Annual Report and Financial Statements of the
Parochial Church Council of Walsall St Matthew
Registered Charity number: I148805
st
For the year ended 31 December 2023

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST
MATTHEW'S WALSALL
CHARITY COMMISSION NO. 1148805
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023
The members of the PCC have pleasure in presenting their annual report and financial statements for the year
ended 31" December 2023.
Objectives and Activities
The Parochial Church Council of Walsall St Matthew (the PCC) has the responsibility of co-operating wilh the
incumbent, the Reverend Jim Trood, in Promoting in the ecclesiastical parish, the whole rnission of th¢ Church,
pastoral, evangelical. social, and ecumenical. The PCC is also spiritually responsible for the maintenanc¢ of the
church.
The PCC is committed to enabling as many people as possible to worship at OUT church and to become part of
our parish community at Walsall St Matthew. The PCC maintains an overview of worship throughout the parish
and makes suggestions on how our services can involve the many groups that live within our parish. Our services
and worship put faiih into practice through prayer, scripture, music, and sacrament. Also, through nonsacramental
activities of hospilality and fellowship we aim to reach non churched members of the conununity.
Public Benefit
The tTUStees of the PCC are aware of the Charity Commission's guidance on publi¢ 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 th¢ Ecclesiastical Parish of Walsall St Matthew
it helps to promote the whole mission of the Church Ipastoral. evangelistic. social, and ¢cumenical) rnore
effectively, within the Ecclesiastical Parish, and that in doing so il 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 ihe Church offers; and
Promoting Christian values and service by members of the Church in and to their communtties, to the benefit
of individuals and Society as a whole.
Achievements and Performance
St Matthew's church aims to be an 'Acts 2. church. We value awe, unity, g¢n¢rosity. hospitality. and growth. The
Leadership Team has adopted a strategy mor¢ fitting to th¢ chu￿￿ and its environment:
Worshipping God
Equipping His people
Growing the kingdom
Serying Walsall
The PCC is responsible for St Matthew's Centre and transactions through the Centre are included within the
financial statements.
The PCC has established sub-committees, small groups and teams with responsibility to bring recommendations
to the PCC in the following areas.. Personnel. Finance, Communications, Pastoral Care, Policies, and Church
Centre Management Service. There is also a Standing Committee. A Leadership Team was established duTing
2016 and continues to meet monthly to discern Cvod's will for th¢ church. During 2020 a church metnber wa5
appointed on a voluntary basis as church building manager. with responsibility for maintenance, repairs, and
Page 2

insurance Claims a5 necessary. A team of volunteers for routine grounds and building maintenance has Since been
recruited.
Church Membership
As of 24 May 2023. the number of members on the church Electoral Roll stood at 183. There were 179 in 2022.
Ecumenical
The PCC has representatives on the Walsall Town Centre Ministy partnership committee. The Rector meets
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 in person during 2023 23rd January, 27 March,
22. May, 17th July. 25th September, and 20 November. St Matthew's Annual Parochial Council Meeting took
place on 15 May 2023. The Standing Committee met six times; it5 membership Comprised the Rector. the
Curat¢. Rev Joe Smith (until he took up a new post in September 2023), the Churchwardens. the Treasur¢r, and
one elected member from the PCC; David Smith. In 2023 the majority of meetings were held in person and took
place on 9th January, 6 March, 26th June, 4th September, 6 November and 4th December.
During 2023, all Sunday services and other weekday services and events were held in person.
Staff wise: A team of volunteers continued with creche and children's work throughout 2023, led by Priscilla
Trood as under 5s, children's and families worker.
Nancy Candlin continued to be employed as Operations Administrator during the whole of 2023 and it was agreed
by the PCC on the 17 July 2023 to make her post pemRanent with effect from l January 2024.
On 31, January 2023, Alyson Green was employed as Finance Officer and Treasurer, and her post was made
pernianent by the PCC in November 2023.
In addition to regular business the PCC received reports and discussed various issues important lo the life of our
church, including progress regarding the reordering of the west end of the church, known as the Legacy Project.
During 2023 the Leadership Team and PCC continued to review and develop St Matthew'5 Mission Action Plan
and to set new priorities for 2024. As aforementioned, a new church vision has been developed focusing on
worshipping God, equipping His people. growing His kingdotn, and serving Walsall. It was agreed in 2020 to
begin to seek God's will for the church's vision for the n¢xt five years, and this work was continuing into 2023.
During 2023 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
its close working with the local Bluecoat Academy and Blue Coat Federation schools, and with the Town Centre
Ministry and Love Walsall.
The PCC has continued to support mission partners, overseas and in the UK. In 2023 St Matthew's supported
our mission partners" supporting Compassion UK, Red Cross, NOAD, Christian Service Union, and Embrace
Middle East. Home Missions we supported were.. Lov¢ Walsall, Church Pastoral Aid, Ablewell Advice (Black
County Food Bank), The Table, and the Children's Soci¢ty (Christingle).
Meetings were held to review mission giving and make future decisions in this respect.
Page 3

