Report of the Trustees and
Unaudited Financial Statements For The Year Ended 31 December 2023 for DISTRICT CHURCH COUNCIL OF CHRIST CHURCH
QUARRY BANK
M. J. Grainger & Co. 196 High Street Quarry Bank Brierley Hill West Midlands DY5 2JP
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH
QUARRY BANK
Contents of the Financial Statements For The Year Ended 31 December 2023
| Page | |
|---|---|
| Independent Examiner's Report | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 to 8 |
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH QUARRY BANK
We report on the accounts for the year ended 31 December 2023 set out on pages two to seven.
Respective responsibilities of Trustees and Examiner
The members of the DCC are responsible for the preparation of the accounts. The members of the DCC consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the DCC and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as members of the DCC 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.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material aspect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting Requirements of the 2011 Act have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M. J. Grainger & Co.
196 High Street Quarry Bank Brierley Hill West Midlands DY5 2JP
Date: ………………………………………
Page 1
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH
QUARRY BANK
Statement of Financial Activities for the Year Ended 31 December 2023
| Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Activities for generating funds 2 Investment income 3 Incoming resources from church activities PCC Fees Magazine Advertising Fees Other incoming resources Heating contributions Other incoming sources Total incoming resources RESOURCES EXPENDED Costs of generating funds Fundraising trading: Cost of goods sold and other costs 4 Charitable activities Parish share Governance costs Other resources expended Total resources expended NET INCOMING/ (OUTGOING) RESOURCES BFEORE TRANSFERS Gross transfers between funds 11 Net Incoming/ (Outgoing) resources before Other recognised gains & losses Adjustment Other recognised gains & losses Gains/losses on investment assets Net Movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 28,604 4,850 834 1,996 953 519 37,756 1,970 16,413 480 19,116 37,979 (223) 1,515 1,292 689 1,981 38,627 40,608 |
Restricted funds £ 3,879 505 4,384 10,236 10,236 (5,852) (1,515) (7,367) (7,367) 10,843 3,476 |
2023 Total funds £ 32,483 5,355 834 1,996 953 519 42,140 1,970 16,413 480 29,352 48,215 (6,075) (6,075) 689 (5,386) 49,470 44,084 |
2022 Total funds £ 25,666 4,408 1,051 4,477 1,174 278 37,054 776 14,000 480 16,579 31,835 5,219 - 5,219 (5,758) (539) 50,009 49,470 |
|---|---|---|---|---|
The notes form part of these financial statements Page 2
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH QUARRY BANK
Balance Sheet
As at 31 December 2023
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Investments 9 Cash at bank and in hand CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 40,693 40,693 85 40,608 40,608 40,608 |
Restricted funds £ 3,476 3,476 3,476 3,476 3,476 |
2023 Total funds £ 44,169 44,169 85 44,084 44,084 44,084 40,608 3,476 44,084 |
2022 Total funds £ 240 36,567 12,766 49,573 103 49,470 49,470 49,470 38,627 10,843 49,470 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees on …………………………………….. and were signed on its behalf by:
………………………………………………………………………
…………………………………………………………………………
Trustee
Trustee
The notes form part of these financial statements Page 3
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH QUARRY BANK
Notes to the Financial Statements
for the Year Ended 31 December 2023
1 ACCOUNTING POLICIES
Accounting convention
T he FCC is a public benefit entity within the meaning of FRS102.
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individuals accounts of PCCs, and with the Regulations' 'true and fair view'' provisions, it is also the first year that they have been prepared under FRS102 (2016)
as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
ASSETS
Investments
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end. Other investment assets are included at PCC's best estimate of market value.
Short Term Deposits
These are the cash held on deposit either with CCLA or at the bank.
Incoming Resources
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the payment is due. Grants and legacies are accounted for when the DCC receives the amounts due. Dividends, interest and all other income are recognised when received.
Resources expended
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 to particular headings they have been allocated to activities on a basis consistent with the use of resources. Any parish share unpaid at the year end is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor on the Balance Sheet.
Taxation
The Church is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds
These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use for spending on a future
project and which are therefore not included in its ''free reserves'' as disclosed in the trustees' report.
Restricted funds
These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
Endowment Funds
These 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 benefit derived from the capital may be restricted or unrestricted.
Full details of all their restrictions are shown in the notes to the accounts.
