REGISTERED CHARITY NUMBER: 1132975 

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR 

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST LAURENCE, NORTHFIELD BIRMINGHAM 

ig POLKADOT & ELLIS 

Incorporating John Ellis & Co. 



‘ 

; 

‘ 

## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SeereeEnnn enerST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

## CONTENTS 

PAGE Report of the Trustees 1-6 Independent Examiner's Report : 7 Statement of Financial Activities 8 Balance Sheet 9 Notes to the Financial Statements 10-20 



. 

# THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

# a 

# REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 

Administrative information 

St. Laurence’s Church is situated in Northfield, Birmingham. It is part of the Diocese of Birmingham within the Church of England (CofE). The correspondence address is St Laurence Church, Northfield Birmingham B31 2LX. The Parochial Church Council (PCC) is a registered charity, Charity number 1132975. 

The Trustees (who are the PCC members) have served during the year to 31st December 2020 and were members until the date of signing: The Revd Canon Janet Chapman Mr Jeffrey Carr Appointed 18th October 2020 Mrs Ruth Clarke Mrs Elaine Clements (Treasurer) Mrs Debbie Keeves Retired 18th October 2020 Mrs Jennifer King Mr Robert Mayne Appointed 18th October 2020 Mrs Marianna Melville Retired 18th October 2020 Mrs Geraldine Merrick Mrs Christine Michael Retired 18th October 2020 The Revd Theresa Morton Appointed 27th June 2020 Mrs Aileen Paterson Retired 30th July 2020 Mrs Hilda Pouncett Retired 18th October 2020 Mr Roy Pouncett Ms Linda Powell The Revd David Pycock Mr Mark Reynolds Retired 18th October 2020 Mrs Sandra Reynolds Ms Sarah Vernon Appointed 18th October 2020 Miss Janice Wones 

Secretary Mrs Emily Corns Independent examiner MR R B Welch MA FCA John Ellis & Co Ltd The Barn, 173 Church Road Northfield, Birmingham B31 2LX 

1 



. 

## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF a REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 

## RECTOR’S REPORT 

We continue to give thanks to God for His love and faithfulness by which we have travelled through the Covid. 19 pandemic and continue to do so. By His grace we have been enabled to adapt our worship and mission in order to nurture our congregation and walk alongside many community organisations to deliver effective care within the parish of St Laurence, Northfield during 2020. This is a summary report. All the reports to be presented to the Annual Parochial Church Meeting (APCM) are available either by request (tel 0121 475 1518) or on the church web-site https:/Awww.stlaurencenorthfield.org/uploads/6/4/4/1/6441792/annual_report_2020__for_2021_meeting_.pdf The 2020 APCM was postponed from March to October so we did not review the goals until late in the year. | therefore include the goals and progress for both 2019/20 and 2020/2021 ° To register as an Eco-church and achieve bronze accreditation: completed cae April 2020 2020 die 

- ° To register as an Eco-church and achieve bronze accreditation: completed cae April 2020 2020 die 

- ° To build an interior porch: good progress on this in 2020 with an expected start date of January 2021 and completion July 2021. This started on time but there have been some delays in progress which are being closely monitored We are grateful to have received a grant of £10,000 from the Harlow Trust administered by our Patron, Keble College, Oxford and have also been able to allocate £10,000 of the #NorthfieldRevealed grant towards it (see below.) 

- . To complete the “Know Your Church, Know Your Neighbourhood” (KYCKYN) programme and increase community use of the church: KYCKYN completed July 2019 and there are great hopes for more community use of the church : thanks to an award grant in January 2020 of £65,700 from The National HERITAGE Lottery Heritage Fund for a community history project ‘#Northfield Revealed. FUND ‘The award is paid in three parts 50% at the start of the project, 40% on submission of a report proceeding the completion of the initial soend and finally 10% is released after the project is completed. This project will continue into 2021. 

2020/21 goals (set late 2020) 

- ° To work towards Eco-Church Silver Award, including continuing with the porch and improving heating and lighting. 

- ° To get St Laurence Safe Spaces underway - an after school club and safe space for children of secondary school age vulnerable to knife crime. Fr David Pycock has done an incredible amount of work to get ready for this to start in April 2021 including securing grant funding. 

- . Improve our ability to broadcast worship to enable more people in the community to connect with church. 2020 saw us embrace video conferencing (hereafter referred to as Zoom), YouTube and conference calling in order to come together as a dispersed church and broadcast services from the Rectory and others’ homes. As we re-opened church temporarily in the summer it became clear that we need more equipment in order to do this to a more professional standard. 

