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2022-12-31-accounts

& 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 2022

CHARITY NUMBER 1130892

The Parochial Church Council of The Parish of Codsall Trustees’ Annual Report for the year ended 31[st] December 2022

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 Margaret 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: -

Achievements and Performance

The full PCC met in January, April, May (APCM), September, November.

Codsall PCC is currently made up of a Vicar, 2 Lay Readers and 1 PTO (Permission To Officiate) Lay Reader’, 1 Churchwarden elected annually (serving a maximum 3 year term), (a second Churchwarden wasn’t elected at the 2022 APCM and the post is currently vacant), 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.

The ministers in the Parish included 1 Associate Minister Rev’d Paul Cody. 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 disruption caused by Covid.

  1. Building development – the audio visual is awaiting installation

  2. Helping people connect- A You Tube feed continues to stream services live.

  3. Sharing leadership – We have 1 member of our congregation on Reader Training.

2

Highlights of 2022

June 2nd– 5th– Platinum Jubilee celebrations. Souvenir books for the children.
13th– Archdeacon’s visitation @ Lapley
19th– District Council Civic Service (Rev. Margaret is Chaplain)
20th– Armed forces Day celebrations at the Hub.
27th– Parish Council Civic Service
July 3rd– Confirmation @ Brewood. Congratulations to Brenda, Raychel, Jane & Milo
September 8th- Queen Elizabeth II passed away.
9thBook of Condolence opened. Bells rung
10th- 16thBook of Condolence open
11th– Service commemorating the late Queen
18th– Service of Remembrance, celebrating life & service of the late Queen.
25th– Thanksgiving service for King Charles III @ St. Peter’s
25th– Curry & Cod night re-established at the Pendrell Arms
October 1st– Harvest collection Meals on Wheels
31st– Coffee morning
November 9th– Go To Place established
13th– Remembrance Sunday ( streamed live from Church and the War Memorial)
December 4th– Announcement of curate to arrive June 2023
9th/10th/11th– Christmas Tree Festival.
11th– Carol Service @ St. Nicholas
17th – Reverse advent collection
18th– Carol Service @ St. Peter’s
24th- Nativity Services. Midnight Communion
25thChristmas services @ St. Peter’s & St. Nicholas’.

Financial Review 2022

This is the second year that we have presented our accounts as Receipts and Payments and as a result comparisons with the previous year reflect a true position.

Our regular donations have increase by about 10% following a steep drop in 2021. This is still over 17% below the 2019 figure but show signs of recovery. This remains our single largest source of income and we are extremely grateful to all those who contribute. The loose plate giving has increased significantly now that regular services have resumed in 2022. The day-to-day income and expenditure have now stabilised after the 2 Covid effected years. Over that period significant losses were experienced and the cash flow in General Funds had to be supported by restricted funds. In 2022 there were two significant bequests received totalling over £21,000 which plugged the shortfall which had accumulated.

The Common Fund of £67,788 was paid in full which represented a significant reduction of around £18,000 from 2021 due to a change in the way the figure is calculated. Following this a donation of £1,000 was made to the diocese to support parishes less fortunate than ourselves. This donation was shown as missionary giving in the accounts

A training bell was installed at a cost of £7,978. This was funded largely by the Bellringers who raised most of the installation costs themselves with the PCC support of £782. A 40% deposit of £18,407 has been made as a down payment on the new AV system which is due to be installed in 2023. This project has been in process since 2018. An appeal was made in 2018/19 which raise around £12,000 and this has been supplemented with other donations. It is being paid for from the Forthcoming Projects Fund

The work on the extension to the churchyard has yet to be consecrated so cannot yet be used for burials. Codsall and Bilbrook Councils continue to support the cost of the churchyard.

3

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
12,292
-8,089
4,203
7,459
-5,561
1,898
5,988
-3,526
2,462
3,616
-1585
2,031		 Restricted
Funds
0
0
0
0
0
0
0
0
0
0
0
0		 Total Funds
2021
12,419
-9,223
3,196
3,999
-4,641
-642
3,917
-3,544
373
1,226
-881
345		 2022
12,292
-8,089
4,203
7,459
-5,561
1,898
5,988
-3,526
2,462
3,616
-1585
2,031

The income from our halls have recovered significantly. Fundraising has improved and this was largely due to the Christmas Tree Festival.

