St Andrew’s Church, Malvern 2023 **Trustees Annual Report 2023 Annual Report of the Parochial Church Council For the year 1[st] January to 31[st] December 2023** Registered Charity Number: 1128973 Contact PCC Secretary: c/o St Andrew’s Church, Churchdown Road, Malvern WR14 3JX Page 1 St Andrew’s Church, Malvern 2023 ## **1. Introduction** _‘The_ _**Parochial Church Council** or PCC, is the executive body of a Church of England parish. It is constituted as a body corporate by the Church Representation Rules set out in Schedule 3 to the Synodical Government Measure 1969, and consists of the clergy and churchwardens of the parish, together with a number of representatives of the laity principally elected by the annual parochial church meeting of the parish. Its powers and duties are defined by certain Acts of Parliament and other legislation, principally the Parochial Church Councils (Powers) Measure 1956. It has the responsibility of cooperating with the incumbent (rector, vicar or priest) or priest in charge in promoting the mission of the Church in its parish._ _Formally, the PCC is responsible for the financial affairs of the Church and the care and maintenance of the church fabric and its contents. These latter responsibilities are executed primarily by the churchwardens. It also has a voice in the forms of Service used by the church and may make representations to the bishop on matters affecting the welfare of the parish.’_ The Church Representation Rules (2020) detail local church governance arrangements and provide the framework under which PCCs and parishes operate to best serve ministry and mission in their contexts. St Andrew’s Church is situated in Poolbrook, Malvern. It is part of the Diocese of Worcester within the Church of England. In September 2014 St Andrew’s became part of the Chase Team Ministry which includes St Mary’s Pickersleigh and All Saints Malvern Wells & Wyche. The three parishes each have their own Parochial Church Council. The Chase Team has a Team Rector and a Vicar in The Chase Team (currently vacant). The Rector and the Vicar are remunerated through the Diocese of Worcester. ## **2. Aims and Purposes** St Andrew’s Parochial Church Council (PCC) has the responsibility of cooperating with the Team Rector, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance and upkeep of the St Andrew’s Church Centre complex. In Autumn 2017 the PCCs of St Andrew’s and All Saints agreed a joint mission statement to describe our core purpose: - **Encountering Jesus** in Worship, Prayer, Word and Spirit. - **Growing whole-life, life-long disciples.** - **Seeing lives transformed and communities flourish** as we demonstrate and proclaim God’s Kingdom. This is all under pinned by the strapline ‘ _**Partnering with God in the flourishing of our communities**_ ’. Page 2 St Andrew’s Church, Malvern 2023 ## **3. Objectives and activities** The PCC believes that St Andrew’s provides clear benefit to the public including by: - providing resources and facilities for public worship, pastoral care and spiritual development for both those living in the Parish and beyond. - promoting the Christian religion and Christian values for the benefit of individuals and society as a whole. - making the facilities of the Church Centre available to the wider community (rather like a village hall). The local community directly benefits from a whole range of activities, services and events that St Andrew’s provides. These include toddler groups, young people’s groups, youth groups, Holiday@Home activities, bereavement support, debt support, the Octagon Coffee Shop and provision of the occasional offices (funerals, weddings, baptisms). The St Andrew’s Church Centre is a fantastic community facility available for public hire at reasonable rates and is well used. ## **4. Achievements and Performance** 2023 was the first full ‘normal’ year after COVID and most of our usual activities were again underway. However, it was also the year where our Rector had his planned 3-month sabbatical and subsequently, very unfortunately, had an extended period of illness which meant that somethings did not move forwards as much as we had hoped. Nevertheless, we continued to run our regular services throughout the year ‘in-person’ (mid-week, Early Birds, Sunday morning and The Six on Sunday evening) and online. We have continued to see our congregations grow significantly over the last year which represents more than a 100% increase in worshipping community since 2015. ||2015|2016|2017|2018|2019|2020|2021|2022|2023| |---|---|---|---|---|---|---|---|---|---| |Total
Worshipping
Community|160|201|244|261|263|297|326|332|377| |0-17s
Worshipping
Community|43|55|63|69|66|71|84|75|103| Our 2023 Annual Review (prepared jointly with our sister church All Saints) for the Annual Parochial Church Meetings (available at St Andrew’s Church or from our web site www.standrewsandallsaints.org/resources/annual-reviews/), gives a more detailed summary of many of our activities and achievements over the last year. Some of the key features include: - Continued growth of our different congregations. - Regular children and young people’s ministry including toddler groups, children and youth groups on a Sunday. We now have over 100 under 18s in our worshipping community. - A weekend away organized for our youth. Page 3 St Andrew’s Church, Malvern 2023 - Increased involvement in our Church of England Primary Schools including running ‘Experience Easter’, and ‘The Lord’s Prayer Workshop.’ - Regular speakers at our men’s breakfasts. - A successful Alpha Course. - Appointment of an Assistant Children and Families minister to run parenting courses in the church and community. - Pastoral and spiritual support for members of the congregations and members of the community through the Bereavement Team, Octagon Centre, Christians Against Poverty (CAP). - Supporting the work of our mission partners, both locally, nationally and internationally (including Bible Society, Church Mission Society, Church Army, Bible Society, Urban Neighbours of Hope, Josiah Ventures and Open Doors), donating over £17,000 to these organizations. - Serving our community through occasional offices: funerals, weddings and baptisms. - Supporting local people in financial difficulty through the Blessings Fund. - Continuing to developing leadership structures, ‘strategic teams’ and ‘congregational leadership teams’ to lead in different areas of ministry. ## **5. Future Plans** 2024 will be a year of significant transition as work to fully realise the potential of the Chase Team, including appointing a new Vicar in the Chase Team and the starting in post of a new Youth Ministry Leader. There are many exciting opportunities to fulfil our call to be ‘blessed to be a blessing’ to our communities and other churches, and the 2024 will be a significant time of prayer and discernment about this future vision whilst we embed the new leadership structures and strategic teams. The key areas for the coming year will therefore be: - Recruiting a new Vicar in the Chase Team. - Re-integrating St Mary’s into the Chase Team and developing new support for the Pickersleigh Community. - A new Youth Minister starting April 2024, to continue to develop our ministry among Young People. - Continuing to embed the new leadership structure and new staff to release others for ministry. - To seek to explore new ‘worshipping communities’ – at the Octagon and with St Mary’s, to reach those in our community for whom current services are not a good fit. - Continued support and focus on ‘frontline mission’ and equipping people to be disciples in their Monday to Saturday lives. - Continued involvement with our Church of England Schools including input into the Christian Vision, Parenting Courses and assemblies and lessons. Page 4 St Andrew’s Church, Malvern 2023 ## **6. Financial Review** Total income from all sources for the year was £364,304, compared to £269,338 in 2022, representing a 35% increase. Expenditure in the year was £284,346, compared to £235,652 in 2022, representing a 21% increase. The net effect of these results produced a £80,106 increase in net resources over the year to £258,286 (£178,180 at 31 December 2022). Of this: £1,718 (2022 - £1,570) is permanently endowed, £88,439 (2022 - £36,683) is held for restricted use and £13,298 (2022 - £10,383) is designated by the Church for specific purposes. This leaves £154,831 (2022 - £129,544) as unrestricted funds which, after due allowance for tangible fixed assets, gives £153,029 (2022 - £123,776) as freely available reserves for use in the future charitable activities of the Church. We are very grateful to all those who have (and continue) to give to the work and upkeep of our church and beyond. ## **7. Reserves and investment policy** It is the policy of the Church that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least three month’s running costs (approximately £60,000). The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Church’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Funds balances held in excess of short to medium-term needs are invested with the CBF Church of England Deposit Fund. The endowment investment is held in a CBF Investment (Income) Fund. The church has no loans against these funds. The Trustees have assessed the major risks to which the Church is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **8. Structure, governance and management** The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. Annually, and well in advance of the Annual Parochial Church Council meeting, all members on the electoral roll of St Andrew’s are invited to be nominated to sit or re-sit on the PCC for a 3-year period. If too many members are nominated, a simple vote is conducted at the Annual Parochial Church Council meeting. The PCC locally manages St Andrew’s Church building, the St Andrew’s Church Centre and the grounds on behalf of the Diocese of Worcester. This includes short and long term maintenance and enhancement of the assets. Page 5 St Andrew’s Church, Malvern 2023 The administrative and support costs and clergy expenses for St Andrew’s & All Saints are shared between the two PCCs. The clergy stipends are met by the Church Commissioners. St Andrew’s employs a part time cleaner and, jointly with All Saints, employs: - An Operations Manager. To oversee and manage all of the practical, administrative and operational aspects of church life and play a vital role in supporting our leadership and congregations. - A Youth Ministry Leader. This key post was filled until August 2021 when the role holder completed their agreed 3-year term and, following several advertisements, a new Youth Ministry Leader has been appointed and is due to start in April 2024. - A Children and Families Ministry Leader (part time) and an Assistant Children and Families Ministry Leader (part time – fixed term appointment). - Part time Office Administrators / Personal Assistant. Two Office Administrators (each part time) throughout most of 2023 with one (part time) and a Personal Assistant to the Rector (part time fixed term) in 2024. The PCC typically meets approximately seven times per year. Between meetings, any urgent day to day business of the PCC is undertaken by a Standing Committee consisting of Chair, Vice-Chair, Churchwardens, Deputy Churchwarden, Parish Safeguarding Officer and Treasurer. Any decisions taken by the Standing Committee are summarised at the subsequent PCC Meeting. When appointed, new PCC members confirm their eligibility to be a Charity Trustee and are provided with an introduction to their role, typically including how the PCC operates, the importance of being a Charity Trustee and a Church financial introduction/overview. The