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2020-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF FULWOOD CHRIST CHURCH, SHEFFIELD

(Also known as Christ Church Fulwood)

Audited financial statements For the year ended 2020

Registered Charity Number 1134057

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Contents

Legal and administrative information 1 – 2
Report of the Council 3 – 13
Report of the independent auditor 14 - 16
Principal accounting policies 17 – 18
Statement of financial activities 19
Balance sheet 20
Statement of cash flows 21
Notes to the financial statements 22 – 31

1

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Legal and administrative information

Ecclesiastical parish: Fulwood Christ Church, Sheffield

Address:

Council members:

Canterbury Avenue Fulwood Sheffield S10 3RT Incumbent Rev. Paul Williams Cl Chair Associate Vicar Rev. Pete Scamman Cl Acting Chair* Assistant Curate Rev. Chris Tufnell (until 26 June 2020) Rev. Matt Lawes Cl (from 13 July 2020) Minister for Training Rev. Ben Cooper (until 31 August 2020) Minister for Students Rev. Andy Fearnley Cl Pastoral Care Coordinator Rev. Chris Conn (until 1 September 2020) Churchwardens Alan Butler W Jane Patterson W Deputy Churchwardens Tom Smiles Co Emily Davies Co Jenny Clemence Deanery Synod Tim Burkill (until 4 November 2020) representatives Catherine Cooper (until 4 November 2020) Paul Houghton (until 4 November 2020) Bob Edmonds E (from 4 November 2020) John Grant E (from 4 November 2020) Josef Korchinsky E (from 4 November 2020) Diocesan Synod Stephanie Dennis (until 21 September 2020) representatives Rev. Chris Tufnell (until 26 June 2020) Rev. Pete Scamman Rev. Chris Conn (until 1 September 2020) General Synod representative Jane Patterson Other co-opted member Paul Houghton Co PCC Treasurer In attendance Paul German A Mission Committee Chair Ian Harris A PCC Secretary Sally Hewson A Parish Safeguarding Officer

*Rev. Pete Scamman deputised for Rev. Paul Williams from 7 September 2020 until the date of this report

2

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Legal and administrative information

Council members (continued): Elected PCC members Stephanie Dennis (until 21 September 2020) Janet Gallaher (until 4 November 2020) Sally Hewson (until 4 November 2020) Joey Korchinsky (until 4 November 2020) Cherette Morley (until 4 November 2020) Sandy Priestley (until 4 November 2020) Richard Atkinson (until 4 March 2020) Jon Ulley (until 18 April 2020) Nick Field (until 31 July 2020) Max Broadbent E Heather Charlton E Jenny Clemence E Tom Cudmore E Dave Gill E Mark Houghton E Alison Linsky E Johnny Lockwood E Penny Simons E Becky Stephens E Alistair Wheatley E Heather Wilson E Richard Holland E (from 4 November 2020) Andrea Jordan E (from 4 November 2020) Bill Thomas E (from 4 November 2020)

PCC membership summary at the date of this report:

No.
Cl – Clergy (Voting) 4
W – Churchwarden (Voting) 2
E – Elected lay member (Voting) 18
Co – Co-opted onto PCC (Voting) 3
A – PCC attendee (Non-Voting) 3

Status: A charity registered with the Charity Commission

Bankers: Yorkshire Bank plc 66 Fargate Sheffield S1 2HE

Auditors: Hawsons Chartered Accountants Pegasus House 463a Glossop Road Sheffield S10 2QD

3

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council

Objective and Vision

The objective of the Parochial Church Council (‘PCC’) is to promote the gospel of the Lord Jesus Christ according to the doctrines of the Church of England. Under this overarching objective, the church seeks to glorify God by pursuing a threefold vision, established in 2008:

We are seeking to turn this vision into reality as set out in more detail below.

The incumbent and the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. The broad objective set out above and the detailed activities described below highlight some of the key benefits provided to a wide cross section of society, including residents of Fulwood parish, those further afield in Sheffield, and many others across the UK and the world.

Turning the vision into reality

The church’s vision includes an intention to plant new churches regularly within the Sheffield Diocese and the surrounding area. God-willing these churches will go on to plant further churches and it is the PCC’s prayer that this would continue until there is a Bible teaching church in every local community.

Since the launch of the vision in 2008, Christ Church Fulwood has been involved in five church plants, along with one church plant that was established in 2003. Each plant has been different – ranging from a group going with a leader to establish a new church family, to ‘grafts’ of Fulwood people joining with a smaller church to revitalise and encourage growth.

In addition to plants, the church has continued to strengthen its close ties with a number of other Anglican churches across the diocese, two of which are formalised as Mission Partnerships: St Andrew’s Kendray and St Thomas’ Kilnhurst.

Christ Church Fulwood supports the national ReNew initiative which, by God’s grace and in God’s strength, is committed to praying and working for a network of healthy, local Anglican churches throughout England. Locally, the growing network of plants, formalised Mission Partnerships and informal connections with Bible teaching Anglican churches is known as ReNew South Yorkshire. The PCC sees these regional supportive relationships between local like-minded churches as increasingly important.

----- Start of picture text -----
Churches involved in ReNew South Yorkshire
Christ Church Fulwood
Christ Church Central - Church Plant, October 2003
Christ Church Endcliffe - Church Plant, September 2009
Holy Cross Gleadless Valley - Church Graft, September 2011
Christ Church Walkley - Church Plant of Christ Church Central, September 2012
St Mary’s Wheatley - Church Graft, September 2017
Oughtibridge Parish Church - Church Graft, July 2020
St Andrew’s Kendray - Formalised Mission Partnership
St Thomas’ Kilnhurst - Formalised Mission Partnership
There are five additional churches with informal relationships
----- End of picture text -----

4

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

As a high priority, not least in order to plant, the church needs to train people to be leaders who are godly in character and able to handle correctly the word of God. Christ Church Fulwood seeks to train members of the church family in a wide variety of contexts and with different opportunities in mind – serving the local church in Fulwood, as leaders of church plants in Sheffield, or leading ministries all over the UK and around the world. The three primary contexts of training are as follows:

The vision for training leaders has led to a number of people being sent to attend full time residential theological training, in particular for ordination in the Church of England.

The PCC is committed to gospel work beyond the walls of the church buildings and beyond the boundaries of its parish. Many members of the church family are actively involved in wider areas of Christian ministry. The leadership continues to encourage members of the church family to consider training for Christian ministry elsewhere in the UK and overseas, and the PCC provides support for mission partners working in cross-cultural, youth & children, and other ministries.

1 Corinthians 13 teaches that love is the authentic mark of spirituality. As a bible teaching church, therefore, Christ Church Fulwood wants to be known as a loving church. In this context we aim for the church family to be growing spiritually and growing numerically , becoming mature disciples of Christ.

The church has a responsibility to see that every resident in Fulwood (whether friend, neighbour, colleague or family) has the opportunity to hear the gospel of Jesus Christ, and therefore there is a significant focus on evangelism. The church also encourages those who are part of the church family to be actively reaching out to the community through a variety

of practical ministries. And finally, the church recognises its obligation to consider the future development of the church buildings of which the current generation is steward, and this has led to the formation of our ‘Building for the Future’ programme.

Growing spiritually

The church seeks to grow disciples: to help everyone who is part of the church family to become mature in Christ Jesus. In addition to the Sunday teaching programme, most members of the church family belong to small groups in which they meet regularly to study the Bible, pray and encourage each other. The church also provides opportunities for church family members to be supported in areas such as marriage, parenting and being a Christian in the workplace.

Perhaps the most important event in the church’s diary is the monthly Church Family Prayer evening. This is vital for members of the church family to learn about and pray together for the work of the church, for mission partners and for current world issues, thereby demonstrating the church’s total dependence on our sovereign God.

