## **TREASURER’S REPORT TO THE APGM YEAR TO 31 DECEMBER 2022** The Accounts show that we managed to make a surplus of £2,655 in respect of the unrestricted (or the general) funds of the Church and excluding the unrealised gain in the value of the investments, This was because the PCC only made a token contribution to the Diocesan Fund for other parishes as the ministry share reduced to £65,755 from nearly £92,885 in 2020. PCC agreed to transfer £5,000 to the fabric fund. Turning to the Accounts and starting at page 17 which gives details of the items of income and expenditure: - a) The total money received under planned giving (that is the money paid by standing order or under the Parish Giving Scheme) has risen slightly from the previous year of £61,191 to £63,288. The move to use the Parish Giving Scheme helps to reduce the administration time dealing with the monthly receipts and to automatically recover the gift aid on a monthly basis without having to do the work ourselves. - b) The grants and donations in the main relate to monies received for specific purposes. - c) We also bebefited from being able to hold an Autumn Fair this year. Whilst the accounts appear to show a healthy position but they do not account for potential substantial quotations for works to the buildings to carry out basic repairs, particularly from th Quinquennial review and the PCC is prioritising the works with the funds available. If you have any questions on the accounts, please ask me or e-mail your question to Richard.hemmings211@btinternet.com Richard Hemmings Charity registration numb8r.' 1137099 The Parochial Church Council of the Ecclesiastical Parish of St Stephen's, Barbourne Annual Report and Financlal Sla18menl8 for the Year Ended 31 December 2022 The Parochial Church Council of the Ecclesiastical Parish of St stephen's, Barbourne Contents Rafarence and Administrative Delalls Trustees, Report Statement of Trusl6es' Responsibilities Indopend&nt Examinerfs Report Statement of Finandal A¢livlllÈs 5106 Balance Sheet Notes to the Flnanclal Statements 810 18 The Parochial Church Council of the Ecclesiastical Parish of St stephen's, Barbourne Reference and Administrative Details Trustees R6v A G Todd Mr M Bunn Mr R Hemmings Mr P Kennelt Mrs B Thorp Mrs M Mandrell Mrs D Fulbrook Mrs C Amos MrNSWake Mrs R J Scolson Mrs S Gelhing Mr D Anwyl-Hughe8 Mrs L Niccolls Mr K Mallby clo Mr R Hemmlngs 25 Whinfield Road Worcester WR3 7HF Prlnclpal Offlce Charity Reglstratlon Number 1137099 Indepèndent Examiner M A Sk8llum FCA Ballards LLP 11c Kingswood Road Hampton Lovelt Droitwich Worcestershire WR9 OQH Page 1 The Parochial Church Councll of the Ecclesiastical Parish of St Stephen's, Barbourne Trustees. Report Th8 trustees pr8senl the annual repori logelher with the financial slalemenls of tho charily for the yèar ended 31 December 2022. Obleetlves and actlvltles Objects and aims ThB primary objective of Ihe charity is the promollon the èccleslastlcal parish of the whole mission of the church. Publlc benelit The trustees confirm that they have complièd wllh the requirements of section 4 of tho Charities Act 2011 to have due regard to Ihe public benefit guidance published by the Charity Commisslon for England and Wal8s by carrylng out Its normal activities. Reference and Administratlva Detalls Members of the PCC Members of the PCC, who are also trustees, are either ex offi¢lo or elected at tha Annual Parochlal Church Meeting IAPCMI In accordance with the Church Represenlalior) Rule8. Impact of COVID-19 In common with m8ny Churches, the Impact of the Covld-19 pandemic on the activities and financial position of Sl S18ph8n's has been significant. The necessity either lo close the Church buildings, or to restrict th8 attendancé, has substantially reduced th8 Income from leltings. weekly collections and fundraising in particular. This has not affected th8 Truste68' assessmenl that tho Church remains a going concern, but the longer-lerm impact of th8 pandemic remains to be seen. Structure, governance and managttmént Nature of governing document The ¢harily is controlled by Its governing documents, trusts distilled from the United Reform Church Arts of Parliament11971 and 19821 and the Scheme of Union {1972). Day lo day management of the charity Is carrl8d