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2021-12-31-accounts

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Annual Report and

Financial Statements of the Parochial Church Council of Emmanuel Church, South Croydon

for the year ended 31 December 2021

Registered Charity no 1132879

Emmanuel Church, South Croydon

hroughout the year our Sunday pattern of worship and prayer has included the following services:

he Electoral Roll was revised in April 2022 consisting of 358 names, compared with 369 in the previous year. Because f the national restrictions in 2021, we only conducted 4 baptisms, and 7 weddings during the year. There were 3 inerals.

hiscipleship

during 2021, the church has given significant emphasis to encouraging our discipleship. Emmanuel has continued to run s Home Groups via Zoom, and provided regular training and support for leaders of Home Groups and other small groups. ‘his year Home Group bible studies have been linked to the Sunday morning services. We had an initiative to read through uke’s Gospel together as a church through Advent. A short course of “Talking Jesus” in the autumn provided teaching nd encouragement on how we can naturally and straightforwardly share our faith with our friends, neighbours and olleagues. A number of on-line explorer courses (such as Alpha and Christianity Explored) were also run throughout the ear for those exploring the Christian faith as well as new believers.

ictivities

\s we continue to nurture and build our community, we want our groups and activities to be a place for people to be aspired, to join in, lead and grow. Inevitably, the Covid-19 restrictions meant that there were constraints on the activities zat would normally be part of the life at Emmanuel.

\ccordingly, a particular emphasis has been on helping people to build and maintain relationships. In the first half of the ear, this included activities such as a Virtual Mission Concert (which raised money for two of Emmanuel’s mission artners; The Daniel Spargo-Mabbs Foundation and Jack and Sarah Winterburn) and Desert Island Discs.

“he church has also continued to make regular communication with its members a priority during the year. The Vicar has ad the leadership team in producing a “Mid-week Memo” to complement the teaching in the Sunday Services, and these nessages of hope and information sharing have been deeply appreciated. A weekly email update was sent to everyone on he church’s database every Friday.

\s well as The Rock groups on Sunday mornings (including Rock TV live for the periods when it was not possible to neet in-person), we also held regular midweek activities for our children and young people. Friday Rockz!, every two veeks, is a popular, fun-filled, action packed group for children in school years 3-6. Years 10-13 met up on a Tuesday vening, with a social and puddings, and for school years 6-9 there was weekly midweek meeting on Wednesdays Iternating between in-person and online. A particular highlight was Back on the Bus, a series of excursions and activities ield over the summer to re-establish connections.

‘or young families, we continued with our programme of creche, Toddlers, Saturdads, Bumps and Babies and Messy

*hurch. We held regular Mums’ Breakfasts.

Cowards the end of the year, we started a new in person home group for those 20-30s who had recently started vorshipping with us through the pandemic.

Jur activities for Seniors included regular Tuesday afternoon meetings, and a Spring and Summer Rendezvous.

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Emmanuel Church, South Croydon

Community Outreach and Ministry

Despite the challenges, the vast majority of our normal community and ministry activities continued, albeit largely remotely in most cases. A particular emphasis through the year remained pastoral care, coordinated by the Clergy and the pastoral team. Selam, an initiative providing English language classes for women in the locality for whom English is not their first language, continued to meet online. We held a Community Day in October, which brought together a wide range of the congregation to tackle some practical jobs around the Church, Centre and grounds, and to further build reconnection.

The ECO Group continued to coordinate our thinking and efforts to become better environmental curators of God’s creation, both corporately and individually. We want our church — as an organisation, as a building and as members — to work to increase our positive environmental interactions and to decrease our negative environmental impact.

Global Mission

Our involvement in the activities of the wider church in the UK and around the world is overseen by the Global Mission Committee. We support a wide range of people, projects and organisations, funded by part of our income which we set aside each year. Some of the people we support are Emmanuel members who have been called to serve God in other places, while many of the projects and organisations have a personal or historical connection with Emmanuel. Our support in 2021 can be grouped under four main areas of activity:

Personnel Emmanuel is blessed with many committed volunteers, who alongside our staff team, run or assist with our activities. The PCC would like to express its thanks to all who volunteered their time so willingly, and who adapted so well to new ways of doing things during 2021.

