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2023-12-31-accounts

HEDNESFORD PAROCHIAL CHURCH COUNCIL Deanery of Rugeley Diocese of Lichfield

Annual Reports & Financial Statements - Year ended 31 December 2023

Contents

Contents
Page
Annual reports 1 - 6
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9 - 10
Notes to the Accounts 11 - 16
.Incumbent
Reverend Paul Kelly
The Vicarage
Church Hill
Hednesford
Staffordshire
WS12 1BD

Bank Independent Examiner Lloyds Bank Plc Alan W Durose 3 Market Place Wynniatt-Husey Limited Cannock The Old Coach House Staffordshire Horsefair WS11 1BD Rugeley Staffordshire WS15 2EL

Registered Charity Number 1128668

Hednesford Parochial Church Council

Annual Reports

Year ended 31 December 2023

Trustees

The following people served as Trustees and members of the PCC during 2023

Rev'd Paul Kelly (Chairman) Caron Thomas (Reader) William Cooper (Treasurer) Graham Martin (Church Warden) Kathryn Kelly Emma Cardinal (Reader) Granville Henderson Tina Henderson

Rev'd Ann Kelly (Associate Minister) Bryn Wellings (Reader) Jane Lane (Deanery Synod rep.) Julie Richards (Church Warden) Sharon Jagger Jane Martin (Secretary) Sally Jenkins Bob Maxfield

Objectives and Activities

The PCC is committed to enabling as many people as possible to worship at our churches and to become part of our parish community. The PCC maintains an overview of worship throughout the parish and makes suggestions on how services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament. This work is summarised in the words of our Parish Mission Statement:

The family of Hednesford Parish love and worship God as they care for each other and the community and actively seek to bring others to know Jesus Christ.

To facilitate this work it is important that we maintain the fabric of the Parish Church of St Peter its Church Hall Complex and Churchyard together with the district church of St Saviour and be responsible for the financial management of the whole Parish.

Parochial Church Council Meetings took place as follows:

Page 1 

o

Warden’s Report

The Churchyard Group have met occasionally in the past year. We have been indebted to Trevor Saunders working with Sally Saunders throughout 2023, who has not only managed the financial aspects of the churchyard providing relevant and up to date information, but also co-ordinated maintenance work and kept an eye on the physical state of the Church Yard through frequent visits.

Sharon Jagger has also kindly joined this group. Overall the Churchyard just pays its way. There is continuing concern regarding statues and memorabilia which have inappropriately been added to graves and we were suffering with badgers who like to dig up the turf around the graves being pleased to report the badgers have now moved to new territory and their disruption has ceased..

The Church Hall Group has met occasionally during the year. Eunice Haycock has worked tirelessly to maintain the bookings and functioning of the Church Hall virtually on her own and we are very grateful to her.

The retained window cleaner and cleaner continue to work to a good standard and save us doing the work voluntarily. We remind members that having this done for us relies on the additional cost being provided from the generosity of the congregation.

During 2023 the following were completed:

Replacement Church chairs (most of the cost being met from a generous legacy received). Replacement lounge chairs ( contribution towards cost Received from Town Council)

.

Page 2

All old furniture has been disposed of and the old photocopier has gone to a new home. Comprehensive PAT testing has again been completed.

The annual testing of the fire safety equipment took place.

A major section of the church driveway was repaired eliminating potholes and the car park was re-lined and mobility access parking defined.

Ongoing into 2024 are the following:

Church heating system upgrade progresses slowly expected to be completd by 4 April 2024.

The external double doors to the Hall will need replacing in the near future. Some work will need to be done on the Church globe light fittings.

Replacement of the Notice board [for which we have another generous legacy] should take place this year.

Page 3

Incumbent’s Report

WORSHIP

It has been good in 2023 to Worship God in our Services. Our Sunday services continue in our pattern of Worship: 9.30 a.m. Traditional Worship (Communion & Service of the Word) 11 a.m. Contemporary Family All Age Worship with occasional Communion, Baptism (twice a Month) and Worship & Prayer Activities. This Service began in September 2021. This Service has now been renamed ‘ENCOUNTER’ and has seen growth during this period. Our Wednesday ‘Open Church’ from 10 a.m. to 12 Noon with an 11 a.m. Communion continues to grow, we also give opportunity for FOODBANK donations to be received.

