ALL SAINTS, CHURCH- FOUR OAKS FINANCIAL STATEMENTS OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31st DECEMBER 2023 INCUMBENT: Rev Leanne Carr 26 All Saints Drive Four Oaks Sutton Coldfield B74 4AG BANKERS: (CHURCH) H.S.B.C. BANK P.L.C. 114 High Street Stourbridge DY8 1DZ (CENTRE) H.S.B.C. BANK P.L.C. 67 The Parade Sutton Coldfield B72 1PD INDEPENDENT EXAMINER lan Stewart Brown FCA Churchlll Groves 4 Cannock Road Chase Terrace Burntwood Staffordshire WS7 1JP Reglstered Charlty Number: 1127355
CONTENTS Item Page No. Annual Report Independent Examiner's Report 12 Statement of Financial Activities 13 Balance Sheet 14 Accounting Policies 15 Notes to the Financial Statements 18
ALL SAINTS, CHURCH FOUR OAKS suON COLDFIELD ANNUAL REPORT 2023 AIM AND PURPOSES All Saints Four Oaks Parochial Church Councll {PCC) has the responsibility of cowp8rating with the in¢umbent in promoting in IPE ecclesiastical parish, the whole mission of the Church. pastoral. evangelistic, SOGial and ecumenical. Haviro been in Vacancy for eighteen months. the parish welcomed the Reverend Leanne Carr as our new incumbent in October 2023. Leanne is also the incumb8rrt of our neighbouring parish, St James,, Hill. TIE PCC also has responslbllity for maintainlro the church building and All Saints, Church Centre and grounds, in¢ludlng the communty bLFilding and storage building which are occupied under licence by the Scout and Guide groups affiliated lo Al Saints, together with the fomier Curats's House at 2 Knightsbridge Close. OBJECTIVES AND ACTIVITIES The PCC Is committed to enabling as many people as po$$ible to share our worship and to become part of the parish community at All Saints. The alm is to offer services to involve the many groups thal live within our local area. Our worship. both in fonnal services and more relaxed actlvities such as Messy Church. puts faith into practice through pray8r and scripture, music and sacrament. The PCC also ccpordinates our mission work, both within the parish and further afield. There are currenly three sut>committees which report to the PCC. These are the Chur¢h Centre committee, whlch oversees the Centre managers and decides the bn)ad strategy of how the Centre can further the alms of the church., the Children and Families committee which focuses on the inclusion of youThJ people within the All Saints. family, and the Chartties committee which recommends the allocation of funds raised for mission and chartiy work. There is also a Pastor81 team which assists with pastoral care of IIKJS8 in need, particularly the sick arKi infirm, atKJ works in conjunction wth the incumb8nt. It is likely that the structure and function of PCC sutrpcommittees will be reviewed by the Vicar in IF coming monlhs. When planning our activtiies for Ihe year. we have considered the Charity Commission's guidance on public benefit, and especially the supplementary guidate on charities for the advancement of religion. In particular. we try to enable ordinary people to liv6 out their faith as part of our parish communty through: . Worship and prayer, leaming aboLrt the Gospel and dev&loFing their knowledge and trust in Jesus Christ. . Provision of pastoral care for people living in the parish. . Missionary and outreach work To facllltate this work, the PCC understsnds that it is imFX)rtant that the fabric of the church building, the Church Centre and the community bulldlngs is regularly maintsined. In order to idenlfy any risks in rélation lo buildings, professional quinquennial inspections are performed. The 12St inspection of the Church wa5 held in 2019, which confimied that the building has been well maintained in the past. The minor works recommended We completed during 2022. Professional insp8Ctions of electrical systems, gas boilers, fire extinguishers and the church lightning conduclor are also perfO@d periodically, and insurance aangements regularly UFthted. As an added security measure. the Church Centre is covered by CCTV. The PCC has also put in place a Health and Safety policy and a Safeguarding policy to which Centre hirers are UIred to adhere, a Privacy policy. a Risk policy and policies for responding to Domestic Abuse, Lone Workers, Employment of Ex-offenders and Whi$tl&blowers. All policies are reviewed and updaled annually. Separate funds are kept for the maintenance of buildings. the organ and the Curate's House.
