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2021-12-31-accounts

Annual Report and Financial Statements of the Parochial Church Council For the year ended 31 December 2021

Christ Church Clifton is a UK registered charity number 1130529

CHRIST CHURCH CLIFTON YEAR ENDED 31 DECEMBER 2021

This is the annual report and the financial statements of the Parochial Church Council for Christ Church Clifton, for the year ended 31 December 2021. Christ Church Clifton is situated in Bristol and is part of the Diocese of Bristol within the Church of England.

Address: Church Office, Linden Gate, Clifton Down Road, Clifton, Bristol, BS8 4AH

Office Telephone: 0117 973 6524 Email address: office@ccweb.org.uk Website address: www.ccweb.org.uk

CLERGY AND EMPLOYED STAFF at 31st December 2021

Vicar

Reverend Paul Langham paul.langham@ccweb.org.uk

Curate

Reverend Chris Brown chris.brown@ccweb.org.uk

Assistant Minister (self-supporting) Reverend Janet Lee** janet.lee@ccweb.org.uk

Operations Manager

Mark Parsons mark.parsons@ccweb.org.uk

Discipleship Lead

Chris Whitwell chris.whitwell@ccweb.org.uk

Worship Lead

Julia Loveless** Julia.loveless@ccweb.org.uk

Youth Pastor (Job Share) Elliot Mocharrafie** elliot.mocharrafie@ccweb.org.uk

Youth Pastor (Job Share) Sophie Mocharrafie** sophie.mocharrafie@ccweb.org.uk

Children’s Pastor

Reverend Ruthy Lillington** ruthy.lillington@ccweb.org.uk

Administration Team Leader

Nick Carter nick.carter@ccweb.org.uk

Office Administrator (50%) Communications Manager (50%) Olivia Baker olivia.baker@ccweb.org.uk

Pastor for the Arts (self-supporting) Reverend Erica Bebb** erica.bebb@ccweb.org.uk

Verger

Kamran Zahid** kamran.zahid@ccweb.org.uk

** denotes part-time

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA

Auditor

Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

CHRIST CHURCH CLIFTON YEAR ENDED 31 DECEMBER 2021

Annual report of the PCC for the year ended 31[st] December 2021

Aims and purposes

The Christ Church Clifton Parochial Church Council (the PCC) is here to promote the whole mission of the Church in the ecclesiastical parish of Clifton and beyond. As followers of Jesus, we long to see ourselves, our community, our church and city transformed by the power of God.

We spent time during the Pandemic seeking to evaluate our priorities and activities through the lens of two questions – What has been effective? and What has been fruitful? This led us to address and answer three key questions:

Why do we exist?

How do we behave?

What do we do?

What we did in 2021

Despite the continuing disruption of plans as a result of the COVID pandemic, we began to restore a pattern of in-person public worship, both on Sundays and during the week – albeit initially a hybrid pattern mixing inthe building and zoom / livestreaming.

Thanks are due once again, to our clergy and staff team and to countless volunteers, who have worked tirelessly to ensure our common life has been able to continue; and to care especially for those members of our church family who have been especially vulnerable to the effects of the pandemic.

Our most evident achievement to the casual observer will perhaps be the completion of the RENEW project which saw the complete refurbishment of the Crypt (lower ground floor of the church building), together with some additional refurbishment of the main worship area upstairs. Our new facilities are superb, with a lift to the ground floor, level access throughout, accessible entrances and facilities, a new kitchen and toilets and larger/more flexible rooms. We are incredibly grateful to our main contractor, Kitto, and their subcontractors who delivered on time and under budget – and have extended a deferred payment facility at generous rates to cover the £103k we still owe. We are also grateful to the PCC’s RENEW team who steered this project through to completion. Given that we took on this £1.6m project in the middle of a global pandemic, this is a remarkable position to be in. The refurbished Crypt was formally re-opened by the Bishop of Bristol, the Rt Rev’d Vivienne Faull, in early October.

The year also saw:

The PCC

The PCC is a body corporate established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure along with relevant sections of the Synodical Government Measure and Charities Acts. All PCC members are trustees of the charity.

The following served as members of the PCC during 2021 and were PCC members at 31[st] December 2021 unless otherwise noted:

Structure, governance and management

Each area of the church’s life and ministry falls under the oversight of the vicar, staff team and the PCC. The PCC draws on the blessing of the skills of many members of our church family beyond the PCC members in order to help it achieve its responsibilities. A number of teams and subgroups comprise of PCC and other members of the church family. The key teams currently reporting to the PCC comprise:

Standing committee

The only committee required by law and operates as the principal executive arm of the PCC. Its function is to advance the work of the PCC between meetings subject to specific guidelines agreed by the PCC in November 2013. Its membership is determined by the PCC and currently comprises the vicar, the two churchwardens and up to three elected PCC members. Other clergy licenced to the Parish and the operations manager also attend Standing Committee meetings as appropriate.

Buildings Team

The PCC delegates responsibility to the Buildings Team for the care of the Church building and other buildings owned by the PCC, their fixtures and fittings, and surrounding property; together with building cleaning and any caretaking service.

Finance Team

The PCC delegates responsibility to the Finance Team for providing advice, support and practical guidance to the Standing Committee and PCC in relation to budgets, stewardship and the financial position of Christ Church. It also supports the staff in their day to day operations of budgeting and financial matters, whilst also discerning what is on God’s heart for His provision for the work of the Church. The Finance Team works in co-operation with and supports the role of the Treasurer.

Personnel Team

The PCC delegates responsibility to the Personnel Team for providing policies and advice on recruitment practice, performance management, employment terms and conditions, employment law and policies, and issues that emerge in staffing and training and development so that the PCC meets its legal obligations and shows a duty of care to its staff.

