REGISTERED CHARITY NUMBER: 1131228 Report of tho Trustses and Fln•nclal Statem•nts for Yoar End 31st Docombor 2024 Kldd•rnilnster East PCC The Richards Sandy Partnèrshlp Thomeloe House 25 Barbourne Road Wor¢esler Worcestershire WR11RU
Kidderminster East PCC
Contents of the Financial Statements for the Year Ended 31st December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 to 7 |
| Balance Sheet | 8 to 9 |
| Notes to the Financial Statements | 10 to 23 |
Klddornilnster East PCC Roport of the Trustoes for tho Year Ended 31st Do¢ember 2024 The trustees present th8ir report wSth thg financial ststements of tho charity for th8 year ended 315t December 2024. The trustees have adopted the provisions of A¢¢ounting and Reporting by Charftles.. Stst8menl of Recommended Practice applicable to charities preparing their accounts In atrdance with the Finandal Reporting Standard appllcable In the UK and Republic of Ireland {FRS 1021 (effedve 1 January 2019). OBJECTNES AND ACTNITIES The prinoiple obj8cbve In the ar under review w8s that of promoting in the parfsh the whole mi86ion of the Churth. 'Our alm Is to be a ¢hur¢h where activ8 followers of Je5U5 Christ worship God and Ilve out His Love In Ihe worfd.. The trustees confimi that the PCC has cornpliod wllh the duty In section 17(S1 of the 2011 Charities Acl to have due regard to guidance on publlc benefrt vn r8vIe%ng the PCC'S alms and obi8Ctlves and in planning future activltles. Kiddeminster East PCC has the responsi1 of Cowoperating with the Team R8Ctor. the Reverand Davld Hildred and the Team Vlcar, (although thls post Is vacant currenuy), in promollng In the Parish the whole mlsslon of the thurch. pastoral, evangelistic, $o¢ial and ecumenlcal. Its primary oblectlve is the promollon of tho Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. St also has maIntsnan responsibllltles for the hurch bulldlngs of St Gaorge's. St Chad's. St Cecllia's. St Marfs and St Casslan's. PCCS and DCCS Much of the running of èach curch is d8legatsd to fve DCCS. vthlch each me8t slx dmes a year. The PCC meets four Ilmes a year with addlllonal meetings. as Tequired. It oversees the finances of the whole parish and sets overall budget and policie8. ACHIEVEMENT AND PERFORMANCE From 1st January 2024 St Casslan's began working In a new group of padshes, but remalns legalty part of the parish. However. the following comments refer only to the remaining four churches of lQddèmlnstsr East. Through the WO of lQdd8minster East Parish. eath year thousands of people who 8re not church members have contact wlth us. through the range of adivities and services wo provide. Sorn8 of th8m are more speCificlY'Splritua1' and to do with Sharing the Chdslan faith. Others are more slmply because respond to that faith by rIng for othèrs. The follovAng provide 8X8mples', 19 funera15, 30 MMitt8151bUrlal of ashes and 3 memorial seNlces have b$8n undertaken withln the parish. where sensitive pastoral care has been given to the famllles, as VMII as to others who attended the ceremonles. Similarly. support has bèen provlded to W6dding couples with thoir plans and wéddlng preparation. In 2024. 2 wedding$ took plaoè and 1 marriage blesslngs. Also 8 baptisms have taken place and 9 services of thanksglvlng for the birth of a child. With fijnerals and weddings, almost invariably we recetve wami thanks for the qualtty of Service provldod. The events on offer to Chlldren and families have been ampltfied with regular Famlty Fun Activity Aftemoons, the Chlldren's Club, school holld8y events as well as the regular Sunday momlng provision. Social èvents have Continuod to be offered,. these have mot the n6eds of l)oth churchos and unchurched people, often IndudSng the n&8d$ of lonely and elderfy peopl8. Church members volunleer with charitles such as Ihe Kiddeminster Foodbank. HELP, along th others that offer Social care. Provision of warm spa¢8s and refreshments In order lo help combat the rises In the cost of living for many Indlvlduals Care and malntenance of the church buildings to ensure Ihat they are wel(xJming and accessible to all use them. The Parish W8bslte remains an extremely usthl tool for oasily d1wm1nan9 information across the Parish. Ministry amongst schools in tho parf$h has contlnued with taking assemblies, offering 'Open the Bible. pre8ent8tions. and wglcoming a number of them Into our churches for Christrnas and Easter services. FINANCIAL REVIEW Total unrestrsded incoming r880urces for the year amounted to £334,816 (2023: £356,218). This Income includes income from St Casslan's DCC totslling £57.035. Total unrestrfcted outgoing resources amounted to £361.998 (2023: £331,698), Includlng St Ca5sian's expenditurè of £48.120. Totsl restricbj incomin9 rg$ources for the year amounted to £89,573 (2023: £164,033), includlng St Casslan restricted inccrfne of £1,326. Total restricted outgoing resources amounted to £75,717 (2023: £160.177) indudlng St Cas8ian's swnd of£2,724. Page 1
Klddom7lnstsr East PCC Report of the Trustees tor the Yèar End•d 31st Docembor 2024 The principlè fvnding sources are voluntary ¢ontributions from members of the five churches in the parish and the corresponding gift aid tax redaim. The charity also recelves fee income from funerals and weddings and 18tknng income from hiring out the crth halls and churches. In 2018 the Parfsh of Kldderrrinster East was appointed as tha Local Tntsted thganlsailon of Blg Local DY10. Included in restricted incorne is the DY10 grant income Df £62,289 (2023: £145.064) lch vms redistributed as stipulated by Big Local DY10. Resems Pollcy It is OUT policy lo invest our funds balances with the CBF Church of England Invethent Fund and CBF Churth of England Deposii Fund. The strategy agreed by the tsvstses is to maintain an unrestricled reserve fund equivalent to 8pproxlmately 6 months. expenditure. The PCC'S general unrestricted reservés. exduding fixed assets, resVeS belonging to St Cassian'5 and designated reserves, were £189.204 at 31 