• & St Peter’s Codsall Wood # **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST NICHOLAS, CODSALL, STAFFORDSHIRE IN THE DIOCESE OF LICHFIELD** ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2021** ## **CHARITY NUMBER 1130892** ## **The Parochial Church Council of The Parish of Codsall Trustees’ Annual Report for the year ended 31[st] December 2021** ## **Charity registration number: 1130892** ## **Objectives and Activities** The Parochial Church Council of the Parish of Codsall (the PCC) has the responsibility of co-operating with the incumbent, the Reverend Marg Mattocks in promoting in the ecclesiastical parish, the whole mission of the church, pastoral, evangelistic, social and ecumenical The PCC is also spiritually responsible for the maintenance of the Churches, the Parish Rooms, Church Road, Codsall and St Peters’ Hall, Whitehouse Lane, Codsall Wood. The PCC is committed to enabling as many people as possible to worship at our Church and to become part of our parish community at St. Nicholas, Codsall and St Peters, Codsall Wood. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament. ## **Statement of Public Benefit** The trustees of the Charity are aware of the Charity Commission’s guidance on public benefit in _The Advancement of Religion for the Public Benefit_ and have had regard to it in their administration of the Charity. The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of St Nicholas, Codsall, Staffordshire in the Diocese of Lichfield it helps to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by: - - Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers: and - Promoting Christian values, and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole. ## **Achievements and Performance** The full PCC met in February, March, May (APCM), June, (via Go To or Zoom) September, November. Codsall PCC is made up of a Vicar, 3 Lay Readers, 2 Churchwardens elected annually (serving a maximum 3 year term), 12 elected members who are elected for a 3 year term, 2 Diocesan Synod member, 3 Deanery Synod members and the Treasurer, elected annually by the PCC. In addition, there is currently 1 co-opted member with non-voting rights. Elections take place annually at the Annual Parochial Church Meeting (APCM) for a minimum of 4 members plus 2 Churchwardens elected in accordance with the Church Representation Rules. By the end of 2021 the ministers in the Parish were made up of the Vicar, 1 Associate Minister on placement, 2 Lay Readers and 1 PTO (Permission To Officiate) Lay Reader. Spiritual matters are overseen by the Ministry Team which includes the Churchwardens plus other lay representatives. Day to day administration and financial matters are overseen by the Standing Committee which includes the Vicar, Churchwardens, treasurer and up to 2 lay representatives. They are authorised to accept expenditure of a maximum £500. Higher expenditure must be authorised by the PCC. The churchyard, two church halls, magazine and finance along with other groups set up by the PCC each have their own committees who oversee their day to day activities- all of these groups report regularly to the PCC. Our Mission Action Plan (MAP) is in development, this has been delayed due to the ongoing disruption caused by Covid. 1. Building development – the audio visual is awaiting final approval from the DAC, again a victim of Covid. 2 2. Helping people connect- A You Tube feed was established to stream services live. 3. Sharing leadership – We have 2 members of our congregation on the Pathway to Ministry route one is considering Lay Reader Ministry and the other ordained ministry ## **Focus areas identified for 2022** 1. To continue to stream our services enabling the vulnerable to participate in weekly worship 2. To follow through on our MAP 3. To support our local Foodbank 4. To establish further ways for people to meet to consider God’s teaching via home groups. 5. To provide training for those who share leadership of our groups and activities, further developing their gifts. To encourage others to take up the leadership baton. ## **Highlights of 2021** **February** – Newsletters sent out containing handmade palm crosses and a salt dough flower for Mothering Sunday **March** – Food collection for The Well -3/4 tonne of food collected - Archway erected as a Remembrance focus at Easter. **June** – Restarted Coffee, Cake & Chat - Archdeacons Visitation @ St Michael’s Penkridge Buttonholes for Fathers’ Day **August** – Growing of our Audio Visual Tech Team **September** – Cream Tea Social Meals on Wheels Harvest Collection for The Well **October** – Civic Service **November** – Remembrance Service **December** – Carol Service Reverse advent Calendar collection for The Well Journey to the Crib Film nights at regular interval throughout the year. Services at Sheep Barn Farm, Codsall Wood to celebrate Easter, Harvest and Christmas. ## **Financial Review 2021** There has been a change in the way the accounts have been prepared this year. It has been decided to move Accrual to Receipts and Payments. This will have some effect on the figures presented but the overall state of the accounts will not be significantly altered. Our regular donations have experienced a steep drop in 2021 from around £66,000 to £40,000. A portion of this can be explained by our change in accounting procedures but this 40% reduction