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2020-12-31-accounts

(Company Limited by Guarantee)

Trustees’ Report, Independent Examiner’s Report and Financial Statements Year Ended 31 December 2020

Charity Number: 1113299

Company Number: 05661787

Churches Together in Britain and Ireland Financial Statements Year Ended 31 December 2020 Contents

Pages
Letter from the General Secretary 1
Trustees' Report (Incorporating the Directors’ Report) 2 - 13
Independent Examiner’s Report 14
Statement of Financial Activities (Incorporating the Income and Expenditure Account) 15
Balance Sheet 16
Statement of Cashflows 17
Accounting Policies and Notes 18 - 33
Reference and Administrative Information 34 - 35

Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) Year Ended 31 December 2020

Letter from the General Secretary

2020 has been a year that will live long in the memory. The early part of the year was dominated by storms and disruption that quickly moved into pandemic and the resulting tragic months of death and restrictions. It has been a time when we learned to live where we were (for those of us that could afford it) and get accustomed to social distancing and handwashing. There were a number of other projects we washed our hands of, not least many of our relationships in Europe through Brexit, along with the need to be in the same space in order to communicate with one another. It saw the advent of Zoom conferencing which has had a dramatic effect on all of us both positive and negative. It seemed as if all our thinking time had evaporated as many of us spend long hours bouncing from one meeting to the next. It has had the effect of bringing many more people into our networks and meetings who might not otherwise have accessed our work.

One of the great successes was the Church Leaders Zoom meetings that allowed senior religious and administrative officers to gather in virtual space to share stories and resources. It has been a great opportunity for leaders across the four nations to keep contact with one another and most recently, to keep abreast of political and social aspects of areas such as the Good Friday Agreement. It has also been enormously helpful to develop, early in the pandemic, a whole series of webinars that allowed different voices to be heard and issues to be raised. In this Annual Report you will read of many instances where we have been able to lift up voices that might otherwise have been silenced, especially around the issues of racial justice, Black Lives Matter and the crucial work around refugee, asylum and sanctuary.

In last year’s report I said that "It is always true to say that we work most effectively when we work together" and this has been borne out time and time again as we have seen the way in which our communities have had to hold together in the face of the pandemic. We also need to acknowledge the way in which our member churches have sought to serve the most vulnerable in our society.

I want to pay particular thanks again to the many people who support CTBI, its work and its structures. To the Trustees and now especially to our new Moderator, the Revd Graham Sparkes. We are also grateful to Trustees such as Bishop David Hamid who have served CTBI over the last eight years and have moved on. I want to put on record my appreciation for my staff colleagues who have continued to be professional and highly motivated throughout this last year. Working from home seems to have presented few problems and we have continued to provide even more resources and ways of meeting together. The last year has proved the benefits of having a part-time Business/Company Secretary role within the staff team and this has allowed me to focus on other aspects of our work. We hope and pray that we can return to some normality in the coming year. We are yet to discover what that new normal might look like. It almost certainly won’t look like the year that has just gone.

Bob Fyffe

Bob Fyffe General Secretary

Page 1

Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Trustees’ Report

The Trustees present their Annual Report (also incorporating the Directors’ Report) for the year ended 31 December 2020. The Trustees are listed on page 34 and general information relating to CTBI is also given on page 35.

Overview of Churches Together in Britain and Ireland

Structure, Governance and Management

Churches Together in Britain and Ireland (CTBI) was incorporated in England on 22 December 2005, and on 1 April 2007 acquired all the assets and functions of Churches Together in Britain and Ireland, an unincorporated association, (Registered Charity number: 259688). The Company provides a structure to facilitate the operations of CTBI with membership drawn from the National Ecumenical Instruments (Action of Churches Together in Scotland (ACTS), Churches Together in England (CTE), Churches Together in Wales (Cytûn) and the Irish Council of Churches (ICC)), the Churches and Bodies in Association.

CTBI is a private company limited by guarantee, registered in England and Wales (Company number 05661787) and established under a Memorandum and Articles of Association dated 22 December 2005 (as amended on 3 May 2007, 22 September 2010, 5 May 2011 and 17 May 2017). It is a registered charity with the Charity Commission for England and Wales (Charity number 1113299).

The names of those who served as Trustees (and who are also directors of the company) during 2020 and up to the date of signing these accounts are listed on page 34. The Trustees delegate day to day management of CTBI to the General Secretary, Bob Fyffe.

Governance

The board meets five times each year, usually including at least one residential meeting. In addition, the Finance and General Purposes Committee reports to each meeting of the Trustees. Board members new to the work of CTBI meet with the General Secretary and senior staff for orientation. Where required, additional training or advice is made available and Trustees are kept informed and up to date about all relevant regulatory and other governance matters at board meetings.

The board are responsible for all key strategic decisions of the charity, including approval of annual budgets, review of strategy and risk register, approving salary levels and overseeing key personnel appointments. Line management of the General Secretary is carried out by selected trustees on behalf of the whole board. Day to day activities and operational decision-making are delegated to the staff team under the direction of the General Secretary.

Board membership in recent years has been broadened to give greater voice to the churches whilst also allowing the Board to develop the necessary skills and expertise. Trustees can be nominated or proposed by any of the members of CTBI (other than Bodies in Association). Those nominated by the National Ecumenical Bodies of England, Scotland or Wales or by the Irish Council of Churches (collectively, a maximum of 5) will be elected to serve by majority vote of those Trustees who have been appointed from the member Churches. Member Churches can appoint, collectively, up to 10 Trustees who are elected via proposal to a nominations committee which ensures balance between various Christian traditions. Trustees can also be co-opted, and anyone so appointed will serve until the subsequent AGM at which point they can be re-elected. The minimum number of Trustees is 10 and the maximum is 22. One third of Trustees retire at each AGM and are eligible for re-election. We continue to seek new ways of ensuring that our member Churches have significant representation and the issues that are live for our membership are brought to the board table.

Page 2

Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

During the year the Board of Trustees has spent much time working on assessing and reshaping work priorities and agreed that our work programme should:

  1. Meet unmet needs (work desired by the Churches but not being done)

  2. Add value (work amplifying or increasing the impact of work done by the Churches)

  3. Only be possible if done ecumenically (work which achieves that which member Churches cannot achieve individually)

  4. Add a four nations focus (work drawing on the insights/contexts of member Churches in the nations to enrich each other)

  5. Be done in partnership (work draws on or enables partnerships)

An important initiative moving through 2020 into 2021 has been the search process and appointment of a new Moderator of Trustees as Archbishop Angaelos completed two three-year terms. The Search Committee made a recommendation for Graham Sparkes to be appointed as the new Moderator and this was ratified at the AGM. The appointment of the new Moderator will be an important impetus towards the work of reshaping the governance model and a deeper consideration of how CTBI works in close alignment with its member Churches and the National Ecumenical Instruments. During the year, we said a farewell to Christine Elliott, who left her post as Director of the International Programme after 7 years.

