2024-12-31-accounts

allsaints worcester

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER

Charity Registration No. 1128121

ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2024

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Contents

Paragraph		Page
	Trustees Annual Report	4-13
1	Administrative information	4
2	Structure, governance and management	6
3	Objectives and activities	7
4	Achievements and performance	8
5	Plans for the future	9
6	Financial review	9
6.1	Financial standing- Headlines	9
6.2	Reserves policy	10
6.3	Risk management	11
6.4	Safeguarding	12
6.5	Fundraising policy	12
6.6	Statement of Trustees' responsibilities	13
7	Independent Auditor’s report	14-16
8	Annual Statement of Accounts	17-23
8.1	Statement of Financial Activities (SOFA)	17
8.2	Statement of Financial Activities (SOFA) - Funds	18
8.3	Balance Sheet	19-20
8.4	Statement of Cashflow	21
8.5	Statement of Assets and Liabilities	22
Note	Notes to the Financial Statements and Accounts	Page
Note 1	Accounting Policies	23-29
Note 2	Analysis of Income	30
Note 3	Analysis of Expenditure	31-32
Note 4	Analysis of Income – Worcester Foodbank	33
Note 5	Analysis of Expenditure – Worcester Foodbank	33-34
Note 6	Transfers	35
Note 7	Fixed Assets	36
Note 8	Investments	36
Note 9	Debtors	37
Note 10	Creditors	37
Note 11	Funds & Fund movements	38-39
Note 12	Stock	40
Note 13	Grantspayable	40
Note 14	Employees & Staff costs	41
Note 15	Financial commitments – Lease Agreements	41
Note 16	Payments to Trustees	42
Note 17	Related PartyTransactions	42
Note 18	Gifts in Kind & Donated Stock	43

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 19	Taxation	43
Note 20	Government Grants	43
Note 21	Comparative SOFA	44
Note 22	Restated Prior Year Accounts 2023 and adjustments	45-47

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

TRUSTEES’ REPORT

The Trustees present their report and accounts for the year ended 31 December 2024.

1. Administrative Information

1. Administrative Information
Registered Charity Number	1128121
Principal Address	St Helen’s Church House
	Fish Street
	Worcester
	WR1 2HN
Contact Details	01905 734625
	[e-mail]
Bankers	Lloyds Bank
	4, The Cross
	Worcester
	WR1 3PY
	CCLA
	Senator House
	85, Queen Victoria Street
	London
	EC4V 4ET
	M&G Investments
	The M&G Group
	10, Fenchurch Avenue
	London
	EC3M 5AG
Auditors	Richards Sandy Audit Services Limited
	Thorneloe House
	25 Barbourne Road
	Worcester
	WR1 1RU
Inspecting Architects	Nick Joyce Architects Ltd
	5 Barbourne Rd
	Worcester
	WR1 1RS
Solicitors1	SME Solicitors
	8 Sansome Walk
	Worcester
	WR1 1LW

1 Solicitors appointed in relation to Worcester Foodbank property lease

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

The Parochial Church Council of the Ecclesiastical Parish of St. Nicholas & All Saints Worcester (also known as All Saints Worcester including the governance, operations and activities of Worcester Foodbank) is a registered charity (Number 1128121).

The charity is unincorporated and was registered on 18th February 2009 with the Charity Commission in England and Wales. The charity is a public benefit organisation.

The Parish of St. Nicholas & All Saints Worcester is part of the Worcester Deanery within the Diocese of Worcester, part of the Church of England. The Parochial Church Council (PCC) also has responsibility for a chapel-of-ease, St Helen's, Fish Street, Worcester.

The PCC Members who served as Trustees from 1[st] January 2024 until the date this report was approved are: Ex Officio members

Ex Officio members
Licensed clergy	Rev’d Dr Rich Johnson	Vicar (PCC Chair)
	Rev’d James Ellin	Associate Vicar
	Rev’d Jess Fellows	Associate Vicar Students and 20’s
	Rev’d Jamie Klair	Curate
	Rev’d Fraser Oates	Curate (until 15/07/24)
	Rev’d Tim O’Leary	Curate (from 15/07/24)
Elected members
	Mr Philip Bristow	Church Warden (PCC co-Vice Chair)
	Mrs Jenny Prigg	Church Warden (PCC co-Vice Chair)
	Mr Grahame Lucas	Treasurer until 22/04/242
	Mr Stephen Chase	Treasurer from 17/06/24
	Mr Andrew Jackman
	Mr Mike Croft
	Mrs Gill Lucas
	Mr Clive Langmead
	Mrs Carol Rogerson
	Mr Rob Coleman	(until 19/02/24)
	Mrs Sandra Bannister	(until 22/04/24)
	Mr David Green	(until 22/04/24)
	Ms Claudia Catterall	(from 22/04/24)
	Mr Richard Auger	(from 22/04/24)
	Mrs Amy Williams	(from 22/04/24)
Co-opted	Ms Bethan Angell	(from 20/05/24
Key roles (including trustees with additional responsibilities) are as follows:
Deanery Synod Representatives
	Mrs Gill Lucas
	Ms Claudia Catterall	(from 22/04/24)
Secretary to the PCC & Electoral Roll Officer
	Mrs Philippa Barton	(until 20/05/24 -not an elected PCC member)
	Mrs Amy Williams	(from 20/05/24)
Standing Committee	Vicar, Associate Vicar,	Church Wardens, Stephen Chase & Mike Croft
Other notable appointments (delegated responsibility reporting to Trustees)
	Carol Rogerson	(PCC H&S Officer - appointed 20/05/24)
	Claudia Catterall	(Data Protection Officer – appointed 20/05/24)
	Ann Statham	(Gift Aid Officer – volunteer, not a PCC member)
	Sue Price	(Parish Safeguarding Officer – volunteer, not a PCC member)
	Mr. Mark Carrington	(Church Operations Manager – staff, not a PCC member)
	Mr Grahame Lucas	(Foodbank Manager - volunteer)

2 Church Wardens covered Treasurer duties for the period 22/04/2024 to 17/06/2024.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

2. Structure, governance and management

The PCC is a corporate body established by the Church of England. It operates under two Approved Governing Documents: The Parochial Church Council (Powers) Measure 1956, as amended, and the Church Representation Rules 2022.

PCC members are appointed in accordance with the Church Representation Rules and act as Trustees to the charity. The Trustees who served during the year are as described in the administrative information section of these financial statements.

The members of the PCC are elected for a three-year term of office. Approximately one third of PCC places are elected each year with elections being held at the Annual Parochial Church Meeting (APCM). Licensed Clergy are ex-officio members of the PCC.

All committed members of the congregation are encouraged to register on the Electoral Roll and consider standing for election to the PCC. The Electoral Roll had a total of 185 at the APCM on 22[nd] April 2024, (compared with 187 at the preceding APCM in 2023).

The PCC is responsible for working with the Clergy in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC also has responsibility for the maintenance and running of two church buildings: All Saints and St. Helen’s, plus Church House a small office adjacent to St Helen’s.

The PCC is responsible for the charity finances, policy & governance including employment of staff, health and safety, disability discrimination and safeguarding and child protection, & GDPR (data protection). Staff pay is benchmarked in the context of comparative faith based charity roles and salaries are reviewed annually in June by the PCC, taking into consideration inflation and the general financial position of funds available to the charity.

New Trustees have induction and training based on current Church of England PCC guidance materials and Charity Commission guidance for new Trustees. The PCC has nominated people for the Diocesan safeguarding training. Extended and further training for PCC members is available via the Diocese and online resources.

The PCC receives advice and information from its representatives on other external bodies: Worcester Deanery Synod, Worcester Diocesan Synod. The PCC also has access to advice and information from the Diocese of Worcester staff teams.

The PCC has responsibility for a number of small trusts that have been associated with the All Saints area of the city including the historic churches of St. Andrews and St. Nicholas’.

The full PCC normally meets ten times per year with an average attendance of 82% (2023 – 89%), supplemented if required, by extra meetings to address specific matters. To ensure effective governance throughout the year, the PCC delegates some business to other groups:

The Standing Committee (SC) : comprising Church Wardens, Treasurer, stipendiary clergy (Vicar & Associate Vicar), and two PCC members (nominated by the PCC). It is responsible for day-to-day business decisions on behalf of the PCC, or any decisions that are required urgently but have been agreed in principle by the PCC, who have duly authorized the Standing Committee to make a final decision. The Standing Committee normally meets between full PCC meetings. Members are subject to re-election/nomination each year, with the exception of the clergy members.

The Vicar and two Associate Vicars are the key management personnel for the charity and direct the teams that deliver day to day activities.

The Church team is led by the Vicar (Lead) and Associate Vicars. The church team are delegated to make operational decisions which do not have significant implications on governance or policy. The team of clergy, staff & volunteers deliver day to day activities of the charity on behalf of the Trustees.

The Worcester Foodbank team is led by a core group consisting of the Foodbank Manager (Lead) and Duty Managers and Foodbank Operations Coordinator. The Foodbank team are delegated to make operational decisions which do not have significant implications on governance or policy. The team of staff, volunteers and partners, deliver day to day Foodbank activities of the charity on behalf of the Trustees.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

During 2024, the PCC also initiated four oversight groups to focus on specific aspects of governance oversight of activities and cover work to prepare, plan and present proposals for consideration & approval by the full PCC. The oversight groups have no delegated authority. All PCC members contribute on an oversight group (apart from the Vicar and Church Wardens, who move between groups and help to align priorities). The groups are to enable the PCC to spend time on policy, direction & decisions, rather than on day-to-day issues. The respective areas of work covered are Mission, Finance, Governance, & Buildings.

All Saints Society of Bell Ringers : comprising representatives from the bell ringing team, is responsible for running the All Saints church bell tower. Bell Ringers funds are held as restricted funds in named bank accounts, see Notes 1c & 1d.

3. Objectives and activities

Purpose : The objectives of the PCC are as set out in the Church of England Measures detailed above.

The PCC has the responsibility of co-operating with the Vicar, Reverend Dr Rich Johnson in promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. and is responsible for supporting the Parish Clergy and staff, in the organisation of church services and other events, as well as the provision of pastoral care for the congregation and the parish in general. The PCC is also responsible for the maintenance of All Saints Worcester and St Helen’s Worcester.