December 2024 12023: £165,794>, representing approximately 7 months of unreserved exp8nditure. therefore the strategy has been achieved thls year. Reslricte(I reseNes. exduding St Cas5ianS. were £39.920 at 31 December 2024 {2023: £121.613). Totsl fvnds held by the PCC as at 31 December 2024 re £657.296 (2023: £668.999). R.UCTURE, GOVERNANCE AN.D MAW.AGEMEvr Govomlng document The PCC of the Parlsh of Klddemlnster East is a corporats body establish by the Church of Enland. The PCC operates under the Parochial Churth Council Powets Moasure. The PCC of the Parlsh of Kldderrninster East is a Registered Charity. Ro¢rullmont and appolntmgnt of nèw trusts•s The method of app0Intrnt of PCC members is Set out in the Church R8près6nt8tion Rules. The membershlp of the PCC consists of the incumben( Diocesan and Deanery Synod members on the electoral roll of Ihe parish. churchwardens and mèmbers elecled by those members of Ihe congregatiw who are on the electoral roll of the thurch. All those who attend our serviceslmembers of the congregation are encouragèd to registsr on the Electoral Roll and stand for electlon to the PCC. D•¢i8ion making The PCC members are responsiblè for m8klng dadslons on all matters of genwal Concern and importanL¥ to the parish induding deLading on how the funds of the PCC are to be spenL New member5 recaNe initial training into Ihe workjngs of the PCC. Given lis wide responsibilities the PCC delegates declslons regarding the daY-daY management ofthe five churches In the benefice to the District Church Committee {'DC) of each church trt. where appropriate. the DC$ refer decisions to the PCC. The DCVS remain accountable to the PCC and rep back regulaty on activities and decisions in the respective thurche5. The PCC and DCC'S have a number of committees. each dealing with a particular aspect of parish lile. These comrnittees include worshlp, mission and outreach and fabric and finance. Committees pOrt bad( to the PCC l DCC. Volunt•orn We would Ske to thank all the volunteers work so hard to make our thurch the fively and ifjbrant communty it is. Rlsk Assessment The members of th8 PCC regularfy review the iisks to vthith the Councal might be expos8d and recommend a¢tion to milMJate these orto manage the risk appmpriaw. The PCC reviews its child prolectron and heallh and safety pobcies on an annual basis. Financial risks are regularty revtevrnd. Each DCC is required to (xrry risk assessments of both its church premises and thurch activities. Safeguarding The PCC of lfjddemilnster East cThitinues to compty with th8 duty under s. 5 of the S8fegu8rding and Cleryy Dlsclpline Measure 2076. 'duty to have due regaTd' to the H(se of Bishops. guidance on safeguarding chiklren and adults at risK' and the safeguarding C(#Je of Praclice issued unders. &4 of Ihe Safeguarding and Cl8rgy DIpline Ideasure 2016. as amended by Ihe S8fegu8nling (Code of Practice) Measure 2021, 'duty to compv bmth the requirements of the Code. In accordance with the House of Bishops, Key Roles and Responwbililies of Church Office Holde and Bodies Practice Guidance. the PCC utilises the Paiish Dashboard provided by the Dlo¢ese of Wor(*ster as a way of self-assessment to fulfil that duty. Page 2
Klddemiinst•r East PCC Report of the Trnsto for the Year Endod 31st Decemb•r 2024 The PCC of Kiddenninster East Is committed to the Care, nurture and pastoral ministry of all and saf•guardlng Ss of the hSghest priority. We adhere to Diocasan pollcy and gUFd81ln, keep our safeguarding records up lo date and respond promptly when required. The PCC has identified all activities involvlng Children, young people Ènd adults at risk and viewed Its pollcle$ at its meeting on 17 Fèbruary 2025. REFERENCE AND ADMINISTRATIVE DETAILS The Ecclesiastical Parish of lQdderminstsr East is a benefice consisting of th8 churches of St George's, St Chad's, St Cecilia's (all In the town of KIdd9nInSter), St Mary's, Stone and St Casslan's, Chaddesley Cort)8tt (both In the rural hlntsrfsnd to the aast of the town). st. George's Church, sRuated on th8 comer of Radford Avenue and Bimjingham Road, St. Chad's, Bur¢her Green. Comberton, St. Ceci1Sa's, Hoo Road, St ma$. Stone and St Ca8sian's, Chaddesley Corbgtt fom a Team Ministry, in the Diocese of W0ester within th& chUh of England. The correspondence addr9ss is The P8rtsh Office. St Cecilia's Church. 164, Hoo Rogd. lfjddermlnster DY10 1LP. The PCC regi5t8r8d as a ¢hertty on 19 August 2009. Tho name of the tharity was The Parochlal Church Councll of the Ecdesiastil Parfsh of St George. Kiddenninsteff. The name was thanged during the year 2012 to The Parochial Church Cwncil of the Parfsh of Kiddeminstsr East". The registered tharity number IS 1131228. PCC members vtho have served dut1ng 2024 are: Dlocesan Synod Dganory Synod Church wardons Notes Team Rector The Reverend Davi¢ Hildred Hugh Richards Peter Gosling Tim Morr1$ Robort Hudson John Chesworth Stephon Duckhouse David Grisl Christinè Hlckman-smilh Clarè Stocklord Aloy Rl¢hard6 Colln Emeny Beth Richards Anna Hanson Shirfey Cadman Anthea Harrfs-Fry Margaret Hodgson Geoff Su¢dge Shirfey Surridge Andy Talnton Davld Trelhewey John Heraty Elaine Vol¢e Jennffer Tompkin Jan Ferguson Les Blshlon Bemle Halama Rosemari6 Moore John Grlfflths Michael Gough Susan Laffey Ron Layton Val Bond Roger White to 31.07.2024 Lay Chair to 20.05,2024 to 20.05.2024 from 20.05.2024 from 11.11.2024 Lyn Aston (not 8 Trustee) Jane Chapman (not a TTUSt8e) Treasurer Secretary Page 3
Klddomilngtsr East PCC Report of the Tru¥lo88 for tho Y•ar Endod 31st De¢ember 2024 The Parish is further organised wjth Indlvldu81 ¢hurch District Church Commlttees (DCCS) and all PCC members are also members of their own thurth DCC. Numbers on el¢¢to I 2024 75 41 109 118 41 St Cassian's St Cecilia's st Chad's St Get)rge's St Marfs 104 118 Total 382 Approved by order of the board of trustees on 28 April 2025 and signed on its behalf by: J.KAr Reverend D Hlldred - Trustee Page 4