There is continued encouragement for members of the church family to consider training for Christian ministry elsewhere in the UK and overseas, and support is provided for mission partners working in a variety of areas including cross-cultural environments, with youth & children, short term mission trips and those training for mission. The Mission Committee is responsible for distributing grants, for recommending new mission partners to the PCC and for ensuring gospel focus is maintained. The majority of this support goes to long-term mission partners.

Over recent years we have welcomed an increasing number of Mandarin speaking Chinese to our services and a Mandarin Fellowship meets monthly at Sunday lunchtime.

5

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

Growing numerically

The church seeks to reach out to the local community and beyond. Sunday services are open to all, with regular guest services specifically designed for those who are not familiar with church. Various events take place to make it as easy as possible for the church family to bring friends to hear about the gospel of Jesus Christ.

Routes into the church family are provided at all ages, including:

As well as facilitating routes of personal contact, the PCC recognises the importance of physical accessibility to the church premises for all people.

Reaching out to the community

The church family of Christ Church Fulwood believes that Christians should be practically involved in the community in many and varied ways. Church family members are active as school governors, working for the Samaritans or Citizens Advice Bureau, being trustees for charities, volunteering in local groups, on summer camps and in sports and social clubs. The church welcomes and encourages this kind of service.

The church also has more formal links to a number of ministries locally and beyond. These include:

6

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

Development of the church buildings

The physical buildings of Christ Church Fulwood should be a place where people of all ages come to know Jesus Christ, grow in that knowledge, and go on to serve him. The “Building for the Future” project is driven by that aim. In line with the church’s vision – to plant churches, train leaders and grow Fulwood – there is a need to adapt the site and buildings to make them more suitable, safe, and a place which is warm, light, welcoming and alive, reflecting the God whose message is proclaimed.

The church’s buildings have been at the heart of the community of Fulwood for more than 175 years. The fabric of the church building itself, the site and the church centre have evolved as needs have changed and as the buildings have aged. They have worked hard, and the main structures remain sound, but they are in need of attention. There are increasingly challenges of crumbling masonry, ageing electrics and inefficient and inadequate heating. The buildings are not as accessible and welcoming as they could be and at times they are actually hindering the church’s aims. After much prayer and consideration the PCC has been working on a project to provide buildings which are flexible, accessible and welcoming for gospel ministry, witness and service to the community for generations to come.

Review of the year

A year of challenge

The Coronavirus pandemic has dominated the national and international agenda during 2020. Christ Church Fulwood has faced the same issues as so many churches, with face-to-face activities being limited or prevented. As far as possible, most activities have transitioned online, with investment in technology and equipment being made to support ongoing ministry and care for the church family.

In the light of Covid, the PCC set up a Fulwood Hardship Fund – a restricted fund to which members of the church family were invited to contribute and which could be used for the relief of Covid-related hardship within the church family. By the end of the year, £30,964 had been given. Although no fund applications or distributions had been made by the year end, since the year end and prior to the date of this report, two support grants totalling £1,045 had been made, and further hardship cases are anticipated during 2021.

With Covid uncertainty, the PCC made claims totalling £7,994 under the government job retention scheme to support staff on furlough. However, in November the PCC made the decision that it would be appropriate to return the funds to the government, and the full amount was repaid in March 2021.

Alongside this, the incumbent, Paul Williams, has been off work since July 2020. A mutually agreed review of activities, by means of Bishop’s Visitation, is underway at the date of this report, and this is expected to conclude and make recommendations to the PCC within the next few months.

Finally, it is worth noting that, against a backdrop of the Covid environment and leadership absence, there has also been a significant change within the staff team. These three factors have, in particular in combination, made for a challenging year for the staff team and PCC. It has been good to keep being reminded that we have a sovereign Lord who is in control of all things.

Attendance and membership

Those who attend the church on a regular basis may sign up to the Electoral Roll, which is the formal membership of the Church of England, allowing members to vote at the APCM. The figures for the Average Sunday Attendance, counted during October each year, give a more reliable indication of the size of the church family. These show gradual growth in church numbers between 2014 and 2019. However, in accordance with Church of England instructions, given that there was minimal in-person attendance at services in October 2020 due to the pandemic restrictions, no counts were performed. The last data shown is for 2019.

7

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

----- Start of picture text -----
1,200
1,000
800
Sunday Attendance (16+)
600
Sunday Attendance (Under 16)
400 Electoral Roll at APCM
200
0
2014 2015 2016 2017 2018 2019 2020
----- End of picture text -----

Parishes have to renew their electoral rolls every six years in accordance with the Church of England’s Church Representation Rules. The last renewal was during 2019, when everyone who wished to be able to vote on church matters had to sign a new form. Typically, electoral roll numbers drop at this point as some church family members do not sign up again and others who have moved away over the six years may not have informed the church office. There was a gradual increase in roll members from 2013 to 2018,and then a slight fall in 2019. There was a further slight fall in 2020 with the Oughtibridge church plant and Covid pandemic providing little encouragement for new members to sign the roll.

Update - Vision

The vicar and PCC have been working closely with the Bishop of Sheffield and the diocese in pursuing Christ Church Fulwood’s desire to plant Bible teaching churches across the region. The most recent plant, was a group of 30 people who moved from Fulwood to graft into Oughtibridge Parish Church (‘OPC’) under the leadership of Rev. Chris Tufnell in summer 2020. There were challenges faced with launching a plant with the backdrop of Covid restrictions, but commissioning and launch events went ahead either online or in person in line with rules and guidelines. Those who have left are sorely missed, but the PCC is delighted that this plant has been able to go ahead in line with the church’s vision.

During the year, the church has continued its active support of the national ReNew initiative and, locally, a regional network of like-minded churches is now firmly established as ReNew South Yorkshire. Ministers from these churches are active in prayer and mutual support.

There are nine Ministry Trainees in the 2020-21 cohort. As well as receiving training, they help in many practical ways and contribute enthusiastically to church life.

The PCC is delighted to be working closely with the Yorkshire Gospel Partnership in the delivery of Bible Training Yorkshire (‘BTY’) throughout 2020. Training continued physically across two sites (or online where this was not possible) under the leadership of Minister for Training, Rev. Ben Cooper, until the summer. Ben was succeeded by Rob Mullock, who was appointed as Minister for Training with effect from July. Since the autumn, training has been delivered online on one day per week.

As well as regular Sunday services being unable to meet as normal, many events specifically designed to reach out to guests have had to adapt. The normal Carols by Candlelight services were replaced with three drive-in style Carols by Carlight services in the local NHS car park, as well as an online service. Christianity Explored or Encounters courses have continued to take place, although since March these have met online rather than in person due to the Covid restrictions. In total, 74 people (2019: 32 people) attended Christianity Explored or Encounters courses during the year.

“Small groups” continue to be attended by most of the regular members of the church – in total around 700 people continue to be members of “small groups”, most of which meet weekly to study the Bible passages being covered in the current Sunday sermon series. Most groups have continued to meet on internet video platforms for most of the year.

The Pastoral Care Coordinator, Rev. Chris Conn, left the staff team in September 2020 to pursue further studies. Over the prior two years he had developed and launched a system of structured pastoral care teams, designed to care for church family members facing particular moments of need.

8

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

Update - Development of the church buildings

The PCC appointed architects in 2014 and developed a substantial reordering plan over the succeeding 18 months. Relevant permissions were sought from the local authority and from the diocese over the following two years, culminating in the diocese’s rejection of a key element of the overall plan in late 2018.

In February 2019 the PCC relaunched a plan which was slightly reduced in scope. However, the aims and substance of the project remain unchanged.

