The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Annual Report and Financial Statements
Year Ended 31 December 2022
Charty rogistration number.. 117Q768

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Contents
Trustees, Report
1to6
Reference and Administrative Details
Statement of Trustees, Responsibilities
Independent Examinerfs Report
S¢alemenl of Financial Activities
91010
8alance Sheet
11
Notes to the Financial Slalemenls
12to22

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Trustees, Report
The trustees present the annual report together with the finaneial slalements of the charity for the year
ended 31 December 2022.
Structure, governance and management
All Saints Church Highertown IASHI is part of the Diocese of Truro, within the Church of England. The
PCC is a body corporate IPCC Powers hAeasure 1956, Church Representation Rules 20061 and a
charty registe￿d with the Charity Commission on 3 September 2018 Icharity number 11797881.
The activities of ASH are overseen by the PCC. meetings are held in accordance with the Church
Representstion Rules. The PCC is responsible for the financial administration of the Church, and the
care and maintenance of the Chur¢h premises of All Saints Highertown IASHI and the churchyard in
Baldhu.
The PCC has no related trusts or charities.
The appointment of PCC members is governed by and sel out in the Church Representation Rules.
PCC members are the trustees of the registered charity during their period of service on the PCC.
The PCC meets al least six limes during the year. It is recognised that the PCC has ultimate
responsibility for a wide rangè of matters affecting the parish and Officers are nominated from within
the PCC lo cover specific areas including Safeguarding, Equality and Heakh & Safety.
Publlc benefit
The PCC is aware of the Charity Commission's guidance on puljlic benef([ in The Advancement of
Religion for the Public Benefit" and has regard to it in the administration of the Church. The PCC
believes that the Church provides benefit lo the public by..
Providing resources and facilities for public worship, pastoral care and spiritual, moral and
intellectual development, both for the congregation and lor anyone else who wishes to benefit from
what the Church offers.
Promoting Christian values and service by members of the congregation lo the community, for the
benefrt of individuals and society as a whole.
Objectivès and activities
Objects and aims
The primary object of the PCC is the promotion of the Gospel of our LorLI Jesus Christ according to
the doctrines and practices of the Church of England.
The PCC is lo co-operate with the minister in promoting in the parish the whole mission of the
Church. pastoral, evangelistic, social and e¢umenical. IPCC (Powers) Measure 19561.
Page 1

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Trustees, Report (continued)
Ob'ective
ear
As a local congregation of the Church of England, ASH seeks lo advance the Christian religion
through its aelivilies and the facilities offered lo the community by i(s buildings.
We continue lo host vital community seNices such as the Cornwall Children's Clothes Bank, Truro
Foodbank and the financial crisis support service, Acts 435.
The PCC seeks lo gwe a tenth of rts income lo other charitsble causes, currently this is achieved by
providing accommodation al reduced or no cost.
Page 2

