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← The Parochial Church Council Of The Ecclesiastical Parish Of Redland, Bristol

2023-12-31-accounts

REDLAND PARISH CHURCH

Annual Report and Financial Statements

of the Parochial Church Council

for the year ended 31st December 2023

Charity number: 1131061

Contents

Annual Report of the PCC

Report of the Independent Examiner

Statement of Financial Activities

Balance Sheet as at 31st December 2023

Cashflow Statement for the year ended 31st December 2023

Notes to the Financial Statements

Page 1

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

ANNUAL REPORT OF THE PCC

For the year ended 31st December 2023

OBJECTIVES AND ACTIVITIES

Background

The PCC has the responsibility of co-operating with the incumbent and his ministerial colleagues in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Rev William Fairbairn is the incumbent vicar with responsibility for running the Parish. He is assisted in this task by the Associate Minister, licenced clergy, lay ministers and students from Trinity College, with additional support provided by the Church Wardens.

Objectives and Activities

The Parish is part of the Diocese of Bristol. The Parish mission is summarised in the phrase ‘ Inviting and equipping people to be apprentices of Jesus; being formed by him to be a visible presence of renewal where he has placed us’.

As a parish we have stated values : we value: ‘Being with Jesus’, ‘Deep Formation’, ‘Courageous Vulnerability’, ‘Whole Life Mission’, behaving as a ‘Growing Family’ and being ‘Next Generation Conscious’.

Our strategy for realising our mission is expressed through the headings: Gather, Join, Pattern (not yet developed) and Relate:

Gather (Get your directions and fuel)

We want to envision and equip people to live as apprentices of Jesus in a post Christian world. We do this primarily through teaching and worship on Sundays, where we actively create space for people to encounter the transformative love of the Father, in the person of Jesus and be renewed by His Spirit.

Join (Join with others in apprenticeship to Jesus)

We are made to live this life together. We want to create contexts where people can form committed, deep relationships with others where we share the journey of apprenticing our lives to Jesus. These should be marked by vulnerability, encouraging us to step more fully into who God has made us to be. Primarily this will be through Grow Groups and serving others together.

Pattern (Forming rhythms of life that are centred on Jesus)

Our lifestyle determines the people we are becoming. Unless you have a lifestyle that is intentionally revolved around Jesus we will be shaped by the culture and world that we live in. Forming intentional and specific patterns and rhythms of life, both corporately and individually, open us up to the work of Spirit transforming us to be a presence of renewal.

Relate (Engage relationally in love with those where we are placed and called)

Relationship is central to how we outwork our mission. We want to encourage and provide opportunities for people to build relationships with those around them, outside our church family, to share the good news and love of Jesus in word and action, both locally and globally. This includes neighbours, friends, colleagues, those in deprived parts of the city and the world.

The following descriptive statements help guide us in measuring the extent to which the strategy is being effectively realised in the parish:

We know we are achieving our mission when:

Page 2

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

When planning our activities for the year, the incumbent and the PCC always have in mind the Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. Through our staff, volunteers and activities, our work seeks to further our mission in line with our strategy through:

Gather :

Join:

Relate:

In addition to our general aims and activities, run to further our mission, we had a specific focus on the following major projects:

  1. Deepen the apprenticeship of all ages to Jesus in particular this year we have explored how we can help families grow as contexts for discipleship.

  2. Clarify and focus the Relate part of our strategy

  3. Continue to grow our ministry with under 18s within a challenging market for the employment of children's and youth workers

  4. Continue to invest in engaging those under 40, developing new leaders for and from within this demographic.

  5. Develop and focus the Pattern strand of our strategy amoungst members of all ages.

Public Benefit Statement

The PCC takes its responsibilities as a charity very seriously. The church has always contributed a great deal to the community, and will strive to continue to do so. The review of activities undertaken in 2023 set out in this report describes some of the work that Redland Parish Church has undertaken over the last year. The Church has had regard to the Charity Commission's guidance on public benefit.

Page 3

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

Achievements and Performance

Overall 2023 has been a positive year. Unlike previous years there has not been substantive changes. This has enabled us to grow and adapt to the changes that have been made. As a result it has been a year where our culture and the feel of our church comunity has been able to evolve. With many people joining and leaving in prior years it has also been a time of adjusting to who we are as a community of people and getting to know one another. It has also been a continued time of trying to focus on our mission and raise the spiritual temperature. In reviewing our year, some notable events and highlights have included the following:

Page 4

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

Plans for Future Periods

Changing structures and policy is easy, building a culture is hard and takes time. This maxim continues to shape how we see the future challenges for our church. Our continued challenge is to see our mission reflected in our church culture at all levels and to see us be increasingly true to our stated values. Four areas in particular are worth noting here:

  1. Apprenticeship to Jesus is at the core of what we are about as a church. There is much in our lives that distracts and leads us away from this mission. We want to try to find ways to raise the spiritual temperature and grow in our openness to the Holy Spirit in our lives and gatherings ensuring that Redland is an environment where growth is encouraged and nurtured.

