Parochial Church Council of Christ Church Southgate Trustee Report and Financial Statements For the year end 31 December 2020 Charity Commission Registration Number 1131606 |Contents Page|| |---|---| |Report of the Trustees|2 - 5| |Report of the Independent Examiners|6| |Statement of Financial Activities|7| |Statement of Financial Position|8| |Notes to the Financial Statements|9-17| 1 ## **REPORT OF THE TRUSTEES for the year ended 31 December 2020** The Trustees have pleasure in presenting their report and the financial statements of the Parochial Church Council (PCC) for the year ended 31 December 2020. In preparing the financial statements, the Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2015). ## **Aims and Purposes** Christ Church Southgate PCC has the responsibility of cooperating with the incumbent, the Reverend Dr Chrichton Limbert, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the Parish Centre (Church House and Walker Hall), Flats 6 & 7 The Green and the house at 62 Oakfield Rd, Southgate. ## **Objectives and activities** The PCC is committed to enabling as many people as possible to worship at our church by being open, welcoming and inclusive to all. We aim to be a beacon of God’s love in the community; to offer life-long loving care and support to all, to draw them closer to God; to inspire prayer and worship through the beauty of art, music and liturgy. When planning our activities for the year, we have considered the Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable all people to live out their faith as part of our parish community through: - Worship, prayer and sacraments; learning about the Gospel; and deepening their personal relationship with God. - • Provision of pastoral care for people living in the parish. • Mission and outreach work. To facilitate this work, it is important that we maintain the fabric of Christ Church, the Parish Centre site and other properties. Under the current Covid-19 pandemic, we have followed all guidance and legislation issued by the government and taken all necessary steps to ensure that our worshipers, users of the Parish Centre, staff and parish committee members are kept safe at all times. ## **Achievements and performance** The work of the church has been greatly impacted by the pandemic, which required extended periods of closure as well as very practical changes to everything we do to enable social distancing and covid safety. A great deal of thought and effort went into adapting our offerings to retain a sense of community and ensure we were still “together while apart.” ## Worship The year started with a strong musical offering with an Epiphany carol service and a family friendly Eco-service in March, where Eco pledges were made and hung on an aisle of trees up the length of the church. After that the church was either closed or operating under reduced capacity to preserve social distancing. Sadly, we missed all of Easter in church, but celebrated a ticketed Requiem Mass for All Souls in November. The church was open for Christmas but the usual wellattended Crib service was replaced with an installation of trees and lights, for people to “Follow the Angels” to visit the crib – with live music provided by the junior choir. The Nine Lessons and Carols was repeated twice to a ticketed congregation with reduced capacity. During Advent the knitted crib figures that make up the Travelling Crib were unable to go on a house-to-house journey around the parish, so went around the parish outside, with their daily location posted on all our social media platforms so they could be tracked. The journey was included in the on-line Crib service which had over 200 views. However, much of the worship was transferred to pre-recorded services on our YouTube channel. A video service of the word was issued each week from the end of March – with specials for big festivals. These have been supported by clergy and laity recording readings, prayers and sermons at home, as well as the choir going “virtual” – recording and filming voice parts of a psalm, anthem and two hymns for each week, which were edited together by the Director of Music. The viewing figures for these services have been very strong – from about 100 to over 500 in some instances – more than would have come to church. This was particularly noticeable at Christmas where the restricted capacity figures in church, when added to the online viewing figures meant that we reached over 1000 people, more than would have