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2021-12-31-accounts

REGISTERED CHARITY NUMBER: 1127338

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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Report of the Trustees 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 25
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting Charities: Statement of Recommended Practice applicable to charities preparing _ their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015). OBJECTIVES AND ACTIVITIES Objectives The Parochial Church Council's objective is promoting, in the ecclesiastical parish, the whole mission of the Church. Public benefit The public benefit is served by the provision of pastoral care, Christian teaching, evangelism and public worship to which all are welcome. St. Martin in the Bull Ring remains a very significant place of Christian service located in the heart of Birmingham city centre, and open to the public as a place of prayer, peacefulness, historical and cultural merit. It is also highly valued as a gathering space for communities and organisations from across Birmingham and the West Midlands.

When planning its charitable activities for the year, the Trustees have considered the Commission's guidance on public benefit.

:

Grantmaking

Decisions on grant making from unrestricted funds are made by the PCC taking account of previous giving and congregation input and the vision and mission of the Church.

Volunteers

The organisation is reliant on substantial voluntary contributions in the form of time. Because of the difficulties in quantifying these gifts their financial effect has not been quantified.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH {ST MARTIN IN THE BULL RING) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

ACHIEVEMENT AND PERFORMANCE

Rector’s Report

There are different kinds of spiritual gifts, but the same Spirit is the source of them all. There are different kinds of service, but we serve the same Lord. God works in different ways, but it is the same God who does the work in all of us... All of you together are Christ's body, and each of you is a part of it. 1 Corinthians 12 v4-6, v27

In 2021, the mission and ministry of St. Martin in the Bull Ring - as with all areas of our national and personal lives - was far more affected by the continued challenges of Covid than might have been hoped and anticipated, not least with the Parochial Church Council (PCC) deciding to close the building to public worship and ministry from New Year till Easter. However, despite the very significant restrictions and challenges, St. Martin's showed enormous resilience, resolve, commitment and creativity in continuing the mission and ministry of our church. Clergy, staff and volunteers all ministered in close co-operation and mutual support as valued members of the body of Christ under the headship of Jesus to enable us to carry out the work of His Kingdom. Thank you to everyone for giving of their time, gifts, experience, skills, wisdom and energy.

Technology played a very significant part. Through the lock down months, we continued to provide pre-recorded worship via YouTube. With the resumption of public worship in the church building, with much hard-work and experimentation St. Martin's transitioned to providing live-streaming of our Sunday morning | worship and other special occasions. Enormous thanks to all those who have worked hard to make this possible and have continued to develop and improve this provision. ° Opportunities to join prayer online continued throughout the year three times each week. The Growing Roots discipleship and bible study groups grew in number both online and in person in the church building. The ‘Share-a-prayer’ initiative was launched and for anyone seeking help has provided almost immediate prayer support from the broad team of prayers.

Throughout the year opportunities to worship gradually resumed but all with fresh thinking and approaches. (For instance, new worship booklets for use at services of Holy Communion which reflect all the different liturgical seasons and celebrations of the Church year.) At each step, the PCC considered suitable health precautions to try and ensure St. Martin's was a 'safe' space for people to gather. Again enormous thanks to all those who worked with such dedication and thoughtfulness in helping us deal with these challenges. By the autumn, it had become possible to resume two Sunday morning services, our Tuesday Healing Service and Thursday lunchtime communion each week, and Sunday evening worship twice a month. Very importantly, our Monday morning Cuppa and Chat was also able to resume, along with opening up our premises for other organisations to use, and although some events were still cancelled, from autumn through to Christmas St. Martin's was able to host a significant number of special services and occasions, meetings, training etc. Wonderfully, the St. Martin's Centre for Health and Healing - who amazingly had managed to provide a full programme of counselling and therapy services online - were also now able to start slowly resuming activities within the building.

