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2020-12-31-accounts

CHRIST CHURCH

VIRGINIA WATER

REPORT AND ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2020

Christ Church Virginia Water Christchurch Road Virginia Water Surrey GU25 4PT

The Parochial Church Council of the Ecclesiastical Parish of Christ Church Virginia Water (Christ Church Virginia Water) is a registered charity, number 1128275

Page 1 of 23

CHRIST CHURCH VIRGINIA WATER

REPORT AND ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2020

PRINCIPAL OFFICE Christ Church Christchurch Rd Virginia Water Surrey GU25 4PT

VICAR: Rev. Dr. Simon Vibert CURATE: Rev. Vincent Murphy CHURCH WARDENS: Lynn Eastlund, George Gilbert

PCC MEMBERS at 31 Dec 2020: Mr. Roger Blain, Rev. Jeremy Brown, Mr. Ken Edwards, Dr. Margaret Perkins, Mrs. Elizabeth Retenais, Mr. Colin Rye, Mr. Akeel Sachak, Mrs. Ali Scott, Mrs. Pamela Unwin, Mr. Rod Whitehead.

TREASURY TEAM

Rod Whitehead (Treasurer) Leza Sack (Finance Administrator)

BANKERS Barclays Bank plc 17 – 19 High Street Ascot Surrey SL5 7JG

INDEPENDENT EXAMINER

Malcolm Lucas, FCA, DChA Chartered Accountant Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LR

Page 2 of 23

CHRIST CHURCH VIRGINIA WATER

REPORT AND ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2020

CONTENTS

CONTENTS
PAGE
Structure, Governance and Management 4
Membership of the PCC 4
Trustees Annual Report for 2020 5
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements
1. Parochial Church Council 13
2. Accounting Policies 13
3. Income 15
4. Expenditure 16
5. Fixed Assets for use by the PCC 17
6. Debtors 18
7. Creditors (Liabilities) 18
8. Analysis of Net Assets by Fund Type 18
9. Funds 19
10. Staff Costs 21
11. Commitments under Operating Leases 21
12. Transactions involving Related Parties 22
13. Outward Giving (Grants) 23

Page 3 of 23

CHRIST CHURCH VIRGINIA WATER

Structure, Governance and Management

The Parochial Church Council of the Ecclesiastical Parish of Christ Church Virginia Water (Christ Church Virginia Water) is a registered charity, number 1128275 entered on the Register of Charities 26 February 2009. As a church within the Church of England (CofE), Christ Church Virginia Water (CCVW) is constituted within the Parochial Church Councils (Powers) Measure 1956. Members of the Parochial Church Council (PCC) are either ex-officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules and, by dint of membership, become the charity’s Trustees. All Church attendees are encouraged to register on the Electoral Roll and to consider standing for election to the PCC. Prospective new PCC members / trustees are advised of PCC membership and Trusteeship duties and responsibilities by means of receipt and discussion of the CofE PCC Standing Orders and the Trusteeship booklet produced jointly by the Archbishop’s Council and the Charity Commission. PCC members are required to complete an HMRC Fit and Proper Persons Declaration, and a Charity Commission Declaration of Eligibility for Newly-Appointed Trustees.

The PCC meets every second month. The PCC is responsible for policy approvals and decisions, approval of significant non-routine expenditure, identification, assessment and mitigation of risks, and other significant decision-making, including the review of any proposals submitted by church sub-committees. The Standing Committee, a sub-set of the PCC membership, meets if necessary, between PCC meetings to take urgent decisions on the PCC’s behalf.

The Incumbent (Vicar) serves as Chair to the PCC and as senior manager to the Church Staff Team, which comprises other clergy and eight PCC-employed staff. Due to possible conflicts of interest, the latter are not permitted to stand for election to the PCC.

During the year the following served as members of the PCC:

Incumbent / Vicar (Chair): Rev Dr Simon Vibert * Curate: Rev Vincent Murphy * Children & Families Pastor: Rev Jeremy Brown * Churchwardens: Mr. George Gilbert * Mrs. Lynn Eastlund * PCC Secretary: Mrs. Anne Martin ** Safeguarding Officer: Mrs. Pamela Unwin Representatives on the Dr. Margaret Perkins (from APCM) Deanery Synod: Mrs. Annette Ross (from APCM) * Mrs. Pamela Unwin (from APCM) Mr. Philip Elsdon (until APCM) Elected Members: Mrs. Margaret Banks (until APCM) Mr. Charlie Bygrave (until APCM) Mr. Rob Humphreys (until APCM) Mrs. Pamela Unwin* Mr. Greg Reeve (until APCM) Mrs. Lesley Dumbleton (until APCM) Mrs. Elizabeth Retenais Mr. Colin Rye (from APCM) Mrs. Beverley Gilbert (until APCM) Mr. Roger Blain (from APCM) Mr. Andrew Pereira (until APCM) Dr. Margaret Perkins (from APCM) Mr. Ken Edwards Mr. Akeel Sachak (from APCM) Mrs. Celia Goddard (until APCM) Mrs. Ali Scott (from APCM) Mr. Rod Whitehead *

Page 4 of 23

CHRIST CHURCH VIRGINIA WATER

Structure, Governance and Management (Continued)

In the pursuit of its Christian charitable objectives Christ Church Virginia Water co-operates on an ongoing basis with 10 Mission Partners offering both practical involvement and regular financial support in the form of grants (Note 14, page 23). All are UK-registered charities.