2 



## , THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF oe epp|e_le REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 

## Worship and Church Life 

My priority as Rector, as we went into lockdown in March 2020, was to keep the congregation worshipping together as much as possible even though worshipping at home. The ability to chat to one another whilst worshipping was also vital to sustain us ‘being’ St Laurence, Northfield. 9.30am on Sundays and 10am Wednesdays became the times to gather for Holy Communion on Zoom/Conference Call with the reflective service of Compline on Conference Call. Until March 2020 the latter was held only in Advent and Lent but now continues every Wednesday. We quickly acquired our own YouTube channel and Sunday School became a pre-recorded service, with many families sending in contributions. We then made it an in-person “Sunday School Service” under strict Covid guidelines when we could. As we entered 2021 it became an interactive Zoom service. Many other services were added to YouTube and members of the congregation enjoyed sending in photographs to build montages set to hymns and organ voluntaries. 

The church web-site, our FaceBook pages and Twitter messages have very much supported our worship, pastoral communications and provision of vital information. We have also been providing a series of themed trails around the churchyard: Saints, Christmas, NHS staff etc. 

We continue asa ‘training parish.’ The Revd Theresa Morton joined us as assistant curate in June 2020 and was eventually ordained deacon in September. Ordinand, Claire Whitmore, has made us her ‘Link Parish.’ Both have brought wisdom, energy and technical skills to the team. 

The ‘Look-out’ groups established in 2019 came into their own, offering a considerable amount of Pastoral Care to the congregation through the telephone. The ministry team quickly got into the routine of sending out c130 packs about every 6 weeks to all on the Electoral Roll. They included spiritual, practical and a few fun resources to keep people in touch and to boost morale. 

Sadly, we were unable to complete the local ecumenical Lent Course but we were able to run an ‘Exploring Faith’ course via Zoom later in the year. The Mother’s Union paused meeting for much of the year but members kept in touch by phone and mailings. The ‘Gridiron’ quickly adapted to Zoom and meeting outside when permitted and we managed a few quizzes on Zoom and even a ‘raise your glass to our new curate’. 

We have been delighted to replace our notice boards in the churchyard and at the entrance to the Pastoral Centre using the balance of a Birmingham City Council Local Innovation Fund. In addition we have been able to add to them and now have a church/community notice board. 

We have been fortunate to have been spared congregational deaths from Covid-19 but we were greatly saddened by the death of Clare Blackshaw following a short illness and also Dorothy Giles. Both had been involved in many aspects of church life over the years. May they Rest in Peace and Rise in Glory. 

. 

## Outreach and Serving the Community 

Beer and Hymns at the local pub was the last thing we did in the community prior to lockdown. Evening Prayer at the YMCA had to stop, as did the Community Choir, the Stay and Play Group and all the activities in the Pastoral Centre. However, links with Masefield Community Garden have continued and enabled bird boxes to go up in the churchyard. 

We invested heavily in the maintenance of the churchyard during 2020 and, in a sense, this well-tended green space became our gift to the locality as many enjoyed their permitted daily exercise within it. 

3 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF eenes Ss REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 

We were able to engage with the community in many new ways through #NorthfieldRevealed. The project proved nimble in adapting the original plans; the Tapestry Project aspect proved to be a great community activity during lockdown and much of the work with schools has been completed Northfield Stakeholders Group has co-ordinated the food bank and lots of other emergency support with meetings being held weekly for many months. | made them a diary priority along with local Ward Meetings for many months but have been delighted to start sharing the load with Revd Theresa. In recent months we have both become Covid-champions too 

## Our Charitable Giving has continued in various ways: 

Financially: we estimate that members of St Laurence Church raised over £3,000 for the following causes; 

- ° £100 donation to CofE Birmingham’s link Dioceses in Malawi, . 20 bags of food and goods delivered to Northfield Food Bank plus a good number of congregational donations through their fundraising page plus £302 donated through church for their Christmas Food Hampers, 

- . Also a good number of Mothers’ Union member donations to their appeal for the Democratic Republic of Congo, 

- ° £400 Christian Aid Harvest appeal and an unknown amount during Christian Aid week as at that stage we weren't able to track on-line donations but usually in the region of £1,000, 

- ° Just over £1,000 Children’s Society. 

## People Power with Churches Together in Northfield 

   - . 

- Community Christmas providing circa 60 Christmas Goody Bags personally delivered on Christmas Day. 

## Governance 

St Laurence PCC is governed by the Parochial Church Council Powers Measure 1956 as amended and the Church Representation Rules. Regarding Risk Management, the Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

The governing body is the Parochial Church Council (PCC) which quickly adapted to Zoom and has met far more frequently than usual but since March 2020 has absorbed the work of the 3 sub-committees namely Fabric, Worship and Social & Fundraising. 

The PCC considers Health and Safety and Safeguarding at each meeting and we continue to improve our practice. We employ two members of staff in administration, sexton duties and caretaking and we continue to be committed to paying at least the Living Wage Foundation’s minimum rates. 

