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2021-12-31-accounts

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Annual Report and Financial Statements of the

Parochial Church Council of the Ecclesiastical Parish of

St John the Baptist, Egham

for the year ended 31 December 2021

Registered Charity number: 1130185 Address: High Street Egham, Surrey TW20 9HL Office: Easter Centre, Manor Farm Lane Egham, Surrey TW20 9HR Chair: The Reverend Esther Prior Deputy Chairman: Keith Malcouronne FCA Treasurer: Chris Gray FCA Bankers: National Westminster Bank plc 50 High Street Egham, Surrey TW20 9EU Registered Auditor: Menzies LLP Chartered Accountants Centrum House 36 Station Road Egham, Surrey TW20 9LF

Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

2021 Annual Report of the Parochial Church Council of the Ecclesiastical Parish of St John the Baptist Egham

The Parochial Church Council (“PCC”) is a corporate body established by the Church of England and is also registered as a charity, number 1130185. It is a public benefit entity under the Charities Acts.

Members and Charity Trustees of the PCC

Members are either ex-officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules. Under those rules, lay representatives on the PCC are ordinarily expected to serve for a term of three years, with a third of the lay representatives elected each year. Training and induction of new members is the focus of the first meeting of each new PCC.

The following served as members throughout 2021 unless otherwise indicated:

Incumbent
Curate
Co-opted Members
Ex-officio members
Associate Ministers
Diocesan Synod
Representatives
Church Wardens
Deanery Synod
Representatives		 Revd Esther Prior
Chair
Revd James Ellin
Revd Michael Callaghan (excused)
Revd Simon Fraser
(excused)
Revd Matt Prior
(excused)
Revd Will Bissett
Mr Philip Holloway
Mr Sam Senanayake
Mr Keith Malcouronne
Deputy Chair
Mr Paul Kahn
Mr Conrad Benefield
Mrs Philomena Evans
Mrs Joyce Johnson
Mr Clement Jones
Ms Joanna Star
also Diocesan
Synod from 1 August		 Elected members
Mrs Debbie Benefield
Mrs Mel Cramer
Mr Stephen Cresswell
Mr Philip Darby
Mr Christopher Gray
Treasurer
Mrs Kamani Hewagama
elected 19 April
Ms Shamilka Hewagama *
PCC Secretary
Mrs Sara Holloway
Miss Grace Hopkins
stood down 19 April
Mrs Claire Jenkins
elected 19 April
Mr Steve Jenkins
Mr Christopher King
Mrs Sue Mahoney
stood down 21 September
Mrs Victoria Mcharo
stood down 19 April
Mr Michael Senanayake
Mrs Stacey Sobers
Mr Geoff Wickes
underlined
denotes Senior Management Personnel

*denotes a member of Standing Committee

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Structure, Governance and Management of the Charity

The following were Officers during 2021 in addition to those shown above:

Assistant Treasurer: Mr Alastair Marshall Partnership Secretary: Mrs Lesley Pocock to 19[th] April; Mr Phil Johnson from 19[th] April

Aims and objectives of the Council

The PCC is governed by the Parochial Church Councils (Powers) Measure and charged with:

The PCC met 6 times during the year with an average attendance of 23 members (85%).

Operating Mechanisms

While the PCC has ultimate responsibility for running the church, and the Wardens and other Officers are engaged in many day to day activities, the paid employees undertake themselves, as well as lead volunteers, in much of the church ’ s work. The PCC however sets budgets, agrees appointments and together with the vicar determines the aims and objectives of the church and the broad guidelines to be followed.

The remuneration of key management of the church is not specifically determined by the PCC in that the Vicar, who is employed by our diocese of Guildford, is remunerated by and according to pay scales determined by them. The other key officers all act on a voluntary basis and receive no remuneration. Pay for all staff is set by the PCC and follows a review to determine the appropriate rate for the role. Pay increases reflect performance and consider guidance from the diocese. As stated in note 5, members of the PCC who are employed by the church or whose relatives are employed by the church, are excluded from any discussion on remuneration.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Vicar’s Reflections

Vision 2022

#nostoppingthischurch

The Journey so far

The priority in 2018 into 2019 was working on our Mission, Vision and Values. This led to an exciting process, with the prayer and hard work undertaken by the PCC leading to their launch at the Annual Parish Church Meeting (APCM) in 2019. What they have given us is a set of words and a framework that has proven to be fit for purpose - even at a time of crisis. Our mission statement inspires me, our values shape my actions and our vision gives me something to pray into. I think more and more that these have become part of our DNA as a church.

Having established our Mission, Vision and Values, the next big task was to build a Governance Structure that would help us move these ideals forward, enabling us to have a vehicle that was fit for purpose. Again, the PCC went to work and we were able to launch our new Governance Structure at our APCM in October 2019. The biggest impact so far has been the reshaping of our PCC meetings – with more structured reporting and focused workgroups overseeing different areas of our church life.

In 2021 we turned our attention to our internal communications strategy and tools. This is very much a work in progress – but with new administrative tools (Churchsuite and 365), new way of doing church notices and refocusing our Admin tasks to include creative communication – the ground has been set and we hope to build on this in 2022. The aim is for the whole church family to feel inspired and empowered through improved information-sharing as we develop the effectiveness of our communications.

Alongside this, the emphasis in 2022 will be on the third strand of our Mission Statement: Love our Community. There are exciting plans ahead – read on. For your participation and prayers…

I was really struck recently that Jesus has the signs of the crucifixion after the resurrection. He is the God of the scars. Broken and yet empowered. And that pattern of grace is repeated in our lives. We are resurrection people, broken, yet empowered. Will Bissett shared one of those quotation pictures recently which said: ‘Pessimist - cup half empty. Optimist - cup half full. Psalmist - my cup runneth over.’ I recognise myself as a ‘cup runneth over’ kind of person, even after the last couple of years. I think it's because one attribute of God that I have been clinging to is his faithfulness. He has a track record of faithfulness: so in rain and sunshine, through thick and thin, I tend to think ‘even though I walk through the Valley of the shadow of death, my cup runneth over…’

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

As such, there will be a lot to celebrate in this report. But first, I want to acknowledge that many of us bear the scars of the last two years. I often say it's really important to own that. To name it and to find safe places to process the challenges that life throws our way. As I said recently, the challenge thereafter is to look up and see God in all his faithfulness. Whichever way I look - as I reflect on 2021 - as the Vicar of Saint John's church in Egham, I want to say that he has showered us with grace and proven his faithfulness.

