REGISTERED CHARITY NUMBER: 1131228
Report of the Trustees and Financial Statements for the Year Ended 31st December 2023
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 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 to 8 |
| Balance Sheet | 9 to 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 |
| Notes to the Financial Statements | 13 to 27 |
| Detailed Statement of Financial Activities | 28 to 29 |
Kidderminster East PCC
Report of the Trustees for the Year Ended 31st December 2023
The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. 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, (although this post is vacant currently), 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.
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:
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61 funerals, 24 committals/burial of ashes and 1 burial of a body on a separate occasion, 1 exhumation and re-interment, 2 memorial services and 1 pre-funeral prayers have been undertaken within the parish, where sensitive pastoral care has been given to the families, as well as to others who attended the ceremonies.
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Similarly, support has been provided to wedding couples with their plans and wedding preparation. In 2023, 6 weddings took place, 2 marriage blessings and 1 renewal of marriage vows.
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Also 12 baptisms have taken place and 7 services of thanksgiving for the birth of a child.
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With funerals and weddings, almost invariably we receive warm thanks for the quality of service provided.
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The events on offer to children and families have been amplified with regular Family Fun Activity Afternoons, the Children's Club, school holiday events as well as the regular Sunday morning provision.
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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.
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Church members volunteer with charities such as the Kidderminster Foodbank, HELP, along with others that offer social care.
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Provision of warm spaces and refreshments in order to help combat the rises in the cost of living for many individuals
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Care and maintenance of the church buildings to ensure that they are welcoming and accessible to all who use them.
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The Parish Website remains an extremely useful tool for easily disseminating information across the Parish.
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- 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.
Page 1
Kidderminster East PCC
Report of the Trustees for the Year Ended 31st December 2023
FINANCIAL REVIEW
On 1 January 2024, St Cassian's DCC began to work with another grouping of churches as part of the deanery reorganization, but remain legally part of Kidderminster East. Therefore the results of this DCC have been presented separately as discontinuing operations.
Total unrestricted incoming resources for the year amounted to £356,218 (2022: £320,392), of which £52,154 (2022: £50,038) was attributable to St Cassian's DCC and £304,064 (2022: £270,352) was attributable to the remaining DCC's and Parish Office. This income increase is a result of a rise in voluntary donations, together with a legacy received by St George's DCC.
Total unrestricted outgoing resources amounted to £331,698 (2022: £330,739), of which £41,342 (2022: £46,743) was attributable to St Cassian's DCC and £292,026 (2022: £283,994) was attributable to the remaining DCC's and Parish Office. This includes the contribution to the diocesan parish share, which largely provides the stipends and housing for the clergy.
Total restricted incoming resources for the year amounted to £164,033 (2022: £202,130), of which £2,497 (2022: £46,862) was attributable to St Cassian's DCC and £161,536 (2022: £155,268) was attributable to the remaining DCC's and Parish Office. Last year St Cassian's DCC received a grant of £45K towards stonework repairs.
Total restricted outgoing resources amounted to £160,177 (2022: £259,720), of which £1,228 (2022: £49,853) was attributable to St Cassian's DCC and £158,949 (2022: £209,867) was attributable to the remaining DCC's and Parish Office.
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.
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 £145,064 (2022: £105,416) which was redistributed as stipulated by Big Local DY10.
Other restricted grants and donations were received in relation to the St George's Roof Access project and Trees Fund.
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 and designated reserves, were £165,794 at 31 December 2023 (2022: £150,951), representing approximately 6.5 months of unreserved expenditure, therefore the strategy has been achieved this year.
Restricted reserves were £121,613 at 31 December 2023 (2022: £127,169).
As at 31 December 2023 the unrestricted funds in relation to St Cassian's DCC were £33,950 (2022: £25,971) and restricted funds were £63,712 (2022: £58,334).
Total funds held by the PCC as at 31 December 2023 were £668,999 (2022: £636,746).
Page 2
Kidderminster East PCC
Report of the Trustees for the Year Ended 31st December 2023
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 Committee ("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 13 February 2023.