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Trustees, Report (continued)
Achievements and performance
The full PCC mel eight limes during the year.
Dunng the year ASH has acted as a ¢enlre of worship and as a focus of community activty in the
parish of All Saints Highertown and Baldhu.
Funds continue lo be raised towards the Lifehouse project. The project was re-evaluated due to the
substantial incr03s0 in costs rosulting from Brexit and Covid. A furthèr value •ngineèring gx8rcise is
being undertaken and a reduced design will be submitted for planning pemiission earfy in 2023.
Over £9,000 raised online to help over 70 people through our Acts 435 advocate team.
Congregation and Services
our cong￿gatIonS havè grown a little over this last year, with the
continuing return of some of our congregation posl-covid. and by welcoming some new members too.
Average attendance al the 10.30 service is now c. 55 and the congregation al the 9am service
fluctuate5 between 6 and 12. We have continued the regular pattem of services which includes Family
Communions on the 1 st and 3rd Sundays al 10.30arn, and non-Eucharislic family friendly services at
10.30am on the 2nd and 4th Sundays when there is also a 9am Communion Service.
We have had our usual array of Special Services throughout the year wlh a Carol Service (supported
by Truro Male Voice Choirl, Chrislingle. Ash Wednesday Communion, Maundy Thursday Fool
Washing and Communion. and the Hour al the Cross on Good Friday. New for this year was a series
of Prayer and Praise evenings in Lent and a Dawn SeNice at Loe Beach, which was well attended
and a wonderful celebration of Easter. We also both moumed the death and celebrated the life and
reign of our late Queen. Elizabeth 11.
Prayer, Quiet Days and PCC Away Day. This year, we have priorilised prayer as f( is a vital part of the
church's life, underpinning all we do. We have a strong Church Prayer Group meeting on Thursday
mornings and pray together for the church. rts community and ils work., for wider national and
inleinational issues", and for each other. BLJt in addition, we held two encouraging Days of Prayer lo
seek God's guidance for a way forward for our church in September. A PCC Away Day followed in the
New Year. where we looked al a nurnber of questions and considered what we should be working
towards.
Small Groups and Home Groups. During the Autumn lemi, we ran an Alpha Course, which has been
followed up with a Post Alpha Home Group. A regular Bible Study Group Is held at church each
Wednesday where a small bul enlhusiaslic group dig deeper into the bible together. An Advent Group
was held which enthused rts membership lo pul on a special café church service on creation care and
celebrated our Silver Award. And, n8w this year. is a Book Group.
More Change and the future. We were lo experience MO￿ change and shock during the year wlh the
departure of our Priesl-in<harge and of the transfer of the Transforming Mission Team lo the
cathedral.
Pag8 3

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Trustees, Report (continued)
The Investmentpolicy and objectives
We bank wrth the Lloyds Bank plc and the Co-operative Bank plc. The ethical policy is as follows..
.Human Rights
We wish lo ensure that money does not go to support oppressive regimes
governments that fail lo respect the basic political rights and civil liberties of their citizens.
.Internalional Development
We expe¢l businesses to respect the Core Conventions of the
International Labour Organisation on issues such as child labour and freedom of association.
.Ecological Impad - We consider the Issues of climate Change, waste, bicmjiversily loss and the
release of hamful chemicals as enwronmenlal imperatives.
.Nanolechnology - There are wncerns around ils impact on human he0￿h and the environment.
.Animal Welfare We will not finance any organisalion involved in animal testing of cosmetic or
household products or their ingredients, intensive farming, blood sports or the fur trade.
Plans for future periods
Aims and key objectives for future periods
As we move forward into another year. our priorities will be lo work together lo build and strengthen
our fellowship, by creating more Home or Small Groups and providing opportunities to socialise
together. To deepen our faith further, we plan lo eonlinue lo offer a programme of varied courses.
regular Prayer and Praise Evenings. and the introduction of a monthly Café Church.
Financial review
Unreslricled income has incre8sed by 43% to £74,658 12021 £52,188). Wrthin this figure
Congregational Giving increased from £46.481 to £55,730 and Hall Income from £4,227 10 £11,495 -
the laller reflecting welcome increased usage.
Unreslricled expenditure increased by 260/0 to £5S,368 12021 £43.9171 partly as a result of
Incumbent salary and costs being passed through the charity accounts. During the year the PCC look
the decision lo suspend MMF contributions to the Diocese which resulted in only £7,185 being paid
12021 £21.5541.
Overall, Unreslricled Funds showed a net surplus of £19,29012021 £8,2711
Reslricled Funds income lotalling £29.162 was re￿iVed in respect of the Lifehouse Project with
expendtture lotalling £43,280. The Restricted Funds figures also include Transforming Mission
activities (salaries and expenses) reimbursed by Truro Diocese.
The Balance Shoel shows an overall defici( of £68.76012021 £74,782). However, the Diocese have
agreed lo defer repayments on the £150,000 loan until April 2025.
Policy on resgrv8S
The Policy for the General Account is lo maintain reserves at the level represented by 6 months,
estimated expenditure, excluding expenditure on meeting the Diocesan Mission and Ministry Fund
liability and any charitable giving.
Pagè 4

