## **Parish of Moseley, 2021 Accounts** ## **Statement of Financial Activities** |**Note**
**Income and Endowments from:**
**Donations**
2
**Charitable activities**
2
**Other trading activities**
2
**Investments**
2
**Total**
**Expenditure on:**
**Raising funds**
3
**Charitable activities**
3
**Total**
**Net income/(expenditure) before**
**investment gains**
**Net gains on investments**
5
**Net income**
**Transfers between funds**
8
**Net movement in funds**
**Total funds at 1st January**
**Total funds at 31st December**
8|**Unrestricted**
**Unrestricted**
**General**
**Designated**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
77,792 100,000
- -**177,792 95,066**
2,829 - 5,174
-**8,004 76,830**
16,485-
--**16,485 17,776**
120,710 14,801 -
-**135,511 108,693**
217,817 114,801 5,174
-**337,793 298,364**
- -
--**- -**
255,380 - 226
-**255,606 318,006**
255,380
- 226
-**255,606 318,006**
(37,563) 114,801 4,948
-**82,187 (19,641)**
- 290,877
--**290,877 7,708**
(37,563)
405,678 4,948
-**373,064 (11,934)**
194,970 (194,970)
- -**- -**
157,408 210,708 4,948 -
**373,064 (11,934)**
113,834
2,685,862 87,753 -
**2,887,449 2,899,383**
**271,242 2,896,570 92,701 - 3,260,513 2,887,449**
**TOTAL FUNDS**| |---|---| ## **Parish of Moseley, 2021 Accounts** ## **Balance Sheet at 31st December 2021** |**Note**
**Fixed Assets:**
Tangible - Investment
4
Tangible - Operational
4
IT
Investments
5
**Current Assets:**
Debtors
6
Short term deposits
Cash at bank and in hand
**Current Liabilities**
Creditors
7
**Net Current Assets**
**Total Net Assets**
**Represented by parish funds:**
8
Unrestricted – general
Unrestricted – designated
Restricted
Endowment|**2021**
**2020**
**£**
**£**
**720,000 720,000**
**80,000 80,000**
**- -**
**2,272,906 1,982,029**
**3,072,906 2,782,029**
**26,398 59,198**
**130 130**
**179,638 117,121**
**206,166 176,449**
**18,559 71,029**
**187,607 105,421**
**3,260,513 2,887,449**
**271,242 113,834**
**2,896,570 2,685,862**
**92,701 87,753**
**- -**
**3,260,513 2,887,449**| |---|---| The notes of pages 4 to 9 form part of these financial statements. The financial statements were approved by the PCC on 18th Apri 2022 and signed on its behalf by: **The Revd Duncan Strathie Vicar of Moseley** ## **1. Principal Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS102. The financial statements have been prepared under the historical cost convention except for investment assets, which are included at fair valuation. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. Following transition to FRS102 for the first time, all the accounting policies have been aligned with the new accounting standard and where these have resulted in a material change to the amounts, classification or presentation within the financial statements as at the date of transition then a transitional adjustment has been made. The principal accounting policies and estimation techniques are as follows: ## **Funds** Funds over which the PCC’s control is limited by statue or the terms of a trust deed, or which are restricted in their use have been defined as “restricted funds”. Funds which are controlled by the PCC and over which there are essentially no restrictions as to their use have been defined as “unrestricted funds”. Designated funds are unrestricted funds that have been set aside by the PCC for purposes designated by PCC policy. Such designations may be set aside from time to time according to policy decisions. _Endowment Funds_ are funds, the capital of which must be retained either permanently or at the PCC’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. _Restricted Funds_ comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor, and (b) revenue donations or grants for a specific PCC activity intended by the donor. _Unrestricted Funds_ are income funds which are to be spent on the PCC’s general purposes. _Designated funds_ are general funds set aside by the PCC for use in the future. Designated funds remain unrestricted and the PCC will move any surplus to other general funds. ## **Income** All income is included in the Statement of Financial Activities when the PCC is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognized can be quantified with reasonable accuracy. Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the income to which they relate is received. Grants received which are subject to pre conditions for entitlements or use specified by the donor which have not been met at the yearend are included in creditors to be carried forward to the following year. Dividends and rents are accounted for when declared receivable, interest as and when accrued by the payer. All income is accounted for gross. ## **Expenditure** Liabilities are recognized as soon as there is a legal or constructive obligation committing the PCC to pay out resources. Expenditure is included on an accruals basis under the following headings; all costs are allocated under a specific category: ## _Costs of raising funds_ These are the costs associated with the PCC’s fundraising activities. ## _Charitable expenditure_ Charitable expenditure is analysed between ministry and mission expenditure. Ministry expenditure includes the direct costs of running the church such as the diocesan parish share, church building and service costs. The diocesan parish share expected to be paid over is accounted for when due. Mission expenditure includes mission giving and donations, outreach in the community activities, children's work cost and associated staff costs. Support costs consist of central management, administration and governance. These are costs which are directly attributable to a specific charitable activity. Grants and donations are accounted for when paid over or when awarded. Expenditure is accounted for gross. ## **Tangible fixed assets and depreciation** Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church’s inventory, which can be inspected (at any