## |Mrs|Anita|Cleverly|Senior Staff|Staff Pastor [retired Sept 2020]| |---|---|---|---|---| |Mrs|Jenny|Corps|Senior Staff|Director ofOperations| |Rev|Simon|Ponsonby|Senior Staff|Pastor ofTheology| |Miss|Chloe|Pattison|Employee|PAtothe Rector and Secretary tothe PCC| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Note||||||| |---|---|---|---|---|---|---|---|---|---| |||||Unrestricted||Funds||Total Funds|Total Funds| ||||||||Restricted||| |||||General|Designated||Funds|2020|2019| |Income|||||||||| |Donations
and Legacies|||2a|1,459,988|||166,259|1,626,247|1,506,940| |Income from investments|||2b|725||||725|1,220| |Income from charitable||activities|2c|172,741||||172,741|242,420| |Other income|||2d|14,917|||1,255|16,172|99,573| |Total Income||||1,648,371|||167,514|1,815,885|1,850,153| |Expenditure|||||||||| |Charitable
activities - Grants|||sa|102,404|||48,689|151,093|121,320| |Charitable
activities - Ministry|||3b&c|1,454,459|||66,048|1,520,507|1,592,134| |Total expenditure||||1,556,863|||114,737|1,671,600|1,713,454| |Net income/(expenditure)||||91,508|||52,777|144,285|136,699| |Gross Transfers
between|funds||10|(59,045)||59,045|||| |Net movement
in funds||||32,463||59,045|52,777|144,285|136,699| |Total funds brought
forward||from 2019||228,586||138,957|974,159|1,341,702|1,205,003| |Total funds carried forward|||10|261,049||198,002|1,026,936|1,485,987|1,341,702| ## |ment ofCash Flows for the year ended 31 December|2020||||| |---|---|---|---|---|---| ||||~te|Total fundse|2019funds| |Gash flows from operating
activities:|||||| |Net cash provided
by (used in) operating
activities|||14a|164,649|71,871| |Cash flows from investing
activities:|||||| |Dividends,
interest and rents from investments||||725|1,220| |Purchase of property,
plant and equipment||||(14,980)|(8,413)| |Net cash provided
by (used in) investing
activities||||(14,255)|(7,193)| |Change
in cash and cash equivalents
in the reporting|period|||150,394|64,678| |Cash and cash equivalents
at the beginning
ofthe reporting||period||440,514|375,836| |Cash and cash equivalents
at the end ofthe reporting|period||14b|590,908|440,514| |Notes to the financial statements
for the year ended|Notes to the financial statements
for the year ended|31 December|31 December||2020|2020|2020|2020||(1)|(1)|(1)|(1)||||||||||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |1|Accounting
Policies||||||||||||||||||||||||||||||||||||||||||| ||The financial
statements
have been prepared
in accordance
with the Church
Accounting|||||||Regulations||||||||2006|||together|||||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) (Charities SORP (FRS 102) issued
in October 2019),the Financial||Reporting|||||Standard||||||applicable|||||||in the|||UK||and Republic||||||of Ireland||||(FRS|||102) and||||the| ||Charities Act 2011.||||||||||||||||||||||||||||||||||||||||||| ||The financial statements
have been prepared
under the historical|cost convention|except||||for the||||valuation||||||of||the||Catacombs.||||||||||||||||||||||| ||The Charity
constitutes
a public benefit
entity as defined
by FRS 102. The Trustees consider|||||||||||that||there||||are|||no material|||||||uncertainties||||about||the||Charity's|||||ability||to| ||continue as a going concern.||||||||||||||||||||||||||||||||||||||||||| ||Funds||||||||||||||||||||||||||||||||||||||||||| ||Unrestricted
funds
consist of a General
Fund
which
the PCC|may use, for the||furtherance|||||||of||the|||objects|||||of the|||PCC, at its|||||discretion.|||||Designated||||||funds|||are| ||unrestricted
funds which have been allocated
for future expenditure
for a specific purpose|||||||by||the|||PCC.||||Restricted|||||Funds|||||are subject|||||to|specific|||conditions|||||imposed||| ||by the donors or by terms ofan appeal, these conditions
being legally binding
upon||||the PCC.||||||||||||||||||||||||||||||||||||||| ||The accounts
include
all transactions,
assets and liabilities for which the PCC is||responsible||||||in||law.||||||||||||||||||||||||||||||||| ||Income and Endowments||||||||||||||||||||||||||||||||||||||||||| ||Donations
and ca
ital sources||||||||||||||||||||||||||||||||||||||||||| ||Collections are recognised
when received
by or on behalf ofthe PCC.