Risk Management Team

The PCC recognises and accepts its responsibility as an employer under duties prescribed by the Health and Safety at Work etc. Act 1974 and associated regulations. The PCC delegates responsibility for this to the Risk Management Team. This includes the duty to make and put into effect suitable arrangements for health, safety and welfare together with the funding and other resources necessary to carry them out. The PCC regards compliance with statutory requirements as a minimum standard and aspires to provide arrangements that will exceed the legal minimum in developing a culture where health and safety is always considered as a priority. Standards are based on good management principles.

Parish Safeguarding Officers

Appointed by the PCC to oversee safeguarding matters for the church. They respond to safeguarding incidents as required and seek to ensure the implementation of church safeguarding policy and guidance. They ensure the safer recruitment of staff and volunteers and that their training is kept up to date, with support from the church office. They liaise with the Diocesan safeguarding team as required for support.

Senior Leadership Team

Establishment of a Leadership Team (previously known as Core Team) was agreed by the PCC in November 2017 to work with Paul Langham, Vicar, on developing the day to day strategic leadership and direction for Christ Church. Membership of the team is at the discretion of the Vicar.

Recruitment, induction, training and mix of PCC members

It is an objective of the PCC to be broadly representative of the wider church family, in terms of gender, age, usual Sunday gathering attended and areas of ministry. Prior to the APCM, the congregation is informed of the forthcoming election to the PCC and the Deanery Synod. People are encouraged to stand for election and/or nominate others. The congregation is informed of resulting appointments immediately following the election. Ongoing training is available to members of the PCC, particularly in areas of their responsibilities as trustees such as finance and child protection.

The staff team

During 2021 there were six changes to the makeup of the staff team:

The employed staff team at 31[st] December was:

Mark Parsons (Operations Manager) Nick Carter (Administration Manager) Olivia Baker (Office Admin / Comms Manager) Kamran Zahid (Verger – 53%) Chris Whitwell (Discipleship Lead) Julia Loveless (Worship Lead – 20%) Ruthy Lillington (Children’s Pastor – 70%) Sophie & Elliot Mocharrafie (Youth Pastors – 100%)

(For part-time employees, hours worked is indicated as a percentage of a full working week)

The key management personnel consist of the members of the PCC and the Operations Manager.

The staff team is augmented by Sophie Brown, Lisette Ogborn and Jackie Langham, each in a self-supporting capacity.

From September 2021 until July 2022 Tom Bucker was also a member of the staff team as an unpaid intern.

We owe a great deal to the dedicated work of all of our staff, both past and present.

Renewal of our church building

After several years of slow progress, 2021 saw a significant step forward in our journey to renew the church building, with the completion of the building works to transform and renew the Crypt.

Working with our architects, Benjamin and Beauchamp, our main contractor, Kitto Construction, and with all the necessary Diocesan and local authority permissions in place, construction works on the £1.6m project (allowing for VAT refunded) commenced in September 2020 and was completed at the end of May 2021.

The works were funded by a combination of PCC funds (from historic legacies and the sale of a property) and a capital appeal. Despite the appeal being launched on the Sunday before the first lockdown in March 2020, the appeal raised a total of £485k (including Gift Aid recoverable). At the end of 2021 there is a shortfall of around £103,000 to still raise; this is being serviced by a deferred payment facility from Kitto.

The graph below shows a breakdown of total income (£1,808k) and total costs (£1,911k) for the RENEW project over the two years of the project works (2020 - 2021):

----- Start of picture text -----
RENEW PROJECT: Costs and Income 2020-21 Pre-contract
Specialist Contractor Costs - £48k
Costs - £27k
Main Contractor Costs - £1,818k
Gift Aid
Audit, Insurance
Reclaimed
Legacy Income Fundraising Grants & other Costs -
£76k £16k £78k £23k £18k
Sale of Property Fund Transfers Donations VAT Refund Shortfall
£624k £297k £407k £286k £103k
Interest
£0.5k
£k £200k £400k £600k £800k £1,000k £1,200k £1,400k £1,600k £1,800k £2,000k
Amount (£)
INCOME COSTS
----- End of picture text -----

Operations and Administration

The operations and administration team at Christ Church serves the church family by co-ordinating the resources of the church, including people, finances and support functions. Running a church like Christ Church involves working alongside many people including our 9 employees, 4 clergy members and numerous volunteers.

The administration team consists of the Operations Manager, the Administration Team Leader, two Administrators (one self-supporting), Communications Manager and Verger. The role of PA to the Vicar, which was funded for two years from the Legacy Fund, ended in June 2021.

In addition to the paid staff, the admin team is usually served by a number of volunteers who give time each week in the church office in Linden Gate. For much of 2021, as a result of the continuing impact of the Coronavirus Pandemic and government restrictions, Linden Gate was closed, with church staff working from home. Sadly, this resulted in limited opportunities for the work of the church office to be supported by volunteers.

Safeguarding

The PCC gives paramount importance to the nurture and care of children, young people and vulnerable adults in a safe and secure environment, and works to prevent harm to children and adults wherever possible. The PCC currently has four Parish Safeguarding Officers to oversee this area, two focusing on children and two on vulnerable adults. All staff and volunteers who work with children, young people or vulnerable adults are recruited safely (including DBS checks where appropriate) and undertake Diocesan approved safeguarding training on a regular basis. Safeguarding is a standing item on every PCC agenda. The PCC’s Safeguarding Policy and Guidance Notes for staff and volunteers are available on the safeguarding page of the church’s website.

Risk management

The main risks and the way they are being managed are considered by the PCC to be as follows:

The PCC’s Risk Management Team is tasked with overseeing risk management on behalf of the PCC.

Grant making policy

Each year the PCC sets a budget for global and local mission and ministry training. Recommendations for the allocation of this budget to individuals, mission partners and partner organisations are made by delegated authority.

