Parish of All Saints Wok i ngham The Parish Office, The Cornerstone, Norreys Avenue, Wokingham RG40 1UE Email Address: parishoffice@allsaintswokingham.org.uk Tel: 0118 979 2797 Registered Charity Number 1127585 ANNUAL ACCOUNTS 2014 : Diocese of Oxford
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 1 INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF ALL SAINTS CHURCH, WOKINGHAM This report of the financial statements of the P.C.C. for the year ended 31st December 2014, which are set out on pages 7 to 15, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ('the Regulations') and section 145 of the Charities Act 2012 ('the Act'). Respective responsibilities of members of the PCC and the examiner As members of the P.C.C. you are responsible for the preparation of the financial statements. You consider that the audit requirement of the Regulations and section 144(2) of the Act does not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Regulations. Basis of this report My examination was carried out in accordance with the General Directions given by the Charity Commission under section 145(5)(b) of the Act and to be found in the Church Guidance, 2006 edition, issued by the Finance Division of the Archbishops' Council. That examination includes a review of the accounting records kept by the P.C.C. and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the financial statements 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 the 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 2013 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 accounts to be reached. The Revd. Alan A. Clements MA ACIB FCIE 15 Carleton Road Great Knowsley Chorley Lancashire PR6 8TQ CONTENTS Independent Examiner's Report... 1 Administrative Information... 2 Parochial Church Council... 2 Church Membership & Attendance... 3 Review Of The Year... 4 Financial Review... 5 Risk Assessment... 6 Reserves Policy... 6 Future Developments... 6 Statement of Financial Activities... 7 Balance Sheet... 8 Accounting Policies... 9 Notes to the Financial Statements... 10
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 2 PARISH OF ALL SAINTS, WOKINGHAM SUMMARY ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31st DECEMBER 2014 ADMINISTRATIVE INFORMATION Status: Correspondence Address: Bank: Independent Examiner: Legal Status The Parish of All Saints Wokingham is part of the Deanery of Sonning and of the Diocese of Oxford. All Saints' Parish Office, The Cornerstone, Norreys Avenue, Wokingham, RG40 1UE HSBC Bank plc., 1 Market Place, Wokingham, RG40 1AL The Revd. Alan A. Clements, 15 Carleton Road, Gt.Knowsley, Chorley PR6 8TQ Under the terms of section 3 of the Parochial Church Councils (Powers) Measure 1956 the Parochial Church Council (PCC) is a body corporate and is registered with the Charity Commission under number 1127585. PAROCHIAL CHURCH COUNCIL Membership Membership of the PCC is divided into two groups, ex-officio (Priests and Deacons licensed to the Parish, Churchwardens and members of the Deanery Synod) and those elected by the Annual Parochial Church Meeting ("APCM") in accordance with Church Representation Rules. Additionally members may be appointed by the PCC during the course of the year to make up numbers if a vacancy occurs. During this year the following served as members of the PCC. Incumbent The Revd. Canon David Hodgson (Chairman) Clergy The Revd. Helen Charlton licensed to The Revd. Anna Harwood (from July 2013) the parish Wardens Mrs Anne King * Mr John Smith * (to 2014 APCM) Second warden post vacant since 2014 APCM Third warden post vacant since 2010 APCM Deanery Mr Peter Barrett * (from 2014 APCM) Synod Mrs Anne King * Mrs Josephine Robinson (to 2014 APCM) Mrs Susan James Mrs Judith Scott Mr John Smith * Elected Members Co-opted Appointed Mr Paul Armitage (from 2014 APCM) Mrs Pat Axford (from 2014 APCM) Mrs Joyce Baldry Mr Peter Barrett * (to 2014 APCM) Mr Ian Brooks * (from 2014 APCM) Miss Rachel Knowles Mr Graham Leeson (from 2014 APCM) Mr Christopher Singleton Mr Stephen Smith (from 2014 APCM) Mrs Harriet Swinyard Mr Kevin Wernham * (from 2014 APCM) Mr Ian Brooks * (to 2014 APCM) The Revd. Colin James Mrs Pam Gilbey Mr Kevin Wernham * (to 2014 APCM) People with asterisked names each held two different positions during the year. Mr Stephen Smith had to retire from PCC in April but continued as PCC Treasurer for the rest of the year Mr Graham Leeson has held the post of PCC Secretary since June2014; previously the position was vacant The full PCC met nine times during the year; committees met between these meetings and presented reports to the PCC at regular intervals. Structure, Governance and Management 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 to stand for election to the PCC. The PCC is responsible for a wide range of matters affecting the parish, including compliance with health & safety and disability legislation and child protection. In their capacity as trustees, members of the PCC are responsible for the stewardship of the funds and for appropriate accounting and reporting of the parish finances. The PCC works to ensure that each member of the committee is equipped to fulfil their role.