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.
Page 3
Kidderminster East PCC
Report of the Trustees for the Year Ended 31st December 2023
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 2023 are:
| Diocesan | Deanery | Church | ||
|---|---|---|---|---|
| Synod | Synod | wardens | Notes | |
| The Reverend David Hildred | X | X | Team Rector | |
| Team Vicar to | ||||
| The Reverend Robert Legge | X | 19/03/2023 | ||
| Hugh Richards | X | X | X | |
| Peter Gosling | X | X | ||
| Tim Morris | X | |||
| Robert Hudson | X | |||
| John Chesworth | X | Lay Chair | ||
| Stephen Duckhouse | X | |||
| David Grist | X | |||
| Christine Hickman-Smith | X | |||
| Clare Stockford | X | X | ||
| Aley Richards | X | |||
| Colin Emeny | X | X | ||
| Beth Richards | ||||
| Anna Hanson | ||||
| Shirley Cadman | ||||
| Anthea Harris-Fry | ||||
| Margaret Hodgson | X | |||
| Geoff Surridge | X | |||
| Jean Bailey | To 22/05/2023 | |||
| Shirley Surridge | ||||
| Andy Tainton | X | |||
| David Trethewey | X | |||
| John Heraty | ||||
| Elaine Voice | ||||
| Jennifer Tompkin | ||||
| Jan Ferguson | X | |||
| Les Bishton | X | |||
| Bernie Halama | ||||
| Rosemarie Moore | ||||
| John Griffiths | ||||
| Michael Gough | X | |||
| Susan Laffey | ||||
| David Underhill | ||||
| Ron Layton | From 22/05/2023 | |||
| Lyn Aston (not a Trustee) | Treasurer | |||
| Jane Chapman (not a Trustee) | Secretary |
Page 4
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Kidderminster East PCC
Statement of Financial Activities for the Year Ended 31st December 2023
| St | ||||
|---|---|---|---|---|
| Cassian's | ||||
| DCC | ||||
| General | ||||
| Fund - | ||||
| Unrestricted | discontinuing | Restricted | ||
| funds | operations | funds | ||
| Notes | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 2 | 218,197 | 34,984 | 157,331 |
| Charitable activities | 5 | |||
| Charitable Activities | 50,228 | 11,756 | 160 | |
| Other trading activities | 3 | 20,393 | 4,800 | 3,321 |
| Investment income | 4 | 3,139 | 614 | 724 |
| Other income | 6 | 12,107 | - | - |
| Total | 304,064 | 52,154 | 161,536 | |
| EXPENDITURE ON | ||||
| Raising funds | 7 | 4,889 | - | - |
| Charitable activities | 8 | |||
| Charitable Activities | 287,137 | 41,342 | 158,949 | |
| Total | 292,026 | 41,342 | 158,949 | |
| Net gains on investments | 123 | - | 1,317 | |
| NET INCOME | 12,161 | 10,812 | 3,904 | |
| Transfers between funds | 19 | 17,669 | (2,833) | (14,836) |
| Net movement in funds | 29,830 | 7,979 | (10,932) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 483,606 | 25,971 | 68,835 | |
| TOTAL FUNDS CARRIED FORWARD | 513,436 | 33,950 | 57,903 |
The notes form part of these financial statements
Page 7
Kidderminster East PCC
Statement of Financial Activities for the Year Ended 31st December 2023
| Restricted funds - discontinuing Endowment operations fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 1,193 - Charitable activities 5 Charitable Activities - - Other trading activities 3 - - Investment income 4 1,304 - Other income 6 - - Total 2,497 - EXPENDITURE ON Raising funds 7 - - Charitable activities 8 Charitable Activities 1,228 - Total 1,228 - Net gains/(losses) on investments 4,107 - NET INCOME/(EXPENDITURE) 5,376 - Transfers between funds 19 - - Net movement in funds 5,376 - RECONCILIATION OF FUNDS Total funds brought forward 58,334 - TOTAL FUNDS CARRIED FORWARD 63,710 - |
2023 Total funds £ 411,705 62,144 28,514 5,781 12,107 520,251 4,889 488,656 493,545 5,547 32,253 - 32,253 636,746 668,999 |
2022 Total funds £ 425,483 53,815 23,304 3,584 16,334 522,520 6,204 584,253 590,457 (9,074) (77,011) - (77,011) 713,757 636,746 |
|---|---|---|
DISCONTINUING OPERATIONS
Following a Deanery re-organisation, on 1 January 2024 St Cassian's DCC began to work with another grouping of churches as part of the deanery reorganization, but remain legally part of Kidderminster East. Therefore the results of this DCC have been presented separately as discontinuing operations.
