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2021-12-31-accounts

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH

VIRGINIA WATER

REPORT AND ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2021

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

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CHRIST CHURCH VIRGINIA WATER

REPORT AND ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2021

PRINCIPAL OFFICE

Christ Church Christchurch Rd Virginia Water Surrey GU25 4PT

VICAR: Rev. Dr. Simon Vibert CURATE: Rev. Vincent Murphy CHURCH WARDENS: Mrs. Alison Barnes, Mr. George Gilbert

PCC MEMBERS at 31 Dec 2021: Mr. Roger Blain, Rev. Jeremy Brown, 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

Janice Matthews, FCA Chartered Accountant Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF

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CHRIST CHURCH VIRGINIA WATER

REPORT AND ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2021

CONTENTS
PAGE
Structure, Governance and Management 4
Membership of the PCC 4
Trustees Annual Report for 2021 5
Independent Examiner’s Report 10
Statement of Financial Activities 11
Balance Sheet 12
Statement of Cash Flows 13
Notes to the Financial Statements
1. Parochial Church Council 14
2. Accounting Policies 14
3. Income 16
4. Expenditure 17
5. Fixed Assets for use by the PCC 18
6. Debtors 19
7. Creditors (Liabilities) 19
8. Analysis of Net Assets by Fund Type 19
9. Funds 20
10. Staff Costs 22
11. Commitments under Operating Leases 22
12. Transactions involving Related Parties 23
13. Outward Giving (Grants) 24

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

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 seven 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 * Self-Supporting Pastor: Rev. Steve Beak Churchwardens: Mr. George Gilbert * Mrs. Alison Barnes PCC Secretary: Mrs. Anne Martin ** Safeguarding Officer: Mrs. Pamela Unwin Representatives on the Dr. Margaret Perkins Deanery Synod: Mrs. Annette Ross Mrs. Pamela Unwin Mrs. Lynn Eastlund (from APCM) Elected Members: Mrs. Pamela Unwin* (from APCM) Mrs. Elizabeth Retenais (from APCM) Mr. Colin Rye Mr. Roger Blain Dr. Margaret Perkins Mr. Akeel Sachak Mr. Ken Edwards (until APCM) Mrs. Ali Scott Mr. Rod Whitehead *

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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 11 Mission Partners offering both practical involvement and regular financial support in the form of grants (Note 13, page 24). 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 two 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 2021

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 177 (186 in 2020) and the average weekly attendance at Sunday services was 194 (194 in 2020). The 2021 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 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. We run regular Good News Café’ lunches at the church open to anyone in the local community. We have also arranged a number of events within the community during the year.

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.

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

Trustees’ Annual Report for the Year Ended 31 December 2021 (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 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 2021 were altered, as was the case in 2020. These changes have been more dramatic than they have for many decades.

From March 2020 until September 2021 church activities that involve close personal inter-action, namely the Sunday clubs for children, the toddler groups on Wednesdays and the Good News Café for seniors and others in the community on Thursdays, all had to stop. Church services moved immediately online without interruption from January 2021 until 21 March 2021, when in person services were gradually reintroduced. From June 2020 until the end of 2021, we operated a hybrid model with people able to attend a live service with strict social distancing, and this service being available online to anyone wishing to stay at home.

The online technology adopted was live streaming via YouTube supported with Zoom meetings for discussion and fellowship. All YouTube broadcasts are available for live and delayed viewing via Christ Church’s YouTube channel.

Development of our Vision: Some of our plans to put our vision into action have had to be delayed or curtailed. Below are some of the highlights of what we have done to further the vision.

Reaching & Growing: Simply maintaining contact with the church family in such unprecedented times has been a major challenge. In addition to the hybrid 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 allow people living some way from the church to connect with us.

Maturing & Equipping: A particular emphasis has been placed on encouraging people to join home groups, which continued to explore the Bible via Zoom meetings. Since September 2021 most home groups have started meeting in person again. A similar pattern has been the case for Discipleship courses, youth, and student groups. Children were catered for via a separate Children’s YouTube teaching video every Sunday for some months, then from September 2021 the Sunday clubs for children re-commenced.

Influencing & Caring: Throughout the pandemic we have tried to ensure that church members living on their own and elder church members have not been isolated or unable to access healthcare & food. Clergy & volunteers phoned them, and many errands have been run. We also connected with the Virginia Water Community Support Group and the local Foodbank, with church members and staff volunteering for both.