The daily management of the Church and its events is delegated by the PCC to an administrative team consisting of three part-time staff and the full-time Operations Manager, Mrs. Annette Ross. This team is supported by a number of church members who volunteer their time to assist with clerical and administrative tasks, and many more who help with services, refreshments, catering and running events, without whom the church could not offer the number and variety of functions that it does.

Trustees Annual Report for 2020

Introduction and Background

Christ Church PCC is responsible for co-operating with the incumbent, Rev Dr Simon Vibert, in promoting the whole mission of the Church - pastoral, evangelistic, social and ecumenical. It also has oversight of the financial affairs of Christ Church Virginia Water and responsibility for the maintenance of the buildings.

The Mission of Christ Church remains “ to know Jesus and make Jesus known ”. This mission underpins the Church’s new Vision, “In the Community; For the Community; To The Glory of God”, which was developed in 2019. The number of people on the Church’s Electoral Roll during the year was 186 (206 in 2019) and the average weekly attendance at Sunday services was 194 (228 in 2019). The 2020 attendance figures include attendance in person and online.

Review of the Year

When reviewing our aims and objectives and in planning our future activities, we have referred to the guidelines in the Charity Commission’s general guidance on public benefit. In particular, the trustees, on an on-going basis, consider how planned activities will contribute to the aims and objectives they have set.

Christ Church has a public duty and charge to the ‘care of souls’ for the Parish of Virginia Water. The overall ministry and work of the PCC, the Clergy and the Staff Team routinely embraces this charge. All of the Church’s services and activities are accessible and open to the general public living within and beyond the Parish boundaries. As an Anglican church we serve parishioners through the arrangement of baptisms, funerals, and weddings including wedding preparation. Additionally, at Christmas, Easter and Harvest we run specific services and events for the wider community and on Remembrance Sunday we meet our civic responsibilities to the Parish.

Other activities that demonstrate our commitment and service to the community include the regular use of Church premises by secular groups including “The WonderYears” (a Senior Citizens’ rock band), a jazz group, Parents & Toddlers, a youth group serving two local American schools, a Mahjong group, and two secular counselling services. We have also arranged a number of events within the community during the year.

We recognize that in following Jesus it is possible to live within a Church family that both builds up and strengthens its own members and can also be a blessing to the wider community in which we live. One of our foremost objectives is to be a Church which is relevant for ‘seekers’ as well as believers, in addition to being relevant to the wider community.

Page 5 of 23

CHRIST CHURCH VIRGINIA WATER

Trustees’ Annual Report for the Year Ended 31 December 2020 (Continued)

1. Objectives for the year to advance the Mission of the Church

The Mission of Christ Church remains “to know Jesus and make Jesus known”. This mission underpins the Church’s new Vision “In the Community; For the Community; To The Glory of God”. The key elements of this Vision are:

Our Vision is consistent with the Diocesan strategic initiative “Transforming Church, Transforming Lives”

2. Activities to achieve the objectives

Due to the coronavirus pandemic most of the church’s plans for the year were altered, and the activities of the church changed more dramatically in 2020 than they have for many decades.

From the beginning of March church activities that involve close personal inter-action, namely the Sunday clubs for children, the toddler groups on Wednesdays and the Good News Café and activities for seniors and others in the community on Thursdays, all had to stop and have not yet re-commenced. Church services moved immediately online without interruption from the middle of March until the middle of June when they were allowed to re-commence in person. From mid-June until the end of the year we operated a hybrid model with a limited number of people able to attend a live service with strict social distancing, and this service being available online for the rest of the church family.

The online technology adopted was live streaming via YouTube supported with Zoom meetings for discussion and fellowship. All YouTube broadcasts are available for delayed viewing via Christ Church’s YouTube channel. Development of our new Vision: Many of the plans made to put our vision into action had to be shelved. Below are some of the highlights of what we did instead to further the vision.

Reaching & Growing: Simply maintaining contact with the church family in such unprecedented times was the first challenge. In addition to the online services and discussion groups, we made efforts to ensure that members of the church who could not gain access online were offered DVDs or written materials. Ironically, the online services have allowed several people living some way from the church to connect with us.

Maturing & Equipping: A particular emphasis was placed on encouraging people to join home groups, which continued to explore the Bible via Zoom meetings. Discipleship courses were also run via Zoom meetings, as were youth and student groups. Children were catered for via a separate Children’s YouTube teaching video every Sunday for some months, and a number of special events via YouTube and Zoom.

