i i The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Registered Charity Number: 1127816 Annual Report and Financial Statements of the Parochial Church Council for the year ended 31st December 2021 ## Wenn Townsend Chartered Accountants Oxford i The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford : i | i : : i ## Annual Report for the year ending 31st December 2021 This report is prepared in accordance with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland published in October 2019, and covers the activities of the Parochial Church Council during the year ended 31st December 2021. In accordance with the Charities Act 2011 the PCC is registered as a charity with the Charity Commission (charity number 1127816). St Ebbe’s Church is situated in Pennyfarthing Place, off St Ebbe’s Street, in central Oxford. We also meet regularly at 30-34 Lime Walk, Headington. Incumbent: Revd Canon Vaughan Roberts The Rectory 2 Roger Bacon Lane Oxford OX1 10E Banks: Barclays Bank Pic Oxford City Centre PO Box 333 Oxford OX1 3HS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ Statutory Auditor: Wenn Townsend 30 St Giles Oxford OX71 3LE Minister (Operations): Revd Tim Dossor 2 Roger Bacon Lane Oxford OX1 1QE Headington Administrator: Jill Gascoigne 21 Latimer Road Headington Oxford OX3 7PG Grace Church Cowley Administrator: Pascaline Levillain Grace Church Cowley Oxford Road Oxford OX4 2ES Membership During the year the following clergy served as members of the PCC: Incumbent (Rector) Revd Canon Vaughan Roberts - Chairman Minister (9:45am Congregation Leader) Revd Peter Wilkinson Curate & Minister (6:30pm Congregation Leader and Postgraduate Students) Revd Glenn Nesbitt (from July 2021) Curate & Minister (Undergraduate Students) Revd Joel Knight (to July 2021) Senior Minister (St Ebbe’s, Headington) Revd Al Horn (ordained deacon on 4" July 2021) Minister (Operations) Revd Tim Dossor Leader, Grace Church, Cowley Revd Ben Vane The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford : | | | : i | i i i i : i : i i : i : : i ; i i : ## Annual Report for the year ending 31st December 2021 (continued) Churchwardens: Stephen Smith (to April 2021) Helen Lamb (from April 2021) Alistair Cory Representatives on the Deanery Synod: Julia Cameron Jeff Hunter Simon Neal (to April 2021) Georgina Prineppi (from July to December 2021) Rahul Ravindran Penelope Wearn Susan Berry (to April 2021) Sally Cooper (from April 2021) Trevor Rayment Elected members of the PCC: Susan Berry — PCC Secretary (to April 2021) Sally Cooper — PCC Secretary (from April 2021) Sarah Bond Peter Haynes Matthew Davidson Robert Horner Helen Lamb (to April 2021) Trevor Rayment - Hon. Treasurer Suzanne Wilson-Higgins Jonathan Nicholas David Parker Richard Brunt (from April 2021) The Rector, elected members of the PCC, the Churchwardens and the Representatives on the Deanery Synod are all Trustees of the charity for the purposes of charity law. The Minister (Women & Parish), Annabel Heywood, also attended PCC as a staff member. ## Aim of the Church The aim of the Church is to see God glorified as we engage in three tasks: reaching out to non-believers, building up Christians and sending out Christians to serve. - Structure, Governance and Management The PCC operates through a number of Committees, which meet between full meetings of the PCC: e« The Standing Committee, made up of the Rector, Churchwardens, Secretary, Treasurer and Minister (Operations), has the power to transact some of the business of the PCC between meetings and also acts as a Standing Committee of the Central Committee. - ¢ The Central Committee has delegated responsibility for the work at St Ebbe’s Central. e The Headington Committee has delegated responsibility for the work at St Ebbe’s Headington (St Ebbe’s Headington also has its own Headington Standing Committee, Pastoral Support Group and Buildings Committee). - * The Grace Church Cowley Committee has delegated responsibility for the work at Grace Church Cowley, which also operates under a Bishop’s Mission Order (BMO). - « The Overseas Partners Support Group (and the equivalent Reaching the Nations Group at Headington) and the UK Mission Group oversee selection, sending and support of mission partners and present proposals to the PCC concerning mission work. - « The Finance Committee supports the Treasurer in preparing budgets and financial forecasting to aid the PCC in its decision-making. - e The Pastoral Care Committee aims to ensure there is support and care for those who need it within the church family and considers ways to improve our pastoral care across the church. - « The Governance Committee, which audits, advises and makes recommendations on the governance of St Ebbe's. - e An Evangelism Committee meets to encourage and support evangelism. « AHardship Fund Committee oversees our support for those in our church and area in need. e The Buildings Committee has responsibility for the fabric of our current buildings. **----- Start of picture text -----**
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| ' i : i i f ; i i : ; 4 t ## The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford ## Annual Report for the year ending 31st December 2021 (continued) The PCC (Powers) Measure 1956, requires the PCC to co-operate with the minister in promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. ## Induction and Training of PCC Members New members are briefed on their legal obligations under church and charity law, the committee and decisionmaking processes, the plans of the church and recent financial performance. They are encouraged to receive appropriate training to facilitate the undertaking of their role. It is mandated that all PCC members receive training in Safeguarding. ## Objectives and activities for the public benefit The objective of the charity is to promote in the ecclesiastical parish the whole mission of the church. This is primarily done through meeting for teaching of the Bible, praise and prayer in 8 congregations (4 at Central, 3 in Headington, 1 in Cowley). The church also provides for work with children and young people on Sundays, at a range of midweek groups, and in school holidays. The church supports the mission of the church through prayer and financial support of partners overseas and in the UK. The church also supports education through hosting the South Centrai Ministry Training Course and supporting trainees at theological college. The church hosts a number of weddings, baptisms and funerals each year. The church aims to see Christians built up for service through midweek Fellowship Groups (Home Groups in Headington, Missional Communities at Cowley), Roots for those in their 20s and 30s, Focus and iFocus (Explore at Headington) for domestic and international students, Thesis for post-graduate students, Men's and Women's Bible Studies, and toddler groups. The church also aims to reach out to others through a variety of evangelistic events as well as courses for those investigating the Christian faith (e.g. Christianity Explored), and Open Door, a homeless outreach. The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. ## Grant-making policies Annual budgets for UK mission and International mission are set at 6% and 19% respectively of the previous year's regular giving. The decision making on specific grants is made by the Overseas Partners Support