Indepond•nl Examlnerfs R•port to th• Trustèes of Kldderminster East PCC Indendent •xaminorf$ report to th• trustses ol Klddornilnst•r East PCC I report to the charity trustees on my examination of the accounts of lfjdderminster East PCC (the TNst) lor the ar endad 31st December 2024. Responslbllllios and basls of report As lh8 charity trustee$ of the Trusl you are responsible for the preparation of the accounts In accordance with the requiremgnts of the Chaiities Act 2011 Clhe ACV). I report in resfft of rny examination of the Trusfs accounts ¢arried out under Seclion 145 of the Act and in ¢arrying out my examination I have followed all applicable Directions given by the Charity Commission under Seclion 145{5)(b} of the Independent oxamlnofs statement Since your chaiiWs gross income eXcded £250,OIX) ywr examiner fflust be a member of a listed body. I can confimi that l am qualified to undertake the examination because l am 8 member of the Associalion of Charterod Certified Accountants. which is one of Ihe listed bodies. I have comFleted my examination. I conffinm that no materfal mattern have come lo my attenlion in connectlon with tho examinatim glvlrvJ me cause to belleve that in any matsrial respecL' accounting records were not kept In respect of the Trust as rgquir8d by Secilon 130 ofthe Act., or tho ac¢ounts do not acrd with those records. or the accounts do not o)mply ¥th the appllcable requirements ¢onceming the fomi and content of accounts sel out in the Charltles (Acwjnts and Reports) Regulations 2008 other than any requirement that the aOUnts givo a true and fair view whlch Is not a matter consldered as part of an Independent 8xamlnation. I have no concems and have come across no other matters In connection with the examlnation to vthich attentlon shoukl be drawn in this report in orderto enable a proper und•rstarKling of the accounts to be reach8d. Meli$sa Godwin ACAACCA The Richards Sandy Partnership Thomeloe Hous8 25 Barboume Road Worcestsr Worc8stershlre WR11RU Date.. Page S
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Klddonnln8tor East PCC Statement of Flnanclal Activities for the Yèar Ended 31$t Dècèrnber 2024 DISCONTINUING OPERATIONS FolknMng a Deanery re-org8nlsation. on 1 January 2024 St Casslan¥ DCC began to work wlth another grouping of thurches as part of the deanery r8organi$ation, but remain legally part of Kiddemiinster East, It is anticipated that th8 reorganisation will complete during 2025. The notss fom part of these ffinancial stalements Page 7
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lfjddomilnsler East PCC Notss to the Financial statomonts for th• Yoar Ended 31st December 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The fjnanclal ststements of the charity, which is a public benefil entlty under FRS 102, have been prepared in ac(¥)rdanrA with the Charities SORP (FRS 102> 'Accounling and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing Iheir accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effeclive 1 January 2019),. Financial Reporting Standard 102 Thg Financial Reporting Standard appllcable in the UK and Republic of Ireland. and the Charities Act 2011. The finartial statements have been prepared under the historical c051 convention. with the exception of investments which are Included at market value. as modified by the revaluati of certain assets. The financial statements are presented in sterfing which ts the functional currency of the Charity and rounded to the nearest £. The financial statements include all transaclions. assets and liabilities for vthich th8 PCC is responsible in law. They do not indude the a¢cwnts of church groups that owe their main affifiaticm to another body. nor those that are infomwl gatherings of church members. The significant accounting PDlicies aprAied in the preparation of these financial statsments are set out below. These pdicies h8ve been consistently applied to all years presented unle55 othernryse stated. COME All income is recognised in the Statement of Financial Activities CSOFA.) once the Charity has entitlemgnt to th8 funds. it is probable that the income VAII be recelved and the amount can be measured reliably. Fundralslng Funds raised from events and trading activiti8s (e.g. a féte, a garden party or sales of books and magazine5) aro reported gross in the SOFA. i.e. before any related costs that may have been deducted from the gross proceeds. Grants and dona¢lon$ (InrPOratIng governmont grants) Grants and donations arè induded in the SOFA bthen the charity is entitled to the funds. l.e. when any pre¢ondilions preventlng thelr use by the PCC have baen met. Fcf collectlons and planned giving this is when the funds are received. Legaclos Legaraes are induded when the amount re1vable has been reasonabty ascertained and notified by tho WAe¢utorn. GIftAld Gifl Aid and other tax dalm8 are Induded in thè SOFA at the same Ilmo as the cash donation8 to vthich th8y relate. Volunt•or H•lp No ¥rnount 1$ included in the financial statements for volunteer tlme In line with the SORP (FRS 102). Furthor detail is given in the Trustses, Annual ReporL Rental In¢ome Rental income from tho letting of church premlses is recognised vdhen the rental is due. Inveslment Income This is included in the accounts when receivable. Investment galns and losses This includes any gain or loss on the sale of investrnents and any gain or loss resultlng from revaluing imieslments to market value at the end of the year. EXPENDMJRE Liabilities are recognised as expendire as 500n as there is a legal or constructive obllgatlon cornmitling the charity to that expendiiure. it is probable Ihat a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is au>)untsd for on an accruals basis and has been cla551fied under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular heading5 Ihey have Lwn allocat8d to activitles on a bas15 0)nsistent wlth the use of resourc8s. Support costs are in¢luded wlthln ¢harStable expenditurg. Page 10 conllnued...
