Annual Report and Financial Statements of the Parochial Church Council of Lichfield St Michael and St Mary st For the year ended 31 December 2023 Charity registration number." 1139017
The Parochial Church Council of Lichfield St Michael and St Mary st Trustees. Annual Report for the year ended 31 December 2023 Charlty reglstration number." 1139017 Our Vision: (based on the Diocesan Vision Statement) As we follow Christ in the footsteps of St Chad, we pray that the people in our parish encounter a church that is confident in the gospel, knows and loves the community, and is excited to find God already at work in the world. We pray for a church that: reflects the richness and variety of our community and is intentionally inclusive. partners with others, especially St Michael's School, in seeking the common good and working for a more just world. recognises and responds to God's call to be good stewards of creation. offers opportunities for everyone to grow in faith and active discipleship. CONTENTS Administrative Information Structure, Governance and Management Objectives and Activities Public Benefit Safeguarding Statement Achievements and Performance Statutory reports i) 2) 3) Electoral Roll Report PCC Report Churchwardens, Report Finance Review (Treasurer's Report) Deanery Synod Report Parish Information Independent Examiners Report Accounts 5) 6)
mini ive Information Saint Michael and St Mary is a parish with one centre of worshipi the Parish Church. Salnt Mlchael on Greenhill Church Street Lichfield StaffordshireWS13 6ED It Is part of the Diocese of Lichfield and is situated in the Deanery of Lichfield. The correspondence address is: The United Benefice Office St Michael's Church Church Street Lichfield Staffordshire WS13 6ED The Parochial Church Council (PCC) is a charity registered with the Charity Commission. PCC members who have served from 1st January 2023 untll the date this report was approved were.. Ex-officio members Incumbent (Licensed to Parish) Abbie Walsh Non-stipendiary (Licensed to Parish) Ruth Bull Churchwardens: Sue Jones Lyn Shiel (to 2023 APCM) Brenda Liptrot (from 2023 APCM) Deanery Synod Representatives: Liz Clarke (to 2023 APCM) Ted Green Steve Oliver Trevor James (coopted by PCC 17/7/23) Elected Members: Ray Allen (until Jan 24) Maureen Brand Richard Brooks David Easton Lynn Edge (to 2023 APCM) June Frayn (to 2023 APCM) Mike Godfrey (Lay Vice-chair) Sheila Irvine (from 2023 APCM) Mike Jones Brenda Liptrot (to 2023 APCM) Veronica Morris (Secretary) (coopted by PCC 1717/23, until APCM 2024) Viv Oliver (Treasurer) Joe Sneddon Alison Stevens (from 2023 APCM) Alan Toplis Officer of the PCC (attends but does not vote) Veronica Morris (Secretary) (until 17/7123 and from APCM 2024)
vernance and Mana eme The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure (1956) as amended that came into effect on 2nd January 1957, and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended. The appointment of members is governed by and set out in the Church Representation Rules. The Council comprises the Incumbent, the Churchwardens, a representative of the Readers, those elected to the Deanery Synod, and other members who are elected at the Annual Parochial Church Meeting, by those on the Electoral Roll. All church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. Members of the current Parochial Church Council and Ministry Team, guided by the Holy Spirit, proactively seek to draw church members into participation in all aspects of church life and governance. We strive to foster fully participating and inclusive congregations across the various services and activities. iv d Activitie St Michael and St Mary's Parochial Church Council (PCC) has the responsibility of co-operating with the incumbent, the Reverend Dr Abbie Walsh, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the Church of St Michael on Greenhill. During 2023 Saint Michael's has been engaged in mission and ministry guided by the current Mission Action Plan. The PCC sees the core purpose of worship in the following terms: As God's worshipping family, sharing Christian faith, hope and love with others. D Publi Benef-t The trustees of the Charity are aware of the Charity Commission's guidance on public benefit 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 Lichfleld: Saint Michael and Saint Mary it helps to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by: Providing facil itie5 for public worship, pastoral care and spi ritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers. Promoting Christian values, and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole. ardin Statement The PCC has complied with its 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). Safeguarding is a standard item on all meeting agendas. It is a subject matter that is taken very seriously by the PCC and appropriate strategies are decided upon to ensure we are fully compliant with best practice and guidance, AII PCC members have completed CO and Cl of the Diocesan Safeguarding training. Our Churchwardens and leaders of certain activities have completed C2 Safeguarding training. All the Ministry Team members have completed C3 training and the Rector completed C4
training. (This paragraph needs updating as the training courses have been updated a while ago) Thanks: In 2024, outside the period of this report, Maureen Brand has indicated her wish to stand down from her role as Safeguarding Coordinator. The Rector and PCC wish to take this opportunity to extend their sincere thanks to Maureen for all that she has done over the past 10 years to ensure that the vulnerable have been kept safe within our church community. F Achievement an rmance Review and Prospective of Parish and United Benefice I continue to be grateful to work with and among so many commltted and faithful people, both clergy and lay. We have seen our worshipping community gradually increase in number this year, with our new monthly Family Communion service, with music led by our junior choir, being among our best attended regular services. This year felt to me like we have settled into a regular pattern of life together, after the upheaval of Covid and the vacancy. We are slowly growing in both number and confidence. Social events including a quiz, a barn dance and our new fellowship afternoon5 have helped to strengthen us as a community; and worship, study and prayer have strengthened us in our faith. We are supported in our work by so many indivlduals and groups who offer their time and gifts to us including our Mother's Union, pastoral vi51tors, bellringers, sacristan and servers, and flower arrangers... to name just a fewl We continue to keep close links with our sister Church in the benefice St John's, Wall and have developed a closer relationship with our neighbouring Church, St Chad's who have been in vacancy for some of this year. Fostering closer relationships with our neighbouring brothers and sisters in Ch rist is an essential foundation for our long-term material and spiritual health, and our mission to make God's love known in our city, I hope that we will be able to reach out in the same spirit of friendship to the congregation of Christ Church when they go into vacancy later in 2024. Christ has called us to be one; and the strength of our faith in him can be seen by how we love our Christian family and our wider community. Thanks to the commitment of all those who support and lead, our children's ministry goes from strength to strength. We have a lively and well attending monthly family praise, and our Messy Church and First steps worship activities are thriving both in number and in spirituality. We continue to keep a close relationship with our school, through myself and others in the congregation who visit and help there, our welcoming of the children for services and visits in Church, and our weekly homework club. We celebrated the faith of some of our year 5 and 6 children with a joyful school confirmation service in the summer, led by the Bishop of Lichfield. We continue to reach out to other schools in our parish, through visits, carol services and our ecumenical open the book team. The varied and high-quality musical tradition of St Michael's continues to enhance our worship and offer us a little foretaste of heaven both on Sundays and in our special seasonal services. Our new Junior Choir continue to flourish and performed their first concert at the end of the summer term, which we celebrated together with a BBQ. The progress towards completing our new Elizabeth Logan Parish Centre continues. We are hoping to have planning permission by the end of 2024 and to be underway with grant applications. During 2023 we held a total of 27 baptisms, 7 weddings and 10 funerals.
