2024-01-31-accounts

REGISTEREO CHARITr NUMBER.. 221621 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 FOR CWELRY OF SMETHWICK Prim• Chartered Accountants 161 Newhall Street Bim7iryJham 83 1SW

CHAPELRY OF SMETHWICK CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Report of th• Tru$tfj•• Indgp•ndent Examln•rfs Rwrt stst•m•nt of Flnanclal Actl¥ltS•• Balanc• Sh••t Nots8 ta the Fln*nclal Stst•m•nts 7 to 12 D•talled Stat•m•nt ol Flnanclal AcilvS11 13 to 14

CHAPELRY OF SMETHWICK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 The Iru3lees pwent their report with tt financi81 statsment$ of the charity tr the year ended 31 January 2024. Thè trustees have adopted the PfOViSk)n5 of Accwnling and Repth"ThJ by Ch8rities". Statement ol Re¢¢ynmended Practice appl￿b￿ to Charrt￿ prepanng thw"r accounts in accordance wrth the Financial Reporting Stand•d applubk in thg UK and Republ¢ of Ireland IFRS 1021 leffg¢tNe 1 January 20191. OBJECTIVES AND ACTMTIES ObJ•ctlv•s Unda¥ the goveming d￿uMent, the c4'8ctN8S are to aftw tho maintenance and upkegp of Smethwck Church, ts chur¢hyard 8nd w¢arw and to contrtut¢ lo•rds th• sliynd and •xp•nses of th¢ Vicar. Maln Activiti The TrLtslees continue to 0￿[￿ee the ats￿ otieds 8TrJ mthe payrnents in further8nce of them, financed by inve8trnenl income afxl subject lo the PCC'8 sharry some ol the costs. Publlc b•n•llt The Trustees ha￿ con$Nrf•red the Charity c￿mIsS￿ln'S guthnce on public ￿n8fft and, in particular, the specific guidan¢¢ on charrt$ for th¢ advancement of ￿l￿4￿)rt. The obj8ctives gre of publ¢ benelit as Ihey la¢ilitat8 the work tho chur¢h in thg adV4￿m￿t of (•lvJkx in t1￿ p8nslL ACHIEVEMENT AND PERFORMANCE Ouring the peri¢d under ￿VIeW the chanty contributed £5.383 the NnnirKJ ¢o$18 of the wi￿rage and £13,114 toward8 tho cos18 of providry v￿<$ $lyeThJ. FINANCIAL REVIEW Fln•n¢lal po•ltlon The In¢ome for the year belore expenses was £83,58912ff23.. È78,9841. Direct charitable OxF￿dit￿r• ￿￿ftt￿l to £46.08312023'. £58,147>. The surplus on thè Unrestrthd Gèneral Income Fund lor the yBar muJn￿￿ lo £31,18S12023.. £16,312). At 31st January 2024 the net assets of the charity Iotsiied £2.054.328 12023. £2.0S3,5581. This fffjufe representèd the Permanent Endowment Fund 01 £1.833.26912023" £1.863,685I and thtr Unreslri¢t•d Fund of £221.05912023'. £189,874). Inv•stment Pollcy The invo$tm$nls arg sgk¢tsd for both h)ng tern grty¥th and income to ffinanr4 currenl expenditure. They have perform¥d satislactMty a9ain$l pc4w. Re•?rves Policy Basèd on past experience, the Un￿Stricted Fund is consKlered lo be m8inlained al an 8ppropriale level lo meet any k7rge repairs or oiher expendrture that ccyjld not be funded of ojrrent incomin9 resource$. STRUCTURE. GOVERNANCE AND MANAGEMENT Govèrnlng Docum8nt Th& Chanty's go¥eming thxum•nt cmipnses lrtdentures of Lease 8nd Rse ded respe¢tNety 29th and 30th May 1719 and enLqrged by Acts of Par1￿￿¥nt of 1815 and 1841. It is an unincorpNed Charitable Trust. Trustee S¢lectlon Method Trustees are appointed by exi8tiThJ Trustees. Page 1