The notes form part of these financial statements
Page 8
Kidderminster East PCC
Balance Sheet 31st December 2023
| Notes FIXED ASSETS Tangible assets 14 Investments 15 CURRENT ASSETS Stocks 16 Debtors 17 Cash at bank CREDITORS Amounts falling due within one year 18 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS |
Unrestricted funds £ 282,594 3,335 285,929 100 10,020 232,341 242,461 (14,954) 227,507 513,436 513,436 |
St Cassian's DCC General Fund - discontinuing operations £ - - - - 3,208 30,742 33,950 - 33,950 33,950 33,950 |
Restricted funds £ - 12,955 12,955 - - 107,237 107,237 (62,289) 44,948 57,903 57,903 |
|---|---|---|---|
The notes form part of these financial statements
Page 9
continued...
Kldd•rniln¥r E¥t PCC 8•lane• sheet.c0n1lnd 31st Decembèr 2023 2023 2022 funds- thsconlinuing Endowrnt fund Total tundB Notes Jnds FIXED ASSET8 Tang4e assets Investsnents 14 15 282.594 307.679 054 82 716 47.764 346.64 370.395 CURRENT ASSETS Stock3 Debtor¥ Cash at bank 16 17 100 13.228 40 22,694 311 692 15.946 399.594 334.426 AJnournS faiing thje vAth¥i one ye•r 18 (n.2431 (68.075} 15.946 266.351 TOTAL ASSETS LESS CLFIRENT UABILIIIES 63.710 636.746 NET ASSETS 668 999 FUNDS Unrestrhd funds Reslricted luTrds 19 547.386 121 813 509.S77 127 169 TOTAL FUNDS Th• finanaal stslements ¥ arvov•d ty the Board of Trt6 aNI au#1$ed for issue on •)d w2re on ts ihaif Rtrvwend D Hiiirnd. TNstr The notes fm W olthes• thiffici81 statem?nts Pago 10
Kidderminster East PCC
Cash Flow Statement for the Year Ended 31st December 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of fixed asset investments Sale of fixed asset investments Interest received Dividends received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 64,584 64,584 - 4,209 3,889 1,892 9,990 74,574 311,692 386,266 |
2022 £ (66,471) (66,471) (25,455) 26,781 892 2,692 4,910 (61,561) 373,253 311,692 |
|---|---|---|
The notes form part of these financial statements
Page 11
Kidderminster East PCC
Notes to the Cash Flow Statement for the Year Ended 31st December 2023
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
2.
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges (Gain)/losses on investments Interest received Dividends received (Increase)/decrease in stocks Decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operations ANALYSIS OF CHANGES IN NET FUNDS |
2023 £ 32,253 25,085 (5,547) (3,889) (1,892) (60) 9,466 9,168 64,584 |
2022 £ (77,011) 24,914 9,074 (892) (2,692) 60 2,054 (21,978) (66,471) |
|---|---|---|
| At 1.1.23 | Cash flow | At 31.12.23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 311,692 | 74,574 | 386,266 |
| 311,692 | 74,574 | 386,266 | |
| Total | 311,692 | 74,574 | 386,266 |
The notes form part of these financial statements
Page 12
Kidderminster East PCC
Notes to the Financial Statements for the Year Ended 31st December 2023
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 13
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
1. ACCOUNTING POLICIES - continued
EXPENDITURE (continued) 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.
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.
