Charlty rng15tratlon numbor 1206664 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PEfER$ HILLFIELDS COVENTRY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024
THE PAROCHIAL CHURCH COUNCIL OF ThE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY LEGAL AND ADMNISTrATIVE INFORMATION Trusta•s Rev M Spina Rev P J Atkinson Pho B Crilchley J Mccoach J E Perry- Straker J Dash D M Senror Dr E O Chukwuma-Nwuba J C Clark J W Boume T Fakeye {Apkxsinted 26bh May 20241 E Howell (Appointed 26th May 20241 F Kratt Ilwpointed 26th May 20241 Règlstèrnd offlc• st Pet&rs Church Chartes Street Hlllfields Coventry CV15NP Charity number 1206664 Independent examiner Erdingsworth Businegs & Tax Advisors Ltd Unit 3 Cuckoo Wharf 427 LichfieK1 Road Blm)ingham
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PEfERS HILLFIELDS COVENTRY CONTENTS Page Independent examiner's report Truste8s Report Stat8m8nt of flnancial acliviti8s Balance sheet 10 Note$ lo Ihe finarKial 3tstom8nts 11- 17
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PEfERS HILLFIELDS COVENTRY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PERs HILLFIELDS COVENTRY I report to the trustees on my examination of the financi81 statèmants of Tha Parochial Church Council Of The Eccl8siaslical Parish Of St Peter8 HillfieIds Coventy Ilhe Charity) for the year endèd 31 December 24. Responslbllltlos and basis of report As the trustees of the Char¢ty land Its directors for the purposes of Company Law) you are reswnsibl8 ft)r the pieparalion of the financlal ststements In accordance w7th the requirements of the Compan$ Act 2006 Ithe 20t)6 Act). Havlng sallsfied myselfthat the financial statements of the Charity are not roquired lo be audited under P8rt 16 of the act 2(106 Act and are eligible for Independent examination, I report in respect of my examlnatlon ofthe Charity's financiol statements conduetsd under sectlon 145 ofthe Charities Act 2011 (the 2011 Acll. In condu¢Jng my examinolion, I h8ve followed all tha applicabl8 dirg¢tlon$ glvgn by the Charity Commission under sectSon J45{5}Ib) of the 2011 Act. Indepondont oxaminer'$ $tat•m•nt Since the Charity's grtsss Income exceeded £35.000 your exominer must ba a meMr of a body118ted Sn section 145 of the 2011 Act. I confirm that l am quallffed to undertake the gxamination because l am a member of the Association of Accounliw Technicrans {AATI. whlth is one of Ihe listed bodies. I havts completed my gxamination. I confirm that no matters have come to my attention in conneetlon with the examination gNing me cause to belleve that In any materlal respect: accounting records were not kept in respect of the Ch8rlty as requlred by seotK)n 386 of the 2006 Ael.. or 2. the financial stslements do not accord with these reGords', or 3. the financial statements tlo not comply with the accounting requirements of section 396 of the Act olhor than any reqU1ment that the accounts give a Inje and fair vlew which is not a matter consmlered as part of an Independent examlnation. or 4. the financial ststements hav8 not been prepared in ac¢ordan¢o tho methods and principlas of the Slalement of ReGommended PraCCe for accounllng and rgportlng by tharities preparing theSr accounts in acrdan wth the Financial Reportiry Standard applicable in the UK and Ireland IFRS 1021. I have no concems and have come across no other matters in connectlon wth the examinalion to whic attention should be drawn in thi5 repK)rt to enable a proper understanding of the financlal statements to be reached. Erdlng$worth BusSn•ss & Tax Advisors Ltd Unil 3 Cuckoo Wharf 427 Llchfleld Road Birmlngham B6 7SS Dated.. 25th Aprfl 2025