ACHIEVEMENTS AND PERFORMANCE During the Vacancy the parish nefited from the assistsnce given by the Rev'd Roger Sheppard and the lay members of our congregation who have led All Age services. PCC has been grateful for th8 guidance of the Area Dean, the Rev'd Ann Richardson, and we have also had the pleasure of welcoming many visiting clergy and lay leaders from wh1n the Deanery and the Diocese to lead our services. Worship, Music and Dlsclplèshlp Thè PCC alm$ to offer a fange of services in a variety of styles during the week and ov&r the course of the year, that our community find bolh beneficial and spiritually fuffilliro. All are welcome to attend our regular services. In aGGordance with the Church Representation Rules 220, the Electoral Roll was upyated prlor to the 2023 Annual Paro¢hial Church Meeting (APCM) held in May arvj listed 111 memb8r5 1118 members In Aprfl 2022). Following the Introductlon of Zoom service5 during the pandemlc kxkdowns, hybrid Sunday moming services held in church but also available on Zoom have generally been continued throughout the year. Prior to Adrian Leahls retirement, the purchase of upgraded audio&Vi$LJal equipment for the church was being invesligated, in order to provide the best possible experience for church members both in church and at home. This project was paused during the Vacancy, but followng Leanne's app)Intment, further consideration will be given to how best to sharo our serviS as widely as possible. Wednesday moming s8Nices, nomialty an lona style Communion $eNice, have contiNed to be popular, and provide a quieter more reflective exrfence. We hgve been pleased to welcome several members of St James church to these services. Monthly Messy Chur¢h services have continued on the second Saturday of the mcth throughout 2023, with a good numb8r of families attendlng on a regular basis aThl new familie5 joining most months. The sessions ¢omprfse several themed activities in the Gent, followed by 8 short worship time in church, then tea back in the Centre. W8 have benefitted from a regular helFW from St James, and sever81 members of our congregation help wlth food and activities. Al are welcome to join these services, with or wthout youngsters. On Good Friday a very 5uttessful Messy Easter Breakfast was attended by Several Messy Church famili6s as well as members of our regular Sunday congregation, followed by the Walk of Witness lo Mere Green to attend the ecumenical service outside St James.. PCC continues to look for ways of strengthening the connection tween Messy chUh families and the Sunday and Wednesday congregations. Weekly Stations of the Cross seNlces were led by lay people throughout Lent and a fijll rarye of services was offered at Easter, including a sunrise service on Easter Day followed by breakfast. The church was full for the Mothering Sunday parade service which was a nonvEucharistic alkage service, led by Sally Cox and Sharon Saunders. We also welcomed members of the unlfomied or9anisations to parade services to ¢elebrate the HaNest FestlV81 and Remembran¢e Sunday. An afternoon All Souls service wa5 held on 29 Octoter, and th8 followng week we celebrated All Saints. day with a Patronal lunch. where we were joined by fri8nds from St Jame$'. The busy Christmas seawn included visits from th& local primary schools who held Iheir carol services in church, and a very popular Christingle setvice on Christmas Eve. Building on Ihe success of lasl yearfs event. the Christmas tree festival was held over 3 days the week before Christmas, finishing with our carol service on the Sunday aftemoon. We have been wtthoul a Dlrector of Music throughoLrt the year. $0 we have welcomed several different organists to provide music for our $eNices. induding our traditional carol seNice.
The important funeral ministry continued, wlth 6 funerals in church and 1 at crematoria, and some of these services We also streamed on the intemet. There were also 9 baptisms in church and 1 wedding. Being without a Vicar for much of the year, 2023 continued to present challenges. but assistsnl and visiting clergy, the Wardens, leam and church members have demonstrated adaptability and flexibilty in sharing our worship as widely as possible. Now Ihat we have welcomed Leanne as our new incumbent. the pattem and variety of seNices will be reviewed to ensure we offer a wide range of worshlp opportunities. Mission. Outreo¢h and Communlcatlon The principal oulrearh organisations affiliated to All Saints are the long established Mothers, Union branch which provides fellowship for members while doing valuable work locally and worldwide, the scout and guide groups which continued to provide a full range of meelirrfJs and physical activities throughout the year, and Little Seedlings stay and play group for pre-school children which is so )pular that it is full to capacity most weeks. Several of th8 Little See<Jlings families hav8 joined Messy Church or other All Saints activili8s. A weekly Knit and Natter group provides fellowship for severdl of our church members and fiiends from St James.. The coronation of King Chafles111 was ¢8lebrated with aftemcon tea, wilh ea in a box. délivered lo some of our housebound members. A new ventur8 for All Salnts was a summer party h&ld on 2, Septemr. The party ran throughout the aftemoon and evening and was attended by around 100 people. There was a delicious barbecue, and perfomiances by a wide range of talented musicians. as well as some games and stslls. AhOUgh intended primarily as a community event, a modesl profit was made, arnl plans are already being made for an even bigger and better party in July 2024. Sharon Saundets again organised a Posada during Advent, which is a lovely way to prepare for Christmas and much valued by families from Messy Church and Litue Seedlings and other churGh members who took part. The Christmas tree festival In church gave another opportunty for All Saints to engage with the local community, and useful charitable donations were also received. In addition to more than 20 beaLrtrfully decorated trees to admire, visitors were entertained by a variety of musicians and could enjoy dellclous refreshments. Children were able to pay a vish to Santa's grotto. follow a Reindeer trail and take part in plenty of other family friendly activf(les In the Centre. Although we do not have the resources to deliver Christmas cards to all residents of th& parish, card giving detsils of Christmas activities at All Saints was produced and made 8V8ilable to church members and Cerrtre users, and local school children ceiVed an electronlc version. It is the policy of the PCC to donate at least 5% of income from nomal givlng to a wide range of Ioc81. national and intemational mlssions and charities, ar the Charilies sutKommittee of the PCC makes a recommendation to the PCC of organisations to be supported. Although we have not held a significant fvndraising event such as the pre-pandemic Christmas market, various smaller social aTh community events have made some contribution to our charitsble giving. We continue to sp)nsor a child, currently Million from Ethiopia. through the Worfd Vision charity, a5 we have done for many years. During the year, David East volunteered to act as Eco charn0n for All Saints, and with his guidance All Saints has achieved the Bronze Eco Church award. We are now workiro towards Sifver. The Church Centre provides a valuable community resource for a large variety of local organisations. and the rnanagers work hard to promole innovatlve activities. Constderation continues to be given to how the Church Centre can be best used for mission purposes.