The staff and Trustees of CTBI continue to believe that we have an important role to play across the Four Nations and internationally. At a time when we need reconciliation both locally, nationally, and internationally, the need for dialogue between the churches, other faith communities and government is even more important. The sharing of information, the creation of resources that support local initiatives, the focus of national and international into our local understanding, is as important today as at any time in the past. CTBI is a resource for serving the churches and the communities in which our churches are set, as they strive to work together through deepening dialogue and interaction. The small dedicated team remains responsive to fresh demands and new initiatives. Its emphasis continues to be on relationships and the building of dialogue between the churches and associated organisations as they serve their local communities.

The Trustees have given due consideration to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011. During the year, the following areas of work in particular contributed to the requirement to provide public benefit. More details are provided in the Achievements and Performance section of this report:

The Trustees note the update to the Charity Governance Code in December 2020 and will review this in due course with a view to identifying any further steps they could take to improve the governance of the charity.

The charity had no fundraising activity in 2020 requiring disclosure under S162A of the Charities Act.

Objectives and Activities

Churches Together in Britain and Ireland has been established by its member Churches to enable them to work together for the advancement of the Christian religion, the relief of poverty, the advancement of education and any other charitable purpose. CTBI seeks to further these objects by providing opportunities for representatives of the Churches to meet together and to share some of their resources in the pursuance of jointly agreed activities.

CTBI is an umbrella body through which the member Churches cooperate on common issues. It works closely with the National Ecumenical Instruments to give witness to the essential unity of the Christian movement. CTBI’s core tasks are providing “structured ecumenical space” for meetings and encounters, facilitating shared study on common issues and fostering relationships, both among the Churches and between the Churches and the wider world.

Page 3

Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Our Statement of Purpose

Churches Together in Britain and Ireland believe that Ecumenism is an urgent evangelical imperative. It is time we cease projecting the image of a dismembered Body of Christ, which is a counter-witness to the Good News we proclaim.

The ecumenism we seek is dynamic and responsive, not a monolith resulting from one powerful church swallowing the others but a mega community composed of churches (local, national and international) that complement one another, each with its own historical identity, its unique tradition, its own doctrinal emphasis, and its particular worship form; in short, a Pentecostal communion of communities that understand and speak one another’s language.

Our work is built around four focus areas:

Engagement (Programme)

  1. Have consistent and deeper engagement with member churches and partner organisations

  2. Listen closely to the needs and aspirations of the membership

  3. Champion diversity (integration, identity, inclusivity)

  4. Raise and develop CTBI’s profile

  5. Be innovative and bold

  6. Increase the web / social media reach of CTBI

Leadership

  1. Promote strong collaborative partnerships

  2. Offer appropriate theological reflection

  3. Convening appropriate forums and networks

Impact

  1. Deliver strong, significant impact in our work nationally and internationally

Organisational Performance

  1. Strengthen the financial performance of the organisation, through rigorous and ongoing audit

  2. Ensure smooth running of the organisation, committees and Board

  3. Continue to develop the organisation to be fit for purpose

  4. Strengthen the performance and learning of the team

Principal activities

The principal activities of the Charity continue to be carried out for the public benefit and comprise:

These activities are undertaken in close partnership with the ecumenical bodies established to work in the separate nations of England, Scotland, Wales and Ireland.

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Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Achievements and Performance

Justice & Inclusion

Serious Youth Violence

https://wearesynergy.org.uk/

The work to address serious youth violence (SYV) has expanded, and despite the restrictions of COVID-19, it continues to have an impact on the Church and the young people with whom we are engaging. CTBI has:

Churches’ Refugee Network (CRN)

The CRN’s work continues to expand as issues of Britain leaving the EU, COVID-19 and the refugee crisis continue to have an impact on Britain and Ireland and across the world. Our work encourages, inspires and educates British and Irish churches to engage with asylum, refugee and migration issues. The Network has:

Church of Sanctuary

https://churchofsanctuary.org/

This project continues to have real impact in its effort to encourage British and Irish churches to be welcoming and hospitable to strangers. Church of Sanctuary:

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Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Racial Justice Sunday/Racial Justice

This initiative enables churches to remember the importance of racial justice, reflect on human diversity and thank God for it, and respond by working to end injustice, racism and ignorance through prayer and action. The work has included:

Slavery and Reparations

CTBI has been working with Christian Aid and the Baptist Union to enable churches, mission agencies and Christians to have a better theological understanding of reparations. CTBI has:

Faith and Order & Inter-Religious

Week of Prayer for Christian Unity

“Unusual Kindness” (Malta) https://ctbi.org.uk/week-of-prayer-for-christian-unity-2020/ and https://weekofprayer.org/

The 2020 resource was well received and widely used. For the churches seeking to witness to God’s love and justice, unity between Christians is vital and means there is a clear connection between our prayers for unity and the need for reconciliation and justice in our world. Whilst recognizing our own complicity in systems of injustice, Jesus’ prayer that his disciples ‘be one’ enables us to combat injustice. The text for this year is from Acts 28:28 and includes the phrase “Let it be known to you then that this salvation of God has been sent to the Gentiles; they will listen”.

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Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Lent 2020

“Opening the Scriptures” https://ctbi.org.uk/lent-study-2020/

The 2020 Lenten study material, for use in local Churches Together Groups, was written by Dr Clare Amos and focused on “Opening the Scriptures”. The literal inspiration for the course is the encounter between the resurrected Jesus and two disciples on the road to Emmaus (Luke 24:13-35).

The Lent 2021 resource is written by John Alan Davis and is titled – “The Poet’s Gospel: A Gospel in Blank Verse with Rhymed Parables”.

Inter-Religious: Crossing Boundaries of Faith conference

A conference took place in Glasgow, organised by the Inter Faith Theological Advisory Group (IFTAG). The conference was prompted by the controversy surrounding the Qur’anic recitation during the Epiphany Eucharist at St Mary’s Episcopal Cathedral in Glasgow in January 2017. The primary purpose of the conference was to resource member churches of CTBI by opening up a theologically focused conversation between academics and practitioners reflecting on experience, practice and underlying principles.

A publication of the papers will follow in 2021-22.

Inter-Religious: Church Growth and Inter Faith Relations

This work has been considering:

Inter-Religious: Invest in Peace

https://investinpeace.org/

The COVID-19 pandemic impacted greatly on activities in 2020, requiring a renewed focus in 2021 to build on the following:

Forthcoming resources and publications

These include:

Mission Theology

The Mission Theology Advisory Group (MTAG) has, as always, been busy with projects, delivering resources, and supporting one another with prayer and practical help for the mission work its members are engaged in, particularly against the backdrop of COVID-19. We provide resources in the areas of:

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Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Spirituality

Theology

Reconciliation

Evangelism

Mission

Development

Church, Nationhood and Identity

A scoping exercise looking at the possibility of a two-year project on Church, Nationhood and Identity commenced in late 2020 with the aim of examining how the church is responding to questions of nationhood and identity across the four nations and how these issues are impacting the churches themselves as Christian communities. During an October meeting of church leaders to discuss the impact of Brexit, there was strong support for the project. Preliminary work has been undertaken with the four National Ecumenical Instruments in the form of a consultation, which will inform a more comprehensive project proposal in early 2021.