The loan taken out to build the disabled toilet and tea bar has reduced to £73,137. It is being fully funded through the Warner Bequest which has largely been invested. A £15,000 sale of stock has been made in 2022. This fund is also used to cover the maintenance of the church.

The day-to-day financial position of the church has now recovered so that the PCC is delighted to report that it has been able to resume it’s charitable giving in 2022. £500 donations were given to each of 4 specific causes - Toilet Twinning, The Well (Wolverhampton Foodbank), Solace Wolverhampton and Go To Place. This is in additional to the regular support given through some annual events. The Common Fund (formerly Parish Share) for Codsall includes 20% support for the more deprived parishes in the diocese (2022=£11,298). This year it was supplemented by the PCC with an additional £1,000. In 2022 the total voluntary giving was 2.7% of general income.

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 £29,553 [£31,414 2021]. 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 £66,054 [£39,797 2021] General Fund £69,195 [£75,656 2021] Designated funds Total £135,249 [£115,453 2021] which is 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: -

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:

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 102 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 ( 1130892) . 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

Mrs Wallin has been employed as a Verger in 2022 [and 2021] and Mrs Jevons has been employed as an Administrator in 2022 [and 2021]. They have held these posts for many years and the PCC have decided that as valued members of the congregation along with their experience that they are both able to act as a Trustees also. They would not be present during any discussions regarding their employment.

Donations from Related Parties

Donations from related parties during the year totalled £7,710 [£6,875 20210]. All of these donations were received without conditions.

Remuneration paid to Trustees

Two of the trustees have been paid £10,407.36 remuneration or for duties as a Verger and Administrator. The PCC discussed the reason for employing the two trustees and continuing as Trustees. They have both been employed for many years and it was felt that because of their years of experience in their respective roles and their years of attending St Nicholas Church that they wanted them both to continue in both roles. Any discussions about their employment are held without either of them being present No other Trustee received remuneration or any other benefits from employment with the PCC.

Expenses paid to Trustees

One trustee was reimbursed £123 for travel and subsistence during the year.

Future Plans

  1. To continue to stream our services enabling the vulnerable to participate in weekly worship

  2. To follow through on our MAP

  3. To continue support our local Foodbank

  4. To continue the ‘Go To Place’ – warm hub – in association with the local council and business

  5. To establish further ways for people to meet to consider God’s teaching via home groups.

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.

6

Grant Making Policy

Donations to be made according to the financial position within the General Fund (the income available for dayto-day use). This will vary and be set in the last quarter of the year by the PCC. The aim is to return to 3.5% of the General Fund Income which was the agreed pre Covid grant making level. The Common Fund formula for Codsall includes an additional 20% Mutual Support for more deprived parishes.

Social Investments

We suspended home communions and care home services as a result of Covid. We will look to resume them when circumstances allow.

Our prime concern during the past year has been to keep everyone visiting church safe.

7

Reference and Administrative Details.

Churches: St Nicholas, Codsall
St Peters, Codsall Wood
Independent Examiner: Mr Jonathan Hill FCMA CGMA
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
1 Angel Lane
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 2022 to the date this report was approved

Trustee name Office (if any) Dates acted if not for whole
period
Ex-Officio
The Revd M
Mattocks		 Chair
Mrs S Gilmour Reader
Mrs J Gollins Reader
Mrs J Morgans Reader
Mrs A Fletcher Church Warden
Mr C Pickering Church Warden Term ended May2022
Mrs E Wallin Diocesan Synod Representative
Mr R Marsh Deanery/Diocesan Synod Representative/Treasurer
Mrs S Cartwright DeanerySynod Representative
Mr D Carver DeanerySynod Representative/Vice Chairman
Elected Members
Mrs H Bristow
Mrs T Carver
Mrs H Edwards
Mr J Marsh
Mr I Morris
Mrs D Morris Term ended May2022
Miss B O'Connor
Mr R Palmer
Mr C Pickering Appointed May2022
Mrs S Richardson
Mrs J Symonds Appointed May2022
Mrs H Walker
Mr T West
Mrs A Jevons Co-opted/Secretary

9

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The Parish of Central Wolverhampton Notes to the Financial Statements

For the year ended 31[st] December 2022

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:

Restricted funds comprise of two elements :-

12

An explanation of purpose of each Restricted fund are as follows:

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 does 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 Indices used for revaluation of the Tangible fixed assets are ‘The Land Index and Nationwide Index’

13

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.

