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← The Parochial Church Council Of The Ecclesiastical Parish Of Christ Church, Downend, Bristol

2023-12-31-accounts

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

DRAFT

ANNUAL REPORT & FINANCIAL STATEMENTS 31 DECEMBER 2023

Charity Number 1131689

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

ANNUAL REPORT & FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

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 - 18

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

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2023

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 £13,963. 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. Under the leadership of our new incumbent, we have begun to explore what it means to go Deeper, Wider and Younger.

The activities of the Church 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. We have been able to fulfil our mission in a variety of ways:

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.

Engagement with youth, children, and families

Our team of staff and volunteers have run a wide variety of groups for children and young people, offering support, nourishment and encouragement. In the past 12 months we have expanded our input into local schools and developed stronger community links.

1

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

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2023

Serving the local community

The ministry of CAP (Christians Against Poverty) continues to provide much needed support to those struggling with issues of debt and our weekly Warm Spaces Cafe is proving to be a significant gathering point in the community, attracting up to 100 people a week.

Our Church building and halls are widely used for services, community groups and church outreach initiatives. This enables us to fulfil our vision to be a place where Christian spirituality flourishes, a sense of Community is built, and Creativity is celebrated.

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, with a team of young people and their leaders visiting the Indian Orphanage over Christmas.

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 net assets of £158k, and the Statement of Financial Activities (SOFA) records an income of £584k for the year. However, it should be noted that £51k of the assets are held in “restricted funds”, £2.8k are held in “designated funds”, with only £104k remaining as “unrestricted” funds.

Most of the money tied up in restricted funds relate to the CAP (Christians Against Poverty) centre we run £37k, and monies specifically set aside to fund the Children’s Worker employment (£11k). The designated funds relate to the Net Book Value of all fixed assets and associated loans, the largest of which relate to the reordering works completed in 2019 at a total cost of circa £1.4m. A summary of key Fund movements is given below:

Unrestricted General Fund:

The PCC approved a break-even General Fund budget for 2023, inclusive of fund movements. Although increased energy prices and other costs exceeded budget, significant legacies received during the year meant all prior year debts associated with the reordering works completed in 2019 were able to be cleared and the fund recorded a surplus of £24k, closing at £104k.

Designated Funds:

2

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

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2023

Restricted Funds:

The Outlook for 2024 and beyond

New Incumbent Vicar, Rev. Dan Watts, joined Christ Church in February 2023.

The PCC has approved a deficit budget for the General Fund of £15k which includes a £30k increase in Parish Share compared to 2023 and a £5k contribution to the Asset Management Plan fund which needed to be built back up again upon completion of the work on the South Tower.

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 £104k which represents just under six and a half months budgeted General Fund expenditure for 2024.

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 2023

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 2 May 2024 and signed on their behalf by:

==> picture [42 x 35] intentionally omitted <==

……………………………..

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 2023

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. Dan Watts Rev. Paul Peterson Rev. Chris Dobson

Incumbent Vicar (From February 2023) Associate Minister and Chair Assistant Minister

Church Wardens Maggie Nichols Bryan Ashton

Deanery Synod Representatives Roger Cholmondeley Richard Ward

Elected Members

Kate Allen` From May 2023 Laura Green From May 2023 Debbie Pastwa From May 2023 Alison Rowe From September 2023 Laura Powell Until May 2023 Julian Cox Andrew Pound Adam Parfitt Until May 2023 Sally Green Richard Bacon Rosie Brydon Until May 2023 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 Gabrielle Foster Bookkeeper Adrian Harding Hon. Planned Giving Secretary Rev. Paul Peterson Debra Turpin David Green Adam Parfitt

5

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

REFERENCE & ADMINISTRATIVE INFORMATION

YEAR ENDED 31 DECEMBER 2023

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 2024). 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 102 Regent Street Kingswood Bristol BS15 8HT

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 2023

I report to the trustees on my examination of the accounts of Christ Church, Downend (the Charity) for the year ended 31 December 2023.

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.