The Church of England operates a Synodical System of Governance and we have played our part with active contributions to the Deanery Synod with Anne Pycock serving as Secretary. Our Lay Reader, Janice Wones, serves on the Diocesan Reader Committee. Our Mothers’ Union Branch Leader is also a Vice-president and trustee of Birmingham Diocesan Mothers’ Union and Anne Pycock serves on the Faith & Policy Committee. The Rector is one of the Bishop’s Advisers on Funeral Ministry which includes running a training day for newly ordained deacons — on Zoom in 2020! 

4 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 

## Finance 

Christian stewardship involves the commitment of time and talents as well as finances. A major review of financial stewardship was due in 2020 but will be undertaken in 2021. 

As noted in last year’s accounts our finances have been adversely affected by Coivd-19. We have particularly lost income from collections at services as well as fees from fundraising, weddings and funerals as well as from community bookings in the Pastoral Centre. However, planned giving and other donations from church people have held up well and we received a legacy of £60,000 which we plan to use pay for the proposed new lighting system. Some ways of being able to donate electronically have attracted unexpected donations. We have also benefited from the receipt of restricted grants this year totalling £48,650. We would like to give thanks to The National Lottery Heritage Fund (£32,850), Harlow Trust, administered by Keble College, (£10,000), Edward Cadbury Trust (£5,000) and Baron Davenport's Charity (£800) for their support. We furloughed our caretaker/sexton for some of the time and have benefitted by £6,676 from the government scheme. Due to the closure of the church building, church running costs are down by about 60%. In respect of Common Fund, in 2020 the PCC committed to 'narrowing the gap' between what we were paying and the ask from CofE Birmingham. We agreed a 10% increase on the previous year, but later in the year all parishes were asked to see if they could help more because of Covid. The 2020 ask was £68,019 (but less 2% discount = £66,659 if we pay regularly which we do.) We originally agreed with the Diocese to pay £57,200, but by June we were paying a little ahead of this and the PCC agreed we would keep on 'being a bit ahead’ as our response to the additional ask. In total we paid £60,040. Itis worth noting that in 2018 we paid in full the amount asked £49,498. We were aware that we were receiving in effect a subsidy of circa £20,000. In 2019 the method of assessment was changed and we started being asked for an amount which was more realistic. Note: Common Fund covers the cost of clergy, training and some Diocesan costs. 

Our investments increased slightly in value during the year, despite the significant mid-2020 drop reported in last year’s accounts. We give thanks that overall, we are blessed with sound finances, and a congregation with generous hearts. We recognise that we need to use our wealth appropriately for the maintenance and renovation of our buildings and be generous in our funding of the mission of God’s church. 

Psalm127.1 Unless the Lord builds the house, those who build it labour in vain. 

Lord, we thank you for past generations who have built and preserved St Laurence Church. Grant us unity in your vision of how it should be renewed to continue to witness to your saving love. Grant us, too, the patient courage to take forward your vision; we ask this in Jesus’ name. Amen 

Psalm 90.17 May the gracious favour of the Lord our God be upon us; prosper our handiwork; O prosper the work of our hands 

The Revd Canon Janet E. Chapman Rector May 2021 

, 

5 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF 

‘ 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 

Wn Approved by the Parochial Church Council on IS June 2021 and signed on its behalf by: 


**----- Start of picture text -----**<br>
Trustee (PCC member) Trustee (PCC member)<br>Kecloy “Te gsturer<br>**----- End of picture text -----**<br>


6 



## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF nn SPP OPST. LAURENCE,neNORTHFIELD, i eeBIRMINGHAM.Lee se ee 

## Independent Examiner's Report to the PCC of The Ecclesiastical Parish of St. Laurence, Northfield, Birmingham 

» 

| report on the accounts for the year ended 31 December 2020, which are set out on pages 4 to 16. 

## Respective responsibilities of The PCC and Independent Examiner. 

The members of the PCC are responsible for the preparation of the financial statements. The PCC consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is required. 

## It is my responsibility to 

- examine the accounts under section 145 of the Charities Act 2011 

- follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)b of the Charities Act 2011 

- state whether particular matters have come to my attention. 

## Basis of 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 charity 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 the PCC concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit and consequently | do not express an audit opinion on such matters. 

## 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 respect the requirements 

- to keep accounting records in accordance with section 130 of the Charities Act 2011; or 

- - to prepare accounts which accord with these accounting records have not been met: or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. 

## Mr R B Welch MA FCA 

John Ellis & Co Ltd The Barn, 173 Church Road Northfield 

Birmingham B31 2LX 

Date 22:06,4%..Y0.: 208AACE. 