14

The Parish of Codsall year ending 2022

Receipts and Payments Account 2022

Unrestricted
Restricted
2022
2021
Receipts 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 / (payment) resources before
transfer
Transfers
Gross transfers between funds - in
Gross transfers between funds - out
Other recognised gains / losses
Gains / losses on investment assets
Gains on revaluation, fixed assets, charity's own
use
Net movement in funds
Total funds brought forward
Total funds carried forward		 97,631
8,867
106,498
81,078
21,502
—
21,502
19,362
29,153
—
29,153
19,813
2,196
9,100
11,297
8,114
150,484
17,967
168,452
128,369
1,481
—
1,481
980
116,733
16,484
133,218
144,216
—
—
—
4,165
118,215
16,484
134,700
149,362
32,268
1,483
33,751
(20,992)
1,530
900
2,430
2,394
(2,430)
—
(2,430)
(2,394)
(10,527)
(47,988)
(58,515)
—
44,673
(1,193)
43,479
63,082
65,514
(46,797)
18,716
42,089
481,522
324,667
806,190
764,100
547,036
277,870
824,906
806,190

15

Statement of assets and liabilities 2022

General
Designated
Restricted
2022
2021
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 -
Parish Rooms -
St Peter's Hall -
St Nicholas Car Park -
AV System 2022 -
Totals
Current assets - Cash at bank and in
hand
Barclays Bank current account -
CCLA (CBF) 3D General -
CCLA (CBF) 5D Church Fabric -
CCLA (CBF) 6D Set Aside -
CCLA (CBF) 7D Projects -
Codsall PCC - St Nicholas Donations
Acco -
Lichfield IDS account -
Lichfield Quinquennial A/c -
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 -
Totals		 —
31,908
—
31,908
37,117
—
—
68,673
68,673
77,684
—
—
44,544
44,544
50,465
—
—
8,160
8,160
28,221
21,272
—
—
21,272
24,744
—
—
123,188
123,188
139,624
—
—
33,494
33,494
38,961
13,833
—
—
13,833
15,679
—
—
45,650
45,650
51,741
35,105
31,908
323,711
390,726
464,241
59,079
—
—
59,079
51,284
259,282
—
—
259,282
244,279
60,000
—
—
60,000
40,000
—
32,410
—
32,410
30,535
—
19,517
—
19,517
—
378,361
51,927
—
430,288
366,098
18,779
17,730
16,391
52,901
40,689
12,490
—
—
12,490
11,322
—
—
417
417
412
—
—
7,860
7,860
6,407
—
—
—
—
2,855
(420)
40
390
10
10
100
—
2,369
2,469
1,869
—
—
400
400
—
30,949
17,770
27,829
76,549
63,566
1,014
—
—
1,014
—
1,014
—
—
1,014
—
—
—
533
533
3,662
—
—
533
533
3,662
—
—
62,222
62,222
73,137
—
—
62,222
62,222
73,137
—
—
10,915
10,915
10,915
—
—
10,915
10,915
10,915

16

Grand total 445,430 101,605 277,870 824,906 806,190

17

Tot• 10.915 10.915 10.915 Gr•nd tot•1 445 430 A. 18

Statement of assets and liabilities 2021

General
Designated
Restricted
2022
2021
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

