Annual Report and Financial Statements of the Parochial Church Council of The Parish of St Jude's st For the year ended 31 December 2024 Registered Charity Number 1132485 Page I
DIOCESE OF LICHFIELD Come follow Christ in the footsteps of St Chad The Parochial Church Council of St Jude's st Trustees, Annual Report for the year ended 31 December 2024 Charity registration number 1132485 Ob'ectives and Activities The Parochial Church Council of Wolverhampton St Jude's Ithe PCCI has the responsibility of co-operating with the incumbent; however, the Parish is in vacancy at present, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelical, social and ecumenical. The PCC is also spiritually responsible for the maintenance of the church The PCC is comrnitted to enabling as many people as possible to worship at our church and to become part of our parish community at Wolverhampton St Jude's. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer, scripture, music and sacrament. Also, through non-sacramental activities of hospitality and fellowship we aim to reach non churched members of the community. Public Benefit The trustees of the Charity are aware of the Charity Comrnission's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Charity. The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of Wolverhampton St Jude's, it helps to prornote the whole mission of the Church (pastoral, evangelistic, Social and ecumenicall more effectively. within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by: Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers; and Promoting Christian values and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole. Achievements and Performance The Parochial Church Council of Wolverhampton 5t Jude (the PCCI being the main decision maker of the Parish of Wolverhampton St Jude eletted it'5 lay members at the Annual Parochial Church Meeting of 14th April 2024. The church of St Jude'5. Wolverhampton has been in vacancy i.e., without an incumbent since August 2023. The PCCS powers and duties are defined by legislation and can principally be found in the Parochial Church Councils (Powers) Measure 1956. Its members are clergy (until the previou5 incumbent'5 retirement in August 20231, churchwardens and other members on the Electoral Roll of Stjude's Church at the time of the APCM. The PCC is responsible, along with any incumbent, to promote the mission of God, pastoral. evangelical, social, and ecumenical in the Parish of Wolverhampton Stjude. The PCC is responsible for the finances of the Parish. It is ultimately responsible for the care and maintenance of all church buildings and their contents. The PCC is crucial in deciding & delivering the forms of Service used by the church. The PCC of Wolverhampton St Jude is a registered charity with the Charity Commission Inumber 11324851. Every member of the PCC 15 registered as a charity trustee and is aware of the Charity Commission's guidance on public benefit in the Advancement of Religion for the Public Benefit in providing facilities for public worship and promoting Christian value5 and service by church members in and to the communities in which they live to the Puge 2
benefit of both individuals and the wider society. All new PCC members receive The Essential Trustee Guide, issued by the Charity Commission and a copy of the financial procedures as approved by the PCC to ensure they are aware of the controls in place. The PCC takes their (Safeguarding) duty of care for the protection of the vulnerable in their church community seriously with Safeguarding being a standing item of PCC business with an appropriately experienced designated lay Parish Safeguarding Officer nd regularly reviewed parish safeguarding policy. PCC Activity during 2024. The PCC is comprised of seven ordinary members with the two Wardens & Parish Safeguarding Officer ex-officio members. (An eighth PCC was member was elected to post at the end of 2024 in order to facilitate the recruitment of the new incumbentl. The PCC met 12 times during 2024 and currently meets on the second Monday, monthly. Detailed minutes are produced for each PCC meeting, amended. and agreedl signed at the next meeting. The PCC has only one Deanery Synod representative since the APCM who is invited to attend the Deanery Synod every quarter and has contributed to the Diocesan Shaping for Mission project which appears to have lost rnomentum. Staff. There was a Lay Reader, John Welsby. who left in August 2024 and there is an Authorised Lay Minister, Amita Sudra. There are two Church Wardens, Pradip Sudra & Simon Fenner. The PCC employs paid staff - a part-time secretary, cleaner, and Verger. In 2024, there are weekly lunminutedl Management staff meetings comprising both Wardens, Lay Reader (until his departure) and Parish Secretary. Services. There is a Worship service every Sunday morning at 10-30 and is a mixture of Holy Communion, Morning Worship Iduring which Primary School age children leave the service after the first song to receive their own instruction) & Worship Together (Primary School age children included). Orders of Service and News Sheets are posted to people who feel unable to attend (mainly due to ill health). During our vacancy, the service scripture passages