The Parochial Church Council of the Ecclesiastical Parish of Aldridge, Diocese of Lichfield St. Mary the Virgin - Parish Church St. Thomas, Church St. Mary's Mission Tynings Lane Report and Accounts for the year ended 31st December 2024 Charity Registration Number 1139511
Parochial Church Council of the Ecclesiastical Parish of Aldridge Diocese of Lichfield 14 The Green, Aldridge, Walsall WS9 8NH The Annual Re ort for 2024 Minist Team Durin 2024 Rector Revd Steve Doel Revd David Sims Revd Jon Morley (Retired 15112124) Truste Members of the Parochial Church Council pcc Mr l Anderson (Retired Apr 24) Mr lan Baldwin Mrs R Bryant (Appointed May 24) Mr J Chalmers (Lay Reader) Mr M Chapman Mr D Clayton (Warden) Mrs G Davis Mr A Dickson (Warden) Rev S Doel (Rector) Dr C Flenley (Warden) Miss H Ford Mr P Ford Mrs S Grundy (Warden) Mrs A Harrison Mr S Harrison (Lay Reader) Dr J Lee (Retired Apr 24) Mrs B Leech (Appointed May 24) Mrs A Luik (Warden) Mrs K Mason Mr L Matthews-Dibbins (Appointed May 24) Rev J Morley (Retired Dec 24) Ms S Parker Mrs J Peel Miss A Roberts (Warden, appointed May 24) Mrs K Robinson Rev D Sims Mr C Stanford (Warden) Mr I Wilkes Mr P Young (Treasurer) The PCC comprises: Clergy, Churchwardens, Deanery Synod Representatives and elected members from each of the three churches within the Anglican Parish of Aldridge. Elected members serve for a period of up to three years. All church attendees are encouraged to register on the Electoral Roll and stand for elections to the PCC. The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is registered with the Charity Commission. registration number 1139511. Secretary and Administrator: Andrea Potter. Treasurer: Phil Young Bankers Aldridge Parish Church & Tynings Lane Church - Lloyds Bank St Thomas Church - National Westminster Bank Back round The Anglican Parish of Aldridge comprises three churches, Aldridge Parish Church (St. Mary the Virgin ) situated on The Green in the centre of Aldridge, St. Thomas, Church situated in St Thomas Close and St Mary's Mission in Tynings Lane. Revd Steve Doel. Rector, is based at the Parish Church, The Revd David Sims is the minister based at St Thomas, Church and Revd Jon Morley is the curate. The PCC comprises representatives of all three Churches and meets to discuss parish-wide matters, to receive reports from the three district committees and to debate wider issues. They are the Trustees of the Parish finances. Each Church has its own district committee which meets regularly throughout the year and which is free to set up appropriate sub- committees to carry out the day to day work of each worship centre.
Structure Governance and Mana ement The method of appointment of the PCC members is set out in a scheme adopted by the th Annual Parochial Church Meeting on 29 April 2019. The PCC is made up of: clergy who are licensed to the Parish. all persons who have been elected to service on the General Synod, the Lichfield Diocesan Synod. and the Walsall Deanery Synod; all persons who have been elected to serve as Church Warden at the three churches in the parish; a number of lay representatives who have been elected to serve on the area committees, as delegated by those committees. Elections to the area committees are Carried out in accordance with the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election to one of the area committees. Ob"ectives and Activities The purpose of the Charity as stated in the governing documents is to co-operate with the incumbent in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic and ecumenical and to provide public benefit through the provision of free regular public worship open to all. In addition to this we provide grants and gifts to support the wider mission of the church beyond Aldridge, to benefit people in this country and overseas. How our activities deliver ublic benefit and who has benefitted The principal gathering points of the church are our Sunday services which provide public benefit as they are open to all who wish to attend. We have continued to offer web-based access to church services post-pandemic for those who wish to continue to shield or cannot easily attend a physical service. As well as our regular weekly services, we enable our community to Celebrate and thank God at the milestones of the journey through life through baptism and wedding services. and to moum and reflect at funeral services and memorial services. The annual Remembrance Service involved representatives from across the community as we remembered those who have served and given their lives for us. The weekly activities are varied and cover a whole range of different areas. The following provides a brief summary of some of the events that took pla during 2024. 1. Worship teams and other musicallsinging activities in support of Sunday services. 2. Wednesday Worship, a mid-week service led mainly by lay members of the congregation. 