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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF
BOLDMERE ST MICHAEL’S
Annual Report & Financial Accounts
For The Year end 31[st] December 2023
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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CONTENTS
| Trustees‘ Annual Report ….………………………. | 2 |
|---|---|
| Independent Examiners Report………………... | 12 |
| Statement of Financial Actvites …………….. | 13 |
| Balance Sheet …………………………………………. | 14 |
| Notes to the Accounts……………………………… | 15 |
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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2023 TRUSTEES’ ANNUAL REPORT
Members:
PCC Membership as of December 2023
The PCC membership is made up of: Clergy licensed to the parish (eg. Vicar, curate) Church Wardens (2) Deanery Synod (4) Any Diocesan Synod Members Elected PCC Members (12)
Current Membership is:
Clergy
Rev’d Gary Birchall Rev’d Simon Cocks
Wardens (2)
Peter Swain 2015 – 2024 Pam Baxter – 2023 – 2024
Deanery Synod (4)
Jan Peel 2023 – 2026 (Three vacancies)
PCC (12)
(Four vacancies) Edwina Connell 2019-2025 Treasurer Elaine Riley 2020-2026 Michael David 2020-2026 Hilary Harrison 2020-2026 Margaret Smoldon Pam Baxter 2021-2024 (Now Churchwarden) Mark Williamson 2022 – 2025 Diana Boateng 2023 – 2026 Matthew Lumley 2023 – 2026 Gary Connell 2023-2026
The PCC is also empowered to Co Opt members if required. There is a limit to how many people can be co-opted in proportion to elected members.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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Structure, Governance and Management
Members of the PCC are ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules.
The PCC operates through a number of committees, which meet between full meetings of the PCC and report in to the PCC:
➢ Standing Committee
This is the only committee required by law. It has power to transact the business of the PCC between its meetings subject to any directions given by the Council.
➢ Finance Committee
Oversees the general financial dimension of the work of St Michael’s by monitoring income and expenditure, budgeting and co-ordinating the annual review of the Christian Stewardship of money through planned giving.
➢ Building Working Group
Established to undertake a review of all Church Buildings and Properties to consider financial viability to maintain the properties in a fit for purpose state and achieve the C of E aim to be carbon neutral by 2030
➢ Fabric Committee
To attend to the upkeep and stewardship of the buildings and fabric belonging to the church, church hall, the house in Southam Drive and the flat at Moorfield Court.
➢ Mission Agency Support Committee
To promote awareness of the Gospel, to support and raise funds for mission organisations and mission partners.
➢ Social Committee
To arrange social functions for the benefit of all members of St Michael’s and their friends.
➢ Community Outreach Committee
To extend the work and influence of St Michael’s within the Parish.
Objectives and activities
- ➢ St Michael’s PCC has the responsibility of co-operating with the incumbent, the Rev’d G Birchall, in promoting within the Ecclesiastical Parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the Church of St Michael’s.
➢ Public Benefit
The members of the PCC have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aim and objectives of the PCC and in planning any future activities. In particular, the members have considered how planned activities will contribute to the aims and objectives set.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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➢ Church attendance
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There are 141 (2022: 161) parishioners on the Church Electoral Roll. The usual Church attendance was 67 adults and 10 children under the age of 16. The 10am service was also live streamed via YouTube with an Evening Service at 6pm and an Evening Prayer meeting via Zoom.
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➢ On Easter Sunday 83 people attended Church
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➢ 261 people attended Christmas services across Christmas Eve and Christmas Day.
Report of the activities of St Michael’s Parochial Church Council (PCC) in 2023
This report covers the decisions made by the PCC during 2023 but excludes financial decisions and reports on the buildings that come under the care of St Michael’s PCC, which are included elsewhere in this document.
The PCC met 11 times in 2023 in the South Aisle or in the Upper Room at St Michael’s Church. The meetings are co-chaired by Rev’d Gary Birchall and Lay Chair, Hilary Harrison.
Each meeting begins and ends with prayer, apologies are received, attendance recorded, minutes of the previous meeting received, updated if necessary and accepted. Purposefully the PCC then continues with sharing Good News items to remind ourselves of the things that are observing what God is doing in the life of the church and in our own personal lives. This serves to remind us of the purpose of why we oversee the governance of St Michael’s Church as trustees.
2023 saw significant time given over to Finance, Fabric and decisions regarding the buildings that St Michael’s PCC has care and responsibility for. In this we thank especially Edwina Connell for her financial reports and guidance as treasurer, Peter Swaine for his oversight of the fabric of the buildings, and Mark Edmonds, chair of the Building Working Group, for updates and guidance in the decision making process regarding the buildings under PCC oversight.
All PCC members are to be thanked for their commitment to St Michael’s Church for their time, wisdom, energy and dedication.
Appointments
Following the 2023 APCM, Hilary Harrison was appointed as Lay Chair of the PCC, and Edwina Connell as Treasurer.
Rev’d Simon Cocks was congratulated on becoming Bishop’s Advisor for Self-Supporting Ministry in the Diocese of Birmingham. The PCC were informed that he would be commissioned to this role by Canon Mark Pryce, Director of Ministry.
Sohaib Amini, Soran Yousefi, Soleyman Mousra and Debbie Arkinstall were approved by the PCC to be Communion Assistants.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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Safeguarding
The PCC received a document entitled ‘Safeguarding Update – St Michael’s Parochial Church Council November 2023’. The proposed action plan was to be carried out by Safeguarding Officer Gail Adams, and DBS officer Elaine Riley.
