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2020-12-31-accounts

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

St Mary Redcliffe

Trustees Annual Report and Financial Statements

The Parochial Church Council of the ecclesiastical parish of St Mary, Redcliffe with St John the Baptist, Bedminster and Temple, Bristol

Charity No: 1134120

31[st] December 2020

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Contents

Objectives and Activities 2
Achievements and performance 5
Financial Review 6
Plans for future periods 10
Structure, Governance and Management 12
Reference and Administration 12-14
Statement of Trustees’ Responsibilities 15
Independent Examiner’s Report 16
Statement of Financial Activity 17
Balance Sheet 18
Statement of Cash Flows 19
Notes to the Financial Statements 20 - 32

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Objectives and Activities

The objective of the PCC is provided for in legislation: namely, “to cooperate with the incumbent in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and ecumenical”.

The PCC encapsulates this work with a vision statement and four key themes:

Singing the song of faith and justice

In the last year, the PCC was challenged to continue to work to realise its vision and key themes at a time of national lockdown, with the church building closed for much of the year and our programme of fundraising and other activities cancelled or postponed. In addition, new needs arose in our congregation and staff team and in our parish and wider community. We reframed what we were trying to do and embraced three key themes:

Caring for the congregation

Connecting with the community

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Redcliffe Way as a community hub, to sign post advice and support and offer tangible support, such as through our IT tech library.

Creating an online presence

More generally:

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Throughout the pandemic, there has been significant work to ensure compliance with health and safety, safeguarding and risk management obligations and employment practices and procedures. The PCC has complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. We understand that our Public Benefit requirement is clearly met at least by reference to the headings ‘advancement of religion’, ‘relief of poverty’, and ‘advancement of the arts, culture, heritage or science’.

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Achievements and performance

As it became clear in March 2020 that the UK was entering lockdown and that decisions needed to be made swiftly, an email resolution by which the PCC delegated decision-making power during lockdown to the smaller and more nimble standing committee was made in late March 2020. At the same time, key members of the Church leadership (including the Vicar, churchwardens, Associate Vicar and the head of operational development) formed a Coronavirus Co-ordination Group (or CoCo) to discuss urgent operational and tactical business. Meetings were held remotely via zoom.

The full PCC reconvened in August 2020, once the pace of change in lockdown had settled, and the more usual pattern of meetings was resumed. The Annual Parochial Church Meeting and Annual Meeting of Parishioners, having been postponed due to lockdown, were convened by zoom on 5 October 2020.

Discussions at PCC and Standing Committee have dealt with:

While CoCo also discussed:

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DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Financial Review

Unrestricted income

Total unrestricted income from donations and legacies amounted to £158,681, after excluding the £78,706 grant from the Temple Ecclesiastical Charity and grants totalling £346,395 from the St Mary Redcliffe Church Lands Charity (SMRCLC)). The comparable figure for 2019 was £232,917. Following a series of online appeals during the year, planned giving increased by £10,000 and sundry donations were far above the level in a typical year (noting that in 2019 there was a one-off £50,000 donation that distorts the comparison). The generosity of our donors helped the PCC to make up the shortfall in collections and visitors’ donations following closure of the Church building.

Expenditure

Total unrestricted funds at 31 December 2020 were £135,634 (2019: £117,453).

Summary

2020 was an extraordinary year. Lockdown and the closure of the Church building meant that many of the PCC’s usual activities could not take place. Income from cash donations, specific fundraising appeals (e.g. Lent appeal and Treefest), collections, occasional services and shop sales was severely reduced as a result, compared with 2019. As activities moved online for much of year, some costs were saved, but there was additional expenditure incurred in investing in the equipment and software necessary to livestream services and in purchasing cleaning materials and PPE to ensure the Church building was safe to use when partial reopening was permitted. After careful consideration, the PCC resolved not to furlough any members of staff, who continued to work throughout the year as they could, and so staffing costs were not reduced.

Charitable collections on behalf of other organisations were particularly badly affected in 2020. The Lent Appeal had to be cancelled as a result of the first lockdown, and the pattern of worship over the year (and particularly during Christmas 2020) was radically different and did not offer the same opportunities to fundraise in support of external charities. The 2019 accounts provided for a number of accruals for charitable collections and donations not paid out by the end of the year. While the PCC has honoured its new giving policy (see below), the reversal of the 2019 accruals has led to some unexpected and misleading figures in the accounts.

Thus, there is an apparent contrast between the overarching £18,181 surplus and the cash deficit of (£77,066) for 2020. A deficit of around (£70,000) was projected for the year. The PCC put in place fundraising appeals and expenditure controls to control spending and ensure the PCC did not dig too deeply into reserves. This work was highly successful, and the PCC finished the year with a cash deficit broadly at the level expected. In a year of many changes and challenges, this is a good achievement, particularly as cash reserves remain healthy going into 2021.

The disparity between the cash and the accounting position at the end of the year can be attributed to three main reasons:

  1. The accounting position takes into account certain grant funding income that was agreed to in 2020 (and are therefore accrued in the accounts) but which were not paid until early 2021.

  2. As part of the work to ensure its financial position is as robust as possible, the PCC reviewed its debtors and creditors and wrote off historic amounts that were, in the view of the PCC (following discussion with the relevant creditor, where appropriate), no longer payable or recoverable. While not affecting the cash position, these adjustments overall have resulted in a small unrestricted funds surplus of £6,647 being recognised in 2020 for accounting purposes.

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DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

  1. Lastly, the PCC reviewed its restricted funds and identified a number of funds that should properly be characterised as designated rather than restricted reserves (‘designation’ means that there is some expectation, but no requirement, that the funds should be used for a particular purpose). The accounting movements generated by this activity have led to the overarching unrestricted funds surplus and has put the PCC in a robust reserves position for 2021, during which the PCC is working to a further deficit budget and will rely heavily on carried forward reserves.

Reserves Policy

It is the policy of the PCC to hold in free reserves enough liquidity to cover staff salaries and on-costs at 20% for three months.

The PCC has identified investments, held on behalf of the PCC by the Diocesan Board of Finance, in the Tucker Fund (Trust No. 762). The use of these funds is restricted to “Church Purposes”; such a broad description means that they are freely available for use as reserves. The PCC has tested this with the DBF by liquidating a few shares to ensure that the process is agreed with the DBF and will enable the funds to be released as / when required. The PCC has, therefore, designated the Tucker Fund as part of its reserves.

Following year end, the PCC entered into discussions with the Diocesan Board of Finance to arrange for the transfer of the Tucker Fund investments into the direct control of the PCC, to ensure it has the flexibility to liquidate these, should that prove necessary. Discussions are ongoing.

