Charity registration number: 1134214
## PCC Chilwell
Annual Report and Financial Statements for the Year Ended 31 December 2023
Community Accounting Plus Unit 1&2 Northwest 41 Talbot Street Nottingham NG1 5GL
## **PCC Chilwell**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7 to 8|
|Balance Sheet|9|
|Notes to the Financial Statements|10 to 20|
## **PCC Chilwell**
## **Reference and Administrative Details**
**Trustees** Rev Andy Tufnell, Chair Mr Stephen Scott, Church Warden Mrs Anne Willmot, Church Warden Mrs Penelope Wallace Mr Chris Brignell, PCC Secretary Mrs Dawn Clarke Mr Tim Hills Mrs Janis Patterson Mrs Judith Renton Mrs Dawn Pringle Mr Will Ottewell Mrs Marion MacDonald Dr Rebekah Redwood Mr Guy Gillibrand Mr Roger Lee Mr Robert Dixon Mrs Deborah Onions Mrs Hannah Wood Mrs Chris Jones Ryan Mellor Claire Tufnell Miss Ruth Hawley Mr Tom Ringrose **Charity Registration Number** 1134214 **Principal Office** 6 College Road Beeston Nottingham Nottinghamshire NG9 4AS **Independent Examiner** John O'Brien, employee of Community Accounting Plus Unit 1&2 Northwest 41 Talbot Street Nottingham NG1 5GL
Page 1
## **PCC Chilwell**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Trustees:
Rev Andy Tufnell, Chair Mr Stephen Scott, Church Warden Mrs Anne Willmot, Church Warden Mrs Penelope Wallace Mr Chris Brignell, PCC Secretary Mrs Dawn Clarke Mr Tim Hills Mrs Janis Patterson Mrs Judith Renton Mrs Dawn Pringle Mr Will Ottewell Mrs Marion MacDonald Dr Rebekah Redwood Mr Guy Gillibrand Mr Roger Lee Mr Robert Dixon Mrs Deborah Onions Mrs Hannah Wood Mrs Chris Jones Chris Bourne (resigned 27 April 2023) Ryan Mellor Claire Tufnell Miss Ruth Hawley (appointed 27 April 2023) Mr Tom Ringrose (appointed 27 April 2023) Mr Mark Baker (resigned 31 December 2023) Mr Ken Lyon (resigned 2 July 2023) Mrs Chris Roseblade (resigned 27 April 2023) Mr David Fowler (resigned 27 March 2023)
Page 2
## **PCC Chilwell**
## **Trustees' Report (continued)**
## **Objectives and activities**
## _**Objects and aims**_
The objects of the Charity are: to advance the Christian faith and to promote in the parish of Chilwell the whole mission of the church. The trustees must use the income, and may use the capital, of the Charity in promoting these objects.
## **Objectives, strategies and activities**
Activities are organised from one or other of the two Church of England places of worship in the parish, Christ Church on High Road and St Barnabas on Inham Road.
The Charity holds regular services of Christian worship, carries out various activities and events for young people, older people (including some in residential care), parents and children, and people with pastoral and social needs. Services, events and activities are open to any person in the community, whether or not they are regular worshipping members of Christ Church or St Barnabas.
## _**Public benefit**_
All services and events are open to members of the public and are mostly free of charge at the point of delivery. Where events are charged at cost this is advertised in publicity material.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
The Charity aims to minister to social and spiritual needs. The Charity has welcomed more people to services this year and seen growth in it's work with children and young people.
The Community Hub run at St Barnabas church as part of the charity, has continued to provide services through the various clubs and schemes it runs, and has also expanded to run a "Food Club" after the local Children's centre was unable to continue running. The Community Hub continues to be recognised by local councils as a well run and utilised resource, attracting grant funding, even when not specifically seeking it. The church has been involved with a number of local schools, providing support and materials to support learning. In addition to its work in the parish of Chilwell the Charity also provides financial and other support to a number of individuals and organisations. These are approved by the trustees from time to time, and the churches receive information to enable support and prayer.
A more detailed description of achievements in the reporting period is provided in the parish Annual Review which is presented to the annual church meeting, and copies are available on request to the parish office.
## **Financial review**
The Charity income was £195.3k more than expenditure in 2023, with a balance of £482k. The significant surplus was mainly due to a further aspects of a large legacy that the Trustees are currently determining the best use of. Staffing levels during the course of the year have increased, although the full revenue cost of this is not yet represented. The charity also made one off gifts to a number of charity partners to clear a surplus of designated Outward Giving funds. Generally the charity is in a sound position.
## _**Policy on reserves**_
The majority of receipts are monthly, then quarterly (eg gift aid claims). We therefore need between 1 and 3 months' reserves. The reserves at the year end are within this target.