In November 2020, despite the Covid challenges, the project was re-presented to the church family via a series of online meetings. Then, in February 2021, the PCC approved the appointment of the preferred contractor to carry out the majority of the proposed work under a £1.4m+VAT Design and Build contract. In March 2021, final local authority and Church of England permissions were obtained, enabling work to start in April, with the majority expected to be complete by December 2021. In addition to the contracted work, there will be professional fees and other completion work, which will take the overall project cost to a total of £2.15m.

As at 31 December 2020 the PCC held a restricted fund for the completion of the project of £1,533,000 (2019: £1,246,000). This includes Gift Aid of £246,000 claimed and received in the year. Based on the expected costs, at the date of this report there remains a final project funding gap of around £230,000, which the PCC will be seeking to close with additional grants and gift income in 2021.

Update - Safeguarding

The PCC has two volunteers who share the responsibility of Parish Safeguarding Officer, and part-time staff member was appointed in October to oversee the large number of DBS checks required for the staff and volunteers involved in the church’s activities.

The PCC continues to seek to implement all appropriate guidance and adopt best practice with regard to safeguarding, including safer recruitment processes. This is regarded by the PCC as an essential and integral element of the church’s good governance and risk management activity, although it has placed a substantially increased workload on a number of individuals, to whom the PCC is immensely grateful.

As at 31 December 2020, 212 (2019: 242) individuals within the church family had received safeguarding training, and 273 (2019: 295) individuals had current DBS checks for their work with the church.

Update - Staff

Gareth Wroe, who had worked in the Fulwood Youth and Families’ ministry since 1995 left the team in autumn 2020. Andy Cook joined as Youth Worker in June 2020 and Fiona Marsden as Families, Youth and Children’s Administrator from November 2020.

The PCC has spent time reviewing the structure of its administrative and operational functions during 2019 and 2020, and is delighted that Rev. Stephen Rae will be taking up the role of Director of Operations during April 2021. Whilst this role has been vacant, since mid-2020 the PCC has retained a professional HR consultant on a number of hours per month to assist with regular and one-off projects.

As noted in last year’s report, Steph Johnson, who has been working on the administrative team for six years, has been appointed as Female Students’ Worker, although her transition to the new role has been delayed until later in 2021. Carolyn Edmonds, who has worked on the administrative team for 25 years, was due to retire in late 2020, but this has also been delayed until later in 2021. The church’s Finance Manager, Sarah Lightfoot, left the team in August, and was replaced by Erin Clarke, who stepped up into the more senior role from September. Erin is now assisted by Becky Knapp, who joined the team in January 2021. Finally, Anna Wade was appointed as a part-time staff member on 1 October 2020 to oversee the DBS checking process. The PCC is deeply grateful for the entire administrative team’s commitment through a challenging period of time.

Rev. Chris Tufnell left Christ Church Fulwood in June 2020 to lead Oughtibridge Parish Church as part of the church graft. A new curate-in-training, Rev. Matt Lawes, has taken Chris’s place, with the probable intention of him leading a church plant in due course.

Rev. Ben Cooper, Minister for Training, left in summer 2020 to take up a role with the Cornhill Training Course in London. Ben was succeeded by Rob Mullock, who was appointed as Minister for Training with effect from July.

Rev. Chris Conn, left the staff team in September 2020 to pursue further studies. At the date of this report the future plans for the Pastoral Care Coordinator role remain under discussion.

Sonia Crossley, Pastoral Care Assistant left the team in the summer of 2020 following the end of her two year contract. Sonia and her husband, Jim, have moved to Chapeltown, where Jim has taken up a curacy at St John’s church.

9

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

Update - Wider church

The PCC received regular updates from those members who also sit on General, Diocesan and/or Deanery Synod. The Council is pleased to be represented at all levels within the Church of England’s governance structures, and is grateful for the time and commitment shown by those PCC members who give generously of their time.

The Rt Rev. Rod Thomas, Bishop of Maidstone, who is licensed as an Assistant Bishop of Sheffield, continues to have an active and close relationship with Christ Church Fulwood. His role is to offer extended pastoral and sacramental care to those parishes and clergy holding a complementarian understanding of ordained ministry, which is an essential part of the Church of England’s approach to ensure mutual flourishing of different church traditions.

The PCC continues to be concerned at the direction of travel on some of the issues being discussed at national level within the Church of England, not least relating to gender and human sexuality. It has already started to give some careful thought to the “Living in Love and Faith” report from the House of Bishops, released in November 2020. The PCC has firmly on its agenda the potential implications of this on the long-term opportunity for ministry within the Church of England.

On a global scale, the PCC is pleased to be associated with the GAFCON movement.

Future Plans

Over the year ahead, notwithstanding the ongoing Covid challenges, the PCC will continue to focus on the threefold vision of the church: Planting Churches, Training Leaders and Growing Fulwood.

With this backdrop, the following significant discussions are anticipated during 2021:

Going concern

Finally, the PCC would note that it continues to monitor its financial situation closely, no more so than at the start of the major building work being undertaken in 2021. There has been a reduction in regular giving over the past 18 months, and the PCC notes that Covid has caused challenges in the church’s ability clearly to communicate regular giving needs, especially to newcomers. This will be addressed in either late 2021 or early 2022, depending on the timing of communications relating to the building project.

The PCC has carefully considered a detailed budget for 2021 and a forecast extending into 2022, therefore covering a period of at least 12 months from the date of these financial statements. Although the budget and forecast anticipate deficits, overall, the PCC continues to be reassured that the church’s giving base is broad and its current level of free reserves is strong. Given this positive assessment of its financial resilience, the PCC is satisfied that it is appropriate to prepare the accounts on a going concern basis.

10

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

Financial Review

Income Unrestricted Funds Unrestricted Funds Unrestricted Funds Total
£'000		 Restricted Funds Restricted Funds Restricted Funds Total
Funds
£'000
General
Fund
£'000		 Growth
Fund
£'000		 FSW*
Fund
£'000**		 RSY*
Land &
Fund Buildings
£'000
£'000**		 Building for
the Future
£'000		 Other
Funds
£'000		 Total
£'000
Gift income
- regular
- collections
- one-off
- total
Other income
Total income		 769
5
64		 -
-
3		 -
-
-		 -
-
-		 -
-
-		 769
5
67
841
27
868		 74
-
300		 39
-
74		 113
-
374		 882
5
441
838
27		 3
-		 -
-		 -
-		 -
-		 374
20		 113
14		 487
34		 1,328
61
865 3 - - - 394 127 521 1,389

*FSW = Female Students’ Worker fund; RSY = ReNew South Yorkshire matched fund

Expenditure Unrestricted Funds Unrestricted Funds Unrestricted Funds Total
£'000		 Restricted Funds Restricted Funds Restricted Funds Total
Funds
£'000
General
Fund
£'000		 Growth
Fund
£'000		 FSW*
Fund
£'000**		 RSY*
Land &
Fund Buildings
£'000
£'000**		 Building for
the Future
£'000		 Other
Funds
£'000		 Total
£'000
Parish
- staff costs
ministry
- other costs
- governance
- total
Activity outside the parish
Total expenditure		 449
254
10		 -
-
-		 -
-
-		 -
-
-		 -
-
-		 449
254
10
713
142
855		 -
107
-		 11
12
-		 11
119
-		 460
373
10
713
140		 -
-		 -
-		 -
2		 -
-		 107
-		 23
41		 130
41		 843
183
853 - - 2 - 107 64 171 1,026