The monthly parish magazine ha5 been produced thrO]hoUl 2023, ar)J work is continuing to en$ure that the church website and social media are regulady updated 2nd deveb¥ed. Deanory Synod Three members of the PCC also sit on the Deangry Synod which is int8nd8d to provide the PCC with an important link beeen the parish atyj the wider structure of the church. In 2023 there were three meetings. with a wid8 variety of subjects baing discussed. A Deanery Synod report will be made available for the Annual Parochial Church Meeting. Chur¢h Centre We are fortunate to have our excellent and well-malntalned Church Centre building, which has aays been very well used, t#)th by thurch groLPS paying clients. We also have the benefit of a modem communty building and slore, used mostly by the scout and guide groups affiliated to All Saints, but also hired out to paying clients. The Centre commtttee oveT5ees Ihe Centre managers slaff, all ot whom contribute to ensuring that the Centre provides a useful community source and extends the mission of the church. A Church Centre report is attached to this amual reForL Pastoral Care Members of the team assist the clergy in visiting the Sk, frail and bereaved in ihe parish, and Home Communion is also offered to those who request it. Churches Together In Four Oaks All Saints has a representative on the ¢ommittee of Church8s Together in Four Oaks. The principal event in 2023 wa5 the well-8ttended outdoor Good Friday servlce in Mere Green in glorious sunshine, with live music proving popular. In the past, activities have irlUded joint services thr88 time a year as well a5 on Good Friday, social events. the delivery of Easter cards and ¢arol singing in me Green. and il is hoped that some of these may be resumed in fLrturo. Conclusion It is recognized that we are very fortunate in having well-maintsined buildings and h8althy financial reseNes, which ensure that we are well placed for the future. The PCC looks forward to Continuing to play its part ir) developing the worf( of the Church in Four Oaks. and we express our sincere appreciation to all who have supported All Saints during the year, whether financially or in many other ways.
FINANCIAL REVIEW The combined accounts for All Saints in 2023 showed d8ficits of (£9,111) for the Church and1£2,391) for the Centre, a total of (£11.502). Comments relating to Centre are included laler in this report and the details given below relale only to th8 Church. Unfortunately last year il was antlcipated that we would probably be facing a signrficant duCtIon in the level of stewardshiplcollections income during 2023. Sadly this has proved to be the case as we saw a reduction of £7,983 and, in addition, the tax recovery from gift aided contributions was £1,798 low8r. We have endeavoured to contain overheads where possible but, unfortunately, the significant Increase in gas and electricity rates increased these charges by £2,294 during the year. and the reduction in rates introduced on our annual review wilh effect from October 2023 was particulady welcomed. The maln items of expenditu were £2,448 in resp8¢t of the replacement of light bulbs both inside and outside the building as many wefe not working, and £550 for the 5 yeady electrical insF*dion. Both of these charges beiry net of vat as it has been recovered UFYJer th& Listed Places of Worship Grdrrt S¢heme. Fortunately on the income side we saw an increas8 of £7.743 In Interest rec8ived and dividends from our investments. In this latter respect it is perhaps worth mentioning a follow up to the comments last year when we drew attention to our longstarKling investment wilh the CBF Church of England Investment Fund. Full details are included on Page 23 in this rewrt and over 2022 we saw a reduction of £28.848 in Ihe valuation compared with the end of 2021. Thankfully we are able to report that the value increased by £20,467 over 2023. What was our former Curate's house {2 Knlghtsldge Close) continues to r8present a particulady useful investment which produced a nts1 income of £18.650 during 2023. although this was partially oftset by expenditure of £6,271, part of which was in respect of some improvements necessary at the beginning of the year prior to new tenants moving in. OUT Common Fund liability of £60.000 to the Diocese was paid in full and £4.438 was donated to missions and charilies. However during 2024 we are finding it necessary to pursue the recruitment of some administration support and, unfortunately based on our budget forecast, this has resulted in us having to redu our Common Fund payment to the Diocese to £50,000 in 2024.
CENTRE REPORT Th8 Church Centre continues lo serve the chwch and the local community as a popular place for church and communty activities. It has been good to see, in 2023, more diverse communrty and church groups using the building for various actwities. Hard work and effort have gone into encouraging new groups and running the Centre as efficiently as possible. The contin1 financial sf(uation has presented dWficules, but the business is in a heallhier p)sition now compared lo end of last year. In 2023 running costs Increased and the rise in fuel PriGes was a burden almost doubling th& cost of electricity and gas. There have been increases in ts usual annual service costs for kttchen equipment and the gas boilgr, for door and partition maintenance, for alami seNices, electrical system maintenance 8nd equipment testing, with replacements necessary when equipm8nt has wom out. The managers and committee acknowledge the importance of maintaining the facilities and appearance of the building to attract customers. The staff were awarded pay riges in April, based on the Real Living Wage. All of this had a mathed effect on the finances and sUlted in the end of year operating account showing a loss of £2,391. The reserves are still healthy and have been called upon only once. Childn,$ blrthday parties continue to be popular gNing the opportunity for families to be made aware of Messy Church and Little Seedlings. The latter continue with In¢asIng success. There are a good number of regular daily bookings, filling evening spaces is more difficult and weekend partl8s are few and far beeen. The bar loss was reduced by limiting bar op8ning to one night a week. This situation will continue to be reviewed. The wwer of the website and the use of social media has helped the awareness of what is offeTrd. The hard work of the centre managers and casual staff continues to ptDmote a pleasant and friendly atmosphere aTrJ is acknowledged by many who visit t Centre. The Communty Buildings, in All Saints, Drive. used primarily by all thg unifomied groups, (but are managed by and Included In the TinareS of the Centre), Conlin to be self-financing. There has been an increase in their usage by outside groups. and the increased income from thls has helped reduce the cost of using the building for the unrformed groups. A small grant of just over £1,000 was acquired from Sutton Coldfield Neighbouthood Network Scheme for a new water heat&r and microwave for the benefit of all users of the bulldir•3. Committee members are confident that the finanGlal Situation of th8 Centre wll contlnue to Improve and the buildings will continu8 to seNe the church and communty and they wlll continue to work together with All Salnts, Church in its mission. We look foard to celebratiru the So birthdayof the Cèntre In 2024.
