## **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|
||office@allsaintsworcester.org.uk|
|**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.
Page 12
**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
Page 13
**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.
Page 14
## **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.
Page 15
##
##
**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)
Page 17
**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|
Page 18
**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)
Page 19
**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)
Page 20
**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**|
Page 21
**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|
Page 22
**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.
Page 23
**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.|
Page 24
**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.
Page 25
**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.
Page 26
**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.
Page 27
**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.
Page 28
**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).
Page 42
**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|
Page 43
**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**|
Page 44
**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|
Page 45
## **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|
Page 46
**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.
Page 47