out by the rnembers of the PCC, all of whom arg also trustees. The annual report was approved by the Iruslees of the Gharlty on behalf by.. and slgned on 118 Mr R Hemmings Trustee P2ga 2 The Parochial Church Council of Ihe Ecclesiastical Parish of St Stephen's, Barbourne statement of Trustees, Responsibilities The Irusl&eg are rasponsSble for prepadng thè trustees, report and the financial statements in accordance with the Unlled Klngdom Accounting Standards (United Kingdom Generally Accapled Accounting Practice) and applicable law and regulations. The law appllcable to charllles requlres the Iru81868 lo prepare financial slalemenls for each financtal year whlch give a true arbd fair Mew of the slate of affairs of the charity arld of the incoming resources and application of resources of the charity for Ihat period. In preparing Ihese finaiicial slalemenls, tho Iruslees are required to.. select sultable 8ccounting po15cles and then apply them consÉslènlly,' obs8rve the methods and principles in the Charilies SORP., make judgemenls and eslimales Ihal are reasonable and prudent., slate whether applicable accounting standards have been followed. subject lo any material departures disclosed and explained in the financial slalomenls,. and prepare Ihe financial statements on the going concern basls unless il is inappropriate lo prosum8 that the charity will continuè in business. Th8 Iruslees are responsible for keeping proper accounllng records that dlsclose wllh reasonable accuracy al any lime the financial position of the charity and enable them lo ensure Ihal the financial statements comply with the Charilies Act 2011. the Ch8rilies (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Iruslees aro also responslble for safeguardSng the assets of the charity and han￿ for taking reasonable steps for the prevenllon 2nd delee16on of fraud and olhor IrregulawillÉs. 'L'L Approved by the trustees of the charlly on and signed on ils behalf by.. Mr R Hemmlngs Trustee Page 3 The Parochial Church Council of the Ecclesiastical Parish of St Stephen's, Barbourne Independent Examiner's Report to the trustees of St stephens PCC Barbourne I report lo th8 Iruslees on my examination of Ihe accounts of Sl Stephens PCC Barbourne for the year ended 31 December 2022. Responslbllltles and basls of report As the oharily trustees of Sl Stephens PCC Barbourn6 you are responsible for the pr6paralion of the accounts in acoordance with the requlremenls of the Charities Act 2011 ('Ihe Act'l. I report in respocl of my oxaminalion of the Sl Stephens PCC Barbourne'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)Ibl of the Acl. Indepèndent examlnar's statèment I have completed my examinatlon. I confimi that no material matters hav8 come to my attention In connection wlh the èxamination giving me caus8 lo belleve that In any malerSal respect.. accwnling records were not kept in resp&ct of Sl Stephens PCC Barbourne as required by section 130 of tho Acl. or 2. the accounts do not accord with those records,. or 3. tho aecounls do not comply wllh the accounllng requlremenls concerning the form and conlenl of 2ecounls sel out In the Charities (Accounts and Reports) Regulations 2008 other than any requlremenl that the accounts glve a 'lrue and fair vlew, whlch is not a maller considerod as part of an indepgrldent examination. I h8v8 no concerns and have come across no other m811ers In connecllon wlh the examination lo whlch 8llenlion should b8 drawn in this report In order lo enable a proper understanding of the accounts lo be raached. M A Skellum FCA Ballards LLP 11¢ King8wood Rtsad Hampton Lovett Droitwich wor￿stershIre WR9 OQH 2210312023 Date.. Page 4 The Parochlal Church Council of the Ecclesiastical Parlsh of St Stephen's, Barbourne statement of Financial Activities for the Year Ended 31 December 2022 Total 2022 Unrestrlcted R68tricted Endowment Note Income and Endowments from: Donations and legaclos Charllable activities Other trading acllvltios Inveslmenl incomo Other income 96,787 28.398 5,649 622 130 18,347 115,134 28,398 5,649 671 130 49 Total Income 131.586 18,347 4g 149,982 Expenditure on., Raising funds Charitable aGliwlies {837) 123,094 1837) 133,281 110,187) Total Exp8nditLFre Gainsllosses or) investment assets 123,931 110,187 134,118 1,739 