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2021-12-31-accounts

REGISTERED CHARITY NUMBER: 1130291

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, OLD HILL

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Contents of the Financial Statements for the Year Ended 31 December 2021

Page
Report of the Trustees 1-7
Independent Examiner’s Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11-22

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Report of the Trustees for the Year Ended 31 December 2021

The PCC members (the trustees) present their annual report and accounts for the year ended 31 December 2021 which comply with the Church Accounting Regulations 2006 and the Charity Commission’s Statement of Recommended Practice.

REFERENCE AND ADMINISTRATIVE DETAILS

Holy Trinity Church sits within the Greater Dudley Deanery and is part of the Diocese of Worcester within the Church of England. The correspondence address is Holy Trinity Church, Halesowen Road, Cradley Heath, West Midlands, B64 6JA.

The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity, Old Hill, is a Registered Charity, number 1130291.

Our vision statement, as developed by the PCC, is

“Our communities transformed by Jesus”

The vitality of our church life, with our building set in the context of one of the 10% most multiply deprived neighbourhoods in England, is summarised below in our “Review of the Year”.

PCC members who have served during the period from 1 January 2021 until the date this report was approved were:

Incumbent The Reverend Nick Gowers (Chair)
Churchwardens Helen Bessant
Terry Graham
Deanery Synod Representatives Philip Adams (Electoral Roll Officer)
Alan Sanders
Diocesan Synod Member Alan Sanders
Elected members Stephen Baker (from 21 April 2021)
Andrew Bessant
Jonathan Billington (to 18 January 2021)
Yvonne Binder
Rachel Ford (Vice Chair)
Kenny Frost
David Hadlington (from 21 April 2021)
Robert Higham
Charles Hindley (from 21 April 2021)
Anita Mansell
Tim Pennifold
PCC Secretary Anita Mansell
Treasurer Annie Stanford (not a PCC member)
Safeguarding Officer Rachel Ford

1

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Report of the Trustees for the Year Ended 31 December 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council (Powers) Measure, the Church Representation Rules and, among other legislation, the Charities Act.

The Annual Parochial Church Meeting (APCM) and the Annual Meeting of Parishioners were held on 21 April 2021 partly by video conference under the emergency provisions made by the Bishop of Worcester throughout the diocese during the COVID pandemic.

All Church attendees are encouraged to register on the Electoral Roll. The number on the electoral roll on the date of the APCM in 2021 was 154 compared to 148 in the previous year (at 21 October 2020), 11 new names had been added and 5 were removed due to relocations.

Nomination for election to the PCC is open to all members of the Roll who are eligible to stand. New PCC members receive initial training about their roles and responsibilities in the context of an induction of the whole PCC at its first substantive meeting following the APCM.

The Standing Committee consists of the Incumbent, Churchwardens and at least two other PCC members (Yvonne Binder (from 21 April 2021), Anita Mansell, Rachel Ford and Alan Sanders). This is the only committee required by law and has the power to transact business of the PCC between its meetings, subject to any direction of the Council.

The PCC has also appointed four committees:

We divide our main mission into three “ministry areas”. These are: Children and Youth, Adults and Corporate Worship. These are supported by six support teams (Administration, Events, Finance, Infrastructure, Mission and Standing Committee) to co-ordinate work which involves some 63 volunteers.

The PCC met on 12 occasions during 2021 including having established arrangements for video conferencing in accordance with guidance from the Charity Commission and the Archbishops’ Council. The committees and support teams also met regularly and reported back to the PCC.

2

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Report of the Trustees for the Year Ended 31 December 2021

OBJECTIVES AND ACTIVITIES

The PCC has the responsibility of cooperating with the incumbent, the Revd Nick Gowers, 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 of the church building and church centre.

The powers conferred on the PCC include responsibility for the financial affairs of the church including the collection and administration of all moneys raised for church purposes; the keeping of the accounts; and the power to acquire, manage and administer property for church purposes. The PCC is also given power to determine how money will be spent and to appoint and dismiss church staff members and to determine their salaries and conditions of service.

The PCC confirms it has complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance on public benefit published by the Charities Commission. The PCC is also aware of the Charity Commission's guidance on public benefit in "The Advancement of Religion for the Public Benefit" and has regard to it in its administration of the Parish. The PCC believes that, by fulfilling its responsibility to work together with the Incumbent and co-operate in all matters of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic and social, and ecumenical it provides a benefit to the public by:

To fulfil these obligations, the PCC is committed to enabling as many people as possible to worship at Holy Trinity Church on Sunday and to reaching out with the love of Jesus to the local community through our midweek activities.

