Registered Charity no, 1132263 Parochial Church Council of the Ecclesiastical Parish of Hagley St John The Baptist with St. Saviour Known as St. John The Baptist With St. Saviour Hagley Trustees Annual Report and Accounts Year Ended 31 st December 2024 st. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Contents Page Page Legal and Administrative Information Trustee's Annual Report Independent Examiners Report statement of Financial Activities Statement of Financial Position 10 Notes to the Financial Statements 11 st. John The Baptist . Saviour Hagley Year Ended 31st December 2024 Legal and Administrative Information Background The Charlty Is called "Parochial Church Council of the Ecclasiastlcal Parish of Hagley St John The Baplist with St. Saviou¢'. The Charity Is also known as "St. John The Baptist Wilh St. Saviour Hagley" 'Hagley C Of E Church" and"Hagley Parochial Church Council The Church is a registered Charity with tho Charity Commission for England and Wales and was registered on the 22nd October 2009, Hagley Parochial Church Council has the responsibility of working with the incumbent. the Reverend Thomas Owen {appointed 5th December 2024), in "promoting in the parish the mission of the Church, pastoral, evangelistic, social and ecumenical" To the Council are entrusted the finances of the parish and the care and maintenance and insurance of the church buildings, grounds and churchyard. The Council is assisted in its responsibilities for St John's by the Friends of St John's which 18 a separate charity. Registered Charity Number 1132263 Registorod Office St Savlour's Church 1 Park R08d Hagley Worcestershir8 DY9 ONS Webslte www.haglayGof8.co.uk Member3hlp Members of the Parochial Church Council (PCC) are either ex officio or elected by the Annual Parochial Meeting in accordance With thg Church Representalion Rul8s. During the year, the following served as members of Ihe PCC and trustees exceptwhere noted otheNise' Incumbent and Chalr Revd Richard Newton (until 3aih June 2024) Revd Thomas Owen (from 5th De￿mber 2024) Revd Kim Topham (Chair between 1st July and 5th December 2024) Associate Priest Retired Clergy Revd David Blackburn (not PCC member) Churchwardens Judy Day (resigned April 2024) John Gowar Michael Norris Susan Fiona Taylor (appointed April 2024) Alan Smith (appolnted April 2024) Secrelary Sue Priest Treasurer lain Wright {r@signed 31st December 20241 Mark Taylor (appoint8d 1st January 2025) St. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Legal and Administrative Information Deanery Synod Fieps Sharon Bryant Jenny Mouldor (safeguarding officer) John Gowar Other Elected Members Rebecca Hindmarsh Margaret Rankin Malcolm Roberts Sue Priest (appointed April 2024) Paul Evans (appointed April 2024) Bill Green (appointed April 20241 Margaret Tindall (appointed April 2024) Nioolg Wallace (appointed April 2024, resigned January 2025) Richard Scarth (resigned April 2024) Margaret Hendarson (rasigned April 2024) Primary Bankers HSBC UK 114 High Street Stourbridgè W8st Midlands DY8 1DZ Independent Examinér Nigel Wyatt BSC FCA Wyatt & Co Chartered Accountants 125 Maln Street Garforth LS25 1 AF st. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Trustee's Annual Report The financial statements have been prepared in accordance with the Church Accounting Regulations together with applicable accounting standards and the Charities Statement of Rgcommanded Practice. A more detailed explanation of the specSfic accounting policies adopted is set out on pages 11 and 12 of the financial statements. Background Hagley Parochlal Church Council has the r8sponslbllity of working with the inGumbent, the Reverend Tom Owen, in "promoting in the parish the mission of the Church, pastoral. evangellstic, soclal and ecumenical.. Thg Councll Is entrusted with the flnances ofthe parish and the care and maintenance and insurance ofthe church buildings, grounds and churchyard. The Council is assist8d in its responsibilit18s for St John's by the Friends of Sl John's. Committoes The PCC operales through a number of committees, which me&t bebNeen PCC meetings, standing Commiltee This is Ihe only committee required