PCC responds positively and implements all appropriate legislation linked with health and safety and disability. Examples include: - A Health & Safety Policy is in place, supported by an appropriate set of responsibilities, rules and risk assessments. This includes a fire risk assessment and appropriate test procedures, e.g. fire alarms, emergency lighting, gas and electrics. - The new build provides level access to virtually all areas and provides fully compliant disabled facilities. ## **9. Safeguarding** The PCC has complied with its duty to have ‘due regard’ to the House of Bishops’ Safeguarding Policy and Practice Guidance. During 2023, 39 members of the churches have completed DBS checks and 44 members have completed safeguarding training at various levels. We are the first church in the Diocese to have delivered the ‘Raising Awareness of Domestic Abuse’ training face-toface. Page 6 St Andrew’s Church, Malvern 2023 A few safeguarding concerns have arisen during the year, which have been addressed promptly by the Rector and the Parish Safeguarding Officer. Support and advice have been sought from the Diocese. All required documents and procedures are in place and good practice is being implemented. The final elements of the new Safer Recruitment Guidance are in the process of being implemented. ## **10. Administrative Information** ## **Full Name:** The Parochial Church Council of the Ecclesiastical Parish of St Andrew Malvern. ## **Charity Registration Number** : 1128973. The Church is an unincorporated charity constituted as detailed earlier in this report. ## **Address** St. Andrew’s Church, Churchdown Road, Malvern, WR14 3JX **Secretary** - currently vacant. Being covered by the Operations Manager, c/o St. Andrew’s Church, Churchdown Road, Malvern, WR14 3JX. ## **Leadership** Rector: Revd Dave Bruce Vicar in The Chase Team: Currently vacant Retired Clergy: Revd David Ritchie Revd Jo Vickery Revd Helen Wilkinson Revd Mark Slater Operations Manager Liz Saunders Youth Ministry Leader: Vacant through 2023 Children and Families Ministry Leader: Helen Attree Assistant Children and Families Ministry Leader: Ruth Wharton Wardens: Nick Fane (to 16[th] April 2023) Chris Mesley (from 16[th] April 2023) Lis Whybrow Readers: Derham Cook Judith Keene Heather Williamson Page 7 St Andrew’s Church, Malvern 2023 Representatives on Deanery Synod: Jane Mortimore Carole Nicholls ## **Trustees (PCC Members)** The trustees (PCC Members) who served during the year were: Dave Bruce (Chair) Derek Barnes (Vice Chair) Nick Fane (Churchwarden to 16[th] April 2023) Chris Mesley (Churchwarden from 16[th] April 2023 Lis Whybrow (Churchwarden) Andy Lymer (Treasurer) Derham Cook Nick Fane (from 16[th] April 2023) Val Fane Alan Holmes (to 16[th] April 2023) Virginia Jones (to 16[th] April 2023) Anna Laidler Chris Mesley (to 16[th] April 2023) Tristan Mitchell Jane Mortimore Carole Nicholls Ellie Noble Simon Noble Jennifer Oakley Beth Reed (from 16[th] April 2023) Colin Robbins Heather Williamson Helen Wilkinson ## **11. Declaration:** The Trustees (PCC) declare that they have approved this Trustees Annual Report at their meeting on the 11[th] April 2024. Signed on behalf of the PCC: Revd Dave Bruce MA **Chair** Dr Derek Barnes **Deputy Chair** Page 8 **Financial Statements for Year Ended 31 December 2023** **Charity Registration No. 1128973** ## **ST ANDREW'S CHURCH, MALVERN** # **ANNUAL FINANCIAL STATEMENTS FOR THE** # **YEAR ENDED 31 DECEMBER 2023** **Financial Statements for Year Ended 31 December 2023** ## **ST ANDREW'S CHURCH, MALVERN** ## **CONTENTS** ||**Page**| |---|---| |Independent examiner's report|1| |Statement of financial activities|2 - 3| |Balance sheet|4| |Notes to the financial statements|5 - 18| **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST ANDREW'S CHURCH, MALVERN** I report to the trustees on my examination of the financial statements of St Andrew's Church, Malvern (the Church) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the trustees of the Church you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Church’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Church’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Church as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Elizabeth Needham ACA CTA (VAT) Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Dated: 10[th] April 2024 - 1 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **Current financial year** |**Unrestricted Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**£**
**Income and endowments from:**
Grants and legacies
**3**
-
8,000
51,000
-
Church activities
**4**
24,837
5,632
1,380
-
Voluntary income
**6**
220,081
2,205
33,113
-
Investments
**7**
1,066
-
233
-
Other incoming
resources
**5**
16,757
-
-
-
**Total income**
262,741
15,837
85,726
-
**Expenditure on:**
Charitable activities
**8**
203,739
12,922
67,685
-
Net gains/(losses) on
investments
**11**
-
-
-
148
**Net incoming**
**resources before**
**transfers**
59,002
2,915
18,041
148
Gross transfers between
funds
**14**
(33,715)
-
33,715
-
**Net movement in funds**
25,287
2,915
51,756
148
Fund balances at 1
January 2023
129,544
10,383
36,683
1,570
**Fund balances at 31**
**December 2023**
154,831
13,298
88,439
1,718|**Total**
**2023**
**£**
59,000
31,849
255,399
1,299
16,757
364,304
284,346
148
80,106
-
80,106
178,180
258,286|Total
2022
**£**
-
28,181
232,025
172
8,960
269,338
235,652
(210)
33,476
-
33,476
144,704
178,180| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 2 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Prior financial year**
**Unrestricted Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**general**
**designated**
**2022**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**£**
**Income and endowments from:**
Church activities
**4**
21,323
6,153
705
-
Voluntary income
**6**
184,874
962
46,189
-
Investments
**7**
172