As we look back to 2021, we find much to celebrate. #nostoppingthischurch remained our modus operandi as we continued to push on all fronts in ministry and mission. I will let Team leaders tell the story in their own words in their reports, below is but a glimpse into the amazing work of St. Johns, Egham (SJE) over the last year:

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Quick look at last year’s Goals

1. Teaching √

2. Sustainability √ – on track with the Eco Team bringing a report to the APCM 3. Hybridity √

4. Governance – ongoing with good progress made

5. Radical Inclusion – Ongoing. About 50 people engaged in Unconscious Bias Training. Human Sexuality and Identity conversation still a subject for prayer, to discern how, what and when.

Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Looking Ahead

We will continue to be about our Father’s business as we love God, love one another and love our community and strive towards our vision of ‘a loving and growing community released and empowered to join in God's work of proclaiming and demonstrating the good news to Egham and beyond.’

Return | Restore | Refresh | Rebuild | Renew | Revive | Rest

I may be overly influenced by the current themes of our 24/7 prayer – but I think the above will frame what I believe God wants to do among us this year.

1. Teaching

This year's programme is framed around this idea of Returning, Restoring, Refreshing, Rebuilding, Renewing and Reviving our identity and purpose. In His Image : At a time when a lot, maybe even everything, that we have known has been shaken, it feels really important I think to cling to the things that remain the same. And this series will help us to do that. In a sense, God’s will for our lives – being conformed to the image of Christ – remains the same. Whatever our circumstances. We are on a journey, asking who should we be. The answer doesn’t come from some form of inner gazing and self-study – but upper gazing and God-study. The answer rises from who God is. Holy Habits : The ancient spiritual disciplines of Bible Teaching, fellowship, breaking bread, prayer, eating together, generosity, making more disciples worship and serving will help form us more and more into the image of Christ. Mission and Evangelism: As we explore our purpose, we will not only revisit our Mission Statement in our Commanded and Commissioned series – we will also have a series on evangelism which will culminate in a Mission Week

2. Prayer

At the start of the Pandemic, I asked you to join me in praying for a bigger church. One with a bigger view of who God is. A bigger view of who we are in him. A bigger heart for our community. And physically bigger, as more people discover the Gospel of Grace through Faith in Christ alone as testified in scripture to the glory of God. This remains the cry of my heart. We will continue in being intentional about providing opportunities for prayer through our 24/7 weeks, First Priority (which is now hybrid) and other initiatives. In particular, this year, I am calling for 24 people who are willing to commit to a designated hour – so that we can quickly call for a 24-hour period of prayer in response to a felt need. We might have called for prayer for the Ukraine, for example. If you would like to be one of the 24, please do let me know. I will commit to 7am to 8am.

3. Evangelism

Carrie, James, Grace and I enrolled on an Evangelism Course last November. It struck me, after the first session, that we signal that we think Stewardship is important by having as part of the rhythm of our lives together a ‘Stewardship Season’, which culminates in a ‘Gift Day’. We have indicated the primacy of prayer by putting in our diary seasonal 24/7 sessions. Evangelism became glaringly absent in the light of this. We want to correct this.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

We will be launching an ‘Evangelism Season’, which will take the same shape as our Stewardship Season – with Teaching on Sundays after Easter and the Mission Week as its culmination. For Mission Week, we will be looking to place an 'evangelistic spin' on the events we usually run, but hopefully will also add in some additional events in the week. So for example, Besom may want to expand its Thursday Lunch and invite clients and sponsors and have a couple of people share testimonies. Life Groups could decide to give out refreshments to travellers at the Train station. Wednesday Communion could partner with Hope Café and invite our local business community and so on.

We want to embed an invitational culture in which those who are far from Jesus are invited to follow the one who has revolutionized our lives.

4. Developing a Festival Town

At start off the year Mark Adams, chair of the Egham Town Team started to Google events – unbeknownst to me. He wanted to find hooks to draw the community together in celebration. Out of that came the Egham Literary Festival, which we are involved in as I write this. On my part I felt prompted to offer Christian Festivals as a way of celebrating together with our town. I had a dream of Egham becoming a festival town. So when I got in touch with Mark, we were amazed to see that we were on the same track. Obviously I see God's hand in that.

This has led to a very exciting initiative, endorsed by the wider Town Team whereby we will partner together and work towards Egham becoming a Festival town. Mark put it like this: ‘it's like we are creating an expansive space where everyone is welcome. Some may or may not want to immerse themselves in the full Jesus experience which will be on offer. Whether people do or not, there will be ample space for us to celebrate together as a community.’ You would have experienced the beginning of this partnership on Mothering Sunday. We hope to do the same for all the festivals going forward and pray that this will be a new tradition in Egham as we develop as a festival town.

Underpinning our hopes for the year is the conviction that that in God, we have all that we need, as our verse for the year reminds us:

And God is able to bless you abundantly, so that in all things at all times, having all that you need, you will abound in every good work. (2 Corinthians 9:8)

I remain confident of this: through the empowering presence of the Holy Spirit and our gospel partnership – God has given us everything we need to meet the challenges and opportunities of this hour. Will you be a part of the audacious gospel adventure ahead of us?

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Membership and attendance

There were 311 people on the Electoral Roll adopted in April 2021 (2020: 300), of whom 172 (2020: 172) were resident outside the parish.

Direct attendance comparisons between October 2019, October 2020 and October 2021 may be misleading due to restrictions and adaptations of life during the 2020-22 Covid pandemic. However, for the purposes of recording comparisons, physical attendance during Sundays in October 2021 averaged 192 adults and 43 children under 16, making a total of 235 (October 2020 averaged 104 adults and 16 children under 16, making a total of 120. October 2019 averaged 271 adults and 46 children under 16, making a total of 317).

The estimated number of people engaging online, either live or later on, in October 2021 was 336. The October 2020 figures were taken during a period when the church was permitted to be open for socially distanced, restricted, worship and do not include those engaging online. Based on data available, we believe we averaged an additional 283 households participating in services online, either live or in the period immediately afterwards.

Risks

As with most churches and charities, the majority of the PCC ’ s income is the result of voluntary giving. Over the years, especially with the focus on building the Easter Centre, we have seen faithful, sacrificial giving from a significant number of individuals, the majority who give through the Parish Giving Scheme and make and renew pledges through our annual Gift Day. The Finance & Stewardship Sub-Committee, ably supported by our Partnership Secretary, monitors the level of giving, the risk of being dependent on a small number of individuals, and undertake cashflow planning to ensure we can meet our obligations for day to day expenditure as well as the schedule of loan repayments.

The PCC recognises the challenge of having a major multi-year debt burden which could impinge on the immediate mission-based opportunities which require funding. Demonstrating good stewardship alongside faith-stretching financial challenges and recognition of past generosity and blessings, ensures our plans and budget do not stifle the work we feel called to undertake now, while ensuring we can meet our longterm obligations.

COVID-19 Impact

The impact of COVID-19 continued to be felt during 2021 as activities adapted to changing regulations, and the desire to ensure people could interact safely, while not feeling forgotten about.

