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2020-12-31-accounts

Information
Charity details Charity registered number 1133764
Registered Name The Parochial Church Council of the Ecciesiastical Parish
of Holy Trinity Sutton Coldfield
Officers of the PCC
Rector Rev John Routh
Warden s Mrs Ros Dyke
Mr Colin lngley
Treasurer Mr BN Bickerstaff
Secretary Mrs Margaret
Le Brocq
Church Address Parish Church of Holy Trinity Sutton Coldfield
Church
Hill
MN Street
Sutton Coldfield
B72 1TF
Office Address The Trinity Centre
Mill Street
Sutton CoidAeld
B72 1TF
Independent ExamIner Zoe Walsh FCCA
Burrows Scarborough Chartered Accountants
(incorporating
Harwoods		 Chartered Accountants)
1 Trinity Place
Midland
Drive
Sutton Cohtield
B72 1TX
Bankers HSBC PLC
67The Parade
Sutton Coldfield
B72 1PU
Investment managers Birmingham
Diocesan		 Board of Trustees
1 Colmore Row
Birmingham
B32BJ
CCLA Investment Management Ltd
The CBFChurch of England Funds
Senator House
85 Queen Victoria Street
London
EC4V4ET

Unrestricted
Funds		 Designated
Funds		 R~
Funds		 E~
Funds		 TOTAL
2020		 FUNDS
2019
g
Donations
and		 legacies 2a 128,731 21,537 8,411 154,879 167,994
Charitable
activities		 4,852 567 3,974 9,393 28,241
Other trading activities 140 12,171 0 12,311 51,963
Investments 2d 1,825 3,150 4,975 5,242
TOTAL 133,548 37,425 10,385 181,358 253,440
EXPENDITURE ON:
Raising funds 3a 0 0 1,316 1,316 5,884
Charitable
Activities		 3b 130,369 49,325 11,348 1S1,042 232,025
TOTAL 130,369 49,325 12,664 192,358 237,909
NET INCOMEI(EXPENDITURE)
RESOURCES 3, 'I 79 (11,900) (2,279 ) (11,000) 15,532
Transfers
between
funds		 0 11,173 (11,173)
GAINS/(LOSSES) ON INVESTMENT ASSETS
Unre elised 0 16,492 1,942 1,956 20,390 41,562
NET MOVEMENT IN FUNDS 3,179 15,765 (11,510) 1,956 9,390 57,094
RECONCILIATION OF FUNDS
Total funds brought forward 2,741 369,830 67,824 28,326 468,721 411,627
Total funds carried forward 5,920 385,595 56,314 30282 478 111 468,721

Consecrated
building
and re-ordering
Consecrated
and beneficed property was excluded from the Accounts
by s.96(2) ofthe Charities Act 1993.
Other current
legis/ation
requires
heritage assets to be included atcostor valuation
unless
itisimpr~ or
not cost-effective to do so
PCC has foIIowed advice from Diocesan		 Finance Officers that the church should
be treated as a consecrated
buiiiing rather than a heritage asset. Soexpenditure		 on the febnc of the buficfing
is not capitalised.
Expenditure
on furniture
and a new (moveable)
organ console is capitalised.
Unconsecrated
buildings
The cost ofland attributable
to property
is not depreciated.
Other property
is depreciated
on a straight
line		 basis
over the esfimated
fife ofthe asset as follows:
Freehold buildings 50years
Other Fixtures,
Fittings and Office Equipment.
Organ console and related loudspeakers
- purchased
in 2017.		 15years
Fixtures and equipment
acquired as part ofthe development
ofthe Trinity Centre
is written
off over		 15years
Subsequent
additions
are written
off over		 5-10years
Moveable furnishings
for the reordering
willbe written offover		 5-15years
Parish office expenditure is written
offover		 3-5years
Individual
items efequipment
or fixtures costing less than 2750are written offas		 incurred and are not capitalised.
