REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 FOR ST GILES' WEST BRIDGFORD PAROCHIAL CHURCH COUNCIL

Transcription

1 REGISTERED CHARITY NUMBER: REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 FOR ST GILES' WEST BRIDGFORD PAROCHIAL

2 CONTENTS OF THE FINANCIAL STATEMENTS Page Report of the Trustees 1 to 2 Independent Examiner's Report 3 Statement of Financial Activities 4 Balance Sheet 5 Notes to the Financial Statements 6 to 11

3 REPORT OF THE TRUSTEES The trustees present their report with the financial statements of the charity for the year ended 31 December The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number Principal address The Rectory 86 Bridgford Road West Bridgford Nottingham Nottinghamshire NG2 6AY Trustees Reverend L Proudlove R Crawley C Harper E Pearce E Prentice R Ottway P Lovett J Langheld G Rooke B Sprakes M Crew M Keown N Sutcliffe A Cudmore C Bills A Ferraro J Mole D Carter S Poon S Jones (elected 27 th April) A Place (elected 27 th April) R Gadsby (co-opted 19 th November) B Parish (retired 27 th April) H Jones (retired 27 th April) J Hill (retired 27 th April) Incumbent Church Warden Church Warden PCC Treasurer PCC Secretary DeaneryRepresentative DeaneryRepresentative DeaneryRepresentative Deanery Representative Deanery Representative Independent Examiner K Mealand FCCA Lemans 29 Arboretum Street Nottingham Nottinghamshire NG1 4JA Bankers Natwest Bank plc Rectory Road West Bridgford Nottingham 1

4 REPORT OF THE TRUSTEES STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The PCC operates under the PCC Powers Measure (1956) as amended and Church Representation Rules. Recruitment and appointment of new trustees The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. OBJECTIVES AND ACTIVITIES Objectives and aims The principal aim of the organisation is to promote the whole mission of the Church in the ecclesiastical parish. Significant activities Significant activities of the organisation include: Regular public worship open to all The provision of sacred space for prayer and contemplation Teaching Christianity through sermons, courses and small groups The provision of youth work with a Christian Ethos promoting Christianity through the staging of events and meetings and the distribution of literature Supporting other charities in the UK and overseas Promoting the whole mission of the Church through provision of activities for Senior Citizens, parents and toddlers. ACHIEVEMENT AND PERFORMANCE The main achievements of the organisation are: The continued funding of a youth worker to complement the existing work within Junior Church. Continued work to cater for the senior members of the congregation. Ongoing pastoral care continues to be delivered through a team to link Parishioners to the clergy. Upholding the tradition at St Giles of performing music to a high standard and encouraging the talents of individuals. Provided financial and practical support to our Mission Partners. FINANCIAL REVIEW Reserves policy It is the charity's policy that the Parish Reserves fund should be maintained to cover approximately 3 months of running costs and to enable future development without financial restraints. PUBLIC BENEFIT The Trustees have had due regard to the guidance published by the Charity Commission on public benefit when reviewing the charity's aims and objectives and in planning future activities. ON BEHALF OF THE BOARD: Reverend L Proudlove - Trustee 18 March

5 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST GILES' WEST BRIDGFORD PAROCHIAL I report on the accounts for the year ended 31 December 2014 set out on pages four to eleven. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. It is my responsibility to: - examine the accounts under Section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - to state whether particular matters have come to my attention. Basis of the 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 charity 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 an 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: (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act 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. K Mealand FCCA Lemans 29 Arboretum Street Nottingham Nottinghamshire NG1 4JA 18 March

6 STATEMENT OF FINANCIAL ACTIVITIES Notes Unrestricted Funds Designated Funds Restricted Funds Total 2014 Total 2013 INCOMING RESOURCES Voluntary income 2 143,694-10, , ,543 Activities for generating funds 3 43, ,015 39,845 Investment income Total incoming resources 186,984-10, , ,701 RESOURCES EXPENDED Diocesan Parish Share 120, , ,420 Clergy Expenses 4, ,186 2,576 Church Running Costs 16, ,787 19,542 Church and Churchyard 6, ,093 18,703 Maintenance Hall Running Costs 5, ,652 7,740 Organist s salary and Choir 5, ,790 6,049 Expenses Junior/Youth Church 3, ,745 1,391 Miscellaneous expenses 6, ,645 3,730 Printing, postage and stationery 5, ,204 4,755 Depreciation of Assets 1, ,280 1,144 Senior Activities Youth worker costs - - 9,095 9,095 10,315 Administrative Wages 7, ,568 6,393 Cottage costs 4, , Governance Costs Total resources expended 188, , , ,088 NET INCOMING / (OUTGOING) RESOURCES (1,063) (123) 1, ,613 Gross transfer between funds RECONCILIATION OF FUNDS Total funds brought forward 29,641 40,825 26,563 97,029 89,416 Total funds carried forward 28,578 40,702 27,768 97,048 97,029 4

