## **ANNUAL REPORT** ## **and** ## **FINANCIAL STATEMENTS** **of the** **Parochial Church Council of the Ecclesiastical Parish of Holy Trinity** **Coventry** ## **Registered Charity number 1126698** **for** **THE YEAR ENDED** **31st DECEMBER 2024** INCUMBENT Revd Canon Richard Hibbert BANK INDEPENDENT EXAMINER HSBC Bank Plc., 133-135 Daventry Road Coventry CV3 5HD K. Nuamah 17 Castle Close Coventry CV3 5JA Page 1 of 19 ## **Parochial Church Council of the Ecclesiastical Parish of Holy Trinity** ||**Coventry**|| |---|---|---| |**TABLE OF CONTENTS**||**Page Number**| |Trustees Report||3-7| |Independent Examiners Report||8| |Statement of Financial Activities||9| |Balance Sheet||10| |Cash Flow Statement||11| |Notes to the Financial Statements||12-19| Page 2 of 19 ## **Parochial Church Council of the Ecclesiastical Parish of Holy Trinity Trustees Annual Report for 2024** ## _**Administrative information**_ Holy Trinity Church is situated in Broadgate in the centre of the city of Coventry. It is part of the Diocese of Coventry within the Church of England. The correspondence address is Holy Trinity Church Office, 5A Priory Row, Coventry, CV1 5EX. ## **Membership** PCC members who have served from 1[st] January 2024 until 31[st] December 2024 are: |Incumbent & chair|Revd Richard Hibbert|| |---|---|---| |Associate Vicar|Revd Carolyne Powell|| |Churchwardens|Mr C Howard|| ||Mrs A Jackson|Until APCM 2024| ||Mr N Akinyele|| ||Mr A Selwyn|| ||Mrs J Williams|From 6 October 2024| |Officers of the PCC|Mr M Davies|Vice-Chair| ||Miss K Hunter|Treasurer| ||Mrs K Husband|PCC Secretary| ||Mrs J Wilcockson|Electoral Roll Officer| |Readers|Mr G Wilcox|| ||Mr W Kendall|From Nov 2024| |Representatives of the laity to the Diocesan Synod||| ||Mr P Doggett|From 1 July 2024| ||Mr M Davies|| ||Mr J Kendall|From 1 July 2024| ||Mr J Roy|Until 30 June 2024| |Representatives of the laity to the Deanery Synod||| ||Mrs M Bishop|Until 31 July 2024| ||Mr N Jackson|From October 2024| ||Mr P Doggett|Until 30 June 2024| ||Mr F Desinghraj|From October 2024| ||Mr W Kendall|| |Representatives of the laity to the Parochial Church||Council| ||Miss M Bolledu|From November 2024| ||Mr M Draper|From APCM 2024| ||Mrs A Ehsaan|Until Nov 2024| Page 3 of 19 |Mr C Gnanaraj|| |---|---| |Mrs P Hopkins|Until APCM 2024| |Miss K Hunter|| |Mrs K Husband|| |Mr N Jackson|From APCM 2024| |Mrs C Jupp|Until APCM 2024| |Mr C Jupp|From Nov 2024| |Miss J Odje|Until APCM 2024| |Mrs M Theophilus|From Nov 2024| |Mr M Trewinnard|| |Mr A S Udeh|| |Mr A Umah|From APCM 2024| |Mr E Vasanthakumar|Until APCM 2024| |Mrs J Wilcockson|| |Mrs J Williams|From APCM 2024| |Mr L Wood|| Page 4 of 19 ## _**Structure, governance and management**_ The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a Registered Charity, registered as “The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity, Coventry” number 1126698. The method of appointment of PCC members is set out in the Church Representation Rules. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. All trustees are provided with suitable training resources to enable them to fulfil their roles and responsibilities as trustees. All major risks to which the charity is exposed, as identified by the trustees, have been reviewed, and systems or procedures have been established to manage those risks. The PCC has a close liaison with charities numbered 511277: Holy Trinity (Coventry) Development Trust, and 242056: Holy Trinity Church Estate. From time to time these charities make funds available for works specified by the PCC. The vicar and churchwardens are trustees of charity numbered 528852: Holy Trinity Church Centre. The PCC has a close liaison with charity 1149770: The Old Grammar School Ltd, Hales Street. ## _**Aims and purposes**_ Holy Trinity’s PCC has the responsibility of co-operating with the incumbent, the Revd Richard Hibbert, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the Church building in partnership with the Feoffees (the trustees of charity number 242056: Holy Trinity Church Estate). ## _**Objectives and activities**_ The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at Holy Trinity. The PCC maintains an overview of worship