**REGISTERED CHARITY NUMBER: 1131228** 

## **Report of the Trustees and** 

**Financial Statements for the Year Ended 31st December 2022** 

**for** 

## **Kidderminster East PCC** 

The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU 



**Kidderminster East PCC** 

## **Contents of the Financial Statements for the Year Ended 31st December 2022** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|24|





**Kidderminster East PCC** 

## **Report of the Trustees for the Year Ended 31st December 2022** 

The trustees present their report with the financial statements of the charity for the year ended 31st December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

The principle objective in the year under review was that of promoting in the parish the whole mission of the Church. 

"Our aim is; to be a church where active followers of Jesus Christ worship God and live out His Love in the world". 

The trustees confirm that the PCC has complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance on public benefit when reviewing the PCC's aims and objectives and in planning future activities. 

Kidderminster East PCC has the responsibility of co-operating with the Team Rector, the Reverend David Hildred and the Team Vicar, the Reverend Robert Legge, in promoting in the Parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. Its primary objective is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. It also has maintenance responsibilities for the church buildings of St George's, St Chad's. St Cecilia's, St Mary's and St Cassian's. 

Following the Covid Pandemic, it has been welcome and very rewarding that in-person services have been possible this year and these have been extremely beneficial for many within our Parish. 

## **PCCs and DCCs** 

Much of the running of each church is delegated to five DCCs, which each meet six times a year. The PCC meets four times a year with additional meetings, as required. It oversees the finances of the whole parish and sets overall budget and policies. 

## **ACHIEVEMENT AND PERFORMANCE** 

Through the work of Kidderminster East Parish, each year thousands of people who are not church members have contact with us, through the range of activities and services we provide. Some of them are more specifically 'spiritual' and to do with sharing the Christian faith. Others are more simply because we respond to that faith by caring for others. The following provide examples: 

- 65 funerals and 12 committals/burial of ashes have been taken by us, where sensitive pastoral care is given to the families, as well as others who attend the ceremonies. 

- Similarly, support is provided to wedding couples with their plans & wedding preparation. In 2022, 10 weddings took place. 

- Also 15 baptisms have taken place and 5 services of thanksgiving for the birth of a child. 

- With funerals and weddings, almost invariably we receive warm thanks for the quality of service provided. 

- - The events on offer to children and families were enhanced during 2022 with theaddition of a week-long Holiday Club in August, with follow-on monthlyevents. 

- Social events have continued to be offered; these have met the needs of both churched and unchurched people, often including the needs of lonely and elderly people. 

- Church members volunteer with charities such as the Kidderminster Foodbank, HELP, along with others that offer social care. 

- Provision of warm spaces and refreshments in order to help combat the rises in the cost of living for many individuals 

- Care and maintenance of the church buildings to ensure that they are welcoming and accessible to all who use them. 

- The Parish Website remains an extremely useful tool for easily disseminating information across the Parish. 

- - Ministry amongst schools in the parish has continued with taking assemblies, offering "Open the Book" presentations, and welcoming a number of them into our churches for Christmas and Easter services. 

## **FINANCIAL REVIEW** 

Unrestricted incoming resources for the year amounted to £320,392 (2021: £304,633) and unrestricted outgoing resources amounted to £330,739 (2021: £282,507), including the contribution to the diocesan parish share, which largely provides the stipends and housing for the clergy. 

Restricted incoming resources for the year amounted to £202,130 (2021: £265,059) and restricted outgoing resources were £259,720 (2021: £280,746). 

The principle funding sources are voluntary contributions from members of the five churches in the parish and the corresponding gift aid tax reclaim. The charity also receives fee income from funerals and weddings and letting income from hiring out the church halls. 

Page 1 



**Kidderminster East PCC** 

## **Report of the Trustees for the Year Ended 31st December 2022** 

## **FINANCIAL REVIEW** (continued) 

In 2018 the Parish of Kidderminster East was appointed as the Local Trusted Organisation of Big Local DY10. Included in restricted income is the DY10 grant income of £105,416 (2021: £201,188) which was redistributed as stipulated by DY10 Big Local. 

Other restricted grants and donations were received in relation to the St Cassian's Church repairs and the St George's Roof Access project. 

## **Reserves Policy** 

It is our policy to invest our funds balances with the CBF Church of England Deposit Fund. 

The strategy agreed by the trustees is to maintain an unrestricted reserve fund equivalent to approximately 6 months’ expenditure. The PCC’s general unrestricted reserves, excluding fixed assets, were £150,951 at 31 December 2022 (2021: £153,392), representing approximately 5.5 months of unreserved expenditure, therefore the strategy has not quite been achieved this year. However the charity did have £44,410 net current assets available in designated funds which when added to general unrestricted funds would satisfy the reserves policy. 

Restricted reserves were £127,169 at 31 December 2022 (2021: £107,623), bringing total reserves to £636,746 (2021: £713,757). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The PCC of the Parish of Kidderminster East is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC of the Parish of Kidderminster East is a Registered Charity. 

The method of appointment of PCC members is set out in the Church Representation Rules. The membership of the PCC consists of the incumbent, Diocesan and Deanery Synod members on the electoral roll of the parish, churchwardens and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services/members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC. 

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. New members receive initial training into the workings of the PCC. 

Given its wide responsibilities the PCC delegates decisions regarding the day-to-day management of the five churches in the benefice to the District Church Council ("DCC") of each church but, where appropriate, the DCC's refer decisions to the PCC. The DCC's remain accountable to the PCC and report back regularly on activities and decisions in the respective churches. The PCC and DCC's have a number of committees, each dealing with a particular aspect of parish life. These committees include worship, mission and outreach and fabric and finance. Committees report back to the PCC / DCC. 

The PCC of Kidderminster East has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, duty to have due regard to the House of Bishops' guidance on safeguarding children and vulnerable adults. In accordance with the House of Bishops' Key Roles and Responsibilities of Church Office Holders and Bodies Practice Guidance issued October 2017, the PCC continues to use the Parish Dashboard provided by the Diocese of Worcester as a way of self-assessment to ensure it continues to fulfil that duty. The PCC continues to comply with the duty to have "due regard" to the House of Bishops' guidance in relation to safeguarding. 

The PCC of Kidderminster East is committed to the care, nurture and pastoral ministry of all and safeguarding is of the highest priority. We adhere to Diocesan policy and guidelines, keep our safeguarding records up to date and respond promptly when required. The PCC has identified all activities involving children, young people and vulnerable adults and reviewed its policies at its meeting on 28 February 2022. 

The PCC of Kidderminster East has put into place processes in order to adhere to General Data Protection Regulations (GDPR), which came into force in May 2018. A Parish GDPR policy and privacy notice have been produced and are displayed in the 5 churches. Consent forms are completed by anyone wishing to be contacted by the parish agreeing to the retention of their personal information, as disclosed by them. 

