St Barnabas 'HVKLH IhE THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF ST. BARNABAS, ERDINGTON ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charity Registration Number: 1134064 HARWOODS CHARTERED ACCOUNTANTS
ERDINGTON PAROCHIAL CHURCH COUNCII FOR THE YEAR ENDED 31- DECEMBER 2023 CHARITY REFERENCE AND ADMINlStRATIVE DETAILS Charity Registration Number 1134064 Incumbent (Chairl Rev. Emma Sykes Curate Rev Susan Pearson Ifrom 26 June 20211 Church Wardens Simon Dodson Jane Wood Rebecca Helmn (Deputy from April 20231 Treasurer Simon Dodson Secretary Jane Smith Ico-optedl Elected Members Constance Dangare (Left April 20231 Barbara ubah (left April 20231 Derek Haywood Louise Ordidge Sandra Rogers ILeft April 20231 Rev Margaret Robinson ICc>optedl Sholadoye Bababunmi Hermine Brown Emily Sewell (co-opted December 20231 Registered Address High Street Erdington Birmin8ham B23 65Y Independent Examiner Adam Bexon Mchem FCA Harwoods Chartered Accountant5 l Trinity Placè Sutton Coldfield B72 ITX Bankers Lloyds Bank 207 High Street Erdington Birmingham B23 65Z
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAI PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 CONTENTS Annual Report Report of the Independent Examiner Statement of Financial Activities Balance Sheet 9-24 Notes to the accounts
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIAsficAL PARISH OF . BARNABAS ERDINGTON FOR ThE YEAR ENDED 31 DECEMBER 2023 ANNUAL REPORT The Parochial Church Council of the Ecclesiastical Parish of St Barnabas. Erdington is part of Church of England, Birmingharn. The correspondence address is St Barnaba5 Church Centre, High Street, Erdington. BirTningham B23 6SY. PCC members are either ex officio or elected by the Annual PÈrochlal Church Meetin8 IAPCMI in accordance with the Church Representation Rules. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Constltutlon or Document The PCC is governed by two pieces of Church of England legis13tion, called Measures. These are the P3rochial Church Council IPowersl Measure 1956 and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended). Recruitment of Trustees The method of appointment of PCC members Is set out in the Church Representation Rules. The membership of the PCC consists of the incumbent lour Vicar}, churchwardens, and members elected by those members of the congregation who are on the elertoral roll of the church. In addition, ordained clergy who are licensed to the parish (our Curate) are ex officio member5 of the PCC, as are eletted representatives to Deanery Synod Icurrentty Simon Dodsonl. All those who attend our serviceslmembers of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC. Nominations are called and persons voted for, or if there is no competition for places people are approved at an Annual Parish Church Meeting IAPCMI. Use of volunteer5 The PCC employs a number of staff in the finance, centre management, administration and food servi parts of its daily work, but also makes significant use of volunteers to carry out its work. Volunteers are involved in all aspects of the work and are supervised by leaders accountable to the PCC. Organisational Structure Tha PCC members are responsible for making decisions on all matter5 of general concern and importarice to the parish including deciding on how the funds of the PCC are to be spent. The full PCC fflet 11 times during the year. The PCC ha5 the following committees- Finance & Fabric Committee - The Finance & Fabrlc committee meets as required to aid financial and building fabric decision making and to provide financial clarity for the PCC. Community Hub Commlttee - The Communlty Hub committee meets as required to provide 5UPPOrt nd direction to deliver the strategy of the Hub in providing a safe place for all people to grow personally. with others in faith. for the people and place of Erdington.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLEsIAlcAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 ANNUAL REPORT Standing Committee - Thls is the only committee required by law. It has power to transact the business of the PCC between its rneetings. subject to any directions 8iven by the Councll. We did not need to meet this year. Rlsk Management The PCC reviews the key risks facing the Church, the controls in place to mitigate them and any action required on an ongoing basis. The PCC continues to review and develop the strategic dirertion of the church and considers how its exposure to risk thanges as 3 result. OWEcfivES AND AcllviTIES B3ckground The PCC has the responsibility of cooperating with the Reverend Emma Sykes In