by law, It has the power to transact the business of the PCC belween its meetings, subject to any directions given by the Council. FinanGe Comrnittg@ Oversees the financial position of the Parish by monltorlng incoma and exp8nditur8, budgeting and oth8r financial stewardship issues. Fabric Commfftee Looks aft@r Ihe fabric of both the church buildlngs. ChurGh Hall Management Con7miétee Altends to Ihe maintenance and administration of the Church Hall attached to the Church Building at st Saviour's Church, Park Road, Hagley. As at 31st December 2024, 115 people were on the electoral roll, 21 ofwhom resided outside the Parish, The Charity relies on the services of a large number of unpaid volunteers. in particular the Churchwardens and Treasurer. R8view of the Year The PCC met six times durlng the year. The committees met as and wh8n necessary. between PCC m8etings. Reports were submitted to the PCC detailing recommendations and decisions made. The PCC and its committees have undertaken risk assessments, including matters of health and safety, building checks required by law and monitoring of Thè Children's Act, and have adopted the dlocese's policies for Safeguarding. The PCC is aware of its duty to have due regard to the House of Bishop's guidance on safeguarding children and vulnerable 8dults. In 2024 the PCC useol the "Safeguarding tc>olkiV' provid8d in the diocese as a way of self-assessment lo seek to ensure it is fulfilling that duty. The Reverend Rlchard Newton retired on 30th Jun6 2024 and the R8V8r6nd Thomas Owen was licensed on 5th December 2024. Klm Topham has continued to S81V6 as an Associate Priest. Alison Lewis has contlnued to serve as a Reader, Rosie Padmore as an ALM in Clant and Jenny Moulder as an ALM in Hagley. We have continued to have servlces led by David Blackburn, a retired priest and we have benefitted from other visiting clergy18ading our services during the Inter regnum. The paltern of services in 2D24 has continued to be all mornlng services at Hagley and Clent at 10.3Dam. These 5nclude family seNlces, holy communion with provision of children's activiti6s and occasional café church services held in St Saviour's church hall. A said holy Communion s8rvice is held at Sl Savlour's church on Thursday mornings at 10.30am. Additional services were held at Easter and Christmas . Other special services included the R&vergnd Newton's retlrement service, the Fieverend Owen's Llcencing s&rvice, a songs of praise servica, a harvest festival and All Soul's service, Baptisms, weddings and fun8rals were held throughout the year. Social events have Included the annual crlck8t match, tea and songs of praise, an advent lunch and a Christmas fair with Father Chrlstma5. We have supported the following charlt5es during the year., The Black Gountry Foodbank, the Childran's Society and Toilet Twinning. St. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Trustee's Annual Report The Hagley Hub has continued to be well attended. This is a collaborative project with all the churches in Hagley, the district councilor, Wl and local business88.11 provides a warni space for all ages to meet. The PCC continues to consider ways to improve its environmental Gredentials through its eco-church group. We have now achieved the bronze award and are looking al how we can reduce our carbon footprint through updatlng our heating systems. The incumbent is in the process with the PCC of formulatlng a vision and plan for th@ future ofthe churches, Flnanclal Reviow The lotal incoming resources for the year ended 31st December 2024 were £210,584 {2023- £130,381). Resources exp&nd&d were £178,976 (2023,. £138,433} resulting in an operating surplus of £31,608 {2023.' £6,052 deficit). The only restricted income in the year was donations of £2,306 {2023'. £200) which were paid over to the charities for which the donations were made. There was a bequest of £57,626 (2023., £nil) from an estate which was made on an unrestricted basis. The ministry share payabl8 by the Hagley b8nefice for 2024 was £54,000 {2023'. £43,404)- Our investments, which include prop8rty funds and UK and overseas equities continued to generate income. The