Penn Flelds Parochial Church Council (Incorporating St Philllp's. St Aldan's and St Joseph's) Financial Statements Year ended 31 December 2023 (Charlty Number 1134824) Mura$ Baker Jones Limlted Chartered Accountants Wolverhampton
Penn Fields Parochial Church Councll Year ended 31 December 2023 INDEX PAGES ANNUAL REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL AcfiviTfES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 7-14
Penn Fields Paroch5al Church Council ANNUAL RepoRT Year ended 31 December 2023 PCC members who have served from l January 2023 until the date this report Was approved are.. Ineumbent: Revd. P. H. Smith Associate Minister IResident Ministerl.. Revd. l Blunt (From May) Curate.. Revd. N. Smith (From June I Associate Ministers.. Revd. Robert Carter: Revd. G. Hartnell Local Mission Leader.. V. Whlttaker Iuntil Sept) A Beeston (From Sept) Parish Wardens: A Bailey B Blaney (Until Feb.) Assistant Wardens.. Patrlcia Kisby Roy Klsby Rose Brettell Andrew Evans Representatlves on Deanery Synod.. Tlna Woodhouse Andrew Evans Catherine Duke (From May APCMI Vacancy 1x21 Other Elected pcc Members: Margaret Cooke Steve Lee Catherine Duke (Treasurer) Pam Teece Gary Hèrper (From MayAPCMI Ben Evans (From Mèy APCMI Xri5h Birhah Mal Harris Jenny Green Secretary- Co-opted.. L. Braiden
Penn Fields Parochial Church Council ANNUAL REPORT Year ended 31 December 2023 Objectlves and A£tivitle5 Penn Fields Parish Council has the responsibility of co-operating with the Incurnbeni and A5s0ciaie Minister. in promoting the six core values which we collectively hold.. All Involved, Becorning Disciples. Creatin8 Community. Doing Evangelism, Encountering God. and Fearless Generosity- We are contlnuin8 to produce 8ood online content. and have maintained a permanent online presence via Facebook and website5 in solne of the churches. During the year, the parish vision continued to be shared furthef and applied. it is as follow5'.-A Prlority of Prayer and two vlsion filters.. Reaching Wider.. with the compassion of Jesus. Reachin8 Deeper.. into the heart ol God." This is being used to assess our inltiatives and help us work togethef in 3 common directlon. In further way5 we have continued to Itve out Ihi5 V15ion e5pecialty'Reathin8 Wider., further suc(e55ful Alpha courses both online and in person were conducted with a total of about 20 members. The previous encouragements in children'5 and family's ministries have continued. This is particularty 5eeD in the Adventurer5 and Messy aub groups on Wednesday5, for primary aged thild¥en and their lamille5, wlth the two Children's workers facilitatin8 this. Group5 ministering to younger children and familie5 continue to prosper across the parish. wilh a new 8roup'Little Gems, starting up at St. Alden's in the Autumn. Meanwhile God Is workin8 powerfully encouraging falth amongst our young people, throu8h the prayer and encovra8ement of the wider team acros5 the parlsh. Due to ideas from the Parlsh Vision group, the 1rnportan of Evan8eli5rn a5 Part of'Rea¢hing Widerf was retO8nised and two 'Evangelism Hubs, have started facllitated by CPAS, these are lead by Joshua 8lunt and Nick Smith. These wlll we trust teach and Snspire us all into mole effective sharin8 01 our faith. In the Autumn another year long Growin8 Leaders was cornmenced with about 12 member5 from across the churches, The PCC also overs¢es maintenance re5ponslbilrtle5 lor the three churthe5 Within the parlsh, w¢thln whlch day to day maintenance Is delegated to the 3 committees.. The Trustees ol the Charity are aware of the Charity