==> picture [119 x 31] intentionally omitted <==

Joshua Kingston BSc., ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: ………………………….. 02 May 2024

7

THE PCC OF CHRIST CHURCH, DOWNEND

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
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
Other recognised gain/(losses)
Derecognition of Church development asset
Net movement in funds
Reconciliation of funds:
Total funds at 1 January
11
Total funds at 31 December
11		 Unrestricted
General
Funds
£
478,105
51,969
189
1,559
2,503
534,325
302,865
302,865
231,460
(207,071)
-
24,389
79,616
104,005		 Designated
Funds
£
-
-
-
-
-
-
38,789
38,789
(38,789)
170,344
(1,463,408)
(1,331,853)
1,334,683
2,830		 Restricted
Funds
£
46,691
-
2,843
-
36
49,570
89,769
89,769
(40,199)
36,727
-
(3,472)
54,839
51,367		 Total Funds
2023
£
524,796
51,969
3,032
1,559
2,539
583,895
431,423
431,423
152,472
-
(1,463,408)
(1,310,936)
1,469,138
158,202		 Total Funds
2022
£
284,596
46,967
1,769
255
1,896
335,483
317,539
317,539
17,944
-
-
17,944
1,451,194
1,469,138

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 18 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 2023

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		 2023
£
2,830
2,830
9,063
198,019
207,082
(51,710)
155,372
-
158,202
104,005
2,830
51,367
158,202		 2022
£
1,502,683
1,502,683
12,330
157,784
170,114
(55,659)
114,455
(148,000)
1,469,138
79,616
1,334,683
54,839
1,469,138

02 May 2024 These financial statements were approved by the Parochial Church Council on …................................. and are signed on its behalf by:

==> picture [42 x 35] intentionally omitted <==

Rev. Paul Peterson, PCC chair

The notes on pages 10 to 18 form part of these financial statements

9

THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and 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.

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.

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 2023

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. At present there are improvements to the church buildings that are capitalised and depreciated, this is due to the presence of associated loans related to the building improvements. Once the loans are paid off, the asset will also be written off. Until then, the asset will remain capitalised.

Other fixtures, fittings and office equipment

These are capitalised in the year in which they are purchased and depreciated as follows:

Building improvements over 50 years on a straight line basis capitalisation value - £1,000 Furniture and fittings over 5 years on a straight line basis capitalisation value - £100 Computer & AV over 3 years on a straight line basis capitalisation value - £100

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

PCC Christ Church Downend 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 CWPF assets separately from those of the Employer and the other participating employers.

CWPF has two sections:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

  3. a. a deferred annuity section known as Pension Builder Classic, and,

  4. b. a cash balance section known as Pension Builder 2014.

11

THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

Pension scheme (continued)

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

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 FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable of £3,527 (2022: £3,032).

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022.

For the Pension Builder 2014, the valuation revealed that it held sufficient assets to cover members' accrued pools ( a £2m surplus). At the most recent annual review, the Board chose not to grant a discretionary bonus following the result of the poor investment return in 2022.

The legal structure of the scheme is such that if another employer fails, the charity could become responsible for paying a share of the failed employer’s pension liabilities.

2 Income from: Donations and legacies

Income from: Donations and legacies
Donations
Income tax recovered (gift aid)
Collections (open plate) at all services
One-off giving
Legacies
Grants received		 Unrestricted
General
Funds
£
149,744
39,580
14,521
14,136
237,201
22,923
478,105		 Designated
Funds
£
-
-
-
-
-
-
-		 Restricted
Funds
£
30,936
3,164
-
8,616
1,000
2,975
46,691		 Total Funds
2023
£
180,680
42,744
14,521
22,752
238,201
25,898
524,796
Prior year comparatives
Donations
Income tax recovered (gift aid)
Collections (open plate) at all services
One-off giving
Legacies
Grants received		 Unrestricted
General
Funds
£
142,994
35,238
11,340
5,909
27,832
3,799
227,112		 Designated
Funds
£
-
-
-
-
-
-
-		 Restricted
Funds
£
18,974
6,959
373
23,836
-
7,342
57,484		 Total Funds
2022
£
161,968
42,197
11,713
29,745
27,832
11,141
284,596

12

THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

3 Income from: Charitable activities

Lettings
Wedding and funeral services
Book sale
Prior year comparatives
Lettings
Wedding and funeral services
Expenditure on: 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
General
Funds
£
48,090
3,781
98
51,969
Unrestricted
General
Funds
£
42,869
4,098
46,967
Unrestricted
General
Funds
£
4,659
-
13,552
320
95,004
189,330
302,865
Unrestricted
General
Funds
£
4,142
-
12,075
239
95,001
105,210
216,667		 Designated
Funds
£
-
-
-
-
Designated
Funds
£
-
-
-
Designated
Funds
£
-
-
-
-
-
38,789
38,789
Designated
Funds
£
-
-
-
-
-
39,930
39,930		 Restricted
Funds
£
-
-
-
-
Restricted
Funds
£
-
-
-
Restricted
Funds
£
12,049
10,197
222
67,301
-
-
89,769
Restricted
Funds
£
2,105
11,934
-
43,522
-
3,381
60,942		 Total Funds
2023
£
48,090
3,781
98
51,969
Total Funds
2022
£
42,869
4,098
46,967
Total Funds
2023
£
16,708
10,197
13,774
67,621
95,004
228,119
431,423
Total Funds
2022
£
6,247
11,934
12,075
43,761
95,001
148,521
317,539