Page 14
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
1. ACCOUNTING POLICIES - continued
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 funds £ Donations 193,065 Gift aid 37,564 Legacies 20,200 Grants 2,352 253,181 |
Restricted Endowment funds funds £ £ 11,135 - 574 - - - 146,815 - 158,524 - |
2023 Total funds £ 204,200 38,138 20,200 149,167 411,705 |
2022 Total funds £ 187,627 33,007 2,500 202,349 |
|---|---|---|---|
| 425,483 |
Grants received, included in the above, are as follows:
| All Churches Trust Commonwealth War Graves The Friends of St Cassian's Chaddesley Corbett Garfield Weston Foundation Listed Places of Worship Local Trust (as Local Trusted Organisation) National Churches Trust Stone Parish Council Stone Parochial Charity Worcester Diocesan Board of Finance Worcestershire County Council Wyre Forest District Council |
2023 £ - 15 - - - 145,065 - 750 2,337 - - 1,000 149,167 |
2022 £ 4,000 15 45,517 7,500 24,997 105,416 5,000 750 2,245 5,959 200 750 |
|---|---|---|
| 202,349 |
3.
OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| Unrestricted Restricted Endowment funds funds funds £ £ £ Fundraising events 8,201 3,321 - Café and coffee shop 16,992 - - 25,193 3,321 - |
2023 Total funds £ 11,522 16,992 28,514 |
2022 Total funds £ 14,494 8,810 |
| 23,304 |
Page 15
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
4. INVESTMENT INCOME
| Unrestricted Restricted Endowment funds funds funds £ £ £ Dividends 223 1,669 - Deposit account interest 3,530 359 - 3,753 2,028 - 5. INCOME FROM CHARITABLE ACTIVITIES Activity Church and Church Hall letting Charitable Activities Parish Magazine Charitable Activities Fees Charitable Activities 6. OTHER INCOME Unrestricted Restricted Endowment funds funds funds £ £ £ Sundry 12,107 - - 7. RAISING FUNDS RAISING DONATIONS AND LEGACIES Unrestricted Restricted Endowment funds funds funds £ £ £ Fundraising events - - - OTHER TRADING ACTIVITIES Unrestricted Restricted Endowment funds funds funds £ £ £ Café and coffee shop expenses 4,889 - - Aggregate amounts 4,889 - - |
2023 Total funds £ 1,892 3,889 5,781 2023 £ 37,851 7,264 17,029 62,144 2023 Total funds £ 12,107 2023 Total funds £ - 2023 Total funds £ 4,889 4,889 |
2022 Total funds £ 2,692 892 3,584 2022 £ 28,701 8,736 16,378 53,815 2022 Total funds £ 16,334 2022 Total funds £ 3,294 2022 Total funds £ 2,910 6,204 |
|---|---|---|
Page 16
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
8. CHARITABLE ACTIVITIES COSTS
| 8. CHARITABLE ACTIVITIES COSTS |
|||
|---|---|---|---|
| Charitable Activities 9. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Rates and water Insurance Light and heat Telephone and internet Postage and stationery Mission & Charitable Giving Ministry - Diocesan Parish Share Travel Church Running Expenses Church Maintenance Churchyard upkeep Clerical Assistance Church Hall running costs Subscriptions Social Media Upkeep of services Youth work Magazine costs Education Sundry Verger, organist Professional fees Depreciation 10. SUPPORT COSTS Charitable Activities Support costs, included in the above, are as follows: Bank charges Independent examination |
Direct Support Costs (see costs (see note 9) note 10) £ £ 483,498 5,158 2023 £ 4,604 404 11,915 32,461 1,119 1,214 146,590 134,140 1,373 3,299 32,575 4,850 36,518 2,423 3,331 715 1,757 340 2,953 438 17,744 4,905 12,745 25,085 483,498 Governance Finance costs £ £ 621 4,537 2023 Charitable Activities £ 621 4,537 5,158 |
Totals £ 488,656 2022 £ 4,018 181 10,849 17,797 1,176 1,503 106,821 131,511 1,640 1,842 157,781 2,157 46,541 1,789 2,129 2,499 1,383 291 4,110 1,044 18,076 4,350 34,612 24,914 579,014 Totals £ 5,158 2022 Total activities £ 619 4,620 5,239 |
|
| 5,158 |
Page 17
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
11. TRUSTEES' REMUNERATION AND BENEFITS
During the year £240 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 (2022: £597). This is permitted by the PCC's governing document, the Parochial Church Councils (Powers) Measure 1956.