## **Volunteers** 

We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is 

## **Risk Assessment** 

The members of the PCC regularly review the risks to which the Council might be exposed and recommend action to mitigate these or to manage the risk appropriately. The PCC reviews its child protection and health and safety policies on an annual basis. Financial risks are regularly reviewed. Each DCC is required to carry out risk assessments of both its church premises and church activities, which has been at the forefront of planning during the Coronavirus pandemic. 

Page 2 



**Kidderminster East PCC** 

## **Report of the Trustees for the Year Ended 31st December 2022** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

The Ecclesiastical Parish of Kidderminster East is a benefice consisting of the churches of St George's, St Chad's, St Cecilia's (all in the town of Kidderminster), St Mary's, Stone and St Cassian's, Chaddesley Corbett (both in the rural hinterland to the east of the town). 

St. George's Church, situated on the corner of Radford Avenue and Birmingham Road, St. Chad's, Burcher Green, Comberton, St. Cecilia's, Hoo Road, St Mary's, Stone and St Cassian's, Chaddesley Corbett form a Team Ministry, in the Diocese of Worcester within the Church of England. The correspondence address is The Parish Office, St Cecilia's Church, 164, Hoo Road, Kidderminster DY10 1LP. 

The PCC registered as a charity on 19 August 2009. The name of the charity was "The Parochial Church Council of the Ecclesiastical Parish of St George, Kidderminster". The name was changed during the year 2012 to "The Parochial Church Council of the Parish of Kidderminster East". The registered charity number is 1131228. 

PCC members who have served during 2022 are: 

||**Diocesan**|**Deanery**|**Church**||
|---|---|---|---|---|
||**Synod**|**Synod**|**wardens**|**Notes**|
|The Reverend David Hildred|X|X||Team Rector|
|The Reverend Robert Legge||X||Team Vicar|
|Hugh Richards|X|X|X||
|Peter Gosling|X|X|||
|Rob Poulsen||X||To 23/05/2022|
|Katy Cornwell||X||To 23/05/2022|
|Tim Morris||X|||
|Robert Hudson||X||From 23/05/2022|
|John Chesworth||X||Lay Chair|
|Stephen Duckhouse||X||DS from 23/05/2022|
|David Grist||X||DS from 23/05/2022|
|Christine Hickman-Smith||X|||
|Clare Stockford||X|X|DS from 23/05/2022|
|Aley Richards||X|||
|Colin Emeny||X|X||
|Beth Richards|||||
|Anna Hanson|||||
|Shirley Cadman||||From 17/10/2022|
|Anthea Harris-Fry|||||
|Margaret Hodgson|||X||
|Geoff Surridge|||X|From 14/11/2022|
|Jean Bailey|||||
|Shirley Surridge|||||
|Andy Tainton|||X||
|David Trethewey|||X|From 23/05/2022|
|Peter Cooper||||To 23/05/2022|
|Helen Grist||||To 25/04/2022|
|John Heraty||||From 23/05/2022|
|Elaine Voice||||From 23/05/2022|
|Jennifer Tompkin||||From 23/05/2022|
|Jan Ferguson|||X||
|Les Bishton|||X||
|Bernie Halama|||||
|Rosemarie Moore|||||
|John Griffiths|||||
|Michael Gough|||X||
|Susan Laffey|||||
|David Underhill||||To 23/05/2022|
|Lyn Aston (not a Trustee)||||Treasurer|
|Jane Chapman (not a Trustee)||||Secretary|



Page 3 



**Kidderminster East PCC** 

## **Report of the Trustees for the Year Ended 31st December 2022** 

The Parish is further organised with individual church District Church Committees (DCCs) and all PCC members are also members of their own church DCC. 

## **Numbers on electoral roll:** 

|**Numbers on electoral roll:**|||
|---|---|---|
||**2022**|**2021**|
|St Cassian's|82|80|
|St Cecilia's|35|36|
|St Chad's|101|102|
|St George's|111|104|
|St Mary's|45|43|
||||
|**Total**|374|365|
||||



## **2023 APCM SAFEGUARDING REPORT** 

The care and protection of children, young people and adults involved in church activities is the responsibility of the whole Church. Everyone who participates in the life of the Church therefore has a role to play in promoting a safer church for all. Safeguarding is at the heart of the gospel. We are called to welcome and show compassion to the oppressed and vulnerable and be a voice for the voiceless victims of injustice. Safeguarding good practice in church helps us to achieve this and to develop a culture of care underpinned by God's unconditional love and welcome for all. 

We cannot place a high enough importance on safeguarding. It is vital that lessons are learned throughout the whole of the Church of England. Every day, the vulnerable come to us for shelter, for support and comfort. Their trust cannot be taken for granted. Archbishop of Canterbury, Justin Welby 

The PCC of Kidderminster East has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016, duty to have due regard to the House of Bishops' guidance on safeguarding children and vulnerable adults. In accordance with the House of Bishops' Key Roles and Responsibilities of Church Office Holders and Bodies Practice Guidance issued October 2017, the PCC utilises the Parish Dashboard provided by the Diocese of Worcester as a way of self-assessment to fulfil that duty. The PCC continues to comply with the duty to have "due regard" to the House of Bishops' guidance in relation to safeguarding. 

Safeguarding is of the highest priority. We follow Church of England and Diocesan policy, Safer Recruitment and People Management, Training and Development practice guidance. We keep our safeguarding records up to date and respond promptly when required. The PCC identified all activities involving children, young people and vulnerable adults and reviewed its policies at its meeting on 13 February 2023. 

Disclosure Barring Service (DBS) criminal record checks are updated as required (currently every 3 years). Across the parish, 110 x DBS certificates have been issued and 336 x safeguarding training courses attended. 

The Parish of Kidderminster East is committed to the safeguarding, care and nurture of all within our church community. We are committed to providing an environment where all people, especially those who may be vulnerable are able to worship and pursue their faith journey with encouragement and in safety. 

I would like to take this opportunity to thank the safeguarding leads at each church for their ongoing support. We ALL have a responsibility to safeguard and promote the welfare of children, young people and vulnerable adults and it is essential that we remain vigilant in all safeguarding matters, to ensure we may continue to grow in Christ in a safe environment. 

## **Robert Poulsen** 

Parish Safeguarding Officer 

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 

........................................................................ Reverend D Hildred - Trustee 

Page 4 



## **Independent Examiner's Report to the Trustees of Kidderminster East PCC** 

## **Independent examiner's report to the trustees of Kidderminster East PCC** 

I report to the charity trustees on my examination of the accounts of Kidderminster East PCC (the Trust) for the year ended 31st December 2022. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the **ERROR - relevant professional body must be completed**, which is one of the listed bodies. 

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 Trust 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. 

Robert Iestyn Richards 

The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU Date: ............................................. 