Influencing & Caring: An initiative was immediately launched to ensure that church members living on their own and elder church members were not isolated or unable to access healthcare and food. Clergy & volunteers phoned them, and many errands were run. We also connected with the Virginia Water Community Support Group and the local Foodbank, with church members volunteering for both and their services being

Page 6 of 23

CHRIST CHURCH VIRGINIA WATER

Trustees’ Annual Report for the Year Ended 31 December 2020 (Continued)

2. Activities to achieve the objectives (continued)

advertised to the church family. Many of these initiatives were continued throughout the year, and not just in lockdown periods.

Spreading & Promoting: All the You Tube and Zoom activity has meant that we have far exceeded our original plans for media friendly communication. Improvements were made to our website, and plans are being developed for a new website with greater functionality. We also started a new weekly Vicar’s letter to provide a personal touch to help people with their daily walk with Jesus.

Serving & Sharing: There was a significant increase in volunteering and in simple acts of neighbourly love as the church family responded to local needs. During the year three young former members of church took important steps to full time service, two starting theological studies to join the clergy, and one taking up his first role as a curate.

3. Financial Report

We started the year budgeting for breakeven with expected income and expenditure of about £470,000. However, when we went into lockdown In March 2020 it became clear that our income would be affected by a loss of rental income and income from regular events. It was also likely that donation income would be affected due to changes in personal circumstances. On the other hand, there were some obvious cost savings as a result of the church being closed, and we were able to access further savings by furloughing staff under the Coronavirus Job Retention Scheme. In the event our 2020 Unrestricted income was £443,768 and our Unrestricted Expenditure was £426,919, resulting in a surplus for the year of £16,849. Expenditure fell more than Income thanks to the savings from furloughing staff, tight cost controls, and reduced activities due to the COVID restrictions.

We ceased the production & distribution of the parish magazine in April, hence income and costs relating to this were much lower. We now have 4 pages in the Virginia Water Community magazine, which meets our objective of connecting with the local community and keeping them informed of church events.

There was no income into other Unrestricted or Restricted Reserves from legacies or other One-Off Gifts. The major outgoings out of these reserves related to new fixed assets – the solar panels on the roof, a new audiovisual system and an upgraded CCTV system. These items totalled approx. £39,000 and since they needed to be capitalised as fixed assets, transfers have been made from the Legacy and Capital Projects Reserve into the Fixed Asset Reserve totalling this amount. The overall result for the year was a net increase in Reserves of £16,849 (2019 - £113,309 increase). The changes to Reserves can be summarised as follows:

Increase in General Fund
One-Off Gift Reserve
Change in Legacy Fund
Change in Property Repair Fund
Change in Outward Giving Fund
Change in Fixed Asset Reserve
Total Increase in Unrestricted Funds
Restricted - Capital Projects Fund
Total Change in Reserves		 2020
2019
RESTATED
£
£
19,734
18,467
0
50,000
-15,913
5,913
1,158
2,213
-3,964
-1,208
33,341
6,092
34,356
81,477
-17,507
31,832
16,849
113,309

Page 7 of 23

CHRIST CHURCH VIRGINIA WATER

Trustees’ Annual Report for the Year Ended 31 December 2020 (Continued)

3. Financial Report (continued)

Reserves Policy

Total Reserves amounted to £560,421 at 31 December 2020 (2019 - £543,571). Of these, £284,408 is invested in fixed assets leaving £276,013 (2019 - £292,505) in current assets. Of these, £14,326 is in the Restricted Capital Projects Fund and £78,575 is unrestricted but designated for specific purposes as follows:

Outward Giving £2,690 Property Repairs £3,371 Church Extension £72,514

This leaves ‘free’ reserves (not tied up in fixed assets or already committed) of £183,112 (2019 - £163,379).

The PCC is of the opinion that, with well-managed expenditure and a continuing emphasis on congregational stewardship, the appropriate target for free reserves to provide sufficient working capital for the church would be of the order of £60,000 to £130,000 to allow for fluctuations in giving levels. The level of reserves we hold is above this range, which should ensure that the church remains financially stable. We anticipate a deficit in 2021, which is likely to bring reserves back towards the top of the targeted range.

Remuneration of Key Management Personnel

The pay and remuneration of the Key Management Personnel, namely the vicar and curate, are set by the Diocese.

Risk Assessment

The PCC continues to carry out risk assessments of its activities and premises. The principal policy document (Health & Safety), which sets out the main risks to which the Church is exposed, was reviewed and updated and approved by the PCC in November 2019. It relates to fire, lightning strike, food safety, electrical appliances, gas appliances, and others. For each, the controls in place to mitigate those risks are defined and the renewal dates are stated. The document is subject to annual PCC review and was presented to PCC in March 2020. A separate Fire Risk Assessment was approved by the PCC on 19[th] June 2018, together with a Privacy Notice which relates to the church’s position on data protection and includes the new Data Protection Regulations which came into force in May 2018. Safeguarding of children and vulnerable adults is a specialised area of risk for which the PCC has a dedicated policy, also reviewed annually, and a trained Safeguarding Officer who sits on the PCC. The Safeguarding Policy was approved by the PCC in two stages, in May and September. The Pastoral Care Team and all staff and volunteers who have a front-line interface with children or vulnerable adults are trained in safeguarding and have regular Disclosure (DBS) checks as required.