Information as of 31 December 2020

This information will be reported with the Trustees’ Annual Report but does not form part of the reserves policy.

----- Start of picture text -----
Annual salary costs £279,460 Free reserves (excluding £134,366
(projected) those held as tangible
fixed assets)
on costs @ 20% £55,892 Tucker Fund /Trust No. £71,706
762 (market value)
Sub-total £335,352 Sub-total £206,072
Divided by 4 £83,838
Reserves required £83,838 Reserves to hand £206,072
----- End of picture text -----

Reserves in hand at 31 December 2020 are higher than required by the reserves policy but are expected to be used up in the course of the PCC’s financial year 2021 and have been factored into the deficit budget for that year.

Investment policy and performance

The investment policy of the PCC is that

Sufficient funds to cover day-to-day requirements will be maintained in a bank current account linked to a deposit account. Income from Restricted funds which is not immediately expended will be maintained in a bank deposit account.

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Restricted Capital funds, Endowment funds and that element of Unrestricted Reserves which is not needed to be maintained in the linked current and deposit accounts, will be invested either in the Church of England Investment Fund income shares or in a safe short-term interest-bearing bond or deposit.

At 31 December 2020, Permanent Endowment Funds were £144,938 of which £141,706 was invested in Church of England Investment Fund income shares and the balance was in the deposit bank account. Restricted Funds were £197,948, of which £15,246 was invested in COIF income units, £6,029 was invested in a deposit account and the balance was accounted for by creditors and a current account balance. Unrestricted Funds were £135,634, of which £6,949 was invested in Church of England Investment funds, £55,649 was held on short-term deposit and the balance was held in trading balances and the current bank account.

PCC Giving Policy

The giving policy of the PCC was changed in 2020. The PCC’s financial activity and systems have changed significantly since the last giving policy was created in 2017 and it had become clear to the PCC that the old policy was increasingly difficult to apply to ensure that donations are made within the financial year to which they relate. The new policy adopted is designed to be easy to calculate and to apply and to ensure that donations from PCC funds are made before the end of the financial year, thus preventing the need for significant accruals to be included in the accounts. The new policy is as follows:

The PCC will each year give at least the first 5% of all gifts to us made through our planned and parish giving, regular service collections and associated Gift Aid, to external charities of both local and wider scope. We will aim to match this amount through fundraising for specific charities.

These amounts will be calculated from 1 October in the previous year to 30 September, and paid by 31 December.

“Regular services” are those organised by the church rather than services organised by external organisations and held in the church. Regular services do not include services organised by the church where the order of service states that the collection is for the benefit of another organisation. “Fundraising” includes events such as the Lent Appeal and Treefest, special collections such as Christian Aid Week, and services with collections for specific charities such as the Christingle service collection for the Children's Society. Also not included are other forms of charitable aid provided by the church (e.g. in kind).

During the year £7,023.26 in cash donations were paid out of the PCC’s resources to other charities and missions; this equates to 5% of all gifts to us made through our planned and parish giving, regular service collections and associated Gift Aid from 1 October 2019 to 30 September 2020 (a total of £140,465). This year, donations were made to the John Ray Initiative, the St Mary Redcliffe CE Academic and USPG. Due to the reversal of prior year accruals, the figure for such donations in the accounts is shown as £4,024.

An additional £1,576.55 cash donations were given to other charities and missions following the limited fundraising activities we were able to do in 2020. With the church building closed, and with many of our usual fundraising activities postponed or interrupted, it was not possible this year to match the giving out of restricted PCC resources as we would normally hope to do. The PCC considers that this was due to the unusual circumstances of 2020 as a pandemic year. Due to the reversal of prior year accruals, the figure for such donations in the accounts is shown as (£4,076).

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DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Going concern status

The PCC has considered whether, in the light of the COVID 19 crisis and continuing economic fallout, the PCC will have the ability to operate for the 12-month period from approval of these accounts. There is still material uncertainty as to when lockdown and social distancing restrictions will lift and when visitors, parishioners and members of the congregation will feel confident enough to return to 2019 levels of activity and participation in Church life. The PCC has budgeted for 2021 on the assumption that the Church building will not be fully open until at least 30 June 2021 and that there will only be a weak recovery in terms of income for Q2 and Q3 2021, with a hope for a more standard pattern of worship and income generation over the final quarter. There are plans for a further stewardship campaign in 2021, to build on the generosity of 2020.

Unrestricted grants, which totalled £425,101 in 2020, are expected (following discussions with funders) to increase to £525,000 over the next 12 months. Regular donations, with the gift aid reclaim, totalled £115,381 in 2020, and the PCC expects this income to at least remain stable over the next 12 months and has plans to increase giving further. With the unrestricted reserves brought forward at 1 January 2021 of £206,072, the PCC believes that it has £846,453 of funds available to enable it to operate over the next 12 months. The unrestricted expenditure in 2020 was £609,707 and is budgeted to increase to £780,000 in 2021. Forecasts and budgets prepared for the next 12 months and costs are subject to regular critical review. The PCC expects that the income suppressed by lockdown will start to pick up in late 2021, to provide a further financial buffer. On the basis of the above, the PCC has concluded that the “going concern” basis for the preparation of the accounts is valid.

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Plans for future periods

St Mary Redcliffe’s major development: Project 450

This project has been in development since 2008 and has become firmly rooted in our life as a Christian community, growing both in numbers and in confidence in its vocation, constantly reflecting on its mission as an historic parish church, its ministry to the ‘parish and beyond’ and responding to a vision which is everexpanding. This multi-faceted project seeks to address a number of objectives of the church:

Project 450 is overseen by a Project Board, established as a working group of the PCC. The Churchwarden currently chairs the board; it has the authority to add specialists to its numbers; and its power is limited to making recommendations to the PCC. Currently the board has amongst its members people experienced in land management, law, project management, city design, architectural design, public administration, fund raising, heritage interpretation … and the whys and wherefores of the Church of England.

The Project reached planning stage RIBA 2 in early 2020. Following a hiatus in the early days of lockdown, the Project Board reconvened via video conference during summer 2020 and has continued to work to refine the designs and plans for the project, in collaboration with our key stakeholders. The Project Board is conscious that a review of the project will be required once the immediate global health crisis has passed, to ensure that the project continues to meet the needs of the church and the community in a post-Covid world and to refocus the plans, as required. This review will focus in particular on the business plan and activity focus of the project, rather than the physical design.

Following a very positive meeting with City Council officers in the autumn, the decision was taken to submit a high level planning pre-application setting out the land uses and strategic principles. The next step is a further meeting between us and the planning team to plan a way forward.

