted for on an accruals basis and has been classified under headinES that aggregate all cost5 related to the category. Expenditure is recognised once there is 3 legal or constructive obligation to make a payment to a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. It is cateEorised under the following headings: Cost of raising funds include5 ofllce running expenses,. Expenditure on charitable activities includes wages and salaries, Diocesan assessments, church running cost5, Glebe cost5 and charitable donations,. and other expenditure represents those items not falling in to the categories above. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. fl Support costs allocation Support costs are those that assist the work of the charily but do not directly represent charitable activities and inclLJde off ice costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to C05t of rai ginE funds and expenditure on charitable activities on 3 basis consistent with use of resources. The analysis of these costs is included in note S. gl Tangible fixed assets Tangible fixed assets are stated at cost lor deemed costl. Costs include costs directly attributable to making the asset capa ble of operating as intended. Tangible fixed assets of the Parish comprise:_ Church Halls Glebe House Curatage No depreciation has been provided on the Church Halls as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Glebe House and the, Curatage are recoEnised at cost I deemed cost, being the estimated fair value of the property at the most recent valuation date conducted by Land and Property Services. No depreciation h85 been provided on Glebe House and the Curatage as the current estimated residual value is not less than its carrying value and the remaining useful life currently exceeds 50 years. Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial activities and included in 'Other operating Ilossesllgains,. The costs of minor additions, where the useful life is considered to be less than 2 years, are not capitalised. 14 Willowfield Parlsh Church Notes to the financlal statements Icontlnuedl Year ended 31 December 2022 1. Summary of significant actountlng policies Icontlnued) h) Heritage assets The Church Building is deemed to be Heritoge assets as defined by the Charities SORP 2019 IFR51021. These Heritage assets are not included on the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish. Any repairs to Heritage assets are expensed in the SOFA. il Investments Fixed asset investments comprising investment properties, investments in equitSes and investment in RCBICIT Unit Trusts are initially recorded at cost and arÈ then subsequently stated at fair value at each balance sheet date, Investments in unquoted investments are recorded at cost and are a55e55ed annually for impairment. Unrealised gains 2nd losses represent the difference between the fair value at the beEinning and end of the financial year or, if purchased in the year, the difference between cost and fair value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the ye ar or cost if purchased in the year. Both realised and unrealised gains and losses in investments are reported within 'Net Gains / ILossesl on Investments" within the Statement of Financial Activities. j) Cash and cash equivalents Cash and cash equivalent5 includes cash in hand, deposits held at call with banks, other 5hort-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors.. Amounts falling due within l year. k) Flnancial instruments The Parish only has financial as5et5 and financial liabilities of a kind that qualify as basic financial instruments. Basic f inancial instruments are initially recognised at transaction price and Subsequently measured at their settlement value. 11 Tax As a charity, it benefits from various exemptions afforded by tax legislation. It is therefore not liable to corporation tax on income or gains falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid. The charity is not registered for VAT purpose5,' therefore expenditure is shown gross of VAT. m) Critlcal accounting judgements and estimatlon uncertainty Estimates and judgments made in the process of prep8ring the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be re3son2ble under the circumstances. The TrLJStees do not consider that there are any critical judgments made in applying the Parish's accounting policies or that there are any critical accounting estimate5 or assumptions which may have a slgnificant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 