Page 8

Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Centre for Theology and Justice

https://theologyjustice.org/

The Centre for Theology and Justice continues to develop with a range of lectures and events. Following the tragic events at the Manchester Arena, work included our project “Longing to Belong”. It has had a significant exposure in Manchester and we are currently planning a publication to share the various aspects that other community groups can use in developing an arts project that also explores theological themes, although this has been delayed by the course of the pandemic. We especially want to acknowledge the contribution of our artist in residence Lesley Sutton.

Climate Sunday

https://www.climatesunday.org/

In early 2020, the CTBI Environmental Issues Network appointed a coordinator to support and resource congregations leading up to a special ‘Climate Sunday’ and then the COP26 meeting in Glasgow, scheduled for November 2021. Originally planned for 2020, but postponed due to COVID-19, the Climate Sunday project has been underwritten through generous donations, and CTBI office staff will operate support structures during this time limited, but extended appointment.

Local churches are encouraged to hold a climate-focused service on any Sunday before 5 September 2021, with free resources available to suit every tradition and style of worship. During their local Climate Sunday, churches are invited to do one or more of three things:

  1. Worship: Hold a climate-focused service

  2. Commit: to reduce greenhouse gas emissions as a local church community

  3. Speak up: Join with other churches in calling for bolder action from the UK government in the fight against climate change

The culmination of the campaign will be a national Climate Sunday event on 5 September 2021, to share church commitments and pray for bold action and courageous leadership at COP26.

International Ecumenical Work

China

The China Forum continues to meet and is an important means by which the churches of Britain and Ireland both maintain contact with the Churches in China (particularly the China Christian Council) and to keep up to date with the developing issues in China, especially with respect to the way it affects the Churches.

The China focus has continued around the theme of Sinification and environmental protection along with a continued engagement with the Amity Foundation. Occasional visits to projects will continue from time to time.

Korea

Ongoing staff priorities and changes mean that as a result of our commitment to the call from the National Christian Council of Korea (NCCK) to support them in their efforts for a peace process at the World Council of Churches (WCC) General Assembly in Bussan in 2013 has now meant that we only have capacity to support any UK based meetings alongside publicity from the WCC campaign and programme.

Sri Lanka

CTBI has developed a close working relationship with the National Council of Churches in Sri Lanka over a number of years. The latest project is one that focuses on post conflict resolution. It will offer resources that include study materials and Bible studies rooted in the Sri Lankan experience.

Future work will include:

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Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Support for Member Bodies

The CTBI office continues to support a number of Bodies in Association and supply significant support to Faith in Europe along with some administrative support to the Society for Ecumenical Studies. Web support is another area we offer to a number of bodies. In addition, CTBI staff operate as members or Trustees to a number of work-related groups such as ROOTS for Churches, EAPPI and others.

Impact of COVID-19

During 2020, the charity has been affected along with wider society by the spread of COVID-19 and the resulting economic and societal impacts. Since mid-March 2020, all CTBI staff have been working from home, with all meetings of staff, trustees and working groups moving online. Most elements of the charity’s work have been able to continue successfully, albeit through different means, as well as some new opportunities for presentation of our work and concerns being opened up through online platforms. As such, a programme of webinars took place from May onwards, covering areas of CBTI’s work on climate change, racial justice and refugees. Attendance has been consistently good, and this has encouraged a further programme of webinars to take place through 2021. Staff are to be congratulated on the development of these new resources for the churches and the professional training offered to those participating in the webinars.

The financial impact has been seen in the reduction in the value of the charity’s investment assets since the end of the financial year. While these assets are held for the long term, the short-term downturn and economic prognosis indicates that it is likely that total return on our investments will reduce in the short term. In line with this, the charity has revised budget forecasts for the next 5 years and have taken decisions which reduce costs in order to ensure the core work of the charity can be funded in a sustainable way. The Trustees are confident that both the level of reserves held, and the revised budgets mean that the charity will be able to continue to operate effectively throughout the current phase of the COVID-19 pandemic and beyond.

CTBI Websites and Social Media

https://ctbi.org.uk/

Our main website, ctbi.org.uk, continues to grow in popularity with resources for observing the Week of Prayer for Christian Unity, Remembrance Sunday and Lent in highest demand.

There’s also a strong interest in how the churches are responding to issues such as refugees, poverty and the environment, and the website covers key areas of CTBI’s work such as Justice and Inclusion, Interfaith and International Programmes.

Social media

Twitter: @ctbi

Facebook: www.facebook.com/ctbishare/

Other websites

We currently have a number of websites (some already mentioned above with more planned):

Page 10

Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Financial Review

Donations in 2020 derive mainly from member church subscriptions and donations for specific projects. Subscription rates are set annually at the AGM by the membership – the rates remain unchanged and income from this source remained at a similar level to last year. Investment income derives from our portfolio of investments but the largest element consists of rent received from Christian Aid in respect of Inter Church House. Grants were received for the Climate Sunday project and the Hardship fund. Charitable activities generate income from various events and the provision of services to other ecumenical organisations. Sales of publications have shown a decrease of around 60% compared with 2019.

Expenditure has increased very slightly compared to 2019. Grants were made in support of ecumenical work in the UK and mission-related social development work in Nepal. In addition, a grant was made to Christians Abroad CIO, a new charity established to continue the work of the Christians Abroad project previously run as part of CTBI. The grant consisted of the residual assets of that project. Ongoing support was given to the Centre for Theology and Justice and to the Invest in Peace programme, and support in the form of staff involvement and a grant was given to the Synergy Network, a coalition of agencies working to combat serious youth violence.

The net expenditure (before investment gains and transfers) on the general fund was £16,338 for the year ( 2019: net income of £22,080 ), as the previous year’s results included a significant adjustment to the pension deficit. Designated funds show net expenditure of £24,209 ( 2019: £81,686 ), which includes sales proceeds and costs from publications. Restricted funds show net expenditure of £22,521 ( 2019: net income of £55,910 ), reflecting in particular the grant of the balance on the Christians Abroad project, which amounted to £23,643.

The value of investments has shown net gains (realised and unrealised) of £24,952 during the year ( 2019: £34,302 ). There was a gain on disposal of a property asset of £44,596. The Charity’s reserves remain at a satisfactory level. The Charity is budgeting to continue to operate within its overall level of income and average investment gains over the coming five years.

Investments and property

The Trustees may invest any funds not immediately required by CTBI into such investments, securities or property as they believe would be beneficial to CTBI. The portfolio of investments is managed on a discretionary basis by Investec Wealth & Investment Limited, subject to certain ethical restrictions laid down by the Trustees. These arrangements are monitored by the Finance and General Purposes Committee of CTBI, which reports to the Trustees. In addition CTBI holds, as a programme related investment, Inter Church House which is occupied by Christian Aid for use as their headquarters. From October 2018, CTBI has also been based in this property.

Investment policy and performance

CTBI investments are held in a portfolio of equities and securities managed on a discretionary basis by Investec with the aim of providing income and growth. This fund was benchmarked against a weighted composite benchmark in line with the asset allocation. Investment performance has shown a total net return of 3.26% against a benchmark figure of 1.65%. The Trustees are satisfied with the performance of the investment portfolio during the year.