promotlng In the ecclesiastical parish the whole mission of the Church of God. Pastoral. Evangelistic. Social and Ecumenical. The PCC Is also responsible with the Church Centre manager and Community Hub manager for maintaining the Community Hub, Anchor Rooms and Light house meetlng space. Church vlsion, mlsslon and values Vlsion Our vision Is to be a beacon of hope on the high street. That hope tomes through trusting in God's faithfulness, sharing God's IDve and being inspired by Jesus. word5: "1 have come in order that you might have Ilfe- life In all ivs fulness" (John 10..101. Mission We put that vision into practice by being a worshipping cornmunity that creates a safe and welcoming space to all. The high street is busyi vibrant, and diverse and we see life in all its fullness everydav through the range of joys and deep challenges that people face in their lives. Our mission is focused on: Worship- that is invitational, inclusive. all-age and creative. We want all people to be invited into the richness of a growing relationship with God who brings life in all its fullness. Community- we Serve the needs of our community through our community hub actNities that focus on the '5 Ways to Wellbein8'. We have conference rooms available for hire that help to resource our mission and ministry. Values We live out our vision and mission in the following way= chrfst Centred we are learning and growing together In our understanding of what it mean5 to be Christ centred in all that we do. Prayer underpins everything we do. Our worship 15 Eucharistic. MInding us God is with us through Jesus and bring5 life through the work of the Holy Spirit.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 310ECEMBER 2023 ANNUAL REPORT Continued Indusive- St B3rn3bas Church is registered with the Inclusive Church network. Everyone is welcome here and we do not discriminate. We seek to remove any social. economic or physical barriers that may prevent anyone from accessing our worship and activities. Collaborative- we seek to work with others in partnership. We value the gifts of all and believe we can be stronger together. We work with local churche5. charities. orEanisations, local governing bodies and businesses to bring atK)ut PD51tive change. Participatory- God values all and so we believe everyone has a God given gift they can contribute- whether it be skills, passion, krFowledge, time or resources. We actively seek out, discover, and celebrate those gifts. Diversity- we value difference and believe we are richer for it. We seek to reflect our multicultural community in our worship and community activities and in the perspectives represented in our decision making and governing body. Local- we love Erdington. We believe in it and want the very best for it. We will buy and invest locally where we can. Eco-conscious- we are concerned about the impact of human activlty on the environment and our need to conserve natural resources. We aim to minimise consumption and waste, re-use pre-owned items rather than buying new and recycle wherever we can. We want our church building and churchyard to embody God's care for creation. Promotes Wellbeing- we encourage engagement with the 5 Way5 to Wellbeing. We practice them ourselves and incorporate them in our work culture. Public Benefit Statement The PCC takes its responsibilities as a charity very seriously. The church has a5ways contributed a great deal to the community, even in the years after the devastating fire, and will strive to continue to do so. The PCC seeks to be as inclusive as possible in its work and strives to reach out to people of all ages and backErounds. Our aim is to involve as many people as possible in both running and participating events and activities, many of which have the able support of volunteers. The worship, courses and activities are open to anyone within and outside the local community. The Church building and centre spaces are important local resources and are used by various groups and individuals not directlv connected to the Church for their own activities and events. The Church and Chapel are used throughout the week as quiet space for some of the most lonely and vulnerable in our comrnunity as well as offering places for prayer for many others. While many who join us in our gatherings are very generous in their donations to the PCC, there is no requirement for anyone attending services to donate money to the church. Any chargÈs levied for Specific activities and events are kept as low as possible to still be viable financially, and the PCC will look to help where people are struggling to afford the cost.