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Emmanuel Church, South Croydon

The PCC has established a number of paid staff roles to lead key activities, coordinate these volunteers, and to support the clergy in their work. The PCC keeps the rationale for these roles under regular review. The following paid roles were in place during 2021:

Safeguarding

We take the safeguarding and care of children and vulnerable adults very seriously. All of our activities were carried out in accordance with a safeguarding policy in line with guidance given by the Diocese of Southwark’s safeguarding officer, and approved by the PCC. All group leaders and helpers involved with any activities with children or vulnerable adults undergo safeguarding checks as required by the policy. The PCC is very grateful for Jane Mash, our Safeguarding Administrator and Linda Penn, our Safeguarding Officer, for overseeing this process.

Future Plans

As a parish church, our plan is to prayerfully continue to invest time, money and resources into sharing the Good News of Jesus and being a centre of prayer, worship, learning and pastoral care for all who live in the local community, or join us online. A particular goal for the Vicar and PCC for 2022 is to seek and articulate a refreshed vision for the next two to five years.

Financial and Operational Review

2021 Overview The PCC set a budget for 2021 that projected a small deficit. The coronavirus pandemic had slowed down the pace that we had been able to carry out work in 2020 and there were a number of projects that we had planned to carry out that were delayed into 2021. Looking at income on a combined basis across all the funds, giving increased by 9.7% year on year to £611,937 (2020: £557,761). Overall, income increased by 12.3% to £658,728 (2020: £586,593).

General Fund Voluntary giving to the General Fund (including gift aid tax recoverable) amounted to £522,928 in 2021 (2020: £516,751), an increase of 1.2% compared with 2020. Income from charitable activities increased by 30% as various activities resumed following the easing of pandemic lockdown restrictions. Lettings of the Watney Room and the Emmanuel Centre recovered from 2020 as many events slowly re-established during the year. One of the church houses continued to be let on a short-term basis during a vacancy between staff appointments. Overall, income from all sources in 2021 of £569,606 (2020: £545,583) was 4.4% higher than in 2020, for the reasons noted.

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Emmanuel Church, South Croydon

Total General Fund expenditure in 2021 amounted to £538,936 (2020: £511,504), 5.3% higher than in the previous year, largely due to repairs to the church that had been delayed from 2020 due to the pandemic.

Overall, income exceeded expenditure for the year by £30,670. However, after transferring £19,760 from the Unrestricted Development Fund, relating to the upgrade of the church audio-visual systems, the General Fund had a surplus for the year amounting to £50,430. This will be added to accumulated funds.

Development Fund

The purpose of the Development Fund is to invest in people, projects and properties in furtherance of Emmanuel’s ministry. The Development Fund mainly consists of the unspent proceeds from legacies received in past years together with the freehold properties beneficially owned by the PCC; the Emmanuel Centre and three staff houses.

A legacy of £2,000 was received during the year and expenditure comprised £15,054 on additional sound-proofing for the Emmanuel Centre and depreciation of £42,240 on the cost of the Emmanuel Centre.

In order to support the increasing use of on-line broadcasting, the Development Fund financed an upgrade to the Church audio-visual system at a total cost of £19,760. The Development Fund also provided a contribution of £50,000 towards the cost of improvements and alterations at the Vicarage with spend of£42,633 in the year (2020: £7,367).

Restricted Funds

Global Mission Fund

The PCC approves an annual budget for global mission grants. Funding for these is provided from the General Fund. The Global Mission Committee oversees the distribution of grants in support of our own mission partners, regularly supported mission societies and other projects and appeals with which Emmanuel has connections. Any unbudgeted grants over £1,500 are individually approved by the PCC.

The restricted Global Mission Fund receives donations which have been specifically restricted to a specified mission partner, project or appeal. Specific donations in 2021 totalled £8,028 (2020 £2,671) and grants paid out totalled £7,893 (2020: £3,799).

The total amount distributed for mission purposes during the year was £96,697 (2020 £78,488) as detailed in Note 12 to the Financial Statements,

At 31 December 2021, the balance in hand in the Global Mission Fund of £10,331 (2020: £10,196) represented specified donations received for individual mission partners and projects awaiting distribution and the unspent balance of a legacy, which is being retained for a future project.

