```
REGISTERED CHARITY NUMBER: 221621
```
## **`Report of the Trustees and`**
## **`Unaudited Financial Statements`**
```
for the Year Ended 31 January 2021
```
```
for
```
## **`CHAPELRY OF SMETHWICK`**
```
Stanley Yule Chartered Accountants
Waterside House
Waterside Business Park
1649 Pershore Road
Birmingham
West Midlands
B30 3DR
```
```
CHAPELRY OF SMETHWICK
```
```
Contents of the Financial Statements
for the year ended 31 January 2021
```
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`3`|
|**`Independent Examiner's Report`**||`4`||
|**`Statement of Financial Activities`**||`5`||
|**`Balance Sheet`**||`6`||
|**`Notes to the Financial Statements`**|`7`|`to`|`12`|
|**`Detailed Statement of Financial Activities`**||`13`||
```
CHAPELRY OF SMETHWICK
```
```
Report of the Trustees
for the year ended 31 January 2021
```
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31January2021. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicableto charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and
Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives`**
```
Underthegoverningdocument,theobjectivesaretolookafterthemaintenanceandupkeepofSmethwickOldChurch, its
churchyard and vicarage and to contribute towards the stipend and expenses of the Vicar.
```
## **`Main Activities`**
```
TheTrusteescontinuetooverseetheaboveobjectsandmakepaymentsinfurtheranceofthem,financedby investment
income and subject to the PCC's sharing some of the costs.
```
## **`Public benefit`**
```
The Trustees have consideredthe CharityCommission'sguidanceon publicbenefit and, in particular,the specific guidance on
charitiesfortheadvancementofreligion.Theobjectivesareofpublicbenefitastheyfacilitatetheworkthechurchdoes in
the advancement of religion in the parish.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
```
Duringtheperiodunderreviewthecharitycontributed£16,276towardstherunningcostsoftheVicarageand £23,532
towards the costs of providing the Vicar's stipend.
```
## **`FINANCIAL REVIEW`**
## **`Financial position`**
```
The income for the year before expenses was £69,915 (2020: £83,928).
```
```
Direct charitable expenditure amounted to £54,438 (2020: £67,112).
```
```
The surplus on the Unrestricted General Income Fund for the year amounted to £10,398 (2020: £19,480).
```
```
At31stJanuary2021thenetassetsofthecharitytotalled£2,039,037(2020:£2,050,625).Thisfigurerepresented the
Permanent Endowment Fund of £1,907,633 (2020: £1,929,619) and the Unrestricted Fund of £131,404 (2020: £121,006).
```
## **`Investment Policy`**
```
Theinvestmentsareselectedforbothlongtermgrowthandincometofinancecurrentexpenditure.Theyhave performed
satisfactorily against this policy.
```
## **`Reserves Policy`**
```
Basedonpastexperience,theUnrestrictedFundisconsideredtobemaintainedatanappropriateleveltomeetany large
repairs or other expenditure that could not be funded out of current incoming resources.
```
## **`Going concern`**
```
The Charityhasbeenaffectedbytheadventof theCovid-19pandemicinearlyspringof 2020,whichhasadversely affected
the investmentvaluesnamedon the balancesheet,however,the totalinvestmentandreservesvalueare deemed sufficient
toenablethecharitytocontinueoperationsinthenormalwayuntiltheeffectofthepandemichasbeencorrectedin due
course.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing Document`**
```
TheCharity'sgoverningdocumentcomprisesIndenturesofLeaseandReleasedatedrespectively29thand30thMay 1719
and enlarged by Acts of Parliament of 1815 and 1841. It is an unincorporated Charitable Trust.
```
## **`Trustee Selection Method`**
```
Trustees are appointed by existing Trustees.
```
```
Page 1
```
```
CHAPELRY OF SMETHWICK
```
```
Report of the Trustees
for the year ended 31 January 2021
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Organisational structure`**
```
InvestmentadviceisprovidedbyEFGHarrisAllday.Thearchitectpreparesanannualreportonworkscarriedoutto the
churchandvicarageduringthepreviousyearandonrecommendedrepairs.ThisisconsideredbytheTrusteeseachyear at
their meeting in July.
