## **St Mary Redcliffe**
**Trustees Annual Report and Financial Statements**
**The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe**
**Charity No: 1134120**
**Year ending 31[st] December 2021**
The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe: Charity No. 1134120 : Trustees Report : Year Ended 31 December 2021
## **Contents**
|**Objectives and Activities**|**2**|
|---|---|
|**Achievements and performance**|**2 - 4**|
|**Financial Review**|**4**|
|**Plans for future periods**|**7**|
|**Structure, Governance and Management**|**8**|
|**Reference and Administration**|**8 - 10**|
|**Statement of Trustees’ Responsibilities**|**11**|
|**Independent Examiner’s Report**|**12**|
|**Statement of Financial Activity**|**13**|
|**Balance Sheet**|**14**|
|**Statement of Cash Flows**|**15**|
|**Notes to the Financial Statements**|**16 – 33**|
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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 2021 :
## **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_
- _as a thriving, inclusive Christian community_
- _as a recognised, welcoming heritage destination_
- _as a church that makes a difference in the parish and beyond_
- _all animated by a progressive and sustainable organisation._
In the last year the presence of Covid meant continued pressure on SMR to be what we are called to be and to do what we are called to do. Nonetheless, the staff and volunteer team continued to respond with creativity and energy to ensure that we reacted to the changing regulatory framework within which we had to work in order to deliver worship in church and on line, pastoral care of the congregation and practical and emotional support to resident parishioners.
## **Achievements and performance**
## **Thriving, inclusive Christian community**
As regulations allowed we opened up for worship in church and, for our children and families, worship outside in the churchyard. We were able to put in place a ticketing system which was flexible and responsive whilst always allowing some capacity for those who turned up on spec. Though regularly fully booked, we rarely had to turn people away. The choir, one of the hallmarks of our worship, was reestablished and in doing so we realised that most of the children, especially the boys, were entirely new to singing services in church and had to be trained ‘from scratch’. We ran a comprehensive consultation on how our liturgical life should look as we emerge from Covid and made some changes to our pattern of worship: on Sundays Choral Matins is now before the Sung Eucharist, the 8.00am service is now according to the Book of Common Prayer and the 10.30 Eucharist is now always in contemporary language, our midweek services were reduced from two, on Tuesday and Thursday, to one on a Wednesday. We also decided to maintain a presence online for the majority of our services and, since we brought in the full pattern of worship services in October, we have live-streamed Morning Prayer every day (which we have done every day since the first lockdown), three of our four Sunday services and our midweek Communion service. Thanks to the increased use of Zoom we were able to run a number of small groups in Advent and Lent, theological study groups, Living in Love and Faith and the Pastoral Principals courses. Those who attend these groups value them highly, and we are keen to engage more members of the congregation in small groups as their value to discipleship is well attested. We welcomed two new members to the Ministry Team: Canon Stephen Spencer as an assistant priest and Rev Simon Goodman, a long-time member of the church, was ordained deacon to serve in this parish. Another member of the congregation, our Youth and Families Minister Becky James, continued her training for ordination.
## **Recognised, welcoming heritage destination**
With the church closed to visitors or on reduced opening hours for most of the year, we have been preparing to welcome visitors and we have developed our online offer. We ran a series of talks online under the title of ‘Redcliffe Talks’ focussed around Thomas Chatterton and his links to other poets. This has
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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 2021
come out of our work with partners across the city on a project called “Bristol: a poetic city”. We welcomed a poet in residence for a week in the summer and, although outside the scope of this report, have just received copies of the book of poems from Bristol poets which was the outcome of that project. Just before lockdown we had recruited a number of new volunteers to provide guided tours around the same theme. We have been ensuring that those volunteers are still ‘on board’ and ready to pick up the tours, which have restarted in 2022. The work around the panels of the north transept window (removed in 2020) continues following the approval of the Chancellor to run a competition to provide new panels with the theme of “And who is my neighbour?”. This provides us with the opportunity to open up the Story of the Good Samaritan (told in the window) to a new perspective and to offer interpretation around Edward Colston and our wider involvement with the transatlantic trafficking of enslaved Africans. The shop has reopened with a dedicated volunteer and a new and improved stocking and selling system. We put in place the next phase of the project to re-light the interior of the church so that by early 2022 everywhere to the east of the chancel steps had been re-lit. We are yet to reopen the café, which closed during the pandemic when the Addition Recovery Agency (which ran the café as part of its service provision for recovering addicts) had to withdraw in order to cut costs.
## **A church that makes a difference in the parish and beyond**
Our work in the parish continues to be ground-breaking and hugely effective. We are known across the city (and beyond, apparently) for what we are doing and how we are making a difference to the lives of people who are often less represented in service provision statistics. Whilst these groups are often referred to as “hard to reach” our approach seeks to turn that on its head and ensure that what we offer is provided in ways that enable people to access it. For example, we now run driving theory for Somali women in English, lunchmaking groups, tuition for school students and drop-in sessions. Following the resignation of our Community Development Worker, we offered our Youth Community Development Worker the opportunity
to lead the department on a short-term basis under the title of Youth & Community Manager and appointed a Community Development Worker to replace the previous employee. Under the Community Asset Transfer scheme, we have taken a lease on a local shop unit (unused for years) to run as community hub where these activities take place. This has the benefit of being a ‘neutral’ space and thus more readily accessible for those for whom a Christian building may be a barrier. Beyond the parish, we have maintained food support for the Sisters of the Church, worked in partnership with Changes Bristol (a mental health charity) on TreeFest and continued to provide financial support and volunteers for the Bristol Churches Winter NightShelter.
