2024-12-31-accounts

Annual Report and Financial Statements of the Parochial Church Council of Walsall St Matthew Registered Charity number.. 1148805 For the year ended 31" December 2024

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PAIUSH OF ST MATTHEW'S WALSALL CHARITY COITrlMISSION NO. 1148805 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The members of the PCC have pleasure in presenting their annual report and financial statements foi the year ellded 31" December 2024. Objectives and Aetivities The Parochial Church CouTrcil of Walsall St Matthew (the PCC) has the responsibility of co-operating with the incumbent, the Reverend Jim Trood, in promoting in the ecclesiastical p￿lSh, the whole mission of the Church, pastoral, evangelical, social, and ecutnenical. The PCC is also spiritually responsibl¢ for the maintenance ofthe church. Th¢ PCC is committed lo enabling as many people as possible to worship at our church and to become part of our parish community at Walsall St Matthew. Tbe PCC maintains an overview of worship throughout the parish and makes suggestions on how our services ¢an involve the rnany groups that live within our parish. Our services and worship put faith into practice through prayer, scripture, music, and sacrament. Also, through non- sacrarnental activities of hospitality and fellowship we aim to reach non-churched members of the community. Public Benefit The trustees of the PCC are aware of the Charity Conunission's guidance ou public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Charity. The t￿Stee5 believe that, by promoting thc work of the Church of England in the Ec¢lesiaslical Parish of Walsall St Matthew it helps lo promot¢ th¢ whole mission of the Church Ipastoral, evangelistic, social, and eeumenieal) more ¢ffeciively, within the Ecclesiastical Parish. and that in doing 50 It provides a b¢n¢lit to the public by.. Providing facilities for public worship, pastoral carc, and spiiitual, moral and intellectual developm¢nt. bolb for its members and for anyone who wishes to benefit from what the Church offers,. and Promoting Christian values and service by mernbers of the Church in and to their communities, to the benefit of individuals and society as a whole. Achievements and Performance St Matthew s chuich ailns to be an 'Acts 2. chi]rch. We value awe, unity. generosity, hospitslity, and growth. The Leadership Team has adopted a strategy more fitting to the church and its environment: Worshippillg God Equipping His people Growing thc kingdom Serving Walsall The PCC is responsibl¢ for Si Matthew's Centr¢ and transactions through the Centre are included within the financial siatements. The PCC ha5 ¢Stablished sub-eommittees, 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 MatLagemenl Service. There is also a Standing Committee. A Leadership Team was established during 2016 and continues to meet monthly to discern God's will for the church. During 2020 a church Mernb￿. was appointed on a voluntary basis as church buildittg manager, with responsibility for maintenance, repairs, and Page 2

insurance claims as necessary. A team of volunteers for routine grounds and building maintenance has since been recruited. Church Membershlp As of 19, May 2024, the number of members on the church Electoral Roll stood at 184. There were l83 in 2023. Ecumenical The PCC has representatives on the Walsall Town Centre Ministry parthership 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 Matthcw's Parochial Church Council held six meetings during 2024- 29th January, 18th March, 13tEL May, 10th June, 30th September, and 18th November. St Matthew's Annual Parochial Council Meeting took place on 19th May 2024. The Stsnding Committee met six times,. its membership comprised the Rector, the Churchwardens and two elected members from the PCC.. Jose Davenport and David Smith. Alyson Green was in attendance in her role of Finance Officer & Treasurer. In June 2024 Reverend Jim Trood was appointed Acting Archdeacon of Walsall in parttlershtp with Reverend Julia Cody of Kmver. Staff wise.. A team of volunteers ¢ontinued with Creche and children's work throughout 2024. led by Priscilla Trood as children's and families, worker. Nancy Candiin was employed as Operations Manager throughout 2024, with Samuel Baidoo employed frorn January to November 2024 &s OpeTatlQDS A5S1Stanl. Alyson Green continued her anployment as Flnance Officer & Treasurer throughout 2024. tn addition to regular business the PCC received reports and discussed various issues importanl lo the life of our Church, including progress regarding the reordering of the west end of the chur¢]L known as the Legacy Project. Dunng 2024 the Leadetship Team and PCC continued to review and develop St Matthew's Mission Action Plan. The church vision focusiDg on worshipping God, equipping His people, growing His kingdom, and serving Walsall was maintained throughout 2024. During 2024 the Church wag pleased to be able to bold the Civic Carol Service, in December. and the annual Blue Coat Schools Exhibition and Blue Coat Sunday Service earlier in the year. The church did of course continue its close working with the local Blue Coat Academy and Blue Coat Federation schools, and with the Town Centre Ministy and Love Walsall. The PCC has continued to support mission partlleTS. overseas and in the UK. In 2024 St Matthew's supported our overseas mission parthers.. Christian Service Unit in Inth'a, NOAD ill Pakistan and Child Aid (Ukraine). LocaI auses we supported were.. Seasons. a hostel for recovering addicts, the James Brindley Foundation, a ¢haTity campaigning to reduce knife crime. Walsall Bereavement Support Service and Love Walsall. Other ¢auses supported during 2024 included Embrace Middle East, The Cbildren's Society and Walsall Rotary Club's Ukraine appeal. Meetings were held to review mission giving alld make future deci5ion5 in this respecL The church was open to visitors during Heritage Weekend ill September 2024. Page 3

