Halewood Church Council St. Nicholas' and St Mary's Churches. Halewood

Transcription

1 Halewood Church Council St. Nicholas' and St Mary's Churches Halewood Report and Financial Statements for the year

2 Report and Financial Statements 2013 Contents Page Parochial Church Council Officials 3 Independent Examiners Report 4 Statement of Financial Activites 5 Balance Sheet 6 Accounting Policies 7 Notes on the Financial Statements 9 Parochial Church Councils Annual Report 16 Halewood Ecumenical Ministry Team Parochial Church Council Members 2

3 Halewood Church Council Officials Report and Financial Statements 2013 St Nicholas Church & Centre Barclays Bank plc South Liverpool Branch Hunts Cross Liverpool St Mary's Church Nat West Bank plc South Liverpool Branch Hunts Cross Liverpool Examiner Mr Geoff Mason Apartment Aigburth Vale Liverpool Architect (St Nicholas Church) Architect (St Mary's Church) Edmund Kirby Robert Bell India Buildings Saunders Bell Water Street Studio 56 Liverpool Sherwood Road Crosby Liverpool 3

4 INDEPENDENT EXAMINERS REPORT Report and Financial Statements 2013 This report on the accounts of the HCC for the year ended 31 December 2013, which are set out on pages 5 to 33 is in respect of an examination carried out under s.43 of the Charities Act Respective responsibilities of Trustees and Examiner As the members of the PCC you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to issue this report on those accounts in accordance with the terms of Regulation 7 of the Charities (Accounts and Reports) Regulations Basis of Independent Examiner's Report My examination was carried out in accordance with the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act. That examination includes a review of the records kept by the PCC and a comparison of the accounts with those records. It also includes considering 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 an audit, and consequently, I do not express an audit opinion on the view given by the accounts Independent Examiner's Statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 41 of the Act; and to prepare accounts which accord with the accounting records and comply with the regulations as also contained in the Church Accounting Regulations 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. 4

5 STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31st December 2013 Unrestricted Restricted Endowment TOTAL FUNDS Funds Funds Funds Note INCOMING RESOURCES Incoming resources from donors 2a,3a 67,808 20, ,453 81,284 Other voluntary incoming resources 2b,3b 18,242 14, ,320 22,467 Income from operating activities: - to further the Council's objects 2c,3c 20,367 2, ,012 26,396 - to generate funds 2d,3d 206, , ,258 Income from investments 2e,3e Other incoming resources 2f,3f 3,033 18, ,997 79,502 TOTAL INCOMING RESOURCES 316,767 56, , ,750 RESOURCES USED Costs of generating funds 4a,5a Grants 4b,5b 12,647 2, ,099 5,325 Activities directly relating to the work 4c,5c 139,534 58, , ,072 of the church Management and administration of the Council 4d,5d 156,073 16, , ,760 TOTAL RESOURCES EXPENDED 308,254 77, , ,157 NET INCOMING (OUTGOING) RESOURCES 8,513-21, ,094-23,407 TRANSFERS BETWEEN FUNDS TOTAL AFTER TRANSFERS 8,513-21, ,094-23,407 GAINS & LOSSES ON INVESTMENTS 0 0 1,791 1,791 1,365 NET MOVEMENT IN FUNDS 8,513-21,607 1,791-11,303-22,042 BALANCES B / FWD AT 1 JANUARY 304, ,089 16, , ,488 BALANCES CARRIED FORWARD AT 31 DECEMBER 313, ,482 18, , ,446 5

6 BALANCE SHEET Report and Financial Statements 2013 Note FIXED ASSETS Tangible fixed assets 6 447, ,443 Investment assets 7 18,258 16, , ,909 CURRENT ASSETS Debtors & Prepayments 9 11,177 9,548 Short term deposits 42,696 54,761 Cash at bank and in hand 89,833 85, , ,407 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 10 (58,558) (63,137) NET CURRENT ASSETS 85,148 86,270 LIABILITIES: AMOUNTS FALLING 11-86,374-96,732 DUE AFTER MORE THAN ONE YEAR NET ASSETS 464, ,447 FUNDS 8,12 Unrestricted 313, ,891 Restricted 132, ,089 Endowment 18,257 16, , ,446 Approved by the Parochial Church Council on 4th May 2014 and signed on its behalf by: The Revd Alan Jewell Mr Thomas Beesley The notes on pages 7 to 15 form part of these accounts 6

