## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL**
**ANNUAL REPORT & FINANCIAL STATEMENTS 31 DECEMBER 2024**
**Charity Number 1131689**
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL**
## **ANNUAL REPORT & FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2024**
|**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 - 19|
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 DECEMBER 2024**
## **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 charity is governed by the Parochial Church Council Powers Measure (1956) as amended and Church Representation Rules.
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 clergy team to be the key management personnel. Total benefits received by key management personnel during the year were £Nil (2023: £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 Jesus 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. We have identified three key aspirations as we outwork our vision – to grow deeper, wider and younger.
**Deeper** – Helping people grow in their faith and their understanding of God’s mission in his world.
**Wider** – Expanding our reach especially into the Bromley Heath Community, where we have less presence and impact.
**Younger** – Developing our work with local schools and remaining committed to intentional investment in children, youth and families.
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.
1
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 DECEMBER 2024**
## _**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 strengthened our links with local schools, established Bubble Church in Bromley Heath and relaunched our youth work offer enabling us to engage with significantly more children and young people in the parish.
## _**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. Vintage Adventure and our chaplain’s work in local care homes ensures that the elderly in our community are valued.
Our Church building and halls are widely used for services, community groups and church outreach initiatives, bringing in much needed income and serving the wider community.
## _**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 members of the Christ Church family visiting Uganda in the last 12 months.
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 reports total net assets of £170k (2023: £158k). With £123k (2023: £104k) held as Unrestricted General Funds, £41k (2023: £51k) held as Restricted Funds, and £6k (2023: £3k) held as Designated Funds.
The Statement of Financial Activities (SOFA) for the year reports income of £345k, expenditure of £333k and a net income of £12k.
Most of the value in restricted funds relate to the CAP (Christians Against Poverty) centre £31k (2023: £37k) and Youth, Schools and Children’s Ministries £8.7k (2023: £12.4k).
## **Unrestricted General Fund**
The PCC approved a deficit budget of £15K for the General Fund for 2024, inclusive of fund movements. During the year, the fund generated a surplus of £19k, with a closing balance of £123k (2023: £104k). Income included unbudgeted legacies of £10.2k and one-off giving of £10.4k.
2
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL**
## **TRUSTEES’ ANNUAL REPORT**
## **YEAR ENDED 31 DECEMBER 2024**
## **Designated Funds**
The Fixed Asset designated fund is made up from the net book value of capitalised assets, which totalled £6.3k at the year end (2023: £2.8k). The increase includes the purchase of a new security system for the church, laptops for CAP and the PCC bookkeeper and an AV system for Bubble Church.
## **Restricted Funds**
- The Children’s Ministry Fund brought forward a balance of £10.7k. This together with in year income of £4.7k has helped fund the Children’s Worker employment costs of £11k. The carry forward at year end is £2.8k.
- The Schools Ministry Fund was set up during 2024. A grant of £6k was received from the Diocese of Bristol alongside generous regular giving. The carry forward at year end is £2.6k.
- ● The Youth Ministry Fund received grants of £4.6k alongside generous gifts and fundraising. Donations of £3.1k were made to Haven Home, India, during the year. The carry forward at year end is £3.4k.
- CAP Funds report a healthy balance of £31k at year end. Expenditure of £28k is consistent with 2023. However, income of £18.6k (2023: £30.4k) reflects reduced donations, regular giving and grant income.
- During the year Christ Church Downend gifted £31.6k to Church Mission Partners, with Circuit Riders added as a mission partner in the year. Funds were raised through the 10% tithing of General Fund donations as well as from individual donors.
## **The Outlook for 2025 and beyond**
The PCC has approved a deficit budget for the General Fund of £8k, allowing for operation at a similar level to 2024. This does include a budgeted £10k decrease in Parish Share compared to 2024 and a £5k contribution to the Asset Management Plan fund, which needs to be built back up again following completion of the work on the South Tower. During 2024 work was started on repairing the chancel roof. This work was completed during 2025 and we will see costs charged during 2025.
## **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 £123k, which represents just under 8 months budgeted General Fund expenditure for 2025.