## **Being a progressive and sustainable organisation**
PCC has continued to meet online during the year but meetings in person have now resumed. It continues to strive for a governance structure that provides clear strategic leadership for the church while allowing the staff team and key lay volunteers to exercise their roles with the experience and professionalism they bring. This remains a work in progress. As with the previous year, our major funders were able to commit to providing the agreed funding towards staff costs so that no redundancies have been necessary and the government’s furlough scheme was not used. We remain ever grateful to the excellent stewardship of the historic finances which enabled us to make those decisions. During the year we had some significant staff turnover within the administration team: the Operations Manager resigned due to the impact of Covid, the Community Development Worker left us for a new role and our Parish Administrator went on maternity leave. With admin staff working remotely for the whole year, extra pressure was felt by a number of the wider staff team. We were unable to recruit replacements for the Operations Manager and much of the work of that role fell to the vicar and other members of the senior leadership team. We continued to
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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 2021
examine our financial processes and made the decision to hire an ‘in-house’ bookkeeper and to end working with an external provider. However, we failed to make an appointment there as well. At the very end of the year we decided to use the services of an employment agency and both posts were filled within weeks. At the time of writing, the staff team is more robust now than it has been for years and we are very hopeful of bringing about the much-needed alignment of processes and procedures along with the nascent facilities building project (Project 450). One impact of Covid has been a significant reduction in the use of cash and we have contracted with Dona Donations to provide contactless donation points in church: first used on 18 Dec 2021, over £1,100 was donated by the end of 2021, much of it Gift Aided; not only is this a positive development in itself, but also it provides a very easy way of analysing the data. We continue to comply with health and safety, safeguarding and risk management obligations and employment practices and procedures. We have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission and 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’.
## **Financial Review**
## **Unrestricted income**
Total unrestricted income from donations and legacies amounted to £262,562, after excluding the £81,100 grant from the Temple Ecclesiastical Charity and grants totalling £329,385 from the St Mary Redcliffe Church Lands Charity (SMRCLC)). The comparable figure for 2020 was £158,681. The increase is largely accounted for by receipt of a major bequest (see below).
Planned giving increased by £14,000, and sundry donations fell back to a more normal level after the exceptional figure in 2020. With the gradual re-opening of the church we have seen an increase in income from visitors, whether donations or shop sales, and from occasional services.
Total unrestricted funds at 31 December 2021 were £306,191 (2020: £135,634).
## **Summary**
The story in 2021 was one of a gradual return to something like normality, a process which has continued into 2022. In financial terms this is best illustrated by the full programme of services which we were able to offer through Advent and Christmas, and our being able once again to welcome other organisations’ services at this time. As noted above, we are benefiting from the proceeds from the sale of a flat in the city bequeathed to the church by Alberdina Tiemens, a Dutch woman who lived in Bristol for a few months every year and worshipped at SMR; we received £50,000 in 2021, but as we knew the balance of £67,698 would be received early in 2022, this amount has been treated as received in 2021; the intention is to apply this money to develop our volunteer and “commercial” (sale of goods and services, events) capacity. Also, because we were carrying a number of staff vacancies during the year, our total salaries bill was slightly lower than the grants we received towards these costs; this is unlikely to be repeated in 2022, now that we have a full complement of staff. Our balance sheet is very strong; unrestricted (including “designated”) funds rose by £170,557 including a transfer in from the Tucker fund of £78,139, and endowment funds reduced by £62,003 mainly as a result of the transfer out from the Tucker fund; while “restricted” funds fell by £11,444; giving a net increase of £97,110. (“Restricted” funds are those which must, say by the terms of a bequest or conditions attached to a gift, be spent on a specified object; where funds are “designated” there is an expectation, **but no requirement** , that they will be devoted to a particular purpose.)
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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 2021
## **Reserves Policy**
It is the policy of the PCC to hold in free reserves enough liquidity to cover staff salaries and on-costs at 21% for three months. During the year, as outlined in last year’s TAR, the Tucker Fund (previously held by the Diocesan Board of Finance on behalf of the PCC) was transferred to the PCC and designated as part of the unrestricted reserves.
## **Information as of 31 December 2021**
|**Information as of 31 December 2021**||||
|---|---|---|---|
|Annual salary costs (projected),
including on-costs at 21%|£350,000|Free reserves
(excluding those held as
tangible fixed assets)|£305,248|
|Divided by4|£87,500|||
|||||
|**Reserves required**|**£87,500**|**Reserves to hand**|**£305,248**|
Reserves in hand at 31 December 2021 were higher than the minimum required under our reserves policy because of the Tiemens bequest. This bequest has been designated for ‘development’ and will be used over the next 2-3 years to fund two new posts to improve our income-generating capability.
## **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._
_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 2021, Permanent Endowment Funds were £82,935, of which £74,412 was invested in Church of England Investment Fund income shares and the balance was in the deposit bank account. Restricted Funds were £186,504, of which £17,358 was invested in COIF income units; the balance is accounted for by creditors and the current bank account. Unrestricted Funds were £306,191, of which £8,009 was invested in Church of England Investment funds: again, the balance is accounted for by creditors and current assets including the current bank 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 2021
## **PCC Giving Policy**
The giving policy of the PCC was last updated in 2020:
## **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).
Contrary to typical practice and PCC policy set out above; during the year no cash donations were paid out of PCC’s resources to other charities and missions. It remains PCC policy to make such donations and the PCC resolves to do so in 2022 onwards. 2021 presented significant challenges in financial and administerial capacity across the organisation. However, the subsequent appointment of in-house accounts and operational capabilities will ensure that PCC policy is accurately maintained and as an organisation we are in a significantly stronger position to support the ongoing activities and missions of other charities.
Additional cash donations of £6,496 were given to other charities and missions within the year. With contributions being distributed to Night shelter (£1,467), Harvest Collection (£607), Arm in Arm Campaign / Lent Appeal (£2,872), Treefest Charity (£1,550).
## **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. Our finances are more robust, thanks in part to a generous legacy and the continued support of our major funding partners (SMR Church Lands Charity, Canynges Society and Temple Ecclesiastical Charity), and we have plans for another stewardship campaign in 2022. On this basis, we conclude 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 2021
## **Plans for future periods**
## **Staff Development**
As we emerge from the worse impacts of the pandemic, we are keen to have a real focus on the development of our staff team. Since the beginning of 2022 we have taken on new staff and one has recently returned from maternity leave. We want to ensure that the offices are utilised most effectively, with a real sense of team working towards the shared vision. We are exploring the most appropriate balance of remote and hybrid working patterns to suit staff and organisational need. We will also continue to ensure that our employment policies and procedures are up to date, understood, and correctly used through staff training events.
## **Strategic Development**
Last year this document outlined The Redcliffe Plan as a strategic plan for the church. Further discussion revealed enough concerns for the implementation of the plan to be put on hold until a new Operations Manager was in post. It is our intention to make this one of the focussed pieces of work for 2022 so that by the end of the year we have a clear overarching understanding of our strategic mid- and long-term goals all of which will fall out from and feed into our four priority themes as outlined in the earlier section.