During the annual audit of the 2020 accounts, it was pointed out that the wording of letters to mission partners, intended to give them a helpful indication of the PCC’s future intention had in effect created a multi-year financial commitment. Rather than recognise this in the 2020 accounts, the PCC chose to depart from the SORP in respect to grant payments and the reasons for and implications of this were set out in full in the 2020 Annual Report and Accounts.

From 2021, the PCC has adopted a solely annual approach to mission giving and no longer gives mission partners any indication of future commitment.

Investment policy

The only long-term investments held are endowment funds managed by the Diocese as trustees. These are invested in CBF Investment Fund Shares in order to spread risk. Any short-term funds are deposited with CAF Bank.

Fundraising policy

Christ Church Clifton receives the vast majority of its donation income from its congregation. However, we occasionally approach other organisations and grant-makers to assist with special projects. The PCC are committed to maintaining the highest legal and ethical standards in the way the church undertakes its fundraising activities. All fundraising takes place in-house and the church does not use any professional fundraisers or commercial participators. There were no complaints during the year arising from fundraising activities.

Church attendance and volunteer hours

At the Annual Meeting in May 2021 the revised Electoral Roll stood at 380 (an overall increase of 17 compared with November 2020, the date of the previous Annual Meeting (which was delayed due to COVID), with 22 names having been added to the Roll and 5 removed).

The combined average weekly Sunday attendance at Christ Church during October 2021 was 281 adults and 61 children. For the first half of 2021, in-person Gatherings were not possible due to COVID restrictions and the implications of the RENEW project. An in-person gathering was held on Easter Sunday and then with limited numbers from May 2021, with most people continuing to join online. During the Summer, a series of “gather-in” events were held in-person only each Sunday before the new post-COVID pattern of Sunday gatherings began on 12[th] September. Our current pattern is as follows:

The running of Christ Church relies on the commitment of a significant number of volunteers. The hours given in many and various ways are not quantifiable but in 2019, before the pandemic, we reported 273 people on our combined volunteer list (77% of the church Electoral Roll). The COVID pandemic and social distancing restrictions has had an impact on the number of people willing to volunteer but over the course of the second half of 2021 we have slowly rebuilt some of our key volunteer teams focusing on children and youth work, Sunday hospitality and Sunday tech. This rebuilding work will continue into 2022.

Financial report

Overview of the church’s funds

The church’s finances are split into the following main funds:

Most (84%) of the unrestricted General Fund income is from regular giving under the Provision scheme together with the Gift Aid reclaimed on these gifts; with most of the remaining income generated from rental income, grants and investments. The main expenditure items in this fund are the “parish share” contribution, supporting mission in our Diocese and paying for clergy, then staff related costs, other mission investment and maintaining and operating the church and its property and equipment.

Headlines for 2021 - Unrestricted General Fund

Inevitably the COVID-19 pandemic continued to have a significant impact on both income and expenditure.

Income : Overall income was about £535k, down by about £66k (~11%) compared to 2020.

Expenditure: Overall expenditure was about £560k, down by £19k (~3%) compared to 2020.

Headlines for 2021 - designated Legacy Funds

When legacies are received, they are set aside by the PCC, and designated for use on specific projects.

At the start of 2021, the balance of the Legacy Fund stood at £85k. The PCC decided to transfer £50k of this to the General Fund and £32k to the RENEW Fund. The remaining £3k was used to fund the salary of the Vicar’s PA until April, as per the initial agreement to fund this post.

During 2021 a legacy of £76k was received from the estate of Idris Williams, and the PCC decided to transfer the whole of this to the RENEW fund.

Later in 2021, the Fund received a legacy of £5k from the estate of David Warlow. At the end of 2021, the balance of the Legacy Fund therefore stood at £5k.

Headlines for 2021 - Renew Funds (Designated and Restricted)

In 2021 the RENEW project works to refurbish the Crypt were completed. At the beginning of 2021 the Designated Renew Fund stood at £799k and the Restricted Renew Fund was empty. Key points are as follows:

Reserves Policy

The PCC holds some reserves on the unrestricted General Fund in line with accepted best practice in the stewardship of the finances of charities in general as well as for churches. This is to provide assurance to the PCC, and wider church family, that we can manage if there is an unexpected or unforeseen challenge. In 2021 the PCC agreed a revised policy to maintain these reserves between £125k and £175k, representing the equivalent of three months’ normal levels of expenditure.

At the end of 2021 the unrestricted General Fund reserves stood at £127,251 and the designated Legacies Fund stood at £5,000.

The Trustees have decided for this year only to disclose the Renew designated fund with a negative closing balance of £103,224.19 to illustrate the deficit on the Renew Project against what was set aside for it and donated toward it. This deficit, which when taken together with the General Fund, combined to total £24,027.25. The Trustees aim to budget for an increase in unrestricted General Funds over the coming years to bring this combined total within the target reserve policy.

2022 – General Fund: Maintaining balanced income and expenditure

In setting budgets for 2022, we have assumed an end to lockdown and with it a return to full operations, with expenditure back to pre-COVID levels. The reduced lettings income from properties in Linden Gate and Oakfield Road will reduce income by £60k compared to previous years.

Staff will receive a 4.8% inflationary pay rise from 1[st] January 2022 following a recommendation from the PCC’s Personnel Team (£9k impact on General Fund). Other costs are budgeted to be held at current levels.

As mentioned earlier, an additional £50k pa in regular giving income has already been pledged and we will continue to lay before the church family opportunities to pledge and give during 2022 in order to achieve a balanced budget.

Funds held as Custodian Trustee

Christ Church Clifton acts as a custodian trustee holding cash on behalf of Bristol Diocesan Board of Finance for fees received from life events (weddings and funerals) conducted at Christ Church or by Christ Church clergy. Bristol Diocesan Board of Finance objectives are consistent with those of Christ Church Clifton. Christ Church Clifton holds this cash in a separate designated bank account to safeguard the movement of these funds. Please do refer to note 15 for details of the funds received, payments made and balances held on behalf of Bristol Diocesan Board of Finance in the year.