Page 5 



## **Kidderminster East PCC** 

## **Statement of Financial Activities for the Year Ended 31st December 2022** 

|**2022**<br>Unrestricted<br>Restricted<br>Endowment<br>**Total**<br>funds<br>funds<br>fund<br>**funds**<br>Notes<br>£<br>£<br>£<br>**£**<br>**INCOME AND ENDOWMENTS**<br>**FROM**<br>Donations and legacies<br>2<br>**225,944**<br>**199,539**<br>**-**<br>**425,483**<br>**Charitable activities**<br>5<br>Charitable Activities<br>**53,815**<br>**-**<br>**-**<br>**53,815**<br>Other trading activities<br>3<br>**23,160**<br>**145**<br>**-**<br>**23,305**<br>Investment income<br>4<br>**1,149**<br>**2,436**<br>**-**<br>**3,585**<br>Other income<br>6<br>**16,324**<br>**10**<br>**-**<br>**16,334**<br>**Total**<br>**320,392**<br>**202,130**<br>**-**<br>**522,522**<br>**EXPENDITURE ON**<br>Raising funds<br>7<br>**6,205**<br>**-**<br>**-**<br>**6,205**<br>**Charitable activities**<br>8<br>Charitable Activities<br>**324,534**<br>**259,720**<br>**-**<br>**584,254**<br>**Total**<br>**330,739**<br>**259,720**<br>**-**<br>**590,459**<br>Net gains/(losses) on<br>investments<br>**(873)**<br>**(8,201)**<br>**-**<br>**(9,074)**<br>**NET INCOME/(EXPENDITURE)**<br>**(11,220)**<br>**(65,791)**<br>**-**<br>**(77,011)**<br>**Transfers between funds**<br>19<br>**(80,878)**<br>**85,337**<br>**(4,459)**<br>**-**<br>**Net movement in funds**<br>**(92,098)**<br>**19,546**<br>**(4,459)**<br>**(77,011)**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**601,675**<br>**107,623**<br>**4,459**<br>**713,757**<br>**TOTAL FUNDS CARRIED**<br>**FORWARD**<br>**509,577**<br>**127,169**<br>**-**<br>**636,746**|2021<br>Total<br>funds<br>£<br>505,792<br>47,608<br>6,445<br>2,788<br>7,049|
|---|---|
||569,682|
||3,828<br>559,425|
||563,253|
||9,126|
||15,555<br>-|
||15,555<br>698,202|
||713,757|



The notes form part of these financial statements 

Page 6 



## **Kidderminster East PCC** 

## **Balance Sheet 31st December 2022** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>14<br>Investments<br>15<br>**CURRENT ASSETS**<br>Stocks<br>16<br>Debtors<br>17<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one<br>year<br>18<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS**<br>**CURRENT LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>19<br>Unrestricted funds<br>Restricted funds<br>Endowment funds<br>**TOTAL FUNDS**|Unrestricted<br>funds<br>£<br>**307,679**<br>**6,538**<br>**314,217**<br>**40**<br>**22,694**<br>**188,337**<br>**211,071**<br>**(15,711)**<br>**195,360**<br>**509,577**<br>**509,577**|Restricted<br>funds<br>£<br>**-**<br>**56,178**<br>**56,178**<br>**-**<br>**-**<br>**123,355**<br>**123,355**<br>**(52,364)**<br>**70,991**<br>**127,169**<br>**127,169**|Endowment<br>fund<br>£<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|**2022**<br>**Total**<br>**funds**<br>**£**<br>**307,679**<br>**62,716**<br>**370,395**<br>**40**<br>**22,694**<br>**311,692**<br>**334,426**<br>**(68,075)**<br>**266,351**<br>**636,746**<br>**636,746**<br>**509,577**<br>**127,169**<br>**-**<br>**636,746**|2021<br>Total<br>funds<br>£<br>332,592<br>73,117|
|---|---|---|---|---|---|
||||||405,709<br>100<br>24,748<br>373,253|
||||||398,101<br>(90,053)|
||||||308,048|
||||||713,757|
||||||713,757|
||||||601,675<br>107,623<br>4,459|
||||||713,757|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. Reverend D Hildred - Trustee 

The notes form part of these financial statements 

Page 7 



## **Kidderminster East PCC** 

## **Cash Flow Statement for the Year Ended 31st December 2022** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash (used in)/provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of fixed asset investments<br>Sale of tangible fixed assets<br>Sale of fixed asset investments<br>Interest received<br>Dividends received<br>Net cash provided by investing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|**2022**<br>**£**<br>**(66,472)**<br>**(66,472)**<br>**(25,456)**<br>**-**<br>**26,782**<br>**893**<br>**2,692**<br>**4,911**<br>**(61,561)**<br>**373,253**<br>**311,692**|2021<br>£<br>17,148|
|---|---|---|
|||17,148|
|||-<br>1,000<br>-<br>163<br>2,625|
|||3,788|
||||
|||20,936<br>352,317|
|||373,253|



The notes form part of these financial statements 

Page 8 



## **Kidderminster East PCC** 

## **Notes to the Cash Flow Statement for the Year Ended 31st December 2022** 

## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**ACTIVITIES**|||
|---|---|---|
|**Net (expenditure)/income for the reporting period (as per the**<br>**Statement of Financial Activities)**<br>**Adjustments for:**<br>Depreciation charges<br>Losses/(gain) on investments<br>Interest received<br>Dividends received<br>Decrease in stocks<br>Decrease in debtors<br>Decrease in creditors<br>**Net cash (used in)/provided by operations**|**2022**<br>**£**<br>**(77,011)**<br>**24,914**<br>**9,074**<br>**(893)**<br>**(2,692)**<br>**60**<br>**2,054**<br>**(21,978)**<br>**(66,472)**|2021<br>£<br>15,555<br>24,970<br>(9,126)<br>(163)<br>(2,625)<br>-<br>16,385<br>(27,848)|
|||17,148|



## **2. ANALYSIS OF CHANGES IN NET FUNDS** 

||At 1.1.22|Cash flow|**At 31.12.22**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank|**373,253**|**(61,561)**|**311,692**|
||**373,253**|**(61,561)**|**311,692**|
|**Total**|**373,253**|**(61,561)**|**311,692**|



The notes form part of these financial statements 

Page 9 



**Kidderminster East PCC** 

## **Notes to the Financial Statements for the Year Ended 31st December 2022** 

## **1. ACCOUNTING POLICIES** 

## **BASIS OF PREPARING THE FINANCIAL STATEMENTS** 

The financial statements of the charity, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. 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 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. 

## **INCOME** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Fundraising** 

Funds raised from events and trading activities (e.g. a fête, a garden party or sales of books and magazines) are reported gross in the SOFA, i.e. before any related costs that may have been deducted from the gross proceeds. 

## **Grants and donations (incorporating government grants)** 

Grants and donations are included in the SOFA when the charity is entitled to the funds, i.e. when any preconditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received. 

## **Legacies** 

Legacies are included when the amount receivable has been reasonably ascertained and notified by the executors. 

## **Gift Aid** 

Gift Aid and other tax claims are included in the SOFA at the same time as the cash donations to which they relate. 

## **Volunteer Help** 

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report. 

## **Rental income** 

Rental income from the letting of church premises is recognised when the rental is due. 

