Annual Report and Financial Statements of the Parochial Church Council of Walsall St Matthew Registered Charity number: 1148805 st For the year ended 31 December 2022
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MArfHEW'S WALSALL CHARITY COMMISSION NO. 1148805 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022 The members of the PCC hav¢ ple&sure in presenting their annual report and financial staternenls for the year ended 31" D¢¢¢mber 2022. Objectives and Activities The Parochial Churoh Council of Walsall St Matthew (the PCC) has the responsibility of co-operating with ihe inCubeI, the Reverend Jim Trood, in promoting in th¢ ecclesiastical parish, the whole mission of the Church, pastoral. evangelical, siKial, and ecumenical. The PCC is also spiritually responsible for the maintenance of the church. The PCC is cornmitted to enabling a5 many people as possible to worship at our church and to become part of our parish ¢otnTnunity at Walsall St Matthew. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve ihe many groups that live within our parish. Our seryiees and worship put faith into practice through prayer, scripture, musi¢, and sacrament. Also. through nonsacrarnental &tiviti¢5 of h05Pltality and fellowship we aim to rea¢h non churched members of the community. Public Benefit The trust¢es of the PCC are aware of th¢ Charity Commission's guidance on public benefit in The Advan¢¢meT)t of Religion for the Public Benefit and have had regard to it in their administration of the Charity. Th¢ trustees believe that, by promoting the work of th¢ Church of England in the Ecclesiastical Parish of Walsall St Matthew it helps to prornote 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 th¢ public by.. Providing facilities for public worship. pastoral care, and spiritual, moral and intellectual d¢veloprnenL both for its members and for anyone who wishes to benefit from what the Church offers- and Promoting Christian values and service by members of the Church in and to their communiti¢% to the benefit of individuals and society as a whole. Achievements and Performance St Matthew's church oims to b¢ an 'Acts 2. church. We value awe. unity, generoshty, h05Pltality. and growth. The Lead¢rship Team has adopted a strategy more fitting to ihe ¢hur¢h and its environment.. Worshipping G¢xE Equipping His people Growing the kingdom Serving Walsall The PCC is responsible for St Marthew's C¢ntr¢ and transactions through the C¢ntre are included within th¢ financial statements. The PCC has established sub-committee& small groups and t¢ams with respon5ibiliry lo bring recommendations to th¢ PCC in ihe following areas: Personnel. Finance, Communications. Pastoral Care, Poli¢i¢s, and Church Centre Managec1rt S¢rvi¢¢. There is also a Stsnding Committee. A Leadership Team Page 2
was established during 2016 and continues to rne monthly to dis¢¢rn God's will for the chur¢h. During 2020 a church member was appointed on a voluntary basis as church building manager, with responsibility for maintenan¢¢, repairs, and insuTan¢¢ ¢laims as necessary. A team of volunteers for routine ground5 and building n)aintenance has since been recruited. Church Membership As of 9, May 2022. the number of members on the church Electoral Roll stood at 179. There were 181 in 2021. Ecumenical The PCC has representatives on the Wa]sall Town Centre Ministry partnership committee. The Rector meels monthly with the"Love Walsall" ecumenical group for a breakfast meeting to plan> pray and worship. Review of the year St Matthew's Parochial Church Council held six meetings during 2022- 24th January. 14th March, 25th April, 23rd May, l 8ih July, 26th S¢ptember, 2nd 2 1st November. St Matthew's Annual Parochial Council Meeting took place on 9th May 2022. A special joint meeting of the PCC and Olher committees took place on 14th February to discuss the staffing situation (see below). The Standing Committe¢ tnet six times; its membership Cotnprised the Rector. the Curate. Rev Joe Smith. Ihe Churchwardens. the Treasurer, the Administrator and two elected members from the PCC; Patti Lane and David Smith. In 2022 the majority of meetings were held in person. An EPCM w&8 held on 20th November 2022 to elect a replacement Churchwarden and review the audit¢d a¢counts. During 2022. all Sunday services and other weekday services and events were held in person. Staff wise.. During the year, Ben Butterfield, who was previously our Ul 8's Worker, resigned from his position to lake up new employment. An arrangement was made with Owen Entwistle to work in liaison with Love Walsall and Love Black Country to support the youth of Sr Matthew's. A team of volunl¢¢rs continued with crcche and children's work throughout 2022. and Priscill4 Trood w&s employed in autumn 2022 as children's and families worker. Kirsten Groom resigned as Administrator and Adrian Perks resigned as Church C¢ntre Manager in March 2022. The positions were filled by volunteers until July 2022 