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2023-12-31-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 2023

v2.2.1

TEMPORARY NOTE TO PCC OF AMENDMENTS TO v2.1

page 2: “reorganized” amended to “reorganised”

page 21 Note17: figures added for donations to Operation Mobilisation and Birmingham City Mission. 10 March 2024

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

Contents of the Financial Statements for the Year Ended 31 December 2023

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 11-23

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

Report of the Trustees for the Year Ended 31 December 2023

The PCC members (the trustees) present their annual report and the independently examined financial statements for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” and the Church Accounting Regulations 2006, in preparing the annual report and financial statements of the charity.

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 mission statement is

Finding hope and love together in 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 2023 until the date this report was approved were:

Incumbent The Reverend Nick Gowers (Chair)
Curate The Reverend Ben Somervell (from 1 July 2023)
Churchwardens Helen Bessant
Terry Graham (to 5 July 2023)
Narinder Chander (Churchwarden from 5 July 2023
and PCC member from 26 April 2023)
Deanery Synod Representatives Philip Adams (and Electoral Roll Officer)
Alan Sanders
Charles Hindley (Representative from 26 April 2023
and PCC member throughout 2023)
Diocesan Synod Member Alan Sanders
Elected members Pat Baker (from 26 April 2023)
Stephen Baker
Andrew Bessant
Yvonne Binder
Joseph Frost (from 26 April 2023)
Kenny Frost
Anita Mansell (and Vice Chair from 26 April 2023)
Tim Pennifold
Annie Stanford
Dan Willetts (from 26 April 2023)
PCC Secretary Anita Mansell (to 20 March 2023)
Sue Priest (from 26 June 2023) (not a PCC member)

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

Report of the Trustees for the Year Ended 31 December 2023

REFERENCE AND ADMINISTRATIVE DETAILS (continued..)

Treasurer Safeguarding Officer

Annie Stanford

Rachel Ford

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 26 April 2023.

All Church attendees are encouraged to register on the Electoral Roll. The number on the electoral roll on the date of the APCM in 2023 was 156 compared to 159 in the previous year 2 new names had been added and 5 were removed.

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 (in 2023 Anita Mansell 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 PCC.

The PCC has also appointed four other committees:

This year, following work with our Mission Accompanier, the PCC reorganised our church life under the following ministry areas:

The PCC met on 9 occasions during 2023 and also took a decision by the Rule M29 Notice procedure. The committees and support teams also met regularly and reported to the PCC.

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

Report of the Trustees for the Year Ended 31 December 2023

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 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 in 2022 we attained and maintained the dashboard at “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 2023 we continued with our priorities identified in 2022 of working towards a position where no one has a DBS check more than three years old, further reviewing volunteer role descriptions (including the level of DBS and training required), along with our record keeping, tracking and reminders. Our priorities for 2024 are to support the upcoming diocesan safeguarding audit and to continue to improve the efficiency of our safeguarding processes to ensure there is due process and the appropriate rigour as we seek to ensure that volunteer vacancies are filled in a timely manner. In the light of the COVID-19 pandemic, practices initially 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 12 October 2023.

REVIEW OF THE YEAR

The PCC has a “2026 Vision & Direction Group” (as in 2026, Holy Trinity, Old Hill will turn 150 years old) to discern the course for that next season of our church life so that, God willing, there will be a vibrant multiplying church in Old Hill in 2026 and serving the needs of our parish for the next 150 years. The group, formed of the Vicar, some PCC members and other members of the church family, with a diocesan appointed “Mission Accompanier” continued to develop proposals throughout 2023.

This group’s initial work in 2022 was to develop our new mission statement, “finding hope and love together in Jesus” , by looking at the overlap of Jesus’ Great Commission, our identity as a church, and our mission to our particular parish. The group has borne in mind how we communicate with those inside and outside our church membership, including those probably hardest to reach.

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

Report of the Trustees for the Year Ended 31 December 2023

REVIEW OF THE YEAR (continued..)

The group identified the core values of our church, and worked hard to express them in five memorable mottos. These have been enthusiastically adopted by the PCC, and preached through in our morning and evening services. Our desire is that these mottos run through all that we do as a church.