Our vision document, the “Vision for All Saints”, sets out our Mission, Vision, Strategy and Values. Our mission is to be a missional community that gives creative and faithful expression to the Kingdom of God in Worcester and beyond. Our vision is to be a growing community of Kingdom people, formed of multiple smaller communities, in and through which our lives and our city are radically transformed by God’s love, grace and power. Our strategy identifies five strategic priorities as crucial for us if we are to see this vision become a reality. These are focused around creating a discipleship culture, nurturing a caring community, developing a leadership community, expanding our missional impact through our own initiatives, support of mission partners and collaboration with other churches, and exploring multiple expressions of church. We have identified ten values that shape and inform how we approach being church together.

Building fabric – maintenance and life-cycle repair works continue on our two buildings All Saints and St Helen’s to address items raised as priorities on quinquennial reports. Following major works completed in 2023 in St Helens, during 2024, the buildings group have commenced a review of electrical systems & lighting requirements at All Saints, work to agree the scope, timescales and funding sources will continue through 2025, along with consideration of other mid-term priorities for our buildings.

Expanding Church community in 2024

The PCC is committed to enabling vibrant growth and increasing public benefit through worship within the church buildings and through actions and activities in the community and beyond. The PCC is excited about the relational network developed through our continuing mission initiatives as a resourcing church with St Peter’s Bengeworth, Evesham and St Stephens, Redditch, along with other relational partnerships in Inkberrow, Kempsey and elsewhere in the Diocese.

In recognition of its wider responsibilities in promoting the whole mission of the Church, the PCC makes grants to national and international mission and charitable organisations. The grant making policy established by the PCC certifies and makes grants to those organisations demonstrating similar objectives and outreach to All Saints Worcester. Grants allocated during the year are shown within the accounts and are listed in Note 13 .

The Trustees also give thanks for the amazing generosity of the people of Worcester, in supporting Worcester Foodbank so that we can continue to help those who turn to us in crisis, suffering food poverty, and unable to properly feed their families and children. This work is a major part of our commitment to the community of Worcester, and we continue to serve these growing needs and expand our activities with significant contribution and involvement from many others in the city.

The PCC would like to recognise and thank all the volunteers who work tirelessly to make All Saints, St Helen’s & Worcester Foodbank a welcoming, worshiping and outward looking community. Most of the charity’s activities rely

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

heavily on the contribution of volunteers, many of these volunteers go unseen and unrecognised, the Trustees are pleased to record heartfelt thanks for their commitment, energies and time.

The Trustees in co-operation with the Vicar, have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the PCC and charity should undertake.

4. Achievements and performance

The last ministry year has been a significant and challenging one for All Saints Worcester. There has been much to celebrate. Throughout this time there has been steady growth in congregation numbers (notably among teenagers, students and 20s) continuing fresh innovation (particularly around the creative arts, a children’s holiday club and youth mission through our “Lightbox” community youth project) and ongoing commitment to caring for the needs of the most vulnerable in our city (primarily through our Worcester Foodbank project).

We continue to face the economic challenges that prevail in the communities that we serve. There remains a need to increase our regular giving and to develop alternative income streams. This is in part due to the reduction in SDF funding which tapers to an end in December 2025 and ongoing ambition to scale our activity.

Reaching the wider Community around our Church Community in 2024

All Saints Worcester & Worcester Foodbanks’ presence in the centre of Worcester has made a real and tangible difference to the lives of those in our local area. We have seen growth and change throughout 2024, some of the charities activities and their impact are summarised as follows:

• Regular Public Worship (including Prayer, Worship & Teaching) and other gatherings, average weekly. Attendance of 240, and a reach of over 585 across the wider gatherings & various groups.

• Pastoral Care continues as a prime commitment to the wellbeing of all those who engage with All Saints and Foodbank and whilst this work is often rightly unseen and in confidence, the lasting and enduring impact on individual lives is a notable contribution within Worcester and beyond.

• Life groups and mid-week gatherings of over 175 regular participants.

• Children’s Church continues to thrive with numbers in the range of 35 to 60.

• Youth work, within the church community regularly have numbers of 60+ young people.

• Lightbox – a community youth initiative working in partnership with others has regular connection into local schools and also holds community youth events for youth in the city, the “One Community Youth Day” hosted over 500 young people in the summer and other pop-up events “the base” in Cathedral Square and others between 100 to 200.

• Students and 20’s, ongoing engagement with over 35 students.

• Mission partner support for 14, local, national and international mission partners (see Note 13 )

• Various other regular groups and activities which engage the church within the community such as: Art Space, Alpha, Mainly Music, Revive and Men together.

• Our church activities involve over 144 volunteers.

• Church growth and resourcing, revitalisation partnerships with St Peter’s, Bengeworth, a new work with St Stephen’s, Redditch and ministry support to Inkberrow and other relational partners in the Diocese.

In 2024 we saw 55 people join in a personal journey of exploring Christian faith through Alpha & other connections. These were people who did not normally attend church and heard the good news either through personal exploration of faith or by connection through our outreach activities. We also celebrated 8 baptisms in 2024. We hope to continue this growth and impact into 2025.

Worcester Foodbank continues to be a major part of our ongoing commitment to caring for the needs of some of the most vulnerable in our city. In 2024, this expression of love & care for the people of Worcester and beyond continued to grow in impact and scope. As Trustees the PCC oversees funds which are “restricted” for Foodbank, and we thank God for His favour and provision – it is truly amazing to see the practical compassion from across the wider church & community, local businesses and many individuals who generously give their time, money and resources. During 2024, demand has continued to rise (a further 10% in the year).

Foodbank has fed about 18,500 people in the last twelve months with over 231,250 meals, 40% of those being fed are children. Demand now stands at about 2.5 times the level in 2019. The team includes over 90 volunteers.

A full ministry review is published in a separate document for the APCM each year.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

5. Plans for the future

The All Saints objectives, plans and activities, summarized above, continue into 2025 and provide the foundation on which the charity will build upon for the future. In the Autumn of 2024, with the lead of the Vicar, the PCC has commenced a review of the Vision for All Saints looking forward, this work will continue into 2025, with initial framing and communication anticipated for the APCM in 2025 with realignment of activities and implementation expected to transition through the Autumn term 2025 and beyond.

Plans for 2025, include the commitment to continue our current activities and grow their scale and impact where opportunity and demand allows. In addition, the Church leadership and Trustees are considering the following areas of development and additional activities.

• Continued Resourcing Church activities: the initial grant funding which assisted in the developing of projects over the last 5 years ends in December 2025. We believe we have more to offer into the work of the broader church and are exploring how best we can continue to serve and contribute, in partnership with the wider Diocese transformation context for church growth, renewal and revitalisation. During 2025, we will be working in collaboration with the Diocese to contribute to a 10-year transformation plan.

• Foodbank plans to expand its warehouse and distribution base and add further on site space to host and engage with clients offering advice and further assistance. New lease negotiations commenced during 2024, and a new lease agreement is expected in first quarter 2025, for Unit 7 (the existing unit) and 7A (the adjoining unit).

• The new lease arrangements will be reflected in the accounts in 2025, once agreed and the Trustees have an actual financial commitment, these will be accounted for under current SORP (Statement of Recommended Practice) requirements. Trustees note that in future (2026) these may need to change to reflect new requirements due to changes to the SORP when these come into effect.

6. Financial review

The accounts have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Church of England Measures (the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969, as amended)) , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).

6.1 Financial standing – headlines

The overall charity finances have improved for the sixth year running. The Trustee are committed to continue to engage with the congregation and other supporters through improved communications on the range of church ministry and activities to ensure that we maintain momentum in growth of resources for the work of the charity.

The total income for the year ended 31 December 2024 was £1,256,340 (2023: £1,792,839). The details of the income from donations are shown in the Financial Statements, Notes 2 & 4 .

In the year 2024, income passed the audit threshold with growth in general donations and one-off gifts and therefore the 2024 accounts are subject to Audit rather than Independent Examination. In the previous year (2023) overall income increased above the audit threshold because of significant capital grants towards St Helen’s building work, in these circumstances, a Charity Commission dispensation from audit was granted for the year 2023, refer to Note 21 .

Income to Restricted funds for the year of £886,475 (2023: £1,438,552) included a generous one-off gift of £124,000 (2023: £nil) from the Mary Hill Trust in support of Foodbank.

The total expenditure for the year was £1,169,097 (2023: £1,669,217), details of expenditure are set out in Notes 3 & 5 . Expenditure included total direct staff costs of £203,211 (2023: £195,200) reference Note 14 .

The net result for the year shows a fund surplus of £87,238 (2023: surplus of £123,699)

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

At 31 December 2024, fund balance totals were as follows:

Unrestricted (general) funds £44,719 (2023 - £8,857) Designated funds £28,853 (2023 - £24,054) Restricted funds £853,603 (2023 - £807,026) Represented by: Church restricted £45,936 (2023 - £51,407) Foodbank restricted £807,667 (2023 - £755,619) Total resources £927,175 (2023 - £839,937)

During 2024 unrestricted general income exceeded expenditure by £50,959 (2023 - £116,271). After transfers between funds, this provided a positive movement in general funds of £35,862 (2023 - positive movement £105,470).

During 2024 total funds increased by £87,238 to £927,175 (in 2023 funds increased by £123,699 to £839,937). While this is mostly due to the continuing support for Foodbank, and the amazing generosity of the people of Worcester, churches, and organisations, it is also of note that the growing generosity of the All Saints congregation resulted in a year end balances £44,719 in the General Fund (2023 surplus £8,857).

The PCC continues to plan with a five year financial forecast to ensure we can manage finances and commitments once the Strategic Development Fund grants come to an end in December 2025. Reviewing the All Saints Vision statement and improving communications are key components in our plans for 2025.

Foodbank reserves continue to keep Foodbank in a strong position to continue to serve during the economic crisis that we are currently experiencing. Foodbank’s forward plan for the next 5 years shows that we have financial resilience in the face of uncertainty over demand for food parcels and the location of our premises. With a reasonably sensible forecast of income from donations and generosity, we can have confidence in financial sustainability for the next two years based on our current very strong reserves position. However, this will be kept under review as we monitor continued growth in demand (10% in 2024, 30% in 2023) in the hope that we see a plateau in demand in the coming years.

