2023-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF

JEWELLERY QUARTER, ST PAUL’S

For The Year End 31st December 2023

1

CONTENTS

PCC Report …………………………………………..	2
Independent Examiners Report……………...	3
Statement of Financial Activities (SOFA)..	4
Balance Sheet ………………………….…………….	5
Notes to the Accounts……………………………	6
Comparative Statement of Financial Activities (SOFA)……………………………………	13

PCC Annual Report & Account 2023

March 2024

2

PCC report for Annual Meeting on 19 May 2024.

PCC membership: The Revd. David Tomlinson (Vicar); The Revd. Conan Chitham (Associate priest); Ms. Catherine Myerscough (church warden); Mr Timothy Pearce (church warden.); and Ms. Aphra Hiscock (elected lay member)

Since the Annual Meeting on 30[th ] April 2023, the PCC has met eight times. It has launched a campaign to raise the money to “replace the roof” and is represented on the fundraising team by the Vicar. Applying for the Advisory Team to become a Charitable Incorporated Organisation entitled “Friends of St Paul’s in the JQ” is a related development. A number of other fabric issues have needed attention, and progress has been made on a scheme to manage the car park. It also reviewed the church’s cleaning provision and decided to change to Jericho Cleaning.

The PCC appointed Laurie Duncan as the parish’s environmental contact and is working with him to a Net Zero Action Plan, commissioning a Church Energy Survey as a first action. A new sound system with a hearing loop has enhanced our Sunday services.

Our church’s continues to evolve with mid-prayer now offered on Wednesdays, as well as Mondays, and Lent study group enriching our keeping of this penitential season. Additional services at Christmas and in Holy Week, and the introduction of a responsorial psalm between the readings, have been further welcome developments.

The Persian Community continues to enrich our common life, with a steady stream of new people joining the church, attending worship and Bible Study on Sundays. A confirmation service in January, along with some participants on the diocesan local ministry pathway course devised especially for Farsi speakers, are markers of this work’s fruitfulness.

The PCC was pleased to pay £6,000 towards Common Fund in 2023 and to play its part in the diocesan strategic plan, People and Places, and looks forward to seeing the scope for useful collaboration within its Oversight Area. The Vicar was pleased to be acting Area Dean from October to December, covering sabbatical leave, and continues to enjoy contributing to the wider life of the Diocese by chairing the Trustees of its community regeneration arm, Thrive Together, Birmingham.

David Tomlinson Chair of the PCC 15[th] April 2024

PCC Annual Report & Account 2023

March 2024

3

Independent Examiner’s Report to the Trustees of St Paul’s Jewellery Quarter Parochial Church Council

I report on the accounts of the church for the year ended 31 December 2023 which are set out on pages 4 to 14.

Respective Responsibilities of Trustees and Examiner

The church’s trustees are responsible for the preparation of the accounts. The church’s trustees 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:

• Examine the accounts (under scetion145 of the 2011 Act);

• To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145 (5) (b) of the 2011 Act); and

• To state whether particular matters have come to my attention.

Basis on Independent Examiner’s Report

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 the trustees concerning any such matters. The procedures undertaken do not provide all of 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 matter has come to my attention:

1. Which gives me reasonable cause to believe that in any material respect the requirements

2. To keep accounting records in accordance with section130 of the 2011 Act; and

3. To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met: or

4. To which, in my opinion, attention should have been drawn in order to enable a proper understanding of the accounts to be reached.

Stephen Hendy 11[th] April 2024

Data Developments, First Floor, Chubb Buildings, Fryer Street, Wolverhampton, West Midlands WV1 IHT

PCC Annual Report & Account 2023

March 2024

4

STATEMENT OF FINANCIAL ACTIVITIES 31[st] DECEMBER 2023

	Notes	Unrestricted	Designated	Restricted	Total	Prior year
		funds	funds	funds	funds	total funds
Income and endowments from:
Voluntary income	(2a)	28,458	0	38,379	66,837	58,164
Activities for generating funds	(2b)	1,602	0	4,034	5,636	3,612
Investment income	(2c)	35	0	33	68	305
Church activities	(2d)	18,525	461	0	18,986	29,422
Total income		48,620	461	42,446	91,526	91,503
Expenditure on:
Church activities	(3a)	49,943	5,236	30,395	85,574	73,439
Costs ofgeneratingfunds	(3b)	1,581	0	546	2,127	2,118
Total expenditure		51,525	5,236	30,940	87,701	75,557
Net income / (expenditure) resources	before
transfer		-2,905	-4,775	11,506	3,825	15,946
Transfers:
Gross transfers between funds - in		0	12	103	115	9,885
Gross transfers between funds - out		-115	0	0	-115	-9,885
Other recognised gains / losses
Gains/losses on investment assets		73	437	238	748	0
Gains on revaluation, fixed assets,
charity's own use		0	0	0	0	-
Net movement in funds		-2,948	-4,326	11,847	4,573	15,946
Reconciliation of funds
Total funds brought forward		42,538	11,329	59,100	112,967	97,021
Total funds carried forward		39,590	7,003	70,947	117,541	112,967

