OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-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 31 December 2022

Registered Charity Number 1134057

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Contents

Legal and administrative information 1 – 2
Report of the Council 3 – 12
Report of the independent auditor 13 - 15
Principal accounting policies 16 – 17
Statement of financial activities 18
Balance sheet 19
Statement of cash flows 20
Notes to the financial statements 21 – 30

1

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Legal and administrative information

Ecclesiastical parish: Fulwood Christ Church, Sheffield

Address:

Council members:

Canterbury Avenue
Fulwood
Sheffield
S10 3RT
Incumbent Rev. Jonny Dyer* Cl (from 28 Sep 22)
Associate Vicar Rev. Pete Scamman* Cl (on PCC for full year;
Chair until 28 Sept 22)
Assistant Curate Rev. Matt Lawes Cl
Director of Operations Rev. Stephen Rae Cl
Minister for Training Rev. Rob Mullock Cl (from 26 Jun 22)
Churchwardens Emily Davies W
Bill Thomas W
Deputy Churchwardens Alison Linsky E
(Co-opted, unless elected) Paul Dodd E (elected to PCC on 4 May
2022)
Deanery Synod Bob Edmonds E
representatives John Grant E
Josef Korchinsky E
General Synod representative Jane Patterson E
Members with elected role Paul German E Mission Committee Chair
responsibilities
Emma Glaves E Secretary
Sally Hewson E Parish Safeguarding Officer
Ronan Wade E Treasurer (elected Treasurer 16th
May 2022)
Chris Nex E Lay Vice-Chair (elected 20 Jun
22)

*Rev. Scamman was Chair as senior minister until 28 September 2022 during incumbent vacancy.

2

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Legal and administrative information

Council members

(continued):

Elected PCC members

Elected PCC members Johnny Lockwood E (to 4 May 2022) Penny Simons E (to 4 May 2022) Alistair Wheatley E (to 4 May 2022) Heather Wilson E (to 4 May 2022( Richard Holland E Andrea Jordan E Peter Collier E Adrian Harris E Gill Manifold E (to 4 May 2022) Nick Morley E Jonathan Norgate E (to 4 May 2022) Andy Priestley E Vivienne Richardson E (to 4 May 2022) Paul Houghton E Tricia Ware E Andy Donaldson E (from 4 May 2022) Carolyn Edmonds E (from 4 May 2022) Emma Graham E (from 4 May 2022) Judith Jones E (from 4 May 2022) Jennifer Meiring E (from 4 May 2022) Roger Richardson E (from 4 May 2022) David Taylor E (from 4 May 2022) In attendance Heather Charlton A Parish Safeguarding Officer

PCC membership summary at the date of this report:

No.
Cl – Clergy (Voting) 4
W – Churchwarden (Voting) 2
E – Elected lay member (Voting) 25
Co – Co-opted onto PCC (Voting) -
A – PCC attendee (Non-Voting) 1

Status: A charity registered with the Charity Commission

Bankers: Virgin Money 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 2022

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 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.

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 seven additional churches in South Yorkshire with informal relationships.

4

Christ Church Fulwood Financial statements for the year ended 31 December 2022

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 ‘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 has met monthly at Sunday lunchtime.

5

Christ Church Fulwood Financial statements for the year ended 31 December 2022

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, and since the start of the Coronavirus pandemic, all services have been broadcast online. 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 links to a number of ministries locally and beyond. These include:

Individual church family members are involved in these community ministries and many others.

6

Christ Church Fulwood Financial statements for the year ended 31 December 2022

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 (BFTF)” project was driven by that aim.

The church’s buildings have been at the heart of the community of Fulwood for more than 175 years, and the work of the BFTF project has enabled the PCC to renovate the church buildings and provide buildings which are flexible, accessible and welcoming for gospel ministry, witness and service to the community for generations to come.

The construction phase of the project completed in November 2022. Part of the scope of the project was to significantly improve access for those with special needs, including installation of a lift in the church centre and accessible toilet in the church building.

Review of the year

A year of challenge and hope

2022 was another challenging year for Christ Church, Fulwood and yet it was also a year of great blessing and hope.

As the main impacts of the pandemic receded, our ministries were able to return to pre-pandemic normality. In late March, our fully refurbished church building was re-opened for services and other 7-day a week activities. A wonderful Easter weekend of events ranging from Easter Service celebrations to hosting a film night on Easter Monday, soon demonstrated the flexibility of the enhanced facilities. Lately, with a full staff team in place, we have been able to revert to different morning and evening services based on separate bible teaching.