Building matters Tlie building manager with his team of volunteers continued to be responsible for routine maintenance of the church and grounds. The Legacy Project working group continued lo meet regularly to discuss the way forward for a r￿rderIng scheme and aspects of ￿ndraising. Financial Review and Reserves Policy Total Net Assets are £963,366 (2023 £977,978). Net expendittw¢ before transfers was £15,478 (2023 nel incom¢ of £1,048) made up of un￿StrICted deficit of £6,614 and a restricted deficit of £8,865. Total incom¢ has fallen slightly from £188,774 to £184,870. This is maillly due to a reduction in general giving and last year also showed a legacy of £5,000. Total expenth'tttre has in¢reas¢d from £187,725 10 £200,348. This year includes roof repairs of £13.000, employment of an Operations Assistant, atld some other smaller movements from last ye￿. It is PCC policy to try to maintain a balance on free reserves (net current assets) to equate to at least IhT¢e months, unrestricted payments. This is equivalent to £41,764 (2023.. £40,706}. It Is held lo smooth out fluctuations in cash flow and lo meet emergencies. Th¢ balance of free reserves was £31.452 (2023.. £36,189). which is slightly below th¢ target of £41.765. If necessary, the PCC have agreed to utilise some ol Ihe designated reseryes, excluding the property. to ensure sufficient funds are available ￿ meet current liabilities. As at the year<nd these reserves were £44,543 (2023.. £42,090). Investment Policy The charity is granted power to invest in suitable inv¢sttnents under the PCC Powers Measure 1956 and the Trustees Aet 2000. As a Charity, the Trustees have a duty of care to take 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.. - Ethi¢al Investment - this includes ensuring that investments are held in companies which have bigh standaTds of corporate governance and act ID a responsible way towards stakeholders. Long-term responsibilities tb¢ trnslees are aware of their Iong-tenn responsibilitics in respect of the Restricted and Unrestricted reserves and as a result follow a prudent approach lo InVest￿ent decisions. Investtnent policy for long-tenn fi]nd$ is aimed primarily at generaling a sustainable income. with due regard io the need for the preservation of ¢apilal value, and the possible need to realise invcstTnents to meet operational needs. The charity does not have a policy of generating income at excessiv¢ or high risk- known as'purchasing income". where high returns are guaranteed at th¢ expense of capital. In surnmary, Ibe charity has an overall policy lo maximise income while preservin8 the real value of its fund5. Due to the n&￿re of the clwkty. att ethical investment policy is taken into consideration when investments ar¢ made.. The charity follows the Ethical tnv¢sknent Advi50ry policy as recommended by the Ltcbfield Diocese which includes the following: "We aim lo invest in companies that= will develop their business ill the interests of shareholders. * demonstrate responsible employment practices- are conscientious concerntng issues of corporate governance, the environment and human rights. are sensitive to the community in which they operate." Planned gtving. collections and donations are the main sources of fimd rdi5ing along with tax recoverable. Page 4

Safeguarding The PCC belÈeve they have fulfilled their duty under section 5 of the Safeguarding alld Clergy Discipline Measure 2016 (duty lo have due iegatd lo House of Bishops, guidan¢e on safeguarding children and vulnerable adults). Risk Management The Church Wardens carry out regular Health and Safcty Reviews attd regularly inspect pr¢mis¢s for potential hazards. We have safeguarding polLCLes in placc for child protection and for work with vulnerable adults, including rigorous DBS checking of staff and volunteers. Our insurances are reviewed annually to ensure adequale cover. An infom]al review of any new risks which may impact the work of the Church ID the Parish is ongoing. Structhre? governance and management The PCC is a Body Corporate establisbed by the CELuTch of England (PCC Powers Measure l956, and the Church Representation Rules 2006) and is a Charity registered with the Charity Cornrnission. The PCC is governed by the Parochial Church Council Powers Measure (1956) as amended that came into effect on 2nd January 1957, and th¢ Church R¢pr¢s¢ntation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as am¢nd¢d). The method of appointment of trustees is set out in the Church Representation Rules. The Coun¢il comprises the Incumbent, the Curate, the Churchwardcns, th¢ Leader of th¢ Asian Congregation, those electcd to tILe Deanery Synod. and other membcrs who arc clcctcd at the Annual Parochial Church Meeting, by those on the Electoral Roll. The PCC members receive training from courses run by the Diocese. All eligible Church attendees are encouraged to register on the Electoral Roll and stalld for election to the PCC. The PCC members are responsible for making decisions on all matteTS of geneTal concern and importance in the parish, and for all financial matters. St Matthew's PCC has the responsibility of co-opcrating with the In¢umb¢nt in promoting in the ecclesiasti¢al parish the whole mission of the Church, pastoral, evangelistic, social, and ¢cumeni¢al, and in so doing to promote its mission statement. Related Parties Donations from related parties durillg the year lotsll¢d £l8.035 (2023: £18,446). Ail these donations were received without conditions. DuritLg the year a wife of a trustee wa5 paid £4,460 (2023: £3,294) in her rol¢ as a Children's and FamilÉes worker. The trustee left the PCC meeting when his wife's employment was discussed. Reference and Administration Information St Matthew's church is situated in St Matthew's Close, Walsall, WSI 3DG and is part of the Deanery of Walsall. in the Diocese of Lichfield. It is a regist¢r¢d cbarity-' Ch￿lty number 1148805. Thc correspondence address of the church office is Si Matthew's Church C¢ntre, St Matthew's Close, Wa]sall, WSI 3DG. Page 5

The trustees, members of the PCC, who have served from l¥t January 2024 until ihe date of this rcport. were as follows.. EX￿￿1¢0 members.. Rev. Jim Trood (Chairtnart} Curate Vacant Leuder ofAsiaD Co ation Adil Burke Wardepu." l. Daniel Barker (￿-eleCted frorn APCM 2024 to APCM 2025) (re-elected frorn APCM 2024 to APCM 2025) (elec￿d from APCM 2024 to APCM 2025) (elected from APCM 2023 to APCM 2024) 2. Ben Butterfield 3. Patti Lane 3. Judith Ridgway 4. Vacant ReprÉsentiitive on the Diocuwi Synod.. {James Clairton) aka Jimm Reuni¢ Representalives on ihe De4nerySyAOd.. l. Patti Lane (elected from APCM 2023 to APCM 2026) (elected from APCM 2023 to APCM 2026) (elected fmm APCM 2023 to APCM 2026) 2, Sue Webster 3. Diane Edlin Elected members.. UKMEIGMH adviser Darisha Daniel (eLected from APCM 2024 to APCM 2025) l. Judith Ridgway 2. David Smith (elected until APCM 2025) (clcct¢d until APCM 20251 (elected witil APCM 2025) (¢l¢cted until APCM 2026} (el¢¢ted Umil APCM 2026) (elected UDtil APCM 2025) 3. Debbie H¢y-Smith 4. Elaine Brookes 5. Jose Davenport 6. Sam Fawk¢5 7. Obumneme Esomchukwu (elected until APCM 2026} 8. Winner DeDllibme-Awey 9. Christine Barkley (elected UnTiI APCM 2026) (elecred until APCM 2027) Page 6

