## **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
Page 4
## **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
Page 5
## **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.
Page 6
## **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|
|---|---|---|---|---|
Page 7
## **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|
|---|---|---|
Page 8
## **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|
|---|---|---|---|---|---|
Page 9
## **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|
|---|---|---|---|
Page 10