  2. We have seen some growth with those under 40 but this continues to be a minority group within the church. We aim to be a genuine all age community and so must continue to invest and prioritise engaging under 40s in particular. In particular we believe the appointment, post the balance sheet date of 31st December 2023, of two new part time staff to devlop our work with under 18s will help develop a genuine all age community.

  3. It is very easy as a church community to look inward to our spiritual needs and preferences. As a church we want to be focused outward in being a ‘visible presence of renewal where we are placed’. As such we want to up the ante in looking at finding new ways to connect with our community and encouraging one another to live lives of mission in the day to day. In particular we want to maintain a pattern of running Alpha twice a year and in partnership with the newly appointed “Emerging Generations' team build our pattern of engaging with local children and families.

  4. Our third strategy strand ‘Pattern’ needs to be further embedded into our cultural understanding. There was a positive initial launch but this needs to remain on our agenda rather than be seen as a box ticked.

FINANCIAL REVIEW

The PCC has a duty to ensure accounts are prepared and independently examined, to approve the accounts and present them to the Annual Parochial Church Meeting (APCM). In accounting for our income and expenditure we comply with the requirements of best practice in charity accounting, and also with the requirements of the Charity Commission.

Overall income in 2023 is slightly lower than in 2022. Unrestricted income from regular giving and church collections (which combined represent our main source of income) was almost the same as in 2022. Comparing overall income in 2023 with 2022 is complicated by several factors, including the fact that we closed the Lantern pre-school during 2022. Although this reduced our income in 2023 compared with 2022 it reduced our expenditure more, so the net effect was financially positive. We had an outstanding annual appeal, raising £36,307, half of which we allocated to the Renew project and half towards rebuilding our financial reserves. We also received a legacy from Jean Douglas, half of which we allocated towards paying off loans on the Renew project and half of which we designated for future capital improvements. There was an encouraging 12% increase in income from hall rentals (reflecting more rentals alongside a 3% increase in charges) but this was balanced by reductions in income from other activities.

Unrestricted expenditure was very significantly lower (£125,250) in 2023 than in 2022. The main reasons for this were a negotiated reduction in our parish share contribution to the Church of England (saving £16,928), closing Lantern (£42,787), a rebate on utility bills (£32,365) and salary savings because our Associate Minister Steven Faux retired and our Youth minister Brittany Gunn left part-way through the year (£21,675).

The net consequence is that we had a positive balance of income over expenditure of £58,912 in unrestricted funds, compared with a deficit of £19,017 in the previous year. As the figures above show, some of this positive balance is for good reasons (the Annual Appeal, the rebate in utility bills) but some is because we had not appointed a new leader for our Emerging Generations by the end of 2023.

Page 5

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

Last year, the financial report highlighted that our reserves were only just above the minimum level we have decided is necessary to meet unforeseen expenditure, following several years of deficit. Because of the positive out-turn, our reserves have increased from £99,363 to £169,028, which provides far more financial resilience. Our target is to hold reserves of £123,865, with a minimum of £76,442 (based on budgeted annual expenditure on salaries and utilities to avoid the distorting effects experienced in 2023). NB Our reserves include £35,151 in the Renew fund, along with designated for a capital project (£10,313) and Chat a Box (£2,358).

Page 6

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

At the end of 2022 we had outstanding loans of £116,500 for the Renew project to upgrade the church halls. These loans include an interest-bearing loan from Bristol Diocese (£62,500) and interest-free loans from several church members (£54,000). A number of church members make regular payments into the Renew fund to repay these loans. In March 2023 the PCC agreed a plan to repay all remaining loans by the end of 2026, but this plan identified that with the current level of regular giving there would be a shortfall of £19,326 in achieving this ambition. Since then, there have been several significant changes. We allocated half of the income from the Annual Appeal and half of the legacy to the Renew fund, raising a combined total of £28,466, more than filling the shortfall. Since the period covered by these accounts, some people who have regularly given to the Renew fund have stopped their donations, but others have made or promised new donations or coverted a loan into a gift. The net consequence is that we should be able to make a final payment to the Diocese in 2024, and finish paying off all Renew loans by mid-2025 rather the end of 2026. This is very good news. However, this crucially relies on most of those who give to Renew continuing their donations at the current level until all the loans are paid back.

In 2023 the PCC agreed a broadly balanced budget, following several years of deficits. This envisaged a small increase in unrestricted regular giving and reductions in overall expenditure. In practice, most elements of income and expenditure were very close to budget, but we ended up with a large surplus due to several one-off factors: savings on utilities thanks to the rebate, savings through not appointing a children’s and families worker or having a youth worker for several months, and receiving £10,313 into general income from the legacy. If we exclude these items we would have had a budget deficit of £17,631. This deficit is mainly due to the fact that voluntary income (regular giving, collections, tap and online giving) at £270, 320 is approximately the same as in 2022 (£270,443), whereas we had budgeted for a 3% increase. Although the lack of an increase in regular giving is perhaps disappointing, it halts a trend of declining giving over recent years, which is more encouraging. It is also noteworthy that the Annual Appeal raised more money than included in the budget and we allocated half of the Appeal to Renew – if we had instead used it for general income, and none of the one-off factors had applied, then our income and expenditure would have been approximately equal.