1. Uzoamaka Esomchukwu jelected until APCM 20?7) I l. ChulThwJdi Mi adu (elected until APCLM ?0?7)
2. Lon￿ WilliarTJ5 (elected until APCML ?027) Co-opted by PCC John Edlin (Buildiug Manager & warden (noD-votino Officers of the PCC FitLance OffLcer: Alyson Green Gift Aid Secretary.. Alyson Green Operations Manager.. Nancy Candlin Operatiolls Assislanl.. Samuel Baidoo- 8 January-29 Nov¢mb¢r 2024 Deputy Church WaLden.' Paiil Davico Names and addresses of advisers Ballk Lloyds Bank, The Bridge, Walsall, PO Box 1000 BXI ILT nvestment Managers CCLK l Angel Lane, London EC4R 3AB Independent Examiner Jonathan Hill, Lichfield Diocesan Board of Finance, Lichfield WS13 7LD Approved by the PCC on . Z&/..ob./.............................. 2025 and signed on its behalf by: J.-. w: l (>d......... Signathre:.. SignatUTe: .... Name.. ..(7itLI CLo4vI).... Name.. 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 3 1st December 2024 which aTe set out on the following pages. Respective responsibilities of the Trustees and Independent Examiner The clwity's trustees are responsible foi the preparation of the a¢¢ounts. The charity's trustees consider that an audit is not iequired for this year under Section 144 of the Charities Act 2011 (the Charities Act) that an independent exaJnination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Act. to follow the pro¢edures 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 Statement My examination was caryied 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 cornparison 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 conceming any such matters. The procedures undertaken do not Provide all the evidence that would be iequired in an audiL and consequently no opinion is given as to whether the accounts present a tNe 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 give 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 comply with the applicable reqUire￿ellts concerning the forni and content of accounts set out in the Ch￿1t[eS (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a tnattei 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.. Jonathan Hill FCMA CGMA Lichfield Diocesan Board of Finance St Mary's House, The Close, Lichfield WS13 7LD Page 8

The Parochial Church Council of Walsall St Mattheiy Financial Statements for the Year Ended 31. December 2024 Accounting Policie5 The PCC is a public benefit entity within the rneaning of FRS 102. The financial statements have been prepared nder the Charities Act 2011 and in accordance with the Church Accounting Regulations ?006 governing the individual accounts of PCCS and with the Regulations 'true and fair view, provisions. They have also been prepared in accordance with th¢ Charities SORP (FRS 102). The f￿anCIal statements have been prepared under the historical cost convention witll items recognised at cost or transaction value unless othetwise ststed in the relcvanl notCS to thcsc accounts. Tbe financial slalements include all transactions. assets and liabilities for which the PCC is responsible in law. They do not include the accounts of chuich groups th&1 owe their main affiliation lo atLOther body nor those that are infornial gathering5 of Church mcmbers. There may be minor discrepancies in the totals as the pence are not being shown. Cashflow Statement The charity has taken advantage of the exemption in FRS 102 from the requirement to produ¢¢ a cash flow statement on the grounds that the income does not exceed £500,000. Going Concern There arc no material ullcertainties related to events or ¢onditions that ¢ast significant doubt on th¢ charity's ability to continue as a going concern. The PCC are aware that they are reltant on the regular giving income aud have plans in place were this to reduce significantly. Accounting Estimates and Prior Year Errors No changes to accounting estimates have occurred in the reporting period. No tnaterial prior year errors have been identified in the reporting period. Description of Funds Unrestricted Funds arc income funds of the PCC that are available for spending on the general purposes of the PCC, including amounts designated by the PCC. for fixed assets for its own use or for spending on a future project and which are therefore not included in its 'free reserves, as disclosed in the trustee's annual report. Restricted Funds comprise two elements:_ a) Income from ttusts or endowments which may be expended only on those restricted objects provided in the lenns of the ttust OT bcquest. b) Donations or grants received for a specifie object or invited by the PCC for a spe¢ifi¢ object. The ￿ndS may only be expended on the specified object for which they were given. Any balan¢e remaining unspent at the end of each year must be carried fonvard as a balance on that fiujd. The PCC does llot usually invest separately for each fund. Wbere there is no separate investment, interest is apportioncd to individual fiu)ds on an average balance basis. Income Planned giving. collections and donations are recognis¢d when re¢¢iv¢d or when the PCC becomes ¢ntitl¢d to the resource and the monetary value Can be measured with sutficient reliability. Tax iefiindb ate iecognised when the incoming Tes0u￿e to which they relate is received. Grant5 and Legacies are accounted for when the PCC is legally entitled to the amounts due and the monetary value can be measured with sufficient reliability. Page 9