Hall Redevelopment Fund

During 2021, members of the congregation continued to honour their remaining commitments to contribute towards the redevelopment of the Church hall over a 5-year period. Such donations amounted to £29,738 (2020: £37,089). As the project has been completed and fully paid for, the balance has been transferred to the Development Fund in partial repayment of funding for the project previously provided by the Development Fund. The balance on the Hall Redevelopment Fund was £2,899 (2020: £2,899, representing the unspent balance of a specifc grant for furniture).

Outlookfor 2022

The PCC has set an expenditure budget for operational funds in 2022 of £583,000, which is likely to result in a modest deficit after all repairs have been completed.

Reserves Policy

It is PCC policy to maintain, to the extent possible, a balance on unrestricted funds (excluding fixed assets) equating to between three and six months’ expenditure. Currently the reserves balance under the General Fund are approximately seven months’ expenditure following a slow build up of reserves over the past few years.

However, including the Development Fund, which is a designated but unrestricted fund, total unrestricted reserves (excluding properties) amounted to £654,063 at 31 December 2021 (2020: £664,149) (see Note 9 to the Financial

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Emmanuel Church, South Croydon

Statements), which is the equivalent to sixteen months expenditure. The PCC continues to monitor this position and to engage with the congregation on its giving.

It is PCC policy to place funds surplus to immediate requirements with the CBF Church of England Deposit fund.

Fundraising

In line with the reporting requirements included in the Charities Act 2016, the Trustees can confirm that all fundraising is undertaken in compliance with best fundraising practice. All fundraising activities follow traditional methods which have been recognised as ethical for many years. During 2021 we did not employ any professional fundraisers. There were no complaints or criticisms during the year about our fundraising activities.

Risk Management

The PCC is responsible for considering the major risks to which the Church is exposed and for the systems and procedures designed to mitigate those risks. In this regard, PCC appointments include an Insurance Officer, a Safeguarding Officer and a Health & Safety Officer.

The PCC have in the past established a team to conduct a formal risk review process and to prepare a risk register for the Church. During the year our sub committees were asked to reassess risks to reflect current views under a number of key headings (for example, fabric, financial, and operational risks) and to assess: what the risks are, how likely they are to arise, what severity of impact they might have and what mitigations and controls exist. The register is reviewed and updated periodically by the Standing Committee and results reported to the PCC. The Operations Manager is responsible for the risk register and health and safety throughout the church complexes.

The most significant risk factors relate to the Church’s fabric, its activities with young or vulnerable people, and its continuity of income. The team were satisfied that these risks are adequately and appropriately addressed through a combination of insurance, operating procedures and controls, and prudent budgeting and cash flow forecasting.

The specific risk factors highlighted as requiring attention are being progressed by the Standing Committee and the risk register is subject to periodic review and consideration by the Standing Committee.

Pay and remuneration

Pay and remuneration of our clergy is determined and paid by the Diocese of Southwark. Pay and remuneration of other staff is determined by the PCC, with periodic benchmarking against similar roles and Diocesan pay awards. Annual Increments are linked directly to Diocesan increases.

Key Management Personnel are considered to be the PCC members and Clergy as they are in charge of directing, controlling, running and operating the church on a day to day basis. All PCC members give oftheir time freely and received no remuneration in the year. Details of PCC members’ expenses and related party transactions are disclosed in Note 11 to the financial statements. As noted above, the remuneration of the clergy is determined and paid by the Diocese.

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Emmanuel Church, South Croydon

Administrative Information

Parochial Church Council Membership

Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During the period 1 January 2021 to 3 May 2022, the date of this Annual Report, the following served as members of the PCC:

Vicar: Associate Vicar:

The Revd John Adams The Revd Ben Jones (to Jul 2021) The Revd. Jon Featherstone (from Mar 2022)

Minister for Youth, Children and Families: The Revd. Elliot Swattridge (from Jan 2022) Minister with PTO: The Revd. Jan Wilson Churchwardens: Pete Burt Wendy Riches (to May 2021) Jamie Beaumont (from May 2021)

Members of Deanery Synod:

Esther Barradell

Mary Knight Richard Mash Ranil Perera Wendy Riches Paul Waddell

Elected members:

