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2021-07-31-accounts

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

REGISTERED COMPANY NUMBER: 05546205 (ENGLAND AND WALES) REGISTERED CHARITY NUMBER: 1111950

REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

CHRIST CHURCH LONDON

CONTENTS

Page
GENERAL INFORMATION 3
SENIOR LEADER’S OVERVIEW 4
REPORT OF THE TRUSTEES 5
REPORT OF THE INDEPENDENT AUDITORS 20
STATEMENT OF FINANCIAL ACTIVITIES 23
BALANCE SHEET 24
CASH FLOW STATEMENT 25
NOTES TO THE FINANCIAL STATEMENTS 26
APPENDIX 1 33

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

GENERAL INFORMATION

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of 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 2015).

STRUCTURE, GOVERNANCE, AND MANAGEMENT

GOVERNING DOCUMENT

The charity is controlled by its governing document; the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REGISTERED COMPANY NUMBER 05546205 (England and Wales)
REGISTERED CHARITY NUMBER 1111950
REGISTERED OFFICE The Matrix Complex
91 Peterborough Road
London
SW6 3BU
TRUSTEES David Akinluyi (appointed March 2021)
Chee Yeen Fung (appointed March 2021)
Rosanna Gibbs
Mark Goodchild
Samuel Kay
Smart Kemiki
Emily Ribeiro
Nathan Sence
David Stroud
Michael Thomas
COMPANY SECRETARY Claire Odunlami FCCA
AUDITORS Brindley Millen Ltd
Chartered Accountants and Statutory Auditors
167 Turners Hill
Cheshunt
Hertfordshire
EN8 9BH
BANK HSBC Bank PLC
281 Chiswick High Rd
Chiswick
London
W4 4HJ
LEADERSHIP TEAM David Stroud
Andrew Tilsley
Lars Due Christensen
Tim Frisby
Nate Sence
Liam Thatcher
Joel Wade
Jo Wells
WEBSITE www.christchurchlondon.org

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

SENIOR LEADER’S OVERVIEW

It is a joy to report that Christ Church London has known God’s blessing in many ways over the last year, as we have been able to reach and be a blessing to many, both within and beyond the church, despite the considerable challenges during this time.

In August 2020, due to government lockdown restrictions, we continued to deliver our Sunday services online with Church at Home when we were unable to meet in-person. Church at Home received very positive feedback and helped strengthen many through a particularly difficult season. After restrictions were lifted, we transitioned back to in-person services, but continued Church at Home for those unable or uncomfortable to attend church in-person.

During this last year we have been able to serve the church and the broader community by livestreaming pastoral seminars and interviews with expert practitioners, addressing issues of emotional and relational health. As you will see later in the report, the STEPS course has continued online and has seen significant growth both in the UK and across the world, with attendance increasing almost threefold. Vauxhall Foodbank was awarded a grant from the Love Your Neighbour initiative, which funded the resources needed to reach more people in the Lambeth community.

We are also very thankful for the annual Gift Day which raised £220,000 including Gift Aid and pledges, surpassing our target of £150,000. We have been overwhelmed with God’s goodness and people’s generosity. The money raised from this Gift Day has been allocated to the Property Fund, the Vauxhall Foodbank, and STEPS.

In November 2020, the Everything Conference was held online with keynote speaker Andy Crouch. The theme was ‘God’s strength working through our weakness’, and received positive feedback from people across the UK and internationally.

In July 2021, we secured a 5-year lease on a property on Coborn Street in Mile End. Many members of the church, especially those living in East London, gave their skills and resources to help refurbish the building, making it ready as the new home for the Mile End service. We are excited about the potential of this building to enable us to better serve the people of East London.

I would like to express my heartfelt gratitude for the incredible generosity of the staff, volunteers, and trustees of Christ Church London, who have contributed their time and resources to the life of the church over the past year, especially through their flexibility and readiness to adapt to the changing environment. They have been magnificent.

I look forward to the year ahead with great anticipation and am grateful for the privilege we have in joining God in all that He is doing in this city.

David Stroud

November 2021

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

REPORT OF THE TRUSTEES

I. PRINCIPAL ACTIVITIES AND STRATEGY

The main objectives of Christ Church London are to advance the Christian faith and to provide assistance for persons in conditions of need, hardship, or distress.

As an outworking of these objectives, Christ Church London seeks to be a community in London that serves the capital and beyond. As a church we want to Engage with people's questions and create an environment where anyone can explore matters of faith. We believe that God is interested in Everything , so we want to help everyone discover how they can use their unique skills and passions to contribute to the strengthening of society, build community, and serve those who are in need. We want to be a church that is Empowered by the Holy Spirit to live effective lives and sense God’s direction in all we do.

The church’s strategy for accomplishing these goals, and fulfilling its charitable objectives, focuses on the activities undertaken through its various ministry areas, taking into account the following guiding principles:

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

II. GOVERNANCE, TRUSTEES, AND STAFF

II. GOVERNANCE,TRUSTEES,AND STAFF II. GOVERNANCE,TRUSTEES,AND STAFF
The current trustees set out below held office during the year ended 31 July 2021:
David Akinluyi
(Appointed 08 March 2021)		 David is group COO of his own company, covering business, technology, and
financial service engagements.
Chee Yeen Fung
(Appointed 08 March 2021)		 Chee Yeen is a North London GP with educational and advisory roles at
Imperial College School of Medicine, Health Education England, the General
Medical Council,and the Medical Schools Council.
Rosanna Gibbs Rosie is a barrister in Chambers in London.
Mark Goodchild Mark is a management consultant who works with purpose-driven businesses
andpublic sector organisations.
Samuel Kay Sam is a partner with a London law firm,where he works in the financial services
sector advisinginvestment funds and asset managers.
Smart Kemiki Smart is the Managing Director of a real estate company that facilitates
buying, selling, portfolio development, land acquisition and property
management. He is also activelyinvolved with other charities.
Emily Ribeiro Emily is a civil servant at the Foreign, Commonwealth and Development
Office. Her roles have included policy advice and programme management in
the Middle East, South Asia, and Africa. She was awarded an MBE for public
service in 2011.
Nathan Sence Nate is the Head of Operations at Christ Church London and assists David in
reporting to the trustees in an executive capacity.
David Stroud David is the Senior Leader of Christ Church London. He has been involved in
leading churches for over 30 years, and Christ Church London is his third church
plant.
Michael Thomas Mike is a management consultant who specialises in turning businesses
around and managing major projects. He has worked in a diverse range of
industries for over 40years and is activelyinvolved with other charities.