One very significant development, as a consequence of the virus and the necessity of health precautions, has been our ‘Open Church’ team - again a great example of clergy, staff and volunteers in ministry together. Throughout the year, the team ensured health guidelines were followed, but more importantly provided a personal and pastoral welcome to the many hundreds who visit the building each afternoon. This approach to ‘Open Church’ will continue and hopefully the team will grow. -

It has also been a time for the PCC to adopt and share a new vision statement for the church which it is hoped will provide inspiration and direction to our mission and ministry:

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN tN THE BULL RING)

;

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Grateful for our special place at the heart of the city, mindful of our wonderful history, and committed to loving our city; our desire is to honour our Lord, to make Him central to everything, and to seek the power of His Spirit, in order to become a church which is:

Revd Jeremy Allcock - Rector

FINANCIAL REVIEW

Financial review

During the year the Charity secured recognised revenue funding of £306,148 (2020 - £413,372). £220,629 (2020 - £299,217) relates to collection of donations and grant for regular activities. £51,999 (2020 - £43,731). relates to revenue from commercial activities. The costs defrayed in the year in delivering the charitable activities and support costs were £292,630 (2020 - £368,900). The Charity'’s investments achieved an unrealised gain in market value of £5,951 (2020 a loss of £12,499) and a realised gain on disposal of £877 during the year, leaving a surplus of £20,346 (2020 - £31,973). Total reserve funds are £282,389 (2020 - £262,043), which the Trustees consider adequate to support the charity's ongoing objectives. The Charity was adversely affected by the advent of the Covid-19 pandemic, which severely curtailed the operating activities of the Charity and its income generation capabilities during 2020 and into 2021. The Trustees have availed the Charity of government assistance via the Job Retention Scheme and in 2020 undertook a review of reserves and operating costs with the unfortunate outcome of undertaking a restructuring process and some necessary redundancies. The Charity was encouraged by the faithfulness of congregational giving and volunteering throughout 2020 and 2021 and by the take up in /ettings of its rooms with the easing of lockdown restrictions. The Charity faces continuing transition in terms of the age profile of the congregation and the redevelopment of the parish plus the need for work on the fabric. The Trustees consider that by the grace of God the Charity is well place to deal with these challenges.

Principal funding sources

The Charity's funding comes primarily from regular church giving, donations and grants - including a grant for the administration of salaries, £60,853, from St Martin's Trustees. The Charity also usually generates revenue from room hire.

Investment policy and objectives

Investments are made with a view to achieving real long-term growth in capital values and a rising income from a portfolio managed within a clear risk controt framework primarily by using the CCLA CBF funds referred to in the Reserves policy section of this report. Consistent with that policy the moving of investment from individual equities into the fund commenced at the very end of 2021 and has been completed by the date of this Report.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH {ST MARTIN IN THE BULL RING)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW

Reserves policy

It is the intention of the PCC to retain sufficient reserves to maintain the activities of the church allowing for the income on which they can reasonably rely. Notwithstanding the pandemic and restrictions, the level of reserves have now increased three years in succession by a total over that period of around £130,000 from a low of around £150,000 having depleted gradually across a number of years. The Trustees are thankful to God that through the faithfulness of the congregation in its giving during the pandemic and the generosity of a number of former members of the congregation through legacies it has been possible to undertake restructuring of Church activities and to return reserves to a level more commensurate with the scale of activities and the challenges and opportunities facing the Church. Some funds are invested in a portfolio of stocks and shares. Before the end of 2021 and moving into 2022 there has been a gradual move away from long held stocks and shares into the CBF (Central Board of Finance of the Church of England) fund managed in accordance with Church of England guidelines by CCLA, one of the UK's largest charity fund managers who only manage investments for charities, religious organisations and the public sector. Cash is deposited with the CCLA Central Board of Finance of the Church of England Deposit Fund and CAF Bank. Some of these Funds are restricted or designated as shown in these accounts. The balance is part of the General Fund and is drawn down when necessary, as the cash flow requires.

Going concern

The accounts have been prepared on the basis of being a going concern. The Trustees confirm that they have taken into account all available information about the future for at least 12 months from the date the accounts were approved and conclude that there is no uncertainty relating to going concern.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW

Finance & Staffing Committee Report

We are immensely thankful to God for his continued provision to St Martin's which means we emerge from 2021 in a stronger financial position that when the pandemic began. In 2019 the PCC shared the following financial principles which we seek to honour

o Arighteous attitude to money comes from a heart full of joyful love for the Lord

o Everything we have comes from God, belongs to God and should be used for the praise and glory of God o God is our provider and can be trusted, there is no reason for anxiety over money and resources o Godly wisdom and good stewardship are essential :

o God is generous and blesses people who are generous

We also identified a number of financial goals incliding, after a number of years of operating deficits and significant reductions in our reserves, balancing income and expenditure and restoring reserves to a level closer to Charity Commission guidelines. All in order to o provide sufficient financial resources to fund our vision priorities 0 prioritise resources for evangelism and mission in the city centre o extend our giving to support the work of the Kingdom of God in Birmingham and designated international projects

