REGISTERED CHARrrY NUMBEA,. 112n32 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR PCC OF ST FRANCIS, BOURNVILLE Prirne Chartered Accountants Corner Oak 1 Horner Road Solihull B91 3aG PCC OF ST FFIANCIS, BOURNVILLE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 P8oe Report of th8 Trusiees 1 to 4 Independgnl Examiner's Report Statement of Fingn¢ial A¢llvllles Balance Sh¢•t Not•s to the Flnanclal Stslwnonts 8 to 18 Dgtsiled Statement ol Fln)n¢ial Actlvltl8S 19 to 21 PCC OF ST FRANCIS, BOURNVILLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Introduaian Bournville Parish Church IBPCI stands atthe heart Df the model village built by George Cadbury arDund the chocolate lactory. The church has Ilourished at the heart of the Boumwlle communityfor almost 100 years, and is cornmfited to be £ welcomlng inrlu5ive space for people of all ages and backBrounds. We se¢kto Ilsten rarelully and be responsivè to the diverslty Wlthin our local Gommunity. At the heart of our life as a worshipping Christian comrnunity, we ctyntinueto develop ourfocus on h05Pltolity. discipleship and outretrch. We workc105ely with the St Frantis Youth and Commurtlty Centre, with other local businesses, 5choo15 #nd groups, and we seÈkto foster a partnership approach io building social cohesion and spiri(ual growth in a varTret¥ Df ways. We see ourselves as a churfh far the whole community offerlngcare. 2ttentivene55, compas$lonate presence, 5pKe and opportunity lor thÈ honouring of people's e¥pÈrience. The PCC 15 a re8i5tered chaflty Icharity no.. 11273321 and ltsstated charitable aim is the provision of pybllc worship open to all. Thp PCC exlsts as a governing body to support and enable, with the incumbeTht, the whole mission of the thurch. Rq¥i¢w of 2023 Wor5hlpp nurtuwg pa￿Oral preserKé im thÈ Communlty In 2023 we have continued enjoy 8 rlch and varied pro8ramme of worship itKJudin8 All Together Service5 Rise and Shine, New Vifie as well as a series ol weekly evenin8 services rellecting dilferent traditions. We have enjoyed a healthy numberof baptlsm 2nd ma¥ria8e £elebrètion51hroughoutthe year, with many of the baptisrn families havlng had first contact with the ¢hurch through Rise and Shine. A dedicated Èr¢up of pÈoplÈ have sustained worship in number of local nursing homes throughout this ye2r and others have taken holy communion and 3 prayerful pr&sen£e to peopld5 homÈs. Richard, Chrls and R¥chel conducted a weekly Collective Worshlp at St Frantis School. PIAnistryTeam Thè mirtisiryteam at St Francis thi5yeèr has benefited greattyfrom the mSnlstry ol Revd Chrfs Chalmers, our curate (arrived in J3Tru3ry 20231, 4nd Rachel Fasham, our Youth and Chlldrens Development Worker larrived in November 20231. Helen Crisp's work 45 Cornrnunity Development Worker colltinues to flourish in its fourth year. as dothe ministries af laura Godwin, ChaAotte Barber. Trevor Workman, Mandy N4yak, MalcDlm Morse, Catherine Pinneck and Sally Slevin. Go¥ern#n£e and Strntture of Meetln85 The PCC is organised around a pattern of 5 meetln8s per year but hgs a number of sub-committees which Meet between meetin8s of thÈ PCC as rpquired.. ndin¥ Commlttee is the Only5v￿COMMittee required by the Church Representatlon Rules. It has powerto tran5aCtth¢ buslness of the PCC between its meetings. subjert to any dlre£tion wven bythe PCC and recommends items *or inclusion in future PCC rneetings. Fabrlc al￿ Flnanre Commtttee This commlttee prepares the annual budget artd monitors overall income and expenditure in the parlsh. It also ovèrsees the general maintenance and repalrs of all church praperty. During 2023 ic was agreed that the Fabric & Finance committee and SEanding Committee would be ccKnbined into a single Standing Commltiee which would assume all re5ponsibhlitle5 of thE previously separate committees. Page 1 PCC OF ST FRANCIS, BOURNVILLE REPORT OF THE TRUSTEES FOR THE YEAFt ENDED 31 DECEMBER 2023 Membership of PCC In 2023 Canon Richard Wharton r Malcolm Morse Mrs Mandy Nayak Mr Roger Barber r Dale Brusby Plr Ralph Thomas MrAI Rodgers Chair Readèr Reader. Diocesan Synod Churchwarden ChuTchwarden SafeguaTdiTh8 Ci*ordin4tor Elected M3¥ 2022 and Deanery Synod from APCM 2021, stepping down APCM 2024 Elected May 2021, stepping down APCM 2024 Elected May 2022 Elected May 2022 Elected April 2023 Elerted Aprll 2023 Elected