2023-12-31-accounts - The Parochial Church Council Of The Ecclesiastical Parish Of St Peter & St Paul, Coleshill

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COLESHILL PAROCHIAL CHURCH COUNCIL

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

COLESHILL PAROCHIAL CHURCH COUNCIL

CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2023

	Page
Report of the Parochial Church Council	1 - 2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 - 10

COLESHILL PAROCHIAL CHURCH COUNCIL

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Administrative Information

St Peter & St Paul's Church is situated in Coleshill. It is part of the Diocese of Birmingham within the Church of England. The correspondence address is the Vicarage, High Street, Coleshill, B46 3BP.

The PCC is a charity that registration with the Charity Commission in January 2017

During the year the following served as members of the PCC:

Ex officio

Elected members

Incumbent

Rev. Sarah Tillett ( appointed September 2023) Mr Gert Bakker Mrs Kit Bramley Mrs Denise Davies Mrs Angela Davies ( Secretary) Mrs Nanette Gallai Mrs Rachel Glaser Mrs Clarie Hudson Mrs Abby Jeyes Mrs Kath Tarver Churchwardens Mrs Nanette Walker

Mrs Deborah Leary

Mrs Julie Murphy ( Treasurer)

Deanery Synod Representatives

Mrs Liz Maxwell Mrs Juliet Bakker ( Lay Reader) Mrs Marjorie Scott

Structure, Governance and Management

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. All church attendees are encouraged to register on the Electoral Roll and stand for election at the PCC.

Objectives and Activities

The PCC has the responsibility for co-operating with the incumbent in promoting the whole pastoral, evangelistic, social and ecumenical mission of the church in the ecclesiastical parish. It is also responsible for the maintenance of the church.

Achievements and Performance

There are currently 103 parishioners on the Church Electoral Roll.

Review of the Year

During the year the unrestricted funds of the PCC increased by £20697 and the restricted funds increased by £31293

Reserves

Reserves at 31 December 2023 totalled £144,035. These comprise unrestricted funds of £85,995 and restricted funds - primarily to cover the re-ordering and restoration project and youth education projects - of £ 58,040.

Page 1

COLESHILL PAROCHIAL CHURCH COUNCIL

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Risk Management

The members of the PCC confirm that they have carried out a risk management review and continue to monitor major risks to which the charity may become exposed.

Public Benefit

The trustees of the charity are aware of the Charity Commission’s guidance on public benefit in The Advance of Religion for the Public Benefit and have had regard to it in their administration of the charity.

The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of Coleshill, the PCC helps to promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, within the Ecclesiastical Parish and that, in doing so, it provides a benefit to the public by:-

 Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wishes to benefit from what the Church offers;

 Promoting Christian values and service by members of the Church in and to their communities, to the benefit of individuals and society as a whole.

Parochial Church Council responsibilities

The members of the PCC acknowledge their responsibilities for :-

(a) Ensuring that the PCC keeps accounting records which comply with the Charities Act 2011 and the Church Accounting Regulations 2006;

(b) Preparing accounts which give a true and fair view of the state of affairs of the PCC as at the end of each financial year and its financial activities for each year in accordance with the requirements of the Charities Act 2011 relating to financial statements so far as applicable to the PCC.

This report was approved by the members of the PCC on 26th May 2024 and signed on their behalf by:

............

Treasurer

.............. Church Warden

Page 2

INDEPENDENT EXAMINER'S REPORT

TO THE MEMBERS OF COLESHILL PAROCHIAL CHURCH COUNCIL

I report on the accounts of the Charity for the year ended 31 December 2023 which are set out on pages 4 to 10.