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 3 There are also a number of sub-committees which report to the PCC and who are responsible for specific areas of the church's activities. Cornerstone Steering Group Finance Committee Standing Committee Stewardship Committee Sets direction for the work of the Cornerstone management team in providing the Cornerstone building's facilities to the community and to the church. Responsible for oversight of all aspects of the finances of the PCC and their associated administration. Responsible for transacting the business of the PCC between its meetings. Sets the agenda for PCC meetings and is responsible for the distribution of relevant information to the membership. Responsible for pledged giving and the coordination of time and talents. The PCC remains responsible for all legal, financial and policy matters. Responsibility for the church's buildings abides with the three churchwardens working as a group. It is considered that all PCC members and any others who could be understood to be 'managers' in the activities and affairs of All Saints are deemed to be 'fit and proper' persons under the terms of the Finance Act 2010. Induction Training as appropriate is offered to newly elected PCC members and to those re-elected to the PCC after a period of absence; 'in-office' training is made available to all PCC members as seen to be required. Objectives and Activities The PCC is aware of the Charity Commission's guidance on public benefit in The Advancement of Religion for the Public Benefit and has regard to the guidance in its administration of the Parish. The PCC believes that, by fulfilling its responsibility to work together with the incumbent and to co-operate in all matters of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical, it provides a benefit to the public by : providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; promoting Christian values, and service by members of the Church in the Parish to its community, to the benefit of individuals and society as a whole. It also has maintenance responsibilities for All Saints' Church, its churchyard, the Cornerstone building, and the two houses that it owns in Wiltshire Road. CHURCH MEMBERSHIP & ATTENDANCE The number on the Electoral Roll at the APCM in April 2014 was 313 people (April 2013-302). Sunday attendees at the standard four services in the benchmark month of October averaged 239 (2013: 257) of which 48 (2013: 57) were younger members. Communicants at the Christmas Eve 11.15pm service numbered 124 (2013: 128) with 137 on Christmas Day itself (2013: 170). Easter Day communicants numbered 253 (2013: 278). This year we record here (for the first time) the number of Christmas Eve crib service attendees: 642.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 4 REVIEW OF THE YEAR All Saints exists to worship God, to spread the Word and to serve our community. Our adopted vision is that All Saints will be a loving church accessible to all including children and youth, which is active in the heart of the community and where all can grow their gifts and faith in God. Formal worship continued several times each Sunday, often led by our highly talented choir, and on weekdays with morning prayer, evening prayer and regular communion services, as well as in residential homes and in individual homes. Attendances at Wednesday Mums and at Messy Church (alternate Tuesdays) continue to grow. As usual, the year also saw a very full programme of baptisms. On the staff front, we were delighted to welcome The Revd. Anna Harwood as our new Associate Priest in July. Anna has, in a short time, made very significant contributions to the life of the parish. We have also formally repositioned our Director of Music Richard Smith as a member of staff, working nearly full-time for All Saints on the programmes described below. Derisley Brittain, the Cornerstone caretaker, has also become a part-time member of staff. Finally we were delighted to host the marriage of our Youth Leader Kat to her new husband Alan. Much time was spent by the PCC and the congregation on deciding the content for a new Mission Acton Plan. This included two open forums for all