is significant. This has vindicated the actions taken in 2020 by the PCC in making the regrettable redundancies. This has meant that this reduction of income has not had the catastrophic effect on our finances that might otherwise have occurred. The Parish Share was paid in full but was subsidised by a substantial gift from the diocese of £19,558. The internal decoration of St Nicholas has been completed using restricted funds in 2021 and is greatly appreciated by all who attend the church. The proposed AV system upgrade is still awaiting faculty approval. The application is under review but is hoped to be concluded next year and the finance is largely in place. The work on the extension to the churchyard has been completed although it has yet to be consecrated so cannot yet be used for burials. The restricted Set Aside Fund was used for this. 3 There has been a steady increase in our occasional offices of funerals, burials etc. which represents a significant portion of our income. We have however only conducted 8 weddings, which is a significant reduction on pre Covid levels but a marginal increase on the 5 conducted in 2019 when many were deferred or cancelled. The income from our halls and magazine have recovered somewhat and there are signs that this will continue. Fund raising remains low due to the current restrictions imposed. |Magazine
Income
Costs
Profit/Loss
Parish Rooms
Income
Costs
Profit/Loss
St Peter's Hall
Income
Costs
Profit/Loss
Fund Raising
Income
Costs
Profit/Loss||Unrestricted
Funds
12,419
-9,223
3,196
3,999
-4,641
-642
3,917
-3,544
373
1,226
-881
345||Restricted
Funds
0
0
0
0
0
0
0
0
0
0
0
0||2021|Total Funds|Total Funds|2020
8,950
-6,867| |---|---|---|---|---|---|---|---|---|---| ||||||||||| ||||||||||2,083| ||||||||||3,992
-4,923| ||||||||||-932| ||||||||||3,028
-5,262| ||||||||||-2,234| ||||||||||1,341
-956| ||||||||||385| The loan taken out to build the disabled toilet and tea bar has started to be called in again by the diocese after an extended “holiday”. It is being fully funded through the Warner Bequest which has largely been invested. The growth in this investment is reassuring although some will need to be expended in the future to help pay off the loan. Our property valuations show a loss. This is largely as a result of a £35,000 reduction in the valuation of St Peter’s Hall. The value is calculated according to the income received. In 2020 it had been decided not to alter it due to the reduction in income being caused by the Covid pandemic, which was more of an unknown factor at the time. Other properties are revalued according to the appropriate annual inflation indices. The day-to-day financial position of the church remains in a precarious position; however, the investments and cash reserves are ensuring we have time to rebuild and recover. That process is well in hand. The Covid pandemic has changed a lot of things over the last 2 years and will continues to affect our finances for some time to come. ## **Reserves Policy** It is PCC policy to try to maintain a balance on free reserves (net current assets) which equates to at least three months unrestricted payments. This is equivalent to £37,340. It is held to smooth out fluctuations in cash flow and to meet emergencies. The balance of the free reserves at the year end was £145,957 which is considerably higher than this target. 4 ## **Investment Policy** The charity is granted power to invest in suitable investments under the PCC Powers Measure 1956 and the Trustees Act 2000. As a charity, the Trustees have a duty of care to take such advice as is appropriate before investments are undertaken. This advice is sought from the Central Board of Finance (CCLA) in London. AFH Wealth Management and EFG Harris Allday The charity’s investment policies are based on two key principles: - - Ethical Investment – this includes ensuring that investments are held in companies which have high standards of corporate governance and act in a responsible way towards stakeholders. - Long-term responsibilities – the trustees are aware of their long-term responsibilities in respect of the Restricted and Unrestricted reserves and as a result follow a prudent approach to investment decisions. Investment policy for long-term funds is aimed primarily at generating a sustainable income, with due regard to the need for the preservation of capital value, and the possible need to realise investments to meet operational needs. The charity does not have a policy of generating income at excessive or high risk – known as “purchasing income”, where high returns are guaranteed at the expense of capital. In summary, the charity has an overall policy to maximise income while preserving the real value of its funds. Due to the nature of the charity, an ethical investment policy is taken into consideration when investments are made: The charity follows the Ethical Investment Advisory policy as recommended by the Lichfield Diocese which includes the following: - “We aim to invest in companies that: - will develop their business in the interests of shareholders; - demonstrate responsible employment practices; - are conscientious concerning issues of corporate governance, the environment and human rights; - are sensitive to the community in which they operate.” Planned giving, collections and donations are the main sources of fund raising along with