come in normal years. As a result, the choir and music has continued to thrive and make music, despite the fact that all the planned concerts and cathedral visits had to be cancelled. Despite the pandemic and being closed for most of the year we have continued to provide services for the community at pivotal times of their lives, so have performed 2 marriages, welcomed 1 child into the Christian Faith through baptism (but many families are waiting to re-book their cancelled ceremonies) and conducted 16 funerals – in both church and crematorium. We lost our Lent Course and parish Quiet Weekend to the pandemic, as well as planned visits to the church by the Deputy Lieutenant of Enfield and the Bishop of Edmonton, but they both sent us recordings of their contributions to use online. 2 Our printed materials and digital footprint have flourished this year. Our subscribers to Twitter and our weekly email greatly increased and we re-invigorated our Instagram feed that is rapidly growing. Our parish magazine was expanded and the print run increased three-fold to 200 in March when it was decided to send it by post to every household on the electoral roll, as well as other subscribers. It was used to send liturgy and prayer materials, as well as gifts such as palm crosses, prayer cards and colouring sheets. Another member of the congregation was accepted for Lay Reader training, with a view to being licensed in 2021. ## Outreach In early 2020, the Vicar’s Pre-Lent Big Quiz was rapidly sold out and keenly contested by church and community teams while raising money for the Bishop’s Lent Appeal. Sadly, this was the only event that was to survive the closure, the main loss being a community tea party and other celebrations for VE Day. ## Youth The junior choir has been maintained, with over 20 regular members. They sang at the Christmas special event and have been kept together by regular zoom socials and rehearsals. No school services or visits were possible, but the Vicar recorded video messages for the end of term and harvest online school services. ## Older People Our monthly services in our parish care homes and taking communion to the housebound has been dramatically curtailed. The weekly “Stop Falls” session for Age UK was stopped by the pandemic. Just before lockdown we were accepted to host a weekly café on a Friday morning as part of the “Places of Welcome” scheme. Despite the lack of physical contact many organised and informal networks of people have maintained a sense of belonging by calls and emails to the elderly. As well as receiving the monthly magazine, a number of cards and letters were sent to our senior members for VE Day and other specific events. ## Nurture The Lent Course based on the film _Mary Poppins Returns_ only ran for 2 weeks before closure and the Quiet Weekend was cancelled. In October, a break in the restrictions allowed a total of 11 people to walk in two separate groups (one taking all month and one taking a week) on a pilgrimage along a 35 mile route from St Paul’s Cathedral to St Alban’s Abbey. It was a welcome change to get outside and enjoy fellowship – if rather cold and wet at times. On every Sunday that that the church was closed, the Vicar did a Prayer Walk around the parish boundary – a total of approximately 6miles. The route was publicised and a number of other clergy and congregation members have also taken part. ## Accessibility The new and enhanced sound system that was completed just at the end of 2019 proved to be invaluable, as social distancing meant that people have had to be spread out around the four corners of the building and they could all hear every word of the services. Plans have moved on a little to offer, via a major building project, accessibility to toilet facilities, catering provision, as well as new pastoral and community spaces. ## Foundations The high level of uptake of the Parish Giving Scheme has been invaluable in 2020. A full set of leaflets to encourage giving and legacies were finalised, but the campaign was postponed. ## **Financial review** The Statement of Financial Activities (SoFA) is attached to this report. Total income was £195,891 (2019: £263,677) and expenditure £231,450 (2019: £350,435) giving a total operating surplus, including gains and losses of £32,917 (2019: deficit of £18,939). After taking into account the net investment gains the total funds balance is £3,298,598 (2019: £3,265,681) of which £402,230 (2019: £418,690) is for restricted purposes. The reduced income results from the closure of the church building and Parish Centre for much of the year due to the restrictions imposed during the COVID-19 pandemic. 