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2022-12-31-accounts

Fxofficio members ofthe Fxofficio members ofthe PCC
Licensed clergy Rev'd Roderick Corke (Vicar) (Chairman)
Rev'd Jonny Gordon (Curate) (resigned December 2022)
Deanery Synod Members
(Elected October 2020, Mr Semer La Fontaine
retiring July 2023) Mr Derek Valentine
Mr Richard Weatherill
(Elected October 2020, Mr Nick Jackson
resigned April 2022)
(Elected April 2022, Mrs Rachel Huntley
retiring July 2023)
(Elected May 2022, Mrs Gillian
Maxim
retiring July 2023)
Churchwardens Mr Neill Paulley
Dr David Guy
(Elected April 2019, retiring Mr Nick Logan Mr Nick Logan
April 2022) Mrs Glenda Pocock
Dr Alistair Sawers
Mr Jeremy Wray
(Elected October 2020, Dr Thrisha John (Treasurer)
retiring May 2023) Mrs Helen Wall (Vice-Chairman)
Mr Timothy Wolff
(Elected October 2020, Mrs Gillian Maxim
resigned
May 2022)
(Elected May 2021, retiring Mrs Judith Butler
April 2024) Mr Robert Sykes
(Elected May 2021, resigned Mrs Rachel Huntley
Apnl 2022)
(Elected April 2022, retiring Mr James Hall
April 2025)
(Co-opted Apnl 2022, retinng Dr Alistair Sawers (Secretary)
May 2023) Mr Jeremy Wray

Principal Officers Officers Rev'd Roderick Corke (Chairman Rev'd Roderick Corke (Chairman ofthe PCC)
Mrs Helen Wall (Vice-Chairman of the PCC)
Mr Neil Paulley (Churchwarden)
Dr David Guy (Churchwarden)
Dr Thrisha John (Treasurer to the PCC)
DrAlistair Sawers (Secretary to the PCC)
Charity number 1128064
Principal address The Parish Office
Church House
Church Street
Malvern
WR14 2AY
Auditor Kendall Wadley LLP
Granta Lodge
71 Graham
Road
Malvern
Worcestershire
WR142JS
Bankers Lloyds Bank Pic
48 Belle Vue Terrace
Malvern
Worcestershire
WR14 4QG
HSBC Bank pic
1 Church Street
Malvern
Worcestershire
WR14 2AB
CAF Bank Ltd
25 Kings
Hill Avenue
West Mailing
Kent
ME194JQ
Investment advisors CCLA Investment
Management		 Limited
85 Queen Victoria Street
London
EC4V4ET

Page
Trustees'
report		 1-10
Statement ofTrustees' responsibilities
Independent
auditor's		 report 12-14
Statement offinancial activities 15-16
Balance sheet
Statement ofcash flows 18
Notes to the financial statements 19-38

Current financial year Current financial year
Unrestricted Unrestricted Restricted Endowment Total Total
funds funds funds funds
general designated
2022 2022 2022 2022 2022 2021
Notes f. f.
~ln
irl~fom:
Voluntary
income		 3 260,932 75,670 336,602 273,479
Incoming resources
from charitable
activities		 4 77,656 1,984 97,799 177,439 93,023
Activities for generating
funds 8 6,045 6,045 5,661
Investments 6 11,303 1,172 12,475 4,108
Total income 355,936 1,984 174,641 532,561 376,2?1
Ex enditure on:
Raising funds 3,765 3,765 3,748
Charitable
activities		 333,799 58,225 157,120 549,144 361,204
Total resources
expended 337,564 58,225 157,120 552,909 364,952
Net gains/{losses) on
investments 13 (28,954) (246) (11,835) (41,035) 19,820
Net
(outgoing)/incoming
resources before		 (10,582) (56,241) 17,275 (11,835) (61,383) 31,139
transfers
Gross transfers
between
funds 14 (8,275) (18,992) 27,267
Net movement
in		 funds (18,857) (75,233) 44,542 {11,835) {',61,383) 31,139
Fund balances at 1
January 2022 120,000 390,294 106,135 103,892 720,321 689,182
Fund balances at 31
December 2022 101,143 315,061 150,677 92,057 658,938 720,321