Impairment
ofassets
From time to time the PCC consider the carrying
value ofassets held		 by the PCC and whether their value in the
accounts is a true reflection of their continued
value to the PCC. Ifthe		 PCC considers that the value has been
impaired
an adjustment
is made to the value ofthose assets.
Investments
and Investment
gains:
Investments
are valued at fair value using the bid market value at the		 year end. Any unreatised gains are
recognised
in the Statement of Financial Activities, as are any realised		 gains on disposals.
Net Current Assets
Investments
- Money Market
Current. assert investments
are short term highly tiquid investments. and.are held		 at fair value. These include cash
on deposit and cash equivalents
with a maturtty ofJess than one year.
Debtors and creditors
—within one year
Debtors and creditors with no stated interest rate and receivable or payable
within		 one year are recorded at
transaction
price. Any losses arising from impairment
are recognised		 in expenditure.
Provisions
Provisions
are recogntsed
when the charity has an obligation
at the balance sheet		 date as a result ofa past event.
lt is probable
that an outflow ofeconomic benefits
wilt be required
in settlement
and the amount can be reliably
estimated,
Other matters
Employee benefits
When employees
have rendered
service to the charity, short term employee
benefits to which		 the employees are
entitled are recognised at the undiscounted
amount expected to be paid in exchange for that service. The charity
operates a defined contribution
plan for the benefit ofits employees.
Contrtbutians		 are axpensad as they become
payabte.
TBX
The charity is an exempt charity within the meaning
of schedule 3ofthe Charities		 Act 2011 and is considered to
pass the tests set out in Paragraph
1, schedule 6, Finance Act 2010and therefore		 it meets the definition ofa
charitable
company for UK corporation
tax purposes.
Going concern
The financial statements
have been prepared on a going concern basis as the uustees believe		 that no material
uncertainties
exist. The trustees have considered
the level offunds held and the		 expected level. of income and
expenditure
for 12months
from authorising
these financial
statements.		 The budgeted
iricome and expenditure		 is
sufficient with the level of reserves for the charity to be able to continue as a going concern.

Unrestricted Designated Reslricted Reslricted Endowment TOTAL FUNDS
Funds Funds Funds Funds f020 2019
g g
2INCOME AND ENDOWMENTS FROM:
2a Donations
and legacies
Planned giving:
Free IIINI Offering 86,388 86,388 90,353
Tax refunds
Collections		 on Covenants and gift aid 19,317
1,225		 19,317
1~5		 21,415
6,447
Subtotal 106,930 0 106,930 118/15
Other giving:
Donatiom; 250 866 1,422 5;183
Bequests 11,000 11,000
Grants 17,652 10,144 5,508 33,304 36,548
Gift aid on donations 37 37 851
Contrtbugon from group churches
Other Income 1,986
126737 21 537 ~671 0 154579 11!7994
2b Income from charitable activities
Magazine sales 2,874 2,874 1317
Fees 1,978 1,978 6,807
Letdng ofbuildings: church groups 567 1,580
Fund raising events 3,974 3,974 18,637
4,852 897 3 074 0 9393 28241
2cOther trading activities
Letting of buildings: third parties 140 12,171 12,311 51,963
140 12 171 0 12311 51983
3,150 5,242
1,825 3,150 0 4975 5242