have been following the Church of England ICOE) lettionary closely. Previously Holy Communion was provided approximately twice a Month with the sacraments offered combined by intintture. Now the sacrament5 are offered as separate elements in accordance with Diocesan guidance. During our vacancy the PCC/ Wardens aim to provide a service of Holy Communion at least once a month though Holy Communion Services were only delivered on eight Sunday5 in 2024. Prayer Meetings. Prayer meetings take place every week on Saturday mornings, and every month on Wednesday evenings. They are attended by a con5i5tent few. Electoral Roll Membership and servi 5tat15tics {20243}. The Electoral Roll was steady compared to 2023 at 118. Usual Sunday Attendance in 2024 was 81 adults and 18 under 165. There were three baptisms, no confirmations. one wedding with no dedication5 after a civil ceremony. and six funerals. Children and Families Work. J Team during 10.30am Sunday Services - Primary school oged children. J team is our 'Sunday school, for primary school aged children. Numbers vary with some weeks having 20 children attending and an average of 13 children which has increased since the previous year. We have 3 good core team, with Mark, Linda and Temi leading the sessions and a committed group of helpers. Due to the needs of the group and safeguarding practice, three adults are needed each Sunday. Each week the Roots teaching materials are used which follow the lectionary plan so that they are learning about the same passage of scripture as the rest of the congregation. Poge 3
Schools work. The Church tries to maintain contact with three schools in the church's immediate vicinity (St Peter's Collegiate Academy, St Jude'5 Primary Academy and St Andrew's Church of England Primary School Inot in Parishl. There is no meaningful contact with two others within the Parish Iwolverhampton Girls, High School and Newbridge Preparatory School- both private schools). Since our vacancy the PCC has nominated PCC members to maintain contact with the previously mentioned three schools. All these schools have had classes of pupils visit St Jude's in the last year. Two (St Jude's Primary & St Peter's both with Chaplains) have had/ been involved with service5 at Jude's Church, Up until the Autumn terrn of 2024-25 the nominated PCC contact for at St Jude's Primary Academy had been leading/ contributing to fortnightly morning Iworshipl assemblies. Towards the end of the Summer term12023-241, it became increasingly 'awkward' for this arrangernent to be delivered in as satisfactory way. No direct input to St Jude's Primary Academy morning assemblies has taken place since September 2024. St Jude's PCC, as was the usual practice, bought bibles for distribution to the school leavers. However, arrangements could not satisfactorily be made for these bibles to be presented by any representative of St Jude's PCCI Church. so they were presented by the teaching staff. Carers & Toddlers. This meets weekly on Tuesday mornings (during School Term timel run by a regular group of (safeguarding trained) volunteer helpers. Guides, Brownies ond Roinbows. th Since the summer of 2016 St Jude's church and the 27 Wolverhampton 1st Jude's) Guide Unit have been linked together through a formal agreement. The unit meets in the church hall. rent free, every Monday evening during school term time and continues to thrive in all age ranges. Leaders, some of whom are regular St Jude's church members) also take girls to national Guiding events. Beovers & Cub Scouts. During 2024, the PCC agreed to host the 5th Tettenhall Beaver & Cub Scout group on Wednesday evenings. Pastoral Care. Pastoral support. The church family are a caring community, offering ad hoc home visiting. A voluntary diary of church member birthdays is kept & used to notel celebrate church member birthdays. Some of the people who feel unable to return to church receive service and prayer sheets either by hand or postal delivery. The Prayer Chain has remained in operation throughout the year. Prayer is an ab501ute key activity, and an updated Prayer Diary has been produced & distributed to th05e church members who have 'promised' to pray for others and also areas Wlthin the Parish. A special prayer box at the back of church is provided for (anonymous prayer request51. It's use by church members is encouraged. It is used regularly. Prayers left in the box are read/ shared at the Saturday morning Prayer meeting for at least four weeks before being destroyed. A prayer corner for individuals to be prayed for, or with, by two others in private has been reintroduced at Communion Services. There is inforrnal networking of individuals outside of services offering both practical & spiritual support. Since Covid. visiting Care Homes within the Parish has not been re-instituted, obviously not helped by being in vacancy. House Group5 There are a lirnited number of long established semi-autonomou5 groups that meet regularly during the week. The PCC are minded to try to increase numbers of group5 & attendees as it is seen as a great way to increase faith & discipleship. Occasional Leoders and Preochers Group This group was established in 2019 by the previous incumbent and PCC in line with an initiative from Bishop Michael to encourage lay participation in leading and preaching during Worship Services. The group was led by John Welsby, our Reader, though since hi5 departure it is led by Amita Sudra, our Lay Minister. Currently, there are eleven participants in the group. It meets, approximately four times a year to support participants in developing their gifts. Member5 participate in delivering Sunday Services by way of either leading or preaching. The aim that this is not more frequent than once every two months. Feedback 15 given. Recently, it has Page 4
