REGISTERED CHARITY NUMBER: 1132443 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Reference and Adminlstrative Details Trustees, Report Independent Examiner's Report 10 Statement of Flnancial Actlvitles Statement of Flnanclal Position 12 Notes to the Financial Statemonts 13 to 22
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 Clergy The Reva Samuel Mann Churchwardens Joanna Hepper (resigned 28 April 20241 Rachel Davies (appointed 28 April 20241 Susan Kelly (resigned 11 May 2025) Susan Kynaston (appointed 11 May 2025) Deanery Synod Representatives Philip Burton (appointed 28 April 2024, resigned 1 July 2024) Susan Kelly (resigned 28 April 2024) Susan Kynaston (resigned 11 May 2025) Elinor Richardson (appointed 11 May 2025) Vyvyan Llewellyn (appointed 11 May 20251 Parochlal Church Council ("PCC") Members Joanna Hepper Iresigned 28 April 2024) Susan Kelly (resigned 11 May 20251 Rachel Davies {appointed 28 April 2024) Susan Kynaston (Church Treasurer) Philip Lapage (resigned 28 April 2024) Michael Vout (Secretary) Martha McKirdy (Safeguarding Officer, resigned 1 November 2024) Lindsay Vout Penny Walker (resigned 1 July 2024, re-appointed 11 May 2025) Vyvyan Lleweliyn (re-appointed 28 April 20241 lan Sawers (re-appointed 28 April 2024, resign&d 1 July 2024> Rachel Cama {appointed 28 April 2024) Peter Flint (appointed 28 April 20241 Lynne Addison (appointed 28 April 2024, resigned 11 May 2025) Nick Paterson {appoinled 28 April 20241 Pnilip Burton (appointed 28 April 2024, resigned 1 July 2024) Stephen Bristo, (appointed 11 May 2025) Sarah Doyle (appointed 11 May 2025} Abigail Grainger (appointed 11 May 2025} Elinor Richardson {appointed 11 May 2025) St Alkmund's Representative- Jane Thompson St Chad's Representative for St Alkmund's - Philip Lapage (resigned 28 April 2024) Lindsay Vout (appointed 28 April 2024) Safeguarding officer - Nina Tweddle (appointed 1 November 2024} Electoral roll officer- Susan Kelly Page 1
THE PAROCHIAL CHURCH COUNCIL OF THE1 ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 PRINCIPAL ADDRESS 1 St Chad's Terrace Shrewsbury Shropshire SY1 1JL REGISTERED CHARITY NUMBER 1132443 INDEPENDENT EXAMINER TCA {Shrewsburyl LLP Third Floor 21 St Mary's Street Shrewsbury Shropshire SY1 1ED BANKERS Lloyds Bank PLC 1 Pride Hill Shrewsbury Shropshire SY1 1DG Page 2
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2024. Objectives and Activities a. Policies and objectlves The Church Wardens and PCC co-operate with the incumbent to promote in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social, and ecumenical. St Chad's is a welcoming church providing opportunities for learning, reflection, worship and prayer. St Chad's is experiencing growth, numerically and spiritually, in all aspects of its life. The congregations across the Sunday services are diverse in age, ethnicity, and background. The Occasional offices (Weddings, Funerals. and Baptisms) continue to be an important part of church life, while festival and special services are well supported. Members of the clergy and the congregation also engage with the wider community at various non-st Chad's events to Show God's love and care for his people and to benefit the wider community. St Chad's has safeguarding and health and safety policies in Place to make the Church and Church events safe place. There is a dedicated safeguarding officer, prominent safeguardin9 information boards in the Church vestibule, and members of the PCC have undertaken safeguarding training. The Vicar, Churchwardens and Safeguarding Officer have received additional training at an advanced level. As a town centre church, St Chad's ministers to many visitors ta the town and Church, to those who live in the parish, those who attend church regularly but live outside the parish, the thousands of people who visit the Church as tourists, and to those who attend concerts and events such as graduations, school concerts and educational visits. St Chad's also has an active ministry to the homeless and rough-sleepers in the town centre, and actively supports the work of the Ark, a local char,ty that is dedicated to helping homeless and vulnerable people in our community to turn their lives around. When asked to do so, St Chad's hosts civic and military services. St Chad's has signed the Military Covenant and takes seriously the development of relationships with military services. The developiiig relationship with RAF Shawbury is an example of this. b. Activities for achleving objectlves The PCC is committed to enabling as many people as possible to worship at st Chad's and to become part of the St Chad's and wider church comrnunity. The services and worship put faith into practice through prayer and scripture, music, and sacrament. The Church usually holds three services each Sunday, weekly services of Morning Prayer, and in person and Zoom prayer meetings. St Chad's also hosts special services and events to welcome the wider community into the church to worship within the context of their lives. St Chad's welcomes other groups from both within and beyond the parish for worship and for visits lo the church. St Chad's plans activities and events lo engage with and love and serve the wider community and show, by example, what it means to be part of a loving Christian community INhen planning its activities for the year, the Vicar, Church Wardens, and PCC consider the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. Page 3
