FUNDS HELD IN CONNEcfioN WITH CHRIST CHURCH IN BATH
Charity No. 1055275
Trustee5' Report and Unaudited Accounts
31 December 2023

FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Contents
Pages
2to8
Trustees, Annual Report
Independent Examiner's Report
Statement of Financial Activities
io
Balance Sheet
li
Notes to the Accounts
12to19
Statement of Cash flows
20
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended
31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1055275
Principal Office
Christ Church
Julian Road
Bath
Somerset
BAI 2RH
Trustees
The following trustees who served during the year and up to the date of this report were as follows:
D. Bishop
Z. Bushell (Treasurer)
(Appointed 27 April 20231
T. Gleghorn lex officio, Rector of Walcotl
J. Hesketh
S. Sheppard
S. Tatton-Brown ISecrÈtaryl
O. Tegallv
C. Tilling
N. Wells (Chairl
H. Wild
(Resigned 7 March 2024)
A. Youings (ex officio, Archdeacon of Bath)
(Resigned 27 April 20231
Priest-in-charge
Revd Lore Chumbley luntil 18.02.20241
Accountants
The Waldron Partnership Ltd
30 Circus Mew5
Bath
BAI 2PW
OBJEcfivES AND AcfiviTIES
Christ Church is an independent proprietary chapel. The church is administered by the charitable Trust, the
objective of which is to provide a church or chapel in Bath to enable people to attend divine services in
accordance with the rites of the Church of England. For 225 years the Trust has worked to meet this objective
by employing its own clergy. ensuring that holy worship is conducted regularly, and maintaining the building
in good order. Today Christ Church is a liberal and inclusive church, seeking God through beauty in our
worship; honesty in our faith and doubt,. and service in our community.
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FUNDS HELD IN CONNEcfioN WITH CHRIST CHURCH IN BATH
Trustees Annval Report
De5Plte our nominal independence, we are close to and very much part of the Diocese of Bath and Wells in
the Church of England. To the congregation, Christ Church has the look and feel of any other Church of
England church. Christ Church remains active in supportinE both our Deanery and Diocese and considers it
important to do so.
Behind the scenes the Trustees, following the aims of the 1801 Trust deed, take on some of the
responsibilities more normally associaLed with the Diocese le.g. the Priest-in-charge is employed and paid by
the Trust), and of the churchwardens le.g. ensuring the property is well-maintainedl.
A regular cycle of public worship is maintained with the Eucharist celebrated on Thursdays and Sundays {and
occasionally on other Feast or Saints, Days). There are Evensong services on the third Sundays and
Contemplative lona services on the fourth Sundays of each month.
We strive to be an inclusive and welcoming community in word and deed to all of God's people, irrespective
of disability, age, Social status, ethnicity, denominational background, mental or physical health, gender,
identity, or sexuality. We especially seek to affirm and celebrate the gifts of those who have been
marginalised and wounded by the church.
Public Benefit- The Trustees exercise their duties as the owners and custodians of the buildings forming part
of the Christ Church Bath estate. The day-to-day responsibility for ordering the worship of Christ Church is
exercised by the Priest-in-charge with the Church Council, a group established for this purpose.
It is the view of the Trustees that the Charity complies with the guidance on public benefit as published by
the Charity Commission, by provid ing buildings and open spaces for religiou5 activities, facilities and services
for the general public/mankind, with a particular focus on the needs of our local community.
ACHIEVEMENTS AND PERFORMANCE
A full report of the activities in the last year is usually published each year iri readiness for the Annual Church
Meeting, usually held in May. In addition, the www.chri5tchurchbath.org wèbsite provides further
information, and services and other activities are promoted on our social media sites including Facebook and
YouTube.
225th Anniversary
During 2023 we celebrated the 225th anniversary of the consecration of Christ Church. We marked thi5 Wlth
a Festal Eucharist on 5th November, being the Sunday falling nearest to the consecration date of 7th
November. Bishop Ruth presided and preached at the service. with past clergy and congregation also
attending to share in the celebration.