comrnisslon's 8uOdance on public benefit in the advancement of Reli8ion for the Public 8eneflt and have had regard to it In thelr admlnlstration of the Charlty. The Trustees belSeve that, by promotin8 the ¥vovk of the Church of England in the Ecclesiastical Parlsh DI Penn Flelds, it helps to promote the whole mission of the Church Ipa5toral. evan8elistic, social and e¢umenlcall move effectively. within the Ecclesla5ticèl ParSsh. and that in dolng w it provides a benefit to the public by pro¥idin8 facilitle5 lor ptsblic worshlp. pastoral care and spiritual. moral and intelleccual development. both for its members and for anyone who wishes to benefit from what the Church olfers. In addltion, the public is benefitted by the promotion of Christian values and service5 by mernbers of the church in and to their commun4tie5, to the benelit of individuals and Socbety as a whole. Achlev•ments and P*rlorm•n¢e Attendance across the parish has remained largely con5tènt. when it could be measured but due to Covid disruptions maybe with some slight decline5 in numbers at some services. atthough this is diffjcult to measure online. The Electoral roll was updated & revised in April 2021 and stsnds as follows: St Philip's 115 St Aidan's 38 St Joseph'5 114 Total for the Parrsh 267
Penn Flelds Parochlal Church Coyncil ANNUAL REPORT - Continued Year ended 31 December 2023 The lull pcc met four times over the year. Committees lor the Indidual churches with deleKared responsibilitTres met betwee meetings and minutes of their deliberatiot)s and proposals were received by rhe lull PCC and distusseo where necessary. The key dlscu55ions which took place at PCC meetings over the year included the following.. Followrng the par15h LLF lent course in 2022 thèse matters were dlxussed over some time by the PCC and a 'Parish Policy on Hurnarn Sexuality. was adopted at the April meeting. P6rish youth worker IYMEI- Due to widef circumstan5 the worker reslgned from this Post only two years Into 115 three year term in June, since then a process of discernment h35 been tontintsing aboui this post after no success in fillin8 the position in early Autumn. We are consideftng a tWD year full time post aiming to eontlnut the Breat work started in borh church yotsth mSnistry and wider youth outreach across the parish and in ihexhotsls. The 'Evangellsm Hubs. Isee above) facilitated by CPAS were discussed inltiated and 5UPPOrted through PCC consideratlon. Shaping for mlssion was reported on and contributed to by Parish representatives. The par15h Safeguarding policy was reviewed and updatèd at the Ort. meetin8. At all meetlngs new5 and an update on fvnances were given by the warden5 and treasurers from the three Indivklual chtsrche5. The news covered events being held, buildings. thurth servlces, technology. worship and prayer. The PCC Is furthei developing a strategic Vision shaping role and has separated th15 Sertlon of eath meeting from day to dav le8al matters io emphasise thi5 role of the Council, while continvfn8 to dele8ate day to day runnin8 of the mlnistry to the Church committees Flnanclal Revlew All unrestricted lund5 In the indivldual DCC accounts are assumèd to becorne restricted funds in the PCC a88re8ated a¢cotsnts. i.e. restrlcted for the use of the particular DCC. The balance on ihe a88regatèd fund5 at the end of the financial year wa5 £297.173 of which £262,716 relates to a slngle permanent endowment therefore the restthcted fvnd balance wa5 £34,457. It15 our policy to tnvest our fvnds balances with ceF Church of England Oeposit Fund. APPROVED BY THE PAROCHIAL CHURCH COUNCIL ON April 22nd 2024 AND SIGNED ON THEIR 8EHALF BY.. Pp Rev P H Smith (PCC Chairman)