TOTAL INCOMING RESOURCES 133,548 37,425 10 385 - 181358 253 440
Prior year 5guresr
2a Donations
and legacies		 129,526 32,574 5,894 0 167,994
2b Income from charitable activies 9,604 0 18,637 0 28/41
2c Other trading activIes 0 51,963 0 0 51,963
2d Investments 1,778 3,464 0 0 5/42
0 253,440

Unrestricted Designated Restricted Endowment TOTAL FUNDS
Funds Funds Funds Funds 2020 2019
F R rI
3 EXPENDITURE GN:
3aRaising Funds
Friends events 1,316 1,3'le 5,664
0 1,316 0 1,31B 5,884
3b Charitable
Activities
The Ministry
Dioceam Common Fund 68,775 68,775 72,05'I
House expenses &agowances 7,03'I 7,031 8,595
The Church
& Perish Expenses		 0 0
Administration-staff 22,225 19,943 42,168 44,451
Administration-other 4,883 4,663 8,376
Independent
examiners		 fees 1,580 1,580 1,500
Worship 4,093 4,093 4,752
-Buildings
running		 costs 13,871 13,871 20,837
Fvent costs 98 98 598
Groups and activities 1,550 1,550 2,-446
The Trinity Centre expenses 3,121 9,233 12,354 24,363
Heritage Project expenses 11,348 11,348 9,071
Buildings costs 0 0
Depreciation
of assets		 759 11,635 12,394 12,703
Church Fabric Maintenance 4,763 6,697 1f,950
Costs associated with reordering 0 0
Trinity Centre Maintenance 3,751 3,751 1.1,229
Grants 0 0
Donations to charity 869 1,105
130,369 49,325 11,348 0 191042 212025
TOTAL-RESOURCES EXPENDED 130,369 49.325 12;664 0 192,358 237,909
Prior year figures:
3a Raising Funds 0 0 5,884 0 5,884
3b Charitable
Activities		 150,828 63,246 17,951 0 232,025
150,828 B3,246 23,835 0 237,909

FREEHOLD
PROPERTY EQUIPMENT TOTAL
Trinity The Trinity
Centre Church Centre
Jttcost
Balance 1 January 2020 873,466 166,768 286,153 1,326,387
Additions 5,044 5,044
Disposals
Balance 31 December 2020 166,768 1,331,431
Depreciation
Balance 1 January 2020 121,743 74,808 272,994 469,545
Charge for period 9,122 3,272 12,394
Oispusats
Balance 31 December 2020 121,743 83,930 276,266 481,939
Impairment
ofassets
Baiance 1 January
and 31December 2020 751,723 751,723
Net BookValue
At31 December 2020 112,838 14,93'I 97,769
At 31 December 2019 91,960 13,159 195,119

At 1 January 2020 251,913
Revaluation
- unrealised		 gains 20,390
- unrealised losses
At 31December 2020 272,303
Cost Market 2020 Market
No of
Shares		 at
31-Dec-20		 Surulus Value
31-Dec-20		 Surplus/
~icit		 Value
31-Dec-19
F F f.
Designated
funds
Renewal
Fund
Church of England
Investment
Charinco
Income Fund		 Fund ( ) 4,825 7,034
2,650		 91,621
1,866		 98,655
4,516		 6,372
147		 92,283
4,369
Church of England Investment Fund (") 221 136 4,272 4,408 285 4,123
Trinity Centre Maintenance
Church ofEngland investment Fund (') 2,1D4 3D,ODD 74,382 104,382 9,688 94,694
39,820 172,141 211,961 18,492 195,469
Restricted Fund
Assistant
Curates Fund
Church ofEngland Investment Fund (*) 1,507 925 29,135 30,060 1,942 28,118
Endowments
Clara Fowler Charity
Church ofEngland Investment Fund (") 1,481 1,678 28,604 30,282 1,956 28,326
Total at 31 December 2020 42,423 229,880 272,303 20,390 251,913
At 31 December 2019 42,423 209,490 251,913
9 FUNDS Unrestricted Designated Restricted Endowment
Funds Funds Funds ~Fds TOTAL
Restricted/Endowment
funds
held
in investments
Dsrs Fow/er endowment 30+82 30+82
Assistant Curates Fund 30,060 30,060
Unresbicted
Fund
income 8 Expenditure
AK (Note 11)		 5,920 5,920
Other Funds - Designated/Restricted
Renew@ Fund (Note 12) 241,396 0 241,396