church members. The result is a set of four focus areas and, linked to each, a set of detailed objectives that will drive the church's thinking over the years ahead. The objectives are: Provide opportunities to learn so we may grow spiritually both personally and as a church Provide different types of worship to make ourselves more approachable to the wider community in Wokingham Encourage all young people to grow in faith by making it relevant to them All Saints Church to be at the heart of the community, and well known as active citizens Music played a significant part in the thinking of the church this year. 2013's initiatives of an informal music group and a nave choir continued during 2014. In addition a Children's Choir Club was started, meeting not in church but in All Saints School, designed to 'catch' youngsters and to initiate them into the pleasures of choral singing. A sizeable programme of music events, open to the public. These included: A spring series of baroque concerts A summer music festival concentrated into just a few days An autumn series of baroque concerts, which will extend into 2015 A rendition of Handel's "Messiah" in December These were all of high quality and attracted varying levels of attendance, reaching a peak with the Messiah concert. They were mounted as money-raising schemes - see the Financial Review for more details. Our Director of Music was also responsible for the production of a CD of music, featuring the choir of All Saints and the choir of All Saints School, amongst others. This went on sale in December. A successful short trip to Chichester Cathedral was organised for the younger members of All Saints Choir and the choir of All Saints School. In addition, the annual choir week at a cathedral was held this year mainly at Truro Cathedral but also at St Ives. Our Youth Leader Kat Vaughan reorganised the youth work into five exciting groups, called Xplore, Xpand, Xplode, Xtreme and Xpansion. This all exhibits the lively set of activities that is going on to promote Christ's love to up and coming generations. Any walk round Wokingham will drive home the message that this is an expanding town. Houses seem to be going up everywhere and especially in our parish. This represents a wonderful opportunity but also a sizeable challenge in extending a welcome to the new inhabitants and inviting them to All Saints. Many initiatives have been discussed, and several of them are now being put into effect. The Cornerstone once again saw a very active year with a high percentage of hours rented out. The team continued to maintain a high standard of 'service' despite the lack of an identified management team leader. This year saw the expiry of the original leases of the Cornerstone with the Berkshire Counselling Service and the Wokingham Job Support centre. We are pleased that one has already renewed their lease and the other is on their way to do so. The above shows some of the more prominent highlights of the church's year. But there are very many unreported aspects of the church's life, usually involving dedicated people pouring effort in. All because of their love for their Lord and because they want to tell other people the wonderful news of Jesus Christ.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 5 FINANCIAL REVIEW The General Fund had a deficit of 11,579 this year (2013 - deficit 6,670) which is extremely worrying, especially when coupled with the underlying deficit in the Youth Worker fund of nearly 14,000 (as described below). As was pointed out last year, the fact that the church is failing to match its routine expenditure with routine income is a matter of deep concern. The continuing deficit is eroding our reserves and the situation cannot go on for many more years without drastic consequences. The church devoted much effort and thought to its music programme in 2014, partly but not wholly as a fund-raising initiative. It is therefore appropriate to review the financial aspects: The concerts programme lost 3,831 over the year, once an allocation of the Director of Music's salary has been incorporated to allow for his work in running the programme. The Esme Few Fund attracted donations (including tax relief) of 12,083 and paid for 6,980-worth of music activity. In addition, the fund was also both the sponsor and the beneficiary of a CD recording for which the full financial picture will emerge next year. The Music Fund attracted donations (including tax relief) of 2,131. This new fund attracts income mainly from the 'Friends of All Saints Music' and exists to support music generally in All Saints. The choir's own money was in deficit by 486 but coupled with the large overspend from 2013 