Also during the year £9,895 was payable to R Hudson, a member of St George's District Church Council, in his capacity administering the funds for Big Local DY10 (2022: £13,809).
TRUSTEES' EXPENSES
Two trustees were paid travel expenses totalling £1,303 and one was reimbursed £397 for telephone and other sundry costs (2022: two trustees reimbursed £2,184).
12. STAFF COSTS
| Wages and salaries Employer pensions Redundancy Total |
2023 £ 38,424 1,750 - 40,174 |
2022 £ 41,757 1,994 7,725 51,476 |
|---|---|---|
| The average monthly number of employees during the year was as follows: Average number of employees No employees received emoluments in excess of £60,000. |
2023 6 |
2022 6 |
|---|---|---|
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| St | |||
|---|---|---|---|
| Cassian's | |||
| DCC | |||
| General | |||
| Fund - | |||
| Unrestricted | discontinuing | Restricted | |
| funds | operations | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 186,189 | 39,755 | 154,022 |
| Charitable activities | |||
| Charitable Activities | 48,853 | 4,962 | - |
| Other trading activities | 17,897 | 5,262 | 145 |
| Investment income | 1,089 | 59 | 1,091 |
| Other income | 16,324 | - | 10 |
| Total | 270,352 | 50,038 | 155,268 |
| EXPENDITURE ON | |||
| Raising funds | 5,446 | 758 | - |
| Charitable activities | |||
| Charitable Activities | 278,548 | 45,985 | 209,867 |
| Total | 283,994 | 46,743 | 209,867 |
| Net gains/(losses) on investments | (873) | - | (1,671) |
Page 18
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| St | ||||
|---|---|---|---|---|
| Cassian's | ||||
| DCC | ||||
| General | ||||
| Fund - | ||||
| Unrestricted | discontinuing | Restricted | ||
| funds | operations | funds | ||
| £ | £ | £ | ||
| NET INCOME/(EXPENDITURE) | (14,515) | 3,295 | (56,270) | |
| Transfers between funds | (80,878) | - | 80,878 | |
| Net movement in funds | (95,393) | 3,295 | 24,608 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 579,000 | 22,675 | 44,227 | |
| TOTAL FUNDS CARRIED FORWARD | 483,607 | 25,970 | 68,835 | |
| Restricted | ||||
| funds - | ||||
| discontinuing | Endowment | Total | ||
| operations | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 45,517 | - | 425,483 | |
| Charitable activities | ||||
| Charitable Activities | - | - | 53,815 | |
| Other trading activities | - | - | 23,304 | |
| Investment income | 1,345 | - | 3,584 | |
| Other income | - | - | 16,334 | |
| Total | 46,862 | - | 522,520 | |
| EXPENDITURE ON | ||||
| Raising funds | - | - | 6,204 | |
| Charitable activities | ||||
| Charitable Activities | 49,853 | - | 584,253 | |
| Total | 49,853 | - | 590,457 | |
| Net gains/(losses) on investments | (6,530) | - | (9,074) | |
| NET INCOME/(EXPENDITURE) | (9,521) | - | (77,011) | |
| Transfers between funds | 4,459 | (4,459) | - | |
| Net movement in funds | (5,062) | (4,459) | (77,011) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 63,396 | 4,459 | 713,757 | |
| TOTAL FUNDS CARRIED FORWARD | 58,334 | - | 636,746 |
Page 19
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
14. TANGIBLE FIXED ASSETS
| 14. TANGIBLE FIXED ASSETS |
|||
|---|---|---|---|
| COST At 1st January 2023 and 31st December 2023 DEPRECIATION At 1st January 2023 Charge for year At 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 15. FIXED ASSET INVESTMENTS MARKET VALUE At 1st January 2023 Disposals Revaluations At 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 There were no investment assets outside the UK. 16. STOCKS Stocks 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Gift Aid recoverable Accrued income Prepayments |
Freehold property £ 195,450 56,649 3,909 60,558 134,892 138,801 |