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY TRUSTEES REPORT FOR THE YEAR ENDED 31•t DECEMBER 2024 The trlteeB present their annLtal report and financlal slalgmenls of thg chadty for thg ygar endgd 31 Dgcember 2024. The financial slalements have been prepar8d In accordance with th8 accounting policies set out in note 1 to the aco)unts and comply with the charity's trust deed, the Charities Act 2011. and the Statement tsf Recommended Practice 8ppllcable lo ch8rlUes prèparlng th6lr accjnts In accordance wth the Finanolal Reportlng Stsndard appllcablo in the UK and Rapubllc of Ireland IFRS 1021 leffeclive 1 January 2D151. The board of trustees we satisfied with the rf0M1nee of the charity during the year and the Sl0n on 31 December 2024 and consiéer Ihatthe charity is in a strong position lo ntinUe its Bctivities during Ihe coming yew. and th6 charity's 8ss6ts ale ad&qual8 t<J fulfil Its oblloatlons. STRUCTURE, GOVERNANCEAMD hlANAGEMENT Strudur¢p govgrnance, and management a. Constilution st Peterfs Hillfields is the Church of England parish church of Hi1ffi61ds. Coventry. We81 MSd18nd8 in the Dlocese of Coventy. Our goveming document is The Paroohi81 Church Councils (Powers) Mgasure 1956 as amended and the Church Representation Rules leontalned in Schedule 3 to the Synodical Government Measure 1969 as amended). This measure came into effs¢t on 0210111957. b. Recruhment and appolntment of trustees Sl Peter's Hillfièlds Sl Peter's Hiiifields PCC members fom the Iruslee board of the charity. According lo the C of E PCC Representation Rules noletl above. these trustees wll therefore necessarily include the incumbent parish priest and any other priest assigned as curate or assoclats minister plus any iicensea minister ana iwo cnurcnwardens eieciea at Annual Parish C"nurcn Meeting. Tne numtjer of ramaining trusta8s is voluntegrs, 818Ctod by the APCM. all ofwhich would be expected to sharo a similar passion for following the Lord Jesus Christ who came to save us all, wth a heart biassed towards ihe poor11.e. the ones that this chadty seeks lo help}. There are no constittJtionAI provisions for alacting any other persons or bod$.
THE PAROCHIAL CHURCH COUMCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Organisational structuro and dgci5i0n4naking policies The Parochial Church Council Of Th& EcclesiastiC81 P8rish Of St Peters Hillfields Coventry Is Charitsbl& IncoTporaled Organisation ICIOI, r8glst8red wlth the Charity Commlsslon In England and Wales 8né govemed by the Board of Trustees and the main aim is the advancement of the Christian laith in accordance with the doctrines set out in the underwritten fourth schedule and the worship of God in Ihe said county and elsewhere and by any means whatsoever including (but not by way of Ilmltsllon} the preaching and proclamÉth)n of thè Christian Gospel and the leaching of Christlan doctrine 8nd principles and the pastoral care of th6 Christian people and the printing and the distribution of the Blblè and Christian Itterature including video and audio recordings or CDS and by any other media, which C may bgcomg avallablg. Pay and R•mun•ratlon of Koy Manag•m8nt Per8onno1 The trustses consi¢Jer that the board of trustees and the senior management team {SMT) comprise the key management personnel of the charity. The charity's senlor managem8nl tgam are all pald in accord8nc& with a publishèd scale of grad&s usèd in thè voluntary sector. Any incr6as68 to thèsè published grades are approved by the trustee board. The chief executive'3 salary is rewewed and approved by the trustee board separately but in line with the policy set out above. Key rtsks and Uncortalntlo$ The Irusleos having had considerallon to and m*)dful of the risk factors for the charity identlfy the followlng: Securing funding remains a sericus challenge to malnlain but to expand our service. We understand that the next few years are crfUc81 for us In terms of our sustainability and our long- term survwal. th8 Trustees are taking this risk very seriously and are respc)nding accordirEty The fundina climate is not gettina any easier: nor do we expect it to improve anv b'me scnn - coupled with this demand for our service is increasing meaning that we risk being Unab lo continue meeting our ¢llts. needs and axperien¢e reputstional risk as a result. In order that we can continue to delrver il is essential that we maintain OUT volunteer base. We. along w(th other Local Citizens Advice, ar8 finding it harder lo attract Suitab volunteers.