Fabric Fund (Note 13) 43,605 22,348 65,953
Trinity Centre Opersbng
Fund (Note 14)		 953 0 953
Trln/ty Centre Maintenance Fund (Note 15) 99,641 0 99,641
Friends of Holy Tnnfty (Note
Heritage Project (Note 17)		 16) 5,1128 0
0
885585		 3,906
0
58
14		 "8282 3,906
0
478 '111
ANALYSIS OF NET ASSETS
Fixed Assets - Investments 0 211,961 30,06Q 30,282 272,303
Fixed Assets - Tangible assets 1,517 96,252 0 0 97,769
Current Assets 33,689 87,034 5,751 126,474
Current
Liabilities		 (14,768) (2,508) (1,159) (18,435)
LiabiMies due after more than one year
Inter-fund
Balances		 (14,518) (7,144) 21,662
Total 5,920 385595 56,314 30,282 478 11'I
Prior yeer figures
RestrictedfEndowm
ent funds
held in investments
Clara Fowler endowment 28,326 28,326
Assistant Curates Fund 28,118 28,118
Unrestricted
Fund
income 8 Expenditure
A/C		 (Note 11) 2,741 2,741
Other Funds - Designated/Restricted
Renewal Fund (Note 12)
Fabric Fund (Note 13)
Trinity Centre Operating
Fund (Note 14)
Trinity Centre Maintenance
Fund (Note 15)
Friends of Holy Trinity (Nots 16)
Heritage Project (Nate 17)		 222,398
43,354
2,547
101,529
0
Q		 0
27,112
0
0
1,248
11,346		 222,398
70,466
2,547
101,529
1,248
11,346
Rounding 2 2
Total at 31stDecember 2019 389,830 67,824 28326 488,721
Analysis of Net Assets
Fixed Assets - Investments		 0 195,469 26,118 28,326 251,913
Fixed Assets - Tangible assets 2,276 102,843 0 0 105,119
Current Assets 22,006 79,302 24,800 0 126,108
Current
I iabiMies		 (8,8'l2) (4,087) (1,520) (14,419)
LiabiMies due after mere than ene year 0
Inter-fund Balances
Total at31stDecember 2019		 (12729)
(3,697)
2741,
369,830		 16,426
67,824		 28,326 468,721
2020
E
10 IFINANCIAL INSTRUINENTS
The carrying amounts
ofthe		 charity's financial instruments are as follows:
Measured
at		 fair value through net incorrje/expenditure:
Fixed asset investments (note 6) 272,303 251,913
Current asset investments 114,313 122,403
386,616 3?4,316
Debt instruments
measured		 at amortised cost
Other debtors (note 7) 1,683
1,683
Financial
liabilities mesaured		 at amortised cost
Other creditors (note 8) 18,435 14,419
18,435 14,419
2020 2019
F
11 INCOME AND EXPENDITURE ACCOUNT
INCOMING RESOURCES
Planned giving Free Will Offering 86,388 90,353
Tax refunds
(giR aid)		 19,317 21,415
Cogections 1,225 6M7
118,215
Other Voluntary Income Donations
&Grants		 7,107
Grants to assist with costs
during Covid-19 restrictions 12,902
Bequests
Other income 1,843 4,204
Income from Activities to Fund Raising Events
further the PCC obiectives Church
roonl htre		 'I40 1,580
and Activities forgenerating Social/Other
events
funds 140 1,680
Fees 1,978 6,807
Magazine
&book sales		 2,874 1,217
income from Investments interest and dividends 1,826 1,778
133,548 140,908
EXPENDITURE
Grants Special collections and appeals-restricted 669 1,106
Event costs 98 596
767 1,701
Activities relating to the work ofthe Church
Clergy housing &expenses Housing costs 4,989 5,819
Expenses and allowances 2,042 2,776
Administration Staff 22,225 21,992
Office and Security 2,508 1,157
Printing 8 Stationery 1,362 3,984
Sundries 793 1,235
Music including
organ 8 honoraria		 2,760 3,815
Other resources
inct requisites		 1,333 937
Contribution
to Ttie Trinity Centre costs		 3,121 6,120
Buildings Heat light and water 2,583 9,845
Insurances 11,288 10,992
Depreciation 759 1,503
Youth, adult groups and outreach 1,550 2,446