Prior financial year Prior financial year
Unrestricted Unrestricted Restricted Endowment Total
funds funds funds funds
general designated
2021 2021 2021 2021 2021
Notes
Income from
Voluntary
Income		 267,836 5,643 273,479
Incoming resources from
charitable
activities		 35,291 186 57,546 93,023
Activities for generating funds 5,661 5,661
Investments 3,481 627 4,108
Total income 312,269 5,829 58,173 376,271
Ex enditure
n
Raising funds 3,748 3,748
Charitable
activities		 338,693 11,800 10,711 361,204
Total resources expended 342,441 11,800 10,711 364,952
Net gains/(losses) on investments 13 7,241 (3) 12,582 19,820
Net (outgoing)/incoming
resources before transfers (22,931) (5,971) 47,459 12,582 31,139
Gross transfers
between		 funds 22,930 (18,770) (4,160)
Net movement
in		 funds (1) (24,741) 43,299 12,582 31,139
Fund balances at 1 January 2021 120,001 415,035 62,836 91,310 689,182
Fund balances at 31 December
2021 120,000 390,294 106,135 103,892 720,321

2022
Notes
Fixed assets
Investments 474,130 315,164
Current assets
Debtors 17 58,356 21,890
Investments 18 144,612 344,612
Cash at bank and in hand 76,192 68,282
279,160 434,784
Creditors: amounts falling due within 19
one year (94,352) (29,627)
Net current assets 184,808 405,157
Total assets less current liabilities 658,938 720,321
Capital funds
Endowment funds 21 92,057 103,892
income funds
Restricted funds 22 150,677 106,135
Unrestricted funds
Designated funds 23 315,061 390,294
General unrestricted funds 101,143 120,000
«6,204 510,294
658,938 720,321

2022 2021
Notes E E
Cash flows from operating activities
Cash (absorbed by)/generated
from		 27
operations (4,565) 27,023
Investing activities
Interest received 12,475 4,108
Net cash generated
from		 investing
activities 12,475 4,108
Net cash used in financing activities
Net increase In cash and cash equivalents 7,910 31,131
Cash and cash equivalents at beginning of year 68,282 37,151
Cash and cash equivalents at end of year 76,192 68,282

Various Collecting Collecting Other Facility Total Total
projects box donations fees 2022 2021
f. f. F. F.
Charitable rental income 5,832 5,832 5,008
Other income 97,799 25,848 38,777 9,183 171,607 88,015
97,799 25,848 38,777 15,015 177,439 93,023
Analysis
by fund
Unrestricted funds-
general 25,848 36,793 15,015 77,656
Unrestricted funds-
designated 1,984 1,984
Restricted funds 97,799 97,799
97,799 25,848 38,777 15,015 177,439
For the year ended 31 December 2021
Unrestricted funds-
general 17,615 12,668 5,008 35,291
Unrestricted funds-
designated 186 186
Restricted funds 57,546 57,546
57,546 17,615 12,854 5,008 93,023
A detailed listing ofrestricted income is given in note 22.
2022 2021
Various
Offerings 247
Other donations 808
Weddings and funerals 3,915 5,917
Church
house		 renovating
and repurposing 38
Messy Church 61 33
Lifepath 2,686 (56)
Other fund raising 3,337
Furtherance of bellringing 1,330 925
Floor project 15,585 49,353
Vicars Discretionary 1,100
StAnne's Roof 63,580
Audio Visual 6,250
97,799 57,546

Unrestricted Unrestricted
funds funds
general general
2D22 2021
Malvern Priory Magazine 6,045 5,661

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2022 2022 2022 2021 2021 2021
Income from listed
investments 10,415 873 11,288 3,012 577 3,589
interest receivable 888 299 1,187 469 50 519
11,303 1,172 12,475 3,481 627 4,108

2022 2021
~Tra in cc is
Magazine - direct costs 3,765 3,748
3,765 3,748

Charitable Costs of Total Total
objectives ministry 2022 2021
f.
Staff costs 109,067 109,067 101,704
Various projects (breakdown on next page) 204,934 204,934 21,070
Ministry - diocesan parish share 72,331 72,331 128,100
Clergy costs 1,463 1,463 891
Church
running
expenses		 53,695 53,695 37,332
Church
maintenance		 20,056 20,056 19,009
Cost ofservices 4,800 4,800 4,771
Miscellaneous
(including		 room hire) 7,200 7,200 4,913
Youth and Children's work 230 230 26
Promotion
and Outreach		 992 992 1,766
Ministry support
fund		 25,000 25,000
Alter supplies
and flowers		 1,290 1,290 990
Other costs 1,278 1,278 463
204,934 297,402 502,336 321,035
Grant funding
ofactivities		 (see note 9) 19,020 19,020 19,000
Support costs (see note 10) 23,208 23,208 13,946
Governance
costs (see note		 10) 4,580 4,580 7,223
204,934 344,210 549,144 361,204
Analysis
by fund
Unrestricted
funds -		 general 333,799 333,799
Unrestricted
funds -		 designated 51,625 6,600 .58,225
Restricted
funds		 153,309 3,811 157,120
204,934 344,210 549,144
Forthe year ended 31 December 2021
Unrestricted
funds -		 general 45 338,648 338,693
Unrestricted
funds -		 designated 11,080 720 11,800
Restricted
funds		 9,945 766 10,711
21,070 340,134 361,204