We have enjoyed worship during special times in our Church Calendar during the Church Seasons of Lent & Holy Week, Easter, Ascension, Pentecost, Advent & Christmas and at Harvest & Remembrance we also hosted the CIVIC SERVICE this year as well as the CIVIC Carol Service. PASTORAL MINISTRY / OCCASIONAL OFFICES

Pastoral Ministry Teams led by Bryn Wellings with Claire Standley and Eunice Haycock with Caron Thomas. It has been good to be able to go out into homes with Communion. Funerals continued to be held in Church and at Crematorium.

Weddings in 2023 were few in number and this continues to be a trend in many churches at this time.

We have held Baptism Preparation Evenings, thank you to Kathryn & Emma who have been the team on duty for these. Baptisms take place within our new 11 a.m. Service twice a month, and families have attended church on 4 occasions leading up to the Baptism.

At the moment we have not recommenced services in Nursing Homes, this has been due to lack of people who are available to help in this ministry.

SOCIAL & FUNDRAISING

During 2023 we were able to have fund raising events throughout the year, including two Church Fairs.

Other fund raising activities took place, including regular Coffee Mornings.

I would like to thank Kathryn Kelly for her oversight of the Social and Fundraising in our church, but thank you to everyone who has taken part and organised different events.

ST. PETER’S Church of England Academy School

It has been good to have the children from our Church School in Church on a regular basis and we have welcomed a different year group (60 children) each Tuesday at 10.10 a.m. as well as the occasional year group visits. We also were able to recommence Year Presentations at special times: Easter, Harvest and Christmas including the whole school and parents and families. We had our first School Communion since Covid restrictions and this was the first time for all of the pupils and some of the staff, after four years.

The Year 6 Leavers Service came back into Church in 2023, the first time since 2019, it was good to give thanks for the experience that Year 6 have had through their time at St. Peter’s Primary Academy even during difficult times during the Pandemic.

The School Steel Pan Band also took part in the Carol Concert at the Hednesford Town Football Club.

The school had a display at our Light Festival in the Church during Advent and people were very impressed by their display about Light Festivals in different religions.

We also recommenced Foundation Governor Meetings.

CONGREGATION

Our congregational numbers have not returned to pre-pandemic times, but we continue to welcome new people into church, there is still slow growth in numbers.

Our 11 a.m. Service continues to grow, but patterns of attendance can vary from week to week. Positive feedback from Baptism congregations include comments about how much church has changed and ‘I didn’t know church could be like this!’ The comments have been positive.

We are aware that the majority of our Congregation are getting older and this means that less Page 4

people are able to serve in various ways as they have done in the past in our Church life. We need as a Church to encourage younger people and families to be a part of our regular congregation and to bring their giftings with them.

CHURCH HALL

Thank you to Eunice who continued to look after the Hall during 2023. Class One Dance Academy have continued as our main user, but we have also had The Towns Women’s Guild, Mix & Mingle. The Men’s Group (Hednesford Old Boys) and Rainbows & Brownies.

HEDNESFORD CHURCHES TOGETHER

It has been good to be able to meet together as Ministers during 2023 and we were also able to hold our Good Friday Walk of Witness. Other times of sharing included Week of Prayer for Christian Unity, Lent group meetings etc.

COMMUNITY

We held a Remembrance Sunday Service followed by a Parade to the War Memorial and through the town to the Soldiers Club.

I was also able to lead the Hednesford Town Football Club Christmas Carol Concert at Keys Park, this included St. Peter’s Academy School ‘Steel Pan Band’ and Class One Dance Academy who sang and danced.

We continued to support the Cannock and District Foodbank with collections of food and supplies Our Mix & Mingle group continues to grow and is a place for those who are seeking company and friendship.