been the forum through which Morning Worship Templates have been produced that closely follow the Book of Common Worship. Cuppa 'n' Cake This is a monthly 'Afternoon Tea, fellowship meeting in our church hall open to anyone but without an explicit evangelical basis. Evangelism activities The PCC has supported the provision of courses to help people discover more about Jesus. This was the 'Lift ofjesus, course. Lent lunches have again been provided in 2024 with recorded talks by J John IFocing the Canonl being shown. Support of other Christian Mission We continue to set aside IO% of the previous year's voluntary unrestricted income to give in support of Christian Mission. 90% is divided equally between our Mission Partners. The last IO% of the allocation forms a reserve fund from which grants may be awarded to short term mission projects, it also funds the purchase of the Bibles we give to St Jude's school year 6 leavers. The PCC conducts an annual review of the Mission Partners we support. The PCC currently supports.. Wolverhampton Well,. Little Brothers of the Good Shepherd- PCF Romania Project- Tearfund,. The Leprosy Mission; Barnabas Aid Ithis was stopped in February 2025 and substituted with Open Doorsl; Hope From Above- and Interserve as a Mission Partner {because of the connections Amita Sudra has formed with the organisation to help her in her work amongst Asian women). Use of our buildings by the community Our reasonably well-equipped church hall is let to community groups (Alcoholics Anonymous, Howling Wolve5 Community Choir, Wolverhampton Music Service) and private individuals. The main church has been used twice in 2023 for music/ choral concerts as well as for school services. Fabric report The architect's quinquennial survey of the building fabric was carried out in 2022. The PCC manages the day-to-day maintenance of church property and grounds. Work in 2024 included.. Ongoing maintenance & repairs to the church heating system including the boilers. Replacement/ maintenance of audio-visual & internet IWi-Fil capabilities for church services. Ongoing roof repairs- Junction of nave/ transept roof over music area; church hall corridor porch; toilet block. Installation of a new urinal for the male toilet. Testing of lightening protection. Testing of fire extinguishers. Church Hall dishwasher replacement. Renewal of fence panels at the rear of church. Protection of our church organ from ingress of wall plaster debris. Replacement of water boiler for the servery at the back of church. The PCC'S priorities for repairs in 2025-26 include= Ongoing plasterwork repairs IParish Room, Main Church) Ongoing maintenance of church heating system (boilers). Rainwater drainage inspection + repair. Repairl replacement of Baptistry water heatingl pump. Commitment to moving to a more carbon neutral church e.g. solar panels, EV charging points. move to electric church heating. Installing contactle55 donation capability in church. Investigate & effect repair51 stabili5ation of Structural issues with Parish Rom external porch. Page 5
Flnancial Review Net total assets- £ 68,689 20241£67.140 20231 Excess- £1,548 - Unrestricted Deficit'.1£4,6621 Restricted Excess.. £6,211 IExcess - £4,972 20231 Overall Income has increased from £103,541 2023 to £103,720. The most notable differences being reduction5 in QIOI Gift Aid collections, 0601 Tax recoverable and 1101 Fees for Weddings & Funerals There have been increases in 1230 Church Hall lettings. Expenditure has increased from £98,568 to £102,171. The most notable differences boing reductions in 2310 Telephones. There were increases in 2440 Heating and Lighting when comparing to the old codes 2401 and 2410. 2360 Adrninistration and 2330 Day to Day Maintenance & Repairs.. The Incurnbent and Churchwardens Trust is held separately from the PCC of Wolverhampton Stjude's-the Trust was set up to help with work of Stjude's Church and decisions are made by the current Incumbent and Church Wardens. Onlythe income can be used which is the reason the capital is held within Trust Number- TN217. Total net assets- £549,368 20241£514,118 20231- which includes 21 St Jude's Road a house which is rented and has a Fixed asset value of £230.960 20241£214,265 20231 The remainder are Stocks and share investments- CB3008467- £145,403 20241£142,149 20231- held in Trust with LDBF- TN217 CB3008391- £70,745 20241£66,578 2023]- held in Trust with LDBF-TN217 CB3008411- £43.755 20241£43,513 20231- held in Trust with LDBF-TN217 Bank Current account holds £28,503 20241£27,288 20231 £30,000 was transferred to a Fixed term deposit with Lloyds Bank- Statements have not been provided. Excess: £10,8912024 IDeficit.'1£2,734120231 The