7 Report and Financial Statements For the year ended 31st December 2013 ACCOUNTING POLICIES The financial statements have been prepared in accordance with the Church Accounting Regulations 1997 together with applicable accounting standards and the Charities SORP. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. Funds General funds represent the funds of Halewood Church Council (HCC) that are not subject to any restrictions regarding their use and are available for application on the general purposes of the HCC. The accounts include transactions, assets and liabilities for which the HCC is held responsible in law. They do not include the accounts of Church groups that owe an affiliation to another body nor those that are informal gatherings of Church members. Incoming Resources Voluntary income and capital sources Collections are recognised when received by or on behalf of the HCC. Planned givings receivable under covenant are recognised only when received. Income tax recoverable on covenants or gift aid donations is recognised when the income is recognised. Grants and legacies to the HCC are accounted for as soon as the HCC is notified of its legal entitlement and the likely amount due. Funds raised by the fetes and similar events are accounted for gross. Sales of books and magazines from the church bookstall are accounted for gross. Income from investment Dividends and interest are accounted for when receivable. Tax recoverable on such income is recognised in the same accounting year. Income from property rentals Rental income is recognised when the rent is due. 7

8 Report and Financial Statements For the year ended 31st December 2013 Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December. Fixed Assets Consecrated land and buildings and movable church furnishings Consecrated land and beneficed property is excluded from the accounts by s.96(2)(c) of the Charities Act No value is placed on movable church furnishings held by the churchwardens on special trust for the HCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable 'church furnishings, relating to maintenance is written off as expenditure in the Statement of Financial Activities and separately disclosed. During 2007 extensive works were carried out on phase one of e development to the inside of St Nicholas Church. It was agreed by HCC that the costs of the works would be capitalised and depreciated over a fifteen year period. This will also coincide with finance taken out in 2008 which will help to complete phase two of the reordering of the church Land & Buildings- St Nicholas Centre Land and buildings are valued at historic cost. It is the HCC's practice to maintain the Centre in a continual state of sound repair. Accordingly, the HCC considers that the economic life of the Centre and its residual value are such that any depreciation is insignificant and is thus not provided. Other fixtures, fittings and office equipment Equipment used within the church premises is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of 500 or less are written off when the asset is acquired. Investments Investments are valued at market value at 31 December. The valuation has been undertaken by the Central Board of Finance of the Church of England. Current Assets Amounts owing to the HCC at 31 December in respect of fees, rent or other income are shown as debtors less any provision for amounts that may prove uncollectable. Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank. 8

9 NOTES TO THE FINANCIAL STATEMENTS Report and Financial Statements INCOMING RESOURCES Unrestricted Restricted Endowed TOTAL FUNDS Funds Funds Funds a Incoming resources from donors Regular Planned Giving: Tax Efficient Planned Giving 33,751 1, ,841 32,653 All income Tax recovered 7,447 2, ,381 12,576 Other planned giving 8, ,987 10,315 Loose Plate Collections 9, ,191 8,876 Occasional Giving Donations 8,432 16, ,053 16,864 2b 2c 2d 2e 2f 67,808 20, ,453 81,284 Other voluntary incoming resources Fund Raising 6,309 6, ,446 12,457 Bequests Appeals & Donations & Grants 11,933 7, ,874 10,010 LA Churchyard maintenance grant ,242 14, ,320 22,467 Income from operating activities: to further the Council's objects Church Fees 20,367 2, ,012 26,396 20,367 2, ,012 26,396 Income from operating activities: to generate funds Fete & other fund raising events 3, ,651 3,802 Sales 7, ,225 47,459 Subscriptions Use of facilities 3, ,441 4,384 Lettings 51, ,181 41,341 Assigned fees 140, , , , , ,258 Income from investment Dividends and Interest including any reclaimed tax Other ordinary income Photocopier Insurance Claims Other 2,541 18, ,505 79,268 3,033 18, ,997 79,502 TOTAL INCOMING RESOURCES 316,767 56, , ,750 9