19

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

Analysis of receipts and payments 2022

RECEIPTS

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
0602 - Tax recoverable on Gift
Aided Donations
0701 - Legacies
0801 - Recurring grants
08A1 - Non-recurring one-off
grants
0901 - Other funds generated
Total
Income from charitable activities
1101 - PCC - Statutory fees for
Weddings and Funerals
Total
Other trading activities
0910 - Social Activities
0915 - Christmas Tree Festival
1220 - Bookstall sales fund raising
1230 - Parish Rooms lettings
1231 - Parish Rooms - lettings -
deposit
1240 - St Peters Hall lettings
1250 - Magazine receipts
advertising
1260 - Magazine receipts sales
Total		 Unrestricted
Designated
Restricted
2021
2020
45,268
—
360
45,628
41,558
2,182
—
—
2,182
1,267
5,450
—
—
5,450
1,600
120
—
—
120
73
201
—
—
201
56
5,430
100
1,007
6,537
12,529
14,759
—
—
14,759
13,440
310
273
—
583
—
21,344
—
—
21,344
—
—
—
7,500
7,500
7,900
—
1,176
—
1,176
3,233
1,014
—
—
1,014
(580)
96,081
1,549
8,867
106,498
81,078
21,489
—
—
21,489
19,178
21,489
—
—
21,489
19,178
652
—
—
652
678
2,420
—
—
2,420
—
340
—
—
340
491
7,459
—
—
7,459
3,680
13
—
—
13
184
5,988
—
—
5,988
3,616
8,336
—
—
8,336
8,260
3,955
—
—
3,955
3,087
29,166
—
—
29,166
19,998

20

Investments

Investments
1001 - Dividends
1020 - Bank and building society
interest
1030 - Rent from lands or buildings
Total		 1,010
899
8,999
10,909
8,040
257
26
101
385
73
3
—
—
3
—
1,271
925
9,100
11,297
8,114
RECEIPTS TOTAL 148,009
2,475
17,967
168,452
128,369

PAYMENTS

Raising funds
1720 - Costs of stewardship
campaign
1730 - Costs of fetes & other
events
1735 - Christmas Tree Festival
Costs
1740 - Investment management
costs
Total
Expenditure on charitable activities
1801 - Giving to missionary
societies
1830 - Giving - relief and
development agencies
1850 - Home mission
1870 - Secular charities
1910 - Parish share
2001 - Assistant Staff costs
2050 - Administration Salaries
2061 - Parish Rooms - 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
2201 - Parish training and mission
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		 356
—
—
356
294
172
—
—
172
522
952
—
—
952
—
—
—
—
—
163
1,481
—
—
1,481
980
1,210
—
—
1,210
300
1,242
—
—
1,242
—
39
69
—
109
1,190
1,580
—
—
1,580
300
67,788
—
—
67,788
85,344
3,722
—
616
4,339
2,006
3,723
—
—
3,723
3,315
2,354
—
—
2,354
1,463
1,404
—
—
1,404
1,351
103
—
2,432
2,535
2,397
250
—
—
250
217
1,441
—
—
1,441
573
123
—
—
123
346
575
—
—
575
—
812
74
—
887
634
509
—
2,486
2,996
2,897
—
168
2,754
2,923
4,795
—
—
500
500
450
594
—
—
594
574
382
—
—
382
109
—
—
—
—
110
776
—
—
776
750

21

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
2450 - St Peters Hall electricity
2451 - St Peters Hall gas
2455 - St Peters Hall water
2501 - Magazine expenses
2510 - Bookstall costs
2610 - Audit Fee
2710 - Church major repairs -
installation St N
2855 - Churchyard extension costs
2856 - Major Churchyard Repairs
Total
Other expenditure
2365 - Exceptional Items
Total		 1,024
—
—
1,024
822
—
—
7,194
7,194
5,104
913
—
—
913
882
1,024
—
—
1,024
1,076
3,579
—
—
3,579
1,020
2,658
—
—
2,658
2,982
770
—
—
770
757
583
—
—
583
521
141
—
—
141
158
262
—
—
262
91
519
—
—
519
541
886
—
—
886
743
663
—
—
663
607
761
—
—
761
760
332
—
—
332
278
1,075
—
—
1,075
846
179
—
—
179
159
6,683
—
—
6,683
6,800
460
—
—
460
359
319
—
—
319
655
—
4,945
—
4,945
2,568
—
—
—
—
7,350
—
—
500
500
—
111,474
5,259
16,484
133,218
144,216
—
—
—
—
4,165
—
—
—
—
4,165
PAYMENTS TOTAL 112,956
5,259
16,484
134,700
149,362
GRAND TOTAL 35,052
(2,783)
1,483
33,751
(20,992)