6.2 Reserves policy

It is the policy of the charity to aim to maintain unrestricted funds, which are the free reserves of the charity, as a contingency to cover for urgent and emergency situations that may arise from time to time at a minimum level of £20,000. The PCC is currently operating within this policy.

The Unrestricted (general) fund balance at 31[st] December 2024 ("reserves") of £44,719 (2023 - £8,857) is primarily a result of sustained growth in general donations plus some underspend against budget in the year.

The charity aims to hold reserves of Unrestricted and Designated funds at a level in the range of 10% to 25% (circa 1 to 3 months) of projected annual operating costs for All Saints Church (within the range of £30,000 to £75,000). The PCC is currently operating within this policy.

The Unrestricted and Designated balance at 31[st] December 2024 is £73,572 (2023 - £32,911)

It is also the policy of the PCC to maintain a balance on the Foodbank Funds (restricted) equivalent of at least 9 months of operating costs. This equates to a range of £310K and £345K. Foodbank is currently operating within this policy.

The Foodbank funds balance at 31[st] December 2024 is £807,667 (2023 - £755,619)

This Policy provides funds to enable the charity:

• To ensure the charity has sufficient funds to meet its liabilities and ongoing financial commitments, especially in times of unexpected disruption or financial difficulty.

• To provide a financial buffer to cover fluctuations in income, particularly in the case of volatile regular giving, donations, fundraising activities, or other income sources.

• To provide sufficient reserves to enable the charity to make the changes in its organisation and activities necessary to respond to issues in an orderly and planned way, over a reasonable period of months.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

• To maintain the ability to fund future planned activities, projects, or smaller capital expenditure without placing undue strain on operating funds.

• To demonstrate financial prudence and accountability to donors, funders, regulators, and other stakeholders.

The Reserves policy is reviewed annually by the PCC to ensure its relevance and adequacy considering the charity’s circumstances and activities and taking into account the three risk areas of Operating Reserves, Project Reserves and reserves for unknown future events.

A number of restricted and designated funds are held for specific purposes. These are described in Note 1c and a financial schedule of the funds and fund movements is set out in Note 11 .

Asset cover for funds

Note 11 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

Savings Deposits & Investments

It is our policy to invest funds in Lloyds Bank and CBF Church of England Deposit Funds, after taking account of the need for cash in the bank current account to meet day to day expenses and cash flow. Some small investments arising from other historic charities and trusts are held in other investment funds. These will be reviewed on a regular basis.

6.3 Risk Management

The PCC is aware of its responsibility for risk management and has put in place arrangements to manage and reduce those risks which it regards as most significant. Risks are regularly considered by the Vicar, Church Wardens and Treasurer and reported to the PCC twice a year. The Trustees have assessed the major risks to which the PCC is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. The top 4 items which give the most concern, those with the highest Risk level in 2024 are as follows:

• Funding and income risk

• Total loss of foodbank warehouse to fire, flood, etc.

• Loss of use of key church buildings

• Failure of safeguarding arrangements resulting in a major incident.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

6.4 Safeguarding

The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have due regard to the House of Bishops’ guidance on safeguarding of children and vulnerable adults. The Appointed Safeguarding Officer reports to the PCC.

Screening procedures regarding the protection of children and vulnerable adults are employed. Disclosure and Barring Service (DBS) checks have been obtained as necessary for both paid and volunteer workers. During 2024, 32 DBS checks were processed (2023: 46). As from 1 January 2024 all DBS certificates expire after 3 years bringing the renewal process in line with the frequency of refresher safeguarding training.

The PCC previously adopted a further revision of the Diocesan Safer Recruiting Policy 2016 (derived from that of the Church of England) and the scope of these checks extends to cover all volunteers working with children and many of those working with vulnerable adults. It is a requirement that those working with children and vulnerable adults, in a paid or voluntary capacity, undertake a Diocesan Basic Safeguarding Awareness Training course every three years and during 2024 three levels of training (C0 - basic; C1 - foundation; C2 - leadership) were carried out online by volunteers and office holders as appropriate.

In 2024 the PCC continued to use the Diocesan Safeguarding Dashboard to monitor progress and as a means of self-assessment to ensure that it fulfils that duty. An action plan was drawn up and is being implemented. The PCC recognises its responsibility in relation to health and safety and disability legislation.

The role of Parish Safeguarding Officer with the Operations Manager oversees the recruitment, management and training of all staff, paid and voluntary. This ensures that role descriptions are given for all volunteers, application forms and references are sought where required and that all volunteers will receive letters of appointment before starting work.

Safeguarding status is reported to Trustees at each PCC meeting. The Annual PCC Review of Safeguarding occurs at the October PCC meeting, with a mid-year review at the July meeting.

6.5 Fundraising policy

The PCC is required by the Church of England to comply with the Fundraising Code of Practice issued by the Fundraising Regulator. All Saints Worcester is committed to raising funds in an ethical, transparent, and responsible manner to support our charitable mission.

All Saints is fortunate in having a loyal church membership and wider attendee base who have supported the church ministry activities of the charity over the years, and who give generously in support of our financial needs. Donors and supporters receive regular news and updates online on the church website and email link.

Worcester Foodbank activities of the charity benefit from broader support from individual supporters, churches, other organisations and businesses across the community. The food donation and financial needs of Worcester Foodbank are made known publicly across supporters and the wider community, with supporting material, and they respond magnificently. Foodbank updates supporters on plans and progress by means of regular newsletters and news items in local media and online.

In-house fund-raising activities and any specific campaign material are organised and produced out in-house by staff and volunteers within the requirements of the Fundraising Code of Practice issued by the Fundraising Regulator. These activities are managed and monitored by the senior Clergy and Foodbank management team, reporting to the PCC Trustees.

We have not used external agencies or third parties to specifically fundraise on our behalf and have taken a responsible approach to seeking funds for the protection of all our supporters, including those who may be deemed vulnerable.

We have not had any complaints about our fundraising, but were any to be received, they would be taken seriously and handled at a senior staff level and overseen by the PCC Trustees.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

6.6 Statement of Trustees’ Responsibilities for the Year ended 31[st] December 2024

The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice - UK GAAP).

Law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these accounts & financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position the charity and to ensure that the accounts and financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees' report is approved by the Board of Trustees.

Reverend Dr Rich Johnson PCC Chair Dated: 16[th] April 2025

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

7. Report of the Independent Auditors to the Trustees of The PCC Of The Parish Of St Nicholas & All Saint’s Worcester

Opinion

We have audited the financial statements of The PCC Of The Parish Of St Nicholas & All Saint’s Worcester (the 'charity') for the year ended 31st December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31st December 2024 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other Matters

The financial statements of the charity for the year ended 31st December 2023 were not audited.

Emphasis of Matter

We draw attention to Note 22 of the financial statements, which describes the effects of prior year adjustments to the comparative figures. Our opinion is not modified in respect of this matter.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below, we have:

• Obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the charity operates in and how the charity is complying with the legal and regulatory framework;

• Inquired of management, and those charged with governance, about their own identification and assessment of the risks and irregularities, including known actual, suspected or alleged instances of fraud; and

• Discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

8. The Annual Statement of Accounts for Year ended 31[st] December 2024: is set out on the following pages and has been subject to Independent Audit (see the Auditors’ Report – section 7).

8.1 Statement of Financial Activities 1[st] January 2024 to 31[st] December 2024

Notes	Unrestricte d funds Designated funds Restricted funds Total Funds 2024 Total Funds 2023 (restated) £ £ £ £ £
Income from 2 & 4 Voluntary income Activities for generating funds Investment income Incoming resources from charitable activities Other incoming resources Total income Expenditure on 3 & 5 Cost of generating voluntary income Charitable activities Governance costs Total expenditure Net income / (expenditure) resources before transfer Transfers Gross transfers between funds 6 Net income / (expenditure) resources Other recognised gains / losses Gains/losses on investment assets Net movement in funds Reconciliation of funds Fund balances at 1st January 2024 11 Fund balances at 31st December 2024	311,728 7,138 877,296 1,196,162 1,753,029 961 13,455 1,866 16,282 7,664 1,660 0 7,313 8,973 4,610 34,923 0 0 34,923 25,550 0 0 0 0 1,986
	349,272 20,593 886,475 1,256,340 1,792,839 5,217 14,692 316 20,225 5,372 288,790 8,876 838,406 1,136,072 1,640,145 4,306 0 8,494 12,800 23,700
	298,313 23,568 847,216 1,169,097 1,669,217
	50,959 -2,975 39,259 87,243 123,622
	-15,092 7,774 7,318 0 0
	35,867 4,799 46,577 87,243 123,622 -5 0 0 -5 77
	35,862 4,799 46,577 87,238 123,699
	8,857 24,054 807,026 839,937 716,238
	44,719 28,853 853,603 927,175 839,937

Notes 21 & 22: sets out the full comparative Statement of Financial Activities for 2023 as required by the Financial Reporting Standard 102.