The PCC heard a report from Rev’d Gary Birchall about suspicious items and letters addressed to the vicar being delivered to St Michael’s. One incident led to the calling out of a police fast response team when a dubious package with wires had been received. These incidents were reported to the Diocesan Safeguarding Team.
The PCC committed itself to ensure that anyone counting money after a church event in the Vestry would not be left alone, and that at least two other people would be in attendance, and the team would depart together.
Prayer Streams
The PCC agreed to the holding of a Retreat in Daily Life during Lent for the people of St Michael’s and St Columba’s, Banners Gate. This retreat was led by Manresa Link.
The PCC agreed to the holding of a church retreat at Foxhill Retreat Centre in June.
Both of these retreats were reflected on by the PCC after they had taken place, and both were considered to have been extremely valuable in developing the spiritual life of those who took part.
Outreach and Social Events
The PCC approved plans presented by the Outreach committee to hold a Spring Sunday afternoon Tea and the Easter Garden making session to be part of the Celebrate at 10.00am Service in April.
The PCC agreed to Jan Peel’s proposal to hold a craft fair in St Michael’s Church on 8th July 2023.
The PCC received a list of social events planned for 2024 which were agreed.
Fabric
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The PCC agreed the sale of Moorfield Court.
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The PCC agreed to the small dining room, hall, landing and stairs to be re-decorated in Southam Drive.
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The PCC were informed that the final repair work in the church following flood damage had been completed. This included the repair of tiling in the Female toilets, and the replacement of the carpet tiles in the porch.
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The PCC were informed that all work resulting from the Lightning strike on St Michael’s Church building had been completed.
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The PCC agreed to work being carried out to remove dead branches from the lime trees in the churchyard.
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The PCC were informed that the church cleaner would no longer be cleaning the Church Hall following the sale of the hall. Her hours spent on cleaning the church building were to be increased.
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The PCC agreed to proceed with repair work to the stonework on the bell tower that had been recommended in the Quinquennial, and also to remove the buddleia bush that was growing on the tower.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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Church Hall
The PCC received a report from the Building Working Group outlining the rationale of developing the building of St Michael’s Church to be fit for purpose in the years to come, and to achieve a zero carbon footprint by 2030 in line with the policy of Birmingham Diocese. The presentation also included the rationale for putting the Church Hall on the market for sale. After discussion it was decided to hold a meeting to inform the leaders of Lunch Club, Place of Welcome and Unformed Organisations so that they could receive the same presentation. This meeting took place and at the February PCC meeting the PCC made the decision to task the Building Working Group with carrying out all that was necessary to put the Church Hall up for sale.
The Hall was sold to Little Ripley Children’s Nursery for £1.1 million.
Matt Lumley Reader Training
Matt Lumley spoke about his calling to explore Reader ministry in the Church of England and the PCC unanimously decided to commend Matt for Reader Training. The PCC later heard that Matt had been recommended for training which would begin in September 2023.
Oversight Area with St Columba’s Banners Gate
Rev’d Gary Birchall reported that the Standing Committees of St Michael’s and St Columba’s had met and jointly composed a letter to the Area Dean to request a meeting where a range of questions could be addressed regarding the two churches forming an Oversight Area. Following this, it was hoped that a meeting with the two PCCs could be arranged. A pulpit exchange took place on Sunday 23[rd] April when Rev’d Gary Birchall went to St Columba’s and Rev’d Beccy Allen came to St Michael’s.
Communications Group
The PCC recognised the need for clear communication to take place between PCC, Church, Building Working Group and Community regarding the developments of the Church building. A communications group was established to ensure that this happened. Part of this communication would be a monthly update in the St Michael’s Herald.
Kneelers
The PCC agreed to leave some kneelers in the church pews for use by the congregation, and that those that had been made and dedicated would be made available for people to reclaim. Those that had no dedication would be available to anyone who would like to have a kneeler at home. Ann Grice would be invited to oversee this process.
Churchyard Maintenance
The PCC heard that Rev’d Gary Birchall and Danielle Woolaston received complaints, sometimes quite hostile, about the upkeep of the Churchyard. In response Rev’d Gary Birchall updated the PCC on the programme that was in place for the maintenance of the Churchyard, and that consideration would be given to increasing the visits of Ben’s Garden Services in April, May and June when the growth of the grass was most rapid. The Churchwardens were also investigating better provision of waste collection in the churchyard.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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Welcome
The PCC undertook a review of the welcome received by people at St Michael’s. They recognised that there were many strengths to build on and the PCC committed itself to developing and introducing the following:
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A coat rack and an umbrella stand.
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A blanket box.
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Toy bags for children.
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One to one invitations to services
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PowerPoint slide reminding people about refreshments after the service.
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To have a photo board of office holders so that people could recognise people.
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Development of a Welcome Pack for new attenders.
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Encourage and promote Place of Welcome
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To have a PowerPoint slide that made it clear about receiving communion or a prayer of blessing.
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Highlighting our ‘mission statement’ on the church website.
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To have a map in the church porch indicating where members of the church hailed from.
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To continue to hold bring and share meals after the morning service.
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Develop signage outside the church building so that people know where the church entrance is.
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To have a food store in St Michael’s Church for people to use if in food poverty.
Rev’d Gary Birchall - 14[th] March 2024
Finance
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Parish Giving Scheme 2023: no additions, 3 lost ,14 index linked. Standing Order Giving: no additions,6 lost ,1 reduction.
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Church Hall Sale: £1.1m as at 30[th] June 2023 with associated costs of £26,239.
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Moorfield Drive Sale 14[th] December 2023 at £145,000 with associated costs of £4890.
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BG Electricity 3-year contract agreed.
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PCC approved a transfer of £750 to the Vicarage Decorating Fund.