Dan Talkes was appointed as design architect to Project 450 within the Purcell team that won the architectural design competition run by the PCC in 2016. Over the course of 2020, Dan Talkes relocated to another part of the country for personal reasons and joined another firm (Hall McKnight). The PCC had good relations with Purcell and were happy with the work the firm had done in getting Project 450 to RIBA 2 stage. However, on balance, the PCC felt that the contribution made by the design architect was critical and that an ongoing relationship with him was its priority. The PCC has accordingly appointed Hall McKnight as architects to take the project through its final phases.

Redcliffe Way development

There was very little progress on this during 2020. However, as we begin to emerge from the pandemic, there are positive signs of movement once again.

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Prewett Street

There was little progress on the Prewett Street development, due to the wider national health issues, but we remain optimistic that this initiative will re-start once lockdown measures have eased.

Employment Policies

The work of the Personnel Committee continued to ensure that the PCC is the best possible employer it can be.

The Redcliffe Plan

A new church development plan was introduced by the PCC in late 2020. The plan establishes a process of incremental improvement balanced with deliberate development, focusing on the four key themes outlined on page 2 (Objectives and Activities).

Deliberate Development

The Redcliffe Plan will focus initially on three themes for deliberate development:

  1. environmental sustainability; eco-church and becoming carbon neutral

  2. diversity, inclusion and contested history

  3. complementing our ‘in person’ presentation of worship, teaching and activity with our digital presentation; live streaming services and events; digital welcome and interpretation

The number of initial deliberate development focus areas has been deliberately limited, to ensure resources are focussed and objectives are realistic. The plan will be reviewed and updated annually, and further themes may be added in due course.

Incremental Improvement

Incremental Improvement is based on a Quality Improvement Method, used continuously across the whole range of church activities to identify and deliver sensible adjustments to current practice to enhance our ministry all around the church community and throughout the year. The initial incremental improvement themes are:

The Redcliffe Plan is overseen by a sub-committee of the PCC, chaired by Aggy Palairet, our curate. The subcommittee is to report back to the PCC with a timetable and programme for effecting change and actions in the focus areas over the coming year by March 2021.

The way we have constructed this long-term development plan has been highly commended by external Church of England authorities on strategic planning.

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Structure, Governance and Management

The underlying structure and governance of the PCC is provided by legislation, namely the Parochial Church Council Measures and the Church Representation Rules. As well as lay representatives elected from members of the Electoral Roll at the Annual Parochial Church Meeting, PCC membership is drawn from all licensed clergy, both elected Wardens and lay representatives from this parish elected to either the deanery synod of South Bristol or Bristol diocesan synod.

Every year at the APCM one third of the lay representatives on the PCC are elected to serve for three years. At the first meeting of the new PCC, by way of an induction, all members are reminded of their responsibility, authority and accountability to the church, for our staff and in partnership with our sister charity St Mary Redcliffe Church Lands Charity (211109). We take great care to discuss how to handle conflicts of interest as, historically, the PCC has had elected to it both members of staff and trustees of SMR Church Lands Charity. We make it a requirement for all trustees to be DBS checked and to sign a ‘Fit and Proper person’ form.

In the face of lockdown and the rapidity of changes facing the PCC and the church, the PCC resolved to delegate conduct of all PCC matters to the standing committee during the initial months of lockdown. A Coronavirus Co-ordination committee made up of the vicar, church wardens, head of operational development, associate vicar and curate met daily to address the most urgent operational demands of the lockdown. The full PCC reconvened via video conference in August 2020 and has picked up a more habitual bi-monthly meeting pattern, with the standing committee meeting to deal with PCC business in the intervening periods.

Since reforming, the PCC has restructured its sub-committees and continues to evaluate its pattern of meetings. As part of this restructure, the standing committee has been combined with the finance-sub committee to form the new Standing and Finance Committee and the Coronavirus Co-ordination group has been formalised into the Senior Leadership Team. Two new committees were formed: the Redcliffe Plan sub-committee (as noted on page 8 (Plans for future periods) above) and a new Governance and Compliance sub-committee, chaired by Prof John Steeds. The latter committee has oversight (in line with the Redcliffe Plan) of the incremental improvement of the PCC in line with the Charity Governance Code for smaller charities.

Reference and Administration

Charity full name The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe

Charity number 1134120

Charity address The Parish Office, Colston Parade, Redcliffe, Bristol. BS1 6RA

Charity Trustees on the date the report was approved:

Clergy (ex officio) Vicar – PCC Chairman The Revd Canon Daniel Tyndall Associate Vicar The Revd Kathryn Campion-Spall Associate Minister The Revd Anthony Everitt Curate The Revd Agnes Palairet

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DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Wardens (ex officio) Church Warden (Vice-Chair) Ms Elizabeth Shanahan Junior Warden Mr Richard Wallace Diocesan Synod Members (ex officio) to August 2021 Ms Auriol Britton Mr Kenneth Petrie Mrs Eleanor Vousden Deanery Synod Members (ex officio) to APCM 2023 Mr Richard Dyton Mrs Juliet Hagan Mrs Eleanor Vousden Elected Lay Representatives Mr Adam King to serve until 2021 Mr Chris Duncan Ms Mary Hall Prof John Steeds Mr Richard Dyton to serve until 2022 Ms Roma Widger Mr Francis John Viney Ms Alex Notay Ms Clare Satchwell Mr Paul Bassett to serve until 2023 Ms Liz Hewitt Mrs Esther Keller Mr Adam Lloyd Mr Hayden Shackell Mrs Eleanor Vousden

Names of any other person who served as a charity trustee in the financial year in question

Mrs Christine Bush

Mrs Ruth Jones Mrs Sarah King Ms Rebecca James (previously Macron) Mr Gary Musson Dr Beatrice Purser-Hallard Ms Greca Warr

Names and addresses of officers and advisers

Head of Operational Development Mrs Roseanna Wood

Honorary Clergy The Revd Peter Dill Secretary to the PCC Ms Héloïse Radigois Treasurer to the PCC Mr David Harrows (until April 2020) Ms Elizabeth Shanahan and Mr Richard Wallace (from April 2020)

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Bankers National Westminster Bank plc Ashton Branch Bristol Independent Joshua Kingston ACA Examiner Burton Sweet The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton BS48 1UR Bookkeepers Burnside and Accountants 61 Queen Square Bristol BS1 4JZ Architect Mr Marcus Chantrey BSc(Hons) and BArch (Hons) Benjamin & Beauchamp The Borough Studios The Borough Wedmore Somerset BS28 4EB

Thanks and acknowledgements

Whilst the formal responsibility for the work of the PCC falls to a highly committed group of trustees, “promoting in the ecclesiastical parish the whole mission of the church” requires far more people to ensure that the mission of the church moves forward.