## **Project 450**
With the pause of 2020 behind us, P450 (our major facilities development project) is back on track and progressing through RIBA3. Whilst there is, inevitably, some frustration at this prolonged delay, the timing of its restart is good as it aligns with the start of our new Operations Manager who, among other things, is tasked with pulling together the strategic plan. When P450 started we kept it very distant from ‘business as usual’. As the project has gained momentum there have been moments when we have deliberately brought these two ‘sides’ closer together. As we now focus on RIBA3 and (we hope) achieving consent at planning stage, the time is right for ‘business as usual’ and P450 to be entirely overlaid: the strategic plan provides us with that opportunity.
## **Redcliffe Way**
The vicar continues to work with colleagues from the local community and the City Council to bring forward plans to develop Redcliffe Way. A competition is currently being held to appoint a firm to develop the first phase of the project. The implication for us is mainly in the need to ensure that what we build (P450) sits comfortably against what is built on Redcliffe Way.
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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 2021
## **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 (APCM), 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 our partnership with our major funding partners St Mary Redcliffe Church Lands Charity (211109), Canynges Society (242231) and Temple Ecclesiastical Charity (229907). We take great care to discuss how to handle conflicts of interest and make it a requirement for all trustees to be DBS checked and to sign a ‘Fit and Proper person’ form.
We have recently restructured our sub-committees and are aware that these new systems need to work better. On paper, the expectations in terms of responsibilities, accountabilities and reporting are clear; however, the lived experience needs refining so that decision-making and communication continue to improve. We have a Governance and Compliance sub-committee that is responsible for ensuring we adopt best practices 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, 12 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 Curate The Revd Simon Goodman Wardens (ex officio) Church Warden (Vice-Chair) Ms Belinda Phillipson Junior Warden Mr Richard Dyton Diocesan Synod Members (ex officio) to August 2024 Ms Auriol Britton Mrs Eleanor Vousden
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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 2021
Deanery Synod Members (ex officio) to APCM 2023 Mr Richard Dyton Mrs Juliet Hagan Mrs Eleanor Vousden Elected Lay Representatives to serve until 2022 Ms Roma Widger Mr John Viney Ms Alex Notay Ms Clare Satchwell Mr Paul Bassett to serve until 2023 Ms Liz Hewitt Mrs Esther Keller Mr Adam Lloyd Mrs Eleanor Vousden Mr Richard Wallace to serve until 2024 Ms Auriol Britton Mr Chris Duncan Mr Richard Dyton Mr Gerry Moorey Mr Samuel Williams to serve until 2025 Ms Roma Widger Mrs Alex Notay Mr Paul Bassett _Vacancy Vacancy_
## **Names of any other person who served as a charity trustee in the financial year in question**
Mr Kenneth Petrie Mr Hayden Shackell Mr Gary Musson Ms Mary Hall Prof John Steeds
## **Names and addresses of officers and advisers**
Operations Manager Mr James Rodliff (from May 2022)
Finance Officer Mrs Maria Holcombe (from March 2022)
Honorary Clergy The Revd Peter Dill The Revd Canon Stephen Spencer
Secretary to the PCC Vicar’s PA
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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 2021
|Treasurer to the PCC|Mr Temitayo Garrick (from May 2021)|
|---|---|
||Mr Richard Wallace (from September 2021)|
||Mr Samuel Williams (from January 2022)|
|Bankers|National Westminster Bank plc|
||Ashton Branch|
||Bristol|
|Independent|Mr Joshua Kingston BSc. ACA|
|Examiner|Burton Sweet Limited|
||The Clock Tower|
||5 Farleigh Court|
||Old Weston Road|
||Flax Bourton|
||BS48 1UR|
|Bookkeepers|Burnside (until May 2022)|
|and Accountants|61 Queen Square|
||Bristol|
||BS1 4JZ|
|Architect|Mr Marcus Chantrey|
||Benjamin & Beauchamp|
||The Borough Studios|
||The Borough|
||Wedmore|
||Somerset|
||BS28 4EB|
## **Related Parties**
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 their 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 related parties: 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 and for a wide range of staff to be employed to further the work of the church, and again this year, has provided further financial support to the PCC to weather these difficult economic times.
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The Parochial Church Council of the Ecclesiastical Parish of St Mary Redcliffe..
Charity No. 1134120 '. Trustees Report .' Year Ended 310ecember 2021
Statement of Trustees, Responsibilities
The trustees and member5 of the PCC are responsible for preparing the Trustees, Report and the financial
statements in 3ccord3nce 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 charitie5 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 trustee$ are
reqijired to..
select suitable accounting policies and then apply them consistentlv,.
observe the methods and principles in the Charities SORP,.
make judgments and accounting estimates that are reasonable and prudent,.
State whether applicable UK Accounting Standards have been followed, subjett to any material
departures disclosed and explained in the financial 5tatements,' and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable
accur3¢y at any time the financial position of the charity and enable them to ensure that the financial
statement5 comply with the Charitie5 Act 2011, the Charity IAccounts and Reports) Regulatlons 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
By order of the Trustees
/La-
IL
Slgned and dated
Signed and dated
Canon Daniel Tyndall
Vicar
Belinda Phillipson
Church Warden
The Parochial Church Councll of the Ecclesiastical Parish of St Mary Redcliffe..
Charity No. 1134120 .. Trustees Report '. Year Ended 31 December 2021
Independent examinerfs report to the trustees of St Mary Redcliffe PCC
I report lo the Iru51ees on my examination of the accounts of St Mary Redcliffe PCC (the Ch8rityl for the year
ended 31 December 2021.
Responslbilities and basls of report
As the charity Iruslees of the Charity you are responsible for the preparation of the accounts in accordance
th the requirements of the Charities Act 20111'lhe Acl'l.
I report In respect of my exarninalion 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 seetion 14515llbl of the Act.