when Nancy Candlin was employed as Operations Adrninistrator on a temporary basis. In addition lo regular business the PCC received reports and discussed various issues important to the life of our church, including progress regarding the reordering of the west end of the church. known as the Legacy Project. During 2022 the Leadership Team and PCC continued to review and develop St Matthew's Mission Action Plan. As aforementioned, a new church vision has been developed focusing on worshipping God, equipping His p¢ople, growing His kingdom. and serying Walsall. It was agreed in 2020 to begin to seek God's will for the church's vision for the next five years, and this work was continuing into 2022. During 2022 the church was pleased to be able to hold the Civic Carol Service, in December, and the annual Bluecoat Schools Exhibition and Bluecoat Sunday Service earlier in the year. The church did of course Continue it5 c105e working with the local Bluecoat A¢ademy and Blue Coat FedeTalion schools, and with the Town Cenlre Ministry and Love Waisail. The PCC has continued to support mission partner5, over5¢as and in the UK. In 2022 St Matthew's supported our mission parthers; supporting the church in South-East Asi4 One by one, Child Aid (Ukraine) and Water Page 3
Aid. Home Missions we supported were Mollyollys, CPAS and Voice of Hope. Medings were held to review tnission giving and make future decisions in this restkcl. A Heritage Open Day took place on a Saturday in November 2022. Building matters The building manager with his team of volunteers continued to be resExknsible for routine maintenance of the church and grounds. The Legacy Project working group met regularly to discuss the way forward for a reordering scheme and aspects of fundraising. Due to the pandemic the Expression of Interest previously approved by the Heritage Lottery Fund for the Legacy Project was withdrawn. A new application will need to be made when funds b¢com¢ available again but in the meantime a F¢asibility Study has be¢n carried out and discussions are under way with Walsall Council and oiher organisations. Financial Revieiv and Reserves Policy li is PCC policy to try to maintain a balance on free reserves (net currenl as5eis) io ¢quate to at le&st three months unrestricted paym¢nts. This is equivalent to £32.927 (2021.. £38,811). It is held io smooth out fluctuations in Cash flow and to in¢¢t emergencies. Net Current Assets at year-end were £101,599 (2021.. £132,007) and the balance of free reserves was £33,193 (2021.. £22.788). Fr¢¢ Reserves are broadly in line with the target. If necessary, the PCC have agreed to utilise some of the desi8nat¢d reserves to ensure sufficient funds are available to m¢¢t current liabilities. As at the year-end these reserves were £42,306 (2021.. £nil). Investment Policy The charity is granted power to invest in suitable investments under th¢ PCC Powers Measure 1956 and th¢ Trustees Act 2000. As a charity. the TTUStees have a duty of care to take such advice as is appropriate befor¢ investments are undertaken. This advice is soughi from the C¢ntral Board of Finan¢¢ (CCLA) in London. The charity's investment policies are based on two key principles.. Ethical Investm¢nl - this includes ensuring that investments are held in companies which have high standards of corpornte governance and a¢1 in & responsible way towards stakeholders. Long-term responsibilities the trustees are awa of their long-terni responsibilities in respect of the Restricted and Unr¢stri¢ted r¢s¢rves and as a result follow a prudent approach to investment decisions. Investment policy for long-lerni funds is aimed primarily at generating a sustainable income, with due regaTd to the need for the preservation of capital value, and th¢ possible need to realise investments to meet operational needs. The charity does not have a policy of generating in¢ome at exeessive or high risk known as "purchasing income" where high ietums are guaranteed at ihe exp¢nse of capital. In summary, the charity has an overall policy to maximise income while preserving the rea] value of its funds. t)uc to the nature of the charity, an ethical investment policy is taken inio consideration when investments are made.. The charity follows the Ethical Investtn¢nt Advisory policy as recommended by the Lichfield Dioces¢ which includes the following: -w¢ aim to invest in companies that.. will develop their bu5ine55 in the interests of shareholders- * demonstrate responsible employment practices., are conscientious conc¢ming issues of corporate governan¢e. the environment and human rights. ar¢ s¢nsitive to the community in which they operate." Plarujed giving, collections and donations are the main sources of fund rdising along with lax r¢¢overable. Page 4
