**ANNUAL Report of the Parochial Church Council of St Philip’s Dorridge with St James Bentley Heath, in the benefice of Dorridge and Bentley Heath, for the year-ended 31[st] December 2021.** The Parochial Church Council (‘PCC’) is pleased to present its reports and financial statements for the year-ended 31[st] December 2021. ## **Reference and Administrative Information** ## **Charity Name: Parochial Church Council of St Philip’s Dorridge with St James Bentley Heath, in the benefice of Dorridge and Bentley Heath.** **Charity Registration Number** 1133831 **Office** St Philip’s Church Centre, Manor Road, Dorridge, Solihull, B93 8DX. ## **PCC** Members of the PCC who are trustees for the purpose of charity law and who served during the year and up to the date of this report (unless indicated otherwise) are set out below: ## **Ex Officio Members of the PCC** ## **Elected Members** Rev Duncan Hill-Brown (Vicar + Chair) Colin Revans (Lay Chair) Derek Timms (Church Warden) Andy Carswell (Hon Treasurer) Heather Tomson (Church Warden) David Archer Stephen Street **Elected Members of the Deanery Synod** Lisa Maines Carol Linfield Peter Marshall Caroline Egan Richard Arbuthnot Sarah Sasse ## **Independent Examiner** Jeremy Kitson Prime Chartered Accountants 1 Homer Road Solihull West Midlands, B91 3QG. ## **Bankers** HSBC Bank Plc 34 Poplar Road Solihull West Midlands, B91 3AF. **ANNUAL Report of the Parochial Church Council of St Philip’s Dorridge with St James Bentley Heath, in the benefice of Dorridge and Bentley Heath, for the year-ended 31[st] December 2021.** ## **Solicitors** Shakespeare Martineau 1 Colmore Square Birmingham B4 6AA. ## **Structure Governance and Management** ## _**Governing Document**_ The constitution and rules for the proceedings of the PCC are set out in the Parochial Church Council Powers Measure (1956) as amended and in the Church Representation Rules. The PCC was registered with the Charity Commission on 28[th] January 2010. ## _**Recruitment and Appointment of PCC**_ There are certain statutory ex officio members of the PCC eg the Vicar and any other clerk in Holy Orders beneficed in or licensed to the parish, any deacon, deaconess or lay workers licensed to the parish; the two churchwardens and persons on the electoral roll of the parish who are also members of the deanery synod, diocesan synod or General Synod. In addition, there are elected members of the PCC who are chosen at the annual parochial church meeting. Those elected must be on the electoral role, be over 16 and be confirmed. Members may also be co-opted by the PCC. ## _**PCC Induction and Training**_ On appointment PCC members are given documents covering background information relating to the workings of the PCC. ## _**Risk Management**_ Members of the PCC have reviewed the major strategic and operational risks which the church faces, in order to be satisfied that systems have been established to enable regular reports to be produced and that all necessary steps have been taken to minimise the effects of all such risks which may exist. ## _**Organisational Structure**_ The PCC normally meets eight to ten times per annum with an agenda and supporting documents circulated to PCC members in advance of each meeting. As required under the Church Representation Rules, the PCC each year appoints a standing committee of five or more members including the Vicar the churchwardens, treasurer and secretary which meets as required to make recommendations and reports to and is accountable to the PCC. The **ANNUAL Report of the Parochial Church Council of St Philip’s Dorridge with St James Bentley Heath, in the benefice of Dorridge and Bentley Heath, for the year-ended 31[st] December 2021.** PCC appoints several reporting committees and working parties to be responsible for particular functions. The church wardens are PCC members and inter alia form a link between the Bishop and the parish. They see that the PCC carries out its responsibilities for the care, maintenance and insurance of the church, its contents, the churchyard and other buildings owned by the PCC and arrange to inspect the fabric of the church each year and report to the annual parochial church meeting. During 2021 the PCC employed a Parish Operations Manager (25 hours a week) and a Parish Communications Manager (25 hours a week). ## _**Remuneration Policy**_ For the posts of Parish Operations Manager and Parish Communications Manager salaries are determined by the PCC after taking advice on comparable posts in the area and the positions filled by open advertisement. ## _**Objectives and Activities**_ The PCC's objective is to promote and to carry out Christian ministry in the parish of Dorridge and Bentley Heath. It is responsible for co-operating with the vicar and promoting the whole mission of the church, pastoral, evangelistic, social and ecumenical. It is also responsible for the maintenance of the churches of St Phillips and St James. The PCC has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives of the PCC and in planning its future activities. ## **Review of the Year and Future Plans** The major event during the year was the completion of the St Philip’s Centre, with the building handed over by the contractors to the church in late summer and the first services being held in early September. Up until then, services had been conducted online. Our current service pattern is as follows; Weekly: Sunday 10am and 6:30pm, Wednesday 10:30am Monthly: 1[st] Sunday 8:45am Breakfast Church The number on the Electoral Roll in April 2021 was 213 (2020: 213) with the Worshipping Community in 2021 being 567 (2019: 642) Since the opening of the new church centre, it is pleasing to see several community organisations hiring our facilities and we are continually receiving enquiries from other **ANNUAL Report of the Parochial Church Council of St Philip’s Dorridge with St James Bentley Heath, in the benefice of Dorridge and Bentley Heath, for the year-ended 31[st] December 2021.