The trustees are also the members of the company. The power of appointment or removal of trustees rests with the trustees. New trustees are selected from the church community. They are well known to the existing Board of Trustees and have demonstrated a high level of dedication and commitment towards the aims of the church. After their appointment, new trustees receive an induction pack, and spend time with the existing trustees to ensure they fully understand their responsibilities and the legal and financial framework in which the church operates. They are provided with additional training as required.

The trustees, who meet at least four times a year, retain responsibility for the overall strategic decisions of the charitable company, as well as the setting and monitoring of budgets. The Leadership Team, the staff, and volunteers overseeing different areas of the church make day-to-day decisions on expenditure and activities.

Christ Church London was previously led by a Senior Leadership Team, who held responsibility for the overall spiritual leadership for the wider church, maintaining the historic orthodox understanding of the Christian faith, pastoral care of the church, and setting out the vision and mission.

David Stroud and Andy Tilsley are joined by Lars Due Christensen, Nate Sence, and Joel Wade to form the Strategic Team. This team takes an overall strategic view of the direction of the church, its broad initiatives, and safeguards the church’s core values of Everything , Engaged , and Empowered across the various ministries, services, and operations of the church to ensure we are working toward the cultural, social, and spiritual renewal of the city.

Each service is led by a Service Leader and a local Service Team. During this year, the Service Leaders and other key ministry leaders on the staff team (Tim Frisby, Liam Thatcher, and Jo Wells) joined the members of the Strategic Team to form the Leadership Team of Christ Church London. This group led the church through the various stages of lockdown, as well as led the day-to-day running of the church in its various settings.

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

Members of the above teams are:

David Stroud As well as leading the Leadership Team, David oversees the development of the overall
vision and strategy of the church. David leads the Central service and supports Andy in his
Service Leadership. He also hosts the Everything Conference and associated events
throughout theyear.
Andrew Tilsley Andy is responsible for leading the Sutton service, Connect Groups, and Alpha, as well as
preaching at all services and occasionally at other churches. Andy also supports Joel Wade
in his Service Leadership.
Lars Due Christensen Lars is part of the Central Service team, and oversees several ministry activities including
Children, Worship, Social Action, and Pastoral Support. Lars supports Tim in his Service
Leadership. He also leads the STEPS course, aimed at helping people to overcome
controllingbehaviourpatterns.
Tim Frisby Tim is the service leader in Stockwell, with his wife Jacqui. He is also responsible for Social
Action and oversees the Vauxhall Foodbank.
Nathan Sence As Head of Operations, Nate is responsible for overseeing the day-to-day operational
activities of the services,logistics,and the office and administration.
Liam Thatcher Liam was the teaching pastor and was responsible for coordinating all the preaching and
prayer across the church. He also coached younger preachers and led the Marriage ministry
with his wife,Helen. Liam left Christ Church London on 31 July2021.
Joel Wade Joel leads both congregations in Bethnal Green (now Mile End). He is also responsible for
overseeingthe Communications Team.
Joanne Wells Jo is part of the Central Service team. She coordinates Welcome Teams, the Women’s
ministry,and other events,and oversees integration for Church at Home.

The Leadership Team model was replaced in July 2021 with a new operating model of Services, Working Groups, and Departments, to ensure clear communication across the staff team and efficient decision making. It will also enable autonomy and instil trust in individuals and will play more naturally to the strengths of our team members.

The Working Groups are the Courses, Discipleship, Leadership Development, Creative Projects, and Calendar Groups, which are made up of a combination of the Christ Church London staff and key volunteers.

The Departments are the Finance, Communications and IT, Worship, Families and Youth, Students, Pastoral Support, Social Action, and Operations Departments, which are led by members of staff with expertise and broad experience in their respective fields of work.

INTERNAL CONTROLS AND RISK MANAGEMENT

The trustees have overall responsibility for the Christ Church London system of internal controls. Such a system can provide only reasonable, but not absolute, assurance against errors or frauds.

Christ Church London operates a planning and budgeting system with an annual budget approved by the trustees. Significant changes are subject to specific approval. A finance reporting system compares results with the budget on a monthly basis.

The trustees are satisfied that systems are in place to monitor, manage, and mitigate Christ Church London’s exposure to major risks. They consider that maintaining Christ Church London reserves at the policy levels and reviewing internal controls and risks will provide Christ Church London with adequate risk assurance and sufficient resources in the event of adverse conditions. They also recognise that the nature of some of Christ Church London’s work requires active acceptance and management of some risks when undertaking activities to achieve the objectives of the charitable company.

All areas of church life have been subject to a risk review using our risk management software system, and the trustees have reviewed the most significant risks, including specific COVID-19 risks. Monitoring of these risks takes place throughout the year.

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 All major insurable risks are subject to normal churches’ and employers’ insurance. Contractual risks are reviewed before entering, to assess that they could not significantly impact the church’s ability to fulfil its objectives.

KEY MANAGEMENT REMUNERATION

Salaries and remuneration for key management personnel are set by the Trustees following consultation and guidance from the Salaries Review group, which is comprised of the Senior Leader (who is also a trustee) and three non-staff trustees with experience in charity, government, and commercial industries. The Senior Leader is not involved in reviewing or setting their own salary.

EMPLOYEES AND VOLUNTEERS

The work of Christ Church London relies on the commitment and hard work of its employed staff, as well as its volunteers. Christ Church London seeks to be a workplace that represents the diversity we see in the city. Our recruitment and development policies reflect our Christian values and adhere to UK legislation.

At year end, the church employed 13 full-time (2020: 11) and 10 part-time staff (2020: 5). Our staff team supports the vision of Christ Church London, alongside the extensive input and time of the church community who serve and give faithfully.

Christ Church London has ongoing relationships with a number of respected Christian leaders, who form a Council of Reference. The Leadership Team and the Trustees remain responsible for the leadership and governance of the church. Further details are provided in Appendix 1 on page 33.