7 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

; 

## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 

||Note|Unrestricted Funds|Unrestricted Funds|||TOTAL|TOTAL|
|---|---|---|---|---|---|---|---|
|||Ordinary|Designated||Restricted|FUNDS|FUNDS|
|INCOME & ENDOWMENTS from:||Funds|Funds||Funds|2020|2019|
|||£|£||£|£|£|
|Donations, legacies & grants|2(a)|52,501|60,000||48,650|161,151|73,838|
|Appeal donations|2(b)|-|-||95|95|2,155|
|Charitable activities||||||||
|- to further the Council's objectives|2(c)|41,558|-||16,139|57,697|66,900|
|- to generate funds|2(d)|1,172|-||-|1,172|6,628|
|Investments|2(e)|4,637|6||-|4,642|4,400|
|Other income|2(f)|391|-||=|391|1,190|
|TOTAL INCOME & ENDOWMENTS|(page 13)|100,258|60,006||64,884|225,148|155,111|
|EXPENDITURE on:||||||||
|Grants and Charitable donations|3(a)|-|-||13,390|13,390|-|
|Activities directly related to the work of the Church|3(b)|117,508|-||23,411|140,919|138,018|
|Charitable activities|3(c)|-|-||2,500|2,500|285|
|Other|3(d)|2,131|-||-|2,131|3,498|
|TOTAL EXPENDITURE|(page14-15)|119,639|-||39,301|158,940|141,801|
|NET INCOME/ (EXPENDITURE)||(19,381)|60,006||25,583|66,208|13,310|
|TRANSFERS BETWEEN FUNDS|9|9,942|(9,942)||-|-|-|
|NET INCOME/ (EXPENDITURE) AFTER||||||||
|TRANSFER OF FUNDS||(9,439)|50,064||25,583|66,208|13,310|
|GAINS/(LOSSES) ON INVESTMENT ASSETS||||||||
|- realised||=|=|||=|-|
|- unrealised||19,478|-||-|19,478|39,352|
|||||—||||
|NET MOVEMENT IN FUNDS||10,039|50,064||25,583|85,686|52,662|
|BALANCE B/FWD AT 1 JANUARY 2020|10|425,171|9,936||77,103|512,211|459,548|
|BALANCESC/FWDAT31DECEMBER2020|9|435,210|60,000||102,687|597,897|512,211|



8 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

; 

: 

BALANCE SHEET AS AT 31st DECEMBER 2020 

||Note|2020|2019|
|---|---|---|---|
|||£|£|
|FIXED ASSETS||||
|Tangible fixed assets<br>Investment assets|5(a)<br>5(b)|185,721<br>265,061|185,999<br>241,035|
|Total Fixed Assets||450,781|427,034|
|CURRENT ASSETS||||
|Debtors and Prepayments|7|15,485|21,041|
|Central Board of Finance Deposit Account||68,335|2,484|
|Cash at bank and in Hand||67,991|71,202|
|Total Current Assets||151,811|94,727|
|LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR||||
|Creditors and accrued expenses|8|(4,695)|(9,550)|
|Net Current Assets||147,116|85,176|
|NETASSETS||597,897|512,211|
|FUNDS||||
|Unrestricted<br>Designated<br>Restricted|9<br>9<br>9|435,210<br>60,000<br>102,687|425,171<br>9,936<br>77,103|
|||597,897|512,211|



Approved by the Parochial Church Council on 1[June][2021][and][signed][on][its][behalf][by:] 

a ] Trustee (PCC Member) Trustee (PCC Member) Kef ttov— The notes on pages 6 to 16 form part of these accounts.“Treasurer 

9 



, 

## THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. i NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

## 1. ACCOUNTING POLICIES 

The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 and under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard 102, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. 

Income and expenditure is generally recognised within the accounts when receivable or payable. 

## Funds 

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. 

## Incoming Resources 

## Voluntary income and capital sources 

Collections are recognised when received by or on behalf of the PCC. 

Planned giving receivable under covenant is recognised only when received. 

Income tax recoverable on covenants or gift aid donations is recognised when donations to which they relate to is received and the claim has been agreed for HM Inspector of Taxes. 

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due. 

Funds raised by fundraising and similar events (activities directly related to work of the church) are accounted for gross. 

Sales of books, cards and candles are accounted for gross. 

## Other ordinary income 

Rental income from the letting of the Pastoral Centre facilities, The Barn and Car Park are accounted for when receivable. 

Parochial fees due to the PCC for weddings, funerals etc. are accounted for when received with the exception of wedding deposits paid in advance for the following year and are net of fees payable to the Diocese. 

10 



ae 

# THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

## 1. Accounting policies (continued) 

Payments received from the Government Coronavirus Job Retention Scheme for furloughed employees is netted off against gross payroll expenses. 

Income from investments 

Dividends and interest are accounted for when receivable. 