Approved by the PCC 16[th] March 2021

Rev. Simon Vibert (Vicar & Chairman of the PCC)

Page 8 of 23

INDEPENDENT EXAMINER’S REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE PARISH OF CHRIST CHURCH VIRGINIA WATER

I report to the members on my examination of the accounts of The Parochial Church Council of The Parish of Christ Church Virginia Water (“the PCC”) for the year ended 31 December 2020 set out on pages 12 to 25.

Responsibilities and basis of report

As the members of the PCC (and trustees for the purposes of charity law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the PCC’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no option as to whether the accounts present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement

Independent examiner’s statement

Since the PCC’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 a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

Your attention is drawn to the fact that The PCC has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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

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 to enable a proper understanding of the accounts to be reached.

Use of my Report

This report is made solely to the PCC, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the PCC 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 PCC as a body for my work or for this report.

Centrum House 36 Station Road, Egham Surrey, TW20 9LF

Malcolm Lucas, FCA, DChA Menzies LLP Chartered Accountants Date:- 14 April 2021

Page 9 of 23

CHRIST CHURCH VIRGINIA WATER - Statement of Financial Activities (Incorporating Income and Expenditure Account) For the Year Ended 31 December 2020

2020 2020 2019 RESTATED 2019 RESTATED
UNRESTRICTED RESTRICTED TOTAL UNRESTRICTED RESTRICTED TOTAL
FUNDS FUNDS FUNDS FUNDS
NOTES
£		 £ £ £ £ £
INCOME FROM:-
Donations and Legacies 3a 414,600 0 414,600 532,283 86,850 619,133
Church Activities 3b 14,448 0 14,448 38,264 0 38,264
Other Trading Activities 3c 12,000 0 12,000 15,275 0 15,275
Investments 3d 2,720 0 2,720 1,731 0 1,731
Total Income 443,768 0 443,768 587,552 86,850 674,402
EXPENDITURE ON (page 18)
Church Activities
Outward Giving Grants 4a & 14 45,464 0 45,464 50,160 18,100 68,260
Work of Church 4b 289,568 0 289,568 373,433 32,808 406,241
Church Management 4c 91,886 0 91,886 86,592 0 86,592
Total Expenditure 426,919 0 426,919 510,185 50,908 561,093
Net Income/Expenditure 16,849 0 16,849 77,368 35,942 113,309
Transfers Between Funds 17,507 -17,507 0 4,109 -4,109 0
Gains & Losses on Investments 0 0 0 0 0 0
Net Movement in Funds 34,356 -17,507 16,849 81,477 31,832 113,309
Balances brought forward at 9 511,739 31,832 543,571 430,262 0 430,262
1 January 2020
Balances carried forward at 546,096 14,325 560,421 511,739 31,832 543,571
31 December 2020

Page 10 of 23

CHRIST CHURCH VIRGINIA WATER

Balance Sheet as at 31 December 2020

NOTES
£
FIXED ASSETS
Tangible Fixed Assets
5
CURRENT ASSETS
Debtors
6
Cash at Bank
CURRENT LIABILITIES
Creditors: Amounts falling due in one Year
7
NET CURRENT ASSETS
TOTAL NET ASSETS
8
Represented by :
PARISH FUNDS
Unrestricted & Designated
9a
Restricted
9b
NET ASSETS		 2019
RESTATED
£
£
286,199
253,630
13,145
9,725
273,597
290,758
286,742
300,483
12,521
10,542
274,221
289,941
560,421
543,571
546,096
511,739
14,326
31,832
2020
543,571
560,421		 2019
RESTATED
£
£
286,199
253,630
13,145
9,725
273,597
290,758
286,742
300,483
12,521
10,542
274,221
289,941
560,421
543,571
546,096
511,739
14,326
31,832
2020
543,571
560,421
253,630
9,725
290,758
300,483
10,542
289,941
543,571
511,739
31,832
543,571

Approved by the Parochial Church Council on 16[th] March 2021 and signed on its behalf by:

Revd. Simon Vibert (Vicar and Chairman of the PCC).

The notes on pages 13-23 form part of these accounts.

Page 11 of 23

CHRIST CHURCH VIRGINIA WATER

STATEMENT OF CASH FLOWS 2020 FUNDS 2020 FUNDS 2019 FUNDS 2019 FUNDS Note
RESTATED
£ £
Cash Flows from operating activities:
Net Cash provided by (used in) operating activities 13,459 86,615 CF1
Cash Flows from investing activities:
Dividends, interest and rents from investments 2,720 1,731
Purchase of fixed assets (33,341) (5,696)
Net cash provided by (used in) investing activities (30,621) (3,965)
Cash Flows from financing activities:
Net cash provided by (used in) financing activities 0 0
Change in cash and cash equivalents in period (17,162) 82,650
Cash and cash equivalents at the beginning of period 290,758 208,108 CF2
Cash and cash equivalents at end of the period 273,597 290,758 CF2
CF1 RECONCILATION OF NET INCOME/(EXPENDITURE) TO 2020 2019
NET CASH FLOW FROM OPERATING ACTIVITIES
£ £
Net income for the period (as per SOFA) 16,849 113,309
Adjustments for:
Depreciation charges 771 1,344
Dividends, interest and rents from investments (2,720) (1,731)
Increase/decrease in debtors (3,420) (864)
Increase/decrease in creditors 1,979 (25,443)
Net cash provided by (used in) operating activities 13,459 86,615
CF2 Analysis of cash and cash equivalents 2020 2019
£ £
Cash in hand 273,597 290,758
Total cash and cash equivalents 273,597 290,758
CF3 Analysis of changes in net debt
At start of year Cashflows At end of year
£ £ £
Cash 290,758 (17,161) 273,597
Total 290758 (17,161) 273597