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PCC approved re-designating the St Michael’s Mission Fund with balance £250,000 as the Building Development Fund with the net sale proceeds of the Church Hall and Moorfield Court to be added to the Fund for the purpose of upgrading and re-ordering the Church Building.
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PCC approved the St Michael’s Financial Control document together with the Funds, Reserves and Investment Policy for a further 12 months at the September meeting.
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Children’s Fund established from £5000 unrestricted legacy.
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Hospitality Provision Fund established following closure of Luncheon Club and transfer of balance from the Luncheon Club bank accounts.
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Legacy and Memorial Fund established to pool small unrestricted legacy and memorial donations.
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Clergy Mobile phone contracts renewed.
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Photocopier contract renewed for 3 years.
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Mission Giving £3,766 allocated as £2000 Church Mission Society, £1000 BDBF Malawi , Banners Gate Counselling Centre £400, Tearfund £216 , GAP Sutton Coldfield £150
Edwina Connell Treasurer
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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Building Group
At the end of 2022, the PCC set up a Building Group (the Group) to review the status of Church buildings and properties but also considering future requirements making recommendations to the PCC on what, if any, proposed action needed to be taken.
Church Hall: A review had taken place in 2022 by a separate committee but some members in common with the Building Group. Major repairs and some upgrading had been made 10 years ago but the building needed further upgrading to make it viable for the future. The cost of these repairs and ongoing maintenance meant that it was unlikely to be financially viable. However, another major consideration was impact to users of the Hall such as the Guides/Brownies, the Luncheon Club and the Place of Welcome and also to the scout group leasing a small piece of land for their separate building.
The PCC concluded, after consultation with Church users of the Hall, that it was prudent to sell the Church Hall, using the proceeds to finance upgrading and possible re-ordering of the Church Building. The PCC approved the sale in January 2023. Burley Browne was appointed as agent and the property was marketed at the suggested valuation of £850,000. Little Ripley Day Nurseries offered £1.1 million pounds. One advantage of this offer was that they indicated that they were happy for the Scouts to continue as at present. In April, the PCC and Birmingham Diocese approved the sale, and completion took place on 30[th] June 2023. Total cost of sales amounted to £ 23,239 giving a net income of £1,074,195.
Moorfield Court: This property was a flat owned by the Church and rented out to provide income stream. There had been on-going issues with damage and repairs required to the property causing an unreasonable amount time and expenditure in managing the property. The group proposed that the flat should be sold, and the proceeds be put towards Church Building upgrading. In March 2023, the PCC agreed to sell the property. A professional valuation £155,000 was initially obtained and Preferential Properties marketed the property in May 2023. By August, the only offer received was for £145,000 and market conditions in general were declining. A further valuation was commissioned and a new valuation of £145,000 was received. The PCC together with Birmingham Diocese agreed to accept the offer. Prolonged legal proceedings resulted in an end of year completion with cost of sale £4891 giving a net balance of £140,109.
Southam Drive: The Group have only undertaken a superficial review of this dual owned property (PCC 61.5% and Epiphany Trust Fund 38.5%) in Southam Drive. At present, there are no tenant issues, and no recommendation made as to it’s future in our portfolio.
Church Building: The building was found to be generally in good condition, and works had regularly been carried out, as needed by the external surveyor undertaking the quinquennial report.
The Group and PCC agreed that the 1[st] priority for the building was to maintain the Church as a place of worship, the 2[nd] priority to move forward to make the Church carbon neutral, noting particularly, the age of the gas boilers and lack of proper insulation and 3[rd] a space for Church Groups and the community to use. It was quickly apparent that the building would not be financially viable without attempting to raise income through other usage.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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The Group prepared some preliminary drawings of what changes might be made to make the building more useable and energy efficient and then consulted with several other parties including Birmingham Diocese, to discuss early proposals and a way forward. Permission to proceed with building changes will require a faculty.
Once sale of the Church Hall was agreed, the Group took steps to form a professional design group. A number of proposals were reviewed, and eventually the Group proposed and appointed the following: Alex Coppock from Communion Architects of Hereford as Architects and Robin Woodger of Engineering Services Design Group, as Building Services adviser. Subsequently David Clarke was appointed as Business Consultant, and Steve Austin as quantity surveyor.
The Group accepted the proposal that Church nave should remain intact, and that no permanent subdivision was desirable which was a change to our original thinking.
All of the groups were commissioned to prepare an initial feasibility study report. Most of these were received before the year end, but some needed amendment and further work. The architects’ preliminary details were received, reviewed, and generally considered were very good for our needs, but without costings which will be available early 2024.
In between time, several other issues have been reviewed by the Group, including planning permission for a proposed car park, application to become a listed building, and review of the graves where the car park might be located.
During the year, a Communications Committee was formed to manage external and internal communication. One main activity was to organize a meeting in the church with potential users and our professional design team.
The Group is made up of Gary Connell, Peter Swaine, Pat Tenant, Peter Edmonds, Matt Lumley and David Underhill. The Communications Committee is made up of Hilary Harrison, Jane Newsome and Barbara Edmonds. Vicar Gary has been an ex-officio member, and we have had constant input from treasurer Edwina. My thanks for all their help and input.
Mark Edmonds . Building Group Chairman
Finance Review
Total unrestricted fund income was £1,264,752 of which £1,100,000 resulted from the sale of the Church Hall. £82,127 was unrestricted voluntary income which consisted of: £68,831 Donations & £13,296 from Gift Aid. Restricted voluntary income of £3,695 was also received and is detailed in the Financial Statements.
Overall voluntary income from unrestricted funds increased by 2% or £1662, however £6000 of income was one-off legacy giving meaning in real terms voluntary planned giving decreased by 4.8% or £4838.