246 1,493 Nel IncomÈl(axpenditure) Gross transfers b8tsvg8n funds 9,394 8,160 {197) 17,357 5,251 5,300 49 Net movement In funds 4,143 13,460 {246 17,357 Reconcillatlon of funds Total funds brought fO￿ard 39,818 60,674 1,908 102,400 119,757 Total funds carried fotward 12 43,961 74,134 1.662 The notes on pages 8 10 18 f￿M an Integral part of Ihase financial slalem8nls. Page 5 The Parochial Church Council of the Ecclesiastical Parish of St Stephen's, Barbourne statement of Financial Activities for the Year Ended 31 December 2022 {contlnued) Total 2021 Unrostricted Rèstrlcted Endowmanl Note Incom8 and Endowments from: D￿ationS and legacies Gharitable aclivlll8s Other Irading activities Inveslmenl Income 87,940 18,259 54 466 13,518 101,458 18,259 54 517 51 Total Inoome 106,719 13,518 51 120,288 Expendlture on., Raising funds Charitable activities {201 {100,500 120) 1103,972 3,472} 3,472) Total Expendllure Gainsllosseg on investment assels 100,520 103.992 3,009 29 3,038 N81 income Grosg ltsnsfers batween funds 9,208 10.046 80 19,334 6,249 51 Net movamonl In funds 2,g59 16.346 29 19,334 Reconclliation of funds Total funds brought forward 36,859 39,818 44,328 1,879 83,066 Total funds carrled foNard 12 60,674 1,908 102,400 All of the charlty's activities derive fn)m conllnulng operations during the abovè two perk)ds. The fu￿dS breakdown lor 2021 is shown In note 12. The notes on pages 8 10 18 fortn an integral part of thes8 flnanclal slal6m6nls. Page 6 The Parochial Church Council of the Ecclesiastical Parish of St Stephen's, Barbourne (Registration number: 1137099) Balance Sheet as at 31 December 2022 2022 2021 Note Fixed assets Investments 19,357 17,864 Current assets Debtors Cash at bank and in hand 10 11,017 123,160 134,177 8,992 109,089 118,081 33,545 Credilors., Amounts falllng due wlthln one year Net current assets 33,777 100,400 119,757 84,536 102,400 Net assets Funds ofthe charlty: Endowment funds 1,661 1,908 Restricted funds 74,135 60,674 Unr6slricled funds 43,961 39,818 Total funds 12 119,757 102,400 The fin ncial slatemonts on page8 5 to 18 were approved by the trustees, and aulhorlsed for Issue on and sSgned on thelr behalf by. Ir R Hemmlngs Trustee The notes on pages 8 10 18 form an integral patl of thes8 financial sta16m8nts. Page 7 The Parochial Church Council of the Ecclesiastical Parish of St stephen's, Barbourne Notes to the Flnanclal Statements for the Year Ended 31 December 2022 1 Accountlng pollcles Statement of compliance The financial statements have been pr8pared In accordance with Accounting and Reporting by Charities.. St81em6nt of Recommended Praclice 8ppllcable to charilles preparlng Ih6ir accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 2015) - ICharilie8 SORP {FRS 10211, the Finarbcial Reporting Standard applicable in the UK and Republlc of Ireland {FRS 102) and the Ch8rities Act 2011. The flnanclal slalemenls have been prepared to glve a "true and fall, view and have departed from the Charities {Accounls and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fair, view. This departure has involved following Accounting and Reporting by Chafilies preparing their accounts in accordance with tha Flnancial Reporting Standard applicAble in the UK arKI RepubllG of Ireland IFRS 1021 issued on 6 July 2014 rather than the AcGounling and Reporting by Charilles.. Slalemenl of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Basls of preparatlon st stephens PCC Barbourne meets Ihe delinllion of a public ben8fit entity under FRS 102. Th accounts (financial slalemenls) have been prepared under the historical cost convention with items recognised al cost or transaction value unless olhonmise slated in the relevant note{sl lo these accounts. Exemptlon from preparlng a cash flow statement The charity opted lo early adopt Bullelln 1 published on 2 February 2016 and have th8rafore not included a Gash flow statement In Ihese flnandal sl8tements. Going Concern The trustees conslder that therg are no material uncertaintles about the charit5ls ability lo continuo as a going conc8rn. Income and endowments Voluntary Income including donallons, glfts, legacies 8nd grants Ih8t provide cora fundlng or are of a general nature is re¢ognisèd when the charity has entillemenl to the income. 