April 2023 Elected April 2023 Until April 2023 Ms Janet 800th Mrs Catherine Shakespear rs Mary Rodgers r Ross Baylis Mr Chr15 Chatfield Ms Debor8h lewi50n Wcki Smith Mrs Emrna Beynon Mr Damidn Herbert Mrs Portia Lloyd Mrs Lyn Moon Mrs Becky Morris Mrs Su Newton-Ede Mr Jonathan Payn Until April 2023 Until April 2023 Until April 2023 Until April 2023 Until April 2023 Ctropted members Mr% Jess Mèttocks Ms Laura Godwin Head Teacher. St Frincis C of E Primary Schth CtH)rdinator ol Music In Attendance Mr5 Joanne Else Mrs Sallyslèvln TreasurerfroTn October 2022 5e£retary Revlgw of Finan¢lal Actlvltles Incom¢for Z023 was £202.447. an Increase of 9% over 20221£185.5791. Over411 ID55 forthe year was £14,18012022= profit of £8,736). This flgurecomprise5, before traftsfers. a profit of £22,816 in the unrestrirted funds. 8 lossol £15,067 in the de518nated funds, and a loss of £21929 irt the restricted funds. ThÈ mlssion and ministry of Boumville Parish Church is primarilyfunded ihroueh the planned giving of members ot the conBre8Ztion. In 2023, through the generosityol our congregation. we raised £55,309 for the gener21 fund in thisway 12022.. £54,8221, inueased by tax reclaimed through Gift Aid of £13,49712022.. £13.0461. A generous unrestricted grant of £IO.000 was received from the W Cadbury Trust for our on80inE work. This year we continued Durfundrai5ing efforts, the bi88est ef which was the Bournville Chrlstmas Festival whlch ralsed £2,332 before expenses12022.. t2,5031. We a150 held a Christmas coneert in conjunction with Birmln8ham 8rass Band, Sumrnerconc2rt and Summer F•yre, and participated In Herltage Open Day ID SEPtember. We Sincerely appreciate the effort 8nd hard work of everyone involved in all our fundraising actimties through the year which Renerated a wonderful total of £7,14112022.. £5,6LII. Page 3 PCC OF ST FRMCIS, BOURNVILLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Rfdlew of Flnantlal Actlvltle5 Irontlnuedl The PCC owns a residenti31 property at 63 Llnden Road which i5 let outto prhte tenants. During a gap in tenancy in the year, we undertook a refurbishment of the p¥operty, utilising funds the desisnated Linden Rd resetve. Totsl rÈntal in¢omèfor the year was adver5ety afferted by thls break in tenancy. Our expenditure throu8h the general fund was £111.86312022.. £1063761. This ineluded payment of £51,5W fgr the Common Fund12022.. £49.4911. Transactions between the PCC and the St Franci5 Youth & Community Centre a5 a related partywere made towards the shared costs of employing our treasvrer and parish adminlstrator. heating and I￿hlIng, photocopie5 an(t e5sentlal e12rtric81 ènd water53fety repairs. Payments. Includlng expenses, to PCC member5 included thuse tu vergers whD also seNe en the PCC. Resekve5 Policy The reserve5 pollcy of the PCC is that we aim to hold an unrestricted re5er¥e equlvalent to three months, runnlng costs. We hold 8 permanent fabricfvnd a5 4 re$trlcted fund for long term care of the church building. Althou8h this fund has been almost lully utilised in 2023, we Intend to focu5 on replenishing It over the nexttwo ypar5. In add((¢on to thi5 perrnanent fabric fund it isthe policy of this church to keep an onEoin8 rnairbtenance reserve to which WE ¢ontribute a minimurn of £5,￿0 per year Iwhich is through fundraisin8 and monie5 transferred from unrestrirted or deslgnated funds). Th¢s is used te payfor planned wort< relatinE to the maintenance schedule, work identified throu8h quinquennial inspections and far genèral repairs ro rhe building and lixtures. We hB¥E an est3blished designated lÉgacy fund where the PCC have allo¢ated lunds to be spent on 2 number of future projects. In 2023, we 5pent'. Depfeciatlon charges for assets purchased in previous years £6,946 Li8htin8 upgr?de £4.273 Nave altar £1,260 The Legacy bank accounts earned interest of f 3.763. At the year end the Legacyfund balarKe was E105.52412022.. £109.9721. In 2024, the PCC anticip4tethatfund5 wfill be required for the fttllowlng.. NÈVÈ Èk3r Repair5to the Cloistei roof and the external doors, tyrnpa#um ènd stonework lin lieu of funds bein8 avallable from the Fabric fundl The PCC is mindful that the reserves po5icy 15 not yet achieved In unrestrittÈd genera5 funds. This p051tion ¢ontlnues to be act(vely pursued bythe PCC through rebust rnonitoring of unrestrlrted expenditure