Looking forward to 2024, we have again set a balanced budget, which includes funding for a leader for our Emerging Generations (children and young people). In our income projections, we have allowed for the fact that we know of several regular donors who have indicated that they need to stop or reduce their donations, but have then assumed a 3% increase in giving from other church members. In theory this is realistic because it is lower than the increase in salaries or pensions that most people will have experienced in the last year, and the number of regular donors has only reduced slightly. However, we recognise that the demography of the church membership is changing, and different generations have different pressures on their finances. We will need to continue to monitor income and expenditure carefully.

The financial report in the 2022 accounts highlighted three financial challenges: to reverse the decline in giving in order to provide funds for a kids and families pastor, to generate additional funds to build our reserves back to the target level, and to fill the shortfall in paying off the remaining loans on the Renew project. Although giving has stabilised rather than increased, we have made very good progress on the other two challenges, and can feel confident that the finances of the church are healthy and robust.

As always, I would like to thank all those who have helped to manage the church finances over the last year. In particular, to pay tribute to Caroline Dunn, a previous treasurer who was always a source of wise advice and help. She continued to manage the finances of several small groups within the church, and regularly went to the bank to pay in cash from Sunday services. Her death is a great loss to all of us. I would also like to thank Rhiannon Greet for the brilliant way she manages all aspects of church operations, which is key to managing expenditure. Finally, enormous thanks to our book-keeper, Wendy Horsfield, who does the vast majority of the work in managing our finances, including preparing these accounts.

Page 7

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

GOVERNANCE

Governing Constitution or Document

The PCC is governed by two pieces of Church of England legislation, called Measures. These are the Parochial Church Council (Powers) Measure 1956) and the Church Representation Rules (contained in Schedule 3 to the Synodical Government Measure 1969 as amended).

Recruitment of Trustees

The method of appointment of PCC members is set out in the Church Representation Rules. The membership of the PCC consists of the incumbent (our vicar), the two churchwardens, and members elected by those members of the congregation who are on the electoral roll of the church or co-opted by the PCC. In addition, ordained clergy who are licensed to the parish are ex officio members of the PCC, as are the elected representatives to Deanery Synod and representatives from the Parish who are Diocesan Synod members. All those who attend our services and are members of the congregation are encouraged to register on the Electoral Roll. All such persons may stand for election to the PCC. Nominations are called for, and persons voted for, at an Annual Parochial Church Meeting (APCM).

Use of volunteers

The PCC employs a number of staff (mostly part-time) but also makes significant use of volunteers to carry out its work. Volunteers are involved in all aspects of the work, including ministry, youth work, education, facilities management and finance and administration.

Policies for induction and training

All staff receive an introduction to the charity, allowing them to develop a good understanding of the requirements of the role and to settle in with confidence. All staff are given appropriate opportunities for developing their skills and knowledge to carry out their role effectively and this is reviewed in Annual Appraisals.

Organisational Structure

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. The full PCC met seven times during the year. Given its wide responsibilities, the PCC has a number of committees or groups which meet between full meetings of the PCC, each dealing with a particular aspect of parish life, as detailed below. We have no need for a remuneration committee as the paid clergy are paid on the pay scales as set by the Diocese while the Standing Committee of the PCC, has oversight of the salaries of employees of the church. Of these, only the Associate Minister, remunerated on clergy scales, has a senior management function.

Standing Committee: This is the only committee required by law. It has power to transact the business of the PCC between its meetings.

Ministry Oversight Groups: These have now ceased operation as they were no longer needed. The work perfomed by these groups in the past is eiether no longer required (for example we no longer operate a Preschool) or was deemed to be more effectivly absorbed within the PCC itself.

Core Team- The decision was made in partnership with both the PCC and the Core team to stop Core team. Given the more settled nature of the Church as an organistation after the changes to Sunday servcies and setting our our mission, vision and values it was longer viewed as necessary or indeed the best way to organise ourselves going forward.

Management Team- This is a small subset of our wider staff team who meet weekly to decide on issues pertaining to the day to day running of the Church and its ministry.

Page 8

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

Risk Management

The PCC regularly considers and discusses the key risks facing the Church, the controls in place to mitigate them and any action required. Financial Risk is regularly assessed by the Standing Committee.

The PCC takes the issue of safeguarding seriously. All Trustees are required to complete safeguarding training. We aim to fully comply with all legal requirements and diocesan best practice having paid due regard to the House of Bishops Safeguarding Policy and Guidance. During the year, DBS enhanced certificates have continued to be renewed and applied for as required. Safeguarding training has continued online and we continue to seek to improve response from volunteers.

During 2022 we developed a new policy for payments to overseas partners, in line with guidance from the Charity Commission. This policy was approved by the Standing Committee.