Dividends are accounted for when receivable,. interest is accrued. All other income is recognised whell it is receivable. All incoming resources are accounted for gloss. Expenditure Grants and donations are accounted for when paid over. or when awarded, if that award crealcs a binding or ¢onstrnctive obligatt'on on the PCC. The diocesan common fund payment is accounted for when du¢. Amounts received specifically for mission are dealt with as restricted fi￿ds. All other expendtttwe is generally Tecognised whcn it is incurred and is accounted for gross. Governance and Support Costs Support costs should be allocated betwe¢n govetnance costs and other support. Govemance costs comprise all costs involving public accountsbility of th¢ PCC and its compliance with regulation and good prdclice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg by allocating stsff 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 fiunishings held by the rector and churchwardens on special tThst for the PCC and which require a faculty for disposal are inalienable pmpety, listcd in the chur¢h's invelltory. which can be inspected (at any reasonable time). For anyt]llng a¢quired prior to 2000 there is insufficient cost infomlation available ajkd therefore such assets are not valued in the financial statements. No depreciation is providcd on buildings as the currently estimated residual value of the properties is not less than their canying value and the remaining use￿1 life of these assets exceeds 50 years, so that any depreciation Charges would be immaterial. Th¢ freehold building comprises the original Youth and Community Centre complex. which wa5 originally valued by the PCC at L" January 1997 at £60,000 based on approximate rebuild cost. Additions since 2003 have been the cost of re￿rbIShlng the original complex and converting it to the St Matthew's Centre. In ihe opinion of the PCC this should be valued at its approximate rebuild cost of £834,234. See page 19. Investments Investments in quoted shares, traded bonds and similar investments are valu¢d initially &t cost and subsequently at market value at the year end. Investments beld for re-sale are treated as current asscl investments. Debtors Debtors are measured on initial recognition at settlement amount. Subsequently they are measur¢d at cash expected to be received. Creditors and Accruals Creditors are measured at settlement amounts Kess any trade discouats. A¢¢n￿lS are measured on best estimate of the amount required to settle the obligation at the reporting date. Pagelo

The Parochial Church Council of Walsall St Mattheiv Financial Statements for the Year Ended 31" December 2024 statement of Flnanclal Actlvltles Unrestrlcted R8Strlcted Endowment Total Prloryear funds totollunds funds funds funds Rocelpts DoDaUons ¥J ￿93￿c5 IncOmef￿rn charitable ocbv1￿$ Olher iradiro aclivtites Invesknents Oiher wcom8 Totsi Incorne 103.179 5.977 49.654 1.672 119.370 12.255 49.654 1,830 1.760 184,870 131.363 9,902 46.214 1,180 6.278 158 1,fj92 21319 1£0,550 188,774 P¥ymqnts Rasin9 funds Expenditure on Charit￿ actfvlllas Other expenditure Total oxpqnditure 150 158.183 8,831 167.164 1.493 31.187 4.144 176.143 7.438 187,725 189.370 9,335 200,348 33.184 Net ￿(0￿￿1 lexpendlturel resources befove tron$l•r 16,6141 18,8651 115,4781 Tran51ers Gross Iransfèts ￿tween lund5- in Gross Iranslers b8tweert fvrtds- out Other recognlsed galns I l•s$•s Galn5I0ss8s on Invesknani a￿&ts Galns on rev8luabon, fixtd assels, ¢hariV5 own use N•t mov•ment in I￿ndS 171 171 17,0591 866 866 11.2091 15.577 19.0361 114,6121 Total lunds brought forward 91S,806 61173 977.978 971.139 Total forward 910.229 51137 963.366 977.971 Ropr•¥•Tht8d by Unrestricted GEnerdl fund 31.462 31.452 39.482 Deslgnatsd Building & Fabric Dosl9tl816d Contr8 Building Desiynaled CotnmuThty SuppDrtWork HardS￿P De5ignatgd M Gumbley Fvnd Safer Sl Matlhews 834.234 44.543 834.234 44.543 834.TJ4 42.￿0 Restricted Agency collectlon Building Reslri¢led ChlldF8nAnd Youth Worker Restricted Church Weekend Re51ri￿ed Commuruty EvenL8 Restrictsd Di8abl8d Toilal Restricted Flow&r Fund Resiricted Interior Oecorating Stheme 39,750 14.0571 3.623 2.￿9 579 741 2.941 39.750 14.0571 3.623 2.909 579 741 2.941 42.528 232 2.545 546 2.316 Page JI

LegacylRtrOid&iny Re51riGted Fund Qryan Fund OWLS Restrkted Safei Sl k4atthews Taddler Yo￿r Resirtt 2267 2.267 15 4,547 15 12301 4,599 4,$99 3.643 Total funds 910,219 S3,137 963,3fj6 977,978 Page 12

The Paroehlal Chureh Council of Walsgdll St Matthew Financial Statements for the Year Ended 31" December 2024 Balance Sheet (Separate funds) Ceneral De8R Dated Restricted EndowEDent At 31112n024 At 3111212023 Fixed assets Tangible Assets Invesknents 834,234 44.543 878.777 834.234 44.585 878.819 834.234 42.090 876.324 42 42 Curr8llt a88ets Debtors Inve$trnenl$ Cash At Bank And In Hand 18,803 878 13,633 15061 678 54,489 $4.661 18.297 1.556 68.122 87,975 4.934 1.481 99.205 105,620 c￿￿11¢r$." Amounts Falling Due In One Year 1,904 1.904 1,524 1.$24 3,428 3,428 3.965 Net currant assets less current liabilit10S 31,410 53.137 84.547 101,654 Total a$$ot$ l•$$ ¢urr•nl Ilabllltl¢$ Llabllltles 31.452 878,777 S3,137 963,366 977.978 Totsl ngt èssgts I￿5 Ilobllltlgs 31.452 87B,777 53,137 963,366 R¢pr*$¢nt¢d by Unrestricted unreStrict￿- General Fund 31.452 31.452 39,482 Designated Designated - Community Support Work De$Wna1￿- Centre Building Designated 44,543 834.234 44,543 834.234 42.090 834.234 Restrl¢t8d Restrided- Cornrnunity Events Re51ricled Restricted- Children And Youth Worker Rostricied Resiricled- Building Restricted Resfficted. LegacylRe-Ordenng Resln"cted Fund Reslri¢led- Fbwer Fund Restricted R8strtcl8d- Organ Fund Restricted- OWL5 Restricted Restrtct8d- Tow8r Restricted ReslThGled- Interior Decorating S¢heme Restrided- Church Weèkend Restricted Restrict8d- Disabled TrA18t Restrtcled 2.909 14.0571 39.750 2,267 741 15 12301 4,599 2,941 3,623 579 2,909 14.0571 39.750 2.267 741 15 12301 4.599 2,941 3.623 579 4,299 232 42.528 4.547 963 15 540 3.643 2.316 2,545 546 Fund Totals 31,452 678,7T7 53,137 963.3fj6 9n,978 Approved by the Parochial Church Council on 261. o.bl... 2025 and signed on ils behalf by.. Signature: Name. .-TAM e3 { ).TA(wl... The notes on the following pages form part of these accounts Page J3

