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2021-12-31-accounts

Page
Notice ofmeeting
Background
information
Report ofthe committee
Report ofthe trustees
Statement ofFinancial Activities
Balance Sheet
Notes to the accounts 7-13
Independent
Examiner's		 Report 14

STATEMEN T OF FINANCIAL ACT IVITIES YEAR TO 3 1 DECEMB ER 2021
Restricted
Unrestricted Income Endowment Total Total
Funds
E		 Funds E Funds f 2021 2020f
INCOME AND ENDOWMENTS FROM:- (Note 5)
Regular
giving		 by worshippers 20,544 20,544 18,293
Donations
and		 legacies 1,077 847 1,924 4,802
Use offacilities by church groups 1,675 1,675 2,351
Use offacilites by outside groups 5,733 5,733 4,804
Other trading
activities		 340 340 1,294
Investments 15,864 847 16,711 17,298
Other - including
Gift Aid tax recoverable		 4,689 4,689 5,012
Total 49,922 847 847 51,616 53,854
EXPENDITURE ON:- (Note 6)
Worship, witness and teaching 9,414 9,414 3,886
Cultural,
social		 and recreational 4,626 4,626 2,223
Property costs 18,382 19,229 26,023
Management
and administration		 23,482 23,482 16,051
Donations General donations 100 100 3148
Ex Harvest & Investment Income 8,000 8,000 6,245
Christian
Aid		 400 587 987 400
Black Country Food Bank 0 260 260 0
From Shoppers Coffee 0 0 350
By other sub-groups 0 0 389
Total 64,404 847 847 66,098 58, 7'/5
Net gains/(losses)
on investments		 12,652 8,375 9,064 30,091 6,534
Net income/fexpenditure
J		 -1,830 8,375 9,064 15,609 1,673
Transfers
between funds
Net movement in funds -1,830 8,375 9,064 15,609 1,673
Total funds brought forward 499,300 144,625 60,770 704,695 703,022
Total funds carried forward 497,470 153,000 69,834 720,304 704 695

BALANCE SHE ET 3 1 DECEMB ER 2021
Restricted
Unrestricted Income Endowment Total Total
Funds Funds Funds 2021 2020
FIXEDASSETS K F E
Tangible assets
Freehold
land and		 buildings (Note 9) 67,313 67,313 67,313
Organ, furnishings and equipment (Note 10) 71,200 71,200 71,200
Investments
(Note		 11)
Trustees 153,000 69,834 222,833 205,395
General 332,127 332,127 330,561
Organ 1,680 1,680 1,108
Total fixed assets 472,320 153,000 69,834 695,154 675,577
CURRENT ASSETS
Debtors (Note 12) 6,842 6,842 6,556
Cash at bank and in hand (Note 13) 24,916 24,916 27,472
Total current assets 31,758 0 31,758 34,028
Creditors: amounts falling due within
one year (Note 14) 6,608 6,608 4,910
Net current assets 25,150 0 0 25,150 29,118
Total net assets 497,470 153,000 69,834 720,304 704,695
THE FUNDS OF THE CHARITY (Note 15)
Endowment
funds		 69,834 69,834 60,770
Unrestricted
funds-designated		 Organ fund 1,680 1,680 1,108
Unrestricted
funds		 495,790 495,790 498,192
Restricted
income funds		 153,000 153,000 144,625
Total funds 497,470 153,000 69,834 720,304 704 695

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2021 2020
E
7 Details ofcertain items ofexpenditure
7.1 Trustees expenses
Number
oftrustees who were paid expenses		 2 2
Telephone
and broadband		 172 299
Mileage 139 515
7.2 With the exception ofthe two named committee members, no member received any remuneration
from the Church.
During the year Mrs. KJohnson received 65,080 (2020:K4,780)for her duties as a cleaner, and Mrs. S
Millington
the wife of member C. Millington,		 received 69,580(2020:68,595)for her duties
as an administrative
assistant
7.3 Fees for the examination
ofthe accounts
Independent
examiner's fees for reporting		 on the accounts 3,120 3,250
Other fees - payroll costs and gift aid claim 1,083 744
8 Paid Employees
8.1 Staff costs
Gross wages and salaries- admin
and		 cleaning 14,660 13,375
8.2 Average
number
of full-time
equivalent		 employees in the year 1 1
9 Freehold
land and buildings
At1 January
and 31 December 2020		 67,313 67,313
10 Organ, furnishings
and equipment
At 1 January 2021 71,200 60,352
Additions 0 10,848
At 31 December 2021 71,200 71,200