Independent examlnerfs $tatemet)t
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 l am qualified lo undertake the examinalion because l 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 lo my attention in
connection with the examination giving me cause lo believe that in any material rèspect..
accounting records were not kept in respect of the Charty as required by section 130 of the Act., or
the accoun15 do not accord with those records," or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'lrue and fair view which is not a maller considered as part of
an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Jos
ingslon, ACA
Burton Sweet Limited Chartered Accountants
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1 UR
Dale.,
siql2012
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2021**
|||**Unrestricted**|**Restricted**|**Endowment**|**Total Funds**|Total Funds|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2021**|2020|
||**Note**|**£**|**£**|**£**|**£**|£|
|**Income from:**|||||||
|Donations and legacies|**2**|673,047|79,776|-|752,823|771,740|
|Charitable activities|**3**|14,462|-|-|14,462|6,686|
|Other trading activities|**4**|18,618|-|-|18,618|21,423|
|Investment Income|**5**|3,595|-|-|3,595|4,467|
|||---------------------|---------------------|---------------------|---------------------|---------------------|
|**Total income**||709,722|79,776|-|789,498|804,316|
|||---------------------|---------------------|---------------------|---------------------|---------------------|
|**Expenditure on:**|||||||
|_Raising funds_|||||||
|Fundraising and publicity|**6**|4,476|84|-|4,560|5,783|
|Fundraising Trading: costs of goods|||||||
|sold and other costs|**7**|4,299|1,350|-|5,649|3,711|
|_Charitable activities_|**8**|609,589|91,898|-|701,487|724,663|
|||---------------------|---------------------|---------------------|---------------------|---------------------|
|**Total expenditure**||618,364|93,332|-|711,696|734,157|
|||---------------------|---------------------|---------------------|---------------------|---------------------|
|**Gains / (Losses on investments**|||||||
|Realised|**12**|-|-|6,808|6,808|-|
|Unrealised|**12**|1,060|2,112|9,328|12,500|10,682|
|||---------------------|---------------------|---------------------|---------------------|---------------------|
|**Net income/(expenditure)**||92,418|(11,444)|16,136|97,110|80,841|
|Transfer between funds|**15**|78,139|-|(78,139)|-|-|
|||---------------------|---------------------|---------------------|---------------------|---------------------|
|**Total movement in funds**||170,557|(11,444)|(62,003)|97,110|80,841|
|||==========|==========|==========|==========|==========|
|**Reconciliation of funds:**|||||||
|Total funds at 1 January 2021|**15**|135,634|197,948|852,934|1,186,516|1,105,675|
|||---------------------|---------------------|---------------------|---------------------|---------------------|
|**Total funds carried forward**||306,191|186,504|790,931|1,283,626|1,186,516|
|||==========|==========|==========|==========|==========|
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
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL
PARISH OF ST MARY REDCLIFFE
BALANCE SHE
AS AT 31 DECEMBER 2021
2021
2020
Note
Flxed assets
Tangible asset5
Central Board of Finance investments
li
12
708,759
99,779
709.264
163,901
808,538
873.165
Curient assets
Oebtor5
Short term deposits
Cash at bank and in hand
13
86,358
57,309
355,498
94,900
55,649
198,856
499.165
349,405
Creditors.. Amounts falllng due wlthln one year
14
124,0771
136,0541
Net current assets
475,088
313,351
Net assets
1.283,626
1,186,516
Funds
Unrestricted-general fund5
Unrestricted- designated fund5
16
16
271.660
34,531
101.103
34,531
306,191
135,634
Restricted Funds
Endowment Funds
16
16
186.504
790,931
197,948
852,934
1,283,626
I,IB6.516
These financial statements were approved by the Parochial Church Council on
on its behalf bv,,
£Pr ia 21 and are signed
Rev Daniel Tyndall
Ms Belinda Phillip50n
The notes on pages 16 to 33 form part of these financial statements
141Page
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **STATEMENT OF CASH FLOWS**
## **YEAR ENDED 31 DECEMBER 2021**
|||||**2021**|2020|
|---|---|---|---|---|---|
||**Note**|||**£**|£|
|**Net cash used in operating activities**||||74,872|(76,313)|
|**Cash flows from investing activities**||||||
|Purchase of fixed assets||||-|(753)|
|Sale of investments||||83,430|-|
|||||----------------------|----------------------|
|**Net cash provided by (used in) investing activities**||||83,430|(753)|
|||||----------------------|----------------------|
|**Change in cash and cash equivalents in the year**||||158,302|(77,066)|
|Cash and cash equivalents at the beginning of the year||||254,505|331,571|
|||||----------------------|----------------------|
|**Cash and cash equivalents carried forward**||||412,807|254,505|
|||||==========|==========|
|**Reconciliation of net income / (expenditure) in funds to cash flow from**||||**2021**|2020|
|**operating activities**||||||
|||||**£**|£|
|Net income / (expenditure)||||97,110|80,841|
|Depreciation of fixed assets||||505|816|
|Gains on investments||||(19,308)|(10,682)|
|Decrease / (Increase) in debtors||||8,542|(61,398)|
|(Decrease) / Increase in creditors||||(11,977)|(85,890)|
|||||------------------|------------------|
|**Net cash provided by / (used in) operating activities**||||74,872|(76,313)|
|||||=========|=========|
|**Analysis of changes in net funds:**||**At**|**1**||**At 31**|
||**January**|**2021**||**Cash flows**|**December 2021**|
||||**£**|**£**|**£**|
|Short term deposits|55,649|||1,660|57,309|
|Cash at bank and in hand|198,856|||156,642|355,498|
||------------------|||------------------|------------------|
||254,505|||158,302|412,807|
||=========|||=========|=========|
The notes on pages 16 to 33 form part of these financial statement
**15 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
## **1. Accounting policies**
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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Church accounting regulations 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The 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.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
## **Accounting policies** _**(continued)**_
## _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.
## _Investments 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.
## **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.
**17 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
## **Accounting policies** _**(continued)**_
## **Debtors**
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**
Short-term deposits include cash held on deposit either with the Central Board of Finance or at the bank.
## **Cash at bank and In hand**
Cash at bank and in hand includes cash and cash held on deposit at the bank with a short maturity.