## Gains and losses on investments 

Realised gains or losses are recognised when investments are sold or exchanged. Unrealised gains or losses are accounted for on revaluation of investments at 31st December each year. 

## Resources Used 

Expenditure is accounted for on an accruals basis except where appropriate it is on a matching 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. 

## Grants and charitable donations 

Grants and charitable donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. 

## Activities directly relating to the work of the church 

The diocesan quota or parish share is accounted for when payable. The quota has been paid in full during the year. 

## Fixed Assets 

## Consecrated land and buildings and movable church furnishings 

Consecrated and beneficed property is excluded from the accounts by s.10 (2)(a) and (c) of the Charities' Act 2011. 

No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed. 

11 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

"3 . 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

Other land and buildings 

No depreciation is provided for on The Pastoral Centre and The Barn as the current estimated residual values of the properties are not less than their carrying value and the remaining useful life of these assets exceeds 50 years. 

Other fixtures, fittings and office equipment 

Equipment used within the church premises is depreciated on a reducing balance basis at 25%. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. 

Investments Investments are valued at market value at 31 December each year. 

## Current Assets 

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors Current Liabilities 

Amounts owing by the PCC for goods and services received and are creditors at 31st December. This also includes amounts due to other institutions and individuals where the PCC acts as an agent. Defered income is in respect of wedding deposits in advance. 

## Taxation 

The church is exempt from tax on its charitable activities 

Pension costs and other post-retirement benefits 

Contributions are made to an auto enrolment pension scheme for those staff that are eligible and have not opted out. 

12 



: THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

|2|INCOME & ENDOWMENTS||||||
|---|---|---|---|---|---|---|
|||Unrestricted Funds|||TOTAL|TOTAL|
|||Ordinary|Designated|Restricted|FUNDS|FUNDS|
|||Funds|Funds|Funds|2020|2019|
|||£|£|£|a|£|
|2(a)|Incoming Resources from donors, legacies & grants||||||
||‘Planned Giving<br>Collections<br>Donations<br>Income Tax recoverable including GASDS<br>Grants<br>Legacies|36,491<br>2,772<br>5371<br>7,867<br>-<br>-|-<br>-<br>-<br>-<br>-<br>60,000|-<br>-<br>-<br>-<br>48,650<br>-|36,491<br>2,002<br>5,371<br>7,867<br>48,650<br>60,000|37,969<br>12,849<br>8,857<br>12,052<br>1,110<br>1,000|
|||52,501|60,000|48,650|161,151|73,838|
|2(b)|Other Voluntary Income||||||
||Appeals|-|-|95|95|2,155|
|2(c)|Income from operating activities:||||||
||to further the Council's objectives||||||
||Long term rental of PCC property (Barn and car park)<br>PCC Property community income<br>Wedding & Funeral Fees (net of fees to Diocese and|13,358<br>20,156|-<br>-|-<br>-|13,358<br>20,156|11,879<br>30,525|
||reimbursement of heating and organ upkeep)|8,044|-|16,139|24,183|24,496|
|||41,558|-|16,139|57,697|66,900|
|2(d)|Income from operating activities:||||||
||to generate funds||||||
||Otherfund raising activities|1,172|-|-|1,172|6,628|
|2(e)|Investment Income||||||
||Interest<br>Dividends|64<br>4,573|6<br>-|-<br>-|70<br>4,573|137<br>4,263|
|||4,637|6|-|4,642|4,400|
|||ee|||||
|2(f)|Otherordinaryincoming resources||||||
||Tea & Coffee<br>Candles, cards, books etc|195<br>196|-<br>-|-<br>-|195<br>196|587<br>603|
|||pe<br>CC|||||
|||391|-|-|391|1,190|
|||i,|||||
|TOTALINCOME &ENDOWMENTS||100,258|60,006|64,884|225,148|155,111|
||a||||||