** organisations looking to do likewise. Our plans for the future include maximising the use of the church centre for community involvement and to focus on our ministry among young people and families. We are grateful to all the members of the church who have generously invested in the ministry and mission to grow God’s church in Dorridge, Bentley Heath and beyond. We recognise that we can do nothing without ‘God’s hand being with us’ (Acts 11:21). ## **Financial Review** Our financial priorities are; - Invest in youth and children’s ministry - Give away up to 7.5% of regular donations to Mission Beyond the Parish activities - Meet our commitment to the Diocesan Common Fund - Repay the loans incurred on the building project as quickly as possible The PCC continues to be grateful that the ministry of the Church continues to be supported by the generous giving of time, money and talents of many of the Church’s members. The financial resources managed by the PCC are split into three fund types (1) the General Fund (which comprises unencumbered gifts for the general purposes of the church and related expenditures including our Parish contribution to the Diocesan Common Fund) (2) a number of Designated Funds (representing monies given for specific purposes and where the PCC is expressly given the ability to apply unused funds for general purposes) and (3) Restricted Funds where monies are given for specific purposes and can be used for those purposes only. ## _**The General Fund**_ The principal source of income is Parishoners’ giving, the majority of which is gifted aided. Total income in 2021 was £187.7K (2020: £170.0K), up 10% on the previous year primarily driven by increased giving. Expenditure in 2021 was £169.0K (2020: £165.9k), up 2% on the previous year. This resulted in a surplus in the General Fund of £18.8k compared to £4.6k in 2020. At the end of the year there was cash in the bank of £68.5k. ## _**Designated and Restricted Funds**_ We have a designated and restricted fund for ‘Building for the Future’, although it is the intention to merge these into a designated fund. The fund was created in 2013 and its purpose is to raise funds to finance the creation of the new St Philip’s Centre. In March 2020 the PCC approved signing a contract with Keir Construction Ltd to build the first phase of the building (demolish existing buildings and construct new worship centre). In November 2020 **ANNUAL Report of the Parochial Church Council of St Philip’s Dorridge with St James Bentley Heath, in the benefice of Dorridge and Bentley Heath, for the year-ended 31[st] December 2021.** the PCC resolved unanimously to enter into the Phase 2 contract to complete the entire ground floor. To fund Phase 2 the PCC received unsecured loans from Parishioners of £125k and a £300k loan from a 3[rd] party church. Expenditure during the year on the project was £2,761k (2020: £1,214k), leaving approximately £151k due to Keir in 2022 along with Professional fees of £3.6k. At the yearend there was £237k cash in the bank and £465k in outstanding loans. ## _**‘Building for the Future’ (asset handling)**_ Consecrated land/buildings and equipment are not included in the financial statements by virtue of Charities Act 2011. In law ‘consecration’ is not considered to be the same as ‘dedication’ as the latter is no more than an expression of pious intention that the building or land is given back to God. By act of consecration, property is effectively dedicated to God and set aside solely for the sacred purposes. Costs associated with the maintenance or improvement of such assets will be written off in the year they are incurred. _(ref: PCC accountability guide)_ Consequently, and after having taken advice from the Diocese of Birmingham, all expenses associated with the construction of the new building are being written off and not capitalised. ## _**Property Disposal & Revaluation**_ There were no property disposals or revaluations during 2021. ## _**Reserves Policy**_ The General Funds has net reserves of £60.3K (2020: £41.5k), while the Building for the Future Funds had a net deficit of £390.2K (2020: surplus £2,126K). The PCC’s stated policy is that the bank balance in the General Fund should not go below £10k. ## **Annual Accounts** The accounts have been prepared by Andy Carswell (Honorary Treasurer) with invaluable support from David Archer (Honorary Treasurer until 20[th] September 2021) and Liz May (Honorary Bookkeeper). They have been prepared in accordance with the format recommended by the Central Board of Finance of the Church of England to comply with the Charities Act. Peter Hunt continues to deal with all regular giving and Gift Aid matters for which we are truly thankful. **ANNUAL Report of the Parochial Church Council of St Philip’s Dorridge with St James Bentley Heath, in the benefice of Dorridge and Bentley Heath, for the year-ended 31[st] December 2021.