The decision to sell Moorfield Court required the tenant to be provided with notice to vacate at the start of year and therefore rental income decreased by 74% or £6245. Sale of the Church Hall completed on 30th June 2023 gross sale proceeds of £1.1m* were received, less costs of
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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£26,239, which were placed on deposit. Interest earned on funds deposited amounted to £29,333 being a £27,948 increase from 2022.
Church Hall hire income reduced by £6,694 or 44% compared to 2022 because of the Hall sale. Other income reduced by £9,198 because in 2022 an insurance claim was made following a lightning strike.
£183,631 was spent from unrestricted funds on Church activities being an increase of £56,088 however £46,200 was spent of legal and professional fees associated with the sale of the Church Hall, Moorfield Court and initial professional fees incurred for the re-ordering and upgrading of the Church Building. Common fund increased by £3000 or 5.5% and Church Utilities increased by 48.5% to £9,213 although a grant held in restricted funds of £2,767 was utilised in 2023. £9,210 was spent on repairs to the Steeple. Savings of staffing costs of £4,817 were made when the Verger retired in February 2023 and was not replaced but a contract cleaner was employed resulting in an increase in cleaning costs of £2,295.
Hall running costs decreased by £3,771 due to the sale of the Hall mid-year. Churchyard costs increased by £1,392 to £8,605 however during 2023 a tree survey was commissioned by the PCC costing £480 and resulting work costing £880.36
Restricted expenditure in 2023 was £11,577.
Fixed Assets decreased by £150,000 as a result devaluing Moorfield Court by £5000 in line with a new valuation and sale of the property for £145,000.
Investment assets increased in value by £32,177 during in 2023 as a result of markets regaining confidence after the 2022 mini-budget.
The net result is a net increase in funds of £1,068,225 with an increase in unrestricted funds of £ 1,073,149 and a decrease in restricted funds of £4,894.
- In accordance with Charity Commission rules the sale of the Church Hall, being a functional fixed asset, is excluded for the purposes of calculating Gross Income.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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INDEPENDENT EXAMINER’S REPORT
Accounts for the year ended 31[st] December 2023
Respective responsibilities of the Trustees and the examiner
The charity’s trustees are responsible for the preparation of the accounts and they consider that an audit is not required for the year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:
Examine the accounts under section 145 of the Charities Act
to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.
Basis of the 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 these records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required for an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no material matter has come to my attention which gives me cause to believe that in, any material respect:
Accounting records were not kept in accordance with section 130 of the Charities Act, or the accounts do not accord with the accounting records
I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: 15[th] May 2024
Signed:
Stephen Hendy
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Designated | Restricted | Total | Prior year | ||
|---|---|---|---|---|---|---|
| Notes | funds | funds | funds | funds | total funds | |
| Income and endowments from: | ||||||
| Voluntary income | (2a) | 75,627 | 6,500 | 3,975 | 86,102 | 84,161 |
| Actvites for generatng funds | (2b) | 3,724 | 483 | - | 4,207 | 4,223 |
| Investment income | (2c) | 29,497 | 1,126,606 | 2,355 | 1,158,458 | 35,685 |
| Church actvites | (2d) | 17,541 | 4,774 | 353 | 22,668 | 39,010 |
| Total income | 126,389 | 1,138,363 | 6,683 | 1,271,435 | 163,078 | |
| Expenditure on: | ||||||
| Church actvites | (3a) | 118,694 | 64,937 | 11,575 | 195,206 | 137,997 |
| Costs ofgeneratngfunds | (3b) | 7,601 | 372 | 2 | 7,975 | 12,972 |
| Total expenditure | 126,295 | 65,309 | 11,577 | 203,181 | 150,969 | |
| Net income / (expenditure) resources | ||||||
| before transfer | 95 | 1,073,054 | -4,894 | 1,068,255 | 12,109 | |
| Transfers: | ||||||
| Gross transfers between funds - in | 1,329 | 1,225,160 | 1,544 | 1,228,033 | 12,001 |
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| Gross transfers between funds - out | -143,892 | -1,084,043 | -97 | -1,228,033 | -12,001 | |
| Other recognised gains / losses | ||||||
| Gains/losses on investment assets | 29,446 | - | 2,731 | 32,176 | -40,397 | |
| Gains on revaluaton, fxed assets, | ||||||
| charity's own use | -5,000 | - | - | -5,000 | - | |
| Net movement in funds | -118,024 | 1,214,171 | -717 | 1,095,431 | -28,288 | |
| Reconciliaton of funds | ||||||
| Total funds brought forward | 410,894 | 372,661 | 232,787 | 1,016,342 | 1,044,630 | |
| Total funds carried forward | 292,871 | 1,586,832 | 232,070 | 2,111,773 | 1,016,342 |
There may be minor discrepancies in the totals if the pence are not being shown
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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BALANCE SHEET
| General Designated Restricted At 31/12/2023 At 31/12/2022 £ £ |
|
|---|---|
| Fixed assets Tangible Assets Investments Current assets Cash At Bank and In Hand Stocks And Work in Progress Debtors Investments Liabilites Creditors: Falling Due in One Year Net current assets less current liabilites Total assets less current liabilites Liabilites Total net assets less liabilites Fund Totals |
4,351 - - 4,351 6,527 230,682 - 144,318 375,000 525,000 |
| 235,033 - 144,318 379,351 531,527 |
|
| 22,473 1,296,905 23,686 1,343,064 129,873 - - - - 75 4,748 14,517 53 19,318 4,478 38,099 290,000 64,442 392,541 360,364 |
|
| 65,319 1,601,422 88,181 1,754,922 494,791 |
|
| 7,481 14,590 429 22,500 9,975 |
|
| 7,481 14,590 429 22,500 9,975 |
|
| 57,838 1,586,832 87,752 1,732,422 484,815 |
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| 292,871 1,586,832 232,070 2,111,773 1,016,342 |
|
| - - - - - |
|
| 292,871 1,586,832 232,070 2,111,773 1,016,342 |
|
| 292,871 1,586,832 232,070 2,111,773 1,016,342 |
There may be minor discrepancies in the totals if the pence are not being shown
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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NOTES TO THE ACCOUNTS
1. Summary of Significant Account Policies
General Informaton and basis of preparaton
The PCC is a public benefit entity with the meaning of FRS102. The financial Statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations “true and fair view” provisions, they have also been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Report by Charities (SORP(FRS102)).