3 **Reserves policy** The PCC regularly reviews its Reserves Policy. The policy is to maintain a balance on free unrestricted funds of three months unrestricted expenditure. An additional sum of £15,000 will be held to cover any emergency work on the buildings. Reserves are held in funds that support the policies of the Church of England’s Ethical Investment Advisory Group. ## **Going Concern** The Trustees consider that that the Church has adequate resources to meet its future liabilities for the foreseeable future and for this reason continue to adopt the ‘going’ concern basis in preparing the financial statements. ## **Volunteers and Employees** The work of Christ Church Southgate would not be possible without the contribution of the many volunteers who contribute their time, energy, experience and skills to our church community. Following a review during the 2020 accounting year, the director of music was moved to employed status, and a part time administrator was employed in the year. ## **Structure, governance and management** Members of the PCC are either ex-officio or elected at the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how funds of the PCC are to be spent. The full PCC met seven times during the year. The finance and standing committee (FSC), the only committee of the PCC required by canon law, met as required during the year. The FSC carries out the business of the PCC between meetings subject to the directions given by the Council. Members of the FSC are the incumbent, the Churchwardens and Deputies, Treasurer and Secretary. Given the breadth of its responsibilities, the PCC also has a number of other committees, each focusing on a specific aspect of parish life. These committees are all responsible to the PCC, with reports received and discussed by the PCC as necessary. ## **Reference and Administrative Information** |**Name of Charity**|The PCC of the Ecclesiastical Parish| |---|---| ||of Christ Church, Southgate| |**Charity registration number**|1131606| |**Principal address**|1 The Green| ||Southgate| ||London| ||N14 7EG| |**Bank**|Barclays Bank PLC| ||18-24 Chaseside| ||Southgate| ||London| ||N14 5PS| |**Auditors**|Anthony Croft Ezekiel Ltd| ||343 City Road| ||London| ||EC1V 1LR| 4 ## **Trustees** During the year, the following served as members of the PCC |Reverend Dr Chrichton Limbert|Chairman| |---|---| |Reverend Hazel Miall|Assistant Priest| |Clare Boulton|Churchwarden and Acting Treasurer| ||(Vice Chair)| |Catherine Harvey|Churchwarden (until 25 October 2020)| |Kate Carroll|Churchwarden (from 25 October 2020)| |Ronald Lo|Deputy Churchwarden| |Patricia Ashby|Deputy Churchwarden| |Jackie Anderson|Lay Reader| |Sandra Anderson|Licensed Lay Minister| |Cathy Dallman|Lay Reader| |Tracy Allen|(from 25 October 2020)| |Christopher Howell|| |Briony Hadjidaniel|(until 25 October 2020)| |Peter Holiday|| |John Macrory|(Secretary until 25 October 2020)| |Hilary Meur|| |Angela Parker|| |Beverley Rutledge|(from 25 October 2020)| |Gina Stone|(from 25 October 2020)| |Teresa Walden|(until 25 October 2020)| |Clive Woodhouse|(from 25 October 2020)| Approved by the Board of Trustees and signed on its behalf by **Rev’d Dr Chrichton Limbert** **Date 30 April 2021** 5 INDEPENOENT EXAMINER'S REPORT TO THE TR TEES OF THÈ CHR T CHURCH TE PCC I rewrt on 8ccounts ofthe company lor th8 year ended 31 D￿rntser 2ff20, as set out on pajes 7 to 17 RESPÈCTIVE RESPONSIBILITIES OF THE CHARITY AND THE EXAMINER The charity'5 trustees are responsible for the preparation of the accounts. The charity's trustees consider Ihal #n audit is not required for this year under section 144121 of the Charilyas Act Ilhe 2011 Act) an(1 that an indep8ndeni examination Is needod. and en$￿￿ that the accounts have èeen prepared under the FRS 102 ISORPI framework and in line with th& rewirements und&r the 2015 Order. It Is my ￿SpOnsIbl11ty lo.. examine ts accounts under Section 145 of the Charity Act 2011., to follow the Pro￿dureS laKI down In th8 general Direclons given by the Chanty Commission under section 145151 Ibl of the 2011 Act." and to stats whether pa￿'0j￿8r m8tt8rs have coffe to my attention. BASI REPORT My examination was carr*d out in accordan￿ wSth the gen8r81 Direclons gNen by the Ch8rty c0rnrniss￿n. An ax8min3tion indudes a re¥w of Ihe accounting records kepl by t￿ chanly and a cofflpaii50n of the accounts pre5enl£d with those records. It also includes consideration of any unusual items or disclosures In the accounts. and seekingexplanatson$ trom you as twstee8 concerning any such matters. The procedures undertaken do not provide all the &¥￿enCe Ihatwould be reqUI￿d In an aucjil and eonsequÈnJy no opinion is given as lo whether the accoun18 present a 'true and fair view. and the report 15 limited lo those matters sei out in the 51atem8nl b810w. INDEPENDENT EXAMINER'S STATEMENT In connection with my exarninalion. no matter has corne to ffly attentwjn lolher than that disclosed belowl.. 