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CHRIST CHURCH VIRGINIA WATER

Trustees’ Annual Report for the Year Ended 31 December 2021 (Continued)

2. Activities to achieve the objectives (continued)

Many of these initiatives 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. During the year, with the help of external consultants, we developed a brand-new website with better functionality which was launched at the end of 2021.

Serving & Sharing: There has been an increase in volunteering in the community and in simple acts of neighbourly love as the church family responded to local needs. However, volunteering at church has reduced because some church members have been shielding from the virus. 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 a deficit of £58,000 on the General Reserve fund, partly due to lower projected giving and partly due to an increase in Property Repairs from £15,300 in 2020 to a budgeted £32,000 in 2021 as we needed to repair the church tower and spire. In the end the total cost of repairs to the tower and spire were £34,184, and the total spend on repairs & maintenance from unrestricted funds was £43,127. In addition, we used up most of the remaining balance on the restricted Capital Projects Reserve to cover the £13,363 cost of extensive repairs to the nave ceiling.

Despite these very high property costs, the deficit on the General Reserve ended up at only £14,166, and this was reduced to £4,166 by a £10,000 transfer from our One-Off Gift Reserve. This better-than-expected outcome was thanks to expenditure being lower than budget in the second half of the year, and income being higher due mainly to some unpledged one-off gifts towards the end of 2021. The lower expenditure was mainly because we had budgeted for a full resumption of activities in the second half of 2021, whereas they remained restricted due to coronavirus considerations.

We started the year with an unrestricted One-Off Gift Reserve of £50,000, which we established in 2019 when we had an unusually large number of one-off gifts. The PCC decided to spread the use of these funds over several years. We have now used £10,000, and we anticipate using about £20,000 in 2022.

During the year we received a gift of £20,000, of which £13,133 was used to cover the cost of a new website and re-branding initiative, and £6,867 was used to help cover the costs of the repairs to the tower and spire. We also received a gift of £10,000 where the donor expressed a preference for the money to be spent on Music Ministry.

Set out below are the changes we have seen on each of our reserves. For 2021 we have seen a £19,088 reduction in our reserves, compared to a £16,849 increase in our reserves in 2020. Total Reserves amounted to £541,333 at 31 December 2021 (2020 - £560,421). Of these, £279,834 (2020 - £284,408) is invested in fixed assets leaving £261,499 (2020 - £276,013) in current assets.

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

Trustees’ Annual Report for the Year Ended 31 December 2021 (Continued)

  1. Financial Report (continued)

Change in Reserve Funds

Change in Reserve Funds
Change in General Fund
Decrease in One-Off Gift Reserve
Change in Legacy Fund
Change in Property Repair Fund
Change in Outward Giving Fund
Change in Fixed Asset Reserve
Increase in Asset Replacement Reserve
Total Change in Unrestricted Funds
Restricted - Capital Projects Fund
Restricted - Music Ministry Fund
Total Change in Reserves		 2021
2020
£
£
-4,166
19,734
-10,000
0
0
-15,913
-2,815
1,158
-620
-3,964
-4,574
33,341
4,690
0
-17,485
34,356
-11,603
-17,507
10,000
0
-19,088
16,849

When we look at our £261,393 reserves represented by current assets, note that £2,722 is in the Restricted Capital Projects Fund, £10,000 is in the Restricted Music Ministry Fund and £79,830 is unrestricted but designated for specific purposes as follows:

Outward Giving £2,070
Property Repairs £556
Asset Replacement £4,690
Church Extension £72,514

This leaves ‘free’ reserves (not tied up in fixed assets or already committed) of £168,840 (2020 - £181,320).

Reserves Policy

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 significant deficit in 2022, 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.

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

Trustees’ Annual Report for the Year Ended 31 December 2021 (Continued)

Risk Assessment

Risk assessments are carried out for all activities where the PCC has responsibility. The principal policy document (Health & Safety), which sets out the main risks to which the Church is exposed, was updated and approved by the PCC in March 2020. It relates to fire, lightning strike, food safety, electrical appliances, gas appliances, and others. Additional risk assessments are regularly completed and amended including a specific update in September 2020 with measures to mitigate the risk of Covid. Risk Assessments are reviewed each time a variation in activity takes place, and pre-approved by a subcommittee of the PCC before being presented to the PCC. Safeguarding of children and vulnerable adults is a specialized 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 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 15[th] March 2022

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

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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 2021.