Respective Responsibilities of Trustees and Independent Examiner

As trustees of the charity, the members of the PCC are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:

h examine the accounts under section 145 of the 2011 Act;
h follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
h state whether particular matters 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 seeking explanations from you as 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 matters have come to my attention:

1: which give me reasonable cause to believe that in any material respect the requirements
h to keep accounting records in accordance with section 130 of the 2011 Act; and
h to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act,

have not been met; or

2: to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

D Perks

Water Orton Birmingham

Date: 8th April 2024

Page 3

COLESHILL PAROCHIAL CHURCH COUNCIL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note Income Donations and legacies 2 Activities for generating funds Fundraising Income from investments Charitable activities Fees Total income Expenditure Church activities 3 Total expenditure Net income/ (expenditure) Unrealised Net gains/(losses) on investments 5 Transfer between reserves Net movement in funds Balances brought forward at 1 January 2023 Balances carried forward at 31 December 2023	Unrestricted funds £ 34,183 3,377 3,358 9,582 50,500 44,065 44,065 6,435 9,757 4,505 20,697 65,298 85,995	Restricted funds £ 38,091 - 282 - 38,373 2,575 2,575 35,798 - (4,505) 31,293 26,747 58,040	Total 2023 £ 72,274 3,377 3,640 9,582 88,873 46,640 46,640 42,233 9,757 - 51,990 92,045 144,035	Total 2022 46,387 3,166 3,152 11,568 64,273 54,811 54,811 9,462 (13,648) - (4,186) 96,231 92,045

The notes on pages 6 to 10 form part of these accounts

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COLESHILL PAROCHIAL CHURCH COUNCIL

BALANCE SHEET AS AT 31 DECEMBER 2023

Note Fixed assets Investments 5 Current assets Deposits & bank balances 6 Liabilities Amounts falling due within one year 7 Amounts falling due after more than one year 8 Net current assets Net assets Funds Unrestricted Restricted 10	2023 2022 £ £ 112,569 102,812 70,585 34,282 70,585 34,282 (7,955) (9,380) (31,164) (35,669) 31,466 (10,767) 144,035 92,045 85,995 65,298 58,040 26,747 144,035 92,045

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

These financial statements were approved at the Annual General Meeting of the Parochial Church Council and signed on its behalf by:

Mrs J Murphy Date: 26th May 2024 Treasurer

The notes on pages 6 to 10 form part of these accounts

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COLESHILL PAROCHIAL CHURCH COUNCIL

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014 and the Financial Reporting Standard for Smaller Entities.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets which are shown at market value. The financial statements include all transactions, assets and liabilities 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 informal gatherings of church members.

Funds

Unrestricted funds represent the reserves of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purpose of the PCC.

The restricted funds shown in the balance sheet comprise monies earmarked for internal renovations and reordering of the church, the use of which is at the discretion of the PCC , together with funds held in the Digby Trust account that are under the control of the PCC and are designated to be used for educational purposes.

Incoming resources

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received.

Income tax recoverable on Gift Aid donations is accounted for when received.

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due is quantifiable and its ultimate receipt by the PCC is certain.

Dividends and interest are accounted for when received.

Resources expended

Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the PCC. The Diocesan parish share is accounted for when due. All other expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed assets

Consecrated and beneficed property of any kind is excluded from the accounts by S10(2) of the Charities Act 2011.

Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are not valued in these accounts. They are listed in the Church's inventory. For inalienable property acquired prior to 2003 there is insufficient cost information available and therefore such assets are not valued in the accounts.

Investments

Investments are valued at market value at 31 December 2023

Current assets

Short term deposits are held either with the CBF Church of England funds or at the bank.