```
```
ThedaytodayadministrationisdelegatedtoVealeWasbroughVizardsLLPwherethesecretary,MrsJaimeHobday, an
associate, oversees matters.
```
## **`Risks`**
```
Thereare no majorrisksidentifiedby the Trusteesthoughthe Trusteesare awarethatthe Charity'sinvestmentsare subject
to variationsin the stockmarketto whichthe Charityis exposed.These risksare reviewedannuallyby the Trusteeswith the
investment advisers who constantly monitor the investments.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Charity number`**
```
221621
```
## **`Principal address`**
```
Veale Wasbrough Vizards LLP
3 Brindley Place
Birmingham
B1 2JB
```
## **`Trustees`**
```
W T Hunt
Miss L Mair
J R Piggott
J Ankcorn (resigned 12.2.21)
N L Howl
A Reason
```
## **`Independent Examiner`**
```
Birgitt Saunders FCCA ACA
Stanley Yule Chartered Accountants
Waterside House
Waterside Business Park
1649 Pershore Road
Birmingham
West Midlands
B30 3DR
```
```
Page 2
```
```
CHAPELRY OF SMETHWICK
```
```
Report of the Trustees
for the year ended 31 January 2021
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS Charity Name`**
```
The Charity's original name was the Charity of Dorothy Parkes in the Parish of Smethwick.
```
## **`Secretary`**
```
Mrs J Hobday
Veale Wasbrough Vizards LLP
3 Brindley Place
Birmingham
B1 2JB.
```
## **`Vicar of Smethwick Old Church`**
```
Reverend D Buckley
```
## **`Bank`**
```
Lloyds Bank Plc, 114-116 Colmore Row, Birmingham, B3 3BD
```
## **`Solicitors`**
```
Veale Wasbrough Vizards LLP, 3 Brindley Place, Birmingham, B1 2JB
```
## **`Architect`**
```
Donald Insall Associates, Harborne Court, 67-69 Harborne Road, Edgbaston, Birmingham
B15 3BU
```
## **`Stockbrokers and Investment Advisers`**
```
EFG Harris Allday, 33 Great Charles Street, Birmingham, B3 3JN
```
```
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
```
```
............................................................................
J R Piggott - Trustee
```
```
Page 3
```
```
Independent Examiner's Report to the Trustees of
```
```
Chapelry of Smethwick
```
## **`Independent examiner's report to the trustees of Chapelry of Smethwick`**
```
I reporttothecharitytrusteesonmyexaminationoftheaccountsofChapelryofSmethwick(theTrust)fortheyear ended
31 January 2021.
```
## **`Responsibilities and basis of report`**
```
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
```
```
I reportin respectof my examinationof the Trust'saccountscarriedout undersection145 of the Act and in carryingout my
examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
```
I have no concernsand have come acrossno othermattersin connectionwith the examinationto whichattentionshould be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
Birgitt Saunders FCCA ACA
Stanley Yule Chartered Accountants
Waterside House
Waterside Business Park
1649 Pershore Road
Birmingham
West Midlands
B30 3DR
```
```
Date: .............................................