The refurbished church building is now heavily used throughout the week and hosts, for example, the regular ladies’ bible study groups, our major weekly community event for the elderly (Friday Cub) and the church family’s monthly prayer meeting. Undoubtedly, the number and variety of events that we can now host will continue to expand. Soon after the re-commissioning, a Community Open Day was held where a good number of people from Fulwood came onsite to explore the new facilities.

All our ministries, for example, children, youth and students, small bible small groups etc are now once again fully operational with encouraging growth in numbers following the downturn during the pandemic.

The PCC sub-group set up to implement the recommendations of the Bishops’ Visitation and thirtyone:eight reports has continued to meet on a regular basis throughout the year and have systematically and thoroughly started to work through implementation of the recommendations. The work of this group will continue into 2023.

For the first time for several years, at the end of 2022, the staff team at Christ Church was at full strength. Our new vicar Jonny Dyer is a very great blessing to the church family. The PCC is also delighted that Justin Roberts arrived with his family at the end of the year to take up the role of Minister for Students. The PCC is especially grateful to Rob Mullock who temporarily led the student work alongside his full-time role of Minister of Training

During the year the organisational structure of the church office has evolved and a number of new appointments have been made.

Attendance and membership

Those who attend church meetings 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 Annual Parochial Church Meeting (‘APCM’). The figures for the Average Sunday Attendance, counted during October each year, previously gave a more reliable indication of the size of the church family. These show gradual growth in church numbers between 2015 and 2019. However, no count was performed in 2020 due to the pandemic restrictions and, in October 2021, although physical meetings were taking place in person, capacity was limited due to the combined effects of the pandemic and ongoing building work.

7

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Report of the Council - continued

----- Start of picture text -----
1200
1000
Sunday Attendance (under 16)
800
600 Sunday Attendance (16+)
400
Electoral Roll at APCM
200
0
2015 2016 2017 2018 2019 2020 2021 2022
----- 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 from 2019 to 2021. This is not unexpected with the departure of the Oughtibridge church plant and the ongoing pandemic providing little encouragement for new members to sign the roll.

Update - 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 four Ministry Trainees in the 2022-23 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 2022 under the leadership of Minister for Training, Rob Mullock.

With a return to meeting in the church building, we were delighted to welcome many in our parish to our church. This included our annual Carols by Candlelight, and our Fireworks night display. These events and others have enabled hundreds of adults and children to hear the gospel of Jesus Christ. Those attended were encouraged to investigate further and in total, 45 people (2021: 41 people) attended Christianity Explored & Hope Explored courses during the year.

“Small groups” continue to be attended by most of the regular members of the church – in total over 525 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.

Update - Development of the church buildings

After many years of careful planning, in March 2021 the final local authority and Church of England permissions were obtained, and a substantial reordering of the main church building and some more minor works to the church centre began in April 2021. The aim is to adapt the buildings to make them more suitable and safe to support the vision.

During the year work on the church building was completed in March 2022, and services of Thanksgiving and Commission were held in June 2022 to give thanks to God for the blessing He has given through the building. Work on the church centre unfortunately encountered delays, however this was still able to completed by November 2022. The project is now in its final stages of snagging.

The PCC was grateful to receive grants totalling £12,500 (2021: £135,000) toward the project, as well as support from the Listed Places of Worship Grant Scheme, allowing the recovery of VAT on specific work on the church: a total of £87,249 (2021: £168,000) was received in 2022.

At the beginning of the year the Building for the Future restricted fund held £881k, and further income of £204k was received, including the grants mentioned above. Further expenditure of £485k was incurred on the church, and £470k of capitalised work on the church centre was transferred to the Land & building designated fund and £249k of AV equipment

8

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Report of the Council - continued

was transferred to the general fund. This left a final balance of £119k which was funded by the general fund from donations made at the end of 2021. We are grateful to the church family for their generosity in providing the finance for this project.

The PCC wishes to thank the Building for the Future committee members for their immensely hard work and effort in overseeing this fantastic project over a period of many years.

Update - Safeguarding

The PCC has two volunteers who share the responsibility of Parish Safeguarding Officer, and a part-time staff member 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 2022, 214(2021: 207) individuals within the church family had received safeguarding training, and 249 (2021: 271) individuals had current DBS checks for their work with the church.