INVESTMENT POLICY AND POWERS All investments are agreed by Ihe Trustees and have regard lo the Charity Commission guidance in relation to charity investment w>licy. RISK POLICY During the year, signrficanl risks to which the PCC may be exposed hav8 been identrfied and documented to ensure that appropriate safeguards are in place to mttigate the impact of those risks. Risk was considered under five principal categories (Govemance, Operational. Financial, Regulatory and Extemal). RESERVES POLICY It is the lIcY of the PCC to maintain free reserv85 at leasl sufricient to cover three areas: £100.000 to speThl on misslon initiatives over the next five years. £100,000 to cover the possibility of major repair5 being required to th8 building, and enhancing and equipping to suit the needs of a growing church. and a sum to cover six months running costs, which based on 2023 figures amounts to £98,442. Current free reserves amount to £283,142, whilst a5 al 31 December 2023 there is shortlall ot £15,300, this does rM)t take into account 0r available investment5. This polry has remained the same for a few years and it may well need to be vieWed wh8n our new incumbent h8s setued into hèr new position. PLANS FOR FUTURE PERIODS It remains IMrtant for the PCC to continue making a full Common Fund contribution. However as indicated in our Financial Review on Page 7 we have unfortunately found it necessary to reduce this amount from £60.000 to £S0.000 in 2024. We continue to make our Sunday Service available on zoom for those unable to get to church. However we are still investigating the possibiltty of updating our existing audio visual equipment as we can encounter woblems at times.
10 STRUCTURE GOVERNANCE AND MANAGEMENT The method of appointment of Parochial Church Council members is set out in the Church Representation Rules. At All Saints the membership of the PCC consists of the incumbent (the Vicar if in post). the Curate {if in postl. members of Deanery Synod, lh8 Churchwardens, co-opted members and members elected al the annual meeting by those on Ihe church electoral roll. All members of th8 congregation are encouraged to regisler on the roll and are invited to stand for election to the PCC. The PCC is responsible for making d8cisions on all matters of general concern and imporlan¢g to th8 parish. including deciding on how the funds of lh8 PCC are to be spenl. Th8 full PCC met eleven times during 2023. with an average altendance of 84Yo. The PCC has complied with its duty under Section 5 of the Safeguarding and Clergy Discipline Measur8 2016 to hav8 due regard to the House of Bishops, guidance on safeguarding children and vulnerable adults. The various sub-committees listed below are responsible to the PCC and report back to it regularly, with minutes of their decisions circulated to all PCC members and discussed by the full PCC as necessary. Until the commencement of the Vacancy. there were also sub-committe8s for Worship, Music and Dlscipleship, and for Mission, Outreath and Communication. Wilh the appointment of our new incumbent, it is anticipated thal the structure and responsibilities of PCC SucoMMitteeS will be subject to review. Standing Commlttoo This is the only committee required by law. It meets lo transact PCC business beeen PCC meetitvJs, subject to any directlons given by the PCC. It covers fabric and finance matters. including income. expenditure and reserves, and considers Christian Stewardship. It also oversees PCC policies and procedures. Church Centre committee This committee provides strategic leadership and ensures accountabilily, oversight and assurance for the perforrnance of the Church Centre and Community Buildings. induding the support of the Cenlre managers. Pastoral Tèam Membefs of the team assist the clergy in the pastoral ¢are of church members. Children's and Families, committe& This committee plans provision for children, particularly Messy Church and all age worship, and overse8s our links with local sch¢)ols and youth organisations. Charitie8 committee This recommends to the PCC how charity monies should be distributed to missions and chariiies.
11 ADMINISTRATIVE INFORMATION Al Salnts18 the Church of EnglarKI Parfsh Churth in Four Oaks. in the Deanery of Aston and Sutton Coldfield and the Dioce8e of Blrmingham. Addr•s$: Al sain Church. Be11 Lane, Four Oak& Sutton Coldfield. B74 4TR Incthbent: The Reverend L8aMe effect from 16th O¢tobw 2023. Parochlal Church Council 1$ a body corpor establi$hed by the Ctlurch of Engknd, and operales under the PCC Pfftrs Moasure 1956 Church RePreSentatn Rules 2020 as amend41. It is a ¢harity registered with the Chaity Commisslon ICh•ty number 11273551. During 2tr23 th• fdlomfjng as rnembers ol PCC: The Revd Leanne Carr Mr8 Louise Rlchmond Incumbent Churcls Wardens (from 16th October 2023, Chairman) EIKtgd memLws Mr B8rM 811zzard Mr John Blumlell Mrs Salty CX Mrs Rosamul Douglas Mr Dad East Mr Rob Glbson Mr Chrtstophar Hurley Mr lan Kent Mrs Lir*a Lewis Mr Dad Phllllp$ Mrs Domthy Russell Shamn Saundern Mrs Valerfe Tlmmlns Mrs Jennifer Blundell Mts Christiie Jellay Mr Derek Umbert MTS Julia Umbert (to APCM 2023} (Tr¢asurw) (Secretsryy (from APCM 2023) (Deputywardèn) (from APCM 2023) (from APCM 2023) (Centre Secrthy) {Centre Tfeasurer) (Vice Chalr) Deanery Synod (from 26th October 20231 {dec'd 201h June 23 Approved by Ihe Parochial Church Coundl on 17. 04. 14 8nd ¥pJned on its behalf by Revd Leanne Carr. c11