10 NOTES TO THE FINANCIAL STATEMENTS Report and Financial Statements INCOMING RESOURCES Unrestricted Restricted Endowed TOTAL FUNDS Funds Funds Funds a Incoming resources from donors St Nicholas Church 36,668 20, ,114 52,700 St Mary's Church 26, ,330 27,201 St Nicholas Centre 5, ,009 1,383 St Mary's Church Nursery ,808 20, ,453 81,284 3b 3c Other voluntary incoming resources St Nicholas Church 1,596 12, ,333 16,661 St Mary's Church 5,006 1, ,347 1,796 St Nicholas Centre St Mary's Church Nursery 11, ,640 4,010 18,242 14, ,320 22,467 Income from operating activities: to further the Council's objects St Nicholas Church 20,367 2, ,012 25,199 St Mary's Church ,197 20,367 2, ,012 26,396 3d Income from operating activities: to generate funds St Nicholas Church 10, ,876 51,261 St Mary's Church 8, ,250 0 St Nicholas Centre 46, ,372 45,725 St Mary's Church Nursery 140, , , , , ,258 3e 3f Income from investment St Nicholas Church St Mary's Church St Nicholas Centre St Mary's Church Nursery Other ordinary income St Nicholas Church 1,596 18, ,560 78,496 St Mary's Church St Nicholas Centre St Mary's Church Nursery 1, ,437 1,006 3,033 18, ,997 79,502 Total Incoming Resources St Nicholas Church 71,928 54, , ,088 St Mary's Church 39,392 1, ,932 30,194 St Nicholas Centre 51, ,439 47,150 St Mary's Church Nursery 154, , ,318 TOTAL INCOMING RESOURCES 316,767 56, , ,750 10

11 NOTES TO THE FINANCIAL STATEMENTS (Continued) Report and Financial Statements RESOURCES EXPENDED Unrestricted Restricted Endowment TOTAL FUNDS Funds Funds Funds a Costs of generating funds Gross costs of fund raising b 4c Grants Other 12,647 2, ,099 5,325 12,647 2, ,099 5,325 Activities directly relating to the work of the Church Diocesan Quota & Stipend 34, ,707 34,122 Methodist Assessment 20, ,508 16,963 Parish Fees 7, ,070 5,765 Clergy Expenses Vicar's Expenses 5, ,374 3,970 Telephone 2, ,580 2,418 Assistant staff costs Church & Centre Running Expense Utilities 16, ,836 23,553 Insurance 3, ,024 2,701 Upkeep of services 3,815 2, ,861 0 Routine repairs to building 18,949 25, ,448 5,454 Major fabric repairs ,792 Grounds & Security ,606 Costs related to trading Garden Fete 1, ,008 3,126 Provision for doubtful debts Cost of sales 18, ,920 16,454 Junior Church & Youth Groups Support and training costs Verger 2, ,400 3,300 Organist's fees 1, ,740 2,040 Bellringers Other , ,075 17, ,534 58, , ,072 4d Management and administration of the Council Office Expenditure 12, ,295 12,910 Wages & Secretarial assistance 124, , ,380 Depreciation 1,527 20, ,332 22,333 Amortisation of Grant 0 (4,881) (4,881) (5,044) Bank charges and Loan Interest 1,590 1, ,658 2,938 Other 16, ,291 12, ,073 16, , ,760 TOTAL RESOURCES USED 308,254 77, , ,157 11

12 NOTES TO THE FINANCIAL STATEMENTS (Continued) Report and Financial Statements RESOURCES EXPENDED Unrestricted Restricted Endowment TOTAL FUNDS Funds Funds Funds a 5b Costs of generating funds Gross costs of fund raising Grants St Nicholas Church 749 2, ,201 1,230 St Mary's Church St Nicholas Centre St Mary's Church Nursery 11, ,803 4,687 5c Activities directly relating to the work of the Church 12,647 2, ,099 5,325 St Nicholas Church 70,642 57, , ,364 St Mary's Church 30,103 1, ,278 29,230 St Nicholas Centre 24, ,000 22,062 St Mary's Church Nursery 14, ,788 13,416 5d Management and administration of the Council 139,533 58, , ,072 St Nicholas Church 8,478 16, ,470 27,466 St Mary's Church 3, ,969 2,647 St Nicholas Centre 18, ,423 18,399 St Mary's Church Nursery 125, , , ,074 16, , ,760 Total Resources Used St Nicholas Church 79,869 76, , ,060 St Mary's Church 34,167 1, ,342 31,285 St Nicholas Centre 42, ,423 40,461 St Mary's Church Nursery 151, , ,351 TOTAL RESOURCES USED 308,254 77, , ,157 12