Three main challenges facing the future of Holy Trinity Church have been identified as:

In February 2023 it was confirmed that we would, in partnership with the adjacent churches of Dudley Wood, Darby End and Netherton (also known as the Forge Group), be receiving a total of £800,000 national CofE funding, from its Strategic Mission and Ministry Investment Fund, over 2024 to 2028. This has the objective of enabling our church life to grow including a doubling in size of our membership over that period as well as resourcing the adjacent churches in the Forge Group. In 2023 planning involved identifying the scope of three new posts to serve all four churches and the “reordering” of the interior of Holy Trinity Church, Old Hill. In the latter half of the year, with the help of Damian Herbert (Diocesan Transformation Project Director) significant work was done towards the project document that will release the funds.

In November our architects presented and discussed options with the church membership for the reordering of the church building’s main worship space in the context of possible future developments of the church centre. This led into consultation (physical and on-line) resulting in 71 submissions. The clear outcome was for plans to be prepared to create a flexible use level worship space along with the development of “pods” in the transepts, a more welcoming and draught proofed entrance, improved heating and redecoration.

These plans for the building will also seek to further the PCC’s commitment in 2022 to develop an action plan, subject to practicability and financial viability, to achieve year-on-year reductions in carbon emissions to seek to reach net zero emissions by the Church of England’s target of 2030.

On an average Sunday our public worship involved:

100 adults (93 in 2022) plus views on YouTube

28 children and young people (24 in 2022)

This compares to the “pre-COVID” figures in 2019 of 122 adults and 23 children and young people.

Throughout 2023 our Sunday morning services continued to be livestreamed and made available for later “catch up” on our YouTube channel at http://holytrinity.tv. This continued to help maintain the worshipping life of those who were unable to get to the church building. During 2023 we lost 23 subscribers but gained 49 new subscribers to our YouTube channel, bringing our total at the end of 2023 to 350 (322 in 2022). A total of 1,360 hours were watched, of which 41.2% was from our subscribers. 48.6% from viewers outside the UK. 76.3% watched on a mobile device and 23.7% via a Smart TV.

Children’s and youth work activities included (with reference to school year groups):

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

Report of the Trustees for the Year Ended 31 December 2023

REVIEW OF THE YEAR (continued..)

Our parent and toddler group, “Trinity Treasures” met on Tuesdays typically involving 10 mums and 11 children each week (9 and 11 in 2022).

Also midweek, our Wednesdays “Soup & Soul” transitioned into “Food for the Soul” as a time of worship and word with food and fellowship bringing together an average of 17 people (22 in 2022) per week from several local churches .

Our carol, nativity and Christmas services across two weeks had a total attendance of 636 adults and 149 children / young people (with many of these attending more than one service).

Consistent with our holistic approach to meet spiritual as well as physical and social needs as part of the Old Hill community, our church life in 2023 also included:

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

Report of the Trustees for the Year Ended 31 December 2023

REVIEW OF THE YEAR (continued..)

Our church centre is used by other community organisations. During 2023 there were three groups with weekly activities.

FINANCIAL REVIEW

Total incoming resources for the year were £243,002 (2022 - £214,276) of which £168,846 (2022 - £173,220) was from voluntary giving. Total expenditure increased by £36,714 from £202,270 to £238,984. This has resulted in an unrestricted deficit, after transfers, of £5,413 for the year (2022: unrestricted surplus, after transfers, £1,041).

The PCC is hugely appreciative of the level of giving of its church members, which, with Gift Aid, was £168,846 for the year (£173,220 in 2022). This reflected continued support in prayer and sacrificial giving through very challenging times for some with pressures on personal finances in a period of high price inflation for significant periods of the year. We continued to encourage cashless ways of giving and, for example, there were 33 donors (34 in 2022) using the Parish Giving Scheme by the end of the year.

While we were able to meet some extra maintenance costs from our designated reserves, those are now exhausted.

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.

The Curate’s House is not currently required to house a curate it has been held as an investment asset generating rental income and also for capital growth. In May 2022 the PCC reviewed this position and decided to sell the property, appointed a chartered surveyor and at the time of approval of this report the property is sold subject to contract.

RESERVES POLICY

The PCC’s policy is to hold reserves of three months running costs consisting of salaries (including employers’ NI and pensions), Ministry Share, clergy expenses, cleaning, insurance and utilities, in its unrestricted or relevant restricted funds (and excluding designated funds). The position at 31 December 2023 was that £34,722 was held in this way as cash or readily realisable investments (£40,139 at 31 December 2022) which represents 3 months of such running costs (2022: 3.5

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

Report of the Trustees for the Year Ended 31 December 2023

RESERVES POLICY (continued..)