income generated from investments was £23,054 {2023: £21,055) and there has been an unrealised gain of £20,516 {2023.. £111,680), reflecting stability in the investment markets in 2024. The total value of investments, 8fter sales of £20,000, has increased by £1,061 to £839,080. Thls Is a 0.1010 increase {12.39Q/o incr8ase in 2023). Thls is a valuatlon on ona sp8cific date and Is subject to market conditions at the tim8. Th8 PCC holds total funds of £916,541 as at 31 st December 2024 (2023: £864,417}. Within this totsl, aflera numberof transfers in the year, are unrestriGted"Free" funds of £117,168 (2023: £66,319) which may be used for any purpose. The remaining funds ar8 either restrlcted for a particular purpose or 8ndowed and not avallable to spend. Further d8tails of th8 funds are glven in note 12. The PCC consider it Important to malntaln 'Freg" funds to ensur6 the contlnuing financlal InrJep8ndenc8 of th6 Parish, particularly with reference to Ihe ongoing maintenance of Church buildings, and to conlinu8 lo meet parish share obligations. The PCC consider that"Free funds of £100.000 would be suffici8nt for such purpose and so is currently holding amounts marginally in excess of that amount. Public Benefit Statement In setting our objectivas and planning our activities our trustees have given considaration to th8 Charity Commission, general guidance on PLJblic benefit and in partlcular the advancament of the Christian faith through the provision of worship and teaching services and th8 relief of sickn8ss, financial hardship and promoting good health. This has been achieved by the provision of funds and services. Golng Con¢ern The Trustees are satisfied that the Charity is a going concern and do not know of any uncertaintles regarding the organisations ability to continue operatlng as a going Goncern. st. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Trustee's Annual Report Trustees, Responsibilities The 2011 Charitie5 Act require the Board of Trustees to prepara financial statements for 8ach financial year which give a twe and falr vlew of the state of the charity as al the encl of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Boardls required to:_ Select sultable accountlng policies and apply them consistently. Makejudgments and estimates that are reasonable and prudent. Prepare financial statements on the ongoing concern basis unless it is inapproprlate to presume that the trust wlll continue in existence. State whether applicable accounting standards and stalements of recommgndad praclicg have been followed, subject to any material departures disclosed and explalned Sn the financial stalgments. The trustees are responsible for keeping proper accounting records, which disclose with reasonab16 accuracy at any time the financial position of the trust. They ar8 also responsible for safeguarding the assets of the trust and hence for taking reasonabls steps for Ihe preventlon and detection of fraud and other irregularities. Signed on beh81f of the Trustees.. Name of Trustee . Date:... st. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Independent Examlners Report I report to the Irustees on my examination of the financial statements of St. John The Baptist With St. Saviour Hagley {'the charity'l for the year ended 31st Decembèr 2024. Responslbilities and Basis of Report As the trustees of the charity you are responsible for th8 preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my oxamination of the Gharity's financial statements carried out under section 145 of the 2011 Act and in carrylng out my examination I have followed all the applicable Directions given by the Charity Comrnission under section 14515)(b} of th@ Act. Independent Examinerfs Statement I confirm that l am qualified to undertake the examination because l am a merrb8r of th8 Institut6 of Chartered Accountants in England and Wales (ICAEW}, which is one of the listed bodies. I h8ve completed my examination. I confirm that no material matters have come to my attention in connection wilh th8 examination giving me cause to believe that in any material respect., 1, accountlng records were not kepl in respect of the charity 8s