The PCC confirms it has complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance on public benefit published by the Charities Commission. The PCC is also aware of the Charity Commission's guidance on public benefit in "The Advancement of Religion for the Public Benefit" and has regard to it in its administration of the Parish. The PCC believes that, by fulfilling its responsibility to work together with the Incumbent and co-operate in all matters of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic and social, it provides a benefit to the public by:

To fulfil these obligations, the PCC is committed to enabling as many people as possible to worship at Holy Trinity Church on Sunday and to reaching out with the love of Jesus to the local community through our midweek activities.

The PCC is aware of its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have due regard to House of Bishops' guidance on safeguarding children and vulnerable adults. Since 2019 the PCC has used the diocesan "Safeguarding Dashboard" to self-assess its compliance with that duty. The dashboard contains a developmental aspect and throughout 2021 we made progress towards “level three”. The PCC’s appointed Parish Safeguarding Officer (PSO) and Parish Administrator (who is the Safeguarding Administrator) are in regular liaison with the diocesan safeguarding team including submission of the toolkit assessment, processing of DBS checks and taking the advice of the Diocesan Safeguarding Adviser and/or their Assistants. The Administrator monitors and prompts the need for ongoing safeguarding training and DBS checks. In 2021, our priorities were working towards the implementation of the updated Safer Recruitment Processes and keeping the parish dashboard up to date with activities which were put on hold due to Covid and then subsequently re-started. In the light of the COVID-19 pandemic, practices developed in 2020 following diocesan guidance, were followed for safeguarding in the context of on-line activities for children, young people and vulnerable adults. The PCC completed its annual review of its safeguarding policy at its meeting held on 22nd February 2022.

3

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Report of the Trustees for the Year Ended 31 December 2021

REVIEW OF THE YEAR

2021 commenced with a COVID-19 pandemic national lockdown such that the church building was closed for public worship after Sunday 3 January 2021 and did not reopen until Sunday 7 March with “COVID secure” precautions.

Throughout 2021 our normal Sunday morning services were livestreamed and made available for “catch up” on our YouTube channel at http://holytrinity.tv. The Sunday evening services were similarly made available on online up to the end of August following which that service moved back into the church centre. The experience and expertise of our AV Team, in part gained in 2020, has been invaluable in maintaining the worshipping life for those who feel they are unable to meet together in person during the continued COVID pandemic. We also continued to distribute recordings of our services to those who are housebound and without Internet connection. During times of restrictions we also held some gatherings, such as prayer meetings, study / home groups & PCC meetings, together with “after service chat” online via Zoom.

From early January and throughout February our services were only livestreamed, we then opened up in March on a “socially distanced” basis. Morning services were pitched to be “all age” including children’s activities on worksheets in the pew or at home as our children’s groups on Sundays did not reopen until September when we reverted to our normal pattern of services.

This unusual pattern of church activities makes it difficult to compare numerical “year on year” statistics. However on a very broad brush basis comparing pre-lockdown attendances in January to mid- March 2020 with post lockdown ones in September to November 2021 on an average Sunday our public worship involved:

23 children and young people (14 in 2020)

Over 2021 our YouTube “subscribers” increased by 28 to 295. A total of 3,516 hours was watched, of which 425 hours were from outside the UK, with 37.6% watching via a mobile phone, 27.9% by computer, 20.3% on a Smart TV and 13.4% with a tablet. Where known, the biggest age group watching was 35-44 year olds (29.1%), followed by 65+ year olds (19.5%).

Throughout the pandemic the PCC has kept the needs and opportunities for mission and ministry under review. Consistent with our holistic approach to meet spiritual as well as physical and social needs as part of the Old Hill community, “normal” church life continued to be adapted and refocused with:

4

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Report of the Trustees for the Year Ended 31 December 2021

REVIEW OF THE YEAR (continued…)

Our church centre is normally used by other community organisations. During 2021, three groups were able to restart and continue to the end of the year.

FINANCIAL REVIEW

Patterns of income and expenditure were significantly affected because of the lockdowns and other restrictions caused by the COVID-19 pandemic. The PCC continued to assess and adapt to the budgetary consequences of the pandemic, including those related to building closure and grant availability, to seek to ensure its ongoing financial viability.