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. In calculating reserves the PCC ignores the cost of salaries of temporary posts 100% funded through the Strategic Mission & Ministry Investment Fund.

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.

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

and signed on its behalf by:

The Revd. Nick Gowers - Chair

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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 2023

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 2023

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 2023.

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

Date :

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The Parochial Church Council of

The Ecclesiastical Parish of Holy Trinity, Old Hill

Statement of Financial Activities

for the Year Ended 31 December 2023

All income and expenditure derive from continuing activities.

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The Parochial Church Council of

The Ecclesiastical Parish of Holy Trinity, Old Hill

Balance Sheet

for the Year Ended 31 December 2023

The financial statements were approved by the PCC on

and were signed on its behalf by:

The Revd Nick Gowers – Chair

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

Notes to the Financial Statements

for the Year Ended 31 December 2023

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 Ministry 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.

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

Notes to the Financial Statements

for the Year Ended 31 December 2023

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.

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The Par(xhial Church Council of The Ecclesi35tical Parish of HolyTrinrty, Old Hill Notes to the Financial Statements for the Year Ended 31 December 2023 GRAPItS. DONATIONS AND LEGACIES Total Total Funds Funds 2023 2022 Donation5 128.233 23,537 14.705 2A71 51J155 142.938 25,908 150,562 22,658 22￿￿5 Gift Aid Grants 5L055 151.770 68.131 219.901 195.285 INCOME FROM CHARITABLE ACTNMES unreStr￿ted Desenated ReStr￿ted Furmts FurK15 FurKIs Totsl Total 2023 2022 Letting Inco W￿l￿83Thd FunÈr3lf￿s. thar8*s anadothatiofts 5.655 4,074 2.119 5fi55 4P74 L119 3A98 3512 4,056 764 Clubs. weekend events3r￿￿r￿rll5in1 Insurance clairn5 3.654 li 3,498 15,346 11,986 INCOME FROM INVESTMEPIts Total Total Funds Fund5 Funds 2023 2022 Dividends 109 231 272 Bank IntsTe5t 828 426 L253 6271 Curate'5 House rentsl income 71 6273 949 7,755 7,IX15 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 2023

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 2023: Charles Hindley £13,728 (PCC member and employee throughout 2023).

7. TRUSTEES’ EXPENSES

7 trustees were reimbursed expenses amounting to £5,710 (2022: £2.695) for the year ended 31 December 2023. 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.

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The Par(xhial Church Council of The Ecclesi35tical Parish of HolyTrinrty, Old Hill Notes to the Financial Statements for the Year Ended 31 December 2023 STAFF COSTS Total Tot Fund5 Funds Funds 2023 2022 Wages and Salaries 32,IZI 23J50 55N71 52,447 32,121 23.350 55,471 52A47 The average number of staff durinE the year was 412022- 51 TAf4616LE FIXED AS5Ef5 Comwter Equipme As at Istjanuary 2023 dditions 839 Disposals As at 31st December 2023 839 Depreciotion As at Istjanuary 2023 Charge On disposals As at 31st December 2023 839 839 Net Book Value As at 31st December 2022 As at 31st i)etember 2023 15

The Par(xhial Church Council of The Ecclesi35tical Parish of HolyTrinrty, Old Hill Notes to the Financial Statements for the Year Ended 31 December 2023 io. INVESTMEPIts General Restricted Total Market V￿e A5 at 1st January 2023 Unrealised Gains1llossesl Asat 31st De<ember 2023 16.382 1.555 17.937 3.654 347 20.037 1.902 21.938 4.0)1 Current assest 1nvesby￿rt consist of the following shares". 177 CCLA CBF'S, Investment Fund Incorne ShaTes held in the Curate's House Income Fund valued at 2261 penie each at 31 December 2023. 793.49 CCLA CBF'S, Investment Fund Income Shares held in the Curate'5 House Income Fund valued at 2261 pEnce each at 31 December 2023. ii. INVESTMENT PROPERTY ftestrKted Market Value A5 at 1st January 2023 Unreal ised Gain511105sesl As at 31si December 2028 215.LD) 215.[ 16