## **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.
|**2.**|**Donations and legacies**|**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2021**|2020|
||**Current year**|**£**|**£**|**£**|£|
||Planned Giving:|||||
||Direct giving|107,222|-|107,222|93,210|
||Income tax recovered (gift aid)|10,055|-|10,055|22,171|
||Collections (open plate) at all services|1,837|-|1,837|13,644|
||Sundry donations|20,750|5,238|25,988|33,265|
||Legacies|5,000|-|5,000|11,325|
||Tiemens Bequest|117,698|-|117,698|-|
||Mission and charities|-|6,328|6,328|1,560|
||Grant – Temple Ecclesiastical Charity|81,100|-|81,100|78,706|
||Staffing Grant – SMRCLC|232,662|-|232,662|238,443|
||Fabric and Operational Grants - SMRCLC|86,598|-|86,598|87,150|
||SMRCLC – contribution towards admin costs|6,375|-|6,375|11,276|
||SMRCLC – contribution for altar goods|3,750|-|3,750|5,206|
||SMRCLC – contribution towards publicity|-|-|-|4,320|
||Grant – Facilities Development project|-|8,220|8,220|51,690|
||Grants – Other|-|9,515|9,515|9,135|
||Choir - income|-|7,339|7,339|17,055|
||Choir - trip income|-|1,300|1,300|75|
||Choir - Music scholarships|-|-|-|13,900|
||Covid-19 Emergency|-|17,000|17,000|55,061|
||Redcliffe Care|-|17,460|17,460|-|
||Vicars Discretionary|-|-|-|1,000|
||Treefest|-|2,327|2,327|1,048|
||Night shelter|-|1,284|1,284|-|
||Youth worker|-|3,765|3,765|22,500|
|||------------------|------------------|------------------|------------------|
|||673,047|79,776|752,823|771,740|
|||=========|=========|=========|=========|
**18 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
||**Donations and legacies (continued)**||**Unrestricted**|**Restricted**|**Total Funds**|
|---|---|---|---|---|---|
||||**Funds**|**Funds**|**2020**|
||**Prior year**||**£**|**£**|**£**|
||Planned Giving:|||||
||Direct giving||93,210|-|93,210|
||Income tax recovered (gift aid)||22,171|-|22,171|
||Collections (open plate) at all services||13,644|-|13,644|
||Sundry donations||17,331|15,934|33,265|
||Legacies||11,325|-|11,325|
||Mission and charities||-|1,560|1,560|
||Grant – Temple Ecclesiastical Charity||78,706|-|78,706|
||Staffing Grant – SMRCLC||238,443|-|238,443|
||Fabric and Operational Grants - SMRCLC||87,150|-|87,150|
||SMRCLC – contribution towards admin costs||11,276|-|11,276|
||SMRCLC – contribution for altar goods||5,206|-|5,206|
||SMRCLC – contribution towards publicity||4,320|-|4,320|
||Grant – Facilities Development project||-|51,690|51,690|
||Grants – Other||-|9,135|9,135|
||Choir -income||-|17,055|17,055|
||Choir -trip income||-|75|75|
||Choir – Music scholarships||-|13,900|13,900|
||Covid-19 Emergency||-|55,061|55,061|
||Vicars Discretionary||1,000|-|1,000|
||Treefest||-|1,048|1,048|
||Youth worker||-|22,500|22,500|
||||------------------|------------------|------------------|
||||583,782|187,958|771,740|
||||=========|=========|=========|
|**3.**|**Charitable Activities**|**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|||**Funds**|**Funds**|**2021**|2020|
|||**£**|**£**|**£**|£|
||Fees for weddings, baptisms and funerals|14,462|-|14,462|6,869|
||Education events|-|-|-|(183)|
|||------------------|------------------|------------------|------------------|
|||14,462|-|14,462|6,686|
|||=========|=========|=========|=========|
||In the prior year, all funds were unrestricted|funds.||||
**19 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**4.**|**Other trading activities**|**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2021**|2020|
|||**£**|**£**|**£**|£|
||Shop sales|5,034|-|5,034|2,682|
||Special fund-raising events|2,605|-|2,605|-|
||Undercroft lettings and catering|-|-|-|1,450|
||Tours and search fees|292|-|292|(300)|
||Magazine postage|-|-|-|15|
||Vodafone mast licence|10,687|-|10,687|17,576|
|||------------------|------------------|------------------|------------------|
|||18,618|-|18,618|21,423|
|||=========|=========|=========|=========|
|**5.**|**Investment income**|**Unrestricted**|**Restricted**|**Total Funds**||
|||**Funds**|**Funds**|**2021**||
||**Current year**|**£**|**£**|**£**||
||Bank interest|26|-|26||
||Income on CBF investments / deposits|3,569|-|3,569||
|||------------------|------------------|------------------||
|||3,595|-|3,595||
|||=========|=========|=========||
|||**Unrestricted**|**Restricted**|**Total Funds**||
|||**Funds**|**Funds**|**2020**||
||**Prior year**|**£**|**£**|**£**||
||Bank interest|206|4|210||
||Income on CBF investments / deposits|4,257|-|4,257||
|||------------------|------------------|------------------||
|||4,463|4|4,467||
|||=========|=========|=========||
**20 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**6.**|**Fundraising and publicity**|**Unrestricted**|**Restricted**|**Total Funds**|
|---|---|---|---|---|
|||**Funds**|**Funds**|**2021**|
||**Current year**|**£**|**£**|**£**|
||Fundraising and publicity|4,476|-|4,476|
||Website development|-|84|84|
|||------------------|------------------|------------------|
|||4,476|84|4,560|
|||=========|=========|=========|
|||**Unrestricted**|**Restricted**|**Total Funds**|
|||**Funds**|**Funds**|**2020**|
||**Prior year**|**£**|**£**|**£**|
||Fundraising and publicity|3,902|-|3,902|
||Website development|-|1,210|1,210|
||Treefest|-|671|671|
|||------------------|------------------|------------------|
|||3,902|1,881|5,783|
|||=========|=========|=========|
|**7.**|**Fundraising trading: cost of goods sold and other costs**|
**Unrestricted**|**Restricted**|**Total Funds**|
|||**Funds**|**Funds**|**2021**|
||**Current year**|**£**|**£**|**£**|
||Special event costs|-|1,350|1,350|
||Shop purchases|3,731|-|3,731|
||Undercroft|568|-|568|
|||------------------|------------------|------------------|
