Annual Report and Financial Statements of the Parochial Church Council of Walsall St Peter For the year ended 3151 December 2024 Charity registrotion number.. 1199076
The Parochial Church Council of Walsall St Peter st Trustees, Annual Report for the year ended 31 December 2024 Charftyreglstration numb•r 11990T6 Objectives and Activities The Parochial Church Council of Walsall St Peter (the PCCI has the responsibility of promoting the ecclesiastical parish. the whole mission of the Church, pastoral. evangelical, social and ecumenical. The PCC is also spirrf(ually responsible lor the maintenance of the church The PCC is committed lo enabling as many people as possible lo worship at our church and lo become part of our parish community at Walsall St Peter. The PCC maintains an overview of worship throughout the parish and makes suggesllons on how our services can involve the many groups that live within our parish. Our services and worship pul faith into practice through prayer, scrtpture, music and sacrament. Also. through non sacramental activities of hospitality and fellowship we aim to reach non churched members of the community. Publlc Benefit The trustees of the PCC are aware of the Charity Commisslon's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard lo il in their administration of the Charity. The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of Walsall Sl Peter it helps lo promote the whole mission of the Church {pastoral. evangelistic. social and ecumenicall more effectively. within the Ecclesiastical Parish, and that in doing so it provides a benefit to the public by.. providing facilities for public worship, pastordl care and spiritual, moral and intellectual development, both for ils mernbers and for anyone who wishes lo benefit from what the Church offers., and promoting Christian values and service by members of the Church in and lo their communities, lo the benefit of individuals and society as a whole. Achievements and Performance Throughout 2024 we have successfully maintained a steady pattem of worship and missional engagement despite operating on a reduced capacity duo lo the vacancy. We have received vislts from a number of priests who have presided at Holy Comrnunion for us on average once a month. We also regularfy receive Communion by Extension. Our children's work, if anything, has expanded during 2024 and our Sunday School continues lo be well attended. We have regular visits from the staff and children al Croft Academy Iwilh whom we work closely). and in addition our deacon also goes into Blue Coat Infants School and Mayfield Preparatory School, which are schools just outside our Parish. lo deliver assemblies. We continue to provide funeral servitss for the community, conducted several baptisms during 2024 and one wedding ha5 been officiated in our Church building. Our hopes for next year prlmarily involve appointing 8 new incumbonl so that we can gel back to full capacity. once again reachlng out further into our community, and hopefully beginning lo build up o*Jr numbers once more. Financlal Review Net Total Assets: £98,519 20241£102.187 20231 Defi¢il'. {£3,66812024- [Dgficil'.1£7,73612023] Following the departure of the previous treasurer towards the end of 2023 Alyson Green was employed as Finance Officer & Treasurer from 1 Febru8ry 2024. While it is not thought lo be related to the departures of either the previous incumbent or the treasurer, there has been a noticeable decline in the number of regular donors, with unavoidable results. In terms of our reduced income, there are a nL(mber of factors that have probably contrlbuted lo this. The first is that several active members of our congregation have either died or
relocated,. some of these people gave significant surns in the past. The second is Ihat we are in a period of vacancy, which officially began in November 2023. Churche5 often 'shrink' somewhat wilhout an incumbent and although we continue to have a CO of regular allendees al our Wednesday and Sunday servi$, our numbers do now fluctuate from one Servi lo another. Thls also contributes lo Ihe third reason.. without a full-lime prtest we cannot OP8rale al the same capacity as we have in the past. Funerals have historically brought in a large part of our income and, whilst our deacon does conduct funeral SeICe$ regularly, there is still a reduction in the number that she can perfofm given the hours available, which has impacted our funding. R•$erves Policy The PCC aims to ty to maintain a balance in unrestricted reserves which equates to al least six months unrestricted payments. This is equivalent lo £26.36212023-. £31,940). It is held to smooth out fluclualions in cash flow and to meet emergencies. The balance of the free reserves at the year-end was £28.52212023- £35,880}.' the PCC are cnntenl with this level of reserves in the current challenging economiG time5. Investment Policy The charity Is granted power to invest in suitable investmgnts under the PCC Powers Measure 1956 and the Trustees Act 2000. As a charity. the Trusl8es have a duty of care to take such advice as is appropriat8 before investments are undertaken. This advice is sought from the Central Board of Finance (CCLA) in