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Trustees, Report (continued)
Reference and Administrative Details
Incumbent
Revd Jeremy Pulman (Resigned 25109120221
Trustees I PCC members
Revd Janette Mullett
Revd Patri¢k Gilbert
Revd Mary Cruddas
Debbie Mitchell
Jane Tomlinson (Chairl
Rowley Surridge
Andrew Polhecary (Resigned 24104120221
Dorcas Cuddeford (Resigned 24104120221
Dol Webb
Irene Mortimer
Emily Polhecary IResigned 24104120221
Gyl Grundy
Mary Crawford (Resigned 01102120221
Hamilton Cruddas
John Mrtchell OBE
Roger Chilman (appointed 2410412022}
Jean Cooke
Lynne Bray lappoinled 24104120221
Christine Dayus lappoinled 2410412022}
1179768
Charlty Reglstratlon Numbgr
Principal Office
All Saints Church
Tresawls Road
Truro
TR1 3LD
Independent Examiner
Francis Clark LLP
Chartered Accounlanls
Lowin House
Tregolls Road
Truro
Cornwall
TR12NA
Page S

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Trustees, Report (continued)
The annual ￿port was approved by the trustees of the charity on
behalf by.
-2.land signed on i(5
Jane Tomlinson Ichairl
Trustee
Page 6

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Statement of Trustees, Responsibilities
The Iruslees are responsible for preparing the Iruslees, report and the financial statements in
accordance wrf(h the United Kingdom Accounting Standards Iuniled Kingdom Generalty Accepted
Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Iruslees lo prepare financial slalemenls for each finanaal
year which give a true and fair view of the stale of affairs of the charity and of the incoming resources
and application of ￿sOUrCeS of the charity for that period. In preparing these fi'nancial stalements, the
trustees are required to..
sele¢l suitable accoLJnting policies and then apply them ¢onsislenlly',
observe the methods and principles in the Charrties SORP.,
make judgements and estimates that are reasonable and prudent.,
slate whether applicable accounting stsndards have been followed. subject to any material
departures disclosed and explained in the financial stslements", and
prepare the financial statements on the going concern basis unless rt is inappropriate lo presume
that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy al any time the financial position of the charity and enable them lo ensure that the financial
statements comply with the Charities Act 2011, the Charrties (Accounts and Reports) RegulalDns
2008. and the provisions of the constitution. The trustees are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
The trustees are responsible for the maintenance and integrity of the financial information included on
the charity'5 website. Legislation governing the preparation and dissemination of financial slalemenls
may differ from legislation in other jurisdiction5.
Approved by the trustees of the charity on
and signed on ils behalf by..
Jane Tomlinson jchairj
Trustee
Page 7

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Independent Examiner's Report to the trustees of The Parochial Church
Council of the Ecclesiastical Parish of Highertown and Baldhu
I report lo the Iruslees on my examination of the accounts of The Parochial Church Council of th8
Ecclesiastical Parish of Highertown and 8aldhu for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of The Parochial Church Council of the Ecclesiastical Parish of Highertown and
Baldhu you are responsible for the preparation of the accounts in accordance with the ￿qUireMentS of
the Charities Act 2011 I'the Act'i.
I report in respect ol my examination ol the The Parochial Church Council of the Ecclesiastical Parish
of Highertown and Baldhu's accounts carried out under section 145 of the 2011 Act and in carrying
out my examination I have followed all the applicable Directions given by the Chanty Commission
under section 14515llbl of the Act.
Independent ¢xamlner's statement
I have completed my examination. I confirm that no material matters have eome to my attention in
connection with the examination gwing me cause lo believe that in any material respect..
1. accounting records were not kept in respect of The Parochial Church Council of the
Eccle5ia5tical Parish of Highertown and Baldhu as required by section 130 of the Act", or
2. the accounts do not accord with those records,. or
3. the a¢counts do not comply wrth the accounting requirements conceming the form and content of
accounts sel out in the Charities IAc¢ounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'lrue and fair view, which is not a matter considered as part
of an independent examination.
I have no cOn￿rnS and have come across no other matters in connection with the examination lo
which attention should be drawn in this report in order lo enable a proper understanding of the
accounts lo be reached.
Darren Perry ACA DChA
Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR12NA
Dale..
7 June 2023
Page 8