111 wh￿h gives me rea50nabk cause to believe that in any material rospecl the requir8Thnts'. to keep arxounting ￿CordS in accordan￿ with sect￿n 130 of the Charitses Ad". and to prepare attounts which actord with the accounting ret(*d5, cornply with the accounting requirorrents of the Chanlvas Act have not been me( or 121 lo %vh inion. attention shouhl bg drawn in order to en8ts￿ a proper understsnding of Ihe a￿￿nts to tse re8th8d. SPE IC OISCL ve not see URE direct paty **Income and endowments from:**
Donations and legacies
2
Charitable activities
3
Investments
4
Other income
5
**Total**
**Expenditure on:**
Charitable activities
6/7
Other expenditure
**Total**
Net gains/(losses) on investments
**Transfers between funds**
**Other recognised gains/losses**
Gains/(losses) on revaluation of
fixed assets
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
9,766
131,868
12,514
36,181
**190,329**
(188,128)
(20,541)
**(208,669)**
28,461
-
39,256
**49,377**
2,846,991
**2,896,368**|**Restricted**
**funds**
**£**
4,601
610
351
-
**5,562**
(22,781)
-
**(22,781) **
759
-
-
**(16,460)**
418,690
**402,230**|**2020**
**£**
14,367
132,478
12,865
36,181
**195,891**
(210,909)
(20,541)
**(231,450)**
29,220
-
39,256
**32,917**
3,265,681
**3,298,598**|**2019**
**£**
5,994
204,920
12,533
40,230| |---|---|---|---|---| |||||**263,677**| |||||(344,650)
(5,785)| |||||**(350,435)**| |||||67,819
-
-
**(18,939)**| |||||3,284,620
**3,265,681**| 7 ## CHRIST CHURCH SOUTHGATE PCC Statement of Financial Position As at 31 December 2020 |**Notes**
**Fixed assets**
Tangible assets
11
Investments
12/13/14
**Current assets**
Debtors
15
Cash at bank and in hand
**Creditors: amounts falling due within one year**
16
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Restricted income funds
17/18
Unrestricted income funds 18
Endowment-Permanent Restricted 18
Endowment-Permanent Unrestricted 18
Endowment-Non Permanent Unrestricted
Endowment-Non Permanent Restricted 18
**Total funds**|**2020**
**£**
1,584,554
1,213,307|

**2019**
**£**

1,584,723

1,144,830| |---|---|---| ||**2,797,861**|
**2,729,553**| ||1,528
504,009|
1,504

541,914| ||**505,537**|
**543,418**| ||(4,800) (7,290)
**500,737**
**536,128**|| ||**3,298,598**|
**3,265,681**| ||**3,298,598**|
**3,265,681**| ||402,230
2,442,226
7,949
198,112
244,229
3,852|418,690





2,422,070
7,438
185,365
228,515
3,603| ||**3,298,598**|
**3,265,681**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: **Rev’d Dr Chrichton Limbert** Trustee **30 April 2021** 8 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements For the year ended 31 December 2020 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 SORP 2015), effective 1 January 2015’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. CHRIST CHURCH SOUTHGATE PCC meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Going concern** The trustees have a reasonable expectation that the organisation has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual reports and Accounts. ## **Statement of cash flows** The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is small. ## **Funds** Unrestricted funds represent the funds of the PCC that are not subject to any restriction regarding the use and are available for application to the general purposes of the PCC. This includes funds designated for a particular by the PCC. The accounts include transaction, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church groups that own an affiliation to another body, nor those that are informal gatherings of church members. The Restricted funds relate in the main to the Fabric Appeal funds for the maintenance of the church building. The major part of these funds were held on deposit with the Central Board of Finance of the Church of England. The Endowment Funds are separated into, Permanent Restricted, Permanent Unrestricted, Non-permanent Endowment Unrestricted and