The financial risks in connection with our new hall development have been mitigated as the project has been completed and most of the costs raised. The repayment of some of the loans during the year means that the total outstanding has reduced to £82,500 at the end of the financial year (2022: £116,500). Our principal risk is unchanged, namely a reduction in regular giving, especially as our income relies upon the continued generosity of committed members of the church.

The PCC is not dependent upon grants to take forward its work. £3,059 was received during the year from the Redland Chapel Trust to pay for insurance on the chapel, and £2500 from Bristol City Council for the Ukraine hub. The PCC is very grateful for this support.

LEGAL AND ADMINISTRATIVE INFORMATION

Charity details

The Parochial Church Council of the Ecclesiastical Parish of Redland, Bristol (hereinafter referred to as “the PCC”)

Registration number: 1131061

Date of registration: 10 August 2009

Address: Redland Church Halls, Redland Green Road, Redland, Bristol BS6 7HE

Details of Trustees

PCC Members are either ex officio, elected by the Annual Parochial Church meeting (APCM) in accordance with the Church Representation Rules or co-opted by the PCC in accordance with the Church Representation Rules. Elected members normally serve for 3 years but may be re-elected.

The following served as trustees and as members of the PCC during the year (some names appear twice due to dual roles:

Vicar and Chair: Rev William Fairbairn (ex-officio) Associate Minister: Revd Steven Faux (ex-officio) Curate: Wayne Cullum (ex-officio)

Churchwardens: Lizzie White (until May 2023), Alan Barr (ex-officio), Clare Haynes (from May 2023).

Treasurer: Chris Salisbury

Diocesan Synod: David Clarke (ex-officio) & Roy Hussey

Representatives of Deanery Synod: Lizzie White (until May 2023), Gill Dann (from May 2023), Clare Nichols. Co-opted members: Lizzy Brothwood (until May 2023), & Edward Powlesland (until May 2023)

Elected members: Rachel Milne, David Gould (until May 2023), Roy Hussey, Vicki Pitts, Chris Swonnell (until May 2023), Natasha Walton, Jane Vause, Chris Salisbury, Danny Ma (from May 2023), Clare Rabbitt (from May 2023), Matthew Brothwood (from May 2023)

Page 9

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

The established management structure of the church is built around the ultimate authority (vested by law) in the Trustee body, namely the Parochial Church Council, which meets at least four times a year. Leadership is vested in the incumbent who is assisted in spiritual matters by the associate minister, the curate (if any) and the licensed ministers. The PCC Standing Committee oversees day to day administration. The only person who has been member of the PCC Standing Committee and is a paid employee was the part time associate minister. (The incumbent (vicar) has a stipend paid by the Diocese of Bristol).

Details of advisors

Banks

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ

Independent Examiner

Joshua Kingston, BSc (Hons) ACA, Burton Sweet Limited, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR

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.

Approved by the PCC and signed on its behalf by:

The Reverend William Fairbairn, Vicar Chair of the PCC

Date: ......................................202416 May

Page 10

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDLAND PARISH CHURCH PCC For the year ended 31st December 2023

I report to the trustees on my examination of the accounts of Redland Parish Church (the Charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

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

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joshua Kingston BSc (Hons), ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: …………………………202418 April

Page 11

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023

Note
INCOME FROM:
Donations
2(a)
Charitable Activities
2(b)
Investments
2(c)
TOTAL INCOME
EXPENDITURE ON:
Charitable Activities
-Mission and charitable giving
3(a)
- Ministry
3(b)
- Estates
3(c)
- Administration
3(d)
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
TRANSFERS
Transfer of Funds New Halls
12
NET MOVEMENT IN FUNDS
BALANCES BROUGHT FORWARD
AT 1 JANUARY
12
BALANCES CARRIED FORWARD AT
31 DECEMBER
12(a)/13(a)		 Unrestricted
Funds
Restricted
Funds
TOTAL
FUNDS
Unrestricted
Funds
Restricted
Funds
TOTAL
FUNDS
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
301,287
92,315
393,602
309,575
99,925
409,500
73,119
-
73,119
109,681
-
109,681
3,745
-
3,745
1,476
-
1,476
378,151
92,315
470,466
420,732
99,925
520,657
160,444
23,524
183,968
188,210
9,603
197,813
41,067
443
41,510
106,221
450
106,671
43,527
2,776
46,303
73,343
5,093
78,436
74,201
-
74,201
71,975
-
71,975
319,239
26,743
345,982
439,749
15,146
454,895
58,912
65,572
124,484
(19,017)
84,779
65,762
66,338
(66,338 )
-
73,840
(73,840 )
-
125,250
(766)
124,484
54,823
10,939
65,762
985,278
20,559
1,005,837
930,455
9,620
940,075
1,110,528
19,793
1,130,321
985,278
20,559
1,005,837

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 14 to 22 form an integral part of these financial statements.

