sr PEfER'S PARISH CHURCH TRusfEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (Registered Charlty Number 1131758) Thomas & Young Ltmlted Chartered Accountants Solihull
sr PEfER'S PARISH CHURCH CONTENTS Page Legal and administrative infOnation Trust, Rert Independent Examiners, Rert statement of Finanoal Artivitie5 Balan Sheet Notes to the AcccMJnts 9-15
sr PEfER'S PARISH CHURCH Page I arity Inforniation Chairnn Rev Canon Martin WtX*Jard Stephenson Rev Canon Martin Woodard Stsphen Dr David John Andrews Mrs Kathryn June Hawker Mrs Josephine Crane Mrs Phyllis Mary Benedikz Mr Colin Dunbar Mr Edward Rcger Hill Mrs Anne Burgess Kay Stephenson Mrs Jennifer Birth Mrs Karen Wilson Mr Peter Weir Mr Adam North Mrs June Martin Charity Number 1131758
sr PEfER'S PARISH CHURCH Page 2 Charity Inforniatlon (Continued) Chaiity Offices Highfidd Road Hall Green Birmingham B28 0r Bankers HSBC 34 Poklar Road S)iihull West Midlands B913AF Churth of England Dewsit Fund 85 Queen Vittorba Street London EC4V 4Er Independent Examiner Thomas & Young rnited Carleton House 26&268 Stratford Road Shidey lihull West Midlands B90 3AD
sr PETER'S PARISH CHURCH Page 3 REPORT OF THE TRusfEES For the year ended 31 December 2023 The Twstees present their report for the purpx)ses of Part 8 of the Charities Act 2011 for the year erxkn 31 Dember 2023. TRusfEES The who servej durirvj the year are named page l. PRINCIPAL OFFICE The pYrn(ipal Offi is: Highfield Road Hall Green Bimingham B280 ADVISORS DURING ThE YEAR Independent Examiner: Bankers: Thomas & Young Limfted HSBC thurch of England DepJsit Fund OBJECTIVES AND AcrIvmES St Peter's remains an AnglicAin Parish Church committed to sharing the love of &)d with all with whom it come5 into contact. It is usually open for public worship every Sunday, at 8.30am, 10.00am and for evening worship On a month at 5.00pm, on weekdays on Wednesday mornings at 10.00am, and on Thursday evenings at 6.30pm. A staff of one fijll time stipendiary minister (incumbent) and one stirEndiary minister seNe alongside other ordained staff and attrve lay people. We employ a part time Parish Administrator who is generally available in the Parish Offi on Wednesdayi ThuaY and Friday momings. We have a regular and Icffig-temi commitment to providing opporbjnities for young and old to flourish. 'Food and Friendship'_ a lunch club meets every Wednesday and, staffed by an energetic team of volunteersi provides a Mting pla, hospitality and a c(K)ked meal for 20-30 people. Our toddler group, Tots and Co, again staffed by volunteers, provides a recreational Spa for parents or grandparents or carer5 and prSch¢)01 babies and (hildren every Friday. Our youth groups comprise a thriving Scout Company (254th) with Beavers, Cub knuts, Scouts and Explorers, Rainbows and Brownies meeting every Friday in companies, a Girfs, Brigade Company (80th) of approximately 30 young people wrth substantial voluntary adult leadership, as also a Boys, Brigade Company (80th) with membership of approximatety 30 young people and, likewise, a committed team of volunteer leaders. Amicus Youth Group (associated with Boys, Brigade) for those over 14 provided additional opwrtunities for meeting and recreation for young ople. Scouts provided regular oUtdr attivities and campsi and Boys, and Girls, Brigade ran another successful summer camp in August 2023.