Approved by the Trustees on 16[th] April 2025 and signed on behalf of the PCC by:

Rev. Dr. Rich Johnson (PCC Chairman)

Mr. Stephen Chase (Treasurer to the PCC)

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

8.2 Statement of Financial Activities (cont’d) 1[st] January to 31[st] December

Represented by Notes	Unrestricted funds Designated funds Restricted funds Total Funds 2024 Total Funds 2023 (restated) £ £ £ £ £
Unrestricted- General fund Designated Building Maintenance & Development Fund Cyclical Building Maintenance Eco Church Equipment & Furniture Fund Overseas Mission Partner Development Vicar's Discretionary Mission Support Fund Total Unrestricted Restricted Alpha Art Space Bell Ringers Fund Chairs Fund Chairs Fund Applied Community Youth (incl.Lightbox) Food Bank Project Food Bank Project - Contingency Reserve Foodbank Van Grant Applied Hope For Justice Mainly Music Fund National Grid Community Matters Organ Renovation Fund Youth Fund Total Restricted Total Funds	44,719 0 0 44,719 8,857 0 903 0 903 3,711 0 4,000 0 4,000 0 0 76 0 76 0 0 4,504 0 4,504 3,272 0 15,147 0 15,147 13,848 0 4,223 0 4,223 3,223
	0 28,853 0 28,853 24,054 0 0 0 0 224 0 0 30 30 0 0 0 9,741 9,741 8,581 0 0 2,767 2,767 2,612 0 0 21,195 21,195 24,668 0 0 1,808 1,808 0 0 0 694,617 694,617 640,619 0 0 105,000 105,000 105,000 0 0 8,050 8,050 10,000 0 0 0 0 648 0 0 285 285 0 0 0 5,081 5,081 9,730 0 0 1,973 1,973 2,277 0 0 3,056 3,056 2,667
	0 0 853,603 853,603 807,026
	44,719 28,853 853,603 927,175 839,937

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

8.3 Balance sheet as at 31[st] December 2024

Notes	As at 31/12/24 As at 31/12/23 (restated) £ £
Fixed assets Tangible Assets Note 7 Investments Note 8 Current assets Stocks And Work In Progress Note 12 Debtors Note 9 Cash At Bank And In Hand Liabilities Creditors: Amounts Falling Due In One Year Note 10 Net current assets less current liabilities Total net assets less liabilities Represented by Note 11 Unrestricted Funds Designated Funds Restricted Funds Totals Funds	29,245 34,668 1,262 1,267
	30,507 35,935 49,061 44,965 49,517 95,503 829,055 697,265
	927,633 837,733 30,965 33,731
	30,965 33,731
	896,668 804,002
	927,175 839,937
	44,719 8,857 28,853 24,054 853,603 807,026
	927,175 839,937

Approved by the Trustees on 16[th] April 2025 and signed on behalf of the PCC by:

Rev. Dr. Rich Johnson (PCC Chairman)

Mr. Stephen Chase (Treasurer to the PCC)

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

8.3a Balance sheet – between funds as at 31[st] December 2024

Notes	General Designated Restricted As at 31/12/24 As at 31/12/23 (restated) £ £ £ £ £
	0 0 29,245 29,245 34,668 1,262 0 0 1,262 1,267
	1,262 0 29,245 30,507 35,935 0 0 49,061 49,061 44,965 16,352 1,892 31,273 49,517 95,503 39,282 27,282 762,491 829,055 697,265
	55,634 29,174 842,825 927,633 837,733 12,177 321 18,467 30,965 33,731
	12,177 321 18,467 30,965 33,731
	43,457 28,853 824,358 896,668 804,002
	44,719 28,853 853,603 927,175 839,937
	44,719 0 0 44,719 8,857
	0 28,853 0 28,853 24,054
	0 0 853,603 853,603 807,026

Approved by the Trustees on 16[th] April 2025 and signed on behalf of the PCC by:

Rev. Dr. Rich Johnson (PCC Chairman)

Mr. Stephen Chase (Treasurer to the PCC)

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

8.4 Statement of Cash flows for year ended 31[st] December 2024

Notes	2024 £	2023 (restated) £
Cash flows from operating activities: Net cash provided by (used in) operating activities Table A 122,817 75,414 Cash flows from investing activities: Dividends, interest and rents from investments 8,973 4,610 Purchase of property, plant and equipment 0 -16,216 Net cash provided by (used in) investing activities 131,790 63,808 Net Cash flow - Change in cash and cash equivalents in the reporting period 131,790 63,808 Cash and cash equivalents at the beginning of the reporting period 697,265 633,457 Cash and cash equivalents at the end of the reporting period Table B 829,055 697,265 Table A: Reconciliation of net income/(expenditure) to net cash flow from operating activities 2024 2023 (restated) £ £		75,414 4,610 -16,216
		63,808
		63,808
		633,457
		697,265
Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges Net (gains) / losses on investments Dividends and interest received (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities Table B: Analysis of changes in net debt At start of year £ Cash at bank and in hand 694,176 Cash equivalents 3,089 Total cash and cash equivalents 697,265	87,238 5,423 5 -8,973 -4,096 45,986 -2,766 122,817 Cash-fows £ 133,216 -1,426 131,790	123,699 8,875 -77 -4,610 8,303 -72,820 12,044 75,414 At end of year (restated) £ 827,392 1,663
		829,055

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

8.5 Statement of assets and liabilities for year ended 31[st] December 2024

Notes	Unrestricted Designated Restricted Total 2024 Total 2023 (restated) £ £ £ £ £
Fixed Asset - Investments CCLA St Michael in Bedwardine MG CCFI St Michael in Bedwardine Total Fixed Asset - Tangible Assets Foodbank Van All Saints Furnishings Total Current Asset - Cash At Bank And In Hand Bank Current Account Foodbank Purchases Debit Card Account Bank deposit instant access Bank deposit instant access Bank deposit St Michaels CCLA (CBF) deposit account CCLA (CBF) deposit account CCLA (CBF) deposit account CCLA (CBF) dep ac St Nicholas Bell Ringers Bank Account Cash in hand Note 12 Foodbank Gift Cards (cash) in hand Note 12 Total Current Asset - Debtors Rent Deposit Z05: Accounts Receivable Note 9 Total Current Asset - Stocks And Work In Progress 6592: Stocks of food Total Liability - Creditors: Amounts Falling Due In One Year Z04: Accounts Payable Note 10 Total Net total assets	700 0 0 700 684 562 0 0 562 583
	1,262 0 0 1,262 1,267 0 0 8,050 8,050 10,000 0 0 21,195 21,195 24,668
	0 0 29,245 29,245 34,668 10,927 3,399 10,845 25,171 22,892 0 0 13,184 13,184 17,007 27,624 23,883 726,632 778,139 639,702 1 0 0 1 1,171 0 0 0 0 807 0 0 0 0 2,523 87 0 0 87 87 28 0 0 28 26 477 0 0 477 453 0 0 9,771 9,771 8,611 138 0 988 1,126 3,986 0 0 1,071 1,071 0
	39,282 27,282 762,491 829,055 697,265 0 0 4,167 4,167 4,167 16,352 1,892 27,106 45,350 91,336
	16,352 1,892 31,273 49,517 95,503 0 0 49,061 49,061 44,965
	0 0 49,061 49,061 44,965 12,177 321 18,467 30,965 33,731
	12,177 321 18,467 30,965 33,731
	44,719 28,853 853,603 927,175 839,937

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Notes to the Financial Statements and Accounts for Year ended 31[st] December 2024

Note 1 - Accounting Policies - for the year ended 31 December 2024

The Parochial Church Council of the Ecclesiastical Parish of St. Nicholas & All Saints Worcester (also known as All Saints Worcester including the governance, operations and activities of Worcester Foodbank) is a registered charity.

Registered Charity Number 1128121 Principal Address St Helen’s Church House, Fish Street, Worcester, WR1 2HN

Note 1a - Accounting Convention (Basis of Accounting)

The financial statements have been prepared in accordance with the requirements of the Charities Act 2011 and any regulations made there under and the Charities SORP; Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS102 - effective 1 January 2019). The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value.

The Trustees have concluded that the financial statements give a true and fair view and comply with accounting standards and applicable legislation.

The charity is a public benefit organisation.

The accounts are presented in GBP and are rounded to the nearest £1.

Note 1b - Going concern

The accounts have been prepared on the going concern basis. There are no material uncertainties about the charity's ability to continue.

Note 1c - Charitable Funds

Fund Accounting

Unrestricted funds (General funds) : are the funds available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated Funds : comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are as described in the notes to the financial statements. Designated funds remain legally Unrestricted.

Restricted funds : are funds to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.

The accounts include all 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 affiliation to another body nor those that are informal gatherings of Church members.

The income from permanent endowments is used in accordance with the intentions of the donors, as far as they can be ascertained. To date, the Charity has no permanent endowments.

The purposes of funds and their continued status is reviewed and confirmed by Trustees during the annual budget process each year.

Funds held by the PCC: a schedule of fund movement in 2024 is set out in Note 11 . The following table explains each fund and why it is held.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

	Fund	Purpose of fund
	Unrestricted- General Fund Unrestricted- Designated funds Building Maintenance and Development Fund Eco - Eco Church Equipment & Furniture Fund Events - Internal Church New Wine National Lead Post Overseas Mission Partner Development Sound and Audio-Visual Fund St Stephen Vicar's Discretionary Mission Support Fund Restricted funds Alpha Art Space Bell Ringers Fund Building Maintenance and Development Fund Res Chairs Fund Chairs Fund Applied Foodbank Project Foodbank Contingency – Warehouse lease and move	The fund through which everything passes unless the item relates to a specific fund. This fund is unrestricted by Charity Law.
		These are unrestricted funds that have been set aside by the PCC for specific purposes. Designation status of funds is reviewed and confirmed during the annual budget approval process each year.
		General building maintenance of the church buildings including the church office. To provide for the costs of developing an Eco strategy for the church Replacement and provision of office and church equipment and furniture. To provide for the costs of church Events Fund to track backfill funds from NW, held for in-year transfer to General Fund in support of resourcing church grant taper transition and to add focussed capacity for growth. Surplus at year end transferred back to General Fund. Set aside to help develop better links with our overseas mission partners. Replacement and provision of sound and audio-visual equipment in All Saints and St Helen’s churches. Fund for activities associated with St Stephens resource church plant. To enable the vicar to use his discretion in supporting those in need and also to provide for the All Saints Community Support funds.
		These funds are restricted by Charity Law for the specific purposes; usually because the funds were donated for those specific purposes.
		To provide for the costs of running Alpha courses. To provide for the costs of running Art Space. Operated by the All Saints Bell Ringers. General building maintenance of the church buildings including the church office. Reserves to build resilience for cyclical replacement and refurbishment.(Note: fund at zero balance, to be closed in 2025 and a designated fund to be set up). For the purchase, maintenance, and replacement of chairs for All Saints and St Helen’s. A technical accounting fund for Chairs capital costs met by restricted donations to Chairs Fund. The fund for all Worcester Foodbank operations. A contingency for the consequential costs of premises including higher rents, legal and professional fees associated with the renewal of the warehouse lease and the move to new premises when the existing property is reclaimed by the Landlord for redevelopment. This includes provision for the costs of moving and rent of new premises during the crossover period and to cover possible dilapidations liability.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Foodbank Van Purchase	A technical accounting fund for the Foodbank Van capital costs met
Grant Applied	by the ASDA grant.
Hope for Justice	Fund for donations to Hope for Justice.
Lightbox	Community Youth work and engagement.
Mainly Music Fund	To provide for the costs of Mainly Music.
National Grid Community	Grant specifically received for warm spaces community engagement
Matters	on fuel poverty, energy saving measures and keeping warm.
Organ Renovation Fund	To provide for the costs of the Organ.
Resourcing Church Funds-	All costs and income associated with the Resourcing Church project
3 funds:	funded by the Church Commissioners through the Diocese and the
Building Works,	Strategic Development Fund to help regenerate the church our area
St Peter’s Bengeworth,	of the Diocese.
Resourcing Staff costs
Youth Fund	Youth work.