3. Alpha courses and other meetings and events which helped people to understand the Christian faith. 4. Small groups meeting together for fellowship. prayer and bible study. 5. Working with toddlers. children, young people, uniformed groups and students in groups and clubs throughout the week. 6. Supporting senior members of our community through groups which meet regularly in the church buildings in our parish. 7. Healing on the Streets -a team from the Church praying for healing for local people. All of these activities are dependent on the many volunteers who lead and give of their time to enable all areas of the Church to function. ljvhilst we employ both full and part-time staff and we have two clergypersons appointed to the Church. we would not be able to function in the way we do without the input of all of our volunteers. The scale of the work of the charity is greatly enhanced by the input of all the members of the Church. The PCC and staff regularly review the activities of the church looking at the success of each key activity, assessing the benefits to those attending and planning future activities accordingly. The success criterion is asking does this activity help. support, encourage and build up people in their lives and faith. We have referred to the guidance contained in the
Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning future activities. Financial Review Levels of voluntary income increased in 2024 by £57,530 to £401,492 though it should be noted that 2024's income was bolstered by a £32,210 legacy received. Other incoming reSoUrS saw falls (Little Fishes play group ceased operations in February 2024, and the associated reduction in income was only partially offset by an increase in trading income), leading to a smaller overall increase in income of £34.265, year on year. Inflationary pressures have continued to impact expenditure levels, though the reduction in events and activities expenditure resulting from the closure of Little Fishes, meant that there was an overall reduction in expenditure of £22,495 to £528,012. Taken together this has meant that an overall deficit of £33,628 in 2023 was tumed into a surplus of £23,132 in 2024. General reserves of £194,210 provide us with a reasonable financial cushion against unforeseen circUmstans. Incoming Resources Unrestricted direct giving increased by £51,220, moving from £312,283 to £363.503. The split of giving across the three churches changed a little compared to 2023, with 540/0 contributed by APC (2023 60 % ), 40 % by St Thomas's (2023 31 % ) and 6¥0 from Tynings Lane Church (2023 9 % ). Direct giving for restricted purposes increased during the year by £7,990 from £29,999 to £37,989. Amounts are given each year at Tynings Lane in respect of the Children's Worker and House, with amounts given at APC and St Thomas for various appeals as the need arises. Income from events and activities decreased by £37,679 from £88,757 to £51.078. This level of expenditure reflects the broad range of activities that are undertaken on a regular basis across the parish. The closure of Little Fishes led to an overall fall in income, with pre-school groups generating £6,897 in 2024 compared with £46.377 in 2023. Grant income (restricted and unrestricted) increased by £4,537 from £49,458 to £53,995. £43,183 of grant income was received from the Cooper and Jordan Trust to support various lay workers across the parish and the trustees remain extremely grateful for the trust's financial support. Trading income increased by £7.454 from £28,047 to £35,501. A substantial proportion of this income is generated by hires of the church centre building. with smaller amounts generated from the hire of St Thomas and Tynings Lane church buildings. The net effect of these and other changes was an increase in total incoming resources of £34.265, from £516,879 to £551,144. Resources Expended Expenditure on grants for mission increased by £6,973 from £34,321 to £41,294, split into unrestricted grants of £33,228 and restricted grants of £8,066. It is the intention of the three churches to allocate at least 10 % of the prior year's unrestricted direct giving for mission purposes in accordance with the objectives of the charity. Grants were made to both local and international organizations, with each local church council deciding on its own allocation of funds. Lay ministry costs decreased by £8,169 from £114.802 to £106,633. Cost of living increases were offset by a reduction in youth minister costs our youth minister left in September 2024 and the post remains vacant. Costs directly relating to the work of the church increased by £8,262 from £275,507 to £283,769 an increase of 3 %. Parish Ministry Costs fell again by £3,078, cost of