There may be minor discrepancies in the totals if the pence are not being shown

PCC Annual Report & Account 2023

March 2024

5

BALANCE SHEET 31[st] DECEMBER 2023

Notes	General Designated Restricted At 31/12/2023 At 31/12/2022 Fund Fund Fund £ £
Current assets Cash At Bank And In Hand (7) Debtors (8) Liabilities Creditors: Amounts Falling Due In One Year (9) Net current assets less current liabilities Total assets less current liabilities Total net assets less liabilities Fund Totals	40,394 7,003 69,539 116,937 114,280 -324 0 1,407 1,084 1,007
	40,070 7,003 70,947 118,021 115,287
	480 0 0 480 2,320
	480 0 0 480 2,320
	39,590 7,003 70,947 117,541 112,967
	39,590 7,003 70,947 117,541 112,967
	39,590 7,003 70,947 117,541 112,967
	39,590 7,003 70,947 117,541 112,967

Approved by the PCC on: ……………………………….

Signed on the PCC’s behalf by: ………………………………………….

PCC Annual Report & Account 2023

March 2024

6

NOTES TO THE ACCOUNTS 31[st] DECEMBER 2023

1. Summary of Accounting Policies

General Information and basis of preparation

The PCC is a public benefit entity within the meaning of FRS102. The Financial Statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations “true and fair view” provisions. They have also been prepared under FRS102 (2016) as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Report by Charities (SORP(FRS102)).

Assets:

Consecrated and benefice property

Consecrated and benefice property is excluded and not capitalised in the financial statements in accordance with Charities Act 2011.

Fixed Assets

In accordance with FRS02 investment properties are carried at their fair value and professionally valued every five years. The properties were professionally valued November 2020 and the next professional valuation is due November 2025.

Depreciation has been provided on church equipment on a straight-line method based on the estimated economic life of the asset, which is 4 Years in the case of Fixtures, Fittings & Equipment.

Investments

Investments are recognised at their quoted market price. Unrealised gains or losses are calculated as the difference between the fair value at the year end and their carrying value.

Funds:

The financial statements have been prepared using fund accounting, whereby income, expenditure, assets & liabilities are classified by fund. The 2 types of fund classification present in these accounts are:

1. Unrestricted Funds (General & Designated):

2. a. General Funds are available for use at the discretion of the PCC in delivering the aims and objectives of the charity.

3. b. Designated Funds are general funds that have been set aside by the PCC for a particular purpose from the general fund.

4. Restricted Funds represent grants, donations and legacies received which are allocated by the donor for a specific purpose .

The purpose of funds held by the charity are set out in notes to the financial statements.

PCC Annual Report & Account 2023

March 2024

7

3. Incoming Resources 31st December 2023

	General	Designated	Restricted	Total	Last
	Fund	Fund	Fund	Funds	Year
a) Voluntary Income
Planned Giving	9,871	0	1,957	11,828	7,765
Collections At Service	1,989	0	0	1,989	1,580
Donations & Appeals	10,824	0	9,959	20,783	7,892
Gift Aid	1,561	0	0	1,561	1,116
Grants	4,213	0	26,463	30,675	39,810
Voluntary income total	28,458	0	38,379	66,837	58,164

b) Investment Income
Bank & Deposit Interest	35	0	33	68	305
Investment income total	35	0	33	68	305
c) Income from Generating	Funds
Events Fundraising	432	0	371	803	136
Events Income	633	0	3,663	4,296	3,301
Regular Fundraising	132	0	0	132	175
Hire	404	0	0	404	0
Activities for generating funds total	1,602	0	4,034	5,636	3,612
d) Church Activities
Parochial Fees	1,520	0	0	1,520	2,809
Other Income	1,023	461	0	1,484	39
Church Hire	14,062	0	0	14,062	24,174
Car Park Hire	1,920	0	0	1,920	2,400
Church activities total	18,525	461	0	18,986	29,422

