**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL ANNUAL REPORT & FINANCIAL STATEMENTS** **31 DECEMBER 2020** **Charity Number 1131689** **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **ANNUAL REPORT & FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** |**Contents**|**Pages**| |---|---| |Trustees’ Annual Report|1 – 4| |Reference & Administrative Information|5 - 6| |Independent Examiner’s Report|7| |Statement of Financial Activities|8| |Balance sheet|9| |Notes to the financial statements|10 - 20| **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2020** ## **Structure, Governance and Management** Christ Church, Downend is part of the diocese of Bristol within the Church of England. The Parochial Church Council (PCC) is a charity registered with the Charity Commission in England and Wales number 1131689, as The Parochial Church Council of the Ecclesiastical Parish of Christ Church, Downend, Bristol. The method of appointment of PCC members (the trustees) is set out in the Church Representation Rules. Church members are invited to stand for election to the PCC at the Annual Parochial Church Meeting and are voted for by those on the Church Electoral Roll. The trustees consider the PCC members and the senior ministry team/Heads of Ministry to be the key management personnel. Total benefits received by key management personnel during the year were £33,460. The clergy are paid by the Diocese. ## **Objectives and activities** Christ Church PCC is committed to promoting the whole mission of the Church in the ecclesiastical parish of Downend; and seeks to grow and nurture a vibrant Christian community which serves the local area. Our Vision revolves round the strap line ‘Learning to live the life’ which expresses a desire that all members of the Christ Church community understand and live out the teaching of Jesus where He has placed them. This we call ‘whole life discipleship’. The activities of the Church as a gathered community serve to equip people to live out their faith in their daily lives in word and action, and are led by a committed team of paid staff and volunteers, with a passion for serving Christ and equipping others. In planning the church’s activities, the PCC has had regard to the Charity Commission guidance on public benefit, and activities have been planned accordingly. Despite some of the restrictions placed upon us by the Covid pandemic we have been able to fulfil our mission in a variety of ways: - **Use of our church buildings -** Whilst there have been limited opportunities to open our buildings, we have ensured that where government guidelines have allowed, local community groups have been able to use them to benefit local residents and their families. To ensure that people have been able to engage in Christian worship and community, we adapted quickly to run services and groups online throughout the year, with strong levels of engagement. - **Engagement with youth, children and families** - This continues to be at the heart of Christ Church’s life and our team of staff and volunteers has adapted brilliantly to ensure that this has been effective during lockdown. Groups for children and young people have offered support and encouragement during a particularly stressful and challenging time. Support has also been provided through doorstep visits and when permitted, small group gatherings outdoors. - **Serving the wider community** - As the impact of the pandemic became clear, we expanded the work of our CAP Centre to enable us to provide practical help and support to people suffering from food poverty. This was expressed through a food delivery service and through a schools food programme whereby headteachers could nominate families to receive regular food deliveries funded by grants obtained by CAP. Later, in a response to the impacts on people’s mental health, Christ Church ran a number of Wellbeing Courses for both adults and young people. 1 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2020** - **Engaging with the wider world** - Christ Church has, through its tithe on general fund giving, continued to help to resource mission projects across the world. This has included projects in India, Uganda, Tanzania and Moldova as well as supporting persecuted Christians across the world and investing in our local CAP Centre. Volunteers from across the church community are proactive in engaging with and profiling these projects. - **Equipping church members to make a difference where they are.