The prolonged period of restrictions did impact the income we receive for use of the facilities but with our main income being from members who faithfully giving through bank transfers and the Parish Giving Scheme, the overall income held up well, especially recognising that some in our family have suffered financially also. Our Hardship Fund, established at the start of the pandemic, continued to receive generous donations of around £ 11,000 and we were able to give grants to help those in need of a similar amount, retaining a healthy balance for future support to individuals as well as potentially addressing broader, long term, issues of poverty.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Promoting a Safer Church

St John ’ s continues to be committed to providing a welcoming, respectful and safe environment for all, including children and adults who may be at risk of abuse and neglect. The care and protection of children, young people and adults involved in church activities is the responsibility of everyone who participates in the life of the church community. The Parochial Church Council (PCC) takes the requirement to ensure the safety of everyone extremely seriously.

All current and future safeguarding policies and practice guidance documents are available. We have adopted the Church of England safeguarding policies. These are all available via the Guildford Diocese website. As a Parish we now have a robust Safer Recruitment process in place and our Safer Recruitment pack will be ready for the APCM.

The Parish Dashboard

This is now live and we have already progressed to Level 2. Outstanding items are:

Cases reported over the past year:

There have been 16 concerns notified. 14 regarding Vulnerable Adults and 2 regarding Vulnerable Young People. Thankfully there have been no safeguarding concerns reported involving young children. The concerns are categorised as follows: Mental Health 4; Financial 3; General Health & Welfare 3; Domestic Abuse 2; Taken advantage of 2; Harassment 1; Behaviour 1

Parish Safeguarding Officer

Lorna Jamison Email: safeguarding@stjohnsegham.org.uk Tel: 07971 100530

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Statement of Trustees' Responsibilities

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy, the financial position of the charity, and which enable them to both ascertain the financial position of the charity and ensure that the financial statements comply with the applicable law, regulations, and trust deed. 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.

No payments were made to PCC members for services as Trustees (other than expense reimbursement).

Review of Financial Activities and Affairs

The PCC Accounts incorporate the activities of all groups operating under its auspices, segregated into those which are unrestricted (for use at PCC discretion) and those which are restricted (where the use has been specified by the donor). Total income for 2021 was £867,320 and expenditure £510,983, leaving Net Income of £356,337. These totals include Restricted Income of £320,164 including Gift Aid towards the Easter Centre related loans.

PCC General Fund

The General Fund comprises unrestricted funds under the direct control of the PCC, except those invested in freehold property, and so covers most normal operating income and expenditure. General Fund income for the year was £422,319 (2020: £377,304), which, excluding a significant legacy received, would have been lower than 2020 but still reflects a remarkable level of giving and is comparable with that of 2019.

The legacy came from the estate of Malcolm Bateman who contributed much to the life of our church, especially in areas of music and youth as well as a playing a key role in managing the finances for building the Easter Centre. Reflecting this, the PCC decided this legacy, totalling £92,610 should be used to reduce the Easter Centre debt (£60,000), create a Music & Worship Fund to support the development of music within the church (£30,000), with the residue to fund exploring ideas for enhancing the facilities in the Caddey. Needless to say we are thankful for the opportunities such a legacy provides.

The reduction in unrestricted expenditure at £332,902 (2020: £358,418) was primarily driven by one-time expenditures incurred in 2020 to make substantial renovations to the house used by the curate and family. The overall operating surplus of £89,417 (2020: £18,886), would have been a slight deficit without the benefit of the legacy and the PCC continue to exercise caution aligning costs to income.

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

St John's Church, Easter Centre, Manor Farm Lane Egham, Surrey, TW20 9HR

Fundraising standards, reserves, investment, and grants policies

Fundraising is conducted solely by volunteer members of St John’s, primarily through regular committed giving from church members and no appeals are made to the general public. Although we are not members of any regulatory scheme, the PCC follows the Code of Fundraising Practice established by the Fundraising Regulator. All teaching about Christian stewardship and generosity is scriptural with specific care taken that advantage is not taken of vulnerable members. Focus has been made on appropriate cash handling procedures and ensuring the trustees and those involved in fundraising are properly trained and the necessary procedures are followed.

It is the policy of the PCC to maintain a sufficient balance of cash reserves in its General Fund to cover between three and six months of current expenditure (so a minimum of £90,000). At the end of 2021 the General Fund had a balance of only £30,271, which with the Fabric & Repair Fund of £41,670 still leaves an overall shortfall in General Fund cash reserves of around £20,000. We believe if required, this could be met at short notice by encashing the £70,305 of CCLA Investment Fund units held at 31 December 2021.

Our policy is to invest our longer-term General Fund reserves in the CCLA Church of England Investment Fund with a view to growth in income and capital over the medium term. A healthy return of 17.5% including income received was achieved during 2021 (2020: 10.2%).

Grants to mission partners locally and overseas are made on the basis of clear knowledge of and connections with those ministries on the part of St John’s. We ‘tithe’ our General Fund voluntary income for these purposes within our overall mission as part of God’s church worldwide, and seek to enhance this giving with additional appeals and fund raising.

Financial Outlook and Strategy for 2022

We appropriately acted cautiously in 2021 as uncertainty driven by restrictions impacted our ability to use our facilities to the extent we wished, with an impact on income. Nonetheless, the final few months of 2021 were encouraging and we anticipate this helping financially in 2022. But our costs will be subject to inflationary pressure and we have the desire to ‘do more’ as opportunities present themselves. We will continue seeking grants and donations where it is appropriate to support such incremental activities.

The quinquennial inspection in 2021 identified work which must be undertaken in the coming years to maintain the integrity of the buildings, but we believe our existing Fabric Reserve plus budgeted amounts, should allow that work to proceed as required.

Funds are in place for repayment of the financial obligations related to the debt of the Easter Centre which are due in 2022 and new interest-free loans received in 2021 have allowed us to reduce our interest bearing debt, with a consequential saving of interest expense. As set out in Note 2b to the following Financial Statements, the PCC believes the charity is a going concern for at least twelve months from the date of approval of these accounts and that funds will continue to become available to repay its borrowings as they fall due.

Nonetheless, the Gift Day remains a fundamental element of our Christian discipleship and in 2022 we will continue to encourage those who are not yet regular givers to contribute to both repaying the Easter Centre debt as well as supporting our ongoing operational costs through the Partnership Scheme, which we continue to promote as the best way to help us plan and deliver our vision.

On behalf of the Parochial Church Council

Approved on March 28[th] 2022

Revd Esther Prior, Chair

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Our Values: Inviting Welcoming Courageous Creative Transforming Christ-centred

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Independent Auditor’s Report to the Members of the Parochial Church Council of St John the Baptist Egham for Year Ended 31 December 2021

We have audited the financial statements of the Parochial Church Council of St John the Baptist Egham for the year ended 31 December 2021 set out on pages 15 to 24. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with “Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102)” in preference to the “Accounting and Reporting by Charities: Statements of Recommended Practice” issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the financial statements 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.