Page 3
## **PCC Chilwell**
## **Trustees' Report (continued)**
## **Structure, governance and management**
## _**Nature of governing document**_
The Charity is controlled by the Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules, and constitutes an unincorporated charity.
Trustees are ex officio and elected members of the Parochial Church Council (“PCC”).
## _**Organisational structure**_
New elected members are appointed at each Annual General Meeting for a term of three years, and in-line with the size of our Electoral Roll, up to 15 elected members can be appointed. Each year, at least the number nearest to one-third of the elected places (i.e. 5) must be relinquished each year for re-election, with the earliest members standing down as necessary.
St Barnabas has some attributes of a conventional “district” (whereby pastoral oversight is split within the parish). St Barnabas has a part-time self supporting minister as well as being served by the Incumbent and other ministers within the Parish. St Barnabas has a church council, the members of which are elected at an annual meeting, and members of the PCC attend meetings. Members of St Barnabas are active PCC members as there is a parish electoral roll. Finances are managed across the parish, with funds separated for St Barnabas, and combined on the Charity Accounts.
## _**Major risks and management of those risks**_
All individual giving is voluntary and cannot be relied on indefinitely. We review regular giving quarterly and annually. Rising energy costs provide a risk for the future to for the charity.
Page 4
## **PCC Chilwell**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Rev Andy Tufnell Trustee
Page 5
## **PCC Chilwell**
## **Independent Examiner's Report to the trustees of PCC Chilwell**
## **Independent examiner’s report to the trustees of PCC Chilwell**
I report to the trustees on my examination of the accounts of PCC Chilwell (the Charity) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the trustees of the charity 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 Charity’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 Act.
## **Independent examiner’s statement**
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member and Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 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 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.
......................................
John O’Brien MSc, FAIA, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners
Unit 1&2 Northwest 41 Talbot Street Nottingham NG1 5GL
Date:.............................
Page 6
## **PCC Chilwell**
## **Statement of Financial Activities for the Year Ended 31 December 2023**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total Income
**Expenditure on:**
Charitable activities
6
Total Expenditure
Net income
Gross transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15|**Unrestricted**
**£**
520,320
6,209
23,017
509
550,055
(371,988)
(371,988)
178,067
291
178,358
751,639
929,997|**Restricted**
**£**
-
79,756
-
-
79,756
(62,566)
(62,566)
17,190
(291)
16,899
5,333
22,232|**Total**
**2023**
**£**
520,320
85,965
23,017
509
629,811
(434,554)
(434,554)
195,257
-
195,257
756,972
952,229|**Total**
**2022**
**£**
415,280
45,235
24,209
29|
|---|---|---|---|---|
|||||484,753|
|||||(322,231)|
|||||(322,231)|
|||||162,522
-|
|||||162,522
594,450|
|||||756,972|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 15.
The notes on pages 10 to 20 form an integral part of these financial statements. Page 7
## **PCC Chilwell**
## **Statement of Financial Activities for the Year Ended 31 December 2023 (continued)**
**These are the figures for the previous accounting period and are included for comparative purposes**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total Income
**Expenditure on:**
Charitable activities
6
Total Expenditure
Net income
Gross transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15|**Unrestricted**
**£**
415,280
3,920
24,209
29
443,438
(281,421)
(281,421)
162,017
(1,069)
160,948
590,691
751,639|**Restricted**
**£**
-
41,315
-
-
41,315
(40,810)
(40,810)
505
1,069
1,574
3,759
5,333|**Total**
**2022**
**£**
415,280
45,235
24,209
29|
|---|---|---|---|
||||484,753|
||||(322,231)|
||||(322,231)|
||||162,522
-|
||||162,522
594,450|
||||756,972|
The notes on pages 10 to 20 form an integral part of these financial statements. Page 8
## **PCC Chilwell**
## **(Registration number: 1134214) Balance Sheet as at 31 December 2023**
|**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
12
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted**
**Unrestricted income funds**
Unrestricted
**Total funds**
15|**2023**
**£**
470,685
35,825
457,028
492,853
(11,309)
481,544
952,229
22,232
929,997
952,229|**2022**
**£**
470,685
28,412
262,596|
|---|---|---|
|||291,008
(4,721)|
|||286,287|
|||756,972|
|||5,333
751,639|
|||756,972|
The financial statements on pages 7 to 20 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr Will Ottewell Trustee
The notes on pages 10 to 20 form an integral part of these financial statements. Page 9
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
PCC Chilwell meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Exemption from preparing a cash flow statement**
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
## **Going concern**
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Changes in accounting policy**
The fixed assets of land and buildings policy has changed from the insured value to the earliest available record for valuation on the balance sheet.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Page 10
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregates similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant provisions**_
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Christ Church Church Hall is included in the Balance Sheet as a Fixed Asset. No provision is made for depreciation. The value ascribed to the Church Hall is the earliest available record value of £470,684.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 11
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the Charity.