-
-
-
Other incoming resources
**5**
8,960
-
-
-
**Total income**
215,329
7,115
46,894
-
**Expenditure on:**
Charitable activities
**8**
186,945
7,641
41,066
-
Net gains/(losses) on investments
**11**
-
-
-
(210)
**Net incoming resources before**
**transfers**
28,384
(526)
5,828
(210)
**Net movement in funds**
28,384
(526)
5,828
(210)
Fund balances at 1 January 2022
101,160
10,909
30,855
1,780
**Fund balances at 31 December**
**2022**
129,544
10,383
36,683
1,570|**Total**
**2022**
**£**
28,181
232,025
172
8,960
269,338
235,652
(210)
33,476
33,476
144,704
178,180| |---|---| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 3 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**15**
Investments
**16**
**Current assets**
Debtors
**17**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**18**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
**19**
**Income funds**
General restricted funds
**20**
Unrestricted funds
Designated funds
**21**
General unrestricted funds
**22**|**2023**
**£**
4,652
259,913
264,565
(9,799)
88,439
13,298
154,831|**£**
1,802
1,718
3,520
254,766
258,286
1,718
88,439
168,129
258,286|**2022**
**£**
6,221
169,671
175,892
(5,050)
36,683
10,383
129,544|**£**
5,768
1,570| |---|---|---|---|---| |||||7,338
170,842| |||||178,180| |||||1,570
36,683
139,927| |||||178,180| The financial statements were approved by the Trustees at their meeting on 11[th] April 2024 Rev D C Bruce MA **Chair** Dr D H Barnes **Deputy Chair** - 4 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** St Andrew's Church, Malvern is an unincorporated charity and its office is Churchdown Road, Malvern, WR14 3JX. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", having regard to the Church Representation Rules (last updated 2020) The Church is a Public Benefit Entity as defined by FRS 102. The Church has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Church. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the Church has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are 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 set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Church. ## **1.4 Income** Income is recognised when the Church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. - 5 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** **(Continued)** Legacies are recognised on receipt or otherwise if the Church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.5 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Equipment used within the church premises (including the Church Centre and the Chase Team Office) is depreciated on a straight line basis over four years. Individual items of equipment with a purchase price of £1,500 or less are written off when the asset is acquired. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Consecrated and benefice property is not included in the accounts by virtue of s96(2)(a) of the Charities Act 1993. 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. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.7 Impairment of fixed assets** At each reporting end date, the Church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 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. - 6 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.9 Financial instruments** The Church 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 Church's balance sheet when the Church becomes party to the contractual provisions of the instrument. ## _**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. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Church’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Church is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the Church’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. - 7 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **3 Grants and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**designated**
**2023**
**2023**
**£**
**£**
Donations and gifts
2,205
13,000
Legacies receivable
8,000
-
Grant income
-
51,000
10,205
64,000
**Legacies receivable**
H.E Baxter legacy gift
8,000
-
8,000
-
**Grants receivable for core activities**
MHDC grant for CAP
-
10,000
Worcester Diocese re salaries
-
41,000
-
51,000|**Total**
**2023**
**£**
16,899
8,000
51,000
75,899
8,000
8,000
10,000
41,000
51,000|Total
2022
£
46,002
-
-| |---|---|---| |||46,002| |||-| |||-| |||-
-| |||-| - 8 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **4 Church activities** ||**Church**|**Church**| |---|---|---| ||**activities**|**activities**| ||**2023**|**2022**| ||**£**|**£**| |Activities|5,543|8,188| |Weddings and funerals|3,440|1,893| |Miscellaneous income|60|60| |Blessings fund|788|2,247| |Church centre hiring|17,843|12,474| |Octagon coffee shop|900|1,600| |Bereavement cafe income|3,275|1,719| ||31,849|28,181| |Analysis by fund||| |Unrestricted funds - general|24,837|21,323| |Unrestricted funds- designated|5,632|6,153| |Restricted funds|1,380|705| ||31,849|28,181| ## **5 Other income** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |All Saints expenses share and other income|16,757|8,960| - 9 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **6 Voluntary income** |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Planned offerings
181,486
-
14,558
Other offerings
5,275
-
2,945
Donations
1,694
2,205
13,000
Gift aid
31,626
-
2,610
Voluntary income
220,081
2,205
33,113|**Total**
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
**2023**
2022
2022
2022
**£**
£
£
£
196,044
135,071
-
13,570
8,220
2,166
-
5,000
16,899
20,293
962
24,747
34,236
27,344
-
2,872
255,399
184,874
962
46,189|Total
2022
£
148,641
7,166
46,002
