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2021-12-31-accounts

Page
Annual
report		 1 —7
Auditor's
report		 8 —9
Statement
offinancial		 activities 10
Balance sheet
Cash flow statement 12
Notes to the financial statements 13—22

Holy Trinity Church Holy Trinity Church (Trinity) is situated
in Cheltenham.		 (Trinity) is situated
in Cheltenham.		 (Trinity) is situated
in Cheltenham.		 (Trinity) is situated
in Cheltenham.		 (Trinity) is situated
in Cheltenham.		 (Trinity) is situated
in Cheltenham.		 (Trinity) is situated
in Cheltenham.		 (Trinity) is situated
in Cheltenham.		 It is part ofthe Diocese of Gloucester It is part ofthe Diocese of Gloucester It is part ofthe Diocese of Gloucester It is part ofthe Diocese of Gloucester It is part ofthe Diocese of Gloucester It is part ofthe Diocese of Gloucester within the Church of England. within the Church of England. within the Church of England. within the Church of England.
The correspondence address is Holy Trinity Church, Trinity House, 100-102Winchcombe Street, Cheltenham, GL52 2NW.
The Parochial Church Council ofthe Ecclesiastical Parish of Holy Trinity, Cheltenham is a charity registered in the UK with
the Charity
Commission,
charity
number 1130299.The PCC
Measure 1956(as amended)
and the Church
Representation		 are also governed
by the
Rules 1969(as amended).		 Parochial Church Council (Powers)
Officers and Trustees who have served from 1 January 2021 until the date this report was approved are:
Name Post Dates (if part year)
Officers
Rev Andrew
Blyth		 Chair
Christine
Robertson		 Treasurer
Jenny Harris Secretary Until 4'" October 2021
Helen Moss Secretary From 4 October 2021
Julia Thomson Electoral Roll Ofticer
Trustees
David Baker Deanery Synod Member Until 31"August 2021
Clare Benton Elected
Rev Andrew
Blyth		 Ex-Officio
Nick Eden Elected
Mike Fuller Deanery Synod Member
Mark Giles Elected Until 24' May 2021
Rachael
Gill		 Elected From 24'
May 2021
Rev Timothy Grew Ex-Officio
Iona Hay Deanery Synod Member
Jenny Harris Elected
Tom Johnson Elected
Elizabeth
Lang		 Churchwarden
Barry Lambert Churchwarden
David Lee Elected Until 24'" May 2021
Alex Metcalfe Elected
Helen Moss Elected
David Rowe Elected
Edmund
Smith		 Elected
Henry Steven Elected From 24" May 2021
Peter Strachan Co-opted Until 31"July 2021
Milcah Troughton Deanery Synod Member
Sophie Whisker Elected
Andrew Whittaker Elected

The charities' Bankers, Solicitors and Auditors are: Bankers, Solicitors and Auditors are:
Solicitors Bankers Auditors
BPESolicitors LLP NatWest Bank PLC Hazlewoods LLP
St James' House 31 Promenade Staverton Court
StJames' Square Cheltenham S tave rton
Cheltenham GL50 1LE Cheltenham
GL50 3PR GL51 OUX

Note Unrestricted Restricted 2021 Total 2020 Total
Funds
f		 Funds Fundsf Funds
f
Income and endowments from:
Donations
and legacies		 807,353 238,886 1,046,239 1,219,437
Other trading
activities		 29,618 16,697 46,315 30,991
Other income 8,038 8,038 10,429
Total income and endowments 845,009 255,583 1,100,592 1,260,857
Expenditure
on:
Raising funds (158) (158) (184)
Charitable
activities		 (817,429) (621,562) (1,438,991) (914,417)
Total expenditure (817,587) (621,562) (1,439,149) (914,601)
Net (expenditure)/income 27,422 (365,979) (338,557) 346,256
Reconciliation
of		 funds
Total funds brought forward 106,575 482,715 589,290 243,034
Total funds carried forward 14-16 133,997 116,736 250,733 589,290
Registered Charity No: 1130299 Charity No: 1130299
Note 2021 2021 2020 2020
f f
Fixed Assets
Tangible assets 10 38,117 42,301
Current Assets
Stocks 6,000 7,000
Debtors 55,026 24,074
Cash at bank and in hand 192,336 554,146
253,362 585,220
Liabilities
Creditors: amounts
within one year		 falling due 12 (40,746) (38,231)
Net Current Assets 212,616 546,989
Net Assets 250,733 589,290
The Funds ofthe Charity
Restricted
income		 funds 14 116,736 482,715
Unrestricted
income		 funds 15 133,997 106,575
Total Charity Funds 16 250,733 589,290
2021 2020
f f
Cash flows from operating activities
Net income over expenditure for the financial year (338,557) 346,256
Adjustments
for
Depreciation
ofproperty
plant and equipment		 6,944 6,721
(Increase)/Decrease
in trade and		 other receivables (30,952) (3,527)
Decrease
in inventories		 1,000
(Decrease)/Increase
in trade payables		 2,515 (28,005)
Net cash (expended)/generated from operating
activities (20,493) (24,811)
Cash flows from investing activities
Purchase offixed assets (2,760) (37,725)
Net cash (expended)/generated from investing
activities (2,760) (37,725)
Net (decrease)/increase
in		 cash and cash equivalents (361,810) 283,720
Cash and cash equivalents at the beginning ofthe year 554,146 270,426
Cash and cash equivalents at the end ofthe year 192,336 554,146