Total incoming resources for the year were £185,700 (2020 - £200,094) of which £171,867 (2020 - £166,222) was from voluntary giving. Total expenditure increased by £5,289 from £177,276 to £182,565. This has resulted in an unrestricted surplus, after transfers, of £2,424 for the year (2020: unrestricted surplus £1,460).

The PCC is hugely appreciative of the level of giving its church members, which, with Gift Aid, was £171,867 for the year (£166,222 in 2020). This reflected continued support in prayer and sacrificial giving through very challenging times both in terms of continuing socially distanced ways to relate to each other as a “church family” and, for some, pressures on personal finances. We continued to encouraged cashless ways of giving and, for example, there were 33 donors using the Parish Giving Scheme by the end of the year.

5

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Report of the Trustees for the Year Ended 31 December 2021

FINANCIAL REVIEW (continued…)

In 2020 all the planned maintenance work to the church and church centre could not be carried because of the disruption caused by the pandemic. So at that year’s end a designated building maintenance fund of £7,724, equal to the unspent budget, was created from the 2020 unrestricted surplus to enable that maintenance to be undertaken by the end of 2021. The pandemic persisted in 2021 and work started in October 2021 to repair the west window which will be completed in 2022. This designated building maintenance fund has now been extended from the 2021 unrestricted surplus to provide £2,916 for the balance of the west window repairs, plus £2,228 being the unspent balance of the 2021 planned maintenance budget and £1,000 towards increased general maintenance costs in 2022 anticipated due to increased inflation.

INVESTMENT POLICY

The PCC's investment policy and investments are reviewed at least annually by the members. The PCC seeks a good level of income and long-term protection from inflation without exposing capital to undue risk. The current policy is to invest liquid assets in the CCLA’s Church of England Central Board of Finance funds and low risk deposit accounts. Investments in the CCLA CBF Investment Income Fund are part of the PCC’s reserves so the PCC pays heed to the CCLA’s commentary that investors should be looking to invest for at least five years. As the Curate’s House is not currently required to house a curate it is held as an investment asset generating rental income needed for the current budget and also for capital growth.

RESERVES POLICY

The PCC’s policy is to hold reserves of three months running costs consisting salaries (including employers’ NI and pensions), Parish Share, clergy expenses, cleaning, insurance and utilities, in its unrestricted or relevant restricted funds (and excluding designated funds). The position at 31 December 2021 was that £39,098 was held in this way as cash or readily realisable investments (£36,674 at 31 December 2020) which represents 3.5 months of such running costs (2020: 3.5 months). This also provides for cashflow purposes. Reserves not anticipated to be drawn upon in the short term are subject to the PCC’s Investment Policy.

RISK ASSESSMENT

In its decision taking the PCC seeks to identify and mitigate or manage the risks to which it might be exposed. The PCC seeks to review its Safeguarding and Health and Safety policies on an annual basis, but the PCC’s Parish Safeguarding Officer and the PCC’s Health and Safety Working Group have delegated authority to manage these areas on a day-to-day basis. Financial risks are regularly reviewed by the PCC and are under the day-to-day control of the Treasurer who is supported by the meetings of the Finance Team.

6

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Report of the Trustees for the Year Ended 31 December 2021

PCC MEMBERS’ RESPONSIBILITIES

The PCC members are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the PCC members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the incoming resources and application of resources of the PCC for that period. In preparing these financial statements, the PCC members are required to:

The PCC members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Parochial Church Council on 23 March 2022 and signed on its behalf by:

Nick Gowers

The Revd Nick Gowers - Chair

7

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Independent Examiner’s Report to the Trustees

for the Year Ended 31 December 2021

Independent Examiner’s Report to the Trustees of The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill for the Year Ended 31 December 2021

I report to the charity trustees of The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill on my examination of the accounts of the PCC for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act and the Church Accounting Regulations 2006.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts to be reached.