|||4,299|1,350|5,649|
|||=========|=========|=========|
|||**Unrestricted**|**Restricted**|**Total Funds**|
|||**Funds**|**Funds**|**2020**|
||**Prior year**|**£**|**£**|**£**|
||Special event costs|252|1,200|1,452|
||Shop purchases|2,018|-|2,018|
||Undercroft|35|-|35|
||Other fundraising costs|206|-|206|
|||------------------|------------------|------------------|
|||2,511|1,200|3,711|
|||=========|=========|=========|
**21 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**8.**|**Charitable activities**||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|---|---|---|---|---|---|---|
||||**Funds**|**Funds**|**2021**|2020|
||**Current year**|**Note**|**£**|**£**|**£**|£|
||Staff costs|9|246,296|28,109|274,405|291,260|
||Home missions and grants to other charities||6,842|6,287|13,129|(52)|
||Development – Sunday school||-|525|525|458|
||Parish Christmas cards||49|-|49|532|
||Education officer expenses||-|-|-|17|
||Diocesan quota||120,000|-|120,000|120,000|
||Fees dispersed for weddings, baptisms and funerals||7,985|-|7,985|(2,487)|
||Altar expenses and candles||1,165|-|1,165|1,597|
||Flowers||-|-|-|220|
||Vicar’s discretionary fund||104|-|104|330|
||Sundries||3,322|-|3,322|6,226|
||Musicians||1,910|-|1,910|910|
||Health and safety||2,324|-|2,324|3,632|
||Radios||-|-|-|3,120|
||Vicar’s expenses||7,474|-|7,474|2,983|
||Community Youth Development worker costs||-|7,671|7,671|3,730|
||Community Development worker costs||211|-|211|202|
||Redcliffe Together||-|25,248|25,248|20,821|
||Facilities Project costs||-|9,377|9,377|58,991|
||Night shelter||-|126|126|578|
||Organ Bequest||-|-|-|18,000|
||Redcliffe Care||-|220|220|378|
||Choir expenses||-|3,577|3,577|5,791|
||Choir trip costs||-|1,408|1,408|-|
||Music scholarships||-|9,350|9,350|14,680|
||Office and IT expenses||17,216|-|17,216|18,195|
||Postage, printing and stationery||6,815|-|6,815|9,182|
||Telephone and internet||451|-|451|3,858|
||Parish office running expenses and cleaning||24,816|-|24,816|12,111|
||Repairs and Fabric works||110,980|-|110,980|70,785|
||Equipment repairs and new equipment||1,994|-|1,994|3,365|
||Copyright licence||230|-|230|836|
||Stewardship||975|-|975|384|
||Subscriptions and directories||697|-|697|576|
||Staff training and travel costs||707|-|707|1,105|
||Depreciation||505|-|505|816|
||Rent||-|-|-|(4,500)|
||Bookkeeping and management accounts||30,138|-|30,138|40,337|
||Payroll fees||-|-|-|2|
||Legal and professional fees||1,948|-|1,948|5,197|
||Database||2,549|-|2,549|2,523|
||Grant to SMRCLC toward Fabric repairs||-|-|-|(3,750)|
||Independent Examiner’s fees||2,244|-|2,244|1,404|
||Statutory accounts preparation||9,642|-|9,642|10,320|
||||------------------|------------------|------------------|------------------|
||||609,589|91,898|701,487|724,663|
||||=========|=========|=========|=========|
**22 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**8.**|**Charitable activities (continued)**||**Unrestricted**|**Restricted**|Total Funds|
|---|---|---|---|---|---|
|||**Note**|**Funds**|**Funds**|2020|
||**Prior year**||**£**|**£**|£|
||Staff costs|9|271,259|20,001|291,260|
||Home missions and grants to other charities||4,024|(4,076)|(52)|
||Development – Sunday school||-|458|458|
||Parish Christmas cards||532|-|532|
||Education officer expenses||-|17|17|
||Diocesan quota||120,000|-|120,000|
||Fees dispersed for weddings, baptisms and funerals||(2,487)|-|(2,487)|
||Altar expenses and candles||1,597|-|1,597|
||Flowers||220|-|220|
||Vicar’s discretionary fund||330|-|330|
||Sundries||6,226|-|6,226|
||Musicians||910|-|910|
||Health and safety||3,632|-|3,632|
||Radios||3,120|-|3,120|
||Vicar’s expenses||2,983|-|2,983|
||Community Youth Development worker costs||-|3,730|3,730|
||Community Development worker costs||202|-|202|
||Redcliffe Together||-|20,821|20,821|
||Facilities Project costs||-|58,991|58,991|
||Night shelter||-|578|578|
||Organ Bequest||18,000|-|18,000|
||Redcliffe Care||-|378|378|
||Choir expenses||-|5,791|5,791|
||Music scholarships||-|14,680|14,680|
||Office and IT expenses||18,195|-|18,195|
||Postage, printing and stationery||9,182|-|9,182|
||Telephone and internet||3,858|-|3,858|
||Parish office running expenses and cleaning||12,111|-|12,111|
||Repairs and Fabric works||70,785|-|70,785|
||Equipment repairs and new equipment||3,365|-|3,365|
||Copyright licence||836|-|836|
||Stewardship||384|-|384|
||Subscriptions and directories||576|-|576|
||Staff training and travel costs||1,105|-|1,105|
||Depreciation||816|-|816|
||Rent||(4,500)|-|(4,500)|
||Bookkeeping and management accounts||40,337|-|40,337|
||Payroll fees||2|-|2|
||Legal and professional fees||5,197|-|5,197|
||Database||2,523|-|2,523|
||Grant to SMRCLC toward Fabric repairs||(3,750)|-|(3,750)|
||Independent Examiner’s fees||1,404|-|1,404|
||Statutory accounts preparation||10,320|-|10,320|
||||-----------------|------------------|--------------------|
||||603,294|121,369|724,663|
||||=========|=========|=========|
**23 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**9.**|**Staff costs, key management personnel & transactions with Trustees**|**Unrestricted**|**Restricted**|**Total Funds**|
|---|---|---|---|---|
|||**Funds**|**Funds**|**2021**|
||**Current year**|**£**|**£**|**£**|
||Gross wages and salaries|212,192|28,109|240,301|
||Social security costs|14,083|-|14,083|
||Pension contributions|19,266|-|19,266|
||Other staff costs|755|-|755|
|||---------------------|---------------------|---------------------|
|||246,296|28,109|274,405|
|||==========|==========|==========|
No remuneration or expenses were paid to the members of the PCC (known as the charity Trustees) during the year (2020 - Nil). No significant expenses were waived.