11

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

Financial result and year end position

Net assets: Unrestricted Funds Unrestricted Funds Unrestricted Funds Land &
Total Buildings
£'000
£'000		 Land &
Total Buildings
£'000
£'000		 Restricted Funds Total
Funds
£'000
General
Fund
£'000		 Growth
Fund
£'000		 FSW*
Fund
£'000**		 RSY*
Land &
Fund Buildings
£'000
£'000**		 Building for
the Future
£'000		 Other
Funds
£'000		 Total
£'000
1 January 2020
Surplus/(Deficit)
Transfers
Surplus/(Deficit) after tfrs
31 December 2020
Net current assets		 418
12
15		 71
3
(16)		 46
-
-		 40
(2)
-		 -
-
604		 575
13
603		 575
-
(575)		 1,246
287
1		 45
63
(29)		 1,866
350
(603)		 2,441
363
-
27 (13) - (2) 604 616 (575) 288 34 (253) 363
445 58 46 38 604 1,191 - 1,534 79 1,613 2,804
414 58 46 38 - 556 - 1,526 79 1,605 2,161

*FSW = Female Students’ Worker fund; RSY = ReNew South Yorkshire matched fund

Reserves policy

The PCC aims to maintain sufficient General Fund free reserves (General Fund net current assets) to cover one month’s worth of annualised General Fund recurring expenses plus a provision of £40k for unforeseen property costs. Based on the 2021 budget approved by the PCC, this equates to a round sum threshold of £124k (2019 reserves threshold: £131k). At the year end, General Fund free reserves were £414k (2019: £402k) and therefore the policy threshold was exceeded by £290k (2019: £271k). This excess is considered appropriate given the various capital projects that are planned over the next couple of years.

12

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Report of the Council - continued

Structure, Governance and Management

The Parochial Church Council of Christ Church, Fulwood (the ‘PCC’ or the ‘Council’) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure, and is also a registered charity with the Charity Commission.

As noted above, the objective of the PCC is to promote the gospel of the Lord Jesus Christ according to the doctrines of the Church of England. The PCC will continue to shape all its activities to fulfil this mission under God, in particular through the threefold vision of Planting Churches, Training Leaders and Growing Fulwood.

The PCC has the responsibility of co-operating with the incumbent, Rev. Paul Williams, in promoting the whole mission of the Church within the Ecclesiastical Parish of Fulwood. It is also responsible for the Church Centre and the owned and leased staff houses.

Members of the PCC are either ex-officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules. The PCC Treasurer has been co-opted by the PCC throughout the year. The PCC Secretary and the Chair of the Mission Committee were co-opted by the PCC until 16 November 2020, after which they were in attendance and non-voting. At the request of the incumbent and the wardens, certain members of non-clergy church staff attend PCC meetings but, as they are not eligible to vote, they are not PCC members.

The PCC operates through a number of sub-groups or committees, which meet between full meetings of the PCC. The six committees extant at the date of this report are detailed below. Other committees are convened as and when the need occurs. The full PCC met 11 (2019: nine) times during the year with an average attendance of 84% (2019: 79%). The PCC handbook explaining the policies, procedures and committee structure is issued to all new members. Additional training is identified as appropriate.

Committee Responsibilities

Standing Committee (previously ‘Vicar’s Council’)

To have a prayerful approach to the development of the spiritual needs of the church and parish, exercising a strategic and visionary role. It is responsible for monitoring developments and, under the agreed delegated authority limits, transacting PCC business that may arise in the intervals between PCC meetings.

Finance Management Group

To facilitate effective financial planning and budget management. Areas of responsibility include:

Mission Committee

To glorify God by serving the church family of Christ Church Fulwood through informing, equipping, sending and supporting Christians to minister in different cultures in the UK and throughout the world.

Building for the Future Committee

To assist the PCC in reviewing the church's non-residential property in the light of its current and future needs. It concentrates on making the whole church complex as attractive, accessible and effective as possible in serving the PCC's objectives. It has a specific and major responsibility for the successful reordering of the church buildings over the next few years.

Staffing Subcommittee

To be responsible for supporting the Vicar and PCC in seeking to uphold best practice in employment, and to pastorally care for all the staff team. This includes areas of compliance, recruitment, line management, appraisal, training and development, culture and communication. The Group has the opportunity to draw on external professional HR expertise as needed.

Safeguarding Committee

To be responsible for implementing and overseeing the policies and procedures regarding the safeguarding of children and adults at risk at Christ Church Fulwood, having due regard to the House of Bishops’ current safeguarding policy and guidance.

Christ Church Fulwl Financial stateM￿ts for the year ended 31 D￿Mter 2020 13 Report of the Council- continued The variow PCC 5ubconhnitttts 4Ad the stsff de21 wtth cotL8ider a Yanery of ¥t¢as of rtsk tts 74hich the djwd) may be exposed. Such are95 inclu(k health And safery issues. Di5biJity DiSCtin￿00n Att iSSUeSJ ￿loY¢rent law Truste￿, nMponslblllt1￿ •la1•m￿t Accouftting Practice). each fin2rtayJ ytsr which we 2 ITr￿ and fair view of the tsf ffaJE5 oFthe Council #nd of the rtsourtes Tequired w.. observe the n￿bod$ and piirtcipks in the ¥P]l￿b￿ Clwities SORP (FKS 102k' make judwts and e5ti11ates that are le￿Onb]e atsj prudent" sure ththcr applicable accountiDg stsndards hav¢ Ix¢n fo]kntd. ¥ubicct gmtuiai departure5 that must be disclosed uplained in the fthancd stLiements: and prepare rhe fmaticiai statetttuts on the 80ia8 concem basis udess itis th¥ppryJpiiate to prtSUll￿ that the Council wiIE continue in Fxjsitiess. the finartcial position of the Counol and tsubbe thth) to ettsure djat tht finarKial ststennts cwly the Chatitie5 .4ct 2011, the app]ic2b]c Cl)¥ritits {Accow)ts Rq)orts} Reguhtions and the provi510n5 OE the Churclx Accounii Re￿1￿￿tiOnS 21X)6. They ¥re al80 resp)nsAkAe f0rSfewrth￿ the assets o(thtCowxcil ¥lld h¢ott fortskts¥ ttsonable steps for the prevention md detection of ￿ud atxd other i"tirs. the fflember5 h/ve t¥ken all steps tht tly oughr io har r¥ken to makt aware of ony relevant audir itiformatii)n ¢srab]ish that the auditots of that ir&ormatio Qrt behalf of the PCC P ScaDJmAo Associate Vicat 15 M9￿h 2021

14

Independent Auditor’s Report to the Trustees of Christ Church Fulwood

Opinion

We have audited the financial statements of Christ Church Fulwood (‘the charity’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, Balance Sheet, Statement of cash flows, notes to the financial statements and significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 charity 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 trustees’ 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 charity’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 directors 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 trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees 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.

15

Independent Auditor’s Report to the Trustees of Christ Church Fulwood (Continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees 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 the trustees 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 trustees are responsible for assessing the charity’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 trustees either intend to liquidate the charity 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 144 of the Charities Act 2011 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:

The charity is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the company and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102, Charities Act 2011 and Health and Safety regulations. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the charity’s result for the period, and management bias in key accounting estimates.