London. The charitls investment pollcies are based on two key principles.. - Ethical Investment - this includes ensuring that Investments are held in companies which have high standards of corporate governance and act in a responsible way towards stakeholders. Long-terrn respon5ibilities- the trustees are aware of their long-term responsibilities in respect of the Restricted and Unrestricted reseTres and as a result follow a prudent approach lo investment decisions. Investment policy for long-tenn funds is aimed primarily at generating a sustainable income. with due regard to the need for the preservation of Gapital value, and the possible need lo realise investments lo meet operational needs. The charity does not have a policy of generating income al excessive or high risk- known as "purchasing income" where high returns are guaranteed at the expense of capital. In summary, the charity has an overall policy to maximise income while preserving the real value of its funds. Due to the nature of the charity, an ethical investment policy is taken into consideration when investments are rnade.. The charity follows the Ethical Investment Advisory policy as recommended by the Lichfield Diotsse which includes the following.. 'We aim lo invest in companies that.. will develop their busin85s in the interests of shareholders., demonslrale responsible employment practices., are ¢onscientious concerning issue5 of corpo¥ale govemance, the environment and human rights- are sensitive lo the community in which they operate." Planned giving, collections and donations are the main sources of fund ralsing along with lax recoverable. Safeguarding The PCC believe they have fulfilled their duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 {duty lo have due regard lo House of Bishops, guidance on safeguarding children and vulnerable adults}.
Reporting Serious Incidents A Serious Incident is an adverse event, whether actual or alleged. which results in or risks significant harm to the charity's beneficiaries. employees, office holders, volunteers or to others who come into contact with the ¢harlly through its work. loss of the charity's money or assets, damage to the charity's propety or harn lo the charity's work or reputation. The trustees a not aware of any Serious Incidents in the last year. Fundraising The PCC takes it fundraising responsibilities seriously and is very grateful lo all donors - whether regular or occasional- for their sUPPOrt of the church and church events. PCG supporters are never taken for gTanted. The PCC take full responsibility for fundraising and do not use commercial organisations or professional fundraisers. Al money raised is either by donations. fundraising events, special appeals or legacies for which the PCC are most grateful. With effect froffl 1 February 2024 the church's finances have been administered by the Finance Officer & Treasurer Alyson Green. who has sought at all times lo impart transparency and clarity lo the members of the PCC. Volunteers The members of the PCC would like to thank all the volunteers who work so hard to rnake our Church a lively and vibrant community. Our especial thanks go lo our church wardens. Anton Baker. Robert Butau and Karen Hardwick, who have worked so tirelessly on our behalf. Future Plans The main focus for the future is to secure the appointment of a new vicar as a precursor for the advancement of the Church's support and financial robustness. The procedure is well underway. Risk Management The Church Warden5 cary out regular He81th 2nd Safety Reviews and regularly inspect premises for potential hazards. We have safeguarding policies in place for child protection and for work with vulnerable adults, including rigorous DBS checking of staff and volunteers. Our insurances are reviewed annually to ensure adequate cover. An infomial remow of any new risks which may impact the work of the Church in the Parish is ongoing. Structure, Governance and Management The PCC is a Body Corporate established by the Church of England and is 8 Charity registered with the Charity Comfflission. The PCC is governed by the Parochi81 Church Council Powers Measure119561 as amended that came into effect on 2nd January 1957, and the Church Representation Rules leonlained in Schedule 3 to the Synodical Govemmenl Measure 1969 as amended). The method of appointment of the PCC members is sel out in the Chureh Representation Rules. The Council comprises the Incumbent, the Churchwardens, those elected lo the Deanery Synod. and other members who are elected at the Annu81 Parochial Church Meeting, by those on the Electoral Roll. The PCC members receive training from courses run by the Diocese. Members of the congregation are always urged to join the Electoral Roll, and to stand for eleetion to the PCC. The PCC members are responsible for making decisions on all matters of general concern and Importan In the parish. and for all financial matters. The PCC mel eight limes in 2024. Reports on all aspects of its work are presented to the members at each meeting. Related Parties Donations fTom Related Partles Donations from related parties during the year totalled £7.050. All these donations were received without conditions.
