Annual Report and Financial Statements of the Parochial Church Council of The Parish of Wednesfield st For the year ended 31 December 2023 Registered Charity Number: 1137018
DIOCESE OF l.jil LICHFIELD The Parochial Church Council of The Parish of Wednesfield st Trustees, Annual Report for the year ended 31 December 2023 Charity re8lStration number.. 1137018 Ob'ectives and Artivities The PCC is committed to serving the local community with God's love and with enablin8 a5 many people as possible to worship at our churches and to become part of our parish community at St Alban's and St Thomas. churches. The PCC maintains an overview of worship throughout the paTish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put falth into practice through prayer and scripture, music, and sacrament. Each of the district churches manages its own objective5 and activities within the terrns of its Mission Action Plan and under the oversight of the PCC. Fuller details of these activities and objectives can be found in the District Church Annual Reports. Public Benefit The trustees of the PCC are aware of the Charity Commission's guldance on public beneflt In The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Charity. The trustees believe that, by promoting the work of the Church of England in The Ecclesiastical Parish of Wednesfield Team it helps to promote the whole mission of the Church Ipastoral, evangelistic, social, and ecumenicall more effectively, within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by: Providing facilities for publlc worship. pastoral care. and spiritual. moral, and intellectual development. both for Its members and for anyone who wishes to benefit from what rhe Church offers,. an Promoting Christian value5 and service by member5 of the Church in and to their communities, to the benefit of individuals and society. Growth is a prlorlty for both churches In the Parish. Achievements and Performancè Durin8 2023, the PCC Working through the DCCS achieved the following.. The contlnuance and development of the worship Ilfe of the churches durlng the vacancy for Team Rector under the ministry of Revd Derek D'souza linterim minister at St Thoma5, Until September 20231, Revd Tom Fish (Team Vicar at St Alban'51 and Licenced Lay Minister Terry Braithwaite, with active involvement from retired cler8y and members of the congregation authorised by the Bishop. The provision of pastoral and spirltual support beyond the congregation. particularly through extensive ministry In baptisms, marri38e5 and funerals, with continued support to bereaved families and individuals through rnemorial services Iboth those run directly by the churche5, as well as in partnership with local funeral directors) and Social activities for those newty alone Continuing to rebuild the life of the churches following the Covid-19 pandemic, with several successful social events and major services as well as regular social and outreach activities. Continued provision for online engagement, including live-streaming of most services at St Thomas's Church Stren8thening links to local primary schools, throu8h provision of regular Collective Worship at St Alban's and St Thoma5'5 School, and occasional worship and class events with other schools. School 5ervice5 a150 started to The continued and operation of the Ashmore Park Foodbank, and the launch of the St Alban's Community Project to make use of the parish-owned land adjacent to St Alban's Church for community purposes. Page 2
Revlew of the Year The Parlsh Profile and Peison Specification for the position of Team Rector were completed and approved in January. 4 rounds of advert15ing in the Church Times took place over the course of the year. but no applications were received. In the autumn we started to raise awareness of the position in social media and the local press, receiving active support from local councillor5 and significant online eneagement. Rev Derek D'sousa's appolntment as Interim Minister at St Thorras, wa5 renewed in February and May, but finally came to an end in September. Revd Derek ha5, however, very kindly continued to provide cover for some services on a voluntary basls. Anticipating Revd Derek's departure. the Bishop of Wolverhampton gave permission for the Lay Reader and two ehurchwardens at St Thomas's to conduct services of Holy Communion by extension, which has allowed the Eucharistic ministry at both churches to continue uninterrupted. In May, the churches marked with Kin¥5 coronation with a live showing at St Alban's, and a packed celebration lunch the following day at the St Thomas's Centre. The Ashmore Park Choir held well-attended concerts at both churches- in June at St Alban's, and December at St Thomas's- under the leadership of its new musical director. Several successful fayres and table-top sales were held by both churches, generating funds and providing engagement with the local eommunitv. In the autumn. the annual Remembrance Servio at St Thomas'5 returned to it5 forrner size, and at St Alban's the local Brownle and Gulde groups held a new and very well-attended Remembrance parade followed by a service in church. Memorial service5 for bereaved families At Christmas, both church schools held packed se¥vices in our respective churches, and three schools took part in an outdoor carol service for the town's lights switch-on event. Following the closing down in Nov 2022 of Ashmore Autos, who for several year5 had rented the land next to St Alban's Church. the PCC approved exploring a plan, known a5 the.st Alban's Community Project" to make the land available as a base for local charities and