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Statement of Financial Activities
Year Ended 31 December 2022
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2022
Notg
Income and Endowment5 from-
Donations and legacies
Charitsble activities
Investment income
55,730
18,826
102
85,895
159
141,625
18.985
109
Totsl income
74,658
86,061
160,719
Expenditure on:
Chartsble activities
55,3681
99.329
154,697
Total expondilure
55,3681
99,329
154,697
Net incomellexpenditurel
19.290
13,2681
6.022
Net movement in funds
19.290
113,2681
6,022
Reconclllatlon of funds
Total funds brought fomard
42.822
117,6041
74,7821
68,7601
Total funds carried forward
16
130,872
The notes on paggs 12 to 22 fom an Integral part ol these financial ststements.
Page 9

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Statement of Financial Activities
Year Ended 31 December 2022 (continued)
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Comparative Ststement of Financial Activities for the year ended 2021
Unrestrictsd
Restricted
funds
funds
Total
2021
Nole
Income and Endowments from:
Donations and legacie5
Charitable activities
Investment income
46,481
5,705
170,683
217.164
5.705
Total income
52.188
170.683
222,871
Expendtture on..
Charitable activities
43,917
218,784
262,701
Total expenditure
43,917
218,784
1262,701
Nel incomellexpenditurel
Gross transfers between funds
8,271
1,428
148.1011
11,4281
139,8301
Nel movement in funds
9,699
149,5291
{39,830}
Reconciliation of funds
Total funds brought fO￿ard
33,123
168.0751
134,9521
Total funds carried forward
16
117,604
74,782
All of the charty's activities derive from continuing operations during the above two periods.
The funds breakdown for 2021 is shown In note 16.
Tha notes on pages 12 to 22 form an intagral part of thèsè financial statements.
Page 10

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Balance Sheet
31 December 2022
2022
2021
Note
Current assets
Debtors
Cash al bank and in hand
10
7,074
84,380
11,764
78,354
91,454
90.118
Credltors: Amounts falling due withln one year
12
10.214
14,900
Total assets less current liabilities
81,240
75,218
Creditors: Amounts falling dug after morg than one year 13
1150.0001
150,000
Net liabilities
68,760
74,782
Funds of the charlty:
Rastri¢ted income funds
Reslricled funds
1130,872}
1117,804}
Unrestricted income funds
Unrestricted funds
62,112
42,822
Total fund$
16
168.760
74,782
I slalements on pages 9 to 22 were approved by the trustees, and aulhorised for issue on
and signed on their behalf by..
.<a-
Jane Tomlinson (Chairl
Trustee
The nates on pages 12 to 22 form an integral part ol these financ4al staternent5.
Pag811

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022
1 Accounting policles
Statement of compliance
The financial statements have been prepared under the Church Accounting Regulations 2006 in
accordance with the second edition of the Charities Statement of Recommended Practice issued in
October 2019, the Financial Reporting Standard applicable In the United Kingdom and Republic of
Ireland IFRS 1021 and the Charities Act 2011. The financial slalemenls 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 affiliation lo another body, nor those that are informal gatherings of
Church members. The Charrty has taken advantage of the provisions in the SORP for charrties
applying FRS 102 not lo prepa￿ a Statement of Cash Flows.
Basis of preparation
The Parochial Church Council of the Ecclesiastical Parish of Highertown and Baldhu meets the
definition of a public benefit entity under FRS 102. The accounts (financial ststemenlsl have been
prepared under the historical cost convention with items ￿COgnised at Cost or transaction value
unless otherwise staled in the relevant notes to these accounts.
Going concern
The financial statements have been prepared on a going concern basis.
Consideration of the financial posrtion of the PCC is impacted by the £150,000 loan repayments
commitment within the Lrfehouse Project Fund. The PCC has fully re¢ognised this issue and lo ensure
the ongoing financial stability has-.
1. Agreed wlh the Diocesan Board of Finance Ihal loan repayments be deferred until April 30th 2025.
2. Suspended the voluntary contributions of £3,592.33 per month lo the Diocesan Mission and
Ministry Fund lo ensure that day lo day commitments can be fully funded from our current income
streams.
The PCC continues to monitor the financial position closety and there are no concerns over our ability
lo keep lo our financial commitments for 2023.
Income and endowments
Planned giving, collections and similar donations are Tecognised when due. Tax refunds are
recognised when the incoming resource lo which they relate is received. Grants and legacies are
accounted for when the PCC is enlilled lo the use of the resources, their ultimate receipt is considered
probable and the amounts due are reliably quantifiable.
Page 12