The PCC gladly record its thanks to all those who give of their time, energy and money to build the Kingdom of God in this part of the city of Bristol: whether volunteers or staff, trustees of sister charities or members of one of our groups of supporters. In particular we would pay tribute to the trustees of our closest allies and funders: the Canynges Society (Charity No 242231), whose annual Presidential appeal enables significant financial donations to be made towards the upkeep and improvement of the church; the Temple Ecclesiastical Charity (Charity No 229907), which offers us financial support every year; and St Mary Redcliffe Church Lands Charity (Charity No 211109), whose careful stewardship of historic financial assets enables the fabric of the building to be maintained to a very high standard, for a wide range of staff to be employed to further the work of the church and, in this particular year, has provided further financial support to the PCC to weather these difficult economic times.

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DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Statement of Trustees' Responsibilities

The trustees and members of the PCC are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Trustees

Signed and dated 13 May 2021 Signed and dated 13 May 2021 Canon Daniel Tyndall Elizabeth Shanahan Vicar Churchwarden

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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2020

Independent examiner’s report to the trustees of St Mary Redcliffe PCC

I report to the trustees on my examination of the accounts of St Mary Redcliffe PCC (the Charity) for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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

13 May 2021

Date: …………………………

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DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2020

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
Expenditure on:
Raising funds
Fundraising and publicity
6
Fundraising trading: cost of goods
sold and other costs
7
Charitable activities
8
Total expenditure
and losses on investments
Gains/(Losses) on investments
Unrealised
12
Transfer between funds
15
Net income/(expenditure) for the year
and movement in funds
Reconciliation of funds:
Total funds at 1 January 2020
15
Total funds at 31 December 2020
15
Net income/(expenditure) before gains		 Unrestricted
Funds
£
583,782
6,686
21,423
4,463
616,354
3,902
2,511
603,294
609,707
6,647
432
11,102
18,181
117,453
135,634		 Restricted
Funds
£
187,958
-
-
4		 Endowment
Funds
£
-
-
-
-		 Total Funds
2020
£
771,740
6,686
21,423
4,467		 Total Funds
2019
£
692,907
29,979
39,443
4,779
187,962 - 804,316 767,108
1,881
1,200
121,369		 -
-
-		 5,783
3,711
724,663		 11,597
9,749
678,044
124,450 - 734,157 699,390
63,512
1,137
(11,102)		 -
9,113
-		 70,159
10,682
-		 67,718
24,033
-
53,547
144,401		 9,113
843,821		 80,841
1,105,675		 91,751
1,013,924
197,948 852,934 1,186,516 1,105,675

The Charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing

Prior year comparatives can be found in note 10

The notes on pages 20 to 32 form part of these financial statements

17

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE BALANCE SHEET

AS AT 31 DECEMBER 2020

Note
Fixed assets
Tangible assets
11
Central Board of Finance investments
12
Current assets
Debtors
13
Short term deposits
Cash at bank and in hand
Creditors : Amounts falling due
within one year
14
Net Current Assets
Net assets
Funds
15
Unrestricted - general funds
Unrestricted - designated funds
Restricted funds
Endowment funds		 2020
£
709,264
163,901
873,165
94,900
55,649
198,856
349,405
(36,054)
313,351
1,186,516
101,103
34,531
135,634
197,948
852,934
1,186,516		 2019
£
709,327
153,219
862,546
33,502
53,843
277,728
365,073
(121,944)
243,129
1,105,675
44,543
72,910
117,453
144,401
843,821
1,105,675

These financial statements were approved by the Parochial Church Council on and are signed on its behalf by:13 May 2021

Rev Daniel Tyndall Ms Elizabeth Shanahan

The notes on pages 20 to 32 form part of these financial statements

18

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

STATEMENT OF CASH FLOWS

YEAR ENDED 31 DECEMBER 2020

Note
Net cash used in operating activities
Cash flows from investing activities:
Purchase of fixed assets
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents carried forward
Reconciliation of net income/(expenditure) in funds to cash flow from operating activities
Net income/(expenditure)
Depreciation of fixed assets
Gains on investments
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Analysis of changes in net funds:
Short term deposits
Cash at bank and in hand		 2020
£
(76,313)
(753)
(753)
(77,066)
331,571
254,505
2020
£
80,841
816
(10,682)
(61,398)
(85,890)
(76,313)
At 1
January 2020
Cash flows
53,843
1,806
277,728
(78,872)		 2019
£
116,871
(552)
(552)
116,319
215,252
331,571
2019
£
91,751
1,181
(24,034)
(5,620)
53,593
116,871
At 31
December 2020
55,649
198,856
254,505
331,571
(77,066)

The notes on pages 20 to 32 form part of these financial statements

19

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1 Accounting policies
The financial statements have been prepared in accordance with the the Church Accounting Regulations 2006 together with
the Charities Act 2011 and the Charities Statement of Recommended Practice (FRS 102).
The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market
value.
The charity is a public benefit entity.
Basis of preparation of the accounts - going concern
As outlined in the “Going concern status” disclosure in the Trustees’ Annual Report, the Trustees consider that there are no material
uncertainties about the Church’s ability to continue as a going concern in light of Covid-19.
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. These include funds designated for a particular purpose by the PCC.
Restricted funds are accounted for in accordance with the particular terms of trust arising from the express or implied wishes of donors in so far
as these are intended to be legally binding on the Trustees. The purpose of any restricted funds is described in note 15.
Endowment funds are where the capital value must be maintained, but the income generated by these funds can be utilised according to the
restrictions, if any, associated with each endowment. Grant funding for fixed assets for the PCC's continuing use is accounted for as an
expendable endowment.
The accounts include transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church
groups that owe an affiliation to another body nor those that are informal gatherings of church members.
Income recognition
Voluntary income and capital sources
· Collections are recognised when made.
· Income tax recoverable on covenanted or gift aid donations is recognised when due.
· Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its entitlement and the likely amount due.
· Funds raised by events are accounted for gross.
· Sales of books and other goods from the church bookstall are accounted for gross.
Other ordinary income
· Rental income from the letting of church premises is accounted for when earned.
· Parochial fees due to the PCC for weddings, funerals etc are accounted for on an event by event basis.
Income from investments
· Dividends and interest are accounted for when due. Tax recoverable on such income is accrued for on the same basis.
Investment gains and losses
· Realised gains or losses are recognised when investments are sold.
· Unrealised gains or losses are accounted for on revaluation of investments at 31 December.