tax recoverable. It is the policy of the PCC to invest funds to achieve a balance of income and growth using a spread of medium and low risk CBF Fund investments. ## **Safeguarding** The PCC believe they have fulfilled their duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). ## **Reporting Serious Incidents** A Serious Incident is an adverse event, whether actual or alleged, which results in or risks significant harm to the charity’s beneficiaries, employees, office holders, volunteers or to others who come into contact with the charity through its work, loss of the charity’s money or assets, damage to the charity’s property or harm to the charity’s work or reputation. The trustees are not aware of any Serious Incidents in the last year ## **Fundraising** The PCC takes it fundraising responsibilities seriously and is very grateful to all donors – whether regular or occasional – for their support of the church and church events. PCC supporters are never taken for granted. The PCC take full responsibility for fundraising and do not use commercial organisations or professional fundraisers. All money raised is either by donations, fundraising events, special appeals or legacies for which the PCC are most grateful. ## **Volunteers** The members of the PCC would like to thank all the volunteers who work so hard to make our Church a lively and vibrant community. 5 ## **Risk Management** The Church Wardens carry out regular Health and Safety Reviews and regularly inspect premises for potential hazards. We have safeguarding policies in place for child protection and for work with vulnerable adults, including rigorous DBS checking of staff and volunteers. Our insurances are reviewed annually to ensure adequate cover. An informal review of any new risks which may impact the work of the Church in the Parish is ongoing. ## **Structure, Governance and Management** The PCC is a Body Corporate established by the Church of England and is a Charity registered with the Charity Commission. The PCC is governed by the Parochial Church Council Powers Measure (1956) as amended that came into effect on 2[nd] January 1957, and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). The method of appointment of the PCC members is set out in the Church Representation Rules. The Council comprises the Incumbent, the Churchwardens, a representative of the Readers, those elected to the Deanery Synod, and other members who are elected at the Annual Parochial Church Meeting, by those on the Electoral Roll. The PCC members receive training from courses run by the Diocese. Members of the congregation are always urged to join the Electoral Roll, and to stand for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance in the parish, and for all financial matters. The PCC met 6 times in 2021. [Given its responsibilities, the PCC has a number of sub committees, each dealing with a particular aspect of parish life. These include Finance and Standing Committee. Each reports back to the PCC with the minutes of their meetings.] ## **Related Parties** No related parties have been had any dealings with the PCC during 2021 ## **Donations from Related Parties** Donations from related parties during the year totalled £6,875. All of these donations were received without conditions. ## **Remuneration paid to Trustees** One of the trustees has been paid £5,095.80 remuneration or for her duties as a Verger No other Trustee received remuneration or any other benefits from employment with the PCC ## **Expenses paid to Trustees** One trustee was reimbursed £346 for travel and subsistence during the year. ## **Future Plans** ## • see **Focus Area’s identified 2020** ## **Grant Making Policy** For 2021 it was reluctantly decided to suspend our policy of giving 3.5% of our General Fund income due to the significant reduction in our income. Some donations have been made but these have been limited. A new diocesan levy, called the Common Fund, is being introduced in 2022 to replace the Parish Share. This will request a significant £17,556 reduction, in what is now called the minimum request. The Common Fund is built around the Cost of Ministry and the Deprivation Index of parishes. It is not a surprise to learn that Codsall is one of the least deprived parishes in the diocese and the reduction is because we had been contributing around 30% over and above the theoretical Parish Share request. Our Grant Making Policy is to be reviewed in 2022 following all these changes 6 ## **Social Investments** - Sunday services are held weekly at St Nicholas’ and on the 2[nd] & 4[th] Sunday at St. Peter’s Codsall Wood - Thursday morning Services on 2[nd] & 4[th] @ St Nicholas’ 1[st] . 3[rd] & 5[th] @ St Peter’s - Monday Evening bible study group in church - Pastoral Care group – identifying those who would benefit from a telephone call. - Pastoral Service provided for Baptisms, Weddings, funerals and those exploring confirmation. - You tube taking Church into the Community - Private Prayer – Wednesday afternoons in church. - Midweek Compline via Zoom - Coffee, Cake & Chat – 1[st] & 3[rd] Mondays in the Parish Rooms - Craft group weekly in the Parish Rooms - Ladies Circle – monthly group open to all ladies with guest speakers in the Parish Rooms. - Railway Group – a monthly group for railway enthusiasts in the Parish Rooms. We have endeavoured to hold services and meetings as and when Covid restrictions allowed. We suspended home communions and care home services as a result of Covid. These will be resumed when circumstances allow. ## **Our prime concern during the past year has been to keep everyone visiting church safe. Social distancing, sanitisation and track & trace directives have been most diligently followed.