requirad by sgctian 130 of the Act., or 2, the financial statements do not accord wlch those records. or 3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {AGcounts and Raporls} Regulations 2008 other than any requlrement that the accounts glve a 'true and fair, view which Is not a matter considergd as part of an independent examination. I have no concerns and have come across no other matt@rs in connection with the examination lo which attentlon should be drawn in this report in order to 8nable a proper understanding of the accounts to be reached, Nigel Wyatt BSC FCA Independent Examiner 125 Main Street Garforth Leeds LS25 1AF Date.. 2510412025 St. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Statement of Financial Activities 2024 Unrestrlcted Endowment Restrf¢ted Funds Funds Funds 2023 Total Funds Tolal Funds Note Income DonatlOn5 and legacies Charitable activities Investment inGome othar incom8 116,675 49,039 23,054 19,510 2,306 118,981 49,039 23,054 19,510 67,600 35,267 21,055 8,459 Total Income 208,278 2,306 210,584 130,381 Expenditure Expenditure on Gharitable activiti8s 176.670 2,306 178,976 136,433 Total Expendilurg 176.670 2,306 178,976 136.433 Net Incomel(Expenditure) Before Gains 31,608 31.608 {6.D521 Unrealised Investment galns 959 19,055 502 20,516 111,860 Net Income 32,587 19,055 502 52,124 105,808 Net Income and Net Movement In Funds Total funds brought fonward 12 Transfers 12 66,319 18,373 762,625 {5,264) 35,473 (13,109) 864,417 758,609 Total Funds Carrled Forward 12 117,259 776,416 22,866 916,541 864,417 All ineome arid expenditure derive from continuing activities. St. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Statement of Flnancial Position 2024 2023 Note Fixod Assets Tangible fixed assets Inveslment assets 2,411 839 080 841491 838 019 838 019 CurrentAssets Stock Debtors Short lerm deposits Cash at bank and in hand 100 3,247 3,353 51.653 10 8,822 3,531 69,102 81,455 58,353 Credltors.. Amounls Falling Due Wlthln One Year Net Currenl Assets 11 6,405 31,955 75,050 26,938 Total Assets Less Current Llabllltles 916,541 864,417 Net Assets 13 916,541 864,417 Funds of the Charity Restricted ￿rnds Endowment funds 22,866 776,416 35,473 762,625 Unrestricted funds Unrestricted general Designated ￿ndS 117,259 29,864 36,455 117,259 66,319 Total Chartty Funds 12 916,541 864,417 Trustee Responslbllllles These financial statements wère approved bythe board of trustees and authorised lor Issue.. Name of Trustee: Signed on behalf of the Truslees.. Data of approval: 10 St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the Flnancial Statements Accounting policies Basis of Preparation The financial statements have been prepared In accordance with the Statement of ReGommended PractiGe- Accounting and Reporting by CharltSes Financlal Reporting Standards applicabl& in the UK and Republic of Ireland (Charities SORP 2019 FRS 102} and the Charities Act 2011. Assessment of Golng Concern Preparation of the accounts is on a going concern basis. The Trustees consider Ihat there ar8 no material uncertainties about the Charity's ability to continue as a going concern. Fund Accounting Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the Gharitable objects. Unrestricled funds can include designated funds where the trustees. at th6ir discretion, have set aside resources for a specific purpose. Restricted funds aro funds which are lo be used in accordance with specific restrictions imposed by the donor or the term of specific appeal, oft8n know as a 'sp8cial offering, in the church. Endowad funds ar8 funds wh6re the capital given cannot be expended bul the income from the capital can be used for th8 purposes which the donor gave the capital. Further explanation of th8 nature and purpose of each fund is included in the notes to the accounts. Incomlng Resources All incoming resources are recognised once the charily has entitlement to the resources, it is probable that the resources will be received, and the monetary valu8 of incoming resources can be measured wlth sufflclent rellablllty. All voluntary Income from members of the church is recognised as donations and are included in fvll, with associated Gift