Page 4
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH QUARRY BANK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
| ACTIVITIES FOR GENERATING FUNDS Fundraising events Magazine receipts Traidcraft income INVESTMENT INCOME Deposit account interest Current asset investment income FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS Magazine production Traidcraft purchases Cost of fundraising |
2023 £ 5,355 5,355 834 - - 1,970 1,970 |
2022 £ 4,238 170 4,408 1,051 - - 776 776 |
|---|---|---|
2 ACTIVITIES FOR GENERATING FUNDS
3 INVESTMENT INCOME
4 FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS
5 TRUSTEES REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses for the year ended 31 December 2023 nor for the year ended 31 December 2022.
| STAFF COSTS Organist fees TANGIBLE FIXED ASSETS COST |
2023 £ 840 |
2022 £ 840 Equipment £ |
|---|---|---|
6
7 TANGIBLE FIXED ASSETS
At 1 January 2019 and 31 December 2019.
DEPRECIATION
At 1 January 2019 Charge for year At 31 December 2019
NET BOOK VALUE
At 31 December 2019 At 31 December 2018
Page 5
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH QUARRY BANK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
| 8 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9 CURRENT ASSET INVESTMENTS Listed investments 10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11 MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund 38,627 Restricted funds Building Fund (Church Maintenance) 3177 Building for the future Fund 5,774 Children's work 432 Traidcraft 89 Flower Guild 192 Choir 355 Lunch Club 70 Café Church 138 Sundry 62 Charities 554 10,843 TOTAL FUNDS 49,470 |
Net movement Transfers in funds between funds £ £ (223) 1,515 (7,645) 5,774 (5,774) 2,169 (1,350) (135) 220 (72) (389) (165) (5,852) (1,515) (6,075) |
2023 £ 2023 £ 2023 £ 85 Gains and losses £ 689 689 |
2022 £ 240 2022 £ 36,567 2022 £ 103 At 31.12.23 £ 40,608 1,306 1,251 89 57 575 70 66 62 3,476 44,084 |
|---|---|---|---|
Page 6
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH
QUARRY BANK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
11 MOVEMENT IN FUNDS (cont'd)
Net movement in funds, included in the above are as follows:
| Unrestricted funds Restricted funds Building Fund Building for the future Fund Lunch Club Children's work Choir Church Maintenance Café Church Flower Guild Traidcraft Sundry Charities TOTAL FUNDS |
Incoming Resources £ 37,756 651 3,000 220 513 4,384 42,140 |
Resources expended £ 37,979 8,296 831 72 135 902 10,236 48,215 |
Movement in funds £ (223) (7,645) 2,169 220 (72) (135) (389) (5,852) (6,075) |
Gains and losses £ 689 689 |
Transfer between funds £ 1,515 5,774 (5,774) (1,350) (165) (1,515) |
|---|---|---|---|---|---|
12 RESOURCES USED
Grants
Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the DCC.
Activities directly relating to the work of the Church
The diocesan quota or parish share is accounted for when payable. Any quota unpaid at 31st December, but intending to be paid by 22nd February 2023, is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet.
Page 7
DISTRICT CHURCH COUNCIL OF CHRIST CHURCH QUARRY BANK
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| INCOMING RESOURCES Voluntary income Gifts Donations Gift aid Legacies Grants Activities for generating funds Fundraising events Investment income Current asset investment income Incoming resources from charitable activities Magazine Sales PCC fees Heating contributions Other incoming sources Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Fundraising trading: cost of goods sold and other costs Cost of refreshments Charitable activities Organist salary Clergy expenses Missionary & charitable giving Diocesan parish share Other ministry costs Church running expenses Upkeep of services Printing & Stationery Training, mission & deanery Church maintenance Miscellaneous Governance costs Accountancy Total resources expended Net income/expenditure |
2023 £ 6,462 5,658 17,363 3,000 32,483 5,355 834 1,996 953 519 3,468 42,140 1,970 840 760 1,202 16,413 1,246 22,009 475 2,566 253 1 47,735 480 48,215 (6,075) |
2022 £ 6,571 771 17,224 500 600 25,666 4,408 1,051 4,477 1,174 278 5,929 37,054 776 840 577 1,651 14,000 1,209 8,091 594 2,436 150 77 954 30,579 480 31,835 5219 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 8
Report of the Trustees and
Unaudited Financial Statements For The Year Ended 31 December 2023
for DISTRICT CHURCH COUNCIL OF
ST JOHN’S CHURCH, BROCKMOOR
M. J. Grainger & Co. 196 High Street Quarry Bank Brierley Hill West Midlands DY5 2JP
DISTRICT CHURCH COUNCIL OF
ST JOHN’S CHURCH, BROCKMOOR
Contents of the Financial Statements For The Year Ended 31 December 2023
| Page | |
|---|---|
| Independent Examiner's Report | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 to 7 |
| Detailed Statement of Financial Activities | 8 |
Independent Examiner’s Report to the Trustees of DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR
We report on the accounts for the year ended 31 December 2023 set out on pages two to eight.