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 St Chad's enables ordinary people to live out their faith as part of our parish community through: worship and prayer learning about the Gospel developing their knowledge and trust in Jesus developing Christian fellowship through small group meetings and pilgrimages providing vocational training provision of pastora1 care outreach work with visitors, schools, and the elderly St Chad's maintains the fabric of the Church and other buildings in order to be able to achieve many of its objectives. c. Publlc beneflt The Trustees are aware of the Charity Commission's revised guidance on public benefit in the publication entitled "The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the charity. The PCC believes that supporting and promoting the work of St Chad's wlll help lo promote the pasloral, evangelistic, social, and ecumenical mission of the Church of England more effectively, within the community of Shrewsbury and in doing so benefiting the public by.. providing facilities for public worship, pastoral care, spiritual nurture and moral and intellectual development, both for its members and for anyone else who wishes to benefit from what Sl Chad's offers., promoting Christian values, and service, by members of Sl Chad's in and to their communities, to the benefit of individuals and society as a whole, providing financial and practical support to local, national and international charities and similar organisations., providing education and volunteering opportunities for young people, and opening the church to the wider public by providing a concert auditorium for choral, orchestral, org8n, and other recilals, and a space for local schools and organisation5 to hold their Christmas services during the annual Christmas Tree festival, including the annual RAF Shawbury Christmas Concert. Achievements and performance a. Revlew of actlvltles Worshi Pra er and Ex ressions of Faith Normal Church SeNices and events continued throughout 2024. The church holds three services each Sunday and. since Ihe arrival of Rev'd Sam as Vicar, daily Morning Prayer services. The Sunday congregations are growing, diverse communities drawn from across Shrewsbury and the surrounding area. St Chad's continues to donate to, raise funds for and collect clothing and food donations for Ukraine. the Food Bank and The Ark. and other local charities supporting the homeless and those in temporary accommodation, or accommodation with limited facilities. The Vicar and other members of the ministry team make regular visits to The Ark to offer pastoral support to its staff and clients. Daylighl, the St Chad's mission group established in late 2021, continues to grow and evolve It meets regularly to read and discuss the Gospel and different members, journeys offaith and to hear accounts from people facing 8 variety of day-to-day challenges, both locally and around the world. Daylight helps to remind St Chad's of ils inclusion in the global Christian community, calling tc mind the experience and plight of Christians around the world. Page 4
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 St Chad's hosted a successful 2024 Christmas Tree Festival which launched with a special service of carols, singing, and refreshments. Local business and organisations sponsored the trees, as St Chad's itself became a daily hub of activity during the Christmas period. Several schools held their Christmas concerts in the Church during the Christmas Tree Festival, and the local RAF Station held their main carol concert in the church, with close to 1,000 people in attendance, Local music groups also put on several Christmas concerts. The church was full for the 9 Lessons and Carols service and was full again for the Crib service on Christmas Eve, attended by many young families St Chad's also hosted the regular well supported Chrislmas Eve and Christmas Day Services. Baptisms, Weddings, and funeral services were held in the church throughout the year. In 2024 there were 6 baptisms (2023.. 3}, 2 wedding$12023'.31 and 17 funerals at St Chad's12023'. 31. St Chad's realises that these occasions are very important occasions for families and friep,ds and the Vicar, other clergy, and Church Wardens work hard lo engage with and support families, couples and the bereaved in the weeks and months surroL'nding such services. The electoral roll stands at 106 (2023.'1281 St Chad's continues to benefit from a rich musical tradition including the wonderful singing of the St Chad's choir, under the guidance of its Director of Music, Tony Pinel. The Assistant Director of Music, Richard Walker, arranges the very popular Friday concerts and the lunches that follow the concerts. The choir sings three out of every four weeks in term time, with a sung Eucharist in the morning and Choral Evensong in the afternoon. The service of Choral Evensong has enjoyed a real resurgence of congregation numbers, which reflects a national trend and is very gratifying for the musicians, Pastoral Care A team of pastoral