Heritage Open Days took place in September 2023. and were well supported. Bell ringing has increased in
popularity and the bell tower often hosts teams of ringers from other churches.
Building matters
The building manager with his team of volunteers continued to be responsibl¢ for roulin¢ maintenance of the
church and grounds. The Legacy Project working group met regularly to discuss the way foNiard for a reord¢ring
scheme and aspe¢ts 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 become available again but in the meantime a Feasibility Study has been carried out and discussions are
under way with Walsall Council and other organisations.
Financial Review and Reserves Policy
It is PCC policy to try to maintain a balance on free reserves (net current assets) to equate to ai least three months
unrestricted payments. This is equivalent to £40,706 (2022: £32,927) It is held to smooth out fluctuations in cash
flow and to meet emergencies. Net Current Assets at year-end were £140,567 (2022.. £101,599) and the balance
of free res¢rves was £36,189 (2022: £33,193). Free Reserves are broadly in line with the target.
If necessary. the PCC have agreed lo utilise some of the designated reserves to ensure sufficient funds are
available to meet current liabilities. As at the yeai-end these reserves were £42,090 (2022= £42,306).
Investment Policy
The charity is granted power to invest in suitable inveslments under the PCC Powers Measure 1956 and the
Trustees Act 2000. As a charity, the Trustees have a duty of Care to Éake such advice as is appropriate before
investments are undertaken. This advice is sought from the Central Board of Finance {CCLA) in London.
The charity'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 responsibilitie5
the trustees are aware of their long-tenn responsibilities in respect of the
R¢stri¢ted and Unrestricted reserves and as a result follow a prudent approach to investment decisions.
Investment policy for long-terni 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 meel operational
needs. Th¢ charity does not have a policy of generating income at excessive or high risk- known as'purchasing
income", where high r¢turns a￿ guaranteed at the expense of capital.
In summary, the charity h&s an overall policy to maxin]ise 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 Tecommended by the Lichfield Diocese which
includes ihe following:
"We aim to invest in companies that..
will develop their business in the interests of shareholders;
* demonstrafr responsible employment practices"
are conscientious concerning issue5 of co￿Orate 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.
Page 4

Safeguarding
The PCC believ¢ they have fulfilled their duty under section 5 of the Safeguarding and Clergy Discipline Measure
2016 (duty to have due regard to House of Bishops, guidance on safeguarding children and vulnerable adults).
Risk Management
The Church Wardens carry out regular Health and Saf¢ty Reviews and regularly inspect premises 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 cover. An informal review of any new risks which may impact the work of the Church in the Parish is
ongoing.
Structure? governance and management
The PCC is a Body Corporate established by the ChuTch of England (PCC Powers Measure 1956. and the
Church Representation Rules 2006) and is a Charity registered with the Charity Con]mission. The PCC is
govemed by 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 Governmenl
Measure 1969 as amended).
The method of appointment of trustees is set out in the Church Representation Rules. The Council comprises
the Incumbent, the Curate, the Churchwardens, the Leader of the Asian Congregation, those elected io the
Deanery Synod, and other members who are elected at the Annual Parochial Church Meeting, by those on the
Electoral Roll. The PCC tnembers receive training frorn courses rlm by the Diocese. All eligible Church
attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.
The PCC members are responsible for making decisions on all matters of general ¢oncem and importance in the
parish, and for all financial matters. St Matthew's PCC has the responsibility of co-operating with the
Incumbent in promoting in the ecclesiastical parish the whole mission of the Church. pastoral, evangelistic.
social, and ecumenical, and in so doing to promote its mission stat¢ment.
Related Parties
Donations from related parties during the year totalled £18,446 (2022: £17,784). All these donations were
received without conditions.
During the year the wife of a trustee was paid £3,294 (2022.. £1,143) in hei role as a Children's and Families
worker. The trustee left the PCC meeting wh¢n hi5 wife's employment was discussed. The Finance Officer
was paid £2,184 whilst serving as a trustee. she left the PCC meeting when her employment was discussed.
Reference and Administration Information
St Matthew's church is situated in St Matthew's Close, Walsall, WS13DG and is part of the Deanery of
Walsall. in the Diocese of Lichfield. It is a registered charity.. Charity number 1148805.
The correspondence address of the church offi¢¢ is St Matthew's Church Centre, St Matthew's Close, Walsall,
WS13DG.
Page 5

The Irustees, members of the PCC. who have served from l January 2023 until the date of this report, were as
follows:
Ey-offico methbers."
Incumbellt..
Rev. Jim Trood (Chainylan)
Rev. Joe Smith {resigned ioth September 2023)
Adil Burke
Curate
Leader ofAsiaA
Con
ts¢ioft
Wardens..
Judith Ridgway
Ben Butterfield
Elected from APCM 2023 to APCM 2024
Elected from APCM 2023 to APCM 2024
Daniel Barker
Elected from APCM 2023 to APCM 2024
Alyson Green
Until APCM 2023 (by agreement with the
Diocese
Anna Tomkinson
Elected from APCM 2022 to APCM 2023
Diane Edlin
Elected from APCM 2022 to APCM 2023
Represenlalive on ihe Diocesttn Synod..
(James Clayton) aka Jimm Rennie
Elected from APCM 2020 to APCM 2023
Represenlalives on the Deanery Synod..
(James Clayton) aka Jimm Rennie
Sue Webster
Elected from APCM 2020 to APCM 2023
Ele¢¢ed from APCM 2023 to APCM 2026
Patti Lane
Elected from APCM 2023 to APCM 2026
Diane Edlin
Elected from APCM 2023 to APCM 2026
Elected members..
Beth Ray
Graham Hird
Elected 2011012020 10 APCM 2023
Elected 2011012020 to APCM 2023
Ni8¢1 Dutton
Lauren Parker
Elected 2011012020 to APCM 2023
Elected from APCM 2021 to APCM 2023
Patti Lane
John Edlin (Building Manager &
warden
Elected from APCM 2021 to APCM 2024
El¢cted from APCM 2021 to APCM 2024
Judith Ridgway
Ele¢t¢d from APCM 2023 to APCM 2025
David Smith
Elected frotn APCM 2022 to APCM 2025
Neal Stockley
Elected from APCM 2022 to APCM 2025
Page 6