Update - Staff

In September 2022 Jonny Dyer took up the role as Vicar of Christ Church Fulwood, moving with his family from London. The PCC is delighted to welcome Jonny and are looking forward to him leading the church in the forthcoming years. In December 2022 Justin Roberts was appointed as Minister for Students, arriving from South Africa.

In our ministry support team, Erin Clarke moved on from her role as Finance Manager in May 2022. Tilly Rawson was appointed as Ministry Support Manager in July 2022. Natacha Heath was appointed to the full time role of Ministry Support Assistant in September 2022, and Sarah Collins and Thomas Leighton joined in October 2022 on short term contracts, replacing Toby Vogelberg.

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, retired in October 2022 and will be succeeded by the Rev Rob Munro in offering 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, as discussed at the recent General Synod. The PCC will need to give careful thought to the matter and 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, a global family of authentic Anglicans standing together to retain and restore the Bible to the heart of the Anglican Communion.

9

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Report of the Council - continued

Future Plans

Over the year ahead the PCC looks forward to working with its new vicar Jonny Dyer and helping to support and serve with him in leading Christ Church Fulwood. The church began 2023 with a month of prayer, and have been considering the Philippians 1v21 “For me to live is Christ and to die is gain.”

The church continues to recognise our need to grow in our dependence on our Lord and humbly seek to deal with some of the difficult issues that have had, and continue to have, a deep impact on the church family. The PCC remain committed to continuing the implementation of recommendations from the Bishops’ Visitation and the thirtyone:eight report.

Going concern

Finally, the PCC would note that it continues to monitor its financial situation closely, particularly as it completes the major Building for the Future project. There has continued to be a reduction in regular giving over the past 18 months, and the Covid pandemic has undoubtedly caused significant challenges in the church’s ability clearly to communicate regular giving needs, especially to newcomers. However, the PCC has been greatly encouraged by the response to its Giving Sunday in January 2023, which has seen regular income pledged to increase by 20%.

The PCC has carefully considered a detailed budget for 2023 and a forecast extending into 2024, therefore covering a period of at least 12 months from the date of these financial statements. Although the budget and forecast anticipate a deficits for 2023 the church’s free reserves remain sufficient to support this, and the church will continue to review its income and expenditure during 2023 and is ready to take necessary action to ensure a balanced budget in future years. On this basis the PCC is satisfied that it is appropriate to prepare the accounts on a going concern basis.

Financial Review

----- Start of picture text -----
Income Unrestricted Funds Restricted Funds
General Growth FSW RSY Land & Fire Building for Other Total
Fund Fund Fund Fund Buildings Doors Total the Future Funds Total Funds
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Gift income - regular 744 - - - - - 744 19 31 50 794
- collections 1 - - - - - 1 - - - 1
- one-off 29 75 - - - - 104 82 12 94 198
- total 774 75 - - - - 849 101 43 144 993
Grant income - - - - - - - 100 - 100 100
Other income 46 - - - - - 46 3 14 17 63
Total income 820 75 - - - - 895 204 57 261 1,156
----- End of picture text -----

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

Expenditure Un restricted F unds Restr icted Fund Total
Total
Funds
£'000
£'000
s
General
Fund
£'000		 Growth
Fund
£'000		 FSW*
Fund
£'000**		 RSY*
Fund
£'000**		 Land &
Buildings
£'000		 Fire
Doors
£'000		 Total
£'000		 Building for
the Future
£'000		 Other
Funds
£'000
Parish
- staff costs
ministry
- other costs
- governance
- total
Activity outside the parish
Total expenditure		 461
369
24		 -
-
-		 -
-
-		 -
-
-		 -
-
-		 -
44
-		 461
413
24		 -
485
-		 -
8
-		 -
461
493
906
-
24
854
150		 -
-		 -
-		 -
-		 -
-		 44
-		 898
150		 485
-		 8
17		 493
1,391
17
167
1,004 - - - - 44 1,048 485 25 510
1,558

10

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Report of the Council - continued