22

Fund movement by type 2022

Opening
Incoming
Outgoing
Transfers
Gain/Loss
Closing
CarPark - Car Park Fund
Designated
Sub-total for CarPark
General - General fund
Unrestricted
Sub-total for General
IDSFund - IDS Decoration Accou
Restricted
Sub-total for IDSFund
Quinquenni - St Nicholas & St Pet
Restricted
Sub-total for Quinquenni
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
Grand total		 30,535
—
—
—
1,875
32,410
30,535
—
—
—
1,875
32,410
375,329
148,009
112,956
(2,430)
37,479
445,430
375,329
148,009
112,956
(2,430)
37,479
445,430
1,869
—
—
500
—
2,369
1,869
—
—
500
—
2,369
—
—
—
400
—
400
—
—
—
400
—
400
176,533
7,647
7,673
—
(32,885)
142,428
176,533
7,647
7,673
—
(32,885)
142,428
144,418
9,322
8,310
—
(15,102)
130,328
144,418
9,322
8,310
—
(15,102)
130,328
75,349
2,475
5,114
1,530
(5,208)
69,032
75,349
2,475
5,114
1,530
(5,208)
69,032
1,845
998
500
—
—
2,343
1,845
998
500
—
—
2,343
307
—
144
—
—
163
307
—
144
—
—
163
806,190
168,452
134,700
—
(13,842)
824,906

23

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

Staff Costs

2022 2021
Wages & Salaries £15,547 £13,839
Social SecurityCosts £0.00 £6.80
Average number of Employees 6 7

During the year the PCC employed an Administrator/Magazine Editor, Verger/Churchyard Supervisor, Parish Rooms Manager, Parish Rooms Cleaner, 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 there were no pension payments in 2022 or 2021.

24

Trustees’ Remuneration & Expenses

Two of the trustees have been paid £10,407.36 remuneration or for their duties as a Verger and Administrator . The PCC discussed the reason for employing the two trustees and continuing as Trustees. They have both been employed for many years and it was felt that because of their years of experience in their respective roles and their years of attending St Nicholas Church that they wanted them both to continue in both roles. Any discussions about their employment are held without either of them being present

No other Trustee received remuneration or any other benefits from employment with the PCC

One trustee was reimbursed £123 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.

Donations from related parties [PCC members] totalled £7,710 [£6,875 2021].

Analysis of Transfer between Funds 2022

----- Start of picture text -----
Fund
Reference Debit Credit Description Fund
Type
----- End of picture text -----

Reference Debit Credit Description Fund Fund
Type
Transfer to IDS - 500 Transfer to IDS General Unr
Donation of £50 to go to Future project
fund + Gift Aid £12.50 = £62.50 - 62.5 To Future project fund General Unr
Donation of £50 to go to Future project
fund + Gift Aid £12.50 = £62.50 62.5 - Per General Fund Projects Des
Transfer to Quinquennial Fund - 400 Transfer to Quinquennial Fund General Unr
Net receipt from Christmas Tree Festival - 1,468.30 Net receipt from Christmas Tree Festival General Unr
Net receipt from Christmas Tree Festival 1,468.30 - Net receipt from Christmas Tree Festival Projects Des
Transfer to IDS 500 - Transfer to IDS IDSFund Res
Transfer to Quinquennial Fund 400 - Transfer to Quinquennial Fund Quinquennial Res

