Christ Church Cockfosters Registered Charity No.: 1134144
Annual Report and Financial Statements of the Parochial Church Council
For the year ended 31 December 2021
Christ Church Cockfosters, 1b Chalk Lane, Cockfosters, EN4 9JQ 020 3137 5711 www.cockfosters.church
Banks:
Barclays Bank PLC Whetstone and Finchley Group 1250 High Road Whetstone London N20 0PB
CAF Bank Ltd PO Box 289 West Malling ME19 4TA
Auditors:
West Wake Price LLP The Mezzanine Floor 68 Cornhill London EC3V 3QX
Vicar & PCC Chair
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2021 Annual Report for the Parochial Church Council of Christ Church Cockfosters
The members of the PCC present their annual report and financial statement of the PCC for the year ended 31 December 2021. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 together with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Statement of Recommended Practice, Accounting and Reporting by Charities [SORP (FRS 102)].
AIM & PURPOSES
Christ Church PCC has the responsibility of co-operating with the Incumbent, Revd Jon Tuckwell, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Informal liaison arrangements exist with the Conventional District of St Paul’s, Hadley Wood, which forms part of the parish but has its own minister and Church Council and also with Grace Church Highlands which is a Charitable Incorporated Organisation.
STRUCTURE, GOVERNANCE & MANAGEMENT
The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure.
Members of the PCC are either ex-officio, co-opted or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. Three members are elected each year for a three-year term of office. At the first meeting of the new PCC an induction session takes place when membership, responsibilities and functions of the PCC are explained.
During 2021 the following served as members of the PCC:
| Clergy: | Revd Chris Edwards (from 6thSeptember 2021) |
|---|---|
| Revd Jon Featherstone (until 31stJanuary 2022) | |
| Revd James Knowles (until 31stAugust 2021) | |
| Revd Jon Tuckwell (Chair) | |
| Churchwardens: | Nicki Hooke |
| Matt Lanstone (Vice Chair) | |
| Elected Members: | Seun Adekunbi |
| Chris Bird (from APCM 2021) | |
| Janet Houghton | |
| Chanelle Leher | |
| Kalpesh Patel (until APCM 2021) | |
| James Quinby | |
| Mark Ratcliff (until APCM 2021) | |
| Mike Slevin (Treasurer) | |
| Ruth Taylor (from APCM 2021) | |
| Vava Tsioupra | |
| Erica Ward | |
| Deanery Synod: | Margarita Barr-Hamilton (also on Diocesan Synod) |
| Glenda Hunter | |
| Tom Inman | |
| Barbara Nagy |
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Chitra Robson Susan Watford
The PCC members are, with the Vicar, responsible for making decisions on matters of general concern and importance to the Parish including deciding on how the funds of the PCC are to be spent.
COMMITTEES / ACTION GROUPS
The PCC operates through a number of Action Groups which meet between full meetings of the PCC:
-
The Finance & Standing Committee has consisted of Vicar, Churchwardens, Treasurer, Associate Vicars, and a representative elected by PCC. It is the only committee required by canon law. It has the power to transact the business of the PCC between its meeting, subject to any directions given by the Council.
-
Additionally, the following non-statutory groups met during the year (reports available separately):
oFabric Group; -
Mission Action Group.
SAFEGUARDING
The PCC has complied with its Safeguarding responsibilities under section 5 of the Safeguarding and Clergy Discipline Measure 2016. The PCC acknowledges that it must pay 'due regard' to safeguarding guidance issued by the House of Bishops (including both policy and practice guidance). The Church Safeguarding Officer was Mr Tom INMAN; and the Children’s Champion was Mrs Karen HOSKER until April 2021 then replaced by Mrs Beccy RATCLIFF as Children’s and Vulnerable Persons’ Champion.
CHURCH ATTENDANCE
It was reported at the 2021 APCM that the number on the Christ Church Electoral Roll was 315. Of these 57 were resident in the parish.
Owing to Covid, the standard figures on the annual report would have been skewed for most of 2020. Below is a selection of attendance statistics that have been supplied to the CoE, on our yearly returns and that may be of more use.
People in our Worshipping Community during 2021 Total: 492(1500 on line) Christmas Eve & Christmas Day attendance in person: 266 Average weekly attendance in October 2021 in person: 269 (220 Adults, 49 Children)
REVIEW OF THE YEAR
As I’ve stopped to look back over the past year, I’ve been amazed by all that God has done in our church family. It has been an extraordinary year of change and getting to know each other. For many this will be your first Annual Church Meeting because you are new to church. Almost 100 names have been added to our church database since the last APCM and it has been a great joy getting to know those of you who have joined us.
During my Big Visit meetings, I’ve heard the same comment again and again. “We love the Cross-over time”. It’s certainly been one of my highlights of the year. The variety of topics, led by a wide range of
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people, have helped us see how the good news of Jesus impacts every area of our lives. Moving our Explore Group to a Sunday has made it easier for people to explore the Christian faith whilst the Children’s groups are running.
We know there is still more learning to do, and adjustments needed, but it has been so good to worship together, Sunday by Sunday, with the whole church family present in the building. One parent of a young child spoke to me about how their child felt part of the church in a brand new way – not just an add-on but part of the family. This has felt especially pertinent as we have studied 1 Corinthians together and thought hard about what it means to be ‘church’ where there is one body but many parts.
As ever in church life, there are joys and sorrows. We have said sad farewells to loved members of the church who have been promoted to glory, moved away, or moved to other churches. The sadness reminds us of how deep our connections are with each other in church life. The Church Council also made the hard decision to close the Preschool from this summer – a decision which came after much prayer and discussion.