I look forward to the coming year with hope and expectation and pray that God wlll bless all we do together in the Service of his coming kingdom. Rev'd Abbie Walsh G STATUTORY REPORTS IR IIRe ort At the end of 2023 there were 148 people on the electoral roll of whom 12 were resident outside the parish. This was an increase of 4 from the previous year. A new electoral roll will need to be prepared in 2025. Before this takes place every effort should be made to encourage new worshippers to add their names so they can play a full part in the life of the church. Mike Godfrey 2) Annual Re ort on the work of the PCC Both PCC and standing committee met six times during the year. Exceptionally there was a special PCC in July to discuss the new parish centre. Standing committee normally meets two weeks before PCC to set the agenda. PCC meetings continue to follow a standard agenda including ministryrt church buildings and churchyard and finance. Under Ministry, PCC has received regular reports from and provided feedback to the rector on worship, mission and pastoral matters. The relationship with the school continues to flourish with several older children from the school being confirmed in church by the bishop during the year. Of note has been the development of the Family Communion Service and reintroduction of the junior choir. A series of sermons in the autumn explored issues around Inclusive church. PCC have also received regular updates on the new parish centre and approved expenditure to repair leaks in the church roof. A special PCC was held in July to approve a vision statement for the new Parish Centre. The church clock has been repaired and is back in position and a Faculty application has been made to have it elertrified. Plans to put in a new AV system continue. Outside the church, PCC has received regular reports on matters to do with the churchyard and has approved Faculty applications to the diocese to support tree planting and tree removal, the installation of new benches and prayer boards, and the restoration of the Elizabeth Logan gravestone. PCC also received regular reports on the preparation and approval of the annual accounts to the diocese. If you want to know more about the work of the PCC or get more involved, please look for the approved minutes on the notice board at the back of church or find them on our website (from April 2023). In addition, periodically there will be summaries in the church magazine of what was discussed at pcc. Veronica Morris PCC Secretary 3) - Our Worship Centres (Fabric, Goods and Ornaments) Repairing and maintaining the church roof has been a priorityi due to several storms, and general wear and tear. We have had significant damage to the area around the tower and have used the skills of a 'Steeplejack' to keep the costs more manageable. We will continue this way in the future. We are very grateful to St Michael's Trust for a grant to assist with this work.
All the necessary safety checks have been undertaken, including the portable electrical equipment, fire extingtjishers, and replacing the high-level l ight bulbs. A new offlce chalr was purchased for the Administrator, 6 hymn books and a bin for the kitchen. Sue Jones and Brenda Liptrot Churchwardens nce Review Treasurer's Report In 2023 PCC, recognising that the church's income was well below that required for the Accruals accounting method, took the decislon to change to the simpler Receipts and Payments arrangement which recognises incomings and outgoings at the time when payment takes place rather than when consumed. At the same time the church finances were migrated from Finance Coordinator accounting package to My Fund Accounting On Line (MFAOL). Thi5 involved the adoption of the Church of England nominal account code matrix. 2022 costs have been re-analysed under the new coding system so that more meanlngful cross year comparisons can be made. General Fund Receipts- In 2023 our giving levels dropped by £6,402 to £84,285 as the result of a number of regular givers sadly dying or moving away from the parish during the year. The tax recoverable on gift aided donations also fell in consequence from £16,949 in 2022 tax year to £16,255 in 2023 tax year. Fee and magazine income remained steady at £4,549 and £2,937 respectively. The Barn Dance which was primarily a fellowship event nevertheless raised £118 and the talents scheme including knitted toys and homemade jam generated £182 for the general fund. Grants for the general fund amounted to £910 VAT repayment from the DCMS Listed Places of Worship Scheme (LPOW). Total income for 2023 came to £97,745 in comparison with £103,380 in the previous year, Payments - Costs increased considerably from £102,243 in 2022 to £113,927 in 2023. The main drivers for this were the increase in heat & light costs from £3,705 to £8,962 of which a significant portion is in dispute with SSE following their installation of a smart meter during 2023. In addition, unbudgeted roof repairs totalled £7,220. Additional mission & outreach activities have mean that costs have increased to £1,674 from £394 in 2022. These include school baptisms & confirmations, film clubs, messy church and homework club, though some of this was offset by donations from attendees. Salaries for staff rose in line with the Real Living Wage Foundation and RSCM recommendations. This year staff costs have been shown separately rather than absorbed into other account codes such as magazine, churchyard, administration and upkeep of services. Charity Collections In 2023 these are not shown as separate funds within church income but as agency accounts held on behalf of the various charities. The following sums have been paid out inclusive of tax recoverable on cash donations under the Gift Aid Small Donations Scheme.. Embrace the Middle East £240; Angel Tree Swinfen £237. Christians against Poverty £269. Pathway £435; Children's Society £820; Church Army £319; Wateraid £356. Capital Funds Clock - a grant of £2,000 was received from Conduit Lands towards electrification of the clock winding system and £886 VAT refund for earlier work was received under the LPOW scheme. Donations including Gift Aid of £181 were received and the net proceeds of the Quiz totalled £156. As at 31 December the Clock Fund stood at £1,974. Roof - A grant of £1,500 was received from St Michael's Trust towards roof repairs and a further £381 VAT refund from the LPOW scheme.
