**www.crouchend.church**
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY Diocese of London**
**Charity Registration no. 1131307**
**Annual Report & Accounts 31 December 2020**
32 Crescent Road London N8 8AX
Independent Examiner Christine Cheung-Poston ACCA
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Report and Financial Statements 2020 Contents**
||**Page**|
|---|---|
|**Legal and administrative information**|**2**|
|**Report of the Parochial Church Council**|**3**|
|**Independent Examiner’s report to the Parochial Church Council**|**7**|
|**Statement of financial activities**|**8**|
|**Balance sheet**|**9**|
|**Notes to the financial statements**|**10**|
_1_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
**Legal and Administrative Information For the year ended 31 December 2020**
|**Charity Name**|Parochial Church Council of Christ Church, Hornsey|
|---|---|
|**Principal Address**|32 Crescent Road, Crouch End, London, N8 8AX|
|**Charity Registration**|1131307 The PCC was registered with the Charity Commission on 24thAugust|
||2009|
|**Governing Document**|Parochial Church Council Powers Measure (1956) as amended and Church|
||Representation Rules.|
|**Objectives**|Parochial Church Council Of Christ Church has the responsibility of cooperating with|
||the Incumbent of Christ Church, the Revd Adam Pymble, in promoting in the|
||ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and|
||ecumenical.|
|**Members of the PCC**|PCC members who served during 2020 or were serving at the date this report was|
||approved were:|
|Clergy|The Revd Adam Pymble (Vicar)|
|Wardens|Mr Jonathan Hannah|
||Mr Christopher Phillips|
||Dr James Maurice (Assistant Warden, elected 2020)|
|Deanery Synod Representative|Mr Richard Mercer|
|Elected members|Mrs Sheila Wheeler (Secretary)|
||Ms Rebekah Allcock (Treasurer, elected 2020 having been ex-officio as warden)|
||Mrs Renata Hodgson (elected 2020)|
||Mr Timothy Culverhouse (elected 2020)|
||Mrs Rebecca Constable (elected 2020)|
||Those who also served during 2020:|
||Dr. Ajibola Fapohunda|
||Ms Christabel Oshodi|
||Ms Lynette Woodrow|
||Ms Christine Cole|
|**Key Management**|Those in charge of planning, directing, controlling, running and operating the Charity,|
|**Personnel**|including those members of staff who are the senior management personnel to whom|
||the trustees have delegated significant authority or responsibility in the day-to-day|
||running of the charity, are the Vicar, members of the Standing Committee and the|
||Operations Manager.|
|**Bankers**|NatWest Bank Ltd|
||HSBC|
||Santander|
|**Independent Examiner**|Christine Cheung-Poston ACCA|
||Flat 48, Samford House,|
||Charlotte Terrace, London N1 0JF|
_2_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Report of the Parochial Church Council For the year ended 31 December 2020**
The Parochial Church Council of Parochial Church Council of Christ Church – Hornsey (“PCC”) submits its report and the financial statements of the PCC for the year ended 31 December 2020. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.
## **1. Structure, Governance & Management**
## **1.1 Trustees**
The PCC meets approximately 8 times per annum* to discuss a full range of matters, both operational and strategic, relating to finance, fabric, general administration and the mission/ministries of the church. The PCC also has responsibility for keeping of the Electoral Roll. Members of the PCC are either _ex officio_ or elected by the Annual Parochial Church Meetings (APCM) in accordance with the Church Representation Rules 2020
The method of appointment of PCC members is set out in the Church Representation Rules. All those who consider themselves part of the church family are encouraged to register on the Electoral Roll.
## **1.2 Church Attendance**
The Electoral Roll revised in preparation for the 2020 Annual Parochial Church Meeting (APCM) in April 2020 comprised 65 members. Average weekly church attendance in 2020 would only be pertinent for those weeks between lockdowns when the church building was open for public worship. Much of 2020 was facilitated through the livestream.
