The Parish of +TETTENHALL REGIS St Michael & All Angels I Christ the King | Holy Cross I St Paul Charity No. 1134030 PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS CONTENTS Page Legal and Administrative information Council Members, Report Independent examiner's report Statement of Financial Activities 10 Balance Sheet 11 Notes to the Accounts 12-22
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS LEGAL AND ADMINISTRATIVE INFORMATION Counc51 members (During the year ended 31 December 2023 and to datel Clergy: Revd Richard Reeve IReclor} Revd Dave Wills (Team Vi¢8r St P8uI's} Revd Simon Douglas (Team Vi¢8r Holy Cross and Christ the King, to 3 September 20231 Parlsh Wardens: Andrew Graham Cyril Randles Diocesan Synod: CYTII Randles Deanery Synod: st. Michael's St. Paul's Holy Cross Christ the King Cyril Randles, Barbara Gollings and Paul Holl Bridget Campbell and Eddie Baker Pat Brown Jasmine Eldon. Iggy Peters and David Jacques The other members of the PCC elected al the Annual Paro¢hial Meeting on 22 May 2023 have been.. From St Michael's: Phil Deeming Jon Preece Paula Timmins Roberta Evans Tony Cotton Peter Bevan Chris Dymond From Chrlst the Klng: All members are also on Deanery Synod From St Paul's: Dot Clayton Grela Lowe Susan Hughes Marion Burns From Holy Cross: Janel Pugh Mike Spragg Jo Cadwallader
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS LEGAL AND ADMINISTRATIVE INFORMATION Chaimian Revd R Reeve Treasurer MrA Cotton Secretary Mr Keith McQuillen Charity Number 1134030 Principal address Church Cottage Church Road Tettenhall Wolverhampton West Midlands 69AJ Independent Examlner Jonathan Hill St Mary's House, The Close. Liehfield WS13 7LD Bankers Lloyds Bank PIC 37 Queen Square Wolverhampton Vvesl Midlands VW1 1TQ Sanlander UK plc Brindle Road Boolle Merseyside G1ROAA Bar¢lays Bank PIC 18 Queen Square Wolverhampton Wesl Midlands VW1 1DS The Co-operative Bank P P.0. Box 250 Skelmersdale WN86 Investrnent managers CCLA Investment Management Ltd 1 Angel Lane London EC4R 3AB M&G Investments PO Box 9039 Chelmsford CM99 2XG
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS COUNCIL MEMBERS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The council members present their report and accounts for the year ended 31 December 2023. The legal and administrative infomiab'on sel out on page 1-2 fom 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 goveming documents. applicable law and the Statement of Recommended Practice applicable to charities preparing their accounts in accord2nee with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20151. The Health and Safety Policy and ils implemenlalion are regularly monitored by the Parish Health and Safety Committee. and each Church has representatives.11 is considered that as long as these policies are followed, the risk lo 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 ea¢h 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. Obje¢tive$ and Actlvhles 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 lo the doctrines and practices of the Church of England. Each Church detemiines ils own Mission and Charitable Giving Policy. The four churches are committed to working togetherwith one another and share lay and ordained ministy. The four churches have together provided a year-long Encounter group lo nurture children in their Christian faith and prepare them for confirrnation. A parish-wide strategy for adult Christian education is in operation. There is a shared ministy across the parish in relation lo baptisms, weddings and funerals. In setting our obje¢lives and planning our activities the Council Members have given careful consideration to the duty in Se¢b'on 17 (51 of the Charib'es 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 lo which the ¢harity is exposed and are satisfied that systems are in place to miligale exposure lo the major risks. The major risks which are perceived by the Iruslees and the action being taken to mitigate them is as follows.. Risk Ageing congregation. Mitigation Increase in activities to attract new congTegalion. More emphasis on youth work. Full safeguarding policy which is rigorously applied. Maintsin reserves as far as possible. Use of restricted and designated fltnds for maintenance whenever possible. Inflationary cost increases and above inflation fuel Attempt to encourage planned giving. Fix costs cost increases. wherever possible. General safeguarding risks. Unplanned maintenance requirements.