16 Independent Auditor's Report to the Trustees of Christ Church Fulwood (Continued) .lud]t procedures pcrEormed b)" the eng4erncni ie2m Lncluded.. DJscu5SLon5 %VLth managemerlt #nd those tr$pOn￿bk for lepl co[ry¥lt￿cc Pr(￿edUceS ￿￿t￿n the chrity to obraiti an undersrAndLng of the legjj 2nd reguh￿rI. framew￿rK ppkncable ro rhe chann 2nd hO￿- the ch2rit!' compli¢s tvirh thar frame￿￿)￿[ Jnrludthw c¢)nsKle(#lK>n of knvwn or 5Uspccrcd thsttnces of non-complwnce wih regulation5 ftd fraiLd. R¢i'i¢wLng minuies ol rrustee ￿￿etings. Jdeniifjing and assessing tht d¢swi tffeciiveness of conito15 that hs Ln ptsce ro pmrnt and delect frAud and non-compl￿nCe wirh laws and r¢8uhtions: Ch2llenging assumptions 2nd judgtrntnts rnd¢ b)" m￿¥¢me￿I m their 51gnificanr ￿cOUntIng tsiimtts. Id¢ntif)'Jn8 nd rr5ring ityuiThal cnrt5. in pJrtKuhr an)" purnal enrr￿S ￿Sled vrh unusual acctsjnr c¢)mbJnations or PD51¢d b!" scnior managetneThi. .1 futrher d¢5¢nptson oEour re5pon5ibi]itiCs for the audJ"t of the fu￿n¢%￿ srarctncnts 15 located csn rhe Fjnancial Rtp()riltJ¥ Loun¢il'$ wcb51te ar". .Irc.o auditor5res nsibilJttrg_Thts ¢ks¢npuon ftsnn5 parr olour 2u(hior's rtport. FI?￿50￿5 Ch%iiertd.l¢counixnts ￿ eb"8Jbie for appoinrrnent as auditor ¢)f ihe ch%rin- kn. Imue of Lfs ebgJ"bth"n- for ap￿1n1￿¢￿t as a￿[0￿ ofa ¢omwani under secDon l?12 of rhe ComP￿￿-{cr 11￿. Use of our report 11u5 reporr LS made sokl) ro the ch2rkn s tnLsre¢4 Is 9 I￿15.. in acc(kne T*ith sc(tion 144 of the Chxtjrits .4ci ZOI I. (IiiT audsr work ha5 been underigken so thai we mighi 5rafe to tht tnjsfrts ihosc mAricr5 wc are re4uired to slate 10 them Jn an auditor'5 rew)rt and foT n() oihrr puq>05c. To the tullest exrcnt permktted b!. la￿.. ￿.¢ do noi acccpi or a55unie responsibLlirn' to anl'ont (>ih¢r than the chrin"'s ttusiees as a b(xl!-. for our lor rhis rtptst¢, or for the opjruons we havc Corrned. Hawsons Cho¥rcred.4ccouniantt 5ianir0n-.lL￿lr0r PcgI5Us 14tsu5C 463A C,ltssgop knd htEILeld 510212D .Ipni 2021

17

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Principal accounting policies

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value convention except for the valuation of certain property and investment assets, which are shown at capitalised or market value as below. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs.

The PCC constitutes a public benefit entity as defined by FRS 102.

Funds

Unrestricted Funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Certain Unrestricted Funds may be earmarked for a particular purpose - these are known as Designated Funds.

Restricted Funds are those funds which the PCC must apply to specific purposes created either by donors' requests or legal obligations. These funds are therefore not available for application on the general purposes of the PCC.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law.

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations and legacies

Regular giving is recognised only when received. Income tax recoverable on Gift Aided general donations is accrued for on a monthly basis, based on the donation date. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due is quantifiable and its ultimate receipt by the PCC reasonably certain.

Although the PCC is legally entitled to claim Gift Aid tax on donations received in respect of major projects, the PCC’s policy is not to reclaim tax where there remains any significant doubt about whether a project will proceed as proposed. For this reason, Gift Aid tax was only reclaimed on donations to the Building for the Future project once permissions were substantially received and the PCC had made a final decision to progress with the project.

Other income

Rental income from the letting of church premises is recognised when the rental is due.

Bank interest is accounted for when receivable.

Deferred income relates to events which will take place in future accounting periods.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and includes irrecoverable VAT.

Grants to mission partners

The church supports mission partners in the UK and around the world. Where a particular mission partner has been supported by the church for a number of years, strict compliance with the Charities' Statement of Recommended Practice (SORP) may regard some arrangements as constituting constructive obligations such that future years' support is accounted for in these accounts as a liability.

Whilst the support has no final end date, the Council assesses mission partner funding on an annual basis and is confident that the mission partners would not view their support as an open ended obligation on the part of the Council. The annual commitment only is accounted for in these financial statements.

18

Christ Church Fulwood Financial statements for the year ended 31 December 2020

Principal accounting policies

Fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated and benefice property is excluded from the accounts by s.10(2)(a) of the Charities Act 2011.

Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's inventory which can be inspected at any reasonable time. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life (initially over 10 years) on a straight-line basis.

All expenditure incurred in the year on consecrated or beneficed buildings, on individual items with a purchase price below £500 and on the repair of movable church furnishings acquired before 1 January 2000 is written off.

Other land and buildings

These have been included at valuation when capitalised, or at cost where acquired during the year. The carrying values of tangible fixed assets previously valued when capitalised have been retained at their book amount as a deemed cost on transition to SORP FRS 102.

No depreciation is provided on freehold land and buildings. It is the policy of the PCC to maintain its properties in such a condition that their value is not impaired by the passage of time. The residual value is similar to its carrying value and therefore depreciation would be immaterial.

Other fixtures, fittings and office equipment

Equipment used within the church premises, including IT and Communication Equipment, is depreciated on a straight line basis over four or five years, depending on the most appropriate useful economic life. Residential Property Fixtures and Fittings are depreciated on a straight line basis over 10 years. Individual items of equipment with a purchase price of £500 or less are written off when the asset is acquired.

Motor vehicles

Motor vehicles are depreciated on a straight line basis over eight years.

Leased assets

Payments made under operating leases are expensed on a straight-line basis over the lease term.

Pensions

The charity opened an auto enrolment compliant stakeholder pension scheme with the People’s Pension to which all contributions to employees’ retirement benefits are paid in to.

All contributions to pension plans are charged to the Statement of financial activities in line with recognition of earnings and in accordance with the rules of the scheme.

Going concern

The current Covid-19 pandemic has given rise to an unexpected level of uncertainty for the church. After due consideration of all relevant factors the budget indicates that the church should be able to continue to operate for the foreseeable future.

The PCC therefore have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

Christ Church Fulwood

19

Financial statements for the year ended 31 December 2020

Statement of financial activities

Note
Income from
Donations and legacies
1
Charitable activities
2
Investments
3
Total Income
Expenditure on
Charitable activities
Ministry expenses
4
Mission, diocesan and other support
5
Total Expenditure
Net income before transfers
Transfers between funds
12b & c
Net movement in funds after transfers
Total funds brought forward at 1 January
Total funds carried forward at 31 December		 General
fund
£
838,098
27,040
-
865,138
712,744
139,859
852,603
12,535
16,071
28,606
418,337
446,943		 Designated
funds
£
2,815
-
-
2,815
-
1,700
1,700
1,115
587,677
588,792
156,980
745,772		 Restricted
funds
£
487,728
13,673
19,907
521,308
130,356
40,680
171,036
350,272
(603,748)
(253,476)
1,865,396
1,611,920		 Total
2020
£
1,328,641
40,713
19,907
1,389,261
843,100
182,239
1,025,339
363,922
-
363,922
2,440,713
2,804,635		 Total
2019
£
1,074,611
104,221
22,565
1,201,397
876,525
190,334
1,066,859
134,538
-
134,538
2,306,175
2,440,713

