ALL SAINTS’ UPPER CLATFORD

 

Statement of Financial Activities

 

For the year ended 31 December 2014

 

                                               General     Fabric   Endowment        Totals                    

                                                             Fund        Fund       Fund          2014       2013                        

                                                                 £               £               £                  £              £

Income                                                                              

Planned giving                                  12,223           -               -              2,223        13,103

Collections                                           2,672           -               -              2,672          1,608

Donations and legacies                           95       1,737           -             2,132          5,636

Wedding, memorial & funeral fees    4,005           -               -             4,005          4,705 

General fundraising                             3,273           -               -             3,273          2,342

Gift aid                                                   4,301           -               -            4,301          3,873

Share of magazine profit                     1,500           -               -            1,500          1,500

Electricity refund (Note 2)                    1,630           -              -             1,630                         

Income from Endowment Fund               -              566           -                566             555

Other income                                           637             -             -                637             699

                                                          ________________________________________

Total income                                    30,636       2,303           -          32,939        34,021                            

Expenses

Parish share                                       23,600            -               -           23,600        23,460

Benefice expenses                              3,679            -               -             3,679          3,550

Fees                                                         958             -               -                958             937

Electricity (Note 2)                                  218             -               -                218                  7          

Insurance                                              1,680             -              -              1,680          1,711

Donations                                                   -                -              -                  -                  500   

Church/churchyard maintenance             -          2,002            -             2,002           4,655

Other expenses                                       785            -               -                785               537

        _________________________________________

Total expenses                                30,920       2,002            -          32,922         35,357

                                                        _________________________________________

Net surplus/(deficit)                          (284)          301            -                  17         (1,336)

Revaluation of Endowment

    Fund investments (Note 4)                  -               -              753               753          2,554                    

                                                        _________________________________________

Net movement in funds                     284)          301         753               770          1,218

Opening funds at 1 January                 1,874       2,210   14,148         18,232      17,014                                             

                                                          _________________________________________

Closing funds at 31 December       1,590       2,511    14,901        19,002        18,232                                                                                                 _________________________________________

 

  

 

ALL SAINTS’ UPPER CLATFORD

 

 

Statement of Assets and Liabilities at 31 December 2014

 

                                           General        Fabric    Endowment                 Totals

                                             Fund            Fund         Fund         2014                2013

                                                 £                   £                 £                 £                      £

                                                              (Note 3)     (Note 4)

 

Bank accounts                   1,590           2,511            -                4,101               4,084

Cof E Investment Fund             -                 -          14,901         14,901             14,148

                                      __________________________________________________

Net assets/funds                1,590           2,511      14,901         19,002             18,232

                                      __________________________________________________

 

 

Notes:

 

(1)   The financial statements have been prepared on an accruals basis.

 

(2)   The expense for electricity is arrived at after deducting £622 (2013; £1,313 in respect of 2 years) income from electricity generated from solar panels.

 

In addition a refund of £1,630 was received in respect of overcharges in prior years.

 

(3) The Fabric Fund is primarily for the use of maintaining the fabric of the Church.

 

(5) The Endowment Fund comprises the Thomas Redman 2004 bequest. This is a permanent endowment which requires income to be spent on maintenance of the Churchyard. The Endowment Fund is invested in the CBF Church of England Investment Fund. The Investment is included in the accounts at market value at the year-end.

 

 

ALL SAINTS’ UPPER CLATFORD

 

Independent examiner’s report

 

This report on the 2014 financial statements of All Saints’ Upper Clatford is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 (“the Regulations”) and the Charities Act 2011 (“the Act”).

 

As PCC members you are responsible for the preparation of the financial statements, and you consider that an audit is not required for this year under the Regulations, that section 144(2) of the Act does not apply and that an independent examination is needed.

 

It is my responsibility to:

-         examine the financial statements under section 145 of the Act;

-         follow procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the Act;

-         state whether particular matters have come to my attention.

 

Basis of this report

 

My examination was carried out in accordance with the General Directions given by the Charity Commission under the Act. An examination includes a review of the accounting records and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations 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 financial statements.

 

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 Act; and

·        to prepare financial statements which accord with the accounting records and comply with the requirements of the Act and the 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 financial statements to be reached.

  

 

TC Wilson FCA

The Old Rectory, Upper Clatford        

 

 

All Saints’ Upper Clatford PCC

 

Expenditure Categories

 

A discussion was held at the Finance committee meeting on 23rd February 2010 regarding the

allocation and payment of expenditure which falls under the category of Restricted funds. 

 

It was agreed that we need to define clearly those items of expenditure which can be paid from

Restricted funds.  This comprises income received from fundraising events where the purpose of

the event has been advertised as going to the Fabric fund, or for donations made where the

donor specifies that the money is given for the Fabric fund.

 

 

Expenditure payable from

The Fabric fund

Expenditure not payable from the Fabric Fund

Repairs, maintenance and improvements to the fabric of the church and its fixtures and fittings, guttering, downpipes and drains, including the Meadow Room.

Church cleaning and flowers. 

Repairs, maintenance and improvements to the church organ

Organist’s salary and choir expenses, e.g. music, robes etc

Repairs, maintenance and improvements to the church bells, bell ropes etc

Bell ringers’ fees, subscriptions etc

Maintenance, repairs and improvements to the churchyard, including paths, boundary walls, fences & hedges, trees and planting, grassed areas etc

Repairs and maintenance of individual gravestones

Work required to electrical installation, fittings etc

Electricity usage charges, heating costs

Expenses incurred in fundraising for the Fabric fund

Parish share

Provision and maintenance of sound system

Insurance

 

Parochial Fees

 

Benefice expenses

 

Donations

 

 

 

 

 

 

It is not possible to define every item of expenditure, it is intended that this list will be amended

and updated from time to time.

 

Return to Financial Matters Welcome page