Richard Dunkley

Richard Dunkley FCCA CTA RD Accounting Ltd 12C Two Locks Hurst Business Park Brierley Hill DY5 1UU

Date : 29 March 2022

8

The Parochial Church Council of

The Ecclesiastical Parish of Holy Trinity, Old Hill

Statement of Financial Activities

for the Year Ended 31 December 2021

Unrestricted Designated Restricted 2021 2020
funds funds funds Total Total
Note £ £ £ £ £
Income and endowments from:
Donations and legacies 2 154,552 - 20,835 175,387 186,911
Charitable activities 3 3,460 - - 3,460 6,104
Investments 4 591 - 6,262 6,853 7,079
Total income and endowments 158,603 - 27,097 185,700 200,094
Expenditure on:
Charitable activities 5 148,896 2,660 31,009 182,565 177,276
Total expenditure 148,896 2,660 31,009 182,565 177,276
Net gains / (losses) on investments 10/11 (401) - 20,000 19,599 10,982
Net income / (expenditure) 9,306 (2,660) 16,088 22,734 33,800
Transfers between funds 16 (6,882) 6,144 738 - -
Net movement in funds 14 2,424 3,484 16,826 22,734 33,800
Reconciliation of funds:
Total funds brought forward 14 31,674 7,724 204,962 244,360 210,560
Total funds carried forward 14 34,098 11,208 221,788 267,094 244,360

All income and expenditure derive from continuing activities.

9

The Parochial Church Council of

The Ecclesiastical Parish of Holy Trinity, Old Hill

Balance Sheet

for the Year Ended 31 December 2021

Fixed assets
Note
Tangible assets
9
Investment property
11
Current assets
Investments
10
Debtors
12
Cash at bank and in hand
Creditors:
Amounts falling due within one year
13
Net current assets / (liabilities)
Total assets less current liabilities
Net Assets
Funds
Unrestricted funds
14
Designated funds
14
Restricted Funds (incl. unrealised
gains of £186,500)
14
Total funds
14		 Unrestricted
funds
Designated
funds
Restricted
funds
£
£
£
-
-
-
-
-
190,000		 2021
Total
£
-
190,000
190,000
22,727
3,633
54,833
81,193
4,099
4,099
77,094
267,094
267,094
34,098
11,208
221,788
267,094		 2020
Total
£
-
170,000
-
-
190,000
18,582
-
4,145
3,511
-
122
13,444
13,868
27,521		 170,000
25,595
3,062
68,942
35,537
13,868
31,788
1,439
2,660
-		 97,599
(23,239)
1,439
2,660
-
34,098
11,208
31,788		 (23,239)
74,360
34,098
11,208
221,788		 244,360
34,098
11,208
221,788		 244,360
34,098
-
-
-
11,208
-
-
-
221,788		 31,674
7,724
204,962
34,098
11,208
221,788		 244,360

The financial statements were approved by the PCC on 23 March 2022 and were signed on its behalf by:

Nick Gowers

The Revd Nick Gowers – Chair

10

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES

General information and basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) “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 2015 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Church Accounting Regulations 2006 and UK Generally Accepted Accounting Practice.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements have been prepared on a going concern basis under the historical cost convention except for the valuation of investments which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Incoming Resources

All incoming resources are included in the SOFA when the church becomes legally entitled to the income and when the amount can be quantified with reasonable certainty.

Planned giving, collections and donations are recognised when received by or on behalf of the PCC. Grants and legacies are recognised when the PCC is legally entitled to the amount due. Dividends are recognised when received and interest is accrued. All other income is recognised when received. All incoming resources are accounted for gross.

Income tax recoverable on gift aid donations is accounted for when the donation is received, not when the tax refund is received.

Amounts specifically received for mission are dealt with as restricted funds.

Realised gains or losses on investments are recognized when the investment is sold. Unrealised gains or losses on investments are accounted for on the valuation of investments at the year end.

Resources expended

Grants and donations are accounted for when they are paid over, or when awarded, if that aware creates a binding or constructive obligation on the PCC. The Diocesan Parish Share is accounted for when due. All other expenditure is generally recognized when it is incurred and is accounted for gross. Church activities expenses consist of costs incurred in undertaking the PCC’s work to meet its objectives.

Investments

Investments quoted on a recognised stock exchange or whose value derives from them (CIFs, etc) are valued at market value at the year end. Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value are noted in a revaluation reserve.

11

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES (continued)

Tangible Fixed Assets

Equipment used within the church premises is included at cost and depreciated on the following basis in order to write the asset off over its estimated useful life:

Computer Equipment – 33% on cost

Items of equipment costing under £500 are written off when the asset is acquired

Liabilities

Liabilities are recognised as soon as the legal or constructive obligation arises.

Taxation

The charity is exempt from tax.

Funds

General Funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purpose of the PCC. Funds designated by the PCC for a particular purpose are also considered unrestricted.

Restricted Funds represent income which may be expended only on the specific object for which they were given. Any balance remaining unspent at the end of each year much be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on the average balance basis where the fund is for restricted purposes only.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities.

Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

12

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

2. GRANTS, DONATIONS AND LEGACIES

Unrestricted Designated Restricted Total Total
Funds Funds Funds 2021 2020
£ £ £ £ £
Donations 132,028 - 15,785 147,813 142,084
Gift Aid 22,524 - 1,530 24,054 24,138
Grants - - 3,520 3,520 20,689
--------- --------- --------- --------- ----------
154,552 - 20,835 175,387 186,911
===== ===== ===== ===== ======

3. INCOME FROM CHARITABLE ACTIVITES

Unrestricted Designated Restricted Total Total
Funds Funds Funds 2021 2020
£ £ £ £ £
Letting income 2,860 - - 2,860 2,634
Fees 237 - - 237 3,081
Clubs, weekend events and fundraising 363 - - 363 389
--------- --------- --------- --------- ----------
3,460 - - 3,460 6,104
===== ===== ===== ===== ======

4. INCOME FROM INVESTMENTS

Unrestricted Designated Restricted Total Total
Funds Funds Funds 2021 2020
£ £ £ £ £
Dividends 239 - 105 344 836
Bank interest 352 - - 352 50
Curate’s House rental income - - 6,157 6,157 6,193
-------- --------- --------- --------- ----------
591 - 6,262 6,853 7,079
===== ===== ===== ===== ======

13

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

5. EXPENDITURE

Unrestricted Designated Restricted Total Total
Funds Funds Funds 2021 2020
£ £ £ £ £
Missionary and Charitable giving 14,414 - - 14,414 14,751
Ministry – Diocesan Parish Share 74,341 - - 74,341 74,341
Ministry – Clergy expenses 549 - - 549 1,411
Salaries & associated costs 27,275 - 21,154 48,429 55,878
Church running expenses 20,983 - 7,316 28,299 19,932
Church maintenance 7,772 2,660 - 10,432 2,008
Telephone, printing & stationary 1,878 - - 1,878 2,128
Training 50 - - 50 160
Accountancy and Independent 1,200 - - 1,200 1,200
examiners fee
Accountancy and Independent examiners - - - - 72
fee – prior year
Curate’s House maintenance - - 949 949 1,134
Computer equipment 140 - - 140 1,771
Building improvements feasibility 294 - 1,590 1,884 2,490
--------- --------- --------- --------- ----------
148,896 2,660 31,009 182,565 177,276
===== ===== ===== ===== ======

6. TRUSTEES’ REMUNERATION AND BENEFITS

There was one member of the PCC who received remuneration or other benefits for their work as an employee the PCC (but not for their duties as an elected PCC member) for the year ended 31 December 2021: Charles Hindley £15,108 (PCC employee throughout 2021, PCC member from 21 April 2021).

7. TRUSTEES’ EXPENSES

Three trustees were reimbursed expenses amounting to £61 (2020: £245) for the year ended 31 December 2021. Such expenses included supplies, travel costs, refreshments, training, telephone and small maintenance costs.

Members of the PCC who make purchases on behalf of the PCC using their own money are reimbursed for that expenditure only on production of invoices for the purchases involved.

14

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

8. STAFF COSTS

Unrestricted Designated Restricted Total Total
Funds Funds Funds 2021 2020
£ £ £ £ £
Wages and Salaries 27,275 - 21,154 48,429 55,878
--------- --------- --------- --------- ----------
27,275 - 21,154 48,429 55,878
===== ===== ===== ===== ======

The average number of staff during the year was 4[(2020: 5)]

9. TANGIBLE FIXED ASSETS

Cost
As at 1 January 2021
As at 31 December 2021
Depreciation
As at 1 January 2021
As at 31 December 2021
Net Book Value at 31 December 2021
Net Book Value at 1 January 2021		 Computer
Equipment

£
839
----------
839
======
839
--------
839
=====
-
======
-
======

10. CURRENT ASSET INVESTMENTS

Brought forward at 1 January 2021
Additions
Disposals
Loss on disposal
Revaluation at 31 December 2021

Carried forward at 31 December 2021
Restricted
Unrestricted		 F SHARES
£
21,970
-
(20,938)
(1,032)
-
---------
-
======
-
-
---------
-
======		 S SHARES
£
3,626
18,470
-
-
631
---------
22,727
======
4,145
18,582
---------
22,727
======

15

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

CURRENT ASSET INVESTMENTS (continued…)

Current asset investments consist of the following shares:

177 CCLA CBF “S” Investment Fund Income Shares held in the Curate’s House Income Fund valued at 2341 pence each at 31 December 2021

793.49 CCLA CBF “S” Investment Fund Income Shares held in the Unrestricted General Fund valued at 2341 pence each at 31 December 2021

During the year 12,952 CCLA “F” Fixed Interest Securities Fund Income Shares were sold generating sale proceeds of £20,938 and a net loss of £1,032. The sale proceeds were largely invested into CCLA “S” shares with the residual proceeds of £2,468 being held in the CCLA Deposit account.