## **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 2024**
## **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 6 May 2025 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 2024**
## **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 Rev. Philip Rowe Rev. Anne Louise Critchlow
Incumbent Associate Minister Assistant Minister Permission to Officiate (from January 2024) Permission to Officiate (from January 2024)
**Church Wardens** Maggie Nichols Bryan Ashton
## **Deanery Synod Representatives**
Alison Rowe Roger Cholmondeley (until May 2024) Richard Ward (until May 2024) **Elected Members** Kate Allen Richard Bacon Julian Cox Laura Green Sally Green Lynda Lloyd (from May 2024) Debbie Pastwa Andrew Pound Nigel Stowe (from February 2024) **Officers to the PCC – non-voting** Caroline Plummer Clerk to the PCC (until September 2024) Hilary Stadden Clerk to the PCC (from September 2024) Jamie Paddon Honorary Treasurer (until September 2024 **)**
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 Honorary Treasurer (until September 2024) Gabrielle Foster Bookkeeper (paid employee) Adrian Harding Planned Giving Secretary Rev. Paul Peterson Acting Chair David Green Adam Parfitt Debra Turpin (until May 2024)
5
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, DOWNEND, BRISTOL**
## **REFERENCE & ADMINISTRATIVE INFORMATION**
## **YEAR ENDED 31 DECEMBER 2024**
## **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 2027). 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 2024**
I report to the trustees on my examination of the accounts of Christ Church, Downend (the Charity) for the year ended 31 December 2024.
## **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 The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date: ………………………….. 06 May 2025
7
## **THE PCC OF CHRIST CHURCH, DOWNEND**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2024**
|**Note**
**Income from:**
Donations and legacies
**2**
Charitable activities
**3**
Other trading activities
Investment income - interest received
Other income
**Total income**
**Expenditure on:**
Charitable activities
**4**
**Total expenditure**
**Net income/(expenditure) before transfers**
**7**
**Transfers between funds**
**14**
**Other recognised gain/(losses)**
Derecognition of Church development asset
**Net movement in funds**
**Reconciliation of funds:**
**Total funds at 1 January**
**14**
**Total funds at 31 December**
**14**|**Unrestricted**
**General**
**Funds**
**£**
241,100
54,590
2,163
2,377
30
300,260
259,064
259,064
41,196
(22,458)
-
18,738
104,005
122,743|**Designated**
**Funds**
**£**
-
-
-
-
-
-
1,541
1,541
(1,541)
5,059
-
3,518
2,830
6,348|**Restricted**
**Funds**
**£**
43,970
-
965
-
-
44,935
72,708
72,708
(27,773)
17,399
-
(10,374)
51,367
40,993|**Total Funds**
**2024**
**£**
285,070
54,590
3,128
2,377
30
345,195
333,313
333,313
11,882
-
-
11,882
158,202
170,084|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|
|---|---|---|---|---|---|
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 19 form part of these financial statements**
**Comparative fund movements are shown in note 10**
8
**THE PCC OF CHRIST CHURCH, DOWNEND**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2024**
|**Note**
**Fixed assets**
Tangible fixed assets
**11**|**2024**
2023
**£**
£
6,348
2,830|
|---|---|
||6,348
2,830|
|**Current assets**
Debtors
**12**
Cash at bank and in hand|3,139
9,063
183,154
198,019|
|**Creditors : Amounts falling due**
**within one year**
**13**|186,293
207,082
(22,557)
(51,710)|
|Net Current Assets|163,736
155,372|
|**Net assets**|170,084
158,202|
|**Funds**
Unrestricted
General
**15**
Designated
**15**
Restricted
**15**|122,743
104,005
6,348
2,830
40,993
51,367|
||170,084
158,202|
06 May 2025 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 19 form part of these financial statements**
9
**THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31 DECEMBER 2024**
## **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 and grants 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 2024**
- **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. In previous year there were improvements to the church buildings that were capitalised and depreciated, this was due to the presence of associated loans related to the building improvements. Once the loans were paid off, the asset was also written off.
## _**Other fixtures, fittings and office equipment**_
These are capitalised in the year in which they are purchased and depreciated as follows:
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 CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.
CWPF has two sections:
1. the Defined Benefits Scheme
2. the Pension Builder Scheme, which has two subsections;
- a. a deferred annuity section known as Pension Builder Classic, and,
- 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 2024**
- **1 Accounting policies** _**(continued)**_
## _**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 £4,159 (2023: £3,527).
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 Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2025, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997; and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 2.7% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2024. There is no requirement for deficit payments at the current time.
The next valuation is due as at 31 December 2025.
For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m 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 the failed employer’s pension liabilities.
