## **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. Page 4 ## **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|| Page 5 ## **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)| |---|---|---|---|---|---| Page 6 ## **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 Page 7