Junior Church
With an ever-changing cohort of children in church, we continue to do our best to support them and provide
fun and inspiring learning opportunities about the Christian faith. We hope that we give them a chance to
explore their own faith, and doubt, in a way that is meaningful to them. Highlights for us from this year have
been our Nativity play, which wa5 well-received, a5 always; a wonderful Christmas service (with a real
donkeyl I, which was very well-attended. attracting lots of extra visitors- and apple picking day {even in the
rainll.
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Trustees Annual Report
Music
For first time since Covid the choir having had a full year of "normal" singing. The choir is in very good shape.
with new members joining, including new junior choir members, and with a high standard of singing being
mai ntained. There have been the usual highlights around Christmas and Easter, while another special
occasion to mention was the 225th anniversary service. Inspired by the words of the Te Deum, which 3re
written around the walls of Christ Church, the choir sang the "Collegium Regale" selling ol thal text by
Herbert Howells. This is a hard piece of music and it came off brilliantly.
Bell Ringing
We rang for every Sunday morning Eucharist in 2023,. on other occasions as required; and, of course, there
was the Coronation, with a record attendance that Saturday afternoon, including many new ringers in the
"Ring For The King" campaign. We rang two quarter peals and there was an attempt for a full peal, to
celebrate the 225th anniversary. On the actual day this was unsuccessful, to the regret of all, but the same
band succeeded on a second try in January 2024. The teaching programme continues, with the simulator in
constant use, especially for the "Open Se55ions" on Thursday evenings, for new ringers and improvers.
Pilgrim Group
The Pilgrim Group, now ten years old, continued to meet regularly in the Mews. Over the last year we have
been working on deepening our theological knowledge and faith, and widening our thinking. Out of Pilgrim
has emerged early morning Zoom devotions throughout Advent and Lent, and this year we had a Pilgrim
Agape service.
CedarTree Café
We have continued welcome everyone to the Cedar Tree Cafe on Fridays. Our regu13r customers loved the
chance to chat, share worries or celebrations and enjoy the relaxed atmosphere in the church.
Pastoral Care
We keep in touch with members of the church who no longer find it easy to attend in person or who worship
online. During the year we hosted several special afternoon services followed by pastoral tea parties, giving
people the chance to meet up with old friends and enjoy a chat over cream tea and homemade cakes.
Events and Concerts
We hosted a diverse range of events and concerts during 2023. The church has been busier than ever with
events including.. 11 Topping book talks,. 2 folk gigs,. Party in the City as part of Bath Festival. various choir and
orchestra concerts. a recital series with organ and chamber music. Amongst other things, the Lower Mews
was used as a film location base for a film crew who were filming a TV series in and around the Queensberry
Hotel. Along with the Bath Museum at Work we organised another Julian Road community event, which was
a great success and raised funds for BEMSCA.
We view the hire of the church and Mews for external events as an important part of our outreach in the
local community. We estimate that we welcome somewhere in the region of a thousand people into our
building in thi5 way every year, many of whom do not 'go to church, and some of whom are entering the
sacred space of a church for the first time.
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Trustee5 Annual Report
Property Maintenance
The Quinquennial inspection, commissioned every five years from the church's Architect, was undertaken in
2023. The church was found to be 'in good condition, notwithstanding some important repair work identified
principally to the roof, external masonry and gallery windows. Much of the urgent work on the roof and
m350nry commenced during 2023, with the remainder completed after the reporting period in the first half
of 2024. This is an example of unglamorous but Important work to keep the building safe and sound.
We have had tenancy changes in all three of our rental properties during the year. A replacement flat roof
has been put onto part of the Mews and the main roof has been patch-repaired following a series of
worrying water leaks. This may well need to be replaced within a couple of years and quotations have been
sought to give us an idea of the likely costs. Significant repairs were made to the kitchen floor in Cottage I,
which also necessltated fitting new kitchen units. Some other interior redecoration was also undertaken at
the same time while the cottage was vacant.