There is so much more we could say and I’m nervous of trying to list everything because inevitably I will miss things so here is just a sample:
-
We said goodbye to two Associate Vicars and welcomed Chris Edwards and his family
-
The House Café was refurbished, and the Café Ministry Team have enjoyed welcoming many new
-
guests to the café
-
We launched The Big Visit – visiting every household in the church family
-
Both youth groups now meet twice a week with the weekly Rooted (14-18s) Bible study night
-
being a particular encouragement
-
Our Prayer Ministry team has been launched to support the ministry in the evening service
-
Small groups have become ‘Life Groups’ with new groups launching creating space for newcomers
-
Many of the daytime Life Groups have joined the Equip Course for the year to be trained and
-
equipped to serve in the church family
• We’ve launched a daytime Explore Group on a Wednesday morning to allow more to hear about Jesus
-
And we partnered with other churches and Christians Against Poverty to launch the Enfield
-
Churches Debt Centre
I hope you feel excited as you read that list. So many members of our church family using gifts God has given to them, serving together as church - the body of Jesus here in Cockfosters. We are learning to love each other and striving to share Jesus’ love with the communities around us. Thank you for the part you are playing as we grow our teams across all our ministries.
FINANCE
Our original budget for 2021 was to make use of some of our General Fund reserves of £64,000 to allow us to continue investing in our ministry activities and acknowledging that there was a continued impact from Covid. This decision was supported by healthy General Fund reserves at the end of 2020 of £270,320, comfortably within our reserve policy.
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With the continued impact of Covid and a higher number of ministry staff transitioning during 2021, this has seen an overall use of our General Fund reserves amounting to £94,417. We are truly blessed by the incredible generosity of God, and the Bible reminds us that financial giving is a key part of belonging to, and helping serve the Church Family. It provides for our ministry staff and allows them to wholly devote themselves to God and teaching the Church family, and we are thankful that giving income has not fallen during the year. Expenditure was broadly as planned except for the higher salary and relocation costs for our ministry staff.
Our General Fund reserves finished the year at £175,903, which remains comfortably within our reserves policy. As ever, we remain thankful to God for blessing us with financial resources and pray that we will continue to be faithful and generous stewards.
RISK MANAGEMENT
During the year we continued a process of identifying the major risks that impact on the work of Christ Church. An analysis of the existing procedures and controls in place to deal with the risks will be continually reviewed by the PCC. Action to manage the risks will be implemented as necessary.
The Church’s Safeguarding Policy is regularly kept up to date. Tom Inman is our Safeguarding Officer and maintains our safeguarding practices. All youth and children’s leaders are either DBS (Disclosure and Barring Service) checked and trained in safeguarding, or are undergoing the training and awaiting the outcome of DBS checks.
RESERVES POLICY
It is the policy of the church to hold in reserves the equivalent of two months’ general running costs and an additional month’s salary costs. The PCC considers that our present reserves are sufficient to meet these requirements.
MEMBERS’ RESPONSBILITIES IN RELATION TO FINANCIAL STATEMENTS
The members of the PCC are responsible for preparing a PCC annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the PCC members to prepare financial statements for each year which give a true and fair view of the state of affairs of the PCC and of the incoming resources and application of resources, of the PCC for that period. In preparing the financial statements, the members are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the PCC will continue in business.
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The members are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the financial statements comply with the Church Accounting Regulations 2006 and Part VIII of the Charities Act 2011. They are also responsible for safeguarding the assets of the PCC and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the PCC members on Thursday 14[th] April 2022 and signed on their behalf by:
Revd Jon Tuckwell Chair
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Trent Parochial Church Council
Christ Church Cockfosters