Planned||giving receivable||||||||||under|||Gift|||Aid is|||recognised
only|||||||when||||received.|||Income||||tax|||| ||recoverable
on Gift Aid donations
is recognised
when the income|is recognised.|||||||||||||||||||||||||||||||||||||||||| ||Grants and legacies to the PCC are accounted
for as soon as the|PCC is notified|of||its legal entitlement|||||||||||and|||the amount||||||due is quantifiable||||||||and|its||ultimate||||receipt|||by| ||the PCC is probable.||||||||||||||||||||||||||||||||||||||||||| ||Other tradin
activities||||||||||||||||||||||||||||||||||||||||||| ||Rental income from the letting ofPCC premises
is recognised
when the rental
is||due.||||||||||||||||||||||||||||||||||||||||| ||Income for events and fees for services
is accounted
for on an accruals basis.||||||||||||||||||||||||||||||||||||||||||| ||Income from investments||||||||||||||||||||||||||||||||||||||||||| ||Dividends
and interest are accounted
for when received.||||||||||||||||||||||||||||||||||||||||||| ||Expenditure||||||||||||||||||||||||||||||||||||||||||| ||Grants||||||||||||||||||||||||||||||||||||||||||| ||Grants and donations
are accounted
for when
paid over, or when|awarded,
ifthat award creates||||||||||a|binding|||||obligation|||||on||the|||PCC.|||||||||||||||| ||The annual
report details the policy for Grants made.||||||||||||||||||||||||||||||||||||||||||| ||Governance
costs||||||||||||||||||||||||||||||||||||||||||| ||These include those costs associated
with meeting
the constitutional
and statutory|||requirements||||||||ofthe||||PCC|||and include||||||the|||audit fee|||and||costs||linked|||to the|||strategic||| ||management
ofthe PCC.||||||||||||||||||||||||||||||||||||||||||| ||Pension costs||||||||||||||||||||||||||||||||||||||||||| ||As detailed
in note 13,St Aldates
(Oxford)
participates
in three pension schemes:|||the Church|||||||of||England|||||Funded||||Pensions||||||Scheme|||(CEFPS)|||for stipendiary|||||||clergy;||| ||the Pension
Builder Scheme of the Church
Workers
Pension
Fund and NEST Pension||||||Fund|||for|||lay||staff.|||In||accordance|||||||with FRS|||17 contributions|||||||to||the schemes||||| ||are accounted
for in the year they are payable.||||||||||||||||||||||||||||||||||||||||||| ||~Mi
i t||||||||||||||||||||||||||||||||||||||||||| ||The diocesan
parish share is accounted
for when payable.
Any parish share unpaid||||at 31 December||||||||||is|provided|||||for in|||these||||accounts|||as||an operational||||||(though|||not a|| ||legal) liability and is shown as a creditor
in the Balance Sheet.||||||||||||||||||||||||||||||||||||||||||| ||Irrecoverable
VAT||||||||||||||||||||||||||||||||||||||||||| ||In common
with similar organisations,
the charity
is not able to reclaim
most of the VAT that||||||||||it|incurs.|||||Irrecoverable|||||||VAT||||is treated||||as|expenditure|||||in|the||principal||| ||activity that incurred
the original VAT.||||||||||||||||||||||||||||||||||||||||||| ||Fixed assets||||||||||||||||||||||||||||||||||||||||||| ||Consecrated
ro ert
and movable
church fumishin
s||||||||||||||||||||||||||||||||||||||||||| ||Consecrated
and beneficed
property ofany kind is excluded
from|the accounts.|||||||||||||||||||||||||||||||||||||||||| ||Movable
church
furnishings
held
by the Rector and
Church
Wardens
on special||||trust||for||the||||PCC,|||and|||which|||require||||||a faculty|||for||disposal,|||are||accounted|||||as| ||inalienable
property
unless consecrated.
They are listed
in the church's
inventory||||which||can|||be|||inspected.|||||||For inalienable||||||||property||||acquired|||prior to||||2001 there is||||| ||insufficient
cost information
available
and therefore
such assets|are not valued|in||the|accounts.||||||||Items|||acquired|||||since||||1||January||2001 have|||||been||capitalised|||||and|| ||depreciated
in the accounts over three to six years on a straight-line
basis.||||||||||||||||||||||||||||||||||||||||||| ||All expenditure
incurred
in the year on consecrated
or beneficed|buildings,
individual
items||||||||under||||61,000|||||or||on the|||repair of movable|||||||||church||furnishings||||||acquired||| ||before
1 January 2001 is written
off.||||||||||||||||||||||||||||||||||||||||||| ||Other land and buildin
s||||||||||||||||||||||||||||||||||||||||||| ||The buildings
are maintained
in such a state of repair that their residual
value
is||||at least||||equal||||to||their|||net|||book||value|||||and any||depreciation||||||would|||therefore||||be| ||immaterial.