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY TrUSTEES REPORT (INCLUDING DIRECTORS, REPORT} FOR THE YEAR ENDED 310ECEMBER 2024 Factors th81 are likety to affect the Ilnancial porformance or position in 2024 and further years.. Volallle and nrtain economlc conditions, parti¢LFlarly towards the end of Ihe year resulling from the pandemic and nati¢)nal lockdowns. • Ap)s8ible In(x8ased competltlon in an over-changing voluntary sactor markelpl8ce- we know that the voluntary sector is b8coming a much more competitive sector. partbcularty as fundSng becomes ever harder to access. as a resutt we are seeSng organisalions Qlvers1na Iheir servlrE offer and movlng ftjrther towards our'corè mark&t.' The political environrnenl remalns uncertain, the impact of key national devekfypments is Still very much an 'unknown quantity, but has the Potential lo impact on our position. A Fosslble Increased Competition in an ever4hanging voluntary sector markelpla¢e - we know that the voluntary sector 15 becoming 8 much more competitlve sector, particulady as funding becomes ever harijer lo access. as a result we are seeing organisalions dSverslfylng Ihèlr seThi¢e offer and movrro further lowaftls Our,re market.. Objects The charity's purposes. as set out In the oblects Gonlalned in th8 Comp8ny's Mamorandum of Association. are to promote the advancement of the Chrl8tian fallh In accordance with the doctrines set out in the un9ritten fourth schedule and the worship of God in the said county and elsewhere and by any moans whatsoever including I but not by way of limitatK*nl the preaching and proclamation of the Christian Gospel and the tgaching of Christian dothne and F)rinciples and the pastoral care of the Christian Ople and the printing and the distribution of the Bible and Christl8n literature including vldeo and auQio recordings or CDS and by any other media. whh or may become available.
ThE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Our mayi objedives for the year Promoliro in the EIes18S11C8l Parish of St Peter's Hillfields. Coventry, the Wle misslon of the Church. St Peter's Hillfields works lo womota the whole mission of Church in the context of the above Parlsh Ihrough both Wor(1 (preachng, worship, leaching, etcl and Action for the Our main objectives for the year Promoting in the Eccleslastlcal PaSh of St Peterfs Hillfields, Coventry, th8 whola mission of the Church. St Peter's Hillfields wcKks to promote the whole mlsslon of Church in the context of the abovè Parish through both Word Ipreaching, worship, leaching. et¢) and Action for the prlmary benefit of the people of HilIld$ and the Coventry refugee and asylum seeker community lo whom we ¢)ffer help and supp(¥t wtthoul maklng any dlsllnction. Th888 atthiltth Include: 1. Advancgment of the Christian Farth 2. Measures to relieve poverty (free lunch and breakfast each on one day p8rwe&k} Includlng th& distribution of food pa81$ 3. Warni space In the foyer café area 4. Aweekly youth hub for Secondary 5thool pupils al rlsk of youth vIonCe and knife Crime S. Free Engllsh cLgsses for adult refugges and a5uM seekers three days p8r we8k 6. Free activities for children and familres during school holidays and hair lems 7. sup1eMentary education for chlldren of school age prOved by Into Unlverslty In a dedlcatod area in thè building facilitated by the Charty 8. F&llltsling space for Coventry Embrace to provide h6lp to vulnerable women 9. Communlty welfare groups 10. Art and sewino classes and other recreational activities, intended for tha purpos8 of