Group (OPSG) and UK Mission Group (UKMG) (for Central and Cowley) and, Reaching the Nations (RTN) at Headington. The congregations are occasionally invited by the PCC to contribute to specific appeals on behalf of designated charities. in 2021, £43,345 was collected for our Harvest Offerings (2020: £37,514) in order to support the Hope Trust and the E3 Initiative. ## Use of volunteers The PCC appreciates that the work of St Ebbe’s is hugely dependent upon the contribution of volunteers and wishes to record its thanks to all who offer their time and talents. Volunteers working with children and vulnerable adults are subject to Safer Recruiting (including DBS checks) in line with St Ebbe’s and the Church of England Safeguarding Policy. St Ebbe's has a Safeguarding Officer for each base — Central: Alyson Willis; Headington: Weena West; Cowley: Kendra May. The safequarding officers are supported by staff members: lan Fry (Central), Paul Bolton (Headington) and Ben Vane (Cowley) Safeguarding is a regular consideration of the PCC and the Safeguarding Policy was updated during the year. ## Achievements and Performance General Review of the Year The PCC discussed and changed the pattern of meetings through the year; it now meets three times a year, and the local Committees meet in between these meetings. The main topics considered during the year were: - e Managing the Covid pandemic and its effect on church life ¢ St Ebbe's Headington's relationship to All Saint's Highfield (the Headington parish in which it is situated). « Approving updates to its policies on Safeguarding, Health & Safety, Data Protection and Finance. e Anlnternal Review, led by the Churchwardens and another lay member considering the recommendations of the thirtyone:eight ‘Independent lessons learnt review concerning Jonathan Fletcher and Emmanuel Church Wimbledon’. A thorough assessment of St Ebbe’s governance, safeguarding and policies was made. The review welcomed input from anyone in the church or beyond, in addition to working through the specific lessons that the thirtyone:eight review laid out for the wider constituency and other churches. The Parochial Church Council of the Ecclesiastical Parish : of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford ; : is : : i ‘ ' i ‘ : ' i i i ; : : E Annual Report for the year ending 31st December 2021 (continued) - e Lessons learned relating to safeguarding and governance were taken up immediately and the process of implementation continues. Part 1 of The Internal Review (lessons from the thirtyone:eight report) will be completed and reported to the PCC in 2022. Part 2 reviewing the culture(s) of St Ebbe’s will continue in 2022. - e A Quinquennial Architect, Christian Randall of Conservation Architects Ltd, was appointed and surveyed the parish church. - * The PCC was also concerned with staff appointments, finance, Safeguarding appointments and Church of England matters, and received regular reports from sub-committees and congregation leaders. Staff changes during the year included Leon Catallo leaving St Ebbe’s, Headington after being appointed as the interim Priest in Charge All Saint's, Highfield, the appointment of an Administrator and Women's Worker at Grace Church Cowley, Pascaline Levillain (who was previously an Apprentice), Lucy Downer as the Associate Minister (Music) at Central, and Sarah Wierszycki as Operations Manager at Central, from April to August. in August the title ‘Apprentice’ was changed to ‘Ministry Assistant’ and as usual, we had a change during the summer, with 5 staying for a second year and 7 joining us. One of those staying on, worked in a new partnership with St Laurence, Appleton. Those leaving us have moved to a variety of roles and ministries. Sunday is the main opportunity for us to meet together — during term time we hold eight services, four at Central, three at St Ebbe’s Headington and one at Grace Church Cowley. Our close friendship with OAK (Oxford Asian Koinonia) has come to an end, but developed into an overseas partnership, supporting Han and Dawn Hwang in a continued ministry in South Korea. Through the year, Government rules around meeting for worship have changed and we sought to provide a safe environment where as many as possible can gather on Sundays and for midweek groups. When not allowed to sing as a congregation in the building, we took the opportunity to sing together outside in the church garden after the service. Due to Covid some didn't feel able to attend church physically, but joined online through our livestream on the St Ebbe’s Central, Headington and Grace Church Cowley YouTube Channels. Unchanged has been a desire to sit under God's word and alongside series from books of the Bible, at Central we addressed a topical series, ‘Power and Prejudice’ looking at issues of the day relating to power, abuse, race and diversity. When allowed by law, our buildings are very well used during the week, with an activity nearly every day, including hosting the South Central Gospel Partnership Ministry Training Course on Tuesdays, Mum’s & Toddlers Groups and Thursday Afternoon Fellowship. Students meet during the week for Focus, iFocus/Explore (internationals) and Conversation (language students), and our weekly postgraduate ministry (Thesis). Week-night clubs are also held for children and teenagers. Many adults are members of regular Fellowship Groups; for 20s and 30s, Roots meets each week for Bible study, prayer and encouragement Our annual children’s Holiday Bible Clubs met during the year. Our ministry to children, youth and their families has continued over the year. The youth groups have continued to grow, with greater freedom to meet indoors as Covid restrictions eased. At Central there have been fewer younger children in Sunday groups, after some went with the plant to Cowley in 2019. But there has been gradual growth as some who connected and joined St Ebbe’s online were able to attend in person. Weekly videos specifically for families and younger children, ‘Sunday Stories for Families’ (Central), ‘Sunday Club’ (Headington), with associated activities and craft continued to be made available on our YouTube channels through until July 2021. Church family and overseas partners engaged and were supported through this ministry. There has been good growth at Headington in both the Friday night “Heads Up” group for 11-18s and the Explorers’ Club. At Cowley the main children’s groups are focussed in the younger ages. We are so very grateful for all the leaders who care for and teach children in these ministries. Week by week we continue to seek to grow in the knowledge of God, to increase our depth of fellowship and unity and to proclaim the Gospel. We have held a variety of events throughout the year to enable people to hear the good news of the gospel, some tied to particular ministry areas, and some for the whole church family. ## Church Attendance At the time of the Annual Parochial Church Meeting in April 2021 there were 433 (2020: 489) on the church electoral roll. In 2021 our total weekly Sunday attendance was significantly down due to covid restrictions and caution about meeting others in large groups. Service numbers were between 50-100 in person at the start of 2021 with between 100 and 300 watching live online, varying between services. Towards the end of 2021 service numbers had risen to 50-230 in person