Respective responsibilities of trustees and examiner
The members of the DCC are responsible for the preparation of the accounts. The members of the DCC consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act.
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the DCC and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as members of the DCC 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.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) Which gives me reasonable cause to believe that, in any material aspect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting Requirements of the 2011 Act have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M. J. Grainger & Co. 196 High Street Quarry Bank Brierley Hill West Midlands DY5 2JP
Date: …………………………………………
Page 1
DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR Statement of Financial Activities for the Year Ended 31 December 2023
| Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Activities for generating funds 2 Investment income 3 Incoming resources from charitable activities PCC Wedding and Funeral Fees Church Hall and Room Letting Other incoming resources Total incoming resources RESOURCES EXPENDED Charitable activities Church Activities Cost of Generating Funds Governance costs Total resources expended NET INCOMING/ (OUTGOING) RESOURCES BFEORE TRANSFERS Gross transfers between funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 5,782 694 23 1,954 4,200 857 13,510 11,745 480 12,225 1285 1285 14,410 15,695 |
Restricted funds £ 2,654 2,654 2,659 2,659 (5) (5) 11,914 11,909 |
Endowment funds £ 5,000 5,000 |
2023 Total funds £ 8,436 694 23 1,954 4,200 857 16,164 14,404 480 14,884 1,280 1,280 31,324 32,604 |
2022 Total funds £ 9,201 526 103 2,453 4,369 817 17,469 20,534 480 21,014 (3,545) (3,545) 34,869 31,324 |
|---|---|---|---|---|---|
The notes form part of these financial statements Page 2
DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR
Balance Sheet
As at 31 December 2023
| Notes CURRENT ASSET Debtors 4 Cash at bank and in hand CREDITORS Amounts falling due within one year 5 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 6 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted funds £ 233 16,796 17,029 1,334 15,695 15,695 |
Restricted funds £ 11,909 11,909 11,909 11,909 |
Endowment funds £ 5,000 5,000 5,000 5,000 |
2023 Total funds £ 233 33,705 33,938 1,334 32,604 32,604 15,695 11,909 5,000 32,604 |
2022 Total funds £ 233 32,888 33,121 1,797 31,324 31,324 14,410 11,914 5,000 31,324 |
|---|---|---|---|---|---|
The financial statements were approved by the Board of Trustees on …………………………………….. and were signed on its behalf by:
…………………………………………………………………………
…………………………………………………………………………
Trustee
Trustee
The notes form part of these financial statements Page 3
DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR Notes to the Financial Statements
for the Year Ended 31 December 2023
1 ACCOUNTING POLICIES
Accounting convention
T he FCC is a public benefit entity within the meaning of FRS102.
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individuals accounts of PCCs, and with the Regulations' 'true and fair view'' provisions, it is also the first year that they have been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
ASSETS
Investments
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end. Other investment assets are included at PCC's best estimate of market value.
Short Term Deposits
These are the cash held on deposit either with CCLA or at the bank.
Incoming Resources
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the payment is due. Grants and legacies are accounted for when the DCC receives the amounts due. Dividends, interest and all other income are recognised when received.
Resources expended
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 to particular headings they have been allocated to activities on a basis consistent with the use of resources. Any parish share unpaid at the year end is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor on the Balance Sheet.
Taxation
The Church is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds
These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use for spending on a future project and which are therefore not included in its ''free reserves'' as disclosed in the trustees' report.
Restricted funds
These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
Endowment Funds
These 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 benefit derived from the capital may be restricted or unrestricted.
Full details of all their restrictions are shown in the notes to the accounts.