Financial result and year end position

----- Start of picture text -----
Unrestricted Funds Restricted Funds
General Growth FSW RSY Land & Fire Building for Other Total
Fund Fund Fund Fund Buildings Doors Total the Future Funds Total Funds
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Net assets:
1 January 2022 422 - 46 38 604 60 1,170 881 53 934 2,104
Surplus/(Deficit) (183) 75 - - - (44) (152) (281) 31 (250) (402)
Transfers 196 - (16) - 470 - 650 (600) (50) (650) -
Surplus/(Deficit) after tfrs 13 75 (16) - 470 (44) 498 (881) (19) (900) (402)
31 December 2022 435 75 30 38 1,074 16 1,668 - 34 34 1,702
Net current assets 191 75 30 38 - 16 350 - 34 34 384
----- End of picture text -----

*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 2023 budget approved by the PCC, this equates to a round sum threshold of £125k (2022 reserves threshold: £116k). At the year end, General Fund free reserves were £191k (2021: £396k) and therefore the policy threshold was exceeded by £66k (2021: £280k). This excess is considered appropriate as we face a deficit budget in 2023.

11

Christ Church Fulwood Financial statements for the year ended 31 December 2022

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 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 was co-opted to the PCC at the beginning of the year before being elected to the PCC at the APCM.

The PCC is supported in its work by six sub-committees as well as ad-hoc working groups established from time to time. The sub committees are as follows:

Standing Committee

Finance Management Group

Staffing Subcommittee

Mission Committee

Safeguarding Committee

Safeguarding Trustee Group

In addition the PCC currently has the following ad-hoc working groups:

Visitation and thirtyone:eight Implementation Group

Building for the Future Committee

Hardship Fund Committee

ReNew South Yorkshire Fund Committee

12

Christ Church Fulwood Financial statements for the year ended 31 December 2022

Report of the Council - continued

Trustees’ responsibilities statement

The Council members are responsible for preparing the Report of the Council and the Annual Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Council members to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Council and of the incoming resources and application of resources of the Council for that period. In preparing these financial statements, the members are required to:

The members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Council and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Church Accounting Regulations 2006. They are also responsible for safeguarding the assets of the Council and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the PCC

J Dyer

Vicar

9 April 2023

13

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 2022 which comprise the Statement of Financial Activities, Balance Sheet, Statement of cash flows, notes to the financial statements and 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).

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.

14

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

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 12, 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 regulations made under section 154 of that Act.

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.

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.

15

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

Audit procedures performed by the engagement team included:

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor’sresponsibilities-for. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees 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 charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Hawsons Chartered Accountants

Statutory Auditor Pegasus House 463a Glossop Road Sheffield S10 2QD

April 2023

Hawsons Chartered Accountants is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

16

Christ Church Fulwood Financial statements for the year ended 31 December 2022

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.

Income from grants is recognised when there is evidence of entitlement, the receipt of the grant is probable and its amount 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.

17

Christ Church Fulwood Financial statements for the year ended 31 December 2022

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 expensed through the Statement of Financial Activity.

Other land and buildings

Additions are capitalised 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 between four and ten 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

Retirement benefits to employees of the PCC are provided under the following arrangements during the year: ▪ contributions to personal pension plans of the employee's choice; or

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 PCC have set an ambitious budget for 2023 as they look to restart ministry in full after our recent difficulties, the enforced reductions of covid, and working through building renovations. A full compliment of staff, together with increasing energy costs and high inflation mean that our budget remains at a deficit for the next 12 months, however we give thanks to God that a recent gift day has seen committed regular income increase by 20% and one off gifts of over £80k pledged. The PCC has sufficient reserves to meet the current shortfall and therefore has a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Accordingly, it continues to adopt the going concern basis in preparing these financial statements.

Christ Church Fulwood

18

Financial statements for the year ended 31 December 2022

Statement of financial activities

Statement of financial activities
Note
Income from
Donations and legacies
1
Grants
20
Charitable activities
2
Investments
3
Total Income
Expenditure on
Charitable activities
Ministry expenses
4
Mission, diocesan and other support
5
Total Expenditure
Net (expenditure)/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
£
774,717
-
45,608
-		 Designated
funds
£
75,399
-
-
-		 Restricted
funds
£
144,170
99,749
14,259
2,402		 Total
2022
£
994,286
99,749
59,867
2,402		 Total
2021
£
1,108,087
308,547
54,974
6,298
820,325 75,399 260,580 1,156,304 1,477,906
853,761
150,377		 43,606
-		 493,164
16,824		 1,390,531
167,201		 1,997,813
180,920
1,004,138 43,606 509,988 1,557,732 2,178,733
(183,813)
196,555		 31,793
453,777		 (249,408)
(650,332)		 (401,428)
-		 (700,827)
-
12,742
422,425		 485,570
747,877		 (899,740)
933,506		 (401,428)
2,103,808		 (700,827)
2,804,635
435,167 1,233,447 33,766 1,702,380 2,103,808