Safeguarding The PCC believe they have fulfilled th¢ir duty under section 5 of ihe Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to House of Bishops. guidance on Safeguarding children and vulnerable adults). Risk Management The Church Ward¢ns ¢arry out regular Health and Safety Reviews and regularly inspect preTnises for potential hazards. We have safeguarding policies in place for child protection and for work with vulnerable adults. including rigorous DBS checking of staff and volunteers. Our insurances are reviewed annually to ensure adequate cov¢r. An inforn)al review of any new risks which may impa¢t ihe work of the Church in the Parish is ongoing. Structure? governance and management The PCC is a Body Corporate established by the Church of England (PCC Powers Measure 1956, and the Church Representation Rules 2006) and is a Charity regist¢red wsth the Charity Coinmission. The PCC is governed by the Parochial Chur¢h Council Powers Measure (1956) as amended that cam¢ into effect on 2nd January 1957, and the Church Representation Rules {contained in Schedule 3 to Éhe Synodical fjovernent Measure 1969 as amended). The method of appointment of trustees is set out in the Church Representation Rules. The Council comprises th¢ Incumbent, the Curate, the Chur¢hwardens, the Leader of the Asian Congregation, those elected to ih¢ Deanery Synod. and other members who are elected at the Annua] Parochial Church Meetin& by those on the Electoral Roll. The PCC members receive Iraining from courses run by the Diocese. All ¢ligible Church attendees are encouraged to register on Ihe Elccioral Roll and stand for election to the PCC. The PCC member5 are responsible for making decisions on all matters of gen¢ral concern and importance in the parish, and for all financial matters. Si Matthew's PCC has ihe responsibility of co-operating with the Incumbent in promoting in the eecle5iastical parish the whol¢ mission of the Church, pastoral, evangelistic, social. and ecumenical, and in so doing to promote its mission stal¢ment. Related Parties Donalions from related parties during the year to(alled £17.784 (2021.. £10,334)- All these donations were received without conditions. During th¢ year a wif¢ of a trustee wÉts paid £1,143 in her role as a Children's and Families work¢r. The trustee left the PCC tneeting when his wife's employment was discussed. Reference and Administration Inforniation St Matthew's church is situaled in St Matthew's Close, Walsall, WSI 3DG and is part of ihe Deanery of Walsall. in the Diocese of Lichfield. It is a registered charity.. Charity number 1148805. The correspondence address of the church office is St Matthew's ChuTch Centre, St Matthew's Clos¢. wals1, WSI 3DG. Page 5
The trustees. members of the PCC, who have seryed from I, January 2022 until the date of this rew)rt, were as follows.. Ex-ojfico members.. Incumbenl.. Rev. Jim Tro (Chainnan) R¢v. Joe Smith Curole Le4der olAsian Con Adil Burke Wt7rdens.' Diane Edlin l& Se¢retary from 313122 (ele¢ted from 915122 to 15151231 Anna Tomkinson {eleeted from 915122 to 1515123) {elected from 915122 to 1515123) (elected from 1515123 to APCM 2024) (elected from 2415121 to 915122 and elected from 1515123 to APCM 2024 (elected from 915122 to 20111122} {elec¢ed from 1515123 to APCM 20241 Alyson Grcen Daniel Barker Judith Ridgway David William5 Bet] Butterfield Repruell141iwe on Ilie Diocesan Synod.. (Jame5 Clayton) aka Jimm R¢nnie (elected from 118121 ro 118124) Representativ on ihe De&nery Synod.. Patti Lan¢ (elected from 1515123 to APCM 20261 {¢lected from 210120 to 1515123) (elected from 1515123 to APCM 2026) (¢l¢¢t¢d from 20110120 to 16151221 (elected from 1515123 to APCM 20261 {James Clayton) aka Jirllm Rennie Sue Webster Philip Hod8kinson Diane Edlin Elecled members." Fola Olorunselu- UKMEIGMH advisor {¢o-OPta from 1217121 to 915122) Richard Groom (elected from APCM 2019 to 915122) (elected from APCM 2019 to 915122) (elected from APCM 2019 to 915122) (elected from APCM 2019 to 9151221 {elected from 20110120 to 1515123) Pat Blewitt Hannah Dallaway St¢v¢ Hom¢r Beth Ray Poge 6
Graham Hird (elected from 20110120 10 1515123) {¢l¢cted fron) 20110120 to 15151231 {¢lerted from 2415nl to 15151231 (elected from 2xV5121 to 15151231 Nsgel Dutton Lauren Parker Patti Lan¢ John Edlin (Building Manager & ut warden Matthew Griffin (¢le¢ted from 241512110 APCM 2024) (elected from 2415121- resign¢d 915122) (casual vacancy till APCM 2024) {electrd from 915122 to 1515123) (elected from 915122 10 APCM 2025) lel¢¢ted from 915122 to APCM 20251 (elected from 915122 then warden from 20111122} Judith liidgway David Smiih Neal Sto¢k]ey Daniel Barker David Hunt (Interim Treasur¢T & Gift Aid Secre (co-opted froTll 2514122 to 1515123} Officers of the PCC Treasurer-. Adrian Perks- until 1113122 Finance Officer.. Alyson Green- from 1515123 Gift Aid Secretary.. David Hunt - until 2514122 a1 from APCM 2023 Secretary.. Kirsi¢n Robson- until 31312022 Operations Admini5tTator.' Nancy Candlin- from 18n122 Deputy Church Warden.. Paul Dayico Names and addresses of advisers Bank Lloyds Bank. The Bridge, Walsall IDYes(mellt Managers CCLA, l Angel Lane, London. EC4R 3AB Indep¢ndettt Eiaminer Jonathan Hill, Lichfield Diocesan Board of Finan¢e, Li¢hfield WS13 7LD Approved by th¢ PCC on ..... 3.epF..e.fr&y ........ 2023 and signed on its behalf by.. Signature.. Signature: ..... Natn¢'. Nam¢'. Position.. Position.. Page 7