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
Deferred income
Deferred income represents amount5 received for future periods and is released to incoming
resources in the period for which, Il has been received. Such income is only deferred when..
The donor specifies that the grant or donalK)n musl only be used in future accounting periods., or
The donor has imposed conditions which must be met before the charity has unconditional
enlillemenl.
Expenditure
Grants and donations are accounted for when paid over, or when awarded, if that award creates a
binding or conslruclive obligation on the PCC. The Diocesan parish share expected lo be paid over is
accounted for when due. All other expenditure is generally recognised when il is incurred and is
8ceounled for gross.
Charitable activities
Charitable expenditure comprises those costs incurred by the charty in the delivery of ils activities
and servi¢es for its beneficiaries. 11 includes both costs that can be allocated directly lo such adiwties
and those eosls of an indirect nature ne¢ess8ry to support them.
Taxation
The charity is considered to pass the tests sel out in Paragraph 1 Schedule 8 of the Finance Act 2010
and therefore il meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempl from laxalion in respect of income or capitsl gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively lo charitable purposes.
Tangiblg fixed assets
Consecrated and benefice propety is not included in the accounts in accord8nce w(ch s.10{2llal and
Icl of the Charities Act 2011.
Other fixed assets are capilalised at 8 Cost over £3,000 and dep￿ciated on a slraighl line basis over 5
years
Current asset investments
Short term deposits include cash held on deposit with the CBF Church of England Fund$.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readity convertible lo a known amount of cash and are subject lo an
insignificant risk of change in value.
Pag8 13

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
Fund structur
Unreslricled income funds are general funds that are available for use al the trustees discretion in
furtheran¢e of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the
trustees.
Reslricled income funds are those donated for use in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
Financial instrum9nts
Classrficatlon
Financial 85sels and financial liabilities are recognised when the charity becomes a party lo the
contractual provisions of the inslrumenl. Financial liabilities are classified according lo the substance
of the conlraclual arrangements entered into.
Recognitlon and measurement
All financial assets and liabilities are initially measijred at transaction price (including transaction
cost51, except for those financial assets classified as al fair value through profil or loss. which are
initially measured al fair value (which Is normally the transaction price excluding transaction coslsl,
unless the arrangement Constitutes a financing transaction. If an arrangement Conslitules a financing
transaction, the financial asset or financial liability is measured al the present value of the future
payments discounted al a market rale of interest for a similar debt inslrumenl.
Financial assets and liabilities are only offset in the slalement of financial pos(tion when, and only
when there exists a legally enforceable right 10 Set off the recognised amounts and the charty intends
either lo settle on a nel basis, or lo realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when al the conlraclual rights to the Cash flows
from the financial asset expire or are settled, bl the charity transfers to another party substantially all
of the risks and rewards of ownership of the financial asset. or ¢1 the charity. despite having retained
some. bul not all. significant risks and reward5 of ownership. has transferred control of the asset to
another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged.
cancelled or expires.
Page 14

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
2 Income frorn donations and legacies
Unrestricted
Funds
Restricted
funds
Total funds
Donations and legacies.,
Planned Giving donations
Donations. appeals etc
Collections (open platel
Gift aid reclaimed
Grants, including capi181 grants".
Grants
Diocese grants
29,1SS
3,124
3,481
4,881
29,155
6,705
3,481
4,881
3.581
2,400
79,914
2,400
95.003
15.089
Total for 2022
55,730
85,895
141,625
Total for 2021
46,481
170,683
217,164
3 Income from charitable actlvltles
Unrestricted
Funds
Rèstricted
funds
Total funds
Church and hall hire income
Clergy fee income
Other income
11,495
3,716
3,815
11,495
3,716
3,774
159
Total for 2022
18,826
159
18,985
Total for 2021
5,705
5,705
Page 1S