Financial Statements - Year to 31 December 2021
INDEX
| Balance Sheet Statement of Financial Activities Statement of Cash Flows Notes to Financial Statements Independent Auditors’ Report CCT Balance Sheet & Statement |
Page 7 A 8 9 10-14 15-17 18-19 |
|---|---|
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I 'i'fl ro
| 2020 TOTAL | 756,141 | 31,407 | 759 | 4,427 | 78,829 | £871,563 | 109,371 | 679,993 | 37,100 | £826,464 | 45,099 | 394 | 45,493 | - | - | - | (31,722) | (25,600) | 21,066 | £9,237 | - | 4,318,057 | £4,327,294 | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | TOTAL | 444,709 | 29,942 | 338 | 9,507 | 83,886 | £568,382 | 116,673 | 623,999 | 35,430 | £776,102 | (207,720) | (768) | (208,488) | - | - | - | - | - | 256,511 | £48,023 | - | 4,327,295 | £4,375,318 | |||||||||||||||||
| Restricted and | Unrestricted | Designated Funds | Property Fund | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 256,511 | £256,511 | - | 3,880,455 | £4,136,966 | |||||||||||||||||
| Buildings | Fund | 3,338 | - | 2 | - | - | £3,340 | - | 3,542 | - | £3,542 | (202) | - | (202) | - | - | - | (11,317) | - | £(11,519) | - | 23,595 | £12,076 | ||||||||||||||||||
| Unrestricted Designated Funds | Support Fund Pre School |
2,075 - |
- 4,666 |
- 3 |
- - |
- - |
£2,075 £4,669 |
- 3,803 |
4,400 - |
- - |
£4,400 £3,803 |
(2,325) 866 |
- - |
(2,325) 866 |
- - |
- - |
- | - - |
£(2,325) £866 |
- - |
12,268 20,000 |
£9,943 £20,866 |
|||||||||||||||||||
| The House | Café | - | 19,936 | - | - | - | £19,936 | 28,984 | - | - | £28,984 | (9,048) | - | (9,048) | - | - | - | £(9,048) | - | 10,872 | £1,824 | ||||||||||||||||||||
| CHRIST CHURCH COCKFOSTERS | STATEMENT OF FINANCIAL ACTIVITIES | for year ended 31st December 2021 | Restricted Funds | Burrowes/ | Hutchins | Fordham Road Mission Fund Pre School Fund |
1,250 2,269 - - |
- - - - |
- - - 303 |
- - - - |
- - 83,886 - |
£1,250 £2,269 £83,886 £303 |
- - 83,886 - |
105,015 - - - |
- 35,430 - - |
£105,015 £35,430 £83,886 - |
(103,765) (33,161) - 303 |
- - - (768) |
(103,765) (33,161) - (465) |
- - - |
- - - |
33,161 - - |
11,317 | - - - |
(92,448) - - £(465) |
- - - - |
92,448 - - 17,337 |
- - - £16,872 |
|||||||||||||
| Ministry | Trainees | 4,798 | - | - | - | - | £4,798 | - | 10,426 | - | £10,426 | (5,628) | - | (5,628) | - | - | - | 6,496 | - | £868 | - | - | £868 | ||||||||||||||||||
| Unrestricted | General Fund | 430,979 | 5,340 | 30 | 9,507 | - | £445,856 | - | 500,616 | - | £500,616 | (54,760) | - | (54,760) | - | - | (33,161) | - | - | (6,496) | - | - | £(94,417) | 270,320 | £175,903 | ||||||||||||||||
| Notes | 1(a) | 1(b) | 1(c) | 1(d) | 1 (e) | 2(a) | 2(b) | 5 | 7 | 8 | |||||||||||||||||||||||||||||||
| INCOME | Voluntary income | Activities for generating funds | Income from investments: | Church activities | Other incoming resources | TOTAL INCOME | EXPENDITURE | Cost of raising funds | Expenditure on Church activities | Other expenditure: | Mission grants | TOTAL EXPENDITURE | NET INCOME/EXPENDITURE BEFORE INVESTMENT GAINS | Gain/(loss) on investment | NET INCOME/EXPENDITURE | Transfer between funds: | Pre School unrestricted designated to General fund unrestricted | The House unrestricted designated to General fund unrestricted | General unrestricted to Mission restricted | Bldgs Fnd unrestricted des to Bldgs Fun res & General fund unrestricted | Redecoration costs 1 Chalk Lane | General unrestricted to Ministry Trainee restricted | Staff Redundancy Costs | Other recognised gains/(losses) | Gain/(loss) on revaluation of fixed assets | NET MOVEMENTS IN FUNDS | Reconciliation of funds | Prior year adjustment of misposted transaction | Total funds brought forward | TOTAL FUNDS CARRIED FORWARD |
CHRIST CHURCH COCKFOSTERS STATEMENT OF CASH FLOWS for the year ended 31 December 2021
| Cash flows from operating activities: Net cash provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Note 1: Reconciliation of net income/(expenditure) to net cash flow from operating activities Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Losses/(gains) on investments Dividends, interest and rents from investments Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by operating activities Note 2: Analysis of cash and cash equivalents Cash in hand Notice deposits (less than 3 months) Total cash and cash equivalents |
Total Funds Total Funds Note 2021 2020 £ £ (218,781) (65,775) 1 338 759 338 759 (218,443) (65,016) 387,031 452,047 168,588 387,031 2 Current Year Prior Year £ £ (208,488) (11,828) 768 (394) (338) (759) 8,439 (53,964) (19,162) 1,170 (218,781) (65,775) Current Year Prior Year £ £ 33 58 168,555 386,973 168,588 387,031 |
|---|---|
Cash in hand figure to be established from TB and Notice deposits figure reduced by same amount.