We also had two CIVIC SERVICES in our church which were well attended and had positive feedback from Local, District and County Councillors and the Deputy Lord Lieutenant of Staffordshire.

SHAPING FOR MISSION

OUR PARISH PLAN FROM 2021 WITH COMMENTS:

Below is the Outline of our Hednesford Parish Plan:

1.What is your vision/plan for building/strengthening relationships with your local community? In line with the Church of England we are looking at a vision to be a SIMPLER, HUMBLER and BOLDER CHURCH and to engage in partnerships to reach out to our community.

  1. GROWING A YOUNGER CHURCH – looking at ministry to families, children and youth. Developing a new 11 a.m. service which is family and child friendly. Beginning separate Children and Youth groups.

We continue to develop our 11 a.m. Service and we are slowly seeing growth in numbers, these services also have activities available for children. MESSY CHURCH - although we did not have messy church happening on a regular basis we did hold some Easter Craft Days with volunteers from the church. This is an area which needs to be developed. We also had a visit from the Puppets to our 11 a.m. service.

  1. GROWING A SHARING CHURCH – enabling sharing our faith through words and deeds. Reaching out to our community. Being actively involved in the already developing Hednesford Churches Together. Encouraging the Brownie group who have recently moved into our church Hall.

  2. We continue to invite the Brownies to special times in our Church calendar and welcome them and other young people organisations to our Remembrance service. This is something that we need to work on in this next year.

  3. GROWING A CARING CHURCH - Strengthening our work with the Foodbank, continuing to develop our ‘Mix & Mingle’ group for senior citizens who may be lonely. Continuing our journey in becoming a Dementia friendly church & a Place of Welcome. Our Mix & Mingle Group has seen growth in numbers, and the programme has been developed by Jane Martin to include Craft and Painting sessions. We are continuing to work toward Dementia friendly Church and Place of Welcome Status.

  4. Foodbank donations are still being supported by our congregation. Page 5

  5. GROWING A PRAYING CHURCH - To strengthen the work of our prayer group and to expand into less formal prayer ministry, forming prayer bubbles / partners and chains. We have continued to meet as Prayer Group every month. More developments in Prayer ministry need to be explored.

  6. GROWING A DEEPER CHURCH – through teaching, prayer and Bible study groups and through running courses including Alpha / Christianity Explored etc. We have met for Lent groups and Advent. We are looking to recommence Home Group Studies in 2024.

During 2023 we have moved our Parish Plan forward and we have joined with Churches within our Deanery with special speakers and shared resources. More developments will be happening in 2024.

FINANCE

I would like to thank everyone who has continued to give financially toward the mission of St. Peter’s Church in the Parish of Hednesford during 2023.

We were in a difficult position during 2023 and were headed toward more deficit in relation to our Common Fund (Parish Share). The PCC had to take action in order to pay off our arrears and we used funds from the sale of St. Saviour’s Church to offset the deficit. We have paid our Parish Share in 2023, but we are aware that 2024 will see us unable to pay our full Parish Share without some significant increase in our income, through giving and through fees and fund raising, we also need to look at ways to cut back on our expenditure.

So I would ask you once again to look at raising your giving in light of the increased costs faced by our church during a very difficult financial time for everyone.

Because no one has come forward to take on the Treasurer’s role in our Parish, the PCC have had to arrange for a paid Book-Keeping Service to keep our accounts for us, this does mean that more money is needed to pay for this service, please be aware of this when you review your own personal giving to the Church.

Thank you for your giving during 2023, please continue to give toward the ministry of our church in the community of Hednesford.

As we move forward as a Church we acknowledge that we will face challenges, but we need to claim the promises of God for us and we need to give thanks for the ways in which he has cared for us in the past. The Lord is our Shepherd, he has and will continue to care for us to lead us and to provide for us.

Please continue to PRAY & ACT in the name of our Lord Jesus Christ and to the Glory of God.

Page 6

Independent Examiner’s Report to the Parochial Church Council of Hednesford

St Peter's Parish Church

I report on the accounts for the year ended 31 December 2023 which are set out on pages 8 to16.

