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2022-12-31-accounts

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

Charity number: 1134718

The Parochial Church Council of the Ecclesiastical Parish of Christ Church, Beckenham

Annual Report and Financial Statements

For the year ended 31 December 2022

Auditors

Griffin Stone Moscrop & Co Chartered Accountants Statutory Auditors 21-27 Lamb’s Conduit Street London WC1N 3GS

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

CONTENTS

Page
Reports
Annual Report of the Parochial Church Council 1 - 7
Independent Auditors’ Report 8 - 11

Financial Statements Statement of Financial Activities 12 Balance Sheet 13 Notes to the Financial Statements 14 - 42

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Parochial Church Council (PCC) presents its annual report and financial statements for the year ended 31 December 2022.

Aim and Purpose

The Parochial Church Council (PCC) has the responsibility of working with the Vicar and staff team in promoting the whole mission of the Church. At Christ Church, Beckenham (CCB) we have defined our mission as: - ‘to share the love of Jesus Christ in word and deed so that people become his followers to the glory of God’.

Reference and Administration Information

The Parochial Church Council of the Ecclesiastical Parish of Christ Church, Beckenham was registered with the Charity Commission on 8 March 2010, number 1134718.

Location

Christ Church is situated in Fairfield Road, Beckenham. It is part of the Diocese of Rochester within the Church of England. The correspondence address is Christ Church Office, 1A Christ Church Road, Beckenham, BR3 3LE.

Membership

The members of the PCC from 1 January 2022 to the date of approval of this report (made up of ex-officio members, members elected by the APCM in accordance with the Church Representation Rules and co-opted members) were:

Incumbent: The Rev Robert Hinton (Chairman)

Other staff: The Rev Nigel Poole (non-stipendary Associate Vicar) Miss Kirstyn Oliver (Children and Families Minister) (co-opted member) Wardens: Frank Martindale (Vice-Chair) Hilary Walker Licensed Lay Minister: Colin Gale Deanery Synod Representatives: Gill Boulton (until 6 February 2023) (Interim Treasurer) Sarah Poole (Secretary until 16 May 2022) Diocesan Synod Representative: Sarah Poole Elected members: David Brooks Tim Cook Peter Dow Sian Henderson Conrad Kader (until 16 May 2022) Anne Lancaster Pauline Marke Jonathan Poole Derrick Sanyahumbi (from 16 May 2022) Ruth Salama Mark Wells

Minute Secretary

Helen Rendell (from 16 May 2022)

Treasurer

Sarah Martin (from 6 February 2023)

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Reference and Administration Information (continued)

Bankers

NatWest Bank PLC 41 High Street Beckenham, BR3 1DA

Independent auditors

Griffin Stone Moscrop & Co Chartered Accountants Statutory Auditors 21-27 Lamb’s Conduit Street London, WC1N 3GS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Parochial Church Council

The Parochial Church Council (‘PCC’) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure 1956, as amended and the Church Representation Rules.

PCC members are elected at the Annual Parochial Church Meeting by Electoral Roll members present at the meeting. One third of members will retire each year and new members are elected for 3 years. Church Representation Rules provide for a minimum of 9 elected members. There are also 3 elected members to the Deanery Synod who serve for 3 years and who are also voting members of the Church Council.

Our arrangements ensure that new PCC members undergo an induction to brief them on their legal obligations under Charity and Church law, and their role as members of the Council.

Volunteers : The PCC relies on the help of many volunteers who devote at least 100 hours per week to assist in running the Church.

Public Benefit : The PCC has considered the Charity Commission’s guidance on public benefit. This has always been at the very heart of our mission statement and the following review depicts just some of our many activities enabling ordinary people to live out their faith as part of our parish community.

Risk Assessment Policy: Major risks have been reviewed and systems or procedures have been established to manage those risks, in particular those related to the buildings and finances.

Meetings of the PCC and Committees

Since the APCM in May 2022 until the time of writing, the PCC have met five times physically. All meetings were opened with a scripture reading and prayer, led by a member of the Council. All meetings closed in prayer.

The following Groups continued to meet and support the work of the PCC, submitting reports and recommendations as appropriate throughout the year:

These Groups are mainly made up of PCC members with the power to co-opt other members as needed.

The Standing Committee was convened once by Zoom and six times by email.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

ACHIEVEMENTS AND PERFORMANCE

After the trials of the pandemic and a Christmas disrupted by the COVID-19 Omicron variant, it was a relief to make it into January 2022. Christ Church entered the New Year with a need to step away from the anxiety of the previous two years and all the unhappiness and tension which they had brought. It is fair to say that the Church looked and felt very different to pre-pandemic, but that allowed for a reappraisal of what was important and where the Church would best fix its vision.