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS COUNCIL MEMBERS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and perforrnance Although attendance at worship saw 8 modest increase in 2023 il has not returned to pre-pandemic levels. Weddings, continues and we continued to welcome members of the congregation through baptisms and confirmations. Funerals at St Michael's.. 27, at Holy Cross.. 7, at Crematoria.. 37, at Graveside 1.. Weddings al St Michael's.. 14. at Christ The kn'n9.' 1. Baptisms at Sl Michael's.. 19. at Holy Cross.. 3 Confirmations in the Parish.. 5. The Parish The four churches of the Parish offer worship and minister to the communities of Tettenhall, Aldersley, Pendeford and Bilbrook. The Parish is served by a clergy Team (The Team Rector, and two Team Vicars, one post vacant at 31 December). Some activities are run on a parish wide basis and governance is overseen by the PCC and Parish Wardens with District Church Councils and District Wardens in each Church. The online ministry developed during the pandemic, has continued, alternating between churches and offering worship to those unable to attend in person. The Encounter youth group is run by 8 team drawn from across the parish. Occasional offices Ib8Ptisms, weddings and funerals) are shared by the parish team. Activities within halls and speci81 events have risen during the year showing an encouraging trend. A new Christmas community activity wa$ ¢arol singing in 2 local public houses which was very successful. st. Michael's has a ministy in part derived from its position in the community. As well as offering regular public worship. il is a focus for baptisms, weddings and fvnerals 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. Care Home services took place 81 Foxland Grange and more recently in Coton Grange. A regular servits now lakes place in Thorneycrofts Senior Living.. Church members are involved in work as governors and volunteers in three church schools (both primary and secondary). The church regu18rly hosts worship for Sl Michael's Iprimaryl school and The King's (secondary) School and Tettenhall College at Christmas we also hosted Newbridge Preparatory School, Limes Court Nursery and Sl Michael's Pre-school. Contributions were made by the clergy to online worship and the provision of resources to the schools. On several occasions, the Rector led or took part in worship al the King's School. Classes from St Michael's School have on a fortnighlly basis joined the regular Wednesday morning Eucharist al Church. During the course ofthe yearThe King's School joined the Three Spires Mulli-Academy Trust and was subsequently renamed St Regis Church of England. Academy The church has a variety of youth, children's and adult gTOUPS and activities. The Encounter Group continued to meet. A team of Sunday School teachers provide Christian education lo children during the Sunday morning service. St Michael's has taken an active part in Christian Education and Nurture in the Parish and Pilgrim. Living Faith and Bible Study groups mel throughout the year. The Parish Centre in Upper Street, adjacent to Tettenhall village, accommodates Tettenhall Library, and Sl Michael's pre-school. During the year, Sl Michael's Pre-school began to use the Hopkin's Room for additional support of children with Special Educational Needs.
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS COUNCIL MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 In addition to public worship Christ the Klng offers a ministry of pastoral care through informal visiting and monthly healing services, as well as opportunities for faith development, through adult study groups and parb'cipation in Encounter, the parish-wide course for young people. A regular program of social 8nd fundraising events for all ages provides a welcome lo 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, Guides, Brownies and Rainbows, Choir, Yoga. a Coop management group, Slimming World and a monthly Board Games day. The building is also used as a polling station for both local and nats'onal elections. The buildings continue to provide valuable facilities for worship and community use in line with our vision stalemenl.. Celebrating God's love at the heart of our community. The Church in partnership with people assisting from other churches in the Parish has begun to develop very popular Stay and Play Initiative on a Monday morning. Every year the church has involved local shops and houses in an Advent window trail During the year St Paul's offers public worship every Sunday morning. We hold Social and fund-raising events for the church family, friends and the wider community of all ages. Christl8n education and nurture continue to be provided through Sunday School, our monthly Sunday Circle Church on the School field, Bible Study and Lent groups, and through participation in EnGounter, the Parish Confirmation course and other Parish groups. St Paul's also continues to support uniformed organisations such as Rainbows, Brownies and Guides Packs. The ongoing partnership in mission with St Paul's CofE IVA) Primary School continues by sharing in acts of worship on Sunday occasions and during school lime, and involvement by members of the church as School Governors. We also minister to and conduct services in ate involved with Dovecotes Primary School and Blakeley Green House which seem to be appreciated by all concerned. st Paul's chapel, hall and Oasis cafè space were used by a variety of community groups throughout the year. The Oasis Cafè was open every week-day and Saturday mornings as a community café. The cafe is operated as a private business under licence from the church and allracls a number of customers. Sl Paul's receNes income from this in the form of a licence fee. Additional communication to the congregation and contacts continued through a regular newsletter along with pastoral care for the congregation. A number of online groups for prayer and bible study also take place for conversation and fellowship. The ministry of Holy Cross is cenlred 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 schools within the diStll, wrfth 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 setvices at key points in the year, as well as for enrichment of the Religious Studies curriculum. Both schools are now federated as part of South Slaffordshire Learning Partnership, with Codsall Communty High School. Perton Middle School and St Chad's Church of England First School, Pattingham, and there is also opportunity for involvement across the partnership. The church also has a wide variety of groups and activities for Christian education and nurture, and participate in parish wide groups and aclivilies, including Bible study. nurture and for those prepaTing for confirmats'on. The church also has a full social and fundraising calendar. Worshlp Patterns The regu5ar pattern of Vvorship al St. Mlchael's is.. Sunday 8.00am Holy Communion 10.302m Parish Communion 6.30pm Evening Prayer (Monthly Choral Evensong} Wednesday 10.302m Holy Communion The Eucharist is also celebrated on Principal Feasts and Holy Days