Non-permanent Endowment Restricted, as broken down in note 18 below. ## **Incoming resources** Voluntary Income Collections are recognised when made. Amounts receivable under Gift Aid are recognised only when received. Income tax recoverable on Gift Aid donations are recognised when claimed from HM Revenue and Customs. Grants and legacies to the PCC are accounted for when received. VAT recoverable on certain capital expenditure is recognised when received. ## Income from Charitable Activities Rental income from the letting of the church halls is accounted for when earned. Parochial fees due to the PCC for weddings, funerals, etc, are accounted for when received. ## Income from Investments The gross amounts of dividends and interest are accounted for when due. Residential properties income is accounted for in accordance with the tenancy agreements in force. ## Investment Gains and Losses Realised gains and losses on investments and properties are recognised when disposed of. Unrealised gains and losses are accounted for on revaluation of investments and properties at the year end. ## **Resources expended** Liabilities for expenditure are recognised in accordance with the accruals concept. Charitable Activities The annual Diocesan quota is accounted for when paid. 9 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **Tangible fixed assets** ## Fixed assets ## Consecrated Land and Buildings and Chattels Consecrated and beneficed properties are excluded from the financial statements in accordance with s.10(2)(a) and (c) of the Charities Act 2011. No value is placed on chattels held by the churchwardens on special trust for the PCC and which require a faculty for disposal, since the PCC considers this to be inalienable property. All capital and revenue expenditure incurred during the year on consecrated and beneficed buildings and chattels of the Church are written off in the year. The land registry title for the Parish Centre site (comprising of Walker Hall, Church House and Flats 6 and 7 The Green) refers to that land as the Vicarage. The vicarage has since been demolished and replaced by the Parish Centre with the current Vicarage built on land nearby which was the site of the, now demolished, old Walker Hall. We are aware that the land registry title named as Walker Hall is now the site of the current vicarage and that it is in the name of the Rev Murray Holt Macleod of Christ Church Southgate Enfield, Middx. As this is a beneficed property it is excluded from the financial statements as above. ## Other Land and Buildings Other land and buildings held on behalf of the PCC for its own purposes and use, are valued at market value (taken as insurance rebuilding costs). No depreciation is charged against residential properties, but any expenditure on maintenance and improvement is written off as incurred. Depreciation on Church House and Walker Hall is charged from 1st January 1971 over 75 year life. Contrary to the previous policy and practice of depreciating Church House and the Walker Hall, in light of the recent changes brought about by FRS (Financial Reporting Standard) 102 and the SORP (Statement of Recommended Practice), the PCC has decided not to depreciate these properties since 1st January 2017. ## Other Fixtures, Fittings and Office Equipment Depreciation is charged at 15% per annum on a reducing balance basis. ## Investments Investments are disclosed at the market value at the year end. ## **Current asset investments** Short Term Deposits at the year-end were held with Central Board of Finance (CBF) for all the main Parochial funds. The Fabric Fund is held with the CFB, the CFB pay deposit interests quarterly at variable rates, which closely reflect the Money Market rates. ## **Irrecoverable VAT** Irrecoverable VAT is included in the Statement of Financial Activities, and is reported as part of the expenditure to which it relates. ## **2. Income from donations and legacies** |Donations received
Legacies received|**Unrestricted**
**funds**
**£**
8,766
1,000
**9,766**|**Restricted**
**funds**
**£**
4,601
-
**4,601**|**2020**
**£**
13,367
1,000
**14,367**|**2019**
**£**
4,494
1,500| |---|---|---|---|---| |||||**5,994**| 10 ## CHRIST CHURCH SOUTHGATE PCC ## Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **3. Income from charitable activities** |_Parochial Fund Account_
Regular Giving (Gift Aided)
Regular Giving (Non Gift
Aided)
Collections (Plate)
Income Tax Recoverable
Occasional Offices, Merchandise & Sundry Income.