social enterprises that support the local community. The first of these. Caring Hearts. renovated the former sales office and opened for business as a charity shop in February. In order to provide income while the project Is developed, the PCC in March agreed to rent most of the rest of the site to some car Importers on a short-term contract. The team's ministry continued to be in high demand for funerals acr055 the parish. The majority of these have been at the crernatorium, but we have also had a si8nificant number at Thomas's, and a few at St Alban's. St Thomas's Church was also in demand for weddin85, Wlth 8 taking place there over the course of the year, and St Alban's hosted a Marriage Preparatior5 course on behalf of the Deanery. The numbers of baptisms declined sharply from the post-covid high of 2022. At St Alban's. the focus on prayer and discipleship was expressed In a new weekly prayer gatherln& and running the Christianity Explored course for the first time in the Autumn. A number of significant maintenance and improvemertt projerts t¢)ok place On the St Alban's Church buildin& Includir repainting the ourdoor cross and re-rendering the wall behind it, and starting to light it again at night as a visible sign to the local community of the church's presence. The main front doors, highlighted as in poor repair in two quinquennial reports, were replaced with attractive and better insulated UPVC doors. Following an act of vandalism in the summer, in which the stage curtains were torn down, the DCC agreed to replace them with movable screens, so that the cross and banners bèhind the stage rernain visible throughout the week as a witness to those who come into the building for social and community activities. Futurè Plans At St Thoma5'5, the appointment of a new Rector is a high priority. and critical to shaping the church's vision and strategy for the post-covid era. st Alban's is still in a phase of consolidation and re-focus, following the leadership disruption that took place in 2022. Discipleship and prayer remaln high prioritie5, as well as increasing the number of people involved in ministry of different kinds. Page 3
Flnancial Review PCC of Wednesfield Team Ministr Net Total Assets.. £448,7281£63.662 20221 Deficit.. I£10.0631- Unrestricted Deficit1 £8,881) Restricted deficit l£1,1821 IDeficit1£5,620120221 The land adjacent to St Albans Church has been introduced into the account5 in 2023 so that the Trustees are able to see the full consolidated position for the whole of the year. The value introduced was £121,449. The income and expenditure for the Land 15 split 50150 between St Albans and St Thomas. This will now be revalued on an annual basis using thè Nationwide Index valuation. The Land was valued at EIIO,000 in 2017 consequently 2% per year has been added from 2017 to 2022 resulting in a value of £121,449. This value has been introduced. The revaluation as of 31 December 2023 is £117,992 a reduction of -2.85%. The Freehold house at Duke Street was introduced into the accounts in 2023 so that the Trustees are able to see the full consolidated position for the whole of the year. The value introduced was £238.464 into Duke Street Endowrnent fund. The Income and expenditure for thi5 asset is split 50150 between St Albans and St Thomas. This was purchased in 1994 at a cost of £52,000 and has been revalued using Nationwide House PTice index as at 31 December 2022 for the introduction value. The revaluation a5 Qf 31 December 2023 is £231,676. a reduction of -2.85%. The funds held by the Diocese on behalf of the parish In the Interior Decoration Scheme were Introduced into the accounts in 2023 so that the Trustees are able t9 See the full Consolidated picture of their assets. These funds èrnounted to £6,349. The PCC of Wednesfield Team Ministry decided to use the Bookkeeping Service provided by Lichfield Diocesan Finance for the Parish account and preparation of year end accounts in 2023. Thanks go to Steve and Barry for their continued work keeping St Albans and St Thomas accounts up to date. Albans.. Net Total Assets.. £58,3721£41,677 20221 Deficit/EKcess- IE14,7491 Unrestricted Deficit1£4,4571 Designated deficit1£9,0851 Restricted Deficit l£1,2061 IExcess £8,378 20221 The CCLA investment CB3028032 has been introduced into the accounts in 2023 50 that the Trustees are able to see the full consolidated position for the whole of the year. The value introduced was £28,740 into the restricted Education Fund. This accounts for the increase in the Net Total Assets. It was revalued as of 31 December 2023- £31.443.97. using the staternent Supplied by CCLA. Overall income has increased slightly from £65,547 in 2022 to £65,707 in 2023 with the main increase being Foodbank donations. We have seen reductions in Gift-aided planned giving via the bank 0101 and correspondingly in the tax recoverable on Gift Aid 0601. and also in income from Duke Street, due to higher repai¥ and maintenance costs. All other areas have remained Static. Expenditure also increased from £57,168 in 2022 to £80,456 in 2023 with the rnain contributor being Major repair5 2701 £12,777, together with higher Church Utility Bills 2440 of £5.976. The common fund request has been paid in full again. Foodbank costs increased from £2,502 in 2022 to £8,606 in 2023, reflecting much higher demand and also some costs associated with moving the storeroom to the Comrnunity Project site. Page 4