Page 12

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

BALANCE SHEET
At 31 December 2023
FIXED ASSETS
Note
Tangible Fixed Assets
5(a)
CURRENT ASSETS
Debtors and Prepayments
6
Short-term Deposits
7
Cash at bank and in hand
8
CREDITORS: DUE WITHIN ONE YEAR
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS : DUE IN MORE THAN ONE YEAR
10
NET ASSETS
FUNDS
Unrestricted
11
Restricted
11		 2023
£
985,000
985,000
12,877
151,237
93,916
258,030
(69,209)
188,821
1,173,821
(43,500)
1,130,321
1,110,528
19,793
1,130,321		 2022
£
985,915
985,915
13,292
112,617
54,641
180,550
(60,628)
119,922
1,105,837
(100,000)
1,005,837
985,278
20,559
1,005,837

Approved by the Parochial Church Council on …................ 2024 and signed on its behalf by:18 April

The Reverend William Fairbairn, Vicar

The notes on pages 14 to 22 form an integral part of these financial statements.

Page 13

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

Cashflow Statement At 31 December 2023

Net cash inflow from operating activities
Investment Income
Capital expenditure and financial investment:
- Payments for tangible fixed assets
Financing
- Loans repaid
Net cash outflow for the year
NOTES TO THE CASHFLOW STATEMENT
A. Reconciliation of net movement in funds to net cash
inflow from operating activities
SOFA: Net movement in funds
Investment Income
Depreciation
(Decrease)/increase in creditors
Decrease/(increase) in debtors
B. Analysis of changes in cash during the year
Short term deposits
Cash at bank and in Hand
Short term deposits
Cash at bank and in Hand
C. Analysis of changes in net debt
Cash and cash equivalents
Debt due within one year
Debt due after one year		 Notes
A

2023
£
151,237
93,916
245,153
2022
£
112,617
54,641
167,258
At 1
January
2023
£
54,641
(60,628)
(100,000)
(160,628)
(105,987)		 2023
£
130,650
130,650
3,745
-
134,395
(56,500)
77,895
124,484
(3,745)
915
8,581
415
130,650
2022
£
112,617
54,641
167,258
2021
£
51,176
112,002
163,178
At 31
December
2023
£
93,916
(69,209)
(43,500)
(112,709)
(18,793)		 2022
£
56,579
56,579
1,476
-
58,055
(53,975)
4,080
65,762
(1,476)
914
(6,277)
(2,344)
56,579
Change
£
38,620
39,275
77,895
Change
£
61,441
(57,361)
4,080
Change
£
39,275
(8,581)
56,500
47,919
87,194

D. 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 its own Objects, except on special authority. In practice, this restriction has not had any effect on cashflows for the year.

Page 14

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

1 ACCOUNTING POLICIES

BASIS OF PREPARATION

The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note)and 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.

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.

GOING CONCERN

The financial statements are prepared on the going concern basis. No material uncertainties exist that may cast significant doubt on the ability of the Charity to continue as a going concern, despite the significant uncertainty being caused by the rising cost of living. We have set a conservative budget for 2024 based on recent trends in income and expenditure, and the charity has sufficient reserves to be able to meet potential challenges.

FUNDS

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

Restricted funds are those funds that must be spent on restricted purposes and details of the funds held and restrictions are provided in note 13.

Designated funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members.

INCOME

Donations - Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Tax recoverable on Gift Aid donations is recognised when the donation is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Funds raised by events, such as Chat-a-Box and Church weekends away, are accounted for gross. Sales of sundry items such as books are accounted for gross.

EXPENDITURE

Expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributable to one of the functional categories of resources used in the SOFA. The Church is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.

Grants and other charitable giving are accounted for when paid over, or when awarded and communicated to the recipient, if that award creates a binding obligation on the PCC. The Parish Share is accounted for when payable. Any Share unpaid at 31 December is provided for in these accounts as a constructive obligation (though not a legal liability) and is shown as a creditor in the Balance sheet.

Governance costs include the cost of the Independent Examination of the financial statements, the cost of Trustees meetings and of any legal advice to trustees on governance or constitutional matters. They have been included within support costs.

Page 15

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 FIXED ASSETS

Freehold Land and Buildings

The church hall complex is shown at the open market value for the existing use. This was professionally valued at £800,000 in the 2017 year. Property is held in the accounts at valuation and depreciated at nil depreciation. Property is revalued every seven years, however trustees review the property annually for impairment and to assess if the value held is considered materially different to market value.

Redland Chapel was not valued or capitalised as the SORP permitted exclusion for inalienable and historic assets where reliable cost information and conventional valuation approaches lack sufficient reliability. Consecrated and benefice property is also excluded from the accounts by s10(2) of the Charities Act 2011. Accordingly, all expenditure incurred during the year on inalienable and historic buildings, whether maintenance or improvement, is written off as expenditure in the Statement of Financial Activities and separately disclosed.

Movable church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. They are listed in the Church's inventory, which can be inspected at any reasonable time. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Items acquired since 1 January 2000 have been capitalised and depreciated as necessary.

