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

£73k

£41k£9k

£14k

£25k

£15k

£14k

£11k£6k £10k

Expenses

Parish share Charitable Giving Maintenance Services

Hall ICN Youth work Office/Admin

Activities Others

136; 60%

22; 10%

53; 23%

15; 7%

Income

Voluntary Gift AidFund raising Church activities

£225,740 £ 217,619

2014 Balance Sheet

St Giles PCC 2014

.

Hall Building £300k

Net Receivables £ 6k

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’

UnrestrictedFunds

Funds available to spend without restriction

Designated Funds

Funds set aside by the PCC for specific purpose

RestrictedFunds

Funds which may only be used for specific purpose , often specified by the donor

EndowmentFund

Used to hold assets which may not be sold- such as a church hall

St Giles PCC 2014

Funds Accounting

St Giles PCC 2014

PCCAccounts

Mission Action Plan Church Hall Rukiga ICN General 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 2014Unrestricted Restricted Endowment

General Fund 734MAP 75,207Church Hall 20,901 299,691

Fabric 3,375

Rukiga 23,847

ICN 1,917

Others 9,854 5,156

Total Funds 85795 55,196 299,691

St Giles PCC 2014

Total FUNDS £ 440,682

Mission Action Plan(Designated Fund)

• 2014 SummaryLegacy income £ 20

kAV equipment depreciation -£ 4 kTransfer to General Fund-£ 15 k

Net income £ 1k

• Closing Fund

Cash £75 k

Total Fund value £75 k

ObjectivesFurtherance of MAP objectives including wider Mission in the Dioceseand locally in the Parish

Larger maintenance projects

St Giles PCC 2014

Church Hall(Restricted Fund)

• 2014 Summary

Hall lettings £38kRunning costs -£22 kYouth work -£ 7kNet 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 £ 15kFund raising income(net) £ 2kDonations /costs -£ 12k

Net income £ 5k

• Closing Fund

Cash £ 23kGift 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 kAdvertising Income £ 11kPrinting and Postage - £ 15k

Net cost -£ 2 k

• Closing Fund

Cash £ 12 k2015 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 Year 2014 Actual 2015 Budget

Stewardship 91 87 89

Tax recovered 21 21 22

Other donations 13 11 8

Fees & Fundraising 10 10 11

TOTAL INCOME 135 129 130St Giles PCC 2014

£000’s

General Fund Expenses

2013 Prior Year 2014 Actual 2015 Budget

Common Fund 88 92 92Donations 9 8 8Church and Churchyard running costs

14 11 16

Services and clergy 10 12 10Youth Work 14 6 8Office, Admin, Stationery 15 15 14TOTAL EXPENSES 150 144 148

St Giles PCC 2014

£000’s

General Fund Summary2013 Prior Year 2014 Actual 2015 Budget

Income 135 129 130

Expenses 150 144 148

Net Deficit (15) (15) (18)

Support fromMAP

15 15 18

Change in Fund

- - -

Closing Fund 1 1 1

St Giles PCC 2014

£000’s