** ## **Statement of Responsibilities of the Members of the PCC (the trustees)** The trustees are responsible for preparing the report of the PCC and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practise). The law applicable to charges in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements the trustees are required to: - select suitable accounting policies and apply them consistently; - observe the methods and principles in the Charity's Statement of Recommended Practise; make judgments and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on a going concern basis unless it is inappropriate to assume that the Charity will continue. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Account and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the Charity and the financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions. ## **Independent Examiner** Prime Chartered Accountants have expressed their willingness to continue in office and will be proposed for re-appointment at the Annual Parch Church Meeting. Approved by the PCC on 25[th] April 2022 **Rev Duncan Hill-Brown Chairman of the PCC** **Andy Carswell** **Honorary Treasurer** ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **STATEMENT OF FINANCIAL ACTIVITIES** **for the year ended 31 December 2021** ||||**General**|**Designat**|**Restricted **|**Endowm**|**2021**|**_2020_**| |---|---|---|---|---|---|---|---|---| ||**Notes**||**Fund**|**-ed Funds**|**Funds**|**-ent Funds**|**Total**|**_Total_**| ||||**£**|**£**|**£**||**£**|**_£_**| |**Income and endowments from:**||||||||| |Donations and legacies||2a|181,565|192,135|35,022|0|408,722|_517,982_| |Charitable activities||2b|0|0|2,015|0|2,015|_1,839_| |Other trading activities||2c|5,498|16,091|130|0|21,720|_2,420_| |Investments||2d|434|2|1,612|0|2,048|_16,170_| |Other||2e|224|0|0|0|224|0| |**Total Income and Endowments**|||187,722|208,228|38,779|0|434,729|_538,410_| |**Expenditure on:**||||||||| |Raising funds||3a|12,646|720|250|0|13,616|_12,787_| |Charitable activities|3b & 19||154,268|1,579,707|1,182,953|0|2,916,928|_1,375,633_| |Other||3c|2,040|0|0|0|2,040|_2,040_| |**Total Expenditure**|||168,953|1,580,427|1,183,203|0|2,932,584|_1,390,460_| |||||||||| |**Net income/(expenditure) before transfers**|||18,768|(1,372,199)|(1,144,424)|0|(2,497,855)|_(852,049)_| |**Transfers between funds**|||0|420,000|(420,000)|0|_0_|_0_| |**Net income / (expenditure)**|||18,768|(952,199)|(1,564,424)|0|(2,497,855)|_(852,049)_| |**Other recognised gains (+) /losses (-)**||||||||| |Endowment fund|11 & 16||0|0|0|1,655|1,655|_704_| |Gain on sale of 2 Hurst Green Roa||11|0|0|0|0|0|_0_| |**Net movements in funds**|||18,768|(952,199)|(1,564,424)|1,655|(2,496,200)|_(851,346)_| |**Total funds brought forward 1 January**|||41,518|1,020,235|1,106,178|11,488|2,179,420|_3,030,765_| ||16, 17 & 18|||||||| |**Total funds carried forward 31 December**|||60,287|68,036|(458,247)|13,143|(316,780)|_2,179,420_| All income and expenditure relates to continuing operations. There were no recognised gains or losses for 2021 or 2020 other than those included in the Statement of Financial Activities. Amounts are shown rounded to nearest pound (and so may appear not precisely to add across or down). page A1 Financial Activities ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **BALANCE SHEET AS AT 31 DECEMBER 2021** |**2021**
**2021**
**£**
**£**
**Notes**
**Fixed assets**
Residual land next 6 Manor Rd
11
1
Endowment Fund held by Diocese
13,143
**Current assets**
**Debtors**
12
14,069
**Deposit Accounts**
General - CBF Deposit
0
General - HSBC Deposit
111,730
Bank Deposits
111,730
Diocesan Decoration Fund
377
112,107
**Current Accounts**
Church General
28,227
Church Expenditure
3,540
Friendship Club
0
Buillding
151,670
Bank Accounts
183,436
Cash in Hand
30
183,466
**Total current assets**
309,642
**Creditors:**
**amounts falling due within one year**
13
(249,566)
**Net current assets**
60,075
**Total assets less current liabilities**
73,220
**Creditors:**
**amounts falling due after more than one year**
14
(390,000)
**Net assets**
(316,780)
**Funds**
Unrestricted (General and Designated)
16 & 17
128,323
Restricted
16 to 18
(458,247)
Endowment
4,11 & 16
13,143
**Total Funds**
(316,780)|**_2020_**
**_2020_**
**_£_**
**_£_**
_1_
_11,488_
_22,423_
_1,560,000_
_80,151_
_1,640,151_
377
_1,640,528_
_18,958_
_4,641_
_429_
_670,491_
_694,519_
_9_
_694,529_
_2,357,479_
_(144,549)_
_2,212,930_
_2,224,420_
_(45,000)_
_2,179,420_
_1,061,754_
_1,106,178_
_11,488_
_2,179,420_| |---|---| Approved by the Parochial Church Council on 25th April 2022 and signed on its behalf by: Andrew Carswell Reverend Duncan Hill-Brown Hon Treasurer Chairman The notes on pages A4 to A15 form part of these financial statements. page A2 Balance Sheet ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **STATEMENT OF CASH FLOWS for the year ended 31 December 2021** |_Note_
**Net cash flow from operating activities**
_19_
Rents received from investment properties
Interest receivable
Receipts from sales of investments
**Net cash flow from investing activities**
Long term loans received (net)
**Net cash flow from financing activities**
Net increase / (decrease) in cash and cash equivalents
Cash and cash equivalents at start of year
**Cash and cash equivalents at end of year**
**Cash and cash equivalents consists of:**
Cash at bank and in hand
Short term deposits
**Cash and cash equivalents at end year**|**2021**
£
(2,386,532)
-
2,048
-
**2,048**
345,000
**345,000**
(2,039,484)
2,335,057
**295,573**
183,466
112,107
**295,573**|**_2020_**
_£_
(798,952)