CHAPELRY OF SMETHWICK REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 JANUARY 2024 STRUCTURE. GOVERNANCE AND IIANAGEMENT Organisatlonal structurn Investment advice is provided by EFG Harris Alljay. The archrtttt an annual feport on works carried out lo the church and during the prewou5 ￿ and r¢wnmerKled repairs. Th is CMSK1e￿d by thg Trustees each year at their meeting in Juty. day lo day 8dministrabon 1$ Ye8led to Ve Wasbrough Vr￿r￿S LLP where the sewtary, Mrs Jaime Hobday. • partner, oversees matters. Ri8kB The￿ a￿ no major risks 1dentrf￿d by the Truslees though ihe Trust￿ are aware that the Charitys inveslmenls are subject lo variatJns in t￿ stock market to which the Charty is exposed. These risks are ￿￿Wed annualty by th¢ Trustees with the in¥estm•nt thisor8 who con8tanty monrfor the inv6strnent8. REFERENCE ANO ADMINISTRATIVE DETAILS Registered Chorlty number 221621 Prlnclp•l address Voab Wasbrough VY￿rdS LLP PO 8ox 3501 Bri$l BS2 2FL Tru¥t• WTHunt L Mair J R PvJgott NLHowl A R•ason Ir•sNJn•d 19IJr23) SJDav D 8 Alkn lappoinled 911r241 Inde￿n￿ont Exarnln•r J&rerny Kitson FCA Primo Chartered Accojnlants 161 Ne%hall Street Birmingham B3 1SW Pago 2

CHAPELRY OF SMETHWICK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2024 REFERENCE AND ADMINISTPATive DETAILS Ch#rity Name The Charity's ofigin81 name was tho Charty of Dorothy Pakes in the Parish of Sm8thw￿k. S•cretary Mrs J Hobday vea￿ Wasbfough Vizard¥ LLP PO Box 3501 Bristol BS2 2FL Vl¢•r of Sm•thwl¢k Old Church Rev Sara M¢Jor8 Bank Lloyds Bank Pk. 114-116 Cdmr• Rv*, Birningh￿, B3 38D Sollcltor8 v@a￿ Wasbrough Vizards LLP. PO Box 3501. 8nBtd, BS2 2FL Archltect Donald Insèll A88OCiate¥, Hartx)me Court. 67-69 Ro•J. Ed9ba8lon, Biminghwn 815 3BU Stockbrokern and Inve•tm•nt Advls•rs EFG Harris Allday. 33 Greal Charles Stra8t, Birmirth•m. 83 Approvgd by ordw of thg board of trustees on... Pagè 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHAPELRY OF SMETHWICK IrFdependent examirserfs MFK>rt to the trustoos of Chapelry of Smethwick I report to the charily trustees on my examinatKsn of the accounts of Chapelry of SMethW￿k {the Trust) for the year ended 31 January 2024. R•sp0rtsibllltl￿ and basis of r•port A$ the thwrty twslees cl the Twst you are re¥￿$.)1& fN the Pre￿rat￿ clthe a¢c¢unls In ￿l￿anCe wlh the wuirem¢nls of the Charthg$ Act 2011 Ilhe AL#'I. I report in r8sp8cI of my ex8rninion of the Trusf$ ￿untS carrJ out untsr Sectw 145 of the Act and in carrw'rrfJ Out my èxaminalK)n I have lolk>d 1 appl￿abkn th.ro¢th￿s gNen by the Chorty Cunmission und8r Section 1451Sllbl ol the Act Independ•nt examinerfs statement I have completed my examination. I confrThn thal no material matters have comè to my attent￿ in connection with the examination giving me cause to tdkwe that in any material resffj.. accounting re¢ord5 were not kept in respect ol the Tru¥l as rnquired by s•¢1￿ 130 of the Act,. or the ￿C￿ntS do not accord with those records.. or the a¢￿unIS do not clyn￿Y wrth Ihts appl¢ab￿ fwu1r￿ents ¢onc•rning th& fcrfm and content ol account$ set out In the Charit￿8 (Accounts 8nd Reports) Re9uf8t*)ns 2008 other Ih8n any wuirement that the accounts give a true and lair whi¢h is not • mattgr ¢on$id•red •$ part ol an independgnl min8lion. I havg no con¢ems and have come 8crc4$ ro other rnatte￿ in C￿n￿l￿)n ￿th the 8xamination to which allenlion should be drawn In this r•F#yI in ordef lo •nabl8 a propar understanding of the accounts to bg rexhed. Jeremy Kitson FCA Prime Chartered Accountants 161 Newhall Street Bimingham B3 ISW Date.. 15 Ooctober 2024 P8ge 4