care volunteers work, under the sUpervisOn of the Vicar and Churc,h Wardens, to support those in need and those who have requested care wittri. visits (including the taking of home communion) being made le the e,'derly and infirm al their homes or al care h.omes Prayers are said for those who have asked for them, and for tnose who are sick, bereaved and for those who have died. Prayers are included in the inlercessions and a prayer list is included in the weekly pew sheets. A box is provided in church where prayer requests can be left, to be included in the intercessions if needed, or to be prayed for by the Vicar during weekly Morning Prayer. The regular Friday concerts attract several residents of care horiies with their carers., and the lunches provided in the church hall after the concerts provide a very happy opportunity for socialising with the wider community and are a boon fof many elderly people living either by themselves or with partners and other family members who are requiring an increasing level of support. Following the challenging Winter of 2022-2023, when St Chad's responded to the Cost-of-Living crisis by registering as a Warm Space, St Chad's has continued to work ecumenically with local churches to support people facing challenges Mission and Outreach The Church building is normally open seven days per week between 8am and 4.30pm but Church members also meet outside of these hours for Morning Prayer, other prayer meetings and discussion groups. They also engage in activities to love and serve the wider community, for example. by sdpporting rough sleepers, either with just a morning cup of lea and a porridge pot or by supporting them to contact the local housing team to make arrangements for longer term accommodation and helping the individuals with their move to their new accommodation and by delivering Harvest Festival and other offerings to the Ark and to drop off collection points for the local Food Bank They also attend various Diocesan and Ecumenical meetings and support other community outreach aclivities. St Chad's places great importance on being a welcoming and inclusive church. Volunteer church stewards welcome thousands of visitors to the church each year. They talk about both the hislory of the beautrful building and about church activities and interests. Visitors are often invited to attend concerts, church events and services. There is also a media screen that displays an informative video loop about St Chad's. This runs Page 5
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 each day and covers periods when the stewards are not in attendance. Church services and other events and activities are publicised on the website and on other social media and the Parish Administrator In the church office responds to enquiries daily. St Chad's often hosts events for local schools and colleges. In 2024 it hosted graduation events for the Further Colleges Education Group 11 has also hosted several school services and events These events are important family events and there are always members of the congregation on hand to welcome attendee5 and provide any assistance that they might need. Many local and national musical groups held concerts at St Chad's in 2024. The Vicar, Churchwardens and their helpers welcomed performers and attendees and often engaged with them over the provision of refreshments during the interval, while the Vicar introauced each event. St Chad's welcomed thousands of people lo the Church during its 2024 Christmas Tree Feslival. The Christmas trees are sponsored by local businesses and many local schools and groups take advantage of the beautifully decorated church to stage Nativity and other concerts. Attendees are welcomed to the Church by members of the congregation and the church provided refreshments for some of the events which supplied good opportunities to engage with the visitors. The Church Hall is hired out to local groups for various activities, including youth groups, self-defence lessons, and many other groups It is also often hired out for breaks between rehearsals before concerts in the church, and for use by performers during concerts themselves. The hall also provides the base for the lunches that follow the weekly Friday concerts. Emergency food and vouchers for the homeless are available in the pastoral room for use on an ad hoc basis. A signposting table and board in the vestibule directs people in need to possible sources of assistance.. to food tables, to the Food Bank, to Age UK and Citizens Advice for help with revenue and benefit reviews and to other agencies for help with unexpected bills or breakdowns. St Chad's is always ready to provide support and welcome to those in need. St Chad's mission giving for 2024 amounted to £620 and comprised a £500 donation to the Ark and £120 of vouchers for food and personal care for local people in need. £100 of the cost of the vouchers was funded by grant received from the St Chad's and St Alkmund's charity to provide food for the local homeless community. hur In common with many other churches. St Chad's occupies a fine historic building that is beautiful bul expensive to maintain. Any building work needs to be in accordance with the Church building's Grade 1 