FINANCIAL REVIEW
Financial Position
At 31st December 2023 the charity had net assets of £2,109,22912022'. £2,039,725) and net current assets of
£174,80912022'. £101,604). This is all held in unrestricted general fund5. The charity has sufficient funds to
meet its liabilities as they fall due.
Review of Income and Expenditure
Income for the year ended 31st December 2023 was £238,451 and expenditure was £172,035, resulting in a
surplus of £66,416 before net gains11055es on investments. This compares to income of £131,838 and
expenditure of £116,730 in 2022, with a resultant surplus of £15,108. again before net gains / losses on
investments.
Income from donations and legacies increased Significantly to £144,73512022: £71,784). Within this total the
main increases were in legacy income, thanks to a generous legacy from the estate of a church member, and
donations, which included the results of the successful Time and Talents fundraising activities as well as some
other major donations. There wa5 a modest increase of 2Yo in planned giving to £54.48612022: £53,197).
Events and venue hire continued to generate a useful income stream, as well as bring new people into the
building. This income stood at £14.41612022- £5,909), which included ticket sales from the successful
Saltlines and Leveret gigs, as well as continued hires of the church by Toppings and other local group5.
Direct expenditure on charitable activitie5 increased by 24% to £67,926 {2022.. £54,644). There were several
contributing factors, including a voluntary increase in Diocesan contributions of £1,500, the appointment of
an organ scholar, and inflationary salary increases.
Support and governance costs, which within the accounts are apportioned between charitable activities and
raising funds, decreased slightly to £41,90312022: £46,228}. There were increases in some areas, such as
utility costs, but these were offset by decreases in other areas such as repairs and maintenance.
The investment propertie5 generated rental income of £68,586, an increase of 41% on the previous year
12022- £48,636). This is due to a combination of greater occupancy levels in 2023 and increases in rental
charges in line with market rates.
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Trustees Annual Report
The associated cost of managing the investment properties wa5 £48,28912022: £5,692), leading to a net
income of £20,29712022'. £42,994). The decrease in net income for 2023 relates to one-off legal and
professional costs incurred on setting up the lease for the new Upper Mews tenant and substantial repairs
being requi red to the roof and kitchen f loor of Cottage l.
Reserves Policy
The charity does not currently have a specific reserves policy, although target levels of cash and cash
equivalents 3re considered as part of the investment policy. Trustee5 recognise the need to hold reserves to
meet future major capital expenditure to maintain the fabric of the church building.
The investment policy sets a minimum cash holding in the current accounts of £25,000 to provide working
capital for day-to-day operations. On top of this working capital, it then sets a target of £130,000 in cash and
cash equivalent5 (money market funds. pooled equity or bond funds) as a reserve to fund major repairs and
maintenance, giving a total minimum of £155,000.
As at the reporting date, the cash at bank was £174,824 and listed investments were valued at £37,371,
making a total balance of £212,19512022: £103,479 cash. £34,282 listed inve5tments- £137,761 totall. The
balance exceeds the target of £155,000. The increase from the prior year was largely due to the generou5
legacy received.
The investment policy is currently under review by trustees and consideration will be given to defining
separate reserves and investment policies during 2024, to bring more clarity to the target levels of reserves
and their purpose.
Investment Review
The charity holds investment property and listed investments. The investment property consists of the two
Christ Church Cottages, the Upper Mew5 and the church car park. The investment properties are held to earn
rental income and for capital growth.
There is an investment policy covering holdings of tash and listed investments. Of the investable resources, a
maximum of 75% should be held in pooled funds and minimum of 25% in cash, money market or equivalent
instruments. All investments should be guided by the principles of the Church of England Ethical Investment
Advisory Group.
At the reporting date the listed investments value was £37,37112022: £34,282). Listed investments are held
in pooled funds offered by CCLA. During the year the investments increased in value by £3,08912022.. £4,410
decrease). This all relates to unrealised gains / Ilossesl due to change5 in the market value,. there were no
additions to or withdrawals from investments during the year. Income earned from dividends and interest
wa5 £3,89212022: £1,781).