-
16,170
_-_
**16,170**
5,000
**5,000**
_-_
_-_
(777,782)
_3,112,838_
**2,335,057**
694,529
1,640,528
**2,335,057**| |---|---|---| page A3 Cashflow Summary ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** ## **1. Summary of significant accounting policies** ## **(a) General information and basis of preparation** The Parochial Church Council of St Philip's, Dorridge with St James, Bentley Heath is a registered unincorporated charity in the United Kingdom. The address of the registered office is given in the charity information on page 1 of this Report and Accounts. The nature of the charity's operations and principal activities are to promote and to carry out Christian Ministry in the Parish of Dorridge and Bentley Heath. It is responsible for co-operating with the Vicar, Rev'd Duncan Hill-Brown, in promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It is also responsible for maintenance of the churches of St Philip's and St James, and for the church centre including the strip of land that remains adjacent to 6 Manor Road (the former vicarage). The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP FRS 102) issued on 16 July 2014, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2016. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **b) Going concern** The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements show an insolvent balance sheet as a result of building expenditure incurred in the year. The trustees have prepared a cash flow forecast which, along with donations received since the year end, shows that the charity will have sufficient funds to meet their obligation for the next twelve months. ## **c) Funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with the specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page A4 Ac Policies ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** ## **Summary of significant accounting policies - cont'd** ## **d) Income recognition** All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasions legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. ## **e) Expenditure recognition** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. ## **f) Support cost allocation** Support costs are those that assist the work of the charity but do not directly represent charitable activities and include building upkeep and running costs, office costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where suppport costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Page A5 Ac Policies ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** ## **Summary of significant accounting policies - cont'd** ## **g) Tangible Fixed Assets** ## _**Consecrated land and buildings and movable church furnishings**_ By reason of the Charities Act 2011 s10(2)(a) consecrated and beneficed property does not fall under the general requirements of the Charities Act. In consequence of this transactions that relate to such property including fundraising receipts and expenditure on the new church are recorded as income and costs in the Statement of Financial Activities as they arise and no amount has been capitalised or treated as work in progress; although the property is not yet consecrated there is no reason to believe this will not happen once building work is complete and the accounting reflects that expectation. No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which requires a faculty for disposal since the PCC considers this to be an inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities and separately disclosed. ## _**Freehold land and buildings**_ No depreciation is provided on freehold properties on the grounds that, in the opinion of the PCC, given the residual value of properties, the depreciation charge and accumulated depreciation would be immaterial to these accounts. The PCC has taken advice on the carrying value of the properties and a provision is not considered necessary. ## **h) Debtors and creditors receivable / payable 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. ## **i) Loans and borrowings** Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. ## **j) 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. ## **k) Tax** The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Page A6 Ac Policies ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH NOTES TO THE FINANCIAL STATEMENTS** ## **for the year ended 31 December 2021** |**2**
**Income and endowments from:**
**_(a)_**
**_Donations and Legacies_**
Planned giving:
Gift Aided - standing orders and envelopes
Gift Aided - annual and occasional gifts
Gift Aid recoverable on the above
Payroll and CAF Giving
Giving not Gift Aided
Other voluntary giving
Collections (open plate) including GASDS
Building for the Future appeal
Youth Team appeal
Child & Family Ministry appeal
Gift Aid recoverable (on above appeals)
Grants (Building for the Future project)
Other grants and sundry donations
Legacies received
**_(b) Charitable activities_**
Youth Events
Parish & outreach events
Nominated gifts & external appeals
Gift Aid recoverable on nominated gifts
Friendship Club
**_(c)_**
**_Other trading activities_**
Building for the Future project events
Fun Run (including Gift Aid recoverable)
Allsorts Parent & Toddlers Group
St Philip's Church Hall letting
St James Church Hall letting
2 Hurst Green letting (to Diocese)
Fees Charged (net)
Items & Services including card sales
**_(d) Investments (see Note 4)_**
Interest from Bank Deposits
Interest from Endowment Fund
**_(e)_**
**_Other_**
Insurance claim