Assets:
Consecrated and benefice property
Consecrated and benefice property is excluded and not capitalised in the financial statements in accordance with Charities Act 2011.
Fixed Assets
In accordance with FRS02 investment properties are carried at their fair value and professionally valued every five years. The properties were professionally valued November 2020 and the next professional valuation is due November 2025.
Depreciation has been provided on church equipment on a straight-line method based on the estimated economic life of the asset, which is 4 Years in the case of Fixtures, Fittings & Equipment.
Investments
Investments are recognised at their quoted market price. Unrealised gains or losses are calculated as the difference between the fair value at the year end and their carrying value.
Funds:
The financial statements have been prepared using fund accounting. Whereby income, expenditure, assets & liabilities are classified by fund. The 2 types of fund classification present in these accounts are:
1. Unrestricted Funds (General & Designated):
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a. General Funds are available for use at the discretion of the PCC in delivering the aims and objectives of the charity.
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b. Designated Funds are funds that have been set aside by the PCC for a particular purpose from the general fund.
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Restricted Funds represent grants, donations and legacies received which are allocated by the donor for a specific purpose .
The purpose of funds held by the charity are set out in notes to the financial statements. Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
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2. Incoming Resources
| General funds Designated funds Restricted funds Year Total Last Year Total |
|
|---|---|
| a) Voluntary Income | |
| Planned Giving Collectons At Service Donatons & Appeals Gif Aid Legacy gifs received Grants |
59,295 - 360 59,655 63,055 2,525 - - 2,525 2,270 511 500 100 1,111 722 13,296 - 85 13,381 15,126 - 6,000 2,000 8,000 - - - 1,430 1,430 2,987 |
| Voluntary income total | 75,627 6,500 3,975 86,102 84,161 |
| b) Investment Income | |
| Bank & Deposit Interest Dividends Investment Income Rental Income Other Fundraising |
2,728 26,606 - 29,334 1,385 - - 2,355 2,355 2,404 8,932 - - 8,932 8,067 17,838 - - 17,838 23,830 - 1,100,000 - 1,100,000 - |
| Investment income total | 29,497 1,126,606 2,355 1,158,458 35,685 |
| c) Actvites for Generatng Funds | |
| Events Fundraising Regular Fundraising |
3,614 435 - 4,049 3,578 110 48 - 158 644 |
| Actvites forgeneratng funds total | 3,724 483 - 4,207 4,223 |
| d) Church Actvites Other Income Parochial Fees Church Hire Hall Hire Social Group Bell Ringers Group Small Groups Womens Guild Flower Guild Lunch Club Church actvites total |
211 - 50 261 9,459 6,962 - - 6,962 6,464 1,713 - - 1,713 600 8,656 - - 8,656 15,350 |
| 17,541 - 50 17,592 31,873 - 936 - 936 - - 410 - 410 275 - 23 - 23 20 - - - - 226 - 86 303 389 926 - 3,319 - 3,319 5,690 |
|
| - 4,774 303 5,077 7,137 |
|
| 17,541 4,774 353 22,668 39,010 |
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
17
3. Expended Resources
| 3. Expended Resources | |
|---|---|
| General funds Designated funds Restricted funds Year Total Last Year Total |
|
| a) Church Actvites Common Fund Charitable Giving Ministry Expenses & Costs Vicarage Costs Curates House Costs Church Stafng Training & Other Staf Costs Staf & Volunteer Expenses Youth Work Mission & Outreach Work Children's Work Ofce & Admin Costs Communicaton Costs Church Service Costs Maintenance & Improvements Cleaning & Hygiene Insurance Safety & Security Church Utlites Church Repairs & Additons Architectural Legal and Professional Fees Legal & Professional Fees Church Hall, Moorfeld Independent Examiners Fees Other Expenditure Depreciaton Hall - Stafng Hall - Maintenance & Improvements Hall - Cleaning & Hygiene Hall - Insurance Hall - Running Costs Hall - Utlites Churchyard Upkeep Churchyard Equipment Depreciaton |
|