Note 1d - Funds held as a custodian for others

The PCC has custody of one investment account which bears a name other than All Saints PCC, the historic Parish account is unrestricted and yields to the benefit of All Saints PCC.

Two accounts named All Saints Bell Ringer’s hold restricted funds for the All Saints Tower Bell Ringers Society.

Note 1e - Income

Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, income is received, or it is probable that the income will be received, and the amount can be measured reliably. Incoming resources are recognised as follows:

Donations and Legacies

Cash & Collections: accounted for when received by or on behalf of the PCC

Gift cards: accounted for as cash when received

Planned giving under Gift Aid or pledge is accounted for only when received

On-line giving is accounted for net of fees charged by the on-line provider

Income tax: recoverable on Gift Aid donations is accounted for when the donation is received

Grants and Legacies: to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due is known.

Donated goods held by the charity for distribution to its beneficiaries are recognised as stock, with the corresponding income recognised within donations and measured at its fair value. Food and other goods donated to the charity for distribution to those in need are valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £2.77 per kilogram for 2024. (Increased from £2.37 per kilogram in 2023).

If it is impractical to assess the value of donated stock held for distribution at the time of receipt, or if the costs involved in undertaking the valuation of donated stock outweigh the benefit to users of the accounts and to the charity of having this financial information, the value to the charity of the gift is recognised as a component of donations when it is distributed, with an equivalent amount recognised as charitable expenditure.

Charitable Activities

Fundraising: special events (e.g. concerts) accounted for when the relating fundraising event has occurred.

Sales of books and magazines: accounted for when the goods have passed to the customer.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Other ordinary income

Rental income: from the short term letting of church premises is accounted for when the rental services have been provided to the customer.

Other income is accounted for when received

Income from investments

Dividend income is recognised when the dividends have been declared.

Bank interest is recognised in accordance with the effective interest model.

Note 1f – Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. It includes any VAT which cannot be fully recovered and is allocated to the activity for which it relates.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned between activities in line with their respective proportion of income received.

Charitable Activities

Parish share: accounted for when payable. Any agreed payment remaining unpaid at 31[st] December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.

Grants and donations to missions etc.: accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC.

Gift cards are expended and accounted for as cash equivalents

Stock of donated goods: In the reporting period in which stocks are distributed, they are recognised as an expense and appropriately analysed as expenditure in the SoFA. The expense recognised is the carrying amount of the stocks at the point of distribution.

Food and other goods distributed to those in need are also valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £2.77 per kilogram for 2024. (Increased from £2.37 per kilogram in 2023).

Purchases using the church Barclaycard Credit Card

All balances on the Barclaycard account are paid by Direct Debit in full on the due date to avoid incurring interest charges and to avoid creating a loan outstanding.

Purchases are accounted for when the respective statement is paid.

Payment of regular liabilities and accounting for a full year of costs

All periodic payments are accounted for when paid and any liabilities at the year-end which are yet to be invoiced are accrued, thus ensuring a full year of costs is accounted for each year.

Support costs

Support service costs are allocated to expenditure on charitable activities on the basis of staff costs or on the estimated time spent by the support service if this is more appropriate.

Governance costs, included within support service costs, are those incurred in connection with the administration of the charity, compliance with constitutional and statutory requirements and the costs of executive management and strategic governance of the charity.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 1g - Fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by s.96(2)(a) of the Charities Act 1993.

No value is placed on movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers these to be inalienable (i.e., cannot be transferred to another person). They are listed in the Church’s inventory, which can be inspected (at any reasonable time). For inalienable property acquired before 2006 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 2006 have been capitalized and depreciated in the financial statements over their anticipated useful economic life on a straightline basis.

All expenditure incurred during the year on consecrated or benefice buildings, individual items under £2,500, on repair, or movable church furnishings, is shown as expenditure for the year in the financial statements.

Tangible Fixed Assets

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible asset into its intended working condition should be included in the measurement of cost.

A review for impairment of fixed assets is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

Other fixtures, fittings and office equipment

Individual items of equipment with a purchase price of £2,500 or less are shown as expenditure in the year when the asset is acquired.

Church equipment comprises office equipment, musical instruments, sound, and projection equipment. Foodbank equipment comprises office equipment, commercial scales, storage crates, heavy duty shelving, chairs, and tables. All of these are estimated to have an individual value of less than £2,500 each.

Depreciation

Depreciation is provided at rates calculated to write off the cost of fixed assets with value greater than £2,500, less their estimated residual value, over their expected useful lives on the following bases:

Motor vehicles	- 10 years straight line
Fixtures & fittings general	- 10 years straight line
Sound desk cabinets	- 40% in year one plus 9 years straight line (assumed life span 10 years)
Chairs & trollies	- 25% in year one plus 9 years straight line (assumed life span 10 years)
Office equipment	- 5 years straight line
Computer equipment	- 5 years straight line

Fixed Assets and depreciation are set out in Note 7 .

Investments

Investments are valued at year end market value. Gains and losses on revaluation of investments is recognised in the statement of financial activities. Investments are set out in Note 8 .

Current assets

Amounts owing to the PCC at 31[st] December in respect of fees, rents or other income are shown as debtors, less provision for amounts that may prove uncollectable.

Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 1h - Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

Note 1i - Gifts in kind & Stock

Gifts in kind are non-monetary items that have been donated to the charity for charitable purposes. Typically, this includes:

Volunteers: the time given by volunteers is not accounted for in the accounts, but they are reported in the notes to the accounts; see Note 19 . Volunteers are the backbone of the Mission and Ministry of All Saints Church, and the Annual Review sets this out and expresses our thanks for the amazing work that is done. Foodbank is staffed by volunteers and local companies and organisations donate staff time to Foodbank. The PCC’s gratitude for these gifts is reflected in the Annual Report.

Donations to Foodbank: accounting for donated goods for distribution to beneficiaries

The weight of food and toiletry goods donated to Foodbank and goods distributed as client packages is recorded and measured at its fair value in accordance with the policy for donated goods stock for income ( Note 1e ) and expenditure ( Note 1f ). Fair value per kilogram (kg) weight is determined from Trussell Trust supermarket supplier valuations for the standard items included in client distribution packages, as noted below for Stock. (refer also to Note 19 ).

Stock

Food and other goods that have been donated to the charity for distribution but held in storage as at the yearend date are valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £2.77 per kilogram for 2024. (Increased from £2.37 per kilogram in 2023). (refer to Note 1n - Critical accounting estimates and judgements).

This represents a change in accounting policy from the previous financial year. The comparatives have been restated due to the change in this accounting policy. See note 24 for further details.

Note 1j - Financial instruments.

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the PCC's balance sheet when the PCC becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Derecognition of financial liabilities

Financial liabilities are derecognised when the PCC’s contractual obligations expire or are discharged or cancelled.

Note 1k - Financial Commitments

Rents payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term. Details of Financial commitments are set out in Note 15 .

Property leases

Foodbank lease for Unit 7. The lease contains a Tenant and Landlord break clause with nine months-notice, the Landlord only to exercise upon obtaining planning permission for development of the site. Rent remains the same. The lease has 18 months remaining and the rent is shown as expenditure for Foodbank warehouse in the accounts. The 9 month break clause can be triggered by the tenant at any time and therefore the lease is considered a short-term lease liability. A replacement lease has been under negotiation through 2024 for Unit 7 (existing unit) and 7a (adjoining unit), this is work remains in progress and is expected to be agreed in 2025 and recognised in the accounts appropriately as a commitment once in place.

Other leases

The charity has two non-material leases for the office Photocopier & Cathedral Hygiene equipment, these are of low asset value and rents are shown as office and church running costs in the accounts

Note 1l - Employee benefits

The cost of any unused holiday entitlement (if any) is recognised in the period in which the employee’s services are received.

Termination benefits (if any) are recognised immediately as an expense when the PCC is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Note 1m - Retirement benefits

All Saints Worcester participates in the Peoples Pension scheme for staff, a defined contribution pension scheme. Peoples Pension scheme costs are charged to the expenditure in the period that they are incurred

The Peoples Pension

• The pension is an occupational pension scheme

• the name of the scheme is The People’s Pension

• the pension scheme registry (PSR) number is 12005993

• the scheme address is The People’s Pension, Manor Royal, Crawley, RH10 9QP.

Note 1n - Critical accounting estimates and judgements

In the application of the PCC’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Foodbank – stock gift in kind valuation

Food and other goods that have been donated to the charity for distribution but held in storage as at the yearend date are valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £2.77 per kilogram for 2024 (Increased from £2.37 per kilogram in 2023). The price £2.77 per kg is based on Trussell Trust research from across the UK.