and incDmE generation. GolngConr•rn At thp date of slgnlng these financial statements the KC has censideTed the Charltvs ability to operatefoT the foreseeable fvture, including a per￿d up to twelve rnonths from this date. and dc not belleve there is anything gf 5i8nrficance that will adversely affe¢tthis sbllity to operate for the fore5peable future. The Charity has sufficient designated funds whlch could be re-purposed. if reouired, to absorb any short-temi in-period deficits. Thu5 the PCC con51dersthe Charity to contlnue 10 be 3 goin8 concern. Pag¢3 PCC OF ST FRANCIS. BOURNVILLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The PCC have alstr considered the Charlty Commlsslon Eulthnce on public benelit and. in part, the supplementary guidan¢e forthe Advancement of religion. Conclu51on The churth ond PCC look forward to contlnued focus on our prlmary aims in the parish. We lookto our God te suppty èll we need to accomplish His workand how He will use each one Df u5 in IL There Is InsuffKient room to rnention all thg5e that have given theirtime and energ¥to maifitairtiffig the churth's lunctKJns. Butto Èveryone In the church, thankyou for all your comrnitrnent and 5UPPQrt in the past year. Si8nÈd.. DatEd.. Canon Richard Wharton- Chair Parish Offlce St Francis Centre Sycamore Road 8ournwllÈ Birmin8h2m 630 2AA Tel.. 0121472 7215 www.bournville arishchurch.or R¢8FSteted tharfty Number- 1127332 Page 4 DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PCC OF ST FRANCIS, 80URNVILLE dependent ox•mlnorf$ roport to the trustse$ of PCC ol St Froncis. Bournvlll? I report to the charity trustee5 on my Éxamlnatlon of the accounts of PCG of St Francis, Bournville Ithe Trust) lor the year ended 31 De¢etnb¢r 2023. Responslbilltios and basts ot rpporl As the charity Iiuslees ol the Trust you are responsible lor the preparation of the aithunls in accordance with thè r8quiremenls ol th8 Chartties A¢t 2011 I'the Act'l. I raport in r8spect ol my examination of th¢ Trusvs accounts carried out undar Section 145 of the Act and in eArrying out my examination I have followed all applicable Directions given by the Charity CoMmiss￿n under Section 14515llbl ol It￿ Act. tndependent oxaminèr's stal•m8nt I have ¢¢mpleted my examination. I confirm that no materkAI rnatters havo ￿[1* lo my attention in conne¢*on with the examination giving rna caus• to believe that in any material respect.. acwunling rewrds ¥vere not kept in respect ol th8 Trust as required by se￿￿￿ 130 of the Act., the accounts do not a¢¢ord with those re¢ords', or Ehe awounts do not comply with thè applicable requirements concerning the form and con￿nI ol accounts set out in the Charilles (Accounts and Reportsl Regulations 2008 oEher thon any requir9mgnl that the a￿OuntS give a true and fÈii wew which is not a rnatter considered as part ol an indgpendent examination. I hava no concerns and have corrTe a¢rpss no other matters in connèction with the examinat¥)n lo which attention shoukl bfj drawn in this report in order to enabl8 a proper understanding of thé accounts to be reached. Paul Guise ACA Prime Chartered Acctyjnlants Corner Oak 1 Homer Road B91 3QG Date.. 10...M.ay.20.24 Page 5 PCC OF ST FRANCIS, BOURNVILLE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2022 Total fund5 Unrestrlcted Deslgnated Restrlcted Endowment funds funds *Ltnds nd Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legaaes Charltable actlvllles Chartiabtg Activities 91,156 27,614 45?2D 163,W 150,404 185 2LKI 3.021 3.227 FurKlraising acbwties Invéstmént 1ft￿me Othw incom 201 240 8.128 850 1763 7.141 5.611 1,9)8 92 24.429 24 Total 108J61 3S,212 5&874 202A47 185.579 EXPENDITURE ON Rasing funds Ch8rltabl8 actlvltlas Charitable Activitie5 3,838 167 4.OOS 4,293 105.798 14522 80.577 2￿.697 160.266 Other 30 13.247 Total 109,866 80,603 218,149 174,715 Net gainslllossesl on inveslrnent5 2,128 NET INCOMEIIEXPENDrruREI 11.305) 9.054 (21.9291 114,180) 8,736 Transters b•lween funds 13 Nat ￿0￿MOnt In lunds 11,3051 (6.553) 121.929) 14607 114,1801 8.736 RECONCILIAIION C FUNDS Total funds brought lornvard 3.343 139,705 43,336 424000 811,3B4 602,648 TOTAL FUNDS CARRIED FORWARO 133.1S2 21,407 440 607 597.204 611,384 Th8 tK)tès form part of these finanaat stat8rn8nt5 Page 6 PCC OF ST FRANCIS, BOURNVILLE BALANCE SHEET 31 DECEMBER 2023 2023 Tolol funds 2022 