and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament. When planning our activities for the year, the incumbent and the PCC have considered the Commission’s guidance on public benefit, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through: - Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus. - Provision of pastoral care for people living in the parish and members of our congregations. - Missionary and outreach work. To facilitate this work it is important we maintain the fabric of the Church of Holy Trinity. Page 5 of 19 ## _**Achievements and performance**_ ## **Church attendance** All are welcome to attend our regular services. In December 2024 there were 203 people on the Electoral Roll (2023: 178). ## **Review of the year** The PCC met on 6 separate occasions during the year, including an Away Day in July 2024. We desire to be a light for the Gospel and a place where people meet Jesus. This remains our vision and mission, worked out through our Values of Welcome, Warmth, Worship, Witness, Wealth and Walk. The latter is a new addition. Walk holds together and undergirds the other 5 Values. In our Walk with Christ, we seek to be people of welcome, builders of communities of warmth, daily offering worship in thought, word and deed, and so enabling witness to the saving love and redeeming grace of God whilst bringing to bear our wealth, those resources God has given us and invites us to share in building his Kingdom, being lights in this dark world, and places and people through whom others meet Jesus. We have continued our story of growth in 2024 with growing numbers at our weekly services, especially our Festivals of Advent, Christmas, Lent and Easter, as well as an increase in day visitors to the church building. The diversity of our congregations is something we celebrate. “The Table”, led by Revd Carolyne and a team of volunteers, grew strongly in numbers and opportunities to welcome and disciple students and young adults each Sunday to share a meal and study scripture together. We rejoiced in the conclusion of the interim role of Vicar and then the Installation of Revd Canon Richard as our Vicar, and also the licencing of Wilfrid Kendall as a Reader (Licensed Lay Minister). ## **Safeguarding Report** Jesus said, ‘I have come in order that you might have life: life in all its fullness.’ (John 10) A message for all to flourish - children, the vulnerable, ALL of us. In this way, any kind of abuse denies that message. Increasingly, we trust and hope that we shall be able to promote a healthy and safe Church culture. We take responsibility, together, for reporting concerns about any Church related issues, our neighbours, our children’s friends. The responsibility lies with each one of us enabling us as communities to take more care of each other. The P.C.C. approved Policies on Safeguarding and Guidelines. Reviews have been made of Domestic Policy Abuse, Social Media Policy, Mentoring Policy, Risk Assessments. Instead of five yearly checks, we now must renew DBS certification every three years and Safeguarding Training should be refreshed every three years at the latest level obtained. Safeguarding is on the Agenda at every P.C.C. meeting. _Vicki Johnson, Parish Safeguarding Officer._ ## **Volunteers** We would like to thank the Wardens, staff and volunteers for all the work they have done over the past year Page 6 of 19 Financial Review The result for the year shows an operating loss before Investments of £22,293. The investment portfolio increased in value by £1,065. This meantthe year ended with a net loss of £21,228. Reserves Policy At 31st December 2024, the PCC held total reserves of £350,741 of which £247,635 are unrestricted. It is the policy of the PCC to hold unrestricted, undesignated reserves of at least three to six months, operating expenditure and an amount in reserves for major building works which is consistent with the Charity Commission guidelines. The level of unrestricted reserves at 31st December 2024 is sufficientto maintain this. th Approved bythe PCC on 27 October 2025 and signed on their behalf by Revd Canon Richard Hibbert, Incumbent & PCC Chair Page 7 of 19 ## _**INDEPENDENT EXAMINER’S REPORT TO THE PCC OF HOLY