- 9 -
| 2020 TOTAL | 547,116 | 136,849 | 15,450 | 55,392 | - | 325 | £755,132 | 808 | 202 | - | - | - | - | £1,010 | £756,142 | 14,322 | 3,930 | 13,155 | £31,407 | 378 | 381 | £759 | £4,427 | 78,829 | - | £78,829 | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | TOTAL | 299,065 | 74,765 | 13,974 | 44,373 | 10,000 | 263 | £442,440 | 1,694 | 424 | - | - | 151 | - | £2,269 | £444,709 | 4,666 | 5,340 | 19,936 | £29,942 | 303 | 35 | £338 | £9,507 | 83,886 | - | £83,886 | |||||||||||||
| Restricted and | unrestricted | Designated Funds | Property Fund | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |||||||||||
| Buildings Fund | 2,670 | 668 | - | - | - | - | £3,338 | - | - | - | - | - | - | - | £3,338 | - | - | - | - | - | 2 | £2 | - | - | - | - | ||||||||||||||
| Unrestricted Designated Funds | Support Fund Pre School |
1,500 - |
375 - |
- - |
200 - |
- - |
- - |
2,075 - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
£2,075 - |
- 4,666 |
- - |
- - |
- £4,666 |
- - |
- 3 |
- £3 |
- - |
- - |
- - |
- - |
|||||||||||||
| The House | Café | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 19,936 | £19,936 | - | - | - | - | - | - | - | |||||||||||||
| CHRIST CHURCH COCKFOSTERS | NOTES TO THE FINANCIAL STATEMENTS | for year ended 31st December 2021 | Restricted Funds | Burrowes/ | Fordham Road Mission Fund Pre School Hutchins Fund |
1,000 - - - |
250 - - - |
- - - - |
- - - - |
- - - - |
- - - - |
1,250 - - - |
- 1,694 - - |
- 424 - - |
- - - - |
- - - - |
- 151 - - |
- - - - |
- £2,269 - - |
£1,250 £2,269 - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - 303 |
- - - |
- - - £303 |
- - - - |
- - 83,886 - |
- - - |
- - £83,886 - |
|||||||||
| Ministry | Trainees | 3,470 | 868 | - | 460 | - | - | 4,798 | - | - | - | - | - | - | - | £4,798 | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||
| Unrestricted | General Fund | 290,425 | 72,604 | 13,974 | 43,713 | 10,000 | 263 | £430,979 | - | - | - | - | - | - | - | £430,979 | - | 5,340 | - | £5,340 | - | 30 | £30 | £9,507 | - | - | - | |||||||||||||
| INCOME | Voluntary income | Donations and legacies | Gift aid donations | Income tax recoverable | Donations via charitable trusts | Other giving | Legacy | Misc | Donations for Mission | Gift aid donations | Income tax recoverable | Gift Aid Fundraising events | Income tax recoverable | Other giving | Other fund raising giving | Total voluntary income | Activities for generating funds | Pre-School fees (see note 2(a) for expenses) | Church House lettings | The House Café | Income from investments | Interest from fixed securities | Interest from interest bearing bank accounts | Church Activities | Fees for weddings, funerals searches etc | Other incoming resources | Local authority grants | HMRC tax repayment supplement - prior year GA donation | ||||||||||||
| 1. | 1(a) | 1(b) | 1(c) | 1 (d) | 1 (e) |
| 2020 TOTAL | 80,697 | 28,674 | £109,371 | 85,200 | 41,683 | 41,056 | 5,899 | 5,576 | 5,341 | 4,721 | 9,840 | 31,371 | 2,437 | 18,508 | 39,013 | 270,376 | 4,231 | 82,058 | 2,259 | 14,030 | 500 | 1,629 | 6,026 | 1,739 | £673,493 | 6,000 | 500 | £6,500 | £679,993 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | TOTAL | 87,688 | 28,984 | £116,673 | 85,200 | 42,078 | 49,132 | 3,543 | 17,918 | 7,864 | 5,863 | 12,868 | 18,193 | 2,265 | 13,775 | 31,987 | 191,229 | 12,011 | 10,426 | 85,641 | 868 | 1,741 | 4,400 | 5,678 | 10,311 | 4,508 | £617,499 | 6,000 | 500 | £6,500 | £623,999 | ||||||||||
| Restricted and | unrestricted | Designated Funds | Property Fund | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||
| Buildings Fund | - | - | - | - | - | - | - | 3,542 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | £3,542 | - | - | - | £3,542 | |||||||||||||
| Unrestricted Designated Funds | Support Fund Pre School |
- 3,803 |
- - |
- £3,803 |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
- - |
4,400 | - - |
- - |
- - |
4,400 - |
- - |
- | - - |
4,400 - |
|||||||||||
| The House | Café | 28,984 | £28,984 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||
| CHRIST CHURCH COCKFOSTERS | NOTES TO THE FINANCIAL STATEMENTS | for year ended 31st December 2021 | Restricted Funds | Burrowes/ | Fordham Road Mission Fund Pre School Hutchins Fund |
- - 83,886 - |
- - - - |
- - £83,886 - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
105,015 - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - - |
- - - |
- - - - |
105,015 - - - |
- - - - |
- - - - |
- - - - |
105,015 - - - |
||||||||
| Ministry | Trainees | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10,426 | - | - | - | - | - | - | 10,426 | - | - | - | 10,426 | ||||||||||||
| Unrestricted | General Fund | - | - | - | 85,200 | 42,078 | 49,132 | 3,543 | 14,376 | 7,864 | 5,863 | 12,868 | 18,193 | 2,265 | 13,775 | 31,987 | 86,214 | 12,011 | - | 85,641 | 868 | 1,741 | - | 5,678 | 10,311 | 4,508 | £494,116 | 6,000 | 500 | £6,500 | £500,616 | ||||||||||
| EXPENDITURE | Cost of raising funds | Pre-School (see note 1(b) for income) | The House Café | Expenditure on Church activities | Ministry: Diocesan Common Fund | Curate and expenses | Associate Minister and expenses | Clergy accommodation costs | Church maintenance and repairs | Church utilities and sundries | Church insurance | Church House maintenance and repairs | Church House utilities and sundries | Church House insurance | Caretaker's salary & house expenses | Music director's salary & music expenses | Youth/children ministers' salaries & youth activities/home groups | Pastoral Associate Families | Ministry trainee expenses | Operations Manager, Communications Officer | Financial Administrator, Secretary & office expenses | IT Costs including maintenance | AV Costs | Support Grants | Training | Evangelism & Miscellaneous | Fees (see note 1(c) for income) | Governance costs | Audit fee | APGM - printing of annual report | Total expenditure on Church activities | ||||||||||
| 2. | 2(a) | 2(b) |
CHRIST CHURCH COCKFOSTERS NOTES TO THE FINANCIAL STATEMENTS for year ended 31 December 2021
3. STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL
| STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL Salaries Redundancy Costs Social security costs Pension fund |
2021 253,489 - 17,317 4,996 |
2020 204,157 25,600 12,444 4,486 |
| £275,802 | £246,687 |
The average number of employees during the year was 15 (2020: 13).