Total funds Unreslrfcted Do81g￿ted Rastrkled Endowmgnt furtd fund fund fund Notes FIXED ASSETS Tangible assets Investmonts Investrnents Inve51menl prope 4129 4129 10,034 17.554 17,554 440,607 440 9)7 16,032 425,000 21,683 451,08e CURRENT ASSETS Stocks Debtors Cash at bank 165 756 27.558 165 4,601 139,547 176 6,426 160.931 10 355 875 111 114 4*5 111.469 28079 144,a13 167,533 CREDITORS Amounts falling due within one year 12,3271 (7.072) {9,3991 17.2151 NET CURFtENT ASSETS 2,038 111.469 21,407 134.914 160,318 TOTAL ASSETS LESS CURRENT UABILITrES 2,038 131152 21.407 440,507 597,204 611.384 NET ASSETS 2.038 133.152 21107 440,607 597,204 811.384 FUNDS Unrèstrict6d funds Designateé funds Réstricted funds Endowment funds 12 3,343 139,705 43,336 425 000 133,152 21,407 TOTAL FUNDS 611,384 The financAal ststemertts w&r& approvsd by Ihg Board of Trust88s and authorised lor issue on . and were signed on its behall by.. A M Wharton - Truste& The notes form part of thase financial statements Paga 7 PCC OF ST FRANCIS, BOURNVLLLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basls of prepprino tho fln8nelal stat•monts The PCC is a public benefit entity within the meaning ol FRS102 (Financial Repoitir¥J Standard 102, The Financial Reporting Standard aFplicable in the UK and Republic of IrelaThll. Th8 financial statemènts have been prepared undgr the Charities Act 2011 and in a￿Ordan￿ wich the Church A¢￿UntIng Regulations 2006 goveming the individual acGoun15 of PCCS, and with thè R8gulations' Irue and fair vi￿. provisions, together with FRS102120161 as ihe applicablfj arrounting standards and the 2016 ￿rsiOn ol the Statement ol Racomm8nd&J Pracbce, Accounting and Reportirtg by Charities ISORPIFRS10211. The statemenls have t*Én prèpared under the historical cost convanbon except lor tho valuation ol investment assets, which 4r¢ shown al market value. Tha linawial statemen15 incjude all transaction5, assets and liabilities for which the PCC Is rgsponsible in law. They do not indude the accounts ol church groups that owe their main affiliation to another trx)dy, nor those that are wfforrnal gatherings ol church rnernbers. Incomlng resource8 All In￿M8 is rècognised in the Statement ol Finan¢ial Activities once the PCC has legal entitlem8nt to the funds, it is probable thal thè income will be received and the amount can be measuréd reliably. Voluntary and Other Non.In¥estment Income Collections and planned giving are recognised when raceived by or on bshall ol the PCC., Income tax recoverable under Gift Aid donations is iecognised when the income is recognised- Grants and legacies to thé PCC are recognised as 500n as th PCC is notified of Its18gal &ntiUemenL the amount du& is quantifi'able, and its ultimate recèipt by th8 PCC is reasonably ¢ertaii,' Funds raised from events are reported gross, i.e. before the deduction ol any relatsd co*s.' Sales of books and magazines frorn the Church Bookstall ara reported lor gross., Flental incom¢ from the leth'ng of Church yèmises 1$ recognised when th8 rental is du6,. Inveslmonl In¢omg - Diwdends are recognised when due and payable., Interest enliyemenls are recognised as thay aceruè., - Tax r6coverable on Such incom¢ is recognised in the samè accounting year. Gov8rnm•nt Grants Governrnent grants are recognised when t￿re is a reasonable assuranca that the company will comply with thp conditions aitached and the grant will bè received or on actual rec9ipI of the grant, whichever is earliar. Grants lor immediate financial support ars recognised on receipt. Expenditure and IIAbllltl•s Liabilib"es are recognised as expenditurè as soon as there 15 a legal or constructive Obligation committing thg PCC lo that expenditure, it is probablè that a transfer of economic benefits will be required in settlement and thè amount ol the obligation can be n*asured reliably. Expenditur¢ is account¢d lor on an accnJals basis and has bean classified uThYer headings that aggregate all cost related to the ¢ategory. Where costs cannot be directly atitibuted to particular headings they havg bBen allocaled to activities on a basis consistent with th8 use of resour￿% Galns and Losses on Investments Realis9d gain5 Dr105ses recognised whan investments are sold.. Unrealised gains or losws are recognised on revaluation of invèstments at 31 D*comb¢r. Gr•nis Grants and donations ar8 