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2020-12-31-accounts

Charity No. 1134030

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

CONTENTS

Page
Legal and Administrative information 1-2
Council Members’ Report 3 - 8
Independent examiner’s report 10
Statement of Financial Activities
11
Balance Sheet 12
Notes to the Accounts 13 - 24

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

LEGAL AND ADMINISTRATIVE INFORMATION

Council members (During the year ended 31 December 2020 and to date) (During the year ended 31 December 2020 and to date)
Clergy: Revd Richard Reeve (Rector)
Revd Dave Wills (Team Vicar St Paul’s) (Appointed 28 February
2021)
Revd Simon Douglas (Team Vicar Holy Cross and Christ the King)
Revd Allen Roberts (Assistant Curate)
Revd Cath Leighton (Assistant Curate)
Parish Wardens: Andrew Graham
Mark Cadwallader
Diocesan Synod: Cyril Randles
Barbara Gollings
The other members of the PCC elected at the Annual Parochial Meeting on 27 September 2020 have
been:
From the Readers /
Lay Ministers: Stella Salt (St Michael’s)
Dorothy Clayton (St Paul’s)
Mark Cadwallader (Holy Cross)
From St Michael’s: Phil Deeming
Peter Stevens
Jon Preece
Paul Holt
Paula Timmins
Roberta Evans
Caroline Bayley
Tony Cotton
From Christ the King: David Parsons
Dawn Parsons
Margaret Perry
David Jacques
Jasmine Eldon
Iggy Peters

From St Paul’s:		 Dot Clayton
Greta Lowe
Susan Hughes
Marion Burns
Ron McTurk
Eddie Baker
Bridget Campbell

From Holy Cross:		 Rita Ash
Carole Page
Janet Pugh
Mike Spragg
Pat Brown

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PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

LEGAL AND ADMINISTRATIVE INFORMATION

Chairman Revd R Reeve
Treasurer Mr A Cotton
Secretary Mr Keith McQuillen
Charity Number 1134030
Principal address Church Cottage
Church Road
Tettenhall
Wolverhampton
West Midlands
WV6 9AJ
Independent Examiner C Cooper FCA
Chartered Accountant
80 Codsall Road
Tettenhall
Wolverhampton
West Midlands
WV6 9QP
Bankers Lloyds Bank Plc
37 Queen Square
Wolverhampton
West Midlands
WV1 1TQ
Santander UK plc
Brindle Road
Bootle
Merseyside
G1R 0AA
Barclays Bank Plc
18 Queen Square
Wolverhampton
West Midlands
WV1 1DS
The Co-Operative Bank Plc
P.O. Box 250
Skelmersdale
WN8 6WT
Investment managers CCLA Investment Management Ltd
80 Cheapside
London
EC2V 6DZ

2

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

COUNCIL MEMBERS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

________________ The council members present their report and accounts for the year ended 31 December 2020.

The legal and administrative information set out on page 1 -2 forms part of this report.

The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the charity’s governing documents, applicable law and the 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 (FRS102) (effective 1 January 2015).

The Health and Safety Policy and its implementation are regularly monitored by the Parish Health and Safety Committee, and each Church has representatives. It is considered that as long as these policies are followed, the risk to both members and users of church facilities is minimised as far as is practicable. The Health and Safety Committee also has general oversight on all non-financial areas of risk.

There is a Safeguarding Coordinator, and a Safeguarding Officer for each Church. DBS checks are made on all those likely to have contact with children and vulnerable adults. Appropriate training in Safeguarding is provided. It is considered that the risk has been minimised as far as is practicable.

Objectives and Activities

The primary object of the PCC, working in conjunction with the DCCs and the Ministry Team, is the promotion of the Gospel of Our Lord Jesus Christ according to the doctrines and practices of the Church of England.

Each Church determines its own Mission and Charitable Giving Policy.

The four churches are committed to working together with one another and share lay and ordained ministry.

The four churches have together provided a year-long Encounter group to nurture children in their Christian faith and prepare them for confirmation. A parish-wide strategy for adult Christian education is in operation.

There is a shared ministry across the parish in relation to baptisms, weddings and funerals.