St Thoma5'. Net Total Assets.. £30,8811£18,158 20221 Excess- £4,566 Unrestricted Excess £4,566 IDeficit- I£10.653120221 The Increase in the net total assets looks like the CCLA deposit account had not been updated for some time. That has now been rectified and the balanee as at 31 December 2023 is now Showing the correct balance. The overall income has increased from £57,972 in 2022 to £66.817 In 2023, due malnly to increased Gift alded givlng via Bank 0101, income from Fayres thai weie not possible in 2022 due tts Covid restTlCtions, and increased fee5 due to a larger number of weddlngs. In common with St Alban's there were redtjctions in Duke Street rental 1032. Expenditure has decreased from £68.625 in 2022 to £62.251 in 2023. The rLlre that stands out is the common fund request 1910 £45,092 in 2022 and £36,718 in 2023. This will be due to a mis post in 2022 of £8.000 so we can assume that the expenditure really remains on par with 2022. 1 wlll of course Investlgate thls anomaly in 2024 to ensure that the flgures are correct within the software. St Thomas Churth Centre- Net Total Assets." £4,5161£4.43120221 Excess- £85 Unrestricted excess1£851 IExcess £1,442 20221 Income and expenditure both show lar8e reduction5 a5 2022 included over £10,000 on major repairs, largely covered by a one-off grant. On the plus side there has been an increase in the Centre lettings from £4.970 2022 to £7,354 2023. which covered the substantial increases in utility bills and other running costs. Parish Office.. Net Total A5sets.' £373,94011£569120221 The land adjacent to St Albans Church has been introduced Into the accounts in 2023 so that the Trustees are able to see the full consolidated posltion for the whole of the year. The value introduced was £121,449. The income and expenditure for the Land is split 50150 between 5t Albans and St Thomas. Thls wlll now be revalued on an annual basis using the Natlonwide Index valuation. The Land was valued at £IIO,000 in 2017 consequently 2% per year has been added from 2017 to 2022 resulting in a valuè of £121,449. This value has been introduced. The revaluation as of 31 December 2023 is £117,992 3 reduction of -2.85%. The Freehold house at Ouke Street was introduced into the a¢¢ounts in 2023 so that the Trustees are able to see the full consolidated position for the whole of the year. The value introduced was £238,464 into Duke Street Endowment fund. The income and expenditure for this asset is split S01SO between St Albans and St Thomas. This was purchased in 1994 at a cost of £52,CK)O and ha5 been revalued using Nationwide House price index as at 31 December 2022 for the introductlon value. The revaluation as of 31 December 2023 Is £231.676, a reductlon of -2.85%. Thi5 accounts for the increase in the Net Total Assets. All of the Income and expendlture Is shown through the Agency accounts. Weddings and Funeral payments are received into the Parish account and disbuTsed monthly to LDBF A5518ned fees, St Albans, St Thomas, Verger, Or8ani5t etc. Reserves Poll It is PCC policy to try to maintain a balance on free re5erve5 (net current assets) which equate5 to at least three months unrestricted payment5. Each church will identify their own figure based on its expenditure. Ideally the reserve will be held in a designated fund on the Statements of Assets and Liabilities. However. for the purposes of this report we have quotèd the target as a whole. Three months unrestrlcted expenditure is equlvalent to £32,4661£35,575 20221. It Is held to smooth out fluctuations in cash flow and to meet emergencies. The balance of the free reserves at the year-end was £38,9731£42,454 20221. This is slightlv higher than the target but unevenly spread among the parts of the charity- much higher reserves at St Thomas's Church and Centre than at St Alban's. Page 5
It is our policy to invest the short-term investment fund balances with the CCLA Church of England Deposit Fund and the remainder in the CCLA Church of England Investment Fund. Investment Polic The charity is granted power to invest in suitable investments under the PCC Powers Measure 1956 and the Trustees Act 20(M). As charity. the Trustees have a duty of care to take such advice as is appropriate before investments are undertaken. This advice is Sought from the Central Board of Finance ICCLAI in London. The charl5 investment policies are based on two key principles'.- Ethical Investment-thi5 includes ensuring that investments are held in cornpanies which have high Standards of corporate governance and act in a responsible way towards stakeholder5. Long-term responsibilities the trustees are aware of their long-term responsibilities in respect of the Restricted and Unrestricted reseNes and as a result follow a prudent approach to investment decision5. Investment policy for Ion8-term funds is aimed primaiiiy at generating a sustainable income, wlth due regard to the need for the preservation of capital value, and the possible need to realise investments to meet operational needs. The charity doe5 not have policy of generating income at excessive or high risk- known as 'purchasin8 income" where hi8h returns are guaranteed at the expense of capital. In summary. the charity has an overall poll¢y to maximise incorne whlle preserving the real value of Its funds. Due to the nature of the charlty. an ethlcal Investment pollcy Is taken Into consideratlon when investments are made.. The charity follow% the Ethical Investment Advi50ry policy as recommended by the Lichfield Diocese which includes the following.. "We aim to invest in companies that.. will develop their business in the interests of shareholders,. dernon5trate responsible employment practices.. are conscientious concerning issues of corporate governance, the environment and human right5.. are sensitive to the community in which