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS COUNCIL MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The regular pattem of Worship at Christ the King is.. Sunday 9.30am Family Communion 6.30pm13' ontyl Healing Service 9.30am Holy Communion Wednesday The regular pattern of Worship at st. Paul's is.. Sunday 10.30am Worship Together 2n0 Sunday of the month is an all-age Service of the Word, Eucharist other Sundays. The regular pattem of Worship at Holy Cro$$ 1$.. Sunday 11.00am Holy Communion Thursday 9.30am Hoty Communion There is a seryice streamed each Sunday from one of the churches in the parish, using the parish facebook and YouTube pages. The Daily offices are also offered on the parish Facebook page- Moming Prayer, daily al 8.30am Night Prayer, Monday lo Saturday at 9.30pm. The trustees support the work of the Church of England to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenicall within the E¢¢lesiastical Parish of Tettenhall Regis, and so bring benefit to the public by.. Providing facilities for public worship. pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers.. and Promoting Christian values, and service by members of the Church in and to their communities. to the benefit of individuals and society as a whole. Financial review The principal funding source is from voluntary donations and legacies together with rental income and investment income. Congregation giving is £92,304, a small reduction since 2022, bul as costs in¢rease the trend is ¢on¢erning. Gross fee income for weddings and funerals fell by £5,155, 10 £36,940 giving a surplus after fees paid to Diocese of £21.77112022'. £26, 1321 from which local costs are paid. Hall income again increased. Despite a void period in 19A Upper Street, the diligence of our property committee ensured an increase in rental income. The income and expenditure section of the Statement of Financial Activities shows a surplus. This reflects a small deficit in St Michaels {which pays 61'h of the Common Fund of £147.105} and surpluses in the other churches. Wherever possible. restricted and designated funds have been ulilised to pay expenses. which allows the parish to'pay its way with the Common Fund. The revaluation of investments has resulted in an unrealised gain of £42.95312022 deficit of £61,541). This reflects nothing more than the vagaries of markets, which al the end of the year showed a greater degree of optimism than in 2022. The Statement of Financial Activities on page 10 shows gross income for the year of £289,51812022.' £291,628) and expenditure of £274,257 12022.. £282,594). Reserves stand at £1,451,256 12022 £1.393,4021 in total consisting of £465,260 restricted funds12022'. £429.3561 £93,161 endowment funds, 12022.. £85.6361, £63,492 designated funds12022.' £56.3261 and £829,343 of unrestricted fund 12022: £822,084). Of the unrestricted funds. £795.500 (2022.'£796,3501 are held as fixed assets., they are therefore not available to be used to pay expenses or to repay the loans which are owed.
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS COUNCIL MEMBERS, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Re$¢rves 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, tsking account of potential risks and contingencies that may 8ri5e from time lo time. The policy is reviewed annually by the Trustees and Management Committee. The present level of reserves required is assessed at £80,000. The Iruslees will endeavour lo build up free reserves to the ideal level by means of annual operating surpluses. The Iruslees also aim to maintain resetves of £65.000 at the bank The actual level of unrestricted cash reserves is approximately £83,828. Asset cover for funds Note 14 sets out an analysis of the assets attribu18ble to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund b8SiS. 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 retum with a minimum of risk. Cash reserves are invested as QUired, who provides a good service and a re8sonable return. Structure. governance and management The Parish of T¢tt¢nhall Reg5s has four centers of worship. The Parish Church of Sl Michael and All Angels in Church Road, Tettenhall, the Church of Christ the King, Pendeford Avenue. Aldersley, the Church of Sl Paul, Whilburn 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 Secb'on 18 of the Church Representation Rules which sets out the slrueture of Tettenhall Regis PCC. The Parochial Church Council IPCCI 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 Iruslees. All of the council members serving during the year are listed on page 1. New council members li.e. trusleesl are members of the congregation and people with very strong local background. All a elected at our Annual General Meeting, but occasionally serve on a co- opted basis beforehand. All new trustees are provided with the following.. History and background information A copy of the previous year's accounts and report A copy of the last PCC minutes Their role and responsibilities are sel out to all members al the fiTSt meetings of the newly constituted PCC and DCCS. Training for ChL¢rch wardens is oflered by the Diocese and the outgoing wardens have responsibility for briefing the new app)inlrnents. 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 Counci15 IDCCI, 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 lo monitor and advise on the management of Parish finan¢es. Other committees meet at appropriate times. The PCC has adopted policies on Health and Safety and Child Protection.
