## FINANCIAL STATEMENTS 

## OF THE 

## WORDSLEY PAROCHIAL CHURCH COUNCIL 

## FOR THE 

## YEAR ENDED 315 DECEMBER 2021 

## Independent examiner : 

BR Hubble AFA MIPA, CMI Clover Accountancy Limited 17 High Street Wall Heath Kingswinford West Midlands DY6 0HB 



## INDEPENDENT EXAMINER’S REPORT TO THE WORDSLEY TEAM PAROCHIAL CHURCH COUNCIL 

I report to the members of the Wordsley Team Parochial Church Council (PCC) on my examination of the accounts for the year ended 31° December 2021. 

Responsibilities and basis of report 

As the members of the PCC you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). You consider that an audit is not required for this year under section 144(2) of the 2011 Act, and that an independent examination is needed. 

## It is my responsibility to: 

- e Examine the accounts under section 145 of the 2011 Act; e Follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and 

- e State whether particular matters have come to my attention. 

Basis of independent examiner’s statement My examination was carried out in accordance with the General Directions given by the Charities Commission. 

An examination includes a review of the accounting records kept by the PCC and a comparison of those accounts presented with those records. It also includes consideration ofany unusual items or disclosures in the accounts, and seeking explanations from the PCC concerning such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion on the accounts. 

## Independent examiner’s statement 

I have completed my examination. I confirm that no material matter have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. Accounting records were not kept in respect of the activities of the Church as required by section 130 of the Act; or 

2. The accounts do not accord with those records. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

[seorg (pb B R Hubble AFA MIPA, CMI Clover Accountancy Limited 17 High Street Wall Heath Kingswinford West Midlands DY6 0HB 

22"! March 2022 



WORDSLEY PAROCHIAL CHURCH COUNCIL — 

## BALANCE SHEET AS AT 31 DECEMBER 2021 

|||Note|2021|2020|
|---|---|---|---|---|
||||£|£|
|FIXEDASSETS|||||
|Investments||5|§4083<br>54083|46025<br>46025|
|CURRENTASSETS|||||
|Accrued Income||7|3601|7357|
|Shorttermdeposits<br>Cashatbank|||9853<br>95710|9843<br>87274|
||||109164|104474|
|LIABILITIES|||||
|Amountsfallingduewithinoneyear||8|21600|21720|
|NETCURRENTASSETS|(LIABILITIES)||87564|82754|
|NETASSETS|||141647|128779|
|FUNDS<br>Unrestricted<br>Restricted<br>Endowment||9|60731<br>49865<br>31051<br>141647|58667<br>48635<br>21477<br>128779|



## Approved by the Parish Church Council on 


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## WORDSLEY PAROCHIAL CHURCH COUNCIL 

## STATEMENT OF FINANCIAL ACTIVITIES 

## FOR THE YEAR ENDED 31 DECEMBER 2021 

||Note|Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|2021|2020|
|||£|£|£|£|£|
|Incoming Resources|||||||
|Incoming resourcesfromdonors|2a|71456|2017|0|T3473|73132|
|Othervoluntary incomingresources|2b|5883|24|0|5907|2819|
|Incomefrom charitableandancillarytrading|2|41036|0|0|41036|35256|
|Otherordinary incomingresources|2d|192|0|0|192|158|
|Incomefron investments|2e|10|1446|0|1456|1426|
|IncomefromGoveramentCovidGrants|2f|25997|0|0|25997|10665|
|Totalincoming Resources||344574|3487|i)|148061|123456|
|Resources Used|||||||
|Grants<br>Activities relatingtotheworkofthechurch|3a<br>3b|2340<br>107869|0<br>2257|0<br>0|2340<br>110126|3235<br>126377|
|Church managementandadministration|3e|12998|0|0|12998|14003|
|Miscellaneous expenses|3d|0|0|0|0|143|
|ChurchHall|3e|16684|0||16684|14803|
|TotalResourcesUsed||139891|2257|0|142148|158561|
|Netincoming/(Outgoing) Resources||4683|1230|0|5913|-35105|
|Gains/(losses)on Lnvestments:|||||||
|Unrealised||2849||3857|6706|2958|
|NetMovement in Funds||7532|1230|3857|12619|-32147|
|Balancesbroughtforward at01.01.2020||58667|48635|21477|128779|160926|
|PriorYearAdjustment||249|||249|0|
|AdjustmentreaccruedvalueofEudowment||-5717||5717|0|0|
|Balancescarriedforwardat31.12.2020||60731|49865|31051|141647|128779|





## WORDSLEY PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315T DECEMBER 2021 

## 1. ACCOUNTING POLICIES 

## General 

In accordance with the Charities Act 2011 and the Church Accounting Regulations, together with applicable accounting standards, the Financial Statements for the year ended 31° December 2021 have been prepared on the accrual basis. 