accounted lor when paid over, or when awarded. rf Ihat award ¢reates a binding obligation on the PCC. Pagg 8 ntinuod... PCC OF ST FRANCIS, BOURNVILLE NOTES TO THE FINANCIAL STATEMENTS. contlnued FOR ThE YEAR ENDED 31 DECEMBER 20YJ ACCOUNTING POLICIES- ¢ontlnuod Actlvltles dlrèctly relatlng to the work of the Church Expendlture and 1SabllStfes The dioc95an parish share is accounted for when paid. Any parish sharo unpaid at 31 De¢ember is provided lor In these accounts as an operational (though not a ￿gaI) liability and is shown as a cr8Liitor in the balanee she8t Flxgd as$8ts Consecrated PrO￿rtY and movable church fumlshlngs In so far as consecrated and benefice property ol any kind is excluded trom the statutory dellifaon of "charity by Section fjO121 lal and Icl ol the Charities Act 2011 such assets are not C4Ditalised in the financial stat8mÉnts. Movable church furnishings held by the Vicar and Churchwardèns on special trust for th8 PCC, and which require a faculty for disposal, are accounted lor as inalienable property unless cA>nsecrated. Théy arè Iisled in the ehurch's inventory which can bè inspèeted lat any rèasonable iimel. For inali¢nablo pro￿rtY ac4uir6¥J prior to 1 January 2006, there is insuff￿le￿I ¢ost information available and IherÉforè such asséts arè not valued in thè accounts. 118ms a(4uirèd sincè 1 January 2006 have beer? capttalised and deprE￿atr￿ in th¢ ounts over their currenuy antiripated u*lul economic lrfe linrtkglly over 10 years) on a straighl line basis. All expenses incurred in the year on consecrated or benefice property, individual iterns under £2,500 or on the repasr ol rnovabl8 church lurni5hings acquired bglore 1 January 2006 are wrttten off as revenue eosts. Flxturafy flftlngs and ottw equlpment Equipment used within the church premises is depreciated on a straight line basis oveT 5 years. Individual itams ol ￿uipment with a purch8S8 Cost of £1,000 or18ss are writt6n off when tha assat is acquired. Pooled iterns, that is rnorg than one item of the samg description purchased at the same time, w¢th an individual valua in excèss of £250 ar8 capitalissd. 63 Llnd•n Road- InY•stm•nt prO￿rtY The semi-detacthed property. 63 Linden Road, was gifted to the Parochial Church Coun￿1 of St Francis, 8oumville on 29 July 1960. The Birminoham Diocèsan Trustèès Régistrar ar6 Custodian trustees of the propgty since 1960. whilg ts PCC rgmains the Tnanaging trustees and are responsib￿ for tha pro￿ty. Invesbnant woparty is initially r8cognis8d at cost and subsaquenlly ram8asured ai lair value at tha reporting date. The trustees review the valuation annually to d6temiine tt remains at fair vatu6, and a professional valuation is obtained at regular intervals to confirm the valuaticn used. Inv8stment$ Investments are valued at market valuè at 31 December. Any gain or loss on investments we realised within the curreni financial year. stocks Stocks are vaued at the lower of cost and net realisable value, after making due altowarKe lor obsolete and ￿t)w TnOViTV iletns. Page 9 conDnued... PCC OF ST FRANCIS. BOURNVILLE NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES. contlnued Taxotlon The charty is exernpt from tax on its charitable activf(i95. The tharty is liablè lor VAT on rel&vant acb'vit1è5 and is also Ilable lor EMplo￿r$ National Insurance Contributions on paid Church stalf. Fund accounllng Endowment funds are restricted funds, the capital of which must be retained,. only inLx)me arisitYJ from investment of the endowment may be used as a restricted or vnrestricted fvTrJ depe￿lIng upon the purpose IDr wh￿h the endowment was eslablished. Restricted funds are income lunds that repr8S&WIt.' lal income from trusts or endowtnenls which may bè expended only on those restricted objects providéd in thè terms ol the trust or the bequest. and Ibl donations or grants received for a specific object or inwled by thÉ PCC lor a specific object. The funds may only ￿ èxp8nd8d oft a sp8alic project for which they were given. Any balance remainiThJ unspent al the end of the year musl be carr￿d forward as a balance on that fund. The PCC usually invèsts sÉparatÉly lor signilicant r8Strict8d funds ensuring that interest is appwt1on￿I corTeCtIy. UnrÉstrict8d funds r8pr8sani the remainiThJ ir￿orne funds ol the PCC ihal a￿ available for sper￿ing on the general purposes ol the