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

III. REVIEW OF THE YEAR’S ACTIVITIES

SUNDAY SERVICES AND PREACHING

Our Sunday services have continued to provide a context in which people can grow in their faith. We aim to present a rounded Bible teaching programme, as well as meet the needs and challenges of this unique moment. We continued to provide Church at Home when we were unable to meet in-person and to supplement our live services. A pre-recorded sermon from Church at Home was used at in-person services when the preacher was unable to attend in person.

Over the year, we ran sermon series on Living by Faith , exploring biblical examples of living faithfully; Kingdom Come , looking at Jesus’ vision of the Kingdom and how it meets our deepest needs; Spirit Filled Life , learning to continue God’s Work in the face of contemporary challenges; and Living Sacrifice , looking at Romans 12 and how to build genuine community.

As well as our staff preaching team, three volunteers preached twice at Church at Home . Rachel Gardner and Tope Koleoso were invited as guest speakers, and 16 local volunteers preached across the church at our inperson services (2020: 20).

In addition to live carol services, we also created a film called Emmanuel . The film included spoken word, carols, and readings, and showcased the talent at Christ Church London. Over 3,200 people have viewed the film on YouTube, and over 2,400 on Facebook. The Good Friday service was also specially produced and shared online and received approximately 800 views.

Average in-person weekly attendance across the whole church was 318 (2020: 532). Varying degrees of government restrictions and venue capacities limited the in-person services we were able to offer, so the attendance is not as measurable as previous years.

BETHNAL GREEN

To help keep the service connected and focused on our mission, once a month we hosted ‘Kingdom Come in East London’, where Connect Groups would gather online to worship, pray, and hear teaching and vision for the community in East London.

Once meeting in-person became possible, the need for community events became more apparent. A running club and games at the park became regular features, and the men’s and women’s breakfasts restarted. These activities were initiated by volunteers.

A core group has been developed at the morning service and continues to grow. Volunteers have shown growth as leaders, helped by more opportunities to lead, preach, and self-initiate.

In July, we secured a 5-year lease on 1-3 Coborn Street in Mile End. Bethnal Green services were postponed throughout July, and DIY Sundays were held, where volunteers were invited to decorate and prepare the space for in-person services. Over 60 different people volunteered throughout the month. In-person services resumed in August 2021, and the service was renamed Mile End to better reflect the building’s location.

Average weekly attendance at the morning service was 27 (2020: 39).

Average weekly attendance at the evening service was 33 (2020: 85).

CENTRAL AND COVENT GARDEN

From August 2020 to July 2021, the Central and Covent Garden services gathered in-person at the LSE’s Peacock Theatre or online for Church at Home during lockdown. The wider leadership teams of both services met online monthly, and in early summer 2021, agreed for the two services to officially merge to form one new service. There has been an emphasis on re-gathering and strengthening the service as there have been many changes for people who have historically been part of the Central and Covent Garden services.

Connect Groups met mostly online, with some meeting in-person during the summer of 2021 as restrictions began to lift.

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Average weekly attendance was 87 (Central 2020: 158; Covent Garden 2020: 45).

STOCKWELL

During lockdown, members of the Stockwell service were encouraged to engage with the Sunday services held online. Each week, a host introduced the different elements of Church at Home, before leading into praying for one another or catching-up in breakout rooms. We maintained this online practice for a time once we returned to in-person services. Going forward, we will continue the hybrid model for Sunday church services.

Our connect groups continued to meet online throughout the year, and most have returned to either meeting in-person or with a hybrid model over the summer.

The Stockwell service has shown good engagement with STEPS and the Pastoral Support seminars, which have helped with the challenges of the year.

Average weekly attendance was 90 (2020: 132).

SUTTON

With the move to The Cryer Arts Theatre, the Sutton service has grown significantly over the last year. We are in touch with over 140 people, and Sunday attendance has increased as a result. We have approximately 70 children, as well as some teenagers who attend with their families. We have begun exploring starting youth work. The Sutton Connect Groups have increased from two to four, reflecting the growth in the Sutton community.

A number of Hong Kong families have also joined the service, as a result of the Hong Kong BN(O) welcome programme.

Average weekly attendance was 81 (2020: 73).

CHURCH AT HOME

Church at Home continued throughout the year for periods of lockdown and for those unable to or uncomfortable attending in-person services. Church at Home services are pre-recorded and include a sermon, worship songs, and relevant notices. The sermons and worship songs are made available to watch online after the Sunday has passed.

The average weekly attendance was 348 (2020: 750).

Average attendance online is based on a multiplying factor of 1.3 viewers per screen. We consider this to be a conservative multiplying factor as streaming platforms use 1.5 and churches in the USA range from 1.8-2.4, including children.

SUNDAY TEAMS

WORSHIP

At the end of July 2021, the worship team had approximately 69 volunteers (2020: 68). We had a similar number of volunteers joining the team (with particular growth from the Sutton service) as we had stepping down, so the team numbers have remained steady. When possible, worship with a live band has continued at in-person services within government guidelines.

Worship songs for Church at Home were filmed and recorded at the Swiss Church in London during the autumn and spring terms, and we now have a bank of over 50 songs available on YouTube for both church and public use. In October 2020, the single Emmanuel was released for the Christmas film of the same name. We have continued to encourage song-writing across the team and are envisioning how to further grow in this area.

CHILDREN AND YOUTH

At the Central, Stockwell, and Sutton services we run crèche, kids, and youth activities; and crèche at the Bethnal Green morning service. Approximately 40 regular volunteers serve alongside parents (2020: 45).

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Between November 2020 and May 2021 online Zoom calls for kids work were held on Sunday mornings for the Central, Stockwell and Sutton services. Average online attendance was around 37 each week. Once in-person services reopened, kids work resumed at the above services, and the Zoom calls concluded. Average weekly inperson attendance was 55 each week (2020: 82).

We also ran a term-time weekly multi-service Youth Group with an average attendance of 11 each week.

PRAYER

Throughout the year we held monthly online prayer meetings, where the whole church was invited to gather online to pray for our community, our city, and our world. Average online attendance at the prayer meetings was 116 and they provided an opportunity for the church to connect over the lockdown period.

Local service prayer teams have also continued to provide one-on-one prayer via Zoom, and local prayer meetings and events.