listing. In February 2024 the PCC approved setting aside £10,OQO of the Church's own funds for a comprehensive repair of the leaking inner vestibule roof. The PCC is grateful to the Friends of St Chad's who have committed £50,000 to this project. A grant application was submitted to the National Lottery Heritage Fund in early 2025. A faculty has been granted for the project. In 2024 St Chad's installed the first phase of wi-fi in the church, enabling St Chad's to offer a more diverse range of activities and ministries. The Church continues ils routine maintenance of the Church, the Church Hall, and other buildings. Volunteer St Chad's is very reliant upon the many volunteers who assist in the day to day running of the church. These volunteers act as Church Stewards, servers, members of the choir that contributes so much to our services., members of the fabric team., members of the pastoral care team and as the sides persons who are on duty al the three Sunday services We are also reliant on our volunteer bookkeeper and Treasurer. A team of flower arrangers produce glorious floral displays which enhance our beautiful church. Special efforts are made for the major church services and during the Shrewsbury Flower Show. We receive many visitors during its opening days every August and provide a cool and welcoming space with refreshments, culminating in a special service of Choral Evensong with a floral theme. Page 6
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 b. Investment policy and performance St Chad's tangible freehold investment property comprises No 1 St Chad's Terrace and the Church Hall. Both properties were revalued in 2022 by applying indexation factors to the previous 2016 valuation. The valuations of both Pfoperties increased significantly. No 1 St Chad's Terrace was revalued at £621,819. The Church Hall was valued at £276,364. Both properties are subject to Covenants regarding the use of any proceeds from the sale of these properties. These properties are depreciated at 2 % per annum on a straight-line basis, giving rise to an annual depreciation charge of £17,963 per annum. St Chad's received a gross rent of £20,87012023, £21,000) from the assured short hold tenancies of No 1 St Chad's Terrace and the old St Chad's Cottage and from licences to use associaled garages and yard (which are owned by the Diocese of Lichfield but rented out by St Chad's). Financlal review a. Going concern The accounts show a loss of £18,010, after charging depreciation on No 1 St Chad's Terrace and the Church Hall. The pre-deprecation loss was £47. After making appropriate enquiries, the Trustees believe that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. b. R8s8rves pollcy Unrestricted liquid reserves on 31 December 2024 amounted to £64,153 12023.. £65,695) which meets the reserves policy to always hold a level of liquid reserves sufficient to meel three months, expenses1£58,003). The PCC keeps a close watch on its levels of income and expenditure to maintain and gTOW its reserves so that it can achieve its plans and objectives and flourish. Structure, governance and management a. Constitution The PCC which is a reglstered charity number 1132443 is a corporate body established by Ihe Church of England wilh perpetual succession and has a legal existence apart from the members who compose it. The PCC operates under the Parochial Church Council Powers Measure (1956} as amended, and the Church Representation Rules 2022. The members of the PCC are the trustees of the charity. The Vicar and Churchwardens are responsible with the PCC for the allocation of expenditure out of the income of the church. The Vicar arid Churchwardens have no power to sell the freehold estate in the church. The PCC is not the body with economic or financial benefit from the sale of Sl Chad's church or vicarage. For this reason, neither property is included in the attached financial statemen.ts as a tangible fixed asset of St Chad's. Possession ofthe church is vested in the Vicar and Churchwardensjointly. Possession ofthe Vicarage is vested in the Vicar in accordance with section 1,1.1 of the Church Property Measure, 2018 Moveable furniture and ornaments are in the legal ownership ofthe Vicar and Churchwardens for the benefit of the Pcb. Care, maintenance and insurance of the fabric of the churc, its goods and ornaments and other structures are the responsibility of the PCC. The freeholds and cash deposited with the Central Board of Finance ofthe Church of England are held, either as trustee of endowments or for assets of restricted funds or nominee of the PCC for unrestricted assets, by the Lichfield Diocesan Trust, st Mary's House, The Close, Lichfield, staffordshire, WS13 7LD. Page 7