11 is probable that the Income will be received and the amount can be measured with sufflclent reliability. Donallons and legacies Donations and legacies are recognised on a receivable basis when receipt Is probable alld the amount can be reliably measured. Grants recelvable Grants are recognlsed when the charlty has an enlltlemonl lo the fund8 and any condliions Ilnked lo th8 grants have been met. Where perfomiance conditions are allad)ed to the grant and are yel to be met, Ihe income is recognls&d 88 8 ￿abIlItY and Included on th8 balance shoel as deferred Income lo be releas8d. Page 8 The Parochial Church Council of the Ecclesiastlcal Parish of St stephen's, Barbourne Notes to the Flnancial Statements for the Year Ended 31 December 2022 (continued) Expendlture All expenditure Is rec(wnlsed once there Is a legal or conslruclive obligation lo that expendllure, 11 is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly atlribuled lo particular headings they have been allocated on a basis consislenl with the use of resources, with central staff costs allocated on the basis of lime 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. Ralslng funds These are costs incurred in allracling voluntary income, the management of investments and thos8 incurred Iradlng aclivllies that raise funds. Charltable actlvltles Charitable expenditure comprises those c081s incurred by Ihe charity in the delivery of its aclivilie8 and seNices for ils beE)eficiaries. 11 includes both costs that can be allocated directly lo such aclivilies and those costs of an indirect natur& necessary lo support them. Governance costs These Include tha costs atlribulable to the charitys compliance with conslllulional and slatulory requir8m6nls. Including audit, strategic managemènl and Irugtees me&llngs and relmbursed expenses. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or re￿1Vable. Grants are Classified as relating either lo revenue or lo assets. Grants relating lo revenue are recognised in income over the period in which the related costs are recognlsed. Grants relaling lo assets aro recognised over the expocled useful life of the as88t. Where part of a grant rel8llng to ar) a5S6t is d6ferred,11 is recognised as deferred Income. Taxatlon The charity is considered to pass the lesls set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporalion lax purposes. Accordingly, the charlty is potentially exempl from laxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of Ihe Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl Ihal suoh income OT gains ar8 applied exdusively lo charitable purposes. Tanglble fixed assets Indlvldual fixed assets are initially recorded at CO81, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Page 9 The Parochial Church Council of the Ecclesiastical Parish of St stephen's, Barbourne Notes to the Flnanclal Statements for the Year Ended 31 December 2022 {continued) Depreciation aiid amOr￿sation Depreaalion is provided on tangible fixed assets so as lo write off the cost or valLialion, less any estimated residual value, over Iheir expecled useful economlc life as follows.. Assèt class Furniture and equipment Deproclatlon method and rata 200/0 on cost Fixed asset investments Fixed asset inveslmenls, other than programme related investments, are included al market value al Ihe balance sheet date. Realis6d gains and losses on inve81ments are calculated as the difference betwèen sales proceeds and their matl)nnecllon Wbth the ex&ninalKJn me cau8e lo be￿￿e that In any rnalerial respect: . a(wJnling re(x>rds wete kept in rw of St stepherts PCC Barboume as required by sectlon 130 of the Acl: or 2. Ihe accounts do not aCmTd wth r￿)rds. 3. th6 accounts do not comply vthh ￿ accounting requlrèmènts t>)n¢eming the fomi and content ol gccounls sat out in ts CharllièÈ {Att￿nts and Reports) Reguletions 2008 other than 8ny r6quIr￿n¢nI thai the aC￿￿nIS gve a 'tnJe and falr is a matter CXmSKlered as part of an IndepeThJent examtnaticyj. I have no concerns and Iwe come a(ross no tsthÈr mattws tn connecaKJn 7hith the examination to whl¢h attantion shoutd be draym in this report in oyder to 8nabl8 a woper understarKJing of the accDunls to be reathed. M A Skellum FCA Ballard8 LLP 110 KIngsw￿d Road Hampton Lovett Droitwith Worcestershire WR9 OQH 2210312023 Page 4