Various projects
2022 2021
f.
Offerings
gifted		 3,422
Christmas
outreach		 and welcome days 102
Church house renovation and re-purposing costs 411 146
Church restoration costs 5,566 3,813
Other costs 1,644 1,296
Weddings
and funerals		 2,395 1,216
Porch room development, cushion replacement and
piano repairs 543
Messy Church 391 120
Lifepath 3,153 161
Furtherance
of bellringing		 1,330 925
Priory plan 50,025 7,765
Floor Project 7„606 1,725
Creation
Window		 3,360
St Anne's Roof 92,470
Audio Visual 30,088
198„602 21,070
Grants payable
2022 2021
f. f.
Grants to institutions:
CMS 2,000 1,355
Crosslinks 2,000 1,355
CPAS 1,285 1,195
Tearfund 1,285 1,355
Bible Society 1,285 1,355
Christians
Against		 Poverty 2,000 2,000
Other grants
&f.1,000		 526 25
Lifewords 500 1,355
Care for the Family 1,285 1,195
Scripture
Union		 1,285 1,195
Care Trust 500 1,195
Open Doors 1,285 1,355
Friends ofMarsabit 2,000 1,355
Mission Aviation Fellowship 1,285 1,520
Mosaic Middle East 500 1,520
Other (330)
19,020 19,000

Support c osts
Support Governance 2022 2021 Basis ofallocation
costs costs
f.
Staff costs 1,625 1,625 3,970 Time spent
Office costs 15,625 15,625 9,386 Charitable activities
Subscription s 5,370 5,370 3102 n n
Postage and stationery 2,213 2,213 1 458
Audit fees 2,500 2,500 2,700 Governance
Accountancy 455 455 553 Governance
23,208 4,580 27,788 21,169
Analysed between
Charitable activities 23,208 4,580 27,788 21,169

12 Employees (Continued)
Employment
costs		 2022 2021
Wages and salaries 99,601 94,921
Social security costs 2,420 2,582
Other pension costs 8,671 8,171
110,692 105,674

Net gainsl([ oases} on investmen ts
Unrestricted Restricted Endowment Total Total
funds funds funds 2022 2021
f.
Revaluation ofinvestments (28,954) (246) (11,835) (41,035) 19,820
Forthe year
ended 31
December 2021 7,241 {3) 12,582 19,820

16 Fixed asset investments Fixed asset investments
Listed Cash in Charities Total
investments portfolio Funds
R F.
Cost or valuation
At 1 January 2022 198 55,792 259,174 315,164
Additions 200,000 200,000
Valuation
changes		 (41,034) (41,034)
At 31 December 2022 198 55,792 418,140 474,130
Carrying
amount
At 31 December 2022 198 55,792 418,140 474,130
At 31 December 2021 55,792 259,174 315,164
16 Financial instruments 2021
Carrying
amount offinancial assets
Instruments
measured		 at fair value through profit or loss 418,338 259,372
17 Debtors
2022 2021
Amounts
falling due		 within one year: f.
VAT recoverable 10,547
Gift Aid 4,593 16,461
Other debtors 43,216 5,429
58,356 21,890
18 Current asset investments
2022 2021
f. F.
Cash deposits 144,612 344,612

19 Creditors: amounts Creditors: amounts falling due within one year
2022 2021
f.
Other taxation and social security 1,823 1,666
Accruals and deferred income 92,529 27,961
94,352 29,627

Balance at Investments Balance at Investments Balance at
1 January gains/(losses) 1 January galnsl(losses) 31 December
2021 2022 2022
E f.
Permanent
endowments
Fabric Barlow 3,358 3,358 3,358
B.Woodyatt bequest 1179 7,334 1,050 8,384 (987) 7,397
B.Woodyatt bequest 1181 14,648 2,096 16,744 (1,971) 14,773
R,P. Pelly 1190 4,876 697 5,573 (656) 4,917
H.VV. Williams fund 1366 61,094 8,739 69,833 (8,221) 61,612
91,310 12,582 103,892 (11,835) 92,057
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27 Cash generated
from		 operations operations 2022 2021
(Deficit)/surpus
for the		 year (61,383) 31,139
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (12,475) (4,108)
Fair value gains and losses on investments 41,035 (19,820)
Movements
in working		 capital:
(Increase)
in debtors		 (36,466) (451)
Increase
in creditors		 64,724 20,264
Cash (absorbed
by)/generated		 from operations (4,565) 27,024
28 Analysis ofchanges in net debt
The P.C.C. had no debt during the year.