13 Report and Financial Statements For the year ended 31st December FIXED ASSETS FOR USE BY THE PCC Land & Buildings Other Total Tangible fixed assets GROSS BOOK VALUE At 1 January , , ,360 Additions At 31 December , , ,360 DEPRECIATION At 1 January , ,917 Charge for the year 0 22,332 22,332 Depreciation on disposals At 31 December , ,249 NET BOOK VALUE At 1 January , , ,443 At 31 December , , ,111 St Nicholas Church 0 185, ,829 St Mary's Church St Nicholas Centre 252,089 9, , , , ,111 7 INVESTMENTS Market Value 18,258 16,466 The investments are various holdings in the Investment and Fixed Interest Funds of the Central Board of Finance. All investments are held by St Nicholas Church. The movement in market value is reflected in the statement of financial activities. 13

14 Report and Financial Statements For the year ended 31st December ANALYSIS OF NET ASSETS BY FUND Unrestricted Restricted Endowment Funds Funds Funds Total Fixed Assets 261, , ,112 Investments ,257 18,257 Stock Deposits 21,228 21, ,696 Bank & cash in hand 83,220 6, ,833 Current Assets 10, ,177 Current Liabilities -15,642-42, ,558 Liabilities greater than one year -47,311-39, ,374 Fund balance 313, ,482 18, ,143 St Nicholas Church 18, ,975 18, ,373 St Mary's Church 15,821 4, ,328 St Nicholas Centre 224, ,352 St Mary's Church Nursery 55, , , ,482 18, ,143 9 DEBTORS & PREPAYMENTS Care Centre (St Mary's) 23 1,029 Prepaid Expenses 0 0 Rentals due, less bad debt provision Income Tax Recoverable 7,722 6,797 Other Debtors 2,956 1,721 11,177 9,548 St Nicholas Church 5,017 4,391 St Mary's Church 3,565 5,112 St Nicholas Centre 2, St Mary's Church Nursery ,177 9, LIABILITIES: amounts falling due within one year Liverpool Diocesan Board of Finance 0 0 Methodist Assessment 0 0 Bank Loan Repayments 8,400 9,780 Listening Ear Prepaid Rent 4,270 4,038 Deferred Grant income 42,833 47,714 Other Creditors 3,055 1,605 58,558 63,137 St Nicholas Church 42,916 52,852 St Mary's Church 1, St Nicholas Centre 14,245 15,631 St Mary's Church Nursery 0 6,600 58,558 76,046 14

15 Report and Financial Statements For the year ended 31st December LIABILITIES: amounts falling after more than one year Bank Loan Repayments 86,374 96,732 Amounts falling due between one and two years 18,950 18,950 Amounts falling due between two and five years 56,850 56,850 Amounts falling due in over five years 10,574 20,932 86,374 96,732 St Nicholas Church 39,063 43,834 St Mary's Church 0 0 St Nicholas Centre 47,311 52,898 St Mary's Church Nursery ,374 96, RESTRICTED FUNDS The closing balance of Restricted Funds comprised the following: St Nicholas Church; Building Fund 100, ,998 Churchyard Fund 2,814 1,783 Music Fund 0 0 Audio Fund 1,121 1,121 Other 23,722 19,400 Summer Club 0 0 St Mary's Church; 127, ,302 Junior Missions for All Fund Partners in Mission Fund Youth Fellowship 1,023 1,033 Other 2,539 2,234 4,508 4,143 Total Restricted Funds 132, , Related Party Transactions During there were transactions made with St Marys Care Centre. 15