15 Wlllowfleld Parish Church Notes to the financial statements Icontlnuedl Year ended 31 December 2022 2. Donations and legacies Unrestricted Funds 2022 Restricted Funds 2022 Endowment Funds 2022 Total 2022 Total 2021 Plate Collections Weekly envelopes l FWO Tax recovered on Donations Special Appeals Grants HMRC Job Retention Scheme Other 13,778 266,470 60,660 2,367 54,256 3,872 9,101 16,145 320,726 64,532 9,101 1,978 7,250 320,868 62,524 8,731 7,050 7,992 4,335 418,750 1,978 21,187 364,073 6,246 75,842 27,433 439,915 Income from donations and legacies was £439,915 12021.. £418,750) of which £Nil 12021.. £Nill was attributable to endowments, £75,84212021.. £65,226) was attributable to restricted and £364,07312021.. £353,524) was attributable to unrestricted. 3. Other tradlng actlvlties Unrestrlcted Funds 2022 Restricted Funds 2022 Endowment Fund5 2022 Total 2022 Total 2021 Contributions to church funds 45,442 4,831 50,273 32,627 Income from other trading activities was £50,273 12021: £32,627) of which £Nil 12021.. £Nill was attributable to endowments, £4,831 12021: £4141 was attrlbutable to restricted and £45,442 12021.. E32,2131 was attrlbutable to unrestricted. 16 Wlllowfield Parish Church Notes to the financial statements Icontinuedl Year ended 31 December 2022 4. Investment5 Unrestricted Funds 2022 Restricted Fund5 2022 Endowment Funds 2022 Total 2022 Total 2021 Investment income 20 20 28 28 6,883 6,883 Income from investments was £2812021.. £6,883) of which £2012021.. £701 was attributable to endowments, £812021: £6,700) was attributable to restricted and £Nil12021'. £1131 was attributable to unrestricted. Allocation of sUPPOrt costs Raising funds Charltable activity Total 2022 Other Governance Office costs 2,100 2,100 709 709 709 2,100 2,809 Rai5irig funds Charitable activity Total 2021 other Governance Office costs 2,466 2,466 676 676 676 2,466 3,142 Governance costs Total 2022 Total 2021 Independent examiner fees 2,100 2,466 17 Willowfleld Parish Church Notes to the financial statements Icontinuedl Year ended 31 December 2022 7. Analysis of Expenditure Unre5tritted Funds 2022 Restricted Funds 2022 Endowment Funds 2022 Total 2022 Ralsing Funds other 709 709 709 709 Charitable Activities Wages and Salaries Donations Diocesan Assessment Church Running Costs Glebe Costs Rectory Cost5 Charitable Donations Ministry Youth Men's Ministry Women's Ministry Outreach Young Adult5 Alpha unurn 276,096 43,904 27,148 17,741 40,911 276,096 43,904 27,148 17,741 66,526 iio 49,499 20,968 7,032 25,615 iio 49,499 12,683 8,285 7,032 452 2,022 165 717 452 2,022 165 717 669 669 424,473 88,576 513,049 Total Expenditure 425,182 88,576 513,758 18 Willowfleld Parish Church Notes to the financial statements (continued) Year ended 31 December 2022 7. Analysis of Expenditure Icontinuedl Unrestricted Funds 2021 Restricted Funds 2021 Endowment Funds 2021 Total 2021 Raising Funds Other 676 676 676 676 Charitable Activities Wages and Salaries Donations Diocesan Assessment Church Running Costs Glebe Costs Rectory Costs Charitable Donations Ministry Youth Men's Ministry Women's Ministry Outreach Young Adults Alpha unurn 263,387 63,979 32,232 23,446 28,892 263,387 63,979 32,232 23,446 44,747 49,538 42,752 8,908 5,743 66 338 1,597 39 287 15,855 49,538 42,752 2,499 6,409 5,743 66 338 1,597 39 287 426,415 110,644 537,059 Total Expenditure 427,091 110,644 537,735 S. Fund transfers Funds are transferred from unrestricted funds to restricted funds to cover shortfalls in restricted funding. When there is a small balance left on a restricted fund and it 15 not feasible to pay over the remaining balance on the project as it has now ceased, the remaining fund balance is transferred to unrestricted funds. 9. Taxation Willowfield Parish Church is retognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 19 Wlllowfield Parish Church Notes to the financial statements Icontinuedl Year ended 31 December 2022 10.Trustees' and key management personnel remuneratlon and expense5 The trustees received remuneration in the year totalling £74,45212021.' £72,639) and an analysis of the remuneration is shown in the tables below. The total amount of employee benefit5 received by key management personnel is £Nil12021'. ENill. The trust considers its key management personnel comprise the trustee5. No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year. The parish paid expenses of £4812021: £5.8571 relating the running costs of the Glebe House which is occupied by the rector and £2,62212021: £3631 relating to the Curatage. For the year 2022, the values approved by General Synod and implemented by the Select Vestry of Willowfield Parish Church were: Total 2022 Rector Vicar Curate Stipend Locomotory expenses Expenses of off ice allowance Heating allowance Pension contribution 36,475 6,590 800 500 12,258 3,669 170 48,733 10,259 970 500 13,990 9,952 4,038 For the year 2021 the values approved by General Synod and implemented by the Select Vestry of Willowfield Parish Church were: Total 2021 Rector Vicar Curate Stipend Locomotory expenses Expenses of off ice allowance Locomotory taxable Heating allowance Pension contribution 23,608 3,833 400 560 250 6,206 23,664 5,750 340 540 47,272 9,583 740 I,ioo 250 13,694 7,488 20 Willowfleld Parish Church Notes to the financial statements Icontinuedl Year ended 31 December 2022 10. Trustees, and key management personnel remuneratlon and expenses Icontinuedl Some Trustees received reimbursement for expenses incurred on behalf of the Parish.. Total Amount 2022 Total Amounl 2021 Trustee Expense Destrlption Women's Ministry Expenses Ministry Expenses Catering Donation Rev K. Salmon Rev K. Salmon Rev K. Salmon Rev K. Salmon Rev K. Salmon Rev K. Salmon Rev K. Salmon Rev C. Atkinson Rev C. Atkinson Rev C. Atkinson Rev C. Atkinson 247 173 500 117 548 38 loo Training Leaving gift Repairs Ministry Expenses Training Scarlett Bequeath Expenses 2,500 566 151 S7 606 72 40 3,318 2,397 11. Staff costs and employee beneflts The average monthly number of employees and full time equivalent IFTEI during the year was as follows: 2022 Number 2021 Number Ministerial support Administration Music and lighting staff Premises maintenance li 12 The total staff costs and employee benefits were as follows: 2022 2021 Wages and salaries Social securitv Defined contribution pension cost5 240,424 18,853 16,819 276,096 229,788 16,747 16,852 263,387 No employees received total employee benefits (excluding employer pension costsl of more than £60,00012021'. None). 21 Wlllowfield Parish Church Notes to the financial statement5 Icontlnuedl Year ended 31 December 2022 12. Tanglble fixed assets Buildings Church Hall Total Cost At l January 2022 and at 31 December 2022 287,500 1,178,450 1,465,950 Depreciation At l January 2022 and at 31 December 2022 Net book value: At 31 December 2022 At 31 December 2021 287,500 287,500 1,178,450 1,178,450 1,465,950 1,465,950 The net book value of land and buildings comprised.. 2022 2021 Land and buildings: Freehold Long leasehold Short leasehold 1,465,950 1,465,950 1,465,950 1,465,950 Tt7ngiblefixed assets held ot voluation.. The historic cost equivalent of land and buildings included at valuation are as follows- 2022 2021 Land and buildings-. Cost Accumulated depreciation Net book value 287,500 287,500 287,500 287,500 22 Willowfleld Parish Church Notes to the financlal Statements {continued) Year ended 31 December 2022 13. Heritage assets The Church Building is deemed to be a heritage asset as defined by the Charities SORP 2019 IFR51021. These Heritage assets are not included on the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish. 14. Fixed asset Investments Listed investments Other investments Total Cost or valuation At l January 2022 Additions Drawdown Revaluation At 31 December 2022 844 129,824 20 16,9941 16,3931 116,457 130,668 20 16,994} 16,393) 117,301 844 Impairment At l January 2022 and at 31 December 2022 Carrying amount At 31 December 2022 At 31 December 2021 844 844 116,457 129,824 117,301 130,668 Investments at fair value comprise: 2022 2021 Unit trusts Listed investments 116,457 844 129,824 844 117,301 130,668 The fair value of investments is determined by reference to the valuations provided by Barclays, RCB Unit Trusts, M&G investments and market values at 31" December 2022. 23 Willowfleld Parish Church Notes to the flnancial statements {continued) Year ended 31 December 2022 15. Debtors 2022 2021 HMRC (Gift Aid) Prepayments Other debtors 129,880 1,706 3,309 134,895 135,634 135,634 16. Creditors: amount5 falllng due within one year 2022 2021 Accruals 33,999 48,324 24 Willowfleld Parish Church Notes to the financial statements Icontinuedl Year ended 31 December 2022 17. Fund retonciliation At31 December 2022 At l January 2022 Gains / (Losses) Income Expenditure Transfers Restricted Funds Building Fund Specific donations fund unuRN CAP Food Store Prospects Fund Harvest Covid Fund Mission Allotation Float- church hall Project Rwanda Ukraine Appeal Scarlett Church Hall 1,197,103 18,807 