Independent Examiners Report to the trusteeslmembers of the PCC of Walsall St Matthew Registered Charity No 1148805 I report on the accounts for the year ended 31 sl December 2022 whi¢h are set out on th¢ following pages. Respective responsibilities of the Trustees and Independent Examiner Thc charity's trustees are responsible for the preparation of the accounts. The charity's trustees ¢onsider thal an audit is not required for this year under Section 144 of th¢ Charities Aci 2011 (Ih¢ Charities A¢t} that an independent examination is needed. li is my responsibility to examine ihe 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 145{5)(b) of the Charities Act, and to state whether particular matters have come to my attention. Basis of Independent Examiner's Slatement My examination was carried out in acrordance with the General Directions given by the Charity Commission. An exarnination includes a review of the a¢¢ounting 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 con¢eming any such tnalters. The procedures undcrtaken do not provid¢ all th¢ ¢vid¢nc¢ that would be required in an audit, and consequently no opinion is given as to whether the a¢¢ounts present a "tru¢ and fair" view and the pOrt is limited to those matters set out in the statement below. Independent Examiner's statement In connectio¥k with my examination, no material matters have Com¢ to my attention whi¢h 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 accounting records the accounts do not ¢omply with ihe applicable requirements concerning th¢ forn) and content of accounts sel out in the Charities (A¢¢ounts and Reports) Regulaiions 2(M)8 oiher than any requirem¢nt that the accounts give a true and fair view which is not a matter Considered as part of an independent examination. I have come across no other matters in connection wilh the examination lo which attention should be drawn in OTd¢r lo enable a proper understanding of the accounts to be reached. 2910912023 Sign¢d. Date.. Jonathan Hill FCMA CGMA Lichfield Diocesan Board of Finance Sl Mary's Hous¢, The Clos¢, Li¢hfi¢ld WS13 7LD Pogg 8
The Parochial Church Council of Walsall St Matthew Financial Statements for Ihe Year Ended 31" December 2022 Accounting Policies The PCC is a public benefit entity within the eanIng of FRS 102. The financial statements have been prepared under the Charities A¢1 2011 and in accordance with the Church A¢¢ounting Regulations 2006 goveming Ih¢ individual accounts of PCCS and with the Regulations true and fair view. provisions. They hav¢ a150 beeTr prepared in accordance with the Charities SORP (FRS 102) The financial slatements have been prepared under the hisiorical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statemenls in¢lude a]1 transactions, assets and liabilities for which the PCC is responsible in law. They do not include th accounts of church groups that owe their main affiliation to another E4)dy nor those are infomal gatherings of Church members. There may be minor discr¢pan¢i¢s in the totals as the pence are not being shown. Cashflow Statement Th¢ rharity has takcn advantag¢ of the exemption in FRS 102 from the requiremenl to produce a cash flow statement on the ground5 that the income does nol exceed £500.000. Going Con¢ern There are no material uncertainties related io events or conditions that cast significant doubl on the charity's ability to continue as a going concern. The PCC are aware that they are reliant on the regular giving income and have plans in place were this to reduce significantly. Accounting Estimates and Prior Year Errors No changes to accounting tImateS have occurred in the reporting period. No material prior year eTrors have b¢¢n identified in the reporting period. Description of Funds Unrestricted Funds are income funds of the PCC that are availabl¢ for spending on the general purposes of the PCC, including atnounts designated by the PCC, for fixed assets for its own use or for spending on a future Project and whieh are therefore not in¢lud¢d in ils 'free reserves, as dis¢los¢d in the trustee's arlnual T¢POrt. Restrict¢d Fund$ comprise of two elements.'- a) Income from trusts or endowments which may be expended only on those restricted obj¢cts provided in the iernis 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 specified object for which they were given. Any balance remaining unspent at the end of each yeaT must be carried forward as a balance on that fund. Th¢ PCC does not usually invest separately for each fund. Where there is no separate investment. interest is apw)rtioned to individual funds on an average balance basis. Income Planned givin& collections and donations are recognised when re¢¢ived or when the PCC becomes entitled lo the resource and the monetary value can be measured with sufficient reliability. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and Legacies are accounted for wh¢n the PCC is l¢ga]ly eniitled to the amounts due and the mon¢tary value can be measured with sufficient reliability. Page 9