The Parish considers Jon Tuckwell (Chairman) as its key management personnel and he had no employment benefits including employer pension contributions. (2020: none). Other PCC members give of their time freely and no remuneration was paid in the year with the exception of Mark Ratcliff, Chanelle Leher, Vava Tsioupra and Elia Casotti.
During the year the PCC employed a caretaker, music director, youth minister, children and families minister, pastoral associate for families, operations manager, financial administrator, communications officer, cafe manager and deputy manager and pre-school staff, none of whom had employment benefits in excess of £60,000 per annum (2020 : None).
Clergy stipends are determined by the Diocese of London and include a provision for National Insurance and pension contributions. The Vicar stipend is included in the Common Fund contribution.
4. PENSIONS
There is a Group Stakeholder Pension Scheme for those members of staff who are eligible to join. The assets of this scheme are held separately from those of the PCC, being invested with insurance companies. Pension costs charged in the statement of financial activities represent the contributions payable by the PCC during the year.
5. MISSION
During the year gifts totalling £2,269 were received including income tax recoverable for use in mission beyond the parish. This was increased by a transfer of £33,161 from general fund. As a result £35,430 was paid out or allocated in mission grants, those £1,000 or over are noted below, including those from a previous year carried forward balance
| Asaph Trust | £12,545 |
|---|---|
| Wycliffe Nicolle | £6,000 |
| BMS Sandersons | £3,000 |
| OMF Margaret Rugira | £4,000 |
| T4 Global | £5,000 |
| CMJ | £4,500 |
| Open Doors | £2,000 |
| UCCF | £2,000 |
6. SPECIAL APPEALS
Special appeals were made which raised £3,014 and these were all paid over to the beneficiaries. Those £1,000 or over are noted below.
Scripture Union UK for Amatola South Africa £2,300
7. INVESTMENTS (Restricted Funds)
| INVESTMENTS (Restricted Funds) Investment with Central Board of Finance re Burrowes/Hutchins Fund Market value as at 1 January 2021 Unrealised gain /(loss) Market value as at 31 December 2021 Historical cost as at 31 December 2021 |
2021 11,553 (768) |
2020 11,159 394 |
|---|---|---|
| £10,785 | £11,553 | |
| £10,500 | £10,500 |
8. TANGIBLE ASSETS - PROPERTIES
| TANGIBLE ASSETS - PROPERTIES | ||
|---|---|---|
| Value as at 1 January 2021 Unrealised gain Value as at 31 December 2021 |
Christ Church House Restricted Freehold 1 & 2 Chalk Lane Unrestricted Designated Leasehold 2021 TOTAL 3,257,513 622,942 3,880,455 237,823 18,688 256,511 |
2020 TOTAL 3,859,389 21,066 |
| £3,495,336 £641,630 £4,136,966 |
£3,880,455 |
The PCC owns the following properties in the legal name of the London Diocesan Fund, held on trust for the PCC:
-
The freehold of Church House (shown at insurance value), and
-
Leases of 1 and 2 Chalk Lane for a period of 99 years from 24th June 1965 (shown at insurance value).
The Church building and vicarage, as consecrated property, do not belong to the PCC. The Church was insured for £6,537,421 (2020 : £6,354,930) while responsibility for the vicarage rests with the diocese.
9. DEBTORS
| DEBTORS | ||||
|---|---|---|---|---|
| Weekend Away 2021 Income tax recoverable The House Café Miscellaneous Training, subscriptions and insurances |
Unrestricted General Fund - 43,156 21,900 |
Mission Fund Fordham Road Ministry Trainee 868 - Restricted Funds |
The House Support Buildings Fund Pre School 2021 Total - 375 - 44,399 - - - - 1,476 23,376 Unrestricted Designated Fund |
2020 Total 5,300 67,161 346 1,835 1,572 |
| £65,056 | £0 £0 868 |
£0 £375 £0 1,476 £67,775 |
£76,214 |
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CHRIST CHURCH COCKFOSTERS NOTES TO THE FINANCIAL STATEMENTS for year ended 31 December 2021
10 CREDITORS
| CREDITORS | ||||
|---|---|---|---|---|
| Audit fee Mission grants Miscellaneous accruals |
Unrestricted General Fund 6,000 2,616 |
Mission Fund Fordham Road Buildings Fund - - Restricted Funds |
The House Support Building Fund Pre School 2021 Total 6,000 - - - 180 2,796 Unrestricted Designated Fund |
2020 Total 6,000 3,615 18,343 |
| £8,616 | £0 £0 - |
- - - 180 £8,796 |
£27,958 |
11. RELATED PARTY TRANSACTIONS AND PCC MEMBERS EXPENSES
Vava Tsioupra was paid as a full time Operations Manager and Rebecca Ratcliff was paid as a part time manager for The House Café during 2021. She is married to Mark Ratcliff a member of the PCC until the April APCM who received an amount of £363.44 in recognition of work undertaken "audio/video". Elia Casotti was employed as a caretaker and deputy cafe manager.Nicki Hooke is married to David Hooke. David's work is supported by one of our mission partners The Asaph Trust. Chanelle Leher received £2,400 during the year as a contributions towards Amelia Dew (ministry trainee) accommodation expenses. There were no other disclosable transactions in respect of PCC members, persons closely connected with them or other related parties.
There were no expense reimbursements paid to PCC members during the year. (2020 NIL).