Daniel Barker
Elected from APCM 2022 to APCM 2025
Officers of the PCC
Finance Officer: Alyson Green- from 3110112023
Gift Aid Secretary.. David Hunt- until 3110112023, Alyson Green from 3110112023
Operations Administrator.. Nancy Candlin
Deputy Church Warden: Paul Davico
Names and addresses of advisers
Bank
Lloyds Bank, The Bridge. Walsall
Investment Managers
CCLA. l Angel Lane, London. EC4R 3AB
Independent Examiner
Jonathan Hill, Lichfield Diocesan Board of Finance. Lichfield WS13 7LD
Approved by the PCC on .
18 J_
2024 and st8ned on its behalf by:
Signature:
Signature:.... .......................
IM
Name: .. .. ................ .................... Name: .... . . .
Position:
RecTD
Position:
Page 7

Independent Examiners Report to the trustees/members of the PCC of Walsall St
Matthew
Registered Charity No 1148805
l Teport on the accounts for the year ended 31 st December 2023 which are set out on the follo￿￿ng pages.
Respective responsibilities of the Trustees and Independent Examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an
audit is not required for this year under Section 144 of th¢ Charities Act 2011 (the Charities Act) that an
independent examination is needed.
Ii is my responsibility
to examine the accounts under section 145 of the Chartties Act,
to follow the proceduTes 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 malters have Come to my attention.
Basis of Independent 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 s¢¢king 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 as to
whether the accounts present a "true and fair" view and the report is limited to those matters set out in the
statement below.
Independent 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 OT
the accounts do not accord with the accounting records
the accounts do nol ￿mplY with the applicable requirements concerning the forni and content of
accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement
that th¢ ￿COUntS 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 with the examination to which attention should be drawn in
order to enable a proper understanding of the accounts to be reached.
Signed..
Date: .
ozloil >.24
Jonathan Hill FCMA CGMA
Li¢hfield Diocesan BoaTd of Finance
St Mary's House, The Close, Lichfield WSI 3 7LD
Page 8

The Parochial Church Council of Walsall St Matthew
Financial Statements for the Year Ended 31$t December 2023
Accounting Policies
The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared
under th¢ Charities Act 2011 and in accordance with the Church Accounting R¢gulations 2006 governing the
individual accounts of PCC5 and with the Regulations trne and fair view, provisions. They have also been
prepared in accordance with the Charities SORP (FRS 102)
The financial statements have been prepaTed under the historical cost convention wtth items recognised at cost
or transaction value unless otherwise staled in the relevant notes to these accounts. The financial statements
includ¢ all transactions, assets and liabililies for which the PCC is responsible in law. They do not include the
accounts of church groups that owe their main affiliation to another body nor those that are infornlai gatherings
of Church members.
There may be minor discrepancies in the totals as the penc¢ are not being shown.
Cashflow Statement
The charity has taken advantage of the exemption in FRS 102 from the requirement to Produce a cash flow
statement on the grounds that the income does nol exceed £500,000.
Going Concern
There are no material uncertainties related to evenls or conditions that cast significant doubt on the charity's
ability to continue as a going concern. The PCC are aware that th¢y ate reliant on th¢ regu]ar giving income and
have plans in place were thls to reduce significantly.
Accounting Estimates and Prior Year Errors
No changes to accounting estimates have occurred in the reporting period.
No material prior year errors have been identified in the reporting period.
Description of Funds
Unrestricted Funds aTe Rncome funds of the PCC that are available for spending on the general purposes of the
PCC. including amount5 designated by the PCC, for fixed assets for its own use or for spending on a ￿tUre
project and which are therefore not included in its 'free reserves, as disclos¢d in the trustee's annual report.
Restrieted Funds comprise of two elements:.
a) Income from tn￿tS or endowments which may be expended only on those restricted objects provided in
the tern]s 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 year must be carried forward as a balance on that fund. The PCC does not
usually invest separately for each fund. Where there is no separate investment, interest is apportioned to
individual fimds on an averag¢ balance basis.
Income
Planned giving. collections and donations are recognised when received or when the PCC becomes entitled to
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. Giants and Legacies are accounted for when the
PCC is legally entitled to the amounts due and the monetary value can be tneasured with sufficient reliability.
Page 9

Dividend5 are accounted for when receivable. interest is accrued. All other income is recognised when it is
receivable. All incoming resources are accounted for gross.
Expenditure
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or
constructive obligation on the PCC. The diocesan Common ￿nd payment is accounted for when due. Amounts
received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised
when it is incurred and is accounted for gross.
Governance and Support Costs
Support costs should be allocated between goveman¢e costs and other support. Governance costs comprise aIl
costs involving public accountability of the PCC and its compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent
with the use of Tesources. eg by allocating staff costs by time spent and other costs by their usage.
Fixed Assets
Consecrated and benefice property is not included in the accounts by s.10(2}(a) and (c) of the Charities Act
2011.
Moveable church furnishings held by the rector and churchwardens on special In￿l for the PCC and which
require a faculty for disposal are inalienable property, listed in th¢ church's inv¢ntory, which can be inspected
(at any reasonable time). For anything acquired prior to 2000 there is insufficient cost infomiation available and
therefore such assets are not valued in the financial statements.
No depreciation is provided on buildings as the cU￿entlY estimated residual value of the properties is not less
than their carrying value and the remaining useful life of these assets exceeds 50 years. so that any depreciation
charges would be immaterial.
The freehold building comprises the original Youth and Community Centre complex, 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 converting it to the St Matthew's Centre. In the
opinion of the PCC this should be valu¢d at its approximate rebuild cost of £834,234. See page 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 re-sale att treated as current asset investments.
Debtors
Debtors are measured on initial recognition at settl¢ment amount. Subsequently they are measured at cash
expected to be received.
Creditors and Accruals
Creditors are measured at settlement amounts less any trade discounts. Accnjals are measured on best estimate
of the amount required to settle the obligation at the reporting date.
Page JO