**Total Income and Endowments**
**_(f)_**
**_Revaluation of Endowment Fund (Note 11)_**
**Total Income and Recognised Gains**|**General**
**Desig-**
**Restr-**
**Total**
**_General_**
**_Desig-_**
**_Restr-_**
**_Total_**
**fund**
**nated**
**icted**
**_fund_**
**_nated_**
**_icted_**
**£**
**£**
**£**
**£**
**_£_**
**_£_**
**_£_**
**_£_**
117,523
-
-
117,523
_112,356_
-
_-_
_112,356_
7,435
-
-
7,435
_5,849_
-
_-_
_5,849_
32,027
-
-
32,027
_28,604_
-
_-_
_28,604_
7,505
-
-
7,505
_15,164_
-
_-_
_15,164_
14,002
-
-
14,002
_5,790_
-
_-_
_5,790_
178,492
-
-
178,492
167,763
-
-
167,763
3,073
-
-
3,073
_1,153_
_-_
_-_
_1,153_
-
166,633
28,818
195,451
_-_
115,922
_57,781_
_173,703_
-
-
3,000
3,000
_-_
_-_
_420_
_420_
-
3,132
-
_3,132_
_-_
_-_
_-_
_-_
-
22,370
3,204
25,574
_-_
_16,935_
_15,808_
_32,742_
-
-
-
-
_-_
6,000
_36,200_
_42,200_
-
-
-
-
-
_-_
-
_-_
-
-
-
_-_
_-_
_-_
_100,000_
_100,000_
181,565
192,135
35,022
408,722
168,916
138,857
210,208
517,982
-
-
-
-
_-_
-
_-_
_-_
-
-
-
-
_-_
-
_394_
_394_
-
-
1,670
1,670
_-_
-
1,260
_1,260_
-
-
345
345
_-_
-
45
_45_
-
-
-
-
_140_
-
_-_
_140_
-
-
2,015
2,015
140
-
1,699
1,839
-
16,091
-
16,091
_-_
1,615
_78_
_1,693_
_-_
_-_
_-_
_-_
_-_
-
_-_
_-_
_213_
_-_
_-_
_213_
_-_
-
_-_
_-_
_4,613_
_-_
_-_
_4,613_
_-_
-
_-_
_-_
-
-
-
-
_536_
-
_-_
_536_
-
-
-
_-_
_-_
-
_-_
_-_
673
-
-
673
_89_
-
_-_
_89_
-
-
130
130
_-_
-
_102_
_102_
5,498
16,091
130
21,720
625
1,615
180
2,420
100
2
1,612
1,714
_-_
_-_
_15,848_
_15,848_
334
-
-
334
_323_
_-_
_-_
_323_
434
2
1,612
2,048
323
-
15,848
16,170
224
-
-
224
_-_
_-_
_-_
_-_
187,722
208,228
38,779
434,729
170,003
140,472
227,935
538,410
-
-
-
1,655
_-_
_-_
_-_
704
187,722
208,228
38,779
436,384
170,003
140,472
227,935
539,114
**2021**
**_2020_**| |---|---| page A7 Income ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **NOTES TO THE FINANCIAL STATEMENTS** **for the year ended 31 December 2021** |**3**|**Expenditure:**||**2021**|**2021**|||**_2020_**|**_2020_**|| |---|---|---|---|---|---|---|---|---|---| |||**General**|**Desig-**|**Restr-**|**Total**|**_General_**|**_Desig-_**|**_Restr-_**|**_Total_**| |||**fund**|**nated**|**icted**||**_fund_**|**_nated_**|**_icted_**|| |||**£**|**£**|**£**|**£**|**_£_**|**_£_**|**_£_**|**_£_**| |**(a)**|**_Raising funds_**||||||||| ||Building for the Future project - fund raising|100|718|-|818|_-_|3,378|_-_|_3,378_| ||Fun Run expenses|-|-|250|250|_-_|_-_|_-_|_-_| ||2 Hurst Green Road repairs|-|-|-|-|_-_|_-_|_-_|_-_| ||Allocated support costs (see Note 5):||||||||| ||St Philip's upkeep|3,739|-|-|3,739|_325_|_-_|_-_|_325_| ||St Philip's running costs (incl insurance)|792|-|-|792|_648_|_-_|_-_|_648_| ||St James's upkeep & running costs|1,430|-|-|1,430|_1,667_|_-_|_-_|_1,667_| ||Administrative salaries etc|6,107|-|-|6,107|_6,060_|_-_|_-_|_6,060_| ||General office expenses|477|2|0|479|_709_|_-_|_-_|_709_| |**(b)**|**_Charitable activities_**
**_Mission, worship and pastoral care_**
Common Fund
Clergy Expenses
Clergy Housing costs
Youth Minister salary etc & expenses
Child & Family Missioner contrib. to Diocese
Youth & Children Activities (gross)
Growth groups & Lay Team expenses
Local Mission costs
Music and worship
Parish & outreach events (gross)
Friendship Club
Allsorts Parents & Toddlers Group
Building for the Future - project costs
Allocated support costs (see Note 5):
St Philip's upkeep
St Philip's running costs (incl insurance)
St James's upkeep & running costs
Administrative salaries etc
General office expenses|12,646
82,911
1,218
511
-
-
386
-
2,341
1,644
1,321
21
123
-
14,957
3,168
5,719
24,430
1,908|720
-
-
-
-
-
-
-
-
-
-
-
-
1,579,699
-
-
-
-
8|250
-
-
-
-
-
142
-
-
-
-
-
-
1,181,336
-
-
-
-
2|13,616
82,911
1,218
511
-
-
528
-
2,341
1,644
1,321
21
123
2,761,036
14,957
3,168
5,719
24,430
1,918|_9,409_
_82,911_
_1,447_
_528_
_16,210_
-
_27_
_-_
_2,146_
_782_
_-_
_77_
_-_
_-_
_-_
_1,302_
_2,590_
_6,669_
_24,241_
_2,835_|_3,378_
_-_
_-_
_-_
_-_
_-_
-
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_|_-_
_-_
_-_
_-_
_4,850_
_-_
_552_
_-_
_-_
_-_
_-_
_-_
_-_
_1,213,769_
_-_
_-_
_-_
_-_
_-_
_-_|_12,787_
_82,911_
_1,447_
_528_
_21,060_
_-_
_579_
_-_
_2,146_
_782_
_-_
_77_
_-_
_1,213,769_
_-_
_1,302_
_2,590_
_6,669_
_24,241_
_2,835_| ||**_Grants (see note 19)_**
Missionary & charitable giving:
Mission & Church Overseas
Relief & Development
Home Missions &c
Change in MBP reserve
Other nominated gifts & hardship grants
Fun Run Charities (external gifts)|140,660
-
9,375
3,125
1,108
-
_-_|1,579,707
-
-
-
-
-
_-_|1,181,480
-
248
974
-
250
_-_|2,901,847
-
9,623
4,099
1,108
250
-|141,764
_-_
_9,544_
_3,125_
_-_
-
_-_|-
-
-
-
-
-
-|1,219,171
_-_
_865_
_1,165_
_-_
_-_
-|1,360,935
_-_
_10,409_
_4,290_
_-_
_-_
_-_| |**(c)**|**_Other_**
Governance (fee for independent examination|13,608
2,040|-
-|1,472
-|15,081
2,040|12,669
_2,040_|-
-|2,030
_-_|14,698
_2,040_| |**Total Expenditure**||168,953|1,580,427|1,183,203|2,932,584|165,882|3,378|1,221,200|1,390,460| page A8 Expenditure **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** ## **4 Interest from endowment fund** |**2021**|**_2020_**| |---|---| |**£**|_£_| |-334|_-323_| This arises from a holding of 562 CBF income shares given by a parishioner in 1957. The capital has to be retained as a permanent endowment fund held by the Diocese on behalf of the PCC, which is entitled only to use the income. This income may be used for unrestricted purposes. ## **5 Support Costs** Of the support costs shown in Note 3, building upkeep and running costs are allocated by estimated usage, and office and governance costs by estimated office time input, as follows:. |**_Raising funds_**