THE PAROCWIAL CHURCH COVNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2D23 ANNUAL REPORT ContinuÈd The staff with oversight of the Incumbent and PCC has for8ed strong links with a range of indlviduals and organisation5. In addition to local gNing the PCC re¥iews regular giving to UK and International charities annually. to promote the Christian faith and to help the vulnerable and needy from all faith5 and backgrounds. In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission's 8uidance on public benefit. Financial Review Total income for the year was £290,652 of whbch £261,557 were unrestricted. This included plannéd voluntary donations £34,422, open plate of £7,101, other donations of £7,022 and a further £7,875 was from Gift Aid Income Tax Recoverable. Grants of £16,648 were received from varlous local funders to support our Community Hub activity- Total income increased by £13.8k, a 5% increase compared to 2022, relating to both restricted and unrestricted income, predominately due to an increase in giving. grants received, and room hire activity. Café income was lower in 2023 as the Café was closed in June 2023 with redundancy payments made as appropriate. Total interest and Investment income of £97.9k in line with 2022 giving a returning on investment of 4%. PCC approved the sale of 174k shares during 2023 to support operational and development eXpenditre. £346,043 was spent from the unrestricted funds to provide the Christian ministry from St. Barnabas Church. including £68.3k, being the contribution to the diocesan parish share. This largely provides the stipends and housing for the clergy. The Community Hub activity increased in 2023 delivering more activities, eg, Welcome Space, Coffee Mornings, Well Beingi Youth Café, Stay and Play, to 5UPPOrt the local community. £25,622 was spent from the restri(ted funds. £12,223 to provide Community Hub activities funded through grants received, £12,(MJ) to 5UPPQrt costs for our children and families missioner and £1,399 to support clergy stipends. The Churchyard development project was initiated in 2022 tg increase understanding and engagement with the christian f31th by creating a beautiful and peaceftjl environment for reflective prayer and contemplation in the churchyard, improving physital. natural and social environment, encouraging environmental sustainability and to restore and preserve the historical heritage of the site. This year we have not been able to progress the church yard project as much as we have hoped. However, we have developed a much better sustainable plan for the upkeep and safety of the church vard. Wlth the appointment of an operation5 manager planned for 2024, we will be able to move this forward and raise the money needed to do the planned reBeneration. The Balance Sheet remains strong with a change in the Tangible Fixed A55ets of £2.2m ot which £2m relates to investment assets vthich included the sale of 174k shares during 2023. approved by PCC. The investment value suffered an unrealised loss of £52k. The Machin Restricted funds made a transfer from iys short term deposit actount of £12.CNJO which was used to support Children and Families Evangelical costs in line with the Bequest agreement.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF 5T. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 ANNUAL REPORT Continued Reser¥e5 Policy It is PCC policy to try and maintain a balance on free reserves (net current assets) which equates to at least 3 months unrestricted payments. This is equivalent to £75k. It is held to smooth out fluctuations in cash f low and to meet emergencies. The balance of net current assets at the end of the year was £235,165. Our funds balance at the end of the year remained strong with Unrestrirted fund of £133,647, Designated - Rebuilding fund of £1,844,182, Restricted funds of £18.623 and Endowment fund of £51.178. Further information on funds is broken down In notes 7 to 10. It is our polio to invest the short-term investment fund balances with the CCLA Church of England Investment Fund Trustees. responsibilities stutement The trustees are responsible for preparing the Trustees, Annua5 Report and the financial statement5 111 accordance with 3pplicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accovnting Pr3£ticel. The law applicable to charities in England & Wales reouires the trustees to prepare financial statements for each financial year, which give a true and fair view of th2 State of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply therr consistently- observe