||**Unrestricted**|**Restricted**|**Total Funds**|
|---|---|---|---|
||**Funds**|**Funds**|**2020**|
|**Prior year**|**£**|**£**|**£**|
|Gross wages and salaries|236,745|20,001|256,746|
|Social security costs|14,983|-|14,983|
|Pension contributions|18,938|-|18,938|
|Other staff costs|593|-|593|
||---------------------|---------------------|---------------------|
||271,259|20,001|291,260|
||==========|==========|==========|
The average annual headcount of persons employed by the PCC is below:
||**2021**|2020|
|---|---|---|
||**Number**|Number|
|Vergers|3|3|
|Clerical and support staff|15|15|
||---------------|---------------|
||18|18|
||=======|=======|
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**10.**|**Prior year fund comparatives**|||||
|---|---|---|---|---|---|
|||**Unrestricted**|
**Restricted**|**Endowment**|**Total Funds**|
|||**Funds**|
**Funds**|**Funds**|**2020**|
|||**£**|**£**|**£**|**£**|
||**Income from:**|||||
||Donations and legacies|583,782|187,958|-|771,740|
||Charitable activities|6,686|
-|-|6,686|
||Other trading activities|21,423|
-|-|21,423|
||Investment Income|4,463|
4|-|4,467|
|||---------------------|---------------------|---------------------|------------------|
||**Total income**|616,354|187,962|-|804,316|
|||---------------------|---------------------|---------------------|------------------|
||**Expenditure on:**|||||
||_Raising funds_|||||
||Fundraising and publicity|3,902|
1,881|-|5,783|
||Fundraising Trading: costs of goods|||||
||sold and other costs|2,511|
1,200|-|3,711|
||_Charitable activities_|603,294|
121,639|-|724,663|
|||---------------------|
---------------------|---------------------|------------------|
||**Total expenditure**|609,707|
124,450|-|734,157|
|||---------------------|
---------------------|---------------------|------------------|
||**Gains / (Losses on investments**|||||
||Unrealised|432|
1,137|9,113|10,682|
|||---------------------|
---------------------|---------------------|------------------|
||**Net income/(expenditure)**|7,079|
64,649|9,113|80,841|
||Transfer between funds|11,102|
(11,102)|-|-|
|||---------------------|
---------------------|---------------------|------------------|
||**Total movement in funds**|18,181|
53,547|9,113|80,841|
|||==========|
==========|=========|==========|
||**Reconciliation of funds:**|||||
||Total funds at 1 January 2021|117,453|
144,401|843,821|1,105,675|
|||---------------------|
---------------------|---------------------|---------------------|
||**Total funds carried forward**|135,634|
197,948|852,934|1,186,516|
|||==========|
==========|=========|==========|
**25 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**11.**|**Tangible fixed assets**||**Staging and**|**Office**||
|---|---|---|---|---|---|
|||**Organ**|
**Shop Fittings**|**Equipment**|**Total**|
|||**£**|
**£**|**£**|**£**|
||**Cost**|||||
||At 1 January 2021|707,996|
16,351|34,871|759.218|
|||---------------------|
---------------------|---------------------|---------------------|
||At 31 December 2021|707,996|
16,351|34,871|759,218|
||**Depreciation**|||||
||At 1 January 2021|-|16,351|33,603|49,954|
||Charge for the year|-|-|505|505|
|||---------------------|
---------------------|---------------------|---------------------|
||At 31 December 2021|-|16,351|34,108|50,459|
||**Net Book Value**|||||
||At 31 December 2021|707,996|
-|763|708,759|
|||=========|
==========|=========|==========|
||At 31 December 2020|707,996|
-|1,268|709,264|
|||=========|
==========|=========|==========|
|**12.**|**Investments with Central Board of Finance**|||**2021**|**2020**|
|||||**£**|**£**|
||3,177 shares in Church Funds Investment Fund (CFIF)|||||
||340 units in Charities Investment fund|||||
||Cost brought forward|||46,942|46,942|
||Disposals in year|||(24,322)|-|
|||||---------------------|---------------------|
||Cost carried forward|||22,620|46,942|
|||||==========|==========|
||Market Value as at 1 January|||163,901|153,219|
||Disposal Proceeds in year|||(83,430)|-|
||Unrealised gain/(loss) on revaluation|||12,500|10,682|
||Realised gain/(loss)|||6,808|-|
|||||---------------------|---------------------|
||Market value as at 31 December|||99,779|163,901|
|||||==========|==========|
**26 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**13.**|**Debtors**|**2021**|2020|
|---|---|---|---|
|||**£**|£|
||Accrued debtors|
67,698|
-|
||Other debtors|18,660|94,900|
|||---------------------|---------------------|
|||86,358|94,900|
|||==========|==========|
|**14.**|**Creditors: amounts falling due within one year**|**2021**|2021|
|||**£**|£|
||Other creditors|
24,077|
36,054|
|||-----------------|-----------------|
|||24,077|36,054|
|||=========|=========|
**27 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**15.**|**Movement in funds**|**At**||||**Gains /**|**At**|
|---|---|---|---|---|---|---|---|
|||**1 January**||||**(losses) on**|**31 December**|
|||**2021**|**Income**|**Expenditure**|**Transfers**|**Investments**|**2021**|
||**Current year**|**£**|**£**|**£**|**£**|**£**|**£**|
||Unrestricted funds|||||||
||- General|101,103|709,722|(618,364)|78,139|1,060|271,660|
||- Designated – Churchwardens|||||||
||subscription|22,910|-|-|-|-|22,910|
||- Designated – Staff Accommodation|
3,000|-|-|-|-|3,000|
||- Designated - Music|8,621|-|-|-|-|8,621|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
|||135,634|709,722|(618,364)|78,139|1,060|306,191|
|||==========|==========|==========|==========|==========|==========|
||Restricted funds|||||||
||**-**Redcliffe Care|19,626|17,460|(220)|-|-|36,866|
||**-**Guild of Servers fund|156|-|-|-|-|156|
||**-**Bedminster Churchlands|15,246|-|-|-|2,112|17,358|
||**-**Williams Bequest – Sunday school|4,844|-|(525)|-|-|4,319|
||**-**Sundry donations|15,934|5,238|-|-|-|21,172|
||**-**Choir account|17,489|7,339|(12,927)|-|-|11,901|
||**-**Choir trip account|5,779|1,300|(1,408)|-|-|5,671|
||**-**Special appeals and collections for|||||||
||other organisations and charities|20,833|8,655|(7,721)|-|-|21,767|
||**-**Facilities Development project|5,961|8,220|(9,377)|-|-|4,804|
||**-**Night shelter|545|1,284|(126)|-|-|1,703|
||**-**Youth worker|36,975|3,765|(35,780)|-|-|4,960|
||**-**Faithspace|11,185|-|-|-|-|11,185|
||**-**COVID-19 Emergency|34,240|17,000|(25,248)|-|-|25,992|
||**-**Other grants|9,135|9,515|-|-|-|18,650|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