Independent Examiner's Report to the Members of Penn Flelds Parochial Church Council I report on the accounts of the PCC for the year ended 31 Deomber 2023 which are set out on pages 5 to 14. Respectlve responsibllities of members and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 20 1 l Act) and that an Independent examination is needed. The gross income exceeded E250,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. It is my responslbility to.. examine the accounts under section 145 of the 2011 Act,. to follow the procedures laid down In the General Directiolls given by the Charity Commisslon (under section 145(5) (b) of the 2011 Act)- and to state whether partlcular matters have come to my attentlon. Basls of Independent examlner's report My examlnation was carrled out in accordance with the general Dirertions given by the Charlty Commisslon. An examination includes a review of the accounting records kept by the charlty and comparlson of the accounts presented wlth those records. It also includes consideration of any unusual items or dlsclosures in the accounts, and seeking explanations from you as members concernlng any such matters. The predureS undertaken do not provide all the evidence that would be required in an audlt and consequently no oplnion is given a5 to whether the accounts present a "true and fair view" and the report is limited to those rnatte set out In the statement below. Zndepend¢nt examlnerfs report In connection with my examlnatlon, no matter has come to my attention". (i) whlch gives me reasonable cause to belleve that In any material re5pert the requlrements to keep accountlng records in accordance with section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and comply wlth the Accounting quirements of the 2011 Act, have not been met; or to whic In (2) ion, attention should be drawn In order to enable a proper understandlng of reached. Ollv c (Hons) FCA MURAS BAKER JONES LIMITED Chartered Accountants Regent House Bath Avenue Wolverhampton WVI 4EG 26th April 2024
PENN FIELDS PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 Dernber 2023 UnrÈstricted Restrfcted Endov&Treni Total Fund$ 2023 2022 INCOMING RESOURCES Donations and legacies Other voluntary in¢oming resoijrces Other income Iiom operating activities 21a) 165.878 165,878 240.442 21bl 8.537 8,537 35,472 21¢) 19.898 19,898 Income from inveslrnenls 2(dl 79 7.200 7,279 TOTAL INCOMING RESOURCES 194.392 7.200 201.S92 297,658 RESOURCES EXPENDED Grants Activitlès directly relating lo work of the Church 31•1 9.754 9,7S4 7.513 31b) 167,476 14.235 181,711 216.937 Fundraising and publicity Church management and administration 31c} 1,901 2,279 31d) 27.812 27.812 37,345 TOTAL RESOURCES EXPENDED 206.943 14.235 221.178 264,073 NET INCOMING RESOURCES (12.551 17.0351 (19,5861 33,S84 GAINS ON INVESTMENTS Unrealised 16.698 16,698 129.4001 NET MOVEMENT IN FUNDS 112,551) 9.663 12.8881 4.184 BALANCES BROUGHT FORWARD AT 1 JANUARY 2023 47.008 253.053 300.061 295.877 BALANCES CARRIED FORWARD AT 31 0ECEM8ER 2023 34.457 262.716 297.173 300,061
PENN FIELDS PAROCHIAL CHURCH COUNCIL BALANCE SHEET Year ended 31 December 2023 2023 FIXED ASSETS: Note 2022 Tangible assets Investments 227,716 218,053 Debtors Cash at bank and in hand 43.629 84.153 38,499 97.023 127.783 135.522 LIABILITIES.. Arnovnts falling due withln one year NET CURRENT ASSETS 18,325) 13,5141 119.457 132,008 LIABILITIES: Amounts falllng more than one year 9A 150.0001 (50,000) TOTAL ASSETS LESS CURRENT UABILITIES NET ASSETS 297.173 300,061 297,173 300.061 FUNDS Unrestricted Restricted Endowment 34,457 262,716 47,008 253,053 297,173 300.061 Approved by the Parochlal Church Councll at the meeting on 22nd Aprll 2024 And signed on Its behalf by.. Rev. P H Smlth ',PCC Chairman)
