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2023-12-31-accounts

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

The Parochial Church Council, St Laurence, Foleshill Annual Report and Financial Statement 1 January 2023 – 31 December 2023 Charity No 1202588

1

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Contents
Reference and Administrative details Page 3
Objectives and Activities Page 4
Achievements and Performance Page 5
Financial Review Page 8
Structure, Governance and Management Page 9
Declarations Page 10
Appendix A: Annual Accounts Page 11
Statement of Financial Activities Page 12
Statement of Assets and Liabilities Page 13
Approval of Accounts by PCC Page 13
Notes to the Financial Statements Page 14
Independent Examiners Report Page 20

2

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Reference and Administrative details

Charity name PCC St Laurence Foleshill
Registered charity number 1202588
Charity’s principal address 142 Old Church Road
Coventry
CV67ED

The charity trustees who have served at any time from 1[st] January 2023 until the date this report was approved are:

Ex Officio members:

Rev Gareth Iain Irvine

Rev Jennifer Anne Irvine

Rev Abby Rhodes (until 22 May 2023)

Vicar/Chair of PCC Associate minister Associate minister

Rev Kate Louise Elizabeth Pellereau (from 1 February 2024) Associate minister

Rev Rebecca Henney (from 2 July 2023)

Rev John Samuel (until 3 July 2023) Christine McKirdy

Ben James Verdon

Curate Curate Churchwarden /Safeguarding Office Churchwarden

Elected by the Annual Parochial Church Meeting:

Piers Anthony Denholm-Young (from 30 April 2023) Millicent Anne Dews

Laura Rachel Edmunds James Edward Henney Dawn Louise Flavell Linda Lengden (until 30 April 2023) Michelle Goodson-McDonald Rea Verdon Ayla Verdon (under 18) (from 30 April 2023)

PCC Secretary Lay Chair of PCC Deanery Synod rep Deanery synod rep

Co-opted member:

Margaret Patricia Locke-Wheaton (from 7 May 2023)

Treasurer

3

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

The trustees of the Parochial Church Council of St Laurence Foleshill present their annual report.

Objectives and Activities

St Laurence Foleshill is a Church of England Parish Church in the Diocese of Coventry offering charitable services to the locality. We hold weekly Sunday services as well as family; children’s and youth work; food poverty relief; pastoral support; and other Christian events, courses and ministries.

The Parochial Church Council of St Laurence Foleshill (PCC) has the responsibility for promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

When planning our activities for the year we have considered the Charity Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion.

We are a community called to:

To facilitate this work it is important that we maintain the fabric of the Church building and the church hall together with the surrounding grounds. The PCC is also responsible for maintaining a freehold property (house) in Gayer Street, Coventry that it owns, which is let out to tenants to provide additional income.

4

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Achievements and Performance

This is the first Annual Report and Accounts since we registered with the Charity Commission on 31[st] March 2023. Prior to this we were an excepted charity, but our turnover has now exceeded £100,000.

The church works at the centre of the community in partnership with the local school, care home and other groups (such as Coventry Foodbank and Christians Against Poverty) who share our aims. The Hope Hub offers emergency food support in a warm, safe place with additional help (such as debt support) available and it is always busy. The Family Link Worker works with the local primary school and co-ordinates regular activities for families, children and youth (including food), along with a holiday club during school holidays (including lunch at a time when there are no school meals available). The staff team offers pastoral support in various ways to those within our community. The church hall (that is the base for most activities) is also an affordable resource space for community groups to hire. We have a dedicated safeguarding lead, with regular training and support for all staff and volunteers in their work with children and vulnerable adults. We do everything we can to protect people from any form of abuse, neglect or harm of any kind.

Over the course of the year we have offered our normal range of services and activities. These include:-

Our hall users include:-

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PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Achievements and Performance (continued)

Highlights of the year are:-

There have been some staffing changes during the year. One of our assistant ministers left in May 2023 to serve a neighbouring parish. We were successful in appointing a replacement (funded by the diocese) who will begin her ministry with us as a Mission Hub Associate in February 2024. In July our previous curate left and a new one was appointed. We appointed a new (paid) cleaner in June 2023 and a (voluntary) treasurer in May 2023. We also welcomed an extra curate for a final year placement. All volunteers and staff have been safely recruited and appropriate safeguarding training has been completed

6

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Achievements and Performance (continued)

Our plans for the future include:-

We would like to thank our staff team and the large group of over 30 volunteers who contribute time and energy to help our activities run successfully. We would also like to thank our 15 regular donors, together with those who have given us one off donations and grants during the year. All this has enabled us to serve the local community in the many different ways described above.