Dividends are accounted for when re¢eivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are account¢d for gross. Expenditure Grants and donations are accounted for when paid over, or when awarded, if that awird creates a binding or constructive obligation on the PCC. The diocesan coinmon fund payment is accounted for when due. Amounts received spe¢ifi¢ally for mission are dealt with as restricted funds. All other expenditure is generally Tecogni5ed when it is in¢urr¢d and is a¢¢ount¢d for gross. Governance and Support Cosls Support costs should be allocated between governan¢e costs and other support. Governance costs comprise all costs involving public accountability of the PCC and its Compliance with regulation and good practice. Support costs in¢lud¢ Central fun¢tions and have been allocaied to a¢tivity cosl categories on a basis ¢onsist¢nt with the us¢ of resources. eg by allocaling staff costs by time spent and other costs by their usage. Fixed Assets Consecraied and benefice Property i5 not in¢luded in Ihe accounts by s.10{2)(a) and (c) of the Charities Act 2011. Moveable church furnishings held by the rector and churchwardens on special trust for the PCC and which rcquire a faculty for disposal are inalienable property. list¢d in the church's invcnlory, which can b¢ inspe¢t¢d (at any reasonable rime). For anything a¢quired prior to 2000 there is iUffIcient cost information available and therefore such assets are noi valued in the financial statements. No depreciation is provided on buildings as th¢ currently estimated residual value of the properties is not less than their carrying value and the remaining u5cful life of these Sets exceeds 50 years, so that any depre¢iation charges would be immaterial. The freehold building comprises the original Youth and ComTnuniry Centre cotnplex, which was originally valued by the PCC at I" January 1997 at £60,000 bed on approximate rebuild cost. Additions since 2003 have been the cost of refurbishing the original complex and converting it to the St Matthew's Centre. In the opinion of the PCC this should be valued at its approximale rebuild cost of £834,234. See pag¢ 19. Investments Investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at market value at the year end. Investments held for r¢-sa]e are treed as ¢urr¢nt asset investments. Debtors Debtors are measured on initial recognition at s¢ttleTnent amount. Subsequently they are measured at cash expected io be received. Creditors and Accruals Creditors are measured at settlement amounts IS any trade discounts. Accruals are tneasured on best estimate of the amount required lo settle the obligation at the retK>rting date. Page lo
The Parochial Church Council of Walsall St Matthew Financial Statements for the Year Ended 31. December 2022 Statement of Financial Activities Ullre5trictcd Designated R¢stTlCt¢d Endownjent fund5 fundy funds funds Total Prior year fund5 total fund$ In¢om¥ •nd gndowrnpnt¥ Irorn.. Donations aDd legac4es Inctyn8 from LatrtabkxtMtos Otherlrading athitie5 Inve5trnen Other Incorne Total Income 120,679 3,3S4 31,59 26,528 147.105 3.354 31.599 1,387 132.548 21.527 478 2.457 15B,901 10.722 37,249 7.279 162,249 196,626 Exp9ndlurn on: Raisiw funds Exwditure on Ghanlable xlivities OlhErfxpEndilure Total e%pBndliure 1.992 128.1 1.892 153.e28 20.457 17$,Q77 15901 183,126 1,280 24,140 18849 42,989 131.709 1,380 185,852 Net Incrffiellexpen(Aturel r050urces bBfore tAnifer 27.193 19061 16,7401 20.$47 123.6041 TranBfors bgrwwfft fund• othor rn¢0gnl•ed g•ln•l los$e$ G•n$l l(WqS Dn Inve8lmenl 3583 Net mov•méntln ftsnd$ 116,78n 53,728 136,9Jg1 8.650 44,171 8.650 11,897 10,406 142.6791 123,6041 Tot•1 tund8 broughtfonvwd 22.788 832,570 111,008 To¢•1 fvnd8 ¢arrltd fOard 978139 R•rwni•d by UnrEstCted GWer fund 22,788 22,768 Otsignatod CetrtR BuiPJing Des¥Jnate Buildkng Desfjnaled Coffmunity SupFlWork 834.234 834,234 11.8641 42.306 876.S40 832,370 R•strfcted Building Regtdded Chlldpn And yOh Wothw Resir Church W8kend R8¥irthd Community Day Resiricted Community Supth Work Daed Toilet Re51ncted Fknwer Fund Re51ncted Inlenor Decornthng Scheme L8gacylRs-Ordortng Restwed Fund R*stri(aed Fund Safer Sl Matthv4 Tower Restnckn S2,3ts7 53.387 55.123 18.401} 169 4,472 47,27T 008 (2MI 4.722 4.722 607 310 1.690 2.046 315 607 310 1.Q90 2.046 315 5.se6 1,53$ 3B18 86.405 88 405 111.088 Tow tsnd 978 139