building community cohesion for local residents and refugee communities. HOW OUR ACTNMES DELIVER PUBLIC BENEFIT Th8 Trustees have takon due regard to the guidance Issued by the Charity Commlssion on what Gonstitutes pubfic benefiL Ple8s& refer to the Reglster of charit$ which describes the different ways that th8 Charfty bring5 benefits to the Peop of Hillfields and beyond. ACHIEVEMENTS AND PERFORMANCE Th& Charity has sean continued growth during 2024 as more people are corning lo the church and getting involved. We have consistently provided w8*kly in P8Tson services to encournge and equip paople In the Chdstlan fallh. Wo havg lebrated the Chrisfjan ro1igiou$ f8StNals wf(h services and toachSng a+Ut them. We have also provided baby dedlcalions and baptism. We have united with othèr churchès In area to 8UPPOrt each other ond bring cohesion wlth other Christian communities. -Ddivering English lessons I'ESOL'I to 125+ refugees throe mcfflings per w•ek. -Providing social interaction gTOUPS for refugoes, asylum seekers. and the homeless iwo days a week. Activities includè.. a games group with table tennis. pool, and cho8s- a sewing and knitting dass.. an art class. All rgsources are provided free of charge.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PEfERS HILLFIELDS COVENTRY TRUSTEES RepoRT IINCLUDING DIRE¢TORS' REPORTI FOR THE YEAR ENDED 31 DECEMBER 2024 -Providing free actNities for children and families every schcM)I h(Aiday and halfterm, whSch aayS Indude a fr99 cooked meal for all paruclpants. -Providing a warm Spaco over wnter months wilh hot drinks and snacks availabl8. -Facllitating supplementary educatlon delivered by a thlrd-paty charty Ilnto Unlversltyl for schooage children lo boost their aspirations of entering higher educaOn. -FacIlatIng mulllnatlonal Chri811an wor8hlp abng81d8 our knc81 corr*nunlty members In a w8y that makes for s101 he$lon. st Poler's Hillfields began growing from a small congregation of arouThJ 30 Irom 2021 onwards the numbers of people now benefitn9 from the Charity registered in January 2024 have grown exponentially up lo around 250+ per week (including children, youlh, refugees, asylum $ed(ers, and homeless), golng far beyond any objeclNe8 that we may have set at the outseL Incx)me has also grown from £59k in 2021 to £316k in 2024. Sl Petsr's HIllf1dS has bèen successful In attractlng grants from a range of grant-maklng bodles Including Coventy Cty Council, which acknowledges the drflerence th81 Si Peter's is making in Hi11figlds. especialty during school holidays and wrth Teftwees and asylum seeker5. Contrlbutlon of Volunlfjors and Pald SLiff The Chority benefts from 5(k60 volunteers who help amongst other things wth cooking and serving meals, hot drinks and facilltsttng Indoor and outdoor events for youth, children, and families linckjding in publi¢ spaces}, leading social groups, w(%king alongside our paid employees.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISFI OF ST PETERS HILLFIELDS COVENTRY TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 310ECEM8ER 2024 FINANCIAL REVIEW The availability of funding in the charty sector remains drfficull in 8 period of austerlty. The charfty Is fo¢us¢d on providing added value to its funders from a base of Sound mong18ry management and ensuring that our services remain relevant to the strategi¢ objectives of stakeholders at local and naOallove1. The Charty is WOTking hard to deler a cost-effective servTee that genulnety meets the needs of our clients. It remains a chall8nging prospect to rneet the inrAeasing demand wlth slgnlflcanlly reduced lunding resources. In the reporting paiiod, the charrty had a totsl in¢ome of £316,750 {2023.. £274,126) and expenditure of £350,35912023.' £251, 1511. At the year end the charity'$ lotsl funds stsnd at £80.778 {2023: £114.362). PrfnGlpal Funding Sourt•$ The totsl income for the year of £316,750 r8pr8sents