Capital Development Funds (Parish Centre) A LPOW VAT grant in respect of the archaeological survey totalling £1,431 was received in the year, restricted donation totalled £450 and dividends and interest earned amounted to £1,217. £7,438 was paid for the ground survey and report together with architect fees. The balance in the funds (designated and restricted funds) totalled £36,420 at the end of the year of whlch £30,857 are held in investments. The endowment fund which holds the proceeds of the church hall land sale earned £20,460 interest in 2023. Churchyard Fund A grant of £2,380 was received from Llchfleld City Councll towards the maintenance of the open churchyard. Curate Fund The Curate Fund earned £1,180 in interest and dividends. Income received from this source Ss restricted to the support of the costs of curates and assistant mlnlsters/staff, Investments The value of funds held in the CBF Investment account recovered by £6,986 during 2023. Dividends received are split between the restricted Churchyard, Curate, Hill grave funds as well as the Capital Development fund. Bank interest earned on the PCC operating income totalled £857 again spread over various funds. As usual I must thank all those who contribute to the management of church finances.. the counting teams, Pat Toplis as Fees Treasurer and Sandy Baker as the former Stewardship Recorder and all the members of the Finance & Planning Committee. Vivien Oliver Hon Treasurer & Acting Stewardship Recorder Reserves Policy It is PCC policy to try to malntaln a balance on free reserves (net current assets) which equates to at least three months unrestricted payments. This Is equivalent to £28,482 (2022., £25,561), 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 £33,375 (2022: £48,518) which is a little higher than this target. Investment Policy The charity is granted power to invest in suitable investments under the PCC Powers Measure 1956 and the Trustees Act 2000. As a charity, the Trustees have a duty of care to take such advice as is appropriate before investments are undertaken. The charlty's investment policies are based on two key principles: Ethical Investment - this includes ensuring that investments are held in companies which have high standards of corporate governance and act in a responsible way towards stakeholders. Long-term responsibilities the trustees are aware of their long-term responsibilities in respect of the Restricted and Unrestricted reserves and as a result follow a prudent approach to investment decisions. Investment pollcy for long-term funds is aimed primarily at generating a sustainable income, with due regard to the need for the preservation of capital value, and the possible need to realise investments to meet operational needs. The charity does not have a policy of generating income at excessive or high risk - known as "purchaslng income" where hlgh returns are guaranteed at the expense of capital.
In summaryi the charity has an overall policy to maximise Income while preserving the real value of its funds. Due to the nature of the charity, an ethical investment policy is taken into consideration when investments are made: The charity follows the Ethical Investment Advisory 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; * demonstrate responsible employment practices; are conscientious concerning issues of corporate governance, the environment and human rights; are sensitive to the community in which they operate. Planned giving, collections and donations are the main sources of fund raising along with tax recoverable. Related Parties Donations from Related Parties Donations from related parties during the year totalled £29,649 (2022: £17,325). All these donations were received without conditions. Remuneration paid to Trustees David Easton, a trustee of the PCC, was paid £1,694 (2022: £1,368) by the PCC during the year for his role as churchyard steward. He does not participate in PCC discussions in connection with his employment. No pension contributions or benefits were made by the PCC in connettion with this employment. Expenses paid to Trustees One trustee was reimbursed £211 (2022: £189) for phone/broadband during the year. No other expenses were paid to any other PCC member, persons closely connected to them or related parties. 5) Deane nod Re ort Our Rector, Revd Abbie Walsh, is the Assistant Rural Dean. The elected lay representatives to Deanery Synod for 2023 were: Liz Clarke (who resigned on leaving Lichfield), Ted Green and Steve Oliver. Trevor James was co-opted by PCC in mid-2023 to fill the vacancy left by Liz Clarke for the remainder of the triennium. Lichfield Deanery Synod held four meetings in 2023, two by Zoom. 23 February by Zoom. Bishop Michael spoke to Us from Liverpool, where he was attending a conference. His subject was Lent and his personal observance of Lenten discipline. This was followed by a presentation by Abbie, as Chair of the Deanery Shaping for Mission Groupi on the open meeting it had already held and the ones that were to follow (detailed in last year's report). Abbie finished her presentation by asking each parish represented to make known one thing their church had to celebrate and one thing for which they needed prayer. There was a wide list of subjects. 15 June at St James Brownhills. Helen Robertson, Head Teacher of St Michael's School, gave a wide-ranging talk on Growing Faith, in which she explained the interaction between the school and the Church, particularly St Michael's, in growing the faith of the children. As one who knew about many of the initiatives, I was still surprised to hear about the depth of involvement that we have with the school. It was clear that many attending the Synod were