Furniture, Fittings and Equipment

Tangible fixed assets costing more than £1,000 (for a single item or group of interdependent items) are being capitalised at cost including acquisition costs.

Depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off cost on a straight-line basis over expected useful economic lives as follows, subject to annual review:

Freehold land Nil (considered to have an indefinitely long useful life) Freehold buildings Nil - see above Furniture, fittings & equipment 4 years

Investments

Investments are included at market value at 31st December. The SOFA includes the net gains and losses arising on revaluations and disposals during the year.

CURRENT ASSETS

Amounts owing to the PCC at 31st December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable. Short-term deposits include cash held on deposit with the Central Board of Finance of the Church of England.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

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.

LIABILITIES

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Creditors and provisions are recognised where the charity has a present obligation resulting 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

ACCOUNTING ESTIMATES AND ASSUMPTIONS

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both the current and future periods.

Page 16

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

2 INCOME

2(a) Income from Donations

Giving
Church Collections
Annual Appeal
Legacies
Grant Income
Restricted Giving:
Hope Gift Day
Youth
Redland Chapel Trust		 Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricted
Funds
Restricted Funds
TOTAL FUNDS
2023
2022
£
£
£
£
£
£
266,305
42,599
308,904
267,128
80,267
347,395
4,015
-
4,015
3,315
-
3,315
18,154
18,153
36,307
39,132
-
39,132
10,313
10,313
20,626
- -
-
2,500
-
2,500
- -
-
- 17,748
17,748
-
16,474
16,474
-
443
443
-
450
450
-
3,059
3,059
-
2,734
2,734
301,287
92,315
393,602
309,575
99,925
409,500

The church received, under the gift aid scheme, unrestricted donations of £199,512 (2022 - £222,652) and reclaimed £49,878 (2022 - £55,663) in tax and restricted donations of £57,528 (2022-£40,116) and reclaimed £14,382 (2022 - £10,029) in tax. All included above.

2(b) Income from Charitable Activities

Church Hall Rentals
Church Fees
Lantern Preschool
Church Events
Chat a Box
Toddlers
Solar Income
Miscellaneous		 Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricted
Funds
Restricted Funds
TOTAL FUNDS
2023
2022
£
£
£
£
£
£
59,488
-
59,488
53,044
-
53,044
1,121
-
1,121
725
-
725
- -
-
38,686
-
38,686
2,408
-
2,408
4,139
-
4,139
3,848
-
3,848
3,192
-
3,192
1,409
-
1,409
1,170
-
1,170
555
-
555
881
-
881
4,290
-
4,290
7,844
-
7,844
73,119
-
73,119
109,681
-
109,681

2(c) Income from Investments

Current Accounts - CAF
Savings Accounts - CBF		 Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricted
Funds
Restricted Funds
TOTAL FUNDS
2023
2022
£
£
£
£
£
£
136
-
13634 -
34
3,609 -
3,609
1,442 -
1,442
3,745 -
3,745
1,476 -
1,476

Page 17

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

3 EXPENDITURE ON CHARITABLE ACTIVITIES

3(a) Mission and charitable giving

Our Diocese
Parish Share
Church Overseas
Glenys Goulstone/OMF
Shayi/ICBM
Chilongani
Mwihambi
Rossingtons/AIM
Home Mission
Church Pastoral Aid Society
In Hope
The Bible Society
Bristol Churches City Fund
(inc Hope Gift Day)
Easton Christian Family
Centre (Hope Gift Day)
Bristol Hospitality Network
(Mission Gift Day)
Bridges for Communities
(Mission Gift Day)
Ukraine Support
Sixty One
Home for Good
Encounter Christianity
Climate Stewards
Eco Church
Other
Total Mission and Charitable Giving
3(b) Ministry
Staff team
Associate Vicar
Youth Ministry
Expenses, Books, Travel &
Technology
Other sundry expenses
Lantern
Salaries
Other Costs		 Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricted
Funds
Restricted Funds
TOTAL FUNDS
2023
2022
£
£
£
£
£
£
126,572
-
126,572
143,500
-
143,500
- -
-
7,200
-
7,200
-
80
80
-
80
80
7,560 -
7,560
7,200
-
7,200
-
500
500
2,500
938
3,438
7,560 -
7,560
7,200
-
7,200
15,120
580
15,700
24,100
1,018
25,118
Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricted
Funds
Restricted Funds
TOTAL FUNDS
2023
2022
£
£
£
£
£
£
1,000
-
1,000
1,000
-
1,000
3,400
-
3,400
3,400
-
3,400
2,000
-
2,000
2,000
-
2,000
-
9,710
9,710
- -
-
-
8,874
8,874
- -
-