PLANS FOR FUTURE PERIODS
The position of Priest-in-charge has become vacant since the end of the reporting period following the
resignation of the Revd Lore Chumbley, effective from February 2024. The immediate plan is to recruit a new
Priest-in-charge with the proces5 taking place during 2024.
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Trustees Annual Report
A questionnaire circulated to the congregation in early 2024 as part of the process around recruiting the new
Priest-in-charge asked 'What would you like to see developed?, A number of people responded to this by
saying we should keep doing what we do, as we are a distinctive Christian presence in Bath. Other themes
that featured related to numeric growth of the congregation, with many people mentioning attracting more
children, young people and student5 in particular. More outreach to our immediate neighbours on Julian
Road and to other marginalisgd communities Ibuilding on what has already been done) were both seen as
important. Less frequently mentioned, but still a clear theme was the need to maintain our existing
community, and the need to be realistic about the number of activities that can be 5UStained. Several people
mentioned that a lot of the church activity rests Wlth quite a 5m311 number of busy people. and they too need
nurturing.
These responses are not specific plans and are likely to need further thought, refinement and development
once we have a new Priest-in-charge in place.
Other important plans include tackling the next set of less urgent building m3intenance items set out in the
Quinquennial I nspection report, referred to above; reviewing our policies especially those relating to risk
management and managing our finances appropriately to ensure value for money and maintaining our
income at a time of economic difficulty for many.
STRucfuRE, GOVERNANCE AND MANAGEMENT
Funds Held in Connection with Christ Church in Bath is a charitable Trust, governed by a Trust Deed dated 6
May 1801.
The operation of the Deed is regulated by Standing Orders adopted by the trustees on 23 June 2020, drawn
up in the light of Charity Commission guidelines. Appointment to the position of trustee at Christ Church is
for a six-year term in accordance with the Policy for the Appointment of a New Trustee, with option to renew
Subject to the agreement of the other trustees. Trustees are responsible for appoi nting new trustees in event
of vacancies. The Standing Order5 also require that the trustees shall invite the Priest-in-charge and
churchwardens of Christ Church to attend meetings of the trustees. They may participate fully in the
trustees, meetings but without the power to vote.
There are ten trustees including two ex officio members: the Rector of Walcot {in whose parish Christ Church
sits geographically) and the Archdeacon of Bath.
Policies
The trustees have adopted the following policies..
For the Appointment of New Trustees
Conflict of Interest
Processing Personal Data
Safeguarding Policy
Safeguarding Procedures
Protection of Electronic and Written Data
Risk Policy and Register
Health & Safety
Investment Policy
Standing Orders.
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Trustees Annual Report
Trustees delegate responsibility for managing some aspects of the charivs operations to other groups and
staff.
Christ Church Council is a group elected by and from the congregation. It meets around 8 times a year to
manage the regular activities of the church community and to discuss wider tOPlCs about the future direction
and vision for the church. It is normally chaired by the Priest-in-charge, who together with two
churchwardens, two Deanery Synod representatives and the curate lif one is in postl are ex officio members.
Nine other members are elected by the Annual Church Meeting IACMI.
As far as is compatible with Christ Church's position as a proprietary chapel, the proceedings of Council and
the ACM are guided by the Church Representation Rules. All those who attend church services and meet the
qualifying criteria are encouraged to register on the Electoral Roll and thereby become eligible to attend and
vote at the ACM and be eligible to be elected to Council.
The Priest-in-charge is employed by the trustees and holds a key management position, with re5ponsibilitv
for worship, the spiritual life of the church, and pastoral matters. They are supported by the Ministry Group.
which consists of licenced clergy, clergy in the Christ Church congregation who have PTO, any licenced
Readers, the churchwardens, and a representative of Junior Church.