12. AUDITORS' REMUNERATION
The auditor's remuneration constituted an audit fee of £6,000 (2020: £6,000).
13. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounts Regulations 2006 governing the individual accounts of PCCs, and with the Regulations "true and fair view" provisions, together with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) as the applicable accounting standards and the Statement of Recommended Practice Accounting and Reporting by Charities [SORP (FRS 102)]
The PCC is a public benefit entity within the meaning of FRS 102.
The financial statements have been prepared under the historical cost convention except for the valuation of investments and properties which are shown at fair value and insurance value respectively.
Going concern
The members of the PCC have considered all available information about the future and will ensure that the Church has adequate resources available to finance its activities and other obligations during the course of the next twelve months and, therefore, no material uncertainties have been identified by the members that may cast any significant doubt about the ability of the Church to continue as a going concern.
Christ Church Trust is a connected charity and has produced its own accounts which are attached. The PCC has decided that as this trust is a separate charity, it is not appropriate to include its figures.
Funds and Reserves Policy
Unrestricted Fund
This represents the funds of the PCC that are not subject to any restrictions regarding their use and are available for the general purposes of the PCC. These funds are maintained at a level sufficient to allow for normal expenditure to be met when due, even though the level of income fluctuates from month to month.
Unrestricted Designated Funds
These represent funds designated by the PCC as follows :
-
The House Café - In 2011 The House Café was launched as part of our evangelical outreach to the community. In order to give greater clarity the income and expenses are reported separately
-
Pre School Fund - The pre school receives income from fees and donations which are unrestricted
-
Buildings Fund - to pay for improvements to Church property
Restricted Funds
This represents the funds of the PCC that are subject to restrictions and can only be applied for particular purposes within their objects. The following restricted funds are detailed below.
Ministry Trainees
This fund is to support apprentices appointed by the Church leadership for training in Christian ministry and for serving within specified and general areas of the church's life and to assist with living expenses and reasonable church ministry expenses.
Fordham Road
This fund is restricted to donations received for the purchase of Fordham Road together with expenses incurred during the purchase of this property for use by the Youth Minister.
Mission Fund
This fund is for the support of our mission partners.
Pre School Fund - The pre school also receives grant income from the local authority which is restricted in use and cannot be used for the general purpose of Christ Church, therefore this income and the expenditures related to this is reported separately.
Burrowes/Hutchins Fund
This represents gifts, the income for which is mainly to assist young people to go on Christian house parties and activities or short term placements with Christian organisations.
Property Funds
Restricted - Christ Church House Fund - Comprises the insurance value of Christ Church House which is regarded as being funded originally by specific gifts of a restrictive nature.
Unrestricted but designated - 1 & 2 Chalk Lane Fund - comprises the insurance value of 1 & 2 Chalk Lane. They were funded by a mortgage which was repaid out of unrestricted funds.
Income Resources
Voluntary income - donations and legacies
Collections are recognised when received. Amounts receivable under gift aid are recognised only when received. Income tax recoverable on gift aid donations is recognised when the income is recognised. Grants and legacies to the PCC are recognised only when received. Share giving is recognised at the market value when the shares are transferred. Funds received by the Pre-school and bookstall are accounted for gross.
- 13 -
CHRIST CHURCH COCKFOSTERS NOTES TO THE FINANCIAL STATEMENTS for year ended 31 December 2021
13. ACCOUNTING POLICIES (continued)
Activities for generating funds
Rental income from the letting of Church premises is recognised when the rental is due. Fees due to the PCC for weddings etc are accounted for on an event by event basis. The House Café activities are accounted for on accruals basis.
Income from Investments
Dividends and interest are accounted for when due and payable.
Church Activities
Realised gains or losses are recognised when the investments and properties are sold.
Unrealised gains or losses are accounted for on the revaluation of investments and properties at 31st December each year.
Expenditure and Liabilities
Mission Grants
Grants and donations are accounted for when paid over or when awarded, if that award creates a binding obligation on the PCC.
Expenditure on Church activities
The Diocesan parish share is accounted for when payable. There was no amount outstanding at 31st December 2021.
Liabilities Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation and settlement is probable and quantifiable.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of expenditure for which it was incurred.
Tangible Fixed Assets
Consecrated land and buildings and movable church furnishings.
Consecrated and beneficed property is excluded from the accounts by S.10(2)(a) and (c) of the Charities Act 2011.
No value is placed on movable church furnishings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditures incurred during the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off when incurred.
Other land, buildings, fittings and equipment
Other land, buildings, fittings and equipment are regarded as inalienable property held on special trust on behalf of the PCC. The freehold of Church House and the leaseholds of 1 and 2 Chalk Lane are shown in the balance sheet at their value for insurance purposes . The surplus arising on revaluation each year, arising from the index-linking of insurance policies, is added to the relevant funds. No depreciation has been provided due to their very long lives and high residual values. The fixtures and fittings are shown by way of note with no value being incorporated in the financial statements. Any expenditure on maintenance or repairs is written off when incurred.
Fixed Asset Investments
Investments are valued at market value as at 31 December 2021.
Current Assets
Amounts owing to the PCC at 31 December 2021 in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove un-collectable.