8,189 9,760 1,096 344 3,115 6,327 3,296 loo 22,250 8,310 125,7251 18,0021 16691 13,3871 14,2001 1.193,628 19,115 7,520 9,760 2,691 344 3,115 6,327 3,387 5.795 1,361 11,3611 29,253 132,5491 loo 4,071 6,254 4,071 3,468 287,500 9,897 287,500 112,6831 1,545,534 80,681 188,5761 1,537,639 Unrestricted Funds General fund 62,734 409,515 1425,1821 6,994 S4,061 62,734 409,515 1425,1821 6,994 54,061 Endowment fund5 Stocks Bonds 844 129,824 844 116,457 20 16,9941 16,3931 130,668 20 (6,9941 {6,3931 117,301 1,738,936 490,216 1513,7581 16,3931 1,709,001 25 Willowfield Parlsh Church Notes to the financlal statements Icontinuedl Year ended 31 December 2022 17,Fund reconciliation Icontinuedl At31 December 2021 At l January 2021 Gainsl ILossesl Income Expenditure Transfers Restricted Funds Building Fund Specific donations fund UnURN CAP Food Store Prospects Fund Harvest Covid Fund Mission Allocation Float - church hall Project Rwanda Scarlett Church Hall 1,241,776 19,670 8,189 9,760 798 344 3,115 6,694 2,054 loo 20,759 1,745 165,3921 12,5851 1401 1231 1,197,103 18,807 8,189 9,760 1,096 344 3,115 6,327 3,296 loo 3,405 3,863 13,4051 13,5651 4,816 14,8161 13671 127,7001 28,942 252 8,558 13151 12,4991 63 3,838 287,500 9,897 287,500 1,583,838 72,340 1110,6441 1,545,534 Unrestricted Funds General fund 103,975 385,850 1427,0911 62,734 103,975 385,850 1427,0911 62,734 Endowment funds Stocks Bonds 844 116,211 844 129,824 70 13.543 117,055 70 13,543 130,668 1,804,868 458,260 1537,7351 13,543 1,738,936 26 Willowfleld Parish Church Notes to the financlal statements (continued) Year ended 31 December 2022 17. Fund reconciliatlon Icontinuedl Fund descriptions al Unrestricted funds The income in the General Fund comprises mainly of donations from collections and gift aid. Expenses within the General Fund relate to the raising of funds and charitable activities of the charitv. bl Designated funds No funds were designated at the period end. cl Restricted funds The income in the restricted funds relate5 to donations to the building fund and other specific donations during the year. dl Endowment funds Endowment funds are made up of l year Bonds, Stocks and Shares and Unit Trust5. 18. Analysis of net assets between funds Unrestrlcted funds Design3ted funds Restricted fund5 Endowment funds 31 December 2022 Total Fixed assets tangible Fixed assets - investments Cash Other current assets Current liabilities 1,465,950 1,465,950 117,301 24,854 134,895 133,9991 1,709,001 117,301 112,5911 89,564 22,912 54,061 37,445 45,331 11,0871 1,537,639 117,301 Unrestricted funds Designated funds Restricted funds Endowment funds 31 December 2021 Total Fixed assets- tangible Fixed assets - investments Cash Other current assets Current liabilities 1,465,950 1,465,950 130,668 55,008 135,634 48,324 1,738,936 130,668 19,1651 94,685 22,7861 62,734 64,173 40,949 125,538 1,545,534 130,668 27 Willowfield Parlsh Church Notes to the financial statements {continued) Year ended 31 December 2022 19. Reconclliation of net expenditure to cash flow from operatlng activities 2022 2021 Net expenditure for the year 123,5441 179,4751 Dividends, interest and rent from investments Decrease in debtors (Decrease) / increase in creditors Net cash flow from operating activities 128} 740 114,3241 137,IS61 16,8831 12,344 39,990 134,0241 20. Pensions and other p05t-retirement benefits Defined contribution pension plan The charity operates a defined conlribution pension plan for its employees. The amount recognised as an expense in the period was £16,81912021- £16,852). The contributions for the Rector & Curate came to £13,99012021- £13,694) and for other employees £2,82912021 £3,158) The defined contribution liability is allocated to charitable activities. 21. Financial commitments Contractual commitments are for the acqu151tion of tangible fixed assets contracted for but not provided in the financial Statements amounted to £Nil12021.. £Nill. 22. Related partytransactions Reverend Clive Atkinson acted as a trustee of Willowfield Parish Community Association. Also, see note 10 'Trustees' and key management personnel remuneration and expenses." During the year donation5 totalling £48,683 12021 £59,352) were paid to Willowfleld Parish Community Association. During the year donations totalling £3,15412021 £3,154) were received from Willowfield Parish Community Association. 23. Ethical Standards In common with many other organisations of our size and nature we use our accountants to assist with thepreparatlon of the financial statements. 28