PAROCHIAL CHURCH COUNCIL OF ST. JOHN THE BAPTIST, BURSCOUGH

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1 STATEMENT OF FINANCIAL ACTIVITIES INCOMING RESOURCES Note Unrestricted Restricted Endowment TOTAL FUNDS TOTAL FUNDS Funds Funds Funds Voluntary Income 2(a) 190, , ,244 Activities for generating funds 2(b) 8, ,954 12,235 Income from Investments 2(c) 13, ,867 8,221 Income from Church Activities 2(d) 14, ,366 16,300 Other incoming resources 2(e) 25, ,347 30,097 TOTAL INCOMING RESOURCES 252, , ,097 RESOURCES EXPENDED Church Activities 3(a) 271, , ,282 Costs of generating voluntary income 3(b) Fund raising trading costs 3(c) Governance costs 3(d) TOTAL RESOURCES EXPENDED 271, , ,282 NET INCOMING (OUTGOING) RESOURCES (19,065) - - (19,065) (45,185) GAINS AND LOSSES ON INVESTMENTS - realised unrealised NET MOVEMENT IN FUNDS (19,065) - - (19,065) (45,185) BALANCES B/fwd at 1st JANUARY ,341 93, , ,572 BALANCES C/fwd at 31st DECEMBER ,276 93, , ,387 10

2 BALANCE SHEET AS AT 31 DECEMBER 2014 Note FIXED ASSETS Tangible fixed assets 4(a) 79,236 79,236 Investment assets 4(b) 4,450 4,450 CURRENT ASSETS Stock - - Debtors 6 7,051 26,660 Short term deposits 105, ,383 Cash at bank and in hand 67,043 42, , ,762 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 7 (46,520) (19,061) NET CURRENT ASSETS 132, ,701 NET ASSETS 216, ,387 PARISH FUNDS Unrestricted 8 123, ,341 Restricted 9 93,046 93,046 Endowment , ,387 Approved by the Parochial Church Council on 2015 and signed on its behalf by:.. P. Dorling W. DIXON Hon. Treasurer Church Warden The notes on pages 8 to 12 form part of these accounts 11

3 NOTES TO THE FINANCIAL STATEMENTS 1. ACCOUNTING POLICIES Accounting Convention The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP The financial statements have been prepared under the historical cost convention except for the valuation of assets which are shown at market value. The financial statements 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, nor those that are informal gatherings of church members. Funds Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific object or invited by PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forwards as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average value basis. Unrestricted funds are general funds which can be used for PCC ordinary purposes. Incoming Resources Planned giving, collections and 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 legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross. Resources Expended Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross. Fixed Assets Consecrated and benefice property is not included in the accounts in accordance with s.96(2)(a) of the Charities Act Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church's inventory, which can be inspected (at any reasonable time). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently no individual item has cost more than 1,000 so all such expenditure has been written off when incurred. Investments are valued at market value at 31st December. 12

4 2. INCOMING RESOURCES Unrestricted Restricted Endowment TOTAL FUNDS TOTAL FUNDS Funds Funds Funds (a) Voluntary Income Planned Giving: Gift Aid donations 86, ,403 81,349 Tax recoverable 27, ,963 23,652 Other 27, ,099 22,927 Collections (open plate) 12, ,174 13,425 Gift Days Donations 36, ,509 4,891 Special Appeals Legacies , , , ,244 2(b) Activities for generating funds Bookstall for fundraising Hall Letting for non-church purposes 8, ,120 11,522 Rummage sales, fetes etc Non-charitable trading , ,954 12,235 2(c) Income from Investments Dividends and Interest including tax recoverable 4, , Rent from land or buildings held as an investment 9, ,700 7,541 13, ,867 8,221 2(d) Income from Church Activities Church Hall lettings Bookstall for promoting church objectives Magazine income from sales 2, ,234 2,318 PCC fees 12, ,132 13,982 14, ,366 16,300 2(e) Other incoming resources 25, ,347 30,097 TOTAL INCOMING RESOURCES 252, , ,097 13

5 3. RESOURCES EXPENDED Unrestricted Restricted Endowment TOTAL FUNDS TOTAL FUNDS Funds Funds Funds (a) Church Activities Missionary and charitable giving Overseas missionary societies ,000 Overseas relief and dev. agencies 17, , Home missions and other Church organisations 1, ,070 6,148 Secular organisations Ministry - - Parish Share 98, ,349 94,764 Working expenses of clergy 4, ,568 5,544 Parsonage house 3,000-3,000 2,149 Assistant staff costs 48, ,886 38,264 Church running expenses - - Heating and lighting 5, ,499 5,769 Insurance 3, ,960 4,180 Other costs 10, ,042 8,870 Church maintenance 33, ,069 7,923 Upkeep of churchyard 5, ,678 2,581 Printing and other costs of magazine 2, ,348 2,451 Bookstall costs Parish training and mission 27, ,657 35,738 Hall running costs 6, ,265 5,361 Hall repairs and maintenance 3, ,083 41, , , ,282 3(b) Costs of generating voluntary income (c) Fund raising trading costs (d) Governance Costs TOTAL RESOURCES EXPENDED 271, , ,282 14

6 4. FIXED ASSETS FOR USE BY THE PCC Freehold Fixtures & Total Land & Fittings Buildings 4(a) Tangible fixed assets GROSS BOOK VALUE At 1st January ,236-79,236 Additions Disposals At 31st December ,236-79,236 DEPRECIATION At 1st January Charge for the year Depreciation eliminated on disposals At 31st December NET BOOK VALUE At 31st December ,236-79,236 At 31st December ,236-79, (b) Investments Historical Cost 2,055 2,055 Market Value 4,450 4, ANALYSIS OF NET ASSETS BY FUND Unrestricted Restricted Endowment TOTAL FUNDS Funds Funds Funds 2014 Fixed Assets - 83,686-83,686 Current Assets 169,796 9, ,156 Current Liabilities (46,520) - - (46,520) Fund Balance 123,276 93, , DEBTORS Income Tax recoverable 3,511 22,656 Prepayments and Accrued Interest 3,540 3,066 Other Debtors ,051 26, LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and Deferred Income 23,874 4,041 Creditors for Goods and Services - - Other Creditors 22,646 15,020 46,520 19,061 15

7 8. UNRESTRICTED FUNDS The closing balance of unrestricted funds comprised the following: General 102, ,173 Missions 17,392 14,706 Branches 3,082 3, , , RESTRICTED FUNDS The closing balance of restricted funds comprised the following: Curates' Property 45,236 45,236 Church Refurbishment 9,360 9,360 Church Hall 34,000 34,000 Investments 4,450 4,450 93,046 93,046 16