the overall deficit in the fund is 1,850. Since 2011, General Fund expenditure on (non-concert) music has risen by 7,928 to 15,736. This does however need to be viewed in the light of the increased number of such activities undertaken by the Director of Music, such as for example work with All Saints School. Back to the General Fund. This year the Parish Share actually fell, for two reasons. Firstly the initially-stated demand on us from the diocese (through the deanery) decreased by 6,116. Secondly we were rewarded by a new diocesan direct-debit scheme, saving us a further 1,331. We also benefitted from a one-off carry-over of 2013's Mind The Gap appeal to the extent of 1210. But to counter this, pledged giving actually fell by 1.2% when we needed it to rise substantially. This accounts for the gloomy deficit of 11,579, which reduces the General Fund reserves to just over 33,000 or three year's handling of the deficit. For 2015, the parish share is relatively level so the opportunity must be taken to improve our General Fund finances. The stated deficit in the Youth Worker fund is 3,028. But, as last year, special factors mask an even worse position: The Helen Hall Trust (in the care of the Rector and churchwardens) contributed the interest it received this year ( 3,216). The Helen Hall Trust contributed also capital to the tune of 7,500. Although the Helen Hall Trust will continue to provide the support just described into the foreseeable future, the truth is that the youth work ought to be financed out of normal church income. Other events of note this year comprise: 1. The Parish Share is our parish's contribution to the costs of the diocese; these costs include diocesan ministers' stipends (including our own clergy's stipends), clergy training, clergy housing, diocesan administration, and some national church costs. The policy at All Saints is to meet our Parish Share obligations in full; we again succeeded in this aim. This year the share was 131,949 (2013: 139,396). In 2015, the Parish Share will compute to be 132,163 which means a tiny 0.16% increase on the 2014 number. 2. All Saints lays great store by its record of donating money to Christian-linked organisations. In 2014 this amounted to 20,727 (2013-21,576). Of this 17,838 (2012-18,958) was given under our church's tithing scheme. 3. Difficulties with the tenancy of one of our cottages resulted in problematic income this year. This has been carefully monitored by church officers and the PCC, with hopes for a resolution in 2015. 4. Investment performance was surprisingly down. Overall our investments (dividends, interest and capital movements) returned 8,783 compared to 11,100 in 2013. Helen Hall Trust donated interest is excluded from these figures. 5. The Cornerstone achieved another pleasing operating surplus of 19,751 (2012-19,806) which enabled the normal transfers due under policy into the Maintenance and Refurbishment Funds to be met.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 6 RISK ASSESSMENT The PCC recognises that in relation to 'Risk Assessment', risk is defined as "the threat of any action or event which will adversely affect an organisation's ability to achieve its objectives and execute its strategies". It also accepts that the term 'risk' can include any circumstances that may, or do, have an adverse effect, and is wider than financial matters. 'Risks' relate not only to the negative consequences of a threat, but also to the impact of not taking advantage of opportunities. The PCC recognises it requires a practical Health and Safety Policy covering activities for both the church, its surrounding grounds and the Cornerstone building. This is reviewed on a regular basis. An Accident Book is maintained. The contents and obligations of the Equality Act 2010 and the Data Protection Acts 1988 and 2003 are known and complied with to the best of the PCC's ability. The PCC is aware of its responsibilities in respect of the Regulatory Reform (Fire Safety) Order 2005 in its requirement to carry out a fire assessment to identify any possible dangers and risks, to take action to minimise the risks and to create a plan to deal with any emergencies, and also to write up and keep a record of its findings and to review its assessment annually. The PCC has appointed the churchwardens to be the responsible persons to put these things into operation. There is a Protection Policy in place in respect of children and vulnerable adults. Checks have been and are made with the Disclosure and Barring Service (formerly the CRB) in respect of persons dealing regularly with young people and vulnerable adults. The PCC-appointed officers for this are Mrs Judi Arnold and Mr David Chapman. Whilst it is impossible to eliminate all risks and their consequences, efforts are constantly made to minimise such occurrences.. RESERVES POLICY A revised Reserves Policy was approved by the PCC early in January 2013. It is PCC policy to maintain a balance in the General Fund, equivalent to 25% to 45% of its annual income, to cover emergency situations that may arise and to provide working capital. It is also PCC policy to maintain balances in other designated funds, according to each fund's purpose. Notable are the Maintenance Fund ( 15,000-90,000) and the Cottages Fund ( 10,000-20,000). Assessments: GENERAL FUND 14.6% of Annual Fund Income Too low (s/be 25%) BUILDINGS MAINT.