a nel inc¥e8se of £42.604 compared to 2023. Wa are especialty grateful lo tho members of the public who have generously donated monèy lo our service over the year. Inv•3tment Pollcy As reqUId in its Memorandum. paragraph 4.17, in furtherance of its objects, and for no other Purposes, the Company ha3 the power to invest or deposit funds in any lawful m8nner {but to invest only after obtaining professlonal advice and havlng regard to the sulta.1 of invostm8nts and the need for iversific8tion}. R059nTeè Pollcy The Parochial Church Council OF The Ecclgsiaslical Parish Of St Peters HIIMelds Cov8nlry is reqUid lo ensu that free monies are available in aach fiscal year lo rneet any foreseeable contingency. The trustees conslder that il would be prudent to sel aside an amount equNalent to &6 months, operating 6xp8nditure. The value of this will bo calculated using an average of 34 rnonth5 running costs bas8d on the currènt annual budget. Th18 Is reviewed on a quarterty basls. Golng Concem After maklng furthor appropriate enquiries. the Trustees have a reasonable expectation that the company has adequate resources lo continua in op8r8tional existence for th8 noar ftjlure, For this reason, they continue to adopt the going concern basis in prep81ing financial statements.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS cOVE1Ry TRUSTEES REPORT {INCLUDING DIRECTORS, REPORD FOR THE YEAR EVDED 31 DECEAIBER 2024 FUTURE PLANS Developing 8 Sustainable Servtce that meets the needs of our cltgnts rernains a priority of the twslee tthird for 2025. The charity will build on thè work completed in the prevlous flscal year lo develop dlversrfied funding streams to irease su8tainability and enable us to 8 diverse Servlce that is responsive lo client needs. The charity will ntinUe to work to ensure that it delivers a coslaeffeclive service. ThnIng that we arg not only offering value for mney lo our exi8ting funders bul that we have 8 vlable offor. whilst nevgr compromi8ing on the high-qualty sgryke that our cllgnls &xpod and deserve. During the year 2025 we will imprr)ve our intgrnal monitoring mochanisms ensuring that we have a ckar undgrstandlng of oach element of the service. the benefits of Ihal are many - we rAn ensure that we are achievlng as much as we can possi1Y achleve and ¢J8livering an excellent servlce to OLtr dlents and ourfund8rs. and we can also understand our buslngss offer and ¢an markètourservio6 o¢cordit¥Jly. The annual report was approved by the twsts9s of thg Gharity on .......... behalf by . and signed on Its Rev M Spina Chalr of Trustees
THE PAROCHL4L CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PERs
HILLFIELDS COVEKfRY
STATEMEKf OF FIt4ANCIALACTIVITIE8
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
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Totsl Unrestrirted
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY BALANCE SHEEr ASA T 31 DECEMBER 2024 2023 Not•s Axed assets Irwestment assets L136 I,iii (tIs5ets Debtors 35.283 34548 Cash at and In hand $1.156 86A39 123,740 Cbdknrs.' amtyJntsfallln¥ duerfthln Oheyear 6,797 IOA89 Netcurrent èssets 79.642 113251 Totsl atsOeS5¢Ufret Ilab1t5 80.7T8 114362 IntomÈfvnds Re5triLtsd fund5 51339 47A37 Llnrestricted fund5 General uNe5tsictedfund5 24439 66925 80.778 80.778 114.362 114.362 The company i8 entttled to the exemption from the audit requirement contained in section 477 of the CoMpanS Aet 2006. for the year endèd 31 December 2024. The diroclors acknowledge their responsibilthes for complying wth the requirements of Ihe Act 2006 whh respect to accounting records and the preparation of financial statements. The membèrs have not required the company lo oblaln an audit of Sts flnanclal stst¢ments for th9 year in question in accordance with section 476. These financial Slalemenls have been prepared in accordance vAth Ihe provislons apICable to companiets subject to small (Thipanies. regime. The flnanclal statements were approved by Ihe trustees on 25th April 2025 ev Matthew Chalr ol Trwstoes io