The Par(xhial Church Council of The Ecclesi35tical Parish of HolyTrinrty, Old Hill Notes to the Financial Statements for the Year Ended 31 December 2023 12_ DEbTOR5 Totsl Totsl 2023 2022 Prepayments Other Debtors 6.262 125 5.975 105 6387 Unrestricted 6,122 4.749 De5iEnated Restricted 265 1.331 6B87 13_ CREDI￿￿5. ANWJUPIt5 FAiUNfj DUE WITHIN ONE YEAR Totsl Totsl 2023 2022 Mission Giving Social Security and Other Taxe5 17?38 564 1.081 434 2(X) Accruals 4,689 16.507 23J08 17,605 Unrestricted 20￿58 3.405 13.097 1.103 Designated Restricted 2.450 23808 17,605 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 2023

15. FUND DETAILS

Restricted funds are held for the following purposes:

Curate’s House Fund

The Curate’s House (15 Highland Road) represents a restricted fund of £215,000 (2022: £215,000) 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. In 2022 the PCC decided to sell the property.

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

Notes to the Financial Statements for the Year Ended 31 December 2023

FUND DETAILS (continued..)

Curate’s House Income Fund

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 was £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.” During 2023 the PCC expended £3,979 on architect’s and engineer’s fees involved in preparing the detailed designs for the toilets.

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 Projects Fund

The restricted Youth Fund is for funding of children’s and youth projects / equipment. £600 had been received in 2020 from the Abberton Spire Fund but was unspent in 2021 with amended purposes agreed in February 2022. This was further unspent in 2022 with new amended purposes agreed in October 2022. This was then fully expended in early 2023. During 2022 £1,000 was received from Tesco which was fully expended on equipment in 2023.

Foodbank Fund

The restricted Foodbank Fund was established in 2020 to help fund the PCC’s costs in running a foodbank. The Fund holds the balance of 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. In 2022 it received a further grant payment of £13,000 from SCVO / Esmée Fairbairn Foundation for expenditure to be incurred through to mid- 2023.The twelve-month period from 21 August 2023 will be met from National Lottery Community Fund grant support of £8,095.

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 adapted to the effects of COVID 19. It comprises the balance of an SCVO Vision 2030 Community Mental Health 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 including those volunteering in other activities e.g. foodbank. The remaining balance is to be spent in 2024 on further equipment and toys for “Trinity Treasures”.

Toilets Fund

The restricted Toilets Fund is for the renewal of the toilet facilities in the church centre. The October 2022 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

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

Notes to the Financial Statements for the Year Ended 31 December 2023

FUND DETAILS (continued..)

the maintenance and development of the church or for donors (other than any that gave anonymously) to be able to receive their money back.

Climate Change Fund

The restricted Climate Change Fund comprises the balance of an SCVO Vision 2030 Climate Change Grant of £1,500 (received in mid-September 2022) for LED lighting and energy saving measures in church, distribution of LED bulbs through the foodbank, and distribution of reusable environmentally friendly fabric carrier bags to food bank clients and church members. In 2023 the fund included donations from church members towards the cost of their bags.

Warm Space Fund

The restricted Warm Space Fund comprises the balance of an SCVO Vision 2030 Warm Space Grant of £2,548 (received in early November 2022) for refreshments, suitable seating, staffing and publicity. A small balance was transferred with SCVO approval into the subsequent Welcome Space Fund.

Welcome Space Fund

The restricted Welcome Space Fund comprises the balance of an SCVO Vision 2030 Community Grant of £ 4,960 (received in May 2023) for staffing, refreshments, and publicity involved in running a Welcome Space for two sessions per week. The fund is expected to be fully spent during 2024.

Church Heating Fund

The restricted Church Heating Fund is for paying gas/electricity bills for heating. It comprises the balance of a grant from Worcester Diocesan Board of Finance of £4,017 received at the beginning of December 2023) It was fully expended in the early months of 2023.

SMMIF Loan Fund

The restricted Strategic Mission & Ministry Investment Fund Loan Fund comprises the balance of a loan of £37,500 from the Worcester Diocesan Sites and Buildings Fund to cash flow the costs of professional fees, surveys, and other fees needed to develop proposals for the internal reordering of Holy Trinity Church the costs of which will in due course be met by a grant from the Strategic Mission & Ministry Investment Fund. The loan is at 0% rate of interest and is due to be repaid in four equal six-monthly installments which will begin on 1 May 2024.