The Motto text was ‘Come unto me, all ye that labour and are heavy laden, and I will give you rest.’ Matthew 11:28 and 2022 was designated a year of Pastoral Care. This was followed up with a very well- and enthusiastically-attended morning exploring a re-awakened Pastoral Care Framework for CCB, out of which has come a new confidential Prayer Chain, and a very much appreciated Bereavement Café known as CaféMatthew5:4.

A new ministry and outreach for men called TDH – Men’s Ministry for every Tom, Dick & Harry, was started and this met 8 times in the year at a local restaurant for fellowship and reflection.

Sunday Services continued to follow the timetable begun in September 2021 and much of the teaching was given over to the theme of Pastoral Care. The early service remained a haven of quiet reflection, the 11 O’clock grew in exuberance and freedom of expression, despite the numbers being slightly down and the evening services continued. We are grateful for the contributions of all those who have led worship, preached, played, read, prayed, and sung at all our services.

The Music and PA/AV team have continued to cope with the constant challenges that the new demands and old equipment present. Thanks to all the teams for their hard work. It has been a cause of great joy to see more and more people, young and old, come forward to offer themselves in lots of different ministries.

2022 saw a significant amount of work in the church building with the complete replacement of our lighting scheme and preparation for a refreshment of our AV/PA provision.

Under the gifted ministry of our new Children and Families Minister we have seen our work with children and their families flourish. Alongside her regular ministry she has also helped the Church to take a more inclusive view when it comes to children, young people and adults with special educational needs.

A new social committee was formed out of the work done to celebrate the Queen’s Platinum Jubilee and this is already bringing benefits for the life of CCB with monthly activities being planned from January 2023.

While 2022 saw many Life Groups fulfilling their potential, it is sad to say that a couple struggled to maintain their fellowship. This is something which will be explored in 2023.

Throughout 2022, we have been making a gradual move to reshaping the way we manage CCB’s considerable finances. By the end of the year the PCC agreed the decision that our Accounts Officer should take on the role of Treasurer. She also takes over the role of Treasurer to the Missionary Committee and, with the help of our Auditors and the Association of Church Accountants and Treasurers, she will assume full management responsibility for our accounts. We are grateful to all those who have served the Church in this ministry.

All-in-all 2022 was a year when, on the whole, CCB began to turn its back on the struggles of previous years and look to a new awakening of care, kindness, gentleness and generosity. 2022 set a new tone which has allowed us to go into 2023 as a Year of Joy.

Electoral Roll: There were 213 on the Electoral Roll at 1 January 2022 and 192 at 31 December 2022.

Major matters of Council business in 2022

The Vision and Needs for 2022 were discussed at PCC meetings. At the first meeting of the new Council in 2022 officers of the PCC were appointed.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

All vacancies to the lay membership of the PCC were filled at the APCM but there is still one space for Deanery Synod member.

A standard agenda was introduced which included a Chairman’s Report at each meeting together with reports from each of the PCC Groups. A Safeguarding Report was received at each meeting.

Major items reported on and discussed during the year included the following:

Churchwardens : As officers of the Bishop, the Churchwardens continued to discharge duties as are by law and custom assigned to them up to the date of their resignations.

The PCC delegates the day-to-day management to the Vicar and Churchwardens.

Further information regarding the upkeep of our buildings , together with our responsibilities to the remainder of our properties, is noted fully elsewhere in this report.

Also noted are matters associated with the maintenance and improvement of the Church and Halls premises. The PCC has responsibility for the upkeep and use of other property, residential and commercial and received reports and advice on financial, legal and general property management issues.

Safeguarding : Our commitment to the Parish Safeguarding Policy was renewed at the first meeting of the new PCC in July 2022 and the Council has complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to the House of Bishops' guidance on matters relating to the safeguarding of children and vulnerable adults). We comply with all the Diocesan procedures, and good practice and safeguarding is a standard item on the agenda at all PCC meetings.

Staffing : We welcomed Kirstyn Oliver as our new full-time Children and Families Minister. Kirstyn brought a wealth of understanding, creativity, vision, organization and pastoral commitment to every aspect of our work with under-16s. She has been a minister to helpers, children, parents and carers alike. She is a highly trusted and valued member of the ministry leadership team, and she is very happy in her work and as part of the team.

Deanery Synod Report:

Christ Church Beckenham is entitled to three elected members of the Deanery Synod, but since the APCM in 2021, there have only been two.

There were only two meetings scheduled during the past year. The first one took place in July 2022 when there was a presentation by Rochester’s Communication Manager and Bishop’s Media Adviser, Jenny Ross. This was very informative and well received. General business was also reported on.

The next meeting should have been in November but was cancelled, as Beckenham and Bromley Deaneries were invited to meet our new Bishop, Bishop Jonathan. This was an opportunity to learn more about him and to hear his plans for the diocese.