The Parochial Chureh Council of Walsall St Matthew Financial Statements for the Year Ended 31" December 2022 Balanee sheeÉ Prior tar funds Flxed os? Taroible asgds Inbts 834,234 42,3C B76,540 834,234 834.234 ¢uYrent sets 02btor5 Investments Cash al bank hand 6.873 1,4 132.039 140.316 102 974 107,380 LlablllU Credrfors AnIS lalllng Year 5,780 5,no 8,3Q7 &307 Pl•t ¢uwrent al8el8 I? ¢uwrent Ilalylli11•8 101,599 132,tr)9 T¢)ts1 •88•t81•88 ¢urrnnt114bilil 978,13 966.243 Total not •$8ets1088 Ilabllltl•$ R•prt9 lty Unreslrktqd Genw¥ fund- Churth GeThe fund- Centre 26.743 6.449 5,2C6 22 788 t>Fslgnat4d Building & FaknK Deggnated Community Supp Work Cenlre BLildino tksiwated 11,e64} 42.3C6 834.234 B32.370 Restrlctsd Building Reslrlcted TNer ReStrLed Children And yth W¢k8rResthded Church Weend fteslted Communty D8y R8$M84 Communty Supwrt WO Flo%¥er Fund Re5trded InleTV)r DLroraliro Stherne LegacylRtrOrdering Reslricted Fund OWLS Resirtted Organ Fund Safer Sl Mallrws tisabl2d Tolet ReslrvAed 53.367 3.816 866 641 4.7Z2 SS.123 3,406 169 4,472 47,277 12341 310 1.691 31$ 506 1.535 111,086 Funds olth•chLYch Approved by the Parochial Church Council on . Signathre...T..kJ.....J.ftJ.~..J..................... 2023 and signed on ils behalf by.. The notes on the following pages forn) part of these &¢¢ounts Page 12
The Parochial Church Council of Walsall St Matthew Financial Statements for the Year Ended 31Yt December 2022 Analysis of Funds- 2022 Gtneral D¢s nated Restri¢ttd Endowm¢nl This ear Last Flwd 865•ts. Investmqnts CF Properly Fund- C01F El1 Fu- 39.870 39.670 Total 41306 42AQÉ Flxed asg-Tanglblo 489 Sl Matihc. 834 234 834,234 Total• 134.234 634,234 Currwt a88•11- C•sh •t bank•ntl In hAnd No 1 Bank cutrenl acuJunt- Centre RevenUeAccnt. No 2 Bank No 2 Bar account- ¢eTht Mwntwarto Accwni. Interior DEwrating stht- 25.131 66.78B 91.920 9,3fj2 12.646 47.387 128n 1890 Tot•l 494 102.974 132,039 cu1r1 aiaot8. D•bt(¥8 Aceourts R8¢•vabft. 2.987 2.987 2.987 1987 Tot¥18 6173 CurTent asset5. Investfflerts OIF derxxrt wount- 810 810 607 607 1.403 1.403 Totsls 1,411 LlabIllt5-A9oncY a£Unts A9ew AlOnS- 661 661 4673 4.873 Total U•blllbes-Cr2dlt)rn- Amounls f•lllngduè In year L6 recved. Atcount5 Payatle- 108 4901 5,099 198 3634 3.634 Totsl8 5.099 Crnnd total Fund movement by type- 2022 eni Intomin oin Transfers Gains11055¢$ Clwln 8ulldDo$- Bullthng & Fabrf¢ D• Desnated 8ub40t41 Ic 8ulldD•¥ 11,8641 1,280 3,245 BulldR06- 81[n9 e5cled Resinct 11 842 11,842 99SO 9.9$0 3.628 13.6281 Su11 forblRa1 56.12J 63,387 CSW- Communlty Supportwo DeSnated 476 476 Sub40t81 lor CSW 50,481 18.6501 CSW- commuthty &Jpp(tWo 47 277 47.277 Sub40t*l foiCSW 147,Z77} eentr•. C•ntrn Bulldlng D4s1 De$YJn8ied SutAotsl forC¢rrtro 834.234 Page 13
C(bmmunlty. ¢ornmunKy Day Reitri Re5thCt 4472 4N7Z 4.722 722 S40tal for Cornrnunlty 2$9 Flth¥er. Flower Fund R•strf¢t Re¢t¢0 234 12341 25 15 1.303 1.303 1.822 1,822 310 310 SutrAotsl fc< Flwhyr Genpral- Gqnwal luthd UnreslrKted 22.788 22,788 158.901 158.901 33.194 33,194 Sub41rt81 for GetTal 131,709 116.4871 IDS. Intsrfor Drfornung Reslnct&l 250 2SQ 500 500 1891 1.691 $ub4otal lor IDS a¢y. LqgXYIRtrOrdfyy R Re81[ted 17520 17,520 $ub40tsl forLe8acy 6,567 14,0 IQ47 OVILI. Reitrfthd Reslncted 1.281 1.261 1 248 185 18$ 315 315 Sut01 lor OVLO Oryaft. Organ Fund 40 762 762 218 216 Sub40tsl fororyan 506 Safor- Safvr Sl M&tthth¥s Rèsbi¢1od 1.s35 1.535 {1W51 Sub4otal for$alor Toddler-Tod(l•r Restri¢ied e50 650 1.508 Sub-tthd foTTodther Z,1S8 Tollot- Dl&abbBd Tollot Rost Sub40tal forToll•t Tower-TowerRestrtcted Re8lnc 322 332 33 (23$) S•t11 forTowor 3.B16 U18'8 Fund- Chlldr4n And Youth W Resirfthd 868 S40tal for U18's Fund 11,401 6A19 11,202 14,052 We••nd. ¢hur¢h liestr Reslnctsd 169 169 872 672 200 200 641 841 $ub4otal lorW••kend Grand total 176 077 Fulld Des¢ription$ U18s Fund Safer St |Matthews Fund Toddler Fund Building Restricted Fund CSW Community Support Legacy/Re-Ordering Fund Flower Fund Organ Fund OWLS Fund Tower Fund To support Children and Youih work in ihe parish Work to irnprove Church building security Work with Babies and Toddler Groups For ihe maintenance and upkeep of the fabric of the church For Local Parigh Mission projects For the Church Re-ordering Proj¢¢t For Flowers in Church For Organ related expenditure Older and Wiser - Group foT the over 65s Tower and Bells and related expenditure Page 14
Inierior Decorating Scheme Weekend - Church ComJnunity Day Disabled Toilet Building & Fabric Designated For the inierior decoration of the vicarage Donations and cost5 relating ro ih¢ Church Weekends away Funds received and paid out for the Church Community Day For the installation of a disabled toilet Various historic lega¢ies designated by the PCC towards the rnaintenan¢e and upkeep of the church fabri¢ Th¢ value of the Church Centre Centre Building Analysis of material transfers between funds Unrestricted Restricted Total Annual transfer to Interior Decorating Scheme {h¢ld by diocese for use in Rectory decorations) From Tower Fund lo G¢n¢ral Fund (contribution by Tower for church heating costs) FTOtn General Fund to Flower Fund {redress negative value of Flower Fund} From General Fund to U18 Fund (maintain balance of Ul 8 Fund) Frotn CSW restricted to CSW Designated (to rectify in¢orre¢l posting in 2021) (£250) £250 £150 (£150) (£1.822) £1,822 (£13,741) £13,741 £47.277 (£47,277) Analysis of income and expenditure Total nre$tri¢ted D Reytricted Inconxe and Endowmenls DonatSons and legacleg 0101 Gift d- Bank 0110- Gfft NAd- Envetope¥ 0120- Grft AwJ- Giving Direct 0121 PaypallBraintree gi1ng 0201 - f%k)n-Gift Bank 0210- Envelope5 0301 LDose plate wllectior 0310- Asian Congregation Colle¢bon 0320- Contacuess Glving 0410- Giving through thurth boxes 0501 -0Grft Nid9rfts 0550- Donations appeals eic 0601 - Tax recoverable on Gift Ak1 0701 Legacies 0801 - Recurring grant8 08AI - Non-recurring one-off grants 0901 . Other fuThJs generated 0902. OWLS colleclior 0903- Slay & Play incorne 60.836 2.592 234 108 5.141 1.059 4.215 2.220 3.960 21 892 10,402 18,344 5,250 60,836 2.592 234 106 5,141 1,059 4.215 2.220 4.000 21 892 11,731 18.344 5,250 6,419 18.252 2.506 1.261 2.023 147,105 64.421 189 1.255 97 6,790 561 5,685 4,577 45 146 8,675 17.903 15.304 1,329 6,419 14.250 1.205 1.261 2.023 28.526 4.002 1.301 6,388 525 Totsi 120,579 132,548 Pdge 15
Income from charilable activitie¥ 1101 Fees forweddings and funerals 3,354 3.354 893 Total 3,354 3,354 893 other tradlng actlvltles 1236- CenlQ Incorne- Projelaor 1238- Centre Income- Olher 1240- Cenlre Income- Cenlre Oonalion 1242- Centre Income- Maln Hall ire 1244- Centr8 Incom8- Lower H811 Hire 1246- Centre Irthme- Blue Room Hire 1248- Centre IncoTh- Millard One Hire 1250- Centre IncoTne- Green Room Hire 37 59 180 100 300 100 300 22,116 22.116 16.188 3,178 3,178 2.451 5.798 5.798 2.305 210 108 108 Totsl 31,599 31,599 21.527 Inv•stmènt# 1001 tividerKI$ 1020- Bank and building sotiety interest 471 440 476 440 Total 476 1.387 Other Incom• (02- Tax recoverab on VAT 0881 Feasibility Study Grants 0905- Kickstarter Income 0911 - Weekend Away income 1310. Insurance claim5 1320- Transfer trom Centre 5.722 5,000 5,722 5.000 2.539 4,000 2.450 2,450 839 100 7279 162.249 Total INCOME TOTAL 2457 158901 10,722 13.179 196 625 475 Expenditure Ralsing fvnds 1730- Costs offeles & olherevents Total 1.992 1,992 590 15901 1,992 Expendlturg on charltablg a¢tlvltle$ 1801 - Overseas Charitabk Giving 1850- Home mi55ion 1880- Churth Weekend outgoings 1910- Common Purse 2001 - Assistant staff costs 2050- Salary ofAdministrator 2055- Salary oforganisl 2060- Salary of U18s 2065- Salary of Kids Worker 2070- Salary - Centre Manager 2075- Salary- Admin Cost 2101- Expen8es- Rector 6.292 3,920 6.292 3.920 200 28,245 204 13,7J8 3,130 10,102 578 5.766 85 959 8.972 200 28,245 204 13.736 3.130 e6.304 10.202 451 21,466 10.102 578 5.766 65 959 20.172 300 1,228 Page 16
2110- Expenses- Curate 2115- EMpen8es- U188 2118- Expenses- Centre Manager 2150- Recto¢s- telephone 2170- Educglion 2201 Parish training and mission 2301 . Church wnnin9- insurance 2310- Church Office- lephOne 2315- Church Internet- BT 2320- Organ luning 2330- Churd) maintenance 2331 - Churth Cleaning 2360- Churd) Office Cosis 2365- Church Printing costs 2380- sUbsp0ns & LICenS 2401 Church running- el8CtrKty 2410- Church running- gas 2420- Church running- water 2501 . OWLS Costs 2525- Centre Running- Catering Supplies 2530- Centre Running- eledrityty 2540- Centre Running- gas 2550- Centre Running- insurant 2560- Cenire Running- Centre & Garden mainlen 2562- Centre Running Caning contract 2564- Centre Running - other eaning Costs 2566. Centre Running- refuse ¢olleclion 2568- Centre Running- Other 2570- Centre Running- office ¥1$ 2580- Centre Running- water 2590- Cenire Running-lift rnainlenance 2701 - Churth major repairs- stwcture 2710- Ghurth maiDr repairs- instalblion 2801 - Cen1 + major repairs- slrudure 2820- Centre + major repairs- 1,039 1.039 926 1.060 544 301 1,168 7,195 471 425 796 5,747 325 2.939 2.326 4.030 2.897 7.591 203 1.183 45 213 872 30 131 575 110 6.937 471 926 1.060 544 123 1,103 7,195 471 425 35 1.994 325 2,939 2,284 3,876 2.897 7.591 203 178 65 781 3,342 494 3.495 410 3.516 2,212 4,036 2,202 5,394 234 292 60 42 154 1.183 45 2,948 3.259 2,580 3,201 2.948 3,259 2.560 3,201 1,562 755 2.493 1,851 2.577 2.577 234 234 332 833 833 793 339 820 2,076 1.743 339 620 2.076 1.743 94 273 614 297 970 1.320 2.290 2,465 5,288 5,28B 11.120 948 10.062 10.081 Total 128.108 1,380 24.140 153,628 183,126 oth•r •xpèndltur• 2080- Kickstarter Outyoings 2340- Upkeep of services 2345- Church Flowers 2650- Feasikn"lity Study Costs 164 1.384 60 164 1,409 2,163 1,153 26 1.303 17,520 17.520 Total EXPENDITURE TOTAL 1.608 131.709 3.316 185.853 1.380 42.989 176,077 GFiAND TOTAL 5.740 20.547 23.604 Allocation of Support Costs Support costs comprise Trustee Training and Governance Costs elc. Du¢ io th¢ nature of the financial activities orth¢ PCC these would b¢ allocated across Charitable Expendiiure which comprises the majority of its expendilure and as such are automatically charged there. Page J7