NOTES TO THE ACCOUNTS NOTES TO THE ACCOUNTS NOTES TO THE ACCOUNTS 31 DECEMBER 2021 31 DECEMBER 2021
2021 2020
K
11 Investments
11.1 In respect of Endowment Funds
Quoted at valuation 69,964 60,748
Held by brokers -187 -35
Balance at Co-operative Bank 57 57
69,834 60,770
11.2 In respect of Income Funds
TRUSTEES INVESTMENTS (see note 1(p)on page 8)
Quoted at valuation 144,317 143,037
Held by brokers 8,659 1,565
Balance at Co-operative Bank 24 24
153,000 144,625
11.3 In respect of General Unrestricted Funds
OTHER INVESTMENTS
Quoted at valuation 327,709 318,039
Held by brokers -3,053 5,052
Balance at Co-operative Bank 7,471 7,470
332,127 330,561
11.4 In respect of General Unrestricted Funds
ORGAN FUND
Quoted at valuation 849 850
Balance at Co-operative Bank 831 258
1,680 1,108
12 Debtors
Income tax recoverable under Gift Aid 3,500 3,661
Payments
in advance		 2,091 1,797
Sundry debtors 1,251 1,098
6,842 6,556

2021 2020
13 Cash at bank and in hand
13.1 This is made up as follows:-
HFC current account -2,336 -2,657
cash in hand 14 40
Sub-Groups Bank 8 Building Society accounts 26,910 29,679
cash in hand 328 410
24,916 27,472
13.2 Sub-Group balances relate to:-
Badminton Club Shoppers Coffee
Mother &Toddlers Group Sunday School
Hand of Friendship
Centre		 Tuesday Tea Club
14 Creditors: All due within one year
Trade creditors and accruals 6,608 4,910
15 Funds ofthe Charity
15.1 Unrestricted funds are the general funds ofthe Church which may be used at the discretion ofthe
committee/membership
for furthering		 the mission and ministry ofthe Church. The money may be
designated for particular
projects for administration		 purposes only. Designated funds remain
unrestricted and can be redesignated ifthe committee/membership so decides. A designated
organ fund was established many years ago.
2021 2020
5
Organ fund - part ofGeneral Fund but designated
Balance at 1 January 1,108 1,091
Annual
transfer from General		 fund 500 0
Year's dividends/interest 73 0
Change
in value ofinvestments		 -1 17
Transfer to General
Fund re		 purchase of new organ 0 0
Balance at 31 December 1,680 1,108

SUPPLEMENTARY PAGE S TO THE ACCOUNTS 31DECEMBER2021
DETAILS OF DONATIONS MADE
FROM HARVEST AND INVESTMENT INCOME 8 BYSHOPPERS COFFEE
Black Country Food Bank 6,000
Christian
Aid		 500
Bible Society 500
Bamados 500
Kemp Hospice 500
8,000
FROM SPECIAL AND RETIRING COLLECTIONS ETC BYOTHER SUB-GROUPS
Christian
Aid		 587 Mary Stevens Hospice 100
Black Country Food Bank 260
100
AS BUDGETED IN MEMORIAM
Christian
Aid		 400
400
GRAND TOTAL 9,347
GENERAL FUNDS 8,500
RESTRICTED FUNDS 847