** In line with our ongoing commitment to whole life discipleship, our teaching programmes and activities have sought to equip people of all ages to live out their faith in their homes, places of work, and the wider community. In 2020 our teaching was particularly geared to helping people live out their faith when many of the old securities had been stripped away. Do look at our Church Annual Report which can be found on the Christ Church Downend website, www.christchurchdownend.com for further details of our Church’s activities. ## **Financial Review** The PCC’s Balance Sheet, (B/S) shows total assets of £1,449k, and the Statement of Financial Activities (SOFA) records an income of just under £384k for the year. However, it should be noted that £59k of the assets are held in “restricted funds”, and that £118k of the income received are restricted funds. Most of the money tied up in restricted funds relate to Christians Against Poverty and a legacy received during the year. Youth and Children’s Ministry funds and Open Church funds were reclassified as restricted funds this year as they included donations for these specific activities. Transfers of £30,686 were made from the Building 4 Life Restricted fund to the General Fund to recognise the repayment of loans made from general funds. A summary of key Fund movements can be seen in note 11 on page 18. ## **Unrestricted General Fund:** The PCC approved a small surplus General Fund budget for 2020 of £1,760, inclusive of fund movements. However, despite the uncertainties caused by Covid-19, income for the year came in £27k over budget due to the incredible generosity of our congregation. Expenditure was £78k down compared to budget, due to part of the parish share contribution being funded from a legacy, and we were able to repay B4L loans of £120k. The General Fund balance closed at £59,607. ## **Designated Funds:** - Net maintenance costs of £3,940 relating to the Church building reduced the Church’s AMP (Asset Management Plan) to £1,945. - Significant reductions in income due to Covid-19 meant the Christ Church Parish Hall General Fund made a net loss of £4,814 for the year, but these were largely covered by transfers from the General Fund to result in a closing balance of £4,186. The AMP Fund closed with a nil balance following expenditure of £4,841 during the year. Plans are in place to rebuild the AMP fund during 2021. - The Church Centre Quakers Road General Fund made an operating loss of £1,303 and carried forward a balance of £964. Costs of £2,949 were made against the Quakers Road AMP Fund which has a closing balance of £17,209. During the year, Quakers Road Hall made an operating profit of £744, and a total of £5,000 was transferred as a contribution to the Building Improvement Fund, jointly funded by Quakers Road General Fund and its AMP Fund. 2 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2020** ## **Restricted Funds:** - The Youth Ministry Fund received a grant from Co-op of £6,416 and, following expenditure of £5,255, the balance at the end of the year stands at £5,560. - The CAP Fund started the year at £10,847 and now stands at £23,139. - A legacy of £64,371 was received, with £37,500 used to contribute to the Parish Share. The balance of £26,871 will be used cover part of the 2021 Parish Share. - Over the year we gave away £19.5k to Church Mission Partners. These funds were raised through our 10% tithing of General Fund donations as well as from individual donors. ## **The Outlook for 2021 and beyond** The PCC has approved a surplus budget for the General Fund amounting to £23,823 due to a third of the Parish Share contribution being covered by part of a legacy received in 2020 combined with a significant and sustainable increase in giving income and stable cost-base. The budget includes provision to repay £18,500 towards the remaining balance of £160,000 interest-free loans from members of the congregation associated with the Building 4 Life Church refurbishment project completed in 2019. A strategy exists to repay the remaining congregational loans by 2027. Repayment of capital relating to the remaining £90,000 interest-bearing loan from the Diocese will be deferred until early 2022 when the G4L team will assess how best to utilise surpluses from 2020 and 2021 and recommend how these are allocated between the repayment of loans, supporting the Halls’ income losses due to Covid-19, and strengthening General Fund reserves. In the light of the Covid-19 pandemic in early 2020, the PCC has set in motion means of protecting income, reducing expenditure, and supporting staff. Specific measures included an increased frequency in reporting and monitoring, communications with the congregation around giving, and an early decision to reduce staffing costs by furloughing two members of staff. This enhanced governance model has continued into 2021 and will be maintained throughout 2021 for as long as deemed necessary. Actions taken during the 2020 year and the first half of 2021, combined with the generosity of our congregation, has meant the Trustees are confident as to the going concern position of the