Statement of trustees. responsibilities in relation to the financial statement5
The charity trustees are responsible for preparing a trustees, annual report and financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generallv
Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial statements
comply with the Charities Act 2011, the applicable Charities IAccountS and Reports) Regulations, and the
provisions of the Trust deed. The Trustees are a150 responsible for safeguarding the assets of the charity and
hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
Z. Bushell
Trustee
25 July 2024
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FUNDS HELD IN CONNEcfioN WITH CHRIST CHURCH IN BATH
Independent Examiners Report
Independent Examiner's Report to the trustees of FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN
BATH
I report to the trustees on my examination of the financial statements of FUNDS HELD IN CONNECTION WITH
CHRIST CHURCH IN BATH for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance
with the requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the charitV'5 financial statements carried out under section 145 of
the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the
Charity Commi55ion under section 145{51(b} of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no materi31 matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect..
the accounting records were not kept in respect of the charity as required by section 130 of the Act,. or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and
content of financial statements set out in the Charities {Accounts and Reports) Regulations 2008 other
thar¢ any requirement that the financial statements 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.
Marco Andrew Martin FCCA
The Waldron Partnership Ltd
30 Circus Mews
Bath
BAI 2PW
25 July 2024
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Statement of Financial Activities
for the year ended 31 December 2023
Unrestricted
funds Total fund5 Total funds
2023
2023
2022
Notes
Income and endowments
from:
Donations and legacies
Charitable activities
Other trading 3Ctivities
Investments
144,735
6,822
14,416
72,478
144.735
6,822
14,416
72,478
71,784
3,728
5,909
50,417
Total
238,451
238,451
131,838
Expenditure on:
Raising funds
Charitable activities
Other
59,062
106,183
6,790
59,062
106,183
6,790
12,203
97,498
7,029
Total
172,035
172,035
116,730
Net gainslllosses) on
investments
3,088
3,088
14,4101
Net Income
io
69,504
69,504
10,698
Transfers between funds
Net income before other
gain51(losses)
69,504
69,504
10,698
Other gain5 and losses
Net movement in funds
69,504
69,504
10,698
Reconciliation of funds:
Total funds brought forward
2,039,725
2,039,725
2,029,027
Total funds carried forward
2,109.229
2,109,229
2.039,725
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Balance Sheet
at 31 December 2023
Charity No. 1055275
2023
2022
Fixed assets
Tangible a55ets
Investments
13
97,049
14 1,837,371
1,934,420
103,839
1,834,282
1,938,121
Current a55ets
Debtors
Cash at bank and in hand
15
3,790
174,824
178,614
13.805)
174,809
5,037
103,479
108,516
(6,912)
101,604
Creditors: Amount falling due within one year
16
Net current assets
Total asset5 less current liabilities
2,109,229
2,039,725
Net assets excluding pension a55et or liability
2,109,229
2.039,725
Total net asset5
2,109,229
2,039.725
The funds of the charity
Restricted funds
Unrestricted funds
General funds
17
17
2,109,229
2,039,725
2,109,229
2,039,725
Reserves
17
Total funds
2,109,229
2,039,725
Approved by the trustees on 25 July 2024
And signed on their behalf by:
Z. Bushell
Trustee
25 July 2024
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
for the year ended 31 December 2023
l Accounting policie5
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice:
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
Change in basi5 of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since
last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustee5 for particular purpose5.
These are unrestricted funds which include a revaluation reserve representing the
restatement of investment a55ets at their market values.
These are available for use subject to restrictions imposed by the donor or through
terms of an appeal.
Designated funds
Revaluation fu nds
Restricted funds
Income
Recognition of
income
Income is included in the Statement of Financial Attivities ISOFAI when the charity
becomes entitled to, and virtually certain to receive, the income and the amount of
the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is
expenditure
reported gr055 in the SOFA.
Donations and
legacies
Voluntary income received by way of grants, donations and gifts is included in the
the SOFA when receivable and only when the Charity has unconditional entitlement
to the income.
Tax reclaims on
Income from tax reclaims is included in the SOFA at the same time as the
donations and gifts giftldonation to which it relates.
Donated services
These are only included in income Iwith an equivalent amount in expenditure)
and facilities
where the benefit to the Charity is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gains1(105se5} on
This includes any gain or105s resulting from revaluing investments to market value
revaluation of fixed at the end of the year.
a55ets
Gains/llosses) on
investment assets
This includes any gain or loss on the sale of investments.