Klddemilnster East PCC Noto8 to tho Flnanclal Statements . continuod for the Year Ended 31$t Docambor 2024 ACCOUNTING POLICIES - ¢ontinuod EXPENDrruRE Governanco costs Include costs of the preparation and examinallon of statutory 8ceA)unts, the costs of trustee me8tings and $1 of any legal advice to trustees on govemance or constitutional matters. Grants payablg wlthout p•rfornianc8 conditions These are recognised In the accounts when a ¢ommitmont has been made extemally and there are no preconditions sllll to be mgt for èntitlement to the grant whl¢h remain wlthln the control of the PCC. Llabllfty rocognltlon Liabilities arè recognlsed as soon a$ th8 legal or constnjctlve obligation arises. TANGIBLE FIXED ASSETS DeprecSatSon 1$ provided al Ihe following annual rates in orderto lte off each asset over its eslimat8d useful life. 2% on cost 33% on cost, 25% on C1, 20% on St, 15% on reducing balance. 10% on cost and 5% on cost Freehold propety Fixtures and flttings Expendlture is capitalised If the Item can bè used for more than one year, at cost of at least £1,000. The assets are valued al cost18ss depre¢ialion. Cons•crated and ben8fico property Consecrated and benefice pmperty of any klnd is exduded from the financial statements by Sectlon 1012) (a) and (c) of the Charitles Act 2011. Movoablè Church fuml8hlngs These ar6 capltalSsed at cost and depreciated ovor thelr useful economlc life other than where insufficient cost infomatlon is avai18blè. In thls case the itom Is not capitallsed. but all items are Induded in the Chur¢h's Inventory in any cÈs8. FIXED ASSEf INVESTMENTS Investments hgld in the Central Board of Flnance ('CBF'} Church of England Inve$thent Fund. an Investsnent fund whoso units are quoted on a recognised stock exchange, are moasured at market valuo. CASH AND CASH EQUIVALENTS (INCLUDING SHORT-TERM DEposrrs) Cash at bank Includes both Cash held in wrr8nt bank a¢counts and cash equivalents includlng cash held in dèposit bank accounts subject to a notice foT Withdrawals of less than 3 months and cash hekl in th8 Central Board of Financ {'CBF') Church of England Deposlt Fund. STOCKS Stocks are valugd at tho lower of cost and not realisable value. after making due allowance for obsol8t8 arKI slow moving items. TAXATION The th81ity Is oxempt from t8x on Its chartiable activities. FUND ACCOUNTING Unrostri¢ted fund• These reprgS9nt the romalnlng Incomè funds of the PCC that are available for Spendlng on the general purposes of the PCC. includlng amounts doslgnated by th6 PCC for fixed assots for Sts own use or for spenJing on a future project and which are therefore not Induded in its Yree reserves, as disclosed In the tnjstees, report. R•strfct•d fund¥ Thes? are Income fund5 that must be spent in aCrdanCe with speclfic restrictions Imposed by donors (Indudlng funds raised by the PCC for a specrfic purpose) and details of the funds held and restrictions provided ar8 shown In tho notes to the accounts. FINANCIAL INSTRUMENTS Finanrial liabilitios and equity Instnjments are d85sifled aordIng to the substsneè of tho contractual arrangements entered into. An equlty instrument is any wntract that oviden¢eg a residual Interest in the ats of th8 antlty after dééuctlng all of its financial liabllllles. Page 11 continued...
Kldd8milnst•r East PCC Notes to the Flnan¢lal SLitèments - ¢ontlnuod for the Year Endod 31st D•¢ombor 2024 AccouKfiNG POUCIES- conlinued Where the contractual obligations of financial instruments are equivalent to a swnilar debt instrumert those finan(#al instruments are dassed as finanaal Irabilities. Financial liabililies are presented a8 such in the ba18nce sheet. Flnance costs and gains or losses relating to finand81 Ilabilltles are Included in thè wofit and loss account. Flnance costs are c4lculated so as to produce a constant rate of retum on the outstanding Ilablllty. Where the contractual temis of share capital do not have any terms meetlng the definition of a financial liabilty then this is dassed as an equity instrument. Dividends and distritxrtions Telating to equity instruments a debited direct to equity. DONATIONS AND LEGACIES 2024 2023 Donatlons Gfft aid Legacies Grants 210.213 33,192 204.200 38.138 20.200 149.167 310.239 411.705 Grants receiv&J. Included in Ihe above. are as folb)ws: 2024 2023 Commonwealth War Graves The Friends of St Ca$$ian* Chaddesley Corbett Local Trust (as Local Trusted Organisation) Stone ParÉsh Council Stone Parochial Charity Wyre Forost Dlstrld Council 15 3,780 62.289 750 15 145,065 750 2,337 149 167 OTHER TRADING ACTIVITIES 2024 2023 Fundralslng everrts Café and coffeo shop 14.702 11.522 16.992 28.514 INVESTMEKf INCOME 2024 2023 Dividends Deposlt a¢¢ount Interest 1,784 7,200 1,892 3,889 5.781 P8ge 12 continued...