reasonable time). There is insufficient cost information available and therefore such assets are not valued in the financial statements. So all such expenditure has been written off when incurred. The properties the PCC owns comprise of 25, 25A, 25B, 27, 29 & 31, 31A & 31B St Mary's Row. During 2015 in line with the revised Charities accounting requirements (FRS 102) properties have been split Investment and Operation on the Balance Sheet. Investment Properties were revalued by Fishers Property & Lettings Management in September 2015. This valuation is reflected in the Balance Sheet. Operational Properties were not revalued so a high level estimate has been included. Depreciation is not provided on these properties as any provision (annual or cumulative) would not be material, due to the very long expected remaining useful life and because it’s expected residual value is not materially less than its carrying value. The PCC has a policy of regular structural inspection, repair and maintenance and the property is unlikely to deteriorate or suffer from obsolesce. Equipment used within the church premises is depreciated on a straight-line basis over four years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. There are no such assets at this time. ## **Financial instruments** The PCC has elected to apply the provision of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments” of FRS102 in full to all of its financial instruments. Debtors which are receivable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Debtors are subsequently measure at amortised cost being the transaction price less any amounts settled and any impairment losses. Creditor’s payable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Creditors are subsequently measure at amortised cost being the transaction price less any amounts settled. |**2. Income**
**Donations**
Free Will Offering (Inc Gift Aid)
Legacies and Donations
**Charitable Activities**
Churchyard Project
Christmas Day Together
Childrens' Fund
Music
Urban Fund
Pew Bibles
Choristers' Fund
Organ
Social & Fundraising Events
**Other Trading Activities**
Lettings
Hall Hire
less: expenses
Other Income
Net fees for weddings and funerals
**Investments**
Bank interest & dividends
Property rentals
less: expenses
Solar Panels' Generation
**Total Income**|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
76,173
76,173
101,619 - 101,619
**177,792**
**- 177,792**
- - -
- 400 400
- - -
- - -
- - -
- - -
- 2,000 2,000
- 2,774 2,774
2,829 - 2,829
**2,829 5,174 8,004**
403 - 403
12,246 - 12,246
(9,807) - (9,807)
8,133
- 8,133
5,511 - 5,511
**16,485**
**- 16,485**
72,707 - 72,707
61,876 - 61,876
(3,223) - (3,223)
4,153 - 4,153
**135,511**
**- 135,511**
**332,618 5,174 337,793**
0|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
66,508 - 66,508
28,557 - 28,557
**95,066**
**- 95,066**
- - -
- 310 310
- - -
- 500 500
- - -
- - -
- 75,961 75,961
59
- 59
**59 76,771 76,830**
300
- 300
12,438
- 12,438
(9,658)
- (9,658)
9,559
- 9,559
5,138
- 5,138
**17,777**
**- 17,777**
70,913
- 70,913
50,302
- 50,302
(16,069)
- (16,069)
3,546
- 3,546
**108,693**
**- 108,693**
**221,594 76,771 298,365**
0| |---|---|---| |**3. Expenditure**
**Expenditure on Fundraising:**
**Charitable Expenditure:**
**_Resourcing Ministry_**
Clergy Expenses
Associate Vicar Stipend
Church Buildings and Yard- See Note 12
Music, Organ and Choir
Altar items
Flower Guild
Other Church Activities
Pew Bibles
Common Fund to Diocese
Support for resourcing ministry
**_Resourcing Mission_**
Christmas Day Together
Urban Fund
Children's Work
Charitable Giving
Support for resourcing ministry
**Total Expenditure**
**Analysis of Support Costs**
Parish Office
Other Costs|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
0
0
0
6,756 - 6,756
- - -
24,573 - 24,573
11,934 - 11,934
266 - 266
(150) - (150)
1,481 - 1,481
- - -
148,909 - 148,909
31,465
- 31,465
**225,234**
**- 225,234**
- 226 226
- - -
19,260 - 19,260
7,389 - 7,389
3,496
- 3,496
**30,146 226 30,372**
**255,380 226 255,606**
**Unrestricted**
**Restricted**
**TOTAL**
**General**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
33,803 - 33,803
1,158 - 1,158
**34,961**
**- 34,961**|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
0
0
0
8,696
- 8,696
- - -
75,497
- 75,497
9,490 500 9,990
- - -
800
- 800
1,297
- 1,297
- - -
160,749
- 160,749
30,733
- 30,733
**287,263 500 287,763**
- 223 223
- - -
18,208
- 18,208
8,398
- 8,398
3,415
- 3,415
**30,020 223 30,243**
**317,283 723 318,006**
**Unrestricted**
**Restricted**
**TOTAL**
**General Funds**
**Funds**
**2020**
**£**
**£**
**£**
31,585
- 31,585
2,563
- 2,563
**34,148**
**- 34,148**| |---|---|---| |**4. Tangible Fixed Assets**
**Cost/valuation**
At 1 January 2021
Additions
Disposals
**At 31 December 2021**
**Accumulated depreciation**
At 1 January 2021
Charge for the year
Disposals
**At 31 December 2021**
**Net book value**
**At 31 December 2021**
At 31 December 2020
**5. Investments**
M&G Charifunds Equities Investment Fund
CCLA Property Fund
CCLA Investment Fund
**6. Debtors and Prepayments**
**Receivable within one year:**
Gift Aid Recoverable
British Gas Feed In Tarif
Rent
St Anne's Hall
Prepayments
Other Debtors
**7. Creditors and Deferred Income**
**Amounts falling due within one year:**
Utilities
Charitable Giving
Salaries
Common Fund
Curate Rent
Rental Costs
Deferred Rent
Church maintenance
Other Creditors
**8. Movements in Funds**
**Endowment Funds**
**Restricted Funds**
Churchyard Fund
Bell Fund
Fabric Fund
Christmas Day Together Fund
Childrens Fund
Pew Bibles
Music Fund
Choristers' Fund
Organ Fund
These properties comprise of 25, 25A, 25B, 27, 29 & 31,
and church used buildings. The properties were last rev|**Investment**
**Properties**
**Operational**
**Properties**
**IT Equipment**
**Total**
**£**
**£**
**£**
**£**
720,000 80,000 2,578**802,578**
-- -**-**
- - -**-**
**720,000 80,000 2,578 802,578**
-
- 2,578**2,578**
- -
**-**
- - -