Clare Buchanan

Daniel Edwardson Charles Fillingham Suzanne French Andrew Gillam (from Aug 2021) Paul Gulliford (to Jul 2021) Carolyn Heath Marlene Hinds Claire Jeffries (from May 2021) Stephanie King (to May 2021) Jonathan Mash Julia Nunn (to May 2021) Daniel Orazulume Linda Penn Rebecca Pickering Alastair Roseweir Rachel Smith Simon Smith (from May 2021) Helen Squires Helen Taylor (to May 2021) Rachel Warren

Staff Team

The staff team consisted of: The Vicar The Revd John Adams Associate Vicar The Revd Ben Jones (to Jul 2021) The Revd. Jon Featherstone (from Mar 2022) Minister for Youth, Children and Families: The Revd. Elliot Swattridge (from Jan 2022) Youth Minister Mike Rutt (to June 2021) Children’s Minister Sheridan Lloyd (to Dec 2021) Music & Worship Co-ordinator Stuart Burke Young Families Co-ordinator Clare Fillingham

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Emmanuel Church, South Croydon

Production& Online Media Sam Merrell (from Sept 21)
Co-ordinator
Readers Anthony Blake, Jeremy Davies, Andrew Gillam, PeterGraystone,
and Clive Lewis-Jones
Principal Organist Richard Mash
SPAs Eileen Parsons, Carol Trower, and Liz David
Operations Manager MagdalenaZajaczkowska
Administrator Jill Bishop
PA to Clergy Jeanette McCarthy (to Dec 2021)
Suzanne Wells (from Feb2022)
Safeguarding Officer Linda Penn
Safeguarding Administrator Jane Mash
KeyManagementPersonnel
The Vicar The Revd John Adams
Associate Vicar The Revd Ben Jones (to July 2021)
The Revd. Jon Featherstone (from Mar 2022)
Minister forYouth,
ChildrenandFamilies: TheRevd.ElliotSwattridge(fromJan2022)

PCC Membership (as above)

Structure, Governance and Management

The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure.

The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and may then stand for election to the PCC. All members of the PCC are Trustees in accordance with the requirements of the Charities Act 2011 (the “Act’’). All new PCC members are appraised of their responsibilities as trustees under the definitions of the Act through meetings and training, and in particular through an extended briefing at the first meeting of each new PCC. Existing PCC members have been provided with training for Safeguarding children and vulnerable adults and this will be continued for new members. The PCC has appointed a number of Committees to assist in carrying out its aims and objectives. The Standing Committee is empowered to transact the business of the PCC between its meetings, subject to any directions given by the PCC. The Standing Committee keeps under review all matters of PCC business that are not delegated to other committees and advises the PCC accordingly.

The PCC appointed the following Committees:

Standing Human Resources Global Mission Fabric Finance Eco Group Listening Group

The PCC met for ordinary business seven times during 2021.

The PCC and all committees additionally operate under the guidelines of the Emmanuel Church Standing Orders updated June 2021.

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Emmanuel Church, South Croydon

RESPONSIBILITIES OF THE MEMBERS OF THE PCC

The PCC is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity Law requires the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Church and of the results for that year. In preparing those financial statements, the PCC is required to:

The PCC is responsible for keeping adequate accounting records which disclose, with reasonable accuracy at any time, the financial position of the Church, and to enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and the regulations under section 154 of the Charities Act 2011. It is also responsible for safeguarding the assets ofthe Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the PCC

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Chairperson
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tue July 2022

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Emmanuel Church, South Croydon

Independent auditor’s report to the members of the Parochial Church Council of Emmanuel Church, South Croydon

Opinion

We have audited the financial statements of the Parochial Church Council of Emmanuel Church, South Croydon (the “PCC”) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the PCC in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the PCC members’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the PCC’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the PCC members with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the PCC members’ report, other than the financial statements and our auditor's report thereon. The PCC members are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Emmanuel Church, South Croydon

Independent auditor’s report to the members of the Parochial Church Council of Emmanuel Church, South Croydon (continued)

Matters on which we are required to report by exception In the light of the knowledge and understanding of the PCC and its environment obtained in the courseofthe audit, we have not identified material misstatements in the PCC members’ report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: e adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

Responsibilities of the PCC members

As explained more fully in the PCC members’ responsibilities statement, the PCC members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the PCC members are responsible for assessing the PCC’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the PCC members either intend to liquidate the PCC or to cease operations, or have no realistic alternative but to do So.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. ‘

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to employment, financial reporting legislation and health and safety regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011. We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team.