The Parochial Church Council of Walsall St Matthew
st
Financial Statements for the Year Ended 31 December 2023
Statement of Financial Activities
Unre5trieted Designated Restrieted Endowment
funds
funds
funds
funds
Total Prior year
funds total funds
Inrome and endovm)ents from..
Donations and I￿ac￿&S
In¢ome from charitable a(*vthes
other trading athvrt*e$
Inve$irEnls
Other income
T•i¥l income
121,515
7,157
46,214
62
95
175.043
9,847
2.745
131.383
9.9)2
46,214
1,180
115
186.774
157,828
5.804
31.599
1,387
993
125
20
12.737
196,625
Exp¢nditure on:
Raising funds
Expenditure on charitable a¢*vities
Othèr expendrtur?
Totsl *xpMditUfe
4.144
157.819
863
162.826
4.144
182,435
1,146
187,725
1,992
1n,519
24,616
283
24.899
176,077
Not Inctyn4¥11gxpendltur81 resour¢•s Woro
transfer
12.217
993
112.1621
11.048
20,S47
Tran8lws
Gross transfers between funds- in
Gross Iransfets between funds- out
Other r8cognls8d galns I10sSe8
Gains I losses on investment assets
Net movement in funds
565
16.4941
6.494
15651
7.059
,0591
22.924
122,9241
1.209
12161
1.209
6,288
16,2331
11.897
Total fund5 brought forward
33.194
876.540
68.406
978.139
966.242
T¢)tsl funds carried forward
39.482
876,324
62,173
977.978
978.139
Represwtod by
UnrestriGled
Genèral fvnd
39.482
39,
33.194
De$lgNt•d
cant￿ Building Designated
Communty Support Work
834.234
42.090
834,234
42.090
834.234
42.3C
Restrfct¢d
Bullding ResirKted
hIld￿n And Youth Werker Restr￿ed
¢hur¢h weeker￿ Restrict
Communty Events Restricted
DiSab￿d Toilet Restricted
Flower Fund Restricted
Interior Decorating Schwne
L8ga¢ylRe-Ordering Reslrictsd Fund
$ Restricted
Orgon Fund
Tower Restrfrted
42.528
232
2.545
4.299
42,528
232
2.545
4.299
53.387
641
4.722
963
2,318
4,547
963
2,316
4,547
310
1.691
2.047
315
15
3,643
3,643
3.816
Page 11

The Parochial Church Council of Walsall St Matthew
Financial Statements for the Year Ended 31" December 2023
Balance sheet
Total fund5
Prior
ear funds
Flx¢d a$88ts
Tangible assets
Inve5trÉnt5
834.234
42.090
876.324
8Y.234
42.306
876,540
Current au•ts
Deblot5
Investments
Cash at bank and in hand
4,934
1.481
99.205
105,620
2,988
1,418
102974
107,380
Llabllitles
Creditors". Amounts falling due in one year
3.965
3,966
5,781
Net current assets 1888 current Ilabllltles
101.654
101,699
Total assets less current Ilabllltl88
977.978
978,139
Totsl not a550ts 1055 Ilabllwes
977.978
978,139
Roprnsented by
Unre5triGted
General fund
39.482
33,194
Doslgnat
Community Support WoFk
Cenir8 Building Designated
42.090
834.234
42.3C6
834,234
R8strlctsd
Buik1ing Restricted
Children And Youth Worker Restric
Church Weekend Reslrthd
Cemmunity Events Restricted
Flower Fund Reslrthd
Inter￿1 Decorating Scheme
LegacylRe-OrderiTrJ R8stric*8d Fund
OWLS Restricted
Organ Fund
Disabled Toilet ReStr￿ted
Tower Re5tricled
42.528
232
2.545
4.299
53.387
4.722
310
1.691
2.047
315
2.316
4.547
15
546
3.643
3.816
Funts ofthe church
977 978
Approved by the Parochial Church Council on . a8 .). 2024 and signed on its behalf by..
Signature..
Name..
The notes on the following pages fonn part of these accounts
Page 12