Christ Church FU￿rLY1 Finanoal Stslen￿ts￿ tt ye¥ended 31 C￿￿￿ter SJ20 Balan￿ sheet 2019 Fixed ￿￿ett "I"attBblL' asstts 591 Cuffent a58ets l)Lbr() Jrt i<Ym Ikp(Mrs (.ath at b￿k Jtt hTrd io 14 14 2t.133 1.SJl,426 L075N3 2.188.713 1,874.467 CredifvTh.' fallinE due viithio ootyer 12A9821 125.1341 Nei awse 1161.731 1.849,333 Totsl uet aB•ets 2440.713 Fuuds (IL11LY IX.%ixnat< .1 [In￿&￿ic[cd RL.%iTi(reJ Totsl clwity 44943 745.772 1,194715 .6tL920 418.337 156.9 575.317 I,R64.396 1440713 12 12 'lThc fiD3tLciAI were tht part￿1￿ (J]￿ 15 hlgrth Xf21 lhalf bT. P Scmm PR HIWIO I¥Y-"I'rLXutLr

Christ Church Fulwood

21

Financial statements for the year ended 31 December 2020

Statement of cash flows

Note
Cash flows from operating activities
Net cash provided by operating activities
13
Cash flows from investing activities
Bank interest received
Proceeds from the sale of fixed assets
Purchase of fixed assets
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
14		 2020
£
341,934
19,907
688
(59,485)
(38,890)
303,044
1,853,334
2,156,378		 2019
£
128,268
22,565
865
(1,999)
21,431
149,699
1,703,635
1,853,334

Christ Church Fulwood

22

Financial statements for the year ended 31 December 2020

Notes to the financial statements

1 Donations and Legacies

Regular giving
Gift Aid donations
Tax recoverable
Non Gift Aid donations
Subtotal
Collections
Gift Aid donations (small donations scheme)
Tax recoverable
Non Gift Aid donations
Subtotal
One-off donations and bequests
Gift Aid donations
Tax recoverable
Non Gift Aid donations
Subtotal		 General
Funds
£
512,484
128,121
128,504
769,109
-
-
5,285
5,285
29,073
7,268
27,363
63,704
838,098		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
2,815
2,815
2,815		 Restricted
Funds
£
37,266
58,757
17,211
113,234
-
-
-
-
81,100
214,760
78,634
374,494
487,728		 Total
2020
£
549,750
186,878
145,715
882,343
-
-
5,285
5,285
110,173
222,028
108,812
441,013
1,328,641		 Total
2019
£
588,516
142,286
148,998
879,800
8,000
2,000
10,352
20,352
102,895
23,724
47,840
174,459
1,074,611

Regular giving represents amounts received by standing order and the envelope scheme. Collections represents amounts received from Sunday collections (excluding envelopes under the envelope scheme). One-off donations and bequests represents all other gifts received.

£838,098 (2019: £960,823) was received into the General Fund and £2,815 (2019: £1,000) was received into the Growth Fund.

£487,728 was received into Restricted Funds (2019: £112,788), of which £373,948 was received into the Building for the Future Fund. With the building project entering its final approvals phase, the PCC authorised Gift Aid to be claimed in November 2020. This reclaim amounted to £246,093 being the main element of the Restricted Fund tax recoverable in the year.

2 Income from charitable activities

Parish ministry (including fees)
Children, Youth and Students
Church Centre lettings
Other		 General
Fund
£
9,407
9,028
1,758
6,847
27,040		 Restricted
Funds
£
13,673
-
-
-
13,673		 Total
2020
£
23,080
9,028
1,758
6,847
40,713		 Total
2019
£
50,970
48,887
3,126
1,238
104,221

£27,040 (2019: £88,193) was General Fund income and £13,673 (2019: £16,028) was Restricted Funds income.

Christ Church Fulwood

23

Financial statements for the year ended 31 December 2020

Notes to the financial statements

Bank interest
4
Ministry expenses
Note
Parish ministry
Students, Youth, Children and families
Administrative salaries
Other administrative costs
Property and facilities
Reordering project
Depreciation and loss on disposal of assets
Support costs
6		 General
Fund
£
-
General
Fund
£
349,741
172,487
110,425
16,220
46,647
-
7,273
9,951
712,744		 Restricted
Funds
£
19,907
Restricted
Funds
£
23,238
-
-
-
-
107,118
-
-
130,356		 Total
2020
£
19,907
Total
2020
£
372,979
172,487
110,425
16,220
46,647
107,118
7,273
9,951
843,100		 Restricted
Total
2019
£
22,565
Total
2019
£
405,609
226,634
103,285
18,408
68,127
41,155
5,857
7,450
876,525

£712,744 (2019: £803,570) was General Fund expenditure and £130,356 (2019: £72,955) was Restricted Funds expenditure.

Note
Support for mission partners:
- Mission Committee allocations
19
- Designated gifts
Common Fund diocesan support
Vicar's discretionary support
Church graft support costs
ReNew South Yorkshire
Support of other Anglican organisations
Christ Church Endcliffe - designated gifts
Matched Funding to ReNew South Yorkshire churches		 General
Fund
£
124,868
240
125,108
10,000
243
1,000
2,508
1,000
-
-
139,859		 Designated
Funds
£
-
-
-
-
-
-
-
-
1,700
1,700		 Restricted
Funds
£
-
21,553
21,553
-
-
17,252
-
-
1,875
-
40,680		 Total
2020
£
124,868
21,793
146,661
10,000
243
18,252
2,508
1,000
1,875
1,700
182,239		 Total
2019
£
150,009
16,747
166,756
5,000
629
5,625
7,824
-
4,500
-
190,334

£139,859 (2019: £169,098) was General Fund expenditure, £1,700 (2019: £nil) was Designated Funds expenditure and £40,680 (2019: £21,236) was Restricted Funds expenditure.

Christ Church Fulwood

24

Financial statements for the year ended 31 December 2020

Notes to the financial statements

The amount paid to the Diocese of Sheffield during the year comprised three main elements:

Common Fund contributions
Fulwood Staff (excluding the vicar and
curate)		 Ministry
Expenses
£
112,647
65,641
178,288		 Diocesan
support
£
-
10,000
10,000		 Total
2020
£
112,647
75,641
188,288		 Ministry
Expenses
£
124,711
65,115
189,826		 Diocesan
support
£
-
5,000
5,000		 Total
2019
£
124,711
70,115
194,826

As shown in the analysis above, all the costs relating to clergy are included in Ministry Expenses under the relevant ministry area (see note 4 above). Only the element representing the PCC’s contribution towards diocesan central costs is included in Common Fund diocesan support (see note 5 above).

General
Restricted
Total
Funds
Funds
2020
£
£
£
Audit
4,440
-
4,440
Legal & Professional fees
5,511
-
5,511
9,951
-
9,951
General
Restricted
Total
Funds
Funds
2020
£
£
£
Wages and salaries
229,045
-
229,045
Social security costs
19,393
-
19,393
Pension costs
33,243
-
33,243
281,681
-
281,681
Average number of full-time equivalent employees
8.1
Staff costs, PCC remuneration and expenses, and the cost of key management personnel		 Total
2019
£
4,950
2,500
7,450
Total
2019
£
218,084
14,498
30,576
263,158
7.7

No employee earned £60,000 per annum or more in the current or preceding accounting period.

PCC members were not paid and did not receive any other benefits in their capacity as PCC members in the year (2019: £nil) neither were they reimbursed expenses in their capacity as PCC members during the year (2019: £nil).

The key management personnel of the charity comprise the PCC members, which include the clergy. The cost of remuneration of Fulwood clergy as per Note 5 was £178,288 (2019: £189,826). Other clergy expenses, including housing costs, were £79,926 (2019: £84,943).

Christ Church Fulwood

25

Financial statements for the year ended 31 December 2020

Notes to the financial statements

The following employees were employed by the PCC whilst being voting PCC members, or were spouses of voting PCC members during the year:

Employee
Position
C Edmonds
F Lockwood
Wife of PCC member
Wife of PCC member		 Remuneration
benefits
£
21,096
22,072		 Expenses
£
-
737

Remuneration benefits include salary, employer National Insurance contributions and pension contributions. Expenses relate to travel and mobile phone provision.