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
4 Investment income
Unrestricted funds
Designated
General
Restricted
funds
Total
funds
Interest receivable and similar
income..
Investment income
19
83
109
Total for 2022
19
83
109
Total for 2021
S Expenditure on charitable actIvI￿e5
Activity
undertaken
directly
Total
2022
Total
2021
Mini51ry.' Diocesan parish share
Other ministry costs
Church running costs
Wages & Salaries (Project costs)
Staff expenses
Training
Admin expenses (Project costs)
Project fees
Payments lo Diocese
Church repairs & Maintenance
Professional fees
7,185
746
11,526
104.886
339
195
3.408
19,227
1.079
1,116
4,990
7.185
746
11.526
104,886
339
195
3,408
19,227
1,079
1,118
4,990
154,697
21.554
1,87Q
12,942
131,899
12,543
79,243
1,460
1,390
262,701
154,697
6 Net incomingloutgoing resources
Net incominglloutgoingl resources for the year include..
2022
2021
Operating leases other assets
Independent examiner fee
942
1.750
942
1,320
Page 16

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
7 Tru$tees remuneration and expenses
During the year the charity made the following transactions with trustees".
Revd Janette Mullett
Revd Janelte Mullett re¢eived remuneration of £32.025 12021." £Nill and £173 12021.. £Nill of
expenses were reimbursed io Revd Janette Mullett dunng the year.
Al the balan￿ sheet date the amount due Revd Janette Mullett was £Nil12021'. £Nill.
Revd Jeremy Putman IResigned 25109120221
£81 12021.. £Nill of expenses were reimbursed lo Revd Jeremy Pulman (Resigned 25109120221 during
the year.
Al the balance sheet dale the amount due Revd Jeremy Putman (Resigned 25109120221 was £Nil
12021.. £Nill.
No Iruslee5 have received any other benefrts from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows..
2022
2021
Staff costs during the year were..
Wages and salaries
Social secur((y costs
Pension costs
99,428
2,166
3,291
104,885
131,699
131,699
Employers social security and pension contributions were included in wages and salaries in the prior
year.
The monthly average number of persons (including senior management I leadership leaml employed
by the charity during the year expressed as full time equivalents was as follows..
2022
2021
No
Average head count
No employee received emoluments of MO￿ than £60,000 during the year
9 Taxation
The charity is a registered charity and is therefore exempt from tsxalion.
Page 17

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
10 Debtors
2022
2021
Prepayments
other debtors
293
6,781
11,764
7,074
11,784
11 Cash and cash equivalents
2022
2021
Cash at bank
Short-lerm deposits
78,830
5,550
70.674
7,680
84,380
78,354
12 Crgditors: amounts falling due within one year
2022
2021
Other laxalion and social security
Other creditors
Accruals
Deferred income
1.627
3,114
4.068
1,405
2,005
12,028
10,214
14,900
13 Credltors.. amounts falling dufr after one year
2022
2021
Other loans
150,000
150,000
Unsecured loan from Diocesan Board of Finance Ltd. The loan Is interest free with repayment due
from 30th April 2025.
Pag8 18

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
14 Obllgations under op9rating leases
2022
2021
Other
Within one year
Between one and five years
915
2,593
229
3,508
229
15 Pension and other schemes
The charity as an employer participates in the Pension Builder Scheme section of CWPF for lay staff.
The Scheme is administered by the Church of England Pensions Board, which holds the as5els of the
scheme5 5eparalety from Ih05e of the Employer and the other participating employers. The Church
Workers Pension Fund has a section known as the Defined Benefits S¢heme. a defèrred annuity
section known as Pension Builder Classic and a cash balance section known as Pension Builder
2014. The Pension Builder Scheme of the Church Workers Pension Fund is made up of iwo sections.
Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit
schemes. The charrty participates in Pension Builder 2014.
Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use lo
provide benefits al reliremenl. Pension contributions are recorded In an account for each member.
This account may have bonijses added by the Board before retirement. The bonuses depend on
investment experience and other factors. There is no requirement for the Board lo grant any bonuses.
The aceounl, plus any bonuses declared, is payable from members, Normal Pension Age. There is no
sub-division of assets bets￿een employers in each section Df the Pension Builder Scheme. The
scheme is considered lo be a mulli-employer scheme as described in Section 28 of FRS 102. This is
because il is not possible lo attribute the Pension Builder Scheme's assets and liabilities lo specific
employers and means that contributions are accounted for as if the Scheme were a defined
contribution scheme.
The pension costs charged lo the SOFA in the year are the employer and employee contributions
payable as follows..
Unrestrlcted
Funds
Restrlcted
Funds
Totsl 2022
Total 2021
General Funds (Admin)
Lifehouse Project
Transfom)ing Mission
273
273
577
1,296
4,713
6,009
1,296
4.713
2,240
7.060
273
6.282
9.877
Page 19