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
Expenditure
Recognition of
expenditure
Expenditure is recognised on an accrua15 basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the cost5 incurred by the Charity in the delivery of its activities and
charitable activities services in the furtherance of its objects, including the making of grants and
governance costs.
All grant expenditure is accounted for on an actual paid basis plus an accrual for
grants that have been approved by the trustees at the end of the year but not yet
paid.
These include those costs associated with meeting the constitutional and statutory
requirements of the Charity, including any audit/independent examination fees,
costs linked to the strategic management of the Charity, together with a share of
other administration costs.
These are support costs not allocated to a particular activity.
Grants payable
Support and
Governance costs
Other expenditure
Taxatton
The charity is exempt from tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life-
Fixed assets
Fixed assets - pipe organ
25% straight line
4Yo Straight line
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet
date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as
they arise.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equlvalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with bank5 and other
5hort-term highly liquid investments with original maturities of three months or less and bank overdrafts.
In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the trarisaction price. Other creditors and provisions are
recognised where the charity has a present obligation resulting from a past event that will probably
result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or esti mated reliably. Creditors and provisions are normally recognised at their settlement
amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and
expenditure at an estimate of the value to the charity.
2 Statement of Financial Artivities - prior year as restated
Unrestricted
funds Total funds
2022
Z022
Income and endowments from:
Donations a nd legacies
Charitable activities
Other trading activities
Investments
71,784
3,728
5.909
50,417
71,784
3,728
5,909
50,417
Total
131,838
131,838
Expenditure on:
Raising fund5
Charitable activities
12,203
97,498
7,029
12,203
97,498
7,029
Other
Total
116,730
116,730
Net Sosses on investments
{4,410}
10,698
14,4101
10,698
Net income
Net income before other
gainsl(1055es)
Other gains and105ses:
Net movement in funds
10,698
10,698
10.698
10,698
Reconciliation of funds:
Total funds brought forward
Total funds carried fonvard
2,029,027
2,029,027
2,039,725
2,039,725
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FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
3 Income from donations and legacies
Unrestricted
Total
Total
2023
2022
Legacies
Planned Giving
Donation5
76,218
54,486
14,031
76,218
54,486
14,031
6,002
53,197
4,006
8,579
Grants
144,735
144,735
71,784
4 Income from charitable activities
Unrestricted
Total
Total
2023
2022
Sales
1,735
4,997
90
1,735
4,997
90
1,200
2,528
Service fees
Other
6,822
6,822
3,728
5 Income from other trading activities
Unrestricted
Total
Total
2023
2022
Venue hire
4,689
9,727
14.416
4,689
9,727
14.416
5,530
379
Events
5,909
6 Income from investments
Unrestricted
Total
Total
2023
2022
Rental
68,586
3,892
72,478
68,586
3,892
72,478
48,636
1,781
50,417
Dividends and interest
Page 15

FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
7 Expenditure on raising funds
Unrestricted
Total
Total
2023
2022
Fundroising trading c05t5
Events
7,127
7,127
3,137
Investment management C05t5
Rental properties
Support and Governance
costs
48,289
48,289
5,692
Utilities
703
703
549
Repairs and maintenance
Administration
Professional fees
1,375
1,450
118
1,375
1,450
118
1,568
834
423
59,062
59,062
12,203
8 Expenditure on charltable activities
Unre5trlcted
Total
Total
2023
2022
Expenditure on charitt7ble
octivities
Wages and staff costs
Church groups and activities
Diocesan contribution
Support ond Governonce
Costs
40,018
11,393
16,515
40,018
11,393
16,515
33,066
6.578
15,000
Utilities
7,374
14,426
15,219
1,238
106,183
7,374
14,426
15,219
1,238
106,183
6,977
19,912
10,587
5,378
97,498
Repairs and maintenance
Administration
Professional fees
9 Other expenditure
Unrestrirted
Total
Total
2023
2022
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
6,790
6,790
7,029
6,790
6,790
7,029
Page 16

FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
10 Net income before transfers
2023
2022
This is stated after charging:
Depreciation of owned fixed assets
Independent Examiner's fee
6,790
1.356
7,029
1,860
11 Trustee remuneration and expense5
No trustees have been paid remuneration in the current or prior periods.