Page 29

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 2 - Analysis of income 2024

Income	Unrestricted Designated Restricted Total 2024 Total 2023 (restated) £ £ £ £ £
Regular Giving including Gift Aid Other planned giving Loose plate collections SumUp Card Payments One-off Gift Aid gifts Donations appeals etc Donations from Churches & Charities Donations from other organisations Donations Gift Cards Tax recoverable on Gift Aid Non-recurring one-off grants Gifts in kind - donated food Voluntary Income Total Bank and building society interest Income from investments Interest & Investments Total Income from activities and events Fundraising activities, sales etc. Incoming resources from generated funds Totals New Wine contract income Fees for weddings and funerals Incoming resources from charitable activities Totals Insurance claims Other incoming resources Totals Incoming resources Grand totals	205,559 2,038 122,072 329,669 356,101 33,403 0 5,790 39,193 58,378 1,028 0 0 1,028 2,445 7,100 0 1,955 9,055 10,091 230 0 5,536 5,766 6,105 2,987 0 28,277 31,264 31,509 0 50 180,391 180,441 39,379 15,456 0 15,760 31,216 54,282 0 0 6,365 6,365 0 44,819 0 27,173 71,992 92,344 1,146 5,050 267,740 273,936 844,870 0 0 216,237 216,237 257,525
	311,728 7,138 877,296 1,196,162 1,753,029 1,615 0 7,313 8,928 4,605 45 0 0 45 5
	1,660 0 7,313 8,973 4,610
	931 13,455 1,578 15,964 6,058 30 0 288 318 1,606
	961 13,455 1,866 16,282 7,664
	33,200 0 0 33,200 24,900 1,723 0 0 1,723 650
	34,923 0 0 34,923 25,550
	0 0 0 0 1,986
	0 0 0 0 1,986
	349,272 20,593 886,475 1,256,340 1,792,839

Page 30

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 3 - Analysis of expenditure 2024

Note 3 - Analysis of expenditure 2024
Expenditure Notes	Unrestricted Designated Restricted Total 2024 Total 2023 (restated) £ £ £ £ £
Cost of generating funds Costs of applying for grants Costs of Activities Events Fundraising Donation Platform Fees Cost of generating funds Totals Charitable activities Giving to missionary partners 13 Giving to Charity Assigned 13 Giving to Home mission Pastoral Gifts to individuals Mission Giving to others sub total Ministry Share Ministry - fees paid to Diocese Cost of Clergy sub total Assistant staff costs Staff salaries Staff Costs: Cleaning Staff Salaries - Children & Youth Staff Team - employment costs sub total 14 Transport costs Property Rent Property Insurance Property advisors (e.g. Fire & H&S) Property Service & maintenance charges Ops & buildings Foodbank sub total Clergy Ministry Costs Working expenses of clergy Visiting speakers / locums Clergy Phone, internet & Office costs Ministry: church training & development Clergy Ministry costs sub total ALPHA Courses Ministry: Children's Church Ministry: Community Youth & Social Action Ministry: Pastoral Care Ministry: Mainly Music Ministry: Students Ministry: Youth Ministry: Bell ringing Ministry: Worship Ministry: Worcester Food Bank Ministry: Development Resources Ministry: Personal Spiritual Development Church Mission activities sub total	0 0 54 54 317 1,034 14,692 262 15,988 5,055 4,183 0 0 4,183 0
	5,217 14,692 316 20,225 5,372 23,860 0 648 24,508 16,500 0 0 63,365 63,365 46,447 400 0 360 760 1,438 1,327 0 2,020 3,347 12,337
	25,587 0 66,393 91,980 76,722 77,466 0 0 77,466 73,822 1,679 0 0 1,679 797
	79,145 0 0 79,145 74,619 0 0 0 0 64 57,568 5,004 105,900 168,472 160,018 6,315 0 0 6,315 5,733 15,948 0 12,476 28,424 29,385
	79,831 5,004 118,376 203,211 195,200 0 0 1,126 1,126 1,251 0 0 30,800 30,800 30,692 0 0 1,876 1,876 1,766 0 0 1,980 1,980 0 0 0 0 0 506
	0 0 35,782 35,782 34,215 6,892 0 36 6,928 5,432 0 0 0 0 225 1,160 0 0 1,160 1,365 8,591 14 466 9,071 4,746
	16,643 14 502 17,159 11,768 0 0 200 200 0 1,203 15 0 1,218 1,601 441 0 133 574 4,259 61 0 0 61 52 0 0 1,707 1,707 1,912 1,052 0 0 1,052 398 1,344 0 0 1,344 1,861 0 0 383 383 385 752 0 0 752 1,000 0 0 14 14 718 500 0 244 744 1,157 2,197 0 0 2,197 2,906
	7,550 15 2,681 10,246 16,249

Page 31

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Expenditure Note 3 continued	Unrestricted Designated Restricted Total 2024 Total 2023 (restated) £ £ £ £ £
Foodbank activities Food Purchases - Foodbank Non Food Supplies Clients Exp' Taxi, Trolley etc - Foodbank Managers Meetings Volunteers Exp - Foodbank Van Maintenance - Foodbank Depreciation of van Foodbank activities sub total Depreciation of All Saints Furnishings Church running - insurance Church Office running costs Church Office running - electricity Church Office running - gas Church Office running - maintenance Church Building Maintenance Cleaning Upkeep of services Sound & Audio Visual Systems Equipment Warehouse consumables Upkeep of churchyard Administration & Stationery Bank charges interest paid Church running - electric Church running - gas Church running - water Church major repairs professional fees Ops & Buildings costs sub total Charitable activities Totals Governance costs Auditor remuneration Legal and professional fees Governance costs Totals Resources used Grand totals Total - net income / (expenditure)	0 0 543,685 543,685 523,520 0 0 10,040 10,040 2,782 0 0 0 0 100 0 0 56 56 216 0 0 2,025 2,025 3,936 0 0 2,221 2,221 2,991 0 0 1,950 1,950 1,950
	0 0 559,977 559,977 535,495 0 0 3,473 3,473 5,251 11,969 0 400 12,369 12,240 1,226 0 0 1,226 2,444 1,380 0 0 1,380 976 1,163 0 0 1,163 871 5,225 0 0 5,225 2,078 8,271 528 8,415 17,214 56,050 3,744 0 1,620 5,364 3,608 12,037 0 1,242 13,279 11,488 3,570 2,000 0 5,570 1,797 1,338 1,295 9,969 12,602 15,801 0 0 810 810 16,445 0 0 0 0 160 5,998 20 6,321 12,339 9,990 379 0 99 478 539 4,258 0 -1,579 2,679 3,705 18,578 0 3,983 22,561 13,973 898 0 756 1,654 1,139 0 0 19,186 19,186 537,322
	80,034 3,843 54,695 138,572 695,877
	288,790 8,876 838,406 1,136,072 1,640,145
	4,306 0 6,734 11,040 0 0 0 1,760 1,760 23,700
	4,306 0 8,494 12,800 23,700
	298,313 23,568 847,216 1,169,097 1,669,217
	50,959 -2,975 39,259 87,243 123,622

Page 32

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 4 – Within the Restricted column of Note 2 - Analysis of income – Foodbank Restricted Funds

Income Notes	2024 2023 (restated) £ £
Incomes from generated funds - Voluntary Income Regular Giving including Gift Aid Other planned giving SumUp Card Payments One-off Gift Aid gifts Donations appeals etc Donations from Churches & Charities Donations from other organisations Donations Gift Cards Tax recoverable on Gift Aid Non-recurring one-off grants Gifts in kind - donated food Voluntary Income Total Bank and building society interest Interest & Investments Total Other incoming resources Other incoming resources Other incoming resources Totals Income Totals	121,826 132,843 3,528 18,723 15 541 5,536 6,105 28,107 27,703 179,079 39,279 15,230 48,519 6,365 0 27,069 44,202 177,492 107,396 216,237 257,525
	780,484 682,836 7,213 0
	7,213 0 0 1,500
	0 1,500
	787,697 684,336

Note 5 – Within the Restricted column of Note 3 - Analysis of expenditure – Foodbank Restricted Funds

Expenditure Notes	2,024 2,023 (restated) £ £
Cost of generating funds Costs of applying for grants Costs of Activities Events Cost of generating funds Totals Charitable activities Grant funding of Worcester CAB staff positions Giving to Home mission Pastoral Gifts to individuals Mission Giving to others sub total Staff Team - employment costs Staff salaries Staff Team - employment costs sub total	54 317 0 345
	54 662 63,365 46,167 360 360 20 0
	63,745 46,527 49,349 30,915
	49,349 30,915

Page 33

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Foodbank Expenditure continued Notes	2,024 2,023 (restated) £ £
Operational & buildings costs Foodbank Transport costs Property Rent Property Insurance Property advisors (e.g. Fire & H&S) Property Service and maintenance charges Ops & buildings Foodbank sub total Clergy Ministry Costs Working expenses of clergy Ministry: church training and development Ministry: Worcester Food Bank Church Mission activities sub total Foodbank activities Food Purchases - Foodbank Non Food Supplies Clients Exp' Taxi, Trolley etc - Foodbank Managers Meetings Volunteers Exp - Foodbank Van Maintenance - Foodbank Depreciation of van Foodbank activities sub total Operational & Buildings costs Church running - insurance Building Maintenance Cleaning Equipment Warehouse consumables Administration & Stationery Bank charges interest paid Church running - electric Church running - gas Church running - water Ops & Buildings costs sub total Charitable activities Totals Governance costs Auditor remunerations Legal and professional fees Governance costs Totals Expenditure Total Total - net income / (expenditure)	1,126 1,251 30,800 30,692 1,876 1,766 1,980 0 0 156
	35,782 33,865 36 0 450 49 14 718
	500 767 543,685 523,520 10,040 2,782 0 100 56 216 2,025 3,936 2,221 2,991 1,950 1,950
	559,977 535,495 400 400 2,568 9,578 1,620 911 6,056 5,014 810 16,445 6,305 4,205 99 83 -1,579 1,505 1,973 4,002 756 668
	19,008 42,811
	728,415 691,042
	6,734 0 500 0
	7,234 0
	735,649 691,042
	52,048 -6,706

Page 34

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 6 – Transfers

Note 6 – Transfers
Transfers - Description and Reason Notes	Unrestricted funds Designated funds Restricted funds Total Funds 2024 £ £ £ £
General Fund to Designated Fund 11 General (Unr) to Cyclical Maintenance (Des) - annual reserve provision for future cyclical maintenance General (Unr) to Equipment Fund (Des) - to cover deficit on designated fund General (Unr) to Events Internal (Des) - to cover deficit on designated fund General (Unr) to Overseas Mission Partner Development (OMP) - increase in closing designated fund balance General (Unr) to Vicar's Discretionary Mission Support Fund (Vicar) - increase in closing designated fund balance Designated fund to General Fund General (Unr) to St Stephens (Des) - clear residual balance on end of designated fund project Building Maint & Dev (Des) to General (Unr) - reduction in closing designated fund balance General Fund to Restricted Fund General (Unr) to Building Maintenance Development Fund (Res) - to cover overspend in year on restricted fund General (Unr) to Resourcing Church Building (Res) - to cover overspend in year on restricted fund General (Unr) to Resourcing Church Staff (Res) - to cover overspend in year on restricted fund Gross transfers between funds	-4,000 4,000 0 0 -2,526 2,526 0 0 -1,260 1,260 0 0 -1,300 1,300 0 0 -1,000 1,000 0 0 32 -32 0 0 2,280 -2,280 0 0 -2,523 0 2,523 0 -3,407 0 3,407 0 -1,388 0 1,388 0
	-15,092 7,774 7,318 0