Klddernilnstor East PCC Not•s to the Flnancial Statements - continued for th8 Y•ar Endod 31st DKemb•r 2024 INCOME FROM CHARITABLE AcnvmES 2024 2023 ACtity Church and Church H811 lettln9 Parish MagazSn8 Fees Charitsble Actlvmes Charitable Activities Charitsble Activities 36.373 9,965 37.851 7,264 17.029 65,820 82,144 OTHER INCOME 2024 2023 Sundry CHARITABLE ACTIVITIES COST8 Dlrect Costs {s88 nole 8) Support costs Totsls chats18 Activities 433,932 DIRECT COST8 OF CHARITABLE ACTivrriES 2024 2023 Staff costs Rat88 and water Insurnn¢g Llght and heat Tel8phone and Intemet Postage and ststlonery Misslon & Charitsble Giving Ministy- Dlocesan Parish Share Travol Church Running Expenses Church Malntenanc Churchyard upkeep Clerical Assistsnco Church Hall runnlng costs subs¢rfpon$ So¢lal Media Upkeep of sep4ic¥s Youth work Magazine costs Education Sundry Verger, organist Professianal fe•s Depreciation 4A69 229 12.475 22.860 1h12 1.369 70.818 140,865 835 3.018 55,403 9.233 27A67 2A68 5A59 734 1,713 404 11,915 32,461 1,119 1.214 146,590 134.140 1.373 32.575 36,518 2,423 3,331 715 1.757 340 2.953 438 17.744 4.905 2.230 11.861 6.358 11 8.613 12.745 483,498 Page 13 ¢ondnued...
Klddomilnstor East PCC Notes to tho Finan¢lal Statements - ¢ontlnu¢d for the Y¢ar Ended 31st December 2024 TRUSTEES. REMUNERATION AND BENEFIT8 Durlng the year £440 was paid to T Morris, a m8mb8r of St George's Dlstrict Church Council, in his capacty as organist at St Georye's Churth {2023'. £240). This Is pemiStted by the PCC'S goveming document, thè Pah181 Church Councils (Powws) Measure 1956. Also during the year £8,613 was payable to R Hudson. a member of St George's Distrirt Church Council. in his capacity 8dminist8Ting the fijnds for Big Local DY10 (2023: £9,895). TRUSTEES. EXPENSES One trustse was pald travel expenses totalling £835 and was relmbursed £642 for telephone and other sundry costs (2023: two truste relmbursed £1,700>. 10. STAFF COSTS 2024 2023 Wag95 and salaries Employer pensions 34825 1.269 38.424 1.750 Total 36.094 40.174 The average monthly number of employees during the year was as follows.. 2024 2023 Avgrage number of employoes No employees received emoluments in oxcess of £60.000. 11. COMPARATIVES FOR THE STATEMEtrrf OF FINANCIAL ACTivrriES St Cassian's DCC General Fund - Unrestricted discontinuing Restri¢ied nds operations funds Restricted nds- di$¢ontinuing operations Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 218,197 34.984 157.331 1.193 411.705 Charltabl• a1vItI•$ Charitable Activities 50,228 11.756 leo 62,144 Other trading activities Investment InM8 Other income 20,393 3.139 4.800 614 3,321 724 28.514 5.781 1.304 Total 304.064 161536 2.497 520.251 EXPENDITURE ON Raising funds 4.889 4,889 Charltable activltios Charitable Actlvities 287.137 41.342 158.919 Total 292.026 41,342 158.949 1,228 493.545 Net gains on investments 123 1,317 4.107 5.547 Page 14 contlnued...
Kldderniinstsr East PCC Notes to tho Flnanclal Statements . continuod for the Year Ended 31st Decemr 2024 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES - eontinu•d st Cassian's DCC General Fund- discontinuing operations Restricted funds - discontinuing operations Unrestricted fijnds Restricted funds Totsl funds NET INCOME Transfers between funds 12.161 17.669 10,812 2.833 3.904 14,8361 5.376 32.253 Ngt mov•m•nt In funds 29.830 7.979 (10,9321 5,376 32,253 RECONCILIATION OF FUND8 Total funds brought foThyard 483.606 25.971 68,835 58.334 636,746 TOTAL FUNDS CARRIED FORWARD 513,436 33.950 668,999 12. TANGIBLE FIXED ASSETS Flxiures and ffttings Freehold propèrty Totals COST Al 1st January 2024 and 31st Oecember 2024 195 DEPRECIATION At 1st January 2024 Charge for year 00,558 150.738 32 211.296 At 31 st December 2024 183 224 NEf BOOK VALUE At 31 st Dac8mber 2024 130.983 115 216 246.199 At 318t December 2023 134.892 147.702 13. FIXED ASSET INVESTMENTS Llsted invèstments MARI VALUE At 1st January 2024 Revaluations 64,054 At 31st December 2024 NET BOOK VALUE At 31st Dember 2024 At 31st December 2023 64.054 There We no investment assets outside th8 UK. Page 15 ¢ontinued...
Klddumln8t•r East PCC Not•8 to th• Flnan¢ial Statements - contlnued for tho Year End 31st De¢¢mber 2024 13. FIXED ASSET INVESTMENTS - contlnued Cost or valuation at 31st December 2024 Is represented by: Llsted Invfr8tm0nts Valuation in 2024 Cost 1,623 64,054 1& STOCKS 2024 2023 Stocks 100 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 other debtors Gift Ai¢J recoverable Accrued in¢omg Prepayments 1.050 9,392 1,598 1,188 11,527 929 13,228 16. CREDtroRS: MIOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade ¢redltor& Social sÉcurity and other taxes Penslons Funds held as agent Deferred incom8 Accrued expenses 1.774 55 343 1,200 1,939 7,761 2,534 55 228 1.500 64,350 Deferred income Includes deposlts of £1.939 (2023: £2.061) for everrts Mthich have not yet tsken pla. Last year also included within deferred income was £62.289 of r&stricted grant income from Blg Local DY10. The funds were held by St George's DCC as thè Local Trusted Organlsallon and were released in full in thg year. The Yunds held as agent, of £1.200 (2023: £1.500) relates to monies held by St Cecllla's DCC on behalf of Young at Hoart group. Page 16 continued...