30,216| |---|---|---| |||232,025| - 10 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **7 Income from investments** ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**||**funds**|**funds**|| ||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Interest receivable|1,066|233|1,299|172|-|172| ## **8 Charitable activities** ||**Church**|**Church**| |---|---|---| ||**activities**|**activities**| ||**2023**|**2022**| ||**£**|**£**| |Staff costs|94,287|60,853| |Depreciation and impairment|3,966|7,560| |Ministry share|83,850|76,500| |Church 'away' giving|17,359|23,114| |Clergy expenses and service costs|8,026|3,784| |Weddings and funerals (WDBF)|1,657|941| |Office costs|5,354|3,286| |Youth and childrens work|3,538|2,087| |Mission and community|36,309|20,798| |Buildings running and maintenance costs|10,049|6,051| |Miscellaneous|2,353|2,266| |Bereavement cafe expenditure|3,946|2,335| |Gift to All Saints Church|-|15,000| |Octagon activities|2,055|2,244| |Light and heat|10,427|7,663| ||283,176|234,482| |Share of support costs (see note 10)|480|480| |Share of governance costs (see note 10)|690|690| ||284,346|235,652| |**Analysis by fund**||| |Unrestricted funds - general|203,739|186,945| |Unrestricted funds-designated|12,922|7,641| |Restricted funds|67,685|41,066| ||284,346|235,652| - 11 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **9 Trustees** Payments to PCC Members: None (excludes reimbursement for expenses). The expenses paid to clergy may include a small immaterial proportion which related to their function as a PCC member ## **10 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
480
-
Independent examination
fees
-
690
480
690
Analysed between
Charitable activities
480
690|**2023**Support costs Governance
costs
**£**
£
£
480
480
-
690
-
690
1,170
480
690
1,170
480
690|2022
£
480
690| |---|---|---| |||1,170| |||1,170| ## **11 Gains and losses on investments** ||**Endowment**|**Endowment**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|148|(210)| ## **12 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 12 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **13 Employees** ## **Number of employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| |Average number of employees|6|6| |Full time equivalents number of employees|4|4| |**Employment costs**|**2023**|**2022**| ||**£**|**£**| |Wages and salaries|93,073|60,376| |Other pension costs|1,214|477| ||94,287|60,853| Two employees are related to CAP activity. Total wages £25,304 including £373 re pension costs.Two employees are related to Youth work. Total wages £27,246. There were no employees whose annual remuneration was £60,000 or more. ## **14 Transfers** The transfer between funds represents the amount needed to reflect the amounts held in bank accounts for CAP. ## **15 Tangible fixed assets** |**Hall**
**Equipment**
**Church**
**Equipment**
**£**
**£**
**Cost**
At 1 January 2023
20,336
14,446
At 31 December 2023
20,336
14,446
**Depreciation and impairment**
At 1 January 2023
17,719
11,295
Depreciation charged in the year
2,617
1,349
At 31 December 2023
20,336
12,644
**Carrying amount**
At 31 December 2023
-
1,802
At 31 December 2022
2,617
3,151|**Total**
**£**
34,782| |---|---| ||34,782| ||29,014
3,966| ||32,980| ||1,802| ||5,768| **16 Fixed asset investments** - 13 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**16**
**Fixed asset investments**
**Cost or valuation**
At 1 January 2023
Valuation changes
At 31 December 2023
**Carrying amount**
At 31 December 2023
At 31 December 2022
**17**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
**18**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Accruals and deferred income|**(Continued)**
**Listed**
**investments**
**£**
1,570
148
1,718
1,718
1,570
**2023**
**2022**
**£**
**£**
4,652
6,221
**2023**
**2022**
**£**
**£**
800
994
729
1,158
8,270
2,898
9,799
5,050| |---|---| ## **19 Endowment funds** Endowment funds represent assets which must be held permanently by the Church. Income arising on the endowment funds can be used in accordance with the objects of the Church and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. ||**At**|**1**|**January**|**Gains and**|**At 31**| |---|---|---|---|---|---| ||||**2023**|**losses**|**December**| ||||||**2023**| ||||**£**|**£**|**£**| |**Permanent endowments**|||||| ||||1,570|148|1,718| - 14 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**19**|**Endowment funds**|||**(Continued)**| |---|---|---|---|---| ||**Previous year:**|**At 1 January**|**Gains and**|**At 31**| |||**2022**|**losses**|**December**| |||||**2022**| |||**£**|**£**|**£**| ||**Permanent endowments**|||| |||1,780|(210)|1,570| ## **20 Restricted funds** to how they may be used. |||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---| ||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1 January 2023**|**resources**|**expended**||**31 December 2023**| ||**£**|**£**|**£**|**£**|**£**| |CAP Malvern|15,429|44,726|(54,332)|33,715|39,538| |Staffing costs|20,000|41,000|(13,353)|-|47,647| |Youth|||||| |Evangelism|1,254|-|-|-|1,254| ||36,683|85,726|(67,685)|33,715|88,439| ||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1 January 2022**|**resources**|**expended**||**1 January 2023**| ||**£**|**£**|**£**|**£**|**£**| |CAP Malvern|28,851|26,894|(40,316)|-|15,429| |Staffing costs|-|20,000|-|-|20,000| |Youth|||||| |Evangelism|2,004|-|(750)|-|1,254| ||30,855|46,894|(41,066)|-|36,683| The restricted funds are derived from income received and expended to run the projects shown above. - 15 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **21 Unrestricted funds - designated** These are unrestricted funds which are material to the Church's activities. ||||**Movement in funds**|**Movement in funds**|||| |---|---|---|---|---|---|---|---| ||**Balance at**||**Incoming**|**Resources**|**Transfers**|**Balance at**|| ||**1 January 2023**||**resources**|**expended**||**31 December 2023**|| |||**£**|**£**|**£**|**£**||**£**| |Octagon|||||||| |activities||1,405|900|(2,055)|-||250| |Defibrilator||161|60|(229)|-||(8)| |Little|||||||| |Treasures||1,057|609|-|-||1,666| |Capital