Expenditure recognition

Grants and donations

Grants payable are accounted for when payable. The payment of restricted collections on behalf of other charities are accounted for in the same

period the gifts are collected on the basis that there is a genuine expectation in the mind of the recipient that the payment will be received.

20

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

2

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Fixed Assets

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is excluded from the accounts by s10(2)(a) of the Charities Act 2011.

No value is placed on moveable church furnishings held by the church wardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvement, is written off.

Other land and buildings

Other land and buildings held on behalf of the PCC for its own purposes is valued at the lower of cost and market value. No depreciation is charged against such properties but any expenditure on maintenance or improvement is written off as incurred. An annual impairment review is carried out by Trustees.

Organ

The costs of the organ restoration have been capitalised at cost. As permitted by the Charities SORP, the organ is not being depreciated on the grounds that the depreciation charge and the accumulated depreciation are not material because the asset has a very long useful life. An annual impairment review is carried out by Trustees.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight-line basis over 5 years.

Investments

Investments are valued at market value at 31 December.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less any provision for amounts that may prove uncollectable.

Short-term deposits include cash held on deposit either with the Central Board of Finance or at the bank.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Donations and legacies
Planned Giving:
Direct giving
Income tax recovered (gift aid)
Collections (open plate) at all services
Sundry donations
Legacies
Mission and charities
Grant - Temple Ecclesiastical Charity
Staffing Grant - St Mary Redcliffe Church Lands Charity
Fabric and Operational Grants - St Mary
Redcliffe Church Lands Charity
Grants rec'd - Faithspace
Grants - UWE Bristol Internship Scheme
St Mary Redcliffe CLC - contribution towards admin costs
St Mary Redcliffe CLC - contribution for altar goods
St Mary Redcliffe CLC - contribution towards publicity
Grant - Facilities Development project
Grants - Other
Choir - income
Choir - trip income
Choir - Music scholarships
Choir - Conductor Occasional choir
Covid-19 Emergency
Vicars Discretionary
Treefest
Parish weekend
Night shelter
Youth worker		 Unrestricted
Funds
£
93,210
22,171
13,644
17,331
11,325
-
78,706
238,443
87,150
-
-
11,276
5,206
4,320
-
-
-
-
-
-
-
1,000
-
-
-
-		 Restricted
Funds
£
-
-
-
15,934
-
1,560
-
-
-
-
-
-
-
-
51,690
9,135
17,055
75
13,900
-
55,061
-
1,048
-
-
22,500		 Total Funds
2020
£
93,210
22,171
13,644
33,265
11,325
1,560
78,706
238,443
87,150
-
-
11,276
5,206
4,320
51,690
9,135
17,055
75
13,900
-
55,061
1,000
1,048
-
-
22,500		 Total Funds
2019
£
83,004
19,536
38,969
52,915
38,493
10,953
61,100
222,747
-
11,184
1,500
3,101
2,500
-
68,608
-
9,300
5,000
10,400
441
-
-
6,812
7,077
567
38,700
583,782 187,958 771,740 692,907

21

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

2
Donations and legacies continued
Prior year
Planned Giving:
Direct giving
Income tax recovered (gift aid)
Collections (open plate) at all services
Sundry donations
Legacies
Mission and charities
Grant - Temple Ecclesiastical Charity
Grant - St Mary Redcliffe Church Lands Charity
Grant - Faithspace
Grant - UWE Bristol Internship Scheme
St Mary Redcliffe CLC - contribution towards admin costs
St Mary Redcliffe CLC - contribution for altar goods
Grant - Facilities Development project
Choir - income
Choir - trip income
Choir - Music scholarships
Choir - Conductor Occasional choir
Treefest
Parish weekend
Night shelter
Youth worker
3
Charitable activities
Fees for weddings, baptisms and funerals
Education events
Good Friday		 Unrestricted
Funds
£
83,004
19,536
38,969
52,915
38,493
-
61,100
222,747
-
-
3,101
2,500
-
-
-
-
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-
10,953
-
-
11,184
1,500
-
-
68,608
9,300
5,000
10,400
441
6,812
7,077
567
38,700		 Total Funds
2019
£
83,004
19,536
38,969
52,915
38,493
10,953
61,100
222,747
11,184
1,500
3,101
2,500
68,608
9,300
5,000
10,400
441
6,812
7,077
567
38,700		 Total Funds
2019
£
28,126
368
1,485
522,365 170,542 692,907
Unrestricted
Funds
£
6,869
(183)
-		 Restricted
Funds
£
-
-
-		 Total Funds
2020
£
6,869
(183)
-
6,686 - 6,686 29,979

In the prior year, all funds were unrestricted funds.

4

Other trading activities
Shop sales
Special fund-raising events
Undercroft lettings and catering
Prickett Stand
Refreshments
Organ recitals
Tours and search fees
Magazine postage
Vodafone mast licence
Other income		 Unrestricted
Funds
£
2,682
-
1,450
-
-
-
(300)
15
17,576
-		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-		 Total Funds
2020
£
2,682
-
1,450
-
-
-
(300)
15
17,576
-		 Total Funds
2019
£
8,192
3,470
4,059
3,341
715
4,654
548
66
12,666
1,732
21,423 - 21,423 39,443

In the prior year, of the total funds only Organ recitals (total of £4,654) were restricted funds.

5

Investment income
Bank interest
Income on CBF investments/deposits
Prior year
Bank interest
Income on CBF investments/deposits		 Unrestricted
Funds
£
206
4,257		 Restricted
Funds
£
4
-		 Total Funds
2020
£
210
4,257		 Total Funds
2019
£
474
4,305
4,463 4 4,467 4,779
466
4,280		 8
25		 474
4,305		 178
4,157
4,746 33 4,779 4,335

22

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

6
Fundraising and publicity
Fundraising and publicity
Website development
Treefest
In the prior year, the total funds broke down as follows: £10,470 unrestricted fund
7
Fundraising trading: cost of goods sold and other costs
Special event costs
Shop purchases
Undercroft
Other fundraising costs		 Unrestricted
Funds
£
3,902
-
-		 Restricted
Funds
£
-
1,210
671		 Total Funds
2020
£
3,902
1,210
671		 Total Funds
2019
£
10,470
-
1,127
3,902 1,881 5,783 11,597
s and £1,127 re
Unrestricted
Funds
£
252
2,018
35
206		 stricted funds.
Restricted
Funds
£
1,200
-
-
-		 Total Funds
2020
£
1,452
2,018
35
206		 Total Funds
2019
£
1,181
6,662
1,449
457
2,511 1,200 3,711 9,749

In the prior year, total funds comprised only unrestricted funds.