Fixtures and fittings Totals £ £ 298,440 493,890 129,562 186,211 21,176 25,085 150,738 211,296 147,702 282,594 168,878 307,679 Listed investments £ 62,716 (4,209) 5,547 64,054 64,054 62,716 2023 2022 £ £ 100 40 2023 2022 £ £ 1,050 9,667 9,392 10,790 1,598 932 1,188 1,305 13,228 22,694 |
|
Page 20
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade creditors Social security and other taxes Pensions Funds held as agent Deferred income Accrued expenses |
2023 £ 2,534 55 228 1,500 64,350 8,576 77,243 |
2022 £ 1,410 55 283 1,700 53,964 10,663 |
| 68,075 |
Deferred income includes deposits of £2,061 (2022: £1,600) for events which have not yet taken place. Also included within deferred income is £62,289 (2022: £52,365) 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 £1,500 (2022: £1,700) relates to monies held by St Cecilia's DCC on behalf of Young at Heart group.
19. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Unrestricted funds General fund St Chad's Cafe Fund St Chad's Legacy Fund Parish Office - Leswell Street Fund St Cassian's DCC General Fund - discontinuing operations Restricted funds St Cassian's Chancel Fund St Cassian's E. Pratt Fund St Cassian's General Repair Fund St Cassian's Greatwich Fund St Cassian's John Giles Bellringer Fund St Cassian's Mills Children's Activities Fund St Cassian's William Sebright Fund St Cecilia's Community Fund St Cecilia's Jubilee Fund St Chad's Community Support Fund St George's DCC - Choir and Organ Fund St George's DCC - General Purchase Fund St George's DCC - Knit and Knatter Fund St George's DCC - Macfarlane Fund St George's DCC - Roof Access Fund St George's DCC - Trees Fund Heating Fund St Mary's DCC - Bell / Tower Repairs Fund St Mary's DCC - Corner Cafe Fund Parish Office - Emily Jane Brooks Fund Parish Office - Mary Wilcox Fund TOTAL FUNDS |
At 1.1.23 £ 435,984 3,959 2,513 41,150 25,971 509,577 693 7,777 - 27,929 868 2,335 18,732 572 38 5,665 438 199 201 12,722 35,000 - - 3,248 400 355 9,997 127,169 636,746 |
Net movement in funds £ 9,274 3,690 (2,513) 1,710 10,812 22,973 - 763 1,005 2,100 88 202 1,218 (490) - 1,156 (562) (5) (201) 321 3,918 (1,075) 835 - - (355) 362 9,280 32,253 |
Transfers between funds £ 1,459 - - 16,210 (2,833) 14,836 - - - - - - - 38 (38) - 124 - - - (19,918) 4,958 - - - - - (14,836) - |
At 31.12.23 £ 446,717 7,649 - 59,070 33,950 |
| 547,386 693 8,540 1,005 30,029 956 2,537 19,950 120 - 6,821 - 194 - 13,043 19,000 3,883 835 3,248 400 - 10,359 |
||||
| 121,613 | ||||
| 668,999 |
Page 21
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
19. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund St Chad's Cafe Fund St Chad's Legacy Fund Parish Office - Leswell Street Fund St Cassian's DCC General Fund - discontinuing operations Restricted funds St Cassian's Chaddesley Connect Fund St Cassian's E. Pratt Fund St Cassian's General Repair Fund St Cassian's Greatwich Fund St Cassian's John Giles Bellringer Fund St Cassian's Mills Children's Activities Fund St Cassian's William Sebright Fund St Cecilia's Community Fund St Chad's Community Support Fund St George's DCC - Big Local DY10 St George's DCC - Choir and Organ Fund St George's DCC - General Purchase Fund St George's DCC - Knit and Knatter Fund St George's DCC - Macfarlane Fund St George's DCC - Roof Access Fund St George's DCC - Trees Fund Heating Fund St Mary's DCC - Churchyard Fund Parish Office - Emily Jane Brooks Fund Parish Office - Mary Wilcox Fund TOTAL FUNDS |
Incoming resources £ 290,376 12,101 - 1,587 52,154 356,218 188 184 1,005 564 21 49 486 - 2,566 145,064 - - 250 524 7,810 1,875 2,335 750 - 362 164,033 520,251 |
Resources expended £ (281,102) (8,411) (2,513) - (41,342) (333,368) (188) - - (240) - - (800) (490) (1,410) (145,064) (562) (5) (451) (1,338) (3,892) (3,132) (1,500) (750) (355) - (160,177) (493,545) |