```
```
Page 4
```
## **`CHAPELRY OF SMETHWICK`**
## **`Statement of Financial Activities for the year ended 31 January 2021`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`2`
`Other income`
`3`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`Church and vicarage costs`
`Other`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`fund`
`£`
**`69,915`**
**`-`**
**`69,915`**
**`54,438`**
**`9,090`**
**`63,528`**
**`4,011`**
**`10,398`**
**`121,006`**
**`131,404`**|`Endowment`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`(21,986)`**
**`(21,986)`**
**`1,929,619`**
**`1,907,633`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`69,915`**
**`-`**
**`69,915`**
**`54,438`**
**`9,090`**
**`63,528`**
**`(17,975)`**
**`(11,588)`**
**`2,050,625`**
**`2,039,037`**|`2020`
`Total`
`funds`
`£`
`73,455`
`10,473`|
|---|---|---|---|---|
|||||`83,928`
`67,112`
`10,133`|
|||||`77,245`
`225,854`|
|||||`232,537`
`1,818,088`|
|||||`2,050,625`|
```
The notes form part of these financial statements
```
```
Page 5
```
## **`CHAPELRY OF SMETHWICK`**
## **`Balance Sheet 31 January 2021`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`6`
`Investments`
`7`
**`CURRENT ASSETS`**
`Cash at bank`
`8`
**`CREDITORS`**
`Amounts falling due within one year`
`9`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`10`
`Unrestricted funds`
`Endowment funds`
**`TOTAL FUNDS`**|`Unrestricted`
`fund`
`£`
**`111`**
**`95,464`**
**`95,575`**
**`38,009`**
**`(2,180)`**
**`35,829`**
**`131,404`**
**`131,404`**|`Endowment`
`fund`
`£`
**`6,211`**
**`1,896,013`**
**`1,902,224`**
**`5,409`**
**`-`**
**`5,409`**
**`1,907,633`**
**`1,907,633`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`6,322`**
**`1,991,477`**
**`1,997,799`**
**`43,418`**
**`(2,180)`**
**`41,238`**
**`2,039,037`**
**`2,039,037`**
**`131,404`**
**`1,907,633`**
**`2,039,037`**|`2020`
`Total`
`funds`
`£`
`7,216`
`2,012,163`
`2,019,379`
`33,138`
`(1,892)`
`31,246`
`2,050,625`
`2,050,625`
`121,006`
`1,929,619`
`2,050,625`|
|---|---|---|---|---|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon .............................................
and were signed on its behalf by:
```
```
.............................................
J R Piggott - Trustee
```
```
The notes form part of these financial statements
```
```
Page 6
```
```
CHAPELRY OF SMETHWICK
```
```
Notes to the Financial Statements
for the year ended 31 January 2021
```
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparation`**
```
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011. The
financialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexceptionof investments
which are included at market value, as modified by the revaluation of certain assets.
```
## **`Financial reporting standard 102 - reduced disclosure exemptions`**
```
Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthesefinancialstatements, as
permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
```
- `the requirements of Section 7 Statement of Cash Flows.`
## **`Income`**
```
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedas expenditureas soonas thereis a legalorconstructiveobligationcommittingthe charity
to that expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlementand the amount
of the obligationcan be measuredreliably.Expenditureis accountedfor on an accrualsbasisandhas been classified
underheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributed to
particular headings they have been allocated to activities on a basis consistent with the use of resources.
```
## **`Tangible fixed assets`**
```
Tangible fixed assets are stated at cost.
```
## **`Fixed Asset Investments`**
```
Theinvestmentsareincludedatmarketvalueattheyearend.GainsandlossesareincludedintheStatement of
Financial Activities.
```
## **`Taxation`**
```
The charity is exempt from tax on its charitable activities.
```
## **`Fund accounting`**
```
TheUnrestrictedFundrepresentsfundsthatthetrusteesarefreetouseinaccordancewiththeobjects. The
PermanentEndowmentFund representsthose assets which must be held permanentlyby the charity.Income arising
ontheendowmentfundcanbeusedinaccordancewiththeobjectsofthecharityandisincludedas unrestricted
income.
```
```
continued...
```
```
Page 7
```
```
CHAPELRY OF SMETHWICK
```
## **`Notes to the Financial Statements - continued for the year ended 31 January 2021`**
## **`2. INVESTMENT INCOME`**
|`UK listed investments income`
`Interest on Church of England Deposit Fund`
**`OTHER INCOME`**
`Grant from the Listed Places of Worship grant scheme`|**`2021`**
**`£`**
**`69,914`**
**`1`**
**`69,915`**
**`2021`**
**`£`**
**`-`**|`2020`
`£`
`73,453`
`2`|
|---|---|---|
|||`73,455`|
|||`2020`
`£`
`10,473`|
## **`3. OTHER INCOME`**
## **`4. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31January2021norfortheyear ended
31 January 2020.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 31 January 2021 nor for the year ended 31 January 2020.
