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2021-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL ANNUAL REPORT & FINANCIAL STATEMENTS 31 DECEMBER 2021

Charity Number 1131689

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL

ANNUAL REPORT & FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

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 2021

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 £25,200. 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:

1

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2021

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 £1,451k, and the Statement of Financial Activities (SOFA) records income of almost £281k for the year. However, it should be noted that £41k of the assets are held in “restricted funds”, and that £49.6k of the income received was for restricted funds.

Most of the money tied up in restricted funds relate to the CAP (Christians Against Poverty) Centre we run and other mission funds. A summary of key Fund movements is given below:

Unrestricted General Fund:

The PCC approved a surplus General Fund budget for 2021 of £15,819, inclusive of fund movements. However, despite the uncertainties caused by Covid-19, income held up well due to the incredible generosity of our congregation. Expenditure was around £5k below budget and, due to part of the parish share contribution being funded from a legacy, we were able to repay an additional £20k towards the £141,500 outstanding from the loans taken out to fund the Church Building for Life (B4L) refurbishment project completed in 2019. The General Fund balance closed at £79,925.

Designated Funds:

Restricted Funds:

2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2021

The Outlook for 2022 and beyond

The PCC has approved a surplus budget for the General Fund amounting to £4,149. The budget includes provision to repay £18,500 towards the remaining balance of £141,500 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. It also includes repayment of £5k capital relating to the remaining £70,000 interest-bearing loan from the Diocese. In early 2022 the G4L team plan to assess how best to utilise surpluses from the 2020 and 2021 years 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.

Following the Rev. Jonathan Vickery’s retirement from the post of Incumbent Vicar in July 2021 Christ Church Downend has commenced the search for his replacement and expect an appointment to be in post in late 2022.

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. At the year end, the balance of free reserves was a negative balance of £131,576. (2020: negative £190,393). The church has just completed a large building project and the trustees are working towards repaying the loans received to enable the project to be completed.

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.

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:

3

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2021

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 4[th] May 2022 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 2021

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, retired June 2021 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 Until May 2021 Richard Ward Elected Members Julian Cox Laura Powell David Owens Until May 2021 Andrew Pound From May 2021 Adam Parfitt From May 2021 Sally Green Eloise Phillips Rosie Brydon

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 Debra Turpin David Green Simbarashe Muzarurwi To January 2021 Adam Parfitt From May 2021

5

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL

REFERENCE & ADMINISTRATIVE INFORMATION

YEAR ENDED 31 DECEMBER 2021

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 2023). 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 Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Bankers:

Lloyds Bank plc 20 Badminton Road Downend Bristol BS16 6BW

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 2021

I report to the trustees on my examination of the accounts of Christ Church, Downend (the Charity) for the year ended 31 December 2021.

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 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 Limited Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 4[th] May 2022

7

THE PCC OF CHRIST CHURCH, DOWNEND

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2021

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
11
Total funds at 31 December
11		 Unrestricted
Funds
£
204,533
26,842
157
18
688		 Designated
Funds
£
-
-
-
-
-		 Restricted
Funds
£
49,288
30
-
-
296		 Total Funds
2021
£
253,821
26,872
157
18
984		 Total Funds
2020
£
364,679
16,970
180
141
1,946
232,238 - 49,614 281,852 383,916
156,919 39,719 83,840 280,478 302,826
156,919 39,719 83,840 280,478 302,826
75,319
(55,001)		 (39,719)
38,500		 (34,226)
16,501		 1,374
-		 81,090
-
20,318
59,607		 (1,219)
1,330,807		 (17,725)
59,406		 1,374
1,449,820		 81,090
1,368,730
79,925 1,329,588 41,681 1,451,194 1,449,820

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 2021

Note
Fixed assets
Tangible fixed assets
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
12
Designated
12
Restricted
12		 2021
£
1,541,089
1,541,089
4,404
139,212
143,616
(52,011)
91,605
(181,500)
1,451,194
79,925
1,329,588
41,681
1,451,194		 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

These financial statements were approved by the Parochial Church Council on 4th May 2022 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 2021

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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 2021

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

NOTES TO THE FINANCIAL STATEMENTS

THE PCC OF CHRIST CHURCH, DOWNEND

YEAR ENDED 31 DECEMBER 2021

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. Discretionary bonuses may be added by the Board before retirement. The account, plus any bonuses declared, is payable, unreduced 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 £2,340 (2020: £2,801).

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 2019. For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 3%, following improvements in the funding position over 2021. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m 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
£
150,438
35,485
6,865
9,745
-
2,000		 Designated
Funds
£
-
-
-
-
-
-		 Restricted
Funds
£
16,766
4,773
98
13,685
5,000
8,966		 Total Funds
2021
£
167,204
40,258
6,963
23,430
5,000
10,966
204,533 - 49,288 253,821
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

Donations received from trustees and other related parties during the year were £21,315 (2020: £27,722).

12

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

3 Charitable activities

Lettings
Wedding and funeral services
Prior year comparatives
Lettings
Wedding and funeral services
4 Charitable activities
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
£
23,523
3,319		 Designated
Funds
£
-
-		 Restricted
Funds
£
-
30		 Total Funds
2021
£
23,523
3,349
26,842 - 30 26,872
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
£
3,000
-
11,523
177
63,129
79,090		 Designated
Funds
£
-
-
-
-
-
39,719		 Restricted
Funds
£
4,793
10,305
-
41,871
26,871
-		 Total Funds
2021
£
7,793
10,305
11,523
42,048
90,000
118,809
156,919 39,719 83,840 280,478
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

13

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

5 Staff costs

Staff costs
Salaries
Employer's National Insurance contributions
Pension contributions		 2021
£
57,455
1,496
2,340		 2020
£
61,823
1,821
2,801
61,291 66,445

No employee earned more than £60,000 during the year (2020:none)

During 2021, the average number of staff employed was 7 (2020: 7).