income is derived from rental income frorn 21 St Jude's Road and dividend income from the investments held in Trust TN217. Rental income was £9,000 Net 20241£8.050 20231. Repairs and maintenance were £6,403 20241£1.704 20231. The Dividend incorne was £7,974 20241£7,845 20231. £15,000 was transferred to Stjude's church in 2023. There have been no transfers in 2024. Reserves Polic It is PCC policy to try to maintain a balance on free reserves Inet current assets) which equates to at least three months unrestricted payments. This is equivalent to £25,106 20241£24,270 2023]. It is held to smooth out fluctuations in cash flow and to meet ernergencies. The balance of the free reserves at the year-end were1£13.407) 2024 [1£6,452120231 but with designated funds of £36,647 20241£31.783 20231 which includes the reserve fund of £30,000 added into the equation the reserves would be £22,945 20241£25,33120231 which is marginally lower than this target. The PCC will continue to monitor the situation but can call upon the reserves held in the Incumbent and Church warden's trust should the need arise. Page 6
Investment Pollc The charity is granted power to invest in suitable investments under the PCC Powers Measure 1956 and the Trustees Act 2000. As a charity, the Trustees have a duty of care to take such advice as is appropriate before investments are undertaken. This advice is sought from the Central Board of Finance ICCLAI in London. The charity's investment policies are based on two key principles.. Ethical Investment- this includes ensuring that investments are held in companies which have high standards of corporate governance and act in 3 responsible way towards stakeholders. Long-term responsibilities the trustees are aware of their long-term responsibilities in respect of the Restricted and Unrestricted reserves and as a result follow a prudent approach to investment decisions. Investment policy for long-term funds is aimed primarily at generating a sustainable income, with due regard to the need for the preservation of capital value, and the possible need to realise investments to meet operational needs. The charity does not have a policy of generating income at excessive or high risk - known as 'purchasing income" where high returns are guaranteed at the expense of capital. In summary, the charity has an overall policy to maximise income while preserving the real value of its funds. Due to the nature of the charity, an ethical investment policy is taken into consideration when investments are made: The charity follows the Ethical Investment Advisory policy as recommended by the Lichfield Diocese which includes the following.. "We aim to invest in companies that: will develop their business in the interests of shareholders,. * demonstrate responsible employment practices; are conscientious concerning issues of corporate governance, the environment and human rights,. are sensitive to the community in which they operate." Planned giving, collections and donations are the main sources of fund raising along with tax recoverable. Safe uardin The PCC believe they have fulfilled their duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to House of Bishops, guidance on safeguarding children and vulnerable adults). Re ortin Serious Incidents A Serious Incident is an adverse event, whether actual or alleged, which re5uIt5 in or risks significant harm to the charit¢s beneficiaries, employees, office holders. volunteers or to others who come into contact with the charity through its work, loss of the charitV'5 money or assets, damage to the charitvs property or harm to the charity's work or reputation. The trustee5 are not aware of any Serious Incidents in the last year Fundraisin The PCC takes ifs fundraising re5pon5ibilities Seriously and is very grateful to all donors - whether regular or occasional - for their support of the church and church events. PCC supporters are never taken for Branted. The PCC takes full responsibility for fundraising and does not use commercial organisations or professional fundraisers. All money raised is either by donations. fundraising events, special appeals or legacies for which the PCC are most grateful. Volunteers The members of the PCC would like to thank all the 55 volunteers who work so hard to make our Church a lively and vibrant community. Risk Mana ement The Church Wardens carry out regular Health and Safety Reviews and regularly inspect premises for potential hazards. We have safeguarding policies in place for child protection and for work with vulnerable adults, including rigorous DBS checking of staff and volunteers. Our insurances are reviewed annually to ensure adequate cover. An informal review of any new risks which may impact the work of the Church in the Parish is ongoin8. The trustees have undertaken a review of risks to the charity and how they should be monitored and managed. Taking due consideration of the recommendations of Charity Commission paper CC26 we conclude that no specific new procedures are required. Our present procedures for financial budgetin& managing resources and accounting provide a framework of control which fulfils our obligations as a charity. Page 7