** 7 **Reference and Administrative Details.** |**Churches:**|St Nicholas, Codsall|St Nicholas, Codsall| |---|---|---| ||St Peters, Codsall Wood|| |**Independent Examiner**:|Mr Jonathan Hill|| ||Chartered Certified Accountant|| ||Lichfield Diocesan Board of Finance|| ||St Mary’s House|| ||The Close|| ||Lichfield|| ||WS13 7LD|| |**Bankers:**|Barclays Bank plc|| ||Bilbrook Branch|| ||PO Box|5| ||Wolverhampton|| ||WV1 1DS|| |**Investment**|CCLA|| ||Senator House|| ||85 Queen Victoria Street|| ||London|| ||EC4V 4ET|| |**Address for Correspondence:**|Codsall|Vicarage| ||48 Church Road|| ||Codsall|| ||Staffordshire|| ||WV8 1EH|| |**Charity Name:**|The Parochial Church Council of the Ecclesiastical Parish of|| ||St Nicholas, Codsall, Staffordshire in the Diocese of Lichfield|| |**Registered Charity Number:**|1130892|| 8 **PCC Members: Who Served from 1 January 2021 to the date this report was approved** |**Trustee name**|**Office(if any)**|**Dates acted if not for wholeperiod**| |---|---|---| |**Ex-Officio**||| |The Revd M
Mattocks|Chairman|| |Mrs S Gilmour|Reader|| |Mrs J Gollins|Reader|| |Mrs J Morgans|Reader|| |Mrs A Fletcher|Church Warden|| |Mr C Pickering|Church Warden|| |Mrs E Wallin|Diocesan Synod Representative|| |Mr R Marsh|Deanery/Diocesan Synod Representative/Treasurer|Elected to Diocesan Synod August 2021| |Mrs S Cartwright|DeanerySynod Representative|| |Mr D Carver|DeanerySynod Representative/Vice Chairman|| |||| |**Elected Members**||| |Mrs H Bristow||Appointed May2021| |Mrs T Carver||| |Mr J Dodd||Resigned Mar 2021| |Mrs J Dodd||Co-opted/Resigned Mar 2021| |Mrs H Edwards||| |Mr J Marsh||| |Mr I Morris||| |Mrs D Morris||| |Miss B O'Connor||| |Mr R Palmer||| |Mrs S Richardson||Appointed May2021| |Mrs J Thompson||Term ended May2021| |Mrs H Walker||Appointed May2021| |Mrs J Walls||Term ended May2021| |Mr T West||Appointed May2021| |Mrs A Jevons|Co-opted/Secretary|| Approved by the PCC on 12 04 2022 and signed on its behalf by: _······_ ·········· _tlf/.4raff>_ Mrs A Jevons Revd M Mattocks 9 **Independent Examiner’s report to the trustees/members of The PCC of The Parish of Codsall** Registered charity number, if applicable: 1130892 I report on the accounts for the year ended 31[st] December 2021 which are set out on the following pages. ## Respective responsibilities of the Trustees and Independent Examiner The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under Section 144 of the Charities Act 2011 (the Charities Act) and th at an independent examination is needed. It is my responsibility - to examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the General Directions given by the Charity Commission - (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## Basis of Independent Examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair” view and the report is limited to those matters set out in the statement below. ## Independent Examiner's Statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect: - accounting records were not kept in accordance with section 130 of the Charities Act or - the accounts do not accord with the with the accounting records I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: ………………………………………….. Date: …26/08/2022……………………………… Jonathan Hill FCMA CGMA Lichfield Diocesan Board of Finance St Mary’s House, The Close, Lichfield WS13 7LD 10 For the year ended 31[st] December 2021 ## **The Parish of Central Wolverhampton Notes to the Financial Statements** ## **Accounting Policies** The Financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis. There may be minor discrepancies in the totals as the pence are not being shown. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. 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. ## **Cashflow Statement** The Charity has taken advantage of the exemption in FRS102 from the requirement to produce a cashflow statement on the grounds that the income does not exceed £500,000. ## **Going Concern** There are no material uncertainties relate to events or conditions that cast significant doubt on the charity’s ability to continue as a going concern. ## **Accounting Estimates and Prior Year Errors** No changes to accounting estimates have occurred in the reporting period. No material prior year errors have been identified in the reporting period ## **Description of Funds** **Unrestricted funds** are income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its "free reserves" as disclosed in the trustees' annual report. An explanation of purpose of each Designated fund are as follows: - Projects – Forthcoming projects – Money ringfenced for projects agreed by the PCC - NextGen – St Nicholas – Next Generation – Money ringfenced for St Nicholas for use for work with children. **Restricted funds** comprise of two elements :- - a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest - b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. 