## **Investment income** 

This is included in the accounts when receivable. 

## **Investment gains and losses** 

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 

## **EXPENDITURE** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Support costs are included within charitable expenditure. 

Page 10 

continued... 



**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **EXPENDITURE** 

## **Governance costs** 

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. 

## **Grants payable without performance conditions** 

These are recognised in the accounts when a commitment has been made externally and there are no preconditions still to be met for entitlement to the grant which remain within the control of the PCC. 

## **Liability recognition** 

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

## **TANGIBLE FIXED ASSETS** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Freehold property - 2% on cost Fixtures and fittings -           33% on cost, 25% on cost, 20% on cost, 15% on reducing balance, 10% on cost and 5% on cost 

Expenditure is capitalised if the item can be used for more than one year, at cost of at least £1,000. The assets are valued at cost less depreciation. 

## **Consecrated and benefice property** 

Consecrated and benefice property of any kind is excluded from the financial statements by Section 10(2) (a) and (c) of the Charities Act 2011. 

## **Moveable church furnishings** 

These are capitalised at cost and depreciated over their useful economic life other than where insufficient cost information is available. In this case the item is not capitalised, but all items are included in the Church’s inventory in any case. 

## **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.   Other investment assets are included at trustees’ best estimate of market value. 

## **Short-term deposits** 

Include cash held on deposit either with the CBF Church of England Funds or at the bank. 

## **STOCKS** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **TAXATION** 

The charity is exempt from tax on its charitable activities. 

## **FUND ACCOUNTING** 

## **Unrestricted funds** 

These represent the remaining 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’ report. 

## **Restricted funds** 

These are income funds that must be spent in accordance with specific restrictions imposed by donors (including funds raised by the PCC for a specific purpose) and details of the funds held and restrictions provided are shown in the notes to the accounts. 

## **Endowment funds** 

These 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. 

Page 11 

continued... 



**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **1. ACCOUNTING POLICIES - continued** 

## **Redundancy and termination payments** 

Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the charity is either demonstrably committed to either: terminate the employment of an employee or group of employees before normal retirement date; or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The charity is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan. 

## **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. 

## **2. DONATIONS AND LEGACIES** 

|Unrestricted<br>funds<br>£<br>Donations<br>**179,021**<br>Gift aid<br>**32,651**<br>Legacies<br>**2,500**<br>Grants<br>**11,772**<br>**225,944**|Restricted<br>Endowment<br>funds<br>funds<br>£<br>£<br>**8,606**<br>**-**<br>**356**<br>**-**<br>**-**<br>**-**<br>**190,577**<br>**-**<br>**199,539**<br>**-**|**2022**<br>**Total**<br>**funds**<br>**£**<br>**187,627**<br>**33,007**<br>**2,500**<br>**202,349**<br>**425,483**|2021<br>Total<br>funds<br>£<br>208,265<br>38,720<br>8,041<br>250,766|
|---|---|---|---|
||||505,792|



Grants received, included in the above, are as follows: 

|All Churches Trust<br>Commonwealth War Graves<br>Coronavirus Job Retention Scheme<br>The Friends of St Cassian's Chaddesley Corbett<br>Garfield Weston Foundation<br>Historic England<br>Limoges Trust<br>Listed Places of Worship<br>Local Trust (as Local Trusted Organisation)<br>National Churches Trust<br>Stone Parish Council<br>Stone Parochial Charity<br>The Wildlife Trusts<br>Worcester Diocesan Board of Finance<br>Worcestershire County Council<br>Wyre Forest District Council|**2022**<br>**£**<br>**4,000**<br>**15**<br>**-**<br>**45,517**<br>**7,500**<br>**-**<br>**-**<br>**24,997**<br>**105,416**<br>**5,000**<br>**750**<br>**2,245**<br>**-**<br>**5,959**<br>**200**<br>**750**<br>**202,349**|2021<br>£<br>-<br>15<br>3,300<br>-<br>-<br>7,906<br>2,225<br>1,581<br>201,188<br>-<br>750<br>3,473<br>17,000<br>-<br>-<br>13,328|
|---|---|---|
|||250,766|



Page 12 

continued... 



**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

|**3.**<br>**OTHER TRADING ACTIVITIES**<br>Unrestricted<br>Restricted<br>Endowment<br>funds<br>funds<br>funds<br>£<br>£<br>£<br>Fundraising events<br>**14,350**<br>**145**<br>**-**<br>Café and coffee shop<br>**8,810**<br>**-**<br>**-**<br>**23,160**<br>**145**<br>**-**<br>**4.**<br>**INVESTMENT INCOME**<br>Unrestricted<br>Restricted<br>Endowment<br>funds<br>funds<br>funds<br>£<br>£<br>£<br>Dividends<br>**349**<br>**2,343**<br>**-**<br>Deposit account interest<br>**800**<br>**93**<br>**-**<br>**1,149**<br>**2,436**<br>**-**<br>**5.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Church Hall letting<br>Charitable Activities<br>Parish Magazine<br>Charitable Activities<br>Fees<br>Charitable Activities<br>**6.**<br>**OTHER INCOME**<br>Unrestricted<br>Restricted<br>Endowment<br>funds<br>funds<br>funds<br>£<br>£<br>£<br>Sundry<br>**16,324**<br>**10**<br>**-**<br>**7.**<br>**RAISING FUNDS**<br>**RAISING DONATIONS AND LEGACIES**<br>Unrestricted<br>Restricted<br>Endowment<br>funds<br>funds<br>funds<br>£<br>£<br>£<br>Fundraising events<br>**3,295**<br>**-**<br>**-**<br>**OTHER TRADING ACTIVITIES**<br>Unrestricted<br>Restricted<br>Endowment<br>funds<br>funds<br>funds<br>£<br>£<br>£<br>Café and coffee shop<br>expenses<br>**2,910**<br>**-**<br>**-**<br>Aggregate amounts<br>**6,205**<br>**-**<br>**-**|**2022**<br>**Total**<br>**funds**<br>**£**<br>**14,495**<br>**8,810**<br>**23,305**<br>**2022**<br>**Total**<br>**funds**<br>**£**<br>**2,692**<br>**893**<br>**3,585**<br>**2022**<br>**£**<br>**28,701**<br>**8,736**<br>**16,378**<br>**53,815**<br>**2022**<br>**Total**<br>**funds**<br>**£**<br>**16,334**<br>**2022**<br>**Total**<br>**funds**<br>**£**<br>**3,295**<br>**2022**<br>**Total**<br>**funds**<br>**£**<br>**2,910**<br>**6,205**|2021<br>Total<br>funds<br>£<br>4,038<br>2,407|2021<br>Total<br>funds<br>£<br>4,038<br>2,407|
|---|---|---|---|
|||6,445||
|||2021<br>Total<br>funds<br>£<br>2,625<br>163<br>2,788<br>2021<br>£<br>8,660<br>10,569<br>28,379||
|||47,608||
|||2021<br>Total<br>funds<br>£<br>7,049||
|||2021<br>Total<br>funds<br>£<br>2,627<br>2021<br>Total<br>funds<br>£<br>1,201<br>3,828||
||||3,828|



Page 13 

continued... 