Gains and Movement losses in funds £ £ - 9,274 - 3,690 - (2,513) 123 1,710 - 10,812 123 22,973 - - 579 763 - 1,005 1,776 2,100 67 88 153 202 1,532 1,218 - (490) - 1,156 - - - (562) - (5) - (201) 1,135 321 - 3,918 182 (1,075) - 835 - - - (355) - 362 5,424 9,280 5,547 32,253 |
|---|---|---|---|
Page 22
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund St Chad's Cafe Fund St Chad's Legacy Fund St George's DCC - Roof Access Fund Parish Office - Leswell Street Fund St Cassian's DCC General Fund - discontinuing operations Restricted funds St Cassian's Chancel Fund St Cassian's Church Bells Fund St Cassian's E. Pratt Fund St Cassian's Greatwich Fund St Cassian's John Giles Bellringer Fund St Cassian's Mills Children's Activities Fund St Cassian's Mitchell Charity St Cassian's William Sebright Fund St Cecilia's Community Fund St Cecilia's Jubilee Fund St Chad's Repair Fund St Chad's Community Support Fund St George's DCC - Choir and Organ Fund St George's DCC - General Purchase Fund St George's DCC - Knit and Knatter Fund St George's DCC - Macfarlane Fund St George's DCC - Roof Access Fund St Mary's DCC - Bell / Tower Repairs Fund St Mary's DCC - Corner Cafe Fund Parish Office - Emily Jane Brooks Fund Parish Office - Mary Wilcox Fund Endowment funds St Cassian's Endowment Fund TOTAL FUNDS |
At 1.1.22 £ 470,720 3,194 2,262 26,500 76,324 22,675 601,675 - 1,460 8,781 23,436 999 2,504 3,784 22,432 - - - - 440 190 - 14,582 13,933 3,248 400 1,500 9,934 107,623 4,459 713,757 |
Net movement in funds £ (15,107) 765 - - (174) 3,296 (11,220) (743) (1,460) (1,004) 34 (131) (169) (2,348) (3,700) 572 38 251 5,665 (2) 9 201 (1,860) (60,062) - - (1,145) 63 (65,791) - (77,011) |
Transfers between funds £ (19,629) - 251 (26,500) (35,000) - (80,878) 1,436 - - 4,459 - - (1,436) - - - (251) - - - - - 81,129 - - - - 85,337 (4,459) - |
At 31.12.22 £ 435,984 3,959 2,513 - 41,150 25,971 |
|---|---|---|---|---|
| 509,577 693 - 7,777 27,929 868 2,335 - 18,732 572 38 - 5,665 438 199 201 12,722 35,000 3,248 400 355 9,997 |
||||
| 127,169 - |
||||
| 636,746 |
Page 23
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
19. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund St Chad's Cafe Fund Parish Office - Leswell Street Fund St Cassian's DCC General Fund - discontinuing operations Restricted funds St Cassian's Chancel Fund St Cassian's Church Bells Fund St Cassian's E. Pratt Fund St Cassian's General Repair Fund St Cassian's Greatwich Fund St Cassian's John Giles Bellringer Fund St Cassian's Mills Children's Activities Fund St Cassian's Mitchell Charity St Cassian's William Sebright Fund St Cecilia's Community Fund St Cecilia's Jubilee Fund St Cecilia's Miscellaneous Expenses Fund St Chad's Repair Fund St Chad's Community Support Fund St George's DCC - Big Local DY10 St George's DCC - Choir and Organ Fund St George's DCC - General Purchase Fund St George's DCC - Knit and Knatter Fund St George's DCC - Macfarlane Fund St George's DCC - Roof Access Fund Heating Fund St Mary's DCC - Churchyard Fund Parish Office - Emily Jane Brooks Fund Parish Office - Mary Wilcox Fund TOTAL FUNDS |
Incoming resources £ 263,849 6,248 255 50,038 320,390 - 28 188 45,517 518 22 49 44 496 662 250 254 500 5,665 105,416 - 10 300 373 33,911 6,459 750 655 63 202,130 522,520 |
Resources expended £ (278,512) (5,483) - (46,742) (330,737) (743) (1,386) (210) (45,517) (190) (40) - (167) (1,600) (90) (212) (254) (249) - (105,416) (2) (1) (99) (562) (93,973) (6,459) (750) (1,800) - (259,720) (590,457) |