_Spire Magazine Account_
Magazine
_Parish Centre Account_
_Social Responsibility Account_
Social Responsibility
Committee
**nvestment income**
**Unrestricted and restricted funds**
Income from listed investments
**ther income**
Rental Income
Other Income (Bank Refund)
Unclaimed (Bank) Funds
Lettings
Rent re Sub-Station
Rent - Christ Church
Association
Donations
Sundry Income & Interest
Receivable|**Unrestricted**
**funds**
**£**
64,544
4,226
1,986
18,284
6,987
**96,027**
**1,680**
**3,693**
**131,868**
**Unrestricted**
**funds**
**£**
36,181
-
-
**36,181**
29,075
250
-
1,000
143
**30,468**|**Restricted**
**funds**
**£**
-
-
-
-
610
**610**
**-**
-
-
-
-
-|**2020**
**£**
64,544
4,226
1,986
18,284
7,597
**96,637**
**1,680**
**3,693**
**132,478**
**2020**
**£**
12,865
**12,865**
**2020**
**£**
36,181
-
-
29,075
250
-
-
1,000
143
**30,468**|**2020**
**£**
64,544
4,226
1,986
18,284
7,597
**96,637**
**1,680**
**3,693**
**132,478**
**2020**
**£**
12,865
**12,865**
**2020**
**£**
36,181
-
-
29,075
250
-
-
1,000
143
**30,468**|**2019**
**£**
65,470
3,108
5,304
18,661
39,935| |---|---|---|---|---|---| ||||**96,637**
**1,680**
29,075
250
-
-
1,000
143||**132,478**
**1,557**
**8,723**
58,930
250
1,000
1,280
702
**62,162**| ||||||| |||**-**
**610**
**Restricted**
**funds**
**£**
-
-
-
**-**
**-**|**3,693**
**30,468**||| ||||**132,478**||**204,920**| ||||**2020**
**£**
12,865||**2019**
**£**
12,533| ||||**12,865**||**12,533**| ||||**2020**
**£**
36,181
-
-||**2019**
**£**
40,230
-
-
**40,230**| ||||**36,181**||| ## **4. Investment income** ## **5. Other income** 11 ## CHRIST CHURCH SOUTHGATE PCC ## Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **6. Costs of charitable activities by fund type** |**6. Costs of charitable activities by fund type**||||||| |---|---|---|---|---|---|---| |Parochial Fund Account
Spire Magazine Account
Parish Centre Account
Social Responsibility Account
Support costs
**8. Analysis of support costs**
Fees to Support Staff
(Employed and Self-
Employed)
IT
Church Admin Costs
Staff Training &
Development
Governance costs
**. Costs of charitable activities by activity type**
Parochial Fund Account
Spire Magazine Account
Parish Centre Account
Social Responsibility Account|**Parochial**
**Fund**
**Account**
**£**
15,213
-
6,203
60
2,700
**24,176**
**Activities**
**undertaken**
**directly**
**£**
140,274
2,285
33,992
2,710
**179,261**|**Unrestricted**
**funds**
**£**
117,709
2,285
33,992
2,915
31,227
**188,128**
**Spire**
**Magazine**
**Account**
**£**
-
-
-
-
-
**-**
**Expenditure**
**on raising**
**funds**
**£**
-
-
-
205
**205**|**Restricted**
**funds**
**£**
22,565
-
-
-
216
**22,781**
**Parish**
**Centre**
**Account**
**£**
7,267
-
-
-
-
**7,267**
**Support**
**costs**
**£**
24,176
-
7,267
-
**31,443**|**2020**
**£**
140,274
2,285
33,992
2,915
31,443|











|**2019**
**£**
230,944
106
57,687
8,940
46,973| |||||**210,909**||**344,650**| |||||**2020**
**£**
22,480
-
6,203
60
2,700
**2020**
**£**
164,450
2,285
41,259
2.915
**210,909**||**2019**
**£**
33,462
-
7,826
495
5,190
**2019**
**£**
262,171
106
73,433
8,940