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

25

Fixed Assets

a) Tangible Fixed
Assets		 Freehold
Buildings
£		 Church
Equipment
£		 Total
Assets
Cost or Valuation
As at 1 Jan 366,098 0.00 380,571
Additions in the Year 0.00 19,517 0.00
Disposal in the Year 0.00 0.00 0.00
Revaluation 44,673 0.00 (11,483)
Value at 31 Dec 410,771 19,517 366,098
Depreciation
As at 1 Jan 0.00 0.00 0.00
Charge for the Year 0.00 0.00 2,990
Disposals 0.00 0.00 0.00
Value at 31 Dec 0.00 0.00 2,990
Net Book Value at 1 Jan 2021 366,098 0.00 380,581
Net Book Value at 31 Dec 2021 410,771 19,517 430,288

Churchyard – 2021 £51,284 - Church Lane Codsall [Valued as Agricultural land] – Land Index 2022 14% rise - £59,079

Parish Rooms – 2021 £244,279 - Church Road Codsall WV8 1EH [Valued via Nationwide Index] - £259,282 St Peter’s Hall – 2021 £40,000 Valued as 10 x Income received – 2022 Income £5,988 [rounded up to the nearest £500] £6,000 x 10 = £60,000

St Nicholas Car Park – 2021 £30,535 - Church Road Codsall WV8 1EH [Valued via Nationwide Index] - £32,410

See the note in the Fixed Asset note in Accounting policies

b) Fixed Asset Investments

At 1 Jan
£		 Additions
£		 Disposals
£		 Transfers
£		 Change in
Market Value
£		 At 31 Dec
£
Unrestricted funds
Investments 77,540 0.00 0.00 0.00 (10,527) 67,014
Restricted Funds
Investments 386,701 0.00 (15,000) 0.00 (46,989) 324,711
Total 464,241 0.00 (15,000) 0.00 (57,516) 391,725

CCLA 620010001L – Forthcoming Projects Fund [Designated] - £31,908 [£37,117 2021] CCLA 620010001M – Churchyard Set Aside [Restricted] - £68,673 [£77,684 2021] CCLA 620010001P – Church Fabric fund [Restricted] - £44,545 [£50,465 2021] CCLA 620010001X – Church Fabric fund [Restricted] - £8,160 [£28,221 2021] CCLA 620010002L – General fund [Unrestricted] - £21,272 [£24,744 2021] CCLA 620010002S – Church Fabric fund [Restricted] £123,189 [£139,624 2021] CCLA 620010003L – Church Fabric fund [Restricted] - £33,494 [£38,961 2021] CCLA 620010003S – General fund [Unrestricted] - £13,834 [£15,679 2021] CCLA 620010004S – Churchyard Set Aside [Restricted] £45,651 [£51,741 2021]

26

Liabilities due within one year

2022
£		 2021
£
LDBF loan due < 1year 10,915 10,915
Agency 534 3,662
Total 10,915 10,915

Liabilities due after one year

2022
£		 2021
£
LDBF loan due 2 – 5years 62,222 73,137
Total 62,222 73,137

Summary of Assets by Fund 2022

Unrestricted Restricted Total 2022 Total 2021
Unrestricted
General fund 445,430 — 445,430 375,329
Designated
Car Park Fund 32,410 — 32,410 30,535
Forthcoming Projects Fund 69,032 — 69,032 75,349
St Nicholas - Next Generation 163 — 163 307
Restricted
Church Fabric Fund — 142,428 142,428 176,533
Churchyard Set Aside — 130,328 130,328 144,418
IDS Decoration Account — 2,369 2,369 1,869
Organ Fund — 2,343 2,343 1,845
St Nicholas & St Peters Quinquennial Fund — 400 400 —
Total 547,035 277,870 824,906 806,190
Summary of Assets by Fund 2021
Unrestricted Restricted Total 2021 Total 2020
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

27

SOFA – Receipts & Payments Comparatives [Previous Year 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
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
1.683
120,676
23,540
144,216
177,139
4,165
—
4,165
4,872
125,657
23,704
149,362
183,694
(14,199)
(6,793)
(20,992)
1,013
1,659
734
2,394
250
(2,394)
—
(2,394)
(250)
9,839
53,242
63,082
8,263
(5,094)
47,184
42,089
9,276
486,616
277,483
764,100
729,862
481,522
324,667
806,190
764,100

28