The Parochial Church Council of Walsall St Matthew
st
Financial Statements for the Year Ended 31 Deeember 2023
Analysis of Funds - 2023
General Desi
ted Restricted Endowment
This
L4st
ear
Fixed ass8ts- Tanglble assets
Sl Matthews Centie-
834.234
834.234
e34.234
834.234
834.234
834,234
Totals
Curront ass81s- Cash at bank and In hand
No 18ank current account-
Cenlre Re¥enue Account-
Centre Maintenance Account-
Interior Decerating Scheme-
30,312
5,190
61.388
91.699
5.190
91.920
9.363
2.316
63.704
2.316
99,206
1.691
102.974
Totals
36,502
urrent assets- Debtor?
A¢xoun15 Receivabk-
4,934
4,934
2.988
2.988
Totals
4,934
Curront assets- Invtstrn¢nts
COIF deposit arA*Urtt-
COIF Praperty Fund-
COIF Ethical Fund-
1.481
646
1,481
39,107
2,983
44.217
1.418
39,670
39,107
2.983
42.090
Totsl$
1.481
646
43,724
Llab116Ues- Agency accounts
Agency collect￿nS-
1.575
1.575
1,575
1.575
681
681
Totals
Liabilibes- Creditors- Amounts falling dua In
one yoar
Accruals-
Ac(ounts Payabk-
198
1.904
1,904
Totals
2,390
5,100
Grand total
876 324
978 139
Fund movement by type - 2023
Opening
Incoming
Outgoing Transfers Gain￿105$¢$
Cknsing
BulldR8s- Bulldlng Restrlctsd
Restricted
10,859
10,859
42,528
42.528
Sub4ot81 for BulldRe8
53,387
CSW- Cornrnunity sup￿rtWO
Oe5iqnale(I
42,306
42,306
993
993
su1￿1a1 for CSW
11.2091
42,0
Centro- Contre Building De51
DeS￿nale￿
834,234
834,234
Sub-total for Centre
B34.234
ommunity. ¢onwnunity Events Res
Re51rthd
108
108
315
13151
Sub-totsl for Communlty
4,722
4.299
Flower- Flo*r Fund RgstriGt
Re51rthd
310
310
50
398
398
Sub-total for Flower
1.OOQ
General. General fund
UDrestrided
175.043
175.043
162 826
162.826
SutAotal for General
33,194
15.9291
39.482
Page 13

ID8- Intsrfor D8cora￿ng
Restricted
1,891
1,691
125
125
500
500
2.318
2.316
Sub.totsl frtr IDS
Legacy- LOgacylR&Or￿rfng R
Restricted
2,047
2,047
2.500
2,$00
4.547
4,547
Sub.totsl tor Ltya¢y
OWL5. Olhls Rest￿cled
Restricted
315
315
1.120
1,120
100
11001
540
540
Sub-totsl for OWLS
Oryan- Organ Fund
Restricted
15
15
1.129
1,129
1.129
1,129
Sub-total for Organ
Tc*ll•t- Dlsablod Tollet Rest
Restricted
608
100
loo
546
546
Sub-total forToilet
Tower. Towèr R￿ll¢tOd
Reslri¢ted
343
368
366
150
11501
3.643
3,643
Sub-total for T0￿r
3.816
U18'8 Fund. Chlltlrnn And Youth W
R8slncted
868
6.151
8.151
232
232
Sub4ots1 for U18'$ Fund
5.1B9
Weekend- Church Weekend Restr
Reslrthd
641
641
2,745
2,745
4.668
4,668
2.545
2.545
Sub-total for We8kend
3,827
Grand total
978139
188 774
187 726
977 978
Fund Descriptions
U18s Fund
Safer St |Matthews Fund
Toddler Fund
Building Restricled Fund
CSW Community Support
Legacy/Re-Ordering Fund
Flower Fund
Organ Fund
OIVLS Fund
Tower Fund
Interior Decorating Scheme
Weekend - Church
Community Day
Disabled Toilet
Building & Fabric Designated
To support Children and Youth work in the parish
Work to improve Church building security
Work with Babies and Toddler Groups
For the maintenance and upkeep of the fabric of the church
For Local Parish Mission projects
For the Church Re-OrdeTing Project
For Flowers in Church
For Organ related expenditure
Older and Wis¢r - Group for the over 65s
Tower and Bells and Telated expenditure
For the interior decoration of the vicarage
Donations and costs Telating to the Church Weekends away
Funds received and paid out for the Church Community Day
For the installation of a disabled toilet
Various histori¢ legacies designated by the PCC towards the maintenance
and upk¢ep of the church fabric
The value of the Church Centre
Centre Building
Analysis of material transfers between funds - 2023
Page 14

ContributKin to IntervJT Decoratiry Scheme
account
ContribUt￿n to IntsrvJf Decoratiry Sehemo
aG¢ounl
Donath'on by OWLS for use ofchurch centre
IDS housekeeping
1110112023
soo
IDS
Res
IDS hou54k•eping
Tran$f&r10 genertl
11101r2023
500
General
Unr
fu
1310712023
General
Unr
Tran5ferto general
Donation by OWLS for use ofehurch cantre
fu
13107r2023
100
Res
Trèn$f&rto organ
fund
Transferto organ
fund
Tran5ferto church
weekend fund
Transfer to church
weekend fund
Tran5ferto church
weekend fvnd
Tran5f8rto
Community fund
Tran$ferto church
weekend fvnd
Transfer to
Community fund
Transfer to
Community fund
Tran5fEr to
community fund
0911112023
1.129
CorrectNe transfer
General
Unr
09111r2023
1.129
Correctwe transfer
fxgan
R•s
13111r2023
1,955
CoffectNetransf8r
Weekeno
1311112023
1.955
CoThectwe transfer
General
Unr
1411112023
1.872
Cowoctwetransfer
Weekend
Res
1411112023
65
Co￿e£t￿e transfer
General
Unr
1411112023
1,872
cO￿e£t￿8 Iransf8r
General
Unr
1411112023
CoweGtwe transfer
Community
Res
1611112023
250
Reallocation re events
General
Unr
1611112023
250
Rèallocation re events
Communlty
General
Re$
LDBF
2111112023
500
TFR FROM 6501 TO 8505. Gen te IDS
Unf
Transfer to fl￿r
rund
Transfer to flower
fund
Transfer to general
fvnd
Transfer to general
fund
Interestto correct
fvnd
Interestto ¢orreGI
fund
0111212023
1.OCKJ
ProvkBion forfiowars etc approved by PGC
General
Unf
0111212023
1.000
Provk5ion for ftewars etc approved by PGC
Fknwer
3111212023
150
Contribution fm tower fund lo church heallng
Tmr
3111212023
150
Contribution frcfn tower fvnd lo church healing
General
Unr
3111212023
38
Transfer from Gen to Toilet- 6810
General
Unr
3111212023
Transfer frorn Gen to Toilet- 6510
Res
LDBF
2111112023
500
TFR FROM 6501 TO 6505- Gen te IDS
IDS
Total
7.559
7,559
Analysis of income and expenditure
Total
UNreslricted Des.
ated
Restrieted
End0wme￿t Thi5
ear
Last
ear
INCOME AND ENDOWMENTS
Donations ond legacies
Grft Aid - Bank
Grft Aid - Envelopes
Vthite ad-hoc envelopes
Grft Aid - Giving Direct
PaypallBrainlree giving
Non-Gift Aid Bank
Non-gift aid envèlope$
Loose plate collections
Asian Congregation Collection
Contad18ss Giving
Glving through ¢hurch boxe8
One-off Gift Ai¢Y gifts
58.943
2.458
169
58,943
2.458
169
150
103
7,174
1,515
5.212
3.433
3.485
60,836
2,592
234
108
5,141
1,059
4,215
2,220
4,000
21
892
103
7,174
1,515
5,212
3.433
3.485
119
119
Page J5