the methods and principles in the charities SORP 2015 IFRS 1021,. make judgements and estim3tes that are reason3ble and prudent,. State whether applicable accounting standards h3ve been followed, 5ubjert to any material departures disclosed and explained in the financial statement5,' prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper atcountiThg records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement5 comply with th2 Charities Act 2011, the Charities (Accounts and Report5) Regulations 2008 and the provisions of the trust deed. They are also responsible for 5afeEuarding 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 financial information included on the charivs web51te. Legi513tion in the United Kingdom governing the preparation and dissemlrnation of financial statements may differ from legislation in other jurisdictions.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLE51A5TICAL PARISH OF ST. 8ARNABA5 ERDINGTON FOR THE YEAR ENDED 310ECEMBER 2023 INDEPENDENTEXAMINERS REPORTTOTHE TRuEE5 OFTHE PAROCHIALCHURCH COUNCIL OFTHE ECCIESIASTICAL PARISH OF ST. BARNABAS EROINGTON I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023. which are set out on pages 7 to 24. Responsibillties and basls of report As the charitls trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the ACYI. I report in respect of my examination of the charity's account5 carried out under section 145 of the A and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examinerfs statement Since the charity'5 gross income exceeded £250,000 your examiner rnust be a meinber of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of The Institute of chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no rrtaterial matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: attounting records were not kept In respect of the charity as required by settion 130 of the Act; or the accounts do not accord with those records.. or the accounts do not comply with the applicable requirements concerning the form and tt)ntent of accounts set out in the Charitie5 (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair Vie which is not a matter considered as pan of an independent examination. 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. Adam Bexon Mchem FCA For and on behalf of Harwoods Chartered Accountants Statutory Auditor l Trinity Place Mldland Drlve Sutton Coldfield B72 ITX Date
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER2023 STATEMENT OF FINANCIAL ACTIVITIES Note Unrestricted Funds Restricted Endowment Funds Fund Total Funds 2023 Total Funds 2022 INCOMING RESOURCES DDnor5 Other voluntary donors Operating activities Interest Teceivèd Other income Investment income 2a 2b 2c 2d 49.398 7,022 105,159 4,465 14,562 80,951 49,398 23,670 105,159 4,590 14,562 93,273 42,032 12,901 108,251 16.648 125 15,741 97,141 2f 10,923 1,399 TOTAL INCOMING RESOURCES 261,557 27.696 1,399 290,652 276,867 Resources expended Grant5 Activities directly related to the work of the Church church management & administration 1,399 1,399 1,391 3b 332.208 12,224 344,432 360,762 3c 13,835 13.835 15,476 TOTAL RESOURCES EXPENDED 346.043 12,224 1,399 359.666 377,629 Net loutgoingllincomlng resources for the year 184,486 15,472 169,0141 1100,7621 ILos5esl/gains on investment . Realised 22,809 22,809 Unreali5ed 191,1551 34,332 4,401 152,4221 1293.3581 Transfers between funds 11.604 111.6041 Balances brought forward at l January 2022 2.119.057 370,423 46.777 2,536,257 2,930,377 Balances carried forward at 31 December2023 1.977,829 408,623 51.178 2,437,630 2,536,257 The notes on pages 9 to 24 form part ofthese accaunts
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON R THE YEAR ENDED 31 DECEMBER 2023 BAIANCE SHEET Note 2023 2022 FIXED ASSEf5 Tangible fixed assets Investment assets 4a 4b 246,896 1,954,569 250,621 2,204,182 ?.,201,465 2,454,803 CURREr ASSETS Stocks Short term deposits Debtors and prepayments Cash at bank and in hand 1.082 16,855 19,372 63.218 191.979 29.398 38,635 260,012 100,527 CURRENT LIA81LITIES Creditors: amounts falling due within one year 23.847 19,073 NET CURRENT A55ETS 236,165 81,454 NET ASSET5 2,437,630 2,536,257 FUNDS UTrre5tricted- Other 133,647 43,5C(J Designated - Rebuilding fund Smaller funds 1.837,969 6,213 2.073.366 3,191 1,844,182 2,075,557 1.977.829 2,119,057 Restrirted Endowment 9&10 io 408.623 51.178 370,423 46,777 459,801 417,200 2,437,630 2,536,257 Approved by the Parochial Church Council on and gned on its behalf by Church Warden Treasurer The notes on pages 9 to 24 form part of these attounts