## FUNDS 

General funds represent the funds of the PCC that are not subject to any restrictions on their use, and are available for application on the general purposes of the PCC. Other funds which have been designated for a particular purpose by the PCC are also unrestricted. 

Restricted and Endowment funds are funds that must be applied for a particular purpose that has been designated by an authority, or application of law other than the PCC. 

## INCOMING RESOURCES 

## Voluntary Income and Capital Sources 

Collections are recognised when received by or on behalf of the PCC. Planned Giving receivable under covenant is recognised upon receipt. Income Tax recoverable under Gift Aid Tax is recognised when it falls due. 

Grants and legacies to the PCC are accounted for when the PCC is notified of its legal entitlement to the amount so due. 

Funds raised by Special Fund Raising events are accounted for gross. 

## Other Ordinary Income 

Rental Income from the letting of Church premises, including the Church Hail, and other miscellaneous income is recognised as the income falls to be due. 

## Income from Investments 

Dividends and interest on investments are accounted for when receivable. 

## Gains and Losses on Investments 

Realised gains or losses are realised upon the sale of the investment. Unrealised gains or losses are accounted for on revaluation of the investments as at the year end. 



## WORDSLEY PAROCHIAL CHURCH COUNCIL 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 315T DECEMBER 2021 

## RESOURCES USED 

Activities directly relating to the work of the Church The Diocesan Quota is shown in the accounts is the amount paid relating to the accounting year 2021. The actual sum assessed by Worcester Diocese for that year was £75,128. In past years provision has been made on the basis that the shortfall would be met at some point in the future. However, with the current economic situation, following on from the effects ofCovid-19 on the activities of the Church, it is the opinion that no such provision can be made as there is not a realistic expectation that this shortfall can be met in the foreseeable future. 

The shortfall in the Diocesan Quota for 2018 and 2019 continue to be accrued as a liability for the time being. 

## FIXED ASSETS 

Consecrated Land and Buildings Consecrated and beneficed property is excluded from the Accounts by the Charities Act 2011. 

Moveable Charch Furnishings No value is placed on Moveable Church Furnishings held by the Churchwardens on a special trust for the PCC, and, which require a faculty for their disposal, as the PCC consider this to be inalienable property. 

All expenditure incurred during the year on Consecrated or Benefice Buildings, and Moveable Church Furnishings, whether maintenance or improvement, are written off as expenditure in the Statement of Financial Activities and separately disclosed. 

Investments Investments are shown at their Market Value at the 31% December 2021. 

## CURRENT ASSETS 

Amounts due to the PCC at 31% December 2021 in respect of outstanding fees, rents or other income are shown as debtors, less any provision for amounts that may prove uncollectable. Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank. 

## CONTINGENT LIABILITIES 

No contingent liabilities have been provided for at the year end. 



NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021 

## WORDSLEY PAROCHIAL CHURCH COUNCIL 

## 2 INCOMING RESOURCES 

|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|2021|2020|
|||£|£|£|£|
|2a|Incomingresources from donors|||||
||Planned giving:|||||
||Gift Aid Offerings<br>IncomeTaxrecoverableoncovenants|56904<br>12568|1311<br>384|58215<br>59440<br>12952-12658||
||Collections(open Plate) atallservices|1984|322|2306|959|
||Mission Giving|||0|75|
|||71456|2017|73473|73132|
|2b|Othervoluntary incoming resources|||||
||Fead raising|1782||1782|554|
||Donationsand legacies|410}|24|4125|2265|
|||5883|24|5907|2819|
|2¢|Incomefrom charitableand ancillary trading|||||
||Lettings<br>Fees|10582<br>30454<br>41036|0|10582<br>30454<br>41036|11690<br>23566<br>35256|
|2d|Otherordinaryincomingservices|||||
||Miscellaneous income|192|0|192|158|
|Ze|Income from investments|||||
||Dividendsand interest includingany|||||
||reclaimed tax|10|1446|1456|1427|
|2fGovernment|GovernmentCovid Grants|||||
||Charch HallSupportGrants|22735|0|0|4934|
||Job Retention Scheme|3262|Q|0|5733|
|||25997|0|25997|10665|
||TOTAL|144573|3487|148060|123457|