In setting our objectives and planning our activities the Council Members have given careful consideration to the duty in Section 17 (5) of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

Risk management

The trustees are responsible for the management of the risks faced by the charity. Risks are identified, assessed and controls are established throughout the year. A formal review of the risk management procedure is undertaken on an annual basis. The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Achievements and performance

During the year 2020, considerable restrictions were in place due to the Coronavirus Pandemic. This led to the cancellation or postponement of most weddings and reduction in the number of funerals in church. In the early part of the pandemic many of the local branches of funeral directors were closed and severe restrictions were in place for attendance at funerals. These factors may account for a reduction in the number of funerals we were asked to conduct. For most of the year we were unable (not permitted) to conduct baptisms.

Funerals at St Michael’s:19 , at Christ The King:1, at Holy Cross:2, at Crematoria:55, at Danescourt:4.

Weddings at St Michael’s:3.

Baptisms at St Michael’s:5 at Christ The King:1, at Holy Cross:2

Confirmations in the Parish: NIL.

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PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

COUNCIL MEMBERS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

In 2020, the activities of the four Churches were very much curtailed due to the Coronavirus Pandemic. The Churches were closed for public worship from …. to…

In response to the pandemic, we began to offer daily prayer on Facebook (with Morning, Evening and Night Prayer each day) and a Eucharist on Facebook, on Sundays and Principal Feasts and Holy Days. These online services were organized on a parish-wide basis and involved clergy and lay people from the four churches. It was encouraging to see regular members of our congregations as well as other people from the locality and beyond, joining in prayer and worship together online.

Like many across society we began to become more familiar with communication technology and many of our activities continued using video conferencing (eg with Zoom, Teams or WhatsApp). This included meetings of the PCC and DCCs.

Our “Encounter” youth group, began to meet on Zoom and included a scheme to develop young leaders. Activities for fellowship and study continued online.

A weekly online “Sunday School” was broadcast on Facebook for children.

Parish Memorial Services were held online to which bereaved families were invited.

We were aware that a number of members of our congregations are not able to access activities and communication online and so a fortnightly notice booklet, including the script of a sermon, was distributed by volunteers to members of the congregations who could not receive notices by email.

St. Michael’s has a ministry in part derived from its position in the community. As well as offering regular public worship, it is a focus for baptisms, weddings and funerals served by the clergy and the laity. In addition to the services themselves there is significant work in marriage and baptism preparation and bereavement support. Two memorial services are held annually to which the recently bereaved are invited.

A pastoral team meets regularly to coordinate pastoral care in the parish, including ministry in care homes, visiting the sick, baptism and bereavement support and support for the local Food Bank. The pastoral committee continued to meet monthly on Zoom and some Care Home services took place using Teams.

Church members are involved in work as governors and volunteers in three church schools (both primary and secondary). The church regularly hosts worship for St Michael’s (primary school) and The King’s (secondary) School and Tettenhall College. These activities could not continue through the year and contributions were made by the clergy to online worship and the provision of resources to the schools.

The church has a variety of youth, children’s and adult groups and activities. A team of Sunday School teachers provide Christian education to children during the Sunday morning services. St Michael’s has taken an active part in Christian Education and Nurture in the Parish.

Teams from the congregation undertake pastoral visiting and conduct worship in the residential care homes in the parish (although these activities were curtailed in 2020). We have provided regular support for the Chaplaincy at New Cross Hospital for many years but due to changing needs of the chaplaincy in the hospital, this came to an end in 2020. Members of the congregation are active in local community neighborhood groups.

The Parish Centre in Upper Street, adjacent to Tettenhall village, accommodates Tettenhall Library, and is used by a variety of Church and community groups and serves the whole age range. A drop in Café operates weekly from the Parish Centre offering companionship and support (curtailed due to the pandemic).

The church building is used for concerts and charitable activities through the year and provides welcome social and refreshment space after services (curtailed in 2020).

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PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

In addition to public worship Christ the King offers a ministry of pastoral care through informal visiting, monthly healing services and Prayer Guild, also opportunities for faith development, through adult study groups and participation in Encounter, the parish-wide course for young people. A regular program of social and fundraising events for all ages provides a welcome to a wide network of local people and the church buildings are used every day of the week by community groups, including pre-school playgroup and nursery, Mums and Toddlers, Guides, Brownies and Rainbows, School of Dance, Yoga, Slimming World, Keep Fit and a monthly Board Games day. The building is also used as a polling station for both local and national elections. The current and future focus of our work is to upgrade and enhance our buildings to provide better facilities for worship and community use in line with our vision statement: “Celebrating God’s love at the heart of our community.”