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 b. Method of appolntment or electlon of Trustees The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election lo the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent, The full PCC met 7 times during the year. There is a Standing Committee of the PCC which is delegated to discuss tasks and agree outcomes. The Standing Committee is fully responsible to the PCC and reports back regularly with minutes of their deliberations being received by the full PCC and discussed, as necessary. Policles adopted for the Induction and trainlng of Trustees The Trustees provide training and advice to newly appointed Trustees. All Trustees have access to the information and support provided by the Diocese of Lichfield and individual Trustees periodically attend meetings to meet trustees of similar sized churches to discuss challenges and experience and share best practice. d. Organlsatlonal structure and declslon maklng Within the Diocese of Lichfield of the Church of England and the Shrewsbury and Wrekin Deanery, the parish is organised in the conventional way with responsibility currently vested in the Vicar, Churchwardens, and the pcc. e. Rlsk management The PCC has examined the major strategic, business, and operational risks which the charity faces and confirms that systems have been established to manage the charity's exposure to the rnajof risks identified. Plans for future perlods The church has intentionally focused, and will continue, for the foreseeable future, to focus on clarifying its mission objectives, strengthening administrative and organisational structures, and developing long term stewardship (fundraising) goals, objectives, and strategies. This is likely be process that lasls for several years, laying groundwork for future endeavours, not least of which is long term financial stability and missional success. We have begun to redevelop education programming for adults and children and hope to expand on existing opportunities as well as creating new programmes and resources for people of all ages to grow in their Christian faith and commitment. The church continues to develop partnerships within our Communiiy working with the RAF, with Shrewsbury Town Council, The Ark, ano local school and Churches. We also support internationa5 projects. A member of our congregation hosls monthly lunches to raise funds for a charity that provides medical support to Palestine. The refurbishment of the Inner Vestibule roof will be a major project in 2025. Safeguarding PCC members have undertaken safeguarding training and they believe that they have fulfilled their duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops, guidance on safeguarding children and vulnerable adults). Related Parties Donations from related parties (PCC members and other Trustees) amounted to £13,80612023'. £17,238). Page 8
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 statement of the Parochial Church Council's responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP, make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trust888 are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Acl 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed They are also responsibl8 for safeguarding the assets of the charity and hence for taking reasonatsle steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial informalion included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This report was approved by the Trustees on 31 May 2025 arid signed on their behalf by.. Susan Kynaston Rachel Davles Trustee Trustee Page 9
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY Independent examinerfs report to the trustees of The Parochial Church Council of the Ecclesiastical Parish of St Chad with St Mary, Shrewsbury I report to the charity trustees on my examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of St Chad with St Mary, Shrewsbury (the Trust) for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1.the Ac+'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145{5){bl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act,. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning ihe fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independenl examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of Ihe accounts to be reached. C Moelwyn-williams Bsc FCA TCA {Shrewsbury} LLP Third Floor 21 St Mary's Street Shrewsbury Shropshire SY1 1ED Date.. Page 10
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWS8URY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted Endowment funds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 96,280 1,495 97,775 102,370 Church activities 19,427 19,427 22,058 Income from activities for generating funds 75,928 75,928 75,255 Investment income 20,870 20,870 21,000 Total 212,505 1,495 214,000 220,683 EXPENDITURE ON Aclivilies for generaling funds 6 32,249 32,249 29,605 Church activities 194,234 5,527 199,761 198.662 Total 226 483 5,527 232,010 228,267 NET INCOMEI(EXPENOITURE) 113,978) 1,495 15,527> (18,010) {7,584) RECONCILIATION OF FUNDS Total funds brought forward 675,078 270,837 945.915 953,499 TOTAL FUNDS CARRIED FORWARD 661.100 1,495 265,310 927,905 945,915 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page11