8 Related party transactions

PCC members and key management personnel (and families) donated £145k before Gift Aid without conditions, which are included within the unrestricted total of Note 1. PCC members and key management personnel (and families) donated £34k before Gift Aid to restricted funds, however these are all donations to existing funds and do not place further restrictions on the use of these funds. (Where a PCC member has only served for part of the year, donations are included for the whole of the financial year.)

In addition to the disclosure included in Note 7 regarding remuneration of key management personnel and their close family, the following members of the PCC, or PCC member’s close family received amounts during the year for services provided or as grants:

The Brookhouse Hill Trust received £31,800 for the rental of 50 Brooklands Crescent and 7 Whitfield Road. The trustees of the Brookhouse Hill Trust during the year were Rev. Paul Willams, Paul Houghton and Rachel Field (the spouse of Nick Field, a PCC member during the year). This trust is not controlled by Fulwood PCC. The amounts paid are considered by the PCC to be either market price or at a discount to market price.

Paul German is the Chair of the Mission Committee, which is delegated responsibility for the mission support budget. Paul was also a trustee of The Oakes Trust (Sheffield) ('The Oakes') for part of the year. Some individuals and families who work at The Oakes receive mission support. Paul withdraws from any Mission Committee discussions on quantum or proportion of Oakes support to avoid a conflict of interest.

During the year, the PCC passed on gifts of £17,252 to Oughtibridge Parish Church ('OPC'). These related to support donations for OPC, a church graft during the year. A number of PCC members are linked with OPC, however, the PCC considers that all potential conflicts of interest were managed appropriately.

During the year, the PCC passed on gifts of £5,894 to the Langsett Trust. These related to support donations for gospel ministry in North Sheffield. Rev. Chris Tufnell (a PCC member during the year) and Rachel Field (the spouse of Nick Field, a PCC member during the year) are both trustees of the Langsett Trust. The PCC considers that all potential conflicts of interest were managed appropriately.

During the year, the PCC had use of the office building at 2A Canterbury Avenue, a property owned by the Torridon Trust. The building was rented by the PCC for a peppercorn rent. Paul Houghton, a PCC member, and Debs Houghton, his wife, are trustees of the Torridon Trust.

During the year, the PCC opened a deposit account with Kingdom Bank Ltd, which held funds of £259,335 at 31 December 2020. Paul Houghton, a PCC member, was a director of the company. Paul withdraws from any PCC decisions relating to the placing of funds with Kingdom Bank.

During the year, the PCC made a donation of £1,000 to the Anglican Mission in England ('AMiE'). Paul Houghton, a PCC member, was a trustee of AMiE during the year and withdrew from any PCC decisions relating to transactions with AMiE.

Christ Church Fulwood

26

Financial statements for the year ended 31 December 2020

Notes to the financial statements

9
Tangible fixed assets
Land &
buildings Equipment
£
£
Cost
At 1 January 2020
575,000
88,154
Additions
28,577
12,743
Disposals
-
(2,824)
At 31 December 2020
603,577
98,073
Depreciation
At 1 January 2020
-
81,037
Charge for the year
-
4,731
Disposals
-
(1,774)
At 31 December 2020
-
83,994
603,577
14,079
575,000
7,117
10
Debtors
Income tax recoverable
Prepayments and accrued income
11
Creditors
Accruals and deferred income
12
Analysis of Funds and net assets by Fund
Fixed assets
Current assets
Current liabilities
Net book amount at 31
December 2020
Net book amount at 31
December 2019		 Fixtures
Motor
and fittings
vehicles
£
£
105,741
17,436
-
-
-
-
105,741
17,436
105,741
8,173
-
2,180
-
-
105,741
10,353
-
7,083
-
9,263
General
Designated
Fund
Fund
£
£
31,162
603,577
435,645
142,195
(19,864)
-
446,943
745,772
Unrestricted Funds		 IT and
Communication
Equipment
£
-
8,165
-
8,165
-
-
-
-
8,165
-
Restricted
Funds
£
8,165
1,610,873
(7,118)
1,611,920		 Residential
Property Fixtures
and Fittings
£
-
10,000
-
10,000
-
-
-
-
10,000
-
2020
£
28,764
3,571
32,335
2020
£
26,982
26,982
Total
2020
£
642,904
2,188,713
(26,982)
2,804,635		 Total
£
786,331
59,485
(2,824)
842,992
194,951
6,911
(1,774)
200,088
642,904
591,380
2019
£
12,760
8,373
21,133
2019
£
25,134
25,134
Total
2019
£
591,380
1,874,467
(25,134)
2,440,713

Designated and Restricted Funds are further analysed into their main components in the following notes.

27

Christ Church Fulwood

Financial statements for the year ended 31 December 2020

Notes to the financial statements

12a Designated Funds

Growth fund
Female Students' Worker fund
ReNew South Yorkshire Match fund
Training fund
Land & Buildings fund		 Funds brought
forward
£
70,980
46,000
40,000
-
-
156,980		 Income
£
2,815
-
-
-
-
2,815		 Expenditure
£
-
-
(1,700)
-
-
(1,700)		 Transfers
£
(15,900)
-
-
-
603,577
587,677		 Funds carried
forward
£
57,895
46,000
38,300
-
603,577
745,772

The PCC had five Designated Funds at the end of the year, all apart from the Land & Buildings fund being current assets. Designated funds are set aside at the PCC's discretion. The Land & Buildings fund has previously been shown as a Restricted Fund, but is now, more appropriately, classified as Unrestricted Designated.

----- Start of picture text -----
Growth fund Money set aside for the growth of the church through investment in ministry locally in Fulwood, church
planting and partnership projects. All unrestricted one-off gifts over £20,000 and legacies received by the
PCC are directed into the Growth Fund.
Female Students' Worker fund Money set aside for the support of a Female Students' Worker, to be utilised alongside the Friends of
Fulwood Students restricted fund raised for this purpose.
ReNew South Yorkshire Match fund Money set aside to fund up to the final one third of gospel ministry project costs undertaken by our ReNew
South Yorkshire partner churches.
Training fund Money set aside for the support of individuals receiving full time theological education. This fund had a
value of £nil during the year.
Land & Buildings fund Used to hold the Church Centre and a house (1 Silver Birch Avenue) currently occupied by a member of
church staff.
----- End of picture text -----

Designated fund movements - previous year comparison

Growth fund
Female Students' Worker fund
ReNew South Yorkshire Match fund
Training fund		 Funds brought
forward
£
96,565
-
-
-
96,565		 Income
£
1,000
-
-
-
1,000		 Expenditure
£
-
-
-
-
-		 Transfers
£
(26,585)
46,000
40,000
-
59,415		 Funds carried
forward
£
70,980
46,000
40,000
-
156,980

Christ Church Fulwood

28

Financial statements for the year ended 31 December 2020

Notes to the financial statements

12b Restricted Funds

----- Start of picture text -----
Funds brought Funds carried
forward Income Expenditure Transfers forward
£ £ £ £ £
- - -
Land & Buildings 575,000 (575,000)
Building for the Future 1,245,810 393,855 (107,118) 500 1,533,047
Tracked funds 1,508 17,167 (18,706) - (31)
Other funds 43,078 110,286 (45,212) (29,248) 78,904
1,865,396 521,308 (171,036) (603,748) 1,611,920
Building Tracked
Land & for the funds and Total Total
Buildings future other funds 2020 2019
£ £ £ £ £
Fixed assets - 8,165 - 8,165 575,000
Current assets - 1,525,378 85,495 1,610,873 1,292,771
Current liabilities - (496) (6,622) (7,118) (2,375)
-
1,533,047 78,873 1,611,920 1,865,396
The two main Restricted Funds are:
Land & Buildings Used to hold the Church Centre and a house (1 Silver Birch Avenue) currently occupied by a member of
church staff. The balance was transferred to a Designated Fund during the year.
Building for the Future Monies raised towards the Building for the Future reordering project which launched in January 2016.
From the launch, all expenditure related to the project is taken from this fund.
----- End of picture text -----