Designated funds are unrestricted funds and resources set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined benefit pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Legacies
Gift aid reclaimed
Grants, including capital grants;
Government grants|**Unrestricted**
**funds**
**General**
**£**
260,271
198,465
54,593
6,991
520,320|**Total**
**2023**
**£**
260,271
198,465
54,593
6,991
520,320|**Total**
**2022**
**£**
221,715
150,000
43,062
503|
|---|---|---|---|
||||415,280|
Page 12
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **3 Income from charitable activities**
|**Unrestricted**
**funds**
**General**
**£**
PCC fees
2,384
Sundry
3,294
Grants and donations
-
Fundraising
531
6,209
**4**
**Income from other trading activities**
Property rental income
**5**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits|**Restricted**
**funds**
**£**
-
4,355
75,401
-
79,756
**Unrestricted**
**funds**
**General**
**£**
23,017
23,017
**Unrestricted**
**funds**
**General**
**£**
509|**Total**
**2023**
**£**
2,384
7,649
75,401
531
85,965
**Total**
**funds**
**£**
23,017
23,017
**Total**
**2023**
**£**
509|**Total**
**2022**
**£**
2,110
1,810
-
-|
|---|---|---|---|
||||3,920|
||||**Total**
**2022**
**£**
24,209|
||||24,209|
||||**Total**
**2022**
**£**
29|
Page 13
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **6 Expenditure on charitable activities**
|Outward giving
Parish share
Ministry
Recruitment
Staff costs
Expenses
Running costs
Utilities
Major works
Hall costs
Placements|**Unrestricted**
**funds**
**General**
**£**
28,331
144,204
11,471
66
59,467
13,282
49,092
14,053
43,003
9,019
-
371,988|**Restricted**
**funds**
**£**
-
-
6,046
-
46,209
-
4,870
-
5,441
-
-
62,566|**Total**
**2023**
**£**
28,331
144,204
17,517
66
105,676
13,282
53,962
14,053
48,444
9,019
-
434,554|**Total**
**2022**
**£**
35,627
144,204
14,424
-
78,279
5,770
25,880
6,970
-
4,243
6,834|
|---|---|---|---|---|
|||||322,231|
## **7 Staff costs**
The aggregate payroll costs were as follows:
|The aggregate payroll costs were as follows:|||
|---|---|---|
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2023**
**£**
102,421
173
3,082
105,676|**2022**
**£**
75,021
1,125
2,133|
|||78,279|
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
|Average number of people employed.|**2023**
**No**
7|**2022**
**No**
5|
|---|---|---|
5 (2022 - 4) of the above employees participated in the Defined Benefit Pension Schemes.
Contributions to the employee pension schemes for the year totalled £3,082 (2022 - £2,133).
Page 14
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
No employee received emoluments of more than £60,000 during the year
## **8 Independent examiner's fees**
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
|Accounting Plus are analysed as follows:|||
|---|---|---|
|Independent examination|**2023**
**£**
835
835|**2022**
**£**
795|
|||795|
## **9 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **10 Tangible fixed assets**
|**10 Tangible fixed assets**|||
|---|---|---|
|**Cost**
At 1 January 2023
At 31 December 2023
**Depreciation**
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Land and**
**buildings**
**£**
470,685
470,685
-
470,685
470,685|**Total**
**£**
470,685|
|||470,685
-|
|||470,685|
|||470,685|
Included within the net book value of land and buildings above is £470,685 (2022 - £470,685) in respect of freehold land and buildings and £Nil (2022 - £Nil) in respect of leaseholds.
## **11 Debtors**
|Trade debtors
Other debtors|**2023**
**£**
35,825
-
35,825|**2022**
**£**
18,107
10,305|
|---|---|---|
|||28,412|
Page 15
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **12 Creditors: amounts falling due within one year**