Page 11

Churches Together in Britain and Ireland Trustees’ Report (Incorporating the Directors’ Report) (continued) Year Ended 31 December 2020

Reserves

The charity held total funds of £2,294,608 at the year end. A permanent endowment fund of £54,859 is held to support the production of ecumenical materials and resources. Designated funds amount to £1,016,820 and include the Property Fund of £726,160, which can only be realised on the disposal of programme related investments, and the Ecumenical Fund of £241,350 to support the national ecumenical instruments. Other designated funds are set aside to support longer term work of the charity, including publication of resource materials and support of websites. Restricted funds of £151,945 are held for a range of projects and grantgiving activities.

CTBI needs reserves to enable it to meet both its on-going commitments in respect of its general charitable activities and to meet its future operating requirements. The Trustees have assessed the required reserves having taken into account six months on-going expenses plus known existing and future liabilities together with a contingency to allow for unforeseen negative short term fluctuations in the value of investments held. This assessment requires a minimum level of free reserves (i.e. general funds less amounts represented by the net book value of fixed assets) of £700,000. A minimum level of investment income is required to be maintained to enable the current level of activity to continue into the future.

The level of free reserves as at 31 December 2020, represented by the general fund excluding the amount held as tangible fixed assets, amounted to £1,038,426. The Trustees are satisfied that the level of reserves held is adequate and in line with the policy.

Grant making policy

The charity makes grants to individuals and institutions in furtherance of its charitable objectives. The principal source of grant funding is the designated Ecumenical Fund, which supports ecumenical work carried out by any of the four national ecumenical instruments in Britain and Ireland. These bodies can apply for grant funding to support new or ongoing work. Applications are assessed by the Trustees in line with wider charitable and strategic objectives.

Grants are also made from restricted funds of the charity. The international student hardship fund makes individual grants to support international students studying in the UK and Ireland who are experiencing financial hardship, as an expression of ecumenical support and solidarity. The Christians Abroad project also makes occasional grants to organisations overseas where international ecumenical volunteers are placed.

Expenditure on grants during the year is detailed in note 8 to the accounts. Some grants are made as part of the ecumenical programme work of the charity; the student hardship fund operates as a grant-making project and all its costs are allocated to that activity of the charity. The allocation of grant costs between these activities is shown in notes 6 and 8 to the accounts.

Key Management Personnel

Remuneration levels for key management personnel are set annually as part of the budgeting process and approved by Trustees, in accordance with the charity’s payscales. Details of remuneration paid to key management personnel are provided in note 7 to the accounts on page 22.

Volunteers

The charity benefits from the involvement of many volunteers in the planning and delivery of its charitable activities. The charity is grateful, in particular, for those who volunteer as Trustees, and those who contribute to the writing and production of worship resources for publication by the charity.

Future plans

Much of our future programme work is outlined above on a project by project basis. We hope there will be significant strides forward in many of our new and ongoing areas of work. There will also be a continued focus on developing our governance structures in the coming year following the appointment of a new Moderator in autumn 2020, as well as the ongoing challenge of developing new ways of working together during the ongoing COVID-19 pandemic.

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Independent Examiner’s Report to the Trustees of Churches Together in Britain and Ireland

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2020, which are set out on pages 15 to 33.

This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charitable company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

Tara Westcott, FCCA Crowe U.K. LLP

Date: 24 September 2021

Fourth Floor St James House St James’ Square Cheltenham Gloucestershire GL50 3PR

Page 14

Churches Together in Britain and Ireland Statement of Financial Activities (including Income and Expenditure Account) For the Year Ended 31 December 2020

Notes
INCOME FROM:
Donations and legacies
2
Charitable activities
3
Investments
4
Other income: gain on
disposal of fixed assets
Total income
EXPENDITURE ON:
Raising Funds
Charitable activities
5
Total expenditure
Net (expenditure) / income
before gains on investments
Net gains on investments
12
Net income / (expenditure)
Transfers between funds
18
Net movement in funds
18
Reconciliation of Funds
Total Funds brought forward
Total Funds carried forward		 Unrestricted funds
General
Designated
Fund
Funds
£
£
152,178
-
1,000
3,938
374,524
3,391
44,596
-
572,298
7,329
12,507
1,540
576,129
29,998
588,636
31,538
(16,338)
(24,209)
20,722
2,553
4,384
(21,656)
-
368
4,384
(21,288)
1,066,600
1,038,108
1,070,984
1,016,820		 Restricted
Funds
£
96,764
4,411
1,589
-
102,764
706
124,579
125,285
(22,521)
1,170
(21,351)
-
(21,351)
173,296
151,945		 Endowment
Funds
£
-
-
674
-
674
306
-
306
368
507
875
(368)
507
54,352
54,859		 Total
2020
£
248,942
9,349
380,178
44,596
683,065
15,059
730,706
745,765
(62,700)
24,952
(37,748)
-
(37,748)
2,332,356
2,294,608		 Total
2019
£
287,330
26,136
429,806
-
743,272
10,731
734,862
745,593
(2,321)
34,302
31,981
-
31,981
2,300,375
2,332,356

The notes on pages 18 to 33 form part of these financial statements

Page 15

1 2020 2020 2019
1
Notes £ £ £
FIXEDASSETS 1
Tangibleassets 11 32,558 153,697
Quotedinvestments 12a 1,760,436 1,895,544
InterestinInter-Church House 12b 526,160 526,160
TotalFixedAssets 2,319,154 2,575,401
CURRENTASSETS
Debtors 13 26,093 53,870
Cashatbankandshorttermdeposit 206,971 30,589
TotalCurrentAssets 233,064 84,459
LIABILITIES
Creditors:amountsfallingduewithinoneyear 14 (65,979) (97,504)
NETCURRENTASSETS/
(LIABILITIES)		 167,085 (13,045)
TOTALASSETSLESSCURRENTLIABILITIES 2,486,239 2,562,356
CREDITORS:amountsfallingdueinmorethanoneyear 15 (191,631) (230,000)
TOTALNETASSETS 2,294,608 2,332,356
THEFUNDSOFTHECHARITY 18/20
Unrestricted- Generalfund 1,070,984 1,066,600
Unrestricted- Designatedfunds 290,660 311,948
-Property fund 726,160 726,160
2,087,804 2,104,708
Restrictedfunds 151,945 173,296
Endowedfunds 54,859 54,352
TOTALCHARITYFUNDS 2,294,608 2,332,356

Churches Together in Britain and Ireland Statement of Cashflows

Year Ended 31 December 2020

Notes
Cash flows used in operating activities
22
Cash flows from investing activities
Dividends, interest and rents from
investments
Proceeds from sale of property, plant &
equipment
Purchase of equipment
Proceeds from sale of investments
Purchase of investments
Cash provided by investing activities
Change in cash and cash equivalents in the
year
Cash and cash equivalents at the beginning
of the year
Total cash and cash equivalents at the end
of the year
Analysis of cash and cash equivalents:
Cash at bank
Deposit accounts
Cash in hand		 £
380,178
163,696
(1,284)
660,247
(500,187)		 2020
£
(526,268)
702,650
176,382
30,589
206,971
8,524
198,232
215
206,971		 £
429,806
-
(1,085)
1,569,620
(1,468,521)		 2019
£
(553,540)
529,820
(23,720)
54,309
30,589
20,337
10,037
215
30,589

The notes on pages 18 to 33 form part of these financial statements

Page 17

Churches Together in Britain and Ireland Notes to the Financial Statements Year Ended 31 December 2020

1. ACCOUNTING POLICIES

The financial statements have been prepared in accordance with 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) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011. The financial statements have been prepared under historical cost convention with the exception of investments which are included at market value.