**344,650**| |||||**31,443**||**46,973**| ## **7. Costs of charitable activities by activity type** 12 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements Continued For the year ended 31 December 2020 ## 9. **Net income/(expenditure) for the year** This is stated after charging/(crediting): |This is stated after charging/(crediting):||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |Depreciation of owned fixed assets|1,487|1,711| |(Gain)/Loss on disposal of fixed asset investments|-|-| ## **10. Comparative for the Statement of Financial Activities** |**Income and endowments from:**
Donations and legacies
Charitable activities
Investments
Other income
**Total**
**Expenditure on:**
Charitable activities
Other expenditure
**Total**
Net gains/(losses) on investments
**Other recognised gains/losses**
Gains/(losses) on revaluation of fixed
assets
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
4,518
194,842
12,212
40,230
**251,802**
(257,866)
(5,785)
**(263,651)**
66,057
-
**54,208**
2,792,783
**2,846,991**|**Restricted**
**funds**
**£**
1,476
10,078
321
-
**11,875**
(86,784)
-
**(86,784)**
1,762
-
**(73,147)**
491,837
**418,690**|**2019**
**£**
5,994
204,920
12,533
40,230| |---|---|---|---| ||||**263,677**| ||||(344,650)
5,785)| ||||**(350,435)**| ||||67,819
-| ||||**(18,939)**| ||||3,284,620| ||||**3,265,681**| 13 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **11. Tangible fixed assets (not stated at market values)** |c
At 31 December 2019
**Cost or valuation**
At 01 January 2020
Additions
At 31 December 2020
**Depreciation**
At 01 January 2020
Charge for year
At 31 December 2020
**Net book values**
At 31 December 2020|~~**1,575,540**~~
**Land and**
**buildings**
**£**
2,345,000
**2,345,000**
769,460
-
**769,460**
**1,575,540**|~~**9,183**~~
**Fixtures and**
**fittings**
**£**
57,272
1,318
**58,590**
48,089
1,487
**49,576**
**9,014**|**Total**
**£**
2,402,272
1,318| |---|---|---|---| ||||**2,403,590**| ||||817,549
1,487| ||||**819,036**| ||||
**1,584,554**| ||||~~**1,584,723**~~| ## **Investments** ## **12. Analysis of movement of commercial investments** |Market value at 01
January 2020
Disposals at carrying
value
Net gain/(loss) on
revaluation
Market value at 31
December 2020
**Analysis of investments between funds as at year ended 31 December 2020**
**Unrestricted**
**funds**
**£**
Investment properties
759,163
Listed investments
-
**759,163**|**Investment**
**property**
**£**
719,907
-
39,256
**759,163**
**Endowment**
**funds**
**£**
-
454,144
**454,144**||**Listed**
**investments**
**£**
424,923
-
29,221
**454,144**||**Total**
**£**
1,144,830
-
68,477
**1,213,307**| |---|---|---|---|---|---| |||
||
|| ||||**2020**
**£**
759,163
454,144
**1,213,307**||**2019**
**£**
719,907
424,923
**1,144,830**| ||||||| ## **13. Analysis of investments between funds as at year ended 31 December 2020** ## **14. Analysis of movement of social investments** There were no movements in social investment this year 14 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **15. Debtors** |**Amounts due within one year:**
Trade debtors and Prepayments
**Creditors: amounts falling due within one year**
**Movement in funds**
Trade creditors and Accruals
**Unrestricted and**
**Endowment Funds**
**Balance at**
**Incoming**
**01/01/2020**
**resources**
**£**
**£**
_General_
Designated Funds
26,890
-
General Funds
2,820,101
190,329
**2,846,991**
**190,329**
**Unrestricted and Endowment Funds - Previous year**
**Balance at**
**01/01/2019**
**Incoming**
**resources**
**£**
**£**
_General_
Designated Funds
32,620
-
General Funds
2,760,163
251,802
**2,792,783**
**251,802**|**Outgoing**
**resources**
**£**
(3,672)