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Tangible assets 12 862,257 880,220 CURRENT ASSETS Stocks Debtors Cash al bank 13 14 3,000 24,281 44,886 3,000 17,757 55,097 72,167 75,854 CREDITORS Amounts falling due within one year 15 {6,519) {10,1591 NET CURRENT ASSETS 65,648 65,695 TOTAL ASSETS LESS CURRENT LIABILITIES 927,905 945,915 NET ASSETS 927,905 945,915 FUNDS Unrestricted funds Restricted funds Endowment funds 661,100 1,495 265,310 675,078 270,837 TOTAL FUNDS 927,905 945,915 The financial statements were approvgd by the Board of Trustees and authorised for issue on .31...fft.4.2Q15,............. and were signed on its behalf by, Susan Kynaslon - stee Rachel Davies - Trustee The notes form part of these financial statements Page 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1D21 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ire,and' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows., the requirement of paragraph 3.17{dl', the requirements of paragraphs 11.42, 11.44, 11.45, 11,47, 11.48{alliii), 11.48{a)(iv), 11.48(bl and 11.48lc)', the requirements of paragraphs 12.26, 12.27, 12.29la), 12.29{bl and 12.29A', the requirement of paragraph 33.7. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocaled to activities on a basis consistent with the use of resources. Grants offered subject +0 conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from lax on its charitable activities, Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity Restriciions arise when specified by the donor or when funds are raised for particular restricted purposes. Tne eridowed fund relates specifically to the value of the Parish Hall and the only transactions that are treated as movements in the endowed funds are changes to its value such as annual depreciation and movements on revaluation. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 13 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - continued Pensions The charity contribules to NEST pensions for those employees enrolled in the NEST pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate Going concem The accounts have been prepared on a going concern basis. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. Debtors Tfade or other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Llabilities and Provlsions Liabilities are recognised when there is an obligation 81 the balance sheet date as a result of a past event, it IS Pfobable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provis ons are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of these amounts, discounted at the pre-tax discount rate Ihat reflecls the risks specific to the liability. The unwinding of the discount is recognised within interest payable and simi18r charges. Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlemenl value, DONATIONS AND LEGACIES 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Endowment funds Collections and donations Income lax recoverable on gift aid Legacies Grants Christian Stewardship 30,192 1,495 31,687 30,705 14,350 14,350 16,058 2,000 5,835 47,772 1,749 1,749 49,989 96,280 97,775 102,370 Page 14 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES - continued Grants received, included in the above, are as follows.. 2024 2023 Other grants 1,749 5,835 Grants receivable include grant income received from LPOW and The Diocese of Lichfield. (2023.. The Diocese of Lichfield, LPOW, Friends of St. Chad's and St Chad's and St Alkmund's Charity). INCOME FROM ACTIVITIES FOR GENERATING FUNDS 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Endowment funds Car park income Concert income Christmas tree festival 54,439 18,622 2,867 54,439 18,622 2,867 54,116 18,884 75,928 75,928 75,255 INVESTMENT INCOME 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Endowment funds Renls received 20,870 20,870 INCOME FROM CHURCH ACTIVITIES 2024 2023 Parish hall hire and refreshment sales Fees Hire of church Other 5,438 2,092 9,967 1,930 6,216 1.289 12,784 1,769 19,427 22,058 Page 15 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACTIVITIES FOR GENERATING FUNDS Costs of raising donations and legacies 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Endowment funds Staff costs Concert expenses Christmas tree festival 21,601 8,618 2,030 21,601 8,618 2,030 20,137 7,708 1,760 32,249 32,249 29,605 CHARITABLE ACTIVITIES COSTS Direct Costs {see note 81 Granl funding of activities Totals General 199 141 620 199,761 The grant funding of activities included a grant of £500 to The Shrewsbury Ark and £120 of food and toiletries vouchers for the homeless and vulnerable members of our community. (2023.. £100 of food vouchers for the local people in needl. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Wages and salaries Cost of church services Music and choir costs Organists fees Property rental costs Insurance Gas, electricity and water Office, phone & computer costs Parish share Clergy expenses Repairs and premises costs Other professional fees Other expenses Mission giving from Church resources Depreciation Interest payable, transaction fees and Similar charges 51,411 1,296 4,692 3,350 144 12,619 15,314 8,684 59,637 5,178 14,842 2,340 44,368 1.962 5,197 3,365 144 11,815 17,055 8,438 58,467 5,023 18,688 2,460 110 2,916 17,963 591 17,963 199,141 198 562 Page 16 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. 10. STAFF COSTS 2024 2023 Wages and salaries Other pension costs 71,767 1,245 63,427 1,078 73,012 64,505 The average monthly number of employees during the year was as follows.. 2024 io 2023 10 Tolal staff No employees received emoluments in excess of £60,000. The average headcount in 2024 as expressed as a full time equivalent is 2.5 (2023.. 