Churches Together in Britain and Ireland meets the definition of a public benefit entity under FRS 102.

At the time of approval, the COVID-19 virus continues to place restrictions on the ability of the charity to operate as it would under normal circumstances. The long term impact of the pandemic are unknown but the Trustees continue to closely monitor the situation and respond to changes in the level of restrictions as they affect the work of the charity.

The Trustees have undertaken planning and forecasting and continue to closely monitor the developing situation, as outlined in the Trustees’ Report on page 10. Despite the current circumstances the trustees believe that the charity’s financial resources and contingency planning are sufficient to ensure the ability of the charity to continue as a going concern for the foreseeable future, being at least twelve months from the date of approval of these accounts, and that there are no material uncertainties about its ability to continue. Therefore they have prepared the financial statements on a going concern basis.

d) Fixed Assets

All items with a value of over £1,000 are capitalised. Depreciation is provided on a straight line basis at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold properties - Nil Office furniture and equipment - up to 5 years Computer equipment - up to 4 years

The Trustees review the carrying value of the property to determine if any impairment has been incurred as at the Balance Sheet date, and an impairment adjustment is made to reflect any such reduction in value.

e) Investments

Investments are included at market value as at the Balance Sheet date. The surplus or deficit against cost or latest valuation, combined with differences between carrying value (or cost if acquired during the year) and the proceeds of investments disposed of, is included as gains or losses in the Statement of Financial Activities.

The interest in Inter-Church House represents the former offices of CTBI which are let to a Christian organisation with complementary aims and objectives to those of CTBI. The interest of CTBI in the property is accordingly shown in the financial statements as a programme related investment and carried in the Balance Sheet at the original amount invested less any impairment. The Trustees regularly review the carrying value and do not consider any impairment is needed.

Page 18

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

1. ACCOUNTING POLICIES (continued)

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income received by way of grants and donations is included in full in the Statement of Financial Activities when receivable. Where entitlement is conditional on the delivery of a specific performance by the charity, grants are recognised when the charity earns the right to consideration by its performance. Where a grant or donation is given for a specific purpose, it is included in restricted income and any unexpended portion is carried forward as a restricted fund. Subscriptions, which are deemed to be voluntary, are recognised in the Statement of Financial Activities in the period to which the income relates. For legacies, entitlement is the earlier of the estate accounts being approved or cash being received. All other income is included in the Statement of Financial Activities as and when entitlement arises, the amount can be reliably quantified and the economic benefit to the charity is considered probable.

g) Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of VAT. Charitable activity costs include attributable staff and other costs for each area of the organisation together with a corresponding apportionment of support costs. The apportionment is done on the basis of staff time spent on each activity. Governance costs are those associated with constitutional and statutory requirements and include an allocation of overhead costs relating to those activities.

h) Grant Making

Grants payable are recognised when a constructive obligation arises that results in the payment being unavoidable and are recognised in the Statement of Financial Activities on an accruals basis. The Trustees or designated subcommittees decide which organisations or individuals should receive grants, and the level which should be granted.

i) Pension Costs

CTBI does not have its own pension scheme, but contributes to denominational schemes or TPT Retirement Solutions Growth Plan as is appropriate for individual staff members. All staff are entitled to join a pension scheme. Contributions to such schemes are recorded as part of staff costs. Pension costs are charged to the Statement of Financial Activities as they are incurred.

The TPT Growth Plan is in most respects a money purchase arrangement, but does include certain guaranteed benefit elements. The Plan is a multi-employer scheme. As such it is not possible in the normal course of events to identify the share of the underlying assets belonging to the individual participating employers, and accordingly, in accordance with section 28 of FRS 102, is also accounted for as a defined contribution scheme with contributions being recorded as they become payable.

j) Classes of Charitable Funds General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds are funds set aside by the Trustees from the general funds for specific purposes.

Restricted funds are monies, which have legal restrictions on their use where donors have specified the funds can only be spent on certain of the Charity’s activities.

Permanent Endowment funds are funds where the Trustees are required to hold capital, mainly represented by investments, and are not entitled to spend them. Income arising from these funds represents unrestricted income.

k) Liabilities

Liabilities are recognised once there is legal or constructive obligation that commits the Charity to the obligation.

l) Operating Leases

Rentals under operating leases are charged to the Statement of Financial Activities as incurred.

Page 19

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

1. ACCOUNTING POLICIES (continued)

m) Financial Instruments

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

Financial assets measured at fair value comprise of quoted investments.

Financial assets measured at settlement value comprise of cash, trade debtors, and other debtors.

Financial liabilities measured at settlement value comprise of trade creditors, sundry creditors and accruals.

i) Useful economic lives of tangible assets

The annual depreciation charges for the tangible assets are sensitive to changes in the estimate 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 economic utilisation and the physical condition of the assets. See note 11 for the carrying amount of tangible assets and note 1 d) above for the useful lives for each class of asset.

o) Taxation

As a charity, the organisation is exempt from UK corporation tax to the extent that its income is applied to its charitable objects. No liability arose in the period.

2. DONATIONS AND LEGACIES

Members subscriptions
Grants received
Donations incl Gift Aid
Legacies		 2020
General
£
146,708
-
5,470
-
152,178		 2020
Designated
£
-
-
-
-
-		 2020
Restricted
£
240
31,000
65,524
-
96,764		 2020
Endowment
£
-
-
-
-
-		 2020
Total
£
146,948
31,000
70,994
-
248,942		 2019
Total
£
148,485
-
60,823
78,022
287,330

3. CHARITABLE ACTIVITIES

Publication sales
Event fees
Management services		 2020
General
£
-
1,000
-
1,000		 2020
Designated
£
3,938
-
-
3,938		 2020
Restricted
£
30
1,400
2,981
4,411		 2020
Endowment
£
-
-
-
-		 2020
Total
£
3,968
2,400
2,981
9,349		 2019
Total
£
9,992
8,815
7,329
26,136

Page 20

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

4. INVESTMENTS

Rental income
Investment income
Interest		 2020
General
£
346,956
27,531
37
374,524		 2020
Designated
£
-
3,391
-
3,391		 2020
Restricted
£
-
1,554
35
1,589		 2020
Endowment
£
-
674
-
674		 2020
Total
£
346,956
33,150
72
380,178		 2019
Total
£
351,322
78,317
167
429,806

Rental income is received in respect of the CTBI proportion of Inter Church House. Investment income is mainly derived from return on the investment portfolio which is managed on behalf of CTBI on a discretionary basis.