living increases having been offset by the parish moving from a 2.25 to 2.0 clergy model. Repair costs continued to be quite low, coming in at £34,199 compared with £30,209 in 2023. The increase in energy costs continues to impact the parish, with light and heat costs increasing from £34.307 in 2023 to £44,024 in 2024. Expenditure on events and activities decreased from £87,514 to £43,853 reflecting the closure of Little Fishes play group in February 2024. Church Administration is a wide-ranging expense category, including administrative staff costs, printing and stationery, telephone, internet and photocopying costs. These costs amounted to £41,164, an increase of £9,091 compared with 2023's expenditure of £32,073. As well as cost of living increases, additional amounts were spent on IT provision during 2024. There were no changes in administrative staffing levels during the year. Trading costs of £2,192 (2023 - £146) were costs of catering and related costs associated with room hires and the Centre Café operation at the Church Centre. Expenditure for the whole parish was £528,012 in total, £22,495 (4.1 % ) less than 2023's expenditure of £550.507. Expenditure was £23,081 less than the total incoming resources of £549,174. Unrestricted activities generated a surplus of £30,393 with a deficit of £7,261 being incurred from restricted activities. The level of unrestricted reserves at £194,210 represents 41 % of unrestricted resources expended during the year (see comment on reserves policy below) Balance Sheet The fixed assets balance reduced by £24,653 to £979,019, being the depreciation charge for the year for the church centre. The church centre is held within restricted accounts. Debtors increased from £23,404 to £26,922. £23,512 of the year-end 2024 balance was the HMRC Gift Aid debtor (2023. £21,875) Cash balances increased from £222.948 to £251,803. The closing cash and bank balance is more than sufficient to cover commitments owing from restricted funds received. Creditors decreased from £32,647 to £17,235. Public Benefit The Trustees of the Charity are aware of the Charity Commission's guidance on public benefit in The Advancement of Religion for Public Benefit and have regard to it in the administration of the Charity. The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of Aldridge it helps to promote the whole mission of the church (pastoral, evangelical, social and ecumenical) more effectively, within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by= Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers, and Promoting Christian values and sen4ice by members of the Church in and to their communities, to the benefit of individuals and society as a whole Risk Mana ement
The trustees acknowledge that they are responsible for risk management and review the major risks, both financial and non-financial, to which the Church Council is exposed in the course of its current activities. Risks are assessed to ensure that appropriate systems and controls exist to minimize internal risks and that effective response mechanisms exist to respond to and minimize the impact of external risks. A working party has been established across the three worship centres to formulate policy for the Church Council and which ensures that appropriate risk assessments are carried out on a regular and systematic basis The operation of three separate Ghurches, each with its own district committee, financial system and delegated powers, increases the likelihood of low impact events, but lessens the likelihood of high impact events. Most identified risks are likely to affect only one of the three worship centres, giving a degree of resilience that would otherwise not be possible. Finance risks are managed by budgets and regular financial reviews with appropriate internal control procedures in place. Operational risk is managed in a variety of ways, for example by utilising appropriate insurance policies, examining alternative meeting venues etc. Legal and statutory requirements are reviewed on a regular basis, and comprehensive Child and Vulnerable Adult Protection Policies are in place. Trustees. Res onsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to" select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Volunteers In temis of the number of hours spent on preparing for and running church activities, the majority of effort comes from volunteers. The work of the church could not be sustained without the contribution made by volunteers in all aspects of its ministry, from holding church senils, to children's and youth work, pastoral work, maintenance of the church buildings, operation of the church centre, governance and management of the church. The appointment of volunteers has due regard to safe recruitment processes, particularly where the work involves working with children or vulnerable adults. This will include. where appropriate, having a formal job description, being interviewed with references taken up, and the completion of DBS checks.