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.

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 am 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 Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 2019.

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.

Janice Matthews FCA Menzies LLP Chartered Accountants Date:29-Mar-2022

Centrum House 36 Station Road Egham Surrey TW20 9LF

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER - Statement of Financial Activities (Incorporating Income and Expenditure Account)

For the Year Ended 31 December 2021

2021 2021 2020 2020
UNRESTRICTED RESTRICTED TOTAL UNRESTRICTED RESTRICTED TOTAL
FUNDS FUNDS FUNDS FUNDS
NOTES
£		 £ £ £ £ £
INCOME FROM:-
Donations and Legacies 3a 393,538 25,008 418,546 414,600 0 414,600
Church Activities 3b 7,912 0 7,912 14,448 0 14,448
Other Trading Activities 3c 10,048 0 10,048 12,000 0 12,000
Investments 3d 1,329 0 1,329 2,720 0 2,720
Total Income 412,827 25,008 437,835 443,768 0 443,768
EXPENDITURE ON (page 18)
Church Activities
Outward Giving Grants 4a & 13 36,620 0 36,620 45,464 0 45,464
Work of Church 4b 306,759 26,496 333,255 289,568 0 289,568
Church Management 4c 87,048 0 87,048 91,886 0 91,886
Total Expenditure 430,427 26,496 456,923 426,919 0 426,919
Net Income/Expenditure -17,600 -1,488 -19,088 16,849 0 16,849
Transfers Between Funds 115 -115 0 17,507 -17,507 0
Gains & Losses on Investments 0 0 0 0 0 0
Net Movement in Funds -17,485 -1,603 -19,088 34,356 -17,507 16,849
Balances brought forward at 9 546,096 14,325 560,421 511,739 31,832 543,571
1 January 2021
Balances carried forward at 528,611 12,722 541,333 546,096 14,325 560,421
31 December 2021

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCHVIRGINIA WATER

Balance Sheet as at 31 December 2021

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		 2020
£
£
279,940
286,200
5,821
13,145
281,272
273,597
287,093
286,742
25,700
12,521
261,393
274,221
541,333
560,421
528,611
546,096
12,722
14,325
2021
560,421
541,333		 2020
£
£
279,940
286,200
5,821
13,145
281,272
273,597
287,093
286,742
25,700
12,521
261,393
274,221
541,333
560,421
528,611
546,096
12,722
14,325
2021
560,421
541,333
286,200
13,145
273,597
286,742
12,521
274,221
560,421
546,096
14,325
560,421

Approved by the Parochial Church Council on 15[th] March 2022 and signed on its behalf by:

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

The notes on pages 13-24 form part of these accounts.

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

STATEMENT OF CASH FLOWS 2021 FUNDS 2021 FUNDS 2020 FUNDS 2020 FUNDS Note
£ £
Cash Flows from operating activities:
Net Cash provided by (used in) operating activities 6,462 13,459 CF1
Cash Flows from investing activities:
Dividends, interest and rents from investments 1,329 2,720
Purchase of fixed assets (115) (33,341)
Net cash provided by (used in) investing activities 1,213 (30,621)
Cash Flows from financing activities:
Net cash provided by (used in) financing activities 0 0
Change in cash and cash equivalents in period 7,676 (17,162)
Cash and cash equivalents at the beginning of period 273,597 290,758 CF2
Cash and cash equivalents at end of the period 281,273 273,597 CF2
CF1 RECONCILATION OF NET INCOME/(EXPENDITURE) TO 2021 2020
NET CASH FLOW FROM OPERATING ACTIVITIES
£ £
Net income for the period (as per SOFA) (19,088) 16,849
Adjustments for:
Depreciation charges 6,376 771
Dividends, interest and rents from investments (1,329) (2,720)
Decrease/(Increase) in debtors 7,324 (3,420)
Increase in creditors 13,179 1,979
Net cash provided by (used in) operating activities 6,462 13,459
CF2 Analysis of cash and cash equivalents 2021 2020
£ £
Cash in hand 281,272 273,597
Total cash and cash equivalents 281,272 273,597
CF3 Analysis of changes in net debt
At start of year Cashflows At end of year
£ £ £
Cash 273,597 7,675 281,272
Total 273597 7,675 281272

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2021

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 Charities SORP (FRS 102) – Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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 in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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.

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.

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2021

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, or 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.

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

2.6 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.

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DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2021

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.