Annual
impairment
reviews are carried out to confirm|this. The Catacombs||||building||||||improvements|||||||||are|being||||depreciated||||||on|a straight-line|||||basis|||over||20| ||years.||||||||||||||||||||||||||||||||||||||||||| ||E ui
ment
furniture
and vehicles||||||||||||||||||||||||||||||||||||||||||| ||These assets are depreciated
on a straight-line
basis over 3to|6 years.
Individual|||items|||with||||a|purchase||||||price of||||61,000 or less|||||||are written|||||off when||||the||asset is||| ||acquired.||||||||||||||||||||||||||||||||||||||||||| ||Current assets||||||||||||||||||||||||||||||||||||||||||| ||Stock consists of purchased
goods for resale.
Stocks are valued|at the lower of|cost and||||net||realisable|||||||value.|||||Items||donated
for resale are not|||||||||||included|||||in the||||| ||financial statements
until they are sold.||||||||||||||||||||||||||||||||||||||||||| ||Amounts
owing to the PCC at 31 December
in respect offees, 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 COIF Charities
Deposit Fund, or|||||||at|the|||bank.|||||||||||||||||||||||||||||||| ||Debtors and creditors receivable/payable
within one year are recorded at transaction||||price.||||||||||||||||||||||||||||||||||||||| ||Total income
in 2020 was L1,815,885 [2019:E1,850,153]ofwhich E1,648,371 [2019:F1,739,386]was unrestricted|Total income
in 2020 was L1,815,885 [2019:E1,850,153]ofwhich E1,648,371 [2019:F1,739,386]was unrestricted|Total income
in 2020 was L1,815,885 [2019:E1,850,153]ofwhich E1,648,371 [2019:F1,739,386]was unrestricted|Total income
in 2020 was L1,815,885 [2019:E1,850,153]ofwhich E1,648,371 [2019:F1,739,386]was unrestricted|Total income
in 2020 was L1,815,885 [2019:E1,850,153]ofwhich E1,648,371 [2019:F1,739,386]was unrestricted|income| |---|---|---|---|---|---|---| ||and F167,514[2019:F110,767]was restricted||income.|||| ||Prior Year comparatives||2019
Unrestricted|2019 Restncted|Total Funds|| ||||General
Funds|Funds||| ||||||2019|| |2|a|Donations
and Legacies|1,398,423|108,517|1,506,940|| |2|b|Investments
income|1,220||1,220|| |2|c|Charitable
activities|240,170|2,250|242,420|| |2|d|Other Income|99.573||99.573|| |||Total Income|1,739,386|110,767|1,850,153|| ||Total expenditure|Total expenditure|in 2020 was E1,671,600 [2019:E1,713,454]ofwhich E1,556,863 [2019:E1,580,509]was unrestricted|in 2020 was E1,671,600 [2019:E1,713,454]ofwhich E1,556,863 [2019:E1,580,509]was unrestricted|in 2020 was E1,671,600 [2019:E1,713,454]ofwhich E1,556,863 [2019:E1,580,509]was unrestricted|in 2020 was E1,671,600 [2019:E1,713,454]ofwhich E1,556,863 [2019:E1,580,509]was unrestricted| |---|---|---|---|---|---|---| ||expenditure
and E114,737 [2019:E132,945]was restricted|||expenditure.||| |||Prior Year comparatives||2019
Unrestricted|2019 Restricted|Total Funds| |||||General
Funds|Funds|| |||||||2019| |3|a|Chahtable
activities|- Grants|103,275|18,045|121,320| |3|b|Charitable
activities|—Ministry|1,453,915|112,947|1,566,862| |3|c|Governance
costs||23.319|1.953|25.272| |||Total Expenditure||1,580,509|132,945|1,713,454| ## ## |Note|s to the financial stat|ements
for the year e|ements
for the year e|nded 31 Decemb|er 2020
(14)||| |---|---|---|---|---|---|---|---| |14a|Reconciliation
of net|income/(expenditure)||to net cash flow|from operating|activities|| |||||||2020|2019| ||Net income/(expenditure)
for the reporting
activities)||period|(as per the statement|offinancial|144,285|136,699| ||Adjustments
for:||||||| ||Depreciation
charges|||||26,480|25,409| ||Dividends,
interest and rents from investments|||||(725)|(1,220)| ||(Increase)/decrease|in stocks||||699|(2.452)| ||(Increase)/decrease|in debtors||||6,626|(5,957)| ||Increase/(decrease)|in creditors||||(12,716)|(60,606)| ||Net cash provided
by (used in) operating||acbvities||||71,871| |14b|Analysis ofcash and|caah equivalents|||||| |||||||2020|2019| ||Cash in hand|||||66,207|76,625| ||Notice deposits (less than 3months)|||||524,701|363,869| ||Total cash and cash|equivalents||||590,908|440,514| 21[￿151220