amazed that so much could be achieved by close liaison and it is to be hoped that they took examples of best practice away with them. 18 September at st Michael on Greenhill. Deanery Synod meetings always begin with worship, but this time Abbie celebrated Holy Communion with the theme of Creation, which was much appreciated by all attending. She then gave a presentation and led a discussion on Community Fellowship. Initially she looked at the two questions that each church had been asked by the Archdeacon.. a. What is the vocation of your church? b. How far would you say your church is flourishing at this time? (Within the United Benefice these questions have been addressed by the two PCCS.) We broke into Small groups and, in the same way that we had done individually at the February Synod, we looked at areas that each church wished to celebrate and for which they requested prayer. 21 November by Zoom. Bishop Jonathan Clark, the former Bishop of Croydon, is acting as the temporary Bishop of Wolverhampton at the moment. He spoke about his road to ordination as priest and bishop and then discussed three challenges to the CofE". a. Can we be counter cultural enough to keep on trusting people who are different from us? b. We need to bridge the generation gap. c. The church needs to understand that it is no longer rich. Bishop Jonathan stayed online to give very entertaining answers to a range of questions about his life and faith. See also my article In the Benefice magazine about the consultation he has carried out to discern the feelings within the Wolverhampton Episcopal Area about the appointment of a new bishop. Ted Green 6) PARISH INFORMATION The following are a list of groups and activities that are an integral part of our church's daily life. Children and Youth Work First Steps Messy Church Homework Club Junior Praise Junior Choir Camas Our Worshipping Life Bellringers Music Department Church Fellowship Mothers, Union Film Club Tuesday Club Walking Group Sewing Group Charitable Work Pathway Project Lichfield Foodbank Christian Aid Water Aid io
Angel Tree Macmillan St Giles Children's Society Embrace Church Urban Fund - Lichfield US (United Society - formerly USPG) Church Army Schools St Michael's VC Primary School Scotch Orchard Primary School Streethay Primary School Five Spires Primary Academy Abacus Nursery Names and addresses of advisers Bank Uoyds Bank 22 Conduit St, Lichfleld WS13 6JS Investment Managers CCLA l Angel Lane, London EC4R 3AB Independent Examiner Jonathan Hill Lichfield Diocesan Board of Finance St Marys House, The Close, Lichfield WS13 7LD Approved by the PCC on 2A .'.W.t. 2024 and signed on its behalf by: Reverend Abbie Walsh (Chair) Mike Godfrey (Vice Chair) li
Independent Examinerfs report to the trustees/members of The PCC of Lichfield St Michael and St Mary Registered charity number.. 1139017 I report on the accounts for the year ended 31" December 2023 which are set out on the following pages. Res ective res onsibilities of the Trustees and Inde endent Examlner The charity's trustees are responsible for the preparation of the accounts. The charit5 trustees consider that an audit is not required for thi5 year under Section 144 of the Charities Att 2011 Ithe Charities Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the General Directions given by the Charity Commission (under section 14515llbl of the Charities Act, and to state whether particular matters have come to my attention. Basis of Inde endent Examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations 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 a5 to whether the accounts present a "true and fairf, view and the report 15 limited to those matters set out in the statement below. Inde endent Examiner's Statement In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect: accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the with the accounting records I have come across no other matters in connection with the examination 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 Diocesark Board of Finance St Marys House, The Close, Lichfleld WS13 7LD Date.. 12
Parochial Church Council of St Michael and St Mary Financial Ststements for the Year Ended 31st December 2023 Accounting Policies The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the ReIPtS and Payments basis. There may be minor discrepancies in the lotals as the pence are not being shown. Fixed Assets Consecrated and benefice property is not included in the accounts by s.1012)(a)&(C) of the Charities Act 2011. Moveable church furnishings held by the Wicar 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 (at any reasonable timel. For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at markèt value at the year-end. Description of Funds Unrestricted 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 its 'Yree reserves as disclosed in the trustees, annual report. RestriGted funds comprise of two elements.. a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on Ihat fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. Endowment funds are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend Capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestriGted. Full details of all their restrictions are shown in the notes to the accounts. 13