THE PAROCHIAL CHURCH COUNCIL OF ThE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FO THE YEAR ENDED 310ECEMBER 2023 NOTES TO THE ACCOUNTS ACCOUNTING POLICIES BASIS OF FINANCIAL STATEMENTS 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 ReF)Orting Standard applicable in the UK and Republic of Ireland issued in October 2019 the Financial Reporting Standard applicable in United Kingdom and Republic of Ireland IFRS 1021 Charities Act 2011 and UK Generally Accepted Accounting Prartice. Erdington Parochial Church Council constitutes a public entity under FRS 102. The financlal statements have been prepared undèr the historical cost comientlon except for investment a55ets, which are shown at market value. The financial statement includes all transactions, assets and Ilabilities for which the PCC is responsible in law. They do not ir)clude the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. The financial ststemellts are prepared Dn a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling, which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financi31 statements are set out below. These policies have been consistently applied to all years prosÈnted unless otherwise stated FUND ACCOUNTING Restricted Funds comprise (al intome from endowments, which is to be expended only on the restrlcted purposes intended by the donor, and Ib) revenue donations or grants for a specific PCC activity intended by the donor. Where these funds have unspent balances, interest on their investment is credited to the individual funds. Unrestrirted Funds are income funds, which are to be spent on the PCCS general purposes. Designated Funds are general funds Set aside by the PCC for use in the future. INCOMING RESOURCES Planned givin& collections and similar donations are CognISed when receNed. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLEsIAlcAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NO HE ACCOUNTS Continued ACCOUNTING POLICIES CONTINUED considered reasonably certain and the amounts due are readily quantifiable. Dividends are accounted for when declared receivable. Interest as and when accrued by the payer. All incomin8 resources are accounted for gross. Government grants were received in re13tion to COVID-19. These grant5 are recongnised at their fair value of the asset recèivpd or receivable when there 15 reasohable assurante that the tompany will comply with tondltions attaching to them ar¢d the grants will be received using the performance/accrual model. RESOURCES EXPENDED Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or Constructive obligation on the PCQ The diocesan parish share expected to be paid over is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for 8ro55. 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 retognised where there is a legal or construrtive obligation to make payments to third parties, It is probable that the settlement will bÈ required and the amount of the obligation can be measured reliably. It is categoris@d under the following headings: Expenditure on charitsble activities see note 3a and 3b; and Other expenditure represents those Items not falling into the categories above See note TANGIBLE FIXED ASSETS Tangible fixed assets are stated at cost lor deemed costl less accumulated depreciation and accumulated impaiment losses. Cost include5 Costs directly attributable to making the asset capable of operating as intended. Depreciatlon is provided on all tangible fixed assets. at rates calculated to write off the cost. less estimated residual value. of each asset on a systematic basis over its expected useful life a5 follows.. Plant and equipment 33% on c05t Consecrated and benefice property is not included in the accounts in accordance with s.1012llal and (cl of the Ch3rities Act 2011. 10
THE PAROCHIALCHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNT5 Continued ACCOUNTING POLICIES CONTINUED The company has a policy of not provlding for depreciation on Freehold property. It is considered that depreciation is immaterial due to both the very long useful economic lives and the high residual value of the assets. The company has a policy and practice of regular maintenance and repair Icharges for which are recognised in the profit and loss account) such that the Freehold property is kept to its previously assessed standard of performance. In addition to this, it is considered that the Freehold property is unlikely to suffèr from economic or technological obsolescence. The company reviews the Freehold property for impalrmeTht at the end