```
## **`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`Other income`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`Church and vicarage costs`
`Other`
**`Total`**
`Net gains on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`fund`
`£`
`73,455`
`10,473`
`83,928`
`67,112`
`10,133`
`77,245`
`12,797`
`19,480`
`101,526`
`121,006`|`Endowment`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`213,057`
`213,057`
`1,716,562`
`1,929,619`|`Total`
`funds`
`£`
`73,455`
`10,473`|
|---|---|---|---|
||||`83,928`
`67,112`
`10,133`|
||||`77,245`
`225,854`|
||||`232,537`
`1,818,088`|
||||`2,050,625`|
```
continued...
```
```
Page 8
```
```
Notes to the Financial Statements - continued
for the year ended 31 January 2021
```
## **`CHAPELRY OF SMETHWICK`**
## **`6. TANGIBLE FIXED ASSETS`**
|`Fixtures`
`Freehold`
`and`
`property`
`fittings`
`Totals`
`£`
`£`
`£`
**`COST`**
`At 1 February 2020 and 31 January 2021`
**`6,211`**
**`4,473`**
**`10,684`**
**`DEPRECIATION`**
`At 1 February 2020`
**`-`**
**`3,468`**
**`3,468`**
`Charge for year`
**`-`**
**`894`**
**`894`**
`At 31 January 2021`
**`-`**
**`4,362`**
**`4,362`**
**`NET BOOK VALUE`**
`At 31 January 2021`
**`6,211`**
**`111`**
**`6,322`**
`At 31 January 2020`
`6,211`
`1,005`
`7,216`
`The cost of Freehold Property is made up of the following:`|`Fixtures`
`Freehold`
`and`
`property`
`fittings`
`Totals`
`£`
`£`
`£`
**`COST`**
`At 1 February 2020 and 31 January 2021`
**`6,211`**
**`4,473`**
**`10,684`**
**`DEPRECIATION`**
`At 1 February 2020`
**`-`**
**`3,468`**
**`3,468`**
`Charge for year`
**`-`**
**`894`**
**`894`**
`At 31 January 2021`
**`-`**
**`4,362`**
**`4,362`**
**`NET BOOK VALUE`**
`At 31 January 2021`
**`6,211`**
**`111`**
**`6,322`**
`At 31 January 2020`
`6,211`
`1,005`
`7,216`
`The cost of Freehold Property is made up of the following:`|`Fixtures`
`Freehold`
`and`
`property`
`fittings`
`Totals`
`£`
`£`
`£`
**`COST`**
`At 1 February 2020 and 31 January 2021`
**`6,211`**
**`4,473`**
**`10,684`**
**`DEPRECIATION`**
`At 1 February 2020`
**`-`**
**`3,468`**
**`3,468`**
`Charge for year`
**`-`**
**`894`**
**`894`**
`At 31 January 2021`
**`-`**
**`4,362`**
**`4,362`**
**`NET BOOK VALUE`**
`At 31 January 2021`
**`6,211`**
**`111`**
**`6,322`**
`At 31 January 2020`
`6,211`
`1,005`
`7,216`
`The cost of Freehold Property is made up of the following:`|`Fixtures`
`Freehold`
`and`
`property`
`fittings`
`Totals`
`£`
`£`
`£`
**`COST`**
`At 1 February 2020 and 31 January 2021`
**`6,211`**
**`4,473`**
**`10,684`**
**`DEPRECIATION`**
`At 1 February 2020`
**`-`**
**`3,468`**
**`3,468`**
`Charge for year`
**`-`**
**`894`**
**`894`**
`At 31 January 2021`
**`-`**
**`4,362`**
**`4,362`**
**`NET BOOK VALUE`**
`At 31 January 2021`
**`6,211`**
**`111`**
**`6,322`**
`At 31 January 2020`
`6,211`
`1,005`
`7,216`
`The cost of Freehold Property is made up of the following:`|
|---|---|---|---|
||||**`£`**|
|`Freehold land at Smethwick (including Church and Church Hall. The Church`
`Parkes Centre and is let on a ground lease)`|`Hall is known as the Dorothy`||**`509`**|
|`Freehold Vicarage`|||**`5,702`**|
|||||
||||**`6,211`**|
|||||
```
SmethwickOldChurch(built1723)hasnotbeencapitalisedasreliablecostinformationisnotavailable and
conventional valuation approaches lack sufficient reliability.