During the year St Paul's offered public worship every Sunday morning. Social and fund-raising events were provided for the church family, friends and the wider community of all ages. Christian education and nurture were provided through Sunday School, Bible Study and Lent groups, and through participation in Encounter, the Parish Confirmation course and other Parish groups. St Paul’s supports Rainbows, Brownies and Guides Packs and a Stay & Play group. The ongoing partnership in mission with St Paul's CofE (VA) Primary School included sharing in acts of worship on Sunday occasions and during school time, and involvement by members of the church as School Governors. St Paul's chapel, hall and Oasis café space were used by a variety of community groups throughout the year. The Oasis Café is open every week day and Saturday mornings as a community café. The cafe is operated as a private business under licence from the church. St Paul’s receives income from this in the form of a licence fee. During the year worship in church and many of the activities were unable to continue. Communication to the congregation and contacts was continued through a regular newsletter along with pastoral care for the congregation. A number of online groups for prayer and bible study took place and when allowed a socially distanced group met outdoors for conversation and fellowship.

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PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

COUNCIL MEMBERS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

________________

The ministry of Holy Cross is centred on its position at the heart of the community of Bilbrook. In addition to offering regular public worship, the church is engaged in the opportunities offered through the pastoral events of baptisms and funerals. This work is also supported by an active pastoral team, who offer pastoral visiting, including home communion, bereavement ministry, and biannual memorial services.

The church is active in the two schools within the district, with governors and volunteers engaging in the life of Lane Green First School and Bilbrook Church of England Middle School. The church regularly hosts the schools for services at key points in the year, as well as for enrichment of the Religious Studies curriculum and clergy lead a termly Eucharist in the middle school. The middle school is federated with Codsall High School and Perton Middle School, and there is also opportunity for involvement in those schools. The church also has a wide variety of groups and activities for Christian education and nurture, through a teenage nurture group, a youth group, a summer holiday club, and also through Bible Study, and parish wide groups, including those preparing for confirmation. The church also has a full social and fundraising calendar.

Worship Patterns

The regular pattern of Worship atSt. Michael’sis:
Sunday 8.00am
Holy Communion
10.30am
Parish Communion
6.30pm
Evensong (or other evening service)
Wednesday
10.30am
Holy Communion
The Eucharist is also celebrated on Principal Feasts and Holy Days
The regular pattern of Worship atChrist the Kingis:
Sunday 8.30am [2ndonly] Holy Communion
10.00am
Family Communion
6.30pm [3rdonly] Healing Service
Wednesday
9.30am
Holy Communion
The regular pattern of Worship atSt. Paul’sis:
Sunday 10.30am
Worship Together
2ndSunday of the month is an all-age Service of the Word, Eucharist other Sundays.
The regular pattern of Worship atHoly Crossis:
Sunday 9am (1stand 3rd) Holy Communion
10.45am
Holy Communion (except 1stSunday 10.45am Praise Service)
Monday 12noon
Holy Communion
Thursday 9.30am
Holy Communion
Morning Prayer is as follows;
Monday 8.30 am
St Michaels
Tuesday 8.30 am
St Michaels
Thursday 8.30am
St Michaels

Worship was suspended for most of the year in accordance with Church of England and Goverrnmental instructions arising from the Covid 19 pandemic.

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PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

COUNCIL MEMBERS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of Tettenhall Regis it helps to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by: -

Financial review

The principal funding source is from voluntary donations and legacies together with rental income and investment income. There has been a significant reduction in amounts collected at services due to the necessary Covid restrictions, though we have been pleased to receive some special donations. For the same reason, gross fee income was reduced by £38,487. The results for the year are helped greatly by the waiving of 1½ months Parish Share by the Diocese.

The Statement of Financial Activities on page 11 shows gross income for the year of £240,576 and expenditure of £247,215. Reserves stand at £1,424,434 in total consisting of £484,180 restricted funds, £78,372 Endowment funds, £52,376 designated funds and £809,506 of unrestricted funds.

Of the £809,506 of unrestricted funds, £797,250 are held as property assets; they are therefore not available to be used to pay expenses or to repay the loans which are owed.