5. CHARITABLE ACTIVITIES

Ecumenical programmes
Resources
Grant making		 2020
General
£
398,486
175,113
2,530
576,129		 2020
Designated
£
20,750
9,248
-
29,998		 2020
Restricted
£
90,141
-
34,438
124,579		 2020
Endowment
£
-
-
-
-		 2020
Total
£
509,377
184,361
36,968
730,706		 2019
Total
£
547,309
160,155
27,398
734,862

6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Alloc-
ation
Staff costs
1
Meetings and
travel costs
2
Office costs
2
Depreciation
2
Independent
examiner’s fees
3
Other costs
2
Publication costs
3
Grants (note 8)
3
Governance
4
Support costs
4
Total 2020
Total 2019		 Ecumen-
ical prog-
rammes
£
216,148
12,548
18,039
-
-
27,854
-
109,642
13,918
111,228
509,377
547,309		 Resources
£
83,711
5,551
12,177
-
-
4,137
916
-
8,660
69,209
184,361
160,155		 Grant
making
£
582
470
38
-
-
29
-
33,995
206
1,648
36,968
27,398		 Govern-
ance
£
13,395
4,259
865
-
3,300
965
-
-
(22,784)
-
-
-		 Support
£
85,949
329
74,563
3,323
-
17,921
-
-
-
(182,085)
-
-		 2020
Total
£
399,785
23,157
105,682
3,323
3,300
50,906
916
143,637
-
-
730,706
734,862		 2019
Total
£
303,083
87,355
98,476
2,912
3,300
62,273
2,463
175,000
-
-
734,862

Basis of allocation:

  1. Staff costs have been allocated between charitable activities based on time spent weighted by the salary cost of each member of staff.

  2. Other costs have been allocated based on staff costs.

  3. Direct costs have been charged appropriately.

  4. Governance and support costs have been re-allocated on the basis of staff time.

Page 21

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

7. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL

Wages and salaries net of statutory payments reimbursed
Redundancy costs
Social security costs
Pension costs
Adjustment to pension deficit provision		 2020
£
318,173
15,477
30,730
32,347
3,058
399,785		 2019
£
306,805
-
31,103
32,202
(67,027)
303,083

No employees received remuneration greater than £60,000 in either accounting period.

No Trustees received remuneration for their services as Trustees ( 2019: Nil ) in the year, nor for any other services provided ( 2019: nil ). During the year 7 ( 2019: 10 ) Trustees received meeting expenses to cover travelling costs and call charges totalling £1,543 ( 2019: £4,811 ).

Total remuneration paid to key management personnel during the year, including employer’s NIC and pension contributions, amounted to £138,856 ( 2019: £133,242 ). Key management personnel are the General Secretary and Assistant General Secretary.

General Secretary and Assistant General Secretary.
2020 2019
The average monthly number of employees during the year was: No. No.
Total on a headcount basis, including part time employees 7 7
Full time equivalent 6.7 6.7

8. GRANTS DISBURSED DURING THE YEAR

Analysis of grants
Grants to organisations
Number
£
Student grants
-
-
International grants
2
58,000
Ecumenical grants
3
51,642
Total 2020
5
109,642
Total 2019
5
148,324
Details of grants made during the year:
Charitable Activity
Grants to individuals
Grant-making
Grants to organisations
Ecumenical programmes
Direct grant expenditure
Administration of Grants
Grant-making
Allocation of support & governance costs
Grant-making
Total Grant making
During the year, the following institutional grants were made:
Recipient
Fund
NCCSL
General Fund
Synergy Network
General Fund
Cytûn
Ecumenical Fund
Himalayan Foundation Nepal
Christians Abroad
Christians Abroad CIO
Christians Abroad
Total		 Grants to individuals
Number
£
35
33,395
-
-
1
600
36
33,995
28
26,676
2020
2019
£
£
33,995
26,676
109,642
148,324
143,637
175,000
1,119
122
1,854
600
146,610
175,722
£
15,000
7,249
20,750
43,000
23,643
109,642		 Grants to individuals
Number
£
35
33,395
-
-
1
600
36
33,995
28
26,676
2020
2019
£
£
33,995
26,676
109,642
148,324
143,637
175,000
1,119
122
1,854
600
146,610
175,722
£
15,000
7,249
20,750
43,000
23,643
109,642
33,995
26,676
2019
£
26,676
148,324
175,000
122
600
175,722

Page 22

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging independent examiner’s fees for independent examination of £3,300 ( 2019: £3,300 ), depreciation of £3,323 ( 2019: £2,912 ) and operating lease payments of £33,000 ( 2019: £30,750 ).

10. STATEMENT OF FINANCIAL ACTIVITIES - COMPARATIVE FIGURES FOR PRIOR YEAR

The comparative figures for the Statement of Financial Activities, for the year ended 31 December 2019, are shown below:

INCOME FROM:
Donations and legacies
Charitable activities
Investments
Total income
EXPENDITURE ON:
Raising Funds
Charitable activities
Total expenditure
Net income / (expenditure)
before gains on investments
Net gains on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of Funds
Total Funds brought forward
Total Funds carried forward		 Unrestricted funds
General
Designated
Fund
Funds
£
£
148,154
-
7,855
9,992
418,887
8,868
574,896
18,860
9,237
1,215
543,579
99,331
552,816
100,546
22,080
(81,686)
29,523
3,884
51,603
(77,802)
9,883
(8,508)
61,486
(86,310)
1,005,114
1,124,418
1,066,600
1,038,108		 Restricted
Funds
£
139,176
8,289
458
147,923
61
91,952
92,013
55,910
197
56,107
-
56,107
117,189
173,296		 Endowment
Funds
£
-
-
1,593
1,593
218
-
218
1,375
698
2,073
(1,375)
698
53,654
54,352		 Total
2019
£
287,330
26,136
429,806
743,272
10,731
734,862
745,593
(2,321)
34,302
31,981
-
31,981
2,300,375
2,332,356

Page 23

Year Ended 31 December 2020

Churches Together in Britain and Ireland Notes to the Financial Statements

11. FIXED ASSETS

IXED ASSETS
Cost
At 1 January 2020
Additions
Disposals
31 December 2020
Accumulated depreciation
At 1 January 2020
Depreciation charge for the year
31 December 2020
Net book values
31 December 2020
31 December 2019		 Freehold
Property
£
150,000
-
(119,100)
30,900
-
-
-
30,900
150,000		 Furniture,
IT and office
equipment
£
23,063
1,284
-
24,347
19,366
3,323
22,689
1,658
3,697		 Total
£
173,063
1,284
(119,100)
55,247
19,366
3,323
22,689
32,558
153,697

Page 24

Churches Together in Britain and Ireland Notes to the Financial Statements Year Ended 31 December 2020

12. INVESTMENTS

12 (a) Quoted Investments

All investments are under a discretionary portfolio which is managed by Investec Wealth & Investment Limited.