```
## **`7. FIXED ASSET INVESTMENTS`**
|**`MARKET VALUE`**
`At 1 February 2020`
`Additions`
`Disposals`
`Revaluations`
`At 31 January 2021`
**`NET BOOK VALUE`**
`At 31 January 2021`
`At 31 January 2020`
`There were no investment assets outside the UK.`|`Listed`
`investments`
`£`
**`2,012,163`**
**`70,096`**
**`(72,807)`**
**`(17,975)`**
**`1,991,477`**
**`1,991,477`**
`2,012,163`|
|---|---|
```
Thefollowingholdingseachcomprisemorethan5%ofthemarketvalueoftheinvestmentportfolioand are
considered by the Trustees to be individually material.
```
```
continued...
```
```
Page 9
```
## **`CHAPELRY OF SMETHWICK`**
## **`Notes to the Financial Statements - continued for the year ended 31 January 2021`**
## **`7. FIXED ASSET INVESTMENTS - continued`**
|`Holding`
`The Central Board of Finance of the Church of England`
`Investments are allocated to the following funds:`
`Unrestricted General Income Fund`
`Permanent Endowment Fund`
**`8.`**
**`CASH AT BANK`**
`Unrestricted`
`General`
`Income Fund`
`£`
`Lloyds Bank plc`
`36,233`
`The Central Board of Finance of the Church`
`of England Deposit Fund`
`200`
`EFG Harris Allday Clients' Accounts`
`1,576`
`Total`
`38,009`
**`9.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Other creditors`
**`10.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`Unrestricted General Income Fund`
**`Endowment funds`**
`Permanent Endowment Fund`
**`TOTAL FUNDS`**|**`Market Value`**|**`Market Value`**|**`Market Value`**||||
|---|---|---|---|---|---|---|
||||||||
||||**`31.01.21`**||||
||||**`£`**||||
||||**`621,751`**||||
||||||||
||||||||
||||**`31.01.21`**|`31.01.20`|||
||||**`£`**|||`£`|
||||**`95,464`**|||`91,453`|
||||**`1,896,013`**|||`1,920,710`|
||||||||
||||||||
||||**`1,991,477`**|||`2,012,163`|
||||||||
||`Permanent`
`Endowment`
`Fund`
`£`
`2,239`
`-`
`3,170`
`5,409`
`At 1.2.20`
`£`
**`121,006`**
**`1,929,619`**
**`2,050,625`**||**`2021`**
`Total`
`funds`
**`£`**
**`38,472`**
**`200`**
**`4,746`**
**`43,418`**
**`2021`**
**`£`**
**`288`**
**`1,892`**
**`2,180`**
`Net`
`movement`
`in funds`
`£`
**`10,398`**
**`(21,986)`**
**`(11,588)`**||`2020`
`Total`
`funds`
`£`
`31,455`
`200`
`1,483`
`33,138`
`2020`
`£`
`-`
`1,892`
`1,892`
`At`
`31.1.21`
`£`
**`131,404`**
**`1,907,633`**
**`2,039,037`**||
||||||||
```
continued...