and 30-150 watching live online. The majority of regular attendees are members of smail groups to heip them study the Bible, encourage each other, and grow as disciples of Jesus Christ. The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | i i \ i ‘ i : i | ; ; : £ ; i : é i i ## Annual Report for the year ending 31st December 2021 (continued) ## Fabric Report At Centrai, the work to improve the west end rainwater drainage was completed early in the year. It became evident that rainwater was not the source of damp causing the floorboards at the west end to warp. A commissioned report led to installation of small gratings allowing airflow. Time will allow the floor to settle before being sanded, resealed and some floorboards replaced in 2022. The church garden (deconsecrated churchyard) was re-planted and turfed, which has created an attractive environment for children to play and adults to chat after services, as well as a place for games and socialising midweek. At St Ebbe's Headington the ‘Clubhouse’ (modular building) was refurbished, removing some internal walls and replacing some fixtures and fittings, to create a more pleasant and useful space, most significantly for children’s groups on Sundays. Essential safety-related work to repair a leaking flat roof in the main building, rebuild a collapsed boundary wall in the garden and replace the accessibility ramp to the Clubhouse (and associated outdoor play surface) were identified. It is estimated that Headington will need to spend about £80,000 over the next five years on buildings and infrastructure. ## Financial Review Our God has been very kind to us over recent years, providing just what is needed for his work through St Ebbe's and 2021 was no exception. In 2020, perhaps in response to the Covid Pandemic income was exceptional and running costs were smaller than in previous years. Thus in 2021, our total funds including restricted funds have decreased by £128,743 in the year. Setting aside the depreciation charge of £149,292 from the Building for Growth Project, it can be seen that the accounts are essentially balanced. The Lord has provided and we praise Him! The Headington General Restricted Fund recorded a shortfall of £38,263 (2020: surplus of £64,769). Wondrously the Grace Church Cowley Restricted fund recorded an operational! deficit of just £13,806 before transfers from Central. The vast majority of our income comes from the faithful regular giving of God’s people, and we are once again thankful to our Lord and the generosity of his people for this year’s response. Once Gift Aid is included, in 2021 we received regular gifts of £1,046,327 an overall 2% increase over the previous year. We thank God for the commitment of our regular givers, many for a great number of years and at significant personal cost, and particularly for those who have started to give regularly this past year. Our Gift Days in May and November are significant moments in the year and are necessary to meet the balance of our general expenditure and for specific new expenditure. This year £466,490 was given (2020: £567,894) across our Gift Days for which we are full of thanks and gratitude. Friends of St Ebbe’s Trust (FoSE) has continued to support the student work at St Ebbe’s, and we remain exceedingly grateful to all those former students who support FoSE to enable it to make these donations year by year. There were no legacies in 2021. Total expenditure in 2021 was £1,864,016 (2020: £1,811,882) Compared with previous years there were few items of exceptional expenditure. It is appropriate to remember that our priority is the proclamation of the Good News of Jesus to individuals, and appropriately our greatest costs are to enable people to minister this good news, either directly or indirectly. We are committed to paying 19% of our previous year's regular income as grants to support the work of the Gospel overseas and 6% within the UK. For 2021 a total of £252,586 (2020: £239,409) was given away as grants for this work. We also raise one-off collections for special causes (e.g. Harvest Offerings). The Honorary Treasurer, Trevor Rayment, Tim Wilson (for Headington) and Sarah Bond (for Grace Church Cowley) have guided the PCC throughout the year, supported by our Finance Committee and with regular reports to Standing Committee, each of the local committees and to the PCC. Helen Gerry has managed the finances throughout the year. Day to day financial matters have been handled by Bev Adam for Central and by Rachel Browning at Headington. We are thankful for their care and attention. ## Significant Events We are continually grateful to our Lord for everyone who gives towards the work here, and very especially to those who give regularly and faithfully over many years. Our normal expenditure is relatively predictable and stable from year to year but also significant, and so we remain dependent on renewed generosity of giving each year. i 5 The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford : | ' { i | i : ‘ : : | i i : i ; ' i i i : i . ## Annual Report for the year ending 31st December 2021 (continued) ## Senior Management The PCC aims to align senior staff remuneration with the stipend scales applicable to clergy and other lay workers within Oxford Diocese and updated by them with effect from each April. Senior management, comprising Rector, Congregation Leaders and Minister (Operations) are paid at Incumbent levels, either in total (including housing allowance) or on a net basis where we provide housing (The Rector and Curate are paid a stipend by Oxford Diocese and housing or a housing allowance by PCC). ## Reserves Policy The PCC has a reserves policy that it considers appropriate to the financial risks of the charity, and in accordance with best practice, namely that we should hold reserves in the form of net current assets sufficient to cover the equivalent of at least three months of unavoidable expenditure by the church. In this context “unavoidable” would include building and accommodation-related costs, salaries and payroll expenses, expenditure normally met from grants received and grant commitments to mission partners. In circumstances where the cover might reduce to a minimum of 2.4 months expenditure for planned investment purposes, there should be an achievable recovery plan alongside. For the general unrestricted fund, at the end of 2021 we had £373,199 of net current assets, compared to £387,320 at the end of 2020, and £120,032 above the PCC policy requirement of 3 months’ expenditure. During 2021 the high levels of unrestricted reserves have been kept under review by PCC and the amounts requested at Gift Days have been set so as to bring reserves towards the agreed level. Extra funds raised at Gift Day have been designated by PCC to support the costs of housing for the minister of Grace Church Cowley. ## Principal Risks and Uncertainties As part of its responsibilities the PCC maintains an overview of the various activities of the church to ensure that the best current practice is followed. Policies are in place for the following particular areas of the work of the church: Safeguarding for the Protection of Children and Vulnerable Adults. This is an area where best practice develops year by year. Following Church of England guidance we have updated some of our policies, practices and training (which is now done mostly