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent
was carried out as at 31 Oecember 2019.
The valLJation revealed a deficit of £11.3m on the ongoing assumptions used. At the most recent
annual review, the Board chose not lo grant a discretionary bonus, which will have acted lo improve
the funding position. There is no requirement for deficit payment5 at the current time For the Pension
Builder 2014 section. the valuation revealed a deficit of £4.8m on the ongoing assumptions used.
The￿ is no ￿qUirement for deficit payments al the current lime.
The legal structure of the scheme is such that if another employer fails, the charity could bewme
responsible for paying a share of that employer's pension liabilities.
16 Funds
Balance at 31
Decernber
2022
Balance at 1
January 2022
Incomlng
resources
Resourcès
expended
Unrestrlcted funds
General
General funds
41.393
74,639
155,3681
60.664
Designated
Fabric Fund
1,429
19
1,448
Total unrestrlcted funds
42,822
74,658
155,3681
62.112
Restricted funds
Lifehouse Project
ACTS 435
Car Park Fund
Transforming Mission
1118,2851
139
542
29.162
143,2801
1132,4031
139
549
56,892
156,0491
Total restricted funds
1117.6041
86.061
199,3291
1130.872
Totsl funds
74.782
154,697
68,760
Page 20

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
Balance al
31
December
2021
Balance at
1 January
2021
Incoming Resources
resources
expended
Transfers
Unrestricted funds
General
General funds
31,695
52,187
143,9171
1,428
41,393
Designated
Fabric Fund
1,428
1,429
Total unrestrlcted funds
33.123
52,188
43,917
1,428
42,822
Restricted
Lifehouse Project
ACTS 435
Car Park Fund
Transforming Mission
Other funds
170.8111
373
542
54,648
9.208
1102,1221
19,4421
1118,2851
139
542
106,827
1106,827}
393
1,821
1,428
Total restricted funds
68,075
218,784
1,428
117,604
Total funds
134,9521
222.871
1262.701}
174,782
The specrfic PLtrposes for which the funds are lo be applied are as follows..
Lifehouse Project work conducted lo provide a safe and supportNe space to the local and wider
community.
Transforming Mission - worf( conducted lo widen the church's reach.
Car Park fund - monies held to upkeep the church car park.
Transfers include appropriate releases of restricted funds to unreslricled funds, where all condrtions
have been met or where expenditure has previously been made from unrestricted fuds.
Pagè 21

The Parochial Church Council of the Ecclesiastical Parish of
Highertown and Baldhu
Notes to the Financial Statements
Year Ended 31 December 2022 (continued)
17 Analysis of net assets between funds
Total funds
at31
December
2022
Unrestrictad funds
General
Designated
Re$tri¢led
funds
Current assets
Current liabilities
Creditors over 1 year
Total nel assets
67.814
17,1501
1,448
22,192
{3,0641
150.0001
91,454
110,2141
150,000
60,664
130.872
68.760
Total funds
at31
December
2021
Unrestricted funds
General
Designated
Restricted
funds
Current assets
Current liabilities
Creditors over 1 year
43,670
12,2771
1,429
45,019
112,6231
150,000
90,118
114.9001
150,000
Total nel assets
41,393
1,429 ￿117 6041
74.782
18 Related party transactions
During the year the charity made the following related paty transactions..
Trustees
Unconditional donations received in the year from trustees lolal £1,097 12021.. £nill. Al the balance
sheet date the amount due tolfrom Trustees was £Nil12021 - £Nill.
Page 22