& REPAIR 45,224 OK COTTAGES 26,315 Far too high (s/be max 20,000) CORNERSTONE REFURBISHMENT 80,598 Too low (s/be min 90,000) CORNERSTONE MAINTENANCE 15,011 Too high (s/be max 15,000) CORNERSTONE DAY-TO-DAY 20,820 Too high (s/be max 20,000) Other, more minor, funds were in accordance with policy.. FUTURE DEVELOPMENTS During 2015 the PCC will continue to support the Parish Clergy and all others who have a position of leadership and responsibility in the life of the parish. The PCC will be: Seeking significantly to advance the plans adopted as the church's Mission Action Plan Exploring and putting in place programmes to seize opportunities presented by the housing developments around the town Moving the music programme onto a sound financial footing Generally open to new suggestions and initiatives in promoting the Gospel of Our Lord Jesus Christ in the local community, to the glory of God and the building up of His kingdom here on earth.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 7 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2014
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 8 BALANCE SHEET AS AT 31st DECEMBER 2014 On 17th March 2015 the Parochial Church Council adopted these accounts; they were signed on its behalf by: THE REVD. ANNA HARWOOD Chair of the Meeting STEPHEN R SMITH PCC Treasurer
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 9 ACCOUNTING POLICIES The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP 2005. 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 the PCC that are not subject to any restriction 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. Restricted funds are those funds that must be spent for a particular purpose as specified by the donor. By policy, the PCC must approve the transfer of money between designated Funds. Endowment funds are funds given in perpetuity, the income from which may be used only for the specified purpose. The capital may not be spent. These funds must be held for us by the Diocesan Trustees (Oxford) Ltd. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. INCOMING RESOURCES Voluntary income and capital sources Collections and donations are recognised when received by or on behalf of the PCC. Planned giving receivable under pledge is recognised only when received. The church reclaims tax on gift-aided donations and this represents a substantial element of the church's income. Gift-aid unclaimed at the yearend is estimated and accrued. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable, and its ultimate receipt by the PCC is reasonably certain. Other income Income from the letting or hire of church premises is recognised when the amounts are due. Income due to other parties (Altered This Year) Most income due to other parties is immediately recorded as a liability and is not recorded as the PCC's income. Examples are * expenses from funeral directors that are intended for clergy, and * clergy fees for weddings (these are remitted directly to the diocese). However charitable income on which the PCC claims gift-aid benefits is now recorded as income (and subsequent expense) to comply with HMRC rules. Income from investments Dividends and interest are accounted for when receivable. Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on the revaluation of investments at 31st December. RESOURCES USED Grants Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Activities directly relating to the work of the Church The diocesan parish share is accounted for when due. Any unpaid parish share at 31st December is provided for in these financial statements as an operational (though not a legal) liability and is shown as a creditor in the balance sheet. FIXED ASSETS Consecrated property and movable church furnishings Consecrated and beneficed property of any kind is excluded from the financial statements by Section 10.2 of the Charities Act 2011. Movable church furnishings held by the Rector and churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for 