Reserves policy

The trustees have established a policy whereby unrestricted funds not invested in fixed assets, are held at a level which equates to approximately three months of unrestricted wages and indirect expenditure, taking account of potential risks and contingencies that may arise from time to time. The policy is reviewed annually by the Trustees and Management Committee. The present level of reserves required is assessed at £68,000. The trustees will endeavour to build up free reserves to the ideal level by means of annual operating surpluses. The trustees also aim to maintain reserves of £60,000 at the bank. The actual level of cash reserves is approximately £53,541. It is foreseen that the continuing issues arising from Covid-19 will result in a substantial call on reserves.

Asset cover for funds

Note 14 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity’s obligations on a fund by fund basis.

Investment policy

The charity has the power to make any investment which the Council see fit. The Council’s investment policy is that funds held in reserves shall be invested to provide a good return with a minimum of risk. Cash reserves are invested as required, who provides a good service and a reasonable return.

Structure, governance and management

The Parish of Tettenhall Regis has four centers of worship. The Parish Church of St Michael and All Angels in Church Road, Tettenhall, the Church of Christ the King, Pendeford Avenue, Aldersley, the Church of St Paul, Whitburn Close, Pendeford and the Parish Church of Holy Cross, Bilbrook Road, Bilbrook. The Rector is Revd. Richard Reeve and the Parish Office is in Church Cottage, Church Road, Tettenhall WV6 9AJ

The Parish has a Team Ministry Mandate and a Scheme made under Section 18 of the Church Representation Rules which sets out the structure of Tettenhall Regis PCC.

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PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

COUNCIL MEMBERS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

_____________The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission. PCC members act as trustees. All of the council members serving during the year are listed on page 1. New council members (i.e. trustees) are members of the congregation and people with very strong local background. All are elected at our Annual General Meeting, but occasionally serve on a coopted basis beforehand.

All new trustees are provided with the following:

Their role and responsibilities are set out to all members at the first meetings of the newly constituted PCC and DCCs. Training for Church wardens is offered by the Diocese and the outgoing wardens have responsibility for briefing the new appointments.

The TC James Trust and the Tettenhall Education Trust (the Kingswood Fund) are established for the benefit of the Parish, as detailed in the accounts.

While much of the day to day activity is delegated to the four District Church Councils (DCC), the PCC retains ultimate responsibility, exercised by receiving reports from each DCC at each PCC.

There is a standing committee to meet where necessary, consisting of the Rector and Team Vicars, the three Treasurers, and the Parish and District Wardens. There is a Parish Stewardship and Finance Committee which meets regularly to monitor and advise on the management of Parish finances. Other committees meet at appropriate times.

The PCC has adopted policies on Health and Safety and Child Protection.

Reference and administrative information

Details are included on pages 1 and 2.

Future

We will continue to develop links with the wider community by offering space for community activities and improving that space, we will continue to encourage participation and leadership from Church members in such activities.

We will continue to support and develop our contribution to education and Christian spiritual development at all levels: through schools by providing chaplaincy, governance and voluntary support of Church and community schools, through children’s and youth education in Church Groups (e.g. Sunday School’s, Encounter, Youth Groups and Uniformed Organizations) and by a program of adult Christian education and nurture and through ongoing training for those engaged in active ministry (Ministry Team and other lay leaders), through nurturing vocations to ordained ministry and continued ministerial training, for ordains and newly ordained.

8

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

COUNCIL MEMBERS’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

We will continue to offer regular public Christian worship to Almighty God in the traditions of the Church of England. To facilitate this our worship will be regularly reviewed and ministers responsible will continue in a life of prayer and undertake ministerial training within the Parish Ministry Team and as it is available in the Diocese and wider Church. We will continue to develop our ministry to the Church and the wider community through ministry at baptisms, weddings and funerals with the aid of the weddings project and by pastoral care before and after baptisms and funerals through collaboration of Lay and Ordained Ministers.

To facilitate ongoing developments and mission within the parish we encourage those who support the church to review their giving regularly. We aim to communicate effectively about the mission of the parish and to be open about its income and expenditure. We are seeking ways to develop a fundraising strategy which will widen our support base

The Council Members are satisfied with the performance of the Charity’s investments, bearing in mind market conditions prevailing.

On behalf of the board of Council members

……………………………………………………………..