Church. The Rev. Jonathan Vickery will be retiring from the post of Incumbent Vicar on 30 June 2021 after 19 years in the post and we wish him, and his wife Shahne, a well-earned, long, and healthy retirement. Plans are underway to appoint a successor and establish interim arrangements. ## **Reserves Policy** The PCC’s policy is to carry unrestricted reserves that would enable the Church to continue should unforeseen circumstances arise. It considers that an amount equal to somewhere between three and six months’ expenditure to be appropriate (Ordinarily between £42k and £84k). At the year end, the balance of free reserves was £59,607 which represents just over five months’ budgeted General Fund expenditure for 2021. The PCC continue to explore ways to maintain free reserves at an appropriate level. ## **Grant Making Policy** The PCC has a policy of making grant donations to its Mission Partners. These are selected by the PCC for a three-year period, following an application process with clear selection criteria. A 10% tithe of General Fund gift income is shared between the Mission Partners each year. 3 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **TRUSTEES’ ANNUAL REPORT** ## **YEAR ENDED 31 DECEMBER 2020** ## **Statement of Responsibilities of PCC Members/Trustees** 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: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material 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 charity will continue in business. 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 Trustees on 11 May 2021 and signed on their behalf by: …………………………….. Rev. Paul Peterson, PCC chair 4 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **REFERENCE & ADMINISTRATIVE INFORMATION** ## **YEAR ENDED 31 DECEMBER 2020** ## **Charity registration number** 1131689 ## **Principal office** Parish office 57 North Street Downend Bristol BS16 5SG ## **Trustees who served at any time during the year were:** **Clergy (Ex-officio)** Rev. Jonathan Vickery Incumbent Vicar Rev. Paul Peterson Associate Minister and Chair Rev. Chris Dobson Assistant Minister Rev. Aidan Watson Curate **Church Wardens** Maggie Nichols Bryan Ashton **Deanery Synod Representatives** Roger Cholmondeley Andrew Smith Richard Ward **Elected Members** Bryan Ashton Maggie Nichols Julian Cox Laura Powell Debra Turpin Until September 2020 David Owens Sally Green Eloise Phillips Rosie Brydon From November 2020 Richard Hawkes Until September 2020 **Officers to the PCC – non-voting** Caroline Plummer Clerk to the PCC Jamie Paddon Honorary Treasurer The Trustees have devolved the governance of its financial matters to the “Giving 4 Life” Team (G4L). This comprises the following members, who report back to the Trustees their recommendations: Jamie Paddon Chair and Honorary Treasurer Sally Coates Bookkeeper David Tooby Hon. Planned Giving Secretary Rev. Paul Peterson Sally Bartram Until September 2020 Debra Turpin David Green Simbarashe Muzarurwi From October 2020 5 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **REFERENCE & ADMINISTRATIVE INFORMATION** ## **YEAR ENDED 31 DECEMBER 2020** ## **Elections** Church Wardens may stand for up to six years and are elected each year at the appropriate Meeting of Parishioners which precedes the Annual Parochial Church Meeting, (APCM). Deanery Synod elections are held at the APCM every three years, (the next in 2021). Elected PCC Members stand for three years and may stand for re-election at the annual APCM for a further three years. The Diocese provides some training and advice, (in the form of booklets, which are given to any new PCC member, and also in the form of web site information, and ad hoc training sessions during the year). All PCC Members are subjected to DBS checks in line with our Safeguarding Policy. Trustees are also encouraged to visit the appropriate section of the Charity Commission’s web site. ## **Independent Examiner:** Joshua Kingston BSc., ACA Burton Sweet Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR ## **Bankers:** Lloyds Bank plc 697 Fishponds Road, Fishponds Bristol. CCLA Investment Management Ltd Deposit Fund The CBF Church of England Funds 80 Cheapside London EC2V 6DZ 6 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL** ## **INDEPENDENT EXAMINER’S REPORT** ## **YEAR ENDED 31 DECEMBER 2020** I report to the trustees on my examination of the accounts of Christ Church, Downend (the Charity) for the year ended 31 December 2020. ## **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 a 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 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. Joshua Kingston BSc., ACA Burton Sweet Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR Date: ………………………….. 7 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **YEAR ENDED 31 DECEMBER 2020** |**Note**
**Income from:**
Donations and legacies