ST PETER'S PARISH CHURCH Page 4 REPORT OF THE TRusfEES {continued) OBJEcfIvES AND ACTIVThIES (CONTINUED) In addition to this regular church groups meet for Christian discipleship leaming and development and for mutual encouragement and SUPFQPt These Include a women's group, IM)me groupsi and Mothers. Union. We have gcod relath)nshlps with local schools. The Wicar did not renew for a new term as Governor at Chilcote Primary School in 2023, but associations with the school remain strong. Regular visits are made to the church by pupils at Hall Green JUnr School. In 2023 60 children from year 5 classes at Chilcote and 120 children from year 2 classes at Hall Green Infant School made an educational visrfc to the church, arml Chilcote SchcK)I held a whole school end of temi Christmas asmbty in church. We u)ntinue to seek to Lage members of the church and frndS far aThJ wide on social media. Slnce Increaslng our online presence during the pandemic, we have not now substsntialty reduced it. Our relatnshIpS with local Christian Churche5 remain strong, and we held Lfnfted seNice5 and meetings throughout the year. The churches co-operate with youth work, especially through the charity Hall Green Youth, whKh employs youth workers to run youth dubs for vulnerable teenagers and does substantial mentoring work in Hall Green Schcol. We continue to support at a distantt our partner churth of St Mark's Mzuzu by regular prayer and sharing of news. In addition, in 2023, a5 we had in previous years, we held an Iftar meal in church during Ramadan and welcomed about 100 people, IrKluding many Muslim friends as well as people from Christian churthes and other faith and no faith commitrnents. This gatheriThJ was attended by the Mayor of the West Midlarmls, Andy Street, and focused on the work faith communities do together to run fc banks and support those adversety affected by the cost-of-living increases. Our relatK)nships with other faith and non-faith group5 are gcxjd and assisted by our partnership In Hall Green Forum whith co-ordinates caring groups auoss B28, m&ting at Highfietd Hall Community Centre. In September 2023 we Installed a new heating system of air sourtr heat pumps after a successful fund-raising campaign and as a part of our efforts to move towards being carbon neutral. We were supported by the Benefact Trust and the Aviva Community funding scheme, as well as Garfield Weston many generous bcal donors. In November 2023 we were Informed St Peter's (hurch h1 been awarded GTrde 2 Ilsted status on the National So)eme supervised by Histor England. In 2024 we k¥Jk forward to even closer co-operation with our local Anglican partners at The Church of the Ascension and St Michael's as we become an 13ver5ight Area under the new pastoral scheme set up by Church of England BirFningham. FUTURE PLANS The charty plans to continue to promote the Church as per the ObieLtNes and Attivities lavj out above. FINANCIAL REVIEW The flnancial statements show net income for the year of £153,521 (2022 £123,807) and the total fuTh balance at 31 Dember 2023 was E366,651 (2022 £415,464).
Page 5 sr PEfER'S PARISH CHURCH REPORT OF THE TRUSfEES (continued) INvesrMENT POUCY It is the policy of the TrUStS to sk a balanced retum btheen income and capitsl over the IONJ term. The market value of investments at 31 December 2023 was £33,228. Movements In the value of these investments have resulted in an increase of £4,081 to the ojmuiative unrealised galns at 31 DeMb 2023. RESERVES POLICY It ss the 1¢Y of the Trustees to kp reserves at a level that would meet beeen 3 and 6 months, expenditure of the Church. Ba1 on the 2023 accounts, the band would be btheen £30,000 and £60,000. At 31 December 2023 unrestricted reserves amounted to £326,006 and restritted resee$ £40,645. RISK MANAGEMENT The Trust have examined the principal strategic and operational risks, which the tharity fa and confim that systems have trken established to minimise these risks. RESPONSIBILrriES OF ThE TRusfEES Charity law requires the management ccfflmittee to prepare financlal statements for each finanaal year, whith show a true and fair view of the 5trte of affrdirs of the chanty and its finanaal artivities for that riod. In preparing th0 financial statements, the management committee are required lect suitsble accounting policies and then apply them conslstenuy. make judgements and estimate5 that are reasonable and prudenL state whether applioble accounting stsndards and statements of recommended practice have been followed, Subj to any departures disdctsed and explainej in the financial statements; and prepare the financial statements on the going )nrn basis unless It is inappropriate to presuTrE that the charity will continue in operational existerbTr. The management o)mmittee are reswnsible for keeping proper accounting records, which disdose th reasonable aUrac¥ at any time the finanaal position of the charity and to enable them to ensure that the finanoal ststements com with the Charities Act 2011. They are also responsibte for safeguarding the assets of the drity and hen for tsknng reasonable steps for the prevention and detion of fraud and other irregularit6es. APPROVAL This rep3rt was approved by the Trustees on and signed on their behalf by: Mrs Jennifer Birth (Hon Treasurer)