Our future and objectives for 2022

During the coming year the PCC will pursue the following objectives:

Encouraging wholehearted discipleship

Using our buildings for mission

Maximising our resources

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. 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.

Signed on behalf of the Parochial Church Council

Paul Langham

Paul Langham Vicar and Chair of the PCC 25[th] April 2022

David Newton

David Newton PCC Treasurer

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE PCC OF CHRIST CHURCH, CLIFTON

YEAR ENDED 31 DECEMBER 2021

Opinion

We have audited the financial statements of The PCC Christ Church Clifton (the “Charity”) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of the Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion, the financial statements:

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 trustees’ 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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees 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.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities to the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 and 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 with 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/apb/scope/private.cfm. This description forms part of our auditor’s report.

Joshua Kingston

Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 25[th] April 2022

CHRIST CHURCH CLIFTON

STATEMENT OF FINANCIAL ACTIVITIES (SoFA)

YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
Unrestricted Restricted Endowment Total Funds Total Funds
Funds Funds Funds 2021 2020
Note £ £ £ £ £
Income from:
Donations and Legacies
Provision (Regular Giving) 364,414.85 - - 364,414.85 402,775.15
Gift Aid 82,913.64 22,786.09 - 105,699.73 145,463.75
Restricted Donations 10,050.00 138,870.95 - 148,920.95 325,874.74
Other Giving 721.11 - - 721.11 2,583.57
Grants and Donations Received 228,076.98 23,271.00 - 251,347.98 102,233.13
Legacies 80,930.63 - - 80,930.63 -
Charitable Activities
Rental Income 61,904.51 - - 61,904.51 80,299.41
Fees from Weddings and Funerals 3,844.70 - - 3,844.70 1,896.00
Events Income 863.75 - - 863.75 2,146.94
Spire Coffee Shop Income - - - - 4,877.52
Other Income - 15,488.63 - 15,488.63 635.28
Income from Investments
Investment Income and Interest 5,815.36 - - 5,815.36 6,512.66
Total income 839,535.53 200,416.67 - 1,039,952.20 1,075,298.15
Expenditure on:
Charitable Activities
Mission 2 66,748.40 33,920.68 - 100,669.08 109,457.59
Renew Expenditure 1,233,120.19 160,393.80 - 1,393,513.99 506,780.96
Parish Share 201,000.00 - - 201,000.00 201,000.00
Staff and Associated Costs 222,476.80 - - 222,476.80 216,866.42
Offices and Gatherings 33,678.55 183.00 - 33,861.55 27,909.47
Church Building 48,547.71 924.87 - 49,472.58 80,310.71
Governance 12,196.27 5,280.00 - 17,476.27 14,427.67
Spire Coffee Shop - - - - 24,095.25
Total Expenditure 1,817,767.92 200,702.35 - 2,018,470.27 1,180,848.07
Gains on Investments (unrealised) - - 28,382.89 28,382.89 12,810.06
Net Income/(Expenditure) (978,232.39) (285.68) 28,382.89 (950,135.18) (92,739.86)
Reconciliation of Funds:
Total Funds at 1 January 1,514,657.19 5,140.12 199,417.16 1,719,214.47 1,811,954.33
Total Funds at 31 December 12 536,424.80 4,854.44 227,800.05 769,079.29 1,719,214.47
----- End of picture text -----

Comparative fund movements are shown in note 5.

The Charity has no recognised gains or losses other than the results for the year as set out above. All of the activities of the charity are classed as continuing.

The notes on pages 19 to 26 form part of these financial statements.

CHRIST CHURCH CLIFTON

BALANCE SHEET AS AT 31 DECEMBER 2021

Note
Fixed Assets
Tangible Fixed Assets
7
Investment Assets
8
Current Assets
Debtors and Prepayments
9
Cash at Bank and in Hand
10
Creditors : Amounts falling due within one year
11
Net Current Assets
Net Assets
Funds
Unrestricted Funds
13
General Reserves
Church Legacies Fund
Renew Designated Fund
Property Fund
Equipment Fund
Restricted Funds
13
Other Funds
Endowment Funds
13
Investment Asset Fund		 2021
£
507,397.55
227,800.05
735,197.60
24,445.03
138,521.44
162,966.47
129,084.78
33,881.69
769,079.29
127,251.44
5,000.00
(103,224.19)
29,027.25
472,047.00
35,350.55
536,424.80
4,854.44
4,854.44
227,800.05
769,079.29		 2020
£
521,638.81
199,417.16
721,055.97
49,946.50
967,358.02
1,017,304.52
19,146.02
998,158.50
1,719,214.47
108,488.17
85,357.19
799,173.02
993,018.38
472,047.00
49,591.81
1,514,657.19
5,140.12
5,140.12
199,417.16
1,719,214.47

These financial statements were approved by the Parochial Church Council on 25th April 2022 and are signed on its behalf by:

Paul Langham

David Newton

Paul Langham Vicar and Chair of the PCC

David Newton

PCC Treasurer

The notes on pages 19 to 26 form part of these financial statements.

CHRIST CHURCH CLIFTON STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
2021 2020
£ £
Net Cash Inflow from Operating Activities A (828,142.47) (118,160.30)
Investing Activities
Payments for Tangible Fixed Assets (6,509.47) (7,590.10)
Investment Income 5,815.36 6,512.66
(694.11) (1,077.44)
Net Cash Inflow for the Year B (828,836.58) (119,237.74)
A Statement of Financial Activities:
Net Income / (Expenditure) for the Year (950,135.18) (92,739.86)
Unrealised Investment Gains (28,382.89) (12,810.06)
Depreciation of Tangible Fixed Assets 20,750.73 20,327.14
Increase / (Decrease) in Creditors 109,938.76 7,154.90
(Increase) / Decrease in Debtors 25,501.47 (33,579.76)
Investment Income (5,815.36) (6,512.66)
Net Cash Inflow from Operating Activities (828,142.47) (118,160.30)
B Analysis of Changes in Cash during the year
Cash at Bank and in Hand
End of Year 138,521.44 967,358.02
Start of Year 967,358.02 1,086,595.76
(828,836.58) (119,237.74)
----- End of picture text -----

Cashflow restrictions

Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside of its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.