Diocesan Synod Report:

Sarah Poole is the Lay Chair of the Diocesan Synod. There were three meetings in 2022. All meetings start with a Presidential address from the Bishop and also have reports on safeguarding and General Synod.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Fabric, Goods and Ornaments of the Church

In addition to the regular responsive, planned and cyclical repairs and maintenance to the church, including the required statutory inspections and checks, the following significant projects were undertaken during 2022:

The PCC continue to ensure there is sufficient funding to enable urgent and programmed maintenance works to be carried out.

FUTURE PLANS

FINANCIAL REVIEW

The Statement of Financial Activities details a deficit of income over expenditure of £94,672 (2021 - £47,873) before unrealised gains on investments. This sum is after inclusion of £34,278 (2021 - £32,588) investment income on the Thornton Dene Proceeds Fund which is retained within the fund and not used to meet everyday expenditure arising.

Congregational giving to unrestricted funds for the year, including Gift Aid claimed, increased by £6,527 (6.23%).

Following the resumption of halls lettings towards the end of 2021, a full year’s worth of income totalling £17,509 was recognised. We are fortunate to have continued to receive significant income from our property and savings investments which totalled £228,494 (2021 - £206,890).

Congregational giving to restricted funds, principally Missionary Giving, including Gift Aid arising, increased by £9,396 (23.80%).

Unrestricted expenditure totalled £461,348, an increase of £109,178 from the 2021 total of £352,170. Within each total are amounts withdrawn from specific designated funds: the 2022 figure includes £nil (2021 - £17,528) towards the costs of progressing the planning stage of the proposed redevelopment of the Halls site, £79,332 (2021 - £66,458) towards the repair and maintenance of our properties and £6,297 (2021 - £2,078) towards the Parish Offer. Adjusted for these withdrawals, the unrestricted general expenditure for the year was £375,719 (2021 - £266,106).

The regular transfers were made to designated repair funds to meet larger items of expenditure on our properties as they fall due at irregular intervals.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Our cash and near-cash investments are held both with the Rochester Diocese and CCLA - the specialist charity fund manager which maintains The Church of England Investment Fund. There was a decrease in our invested funds for the year of £270,902 (11.45%).

Following consultation with an appropriate professional the value of the residential investment properties at 1 & 2 Christ Church Road were reassessed resulting in an unrealised gain of £60,000.

Grant making policy: The PCC makes donations to individuals or charitable organisations with activities which are sympathetic to those of the Church. Included amongst these during 2022 was a grant of £5,000 made to St John the Evangelist Church (CAP) project run by St John’s Penge, to assist in its ongoing working needs, and donations of £11,000 to Ukraine.

Reserves policy: The reserves policy of the PCC is to hold near cash funds to cover at least 3 months’ operating expenditure (being total unrestricted general expenditure plus transfers to the designated property repair funds); based on 2022 figures, this is £107,939. At 31 December 2022 liquid unrestricted general reserves totalled £231,430, which both provides for an anticipated budget deficit for 2023 and a buffer for any void periods in respect of property rental income or fluctuations in congregational giving.

In addition, as a matter of prudency, funds are set aside in unrestricted designated accounts held by Rochester Diocese to meet emergency and cyclical property repair requirements.

Going concern: The PCC members, after making appropriate enquiries, have a reasonable expectation that the PCC has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Once again the PCC wishes to thank all who generously support the work of the Church, through continued prayer, financial contributions and voluntary assistance in the many spheres of the Church’s life. We give grateful thanks for the foresight of our predecessors of many years ago together with those in recent times who have bequeathed us such a substantial financial foundation which aids the continuation of our Christian witness in Beckenham.

STATEMENT OF PCC MEMBERS’ RESPONSIBILITIES

The PCC members are responsible for preparing the annual report and the 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 financial 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 these financial statements, the PCC members are required to:

The PCC members are responsible for keeping accounting records that are sufficient to show and explain the PCC’s transactions and disclose with reasonable accuracy at any time the financial position of the PCC and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the Church Representation Rules.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

PCC members are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the PCC on 19 April 2023 and signed on its behalf by:

…………………………......................

The Rev R Hinton, Chairman

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

Opinion

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Christ Church, Beckenham ('the PCC') for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the PCC in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the PCC members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the church's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the PCC members with respect to going concern are described in the relevant sections of this report.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The PCC members are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

Responsibilities of PCC members

As explained more fully in the Statement of PCC members' responsibilities, the PCC members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the PCC members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the PCC members are responsible for assessing the PCC's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the PCC members either intend to liquidate the church or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM (CONTINUED)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud, are detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM (CONTINUED)

Use of our report

This report is made solely to the PCC members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the PCC members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the PCC members, as a body, for our audit work, for this report, or for the opinions we have formed.