sr PEfER'S PARISH CHURCH Page 6 Independent Examiner's Report to the Trustees of St Peterfs Parish Church I repx)rt on the accounts of the Charity for the year ended 31 Cmber 2023, whith are set out on page5 7 to 15. Respecbve responsibilitles of trustees and examiner The tharivs TSteeS are resp)nsiNe for the prepaRtion of the accounts. The charivs Tw5tees consider that an a1t is not requ11 for this year under Sectlon 144 (2) of the Charities Att 2011 (the 2011 Act) and that an independent examination is need8J. It 15 my re5[nsIbl11ty to: examine the accounts under Settion 145 of the 2011 Art; to follow the prcKedures laid down in the general Directions glven by the Charty CA)mmission under Section 145 (5) (b) of the 2011 Act; and to stste whether particular matters have come to my attentbon Basis of irKlependent examinerfs report My examination was (zrried out in accordan with the general Directions given by the Charlty Commission. An examination indudes a review of the ac(Dunting records kept by the charity and a ccthparison of the aOUnts presented with those records. It also indudes consideration of any unusual items or disclosures in the aco)unts and explanation5 fr(xn you as Trust ceming any such matters. The prctedure5 undertaken do not provide all the eviden that would required in an audit and consequently no opinion is given as to whether the accounts present a 'lrue and fair view" and the rep)rt is limbted to those matters set out in the statement
sr PEfER'S PARISH CHURCH Page 6a Independent Examlner's Report to the TNstees of St Peterfs Parish Church (continued) Independent examinerfs statement In o)nnection wfth my examinatK>n no Matter has o)me to my attention: which gNes me reasonable cause to telieve that in any material respett the 1Ments. to keep accounting records in accordan with Section 130 of the 2011 Act; and to prepare acmunts whlth accord with the accounting records and comply with the accounting r4uirements of the 2011 Att have not bn met; or to whKh, in my opinion, attentKJn should be drdwn in order to able a proFEr under5tsnding of the aC)unts to be reached. J FCA FCCA Thomas & Young Limtt&d Chartered Accountants & Registered ALKlitors Carfeton House 266 - 268 Stratford Road Shirley Solihull West Midlands B90 3AD Dated:
sr PEfER'S PARISH CHURCH Page 7 statement of Financial Artivities for the year ended 31 December 2023 UnrestiiLted Restricted Totsl Funds Funds 2023 Toial 2022 Note Income and endowments from: Donatlons and1aaeS artsble attivitie5 Income fn)m investments 78,170 23,237 8,594 41,706 457 1,357 119,876 23,694 9,951 97,304 16,907 9,596 Total income and endowments iio,ooi 43,520 153,521 123,807 Expendlture on: Charitsble activities 205,586 830 206,416 119,127 Total expenditure 205,586 830 206,416 119,127 Net (losses)Igains on investments 307 3,774 4,081 (8,687) Net {expenditure)lincome (95,277) 46,464 (48,813) (4,007) Transfer between funds 72,894 (72,894) Other recognised gainsl(losses) Galns on revaluatlons of fixed assets 45,000 Net movement in funds (22,383) (26,430) (48,813) 40,993 Reconciliation of funds: Total ndS brought forward 13114 348,389 67,075 415,464 374,471 Total funds carried forward 13114 326,006 40,645 366,651 415,464
Page 8 ST PEfER'S PARISH CHURCH BALANCE SHEEr As at 31 Dember 2023 Note 2023 2022 FIXED ASSErs Tangitle assets 310,000 310,000 Investsnents io 33,228 57,622 CURREpif ASSErs li Cash at nk and In hand 32,573 47,842 32,573 47,842 CREDITORS: anM)unts falling due within one year 12 9,150 Net current assets 23,423 47,842 Total assets less current liabilities 366,651 415,464 INCOME FUNDS R*rictg Unrestrict 13 14 40,645 326,006 67,075 348,389 366,651 415,464 Approved ty the Trust on and signed on its behalf by: Mrs Jennifer Birch (Hon TsUrer)
Page 9 sr PEfER'S PARISH CHURCH NOTES TO THE FINANCIAL sfATEMENTS for the year ended 31 December 2023 Accounting Poliries Charity inforniation St Peterfs Parish Church is a registered (jrity in England. The address of the reglstered Offi is given in the Charity infomatK)n on page 2 of these finanaal statements. The nature of the Charivs operations and ptincipal activities are provickd on ge5 3 to 5. 1.1 ACCotIng convention The Charity constitutes a public benefit entty as defined by FRS 102. The finandal statements have tren prepared in am)rdan with Accounting and ReFKJrting by Charities: Statement of Recommended practi applicable to chariti preparing their accounts in accordan with the Financial Reporting Stsndard applicable in the UK arvj Republic of Ireland i55ued in Octoker 2019, the Finanaal Rep)rtirv4 Standard applicable in the United Kingdom and Republic of Ireland (FRS 202) , the Charities Act 2011 and UK Cnerdlly Accertsd A(£ounting Practi. The finanaal ststements have tEen prepared to give a Irue and fairf view and have departed from the Chaiities (Acmunts and Report5) Regulations 2008 only to the extent required to provide a Irue and fair view,. This departure has invotved following the Acunting and ReForknng by thaiibes: Statement of Recommended prarti applicable to Charities preparing their accounts in accordan wf(h the Finanaal RetKlrting Standard applioible in the UK and Republic of Ireland issued in OctotrEr 2019 rather than the A(rnunting and Reporting by Charities: Ststement of Recommended Practi effective froml Aw"12005 which has sin been withdrawn. The accounts are prepared in stertingi which is the funttrorbal cuffency. The Monetsry amounts in these finanaal statements are rounded to the nearest £1. The acUnts have bn prepared under the historical cost convention, rdified to Indude the revaluation of fr&hokl proFerties and to indude investrnent properties and rtain finanaal Instruments at fair value. The wncipal accounting kK4icies adopted are set out 0W.. 1.2 Going COnM At the time of appng the accounts. they have a reasonable exrkttation that they have adequate resour to continue in operatlonal existe for the foreseeable ture. Thus, they continue to adopt the going concem basis of accounting in preparing the accounts.