## **1.3 Risk Management**
The PCC’s primary concern and objective is the glory of God. Whilst it is the PCC’s policy to trust wholly in the Lord that He will work out His purpose to this end, the PCC also acknowledges that it has a responsibility, both as individual members and as a body of members, for the identification and proper management of risks faced by the church in achieving its primary aim. The PCC has therefore assessed the major risks to which the church is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The PCC believes that, by monitoring income, expenditure and reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the PCC, it has established effective systems and procedures to mitigate those risks.
## **2. Activities & Strategies**
In preparing this Report, the PCC has complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission and have sought to demonstrate that the PCC provides identifiable benefits which relate directly to its aims and which outweigh any potential detriment or harm. Further, the benefits are publicly available to all and are not in any way restricted to those able to pay. Any private benefits to members of the PCC are incidental.
To this end the PCC organises the following activities in order to enable ordinary people to live out their faith as part of our parish community:
- Sunday morning services (8am monthly / 10.30am weekly)
- Weekly Bible study small groups (Wednesday evenings / Friday mornings)
- Weekly youth programs for 11-18 years old (Sunday evenings)
- Weekly children’s ministry for 3-11 years old (Sunday mornings)
- Termly men’s and ladies fellowship evenings
- Termly prayer meetings (daily online at peak of lockdown)
_3_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
**Report of the Parochial Church Council For the year ended 31 December 2020**
## **3. Review of the Year**
2020 has been a year of significant challenge as the church family and team grappled with the pandemic. Church ministry suddenly needed to look very different and we are hugely grateful to all those who have been so flexible throughout the year and served to facilitate our church gatherings under the ‘new normal.’
Like so many other churches, we quickly adapted to running events online and sought ways to reach the vulnerable both without our surrounding communities and own church family. It was a privilege to do so, meeting more of our community and ‘loving one another’ and deepening our sense of unity in Christ at an important time in the life of the church family.
We were pleased to open our buildings when permitted by national guidelines (both Church of England and Downing Street) and also thank all those who at the end of the year worked tirelessly to make pre-recorded Christmas services possible.
For an overview of other PCC activities and church ministry that went on, please refer to ‘Other Reports’.
## **Other Reports**
## **Safeguarding**
1. The role of Parish Safeguarding Officer was handed over from Lynette Woodrow in October 2020 to Caroline Goringe and Olivia King. Caroline and Olivia are now the named PSOs for Christ Church.
2. A youth group for teenagers, two:42, commenced during this reporting period. This took place on a Sunday evening in the church and was conducted within safeguarding guidelines. It met online due to covid restrictions.
3. Most ministries which involved children and vulnerable adults ceased at the point of lockdown due to the Covid-19 Pandemic. Further lockdowns over the winter of 2020 resulted in very few possible activities and meetings for the remainder of the year.
4. At the point of the first lockdown, support networks were established to help some of our more vulnerable church family members with practical tasks
5. The Christchurch Crouch End safeguarding policy was updated in July 2020 and approved by the PCC. This has additional topics relating to online considerations and acknowledges that Christchurch Crouch End’s activities will be undertaken in accordance with the Government and the Church of England’s guidance.
6. The website continues to display safeguarding contact details as required. These details are also displayed within the church building alongside other important safeguarding details.
7. Any safeguarding concerns raised to either of the PSOs over the course of the past year have been progressed in accordance with safeguarding policy.
## **Church Fabric, Goods and Ornaments**
## _Church_
During the period the heaters have been upgraded in the creche, lounge, West Chapel and office. Existing electric and gas heaters which were faulty were removed and new electric wall heaters fitted.
The former choir vestry was repainted and refurbished as a more flexible space. The outside lighting was also refurbished It has been noticed that internal and external cracks have continued to develop around the tower. Also, the flooring of the chancel is showing signs of subsidence. At present the Church Insurers have instructed investigations to determine the cause of the movement.
## _Church Cottages_
Investigation and estimates prepared in anticipation of essential works and repairs in 2021 and beyond.
## **Uniformed Organisations**
The Beavers, Cubs and Scouts were unable to meet for much of 2020, and not at all at Christ Church. Once guidelines permitted, Friday evenings were spent enjoying a range of games and activities at Scout Park with one or two additional weekend excursions.