**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

|**8.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Charitable Activities<br>**9.**<br>**DIRECT COSTS OF CHARITABLE ACTIVITIES**<br>Staff costs<br>Rates and water<br>Insurance<br>Light and heat<br>Telephone and internet<br>Postage and stationery<br>Mission & Charitable Giving<br>Ministry - Diocesan Parish Share<br>Travel<br>Church Running Expenses<br>Church Maintenance<br>Churchyard upkeep<br>Clerical Assistance<br>Church Hall running costs<br>Subscriptions<br>Social Media<br>Upkeep of services<br>Youth work<br>Magazine costs<br>Education<br>Sundry<br>Verger, organist<br>Professional fees<br>Depreciation<br>**10.**<br>**SUPPORT COSTS**<br>Charitable Activities<br>Support costs, included in the above, are as follows:<br>Bank charges<br>Independent examination|Direct<br>Support<br>Costs (see<br>costs (see<br>note 9)<br>note 10)<br>£<br>£<br>**579,015**<br>**5,239**<br>**2022**<br>**£**<br>**4,018**<br>**181**<br>**10,849**<br>**17,797**<br>**1,176**<br>**1,503**<br>**106,821**<br>**131,511**<br>**1,640**<br>**1,842**<br>**157,781**<br>**2,157**<br>**46,541**<br>**1,789**<br>**2,130**<br>**2,499**<br>**1,383**<br>**291**<br>**4,110**<br>**1,044**<br>**18,076**<br>**4,350**<br>**34,612**<br>**24,914**<br>**579,015**<br>Governance<br>Finance<br>costs<br>£<br>£<br>**619**<br>**4,620**<br>**2022**<br>Charitable<br>Activities<br>**£**<br>**619**<br>**4,620**<br>**5,239**|Totals<br>£<br>**584,254**|Totals<br>£<br>**584,254**|
|---|---|---|---|
|||2021<br>£<br>3,752<br>150<br>9,956<br>11,282<br>1,114<br>2,131<br>201,937<br>129,633<br>635<br>1,498<br>88,285<br>2,554<br>42,538<br>939<br>1,854<br>4,917<br>1,368<br>785<br>5,499<br>143<br>9,356<br>3,350<br>6,039<br>24,970||
|||554,685||
|||Totals<br>£<br>**5,239**<br>2021<br>Total<br>activities<br>£<br>**-**<br>**4,740**<br>**4,740**||
||||**4,740**|



Page 14 

continued... 



**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **11. TRUSTEES' REMUNERATION AND BENEFITS** 

During the year £597 was paid to T Morris, a member of St George's District Church Council, in his capacity as Director of Music at St George's Church (2021: £1,688). This is permitted by the PCC's governing document, the Parochial Church Councils (Powers) Measure 1956. 

Also during the year £13,809 was payable to R Hudson, a member of St George's District Church Council, in his capacity administering the funds for Big Local DY10 (2021: £6,039). 

## **TRUSTEES' EXPENSES** 

Two trustees were paid travel expenses totalling £1,640 and one was reimbursed £544 for telephone and other sundry costs (2021: one trustee reimbursed £953). 

## **12. STAFF COSTS** 

||**2022**|2021|
|---|---|---|
||**£**|£|
|Wages and salaries|**41,757**|48,384|
|Employer pensions|**1,994**|2,285|
|Redundancy|**7,725**|-|
||||
|Total|**51,476**|50,669|
||||
||||



The average monthly number of employees during the year was as follows: 

||**2022**|2021|
|---|---|---|
|Average number of employees|**6**|8|



No employees received emoluments in excess of £60,000. 

|**13.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>Restricted<br>Endowment<br>funds<br>funds<br>fund<br>£<br>£<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>243,045<br>262,747<br>-<br>**Charitable activities**<br>Charitable Activities<br>47,608<br>-<br>-<br>Other trading activities<br>6,445<br>-<br>-<br>Investment income<br>486<br>2,302<br>-<br>Other income<br>7,049<br>-<br>-<br>**Total**<br>304,633<br>265,049<br>-<br>**EXPENDITURE ON**<br>Raising funds<br>3,828<br>-<br>-<br>**Charitable activities**<br>Charitable Activities<br>278,679<br>280,746<br>-<br>**Total**<br>282,507<br>280,746<br>-<br>Net gains on investments<br>928<br>8,198<br>-<br>**NET INCOME/(EXPENDITURE)**<br>23,054<br>(7,499)<br>-<br>**Transfers between funds**<br>(26,110)<br>26,110<br>-<br>**Net movement in funds**<br>(3,056)<br>18,611<br>-|Total<br>funds<br>£<br>505,792<br>47,608<br>6,445<br>2,788<br>7,049|
|---|---|
||569,682|
||3,828<br>559,425|
||563,253|
||9,126|
||15,555<br>-|
||15,555|



Page 15 

continued... 



## **Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

|**13.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**<br>Unrestricted<br>Restricted<br>funds<br>funds<br>£<br>£<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>604,731<br>89,012<br>**TOTAL FUNDS CARRIED FORWARD**<br>601,675<br>107,623<br>**14.**<br>**TANGIBLE FIXED ASSETS**<br>Freehold<br>property<br>£<br>**COST**<br>At 1st January 2022 and<br>31st December 2022<br>**195,450**<br>**DEPRECIATION**<br>At 1st January 2022<br>**52,740**<br>Charge for year<br>**3,909**<br>At 31st December 2022<br>**56,649**<br>**NET BOOK VALUE**<br>At 31st December 2022<br>**138,801**<br>At 31st December 2021<br>142,710<br>**15.**<br>**FIXED ASSET INVESTMENTS**<br>**MARKET VALUE**<br>At 1st January 2022<br>Additions<br>Disposals<br>Revaluations<br>At 31st December 2022<br>**NET BOOK VALUE**<br>At 31st December 2022<br>At 31st December 2021|<br>Endowment<br>Total<br>fund<br>funds<br>£<br>£<br>4,459<br>698,202<br>4,459<br>713,757<br>Fixtures<br>and<br>fittings<br>Totals<br>£<br>£<br>**298,440**<br>**493,890**<br>**108,558**<br>**161,298**<br>**21,004**<br>**24,913**<br>**129,562**<br>**186,211**<br>**168,878**<br>**307,679**<br>189,882<br>332,592<br>Listed<br>investments<br>£<br>**73,117**<br>**25,456**<br>**(26,784)**<br>**(9,073)**<br>**62,716**<br>**62,716**<br>73,117|Total<br>funds<br>£<br>698,202|
|---|---|---|
|||713,757|



There were no investment assets outside the UK. 

Page 16 

continued... 