Rev. R. Reeve (Chairman)

Dated 11 April 2021

9

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

INDEPENDENT EXAMINER’S REPORT TO THE COUNCIL MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

I report to the trustees on my examination of the accounts of Parochial Church Council of Tettenhall Regis for the year ended 31 December 2020, which are set out on pages 10 to 23.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

……………………………………………………………….. GP Morgan ACMA, CGMA, Chartered Management Accountant

Dated 11 April 2021

242 Henwood Road Tettenhall Wolverhampton WV6 8NZ

10

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Note
Unrestricted
Funds
£
Restricted
Funds
£
Endowment
Funds
£
INCOME AND ENDOWMENTS
Voluntary income
3 (a)
140,124
10,066
-
Activities from generating funds
3 (b)
6,525
176
-
Income from Investments
3 (c)
49,600
12,613
-
Church Activities
3 (d)
21,407
65
-
Other income
3 (e)
-
-
-
_
_
_
TOTAL INCOME
217,656
22,920
-
_
_
_
EXPENDITURE
Cost of raising funds
4 (b)
312
-
-
Church activities
4 (a)
232,105
14,798
-
_
_
_
TOTAL EXPENDITURE
232,417
14,798
-
_
_
_
NET INCOME/(EXPENDITURE)
BEFORE INVESTMENT GAINS
(14,761)
8,122
-
NET GAINS ON INVESTMENTS
9
1,016
(1,802)
5,038
_
_
_
NET INCOME/EXPENDITURE
(13,745)
6,320
5,038
TRANSFER BETWEEN FUNDS
(100)
100
-
_
_
_
NET MOVEMENT IN FUNDS
(13,845)
6,420
5,038
Total funds brought forward
875,727
477,760
73,334
_
_
__
Total funds carried forward
861,882
484,180
78,372


Total
2020
£
150,190
6,701
62,213
21,472
-
_
240,576
_
312
246,903
_
247,215
_
(6,639)
4,252
_
(2,387)
-
_
(2,387)
1,426,821
__
1,424,434
 Total
2019
£
176,536
9,261
77,296
63,216
242
_
326,551
_
1,721
347,008
_
348,729
_
(22,178)
45,010
_
22,832
-
_
22,832
1,403,988
__
1,426,820

The unrestricted funds at 31 December 2020 include £52,376 (2019: £ 50,247), which the Council Members have designated for specific purposes.

The notes on pages 12 to 23 form part of these accounts.

11

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

BALANCE SHEET AS AT 31 DECEMBER 2020

2020
Notes
£
Fixed assets
Tangible assets
8
Investments
9
Current assets
Debtors
10
17,285
Cash at bank and in hand
187,385
_
204,670
Creditors: amounts falling due
within one year
11
(24,016 )
_
Net current assets
Total assets less current liabilities
Creditors: amounts falling after one year 12
Net Assets
Funds
Restricted funds
13
484,180
Endowment funds
78,372
_
Unrestricted funds
Designated funds
14
52,376
Other unrestricted funds
809,506
_		 2019
£ £

967,250
311,080
_

1,278,330
25,465
175,834
_
201,299
(21,331 )
_
180,654
_
1,458,984
(34,550 )
_
1,424,434
_
477,758
73,334
_
562,552
50,247
825,481
_
861,882
__
1,424,434
 £
967,700
314,978
_
1,282,678
179,968
_
1,462,646
(35,826 )
_
1,426,820
_
551,092
875,728
__
1,426,820

The accounts were approved by the Council Members on 11 April 2021

…………………………………….. …………………………………….. Rev R Reeve (Chairman) AC Cotton

12

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

1 Funds of the charity

Restricted funds represent a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. The charity has the following restricted funds:

Rhona Griffiths Legacy fund

The fund is to be used for the upkeep of St Michael and All Angels Church.

Rhona Griffiths Residue fund

The fund is to be used for the upkeep of the properties of St Michael and All Angels Church.

Swindley Trust

The fund was to be used to subsidise the costs of the Parish Centre, but in 2006 the trustees transferred the funds of the trust to the Parochial Church Council, to be used for the same purpose.

Organ Fund

The fund is to be used for maintenance or renovation of the organ in St Michael and All Angels Church.

Tettenhall Charities

The fund is to be used for the relief of poverty within the parish of Tettenhall Regis.

Harold Cavers Memorial

The income of the fund is to be used for making grants towards the development of Christian vocation and ministry in the parish but the family has now indicated that, in future, capital could be used for purposes of benefit to the parish.

Bells Appeal

The fund is to be used for the maintenance or restoration of the bells at St Michael and All Angels Church.

EM Fox Legacy

The fund is to be used for educational purposes among children and young people in the parish.