Market value 1 January
Cost of acquisitions
Proceeds from disposals
Movement in cash held
Net investment gains
Market value 31 December
Historic cost 31 December
UK Fixed Interest
UK Equities & Funds
UK Property
Overseas Fixed Interest
Overseas Equities & Funds
Assets & Commodities
Sterling Deposits
Total
Programme Related Investment
Interest in Inter-Church House (Note 1e)		 2020
Market
Value
Cost
£
£
122,240
117,374
533,129
525,693
89,818
90,027
66,023
64,048
748,474
636,030
175,939
161,524
24,813
24,813
1,760,436
1,619,509		 2020
2019
£
£
1,895,544
1,962,341
500,187
1,468,521
(622,469)
(1,629,675)
(37,778)
60,055
24,952
34,302
1,760,436
1,895,544
1,619,509
1,795,839
2019
Market
value
Cost
£
£
99,913
98,079
749,127
695,185
56,094
52,922
65,556
64,306
740,399
709,126
121,864
113,630
62,591
62,591
1,895,544
1,795,839
2020
2019
£
£
526,160
526,160		 2019
£
1,962,341
1,468,521
(1,629,675)
60,055
34,302		 2019
£
1,962,341
1,468,521
(1,629,675)
60,055
34,302
1,895,544
1,795,839
1,795,839
2019
£
526,160

12 (b) Programme Related Investment

CTBI has the right to appoint four out of the ten Trustees to the British and Irish Churches Trust Limited (BICT), a charitable company limited by guarantee with company number 00472409. The objects of BICT are to act as custodian trustee for Churches Together in Britain and Ireland and Christian Aid in relation to the above property.

Page 25

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

13. DEBTORS

EBTORS
Trade debtors
Other debtors
Prepayments		 2020
£
6,959
14,927
4,207
26,093		 2019
£
7,973
16,198
29,699
53,870

14. CREDITORS: amounts falling due within one year

Trade creditors
Taxation and social security
Pensions
Other creditors
Accruals
CREDITORS: amounts falling due in more than one year
Provision for pension deficit funding obligation (see note 17)		 2020
£
13,426
7,975
17,146
3,517
23,915
65,979
2020
£
191,631		 2019
£
46,512
9,375
8,160
3,447
30,010
97,504
2019
£
230,000

15. CREDITORS: amounts falling due in more than one year

16. FINANCIAL INSTRUMENTS
The charity has financial assets and financial liabilities in the following categories:
2020 2019
£ £
Financial assets
Quoted investments measured at fair value (note 12a) 1,735,623 1,832,953

Page 26

Churches Together in Britain and Ireland Notes to the Financial Statements Year Ended 31 December 2020

17. PENSION OBLIGATIONS

Employees of CTBI are entitled to membership of TPT Retirement Solutions Growth Plan (“the Plan”). This is a multi-employer pension plan which in most respects is a money purchase arrangement, although it does include certain guarantee elements as described below.

Contributions paid into the Plan up to and including September 2001 (Series 1 and Series 2) were converted to defined amounts of pension payable from normal retirement dates. From October 2001 contributions were invested in personal funds which have a capital guarantee and which are converted to pension on retirement, either within the Plan or by the purchase of an annuity.

The rules of the Plan give the Trustee the power to require employers to pay additional contributions in order to ensure that the statutory funding objective under the Pensions Act 2004 is met. The statutory funding objective is that a pension scheme should have sufficient assets to meet its past service liabilities, known as Technical Provisions.

A full actuarial valuation for the scheme was carried out at 30 September 2017. This valuation showed total scheme assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme for the period 1 April 2019 to 31 January 2025. The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

During the year, CTBI paid deficit contributions required by the Trustee amounting to £43,757 ( 2019: £43,973 ). From 1 April 2020 to 31 January 2025, the additional contributions will be £44,078 per annum (payable monthly and increasing by 3% each on 1st April).

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using an appropriate discount rate of 0.27% ( 2019: 1.13% ). The unwinding of the discount rate is recognised as a finance cost.

Provision as at 1 January
Unwinding of the discount factor
Deficit contributions paid
Re-measurements – impact of any change in assumptions
Re-measurements – amendments to the contribution schedule
Provision as at 31 December		 2020
£
230,000
2,330
(43,757)
3,058
-
191,631		 2019
£
337,000
4,000
(43,973)
4,973
(72,000)
230,000

Page 27

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

18. ANALYSIS OF CHARITABLE FUNDS

General Fund
Retained Funds
Designated Funds
Ecumenical Fund
Redevelopment Fund
Publications Fund
Property Fund
Total Designated Funds
Total Unrestricted Funds
Restricted Funds
International and Mission
Youth Work and Training
Children’s Ministry Network (CMN)
International Students Hardship
Fund
Climate Sunday
Christians Abroad
Pauline Webb Fund
Total Restricted Funds
Permanent Endowment Funds
Benifold Trust
TOTAL		 Balance at
1 Jan 2020
£
1,066,600
257,696
9,712
44,540
726,160
1,038,108
2,104,708
5,636
12,039
13,192
47,720
-
15,559
79,150
173,296
54,352
2,332,356		 Income Expenditure
£
£
572,298
(588,636)
3,391
(22,290)
-
-
3,938
(9,248)
-
-
7,329
(31,538)
579,627
(620,174)
-
-
-
(2,520)
1,705
(96)
5,793
(33,924)
34,600
(12,664)
59,302
(74,861)
1,364
(1,220)
102,764
(125,285)
674
(306)
683,065
(745,765)		 Investment
Gains
£
20,722
2,553
-
-
-
2,553
23,275
-
-
-
143
-
-
1,027
1,170
507
24,952		 Transfers
Between
Funds
£
-
-
-
368
-
368
368
-
-
-
-
-
-
-
-
(368)
-		 Balance at
31 Dec
2020
£
1,070,984
241,350
9,712
39,598
726,160
1,016,820
2,087,804
5,636
9,519
14,801
19,732
21,936
-
80,321
151,945
54,859
2,294,608

During the year, the following transfers between funds have been made:

Notes on funds are on page 31 as part of note 20.

Page 28

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

19. ANALYSIS OF CHARITABLE FUNDS – COMPARATIVE FIGURES FOR PRIOR YEAR

General Fund
Retained Funds
Designated Funds
Ecumenical Fund
Redevelopment Fund
Publications Fund
Property Fund
Total Designated Funds
Total Unrestricted Funds
Restricted Funds
International and Mission
Youth Work and Training
Children’s Ministry Network (CMN)
International Students Hardship
Fund
Christians Abroad
Pauline Webb Fund
Total Restricted Funds
Permanent Endowment Funds
Benifold Trust
TOTAL		 Balance at
1 Jan 2019
£
1,005,114
343,027
9,712
45,519
726,160
1,124,418
2,129,532
5,636
19,599
12,702
73,934
4,190
1,128
117,189
53,654
2,300,375		 Income Expenditure
£
£
574,896
(552,816)
8,868
(98,083)
-
-
9,992
(2,463)
-
-
18,860
(100,546)
593,756
(653,362)
-
-
-
(7,560)
4,330
(3,840)
448
(26,859)
65,123
(53,754)
78,022
-
147,923
(92,013)
1,593
(218)
743,272
(745,593)		 Investment
Gains
£
29,523
3,884
-
-
-
3,884
334074
-
-
-
197
-
-
197
698
34,302		 Transfers
Between
Funds
£
9,883
-
-
(8,508)
-
(8,508)
1,375
-
-
-
-
-
-
-
(1,375)
-		 Balance at
31 Dec
2019
£
1,066,600
257,696
9,712
44,540
726,160
1,038,108
2,104,708
5,636
12,039
13,192
47,720
15,559
79,150
173,296
54,352
2,332,356

Notes on funds are on page 31 as part of note 20.