, 

## WORDSLEY PAROCHIAL CHURCH COUNCIL 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021 

## 3 RESOURCES USED 


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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Endowment|=|Total|Total|
|Funds|Funds|Funds|2021|2020|
|£|£|£|£|£|
|3a|Grants|
|Missionary and|charitable giving:|
|Home missions and other Church|societies|2340|2340|83235|
|3b|Activities|directly|relating to the work of the Charch|
|Ministry:|Diocesan quota|55675|55675|44540|
|Church running expenses|6702|6702|5481|
|Church maintenance|8063|1963|10026|«=38334|
|Organist & Verger|4996|4996|
|Upkeep|of|churchyards|5425|5425|5375|
|Organ|repairs and music|Q|294|294|1712|
|Worship and evangelism|2937|2937|4660|
|107869|2257|110127|119107|
|3c|Church|management and administration|
|Secretarial|9130|9130|10128|
|Office and administration|1558|1558|1570|
|Fees and charges|2310|2310|82305|
|12998|12998|14003|
|3d|Miscellaneous expenses|0|0|143|
|3e|Church|Hall|
|Hall running costs|11735|11735|= 14803|
|Hall maintenance|4949|4949|fi]|
|16684|16684|14803|
|TOTAL RESOURCES|USED|139891|2257|0|142149|151291|

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## WORDSLEY PAROCHIAL CHURCH COUNCIL 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 315T DECEMBER 2021 

## 4. STAFF COSTS 


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||||
|---|---|---|
|2021|2020|
|£|£|
|Wages and salaries|9130|10128|

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During the year the PCC employed a secretary, a cleaner and vergers none of whom were remunerated at the rate of £40,000 per annum or more. The wages and salaries are shown gross of the furlough grant of £3262 (2020 £5,731). 

No member of the PCC, other than members of the Ministry Team, received any reimbursement of expenses or remuneration. 

5. INVESTMENTS 


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|||||||||
|---|---|---|---|---|---|---|---|
|Shares|held|in|the|Central|Board of Finance|Investment Funds|:|
|Market Value|
|2021|2020|
|£|£|
|2250.98|Shares @ 2044.67p per share|54083|46025|

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## 6. ANALYSIS OF NET ASSETS BY FUND 


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||||||
|---|---|---|---|---|
|Unrestricted|Restricted|Endowment|Total|
|Funds|Funds|Funds|
|£|£|£|£|
|Fixed Assets-|Investments|23032|31051|54083|
|Current Assets|59299|49865|109164|
|Current Liabilities|-21600|-21600|
|FUND BALANCE|60731|49865|31051|141647|

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## WORDSLEY PAROCHIAL CHURCH COUNCIL 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 315 DECEMBER 2021 

|7.|DEBTORS|||
|---|---|---|---|
|||2021|2020|
|||£|£|
||Gift Aid Tax Recoverabie|3601|4536|
||Accrued Fees|0|2821|
|||3601|MERYI<~|



|8.|LIABILITIES|||
|---|---|---|---|
||Amounts falling due withinone year:|||
|||2021|2020|
|||£|£|
||DiocesanQuota|18998|18998|
||Accruals|1650|1625|
||Creditors|952|2378|
|||21600|21661|



## 9. FUND DETAILS 

The Unrestricted Funds comprise excess shares held as Investments, the General and Church Hall Funds, which are not subject to any restrictions regarding their use. These funds are available for application on the general purposes of the PCC. 

## The Restricted Funds consist of: 

The Windows Fund — set up to provide for the repair and maintenance of the Church Windows. 

The Restoration Fund -- for the maintenance of the Church Building and fabric. 

The Endowment Funds comprise a number of bequests requiring the income and funds to be applied either in general use or Churchyard maintenance.