23

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

8

Note
Charitable activities
Staff costs
9
Home missions and grants to other charities
Development - Sunday School
Parish Christmas cards
Education officer expenses
Diocesan quota
Fees dispersed for weddings, baptisms and funerals
Altar expenses and candles
Flowers
Vicar's discretionary fund
Sundries
Musicians
Health and safety
Radios
Vicar's expenses
Community Youth Development worker costs
Community Development worker costs
Redcliffe Together
Facilities Project costs
Night shelter
Organ Bequest
Parish weekend
Good Friday
Redcliffe Care
Choir expenses
Choir trip costs
Music scholarships
Office and IT expenses
Postage, printing and stationery
Telephone and internet
Parish office running expenses and cleaning
Repairs and Fabric works
Equipment repairs and new equipment
Copyright licence
Stewardship
Subscriptions and directories
Conferences
Staff training and travel costs
Staff recruitment and interview expenses
Depreciation
Rent
Bookkeeping and management accounts
Payroll fees
Legal fees and professional fees
Database
Grant to St Mary Redcliffe CLC towards Fabric repairs
Independent Examiner's fees
Statutory accounts preparation		 Unrestricted
Funds
£
271,259
4,024
-
532
-
120,000
(2,487)
1,597
220
330
6,226
910
3,632
3,120
2,983
-
202
-
-
-
18,000
-
-
-
-
-
-
18,195
9,182
3,858
12,111
70,785
3,365
836
384
576
-
1,105
-
816
(4,500)
40,337
2
5,197
2,523
(3,750)
1,404
10,320		 Restricted
Funds
£
15,237
(4,076)
458
-
17
-
-
-
-
-
-
-
-
-
-
8,494
-
20,821
58,991
578
-
-
-
378
5,791
-
14,680
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total Funds
2020
£
286,496
(52)
458
532
17
120,000
(2,487)
1,597
220
330
6,226
910
3,632
3,120
2,983
8,494
202
20,821
58,991
578
18,000
-
-
378
5,791
-
14,680
18,195
9,182
3,858
12,111
70,785
3,365
836
384
576
-
1,105
-
816
(4,500)
40,337
2
5,197
2,523
(3,750)
1,404
10,320		 Total Funds
2019
£
269,597
24,244
1,903
838
177
117,500
18,346
4,883
1,225
383
4,543
10
1,256
3,306
8,955
8,434
-
-
92,886
881
-
5,987
1,366
-
6,486
848
4,831
16,461
13,840
309
12,118
-
100
1,177
461
781
500
6,435
1,988
1,181
6,000
17,280
622
7,181
2,523
5,000
1,602
3,600
603,294 121,369 724,663 678,044

24

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

8
Charitable activities continued
Note
Prior year
Staff costs
9
Home missions and grants to other charities
Development - Sunday School
Parish Christmas cards
Education officer expenses
Diocesan quota
Fees dispersed for weddings, baptisms and funerals
Altar expenses and candles
Flowers
Vicar's discretionary fund
Sundries
Musicians
Health and safety
Radios
Vicar's expenses
Community Youth Development worker costs
Facilities Project costs
Night shelter
Parish weekend
Good Friday
Choir expenses
Choir trip costs
Music scholarships
Office and IT expenses
Postage, printing and stationery
Telephone and internet
Parish office running expenses and cleaning
Equipment repairs
Copyright licence
Stewardship
Subscriptions and directories
Conferences
Staff training and travel costs
Staff recruitment and interview expenses
Depreciation
Rent
Bookkeeping and management accounts
Payroll fees
Legal fees and professional fees
Database
Grant to St Mary Redcliffe CLC towards Fabric repairs
Independent Examiner's fees
Statutory accounts preparation		 Unrestricted
Restricted
Total Funds
Funds
Funds
2019
£
£
£
247,127
22,470
269,597
11,711
12,533
24,244
1,800
103
1,903
838
-
838
-
177
177
117,500
-
117,500
18,346
-
18,346
4,883
-
4,883
1,225
-
1,225
383
-
383
4,543
-
4,543
10
-
10
1,256
-
1,256
3,306
-
3,306
8,955
-
8,955
-
8,434
8,434
-
92,886
92,886
-
881
881
5,987
-
5,987
1,366
-
1,366
-
6,486
6,486
-
848
848
-
4,831
4,831
16,461
-
16,461
13,840
-
13,840
309
-
309
12,118
-
12,118
100
-
100
1,177
-
1,177
461
-
461
781
-
781
500
-
500
6,435
-
6,435
1,988
-
1,988
1,181
-
1,181
6,000
-
6,000
17,280
-
17,280
622
-
622
7,181
-
7,181
2,523
-
2,523
5,000
-
5,000
1,602
-
1,602
3,600
-
3,600
528,395
149,649
678,044

25

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

9 Staff costs, key management personnel & transactions with Trustees

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Gross wages and salaries
Social security costs
Pension contributions
Temporary staff
Other staff costs		 Unrestricted
Funds
£
236,745
14,983
18,938
-
593		 Restricted
Funds
£
20,001
-
-
-
-		 Total Funds
2020
£
256,746
14,983
18,938
-
593		 Total Funds
2019
£
240,405
13,863
12,345
4,413
791
271,259 20,001 291,260 271,817

No remuneration or expenses were paid to the members of the PCC (known as the charity Trustees) during the year (2019 - Nil). No significant expenses were waived.

Prior year
Gross wages and salaries
Social security costs
Pension contributions
Temporary staff
Other staff costs		 Unrestricted
Funds
£
215,715
13,863
12,345
4,413
791		 Restricted
Funds
£
24,690
-
-
-
-		 Total Funds
2019
£
240,405
13,863
12,345
4,413
791		 Total Funds
2018
£
74,899
2,612
4,688
11,118
264
247,127 24,690 271,817 93,581
Vergers
Clerical and support staff
The average annual headcount of persons employed by the PCC is detailed below:		 2020
2019
Number
Number
3
3
15
15
18
18