. Respective responsibilities of the Trustees and Independent Examiner

As trustees and members of the PCC you are responsible for the preparation of the financial statements and consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

. Basis of Independent Examiner’s Statement

My examination was carried out in accordance with the General Directions given by the Charity Commission.

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in full audit, and consequently I do not express an audit opinion on the accounts.

Independent Examiner’s Statement

In connection with my examination, no matters have come to my attention:

1) which give me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with s.130 of the 2011Act; or

to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Alan W Durose, Wynniatt-Husey Limited Wynniatt-Husey Limited The Old Coach House, Horsefair, Rugeley, Staffordshire. WS15 2EL 19 March 2024

Page 7

Hednesford Parochial Church Council – 1128668

Statement of Financial Activities

For the period from 01 January 2023 to 31 December 2023

Unrestricted Restricted Endowment Restricted Endowment Total Prior year
Funds Funds Funds Funds total funds
Income and endowments from:
Donations and legacies 70,213.62 — — 70,213.62 53,459.25
Income from charitable activities 25,753.51 — — 25,753.51 33,350.75
Other trading activities 3,607.64 — — 3,607.64 3,203.22
Investments 3,986.16 176.66 — 4,162.82 1,148.82
Other income — — — — —
Total income and endowments from: 103,560.93 176.66 — 103,737.59 91,162.04
Expenditure on:
Raising funds — — — — 116.25
Expenditure on charitable activities 116,977.09 — — 116,977.09 111,413.66
Total expenditure on: 116,977.09 — — 116,977.09 111,529.91
Net income / (expenditure) (13,416.16) 176.66 — (13,239.50) (20,367.87)
Transfers
Gross transfers between funds - in 15,606.40 — — 15,606.40 7,600.00
Gross transfers between funds - out (14,237.50) (1,368.90) — (15,606.40) (7,600.00)
Net income / (expenditure) (12,047.26) (1,192.24) — (13,239.50) (20,367.87)
Other recognised gains / losses
Gains / losses on investment assets — — — — —
Gains on revaluation, fixed assets, charity's own use — — — — —
Net movement in funds (12,047.26) (1,192.24) — (13,239.50) (20,367.87)
Reconciliation of funds
Total funds brought forward 658,889.50 5,120.59 — 664,010.09 684,377.96
Total funds carried forward 646,842.24 3,928.35 — 650,770.59 664,010.09

Page 8

Hednesford Parochial Church Council Balance Sheet as at 31 December 2023

31/12/2023 31/12/2022

Fixed assets

Current assets

Liabilities

Reserves

6430: Halls
6431: Printer and copier
6432: Sound system
6433: Hymn Books purchased (St P)
6434: Hymn book trolley (St P)
6435: Audio Visual System
6436: Fire Proof Safe
Total Fixed assets
6501: P C C current account
6502: 32 Day Deposit account
6505: Parish Churchyard bank account
6510: CCLA (CBF) deposit account
6515: St Peters church hall bank
6590: Cash in hand
Z05: Accounts Receivable
Total Current assets
6601: Creditors
6699: Agency collections
Z04: Accounts Payable
ZO6: Creditors falling due after 1 year
Total Liabilities
Net Asset surplus (deficit)
Excess / (deficit) to date
Z01: Starting balances
Z02: Other gains/(losses)
Total Reserves		 550,000.00
550,000.00
—
—
—
—
—
—
—
—
—
—
—
—
550,000.00
550,000.00
1,151.36
2,470.80
65,547.68
113,783.87
2,743.70
5,966.76
29,634.28
41,773.53
1,883.17
1,454.07
—
—
—
—
100,960.19
165,449.03
189.60
51,438.94
—
—
—
—
—
—
189.60
51,438.94
650,770.59
664,010.09
(13,239.50)
(20,367.87)
664,010.09
684,377.96
—
—
650,770.59
664,010.09

Page 9

----- Start of picture text -----
Represented by Funds
Unrestricted 621,936.31 622,736.56
Designated 24,905.93 36,152.94
Restricted 3,928.35 5,120.59
Endowment — —
Total 650,770.59 664,010.09
----- End of picture text -----

Approved by the Parochial Church Council on 21 March 2024 and signed on its behalf by :

Reverend Paul Kelly (PCC Chairman) Paul Kelly

The notes on pages 9 to14 form part of these accounts.