**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

|**16.**<br>**STOCKS**<br>Stocks<br>**17.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other debtors<br>Gift Aid recoverable<br>Accrued income<br>Prepayments<br>**18.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>Pensions<br>Funds held as agent<br>Deferred income<br>Accrued expenses|**2022**<br>**£**<br>**40**<br>**2022**<br>**£**<br>**9,667**<br>**10,790**<br>**932**<br>**1,305**<br>**22,694**<br>**2022**<br>**£**<br>**1,410**<br>**55**<br>**283**<br>**1,700**<br>**53,964**<br>**10,663**<br>**68,075**|2021<br>£<br>100<br>2021<br>£<br>2,107<br>14,056<br>4,579<br>4,006|2021<br>£<br>100|
|---|---|---|---|
|||24,748||
|||2021<br>£<br>3,010<br>55<br>381<br>-<br>79,908<br>6,699||
|||90,053||



Deferred income includes deposits of £1,600 (2021: £5,764) for events which have not yet taken place. Also included within deferred income is £52,365 (2021: £74,144) of restricted grant income from Big Local DY10. The funds are held by St George's DCC as the Local Trusted Organisation and are distributable with the approval of the Big Local DY10 Chair. Any grant income which has not been distributed at the end of the Local Trust programme, is repayable to the Local Trust. 

The 'funds held as agent' of £1,700 relates to monies held by St Cecilia's DCC on behalf of Young at Heart. 

Page 17 

continued... 



**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **19. MOVEMENT IN FUNDS** 

|**MOVEMENT IN FUNDS**|||||
|---|---|---|---|---|
|||Net|Transfers||
|||movement|between|At|
||At 1.1.22|in funds|funds|31.12.22|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|**493,395**|**(11,811)**|**(19,629)**|**461,955**|
|St Chad's Cafe Fund|**3,194**|**765**|**-**|**3,959**|
|St Chad's Legacy Fund|**2,262**|**-**|**251**|**2,513**|
|St George's DCC - Roof Access Fund|**26,500**|**-**|**(26,500)**|**-**|
|Parish Office - Leswell Street Fund|**76,324**|**(174)**|**(35,000)**|**41,150**|
||**601,675**|**(11,220)**|**(80,878)**|**509,577**|
|**Restricted funds**|||||
|St Cassian's Chancel Fund|**-**|**(743)**|**1,436**|**693**|
|St Cassian's Church Bells Fund|**1,460**|**(1,460)**|**-**|**-**|
|St Cassian's E. Pratt Fund|**8,781**|**(1,004)**|**-**|**7,777**|
|St Cassian's Greatwich Fund|**23,436**|**34**|**4,459**|**27,929**|
|St Cassian's John Giles Bellringer Fund|**999**|**(131)**|**-**|**868**|
|St Cassian's Mills Children's Activities Fund|**2,504**|**(169)**|**-**|**2,335**|
|St Cassian's Mitchell Charity|**3,784**|**(2,348)**|**(1,436)**|**-**|
|St Cassian's William Sebright Fund|**22,432**|**(3,700)**|**-**|**18,732**|
|St Cecilia's Jubilee Fund|**-**|**38**|**-**|**38**|
|St Cecilia's Warm Space Fund|**-**|**572**|**-**|**572**|
|St Chad's Repair Fund|**-**|**251**|**(251)**|**-**|
|St Chad's Community Support Fund|**-**|**5,665**|**-**|**5,665**|
|St George's DCC - Choir and Organ Fund|**440**|**(2)**|**-**|**438**|
|St George's DCC - General Purchase Fund|**190**|**9**|**-**|**199**|
|St George's DCC - Knit and Knatter Fund|**-**|**201**|**-**|**201**|
|St George's DCC - Macfarlane Fund|**14,582**|**(1,860)**|**-**|**12,722**|
|St George's DCC - Roof Access Fund|**13,933**|**(60,062)**|**81,129**|**35,000**|
|St Mary's DCC - Bell / Tower Repairs Fund|**3,248**|**-**|**-**|**3,248**|
|St Mary's DCC - Corner Cafe Fund|**400**|**-**|**-**|**400**|
|Parish Office - Emily Jane Brooks Fund|**1,500**|**(1,145)**|**-**|**355**|
|Parish Office - Mary Wilcox Fund|**9,934**|**63**|**-**|**9,997**|
||**107,623**|**(65,791)**|**85,337**|**127,169**|
|**Endowment funds**|||||
|St Cassian's Endowment Fund|**4,459**|**-**|**(4,459)**|**-**|
|**TOTAL FUNDS**|**713,757**|**(77,011)**|**-**|**636,746**|



Page 18 

continued... 



## **Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **19. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>St Chad's Cafe Fund<br>Parish Office - Leswell Street Fund<br>**Restricted funds**<br>St Cassian's Chancel Fund<br>St Cassian's Church Bells Fund<br>St Cassian's E. Pratt Fund<br>St Cassian's General Repair Fund<br>St Cassian's Greatwich Fund<br>St Cassian's John Giles Bellringer Fund<br>St Cassian's Mills Children's Activities Fund<br>St Cassian's Mitchell Charity<br>St Cassian's William Sebright Fund<br>St Cecilia's Jubilee Fund<br>St Cecilia's Miscellaneous Expenses Fund<br>St Cecilia's Warm Space Fund<br>St Chad's Repair Fund<br>St Chad's Community Support Fund<br>St George's DCC - Big Local DY10<br>St George's DCC - Choir and Organ Fund<br>St George's DCC - General Purchase Fund<br>St George's DCC - Knit and Knatter Fund<br>St George's DCC - Macfarlane Fund<br>St George's DCC - Roof Access Fund<br>Heating Fund<br>St Mary's DCC - Churchyard Fund<br>Parish Office - Emily Jane Brooks Fund<br>Parish Office - Mary Wilcox Fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>**313,889**<br>**6,248**<br>**255**<br>**320,392**<br>**-**<br>**28**<br>**188**<br>**45,517**<br>**518**<br>**22**<br>**49**<br>**44**<br>**496**<br>**250**<br>**254**<br>**662**<br>**500**<br>**5,665**<br>**105,416**<br>**-**<br>**10**<br>**300**<br>**373**<br>**33,911**<br>**6,459**<br>**750**<br>**655**<br>**63**<br>**202,130**<br>**522,522**|Resources<br>expended<br>£<br>**(325,256)**<br>**(5,483)**<br>**-**<br>**(330,739)**<br>**(743)**<br>**(1,386)**<br>**(210)**<br>**(45,517)**<br>**(190)**<br>**(40)**<br>**-**<br>**(167)**<br>**(1,600)**<br>**(212)**<br>**(254)**<br>**(90)**<br>**(249)**<br>**-**<br>**(105,416)**<br>**(2)**<br>**(1)**<br>**(99)**<br>**(562)**<br>**(93,973)**<br>**(6,459)**<br>**(750)**<br>**(1,800)**<br>**-**<br>**(259,720)**<br>**(590,459)**|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>**(444)**<br>**(11,811)**<br>**-**<br>**765**<br>**(429)**<br>**(174)**<br>**(873)**<br>**(11,220)**<br>**-**<br>**(743)**<br>**(102)**<br>**(1,460)**<br>**(982)**<br>**(1,004)**<br>**-**<br>**-**<br>**(294)**<br>**34**<br>**(113)**<br>**(131)**<br>**(218)**<br>**(169)**<br>**(2,225)**<br>**(2,348)**<br>**(2,596)**<br>**(3,700)**<br>**-**<br>**38**<br>**-**<br>**-**<br>**-**<br>**572**<br>**-**<br>**251**<br>**-**<br>**5,665**<br>**-**<br>**-**<br>**-**<br>**(2)**<br>**-**<br>**9**<br>**-**<br>**201**<br>**(1,671)**<br>**(1,860)**<br>**-**<br>**(60,062)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(1,145)**<br>**-**<br>**63**<br>**(8,201)**<br>**(65,791)**<br>**(9,074)**<br>**(77,011)**|
|---|---|---|---|