Reserves Polic It is not the policy of the PCC to maintain a minimum balan on unrestricted reserves other than to cover short-term needs. The unrestricted reserves at the year-end of £194,210 would allow for a period of continued operation of around 4 months in the event of an emergency situation. Because of its commitment to international mission together with outreach work within the local community, the PCC considers that any resources generated in addition to those forecast in its budget would most likely be spent in the current year rather than carried forward. The balance of £1,046,299 in restricted funds includes £979,019 held in respect of the Church Centre building at the Parish Church. These reserves will decrease over a period of 50 years as the building cost is amortised through the SOFA. On behalf of the PCC Rev David Sims (Trustee) Date
Independent Examiner's Report to the Trustees of The Parochial Church Council of Aldridge I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 8 to 15. Responsibilities and basis of report As the Gharity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that l am qualified to undertake the examination because I a member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Richard Smallwood Chartered Accountant 20 Birmingham Road Walsall West Midlands WS12LT th 12 September 2025
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE SUMMARY OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Unrestricted Funds Restricted Funds TOTAL FUNDS TOTAL FUNDS 31112123 Notes Incomin Resources Voluntary Income Direct Giving Grants Received Events & Activities Activities for Generating Funds Other Ordinary Income Trading Income Investment Income 2a 2b 363,503 42,595 50,272 13 6,346 35,501 2,273 37,989 11,400 806 401,492 53,995 51,078 13 6,687 35,501 2.378 343,962 49,458 88,757 114 4.892 28,047 1.649 2c 341 2d 105 500,503 50,641 551,144 516,879 Resources Ex ended Grants for Mission Lay Ministry Support Costs Costs directly relating to the work of the church Events and Activities Tynings House Govemance Costs Church Management and Administration Trading Costs Costs of Generating Funds 3a 3b 33,228 89,667 3,040 8,066 16,966 41,294 106,633 3,040 34,321 114,802 490 3d 253,794 43,157 29,975 696 2,199 283,769 43,853 2,199 3,688 275,507 87.514 2.234 3.400 3f 3g 3,688 3h 41,164 2,192 180 41,164 2,192 180 32,073 146 20 470,110 57,902 528,012 550.507 Net movement in funds 30,393 -7,261 23,132 -33,628 Opening Balance 167,717 1,049.660 1,217,377 1,251.005 Transfer Between Funds 4,900 3,900 Closing Balance 194,210 1,046,299 1,240,509 1.217,377 All income and expenditure derive from continuing activities
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE BALANCE SHEET AT 31ST DECEMBER 2024 31ST DECEMBER 2024 31ST DECEMBER 2023 Notes Fixed Assets Fixed Assets 979,019 1,003,672 979,019 1.003,672 Current Assets Debtors Cash at Bank 26,922 251,803 278,725 23.404 222,948 246,352 Creditors 17,235 32.647 Net Current Assets 261,490 213,705 NET ASSETS 1,240,509 1,217,377 Funds Unrestricted Funds Restricted Funds 194,210 1,046,299 167,717 1,049.660 1,240,509 1,217,377 Approved by the Parochial Church Council and signed on its behalf by.. Rev David Sims (Trustee): Phil Young (Treasurer>: Date J.o.i.1.. The notes on pages 10 to 15 form part of the accounts
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 1 ACCOUNTING POLICIES The accounting policies are set out on page 15 2 INCOMING RESOURCES 2a Voluntary Income - Direct Giving (including restricted items) St. Mary the Virgin- Parish Church -gift aid recovery st. Thomas -gift aid recovery St. Mary's Mission Tynings -gift aid recovery Other 179,188 37,217 137,257 20,229 25,122 2,479 173.902 35,509 84,344 15,675 25,638 8,339 555 343,962 401,492 2b Grants Received Cooper & Jordan Trust re lay workers Other Grants 43,183 10,812 53,995 45,118 4,340 49,458 Activities for Generating Funds Commission on photographs 13 13 114 114 2d Trading Income Bookstall Income Hire of Church Buildings 134 35,367 35,501 28,047 28.047 2e Investment Incomo Bank Interest 2,378 1,649 3 RESOURCES EXPENDED 3a Grants Grants to Institutions, local and overseas Grants to Individuals, local and overseas 29,931 11,363 41,294 23,137 11,184 34,321 3b Lay Minrstry Lay Workers in Aldridge 106,633 114,802 3c Support Costs Teaching materials, DBS checks 3,040 490 3d Costs directly relating to the work of the Church Parish Ministry St. Mary the Virgin- Parish Church St. Thomas st. Mary's Mission Tynings Church Centre Amortisation General church upkeep etG. st. Mary the Virgin- Parish Church st. Thomas St. Marls Mission Tynings 59.492 60,492 427 24,653 60,000 55,281 8,208 24,653 85,369 34.937 18,399 283,769 72,320 40.328 14,717 275.507 10