PENN FIELDS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Dember 2023 STATEMENT OF ACCOUNTING POLICIES A summary of the principal accountlryJ kK)Ircies adopted Iwhi¢h have been 4>pl ct)nsistenly, except where noledl. iudgements and key source$ ol esb"mated uncertainty, is set oui belcAv. Basss of financial ststements The PCC is a public benefit entrty thin the meaning of FRS 102. The firr4nual stslemenls have been prepared under the Charities Act 2011 and in accordance th the Church Regulations 2006 goveming the individltal a¢¢ounis of PCCS. and wth the Regulatiws'tvue and lair provisions. They have also been prepared in a¢¢ordan¢e wth the Charitse$ SORP {FRS 1W2). Th& financial Statements have been prepared under the hi$torTrcal cost conventKn wth items recognised at Cost or transaction value unless olhewse staled in the rejevanl notelsl lo these accounts. Thè finanaal statements include all transactions. ass&ts and liabilts.es for which the PCC 1$ responwble in law. They do not inclu(l& the accounts of Church groups that owe their affiliattc to an(ther IxJy, rw those that ore informal gatherin98 of church member8. General fund8 represenl th& f(tnds of the PCC that are not subject to Y speci re51n"th"cffls regarding their Ltse and are available lor applicalion lo the geral of I PCC. All unrestricted lunds in the individual DCC accounts afe assurned to become re8tncted funds In the PCC aggr8gated aecounls, i.e. restriete£l lor the use of parb'ojlar DCC. The PCC has a slngle permanenl end¢)wment Cated by a legacy frThn the Will of Mrs Mary Gfain9er. This will provides for Ihg PCC lo invest the eaptlal in Kwpetuity. the trone from which may be used for various wtyk$ within thè churdTr. The accounts include all transaclrons. assets and lbil"&S fty which Ihe PCC is reswnsible in law They do not Include the accounts of other church groups that thth"r main affiliation lo anOtr body. nor those that are inforrnal gathenngs of Church membef5. Goln9 con¢ern There are no material uncertainties rfated lo events or condrtK>n8 that cast 8ignifi¢ant dc4Jbt on the ChaTrty8 abilrty lo continue 88 • going concem. Ch Ilow stat•rnent The Charity has taken thantap ofthe exenytion in FRS102 from the wirwnent to produc¢ a cash flcw slalemenl on the grcwTh1s Ihèt the Ir(18 does not oxceed £500.(O). Fund accountlng Voluntary Incon and capll8lsour¢es Collticlions are recognised when received by or on behl ol the PCC. Planned glving receivable under covenant is rew3nised onty wfien rec*ved. Income tax recoverabte on covanants or g.ft aid dor1)n8 is rectynised irmng 18 recognised. Grants and legacies to the PCC are accounted for as won as the PCC 13 noti of it$ legal enbtlemènt at)d the amount due. Funds raised by fetes and gmilar events are 8nted gross. Sales of books and other goods from Ihe thurch SWI are accourrted for gross.