- -
-
-
3,237
3,237

- -
-
-
3,237
3,237
52
1,196
1,248
-
550
550
- 836
836
-
780
780
- -
-
-
781
781
12,000 -
12,000
14,000 -
14,000
250
-
250
- -
-
50
-
50
50 -
50
-
2,328
2,328
160
-
160
18,752
22,944
41,696
20,610
8,585
29,195
160,444
23,524
183,968
188,210
9,603
197,813
Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricted
Funds
Restricted Funds
TOTAL FUNDS
2023
2022
£
£
£
£
£
£
10,919
-
10,919
20,811
-
20,811
15,475
443
15,918
27,251
450
27,701
1,059
-
1,059
945
-
945
-
-
-
761
-
761
27,453
443
27,896
49,768
450
50,218
-
--
40,962
-
40,962
-
--
1,825
-
1,825
-
- -
42,787
-
42,787

Page 18

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

3(b) Ministry (continued)

3(b) Ministry (continued)
Unrestricted
Funds		 Restricted
Funds		 TOTAL FUNDS Unrestricted
Funds		 Restricted Funds TOTAL FUNDS
2023 2022
£ £ £ £ £ £
Children and young people
Youth Work 1,571 -
1,571		 531 -
531
Children and Families 1,620 -
1,620		 720 -
720
Youth Events 600 -
600		 2,058 -
2,058
3,791 - 3,791 3,309 - 3,309
Groups and activities
Toddlers
Chat a Box
Church Events Expenditure		 663
3,707
4,086		 -
-
-
663

3,707

4,086		 446
4,606
3,762		 -
-
-
446
4,606

3,762
8,456 - 8,456 8,814 - 8,814
Church services
Worship Services
Music & Licences		 -
1,367		 -
-
-
1,367		 344
1,199		 -
-
344

1,199
1,367 - 1,367 1,543 - 1,543
Total Ministry 41,067 443 41,510 106,221
450		 106,671
3(c) Estates
Halls:
Utilities
Insurance
Repairs & Maintenance
Cleaning
Grounds & General Maintenan
Interest on redevelopment loan
Sundry Expenses		 Unrestricted
Funds
£
(2,658)
7,627
11,302
12,595
2,352
2,643
2,258		 Restricted
Funds
£
-
-
-
-
-
-
-		 TOTAL FUNDS
2023
£

(2,658)

7,627

11,302

12,595

2,352

2,643

2,258		 Unrestricted
Funds
£
27,570
7,111
12,944
11,698
2,095
2,217
2,170		 Restricted Funds
£
2,137
-
-
-
-
-
363		 TOTAL FUNDS
2022
£
29,707
7,111
12,944
11,698
2,095
2,217
2,533
36,119 - 36,119 65,805 2,500 68,305
Church:
Utilities
Insurance

Repairs & Maintenance		 Unrestricted
Funds
£
2,094
-
5,314		 Restricted
Funds
£
-
2,776
-		 TOTAL FUNDS
2023
£

2,094
2,776
5,314		 Unrestricted
Funds
£
1,091
-
6,447		 Restricted Funds
£
-
2,593
-		 TOTAL FUNDS
2022
£

1,091
2,593
6,447
7,408 2,776 10,184 7,538 2,593 10,131
Total Estates 43,527 2,776 46,303 73,343 5,093 78,436

Page 19

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

3(d) Church management and administration

Administration :
Depreciation
Salaries
Postage,Stationery,
Advertising, Website,
Bank Service Charges
Computer Equipment and
Maintenance
Staff Recruitment
Hospitality and Thanks
Governance - Independent
Examination
Legal Fees
Rebranding
Total administration		 Unrestricted
Funds
Restricted
Funds
TOTAL FUNDS
Unrestricted
Funds
Restricted Funds
TOTAL FUNDS
2023
2022
£
£
£
£
£
£
915
-
915
914
-
914
59,001
-
59,001
53,189
-
53,189
2,716
-
2,716
2,696
-
2,696
180
-
180
270
-
270
7,147
-
7,147
11,429
-
11,429
1,337
-
1,337
850
-
850
430
-
430
419
-
419
2,055
-
2,055
2,061
-
2,061
420
-
420
840
-
840
-
-
-
(693)
-
(693)
74,201
-
74,201
71,975
-
71,975

4 STAFF COSTS

Wages and salaries
Social security costs
Pensions
Ex-gratia payments		 2023
2022
£
£
77,728
133,596
5,668
8,790
1,516
2,371
2,971
-
87,883
144,757

During the year the PCC employed an associate Vicar, two church administrators, one youth worker, a bookkeeper and two caretakers, none of whom earned £60,000 or more. The Vicar, churchwardens and PCC only receive reimbursement for expenses incurred and properly authorised for church business.

Key management personnel, the Associate Vicar and Head of Administration, received total benefits of £47,605 (2022: £53,986) (including salary, pension contributions and an accomodation allowance). No other member of the senior management team received employee benefits.

The Associate Vicar, who is also a member of the PCC, received total benefits of £10,919 (2022: 20,811). This is permitted under the PCC (Powers) Measure, as amended.

During the year ex-gratia payments were made to the youth worker on termination of her contract £1,500 (2022: £0), and to Rhiannon Hamblin on the occasion of her wedding £1,471 (2022:£0).