_4_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
**Report of the Parochial Church Council For the year ended 31 December 2020**
## **4. Financial Review**
## **4.1 Financial Activity and Financial Position**
This year returned a net operating surplus of £96,374 (2019: surplus of £15,640). In terms of the overall financial position, the balance sheet shows total net assets of £2,010,447 (2019: £1,914,703).
## **4.2 Reserves Policy**
The PCC has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. The PCC considers that, given the nature of the church’s work, free reserves should be equivalent to approximately 3 month’s routine general fund expenditure, plus committed future expenditure on other projects, where funds permit. The PCC is of the opinion that this provides sufficient flexibility to cover temporary shortfalls in income and will allow the church to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2020 the church had net free reserves of £207,425 (2019: £106,108) as follows:
|**Total reserves**
Less: restricted funds
Less: tangible fixed assets
Less: fixed asset investments
**Free reserves**
**Free reserves requirement:**
6 month’s budgeted routine expenditure|**2020**|**2019**
**£**
**1,914,703**
-
(23,595)
(1,785,000)|
|
|---|---|---|---|
||**£**|||
|||||
||**2,010,447**|||
||-|||
||(18,022)|||
||
(1,785,000)|||
|||||
|||**106,108**||
||**207,425**|||
|||||
|||**65,000**||
|||||
||**65,000**|||
|||||
|||||
The PCC is aware that the free reserves requirement is in excess of free reserves. Going forward, balanced operating budgets will be set by the PCC in order to maintain a level of free reserves which are at least equivalent to the free reserves requirement.
## **4.3 Investment Policy**
The church currently places spare funds on bank deposit.
## **4.4 Grants Policy**
The PCC makes annual grants to support missionary endeavours and charities in both the UK and abroad, notably in India and Chile. This was 5% of unrestricted income (which includes gift aid claimed back and rental/investment income) in 2020 and will be growing to10% in 2021. Regular recipients are under review.
## **5. Plans for Future Periods**
We are delighted to have welcomed the Armstrong family and seeing them settle in to our church and local community. We look forward to developing existing and new ministries in 2022, whilst also anticipating significant capital works on renovations to Cottage A, the Chancel’s subsidence repairs and anything else highlighted within our next quinquennial inspection due next year. The church family will be updated at our next APCM and Vision Evening in Spring 2022.
## **6. Responsibilities of Trustees for the Financial Statements**
The PCC is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the income and application of income of the charity for that period.
_5_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Report of the Parochial Church Council For the year ended 31 December 2020**
In preparing those financial statements, the PCC is required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles of the Charities SORP
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.
The PCC is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables 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 governing document. The PCC is 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. The PCC is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.
## **7. Approval**
The report of the PCC was approved by the PCC on 24 November 2021 and signed on its behalf by:
**Revd Adam Pymble Chairman**
_6_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Report of the Independent Examiner to the Parochial Church Council of The Parish of Christ Church Hornsey**
I report on the accounts of the Parochial Church Council of Christ Church Hornsey for the year ended 31 December 2020, which are set out on pages 8 to 15.
## _**Respective responsibilities of PCC and examiner**_
The PCC are responsible for the preparation of the accounts. The PCC consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
## It is my responsibility to:
- examine the accounts (under section 145 of the 2011 Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## _**Basis of independent examiners’ report**_
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true an fair view’ and the report is limited to those matters set out in the statement below.