Page 10 sr PEfER'S PAIUSH CHURCH NOTES TO THE FINANCIAL sfATEMEKrs for the year ended 31 December 2023 Accounting Poliaes (Continued) 1.3 Charitable funds Unrestricted ndS are available for use at the di9Tetion of the in furtheran of their chatitable objeLtives unless the fvnds have been design1 for other pUrpeS. RestrIcl fiJnds a subject to speLiflc condftions by donors as to how they may be used. The purpo and uses of the restrictaj funds are set out in the notes to the a(£ounts. 1.4 Zncomlng resources In(Dme is recognised when the Charity Is legally entitled to it after any rfOmnts conditi(S have bn met, the amounts can be measured reliab, and it is pbabIe that income will be Cash donatlons are OgnISed on receipt. Other dcmations are reccgnised On the Charity has been notified of the donation, unless perf0rnan ct)nditions require deferral of the amount. Income tax recoverable in relation to donations received undw Gift Aid or Deeds of Covenant is recc¥Jnised at the time of the donation. Legaae5 are rKDJnised on receipt or otheMise rf the Charity ha5 teen notified of an impending distribution, the amount is known, and rereipt is expectol. If the amount Is not known, the legacy is treat&l as a contingent asset. Tumover is measured at the fair value of the consideration eNed or receivable and represents amounts recebvabie for gcK)ds or seNices provided in the rtcmial course of business, net of discounts, VAT and other sales relat taxes. 1.5 Investment properties Investment properties for which fair value can be measured reliabty wfchout undue cost or effort are measured at fair value at each retxirting date with thanges in fair value recojnised in net gainsl(IosRs) on investments in the SOFA. 1.6 1mpairnRnt of fixed assets At each reportirKJ end date, the tharity reviews the carying amounts of its tanglble and intangible assets to determine whether there is any indi(2tton that those assets have suffered an impaimient loss. If any such indication exists, the recoverdble amount of the asset is estimat&J in order to detemiine the extent of the impairment10s5 (if any). Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cashflows are discounted to their present value using a pre- tax discount rdte that rellerts current market assessments of the time value of money and the risks specik to the asset for which the estimates of future cashflows have not been adjusted. If the recoveratAe amount of an asset is estimated to be less than Its (3rying amount, the carying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(eYpenditure) for the year, unless the relevant asset is carried at a revaluejj amoun¢ in whi(h case the impairment loss is tated as a rewaluation
Page 11 sr PEfER'S PAIUSH CHURCH NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 Accounting Polldes (Contlnued) 1.6 Impairnient of fixed assets (Contlnued) Recojnised impaimient losses are reversed If, and only if, the reasons for the Impairrrt loss have Sed to app. Where an impaimient loss subsequendy reverses, the carrying amount of the asset is increasgj to the revised estimate of its recoverable amount, but so that the inueased ¢2rying amount does not exceed the carying amount that would have been detennined had no impairment loss bn re)gnIsed for the asset in prior years. A reversal of an impairment ti)ss is reajgnised immediately, unless the relevant asset is carried in at a revalued amunL in whith case the reversal of the impairment loss is treated as a revaluation increase. 1.7 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposlts held at oll wfch banks, other short- term liquid investments and original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within Ixjrrowings in ojrrent liabilities. Critlcal accounting estimates and judgements In the appliotion of the Charivs accounting txjlicies, they are requir1 to make judgements, estimates and assumpts.ons about the orrying amount of assets and liabilitie5 that are not readily apparent from other sour. The tiMate5 and aSslated assumptions are based on historicBI eX[Erien and other factots that are considered to be relevant. Actual results may differ from estimates. The estimates and underlying assumptKins are review&d on an ongoing 515. Revision5 to accounting estimates are recognised in the period in whith the estimate is revised where the revision affects only that pericx1, or in the pEricMJ of the revision and fiJture pericxys where the revision affects Ixth ojrrent and future FeriLKJs.