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COLESHILL PAROCHIAL CHURCH COUNCIL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

2 Donations and Legacies Planned donations Income tax recovered Plate collections Charity collections Special service Other donations Legacy Donations for Re-ordering Campaign Grants / Funding Awards Donation from Maxstoke PCC Donation from Parish trust fund Youth Education Trust - Donation 3 Church activities Charitable giving: Christian aid Revive / Rev Chris Childrens society Unicef Water Aid Artic church Ministry: Diocesan parish share Service costs Church: Organist Office staff costs Office costs, printing & Stationery Heat, Light & Water Insurance Vicarage costs Building maintenance/font cover Cleaning Consultant cost - reordering Sundries loan interest	Unrestricted funds £ 14,774 3,987 3,726 1,222 1,216 5,377 - - 1,274 2,607 - - 34,183 Unrestricted funds £ 275 863 158 786 - 100 5,000 1,453 2,278 7,769 4,039 4,869 5,614 4,925 3,599 2,077 - 260 - 44,065	Restricted funds £ - 338 - - - - 11,288 300 - - 20,000 6,165 38,091 Restricted funds £ - - - - - - - - - - - - - - 915 - - - 1,660 2,575	2023 £ 14,774 4,325 3,726 1,222 1,216 5,377 11,288 300 1,274 2,607 20,000 6,165 72,274 2023 £ 275 863 158 786 - 100 5,000 1,453 2,278 7,769 4,039 4,869 5,614 4,925 4,514 2,077 - 260 1,660 46,640	2022 £ 17,683 6,769 4,220 388 1,786 4,516 - 1,490 2,470 900 - 6,165 46,387 2022 £ 316 950 - - 72 - 18,000 3,254 1,565 6,684 3,508 5,866 5,228 24 3,777 2,108 1,300 325 1,834 54,811

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COLESHILL PAROCHIAL CHURCH COUNCIL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

4 Staff costs Wages - Organist and administrator 5 Investments Market value at 1 January 2023 Unrealised gain/(loss) on revaluation Market value at 31 December 2023 The following is a summary of investments held: CBF Investment Fund income units (4979.79 shares) 6 Deposits & bank balances Central Board of Finance Deposit Fund Barclays current account Barclays Campaign account 7 Liabilities falling due within one year Diocesan Loan Accruals 8 Liabilities falling due after more than one year Diocesan Loan	2023 £ 10047 2023 £ 102,812 9,757 112,569 2023 £ 112,569 2023 £ 11,059 8,343 51,183 70,585 2023 £ 5,835 2,120 7,955 2023 £ 31164	2022 £ 8,249 2022 £ 116,460 (13,648) 102,812 2022 £ 102,812 2022 £ 7,700 6,404 20,178 34,282 2022 £ 5,835 3,545 9,380 2022 £ 35,669

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COLESHILL PAROCHIAL CHURCH COUNCIL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

9 Analysis of restricted funds Campaign - reordering 10 Analysis of net assets by fund Investments Current assets Current liabilities	B/fwd at 1 Jan 2023 £ 26,747 26,747	Incoming resources £ 38,373 38,373	Outgoing resources £ (2,575) (2,575) Unrestricted funds £ 112,569 12,545 (39,119) 85,995	transfer to unrestricted £ - (4,505) (4,505) Restricted funds £ 58,040 - 58,040	C/fwd at 31 Dec 2023 £ - - 58,040 58,040 Total 2023 £ 112,569 70,585 (39,119) 144,035

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COLESHILL PAROCHIAL CHURCH COUNCIL

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

10 Statement of Financial Activities - comparatives

Income Donations and legacies Activities for generating funds Fundraising Income from investments Charitable activities Fees Total income Expenditure Church activities Total expenditure Net income/ (expenditure) before gains/ (losses) on investments Net gains/(losses) on investments Tranfser between reserves Net movement in funds Balances brought forward at 1 January 2022 Balances carried forward at 31 December 2022	Unrestricted funds £ 37,143 3,166 3,145 11,568 55,022 52,977 52,977 2,045 (13,648) 4,331 (7,272) 72,570 65,298	Restricted funds £ 9,244 - 7 - 9,251 1,834 1,834 7,417 (4,331) 3,086 23,661 26,747	2022 £ 46,387 - 3,166 3,152 - 11,568 64,273 54,811 54,811 9,462 (13,648) - (4,186) 96,231 92,045

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