| 58,000 - - 58,000 55,008 3,766 - - 3,766 4,002 1,036 - 1,161 2,197 2,653 1,374 - - 1,374 2,044 - - - - - 6,960 - - 6,960 11,777 - - - - 142 - 138 - 138 - - - 52 52 - 98 415 975 1,488 765 22 280 - 302 490 3,016 500 1,383 4,898 5,675 215 240 - 455 233 4,043 589 - 4,634 4,214 1,282 5,997 - 7,279 6,863 2,466 - - 2,466 349 6,832 - - 6,832 6,358 1,293 - - 1,293 2,039 6,446 - 2,767 9,213 6,203 - 9,210 - 9,210 - - 20,238 - 20,238 - 4,370 21,592 - 25,962 - 1,050 - 132 1,182 1,020 494 795 63 1,353 267 2,176 - - 2,176 2,177 |
|
| 104,939 60,773 5,753 171,468 112,27 9 |
|
| 2,859 - - 2,859 5,489 2,068 - - 2,068 1,120 271 - - 271 215 1,111 - - 1,111 2,008 - - - - - 2,248 - - 2,248 3,496 |
|
| 8,557 - - 8,557 12,328 |
|
| 4,974 3,004 628 8,605 7,213 - - - - - |
|
| 4,974 3,004 628 8,605 7,213 |
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
18
| 18 | |
|---|---|
| Social Group Bell Ringers Group Costs Womens Guild Costs Flower Guild Costs Lunch Club Costs |
225 376 - 601 - - 466 - 466 248 - - - - 40 - - 687 687 1,029 - 1,097 3,729 4,826 4,861 |
| 225 1,939 4,416 6,580 6,178 |
|
| Church actvites total | 118,694 64,937 11,575 195,206 137,997 |
| b) Costs of generatng funds General funds |
Designated funds Restricted funds Year Total Last Year Total |
| Giving Costs 87 Events Fundraising Costs 293 Regular Fundraising Costs - Moorfeld Flat Overheads 3,710 Southam Drive Overheads 3,510 Investment Costs - |
- - 87 85 - - 293 1,158 - - - - 75 - 3,785 4,121 297 - 3,807 7,607 - 2 2 2 |
| Costs ofgeneratng funds total 7,601 |
372 2 7,975 12,972 |
4. Transfers Between Funds
| 4. Transfers Between Funds | |
|---|---|
| Note | General Designated Restricted Funds Total |
| Bob Parker Memorial 1 Building Development Fund 2 Children’s Work Fund 3 Epiphany 4 Flowers Guild 5 Hall Sale 6 Hilda Wilson Flower Fund 7 Hospitality Provision Fund 8 Legacy and Memorial Fund 9 Lunch Club – Designated 10 Natalie Moore Flower Fund 11 Social 12 Vicarage Decoratng Fund 13 Women’s Guild 14 Youth Work 15 General Moorfeld 16 General Unrestricted |
-526 -526 1,214,305 1,214,305 -86 86 0 -1,433 1,433 0 97 97 -1,074,196 -1,074,196 -56 -56 7,994 7,994 -1,500 2,026 526 1,033 -9,027 -7,994 -41 -41 225 -225 0 -750 750 0 70 -70 0 -14 14 0 -140,109 -140,109 |
| -142,564 141,117 1,447 0 |
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
19
-
1 Bob Parker Memorial : £526 transferred from the Bob Parker designated fund to the Legacy and Memorial Fund designated fund. The Legacy and Memorial Fund was set up to pool unrestricted legacy and memorial gifts.
-
2 Building Development Fund : The total value is made up of two transfers 1) transfer in from the ‘Hall Sale’ designated fund of £1074196 and 2) a transfer in from the General Fund of £140,109 being the net sale proceeds of Moorfield Court
-
3 Children’s Work Fund: Adjustment by transfer to clear negative position on Children’s Petty Cash which was funded from the General Fund but expenditure booked against the Children’s work fund.
-
4 Epiphany: Correction of M&G fund revaluation in 2022 invertedly applied to General Fund rather than Epiphany fund
-
5 Flowers Guild: Transfer of £56 from Hilda Wilson Fund (see below ) and £41 from Natalie Moore Fund (see below).
-
6 Hall Sale : Transfer of net sale proceeds and expenses to the Building Development Fund.
Hilda Wilson Flower Fund: Transfer to correct entry 25.8.2021 where £46 incorrectly taken from Flower 7 Guild Fund for Hilda Wilson Flowers. Balance of £10 for oasis and service charge 2023.
-
Hospitality Provision Fund Transfer from Lunch Club designated fund to the new Hospitality Provision
-
8 designated Fund. £7944 is the closing balance of the TSB Lunch Club account.
-
Legacy and Memorial Fund : £526 transferred from Bob Parker memorial designated fund and balance of
-
9 £1500 from General Fund representing a £1000 unrestricted legacy and a £500 unrestricted memorial gift.
-
Lunch Club: Designated fund of £7944 to new Hospitality Provision designated fund and balance of £1033
-
10 to General Fund for Hall hire
-
Natalie Moore Flower Fund ; Transfer to Flower Guild account to cover the cost of Oasis and Service fee
-
11 £17 and correction of item 4.10.2021 when expenses inadvertently taken from Flower Guild fund
-
Social: A transfer to the General Fund to cover the cost of Parish Iranian meal enable an electronic
-
12 payment to be made for expenses.
-
Vicarage Decorating Fund : Transfer from General Fund of £750 as agreed by PCC 15.6.23
-
13
-
Women’s Guild; A transfer from the Women’s Guild designated fund to General Fund for Hall hire.