PENN FIELDS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 STATEMENT OF ACCOUNTING POLICIES - continued Otherordinary in(xThe In¢ome trom the sale of church assets is rergThsed entrflemert is reasona1 certain. In¢ome Irom investments Interest is a¢¢ounteO for when receNable. Tax recoverabte on siKh income is iecognbsed in the same Re8ourc88 expended Grants Grants and donations are #ccounted lty vthen p•d ovw. or wafded, rf that award u•ate$ binding obligab.on on thè PCC. ACtiVrtS directly relating lo the WO th8 Th• dlo¢esan quota oi parish share is account•d for vrtn payatjle. Any qLK)ta unpaid at 31 December 1$ provided for ift these ¥counts a$ an operth.onal (though (t a begall liabilrty ano is shown as a crtsdrtor In Ihe Balance Sheet. Malor building work is accryjnted for when payable. Any uryid rnnts at the ye¥ eThl Ire 51thvn 4$ a creditor in the balance sheet. Flxvd A•t$ Conse¢rnt•d l•ndandbulldlngs •nd mov•bl• chuTch furnlshln Consecrated and benefi¢ed wopwty 1$ excknled frtyn thts COUnts by s.10121{al of th8 Charities Act2011. No value Is placed on movable church fumishlrwJs hekd by the chur¢lMardens $pea"al trust lor Ihe PCC and which require a faculty for disposal Since the PCC considers this to be inalienable propety. All expenditure iUr1ed during the year ¢on5ecrated or ta)efi¢e buisdings and movable d)urch fumishings, whether maintenance or improvement, is as expendrture the SOFA and s8paral•ly di%l08ed. Oth•r fixtur•s, flttlngs •nd offk• equlpm•nt Equipment used wrthin the church yemises 15 dewe on a strawt ne basts over S years. Individual items of equlpment with a wwchase prKe ol less ttwi £500 ar¢ lIten off vknen the aswt is acqul¥ed. Investm•nts All investments are induded at markel value at the end of the curr1 year. Realised gain$ (tr k)&sesl are reeogni5ed when inveslments are sdd. Vnrealised gains lor losses) are accounted for on the revaluation of investmenls at the year end. Currnnt A8••ts and Ll•blliti Currpnt•ss•ts Amounts owin9 to the PCC at th• year end in SpeCt of fees. rents or income are shcNm as debtor$ less provi8M)n for amounts that may prove unciAlethble. Curr•ntiiabiiKMs Amounts riwing by the PCC at the year end in respect of fees and otlw expenditure are shthvn a$ credrtors
PENN FIELDS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEPaENTS Year ended 31 December 2023 INCOMING RESOURCES Unrestricted Restricted Endtswmgnt Funds Fun(h Fund Total Funds 2023 2022 21al Incoming R&sour¢es Irimn (kn Covenants Income lax recoverabkn on ¢ovenants Un¢ovenanted Collections lopen platel at aN services Gift Days Sundry donatn3 Othei 3undry incom Conlias Restricted Income from Oevipment FLmd 120,852 22.179 8.486 120.852 22,179 8,486 2,964 1,956 9.160 19 263 121.033 30.951 3,579 1,283 601 81,699 100 1.196 1.956 9.160 19 263.07 165,878 21bl Other voluntary incoiniiw resources Grants Mi$son8ry Socieiies Hom* Development fund donation Oonalions. appeal$. etc Fetes, bazaars, other fundraising even¢$ 240.442 4.509 26.558 4,000 1.092 2.936 1,092 2,936 1,650 3.264 35,472 21¢) Incoming r&sourc8s from oper8ling aclwty Magazines Café Ring Fenced Proieds Bookst¥ll Church hall lettings etc 9,644 10.254 19. 9.822 10.254 21dl Income Imm inveslmenls Dividend3 and intere$l 14.709 79 7.21YJ 7.278 7.035 7.278 7,035 TOTAL INCOAItNG RESOURCES 194,392 7,200 201.592 297,658
PENN FIELDS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 RESOUCES EXPENDED UnrestriGted Restricted Endowment Funds Funds Fund Total Fund5 2023 Total Funds 2022 311 G13n¢s Missionaiy and chartIal giwijg Church overseas.. Cross Links -M¢ssionary societ Othe¥ Charilies and socièties Ove8$ Overprovisloos wior wr8 4,485 4.863 4.485 4.663 606 4.976 7.513 31bl A¢tiwliès th"Wlly relating to tlje Church Ministry.. -Oioc98aft quota .Clergy Expen8es Chur¢h runnrng èxpen8 Church Maintenanc• Church hall running expanses Legal & PiofessJonal- Quinquenni81 ins 1898 Vicars fees lo dioces• Office equipment repairs FamIlS and Childrèns ¥Yorkers 101.675 3,757 33.830 18.191 101,678 3.757 33,830 16.191 105,913 ,012 1,416 107 1,7 8.81 1,416 107 1,700 303 14.235 14.235 30.647 216,937 181711 31¢) Cosfs olgerterallng funds Fund-r8Iging events 1.901 2,279 3(dl Church managemenl 8rtdadnhnlrnOft Eernal organist fee8 Youth Proj8¢t Wages Priniing. posi•ge and slaiionary Rent Accountan18' fetrB Tea¢hing notwBible8 Misce118neov8 Developmont fund 780 750 12,672 3,129 750 12.672 3,129 21.213 2.735 1.621 3.108 5.752 1,621 3.108 5,752 8219 37 345 TOTAL RESOURCES EXPENDED 2.943 14.235 221.178 264.073 10