4 Expenditure on: Charitable activities

13

THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

5 Staff costs

Salaries
Employer's National Insurance contributions
Pension contributions		 2023
£
80,504
-
3,527
84,031		 2022
£
70,843
-
3,032
73,875

No employee earned more than £60,000 during the year (2022: none)

During 2023, the average number of staff employed was 9 (2022: 10).

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 £13,963 for non-trustee roles within the church. (2022: £15,191).

6 Related party transactions

Mrs A Dobson, wife of Rev C Dobson, trustee, was paid £12,104 (2022: £10,847) during the year and the PCC made pension contributions on her behalf of £545 (2022: £488) for her role as Ministry Head for discipleship, and was reimbursed expenses of £793 (2022: £813).

Mrs R Brydon, a PCC member, was paid £13,361 (2022: £12,737) and the PCC made pension contributions of £601 (2022: £573) for her role as CAP Centre manager. She was also reimbursed expenses of £3,805 (2022: £1,644), in accordance with S7A of the Parochial Church Councils (Powers) Measure 1956.

During the year, donations from trustees and related parties were £37,473 (2022: £23,690).

No Trustee received reimbursement of any expenses incurred in carrying out their duties as a Trustee during either the current, or preceding year.

There are no other related party transactions other than those disclosed as required by the SORP elsewhere in the financial statements.

14

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

7 Comparative fund movements

Income from:
Donations and legacies
Charitable activities
Other trading activities
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 1 January
Total funds at 31 December		 Unrestricted
General
Funds
£
227,112
46,967
180
255
1,733
276,247
216,667
216,667
59,580
(59,889)
(309)
79,925
79,616		 Designated
Funds
£
-
-
-
-
-
-
39,930
39,930
(39,930)
45,025
5,095
1,329,588
1,334,683		 Restricted
Funds
£
57,484
-
1,589
-
163
59,236
60,942
60,942
(1,706)
14,864
13,158
41,681
54,839		 Total Funds
2022
£
284,596
46,967
1,769
255
1,896
335,483
317,539
317,539
17,944
-
17,944
1,451,194
1,469,138
Tangible fixed assets
£
Cost
At 1 January 2023
1,634,454
Additions
-
Disposal
(1,634,454)
At 31 December 2023
-
Depreciation
At 1 January 2023
138,357
Charge for the year
32,689
Depreciation on disposal
(171,046)
At 31 December 2023
-
Net book value
At 31 December 2023
-
At 31 December 2022
1,496,097
Church building
improvements		 £
35,147
570
-
35,717
29,873
5,329
-
35,202
515
5,274
Furniture &
fixtures		 £
1,524
1,774
-
3,298
212
771
-
983
2,315
1,312
Computer &
AV		 Total
£
1,671,125
2,344
1,634,454
-
39,015
168,442
38,789
171,046
-
36,185
2,830
1,502,683

8 Tangible fixed assets

Following the accounting policy (Note 1 - fixed assets), as the loans have been fully repaid, the building works that were capitalised have been de-recognised as an asset in this financial year.

15

THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

==> picture [554 x 713] intentionally omitted <==

----- Start of picture text -----
9 Debtors
2023 2022
£ £
Trade debtors 2,872 6,280
Prepayments and accrued income 6,191 6,050
9,063 12,330
10 Creditors
2023 2022
£ £
Amounts falling due within one year
Trade creditors 16,231 1,161
Grants due to mission partners 16,668 10,784
Other creditors and accruals 18,811 23,714
Loans - 20,000
51,710 55,659
Amounts falling due after more than one year
-
Loans for Building project 148,000
----- End of picture text -----