- 14 -
West Wake Priee I.LP Statutory Auditors Chartered Accountants The meanDe Floor 68 Cornhill L•ndon, EC3V 3QX Independent Auditor5, Report to the Members of Trent Paroehial Chur¢h CovnciL Cbrist Chur¢h Cockfostsrs Oplnlon We have audited the fitMll¢ial statements of Trent Parochial Church Council. Cbrist Church Cockfosters. for the year ended 31 D¢rnber 2021 which ¢omprise the Statement of Financial Activitie$, the Statemet)t of Finan¢i81 Pvsition, Statemet)t of Cash Flows and the related notes. lthe financial reporting fralnework that has been appli in their preparation is applicable law and the United Kingdom Accounting Standards. including FRS 102 The FiTMi¢ial Reporting Standard appli¢able in the UK at)d Republi¢ of Jrelalld Iunited Kingdorn Generally Accepted A¢couniing Practice). In our opinion the fingncial stat¢m¢nts= give a true alld fair view of thc 5tat¢ of Trent ParoGhial a)urch Couttcil's aff&its as at 31 December 2021 at)d of its incoming resources and appli¢Ntion of resources, in¢ludÈn8 income and exp¢ndithre, for th¢ ycar then ¢ndcd., have bem properly prepared in aecordan¢¢ wKth United Kingdom Generally Accepted Accounting have b¢en prepared in ac¢ord8nce with the requirements of the Chariti¢$ Act 2011. Basis for oplnlo We Londucted our audit in aword with International StaDdard5 on Auditirlg (UK) IISAS {UK)) and applicable aw. Our reqponsibilities under those standards ar¢ fvrther described in the auditoes respollsibilitÈes for the audit of thc fJnttrtci&l statcn]¢nts seetion of our report. We are iDdependcnt of the ¢harity in accordattee with the cthiLal requirements that are relevant its our audit of the financial %¢atements in th¢ UL includsng the FRC'S Ethicgl Standard, and we have fulfilled our other ethical i¢sponsibiliti¢s in a¢cordanc¢ with these requiretnents. W¢ belIeve that the audkt evidence we havt obtaincd 18 sufficient and appropriate to provide g4 b&sis for our opinioll. ConetusloDs rtladng to golng toncer We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where.. the Inctbs. use of the goitig concern ba5LS of xcounting the PTeparation of the financial statements IS nor appropriat¢; or the members have not discloscd in the financi81 statements any identifi¢d material un¢ertainiie5 that may cast Significant doubt about the charity'8 ability to continue to adopt the going concem basis of accounting for a pcnod of at least twelve months from the dAte when the financial ststements are authorised for 25SU¢. Other infomAtlon The other inforniation comprises the inforniation included in the anTJual rwrt, other than the fiTt8ncial statements and our auditor's report thmn. The m¢mbers are responsible for the other infomiation. Our opinion on the rinancial stst¢m¢nts does not cover the other iofornJat2on and we do not &xpre8s any forn of assurance conclusion thereon. Is-
Independent Auditors, Report ¢0 the Memben of Trent Parochial Cbur¢h Countil. Christ Church Cockfo5ters (Continued) In ¢onnection with our audit of the fjnancial statemellts, Our responsibility is to read the other infL)rniation and, in doing so, ¢onsidcr whether the other information ss mat¢rially inconsistent with the financi21 ststements or our knowledge obtained iti tbe audit or otherwise appears to be rnatetidlly misstated. If we id¢ntify such mateTig1 inconsistencies or apparent material misstatellienw we ar¢ required detern)ine whether there is a material mi5Statem¢nt in thc finatscial stat¢Jnents or a rnaterial misstatement of the other iDformation. If. baged on the wod( we have perfomied w¢ wnclude that there is a material misstal¢rnent of this other infomiation, w¢ src requittd to rq)ort thai fact. We have nothing to report in this rega Matters which we are required to report by exceptlon We havt nothing to report iii Ie5pect of the following matter5 in latiOn to which the Ch8ritiL¥ (A¢UrS and Reports) R¢gulations 2008 and Church AGcounts Regulations 2006 Tequir¢ us to rcportto you if, in our opinion.. the infom)ation given in the fin8nCl statements is inc0llsiste in any rnater1 ttSpt with the rnembers, tEport; or sufficient accounting rerdS have not been kep( or the financial statemettts are not in agreernet with the aonting records; or we have not received all the infomiation and expSanations we require for owaudit. Responsibilities of the mtmbers As ¢xplaincd mor¢ fully in the rntmbers, responsibilities statement {set ollt on pag¢ 5 of thc PCC annual report), the mcmbers are responsible fvr Lbe preparntion of the l]naDLial stst¢zll¢nls aTLd for being satisfied that they giv¢ a true and fair view. alld fvi such internal control as the members ddern]ine is ncc¢ssary to enable the preparation of finan¢ial statements that are fr¢e from material rnisstatemenl wh¢th¢r due to frwd or error. Auditor's responsibilities for tke audlt the fi¢[1 statements This report Is made solely to thc njembcrs of ihe Trent Parochial Chur¢h CounciL as a body, in accordance with section 144 of the Charities Act 2011 and rcgulations made under swtion 154 of that