13

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

1 Funds of the charity (continued)

Christ the King Building fund

The fund is to be used for the maintenance of the Church at Christ the King.

Blakeley Green House

The funds to be used to support the tenants of the home through activities, Christian worship and pastoral care

Tettenhall War Memorial Fund

The fund is to be used to assist with the renovation of the memorial at St Michaels Church.

Discretionary Fund (Hardship Fund)

The fund is to be used at the discretion of the clergy to support parishioners in need.

Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established. A transfer is made each year from endowment funds in respect of surplus income for the year.

The Charity has the following endowment funds:

Endowment funds

Tettenhall Turner Estate Tettenhall Regis Tildesley (churchyard and graves maintenance) Tettenhall Regis 1521 (church repairs or insurance) Tettenhall Regis Deakin Tettenhall Regis Forrester Tettenhall Regis Millington (churchyard maintenance) Tettenhall Regis Butler Tettenhall Regis Hodgetts Tettenhall Regis Kingswood – this fund was established from the sale of Kingswood School. The trustees have appointed the income to the PCC for use for education work in the parish

Designated funds

Designated funds comprise funds which have been set aside at the discretion of the Council Members for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.

Unrestricted funds

Unrestricted funds are available for use at the discretion of the Council Members in furtherance of the general objectives of the charity.

14

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

2 Accounting policies

Charity information

Parochial Church Council of Tettenhall Regis is a corporate body established by the Church of England.

2.1 Accounting convention

The PCC is public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC’s and with the Regulations’ “true and fair view” provisions, it is also the first year that they have been prepared under FRS102 (2016) as the applicable accounting standard and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP (FRS102)). The date of transition to FRS102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affect by the transition to FRS102.

The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include investment at fair value. The principal accounting policies adapted are set out below.

2.2 Incoming resources

Rental income and legacies are recognised as income when receivable.

Fees for weddings and funerals are recognised as income when receivable.

Donations and sponsorship money is taken into account when received.

All grants and voluntary income are recognised as income when receivable, as long as they are capable of financial measurement.

Investment income is credited to the accounts when received net of management fees in accordance with the normal practice of investment managers.

2.3 Resources expended

Expenditure is accounted for as incurred and includes any VAT which cannot be fully recovered.

Parish share is accounted for when payable.

Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Costs of generating funds comprise fundraising costs.

Grant expenditure is accounted for when paid.

15

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

2.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:

Plant and equipment 10% p.a. on a straight line basis Individual items under £100 are not capitalised

No depreciation is charged on the freehold properties since, in the opinion of the Council Members, the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. In view of this, the Council Members carry out an annual impairment review of these properties. Consecrated and benefice property is not included in the accounts under s.10 (2) (a) of the Charities Act 2011.

2.5 Leasing and hire purchase commitments

Rentals paid under operating leases are charged against income on a straight line basis over the period of the lease.

2.6 Investments

Quoted investments are initially recognised at their transaction value and subsequently measured at their fair value, as at the year-end date.

Gains/losses arising on revaluation are charged to the respective funds.

Gains/losses arising on disposal are charged to the funds immediately on disposal.

3 Incoming Resources Unrestricted
Restricted
Endowment		 Unrestricted
Restricted
Endowment		 Unrestricted
Restricted
Endowment		 Total Total
Funds Funds Funds 2020 2019
£ £ £ £ £
3 (a) Voluntary income
Planned giving: Gift aid
donations 82,085 - - 82,085 88,038
Tax recoverable 22,456 - - 22,456 20,372
Collections (open plate) 3,945 370 - 4,315 15,609
Donations, appeals, etc. 31,638 9,696 41,334 46,971
Parish share forgiven - - - - 5,546
__ __ __ __ __
140,124 10,066 - 150,190 176,536
__ __ __ __ __

In 2019, £2,298 of the donations and appeals was attributable to restricted income funds