online from the Church of England Training Portal) during the year and the PCC has continued to give Safeguarding its priority. One of the actions arising from the Internal Review was to seek additional support for safeguarding and we have taken up membership with Christian Safeguarding Services. insurance. The present Parish Plus policy with Ecclesiastical insurance Group pic was established in 2000. The sums therein are increased annually to allow for inflation and were formally reviewed by Ecclesiastical during the year. Headington, Cowley and the Pennyfarthing buildings and other risks are also insured through Ecclesiastical insurance Group ple. Financial policy and procedures covering best practice. Wenn Townsend continue to advise on church finances and oversee the staff payroll. The safety of monies on deposit and when invested, together with any rate of interest where appropriate are monitored by the Finance Manager and the Treasurer who report to the Standing Committee and the PCC regularly. - Health & Safety. The policy was reviewed as part of an annual process. The Fire Safety policies were also reviewed and updated. The PCC considers there are two main areas of uncertainty as it looks forward: * Our regular expenditure is met each year from giving within the year. We are very thankful to everyone who has committed to give regularly, but we remain dependent on that giving to continue our work. We are encouraged to see an increase in giving during the past year but are also aware of increasing expenditure commitments across all bases. Careful management of our income and expenditure will be a priority during this year because current global uncertainties will exert very high financial pressures upon donors and this might affect income. - e Exceptional expenditure: the Building for Growth project was formally completed in 2021 when the last remaining contractual uncertainty concerning the project, damp at the West end of the building has been resolved with the builders and architect.. Exceptional needs for expenditure are not currently foreseen but will be considered by PCC when they emerge. The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | ## Annual Report for the year ending 31st December 2021 (continued) ## Church Assets It has always been the practice for assets to be written off in the year of purchase, and the cost/value of[the][church's] furniture and equipment is not included in these financial statements as a result. The recent work upon the church building itself has been written off as the building is not owned by the PCC. However, work to the Church Centre (including the link area and stairs to the church) and renovation of the Pennyfarthing has been capitalised and depreciated in these accounts over 20 and 5 years respectively, reflecting the expected useful life of these works. ## Plans for Future Periods The church's plan for the future is to continue to pursue its aim “to see God Glorified by engaging in three tasks: reaching out to non-believers, building up Christians and sending out Christians to serve.” Both the need and opportunities are great, and we look to God to direct us and to provide the means to accomplish his will. We have a desire to church plant again and conversations with the Diocese to this end have been initiated, particularly through the Director of New Congregations, Revd Will Donaldson. We pray the Lord will open the right door at the right time. - Responsibilities of the Parochial Church Council (The Council) The PCC is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources ofthe charity for that period. In preparing these financial statements the Council is required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed in the financial statements; and - - prepare the financial statements on a going-concern basis unless it is inappropriate to presume that the church will continue to operate. The Council is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the applicable Charities (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Council is responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## On behalf of the PCC ## Revd Canon Vaughan Roberts Date: mS oe 2022 7 : : i | I | i i : ; ; : | i : | ‘ ; The Parochial Church Council of the Ecclesiastical! Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Independent Auditor’s Report to the Trustees of The Parish of St Ebbe with Holy Trinity and St Peter Le Bailey Opinion We have audited the financial statements of The Parish of St Ebbe with Holy Trinity and St Peter Le Bailey for the year ended 31st December 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31st December 2021, and of its incoming resources and application of resources, for the year then ended; - ¢ have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and *« have been prepared in accordance with the requirements of the Charities Act 2011. 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 the following matters in relation to which which the ISAs (UK) require us to report to you where: you where: where: * the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - * — the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. We have nothing to report in respect of the the following matters in relation to which which the ISAs (UK) require us to report to you where: you where: where: Other information The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 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. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: - ¢ the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or - « sufficient accounting records have not been kept; or « the financial statements are not in agreement with the accounting records; or e we have not received all the information and explanations we require for our audit. i The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | : i i i i i i i i ' { i i ; | i i : { i i : i i ## Independent Auditor’s Report to the Trustees of The Parish of St Ebbe with Holy Trinity and St Peter Le Bailey ## Responsibilities of trustees As explained more fully in the trustees’ responsibilities statement set out on page 7, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal contro! 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so. ## Auditor’s responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. 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 an auditor's report 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: www frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: ‘ - e Enquiry of management, those charged with governance around actual and potential litigation and claims; « — Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations; e Reviewing minutes of meetings of those charged with governance; « Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; - e Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. ## Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Wenn Townsend, Statutory Auditor Oxford P.aA..... 2022 AB... AP Wenn Townsend is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. |||a