11. INVESTMENT PROPERTY

£
Market value at 1 January 2021 170,000
2021 revaluation 20,000
----------
Market value at 31 December 2021 190,000
=======

Market value at 31 December 2021

12.

DEBTORS

DEBTORS
2021 2020
Prepayments 3,242 3,062
Other debtors 391 -
--------- ---------
3,633 3,062
====== =====
Restricted 122 433
Unrestricted 3,511 2,629
--------- ---------
3,633 3,062
====== =====

.

16

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
Mission Giving - 14,751
Social Security and other taxes 239 245
Fees payable - 211
Accruals – Independent Examiner fee 1,200 1,200
Accruals – HR advice - 386
Accruals – Tower Roof final costs - 6,446
Accruals – West Window repairs (25% complete) 2,660 -
--------- ---------
4,099 23,239
====== ======
Restricted 1,439 750
Designated 2,660 -
Unrestricted - 22,489
--------- ---------
4,099 23,239
====== ======

14. MOVEMENT IN FUNDS

Unrestricted Funds
General fund
Designated Building Maint. Fund
Restricted Funds
Curate’s House
Curate’s House Income Fund
R&R Fund
Organ Fund
Youth Worker Fund
Youth Fund
Money & Debt Advice Centre Fund
Foodbank Fund
Mental Health Fund
Toilets Fund
Other Funds
TOTAL FUNDS		 Balance at
01.01.2021
Incoming
resources
Resources
expended
Gains /
(losses) on
investments
Transfers
between
funds
Balance at
31.12.2021
£
£
£
£
£
£
31,674
158,603
148,896
(401)
(6,882)
34,098

7,724
-
2,660
-
6,144
11,208
39,398
158,603
151,556
(401)
(738)
45,306
170,000
-
-
20,000
-
190,000
5,000
6,262
949
-
(5,313)
5,000
9,628
3,600
1,590
-
-
11,638
2,256
-
360
-
-
1,896
-
8,380
14,433
-
6,053
-
2,000
54
1,452
-
-
602
13,000
-
8,760
-
-
4,240
2,975
630
3,124
-
-
481
-
3,771
341
-
-
3,430
-
4,400
-
-
-
4,400
105
-
-
-
-
105
204,962
27,097
31,009
20,000
738
221,788
244,360
185,700
182,565
19,599
-
267,094

17

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements for the Year Ended 31 December 2021

15. FUND DETAILS

Restricted funds are held for the following purposes:

Curate’s House

The Curate’s House (15 Highland Road) represents a restricted fund of £190,000 (2020: £170,000) and during the year was not required for use as a residence of a curate. In these circumstances the property can be used for (1) any ecclesiastical purpose affecting the parish or any part of the parish, or (2) for any purpose in connection with an education scheme, providing facilities for the spiritual, moral and physical training of persons residing in or near the parish. If the property is sold, the net proceeds and the income from it is required to be used for the same purposes. The property is owned by Old Hill PCC as managing trustees, but the legal title is vested in the Worcester Diocesan Board of Finance Limited as diocesan authority as required by the Parochial Church Councils (Powers) Measure 1956. The value of the property in 1967 was £3,500 and the unrealised gain amounts to £186,500.

Curate’s House Income

The restricted Curate’s House Income Fund is held on the same restrictions that apply to the house above. The PCC’s policy is to hold a balance in this fund of approximately £5,000 for the upkeep of the house with any excess of income being expended on any ecclesiastical purpose affecting the parish or any part of the parish.

R&R Fund

The restricted R&R (Repair and Regeneration) Fund is for the maintenance and development of the church. Within this Fund there is £3,000 being a donation received in 2021 with the particular restriction “to be used for the architect’s fees and/or building contractor’s work for the proposed work for the up grading of the church centre toilets and/or the reordering of the main worship space, as the PCC may decide.”

Organ Fund

The restricted organ fund is for the restoration and maintenance of the church organ.