TRINITY CHURCH, COVENTRY**_ Report to the trustees of the Parochial Church Council of the Ecclesiastical Parish of Holy Trinity on accounts for the year ended 31st December 2024, charity number 1126698 which are set out on pages 9 to 19. ## **Responsibilities and basis of report** The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act ## **Independent examiner's statement** The charity’s gross income exceeded £220,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Signed: | Date: 25 October 2025 K Nuamah K Nuamah FCCA, MSc 17 Castle Close Coventry CV3 5JA Page 8 of 19 ## _**Holy Trinity PCC, Coventry Charity number 1126698**_ ## **Statement of Financial Activities for the year ended 31[st] December 2024** |**Incoming resouces**
**Income and Endowments**
Donations and legacies
Other trading activities
Income from Investments
Church activities
**Total Income**
**Resouces Expended**
**Expenditure**
Church activities
Raising funds
**Total Expenditure**
Net Income/(Expenditure) before
Investment(Losses)/Gains
Net(Loss)/Gain on Investments
Net Income/(Expenditure)
Transfer between Funds
Net Movement in Funds
Total Funds Brought Forward
**Total Funds Carried Forward.**|**Note**
2a
2b
2c
2d
3a
3b|**Designated**|**Designated**||**General**
**Unrestricted**
**Funds**
254,076
1,183
10,392
14,281
279,932|**General**
**Unrestricted**
**Funds**
254,076
1,183
10,392
14,281
279,932|**Total**
**Unrestricted**
**Funds**
**£**
254,076
1,183
10,392
14,281
279,932|**Total**
**Unrestricted**
**Funds**
**£**
254,076
1,183
10,392
14,281
279,932|**Restricted**
**Funds**
**£**
2,400
0
0
260
2,660|**Restricted**
**Funds**
**£**
2,400
0
0
260
2,660|**Endowment**
**Funds**
**£**
0
0
0
0
0|**Total 2024**
**£**
256,476
1,183
10,392
14,541
**282,592**|**Total 2023**
**£**
233,436
1,190
5,823
8,204
**248,653**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||
**Funds**||||||||||| |||||||298,170
1,332||298,170
1,332||5,383
0|0
0|303,553
1,332|292,384
594| |||||||299,502||299,502||5,383|0|**304,885**|**292,978**| |||||||-19,570
-211
-19,781
0||-19,570
-211
-19,781
0||-2,723
0
-2,723
0|0
1276
1,276
0|-22,293
1065
-21,228
0|-44,325
6,023| ||||||||||||||-38,302
0| |||||||-19,781
267416||-19,781
267416||-2,723
36685|1,276
67868|-21,228
371969|-38,302
410,271| |||||||**247,635**||**247,635**||**33,962**|**69,144**|**350,741**|**371,969**| The notes on pages 12 to 19 form part of these accounts. Page 9 of 19 Holy Trinity PCC, Coventry Charity number 1126698 Balance sheet at 31st December 2024 Notes 2024 2023 Fixed Assets Tangible Investments 5a 5b 130,379 130,383 129,315 129,319 Current Assets Stock Debtors and Preparements Short Term Deposits Cash at Bank and in Hand 2,156 2,156 112,386 123,752 238,294 108,296 159,954 270,406 . Liabilities Creditors- Amounts Falling Due Within One Year 17,936 27,756 Net Current Assets 220,358 242,650 Total Assets less current liabilities Total Net Assets 350,741 371,969 Parish Funds U nrestricted Restricted Endowment 8c 8b 8a 247,635 33,962 69,144 350,741 267,416 36,685 67,868 371,969 Approved bythe Parochial Church Council on the 27th October 2025 and signed on its behalf by- Revd Canon R Hibbert Revd Canon Richard Hibbert, Incumbent & PCC Chair nyele Nehemiah Akinyele, Churchwarden The notes on pages 12 to 19 form part of these accounts. Page io of 19 ## _**Holy Trinity PCC, Coventry Charity number 1126698**_ ## **Cash Flow Statement for the Year Ended 31[st] December 2024** ||**2024**||**2023**|| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |**Net cash from operating activities**||-42,505||-30,006| |**Cash Flow from Investing Activities**||||| |Dividends, Interest and Rent from Investments|10,392||5,823|| |**Net cash provided by/(used in) investing activities**||10,392||5,823| |**Change in cash and cash equivalents in the reporting period**|-32,113||-24,183|| |**Cash and cash equivalents 1st January**|268,250||292,432|| |**Cash and cash equivalents 31st December**|**236,137**||**268,249**|| |**Reconciliation of net income/(expenditure)before invesment gains**||||| |**Net Income before Invesment gains at 31st December**|-22,293||-44,325|| |**Adjustments for**||||| |Depreciation charges||||| |Dividends, interest and rent from