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 members during the year was £25,200 for non-trustee roles within the church. (2020: £33,460).

6 Related party transactions

Mrs A Dobson, wife of Rev C Dobson, trustee, was paid £11,130 (2020: £10,325) during the year and the PCC made pension contributions on her behalf of £469 (2020: £459) for her role as Ministry Head for discipleship, and was reimbursed expenses of £798 (2020: £428).

Mrs M Nichols (Church Warden) was paid £3,807 (2020:£3,766) during the year for her role as Assistant to the Parish Administrator, and was reimbursed expenses of £612 (2020: £0), in accordance with S7A of the Parochial Church Councils (Powers) Measure 1956.

Mrs R Brydon, a PCC member, was paid £6,146 and the PCC made pension contributions of £322 for her role as CAP Centre manager. She was also reimbursed expenses of £5,688, in accordance with S7A of the Parochial Church Councils (Powers) Measure 1956.

During the year, donations from trustees and related parties were £21,315 (2020: £29,158). No Trustee received reimbursement of any expenses incurred in carrying out their duties as a Trustee during either the current, or preceding year.

14

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

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 and 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 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
231,967 32,977 118,972 383,916
86,562 96,810 119,454 302,826
86,562 96,810 119,454 302,826
145,405
(117,789)		 (63,833)
122,705		 (482)
(4,916)		 81,090
-
27,616
31,991		 58,872
1,271,935		 (5,398)
64,804		 81,090
1,368,730
59,607 1,330,807 59,406 1,449,820
£
1,634,454
72,979
32,689
105,668
1,528,786
1,561,475
Church building
improvements		 £
35,147
Furniture &
fixtures		 Total
£
1,669,601
72,979
32,689		 15,815
7,029		 88,794
39,718
105,668 22,844 128,512
1,528,786 12,303 1,541,089
1,561,475 19,332 1,580,807

15

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

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		 2021
£
3,962
442		 2020
£
2,722
3,637
4,404 6,359
2021
£
1,445
10,695
9,871
30,000		 2020
£
56
14,752
6,960
30,000
52,011 51,768
181,500 220,000

10 Creditors

16

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

11 Movement in funds

Unrestricted funds:
General Fund
Designated funds:
Building Improvements fund
Total unrestricted funds
Restricted funds
Building 4 Life - Church redevelopment
Chaplaincy
Children's worker funding
Children's Ministry - Downend Soup
Christians Against Poverty fund
Flower fund
Special gifts fund
Mission -Global fund
Open Church fund
Parish Weekend Away fund
Legacies fund
Youth ministry fund
Total restricted funds
Total funds		 At
1 January
2021
£
59,607		 Income
£
232,238		 Expenditure
£
(156,919)		 Transfers
£
(55,001)		 At
31 December
2021
£
79,925
1,330,807 - (39,719) 38,500 1,329,588
1,390,414
1,039
221
-
634
23,139
425
-
30
1,320
167
26,871
5,560		 232,238
1,991
-
7,400
-
24,878
514
4,330
5,816
22
-
-
4,663		 (196,638)
-
-
(553)
-
(23,175)
(463)
(4,330)
(18,696)
-
-
(26,871)
(9,752)		 (16,501)
-
-
-
-
3,589
-
-
12,912
-
-
-
-		 1,409,513
3,030
221
6,847
634
28,431
476
-
62
1,342
167
-
471
59,406
1,449,820		 49,614
281,852		 (83,840)
(280,478)		 16,501
-		 41,681
1,451,194

During the prior 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 £38,500 were made from the Building Improvements Designated 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 2021

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
Flower fund
Legacies fund
Mission -Global fund
Open Church fund
Parish Weekend Away fund
Youth ministry fund
Total restricted funds
Total funds		 At
1 January
2020
£
31,991		 Income
£
231,967		 Expenditure
£
(86,562)		 Transfers
£
(117,789)
137,951
(1,945)
409
2,763
(19,709)
(3,464)
1,338
(364)
48
(1,056)
(1,411)
(5,760)
2,360
8,824
55
(1,320)
595
2,300
1,091
122,705
(30,686)
-
-
4,865
-
-
14,025
1,320
-
5,560		 At
31 December
2020
£
59,607
1,232,574
5,885
3,775
2,051
20,158
2,267
-
348
-
1,063
1,205
1,411
-
-
-
1,198
-
-
-		 -
1,435
-
5,808
-
6,038
-
310
-
221
206
9,604
108
224
-
510
-
-
8,513		 (39,718)
(5,375)
(4,184)
(10,622)
(449)
(4,841)
(1,338)
(294)
(48)
(228)
-
(5,255)
(2,468)
(9,048)
(55)
(388)
(595)
(2,300)
(9,604)		 1,330,807
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,271,935
52,956
221
134
10,847
479
-
-
-
167
-		 32,977
15,896
-
500
32,493
206
64,371
5,506
-
-
-		 (96,810)
(37,127)
-
-
(25,066)
(260)
(37,500)
(19,501)
-
-
-		 1,330,807
1,039
221
634
23,139
425
26,871
30
1,320
167
5,560
64,804
1,368,730		 118,972
383,916		 (119,454)
(302,826)		 (4,916)
-		 59,406
1,449,820

During the prior 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.

18

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

THE PCC OF CHRIST CHURCH, DOWNEND

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
1,541,089
-		 Other net
assets
£
49,924
41,681		 Creditors
due in more
than one
year
£
(181,500)
-		 Total 2021
£
1,409,513
41,681
1,541,089 91,605 (181,500) 1,451,194

19

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

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
£
1,580,807
-		 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

20