**-**
**- - 2,578 2,578**
**720,000 80,000**
**- 800,000**
**720,000 80,000**
**- 800,000**
**As at 1 January**
**2021**
**Purchases**
**Disposals**
**Change in**
**market value**
**As at 31**
**December**
**2021**
**£**
**£**
**£**
**£**
**£**
**274,514**
**0**
**0**
36,726
**311,240**
**393,721**
0
0
63,225
**456,946**
**1,313,794**
0
0
190,926
**1,504,720**
**1,982,029**
0
0
290,877
**2,272,906**
-
-
**2021**
2020
**£**
£
7,453
44,265
7,699
3,546
1,610
1,417
4,505
3,516
5,051
6,337
80
117
**26,398**
**59,198**
0
-
**2021**
2020
**£**
£
0
40,508
6,367
500
3,619
5,050
0
8,857
5,500
3,750
0
2,655
575
6,568
1,068
0
1,430
3,141
**18,559**
**71,029**
0
0
**01-Jan-21**
**Income**
**Expenditure**
**Capital**
**movements**
**Transfers**
**31-Dec-21**
**£**
**£**
**£**
**£**
**£**
**£**
0
0
0
0
0
**0**
0
0
0
0
0
**0**
0
0
0
0
0
**0**
0
0
0
0
0
**0**
0
0
0
0
0
0
**0**
2,000
0
0
0
0
**2,000**
4,328
0
0
0
0
**4,328**
3,222
400
(226)
0
0
**3,396**
2,035
0
0
0
0
**2,035**
206
0
0
0
0
**206**
0
0
0
0
0
**0**
0
2,000
0
0
0
**2,000**
75,961
2,774
0
0
0
**78,735**
87,753
5,174
(226)
0
0
**92,701**
0
31A & 31B St Mary's Row. These properties include a combination of residential, commercial
alued in 2015.| |---|---| |**Designated Funds**
Church Ball Fundraising
Underhill Bequest Fund
St Anne's Piggott Fund
St Mary's Row Properties
IT Equipment
Investment Growth Fund
Agreed Improvements Fund
Staffing Developments Fund
Vision 13 Fund
Premises Fund
Contingency Fund
**Unrestricted funds**
General
**Total Funds**|5,172
0
0
0
0
**5,172**
0
100,000
0
0
0
**100,000**
275,027
14,801
0
36,726
(36,726)
**289,828**
800,000
0
0
0
0
**800,000**
0
0
0
0
0
**0**
(0)
0
0
254,151
(254,151)
**(0)**
42,027
0
0
0
0
**42,027**
400,000
0
0
0
0
**400,000**
998,636
0
0
0
(4,093)
**994,543**
40,000
0
0
0
100,000
**140,000**
125,000
0
0
0
0
**125,000**
2,685,862
114,801
0
290,877
(194,970)
**2,896,570**
0
113,834
217,817
(255,380)
0
194,970
**271,242**
0
**2,887,449**
**337,793**
**(255,606)**
**290,877**
**0**
**3,260,513**| |---|---| Note that, for the purposes of the 2021 accounts, all funds which were treated as designated in the separate parishes of St Anne's and St. Mary's have continued to be treated as designatd in the merged parish. Of the transfers into the parish's general fund, £36,726 was trasnferred from the St Anne's Piggott Fund, and £158,244 from the Investment Growth Fund. **Churchyard Fund** . Church Yard Heritage project income funded by the National Lottery Heritage Fund. **Bell Fund** . During 2015 a restricted £2,000 donation was received toward the ongoing upkeep of the bells from the Trust. **Fabric Fund.** This fund resulted from an appeal and is restricted for re-ordering of the Nave Altar and Chancel. **Christmas Day Together Fund** . This annual event has a specific fund for its income and expenditure. **Children's & Youth Fund** . During 2017 the trustees of the Ballance Trust provided £2,035 toward Children and Youth work **Pew Bibles** . During 2016 the trustees of the Ballance Trust provided £2,000 for the purchase of Pew Bibles. **Music Fund** . This is made up of donations towards the provision of music at the church by the Friends of St. Mary's Music and Choirs. **Choristers' Fund:** A donation of £2000 from the Ouseley Trust in 2021 to fund scholarships for choristers of the parish **Organ Fund:** These are funds specifically raised to refurbish the organ in St Mary's **Church Ball Fundraising:** Funds raised in support of the annual church ball at St Anne's **Underhill Bequest Fund:** 2021 bequest from the Underhill Estate **Piggott Fund:** Funds for support of the running of St Anne's church **St Mary's Row Properties.** See Note 4. **Investment Growth Fund.** Assumed on investments. This is significantly less that recent returns but returns can be volatile. **Agreed Improvements Fund.** Sufficient funding to provide for the remaining Church Yard Project, altar frontals and £20,050 bequest received in 2018 **Staffing Developments Fund** . To provide medium/long term funding for staff salaries once or if funding from investments reduces e.g. by reordering the church **Vision 13 Fund.** Reserve £1m to fund Vision 13 costs **Premises Fund.** Provide funds for improvements to the church and other PCC premises **Contingency Fund.** Hold in reserves the equivalent of approximately 6 months general running costs for unforeseen events. **General Fund.** Provide a general reserve to provide deterioration in finance, one off costs and cash flow ## **8a. Fund Transfers** The following highlights transfers between funds and there reason |**Redistribution of Investment Growth**
**Other Changes**
Tangible fixed assets
Investments
Debtors due within one year
Debtors due outside one year
Short term deposits
Cash at bank
Creditors due within one year
Creditors due outside one year
**9. Analysis of Net Assets by Fund**|**General Funds**
**Investment Fund Other Funds**
check
Top up of General Fund - Investment G
154,151
(154,151)
-
Top up of General Fund - St Anne's Pig
36,726
(36,726)
Top up of Premises Fund
(100,000)
100,000
-
Fund Reordering costs
4,093
(4,093)
-
**Total**
**194,970**
**(290,877)**
**95,907**
-
-
-
**Total**
Total
**2021**
2020
**£**
**£**
**£**
**£**
**£**
£
0
800,000
0
0
**800,000**
800,000
0
176,336
2,096,570
0
0
**2,272,906**
1,982,029
0
26,398
0
0
0
**26,398**
59,198
0
0
0
0
0
**0**
0
130
0
0
0
**130**
130
0
86,937
0
92,701
0
**179,638**
117,121
0
(18,559)
0
0
0
**(18,559)**
(71,029)
0
0
0
0
0
**0**
0
**271,242**
**2,896,570**
**92,701**
**0**
**3,260,513**
2,887,449
-
0
-
-
-
0
-
**Restricted Fund**
**Endowment**
**Fund**
**Unrestricted**
**General Funds**
**Unrestricted**
**Designated**
**Funds**| |---|---| ## **10. Related Party Transactions** The PCC has related charities for which some PCC Trustees are also Trustees. The following cash transactions and closing balances are included in the accounts:- |**Related Party**
Flower Guild
