St Giles Church Ickenham Financial Statements 2014 St Giles PCC 2014.

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Presentation transcript:

St Giles Church Ickenham Financial Statements 2014 St Giles PCC 2014

Financial Statements St Giles PCC 2014 Charities Act 2011 SORP 2005 Church Accounting Regulations Independent Examiner Accounting Standards Record all transactions for which the PCC are responsible

2014 Result St Giles PCC 2014 £225,740£ 217,619

2014 Balance Sheet St Giles PCC 2014 Total Funds £ 440,682 Cash and Deposits £135k

Fund Accounting The PCC is not always able to spend money at its own discretion Often income is received for specific purposes and must be spent only for those purposes The accounts are sub- divided into separate funds, many of which are ‘ring-fenced’ Unrestricted Funds Funds available to spend without restriction Designated Funds Funds set aside by the PCC for specific purpose Restricted Funds Funds which may only be used for specific purpose, often specified by the donor Endowment Fund Used to hold assets which may not be sold- such as a church hall St Giles PCC 2014

Funds Accounting St Giles PCC 2014 PCC Accounts Mission Action Plan Church HallRukigaICNGeneral Fund Church Fabric and Other Funds Majority of transactions in 5 major funds 16 active funds in 2014 overall Every transaction must be allocated to a fund

Closing Funds 2014 UnrestrictedRestrictedEndowment General Fund 734 MAP 75,207 Church Hall20,901299,691 Fabric3,375 Rukiga23,847 ICN1,917 Others 9,854 5,156 Total Funds ,196299,691 St Giles PCC 2014 Total FUNDS£ 440,682

Mission Action Plan (Designated Fund) 2014 Summary Legacy income £ 20 k AV equipment depreciation -£ 4 k Transfer to General Fund-£ 15 k Net income£ 1k Closing Fund Cash£75 k Total Fund value£75 k Objectives Furtherance of MAP objectives including wider Mission in the Diocese and locally in the Parish Larger maintenance projects St Giles PCC 2014

Church Hall (Restricted Fund) 2014 Summary Hall lettings £38k Running costs-£22 k Youth work-£ 7k Net income £ 9 k Closing Fund Cash £ 21 k Total Fund value£ 21 k Objectives Financing the upkeep and maintenance of the hall To raise income for the church Support for Youth Work St Giles PCC 2014

Rukiga (Restricted Fund) 2014 Summary Donations received£ 15k Fund raising income(net) £ 2k Donations /costs - £ 12k Net income£ 5k Closing Fund Cash£ 23k Gift aid due £ 1k Total Fund value£ 24k Objectives Specific fund raising to finance various projects in Uganda including sponsorship of orphan children, KWID and Kamwesi school St Giles PCC 2014

Ickenham Church News (Restricted Fund) 2014 Summary Donations£ 2 k Advertising Income £ 11k Printing and Postage - £ 15k Net cost -£ 2 k Closing Fund Cash £ 12 k 2015 revenue -£ 10 k Total Fund value £ 2 k Objectives The aim is to break even so self-financing the production of the Church News publication St Giles PCC 2014

General Fund St Giles PCC 2014 Unrestricted Church Running Costs Restricted Funds not available Challenge – to break even

General Fund St Giles PCC 2014 Planned Giving Gift Aid Donations Fees and fund raising Common Fund Charities Church upkeep Services, Clergy Youth work Admin Balance the Books !

General Fund Income 2013 Prior Year2014 Actual2015 Budget Stewardship Tax recovered Other donations Fees & Fundraising TOTAL INCOME St Giles PCC 2014 £000’s

General Fund Expenses 2013 Prior Year2014 Actual2015 Budget Common Fund 8892 Donations 988 Church and Churchyard running costs Services and clergy Youth Work 1468 Office, Admin, Stationery TOTAL EXPENSES St Giles PCC 2014 £000’s

General Fund Summary 2013 Prior Year2014 Actual2015 Budget Income Expenses Net Deficit(15) (18) Support from MAP Change in Fund --- Closing Fund111 St Giles PCC 2014 £000’s