Art. Our audit work has b¢¢n undcrtaken $0 that we might state to the mcmberg of the Trent Par(thial Church Council those matters we are required w state to tb¢m in an auditors, r¢port and for no oth¢r purpos& To th¢ fullest extent p¢miitt¢d by law, we do not a¢¢ept or asiutne responsibility to anyone other than the Trent Parochial Church Council and its members a5 a body. for our auditwork, for thi"¥ r¢w)¢ or for th¢ opinion$ we bave fortn¢d. We have been appointed as auditOT uJKler $eelion 144 of the Charities Act 2011 and rewrt in accor(]ance wilh the Act and Televant regulations made of having effect thertunder. Our objectiveg are to obtaiD reasonable assuran¢¢ about whether the financial 91atements a$ a whole are free from material EDis5taiemen( whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable dssurance is a high level of assurattce, but is not a guarantee that an audit conducted in ac¢ordan¢e with ISAS IUKI will always deteci a material misstatement wh¢n it CXLSts. Mlsststents call arise from fraud or etTor and are considered rnaterial if. individually or in the aggregate. they could reasonably be expected to influence the ¢¢onomi¢ decisions of users taken on thc basts of these funcE81 statements. As part of an audit in ac¢ordan¢e with ISAS (UK). w¢ ex1$¢ profession81 judw¢nt and professional scephcism throughout the audii. We also.. Id¢ntify and a68e8s th¢ risks of material n)isstatetnent of the financial statements, whether due to fraud or error, design and pcrfoTm audit procduycs responsiyt lo those risks, and obtain audit evid¢rt¢e that is suffi¢ient and appropriat¢ io provide a basis for our opinion. The risk of not detecting B material misslatetnent resulting frorn fraud is higlLeT than for ollc resultll)g from error, as fraud may involve collusion, forg. inientional omi5SiOnS, misrq)res¢ntstions, or the Oveide of interna] Control. -16-
Independent Auditors, Report to the M¢mbers of Trent ParochS8l Church CounciL Christ Church Cockfosters (cootinued) Obtain an und¢rsthndittg of itttemal conttol relevaTrt to the audit in order to design audit procedures that are appropriate in ihe cirLumsianc¢s, buL not for the putV05¢ of ¢xpr¢$$tng an opinion on the ¢tiveneSS of the internal contrtsl. Evaluat¢ thc appropriateness of accounting w)li¢ies used and the reason&bl¢n¢ss of accounting ¢stimates and [LIad disclosures made by the truste&%. Conclud¢ on the appft)priateness of the menthers, use of the going concern b&sis of accowiting an¢ based on th¢ audit evidence obtained, whettier a material unceriaillry exists related to events or ndItIOnS thai may c&8t signific%Lllt doubt on tbe Lharity's ability to contillue as a going concern. If we conclude that a material uncertainty exists, we ar¢ required to drnw attention in our auditor's report to the relgted disclosure5 in th¢ financial statements or, if such disclosureg are inadequate. to modify tsur opiniott. Out Conclusions are based on the dudit cvid¢n¢¢ obtaincd up to the datc of our auditor's reporL However, fvtur¢ event% or conditions rnay Cau the charty ti) cease to eoniinue as a going ctsft¢em. Evaluott the overall presentation, sttu¢ttwe aDd CQDlent of the fjnancial statements. including the disclosures. and whether the financial statements represent the und¢rlying transactions and ¢v¢nts in a manner that acl)ieve5 fair preseDÉatiOll. We COunICat¢ wilh those charged with governall¢e regarding, among other rnatters. the plat)ncd scopc aiml timing of the audit sigtiificallt audit flllgs, includin8 any Slgnificant d¢fi¢icncses in intemal control that we id¢ntify during ouraudit. - P_- LAf West Wske Price LLP Statuiory Auditors Chartered Accountallts London 7 April 2022 West Wake Pri¢¢ LLP is ¢ligibl¢ for apw)iDtment ab auditor of the charity by virtue vf its. ¢ligibitity for appDiiiim¢nt as auditor of a ¢ompany uudcr section 12l2 of the Companics Act 2006. 17-
The Christ Church Trust Balance Sheet Yoar to 31st D•comb•r 2021 Unm4trkt•d UDrl•W¢d G•MrDI TOTAL 20 Fund 13 WI •TWrty (27 58 FObath Roid nknr2¢201 87ts,th)Q 85.000 87$. 585.0 87S.QOO s.r Tthl Fil•• 8.49J .490 Q4F iO.Jg9 T(•1 P90Y Fund Gi•rnl FuDd 1g6.B74 176.12$ .40 4, 1) Ro•dwiMwibJ•Oon 2F odDbwln20d -.l ¢K 4-,4 CCJ .Sknbi J.+wton J)ILL Trd* LKLk P_ WthWihpFrfwLI.P
Tho Christ Church Trust Statement of Flnanclal Activities Year to 31st December 2021 UDN•lrfthd G•n•rnl Fuhd PrLy>irty TOTAL 2020 I111ry•oUlC•4 Reni.Crnl Churth G)¢kl0thrn Othei rnc•lkn Ch1 Chuth 25.200 26.2ryJ 2W.963 205812 POrtY Ew•n4liur• •nd eoBt• CAF Bink N4ongkg• Fdh• R41 64nk Charg98 OonDt&)n to Chrtjl Chuth Crtkto•t•rd 016 22,150 916 1,944 e21 80 9e Tot•1 •xpond•d Il•¢ th¢¢Jmlng ltyJi•tho1 r•awr•• Asrth• y••r 10.400 2,OJ7 12.436 2D),Ib8 13 Wllon Ro•¢ R•valuatknn Gah 383 529 N•1 10,400 3.Q37 12,4)1 Y$,717 Fund7 bFought lowrd 816.2ZS 6.459 B62.6a4 315.987 Fund• C•rf•d F•rw4f 4a2 184 Nol•'. •ryrty V•1 2020 TOTJI wi¥)n Rd Parthrn TOTAL Prqrty yu0 41 ai Ji tE•r2010 175.QQ JP5.000 1210.000 f,260.OOQ Rav&J81k)n Goln$ PrOp•typU• a8 4tJ1 DI¢•Mr2D21 176,DQQ 1.26D,000