(204,997)
**(208,669)**
**Outgoing**
**resources**
**£**
(5,730)
(257,921)
**(263,651)**|**Transfers**
**£**
-
-
**-**
**Transfers**
**£**
-
-
**-**|**2020**
**£**
1,528
**1,528**
**2020**
**£**
4,800
**4,800**
**Gains and**
**losses**
**£**
-
67,717
**67,717**
**Gains and**
**losses**
**£**
-
66,057
**66,057**|**2019**
**£**
1,504
**1,504**
**2019**
**£**
7,290
**7,290**
**Balance at**
**31/12/2020**
**£**
23,218
2,873,150| |---|---|---|---|---| |||||**2,896,368**| |||||**Balance at**
**31/12/2019**
**£**
26,890
2,820,101| |||||**2,846,991**| ## **16. Creditors: amounts falling due within one year** ## **17. Movement in funds** 15 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **Purpose of unrestricted Funds** ## Designated Funds These are funds set aside by the PCC - Southgate, for specific projects. ## General Funds These are free reserves at the disposal of the PCC - Southgate, to be applied at their discretions but within the objects of the Church. ## **Restricted Funds** |Restricted Funds
**Restricted Funds - Previous year**
Restricted Funds|**Balance at**
**01/01/2020**
**£**
418,690
**418,690**
**Balance at**
**01/01/2019**
**£**
491,837
**491,837**|**Incoming**
**resources**
**£**
5,562
**5,562**
**Incoming**
**resources**
**£**
11,875
**11,875**|**Outgoing**
**resources**
**£**
(22,781)
**(22,781)**
**Outgoing**
**resources**


**£**
(86,784)
**(86,784)**|**Gains and**
**losses**
**£**
759
**759**
**Gains and**
**losses**
**£**
1,762
**1,762**|**Balance at**
**31/12/2020**
**£**
402,230| |---|---|---|---|---|---| ||||||**402,230**
**Balance at**
**31/12/2019**
**£**
418,690
**418,690**| ## **Purpose of restricted funds** Restricted Funds These are funds restricted by the donors of the Church ## **Purpose of endowment funds** Permanent Endowment Restricted This is a Permanent Endowment Fund Permanent Endowment Unrestricted This is a Permanent Endowment Fund Non-Permanent Endowment Unrestricted Non-permanent endowment unrestricted, its expendable. Non-Permanent Endowment Restricted Non-permanent endowment Restricted, its expendable. 16 CHRIST CHURCH SOUTHGATE PCC Notes to the Financial Statements Continued For the year ended 31 December 2020 ## **18. Analysis of net assets between funds** |**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Funds
**Endowment funds**
Permanent Endowment Restricted
Permanent Endowment Unrestricted
Non-Permanent Endowment Unrestricted
Non-Permanent Endowment Restricted
**Previous year**
**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Funds
**Endowment funds**
Permanent Endowment Restricted
Permanent Endowment Unrestricted
Non-Permanent Endowment Unrestricted
Non-Permanent Endowment Restricted|**Tangible**
**fixed assets**
**Investments**
**Net current**
**assets/**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
**£**
1,584,554
759,165
98,507
2,442,226
-
-
402,230
402,230
-
7,949
-
7,949
-
198,112
-
198,112
-
-
244,229
3,852
-
-
244,229
3,852| |---|---| ||**1,584,554**
**1,213,307**
**500,737**
**3,298,598**| ||**Tangible**
**fixed assets**
**Investments**
**Net current**
**assets/**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
**£**
1,584,723
719,909
117,438
2,422,070
-
-
418,690
418,690
-
7,438
-
7,438
-
185,365
-
185,365
-
-
228,515
3,603
-
-
228,515
3,603| ||**1,584,723**
**1,144,830**
**536,128**
**3,265,681**| 17