11 An explanation of purpose of each Restricted fund are as follows: - HFabric – Church Fabric fund –Donations and bequests for work on the Fabric and maintenance of St Nicholas Church. - SetAside – Churchyard Set Aside – Donations for maintenance of the Churchyard - Organ Fund – Donations for the maintenance of the Organ and other music facilities. - VcRedec – Codsall Vicarage Redecoration – Restricted for the re-decoration of the Vicarage - Vergers Fund – Income from Weddings and Funerals towards the Verger salary. This fund is being closed down in 2021 and Verger salary paid from General funds. All Weddings and Funeral income will be recorded in Agency account and transferred to the General fund - Vicarage – Car park fund – This was originally set up to enable the car park to be built and now represents the capital asset value of the car park. **Endowment funds** are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the accounts. An explanation of purpose of each Endowment fund are as follows: The PCC of Codsall do not hold any Endowment funds ## **Incoming Resources** Planned giving, collections and donations are recognised when received or when the PCC becomes entitled to the resource and the monetary value can be measured with sufficient reliability. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and Legacies are accounted for when the PCC is legally entitled to the amounts due and the monetary value can be measured with sufficient reliability. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross. ## **Resources Expended** Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross. ## **Governance and Support Costs** Support costs should be allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the PCC and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources eg by allocating staff costs by time spent and other costs by their usage. ## **Fixed Assets** Consecrated and benefice property is not included in the accounts by s.10(2)(a)&(C) of the Charities Act 2011. Moveable 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. No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets exceeds 50 years, so that any depreciation charges would be immaterial. Other tangible fixed assets are valued at cost apart from the Village hall which is valued on the annual rental income raised to the nearest £500 above x10. The depreciation rates and methods used are 50% per annum. 12 ## **Investments** Investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at market value at the year end. Investments held for re-sale are treated as current asset investments. ## **Debtors** Debtors are measured on initial recognition at settlement amount. Subsequently they are measured as cash expected to be received ## **Creditors and Accruals** Creditors are measured at settlement amounts less any trade discounts. Accruals are measured on best estimate of the amount required to settle the obligation at the reporting date. 13 ## _**The Parish of Codsall year ending 2021**_ ## **Receipts and Payments Account 2021** |**Receipts and endowments from:**
Donations and legacies
Receipts from charitable activities
Other trading activities
Investments
**Total receipts**
**Payments on:**
Raising funds
Payments on charitable activities
Other payments
**Total payments**
**Net receipts / (payments) resources before transfer**
**Transfers**
Gross transfers between funds - in
Gross transfers between funds - out
**Other recognised gains / losses**
Gains on revaluation, fixed assets, charity's own use
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**Unrestricted**
**Restricted**
**Endowment**
**Total**
**Prior Year**
70,863
10,215
—
81,078
98,075
19,362
—
—
19,362
17,022
19,813
—
—
19,813
16,971
1,418
6,696
—
8,114
52,638| |---|---| ||**111,458**
**16,911**
**—**
**128,369**
**184,707**
816
163
—
980
283
120,676
23,540
—
144,216
170,197
4,165
—
—
4,165
(11,748)| ||**125,657**
**23,704**
**—**
**149,362**
**158,732**| ||**(14,199)**
**(6,793)**
**—**
**(20,992)**
**25,974**
1,000
734
—
1,734
250
(1,734)
—
—
(1,734)
(250)
9,839
53,242
—
63,082
8,263| ||**(5,094)**
**47,184**
**—**
**42,089**
**34,237**| ||**486,616**
**277,483**
**—**
**764,100**
**729,862**| ||**481,522**
**324,667**
**—**
**806,190**
**764,100**| 14 ## **Statement of assets and liabilities 2021** ||**General Designated Restricted Endowment This Year Last Yr**| |---|---| |**Fixed assets - Investments**
CCLA 620010001L -
CCLA 620010001M -
CCLA 620010001P -
CCLA 620010001X -
CCLA 620010002L -
CCLA 620010002S -
CCLA 620010003L -
CCLA 620010003S -
CCLA 620010004S -
**Totals**
**Fixed assets - Tangible assets**
Churchyard -
Lectern & Fixtures, Fittings -
Fixtures, Fittings & Office eqt. dep -
Parish Rooms -
St Peter's Hall -
St Nicholas Car Park -
**Totals**
**Current assets - Cash at bank and in hand**
Barclays Bank current account -
Barclays Bank current account -
CCLA (CBF) 3D General -
CCLA (CBF) 5D Church Fabric -
CCLA (CBF) 6D Set Aside -
CCLA (CBF) 7D Projects -
Cash in hand -
Codsall PCC - St Nicholas Donations Acco
-
Lichfield IDS account -
**Totals**
**Current assets - Debtors**
Accounts Receivable -
**Totals**
**Liabilities - Agency accounts**
Agency collections -
**Totals**
**Liabilities - Creditors: Amounts falling due**
**after more than one year**
Diocesan Loan due in 2 - 5 Years -
**Totals**
**Liabilities - Creditors: Amounts falling due**
**in one year**
Diocesan Loan due in 1 Year -
Accounts Payable -
**Totals**|—
37,117
—
—
37,117
31,924
—
—
77,684
—