Griffin Stone Moscrop & Co

Chartered Accountants Statutory Auditors 21-27 Lamb's Conduit Street London WC1N 3GS

20 April 2023

Griffin Stone Moscrop & Co are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income and
endowments from:
Donations and legacies
4
Charitable activities
5
Investments
6
Other income
7
Total income and
endowments
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net
(expenditure)/income
before net
(losses)/gains on
investments
Net (losses)/gains on
investments
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2022
£
124,766
27,976
206,341
20
359,103
10,689
450,659
461,348
(102,245)
(169,259)
(271,504)
2,956,268
(271,504)
2,684,764		 Restricted
funds
2022
£
48,877
-
22,153
-
71,030
-
63,457
63,457
7,573
-
7,573
12,946
7,573
20,519		 Endowment
funds
2022
£
-
-
-
-
-
-
-
-
-
(41,643)
(41,643)
5,300,799
(41,643)
5,259,156		 Total
funds
2022
£
173,643
27,976
228,494
20
430,133
10,689
514,116
524,805
(94,672)
(210,902)
(305,574)
8,270,013
(305,574)
7,964,439		 Total
funds
2021
£
144,203
13,440
206,890
1,067
365,600
23,231
390,242
413,473
(47,873)
388,011
340,138
7,929,875
340,138
8,270,013

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 14 to 42 form part of these financial statements.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
16
Investment property
17
Investments
18
Current assets
Stocks
Debtors
19
Short-term deposits
Cash at bank and in hand
Creditors: amounts falling due within one
year
20
Net current assets
Total net assets
Charity funds
Endowment funds
22
Restricted funds
22
Unrestricted funds
22
Total funds		 518
73,953
504,956
95,678
675,105
(96,478)		 2022
£
3,210,000
2,080,000
2,095,812
7,385,812
578,627
7,964,439
5,259,156
20,519
2,684,764
7,964,439		 367
209,154
505,785
74,641
789,947
(75,261)		 2021
£
3,210,000
2,020,000
2,325,327
7,555,327
714,686
8,270,013
5,300,799
12,946
2,956,268
8,270,013

The financial statements were approved and authorised for issue by the PCC members on 19 April 2023 and signed on their behalf by:

................................................

The Rev R Hinton

Chairman

The notes on pages 14 to 42 form part of these financial statements.

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DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. General information

Christ Church, Beckenham is an Evangelical Anglican Church located in Fairfield Road, Beckenham, BR3 3LE. A description of the nature of the PCC's operations and its principal activites can be found in the annual report of the PCC.

The presentation currency in these financial statements is sterling and figures are rounded to the nearest pound.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The 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 the Charities SORP (FRS 102) published 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 Parochial Church Council of the Ecclesiastical Parish of Christ Church, Beckenham ('the PCC') meets the definition of a public benefit entity under FRS 102.

2.2 Going concern

The financial statements have been prepared on the going concern basis. There are no material uncertainties related to events or conditions that may cast significant doubt upon the PCC's ability to continue as a going concern.

2.3 Income

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

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Collections are recognised when received by, or on behalf of, the PCC. Planned giving received under Gift Aid or deeds of covenant is recognised when received. Other donations are recognised when they have been communicated or received in writing with notification of both the amount and settlement date. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

For legacies, entitlement is taken as the earlier of the date on which either: the PCC is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the

Page 14

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.3 Income (continued)

estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the PCC has been notified of the executor's intention to make a distribution. Where legacies have been notified to the PCC, or the PCC is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Rental income from the letting of Church premises is accounted for when due. Parochial fees due to the PCC for the letting of Church premises is accounted for on an event-by-event basis.

Dividends and interest on funds held on deposit is included when receivable and the amount can be measured reliably by the PCC; this is normally upon notification of the interest paid or payable by the bank.

Other income is accounted for when due.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

Expenditure on raising funds comprises investment management costs relating to the maintenance and servicing of the PCC's investment properties.

Expenditure on charitable activities comprises costs directly relating to the work of the church and includes supporting mission and mission-related activity, mainly outside the parish, allocated at the discretion of the Mission Support Group. The Diocesan parish share is accounted for when payable, the amount being determined by the PCC.

Support costs are those costs incurred directly in support of expenditure on the objects of the PCC. Governance costs are those incurred in connection with administration of the PCC and compliance with constitutional and statutory requirements. Support costs and governance costs are analysed in Note 10 and have been allocated in full to expenditure on charitable activities.

Costs of generating funds are costs incurred in maintaining the PCC's investment properties.

Costs of charitable activities and governance costs are costs incurred on the PCC's operations, including support costs and costs relating to the governance of the PCC apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

The PCC is not registered for VAT purposes and so all expenditure is inclusive of irrecoverable VAT.

Page 15

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.4 Expenditure (continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the PCC to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the PCC's objectives, as well as any associated support costs.

2.5 Tangible fixed assets and depreciation

All assets costing £2,500 or more are capitalised.

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property of any kind is excluded from the financial statements by section 10(2) to (4) of the Charities Act 2011.

Moveable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculty for disposal are accounted for as inalienable property unless consecrated. Inalienable property purchased since 1 January 1998 is capitalised and depreciated in line with the depreciation policy. No value has been attached in the financial statements to the property acquired prior to 1 January 1998. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether on maintenance or improvement, is written off as expenditure in the statement of financial activities and separately disclosed.