The notes on pages 19 to 26 form part of these financial statements.

CHRIST CHURCH CLIFTON

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (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 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) issued 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 investment assets, which are shown at market value.

The trustees consider that there are no material uncertainties about the Church's ability to continue as a going concern because over 80% of its unrestricted income is made up of giving by standing order, which reflects an ongoing commitment to continue giving in future. The assessment of going concern has been considered in light of the COVID-19 pandemic and it is believed that the Church has sufficient reserves and/or giving potential to be able to meet these challenges.

The PCC constitutes a public benefit entity as defined by FRS102.

Presentation of accounts

In previous years, accounts have been presented to the nearest pound. This created rounding errors which were difficult to resolve if tables were also to cast (add up). Since 2020, the accounts have been presented including pence.

Funds

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

Restricted funds are those derived from gifts which are restricted to a particular purpose.

The accounts include transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church groups that owe an affiliation to another body nor those that are informal gatherings of church members.

Income

All income is recognised once the PCC has entitlement to the income, there is sufficient certainty of receipt and it is therefore probable that the income will be received, and the amount of income can be measured reliably.

Income from gifts

Planned giving receivable by standing order is recognised when received. Collections are recognised when received by or on behalf of the PCC. Gift aid is accrued on donations when there is a valid declaration from the donor, and accounted for in the year to which the giving relates. Any Gift Aid amount recovered on a donation is treated as an addition to the same fund as the initial donation unless the donor or terms of the appeal have stated otherwise.

Grants

Grants to the PCC are included in the SoFA when the PCC becomes entitled to the income, it is probable that the income will be received, and the amount can be measured reliably. Grant income received from the Listed Places of Worship Grant Scheme is recognised when the applicable expenditure is incurred by the PCC.

Legacy income

Legacy income is recognised when receipt is probable, that is, when there has been grant of probate, the executors have established there are sufficient net assets to pay the legacy, and any conditions attached have been met or are in the control of the church.

Other income

Income to cover the cost of certain church events is accounted for gross, rather than being netted off against related costs within reported expenditure. Rental income from the letting of the church owned properties is recognised when the rental is due. Dividends and interest are accounted for when receivable. Realised gains and losses are recognised when investments are sold. Unrealised losses are accounted for on the revaluation of investments at 31 December each year.

Donated goods, facilities and services

Donated goods, facilities and services are recognised as income with an equivalent amount recognised as an expense, except for the contribution of volunteers which it is considered impractical to reliably measure for accounting purposes. They are recognised on the basis of the value of the gift to the PCC which is the amount that the PCC would have been willing to pay to obtain such services or facilities of equivalent economic benefit on the open market.

Interest receivable

This is included in the accounts upon notification of the interest by the Bank.

CHRIST CHURCH CLIFTON

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the PCC to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Grants and donations

Where the PCC gives a grant with conditions for its payment being a specific level of service to be provided, such grants are only recognised in the SoFA once the recipient has provided the specified service. Where there are no conditions attached to a grant made by the PCC that enables them to realistically avoid the commitment, a liability for the full funding obligation is recognised when communicated to the grant recipient.

The PCC supports a number of mission partners and mission organisations. It does not give mission partners any indication of future commitment, and has adopted a solely annual approach to mission giving.

Diocesan parish share

The diocesan parish share is accounted for in accordance with the agreed intention of the PCC.

Governance

Governance costs represent the expenditure related to statutory requirements such as audit or independent examination, insurance and legal advice. They have been included within support costs relating to charitable activities.

Fixed Assets

Consecrated land and buildings and moveable church furnishings

The PCC does not own and hold the church and vicarage. Legal custodianship of the church lands and vicarage lies with the diocesan authorities and the incumbent. Day to day custodianship is controlled by the incumbent (vicar) and churchwardens. The churchwardens also have custodianship of the moveable items within the church on behalf of the people of the parish. The PCC supports the incumbent in the day to day care of the people of the parish. Expenditure incurred during the year on consecrated or beneficed buildings and moveable church fittings, whether maintenance or an improvement is normally written off as expenditure in the SoFA and is separately disclosed. Major new capital items are capitalised and depreciated over the greater of their estimated useful working lives.

Freehold Property

The PCC owns two residential properties located in close proximity to the church building. These properties were purchased and are held for the charitable benefits derived from their close proximity to the church. Such benefits include the ability to offer housing to staff and volunteers, where the proximity to the church is to the benefit of its operations. Where vacancies arise, the PCC seek to rent rooms to such volunteers or staff. Where no such tenants are in prospect, the charity makes short-term lets to other members of the public to steward its resources well. As the charity holds the properties primarily for the benefit of its charitable purposes rather than rental, the properties are held as functional fixed assets and not as investment properties. If in the future the trustees were to determine that the primary use of the property had changed to be for rental purposes then the property would need to be reclassified as an investment property.

Other fixtures, fittings, church chairs and office equipment

Fixtures, fittings and equipment including IT assets are valued at cost, and depreciated at 20% per annum on a straight line basis, reflecting the minimum expectation of useful life of the asset. Expenditure on individual assets costing over £500 that will have ongoing benefit for several years is capitalised. Church chairs are depreciated at 10% per annum on a straight line basis, reflecting the manufacturer’s guarantee period.

Investments

Listed and unlisted investments are valued at their market value at 31 December.