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS COUNCIL MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Reference and administrativg infomiation Details are included on pages 1 and 2. Future We will continue lo develop links with the wider community by offering Spa for community activities and improving that spa, we will continue lo encourage participation and leadership from Church members in suGh aclivilies. We will continue to support and develop our contribution to education and Christian spiritual development al 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 le.g. Sunday Schools, Encounter, Youth Groups and Uniformed Organizationsl and by a program of adult Christian education and nurture and through ongoing training for those engaged in active ministry Iminislry Team and other lay leaders). through nurturing vocations lo ordained ministry and continued ministerial training, for ordains and newly ordained. We will continue to offer regular public Christian worship to Almighty God in the traditions of the Church of England. To facililale 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 il is available in the Diocese and wider Church. We will continue lo develop our ministry to the Church and the wider community through ministry al 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 lo review their giving regularly. We aim lo communicate effectively about the mission of the parish and lo be open about ils income and expenditure. We ale seeking ways lo develop a fundraising strategy which will widen our support base The Council Members are satisfied with the perfoimance of the Charty's investments. beanng in mind market Gondilions prevailing. On behalf of the board of Council members Rev. R. Reevo (Chalmianj 2024
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 2023, which are set out on pages 10 to 26. Respectlve responslbllltles of the Trustees and Independent Examinor The charity's trustees are responsible for the preparation of the a¢¢ounts. The charity's trustees consider that an audit is not required for this year undei Section 144 of the Charitie5 Act 2011 Ithe Charities Act) that an independent examination is needed. It Is my responslbility-. to examine the accounts under section 145 of the Charities Act. to follow the procedures laid down in the General Dirèctions given by the Charity Comrnission lunder section 14515llbl of the Charltles Act. and to state whether particular matters have come to my attention. Basis of Independent Examiner's Statement My examination wa5 carried out in accordance with the General Direction5 Éiven by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts prèsented with those records. It also include5 consideration of any unusual iterns or disc105ures In the accounts. and seeking explanations from the trustees concerrhin8 any such matters. The procedure5 undertaken do not provide all the evidence that would be required in an audit, and consequèntly no opinion is given a5 to whether the accounts present a "trve and falr" view and the report is limited to those matters set out in the statement below. Independent Examiner's Statement In connection with my examination, no material matters have come to my attention whlch gives me cause to believe that in, any material respect- accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the accounting records the accounts do not comply with the applicable requirements concerning the form and content of account5 set out in the Charities (Accounts and Reports) Regulatlons 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have come a¢ross no other matters in connection wilh the examlnatlon to which attention should be drawn in order to enable a proper understandinÉ of the accounts to be reached. Date.. 2024 Jonathan Hill FCMA CGMA Lichfield Diocesan Board of Finan¢e st MarS House, The Close, Lichfield, W513 7LD
PAROCHIAL CHURCH COUNCIL OF TErrENHALL REGIS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Note Unrestrirted Restricted Funds Funds Endowment Funds Total 2023 Total 2022 INCOME AND ENDOWMENTS Voluntary income Activities from generating funds Income from Investments Church A¢livities 31al 31bl 3 (GI 3{d) 153,394 5,127 79,785 39.550 2,379 590 9,061 13681 155,773 5,717 88,846 39,181 159,901 7,381 77,127 47,219 TOTAL INCOME 277,856 11.662 289,518 291,628 EXPENDITURE Cost of raising funds Church activities 41bl 41al 834 264,333 834 273,423 362 282,232 9,090 TOTAL EXPENDITURE 265,167 9,090 274,257 282,594 NET INCOME BEFORE INVESTMENT GAINS NET UNREALISED GAIN I ILOSSI ON INVESTMENTS 12,689 2,572 15,261 9,034 1,736 33,332 7,525 42,593 161,5411 NET INCOME I IEXPENDITUREI TRANSFER BETWEEN FUNDS 14,425 35,904 7,525 57,853 152,5071 NET MOVEMENT IN FUNDS 14.425 35,904 7.525 57,853 152,5071 Total funds brought forward 878.410 429.356 85.636 1,393,402 1,445,909 Total funds carried forward 892,835 465,260 93,161 1,451,256 1,393.402 The unreslricled funds at 31 December 2023 include £63,49212022.' £56.3261, which the Council Members have designated for Specif purposes. The notes on pages 13 to 25 form part of these accounts. 10