## _**Independent examiners’ statement**_
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 church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
## **Christine Cheung-Poston ACCA**
24 December 2021
_7_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Statement of Financial Activities For the year ended 31 December 2020**
|**Note**
**Income from:**
2
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
**Total Income**
**Expenditure on:**
Raising funds
3
Charitable activities
4
**Total expenditure**
Net gains/(losses) on investments
**Net income**
Transfers between funds
Other recognised gains and losses
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
|**Unrestricted**
**Funds**
**2020**
**£**
156,106
1,164
2,267
63,807
-|**Restricted**
**Funds**
**2020**
**£**
-
-
-
-
-
**0**
-
-
**0**
-
**0**
-
-
**0**
**-**
**0**||**Unrestricted**
**Funds**
**2019**
**£**
102,634
13,439
8,635
69,329
154||**Restricted**
**Funds**
**2019**
**£**
-
-
-
-
-
**0**
-
-
**0**
-
**0**
-
-
**0**
**-**
**0**|**Total**
**2019**
**£**
102,634
13,439
8,635
69,329
154|
|---|---|---|---|---|---|---|---|
||||**Total**|||||
||||**2020**|||||
||||**£**|||||
|||||||||
||||156,106|||||
||||1,164|||||
||||2,267|||||
||||63,807|||||
||||-|||||
|||||||||
||**223,344**|||**194,191**|||**194,191**|
||||**223,344**|||||
|||||||||
||29,720
97,250
**126,970**
-
**96,374**
-
-
**96,374**
**1,914,073**
**2,010,447**|||13,318
165,233|||13,318
165,233|
|||||||||
||||29,720|||||
||||97,250|||||
|||||||||
|||||**178,551**|||**178,551**|
||||**126,970**|||||
|||||||||
|||||-|||-|
||||-|||||
|||||||||
|||||**15,640**|||**15,640**|
||||**96,374**|||||
|||||||||
|||||-
-|||-
-|
||||-|||||
||||-|||||
|||||||||
|||||**15,640**|||**15,640**|
||||**96,374**|||||
|||||||||
|||||**1,898,433**|||**1,898,433**|
||||**1,914,073**|||||
|||||||||
|||||**1,914,073**|||**1,914,073**|
||||**2,010,447**|||||
|||||||||
|||||||||
_8_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Balance Sheet For the year ended 31 December 2020**
|||**Unrestricted**|**Restricted**|||
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Total**|**Total**|
||**Note**|**2020**|**2020**|**2020**|**2019**|
|||**£**|**£**|**£**|**£**|
|**Fixed Assets**||||||
|Tangible Assets|5|18,022|-|18,022|23,595|
|Investments|6|1,785,000|-|1,785,000|1,785,000|
|||1,803,022|1,803,022
0|1,803,022|1,803,022
1,808,595|
|**Current Assets**||||||
|Stock||-|-|-|562|
|Debtors|7|31,000|-|31,000|17,945|
|Cash At Bank And In Hand||178,752|-|178,752|89,047|
|||209,752|209,752
0|209,752|209,752
107,554|
|**Creditors - Amounts Falling Due**||||||
|**Within One Year**|8|2,327|-|2,327|2,076|
||||-|||
|||||||
|**Net Current Assets**||207,425|0|207,425|105,478|
|**Net Assets**||**2,010,447**|**0**|**2,010,447**|**1,914,073**|
|||||||
|**Represented By:**||||||
|Restricted Funds||-|-|-|-|
|Unrestricted Income Funds||2,010,447|-|2,010,447|1,914,073|
|**Total Funds**||**2,010,447**|**0**|**2,010,447**|**1,914,073**|
The financial statements were approved by the PCC on 24 November 2021 and signed on its behalf by:
## **Rebekah Allcock Treasurer**
_9_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **1. Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Basis of accounting**
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value.
The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.
The PCC meets the definition of a public benefit entity under FRS 102.
## **Going Concern**
There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.
## **Income recognition**
Voluntary income and donations (including legacies) are accounted for once the PCC has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.
The income from trading activities includes rental income from the letting of church premises and leasehold land and buildings which is accounted for when earned. It is shown gross, with the associated costs included in fundraising costs.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **Expenditure recognition**
Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The PCC is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations and property maintenance costs.
Charitable expenditure includes those costs in fulfilling the PCC’s principal objects, as outlined in the Report of the PCC. These include grants payable, governance costs and an apportionment of support costs.
- Grants payable are payments made to third parties in furtherance of the PCC’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the PCC.
- Governance costs comprise all costs involving the public accountability of the PCC and its compliance with regulation and good practice. These costs include costs related to the independent audit/examination and legal fees.