PENN FIELDS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 STAFF COSTS 2023 2022 Wages and salaries 35.707 53.480 FIXED ASSETS Fixtures and fittin9S Tangible fixod assets COST Al 1 January 2023 (estimated valuol Addilions 48.782 At 31 December 2023 48,782 DEPRECIATION Al 1 January 2023120% slraighl line) Charge 48,782 Al 31 December 2023 48,782 NET BOOK VALUE Al 31 Decembèr 2023 Al 310ecember 2022 Fixed assets acquired before 1 January 1996 were previously written off lo the In¢ome and Expelldilure account. The gross book value bmught fonvard ab)¥e includes the approximate value of these assets as al 1 January 1996. 11
PENN FIELDS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 INVESTMENTS 2023 2022 Lt¢hfiohl Diocesan Trust Math81 value at 1 January 2022 218.053 245918 Unrealwi gainllbx31 on th¥estrnent 16.698 29.400 Cash Inv88tm¢rbts 7,035 WwhyraI 17.0351 15.5WI Market valu• a131 t)•cemb•r 2023 22T.716 218.053 At4ALYSIS OF NET ASSETS BY FUND Fund Fund Fund Totsl FLXOd ossets Cuff•nl g1s•ts Current Ii¥bilrfies Liabilrt¥ rn0 Ih•n on• •r 227.716 92.783 18.3251 227,711 127,78J 18.3251 .000 297.173 34.457 262.716 DEBTORS 2023 2022 Incory• tpx r•¢o¥er4b Prepaym&nis Qlher D¢btor 3.499 1,330 30.0 43,630 33 499 12
PENN FIELDS PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 LIABILITIES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Accwals Endownment Fund- Salary Baknce Parish Share Other credrtors 140 1,395 8.185 2.119 8.325 3.514 9A. LIABILITIES: AMOUNTS FALLING DUE MORE THAN ONE YEAR 2023 2022 Loan- ¢J¢v•loprnent hjnd Pl4ry Graingw FuThJ 3S,IXrfI 30.0 Loans from mmtrers 15,IX 50.000 8*ance Brought Forward m0Ment in Fwmjs Gain¥ 01.0123 Incomè ExpthlUTe Los48 8atanc• C•ryl•d Foard 31.12.23 Sl Phillp'$ goneral lund Sl Aidan's 98n¢r81 fijnd St Philip's endowment ftjnd Si Philip'5 development fiJTha St Philip's youth projed Sl Philip'$ holiday dub 8usy Bee$ and Mums and Toddkns St Philip's The Hub 49.215 16.430 253.OS3 145.9271 1.499 850 2.021 (99.3251 123.C621 114.2351 20.729 17,111 282,716 142.4201 23.743 7.2OJ 18.698 11.951 (7 3961 18501 17071 11.1951 658 1.973 2,159 278.689 21,372 3CKJ,C61 119.704 1148.7891 174 4091 1221.1771 16.698 286,322 28,851 297.173 St. Jose,$ DCC 81.888 201.592 16.&J8 11. RECONCILIATION OF MOVEMENTS ON AGGREGATED FUNDS 2023 2022 Balance brought forward Excess of incomè over expendrtu Gains and10sses Balance rned forwar 300.061 19.5881 16.698 297.173 2%.877 33 584 29 400 3(Kl.062 13
Balance Brought Fcxwar Movernent Ki Funds 01.01.22 IncMe Expenditurè Balaace Carrted Foard 31.12.22 Gaifis and Losses st Philip's general fund St Mdan's general fund Sl Philip's endowment fund St Philip'5 development fund Sl Philip'5 yoiolh projeci St Philip's hohday club 8usy Bees and Mums and Toddknrs St Philip's The Hub 140.863 20.947 7.035 197.2C61 128 1651 15.$001 111.1931 I20.) 23.648 280.918 143.7161 4.785 49.215 16,430 253,053 145,9271 1,500 850 2.021 1,548 129.4001 17,663 1.761 821 1.113 ISS11 (1,9281 276.167 197.424 1165.5011 198,572 1264,0731 I29.4> SI. J058ph's DCC 278.689 19.110 295.877 I.234 21.372 300.061 297.658 129.4CQ)