they operate." Planned 8ivin8, collections and donations are the main source5 of fund raisin8 along with tax re¢overable. Safe uardln The PCC believe they have fulfilled their duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to House of Bishops. guidance on safeguarding children and vulnerable adults). Re ortin Serious Incidents A Serious Incident is an adverse event, whether actual or alleged, which results in or risks significant harm to the charitV5 beneficiaries, employees, office holders, volunteers or to others who come into contact with the charity through its work, loss of the charlty's money or assets, damage to the charlty's property or harm to the charity's work or reputation. The trustees are n(It aware of any Seriou5 Incidents in the last year Fundralsln Thè PCC takes it fundraising responslbillties seriously and is very grateful to all donors-wheiher regular or occasiona5 for their support of the church and church events. PCC supporters are never taken for granted. The PCC take full responsibility for fundraising and do not Use commercial or8anisations or profe55ional fundraiser5. All money raised is either by donations, fundraising events, special appeals or legacies for which the PCC are most 8rateful. Volunteers The members of the PCC would like to thank all the 110 volunteer5 who work so hard to make our Church a lively and vibrant community. In the context of this report, our especial thanks 80 to our church wardens, who have worked so tirelessly on our behalf and the treasurers who have managed and helped us all to understand the church's accounts and its finance5. Rlsk Mana ement The Church Wardens carry out regular Health and Safety Reviews and regularly inspect prernise5 for potential hazards. We have safeguarding policies in place for child protection and for work with vulnerable adults. including rigorous DB5 checking of staff and Page 6
volunteers. Our insurances are reviewed annually to ensure adequate cover. An informal review of any new risks which may irnpact the work of the Church in the Parish is ongoing. structurè Governante and Mana ement The PCC is a Body Corporate established by the Church of England IPCC Power5 Measure 1956, and the Church Representation Rule5 20061 and 15 a Charity registered with the Charity Commission. The PCC is governed by the Parochial Church Council Powers nd Measure119561 as amended that came into effect on 2 January 1957, and the Church Representation Rules ICRRI120201, and bv the Wednesfield Team Instrument of Governrnent IWTIGI made in 2014. The method of appointment of the PCC members is Set out in the CRR as amended by the Wednesfield Team Instrument of Governance. The Council comprises the Incumbent. the Churchwardens, a representative of the Readers. those elected to the Deanery Synod. and other members v4ho are elected at the Annual Partrchi81 Church Meeting, by those on the Electoral Roll. Members of the conEregation are always urged to join the Electoral Roll, and to stand for electlon to the PCC. The PCC mernbers are responsible for making decisions on all matters of general concern and importance in the parish, and for all financial matters. The PCC meets 34 times a year. Given its responsibilities, the PCC has a number of sub committees, each dealing with a particular aspect of parish life. These include the DCC at St Thomas, the DCC at St Albans, and the St Thomas Centre Management Committee and others as required. Each report5 back to the PCC with the minutes of their rneetings, directly or through DCCS. The following policies are in place.. Safeguarding Health and Safety with accompanyin8 Risk Assessments Expense5 for clergy and ministers Lone working Vicar and Wardens account (This is a fund for those In need In the Parishl Bapt15rn policy General Data Protection Regulation Social Media Parish Fees Policy Related Parties Donations from Related Parti Donations from related parties116 PCC Mernbersl during the year totalled £13,4351£8,85120221. All these donations were received without condition5. Remuneratlon a5d to Trustees One Trustee, S Crosby, is employed by the PCC and has been paid £10,847. The payments attracted social security costs of £242 pension payments of £138 were made. An anonymous donation was made to Lichfield Diocesan Board of Finance to pay this Salary. Neither the income nor the expenditure is shown in the PCC of Wednesfield Team Ministry 2023 accounts. No other trustee has been paid any remuneration or received any other benef from employment with the PCC. enses aid to Trustees One trustee wa5 reimbursed £3961£1,726 20221 for travel and subsistence during the year. Reference and Admlnistrative Details Charity Name.. The Parochial Church Council of The Parish of Wednesfield Other names the charity is known by: NIA Registèrèd Charity Number.. 1137018 Charitvs principal address: The Parish Office St Thomas Church, Church Street Wednesfield WVII ISS Corre5pondente address.. The Parish Office St Thomas Chuich, Church Street Wedne5field WVII ISS Webslte address: www.wednesfieldteam.org.uk. Page 7