PAROCHIAL CHURCH COUNCIL OF TEThENHALL REGIS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 Note Unrestricted Restricted Funds Funds Endowment Funds T¢)tsl 2022 Total 2021 INCOME AND ENDOVWAENTS Voluntary income Activities from generating funds Income from Investments Churth Activities 31al 31bl 31cl 31dl 157,180 7,381 73,025 47,219 2,721 159.901 7.381 77.127 47,219 152,929 S,186 64,263 38,961 4,102 TOTAL INCOME 284,805 6,823 291,628 261,339 EXPENDITURE Cost of oising funds Church activities 41bl 41a) 362 264,688 362 282.232 194 283,460 17,544 TOTAL EXPENDITURE 265,050 17.5M 282.594 283,654 NET INCOMEIIEXPENDITUREI BEFORE INVESTMENT GAINS NET UNREALISED (LOSS} I GAIN ON INVESTMENTS 19.755 {10,7211 9,034 122,3151 11,429) (49,2691 {10,8431 161,5411 43,790 NET INCOME I IEXPENDITUREI TRANSFER BETWEEN FUNDS 18.326 1151 (59,9901 15 {10,8431 152,5071 21.475 NET MOVEMENT IN FUNDS 18.311 (59,9751 110,8431 152.5071 21.475 Total funds brought forward 860,099 489,331 96,479 1,445.909 1,424,434 Total funds carried forward 878,410 429,356 85,636 1,393,402 1,445,909 The unrestricted funds at 31 December 2022 include £56,326 {2021'. £57,155), which the Council Members have designated for spe¢ifi¢ purposes. The notes on pages 13 to 25 form part of these accounts. 11
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investments 795.500 477,363 796,350 434,770 1,272,863 1,231,120 Current assets Debtors Cash at bank and in hand 10 16,438 214,511 13,357 206,571 230.949 219,928 Creditors: amounts talllng due within one year 11 (23,9751 {26, 198) Net current assets 206,974 193,730 Total assets less ¢urront liabilities 1,479,837 1,424,850 Credltors: amounts falling after one year 12 128,5821 131,448) Net Assots 1,451,255 1,393,402 Funds Restricted funds Endowment funds UnrestriGted Funds 13 465,259 93.160 892,836 429,356 85,636 878,410 1,451.255 1.393.402 The accounts were approved by the Counoil Members on 2024 Rev R Reeve (Chairman) AC Cotton 12
PAROCHIAL CHURCH COUNCIL OF TErrENHALL REGIS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Funds of the charity Restricted funds represent al income from trusts or endowments which may be expended only on those reslricled objects provided in the terms of the trust or bequest, and bl 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 al the end of each year musl be carried foiward as a balance on that fund. The PCC does not usually invest separately for each ftjnd. Where there is no separate investment. interest is apportioned to individual funds on an average balan¢e basis. Restricted fijnds are to be used for specific purposes as laid down by the donor. Expenditu 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 lo be used for the upkeep of the properties of St Michael and All Angels Church. Swlndley Trust The fund was lo 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 lo be used for the relief of povety wrthin the parish of Tettenhall Regis. Harold Covers Memorlal The income of the fund is lo be used for making grants towards the development of Christian vocation and ministry in the parish but the family has r¥ indicated that, in future, capital could be used for purposes of benefit lo the parish. Bells Appeal The fund is to be used for the maintenance or restoration of the bells at Sl Michael and All Angels Church. EM Fox Legacy The fvnd 1$ to be used for educational purposes among children and young people in the parish. 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 lo be used lo support the tenants of the home through activities, Christian worship and pastoral care Tettenhall War Mgmorial Fund The fund is lo be used to asslst with the renovation of the memollal at St Michaels Church. 13