Fund|||||||| |Projects||312|-|-|-||312| |Blessings|||||||| |Fund||7,102|788|(3,525)|-||4,365| |Special|||||||| |Collections||962|2,205|(3,167)|-||-| |Bereavement|||||||| |Cafe||(616)|3,275|(3,946)|-||(1,287)| |Towards net|||||||| |zero|||||||| |preparation||-|8,000|-|-||8,000| |||10,383|15,837|(12,922)|-||13,298| ||**Balance at**||**Incoming**|**Resources**|**Transfers**|**Balance at**|| ||**1 January 2022**||**resources**|**expended**||**1 January 2023**|| |||**£**|**£**|**£**|**£**||**£**| |Octagon|||||||| |activities||2,049|1,600|(2,244)|-||1,405| |Defibrilator||101|60|-|-||161| |Little|||||||| |Treasures||530|527|-|-||1,057| |Capital Fund|||||||| |Projects||312|-|-|-||312| |Blessings|||||||| |Fund||7,917|2,247|(3,062)|-||7,102| |Special|||||||| |Collections||-|962|-|-||962| |Bereavement|||||||| |Cafe||-|1,719|(2,335)|||(616)| |||10,909|7,115|(7,641)|-||10,383| - 16 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**22**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
Fund balances at 31
December 2023 are
represented by:
Tangible assets
1,802
-
-
-
Investments
-
-
-
1,718
Current assets/(liabilities)
153,029
13,298
88,439
-
154,831
13,298
88,439
1,718|**Total**
Unrestricted
funds
Designated
funds
Restricted
funds
Endowment
funds
**2023**
2022
2022
2022
2022
**£**
£
£
£
£
1,802
5,768
-
-
-
1,718
-
-
-
1,570
254,766
121,533
12,627
36,682
-
258,286
127,301
12,627
36,682
1,570|Total
2022
£
5,768
1,570
170,842| |---|---|---| |||178,180| - 17 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **23 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 18 - **Financial Statements for Year Ended 31 December 2023** **Charity Registration No. 1128973** ## **ST ANDREW'S CHURCH, MALVERN** # **ANNUAL FINANCIAL STATEMENTS FOR THE** # **YEAR ENDED 31 DECEMBER 2023** **Financial Statements for Year Ended 31 December 2023** ## **ST ANDREW'S CHURCH, MALVERN** ## **CONTENTS** ||**Page**| |---|---| |Independent examiner's report|1| |Statement of financial activities|2 - 3| |Balance sheet|4| |Notes to the financial statements|5 - 18| **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST ANDREW'S CHURCH, MALVERN** I report to the trustees on my examination of the financial statements of St Andrew's Church, Malvern (the Church) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the trustees of the Church you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Church’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Church’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Church as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Elizabeth Needham ACA CTA (VAT) Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Dated: 10[th] April 2024 - 1 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **Current financial year** |**Unrestricted Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**2023**
**Notes**
**£**
**£**
**£**
**£**
**Income and endowments from:**
Grants and legacies
**3**
-
8,000
51,000
-
Church activities
**4**
24,837
5,632
1,380
-
Voluntary income
**6**
220,081
2,205
33,113
-
Investments
**7**
1,066
-
233
-
Other incoming
resources
**5**
16,757
-
-
-
**Total income**
262,741
15,837
85,726
-
**Expenditure on:**
Charitable activities
**8**
203,739
12,922
67,685
-
Net gains/(losses) on
investments
**11**
-
-
-
148
**Net incoming**
**resources before**
**transfers**
59,002
2,915
18,041
148
Gross transfers between
funds
**14**
(33,715)
-
33,715
-
**Net movement in funds**
25,287
2,915
51,756
148
Fund balances at 1
January 2023
129,544
10,383
36,683
1,570
**Fund balances at 31**
**December 2023**
154,831
13,298
88,439
1,718|**Total**
**2023**
**£**
59,000
31,849
255,399
1,299
16,757
364,304
284,346
148
80,106
-
80,106
178,180
258,286|Total
2022
**£**
-
28,181
232,025
172
8,960
269,338
235,652
(210)
33,476
-
33,476
144,704
178,180| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 2 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Prior financial year**
**Unrestricted Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**funds**
**general**
**designated**
**2022**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**£**
**Income and endowments from:**
Church activities
**4**
21,323
6,153
705
-
Voluntary income
**6**
184,874
962
46,189
-
Investments
**7**
172
-
-
-
Other incoming resources
**5**
8,960
-
-
-
**Total income**
215,329
7,115
46,894
-
**Expenditure on:**
Charitable activities
**8**
186,945
7,641
41,066
-
Net gains/(losses) on investments
**11**
-
-
-
(210)
**Net incoming resources before**
**transfers**
28,384
(526)
5,828
(210)
**Net movement in funds**
28,384
(526)
5,828
(210)
Fund balances at 1 January 2022
101,160
10,909
30,855
1,780
**Fund balances at 31 December**
**2022**
129,544
10,383
36,683
1,570|**Total**
**2022**
**£**
28,181
232,025
172
8,960
269,338
235,652
(210)
33,476
33,476
144,704
178,180| |---|---| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 3 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**15**
Investments
**16**
**Current assets**
Debtors
**17**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**18**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
**19**
**Income funds**
General restricted funds
**20**
Unrestricted funds
Designated funds
**21**
General unrestricted funds
**22**|**2023**
**£**
4,652
259,913
264,565
(9,799)
88,439
13,298
154,831|**£**
1,802
1,718
3,520
254,766
258,286
1,718
88,439
168,129
258,286|**2022**
**£**
6,221
169,671
175,892
(5,050)
36,683
10,383
129,544|**£**
5,768
1,570| |---|---|---|---|---| |||||7,338
170,842| |||||178,180| |||||1,570
36,683