Structure Governance and Mana ement The PCC is a Body Corporate established by the Church of England and is a Charity registered with the Charity Commission. The PCC is governed by the Parochial Church Council Powers Measure119561 as amended that came into effect on 2. January 1957, and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). The method of appointment of the PCC members is set out in the Church Representation Rules. The Council comprises the Incumbent, the Churchwardens, a representative of the Readers, those elected to the Deanery synod. and other members who are elected at the Annual Parochial Church Meetin& by those on the Electoral Roll. The PCC members receive training from courses run by the Diocese. Members of the congregation are always urged to join the Electoral Roll, and to stand for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance in the parish, and for all financial matters. The PCC met 12 times during the year. Related Parties There are no related parties employed by the PCC or awarded contracts for work. Donations from Related Parties Donations from 6 related parties [PCC members] during the year totalled £15,3601£18,290 20231. All these donations were received without condition. Remuneration aid to Trustees. None of the trustees have been paid any remuneration or received any other benefits from employment with the PCC Ex enses aid to Trustees. No trustees were reimbursed for travel and subsistence during the year or in the previou5 year. Page 8
Reference and Administrative Details Charity Name: The Parochial Church Council of the Ecclesiastical Parish of Wolverhampton St Jude's Other names the charity is known by: NIA Re8iStered Charity Number-. 1132485 Charitys principal addre55: St Jude's Road Wolverhampton WV6 OLB Correspondence address." 21A St Jude's Road Wolverhampton WV6 OLB Website address: htt www.achurchnear ou.com church 4644 PCC Members: Who Served from l January 2024 to the date this report was approved Trustee name Offlce Ilf anvl Dates acted if not for whole period Ex-officio Mrsimon Fenner Chairman from 3110712023 Mr Pradip Sudra Dawn Peach Churchwarden120221 Safeguarding Co-ordinator120231 Mr Mark Harrington Deanery Synod Representative120231 Authorised Lay Minster120231 Amita Sudra Elected Members Mrs Joan Reynolds Planned giving secretary [20221 Mr Simon Hewitt 120231 Cynthia Utete John Wallbridge 120231 Kweku Oman Tetteh Page 9
nk Lloyd$ Bank PLC Queen Square Wolverhampton WVI IRF Investment CCLA l Angel Ln Loridon EC4R 3A8 Managers IndÈpendEnt E>tarnlner Janathan Hlll Llrhfleld Dloce5an Board of Flnance St Marys House. The Close. Llchfleld. WS13 7LD Approvcd bv thc PCC on16.OJ.25 antl slBned on Its behalf by.. Pradlp Sudra Slmon Fenner Page 10
Independent Examiner's report to the trustees/members of The PCC of The Parish of Wolverhampton St Jude's Registered charity number- 1132485 I report on the accounts for the year ended 31, December 2024 which are set out on the following pages. Res ertive res onsiblllties of the Trustees and Inde endent Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under Section 144 of the Charities Act 2011 Ithe Charities Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the General Directions given by the Charity Commission (under section 14515llbl of the Charities Act, and to state whether particular matters have come to my attention. Basis of Inde endent Examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Cornmission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those record5. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view, and the report is limited to those matters set out in the statement below. Inde endent Examiner's Statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect.. accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the accounting records I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed.. Date: Lichfield Diocesan Board of Finance St Marls House, The Close. Lichfield WS13 7LD Page 11
The Parish of Wolverham ton St Jude's Notes to the Financial Statements For the year ended 31" December 2024 Accountin Policies The Financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis. There may be minor discrepancies in the totals a5 the pence are not being shown. The financial statements have been prepared under the historical cost convention with items recognised at cost or transattion value unless otherwise stated in the relevant notes to these accounts. 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 rnembers. Cashflow Statement The Charity has taken advantage of the exemption in FRS102 from the requirement to produce a cashflow staternent on the grounds that the income does not exceed £500,000. Goin Concern There are no material uncertainties relate to events or conditions that cast significant doubt on the charit¢s ability to continue as a going concern. Accountin Estimates and Prior Year Errors No changes to accounting estimates have occurred in the reporting period. No material prior year errors have been identified in the reporting period Description of Funds Unrestritted funds are income funds of the PCC that are available for spending on the general purposes of the PCC, including amount5 designated by the PCC for fixed as5et5 for its own use or for spending on a future project and which are therefore not included in its "free reserves" as disclosed in the trustees, annual report. An explanation of purpose of each Designated fund are as follows.. Faith & Art- Funds set aside to work on Faith along with Art. JobClub- Funds set aside for The Job Club group J-Team- Work with children Maintain- Funds set aside for Building maintenance. Mission - Short term mission fund overdrawn at the end of 2024. Funds will be transferred from General to bring to nil and close in 2025. Reserves- 3 months expenditure set aside as reserves. Restricted funds comprise of two elements:_ al income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest. bl donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. Page 12