**Total**|**Cash In**
**Cash Out**
**Owed**
**Owing**
**£**
**£**
**£**
**£**
0
650
0
0
**0**
**650**
**0**
**0**| |---|---| During 2021, there were no related party transactions with The Friends of St Mary's Choirs & Music or with the Organ Renovation Fund. No member of the PCC was paid during the year. A small immaterial portion of the expenses paid to the incumbent may have related to his service as chairman of the PCC. Some immaterial reimbursements for general church activities were paid to some PCC members or persons closely connected to them. |**11. Staff costs**
Wages and salaries
Social security costs
Pension contributions|**2021**
2020
**£**
£
65,148
61,047
0
0
688
684
**65,836**
61,731| |---|---| During the year the PCC employed a Director of Music, Site Services Manager, a Benefice Support Manager (job share) and Intergenerational Ministry Co-ordinator. In line with legislative requirements the PCC introduced a Workplace Pension Scheme from September 2016. |**12. Church Buildings and Yard**
St Anne's Utilities, Insurance and Maintenace
St Mary's Yard
St Mary's Utilities
St Mary's Insurance
St Mary's Building Works, Repairs & Cleaning
Add back: one off gain from Scottish Power settlement|**2021**
2020
**£**
£
**11,057**
11,404
**2,305**
6,772
**(25,264)**
18,399
**10,789**
10,484
**25,687**
28,439
**24,573**
75,498
**40,508**
**65,081**
75,498
0| |---|---| The 2021 Utilities costs for St Mary's contains a one off Cr of £40,508 relating to the resolution of outstanding liabilities to Scottish Power. As at 31 December 2020, St Mary's recorded an outstanding liability to Scottissh Power of £40,508. During 2021 this liability was resolved. The 2021 utilities cost removes the liablity seen at the end of 2020, and the net credit in 2021 is the reversal of that liability offset by actual spend in 2021. In 2021, St Anne's spent £11,057, of which £1,922 was spent on utilities, £1,004 on the Churchyard, £3,884 on Insurance and £4,247 on Buildings. ## **Note 13: Merger Accounting** On the 1st of July 2021, the parochial church council of the ecclesiastical parish of St Mary's Moseley (charity number 1132268) merged with the parochial church council of the ecclesiastical parish of St Anne's Moseley (unregistered). Neither party is seen to be the acquirer or aquiree by either of the governing bodies or management and there is no significant change in the class of beneficiaries as a result of the combination. The combination has been permitted by appropriate authorities. The Pastoral Scheme affecting this benefice was made by the Commissioners on 30 June 2021 and came into effect on 1 July 2021. Based on this assessment, merger accounting has been applied to this combination. ## **Analysis of principal SoFA components for year ending 31st December 2021** **----- Start of picture text -----**
St Anne's Church St Mary's Church Parish of Moseley Parish of Moseley
£ to 30th June 2021 to 30th June 2021 from 1st July 2021 FY 2021
Total Income 113,846 99,437 124,510 337,793
Total Expenditure (22,958) (66,503) (166,144) - 255,606
Net income/expenditure 90,888 32,934 (41,634) 82,187
Other gains/losses 31,840 114,586 144,451 290,877
Net movement in funds 122,728 147,520 102,817 373,064
**----- End of picture text -----**
## **Analysis of principal SoFA components for the year ending 31st December 2020** |£
Total Income
Total Expenditure
Net income/expenditure
Other gains/losses
Net movement in funds|St Anne's Church
to 31st December
2020
St Mary's Church
to 31st December
2020
Combined total to
31st December
2020
38,337
260,027
298,364
53,367
264,639
318,006
(15,030)
(4,611)
(19,641)
(57,624)
65,332
7,708
(72,654)
60,720
(11,934)| |---|---| Note: In 2020, SMC recorded a net income of £8762. This included net receipts from SAC of £13,375 which has been removed from the above disclosure for consistency with 2021, leaving a loss of £4611 for 2020 after rounding. SAC in the same period recorded a net loss of £28,404. This included net payments to SMC of £13,374 for services provided. For the above disclosure, this amount has been added back to show income and expenditure on a like for like basis with 2021 disclosures ||St Anne's Church|St Mary's Church|Combined total at| |---|---|---|---| |Analysis of net assets at 30th June 2021|at 30th June 2021|at 30th June 2021|30th June 2021| |Net Assets|399,545|2,758,144|3,157,689| |Represented by:|||| |Unrestricted funds|399,545|2,669,502|3,069,047| |Restricted funds|-|88,642|88,642| The parish of St Mary's had, at the time of combination, restricted funds of £88,642, which were principally relating to the restoration of the organ at St Mary's Church. All other funds previously classified as unrestricted in both parent charities have continued to be classified as unrestricted designated funds in the combined entity. ## **Parish of Moseley, 2021 Accounts** ## **Statement of Financial Activities** |**Note**
**Income and Endowments from:**
**Donations**
2
**Charitable activities**
2
**Other trading activities**
2
**Investments**
2
**Total**
**Expenditure on:**
**Raising funds**
3
**Charitable activities**
3
**Total**
**Net income/(expenditure) before**
**investment gains**
**Net gains on investments**
5
**Net income**
**Transfers between funds**
8
**Net movement in funds**
**Total funds at 1st January**
**Total funds at 31st December**
8|**Unrestricted**
**Unrestricted**
**General**
**Designated**
**Restricted**
**Endowment**
**Funds**
**Funds**
**Funds**
**Funds**
**2021**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
77,792 100,000
- -**177,792 95,066**
2,829 - 5,174
-**8,004 76,830**
16,485-
--**16,485 17,776**
120,710 14,801 -
-**135,511 108,693**
217,817 114,801 5,174
-**337,793 298,364**
- -
--**- -**
255,380 - 226
-**255,606 318,006**
255,380
- 226
-**255,606 318,006**
(37,563) 114,801 4,948
-**82,187 (19,641)**
- 290,877
--**290,877 7,708**
(37,563)
405,678 4,948
-**373,064 (11,934)**