Page 12 of 23

Notes to the Financial Statements For the Year Ended 31 December 2020

CHRIST CHURCH VIRGINIA WATER

1 Parochial Church Council

The Parochial Church Council of the Ecclesiastical Parish of Christ Church Virginia Water is a Parochial Church Council established under the Parochial Church Council Powers Measure (1956) as amended and the Church Representation Rules, and is a charity registered with the Charity Commission in England and Wales, number 1128275. Details of the principal office are included in the PCC’s Annual Report. Christ Church Virginia Water meets the definition of a Public Benefit Entity under FRS102.

2 Accounting policies

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 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Church Accounting Regulations 2006 and Charities Act 2011.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements 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 nor do they include groups that are informal gatherings of church members.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005, which has since been withdrawn.

2.1 Going Concern

The Church has adequate reserves and recurring sources of income. The PCC therefore believes there are no material uncertainties about the charity’s ability to continue as a Going Concern and the Financial Statements have been prepared on that basis.

2.2 Funds

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.

Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in Note 9b.

2.3 Income

Voluntary income and capital sources

Offerings and collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Tax recoverable on Gift Aid donations is recognised when the donation is recognised.

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 reasonably certain.

Funds raised by fêtes, garden parties and similar events are accounted for gross. Sales of books and magazines from the church bookstall are accounted for gross.

Income from CJRS Grants is recognised on a receivable basis.

Other income

Rental income from the letting of church premises is recognised when the rental is due. Income from Parish Magazine advertising is recognised when due.

Page 13 of 23

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2020

2.3 Income (continued)

Intangible income

The benefit of donated facilities is recognised as income on an equivalent value basis.

Income from investments

Interest entitlements are accounted for as they accrue.

2.4 Expenditure

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC.

Activities directly relating to the work of the Church

The Diocesan Parish Share is accounted for when due.

Intangible expenditure

The use of donated services or facilities is recognised as expenditure on an equivalent value basis.

Other expenditure is recognised when it is incurred and includes, where applicable, irrecoverable VAT.

2.5 Fixed assets

Consecrated property and movable church furnishings

Consecrated and beneficed property of any kind is excluded from the financial statements by s.96(2)(a) of the Charities Act 2011.

Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the Church’s inventory, which can be inspected at any reasonable time.

All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of movable church furnishings is written off.

Other property, fixtures, fittings and office equipment

No depreciation is being charged against the cost of the Curatage at 6 Beechmont Avenue since its present value stands at a significant premium to its book cost.

Equipment with a purchase price of over £1,000 is depreciated as shown below. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired.

2.6

Audio Visual, PA and Computer Equipment 6 years Straight line (previously 4 years)
Kitchen Equipment 6 to 10 years Straight line
Minibuses 10 years 25% reducing balance
Solar Panels 20 years Straight line
Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

2.7 Pension costs

The PCC operates a defined contribution pension scheme for employed staff. The assets of the scheme are held separately from those of the charity. The annual contributions payable is included within resources expended and are analysed in Note 10, page 23 to the accounts.

Page 14 of 23

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2020

2.8 Judgements and estimates

In the opinion of the PCC there are no significant judgements or estimates used in the preparation of the financial statements.

2.9 Prior Year Adjustment

In late 2019, £4,109 was spent on a deposit for solar panels and £1,587 on computer equipment for a new AV system. Both these assets were put into use in mid-2020. They were funded by the restricted Capital Projects Reserve and the Legacy Reserve respectively, and so the cost was written off against these reserves in the 2019 accounts. However, they are both part of fixed assets that should be capitalised according to our accounting policies since they are movable and not part of the church building.

These accounts therefore include a Prior Year Adjustment, increasing opening Fixed Assets by £4,109 for the solar panels and £1,587 for the computer equipment, and increasing the Fixed Asset Reserve by £5,696.