Tracked funds

The following six Restricted Funds are used to track specific monies coming in and going out of the church accounts and therefore are intended to return to nil after each year end:

return to nil after each year end:
Mission Fund Monies given by church members to be used to support the church’s current specified mission partners in
the UK and overseas.
Training (Designated Gift) Fund Monies given to be used to support specific individuals in ministry training.
Fulwood Romania Fund Monies given by church members to support churches in Romania.
Fees Fund Fees received by the PCC for weddings and funerals which are then distributed to the Diocese and those
who provided services at these occasions.
Christ Church Endcliffe Fund Used for all the income and expenditure of the Christ Church Endcliffe church plant at St Augustine’s
Church, Brocco Bank until December 2017 when the church plant became a separate legal entity. There
was an ongoing donation received into the Fulwood bank account which was passed over monthly to
Christ Church Endcliffe during the year.
Langsett Trust Fund Monies given to support the Langsett Trust, a charity associated with Oughtibridge Parish Church which
was a church graft during the year.
Other funds
The remaining Restricted Funds are:
Trainee Support Fund Monies raised by Ministry Trainees towards the funding of their time on the Ministry Training Scheme, as
part of their training for Christian ministry. These funds are released to the General Fund over the period
of the training year.
Bible Training Yorkshire Fund Attendance fees received for the Bible Training Yorkshire course (previously known as Fulwood Bible
Training) and used to cover its costs.
Friends of Fulwood Students Fund Monies raised to support work with students at Christ Church Fulwood.
Student Work Fund Monies given towards specific areas of student work. These funds are released to the General Fund to
subsidise costs of student events.
Vicarage Improvement Fund Monies given to support the vicar, and held specifically to provide for improvements to the vicarage.
Fulwood Hardship Fund Monies given to provide means-tested assistant to members of the church family experiencing significant
financial need, set up in response to the Covid-19 pandemic.
Other Other funds given with restricted purposes.

Christ Church Fulwood

29

Financial statements for the year ended 31 December 2020

Notes to the financial statements

12b
Restricted Funds - continued
Restricted fund movements - previous year comparison
Land & Buildings
Building for the Future
Tracked funds
Other funds
Net assets by fund - previous year comparison
Fixed assets
Current assets
Current liabilities		 Funds brought
forward
£
575,000
1,226,575
350
28,571
1,830,496
Land &
Buildings
£
575,000
-
-
575,000		 Income
£
-
60,390
17,203
73,788
151,381
Building
for the
future
£
-
1,247,810
(2,000)
1,245,810		 Expenditure
£
-
(41,155)
(15,885)
(37,151)
(94,191)
Tracked
funds and
Other funds
£
-
44,961
(375)
44,586		 Transfers
£
-
-
(160)
(22,130)
(22,290)
Total
2019
£
575,000
1,292,771
(2,375)
1,865,396		 Funds carried
forward
£
575,000
1,245,810
1,508
43,078
1,865,396

12c Fund transfers

During the year the following major transfers between funds were made as part of the PCC’s funding of its operations:

From
To
£
Growth fund
General fund
14,538
Growth fund
General fund
1,362
Net transfers from the General fund to Designated funds
Trainee Support fund
General fund
36,627
General fund
(9,007)
BCUK fund
General fund
1,128
General fund
Land & Buildings fund
(28,577)
Net transfers to the General fund from the Restricted funds
Net transfers from the General fund
Bible Training Yorkshire
fund		 £
15,900
171
16,071

£ Detail

To help support a second pastoral worker's salary

Support for the work of the Oughtibridge Parish Church graft

Support for the trainees on the Ministry Trainee Scheme

To contribute the fees of the Fulwood trainees and to cover the costs of Bible Training Yorkshire To cover the ministry and training costs of biblical counselling

Spend from the general fund on items capitalised in the Land & Buildings fund

Christ Church Fulwood

30

Financial statements for the year ended 31 December 2020

Notes to the financial statements

13 Reconciliation of net expenditure to net cash flow from operating activities

Net income for the year (as per the Statement of financial activities)
Adjustments for:
Depreciation
Bank interest received
Loss from the sale of fixed assets
(Increase)/decrease in debtors
Increase in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash at bank and in hand
Short term deposits
Total cash and cash equivalents		 Total
2020
£
363,922
6,911
(19,907)
362
(11,202)
1,848
341,934
Total
2020
£
1,080,735
1,075,643
2,156,378		 Total
2019
£
134,538
5,856
(22,565)
-
3,463
6,976
128,268
Total
2019
£
321,908
1,531,426
1,853,334

15 Leasing commitments

7 Whitfield Road is rented from the Brookhouse Hill Trust for an indefinite future period, with a 3 month notice period. £16,200 is expected to be paid during 2021.

50 Brooklands Crescent is rented from the Brookhouse Hill Trust for an indefinite future period with a 3 month notice period. £15,600 is expected to be paid during 2021.

38 Stone Delf is rented from a private landlord for an indefinite future period with a 1 month notice period. There is therefore a commitment to minimum rental payments of £3,000 (two months' rent) at 31 December 2020. The house continues to be occupied by a former member of staff, Rev. Chris Conn, and his family. Rev. Conn now carries full responsibility for all rent and any associated costs relating to the property.

16 Capital Commitments

There were no capital commitments at 31 December 2020 or 31 December 2019.

17 Quinquennial inspection of property

The last inspection was started in December 2015 and the outcome of this was received in 2019. Work has begun on the major recommendations and will be completed over time. A further inspection is now due.

18 Pension commitments

Contributions to personal pension plans are charged to the Statement of financial activities as they become payable. Contributions paid by the Council during the year were £33,243 (2019: £30,576). There was no pension liability at the year end.

Christ Church Fulwood

31

Financial statements for the year ended 31 December 2020

Notes to the financial statements

19 Grants paid

Grants paid primarily constitute payments for mission support, made by the Mission Committee. These are mainly paid to individuals or their supporting organisations. Detailed below are the organisations to which grants were paid or the organisations with whom the individuals work:

World Mission Partners and Associates
People International
Acorn Camps
OM
Juniper Tree
OMF
UK Mission Partners and Associates
The Oakes
UCCF
OMF
International Student ministry
2:19
Mission Partners in Training
George Whitefield College, Cape Town
Pioneers International
Regent College, Vancouver
Short Term Service
The Oakes
Friends International
Yorkshire Camps
Edinburgh City Mission
Mission partner support and encouragement
Mission partner visiting
Other
Total per note 5 - Mission Committee allocations
ReNew South Yorkshire Match Fund
St Andrew's Parish Church, Kendray
Other support
Anglican Mission in England
Mission partner gift		 £
23,584
11,812
13,268
2,540
1,000
37,420
9,000
2,250
2,500
4,800
4,650
2,703
2,540
3,000
2,500
500
500
95
138
68		 £
52,204
55,970
9,893
6,500
301
124,868
1,700
1,000

20 Grants received

Two grants were received in the year. A grant of £500 was received from the Diocese of Sheffield to fund the costs of live-streaming church services. A grant of £1,000 was received from Biblical Counselling UK to fund the costs associated with developing the biblical counselling ministry.