investments|-10,392||-5,823|| |(Increase)/Decrease in debtors|0||21,029|| |(Increase)/Decrease in stock|0||0|| |(Decrease)/Increase in creditors|-9,820||-887|| |**Net cash provided by/(used) in operating activities**|-42,505||-30,006|| |**Analysis of cash and cash equivalents**||||| |Cash in hand|123,752||159,954|| |Notice deposits (less than 3 months)|112,386||108,296|| ||**236,138**||**268,250**|| The notes on pages 12 to 19 form part of these accounts. Page 11 of 19 ## _**HOLY TRINITY PCC COVENTRY**_ ## **Notes to the Accounts Year Ended 31st December 2024** ## **1. Accounting Policies** The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared in accordance with the Charities Act 2011, the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair view” provisions, and in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and with the Statement of Recommended Practice, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on the 16[th] July 2014. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at fair value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of any church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. Separate accounts are prepared for the Holy Trinity Old National School (Church Centre) (Charity Commission number 528852) ## **Funds** Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used and this is unrestricted as there is no restriction on its use, with the exception of the income arising on the donations for Bible Study Literature. Restricted funds represent donations received for specific purposes. As of 31[st] December the specific purposes are: for staff training, Youth and Children’s work, The Vicars Discretionary Fund/ Sharing Fund; Free Literature, Choir Bursary and Recording, Flowers, Upkeep of the organ, Mission, a capital project, improving our welcome, and to improve the facilities within the church building. Unrestricted funds represent the general funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. ## **Incoming resources** ## _**Recognition of Income and Endowments**_ These are included in the Statement of Financial Activities (SOFA) when: - 1 the PCC becomes legally entitled to the use of the resources; - 2 it is more likely than not that the trustees will receive the resources; and - 3 the monetary value can be measured with sufficient reliability Funds raised from events and fundraising activities are reported gross in the SOFA. There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations are included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). For collections and planned giving this is when the funds are received. Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition Page 12 of 19 to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. The charity has incurred expenditure on support costs. The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. Rental income from the letting of the church is recognised when the rental is due. Investment income and interest is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Investment gains or losses include any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of year. Legacies are included in the SOFA when receipt is probable, that is when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. ## **Expenditure and Liabilities** Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources the amount of the obligation can be measured with reasonable certainty. Grants and donations payable are approved by the PCC and details displayed in church and are accounted for when there are no pre-conditions still to be met for entitlement to the grant which remain within the control of the PCC. The charity has incurred expenditure on support costs. Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources. The charity made no redundancy payments in the period. No material item of deferred income has been included in the accounts. The charity has creditors which are measured at settlement amounts. The diocesan parish share was paid in full. ## **Fixed assets** In so far as consecrated and benefice property of any kind is excluded from the statutory definition of “charity” by Section 10(2) (a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements. Movable church furnishings are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised but all items are included in the Church’s inventory in any case. For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Subsequently all expenditure on such assets Page 13 of 19 has been written off when incurred with the exception of the digital organ purchased in the year to 31[st] December 2006. The organ has been fully depreciated on a straight-line basis over eight years. ## **Investments** Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. ## **Stock Held for Resale** Stocks held for sale as part of non-charitable trade are valued at the lower of cost or fair value at the year end. ## **Debtors** Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. ## **Short Term Deposits** Short term deposits include cash held either in The CBF Church of England Deposit Fund, in the Stockbroker’s cash Account, or at HSBC Bank plc. ## **Funds** Unrestricted funds represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets, for its own use, or for spending on future projects and which means that the PCC ‘free reserves’ are lower than the total unrestricted funds. Restricted funds are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts. Endowment funds are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the accounts. Page 14 of 19 |**Notes**
2
a)
b)
c)|**Income and Endowments**
**Notes**
Donations & Legacies
Planned giving:
*PGS/Stewardship Giving
*Gift Aid/Tax Recoverable
Collections
Gift Days
Grants:
*GASDS Top-up Payment
*Archbishops council
*DCMS-LPOW Grant- VAT
*National Lottery
*Job retention scheme
*Doom painting grant
Donations, appeals etc
Donations
Feoffees
Improving our Welcome
Church Boxes
Vicars Discretionary fund
Legacies
CAF, GAYE, One off G/Aid
Grants/Choir Grant
Other Trading Activities
Autumn Fayre
Welcome area / shop
Income From Investments
Dividends
TSB Gilt Fund
Interest
Interest Business Money Manager
CCLA Choir Bursary||**Designated**||**U**|**General**
**nrestricted**
**Funds**
**£**
158,981
37,154
15,825
15,604
10,988
12,429
0
3,095|**Total**
**Unrestricted**
**Funds**
**£**
158,981
37,154
15,825
15,604
10,988
12,429
0
3,095|**Restricted**
**Funds**
**£**
2,400
0|**Endowment**
**Funds**
**£**|**Total 2024**
**£**
158,981
37,154
15,825
0
0
0
0
0
0
0
0
0
15,604
10,988
0
12,429
2,400
0
0
3,095|**Total 2023**
**£**
135,057
50,204
14,071
0
0
0
0
0
0
0
0
0
6,209
11,222
0
9,801
2,500
372
0
4,000| |---|---|---|---|---|---|---|---|---|---|---|---| ||||
**Funds**
**£**||||||||| |||||||**254,076**|**254,076**|**2,400**|**0**|**256,476**|**233,436**| |||||||1,183|1,183|0|0|0
1,183|0
1,190| |||||||**1,183**|**1,183**|**0**|**0**|**1,183**|**1,190**| |||||||3,780
2,060
462
4,075
15|3,780
2,060
462
4,075
15|||3,780
2,060
462
4,075
15|3,455
1,790
578| |||||||**10,392**|**10,392**|**0**|**0**|**10,392**|**5,823**| |||||||9,381
4,900|9,381
4,900|25
235||9,381
0
0
0
0
4,900
25
235|6,397
0
0
0
0
1,172
635| |d)|Church Activities
Fees
Coffee after services
Church Hire
Salary Recharges
Utility Recharges
Miscellaneous
Choir CD
Flowers
**Total Income**||||||||||| |||||||**14,281**|**14,281**|**260**|**0**|**14,541**|**8,204**| |||||||**279,932**|**279,932**|**2,660**|**0**|**282,592**|**248,653**| Page 15 of 19 |**3 **
a)
b)|**Expenditure**
Notes
Church Activities
Missionary and charitable giving (note 10)
10
**Ministry Costs**
Ministry Diocesan Parish Share
Upkeep of Services
Fees paid out
Youth Ministry
Choir / Music Ministry
Vicars Discretionary Fund
Working Expenses of the Clergy
Ministry recruitment costs
Bibles, books and ministry resources
Local outreach
**Parish Staff**
Wages and Salaries of Parish Staff
4c
National Insurance of Parish Staff
4c
Pension Contribution Parish Staff
4b/4c
Payroll Charges
Organist Fees
Staff training
**Church Running & Maintenance Costs**
Maintenance
CCTV
Heating and Lighting
Alarm system - church
Maintenance of the Organ
Cleaning
Insurances
4d
**Other Running Costs**
Donations received paid out
Flowers
Miscellaneous
Office expenses
Bank Charges
Telephone
Stationery
Licences
Advertising
Rent & Venue Hire
IT Upgrade/Software Expenses
PA equipment/Maintenance
Pew Cushions
Concessional write - off (OBCS).