Page 35

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 7 – Tangible Fixed Assets

The PCC has the following tangible fixed assets with a value greater than £2,500 as follows:

Notes	Foodbank Van All Saints Furnishings £ £	Totals £ 62,880 62,880 28,212 5,423 33,635 29,245 34,668 decreased overall by £5 d 2024 2023 (restated) £ £
Cost At 1st January 2024 19,750 43,130 At 31st December 2024 19,750 43,130 Depreciation At 1st January 2024 9,750 18,462 Charge in year 1,950 3,473 At 31st December 2024 11,700 21,935 Net Book Value At 31st December 2024 8,050 21,195 Net Book Value At 31st December 2023 10,000 24,668 Note 8 - Investments The PCC holds a small amount in investments. The value of these accounts has 2024 (increased by £77 to total £1,267 during 2023): Notes	19,750 43,130
	19,750 43,130 9,750 18,462 1,950 3,473
	11,700 21,935
	8,050 21,195
	10,000 24,668
CCLA - St Michael in Bedwardine Church Charity - All Saints PCC Value as at 1st January 2024 34.5 shares @ 1984.5p change in value (gain or loss) Value as at 31st December 2024 34.5 shares @ 2029.33p M&G - St Michael in Bedwardine Church Charity Value as at 1st January 2024 521 shares @ 111.84p change in value (gain or loss) Value as at 31st December 2024 521 shares @ 107.90p Total value at year end Gain / (loss)		685 626 15 59
		700 685 583 564 -21 18
		562 582
		1,262 1,267
		-5 77

The PCC holds a small amount in investments. The value of these accounts has decreased overall by £5 during 2024 (increased by £77 to total £1,267 during 2023):

Page 36

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 9 - Debtors (Accounts receivable)

Note 9 - Debtors (Accounts receivable)
Funds Receivable from:	2024 2023 (restated) £ £
Resourcing Ch & Foodbank Accrued income - grant income General, Chairs & Foodbank Accrued income - gift aid recoverable Various Accrued income - other income General & Foodbank Accrued income- online platforms General & Foodbank Pre-payments- Rent & Insurance Total Funds Receivable in more than 1 year for:	12,600 53,613 6,759 13,263 1,375 3,800 6,160 2,588 18,456 18,072
	45,350 91,336
	2024 2023 £ £
Foodbank Unit 7 Rent deposit Total Debtors - Total Note 10 – Creditors – (Accounts Payable) Funds Payable within 1 year for:	4,167 4,167
	4,167 4,167
	49,517 95,503

Page 37

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 11 – Funds & Fund Movements

2024 Fund Movement **Represented by: **	Opening Incoming Outgoing Revalue Transfers Closing bfwd Resources Resources cfwd £ £ £ £ £ £
Unrestricted - General funds Designated Building Maint. & Development Fund Cyclical Building Maintenance Eco Church Events - Internal Church St Stephen Equipment & Furniture Fund Sound & Audio Visual Fund Overseas Mission Partners Vicar's Discretionary Mission Support Unrestricted - Designated Total Unrestricted funds Restricted Building Maint. & Development Res Collection For Individuals/charities Hope For Justice Community Youth (including Lightbox) National Grid Community Matters Alpha Art Space Bell Ringers Fund Chairs Fund Chairs Fund Applied Food Bank Project Foodbank Contingency Reserve Foodbank Van Purchase Grant Applied Mainly Music Fund Organ Renovation Fund Resourcing - Building Works Resourcing St. Peter's Bengeworth Resourcing Church - Staff Youth Fund Total restricted funds Totals	8,857 349,272 298,313 -5 -15,092 44,719 3,711 0 528 0 -2,280 903 0 0 0 0 4,000 4,000 0 76 0 0 0 76 0 13,467 14,727 0 1,260 0 0 5,050 5,018 0 -32 0 3,272 0 1,294 0 2,526 4,504 0 2,000 2,000 0 0 0 13,848 0 1 0 1,300 15,147 3,223 0 0 0 1,000 4,223
	24,054 20,593 23,568 0 7,774 28,853
	32,911 369,865 321,881 -5 -7,318 73,572
	0 0 2,523 0 2,523 0 0 2,000 2,000 0 0 0 648 0 648 0 0 0 0 2,142 334 0 0 1,808 9,730 0 4,649 0 0 5,081 224 0 224 0 0 0 0 30 0 0 0 30 8,581 1,544 384 0 0 9,741 2,612 155 0 0 0 2,767 24,668 0 3,473 0 0 21,195 640,619 787,696 733,698 0 0 694,617 105,000 0 0 0 0 105,000 10,000 0 1,950 0 0 8,050 0 1,992 1,707 0 0 285 2,277 0 304 0 0 1,973 0 17,038 20,445 0 3,407 0 0 11,095 11,095 0 0 0 0 62,115 63,503 0 1,388 0 2,667 668 279 0 0 3,056
	807,026 886,475 847,216 0 7,318 853,603
	839,937 1,256,340 1,169,097 -5 0 927,175

Page 38

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 11b Fund Movement - Prior Year 2023 (restated) - for comparison

	ior Year 2023 (restated) - for comparison
2023 Fund Movement Represented by: General fund (Unrestricted) Designated (unrestricted) funds Building Maintenance Fund Equipment & Furniture Fund Events Sound and Audio-Visual Fund Homes for Good Overseas Mission Partner Dev’t Vicar's Disc’ry Mission Support Vicar’s Sabbatical Donations fund Total Designated funds Total of all unrestricted funds Restricted funds Alpha Bell Ringers Fund Building Maint. & Dev’t Fund Chairs Fund Chairs Fund Applied Food Bank Project Foodbank Contingency – Warehouse lease and move Foodbank Van Grant Applied Hope for Justice Mainly Music National Grid Community Matters Organ Renovation Fund Resource Church Building Works Resource Church St Peter’s Plant Resource Church – Staff Youth Fund Total restricted funds Grand total	Opening Incoming Outgoing Revalue Transfers Closing
	bfwd Resources Resources cfwd £ £ £ £ £ £
	-96,613 344,251 230,280 77 -8,578 8,857 1,725 1,986 0 0 0 3,711 3,272 0 0 0 0 3,272 0 1,074 170 0 -904 0 212 0 0 0 -212 0 158 0 158 0 0 0 12,548 0 0 0 1,300 13,848 2,589 184 550 0 1,000 3,223 0 6,792 12,000 0 5,208 0
	20,504 10,036 12,878 0 6,392 24,054
	-76,109 354,287 240,858 77 -4,486 32,911
	239 0 15 0 0 224 7,643 1,323 385 0 0 8,581 0 23,331 27,817 0 4,486 0 2,466 146 0 0 0 2,612 15,377 0 2,426 0 11,717 24,668 645,248 684,463 677,375 0 -11,717 640,619 105,000 0 0 0 0 105,000 11,950 0 1,950 0 0 10,000 648 0 0 0 0 648 0 2,004 2,004 0 0 0 0 10,009 279 0 0 9,730 2,534 0 257 0 0 2,277 0 578,048 578,048 0 0 0 0 38,905 38,905 0 0 0 0 94,347 94,347 0 0 0 1,242 5,976 4,551 0 0 2,667
	792,347 1,438,552 1,428,359 0 4,486 807,026
	716,238 1,792,839 1,669,217 77 0 839,937

Page 39

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 12 – Stock

Note 12 – Stock
Fund		2024 2023 (restated) £ £
Foodbank Foodbank supplies held for distribution to beneficiaries Note 13 – Grants payable	49,061 44,965 49,061 44,965 2024 2023 (restated) £ £ 648 0 6,360 3,000 1,000 1,000 1,000 1,000 1,000 2,000 1,000 1,000 3,000 1,500 3,000 3,000 1,000 1,000 2,000 1,500 750 0 750 0 1,500 1,500 750 0 750 0 24,508 16,500 2024 2023 (restated) £ £ 63,365 46,447 63,365 46,447	49,061 44,965
		49,061 44,965
Grant gifts to Institutions (Mission partners) Hope for Justice LIV Village Mission CPAS SIM International – Stretton Down Worcester Street Pastors Maggs Day Centre Worcester Chapel House Ministry Tearfund Fusion Adventure Plus Wycliffe UK Mission Aviation Fellowship International Justice Mission Latin Link Grant gifts to Individuals totalled Giving to Charities (Foodbank partner)
Citizens Advice Worcester And Herefordshire

Page 40

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 14 – Employees & Staff Costs 2024

Number of Employees: the average number of employees during the year 2024 was 12 (2023: 11)

Employee payments – Salaries

No employees are in receipt of remuneration in excess of £60,000. (2023 – None)

Employment costs	2024 2023 (restated) £ £
Gross wages & salaries Employer NI costs Employer pension costs Totals	187,976 182,307 7,773 5,776 7,462 7,117
	203,211 195,200

Key management personnel remunerations

During the year total remuneration, including employer pension and national insurance costs, paid to key management personnel totalled £nil for 0 employees (2023 - £nil for 0 employees).

Note : Members of Standing Committee are clergy and volunteers. The key management personnel are clergy. None are employees of the charity.

Key management personnel remunerations	2024 2023 (restated) £ £
Total Number of Key management personnel in total	0 0
	3 2

Refer to Note 16 for disclosure of re-imbursed clergy expenses in the course of ministry activities in the year. Refer to Note 17 for disclosure of related party transactions.

Note 15 – Financial commitments – Lease Agreements

At the year-end balance sheet date, the charity had remaining commitments under operating leases as follows:

	2024 2023 £ £
Within one year Between one and five years	31,683 31,683 18,553 50,236
	50,236 81,919

Rent paid under operating leases in the year totalled £31,639 (2023 - £31,315).