Current Assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the PCC. Subsequently, they are measured at the level of cash or other consideration expected to be received.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised when the PCC has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Liabilities are measured on recognition at their historical cost and then subsequently at the best estimate of the amount required to settle the obligation at the reporting date.

Pension scheme

The church operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the Statement of Financial Activities in the year they are payable.

Realised gains and losses

All gains and losses are taken to the SoFA as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or purchase value if purchased during the year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.

CHRIST CHURCH CLIFTON

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

2 Grants to Mission Partners

Mission fund expenditure covers mission and evangelism, student and young adults work, youth work, children's work, seniors ministry, creative arts ministry and grants to organisations. Within the total mission spend, The following unrestricted general fund and restricted mission fund grants were made during the year:

Heart for the individual:
Christian Unions
Other
Heart for the city:
InHope (formerly Crisis Centre Ministries)
Bristol Schools Connection
Falcon Camps
St. Andrew's Avonmouth and St Peter's Lawrence Weston
North West Bristol Foodbank
Heart for the nations:
TearFund Connected Churches Project in Kitgum, N Uganda
Wycliffe Bible Translators(Details withheld for security reasons)
Wycliffe Bible Translators(Details withheld for security reasons)
Uganda Christian University, Mukono, Uganda
Bristol International Student Centre
Engineering Ministries International (David Burgess)
Ab Janani Luwum Theological College, Gula, Uganda
Hodgkin House
Deanery Ugandan Fund
Grants
(Comparative year: 2020)
Heart for the individual:
Christian Unions
Other
Heart for the city:
InHope (formerly Crisis Centre Ministries)
Bristol Schools Connection
Falcon Camps
St. Andrew's Avonmouth and St Peter's Lawrence Weston
North West Bristol Foodbank
Carols for Bristol
Caring at Christmas
Heart for the nations:
TearFund Connected Churches Project in Kitgum, N Uganda
Wycliffe Bible Translators(Details withheld for security reasons)
Wycliffe Bible Translators(Details withheld for security reasons)
Jews for Jesus (Stephen Pacht in Geneva)
Bristol International Student Centre
Engineering Ministries International (David Burgess)
Bishop of Bristol's Appeal for Ugandan Pastors
Hodgkin House
Global Connections		 Unrestricted
Funds
£
400.00
1,100.00
1,500.00
4,000.00
5,000.00
2,500.00
-
-
11,500.00
10,000.00
10,000.00
10,000.00
5,581.44
3,000.00
1,000.00
1,129.56
500.00

500.00
41,711.00
Unrestricted
Funds
£
400.00
1,100.00
1,500.00
4,000.00
5,000.00
4,000.00
-
-
-
-
13,000.00
10,000.00
10,000.00
10,000.00
7,500.00
4,500.00
3,000.00
1,000.00
500.00

265.00
46,765.00		 Restricted
Funds
£
-
-
-
-
-
-
23,500.00
8,000.00
31,500.00
1,500.00
-
-
-
-
-
-
-
-
1,500.00
Restricted
Funds
£
-
-
-
-
-
-
22,000.00
10,000.00
2,000.00
268.59
34,268.59
268.60
-
-
-
-
-
-
-
-
268.60		 Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total Funds
2021
£
400.00
1,100.00
1,500.00
4,000.00
5,000.00
2,500.00
23,500.00
8,000.00
43,000.00
11,500.00
10,000.00
10,000.00
5,581.44
3,000.00
1,000.00
1,129.56
500.00
500.00
43,211.00
Total Funds
2020
£
400.00
1,100.00
1,500.00
4,000.00
5,000.00
4,000.00
22,000.00
10,000.00
2,000.00
268.59
47,268.59
10,268.60
10,000.00
10,000.00
7,500.00
4,500.00
3,000.00
1,000.00
500.00
265.00
47,033.60

NOTES TO THE FINANCIAL STATEMENTS

CHRIST CHURCH CLIFTON

YEAR ENDED 31 DECEMBER 2021

3
Employee costs
Salaries
Casual Staff
Employer's National Insurance contributions
Employer's pension contributions
Recruitment Costs		 2021
£
175,699.75
230.00
3,322.44
15,244.83
-
194,497.02		 2020
£
191,268.79
-
7,194.34
16,229.36
40.00
214,732.49

No employee earned more than £60,000 during the year (2020: none).

During 2021, the average number of staff employed was 10, (2020: 11). The full time equivalent number of staff was 7 (2020: 8). The total amount of salaries and benefits received by key management personnel (salary, employer's NI and pension contributions) was £40,473 (2020: £40,068).

4
Net Income/Expenditure
Net income expenditure is stated after charging:
Depreciation
Audit
5
Comparative Fund Movements (previous year - 2020)
Income from:
Donations and Legacies
Provision (Regular Giving)
Gift Aid
Restricted Donations
Other Giving
Grants and Donations Received
Charitable Activities
Rental Income
Fees from Weddings and Funerals
Events Income
Spire Coffee Shop Income
Other Income
Income from Investments
Investment Income and Interest
Total Income
Expenditure on:
Charitable Activities
Mission
Renew Expenditure
Parish Share
Staff and Associated Costs
Offices and Gatherings
Church Building
Governance
Spire Coffee Shop
Total Expenditure
Gains on Investments (unrealised)
Net Income/(Expenditure)
Reconciliation of Funds:
Total Funds at 1 January 2020
Total Funds at 31 December 2020		 Unrestricted
Funds
£
402,775.15
89,760.89
20,040.00
2,583.57
99,923.99
80,299.41
1,896.00
2,146.94
4,877.52
635.28
6,512.66
711,451.41
72,227.90
163,731.77
201,000.00
216,866.42
27,607.25
80,310.71
14,427.67
24,095.25
800,266.97
-
(88,815.56)
1,603,472.75
1,514,657.19		 Restricted
Funds
£
-
55,702.86
305,834.74
-
2,309.14
-
-
-
-
-
-
363,846.74
37,229.69
343,049.19
-
-
302.22
-
-
-
380,581.10
-
(16,734.36)
21,874.48
5,140.12		 2021
£
20,750.73
8,400.00
Endowment
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,810.06
12,810.06
186,607.10
199,417.16		 2020
£
20,327.14
5,784.00
Total Funds
2020
£
402,775.15
145,463.75
325,874.74
2,583.57
102,233.13
80,299.41
1,896.00
2,146.94
4,877.52
635.28
6,512.66
1,075,298.15
109,457.59
506,780.96
201,000.00
216,866.42
27,909.47
80,310.71
14,427.67
24,095.25
1,180,848.07
12,810.06
(92,739.86)
1,811,954.33
1,719,214.47