PCC. These indude designated funds which aré contributions with thè stipulahort that thèy bè used lor a s￿CIfiC puipose, such as spending on an approved future project. The PCC are responsible lor desKJnaling funds, and the balan￿$ of th8s8 funds are discloséd separately to the general unrestricted fund in the Notes to the Flnan¢ial S¢atements. Current assets Affloun15 owirvJ to the PCC at 31 DecernbBr in resp￿1 ol lees, renls or other incoffle are shown as debtor5 less provision5 for the atnounts that may wove uncollectable. Short-tsrm deposits irKlude Cash held on detxjsit with ailhar tha C8F Church of England Funds or at Lloyds Bank Golng Conearn The account have been prepared on tha basis ol bsing a going concern as ￿￿tlined in the Trustees, annual rewrt. Impalrniont ol assets Al èach rèporting date fixed assets ¥eviewed lo determine whether there is any indication thal those assets have SLrftered an irnpairment loss. If there is an indication ol Possible impairrnent, the rocoverable amount ol any affected asset is estirnated and compared with tts cArTring amount. If th¢ estimated recoverable amount is lowèr, the carrying amount is reduced to its e51irnatgd recoverable arnount, and an impairment loss is recognised imrn8thalely in th9 profit and loss account. Donafed Servlces Donated professional services and donated facilities arg recognisfjfj as inc0￿e when the charity has control over the item, any conditions associated with the donated item have b8èn mèt and tha racèipt of gconorThc benetit can b8 measured r¢liably- In accordance with the Charities SORP IFRS1021, the oeneral volunteer time ol Volunteers is not recognised. Please refor to the trustee's annual report lor more inlDrwnation abouttheir contribub"on. Page 10 o)ntinued,.. PCC OF sr FRANCIS, 8OURNVILLE NOTES TO THE FINANCIAL STATEMENTS- ¢onllnued FOR THE YEAH ENDED 31 DECEIIIBER 2023 FUNDRAISING ACTivmES 2022 Ghristrnas Market Fundraising Traid¢rart Salas Bookstsll Sales Refreshments after Church 2A32 4.588 2,503 a348 676 65 19 131 INVESTMENT INCOME 2023 2022 Dividènds Interest CBF D8tx)sit Fund 240 477 TRUSTEES. REMUNERATION ANO BENEFITS Thpre w¢r¢ no othei truste8s' remunerabon or other benefits lor the year erKled 31 December 2023 nor for the y8ar ended 31 Decamber 2022. Trustees, expenses Members ar￿ Co-opted Members ol Ihe PCC, as well as Ministers, Nvere fully reimbursed lor expenses paid on the Chuich's bEhall. The total expenses reimbursed to trustees and ministers arnounts to approximately £80012022.. £1,813). The expen￿5 were lor resources, S￿￿1 rèpair iloms, refreshments. telephone costs, and various other sundry fcems pa￿ on tt)8 Church's behalf. There were 4 truslees12022". 4 trustees) reimbursed during the year. including PCC Members Ministers. ALLOCATION OF ADMINISTRATION COSTS Administration Costs are allocated to expgndilure in the following manner.. Cost Descrlptlon Charitsble Activities Ralsing Funds rotal Cost Basis of Allo￿tIOn Tim8 spent on activities Usage Usage Nature of activity Adrninistrabon Costs Printing and Stationery Bank Charges Independent Examiner 15,471 2,082 127.41 2,000 1,719 1,040 127.41 17,#90 2,122 254.82 2,000 Note- £3.435 01 Administration Salart8s art shown as Parish Admin & Treasurer Salary in Charitable Activthes and are not part ol the Adminislralion Costs figures shown atM)ve. Page11 contiEhued... PCC OF ST FRANCIS, BOURNVILLE NOTES TO THE FINANCIAL STATEMENTS- Contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 TANGIBLE FIXED ASSETS Church Equipment COST At 1 January 2023 and 31 December 20¥J 41261 DEPRECIATION At 1 January 2023 Charge for year 227 S,905 At 31 Deeemter 2023 NET BOOK VALUE At 31 Decemter 2023 4,129 At 31 December 2022 10,034 FIXED ASSET INVESTMENTS C8F Investrnent Fund Shares MARKET VALUE At 1 January 2023 Revaluation5 16,032 At 31 Decemtrer 2023 NETBOOK VALUE Al 31 DecemtEr 2023 At 31 D8¢emt￿r 2022 16,032 There wero no investment assets oUts￿e the UK. Holdings at 31 December 2023.. 777 shar8É in th8 CBF Church of England Inve51mtrnl Fund 131 December 2022-. 