Page 41

THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 16 - Payments to Trustees

During the year no payments of salary or benefits were made to Trustees. (2023 - £ Nil)

No Trustees received re-imbursed expenses in the course of their Trustee and governance duties.

Trustees received the following re-imbursed expenses in the course of ministry activities in the year.

Trustee expenses re-imbursed	2024 2023 (restated) £ £
Travel, accommodation, subsistence, hospitality, etc. Reimbursement of ministry expenses Total Number of trustees reimbursed expenses	2,890 2,722 7,217 3,543
	10,107 6,265
	8 7

Note 17 - Related Party Transactions

Grahame Lucas, Church Treasurer (until 22/04/24) is also a Trustee and Treasurer to Chapel House Ministries. Gill Lucas a member of the PCC is also a Trustee to Chapel House Ministries. During 2024 the PCC donated a grant of £3,000 (2023 - £1,000) to Chapel House Ministries. Mr Lucas took no part in any discussions or decision making relating to this grant award.

The Vicar’s spouse, Kath Johnson is employed by International Justice Mission (IJM). During 2024 the PCC donated a grant of £1,500 (2023 - £1,500) to IJM. The Vicar, Rich Johnson, took no part in any discussions or decision making relating to this grant award.

Rev’d Fraser Oates, member of the PCC (until 15[th] July 2024), is married to one of the charity’s employees, Jo Oates, the Community Youth Missioner (formerly Youth Worker). Rev’d Oates took no part in any discussions or decisions relating to these roles.

Rev’d Fraser Oates, member of the PCC (until 15[th] July 2024), moved to the role of Vicar at St Stephens, Redditch. A collection from the congregation totalling £2,000 was collected by the charity as agent of the congregation and gifted to Rev’d Oates. Rev’d Oates took no part in any discussions or decisions relating to this gift.

Rev’d James Ellin received a cash gift of £500 (2023 - £nil) in recognition of his additional contribution at the New Wine conference. Rev’d Ellin took no part in any discussions or decisions relating to this gift.

In the year to 31[st] December 2024, Trustees made total donations to the charity’s unrestricted funds of £33,225 (2023 - £ 33,508).

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 18 - Gifts in Kind & Donated Stock

In accordance with accepted accounting practice and the PCC’s Accounting Policies - see Note 1i – Gifts in Kind.

Volunteers: given the absence of a reliable measurement basis, the contribution of the time given by general volunteers is not accounted for in the accounts. Volunteers are the backbone of the Mission and Ministry of All Saints Church, and the Annual Review sets this out and expresses our thanks for these gifts of time and talent. Charitable activities typically involve 144 volunteers across various church and community activities. The Foodbank is staffed by 90 volunteers and local companies and organisations also donate staff time to Foodbank.

Donations to Foodbank: Gifts in kind include food & toiletries, services, equipment, and materials from individuals, churches, local companies, and organisations.

Stock

Food and other goods that have been donated to the charity for distribution but held in storage as at the year end date are valued on an average cost price per kilogram which is the most efficient method. Trussell Trust advise that this is most appropriately calculated as £2.77 per kilogram for 2024. (Increased from £2.37 per kilogram in 2023).

In 2024, Foodbank received Food, toiletries, and household cleaning products donated by people and organisations, weighing 78,064 kg (108,659 Kg in 2023). The value of donated goods stock, income and donated stock distributed in 2024 is accounted for in the accounts and is as follows:

Donated Goods Stock Foodbank	Weight of goods Value of goods 2024 Totals 2023 Totals (restated) KG £ £ £
At 1st January 2024 value £2.37 /kg Income Donated goods @ £2.77 /kg At 31st December 2024 value £2.77 /kg Stock value Movement in 2024	18,972 44,965 44,965 53,268 78,064 216,237 216,237 257,525
	17,712 49,061 49,061 44,965
	79,324 212,141 212,141 265,828

Note 19 – Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. The charity is not registered for VAT.

Note 20 - Government Grant Income

The following Government grants were received by the charity for Foodbank in the year to 31[st] December.

Fund Grantor	2024 2023 (restated) £ £
Foodbank Worcester City Council - Household Support Fund - towards food for those in crisis (no attached conditions) Total	124,667 60,515
	124,667 60,515

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 21 - Comparative statement of financial activities (restated)

Incoming from: Voluntary Income Activities for generating funds Investment income Charitable activities Other Total income Expenditure on: Cost of generating voluntary income Charitable activities Governance costs Total expenditure Net income (expenditure) before transfers Transfers Gains/(losses) on revaluation of fixed assets Net movement in funds Total funds brought forward Total funds carried forward	Unrestricted Funds Designated Funds Restricted Funds £ £ £ 310,088 6,975 1,435,966 4,003 1,075 2,586 4,610 0 0 25,550 0 0 0 1,986 0	Designated Funds £	Restricted Funds £	Total Funds 2023 £
				1,753,029 7,664 4,610 25,550 1,986
	344,251 10,036 1,438,552 3,831 0 1,541 221,565 12,878 1,405,702 2,584 0 21,116			1,792,839 5,372 1,640,145 23,700
	227,980 12,878 1,428,359			1,669,217
	116,271 -2,842 10,193 -10,878 6,392 4,486			123,622 0
	77 0 0 105,470 3,550 14,679			77 123,699
	-96,613 20,504 792,347			716,238
	8,857 24,054 807,026			839,937

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Note 22 – Restated Prior Year Accounts 2023 and adjustments

Notes	Restated Amount Originally Stated Difference £ £ £
Income from Voluntary income 3, 4, 10, 12 & 13 Activities for generating funds 13 Investment income Incoming resources from charitable activities 12 Other incoming resources 12 & 13 Total income Expenditure on Cost of generating voluntary income Charitable activities 2, 3, 5, 8, 13 & 14 Governance costs 14 Total expenditure Net income / (expenditure) resources Gains/losses on investment assets Net movement in funds Reconciliation of funds Fund balances at 1st January 2023 3, 5 & 9 Fund balances at 31st December 2023	1,753,029 1,471,797 -281,232 7,664 6,098 -1,566 4,610 4,610 - 25,550 650 -24,900 1,986 18,783 16,797
	1,792,839 1,501,938 -290,901
	5,372 5,372 - 1,640,145 1,374,046 -266,099 23,700 32,023 8,323
	1,669,217 1,411,441 - 257,776
	123,622 90,497 - 33,125 77 77 -
	123,699 90,574 -33,125
	716,238 657,869 -58,369
	839,937 748,443 -91,494

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Notes	Originally stated Restated amount £ £	Difference £
Fixed assets Tangible Assets 1 & 2 Investments Current assets Stocks And Work In Progress 3 Debtors 1, 4, 5 & 6 Current asset investments 7 Cash At Bank And In Hand 6, 7 & 8 Liabilities Creditors: Amounts Falling Due In One Year 9 & 10 Total net assets less liabilities Represented by Unrestricted Funds 2, 4, 5, 8, 9 & 11 Designated Funds Restricted Funds 3, 4, 5, 9, 10 & 11 Totals Funds	37,140 34,668 1,267 1,267 - 44,965 29,421 95,503 670,200 - 29,722 697,265 -19,307 -33,731	-2,472 - 44,965 66,082 -670,200 667,543 -14,424
	748,443 839,937	91,494
	18,725 8,857 24,054 24,054 705,664 807,026	-9,868 - 101,362
	748,443 839,937	91,494

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THE PCC OF THE PARISH OF ST NICHOLAS & ALL SAINTS WORCESTER - YEAR ENDED 31[st] DECEMBER 2024

Notes in regard to prior year adjustments

1. Rent deposit of £4,167 was originally miscategorised as a tangible fixed asset rather than as a debtor due after more than one year.

2. Additions to tangible fixed assets in 2023 totalling £2,825 was originally included in expenditure. Additional depreciation of £1,130 should have been charged in 2023 as a result.

3. There has been a change in accounting policy regarding the measurement of the fair value of gifts in kind regarding food donations and related year end stock. The current accounting policy is to use the Trussell Trust published average price per kg for food parcels in conjunction with measurements by weight of total food held at the foodbank. The previous accounting policy was to not recognise the fair value of gifts in kind regarding food donations on the basis that the fair value of donated goods could not be reliably measured. The comparatives have been restated in line with this change in accounting policy. Closing stock of £44,965, opening stock of £53,268, income from donated food of £257,525 and expenditure of food of £265,828 has been recognised as a result of this change in accounting policy.

4. Debtors were originally understated in regard to accruable grant and donation income relating to 2023 but received in 2024 totalling £41,118 not being provided for.

5. Debtors were originally understated in regard to prepayments totalling £18,072 not being recognised. Opening prepayments totalling £12,288 was also not previously provided

6. Accrued income of £2,725 was originally miscategorised as petty cash within cash in hand and at bank instead of as debtors

7. Cash held either in instant access bank deposit accounts or in cash equivalent accounts totalling £670,200 were originally treated as current asset investments rather than as cash equivalents included within cash at hand and in bank.

8. Credit card liabilities totalling £68 was originally both miscategorised as cash in hand and at bank rather than as a creditor and also misstated by £69

9. Creditors were originally understated in regard to holiday pay accrual totalling £7,187 was originally not being recognised. Opening holiday accruals totalling £7,187 was also not previously provided.

10. Creditors were originally understated in regard to refund of overpayments of grant income paid to the charity by the fund providers in error totalling £7,237 not being recognised

11. Following a restatement of the comparatives for the above issues, the comparatives have been further amended to include a prior year transfer of funds from unrestricted funds to various individual restricted funds totalling £18,185 in regard to restricted fund expenditure in excess of available relating restricted fund income received to date (following restatement) to be covered by unrestricted funds.

12. The comparatives have been amended in regard to income from the New Wine Trust contract being reallocated from voluntary income and other income to incoming resources from charitable activities.

13. The comparatives have been amended in regard to other incoming resources being reanalysed out to voluntary income, activities for generating funds and expenditure on charitable activities (in regard to supplier refunds).

14. The comparatives have been amended in regard to some governance costs being reallocated to expenditure on charitable activities.

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