Klddornilnstèr East PCC Notes to the Flnanclal Stal•ments - continued for tho Yoar Ended 31gt Docernber 2024 17. MOVEMENT IN FUNDS N8t movement In funds Transfgrs between funds At 31.12.24 Al 1.1.24 Unre$lrlcted fund$ G8n8ral fund Sl Chad's Cafe Fund Parish Office - Leswell Street Fund st Cassian's DCC General Fund - discontinuing operations 446.717 7.649 59,070 {40.227) 669 3,720 32.507 438,997 8.318 63.790 1.000 33,950 8,915 42.865 547,386 (26,9231 33,507 553,970 R•strlct•d funds Sl Cassian's Chancel Fund St Cassian's E. Pratt Fund St Ca55ian's General Repair Fund St Cassian's Grea1¢ Fund St Cassian's John Gil0$ Bellringer Fund St Cassian's Mllls Childr9n's Activllles Fund st Cassian's William Sebrfght Fund St Cecilia's Car Part( Fund St Cecilia's Community Fund St Cecilia's Family Activity Aftemt)on Fvnd Sl Chad's Communty Support Fund St George's DCC- Church Maintenance Fund St George's DCC- Gengral Purchase Fund St George's DCC- Ma¢farfane Fund St George's DCC- Roof Access Fund St Ggorge's DCC. Trees Fund Heating Fund St Mar5 DCC- Bell l Tower Repairs FuThJ St Marfs DCC - Corner Cafe Fund Parish offi - Mary Wilcox Fund (1.043) 7.497 1,005 30,775 1.005 30,029 956 2,537 19,950 746 40 91 (138) 1,039 (120) 500 1,683 2.628 19.812 1.039 120 500 8,504 6,821 1,875 193 242 14.454 (3.150) (835) 1.875 334 13.285 194 13.043 19.000 3,883 835 3.248 400 {33.454) 733 3.248 400 35 121613 33,50 103,326 TOTAL FUNDS 668 999 Page 17 continued...
Kiddom)in$tsr East PCC Notes to the Flnancl81 Statements - contlnued for t Year Endgd 31st D•c•mbor 2024 17. MOVEMENT IN FUNOS - contlnued Net movement In funds. Included in the atjove are as fc4lows'. Incomlng resources Gains and Movemènt In funds expended Unrestrlcted funds General fund St Chad's Cafe Fund Parish offi - Leswell Street Fund St Cassian's DCC General Fund - discontinuing operations 261756 11.564 3.461 (302,983) (10.895) (40,227) 669 3.720 259 57,035 48,120 334,816 (361,998) 126.923) Restrlcted funds St Cassian's E. Pratt Fund st Cassian's Greal¢h Fund St Cassian's John Giles Bellringer Fund St Cassian's Mills ChildrenS Actlvllles Fund St Cassian's William Sebright Fund St Cocilia's Car Pa Fund St Cecilia's Community Fund St Cedlla's Famlty Advlty Aftemoon Fund St Chad's Repair Fund St Chad's Communlty Support Fund st George's DCC- Big L1 DY10 St George's DCC- Churth Maintenance Fund st George's DCC- General Purchase Fund St George's DCC- Knit and Knatter Fund St George's DCC- Ma¢fartane Fund St George's DCC- R¢)of Access Fund st George's DCC- Trges Fund Healing Fund St MarS DCC- Churchyard Fund Parish Office - Mary WilX Fund 187 573 22 50 {1,384} {300} 154 473 18 41 408 {1.043) 746 40 91 (138) 1.039 (120) 500 (1,040) 1.039 {120) 500 100 2A83 61289 {100} {800} (62,289) 1.683 3.019 899 324 380 1V71 (1.144) 1706} {324} {408} 1.875 193 270 242 14454 13.150) (835) {3,150} {2,335) 1750} 850 1.500 750 493 15.220 TOTAL FUNDS 437,715 1.623 11,703 Page 18 ¢OnnUed...
Kiddarnilnster East PCC Notes to th• Flnanclal Statemènts - ¢ontlnuod for tho Yoar Ended 31st Decombor 2024 17. MOVEMENT IN FUNDS . continuod ¢omparatlv•s for movement In funds Nel movemént In funds Transfars been funds At1.1.23 31,12.23 Unrostrlcted fvnd8 Gengral fund St Chad's Cafe Fund St Chad's Legacy Fund Parish Office - L&swell Street Fund St Cassian's DCC General Fund - discontinulng operations 435,984 3,959 2,513 41.150 9,274 3.690 (2,513) 1,710 1,459 446,717 7.649 16,210 59,070 2,833 33,950 509.577 22,973 14,836 547.386 Re8trl¢t¢d funds St Cassian's Chancel Fund St Cas5ian's E. Pratt Fund St Casslan's General Repair Fund St Cassian's Greah•ich Fund St C8ssSan's John Giles Bellringer Fund St Cassian's Mills Children's Adv9$ Fund St Cassian's William Sebright Fund St Cecilia's Community Fund St Cecilia's Jubilge Fund st Chad's Communty 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 Gèorg8's DCC - Macfartané Fund St Grge,$ DCC - Roof Access Fund st George's DCC - Trees Fund Heatin9 Fund St Marfs DCC - Bell l Tower Repalrs Fund St Marfs DCC - Comer Cafe Fund Parish Office - Emlly J8ne Brooks Fund Parish Offlce- Mary Wilcox Fund 693 7,777 693 8,540 1,005 30.029 956 2,537 19,950 120 783 1,005 2.100 88 202 1,218 (490) 27.929 868 2,335 18.732 572 38 5,665 438 199 201 12,722 35.000 38 (38) 1.156 (562) 15) (201) 321 3.918 {1,075) 835 6.821 124 194 13,043 19,000 3,883 835 3,248 400 (19,918) 4,958 3.248 400 355 9,997 (355) 362 10,359 127.169 9.280 121.613 TOTAL FUNDS 636,746 668,999 Page 19 continued...