In May, we held a week of prayer to join the Thy Kingdom Come initiative, which included a church-wide prayer meeting and daily prayer resources.

A new prayer resource page was launched on our website, with links to prayers and liturgies, to help people with prayer in everyday life.

HOSPITALITY AND TECH

The hospitality and tech teams provide all the technical production and refreshments for each service. Activities were paused when in-person services were closed. Once open, only the tech team resumed with eight volunteers across four services (2020: 77 combined Hospitality and Tech).

CONNECT GROUPS, ALPHA AND COURSES

CONNECT GROUPS

We have 34 Connect Groups active across the church (2020: 38). Some are missional communities: focusing on our relationship with God, each other, and those who do not yet know Christ, and with a discipleship focus. Some are focused on running courses, studying the Bible, playing sports or hobbies, or serving in the local community.

Many Connect Groups have been meeting online, however some began to meet in-person as COVID-19 restrictions eased and people became more comfortable gathering together again.

ALPHA

Over the last year, we have run nine online Alpha Courses (2020: 5). Approximately 70 people participated (2020: 90) and approximately 20 volunteers (2020: 36) helped run the courses.

STEPS

Due to COVID-19, all STEPS activities were moved online. 404 people participated in a STEPS course (2020: 141), of whom approximately 40 were church leaders (2020: 8). 14 churches ran STEPS in tandem with Christ Church London (2020: 5).

The online format proved to be much more accessible and efficient, allowing us to run dedicated STEPS courses in the USA and Canada. Furthermore, feedback remains similar to that from in-person courses. We continue to receive enquiries from churches and organisations from other countries regarding running STEPS.

The STEPS website has been redesigned to include a membership section that provides information on running a STEPS course, both in-person and online. STEPS is also now available on RightNow Media.

PASTORAL COURSES

This year, the pastoral team was run entirely by volunteers based in each of the services offering one-to-one support mainly via Zoom. We have four pastoral team leaders overseeing the teams.

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Monthly emotional health seminars were held online, with topics including managing stress, finding joy, and relationship breakdown. On average, 50 viewers joined the livestream on the evenings, and the recordings have amassed a collective total of over 1,800 views on YouTube.

Following on from these seminars, several four-week long pastoral groups were held over the year to support individuals facing issues such as managing grief, relationship breakdown, anxiety, becoming a new mother, and low mood in men – 41 people attended these groups.

The Living Life with Purpose course ran with 8 participants (2020: 15).

The Pastoral Team has been working with the Communications Team to create social media content designed to increase awareness for mental health and well-being.

EVERYTHING EVENTS

The 2020 Everything Conference was held in November as an online-only livestream event, in partnership with World Vision UK, our global development partner for Everything. 292 tickets were sold (2019: 270) across the UK and internationally. Andy Crouch joined the conference virtually from the US, with contributions from Guvna B, Paul Cowley, Jake Isaac, Rachelle Ann Go, and Sir Paul Marshall.

In January 2021, in partnership with World Vision, we hosted an online presentation on The Connected Generation Report, published by Barna Group. 110 participants joined, representing various sectors and church networks. This report was the largest-ever study examining the unique challenges and opportunities facing 18to 35-year-olds.

The Everything Roundtable was renamed the Movement Leaders Everything Roundtable , and gathered twice online over the year. At the November 2020 roundtable, Andy Crouch spoke on the role of church networks in both national and international cultural renewal. At the May 2021 roundtable, David Stroud shared reflections on the historic roots of evangelical cultural renewal in the UK, and contributions were made by other members of the group including, Joy Blundell (Alive Church, Lincoln) and Ioannis Dekas (Doxa Deo Community Church, London).

As part of our ongoing investment in Everything, we employed Erin Bradbury as Director of the Everything Network to expand this ministry area. She initially worked with us on a consultancy basis before joining the staff team full-time in August 2021.

The Everything Course on RightNow Media has been accessed by over 2,700 people.

CHURCH SUMMER RETREAT

The annual church retreat was cancelled for this year; however, planning for the August 2021 Church Summer Retreat at Ashburnham Place began in January 2021.

SOCIAL ACTION AND MISSION

Christ Church London donates to, and supports, several charities in London and other nations, to help alleviate poverty, illness and hardship. In light of the COVID-19 pandemic, we opened a Relief Fund to help encourage our church community to give towards poverty relief.

We also partnered with Love Your Neighbour (LYN), a national, inter-church initiative started by HTB and the Church Renewal Trust which secured a significant government grant for the specific work of food distribution, debt advice and employment support across the LYN network; the first government grant of its size given to churches in the UK. With a grant of £61,000 we were able to increase investment in the Vauxhall Foodbank and financially support the work of the Beacon CAP Partnership in South London.

COMPASSION UK

We financially support two Child Survival Programs (CSP) in Rwanda, which seek to end child poverty by providing holistic care to mothers and their children from pregnancy until the child is old enough to enter the

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 sponsorship program. These programs joined Compassion Rwanda’s response to COVID-19 and have helped distribute 8,000 food parcels and 414,000 hygiene kits to Compassion-supported families across Rwanda.

In addition to supporting the CSPs, Christ Church London is a Compassion Sponsorship Church and currently 74 children (2020: 82) in Rwanda are sponsored by individuals and families in the church.

INTERNATIONAL JUSTICE MISSION (IJM)

We have continued our partnership with IJM, contributing £10,000 (2020: £10,000) to their Field Office in the Dominican Republic, which is working to bring an end to commercial sexual exploitation of teenagers and children, through active rescues and advocacy work. This year the Dominican Republic Field Office represented six young women in court whom they had previously helped rescue from sex trafficking.

FOODBANK

In the year, Vauxhall Foodbank stocks were transferred to the South London Foodbank warehouse, from where all Lambeth Foodbank deliveries are now fulfilled. Vauxhall Foodbank continues to operate as a member of the Lambeth Foodbank Collaboration.

In 2020, Vauxhall Foodbank was awarded a £61,000 Love Your Neighbour grant, which afforded two additional vans and van drivers enabling deliveries to be made five days a week. The delivery service has enabled food access to those unable to leave their house due to COVID-19 or who would not have accessed the Foodbank because of social stigma or shame. Together with the other Lambeth Foodbanks, it has been determined that they will continue operating in a hybrid model going forward.