77,684
74,971
—
—
50,465
—
50,465
43,483
—
—
28,221
—
28,221
23,963
24,744
—
—
—
24,744
21,282
—
—
139,624
—
139,624
121,908
—
—
38,961
—
38,961
33,510
15,679
—
—
—
15,679
13,689
—
—
51,741
—
51,741
45,176| ||**40,424**
**37,117**
**386,700**
**—**
**464,241**
**409,909**
51,284
—
—
—
51,284
51,284
—
—
—
—
—
34,388
—
—
—
—
—
(31,398)
244,279
—
—
—
244,279
223,375
40,000
—
—
—
40,000
75,000
—
30,535
—
—
30,535
27,922| ||**335,563**
**30,535**
**—**
**—**
**366,098**
**380,571**
(12,249)
35,975
16,964
—
40,689
37,104
—
—
—
—
—
441
11,322
—
—
—
11,322
10,326
—
—
412
—
412
411
—
—
6,407
—
6,407
5,091
—
2,855
—
—
2,855
2,855
329
(329)
—
—
—
726
(60)
40
30
—
10
—
—
—
1,869
—
1,869
1,407| ||**(657)**
**38,540**
**25,683**
**—**
**63,566**
**58,364**
—
—
—
—
—
9,891| ||**—**
**—**
**—**
**—**
**—**
**9,891**
—
—
3,662
—
3,662
2,268| ||**—**
**—**
**3,662**
**—**
**3,662**
**2,268**
(10,915)
—
84,053
—
73,137
89,347| ||**(10,915)**
**—**
**84,053**
**—**
**73,137**
**89,347**
10,915
—
—
—
10,915
—
—
—
—
—
—
2,084| ||**10,915**
**—**
**—**
**—**
**10,915**
**2,084**| 15 |**Liabilities - Provision for liabilities and**
**charges due within one year**
Deferred Income -
Deferred Income -
**Totals**
**Grand total**|—
—
—
—
—
822
—
—
—
—
—
114| |---|---| ||**—**
**—**
**—**
**—**
**—**
**936**| ||**375,329**
**106,192**
**324,667**
**—**
**806,190**
**764,100**| Approved by the PCC on 12 04 2022 and signed on its behalf by: _······_ ·········· _tlf/.4raff>_ Revd M Mattocks Mrs A Jevons 16 ## **Analysis of receipts and payments 2021** ## **RECEIPT AND ENDOWMENTS** |**Donations and legacies**
0101 - Tax Efficient Giving
0201 - Other planned giving
0301 - Loose plate collections
0302 - St Peters Collections
0410 - Giving through church boxes
0550 - Donations appeals etc
0601 - Tax recoverable on
Stewardship
0701 - Legacies
0801 - Recurring grants
08A1 - Non-recurring one-off grants
0901 - Other funds generated
1114 - Donation - Verger Fund
1115 - Donation Organ Fund
Total
**Receipts from charitable activities**
1101 - PCC - Statutory fees for
Weddings and Fu
1150 - Wedding PCC fee
1154 - Wedding/Funeral Donation
1231 - Parish Rooms - lettings -
deposit
Total
**Other trading activities**
0910 - Social Activites
1220 - Bookstall sales fund raising
1230 - Parish Rooms lettings
1240 - St Peters Hall lettings
1250 - Magazine income advertising
1260 - Magazine income sales
Total
**Investments**
1001 - Dividends
1020 - Bank and building society
interest
1330 - Gain on investments
Total|41,368
40
150
—
41,558
67,262
1,267
—
—
—
1,267
247
1,600
—
—
—
1,600
2,227
73
—
—
—
73
142
56
—
—
—
56
238
7,506
2,858
2,165
—
12,529
2,668
13,440
—
—
—
13,440
10,356
—
—
—
—
—
4,393
—
—
7,900
—
7,900
7,900
2,233
1,000
—
—
3,233
—
(580)
—
—
—
(580)
198
—
—
—
—
—
1,991
—
—
—
—
—
450| |---|---| ||66,965
3,898
10,215
—
81,078
98,075
19,178
—
—
—
19,178
—
—
—
—
—
—
1,618
—
—
—
—
—
250
184
—
—
—
184
—| ||19,362
—
—
—
19,362
1,868
678
—
—
—
678
246
491
—
—
—
491
856
3,680
—
—
—
3,680
3,991
3,616
—
—
—
3,616
3,027
8,260
—
—
—
8,260
5,400
3,087
—
—
—
3,087
3,449| ||19,813
—
—
—
19,813
16,971
743
666
6,630
—
8,040
13,046
5
2
65
—
73
184
—
—
—
—
—
39,407| ||749
669
6,696
—
8,114
52,638| |**RECEIPTS TOTAL**|106,891
4,567
16,911
—
128,369
169,553| 17 ## **PAYMENTS** |18
**Raising funds**
1720 - Costs of stewardship
campaign
1730 - Costs of fetes & other events
1740 - Investment management
costs
Total
**Payments on charitable activities**
1801 - Giving to missionary societies
1850 - Home mission
1870 - Secular charities
1910 - Parish share
2001 - Assistant Staff costs
2010 - Youth Work salary
2011 - Tax - Inland Revenue
2012 - Youth Worker Pension
2050 - Administration Salaries
2061 - Parish Rooms - Salary
2062 - St Peter's Hall - Salary
2063 - Magazine - Salary
2064 - St Nicholas Church Cleaning -
Salary
2065 - St Peters Church Cleaning -
Salary
2070 - Organist Fee
2101 - Working expenses of Ministry
Team
2115 - Youth Work Expenses
2250 - Church Stationary
Communion Supplies
2311 - St Nicholas Church insurance
2312 - St Nicholas Church
Maintenance
2320 - Organ / piano tuning
2322 - St Peters Church insurance
2323 - St Peter's Church
maintenance
2325 - Choir
2332 - Parish Rooms insurance
2336 - Parish Rooms Maintenance
2350 - Churchyard maintenance
2352 - St Peters Hall insurance
2353 - St Peters Hall maintenance
2360 - Administration
2410 - St Nicholas Church gas
2411 - St Nicholas Church electric
2413 - St Nicholas telephone
2420 - St Peters Church electric
2421 - St Peters Church gas
2430 - Parish Rooms Electricity
2431 - Parish Rooms gas
2434 - Parish Office telephone
2443 - Vicarage telephone|294
—
—
—
294
76
522
—
—
—
522
207
—
—
163
—
163
—| |---|---| ||816
—
163
—
980
283
300
—
—
—
300
—
1,190
—
—
—
1,190
1,682
300
—
—
—
300
377
85,344
—
—
—
85,344
85,344
750
—
1,256
—
2,006
3,960
—
—
—
—
—
18,598
—
—
—
—
—
1,140
—
—
—
—
—
933
3,315
—
—
—
3,315
4,691
1,463
—
—
—
1,463
1,719
—
—
—
—
—
2,183
1,351
—
—
—
1,351
1,162
199
—
2,198
—
2,397
2,022
217
—
—
—
217
203
573
—
—
—
573
822
346
—
—
—
346
29
—
—
—
—
—
36
634
—
—
—
634
643
492
—
2,404
—
2,897
2,902
19
—
4,776
—
4,795
1,907
—
—
450
—
450
—
574
—
—
—
574
582
109
—
—
—
109
336
110
—
—
—
110
193
750
—
—
—
750
761
822
—
—
—
822
1,204
—
—
5,104
—
5,104
6,936
882
—
—
—
882
895
1,076
—
—
—
1,076
1,077
1,020
—
—
—
1,020
3,379
2,982
—
—
—
2,982
1,838
757
—
—
—
757
781
521
—
—
—
521
517
158
—
—
—
158
143
91