Klddemilnstèr East PCC Note8 to the Flnanclal Statemonts - conlinuod for tho Year Endod 31st Decembw 2024 17. MOVEMEKf IN FUNDS - ¢ontlnued Comparative net fflovement in fvnds. 5n¢luded In the above are 8s follows: Incomlng resources Resources expended Galns and losses Movarnent In lunds UnrestrI0d funds General fund St Chad's Cafe Fund st Chad'$ Legacy Fund Parish Office- Leswell Street Fund St Cas$ian'$ DCC General Fund - dls¢ontinulng operations 290,37fj 12.101 {281,1021 18.4111 {2.5131 9.274 3,690 12.513) 1,710 1.587 123 356,218 1333,368) 123 22.973 Re$trlcted funds St Cassian's Chaddesley Connect Fund St Cassian's E. Pratt Fund St Cassian's General Repalr Fund st Cassian's Grealch Fund St Cassian's John GSles Belldnger Fund St Cassian's Mills Chlldren's AVIeS Fund St Casslan's Wllllam Sebright Fund St Cecilia's Community Fund St Chad's Communty Support Fund St George'$ DCC - Blg Local DY10 St George's DCC - Cholr and Organ Fund St G80rge's DCC - General Purchase Fund St G8orge's DCC - Knit and Kn8tter Fund St Gèorge's DCC - Macfarfane Fund St George's DCC - Roof Actess Fund st George'$ DCC- Trees Fund Heating Fund St Marfs DCC - Churchyard Fund Parfsh offi - Erni Jan8 Brooks Fund Parish Office - Mary Wllcox Fund (188) 579 763 1.005 2.100 88 202 1.218 {49J) 1,158 1.005 (240) 1.776 67 153 1,532 21 49 (800) (490) (1,410) {145,C64) {562) (5) (451) (1.338) 13,892) (3,132) (1,500) (750) (355) 2.566 145.064 (562) (5) (201) 321 3,918 (1.075) 835 250 524 7.810 1.875 2.335 750 1.135 182 (355) 362 362 164,033 160.177 TOTAL FUNDS 520.251 493 5451 5.547 32,253 TRANSFERS BETWEEN FUNDS The foll¢)wing transfers were made durin9 the year.. £19.CQO was transferred from the reslrfcted St Georgè's Roof Access fund lo the unrestrtcted Leswell Street Fund, representing repayment of a loan. £14,454 was also transferred from th8 restrictèd St George's Rcof Access fvnd to the unrestrithd general fund as part-reimbursement of the £19.6K transferred in 2022 to cover the fund deficAt. £18.000 was transferred from the unrestricted Leswell Street Fund to the unrestklcted general fund, rèpresenting a loan to St Cecilia's DCC. Page 20 continued...
Klddornilnstar East PCC Notss to the Flnanclal Statements . ¢ontlnued for thè Yoar End¢d 31st Da¢•mber 2024 18. EMPLOYEE BENEFIT OBLIGATIONS Kiddemiinster East Parochial Church Coundl particapates In the Pension Builder Scheme section of CWPF for lay staff. CWPF Is administered by the Church of England Pensions Board, whlch holds the CWPF assets 8ep8r8tely from those of the Employer and other parttcipatlng employers. CWPF has tsvo section$'. 1. the Defined Benefrts Scheme 2. the Pension Builder Schem8. whi¢h has subsedions: a. a deferred annuity section known as Pension Builder Classlc. and, b. a cash balance section known a5 Pension Builder 2014. Ponsion Builder Scheme Both sections of the Pension Builder Scheme are classed as defined benefft schemes. Penslon Bullder Classic provide3 8 pension. accumulated from contribution5 paid and converted Into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board fr(x time to time. Discretionary incroases may also be added. depending on investrnent relums and otherfaciors. Pon$lon Bullder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are Tecorded in an account for ga¢h member. Discretionary bonus8 may be added before retirement, depending on investrnent retums and other factors. The account. plus any bonuses declared is payable. unreduced. from age 65. There 1$ no sub4ivlslon of a88ets between employeTr in each sedon of thè Pension Builder Scheme. The sch8me is considered to be a multi4mployer scheme as described in Sectlon 28 of FRS 102. Thls Is becau89 It 18 not posslble to attribule th• Penslon Builder Scheme'5 ass8ts and Ilablllties to specific employers and m8ans that contributions are a¢Unted for as If the Stheme were a defined contributlon scheme. The pensions costs ch8rg0d to the SOFA in tho yoar are the contributions payablg (2024.. £1.269, 2023.. £1.750). A valuation of the Pension 8ullder Schem8 is cathed ¢)ut oncg every three years. The most recent valuation w8S aled out as at 31 December 2022. For thè Panslon Builder Classic sectlon. the valuation revealed a surplus of £34.8rn on the ongolng assumptions used. At the most recent annual revlew effective 1 January 2025, tho Board those to grant a discretionary bonus of 6.7% to both pensions not yet in paent and pensions In payment in respect of service prior to April 1997. and a bonus on penslons in paym8nt In SpeCt of post April 2006 sérvie8 so that the pension incr8a$e was 2.7% (vthere usually It would b8 calculated basèd on Infiation up to 2.5%). Thls followed improvements In the funding poslllon over 2024, There Is no rèquirement for deficit payments al the Current time. The next valuation is due as at 31 December 2025. For the Pension Builder 2014 section, the valuation Tev•aled a surplus of £8.5m on the ongolng assumptions used. Therg is no requirement for defiut payments at the current time. The legal structure of the scheme is such th* rf another 8Tnployer fails, Kiddemiinster East Parochlal Church Council could become responsible for paying a share of the failed employets pension liabilit5. RELATED PARTY DISCLOSURES During the year a grant of £nil {2023.' £2,337) Vds received from the Stone P8rochial Charity, of which Mr M Gough, Mrs S Laffey and Mr C Emeny are truslees. This grant was in relation to St Mary's ¢hurchyard repairs and maintenance. During the year the parish office managed the operatlons and finan[ of The Emily Jane Brooks TNst Idwrity no. 2357821. a charity which shares commcm trustees of Kidderminster East. No income is received ft)r the provision ofthis $8Tvice by the parish office. Page 21 continued...