26

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

10
Prior year fund comparatives
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
Total income
Expenditure on:
Raising funds
Fundraising and publicity
Fundraising trading: cost of goods sold and other costs
Charitable activities
Total expenditure
Net income/(expenditure) and net movement
in funds before gains and losses on investments
Gains/(Losses) on investments
Realised
Unrealised
Net income for the year
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds at 1 January
Total funds at 31 December
11
Tangible fixed assets
Cost
At 1 January 2020
Additions
Disposals
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
Eliminated on disposals
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Unrestricted
Funds
£
522,365
29,979
34,789
4,746		 Restricted
Funds
£
170,542
-
4,654
33		 Endowment
Funds
£
-
-
-
-		 Total Funds
2019
£
692,907
29,979
39,443
4,779
591,879 175,229 - 767,108
10,470
9,749
528,395		 1,127
-
149,649		 -
-
-		 11,597
9,749
678,044
548,614 150,776 - 699,390
43,265
-
1,027		 24,453
-
2,113		 -
-
20,893		 67,718
-
24,033
44,292
-		 26,566
-		 20,893
-		 91,751
-
44,292
73,161		 26,566
117,835		 20,893
822,928		 91,751
1,013,924
117,453 144,401 843,821 1,105,675
Organ
£
707,996
-
-
-		 Staging and
Shop fittings
£
16,351
-
-
-		 Office
equipment
£
34,118
753
-
-		 Total
£
758,465
753
-
-
707,996 16,351 34,871 759,218
-
-
-		 16,351
-
-		 32,787
816
-		 49,138
816
-
- 16,351 33,603 49,954
707,996 - 1,268 709,264
707,996 - 1,331 709,327

27

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

12 Investments with Central Board of Finance

13

14

7257 shares in Church Funds Investment Fund (CFIF)
835 units in Charities Investment fund
Cost brought forward
Additions in year
Disposals in year
Cost carried forward
Market Value as at 1 January
Additions in year
Disposal proceeds in year
Unrealised gain/(loss) on revaluation
Realised gain/(loss)
Market Value as at 31 December
Debtors
Other debtors
Creditors: amounts falling due within one year
PAYE/NI
Other creditors		 2020
£
46,942
-
-		 2019
£
46,942
-
-
46,942 46,942
153,219
-
-
10,682
-		 129,185
-
-
24,034
-
163,901 153,219
2020
£
94,900		 2019
£
33,502
94,900 33,502
2020
£
-
36,054		 2019
£
4,148
117,796
36,054 121,944

28

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

15
Movement in funds
Current year
Unrestricted funds
- General
- Designated - Churchwardens Subscription
- Designated - Staff Accomodation
- Designated - Music
- Designated - Emergency Disaster
- Designated - Childrens Corner
- Designated - Social Committee
Restricted funds
- Redcliffe Care
- Emergency Disaster appeals
- Childrens Corner
- Social Committee
- Guild of Servers fund
- Bedminster Churchlands
- Williams Bequest - Sunday school
- Sundry donations
- Choir account
- Choir - trip account
- Music Scholarships
- Conductor of Occasional Choir
- Special appeals and collections for other
organisations and charities
- Facilities Development project
- Night shelter
- Youth worker
- Education officer
- John Gillman Bequest
- Jenkins fund (Flower fund)
- UWE Bristol Internship
- Faithspace
- COVID-19 Emergency
- Other grants
Endowment funds
- Permanent endowment
- Expendable endowment
Total funds		 At
1 January
2020
£
44,543
72,910
-
-
-
-
-		 Income
£
616,354
-
-
-
-
-
-		 Expenditure
£
(607,882)
-
-
-
(1,500)
(27)
(298)		 Transfers
£
47,656
(50,000)
3,000
8,621
1,500
27
298		 Gains/(losses)
on
investments
£
432
-
-
-
-
-
-		 At
31 December
2020
£
101,103
22,910
3,000
8,621
-
-
-
117,453
6,353
1,500
27
298
156
14,109
5,302
-
6,225
5,704
8,189
1,212
29,667
13,262
1,123
38,206
(177)
535
25
1,500
11,185
-
-		 616,354
4
-
-
-
-
-
-
15,934
17,055
75
13,900
-
2,608
51,690
-
22,500
-
-
-
-
-
55,061
9,135		 (609,707)
(378)
-
-
-
-
-
(458)
-
(5,791)
-
(14,680)
-
2,205
(58,991)
(578)
(23,731)
(17)
(1,210)
-
-
-
(20,821)
-		 11,102
13,647
(1,500)
(27)
(298)
-
-
-
-
-
-
(7,409)
(1,212)
(13,647)
-
-
-
-
194
675
(25)
(1,500)
-
-
-		 432
-
-
-
-
-
1,137
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 135,634
19,626
-
-
-
156
15,246
4,844
15,934
17,489
5,779
-
-
20,833
-
5,961
545
36,975
-
-
-
-
11,185
34,240
9,135
144,401
135,825
707,996		 187,962
-
-		 (124,450)
-
-		 (11,102)
-
-		 1,137
9,113
-		 197,948
144,938
707,996
843,821 -
804,316		 - - 9,113 852,934
1,105,675 (734,157) - 10,682 1,186,516

29

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

15 Movement in funds (continued)

Prior year
Unrestricted funds
- General
- Designated - Churchwardens Subscription
Restricted funds
- Redcliffe Care
- Emergency Disaster appeals
- Childrens Corner
- Social Committee
- Guild of Servers fund
- Bedminster Churchlands
- Williams Bequest - Sunday school
- Choir account
- Choir - trip account
- Music Scholarships
- Conductor of Occasional Choir
- Special appeals and collections for other
organisations and charities
- Facilities Development project
- Night shelter
- Youth worker
- Education Officer
- John Gillman Bequest
- Jenkins fund (Flower fund)
- UWE Bristol Internship
- Faithspace
Endowment funds
- Permanent endowment
- Expendable endowment
Total funds		 At
1 January
2019
£
50,251
22,910		 Income
£
541,879
50,000		 Expenditure
£
(548,614)
-		 Transfers
£
-
-		 Gains/(losses)
on
investments
£
1,027
-		 At
31 December
2019
£
44,543
72,910
73,161
6,345
1,500
27
298
156
11,996
5,405
3,411
1,552
2,621
771
13,831
37,540
1,438
30,410
-
535
-
-
-		 591,879
8
-
-
-
-
-
-
9,300
5,000
10,400
441
29,496
68,608
566
38,700
-
-
25
1,500
11,185		 (548,614)
-
-
-
-
-
-
(103)
(6,486)
(848)
(4,832)
-
(13,660)
(92,886)
(881)
(30,904)
(177)
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 1,027
-
-
-
-
-
2,113
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 117,453
6,353
1,500
27
298
156
14,109
5,302
6,225
5,704
8,189
1,212
29,667
13,262
1,123
38,206
(177)
535
25
1,500
11,185
117,836
114,932
707,996		 175,229
-
-		 (150,777)
-
-		 0
-
-		 2,113
20,893
-		 144,401
135,825
707,996
822,928 -
767,108		 - - 20,893 843,821
1,013,925 (699,391) - 24,033 1,105,675

Designated funds

Churchwardens Subscription

Funds collected from general cash donations to the two static collection boxes in the Church building and held as designated funds to be spent at the discretion of the Vicar and the Churchwardens. In 2019, a one-off unrestricted donation of £50,000 was made to the PCC and was allocated to the Churchwardens Subscription Fund. The PCC has chosen to release this amount back to general, unrestricted funds to meet expenditure needs in 2020 and projected for 2021.