Throughout the year, Lambeth Foodbanks collectively fed 30,727 people across Lambeth, of whom it is estimated that 12.5% (2020: 12.5%) of clients were linked to Vauxhall Foodbank, resulting in provision to approximately 3,840 people (2020: 3,310). Over 1,000 Christmas parcels containing gifts and festive food were delivered to those in need over the Christmas period.

£68,000 was raised for Vauxhall Foodbank through the crowd-funding campaign, and community and corporate donations. We are delighted that Foodbank has been able to fully cover its costs through external fundraising.

REFUGEE EDUCATION UK (RE UK), FORMERLY REFUGEE SUPPORT NETWORK (RSN)

This year RSN was renamed Refugee Education UK (RE UK) to better reflect the educational support they provide to unaccompanied teenagers. Christ Church London has continued its support of RE UK by contributing £12,000 (2020: £12,000) to this work.

Alongside its mentoring program, RE UK has continued its advocacy work, most recently joining Together with Refugees, a coalition of organisations concerned about the proposed changes to the asylum system.

GROWTH

Due to COVID-19 restrictions, GrowTH changed its model of care and was unable to provide night shelter over the winter. We have kept in touch with the GrowTH team over the year and are looking forward to continuing our partnership with them as it reopens its shelters this winter.

OTHER GIVING

Christ Church London contributed £5,000 to Tearfund's disaster relief work around the world (2020: £5,000).

The Christmas offering this year raised a record £12,294 (2020: £3,000), which was split evenly between two London based charities: Big Kid Foundation, which works with disadvantaged and at-risk young people in south London, and the London Cares family that work with the elderly in north, south and east London.

The Relief Fund set up to support those affected by the COVID-19 pandemic allowed us to gift laptop computers to the Globe Primary School, where our Bethnal Green morning service met, to aid home learning during lockdown; contribute to the Swiss Church’s work with homelessness in Covent Garden; and award hardship grants to two members of Christ Church London.

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

COMMUNICATIONS

Over the past year, we continued to produce Church at Home , and have increasingly used video features to share news and testimonies across our different services.

We completed work on two web projects for the STEPS course: a refresh of the main website and a new resources hub designed to help churches across the world run the course themselves.

We also launched a social media series called We Meet which is designed to create connections across the church through sharing stories.

OPERATIONS

We invest in our staff through a variety of training and development opportunities. Our risk management system is on-going, and we undertake an annual review of policies and risks to ensure compliance. Staff communication is handled both through electronic systems and through regular face-to-face meetings of individuals, teams, and the whole office. All staff are working from home as a temporary measure following government advice regarding COVID-19. We began meeting monthly in-person from May 2021.

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

IV. FUTURE OBJECTIVES

As with last year, the COVID-19 pandemic has presented challenges in making definitive plans for activities for the next year. Reflecting on the previous year, we recognise that we were unable to achieve some of the set objectives. These objectives remain at the heart of our vision, and we will continue to review these. Therefore, our key objectives continue to be:

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CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

V. FINANCIAL REVIEW

INCOMING RESOURCES

Total incoming resources for the year were £1,824,000 compared to £1,789,000 received in the prior year. £1,423,000 of this income was received from the church community as general giving (2020: £1,328,000) (excluding Gift Days).

Other income includes funds that were received during the year from attendees at conferences, training events and courses, preaching gifts, and donations to social action projects.

SUMMARY OF INCOME AND EXPENDITURE

RESOURCE EXPENDITURE

The expenditure of resources on the church’s activities during the year of £1,607,000 (2020: £1,599,000) was in line with the church’s charitable aims.

The categories used to present the church’s expenditure in Note 2 of the financial statements summarises the activities and ministries undertaken by the church. Staff and administration/overhead costs have been allocated across activity and ministry areas on an estimated time basis.

The cost categories comprise:

he cost categories comprise:
Sunday Venue The cost for the year to 31 July 2021 of £117,000 (2020: £286,000)
includes the London School of Economics (Old Building and
Peacock Theatre), Platanos College, St. John’s Bethnal Green,
Globe Primary School, Cryer Arts Theatre, and Coborn Street on
Sundays. We continually review our venues to ensure they are fit
forpurpose.
Production, Preaching, and Band Sunday costs (excluding venues – shown separately above) were
£373,000 (2020: £380,000).
Connect Groups, Pastoral, Families,
and Other Ministries		 The combined cost for these ministries was £217,000 (2020:
£172,000).
Alpha, Welcome, and Social Action The combined cost for the year was £313,000 (2020: £280,000)
This reflects increased distribution of restricted funds £216,000.

16

CHRIST CHURCH LONDON
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
Staff time spent in leading the church and serving in other
contexts totalled £294,000 (2020: £202,000). This includes the
Everythingactivityand service leadership.
Communication, media, web, and IT was £112,000 (2020:
£94,000).
The administrative functions of the church including office
administration, finance, and staff welfare was £181,000 (2020:
£185,000).
Church Leadership, Mission, and
serving other churches		 Staff time spent in leading the church and serving in other
contexts totalled £294,000 (2020: £202,000). This includes the
Everythingactivityand service leadership.
Communications Communication, media, web, and IT was £112,000 (2020:
£94,000).
Office and Finance The administrative functions of the church including office
administration, finance, and staff welfare was £181,000 (2020:
£185,000).

EXPENDITURE DURING THE YEAR

FUNDS AND BALANCE SHEET

Tangible fixed assets had a net book value at the end of the year of £22,000 (2020: £24,000). This is stated after deducting a depreciation charge of £14,000 for the year (2020: £31,000) and additions of £12,000 (2020: £21,000). The principal assets are sound and visual equipment used during the various church meetings and IT equipment used in the church office.

Cash at bank funds held at the year-end were £1,239,000 (2020: £1,004,000), representing £626,000 of general funds, £410,000 designated funds and £203,000 of restricted funds. Details on the movement of funds and year-end balances can be found in note 13 to the Financial Statements.