Holding Number Number THIS YEAR THIS YEAR Last Year
In res ect of Permanent
Endowment		 Base value Est Yield Value Value
QUOTED AT VALUATION E '/0*
Jupiter
Unit Trust		 7,503 5,020 3.66 4,958
J P Morgan Asian Investment Trust 1,235 4,629 3.87 5,558 5,996
RIT Capital Partners 700 12,606 1.35 19,215 14,420
Rathbone
Ethical Unit Trust		 4,600 4,992 3.34 4,871
Scottish Mortgage
Investment		 Trust 2,250 2,250 0.27 30,083 40,332
VT Gravis Funds 4,600 4,987 4.17 5,279
34,484 69,964 60,748
OTHER
Held by brokers -187 -35
Balance at Co-operative
Bank		 57 57
69,834 60,770
(Base value - cost or probate value) 34,484 20,575
In res ect of General
Fund
TRUSTEES INVESTMENTS (see note 2 on page 8)
QUOT ED AT VALUATION
BHP Group Sold 6,063
GlaxoSmithKline 495 8,074 3.24 7,952 6,642
Henderson
DiversiTied
Income		 Trust 8,850 7,763 5.37 7,257 8,133
J P Morgan Asian Investment Trust 700 2,624 3.87 3,150 3,399
J P Morgan
China Investment		 Trust 3,000 16,649 4.61 14,835
JPM Global Growth
& Income		 4,800 14,914 3.66 22,320 18,504
Mercantile
Investment
Trust		 5,950 15,891 2.57 15,946 14,697
Murray
International
Trust		 Sold 14,382
National
Grid		 944 8,379 4.81 10,003 8,164
North American
Inc Trust		 5,350 16,367 3.80 14,927 13,027
Robeco Luxembourg 53 16,311 0.00 15,697
Royal Dutch Shell 370 8,502 4.07 6,002 4,659
Royal London Sterling Credit 10,913 15,013 3.52 15,693 16,141
Segro Sold 18,569
Vontobel Asset Management 100 10,087 3.30 10,535 10,657
140,574 144,317 143,037
OTHER
Held by brokers 8,659 1,564
Balance at Co-operative
Bank		 24 24
153,000 144,625
(Base value = cost or probate value) 140,574 140,102

Holding Number THIS YEAR THIS YEAR Last Year
In res ectofGeneral
Fund		 Base value Est Yield Value Value
OTHERINVESTMENTS f %* E E
QUOTED AT VALUATION
AXA Inv Managers
Inc Z Fund		 17,000 20,250 4.66 19,839 19,176
Baillie Gifford US Growth trust 12,850 14,847 0.00 40,092 42,020
City of London Investment
Trust		 2,980 12,675 5.03 11,726 11,026
Compass Group 720 11,727 1.42 11,884 9,810
GlaxoSmithKline 108 1,762 3.24 1,735 1,449
Henderson
Diversified
Income		 Trust 14,050 12,324 5.37 11,521 12,912
International
Public Partnership		 10,653 14,765 4.56 18,089 18,110
Jupiter
Unit Trust		 21,997 14,697 3.66 14,536 14,903
Legal &General Group 4,860 12,603 6.29 14,454 12,932
JP Morgan Asian Investment Trust 2,515 9,426 3.87 11,318 12,210
Man Asset Man Ireland Strat Bond 17,000 18,995 5.54 17,629 17,743
Murray International
Trust		 Sold 2,651
National
Grid		 300 2,663 4.81 3,179 2,594
North American
Inc Trust		 500 1,530 3.80 1,395 1,218
Rathbone
Ethical Unit Trust		 14,500 14,925 3.34 15,356 15,911
Reckitt Benckiser Group 250 16,294 2.75 15,853 16,350
RIT Capital Partners 100 1,801 1.35 2,745 2,060
Robeco Luxembourg 12 3,693 0.00 3,554
Royal Dutch Shell 69 1,585 4.07 1,119 869
Royal London Sterling Credit 3,664 5,041 3.52 5,269 5,419
Segro Sold 3,979
Severn Trent 591 11,044 3.47 17,411 13,522
Smurfit Kappa Group 725 14,650 2.64 29,544 24,897
T R Property
Investment
Trust		 4,717 11,254 2.94 23,302 19,458
Unilever 370 16,298 3.66 14,597 16,247
VT Gravis Funds 14,200 15,369 4.17 16,294 15,244
Vontobel Asset Management 50 5,044 3.30 5,268 5,329
265,262 327,709 318,039
OTHER - Held by brokers -3,053 5,051
Co-operative
Bank		 7,471 7,471
332,127 330,561
(Base value = cost or probate value) 265,262 261,561
In res ect of General
Fund
ORGAN FUND
QUOTED AT VALUATION
International
Public Partnership		 500 693 4.56 849 850
OTHER - Co-operative
Bank		 831 258
1,680 1,108
(Base value =cost or probate value) 693 693