The Parocbial Church Council of Walsall St Matthew Financial Statements for the Year Ended 31" December 2024 Statement of Assets and Liabilitles (by fund) Balon¢¢ Previou$ bal&nte Investments COIF Proporty Fund 1st Matthe¥f8 Chur¢hl Community Support Work D8signat8d 41,433 41,433 39,107 39,107 COIF Ethlcal Fund (St AlottheW5 Church) General fund Community Support Work Unrestricted Destqnat 42 3,110 3,152 44.585 2.983 2.983 42,09) Investrnents Tanglblo Assets St Matthews Centre ISI Mathew's Chvrchl Centre Building Designated Designated 834,234 834.234 834,234 834,234 Tangible Assets 834.234 834,234 Cash At Bank and In Hand No 1 8ank rurrent account 1st Matthevls Chur¢hl Community Events Reslncte R8sMcted General fund Unrestricted ChI￿ren Youlh Worker Restric Re5trict8d Bu1￿￿ng Reslricted Re51ricled L8gacylRe-Ordering Restricied Fund Restricted Flower Fund Restricled Restricted Ofgan Fund Restneled OWLS Restricted Restrict Tower Restricted Restricted Chur¢h VVeeken(J Restn"cted Restri¢te(I Dlsabled Toilet Restricted Restricted Agency collection Restricted 2,909 7,656 13,6571 40,228 2.267 741 15 12Q71 4,599 3,623 11001 1,130 59,204 4,299 30,812 283 42.528 4,547 963 15 $90 3.643 2,545 11001 1.575 91.699 Centre Revenue ArGount 1st Matthevls C¢ntr8} General fund Unrestricted 5.977 5,977 5,190 5.190 Intsrfor De¢oTating Scheme 1st Matthew's Church) Interior Decorating Schame R85trkled 2,941 2.941 68.125 2,316 2,316 99,205 Cash At Bank and In Hand Debtors Aceounts Receivable (St. Matth•w'$ Centre, St Matthew's ¢hur¢hl General fund Unrestricted ChI￿re￿ And Youth Worker Restrthd Restricted General fund Unre51ricl8d OWLS Restrfcted Restricted A9enGy ￿llection Reslrbcled 16.721 2.671 326 1.878 59 1,559 17 18.297 18,297 4.934 4,934 Debtors Investments COIF deposlt o¢¢ount ISI MattheW$ Churrhl General fund Oisabled Toilet ReslrKted Unrestrict Restricted 878 679 1.556 1.556 835 646 1,481 1.481 Investments Ayency Accounts Agency collectlon$ ISL Matthew's Centre. St Matlhew's Church) P£78e J4

Agency collection Restricted 1,147 1.147 1,147 1,575 1.575 1.575 Agency Accounts reditor5'. Amourlts Falling Due In One Year Accounts Payable (St. Matth¢w's Centr¥, St MattheV5 Church) General fund Unrestricted Chlldren And Youth Worker Restricted Restricted General fund Unrestricted OWLS Restricted Restricted 1,878 377 26 1,878 377 26 109 2,390 2,390 2.281 2,281 Cr8dltors'. Arnounts Falllng Ouo In One Year Grand Total 963.366 977.976 Analysis of Funds - 2023 GeneraI Desi ated Restricted Endoivmtnt Thi$ eir La$t ¢#r Flxod assots.Tanglblg ass4ts Sl Mauhpws Cenlie- Totals 834,234 B34.234 urr¥nl 0sso1$-Ca$h at bathk In hand No 1 Bank ¢Ufrenl ￿cOUnt- Centre Revewe Account- Contre Mainienance Account- Intsrio¥ sth￿e- 30.812 5.1 60,867 91.699 5.19) 91.920 9,363 2.316 99,206 1,691 102.974 Total$ 36,002 63,203 ¢urrÈnt a$$Èt$-D¢btor Accoun15 Re￿1Vable- 385 385 4.934 4,931 2.988 c￿￿ent as5ets- Investments COIF depol 8ccouni- COIF Prcpfyriy Fund- COIF Elhtcal Fund- 1.481 39,107 2.983 43,571 1.416 39,670 2.636 43.724 39.107 2.983 42,090 83S 646 Llabl1ltles.Agen￿ accounts Ag8n¢y Colle￿r0￿- 661 681 Totsl$ 1,S75 1,57S Llabllillo$.Crndtors= Arnounts falllng du• In on• ygar Accrual5- Accounts Payablo- Totals 1,9D4 2.390 5.1QQ Grand total 97T 978 978139 Page 15

Fund movement by type - 2024 Fvthd Community- Communlty Event5 fund Restricleé 4.299 4.299 IDeomin Out oin Transfers Gain￿$5¢5 Journals C105in 1,390 1,390 2,909 2,909 Sub4otals General- GengTal fvnd Un￿51￿Cted 39.482 39.4B2 158,921 158,921 167.1 167,164 171 171 42 42 31,452 31,452 Sub-totals U18's Fund- Children and Youth Work fund Restricted 232 232 2,376 2.376 6,665 6,665 14,0571 14,0571 Sub.tota15 BulldRg$- Bulldlny fvnd Fiestri¢ted 42,528 42.528 11,760 11.760 14,538 14,538 39,750 39,750 Sub-totals CSW_ Comrnunity Support Work f¥Jnd Designaled 42,090 42,090 1.629 1.fj29 824 824 44.543 44.543 Sub-totals Legacy- L¢ga¢ylRe-ordering fund Restdcled 4,547 4.547 2,280 2,280 2.267 2.267 Sub-totals Fl¢)wer- Flower fund Restricted 963 963 30 30 252 252 741 741 5ub4otals Organ- Organ fund Reslricled 15 15 15 15 Sub4otsls OWLS- Ourwave Length fund Restricted 540 1,501 1,501 2,271 2,271 12301 12301 sub40￿$ Tower- Tower Fund Restricted 3,643 2.260 1260 1.132 1,132 171 11711 4,599 4.599 sub.totals IDS- Interior Decoratlng Scheme fund R8stricted 2.316 2.316 625 625 2,941 2,941 Sub.totsls Weekend- Chur¢h Weekend Away fund Restricted 2.545 2.545 5,734 5,734 4.656 4,656 3,623 3,623 Sub4otals Toilet- Oisabled Tollet fvnd Restricted $46 $46 33 33 579 579 Sub4otals Centre- Centre Building D8slgnated 834.234 834,234 834.234 834,234 Sub4otal$ Page 16