CHAPELRY OF SMETHWICK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024 2024 Total fund• 2023 Total lund$ Unrestn"¢t8d ENIo•Yngnt fund fund INCOME AND ENI)OWMENTS FROM Investment income Other inwne .195 3.394 00.195 3.394 76,069 2,915 Totil 83.589 78,984 EXPENOITURE ON Charitable adivrt Charitable actbvltles Church and costs 49.374 13.590 62.964 58.147 Other 8.700 8.700 7,900 Totsl 58.074 13.590 71,664 66,047 Nel Wn￿{10$8￿$I on investments 5,670 118.8261 1147.2491 NET INCOMEI{EXPENDITUREI 31.185 130.416) 1134.3121 RECONCILIATION OF FUNDS T￿1 fund8 brought fopard 189.874 1.863.685 2,053.559 2,187,870 TOTAL FUNDS CARRIED FORWARD 221.059 1,833.269 2,064,328 2,053,5S8 Surplus ond Deficil Accourt 988 Posting discreponckx were I￿n0 in the r•sepm x¢ounls listfjd bekx. This is b8caus8 the brought forward poslings in the current year are not eqLF¥I to the loures camed fo￿Ard by IRIS at the end of Lg81 ￿1. P￿88e ¢heck your postings in the brought forward attounl I￿ the surplus a￿j deficrt account ￿. Unrestrrt& funds Total fund• Brought loThvard . 96811 189.874 189.874 Cariied fomard 189.873 189,873 Difference P￿t lo ￿l￿ant a¢counts18ee UCHA chart ol accounts further deta￿8) The notes form pert of these finan¢HI statwnenls Page 5

CHAPELRY OF SMETHWICK BALANCE SHEET 31 JANUARY 2024 2024 Total funds 2023 Total funds Unresln"ctwJ Endowmonl fvnd fund FIXED ASSETS Tangible assèts Investm¢nts 6.211 1,823.266 13.660 1.930.561 15,347 1.953.242 107.295 114,744 1,829A77 1,944,221 1,968,589 CURRENT ASSETS Cash at bank 108.378 3.792 112.170 86.967 CREDITORS Ami)unts falling due within one {2.0631 12.0631 11,9981 NET CURRENT ASSETS 106.315 3.792 110.107 64,969 TOTAL ASSETS LESS CURRÉNT LIABIUTIES 221.059 1,833.289 2,004.328 2,053.558 NET ASSETS 221.059 1,833.269 2,064.32 2,053,558 FUNDS Unrestnct•J funds Endowment fvnds 10 221,059 1.833,269 189.873 1,863.685 TOTAL FUNDS 2.054,328 2,053,558 Th• In8n¢l l Ststements were gpproved by th• Bowd cl auth￿1￿1 for 148uo on .. an*J wer8 $wJnod on its behall ty. The notes fwn part of these ffinanC￿ statwn Page 6