Youth Worker Fund

The restricted Youth Worker Fund is towards funding of the Youth Worker post and income was fully expensed in the year.

Youth Fund

The restricted Youth Fund is for funding of children’s and youth projects / equipment and received grants during 2020 of £500 from the Cole Charitable trust and £900 from Baron Davenport’s Charity. Nearly all of these grants were expended in 2021 when the relaxation of COVID-19 restrictions allowed the children’s and youth work to restart. £600 was also received in 2020 from the Abberton Spire Fund but was unspent in 2021 with amended purposes agreed in February 2022 for this grant to be used for a football club for boys and girls.

Foodbank Fund

The restricted Foodbank Fund was established in 2020 to help fund the PCC’s costs in running a foodbank. It received a grant from the Government’s Coronavirus Community Support Fund of which £2,844.50 remained at 1 January 2021 and has been fully expended. The Fund holds the balance of other monetary donations for the purpose of purchasing provisions for the foodbank and its running expenses.

Money & Debt Advice Centre Fund

The restricted Money & Debt Advice Centre Fund was established in 2020 to fund the PCC’s costs of establishing a debt advice centre, for which it received a grant payment of £13,000 from SCVO / Esmée Fairbairn Foundation for expenditure to be incurred in 2021 and 2022.

18

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements for the Year Ended 31 December 2021

FUND DETAILS (continued….)

Mental Health Fund

The restricted Mental Health Fund is for aspects of improving mental health in our local community by reducing loneliness and social isolation as we continue to adapt to the effects of COVID 19. It comprises the balance of an SCVO Vision 2030 Community Grant of £3,520 (received in September 2021) for most of the cost of the soup and bread lunch at “Soup and Soul”, new play mats / toys etc. for “Trinity Treasures”, and Mental Health First Aid training for leaders to also include those volunteering in other activities e.g. foodbank. The Fund also includes donations at “Soup and Soul” towards the cost of refreshments.

Toilets Fund

The restricted Toilets Fund is for the renewal of the toilet facilities in the church centre. The October 2021 appeal for this Fund was on the basis that in the event that work does not proceed or more money is raised than is needed, that any such money so raised would then be used within the PCC’s restricted Repair and Regeneration Fund for the maintenance and development of the church or for donors (other than any that gave anonymously) to be able to receive their money back.

Other Funds

Other funds consist of smaller balances as follows:

“Love Offering” fund is to assist in the relief of financial hardship by making grants on a discretionary basis as delegated to the clergy and staff by the PCC.

Designated funds are held for the following purposes:

Building Maintenance Fund

The Designated Building Maintenance Fund was established in 2020 to enable maintenance work that would have been carried out in 2020 and 2021 had it not been for the COVID-19 pandemic to be funded in 2021 and 2022.

  1. MAIN TRANSFERS BETWEEN FUNDS

Transfers between funds in the year are occasionally made to cover funds which would otherwise be in deficit. The following transfers have been made during 2021:

Restricted Curate’s House Income Fund – A sum of £5,313 has been transferred into the General Fund to keep this restricted fund balance at £5,000 in line with the policy as described in note 15.

Restricted Youth Worker Fund – the expenditure on this fund exceeded the restricted income so the balance of £6,053 has been transferred from General Fund to cover the deficit.

Designated Building Maintenance Fund – a sum of £6,144 has been transferred from the General Fund to the Designated Building Maintenance Fund representing the following:

19

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

17. ANALYSIS OF NET ASSETS BY FUND

Fixed Assets Investments Current Assets Creditors Net Assets
£ £ £ £ £
Unrestricted Funds - 18,582 16,955 1,439 34,098
Designated Funds - - 13,868 2,660 11,208
Restricted Fund 190,000 4,145 27,643 - 221,788
----------- ----------- ----------- ----------- -----------
190,000 22,727 58,466 4,099 267,094
======= ======= ======= ======= =======

18. RELATED PARTY TRANSACTIONS

During the year £1,915 was paid to Hightreck Technical Services (“HTS”) (2020: £527) for the supply of IT & AV equipment and consumables. This business is controlled by Andrew Bessant, a member of the PCC. All equipment and services have been supplied at the same commercial rates as purchased by HTS. No charges are made for time involved including for IT support and management of email services. Andrew Bessant is married to Helen Bessant who is also a PCC member.

£2,073 was gifted to Operation Mobilisation (2020: £1,620), a charity which supports the mission of Kenny Frost, a PCC member.