Totals 977.978 184,870 200.348 866 963.366 Fund Descriptions U18s Fund Safer St |Matthews Fund Toddler Fund Building Restricted Fund CSW Community Support LegacylR¢-Ordering Fund Flower Fund Organ Fund OWLS Fund Tower Fund Interior Decorating Scheme Weckend- Church Community Day Disabled Toilet Buildijig & Fabric Designated To support Children and Youth work in ihe parish Work to improve Church building sccurity Work with Babies and Toddler Groups For the n]aintenance and upkeep of the fabri¢ of the church For Local Parish Mission projects For the Church Re-ordering Project For Flowers in Church For Organ related ¢xp¢nditure Our Wave Length - Group for the over 65s Tower and Bells and related expeiiditure For the interior decoration of the rectory Donations and costs relating to the Church Weekends away Funds received and paid out for the Church Community Day For the iiistallation of a disabled toilet Various historic legaci¢s designated by the PCC towards the maintenance and upkeep of the church fabri¢ The value of the Chur¢h C¢ntre Centre Building Analysis of material transfers between funds - 2024 Debit Credit Transfer from lower lund Transfer from lower fund Transfer from lower to general lund Transfer from lower lo general fund Transfer from lower to goneral fund tower to neral fund Leaflel ¢opylng costs Tower leaflets copying c0515 Tower infomiab.on l&aflels T¢)wer information leafl815 Tr8nsf8r from Tower fund to general fund Transfer fvom I fund Towor Rwa General Unr Tower Re5 General Unr Tower Res General Unr 155 155 Total 171 171 Fund movement by type- 2023 Opening Incoming Outgoing Trgn$fcrg GsinsAogse$ C105ing BulldR¢s- Bulldlrw Restricted Restr￿led 53.287 53.387 10.859 10.8S9 42.528 41526 Sub4olal for BulldR•s CSW- Community SuppDrt Wo Designa 42.206 42,306 993 42,090 41090 Sub4olal lor CSW 11.2091 Centro- C?ntrn Building DesÉ Designated 834.234 434234 Sub4¢tal lorC•th C•mmuntty-Community Events Re$ Page 17

Reskncted 315 4.299 4.299 sub.total for C¢mmunlty 4.722 108 Flowèr. Flo%Y•r FuThl RestAct Re$lricled 310 3a0 50 50 1,000 1.000 963 963 Sub40lal frji Flwwvr 398 Gen8r*i. Genaral fund Unrèsiricied 175.043 175.043 162.826 162,826 5.929 15,9291 39.482 39.482 Sub40ts1 tor Gon•ral 33.194 IDS-Interior DKoratlng Restricted 125 125 500 500 2.316 2,316 Sub4otal for IDS 1.691 Legacy- L¢9a¢ylRe￿rderlnO R Re51riGted 4.$47 4.547 Sub-t•ial fot LEgacy 2.047 2.500 OWL5. OWL$ Rostrlded Reslricled 315 315 1.120 1.120 10Q $ub4oial for OWLS Orllan-organ Fund Restri￿ed 1S 15 Sub4olal fororyan 1,129 1,129 Yoilgt- Disabled Toolet R8$t ReslNcled 608 608 100 100 36 38 546 $46 Sub4olal foryollqt Tower.Tower Restrithd Resiricted 3.816 3.B16 343 150 Sub.totAI forTow 366 U1W8 Fund. Chlldren And Youth W Reslricled 232 232 Sub-total for U18's Fund 868 5.189 6.151 We•k•nd. Chur¢h ￿￿kend Restr R8sththéd 641 641 2.745 2,745 4.668 4.868 3.827 3.827 2.545 2.545 sub.total for Weekend Gland total 978 139 977 978 Analysis of material transfers between funds - 2023 IDS h0trdekee￿n9 111Q112023 Conlrit)ubDn to Interior D8waUNJ Scheme account Contribution to In18ri0r Decordlin9 Schernè accC￿nI Donalion by OWLS far use ofchurch cent 500 IDS Re5 IDS hausekeepinu Tran¥l8r to gener nd Transl¢r lo general fund TRnsf8rtoorgan fund Transferloorgan 1110112023 General Unr 1310712023 General Donation byOWLSfor use olchurth centre fa￿lthes 1310712023 OWLS 0911112023 1,129 Correctiye Ilartsfer General Unr 0911112023 1,129 Correctwe Irarofer Transfèrio church weekend fiJnd Transferlo church weekend fund Tfansf#rlD church weEkend Tran$ferio 0mmur￿ty fund Transfer lo chvff Y￿ekend fund Transf8TIo r(murMty fund Organ ?1111I2023 1,955 CorreclNotr8tsfer Weekend 1311112023 1.955 Correcti¥etran8fer Unr 1411112023 1.8r2 CoFreGtivelran5fer Weekend 1411112023 65 corre￿¥&Ir8ns16r General 1.872 Coffective tran51sr Genera 1411112023 Corrective Iran5fer Communty Page 18