An explanation of purpose of each Restricted fund are as follows.. Build 1st- Specific donations for the first phase of the building project. Decoration- For the decoration of the Vicarage held with Lichfield Diocese Flower furbd- Specific donations for flowers in Church Green Energy- For new heating system Jubilee- Grant for the Jubilee celebrations. Project cornplete and at nil fund will be closed in 2025. Organ - The PCC received a legacy of £7,000 in 2012 that was to be used for upgrading of the Organ but not routine maintenance. Carers & Toddlers- This is outreach work using the facilities of St Jude's and continues to be self-funding. Youth Fund- This is for all work with secondary school aged young people. Including Sunday Youth, Friday Youth Club subs and equipment. Endowment funds are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the accounts. An explanation of purpose of each Endowment fund are as follows.. The Parish of Wolverhampton Stjude's does not hold any Endowment funds. Incomin Resources Planned giving, collections and donations are recognised when received or when the PCC becomes entitled to the resource and the monetary value can be measured with sufficient reliability. Tax refunds are recognised when the incorning resource to which they relate is received. Grants and Legacies are accounted for when the PCC is legally entitled to the amounts due and the monetary value can be Measured with sufficient reliability- Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross. Resources Ex ended Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross. Governance and Su ort Costs Support costs should be allocated between governance costs and other Support. Governance costs comprise all c05ts involving public accountability of the PCC and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity C05t categories on a basis consistent with the use of resources eg by allocating staff costs by time spent and other costs by their usage. Flxed Assets Consecrated and benefice property is not included in the accounts by s.10121{al&lCI of the Charities Act 2011. Moveable 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 lat any reasonable timel. For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets exceeds 50 years, so that any depreciation charges would be immaterial. Other tangible fixed assets are valued at cost. The depreciation rate5 and methods used are 50Yo per annum. Investment5 Investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at market value at the year end. Investments held for re-sale are treated as current asset investments. Debtors Debtors are measured on initial recognition at settlement amount. Subsequently they are measured as cash expected to be received. Page 13
Creditors and Accruals Creditors are measured at settlement amount5 le55 any trade discounts. Accruals are measured on best estimate of the amount required to settle the obligation at the reporting date. Page 14
The Porish of Wolverhampton StJude'5 year ending 2024 Statement of Receipts and Payments 2024 Unrestricted Designated Restricted Endowment funds funds funds funds 2024 2023 Receipts Donations and legacies Income frorn charitable activities Other trading activities Investments Other income Total income 86,010 1,730 5,308 854 91,319 95.038 2,585 2,711 8,978 837 9,816 5,790 96,719 7,000 103,720 103,541 Payments Raising funds Expenditure on charitable activities Other expenditure Total expenditure 193 96,054 134 5,000 106 683 434 714 101,737 97,854 96,247 5,135 789 102,171 98,568 Net income l {expenditure) resources before transfer 472 (5,136) 6,211 1,548 4,972 Transfers Gross transfers between funds - in Gross transfers between funds - out other recognised gains /105ses Gains/losses on investment assets Gains on revaluation, fixed a55ets, charity's own use Net movement in funds 1,518 110,2501 10,000 250 11,5191 11,768 250 111,769112501 1,309 {6.950) 11,3091 3,633 4,864 1,548 4,973 Reconciliation of funds Total funds brought forward 16,4531 31,782 41,810 67,140 62,167 Total funds carried forward 113,403) 36,647 45,443 68,689 67,140 Page 15
Statement of assets and Ilabllltle5 2024 Class and nomlnal code Goneral Deslgnated Restrlcted Endowment ZOZ4 2023 Flxed As5et- Investments CB3000561.- CBF Church of Eneland UK Eoultv Fund 013 Total Current Asset- Cash At Bank And In Hand 00520537.. Lloyds TSB Curront Account 2001000782.. Klnedom t4ank St Judos Rosorvo A/C 6590.. Cash In hand 6591.. Other Potty Cash CD3000560.' CCLA Wolverhampton St Judes IDWOLV123'. The Vlcaraae 21A St Jude.% Total Llablllty- Agency Accounts SG99'. AEP.n¢y collÈctlons Total 113.459136.647 42.489 65,679 65,060 49 49 48 300 193 300 193 300 100 2,437 d5.421 2,437 2.12.5 6B.662 67,636 113,407136,647 23 1231 1231 1231 soo soo Net total assets 113,4031 36,647 45.443 68.689 67.140 Approved by the pcc on 16.OJf.2025 and slgned on Its bphalf bv: Pratllp Sudra Slmon Fenner Poge 16