Page 10

Hednesford Parochial Church Council – 1128668

Analysis of Income and Expenditure For the period 01 January 2023 to 31 December 2023

Total Total

Unrestricted Designated Restricted Endowment This year Last year

Income and endowments

Donations and legacies

0101 - Gift Aid - Bank 9,530.00 — — — 9,530.00 9,010.00
0110 - Gift Aid - Envelopes 5,808.40 — — — 5,808.40 5,310.00
0201 - Other planned giving 4,553.70 — — — 4,553.70 6,635.62
0301 - Loose plate collections 6,033.85 — — — 6,033.85 6,930.30
0401 - Regular gift days — — — — — —
0410 - Giving through church boxes 69.00 — — — 69.00 —
0501 - One-off Gift Aid gifts — — — — — —
0510 - Gifts of quoted securities — — — — — —
0550 - Donations appeals etc 7,004.61 — — — 7,004.61 3,387.62
0601 - Tax recoverable on Gift Aid 5,214.06 — — — 5,214.06 5,515.71
0701 - Legacies 25,000.00 — — — 25,000.00 5,000.00
0801 - Recurring grants — — — — — —
08A1 - Non-recurring one-off grants 1,500.00 — — — 1,500.00 950.00
0901 - Other funds generated 5,500.00 — — — 5,500.00 10,720.00
0905 - C L & C G Brigade income — — — — — —
0906 - Junior Church income — — — — — —
Donations and legacies Totals 70,213.62 — — — 70,213.62 53,459.25
Income from charitable activities
1101 - Fees for weddings and funerals 14,393.25 — — — 14,393.25 23,807.75
1102 - Fees Remembrance book 49.50 — — — 49.50 —
1210 - Bookstall sales to promote — — — — — —
objectives
1230 - Church hall lettings - objectives 11,310.76 — — — 11,310.76 9,543.00
Income from charitable activities 25,753.51 — — — 25,753.51 33,350.75
Totals
Other trading activities
0910 - Fund raising 3,607.64 — — — 3,607.64 3,203.22
1220 - Bookstall sales - fund raising — — — — — —
1240 - Church hall lettings - fund raising — — — — — —
1250 - Magazine income - advertising — — — — — —
1260 - Parish magazine sales — — — — — —
Other trading activities Totals 3,607.64 — — — 3,607.64 3,203.22
Investments
1001 - Dividends — — — — — —
1020 - Bank and building society 2,536.24 1,449.92 176.66 — 4,162.82 1,148.82
interest
1030 - Rent from lands or buildings — — — — — —
Investments Totals 2,536.24 1,449.92 176.66 — 4,162.82 1,148.82
Other income
1310 - Insurance claims — — — — — —
1320 - Surplus - sales of fixed assets — — — — — —