T￿nsfert¢ community fund Trdnsferto ¢omrnuntyfund LDBF T￿sfer10 fi¢x¥er 1611112023 Re8llo¢atiDn ra ev8nts Gen&ral Unr 1611112023 250 Reallocation fv evethts Comtnunity General 2111ir2023 500 TFR FROM 6501 TO 6505_ Gen lo IDS Unr 0111¥I023 1,OCrf) Pmlston forflowers etc ap￿e￿ by PCC Genernl Unr Tran5ferlo flower fund Transferlo fund Transferto g￿er81 fund Inter8St lo ¢orr8¢t fund Interest to correct fund 0111212023 1,WO Provision forllowers eic apwoved by PCC Aower Res s111212￿23 150 Contribut￿￿ from tower tund lo chJrch heating Tower Re5 31112r2023 150 Conlribul*)n from lower ￿n￿ lo ¢￿￿r¢￿ he8￿ng General Unr 3111212023 38 TTansfer fv)m Gen to Tolet-6510 Genewal Unr 31112r2023 36 Transter from Gen to Yollet- ￿10 Tofiet LDBF 2111112023 500 TFR FROM 6501 TO 6505-Gen to IOS IDS 7.559 7,559 Analysis of income and expenditure Total Unrestricted De51 nated RestrÉ¢ted Endowment Thi5 ear Last vear RECEIPTS Donatlons and It9aci•$ Gift ￿d- Bank Glft Md- Enve￿￿$ While ad.hor envelope5 Glft ￿d- Giwng Direct Paypall8raintr88 giving Non-Gift Aid 8ank Non-gift aid envelopes Loose ￿ale collections Asian Congwalion GolleGtion ontsdless Giving Giving through church boxes One-off Git Aid gifts Donatlons appeals elc Chur¢hyard bee prolect donations Hetitsgo projec15 donations Tax recoverable on Grft Aid Tax recoverable on VAT Legacies Re¢urring grants Non-recurring one-off grants Feasibility Study Grdnts Otherfunds genÈratÈd OWLS coll￿tIOnS stay & Playlyoung children income Donations and legacies Totals 51,590 2.026 279 30 508 6.437 1.134 5.392 4.278 8.173 51,590 2.026 279 30 508 6.437 1.134 5.392 4.276 8.173 S8,943 2.$41 169 15D 103 7.174 1.565 5,715 2,433 3.485 119 1,698 518 160 130 160 SD 17.882 3.295 50 113 19.120 1.790 5,176 5,000 7.130 2.500 2,252 17.862 1.095 2.200 500 9.500 500 11.332 1.832 1.629 133 1,501 2,177 16.191 1,762 1,501 2.412 1,845 119.370 131.363 235 103.179 In¢tsm• from charltablo actlvitles (St Mathew'5 Church) Community choir subscriptions Weekend Away Income Fee5 for weddings and lunerals In¢ome from ¢harilablg aclivities Totals 482 11001 5.595 5,977 5.734 544 6,278 5,634 6,139 12,255 4.205 5.234 9,902 Page 19

Other tradln9 activities 1st Matthew'5 Church) Concert and Other event admission cent￿ Income- Refreshments Centr8 Income- Projector Centra Income- Olher Centre Incorne- Main Hall Hirp Centr8 Incorne- Lower Hall Hi Centre Income- Blue RoL>rn Hire Centre Income- Millard One Hire Cenlre In¢ome- Gr8en Room Hi othertradlng adlviths Totafs 1,196 12 1,196 12 3,541 1381 7,106 23.399 8,181 3.031 1,018 1241 48,214 211 79.307 10,936 12.968 2,714 2.311 49.654 211 19.307 10.9 12,968 2,714 2.311 49.854 Inve$trnents ISL MatlheW5 Cantrel Dividends Bank and buildSng society interest Inv¢$tm•nts Totals 1,629 1.629 201 1,830 1.571 13911 1.1BO 43 43 158 158 1.629 Other income ISL Matthew'5 Centre. St Matthe%Vs Churthl Miscellaneous incomg JAMlafter-school ¢hildren's dub ine<The Tower incom8 68 115 199 1.493 1,692 199 1,493 1,760 Other In¢omo Totals 68 115 Rec*lpts Grand total$ 158,921 1,629 24.319 184.870 188.774 PAYMENTS Ralslng lund5 Costs offetes & other events 150 15LI 1.493 1,493 1.643 4,144 4,144 Ralslng funds Totals Expenditure On charitable actlvitiÈs (St Matthew's Church) Overseas Charitable Giving Home mi8sion and charilat4e giving Church Weekend outgoings Common Fund Salary of Operations Assistant Salary of Finance orri¢er Salary cf U18s worker Payrnent for under 5's Wother Salary- Operations manager Salary- Admin Cost Expenses- Rector Expenses- Curate Expenses- Babies. Children and U18s workgr EX￿nSeS- Operations manager Expenses- Operations manager Expenses- Finance officer Rectorf5- telephone Education ancl homegfOUP resour¢es Parish trainirE and Mission Church running- insurance Church Office- telephone Church Internet- BT Organ iuning Church maintenance Churth Cleaning Upkeep of services Refreshments Wedding anrl luneral eKtras 5.832 5.433 5,832 5,44 4,656 29,608 10.336 10.346 945 4.460 34,495 188 1,180 5,950 4,603 4.668 35.845 14 4.856 29.608 10,336 10,346 8.117 2,480 3.294 27,858 945 4,460 34,495 1.1BO 2,214 831 377 240 80 217 765 217 10 103 504 14 9.081 103 536 14 9,081 327 894 531 7.394 246 1201 1,069 3.192 489 3,331 509 33 1,078 593 1.347 283 2,174 450 503 1.078 593 1.347 283 2,174 450 1,043 540. Page 20