Statement of assets and liabilities 2023 Class and nominal code General Designated Restrlrted Endowment 2023 2022 Fixed Asset - Investments CB3000561'. CBF Church of England UK Equity Fund 013 Total Current Asset- Cash At Bank And In Hand 00520537- Lloyds TSB Current Account 2001000782.. Kingdorn Bank St Judes Reserve Alc 6590.. Cash in hand 6591.. Other Petty Cash CB3000560: CCLA Wolverhampton Stjudes IDWOLV123- The Vicarage 21A St Judes 16,5071 48 31.783 39,785 65,061 60,834 48 47 300 200 loo 300 loo 2,125 42,310 2,125 1.813 67,637 62,896 Total 16,4561 31,783 Liability- Agency Accounts 6699.. Agency collections 500 500 500 500 732 732 Total Net total assets {6,452) 31,783 41,810 67.141 62,167 Page 17
Analysis of receipts and payments 2024 Unrestricted Designated Restricted Endowment 2024 2023 RECEIPTS Donations and legacies 0101- Gift Aid Collections 0201- Non Gift Aid Collections 0301- Loose plate collections 0550- Donations 0601- Tax recoverable on Gift Aid 0701- Legacies 08AI- Non-recurring one-off grants Donations and legacies Totals Income from charitable activities 0901- Other Income Generated 0902- Heating Weddings and Funerals 0903 - Subs paid for Clubs Holiday/JteamlYouth 1101- Fees for Weddings and Funerals Income from charitable activities Totals Investments 1001- Dividends 1020 - Bank and building society interest 1230 - Church hall lettings - general Investments Totals Receipts Grand totals 38.470 8,798 8,186 628 12,065 17.862 3,525 40 41,995 46,069 8,838 8,488 8,186 6,207 1,531 16.697 12,906 16.576 17,862 902 841 1,000 91,319 95,038 86,010 5,308 219 597 219 794 657 914 2,585 370 242 695 1,403 2,711 197 657 914 1,730 854 62 775 837 7,000 63 63 9,752 5,727 9,816 5,790 103,720 103,541 8,977 8,978 96,719 PAYMENTS Raising funds 1720- Costs of Stewardship Campaign 1730 - Costs of Fetes & Other Events Raising funds Totals Expenditure on charitable activities 1801- Giving to Other Charities/Sponsorships 1910- Common Fund 2001- Salaries and Bursaries 2025 - Secretary Pension 2102 - All Other Expense Claims 2201- Parish Training and Mission 2202 - Catering 2301- Church running - insurance 2310- Telephones 2320 - Organ/Piano Tuning/Repair/Maintenance 2330- Day to Day Maintenance & Repairs 2331- Cleaning Materials&Equipment 2340- Upkeep of services 2341- Ministry Recources used in Services - Inactive 2350- Upkeep of Church yard 2360 - Administration 2362 - Photocopier Inactive use 2360 2370 - Visiting speakers / locums 2401- Church running- electric Inactive use 2440 2410 - Church running- gas - Inactive use 2440 2420- Church running- water 2440- Heating & Lighting Church 2710- Major repairs 193 193 241 434 134 134 106 106 714 714 193 5,587 37,453 18,886 662 5.587 6,758 37,453 36,718 18,886 16,955 662 560 65 104 1,159 618 214 175 4,949 4,647 871 1,263 684 11,726 8,469 296 408 1,156 816 32 3,702 4.829 1,820 65 157 348 214 4,949 871 654 7.546 296 1,156 4,180 619 4,873 619 5,500 166 460 243 243 1,572 7,557 160 188 12,405 {2501 188 12.405 12501 Page 18
Expenditure on charitable actlvltles Totals Payments Grand totals 96,054 96,247 5,000 5,135 683 789 101,737 97,854 102,171 98,568 Fund movement by type- 2024 Fund Buildlst Restricted Sub-totals Opening Incoming Outgoing Transfers Gains/Losses Journals Closing 21.836 21,836 3,721 3,721 25,557 25,557 Decoration Restricted Sub-totals 2,125 2,125 62 62 250 250 2,437 2,437 Faith-Art Designated Sub-totals 200 200 200 200 Flower Restricted Sub-totals 53 53 53 53 Green Energy Designated Restricted Sub-totals 10,000 10,000 950 10,950 950 950 10,000 Job Club Designated Sub-totals 98 98 98 98 J-Team Designated Sub-totals 42 42 300 300 12591 1259) Jubilee Restricted Sub-totals 18 18 1191 119) Maintain Designated Sub-totals 1,142 1,142 4,180 4,180 13,0381 (3,038) Mission Designated Sub-totals 299 299 654 654 13551 1355) Organ Restricted Sub-totals 6,967 6,967 6,967 6,967 Reserves Designated Sub-totals 30,000 30,000 30,000 30,000 Page 19
Toddlers Restricted Sub-totals 2,398 2,398 657 657 489 11,5001 (1,500) 1,066 1.066 Youth Restricted Sub-totals 8.410 8,410 8.410 8,410 General Unrestricted Sub-totals 16,453) 16,453) 96,719 96,719 96,247 96,247 18,7321 18,7321 136,1441 113,4021 136,1441 (13,4021 Totals 67,140 103,720 102,171 {36,144) 68,689 Fund movement by type- 2023 Fund Buildlst Restricted Opening Incoming Outgoing Transfers Gains/Losses Journals Closing 17,456 17,456 4,380 4,380 21.836 21,836 Sub-totals Decoration Restricted 1,813 1,813 63 63 250 250 2,125 2.125 Sub-totals Faith-Art Designated 200 200 200 200 Sub-totals Flower Restricted 54 54 54 54 Sub-totals Jobclub Designated 98 98 98 98 Sub-totals J-Team Designated 43 43 43 43 Sub-totals Jubilee Restricted 19 19 19 19 Sub-totals Maintain Designated 1,142 1,142 1,142 1,142 Sub-totals Mission Designated 1,148 1,148 848 300 300 Sub-totals Organ Restricted 6,967 6,967 6.967 6,967 Sub-totals Reserve5 Designated 30,000 30.000 30,000 30,000 Sub-totals Toddler5 Page 20