7 BALANCE SHEET AT 31 DECEMBER 2014 Notes Unrestricted Funds Designated Funds Restricted Funds Total 2014 Total 2013 FIXED ASSETS Tangible assets 8 3, ,781 4,691 CURRENT ASSETS Debtors: amounts falling due within one year 9 22, ,509 20,120 Cash at bank 13,335 40,702 27,768 81,805 78,876 CREDITORS Amounts falling due within one year 10 (11,047) - - (11,047) (6,658) NET CURRENT ASSETS 24,797 40,702 27,768 93,267 92,338 TOTAL ASSETS LESS CURRENT LIABILITIES 28,578 40,702 27,768 97,048 97,029 TOTAL NET ASSETS 28,578 40,702 27,768 97,048 97,029 TOTAL FUNDS 28,578 40,702 27,768 97,048 97,029 The financial statements were approved by the Board of Trustees on 18 March 2015 and were signed on its behalf by:. Reverend L Proudlove Trustee... Mr E Pearce - Treasurer 5

8 NOTES TO THE FINANCIAL STATEMENTS 1. ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standards for Smaller Entities (Effective April 2008), the Charities Act 2011, the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities and the Church Accounting (Amendment) regulations The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members. Incoming resources Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are reliably quantifiable. Interest is accounted for as and when accrued by the payer, and rental income from letting church premises is recognised when the rental is due. All incoming resources are accounted for gross. Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. The diocesan parish share is accounted for when paid. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings Computer equipment - 10% - 15% on cost - 15% - 33% on cost Consecrated and benefice property is not included in the accounts in accordance withs10(2)(a) and (c) of the Charities Act Moveable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected (at any reasonable time). For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight line basis. Rental income arises from two cottages, 9 and 11 Church Drive, the ownership of which is vested in the Southwell & Nottingham Diocese, held in benefit for St Giles' West Bridgford PCC. Taxation The charity is exempt from tax on its charitable activities. 6

9 NOTES TO THE FINANCIAL STATEMENTS - CONTINUED 1. ACCOUNTING POLICIES - continued Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. Designated funds are established for specific purposes as agreed by the PCC members, and remain as unrestricted funds. Restricted Funds comprise revenue donations for a specific activity intended by the donor. 2. VOLUNTARY INCOME Donations 13,199 31,647 Gift aid tax recoverable 26,705 29,071 Planned Giving 100,620 98,854 Collections 13,470 8, , , ACTIVITIES FOR GENERATING FUNDS Church and church hall lettings 12,522 13,475 Wedding and Funeral Fees 8,193 4,907 Fundraising 1,704 2,927 Other income 20,596 18,536 43,015 39,845 7

10 NOTES TO THE FINANCIAL STATEMENTS - CONTINUED 4. INVESTMENT INCOME Deposit account interest GOVERNANCE COSTS Independent examiners fee TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 December 2014 nor for the year ended 31 December Trustees' Expenses There were no trustees' expenses paid for the year ended 31 December 2014 nor for the year ended 31 December STAFF COSTS Wages and salaries 23,638 17,652 During the year the PCC paid a part-time administrator, a youth worker, a cleaner and an organist who is self employed. There are no high paid staff. 8

11 NOTES TO THE FINANCIAL STATEMENTS - CONTINUED 8. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment Totals COST At 1 January ,615 11,911 18,526 Additions At 31 December ,615 12,281 18,896 DEPRECIATION At 1 January ,491 11,344 13,835 Charge for year ,280 At 31 December ,080 12,035 15,115 NET BOOK VALUE At 31 December , ,781 At 31 December , , DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Tax 18,309 19,194 Prepayments 4,200-22,509 20, CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11,047 6,658 9

12 NOTES TO THE FINANCIAL STATEMENTS - CONTINUED 11. MOVEMENT IN FUNDS Net movement in funds Transfers between funds Unrestricted funds General fund 29,641 (1,063) - 28,578 Seniors Ministry Fund 825 (123) Parish Reserves Fund 40, ,000 Restricted funds Ministry and Mission Fund 26, ,768 Hardship Fund - 1,000-1,000 TOTAL FUNDS 97, ,048 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 186, ,047 (1,063) Seniors Ministry Fund (123) Restricted funds Ministry and Mission Fund 9,300 9, Hardship Fund 1,000-1,000 TOTAL FUNDS 197, , General Fund This fund represents the funds of the PCC and are not restricted in their use. The funds are available for general purposes. Parish Reserves Fund This fund is for the ongoing performance of Church duties. Ministry and Mission Fund This fund is currently being used to pay a salary and related expenses of a Youth Worker. Seniors Ministry Fund This fund is used for the benefit of the elderly members of the Church. Hardship Fund This fund is used for the benefit of those experiencing financial hardship, at the discretion of the PCC. 10

13 NOTES TO THE FINANCIAL STATEMENTS - CONTINUED 12. ULTIMATE CONTROLLING PARTY The charity is under the control of the Board of Trustees. 13. FUNDRAISING BY ST GILES PCC The following payments, some of which resulting from dedicated collections, were made by St Giles during the year. Christian Aid 4,500 The Friary, West Bridgford 341 Family care 658 Nottinghamshire Clergy Widows 200 Friends International 777 Rafiki Thabo Foundation 1,269 11