Page 4
DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR Notes to the Financial Statements
for the Year Ended 31 December 2023
2 ACTIVITIES FOR GENERATING FUNDS
| Fundraising events 3 INVESTMENT INCOME Dividends and interest Current asset investment income 4 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 5 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts Other creditors |
2023 £ 694 2023 £ 23 2023 £ 233 2023 £ 1,334 1,334 |
2022 £ 526 2022 £ 103 2022 £ 233 2022 £ 1,797 1,797 |
|---|---|---|
Page 5
DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR Notes to the Financial Statements for the Year Ended 31 December 2023
6 MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds School Uniforms Messy Church 3 C's Little Badgers Churchyard HLF Project Sound system Fisher Trust Endowment funds Endowment TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds School Uniforms Messy Church 3 C's Little Badgers Churchyard HLF Project Sound system Fisher Trust TOTAL FUNDS |
At 1.1.23 £ 14,410 132 145 1,008 485 3,183 15,619 (8,658) 11,914 5,000 31,324 |
Net movement in funds £ 1,285 141 (490) 172 500 (98) (230) (5) 1,280 Incoming Resources £ 13,510 280 531 500 500 843 2,654 16,164 |
Adjustments £ - - Resources expended £ 12,225 139 1,021 328 98 1,073 2,659 14,884 |
At 31.12.23 £ 15,695 273 (345) 1,180 985 3,085 15,389 (8658) 11,909 5,000 32,604 Movement in funds £ 1,285 141 (490) 172 500 (98) (230) (5) 1,280 |
|---|---|---|---|---|
Page 6
DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
7 RESTRICTED FUNDS
These are funds which are restricted to the purposes below:-
Fabric Fund - Provision of funds for the repair and improvement of the Church Building.
8 UNRESTRICTED FUNDS
9 ENDOWMENT FUNDS
An endowment given as a specific bequest for the maintenance of a grave in the churchyard.
10 CURRENT ASSET INVESTMENTS
The following investments are not shown on the Balance Sheet because only the income receivable from these investments can be expended by the DCC.
| CBF Investment Fund ( Brockmoor Trust) Market value - 1 January 2023 Net gain (loss) on annual revaluation Market value - 31 December 2023 Holding at 31 December 2023 - 90 income shares CBF Investment Fund ( Brockmoor Trust - Slade) Market value - 1 January 2023 Net gain (loss) on annual revaluation Market value - 31 December 2023 Holding at 31 December 2023 - 68 income shares |
£ 1,858 176 2,034 £ 1,404 133 1,537 |
|---|---|
Page 7
DISTRICT CHURCH COUNCIL OF ST JOHN'S CHURCH, BROCKMOOR
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| INCOMING RESOURCES Voluntary income Gifts Donations Gift aid Grants Activities for generating funds Fundraising events Investment income Dividends and interest Incoming resources from charitable activities Church Hall or Room Letting fees PCC fees Other incoming resources Total incoming resources RESOURCES EXPENDED Charitable activities Architects, Surveyors and Consulting Fee's Missionary & charitable giving Diocesan parish share Expenses of the incumbent Church running expenses Upkeep of services Church maintenance Cost of fundraising events Support costs Loan to BHMTC Fisher Trust Messy Church, 3 C's, Youth Group, HLF Costs Recharges Churchyard upkeep expenses Governance costs Accountancy Total resources expended Net income/expenditure |
2023 £ 262 2,069 3,451 2,654 8,436 694 23 4,200 1,954 6,154 857 16,164 100 4,013 52 6,147 681 753 2,659 14,405 480 14,884 1,280 |
2022 £ 176 944 4,040 4,041 9,201 526 103 4,369 2,453 6,822 817 17,469 1,088 5,500 64 5,306 31 242 926 7,377 20,534 480 21,014 (3,545) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 8
Unaudited Financial Statements For The Year Ended 31 December 2023 for ST MICHAEL’S CHURCH, BRIERLEY HILL
M. J. Grainger & Co. 196 High Street Quarry Bank Brierley Hill West Midlands DY5 2JP
ST MICHAEL’S CHURCH, BRIERLEY HILL
Contents of the Financial Statements For The Year Ended 31 December 2023
| Page | |
|---|---|
| Independent Examiner's Report | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 to 7 |
We report on the accounts for the year ended 31 December 2023 set out on pages two to seven.