7

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Financial Review

Review of financial position at end of year

The total receipts on unrestricted funds were £95,400. This came from donations (£49,641 including Gift Aid), letting out our hall, weddings and funerals and other operating activities (£38,899), letting out the freehold house in Gayer Street (£6,790) and other investment income (£70). We also received £14,904 of restricted donations (for our Hope Hub, children/youth work and fabric maintenance) and £3,011 of restricted investment income (for fabric maintenance), making our total income for 2023 £113,315.

£98,358 of unrestricted funds and £14,674 of restricted funds were spent on the activities and achievements described earlier in this report (total £113,032). This included our £26,472 contribution to the diocese (the parish share that helps provide stipends and housing for the clergy) and our staff salary costs (£32,423).

The net result for the year was a small excess of income over expenditure of £283.

We carry forward a cash balance of £39,617 unrestricted funds and £20,542 restricted funds totalling £60,159. The unrestricted funds are split between the general fund (£8,487) and the designated capital projects fund (£31,130) which is earmarked for large projects.

Full details are in our Financial Statements in Appendix A.

Reserves policy

It is PCC policy to try to maintain a balance on unrestricted funds which equates to at least three months of unrestricted payments. This is equivalent to £24,590. It is held to smooth out fluctuations in cash flow and to meet emergencies. The cash balance of £8,487 held in our general fund at the end of the year was much lower than this target . It is the PCC’s hope to increase this over time, as and when funds are available.

8

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Structure, Governance and Management

The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006).

The method of appointment of PCC members is set out in the Church Representation Rules. At St Laurence’s the membership of PCC consists of the vicar, associate ministers and curate, the church wardens, the treasurer and PCC members elected by those members of the congregation who are on the electoral roll of the church.

All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including how the funds of the PCC are to be spent. New members receive initial training into the workings of the PCC. The PCC met 6 times during the year. Some of our PCC members are paid staff or related to other PCC members. Where there is a conflict of interest these PCC members withdraw from the discussion and decision making.

In between PCC meetings the standing committee (vicar, church wardens, treasurer, family link worker, administrator) make any significant decisions, reporting back next time the PCC meets.

The staff team (ordained staff, paid staff, plus a church warden/safeguarding lead) are responsible for day-to-day decisions.

Safeguarding

The PCC of St Laurence, Foleshill is committed to the safeguarding, care and nurture of everyone within our church community and has made the following policy commitments:-

We have a dedicated safeguarding lead and regular training and support for all staff and volunteers.

9

PCC St Laurence Foleshill Annual Report and Accounts 2023 ". Charity No. 1202588 Declarations The Irustees declare that haNt the tnJ5tees' reiKYt ab￿￿ at the PCC meetlng cm 14 behalf of the charlty tfU5tee5 Sl8naiurds) F￿1 namels Chris l•<Kirty Marqaret L(Kke.Wheat¢J) Posltkn Secretary, Chair. etc Cl¥xchwwden Date 1V lknh 2ITi4 1W March 2024 io

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Appendix A

Independent Examiners Report, Statement of Financial Activities and Notes to the Financial Statements.

11

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Statement of Financial Activities

For the year ended 31 December 2023

Unrestricted Restricted Total Unrestricted
Restricted
Total
Funds Funds Funds Funds Funds Funds
2023 2023 2023 2022 2022 2022
Note £ £ £ £ £ £
Receipts
Income from donors 2 49,641 14,904
64,545
31,676
5,536
37,212
Income from operating activities 3 38,899 -
38,899
35,770
3,001
38,771
Income from property investments 4 6,790 -
6,790
2,750
-
2,750
Income from other investments 5 70 3,011
3,081
28
2,714
2,742
Total Receipts 95,400 17,915
113,315
70,224
11,251
81,475
Payments
Charitable giving 6 3,961 -
3,961
5,272
-
5,272
Activities directly relating to the work of the
church 7 58,067 14,007
72,074
59,764
16,195
75,959
Expenditure on property investments 8 2,973 -
2,973
18,016
-
18,016
Church management and sundry administration 9 33,357 667
34,024
28,924
860
29,784
Total Payments 98,358 14,674
113,032
111,976
17,055
129,031
Excess of receipts over payments (2,958) 3,241
283
(41,752)
(5,804)
(47,556)
Transfer between funds 13 (61) 61
-
12,396
(12,396)
-
(3,019) 3,302
283
(29,356)
(18,200)
(47,556)
Unrealised gains/(losses) on investment assets 13 - 7,709
7,709
- (11,543) (11,543)
Net movement in funds (3,019) 11,011
7,992
(29,356)
(29,743)
(59,098)
Cash and investment assets brought forward at
1st January 13 197,636 102,451
300,087
226,991
132,194
359,185
Cash and investment assets carried forward at
31st December 13 194,617 113,462
308,079
197,636 102,451 300,087