194,970 (194,970)
- -**- -**
157,408 210,708 4,948 -
**373,064 (11,934)**
113,834
2,685,862 87,753 -
**2,887,449 2,899,383**
**271,242 2,896,570 92,701 - 3,260,513 2,887,449**
**TOTAL FUNDS**| |---|---| ## **Parish of Moseley, 2021 Accounts** ## **Balance Sheet at 31st December 2021** |**Note**
**Fixed Assets:**
Tangible - Investment
4
Tangible - Operational
4
IT
Investments
5
**Current Assets:**
Debtors
6
Short term deposits
Cash at bank and in hand
**Current Liabilities**
Creditors
7
**Net Current Assets**
**Total Net Assets**
**Represented by parish funds:**
8
Unrestricted – general
Unrestricted – designated
Restricted
Endowment|**2021**
**2020**
**£**
**£**
**720,000 720,000**
**80,000 80,000**
**- -**
**2,272,906 1,982,029**
**3,072,906 2,782,029**
**26,398 59,198**
**130 130**
**179,638 117,121**
**206,166 176,449**
**18,559 71,029**
**187,607 105,421**
**3,260,513 2,887,449**
**271,242 113,834**
**2,896,570 2,685,862**
**92,701 87,753**
**- -**
**3,260,513 2,887,449**| |---|---| The notes of pages 4 to 9 form part of these financial statements. The financial statements were approved by the PCC on 18th Apri 2022 and signed on its behalf by: **The Revd Duncan Strathie Vicar of Moseley** ## **1. Principal Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the Church Accounting Regulations 2006 in accordance with the current Statement of Recommended Practice, Accounting and Reporting by Charities and applicable accounting standard FRS102. The financial statements have been prepared under the historical cost convention except for investment assets, which are included at fair valuation. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. Following transition to FRS102 for the first time, all the accounting policies have been aligned with the new accounting standard and where these have resulted in a material change to the amounts, classification or presentation within the financial statements as at the date of transition then a transitional adjustment has been made. The principal accounting policies and estimation techniques are as follows: ## **Funds** Funds over which the PCC’s control is limited by statue or the terms of a trust deed, or which are restricted in their use have been defined as “restricted funds”. Funds which are controlled by the PCC and over which there are essentially no restrictions as to their use have been defined as “unrestricted funds”. Designated funds are unrestricted funds that have been set aside by the PCC for purposes designated by PCC policy. Such designations may be set aside from time to time according to policy decisions. _Endowment Funds_ are funds, the capital of which must be retained either permanently or at the PCC’s discretion; the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place. _Restricted Funds_ comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor, and (b) revenue donations or grants for a specific PCC activity intended by the donor. _Unrestricted Funds_ are income funds which are to be spent on the PCC’s general purposes. _Designated funds_ are general funds set aside by the PCC for use in the future. Designated funds remain unrestricted and the PCC will move any surplus to other general funds. ## **Income** All income is included in the Statement of Financial Activities when the PCC is legally entitled to them as income or capital respectively, ultimate receipt is probable and the amount to be recognized can be quantified with reasonable accuracy. Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the income to which they relate is received. Grants received which are subject to pre conditions for entitlements or use specified by the donor which have not been met at the yearend are included in creditors to be carried forward to the following year. Dividends and rents are accounted for when declared receivable, interest as and when accrued by the payer. All income is accounted for gross. ## **Expenditure** Liabilities are recognized as soon as there is a legal or constructive obligation committing the PCC to pay out resources. Expenditure is included on an accruals basis under the following headings; all costs are allocated under a specific category: ## _Costs of raising funds_ These are the costs associated with the PCC’s fundraising activities. ## _Charitable expenditure_ Charitable expenditure is analysed between ministry and mission expenditure. Ministry expenditure includes the direct costs of running the church such as the diocesan parish share, church building and service costs. The diocesan parish share expected to be paid over is accounted for when due. Mission expenditure includes mission giving and donations, outreach in the community activities, children's work cost and associated staff costs. Support costs consist of central management, administration and governance. These are costs which are directly attributable to a specific charitable activity. Grants and donations are accounted for when paid over or when awarded. Expenditure is accounted for gross. ## **Tangible fixed assets and depreciation** Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the church’s inventory, which can be inspected (at any reasonable time). There is insufficient cost information available and therefore such assets are not valued in the financial statements. So all such expenditure has been written off when incurred. The properties the PCC owns comprise of 25, 25A, 25B, 27, 29 & 31, 31A & 31B St Mary's Row. During 2015 in line with the revised Charities accounting requirements (FRS 102) properties have been split Investment and Operation on the Balance Sheet. Investment Properties were revalued by Fishers Property & Lettings Management in September 2015. This valuation is reflected in the Balance Sheet. Operational Properties were not revalued so a high level estimate has been included. Depreciation is not provided on these properties as any provision (annual or cumulative) would not be material, due to the very long expected remaining useful life and because it’s expected residual value is not materially less than its carrying value. The PCC has a policy of regular structural inspection, repair and maintenance and the property is unlikely to deteriorate or suffer from obsolesce. Equipment used within the church premises is depreciated on a straight-line basis over four years. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. There are no such assets at this time. ## **Financial instruments** The PCC has elected to apply the provision of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments” of FRS102 in full to all of its financial instruments. Debtors which are receivable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Debtors are subsequently measure at amortised cost being the transaction price less any amounts settled and any impairment losses. Creditor’s payable within 1 year and which do not constitute a financing transaction are initially measured at the transaction price. Creditors are subsequently measure at amortised cost being the transaction price less any amounts settled. |**2. Income**
**Donations**
Free Will Offering (Inc Gift Aid)
Legacies and Donations
**Charitable Activities**
Churchyard Project
Christmas Day Together
Childrens' Fund
Music
Urban Fund
Pew Bibles
Choristers' Fund
Organ
Social & Fundraising Events
**Other Trading Activities**
Lettings
Hall Hire
less: expenses
Other Income
Net fees for weddings and funerals
**Investments**
Bank interest & dividends
Property rentals
less: expenses
Solar Panels' Generation
**Total Income**|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
76,173
76,173
101,619 - 101,619
**177,792**
**- 177,792**
- - -
- 400 400
- - -
- - -
- - -
- - -
- 2,000 2,000
- 2,774 2,774
2,829 - 2,829
**2,829 5,174 8,004**
403 - 403
12,246 - 12,246
(9,807) - (9,807)
8,133
- 8,133
5,511 - 5,511
**16,485**
**- 16,485**
72,707 - 72,707
61,876 - 61,876
(3,223) - (3,223)
4,153 - 4,153
**135,511**
**- 135,511**
**332,618 5,174 337,793**
0|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
66,508 - 66,508
28,557 - 28,557
**95,066**
**- 95,066**
- - -
- 310 310
- - -
- 500 500
- - -
- - -
- 75,961 75,961
59
- 59
**59 76,771 76,830**
300
- 300
12,438
- 12,438
(9,658)
- (9,658)
9,559
- 9,559
5,138
- 5,138
**17,777**
**- 17,777**
70,913
- 70,913
50,302
- 50,302
(16,069)
- (16,069)
3,546
- 3,546
**108,693**
**- 108,693**
**221,594 76,771 298,365**
0| |---|---|---| |**3. Expenditure**
**Expenditure on Fundraising:**
**Charitable Expenditure:**
**_Resourcing Ministry_**
Clergy Expenses
Associate Vicar Stipend
Church Buildings and Yard- See Note 12
Music, Organ and Choir
Altar items
Flower Guild
Other Church Activities
Pew Bibles
Common Fund to Diocese
Support for resourcing ministry
**_Resourcing Mission_**
Christmas Day Together
Urban Fund
Children's Work
Charitable Giving
Support for resourcing ministry
**Total Expenditure**
**Analysis of Support Costs**
Parish Office
Other Costs|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
0
0
0
6,756 - 6,756
- - -
24,573 - 24,573
11,934 - 11,934
266 - 266
(150) - (150)
1,481 - 1,481
- - -
148,909 - 148,909
31,465
- 31,465
**225,234**
**- 225,234**
- 226 226
- - -
19,260 - 19,260
7,389 - 7,389
3,496
- 3,496
**30,146 226 30,372**
**255,380 226 255,606**
**Unrestricted**
**Restricted**
**TOTAL**
**General**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
33,803 - 33,803
1,158 - 1,158
**34,961**
**- 34,961**|**Unrestricted**
**Restricted**
**TOTAL**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
0
0
0
8,696
- 8,696
- - -
75,497
- 75,497
9,490 500 9,990
- - -
800
- 800
1,297
- 1,297
- - -
160,749
- 160,749
30,733
- 30,733
**287,263 500 287,763**
- 223 223
- - -
18,208
- 18,208
8,398
- 8,398
3,415
- 3,415
**30,020 223 30,243**
**317,283 723 318,006**
**Unrestricted**
**Restricted**
**TOTAL**
**General Funds**
**Funds**
**2020**
**£**
**£**
**£**
31,585
- 31,585
2,563
- 2,563
**34,148**
**- 34,148**| |---|---|---| |**4. Tangible Fixed Assets**
**Cost/valuation**
At 1 January 2021
Additions
Disposals
**At 31 December 2021**
**Accumulated depreciation**
At 1 January 2021
Charge for the year
Disposals
**At 31 December 2021**
**Net book value**
**At 31 December 2021**
At 31 December 2020
**5. Investments**
M&G Charifunds Equities Investment Fund
CCLA Property Fund
CCLA Investment Fund
**6. Debtors and Prepayments**
**Receivable within one year:**
Gift Aid Recoverable
British Gas Feed In Tarif
Rent
St Anne's Hall
Prepayments
Other Debtors
**7. Creditors and Deferred Income**
**Amounts falling due within one year:**
Utilities
Charitable Giving
Salaries
Common Fund
Curate Rent
Rental Costs
Deferred Rent
Church maintenance
Other Creditors
**8. Movements in Funds**
**Endowment Funds**
**Restricted Funds**
Churchyard Fund
Bell Fund
Fabric Fund
Christmas Day Together Fund
Childrens Fund
Pew Bibles
Music Fund
Choristers' Fund
Organ Fund
These properties comprise of 25, 25A, 25B, 27, 29 & 31,
and church used buildings. The properties were last rev|**Investment**
**Properties**
**Operational**
**Properties**
**IT Equipment**
**Total**
**£**
**£**
**£**
**£**
720,000 80,000 2,578**802,578**
-- -**-**
- - -**-**
**720,000 80,000 2,578 802,578**
-
- 2,578**2,578**
- -
**-**
- - -
**-**
**- - 2,578 2,578**
**720,000 80,000**
**- 800,000**
**720,000 80,000**
**- 800,000**
**As at 1 January**
**2021**
**Purchases**
**Disposals**
**Change in**
**market value**
**As at 31**
**December**
**2021**
**£**
**£**
**£**
**£**
**£**
**274,514**
**0**
**0**
36,726
**311,240**
**393,721**
0
0
63,225
**456,946**
**1,313,794**
0
0
190,926
**1,504,720**
**1,982,029**
0
0
290,877
**2,272,906**
-
-
**2021**
2020
**£**
£
7,453
44,265
7,699
3,546
1,610
1,417
4,505
3,516
5,051
6,337
80
117
**26,398**
**59,198**
0
-
**2021**
2020
**£**
£
0
40,508
6,367
500
3,619
5,050
0
8,857
5,500
3,750
0
2,655
575
6,568
1,068
0
1,430
3,141