**2**
Charitable activities
**3**
Raising funds
Investment income - interest received
Other income - including insurance refund
**Total income**
**Expenditure on:**
Charitable activities
**4**
**Total expenditure**
**Net income/(expenditure) before**
**transfers**
**Transfers between funds**
**11**
**Net movement in funds**
**Reconciliation of funds:**
**Total funds at start of year**
**Total funds at 31 December**
**11**|**Unrestricted**
**Funds**
**£**
227,374
3,154
145
-
1,294|**Designated**
**Funds**
**£**
18,853
13,575
35
67
447|**Restricted**
**Funds**
**£**
118,452
241
-
74
205|**Total Funds**
**2020**
**£**
364,679
16,970
180
141
1,946|Total Funds
2019
£
331,651
43,602
6,058
290
19,150| |---|---|---|---|---|---| ||231,967|32,977|118,972|383,916|400,751| ||86,562|96,810|119,454|302,826|321,349| ||86,562|96,810|119,454|302,826|321,349| ||145,405
(117,789)|(63,833)
122,705|(482)
(4,916)|81,090
-|79,402
-| ||27,616
31,991|58,872
1,271,935|(5,398)
64,804|81,090
1,368,730|79,402
1,289,328| ||59,607|1,330,807|59,406|1,449,820|1,368,730| 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 10 to 20 form part of these financial statements** ## **Comparative fund movements are shown in note 7** 8 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **BALANCE SHEET** ## **AS AT 31 DECEMBER 2020** |**Note**
**Fixed assets**
Property
**8**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors : Amounts falling due**
**within one year**
**10**
Net Current Assets
**Creditors : Amounts falling due**
**after more than one year**
**10**
**Net assets**
**Funds**
Unrestricted
**11**
Designated
**11**
Restricted
**11**|**2020**
**£**
1,580,807
1,580,807
6,359
134,422
140,781
(51,768)
89,013
(220,000)
1,449,820
59,607
1,330,807
59,406
1,449,820|2019
£
1,620,525| |---|---|---| |||1,620,525| |||8,930
165,405| |||174,335
(86,130)| |||88,205
(340,000)| |||1,368,730| |||31,991
1,271,935
64,804| |||1,368,730| These financial statements were approved by the Parochial Church Council on …....................... and are signed on its behalf by: Rev. Paul Peterson, PCC chair **The notes on pages 10 to 20 form part of these financial statements** 9 **THE PCC OF CHRIST CHURCH, DOWNEND** **NOTES TO THE FINANCIAL STATEMENTS** **YEAR ENDED 31 DECEMBER 2020** - **1 Accounting policies** The financial statements have been prepared in accordance with applicable accounting standards and the current Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland (FRS102), and the Financial Reporting Standard applicable in the UK and Ireland (FRS102) and the Charities Act 2011. The trustees consider that there are no material uncertainties about the Church's ability to continue as a going concern. Please refer to the trustees' consideration of the effect of the covid-19 pandemic on going concern. The PCC constitutes a public benefit entity as defined by FRS102. ## **Funds** General funds represent the funds of the church that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Unrestricted funds includes funds designated for a particular purpose by the PCC. Restricted funds are those derived from gifts which are restricted to a particular purpose. The accounts include transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church groups that owe an affiliation to another body nor those that are informal gatherings of church members. ## **Income** All income is recognised once the PCC has entitlement to the income, there is sufficient certainty of receipt and it is therefore probable that the income will be received, and the amount of income can be measured reliably. ## _**Income from gifts.**_ Planned giving receivable by standing order is recognised when received. Collections are recognised when received by or on behalf of the PCC. Gift aid is accrued on donations when there is a valid declaration from the donor, and accounted for in the year to which the giving relates. Any Gift Aid amount recovered on a donation is treated as an addition to the same fund as the initial donation unless the donor or terms of the appeal have stated otherwise. ## _**Grants**_ Grants to the PCC are included in the SoFA when the PCC becomes entitled to the income, it is probable that the income will be received, and the amount can be measured reliably. ## _**Legacy income**_ Legacy income is recognised when receipt is probable, that is, when there has been grant of probate, the executors have established there are sufficient net assets to pay the legacy, and any conditions attached have been met or are in the control of the church. ## _**Donated goods, facilities and services**_ Donated goods, facilities and services are recognised as income with an equivalent amount recognised as an expense, except for the contribution of volunteers which it is