PCC Annual Report & Account 2023

March 2024

8

4. Expended Resources 31st December 2023

	General	Designated	Restricted	Total	Last
	Fund	Fund	Fund	Funds	Year
a) Church Activities
Common Fund	6,000	0	0	6,000	5,000
Ministry Expenses & Costs	1,340	0	165	1,505	333
Staff Wages & Payments	80	0	25,882	25,961	26,148
Mission & Outreach Work	44	0	0	44	139
Persian Community	129	0	103	232	800
Office & Admin Costs	3,398	0	205	3,603	3,179
Church Service Costs	8,511	5,236	1,399	15,147	3,590
Maintenance & Improvements	13,883	0	0	13,883	16,973
Cleaning & Hygiene	1,276	0	2,617	3,893	3,686
Insurance	8,170	0	0	8,170	7,941
Safety & Security	1,044	0	0	1,044	962
Church Utilities	4,581	0	0	4,581	3,701
Other Expenditure	821	0	24	845	473
Professional Fees	438	0	0	438	515
Church activities total	49,943	5,236	30,395	85,574	73,439

b) Costs of Generating Funds

Giving Costs	53	0	0	53	420
Events Expenditure	311	0	0	311	330
Fundraising Costs	1,218	0	546	1,763	1,368
Costs of generating funds total	1,581	0	546	2,127	2,118

PCC Annual Report & Account 2023

March 2024

9

5. Unrestricted Fund Movements 31st December 2023

Fund	Fund balances	Incoming	Outgoing	Transfers	Journal	Fund balances
	brought forward	Resources	Resources		Entries	Carried forward
Unrestricted
General - General Fund	42,538	48,620	51,525	-115	73	39,590
Sub-totals	42,538	48,620	51,525	-115	73	39,590
Designated
Develop - Building
Development Fund	6,342	422	0	0	364	7,128
Organ Fund	4,987	0	5,185	0	55	-143
Refreshments Fund	0	39	51	12	19	19
Sub-totals	11,329	461	5,236	12	438	7,004

Unrestricted Fund Purposes:

General Fund:

• ➢ Available for use at the discretion of the PCC in delivering its aims and objectives.

Designated Funds:

• ➢ Friends of St Paul’s – A group with in the parish that run activities to raise funds that are then used to purchase equipment.

• ➢ Flower Fund – Towards the costs associated with flower displays.

• ➢ Organ Fund – Towards the maintenance & upkeep of the organ.

• ➢ Parsonage Fund – Towards the decorating of the vicarage.

• ➢ St Martin’s Fund – The PCC received a one-off unrestricted grant from St Martin’s Trust of £500, this has been set aside while the PCC consider ways to use the funds.

• ➢ Refreshments Fund – set aside to provide refreshments at services.

PCC Annual Report & Account 2023

March 2024

10

6. Restricted Fund Movements 31st December 2023

Fund	Fund balances	Incoming	Outgoing	Transfers	Journal	Fund balances
	brought forward	Resources	Resources		Entries	Carried forward
Restricted
Community Worker - Expenses	193	0	0	0	0	193
Community Worker 2023 / 24	10,924	0	98	0	0	10,826
Building Development Fund	24,769	1,985	0	0	0	26,754
Raise The Roof Fund	0	13,996	546	0	0	13,451
Fabric	20,330	0	0	0	238	20,568
Transforming Church	70	0	16	0	0	53
Persian Fund	165	0	268	103	0	0
St Martins Trust - Cleaning	18	2,500	2,300	0	0	218
St Martins Trust - Photocopier	0	902	205	0	0	697
St Martin's Trust - Admin / Events
Roles	2,466	21,063	24,404	0	0	-876
St Martins Trust - Office Expenses	0	0	1,819	0	0	-1,819
St Martins Trust - Organist	165	2,000	1,285	0	0	880
Sub-totals	59,100	42,446	30,941	103	238	70,945

Restricted Fund Purposes:

• ➢ Community Worker Expenses – A grant towards the expenses & materials needed for the work of the Community Worker

• ➢ Community Worker 21/22 – A grant given by the National Lottery towards the costs of Community Worker for the 12 months.

• ➢ Community Worker 22/23 – An appeal raising funds towards continuing the employment of the Community Worker beyond the first 12 months. Grants, one-off donations & fundraising activities make up the balance of this fund.

• ➢ Community Worker Expenses – A grant towards the expenses & materials needed for the work of the Community Worker

• ➢ Covid19 Response – A grant towards several activities & expenses to do with the recovery of the church after the pandemic.

• ➢ Building Development – Grants, Donations & Fundraising towards the building developments of St Pauls.