**18,559**
**71,029**
0
0
**01-Jan-21**
**Income**
**Expenditure**
**Capital**
**movements**
**Transfers**
**31-Dec-21**
**£**
**£**
**£**
**£**
**£**
**£**
0
0
0
0
0
**0**
0
0
0
0
0
**0**
0
0
0
0
0
**0**
0
0
0
0
0
**0**
0
0
0
0
0
0
**0**
2,000
0
0
0
0
**2,000**
4,328
0
0
0
0
**4,328**
3,222
400
(226)
0
0
**3,396**
2,035
0
0
0
0
**2,035**
206
0
0
0
0
**206**
0
0
0
0
0
**0**
0
2,000
0
0
0
**2,000**
75,961
2,774
0
0
0
**78,735**
87,753
5,174
(226)
0
0
**92,701**
0
31A & 31B St Mary's Row. These properties include a combination of residential, commercial
alued in 2015.| |---|---| |**Designated Funds**
Church Ball Fundraising
Underhill Bequest Fund
St Anne's Piggott Fund
St Mary's Row Properties
IT Equipment
Investment Growth Fund
Agreed Improvements Fund
Staffing Developments Fund
Vision 13 Fund
Premises Fund
Contingency Fund
**Unrestricted funds**
General
**Total Funds**|5,172
0
0
0
0
**5,172**
0
100,000
0
0
0
**100,000**
275,027
14,801
0
36,726
(36,726)
**289,828**
800,000
0
0
0
0
**800,000**
0
0
0
0
0
**0**
(0)
0
0
254,151
(254,151)
**(0)**
42,027
0
0
0
0
**42,027**
400,000
0
0
0
0
**400,000**
998,636
0
0
0
(4,093)
**994,543**
40,000
0
0
0
100,000
**140,000**
125,000
0
0
0
0
**125,000**
2,685,862
114,801
0
290,877
(194,970)
**2,896,570**
0
113,834
217,817
(255,380)
0
194,970
**271,242**
0
**2,887,449**
**337,793**
**(255,606)**
**290,877**
**0**
**3,260,513**| |---|---| Note that, for the purposes of the 2021 accounts, all funds which were treated as designated in the separate parishes of St Anne's and St. Mary's have continued to be treated as designatd in the merged parish. Of the transfers into the parish's general fund, £36,726 was trasnferred from the St Anne's Piggott Fund, and £158,244 from the Investment Growth Fund. **Churchyard Fund** . Church Yard Heritage project income funded by the National Lottery Heritage Fund. **Bell Fund** . During 2015 a restricted £2,000 donation was received toward the ongoing upkeep of the bells from the Trust. **Fabric Fund.** This fund resulted from an appeal and is restricted for re-ordering of the Nave Altar and Chancel. **Christmas Day Together Fund** . This annual event has a specific fund for its income and expenditure. **Children's & Youth Fund** . During 2017 the trustees of the Ballance Trust provided £2,035 toward Children and Youth work **Pew Bibles** . During 2016 the trustees of the Ballance Trust provided £2,000 for the purchase of Pew Bibles. **Music Fund** . This is made up of donations towards the provision of music at the church by the Friends of St. Mary's Music and Choirs. **Choristers' Fund:** A donation of £2000 from the Ouseley Trust in 2021 to fund scholarships for choristers of the parish **Organ Fund:** These are funds specifically raised to refurbish the organ in St Mary's **Church Ball Fundraising:** Funds raised in support of the annual church ball at St Anne's **Underhill Bequest Fund:** 2021 bequest from the Underhill Estate **Piggott Fund:** Funds for support of the running of St Anne's church **St Mary's Row Properties.** See Note 4. **Investment Growth Fund.** Assumed on investments. This is significantly less that recent returns but returns can be volatile. **Agreed Improvements Fund.** Sufficient funding to provide for the remaining Church Yard Project, altar frontals and £20,050 bequest received in 2018 **Staffing Developments Fund** . To provide medium/long term funding for staff salaries once or if funding from investments reduces e.g. by reordering the church **Vision 13 Fund.** Reserve £1m to fund Vision 13 costs **Premises Fund.** Provide funds for improvements to the church and other PCC premises **Contingency Fund.** Hold in reserves the equivalent of approximately 6 months general running costs for unforeseen events. **General Fund.** Provide a general reserve to provide deterioration in finance, one off costs and cash flow ## **8a. Fund Transfers** The following highlights transfers between funds and there reason |**Redistribution of Investment Growth**
**Other Changes**
Tangible fixed assets
Investments
Debtors due within one year
Debtors due outside one year
Short term deposits
Cash at bank
Creditors due within one year
Creditors due outside one year
**9. Analysis of Net Assets by Fund**|**General Funds**
**Investment Fund Other Funds**
check
Top up of General Fund - Investment G
154,151
(154,151)
-
Top up of General Fund - St Anne's Pig
36,726
(36,726)
Top up of Premises Fund
(100,000)
100,000
-
Fund Reordering costs
4,093
(4,093)
-
**Total**
**194,970**
**(290,877)**
**95,907**
-
-
-
**Total**
Total
**2021**
2020
**£**
**£**
**£**
**£**
**£**
£
0
800,000
0
0
**800,000**
800,000
0
176,336
2,096,570
0
0
**2,272,906**
1,982,029
0
26,398
0
0
0
**26,398**
59,198
0
0
0
0
0
**0**
0
130
0
0
0
**130**
130
0
86,937
0
92,701
0
**179,638**
117,121
0
(18,559)
0
0
0
**(18,559)**
(71,029)
0
0
0
0
0
**0**
0
**271,242**
**2,896,570**
**92,701**
**0**
**3,260,513**
2,887,449
-
0
-
-
-
0
-
**Restricted Fund**
**Endowment**
**Fund**
**Unrestricted**
**General Funds**
**Unrestricted**
**Designated**
**Funds**| |---|---| ## **10. Related Party Transactions** The PCC has related charities for which some PCC Trustees are also Trustees. The following cash transactions and closing balances are included in the accounts:- |**Related Party**
Flower Guild
**Total**|**Cash In**
**Cash Out**
**Owed**
**Owing**
**£**
**£**
**£**
**£**
0
650
0
0
**0**
**650**
**0**
**0**| |---|---| During 2021, there were no related party transactions with The Friends of St Mary's Choirs & Music or with the Organ Renovation Fund. No member of the PCC was paid during the year. A small immaterial portion of the expenses paid to the incumbent may have related to his service as chairman of the PCC. Some immaterial reimbursements for general church activities were paid to some PCC members or persons closely connected to them. |**11. Staff costs**
Wages and salaries
Social security costs