17

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

VI. POLICIES AND PROCEDURES

The following policies and procedures remained in place during the year, and were updated as necessary:

GRANT MAKING POLICY

Gifts to external organisations and individuals are considered by the service leaders on the basis of need and fulfilment of the charitable objectives. There are no upper or lower limits of support. Grants are made in conjunction with regular contact, budgetary control and adequate reporting.

RESERVES POLICY

The trustees have set a policy of retaining reserves sufficient for the foreseeable needs of the church. Where there is specific capital expenditure, foreseen amounts are set aside into designated funds so the general reserves are available to meet the costs of normal running and expansion of the church and to ensure the church can meet the commitments that have been entered into. The level of general reserves is anticipated to be approximately three months of the level of general expenditure.

To ensure the minimum reserves level is guaranteed by the Financial Services Compensation Scheme (FSCS), this year we initiated a project to diversify our accounts across several banks. This process was delayed by the COVID-19 pandemic, but to date we have three accounts open and two more in progress. Once all five accounts are in operation, we will have £425,000 under FSCS protection.

At 31 July 2021 the unrestricted reserves exceeded the minimum amount required by the trustees. This was due to increased regular giving, a reduction in anticipated expenditure and receiving more than anticipated in the May 2021 Gift Day. In the year the trustees agreed to designate £30,000 to a property fund. The funds will be held until a suitable property is available to purchase in London, in line with our charitable aims and objectives. A property sub-committee of trustees research suitable properties and present them to the full board.

The trustees will continue to monitor income closely before providing approval for new projects moving forward.

TRUSTEES RESPONSIBILITIES

The trustees (who are also the directors of Christ Church London for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

18

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PUBLIC BENEFIT

When planning activities for the year and the services available to the local community, the trustees ensure they have due regard to the public benefit guidance published by the Charities Commission, namely:

The great majority of the church’s meetings and events are open to the public and are publicised on our website, social media, and by emailed announcements. Individuals in the church are encouraged to invite friends and family as it is a key aim of Christ Church London to attract newcomers into its various activities so that they can participate in and benefit from all that the church has to offer.

The majority of Christ Church London events and activities can be accessed free of charge. When a charge has to be made, every effort is made (e.g. by some form of subsidy) to ensure that the cost does not exclude those for whom the activity would be especially beneficial.

AUDITORS

In so far as the trustees are aware:

APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF BY:

Claire Odunlami

Claire Odunlami (Dec 15, 2021 12:17 GMT)

Claire Odunlami FCCA Company Secretary

23 November 2021

19

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHRIST CHURCH LONDON

OPINION

We have audited the financial statements of Christ Church London (the 'charitable company') for the year ended 31 July 2021, which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

OTHER INFORMATION

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or

20

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

21

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

mwbrindley (Dec 23, 2021 10:34 GMT) Dec 23, 2021 mwbrindley Maurice Brindley BSc FCA (Senior Statutory Auditor) Date for and on behalf of Brindley Millen Ltd Chartered Accountants and Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

22

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

STATEMENT OF FINANCIAL ACTIVITIES

Notes
INCOME
Voluntary Income
Charitable activities
Investment Income
TOTAL
2
EXPENDITURE ON
Charitable Activities
2
NET INCOME/
(EXPENDITURE)
Transfers between
funds
Net movement in
funds
RECONCILIATION
OF FUNDS
Total funds brought
forward
TOTAL FUNDS
CARRIED FORWARD		 UNRESTRICTED
FUNDS
£
1,432,395
12,688
95
1,445,178
1,329,445
115,733
(30,000)
85,733
586,749
672,482		 DESIGNATED
FUND
£
-
-
30,000
30,000
380,000
410,000		 RESTRICTED
FUNDS
£
378,502
-
-
378,502
277,962
100,540
-
100,540
101,909
202,449		 31 JULY 2021
TOTAL
FUNDS
£
1,810,897
12,688
95
1,823,680
1,607,407
216,273
-
216,273
1,068,658
1,284,931		 31 JULY 2020
TOTAL
FUNDS
£
1,762,740
23,985
2,348
1,789,073
1,599,494
189,579
-
189,579
879,079
1,068,658

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

23

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

BALANCE SHEET AS AT 31 JULY 2021

Notes
FIXED ASSETS
Tangible Assets
7
CURRENT ASSETS
Stocks
8
Debtors
9
Cash at Bank
CREDITORS
Amounts falling due
within one year
10
NET
CURRENT ASSETS
TOTAL ASSETS
LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
13
Unrestricted Funds:
General Fund
Designated Fund
Restricted Funds
TOTAL FUNDS		 UNRESTRICTED
FUNDS
£
22,134
7,493
91,513
626,428
725,434
(75,086)
650,348
672,482
672,482		 DESIGNATED
FUND
£
-
-
-
410,000
410,000
-
410,000
410,000
410,000		 RESTRICTED
FUNDS
£
-
-
-
202,449
202,449
-
202,449
202,449
202,449		 31 JULY 2021
TOTAL
FUNDS
£
22,134
7,493
91,513
1,238,877
1,337,883
(75,086)
1,262,797
1,284,931
1,284,931
672,482
410,000
1,082,482
202,449
1,284,931		 31 JULY 2020
TOTAL
FUNDS
£
23,952
7,275
65,350
1,003,955
1,076,580
(31,874)
1,044,706
1,068,658
1,068,658
586,749
380,000
966,749
101,909
1,068,658

ON BEHALF OF THE BOARD: David Stroud

MJThomas

David Stroud (Dec 15, 2021 21:51 GMT) MJThomas (Dec 23, 2021 09:15 GMT)

David Stroud, Trustee

Michael Thomas, Trustee

Approved by the Board on 23 November 2021

24

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2021

ASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2021
NET CASH GENERATED FROM / (USED IN) OPERATING ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of tangible fixed assets
Interest received
NET CASH GENERATED FROM / (USED IN) INVESTING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTING YEAR
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE REPORTING
YEAR
CASH AND CASH EQUIVALENTS AT THE END OF THE REPORTING YEAR		 2021
£
247,182
(12,165)
(95)
(12,260)
234,922
1,003,955
1,238,877		 2020
£
263,249
(21,040)
(2,348)
(23,388)
239,861
764,094
1,003,955

NOTES TO THE CASH FLOW STATEMENT

RECONCILIATION OF NET INCOME / (DEFICIT) TO NET CASH FLOW FROM OPERATING ACTIVITIES

NET INCOME / (DEFICIT) FOR THE REPORTING YEAR (AS PER THE STATEMENT OF
FINANCIAL ACTIVITIES)
Adjustments for:
Depreciation charges
Interest received
Decrease / (Increase) in stocks
Decrease / (Increase) in debtors
(Decrease) / Increase in creditors
NET CASH GENERATED FROM / (USED IN) OPERATING ACTIVITIES		 2021
£
216,273
13,983
95
(218)
(26,163)
43,212
247,182		 2020
£
189,579
31,079
2,348
(54)
45,486
(5,189)
263,249

25

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS AND ASSESSMENT OF GOING CONCERN

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the 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 of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern

The financial statements are presented in sterling (£).