1.5 Expenditure
Expenditure
is included
on an accruals basis and		 is recognised
when there is a legal or constructive		 obligation to
pay for expenditure.
Costs are attributed
to one		 of the financial categories
of		 expenditure in the statement of
financial
activities.
The support
costs are apportioned
directly		 to the charitable
activity		 where possible, the
remainder
are split equally
between
Ministry support
and Pastoral		 and Evangelistic expenses support.
Fixed assets
Consecrated
and beneficed
property
of any
kind		 is excluded
from the financial		 statements by s96(2)(a) of the
Charities Act 1993.
Fixtures,
fittings
and office equipment
- depreciation		 is provided
using the		 straight line method
at		 rates calculated
to write off the assets over their useful
economic		 lives. The rate used
is 25%		 per annum apart from for specific
assets whose useful
life is considered
to be longer,		 whereby
the appropriate		 rate is used, subject to a minimum of
10%.Amounts
are capitalised
where
they exceed		 f1,250 and where the life of the assets is not less than three
years.
1.7 Operating
Leases
Rentals payable
under operating
leases are charged
against income on a straight		 line basis over the lease term.
1.8 Pensions
The
charity
operates
a defined
contribution
pension
scheme.
Contributions		 are charged to the statement of
financial
activities as they become payable
in accordance
with the		 rules ofthe scheme.
1.9 Stock
Stock is valued at the lower ofcost and net realisable value.
1.10 Ethical standards
ln
common
with
many
other
organisations
of our		 size
and
nature,
we		 use our
auditors		 to assist
with		 the
preparation
ofthe financial statements.
Judgements
and estimation
uncertainty
The Trustees
make estimates
and assumptions
concerning
the future.
There		 are no estimates or assumptions
that have a significant
risk of causing a material
adjustment
to the		 carrying amounts
ofassets		 and liabilities within
the next financial year.
1.12 Cash and cash equivalents
Cash
and
cash
equivalents
comprise
cash
in		 hand
and
call		 deposits, and other
short-term		 highly liquid
investments
that are readily
convertible
to a known		 amount
of cash and		 are subject to an insignificant risk of
change
in value.
1.13 Trade debtors
Trade debtors are amounts
due from customers
for		 merchandise
sold or services		 performed in the ordinary course
ofbusiness.
Trade debtors are recognised
initially at the transaction		 price.
AII trade debtors are repayable		 within one year and
hence are included
at the undiscounted
cost of cash		 expected
to		 be received. A provision for the impairment of
trade debtors
is established
when there is objective		 evidence that the charity will not be able to collect all amounts
due according to the original terms ofthe debtors.

3. Other trading activities
Unrestricted Restricted Restated
Funds
f		 Funds
f		 2021 Total 2020 Totalf
Church activities:
Income from specific activities 14,963 14,963 7,092
Pastoral
and evangelistic		 14,232 16,697 30,929 21,976
Worship
media		 activity income 219 219 256
Investment
Income		 204 204 1,667
Total 2021 29,618 16,697 46,315 30,991
Restated Total 2020 19,168 11,823 30,991
4. Other Income
Unrestricted
Fundsf		 Restricted
Funds
f		 2021 Total
f		 2020 Total
f
Coronavirus
job retention		 scheme 8,038 8,038 10,249
Raising funds
Unrestricted
Funds
f		 Restricted
Fundsf		 2021 Total 2020 Total
f
Cost ofWorship
income		 media activity 158 158 184
Total 2020 184 184