Staff Accomodation

Designated fund to cover expenditure on repair and decoration at properties leased to the PCC by the CLC and occupied by staff for the purpose of their employment.

Music

Grants towards the provision of choral and other music (including, without limitation, the continuing development of the singers and musicians) in the Church. The PCC sought permission from the donor to de-restrict the restricted funds previously held and hold as designated funds for which permission was granted

Restricted funds

Redcliffe Care

Grants and donations received to fund the PCC's outreach programme, providing welfare and social activities in the parish.

Emergency Disaster appeals

This fund was set up with a donation from the Churchwardens Subscription account to enable the PCC to respond to emergency disasters as part of the then PCC Giving Policy. Following the changes to the PCC Giving Policy in 2020, this fund has been closed.

Childrens Corner

This fund was set up with a donation from the Churchwardens Subscription account to provide toys and a soft play area in the church for children. The PCC considers that this fund has been exhausted in 2020.

30

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Restricted funds (continued) Social Committee This fund represents the use of surpluses from events the committee organises to replenish and improve catering equipment and facilities. The PCC considers that this fund properly represents designated, rather than restricted funds, and has been exhausted in 2020 in funding costs to support social activities and support for our congregation during the pandemic. Guild of Servers fund

This fund represents money raised by the Servers and is used to donate to charity and fund the servers dinner.

Bedminster Churchlands

This represents the PCC's share of income and investments held by the Bedminster Church Lands Charity, which derive from investments previously held by St Johns Bedminster Church (now closed) and some ground rents and is to be used for furthering the religious and other charitable work within the parishes of St Mary Redcliffe and St Michael and All Angels. The Bedminster Church Lands Charity is, by agreement with the PCC, not currently distributing income to its benefeciaries. Williams Bequest - Sunday school Income from the sale of investments previously held in the name of the Williams Bequest, to be used to defray the expenses of the Sunday School.

Choir account and Choir trip account

Choir Account - Grants and Donations provided to the PCC for expenditure on the choir. Choir Trip Account - Payments made to to the PCC to fund choir trip and tours.

Music Scholarships and Conductor of Occasional Choir

These are grants from St Mary Redcliffe CLC for the provision of music scholarships and payments to various conductors of the Occasional choir and are managed by the Director of Music on behalf of the PCC. The PCC considers that these funds are properly designated, not restricted funds and have reclassified them accordingly. Special appeals and collections for other organisations and charities During the year collections are made on behalf of other organisations and charities at concerts, Christmas carol concerts, lent appeal, organ recitals and other occasional services. These are then paid out to these organisations and charities plus gift aid where appropriate. Facilities Development project (formerly Architect's competition) Funds to support the planning, progression and delivery of a £11 million project to regenerate the area around the church and provide a visitor centre, improved parish office facilities, exhibition space, a café, shop, meeting hall and a community centre. Night shelter The PCC is taking part in the Bristol Churches Winter Night Shelter project which is a partnership of churches providing shelter to an agreed number of homeless people per night. Income was raised to provide for the costs of providing food and shelter. Youth Worker Grants and donations paid in support of youth work carried out by the PCC in the parish. Education officer The Education Officer undertakes workshops with local schools on religious education and related subjects. This fund was closed in 2020. John Gillman Bequest

In August 2010 the PCC received a legacy from the estate of John Allan Gillman that is to be used for educational purposes. It was decided that expenditure that is currently charged to education, training and mission should be set against this fund and also the expenses of the revamp of the website.

Jenkins Fund

This restricted fund is for the provision of flowers in church.

UWE Bristol internship

This restricted and time limited fund supported university undergraduates to act as welcomers in church during the summer of 2019. The funds were spent in summer 2019 but not fully reflected in the 2019 accounts. This has been corrected in the 2020 accounts and the fund has been closed.

Faithspace

This is the name given to the Anglican/Methodist Church Centre on Prewett Street. It provides a Christian presence at the heart of the community of South Redcliffe and a building that houses community and faith-based activities.

31

DocuSign Envelope ID: AEB1A03A-35C0-4A7E-B303-294E87E04B0B

16

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MARY REDCLIFFE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

Restricted funds (continued)

COVID-19 Emergency

Grants and donations received to fund the PCC's COVID-19 emergency outreach programme, providing welfare and social support to the parish. The principal funders were the National Lottery Community Fund, Bristol City Council and The Redcliffe Parish Charity.

Other grants

Grants received from Bristol Cultural Development Partnership to fund the Chatterton Anniversary project planned for 2020 (and postponed due to the pandemic).

Sundry donations

Grant from the Canynge's Society to fund the installation in the church building of fixed cameras to support the livestreaming of services.

Endowment funds

Permanent endowment

This fund represents investments in CBF Church of England Investment Fund which arose from the following trusts; the Horace Gummer Trust, the Jenkins Fund and St Mary Redcliffe with Temple and St Johns Bedminster. There are 6,826 units which are administered by the Diocese of Bristol and 91 units by the PCC itself. The income is to be used for general church purposes, choir expenses and helping the poor and sick of the local area originally covered by the parishes of St Mary Redcliffe, Temple and St Johns Bedminster.

Expendable endowment

This fund represents the carrying value of the church organ which was restored following the receipt of capital gifts.

Analysis of net assets between funds

Current year
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds
Endowment funds
Prior year
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds
Endowment funds		 Fixed assets
£
1,268
-
-
707,996
709,264
Fixed assets
£
1,331
-
-
707,996
709,327		 Investments
£
6,949
-
15,246
141,706		 Current
assets
£
128,629
34,531
183,013
3,232		 Current
liabilities
£
(35,743)
-
(311)
-		 Total
£
101,103
34,531
197,948
852,934
163,901 349,405 (36,054) 1,186,516
Investments
£
6,518
-
14,109
132,592		 Current
assets
£
158,327
72,910
130,603
3,233		 Current
liabilities
£
(121,633)
-
(311)
-		 Total
£
44,543
72,910
144,401
843,821
153,219 365,073 (121,944) 1,105,675

32