Every year, every church in the country is asked to complete this important form which extracts key information from your accounts in a standard format. The resulting statistical analysis is used both locally (at deanery and diocesan level) and nationally in planning and decision making. If possible this return should be completed and submitted online using the Church of England Online Parish Return System https://parishreturns.churchofengland.org/. The “Online User Guide” and the “Annual Return of Parish Finance 2017” are also accessible from this site; should you require login details then please contact Yvonne Thompson. Please note that the deadline for submission of the Finance Return is 31st May 2017.
Year End Checklist
We recommend you use the 2017 Checklist, which you can download from the Accounting and Returns page on the website, to ensure that you have fully completed the various year end accounting tasks correctly. Please return this to the diocese, attached to your accounts.
‘PCC Accountability: The Charities Act 2011 and the PCC” is a book containing accounting advice for the preparation of PCC accounts. It also includes model sets of accounts (including Annual reports) for both Receipts and Payments and Accruals accounts. The 5th edition (updated for the new requirements under SORP2015) is available as a book, e-book or online at the Church of England website.
In September 2017, the Charity Commission announced an updated set of directions that Independent Examiners are required to follow. The changes include three new directions:
- Direction 2 – examiner independence. Examiners must check for any conflicts of interest that may prevent them from carrying out the independent examination;
- Direction 7 – disclosure. Only accounts prepared on the Accruals basis are affected this. This requires independent examiners to ensure that there is proper disclosure of conflicts of interest and disclosure of related party transactions; and
- Direction 9 – financial sustainability and going concern. This requires examiners to check whether the trustees have considered the charity’s financial circumstances when preparing the accounts; and for Accruals accounts only, whether the trustees have made an assessment of the charity’s position as a going concern.
There is full guidance on these in the CC32 Guide for Independent Examiners and further details on our Auditors and Independent Examiners page, including a revised Independent Examiners report for 2017.
Each PCC must prepare a single Annual report and Accounts including all churches within the parish using either accruals or receipts and payments basis for all figures (please forward a copy to Yvonne Thompson when available). The income of the whole parish must be included when calculating thresholds of charity registration (£100,000) or accruals accounting (£250,000).
Thank you for all you are doing at this busy time of year.