ACCOUNTING JUDGEMENTS AND ESTIMATION UNCERTAINTY

In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.

Useful economic life of tangible fixed assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

INCOME

All income is recognised in the Statement of Financial Activities once; the charity has entitlement to the funds; it is probable that the income will be received; the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Only items costing over £500 are capitalised and depreciated by the charitable company. Assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at annual rates in order to write off each asset over its estimated useful life. All fixed assets, excepting IT equipment, are depreciated at 20% straight line. IT equipment is depreciated at 33.3% straight line.

26

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

STOCKS

Stocks comprise food donated to the Vauxhall Foodbank project and are stated at estimated cost, plus stock of STEPS books held at estimated cost, less any impairment in value.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

DEBTORS

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.

CREDITORS

Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

FUND ACCOUNTING

Unrestricted funds are those available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

Restricted funds are funds that have been received for particular purposes.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charitable company operates a defined contributions pension scheme. Contributions payable for the year are charged in the statements of financial activities.

FINANCIAL INSTRUMENTS

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value.

2. DETAILED INCOME AND EXPENDITURE ACCOUNT

INCOME
General Donations
Special Offerings (inc. Gift Day)
Mission and Social Action Donations
Interest income
Other income including event income and
preaching gifts
Total		 UNRESTRICTED
FUNDS
£
1,423,432
6,575
-
95
15,076
1,445,178		 RESTRICTED
FUNDS
£
-
207,000
171,502
-
-
378,502		 2021 TOTAL
FUNDS
£
1,423,432
213,575
171,502
95
15,076
1,823,680		 2020 TOTAL
FUNDS
£
1,328,069
218,030
103,027
2,348
137,599
1,789,073

27

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

EXPENDITURE
Sunday Venue
116,965
-
Production, Preaching and Band
373,379
-
Connect Groups, Pastoral, Families, and other
ministries
164,020
53,262
Alpha, Welcome, and Social Action
96,857
216,350
Church Leadership, Mission, and serving other
churches
285,682
8,350
Communications
111,879
-
Office and Finance
180,663
-
Total
1,329,445
277,962
NET MOVEMENT IN FUNDS
115,733
100,540
. NET INCOME/(EXPENDITURE)
et income/(expenditure) is stated after charging:
Auditors' remuneration
Depreciation - owned assets
. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' remuneration (including salary, employer Social Security costs and pension
contribution)		 116,965
373,379
217,282
313,207
294,032
111,879
180,663
1607,407
216,273
2021
£
3,080
13,983
2021
£
189,986		 286,238
380,112
172,378
280,188
201,594
94,415
184,569
1,599,494
189,579
2020
£
3,080
31,078
2020
£
181,047

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging:

4. TRUSTEES' REMUNERATION AND BENEFITS

The above remuneration is in respect of the Senior Leader and the Head of Operations is in accordance with our Memorandum and Articles of Association.

Christ Church London considers its Key Management Personnel to be the Senior Leaders, Head of Operations, Ministry Leader and Finance Manager. Salaries for these employees were £332,826 (2020: £306,013). Employer Social Security costs and pension contributions were £39,248 and £33,283 (2020: £36,251 and £31,930) respectively.

TRUSTEES’ EXPENSES

Expenses paid to trustees for the year ended 31 July 2021 amounted to £2,657 (2020: £8,720). This includes reimbursed expenditure for carrying out executive responsibilities across the church's activities by the Senior Leader and the Head of Operations who also serve as trustees.

28

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

5. STAFF COSTS

5. STAFF COSTS
2021
£
Salaries
747,799
Employer Social Security costs
75,899
Employer pension contributions
74,502
898,200
The average monthly number of full-time equivalent employees during the year was:
17
The number of employees whose salary exceeded £60,000 was:
£60,000 - £70,000
3
£70,001 - £80,000
-
£80,001 - £90,000
1		 2020
£
657,453
66,120
67,314
790,887
15
3
-
1

2019/20 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Notes
INCOME
Voluntary Income
Charitable activities
Investment Income
TOTAL
2
EXPENDITURE ON
Charitable Activities
2
NET INCOME/
(EXPENDITURE)
Transfers between
funds
Net movement in funds
RECONCILIATION OF
FUNDS
Total funds brought
forward
TOTAL FUNDS
CARRIED FORWARD		 UNRESTRICTED
FUNDS
£
1,629,415
23,985
2,348
1,655,748
1,459,337
196,411
(380,000)
(183,589)
770,338
586,749		 DESIGNATED
FUND
£
-
-
380,000
380,000
-
380,000		 RESTRICTED
FUNDS
£
133,325
-
-
133,325
140,157
(6,832)
-
(6,832)
108,741
101,909		 31 JULY 2020
TOTAL
FUNDS
£
1,762,740
23,985
2,348
1,789,073
1,599,494
189,579
-
189,579
879,079
1,068,658

29

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

7. TANGIBLE FIXED ASSETS

7. TANGIBLE FIXED ASSETS
PA and
Music
Equipment
£
COST
At 01 August 2020
167,839
Additions
-
Disposals
(-)
At 31 July 2021
167,839
DEPRECIATION
At 01 August 2020
158,728
Charge for year
3,630
Elimination on Disposals
(-)
At 31 July 2021
162,358
NET BOOK VALUE
At 31 July 2021
5,482
At 31 July 2020
9,111
8. STOCKS
Stocks – Vauxhall Foodbank
Stocks – STEPS Books
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Gift aid receivable
Money held for church plant
Deposits and prepayments
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals
Income received in advance		 Video, IT, and
Other
Equipment
£
72,791
12,165
(-)
84,956
57,950
10,353
(-)
68,303
16,653
14,841
2021
£
-
7,493
7,493
2021
£
29,344
-
62,169
91,513
2021
£
48,329
8,062
18,695
75,086		 Totals
£
240,630
12,165
(-)
252,795
216,678
13,983
(-)
230,661
22,134
23,952
2020
£
4,071
3,204
7,275
2020
£
23,598
8,350
33,402
65,350
2020
£
16,083
14,954
837
31,874