Remuneratlon paid to Trustees Trustee Kim Baker was paid £4,732 {2023.' £5,411} for her employment wlth the PCC as church administrator. There were no pension Contributions. Expenses paid to Trustees No Trustee expenses have been Incurred during the year. Reference and Administrative details The Church is situated in Stafford Street, Walsall WS2 8DX and is part of the Deanery of Walsall. in the Diocese of Lichfield. The correspondence addres5 is Sl Peter's Church, Slafford Street. Walsall WS2 8D.. registered charity number 1199076. Our website address is.. http.'Ilwww.stpeterswalsall.orgl PCC members who have served from 1S1 January 2024 until the date this report was approved were: Ex Officio Members The Incumbent Deacon (NSMI Churchwardens VaGant Rev Emma Hollon Karen HardwiGk Anton Baker Robert Butau Jean Cattell Deanery Synod Rep Elected Members Anton Baker Kim Baker Carrie Blount l$e¢retary lo the PCC) Andrew Blount Robert Bulau Mandy Gilbert Kale Gray Gary Tumer Elected at APCM 21 April Athena Hatzis David Wikes Zine Butau Coryopted 11 Novernber ol¢er of the PCC (can att8nLI PCC m88tings butdo8s not volg) Alyson Green (Finance Officer & Treasurer} Names and addres$e$ of advisers Bank CAF Bank Ltd 25 Kings Hill Avenue. Kings Hill, West Malling, Kent ME19 4JQ Investment Managers CCLA 1 Angel Lane, London EC4R 3AB Independent Examiner Jonathan Hill LD8F Approved by the PCC on .... 2025 d on ils behalf by.. Kale Gr Chair) Anto -( ay Vic8 Chairl
Independent Examinerfs report to the trusteeslmembers of The PCC of Walsall St Peter Registered charity number= 1199076 I report on the accounts for the year ended 31° Oecember 2024 which are set out on the following pages. es ective res onsibilities of the Trustees and Inde endent Examiner The charitvs trustees are responsible for the preparation of the accounts. The charity's tr(tstees consider that an audSt is not required for this year under Section 144 of the Charities Act 2011 (the Charittes Actl and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Art, to fcTrllow the procedures laid down in the General Directions given by the Charity Commission (under sertion 14515llbl of the Charltie5 Act, and to state whether particular matters have come to my attention. Basis of Inde endent Examiner's Statement My èxamination was carried out in accordance with the General Directions given by the Charity Commission. An examination Includes 3 review of the accounting records kept by the charity and a compari50n of the accounts presented with those records. It also include5 consideration of any unusual item5 or disclosures in the accounts, and 5eekin8 explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audlt, and consequently no opinion is given as to whether the account5 present a "true and fairf view and the report is limited to thase matters set out in the staternent below. Inde endent Examiner's Statement In connertion with my examination, no material matter5 have come to my attention which gives me cause to believe that in any material respect= accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the with the accounting records I have come across no other matters in connertion with the examination to which attention should be drawn in order to enable a proper understandin8 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 Date..