Parochial Church Council of St Michael and St Mary Financial Statements for the Year Ended 31st December 2023 Receipts and Payments Account Unrestricted Designated Restricted Endowment funds funds funds funds Total Prior year funds total funds Income and endownents trom.. Donations and189acJes Income from charitable a¢tivrtE5 Other Iracling 8elniities Investments Other Inco Total income and endowments from: 64.285 4.660 4,780 1,029 3.000 97,754 1.632 3.380 15.708 3.297 568 2.288 101.624 11.337 5,348 25,721 102.834 10.216 3,995 11,765 1,943 20,460 6.954 21,861 20.460 147.030 131,744 Expenditure on- Raising fund5 Expenditure on charitable activrties Total expenfliture on.. 679 113.248 113,927 403 8,622 9,024 1,081 136.252 137,333 139 123,684 123,823 14.382 14,382 Net Income I lexpendlturel 116.1731 17,4271 12,837 20,460 9,697 7.921 Transfers Gross transfers between fund$- in Gross transfers beeen fund$- out Net Incomel lexp8ndliur*l 6.456 6,456 6.456 9.697 681 7.921 122.fj301 17,4271 19,293 20.4 Other recognised gains I losses Gains I losses on investment assets Not movoment in funds 2.443 14,9841 6.947 16,644 10.474 12,5521 122,6301 23,797 20,460 Totsl fund$ brou9htforward 56,005 66,992 75,885 638,410 837,291 B39,843 Totsl funds ¢arrled loard 99.681 658 870 853.93$ 837.291 Representsd by Unrestricted General FUTh 33.375 56.tyJ5 0051gnate Capital (Generall Designated Fund Gapitsl Development Designated Fund ChurGhyaid DesNJnated Fund Flower Designated Fund Healing Designated Fund Organl$t Fees D&signated Fund 2.120 32.984 24.586 163 1.059 2.120 32.984 24.586 163 1.059 2.055 35.423 27.213 212 1.026 1.062 Restrlct8d Allai Furnishing5 & Veslrnenls Restricted Fund Bells Restricted Fund Bike Rack Restricted Fund Capital Development Restncted FUTh Children 5 Society Restricted Fund Churchyard Restricted Fund Churchyard Tap Restricted Fund Clock Restoration Restricted Fund Coronalioo Tree Curate5 Restred Fund He81ing Reslricled Fund Hill Grave RestriGted Fund iichfield Foyer Restricted Fund ghting Restricted Fund Miss George Bequest Restricted Fund Music And Choir Reslricled Fund Organ Restoration Restricted Fund Rector & Walden Hollgsons Rectory Redecoration Scheme Restricted Fnd Relirernent Re5tricied Fund Roof Restricted Fund Sound System Re51riGted Fund ndow Restoration Restricted Fund Youth Outings Restricted Fund 159 1.562 250 3.436 159 1,S62 250 3.438 159 1,514 250 2.893 15.513 269 1.974 15,513 289 1.974 12,505 281 11,2441 42.555 4.499 8.697 321 536 827 2,634 949 781 256 99 16931 8.512 892 5.668 42.555 4.499 8,697 321 536 827 2,634 38,445 4,360 7.928 321 1,098 801 2,677 833 781 256 99 16931 8.512 892 5.668 248 109 12,1541 2,192 1.835 EndowThent Church Hall Endowment Fund 658.870 658 870 658.870 658 870 38.410 638 410 14
Parochial Church Council of St Michael and St Mary Financial Statements for the Year Ended 31st December 2023 Statement of assets and liabilities - 2023 General Desi nated Restricted Endowrnent This tar Fixed assets- Investsnents CBF In Fund 9001S- 5QA Treasury Stock 2025- 28.867 1,990 30.857 52.368 61.235 1.990 83,224 74,249 2.029 76,278 Totsls 52.368 Current assets- Cash at bank and In hand Lloy(Is Current 4488- Uoyds Fees Account 5538 Dummy- CBF Dep05itAccount 90010- LOT CBF Depo&t 2899D- Petty Cash. 4,829 518 27.954 2,087 482 28.583 7,719 14.634 999 96,131 658,870 75 770.710 29.594 1.965 90.970 638.410 75 761.013 39,595 658,870 75 33,375 Totals 31,151 47,314 658.870 Grdnd total 658 870 853 935 837 291 Statement of assets and liabilities - 2022 (re-stated) General De51 nated Restricted Endowrnent Thi5 Fixed as5ets- Inve5trnents CBF In Fund 9m1S. 5% Treasury Slo¢k 2025- 26,384 2,029 28.413 47.864 74,249 2.029 76,278 Tota15 47,864 Current assets- Cash at bank and in hand Lloyds Current 4488- Lkyds Fees Account 5538- CBF Deposrt Acceunt 90010- LDT CBF Deposit 2899D- Petty Cash- 22.934 751 32.244 4.717 1.214 32.647 1.942 29.594 1.985 90.970 638.410 75 761.013 26,079 638.410 75 56,005 Totals 38,578 28,021 638,410 Grand total 636 410 637 291 Analysis of receipts and payments Total ear Unrestricted Desi nated Restricted Endowment This Last RECEIPTS Donations and legacies Gift Aid - Bank Gift Aid- EnVeloS Regular Giving BILJe Envelope3 Other planned giving Pdge$- Bank other planned giving- Pledges Env Othei Regulai Giving Loose plate collections Giving through church boxes One-off Gift Aid gifts Donations appe81s elc Donation5 8ppe81s et¢ GA CAF Vouchers Contactless Machine Tax recoverable on Grft Aid 41,505 12,158 4.966 2,436 370 80 41.585 12.158 4,966 2,436 370 58.352 2,424 2.792 2.485 451 4.872 2,657 4.349 1,715 542 1,715 542 905 3,223 1.726 231 338 230 18.255 1,432 5,609 105 338 230 17,726 1,047 17,925 31 1.440 15
Recurring 9rant5 Non-recurring one-off grants 910 1,431 5.147 2,000 15.708 7,487 2.000 101,624 2,380 3,100 102,834 T(Ilal 84.285 1.632 InGome from charitable activities Fees lor weddings and funerals Bookstall sales lo promote objectives Memorial Book Inscriptions Church Outing Contributions 4,549 72 40 3,380 110 8.038 72 40 10.136 80 3,187 3.297 Total 4,660 3,380 11.337 10,216 Other trading activitles Other funds generated Talents Talents Gift Aided Magazine income- advertising Parish magazine sales Supply of goods Office Incorne Coffee Money 710 146 17 1,110 1,827 59 355 556 4,780 568 1.278 146 319 104 878 1,866 22 433 343 3,995 1.110 1,827 59 355 556 5.348 Total 568 Invostments Dividends Bank and buildlng Society interest Total 888 1,431 857 2.288 2,319 23,402 25,721 2.307 9.459 11,765 1,029 1,029 20.460 20,460 1.943 Other income Insuran claims Benefice Shared Costs Contribution Total RECEIPTS TOTAL 400 3,000 3,000 3,000 3,000 147,030 2,935 131.744 6,954 21,861 20.460 PAYMENTS Ralslng funds Cos15 of stewardship campaign Costs of fetes & other events 181 518 679 161 920 1.081 139 403 403 Total 139 Expenditure on charitsblo activities Giving to mi55K)nary societies GNing- reliel and development agenctes Home mission Secular ch8r4ties Ministry parish sharg elc Salary of parish adtninistrator Salary of Organist Salary of Churchyard Steward Working expènses of incumbent- Sl Micha Clergy & Stsff working expenses- St Mic Rectory expenses Incumbent's telephone- Benefice Education- Benefice Parish training and mission St Mi¢hael Parish Mi55ion- Messy Church Parish Mission- Film Club 153 183 16 16 25 130 57.747 12,342 7,269 25 130 57,747 12.342 7,269 1,694 504 1.742 57,747 10.196 6,484 1.398 50 1,694 40 345 1,438 189 211 255 1.112 211 255 1,112 77 42 376 42 376 93 317 16
