**Charity Registration No. 1034774**
# **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
# **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mrs J Gooch Mr P Harris Mr K Henderson Mr N Morse Dr P Naden
(Appointed 2 March 2020) (Appointed 2 March 2020) (Appointed 2 March 2020)
**Charity number** 1034774
**Principal address** 36a St Giles Oxford OX1 3LD
## **Independent examiner**
Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Statement of trustees' responsibilities|3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 14|
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
The trustees present their report and financial statements for the year ended 31 December 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's deed of trust , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
## **Structure, governance and management**
The trustees who served during the year and up to the date of signature of the financial statements were: Mrs J Gooch
Mr P Harris Mr K Henderson (Appointed 2 March 2020) Mr N Morse (Appointed 2 March 2020) Dr P Naden (Appointed 2 March 2020) Ms S Lessiter (Retired 2 March 2020) Mrs J G Beesley (Retired 2 March 2020) Ms F Mutambara (Retired 2 March 2020)
The church is registered with the Charity Commissioners (No. 1034774) and constituted by Deed of Trust. Its affairs are run in accordance with its Bye-Laws, which in turn relate to provisions of the Manual of The Mother Church, The First Church of Christ, Scientist, in Boston MA, USA, covering branch church conduct and governance.
During the year under review, the holding Trustees were Dr Pamela Naden, Mr Michael Harding and Mrs Ruth Harris.
The general business and day to day management of the church property is conducted on behalf of the church members by an Executive Board (the Charity Trustees as defined by the Charity Commission) comprising five members, who elect a chairman from amongst their number. Board members, who must be members both of this branch church and of The Mother Church, are elected annually by the church members. No person may serve more than three consecutive years. Board members normally take up their duties on the first Monday in March.
## **Objectives and activities Objects**
The object of the charity is to promote the understanding and demonstration of truth as found in the bible and interpreted in the Christian Science text book.
The Charity has three (holding) Trustees, whose duty is to hold on trust the church property for the general purposes of the church, and specifically to permit it to be used:
1. for promoting the truths of the Bible as explained by Mary Baker Eddy, the Discoverer and Founder of Christian Science
2. for the purpose of holding all services and meetings authorised by the Manual of The Mother Church or by the Christian Science Board of Directors
3. for any other activity which advances the cause of Christian Science.
In setting the objectives the charity Trustees have read and paid due regard to the Charity Commission's general guidance on public benefit. The Trustees consider the availability of the charity's church and reading room in St Giles Oxford for prayer and public services to be the principal public benefit.
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## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Review Of The Year**
The objects of the Charity were fulfilled by the following activities:
1. A Sunday service was held on all but three Sundays of the year, with Sunday School being held on all but eight Sundays. Since 19 th March 2020, following government restrictions and guidelines, the church building has not been open for worship but Sunday services and Sunday School have been held on-line, with information regarding public access provided on our website.
2. A Wednesday evening (testimony) meeting was held on all but three Wednesdays in the year. Since 19 th March 2020, these have been on-line, with access information on our website.
3. A Thanksgiving service was held on-line on the fourth Wednesday in November.
4. One Christian Science lecture was sponsored by the church.
5. A Reading Room has been maintained by the church and, until 19 th March 2020, was open to the public three days per week. Following government restrictions and guidelines, this facility has not been open but the telephone answering machine and email contacts are available to the public. We have changed the contents of the showcase in the gate almost every week throughout the year to provide a helpful article from the Christian Science Monitor and extracts from our weekly Lesson-Sermon for passers-by to read. The display also contains our website address for contact details and on-line services.
## **Achievements and performance**
The financial results for the year are shown in the statement of financial activities on page 5.
## **Financial review**
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
The trustees' r eport was approved by the Board of Trustees.
## **Dr P Naden**
Trustee Dated: 2 July 2021
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## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these accounts, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP FRS 102 ;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Independent Examiner**
S Daniels has been appointed as independent examiner for the ensuing year.
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## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
I report to the trustees on my examination of the financial statements of First Church of Christ, Scientist, Oxford (the charity) for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under the 2011 Act, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters 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 charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 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 financial statements to be reached.
Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited Chartered Certified Accountants 264 Banbury Road Oxford OX2 7DY
Dated: 2 July 2021
- 4 -
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2020**|2019|
||**Notes**|
**£**|**£**|
|**Income and endowments from:**||||
|Activities for generating funds|**3**|187|856|
|Investment income|**4**|21,755|24,816|
|Voluntary income|**5**|11,758|9,785|
|**Total income**||33,700|35,457|
|**Expenditure on:**||||
|Costs of Generating Funds||||
|Costs of generating funds|**6**|834|1,304|
|Fundraising trading: costs of goods sold|**6**|2,720|2,960|
|||3,554|4,264|
|Charitable activities|**7**|39,510|32,057|
|**Total resources expended**||43,064|36,321|
|Net gains/(losses) on investments|**10**|14,432|100,672|
|**Net movement in funds**||5,068|99,808|
|Fund balances at 1 January 2020||1,614,379|1,514,572|
|**Fund balances at 31 December 2020**||1,619,447|1,614,380|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2020**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
Investments
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
Designated funds
**15**
General unrestricted funds|**2020**
**£**
**£**
890,958
615,690
1,506,648
2,574
111,425
113,999
(1,200)
112,799
1,619,447
1,577,727
41,720
1,619,447
1,619,447|**2019**
**£**
**£**
890,153
601,258
1,491,411
2,951
121,218
124,169
(1,200)
122,969
1,614,380
1,576,376
38,004
1,614,380
1,614,380|
|---|---|---|
The financial statements were approved by the Trustees on 2 July 2021
Dr P Naden **Trustee**
- 6 -
**FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **Charity information**
First Church of Christ, Scientist, Oxford is an unincorporated charity registered in England and Wales, and is constitued by Deed of Trust. The registered office is 36A St. Giles', Oxford, OX1 3LD.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised on a receivable basis.