—
—
—
91
219
541
—
—
—
541
490
743
—
—
—
743
747
607
—
—
—
607
645
760
—
—
—
760
879| |2450 - St Peters Hall electricity
2451 - St Peters Hall gas
2455 - St Peters Hall water
2501 - Magazine expenses
2510 - Bookstall costs
2610 - Audit Fee
2702 - 2018 St N - Faculty work
2710 - Church major repairs -
installation St N
2720 - Church interior and exterior
decorating
2855 - Churchyard extension costs
Total
**Other expenditure**
2365 - Exceptional Items
2880 - Depreciation
2890 - Loss on investments
Total|278
—
—
—
278
229
846
—
—
—
846
722
159
—
—
—
159
153
6,800
—
—
—
6,800
5,704
359
—
—
—
359
748
655
—
—
—
655
325
—
—
—
—
—
309
—
2,568
—
—
2,568
—
—
—
—
—
—
8,237
—
—
7,350
—
7,350
1,775

118,107
2,568
23,540
—
144,216
170,197
553
3,611
—
—
4,165
(17,226)
—
—
—
—
—
2,537
—
—
—
—
—
2,940

553
3,611
—
—
4,165
(11,748)| |---|---| |**PAYMENTS TOTAL**|
119,477
6,179
23,704
—
149,362
158,732| ||| |**GRAND TOTAL**|
(12,586)
(1,612)
(6,793)
—
(20,992)
10,820| ## **Fund movement by type 2021** |**General - General fund**
Unrestricted
**Sub-total for General**
**IDSFund - IDS Decoration Accou**
Restricted
**Sub-total for IDSFund**
**Verger - Verger's Fund**
Restricted
**Sub-total for Verger**
**HFabric - Church Fabric Fund**
Restricted
**Sub-total for HFabric**
**SetAside - Churchyard Set Aside**
Restricted
**Sub-total for SetAside**
**Projects - Forthcoming Projects**
Designated
**Sub-total for Projects**
**Organ - Organ Fund**
Restricted
**Sub-total for Organ**
**NextGen - St Nicholas - Next G**
Designated
**Sub-total for NextGen**
**Vicarage - Car Park Fund**
Designated
**Sub-total for Vicarage**
**Grand total**|387,617
106,891
119,477
(1,734)
(8,644)
375,329| |---|---| ||**387,617**
**106,891**
**119,477**
**(1,734)**
**(8,644)**
**375,329**
1,407
62
—
400
—
1,869| ||**1,407**
**62**
**—**
**400**
**—**
**1,869**
327
—
661
334
—
—| ||**327**
**—**
**661**
**334**
**—**
**—**
145,036
7,076
9,543
—
34,408
176,533| ||**145,036**
**7,076**
**9,543**
**—**
**34,408**
**176,533**
129,140
9,048
13,049
—
19,278
144,418| ||**129,140**
**9,048**
**13,049**
**—**
**19,278**
**144,418**
70,769
4,567
6,179
1,000
5,193
75,349| ||**70,769**
**4,567**
**6,179**
**1,000**
**5,193**
**75,349**
1,571
724
450
—
—
1,845| ||**1,571**
**724**
**450**
**—**
**—**
**1,845**
307
—
—
—
—
307| ||**307**
**—**
**—**
**—**
**—**
**307**
27,922
—
—
—
2,613
30,535| ||**27,922**
**—**
**—**
**—**
**2,613**
**30,535**| ||**764,100**
**128,369**
**149,362**
**—**
**52,848**
**806,190**| 19 ## **Fund movement by type 2020** |**Fund and type**|**Fund balances**|**Incoming**|**Outgoing**|**Transfers**|**Gains and**|**Fund balances**| |---|---|---|---|---|---|---| ||**b/fwd**|**Resources**|**Resources**||**Losses**|**c/fwd**| |**Church Fabric Fund**||||||| |Restricted|138,459|22,667|16,090|0|0|145,037| |**St Nicholas Next Generation**||||||| |Designated|308|0|0|0|0|308| |**General fund**||||||| |Unrestricted|384,831|139,236|141,855|(250)|7,345|389,307| |**Forthcoming Projects**|**Fund**|||||| |Designated|65,585|7,174|5,728|0|3,738|70,769| |**Car Park Fund**||||||| |Designated|27,004|0|0|0|918|27,922| |**Codsall Vicarage Redecoration**||||||| |Restricted|1,095|63|0|250|0|1,407| |**Organ Fund**||||||| |Restricted|1,122|450|0|0|0|1,572| |**Vergers Fund**||||||| |Restricted|(20)|1,991|1,644|0|0|327| |**Churchyard Set Aside**||||||| |Restricted|111,479|26,678|9,016|0|0|129,141| |**Totals**|**729,863**|**198,259**|**174,333**|**0**|**12,001**|**765,790**| ## **Staff Costs** ||**2021**|**2020**| |---|---|---| |||| |Wages & Salaries|£13,839|£36,276| |Social SecurityCosts|£6.80|£1,143| |Average number of Employees|7|3| During the year the PCC employed an Administrator/Magazine Editor, Verger/Churchyard Supervisor, Parish Rooms Manager, Pariish Rooms Cleaner, 2 x St Nicholas Church Cleaner, St Peter’s Church Cleaner [all part-time] and no payments attracted social security costs. There were no employee benefits to key management personnel in the previous or current year. The PCC use the National Employment Savings Trust [Nest] via the Diocesan Payroll Scheme, for its pension payments [2020 £934] there were no pension payment in 2021 **COVID-19 –** The PCC received £2,233 in grants from the Government related to the Furlough Scheme ## **Trustees’ Remuneration & Expenses** One of the trustees has been paid £5,095.80 remuneration or for her duties as a Verger/Churchyard Supervisor No other Trustee received remuneration or any other benefits from employment with the PCC One trustee was reimbursed £346 for travel and subsistence during the year. ## **Related Parties** No other expenses were paid to any other PCC member, persons closely connected to them or related parties. 20 Donations from related parties [PCC members] totalled £6,875. ## **Analysis of Transfer between Funds 2021** |**Reference**|**Debit**|**Credit**|**Description**|**Fund**|**Fund Type**| |---|---|---|---|---|---| |Donation to Training Bell|-|10,000.00|Donation to Training Bell|General|Unr| |Donation to Training Bell|10,000.00|-|Donation to Training Bell|Projects|Des| |Donation to Training Bell|-|-10,000.00|Donation to Training Bell|General|Unr| |Donation to Training Bell|-10,000.00|-|Donation to Training Bell|Projects|Des| |Donation - Training Bell|-|1,000.00|Donation - Training Bell|General|Unr| |Donation - Training Bell|1,000.00|-|Donation - Training Bell|Projects|Des| |Transfer to IDS A/C|-|400|Transfer|General|Unr| |Tfr from General to Verger to bring to nil and close down|-|334.74|Tfr to Verger fund|General|Unr| |Tfr from General to Verger to bring to nil and close down|334.74|-|Tfr from General fund|Verger|Res| |Transfer to IDS A/C|400|-|Transfer|IDSFund|Res| ## **Analysis of Transfer between Funds 2020** **----- Start of picture text -----**
Reference Code description Debit Credit Description Fund Fund Type