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

CHRIST CHURCH CLIFTON

6 Related Party Transactions

Three PCC members, Chris Brown, Paul Langham and Neil Shepherd are remunerated by the Bristol Diocesan Board of Finance to which Parish Share is paid. Christ Church Children and Families Trust operates the Christ Church Pre-school from the church building and paid £5,000 in rent in 2021 (2020: £3,000). Orriss Design, owned by PCC member Mark Orriss, provided graphic design services to the PCC. This was not used in 2021 (2020: £945). 7 Cakes Cafe, owed by Krystina Zahid, wife of PCC employee Karman Zahid, provided catering services totalling £690 (2020: none).

Other than disclosed above, no member of the PCC received any payment during the year.

During 2021 the income arising from the giving of PCC members and their close family members (spouses, parents, siblings, and children) was £96,144 (2020: £174,149). This significant decrease was largely a result of giving dedicated to the RENEW building project received in 2020. Giving to the General Fund from this group was £67,883 (2020: £73,476). The decrease on 2020 is a result of changes in membership of the PCC.

Freehold
property
Fixtures,
fittings &
equipment
(Property Fund)
£
£
Cost
At 1 January 2021
472,047.00
174,699.97
Additions
-
4,296.00
At 31 December 2021
472,047.00
178,995.97
Depreciation
At 1 January 2021
-
137,971.30
Charge for the year
-
12,144.60
At 31 December 2021
-
150,115.90
Net book value
At 31 December 2021
472,047.00
28,880.07
At 31 December 2020
472,047.00
36,728.67
8
Investments
10,107 CBF investment fund shares at valuation, held in an endowment fund
Market value b/f 1 January 2021
Net gain on revaluation
Market value at 31 December 2021
Historical cost of investments
9
Debtors
Gift Aid Recoverable
Prepayments
Accounts Receivable
10
Cash at Hand and In Bank
Cash In Bank
Credit Card Balance		 Chairs
£
70,000.40
-
70,000.40
63,087.96
6,912.44
70,000.40
-
6,912.44		 Sound and
projection
systems
£
153,887.82
2,213.47
156,101.29
147,937.12
1,693.69
149,630.81
6,470.48
5,950.70


Church
equipment
(Equip Fund)
£
398,588.19
6,509.47
405,097.66
348,996.38
20,750.73
369,747.11
35,350.55
49,591.81
2021
£
227,800.05
199,417.16
28,382.89
227,800.05
8,585.76
2021
£
6,314.44
9,915.41
8,215.18
24,445.03
2021
£
141,774.86
(3,253.42)
138,521.44

Total
£
870,635.19
6,509.47
877,144.66
348,996.38
20,750.73
369,747.11
507,397.55
521,638.81
2020
£
199,417.16
186,607.10
12,810.06
199,417.16
8,585.76
2020
£
10,191.39
8,679.88
31,075.23
49,946.50
2020
£
968,858.47
(1,500.45)
967,358.02

In order to provide easy reconciliation to the bank balances shown in our accounts package, the credit card balance is treated as cash.

CHRIST CHURCH CLIFTON

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

11
12		 Creditors: amounts falling due within one
Accruals
Accounts Payable
Funds
Endowment Fund
Restricted Funds
Internal Restricted Funds
Mission Funds
Renew Restricted Funds
Total Restricted Funds
Designated Funds
Legacies Fund
Equipment Fund
Property Fund
Renew Fund
General Fund
Total Unrestricted Funds
Total Funds		 year
Balance b/f
01/01/2021
199,417.16
5,140.12
-
-
5,140.12
85,357.19
49,591.81
472,047.00
799,173.02
108,488.17
1,514,657.19
1,719,214.47		 Income
-
1,524.87
33,035.00
165,856.80
200,416.67
80,930.63
-
-
223,823.16
534,781.74
839,535.53
1,039,952.20		 Expenses
-
(1,810.55)
(33,035.00)
(165,856.80)
(200,702.35)
(3,188.00)
(20,750.73)
-
(1,234,320.19)
(559,509.00)
(1,817,767.92)
(2,018,470.27)		 Transfers
-
-
-
-
-
(158,099.82)
6,509.47
-
108,099.82
43,490.53
-
-		 2021
£
7,200.00
121,884.78
129,084.78
Gains and
Losses
28,382.89
-
-
-
-
-
-
-
-
-
-
28,382.89		 2020
£
5,700.00
13,446.02
19,146.02