Christ Church Fulwood

19

Financial statements for the year ended 31 December 2022

Balance sheet

Balance sheet
Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Short term deposits
14
Cash at bank and in hand
14
Creditors: amounts falling due within one year
11
Net current assets
Total net assets
Funds
General
Designated
Total Unrestricted
12
Restricted
12
Total charity funds
12		 2022
£
1,318,215		 2021
£
721,595
131,784
236,872
170,756		 127,022
695,179
828,619
539,412
(155,247)		 1,650,820
(268,607)
384,165 1,382,213
1,702,380 2,103,808
435,167
1,233,447		 422,425
747,877
1,668,614
33,766		 1,170,302
933,506
1,702,380 2,103,808

The financial statements were approved by the Parochial Church Council on 8 April 2023 and signed on its behalf by:

J Dyer

Vicar

RJ Wade

PCC Treasurer

Christ Church Fulwood

20

Financial statements for the year ended 31 December 2022

Statement of cash flows

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		 2022
£
(476,330)		 2021
£
(549,809)
2,402
-
(642,242)		 6,298
340
(89,409)
(639,840)
(1,116,170)		 (82,771)
(632,580)
1,523,798
2,156,378
407,628
1,523,798

Christ Church Fulwood

21

Financial statements for the year ended 31 December 2022

Notes to the financial statements

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
£
505,480
126,370
113,016		 Designated
Funds
£
-
-
-		 Restricted
Funds
£
14,164
3,541
32,074		 Total
2022
£
519,644
129,911
145,090		 Total
2021
£
502,414
125,604
145,071
744,866
-
-
627		 -
-
-
-		 49,779
-
-
-		 794,645
-
-
627		 773,089
-
-
-
627
-
-
29,224		 -
-
-
75,399		 -
-
-
94,391		 627
-
-
199,014		 -
187,335
46,834
100,829
29,224 75,399 94,391 199,014 334,998
774,717 75,399 144,170 994,286 1,108,087

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.

£774,717 (2021: £846,600) was received into the General Fund and £nil (2021: £000) was received into the Growth Fund. £144,170 (2021: £261,487) was received into Restricted Funds, of which £201,235 (2021: £517,267) was received into the Building for the Future Fund.

2 Income from charitable activities

Parish ministry (including fees)
Children, Youth and Students
Church Centre lettings
Other		 General
Fund
£
8,438
36,392
360
418		 Restricted
Funds
£
14,234
-
-
25		 Total
2022
£
22,672
36,392
360
443		 Total
2021
£
14,456
20,657
120
19,741
45,608 14,259 59,867 54,974

£45,608 (2021: £23,821) was General Fund income and £14,259 (2021: £31,153) was Restricted Funds income.

Christ Church Fulwood

22

Financial statements for the year ended 31 December 2022

Notes to the financial statements

3 Income from investments

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
£
311,983
181,438
172,110
30,329
87,981
-
45,623
24,297		 General
Fund
£
-		 Restricted
Funds
£
2,402		 Total
2022
£
2,402		 Total
2021
£
6,298
Designated
Funds
£
-
-
-
-
43,606
-
-
-		 Restricted
Funds
£
8,301
-
-
-
-
484,863
-
-		 Total
2022
£
320,284
181,438
172,110
30,329
131,587
484,863
45,623
24,297		 Total
2021
£
293,967
169,099
162,962
12,811
87,506
1,239,181
10,378
21,909
853,761 43,606 493,164 1,390,531 1,997,813

£853,761 (2021: £742,960) was General Fund expenditure and £493,164 (2021: £1,254,853) was Restricted Funds expenditure.