```
```
Page 10
```
```
CHAPELRY OF SMETHWICK
```
```
Notes to the Financial Statements - continued
for the year ended 31 January 2021
```
## **`10. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`Unrestricted General Income Fund`
**`69,915`**
**`(63,528)`**
**`Endowment funds`**
`Permanent Endowment Fund`
**`-`**
**`-`**
**`TOTAL FUNDS`**
**`69,915`**
**`(63,528)`**
**`Comparatives for movement in funds`**
`At 1.2.19`
`£`
**`Unrestricted funds`**
`Unrestricted General Income Fund`
`101,526`
**`Endowment funds`**
`Permanent Endowment Fund`
`1,716,562`
**`TOTAL FUNDS`**
`1,818,088`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`Unrestricted General Income Fund`
`83,928`
`(77,245)`
**`Endowment funds`**
`Permanent Endowment Fund`
`-`
`-`
**`TOTAL FUNDS`**
`83,928`
`(77,245)`|`Gains and`
`losses`
`£`
**`4,011`**
**`(21,986)`**
**`(17,975)`**
`Net`
`movement`
`in funds`
`£`
`19,480`
`213,057`
`232,537`
`Gains and`
`losses`
`£`
`12,797`
`213,057`
`225,854`|`Movement`
`in funds`
`£`
**`10,398`**
**`(21,986)`**
**`(11,588)`**
`At`
`31.1.20`
`£`
`121,006`
`1,929,619`|`Movement`
`in funds`
`£`
**`10,398`**
**`(21,986)`**
**`(11,588)`**
`At`
`31.1.20`
`£`
`121,006`
`1,929,619`|
|---|---|---|---|
|||`2,050,625`||
|||`Movement`
`in funds`
`£`
`19,480`
`213,057`
`232,537`||
||||`232,537`|
```
continued...
```
```
Page 11
```
```
CHAPELRY OF SMETHWICK
```
```
Notes to the Financial Statements - continued
for the year ended 31 January 2021
```
## **`11. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 January 2021.
```
```
Page 12
```
```
CHAPELRY OF SMETHWICK
```
## **`Detailed Statement of Financial Activities for the year ended 31 January 2021`**
||`2021`|`2020`|
|---|---|---|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Investment income`**|||
|`UK listed investments income`|**`69,914`**|`73,453`|
|`Interest on Church of England Deposit Fund`|**`1`**|`2`|
||**`69,915`**|`73,455`|
|**`Other income`**|||
|`Grant from the Listed Places of Worship grant`|||
|`scheme`|**`-`**|`10,473`|
|**`Total incoming resources`**|**`69,915`**|`83,928`|
|**`EXPENDITURE`**|||
|**`Charitable activities`**|||
|`Vicarage expenditure`|**`16,276`**|`5,411`|
|`Church and Churchyard expenditure`|**`7,833`**|`37,739`|
|`Insurance`|**`5,708`**|`5,622`|
|`Charity bread, garments and bibles - Smethwick`|||
|`Old Church (contribution)`|**`190`**|`5`|
|`Charity bread, garments and bibles - Harborne`|||
|`Parish Church (contribution) `|**`5`**|`5`|
|`Vicar's stipend and employers' NIC (contribution)`|**`23,532`**|`17,435`|
|`Depreciation of fixtures and fittings`|**`894`**|`895`|
||**`54,438`**|`67,112`|
|**`Support costs`**|||
|**`Other`**|||
|`Legal and professional fees`|**`7,860`**|`9,143`|
|`Accountancy`|**`738`**|`738`|
|`Broker fees`|**`-`**|`(240)`|
||**`8,598`**|`9,641`|
|**`Governance costs`**|||
|`Independent examination`|**`492`**|`492`|
|`Total resources expended`|**`63,528`**|`77,245`|
|**`Net income before gains and losses`**|**`6,387`**|`6,683`|
|**`Realised recognised gains and losses`**|||
|`Gains/Losses on fixed asset investments`|**`(17,975)`**|`225,854`|
|**`Net (expenditure)/income`**|**`(11,588)`**|`232,537`|
```
This page does not form part of the statutory financial statements
```
```
Page 13
```