Dtsnalions appeals etc
Heii18ge wojects donats'ons
Tax recoverable on Gift Aid
Tax recoverable on VAT
Legacies
Recurring grants
Non-recurring on&off grants
Feasibility Study Grants
Other funds generated
OVVLS collections
Stay & Playlyoung children itKome
Total
1,252
113
19,120
1.790
5.176
5.000
2.100
265
1,517
113
19.120
1,790
5,176
5,000
7,130
2.500
2,252
1.285
1,519
130.163
11,731
18.344
5,722
5,250
6.419
18.252
5,030
2,5(X)
193
1,285
189
9,462
2,059
2,5Cfj
1,261
2.023
157.828
1,330
120.701
Income from charitable activities
Communty choir subscriptions
Weekend Away income
Fee$ lor weddings and knnerals
463
1.360
5.234
7,057
463
4,105
2,745
2.450
Total
2,745
9,802
5.804
Other tradlng actlvltles
Con¢ert and other event admissh)n
Centre Income- Projector
Centrè Income- Other
Centre Income- Centre Donat'on
Centre Incomè- Main Hall Hire
Centrè Income- Lower Hall Hire
Centre Income- Blue Room Hire
Centre Income- Millard One Hire
Centre Income- Green Room Hire
Totsl
3.541
1381
7.106
3,541
1381
7,106
100
3(X)
22,116
3,178
5,798
21.731
8,061
2,941
1,018
24
44,336
21,731
8,061
2,941
1,018
24
44,336
31,599
Investments
Investment Dividends
Bank and building soaety inter&st
Total
578
516
62
993
1,571
391
1,180
125
125
1,387
other Income
Miscellaneous income
Transfer from centre
95
20
115
Total
INCOME TOTAL
95
172,251
20
12,352
115
185,596
993
196,625
EXPENDITURE
Ralslng funds
Costs offetes & other events
4,144
4.144
1.992
1,992
Total
4,1M
Expendtture on ¢h•ritablg activities
Overseas Charitable Giving
Home mission and charitable giving
Church Weekend outgoing$
Common Fund
Salary of Administration Asslslanl
Salary of Financè Officer
5,950
4,603
5.950
4.603
4.668
35,845
6.292
3,920
200
28.245
13.736
35,845
8,117
8.117
Page 16

Payment for Organist
Salary of U18s worker
Payment for under S's w0￿er
Salary- Operations adminislral
Salary of Operations Administrator
Salary- Admin Cost
K￿kstarter Outgoings
Expenses - Rector
Expenses- Curate
Expenses- Babies, Children and
U18swor
Expenses- Operations 8dminislrator
Expenses administratof
Expenses- Finance officer
Reclotr3- telephone
Education and homegroup resourcEs
Parish training and mission
Church running- insurance
Church Office- telephone
Church Intemet- BT
Organ tuning
chU￿h maintenance
Church Cleaning
Upkeep of services
R8freshments
Churchyard rnaintenanco
Church Office Costs
Church Printing costs
Visiting speakers I locums
Subscriptions & Licences
Towar èxpenses
Church running- electriaty
Church running- gas
Church running- water
OWLS Costs
Centre Runnir¥J- buffet calering
Centre Running- Catering Supplies
Centre Running- electricity
Centre Running- g8S
Centre Running- insurance
Routine maintènar
Centre Running - Centre & Garden
mainten
Centre Running - dèaning and
caretaking
Centre Running other deaning cosls
Centre Running - refuse colledion
Centre Running- other
Centre Running- office costs
Centre Running- water
Centre Running-lrft maintenance
Governance costs examinationlaudrt
fee
Church major repairs- slructu
Heritage projects expendrture
Church major repaits - installation
Centre + major repairs- slruciure
Centre + major repairs- installation
Other PCC property upkeep
FeaS1￿lty st￿lY c￿19
6,292
6.292
2.480
3,294
4,258
23.600
90
3,130
10,102
578
11,007
15,2411
85
2,480
3,294
4.256
23,6tx)
2.214
831
2,214
831
377
959
1.039
926
377
240
240
48
327
48
327
301
1,169
7,195
471
425
797
5.747
325
1.409
531
7,394
531
7,394
246
1201
1,069
3.192
489
3,331
509
10
2,411
1,980
65
2,972
60
862
13,461
220
1,120
241
151
{201
1,069
989
21
174
2.203
468
3,156
509
10
2,411
1,980
65
2,803
2,939
2,326
169
60
4,030
2,897
7,591
203
1,183
13,461
220
1.120
241
151
3,546
6,325
2,470
630
102
45
2,948
3,259
2,580
6,325
2,470
630
102
3.201
4,327
4,327
2.577
472
916
3,632
2,221
932
1,038
174
472
916
3.632
2,221
932
1.038
174
234
833
339
820
2,076
1,743
1,920
108
7,000
1.920
108
7.000
950
2,2
5,288
950
10,062
1,167
1.167
17,520
172,519
Total
157,819
24,616
182,435
Othgr expenditure
Other staff and volunteer costs
MiscelLgneous exwses
204
803
803
Page17