**Fund raising costs**
Coffee in the church
Just Giving
Welcome Area / Shop
**Total Expenditure**
Major Repairs- Roof & Toilets|15,000
15,000
15,000
14,601
0
67,969
67,969
67,969
64,139
2,382
2,382
2,382
3,362
5,000
5,000
5,000
3,844
1,180
1,180
1,180
4,244
3,163
3,163
4,000
7,163
1,607
1,350
1,350
1,216
3,790
3,790
3,790
2,812
700
700
700
250
1,918
1,918
1,918
450
747
747
747
351
0
85,946
85,946
85,946
92,901
2,584
2,584
2,584
4,486
5,418
5,418
5,418
9,894
518
518
518
5,025
5,025
5,025
2,325
0
0
0
19,686
19,686
19,686
3,108
0
0
0
248
0
0
18,259
18,259
18,259
12,234
0
0
0
0
0
0
0
379
12,079
12,079
12,079
11,838
0
3,716
3,716
3,716
825
33
33
30
5,061
5,061
5,061
4,051
7,838
7,838
7,838
6,743
235
235
235
1,670
1,670
1,670
2,744
836
836
836
645
6,340
6,340
6,340
4,342
0
0
0
460
2,950
2,950
2,950
927
9,515
9,515
9,515
25,050
1,487
1,487
1,487
2,371
7,158
7,158
7,158
0
0
0
0
9,907| |---|---|---| |||298,170
298,170
5,383
0
**303,553**
**292,384**| |||1,176
1,176
1,176
396
156
156
156
198
0| |||1,332
1,332
0
0
**1,332**
**594**| |||**299,502**
**299,502**
**5,383**
**0**
**304,885**
**292,978**| Page 16 of 19 ## **4a. Payments to PCC members** The expenses paid to clergy may include a small immaterial proportion, which relates to their function as PCC members. No expenses or other payments were paid to any other PCC members as members or persons closely connected to them or related parties other than reimbursement for purchases made on behalf of HTC. ## **4b** . **Church Workers Pension Fund (CWPF)** Parochial Church Council of the Ecclesiastical Parish of Holy Trinity PCC of Holy Trinity (Coventry), (PCC of Holy Trinity) participates in the Pension Builder Scheme section of CWPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers. The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014. ## **Pension Builder Scheme** The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes. Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors. Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and contributions that are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable (2024: £5,418, 2023: £9,894). During the year the PCC employed a Parish Manager, a Parish Finance Assistant, a Director of Music, Youth and Family Co-Ordinators, a Verger, an Assistant Verger, and a Social Media Missioner. ## **4c Staff costs** |Wages and Salaries
Employer's National Insurance
Employer's Pension Costs|85,946
92,901
2,584
4,486
5,418
9,894| |---|---| ||**93,948**
**107,281**| Page 17 of 19 |**5 **
a)|**Fixed Assets**
Tangible
(unrestricted)
Actual cost
Depreciation
At 1 January
Charge for year
Net book value
At 31 December 2024
Investment Funds
2280 Shares CCLA CBF Church of England Investment Fund Account (cost £1580)
10,035.2 Lloyds Investment Funds Limited- Sterling Bond Fund (cost £11670)
1170.8 Aberdeen Standard Fund Mangers Ltd ASI Global Ethical Equity 1 Dis (cost £1347)
Burbidge Bequest
Market Value at 31 December
Market Value at 1st January
Net Gains
Market Value at 31st December
**Analysis of Investments**
Listed Investments