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Funds ofthe charity Icontinuedl Discretionary Fund (Hardship Fund) The fund is to be used at the dlscrelion 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 reslricled 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 Charlty has the followlng endowment funds: Tettenhall Turner Estate Tettenhall Regis Tildesley {churchyard and graves maintenance) Tettenhall Regis 1521 {church repairs or insurance) Tettenhall Regis Deakin Tettenhall Regis Forresler Tettenhall Regis Millinglon (churchyard mainlenancel 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 Deglgnated 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. Property funds Funds have been sel aside for the upkeep of St Michael and Al Angels, Christ the King Churches, St Paul's and Holy Cross. Choirfund The fund is to be used for the expense incurred by the Choir of Sl Michael and All Angels. Sunday School Funds The funds have been sel aside to help cover the expenses of the each of the Churches. Ixher Other funds have en sel aside lo assist in the running costs of frllowship groups Unrestricted funds Unrestricted funds are available for use at the discretion of the Council Members in rtherance 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 2023 Accounting policies Charity infomiation Parochial Church Council of Tettenhall Regis is a corporate body eslabllshed by the Church of England. 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, il is also the first year that they have been prepared under FRS102120161 as the applicable accounting standard and the 2016 version of the Ststement of Recommended Practice, Accounting and Reporting by Charities ISORP IFRS1021}. The dale of transition to FRS102 was 1 January 2015. The reported financial position and financial performan 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 lo the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice forcharilies applying FRS102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations bul which has since been withdrawn. The accounts are prepared in sterling, which is the fvnctional currency of the charity. Monetary amounts in these financi81 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. Going Coneern There are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern. Incomlng 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 a recognised as income when receivable, as long as they are capable of financial measurement. Investment income is credited lo the a¢counts when received net of management fees in accordance with the nomal practr. of investment managers. Resources expended Expenditure is accounted for as inCurd and indudes any VAT which cannot be fully recovered. Parish share is accounted for when payable. Charitable activrties comprise those ¢ost$ incurred by the charity in the delwery of its activities and services for ils benefiuaries. Costs of generating funds comprise fundraising costs. Grant expenditure is accounted for when pald. 15
PAROCHIAL CHURCH COUNCIL OF TErrENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 2A Tangible fixed assets and depreciation Tangible fixed assets are stated al cost less depreciation. Depreciation is provided at rates calculated lo write off the cost of each asset over its expected useful life. as ftsllows.. Plant and equipment IndNidual items under 100A p.a. on a slraighl line basis £100 are not capitalised No depreciation is charged on the freehold properties sinTr, 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 cary out an annual impairment review of these properties. Consecrated and benefice propety is not included in the accounts under s.10121 lal ofthe Charities Act 2011.The Property shown in the Financial Statements is deemed as Historical cost and therefore not revalued. Leaslng and hlre purchase commitmgnts Rentals paid under operating leases are Charged against income on a slraighl line basis over the period of the lease. Investments Quoted investments are initially recognised at their transaction value and subsequenuy measured al their fair value, as al the year-end dale. Gainsllosses arising on revaluation are charged to the respective fvnds. Gainsllosses arlsing on disposal are charged lo the funds immediately on disFX)sal. Incoming Resources Unrestricted Restricted Endowment Funds Funds Funds Total 2023 Total 2022 3{al Voluntary income Congregation Giving Tax recoverable Donations, appeals, etc. Grants 91,114 18,654 40,305 3,321 1,190 92,304 18,654 41,494 3,321 94,228 17,901 47,572 200 1.189 153,394 2,379 155,773 159,901 In 2022,£206 of Congregation Giving and £2,515 of the donations and appeals was attributable to restricted income funds. 16