2019
3
INCOME FROM
UNRESTRICTED
RESTRICTED
TOTAL
UNRESTRICTED
RESTRICTED
FUNDS
FUNDS
FUNDS
FUNDS
£
£
£
£
£
3a
Donations and Legacies
Gift Aid Donations
274,373
0
274,373
336,558
70,300
Income Tax Recovered
68,518
0
68,518
84,311
16,430
Gross giving (CAF, Sovereign
12,107
0
12,107
51,189
120
Other planned giving
44,869
0
44,869
52,601
0
Government Grants
13,882
0
13,882
0
0
Cash
0
0
0
10
0
Legacies
0
0
0
7,500
0
Miscellaneous Income
850
0
850
114
0
414,600
0
414,600
532,283
86,850
3b
Church Activities
Magazine
5,304
0
5,304
20,894
0
Book Stall
211
0
211
492
0
Fees
3,976
0
3,976
3,289
0
Events
1,316
0
1,316
492
0
Other Income
3,641
0
3,641
13,097
0
14,448
0
14,448
38,264
0
3c
Other Trading Activites
Centre Lettings
12,000
0
12,000
15,275
0
3d
Investments
Dividends & Interest
2,720
0
2,720
1,731
0
TOTAL INCOME
443,768
0
443,768
587,552
86,850
2020		 TOTAL
£
406,858
100,741
51,309
52,601
0
10
7,500
114
619,133
20,894
492
3,289
492
13,097
38,264
15,275
1,731
674,402

Page 15 of 23

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2020

4
EXPENDITURE ON
UNRE
NOTES
F
CHURCH ACTIVITIES
4a
Outward Giving Grants
14
International Mission & Devt
UK Mission & Development
Other Charities & Individuals
4b
Work of Church
Parish Share
10
Staff Team Salaries
10
Staff Team Expenses
Apprenticeship Scheme Costs
Accommodation
Church Running Expenses
Church Property Maintenance
Minibus
Upkeep of Services
Magazine
Bookstall
Ministry Costs
Staff Training
Fees Payable to Diocese
IT Equipment & Depreciation
Events
Kitchen
4c
Church Management (Support Costs)
Salaries
10
Administration
Bank Charges, Payroll Costs
Independent Examination
Accountancy
Total Expenditure		 2020
STRICTED
RESTRICTED
UNDS
FUNDS
£
£
35,724
0
9,740
0
0
0
45,464
0
135,738
0
61,938
0
1,859
0
6,688
0
16,800
0
19,869
0
14,142
0
2,256
0
476
0
5,955
0
481
0
9,741
0
758
0
2,116
0
8,146
0
1,345
0
1,260
0
289,568
0
85,657
0
1,959
0
1,595
0
2,460
216
0
91,886
0
426,919
0		 2019
RESTATED		 2019
RESTATED
TOTAL
UNRE
F
£
35,724
9,740
0
45,464
135,738
61,938
1,859
6,688
16,800
19,869
14,142
2,256
476
5,955
481
9,741
758
2,116
8,146
1,345
1,260
289,568
85,657
1,959
1,595
2,460
216
91,886
426,919		 STRICTED
REST
UNDS
FU
£
38,744
9,966
1,450
50,160
143,483
86,774
4,022
11,581
18,316
24,083
18,287
2,028
553
24,020
307
20,147
4,126
1,793
10,206
667
3,039
373,433
79,106
2,225
2,056
2,460
745
86,592
510,185		 RICTED
NDS
£
18,100
0
0
18,100
0
0
0
0
0
0
32,808
0
0
0
0
0
0
0
0
0
0
32,808
0
0
0
0
0
0
50,908		 TOTAL
£
56,844
9,966
1,450
68,260
143,483
86,774
4,022
11,581
18,316
24,083
51,095
2,028
553
24,020
307
20,146
4,126
1,793
10,206
667
3,039
406,241
79,106
2,225
2,056
2,460
745
86,592
561,093

Page 16 of 23

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2020

5 FIXED ASSETS FOR USE BY PCC TANGIBLE FIXED ASSETS

FIXED ASSETS FOR USE BY PCC
TANGIBLE FIXED ASSETS
FRE
L
BUI
Costs
Brought forward at 1 Jan 2020
Additions
Disposals
At 31 December 2020
Depreciation
Brought forward at 1 Jan 2020
Charge for year
Disposals
At 31 December 2020
Net Book Value at
31 December 2020		 EHOLD
AND &
LDINGS
AV & COMPUTER
EQUIPMENT
MINI
£
£
251,166
17,127
0
15,834
0
-15,540
251,166
17,421
5,795
15,540
0
0
0
-15,540
5,795
0
245,371
17,421		 BUSES
KITCHEN
EQUIPMENT
CCTV
SOLAR
£
£
£
20,880
9,906
0
0
0
5,880
0
0
0
20,880
9,906
5,880
19,051
9,173
0
457
314
0
0
0
0
19,508
9,487
0
1,372
419
5,880		 PANELS
T
£
4,109
11,627
15,736
0
0
0
0
15,736		 OTAL
£
303,188
33,341
-15,540
320,989
49,559
771
-15,540
34,790
286,199		 49,559
771
-15,540
34,790
Restated Net Book Value at
31 December 2019		 245,371 1,587 1,829
733
0		 4,109 253,630

Freehold Land & Buildings comprise the property at 6 Beechmont Avenue. The Church has committed the property’s availability for a Curate to the Parish and the Diocese of Guildford holds its title as custodian trustee.

The current market value of the property is substantially in excess of the purchase price and therefore no depreciation has been charged.