Church Flowers
Transfer behyeen church and centre
Transfer bets¥een centre and church
Total
EXPENDITURE TOTAL
60
110.1311
10,131
863
162.826
283
110,1311
10.131
1.146
187.725
283
24,899
1.567
176,077
GRAND TOTAL
9.425
2,129
20,547
Allocation of Support Costs
Support costs comprtse Trustee Training and Govemance Costs etc. Due to the nature of the financial activities
of the PCC these would be allocated across Charitable Expenditure which comprises the majority of its
ex￿nditUre and as such are automatically charged there.
Staff Costs
2023
2022
Wages and salaries
Employers National Insurance
Employers Pension Contribution
full time
Average number of employees
£35,671
£2,212
£565
£27,499
£2,017
£410
During the year the PCC employed a full-time Operations AdministratOT, a Finance Office, a Director of
Music, a Children's Worker and a Youth Worker (until July 2023). all part-time.
There were no employee benefits for key management personnel in the previous or current year.
The PCC uses the National Employment Savings Trust (NEST) via the Diocesan Payroll Scheme. for its
pension payments. The highest paid mernber of staff earned £25.069 (2022: £10.240).
Trustees, Remuneration & Expenses and Related parties
As ex-officio trustees, the Rector has been paid travel and phone expenses of £1,605 (2022: £959) during the
year, and the Curate has been paid travel and phone expenses of £816 (2022.. £1,038)
During the year a wife of a trnstee was paid £3,294 (2022- £1,143) in her role as a Children's and Families
worker. The trustee left the PCC meeting when his wife's employment was discussed. The Finance Officer was
paid £2,912 whilst a trustee.
No other payments of expenses were paid to any other PCC tnember or persons closely connected to them, or
related parties.
t)onations from relat¢d parties (PCC members) totalled £18,446 (2022: £17.784).
Fees for the examination of the aeeounts
Page 18

2023
£174
2022
£174
nil
Independent Exarniner's fee
Other fees paid to the Independent Examiner
Tangible Fixed Assets
Designaled Fund
UnT¢Stricted Church Equipment
2023
None
2022
None
Designat¢d FTeehold Buildings
£834,234
£834,234
Net Book Value at 315t Dee 2023
£834234
£834,234
The freehold building comprises the original Youth and Community Centre complex, 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 converting it to the St Matthew's C¢ntre. In the
opinion of the PCC this should be valued at its approximate rebuild cost of £834,234.
Fixed Asset Investments
Designated Fund
At 1st
Jan
Additionl
(Disposal)
Change in
market value
At31st
Dec
COIF Ethical Investment Fund
Accumulation Units
£2,636
{£347)
£2,983
COIF Charities Property Fund
Income Units
£39,670
{£-562)
£39,108
Total
£42J06
{£-215)
£42,091
Current Assets
Debtors
2023
2022
Unrestricted
Gift Aid & GASDS recoverable
Centre Income
£1,757
£2,957
£1,004
£1,079
Restricted
Agency
Other DebtOTS
£1,575
£1,300
£681
£904
Totals
£7,589
£2,988
Page 19

Liabilities
Amounts falling due in one year
2023
2022
Unreslricled
Accruals
Other creditors
Centre Creditors
£1.914
£648
£26
£4,451
Reslricled
Agency balances
£1.550
£681
Totals
£3,490
£5,780
Page 20