Opinion

In our opinion the financial statements:

 give a true and fair view of the state of the Parochial Church Council’s affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure 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 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) and in other respects the requirements of the Charities Act 2011.

Basis of 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

In auditing the financial statements, we have concluded that the Parochial Church Council’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Parochial Church Council with respect to going concern are described in the relevant sections of this report.

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Independent Auditor’s Report to the Members of the Parochial Church Council of St John the Baptist Egham for Year Ended 31 December 2021 (Continued)

Other information

The Members of the Parochial Church Council are responsible for the other information. The other information comprises the information included in the 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of the Parochial Church Council

As explained more fully in the Statement of the Parochial Church Council’s responsibilities, the Members of the Parochial Church Council are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Members of the Parochial Church Council 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 Members of the Parochial Church Council are responsible for assessing the Parochial Church Council’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 Members of the Parochial Church Council either intend to liquidate the Parochial Church Council’s or to cease operations, or have no realistic alternative but to do so.

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Independent Auditor’s Report to the Members of the Parochial Church Council of St John the Baptist Egham for Year Ended 31 December 2021 (Continued)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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.

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:

We assessed the susceptibility of the Charity's financial statements to material misstatement, including how fraud might occur. We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas; posting of fraudulent journal entries, authorisation, processing, and payment of fraudulent expenses and timing of revenue recognition.

Audit procedures performed by the engagement team included:

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Independent Auditor’s Report to the Members of the Parochial Church Council of St John the Baptist Egham for Year Ended 31 December 2021 (Continued)

Auditor's responsibilities for the audit of the financial statements (continued)

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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-foraudit/Description-of-auditors-responsibilities-for-audit.aspx.

Use of our report

This report is made solely to the Members of the Parochial Church Council, 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 Members of the Parochial Church Council 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 Members of the Parochial Church Council, as a body, for our audit work, for this report, or for the opinions we have formed.

Menzies LLP Chartered Accountants Statutory Auditor Centrum House 36 Station Road Egham Surrey TW20 9LF

Date: 13-Apr-2022

Menzies LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Parochial Church Council of St John the Baptist, Egham Balance Sheet as at 31 December 2021

Note
2021
Fixed Assets
£
£
Tangible Fixed Assets:
6
Easter Centre
5,936,848
Freehold Property - Curate House
320,696
Audio Visual, Office & Other Equipment
14,189
Investment Assets
7
70,305
Total Fixed Assets
£6,342,038
Current Assets
Stock of Traidcraft goods
8
0
Debtors and prepayments
9
5,292
Cash at bank and in hand: General Fund
12
30,271
Cash at bank: Fabric and Repairs Fund
12
41,670
Cash at bank: Music & Worship Fund
12
30,000
Cash at bank: Building for the Future
12
102,377
Cash at bank: Playbox & other Restricted Funds
12
60,401
Total current assets
270,011
Current Liabilities
10
Bank & other loans due within one year
(174,850)
Creditors, Accruals & Deferred Income
(29,777)
Total current liabilities
(204,627)
Net Current Assets/(Liabilities)
65,384
Creditors due after more than one year
11
Bank and interest free loans
(989,405)
Net Assets
£5,418,017
Represented by:
Funds
12
Unrestricted funds:
General Fund
94,134
Fabric Fund
41,670
Music & Worship Fund
30,000
Easter Centre Building Fund
4,793,914
Other Freehold Properties Fund
320,696
Restricted funds
53,756
Endowment Fund:Edward Budgen bequest
83,847
Total Funds
£5,418,017
Approved by, and signed on behalf of, the PCC on 28 March 2022
Revd Esther Prior -Chairman
Chris Gray FCA -Treasurer		 £
506
12,633
29,475
41,670
0
47,828
66,228
(253,444)
(22,852)		 2020
£
5,936,848
320,696
11,182
61,485
£6,330,211
198,340
(276,296)
(77,956)
(1,199,395)
£5,052,860
85,897
41,670
0
4,454,551
320,696
66,199
83,847
£5,052,860

Page 16

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Parochial Church Council of St John the Baptist, Egham

Statement of Financial Activities

for the year ending 31 December 2021

Note
Income and endowments from:
Donations and legacies
3a
Church activities
3b
Other trading activities
3c
Investments
3d
Total income
Expenditure on:
Grants made
4a
Church activities
4b
Total expenditure
Net income/(expenditure)
Transfers between funds
General Fund to Fabric Fund
Mission Partners to General Fund
General Fund to Music & Worship Fund
General Fund to Freehold Property Fund
Restricted Fund to Freehold Property Fund
Net income/(expenditure) after Transfers
Other recognised gains/(losses)
Unrealised gains on investment assets
Net Movement in Funds
Reconciliation of funds:
Balances brought forward 1 January
Endowment Fund balance (no movement)
Balances carried forward 31 December*		 Unrestrict
2021
2020

£
£
387,331
343,482
30,794
27,613
0
0
4,194
6,209
£422,319
£377,304
30,675
35,009
302,227
323,409
£332,902
£358,418
£89,417
£18,886
0
(15,000)
0
2,648
(30,000)
0
(60,000)
0
0
0
(£583)
£6,534
8,820
3,962
£8,237
£10,496
85,897
75,401
£94,134
£85,897
General Fund		 ed Funds
2021
2020
£
£
0
0
0
0
0
0
0
0
£0
£0
0
0
0
0
£0
£0
£0
£0
0
15,000
0
0
30,000
0
60,000
0
279,363
326,723
£369,363
£341,723
0
0
£369,363
£341,723
4,816,917
4,475,194
£4,816,917
£5,186,280
Freehold, Fabric &
Music Funds		 2021
2020
£
£
350,953
431,500
94,041
109,042
0
0
7
73
£445,001
£540,615
16,634
11,380
161,447
162,367
£178,081
£173,747
£266,920
£366,868
0
0
0
(2,648)
0
0
0
0
(279,363)
(326,723)
(£12,443)
£37,497
0
0
(£12,443)
£37,497
66,199
28,702
£53,756
£66,199
Restricted
Funds		 Total
2021
2020
£
£
738,284
774,982
124,835
136,655
0
0
4,201
6,282
£867,320
£917,919
47,309
46,389
463,674
485,776
£510,983
£532,165
£356,337
£385,754
0
0
0
0
0
0
0
0
0
0
£356,337
£385,754
8,820
3,962
£365,157
£389,716
4,969,013
4,579,297
83,847
83,847
£5,052,860
£5,418,017

*Separate columns for the Endowment Fund are not presented as the income of this fund forms part of the General Fund and there were no movements on this fund in either year.