St Philip's upkeep & running costs
St James's upkeep & running costs
Administration, office costs & governance
**_Charitable activities_**
St Philip's upkeep & running costs
St James's upkeep & running costs
Administration, office costs & governance
**6**
**Staff costs**
Wages and salaries
Social security costs (before small business relief)
Pension costs
**7**
**Staff numbers and information**
Head count (average over the year)
Full time equivalents (average over the year)|**2021**
20%
20%
20%
80%
80%
80%
**2021**
**£**
27,511
3,105
3,027
33,642
**2021**
2.00
1.33|**_2020_**
20%
20%
20%
80%
80%
80%
**_2020_**
_£_
48,826
3,136
2,519
59,732
**_2020_**
2.58
1.92| |---|---|---| The PCC employed a Parish Operations Manager and a Parish Communications Manager, both normally for 25 hours a week. Neither of these earned over £60,000 per annum. ## **8 Trustee remuneration, expenses and related party transactions Trustee remuneration and expenses** Revd Duncan Hill-Brown is a member of the PCC. He was reimbursed £1,218 (2020: £1,477) for the clergy operating expenses reported in Note 3. ## **Related party transactions** Members of the PCC provided interest-free loans totaling £70,000 included in Note 14. page A9 Notes 1 ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** ## **8 Related party transactions (continued)** Aggregate contributions to the principal church funds from all PCC members (and their immediate family members) were as follows. |General Fund contributions
'Building for the Future' contributions|**2021**
**£**
41,445
24,270
65,715|**_2020_**
_£_
_30,549_
_41,555_
72,104| |---|---|---| ## **9 Taxation** As a charity the Parochial Church Council of St Philips, Dorridge with St James, Bentley Heath is exempt from tax on income and gains falling within section 478 of the Taxes Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen within the PCC. ## **10 St Philip's and St James's Friendship Club** As reported in the accounts for 2015, the PCC from 1 January 2016 accepted the assets and obligations of the St Philip's and St James's Friendship Club. ## **11 Tangible fixed assets Endowment Fund** |**gible fixed assets**
**owment Fund**||| |---|---|---| ||**2021**|**_2020_**| ||**£**|**_£_**| |Book value at 1 January|11,488|_10,785_| |Revaluation of Endowment Fund|1,655|703.56| |Book value at 31 December|13,143|_11,488_| Under section 10 of the Charities Act 2011, and in accordance with advice from the Diocese of Birmingham, expenditure associated with the provison of new buildings is written off as incurred and is not capitalised. The '9 metre strip' of residual land excluded from the 2016 sale of 6 Manor Road was valued for accounting purposes at £65,000, as explained in the 2015 Annual Report. After this became part of the church site, the PCC resolved to reduce its valuation to one pound at 31 December 2018. The costs of the St James Church building have been written off as incurred, as the PCC does not own the asset, only the right to use it until 2200. Other major building works have been written off as incurred against the St Philip's Building Project Fund, in line with the accounting policy. page A10 Notes 2 ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** |**12**
**Debtors**
**2021**
**£**
Gift aid and GASDS due (general fund)
8,649
End year gifts, interest and gift aid due (designated funds)
2,439
End year gifts and gift aid due (restricted funds)
1,391
Prepayments (insurance etc)
1,591
14,069
**13**
**Creditors: amounts falling due within one year**
**2021**
**£**
Building Project final payments
(156,074)
Giving for Mission Beyond the Parish (balance carried forward)
(4,736)
Other creditors and accruals
(13,756)
(174,566)
_(5,000)_
_(70,000)_
Total
(249,566)
**14**
**Creditors: amounts falling due after more than one year**
**2021**
**£**
(90,000)
Loan from a 3rd party church
(300,000)
(390,000)
**15**
**ANALYSIS OF NET ASSETS BY FUND**
**at 31 Dec 2021 (see Note 11)**
**General**
**Designat**
**Restricted**
**Endowm**
**Fund**
**-ed Funds**
**Funds**
**-ent Funds**
**£**
**£**
**£**
**£**
**Fixed Assets**
Endowment Fund (held by Diocese)
-
-
13,143
Residual land next 6 Manor Rd
-
1
-
-
-
1
-
13,143
**Current Assets**
Debtors (Note 12)
10,240
2,439
1,391
-
Bank Balances
68,539
65,597
161,437
-
Current Liabilities (Note 13)
(18,492)
0
(231,074)
-
**Net Current Assets**
60,287
68,035
(68,247)
-
**Creditors:(amounts**
**falling due after more than one yea**
-
( 390,000)
-
**Total Funds**
**60,287**
**68,036**
**(458,247)**
**13,143**
Concessionary loans from members of the congregation
Concessionary loans from members of the congregation to be
repaid by 31 December 2022
Concessionary loan from 3rd Party Church to be repaid by 31
December 2022|**2020**
**_£_**
_7,112_
_7,217_
_2,029_
_6,065_
22,423
**2020**
**_£_**
_(134,413)_
_(3,628)_
_(6,508)_
(144,549)
_0_
(144,549)
**2020**
**_£_**
_( 5,000)_
_(40,000)_
(45,000)
**Total**
**£**
13,143
1
13,144
14,069
295,573
(249,566)
60,075
( 390,000)
**( 316,780)**| |---|---| page A11 Notes 3 **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** ## **15A ANALYSIS OF NET ASSETS BY FUND (continued)** |**Comparative Figures**
**at 31 Dec 2020 (see Note 11)**
**Fixed Assets**
Endowment Fund (held by Diocese)
Residual land next 6 Manor Rd
**Current Assets**
Debtors (Note 12)
Bank Balances
Current Liabilities (Note 13)