The PCC contributes to certain employees' personal pension plans. These are defined contribution schemes, the assets of which are held separately from those of the charity. The cost in the accounts is the amount of contributions paid and payable during the year.
_10_
## **PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **1. Accounting Policies (continued)**
Rentals under operating leases are charged as incurred over the term of the lease.
## **Tangible Fixed Assets**
## _Consecrated Property and Moveable Church Furnishings_
Consecrated land and benefice property such as the church building and vicarage is excluded the accounts in accordance with s10 of the Charities Act 2011. Moveable church contents are held by the vicar and churchwardens on special trust for the PCC and require a faculty for disposal are accounted as inalienable property unless consecrated. All expenditure incurred on consecrated or benefice buildings and moveable church furnishings, whether maintenance or improvement, is expensed within the Statement of Financial Activities.
## _Other Fixtures, Fittings & Office Equipment_
The cost of other furniture, fittings and equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful lives of the assets, which have been estimated as between 4 and 15 years.
## **Fixed Asset Investments**
The church’s investments are represented by the church hall and two residential properties. These were last valued on 20 January 2018.
## **Debtors**
Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity 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. Creditors and provisions are recognised at their settlement amount.
## **Fund accounting**
The funds held by the charity are either:
- Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
_11_
**PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **2. Income**
|**Unrestricted**
**Funds**
**2020**
**£**
**Donations & legacies**
Offerings – planned giving & one off gifts
132,709
Offerings – collections
7,397
Income tax reclaimed
16,000
156,106
**Charitable activities**
Fee income (net)
333
Mission event contributions
831
Homework club
-
1,164
**Other trading income**
Fundraising
659
Books
408
Lettings income
1,200
2,267
**Investments**
Rental income
63,701
Bank Interest
106
63,807
**Other**
Miscellaneous income
-
**223,344**|**Restricted**
**Funds**
**2020**
**£**
-
-
-
0
-
-
-
0
-
-
0
-
-
0
-
**0**||||**Total**
**2019**
**£**
79,583
8,051
15,000|
|---|---|---|---|---|---|
||||**Total**|||
||||**2020**|||
||||**£**|||
|||||||
||||132,709|||
||||7,397|||
||||16,000|||
|||||||
||||||102,634
177
12,842
420|
||||156,106|||
|||||||
||||333|||
||||831|||
||||-|||
|||||||
||||||13,439
30
-
8,605|
||||1,164|||
|||||||
||||659|||
||||408|||
||||1,200|||
|||||||
||||||8,635
69,078
251|
||||2,267|||
|||||||
||||63,701|||
||||106|||
|||||||
||||||69,329
154|
||||63,807|||
|||||||
||||-|||
|||||||
||||||**194,191**|
||||**223,344**|||
|||||||
|||||||
## **3. Expenditure on Raising Funds**
|**Unrestricted**
**Funds**
**2020**
**£**
Church hall costs
25,839
Residential accommodation
2,855
Books
1,026
**29,720**|**Restricted**
**Funds**
**2020**
**£**
-
-
-
**0**||||**Total**
**2019**
**£**
8,881
4,437
-|
|---|---|---|---|---|---|
||||**Total**|||
||||**2020**|||
||||**£**|||
|||||||
||||25,839|||
||||2,855|||
||||1,026|||
|||||||
||||||**13,318**|
||||**29,720**|||
|||||||
|||||||
_12_
**PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **4. Expenditure on Charitable Activities**
|**4. Expenditure on Charitable Activities**||||||
|---|---|---|---|---|---|
|
**Unrestricted**
**Funds**
**2020**
**£**
Provision of Clergy (including Common Fund)
64,937
Church life & outreach
2,878
Gifts & grants (see note 4a)
1,575
Office costs