Page 17

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Parochial Church Council of St John the Baptist, Egham Statement of cash flows for the year ended 31 December 2021

2021
£
£
Cash flows from operating activities
Net cash provided by operating activities(see reconciliation below)
372,496
Cash flows from investing activities
Dividends, interest and rent from investments
4,201
Purchase of property, plant and equipment
(8,595)
Proceeds from sale of property/investments
0
Net cash generated/(used) by investing activities
(4,394)
Cash flows from financing activities
Repayment of borrowings
(430,584)
Cash inflows from new borrowings
142,000
Net cash provided by financing activities
(288,584)
Change in cash and cash equivalents in the year
79,518
Cash and cash equivalents at the beginning of the year
185,201
Cash and cash equivalents at the end of the year
£264,719
Reconciliation of net income to net cash flow from operating activities
Net income for the year (as per Statement of Financial Activities)
365,157
Adjustments for:
Depreciation charges
5,588
(Gains) on investments
(8,820)
Dividends, interest and rent from investments
(4,201)
Decrease / (Increase) in stocks
506
(Increase) / Decrease in debtors
7,341
Increase / (Decrease) in creditors
6,925
7,339
Net cash provided by operating activities
£372,496
Analysis of cash equivalents
Cash at bank and in hand
203,610
Notice deposits (less than three months)
61,109
£264,719
Analysis of changes in net debt
At start of
year
Cash-flows
Cash equivalents
185,201
79,518
Loans falling due within one year
(253,444)
238,589
Loans falling due after more than one year
(1,199,395)
49,995
Total
(£1,267,638)
£368,102		 2020
£
£
386,248
6,282
(2,628)
0
3,654
(326,204)
33,000
(293,204)
96,698
88,503
£185,201
389,716
3,869
(3,962)
(6,282)
28
(70)
2,949
(3,468)
£386,248
153,454
31,747
£185,201
Non-cash
changes
At end of
year
0
264,719
(159,995)
(174,850)
159,995
(989,405)
£0
(£899,536)

Page 18

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2021

Note

2
2a
2b
2c
2d
2e
2f
2g
2h
2i		 Accounting Policies
Accounting Convention and Standards
The financial statements have been prepared on a Going Concern basis 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
_United Kingdom and Republic of Ireland (FRS 102)_issued on 16 July 2014 ("the SORP"); the Church Accounting Regulations 2006;
and the Charities Act 2011. They have also been prepared to give a True and Fair view and so have departed from the Charities
(Accounts and Reports) Regulations 2008 but only to the extent necessary to do so to follow the SORP. They are presented in sterling,
the functional currency of the PCC, rounded to the nearest pound. They have been prepared under the historical cost convention,
except for investment assets which are shown at market value, and include all transactions, assets and liabilities for which the PCC is
responsible. They do not include the accounts of groups such as Besom, that owe their main affiliation to another body, nor informal
gatherings of church members. No financial benefit has been reflected in these accounts in respect of the time and effort freely given
by many members of the church involved in the running and administration of church and community activities.
Going Concern
At 31 December 2021, the balance sheet shows net current assets of £65,604 and long term liabilities of (£989,405). The accounts
do not include gifts received and pledges of more than £400,000 for receipt between 2022 and 2027. These gifts and pledges will cover
the repayment of loans due into 2023 even without further gifts that are expected through the Gift Day process. The PCC has prepared
cash flow forecasts taking into account receipts and payments, and the commitment demonstrated by church members and other donors
to date, and accordingly believes the charity is a going concern for at least 12 months from the date of approval of these accounts and that
funds will be available to repay its borrowings for constructing the Easter Centre as they fall due.
Funds
Unrestricted funds represent funds of the PCC that are not subject to any restrictions regarding their use and are available for the
general purposes of the PCC. These unrestricted funds include funds designated for a particular purpose by the PCC, such as
the Freehold Property Fund which represents the amount invested (net of loans) in operational properties.
Restricted funds represent funds which may only be used for a particular purpose but remain wholly under the control of the PCC.
Endowment funds are those whose capital must be maintained; only income arising from the endowment may be used as directed.
The only Endowment fund held is the Budgen Bequest which is for the general purposes of the PCC. As explained in Note 6,
this is now invested in part of the Easter Centre, the income and ministry use of which supports the General Fund.
Income and endowments
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource
to which they relate is received. Grants and legacies are accounted for when the PCC becomes legally entitled to receive them.
Income of the Playbox nursery represents the amounts receivable in respect of the provision of nursery facilities during the year.
Dividends and interest are accounted for when receivable. Realised gains or losses are recognised when investments are sold
and unrealised gains or losses on revaluation of investments at the year-end are accounted for through the Statement of Financial
Activities. Income from letting PCC properties is recognised when due. Gains from the revaluation of PCC properties, whether
realised on disposal or unrealised on revaluation, are reported as Other Recognised Gains in the Freehold Property Fund.
Expenditure
Expenditure is accounted for on an accruals basis but excludes time or materials freely given by members.
Grants are accounted for when awarded, if that award creates a binding or constructive obligation on the PCC.
All costs are directly attributable to the different categories of expenditure and so no allocation or apportionment is made.
Fixed Assets
Tangible Assets - Land and Buildings
Consecrated and beneficed property is excluded from the financial statements in accordance with the Charities Act 2011. The Easter
Centre has been built on land held in trust by the Diocese of Guildford on behalf of the PCC and is carried at cost including capitalised
interest on loans taken out to fund construction costs in advance of donations received. Other freehold land and buildings held on
behalf of the PCC are valued at cost or the PCC's estimate of market value in 2007 (if later). No depreciation is charged against
freehold properties as their residual values are considered equal to or greater than their carrying value in the accounts.
Tangible Assets - Equipment
No value is placed on church inventory furnishings held by the churchwardens on trust for the PCC and which require a faculty
for disposal. Other equipment held in the church premises and elsewhere is included at historical cost and depreciated
over its estimated useful life of 5 years. Individual items costing less than £1,000 are written off when they are acquired.
Investments
Investments are stated at market value at the balance sheet date.
Stock
No stock was held at the balance sheet date. Historically stock was valued at the lower of cost or net realisable value and related
to the Traidcraft trading activity.
Public benefit entity concessionary loans
Interest free loans from church members towards the public benefit of the Easter Centre are accounted for as concessionary
loans under FRS 102. Details are set out in Note 11: Creditors due after more than one year.
Pension costs
The PCC operates a defined contribution pension scheme. The assets are held separately from those of the PCC in independently
administered funds. Employer contributions are charged to resources expended as they became payable.

Page 19

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

PCC of St John the Baptist, Egham Notes to the Financial Statements

for the year ending 31 December 2021

(No columns for the Endowment Fund are shown in the following notes as the income of this fund forms part of the General Fund.)