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-| ## The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford ## Balance Sheet ## At 31st December 2021 ||Note|||2021||2020| |---|---|---|---|---|---|---| ||||£|£|£|£| |Fixed assets||||||| |Tangible fixed assets|5a|||700,746||850,038| |Investment assets|5b|||290,162||247,992| |||||990,908||1,098,030| |Current assets||||||| |Stock of books||5,950|||7,643|| |Debtors|7|95,141|||170,026|| |Cash at bank and in hand||453,275|||476,254|| |||554,366|||653,923|| |Liabilities: amounts falling||||||| |due within one year|8|(57,134)|||(125,070)|| |Net current assets||||497,232||528,853| |Total assets less current liabilities||||1,488,140||1,626,883| |Provisions for liabilities|9|||(7,000)||(17,000)| |Net assets||||1,481,140||1,609,883| |Funds||||||| |Unrestricted -
general|10|||594,786||608,008| |Restricted|10|||886,354||1,001,875| |||||1,481,140||1,609,883| |Approved bythe ParochialChurchCouncilonai[Merle2022|||2022and|andsignedon|itsbehalfby:|| |The Revd Vaughan Roberts||Trevor Rayment||||| |ChairmanofPCC||TreasurerofPCC||||| The notes on pages 13 to 28 form an integral part of these accounts. 11 | i 5 i ' i ' ## The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford ## Statement of Cash Flows for the year ended 31st December 2021 ||Note|Total|Total| |---|---|---|---| |||Funds|funds| |||2021|2020| |||£|£| |Net cash used by operating activities|12|(25,705)|(127,806)| |Cash flows from investing activities:|||| |Income from investments||7,367|7,843| |Investment additions||(4,641)|-| |Net cash provided by investing activities||2,726|7,843| |Change in cash and cash equivalents in the year||—______
(22,979)|—_———
(119,963)| |Cash and cash equivalents broughtforward||476,254|596,217| |Cashandcashequivalentscarriedforward||453,275|476,254| The notes on pages 13 to 28 form an integral part of these accounts. The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Notes to the Financial Statements for the year ended 31st December 2021 | i ' i - 1 Explanatory notes on the Financial Statements: ## Basis of preparation and assessment of going concern The accounts 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 on October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The accounts are presented in a format compatible with the Church Accounting Regulations 2006. ## The charity constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. The aim of the SOFA is to summarise the church income and expenditure according to activity. The notes to the accounts divide the summarised figures in a variety of ways, which provide additional breakdown of the income and expenditure. The balance sheet represents the assets and liabilities of the PCC at the end of December 2021. However, it does not include the church itself or the rectory, as well as some other church assets purchased in past years. The financial statements for 2021 are subject to full audit because the income for the year exceeds £1,000,000. - The general fund comprises the regular income and the regular and predictable expenditure relating to core church activities. - e Restricted funds are detailed in note 10 to the accounts and have been received for specific purposes. St Ebbe’s Ecclesiastical Charity (Registered Charity No. 265307) is a connected charity of which the PCC is the Managing Trustee. The funds of the charity are invested with CCLA Investment Management Limited, the income from which is applied for the maintenance of the fabric, furniture and services of the church. 2. Accounting policies ## a. Basis of accounting The financial statements have been prepared under the historical cost convention except for the valuation of investment assets and certain freehold property. - b, Funds structure General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted. Designated funds represent funds set aside for a specified purpose by the PCC. Restricted funds are to be used for specific purposes as specified by the donor. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members. The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Notes to the Financial Statements for the year ended 31st December 2021 ; : : i i i : i ; tettteteeeeeeees CONtINUed 2. Accounting policies (continued) c. Income 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. - i) Voluntary income and capital sources Collections are recognised when received by or on behalf of the PCC, as is planned giving. Income tax recoverable on Gift Aid donations is recognised in the year the donation is received. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Sales of books and magazines from the church bookstall are accounted for gross. - ii) Other income Rental income from the letting of church premises is recognised when the rental is due. iti) Income from investments Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year. d. Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31st December 2021. e. 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 settlement will be required and the amount of obligation can be measured reliably. i) Grants Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. - ii) Activities directly relating to the work of the Church The diocesan quota is accounted for when paid. Any parish share unpaid at 31st December 2021 is provided for in these accounts as an operational (though not a legal) liability and is shown asa creditor in the Balance Sheet. - f. Fixed assets i) Consecrated property and movable church furnishings Consecrated and beneficed property of any kind is excluded from the accounts by section 96(2)(a) of the Charities Act 2011. The value of fixed assets other than the Parish Centre and the Pennyfarthing is not included in the balance sheet. No value is placed on moveable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this inalienable property. All expenditure incurred in the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvement is written off as expenditure in the SOFA and separately disclosed. 14 The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | | |i i | ; / | i : : i i i i ## Notes to the Financial Statements for the year ended 31st December 2021 littiterecreeeeeee CONtINUEK f. Fixed assets (continued) ii) Other property Additions to freehold and leasehold property are recognised at cost. Any underlying value before cost of additions is not recognised. ## The property is depreciated over its expected useful life as follows: Freehold property (Parish Centre) — equally over 20 years straight line Leasehold property (The Pennyfarthing) -- equally over 5 years straight line iii) Other fixtures, fittings and office equipment Equipment used within the church premises is written off in the year of purchase. Individual items of equipment with a purchase price of more than £10,000 are written off when the asset is acquired but the purchase is disclosed in the accounts. The church owns equipment used in the church offices and halls which has not been capitalised in the accounts but this is not considered to have a material value. . ## g Investments Investments are valued at fair value at 31st December 2021. h Current assets Amountsdebtors lessowingprovisionto the PCCfor amountsat 31st Decemberthat may prove 2021uncollectible.in respect of fees, rents or other income are shown as bank. Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the i Pensions The Church contributes to the Church of England Funded Pensions Scheme for three employees. This is a defined benefit scheme but the St. Ebbe’s PCC is unable to identify its share of the underlying assets and liabilities - each employer in that scheme pays a common contribution rate. For schemes such as the Church of England Funded Pensions Scheme, FRS 102 requires the St Ebbe’s PCC to account for pension costs on the basis of contributions actually payable to the Scheme in the year and to provide for any deficit arising. Contributions to the Church of England’s Church Workers Pension Builder defined contribution scheme are included in the accounts when payable. j ‘Stock Stock consists of books. Stocks are vaiued at the lower of cost and net realisable value. - k irrecoverable VAT irrecoverable VAT is charged against the expenditure heading for which it was incurred. : 15 The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Notes to the Financial Statements for the year ended 31st December 2021 lettvereserereeereees CONtINUEM 3. Income ## 3a Donations and legacies |3a|Donations and legacies||||| |---|---|---|---|---|---| |||General|||| |||unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| |||||2021|2020| |||£|£|£|£| ||Planned giving:||||| ||Regular giving|644,773|267,386|912,159|826,421| ||Income tax recoverable|110,351|23,817|134,168|200,503| ||Collections|492|283|775|40,231| ||Gift days and donations|171,235|295,255|466,490|567 894| ||Other|-|-|-|36,323| |||926,851|586,741|1,513,592|1,671,372| |3b|Income from church activities||||| ||Student conferences income|9,963|944|10,907|11,253| ||Church weekends|(1,000)|-|(1,000)|-| ||Roots & Thesis weekends|9,053|-|9,053|612| ||Toddler groups|-|4,111|1,111|1,261| ||Other activities (<£3,000 each)|9,154|2,299|11,453|30,823| |||27,170|4,354|31,524|43,949| |3c|Activities for generating funds||||| ||Sales of books and tapes|614|26|640|§,129| ||Catering|8,734|4,216|9,950|9,113| ||Rental income|33,664|12,316|45,980|27,183| ||Miscellaneous income|66,613|22,078|88,691|76,491| |||109,625|35,636|445,261|117,916| |3d|Income from investments||||| ||Dividends/interestreceived|147|7,220|7,367|7,843| ## 3c Activities for generating funds |3d|Income from investments| |---|---| ||Dividends/interestreceived| 16 The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and Si Peter Le Bailey, Oxford | ‘ Notes to the Financial Statements for the year ended 31st December 2021 |Litereeteaererereeeee CONtiNUEd|Litereeteaererereeeee CONtiNUEd||||| |---|---|---|---|---|---| |4,|Expenditure||||| |||General|||| |||unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| |||||2021|2020| |||£|£|£|£| |4a|(i)
Grants||||| ||Missionary and charitable giving:||||| ||World Mission (note 4a(ii))|147,755|47,137|194,892|181,457| ||UK Mission (note 4a(iii))|39,715|17,979|57,694|57,952| ||Other Giving (note 4a(iv))|5,000|73,046|78,046|82,287| |||192,470|138,162|330,632|321,696| |4a|(ii)
World Mission (OPSG and RTN)||||| |||||2021|2020| |||||£|£| ||OMF International (Jones/Harris)|||12,021|9,312| ||Partners in Service (re Delhi Bible Institute)
Individuals|||3,347
170,521|3,500
163,028| ||17 Grants below £2,000 each (2020: 9)|||9,003|5,617| ||Total|||194,892|181,457| |4a|(iii) UK Mission||||| |||||2021|2020| |||||£|£| ||UCCF|||10,000|8,000| ||Grants to institutions|||26,000|23,360| ||Grants to individuals|||9,130|18,260| ||16 Grants below £2,000 each (2020: 13)|||12,564|8,332| ||Total|||57,694|57,952| |4a|__(iv) Other Giving||||| |||||2021|2020| ||Harvest giving|||43,345|37,514| ||Old Schoolhouse Magdalen Road|||5,000|-| ||Rector's Discretionary Fund|||7,381|14,109| ||Hardship Fund|||20,070|14,799| ||Headington Hardship|||2,250|-| ||Other giving|||-|15,865| ||Total|||78,046|82,287| The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Notes to the Financial Statements for the year ended 31st December 2021 i } 3 t i i if i f } £ i i Lieeeeseeeeeeees CONtiNUed 4, Expenditure (continued) |4b|Activities directly relating to the work||||| |---|---|---|---|---|---| ||ofthe church|General||Total|Total| |||Unrestricted|Restricted|funds|funds| |||funds|funds|2021|2020| |||£|£|£|£| ||Pay and accommodation:||||| ||Church, parish and youth ministry|324,731|74,230|398,961|377,042| ||Central student ministry|67,235|93,119|160,354|142,502| ||Headington ministry|-|236,139|236,139|193,196| ||Oak Ministry|-|-|-|5,100| ||Quota|97,436|8,000|105,436|106,102| ||Premises expenses|37,852|15,941|53,793|55,114| ||General repairs and improvements|30,262|29,345|§9,607|49,823| ||Building improvements
Contribution to 81 Marlborough Road|-
-|(5,221)
-|(5,221)
-|14,158
8,500| ||Church activities
Catering|31,926
14,933|12,386
4,293|44,312
19,226|62,329
12,053| ||Book purchases|41,019|-|1,019|1,262| ||Other church costs|16,416|10,056|26,472|17,675| ||Support costs (see note 4e)
Depreciation|241,299
13,742|52,695
135,550|293,994
149,292|298,038
149,292| ||Movement in pension liability|(10,000)|-|(10,000)|(2,000)| |||866,851|666,533|1,533,384|1,490,186| ||Grants paid (see note 4a(i))|192,470|138,162|330,632|321,696| ||Total expenditure|1,059,321|804,695|1,864,016|1,811,882| |||ee|||| i if 18 The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | | i i i i : i ## Notes to the Financial Statements ## for the year ended 31st December 2021 vitteeeeeseeeeeeeees CONtINUEd ## 4. Expenditure (continued) 4c Staff |Staff||| |---|---|---| ||2021|2020| ||£|£| |Salaries|721,151|669,646| |Employer's Ni|66,226|59,194| |Pension
:||| |Pension contributions paid in the year|96,086|91,104| |Pension deficit contribution paid|(11,000)|(10,000)| |Remaining change to pension liability (see note 4d)
Accommodation|1,000
159,971|8,000
153,774| ||1,033,434|971,718| No remuneration was paid or expenses reimbursed to the Trustees during the current or preceding year. No employee received £60,000 or more during the current or preceding year. Neither the Rector nor one of the Curates is included in the total salaries. This is because the Rector and Curate’s stipends are met under Church of England arrangements and not by the PCC. Housing expenses for the Rector and Curate are included under Accommodation. The total remuneration including employer pension contributions paid to key management personnel by the charity was £338,603 (2020: £334,382). The average number of staff employed during the year was: ||2021||2020|| |---|---|---|---|---| |Church
Parish/Youth|4
4|(1pit)|5
4|(1 pit)| |Studentwork
Headington Church and admin
Administration/PA
Cowley
Cleaning staff|3
7
8
2
4|(2p/t)
(4pit)
(4 pft)|3
6
8
1
4|(1 p/t)
(2 pit)
(4p/t)
(4p/t)| |Equivalent full time staff|24||22|| |p/t=parttime||||| | 19 | The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Notes to the Financial Statements for the year ended 31st December 2021 Liteesesteeeereeeeess CONtINUET ## 4d Pension costs St Ebbe’s PCC participates in the following pension schemes for its staff: - (i) St Ebbe's PCC participates in the Church of England Funded Pensions Scheme for stipendiary clergy, a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Responsible Bodies. Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme’s assets and liabilities to specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year, plus the figures highlighted in the table below as being recognised in the SoFA. A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31st December 2018. The 2018 vaiuation revealed a deficit of £50m, based on assets of £1,818m and a funding target of £1,868m, assessed using the following assumptions: - e An average discount rate of 3.2% p.a.; e PI inflation of 3.4% p.a. (and pension increases consistent with this); e increase in pensionable stipends of 3.4% p.a.; e Mortality in accordance with 95% of the S3NA_VL tables, with allowance for improvements in mortality rates in line with the CMI2018 extended model with a long term annual rate of improvement of 1.5%, a smoothing parameter of 7 and an initial addition to mortality improvements of 0.5% p.a. Following the 31 December 2018 valuation, a recovery plan was put in place until 31st December 2022 and the deficit recovery contributions (as a percentage of pensionable stipends) are as set out in the table below. |% ofpensionable stipends|January 2018 to|January 2021 to| |---|---|---| ||December 2020|December 2022| |Deficitrepaircontributions|11.9%|7.1%| As at 31st December 2018 the deficit recovery contributions under the recovery plan in force at that time were 11.9% of pensionable stipends until December 2025. As at 31st December 2019 and 31st December 2020, the deficit recovery contributions under the recovery plan in force were set out in the above table. For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme’s rules. 20 The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | / | : ## Notes to the Financial Statements for the year ended 31st December 2021 Liteteereeeeeeeeeeees CONtINUEd ## 4d‘ Pension costs (continued) Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised asa liability. The movement in the provision over 2020 and over 2021 is set out in the table below. |||||||2021|2020| |---|---|---|---|---|---|---|---| |||||Balance sheet liability at
1 January||17,000|19,000| |||||Deficit|contribution paid|-11,000|-10,000| |||||Interest cost (recognised in SoFA)||0|0| |Remaining|change|to|the|balance sheet liability*|(recognised in|1,000|8,000| ||||||SoFA)||| |||||Balancesheetliability|at31December|7,000|17,000| * Comprises change in agreed deficit recovery plan, and change in discount rate and assumptions between year-ends. This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions. In general, these are set by reference to the duration of the deficit recovery payments but as at 31 December 2021, under accounting rules the payments are not discounted since the remaining recovery plan is less than 12 months. No price inflation assumption is needed since pensionable stipends for the remainder of the recovery plan are already known. set by reference to the duration of the deficit recovery payments: ||December 2021|December 2020|December2019| |---|---|---|---| |Discount rate|0.0% pa|0.2% pa|1.1% pa| |Price inflation|n/a|3.1% pa|2.8% pa| |Increasetototalpensionablepayroll|-1.5%pa|1.6%pa|1.3%pa| The legal structure of the scheme is such that if another Responsible Body fails, St Ebbe's PCC could become responsible for paying a share of that Responsible Body's pension liabilities. (ii) St Ebbe’s (Oxford) PCC participates in the Pension Builder Scheme section of Church Workers Pension Fund for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers. The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014. The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford i i i f i ## Notes to the Financial Statements for the year ended 31st December 2021 Litteteeeeseeeeeeeees CONtiNUed ## 4d Pension costs (continued) ## Pension Builder Scheme The Pension Builder Scheme of the Church Workers Pension Fund is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classed as defined benefit schemes. Pension Builder Classic provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending upon the investment returns and other factors. Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members’ Normal Pension Age. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable. A valuation of the Pension Builder Scheme is carried out once every three years. The most recent was carried out as at 31st December 2016. For the Pension Builder Classic section, the valuation revealed a deficit of £14.2m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time. For the Pension Builder 2014 section, the valuation revealed a surplus of £1.8m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. The legal structure of the scheme is such that if another employer fails, St Ebbe’s PCC could become responsible for paying a share of that employer's pension liabilities. (iii) | Contributions were also made on behalf of 1 member of staff under private pension arrangements. i 22 i i i : ## The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford ## Notes to the Financial Statements for the year ended 31st December 2021 bissseeeeesereeeeeee CONTINUE ## 4e Analysis of support costs |2021||||General||| |---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Total| |||||Funds|Funds|2021| |||||£|£|£| |Payroll and pension||for admin|staff|203,695|44,283|247,978| |Stationery, printing and photocopying||||7,506|3,086|10,592| |Postage, phone
Equipment|and internet|||12,341
2,623|3,773
1,429|16,1714
4,052| |Auditor’s fees|-|audit||5,500|-|5,500| ||-|payroll administration||2,638|-|2,638| ||-|other||430|-|430| |Legal and professional fees||||1,695|-|1,695| |Other administration||||4,159|-|4,159| |Bank charges|||.|712|124|836| |||||241,299|52,695|293,994| |2020||||General
Unrestricted|Restricted|Total| |||||Funds|Funds|2020| |||||£|£|£| |Payroll and pension||for admin|staff|214,642|40,668|255,310| |Stationery, printing and photocopying||||6,646|2,572|9,218| |Postage, phone
Equipment|and|internet||9,942
4,747|2,781
-|12,723
4,747| |Auditor's fees|-|audit||6,936|-|6,936| ||-|payroll administration||2,154|-|2,154| ||-|other||412|-|412| |Legal and professional fees||||2,064|768|2,832| |Other administration||||-|2,733|2,733| |Bank charges||||871|102|973| |||||248,414|49,624|298,038| | | . ; ; i i ; : : ## The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford Notes to the Financial Statements for the year ended 31st December 2021 tittestrsterereeneees CONtINUCT ## 5. Fixed assets |5a|_|Tangible fixed assets|Freehold|Leasehold|| |---|---|---|---|---|---| ||||Property
Parish
Centre|Property
Penny-
farthing|Total| ||||£|£|£| |||Cost or Valuation|||| |||At fst January 2021|729,832|564,000|1,293,832| |||Costorvaluation c/f|729,832|564,000|1,293,832| |||Depreciation
At tst January 2021|105,394|338,400|443,794| |||Charge for the year|36,492|112,800|149,292| |||Depreciation cif|141,886|451,200|593,086| |||Net book value|||| |||At 31st December 2021|587,946|112,800|700,746| |||At31stDecember2020|624,438|225,600|850,038| ## 5b Investment fixed assets ## Investment Funds |||St Ebbe’s||| |---|---|---|---|---| ||Trustbridge
Fund|Ecclesiastical
Charity|Hardship
Fund|Total| |||£|£|£| |Market value at 1st January 2021|-|89,360|158,632|247,992| |Investment additions in the year
Increase during the year|4,641
-|-
12,676|-
24,853|4,641