12 Inde dent Examlneffs Re to the Tntstses 01 Four Oaks Parochia Church C¢)unciL ntsl Clmrch I to th• trustees on my ?x#mlnoYon ol the a¢Ints of M Sathts. Church. Four Oak8, PwodM81 Chwth CCXJNJ lorth•searended J1 DKeMber2W23 •e getOn pages 13 to25. ff Is myTrgpcmknWto: £%[nethe acunIS undor$ection 145 offv 2011 Actr. Toft41owtheptotedwA$181d dwknlhg Gonwa Dirè¢liiMs tythe CI•CoTMO {der145{5)It1>(Ithk 2011 A¢¥J:4rn1 Blsls QfJndtyMdèntEx•$ rèport My exarnination was carrfod oirt In %¢ryd¥n¢e with th¢ gewal Dlre¢trons given by th• Chartty CorrKnts8lon. An exaBunatlon ludeS of the act41# ffcoKds kapi ty ¢hzrty and • ¢¢nPBTYdOn of the provide all Ibe evlden¢o that be requlrno kn an autht •Bd wwyènty no ¢pnron is g¥en as lo I Ind¢pendl ststement aus• lob•N襕thatin arymertg1 resp•ct l) arythxttlng rer4)Tdswere rM)t keptln re¥ectofth• 8$ reqRdbY oedlon 130 01th0 2011 Ad,, or out in th$ ChthU•s (ACC1rS Reports) Re98 2008other than r•wireMl thp acc 9fv0 shId bfraavmln thls IW Inonlwtoenle • ldlT8 Lrflb8 •r£ryxth lobe fea¢h8 . 04. &24 4 Cannadc RoA¢I Y*37 IJP
13 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, FOUR OAKS. SUThON COLDFIELD STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlrted Fund5 Restrlcted Funds Endowment Funds Total Funds 2023 Totsl Funds 2022 Income & Endowments from: Donatitsns and Legacies 54.589 64.521 Ila) Actlvities for Generating Funds Ilbl Income from Church Activities Ilcl Other Income Ildl 54,589 637 1,154 1.791 3,490 92.174 82.876 92.174 20,025 20,025 39.751 Income from Inveslments 16,319 16.803 9.060 Ilel Totsl Income 183,744 1,638 185.382 199,698 Expenditure on: Churth Artivities 12a) 195,617 1,267 196.884 239,973 Raising Funds 150 {2bl Total Expenditure 195.617 1,267 196,884 240.123 Net 1ncomelExpendire 111,873} 371 111,502) 140,4251 Unrealised Gains- Properties - Shares 20.467 20,467 128,8481 Net Movement of Funds 894 3n 8,965 169,2731 Tran5fer5 1.674 11.6741 10.268 11,303) 865 Reconciliation of funds: Total funds brought forward 2,510.739 11,034 2.521,773 2,591,046 Totsl fund5 carrled forward 2,521A 9.731 2,530.738 2.521,773
PAROCHIALCHURCH couNaL OF ALLSAIKf4 FOUROAKS.siirroNcoiDFIELD BALANCE SHEET ATII DECEMBER 2023 Flxedlssetts an&ble fixedAssets InvwtsnentAssets 238P27 217560 2217,398 3rStock L402 L120 ID.661 Debtors 6323 Qsh 3t Bank & h3Nd (rnd. deposits with the Central Board ofFlnanoof C of & and Jullan Hodge Bank•s} Less liable>-Am0untsa1lingdut ithinoft NetCurrentAssets 292525 301829 17377) 110,2351 191873 304375 NetA¥s* Ftsndsof 35217 9,731 1014.9 IL034 Approved bythe Payodtsl Chur¢h Counul on: 17. tx. 24 Chair Mrs LouiseRid¥mond thur£knYden
15 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH FOUR OAKS AT 31 DECEMBER 2023 Accountln Policies Basis of preparation Thè PCC is a public benefit entty within Ihe meaning of FRS102. The financial statèments have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC'S together with the regulation's 'true and fair view provisions, logether with FRS102 (2016) as the applicable accounting standards and the 2015 version of the Ststement of Recommended Pra¢ti¢8. Accounting and reporting by Charities SORP {FRS102). The financial stalements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial stalements of church groups that OW8 their main affiliation to another body, nor those that are informal gatherings of church members. The financial stst8m8nts have been prepared under the historical cost convention except for th8 valuation of investment assets, which are shown at mark81 value, and properties which are valued at the figure used by Ecclesiastical Insurance as indicated aTrJ the professional valuation of the Curate's House. Going Concern All Saints, Church, Four Oaks, Is dependent upon th8 regular donations of its members. The balan sheet rèmains strong and a balan¢ed budget has been prepared for 2024. On this basis the PCC has presented the accounts on a going concem basis. Funds General funds repr8S8nt the funds of the PCC that are not subject to any restrictions regarding thèir use and are available for application on the general purposes of the PCC. Funds desi9naled for a partlGular purpose by the PCC are also unrestricted. Restricted funds are those funds that must be spent on rèstricted purposes and details of the funds held and restrictions are provided in Nole 5. Inc¢)me Donations & Legacles, Charltable Aetivltle8 Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when reived. Income tax recoverable on Gift Aid donations is recognised when the donation is re¢eiv8d. Grants and Legacies to the PCC are accounted for as soon as the PCC is notlfled of its legal entitlement, the amount is quantifiable and Its ultimate receipt by thé PCC is probable. Funds raised by events have been accounted for gross. Other Incomè Hiring income from letting the Church Centre is recognised when th8 hire is due.