Churchyard maintenance Church Office Costs Church Printing costs Wisiling 5peaker5 1 locurns Subscriptiens & Licen￿8 Tower expenses Church iunning- eleGtricity Church running- gas Church running- wat8r OWLS Costs cent￿ Running- ￿fte1 Cate￿ng Centre Running- Calefing Suppli8S Centre Running- eleclrKity Cenlre Running- gas Centre Running- insurance Routine maintenance Centre Running- Centre & Garden mainten Centre Running- cleaning and c2relaklng contract Centre Running- other cleaning costs Centre Running- reftise collection Centre Running- Other Centre Running- office costs Centre Running- waler Centre Running-lift Maintenance Governance costs examinalonlaudll fee Church major ￿palF5- slruGture Herftsge projects expendilur ¢hur¢h major repair5- instsllation Church interior and exteaor decorating Centre + major repaI￿- stnjclure Centre * major repairs- installation Other PCC property upkeep Feasibility Study Costs Expendlture on charltablè a¢dvltl¢$ Total$ 85 1,916 1,652 85 1.916 1,652 10 2,411 1,980 65 2,972 60 862 12.461 220 1,12Q 241 2,798 268 432 3,066 432 2,139 6,588 252 2,250 28 216 3.933 6.412 1,789 1,173 1,274 5,742 1,248 977 539 1,611 544 984 625 13,200 2,139 6,588 252 2,250 28 216 3,933 6.412 1.789 1,280 1.274 5.742 1,248 977 539 1,611 544 3,546 6,325 2,470 630 102 4.327 472 916 3,632 2.221 932 1.038 174 1.920 108 7.000 625 13,200 478 200 200 950 1.520 179 1,520 839 2.280 189,370 176.143 660 2,280 31,187 1,167 158,183 Othèr oxpondlture (St Matthev/s Church) Other staff and volunteer costs Salary- Director of Music JAMlafter-school children's Club expenses Pub11city expenses Misce112neous expen5e5 Church Flower5 Churchyard be& project expendtture Other 8xp8ndlture Totals 590 6,865 590 6,865 252 794 525 252 57 9.335 8.292 252 794 525 803 343 252 57 8.831 504 7,438 Payments Grand tota15 167,164 33,184 200.348 187.725 Allocation of Support Costs Support costs comprisc Trustee Training and Governance Costs ¢1¢. Due lo the natt￿e of the ftnancial activities of tbe PCC thesc would be allocated across Charitable Expendi￿re which comprises the majority of its expenditure and as such are automatically ¢harged there. Page2J

Staff Costs 2024 2023 Wages and salaries Employers National Insurance Employers Pension Contribution £56,119 £3.232 £801 £35,671 £2,212 £565 Average number of employees During the year tbe PCC employed an Operations Maiiager (full time). an Operations Assistant. a Finance Officer, a Young Children and Families Worker. a Youth Worker and a Director of Music (all port-time). There were no employee benefits for key management personnel in the previous or current year. The PCC uses the Natlonal Employment Savings Tn2St (NEST) via the Diocesan Payroll Scheme. for its pensiou payments. The highest paid member of staff earned £27,511 (2023.. £25.069). Trustees, Remuneration & Expenses and Related parties As ex-officio trustces, Ihe Rector has been paid travel and phone expenses of £523 (2023.. £1.605) during the year. During the year a wife of a tNstee was paid £4,460 (2023.. £3,294) in her role a5 a Children's and Farnilies worker. The trustee left the PCC m¢eting when his wife's employment was discussed. No other payments of expenses We￿ paid lo any other PCC member or pcr50ns c105ely connected to them. or related parties. Donalions from related parties (PCC members) totalled £l8.035 {2023.. £18,446). Fees for the examination of the accounts 2024 £210 nil 2023 £174 nil Independent Examiner's fee Other f¢¢s paid to the Indep¢ndent Exatniner Page 22

Tangible Fixed Assets Designated Fund Unrestricted Church Equipment 2024 None 2023 None Designated Freehold Buildings £834,234 £834.234 Net Book Value at 3151 Dec 2024 £834234 £834,234 The freehold building comprises the original Youth and Cotnmunity Centre complex, whieh was originally valued by the PCC at I" January 1997 at £60,000 based on approxin]ate rebuild eost. Additions since 2003 have becn the cost of ¥efvrbishing thc original complcx and converting it to thc St Matthcw's Centrc. In the opinion of the PCC this should be valued at its approximate rebuild cost of £834,234. Fixed Asset Investments Desigiiated Friiid Atl" Jan Additionl (Disposal) Change in market value At 31st Dec COIF Ethical Investment Fund Accumulation Units £2,983 £169 £3.152 COIF Cbarities Property Fund Income Units £39,108 £2.324 £41,433 Total £42,090 £2,493 £44,585 Current Assets Debtors 2024 2023 Unreslricted Gift & GASDS r¢¢ov¢rabl¢ Centre Income Church Income £16,594 £2,081 £128 £1,757 £2,957 Restricled Agency Other Debtors (£506) £220 Totals £18,297 £4,934 Page 23

Liabilities Amounts falling due in one year 2024 2023 Unrestricted Accruals Other creditors Centre Creditors £2,255 £2.390 £26 Restricted Agency balan¢¢s £1,147 £1,575 Tota £3,428 £5,780 Page 24

The Parochial Church Council of Walsall St Matthew Financial Statements for the Year Ended 31" December 2024 Statement of Flnancial Activities forthe year ended 31 December2023 Unrestrloted Re¥trict8d Endowment lund5 funds funds Tot81 Prloryear funds total funds R•¢•ipts Donations and legac4&S Income from chantable acuvtheg Other IF4ding acbvrttes Investments her income Total In¢¢mo 121.515 7,157 46,214 1,Q55 9,847 2,745 131,363 9.902 4fj.214 157,828 5.804 31.599 1.367 125 176.QJ6 12.737 1BB.774 196,62S Payments R•sing funds Expenditure on Charblab￿ actswU88 Olherexpendilure Total exp•ndituro 4,144 157,819 863 162,826 4.144 182.435 1.146 187,T25 1.992 172.519 1,567 176.ts77 24.616 24.199 Not In¢omll•xpondlturo1 r•sou¥¢os bpforvtransfer 11210 112.1621 11.0481 20.547 Transfèrs Gross lrnn¥fer¥ iElweenfvnds- in Gross trdnsfers ts￿￿eenfUnds-￿rt Other recogThls4d g31ns I lo$so$ GairtsAosses on Investment asseis G7ins on revaluaiion. fixed assèts. chadty own u88 N¢t m¢)vomont In fvnds 565 18.4941 7.059 17.0591 22.924 122.9241 15651 11.2091 11.2091 18.6501 6.072 163331 11.987 Totsl funds brought for¥iard 9D9,734 68.406 978,139 966,242 Total funds carried forwArd 915,806 62,173 977.978 978.139 Page 25