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Emmanuel Church, South Croydon

Independent auditor’s report to the members of the Parochial Church Council of Emmanuel Church, South Croydon (continued)

Auditor’s responsibilities for the audit of the financial statements (continued)

We determined that the principal risks were related to management bias in accounting estimates, presentation of separately disclosed items, migration of financial data between proprietary software systems and management override of controls.

In response to the risks identified we designed procedures which included, but were not limited to challenging significant accounting estimates such as depreciation of tangible fixed assets, agreeing financial statement disclosures to underlying supporting documentation, testing opening balances at the date of transfer to the new accounting system, identifying and testing journal entries, reviewing PCC meeting minutes and evaluating the charity’ internal controls.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor's report.

Use of our report

This report is made solely to the PCC members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the PCC members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the PCC and the PCC members as a body, for our audit work, for this report, or for the opinions we have formed.

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J ALolo, Comencg ls t Steet
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Jacob Cavenagh & Skeet Statutory Auditor Chartered Accountants

5 Robin Hood Lane Sutton Surrey SM1 2SW

Dated: ASloF 12022

Jacob Cavenagh & Skeet is eligible for appointment as auditor of the PCC by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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Emmanuel Church, South Croydon

BALANCE SHEET at 31 December 2021

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Note|2021|2020| |£|£| |FIXED|ASSETS| |Tangible|fixed|assets|5|2,689,697|2,717,916| |CURRENT|ASSETS| |Debtors|6|107,329|101,135| |Cash|at bank|and|in|hand|659,980|636,720| |767,309|737,855| |CREDITORS:|amounts|falling|due|within|one|year|7|(55,095)|(47,534)| |NET CURRENT ASSETS|712,214|690,321| |TOTAL NET ASSETS|9|3,401,911|3,408,237| |FUNDS| |Unrestricted|Funds:|General|Fund|359,631|309,201| |Development Fund|2,984,129|3,072,864| |Restricted|Funds:|10|58,151|26,172| |TOTAL FUNDS|3,401,911|3,408,237|

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Approved on behalf of the Parochial Church Council on l¢ July 2022 and signed by:

Pete Burt Chairman

Andrew Gillam Treasurer

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Emmanuel Church, South Croydon

STATEMENT OF CASH FLOWS for the year ended 31 December 2021

2021 2020
£ £ £ £
Cash provided by operating activities (note below) 42,451 64,281
Cash flows from investing activities
Interest received 569 1,115
Payments to acquire tangible fixed assets (19,760) -
Cash (used in)/provided by investing activities (19,191) 1,115
Net cash inflow 23,260 65,396
Cash and cash equivalents at 1‘ January 636,720 571,324
Cash and cash equivalents at31stDecember 659,980 636,720
Note: Cash flows from operating activities
Net (expenditure)/income (6,326) 19,070
Interest receivable included in investing activities (569) (1,115)
Depreciation 47,979 48,689
(Increase) in debtors (6,194) (1,385)
(Decrease)/Increase in creditors 7,561 (978)
Cashprovidedbyoperatingactivities 42,451 64,281

Page 15

Emmanuel Church, South Croydon

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

,

  1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with the Church Accounting Regulations 2016 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). Emmanuel Church, South Croydon meets the definition of a public benefit entity under FRS 102, is a corporate body established by the Church of England, and a registered charity in England and Wales no. 1132879. The Church Office is at Emmanuel Church Normanton Road, South Croydon, CR2 7AF.

The accounts have been prepared under the historical cost convention. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

The financial statements are prepared in sterling, which is the functional currency of the church. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the PCC members have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. Thus, the PCC members continue to adopt the going concern basis of accounting in preparing the financial statements.

Funds

The financial statements 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; nor do they include the accounts of church groups under the control of the PCC but where the amounts are considered to be immaterial.

Income

Donations and legacies: Voluntary income and donations (including grants and legacies) are accounted for once the church has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Where material assets are donated to the church for its use, these are capitalised at the estimated market value at the date of the gift and included under income.

Other ordinary income: Rental income from the letting of church premises is accounted for when earned. Parochial fees due to the PCC for weddings, funerals etc. are accounted for on an event-by-event basis.

Expenditure

Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities. Charitable expenditure includes all support costs in respect of the church’s activities.