considered impractical to reliably measure for accounting purposes. The donated goods, facilities and services are recognised on the basis of the value of the gift to the PCC which is the amount that the PCC would have been willing to pay to obtain such services or facilities of equivalent economic benefit on the open market. ## _**Interest receivable**_ This is included in the accounts upon notification of the interest by the Bank. 10 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** - **1 Accounting policies** _**(continued)**_ ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the PCC to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. ## _**Diocesan parish share**_ The Diocesan parish share is accounted for in accordance with the agreed intention of the PCC. ## _**Governance**_ Governance costs represent the expenditure related to statutory requirements such as audit or independent examination and legal advice. They have been included within support costs relating to charitable activities. ## **Fixed Assets** ## _**Consecrated land and buildings and moveable church furnishings**_ The PCC does not own and hold the church and vicarage. Legal custodianship of the church and vicarage lies with the diocesan authorities and the incumbent. Day to day custodianship is controlled by the incumbent and churchwardens. The churchwardens also have custodianship of the moveable items within the church on behalf of the people of the parish. The PCC supports the incumbent in the day to day care of the people of the parish. Expenditure incurred during the year on consecrated or beneficed buildings and moveable church fittings, whether maintenance or an improvement is normally written off as expenditure in the SOFA and is separately disclosed. Major new capital items are capitalised and depreciated over the greater of their estimated useful working lives. ## _**Other fixtures, fittings and office equipment**_ These are included in within expenditure in the Statement of Financial Activities in the year in which they are purchased and depreciated as follows: Building improvements over 50 years on a straight line basis Furniture and fittings over 5 years on a straight line basis ## _**Current assets**_ Amounts owing to the PCC at 31 December in respect of fees, rents or other income are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the PCC. Subsequently, they are measured at the level of cash or other consideration expected to be received. ## _**Cash at bank and in hand**_ Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## _**Creditors and provisions**_ Creditors and provisions are recognised when the PCC has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Liabilities are measured on recognition at their historical cost and then subsequently at the best estimate of the amount required to settle the obligation at the reporting date. ## _**Pension scheme**_ The PCC participates in the Pension Builder Scheme section of the Church Worker's Pension Fund for lay staff. The scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Employer and the other participating employers. The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014. The scheme is made up of two sections, Pension Builder Classic and Pension Builder 2014, both of which are classified as defined benefit schemes. 11 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** - **1 Accounting policies** _**(continued)**_ ## _**Pension scheme (continued)**_ Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members' Normal Pension Age. There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the Statement of Financial Activities in the year are the contributions payable of £2,801 (2019: £2,876). A valuation of the scheme is carried out once every three years. The most recent scheme valuation completed was carried out as at 31 December 2016. A valuation as at 31 December 2019 was under way as at 31 December 2020. For the Pension Builder Classic section, the valuation revealed a deficit of £14.2m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time. For the Pension Builder 2014 section, the valuation revealed a surplus of £1.8m on the ongoing assumptions used. There is no requirement for deficit payments at the current time. The legal structure of the scheme is such that if another employer fails, the charity could become responsible for paying a share of that employer's pension liabilities. ## **2 Donations and legacies** |_Planned Giving:_
Donations
Income tax recovered (gift aid)
Collections (open plate) at all services
Donations
Legacies
_Grants:_
Grants received
**Prior year comparatives**
_Planned Giving:_
Donations
Income tax recovered (gift aid)
Collections (open plate) at all services
Donations
Legacies
Grants:
Grants received|**Unrestricted**
**Funds**
**£**
148,613
39,804
2,113