“Love Offering” Fund

The restricted “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.

Other Funds

Other restricted funds consist of smaller balances as follows:

“King’s Coronation Event Fund” comprised a SCVO Vision 2030 Community Grant of £500 for a Celebration Picnic event held on 7 May 2023 in honour of the King’s Coronation. The grant was fully expended.

The “Week-end Away Fund” is for financial assistance for participation in a church week-end away with such help given on a discretionary basis as delegated to the clergy and staff by the PCC. At 31 December 2023 the fund was £28.

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

Notes to the Financial Statements for the Year Ended 31 December 2023

FUND DETAILS (continued..)

Designated funds are held for the following purposes:

Building Maintenance & Equipment Fund

The Designated Building Maintenance & Equipment Fund was established in 2020. It enabled the funding of maintenance work that would have been carried out over 2020 to 2022, had it not been for the COVID-19 pandemic, to be carried forward. For 2023 its designated purposes were extended to include AV equipment. It was fully expended in 2023 to meet the higher than anticipated costs of the very much needed major repair of the West Window.

16. 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 2023:

Restricted Curate’s House Income Fund – A sum of £6,046 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 £7,177 has been transferred from General Fund to cover the deficit.

Designated Building Maintenance & Equipment Fund – a sum of £6,425 has been transferred from the Designated Building Maintenance & Equipment Fund to the General Fund.

17. RELATED PARTY TRANSACTIONS

During the year £156 was paid to Hightreck Technical Services (“HTS”) (2022: £1,797) for the supply of IT & AV equipment and consumables in the year. 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.

£2,304 is due to be gifted to Operation Mobilisation (2022: £2,130), a charity which supports the mission of Kenny Frost, a PCC member.

£1,358 was gifted to Birmingham City Mission (2022: £858) a charity which employs Kathryn Hindley, the wife of Charles Hindley, a PCC member.

During the year, £102 was spent at Electric Center (2022: £531) where Stephen Baker, a PCC member, is an employee.

Donations from PCC members amounted to £15,709 during 2023. (2022: £26,355)

18. 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.

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The Par(xhial Church Council of The Ecclesi35tical Parish of HolyTrinrty, Old Hill Notes to the Financial Statements for the Year Ended 31 December 2023 Vnrestrkted DeslEnated Ilestrkted Funds Fum& Tot Total 2023 2022 Volunta Tax efficient planned EivinE other plènned giVinE Collections at services 9.581 108.989 111.169 4.855 130 4.985 5.663 7.876 7.876 other 18.213 23.207 25. 51.055 222.020 25.585 Gift Aid rec(Nered 23.537 2.371 5L.055 68.131 22.658 22.065 196.049 GTants 153.889 In mln¥ Dividends, interest. rent etc_ 949 7.755 7.CQ5 949 7,755 7,fy)5 Churih ktivities Wedding and Funeral fee5. charges and donations Insurance clairn5 4.074 4.074 4.056 3.498 3.498 3.654 TradinE actlvities Ihall lettinEI 5.655 5.655 3.512 9.729 3.498 13.227 11.222 Total I￿￿￿e 164.567 3.498 74,937 243￿2 214,276 Expendituie on.. Curate's House maintenance 1.207 1,207 1.207 1,207 1.253 1,253 Church activitie5 Mission RivinR and donations Ministry share Salaries. Pensions & Nl Community Workers Children's & Youth Workers 17,816 69.570 17,816 69.570 15,588 69.755 15.667 16.767 214 Warm Space Money & Debt￿l[e Centre Admini5tTation 32.121 23.350 55.471 5.411 14.023 Clefgy and staff expEn5e5 436 436 830 119,943 23,350 143.293 138,255 Church Ex nse5 Mi55ion and evanEelisrn 105t5 Children's & Ytyjth Work 2.7CQ s.￿1 2.567 5.267 5,238 3.259 Corporate Worship Money & DebtAAfvice Centre Foodbank 1.121 1.121 4.277 2.686 2.686 1.317 Warm Space other 537 4.472 4.970 22

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

Notes to the Financial Statements

for the Year Ended 31 December 2023

Pages 22 and 23 do not form part of the statutory financial statements

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