16

THE PCC OF CHRIST CHURCH, DOWNEND

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2023

11 Movement in funds
Unrestricted funds:
General Fund
Designated funds:
Fixed Asset designated fund
Total unrestricted funds
Restricted funds
Building 4 Life - Church redevelopment
Chaplaincy
Children's worker funding
Restricted gifts - Downend Soup
Christians Against Poverty fund
Flower fund
Special gifts fund
Mission -Global fund
Parish Weekend Away fund
Youth ministry fund
Total restricted funds
Total funds		 At
1 January
2023
£
79,616
1,334,683
1,414,299
-
221
18,449
634
30,423
730
-
462
167
3,753
54,839
1,469,138		 Income
£
534,325
-
534,325
-
-
2,438
-
30,422
1,127
1,800
5,880
1,000
6,903
49,570
583,895		 Expenditure
& losses
£
(302,865)
(1,502,197)
(1,805,062)
-
(222)
(10,197)
-
(27,822)
(1,066)
(1,800)
(39,479)
-
(9,183)
(89,769)
(1,894,831)		 Transfers
£
(207,071)
170,344
(36,727)
-
1
-
(634)
3,906
-
-
33,199
-
255
36,727
-		 At
31 December
2023
£
104,005
2,830
106,835
-
-
10,690
-
36,929
791
-
62
1,167
1,728
51,367
158,202

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

Fixed Asset designated fund - Capitalised assets less depreciation and the associated loans. Following the repayment of the loans, the asset has been derecognised in the year.

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 .

Childrens' worker funding - this fund has received increased income from giving this year specifically to fund part of the increased hours of the Children's Ministry Worker .

Restricted gifts - Downend Soup - Funds to support the “Downend Soup” project (which could not happen due to Covid) were, with the agreement of the donor, split equally between Warm Spaces and the Children’s Ministry, which both carry out work with a similar aim to the original project.

Christians Against Poverty fund - funds received for the work of the CAP centre in the parish .

Flower fund - donations received to purchase flowers in memory of loved ones.

Special Gifts fund - small gifts received to support specific aspects of church life .

Mission - global fund - funds received to support the church's mission partners .

Open Church fund - This fund has money raised by the Open Church Tuesday congregation to support worthy causes of its choosing. In 2022 they decided to empty the fund in support of the GF, specifically as a contribution to the cost of an external lighting project.

Parish Weekend Away fund - surplus funds from previous weekends, available for future weekends away .

Youth ministry fund - Funds set aside to support the church’s youth ministry work. The Youth group raised funds to buy Christmas presents for orphans in Haven Home India, and for some members to visit Haven Homes in December 2023.

17

THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

11 Movement in funds - continued

Prior Year Comparatives
Unrestricted funds:
General Fund
Designated funds:
Fixed Asset designated fund
Total unrestricted funds
Restricted funds
Building 4 Life - Church redevelopment
Chaplaincy
Children's worker funding
Restricted gifts - Downend Soup
Christians Against Poverty fund
Flower fund
Special gifts fund
Mission - Global fund
Open Church fund
Parish Weekend Away fund
Youth ministry fund
Total restricted funds
Total funds		 At
1 January
2022
£
79,925
1,329,588
1,409,513
3,030
221
6,847
634
28,431
476
-
62
1,342
167
471
41,681
1,451,194		 Income
£
276,247
-
276,247
366
-
16,683
-
22,295
961
1,398
6,932
-
-
10,600
59,235
335,482		 Expenditure
£
(216,667)
(39,930)
(256,597)
(3,381)
-
(5,581)
-
(23,840)
(707)
(1,398)
(19,682)
-
-
(6,352)
(60,941)
(317,538)		 Transfers
£
(59,889)
45,025
(14,864)
(15)
-
500
-
3,537
-
-
13,150
(1,342)
-
(966)
14,864
-		 At
31 December
2022
£
79,616
1,334,683
1,414,299
-
221
18,449
634
30,423
730
-
462
-
167
3,753
54,839
1,469,138

12 Analysis of net assets between funds

Current year
Unrestricted general funds
Designated funds
Restricted funds
Prior year
Unrestricted general funds
Designated funds
Restricted funds		 Fixed assets
£
-
2,830
-
2,830
Fixed assets
£
-
1,502,683
-
1,502,683		 Other net
assets
£
104,005
-
51,367
155,372
Other net
assets
£
79,616
(20,000)
54,839
114,455		 Creditors
due in more
than one year
£
-
-
-
-
Creditors
due in more
than one year
£
-
(148,000)
-
(148,000)		 Total
2023
£
104,005
2,830
51,367
158,202
Total
2022
£
79,616
1,334,683
54,839
1,469,138

18