2.5) COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Er,dowment fund funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 102,270 ioa 102,370 Church activities Parish Hall hire and refreshment sales Fees Hire of Church 6,216 1,289 12,784 6,216 1,289 12,784 Other 1,769 1,769 Income from activities for generating funds Investment income 75,255 75,255 21,000 Total 220,583 100 220,683 EXPENDITURE ON Activities for generating funds 29,605 29,605 Church activities General 193,035 100 5,527 198,662 Total 222,640 100 5,527 228,267 Page 17 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted Endowment fund funds fund Total funds NET INCOMEI(EXPENDITUREI (2,057) (5,527) 17,5841 RECONCILIATION OF FUNDS Total funds brought fOard 677,135 276,364 953,499 TOTAL FUNDS CARRIED FORWARD 675,078 270 837 945,915 12. TANGIBLE FIXED ASSETS Nc1SI Chad's Terrace Church Hall Totals COST OR VALUATION At 1 January 2024 and 31 December 2024 621,819 276,364 898,183 DEPRECIATION At 1 January 2024 Charge for year 12,436 12,436 5,527 5,527 17,963 17,963 At 31 December 2024 24,872 11,054 35,926 NET BOOK VALUE At 31 December 2024 596 947 265,310 862,257 At 31 December 2023 609,383 270 837 880,220 Cost or valuation at 31 December 2024 is represented by.. No1 St Chad's Terrace Church Hall Totals Valualion in 2021 Revaluation in 2022 450,000 171,819 200,000 76,364 650,000 248,183 621,819 276,364 898.183 The freehold property comprise5 St Chad's Terrace (Valuation £450,000 and Nel book value £609.383 and The Parish Hall (Valuation £200,000 and Net book value £270,837). The land and buildings were revalued in 2022 based on an indexation model. The previous revaluation was prepared on 1 April 2016. The PCC policy is to revalue the land and buildings every two to five years. Page 18 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 13. STOCKS 2024 2023 Stocks 3,000 3,000 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors 24,281 17,757 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 6,519 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unrestricted Restricted Endowment fund funds fund Fixed assets Current assets Ci'rrent liabilities 596,947 70,672 6,5191 265,310 862,257 72,167 6,519) 880,220 75,854 10,159) 1,495 661,100 1,495 265 310 927,905 945,915 17. MOVEMENT IN FUNDS Nel movement in funds At 31.12.24 At1,1.24 Unrestricted funds General fund 675,078 (13,978} 661,100 Restricted funds Raise our Roof 1,495 1,495 Endowment funds Parish Hall 270,837 (5.527) 265,310 TOTAL FUNDS 945,915 18,010) 927 905 Page19 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 17. MOVEMENT IN FUNDS- contlnued Nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 212,505 1226,483) 113,978) Restricted funds Raise our Roof 1,495 1,495 Endowment funds Parish Hall 15,5271 15,5271 TOTAL FUNDS 214,000 232,0101 18,010} Comparatives for movement In funds Net movement in funds At 31.12.23 At1.1.23 Unrestricted funds General fund 677,135 (2,057} 675,078 Endowment funds Parish Hall 276,364 15,5271 270,837 TOTAL FUNDS 953,499 7,5841 945,915 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 220,583 1222,640) (2,057) Restricted funds Mission Giving 100 {100) Endowment funds Parish Hall 15,5271 15,527> TOTAL FUNDS 220,683 228,2671 7,5841 Page 20 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 17. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as fo51ows'. Net movement in funds At 31.12.24 At 1.1.23 Unrestricted funds General fund 677,135 (16,035) 661,100 Restricted funds Raise our Roof 1,495 1,495 Endowment funds Parish Hall 276,364 (11,054) 265,310 TOTAL FUNDS 953,499 25,5941 927,905 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 433,088 {449,123) {16,035) Restricted funds Mission Giving Raise our Roof 100 1,495 {lOOJ 1,495 1,595 {100) 1,495 Endowment funds Parish Hall (11,054} (11,0541 TOTAL FUNDS 434,683 460,277> 25,594) The Mission Giving Fund includes a grant from St Chad's and St Alkmunds of £100 received in 2023 that was Ltsed to buy food vouchers for the local homeless people. This was spent in full in 2023. The 'Raise our Roof restricted fund relates to funding received for the repair and replacement of the roof over the inner vestibule The Parish Hall Fund relates to the value of the Parish Hall and the endowed fund movement relates to the depreciation charge on the hall. There is a policy to revalue the land and buildings, inclLJding the hall, every two io five years as stated in the fixed asset note and the balance of the endowed funds will therefore rise or fall based on those revaluations. The hall was revalued last financial year based on an indexation model and the gain was reflected in the rise in endowed funds {Last revaluation performed 31 December 2022) Page 21 continued...
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST CHAD WITH ST MARY SHREWSBURY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. EMPLOYEE BENEFIT OBLIGATIONS The charity operates 8 defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,245 {2023'. £1,078) Contributions totalling £nil12023.' £nill were payable to the fund al the balance sheet dale. 19. RELATED PARTY DISCLOSURES Donations were received in the year to 31 December 2024 from Trustees and Parochial Church Council members to the value of £13,806.12023'. £7,238) Page 22