12
**THE PCC OF CHRIST CHURCH, DOWNEND**
**NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024**
- **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**
**£**
153,072
37,246
13,608
11,479
10,200
15,495
241,100|**Designated**
**Funds**
**£**
-
-
-
-
-
-
-|**Restricted**
**Funds**
**£**
21,361
4,055
-
7,071
-
11,483
43,970|**Total Funds**
**2024**
**£**
174,433
41,301
13,608
18,550
10,200
26,978
285,070|
|---|---|---|---|---|
|**Prior year comparatives**
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|
|---|---|---|---|---|
## **3 Income from: Charitable activities**
|Lettings
Wedding and funeral services
Book sale
**Prior year comparatives**
Lettings
Wedding and funeral services
Book sale|**Unrestricted**
**General**
**Funds**
**£**
50,654
3,664
272
54,590
**Unrestricted**
**General**
**Funds**
**£**
48,090
3,781
98
51,969|**Designated**
**Funds**
**£**
-
-
-
-
**Designated**
**Funds**
**£**
-
-
-
-|**Restricted**
**Funds**
**£**
-
-
-
-
**Restricted**
**Funds**
**£**
-
-
-
-|**Total Funds**
**2024**
**£**
50,654
3,664
272
54,590
**Total Funds**
**2023**
**£**
48,090
3,781
98
51,969|
|---|---|---|---|---|
13
**THE PCC OF CHRIST CHURCH, DOWNEND**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2024**
## **4 Expenditure on: Charitable activities**
|Direct costs
Gathered church
Children's and youth ministry
Discipleship and pastoral care
Local and overseas mission
Gifts to organisations and individuals
Note 5
Parish share
Support costs
Note 6
**Prior year comparatives**
Direct costs
Gathered church
Children's and youth ministry
Discipleship and pastoral care
Local and overseas mission
Grants
Note 5
Parish share
Support costs
Note 6|**Unrestricted**
**General**
**Funds**
**£**
6,916
-
14,092
222
-
110,004
127,830
259,064
**Unrestricted**
**General**
**Funds**
**£**
4,659
-
13,552
320
-
95,004
189,330
302,865|**Designated**
**Funds**
**£**
-
-
-
-
-
-
1,541
1,541
**Designated**
**Funds**
**£**
-
-
-
-
-
-
38,789
38,789|**Restricted**
**Funds**
**£**
1,591
19,475
-
20,016
31,626
-
-
72,708
**Restricted**
**Funds**
**£**
2,876
16,051
222
21,310
49,310
-
-
89,769|**Total Funds**
**2024**
**£**
8,507
19,475
14,092
20,238
31,626
110,004
129,371
333,313
**Total Funds**
**2023**
**£**
7,535
16,051
13,774
21,630
49,310
95,004
228,119
431,423|
|---|---|---|---|---|
## **5 Donations to organisations and individuals (grants payable)**
|CAP Head Office
Moldova Church Partnership
Deanery Uganda
CMS
Haven Home, India
Mission Direct, Uganda
Open Doors
Circuit Riders
Children of Clarens, SA
Others|**2024**
**£**
6,450
2,296
378
2,458
7,103
2,810
2,296
2,296
4,092
1,447
31,626|**2023**
**£**
6,360
22,717
541
2,717
6,683
2,742
2,741
-
4,659
150
49,310|
|---|---|---|
14
**THE PCC OF CHRIST CHURCH, DOWNEND**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2024**
## **6 Support Costs**
|Administration Costs
Governance
Concumables
Cleaning and Maintenance
Utilities & Insurance
Other Property Management Costs
Other Services Received
Payroll Expenses
Other Staff Costs
Other Costs
Publicity
Depreciation
**7**
**Net income/(expenditure) for the period**
This is stated after charging:
Independent examiner's fees:
Independent examination
Other services
Depreciation
**8**
**Staff costs**
Salaries
Employer's National Insurance contributions
Pension contributions|**2024**
**£**
6,157
3,822
2,223
10,592
29,134
10,334
3,101
55,392
4,433
1,773
869
1,541
129,371
**2024**
**£**
3,720
102
1,541
**2024**
**£**
94,126
-
4,099
98,225|**2023**
**£**
4,998
3,504
1,716
9,052
34,880
77,841
2,161
48,139
3,204
3,835
-
38,789
228,119
**2023**
**£**
3,504
-
38,789
**2023**
**£**
80,504
-
3,527
84,031|
|---|---|---|
No employee earned more than £60,000 during the year (2023: none).
During 2024, the average number of staff employed was 10 (2023: 9).
The charity considers the key management personnel to be the PCC members and senior clergy team.
In the year, PCC members and senior clergy team received no salaries or benefits for non-trustee roles within the church (2023: £13,963).
## **9 Related party transactions**
Mrs A Dobson, wife of Rev C Dobson, trustee, was paid £12,854 (2023: £12,104) during the year and the PCC made pension contributions on her behalf of £578 (2023: £545) for her role as Ministry Head for discipleship, and was reimbursed expenses of £2,142 (2023: £793).
In 2023, Mrs. R. Brydon, who was a member of the PCC at the time, received a salary of £13,361 for her role as CAP Centre Manager. The PCC also contributed £601 towards her pension. During the same period, she was reimbursed £3,085 in expenses, in accordance with Section 7A of the Parochial Church Councils (Powers) Measure 1956. Mrs. Brydon has continued in her role as a CAP Centre Manager since stepping down as a PCC member in May 2023.