**Net Current Assets**
**Creditors:(amounts**
**falling due after more than one year)**
**Total Funds**|**General**
**Designat Restricted**
**Endowm**
**Fund**
**-ed Funds**
**Funds**
**-ent Funds**
**£**
**£**
**£**
**£**
-
-
11,488
-
1
-
-
-
1
-
11,488
13,177
7,217
2,029
-
38,477 1,013,019
1,283,561
-
(10,136)
-
(134,413)
-
41,518 1,020,235
1,151,177
-
-
( 45,000)
-
**41,518 1,020,236**
**1,106,177**
**11,488**|**Total**
**£**
11,488
1
11,489
22,423
2,335,057
( 144,549)
2,212,930
( 45,000)
**2,179,420**| |---|---|---| **General Fund** - The Church General fund represents the accumulated difference between income and expenditure over the life of this parish, excluding any money given for specific causes. The money in this fund is not restricted or designated and is used for the general running of the church. **Building for the Future (designated) Fund -** When the PCC in 2008 acquired the former vicarage (adjacent to the church site) for future use or disposal within the PCC's vision, it invited gifts designated for its purchase, on the declared intention that if the property was sold the proceeds (after repaying any debt) would be placed into the general funds. The PCC expected these proceeds to be used for the St Philip's building fund, but could not be tied to this use at that time. In October 2018 the PCC resolved to rename this fund as the Building for the Future (designated) Fund, more accurately to describe its current purpose. **Designated Fund (Child and Family Ministry)** - £3,132 has been designated for missionary work among children and families in the parish. **Restricted Funds** - Expenditure from funds shown in Note 17 and 17A is restricted to the purposes shown, comprising PCC Funds for St Philip's Building Project; special appeals for use outside the parish; and other Restricted Funds for use within the parish. page A12 Notes 4 **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **Fund Movements for the year ended 31 December 2021** |**16**
**Unrestricted funds**
**_2020_**
**General fund:**
**Current Assets**
_51,655_
**Current Liabilities**
_(10,136)_
**Net Current Assets**
_41,518_
**Fixed Asset**
_-_
**Total General Fund**
_41,518_
**Designated funds**
Building Project (designated)
_1,020,235_
Child and Family Ministry
_-_
**Current Assets**
_1,020,235_
**Current Liabilities**
_-_
**Net Current Assets**
_1,020,235_
**Creditors: amounts falling**
**due after more than one year**
_-_
**Fixed Asset (see Note 11)**
_1_
**Total Designated funds**
_1,020,236_
**Total Unrestricted Funds**
_1,061,755_
**17**
**Restricted funds**
**_2020_**
**PCC funds**
St Philip's Building Project
_1,148,453_
Loans Fund
_-45,000_
Youth Ministry
_0_
Sub-total
_1,103,453_
**Special appeal funds**
Byumba cards
_-_
Christian Aid lunches
_49_
Goodwill children's homes
_118_
St Basils
_-_
Sub-total
_167_
**Other restricted funds**
Church furnishing
_-_
Diocesan decoration fund
_377_
Fair Trade
_-_
Fun Run
_931_
Hardship fund
_709_
Children's Activities
_-_
Nominated gifts
_540_
Sub-total
_2,557_
**Total Restricted Funds**
**Net Current Assets**
_1,106,177_
**Fixed Asset**
-
**Total Restricted Funds**
_1,106,177_
**Endowment Fund**
CBF Income Shares
_11,488_
**_31 December_**
**_31 December_**
**_31 December_**|**Income**
**Expenditure**
**Transfers**
**2021**
78,779
(18,492)
187,722
168,953
0
60,287
-
-
-
-
187,722
168,953
0
60,287
205,096
1,580,427
420,000
64,904
3,132
-
0
3,132
208,228
1,580,427
420,000
68,036
-
-
-
-
208,228
1,580,427
420,000
68,036
-
-
-
-
-
-
-
1
208,228
1,580,427
420,000
68,037
395,950
1,749,381
420,000
128,324
**Income**
**Expenditure**
**Transfers**
**2021**
32,884
1,181,336
-
-
-
-
420,000
-
( 465,000)
3,750
142
-
3,608
36,634
1,181,479
(420,000)
(461,392)
60
60
-
-
-
49
-
-
70
188
-
-
-
-
-
-
130
297
-
-
-
-
-
-
-
-
-
377
-
-
-
-
-
250
-
681
1,556
250
-
2,016
-
-
-
-
459
927
-
71
2,015
1,427
0
3,145
38,779
1,183,203
( 420,000)
( 458,248)
-
-
-
-
38,779
1,183,203
(420,000)
(458,248)
13,143
1,655
**Revaluation**
**31 December**
**31 December**
**31 December**
**2021**
**2021**| |---|---| page A13 Fund Movements **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **Fund Movements for the year ended 31 December 2020** |**16A Unrestricted funds**
**General fund:**
**Current Assets**
58,930
**Current Liabilities**
(22,033)
**Net Current Assets**
36,897
**Fixed Asset**
-
**Total General Fund**
_36,897_
**Designated funds**
Building Project (designated)
854,651
Child and Family Ministry
23,381
**Current Assets**
_878,032_
**Current Liabilities**
_-_
**Net Current Assets**
_878,032_
**Creditors: amounts falling**
**due after more than one year**
_-_
**Fixed Asset (see Note 11)**
1
**Total Designated funds**
_878,033_
**Total Unrestricted Funds**
_914,930_
**17A Restricted funds**
**PCC funds**
St Philip's Building Project
2,180,937
Loans Fund
( 80,000)
Youth Ministry
5,300
Sub-total
_2,106,237_
**Special appeal funds**
Byumba cards
60
Christian Aid lunches
155
Goodwill children's homes
16
St Basils
92
Sub-total
_323_
**Other restricted funds**
Church furnishing
109
Diocesan decoration fund
377
Fair Trade
858
Fun Run
931
Hardship fund
709
Children's Activities
552
Nominated gifts
254
Sub-total
_3,790_
**Total Restricted Funds**
**Net Current Assets**
2,105,051
**Fixed Asset**
-
**Total Restricted Funds**
1,404,528
**Endowment Fund**
CBF Income Shares
_10,785_
**_31 Dec 2019_**
**_31 Dec 2019_**
**_31 Dec 2019_**|**Income**
**Expenditure**
**Transfers**
51,655
(10,136)
170,003
165,882
500
41,518
-
-
0
-
170,003
165,882