£834 was gifted to Birmingham City Mission (2020: £800) a charity which employs Kathryn Hindley, the wife of Charles Hindley, a PCC member.

Donations from PCC members amounted to £25,062 during 2021. (2020: £32,445)

19. GOING CONCERN

The PCC members consider the PCC to be a going concern for the next 12 months from the date of this report on the basis that the projected voluntary giving and reserves will be able to sustain the running costs. The PCC also has the option to dispose of the investment property to raise further funds if required in the future.

Given the continuing global COVID-19 pandemic, the PCC will continue to assess and adapt to the budgetary consequences of the pandemic, including those related to building closure and grant availability, to seek to ensure its ongoing financial viability.

20

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

Income and endowments from:
Voluntary giving
Tax efficient planned giving
Other planned giving
Collections at services
Other
Gift Aid recovered
Grants
Activities for generating funds
Fundraising
Income from investments
Dividends, interest, rent etc..
Church Activities
Fees retained by the PCC
Trading activities
Total income
Expenditure on:
Costs of generating funds
Fundraising
Curate’s House maintenance
Church activities
Mission giving & donations
Parish Share
Salaries, Pensions & NI
Community Workers
Children’s & Youth Workers
Foodbank
Money & Debt Advice Centre
Administration
Clergy and staff expenses
Church Expenses
Mission and evangelism costs
Children’s & Youth Work
Corporate Worship
Money & Debt Advice Centre
Foodbank
Other		 Unrestricted
funds
Designated
funds
Restricted
funds
2021
Total
£
£
£
£
97,985
-
9,910
107,895
7,023
-
-
7,023
5,592
-
251
5,843
21,428
-
5,624
27,052
22,524
-
1,530
24,054
-
-
3,520
3,520
154,552
-
20,835
175,387
363
-
-
363
363
-
-
363
591
-
6,262
6,853
591
-
6,262
6,853
237
-
-
237
2,860
-
-
2,860
3,097
-
-
3,097
158,603
-
27,097
185,700
-
-
-
-
-
-
949
949
-
-
949
949
14,414
-
-
14,414
74,341
-
-
74,341
13,608
-
-
13,608
-
-
14,433
14,433
-
-
1,956
1,956
-
-
4,765
4,765
13,667
-
-
13,667
549
-
-
549
116,579
-
21,154
137,733
2,543
-
1,646
4,189
1,014
-
-
1,014
-
-
3,995
3,995
-
-
1,168
1,168
2,357
-
147
2,504		 2020
Total
£
109,438
7,487
4,735
20,424
24,138
20,689
186,911
389
389
7,079
7,079
3,081
2,634
5,715
200,094
-
1,134
1,134
14,751
74,341
21,517
19,543
1,544
-
13,274
1,411
146,381
972
1,271
-
596
1,928

21

The Parochial Church Council of The Ecclesiastical Parish of Holy Trinity, Old Hill

Notes to the Financial Statements

for the Year Ended 31 December 2021

Church running costs
Organ
Building Maintenance
Building maintenance re prior years
Telephone, printing, stationary, IT
Training
Accounts and Examiner fees
Accounts & Examiner fees re prior years
Other
Church cleaning
Church utility bills
Capital expenditure
Preparatory design work:
New building work (toilets)
New building work (reordering)
Total expenditure
Net realised loss on investments
Net unrealised gain on investments
Net income / (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Designated
funds
Restricted
funds
2021
Total
£
£
£
£
-
-
360
360
7,772
2,660
-
10,432
-
-
-
-
2,017
-
-
2,017
50
-
-
50
1,200
-
-
1,200
-
-
-
-
1,143
-
-
1,143
3,985
-
-
3,985
10,236
-
-
10,236
32,317
2,660
7,316
42,293
-
-
157
157
-
-
1,433
1,433
-
-
1,590
1,590
148,896
2,660
31,009
182,565
(1,032)
-
-
(1,032)
631
-
20,000
20,631
9,306
(2,660)
16,088
22,734
(6,882)
6,144
738
-
2,424
3,484
16,826
22,734
31,674
7,724 204,962
244,360
34,098
11,208
221,788
267,094		 2020
Total
£
-
2,178
(170)
3,303
160
1,200
72
1,876
3,231
10,654
27,271
-
2,490
2,490
177,276
-
10,982
33,800
-
33,800
210,560
244,360

Pages 21 and 22 do not form part of the statutory financial statements

22