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 1996 there is insufficient cost information available and therefore such assets are not valued in the financial statements. All expenditure in the year on consecrated or beneficed buildings and moveable church furnishing, whether maintenance or improvement, is written off as incurred. Wiltshire Road properties The buildings at 1 & 3 Wiltshire Road are investment properties. These are included in the balance sheet at their estimated market value. No depreciation is provided on these properties. The Cornerstone property The Cornerstone building was capitalised with effect from 1st January 2006 at a value equal to its total building cost. It is being written down over 50 years on a straight line basis. The land it occupies was already owned by the PCC, and is excluded from the capitalised value. Furniture and fittings Furniture, fittings used within the Cornerstone and other church premises are depreciated over a straight-line basis over 10 years. Most relevant items acquired for the Cornerstone were capitalised en masse as at 1st January 2006. The solar panels on the Cornerstone were acquired in 2012 and have been capitalised at 50% of their invoice cost, thereby assuming that the other 50% was for installation. Office equipment Individual items of equipment with a purchase price of 750 or more are written down over three years; those of lesser value are written off when the asset is acquired. OTHER ASSETS Investments Investments are valued at market value at 31st December. As there is effectively no market in shares of Traidcraft PLC, they are held in the books at cost value. Current assets Amounts owing to the PCC at 31st December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectible. Amounts owed by the PCC at 31st December are shown as creditors. Short-term deposits include cash held on deposit either with the CBF Church of England funds or at the bank. Stocks on Hand (New This Year) Stocks of items for sale are valued at their shared production cost provided their eventual sale is deemed likely.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 10 NOTE 1. INCOMING RESOURCES NOTES TO THE FINANCIAL STATEMENTS
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 11 NOTE 2. RESOURCES EXPENDED
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 12 NOTE 3. STAFF COSTS 2014 2013 Gross wages and salaries 78,783 60,283 Employer's NI 3,926 4,129 Number equivalent of full-time employees at year-end 3.1[SRS1] 2.5 Number of employees with emoluments between 10,000 and 60,000 3 3 The Rector and other clergy, who are on PCC ex officio, received reimbursement of 3,037 (2013-2,146) for their general travel, postal, telephone and stationery expenses and various contributions to their book acquisition expenses (figures include accruals). The Treasurers and Churchwardens were reimbursed postal and similar expenses incurred for the purposes of PCC activities. Some members of the PCC are also members of the choir and bell-ringers, and some act as vergers for weddings, funerals and church-hires; they receive a small remuneration for these duties. There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties. NOTE 4. TANGIBLE FIXED ASSETS ACTUAL / DEEMED COST/ VALUATION Investment Freehold land Furnishings Computer & Total properties & buildings & fittings similar kit As at 1st Jan 2014 240,000 1,117,640 24,914 9,022 1,391,576 Additions - - - - - Disposals - - - - - As at 31st Dec 2014 240,000 1,117,640 24,914 9,022 1,391,576 DEPRECIATION As at 1st Jan 2014-198,181 13,733 8,759 220,673 Charge for the year - 22,426 2,444 263 25,133 Depr'n on disposals - - - - - As at 31st Dec 2014-220,607 16,177 9,022 245,806 NET BOOK VALUE As at 31st Dec 2013 240,000 919,459 11,181 263 1,170,904 As at 31st Dec 2014 240,000 897,033 8,737-1,145,771 Assets in the Form of Buildings The PCC owns the buildings at 1 and 3 Wiltshire Road. The properties were estimated, in 2002, at a joint value of around 240,000. The members of the PCC are not aware of any material change since the last valuation. The Cornerstone and most of its furnishings and fittings were capitalised in the church's books as at 1st January 2006. The building is being written down over 50 years; the furnishings and fittings are being written down over 10 years. The solar panels on the Cornerstone were acquired in 2012 and have been capitalised at 50% of their invoice cost, thereby assuming that the other 50% was for installation. The minority interest held for a period of ten years only by the Berkshire Counselling Service has now expired. NOTE 5. INVESTMENT FIXED ASSETS FOR USE BY THE PCC Market / book value at 31st Dec 2013 57,771 Gain/(loss) on annual revaluation 1,652 Purchases and disposals - Value at 31st Dec 2014 59,423