Restricted 1,761 1,761 995 995 357 357 2,399 2,399 Sub-totals Youth Restricted 8,691 8,691 280 280 8,411 ,411 Sub-totals General Unrestricted 17,2231 {7,2231 62,167 98,104 98,104 103,541 97,083 97,083 98,569 1250} 12501 136,7181 16,4521 (36,7181 (6,452) {36,718) 67,141 Sub-tota15 Totals Staff Costs 2024 2023 Wages & Salaries Social Security Costs Average number of Employees £18,822 £ 207 £16.995 83 During the year the PCC employed an administrator, church cleaner and caretaker lall part-timel and most payments were not large enough to attract social security costs. Only the administrator's salary attracted social security costs. There were no employee benefits to key management personnel in the previous or current year. The PCC did not use the National Employment Savings Trust INestl via the Diocesan Payroll Scheme, for its pension payments. None of the employees were eligible. Trustees, Remuneration & Ex No trustees are employed by the PCC enses No trustee5 were reimbursed for travel and sub5iStence during the year or in the previous year. Related Parties No other expenses were paid to any other PCC member. persons closely connected to them or related parties. Donations from 6 related parties IPCC membersl totalled £15.3601£18,290 20231 Fees for the examination of the accounts 2024 2023 Independent Examinerfs fees 150 150 Other fees- Bookkeeping Total 1.020 1,170 800 950 Page 21
Analysis of Transfer between Funds 2024 Debit Credit Descriptlon Tfr from Jubi lee to Genera I to close Fund Fund Type Res 18.93 Jubil ee 18.93 Tfr from Jubi l ee to Genera I to cl ose Tfr from C/A to IDS A/C Tfr from Ca rers & toddl ers to General as per ema i I 25104/2024 AC Tfr from Carers & toddlers to Genera l as per email 25 04 2024 AC Tfr from Genera I Isa unders legacyl to Green fund des as er ema il from PS dated 27.02.25 osted i nto 2024 Tfr from General 1Sa unders legacyl to Green fund des as er ema i I from PS dated 27.02.25 - osted into 2024 Tfr from C AtolDS Genera I Genera I Unr 250 Unr 1500.00 Toddlers Res 1 500.00 Genera I Unr 10,000.00 General Unr io 000.00 Green Ener Des 250 Decoration Res Analysis of Transfer between Funds 2023 Debit Credit Description Fund Fund Type Tfr from 00520537 to IDS account 250 General Decoratio Unr Tfr from 00520537 to IDS account 250 Res Fixed Assets a} Fixed Assets - Tangible The PCC of Wolverhampton St Jude's does not have any Fixed A5set5- Tangible bl Fixed Asset Investments Atl Jan Addition Disposal Transfer Change in Market Value At31 Dec Unrestricted funds CBF UK Equity Fund Total CB3000561- CBF Church of England UK Equity Fund 013- £4 20241£3 20231 Page 22
Liabilities Liabilities due within one ear 2024 2023 Agency 124 500 Total 124 500 Debtors 2024 2023 LDBF Vacancy 146 Total 146 *Net amount shown in the Accounts is (£23) Poge 23
Summary of Assets by Fund 2024 Unrestrlcted 113,4031 Deslgnated Restricted Endowment 2024 2023 113.4031 16,453) 200 200 10,000 98 1259) 13.038} 13551 30,000 25,557 2,437 53 950 General Iunrestrittedl Designated - Faith-Art Designated- Green Energy Designated - Jobclub Designated- J-Team Designated - Maintain Designated - Mission Designated - Reserves Restricted - Buildlst Restricted - Decoration Restricted - Flower Restricted - Green Energy Restricted - Jubilee Restricted - Organ Restricted Toddlers Restricted Youth Total 200 10,000 98 12591 13,0381 1355} 30,000 98 42 1,142 299 30,000 21,836 2,125 53 25,557 2,437 53 950 18 6.967 2,398 8,410 67,140 6,967 1,066 8,410 45,443 6,967 1,066 8,410 68,689 (13.4031 36,647 Summary of Asset by fund 2023 Unrestricted Designated Restricted 2023 2022 Unrestricted General fund {6.4521 16,4521 {7,2231 Designated Building Maintenance {D} Faith & Art Job Club Pre-secondary School Children Reserve5 3 month5 expenditure Short Term Mission 1,142 200 98 43 30,000 1.142 200 98 43 30,000 1.142 200 98 43 30,000 300 300 1.148 Restricted Building Project- 1st Phase Carers and Toddlers Flower Fund IDS Decoration Lichfield Jubilee Organ Fund Youth Fund IRI Totals 21.836 2.399 54 2,125 19 6,967 8,411 41,810 21,836 2.399 54 2,125 19 6,967 8,411 67,141 17,456 1.761 54 1,813 19 6.967 8,691 62,167 (£6.4521 31,783 Poge 24
SOFA- Receipts & Payments Comparatives Previous Year 2023 Statement of Receipts and Payments 2023 Unrestricted Designated Restricted Endowment 2023 2022 Receipts Donations and legacies Income from charitable activities Investments Other income Other trading activities Total Receipts 90,659 1,717 5,728 4,380 995 63 95,039 82,199 2,712 1,139 5,791 5.584 98.104 5.438 103,541 88,921 Payments Raising funds Expenditure on charitable activities Other expenditure Total Payments 79,568 17,516 97,083 848 637 81.053 83,652 17,516 16,089 98,569 99,741 637 Excess of receipts over payments before transfer 1,020 1848) 4,800 4,973 (10,8191 Transfers.. Gross transfers between funds - in Gross transfers between funds out Excess of receipts over payments before other gains Net movement in funds 250 250 250 12501 12501 4,973 110,8191 4,973 (10,820) 12501 770 771 {8481 18481 5,050 5,050 Reconciliation of funds Excess of receipts over payments at beginning of the year Excess of receipts over payments for the year (7,223} (6,4521 32,631 31,783 36,760 41,810 62,167 72,988 67,141 62,167 Page 25