PCC Members: Who Served from l January 2023 to the date thi5 report was approved Trustee name Offlce {rf any) Dates acted If not for whole period Ex-offlclo Revd. Tom Fish Tearn Vicai/chairperson Parish WardenlDiocesan Synod Parish WardenlLay Minister District Warden St Thornas Clive Postle Terence 8raithwaite Lucy Smith District Warden St Thomas Until ADCM 14Th May 2023 Barry Bishop Tracy Yate5 District W3rden/DCC TreasureT St Alban District Warden St Alban From ADCM 30 April 2023 Untll ADCM 21" April 2024 Until ADCM 14, May 2023 Chris Hopè Brran Daybell Deanery Synod Deanery Synod Deanery Synod Deanery Synod DCC Secretary St Thomas DCC Secretary St Thomas and Distrirt Warden St Thomas Derek Bennett Until ADCM 30 April 2023 Frorn ADCM 14, May 2023 Until ADCM 14, May 2023 From ADCM 14, May 2023 From ADCM 28, April 2024 Margaret O'Call88han Jan Posile Laurence Fletcher Steve Lawley 8ethanie Craddock DCC Treasurer St Thoma5 DCC Secretary St Alban From ADCM 20, Aprll 2023 Until ADCM 21" April 2024 From ADCM 21" April 2024 Deborah Dale DCC Secretary St Alban Elerted Jenny Hickman Susan Vaughan PCC Secretary st Thomas Frorn ADCM 14, May 2023 From ADCM 14, May 2023 Gwen TurneT St Thomas Edwin Simpson Norma Thompson David Craddock St Thomas St Thomas St Alban Samantha Crosby Rachel Warner St Alban From ADCM 14, May 2023 Resigned Il, July 2023 St Alban Bank Lloyds Bank PLC Church Street, Wednesfield WVII ISS Investment CCLA Manager5 l Angel Lanè London EC4R 3AB Page 8
Independent Examiner jonathan Hill Llchfield Diocesan Board of Finance St Mary5 House, The C105e. Liehfield. WS13 7LD Approved bythe PCC on 2310512024 and si8ned on bts behalf by.. d Tom Fish IActirE Chairl Mr Clive Po y Chairl Page 9
Independent Examinerfs report to the trusteeslmembers of The PCC of The Parish of Wednesfield Registered charity number.. 1137018 I report on the account5 for the year ended 31* Decernber 2023 which are set out on the followlng pages. ibilities of the Trustees and Inde amin The charitV'5 trustees are responsible for the preparation of the accounts. The charity'5 trustees consider that an audit 15 not required for this year under Section 144 of the Charities Act 2011 (the Charitres Act) and that an independen t examination is needed. It is my responsibility to examine the accounts under sectlon 145 of the Charities Act, io follow the procedure5 laid down in the General Directions given by the Charity Commission Iijnder Section 1451Sllbl of the Charitie5 Act, and to state whether particular matters have come to my attention. Basls of Inde endent Examiner's Statemènt My examination was carried out in accordance with the General Directions given by the Charity Cornmission. An examination includes a review of the ac¢ountin8 records kept by thÈ charity and a comparison of the accounts presented with those records. It also include5 consideration of any unusual items or disclosures in the accounts and seeking explanation5 from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a "true and fairf view and the report is limited to those matters Set out in the statement below. Inde endent E mineT'S Statement In connection wyth my examination, no rnaterial matters have come to my attention which gives me cause to believe that in any material respect.. ac¢ountin8 record5 were not kept in accoTdan¢e wlth section 130 of the Charities Act or the accounts do not accord with the with the accounting records I have come acr055 no other matters in connection with the exarnination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: Jonathan Hill FCMA CGMA Lichfield Diocesan Board of Finance st Mary's House, The Close. Lichfield WS13 7LD Date.. Page 10
The Parish of Wednesfield Team Minist Notes to the Financlal Statements For the year ended 31" December 2023 Accounting Policies The Financial statements of the PCC have been prepared in accordance with the Church Accounting Regulation5 2006 using the Receipts and Payments basis. There May be minor discTepancies in the totals as the pence are not being shown. Going Concern There are no material uncertainties relate to events or condltlons that cast significant doubt on the charitvs ability to continue as going concern. Prlor Year Errors No material prior year errors have been identified in the reporting period Description of Funds Unrestrlcted funds are income funds of the PCC that are available for Spending on the general purposes of the PCC, including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in it5 "freé reserves. as disclosed in the trustees. annual report. An explanation of purpose of each Designated fund are as follows Building-st Albans Buildin8 Fund Choir St T- St Thomas Choir fund Flower St T- St Thomas Flower Fund In Bloom St T- St Thomas Wedne5field in Bloom Mernorium St T- St Thomas in Memorium Restricted funds comprise of two elements :_ al income from trusts or endowments which may be expended only on those restricted object5 provided in the terms of the trust or bequest bl donations or grant5 received for a Specific object or invited by the PCC for a speclflc object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of eèch year must be carrled forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, Interest Is apportloned to Indlvldual funds on an average balance basis. An explanation of purpose of each Restricted fund are as follows.. Decoration- IDS decoration Scheme for Wicarage's held with LDBF Eco-Church- Eco-church Improvements Education- St Albans Education Fund Foodbank- For the Ashmore Park Foodbank Orean St T- For the upkeep of St Thornas Organ Fund Page 11