16 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS. CHURCH FOUR OAKS AT 31 DECEMBER 2023 Accountin Policies continued Incorne from Investments Dividends are accounted for when due and payable, and interest entitlements are accounted for as they accrue. 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 year end. ndllure Donatlons Grants and donations ar8 accounted for when paid over. Activities directly relatlng to the work of the Church The dio¢esan parish share is accounted for when due, as are any other items of expenditu. Fixed Assets Propertles and movable church furnSshlng8 As previously stated. prop8rties have been valued at figures assessed by Ecclesiastical Insurance or professional valuers, although depreciation has not been charged in agreemènt with the Dioc8se. Movable church furnishings held by the vicar and churchwardens on sp6cial trust for the PCC are listed in the church inventory. which can be inspected (at any reasonable time). Individual or grouped items wilh a purchase price of £1.OCQ or18ss are written off when the asset aGquir8d. Other fixtures, flttlngs, and office equipment Individual or grouped items with a purchas8 price of £1,000 or less are written off when the asset is acquired. Investments Investments are valued at market value and revalued al the end of the year. Stocks Stocks are valued at the lower of the cost and n8t realisable value after making du8 allowance for obsolete and slow-moving stocks. Debtors Amounts owing to the PCC in respect of fees, rents or other income are shown as debtors less provision for any amounts that may prove uncollectable. These are recognised initially at settlement amount. Prepayments are valued at the arnount prepaid nel of any trade discounts due.
17 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH FOUR OAKS AT 31 DECEMBER 2023 in Policies continu Cash and cash a uivalents Cash at bank and in hand and short-term deposits comprfse cash and short-tem hlghly liquid investments held with either CBF Church of England funds and, until 20th June 2022 Julian Hodge (Bankers), when Ihls account was closed on their withdrawal from the business sector. Liabilities and rovislons Liabilities ar8 recognised when there is an obligation at the balance sheet date as a result ofa past event, it is probable that a transfer of economic b8nefit will be required in settlement, and th8 amounl of the settl8ment can be estimated reliably. Liabilities are recognised at Ihe amount Ihat the PCC anticipates it wtll pay lo settle the debt or the amount it has re¢8ived as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts reqUId to settle the obligation. Where the effect of Ihe time value of money is material, the provision is based on the pres8nt value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the disrUnt is recognised in the ststement of financial activities as a finance cost. Financial Instruments The PCC only has financial assets and financial liabiliti'es of a kind that qualify as basic financial instruments. Basi¢ financial instruments are initially recognised as transaction v81u8 and subsequently measured at their setuement value. e benefits - enslons A defined contribution scheme is operaled. The costs of post-employment benefits are recognised as a liabilty and an expense and is allocated to the relevant fund to which it relates. A¢¢ountin ostimates and ement Estimates and judgements are continually evaluated and are bas8d on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Th8 PCC carefully Consider what level of professional support should be obtained in making these estimates and judgements and the cost of this in terms of the valu8 il would bring to potentially interested parties and in carefully undertaking their duty in relation to charitable activities. The PCC makes estimates and assumptions Conrning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
18 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS FOUR OAKS SUThON COLDFIELD AT 31 DECEM&ER 2023 Notes to the accounts Unre$tyitted Funds Restrfrted Funds Endowm•tht Total Funds 2023 Total Funds 1022 INCOME AND ENDOWMENT5 FROM: la Donations and le acles Envelopes Intl. weekly payments under Gift Aid Annual, Quartedy & Monthly payments under Gift Aid Income Tax recovered Collections Iopen Platel Sundry Donations Totsl 2023 7,611 7,611 10.255 34,202 34.202 39,177 9,915 1,574 1,287 54,589 9,915 1.574 1,287 54.589 11,713 1,938 1,438 Toto12022 64.521 64.521 Ib AttSvltles for Generatln Funds Collections for Charitable Purposes Sale of Goods MagazSne Advertlsements Total 2023 1,154 1.154 137 5(K) 1.791 2,779 172 539 137 s) 637 1,154 Tottil 2022 711 1779 3.490 Ic Income from Churth Aclivltles Fees (Weddings & Funerals) Flower Guild (Fees & Donations) Social Events Magazine Sales Churth Centre: Hire of Hall Bar Sales Mlsc. Income Setvice Charge Interest Donations Government Grant Income Total 2023 1,177 285 4,079 356 1,177 285 4,079 356 662 315 2.325 585 64,451 9,127 3,408 5,446 2,103 1,742 64,451 9,127 3.408 5,446 2,103 1,742 59.165 10,620 2,251 2,800 658 828 2.667 92.174 92,174 Toto12022 82.876 82,876