35,844
-
1,000|**Designated**
**Funds**
**£**
5,336
1,276
-
1,090
-
11,151|**Restricted**
**Funds**
**£**
12,974
5,097
-
11,271
66,583
22,527|**Total Funds**
**2020**
**£**
166,923
46,177
2,113
48,205
66,583
34,678| |---|---|---|---|---| ||227,374|18,853|118,452|364,679| ||**Unrestricted**
**Funds**
**£**
144,303
35,032
10,423
2,347
-
-|**Designated**
**Funds**
**£**
8,734
750
-
200
-
6,547|**Restricted**
**Funds**
**£**
24,138
6,063
-
19,870
7,500
65,744|**Total Funds**
**2019**
**£**
177,175
41,845
10,423
22,417
7,500
72,291| ||192,105|16,231|123,315|331,651| 12 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** ## **3 Charitable activities** |Lettings
Wedding and funeral services
**Prior year comparatives**
Lettings
Wedding and funeral services
**4 Charitable activities**|**Unrestricted**
**Funds**
**£**
1,218
1,936|**Designated**
**Funds**
**£**
11,741
1,834|**Restricted**
**Funds**
**£**
-
241|**Total Funds**
**2020**
**£**
12,959
4,011| |---|---|---|---|---| ||3,154|13,575|241|16,970| ||**Unrestricted**
**Funds**
**£**
3,620
2,426|**Designated**
**Funds**
**£**
34,477
2,731|**Restricted**
**Funds**
**£**
-
348|**Total Funds**
**2019**
**£**
38,097
5,505| ||6,046|37,208|348|43,602| |||||| |Direct costs
Gathered church
Children's and youth ministry
Discipleship and pastoral care
Local and overseas mission
Parish share
Support costs
**Prior year comparatives**
Direct costs
Gathered church
Children's and youth ministry
Discipleship and pastoral care
Local and overseas mission
Parish share
Support costs|**Unrestricted**
**Funds**
**£**
-
-
-
-
37,500
49,062|**Designated**
**Funds**
**£**
2,898
14,859
9,048
48
-
69,957|**Restricted**
**Funds**
**£**
260
-
-
44,567
37,500
37,127|**Total Funds**
**2020**
**£**
3,158
14,859
9,048
44,615
75,000
156,146| |---|---|---|---|---| ||86,562|96,810|119,454|302,826| ||**Unrestricted**
**Funds**
**£**
-
-
-
235
90,000
51,458|**Designated**
**Funds**
**£**
5,102
23,139
11,882
484
-
73,763|**Restricted**
**Funds**
**£**
16,411
343
-
47,138
-
1,394|**Total Funds**
**2019**
**£**
21,513
23,482
11,882
47,857
90,000
126,615| ||141,693|114,370|65,286|321,349| 13 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** ## **5 Staff costs** |**Staff costs**||| |---|---|---| |Salaries
Employer's National Insurance contributions
Pension contributions|**2020**
£
61,823
1,821
2,801|2019
£
77,641
1,716
2,876| ||66,445|82,233| No employee earned more than £60,000 during the year (2019:none) During 2020, the average number of staff employed was 7 (2019: 9). The charity considers the key management personnel to be the PCC members and senior ministry team. The total amount of salaries and benefits received by PCC members and senior ministry team during the year was £33,460 for nontrustee roles within the church. (2019: £25,610). ## **6 Related party transactions** Mrs A Dobson, wife of Rev C Dobson, trustee, was paid £10,325 (2019: £10,192) during the year and the PCC made pension contributions on her behalf of £459 (2019: £457) for her role as Ministry Head for discipleship, and was reimbursed expenses of £428 (2019: £479). Mrs M Nichols (Church Warden) was paid £3,766 (2019:£4,252) during the year for her role as Assistant to the Parish Administrator, and was reimbursed expenses of £0 (2019: £601), in accordance with S7A of the Parochial Church Councils (Powers) Measure 1956. Mrs Miranda Mingay (Clerk to PCC until April 2019) was paid £Nil (2019: £6,721) during 2019 for her role as Parish Administration Assistant, and was reimbursed expenses of £41 during this period. During the year, donations from trustees and related parties were £29,158 (2019: £78,547). This included £200 (2019: £7,080) to the B4L restricted fund, £2,670 (2019: £2,325) to the CAP restricted fund, and £1,040 (2019: £320) to the Mission restricted fund. During the year, no Trustee received reimbursement of any expenses incurred in carrying out their duties as a Trustee. 14 **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** ## **7 Comparative fund movements** |**Income from:**
Donations and legacies
Charitable activities
Raising funds
Investment income - interest received
Other income - insurance refund
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net income/(expenditure) before**
**transfers**
**Transfers between funds**
**Net movement in funds**
**Reconciliation of funds:**
**Total funds at start of year**
**Total funds at 31 December**
**8**
**Tangible fixed assets**
**Cost**
At 1 January 2020
Costs incurred
Disposal of property
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for the year
At 31 December 2020
**Net book value**
At 31 December 2020
At 31 December 2019|**Unrestricted**
**Funds**
**£**
192,105
6,046
-
-
354|**Designated**
**Funds**
**£**
16,231
37,208
3,307
99
2,947|**Restricted**
**Funds**
**£**
123,315
348
2,751
191