13 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF 

a 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

- 3 EXPENDITURE 

|3|EXPENDITURE||||||
|---|---|---|---|---|---|---|
|||Unrestricted Funds|||TOTAL|TOTAL|
|||Ordinary|Designated|Restricted|FUNDS|FUNDS|
|||Funds|Funds|Funds|2020|2019|
|||£|£|£|£|£|
|3(a)|Grants andcharitable donations||||||
||Donations<br>Northfield Revealed|-<br>-|-<br>-|-<br>13,390|-<br>13,390|-<br>7|
|||-|-|13,390|13,390|-|
|3(b)|Activities directlyrelating to||||||
||the work ofthe Church||||||
||Ministry<br>Diocesan Common Fund|60,040|-|-|60,040|51,720|
||Travel, training and Ministers’ expenses|230|-|94|323|810|
||Church Running Expenses<br>Heating & Lighting etc.<br>(Reimbursment of heating)<br>Insurance|3,185<br>(1,020)<br>7,904|-<br>-<br>-|-<br>-<br>-|3,185<br>(1,020)<br>7,904|7,222<br>-<br>7,091|
||Church Maintenance & Repairs<br>Upkeep ofchurchyard<br>Upkeep oftheservices including organistfees<br>Flowers<br>.|848<br>-<br>1,672<br>-|-<br>-<br>-<br>-|3,547<br>12,920<br>401<br>79|4,395<br>12,920<br>2,072<br>19|1,984<br>2,/87<br>4,844<br>423|
||Legaland professional fees<br>SundaySchooland children's ministry|-<br>229|-<br>-|-<br>-|-<br>229|1,898<br>384|
||Pastoral Centre and Barn running costs<br>Heating & Lighting, water etc.<br>(Reimbursment of heating & lighting)<br>Cleaning and refuse<br>Insurance|9,089<br>(369)<br>1,125<br>759|-<br>-<br>-<br>-|-<br>-<br>-<br>_<br>=|9,089<br>(369)<br>1,125<br>759|8,672<br>-<br>3,255<br>716|
||Maintenance and repairs<br>Depreciation<br>Employment costs<br>Printing, Post, Stationery,Telephone etc|5,767<br>278<br>22,547<br>5,223|-<br>-<br>-|2,987<br>-<br>3,383<br>-|8,755<br>278<br>25,930<br>5,223|7,688<br>371<br>29,944<br>8,207|
||;|a|||||
|||117,508|.|23,411|140,919|138,018|
|||a|||||
||Balances carried forward|117,508|-|36,801|154,309|138,018|
|||a|||ee||



14 



. 

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD,BIRMINGHAM. 

; 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

## 3 EXPENDITURE (CONTINUED) 

|EXPENDITURE (CONTINUED)||||||
|---|---|---|---|---|---|
||Unrestricted Funds|||TOTAL|TOTAL|
||Ordinary|Designated|Restricted|FUNDS|FUNDS|
||Funds|Funds|Funds|2020|2019|
||£|£|£|£|£|
|Balances brought forward|117,508|-|36,801|154,309|138,018|
|Costs ofgenerating funds||||||
|Cost of other fundraising activities|-|-|2,500|2,500|285|
||=|S|2,500|2,500|285|
|Church Management and Administration||||||
|Bank charges|60|-|-|60|65|
|Publicity|264|-|-|264|1,128|
|Accounts and Independent Examination|1,500|-|-|1,500|1,500|
|Miscellaneous|308|-|-|308|806|
||2,131|-|-|2,131|3,498|
|TOTALEXPENDITURE|119,639|-|39,301|158,940|141,801|



- 3(c) Costs of generating funds Cost of other fundraising activities 

3(d) Church Management and Administration 

## TOTAL EXPENDITURE 

- 4 EMPLOYMENT COSTS 

|EMPLOYMENT COSTS|||
|---|---|---|
||2020|2019|
||£|£|
|Wages and Salaries|23,900|28,204|
|National Insurance<br>Pension|1,748<br>282|1,525<br>215|
||25,930|29,944|
|Theaveragemonthlynumberofemployeesduringtheyear|2|2|



The average monthly number of employees during the year 

No employees received emoluments in excess of £60,000. 

15 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

° 

; ; 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

## 5 FIXED ASSETS FOR USE BY THE PCC 

## 5(a) Tangible Fixed Assets 

|Tangible Fixed Assets||||
|---|---|---|---|
|||Fixtures||
||Freehold|and||
||property|fittings|Totals|
||£|£|£|
|COST||||
|At 1 January 2020|184,885|8,279|193,164|
|Additions|-|-|-|
|At 31 December 2020|184,885|8,279|193,164|
|DEPRECIATION||||
|At 1 January2020|-|7,165|7,165|
|Charge for year|-|278|278|
|At 31 December 2020|-|7,443|7,443|
|NET BOOK VALUE||||
|At 31 December 2020|184,885|835|185,721|
|At31December2019|184,885|1,114|185,999|



The freehold property comprises the Pastoral Centre and The Barn. The Barn was originally the stables to the Rectory and funds were raised in the 1960's/70's to convert The Barn so that it could be used for youth work. This is still honoured today with the Scouts using part of The Barn for storage and the remaining space is used as offices. No depreciation is made in respect of this. 

Consecrated and benefice property is not included in the accounts in accordance with s96(2)(a) of the Charities Act 1993. 