Aid receivable In the Statement of Financial Activiti9S. Grants where entitlement is not conditional on the delivery of specific performanc@ bythe charity are recognlsed when the charlty becomes unconditionally entitled to the grant. Income resources from charitable trading activities such as the letting of the building are accounted for when invoices are drawn up {as the point of entitlem8nt). Donated services and facilities are included at the value to the charily where this can bo quantified. Gifts in Kind are accounted for at a reasonable estimate of their valua to the charity or the amount actually realised. Volunteer time. the value of voluntary Support for the work of the church is not included In the accounts but is described in the Trustegs annual report. • Inveslment InGome is included in the accounls when receivable. Galns and Losses On Investments Realised gains or losses are recognised when Investmenls are sold, Unrealised gains or losses are accounted for on revaluation of investments at 31st December, 11 St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the FinanGial Statements Resources Expended Expenditure Is recognlsed on an accrual basis as a liabllily is incurred. Liabilities are recognised where it is more likely than not that there is alggal or constructive obligation committing the Charity lo pay out the resources and the amount of the obligation can be measured with reasonable certainty. Llabllltles Rocognlllon Liabilitl8s are recognised as soon as there is a legal or construclive obligation committing the charlty to pay out resourc&s. Tangible Flxed Assets Consecrated land and buildings and movable church furnlshlngs Consecrated and beneficed property is excluded from the accounts by section 1012}la) ofthe Charilies Acl 2011. No value is placed on movable church furnishings held by the churchwardens on Special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during Ihe year on consecrated or benefice buildings and movabl@ church furnishings, whether maintenance or Improvement, is written off as expenditure in th8 Statement of Financial Activities and separately disclosed. other fixtures, fittings and offlce equlpment Equipment used within the church premises is depreciated on a slraight line basis over th8 assets estimated useful economic life of be￿en three and five years. Individual items of equipm8nt with a value18ss than £500 ar6 written off when the asset Is acqulred. Inv8Stments Investments are includ8d at open market valu8 a8 advised by indepandgnl inv9Stm8nt advisors. Operating Leases Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease. Taxatlon The charity is exempt from fax on its charitable activities. Key astlmatas and Judgements The key estlmate In producing the financial statements Is tha valuation of thg investm8nts at market value, which is sourced from independent inv8Stment advisors. The key judgement In producing the financial statements is whether it is approprlats to prepare the accounts on a going concem basis, which given the level of unreslricled res8rv6S it is considered appropriate. 12 St. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Notes to the Financial Statements 2 Analysls of Income Unrestrlcted Endowment Restrfcted Funds Funds Funds Total 2024 Donatlons and Legacies Donations Bequests Collections (open plate) all services Gift Aid 42,897 57,626 4,853 11,299 2.306 45,203 57,626 4,853 11.299 .116,675 2,306 118.981 Charitable Activities Community events Wedding, funeral and burial fees Coffee incorve Room and hall rental 24,113 24,576 25 325 24.113 24,576 325 49,039 49,039 Investment In¢ome Investment income 23,054 23,054 23,054 23,054 Other Income other Income Contributions to costs 1,027 18,483 1,027 18,483 19,510 19,510 Total Income 208,278 2,306 210,584 14 St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the Financial Statements 2 Analysis of income (Contlnuedj Unrestricted Endowment Restricted Funds Funds Funds Total 2023 Donations and Legacies Donations Collections (open plate) all sarvices GiftAid Friends of Sl Johns donation 51,263 4,148 11,989 51,263 4,148 11,989 200 200 67,400 200 67,600 Charltable Acllvltles Communily events Wedding, funeral and burial fees Room rental 9,183 25,284 800 9,183 25,284 800 35,267 35,267 Investment Income Investment in(xJme 21.055 21,055 21,055 21,055 Other Income oth8r income Conlrtbutions to costs 1,123 5,336 1,123 5,336 6,459 6,459 Total Income 130,181 200 130,381 14 st. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Notes to the Financlal Statements 3 Expenditure on Charitable Actlvities by Fund Type Unrestrlcted Endowmenl Restrlcted Funds Fund8 Funds Total 2024 Bulldlng running costs 45,016 45,016 Church management and administration 8,315 8,315 Church running costs Clergy assigned fees Clergy expense5 Mission giving and donations P8rish share Salary and honoraria costs Wedding and funeral Costs Exceptional costs 3,137 1,732 4,549 4,606 54,000 15,016 17,878 3,137 1,732 4,549 6,912 54,000 15,016 17,878 2,306 22,421 22,421 176,670 2,306 178,976 The exceptlonal costs in the year ended 31 D6cember 2024 relatg to th6 write off the bank balance In relallon to the Church Hall erron8ously included in prior years accounts, Unrestrict8d Endowment Funds Funds R8Strict8d Funds Totsl 2023 Building running costs Church management and administration Church running costs Clergy assigned fees C18rgy 8xpenses Misslon giving and donations Parish fees Parish shar8 Salary and honoraria costs Wedding and funeral costs 36,074 17,692 36,074 17,692 9,104 1.306 7,163 1,071 3,616 43,404 14,098 2,905 136,433 9,104 1,306 7,163 3,616 43,404 14,098 2,905 136,433 15 St. John The Baptist With St. Saviour Hagley Year Ended 31 st Docember 2024 Notes to the Financial Statements 4 Volunteers The church benefits greatly from the voluntary contributions of time and money by its formal rnembers and regular attendees. Please refer to the Trustee's report for further details about volunteer contributions in the organisation. 5 Independent Examination Fees Fees payable to the independent examiner for: 2024 2023 Indapendent examination 1.320 1,744 6 Staff Costs The total staff costs and employee ben8fits for the r8POrting perlod are analysed as follows.. 2024 2023 Wag8s and salaries Social security costs Employer contributions to pension plans 9,481 8,938 9,481 8.938 The average head count of employees during the year was as follows.. 2024 2023 Average head count No employee rece5ved employee benefits of more than £60,000 during tha year. During the year the PCC have employed a part-time parish administrator and also paid honoraria and occasional fees to organists and vergers. The administrator, organist and vergèrs ar8 members of the PCC, The Incumbent and Associate Priest received reimbursement of travel expenses bul no oth8r mgmb8rs of the PCC received any remuneration or reimbursement of travel expenses. Key Manag8ment Personnel Tha charity considers ils key manag@ment personnel to be the church Rector who's salary is covgrèd by the local diocese and not the PCC. 16 St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the Financial Statements 7 Trustee Remuneration, Expenses and Donations During the year seven trustees (2023: two trustees) incurred out of pocked expenses lotaling £4,773 (2023- £6,762) which were all incurred for the day to day runnlng of the chariti85 activitles. The types of expendilure Include organlst costs, building expenses and other charitabl8 activity expenditure. During the year one trustee was employed during the year and receSved th8 followlng remuneration for their work as an administrator lo the church and not for their role as a Trustee. 2024 2023 Susan Pri&st 9,481 8,938 8 Tanglble Flxed Assets Fre@hold Fixtures and property fittings Total Cost 8s at 181 January 2024 Additions 6,123 2,459 6,123 2,459 Cost as at 31st December 2024 8,582 8,582 Depreciation as at 1st January 2024 Dapreciation Charg8 Depreclation as at 31st Decemb8r 2024 6,123 6,123 48 ,171 6.171 Net Book Value as at 31st December 2024 2,411 1411 Nel Book Value as at 31st Dec8mber 2Q23 17 St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the Financial Ststements 9 Investments P&rmanent deposited funds Investmgnl fund shares Total Opening balance as at the 1st January 2024 Additions Disposals Unreeli8ed gains Closing balance