Grants: Grants and donations are accounted for when paid over or when awarded if that creates a binding obligation on the PCC.

Church activities: These costs are accounted for when payable.

Governance costs: These comprise expenditure on compliance with statutory legal requirements and are included in Church activities.

Page 16

Emmanuel Church, South Croydon

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

Fixed assets

Consecrated land and buildings and movable church furnishings: Consecrated land and beneficed property is excluded from the accounts by s.10 (2)(a) of the Charities Act 2011. No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off.

Other land and buildings: Other land and buildings held on behalf of the PCC for its own purposes are included at historic cost. Freehold land is not depreciated.

Where the charity adopts a policy of maintaining properties to a standard that prolongs their lives and enhances their residual value, the PCC considers any depreciation arising to be insignificant and the properties are not depreciated. In other cases, where the buildings do not satisfy these criteria, they are depreciated over 50 years. Assets in the course of construction are not depreciated until they are ready for use. Expenditure on maintenance is written off as incurred.

Otherfixtures, fittings and office equipment: Equipment used is depreciated on a straight-line basis over 5 to 8 years. Individual items of equipment with a purchase price of £5,000 or less are generally written off in the period in which the asset is acquired.

Debtors

Income tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash and cash equivalents

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity 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. Creditors and provisions are recognised at their settlement amount. Concessionary loans are included at historic cost.

Financial instruments

The Church only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Pensions

The charity contributes to a defined contribution scheme for staff. The amount charged to the statement of financial activities in respect of pension costs is the contributions payable for the year.

Page 17

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Emmanuel Church, South Croydon

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

4. STAFF COSTS

2021 2020
£ £
Wages and Salaries 138,826 121,108
Social Security Costs 5,548 1,447
Pension Contributions 2,764 2,135
147,138 124,690

Staff costs shown above are included in Note 3 within the heading of “Staff Costs”. The average headcount for employees employed by the Church during the year was 6 (2020: 6). There were no employees whose emoluments exceeded £60,000 (2020: none). Included in the above costs are termination payments of £11,800 (2020: £nil). These are recognised when legal agreement is reached.

5. FIXED ASSETS FOR USE BY THE PCC

Freehold Land
and Buildings Equipment Total
£ £ £
COST
At 1 January 2021 2,826,801 123,672 2,950,473
Additions - 19,760 19,760
Disposals - (80,865) (80,865)
At 31 December2021 2,826,801 62,567 2,889,368
DEPRECIATION
At 1 January2021 126,661 105,896 232,557
Charge fortheyear 42,240 5,739 47,979
Disposals - (80,865) (80,865)
At 31 December 2021 168,901 30,770 199,671
NET BOOKVALUE
At 31 December 2021 2,657,900 31,797 2,689,697
At31December2020 2,700,140 17,776 2,717,916

The freehold land and buildings comprise the church houses at 12 Hurst View Road, 5 Wells Close, 35 Whitmead Close and the Emmanuel Centre.

Page 20

Emmanuel Church, South Croydon

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

6. DEBTORS

2021 2020
£ £
Income tax recoverable 97,498 100,075
Other debtors&Prepayments 9,831 1,060
107,329 101,135
Te CREDITORS: amounts falling due within one year
2021 2020
£ £
Funds heldon behalfofaffiliated groups 7,145 8,605
Accruals and Other Creditors 47,950 30,929
Loans forEmmanuel Centre - 8,000
55,095 47,534

The Concessionary Loans for Emmanuel Centre in note 7 comprised interest free loans from members of the congregation to support the redevelopment of the Emmanuel Centre and bridge the temporary cash shortfall arising where pledges to support the project are made over a number of years. This loan was repaid in 2021.