## 5(b) Investments 

|Investments||||||
|---|---|---|---|---|---|
|Investments|No of|Cost|Market|Market|price|
||Shares/<br>Units|Price|Unit<br>Price|2020|2019|
|||£|£|£|£|
|Central Board of Finance Investment||||||
|Fund Income Shares||||||
|Market price 1 January2020 b/fwd<br>Additions (dividends reinvested)<br>Unrealised gain (loss) on revaluation<br>Market price 31 December2020 c/fwd|7,836<br>235<br>8,071|91,563<br>4,548<br>96,111|19.17<br>20.48|150,189<br>4,548<br>10,587<br>165,323|122,717<br>4,285<br>23,187<br>150,189|
|COIF Accumulation Units||||||
|Market price 1 January2020 b/fwd|483|43,159|188.19|90,847|74,681|
|Disposal<br>Unrealised gain<br>Market Price 31 December 2020 c/fwd|=<br>-<br>483|2<br>-<br>43,159|206.60|-<br>8,891<br>99,738|=<br>16,165<br>90,847|
|Totalinvestmentsat31December2020|8,553|139,270||265,061|241,035|



Within the investments £31,446 are held in the restricted Churchyard fund. 

| 

16 



. 

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

‘ 

, 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

## 6 ANALYSIS OF NET ASSETS BY FUND 

|||Unrestricted Funds|Unrestricted Funds|Restricted Funds|Restricted Funds|Restricted Funds|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||Ordinary|Designated]|Church|Church|Other|||
|||Funds|Funds|Yard|Porch|Funds|2020|2019|
|||£|£|£|£|£|£|a|
||Tangible Fixed Assets|185,721|-|-|-|-|185,721|185,999|
||Investment Fixed Assets|233,614||31,446|||265,061|241,035|
||Current Assets|19,870|60,000|20,530|28,121|23,289|151,811|94,727|
||Current Liabilities|(3,995)|-|-|-|(700)|(4,695)|(9,550)|
||Long term Liabilities|-|=|=|=|=|=|=|
||Fund Balances|435,210|60,000|51,976|28,121|22589|597,897|512,211|
|7|DEBTORS||||||2020|2019|
||||||||£|£|
||Gift Aid Unrestricted||||||9,000|12,016|
||Gift Aid<br>Restricted||||||-|=|
||Rental income (Car Park)||||||1,000|4,000|
||Barn Utilities||||||3,500|3,200|
||PCC Property community income||||||1,985|1,825|
||||||||15,485|21,041|
|8|LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR||||||2020|2019|
||||||||£|£|
||Trade creditors and accruals||||||3,161|8,073|
||Deferred income||||||834|200|
||Agency creditor||||||700|1,278|
||||||||4,695|9,550|



## 8 

17 



. 

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD ,BIRMINGHAM. 

, 

; 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

## 9 MOVEMENTS IN FUNDS AND DETAILS 

||Balance|Incoming|Incoming|Resources|Transfers|Transfers|Realised|Revaluations|Balance|
|---|---|---|---|---|---|---|---|---|---|
||at|Resources||Used||between|Gains/Losses|of|at|
||1 Jan 2020|||||Funds|onInvestments|Investments|31 Dec 2020|
||£||£|3||£||£|S|
|Unrestricted Funds||||||||||
|Ordinary|425,171||100,258|(119,639)||9,942|-|19,478|435,210|
|Designated:||||||||||
|Emergency fund|1,379||6|-||(1,385)|-|-|-|
|Legacies fund|8,557||60,000|-||(8,557)|-|-|60,000|
|Total Designated funds|9,936||60,006|-|-|9,942|-|-|60,000|
|Total Unrestricted Funds|435,108||160,264|(151,832)||-|-|19,478|495,210|
|Restricted Funds||||||||||
|Churchyard fund|53,209||15,070|(16,303)||-|-|-|51,976|
|Flower fund|1,710||-|(79)||-|-|-|1,631|
|Hand bells fund|118||-|-||-|-|-|118|
|McMurray fabric and|5,287.||-|(5,287)||-|7|-|-|
|Ministry education fund|2,158||1,088|(94)||-|-|-|3,153|
|Church Porch fund|9,368||20,000|(1,247)||-|-|-|28,121|
|Organ fund|5,252||51|(401)||-|-|=|4,902|
|Northfield Revealed fund|2||22,850|(15,890)||-|a|-|6,960|
|Safe Spaces fund|=||5,825|||-|-|-|5,825|
||aa|||||||||
|Total Restricted Funds|77,103||64,884|(39,301)||-|-|-|102,687|
||nae<br>genre<br>CEEOe|||||||||
|Total Funds|512,211||225,148|(158,940)||-|-|19,478|597,897|
||aag<br>ee<br>SE|||||||||



## DESIGNATED FUNDS 

The designated funds are used to place funds which the PCC wishes to set aside for future projects and are as follows: 

## Emergency fund 

The income in this fund is increasing each year due to interest received on money held in a bank account in the funds name. The PCC may use this fund for any emergency expenditure. 

## Legacies fund 

The income in this fund is generated by legacy donations and the expenditure of this fund is decided by the PCC and not used for the general running of the church. 