Endowment funds are restricted fund5 that rnUSt be retained as trusl capital either permanently or subject to a dlscretionary power to spend capital as incomè, and where the use of any income or other benefit derived from the capital may be restricted or uniestricted. Full details of all their restrictions are shown in the notes to the accounts. An explanation of purpose of each Endowment fund are as follows.. Duke Street- Freehold house In Duke Street. Land- Land adjacent to St Albans Church Income, and any expenses. from thesè propertie5 15 pr¢xessed in the Parish Account and then divided equally between the two churches. The total Income and expenses for each property were.. Duke Streèt Net rent from letting agency Maintenance Insurance Net Income to PCC 2023 6,066 2,040 346 3.680 2022 6,411 321 6.0 Land Rent from Cornmunity Project Rent from Car dealers Insurance Net Income to PCC 1.800 5,000 180 6,620 6,750 180 6,570 Fixed Assets Consecrated and benefice property is not included irn the accounts by s.1012llal&lCI of the Charitie5 Act 2011. Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the Church's inventory, which can be inspected lat any reasonable timel. For anythin8 acquired prior to 2000 there 15 insufficient cost information available and therefore such assets are not valued In the financial statements. The property in Duke Street is revalued on an annual basis using the Nationwide House price index. The Land adjacent to St Albans Church 15 revalued on an annual basls uslng the Nationwide House price index Imiestments Investments in quoted shares, traded bond5 and similar investments are valued initially at cost and subsequently at markel value at the yeai end. Investments held for re-sale are treated as current asset investments. Page 12
The Parfsh of Wedne5Aieldyeor ending 2023 Recelpts and Payments Account 2023 Unrestricted Designated funds funds Restricted Endowment funds funds Total Prlor year funds total funds Receipts Donations and legacies Income from charitable activitie5 OtheT trading artivities Investments Other income Total receipts 76,298 16,317 21,980 11.625 3,848 130,069 6,963 83,261 16,317 21.980 12,485 7.104 141,148 77,807 15,419 28,143 16,461 2,224 140,054 859 64 7.886 3.192 3,192 Payments Raising funds Expenditure on charitable activities Total payments 518 129,347 129*64 518 150,693 151.211 270 145,404 145,674 12,278 12.278 9,068 9.068 Excess of recelpts over payments before transfer 205 19,0861 11.1821 110,0631 15.6201 Transfers Gross transfers between funds- in Gross transfers between funds out Excess of receipts over payment5 before other gains I losses Revaluation of chariws assets Net M9Ment in funds 11,108 11.108 111,1081 110,0981 111,1081 110.9031 2.022 11.1821 15,6201 7,422 13.4811 245 2,267 37.7911 36.612 349,668 349.668 395,129 385.031 15,6201 All assets at 01 January 2023 42.454 SA20 15.388 63.662 69.282 All assets at 31 December 2023 38,973 8,086 52.000 349.668 448,728 63.662 Represented by Unrestrirted General Fund 38,973 38.973 42.454 Designated St Alban5 Building Fund St Thomas Choir Fund St Thomas Flower Fund St Thomas In Memorium St Thoma5 Wed In Bloom 4,918 198 loo 2,625 245 4,918 198 100 2,625 245 2,897 198 IOD 2.625 Restricted Ashmore Park Pantry Decoration IDS LDBF Ectrchurch Improvements St Albans Education Fund St Thomas Organ Fund 4.539 6.350 900 34.192 6.019 4,539 6,350 900 34,192 6,019 6,094 900 2,375 6,019 Endowment Freehold House In Duke Street Land Adjacent To St Albans Church 231,676 117.992 231,676 117.992 Page 13
The Pfjnsh OA Wednesfieldyeor ending2023 Statement of a55ets and liabllitle5 2023 General Designat Restricted Endowment This year Last year Fixed a$5ets- Investments CCLA ICBFI - St Albans Educational Fund Totals 31,444 31,444 31,444 31,444 Flxed assets- Tanglble assets Freehold House in Duke Street- Land Adjacent to St Albans Church- Totals 231.676 117,992 349.668 231.676 117.992 349,668 Current assets- Cash at bank and in hand Lloyds current account- PCC Account- Lloyds Current- St A- Barclays Current- St A- Centre Barclays current account- Lloyds Current- St Thomas Cash in hand- St Thomas- Lloyds Main - St Thomas- CBF Deposit- St Thomas- CBF Deposit- st A- IDS De¢oraiitsn Ac¢ount 101- IDS Decoration Account 102- 15701 6,706 1,356 8,187 787 16,916 1,304 2,375 20.655 4.431 333 40 4,105 14.135 18,567 2.022 4,517 4.517 22 7,212 13.970 7,116 22 7,703 23,157 10,012 2.573 3,777 69.463 490 6.019 3.168 2.897 2.573 3,777 22,403 Totals 38.973 8,086 65.955 Llabllltles- Agency accounts Agency collections- 1,847 1.847 1,847 1.847 2,294 2.294 Totals Grand ttstal 38,973 8.086 52.000 349.668 448.728 63.662 Statement of assets and liabilities 2022 General Deslgnated Restricted Endowment 2022 2021 Current assets- Cash at bank and in hand Lloyds current account- PCC Account- Barclays Current- St Thomas- Centre Barclay5 current account- Lloyds Current- St A- Barclays Current- St A- Lloyds Current- St Thomas- CBF Dep051t- St A- CBF Deposit- St Thomas - Lloyds Main - St Thomas- Cash in hand- St Thomas- 15701 1.874 1,304 17,844 9,056 2,989 2,364 12,644 333 18,326 22,135 4.431 4,431 2,375 20,655 333 18.567 14,135 4.105 40 65,955 2,375 6,959 13.706 333 15,671 4,948 3,650 40 42.454 2,897 3,168 6,019 455 40 85,733 Totals 5A20 17,681 Page 14
Llabilities- A8ency accounts Agency collections- 2.294 2,294 2,294 2,294 13,822 13,822 Toials Grand totsl 42,454 5.820 15,388 63.662 69,282 Analysi5 of receipts and payments 2023 Total ear Unrestricted Desi nated Restricted Endowment This Last ear INCOME AND ENDOWMENTS Donations and legacies Gift Aid planned giving- via bank Gift Aid- Bank Planned giving- envelope5 Gift Aid- Envelopes Other planned giving Loose plate Collections Donations at TLC & Messy church Donations to Foodbank One-off donations- Churth members One-off donatlons- church members One-off donations- external Tax recoverable on Gift Aid Non-recurrin8 one-off 8rant5 Other funds generated 10,350 14,789 4.525 9.886 5,934 8,233 702 10.350 14,789 4,525 9,886 5.934 8,233 702 6,963 300 11,920 10,677 4,576 9,919 6.810 8,993 720 4,794 6.963 300 4,039 3,393 10,586 4,039 3,393 10,586 520 659 11,292 625 6,300 77,807 3,562 76.298 3,562 83.261 Total 6,963 Income from tharltable actlvltles Pop-in Fayres Fees for weddin8s, funerals, BOA and mern Church hall lettings- objectives 1,399 1.818 10,390 1.399 1,818 10,390 1,514 1,710 8.903 2,710 16,317 2.710 16.317 3.292 15,419 Total other trading activities Fayre5 Community Project Centre LettinES Church hall lettings- fund raising Centre Donations Centre Grant5 Centre Other Income 1,858 1.000 7,354 10,500 1,224 45 1.858 I,(x)o 7,354 10.500 1.224 45 4,971 11,476 1.986 9,701 ID 28,143 Total 21,980 21.980 Page 15