Note
General & Building
2021
2020
3
INCOME AND ENDOWMENTS FROM:
£
£
3a
Donations and legacies
Partnership Planned Giving scheme
236,422
260,836
Tax recoverable
50,740
59,243
Collections & Appeals
1,256
4,626
Gifts CAP, Kitchen, Caddey & Playbox
3,303
4,886
Grants Received
3,000
13,891
Easter Centre gifts
0
0
Legacies
92,610
0
Total
£387,331
£343,482
3b
Church activities
Residential & mission trips fees
345
0
Don. & subs - youth / other activities
1,101
1,473
Donations for use of facilities
23,698
23,467
PCC fees
2,455
1,614
Playbox fees & grants
0
0
Other -Concerts/Courses/Traidcraft
3,195
1,059
Total
£30,794
£27,613
3c
Fundraising and trading activities
Playbox fundraising
0
0
Total
£0
£0
3d
Investments
Dividends & interest income
1,794
1,809
Rental of properties
2,400
4,400
Total
£4,194
£6,209
Total Income
£422,319
£377,304
4
EXPENDITURE ON:
Charitable activities:
4a
Grants made
Overseas mission organisations
18,350
19,950
Home mission organisations
10,795
12,459
Training grants
1,530
2,600
Travel bursaries
0
0
Total
£30,675
£35,009
(see Note 5d for further details)
4b
Church activities
Ministry Team
Diocesan parish share
123,860
123,860
Clergy team expenses
3,524
4,469
Other salaries, expenses & Playbox
55,151
57,015
Total
£182,535
£185,344
Ministry costs
Worship
4,209
2,953
Adult mission inc. CAP & Kitchen
12,928
12,525
Youth mission & Playbox
5,942
6,350
Residential and mission trips
382
0
Other events and activities
3,597
1,674
Total
£27,058
£23,502		 Restricted
2021
2020
£
£
0
0
55,726
69,865
0
0
11,221
39,148
19,568
13,913
264,438
308,574
0
0
£350,953
£431,500
0
0
0
0
(16,200)
(17,700)
0
0
108,707
125,927
1,534
815
£94,041
£109,042
0
0
£0
£0
7
73
0
0
£7
£73
£445,001
£540,615
4,048
2,037
12,586
9,343
0
0
0
0
£16,634
£11,380
0
0
0
0
110,104
103,827
£110,104
£103,827
0
0
942
1,440
7,788
4,642
0
0
0
0
£8,730
£6,082		 Total
2021
2020
£
£
236,422
260,836
106,466
129,108
1,256
4,626
14,524
44,034
22,568
27,804
264,438
308,574
92,610
0
£738,284
£774,982
345
0
1,101
1,473
7,498
5,767
2,455
1,614
108,707
125,927
4,729
1,874
£124,835
£136,655
0
0
£0
£0
1,801
1,882
2,400
4,400
£4,201
£6,282
£867,320
£917,919
22,398
21,987
23,381
21,802
1,530
2,600
0
0
£47,309
£46,389
123,860
123,860
3,524
4,469
165,255
160,842
£292,639
£289,171
4,209
2,953
13,870
13,965
13,730
10,992
382
0
3,597
1,674
£35,788
£29,584

Page 20

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

PCC of St John the Baptist, Egham Notes to the Financial Statements

for the year ending 31 December 2021

Note
General Fund
Restricted
EXPENDITURE (continued):
2021
2020
2021
2020
4b
Church activities (continued)
£
£
£
£
Provision of buildings and equipment
Church
Utilities
2,928
3,625
0
0
Insurance
2,930
2,895
0
0
Cleaning and maintenance
3,618
3,501
0
0
Quinquennial/major works/repairs
12,338
12,889
0
0
Total
£21,814
£22,910
£0
£0
Easter Centre
Utilities
9,130
9,415
0
0
Insurance
1,867
1,843
0
0
Maintenance and gardening
11,498
9,371
0
0
Cleaning
3,886
3,305
0
0
Rent and management
0
0
0
0
Total
£26,381
£23,934
£0
£0
Caddey operating costs
£1,018
£1,632
£0
£0
Houses
Vicarage
247
4,166
0
0
Curate's house
1,684
21,937
0
0
Total
£1,931
£26,103
£0
£0
Depreciation of fixed assets
£5,588
£3,869
£0
£0
Total
£56,732
£78,448
£0
£0
Other expenditure
Interest payable, bank & legal fees
0
0
40,583
51,721
Traidcraft and Kitchen purchases
0
0
1,789
680
Total
£0
£0
£42,372
£52,401
Support costs
Parish Administrator and Assistants
19,983
20,330
0
0
IT & Phone
6,223
4,227
0
0
Office Costs
1,140
3,274
0
0
Bank & other service fees
2,651
2,705
241
57
Other support costs
205
179
0
0
Total
£30,202
£30,715
£241
£57
Governance costs
Audit fee
£5,700
£5,400
£0
£0
Total church activities
£302,227
£323,409
£161,447
£162,367
Total Expenditure
£332,902
£358,418
£178,081
£173,747
5a
Resources Expended
The following have been expensed through the General Fund:
£
Auditors' remuneration including Value Added Tax thereon
5,700
5b
Employee information and key management personnel
2021
Average number of full or part-time employees directly employed by the PCC
8
Average number of full or part-time employees directly employed by Playbox
9
Total employee emoluments paid by
Salaries
167,116
the PCC (including Playbox):
Employer pension contributions
1,958
Employer National Insurance
813
169,887		 Total
2021
2020
£
£
2,928
3,625
2,930
2,895
3,618
3,501
12,338
12,889
£21,814
£22,910
9,130
9,415
1,867
1,843
11,498
9,371
3,886
3,305
0
0
£26,381
£23,934
£1,018
£1,632
247
4,166
1,684
21,937
£1,931
£26,103
£5,588
£3,869
£56,732
£78,448
40,583
51,721
1,789
680
£42,372
£52,401
19,983
20,330
6,223
4,227
1,140
3,274
2,892
2,762
205
179
£30,443
£30,772
£5,700
£5,400
£463,674
£485,776
£510,983
£532,165
£
5,400
2020
9
9
170,418
1,848
1,404
173,670

There are no employees with emoluments above £60,000.

These figures exclude the Incumbent and Curate, who are employed by Guildford Diocese, paid for from Parish Share (in note 4b) and considered to be the key management personnel overseeing the ministry of St John's that is resourced by the PCC.

Page 21

DocuSign Envelope ID: E436D424-DF3F-4214-80CA-9AEA4BA7C70C

Note

PCC of St John the Baptist, Egham Notes to the Financial Statements

for the year ending 31 December 2021

5c Transactions with members of the PCC and their immediate families

Donations of £182,514 were recorded from PCC members and their immediate families, during their period of membership falling within 2021 (2020: £164,807). This total does not include Gift Aid which was also received in respect of most of these donations. Salaries and expenses paid as permitted by section 3A of the Parochial Church Councils (Powers) Measure 1956:

Mrs M Cramer is employed as cleaner and received a salary of £2,801 during the year.