With the impact of the pandemic not all of our goals have been achieved but by the grace of God o We have had surpluses each of the last three years and even without the support from the government furlough scheme, we were around break even on an operating basis in 2021 o Although income was down by over £100,000 on 2020, due largely to our not receiving any legacies (unlike the previous two years), significant reductions in grants from third parties and the phasing out of the government furlough scheme, we were also able to reduce expenditure significantly, not least as a result of the restructuring undertaken during 2020

© Regular giving increased by around £5,000 after an increase of £8,000 the year before o Reserves have increased from a low in 2018 to a figure in line with Charity Commission guidance

With this provision and the continued faithfulness of our congregation in prayer, service and generosity of time and money we believe we are in trust and dependence on God in a good position to address the opportunities and challenges of

© Transition in terms of the age profile of the congregation and the redevelopment of the parish o The need for work on the fabric of our building, some of which is pressing; the building being a key part of our mission - a mark of a Christian community here in the heart of the City and a place where people come to find refuge, love, acceptance and forgiveness in the presence of our Lord.

Piease continue to pray with the committee that

The members of the Finance and Staffing Committee are Stephen Blair- Chappell, Jeremy Allcock, Clare Allcock and Christine McAteer and lan Baker. Particular thanks are due to Clare Allcock who undertook a huge amount of work in transitioning our accounting to new systems and in maintaining our accounts during a period of significant changes in staffing. We are very grateful for the service of Katie Day who stepped down in 2021.

lan Baker

Chair of Finance & Staffing Committee

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

SFRUCTURE, GOVERNANCE AND MANAGEMENT

Governance

The Parochial Church Council of the Ecclesiastical Parish of Birmingham Parish Church (St Martin in the Bull Ring), otherwise referred to as the PCC in this document, is registered with the Charity Commissioners (Registration No. 1127338). The Charity is governed by the Parochial Church Council Powers Measure {1956} as amended and Church Representation Rules.

Recruitment and appointment of new trustees

Members of the Parochial Church Council (Trustees) comprise (i) the clergy of the parish, (ii) lay readers licensed to the parish, (iii) the churchwardens, {iv) members of the General Synod, diocesan synod or deanery synod who are on the roll of the parish, and (v) representatives of the laity elected at the annual parochial church meeting..

Members elected at the APCM hold office for a period of up to three years and are eligible for re-election for a further three years.

Organisational structure

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 spent. The PCC are supported in this process by its sub-committees and working groups.

The day to day management of the charity is led by the Rector, with the active support of the clergy team, churchwardens, staff and key volunteers. :

:

Induction and training of new trustees

New members receive initial training into the workings of the PCC.

Pay policy for staff

The trustees consider the members of the PCC, who are the charity's trustees, and the clergy team as the key management personnel of the charity. All trustees give of their time freely and no trustee received remuneration from the charity in the year.

Staff pay is reviewed annually by the Finance & Staffing Committee. There is a commitment that no staff will be paid less than the ‘real living wage".

Related parties

St Martin's Centre for Health & Healing is an associated charity.

Risk management

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves around current levels, combined with an annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate any significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 4127338

Principal address

St Martin in the Bull Ring Edgbaston Street Birmingham 85 5BB

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN iN THE BULL RING)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

Revd Jeremy Allcock Rector Revd Elsie Blair-Chappell Self Supporting Minister Revd Matt Churchhouse Curate Revd Ivor Lewis Assistant Rector (appointed 25/2/21) Dr Rachel Jepson General Synod/Chair Mr Stephen Blair-Chappell Churchwarden Ms Alison Haywood Churchwarden Ms Emma Atkins Deanery Synod Mrs Jean Jepson Deanery Synod Mr John Gerighty Reader Mrs Marion Woodward Reader Mrs Bridget Cameron Elected Mrs Linda Cooper Elected Ms Kathryn Day Elected Mrs Nellie Gerighty Elected Mr Derek O'Dowd Elected Mr Colin Walker Elected Ms Loretta Jones (elected 9/5/21) ' Ms Joanna Murgatroyd (elected 9/5/21)

Independent Examiner Birgitt Saunders FCCA ACA Stanley Yule Chartered Accountants Waterside House 1649 Pershore Road Birmingham West Midlands B30 3DR