The Parochial Church Council of Walsall St Matthew
Financial Statements for the Year Ended 315t December 2023
Prior Year Comparative Reports
Statement of Financial Activities - 2022
Unre5trieted Designated Restricl¢d Endowrnent
funds
funds
funds
funds
Total Prior year
funds tot41 funds
In¢om¢ and *nd0￿ents from:
tk)naiion5 and legacEs
Income from charitable activities
Other trading acbvrtie5
Investrnents
other incorne
Total Incom¢
120.579
3.354
31.599
26,528
147,105
3,354
31,599
1,387
13,179
196.625
132.548
893
21.527
476
2.457
158.901
10,722
37,249
7.279
182,249
478
Expondlturo on:
Raising fund$
Expendthre on charitable actiwlies
other Èxpenditu
Total exp8ndltUfe
1,992
128,108
1,608
131,709
1,992
153,626
20,457
176,077
15901
183.126
1,380
24,140
18,849
42,989
1.380
185.852
Net income I lexpendltur•l r¢soyr¢¢$ before
transfer
27,193
19051
15.7401
20,547
123,6041
Transfers botrmon fund8
Other recognlsed galns I losses
Gains 11055es on investment assets
N•t mtrvoment In funds
116,7871
$3,726
138,9391
8.650
44,171
8.650
11,897
10,406
142,6791
123.6041
Totsl fund¥ brought forward
22.788
832,370
111,oe6
966,243
989,848
Total funds carrfed forwat
Represented by
Unr8strlcted
General fund
33.193
33.193
33.193
33.193
22,788
22.788
Do519nated
Centre Building Designated
Buikling Designated
Communty Support We¢
834,234
834.234
834,234
11,8841
42.306
876.540
42 306
876.540
832 370
Analysis of Funds - 2022
G¢ner41 Desi
nated Restrictsd Endowment
This eAr
Last
¢gr
Flxed assets. InvÈ5trnents
COIF Property Fund.
COIF Ethl¢al Fund-
39.670
2.635
42.306
39.670
2.635
42,306
Totals
Flxed assets- Tanglblé 0s$ots
st Matthews Centre-
834.234
834.234
834.234
834,234
834.234
834,234
Totals
Current assets. Cash •t bank and In hand
No 1 Bank ¢urrent account-
Centre Reven￿ A¢¢ouni-
No 2 Bank a¢¢ount-
25,131
9,362
86.788
91,920
9.362
71.101
12,646
47.387
Page 21

No 2 Bank account-
Centre Maintenance Account-
Interior Deeerating S¢heme-
12871
1.690
86,479
1,690
102,974
1.1
132.039
Totsls
34.494
Curront ass8ts- Debto
A￿ountS ReCeiVab￿-
2,987
2,987
2,987
2,987
Total$
6,873
Current assets- Investsnents
COIF deposrt account-
810
810
607
607
1,418
1,418
1.403
1.403
Totals
Llabillile8- Agency accounts
Agency collxtwJns-
681
681
681
681
Totals
4.673
Liabiliiies- CredltoT8- Amounts falllng due In
one year
Loan5 recewed-
Alxounts Payable.
198
198
Total$
5,099
5,099
3,634
Grand total
978 139
Fund movement by type- 2022
enin
Ineomi
Out
oi
Transfers G#itsxqosses
Closin
BuildDEs- BU￿dIng & Fabric D8
De5vJnaied
1,864
11.8641
1.380
1.380
3,245
3.246
SUWI for BulldD¥s
BulldR88- BuHdlng Restrltted
Restric*ed
55.123
55.123
11.842
11,842
9.950
9.950
3,628
13,6281
53.387
53,387
SutAolal for BulldR8s
CSW. Communlty Support Vlo
De5vJnaled
476
476
50 481
50.481
8.650
18,6501
42.306
42,306
Suttrtotal for CSW
CSW- Community Support Vlo
Restricted
47.277
47,277
47.277
147,2771
SulAotal for CSW
C•nire. Centro Bulldlng Desl
Oe$KJnaled
834,234
834.234
834,234
834.234
SubQotsl for C•ntre
Communlty- Communlty Day R¥slrl
Rastrthd
4,472
4.472
250
250
4,722
4.722
SutrAotsl for CommU￿ty
Flowor- FI0￿r Fund Restdcl
Reslrthd
234
12341
25
25
1.822
1,822
310
310
Sub.totsl for Rower
1,303
Gonoral- General fund
Unr8Strithd
158901
158,901
131,709
131,709
16.787
116.4871
Sut*total lor Goneral
22,788
33,194
IDS- Interfor DecOra￿n9
Reslrthd
250
250
500
soo
Sub-total for IDS
941
1,691
Legacy- LegacylRfrOrdorlng R
ReslrKtsd
5.567
5,667
14.000
14,000
17.520
17,S20
2.047
2,047
SulAotal lor L89acy
OVIL5- OVIL5 Restrlcted
Restricted
117
1.261
185
315
Page 22

Sub.totsl for OVILS
117
1,261
1.246
186
316
Organ- Organ Fund
Restricted
506
506
762
782
218
216
Sub40tsl for Oryan
Safer. Safer St Matthews
Restricted
1,535
1.535
1.535
11,536)
Sub.totsl forsafer
Toddler-Toddler
Restricted
2.158
2,158
650
650
1.508
11.5081
SutrAo￿ for Toddler
Tollet. DisabledTollot Rest
Restrlcted
608
s￿￿tOtal for Toilet
Tower- Tiy*r Restricted
Reslnded
3.406
3,406
332
332
154
is4
233
12331
sU￿tOtal for Tow•r
3.816
U18's Fund. Chlldrni And Youth W
Restricled
8.401
18,4011
6.419
6,419
11.202
11,202
14.052
14.052
Sub-total for U18'8 Fund
868
Weekend- Church Weekend Rostr
Restricted
169
169
672
672
200
200
Subtotal forwqekond
641
Orand total
196625
176077
978.139
Analysis of material transfers between funds- 2022
Unrestricted
Restricted
Total
Annual transfer to Interior Decorating Scheme
(held by diocese for use in Rectory decorations)
From Tow¢r Fund to General Fund
(contribution by Tower for church heating costs)
From General Fund to Flower Fund
(redress negative value of Flower Fund)
From GeneraL Fund to Ul 8 Fund
(maintain balance of Ul 8 Fund)
From CSW restricled to CSW Designated
(to rectify incorrect posting in 2021)
(£250)
£250
£150
(£150)
(£1,822)
£1.822
(£13,741)
£13.741
£47,277
(£47.277)
Page 23