Respective responsibilities of Trustees and Examiner
The members of the DCC are responsible for the preparation of the accounts. The members of the DCC consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act;
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission.
An examination includes a review of the accounting records kept by the DCC and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as members of the DCC 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.
Independent examiner's statement
In connection with my examination, mo matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material aspect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting Requirements of the 2011 Act have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M. J. Grainger & Co. 196 High Street Quarry Bank Brierley Hill West Midlands DY5 2JP
Date: ………………………………………
Page 1
ST MICHAEL'S CHURCH, BRIERLEY HILL Statement of Financial Activities for the Year Ended 31 December 2023
| INCOMING RESOURCES Notes Incoming resources from generated funds Voluntary income Activities for generating funds 2 Investment income 3 Incoming resources from charitable activities Fees for Weddings & Funerals Church Hall and Room Letting PCC Fees Total incoming resources RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income Fundraising trading: cost of goods sold and other costs Charitable activities Church Activities Governance costs Total resources expended NET INCOMING/ (OUTGOING) RESOURCES BFEORE TRANSFERS Gross transfers between funds 8 Net incoming/(outgoing) Resources before other recognised gains and losses Adjustment Other recognised gains/losses Gains/losses on investment assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 6,020 87 3,965 1,028 23,937 35,037 34,807 480 35,287 (250) (250) (795) 18,940 17,895 206,939 224,834 |
Restricted funds £ 840 6,408 3531 10,779 1,590 1,590 9,189 9,189 9,189 74,453 83,642 |
Endowment funds £ 2,296 2,296 1,710 1,710 586 586 586 2,344 2,930 |
2023 Total funds £ 6,860 6,495 9,792 1,028 23,937 48,112 38,107 480 38,587 9,525 9,525 (795) 18,940 27,670 283,736 311,406 |
2022 Total funds £ 15,018 1,519 4,621 1,408 1,349 23,915 33,220 480 33,700 (9,785) (9,785) (13,736) (23,521) 307,257 283,736 |
|---|---|---|---|---|---|
The notes form part of these financial statements Page 2
ST MICHAEL'S CHURCH, BRIERLEY HILL Balance Sheet
As at 31 December 2023
| CURRENT ASSET Notes Debtors 5 Investments 6 Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS 8 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted funds £ 4,327 124,302 99,353 227,982 3,148 224,834 224,834 |
Restricted funds £ 83,642 83,642 83,642 83,642 |
Endowment funds £ 2,930 2,930 2,930 2,930 |
2023 Total funds £ 4,327 124,302 185,925 314,554 3,148 311,406 311,406 224,834 83,642 2,930 311,406 |
2022 Total funds £ 136 105,362 184,509 290,007 6,271 283,736 283,736 206,939 74,453 2,344 283,736 |
|---|---|---|---|---|---|
The financial statements were approved by the District Church Council on …………………………………….. and were signed on its behalf by:
……………………………………………………………………
…………………………………………………………………………
The notes form part of these financial statements Page 3
ST MICHAEL'S CHURCH, BRIERLEY HILL Notes to the Financial Statements for the Year Ended 31 December 2023
1 ACCOUNTING POLICIES
Accounting convention
T he FCC is a public benefit entity within the meaning of FRS102.
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individuals accounts of PCCs, and with the Regulations' 'true and fair view'' provisions, it is also the first year that they have been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
ASSETS
Investments
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end. Other investment assets are included at PCC's best estimate of market value.
Short Term Deposits
These are the cash held on deposit either with CCLA or at the bank.
Incoming Resources
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the payment is due. Grants and legacies are accounted for when the DCC receives the amounts due. Dividends, interest and all other income are recognised when received.
Resources expended
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 to particular headings they have been allocated to activities on a basis consistent with the use of resources. Any parish share unpaid at the year end is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor on the Balance Sheet.
Taxation
The Church is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds
These represent the remaining income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use for spending on a future project and which are therefore not included in its ''free reserves'' as disclosed in the trustees' report.
Restricted funds
These are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts.
Endowment Funds
These 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 benefit derived from the capital may be restricted or unrestricted.
Full details of all their restrictions are shown in the notes to the accounts.