|**12 Creditors: amounts falling due within one year**|||
|---|---|---|
|Trade creditors
Other taxation and social security
Other creditors|**2023**
**£**
6,915
577
3,817
11,309|**2022**
**£**
-
753
3,968|
|||4,721|
## **13 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses from the charity during the year.
## **14 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
470,685
-
59,663
410,958
(11,309)
-
519,039
410,958
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
470,685
-
65,937
219,738
(4,721)
-
531,901
219,738|**Restricted**
**funds**
**£**
-
22,232
-
22,232
**Restricted**
**funds**
**£**
-
5,333
-
5,333|**Total funds at**
**31 December**
**2023**
**£**
470,685
492,853
(11,309)|
|---|---|---|---|
||||952,229|
||||**Total funds at**
**31 December**
**2022**
**£**
470,685
291,008
(4,721)|
||||756,972|
Page 16
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **15 Funds**
|**Unrestricted funds**
**_General_**
Christ Church
Christ Church: Capital Fund
**_Designated_**
Christ Church: Resourses
Fund
St Barnabas: PCC Vision
Fund
Ceiling Fund
St Barnabas: DCC Fund
St Barnabas: Coffee Fund
Christ Church: Outward
Giving
Christ Church Support Fund
Christ Church Flower fund
Legacies
**Total unrestricted funds**
**Restricted funds**
Stratigic Development Fund
Christ Church: Men's Group
Internship
St Barnabas: Kids & Barnies
St Barnabas: Kitchen Fund
Christ Church Gifts
St Barnabas: Gifts
Community Project
**Total restricted funds**
**Total funds**|**Balance at 1**
**January**
**2023**
**£**
61,217
470,684
531,901
30,000
25,984
-
10,884
54
1,451
1,042
323
150,000
219,738
751,639
-
107
-
432
291
343
235
3,925
5,333
756,972|**Incoming**
**resources**
**£**
289,408
-
289,408
-
-
30,573
31,079
-
530
-
-
198,465
260,647
550,055
59,698
-
1,600
-
-
256
420
17,782
79,756
629,811|**Resources**
**expended**
**£**
(278,270)
-
(278,270)
(2,500)
-
(35,725)
(31,172)
-
(24,045)
(276)
-
-
(93,718)
(371,988)
(55,161)
-
-
-
-
-
-
(7,405)
(62,566)
(434,554)|**Transfers**
**£**
(24,000)
-
(24,000)
-
-
5,152
(4,807)
(54)
24,000
-
-
-
24,291
291
-
-
-
-
(291)
-
-
-
(291)
-|**Balance at**
**31**
**December**
**2023**
**£**
48,355
470,684|
|---|---|---|---|---|---|
||||||519,039|
||||||27,500
25,984
-
5,984
-
1,936
766
323
348,465|
||||||410,958|
||||||929,997|
||||||4,537
107
1,600
432
-
599
655
14,302|
||||||22,232|
||||||952,229|
Page 17
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
The specific purposes for which the funds are to be applied are as follows:
Christ Church Resources Fund (designated) - allocated by PCC to partially finance future strategic initiatives. Outward Giving (designated) - allocated by PCC from ending of an outward giving commitment for future spending and one off giving Flowers (designated) - allocated to money donated and used for flower arrangements Mens Group Fund (restricted) - monies received and payments made by the monthly Mens Group meetings Support Fund (designated) - allocated from a general gift to provide support fund to vulnerable within the community Community Project Fund (restricted) - grant and gift funded to provide community outreach to vulnerable families within the parish
Strategic Development Fund (restricted) - grant funded staffing costs Gift fund (restricted) - for various gift funded, specific fund raising efforts to charity partners Legacies (restricted) - restricted legacy St Barnabas PCC Vison Fund - allocated by PCC to partially finance future strategic initiatives. Building Fund (designated) - money held by the DCC for specific building works. DCC Fund (designated) - this is the St Barnabas general income and expenditure in year, and counted as designated for the purpose of the consolidated accounts.
Coffee Fund - (designated) - money received by the DCC from refreshments provided on Sundays; to be spent on supplies as required. allocated by PCC to partially finance future strategic initiatives. Kids & Barnies Fund (restricted) - monies held for use on "Barnies" children's club, plus a £100 donation to enable the purchase of chidrens bibles. Ceiling Fund - replacement of the ceiling, insulating and other works Food Bank Fund (restricted) - restricted receipts to fund food bank at St Barnabas Kitchen Fund (restricted) - restricted receipts to partially finance fabric and furniture costs. Lottery Grant (restricted) - restricted fund received to support wider community project
The transfer from the Kitchen fund to the General fund reflects the release of any restrictions on the use of these funds.
Page 18
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
## **16 Pension and other schemes**
Defined benefit pension schemes
EMPLOYER participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.
CWPF has two sections:
1. the Defined Benefits Scheme
2. the Pension Builder Scheme, which has two subsections;
a. a deferred annuity section known as Pension Builder Classic, and,
b. a cash balance section known as Pension Builder 2014.
## Pension Builder Scheme
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2023: £3082, 2022: £2133).
Page 19
## **PCC Chilwell**
## **Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)**
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019.
For the Pension Builder Classic section, the 2019 valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2024, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 5% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2023. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the 2019 valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
The next valuation is due as at 31 December 2022. Calculations for this should be completed by March 2023.
"The information above is provided by the Church of England Pension Board"
The legal structure of the scheme is such that if another employer fails, EMPLOYER could become responsible for paying a share of the failed employer’s pension liabilities.
## **17 Related party transactions**
During the year the charity made the following related party transactions:
## **Laura Ottewell**
(Related to Will Ottewell (Trustee))
Received remuneration in the period of £1,326 (2022: nil). At the balance sheet date the amount due to/from Laura Ottewell was £Nil (2022 - £Nil).
Page 20