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 13 NOTE 6. DEBTORS / ACCRUED INCOME / PREPAYMENTS 2014 ( ) 2013 ( ) Tax recoverable on gift-aid receipts 8,450 10,553 Debtors 1,711 - Other prepayments 10,026 9,386 Accrued income 2,188 5,167 Total 22,376 25,106 NOTE 7. SHORT TERM INVESTMENTS 2014 ( ) 2013 ( ) Cornerstone COIF Deposit Acct 102,213 85,818 CBF deposit PCC General 182,108 181,201 CBF deposit May Harwood 263 262 CBF deposit CCBells + Tower 24,548 24,425 Total 309,133 291,706 NOTE 8. CASH AT BANK AND AT HAND 2014 ( ) 2013 ( ) HSBC Current Account 19,398 44,399 HSBC Deposit Account 17,718 10,706 HSBC Appeal Account 2,914 1,571 Related Organisations' bank+cash 6,353 8,415 Choir Current Account 2,220 Included in above Choir Deposit Account 1,049 Included in above Cornerstone Day-to-Day Bank Account 16,185 13,760 Petty Cash 40 40 Triodos Bank 105,539 103,673 Virgin Bank 105,324 103,673 Total 276,738 286,238 NOTE 9. CREDITORS / ACCRUED EXPENDITURE / DEFERRED INCOME 2014 ( ) 2013 ( ) Due within one year Creditors 6,154 11,162 Grants payable 15,592 15,250 Loans payable 199,846 207,346 Deferred income 2,742 4,586 Accrued liabilities 4,520 5,837 Total 228,854 244,182 Due after more than one year Creditors 1,990 2,010 Total 1,990 2,010 The Grants Payable element above is voluntary (a decision by the PCC). The Loans Payable element above records an interest-free loan made to the PCC by the Rector & Churchwardens. The Accrued Liabilities include 1,075 for gas supplies and 1054 for photocopying charges. Creditors include 2,488 voluntary collections yet to be disbursed and 2,769 collected fees owed to the diocese.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 14 NOTE 10. TRANSFERS Various transfers between general, designated and restricted accounts are made each year. In 2014, these were: 10,000 was transferred from the Cornerstone Day-to-Day Fund to the Cornerstone Refurbishment Fund. 1,138 was transferred from the Cornerstone Day-to-Day Fund to the Cornerstone Refurbishment Fund to represent the electricity saved by the solar panels. 2,000 was transferred from the Cornerstone Day-to-Day Fund to the Cornerstone Maintenance Fund. 6,000 was transferred from the Cottages Fund to the Church & Churchyard Maintenance Fund. 216 was transferred from the Choir Designated Fund to the Choir Restricted Fund to make up the loss on the Chichester trip. NOTE 11. ANALYSIS OF NET ASSETS BY FUND Unrestricted General ( ) Designated ( ) Restricted ( ) Endowment ( ) Total ( ) Tangible Assets 240,000 905,771 1,145,771 Investments 627 30,412 28,385 59,423 Current Assets 47,400 278,295 283,152 608,846 Liabilities (20,100) (4,612) (206,132) (230,844) Internal Debts 5,099 (5,254) 155 - Total 33,026 508,429 1,013,357 28,385 1,583,197 NOTE 12. FINANCIAL COMMITMENTS The Parochial Church Council has approved (but not signed contracts for) two significant items of expenditure: Up to 10,030 for the building of a Garden of Remembrance - to be funded from the Graves Fund Up to 35,000 for the construction of a glass screen in the west arch of the church - to be funded from the two remaining Celebrating Community funds. At shown in Note 14 overleaf, both items of expenditure are fully funded. Besides this item, the Parochial Church Council had, at 31st December 2014, neither approved nor contracted for any capital expenditure nor any significant repairs expenditure. NOTE 13. OTHER STATISTICS The following figures are needed for deanery and diocesan purposes; they supplement the figures elsewhere. Grants received from local authorities towards maintenance of burial grounds 1,700 Grants received/income raised by special appeal towards the costs of new buildings/extensions NIL Income from insurance claims [***] NIL Cost of fundraising activities 18,058 Income raised for a specific purpose such as a named charity or a disaster appeal [*] 5,944 Income from weddings, funerals, etc that is passed directly on to the diocese [**] 8,173 [*] As a new policy this year, these items are included in All Saints' accounts because the small print of HMRC regulations insist that they do so in order to claim gift-aid.. [**] These items are additional to All Saints' accounts because by policy income which is directly due to other parties (such as this) is immediately recorded as a liability and is not recorded as the PCC's income. [***] This item is additional to All Saints' accounts because by policy insurance-claim income is recorded against the expenditure incurring the claim and is not recorded as the PCC's income.
PARISH OF ALL SAINTS WOKINGHAM 2014 PAGE 15 NOTE 14. ANALYSIS OF FUNDS