15
**THE PCC OF CHRIST CHURCH, DOWNEND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024**
## **9 Related party transactions** _**(continued)**_
During the year, donations from trustees and related parties were £31,256 (2023: £37,473).
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.
## **10 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**
**Other recognised gain/(losses)**
Derecognition of Church development assets
**Net movement in funds**
**Reconciliation of funds:**
**Total funds at 1 January**
**Total funds at 31 December**|**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|
|---|---|---|---|---|
16
**THE PCC OF CHRIST CHURCH, DOWNEND**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2024**
**----- Start of picture text -----**
11 Tangible fixed assets Furniture & Computer &
fixtures AV Total
£ £ £
Cost
At 1 January 2024 35,717 3,298 39,015
Additions 3,232 1,827 5,059
At 31 December 2024 38,949 5,125 44,074
Depreciation
At 1 January 2024 35,202 983 36,185
Charge for the year 368 1,173 1,541
At 31 December 2024 35,570 2,156 37,726
Net book value
At 31 December 2024 3,379 2,969 6,348
At 31 December 2023 515 2,315 2,830
12 Debtors
2024 2023
£ £
Trade debtors 2,207 2,872
Prepayments and accrued income 932 6,191
3,139 9,063
13 Creditors
2024 2023
£ £
Amounts falling due within one year
Trade creditors 868 16,231
Grants due to mission partners 9,400 16,668
Other creditors and accruals 12,289 18,811
22,557 51,710
**----- End of picture text -----**
17
## **THE PCC OF CHRIST CHURCH, DOWNEND**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2024**
|**14 Movement in funds**
Unrestricted funds:
General Fund
Designated funds:
Fixed Asset designated fund
Total unrestricted funds
Restricted funds
Children's Ministry fund
Christians Against Poverty fund
Flower fund
Mission - Global fund
Parish Weekend Away fund
Youth Ministry fund
School Ministry fund
Total restricted funds
**Total funds**||**At**
**1 January**
**2024**
**£**
104,005
2,830
106,835
10,690
36,929
791
62
1,167
1,728
-
51,367
158,202|**Income**
**£**
300,260
-
300,260
4,697
18,563
782
6,604
-
7,539
6,750
44,935
345,195|**Expenditure**
**& losses**
**£**
(259,064)
(1,541)
(260,605)
(12,625)
(27,912)
(1,014)
(20,606)
(577)
(5,823)
(4,151)
(72,708)
(333,313)|**Transfers**
**£**
(22,458)
5,059
(17,399)
-
3,457
-
14,002
-
(60)
-
17,399
-|**At**
**31 December**
**2024**
**£**
122,743
6,348
129,091
2,762
31,037
559
62
590
3,384
2,599
40,993
170,084|
|---|---|---|---|---|---|---|
## **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 assets 'Church Building Improvements' were derecognised in previous year.
## **Restricted funds**
**Chaplaincy** - Funds received towards the pastoral care and wholeness ministry of the church **.**
**Children's Ministry** - Funds the Children’s Ministry worker and runs several groups for children and their parents/carers. **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 **.** It continues to pay the CAP worker, and the expenses of the CAP volunteers, as well as directly support groups and individuals in need **.**
**Flower fund** - It provides flowers for the Church, particularly for key events such as Christmas and Easter (mainly via donations).Also provides flowers for Weddings and Funeral (paid for by the family).
**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 had money raised by the Open Church Tuesday congregation to support worthy causes of its choosing. Not in use in 2023 and 2024 and has zero balance, but kept open to allow the Open Church group to raise funds for specific things as and when they decide **.**
**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. **Schools Ministry** - Funds the payroll and outreach activities of the Schools Ministry worker.
18
**THE PCC OF CHRIST CHURCH, DOWNEND**
**NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024**
## **14 Movement in funds -** _**continued**_
|**Prior Year Comparatives**
Unrestricted funds:
General Fund
Designated funds:
Fixed Asset designated fund
Total unrestricted funds
Restricted funds
Chaplaincy
Children's Ministry fund
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**
**£**
(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|
|---|---|---|---|---|---|---|
## **15 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**
**£**
-
6,348
-
6,348
**Fixed assets**
**£**
-
2,830
-
2,830|**Other net**
**assets**
**£**
122,743
-
40,993
163,736
**Other net**
**assets**
**£**
104,005
-
51,367
155,372|**Total**
**2024**
**£**
122,743
6,348
40,993
170,084
**Total**
**2023**
**£**
104,005
2,830
51,367
158,202|
|---|---|---|---|
19