of each reporting period Movable church furnishings held by the Vicar and the Churchwarden5 on special trust for the PCC. and which require a faculty for di5P05al are inalienable property, listed in the Church's Inventory, which can be inspected lat any re3sor)able timel. IMPAIRMENT Assets not measured at fair value are reviewed for any indication th3t the asset may be impaired at each balance sheet date. If such indication exists. the recoverable amount of the asset. or the asset's cash generating unit, 15 estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amDunt where the impairment loss is a revaluation decrease. INVESTMENTS Investment5 are recognised initlally at fair value which is normally the transaction price excluding transattion costs. Subsequentlyi they are measured at fair valuo with changes recognised in 'net g3inslllosses1 on investments, in the SOFA if the share5 are publicly traded or their fair value can otherwise be measured reliably. Other invèstments are measured at cost ess impairment. Current asset investments are short term hlehly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year. CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise cash on hand and other short-term highly Ilquid investments that are readily convertible to known cash and are subjett to an insignificant risk of change in value.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLE51ASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THÉ YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Continued ACCOUPMNG POUCIES CONTINUED STOCKS Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase. costs of conversion and other costs incurred in bringing Stock to its present location and condition. Cost is calculated using the Pirst-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. DEBTORS AND CREDITORS RECEIVABLE I PAYABLE WThHIN ONE YEAR Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction pri. Any losses arlslng from impairment are recognised in expenditure. PROVISIONS Provisions are reco8nised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefrts will be required in settlement and the amount can be reliably estimated. TAX The charity is an exempt charity within the meaning of sthedule 3 of the Charities Art 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. GOING CONCERN The financial statements have been prepared on a going concem basis as the trustees believe that no material uncertaintiès exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial Statements. The budgeted income and expenditure is sufficient with the level of reserves fDr the charity to be able to continue as a going toncem. EMPLOYEE BENEFITS When employee5 have rendered service to the charity, Short term employee benefit5 to which the employee is entitled are recognlsed at the undiscounted amount expected to be paid in ex¢hange for that service. The charity operates a defined contribution plan for the benefit of its employees. Contributions a expensed as they become payable. 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Continued INCOMING RESOURCES INCOMING RESOURCES FROM DONORS Unrestricted Funds Restricted Endowment Funds Funds Total 2D23 Total 2022 Collections Planned givir)g Gift Aid & pledged giving Income tax recoverable Open p13te 34,422 7,875 7,101 34,422 7,875 7,101 29,211 7,771 5,050 49,398 49,398 42,032 13
ERDIN PAROCHIAL CHURCH COUNCIL NOTES TO THE ACCOUN ConL FOR THE YEAR ENDED 31 DECEMBER 2018 TE THE in INCOMING RESOURCES CONTINUED OTHER VOWf4TARY INCOMING RESOURCES Unrestricted Funds Restricted Endowment Funtls Funds Totsl 2023 Total 2022 Donations Special Government Grants 7,022 7,022 16,648 5,527 7.374 16.648 7,022 16,648 23,670 12.901 INCOME FROM OPERATING ACTIVITES TO FURTHER THE COUNCIL'S OB)EIVES Unrestricted Fund5 Restricted Endowment Funds Funds Total 2023 Total 2022 Café taking5 Church Centre letting5 pcc fees Traidcraft 20,522 82,629 2.008 20,522 82,629 2.008 45,184 59.291 96 105,159 105.159 108.251 INTEREST RECEIVED Unrestricted Funds Restricted Endowment Funds Funds Total 202 Total 2022 General funds Machin fund 4,465 4,465 125 689 112 125 4,465 125 4.590 801 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIA5TI(AL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Continued INCOMING RESOURCESCONTINUED OTHER ORDINARY INCOMING RESOURCES Unrestricted Funds Restritted Endowment Funds Funds Total 2023 Total 2022 Rent Curate Housing Contribution Insurance Claim Sundry Income 6,100 7,500 6,100 7.500 6,100 7,500 2,139 962 9G2 14,562 14,562 15,741 INVE5TMETrif INCOME Unrestricted Funds Restricted Endowment Funds Funds Total 2023 Total 2022 General funds Machin fund specific funds 80,951 80,951 10,359 1,963 84,875 10,301 1,965 10,359 564 1,399 80,951 10,923 1,399 93,273 97,141 RESOURCES EXPENDED GRANTS Unrestricted Funds Restricted Endowment Funds Funds Total 2022 2023 Subscriptions & donations 1,399 1,399 1,391 1,399 1.399 1,391 15