Investments Dividends Bank and buildinE society interest Rent from lands or buildings Car Lot Rental - Rl Auto Ltd Car lot rental Duke St rental B&W Ltd 859 859 1.617 1.350 1.286 2,535 4,713 125 12,485 855 241 1,617 1,350 1,286 2,535 4.713 125 11,625 4,050 4,050 7,265 Total 859 16.461 Oiher Intome Insurance claims Other income 3,192 64 3,256 3,848 7,104 141,148 3,848 3.848 130.069 2.224 2.224 140.054 Total INCOME TOTAL 3.192 3,192 64 7,886 EXPENDITURE Raising funds Costs of fetes & other event5 518 518 518 518 270 270 Totsl Expendlture on charitable artivities Mission Giving and Donations LDBF Comrnon Fund Assistant staff costs Salaries and Wages Salary of parish adminlstrator Vicar's expenses Vicarège eKpenses Vicar'5 telephone Clergy and staff education and training Mission. discipleship and evangelism cos Children, youth and families work C05t5 Discipleship materials and artivitie5 Outreach acrivltles Foodbank costs Pastoral needs Church Running Expènses Church running- insurance Church offite- telephone Organ / piano tuning Church maintenance Church supplies Cleaning Upkeep of services 2,466 73,438 840 1.996 10,064 1,015 280 566 2.466 73.438 840 1,996 10,064 1,015 280 566 1,770 81,812 2.235 5.080 4.456 685 450 528 63 113 113 96 362 486 848 1,124 458 263 458 263 8.582 271 35 2,528 1,104 253 4,413 972 297 2.714 517 1,082 206 8.582 153 4.775 I,ooi 412 4.519 340 924 215 153 4.775 412 4,519 340 924 215 Page 16
AV and music equlprnenr, supplies and lic Upkeep of churchyard Memorial costs Administration Church utility bills Centre Runnrn@- salaries Centre Running- electricity Centre Running- ga5 Centre Running- Maintenance Centre Running- water Centre Running- busine55 rate5 Centre RunninÉ- other expendituie Governan costs examinationlaudit fee Major repairs and improvements to church Centre Major Repairs Other PCC property upkeep 725 725 513 626 792 2.845 10.181 904 1,867 1,811 239 314 641 2,762 285 626 792 2,845 10,181 904 1,867 1,811 239 314 641 2.762 285 393 798 3.118 12.607 799 648 802 58 305 604 1,709 12,278 12,278 10,300 60 145.404 145.674 1,156 129,347 129.864 1,156 150,693 151,210 Total EXPENDITURE TOTAL 12,278 12,278 9,068 9,068 GRAND TOTAL 205 19,0861 11,1821 110.0631 15,6201 Fund movement by type 2023 Openlng Incomlng Outgo5ng Transfers Journals GalnlLoss Closlng Building- St Albans Building F Designated 2,897 2,897 3,192 3,192 12,278 12,278 11,108 11,108 4,918 4,918 Sub-total for Building Choir St T- St Thomas Choir Fund Designated Sub-total for Cholr St T 198 198 198 Decoration- Dècoration IDS LDBF Restricted Sub-total for Decoration 6,350 6.350 6,350 6.350 DukeStreet- Freehold House Endowment Sub-total for Dukestreet 238.464 238,464 16,7881 16,7881 231.676 231,676 Eco-church- Eco-church Restrltted Sub-total for Eco-church 900 900 900 900 Educatlon- St Albans Educatlon Restritted 2.375 2,375 859 859 486 486 28.740 281740 2.704 2.704 34.192 34,192 Sub-total for Education Flower St- St Thomas Flower Fun Oe5ignated sub-total for Flower St 100 i(rf) loo loo Page 17
Foodbank- A5hmore Park Pantry Restricted 6,094 6,094 7,027 7.027 8,582 8,582 4,539 4.539 Sub-total for Foodbank General- General Fund Unrestricted 42,454 42,454 130,069 130.069 129,864 129,864 111,1081 111,1081 7,422 7,422 38,973 38,973 Sub-total for General In Bloom S- St Thomas Wed In Blo Designated Sub-total for In Bloom S 245 245 245 245 Land - Land Adjacent To St Endowment 121,449 121,449 13,4571 13.4571 117,992 117,992 Sub-total for Land Memorium S- St Thomas Designated sultotal for Memorium S 2,625 2.625 2.625 2.625 OrBan St T- St Thomas Organ Fund Restricted Sub-total lor Organ St T 6,019 6.019 6,019 6.019 Grand total 63.662 141,148 151.210 402.670 17,5411 448,728 Funds introduced in 2023 have been included in thejournal column- namely Endowment Land1£121,4491 and Duke St1£238,4641 as well as the restricted funds of St Albans Education Fund investments1£28,7401 and the Interior Decorating Scheme balances 1£6,3501. Fund movement by type 2022 Openin Incoming Outgoin Transfèrs GainlLoss Closing 8uilding- St Albans BuSldlng F Designated 2,897 1897 2,897 2,897 Sub-total for Buildin8 Choir St T- St Thoma5 Cholr Fund Deslgnated 198 198 198 sub.total for Choir St T Eco-church- Eco-churth Improveme Restritted 900 90Q 900 900 Sub-total for Eco-church Educatlon - St Albans Education Restricted 2.364 2,364 854 854 2,375 2,375 Sub-total for Education Flower St- St Thomas Flower Fun Designated loo 100 loo loo Sub-total for Flower 5t Page 18