CHAPELRY OF SMETHWICK NOTES TO THE FINANCIAL STATEME1￿s FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTING POLICIES of preparat5on The linancol $18temenls of the ¢harty. which is a public benefrt entity undef FRS 102, have been p￿pared ifi a¢¢ordan¢& with the Charits SORP IFRS 102} 'A¢¢ounling and Reporting by Charities.. Statement ol Re¢ommend&l Pra¢ti¢¢ applicable to ch8rrtw prepanng their accounts In accordat7ce wth tho Financial R¥porti'ng Standard ¥pplicaJle in th• UK and Republic of Ireland IFRS 1021 leffective l Janu8ry 20191,. Financial Reportiro Standard 102 The Financkal Reporting Standard appbcablè in th8 UK and Republic of I￿￿n¢J. and Charthes Act 2011. fi'nancial statemènts have een prepared under the historical cost convention, wpth the except￿￿ of nveslments whKh are included at Ma￿et vglue, as mOdrf￿d by revalualvJn of certain assets. Flnancl•l ffjportlng standard 102- reduc￿ d18c1￿u￿ •x•mptions The charity has taken advantage of Ihe folthn9 disclosu￿ exemplw in pr¢parirwJ th988 finon¢ial statements. a8 permrthd by FRS 102 The Financwl R•portiNJ Stsr#larf applKabl8 in the UK and Republi¢ of Iwkgnd,: the rfjquirem•nl$ crf Se¢tKin 7 Stat•rnnl of Cash FIM. In¢ome All income * r•¢¢gnMed in Ihe Stat•ment ol Finwoal ActNitie# onc• the charty h85 ￿￿t￿Mont lo th funds, it IB probable that the income will be rec•N•d and the amourtt can be me•8urfjd f•liabty. Expendbtur• Liabilrties are reeoanised as •xpenditur• a8 as Ihem 18 a leg81 or wi8lnKtNe c)IkJ8lion committing the charity to that expendrture. it ts probabl8 that a transfer of economic ben¥fits will b• required in settmenl and Ihe amount of the obl(qath)n can be me8sured reliabty Expenditu￿ 1$ accounted lor on an accruals basis and has been ckssifd under headings that ag9rogate all cost related lo Iht category. Where costs tanncl be dir&tty attnbuled lo partKuL•r headings they have been alhxatgd to gctivf(i¢$ on a basis ¢onsist•nt wrth the Use of res¢wrces. T•ng5ble Ilx•d •M•t• T8ngible fixed assets are $tated at cosL Flxed As•¢t Inv•stmMI• Th8 Inve$lmenis •r• Included ¥1 mark81 valu• al the y*•r •TrY. Gains tssas are included in the Statement of Financial ActNrtw. Taxatlon The charty is exempt from tgx ￿ rts chfjn￿e actNrties. Fund Jccountlng The unrestr￿gd Fund ￿preSentS funds that th8 Irusle•s are fr99 to use In wdance wlth the objects. The Permanent Endrhblnent Fund Tepresenls those a58et$ wh￿h must be held pemi8nently by Ihg chaity. Income 8ri8ing on the endNment fund in accordwc8 wlh th8 objects of the char¢ty and ￿ included as unreStr￿ted income. PaJe 7 ¢ontintxed...

CHAPELRY OF SMETHMCK NOTES TO THE FINANCIAL STATEMENTS- continu•d FOR THE YEAR ENDED 31 JANUARY 2024 INVESTMENT INCOME 2024 2023 Rents r8¢eivable UK listed investments irwne Interest on Church of England Deptssrt" Fund 82 75.984 80.195 80.19S 76,069 OTHER INCOME 2024 2023 Grant from the Listal Places crfworship grnrt sth•m• 3,394 2,915 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remunerat￿ ￿ clher benofrt# for the y*•r end&4 31 January 21r24 r￿r for tha ytar ende(131 January 2023. TrustM•' •xp•n••s Thgre were no Irusl•8s' expen￿ pa￿ for th• y•ar ￿d•d 31 J8nuwy 2ry24 ror for th• year end•d 31 January 2023. COMPAIIATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES unrestric￿ Endtr•mient fund fund Total lund8 114COME AND ENOOWMENTS FROM Inv¢8tmgnl Inc Other income 76.C69 2,915 76.C69 2,915 Total 78,984 78,984 EXPENDITURE ON Charltablè a¢tlvltl•• Church and vi¢arage costs 49.819 8.328 58,147 7.9(K¢ 7,900 Total 57.719 8.328 66,047 Nèt gain8llkMesl on investments 14,222) 1143,027) 1147,2491 NET INCOMEIIEXPENDITUREI Transfers betw•en funds 17.043 1731) 1151.3551 731 1134,312} N•t movwnent in lund¥ 16.312 1150,624} 1134.3121 Page 8 continued...