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**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **19. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>St Chad's Cafe Fund<br>St Chad's Legacy Fund<br>St George's DCC - Roof Access Fund<br>Parish Office - Leswell Street Fund<br>**Restricted funds**<br>St Cassian's Church Bells Fund<br>St Cassian's E. Pratt Fund<br>St Cassian's Greatwich Fund<br>St Cassian's John Giles Bellringer Fund<br>St Cassian's Mills Children's Activities Fund<br>St Cassian's Mitchell Charity<br>St Cassian's Organ Fund<br>St Cassian's William Sebright Fund<br>St Chad's Repair Fund<br>St George's DCC - Choir and Organ Fund<br>St George's DCC - General Purchase Fund<br>St George's DCC - Knit and Knatter Fund<br>St George's DCC - Macfarlane Fund<br>St George's DCC - Roof Access Fund<br>St Mary's DCC - Bell / Tower Repairs Fund<br>St Mary's DCC - Corner Cafe Fund<br>Parish Office - Emily Jane Brooks Fund<br>Parish Office - Mary Wilcox Fund<br>**Endowment funds**<br>St Cassian's Endowment Fund<br>**TOTAL FUNDS**|At 1.1.21<br>£<br>468,655<br>3,114<br>14,131<br>43,000<br>75,831<br>604,731<br>1,505<br>7,821<br>22,520<br>916<br>2,226<br>3,449<br>632<br>20,871<br>-<br>440<br>250<br>379<br>12,946<br>-<br>3,248<br>400<br>1,484<br>9,925<br>89,012<br>4,459<br>698,202|Net<br>movement<br>in funds<br>£<br>22,481<br>80<br>-<br>-<br>493<br>23,054<br>(45)<br>960<br>2,481<br>83<br>278<br>335<br>401<br>1,561<br>(11,869)<br>-<br>(60)<br>(379)<br>1,636<br>(2,906)<br>-<br>-<br>16<br>9<br>(7,499)<br>-<br>15,555|Transfers<br>between<br>funds<br>£<br>2,259<br>-<br>(11,869)<br>(16,500)<br>-<br>(26,110)<br>-<br>-<br>(1,565)<br>-<br>-<br>-<br>(1,033)<br>-<br>11,869<br>-<br>-<br>-<br>-<br>16,839<br>-<br>-<br>-<br>-<br>26,110<br>-<br>-|At<br>31.12.21<br>£<br>493,395<br>3,194<br>2,262<br>26,500<br>76,324|
|---|---|---|---|---|
|||||601,675<br>1,460<br>8,781<br>23,436<br>999<br>2,504<br>3,784<br>-<br>22,432<br>-<br>440<br>190<br>-<br>14,582<br>13,933<br>3,248<br>400<br>1,500<br>9,934|
|||||107,623<br>4,459|
|||||713,757|



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**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **19. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|303,304|(281,295)|472|22,481|
|St Chad's Cafe Fund|1,292|(1,212)|-|80|
|Parish Office - Leswell Street Fund|37|-|456|493|
||304,633|(282,507)|928|23,054|
|**Restricted funds**|||||
|St Cassian's Church Bells Fund|36|(260)|179|(45)|
|St Cassian's E. Pratt Fund|183|(110)|887|960|
|St Cassian's General Repair Fund|3,225|(3,225)|-|-|
|St Cassian's Greatwich Fund|487|(405)|2,399|2,481|
|St Cassian's John Giles Bellringer Fund|21|(40)|102|83|
|St Cassian's Mills Children's Activities Fund|46|-|232|278|
|St Cassian's Mitchell Charity|57|-|278|335|
|St Cassian's Organ Fund|401|-|-|401|
|St Cassian's William Sebright Fund|485|(1,269)|2,345|1,561|
|St Chad's Repair Fund|24,223|(36,092)|-|(11,869)|
|St George's DCC - Big Local DY10|201,188|(201,188)|-|-|
|St George's DCC - General Purchase Fund|290|(350)|-|(60)|
|St George's DCC - Knit and Knatter Fund|-|(379)|-|(379)|
|St George's DCC - Macfarlane Fund|418|(558)|1,776|1,636|
|St George's DCC - Roof Access Fund|32,614|(35,520)|-|(2,906)|
|St Mary's DCC - Churchyard Fund|750|(750)|-|-|
|Parish Office - Emily Jane Brooks Fund|616|(600)|-|16|
|Parish Office - Mary Wilcox Fund|9|-|-|9|
||265,049|(280,746)|8,198|(7,499)|
|**TOTAL FUNDS**|569,682|(563,253)|9,126|15,555|



## **TRANSFERS BETWEEN FUNDS** 

The following transfers were made during the year: £26,500 was transferred from the designated St George's refurbishment fund to the restricted St George's Roof Access fund and £19,629 was transferred from the general fund to the restricted St George's Roof Access fund to cover the excess of expenditure over income. 

£71,634 was also transferred from the designated Parish Office Leswell Street Fund to the restricted St George's Roof Access fund, representing the loan made to St George's to finance the roof access project. £36,634 was repaid. £35,000 was repayable to the Parish Office by St George's as at 31 December 2022. 

In April 2022 St Cassian's DCC resolved to unlock the capital from the three small endowment funds under the provisions of Section 281 of the Charities Act. A transfer of £4,459 has therefore been made from the St Cassian's Endowment Fund, with £1,436 transferred to the restricted Chancel fund and £3,023 transferred to the restricted Tandy & Corbett fund. A transfer of £3,023 has also been included from the restricted Tandy & Corbett fund and £1,436 from the restricted Mitchell Churchyard fund to the Greatwich Churchyard fund. These funds all had the purpose of maintaining the churchyard therefore they have now been merged into one fund. 

During the year a transfer of £251 was made to the designated St Chad's Legacy Fund from the restricted St Chad's Repair Fund. An additional grant of £500 was received in the current year towards the St Chad's Repair Fund so this transfer returns funds which were transferred last year to cover a fund deficit. 

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**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **20. EMPLOYEE BENEFIT OBLIGATIONS** 

Kidderminster East Parochial Church Council participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers. 