Mrs C Jenkins is employed as an Assistant Administrator and received a salary and pension contributions of £10,560 during her time on the PCC. Ms G Hopkins is employed as Youth & Student Lay Pastor and received a salary and pension contributions of £4,768 during her time on the PCC. She also lives in job related accommodation without charge.

Mrs P Evans is employed as the Pastoral Assistant Leader and received a salary of £1,189 during the year. None of their remuneration was in respect of their services as PCC trustees.

Four members were reimbursed expenses totalling £1,329. This was related to their employment and not to their services as PCC members.

Related parties

Steve Cresswell is married to the Church Administrator and Steve Jenkins is married to the Assistant Administrator. They were both excluded from decisions about employment or remuneration, as were the PCC members directly employed by the PCC. Keith Malcouronne is a director of Acuity Professional Limited which administered the PCC and Playbox payrolls for fees of £1,008 including non-recoverable VAT and of BC Technologies LLP who provided IT support for a total cost of £1,770. He is also deputy chairman of the Guildford Diocesan Board of Finance, which receives the parish share of £123,860.

5d Grants payable

Grants were made during the year to the following organisations (included within note 4a above):

Overseas mission:
Latin Link Brazil: Flatmans
Child Action Lanka
My Fathers House Olinda Brazil
Tear Fund
Bible Society: BtheWord
Total grants to organisations		 £
9,268
5,680
5,450
1,000
1,000
22,398		 Home mission:
Christians Against Poverty
East to West Trust
Faith Awareness in Children Trust
Guildford Diocese: Local Ministry Program
Besom in Runnymede
Runnymede Deanery Synod
Hope in Depression
Bishop of Guildford's Community Fund
Grants to CAP clients received from EUC
Grants to individuals from Hardship Fund
Other training		 £
6,300
4,050
1,500
1,155
1,000
945
550
500
689
7,847
375
24,911

In addition, collections were taken up or other gifts received for the following charities where the PCC was acting as agent for these recipients. Accordingly, these amounts did not form part of the income or expenditure of the PCC in these financial statements:

Besom in Runnymede (Christmas) 170 British Legion (Remembrance Sunday) 35

6 Fixed Assets for use by the PCC

Cost or valuation
At 1 January 2021
Additions
Disposals
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
Disposals
At 31 December 2021
Net book value at 31 December 2021
Net book value at 31 December 2020		 Tangible fixed assets
£
£
£
5,936,848
320,696
86,143
0
0
8,595
0
0
0
£5,936,848
£320,696
£94,738
0
0
74,961
0
0
5,588
0
0
0
£0
£0
£80,549
£5,936,848
£320,696
£14,189
£5,936,848
£320,696
£11,182
Audio visual, office
& other equipment
Easter
Centre
33 Grange
Road		 Total
Fixed Assets
£
6,343,687
8,595
0
£6,352,282
74,961
5,588
0
£80,549
£6,271,733
£6,268,726

33 Grange Road was revalued by the Trustees to estimated market value at October 2007, its second such revaluation since inclusion in the accounts. It was bought in 1979 as curate housing at a cost of £31,950 and the Trustees are not aware of any impairment in value since the 2007 valuation.

The Endowment Fund of £83,847 is invested into the Easter Centre for continuing use in mission and ministry of St John's parish, in accordance with the bequest of Edward Budgen in 1954.

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Note

PCC of St John the Baptist, Egham Notes to the Financial Statements

for the year ending 31 December 2021

Following the transfer of land previously owned by the Vicar and Churchwardens to the PCC, on some of which the Easter Centre is built, the PCC now also owns the land on which the Caddey stands and the car park is laid. This was originally received at no cost from Runnymede Borough Council in exchange for some land adjoining the High Street where the war memorial is located.

7 Investment Assets

CBF Investment Fund income shares
CBF Deposit Fund
Total		 Net Book Value
at 1 January 2021
£
61,340
145
£61,485		 Additions/
Unrealised
Net Book Value
disposals
gain/(loss)
at 31 December 2021
£
£
£
0
8,820
70,160
0
0
145
£0
£8,820
£70,305

The CBF Church of England Investment Fund shares produced a total return (including dividends paid into the General Fund) for 2021 of 17.5% before management expenses which was slightly better than its Composite Charity Investment Benchmark return of 17.0%, which is used as the PCC's investment performance benchmark. As a participant in the CBF Church of England Funds managed by CCLA (Church, Charity and Local Authority) Investment Management Limited, the PCC adopts the ethical investment policies explicit in these funds. A copy of these policies is available at www.ccla.co.uk

The CBF Church of England Investment and Deposit Funds are managed by CCLA Investment Management Limited, which is 60% owned by the Investment Fund. An annual management charge of 0.55% is taken from capital.

8
9
10
11		 2021
£
Stock
Stocks of Traidcraft goods held at 31 December
£0
Debtors & prepayments
Income tax recoverable
1,182
Other debtors and prepayments
4,110
Playbox and Traidcraft debtors
0
Total
£5,292
Current Liabilities
Bank loans falling due within one year (note 11)
99,516
Concessionary loans
75,334
Creditors, Accruals & Deferred Income
29,777
Total
£204,627
Creditors & accruals includes £9,310 (2020 £8,305) received in advance from Surrey County Council for Playbox
be earned in 2022.
Creditors due after more than one year
This figure represents loans totalling £921,739 from Lloyds Bank plc and £67,666 of interest-free loans from chur
pay for the Easter Centre prior to further gifts and grants being received in the future. The loans from church mem
new funding to allow early repayment of external, interest bearing, debt.
Amounts falling due:
in one year or on demand
bank loans
99,516
concessionary loans
75,334
in more than one but not more than two years: bank loans
100,281
concessionary loans
34,333
in more than two but not more than five years: bank loans
315,196
concessionary loans
33,333
in more than five years: bank loans
506,262
£1,164,255
less:
included in creditors falling due within one year
(174,850)
Amounts falling due after one year
£989,405		 2020
£
£506
10,328
2,305
0
£12,633
111,444
142,000
22,852
£276,296
grants which will
ch members to help
bers have provide
111,444
142,000
159,995
0
348,994
1,000
689,406
(253,444)
£1,199,395
£1,452,839

This figure represents loans totalling £921,739 from Lloyds Bank plc and £67,666 of interest-free loans from church members to help pay for the Easter Centre prior to further gifts and grants being received in the future. The loans from church members have provided new funding to allow early repayment of external, interest bearing, debt.

The Lloyds Bank loans are supported by a letter of comfort from the Guildford Diocesan Board of Finance.