The Parochial Church Council of Walsall St Peter Financial Statements for the Year Ended 31st December 2024 Accounting Policies The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts and Payments basis. There may be minor discrepancies in the totals as the pence are not being shown. Flxed Assets Consecrated and benefice propety is not included in the accounts by s.10(2llal&lCI of the Charities Act 2011. Moveable church fvrnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable propety. listed in the Church's inventory. which can be inspected {al any reasonable time). For anything acquired prior lo 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Description of Funds Unrestricted funds are income fijnds of the PCC that are available for spending on th8 general purposes of the PCC. including amounts designated by the PCC for fixed assets for ils own use or for spending on a future project and which are therefore not included in its °free reserves" as disclosed in the trustees, annual report. Restricted funds comprise of fwo elements: al income from trusts or endowments which may be expended only on those restricted objecls provided in the terms of th8 trust or bequest bl donations or grants received for a specific object or inwled by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be Caled forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate inveslrnenl, interest is apportioned to individual ftjnds on an average balance basis. Endowrnent funds are restricted funds that must be retained as trust capital either permanently or subject to discretionary power to spend capital as income. and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes lo the accounts.
The Parochial Church Council of Walsall St Peter Financial Statements for the Year Ended 31st December 2024 Raceipts and Payments Account UDrestrleted DesigDated Restricted EndowmeDt rurtds (urtds funds funds Total Prior year luttds total fllnd5 R9ceipts Donallons and Income Irorn chaA13ble acb¥Kles Qlhar Iiading arlivibes In¥estsnwtL% Total recolpts 35,6S9 6250 75 1,804 37,473 6.250 675 56.681 8,713 2.515 4,319 45.295 49,614 68.$34 Paymollts Raising funds Expenditure M Charitab acbvities Total payThents 127 504 631 127 53.156 53,283 76.270 76,279 52,652 Exc•ss al ro¢6lpt$ ovqr payments befor transler (T.3Sfj1 3,688 13.6681 IT.7361 Transfers Exces5 of recelpls ov•r p4ymonts b•for• oth?r gains I losses (1,3561 3,688 116681 ri,7361 Net mLsvqfflont In fund$ IT,3561 3,686 13.6681 ri.7361 All assets at 01 January 2024 35,679 66.307 102,187 109,923 All •$$ots at 31 Do¢•mbor 2024 2B,523 89,996 98.519 102.187 R¢pre9*nttd by urtrICt0 G8n8ol Fund 26.523 28,523 35.879 R•5tricted BuNding Reslrkied Fund Children's Youth and Cornmunity Reslrfcied Fud Dmpin R8$1ri¢18d Fund Organ Restricted Fund 23,61 40.414 23,F6 40,414 20,886 39.355 4.667 1.309 4,86T 4,793 1,272 Statement of assets and liabilities G¢nerAI Desltsnated Restrl£ted Endowment Th1$ tar List ¢ar Current assets. Cash at bank and In hand CAF Cutrenl aru1- CAF Gold aG¢ount- C8F Depo¢ account- Cash in h8nd- 4.078 22,524 1.781 132 28,523 1,469 3,510 65.312 5.547 26.034 67.101 132 98,814 13.e82 25,402 62.798 104 102.187 Totals 70.291 LIabillo$-AyeNeY accounts Agency Co1cl)n8- 295 2g5 Total$ GY8nd total 69996 98.519 102.187
The Parochial Church Council of Walsall St Peter Financial Statements for the Year Ended 31st December 2024 Statement of Assets and Liabilitles - 2023 aass and nominal code General Deslgnated Restricted Endowment Total Lasiyear Curr2ntAsset. Cash At Ban And In Hand 6501". CAF Current a(xount 6505.. CAF Gold account 6510.. CBF Oep0511 account 6590: Cash in had Total 13.882 21.893 13.882 25,402 62,798 105 102,187 3,510 62.798 105 35.880 66.308 Net total •ss¢ts 35.8BO 102 187 Fund movernent by type . 2024 teomin Out oin Transfers GafttsAos$es Clost 8ulldin9. Bulldlng Rostrl¢tod Resvicted 20.e87 20.887 2,719 2,719 23,606 23,6015 sub.total for 8ulldlng CYC- CNldrqn's Youth and Communlty Reslricled 39.355 39.355 1.562 1,562 40.414 40.414 Sub-total for CYC Dron- Drop4n R08trfGted F R8Slrfcted 127 127 4.667 4,667 Sub4otal lor Drop4n 4794 Orgn-Oryan REstrl¢ted Fun Restrfcted 1.272 1.272 37 37 Sub.tvtal fororgan G•ntr41- G8nqwal Fund nSIrle 35.880 35,llaO 52.652 $2,652 28.522 23.252 Sub-total lor Oonerdl 45,295 Grand total 102 187 9B,519 Description of Funds Restricted Bullding - Established in 2021 to pay for building improvements and major maintenance items in the church and any associated church developments. Children's Youth and Community- To support the work of the church with children and young people. Drop-In- Originally used to support the Betel pmgram, reaching out to the homeless and people with addictions,. now used for community drop-in events. Organ- For the repairs and maintenance of the church organ. Analysis of TTansfer between Funds There We no material transfers between funds.