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE NOTES TO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 3 RESOURCES EXPENDED Continued Events and Activities Church activities Note: Income and expenditure are both gross in the accounts Tynings House purchase (see note 4) Repairs and refurbishments costs 43,853 87,514 3f 2,199 2,199 2,234 2,234 3g Governance Costs Independent Exarnination Costs 3,688 3,400 3h Admlnistration St. Mary the Virgin - Parish Church St. Thomas 31,652 9,512 41,164 23,170 8,903 32,073 Tradlng Costs Catering and Centre Café Costs 2,192 2,192 146 146 ASSETS AND INVESTMENTS Fixed Assets Church 4 Tynings Centre ' Lane Total ** Cost At 1 January 2024 Additions At 31 December 2024 1,232,641 151.537 1.384,178 1,232.641 151,537 1,384,178 Amortisation At 1 January 2024 Charge for year At 31 December2024 228.969 24.653 253,622 151,537 380,506 24,653 405,159 151,537 Net Book Value At 1 January 2024 At 31 December 2024 1,003,672 979,019 1,003,672 979,019 The ChUh centre was completed during 2014. The cost represents the sum expended on construction work, consulting engineers costs and architects fees during the build. The buildingsare being depreciated over a 50 year period. The original cost of the freehold property at 4 Tynings Lane was £142,000 plus legal fees which were charged to revenue. The cost was financed through a loan from The Royal Bank of Scotland amounting to £106.500, a contribution from the Cooper & Jordan Trust of £23.000 and church funds. Through the Lichfield Diocesan Trust Aldridge PCC retain an 83 % interest and the Cooper & Jordan Trust a 170h interest. During 2007 the original loan was wound up and the balance transferred to a new loan which included an additional advance of £9537 together with a £1776 arrangement fee. The additional advance was to assist with the refurbishments at 4 Tynings Lane and was fully repaid during 2022. 2024 2023 Debtors Income Tax Recoverable Other Debtors and Prepayments 23,512 3,410 21,875 1,529
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE NOTES TO THE FINANCIAL STATEfiiENTS continued FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 LIABILITIES Creditors Taxation and Social security Grants Accruals 1,206 3,544 12,485 17,235 2,388 5,181 25,078 32,647 FUNDS Unrestricted Funds Parish Church St Thomas St Ma s Other Church Mission Totsl General Designated 93,450 27,858 47,018 12,678 7,000 6,206 140,192 54,018 Balance @ 31112124 93,450 74,876 19,678 6,206 194,210 Details of Designated Funds Carried Forward: St Thomas Church ITIAV Fund Russell Legacy Network Trust Tom's Toddlers Buildlng Fund 2,468 41,597 1.023 1,930 7,000 Tynings Lane Church Restricted Funds Parish Church st Thomas St Ma Church Mission Total Balance @ 01101124 Received in year Allocated in Year Transfer belween funds 1,039,666 122,569 -134,714 400 7,711 13,763 ,726 620 2,282 17,273 -19,426 2,881 1,049,660 153,605 -160,867 3.901 Balance @ 31112124 1.027,921 15,368 3,009 1,046,299 12
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE NOTES TO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31ST DECEMBER 2024 Details of Restricted Funds Carried Forward: Parish Church Organ Fund Tower Fund 3,063 3,563 28.875 979.019 5,075 8.326 1.567 13.801 3,010 ChurGh Repairs Church Centre Fund Church Weekend Fund other Funds St Thomas Mission Funds Other Funds House Account Children's Worker St Marfs Mission Tynings 1,046.299 Restricted funds are represented by- Tangible Fixed Assets Current Assets less Creditors 979,019 67,280 1,046,299 2024 2023 Staff Costs Wages and Salaries Pension Costs Social Security costs 156,787 3,096 9,211 169,094 188,476 3.140 9,508 201.124 During the year the PCC employed five lay workers, three administrators and playgroup workers, none of whom eamed more than £60,OOOpa. None of these were entitled to vote at PCC meetings. The following amounts were paid to reimburse expenses.. Rev S Doel Rev J Morley Rev D Sims 1,278 312 816 There were no other disclosable transa¢tions. 10 Capital Commitments There were no capitsl commitments at the year end. 13