CHAPELRY OF SMETHWICK NOTES TO THE FINANCIAL STATEMEPffS- continu•d FOR THE YEAR ENDED 31 JANUARY 2024 COMPARATIVES FOR THE STATEMENT OF FINAPKIAL ACTIVITIES- contlnuod Unreslricled Endry￿￿￿1 fund fund Total funds RECONCILIATION OF FUNDS Total funds brought forward 173.561 2,014,309 2,187.870 TOTAL FUNDS CARRIED FORWARD 189.873 1.863,685 2,053.SS8 TANGIBLE FIXED ASSETS ImproNYn•nts Ftttures Ffee lo and prcwty prc￿￿1 fittin95 Tota18 COST At 1 F8bruary 2023 and 31 January ￿rI4 8.211 11.244 4A73 21.928 DEPRECIATION Al l February 2023 Charge for year 2,108 1,687 4,473 6,581 1.687 Al 31 January 2024 3.796 4473 8,268 NET BOOK VALUE Al 31 January 2024 0.211 13,660 At 31 Januory 2023 6,211 9,136 15,347 The cos¢ of Froehoky Prcpety i• made up of the fthrvj.. Fre?￿d Lqnd at SmethwKk (Ir￿1￿￿1ng Church and Church H811. The Church Hall 18 knNn a$ Ihe Dorothy Pathes Centr• WKI is18t on a gruJnd190891 Freehcld VKArag8 S.702 6,211 Smelhw￿k Church Ibuitt 17231 has nol been caprt81ised a8 re10b￿ co81 inftrmalM)n 18 not available and convent￿n￿l valuatbJn 8pproxhes 5rfi¢*nt relkqbilty. P￿9 t￿tinUed...

CHAPELRY OF SMETHWICK NOTES TO THE FINANCIAL STATEMENTS- contlnu•d FOR THE YEAR ENDED 31 JANUARY 2024 HXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 Fabruary 2023 Addit￿nS D13posaL% Revalualws 1,963.242 9,948 19,7491 122.8801 At 31 January 2024 1,930.561 NET BOOK VALUE At 31 January 2024 1 M30.$61 Al 31 January 2023 1.953.242 Th•r8 were no in¥B81mgnl assets outskje the UK. The folk)w'ng hokjings eKh comprise more than 5% ot the martet of the inve8tmtnl portlol

nd aro ¢on8idered by the Trusle8s to be indN*dualty material.

Holdin9 Ma￿•t Valu• 31.01.24 Thg Central Bowd of Finance of the Church of ErKJland 698,801 Inve8lmenl8 affj to the folknmry lund8: 31.01.24 31.01.23 UnW$tr￿1¥d Gen¥ral In¢ome F￿d Pemianent Endowment Fund 107.295 1.823,266 101,626 1,851,616 1.930.561 1,953.242 Pa3e 10 continued...

CHAPELRY OF SMETHWICK NOTES TO THE FINANCIAL STATEmETr￿s- contlnued FOR THE YEAR ENDED 31 JANUARY 2024 CASH AT BANK 2024 2023 UnrestrtW ￿rnianent General End¢yMnent I￿Nne Fund Fund Total fvnds Total funds Lloyd$ Bank plc Thg Central Board of Financo of th8 Church of Erybnd Deposit Fund EFG Harns Alklay Clienls, A¢¢ounts 107.047 2.240 109,287 82.984 2(KJ 1.131 200 2,683 2DJ 3,783 Tdal 108.378 3.792 112.170 88,967 CREDITORS.. AMOUNTS FAWNG DUE WITHIN ONE YEAR 2024 2023 Other creditors 2.063 10. MOVEMENT IN FUNDS Net At 31.1.24 A¢ 1.2.23 In fvnd$ Unrestrlctod funds UnfftslfKled Gener￿ Income Fund 189,874 31.185 221.059 Endowmènt funds Pernianent Endowment Fund IW,685 130,4161 1.833.269 TOTAL FUNDS 2,053.WJ 769 2,064,328 Net M0￿ment in funds, included ￿ th 8t￿0 are 88 Inc(Yning Rgsources rewuices expended Gain8 and Movement los$¢$ in funds Unre$trlct•d funds Unrestricted General In￿ne Fur 158.0741 5,870 31.185 Endowment tund8 Permanent En(1?￿￿8￿ Fund 113,5901 116.826) 130,4161 TOTAL FUNDS 83.589 171.8641 111.1561 769 P&3e 11 continued...