Page 17 of 23

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2020

6 DEBTORS

Tax Recoverable Other Debtors Interest Accrued Prepayments

7 LIABILITIES Amounts Payable Within One Year Tax & Social Security Sundry Creditors Accruals - General Fund Deferred Income

2020 2019
£ £
10,994 5,292
885 1,076
680 1,167
586 2,190
13,145 9,725
2020 2019
£ £
2,547 1,955
5,889 731
2,460 2,460
1,625 5,397
12,521 10,542

Deferred Income at 1 January 2020 5,397 Amounts released to income (5,397) Amounts deferred in the year 1,625 Deferred Income at 31 December 2020 1,625

2020 2019 RESTATED 2019 RESTATED
ANALYSIS OF NET ASSETS BY FUND Unrestricted Restricted Total
Unrestricted		 Unrestricted Restricted
Funds Funds Funds Funds Funds
£ £ £
£		 £ £
Tangible Fixed Assets 286,199 0 286,199
253,630		 0 253,630
Current Assets 272,418 14,325 286,743
268,651		 31,832 300,484
Current Liabilities -12,521 0 -12,521
-10,542		 0 -10,542
546,096 14,325 560,421
511,739		 31,832 543,571

8 ANALYSIS OF NET ASSETS BY FUND

Page 18 of 23

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2020

9
9a		 FUNDS- 2020
UNRESTRICTED &
DESIGNATED FUNDS
Income
Expenditure Net Income/
Expenditure
Transfers
between
Funds
Net
Movement
in Funds
BALANCE
BROUGHT
FORWARD
BALANCE
CARRIED
FORWARD
£
£
£
£
£
£
£
GENERAL FUND
443,768
367,313
76,455
-56,721
19,734
113,378
133,112
OUTWARD GIVING
0
45,464
-45,464
41,500
-3,964
6,654
2,690
CHURCH PROPERTY REPAIR
Note 9c
0
14,142
-14,142
15,300
1,158
2,213
3,371
LEGACY FUND
Note 9e
0
0
0
-15,913
-15,913
15,913
0
CHURCH EXTENSION
Note 9d
0
0
0
0
0
72,514
72,514
ONE-OFF GIFTS RESERVE
Note 9f
0
0
0
0
0
50,000
50,000
FIXED ASSETS RESERVE
Note 5/9g
0
0
0
33,341
33,341
251,067
284,408
TOTAL
443,768
426,919
16,849
17,507
34,356
511,739
546,096
RESTRICTED FUNDS Income **Expenditure ** Net Income/ Transfers Net BALANCE BALANCE
Expenditure between Movement BROUGHT CARRIED
Funds in Funds FORWARD FORWARD
£ £ £ £ £ £ £
CAPITAL PROJECTS FUND 0 0 0 -17,507 -17,507 31,832 14,325
TOTAL 0 0 0 -17,507 -17,507 31,832 14,325

9b RESTRICTED FUNDS

Page 19 of 23

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2020

9
9a
9b		 RESTATED FUNDS- 2019
UNRESTRICTED &
DESIGNATED FUNDS
Income
Expenditure Net Income/
Expenditure
Transfers
between
Funds
Net
Movement
in Funds
BALANCE
BROUGHT
FORWARD
BALANCE
CARRIED
FORWARD
£
£
£
£
£
£
£
GENERAL FUND
579,834
441,738
138,096
-119,629
18,467
94,911
113,378
OUTWARD GIVING
218
49,947
-49,728
48,733
-995
7,649
6,654
INTN'L MINISTRY
0
213
-213
0
-213
213
0
CHURCH PROPERTY REPAIR
Note 9c
0
18,287
-18,287
20,500
2,213
0
2,213
LEGACY FUND
Note 9e
7,500
0
7,500
-1,587
5,913
10,000
15,913
CHURCH EXTENSION
Note 9d
0
0
0
0
0
72,514
72,514
ONE-OFF GIFTS RESERVE
Note 9f
0
0
0
50,000
50,000
0
50,000
FIXED ASSETS RESERVE
Note 5/9g
0
0
0
6,092
6,092
244,975
251,067
TOTAL
587,552
510,185
77,367
4,109
81,477
430,262
511,739
RESTRICTED FUNDS
Income
Expenditure Net Income/
Expenditure
Transfers
between
Funds
Net
Movement
in Funds
BALANCE
BROUGHT
FORWARD
BALANCE
CARRIED
FORWARD
£
£
£
£
£
£
£
CAPITAL PROJECTS FUND
68,750
32,808
35,942
-4,109
31,832
0
31,832
OUTWARD GIVING
Note 14
18,100
18,100
0
0
0
0
0
TOTAL
86,850
50,908
35,942
-4,109
31,832
0
31,832

Page 20 of 23

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2020

At the year end, there were 8 full and part-time employees (2019 – 8). The Church currently has a stakeholder defined contribution pension scheme administered by AVIVA for its employees. Total staff costs are detailed below:

2020 2019
£ £
Staff Salaries 129,471 143,554
Employer’s National Insurance 6,189 8,056
Employer's Pension contributions 11,935 14,270
147,595 165,880

The Vicar and Curate’s salaries are not included in these staff costs. The stipends of the Vicar and Curate are paid by the Diocese through the Clergy Payroll Scheme operated by the Church of England, which also makes provision for Clergy pensions. The Parish Share paid to the Diocese in 2020 totalled £135,738 (2019 - £143,483) and covers salary costs and other Diocesan expenses.