CWPF has two sections: 

1. the Defined Benefits Scheme 

2. the Pension Builder Scheme, which has two subsections; 

- a. a deferred annuity section known as Pension Builder Classic, and, 

- b. a cash balance section known as Pension Builder 2014. 

## **Pension Builder Scheme** 

Both sections of the Pension Builder Scheme are classed as defined benefit schemes. 

**Pension Builder Classic** provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. 

**Pension Builder 2014** is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared  is payable, unreduced, from age 65. 

There is no sub-division of assets between employers in each section of the Pension Builder Scheme. 

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2022: £1,994, 2021: £2,285). 

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022. 

For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. There is no requirement for deficit payments at the current time. 

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. 

The legal structure of the scheme is such that if another employer fails, Kidderminster East Parochial Church Council could become responsible for paying a share of the failed employer's pension liabilities. 

## **21. RELATED PARTY DISCLOSURES** 

During the year donations of £1,000 were received from members towards the St George's roof access project. 

During the year £1,440 (2021: £1,440) was donated to The King of Hearts Creative Outreach, a registered charity number 1147489. Mr D Underhill, a former member of the District Church Council of St Chad’s, is a trustee of The King Of Hearts Creative Outreach. 

During the year a grant of £2,245 (2021: £3,473) was received from the Stone Parochial Charity, of which Mr R Legge, Mr M Gough, Mrs S Laffey and Mr C Emeny are trustees. This grant was in relation to St Mary’s churchyard repairs and maintenance. 

During the year grants of £45,517 (2021: £nil) were recevied from Friends of St Cassian's, of which A Hanson, C Hickman-Smith and H Richards are trustees. This grant was in relation to church repairs and maintenance. 

Page 22 

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**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **22. PURPOSE OF FUNDS** 

## **UNRESTRICTED FUNDS** 

## **General Fund** 

The unrestricted general fund can be used for any charitable purpose within the charity’s objects and approved by the Trustees. 

## **St Chad's DCC Café Fund** 

This fund is designated for the purpose of supporting the café at St Chad’s church. 

## **St Chad's DCC Legacy Fund** 

This fund is designated for the purpose as specified in legacies. 

## **Parish Office - Leswell Street Fund** 

This fund is designated for the purpose of providing a loan facility to the DCC’s for maintaining and improving the churches. 

## **St George's DCC - Roof Access Fund** 

This fund is designated for the purpose of covering the cost of any significant repairs and improvements to the church. The current project being undertaken is the creation of a new roof access. 

## **RESTRICTED FUNDS** 

## **St Cassian's DCC - Chancel Fund** 

This fund has been created from the conversion of capital endowment funds into income and is restricted for the purpose of church upkeep. 

## **St Cassian’s DCC - Church Bells Fund** 

This fund is restricted for the purpose of the upkeep of the church bells. 

## **St Cassian's DCC - E. Pratt Fund** 

This fund is restricted for the purposes of supporting the poor, the organists and the choir. 

## **St Cassian's DCC - General Repair Fund** 

This fund is comprised of grants received for specific general purchases. 

## **St Cassian's DCC - Greatwich Fund** 

This fund is restricted for the purposes of upkeep of the churchyard. 

## **St Cassian’s DCC - John Giles Bellringers Fund** 

This fund is restricted for the purpose of ringing the church bells on a specific day in December in the memory of John Giles. 

## **St Cassian's DCC - Mills Children's Activities Fund** 

This fund is restricted for the purpose of supporting children's activities in Chaddesley Parish. 

## **St Cassian’s DCC - Mitchell Charity Fund** 

This fund is restricted for the purpose of the upkeep of the churchyard. During the year the fund was merged with the Greatwich Churchyard fund since they have the same purposes. 

## **St Cassian's DCC - Organ Fund** 

This fund is restricted for the purpose of the repair of the church organ. 

## **St Cassian’s DCC - William Sebright Fund** 

This fund is restricted for the purpose of helping the needy and dis-advantaged of Chaddesley Parish to sustain themselves. 

## **St Cecilia's Jubilee Fund** 

This fund is restricted for the purpose of hosting a Jubilee event. 

## **St Cecilia's Miscellaneous Expenses Fund** 

This fund has been created where small miscellaneous donations have been received for restricted purposes. 

## **St Cecilia's Warm Space Fund** 

This fund is restricted for the purpose of providing warm spaces by running a Sunday breakfast morning. 

Page 23 

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**Kidderminster East PCC** 

## **Notes to the Financial Statements - continued for the Year Ended 31st December 2022** 

## **22. PURPOSE OF FUNDS - continued** 

## **St Chad's Community Support Fund** 

This fund has been created this year following the receipt of donations to spend on 'Community Support' by way of activities designed to support the families in need living in the estate around the church. 

## **St Chad's DCC - Repair Fund** 

This fund is restricted for the purpose of covering the cost of any significant repairs and improvements to the church, as specified by the donor. 

## **St George’s DCC - Big Local DY10** 

This fund is comprised of grants received from Big Local DY10, to be distributed to approved causes in the Horse Fair, Green Hill and Broadwaters areas. In 2018, Big Local DY10 appointed the Parish of Kidderminster East as its Local Trusted Organisation, responsible for receiving and distributing this funding. 

## **St George’s DCC - Choir and Organ Fund** 

This fund is restricted for the purpose of paying for choir and organ expenditure. 

## **St George's DCC - General Purchase Fund** 

This fund is comprised of grants received for specific general purchases. 

## **St George's DCC - Knit and Knatter Fund** 

This fund is restricted for the purpose of the Knit and Knatter group producing knitted articles for local families in the Big Local DY10 HBG area. 

## **St George’s DCC - MacFarlane Fund** 

This fund is restricted for the purpose of the provision of music and other choir related expenditure at St George’s Church. 

## **St George’s DCC - Roof Access Fund** 

This fund is restricted for the purpose of covering the costs associated with the roof access project. 

## **Heating Fund** 

During the year the PCC was awarded a grant from the Worcester Diocesan Board of Finance towards the increased energy bills. 

## **St Mary's DCC - Bell / Tower Repair Fund** 

This fund is restricted for the purpose of covering the cost of any repairs to the Bell or Tower. 

## **St Mary's DCC - Churchyard Fund** 

This fund is restricted for the purpose of the upkeep of the churchyard. 

## **St Mary's DCC - Corner Café Fund** 

This fund is restricted for the purpose of running the Corner Café. 

## **Parish Office - Emily Jane Brooks Trust Fund** 

This fund is restricted for the purpose of providing support to the sick and needy of the parish. 

## **Parish Office - Mary Wilcox Fund** 

This fund is restricted for the purpose of providing support to the elderly in outlying areas. 

## **ENDOWMENT FUNDS** 

## **St Cassian's Endowment Fund** 

This income is to be used for specified purposes relating to the upkeep of graves, the churchyard and the church. The capital was unlocked in the year under the provisions of Section 281 of the Charities Act. 

Page 24