5 Mission, diocesan and other support

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
£
139,087
240		 Designated
Funds
£
-
-		 Restricted
Funds
£
-
16,824		 Total
2022
£
139,087
17,064		 Total
2021
£
139,916
29,980
139,327
10,000
-
-
-
1,050
-
-		 -
-
-
-
-
-
-
-		 16,824
-
-
-
-
-
-
-		 156,151
10,000
-
-
-
1,050
-
-		 169,896
10,000
-
-
24
1,000
-
-
150,377 - 16,824 167,201 180,920

£150,377 (2021: £151,180) was General Fund expenditure and £nil (2021: £000) was Designated Funds expenditure. £16,824 (2021: £29,740) was expenditure from Restricted Funds.

Christ Church Fulwood

23

Financial statements for the year ended 31 December 2022

Notes to the financial statements

5 Mission, diocesan and other support - continued

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
£
78,002
66,122		 Diocesan
support
£
-
10,000		 Total
2022
£
78,002
76,122		 Ministry
Expenses
£
93,552
66,122		 Diocesan
support
£
-
10,000		 Total
2021
£
93,552
76,122
144,124 10,000 154,124 159,674 10,000 169,674

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).

6 Support costs

Audit
Legal & Professional fees		 General
Funds
£
7,200
6,097		 Restricted
Funds
£
-
-		 Total
2022
£
7,200
6,097		 Total
2021
£
4,800
17,109
13,297 - 13,297 21,909

7 Staff costs, PCC remuneration and expenses, and the cost of key management personnel

Wages and salaries
Social security costs
Pension costs
Average number of full-time equivalent employees		 General
Funds
£
256,067
22,896
38,389		 Restricted
Funds
£
-
-
-		 Total
2022
£
256,067
22,896
38,389		 Total
2021
£
231,336
18,637
34,802
317,352 - 317,352 284,775
9.7 8.4

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 (2021: £nil) neither were they reimbursed expenses in their capacity as PCC members during the year (2021: £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 £144,124 (2021: £159,674). Other clergy expenses, including housing costs, were £62,654 (2021: £65,111).

Christ Church Fulwood

24

Financial statements for the year ended 31 December 2022

Notes to the financial statements

7 Staff costs, PCC remuneration and expenses, and the cost of key management personnel - continued

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

Remuneration
benefits Expenses
Employee Position Connection £ £
P Harris Children’s and Families' Worker Wife of PCC member 35,847 47
F Lockwood Premises Manager Wife of PCC member 24,847 2,040
A Wade Lead Recruiter (DBS Administrator) Wife of PCC member 6,730 -

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

8 Related party transactions

PCC members and key management personnel (and families) donated £63,835 before Gift Aid without conditions, which are included within the unrestricted total of Note 1. (Where a PCC member has only served for part of the year, donations are included for the whole of the financial year.)

Paul Dodd, a member of the PCC, received reimbursement of £214 for exepnditure incurred on behalf of the church in relation to the Building for the future project.

The Brookhouse Hill Trust received £36,506 for the rental of 50 Brooklands Crescent, 7 Whitfield Road and 1 Roscoe View. Paul Houghton was a trustee of the Brookhouse Hill Trust 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. The key benefit of this rental arrangement to the PCC is the long-term availability of rental property suitable for the church's ministers' accommodation.

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. Market value is £3,000-£4,000

During the year, the PCC held cash in a deposit account with Kingdom Bank Ltd. The account held funds of £80,818 at 31 December 2022 (2021:£80,287). Paul Houghton, a PCC member, is a director of the bank. Paul withdraws from any PCC decisions relating to the placing of funds with Kingdom Bank.

Christ Church Fulwood

25

Financial statements for the year ended 31 December 2022

Notes to the financial statements

9
Tangible fixed assets
Cost
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
Disposals
At 31 December 2022
10
Debtors
Income tax recoverable
Prepayments and accrued income
11
Creditors
Accruals and deferred income
12
Analysis of Funds and net assets by
Fixed assets
Current assets
Current liabilities
Net book amount at 31
December 2021
Net book amount at 31
December 2022		 Land &
buildings
£
653,784
419,793
-		 Equipment
£
99,059
172,538
-		 Fixtures
and fittings
£
140,967
49,911
-		 Motor
vehicles
£
17,436
-
-		 Residential
Property Fixtures
and Fittings
£
10,000
-
-		 Total
£
921,246
642,242
-
1,073,577 271,597 190,878 17,436 10,000 1,563,488
-
-
-		 80,377
33,713
-		 105,741
8,730
-		 12,533
2,179
-		 1,000
1,000
-		 199,651
45,622
-
- 114,090 114,471 14,712 2,000 245,273
1,073,577 157,507 76,407 2,724 8,000 1,318,215
653,784 18,682 35,226 4,903 9,000 721,595
Fund Un restricted Funds Restricted
Funds
£
-
33,766
-		 2022
£
101,453
30,331		 2021
£
11,972
115,050
131,784 127,022
2022
£
155,247		 2021
£
268,607
155,247 268,607
Total
2022
£
1,318,215
539,412
(155,247)		 Total
2021
£
721,595
1,650,820
(268,607)
General
Fund
£
244,638
345,776
(155,247)		 Designated
Fund
£
1,073,577
159,870
-
435,167 1,233,447 33,766 1,702,380 2,103,808