Kldderrnlnstsr East PCC Noto9 to the Flnanclal Slatsm•nts - continued for the Yèar Ended 31st D0mber 2024 20. PURPOSE OF FUND8 UNRESTRICTED FUNDS Ggneral Fund The unrestricted general fund can bg used for any charitable purpose wlthln the charltys objects and approved by the Trustees. St Chalfs DCC Café Fund This fund is designated for the purpose of supwrtirkg the café at St Chad's church. St Chad'$ DCC Lagacy Fund This fund is designated for the purpose as specbfied in legacies. Parish Offl¢e - Leswell Stroot Fund This Ojnd is designated for the purpose of providing a loan facilty to the DCC'S for maintaining and imKoving the hurches. st Casslan's DCC General Fund - discontinuing i)p•ralions This represents the unrestrid&d general fund of St Cassian's DCC. whlth left the Parochial Churth CourKil of Kiddenninstsr East on 1 January 2024. RESTRICTED FUNDS St Casslan'$ DCC . Chan¢91 Fund This fund has been created from the conversion of ca181 endowment funds into income and is r8strictsd for the Purpose of church upkeep. St Cas$lan's DCC - Church Bells Fund This fijnd is restricted for thg purpose of the upkeep of the church b811s. St Casslan's DCC - E. Pratt Fund Thls fund is restricted for the PUTposes of supporting the poor. the oyganlsts and the choir. St Ca88ian's DCC - Gèn•ral Ropalr Fund This fund Is comprfsed of grants received for specific general pur¢has88. St Casslan's DCC - Gr•atwi¢h Fund Thi$ fvnd 1$ restrlcted for the purposés of upktep of the churchyard. St Casslan's DCC - John Gllu Bellrlnger8 Fund This fund is restricted for the purpose of rlnging the church bells on a Specific day in December in th• memory of John Giles. St Casslan's DCC - Mllls Chlldren's Activities Fund This fund is restricted for the purpose of supporting children's activitiès in Chaddesl8y Parfsh. Sl Casslan's DCC - Mltchell Charfty Fund This fund is restricted for the pU05P of the upkeep of the churthyard. Last year the fund was merged with the Greaiwich Churthyard fund since they have the same purposes. St Casslan's DCC - Wllllam sebrlght Fund This fund is restricted for the purpose of helping the needy and dis-advantaged of Chaddesley Parish to sustain St Ce¢ilia's Car pa Fund This fund is restricted for the purpose of resurfacing the car park. St Cocilia's Commun6ty Fund This fund is restricted for the purpose of spending on a Community Fund. to include provldlng 8 Wami Space by way of a weekty breakfast moming in the Church Hall. St C•cllla Famlty Activity Aftomoon Fund This fijnd is restis¢ted for the purpose of hosting Family k11ty Aftemoons. St Cecllla* Jubil•• Fund This fvnd is rethcted for the purpose of hostiNJ a Jubllee event. Page 22 continued...
Kldderniln8tsr East PCC Not•s to Ihe Flnan¢ial Patat¢m¢nts - continued for th• Yoar Ended 31st December 2024 20. PURPOSE OF FUNDS - continuod St Chad's Communlty Support Fund This fund has been created this year following the receipl of datiOnS to Spend on 'Communty Support, by way of activities designed to support the families in need living in the estate around the Ghurch. St Chad'5 DCC- Ropair Fund This fund is restri¢led for the purpose of covering the cost of any significant repairs and improvements to the thurch, as specified by the donor. St Georgg's DGC- Blg Local DY10 This fund is comprised of grants received from Local T( to be distributed to approved causes in the Horse Fair, Green Hlll and Broadwaters areas. In 2018, Big Local DY10 appointed the Parfsh of Kidderminster East as its Local Trusted Organisation. r8sponslbie for receiving and distiibuting this funding. St George's DCC - Choir and Organ Fund This fund is restricted for the purpose of paying for choir and organ oxpenditure. Sl Goorye's DCC - Church Malntenance Fund Thls fund is restricted for the purpose of paying for Ihe ggneral maintenance of the Church. st Georgo'$ DCC - Genèral Pur¢has• Fund Th1$ fund is ccmprised of grants received for specific general purchases, St George's DCC - Knlt and Knatter Fund Thls fund 1$ rgstricted for the purpose of the Knit and Knatter group priNJucing kniti8d articles for local families in the Big Local DY10 HBG area. St George's DCC - MacFarJano Fund This fund is r8slricted for the purpose of the provision of music and other thoir related expenditure at st George's Church. St G•orge's DCC - Rool Acco88 Fund This fund is restricted for the purpose of Vering the costs asso¢lated with the roof a¢c688 proiecL st George's DCC - Trees Fund This fund is restricted for the purpose of unsafe trees and branches in the churchyard, Heatlng Fund The PCC was awarded a grant from the Worcester Diocesan Board of Finance tOW8rds the increased energy bills. St Mary's DCC - Bell ITow8r Ropalr Fund Thi5 fund is restri¢ted for the purpose of coverng the cost of any repairs to the Bell or Tower. St Ma$ DCC -churchyard Fund This fund is restslcted for the purpose oflhe upkeep of the chur¢hyard. St Mar3 DCC - Comér Café Fund Thls fund is r8stri¢ted for the purpcise of Nnnlng the Comer Café. Parish offi . Emily Jano Brooks T$t Fund This fund was restricted for the purpose of provldlng support to the slck and nggdy of the parfsh. Parish Offlce- Mary Wll¢ox Fund This fund is rostrictsd for the purpos8 of provldSng support to the elderly In outlwng areas. Page 23