16

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

3 Incoming Resources Unrestricted
Restricted		 Endowment Total Total
(continued) Funds
Funds		 Funds 2020 2019
3 (b) Activities for generating
funds
General Fund-raising 6,525 176 - 6,701 9,261
__
__		 __ __ __
6,525 176 - 6,701 9,261
__
__		 __ __ __
In 2019, £1,055 of the activities for generating funds was attributable to restricted income funds
3 (c) Income from investments
Parish Centre and Church
Hall receipts 26,244 - - 26,244 47,716
Property Rents 20,234 7,296 - 27,530 23,517
Dividends and interest
including tax recoverable 3,122 5,317 - 8,439 6,063
__
__		 __ __ __
49,600
12,613		 - 62,213 77,296
__
__		 __ __ __
In 2019, £10,737 of income from investments was attributable to restricted income funds, and £nil
was in respect of endowment funds.
3 (d) Church activities
Weddings and Funeral fees 19,251
65		 - 19,316 57,738
Church Magazine receipts 2,156
-		 - 2,156 1,256
Youth education -
-		 - - 4,222
__
__		 __ __ __
21,407
65		 - 21,472 63,216
__
__		 __ __ __
In 2019, £nil of the church activities was attributable to restricted income funds
3 (e) Other incoming
resources
Insurance receipts -
-		 -
-
242
__
__		 __
__
__

In 2019, £nil of the other incoming resources was attributable to restricted income funds

17

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020		 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020		 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020		 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020		 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020		 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020		 NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
_________________
4 RESOURCES EXPENDED Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2020 2019
£ £ £ £ £
4 (a) Church activities
Missionary and charitable giving
Home and Overseas 3,764 319 4,083 8,283
Youth education - - - - 4,766
Baptism Ministry - - - - 456
Uniformed groups - - - - 230
Local charities - 270 - 270 877
__ __ __ __ __
3,764 589 0 4,353 14,612
Ministry: Diocesan parish share 145,820 1,500 147,320 164,103
Fees for weddings and funerals 12,073 - - 12,073 37,834
Clergy working expenses 4,769 - - 4,769 6,184
Clergy housing 84 - - 84 160
Church workers’ wages/fees 8,752 - - 8,752 9,770
Organist fees 1,199 - - 1,199 6,564
Church maintenance 11,503 5,587 - 17,090 18,144
Church insurance 6,634 - - 6,634 6,481
Church light and heat 15,856 - - 15,856 14,964
Sanctuary expenses 917 250 - 1,167 2,583
Church magazine costs 681 - - 681 1,618
Printing & stationery 4,591 - - 4,591 6,441
Photocopier rental - - - - 1,334
Parish Centre 4,413 - - 4,413 14,615
Property costs 559 2,480 - 3,039 26,142
Church cottage expenses 3,747 3,500 - 7,247 8,722
Bank charges 1,410 57 - 1,467 285
Depreciation 350 100 - 450 450
Retreat weekends 774 735 - 1,509 916
Sundry expenses 4,209 - - 4,209 5,086
__ __ __ __ __
232,105 14,798 - 246,903 347,008
__ __ __ __ __

In 2019, £8,411 of the expenditure on church activities was attributable to expenditure from restricted funds.

18

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4 RESOURCES EXPENDED Unrestricted Restricted Endowment Total
Total
Funds Funds Funds 2020
2019
£ £ £ £
£
4 (b) Raising Funds
Stewardship envelopes 312 - - 312
371
General fund raising costs - - - -
1,350
__ __ __ __ __
312 - - 312
1,721
__ __ __ __ __

In 2019 the cost of raising funds was £371 of which £Nil was expenditure from restricted funds.

5 Council Members

None of the Council members (or any persons connected with them) received any remuneration during the year. Payments totalling £4,769 (2019 £6,184) were made to 4 (5) council members in respect of travelling and out of pocket expenses reimbursed.

6

Employees

Number of employees
The average monthly number of employees during the year
was:
Administrator
Employment costs
Wages and salaries		 2020
No.

1
_
1
_
£
7,962
 2019
No.
1
_
1
_
£
9,770

There were no employees whose annual emoluments were £60,000 or more.

7 Taxation

In the opinion of the Council Members, all income of the charity in the year is outside the scope of income tax, corporation tax or VAT.

19

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

8 Tangible fixed assets As at Additions
 Revaluations Disposals As at
1 January 31 December
2020 2020
£ £ £ £ £
Cost
Freehold Property 965,000 - -
-		 965,000
Equipment 4,500 - - - 4,500
Café Equipment 11,333 - - - 11,333
__ __ __
__		 __
980,833 - - - 980,833
__ __ __ __ __
As at Charge for Revaluations Disposal As at
1 January the year adjustment 31 December
2020 2020
£ £ £ £ £
Depreciation
Freehold Property - - -
-		 -
Equipment 1,800 450 - - 2,250
Café Equipment 11,333 - - - 11,333
__ __ __
__		 __
13,133 450 - - 13,583
__ __ __ __ __
Net book values £
At 31 December 2020 967,250
__
At 31 December 2019 967,700
__

All fixed assets are used for direct charitable purposes.