Foodbank- Ashmore Park Pantry Restricted 3,827 3.827 4,794 4,794 2,502 2.502 6,094 6,094 Sub-totsl for Foodbank General- General Fund Unrestricted 50,105 50,105 134.405 134,405 142.292 142,292 42,454 42.454 Sub-total for Gèneral In Bloom S- St Thomas Wed In Blo Designated 245 245 Sub-total for In Bloom S Memorium S- St Thomas In Memorium Designated 2,625 2,625 2.625 2,625 Sub-total for Memorium S Organ St T- St Thomas Organ Fund Restricted 6.019 6,019 6,019 6.019 sub.total for Orgart St T Grand total 69,282 140,054 145,674 63,662 staff C05t5 2023 2022 Wages & Salaries Social Security Costs Pension Costs Average number of Employees £18,552 £242 f 138 £11,771 Du¥ing the year the PCC employed two admlnlstrators and an Outreach worker. All part-time and not all payments attracted social securlty costs. An anonymous donation was made to LDBF for the salary of one of the employees and paid by LD8F so is not accounted for In the local accounts. The PCC use the National Employment Savings Trust INe5tl via the Diocesan Payroll Scherne, for its pension payments £138. The Church Hall Cleaner 15 self-employed so is paid direct and has a contract. The Cleaner at St Albans is berng paid direct on a self-employed basis and has a contrart. There were no employee benefits to key management personnel in the previous or current year. Trustees. Remuneration & Ex en5es One Trustee is employed by the PCC and has been paid £10,847. The payments attracted Social security costs of £242 and pension payments of £138 were made. An anonymous donation was made to Lichfield Diocesan Board of Finance to pay this salary. NeSther the income nor the expenditure is shown in the PCC of Wednesfleld Team Ministry 2023 accounts. No other trustee has been paid any remuneration or received any other benefit5 from employment with the PCC One trustee was reimbursed £3961£1,726 20221 for travel and subsistence during the year. Page 19
Related Parties No other expense5 were paid to any other PCC member. or persons closely eonnècted to them or related partie5. Donations from related parties durtng the year totalled £13,435 16 PCC Member5. INO figures for 20221. All these donations were recelved wlthout condition. Analysls of Transfer between Funds 2023 Refèrance Deblt Credlt Descrlptlon Fund Fund Type For Quinquennial work- PIV Building Des For Qulnquennial wort- PIV General For tower work Building General For O1nqUennlal work- PIV For Quinquennial work- PIV For towerwotk 1.380 1,36LI Unr 5.000 Des For lower work 5,000 For towerwork Unr For doors For doors 4.150 New Church Doors New Church Doors Building General Des Unr 4,150 For Quinquennial work For Quinquennial work Total 598 Gas heater rernoval Building General Des 598 11,108 Gas heater remowal Unr 11,108 Analysis of Transfer between Funds 2022 There were no transfers between funds FIMed Assets Fixed Assets- Tangible Freehold Buildings Land Total Assets Cost or Valuatlon AsatJJan 121,449 238,464 359,913 Addltlons In the year Revaluation 13.4571 117.992 16,7881 231,676 110.2451 349.668 Value at 31 Det Accumvlated Depretiation Asatljan Charge for the year Disposals Value at 31 De Net Book Value at l Jan 2023 121.449 238,464 359,913 Net Book Value at 31 Dec 2023 117,992 231,676 349.668 Page 20
The land adjacent to St Albans Church has been introduced into the accounts in 2023 $0 that the Trustees are able to see the full consolidated position for the whole of the year. The value introduced was £121.449. The income and expenditure for the Land is split 50150 between St Albans and St Thomas. This will now be revalued on an annual basis using the Nationwide Index valuation. The Land was valued at £llO,000 in 2017 consequently 2% per year has been added from 2017 to 2022 resulting in a value of £121,449. This value has been introdueed. The revaluation as of 31 Decernber 2023 15 £117,992 a reduction of -2.85%. The Freehold house at Duke Street was introduced into the accounts in 2023 so that the Trustees are able to see the full con501idated position for the whole of the year. The value introduced was £238.464 into Duke Street Endowment fund. The income and expenditure for this asset is split 50150 between St Albans and St Thornas. Thi5 was purchased in 1994 at a cost of £52,000 and has been revalued using Natlonwide House price index as at 31 December 2022 for the introduction value 1£238.4641. The revaluation as of 31 December 20231$ £231.676. a reduction of -2.85%. The furhds held by thè Diocese on behalf of the parish in the Interior Decoration Scherne were introduced into the accounts in 2023 so that the Trustees are able to see the fu51 consolidated picture of their assets. These funds amounted to £6,349. The PCC of Wednesfield decided to Use the Bookkeeping service provided by Lichfield Diocesan Finance for the Parish a¢¢ount and preparation of year end accounts in 2023. Fixed Assets- Investments Atllan Additions Disposals Transfers Change in Market Value £ At31 Dec Restricted funds CCLA Investments 28,740 2,704 31,444 Total 28,740 2,704 31.444 CBF Investment Fund CB3028032- St Albans Educational fund £31,4441£0 20221. The investment5 held by the St Albans Educational fund have been introduced into the accounts in 2023 so that thè Trustees are able to see the full consolidated position for the whole of the year. The value introduced, as at I" January 2023, was £28,740. Liabilities due within one ear 2023 2022 LDBF Common Fund Agency Other Creditors Total 2.070 2,294 2,502 2.294 2,070 Debtors 2023 2022 Agencv Total 224 224 Shown in the accounts a5 Agency Liabilities of El,847 as it is the net figure between the creditors and debtors. Poge 21
RÈceipts and Payments Account Comparatives 2022 Unrestritted Restrlcted Endowmènt 2022 Income and endowments from.. Donations and le8acies Income from charitable activitie5 Other trading activities Inve5tment5 Other income Total Income 73,012 15,419 28,142 15,606 2,224 134,405 4,794 77,807 15.419 28.143 16,461 2,224 140.054 854 5.649 ExpenditurÈ on: Raisin8 funds Expenditure on charitable activities Total expenditure 270 142,032 142,302 270 145,404 145,674 3.347 3,372 Net Income I lexpendlturel resources before transfer 17,8861 2,301 15.6201 Net movement in funds 17.8861 2,301 15,6201 Total funds brought forward 56.169 13.111 69,282 Total funds Carried forward 48,274 15.388 63,662 Page 22