30

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

12. OPERATING LEASE COMMITMENTS

The following operating lease payments, relating to 1-3 Coborn Street, are committed to be paid:

LAND AND BUILDINGS
Expiring:
Within one year
One to five years		 2021
£
100,000
400,000
500,000		 2020
£
-
-
-

13. MOVEMENT IN FUNDS

UNRESTRICTED FUNDS
General funds
Designated fund
RESTRICTED FUNDS
Property
Social Action
Church Plant
Other Ministries
019/20 MOVEMENT
UNRESTRICTED FUNDS
General funds
Designated fund
RESTRICTED FUNDS
Property
Social Action
Church Plant		 AT 1 AUGUST
2020
INCOMING
RESOURCES
£
£
586,749
1,445,178
380,000
-
966,749
1,445,178
67,051
118,000
26,508
207,239
8,350
-
-
53,263
101,909
378,502
1,068,658
1,823,680
IN FUNDS – COMPARATIVES
AT 1 AUGUST
2019
INCOMING
RESOURCES
£
£
770,338
1,655,748
-
-
770,338
1,655,748
67,051
-
3,717
132,744
37,973
581
108,741
133,325
879,079
1,789,073		 RESOURCES
EXPENDED
£
(1,329,445)
-
(1,329,445)
-
(216,349)
(8,350)
(53,263)
(277,962)
(1,607,407)
RESOURCES
EXPENDED
£
(1,459,337)
-
(1,459,337)
-
(109,953)
(30,204)
(140,157)
(1,599,494)		 TRANSFERS
BETWEEN
FUNDS
£
(30,000)
30,000
-
-
-
-
-
-
-
TRANSFERS
BETWEEN
FUNDS
£
(380,000)
380,000
-
-
-
-
-
-		 AT 31 JULY
2021
£
672,482
410,000
1,082,482
185,051
17,398
-
-
202,449
1,284,931
AT 31 JULY
2020
£
586,749
380,000
966,749
67,051
26,508
8,350
101,909
1,068,658

2019/20 MOVEMENT IN FUNDS – COMPARATIVES

31

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

Restricted Funds are accounted for in accordance with the policy detailed on page 27. The Property Fund, in preparation for future property investments was not spent during the year, and is being held in accordance with the reserves policy detailed on page 18. The Social Action fund relates primarily to the activity of the Vauxhall Foodbank, and the Church Plant fund relates to supporting the planting of churches, which in the past year included the support of a church plant in the Middle East.

14. RELATED PARTY DISCLOSURES

In March 2021, Chee Yeen Fung was appointed as a trustee of Christ Church London. Chee Yeen is the sister of Yu Yeen Fung who was employed during the year as an Executive Assistant. Total remuneration during the year amounted to £16,042. Chee Yeen was not involved in any decisions regarding Yu Yeen’s remuneration.

Mike Thomas is also a trustee of 222 Ministries. Christ Church London supported 222 Ministries through a donation of £4,650 for their Afghanistan Emergency Support Fund. Mike was not involved in determining the level of support we gave to 222 Ministries.

The cumulative total of donations given without conditions by the trustees and their related parties during the year was £277,943, including Gift Aid (2020: £252,432).

15. GUARANTEE STATUS

The company is limited by guarantee, which means that every member undertakes to contribute to the assets of the company in the event of a winding up, including any members up to one year after ceasing to be a member, such amounts as may be required not exceeding £10.

32

CHRIST CHURCH LONDON REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

APPENDIX 1

CHRIST CHURCH LONDON’S COUNCIL OF REFERENCE

ANDY CROUCH

Andy Crouch is partner for theology and culture at Praxis, an organisation that works as a creative engine for redemptive entrepreneurship. He is the author of several books, the most recent of which is The Tech-Wise Family: Everyday Steps for Putting Technology in Its Proper Place .

DAVID DEVENISH

David serves Newfrontiers internationally as a leader in the Newfrontiers Together Team. He has many years’ experience of working with churches in the UK and other cultures around the world.

REV. NICKY AND PIPPA GUMBEL

Nicky is the Vicar of Holy Trinity Brompton, one of the largest Anglican Churches in the UK. He is the pioneer of the Alpha Course, which runs across the world. Nicky and Pippa together write the Bible in One Year reading plan.

DR KRISH KANDIAH

Krish founded Home For Good, a charity seeking to find loving homes for vulnerable children. He is also the chair of the Adoption and Special Guardianship Leadership Board, where he brings strategic leadership to the finding of permanent families for children in the care system. . Dr Kandiah is an ambassador for the UK aid and development charity Tearfund. He has authored 13 books, including Paradoxology and Home for Good: Making a Difference for Vulnerable Children .

REV CANON PAUL MACONOCHIE

Paul is the Leadership Development Director at Grace Gathering church in Indiana, USA. Paul also leads the 3D Movement National Team. He was previously the Senior Leader at Network Church Sheffield and has helped many churches re-engineer their small group structures.

REV CANON JOHN AND ELEANOR MUMFORD

John and Eleanor are co-ordinators of the Vineyard International Executive, after leading The Vineyard Church UK for over 20 years.

DR AMY ORR-EWING

Amy is an international author, speaker, and theologian who addresses the deep questions of our day with meaningful answers found in the Christian Faith. She is the author of multiple books including, Where is God in All the Suffering? and the bestselling Why Trust The Bible?. In 2010 Amy and her husband founded Latimer Church in Buckinghamshire.

REV CANON MIKE PILAVACHI

Mike is a Senior Pastor at Soul Survivor Watford and was awarded and MBE for his services to young people in 2019. He has written several books including, Soul Survivor and Wasteland?: Encountering God in the Desert .

33