Unrestricted Funds
Endowment Funds
**Debtors**
Tax Recoverable
Prepayments and Accrued Interest
Other Debtors
**Stock**
Opening value
Added in period
Expensed in period
Closing value
**Liabilities**
Amounts falling due in one year
Accruals of utility and other costs
Other Creditors
At 31 December
At 31 December 2024|Organ
**£**
28,948
28,944
0
28,944
**4**
**4**
52,720
51,540
12,902
13,025
3,522
3,303
61,235
61,447| |---|---|---| |||| |b)||| |||**130,379**
**129,315**| |||129,315
123,293
1064
6,022| |||**130,379**
**129,315**| |||**130,379**
**129,315**| |||61,235
61,447
69,144
67,868| |||**130,379**
**129,315**| |||0
0
0
0
0
0| |**6a **
**6b **
**7 **||| |||**0**
**0**| |||2,156
0
0
**2,156**
0
0
17,936
27,756| |||**17,936**
**27,756**| Page 18 of 19 **8 Funds** |a) The permanent endowment fund comprises
Proceeds 38 Friars Road
The Laxton Bequest
Bible Study literature donations|52,720
51,540
12,902
13,025
3,522
3,303| |---|---| ||**69,144**
**67,868**| |b)
b)
**Fund movements**
Balance at 1 January
Incoming Resources
Transfer from general funds
Resources expended
Balance at 31 December
The restricted funds are comprised of incom
org|Screens
Welcome
Board
Vicars
Discretionary
Fund
Literature
Choir
Flowers
Organ
Mission
Choir
Recording
**TOTAL**
9765
100
14392
2334
4605
1277
3582
134
496
36685
0
0
2400
0
25
235
0
0
0
2660
0
0
0
0
0
0
0
0
0
0
0
0
1350
0
4000
33
0
0
0
5383
e for staff training, Youth and Children's work, the Vicar's Discretionary Fund, Free Literature, Choir Bursary and Recording, Flowers, Upkeep of the
an, Mission, a capital project, improving our welcome, and to improve facilities within the church building.| |---|---| ||**9765**
**100**
**15442**
**2334**
**630**
**1479**
**3582**
**134**
**496**
**33962**| ||| c) The unrestricted funds comprise the general fund and a fund designated by the PCC to resource and support the ministry and growth of the church. |9
10|**Fund movements**
Balance at 1 January
Incoming Resources
Transfer from general funds
Resources expended
Balance at 31 December
**Analysis of net assets by fund**
Tangible fixed assets
Investment Fixed Assets
Current Assets
Current Liabilities
**Fund balance**
**Missionary and charitable giving**|General
Unrestricted
Funds
Designated
Funds
Total
Unrestricted
Funds
267,416
0
**267,416**
279,932
0
**279,932**
0
0
**0**
299,713
0
**299,713**
**247,635**
**0**
**247,635**
Unrestricted Restricted
Endowment
**2024**
4
0
0
4
61,235
0
69,144
130,379
204,332
33,962
0
238,294
-17,936
0
0
-17,936
**247,635**
**33,962**
**69,144**
**350,741**
Church Mission Society
Novimost
OMF International UK
Church Urban Fund
Coventry Foodbank
Friends International Coventry
Coffee Tots
Embrace Warwickshire
Hope Coventry
The Light House Christian Care Ministry
Street Pastors|**2024**
**£**
3,550
1,800
1,250
1,400
1,350
950
2,200
850
600
850
200| |---|---|---|---| ||||**15,000**| ## Note All charitable giving relates to institutional giving and reflects a single award for a particular purpose set out above. Page 19 of 19