15,849|**Total Funds**
**2019**
**£**
331,651
43,602
6,058
290
19,150| |---|---|---|---|---| ||198,505|59,792|142,454|400,751| ||141,693|114,370|65,286|321,349| ||141,693|114,370|65,286|321,349| ||56,812
(53,302)|(54,578)
115,432|77,168
(62,130)|79,402
-| ||3,510
28,481|60,854
1,211,081|15,038
49,766|79,402
1,289,328| ||31,991|1,271,935|64,804|1,368,730| ||**£**
1,634,454
-
-
1,634,454
40,290
32,689
72,979
1,561,475
1,594,164
**Church building**
**improvements**||**£**
35,147
-
-
**Furniture &**
**fixtures**|**Total**
**£**
1,669,601
-
-| |||1,634,454|35,147|1,669,601| |||40,290
32,689|8,786
7,029|49,076
39,718| |||72,979|15,815|88,794| |||1,561,475|19,332|1,580,807| |||1,594,164|26,361|1,620,525| 15 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** ## **9 Debtors** |**Debtors**||| |---|---|---| |Trade debtors
Other debtors
**Creditors**
**Amounts falling due within one year**
Trade creditors
Grants due to mission partners
Other creditors and accruals
Loans
**Amounts falling due after more than one year**
Loans for Building project|**2020**
**£**
2,722
3,637|2019
£
6,105
2,825| ||6,359|8,930| ||**2020**
**£**
56
14,752
6,960
30,000|2019
£
2,148
15,852
20,130
48,000| ||51,768|86,130| ||220,000|340,000| ## **10 Creditors** 16 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** |**11**
**Movement in funds**
Unrestricted funds:
General Fund
Designated funds:
Building Improvements fund
Asset Management Plan - Church fund
Christ Church Parish Hall AMP fund
Christ Church Hall General fund
Church Centre Quakers Road - AMP fund
Church Centre Quakers Road General fund
Childrens' ministry fund
Creative Media - Communications fund
Discretionary fund
Evangelism fund
Fellowship fund
Organ fund
Youth hub running costs
Discipleship for all ages
Leadership development fund
Open church fund
Worship fund
Youth ministry fund
Governance fund
Total designated funds
Restricted funds
Building 4 Life - Church redevelopment
Chaplaincy
Children's Ministry - Downend Soup
Christians Against Poverty fund
Flower fund
Mission -Global fund
Open Church fund
Parish Weekend Away fund
Legacies fund
Youth ministry fund
Total restricted funds
**Total funds**|**At**
**1 January**
**2020**
**£**
31,991|**Income**
**£**
231,967|**Expenditure**
**£**
(86,562)|**Transfers**
**£**
(117,789)|**At**
**31 December**
**2020**
**£**
59,607| |---|---|---|---|---|---| ||1,232,574
5,885
3,775
2,051
20,158
2,267
-
-
348
-
1,063
1,205
-
-
-
1,198
-
1,411
-|-
1,435
-
5,808
-
6,038
8,513
-
310
-
221
206
108
224
-
510
-
9,604
-|(39,718)
(5,375)
(4,184)
(10,622)
(449)
(4,841)
(9,604)
(1,338)
(294)
(48)
(228)
-
(2,468)
(9,048)
(55)
(388)
(595)
(5,255)
(2,300)|137,951
(1,945)
409
2,763
(19,709)
(3,464)
1,091
1,338
(364)
48
(1,056)
(1,411)
2,360
8,824
55
(1,320)
595
(5,760)
2,300|1,330,807
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-| ||1,271,935
52,956
221
134
10,847
479
-
-
167
-
-|32,977
15,896
-
500
32,493
206
5,506
-
-
64,371
-|(96,810)
(37,127)
-
-
(25,066)
(260)
(19,501)
-
-
(37,500)
-|122,705
(30,686)
-
-
4,865
-
14,025
1,320
-
-
5,560|1,330,807
1,039
221
634
23,139
425
30
1,320
167
26,871
5,560| ||64,804
1,368,730|118,972
383,916|(119,454)
(302,826)|(4,916)
-|59,406
1,449,820| During the year, the trustees reconsidered the treatment of designated funds, and decided that the majority, apart from the Building Improvements fund should be reclassified. Therefore, the youth Ministry fund and Children's Ministry fund were reclassified as restricted funds, and the remaining funds transferred to General Funds. This was because the Youth and Children's Ministry and Open Church funds included donations made specifically for these activities, and the remaining designated funds consisted of amounts received by the church for general ministry purposes. Transfers of £30,686 were made from the Building 4 Life Restricted fund to General funds to recognise the repayment of loans for the project repaid from general funds. 17 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** |**11**
**Movement in funds -****_continued_**
**Prior Year Comparatives**
Unrestricted funds:
General Fund
Designated funds:
Building improvements fund
Asset Management Plan - Church fund
Christ Church Parish Hall AMP fund
Christ Church Hall General fund
Church Centre Quakers Road - AMP fund
Church Centre Quakers Road General fund
Creative Media - Communications fund
Discretionary fund
Evangelism fund
Fellowship fund
Organ fund
Youth ministry fund
Youth hub running costs
Discipleship for all ages
Leadership development fund
Open church fund
Worship fund
Governance fund
Childrens' ministry fund
Total designated funds
Restricted funds
Building 4 Life - Church redevelopment
Chaplaincy
Children's Ministry - Downend Soup
Christians Against Poverty fund
Creative Arts
Fellowship fund
Flower fund
Mission -Global fund
Parish Weekend Away fund