The notes on pages 14 to 19 form part of these financial statements

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PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Statement of Assets and Liabilities

As at 31[st] December, 2023

As at 31stDecember, 2023
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2023
2023
2023
2022
2022
2022
Note
£
£
£
£
£
£
Investment Assets
37 Gayer Street
1
155,000
-
155,000
155,000

-
155,000
Cave Legacy CB3005792-001
12
-
84,422
84,422
-
77,162
77,162
Cave Legacy CB3005709-001
12
-
8,498
8,498
-
8,049
8,049
Total Investment Assets
155,000
92,920
247,920
155,000

85,211
240,211
Monetary Assets
Cash at bank
39,617
20,542
60,159
42,636

17,240
59,876
Total Monetary Assets
39,617
20,542
60,159
42,636

17,240
59,876
Total Cash and Investment Assets
194,617
113,462
308,079
197,636

102,451
300,087
Assets
Gift Aid Recoverable
1,189
-
1,189
8,347

-
8,347
Debtors
1,637
-
1,637
-
-
-
Liabilities
Sundry Liabilities
1,230
-
1,230
350

-
300
Payroll Taxes
810
-
810
389
-
389

The notes on pages 14 to 19 form part of these financial statements

13

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Notes to the Financial Statements

For the year ended 31[st] December, 2023

1: Accounting Policies

Basis of Accounting

The financial statements have been prepared under the historical cost convention as modified for the revaluation of freehold property. They comply with the Charity Commissioner’s Statement of Recommended Practice on Accounting by Charities and all applicable accounting and financial reporting standards. All incoming resources and resources expensed are accounted on the receipts and payments basis.

Investments

Investments are stated at market value. The property is currently used as an investment and generates income for the church. A valuation carried out by the PCC in 2020 indicates its current open market value is £155,000.

Fund Accounting

General funds comprise the accumulated surplus or deficit on the income and expenditure account. The funds are for use at the discretion of the PCC in furtherance of the general objectives of the Parish.

Designated funds comprise funds that have been set aside at the discretion of the PCC for specific purposes.

Restricted funds are funds subject to specific restricted conditions imposed by donors.

2:
Incoming resources from donors
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2023
2023
2023
2022
£
£
£
£
Planned giving 17,851
-
17,851
17,349
Tax recovered on giving 9,631
-
9,631
7,049
Loose plate collections 594
-
594
990
Grants, legacies and donations 5,990
14,904
20,894
6,521
Link worker support 15,212
-
15,212
4,232
Other 363
-
363
1,071
49,641
14,904
64,545
37,212

14

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Notes to the Financial Statements (continued)

For the year ended 31[st] December, 2023

Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2023
2023
2023
2022
£
£
£
£
3:
Incoming resources from operating activities
Hall and other lettings 24,965
-
24,965
19,564
Income from church events 691
-
691
-
Recharged expenses 4,201
-
4,201
-
Fees due to the PCC 9,042
20
9,062
19,207
38,899
20
38,919
38,771
4:
Incoming Resources from Property Investments
Gayer Street 6,790
-
6,790
2,750
5:
Incoming Resources from Other Investments
CBF funds (dividends) -
2,491
2,491
2,526
Interest received on bank accounts 70
520
590
216
70
3,011
3,081
2,742
6:
Charitable giving
Cost of Charitable Fundraising 661
-
661
-
Overseas Christian Mission -
-
-
1,000
Overseas Christian Relief 1,100
-
1,100
1,010
Other Charities -
-
-
62
Home Mission & Church 2,200
-
2,200
3,200
3,961
-
3,961
5,272

15

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Notes to the Financial Statements (continued)

For the year ended 31[st] December, 2023

For the year ended 31stDecember, 2023
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2023
2023
2023
2022
£
£
£
£
7:
Activities directly relating to the work of the charity
Advertising 207
64
271
202
Church hall expenses (inc. utilities) 9,241
412
9,653
9,810
Church running expenses (inc. utilities) 5,296
-
5,296
8,037
Clergy expenses 1,068
-
1,068
1,211
Costs to PCC (Weddings / Funerals) inc. DBF 4,943
-
4,943
3,707
Evangelism 2,706
-
2,706
1,215
Events -
-
-
473
Music and worship 1,497
-
1,497
2,142
New Wine -
-
-
1,241
Other 334
17
351
83
Parish Share 26,472
-
26,472
28,271
Church maintenance expenses (inc. insurance) 1,825
3,073
4,898
4,863
Teaching and training 3,271
-
3,271
1,119
Hope Hub 34
10,441
10,475
11,161
Tearfund -
-
-
Website 257
-
257
23
Youth and children 916
-
916
2,401
58,067
14,007
72,074
75,959
8:
Expenditure on property investments
Gayer Street 2,973
-
2,973
18,016
9:
Charity management and administration
Office expenses 702
-
702
1,132
Office salaries 31,756
667
32,423
28,092
Staff training 549
-
549
260
Examiner's Fee 350
-
350
300
33,357
667
34,024
29,784