4,956
Provision of Church building, facilities & equipment
22,654
Governance
250
**97,250**|**Restricted**
**Funds**
**2020**
**£**
-
-
-
-
-
--
**0**||||**Total**
**2019**
**£**
101,137
28,824
3,600
6,817
24,855
-|
||||**Total**|||
||||**2020**|||
||||**£**|||
|||||||
||||64,937|||
||||2,878|||
||||1,575|||
||||4,956|||
||||22,654|||
||||250|||
|||||||
||||||**165,233**|
||||**97,250**|||
|||||||
|||||||
## **4a Gifts & Grants**
Gifts and grants included within Expenditure on Charitable Activities are as follows:
|**Unrestricted**
**Funds**
**2020**
**£**
Gifts & grants to:
Organisations
1,575
Individuals
-
**1,575**|**Restricted**
**Funds**
**2020**
**£**
-
-
**0**||||**Total**
**2019**
**£**
3,600
-|
|---|---|---|---|---|---|
||||**Total**|||
||||**2020**|||
||||**£**|||
|||||||
|||||||
||||1,575|||
||||-|||
|||||||
||||||**3,600**|
||||**1,575**|||
|||||||
|||||||
_13_
**PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **5. Tangible Fixed Assets**
|
**Cost**
At 1 January 2020
Additions
Disposals
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for Year
Disposals
At 31 December 2020
**Net Book Value**
At 31 December 2020
At 31 December 2019|**Fixtures,**|**Fixtures,**|
|---|---|---|
||**fittings,**||
||
**plant &**||
||
**equipment**||
|||
**£**|
||||
|||64,667|
|||-|
|||-|
||||
|||64,667|
||||
||||
|||41,072|
|||5,573|
|||-|
||||
|||46,645|
||||
||||
|||**18,022**|
||||
|||**23,595**|
||||
All of the fixed assets are used for charitable purposes.
## **6. Fixed Asset Investments**
|**Church Hall**
**£**
**Residential**
**Properties**
**£**
At 1 January 2020
625,000
1,160,000
Additions
-
-
Revaluation
-
-
**625,000**
**1,160,000**|||
|---|---|---|
||||
||**Total**||
||**£**||
||||
||1,785,000||
|||-|
|||-|
||||
||**1,785,000**||
||||
The church hall was valued at market value on 20 January 2018 by Cottage and Castle Chartered Surveyors in accordance with the Practice Statements in the RICS Appraisal and Valuation Manual. The hall was built to replace a previous facility and is available for external hire in addition to its ongoing use by the church.
There are two residential properties. A ground floor flat was valued at £410,000 and a first floor flat at £750,000 on 20 January 2018 by Cottage and Castle Chartered Surveyors in accordance with the Practice Statements in the RICS Appraisal and Valuation Manual. The flats were bequeathed to the church in order to support its Christian purpose. During the year the flats were let.
_14_
**PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH, HORNSEY**
## **Notes to the Financial Statements For the year ended 31 December 2020**
## **7. Debtors**
|**7. Debtors**|||||
|---|---|---|---|---|
|Prepayments
Income tax recoverable||**2020**||**2019**
**£**
2,946
15,000
**17,946**|
|||**£**|||
||||||
|||-|||
|||31,000|||
||||||
|||**31,000**|||
||||||
## **8. Creditors - Amounts Falling Due Within One Year**
|
Accruals
Rent deposit||**2020**||**2019**
**£**
-
2,077|
|---|---|---|---|---|
|||**£**|||
||||||
|||250|||
|||2,077|||
||||||
|||||**2,077**|
|||**2,327**|||
||||||
||||||
## **9. Operating Lease Commitments**
The total future minimum lease payments under non-cancellable operating leases are payable:
|Not later than one year
Later than one year and not later than five years||**2020**||**2019**
**£**
1,330
-|
|---|---|---|---|---|
|||**£**|||
||||||
|||1,416|||
|||4,937|||
||||||
|||||**1,330**|
|||**6,353**|||
||||||
||||||
## **10. Related Party Transactions**
The members of the PCC gave a total of £54,507 (2019: £21,292) in unrestricted offerings and donations during the year.
Richard Mercer, a member of the PCC, occupied the ground floor flat at Edison Road, London N8 8AE at a rental of £9,019.
_15_