Total restricted funds
**Total funds**|**At**
**1 January**
**2019**
**£**
28,481|**Income**
**£**
198,505|**Expenditure**
**£**
(141,693)|**Transfers**
**£**
(53,302)|**At**
**31 December**
**2019**
**£**
31,991| |---|---|---|---|---|---| ||1,183,625
2,378
-
3,164
11,472
4,255
-
-
-
787
1,557
2,827
-
-
-
1,016
-
-
-|-
2,084
1,300
16,273
-
18,295
-
348
10
944
333
7,876
280
683
-
1,916
310
-
9,140|(39,426)
(120)
(2,481)
(17,509)
(414)
(7,184)
(1,409)
-
(484)
(468)
(685)
(10,292)
(2,766)
(11,882)
(367)
(135)
(2,724)
(3,180)
(12,845)|88,375
1,543
4,956
123
9,100
(13,100)
1,409
-
474
(200)
-
1,000
2,486
11,199
367
(1,599)
2,414
3,180
3,705|1,232,574
5,885
3,775
2,051
20,158
2,267
-
348
-
1,063
1,205
1,411
-
-
-
1,198
-
-
-| ||1,211,081
47,325
294
477
1,102
70
-
407
-
91|59,792
85,382
-
-
27,586
-
14,545
1,173
13,193
575|(114,370)
(1,394)
(73)
(343)
(20,311)
(70)
(14,445)
(1,101)
(26,754)
(795)|115,432
(78,357)
-
-
2,470
-
(100)
-
13,561
296|1,271,935
52,956
221
134
10,847
-
-
479
-
167| ||49,766
1,289,328|142,454
400,751|(65,286)
(321,349)|(62,130)
-|64,804
1,368,730| 18 **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020** ## **THE PCC OF CHRIST CHURCH, DOWNEND** - **11 Movement in funds -** _**continued**_ ## **Unrestricted funds** **General fund -** Funds to support general running costs of the church, including office and administration, church building running costs and the Diocesan Parish Share contribution. ## **Designated funds** **Building Improvements fund -** Capitilised building life expenses less depreciation **Asset Management Plan funds** - the church sets aside funds each year to pay for repairs and renewals for the church buildings. Separate AMP funds are maintained for the Church, Christ Church Hall and Quakers Road Hall. **Christ Church and Quakers Road Halls and Youth Hub** - these designated funds are for the day to day activities and running costs of these halls. **Creative Media - Communications fund** - these funds have been set aside to support all publicity and communications on behalf of the church **Discretionary fund** - funds to be distributed by the clergy in response to needs within the parish **Evangelism fund** - to support evangelism work within the parish **Fellowship fund** - funds to support the fellowship group **Organ fund** - funds to maintain the organ **Discipleship for all ages fund** - funds set aside to support the church's discipleship activities **Leadership fund** - funds to support leadership development within the church **Open church fund** - funds to support the Open church ministry **Worship fund** - funds set aside to support worship **Governance fund** - funds set aside to cover governance costs **Wholeness fund** - funds to support pastoral care and wholeness activities ## **Restricted funds** **Building 4 Life** - donations received for the church redevelopment project **Chaplaincy** - funds received towards the pastoral care and wholeness ministry of the church **Children's Ministry -** Funds to support the "Downend Soup" project **Childrens' Ministry fund** - funds to support children's ministry within the church **Christians Against Poverty fund** - funds received for the work of the CAP centre in the parish **Creative Media - Communications fund** - funds received to support all publicity and communications on behalf of the church **Fellowship fund** - funds received for fellowship group activities **Flower fund** - donations received to purchase flowers in memory of loved ones **Gifts fund** - small gifts received to support specific aspects of church life **Mission - global fund** - funds received to support the church's mission partners **Parish Weekend Away fund** - surplus funds from previous weekends, available for future weekends away **Worship fund** - funds donated specifically to support worship **Youth ministry fund** - funds set aside to support the church's youth ministry work ## **12 Analysis of net assets between funds - current year** |Unrestricted funds
Restricted funds|**Fixed assets**
1,580,807
-|**Other net**
**assets**
**£**
29,607
59,406|**Creditors**
**due in more**
**than one**
**year**
**£**
(220,000)
-|**Total 2020**
**£**
1,390,414
59,406| |---|---|---|---|---| ||1,580,807|89,013|(220,000)|1,449,820| 19 ## **THE PCC OF CHRIST CHURCH, DOWNEND** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31 DECEMBER 2020** ## **12 Analysis of net assets between funds** _**- continued**_ **Prior year** |**Analysis of net assets between funds****_- continued_**
**Prior year**||||| |---|---|---|---|---| |Unrestricted funds
Restricted funds|**Fixed assets**
**£**
1,620,525
-|**Other net**
**assets**
**£**
23,401
64,804|**Creditors**
**due in more**
**than one**
**year**
**£**
(340,000)
-|**Total 2019**
**£**
1,303,926
64,804| ||1,620,525|88,205|(340,000)|1,368,730| 20