Note Unrestricted Restricted 2021 Total 2020 Total
Funds Funds Funds Funds
Activities
undertaken:		 E
Missionary
appeals
Trinity Supported
Mission		 Partners
Missionary
and charitable
giving		 34,036 61,767 95,803 144,982
Administrative
expenses		 118 118
Support costs 7 12,879 12,879 10,767
47,033 61,767 108,800 155,749
Ministry
Parish Share 156,811 156,811 144,811
Welcome and discipleship 1,390 1,390 717
Staff costs 139,125 139,125 113,934
Worship,
prayer and
teaching		 12,115 12,115 8,742
Printing,
postage and
stationery		 36 36 31
Depreciation 10 732 2,740 3,472 3,360
Support costs 7 152,404 275,550 427,954 163,042
462,613 278,290 740,903 434,637
Pastoral
&evangelistic		 expenses
Sunday School and Youth
Activities 5,966 5,966 3,828
Gifts and pastoral care 5,257 5,954 "I1,211 12,706
Alpha, training
8
evangelistic
expenses		 11,998 11,998 12,234
Staff costs 111,458 111,458 113,143
Administrative
expenses		 9,637 9,637 9,402
Support costs 156,152 275,551 431,703 168,171
Other expenses 7,315 7,315 4,547
307,783 281,505 589,288 324,031
Total cost ofactivities
undertaken		 817,429 621,562 1,438,991 914,417
Total cost ofactivities
undertaken
2020		 732,075 182,342 914,417

Support costs
Note Unrestricted Restricted 2021 Total 2020 Total
Funds
f		 Funds
f		 Fundsf Funds
f
Church
running
expenses
Insurance 3,813 3,813 3,767
Utilities and telephone 6,979 6,979 7,405
Cleaning 2,569 2,569 3,188
Repairs and maintenance 1,302 1,302 941
New Development 548,361 548,361 49,298
General
running		 costs 79,211 79,211 78,554
Other expenses 15,894 15,894 8,774
Events expenses 5,745 5,745 1,285
Administrative
expenses		 8,250 8,249 7,098
Depreciation 10 732 2,740 3,472 3,361
Staff costs 8 191,660 191,660 173,317
Audit and accountancy
fees		 5,280 5,280 4,992
Total support costs 321,435 551,101 872,536 341,980
Unrestricted Restricted 2021 Total 2020 Total
Fundsf Funds
f		 Funds
f		 Funds
Missionary appeals 12,879 12,879 10,767
Ministry 152,404 275,550 427,954 163,042
Pastoral
8
expenses		 evangelistic 156,152 275,551 431,703 168,171
Total support costs 321,435 551,101 872,536 341,980
Total support costs
2020		 286,663 55,317 341,980

Staff costs
2021 2020
Number Number
Number ofemployees
The average
monthly
employees
were:		 numbers offull time equivalent 16 14
No employee
earned		 more than 660,000 in the year (2020 - nil).
Employment
costs
2021 2020
Wages and salaries 390,584 353,174
Social security costs 25,557 22,980
Other pension costs 22,140 19,722
Recruitment
costs		 110 110
Redundancy
payments
Other staff costs 3,852 4,409
442,243 400,395

Tangible fixed assets
Fixtures, fittings
and equipment
Cost
At 1 January 2021 188,256
Additions
in the year		 2,760
At 31 December 2021 191,016
Depreciation
At 1 January 2021 145,955
Charge for the year 6,944
At 31 December 2021 152,899
Net book values
At 31 December 2021 38,117
At 31 December 2020
42,301
11. Debtors
2021 2020
f
General debtors 243 465
Gift Aid recoverable 31,605 14,419
Prepayments
and accrued income		 23,178 9,190
55,026 24,074
12. Creditors: amounts falling due within one year
2021 2020
f
Expense creditors 4,930 4,189
Other creditors 17,697 12,102
Accruals 13,861 12,589
Deferred income 13 4,258 9,351
40,746 38,231
13. Deferred income
2021 2020
Grants and donations
Balance as at 1 January 2021 9,351 7,013
Received in the year 21,393 22,384
Amount released to income and endowments (26,486) (20,046)
Balance as at 31 December 2021 4,258 9,351

Restricted funds
1 January Income and Expenditure 31 December
2021 endowments 2021
f
Special collections 2,191 906 (2,496) 601
Specific purposes 471,427 236,840 (607,612) 100,655
Pastoral and evangelistic 9,097 17,837 (5,974) 20,960
Depreciation (5,480) (5,480)
482,715 255,583 (621,562) 116,736

Unrestricted Unrestricted funds
1 January Income and Expenditure 31 December
2021f endowments 2021
General 106,575 845,009 (817,587) 133,997
Analysis of net assets between funds
Unrestricted Restricted
funds 'funds Total funds
f E
Fund balances at 31 December 2021 as
represented by:
Tangible fixed assets 7,872 30,245 38,117
Current Assets 166,871 86,491 253,362
Current Liabilities (40,746) (40,746)
133,997 116,736 250,733