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ST MICHAEL'S CHURCH, BRIERLEY HILL Notes to the Financial Statements for the Year Ended 31 December 2023
2 ACTIVITIES FOR GENERATING FUNDS
| Fundraising events 3 INVESTMENT INCOME Current asset investment income 4 STAFF COSTS Other salaries and support 5 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 6 CURRENT ASSET INVESTMENTS Listed investments |
2023 £ 6,495 2023 £ 9,792 2023 £ 2023 £ 4,327 2023 £ 124,302 |
2022 £ 1,519 2022 £ 4,621 2022 £ 2022 £ 136 2022 £ 105,362 |
|---|---|---|
| The following investments are not shown on the Balance Sheet because only the income receivable from these | The following investments are not shown on the Balance Sheet because only the income receivable from these |
|---|---|
| investments can be expended by the PCC. | |
| CBF Investment Fund (Clergy Fund) | £ |
| Market value - 1 January 2023 | 71,104 |
| Net gain (loss) on annual revaluation | 6,749 |
| Market Value - 31 December 2023 | 77,853 |
| Holding at 31 December 2023 - 3,444 income shares | |
| CBF Investment Fund (General Fund) | |
| Market value - 1 January 2023 | 599 |
| Net gain (loss) on annual revaluation | 57 |
| Market Value - 31 December 2023 | 656 |
| Holding at 31 December 2023 - 29 income shares | |
| CBF Fixed Interest Fund (Clergy Fund) | |
| Market value - 1 January 2023 | 7,356 |
| Net gain (loss) on annual revaluation | 439 |
| Market Value - 31 December 2023 | 7,795 |
| Holding at 31 December 2023 - 5,385 income shares |
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ST MICHAEL'S CHURCH, BRIERLEY HILL Notes to the Financial Statements for the Year Ended 31 December 2023
7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 8 MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Church clock face restoration Fabric fund Christmas Tree/Fayre fund Organ fund Craft class Easy exercise class New safe fund Sundry collections Endowment funds Endowment fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Church clock face restoration Fabric fund Christmas Tree/Fayre fund Organ fund Easy exercise class Craft class New safe fund Sundry collections Endowment funds Endowment fund TOTAL FUNDS |
At 1.1.23 £ 206,939 10,000 56,365 168 3,904 600 3,416 74,453 2,344 283,736 Incoming Resources £ 35,037 3,531 408 750 6000 90 10,779 2,296 48,112 |
Net movement in funds £ (250) 3,531 350 (692) 6,000 9,189 586 9,525 Resources expended £ 35,287 1,100 400 90 1,590 1,710 38,587 |
Gains & Losses £ 18,940 18,940 Movement in funds £ (250) 3,531 (692) 350 6000 9,189 586 9,525 |
2023 £ 3,148 3,148 Adjustment £ (795) (795) Gains & Losses £ 18,940 18,940 |
2022 £ 6,271 6,271 31.12.23 £ 224,834 10,000 59,896 168 3,904 950 2,724 6,000 83,642 2,930 311,406 Adjustment £ (795) (795) |
|---|---|---|---|---|---|
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ST MICHAEL'S CHURCH, BRIERLEY HILL Detailed Statement of Financial Activities for the Year Ended 31 December 2023
INCOMING RESOURCES
| Voluntary income Gifts Donations Gift aid Legacies Grants Activities for generating funds Fundraising events Investment income Current asset investment income Incoming resources from charitable activities Fees for Weddings & Funerals PCC fees Church Hall Letting fees Total incoming resources Costs of generating voluntary income Applying for grants and donations Christian stewardship Fundraising trading: cost of goods sold and other costs Cost of refreshments Charitable activities Organist salary Other salaries and support Missionary & charitable giving Diocesan parish share Expenses of the incumbent Church running expenses Upkeep of services Printing & Stationery Training, mission & deanery Church maintenance Craft class Easy exercise class Governance costs Accountancy Total resources expended Net income/expenditure |
2023 £ 463 330 3,425 2,642 6,860 6,495 9,792 1,028 23,937 41,252 48,112 50 90 6,839 23,731 345 5,552 400 1,100 38,107 480 38,587 9,525 |
2022 £ 915 10,384 3,219 500 15,018 1,519 4,621 1,408 1,349 8,897 23,915 50 144 13,265 9,446 382 8,533 300 1,100 33,220 480 33,700 (9,785) |
|---|---|---|
This page does not form part of the statutory financial statements
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