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounllng Polklg$ Ch•rfty Inforniation Th8 Parochial Church Councll Of The Ecclesiastical Parish Of St Pettr8 Hlllfields Coventy Is a Charlty r8gbstered In England and Wales. Th8 reglst8red offloe Is St Potors Church, Charles Street. Coventy, CV15NP. AGGountlng ¢onventlon Thg financial statements have been prepared in accordance the Charity's Igoveming t*xument}. the Companies Act 2006. FRS 102 Yh6 Financkgl Reportlng Standard applicable in the UK and Rèpublk of Ireland. IFRS 1021 and the Charities SORP 'Accounling and ReP)rn9 by charilies.. Statement of Recommended Practice appli¢able to d)arities preparing thelr accounts in accordance w(th the Financi81 Reporting Standard applicable in the UK and Reputrjic of Ireland {FRS 1021- The charity is a Public Benefit Entity as deflned by FRS 102. Golng ¢on¢om At the time of 8pprovlng the financial statements, the trustses have a reasonable expgctatk that the charlty has adequate resources lo continue in oporation81 èxistence forthe n8arfuture. Thjs, the trustees continue to adopt the going Goncern basis of accounting in preparing the financial ststements. Charftablo funds Unrestricted funds are available for use at the dimtKJn of the trustees in furtherance of Ihelr charitable cbjeclives. IA Incom• Income is recognised when th8 Charty is legally entitled lo it after any perforniance conditions have been me( the amounts can be measured reliabty. and il is probabl6 that Inccrtne will be rec&iveil. Cash donaltons are r9wni59d on receipt. Other d¢)nalion$ arg rocognis8d once th8 Charrty has bo8n notifiad ofthe donation unless porformance ndIts'0nS requlre deferral of the amount. Income tsx recoverable in reLalion to donatlons recolved under GiftAid or deeds of covenant is recognlsed at the time of donal•Jn. Legacies aro recogni$ fx) recelpt or otherwise ifthe Charity has been nottfio¢J of an Fmwnding distribution. the amount is known, and receipt is expected. If the amounl is not kwn, the legacy is Irealed as a conlifYJent asset. li
ThE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PEfERS HILLFIELDS COVENTRY NOTES TO THE FINANCIAL STATEMEpifs (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 ADntIng Policies {¢ontinu•d) Expandlturn Expenditure Is recognisgd onc8 th8re is a18gal or constructive obligallon to transf8r economic benefrt to a third party, it is Knbable that a trdnsfer of economk benefits will bg required in settlement. and the amount of the obligation be measured r8liabty- Expenditur8 is classified by actfvlty. The costs of gach acuvlty are made up of the tf)tal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a 3ingle activty are 8llIKated directly lo that actwtty. Shared costs which conln'bule lo more than one activity and support costs which afe not altribulabfe to a slngle acttvity 8r8 apportioned between thos8 activiU6s on a basis consislenl with the use of r8sour¢es. Central staff costs ore allated based on time spent, and depreciation charggs aro alkxaled on the wtlon of the asset$ use. Investments Invtments are valued at Mark&t value. Cash and ca8h •qulvalents Cash and cash equivalents include cash in hand, deposits held with banks, other $hort-temi IHJuid investments with original malurities of thre8 months or less, and bank over(Irafts. Bank overdrafts are shown within borrowings in current liabilities. Trodo Cradltors Trade credllors are obligations to pay for good8 or seNces that hava acquired in the ornlin8ry coursè of operation from suppliers. Amounts payable are classffied as current IlabllAles payment Is due wlthln one year or less. 11 no( they are presenlea 88 non-current IiaDiimes. Trade creditors are Tecognlso(l initially al transaction pri and subgequently measured at amoth'sed c051 using the effethve inlerest method. Employee benfrftts The ¢o$t ol any unused holiday entitment is recognised in tho peric¥J in which the employees, 5ervice$ aro received. TerMinatTh beneffts are recognisgd immediately as an exnSe when the Charity is demonstrab commltted to lermlnatg the employment of any employee or lo provide terminati bpnefits. 1.10 R•t[rOnI bonefits Payments lo defined contribution retirerrt benefft schemes are charged as an expense as they fall due. 12