Gains and Movement losses in funds £ £ (444) (15,107) - 765 (429) (174) - 3,296 (873) (11,220) - (743) (102) (1,460) (982) (1,004) - - (294) 34 (113) (131) (218) (169) (2,225) (2,348) (2,596) (3,700) - 572 - 38 - - - 251 - 5,665 - - - (2) - 9 - 201 (1,671) (1,860) - (60,062) - - - - - (1,145) - 63 (8,201) (65,791) (9,074) (77,011) |
|---|---|---|---|
TRANSFERS BETWEEN FUNDS
The following transfers were made during the year: £16,210 was transferred from the restricted St George's Roof Access fund to the unrestricted Leswell Street Fund, representing part repayment of a loan from plus interest.
£3,708 was also transferred from the restricted St George's Roof Access fund to the unrestricted general fund as part-reimbursement of the £19.6K transferred last year to cover the fund deficit.
£4,958 was transferred from the unrestricted general fund to the restricted St George's Trees Fund, following sale of an investment which had historically been treated as unrestricted in error.
Page 24
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
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:
-
the Defined Benefits Scheme
-
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 (2023: £1,750, 2022: £1,994).
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 2022. The next valuation is due as at 31 December 2025.
For the Pension Builder Classic section, the 2022 valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2024, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 5% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2023. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the 2022 valuation revealed a surplus of £8.5m 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 a grant of £2,337 (2022: £2,245) 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 £nil (2022: £45,517) were received 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.
During the year the parish office managed the operations and finances of The Emily Jane Brooks Trust (charity no. 235782), a charity which shares common trustees of Kidderminster East. No income is received for the provision of this service by the parish office.
It was identified that a historic restricted fund 'The Emily Jane Brooks Fund' was included in the PCC accounts in error, when the transactions related to an entirely separate charity 'The Emily Jane Brooks Trust' (charity no. 235782). The brought forward balance on this fund was £355 and, together with historic annual income and expenditure, is deemed trivial to the financial statements. This balance has been adjusted for in the current year accounts
Page 25
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
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.
St Cassian's DCC General Fund - discontinuing operations
This represents the unrestricted general fund of St Cassian's DCC, which left the Parochial Church Council of Kidderminster East on 1 January 2024.
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. Last year the fund was merged with the Greatwich Churchyard fund since they have the same purposes.
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 Community Fund
This fund is restricted for the purpose of spending on a Community Fund, to include providing a Warm Space by way of a weekly breakfast morning in the Church Hall.
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.
Page 26
continued...
Kidderminster East PCC
Notes to the Financial Statements - continued for the Year Ended 31st December 2023
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.
St George's DCC - Trees Fund
This fund is restricted for the purpose of unsafe trees and branches in the churchyard.
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 was 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 2022 under the provisions of Section 281 of the Charities Act.
Page 27