3
INCOME FROM
Notes
UNRES
FU
3a
Donations and Legacies
Gift Aid Donations
9b
Income Tax Recovered
9b
Gross Giving (CAF & Similar)
Other Giving
9b/3e
Government Grants
Cash
Legacies
Miscellaneous Income
3b
Church Activities
Magazine
Book Stall
Fees
Events
Other Income
3c
Other Trading Activites
Centre Lettings
3d
Investments
Dividends & Interest
TOTAL INCOME*		 TRICTED
RESTRICTED
NDS
FUNDS
£
£
260,677
1,500
67,567
375
36,664
0
28,159
23,133
0
0
0
0
0
0
471
0
393,538
25,008
0
0
110
0
4,676
0
0
0
3,126
0
7,912
0
10,048
0
1,329
0
412,827
25,008
2021		 TOTAL
UNRE
F
£
262,177
67,942
36,664
51,292
0
0
0
471
418,546
0
110
4,676
0
3,126
7,912
10,048
1,329
437,835		 2020
STRICTED
RESTRICTED
TOTAL
UNDS
FUNDS
£
£
£
274,373
0
274,373
68,518
0
68,518
37,107
0
37,107
19,869
0
19,869
13,882
0
13,882
0
0
0
0
0
0
850
0
850
414,600
0
414,600
5,304
0
5,304
211
0
211
3,976
0
3,976
1,316
0
1,316
3,641
0
3,641
14,448
0
14,448
12,000
0
12,000
2,720
0
2,720
443,768
0
443,768

3e The allocation between Gross Giving and Other Giving has been changed in the 2020 comparatives.

Page 16 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2021

4
EXPENDITURE ON
UNRE
NOTES
F
CHURCH ACTIVITIES
4a
Outward Giving Grants
13
International Mission & Devt
UK Mission & Development
Other Charities & Individuals
4b
Work of Church
Parish Share
10
Staff Team Salaries
10
Staff Team Expenses
12
Apprenticeship Scheme Costs
Accommodation
Church Running Expenses
Church Property Maintenance
9b
Minibus
Upkeep of Services
Magazine
Bookstall
Ministry Costs
Staff Training
Fees Payable to Diocese
IT Equipment & Depreciation
Events
Kitchen
Publicity
Website & Branding
4c
Church Management (Support Costs)
Salaries
10
Administration
Bank Charges, Payroll Costs
Independent Examination
Accountancy
Total Expenditure		 2021
STRICTED
RESTRICTED
UNDS
FUNDS
£
£
30,420
0
6,200
0
0
0
36,620
0
142,041
0
57,849
0
2,857
0
0
0
16,800
0
17,168
0
43,127
13,363
1,562
0
331
0
0
0
385
0
7,953
0
906
0
1,607
0
12,732
0
100
0
330
0
1,010
0
0
13,133
306,759
26,496
80,233
0
2,212
0
1,510
0
2,622
471
0
87,048
0
430,427
26,496		 2021
STRICTED
RESTRICTED
UNDS
FUNDS
£
£
30,420
0
6,200
0
0
0
36,620
0
142,041
0
57,849
0
2,857
0
0
0
16,800
0
17,168
0
43,127
13,363
1,562
0
331
0
0
0
385
0
7,953
0
906
0
1,607
0
12,732
0
100
0
330
0
1,010
0
0
13,133
306,759
26,496
80,233
0
2,212
0
1,510
0
2,622
471
0
87,048
0
430,427
26,496
RICTED
NDS
£
0
0
0
0
0
0
0
0
0
0
13,363
0
0
0
0
0
0
0
0
0
0
0
13,133
26,496
0
0
0
0
0
26,496