20

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

9 Fixed asset investments
Quoted
Investments
£
Market value at 1 January 2020 314,978
Realisation of investments (8,150 )
Net gains on revaluations and disposals (see
below) 4,252
__
311,080
Market value at 31 December 2020
__
Historical cost:
At 31 December 2020 168,900
__
At 31 December 2019 168,900
__
The historical cost values have been estimated since they are not readily available.
£
Net gain on revaluations and disposals
Revaluation gain 4,252
__
Investments at fair value comprise:
Capital at
31 December 2020
(%)
UK Equities 72
Fixed interest 28
__
100
__

All of the investments are readily realisable.

21

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

__________
10
Debtors


Tax refunds due
Debtors for rent and services
Prepayments and accrued income
11
Creditors: amounts falling due within one year
Trade creditors
Parish loan advance
12
Creditors: amounts falling due after one year
T C James Loan– St Michaels
Parish loan advance		 __
2020
£
11,283
2,573
3,429
_
17,285
__
2020
£

20,958
3,058
__
24,016
__
2020
£
25,000
9,550
______
34,550
 __
2019
£
14,370
3,856
7,239
__
25,465
__
2019
£
18,273
3,058
__
21,331
__
2019
£
25,000
10,826
______
35,826

The above loans bore interest at 1% above bank base rate and are unsecured.

22

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Movement in funds Movement in funds
13 Restricted funds Balance at Incoming Resources Balance at
1 January resources expended 31 December
2020 2020
£ £ £ £
Rhona Griffiths legacy fund 5,078 2 - 5,080
Rhona Griffiths residue fund 178,494 10,182 9,566 179,110
Rhona Griffiths legacy fund
CBF units 139,290 9,578 - 148,868
Swindley Trust 74,083 2,127 11,381 64,829
Organ Fund 13,644 106 263 13,487
Tettenhall Charities 476 370 285 561
Harold Cavers Memorial 15,969 302 735 15,536
Bells Appeal 5,593 - 5 5,588
EM Fox Legacy 3,822 - 4 3,818
Blakeley Green House 26,890 136 1,829 25,197
Tettenhall War Memorial 5,272 9,500 9 14,763
Christ the King Building fund 8,150 196 2,000 6,346
Discretionary fund 767 - - 767
Memorials fund 230 - - 230
__ __ __ __
477,758 32,499 26,077 484,180
__ __ __ __

23

PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

14
Analysis of net assets between
funds
Unrestricted
funds
£
Endowment
funds
£
Restricted
funds
£

Fund balances at 31 December 2020
are represented by:
Tangible fixed assets
797,250
-
170,000
Investments
21,140
78,372
211,568
Current assets
102,058
-
102,612
Creditors:
amounts falling due within one year
(24,016 )
-
-
amounts falling due after one year
(34,550 )
-
-
_
_
__
861,882
78,372
484,180


 Total
£
967,250
311,080
204,670
(24,016
)
(34,550 )
__
1,424,434

Designated funds

Included in unrestricted funds are the following designated funds:

Balance at Incoming Resources Transfers Balance at
1 January resources expended between 31 December
2020 funds 2020
£ £ £ £ £
Property funds – 317 - - 6,866
St Michaels 6,549
Christ the King 22,839 66 1,006 - 21,899
St Paul’s 10,200 - - - 2,000 12,200
Holy Cross 2,296 40 - - 2,336
Choir fund 3,936 397 - - 4,333
Sunday School 315 - - 3,441
funds 3,126
Other 1,301 - - - 1,301
__ __ __ __ __
50,247 1,135 1,006 2,000 52,376
=========== =========== =========== =========== ===========

Property funds

Funds have been set aside for the upkeep of St Michael and All Angels, Christ the King Churches, St Paul’s and Holy Cross.

Choir fund

The fund is to be used for the expense incurred by the Choir of St Michael and All Angels.

Sunday School Funds

The funds have been set aside to help cover the expenses of the each of the Churches.

Other

Other funds have been set aside to assist in the running costs of fellowship groups

15 Control

The charity is controlled by the members of the Council.

24