Other land and buildings

Other land and buildings held on behalf of the PCC for its own purposes are included at cost. They were previously held at market value, but the PCC has taken advantage of the transitional provision in FRS 102 to use previous valuations as at the transition date as deemed cost.

Furniture, fixtures and equipment

Individual items of equipment with a purchase price of less than £2,500 are written off in the period in which the asset is acquired.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of that asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.

Page 16

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation (continued)

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case they are measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and are shown under the heading 'Net gains on investments’ in the statement of financial activities.

2.7 Investment properties

Investment properties are measured initially at cost and subsequently at fair value at the balance sheet date in accordance with FRS 102 and are not depreciated.

2.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.9 Debtors

Amounts owing to the PCC in respect of fees, rents or other income are shown as debtors less provision for any amounts that may prove uncollectable. These are recognised initially at the settlement amount. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash and cash equivalents

Cash at bank and in hand and short term deposits comprise cash and short-term highly liquid investments held with either CBF Church of England funds or the Rochester Diocesan Board of Finance, with a short maturity of three months or less from the date of opening of the deposit or similar account.

Page 17

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the PCC anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

2.12 Financial instruments

The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.13 Pensions

The PCC is a member of a multi-employer plan. Where it is not possible for the PCC to obtain sufficient information to enable it to account for the plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.

The PCC participates in the Pension Builder Scheme section of the Church Workers Pensions Fund (CWPF) for lay staff. The CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the PCC and other participating employers.

The CWPF has two sections:

  1. the 'Defined Benefits Scheme'

  2. the 'Pension Builder Scheme', which has two subsections:

  3. a. a deferred annuity section known as 'Pension Builder Classic'

  4. b. a cash balance section known as 'Pension Builder 2014'.

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes:

Page 18

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.13 Pensions (continued)

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. This is the section relevant to the PCC.

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. The PCC does not currently participate in this section of the Pension Builder Scheme.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs of £6,594 (2021 - £4,265) charged to the statement of financial activities in the year are the contributions payable.

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.

For the Pension Builder Classic section - the section relevant to the PCC - the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The legal structure of the scheme is such that if another employer fails, the PCC could become responsible for paying a share of the failed employer’s pension liabilities.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the PCC in furtherance of the general objectives of the PCC and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the PCC for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the PCC for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 19

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.14 Fund accounting (continued)

Where an endowment is received, the PCC is required to invest the assets, or retain them for use in furtherance of its charitable purposes, rather than apply or spend them as income. A gift of endowment, where there is no power to convert the capital into income, is known as a permanent endowment fund. A permanent endowment fund must normally be held indefinitely. Where the PCC has the power to convert endowment funds into income, such funds are known as expendable endowments. A gift of expendable endowment provides the PCC with a power to convert all or part of it into income. The aim and use of each endowment fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The PCC makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

4. Income from donations and legacies

Unrestricted
funds
2022
£
Donations
Gift-Aided offerings
71,435
Other offerings
19,133
Open plate offerings
1,203
Special appeals
-
Mission Sunday
-
Other donations
1,417
Tax refunds - Gift Aid
18,061
Subtotal
111,249		 Restricted
funds
2022
£
9,540
-
-
4,556
21,698
7,381
5,702
48,877		 Total
funds
2022
£
80,975
19,133
1,203
4,556
21,698
8,798
23,763
160,126		 Total
funds
2021
£
85,466
11,230
735
1,404
15,520
4,915
24,933
144,203

Page 20

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4. Income from donations and legacies (continued)

Unrestricted
funds
2022
£
Legacies
11,039
Grants
2,478
Subtotal
13,517
Total 2022
124,766
Total 2021
104,722		 Restricted
funds
2022
£
-
-
-
48,877
39,481		 Total
funds
2022
£
11,039
2,478
13,517
173,643
144,203		 Total
funds
2021
£
-
-
-
144,203

5. Income from charitable activities

Unrestricted
funds
2022
£
Church hall lettings
17,509
Youth and children's work/events
311
Events
281
Bookstall
20
Baby and toddler group
2,784
Tuesday lunches
5,673
Fees
1,398
Total 2022
27,976
Total 2021
13,440		 Total
funds
2022
£
17,509
311
281
20
2,784
5,673
1,398
27,976
13,440		 Total
funds
2021
£
8,839
-
-
20
498
1,196
2,887
13,440

Page 21

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Investment income

Unrestricted
funds
2022
£
Investment properties - Garage
67,500
- Car park
42,000
- Houses
52,752
Dividends and interest (including any
reclaimed tax)
- Clergy Fund
-
- Capital Fund
4,039
- Pendleton Fund
-
- Other funds
40,050
Total 2022
206,341
Total 2021
185,788		 Restricted
funds
2022
£
-
-
-
21,809
-
82
262
22,153
21,102		 Total
funds
2022
£
67,500
42,000
52,752
21,809
4,039
82
40,312
228,494
206,890		 Total
funds
2021
£
67,500
42,000
38,499
21,091
3,906
3
33,891
206,890

7. Other income

Total 2022
Total 2021		 Unrestricted
funds
2022
£
20
1,067		 Total
funds
2022
£
20
1,067		 Total
funds
2021
£
1,067

The above figures include £nil (2021 - £1,067) received from the Diocese of Rochester in respect of the Curate's housing costs.