Page 17 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2021

5
FIXED ASSETS FOR USE BY PCC
TANGIBLE FIXED ASSETS
FRE
L
BUI
Costs
Brought forward at 1 Jan 2021
Additions
Disposals
At 31 December 2021
Depreciation
Brought forward at 1 Jan 2021
Charge for year
Disposals
At 31 December 2021
Net Book Value at
31 December 2021
Net Book Value at
31 December 2020		 EHOLD
AND &
LDINGS
AV & COMPUTER
EQUIPMENT
MINI
£
£
251,166
17,421
0
0
0
0
251,166
17,421
5,795
0
0
2,904
0
0
5,795
2,904
245,371
14,518		 EHOLD
AND &
LDINGS
AV & COMPUTER
EQUIPMENT
MINI
£
£
251,166
17,421
0
0
0
0
251,166
17,421
5,795
0
0
2,904
0
0
5,795
2,904
245,371
14,518		 BUSES
KITCHEN
EQUIPMENT
CCTV
SOLAR
£
£
£
20,880
9,907
5,880
0
0
115
0
0
0
20,880
9,907
5,995
19,508
9,487
0
1,372
314
999
0
0
0
20,880
9,801
999
0
106
4,996		 PANELS
T
£
15,736
0
0
15,736
0
787
0
787
14,949		 OTAL
£
320,990
115
0
321,105		 OTAL
£
320,990
115
0
321,105
34,790
6,376
0
41,165
279,940		 34,790
6,376
0
41,165
245,371 17,421 1,372
420
5,880		 15,736 286,200

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 18 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2021

----- Start of picture text -----
2021 2020
£ £
4,527 10,994
896 885
399 680
0 586
5,821 13,145
----- End of picture text -----

6 DEBTORS

Tax Recoverable Other Debtors Interest Accrued Prepayments

----- Start of picture text -----
2021 2020
£ £
1,928 2,547
4,323 5,889
2,622 2,460
16,827 1,625
25,700 12,521
----- End of picture text -----

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

Deferred Income at 1 January 2021
Amounts released to income
Amounts deferred in the year
Deferred Income at 31 December 2021
ANALYSIS OF NET ASSETS BY FUND
Tangible Fixed Assets
Current Assets
Current Liabilities		 1,625
(1,625)
16,827
16,827
Unrestricted
Funds
Restricted
Funds
Total
Unrestricted
Funds
Unrestricted
Funds
Restricted
Funds
£
£
£
£
£
£
279,940
0
279,940
286,200
0
286,200
274,371
12,722
287,093
272,417
14,325
286,742
-25,700
0
-25,700
-12,521
0
-12,521
528,611
12,722
541,333
546,096
14,325
560,421
2021
2020		 1,625
(1,625)
16,827
16,827
Unrestricted
Funds
Restricted
Funds
Total
Unrestricted
Funds
Unrestricted
Funds
Restricted
Funds
£
£
£
£
£
£
279,940
0
279,940
286,200
0
286,200
274,371
12,722
287,093
272,417
14,325
286,742
-25,700
0
-25,700
-12,521
0
-12,521
528,611
12,722
541,333
546,096
14,325
560,421
2021
2020
2020

Page 19 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2021

9
9a
9b		 FUNDS- 2021
UNRESTRICTED &
DESIGNATED FUNDS
GENERAL FUND
OUTWARD GIVING
CHURCH PROPERTY REPAIR
Note 9c
LEGACY FUND
Note 9e
CHURCH EXTENSION
Note 9d
ONE-OFF GIFTS RESERVE
Note 9f
FIXED ASSETS RESERVE
Note 5/9g
ASSET REPLACEMENT
RESERVE
TOTAL
RESTRICTED FUNDS
CAPITAL PROJECTS FUND
MUSIC MINISTRY FUND
WEBSITE & BRANDING
TOTAL		 Income
Expenditure
Net Income/
Expenditure
Transfers
between
Funds
Net
Movement
in Funds
BALANCE
BROUGHT
FORWARD
BALANCE
CARRIED
FORWARD
£
£
£
£
£
£
£
404,514
350,680
53,834
-58,000
-4,166
133,112
128,946
0
36,620
-36,620
36,000
-620
2,690
2,070
8,312
43,127
-34,815
32,000
-2,815
3,371
556
0
0
0
0
0
0
0
0
0
0
0
0
72,514
72,514
0
0
0
-10,000
-10,000
50,000
40,000
0
0
0
-4,574
-4,574
284,408
279,834
0
0
0
4,690
4,690
0
4,690
412,827
430,427
-17,600
115
-17,485
546,096
528,611
Income
Expenditure
Net Income/
Expenditure
Transfers
between
Funds
Net
Movement
in Funds
BALANCE
BROUGHT
FORWARD
BALANCE
CARRIED
FORWARD
£
£
£
£
£
£
£
1,875
13,363
-11,488
-115
-11,603
14,325
2,722
10,000
0
10,000
0
10,000
0
10,000
13,133
13,133
0
0
0
0
0
25,008
26,496
-1,488
-115
-1,603
14,325
12,722