Stanley Yule Chartered Accountants : Waterside House 1649 Pershore Road Birmingham West Midlands B30 3DR Bankers Lloyds Bank Ple CAF Bank Ltd CCLA Investment Management Ltd New Street 25 Kings Hill Avenue 80 Cheapside Birmingham Kings Hill London B2 4QZ West Mailing EC2V 6DZ Kent ME19 4 JQ Approved by order of the board of trustees on ...< . S7......5-° Kh on 3.22.2°%2.....aos and signed: on its, behalf by

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Revd Jeremy Allcock - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH

Independent examiner's report to the trustees of The Parochial Church Council of the Parish of Birmingham Parish Church

Ecclesiastical

| report to the charity trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of Birmingham Parish Church (the Trust) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a registered member of FCCA ACA which is one of the fisted bodies.

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Birgitt Saunders FCCA ACA Stanley Yule Chartered Accountants Waterside House 1649 Pershore Road Birmingham West Midlands B30 3DR

Date? ens csa ROD.ResRerrsrnn

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|£|£| |INCOME|AND|ENDOWMENTS|FROM| |Donations|and|legacies|2|157,236|63,393|220,629|299,217| |Other|trading|activities|3|51,999|-|51,999|43,731| |Investment|income|4|3,221|-|3,221|3,068| |Other|income|5|20,999|9,300|30,299|67,356| |Total|233,455|72,693|306,148|413,372| |EXPENDITURE|ON| |Raising|funds|6|3,026|.|3,026|47,248| |Charitable|activities|7| |Charitable|grants|7,370|-|7,370|7,250| |From|other|collections|and|activities|.|276|276|358| |Birmingham|Diocesan|Common|Fund|97,481|-|97,481|97,481| |The|Ministry Team|2,260|9,300|11,560|5,313| |Church|and|services|55,068|1,278|§6,346|61,944|:| |Other|43,813|72,758|116,571|149,306| |Total|209,018|83,612|292,630|368,900| |Net gains/{losses) on|investments|6,828|:|6,828|(12,499)| |NET INCOMEEXPENDITURE)|31,265|(10,919)|20,346|31,973| |Transfers|between|funds|18|(993)|993|-|-| |Net movement|in|funds|30,272|{9,926)|20,346|31,973| |RECONCILIATION|OF|FUNDS| |Total|funds|brought|forward|239,682|22,361|262,043|230,070| |TOTAL FUNDS|CARRIED|FORWARD|269,954|12,435|282,389|262,043|

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The notes form part of these financiat statements

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

BALANCE SHEET

31 DECEMBER 2021

2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXEDASSETS
Tangible assets 14 §,093 . 5,093 6,896
investments 15 61,118 - 61,148 56,586
66,211 - 66,211 63,482
CURRENTASSETS
Debtors 16 44,401 . 44,401 13,651
Cash at bank 179,549 12,711 192,260 201,015
223,950 12,711 236,661 214,666
CREDITORS
Amounts falling due within one year 17 (20,207) (276) {20,483) (16,105)
NETCURRENTASSETS 203,743 12,435 216,178 198,561
TOTALASSETS LESS CURRENT .
LIABILITIES 269,954 12,435 282,389 262,043
NETASSETS 269,954 12,435 282,389 262,043
FUNDS 18
Unrestricted funds 269,954 239,682
Restricted funds 12,435 22,361
TOTALFUNDS 282,389 262,043

TOTAL FUNDS

The financial statements were approved by The Parochial Church Council - the Board of Trustees and authorised for issue on ik Deiat aie 3° ox Gee and were signed on its behalf by:

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Revd Jeremy Allcock - Trustee
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The notes form part of these financial statements

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements | The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ireland (FRS 102) (effective 1 January 2019), Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financiat statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The trust constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.

Financial reporting standard 102 - reduced disclosure exemptions The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’:

+ — the requirements of Section 7 Statement of Cash Flows.

Reconciliation with previous generally accepted accounting practice : In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS 102 a restatement of comparatives items was needed. No restatements were required.

Income

All income is recognised in the Statement of Financial Activities once the Charity has entittement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income and capital sources

Planned giving, collections and donations are recognised when received. In the event that a donation is subject to conditions that require a level of programme before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.

Tax refunds are recognised when the incoming resource to which they relate is received.

Legacy gifts are recognised on a case by case following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date and the PCC is tegally entitled to the amounts due.