19 Id Other Income Curate's House Rent VAT Recoverablè: Maintenance 18.650 18,650 14,126 875 875 8,183 Sundry Income Total 2023 500 20.025 500 20,025 17,442 roto12022 24.935 14,816 39.751 le In¢omÈfrom 1fivements Dividends and interest Total 2023 16.319 16,319 484 16,803 16,803 9,060 Toto12022 8.918 142 9,060 Total Income Z023 183.744 4638 185,382 Totollntome 2022 181.961 17.737 199,698
20 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS FOUR OAKS SUThON COLDFIELD AT 31 DECEMBER 2023 Notes to the unts co Unrestri Funds Restiirted Funds EDdowmEnt Total Funds Total Fun 2022 EXPENoilliRE ON: Church Activities missna & Charlt Gi¥ln Mlsslona C.M.S. U.S.P.G. Socletles Iso 150 150 Relièf & Dèvèlo entA ncles British Red Cr055 Af hanistan A hRe Cross Pakistan Floo Christian Aid Christian Blind Mission ce5e- Malèwi Fund Embrace The Middle East Mar .5 Me31s Practscal Artion Water Aid Worldvi5ion 150 150 561 200 200 150 250 Iso Iso 150 150 31 200 150 250 150 150 150 150 312 250 150 150 312 Home Mlsslon Children's Societ Chur hArm Church Homeless Trust Salvation Arm UR Sutton Coldfield- F od Bank hurch Societles 421 425 225 Iso 150 127 Iv Secularcharitl rns H05 ice 87 150 275 150 Asthma Relief at W rk in Sutton Coldfi Cam eTrust hildline- NSPCC Comm nit Heartbeat Trust Cruse B reavement Care Blmin ham Dementia UK Disaster EmerRenry Committee 150 150 150 175 175 150 IneA -Af hanistan A -Turke A 43 658 701 Samaritsns ave the Children Fund S.C.O.P.E. Disabillt Charit Shelter St Giles Hos West Midlands Air Amb I Sub Total 150 150 200 150 250 15 3.171 200 150 250 150 4.438 250 150 6,425 1.267 Sub Total 3.171 1,267 4.438 6,425
21 Sund Ex nditure: Carrled Fonvard Mlnlst Diocese Common Fund Clergy Travel Expenses Vicarage Expenditure Curate's House Expenditure Church Music Church Running Expenses & Maintenance linc. Or8anl Church Grounds Upkeep of Service5 Sundries Maga2ine Expenses Support Costs linc. Training & Mission) Bookslother Materials Flower Guild (Flower5 & Materlalsl H05Pltality Children'slYoun8 People ActSvities Adminlprof. Fees (Church only see Centre below) Social Events Equip/Repairs/GroiJnd5 3.171 1,267 4,438 6.425 60,000 60,000 60,000 24 456 3.624 2.510 431 6,271 2.727 431 6,271 2,727 20,184 20,184 29.306 3.690 1,004 738 524 3,690 4.110 1.298 738 524 855 370 96 357 136 353 177 1,046 136 353 177 1,046 673 2,281 2,281 4.791 2,261 2.261 1.553 30,628 Church Centre: Bar5tock'. Opening Closing Vending Machine siock: Opening Closing 5alèrieslBar Staff Wa8es Equip/Repairs/Grounds Running Ex enses Bar Expenditure AdminlProf. Fees VAT PE Annual Ad'ustrnent written off Total ofchurch Attlvl1leslMlsslory & CharityGiving 2023 1.120 11,3351 1,120 11,3351 1,000 11,1201 1671 31,557 11.826 32,546 3.904 5.846 5.226 1671 31,557 11,826 32,546 3,904 5,846 5.226 33.397 15,285 27.990 4,448 5.788 5,219 195,617 1.267 196 Totu12022 220,193 19,780 239,973
22 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS FOUR OAK5 SUThON COLDFIELO AT 31 DECEMBER 2023 Notes to the accounts continued cted Restwlcted Funds dowment Total 2021 2b Raisin Funds Sale of Goods Stewardship C05t5 Total of Raising Funds 2023 Tothl 2022 150 150 Iso TOTAL EXpENDuRE 2023 195.617 220,343 1,267 19,780 196.884 Totul Ex nditure 2022 240,123 Staff Costs Wageslsalaries Nat. Insurance Costs Pension Cosls Freelance Fees 2023 33.375 NIA 2022 35.073 NIA 682 3.145 2.510 37,183 38.265 DurinB thi5 peiiod the PCC employed 2 Centre Manzger5, Bar Steward/Staff and Cleaner. The nyrnber ol staff employed at the end of the yearwas 7, the average nymber of employees over the year was 717- 20221. No employees received employment benefits (excluding pensitrn tostsl of more than £60k. Totsl In the absence of a Director of Music, freelance organists were used. The PCC member5 are the key rnanaBernent personnel and no remuneration is received by them. Insurance includes Trustee and church council indemnity cover and there is no separate premiurn for thi5. No claims have been made under this pollcv. FSxed Assets for use b the PCC Knl8htsbrfd8e Close, Four Oaks, su Coldfield tMI Saint5. Churth Centre. Belwell Lane. FourO3k% Sutton Coldfiekl All Saints. Ctsmmunity Tangible Flxed set5 Salnts Dre. Four Oaks, Sutton COldfld Totsl ouse) Book Value at 31.12.2022 Book Value at 31.12.2023 249,950 1,074,493 249,950 1,074,493 lil Curate's House wa5 purchased in 2LX19 and the open market valuation was completed by DJ.Abbott FRICS of Hollier Browne, 3 March 2009. Bulldings currently insured for £418,218. Please see comment under item liiil re8ardin8 revaluation of property. 675,395 675,395 1,999,838 1,999,838 lill The insurance valuation of the Church Centre Building has been utillsed forthls purpose. However It 5hovld be noted that the propety, whlch was constucted adjatent to the Church in 1973 a5 a C05t of £41k, is built on benefice land. The valuation was updated by Ecclesiastical Insurance under their review In 2017 at £1.143.078. although we are advised that reduction of 6%1£68.5851 needs to be applied to take account of demolitionl51te tlearante costs included in their origlnal figure and this asped is rèflected In the value.