PAROCHIAL CHURCH COUNCIL OF TErrENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Incoming Resources Icontinuedl Unrestricted Restricted Endowment Funds Funds Funds Total 2023 Total 2022 31bl Activities for generating funds General Fund-raising 5,127 590 5,717 7,381 5,127 590 5,717 7,381 In 2022, £nil of the activities for generating funds was attributable to restricted income fvnds 31c} Income from investments Parish Centre and Church Hall receipts Property Rents Dividends and interest including lax recoverable 58,248 15,039 58,248 15,039 54,825 14,575 6,498 9,061 15.559 7,727 79,78S 9,061 88,846 77,127 In 2022. £4,102 of income from investments was attributab to reslricled income fvnds, and £nil was in respect of endowment funds. 31d} Church activities Weddings and Funeral fees Church Magazine receipts Youth education Sundry 36,940 4LK) 36,940 400 14931 2,335 42,095 385 14931 125 2,210 4,739 39,550 13681 39,181 47,219 In 2022, £nil of the church activities was attributable lo restricted income funds 17
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 RESOURCES EXPENDED Unrestricted Restricted Endowment Funds Funds Funds Total 2023 Total 2022 41al chh activities Missionary and Charitable giving Home and Overseas Education 6,396 1,827 1,401 7,797 1,827 8,483 2,390 8,223 1,401 9,624 10,873 Ministy.. Diocesan Common Fund Fees for weddings and funerals Clergy working expenses Clergy housing Church workers. wagesttees Organist fees Church maintenance Church insurance Church light and heat Sanctuary expenses Church magazine costs Printing & stationery Parish Centre Property costs Church cottage expenses Bank charges Depreciation Retreat weekends Sundry expenses 145,605 15,169 1,500 147,105 15,169 5,504 47 10,195 7,603 15,838 8,021 17,702 4,860 148,102 15,963 2.160 47 10,195 7,603 15,998 8,021 17,702 4,860 8,614 8,284 32,418 7,383 17,610 3,022 50 5,263 7,870 492 5,619 392 450 613 7,053 -160 4,903 8,799 1,421 3,920 2,295 750 593 2,724 4,903 8,799 2,214 8,930 2,303 850 593 3,162 793 5,010 264,333 9,090 273,423 282,232 In 2022, £17,544 of the expenditure on church activities was attributable lo expenditure from restricted funds. 18
PAROCHIAL CHURCH COUNCIL OF TEThENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 RESOURCES EXPENDED Unrestricted Restricted Endowment Funds Funds Funds Total 2023 Total 2022 4(bl Raising Funds Stewardship envelopes General fund raising costs 293 540 293 540 194 164 834 834 362 In 2022 £Nil was expenditure from restricted fund$. Councll Members None of the Council membets lor any persons connected with them} recelved any reMUneraln during the year. Payments tolalling £5,50412022 £2,160) were made to 314) council members in respect of travelling and out of pocket expenses reimbursed. Employees 2023 No. 2022 No. Number of employees The average monthly number of employees during the year was.. Administrator Employment costs Wages and salaries 10,195 8,614 There were no employees whose annual emoluments were £60.000 or more Wages and salaries consist purely of Gross salaries., there are no Social Security payments or Pensions. as in 2022. Taxatlon In the opinion of the Council Members, all income of the charity in the year is outside the scope of income tsx, corporation tax or VAT. 19
PAROCHIAL CHURCH COUNCIL OF TEThENHALL REGIS NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tanglble flxed assets As at Additions 1 January 2023 Revaluations Dispo$al$ Asat 31 December 2023 Cost Freehold Propety Equipment Café Equipment 795,000 4,500 11.333 795,000 4,500 11,333 810,833 810,833 As at Charge for 1 J•nuary the year 2023 Revaluatlons Disposal Asat adjustment 31 December 2023 Depreclatlon Freehold Propety Equipment Café Equipment 3.150 11.333 850 4,000 11,333 14.483 850 15,333 Net book values At 31 December 2023 Al 31 December 2022 All fixed assets are used for direct charitable purposes. See note 2.4 -the propety is shown al a figure the trustees deem to represent historical cost and not ievalued. An impairment review is undertaken periodically to ensure the assets historical value is retained. 20
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Fixed asset investments Quoted Investments Market value at 1 January 2023 Nel unrealised gain on revalualKsns 434,770 42,593 Market value at 31 December 2023 477,363 Historical ¢ost' At 31 DeGember 2023 314,592 At 31 December 2022 314,592 The historical cost values have been estimated since they are not readity available. Underlying investments at fair value comprise.. Capitsl al 3lDeMber 2023 IoA} 17.51 55.52 10.61 16.36 UK Equities Overseas Equities Fixed interest Other 100.00 All of the investments are readily realisable. In addition to the above investments, a further £958,073 is held in the Diocesan trust under the supervision of the Incumbent and Churchwardens and is invested to generate income for the Parish. 21