Page 22

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

8. Expenditure on raising funds - investment management costs

Unrestricted
funds
2022
£
Garage
-
Houses
10,689
Total 2022
10,689
Total 2021
23,231		 Total
funds
2022
£
-
10,689
10,689
23,231		 Total
funds
2021
£
575
22,656
23,231

9. Analysis of expenditure on charitable activities (including governance costs)

Summary by fund type

Unrestricted
funds
2022
£
Grants payable (Note 11)
21,520
Ministry
84,426
Church running costs
147,837
Facilities manager and 3 Christ Church Road
costs
26,095
Church halls running costs
64,920
Other activities
42,709
Proposed halls redevelopment
-
Support and governance costs
63,152
Total 2022
450,659
Total 2021
328,939		 Restricted
funds
2022
£
41,566
21,891
-
-
-
-
-
-
63,457
61,303		 Total
funds
2022
£
63,086
106,317
147,837
26,095
64,920
42,709
-
63,152
514,116
390,242		 Total
funds
2021
£
54,259
102,624
100,614
22,763
35,108
4,124
17,528
53,222
390,242

Page 23

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Analysis of expenditure on charitable activities (including governance costs) by activity

Grants payable (Note 11)
Ministry
Church running costs
Facilities manager and 3 Christ Church Road
costs
Church halls running costs
Other activities
Proposed halls redevelopment - fees
Support and governance costs
Total 2022
Total 2021		 Direct costs
(including
grants)
2022
Support and
governance
costs
2022
£
£
63,086
-
106,317
-
147,837
-
26,095
-
64,920
-
42,709
-
-
-
-
63,152
450,964
63,152
337,020
53,222		 Total
funds
2022
£
63,086
106,317
147,837
26,095
64,920
42,709
-
63,152
514,116
390,242		 Total
funds
2021
£
54,259
102,624
100,614
22,763
35,108
4,124
17,528
53,222
390,242

Page 24

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Analysis of expenditure on charitable activities (including governance costs) by activity (continued)

Analysis of direct costs

Grants payable (Note 11)
Staff leaving gifts
Diocesan parish share
Diocesan levy on fee income
Pastoral expenses
Clergy houses expenses and
maintenance
Speakers and fees
Vicar's discretionary expenses
Energy and water
Insurance
Organ
Miscellaneous
Repairs and maintenance
Equipment
Choirs
Facilities manager and 3 Christ
Church Road costs
Kitchen and catering costs
Youth and children's work
Events
Baby and toddler group
Tuesday lunches
Proposed halls redevelopment -
fees
Total 2022
Total 2021		 Grants
payable
(Note 11)
2022
£
63,086
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
63,086
54,259		 Ministry
2022
£
-
-
102,077
-
791
3,119
330
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
106,317
102,624		 Church
running
costs
2022
£
-
-
-
-
-
-
-
-
23,566
6,893
1,597
1,053
110,600
3,498
630
-
-
-
-
-
-
-
147,837
100,614		 Facilities
manager
and 3 Christ
Church
Road costs
2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
26,095
-
-
-
-
-
-
26,095
22,763		 Church
halls
running
costs
2022
£
-
-
-
-
-
-
-
-
22,910
3,752
-
6
37,874
-
-
-
378
-
-
-
-
-
64,920
35,108

Page 25

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Analysis of expenditure on charitable activities (including governance costs) by activity (continued)

Analysis of direct costs (continued)

Grants payable (Note 11)
Staff leaving gifts
Diocesan parish share
Diocesan levy on fee income
Pastoral expenses
Clergy houses expenses and
maintenance
Speakers and fees
Vicar's discretionary expenses
Energy and water
Insurance
Organ
Miscellaneous
Repairs and maintenance
Equipment
Choirs
Facilities manager and 3 Christ
Church Road costs
Kitchen and catering costs
Youth and children's work
Events
Baby and toddler group
Tuesday lunches
Proposed halls redevelopment -
fees
Total 2022
Total 2021		 Other
activities
2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
31,248
5,291
1,253
4,917
-
42,709
4,124		 Proposed
halls
redevelop-
ment
2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
17,528		 Total
funds
2022
£
63,086
-
102,077
-
791
3,119
330
-
46,476
10,645
1,597
1,059
148,474
3,498
630
26,095
378
31,248
5,291
1,253
4,917
-
450,964
337,020		 Total
funds
2021
£
51,654
2,605
95,000
1,353
834
5,187
150
100
34,320
9,693
1,906
449
85,322
3,438
515
22,763
79
881
1,517
589
1,137
17,528
337,020