16

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Notes to the Financial Statements (continued)

For the year ended 31[st] December, 2023

For the year ended 31stDecember, 2023
10:
Analysis of staff costs and staff numbers
2023 2022
£ £
Expenditure includes staff costs as follows :
Salaries 28,734
29,670
National Insurance (employer contribution) 1,145
1,010
Pensions (employer contributions) 2,431
2,253
Total Staff Costs 32,310
32,933

The average monthly headcount was 3 people (2022 :3) and the average monthly full time fulltime equivalent employees (including part-time staff) was 2 (2022: 2). No staff were paid at higher rate than £60,000 per annum during the year or previous year. The charity contributes to a workplace pension scheme.

Two trustees were remunerated a total of £26,159 for services provided to the charity (2022 : £28,492).

11: Related Party Transactions

There were no related party transactions (2022: nil)

12:
Investment Funds
Caves Legacy :
CBF Church of England Fixed Interest Securities Fund CB30055792-001 :
Investment value at 1st January
Dividends received
Increase/(decrease) in value during the year
Transfer to savings account
Investment value at 31st December
CBF Church of England Fixed Interest Securities Fund CB30055709-001
Investment value at 1st January
Dividends received
Increase/(decrease) in value during the year
Transfer to savings account
Investment value at 31st December
2023
2022
Units
£
Units
£
3,735
77,162
3,735
87,458
2,308
2,295
7,260
(10,295)
(2,308)
(2,295)
3,735
84,422
3,735
77,162
:
5,871
8,049
5,871
9,296
183
231
449
(1,248)
(183)
(231)
5,871
8,498
5,871
8,049

17

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Notes to the Financial Statements (continued)

For the year ended 31[st] December, 2023

Unrealised Unrealised
Balance at losses on Balance at gains on Balance at
13: Movement of Funds 01/01/2022 Income Expenditure Transfers Investments
01/01/2023
Income Expenditure Transfers
Investments
31/12/2023
Restricted Funds
Church Fabric Maintenance 102,471
5,392
(4,863)
-
(11,543)
91,457
5,438
(3,073)
61
7,709
101,592
Poor Fund 2,131
974
(83)
(2,000)
-
1,022
882
(17)
(1,652)
-
235
Hope Hub 23,023
1,884
(11,161)
(4,440)
-
9,306
3,572
(8,066)
-
-
4,812
Children's Fund -
-
- -
-
6,823
-
-
-
6,823
Love Christmas -
-
- -
-
1,200
(2,852)
1,652
-
-
Administration Fund 4,569
3,001
(948)
(5,956)
- 666 - (666) - - -
Total Restricted Funds 132,194
11,251
(17,055)
(12,396)
(11,543)
102,451
17,915
(14,674)
61
7,709
113,462
Designated Funds
Capital Projects Fund 48,330
-
-
(17,200)
-
31,130
-
-
-
-
31,130
Gayer Street 155,000
-
-
-
-
155,000
-
-
-
-
155,000
Unrestricted Funds 23,661
70,224
(111,976)
29,596
-
11,506
95,400
(98,358)
(61)
-
8,487
Total Funds 359,185 81,475 (129,031) - (11,543) **300,087 ** 113,315 (113,032) -
7,709
308,079

18

PCC St Laurence Foleshill Annual Report and Accounts 2023 : Charity No. 1202588

Notes to the Financial Statements (continued)

For the year ended 31[st] December, 2023

Restricted Funds :

Church Fabric and Maintenance Fund : These funds provide for the upkeep of the church building. Administration Fund : These are funds provided by the diocese to employ a church administrator. Hope Hub : The Hope Hub provides practical support to people in crisis in the local area. Poor Fund : These funds are provided to support people in poverty in the local community. Children’s Fund : These funds are provided for work with children and young people. Love Christmas : These funds are provided for giving Bags of Kindness (containing food and seasonal items) to those in need at Christmas

Designated Funds :

Capital Projects : Funds designated by the PCC towards future capital projects Gayer Street : Investment property held by the church

19

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