No employee received remuneration of more than £60,000 in 2020 or 2019.

In the opinion of the PCC the ‘Key Management personnel’ are the incumbent who is paid through the diocese.

11 COMMITMENTS UNDER OPERATING LEASES

At 31 December 2020 the PCC had future minimum lease payments under non-cancellable operating leases as follows:

Operating Lease Commitments

Disclosure
Not later than 1 year
Later than 1 year and not later than 5 years
After 5 Years		 2020
2019
£792
£1,056
£0
£792
£792
£1,848

Page 21 of 23

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2020

12 TRANSACTIONS INVOLVING RELATED PARTIES

The expenses paid to clergy may include a small, immaterial proportion which relates to their function as PCC members. All clergy received reimbursement of church-business expenses totalling on an asincurred basis: Rev Simon Vibert £1,356 (2019 – £2,072), Rev Simon Willetts £0 (2019 - £921), Rev Jeremy Brown £103 (2019 – £534), Rev Vincent Murphy £374. Apart from the above, no remuneration or expenses have been paid to any members of the PCC.

A salary, including Employers National Insurance and Pension Contributions, of £14,140 (2019 - £14,056) was paid to Staff Member Caroline Vibert, wife of Vicar Simon Vibert.

Sarah Banks, daughter of PCC member Margaret Banks, received a salary, including Employers National Insurance and Pension Contributions, of £20,069 (2019 - £16,842).

PCC Member Andrew Pereira is a Trustee of Mission Partner Peacemaker Mediators which received a £4,800 Outward Giving Fund grant.

The aggregate donations from Related Parties (PCC members and their immediate families) during 2020 was £59,440 (2019 - £67,930)

Page 22 of 23

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2020

**14 ** 2019
OUTWARD GIVING
GENERAL FUND
RESTRICTED
FUNDS
TOTAL
TOTAL
£
£
£
£
Amos Trust
4,800
0
4,800
5,250
A Rocha
4,140
0
4,140
4,440
Church Missionary Society
5,904
0
5,904
6,000
Compassion
4,800
0
4,800
5,250
Open Doors
4,140
0
4,140
4,440
Peacemaker Mediators
4,800
0
4,800
5,250
Tear Fund
4,140
0
4,140
4,440
UFM
3,000
3,000
0
International Mission Partners
35,724
0
35,724
35,070
David & Esther Wood Intl Ministry
0
0
0
875
Kijabe (V Priestley Mission)
0
0
0
19,725
Simon Vibert Mission Trip
0
0
0
974
New Generation Burundi
0
0
0
200
Other International Mission
0
0
0
21,774
35,724
0
35,724
56,844
UK Mission & Development
East to West Trust
4,800
0
4,800
5,250
UCCF
2,340
0
2,340
4,416
UK Mission Partners
7,140
0
7,140
9,666
Foodbank
2,500
0
2,500
0
RHUL Christian Union
100
0
100
0
Exeter Christian Union
0
0
0
300
Other UK Mission
2,600
0
2,600
300
9,740
0
9,740
9,966
Other Charities & Individuals
0
0
0
1,450
45,464
0
45,464
68,260
2020
International Mission & Development		 2019
OUTWARD GIVING
GENERAL FUND
RESTRICTED
FUNDS
TOTAL
TOTAL
£
£
£
£
Amos Trust
4,800
0
4,800
5,250
A Rocha
4,140
0
4,140
4,440
Church Missionary Society
5,904
0
5,904
6,000
Compassion
4,800
0
4,800
5,250
Open Doors
4,140
0
4,140
4,440
Peacemaker Mediators
4,800
0
4,800
5,250
Tear Fund
4,140
0
4,140
4,440
UFM
3,000
3,000
0
International Mission Partners
35,724
0
35,724
35,070
David & Esther Wood Intl Ministry
0
0
0
875
Kijabe (V Priestley Mission)
0
0
0
19,725
Simon Vibert Mission Trip
0
0
0
974
New Generation Burundi
0
0
0
200
Other International Mission
0
0
0
21,774
35,724
0
35,724
56,844
UK Mission & Development
East to West Trust
4,800
0
4,800
5,250
UCCF
2,340
0
2,340
4,416
UK Mission Partners
7,140
0
7,140
9,666
Foodbank
2,500
0
2,500
0
RHUL Christian Union
100
0
100
0
Exeter Christian Union
0
0
0
300
Other UK Mission
2,600
0
2,600
300
9,740
0
9,740
9,966
Other Charities & Individuals
0
0
0
1,450
45,464
0
45,464
68,260
2020
International Mission & Development
974
200
21,774
56,844
5,250
4,416
9,666
0
0
300
300
9,966
1,450
68,260

Notes

• There were no Individual restricted donations during 2020 (2019 - £18,100 were passed to the appropriate charities or individuals with Gift Aid added as appropriate).

Page 23 of 23