Parish Mission - Homework Club Parish Mission - Church Outings Church running- insurance Church office- telephone ChLJrch mainlenawe Cleaning Church running- other Office Equipment Depreuation hurch equipment Upkeep of services - St Michael Deputy Organist fee$ Upkeep of services- Bene*ce Upk8op of ¢hurchyard Administration- St Michael Administration - Beneli¢e Bank Charges Church running- water church running- heating and lighling Magazine expenses Coffee & Tea purchases Governance costs examination fee Church major repairs- structure New building Parish Rooms 144 144 5,784 3,376 864 2,745 3.276 291 62 5,784 3,376 664 1,728 3,276 191 62 4,123 1.018 1.824 3.016 100 2,626 183 2,207 486 637 5.428 396 2,346 473 247 3,705 3,111 67 200 9,407 2.286 123,684 123,823 1,657 509 473 251 100 2,008 509 473 6,220 778 865 478 260 8,962 2,714 128 4CKJ 7,220 7,438 136,252 137,333 5,OQKJ 1.221 400 378 865 478 260 8,962 2,714 128 400 7,220 7,438 14,382 14,382 Total PAYMENTS TOTAL 113,248 113,927 8,622 9,024 GRAND TOTAL 7,427 12,837 20,460 9.697 7.921 Fund movement by type - 2023 enin Ineomin Out oin Transfers GainsAosses Closin Altar 8 Ve- Altar Fumishings & Restricted 159 159 159 159 Sub-total forAltar & Ve Bells R8s- Bells Restrfctsd Fun Reslricled 48 1.562 1,562 Sub-total for Bells Re5 1.514 Blkg Rack. Blkè Rack Re51ricted Restred 250 2SO 250 250 Sub_total fr•r Bike Rack Cap De- Capltal Dev¢lopm¢nt DesYJnated 35.423 35,423 2.555 2,555 7,438 7.438 2,443 1443 32.984 32,984 sub.total for Cap Dev D¢ Cap Dev Ro- Capltal Development Reslricled 2.893 1893 542 542 3.436 3.436 Sub-total for Cap Dev Re Cap Gen De- Capltal IGenerall Do De5ign4led 66 66 2.120 2,120 Sub-total for Cap Gen De 2,065 Chlldren's- Childr•n'$ Soclety R Restricted 10 10 10 sub.total for Children. Church Hal- Church Hall Endt)wTnen Endowment 638.410 638,410 20.480 20,46 658,870 658.870 Sub.tIAal for Church Hal Churchyard. Churchyard D¢signat• Designated Restricted Restricted 27,213 12.505 4,CE6 2,909 6,693 24.586 15.513 269 40,368 1.050 Sutstotal for Churchyafd 39,979 6,983 1,050 Clo¢k Re$- Clock Rostora¢lon Re Re$tri¢ted 1,244 11,2441 3.821 3,621 403 403 1.974 1,974 SulAotal for Clock R85 17
Curates Re- Curatss R¢strlGted F Restrict 38.445 38,445 1,180 1,180 2.929 2.929 42,555 42.555 Sub4otal for Cura¢es Re Flowor D8s- Flower Designated Fu OesHJnated 212 212 201 201 251 251 163 163 sUtOtal for Flower Des Foyer Res. Li¢hfigld Foyor R88t ReStrell 321 321 321 321 Sub-totsl for Foyer Res G80ryo Beq- Mlss George 88quest R8Strided 801 801 827 827 Sub-total for George Beq 26 Heatlng De. Heatlng Designated F Designated 1.026 1.026 33 33 1.059 1,059 Sub-total for Heating De Heating Re- Heatlng Restrfcted F Restr1dj 4,3eO 360 139 139 Sub-total lor Heatlng Re 4499 Hill Grave. Hill Grave Restrlcte Restricted 7.928 7,928 245 524 524 8,697 8.697 sUtOtal for Hill Grave Llghtlng R- Llghting Restricted ReslrKled 1.098 1,098 35 36 598 598 536 536 Sub.totsl for Lighting R Music & Ch- Music And Choir Rest Re5tiicted 2.677 2.677 2W 2W SUt01 for Musl¢ & Ch 158 2.634 Organ Res. Oryan Restoratron Re Reslricled 833 83J Sutrtotal for Organ Res 117 949 Organlst D- Organlst Fee5 Design Desvjnaled 1.062 1,062 1.096 1.096 Sub-total for Oryonl$t D R&W Hodgs- Rector & Warden Hody ReslriGled 781 781 781 781 Sub-total for R&W Hodgs R¢¢tory R*. RKtC+ry R¢decoratlon Restricted 248 258 256 Stsb-total for Roctory Re Retirement- R8tlrem6nt RerICts R&stricled 109 109 390 390 400 400 Sutstotsl for Retirement 99 Roof Res- Roof Restrlctsd Fund Restricted 2.154 12,1541 1.881 1,881 420 420 693 16931 StOtal ftsr Roof Res Sound Sy5t- Sound Systsm Réstr1¢ Restricted 2.192 2.192 6.320 6.320 8.512 8,512 Sub-total for Sound Syst Tree- Coronatlon Tree Restricted 25e 256 270 270 14 Sub-totsl for Tree Window Res-wlndow Rostoratlon R Restricted 865 865 28 28 892 892 sub.total fof Wndow Res Youth Out. Youth Outings R05trS Restri¢led 5.784 5.784 5.678 5,676 5.8S8 S,668 s10tal foryouth Out 1.835 3.941 General. General Uniestrided 113.927 6.456 18
Sub-totsl for General 56,OOS 97.754 113,927 16,4561 33,375 Grand total 837,291 147,030 137.333 6,947 8S3 935 Fund movement by type- 2022 (re-stated) INcornin Out oin Transfers Gains11055es JourDa15 Closin Biblelands- BlelandS Restricted 183 183 183 183 Sub-total for Blblolands CArmy- Church Amy Restricted 277 277 277 277 Sub-total for C-Army CAP£lock. Capltal Fund- Clock Reslii¢ted 2.401 2,401 5.316 5,316 1.244 11,2441 sub.total for CAP£lock 1,671 CAP-ROOF- Capltal Fund- Roof Restncted 2.554 12.5541 400 400 Sub-totsl for CAP.ROOF 12,1541 CAPHEAT- H8atlng Appeal Designated Reslrited 1,013 4.700 5.712 13 62 TS 1.026 4,360 5,386 402 402 Sub-total lor CAPHEAT CYARDTAP. Clyard tap Restri¢ied 257 2S7 261 261 sub.total for CYARDTAP Cap-Bike- Capitsl Fund. Bik ReStrd 250 250 250 250 Sub-total for Cap-Blke Cap-Sound- Capltal- Sound Syst Restricted 808 18081 2.192 2,192 Sub-total for Cap4ound 3.000 Muslc. MLtsie and Choir Acti Reslrlded 2.491 2,491 186 186 Suttal ftsr Music 2.677 Organist- Organist fees fund D85unaled 1.049 1.049 14 14 Sub-total for Organl$t 1.062 Pathway- Pathway Project coll Restricted 440 44D 440 Sub-total for Pathway RBL. Royal Briti$h Legion Restricted 62 62 62 62 Sub4oial for RBL All$oul$. St Giles Hospice Col Restricted 250 260 250 260 sub.total for All$ouls General- General fund Unrestricted 57.679 57,679 103.380 103,380 102.243 102,243 2.812 12,8121 56 005 56,005 Sub-total for fj¢n¢ral Angeltree- Ang81 Tree Fund ISw4 Restricted 205 205 205 205 Sub-totsl for Angelt Be115- 8ells Capital Fund Restricted 1.494 1.494 20 20 1.514 114 Sub4otal for Bell$ Burseveil- Altar furnishings & Restricted 159 189 1S9 Sub-total for Bursevell Cfyard- Church Yard 19