Page 29

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS

General Fund
Retained Funds
Designated Funds
Ecumenical support
Redevelopment fund
Publications fund
Property Fund
Restricted Funds
International and mission
Youth work and training
Children’s Ministry Network (CMN)
International Students Hardship
Fund
Climate Sunday Fund
Christians Abroad
Pauline Webb Fund
Permanent Endowed Funds
Benifold Trust
TOTAL AT 31 DECEMBER 2020		 Tangible
Fixed
Assets
£
32,558
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,558		 Invest-
ments
£
1,459,722
173,153
-
-
-
173,153
-
-
-
10,913
-
-
77,875
88,788
38,773
1,760,436		 Inter-
Church
House
£
-
-
-
-
526,160
526,160
-
-
-
-
-
-
-
-
-
526,160		 Net
Current
(Liabilities)
£
(229,665)
68,197
9,712
39,598
200,000
317,507
5,636
9,519
14,801
8,819
21,936
-
2,446
63,157
16,086
167,085		 Long term
(Liabilities)
£
(191,631)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(191,631)		 Total
2020
£
1,070,984
241,350
9,712
39,598
726,160
1,016,820
5,636
9,519
14,801
19,732
21,936
-
80,321
151,945
54,859
2,294,608

Notes on funds are on page 31.

Page 30

Churches Together in Britain and Ireland Notes to the Financial Statements Year Ended 31 December 2020

20. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)

Designated Funds

The Designated Funds represent amounts, which have been set aside at the discretion of the Trustees. These Designated Funds are to provide for expenditure as detailed below:

Restricted Funds

The Restricted Funds are funds which have been donated with specific restrictions imposed on their use. The funds included within this heading are:

Permanent Endowed Funds

Page 31

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS – COMPARATIVE FIGURES FOR PRIOR YEAR

General Fund
Retained Funds
Designated Funds
Ecumenical support
Redevelopment fund
Publications fund
Property Fund
Restricted Funds
International and mission
Youth work and training
Children’s Ministry Network (CMN)
International Students Hardship
Fund
Christians Abroad
Pauline Webb Fund
Permanent Endowed Funds
Benifold Trust
TOTAL AT 31 DECEMBER 2019		 Tangible
Fixed
Assets
£
153,697
-
-
-
-
-
-
-
-
-
-
-
-
-
153,697		 Invest-
ments
£
1,574,228
193,895
-
-
-
193,895
-
-
-
10,850
-
78,022
88,872
38,549
1,895,544		 Inter-
Church
House
£
-
-
-
-
526,160
526,160
-
-
-
-
-
-
-
-
526,160		 Net
Current
Assets
£
(431,325)
63,801
9,712
44,540
200,000
318,053
5,636
12,039
13,192
36,870
15,559
1,128
84,424
15,803
(13,045)		 Long term
Liabilities
£
(230,000)
-
-
-
-
-
-
-
-
-
-
-
-
-
(230,000)		 Total
2019
£
1,066,600
257,696
9,712
44,540
726,160
1,038,108
5,636
12,039
13,192
47,720
15,559
79,150
173,296
54,352
2,332,356

Notes on funds are on page 31 as part of note 20.

Page 32

Churches Together in Britain and Ireland Notes to the Financial Statements

Year Ended 31 December 2020

22. CASH FLOWS FROM OPERATING ACTIVITIES

Net (expenditure) / income for the year
Adjustments for:
Depreciation charges
(Gains) on investments
(Profit) on sale of fixed assets
Dividends, interest and rents from investments
Decrease / (increase) in debtors
(Decrease) / increase in creditors under one year
(Decrease) in creditors over one year
Net cash (used in) operating activities		 2020
£
(37,748)
3,323
(24,952)
(44,596)
(380,178)
27,777
(31,525)
(38,369)
(488,520)
(526,268)		 2019
£
31,981
2,912
(34,302)
-
(429,806)
(31,281)
13,956
(107,000)
(585,521)
(553,540)

23. OPERATING LEASE COMMITMENTS

At 31 December 2020 Churches Together in Britain and Ireland had total future minimum payments in respect of its operating lease on premises as follows:

On leases which expire:
In less than one year
Total future minimum lease commitment		 Leased Building
2020
2019
£
£
24,750
24,750
24,750
24,750		 Leased Building
2020
2019
£
£
24,750
24,750
24,750
24,750
24,750

24. RELATED PARTY TRANSACTIONS

There are no related party transactions other than those disclosed elsewhere in these financial statements.

Page 33

Churches Together in Britain and Ireland Reference and Administrative Details

Directors and Trustees

The Trustees, who are also directors of the company, who were serving at the date of signing these accounts were:

Revd Graham Sparkes Moderator, appointed 23 September 2020 Revd T Alan Anderson[†] Mr Richard Bradbury Appointed 18 March 2020 Mr Patrick Coyle Rt Revd Andrew Forster Appointed 23 September 2020 Revd Dr Ruth Gouldbourne Dr Elizabeth Harris Bishop Paul Hendricks Ms Gillian Kingston Ms Rachel Lampard The Venerable Dr Rosemarie Mallett Appointed 23 September 2020 Revd Alison McDonald Revd Sarah Moore Rt Revd Dr John Perumbalath Appointed 23 September 2020 Lt-Col Jonathan Roberts Revd Nicholas Rothon[†] Treasurer Ms Patricia White

The following also served as Trustees during the year:

HE Archbishop Angaelos Moderator, resigned 23 September 2020 Rt Revd David Hamid Resigned 23 September 2020 Rt Revd John McDowell Resigned 23 September 2020 Janet Scott Resigned 18 March 2020

Those who were not Trustees but attended the Board of Trustees by invitation were:

Mr Bob Fyffe[†] General Secretary, Churches Together In Britain and Ireland (CTBI) Mr Michael McClure[†] Company Secretary & Business Manager Dr Nicola Brady General Secretary, Irish Council of Churches (ICC) Revd Paul Goodliff General Secretary, Churches Together In England (CTE) Revd Canon Aled Edwards OBE Chief Executive, Churches Together in Wales (CYTÛN) Revd Ian Boa Acting General Secretary, Action of Churches Together in Scotland (ACTS) (until 31 December 2020) Revd Peter Colwell Assistant General Secretary, Director of Programmes, CTBI Ms Christine Elliott Director of International Programmes, CTBI (until 31 May 2020) Richard Reddie Director of Justice & Inclusion Programme

Page 34

Churches Together in Britain and Ireland Reference and Administrative Details

Principal address and registered office

Inter Church House 35 Lower Marsh London SE1 7RL

Company registration number 05661787 (England & Wales)
Charity registration number 1113299
Independent Examiner Tara Westcott FCCA
Crowe U.K. LLP
Fourth Floor
St James House
St James’ Square
Cheltenham
Gloucestershire
GL50 3PR
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
HSBC Bank plc
38 Canada Place
Canary Wharf
London
E14 5AH
Legal advisers Stone King LLP
13 Queen Square
Bath
BA1 2HJ
Ashton Graham Solicitors
Waterfront House
Wherry Quay
Ipswich
IP4 1AS
Investment Advisers Investec Wealth & Investment Ltd
30 Gresham Street
London
EC2V 7QN

Page 35