Grants are recognised under the performance model and recognised when received or receivable where there are no performance-related conditions.

The organisation is reliant on substantial voluntary contributions in the form of time. Because of the difficulties in quantifying these gifts their financial effect has not been quantified.

Income from trading activities Room and church hire is credited in the period to which the hire relates.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

  1. ACCOUNTING POLICIES - continued

Income

Income from Investments Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Gains and losses on investments

Realised gains or losses are recognised when investments are sold.

Unrealised gains or losses are accounted for on revaluation of investments at balance sheet date.

Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. :

Following deregistration from VAT from 1 December 2020, all expenditure is accounted for inclusive of VAT.

Cost of raising funds The cost of generating funds includes the direct costs of occasional events.

Charitable activities The costs of charitable activities includes the direct costs of the ministry of the parish excluding clergy salaries which are not a charge on the PCC.

Contributions to the Birmingham Diocesan Common Fund are accounted for when due. Any part unpaid at the balance sheet date and which is to be paid in a later period is provided for in the accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.

Grants payable Grants and donations are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award and is accounted for when paid over, or when awarded, if that award creates a constructively binding obligation on the PCC.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets Consecrated land and buitdings and movable church furnishings Consecrated and beneficed property is excluded from the accounts by s.10 of the Charities Act 2011.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH {ST MARTIN IN THE BULL RING) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

  1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Moveable church furnishings held by the incumbent and churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the Church's inventory, which can be inspected (at any reasonable time). For inalienable property acquired prior to 1 January 1998 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 1998 have been capitalised and depreciated in the financial statements over their currently anticipated useful economic life.

Fixtures and Equipment

Fixtures and equipment, other than moveable church furnishings, are depreciated so at to write off the cost of each asset over its expected useful life. The rates currently in use are:

25% per annum for information technology equipment

15% on the reducing balance or 15% per annum for other equipment.

Individual items of fixtures and equipment with a purchase price of £500 are capitalised and valued at historical cost.

Fixed Assets Investments

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Investments are a form of basic financial instruments and are initially recognised at their transaction value and subsequently measured a their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses drising on revaluation and disposal throughout the year.

Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent on the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

General funds represent the 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.

Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in note 18. Any balance remaining unspent at the end of each year must be carried

forward as a balance on that fund.

The financial statements include all the transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main allegiance to another body, nor those of informal gatherings of church members.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH {ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

  1. ACCOUNTING POLICIES - continued

Donated services

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met and the receipt of economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the generat volunteer time of Volunteers is not recognised and refer to the trustee's annual report for more information about their contribution.

Debtors

Short term debtors ar measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction casts, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss account. :

Pensions

The charity makes contributions to a money purchase pension scheme for eligible employees. Contributions payable are charged to the Statement of Financial Activities in the period to which they relate

Redundancy Payments

The charity recognises redundancy payments when they fall due, either when a redundancy has taken effect or when the redundancy payment has been made, whichever is earlier. Where a redundancy has taken effect but not yet been paid, the charity policy is to recognise this as an accrued expense until such time as it is paid.

General information

These financial statements are presented in UK Sterling (£) because that is the currency of the primary economic environment in which the company operates.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

2. DONATIONS AND LEGACIES

DONATIONS ANDAND LEGACIES
2021 2020
£ £
Donations 21,545 13,306
Legacies 1,000 68,900
Grants (see below) 75,278 96,812
Regular giving 82,005 77,686
Giving at services and other voluntarydonations 16,023 21,586
Tax recovered 24,778 20,927
220,629 299,217

Grants received, included in the above, are as follows:

2021 2020
£ £
Bell Rope Croft 10,500 13,000
St Martin'sTrustees - grant for administration salartes 60,853 79,912
St Martin's Sunday Schoo} Fund 3,925 3,900
75,278 96,812 :

In addition to the above grants received, the charity was also eligible to utilise the Government's Coronavirus Job Retention Scheme (CJRS) to cover the salaries of eligible employees who were unable to work due to restrictions imposed during the pandemic. The charity utilised this scheme and received £20,999 in CJRS grants (2020 - £63,081) from the Government during the charity's financial year to 31 December 2021.