ther income Totals

— — — —

—

Page 11

Income and endowments Grand totals

102,111.01

1,449.92

176.66

103,737.59 91,162.04

—

Expenditure

Raising funds
1710 - Costs of applying for grants — — — — — —
1720 - Costs of stewardship campaign — — — — — —
1730 - Costs of fetes & other events — — — — — 116.25
1740 - Investment management costs — — — — — —
Raising funds Totals — — — — — 116.25
Expenditure on charitable activities
1801 - Giving to missionary societies 300.00 — — — 300.00 300.00
1830 - Giving - relief and development — — — — — —
agencies
1850 - Home mission — — — — — —
1870 - Secular charities 984.50 — — — 984.50 1,726.60
1901 - Stipends quota — — — — — —
1910 - Ministry parish share etc 40,649.00 — — — 40,649.00 64,900.00
2001 - Assistant staff costs — — — — — —
2050 - Salary of parish administrator — — — — — —
2101 - Working expenses of incumbent 409.04 — — — 409.04 162.14
2120 - Council tax — — — — — —
2130 - Vicarage expenses 367.79 — — — 367.79 329.00
2140 - Water rates - vicarage — — — — — —
2145 - Parsonage - water — — — — — —
2150 - Vicar's telephone 453.50 — — — 453.50 542.40
2170 - Education — — — — — —
2175 - Pebbles and Creche 56.30 — — — 56.30 —
2201 - Parish training and mission — — — — — —
2202 - Green Heath Community Church — — — — — —
2301 - Church running - insurance 992.08 — — — 992.08 917.39
2310 - Church - internet 609.69 — — — 609.69 313.03
2320 - Organ / piano tuning — — — — — —
2325 - Organist and Verger costs 1,500.00 — — — 1,500.00 1,500.00
2330 - Church maintenance 33,192.53 — — — 33,192.53 2,858.02
2331 - Cleaning 10.00 — — — 10.00 —
2340 - Upkeep of services 538.90 — — — 538.90 585.43
2345 - Choir and Brigade support costs 1,365.83 — — — 1,365.83 —
2350 - Upkeep of churchyard 13,869.31 — — — 13,869.31 16,374.42
2359 - Printer Lease Rental 1,688.88 — — — 1,688.88 1,841.64
2360 - Administration 1,843.96 — — — 1,843.96 1,720.81
2361 - Postage and stationery 116.11 — — — 116.11 213.32
2362 - Depreciation — — — — — —
2370 - Refreshments/Flowers/Gifts 827.07 — — — 827.07 625.56
2401 - Church running - electric 763.57 — — — 763.57 733.23
2410 - Church running - gas 2,622.29 — — — 2,622.29 1,414.53
2420 - Church running - water 226.00 — — — 226.00 235.98
2430 - Church running - oil — — — — — —
2440 - Church running - St Saviour — — — — — —
(closed)
2501 - Magazine expenses — — — — — —
2510 - Bookstall costs — — — — — —
2520 - Hall running - oil — — — — — —
2530 - Hall running - electricity 2,280.84 — — — 2,280.84 3,452.35
2540 - Hall running - gas 1,705.94 — — — 1,705.94 880.96
2550 - Hall running - insurance 876.00 — — — 876.00 876.00

Page 12

2560 - Hall running - maintenance 8,647.96 — — — 8,647.96 8,830.85
2570 - Hall running - administration — — — — — —
2580 - Hall running - water — — — — — —
2590 - Hall running - heating and — — — — — —
lighting
2601 - Governance costs 80.00 — — — 80.00 80.00
examination/audit fee
2701 - Church major repairs - structure — — — — — —
2710 - Church major repairs - — — — — — —
installation
2720 - Church interior and exterior — — — — — —
decorating
2801 - Hall + major repairs - structure — — — — — —
2820 - Hall + major repairs - installation — — — — — —
2830 - Hall + interior and exterior — — — — — —
decorating
2840 - Other PCC property upkeep — — — — — —
2901 - New building parsonage house — — — — — —
2910 - New building house for curate — — — — — —
2915 - New Churchyard costs — — — — — —
2920 - New building Church — — — — — —
2930 - New building Hall — — — — — —
Expenditure on charitable 116,977.09 — — — 116,977.09 111,413.66
activities Totals
Expenditure Grand totals 116,977.09 — — — 116,977.09 111,529.91

Page 13

Hednesford Parochial Church Council

Notes to the Financial Statements

Year ended 31 December 2023

. Accounting Policies

The financial statements have been prepared in accordance with the Statement of Recommended Practice or Charities (SORP 2015) together with applicable accounting standards (FRSSE) or (FRS 102).

The financial statements have been prepared under the historical cost convention. The financial statements 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 tax recoverable on gift aid is only recorded when received from the Inland Revenue.

.Fixed Assets

Consecrated and benefice property is excluded from the accounts by s.10(2)(a)&(C) of the Charities Act 2011.

Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the Church's inventory, which can be inspected (at any reasonable time). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements.

Tangible fixed assets Tangible fixed assets Church
Equipment
£.p
Actual cost 1 January 2023 15,087.81
Additions -
Disposals -
at 31 December 2023 15,087.81
Depreciation at 1 January 2023 15,087.81
Charge for the year (at 20% straight line) -
Relating to disposals -
at 31 December 2023 15,087.81
Net book value at 31 December 2023 £ 0.00
at 31 December 2022 £ 0.00

.Description of Funds

Restricted funds comprise of two elements:-

a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest

b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment interest is apportioned to individual funds on an average balance basis.

Page 14

Hednesford Parochial Church Council

Notes to the Financial Statements (continued)

Year ended 31 December 2023

Unrestricted funds are income funds which are to be spent on the PCC's general purpose.

Incoming Resources

Planned giving, collections and donations are recognised when received. Grants and Legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross.

Resources Expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross.

Funds Reconciliation - 2023

Reserves Incoming Resources Reserves
1 January Resources Expended 31 December
Unrestricted Funds: 622,236.56 101,204.52 102,304.77 621,136.31
Designated Funds
1) Contingency 18,189.69 1,235.43 10,900.00 8,525.12
2) Junior/St.Peter's 331.01 17.01 348.02
3) Organ 5,332.78 535.41 400.00 5,468.19
4) Churchyard 12,800.22 565.14 2,000.00 11,365.36
Restricted Funds:
1) CL&CG Brigade 1,365.83 1365.83 0.00
2) St Peter's Repair 3,754.00 180.08 6.49 3,927.59
3) Organ 0.00 0.00
4) Churchyard 0.00 0.00
Total Funds 664,010.09 103,737.59 116,977.09 650,770.59

Page 15

Hednesford Parochial Church Council

Notes to the Financial Statements (continued)

Year ended 31 December 2023

Debtors
~~a~~		 2023 2022
~~a~~
~~Ge~~		 £0.00
~~Ge~~		 £0.00
~~Ge~~
~~Ge~~
~~a~~		 £0.00
~~Ge~~		 £0.00
~~Ge~~
~~a~~
~~a~~
Total
~~a~~
~~a~~		 £0.00 £0.00
~~a~~
~~Ge~~		 ~~Ge~~ ~~Ge~~
Creditors
~~a~~
~~a~~
~~a~~
Amounts falling due in one year
~~a~~
~~a~~
Lloyds Bank
~~a~~
~~Ce~~		 £61.01
~~Ce~~		 £0.00
~~Ce~~
Parish Share–Current
~~Ge~~		 £00.00
~~Ge~~		 £50,992.00
~~Ge~~
Rev’d P Kelly Expenses
~~Ge~~		 £128.59
~~Ge~~		 £446.94
~~Ge~~
Short term loan
~~Ge~~
~~a~~		 £0.00
~~Ge~~		 £00.00
~~Ge~~
Total
~~a~~
~~Ge~~		 £189.60
~~Ge~~		 £51,438.94
~~Ge~~
~~Ge~~ ~~Ge~~ ~~Ge~~

Analysis of Net Assets

General
Unrestricted
Funds		 Designated
Funds		 Restricted
Funds		 Total
Fixed Assets £550,000.00 £550,000.00
Current Assets £72,125.91 £24,905.93 £3,928.35 £100,960.19
Current Liabilities £189.60 £189.60
Total £621,936.31 £24,905.93 £3,928.35 £650,770.59

Proceeds from the sale in January 2012 of the church and surrounding land at St. Michael's, Rawnsley are held by Lichfield Diocesan Trust on behalf of the PCC. The balance at 31 December 2022 was £17,099.23 a withdrawal of £5,500 from these funds occurred in 2023 to pay for car park repairs and line marking leaving a balance of £11,599.23 a t 31 December 2023. Interest earned by this deposit is paid to the PCC account quarterly.

Grants given to other Charities during the year totalled £1,284.50 and consist of:

Various small donations £ 56.50

Page 16