37,529| |Marketvalueat31stDecember2021|4,641|102,036|183,485|290,162| Investment Funds held by the St Ebbe'’s Ecclesiastical Charity: see Note 1. Investments in common investment funds are included at bid price. |ii | i i ; : | i i : ## The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford ## Notes to the Financial Statements ## for the year ended 31st December 2021 Litetetteseeeseeeeees CONTINUE ## 6. Analysis of net assets by fund **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |General|Total| |unrestricted|Restricted|funds| |funds|funds|2021| |£|£|£| |Tangible|fixed|assets|223,946|476,800|700,746| |Investments|4,644|285,521|290,162| |Current|assets|408,041|146,325|554,366| |Current|liabilities|(34,842)|(22,292)|(57,134)| |Pension|provision|(7,000)|-|(7,000)| |594,786|886,354|1,481,140| |——See| |General|Total| |unrestricted|Restricted|funds| |funds|funds|2020| |£|£|£| |Tangible|fixed|assets|237,688|612,350|850,038| |Investments|-|247,992|247,992| |Current|assets|446,958|206,965|653,923| |Current|liabilities|(59,638)|(65,432)|(125,070)| |Pension|provision|(17,000)|-|(17,000)|:| |608,008|1,001,875|1,609,883| |Debtors||ii| |2021£2020||| |Trade|debtors|-|976| |Income|tax|recoverable|34,304|34,514|i| |Other|debtors|45,200|122,376| |Prepayments|15,637|12,160|i| |———__—.|—_—|;| |95,141|170,026| |Liabilities:|amounts|falling|due|within|one|year| |2021|2020|:| |Trade|creditors|43,972|11,634||| |Accruals|and|deferred|income|13,162|77,808|i| |Other|creditors|-|262|i| |Loans|-|35,366|:| |57,134|125,070| **----- End of picture text -----**
## 7. Debtors 8. Liabilities: amounts falling due within one year 25 settetterereereeeeees CONtINUGT | : i ' ; / i The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford ## Notes to the Financial Statements for the year ended 31st December 2021 ## 9. Provision Provision has been made for deficit funding plans in respect of the Church of England Funded Pension Scheme for stipendiary clergy. See note 4d(i). |10.|Fund details|||||||| |---|---|---|---|---|---|---|---|---| |||Balance at
1/1/21|Income|Gain
on|Expenditure|Transfers|Balance at
31/42/21|| |||||invest-||||| |||||ments||||| |||£|£|£|£|£||£| ||Unrestricted|||||||| ||General|608,008|1,063,793|-|(1,059,321)|(17,694)||594,786| ||Restricted|||||||| ||Headington|173,884|347,864|-|(392,292)|-||129,456| ||St Ebbe's Ecclesiastical Charity|89,361|-|12,676|-|-||102,037| ||PA forVaughan Roberts|-|15,782|-|(15,046)|(736)||-| ||Local Hardship Fund|178,426|10,940|24,853|(25,275)|-||188,944| ||Rector’s Discretionary Fund|2,856|20,376|-|(7,381)|-||15,851| ||Student Ministry|-|88,955|-|(93,119)|4,164||-| ||Harvest offering
Building Project|-
557 348|42,885
-|-
-|(43,345)
(130,329)|460
-|.|-
427,019| ||Grace Church Cowley|-|78,326|-|(92,110)|13,806||22| ||Cowley Women’s worker|-|28,823|-|(5,798)|-||23,025| |||4,001,875|633,951|37,529|(804,695)|17,694||886,354| |||1,609,883|1,697,744|37,529|(1,864,016)|-|1,481,140|| |||Balance at
1/1/20|Income|Gain
on|Expenditure|Transfers|Balance at
31/12/20|| |||||invest-||||| |||||ments||||| |||£|£|£|£|£||£| ||Unrestricted
General|544,729|1,201,987|-|(1,136,552)|(2,156)|608,008|| ||Restricted|||||||| ||Headington
St Ebbe’s Ecclesiastical Charity
PA forVaughan Roberts
Local Hardship Fund|109,115
83,989
-
174,862|395,715
-
16,221
8,704|-
5,372
-
9,659|(330,946)
-
(16,221)
(14,799)|-
-
-
-|173,884
89,361
-
178,426|| ||Rector’s Discretionary Fund
Student Ministry
Building Project
Grace Church Cowley|7,809
-
645,150
-|12,323
74,734
60,122
71,274|-
-
-
-|(17,276)
(74,734)
(147,924)
(73,430)|-
-
-
2,156|2,856
-
557,348
-|| |||1,020,925|639,093|15,031|(675,330)|2,156|1,001,875|| |||1,565,654|1,841,080|15,031|(1,811,882)|-|1,609,883|| 26 The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | i | i : i ## Notes to the Financial Statements for the year ended 31st December 2021 veteeteeereeeeeeeeeee CONtINUEd ## 10. Fund details (continued) The restricted fund: Headington represents the Headington branch of the church, which from 1st January 2009 became autonomous from the central branch from an accounting perspective. The restricted fund: St Ebbe’s Ecclesiastical Charity, please see Notes 1 and 5b. The restricted fund: PA for Vaughan Roberts represents giving specifically for the purpose of contributing to the employment costs of a Personal Assistant for the Rector. The restricted fund: Local Hardship Fund provides financial help to needy individuals with whom St Ebbe’s PCC is associated, both within our congregations and our Jocal community. The restricted fund: Rector's Discretionary Fund represents income arising from royalties from publications of the Rector, which he has pledged to the PCC. in turn, the PCC has agreed that he has the discretion to direct where these payments should be made. The restricted fund: Student Ministry represents giving specifically for the purpose of contributing to the employments costs of staff ministering to students. The restricted fund: Harvest Offering represents the giving from a specific appeal held each autumn, to be given by St Ebbe’s to charities assisting the underprivileged. The restricted fund: Building Project represents monies collected for appeals to extend and alter our buildings and the expenditure on this work. The restricted fund: Grace Church Cowley represents giving specifically to establish and run a church plant at Cowley, and the related expenditure. The restricted fund: Cowley Women's Worker represents giving specifically for the purpose of contributing to the employment costs of a Women's Worker for Grace Church Cowley. The Parochial Church Council of the Ecclesiastical Parish of St Ebbe with Holy Trinity and St Peter Le Bailey, Oxford | | i | : : i : i : : ; i Notes to the Financial Statements for the year ended 31st December 2021 berereeereeereeeeees. CONtiNUed ## 11. Related party transactions - (i) | The ‘Friends of St Ebbe's Trust’ (FOSE) (a registered charity 1043090) is deemed a related party of the PCC as it has some common trustees. FOSE owns 81 Marlborough Road, a property acquired for the current and future residential use of ministry staff at St Ebbe’s. During the year the PCC received a donation of £77,743 (2020: £74,457) from the Trust as a contribution towards student ministry costs. One part time employee of the PCC worked as an administrator for FOSE and the costs of her employment were fully covered by FOSE. - (ii) The incumbent, the Reverend Canon Vaughan Roberts, was also a trustee of the following charities with which the PCC had transactions during the year: - the Proclamation Trust (registered charity 1094952) — the PCC received funding totalling £150 from this charity in the year (2020: ENil). - 9:38 (registered charity 1092881) — the PCC awarded a grant of £2,145 for conference expenses to this charity in the year (2020: £2,000). - South Central Gospel Trust (registered charity 1149625) — the PCC received funding totalling £53,437 from this charity in the year (2020: £93,789). This includes payment for the Trust's Training Director who is employed by the PCC and all his costs are fully covered by the Trust. (ili) Thehas some‘St Ebbe’scommon Gospeltrustees..Trust’ (SEGT) is a charity) which is deemed a related party of the PCC as it The property in Lime Walk in Headington where the congregation meets is owned by SEGT and is occupied bycosts the PCC under a licence at a licence fee of£1 per annum. The PCC has to pay all running and maintenance on this property. ## 12. Reconciliation of net movement in funds to net cash flow from operating activities **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |2021|2020| |Net|movement|in|funds|(128,743)|44,229| |Interest|income|shown|in|investing|activities|(7,367)|(7,843)| |Depreciation|149,292|149,292| |Gains|on|investments|(37,529)|(15,031)| |Decrease|/(increase)|in|stock|1,693|(4,015)| |Decrease/(increase)|in|debtors|74,885|(119,706)| |Decrease|in|creditors|(67,936)|(172,732)| |Decrease|in|provisions|(10,000)|(2,000)| |Net cash|used|by|operating|activities|(25,705)|(127,806)| **----- End of picture text -----**
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