  1. OTHER TRADING ACTIVITIES
OTHER TRADING ACTIVITIES
2021 2020
£ £
Tea lounge takings - 10,632
Church fees 2,193 868
Room hire and food 29,646 12,071
St Martin's Centre for Health & Healing Lease 20,160 20,160
51,999 43,731

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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

4, INVESTMENT INCOME
2021 2020
£ £
Dividend income 3,132 2,917
Bank interest 89 151
3,221 3,068
5. OTHER INCOME
2021 2020
£ £
CJRS Grants 20,999 63,081
Rentcontribution for Curate's Housing 9,300 4,275
30,299 67,356
6. RAISING FUNDS
Othertrading activities
2021 2020 ;
£ ia
Tea lounge costofsales - 6,288
Tea loungewages - 38,749
Tea lounge overheads - 104
Room hire costs 4,223 -
Depreciation 1,803 2,107
3,026 47,248
a CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct activities Support
Costs (see (see note costs (see
note 8) 9) note 10) Totals
£ £ £ £
Charitable grants : 7,370 - 7,370
From other collections and activities - 276 - 276
Birmingham Diocesan Common
Fund 97,481 - - 97,481
The MinistryTeam 41,560 - : 11,560
Church and services 39,834 - 16,512 56,346
148,875 7,646 16,512 173,033

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

8. DIRECT COSTS OF CHARITABLE ACTIVITIES
2021 2020
£ £
Utilitiesand insurance 33,535 38,703
Common fund contribution 97,481 97,481
Parochial fees 1,497 471
Ministry team expenses 11,003 5,313
Music and Worship 1,677 17,523
Otherchurch service costs 3,682 1,710
Irrecoverable VAT - 3,426
Outreach ° 111
148,875 164,738
8. GRANTS PAYABLE
2021 2020
£ £
Charitable grants 7,370 7,250
From other collections and activities 276 358
7,646 7,608 :
2021 2020
£ £
Charitable grants 7,370 7,250
From other collections and activities 276 358
Church and services - -
7,646 7,608
The total charitable grants paid to institutions during the yearwas as follows:
2021 2020
£ £
Church Missionary Society 1,750 1,750
Open Doors 1,750 1,750
Restore 1,750 1,750
St Martin'sYouth& Community Centre 2,000 2,000
Other 120 -
7,370 7,250
Decisions on grant making from unrestricted funds are made by the PCC taking account of previous
giving and congregation input and the vision and mission ofthe Church.
The total paid from other collections and activities during the yearwas as follows:
2021 2020
& £
Angel Tree 276 358
276 358

continued...

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |10.|SUPPORT|COSTS| |Management|Finance|Totals| |£|£|£| |Other|resources|expended|116,389|182|116,571| |Church|and|services|16,512|-|16,512| |132,901|182|133,083| |Governance|Costs:| |£|£| |Independent|Examination|1,400|1,000| |Support|costs,|included|in|the|above,|are|as|follows:|

----- End of picture text -----

Management

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2021|2020| |Other|Church| |resources|and|Total|Total|.| |expended|services|aclivities|activities| |£|£|£|£| |Wages|and|other|staff costs|98,997|.|98,997|126,118| |Church telephone|3,043|:|3,043|2,437| |Postage|-|-|-|§34| |Repairs and|renewals|-|16,512|16,512|9,234| |Staff training|&|clergy conference|-|:|-|60| |Photocopying|2,757|-|2,757|2,581| |Printing|and|stationery|1,495|:|1,495|1,498| |IT|support &|maintenance|4,218|-|4,218|668| |Subscriptions|979|-|979|2,205| |Accountancy|costs|-|other|3,500|-|3,500|2,500| |Independent|Examination|1,400|-|1,400|1,000| |116,389|16,512|132,901|148,835|

----- End of picture text -----

----- Start of picture text -----
||||| |---|---|---|---| |Finance| |2021|2020| |Other| |resources|Total| |expended|activities| |£|£| |Bank|interest & charges|182|471|

----- End of picture text -----

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

  1. TRUSTEES' REMUNERATION AND BENEFITS

No trustee or person related to them received remuneralion or other benefits other than Revd E. & Mr. S Blair-Chappell's son, who was employed by the PCC during the year and received remuneration of £1,497 (2020 - £2,929).

Trustees’ expenses

Two trustees were paid a total of £1,345 (2020: £nit) for travelling expenses relating to their voluntary work for the church.