• ➢ Fabric – Towards the upkeep of the church building.

• ➢ Building Development Fete – Proceeds and costs associated with the Fete held to raise funds for the building development. The net proceeds were transferred into the main Building Development fund.

• ➢ Transforming Church – Towards improving the notice boards & marketing of the church.

• ➢ James Watt Exhibition – A fund associated with exhibition held several years ago and currently being investigated further by the PCC.

• ➢ Persian Fund – Towards the Persian work in the community.

PCC Annual Report & Account 2023

March 2024

11

• ➢ St Martin’s Trust Grants – St Martin’s Trust gives the PCC grants throughout the year towards various staff roles & expenditure items listed below:

• Admin / Events Role – Full funding towards the salary & associated costs of employing a Administrator & Events Manager.

• St Martin’s Trust – Left over balance from previous funding towards the Administrator & Event Manager role. Balance consolidated into “Admin/Events Role” fund.

• Cleaning – Towards the costs associated with cleaning services & materials.

• Organist – Towards the hiring of an organist to play at Sunday services.

• Office Expenses – Towards office supplies & stationary.

• Photocopier – Towards the hire & usage of costs of a photocopier.

7. Transfers Between Funds 31st December 2023

Note	General Designated Restricted Total
From General Fund to Restricted Persian Fund 1 From General Fund to Deignated Refreshment Fund 2	-103 0 103 0 -12 12 0 0
	-115 12 103 0

• 1 £103 transferred from the general fund to Persian fund as the fund is now inactive.

• 2 £12 transferred from the general fund to Refreshment fund as the fund was negative.

8. Cash at Bank & in Hand 31st December 2023

Church: Community Account Business Account Cashplus Account Diocesan Decorating Fund Petty Cash Short Term Deposits CCLA Fabric Fund CCLA Deposit Account 2240D Church Groups: Friends of St Paul’s Total Cash At Bank & In Hand	This Year Total Last Year Total 7,849 86,600 20,006 0 526 0 0 0 39 39
	28,420 86,639 67,595 22,986 371 359
	67,966 23,345 20,552 4,296
	20,552 4,296
	116,937 114,280

PCC Annual Report & Account 2023

March 2024

12

9. Debtors 31st December 2023

Hire Debtor Payroll Debtor Other Debtors Total Debtors Prepayments Total Debtors & Prepayments	This Year Total Last Year Total 1,084 684 0 324 0 0
	1,084 1,007 0 0
	1,084 1,007

10. Creditors 31st December 2023

Independent Examiner Payroll Utilities Agency Collections Total Creditors Deferred Income Total Creditors & Deferred Income	This Year Total Last Year Total 480 500 0 0 0 565 0 1,256
	480 2,321 0 0
	480 2,321

11. Agency Collections 31st December 2023

Any third-party funds received by the PCC during in the year have been excluded from the accounts and put through agency collections. The following balances were held in those agency collections at year end:

Total BDBF - Parochial Fees Wedding Staff Fees Wedding Deposits Error Payments PRS 0

PCC Annual Report & Account 2023

March 2024

13

COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES 31[st] DECEMBER 2022

	Notes	Unrestricted	Designated	Restricted	Total	Prior year
		funds	funds	funds	funds	total funds
Income and endowments from:
Voluntary income	(2a)	17,874	0	40,290	58,164	70,521
Activities for generating funds	(2b)	255	0	3,357	3,612	6,153
Investment income	(2c)	305	0	0	305	12
Church activities	(2d)	29,422	0	0	29,422	26,968
Total income		47,857	0	43,646	91,526	103,654
Expenditure on:
Church activities	(3a)	39,117	0	34,322	73,439	47,271
Costs ofgeneratingfunds	(3b)	746	0	1,372	2,118	1,366
Total expenditure		51,525	0	35,694	75,557	48,637
Net income / (expenditure) resources	before
transfer		7,993	0	7,953	15,946	55,017
Transfers:
Gross transfers between funds - in		476	6,342	3,066	9,885	4,509
Gross transfers between funds - out		0	-6,342	-3,052	-,9855	-4,509
Other recognised gains / losses
Gains/losses on investment assets		0	0	0	0	0
Gains on revaluation, fixed assets,
charity's own use		0	0	0	0	0
Net movement in funds		8,469	0	7,477	15,946	55,017
Reconciliation of funds
Total funds brought forward		34,069	11,329	51,623	97,021	42,004
Total funds carried forward		42,538	11,329	59,100	112,967	97,021

There may be minor discrepancies in the totals if the pence are not being shown

PCC Annual Report & Account 2023

March 2024