Page 26

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Analysis of expenditure on charitable activities (including governance costs) by activity (continued)

Analysis of support and governance costs

Depreciation
Miscellaneous
Equipment
Administrator/secretarial
Stationery, copying and printing
Telephone, fax and internet
Subscriptions and publications
Travel expenses
Bank charges
Publicity
Governance costs - auditors' remuneration (Note 12)
Total 2022		 Total
funds
2022
£
-
678
2,999
36,062
3,612
1,711
2,060
428
717
732
14,153
63,152		 Total
funds
2021
£
2,670
159
2,482
32,942
677
1,680
2,001
135
610
1,142
8,724
53,222

Total 2022

11. Grants payable

Unrestricted
funds
2022
£
Unrestricted grants
21,520
Missionary and charitable giving
-
Church overseas
- Home missions and other church societies
-
21,520
Staff leaving gifts
-
Total 2022
21,520
Total 2021
15,300		 Restricted
funds
2022
£
-
4,576
36,990
41,566
-
41,566
38,959		 Total
funds
2022
£
21,520
4,576
36,990
63,086
-
63,086
54,259		 Total
funds
2021
£
15,250
1,404
35,000
51,654
2,605
54,259

Page 27

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12. Auditors' remuneration

- Auditors' remuneration comprises audit fees of £6,400 (2021 £5,400), tax and accountancy fees of £7,160 (2021 - £2,700) and payroll services of £593 (2021 - £624).

13. Staff costs and key management personnel

Wages and salaries
Social security costs
Pension contributions		 2022
£
77,987
-
6,594
84,581		 2021
£
49,246
-
4,325
53,571

The PCC members are the key management personnel of the church. Related party transactions are presented in Note 27.

14. Employee numbers

The average number of persons employed by the PCC during the year was as follows:

Facilities management
Administration
Youth and children's work		 2022
No.
1
2
1
4		 2021
No.
1
2
-
3

No employee received remuneration amounting to more than £60,000 in either year.

Page 28

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. Transfers

Unrestricted
Unrestricted		 Unrestricted
Unrestricted		 Unrestricted
Unrestricted
general designated
fund funds
2022 2022
£ £
Property repair funds
Church (35,000) 35,000
Halls (5,000) 5,000
18 Court Downs Road (1,000) 1,000
25 Rectory Road (1,000) 1,000
1 and 2 Christ Church Road (2,000) 2,000
3 Christ Church Road (1,000) 1,000
(45,000) 45,000
Other funds
Legacies Fund (11,038) 11,038
Total 2022 (56,038) 56,038

The transfers to designated property repair funds have been made to meet larger items of expenditure on the relevant properties as they fall due.

16. Tangible fixed assets

Cost
At 1 January and 31 December 2022
Depreciation
At 1 January 2022
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Freehold
property
£
3,268,532
58,532
58,532
3,210,000
3,210,000		 Furniture,
fixtures and
equipment
£
69,831
69,831
69,831
-
-		 Other fixed
assets
£
8,000
8,000
8,000
-
-		 Total
£
3,346,363
136,363
136,363
3,210,000
3,210,000

Page 29

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

17. Investment property

Valuation
At 1 January 2022
Surplus on revaluations
At 31 December 2022
Comprising
Historic cost
Aggregate revaluations to 31 December 2021
2022 revaluations
At 31 December 2022		 Freehold
investment
property
£
2,020,000
60,000
2,080,000
5,467
2,014,533
60,000
2,080,000

Certain of the PCC's residential investment properties were revalued by the PCC with the assistance of knowledgeable finance professionals as at 31 December 2022. No change to the valuations of the commercial properties was felt necessary, based on a consideration of rental yields.

18. Fixed asset investments

Cost or valuation
At 1 January 2022
Additions
Revaluations
At 31 December 2022		 Listed
investments
£
2,325,327
41,387
(270,902)
2,095,812

All listed securities are UK investments.

The historical cost of listed investments held as at 31 December 2022 was £974,212 (2021 - £932,825).

Material investments

The PCC considers investments with a fair value of more than 10% of the total value of investments to be material. These are as follows:

The CBF Church of England Investment Fund - Income Shares 2,030,404 2,301,307

Page 30

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

19. Debtors

Due within one year
Other debtors
Prepayments and accrued income
Income tax recoverable		 2022
£
2,199
53,241
18,513
73,953		 2021
£
450
204,419
4,285
209,154

20. Creditors: amounts falling due within one year

Taxation and social security
Pensions payable
Other creditors
Accruals and deferred income
Accrued grants payable		 2022
£
921
2,111
55,434
26,347
11,665
96,478		 2021
£
509
911
2,472
56,369
15,000
75,261

Included above is deferred income relating to investment property income and church hall lettings income received in advance, which can be analysed as follows:

Deferred income
At 1 January
Resources deferred during the year
Amounts released from previous periods
At 31 December 2022		 2022
£
28,860
966
(28,860)
966		 2021
£
18,588
28,860
(18,588)
28,860

21. Financial instruments

2022 2021
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 2,696,446 2,905,753

Financial assets measured at fair value through income and expenditure comprise fixed asset investments, short-term deposits, and cash at bank and in hand.