18 



THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. LAURENCE, NORTHFIELD ,BIRMINGHAM. 

. 

## NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

9 MOVEMENTS IN FUNDS AND DETAILS CONTINUED 

## RESTRICTED FUNDS 

The restricted funds are used for the purposes described by the names of the funds. They have arisen as a result of specific fund raising and from legacies and donations which have specified the usage for those funds and are as follows: 

## Churchyard fund 

The income is generated from burials (including ashes) - the portion entitled “contribution to ongoing upkeep of the churchyard.” It can be drawn down for the proportion of the wages of the sexton and the time the administrator spends on these duties and for additional contracted labour as well as upkeep of paths, fencing, legal fees and other matters linked to the churchyard as determined by the PCC. 

## Flower fund 

Income is generated from funerals, weddings and specific donations. Expenditure from the fund includes both fresh and silk flowers, the Christmas Tree and incidentals e.g. oasis and ribbons. 

## Hand bells fund 

Income is generated from donations often from playing the hand bells in the community. Expenditure includes costs of upkeep of the bells, travelling to venues and other expenses for community bell ringing e.g. uniform. 

## McMurray Fabric and Churchard fund 

The fund was donated for the use of replacement fabric and upkeep of the church's assets. 

## Ministry education fund 

The income is generated from the portion of funeral and wedding fees to which SSM ministers, retired clergy and Readers, are entitled and have chosen to waive in favour of St Laurence PCC on the understanding that the money is placed in the ‘Ministry Education (Restricted) Fund’ to enable further training and retreats for clergy and lay people who minister or volunteer at the Church of St Laurence, Northfield (including themselves). Should the fund build up beyond the PCC 3 year budget for these purposes they have consented for the money to be moved into PCC general funds. 

## Church Porch fund 

The income in this fund has be been generated by specific donations and grants given for the building of the interior - church porch. Expenditure from this fund includes labour and materials for the refurbishment and professional architect fees. Organ fund The original money comes from an insurance pay out when the organ was damaged by a lightning strike. The money may be drawn down to cover organ maintenance including regular tuning. It receives regular income from the portion of ‘use of organ’ fee for weddings and funerals. 

## Northfield Revealed fund 

Grants and donations towards the running of a series of events (2020 — 2023) to ‘reveal’ the Northfield conservation area including St Laurence Church to a wider audience. The fund should be fully wound up at the end of the project. 

## Safe Spaces fund 

Income is generated from grants and donations given to fund the running of “Larry’s” — an afterschool club run by St Laurence Church. Monies can be drawn down to cover the running costs incurred e.g heating the Pastoral Centre. 

19 



1HE PAROCHIAL CHURCH COUNCIL OF IHE ECCLESIAS IICAL PARISH OF ST. LAURENCE, NORTHFIELD, BIRMINGHAM. 

.. 

## . NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 

## 19 PRIOR YEAR COMPARISON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2019 

|31 DECEMBER 2019||||||
|---|---|---|---|---|---|
||Note|Unrestricted Funds|||TOTAL|
|||Ordinary|Designated|Restricted|FUNDS|
|INCOME &ENDOWMENTS from:||Funds|Funds|Funds|2019|
|||£|£|£|£|
|Donations|2(a)|73,088|-|750|73,838|
|Other Donations & legacies|2(b)|-|-|2,155|2,155|
|Charitable activities||||||
|- to further the Council's objectives|2(c)|58,355|-|8,545|66,900|
|- to generate funds|2(d)|6,628|-|-|6,628|
|Investments|2(e)|4,390|10|-|4,400|
|Other income|2(f)|1,190|-|-|1,190|
|TOTAL INCOME & ENDOWMENTS||143,651|10|11,450|155,111|
|EXPENDITURE on:||||||
|Grants and Charitable donations|3(a)|-|-|=|-|
|Activities directly related to the work of the Church|3(b)|126,715|-|11,303|138,018|
|Charitable activities|3(c)|285|-|-|285|
|Other|3(d)|3,498|-|-|3,498|
|TOTAL EXPENDITURE||130,498|-|11,303|141,801|
|NET INCOME/ (EXPENDITURE)||13,153|10|147|13,310|
|TRANSFERS BETWEEN FUNDS||-|=|-||
|NET INCOME/ (EXPENDITURE)||13,153|10|147|13,310|
|GAINS/(LOSSES) ON INVESTMENT ASSETS||||||
|- realised<br>- unrealised||7<br>39,352|-<br>-|=<br>-|‘<br>39,352|
|NETMOVEMENT IN FUNDS||52,505|10|147|52,662|
|BALANCE B/FWD AT 1 JANUARY 2019||372,667|9,926|76,956|459,549|
|||nn||||
|BALANCES C/FWDAT 31 DECEMBER 2019||425,171|9,936|77,103|512,211|
|||ce||||



20