PAROCHIAL CHURCH COUNCIL OF TErrENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Dobtors - 2023 2023 2022 Tax refunds due Prepayments and accrued income 12,228 4,210 4,426 8,931 16.438 13.357 Debtors - 2022 2022 2021 Tax refunds due Prepayments and accrued income ,426 8,931 9,012 4,318 13,357 13,300 11 Creditors: amounts falllng due wlthln one year- 2023 2023 2022 Trade creditors Paiish loan advance 21,111 2,864 23,334 2,864 23,975 26,198 Credltors: amounts falling due wlthin one year- 2022 2022 2021 Trade creditors Parish loan advance 23,334 26.254 2.864 26,198 29.118 22
PAROCHIAL CHURCH COUNCIL OF TEThENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Creditors: arnounts falling due after one year- 2023 2023 2022 T C James Loan- St Michaels Parish loan advan 25.000 3.582 25,000 6,448 28.582 31,448 Creditors. amounts falling due after one year- 2022 2022 2021 T C James Loan- St Mi¢haels Parish loan advance 25,000 6,448 25,000 9,310 31,448 34,310 The above loans bore interest al 1 Yo above bank base rate and are unsecured. 13 Restrlcted Funds Pknvement In funds Balance 1 January 2023 5,572 20,924 5,065 474 3,806 15,544 29S 4,328 33 153,265 151,994 61,831 1,012 3,923 1,291 Incomlng Resources & transfers Balance 31 De¢ember 2023 5,572 18,991 5,291 474 3,313 16,272 295 5,941 12,239 167,502 163,417 60,618 912 3,130 1,291 Outgolng Resources Revaluation Bells Appeal Blakeley Green House Earmarked Funds Hardship Fund EM Fox Legacy Harold Cavers Memorial Memorial Book Organ Fund Rhona Griffiths Legacy Rhona Griffiths Legacy Rhona Griffilhs Residue Swindley Trust Tettenhall In Need Tettenhall War Memorial Vicars Discretionary Fund 314 326 12.2471 {1001 1493) 728 1,453 160 12,2C6 14.237 8.101 11.2131 8,333 15,0101 1,000 11,1001 {7931 429.357 11,661 19,0901 33.331 465,259 NOTES TO THE ACCOUNTS (CONTINUED) 23
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS FOR THE YEAR ENDED 31 DECEMBER 2023 Balance 1 January 2022 5,582 22,916 6,210 475 3.813 15.545 265 5.337 10,246 173,186 175.293 65.731 512 3.930 291 Incoming Resources & transfers Balance 31 December 2022 5,572 20,924 5,065 474 3,806 15,544 295 4,328 33 153,265 151,994 61,831 1,012 3,923 1,291 Outgoing Resources Restricted funds 2022 Bells Appeal Blakeley Green House Earmarked Funds Hardship Fund EM Fox Legacy Harold Cavers Memorial Memorial Book Organ Fund Rhona Griffilhs Legacy Rhona Griffiths Legacy Rhona Griffiths Residue Swndley Trust Tettenhall In Need Tettenhall War Memorial Vicars Discretionary Fund Revaluation 1101 11,9911 11,1451 {71 30 206 3,331 {1,2151 {12,1591 161 11,3851 119,9151 124,0701 {3,8981 771 121 11,0001 171 1,500 1,000 489,331 6.838 {17,5441 {49,2691 429,356 14 Designated Funds Movement In funds Outgolng Resources and transfers Balan¢e 1 January Incoming 2023 Resources 2,320 16,200 4.487 Balance 31 December 2023 2.320 19.830 5.200 Revaluation Building Fund Building Repairs Choir Cornputer And Technology Equipment Maintenance Memorial Fund Cholr 2 Parish Properties Sunday School 1,267 2,363 713 1.400 22,496 1.400 26.153 1.302 2.923 4.133 2.320 3,806 {1501 1,302 4,558 3,563 11.6351 232 566 56,326 5,309 (6,6221 1,279 63.492 24
PAROCHIAL CHURCH COUNCIL OF TEThENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Designated Funds 2022 Movement In funds Outgoing Resources and transfers Balance 1 January Incoming 2022 Resources 2,335 13,600 5,081 Balance 31 Decembor 2022 2,320 16,200 4,487 Revaluation Building Fund Building Repairs Choir Computer And Technology Equipment Maintenance Memorial Fund Choir 2 Parish Properties Sunday School 1151 2.600 15961 1,000 22,496 550 1,301 6,756 4,036 1,000 16001 1,400 22,496 350 19001 1,302 4,558 3,563 2,000 (3.8381 13601 14731 15 Analysls of net assets beeen funds Unrestri¢t¢d funds Re$trl¢ted Endowment funds Total Fund balances al 31 December 2023 are represented by.. Tangible fixed assets Investments Current assets Creditors.. amounts falling due within one year amounts falling due after one year 776.200 13.430 155,762 123.9751 128.5821 19,300 370,772 75,187 795,500 477,363 230,949 123,9751 128,5821 93,161 892,835 465,259 93,161 1,451,255 Analysls of net assets betwgon funds 2022 Unre$tri¢ted funds Restrlcted Endowment funds Total Fund balances at 31 December 2022 are represented by-. Tangible fixed assets Investments Current assets Creditors.. amounts falling due within one year amounts falling due after one year 776,950 11,694 147,412 19,400 337,440 72,516 796,350 434,770 219,928 85,636 126.1981 131,4481 126.1981 131,4481 878,410 429,356 85,636 1,393,402 25
PAROCHIAL CHURCH COUNCIL OF TETTENHALL REGIS NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Related Party Transactions Totsl donations by 24 of the tnjstees in the year amounted to £9,836 {2022'. 24 - £9.642}. 17 Control The charity is controlled by the members of the Councll. 26