as at 31st December 2024 835,215 2,804 838,019 (19,4551 2Q,393 (19,455) 20,516 839,080 123 836,153 2.927 The Investment Fund Shares comprise income shargs in tho Central Board of Finance of the Church of England Investment Fund ICOIFI and accumulation units in the GOIF Charities Invastment Fund, and income shares in CBF Properly Fund, CBF UK Equity Fund and CBF Investment Fund. Permanent Deposited Funds compris8 cash on dèposit with the Central Board of Finan￿ Deposit Fund and COIF Deposit Fund. Durlng 2007 a sale of Inveslment Fund Shares realised £20,000 to provide cash for the Disability Discrimination Act improvement works at St. Saviourfs, with the prlor approval oflhe Charity Commission. This investment will be replacèd over 40 years by the purchase of £500 of units each year and commenced in 2008. During 2024 a sale of investment fijnd shares generated £20,000 {2023'.£20,000) to provide cash far the day to day runnlng of the church. A proflt of £45612023.'£534) was reallsed on the sale of th8 shares. 10 D8btors 2024 2023 Debtors.and accrued Income 8,822 8,822 3,247 11 Creditors: Amounts Falllng Due Wlthln One Year 2024 2023 Accruals Trade creditors other creditors Dgferr8d income 1,8DO 2,522 2,083 24,244 1,478 6,083 150 6,405 3t,955 18 St. John The Baptlst With St. Saviour Hagley Year Ended 31 st DeGember 2024 Notes to the Financial Statements 12 Analysis of charitable funds 1 Jan 2024 Income Expenditure Gains Transfers 31 Dec 2024 Unrestricted General 29,864 29,864 208,278 (176,670) 959 54,828 117,259 Deslgnated Music Fund 2020 Bèquest Major Repairs 10,000 3,205 23,250 (10,000) (3,205) {23,250) {3￿455) 36.455 Total Unrestrfded 66,319 208,278 (176.670) 959 18,373 117,259 Endowment Funds 1 Jan 2024 Income Expenditure Gains Transfers 31 Dec 2024 Marson Legacy Priest Expenses TC Edwards Church Maintenance Marson Trust Chruch Malntenanc CG Davies St Johns Maintenance Church Hall Fund Church Cottage Fund TC Edwards Reclor Expenses Other 124,397 2,847 127,244 7,845 180 8,025 7,957 182 8,139 45,828 1,049 48,877 140,117 420.416 7,922 6,616 (501) 147,538 427,032 259 11,302 11,561 4,763 (4,763) (5264) Total Endowmenl 762,625 19,055 776,416 19 St. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Notes to the Financial Statements 1 Jan 2024 Income Expenditure Gains Transfers 31 Dac 2024 Restricted Funds Church & Church Yard St John Belfry Helen Shaw Youth Fund St John's Development Peace Garden Frlends St John's Donations 19,979 4,605 502 1628) (2,378) 19,853 2,227 576 576 191) 210 10,012 210 110,012) 2,306 2,306 (2,306) (2 J06) Tolal Restricted 35,473 502 (13,109) 22,866 Total Funds 864,417 210,584 (178,9761 20,516 916,541 20 St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the Financial Statements 1 Jan 2023 Income Expenditure Gains Transfers 31 Dec 2023 Unrestricted General 30,845 30,845 130,181 130,181 (136,433) (136,433) 5,271 29,864 5.271 29,864 D8signated Music Fund 2020 Bequest Major Repairs 10,000 3,205 23,250 36,455 10,000 3,205 23,250 36,455 Total Unrestricted 67,300 130,181 1136,4331 5,271 66.319 Endowment Funds 1 Jan 2023 Income Expenditur8 Gains Transfers 31 Dec 2023 Marson Legacy Priest Exp8nses TC Edwards Church Maintenance Marson Trust Chruch Maintenance CG Davies St Johns Mainlananc8 Church Hall Fund Church Cottage Fund TC Edwards Rector Expenses Other 113,700 10,697 124,397 7,171 674 7,845 7,273 684 7,957 45.828 41,887 3,941 76.364 396,041 63,753 24,375 140,117 420,416 10,330 972 11,302 4,763 4,763 Total Endowment 657,529 105,096 762,625 21 St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the Financial Statements 1 Jan 2023 Incorne Expenditure Galns Transfers31 Dec 2023 Restricted Funds ChurGh & Church Yard st John Belfry Helen Shawyouth Fund st John's Development Pgaca Garden Friends St John's 18,486 4,605 1,493 19,979 4,605 576 576 91 91 210 9,812 33,780 210 10,012 35,473 200 Total Restricted 200 1,493 Total Funds 758,609 130,381 1136,433} 111,860 864,417 Fund Descriptions Deslgnated Funds In Novamber 2024 the PCC decided lo r8turn to unrestricted funds those funds Ihey had previously design8t8d as th6 purposes for which those funds had been designated would be covered by