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

Christ Church Fulwood

26

Financial statements for the year ended 31 December 2022

Notes to the financial statements

12a Designated Funds

Designated Funds Designated Funds
Funds brought
forward
Income
Expenditure
Transfers
£
£
£
£
Growth fund
-
75,399
-
-
Female Students' Worker fund
46,000
-
-
(16,223)
ReNew South Yorkshire Match fund
38,300
-
-
-
Land & Buildings fund
603,577
-
-
470,000
Fire Door fund
60,000
-
(43,606)
-
747,877
75,399
(43,606)
453,777
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
PCC's discretion.		 Funds brought
forward
£
-
46,000
38,300
603,577
60,000		 Income
£
75,399
-
-
-
-		 Expenditure
£
-
-
-
-
(43,606)		 Transfers
£
-
(16,223)
-
470,000
-		 Funds carried
forward
£
75,399
29,777
38,300
1,073,577
16,394
747,877 75,399 (43,606) 453,777 1,233,447
set aside at the
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.
Land & Buildings fund Used to hold the Church Centre (prior to Building for the Future works) and a house (1 Silver Birch Avenue)
currently occupied by a member of church staff. The balance was transferred from a Restricted Fund in the
Fire Door fund ~~i~~
Moneyset aside to fund the repair of fire doors in the church centre.

Designated fund movements - previous year comparison

Designated fund movements - previous year comparison
Growth fund
Female Students' Worker fund
ReNew South Yorkshire Match fund
Land & Buildings fund
Fire Door Fund		 Funds brought
forward
Income
£
£
57,895
-
46,000
-
38,300
-
603,577
-
-
-		 Expenditure
£
-
-
-
-
-		 Transfers
£
(57,895)
-
-
-
60,000		 Funds carried
forward
£
-
46,000
38,300
603,577
60,000
745,772
-		 - 2,105 747,877

Christ Church Fulwood

27

Financial statements for the year ended 31 December 2022

Notes to the financial statements

12b Restricted Funds

Building for the Future
Tracked funds
Other funds
Fixed assets
Current assets
Current liabilities
The main Restricted Fund is:		 Building for the Future
Tracked funds
Other funds
Fixed assets
Current assets
Current liabilities
The main Restricted Fund is:		 Funds brought
forward
£
881,304
-
52,202		 Income
£
203,662
8,829
48,089		 Expenditure
£
(484,863)
(5,648)
(19,477)		 Transfers
£
(600,103)
-
(50,229)		 Funds carried
forward
£
-
3,181
30,585
933,506 260,580 (509,988) (650,332) 33,766
Land &
Buildings
£
-
-
-		 Building
for the
future
£
-
-
-		 Tracked
funds and
other funds
£
-
33,766
-		 Total
2022
£
-
33,766
-		 Total
2021
£
92,125
1,058,810
(217,429)
- - 33,766 33,766 933,506
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.
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:
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 Moniesgiven to be used to support specific individuals in ministrytraining.
Fulwood Romania Fund Moniesgiven bychurch 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.
Other funds
The remainingRestricted 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
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.
~~i i~~
Friends of Fulwood Students(FOFS)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.
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 fundsgiven with restrictedpurposes.