139,927| |||||178,180| The financial statements were approved by the Trustees at their meeting on 11[th] April 2024 Rev D C Bruce MA **Chair** Dr D H Barnes **Deputy Chair** - 4 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** St Andrew's Church, Malvern is an unincorporated charity and its office is Churchdown Road, Malvern, WR14 3JX. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", having regard to the Church Representation Rules (last updated 2020) The Church is a Public Benefit Entity as defined by FRS 102. The Church has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Church. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the Church has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are 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 set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Church. ## **1.4 Income** Income is recognised when the Church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. - 5 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** **(Continued)** Legacies are recognised on receipt or otherwise if the Church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.5 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Equipment used within the church premises (including the Church Centre and the Chase Team Office) is depreciated on a straight line basis over four years. Individual items of equipment with a purchase price of £1,500 or less are written off when the asset is acquired. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Consecrated and benefice property is not included in the accounts by virtue of s96(2)(a) of the Charities Act 1993. 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. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.7 Impairment of fixed assets** At each reporting end date, the Church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 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. - 6 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.9 Financial instruments** The Church 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 Church's balance sheet when the Church becomes party to the contractual provisions of the instrument. ## _**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. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Church’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Church is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the Church’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. - 7 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **3 Grants and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**designated**
**2023**
**2023**
**£**
**£**
Donations and gifts
2,205
13,000
Legacies receivable
8,000
-
Grant income
-
51,000
10,205
64,000
**Legacies receivable**
H.E Baxter legacy gift
8,000
-
8,000
-
**Grants receivable for core activities**
MHDC grant for CAP
-
10,000
Worcester Diocese re salaries
-
41,000
-
51,000|**Total**
**2023**
**£**
16,899
8,000
51,000
75,899
8,000
8,000
10,000
41,000
51,000|Total
2022
£
46,002
-
-| |---|---|---| |||46,002| |||-| |||-| |||-
-| |||-| - 8 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **4 Church activities** ||**Church**|**Church**| |---|---|---| ||**activities**|**activities**| ||**2023**|**2022**| ||**£**|**£**| |Activities|5,543|8,188| |Weddings and funerals|3,440|1,893| |Miscellaneous income|60|60| |Blessings fund|788|2,247| |Church centre hiring|17,843|12,474| |Octagon coffee shop|900|1,600| |Bereavement cafe income|3,275|1,719| ||31,849|28,181| |Analysis by fund||| |Unrestricted funds - general|24,837|21,323| |Unrestricted funds- designated|5,632|6,153| |Restricted funds|1,380|705| ||31,849|28,181| ## **5 Other income** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| ||**£**|**£**| |All Saints expenses share and other income|16,757|8,960| - 9 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **6 Voluntary income** |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**2023**
**£**
**£**
**£**
Planned offerings
181,486
-
14,558
Other offerings
5,275
-
2,945
Donations
1,694
2,205
13,000
Gift aid
31,626
-
2,610
Voluntary income
220,081
2,205
33,113|**Total**
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
**2023**
2022
2022
2022
**£**
£
£
£
196,044
135,071
-
13,570
8,220
2,166
-
5,000
16,899
20,293
962
24,747
34,236
27,344
-
2,872
255,399
184,874
962
46,189|Total
2022
£
148,641
7,166
46,002
30,216| |---|---|---| |||232,025| - 10 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **7 Income from investments** ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**||**funds**|**funds**|| ||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Interest receivable|1,066|233|1,299|172|-|172| ## **8 Charitable activities** ||**Church**|**Church**| |---|---|---| ||**activities**|**activities**| ||**2023**|**2022**| ||**£**|**£**| |Staff costs|94,287|60,853| |Depreciation and impairment|3,966|7,560| |Ministry share|83,850|76,500| |Church 'away' giving|17,359|23,114| |Clergy expenses and service costs|8,026|3,784| |Weddings and funerals (WDBF)|1,657|941| |Office costs|5,354|3,286| |Youth and childrens work|3,538|2,087| |Mission and community|36,309|20,798| |Buildings running and maintenance costs|10,049|6,051| |Miscellaneous|2,353|2,266| |Bereavement cafe expenditure|3,946|2,335| |Gift to All Saints Church|-|15,000| |Octagon activities|2,055|2,244| |Light and heat|10,427|7,663| ||283,176|234,482| |Share of support costs (see note 10)|480|480| |Share of governance costs (see note 10)|690|690| ||284,346|235,652| |**Analysis by fund**||| |Unrestricted funds - general|203,739|186,945| |Unrestricted funds-designated|12,922|7,641| |Restricted funds|67,685|41,066| ||284,346|235,652| - 11 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **9 Trustees** Payments to PCC Members: None (excludes reimbursement for expenses). The expenses paid to clergy may include a small immaterial proportion which related to their function as a PCC member ## **10 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
480
-
Independent examination
fees
-
690
480
690
Analysed between
Charitable activities
480
690|**2023**Support costs Governance
costs
**£**
£
£
480
480
-
690
-
690
1,170
480
690
1,170
480
690|2022
£
480