Balance c/f
31/12/2021
227,800.05
4,854.44
-
-
4,854.44
5,000.00
35,350.55
472,047.00
(103,224.19)
127,251.44
536,424.80
769,079.29
Funds
(Comparative year: 2020)
Endowment Fund
Restricted Funds
Internal Restricted Funds
Mission Funds
Renew Restricted Funds
Total Restricted Funds
Designated Funds
Legacies Fund(excluding Spire Coffee Shop)
Spire Coffee Shop
Equipment Fund
Property Fund
Renew Fund
General Fund
Total Unrestricted Funds
Total Funds		 Balance b/f
01/01/2020
186,607.10
7,223.48
-
14,651.00
21,874.48
397,301.16
(45,710.13)
103,826.27
472,047.00
623,762.32
52,246.13
1,603,472.75
1,811,954.33		 Income
-
609.14
34,537.19
328,700.41
363,846.74
-
17,666.67
-
-
93,092.47
600,692.27
711,451.41
1,075,298.15		 Expenses
-
(2,692.50)
(34,537.19)
(343,351.41)
(380,581.10)
(9,805.26)
(24,095.25)
(20,327.14)
-
(167,681.77)
(578,357.55)
(800,266.97)
(1,180,848.07)		 Transfers
-
-
-
-
-
(302,138.71)
52,138.71
(33,907.32)
-
250,000.00
33,907.32
-
-		 Gains and
Losses
12,810.06
-
-
-
-
-
-
-
-
-
-
-
12,810.06

Balance c/f
31/12/2020
199,417.16
5,140.12
-
-
5,140.12
85,357.19
-
49,591.81
472,047.00
799,173.02
108,488.17
1,514,657.19
1,719,214.47

CHRIST CHURCH CLIFTON

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

12 Funds - continued

Prior to 2020, the General Fund, Equipment Fund and Renew Designated Fund contained a mixture of cash and tangible fixed assets. In 2020, transfers were made so that all non-property tangible fixed assets are held in the Equipment Fund, which is the intent of having such an Equipment Fund. The balance of cash in this fund after these transfers were made was moved to the General Fund.

Endowment Fund

These funds represent the market value of the investment shares held in the CBF Investment Fund, as outlined in note 8.

Restricted Funds

Internal Restricted Funds

These funds have been given directly to the church for specific restricted purposes within the church.

Mission Funds

These funds were donated to various missionary organisations and activities outside the church.

Renew Restricted Funds (including Disabled Toilet Fund)

These funds are donated towards the costs of the renewal of the church building.

Designated Funds

Church Legacies Funds

Legacies received are set aside from the General Fund by the PCC, to keep them separate from the General Fund. Two new legacies were received during 2021: £75,930.63 from the estate of Edris Williams and £5,000 from the estate of David Warlow (2020: no legacies were received). During the year, £108,099.82 was transferred from the Legacy Fund to the RENEW project and £50,000 was transferred to the General Fund.

The Spire Coffee Shop Fund was used to fund the work of The Spire Coffee Shop until it closed in October 2020. At the point of closure, £52k was transferred from the Legacy Fund to the Spire Coffee Shop Fund, to give a zero balance in the Spire Coffee Shop Fund.

Equipment Fund

These funds represent the net book value of fixtures, fittings and equipment purchased by the PCC.

Property Fund

These funds represent the net book value of the following properties, owned by the PCC:

Linden Gate
60 Clifton Park Road		 100,000
£
372,047
£
472,047
£

£335,126 of the purchase cost of 60 Clifton Park Road was provided by The Church Hall Trust and the trustees thereof would have discretion over the reinvestment of 90% of the proceeds if the property was sold.

Renew Development Fund

These funds have been set aside by the PCC to cover costs of the renewal of the church building. A building was disposed of in 2013 in order to provide funds for this purpose.

The Trustees have decided for this year only to disclose the Renew designated fund with a negative closing balance of £103,224.19 to illustrate the deficit on the Renew Project against what was set aside for it and donated toward it. The Trustees anticipate some further income and/or donations to meet a portion of the deficit in the coming year. Had funds from general funds been allocated to meet this deficit at the year-end, the closing balance on general funds would be £24,027.25.

13 Analysis of Net Assets between Funds

Fixed Assets
Current Assets
Current Liabilities		 General
Fund
£
-
129,461.28
(2,209.84)
127,251.44		 Designated
Funds
£
507,397.55
23,370.75
(121,594.94)
409,173.36		 Restricted
Funds
£
-
10,134.44
(5,280.00)
4,854.44		 Endowment
Fund
£
227,800.05
-
-
227,800.05		 Total
2021
£
735,197.60
162,966.47
(129,084.78)
769,079.29

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

CHRIST CHURCH CLIFTON

13 Analysis of Net Assets between Funds - continued

(Comparative year: 2020)

Fixed Assets
Current Assets
Current Liabilities		 General
Fund
£
-
111,082.92
(2,594.75)
108,488.17		 Designated
Funds
£
521,638.81
900,235.15
(15,704.94)
1,406,169.02		 Restricted
Funds
£
-
5,986.45
(846.33)
5,140.12		 Endowment
Fund
£
199,417.16
-
-
199,417.16		 Total
2021
£
721,055.97
1,017,304.52
(19,146.02)
1,719,214.47

14 Commitments

The PCC had the following commitments at the end of the financial year for which no provision has been made.

Renew Project 2021
£
-		 2020
£
1,228,560.66

The shortfall in the Renew funds at the end of 2021 are being funded via a deferred payment facility with the main contractor, Kitto Construction Ltd. This facility attracts interest at a rate of 3% pa. In broad terms, the fundraising target to cover this shortfall is c.£96,000.

15 Funds held as custodians for others

At the year end, the PCC held £1,114.60 (2020: £2,348.30) of cash balances under the control of Bristol Diocesan Board of Finance. These balances have been excluded from the balance sheet.

In the year funds were received on behalf of Bristol Diocesan Board of Finance totalling £8,571.00 (2020: £3,897.30). Payments made as a custodian trustee on behalf of Bristol Diocesan Board of Finance totalled £9,804.70 (2020: £3,520).

Further details of the custodian trustee relationships can be found within the trustees’ report.

16 Prior-year SORP departure

In the prior-year, grant expenditure to mission partners was recognised on a cash basis rather than a commitment basis.

This decision was made by the Trustees in the 2020 accounts to present users with the most useful data on giving, as Trustees did not intend to create multi-year grant commitments. In the 2021 year, communication with mission partners was amended to communicate support each year.