CHAPELRY OF SMETHWICK NOTES TO THE FINANCIAL STATEMENTS- tontinugd FOR THE YEAR ENDED 31 JANUARY 2024 10. MOVEMENT IN FLINDS - continued C¢)mparativ•8 lor mo¥em•nt In fund# Transfers At 31.1 23 At 1.2.22 In funds funds Unr08trl¢t•d funds Unrestricted General Income Fur¥J 173.561 17.043 17311 189,873 Endowment lunds Permanent EndoYn8nt Fur 2,014,309 1151,355) 731 1.863,685 TOTAL FUNDS 2,187.870 {134,3121 2,053,558 Compar81iv• n•t movernent in funds. irKJfjed in tho atrth? are as folM." IncAynitvJ Re80urce8 Gains and Movement in funds Unwtrl¢t•d lunds UnreslrKled General Incc¥n• Fund 78,984 157,719) 14,2221 17,043 Endowrn•nt funds Pern1a￿nt End¢)wmenl Fund 18.3281 1143.0271 1151,355) TOTAL FUNDS 78.984 186,04n 1147,2491 {134,3121 11. RELATED PARTY OISCLOSURES During the year Ihe chonty poNJ £8.700 12022.. £7,860) lor odmin*lr8lNe work supplwd by Vga Wa$brough v￿ardS LLP, a fimi in wh￿h Ihtr Becretary of tha chorty ts a partner. At the year end Ihe bgLqnce owing lo Veale W8sbrough Vizard$ LLP was ÉNil {2022.' £Nill P4¢ 12

CHAPELRY OF SMETHWICK DETAILED STATEMENT OF FINANCIAL ACTMnES FOR THE YEAR ENDED 31 JANUARY 2024 2024 2023 INCOME AND ENDOWMENTS Invegimont Incom? Rents receivablg UK listèd investmonts wKc¥ne Intere51 on Church ol England Deposit Fund 82 75,984 80,196 80,195 76,C69 Oth•r Incom• Grant from the Li51ed Pl￿¥ of Wwdhp grant xheme 3,394 2,915 Total 5ncornSng mour¢ 83,689 78,984 EXPENDITURE Ch•rltable actlvltl•• Vicarage expenditure Church and Churchyard exp•ndrtur• Insurance Charrty bread. gaments and biW - Sm•lhvAck Okl Church Icontributw) Vicarfs stipend and employers, NIC leonlributionl Improvements to property Deprecwtion of lixtuw and frttingB 10,831 16.786 6.S35 1,372 37,149 6,875 200 13,114 1.687 1,179 1,687 55 47.953 48,517 Support costs Oth•r Logal and profegsxmal fe88 Accountancy Investment manag•nent fe•8 8.700 7,871 826 8,328 13,59D 23.186 17,025 Governanc• c￿¢• Independent ex8mit)81 525 505 Total resour¢8$ eXF•nd8d 71,664 66.047 Not Incom• b•for• galnB and Iomos 11.925 12.937 Reo11sed re¢ognbed galn$ and k•s8•8 Carried fO￿ard 11.400 12,432 This page does not fomi part of thè Statut￿ finarKial statwnents Page 13

CHAPELRY OF SMETHWICK DETAILED STATEP4lEiif OF FINANCIAL ACTIWThES FOR THE YEAR ENDED 31 JANUARY 2024 2024 2023 R•all$•d recognlsed galns and loss•s Brought forw8rd GainslLosses on fixed 8sset investments 11,400 111.1561 12.432 1147,2491 Net incorn•1lex￿ndltuf•I 1134,3121 Thts page not form part ofthe statutory financi￿ statements Page 14