Designated ReStrted 25.688 13.645 39,333 5,709 2.991 8.699 6,503 323 6,826 2,319 2.319 27.213 12,505 39.718 1.489 11.4891 St01 for Clyard Ctyardhill. Hill Grave Restricted 8.478 8.476 743 17431 7.928 7,928 sub.total lor Cfyardhill 196 Capltal- C8pItsI (Generall Desrgnaled 4,989 4,9B9 65 65 3.000 13.0001 2,055 2,0S5 sub.total for Capltsl CapsMn- Capitsl fund. windo Restricted 853 853 865 865 Sub-totsl for Cap¥win Chrldren$. Childrens Society ReslrKled 489 498 10 Sub-totsl for Childrens Curate- Curate$ Fund Restricted 41,582 41,582 1.018 1,018 4.154 14,1541 38.445 38,445 Sub-totsl for Curate Decrectory- Rect+)ry Redecoratlon Restricted 1.773 1.773 248 248 Sub-total for DKrectory 1,529 Flower- Flower Fund Designated 227 227 201 201 216 216 212 212 Sub-total for Flowgr George. Mi$5 Gtorge Bequest Restricted 791 791 10 10 801 801 Sub-total lor G8orgo Hall- Church Hall Fund Endewrnent 630.122 630,122 8.288 8,288 638.410 638.410 Stsb-total for Hall Organ- Or9an R05toratlon Fu Restricted 822 822 833 833 8u&total for Organ Retlrement. Rement Funds Restricted 109 109 109 Sub-total for Retlr8ment Wateraid- Water Ald Restricted 288 288 288 288 Sub-tolal for Wateraid Youthcrtrt- Youth Outlng$ linGI ResirKted 1,835 1,835 1,835 1,835 SUltotal foryouthout 8pord- Bishop Ordinand Fund Restricted 227 227 227 227 Sub-totsl for Bp¢4rd Uspg- USPG ReStrd 153 153 153 153 Sub4otal for Uspg CAPDEV- Capital Development Deswjnaled Restricted 43.189 1.032 2.893 3,925 4,710 14,0871 35.423 2.893 38,316 SulFtvtal for CAPDEV 43.189 4,710 14,0871 Foyer- Lichfield Foyer Restricted 321 321 321 321 sUtOtal for Foyer ¢aplight- Capltal Fund- light Reslricled 14 14 1.098 1,098 Sub-total for Cgplight 1.084 Grand total 839 843 131.744 123.823 10.474 B37.291 20
Description of Funds Designated Funds Capital General Fund- used for capital donatic>ns not othèrwise restrict&Y or designated. Legacy income is often deposited here in the first instan. Capital Dev- For the parish room project. Churchyard.. PCC fees received relating to the new lopenl churchyard and designated to its upkeep. Mainly used lor mowing, churchyaid steward salary etc. Flower Fund.. donations received for flower displays, usualty received at Easter and Christmas. Used to pay for flowers al these seasons and palronal Servi etc. Hoating: Some legacy monies were designated for installion & repairlrnaintenance of gas heatsng system. Organist.. Accumuled Assistant Organist fjjnds set aside by PCC for purposes of paying an assistant organist when Organist conducting choir Restrictgd Funds Angel Swinfen- Annual collection at Advent carol sètvi¢e ft)r Angel Tree projecl at Swinfen Young Offend&rs Inslitule. Bells Capital Fund - donations and fund-raising for iepairlma1ntenan of church bells. Bike Rack- don81ion towards the installation of a bike rack. Burseveil.. Altar furnishings and robes etc- donationslappeal$ for repairlreplacemenl etc Capltal Dev- For the parish room project. Clock". Donation5 and grants for repair and upgradg of winding mechanism of tower dock Churchyard." Historic'parishioners" fund lormeily held ill diocesan trust for the mainlenanTr of the churchyard. Receives restricted donations, interest and dividends from CBF funds. Mainly used for projects in the old Iclosedl churchyard. Churchyard Hlll: Fund set up by family for maintenance and repair of Hill grave- formerfy held in diocesan trust and receives interest and dividends from CBF funds Churchyard Tap: Donation given to install tap in new churthyard- rAJrrenlly accurnulating interest in deposit aceount. Curate Fund- consists of fhree fomier Diocesan Trusts." Barnard, Vllhisson and Quick & Rowlins. Can be used for payment of curate and assistant minister expensesltraining etc. Receives dldndS and interest from CBF funds. Makes annual giant lo Gen Fund to cover expenses ol assistant ministers, curates etc. Dec Rectory.. Funds paid into Diocesan Scheme for re-decoration of rectory et¢. Some funds held in deposit account. Monies sel aside by PCCS of United Benefice ISTM&M and Wall). Dec Spires.. Funds paid into Diocesan Scheme for re-decoiation of curate house (formerly at the Spires) etc. Some funds held in deposit account. Monies sel aside by PCCS ol United Benefi {STM&M and W8111. Fund was merged into DecRec when the curate house was disposed of. Foyer.. Funds remaining fiom d05ed historic tharity for reliel of poor were pavj into PCC a(OUnt. PCC dlded that Foyer (former youth shelter oc¢upying former pub adjacent to churchyard) was suitable recipient but Foyer was closed down before lunds wuld be used. PCC minded to L15e funds for general outreach purposes but no resolution yel. George: f4qiss Georye Bequest- Historic ¢hurchyard fund sel up for maintenance of George farnily graves and churchyard gen8rally. Former diocesan