Pdge 12 sr PEfER'S PARISH CHURCH NOTES TO THE FINANCIAL sfATEMENTS ft•r the year ended 31 December 2023 Income fmm donations and legacles 2023 2022 Legacies Donations 119,876 97,304 119,876 97,304 Income from donations and legaaes wa5 £119,876 (2022 £97,304) of which £41,706 (2022 £16,550) was attribUtae to restritted funds and £55,342 (2022 £80,754) was attributsble to unrestricted funds. IndLKled in the above are stewardships and offerings as follows.. 2023 2022 Regular gwing Cash Contributions Donations eligible for gift aid 17,512 2,660 5,313 1,490 39,694 53,979 59,866 60,782 Income from chaiitsble artivities 2023 2022 other 23,694 16,907 Income from tharitsble activities was £23,694 (2022 £16,907) of which £457 (2022 £524) was atbibutsbk to restriitsj funds and £23,237 (2022 £16,383) was attributable to unrestritted funds.
sr PEfER'S PARISH CHURCH Page 13 NOTES TO THE FINANCIAL sfATEMENTS for the year ended 31 December 2023 Income frnm Investments 2023 2022 Interest from depxjsits Rentsl income Dividends 926 7,500 1,525 125 7,500 1,971 9,951 9,596 Income from inve*ments was £9,951 (2022 £9,596) of whlch £1,357 (2022 £1,585) was attributsble to restritted funds and £8,594 (2022 £8,011) was attributsble to unrestrirted funds. Analysis of expenditure on charitable actlvltles Actlvities Undertak Directly Support Costs Totsl 2023 Totsl 2022 a)urch actwit Actiwts"es support o)sts Charity appeals and donatN)ns 129,198 55,000 7,990 14,228 143,426 55,01)0 59,669 52,501 6,957 192.188 14,228 206,416 119,127 £830 (2022 £4,712) of the atrx)ve cx)sts were attributable to $trIcted ndS and £205,586 (2022 £114,415) were attributable to unrestricted funds. Allocation of support costs Raising Funds 2023 2022 990 15 5,827 7,395 Finan offi costs Other 15 8,630 7,029 14,227 16,634
Page 14 sr PEfER'S PARISH CHURCH NOTES TO THE FINANCIAL sfATEMENTS for the year ended 31 December 2023 Governance costs 2023 2022 Tst remunerat Trust exFenses Independent examlnets remuneration 960 960 Tanglble Flxed Assets Investment Prnperty 2023 2022 Cost or valuation l January 2023 Revaluation during the year 310,1)00 265,000 45,000 31 DeceJnLEr 2023 310,IJ)O 310,000 The investrnent property was revalued In Aprfl 2022 by Rrxjers and Partners (Prop Speaalists), on an on rnaet basis. The trustees ojnsidw there to be no significant thange to the valuation at the Balan Sheet date. 10 Investments Church of England Investment Fund 2023 2022 As at l January 2023 Drvidends reinvest1 Di5P05al Unrealised profit on rewdluation 57,622 1,525 {30,000) 4,081 74,337 1,972 (10,000) (8,687> As at 31 DeCeMr 2023 33,328 57,622
sr PEfER'S PARISH CHURCH Page 15 NOTES TO THE FINANCIAL sfATEMEiirs ft•r the year ended 31 Dmber 2023 11 Debtors 2023 2022 Other debto 12 Creditors amounts Pdlllng due within one year 2023 2022 Accruals and deferr&d income 9,150 13 Restiicted Funds Balance Balance l January Incoming Resources Invéstment 31 D•cember 2023 Trnnsftrs Resources Expènd•d 2023 MerTh)riats Fund 30,733 373 27,658 8,311 (12,764) 18,838 373 I7,(7 4,367 FabrK Fund Fkaung Fund (13,462) (42,894) 3,140 39,512 12691 15621 67,075 (69,120) 43,521 1831) 40,645 14 Unrestricted Funds Balanc4 l January Intomlng Resources Inv•stment 31 December 2023 Transfers Rèsources Expended Proffts 2023 Churthwardens Tt Fund charttab Gtving Fund Genernl ReseNe nd wrage DecorotKJns Fund St Peterfs Day Centre Heating Fund oir fvnd 3,251 190 2,272 105,225 3,441 497 316,826 702 4,030 269 242 (2,163) (203,279) 327,386 702 3,077 13,680 292 87,494 11,000) (13,681} 2,045 270 {92) {50) 348,389 73,201 iio,ooi (205,585) 326,LK)6