Page 20 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2021

9
9a
9b		 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
511,740
546,096
RESTRICTED FUNDS
Income
Expenditure
Net Income/
Expenditure
Transfers
between
Funds
Net
Movement in
Funds
BALANCE
BROUGHT
FORWARD
BALANCE
CARRIED
FORWARD
£
£
£
£
£
£
£
CAPITAL PROJECTS FUND
0
0
0
-17,507
-17,507
31,832
14,326
TOTAL
0
0
0
-17,507
-17,507
31,832
14,326

Page 21 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2021

At the year-end, there were 7 full and part-time employees (2020 – 8). The Church currently has a stakeholder defined contribution pension scheme administered by AVIVA for its employees. Total staff costs are detailed below:

2021 2020
£ £
Staff Salaries 121,334 129,471
Employer’s National Insurance 4,688 6,189
Employer's Pension contributions 12,060 11,935
138,082 147,595

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 2021 totalled £142,041 (2020 - £135,738) and covers salary costs and other Diocesan expenses.

No employee received remuneration of more than £60,000 in 2021 or 2020.

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 2021 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		 2021
2020
£1,079
£792
£5,243
£0
£0
£0
£6,322
£792

Page 22 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER Notes to the Financial Statements For the Year Ended 31 December 2021

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 £2,106 (2020 – £1,356), Rev Jeremy Brown £446 (2020 – £103), Rev Vincent Murphy £305 (2020 - £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 £7,525 (2020 - £14,140) was paid to Staff Member Caroline Vibert, wife of Vicar Simon Vibert.

The aggregate donations from Related Parties (PCC members and their immediate families) during 2021 was £120,651 (2020 - £59,440).

Page 23 of 24

DocuSign Envelope ID: 2C1DE59D-DFC5-4C4A-9EA5-F41F6DB56046

CHRIST CHURCH VIRGINIA WATER

Notes to the Financial Statements For the Year Ended 31 December 2021

**13 ** 2020
OUTWARD GIVING
GENERAL FUND
RESTRICTED
FUNDS
TOTAL
TOTAL
£
£
£
£
Amos Trust
4,200
0
4,200
4,800
A Rocha
3,480
0
3,480
4,140
Church Missionary Society
5,400
0
5,400
5,904
Compassion
4,200
0
4,200
4,800
Open Doors
3,480
0
3,480
4,140
Peacemaker Trust
4,200
0
4,200
4,800
Tear Fund
3,480
0
3,480
4,140
UFM
1,980
1,980
3,000
International Mission Partners
30,420
0
30,420
35,724
Other International Mission
0
0
0
0
30,420
0
30,420
35,724
UK Mission & Development
East to West Trust
4,200
0
4,200
4,800
UCCF
1,500
0
1,500
2,340
UK Mission Partners
5,700
0
5,700
7,140
Foodbank
0
0
0
2,500
RHUL Christian Union
0
0
0
100
Malcolm Trinity Church
250
0
250
0
A Passion for Life
250
0
250
Other UK Mission
500
0
500
2,600
6,200
0
6,200
9,740
Other Charities & Individuals
0
0
0
0
36,620
0
36,620
45,464
2021
International Mission & Development		 2020
OUTWARD GIVING
GENERAL FUND
RESTRICTED
FUNDS
TOTAL
TOTAL
£
£
£
£
Amos Trust
4,200
0
4,200
4,800
A Rocha
3,480
0
3,480
4,140
Church Missionary Society
5,400
0
5,400
5,904
Compassion
4,200
0
4,200
4,800
Open Doors
3,480
0
3,480
4,140
Peacemaker Trust
4,200
0
4,200
4,800
Tear Fund
3,480
0
3,480
4,140
UFM
1,980
1,980
3,000
International Mission Partners
30,420
0
30,420
35,724
Other International Mission
0
0
0
0
30,420
0
30,420
35,724
UK Mission & Development
East to West Trust
4,200
0
4,200
4,800
UCCF
1,500
0
1,500
2,340
UK Mission Partners
5,700
0
5,700
7,140
Foodbank
0
0
0
2,500
RHUL Christian Union
0
0
0
100
Malcolm Trinity Church
250
0
250
0
A Passion for Life
250
0
250
Other UK Mission
500
0
500
2,600
6,200
0
6,200
9,740
Other Charities & Individuals
0
0
0
0
36,620
0
36,620
45,464
2021
International Mission & Development
0
45,464

Notes

Page 24 of 24