Tfr from General to
**----- End of picture text -----**
|**Reference**
Tfr from General to|**Code description**|**Debit**|**Credit**|**Description**|**Fund**|**Fund Type**| |---|---|---|---|---|---|---| |IDS|Barclays Bank current account|-|400|Tfr from General to IDS|General|Unr| |Tfr from General to||||||| |IDS|Lichfield IDS account|400|-|Tfr from General to IDS|IDSFund|Res| ## **Fixed Assets** |a) Tangible Fixed
Assets|||**Freehold**
**Buildings**
**£**|**Church**
**Equipment**
**£**|**Total**
**Assets**| |---|---|---|---|---|---| ||Cost or Valuation||||| ||As at 1 Jan||377,581|2,990|380,571| ||Additions in the Year||0.00|0.00|0.00| ||Disposal in the Year||0.00|0.00|0.00| ||Revaluation[if any]||(11,483)|0.00|(11,483)| ||**Value at 31 Dec**||**366,098**|**2,990**|**366,098**| ||||||| ||Accumulated Depreciation||(11,483)|(2,990)|(11,483)| ||As at 1 Jan||377,581|2,990|380,571| ||Charge for the Year||0.00|0.00|0.00| ||Disposals||0.00|0.00|0.00| ||**Value at 31 Dec**||**366,098**|**0.00**|**366,098**| ||||||| ||||||| ||Net Book Value at 1 Jan 20XX||377,581|2,990|380,581| ||**Net Book Value at 31 Dec 20XX**||**366,098**|**0.00**|**366,098**| Churchyard – 2020 £51,284 - Church Lane Codsall [Valued as Agricultural land] – Land Index 2021 0% rise - £51,284 Lecturn & fixtures, Fittings - £34,388.62 – (£31,398) depreciation in 2020 = £2,990 Fully depreciated in 2021 = £0.00 Parish Rooms – 2020 £223,375- Church Road Codsall WV8 1EH [Valued via Nationwide Index] - £244,279 St Peter’s Hall – 2020 £75,000 Valued as 10 x Income received – 2021 Income £3,616 [rounded up to the nearest £500] £4,000 x 10 = £40,000 St Nicholas Car Park – 2020 £27,922 - Church Road Codsall WV8 1EH [Valued via Nationwide Index] - £30,535 21 b) Fixed Asset Investments ||**At 1 Jan**
**£**|**Additions**
**£**|**Disposals**
**£**|**Transfers**
**£**|**Change in**
**Market Value**
**£**|**At 31 Dec**
**£**| |---|---|---|---|---|---|---| |Unrestricted funds||||||| |Investments|66,895|0.00|0.00|0.00|26,326|93,221| |||||||| |Restricted Funds||||||| |Investments|343,014|0.00|0.00|0.00|43,686|386,700| |||||||| |Endowment Fund||||||| |Investments|0.00|0.00|0.00|0.00|0.00|0.00| |||||||| |||||||| |**Total**|**409,909**||**0.00**|**0.00**|**70,012**|**479,921**| CCLA 620010001L – Forthcoming Projets Fund [Designated] - £37,117 CCLA 620010001M – Churchyard Set Aside [Restricted] - £77,684 CCLA 620010001P – Church Fabric fund [Restricted] - £50,465 CCLA 620010001X – Church Fabric fund [Restricted] - £28,221 CCLA 620010002L – General fund [Unrestricted] - £24,744 CCLA 620010002S – Church Fabric fund [Restricted] £139,624 CCLA 620010003L – Church Fabric fund [Restricted] - £38,961 CCLA 620010003S – General fund [Unrestriced] - £15,679 CCLA 620010004S – Churchyard Set Aside [Restricted] £51,741 ## **Current Assets** Current Asset Investments ||**At 1 Jan**
**£**|**Additions**
**£**|**Disposals**
**£**|**Transfers**
**£**|**Change in**
**Market Value £**|**At 31 Dec**
**£**| |---|---|---|---|---|---|---| |Unrestricted funds||||||| |Investments|13,181|996|0.00|0.00|0.00|14,177| |||||||| |Restricted funds||||||| |Investments|5,502|1,317|0.00|0.00|0.00|6,819| |||||||| |Endowment funds||||||| |Investments|0.00|0.00|0.00|0.00|0.00|0.00| |||||||| |||||||| |**Total**|**18,683**|**2,313**|**0.00**|**0.00**|**0.00**|**20,996**| CCLA 620010003D – General fund [Unrestricted] - £11,322 CCLA 620010005D - Church Fabric fund [Restricted] - £412 CCLA 620010006D – Churchyard Set Aside [Restricted] - £6,407 CCLA 620010007D – Forthcoming Projects fund [Designated] £2,855 22 ## **Summary of Assets by Fund 2021** |**Unrestricted**|||||| |---|---|---|---|---|---| |General fund|375,329|—|—|375,329|387,617| |**Designated**|||||| |Car Park Fund|30,535|—|—|30,535|27,922| |Forthcoming Projects Fund|75,349|—|—|75,349|70,769| |St Nicholas - Next Generation|307|—|—|307|307| |**Restricted**|||||| |Church Fabric Fund|—|176,533|—|176,533|145,036| |Churchyard Set Aside|—|144,418|—|144,418|129,140| |IDS Decoration Account|—|1,869|—|1,869|1,407| |Organ Fund|—|1,845|—|1,845|1,571| |Verger's Fund|—|—|—|—|327| |**Total**|**481,520**|**324,665**||**806,185**|**764,096**| ## **Receipts and Payments Account 2020** ||**Unrestricted Restricted Endowment Total 2019**| |---|---| |**Income and endowments from:**
Donations and legacies
Income from charitable activities
Other trading activities
Investments
Other income
**Total income**
**Expenditure on:**
Raising funds
Expenditure on charitable activities
Other expenditure
**Total expenditure**
**Net income / (expenditure) resources before**
**transfer**|87,119
10,957
—
98,076
269,622
17,022
—
—
17,022
25,124
16,971
—
—
16,971
38,278
11,747
40,891
—
52,638
51,953
—
—
—
—
—| ||**132,859**
**51,848**
**—**
**184,707**
**384,978**
284
—
—
284
1,683
150,127
20,071
—
170,198
177,137
(14,690)
2,941
—
(11,749)
4,872| ||**135,721**
**23,012**
**—**
**158,733**
**183,692**| ||**(2,862)**
**28,836**
**—**
**25,975**
**201,286**| 23