23 liiil The Community Bulldlngs, whSch are built on benefice land, were acquired by the Parish during 2006 as part of a development scherne and they are currently mainly used by the Gulde and Scout orgznisations, although they are let out for otheT purposes. Again the insurance valu4tion has been utilised, which wa5 updated by Ecclesiastical Insuranee in 2017 at £718,505 and the 6% reduction1£43.1101 has been applied as mentioned in the prevlous para8raph. It is acknowledged that the valuatlOn5 included under Ibil and liiil may not represent the current market values. Properties under lill and liiil will be revalued when Ecclesiastical Insurance undertake a further review in 2024, this having now bèen delayed by the insurance company following the knotk on effect of the pandemi (4bl Investments In the CeAtral Board of Flnance Investment Fund 1.368 shares (Original Cost £2,987) 2023 2022 {parketvalue a$ 31 DÈtemberl 30,924 28,265 1.165.66 shares Iorlginal Cost £2,1151 Registered In the name of the Curate's House Fund 26,350 24,084 3,832.30 shares (Original Cost £SO,0001 RegiSted in the name of Part Sale Proceeds of Old Vicarage. Purchased November 2014 4.049.75 Shares IOri8inal cost £55,000) Re8iStered In the name of Part Sale Proceeds ol Old Vicarage No.. 2 Account. Purchased December 2015 114.02 shares Ioriglnal Cost £2,492) RÈ8lStered in the name of Luncheon Club. Purchased April 2022 86.630 79,181 91,546 83,674 2,577 2.356 238,027 217,560 Market value at b•8inning of yèar Shares purch05ed during year 217.560 243,916 2.492 217.560 20,467 238.027 246.408 128,8481 217,56Q Un-realised gainl10s51-l on investment assets Market Value at end of year Unrestricted Fund5 Ilestric¢ed Fund Endowment Fund$ To l Funds 2023 Total Funds 2022 Anal Isof Net Assets b Fund A55els'. Properties Investment5 Current set5 Ilnc. Debt0. Stock, BanklCBF Accountsljulian Hod8e and Cash in hafidl Current Liabilities Fund Balances 1,999,838 238,027 ,237.865 1.999.838 238,027 2.237.865 1,999,838 217,560 2.217,398 300,250 290,519 9.731 314.610 17,2771 2.521,007 17,3771 2,530.738 110,2351 2.521.773 9,731 Analysls of restritled funds Missions & chariti fund Organ fund CD Srnalle Le At 1.1.2023 Income Expendltu 1,267 1,541 133 At 31.12.23 113 3.670 7.251 11,034 L154 156 328 1,638 2.285 7.446 9,731 fund 2,941 Debtor5 Goods & Servites Pre ments & Atcrued Income Other Debtors 560 5.763 560 5,763 406 10,255 6,323 6.323 10.661
24 PAROCHIAL CHURCH COUNCIL OF ALL SAINTS FOUR OAKS SLirroN COIDFIELD AT 31 DECEMBER 2023 Notes to the accounts continued Unrestrlcted Restrlcted Endowment Totsl Funds 202 Total Fuhds Cash at Bank & Other De slts Current Account Saving5 Account Cash Float Re.. Curate's House held bv Agents Church Centre.. Bank Actounts Dep051ts wlth the Centr41 Board of Flnance of C of Church Centre Reserve Funds 35,062 10.386 8,143 25,186 729 6.694 1.645 6.694 1,645 12.659 11,541 iio iio 2(Kl 7.938 7.938 9.055 35,062 10.386 8.143 25,186 729 37,995 10,552 7.786 26.869 Community Building Reserve Fund Fabric Fund Curate's House Fund FlowerGulld Organ Fund Ifor expenditure relatin8 to the organ) l.M.Thompson Legacy Part Sèle Proceeds of Old Mcarage C.D.Smalley le8a¢y Ifor vestments) Miss M. Brancker Legacv Mrs C. A. Elson Legacy Mrs D. Blake Le8acv Dr B.M. Chèpman Legacv Luncheon Club 2,285 2,285 3,670 C105ed 133.400 133,400 7.446 47,940 1,106 1.090 3,256 109 122,783 7,251 45,836 1,057 1,042 3,114 35 7,446 47,940 1,106 i.J90 3,256 109 282.794 9,731 292.525 302A29 Llabllltlès: Amounts fallln due with4n one ar Accruals and Deferred Income 2.306 2,306 4,594 3.728 4,948 400 Goods & Services 4,594 303 Taxation and social security Ixher Creditors 174 174 1,159 10,235 7,377 7.377 Cornmrtrnents Operating lease comrnitments relating to a photocopSer a.. Due within one year 543 Due in 3-5 years (finishes 5120251 Total 543 543 816 816 1,359 1.902 1,359 1,359
25 io Mlsslons & Charltle5 Followin8 completion of the accounts the PCC agreed that £2.250 be made available for distribution to Missions and Charities. Allo¢atlon ol these fund5 will be made dudng the early part of 2024. li Related Pa TraThsattions The Church Centre paid Professional fees totallin8 £3,145 to Mrs V.M. Wardell Idau8hter of a PCC rnemberl for bookkeepin8 and consultancy work. 12 Allocatlon of 2023 mini ratlon Costs 022fi re5 In CharitablèActlvltles Raisin Funds Cost How Allocated Church Centre statione Administration £2,894 1£2,8461 £1.767 £1.127 1£2,6961 £0 1£15Ql Normal Usage Tele hon rnet £6 £684 (£2561 1£5581 £6 (£2561 £558 Normal Usage Vicara8e Norlnal U54 e Cent £684 Bank Cha es £648 1£9201 £133 £515 (£9201 Nom)al Usage Professional F Bookkeeping & Consultancy work for Church Centre £3,145 1£2.9901 £3,145 1£2,9901 1£2,4091 1£2,4091 Architect epen ent Examination of 2022 & 2023 attounts £750 (£7501 £375 £375 (£7501 £8.127 1£10.7291 £2,281 £5.846 1£10.5791 £0 (£150 Split between Churth and Centre a5 follow5.. Church £2.281 £5,846 £8,127 1£4,9411 1£5.7881 1£10.7291 Centre Total