  1. STAFF COSTS

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Wages|and|salaries|96,876|173,278| |Social|security costs|910|4,741| |Other pension|costs|1,212|2,190| |Coronavirus Job|Retention|Scheme|Grants|(shown|in|Other| |Income)|(20,999}|(63,081)| |77,999|417,128|:| |No|employee was|paid|£60,000|or more.| |2021|2020| |The|average|monthly number|of employees|during|the|year was:|9|13|

----- End of picture text -----

The numbers given are based on the monthly headcount. Full time equivalent numbers would be significantly lower because of the number of part time employees. The headcount at the year end was: 9 (2020: 9).

The day to day management of the charity is led by the Rector, with the active support of the clergy team, churchwardens, staff and key volunteers.

  1. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|—_|Restricted|Total| |funds|funds|funds| |£|£|£| |INCOME|AND|ENDOWMENTS|FROM| |Donations and|legacies|184,521|114,696|299,217| |Other trading|activities|43,731|-|43,731| |investment|income|3,068|-|3,068| |Other income|63,081|4,275|67,356| |Total|294,401|118,971|413,372| |EXPENDITURE|ON| |Raising|funds|47,248|-|47,248|

----- End of picture text -----

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

13. COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES -continued COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES -continued continued
Unrestricted Restricted Total
funds funds funds
£ £ £
Charitable activities
Charitable grants 7,250 - 7,250
From other collections and activities - 358 358
Birmingham Diocesan Common Fund 97,481 - 97,481
The Ministry Team 1,038 4,275 5,313
Church and services 60,039 1,905 61,944
Other 51,465 97,841 149,306
Total 264,521 104,379 368,900
Netgains/(losses) on investments (12,499) . (12,499)
NETINCOME 17,381 14,592 31,973
Transfers between funds (2,050) 2,050 -
Netmovement in funds 45,331 16,642 31,973 ;
:
RECONCILIATION OF FUNDS
Total funds broughtforward 224,351 §,719 230,070
TOTAL FUNDS CARRIED FORWARD 239,682 22,361 262,043
14. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
E
CcoOsT
At1January 2021 and
31 December 2021		 115,126
DEPRECIATION
At1 January 2021 108,230
Charge foryear 1,803
At 31 December 2021 110,033
NET BOOK VALUE
At 31 December 2021 5,093
At31December2020 = 6,896

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

14. TANGIBLE FIXED ASSETS- continued

The Birmingham Diocesan Trustees Registered hold as bare trustees for the PCC a property in Deritend currently leased to and occupied by St Basil's Housing Association. No value has been assigned to this asset in the financial statements.

15. FIXED ASSET INVESTMENTS

FIXED ASSETASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 January 2021
Disposals
Revaluations		 56,586
(1,419)
§,951
At 31 December 2021 61,118
NET BOOK VALUE
At 31 December2021 61,118
At 31 December2020 56,586 i
TherewerenoinvestmentassetsoutsidetheUK. :

Cost or valuation at 31 December 2021 is represented by:

Listed
investments
£
Valuation in 2021 61,118
31.12.21 31.12.21 31.12.20 31.12.20
Cost Market
value		 Cost Market
Value
£ £ £ £
2000 Charifund Units 10,050 31,124 10,050 27,451
UK listed investments 10,342 29,994 13,288 29,135
20,392 61,118 23,338 56,586

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

16. DES8BTORS: AMOUNTS FALLING DUE WITHIN ONE DES8BTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors - 410
Other debtors 400 -
Associated charities . 1,722
Gift Aid Tax Recoverable 30,778 6,000
VAT - 77
Accrued Income 12,448 4,667
Prepayments 775 775
44,401 13,651
17. CREDITORS: AMOUNTS FALLING DUEWITHIN ONEYEAR
2021 2020
£ £
PAYE& National Insurance 1,382 §72
Other creditors 6,738 6,697
Accrued expenses& deferredincome 12,363 8,836
20,483 16,705 ;
18. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.21 in funds funds 31.12.21
£ £ £ £
Unrestricted funds
General fund 236,405 31,265 (993) 266,677
Choir robes 1,498 ° - 1,498
Websitedevelopment 1,779 - - 1,779
239,682 31,265 (993) 269,954
Restricted funds
Altar Frontals : (993) 993 -
Angel Tree Charity 2,378 (276) - 2,102
BDBF Redecoration Fund 2,050 1,000 - 3,050
Memorial Boards 4,059 - - 4,059
Mission Worker 42,500 (12,405) - 95
Organ repair 1,374 (15) . 1,359
VulnerableAdults /Cuppa & Chat - 1,770 - 1,770
22,361 (10,919} 993 12,435
TOTALFUNDS 262,043 20,346 - 282,389