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE NOTES TO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31ST DECEMBER 2024 SOFA Comparatives Unrestricted Restricted Fund5 Funds TOTAL FUNDS Incomin Resources Voluntary Income Direct Giving Grants Received 312,283 38,058 88,757 114 31.679 11,400 343,962 49,458 88,757 114 Events & Activities Activities for Generating Funds Other Ordinary In¢ome Trading Income Investment Income 3,609 28.047 1.567 472.435 1,283 4,892 28,047 1,649 516,879 82 44.444 Resources Ex ended Grants for Mission 31,990 98.156 490 2,331 16.646 34,321 114,802 490 Lay Ministry Support Costs Costs directly relating to the work of the church Events and Activities Tynings House GovemanGe Costs 243,129 87,224 32,378 290 2,234 275,507 87.514 2,234 3.400 3,400 Church Management and Administration 32.073 146 32.073 146 Trading Costs Costs of Generating Funds 20 20 496.628 53,879 550,507 Net movement in funds -24,193 -9.435 -33.628 Total Fund brought forward at 0110112023 190,827 1,060.378 1,251,005 Transfer beeen funds 1.283 -1,283 Total Funds carried forward at 3111212023 167.717 1,049,660 1,217,377 14
PAROCHIAL CHURCH COUNCIL OF ALDRIDGE NOTES TO THE FINANCIAL STATEMENTS continued FOR THE YEAR ENDED 31ST DECEMBER 2024 12 ACCOUNTING POLICIES The nature of the charity's operations, constitution and principal activities are described on page 1. The financial slalements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011 and UK Generally Accepted Accounting Practice. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared lo give a'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fair view.. This departure ha5 involved following the Accounting and Reporting by Charities.. Stalememt of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsnd8rd applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been wthdrawn. The financial statements are prepared on a going cOnM basis under the historical cost convention. The accounts are presented in sterling. which is the functional currency of the ¢harity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all years presented unless otheiSe ststed. Funds General funds represent the fvnds of the PCC that are not subject to any restrtctions regarding their use and are available for application on general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. The accounts include all transactions. assets and liabilities for which the PCC is responsible. Incomin Resources Voluntsry income and capitsl sources Collections are recognised when received by or on behalf of the PCC. Income lax recoverable on gift aid donations is recognised when the income is recognised. Grants and legacles to the PCC are accour5ted for as soon as the PCC is notified of its legal entitlement and the amount due. Funds raised by activities and events a a¢counted for gross. Other ordinary in¢ome Rental income from the letting of church premises is recognised when the rental is reived. Income frorn inveslJnents Interest is accounted for when receivable. Resources used Grants Grants and donations are accounted for when awarded. including Ihose Committed at the year-end. Activities directly relating to the work of the Church The Diocesan Parish Share (Parish Ministy) is accounted for when payable. Fixed Assets Consecrated land and buildings and rnovable church furnishings Consecrated and beneficed property and furnishings are excluded from the accounts under s.10 of the Charities Act 2011. No other items of significant value are known to be owned by the Parish. Freehold Property The church ntre 15 beneficially owned by the PCC. Costs will be depreciated on a straight line basis over 50 years. The freehold propety 4 Tynings Lane was purchased during 2003 is now fully depreciated. Current Assets Amounts owing at 31st December 2024 in respect of fees, rents or other income are shown as debtors less provision for amounts that may Prove uncollectible. Short teTm deposits include cash held on deposit at the bank. Related arties Jenny Doel, the wife of Irltstee Rev Steve Doel, was employed during the year as church lay wother in accordance with normal prOdureS and pay rates. Rev Doel was not Involved in approving the temis of the appoirslment. 15