5 FIXED ASSETS FOR USE BY THE PCC

5(a) Tangible Fixed Assets

Cost & Valuations
1st January 2023
Disposals
31st December 2023
Depreciation
1st January 2023
Disposals
Charge for year
31st December 2023
Net Book Values
31st December 2023
31st December 2022		 Freehold Land
Freehold
Buildings
Furniture,
Fittings &
Equipment
Total
£
£
£
£
185,000
800,000
163,495
1,148,495
-
-
-
-
185,000
800,000
163,495
1,148,495
- -
162,580
162,580
- - -
-
- -
915
915
- - 163,495
163,495
185,000
800,000
-
985,000
185,000
800,000
915
985,915

Page 20

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

Note 5a-1: Ownership of the Redland Church Halls is vested in the Diocesan Board of Finance in trust for the PCC and Title Deeds are held by the Diocesan Board of Finance. Redland Church Halls have cover for insurance purposes at £2,824,225 and Furniture, Fittings and Equipment £323,046. However, an updated open market current use valuation in 2017 places a value on the halls together at £800,000 and this is the value that appears in the accounts. Our policy is to revalue Redland Church Halls every 7 years, this will take place in 2024.

Page 21

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

5(b) Inalienable and Historic Assets

(i) Consecrated properties are excluded from all accountability under Charities Act 2011. The PCC has maintenance responsibility for land and buildings of the church.

RS AND PREPAYMENTS
Debtor - Income tax recoverable
Other Debtors
Prepayments
TERM DEPOSITS
Central Board of Finance a/c 1
T BANK AND IN HAND
CAF No 1
CAF Income
CAF Building Fund
Cash in Hand
ORS : DUE WITHIN ONE YEAR
Trade Creditors
Accruals
Payment in Advance
Inland Revenue
Diocesan Loan
Loans for Building Project
TORS : DUE IN MORE THAN ONE YEAR
Diocesan Loan
Loans for Building Project		 2023
2022
£
£
8,745
1,631
2,905
8,155
1,227
3,506
12,877
13,292
2023
2022
£
£
151,237
112,617
151,237
112,617
2023
2022
£
£
57,765
46,670
1,000
1,017
35,151
4,022
-
2,932
93,916
54,641
2023
2022
£
£
11,544
22,655
4,707
5,348
13,903
16,075
55
50
12,500
12,500
26,500
4,000
69,209
60,628
2023
2022
£
£
25,000
50,000
18,500
50,000
43,500
100,000

6 DEBTORS AND PREPAYMENTS

7 SHORT-TERM DEPOSITS

8 CASH AT BANK AND IN HAND

9 CREDITORS : DUE WITHIN ONE YEAR

10 CREDITORS : DUE IN MORE THAN ONE YEAR

Note 10-1 : Terms of loans

The Diocesan loan is repayable by repayments over a period of 10 years from the advancing of the loan in April 2015, interest is charged at 0.56% over the Diocesan Board of Finance rate, which varies from time to time.

The loans from members of the congregation for the building project are interest free and repayable at various dates between 2024 and 2026.

Page 22

PAROCHIAL CHURCH COUNCIL OF REDLAND PARISH CHURCH

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023

11 RESTRICTED AND UNRESTRICTED FUND DETAILS

11(a)Analysis of Net Assets by Fund

General fund
Designated for Chat-A-Box
Designated for Capital
Project
Restricted funds		 Fixed Assets
Current
Assets
Current
Liabilities
Long term
Liabilities
TOTAL
FUNDS
£
£
£
£
£
985,000
225,566
(69,209)
(43,500)
1,097,857
-
2,358
- -
2,358
-
10,313
- -
10,313
-
19,793
- -
19,793
985,000
258,030
(69,209)
(43,500)
1,130,321

11(b)Analysis of Net Assets by Fund - Prior Year

General fund
Designated for Chat-A-Box
Designated for Worship
Space Improvements
Restricted funds		 Fixed Assets
Current
Assets
Current
Liabilities
Long term
Liabilities
TOTAL
FUNDS
£
£
£
£
£
985,915
155,632
(60,628)
(100,000)
980,919
-
2,217
- -
2,217
-
2,142
- -
2,142
-
20,559
- -
20,559
985,915
180,550
(60,628)
(100,000)
1,005,837

12 MOVEMENTS IN UNRESTRICTED FUNDS

12(a) Movements in unrestricted funds current year

General fund
Designated for Chat-A-Box
Designated for Capital Project		 At 1st January
Income
Expenditure
Transfers
At 31st
December
£
£
£
£
£
983,061
363,990
(315,532)
66,338
1,097,857
2,217
3,848
(3,707 )
-
2,358

-
10,313
-
-
10,313
985,278
378,151
(319,239)
66,338
1,110,528

12(b) Movements in unrestricted funds prior year

General fund
Designated for Chat-A-Box		 At 1st January
Income
Expenditure
Transfers
At 31st
December
£
£
£
£
£
926,824
417,540
(435,143)
73,840
983,061
3,631
3,192
(4,606 )
-
2,217
930,455
420,732
(439,749)
73,840
985,278

Page 23