## **1.5 Expenditure**
Expenditure is recognised in the year in which it is incurred.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
All fixed assets are initially recorded at cost.
Freehold property not provided Capital improvements not provided Fixtures, fittings & equipment 15% reducing balance
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
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## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 F und accounting**
The Capital and Maintenance Designated Fund is an unrestricted fund earmarked by the trustees.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Activities for generating funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Reading room sales|187|856|
|**Investment income**|||
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Income from listed investments|21,529|24,087|
|Interest receivable|226|729|
||21,755|24,816|
## **4 Investment income**
- 8 -
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **5 Voluntary income**
|Collections for special purpose
Collections including gift aided
Gift aid tax refundable
Sundry donations|**2020**
**£**
83
4,952
1,723
5,000
11,758|**2019**
**£**
206
6,713
1,794
1,072
9,785|
|---|---|---|
## **6 Costs of Generating Funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Costs of generating funds|||
|Advertising|834|1,304|
|Fundraising trading: costs of goods sold|||
|Reading room|2,720|2,960|
||3,554|4,264|
- 9 -
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **7 Charitable activities**
|**Unrestricted**
**funds**
**Designated**
**Funds**
**2020**
**2020**
**£**
**£**
Depreciation and
impairment
237
-
Building maintenance and
running costs
11,067
17,081
Lectures and publications
2,419
-
Honoraria, fees and
reimbursed direct
expenses
2,213
-
Donations
2,500
-
Gift subscriptions for
periodicals
689
-
Sundry
1,640
-
Other
440
-
Examiners remuneration
1,224
-
22,429
17,081
22,429
17,081|**Total**
**2020**
**Unrestricted**
**funds**
**Designated**
**Funds**
**2019**
**2019**
**£**
**£**
**£**
237
118
-
28,148
13,745
4,560
2,419
1,725
-
2,213
6,105
-
2,500
2,900
-
689
541
-
1,640
460
-
440
709
-
1,224
1,194
-
39,510
27,497
4,560
39,510
27,497
4,560|**Total**
**2019**
**£**
118
18,305
1,725
6,105
2,900
541
460
709
1,194
32,057
32,057|
|---|---|---|
## **8 Trustees**
Trustees received £1,946 (2019: £606) for provision of services to the charity, unrelated to their role as trustees. There were no reimbursed expense to trustees related to their role as trustees.
## **9 Employees**
The average monthly number of employees during the year was:
**2020 2019 Number Number** Total - -
## **10 Net gains/(losses) on investments**
**Unrestricted** Unrestricted **funds** funds **2020** 2019 **£** £ 14,432 100,672
Revaluation of investments
- 10 -
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **11 Tangible fixed assets**
|**Cost**
At 1 January 2020
Additions
At 31 December 2020
**Depreciation and impairment**
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
**Carrying amount**
At 31 December 2020
At 31 December 2019
**12**
**Fixed asset investments**|**Freehold**
**property**
**Capital**
**improvements**
**Fixtures,**
**fittings &**
**equipment**
**£**
**£**
**£**
361,000
528,487
1,837
-
-
1,042
361,000
528,487
2,879
-
-
1,171
-
-
237
-
-
1,408
361,000
528,487
1,471
361,000
528,487
666|**Total**
**£**
891,324
1,042
892,366
1,171
237
1,408
890,958
890,153|
|---|---|---|
||**L isted**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 January 2020|601,258|
|Valuation changes|14,432|
|At 31 December 2020|615,690|
|**Carrying amount**||
|At 31 December 2020|615,690|
|At 31 December 2019|601,258|
|**13**
**Debtors**
**Amounts falling due within one year:**
Gift aid tax
Prepayments and accrued income|**2020**
**£**
1,092
1,482
2,574|**2019**
**£**
1,150
1,801
2,951|
|---|---|---|
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## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **14 Creditors: amounts falling due within one year**
||**2020**|**2019**|
|---|---|---|
||**£**|**£**|
|Accruals|1,200|1,200|
- 12 -
## **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **15 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**1 January 2019**
**£**
Capital and Maintenance Designated Fund
1,477,264
1,477,264|**Movement in funds**
**Incoming**
**Resources**
**Outgoing**
**Resources**
**Revaluations,**
**gains and**
**losses**
**Balance at**
**1 January 2020**
**£**
**£**
**£**
**£**
3,000
(4,560)
100,672
1,576,376
3,000
(4,560)
100,672
1,576,376|**Movement in funds**
**Incoming**
**Resources**
**Outgoing**
**Resources**
**Revaluations,**
**gains and**
**losses**
**Balance at**
**31 December**
**2020**
**£**
**£**
**£**
**£**
4,000
(17,081)
14,432
1,577,727
4,000
(17,081)
14,432
1,577,727|
|---|---|---|
## **Capital and Maintenance Designated Fund**
This fund represents amounts set aside by the trustees to finance both capital improvements to the land and buildings as well as the cost of general repairs and maintenance.
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# **FIRST CHURCH OF CHRIST, SCIENTIST, OXFORD**
# **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **16 Related party transactions**
There were no disclosable related party transactions during the year (2019 - none).
- 14 -