|||197,948|79,776|(93,332)|-|2,112|186,504|
||Endowment funds|||||||
||- Permanent endowment|144,938|-|-|(78,139)|16,136|82,935|
||- Expendable endowment|707,996|-|-|-|-|707,996|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
|||852,934|-|-|(78,139)|16,136|790,931|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
||**Total funds**|1,186,516|789,498|(711,696)|-|19,308|1,238,626|
|||==========|==========|==========|==========|==========|==========|
**28 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**15.**|**Movement in Funds (continued)**|**At**||||**Gains /**|**At**|
|---|---|---|---|---|---|---|---|
|||**1 January**||||**(losses) on**|**31 December**|
|||**2020**|**Income**|**Expenditure**|**Transfers**|**Investments**|**2020**|
||**Prior year**|£|£|£|£|£|£|
||Unrestricted funds|||||||
||- General|44,543|616,354|(607,882)|47,656|432|101,103|
||- Designated – Churchwardens|||||||
||subscriptions|72,910|-|-|(50,000)|-|22,910|
||- Designated – Staff Accommodation|
-|-|-|3,000|-|3,000|
||- Designated – Music|-|-|-|8,621|-|8,621|
||- Designated – Emergency Disaster|-|-|(1,500)|1,500|-|-|
||- Designated – Childrens Corner|-|-|(27)|27|-|-|
||- Designated –Social Committee|-|-|(298)|298|-|-|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
|||117,453|616,354|(609,707)|11,102|432|135,634|
|||==========|==========|==========|==========|==========|==========|
||Restricted funds|||||||
||- Redcliffe Care|6,353|4|(378)|13,647|-|19,626|
||- Emergency Disaster Appeals|1,500|-|-|(1,500)|-|-|
||- Childrens Corner|27|-|-|(27)|-|-|
||- Social Committee|298|-|-|(298)|-|-|
||- Guild of Servers fund|156|-|-|-|-|156|
||- Bedminster Churchlands|14,109|-|-|-|1,137|15,246|
||- Williams Bequest – Sunday school|5,302|-|(458)|-|-|4,484|
||- Sundry donations|-|15,934|-|-|-|15,934|
||- Choir account|6,225|17,055|(5,791)|-|-|17,489|
||- Choir trip account|5,704|75|-|-|-|5,779|
||- Music Scholarships|8,189|13,900|(14,680)|(7,409)|-|-|
||- Conductor of Occasional Choir|1,212|-|-|(1,212)|-|-|
||**-**Special appeals and collections for|||||||
||other organisations and charities|29,667|2,608|2,205|(13,647)|-|20,833|
||**-**Facilities Development project|13,262|51,690|(58,991)|-|-|5,961|
||**-**Night shelter|1,123|-|(578)|-|-|545|
||**-**Youth worker|38,206|22,500|(23,731)|-|-|36,975|
||- Education Officer|(177)|-|(17)|194|-|-|
||- John Gillman Bequest|535|-|(1210)|675|-|-|
||- Jenkins fund (flower fund)|25|-|-|(25)|-|-|
||- UWE Bristol Internship|1,500|-|-|(1,500)|-|-|
||- Faithspace|11,185|-|-|-|-|11,185|
||**-**COVID-19 Emergency|-|55,061|(20,821)|-|-|34,240|
||**-**Other grants|-|9,135|-|-|-|9,135|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
|||144,401|187,962|(124,450)|(11,102)|11,137|197,948|
||Endowment funds|||||||
||- Permanent endowment|135,825|-|-|-|9,113|144,938|
||- Expendable endowment|707,996|-|-|-|-|707,996|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
|||843,821|-|-|-|9,113|852,934|
|||---------------------|---------------------|---------------------|--------------------|---------------------|---------------------|
||**Total funds**|1,105,675|804,316|(734,157)|-|10,682|1,186,516|
|||==========|==========|==========|==========|==========|==========|
**29 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
## **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 Accommodation**
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.
## **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.
## **Social Committee**
This fund represents the use of surpluses from events the committee organises to replenish and improve catering equipment and facilities. The fund has been exhausted in 2020 in funding costs to support social activities and support for our congregation during the pandemic.
## **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.
## **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.
**30 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
## **Restricted funds (continued)**
## **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 beneficiaries.
## **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 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.
**31 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
## **Restricted funds (continued)**
## **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.
## **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 3,086 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.
A transfer of £78,139 from permanent endowments to unrestricted reserves was made in 2021, reclassifying funds in line with the funds original structure.
## **Expendable endowment**
This fund represents the carrying value of the church organ which was restored following the receipt of capital gifts.
**32 |** P a g e
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL**
## **PARISH OF ST MARY REDCLIFFE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2021**
|**16.**|**Analysis of net assets between funds**|**Fixed Assets**|**Investments**|**Current**|**Current**|**Total**|
|---|---|---|---|---|---|---|
|||||**assets**|**liabilities**||
||**Current year**|**£**|**£**|**£**|**£**|**£**|
||Unrestricted funds - general|763|8,009|286,965|(24,077)|271,660|
||Unrestricted funds - designated|-|-|34,531|-|34,531|
||Restricted funds|-|17,358|169,146|-|186,504|
||Endowment funds|707,996|74,412|8,523|-|790,931|
|||---------------------|---------------------|---------------------|--------------------|---------------------|
|||708,759|99,779|499,165|(24,077)|1,283,626|
|||==========|==========|==========|==========|==========|
|||**Fixed Assets**|**Investments**|**Current**|**Current**|**Total**|
|||||**assets**|**liabilities**||
||**Prior year**|**£**|**£**|**£**|**£**|**£**|
||Unrestricted funds - general|1,268|6,949|128,629|(35,743)|101,103|
||Unrestricted funds - designated|-|-|34,531|-|34,531|
||Restricted funds|-|15,246|183,013|(311)|197,948|
||Endowment funds|707,996|141,706|3,232|-|852,934|
|||---------------------|---------------------|---------------------|--------------------|---------------------|
|||709,264|163,901|349,405|(36,054)|1,186,516|
|||==========|==========|==========|==========|==========|
## **17. RELATED PARTY TRANSACTIONS**
There were no related party transactions in the year apart from those already disclosed in the accounts.
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