500
41,518
140,472
3,378
28,490
1,020,235
-
-
( 23,381)
-
140,472
3,378
5,109
1,020,235
-
-
-
-
140,472
3,378
5,109
1,020,235
-
-
-
-
-
-
-
1
140,472
3,378
5,109
1,020,236
310,475
169,260
5,609
1,061,755
**Income**
**Expenditure**
**Transfers**
221,284
1,213,769
( 40,000)
1,148,453
-
-
35,000
( 45,000)
1,050
6,350
-
-
222,334
1,220,119
(5,000)
1,103,453
-
60
-
-
394
500
-
49
102
-
-
118
148
240
-
-
644
800
-
167
-
-
( 109)
-
-
-
-
377
-
358
( 500)
-
-
-
-
931
-
-
-
709
-
552
-
-
1,157
871
-
540
1,157
1,782
(609)
2,557
227,935
1,221,200
( 5,609)
1,106,177
-
-
-
-
322,130
50,239
428,631
2,105,051
11,488
704
**2020**
**2020**
**_31 Dec 2020_**
**Revaluation**
**31 Dec 2020**
**_31 Dec 2020_**| |---|---| page A14 Funds Comparatives ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH NOTES TO THE FINANCIAL STATEMENTfor the year ended 31 December 2021** ## **18 Analysis of grants** |**18**|**Analysis of grants**||||||| |---|---|---|---|---|---|---|---| |||**Mission and**||**Overseas**|**Home**|**Other**|**Total**| ||**GIVING FROM GENERAL FUNDS Church Overseas**|||**Relief**|**Missions**||| ||**Mission Beyond the Parish**||**£**|**£**|**£**|**£**|**£**| ||Christians Against Poverty||-|-|1,250|-|1,250| ||Church Mission Society (support for Yanez)||3,750||-|-|3,750| ||CPAS Falcon Camps||-|-|1,875|-|1,875| ||Grassroots Rwanda (David Dale Shyogwe Tr||3,125||-|-|3,125| ||Fund for the Needy (Widows of Dornakel)||-|2,500|-|-|2,500| ||The Children's Society (Christingle costs)||-|-|-|-|0| ||**Total Payments 2021 - General funds**||**6,875**|**2,500**|**3,125**|**-**|**12,500**| ||**RESTRICTED GIFTS**||||||| ||Friends of Byumba Trust (cards)||60|-|-|-|60| ||Christian Aid lunches||-|49|-|-|49| ||Goodwill Children's Homes (cards)||-|188|-|-|188| ||Friends of the Holy Land (Carol Service)||-|-|-|-|-| ||Widows of Dornakal||-||-|-|0| ||Aston and Nechells Food Bank||-||-|-|0| ||Traidcraft||-|0|-|-|0| ||St Basil's||-|0|-|-|0| ||Salvation Army||-|-|925|-|925| ||Support from Hardship Fund||-|-|-|250|250| ||**Total Payments 2021 - Restricted funds**||**60**|**237**|**925**|**250**|**1,472**| ||**Change in MPB reserve**||||||1,108| ||**Total Grants - 2021**||**6,935**|**2,737**|**4,050**|**250**|**15,081**| |**18A**|**Analysis of grants - comparative figures for 2020**||||||| ||**Mission and**
**GIVING FROM GENERAL FUNDS Church Overseas**|||**Overseas**
**Relief**|**Home**
**Missions**|**Other**|**Total**| ||**Mission Beyond the Parish**||**£**|**£**|**£**|**£**|**£**| ||Christians Against Poverty||-|-|1,250|-|1,250| ||Church Mission Society (support for Yanez)||3,750||-|-|3,750| ||CPAS Falcon Camps||-|-|1,875|-|1,875| ||Grassroots Rwanda (David Dale Shyogwe Tr||3,125||-|-|3,125| ||Fund for the Needy (Widows of Dornakel)||-|2,500|-|-|2,500| ||The Children's Society (Christingle costs)||-|-|-|-|0| ||**Total Payments 2020- General funds**||**6,875**|**2,500**|**3,125**|**-**|**12,500**| ||**RESTRICTED GIFTS**||||||| ||Friends of Byumba Trust (cards)||60|-|-|-|60| ||Christian Aid lunches||-|500|-|-|500| ||Goodwill Children's Homes (cards)||-|-|-|-|-| ||Friends of the Holy Land (Carol Service)||-|-|-|-|-| ||Widows of Dornakal||-|305|-|-|305| ||Aston and Nechells Food Bank||-|335|-|-|335| ||Traidcraft||-|358|-|-|358| ||St Basil's||-|240|-|-|240| ||Salvation Army||-|-|231|-|231| ||Support from Hardship Fund||-|-|-|-|-| ||**Total Payments 2020 - Restricted funds**||**60**|**1,739**|**231**|**-**|**2,030**| ||**Change in MPB reserve**||||||169| ||**Total Grants - 2020**||**6,935**|**4,239**|**3,356**|**-**|**14,698**| ## **PAROCHIAL CHURCH COUNCIL OF ST PHILIP, DORRIDGE WITH ST JAMES, BENTLEY HEATH NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021** ## **19 RECONCILIATION OF NET INCOME/EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** |_Note_
**Net income / (expenditure)**
**_SOFA_**
_(page 1)_
_Less: Non-operating income_
Rents received from investment properties
Interest receivable
**Net operating income / (expenditure)**
(Increase) / decrease in debtors
Increase / (decrease) in creditors
**Net cash flow from operating activities**
**_SOCF_**
_(Page 3)_|**2021**
**£**
**(2,497,855)**
-
(2,048)
(2,048)
8,353
105,018
**(2,386,532)**|**2020**
_£_
**(852,049)**
-
(16,170)
(16,170)
(42)
69,310
**(798,952)**| |---|---|---| ## **20 CHURCH WORKERS PENSION FUND** Since 1st April 2016 the PCC has participated in the Pension Builder Scheme section of the CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers. CWPF has two sections: 1.the Defined Benefits Scheme 2.the Pension Builder Scheme, which has two subsections; i.a deferred annuity section known as Pension Builder Classic, and, ii.a cash balance section known as Pension Builder 2014. ## **Pension Builder Scheme** Both sections of the Pension Builder Scheme are classed as defined benefit schemes. _**Pension Builder Classic**_ provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. _**Pension Builder 2014**_ is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2021: £3,027, 2020: £2,519). A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022. For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 3% following improvements in the funding position over 2021. There is no requirement for deficit payments at the current time. page A16 Notes 5 For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. The legal structure of the scheme is such that if another employer fails, the PCC could become responsible for paying a share of that employer’s pension liabilities. page A16 Notes 5