In general, the income of the fund in 2009 was lower than in the previous year, as the accounts show. Perhaps this was to be expected in a fairly turbulent financial market. The Investment Income (from both dividends and interest) held up quite well at £1,582, though the capital value suffered a loss of £980. Even so, this was more than matched by the income. The total Income was £3,998 – down by £2,456.
The Expenditure was £311 more this year, mainly due to three grants being made (details in Note 2). This leads to the Income exceeding the Expenditure by about £43, in comparison with £5,800 last year.
The highlight of the year was a successful reclaim of income tax on Gift Aid donations of £483. In the balance sheet this is used to reduce the Sundry Debtors to £112. I am hopeful of clearing this in another reclaim payment of 2010.
The Net Assets have increased by only £47, but leads to roundly £44,290 being uncommitted to specific use (see Note 4).
Thus the fund remains healthy and well able to continue aiding the PCCs in keeping the bells of the Diocese in good order.
| 2009 | 2008 | ||||
| Income |
|
£ |
|
|
£ |
|
|
|
|
|
|
|
| P.C.C. Affiliation fees |
1,138.00 |
1,213.00 |
|||
| Donations and Fund Raising - Note 1 |
387.42 |
619.55 |
|||
| Gift Aid Scheme: Donations |
442.50 |
554.73 |
|||
| Grant from General Fund |
1,000.00 |
1,000.00 |
|||
| Peal Fees |
91.00 |
507.00 |
|||
| Bank Interest |
35.09 |
32.05 |
|||
| Investment Income - CBF |
1,582.77 |
1,792.30 |
|||
| Gain (+) or Loss (-) in Value of Investments |
-980.08 |
736.19 |
|||
| Cancellation of grant – Note 2 |
300.00 |
- |
|||
| Cheque banked in error |
2.00 |
- |
|||
| Total receipts |
3,998.70 |
6,454.82 |
|||
| Expenditure |
£ |
£ |
|
£ |
£ |
| Grants - Note 2 |
3,800.00 |
300.00 |
|||
| Bell Consultants' Expenses | 63.54 |
253.75 |
|||
| BRF Secretary's Expenses | 72.71 |
76.36 |
|||
| BRF Treasurer's Expenses | 16.74 |
152.99 |
13.63 |
343.44 |
|
| Cheque error: new cheque issued |
2.00 |
- |
|||
| Total Expenditure |
3,954.99 |
643.44 |
|||
| Excess of income over expenditure |
43.71 |
5,811.38 |
|||
|
BELL REPAIR FUND BALANCE SHEET - 31ST DECEMBER 2009 |
|||||
| 2009 | 2008 | ||||
| Current assets |
£ |
£ |
|
£ |
£ |
| Investments - CBF | 41,378.30 | 40,775.61 | |||
| Cash at Banks and in Hand | 6,398.90 | 3,174.62 | |||
| Sundry Debtors – Note 5 | 112.95 | 47,890.15 | 596.21 | 44,546.44 | |
| Current liabilities | |||||
| Unpaid Grants - Note 2 | 3,600.00 | 300.00 | |||
| Sundry Creditors | 0.00 | 3,600.00 | 0.00 | 300.00 | |
| Net assets | 44,290.15 | 44,246.44 | |||
| Represented by |
|
£ |
|
|
£ |
| Accumulated Fund | |||||
| Brought Forward 1st January |
44,246.44 |
38,435.06 |
|||
| Excess of Income over Expenditure for the Year |
43.71 |
5,811.38 |
|||
| Carried Forward 31st December |
44,290.15 |
44,246.44 |
|||
Note 2 – Status of Grants in 2009
|
Unpaid 1st Jan. |
Cancelled in year |
Granted in year |
Paid in year |
Unpaid 31st Dec. |
|
| £ | £ | £ | £ | £ | ||
| New Whittington PCC | 300.00 | 300.00 | ~ | ~ | ~ | |
| Breadsall PCC | ~ | ~ | 200.00 | 200.00 | ~ | |
| Killamarsh PCC | ~ | ~ | 100.00 | ~ | 100.00 | |
| Shirland PCC | ~ | ~ | 3,500.00 | ~ | 3,500.00 |
|
| 300.00 | 300.00 | 3,800.00 | 200.00 | 3,600.00 |
Note 3 - Status of Loans in 2009.
During the year a loan of £4,000 was offered to Shirland.
At the end of the year there were no other loans on offer or due for repayment.
Note 4 - Uncommitted Cash at the end of 2009.
After paying outstanding grants and creditors (and ignoring debtors) the readily available cash is
£44,177.20.
Of this £4,000 is committed as a loan (see Note 3) leaving £40,177.20 uncommitted to specific use.
Note 5 – Sundry debtors at the end of the year.
These are outstanding tax claims of £596.21, reduced by a tax refund of £483.26 received in 2009
We have examined the above Income and Expenditure Account and Balance Sheet, which are in accordance with the books, vouchers and information made available to us.