THE PAR HIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR TYE YEAR ENDED 31 DECEMBER 2023 NOTE5 TO THE ACCOUNTS Conttnued RESOURCES EXPENDED CONTINUED ACTIVITES DIREcfLY RELATING TO THE WORK OF THE CHURCH Unrestricted Restricted Endowment Funds £ Funds £ Fund5 £ 68,302 7,800 27.270 2,641 3,822 Total 2023 £ 68.302 7.800 27.270 2,641 3,822 Total 2022£ 68,302 6,965 27.765 1,716 6,126 Diocesan parish share Insurance Heating & lighting Water rates Alarm & security Repairs, Maintenance & Running Costs: Church fabrit & centre Clergy house Churchyard Cleaning Telephone & Broadband Clergy expenses Organist & musicians Traidcraft Room Hire Cafe costs Café wages & national insurance church Centre costs: Church Centre salaries & national insurance Church running costs Churchyard DeevelopTnent Cost Community Hub Bad Debts 35,713 2,652 3,360 3,199 7,606 378 2,170 35.713 2.652 3,360 3,199 7,606 378 2.170 38,040 6,665 504 3,006 8,773 795 1,025 7,365 11.331 7.365 11.331 76 21,713 45,816 45.816 47,277 92,890 8,695 176 962 60 92,892 8,695 176 13,186 60 90,806 13,471 17,736 12.224 332,208 12224 344,432 360,762 CHURCH MANAGEMENT & ADMINISTRATION Unreslricted Restricted Fund5 £ Funds£ Endowment Funds E Total 2023 £ Total 2022 £ PriTrting stationery & office expenses Bank charge5 Credit card charges Website Professional charges Depreciation 2,372 504 502 568 3,960 5,929 2,372 504 502 568 3,960 5.929 1,435 747 784 409 6,967 5,134 13,835 13,835 15,476.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLE51ASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE Accou Continued 4. FIXED ASSEfs FOR USE BYTHE PCC 16 Total Land & Buildin Plant& At l January 2023 Additions Disposals At 31 December 2023 271.540 2,204 240,082 31,458 2,204 DEPRECIATION At I january 2023 Charge for the year Relating to disposals At 31 December 2022 20,919 5,929 20,919 5,929 NET BOOKVALUE At 31 December 2023 46 Cornparative information in respect of the proceedings perlod Is as follow5: Total Land & Buildin Plant & tment ui At l January 2022 Additions Disposa15 At 31 December 2022 268,405 3,135 240,082 28,323 3.135 At I january 2022 Charge for the year Disposals At 31 December 2022 15,784 5.135 15.784 5,135 91 NEf BOOK VALUE At 31 December 2022 17
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF T. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Continu INVESTMENT ASSET 2023 2022 Market value at l January 2023 Sales proceeds from di5P05als Gainslllossl in the year- realised unrealised 2.204.182 1220,0001 22,809 2.497.540 293 358 Market value at 31 December 2023 204 5. DEBTORS Trade debtors Prepayments & accrued income Other debtor5 14.769 7,263 7,366 6.414 4.328 8.630 29,398 19,372 6. CREDITORS 2023 2022 Trade creditors Accruals & deferred incame Amount5 due to Third Parties Other taxes and social security costs 11.462 10,907 1,325 153 7,055 9,917 400 1,701 23.847 19,073 18
THE PAROCHIAL CHURCH COUNCILOFTHE ECCLESIASTICAL PAR15H OF ST. BARNABAS ERDINGTON R THE YEAR ENDED31 DECEMBER 2023 NOTE5 TO THE ACCOUNT5 Continued 7. UNRESTRICTED FUNDS 2023 2022 Balance as at l January Interest Investment Income 43.500 1.987 247,190 676 55,365 257,716 Gain/lLossl on investrnent realised unrealised Transfer fromlltol designated fund Transfer fromlltol restricted fund Net incomingloutgoingl resources for the year 14,460 3,262 211,979 11,616 1163.03SI 120.5061 116,2941 13,1311 950 1175,2361 Balance a5 at 31 December 133,647 43.500 DESIGNATED FUNDS Rebuilding Fund 2023 Rebuilding Fund 2022 Balance at l January Interest Investment income 2,072,366 33 71637 2,144,036 22,809 1108,8761 1220,0001 2,198,231 13 75.598 2,273,842 Gainlllossl on investment- Realised Unre31ised 1201,4771 Transfer to General Fund Expenditure 8alan¢e at 31 December 1,837,969 2.072,366 2023 2022 Small Deglnated funds Community Hub Fund Youth Fund Flower Fund Youth Alpha Fund Special Prolects 2,129 2,000 35 59 I,W5 2,OC(J 178 6213 Total - De51gnated 2 075 557 19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF sr. BARNABAS ERDINGTON FQR THE YEAR ENDED 31 DECEMBER 2023 THE ACCOUNTS Contlnue RESTRICTED FUNDS- BEQUESTS Invested Market Value 31.12.2023 Income Donation to Diocesan nd Fund Total sti Grave maintenance Dean 57 Pearl 95 - Swindell 659 416 -Turner 217 Vlncent 128 Sunday School outingslparties Hailston 693 15 15 Memorlal tablet malntènance Rolla50A 83 Grave malntenance & gèneral use ioi 2.758 75 75 Robblns - Tilley 5.493 150 150 Family 8r8ve maintenance Wilkins 2 4,883 133 133 Grave maintÈnance & thoir outings - leacock 750 474 io io Evangelical tra5ning Fowler 100 5,855 160 160 Total Restricted Bequests 21,106 565 565 Restricted Funds- Endowment Erbdowment augmentatlon - Swindell 51,178 1.399 11,3991 565 Transfer to general fund