690| |---|---|---| |||1,170| |||1,170| ## **11 Gains and losses on investments** ||**Endowment**|**Endowment**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|148|(210)| ## **12 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 12 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **13 Employees** ## **Number of employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| |Average number of employees|6|6| |Full time equivalents number of employees|4|4| |**Employment costs**|**2023**|**2022**| ||**£**|**£**| |Wages and salaries|93,073|60,376| |Other pension costs|1,214|477| ||94,287|60,853| Two employees are related to CAP activity. Total wages £25,304 including £373 re pension costs.Two employees are related to Youth work. Total wages £27,246. There were no employees whose annual remuneration was £60,000 or more. ## **14 Transfers** The transfer between funds represents the amount needed to reflect the amounts held in bank accounts for CAP. ## **15 Tangible fixed assets** |**Hall**
**Equipment**
**Church**
**Equipment**
**£**
**£**
**Cost**
At 1 January 2023
20,336
14,446
At 31 December 2023
20,336
14,446
**Depreciation and impairment**
At 1 January 2023
17,719
11,295
Depreciation charged in the year
2,617
1,349
At 31 December 2023
20,336
12,644
**Carrying amount**
At 31 December 2023
-
1,802
At 31 December 2022
2,617
3,151|**Total**
**£**
34,782| |---|---| ||34,782| ||29,014
3,966| ||32,980| ||1,802| ||5,768| **16 Fixed asset investments** - 13 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**16**
**Fixed asset investments**
**Cost or valuation**
At 1 January 2023
Valuation changes
At 31 December 2023
**Carrying amount**
At 31 December 2023
At 31 December 2022
**17**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
**18**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Accruals and deferred income|**(Continued)**
**Listed**
**investments**
**£**
1,570
148
1,718
1,718
1,570
**2023**
**2022**
**£**
**£**
4,652
6,221
**2023**
**2022**
**£**
**£**
800
994
729
1,158
8,270
2,898
9,799
5,050| |---|---| ## **19 Endowment funds** Endowment funds represent assets which must be held permanently by the Church. Income arising on the endowment funds can be used in accordance with the objects of the Church and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. ||**At**|**1**|**January**|**Gains and**|**At 31**| |---|---|---|---|---|---| ||||**2023**|**losses**|**December**| ||||||**2023**| ||||**£**|**£**|**£**| |**Permanent endowments**|||||| ||||1,570|148|1,718| - 14 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**19**|**Endowment funds**|||**(Continued)**| |---|---|---|---|---| ||**Previous year:**|**At 1 January**|**Gains and**|**At 31**| |||**2022**|**losses**|**December**| |||||**2022**| |||**£**|**£**|**£**| ||**Permanent endowments**|||| |||1,780|(210)|1,570| ## **20 Restricted funds** to how they may be used. |||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---| ||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1 January 2023**|**resources**|**expended**||**31 December 2023**| ||**£**|**£**|**£**|**£**|**£**| |CAP Malvern|15,429|44,726|(54,332)|33,715|39,538| |Staffing costs|20,000|41,000|(13,353)|-|47,647| |Youth|||||| |Evangelism|1,254|-|-|-|1,254| ||36,683|85,726|(67,685)|33,715|88,439| ||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1 January 2022**|**resources**|**expended**||**1 January 2023**| ||**£**|**£**|**£**|**£**|**£**| |CAP Malvern|28,851|26,894|(40,316)|-|15,429| |Staffing costs|-|20,000|-|-|20,000| |Youth|||||| |Evangelism|2,004|-|(750)|-|1,254| ||30,855|46,894|(41,066)|-|36,683| The restricted funds are derived from income received and expended to run the projects shown above. - 15 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **21 Unrestricted funds - designated** These are unrestricted funds which are material to the Church's activities. ||||**Movement in funds**|**Movement in funds**|||| |---|---|---|---|---|---|---|---| ||**Balance at**||**Incoming**|**Resources**|**Transfers**|**Balance at**|| ||**1 January 2023**||**resources**|**expended**||**31 December 2023**|| |||**£**|**£**|**£**|**£**||**£**| |Octagon|||||||| |activities||1,405|900|(2,055)|-||250| |Defibrilator||161|60|(229)|-||(8)| |Little|||||||| |Treasures||1,057|609|-|-||1,666| |Capital Fund|||||||| |Projects||312|-|-|-||312| |Blessings|||||||| |Fund||7,102|788|(3,525)|-||4,365| |Special|||||||| |Collections||962|2,205|(3,167)|-||-| |Bereavement|||||||| |Cafe||(616)|3,275|(3,946)|-||(1,287)| |Towards net|||||||| |zero|||||||| |preparation||-|8,000|-|-||8,000| |||10,383|15,837|(12,922)|-||13,298| ||**Balance at**||**Incoming**|**Resources**|**Transfers**|**Balance at**|| ||**1 January 2022**||**resources**|**expended**||**1 January 2023**|| |||**£**|**£**|**£**|**£**||**£**| |Octagon|||||||| |activities||2,049|1,600|(2,244)|-||1,405| |Defibrilator||101|60|-|-||161| |Little|||||||| |Treasures||530|527|-|-||1,057| |Capital Fund|||||||| |Projects||312|-|-|-||312| |Blessings|||||||| |Fund||7,917|2,247|(3,062)|-||7,102| |Special|||||||| |Collections||-|962|-|-||962| |Bereavement|||||||| |Cafe||-|1,719|(2,335)|||(616)| |||10,909|7,115|(7,641)|-||10,383| - 16 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**22**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
Fund balances at 31
December 2023 are
represented by:
Tangible assets
1,802
-
-
-
Investments
-
-
-
1,718
Current assets/(liabilities)
153,029
13,298
88,439
-
154,831
13,298
88,439
1,718|**Total**
Unrestricted
funds
Designated
funds
Restricted
funds
Endowment
funds
**2023**
2022
2022
2022
2022
**£**
£
£
£
£
1,802
5,768
-
-
-
1,718
-
-
-
1,570
254,766
121,533
12,627
36,682
-
258,286
127,301
12,627
36,682
1,570|Total
2022
£
5,768
1,570
170,842| |---|---|---| |||178,180| - 17 - **Financial Statements for Year Ended 31 December 2023 ST ANDREW'S CHURCH, MALVERN** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **23 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 18 -