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

  1. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

incoming Resources Gains and Movement
resources expended losses in funds
FE, £ £ £
Unrestricted funds
General fund 233,455 (209,018) 6,828 31,265
Restricted funds
Altar Frontals 200 (1,193) - (993)
Angel Tree Charity . (276) . (276)
BDBF Redecoration Fund 1,000 - . 1,000
Curate's Housing 9,300 (9,300) - :
MisstonWorker - (12,405) . (12,405)
Organ repair 60 (75) - (15)
St Martin'sTrustees re salaries 60,353 (60,353) - -
Vulnerable Adults /Cuppa& Chat 1,780 (10) - 1,770
72,693 (83,612) - (10,919)
TOTALFUNDS 306,148 (292,630) 6,828 20,346
Comparatives formovement infunds
Net Transfers
movement between At
At 1.1.20 in funds funds 31.12.20
£ £ £ £
Unrestricted funds
General fund 151,259 17,381 67,765 236,405
Choirrobes 1,498 - - 1,498
Special Reserve Fund 69,815 : (69,815) .
Website development 1,779 - - 1,779
224,351 17,381 (2,050) 239,682
Restricted funds
Angel Tree Charity - 1,642 736 2,378
BDBF Redecoration Fund - - 2,050 2,050
Memorial Boards 4,983 (924) - 4,059
MissionWorker - 12,500 - 12,500
Organ repair - 1,374 - 1,374
Other funds 736 - (736) -
5,719 14,592 2,050 22,361
TOTAL FUNDS 230,070 31,973 - 262,043
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH (ST MARTIN IN THE BULL RING)

! |

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

  1. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Incoming|Resources|Gains|and|Movement| |resources|expended|losses|in|funds| |£|3|£|£| |Unrestricted|funds| |General|fund|294,401|(264,521)|(12,499)|17,381| |Restricted|funds| |Angel Tree Charity|2,000|(358)|-|1,642| |Curate’s|Housing|4,275|(4,275)|-|-| |Flowers|wall|box|44|(44)|-|-| |Memorial|Boards|-|(924)|-|(924)| |Mission Worker|12,500|-|-|12,500| |Organ|repair|3,190|(1,816)|-|1,374| |St|Martins|Sunday|School|Fund|4,050|(4,050)|-|-| |St|Martin's Trustees|re|salaries|79,912|(79,912)|-|-| |The|Bell|Rope|Croft|13,000|(13,000)|-|-| |118,971|(104,379)|-|14,592|;| |TOTAL FUNDS|413,372|(368,900)|(12,499)|31,973|

----- End of picture text -----

Designated Funds

The Choir robes and Website development funds were established in 2011 from the proceeds of a gift day. The various projects are continuing for the Choir robes and Website development funds.

Restricted Funds

St Martin’s Trustees provide funding towards the cost of staff salaries. The Ange! Tree Charity fund holds donations for said charity that have not yet been utilised. The BDBF Redecoration Fund is money held by the BDOBF on St Martin's behalf to be used for tedecorating costs.

Altar Frontals was restricted income for altar cloths, Expenditure in the year was higher than restricted income so the difference was transferred from general fund to balance.

Vulnerable Adults / Cuppa & Chat received restricted income in the year but little expenditure so majority is carried forward to next year.

Memorial Boards fund is money held for the maintaining and repair of the memorial boards. Mission Worker fund is money held to fund the wage costs of the mission worker. Organ repair fund is money held for the purposes of repairing the organ.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF BIRMINGHAM PARISH CHURCH {ST MARTIN IN THE BULL RING)

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2021

49. EMPLOYEE BENEFIT OBLIGATIONS

The charity makes contributions to money purchase pension schemes for certain employees. There is no fong term commitment. The total charge for the period was £1,212 (2020: £2,190).

20. RELATED PARTY DISCLOSURES

The charity received donations from Trustees of £24,944 (2020: £32,597).

During the year the charity was related to St Martins Centre for Health & Healing a charitable limited company.

Ouring the year the following income was received from St Martin’s Centre for Health and Healing:

2021 2020
£ £
Rent 20,160 20,160
Shared overheads 8,358 8,390

Page 25