777 shares) Cost or ValUat￿n at 31 December 2023 is r8pr8sent8d by-. CBF Fund Shares Valuatlon In 2022 Valuation in 2022 16.032 17 Page 12 o)nlinued... PCC OF ST FRANCIS, BQURNVILLE NOTES TO THE FINANCIAL STATEMENTS- conlinugd FOR ThE YEAR ENDED 31 DECEMBER 2023 INVESTME￿ PROPERTY FAIR VALUE At 1 January 2023 Addlth"ons 425,000 15.607 Al 31 Dewmber 2023 NET BOOK VALUE At 31 Decembgl 2023 At 31 D8cember 2022 425,000 STOCKS 20ZJ 2022 Tra￿Clatt Stod< 165 176 1￿ DEBTORS: AMOUNTS FALLING DUE w￿NIN ONE YEAR 2022 Othei debtors Prepayments ru¢d Income- Gift Aid 2?13 1,105 3,822 1,206 1,398 6,426 11. CREDITORS: Amouwfs FALLING DUE WITHIN ONE YEAR 21Y23 2022 Greditors for goods & services Accruals 150 490 6.725 9.399 7215 Paug 13 4¥Jn*nu8d... PCC OF ST FRANCIS. BOURNVILLE NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnugd FOR THE YEAR ENDED 31 DECEMBER 2023 12. MOVEMENT IN FUNDS Nel movémènt in funds Transf8rs between (u¥KIs At S3.12.23 Aii.1.23 Unre51rlcted fund$ G8nèral fund 63 Linden Road IDgsignaled) Ageing Well IDesignat8dl Children & Adult's Choir IDesignatedl Legacy Fund IDesvJnatedl Maintsrtancè Fund (Dèsignated) Special Fund IDesignatedl St Peters Sallley Trust ID&signate41 Centenary (Designated) st&y & Play Wwm we￿Orne IDesignalEdl 11.3051 14.7931 2,038 114.7311 17,000 376 105.524 68 762 115,fjQT) 17,000 109,972 6,102 S52 14.4481 (6.0341 110 20.735 20.735 143.048 7,749 {15.60T) 135.1 Restrlcted lund$ Action Aid Ageing Well Bookstall Fund Bournvillè Parish Youth Dig1k￿kS Project 1 DIg1k￿kS Project 2 Fabric Fund Flower FurKJ Heating Fund Memory Cafe Traidcralt Fund Youth Worker 170 {4,2351 1661 170 1402 1049 129 2,293 275 94 1008 6,637 2.115 129 8.061 275 5,963 2,161 6,n8 5,670 418 15,7681 (5,8691 (1531 16,7181 2,207 161 7,877 412 43,336 121.929} 21,407 Endowment lunds Land & Builthngs Fund 425,rMIo 15,f4)7 440,607 TOTAL FUNOS 611,364 14,180 Pag&14 continue(l... PCC OF ST FRANCIS. BOURNVILLE NOTES TO TrIE FINANCIAL STATEMENTS- contlnued FOR ThE YEAR ENDED 31 DECEMBER 2023 12. MOVEMENT IN FUNDS- contlnuod N8t movemènt v) lunds. included in th6 above are as follows". Inox)ming resources Res￿rc8S e4Dend Gains and losses ovemènt in funds Unrestrlcted lund$ General lund 63 Lind8n Road IDesignaledl Children & Adult's Choir IDesignat&Jl Legacy Fund (Designated) Maintenance Fund IDe5ignatedl Special Fund (Designated) Centenary (Designated) Stay & Play Wam We*orne IDesignat8dl 108.361 2W1 186 5,470 327 (109.6661 ,5941 1881 (11,4401 16.3611 11.305) 14,793) 1.522 14.448} 16,034) 110 20.73S 21,397 16621 921 143.578 1137J46) I￿22 7,749 RÈstrieted lunds Action Aid Ageing Well Bookstall Fund Digikicks Projecl 1 Fabri¢ Furwj Flower Fund Heating FuTrJ Mernory Cafe Traidcraft Fund Youth Worker 427 20.585 {257) 124.820} 1661 121,888) 15,963} 1173) {20,3321 15,1041 1102) 170 {4.2351 1661 15.7681 15,6691 (1531 16.7181 2,207 16) 16,120 13,614 7,311 607 58,874 TOTAL FUNDS 218 1491 Page15 continuad... PCC OF ST FRANCIS. BOURNVILLE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 12. MOVEMENT IN FUNDS- Contlnuod CoM￿ratIveS for movement in lunds Net movement in lunds Transfèrs befvrfeen funds At 31.12.22 A11.1.22 Unr9Strlcled fund$ Géneral fund 63 Linden Road IDesignatedl Ageing Well (Dasignat￿l Children & Adult's Ghoir (Designat￿) Legacy Fund IDesignaledl Maintenanc8 Fund (Designated) Sp8oal Fund IDasignatedl St Peters Saltley Trust (Designat￿) 8,343 2,078 15,0001 3,343 5,669 17,000 278 109,972 6.102 652 32 3.591 17,000 459 118.065 3,422 724 32 11881 18,0931 12,3201 1721 5,000 143,29J 1571 1188} 143,048 R•strl¢ièd iLEnd$ Action Aid Ageing Well Bookstall Fund Bournville Parish Youth Digikicks Prgj¢¢t 1 Digikicks Project 2 Digikicks Project 3 Fabric Fund Flowsr FutNJ Heating Fund Memory Cale Traidcraft Fund Youth Worker 59 11.310 2.047 12471 14.6731 188 6,637 2,115 129 8,081 275 1,355 392 5,840 5,963 2800 6,706 15,8401 5,963 2,161 6,718 5,670 418 5,189 11391 8,718 5,670 418 4.542 647 34,355 8,793 188 43,336 Endowment funds Land & Buildings Fund 425.000 425,000 TOTAL FUNDS 602.648 Page16 continu¢d... PCC OF ST FRANCIS, BOURNVILLE M)TES TO THE FINANCIAL STATEMENTS. ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2023 12. MOVEPAENT IN FUNDS- contlnued Comparative nel M0￿ment in funds, uKluded in the abovè arè as follows.. Incorning resouices Rèsources expended Gains and losses Movement li funds Unr￿1￿¢￿￿ lunds General lund 63 Linden Road IDe5iunal8dl Children & Adult's Choir IDesWnat￿) L89acy Fund (Designaledl Maintenance Fund IDe5ign&tÈdl CA￿ Fund (Designalodl 114,719 4.200 48 1,907 2,369 1e8 1106,3761 12,1221 1411 17,8721 14,6891 8,343 2.078 12,1281 18,0931 12,3201 123,431 1121.3601 12,1281 157) Rastrlct8d funds Action Aid Ageing Well Bookstall FurK Digikicks Pmjad 1 Digikicks Project 2 Digikicks Proiad 3 Flower Fund Heating Fund Memory Cale Traidcraft Fund Youth Worfr use of Heating and Lighting Reirnburs8m8nt for eost of Photocopies Contribution to costs of Youth Worker Sdary 10,364 10,659 300 317 703 Total Incom& Re¢oivod 11,367 10 976 ExperKIItUTe p3ld io St Fra￿1$ Youlh and Community Centre PCC'S contribution to Salaries for the Parish A(frninistrator and the Treasurer Mernory Café roorn hirè PCC'S contribution to agency collections PCC'S contribution to electrical works Digikicks Room Hire Sundry expenditure items including leimt￿rS8M￿nI for Items paid on PCC'S behalf 15,744 16.280 1,240 1.425 667 21x1 13 Total ExpèrwJltur• Pald 17 224 18,385 The transactions between the two charthes ar& paid as they bewme due. There is a det¢or balance outstanding of £1.509.69 owed to the PCC by St Francis Youth and Community Centre at the year eThY. There are no other bÈban¢&s outstanding at the year end. Page18 PCC OF ST FRANCIS, BOURNVILLE DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR TrIE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total fthnds Unreslrid8d funds Restrict&l Endpwment funds luThJs INCOME AND ENDOWMENTS Donatlons and legachgs Planned Giving Collections Sundry Oonations Other Incorne IrKoma Tax Recovered Sundry Inwme 55,309 16.142 71,451 3,665 5.340 59,814 13.565 $4,822 2,418 16,636 63,079 13.152 297 5.115 31,1129 13,497 225 28.785 68 118,770 45.220 163,990 150,404 Fun(Iraislng ac￿vIll•S ChrisDnas Market Fundraising Traiduaft Sales Bookstall Sales Refreshments after Church 2,503 2,348 676 920 6820 131 19 7,051 90 7,141 5,611 Inv•stmont Incorne Dividends Interest C8F Deposit Fund 240 240 477 1,431 4,003 1,908 Charll?blp J¢tivRles Wedding Fees Funeral Fee8 1.087 1,087 1.934 2,455 772 200 2,821 3,021 3,227 othèr Income Heat & Light Photocopies Rent 63 Linden Fload 2.800 13,364 16,164 328 10.117 362 10.928 13.364 24,292 24.429 Total Incomirtg r8sourc•s 143,573 58074 202,447 185,579 EXPENDITURE Ralslng dO￿tIonS and 18gacio9 Administration Costs Carried lorwar 2,886 2086 3,087 3,087 2.886 Thi5 page does not fomi part of thg statuwry ffnancial stalernents Page19 PCC OF ST FRANCIS, BOURNVILLE DETAILED STATEMENT OF FINANCIAL AcTrvrriES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total lutKJs Unr8Stri¢Xed lund5 Restri￿0d Endowment funds nds RalsSng donatlons and l•gacl•s Brought forward Fundraising ExpendilLJrè Curate Expens9S 2,886 3.087 495 66 952 3038 3,e48 Othtrr tradlng actlvStlgs Opening sto Traidcraft Pur¢hases Bookstall EX￿n5¢S Closing stock 176 176 90 66 345 446 30 167 1fj7 Charitable aetivltl•s Rates and water Dioeésan Comnw)n Fund Ministry- General Expensès Ministry- Traval Expenses inistry- Vicarage Expenses Church - Heolirtg Church - Lvahb"ng Church - Insurance Church - General- Repair5 Church - Ggneral- Expenses Fixtures & Equipment Service5- Altar S8rvic6s- Music Children & Families Mission Aetivelmessy Church Church Salaries Administration Costs Youth Worker Youth Worker Expenses F88s, Subs & Training Photocopier Postage & Telephone Stationery Action Aid Bank Charges Professional Fees Refreshments Aging Well Expenses Charitable donation Carried forward 1201 51,5 1201 51,51)0 109 49.491 363 24 228 11,294 6,373 8,278 4,394 600 740 4,274 7,e17 10,271 1,193 1,925 9A20 16.875 10.160 21,149 7.617 10,271 1,307 1,925 1,064 14,985 114 515 10,710 675 54 3,251 11,394 14.985 276 73 15,471 73 15,471 1.936 1,936 57 1,106 1,953 235 130 257 127 5,655 106 51012 1.106 1.959 235 130 1,500 2,439 253 269 245 110 2,529 195 45,141 6CI 158.828 257 127 5.655 106 51012 119,390 80￿62 199,952 Thi¥ page does not form part of thè statutory finanual statement5 Page 20 PCC OF ST FRANCIS, BOURNVILLE DETAILED sfATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted funds Restr￿￿ EJ¥Jowmenl funds fU￿S Charltable activitLgS Brought forward IT Costs 119,390 930 562 15 199,952 945 158,628 1,638 120,320 80,57T 200097 160,266 Other 63 LirNJèn Road Expenses Miscellaneous Depre¢ialion Costs of Fixturas & Fittings 7,115 167 7,115 226 2,122 162 59 7,872 13 Total resources expended eo 137,346 ￿1)3 218.149 174.715 Nat {exp•nditurelnnco 21,929 10,864 This page does not form part of th8 Statutory finanrial statements Page 21