-
14
-
Youth Work : Adjustment made by transfer from General to correct negative Youth position on Children’s
-
15 Petty Cash
-
General Unrestricted: Moorfield net sale proceeds £140,109 to Building Development Fund in addition to
-
16 transfers referred to in items 3,4,9,10,12,14,15,16
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
20
5. Unrestricted Fund Movements
| 5. Unrestricted Fund Movements | |
|---|---|
| Fund Fund balances Incoming Outgoing Transfers Gains and Journal brought forward Resources Resources Losses Entries |
Fund balances Carried forward |
| General Unrestricted 410,894 126,389 126,295 -142,564 0 24,446 Sub-totals 410,894 126,389 126,295 -142,564 0 24,446 |
292,871 |
| 292,871 | |
| Designated Bell Ringers 670 433 466 0 0 0 Bob Parker Memorial 598 0 72 -526 0 0 Building Development Fund 250,000 26,606 21,781 1,214,305 0 0 C M E 3,568 48 939 0 0 0 Children's Work Fund 0 5,000 280 86 0 0 Flower Guild 0 86 0 0 0 0 Hall Sale 0 1,100,435 26,239 -1,074,196 0 0 Hospitality Provision Fund 0 0 0 7,994 0 0 Jim Carr Memorial 1,075 0 0 0 0 0 Legacy and Memorial Fund 0 1,500 0 2,026 0 0 Lime Tree 10,012 0 2,124 0 0 0 Lunch Club 6,806 3,319 1,097 -9,027 0 0 M W and O 413 0 318 0 0 0 Social 3,704 936 376 -225 0 0 Upkeep of Church, Churchyard and Propertes 92,900 0 10,462 0 0 0 Vicarage Decoratng Fund 1,691 0 0 750 0 0 Vicars Compassion Fund 360 0 360 0 0 0 Womens Guild 865 0 795 -70 0 0 Sub-totals 372,662 1,138,363 65,309 141,117 0 0 |
637 0 1,469,129 2,677 4,807 86 0 7,994 1,075 3,526 7,888 0 95 4,039 82,438 2,441 0 0 1,586,832 |
Unrestricted Fund Purposes:
General Fund:
- ➢ Available for use at the discretion of the PCC in delivering its aims and objectives.
Designated Funds:
-
➢ Bell Ringers Fund is used to cover costs of church bells.
-
➢ Bob Parker Memorial PCC Designated Fund was held by the PCC as a designated fund to be used for a purpose in memory of Robert Parker. Balance of funds have now been transferred to the Legacy and Memorial Fund.
-
➢ Building Development Fund established by the PCC to hold funds to be used for the upgrading and reordering of the Church Building
-
➢ Communication, Media & Equipment Fund is for costs associated with communication for the life of the church including media, equipment, and communication costs.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
21
-
➢ Children’s Work Fund was established by the PCC in January 2023 upon receipt of an unrestricted legacy gift of £5000 for the purpose of funding costs associated with the provision of children’s work.
-
➢ Flower Guild Fund maintained for the purpose of providing flowers to the church where funds received are not restricted.
-
➢ Hall Sale the fund was set up in May 2023 to manage all income and costs associated with the sale of the Church Hall with the net balance being transferred to the Building Development Fund.
-
➢ Hospitality Provision Fund was established by the PCC in November 2023 to take receipt of the account balance of the Luncheon Club and to designate the funds for any purpose associated with the provision of hospitality.
-
➢ Jim Carr Memorial is being held by the PCC to be designated / used for a purpose in memory of Jim Carr
-
➢ Legacy & Memorial Fund was set up by the PCC in October 2023 to pool a small number of unrestricted legacy or memorial gifts for ease of management and oversight for any purpose identified by the PCC whilst retaining visibility of the source of funds.
-
➢ Lime Tree Fund has been established to fund the upkeep of Lime Trees in the churchyard and the replacement of the current Lime Trees at the end of their life
-
➢ Luncheon Club Fund was for costs associated with running the weekly Luncheon Club at St Michael’s and any income associated with its activities. This fund is now inactive following closure of the Luncheon Club.
-
➢ Musical Worship & Organ Fund: A fund for costs associated with organ maintenance and musical worships resources and costs. Previously the Organ Fund which was incorrectly classed as restricted funds and redesignated in 2021
-
➢ Social Fund is for the costs associated with providing social functions at St Michael’s throughout the year along with any income received at those functions
-
➢ Upkeep of Church, Churchyard and Properties is for covering any expenditure associated with the Church building, Churchyard & Other PCC properties in the future
-
➢ Vicar’s Compassion Fund had been established to monitor a £1000 discretionary spend by the Vicar for the purpose of pastoral care for those in need. The fund had been funded by the Nancy Baker fund but as from 2023 will be inactive with monitoring directly from the ‘Those In Need’ nominal account.
-
➢ Vicarage Decorating Fund was established upon closure of the Diocese Decorating Scheme and will be used to make provision for internal decorating to the vicarage
-
➢ Women’s Guild Fund was for the income and expenses associated with St Michael’s Women’s Guild but made inactive in 2023 when the Women’s Guild moved to new premises and decided to reform independently of St Michael’s Church.