Staff Costs 21)22 2021 Wages and salaries Employ¢rs National Insurance Employers Pension Contribution £27,499 £2,017 £410 £62.126 £4.853 £1,288 Average number of employees During the year the PCC employed & Centre Manager. Administrator, Family Worker and Youth Worker (all part-time). There were no employee benefits for key management personnel in ihe previous or cutTeni year. The PCC uses the Nationa] Employment Savings Trust INEST) via the Diocesan Payroll Scheme, for lis pension payments. The highest paid tnember of staff earned £10,240 (2021.. £26.344 - this is much higher due to members of staff leaving mid-way through 2022). Trustees, Remuneration & Expenses and Related parties As ex-offi¢io trustees, the Recior has been paid ITavel and phone expense5 Qf £959 (2021.. £1,228) during the yeaT, and the Curate has been paid travel and phone expenses of £1,038 {2021.. £213) During the year a wife of a trustee was paid £1,143 in her role as a Children's and Families worker. The trustee lefi the PCC meeting when his wife's employm¢ni was discussed. No other payments of expenses were paid to any other PCC member or persons Closely connected to them, or related parties. Donations from related parties (PCC members) totalled £17,784 (2021: £10.334). Fees for the examination of the accounts 2022 £174 2021 £150 Independent Examiner's fee Other f¢es paid to the Ind¢pendent Examiner Page 18
Tangible Fixed Assets DesignatedFw7d Unrestricted Chwch Equipment 2022 None 2021 None Designaied Freehold Buildings £834,234 £834,234 Net Book Value at 315t De( 2022 £834,234 £834234 The f¢hOld building comprises the original Youth and Community Centie ¢omplex, which was originally valued by the PCC at I, January 1997 at £60,000 based on approximate rebuild cost. Additions since 2003 have been the cost of refurbishing the original complex and ¢onv¢rting it to the St Matth¢w's Centre. In the opinion of the PCC this should be valued at its approximate rebuild cost of £834,234. Fixed Asset Inveslments Designated Fund At Ill Jan Additionl (Di$po821} Ch4nge In mirket value At 31st D¢¢ COIF Ethical Inv¢stm¢nt Fund A¢¢umulaiion Units £2,733 (£97} £2,635 COIF Charities Property Fund In¢ome Units £48,223 (£8,553) £39,670 Total £50,956 (£8,650) £42,306 Current Assets Debtors 2022 2021 Unreslricled Gift Aid & GASDS recoverable Centre Incorne Outstanding lodgment at year end £1,004 £1,079 £1,204 £5,311 £200 Reslricled Agency Other Debtors £681 £904 £146 £12 Totals £2,988 £6,873 Page 19
Liabilities AmouDts falling due ill one year 2022 2021 Uptreslricted Accruais Other creditors Centre Creditors £648 £450 £2,810 £374 £4,451 Re51ric¢ed Agency balance5 £681 £4,673 Totals £5,780 £8J07 Page 20
The Paroehial Church Couneil of Walsall St Matthew Financial Statements for the Year Ended 31st December 2022 Prior Year Comparative Reports SOFA- 2021 kncom* Endowrnenbfmm.. DoD•tioD$ and 2.064 11.766 132.548 193.700 kncomefrom ¢thèrfiaN•aG04l1 e53 e93 2.477 Clheitrwjing 21,$27 21,527 22.975 0rInC0 4,840 2.440 7.279 Totsi Incorn• 162,249 243,2è1 Eendire RaL8in9fund$ E¥EndiIU ¢Jh¢rwendlWT• Totsi •Ap•ndltyr• N•t InEQrn• J l•>p•ThdsbJi•l i•souic+s b•loi• tr•Trsf•r 1$2.4S2 4.718 2S.957 103.126 2.794 522 3.316 848 I SS,247 4,71B 26,189 185,852 $2,171 TTin¥f•r¥.' 120.71ZI 11021 20.817
h•rrtt¢4Jnbi•dg*lnBIIJB¥•i
G&in$ADss•u on Inws6m•ntays8 N•t rnov•rn•nt lffl fvTrd• I,Y34 123,8041 31.001 Reconciliabon oflunds Tot41 fiJn+JJ broughtforw4rd 62,807 8JZ,616 104,313 919.846 951,760 Tot41 fvnds ¢•vrl•d lotwaid 22.788 832,37Q 916.243 919,141 Page 21
Analysis of Funds - 2021 General Desi n•t<d Rextricied Endowm¢Jt This egr LASt ear Flx•d 15uts-Tanglble asuots Sl Matthew5 Centre- 634.234 834,234 834.234 834 234 834,234 Totslts Currentasllets-thsh aibankand In hand No 1 Barth current attount- cent R@A¢¢nt- No 2 Bank a(Jxuni. Cenlrp MaintenanAlLn1- Int0[ Lcorabng SchErn2- 3.633 12,647 67.468 71.101 12.647 47,1 88.331 2.138 65.134 47.100 T+Jtals 16,280 115,759 132.039 156,794 CuTront ass•ts. Dot40rn Accounls Re1vaA@- 6.873 6,873 Totali 6hl6 Current as#et- Inv•stments COIF de11 aLXXUtrt- 1.403 t.403 T¢)talg LL4bUMl••-Agw¢y a¢¢ounts AgerLy 4.673 4.673 146 Toi•ls 4673 LlablllUeJ- Credttorn.. Amounts falllng In ono year Account3 PayatAe. Tota16 1,7TO 1,864 3.63$ 9J47 Grand total 882 370 Page 22
Fund movement summary-2021 Incrming Outgoing Ttan$fers Gainsnosses Fund ba13n¢s source5 resources carrieil fotward FUTh# Fund Ban$ brought forward U1W5 Fund- Chlldrai Youth Wother Rt8ln(tsd Geral- General HashIp- Hardship De519nai Gumiley- M GumL4ey Fund S8fer- Saferst matt euildRes- Buildi Restrthd CSW- comrnty Surwrt Work Legxy- LegacylRe- Ordenng Re8in¢ted FUM FICW. Fund Restiicted Organ- Offjan Fund 16.5831 8.020 21,784 13.94e 52.807 1.156 146,976 155.245 121,7491 11.1581 21788 39.443 130.4431 1.$3$ 1.689 1.53$ .123 56,6 2328 {9331 47,277 47,277 3,SSS 2.012 s,se8 11.7221 10 522 2.000 12341 1.000 70 4.300 494 292 Twr-T¢wer Restri( IDS- IntBnDrOecryating SGtteme ekend- Church kend Restrd Communty- Cofflmunfy Day Restn¢ied ToilEt- Disabw TON1 RestrLted BuildDes- Bulldlro & Fa¢ Desigrbaled Centre- Cenire Buildng Degnated 218 250 {8751 3,4 941 169 4,472 4.472 11.5481 4,718 11.864} 834.234 Total 989.048 162,249 185,$52 Page 23