Common
fund to Diocese		 68,775 72,051
Sub-total 144,672
Fabric Repairs and maintenance 1,934 2,955
Governance Audit fees 1,580 1,500
Surptusf{deftctt) for-year 3,179 {9,920)
Transfer from Renewal Fund {Note12) 12,600
3,179 2,580
Balance at 1 January 2020 2,741 161
Balance at 31 December 2020 2,741
2020 2019
F
12 RENEWAL FUND
lncolTle Legacies (designated) 11,000
Donations
(restricted)		 866 3„689
Grants {restricted) 5,000
Grants re VAT (Listed Places ofWorship) 508 24,841
Gift aid on donations (restricted) 37 851
Interest 8 dividends (designated) 3,147 3,455
20,558 33,036
Expenditure Works on building
Depreciation		 ~is.m (115)
{8,476)
(8,364) (8,591)
Surplus/(deficit) in year 12,194 24,445
Balance at 1January 2020 222,398 187,144
Transfer to General
I &E account (Note
Transfer from Trinity Centre Maintenance		 11)
Fund (Note 15)		 {12,500)
8,000
Unrealised increase/{reduction)
in investments
on revaluation		 6,804 15,309
Balance at 31 December 2020 241,396 222,398
being:
Designated		 ' 241,396 222,398
Restricted 0 0
241,396 222,398

IC FUND
Income Donation - designated 25D
Dividends and interest - designated
Expenditure - restricted (4,763) (8,860)
Surplus for year ,8
Balance at 1 January 2020 70,466 64,344
Transfer from Friends ofHoly Trinity {Note 16) - restricted 15,000
Balance at 31 December 2020 65,953 7D '466
being:
Designated 43,605 43,355
Restricted 22,348 27,'l11
65,953 70,466
Page 20
2020 2019
E
Letting income 12,738 51,963
Other income 143 2,993
Grants to assist with costs
during Covid-19 restrictions 10,144
23,025 54,956
Expenditure Salaries 19,943 22,458
Heat, light and water 5,279 I3,782
Office expenses 2,657 2,626
Maintenance 2,172 11,229
Cleaning
and waste		 2,335 5,802
Insurance 'I,598 1,599
Sundry 409 555
Equipment 76
Depreciation 3,271 2,724
PCC Contribution to costs -3,121 (6,120)
Total Expenditure 34,619 54,655
Surplus/(deficit) on operations (11,594) 301
Balance at 1 January 2020 2,547
Transfer from
T~frorn		 Renewal
Fund (Note 12)
Trinity Centre Maintenance		 (Note 15) 10,000 2,000
Balance at 31 December 2020
16 THE TRINITY CENTRE MAINTENANCE FUND
Income - Dividends
and interest		 3
Expenditure (1,579)
Surplus/(Deficit) for year (1,576)
Balance at 1 January 2020 101,529 94,172
Unrealised increase/(reduction) in investments on revaluation 9,688 17,350
Transfer to Trinity Centre Operations Fund (Note l4) (10,000) (2,000)
Transfer to Renewal Fund (Note 12) (8,000)
Balance at 31 December 2020 99,64'I 10l,529
Page 21
16 FRIENDS OF HOLY TRINITY SUTTON COLDFIELD OF HOLY TRINITY SUTTON COLDFIELD
Income
Membership		 570 930
Donations 627 679
Gift Aid on membership
Event tickets		 and donations 214
1,840		 224
11,180
Other event income 373 1,773
Sponsorship 350 3,850
3,974 18,636
Expenditure:
Performance
and event costs
Advertising
and promotions
Bank charges and sundry costs		 307 5,017
539
327
1,316 5,883
Surplus for year 2,658 12,753
Balance at 1 January 2020 1,248
Transfer to Fabric Fund (Note 13) (15,000 )
Balance at 31 December 2020 1,248
Income
Grant from Heritage		 Lottery Fund 5,894
5,694
Expenditure:
Maintenance
ofweb-site
Materials,
equipment
and other costs		 3,600
2,746		 420
8,65'I
Book publication 5,000
11,346		 9,071
Surplus for year (11,346) (3,177 )
Balance at 1 January 2020 11,346
Batance at31December 2020 11,346