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACC UNTS Continued Comparative information in respect of the prgceeding period is as follow5: RESTRIED FUNDS- BEQUESTS CONTINUED Invested Market Value 31.12.2022 Income Donation to Diocesan Sti end Fund Total Grave m3intenan£e Dean 54 Pearl 148 90 Swindell 659 394 li li Turner 206 - Vincènt 128 78 Sunday School outingslparties Hailston 1,083 656 19 19 Memorial tablet malntenance Grave maintenance & gener31 use Rollason 129 78 Robbins 2,521 75 75 rilley 250 5,021 149 149 Family grave m3intenan£e Grave maintènance & choir outings Evangelical tr3ining Wilklns 2CQ 4,463 133 133 Jea¢ock 750 449 13 13 Fowler 100 5.351 159 159 Totsl Restricted Bequest5 3.980 19,361 574 574 Restrirted Funds- Endowment Endowment augmentatlon Swindell 1,000 46.777 1.391 11,3911 Transfer to general fund 574 21
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Continued io. RESTRicfED FUND- OTHER Machin Fund 2023 Machin Fund 2022 Balance at l January Investment income Interest Gain/llosslon Investment- realised -unrèalised 351,062 10,358 125 409,111 10.301 32.587 146,2131 394,132 1110001 373,311 {21,3001 949 Expenditure Transfer to General Fund Balance at 31 December Small Restricted Fund5 Community Hub Parsonage Decoratlon Scheme 4,425 959 Total Restrlctred Fund The Machin fund Is a restricted fund and used for Evangelical causes children's work. 417 200 The Community Hub is a restricted fund to support the community in activities that provide a safe place for all people to grow personallyi Wlth other5 in faith, for the people and place of Erdington. The Parsonage Decoration Scheme is a restricted fund to 5uppprt repairs and decorating Costs of the vicarage ii. ANALYSIS OF NEf ASSEfs BY FUND Unrestricted Funds Desi nated Funds Restrirted En Funds wmen 2023 Fixed a55ets for Church use Investment fixed a55etS Current assets Current liabilities 6.814 293.731 1137,6661 123,8471 240,082 1.209.6 394.499 246,896 1,954,568 260,012 123,8471 4DJ,059 3,179 51,178 Fund balance 139,032 1.844.181 403,238 51,178 2,437,629
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON FOR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Continued Comparative information in respect of the proceeding period is as follows- Unrestricted Funds Desl nated Funds Restrirted Funds ndowmen Funds 2023 2022 Fixed assets for Church use Investmeni fixed assets Current assets Current liabilities 10,540 276,010 1223,9771 119,0731 240,082 1,515.667 319.808 250,622 2,204,181 100,527 119,0731 365,727 4,696 46.777 Fund balance 43,500 2,075,557 370,423 46,777 2,536,257 12. INDEPENDENT EXAMINERS REMUNERATION The independent examiners femuneration amounts to £2.40012022 £2,3501. 13. TRUSTEES, AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES The reimbursement of trustees, expenses was a5 follow5: 2023 Number 2022 Number 2023 2022 Travel 39 102 39 102 Included in above are £Nil12022 £Nill which have been paid directly to third parties. Barbara Ubah is the only Trustee in receipt of a remuneration and during 2023 her salary has been £2.19512022- £11,160) and the employers pension contribution was £2412022 - £1571. The cafe closed in 2023 and Barbara Ubah was made redundant on 10.06.2023. her redundancy pay was £1,302. She was employed part-time and her role was that of Café Supervisor. 23
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST. BARNABAS ERDINGTON OR THE YEAR ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS Continued 14. STAFF cosrs AND EMPLOYEE BENEFtrs The average monthly number of employee5 employed during the year for charitable artivities is 1012022- 111. The total staff costs and employee benefits were as follow5: 2023 2022 Wages and Salarles Redundancy social SecLtrity Defined Pension Cost 130,465 4,248 3.121 2,349 140.183 132,866 2,978 2.239 138,014 No employees received total employee benefits (excluding employer pension costs) of more than £60,000. 15. RELATED PARTY TRANSAcnoNS There are no related party transattions durlng the period12022 £Nill. 24