One or more of the trustees has been paid expenses in the current or prior periods.
2023
2022
Number
Number
Number of trustees paid expenses
The nature of the reimbursed expenses
Stationery and consumables
Total expenses reimbursed to trustees
32
12 Staff costs
2023
2022
Salaries and wages
34.826
34,826
30,106
30,106
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
2023
Number
2022
Number
Page 17

FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
13 Tangible fixed assets
Fixed assets
Total
Cost or revaluation
At l January 2023
At 31 December 2023
Depreciation and
impairment
At l January 2023
Depreciation charge for the
year
At 31 December 2023
199,004
199,004
199,004
199,004
95,165
95,165
6,790
6,790
101,955
101,955
Net book values
At 31 December 2023
At 310ecember 2022
97,049
103,839
97,049
103,839
14 Investments
Freehold
Other
Investment
nvestments
Property
Listed
Total
Cost or revaluation
At ljanuary 2023
At 31 December 2023
Provision5 and Impairrnent
At ljanuary 2023
Provided du ring the year
At 31 December 2023
Net book values
1,800,000
1,800,000
31,974
31,974
1,831,974
1,831,974
{2,3081
13,0891
15,3971
12,3081
13,0891
15,3971
At 31 December 2023
1,800,000
1,800,000
37,371
34,282
1,837,371
1,834,282
At 31 December 2022
The freehold investment property consist5 of accommodation and a car park. The property was revalued
as at 31 December 2020 by the Trustees on an open market value for existing use basis. The Trustees are
of the opinion that the market value has not changed as at 31 December 2023.
15 Debtors
2023
2022
Other debtors
3,790
3,790
5,037
5,037
Page 18

FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Notes to the Accounts
16 Creditors:
amounts falling due within one year
2023
2022
Trade creditors
Other taxes and social security
Accruals
(4081
1.441
2.772
3.805
6,912
6,912
17 Movement in funds
Incoming
resources
At31
December
(including
At l January
other
2023 Eainsllosses)
Resources
expended
2023
Restricted funds:
Unrestricted funds:
General funds
2,039,725
241,539
{172,0351 2.109,229
Total lunds
18 Analysis of net assets between fund5
2,039,725
241,539
1172,0351 2,109,229
Unrestricted
funds
Total
Fixed assets
Investments
97,049
1,837,371
174.809
2,109,229
97,049
1,837,371
174,809
2,109,229
Net current assets
19 Reconciliation ot net debt
At31
December
2023
At l January
2023
Cash flows
Cash and cash equivalents
103,479
103,479
71,345
71,345
174,824
174,824
Net debt
103,479
71,345
174,824
20 Related party disclosures
Nome of related party
Description of relotionship between the partie5
A Bishop
father /son
repairs on investment
properties £100
Description of transortion and general amounts involved
Page 19

FUNDS HELD IN CONNECTION WITH CHRIST CHURCH IN BATH
Statement of Cash flow5
for the year ended 31 December 2023
2023
2022
Cash flows from operating activities
Net income per Statement of Financial Activities
69,504
10,698
Adjustments for:
Depreciation of propÈrty. plant and equipment
Dividends, interest and rents from investments
Decrease/llncreasel in trade and other receivables
Decrease in trade and other payables
6,790
172,4781
1,247
13,1071
7,029
146,719)
12.6331
{1,3061
Net cash provided byl(used in) operating activities
1,956
132,9311
Cash flows from investing activities
Dividends, interest and rents from investments
72,478
46,719
Net cash from investing activities
72,478
46,719
Net cash from finan¢lng activities
Net increase in cash and cash equlvalents
74,434
13,788
Cash and cash equlvalents at the beginnlng of the year
103,479
85,281
Cash and cash equivalents at the end of the year
177,913
99,069
Components of cash and cash equivalents
Cash and bank balances
174,824
103,479
174,824
103,479
Page 20