trust but 13sh deposit only. Receives interest Irom CBF deposit account. Used to help pay for the new car park area in old churchyard. Hall Dèv.. Originally set up to record costs incurred in disposal of hall. temporary location of parish office and fees connected to paiish roorns development. Fund was meiged with Capital Development fund to show net position. Hèating= Donations and grants for installation & repair/maInlenan of gas heating system. Light.. Caprf(al Lighting Fund- set up to iec2ive donalionslgrants lor the inslallation of new lighting Systèm. ReFnaining funds to be used for replacement bulbs etc Music.. Donalionsnundraising for Choir and mu5iG aclivili8s- pays for new music, choir activities etc. Organ Restoration Fund.. donations and fund-raising lor repairlmainlenance of church organ. R&W Hodgsons.. originally set up for the maintenance of the Hodgson family tombs. The terms trf the tiusl have now expired and discussion5 are being held with the Charity Commission regarding the appropriate use of the funds On the trust is wound up Rètirernent.. Funds collected for retiringlmoving on clergy members. No GA Claimab and funds transfèrr8(I directty to recipients. Roof.. Donations and grants for repair ol chur¢h roof Sound.. Donations and grants for installation of new audio visual systems. So far this has included new sound system, drop down $¢reen. digitalllaptop proJector and rner8. New television screens to be installed to improve visibility from side aisles. Tree.. For purchase & planting of new trèè in churchyard to celebrate the coronation of King Charfes 111. St John.. Used lo record direct payments made on behalf of St John's, Wall- usually part ofjoint orders for sacristan supplies elc. This mechanism is used when the fA)Sts have not been re-invoiced for some reason. st Mary.. Income derived from two former diocesan trusts, Cresswell and Smith. Funds were held in CCLA Investment account 8nd dividends and InteSt were paid into DgposII account. In 2021 the cash value of the St Mary fabric funds was granted in final settlement lo St Mary's Guild fot the upkeep of the folrner St Mary's church building. byin.. Capital Windows and Stonework- donationslcollections for repair of church windows and slonewoik. Youth Outing- lundraislngldonations for major youth. (Camas) or Choir singing trips leg Venice}. Children's SocietylBiblelands/PathwaylWater AidlUSPGIChurch ArmylRBUSt Gil¢slBi¥hops Ordination.. Charitable donations received and p8ssed on during the year Endowment Hall.. Parish Rooms- Proceeds of disposal of land on which fomier church h811 starKls. CLSrrently held in diocesan trust. Land was originally made available by council and fvnds can only be used for purposes of equivalent building. 21
Analysis of Transfers between Funds - 2023 Reference Debit Credit Descrfption Tfer Gen to Youth Out Youth Out Res 5,676 Tler Gen to Youth Out General Unr R&WHodgson Fund Tfer R&WHodgsons Re5 781 R&W Hodgson Fund Tlèr General Unr Fund Fund Type Res Tfer Camas - Rer$e 2022 accrual Tfer Camas - Reverse 2022 accrual R&WHodgson Fund Tfer R&WHodgson Fund Tfer 5,676 781 6,456 6,456 Analysis of Transfers between Funds - 2022 Refèrence Fund Tfer cyard R to Fund Tfer cyard R to Debit 2,319 Credlt Decrl tlon Fund ITer Cyard R lo D 2022 2.319 Fund Tfer cyard R to D 2022 Fund Church Yard Church Yard Fund T Des fund tter Cap Gen to fund ffer Cap Gen to 3,000 Fund ffer Cap D lo C8pSound R Caiital (Generall Fund tfer Cap D to Capsound R Capital - Sound System Res 3,OCKJ 5,319 5,319 Fixed Asset Investments Change In market value At 1st Jan Addltions Dlsposals Transfers At 31st Dec Unrestricted Funds Designated Funds 5% Treasury Stock 2025 lF Inv Fund Total Designated 2,029 26,385 28,413 1391 1,990 28,867 30,857 Re5tricled Funds CBFlnvFund 47,864 4,503 52,368 Total 7&278 6,947 83.224 22
Restatement of Funds The PCC have decided to change the basis of preparation of their accrounts from the Accruals Basis to the Receipts & Payments basis. Unre5trirted Designated Restricted Endowment Total As stated at 3111212022 58,816 66,992 75,885 638,410 840,102 Reversal of tangible fixed a55ets Reversal of debtors Reversal of creditors Correct f und balances 110,2981 11,3261 2,369 110.2981 11,4651 8,952 11391 113 26 6,470 16,4701 Funds restated at 3111212022 56.rJJ5 66.992 75.884 638,410 837,291 Receipts and Payments Account- 2022 {reststed) Unrestricted Designated Restrtcted Endowment fund5 fund5 funds funds Total funds Incomlng rosour¢¢$ Incoming resoulces from donors Incoming resources from operab'ng aGtwitE5 Activities for generating funds In¥eslm8nl incorne Other incoming Tesources Other voluntary incoming resources Total incorne 9).687 9.186 1.786 378 40 5,431 2.n6 93,453 14,617 1,786 11,765 4,300 5.823 131,744 1.402 161 1.698 4.139 4.480 13.043 8,288 1.343 103,380 7.034 8,288 Ro$oU¢S used Go$ls of generatlng funds Granis payablÈ Adwitie5 dire¢lly relating to the work of the ch Support costs Church management and administration Totsl expenditure 206 2C 90,465 9,143 2,286 10.152 109.759 2.286 11.572 123,823 11.572 102,243 11.429 10.152 Net Income I lexponditurel resourc¢s bofor• transfer 1,137 14,3951 12,8911 8,288 7,921 Transfers Gr055 transfers between funds- in Gross transfers belween funds- 2.319 13.0001 3,000 12.3191 5,319 15,3191 Other recognised gain8 I losses Gains 11055es on investments Net movement in fund5 4.087 19,1631 6.386 12,8141 1.137 8,288 12,5S21 Total lund5 broughtforward Reslalemenl of funds Total funds carrled forvjard 57.679 2,812 56,005 76.154 78,699 630,122 839,843 2,812 637,291 86,992 75.885 638.410 23