Christ Church Fulwood Financial statements for the year ended 31 December 2022

28

Notes to the financial statements

12b Restricted Funds - continued
Restricted fund movements - previous year comparison
Building for the Future
Tracked funds
Other funds
Net assets by fund - previous year comparison
Fixed assets
Current assets
Current liabilities		 Funds brought
forward
£
1,533,047
(31)
78,904		 Income
£
531,218
8,209
63,226		 Expenditure
£
(1,240,854)
(8,179)
(35,560)		 Transfers
£
57,893
1
(54,368)		 Funds carried
forward
£
881,304
-
52,202
1,611,920 602,653 (1,284,593) 3,526 933,506
Land &
Buildings
£
-
-
-		 Building
for the
future
£
92,125
1,005,508
(216,329)		 Tracked
funds and
Other funds
£
-
53,302
(1,100)		 Total
2021
£
92,125
1,058,810
(217,429)
- 881,304 52,202 933,506

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
Transfers to the General fund from Designated funds
Female Student Worker
General fund
Transfers to the General fund from Restricted funds
Trainee Support fund
General fund
FOFS fund
General fund
Bible Training Yorkshire fund
Vicarage Fund
General fund
Building for the Future Fund General fund
Transfers from the General fund to Restricted funds
General fund
Building for the Future Fund
Transfers from Restricted funds to Designated funds
Building for the Future Fund Land & Buildings
General fund		 General
£
16,223
22,797
21,477
2,735
3,221
249,227
(119,125)		 Designated
£
(16,223)
470,000		 Restricted
£
Detail
(22,797)
(21,477)
(2,735)
(3,221)
(249,227)
119,125
(470,000)
(650,332)
To contribute the fees of the
Fulwood trainees and to cover the
costs of Bible Training Yorkshire
To contribute to the cost of
preparing the vicarage.
To fund the Female Students'
Worker's remuneration
Support for the trainees on the
Ministry Trainee Scheme
To fund the Female Students'
Worker's remuneration
Transfer of Fixed Assets, including
chairs and AV system.
To fund the shortfall in Building
for the Future.
Transfer of Capital improvements
to the Church centre.
196,555 453,777

Christ Church Fulwood

29

Financial statements for the year ended 31 December 2022

Notes to the financial statements

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

13
Reconciliation of net expenditure to net cash flow from operating activities
Net income/(expenditure) for the year (as per the Statement of Financial Activities)
Adjustments for:
Depreciation
Bank interest received
(Increase) in debtors
(Decrease)/Increase in creditors
Net cash provided by/(used in) operating activities
14
Analysis of cash and cash equivalents
Cash at bank and in hand
Short term deposits
Total cash and cash equivalents		 Total
2022
£
(401,428)
45,622
(2,402)
(4,762)
(113,360)		 Total
2021
£
(700,827)
10,378
(6,298)
(94,687)
241,625
(476,330) (549,809)
Total
2022
£
170,756
236,872		 Total
2021
£
828,619
695,179
407,628 1,523,798

15 Leasing commitments

7 Whitfield Road is rented from the Brookhouse Hill Trust for an indefinite future period, with a 3 month notice period. £18,600 is expected to be paid during 2023. 50 Brooklands Crescent is rented from the Brookhouse Hill Trst for an indefinite future period with a 3 month noice period. £17,100 is expected to be paid during 2023. 1 Roscoe View is rented from the Brookhouse Hill Trust for an indefinite future period, with a 3 month notice period. £17,400 is expected to be paid during 2023.

16 Capital Commitments

At 31 December 2022 the PCC had no capital commitments (2021 £601,907).

17 Quinquennial inspection of property

Following the recommendations of the most recent Quinquennial report, any outstanding issues raised in the report continue to be investigated. 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 £38,389 (2021: £34,802). There was no pension liability at the year end.

Christ Church Fulwood

30

Financial statements for the year ended 31 December 2022

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
UK Mission Partners and Associates
The Oakes
UCCF
OMF
Friends International
2:19 Teach to Reach
Galeed House
Mission Partners in Training
George Whitefield College, Cape Town
World Team
Short Term Service
Crosslinks
Yorkshire Camps
UCCF
Frontiers
UFM
Mission partner support and encouragement
Other
Total per note 5 - Mission Committee allocations
Hardship grants
Other support
Anglican Mission in England		 £
26,200
14,050
14,250
2,500		 £
57,000
58,250
19,000
3,000
1,837
37,500
8,250
1,000
4,500
6,500
500
1,500
17,500
500
1,000
500
500
500
1,837
139,087
1,892
1,000

20 Income from grants

The following income from grants was recognised in the year: ▪ Grants from the Listed Place of Worship Grant Scheme totalled £87,249 (2021: £172,547) in the year.

▪ One other grant making body made a grant to the Building for the Future restricted fund of £12,500 (2021: four bodies totalling £135,000).