  1. COMMITMENTS

Emmanuel leases a photocopier. The lease has two years remaining and the payments fall due as follows:

2021 2020
£ £
Amounts falling due within year 912
Amounts falling due between 2 to 5 years 836 1,748
1,748 2,660

Page 21

Emmanuel Church, South Croydon

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

9. ANALYSIS OF NET ASSETS BY FUND

UNRESTRICTED UNRESTRICTED RESTRICTED
2021 General
Fund		 Development
Fund		 Besttreieal
Funds
(Note 10)		 Total
£ £ £ £
Tangible fixed assets 26,457 2,663,240 = 2,689,697
Debtors 95,993 - 11,336 107,329
Cash atbank and in hand 287,905 325,260 46,815 659,980
383,898 325,260 58,151 767,309
yaramountsfallingduewithinone (50,724) (4,371) : (55,095)
Net current assets 333,174 320,889 58,151 712,214
Netassets 359,631 2,984,129 58,151 3,401,911

The Development Fund comprises unrestricted funds (typically received from legacies) designated to invest in people, projects and properties in furtherance of Emmanuel’s ministry.

Further analysis of restricted funds is provided in Note 10, Analysis of Restricted Funds.

UNRESTRICTED UNRESTRICTED RESTRICTED
2020 as aoe Restricted
Funds
(Note 10)		 Total
£ £ £ £
Tangible fixed assets 11,545 2,706,371 - 2,717,916
Debtors 90,668 250 10,217 101,135
Cash atbank and in hand 241,662 371,103 23,955 636,720
332,330 371,353 34,172 737,855
Creditors: amounts falling due within one
year (34,674) (4,860) (8,000) (47,534)
Netassets 309,201 3,072,864 26,172 3,408,237

Page 22

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

Emmanuel Church, South Croydon

10 ANALYSIS OF RESTRICTED FUNDS

Brought Carried
2021 Forward Income Expenditure Transfers Forward
£ £ £ £ £
Global MissionFund 10,196 8,028 (7,893) - 10,331
Hall RedevelopmentFund 2,899 29,738 - (29,738) 2,899
Vicarage Fund - 49,250 (17,406) - 31,844
Small Grants Fund 13,077 - - - 13,077
26,172 87,016 (25,299) (29,738) 58,151

The Global Mission Fund comprises specific donations given for the support of our own mission partners, regularly supported societies and other special appeals and projects as detailed in Note 12. The Hall Redevelopment Fund was originally established for the specific purpose of funding the redevelopment of the former church hall. The Emmanuel Centre was opened in 2018. Income for the year represents residual donations under 5-year pledges from members of the congregation. The transfer in the year to the unrestricted Development Fund represents partial repayment of funding for the project previously met from the Development Fund. The remaining balance represents the unspent balance of a grant for items of furniture. The Vicarage Fund comprises donations received towards remodelling the Vicarage. The PCC allocated £50,000 from the Development Fund towards this project. Expenditure for the year represents the costs incurred in excess of the £50,000 funded from the unrestricted Development Fund.

Small Grants Funds comprises grants from the Diocese and others in support of the Lighthouse and Caterpillars groups at Emmanuel.

Brought Carried
2020 Forward Income Expenditure Transfers Forward
£ £ £ £ £
Global Mission Fund 16,703 2,671 (9,178) - 10,196
Hall Redevelopment Fund 1,418,268 37,089 - (1,452,458) 2,899
Small Grants 13,077 - - - 13,077
1,448,048 39,760 (9,178) (1,452,458) 26,172

Page 23

Emmanuel Church, South Croydon

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

  1. RELATED PARTY TRANSACTIONS

Apart from the items disclosed below, there were no disclosable transactions in respect of members of the PCC, persons connected with them or other related parties. No PCC members received remuneration. Two members of the PCC received reimbursement of £2,024 (2020: one member received £909) for books and other ministry expenses.

No expenses were paid to third parties on behalf of the PCC (2020: £nil).

Members that served on the PCC during the year gave a total of £123,121 (2020: £116,824) to the General Fund, £nil (2020: £1,816) to the Hall Redevelopment Fund and £3,000 (2020: £nil) to the Vicarage Fund. The PCC made a grant of £5,000 (2020: £3,250) from the General Fund to The Salmon Youth Centre, a charity of which the spouse of one of our PCC members, Mary Knight, is a Trustee.

The PCC made a grant of £4,500 (2020: £3,250) from the General fund to International Needs, a charity of which one of our PCC members, Wendy Riches, is a Trustee. The PCC made a grant of £3,000 (2020: £nil) from the General fund to Langham Partnership a charity of which one of our PCC members, Pete Burt, is a Trustee. The PCC made a grant of £3,501 (2020: £nil) from the General fund to Daniel Spargo Mabbs Foundation, a charity which employs one of our PCC members, Carolyn Heath.