Pension contributions|**2021**
2020
**£**
£
65,148
61,047
0
0
688
684
**65,836**
61,731| |---|---| During the year the PCC employed a Director of Music, Site Services Manager, a Benefice Support Manager (job share) and Intergenerational Ministry Co-ordinator. In line with legislative requirements the PCC introduced a Workplace Pension Scheme from September 2016. |**12. Church Buildings and Yard**
St Anne's Utilities, Insurance and Maintenace
St Mary's Yard
St Mary's Utilities
St Mary's Insurance
St Mary's Building Works, Repairs & Cleaning
Add back: one off gain from Scottish Power settlement|**2021**
2020
**£**
£
**11,057**
11,404
**2,305**
6,772
**(25,264)**
18,399
**10,789**
10,484
**25,687**
28,439
**24,573**
75,498
**40,508**
**65,081**
75,498
0| |---|---| The 2021 Utilities costs for St Mary's contains a one off Cr of £40,508 relating to the resolution of outstanding liabilities to Scottish Power. As at 31 December 2020, St Mary's recorded an outstanding liability to Scottissh Power of £40,508. During 2021 this liability was resolved. The 2021 utilities cost removes the liablity seen at the end of 2020, and the net credit in 2021 is the reversal of that liability offset by actual spend in 2021. In 2021, St Anne's spent £11,057, of which £1,922 was spent on utilities, £1,004 on the Churchyard, £3,884 on Insurance and £4,247 on Buildings. ## **Note 13: Merger Accounting** On the 1st of July 2021, the parochial church council of the ecclesiastical parish of St Mary's Moseley (charity number 1132268) merged with the parochial church council of the ecclesiastical parish of St Anne's Moseley (unregistered). Neither party is seen to be the acquirer or aquiree by either of the governing bodies or management and there is no significant change in the class of beneficiaries as a result of the combination. The combination has been permitted by appropriate authorities. The Pastoral Scheme affecting this benefice was made by the Commissioners on 30 June 2021 and came into effect on 1 July 2021. Based on this assessment, merger accounting has been applied to this combination. ## **Analysis of principal SoFA components for year ending 31st December 2021** **----- Start of picture text -----**
St Anne's Church St Mary's Church Parish of Moseley Parish of Moseley
£ to 30th June 2021 to 30th June 2021 from 1st July 2021 FY 2021
Total Income 113,846 99,437 124,510 337,793
Total Expenditure (22,958) (66,503) (166,144) - 255,606
Net income/expenditure 90,888 32,934 (41,634) 82,187
Other gains/losses 31,840 114,586 144,451 290,877
Net movement in funds 122,728 147,520 102,817 373,064
**----- End of picture text -----**
## **Analysis of principal SoFA components for the year ending 31st December 2020** |£
Total Income
Total Expenditure
Net income/expenditure
Other gains/losses
Net movement in funds|St Anne's Church
to 31st December
2020
St Mary's Church
to 31st December
2020
Combined total to
31st December
2020
38,337
260,027
298,364
53,367
264,639
318,006
(15,030)
(4,611)
(19,641)
(57,624)
65,332
7,708
(72,654)
60,720
(11,934)| |---|---| Note: In 2020, SMC recorded a net income of £8762. This included net receipts from SAC of £13,375 which has been removed from the above disclosure for consistency with 2021, leaving a loss of £4611 for 2020 after rounding. SAC in the same period recorded a net loss of £28,404. This included net payments to SMC of £13,374 for services provided. For the above disclosure, this amount has been added back to show income and expenditure on a like for like basis with 2021 disclosures ||St Anne's Church|St Mary's Church|Combined total at| |---|---|---|---| |Analysis of net assets at 30th June 2021|at 30th June 2021|at 30th June 2021|30th June 2021| |Net Assets|399,545|2,758,144|3,157,689| |Represented by:|||| |Unrestricted funds|399,545|2,669,502|3,069,047| |Restricted funds|-|88,642|88,642| The parish of St Mary's had, at the time of combination, restricted funds of £88,642, which were principally relating to the restoration of the organ at St Mary's Church. All other funds previously classified as unrestricted in both parent charities have continued to be classified as unrestricted designated funds in the combined entity. Independent examlnerfs report to Ihe Trustees ol The Parlsh of Moseley. Parochlal Church Coundl I report to the trustees on my examination ol ihe •ccounts ol ihe Pafi5h of Moseley, Parochial Church Council lor the year ended 31. December 2021. Responslbllltles and basls of report A5 Ihe charity trustees ol the Trusl you are responsible lor the preparalion ol Ihe account5 Jn accordaThce with the requiremenis of the Charities Aci 20111.the Act'l I repori In respect ol my examination of ihe Trust's accounts rarried out undef section 145 of the 2011 Act and In carrying out my examinaiioTh I have lollowed 311 the applicable Dtrections given bv the Charity Commission under section 14515llbl of the Ad. Independent examlnerfs statement I have completed my examina1￿￿ I confirm ihat no material matters have come io my 4tteniion In connection with Ihe ex3miTharion Bivin8 me cause 10 believe ihat In any material rtspeci. l. accounting recofds were not kept in respèct ol the Trust as requlred by seaion 130 of the Act.. or 2, the accounts do not accord with those re¢ords.' or 3. the accounts do noi cornply with the applicable requiiemenis concerning the form and content of accoun1$ Set out in ihe Charities (Accounis and Reports) Re8ulatioThs 2W8 oiher than any ieouiremeni rhat the accounis give a'true and fair view which Is r￿1 a matter consldered a5 part ol an independent examination. I have no CO￿erm$ and have come a£ioss no other matters In conne¢tion with ihe examtnatiofi io which atteniloTh Should be drawn in this report in order to enable a proper undersiondin8 of the •ccountS to be reached. Sl8ned.. Name.. Dei&re A Mairison. MA ACA Chanered Accountant Address.. 22 April Croft. Moseley, 8irmin8ham. B13 9HP Date-.