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The Parish Office, The Cornerstone, Norreys Avenue, Wokingham RG40 1UE Tel: 0118 979 2797 Email Address: [email protected] Registered Charity Number 1127585

PPaarriisshh ooff AAllll SSaaiinnttss

WWookkiinngghhaamm Diocese of Oxford

ANNUAL

ACCOUNTS

2014

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 SUMMARY ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31st DECEMBER 2014

ADMINISTRATIVE INFORMATION

Status: The Parish of All Saints Wokingham is part of the Deanery of Sonning

and of the Diocese of Oxford.

Correspondence Address: All Saints' Parish Office, The Cornerstone, Norreys Avenue, Wokingham, RG40 1UE

Bank: HSBC Bank plc., 1 Market Place, Wokingham, RG40 1AL

Independent Examiner: The Revd. Alan A. Clements, 15 Carleton Road, Gt.Knowsley, Chorley PR6 8TQ

Legal Status 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 Mr Paul Armitage (from 2014 APCM)

Members 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)

Co-opted Mr Ian Brooks * (to 2014 APCM)

The Revd. Colin James

Appointed 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.


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 Sets direction for the work of the Cornerstone management team in providing the

Cornerstone building's facilities to the community and to the church.

Finance Committee Responsible for oversight of all aspects of the finances of the PCC and their

associated administration.

Standing Committee 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.

Stewardship Committee 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.


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.


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.


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.


STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2014


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


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 year-

end 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.


NOTES TO THE FINANCIAL STATEMENTS

NOTE 1. INCOMING RESOURCES


NOTE 2. RESOURCES EXPENDED


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

Investment

properties

Freehold land

& buildings

Furnishings

& fittings

Computer &

similar kit

Total

£ £ £ £ £

ACTUAL /

DEEMED COST/

VALUATION

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

AAsssseettss iinn tthhee FFoorrmm ooff BBuuiillddiinnggss

• 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


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.


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.


NOTE 14. ANALYSIS OF FUNDS

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