The PCC made a grant of £7,000 (2020: £8,675) from the General fund to Christian Family Concern, a charity of which one of our PCC members, Simon Smith, is a Trustee. The PCC madea grant of £1,000 (2020: £1,000) from the General fund to Kick London, a charity of which one of our PCC members, Pete Burt, is a Trustee.

The PCC made grants of £20,568 (2020: £20,285) to support Simon French working for Africa Inland Mission. His spouse, Suzanne French, is a PCC member.

Total remuneration of Key Management Personnel amounted to £nil (2020: £nil). Members of the close family of the Key Management Personnel received salary of £nil (2020: £nil), employers’ contributions of £nil (2020: fnil). A member of the close family of one of the PCC members received remuneration of £11,286 (2020: Enil).

Page 24

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

Emmanuel Church, South Croydon

12. DETAILS OF GLOBAL MISSION FUND GRANTS

----- Start of picture text -----
||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Support|of Own|Mission|Partners| |Simon|French|- AIM|20,568|20,285| |Jack &|Sarah|Winterburn|- ECM|7,001|-| |Donald &|Becky|Kamese|-|SIM|5,000|-| |Ruth Kade|Ministry|-|South|Sudan|4,300|1,250| |Dee Ameyaw|-|1,188| |36,869|22,723| |Regularly|Supported|Societies| |Christian|Family|Concern|7,000|8,675| |TEAR Fund|3,750|5,125| |Church|Pastoral|Aid|Society|3,750|2,625| |FEBA Radio|1,750|2,625| |Open|Doors|2,750|2,625| |Fusion|1,500|1,300| |Universities &|Colleges|Christian|Fellowship|1,500|1,300| |22,000|24,275| |Special|Appeals|and|Projects| |SU CIS — Tajikistan|5,250|7,000| |Croydon|Refuge Day|Centre|-|CTBC|Project|2,500|3,500| |Salmon Youth|Centre|5,000|3,250| |Egypt Diocesan|Association|-|Deaf Unit|2,000|3,250| |International Needs — Egypt|Project|3,000|3,250| |International|Needs|- Nepal|Women|Project|1,500|-| |Students|at Ugandan|Theological|Colleges|2,827|2,300| |Croydon|Community|Against|Trafficking|1,500|1,000| |Kick London|1,000|1,000| |A Rocha|International|-|Atewa Forest Project|in|Ghana|2,000|-| |A Rocha|International|-|Green|Spaces|Project|in|Lebanon|1,000|-| |Daniel|Spargo Mabbs|Foundation|3,501|-| |Kepplewray|Trust|-|Burundi|Bethesda|Project|1,750|-| |TEAR Fund|- Afghan|Appeal|2,000|-| |Langham|Partnership|3,000|-| |Evangelical|Alliance — Advocacy|Programme|-|1,000| |Other|gifts|and|grants|-|5,940| |37,828|31,490| |TOTAL|96,697|78,488| |Grants|made|in 2021|included|£7,893|(2020:|£3,799)|from|gifts|received|which|were|specified|by|donors|for| |particular mission|partners|or|projects.|

----- End of picture text -----

Page 25

Emmanuel Church, South Croydon

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2021

  1. RESTATEMENT Following a review and in order to give a better understanding of the accounts, certain comparative figures for 2020 have been restated. For 2021, the Global Mission Fund is now shown in its constituent components:

e Global Mission Fund (General Fund) from which grants, funded from the General Fund are made, and e Global Mission Fund (Restricted Fund) from which grants, funded by restricted donations, are made.

The effect of this restatement on 2020 is as follows:

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2020|General|Fund|Global|Mission|Fund|(Restricted)| |Previously|As|restated|Previously|As|restated| |stated|Adjustment|stated|Adjustment| |£|£|£|£|£|£| |Income|534,157|11,426|545,583|14,097|(11,426)|2,671| |Expenditure|(436,815)|(69,310)|(506,125)|(78,488)|69,310|(9,178)| |Net Income|97,342|(57,884)|39,458|(64,391)|57,884|(6,507)| |Transfer|between|Funds|(57,884)|57,884|-|57,884|(57,884)|ss| |Net Movement|in|Funds|39,458|“|39,458|(6,507)|.|(6,507)|

----- End of picture text -----

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