St. Jamesí Cardington Ė Annual Financial Report for 2013
The accounts for the period January 1st 2013 to December 31st 2013, which have been audited by Brian Iverson since they were presented at the PCC meeting on March 12th 2014. They need to be adopted at the AGM.
The overall financial position worsened again in 2013 our total assets fell from £36785.48 to £35271.63 This represents an decrease of £1513.85. Gift aided income from collections and S.O.s was down by £629.70 non gift aided collections were up to £4476.25, which includes £1263.46 from funerals whose proceeds have been sent on to various charities. Other major lots of income include the rent for our field, a refund of tax £1374.28 from HMRC (a decrease of £1094.23 because it relates to a shorter time span) and there was no donation received from the magasine. Our fundraising improved on the previous year by just over £500.The Gardens Open was down to just over £2000 but the fete went up to £3500 without any subsidies. The Festival of Churches was an additional fundraiser and we had a Harvest Supper. Our major outgoings of the Parish Share, insurance and utility costs continue to rise.
The gift aid campaign mentioned in last yearís report has not happened for a number of reasons. Firstly we waited for the bank and then it seemed difficult to find the right time which didnít coincide with other fund raising activities. The situation has changed to some extent as HMRC has introduced a small gifts scheme which allows us to claim on any collection monies providing individual donations do not exceed £20 and there are at least 20 people present at the service. Money paid directly to the bank cannot be included. This means that donations from non-tax payers will be eligible for tax relief providing the money is given in cash at service collections. We still need to continue to encourage all taxpayers who support St. James to use the gift aid scheme as we need a minimum number to be able to make the other claim. I have claimed nearly £1000 in this new scheme on last yearís collections but this is obviously part of the income for the current year. Low interest rates continue to have a major impact on interest earned on our investments and also the amount we have received from the Chapel Lands Trust.
We continued to support the SHCT £1311 through the Open Gardens and the Festival of Churches events. The harvest auction raised £520 and we sent £130 from the proceeds to Mayfair and the Severn Hospice. Another significant donation was £100 to the Phillippines DEC appeal. Donations from particular services included £116 to the Royal British Legion from Remembrance Sunday.
We have continued to meet our commitments but have used all our surplus in the current account. I withdrew £2000 from the deposit account to provide a cushion hoping that I would be able to repay it later in the year but unfortunately this was not possible and our bank balance at the end of the year of £2311.26 with £132.50 of outstanding cheques show how tight the margins were and indeed since January this balance has reduced further. I would like to thank everyone for their continued support.
Last year I announced my intention to step down as treasurer at this AGM but no one has been forth coming as a volunteer to take over. I have done this job for over six years and would like a break and feel it is time for someone else to take their turn. It seems the only way to effect a change is to walk away as some others have done. I am quite prepared to support a replacement and also continue to deal with gift aid and HMRC. If no one has stepped forward by the September meeting then I am afraid I will resign regardless.
Jackie Tonks PCC treasurer