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) POR THE YEAR ENDED 31 DECEMBER 2024 Crftlcal accountlng •stSm•ta$ and ftudgoments In the application of tho Charrty's accounting poliues, th8 trustees are requlred lo make judgments. estimates and 8ssumplicJns about the carrying amount of assgts and Ilabillli8s that are not readily apparent from other sources. Thè asllmates and associated assumptions are basèd on historical experienc6 and otherfactors that are relevant.Aclual results may dlffer from these estimates. The estimates and underlylng assumptions are revlew•J on an ongoing basis. Revlslons to 8ccounting estimates are recognised in the period in which tha estimate is revised where the revision affects only that, or in the period of the ievision and future periods where the revision affects both current and future periods. 13
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETERS HILLFIELDS COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donatlons and lfjgacies Unrestricted Unrestricted funds funds 2024 2023 General Leagacies receivable 112,280 125,323 112.280 125,323 DOan$ and gifts General Icontlnuedl 125,323 125,323 112,280 112,280 Restricted Restrrcted 2024 2023 Projects 204,470 148,803 Ana$1$ by fund Unrestrictèd funds Restricted funds 112.280 204.470 316,7SO 125,323 148WJ3 274,126 14
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF 8T PETER8 HILLFIELDS COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2024 Charltable actlvltles Total Totsl 20Z4 2024 2023 Staff costs Depreciation and Impairment Office premise5 ar other costs Govemance costs 168.447 168.447 129940 129,940 25 25 95 95 181,032 181.032 780 120,336 120,336 780 350,284 350,284 251,151 251,151 Analy515 by fund Unrestricted funds Restricted f unds 131,228 131,228 219,056 219,056 350,284 350,284 131A69 119,682 251,151 131.469 119.682 251,151 15
THE PAROCHWL CHURCH COUNCIL OF THE ECeLEsScAL PARISH OF ST PEfERS HILLFIELDS COVENTRY NOTES TO THE FINANCIAL STATEMENTS (CONnNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flx•d Ass•t Investmènts Iod Investments Market Value l January 2024 I,iii 1,016 Additions Net Gainslllossesl on revaluation 25 95 Market Value 310ecember 2024 1,136 I,iii Debtorn 2024 2023 Trade Debtors Prepaid Expenses Other Debtors inc. Gife Claimable 1,931 8A37 5s¢JJ 2.384 2752 23,727 35,283 34,548 16
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLEsSllcAL PARISH OF ST PEfERS HILLFIELDS COVENTRY NOTES TO ThE FINANCIAL STATEMETrrrs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Creditorn: amounts falling duo wlthln ono Or 2024 2023 Trade Creditors PAYEINI Wages Pensions payable Accruals and deffered Income 447 275 2,616 5,101 91 27 2.730 2.395 6.797 10,489 Employe•$ Tha averag8 monthty number of employees durfng the year was 512022: 5) Employm•nt costs 2024 2023 Wa99s and salarfes 168,447 168.447 129.940 129,940 The average hgad¢wnt ¢xpress8d as fiJn-time équivalents was S {2023.. 5}. There wore no empws whose annual remuneration was mc¥e than £60,000. TrustO•B The below trustees recelved remuneration from th9 Charity during the year. J Clark- £9.632 J Boume- £8.302 Relatsd party tran$a¢tlons Lorna Spina employed as community engagement worker cleaner £19.34012023-. £19,541)- There were trustee donations of £9.204.5012023'. £9.204.501 10 IndendOn1 •xamlnatlon The remuneralK)n paid lo tho in¢Jep8nd8nl 8xamin8r was £780 (2023: £7801. 17