The Parochial Church Council of Walsall St Peter Financial Statements for the Year Ended 31 St December 2024 Analysls of receipts and payments Totgl Unrestritted Desi Endowrnent Thi5 Lost velr INCOME AND ENDOWMENTS Donations and legaclos Gift Ad- 8ank other planned giving Loose plate collECtion5 One-off Glft Ald gifts Donations appeals etc Tax recoverable on Gift Non-recurring oneff grants Other funds generated 17,577 4.021 4,360 1,142 1.049 7,352 63 105 35.669 1,250 530 18.827 4.551 4,260 1,142 1,049 7.352 63 129 37.473 29.722 5.165 4,253 9,725 7,773 43 56,681 24 1,804 Total Income from eharitable activities Fee$ fDr wedding5 and fijnerals Church hall letiings obje¢tive5 2.780 3.470 6,250 2,780 3.470 6.250 5.713 3,000 8.713 Total other trading activities Wedding and funera extras 875 875 875 875 Total Investments Oividends Bank and buikling sooety interest Rent from lands or lIdIng$ 3,140 2,441 60 2.501 45.295 2.515 4,956 60 S,D16 49.614 Total INCOME TOTAL 2,515 4,319 3.140 68.534 EXPENDITURE Raising funds Costs of f8tes and olhgr events 127 Total 27 Expenditure on charStabl• aetivltles Chanlable Giwng Ministry parish 5har8 elc Assistant staff ¢0515 Salary of pan8h adminlstrator Salary of finance officer Expenses- deacon or curate Expen5es- children's worker Éxpen5es- general Education Parish trainlng and mi55ion Church running- insurance 1.100 26,539 S,411 26.74Q 15Q 4,732 2,879 115 26,740 150 4,732 2,879 115 504 227 39 36 3.777 504 227 39 36 3,777 225 3.618 3.328 io
Church office. lekpthone Church maintenance C18aning Upkeep of seth$ Licences and subscriptions Church offjce and other admin costs Vtsiting speakerwlo¢um$ 453 453 g50 15 282 1.023 1.514 424 12,391 462 15 282 1,023 1,514 80 2.B17 Church running- electricity Church runnlng- gas Church rpffjning- water Hall wnning- electricity Hall running- ga5 H1 runnlng- Insuran Hall running- water Hall runnlng- malntenance Gov8mance costs exgminationl8udit fee Church major repalrs- In$tsllation Total EXPENDITURE TOTAL 992 4,491 392 613 650 673 992 4,491 392 613 650 673 113 215 1.500 8,753 1,274 215 1.500 9,230 7fj.270 76.270 52.652 52,652 504 631 53.156 53,283 GRAND TOTAL 7.357 3.688 3.669 7,736 Fixed Assets a. Tanglble Fixed Assets The PCC own a Church Hall situated in Hall Street. adjacent to the church. The valuation for insurance purposes is £858.546 (2023.. £858.5461. b. Fixed Asset Investments The PCC own an unrestricted holding112.557 shares) in the CBF Global Equity Fund. managed by CCLA and vested in the Lichfield Diocesan Trust as custodian trustee. Dividend income is mandated to the CAF Current account quarterly. The holding is worth £40,375 (2023.. £37.9961. This was funded by a legacy invested as per advice received from the Diocese. li