One loan, which was repayable by the end of 2022, with interest at 1.25% over Lloyds Bank Base Rate, was fully repaid within the year. £1,500,000 was initially interest only, but repayments commenced in 2018 and are payable by instalments over the following 13 years with interest on half fixed at 4.26% and the balance a variable interest rate of 2.35% over Lloyds Bank Base Rate.

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PCC of St John the Baptist, Egham Notes to the Financial Statements

for the year ending 31 December 2021

Note

12 Analysis of net assets and movements in Funds

Restricted funds comprise donations for which the use has been specified by the donor. These include funds towards the Campus Dev Mgr, Playbox and Traidcraft. Now the Easter Centre is complete, donations to pay for it are transferred to unrestricted funds as received.

The endowment fund comprises the Edward Budgen bequest to which the PCC has access to the income from, or use of, its invested assets (now in the Easter Centre) for its general purposes. The original value of the Edward Budgen bequest in 1954 is not now known.

12a
Analysis of Net Assets/(Liabilities) by Fund
as at 31 December 2021
Unrestricted
Traidcraft
funds
Playbox
& Kitchen
Other funds
£
£
£
£
Fixed Assets
Easter Centre
5,853,001
0
0
0
Other buildings & Equipment
334,885
0
0
0
Investments
70,305
0
0
0
Current Assets
Stock
0
0
0
0
Cash at Bank, on Deposit and In Hand
198,557
23,372
32,809
5,761
Debtors and Prepayments
5,292
0
0
0
Current Liabilities
Bank and other loans due within 1 year
(174,850)
0
0
0
Creditors, Accruals & Deferred Income
(17,372)
(12,383)
(22)
0
Bank & other loans due after 1 year
(989,405)
0
0
0
Net Assets/ (Liabilities)
5,280,413
10,989
32,787
5,761
12b
Movement of Funds:
1st January
Income and
Restricted funds:
2021
Transfers
endowments Expenditure
Traidcraft
3,832
1,534
(4,289)
Garden of Remembrance Hodder Legacy
1,000
The Caddey
0
4,220
Community Kitchen/ Hardship Fund
31,538
11,221
(11,050)
Campus Development Manager Fund
10,000
11,300
(16,667)
Chuter Choir Boys' Prize/ Vicar's Disc. Fund
128
Mission Partners
0
0
4,048
(4,048)
Other restricted funds(as above)
£46,498
£0
£32,323
(£36,054)
Playbox
19,701
108,713
(117,425)
Building for the Future / Easter Centre
0
(279,363)
320,165
(40,802)
Total restricted funds
£66,199
(£279,363)
£461,201
(£194,281)
Unrestricted funds:
General Fund
85,897
(90,000)
406,119
(316,702)
Fabric Repairs Fund
41,670
Music & Worship Fund
0
30,000
Easter Centre
4,454,551
339,363
Other Freehold Property Fund
320,696
£4,902,814
£279,363
£406,119
(£316,702)
Endowment FundEdwardBudgen bequest
83,847
Total Funds
£5,052,860
£0
£867,320
(£510,983)
Restricted funds		 Endowment
Total
fund
£
£
83,847
5,936,848
0
334,885
0
70,305
0
0
0
264,719
0
5,292
0
(174,850)
0
(29,777)
0
(989,405)
83,847
5,418,017
31st December
Gains
2021
1,077
1,000
4,220
31,709
4,633
128
0
£0
£42,767
0
10,989
0
0
£0
£53,756
8,820
94,134
41,670
30,000
4,793,914
320,696
£8,820
£5,280,414
83,847
£8,820
£5,418,017

The transfer between funds of £339,363 (2020: 326,723) represents amounts received in donations towards repaying the loans related to building the Easter Centre including £60,000 of the legacy which was allocated by the PCC, less interest expense on those loans.

The comparative figures for 2020 are shown in Notes 12c and 12d on the following page.

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PCC of St John the Baptist, Egham Notes to the Financial Statements for the year ending 31 December 2021

Note

12c
Analysis of Net Assets/(Liabilities) by Fund
as at 31 December 2020
Unrestricted
Traidcraft
funds
Playbox
& Kitchen
Other funds
£
£
£
£
Fixed Assets
Easter Centre
5,853,001
0
0
0
Other Buildings & Equipment
331,878
0
0
0
Investments
61,485
0
0
0
Current Assets
Stock
0
0
506
0
Cash at Bank, on Deposit and In Hand
107,845
31,341
34,887
11,128
Debtors and Prepayments
12,633
0
0
0
Current Liabilities
Bank and other loans due within 1 year
(253,444)
0
0
0
Creditors, Accruals & Deferred Income
(11,190)
(11,640)
0
(22)
Bank & other loans due after 1 year
(1,199,395)
0
0
0
Net Assets/ (Liabilities)
£4,902,813
£19,701
£35,393
£11,106
12d
Movement of Funds:
1st January
Income and
Restricted funds:
2020
Transfers
endowments Expenditure
Traidcraft
3,697
0
815
(680)
The Shed
0
0
0
0
Garden of Remembrance Hodder Legacy
1,000
0
0
0
Community Kitchen
4,203
0
39,148
(11,813)
Campus Development Manager Fund
0
0
10,000
0
Chuter Choir Boys' Prize/ Vicar's Disc. Fund
128
0
0
0
Mission Partners
2,648
(2,648)
2,564
(2,564)
Other restricted funds(as above)
£11,676
(£2,648)
£52,527
(£15,057)
Playbox
17,026
0
127,344
(124,669)
Building for the Future / Easter Centre
0
(326,723)
378,444
(51,721)
(transfer of construction costs paid from gifts received)
Total restricted funds
£28,702
(£329,371)
£558,315
(£191,447)
Unrestricted funds:
General Fund
75,401
(12,352)
359,604
(340,718)
Fabric Repairs Fund
26,670
15,000
0
0
Easter Centre
4,127,828
326,723
0
0
Freehold Property Fund(transfer of capital
320,696
0
0
0
repayments increasing the property equity)
£4,550,595
£329,371
£359,604
(£340,718)
Endowment FundEdwardBudgen bequest
83,847
0
0
0
Total Funds
£4,663,144
£0
£917,919
(£532,165)
Restricted funds		 Endowment
Total
fund
£
£
83,847
5,936,848
0
331,878
0
61,485
0
506
0
185,201
0
12,633
0
(253,444)
0
(22,852)
0
(1,199,395)
£83,847
£5,052,860
31st December
Gains
2020
0
3,832
0
0
0
1,000
0
31,538
0
10,000
0
128
0
0
£0
£46,498
0
19,701
0
0
£0
£66,199
3,962
85,897
0
41,670
0
4,454,551
0
320,696
£3,962
£4,902,814
0
83,847
£3,962
£5,052,860

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