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
22
6. Restricted Fund Movements
| Fund | Fund balances brought forward |
Incoming Resources |
Outgoing Resources |
Transfers | Gains and Losses |
Journal Entries |
Fund balances Carried forward |
|---|---|---|---|---|---|---|---|
| Restricted | |||||||
| Bell Ringers | 20 | 0 | 0 | 0 | 0 | 0 | 20 |
| Churchyard | 0 | 680 | 628 | 0 | 0 | 0 | 53 |
| Credit Union | 1,098 | 0 | 2 | 0 | 0 | 0 | 1,096 |
| Defbrillator | 590 | 0 | 0 | 0 | 0 | 0 | 590 |
| Energy Fund | 1,567 | 0 | 1,567 | 0 | 0 | 0 | 0 |
| Epiphany | 209,233 | 2,355 | 3,939 | 1,433 | 0 | 2,731 | 211,813 |
| Flowers Guild | 2,247 | 303 | 555 | 97 | 0 | 0 | 2,092 |
| Hilda Wilson Flower Fund | 296 | 0 | 70 | -56 | 0 | 0 | 170 |
| Lunch Club | 1,729 | 2,000 | 3,729 | 0 | 0 | 0 | 0 |
| Nancy Baker | 4,634 | 1,200 | 975 | 0 | 0 | 0 | 4,860 |
| Natalie Moore Flower Fund | 492 | 0 | 62 | -41 | 0 | 0 | 390 |
| Youth Work | 10,880 | 145 | 52 | 14 | 0 | 0 | 10,987 |
| Sub-totals | 232,786 | 6,683 | 11,579 | 1,447 | 0 | 2,731 | 232,071 |
Restricted Fund Purposes:
-
➢ Bell Ringers Fund is for donations specifically given to the upkeep and maintenance of the bell tower/ bells and bell ringing activities
-
➢ Churchyard Restricted Fund is for donations specifically given to the churchyard for the upkeep and maintenance of it
-
➢ Credit Union Fund is a fund held with the Credit Union from donations received specifically for that purpose
-
➢ Defibrillator Fund was from a donation to the Church where the request was made for the monies to be used to purchase and install a defibrillator
-
➢ Energy Fund is to manage a grant received, via the Birmingham Diocesan Board of Finance, from the Archbishops’ Council to assist parishes that are facing escalating energy costs in carrying out their activities
-
➢ Epiphany Fund was from a legacy where the benefactor stated that the expenditure should be to or for the benefit of the clergy in the parish
-
➢ Flower Guild Restricted Fund is for donations / contributions towards the costs associated with the flowers at services, memorials and events held at St Michaels
-
➢ Hilda Wilson Fund is a memorial fund which states that the monies are to be used for flower displays within the church on specific dates
-
➢ Luncheon Club Restricted Fund: From donations given specifically towards Luncheon Club events & outings
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
23
-
➢ Nancy Baker Fund has been established for the yearly income received from the Nancy Baker Trust. The fund is used towards the pastoral care and evangelical work of the PCC
-
➢ Natalie Moore Fund is a memorial fund which states that the monies are to be used for flower displays within the church on specific dates
-
➢ Youth Work Fund is for donations received specifically to be used for the Youth Work at St Michael’s
7. Staff Costs
| . Staf Costs | ||
|---|---|---|
| This Year | Lat Year | |
| Total | Total | |
| Wages & Salaries | 9,774 | 18,355 |
| Social Security Costs | 44 | 184 |
| Pension Costs | 0 | 0 |
| 9,818 | 18,539 | |
| Average Number of Employees | 1 |
During the year, no employee earned £60,000 per annum or more.
There are no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.
8. Fixed Investment Assets
| Market Value – 1stJanuary Additons Revaluaton gain / (loss) Market Value – 31st December |
Southam Drive Moorfeld Flat Total 375,000 150,000 525,000 — -145,000 -150,000 — -5,000 — |
|---|---|
| 375,000 — 375,000 |
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
24
9. Fixed Assets For Use By PCC
| Cost or Valuaton At 1st January 2023 Additons Revaluaton Gain / (Loss) At 31st December 2023 Depreciaton At 1st January 2022 Charge for the year Disposal Net Book Value At 31st December 2023 |
Churchyard Equipment AV Equipment Total 0 8,076 8,076 0 0 0 0 0 0 |
|---|---|
| 0 8,076 8,076 |
|
| 0 2,176 2,176 0 2,176 2,176 0 0 0 |
|
| 0 4,351 4,351 |
|
| 0 4,351 4,351 |
10. Cash At Bank & In Hand
| 0. Cash At Bank & In Hand | |
|---|---|
| Cash At Bank And In Hand Church Current Account Credit Union Church Pety Cash Children's Work Pety Cash Short Term Deposits CCLA 6002D Deposit Account Diocesan Decoratng Fund Group Accounts Epiphany HSBC Account Flower Guild Santander Account Lunch Club TSB Account Social Club Lloyds Account Bell Ringers Santander Account Women’s Guild HSBC Account Group Pety Cashes Group Floats Total Cash At Bank & In Hand |
Balance Previous Balance |
| 19,132 37,101 1,096 1,098 76 82 - 110 20,304 38,391 1,312,827 69,110 - 1,691 1,312,827 70,801 3,059 4,643 2,083 2,156 - 8,458 3,939 3,644 600 617 - 670 152 345 100 260 9,933 20,793 |
|
| 1,343,064 129,985 |
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024
25
11. Investments
| Market Value – 1stJanuary 23 Additons Revaluaton gain / (loss) Market Value – 31st December 23 |
This Year Last Year Total Total 360,364 325,761 75,000 32,177 -40,397 |
|---|---|
| 392,541 360,364 |
12. Debtors
| 12. Debtors | ||
|---|---|---|
| This Year | Last Year | |
| Total | Total | |
| Debtors | ||
| Hire Debtors | - | 183 |
| HMRC Debtor | 401 | 518 |
| Other Debtors | 17,714 | 3,378 |
| Total Debtors | 18,115 | 4,079 |
| Other Prepayments | 1,203 | 399 |
| Total Debtors & Prepayments | 19,318 | 4,478 |
13. Liabilities
| 13. Liabilites | Balance | Previous |
|---|---|---|
| balance | ||
| Liabilites | ||
| Independent Examiners Fees | 1,085 | 850 |
| Mission Giving | 3,766 | 4,002 |
| Epiphany | 5 | 5 |
| Utlity Creditors | 1,630 | 1,780 |
| Other Creditors | 15,491 | 3,035 |
| Agency collectons | 423 | 53 |
| Total Liabilites | 21,977 | 9,672 |
| Other Deferred Income | 100 | 250 |
| Total Liabilites & Deferred Income | 22,077 | 9,922 |
Boldmere, St Michael’s PCC 2023 Annual Report & Accounts
March 2024