uniastricled funds In the future, Endowment Funds TC Edwards Church Maintenance-mainlenance of both churches Marson Trust Church M81ntenanc8-Tnaint8n8nce of both churches CG Davles St Johns Maintenance-maintenancè of St John's church Church Hall Fund-the proceeds of the of the old church hall in 1972 Church Cottage Fund-proceeds ofthe sale of the Church Cottage in 2016 TC Edwards Rector Expens8s-incom8 to be applled for the Rector's discr8tionary expens8S Marson Legacy Priest Expenses-for R8Ctor's expenses In 2024 the PCC decided to transfer the Other endowment fund to unrestricted reserves as th8y held no details to which this fund related. The other transfers of endowment funds to unrestrlcted funds in 2024 havg rnade to ensure the fund balance is in agr68ment with the inveslm8nts relating to Ihose funds. 22 st. John The Baptist With St. Saviour Hagley Year Ended 31 st December 2024 Notes to the Financial Statements Restrlcted Funds Church & Church Yard- maintenance of both churoh65 St John Belfry-maintenance of St John's belfry Helen Shaw Youth Fund-to promote children's worship Peace Garden-the establishment of a peace garden In 2024 the PCC decided to transfer the St John's Development fund from restricted to unrestricted funds given the small value of that fund. The PCC investigated the reason for the Friends St John's fund and discovered thal it was donations by the Friends of St John's charity to the PCC for repairs underiaken on Sl John's church by the PCC. The cost of those repairs has, in previous years, been charged against unrestricted reserves. Therefore, In 2024 this fund has been transferred to unrestricted funds. The other Ir8nsfers of endowmont fLJnds lo unrestricted funds in 2024 have made to ensure the fund balance is in agreement with Ihe investments relating to those funds. Fund History Unrestrlcted Funds Unrostricted funds ar6 the gen8ral funds of the Church which may be used at the discretion of the PCC for furtherlng the mlssion and ministry of the Church. The money may be designated for particular projects for administration purposes only. Designated funds remain unrestricted and can be redesignaled if the PCC so decides. Restrlcted Funds Restricted funds are thos8 funds which have been restrictad by the donor for a particular purpose. These funds cannot be used by the PCC for any other purpose exc8pI by the agreement of the donor or as determined by th8 courts or the Charity Commission. Endowm8nt Fund During 2008 the PCC applied to the Charity Commission for pemiission to re-designale £20,OOD of the Church Hall Fund as unrestrlcted, for the express purpose of providing funding for the Disability Dlscrlmlnation Act works at St Savlours, Such pgrmission was duly granted wlth the condition that transfer would be made between future unrestricted funds to the endowment fund at the rate of £500 par annum for the next forty years. An endowment fund Is a type of restrict6d fund which Is given with the specific instruction that only the incomFJ gain8d from the mon8y can b8 spent or ifthe gift is an asset then it must be retained, An endowm8nt fund may b8 p8rman8nt with no power of convgrsion into income or expendable which may allow the fund to be spent in certain ¢lr¢umsldnces. St. John The Baptist With St. Saviour Hagley Year Ended 31st December 2024 Notes to the Financial Statements 13 Analysis of Net Assats Between Funds Unreslrlcted Endowment Funds Funds RestrlGt&d Funds Total 2024 Fixed assets Current assets Creditors less than 1 year 45,223 78,441 {6,405} 117,259 776,416 19,852 3,014 841,491 81,455 (6,405} 916,541 776,416 22,866 Unrestricled Endowment Restricted Total Funds Funds Funds Funds 2023 Fixed assets Current assets Creditors less th8n 1 year 55,415 42,859 {31,9551 66,319 762,625 19,979 15.494 838,019 58,353 131,955) 864,417 762,625 35,473 14 Rglated Party Transactions At the year end an outstanding loan balance of £2,08312023' £6,083) was repayable to Parochial Church H811 (Charity number.. 501502) a related party entity. Reverend Thomas Owen, John Gowar, Sharon Bryant and Margaret Rankin arejoint truste8s of Parochial Church Hall and St. John The Baptist with St. Saviour Hagley.