Page 31

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds

Statement of funds - current year

Unrestricted
Designated funds
PROPERTY-BASED
Lea Road Car Park
Curate's House
Fund
CASH-BASED
Property Repair
Funds:
- Church
- Halls
- 18 Court Downs
Road
- 25 Rectory Road
- 1 and 2 Christ
Church Road
- 3 Christ Church
Road
Other funds:
- Church Interior
Repair Fund
- Church Lighting
Upgrade Fund
- Church PA/AV
Upgrade Fund
- Thornton Dene
Proceeds Fund
- Legacies Fund
General funds
General Fund
Total unrestricted
funds		 Balance at 1
January
2022
£
400,000
400,000
36,915
73,109
13,160
9,823
8,607
9,367
16,125
15,225
193
1,307,709
306,609
2,596,842
359,426
2,956,268		 Income
£
-
-
183
249
65
49
43
47
213
153
2
34,278
1,940
37,222
321,881
359,103		 Expenditure
£
-
-
(38,594)
(25,360)
-
-
-
-
-
(15,378)
-
-
(6,297)
(85,629)
(375,719)
(461,348)		 Transfers
in/(out)
£
-
-
35,000
5,000
1,000
1,000
2,000
1,000
-
-
-
-
11,038
56,038
(56,038)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
(151,139)
-
(151,139)
(18,120)
(169,259)		 Balance at
31
December
2022
£
400,000
400,000
33,504
52,998
14,225
10,872
10,650
10,414
16,338
-
195
1,190,848
313,290
2,453,334
231,430
2,684,764

Page 32

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Lea Road Car Park reflects the land bounded by Lea Road and Fairfield Road, let under a commercial lease to the London Borough of Bromley, from which income is used to support the general activities of the church.

Curate's House Fund reflects the freehold property at 25 Rectory Road for the provision of accommodation for church workers.

Property Repair Funds represent monies set aside to undertake repairs and maintenance of the functional and investment properties.

Church Interior Repair Fund was established to cover the costs associated with repairs and maintenance of the interior of the church.

Church Lighting Upgrade Fund comprises monies set aside to improve the lighting within the church.

Church PA/AV Upgrade Fund comprises monies set aside to improve the audio-visual/amplification equipment within the church.

Thornton Dene Proceeds Fund represents the proceeds of the sale during 2014 of 5 Thornton Dene, available to support the work and ministry of the church in such ways as the PCC sees fit.

Legacies Fund comprises monies bequeathed to the PCC which have been set aside to be used on specific projects as and when they arise.

Page 33

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Endowment funds
PROPERTY-BASED
Halls and Jubilee
Commemoration Fund
CASH-BASED
Halls and Jubilee
Commemoration Fund
Clergy stipend income
funds:
- Stipend fund
- A Carter Bequest
- E Etheridge Bequest
- F Prior Bequest
- C R Stock Bequest
- L Stock Bequest
- P Townrow Bequest
- A S Watts Bequest
- E M Danson Bequest
- Ministry Fund
Pendleton Books Fund
Hillman Fund - Choirs		 Balance at 1
January
2022
£
4,430,000
32,455
572,502
8,643
18,829
6,395
118,589
500
11,338
24,283
41,912
28,506
6,333
514
5,300,799		 Income
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Expenditure
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Transfers
in/(out)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
60,000
(3,820)
(67,393)
(1,017)
(2,216)
(753)
(13,960)
-
(1,335)
(2,859)
(4,934)
(3,356)
-
-
(41,643)		 Balance at
31
December
2022
£
4,490,000
28,635
505,109
7,626
16,613
5,642
104,629
500
10,003
21,424
36,978
25,150
6,333
514
5,259,156

The property-based Halls and Jubilee Commemoration Fund is a permanent endowment fund representing property donated or acquired comprising the church halls, 1, 2 and 3 Christ Church Road, and the commercial premises at 81-83 High Street, Beckenham.

The cash-based Halls and Jubilee Commemoration Fund is a permanent endowment fund representing cash proceeds from the 2014 sale of a strip of land adjoining 81-83 High Street.

Clergy stipend income funds, including the Ministry Fund and various bequests, reflect historic donations and legacies held as a permanent endowment. The income derived from the underlying investments, to be used to support the cost of providing the clergy stipend, is included in restricted funds.

Pendleton Books Fund reflects an historic donation held as a permanent endowment. The income derived from the underlying investments is to be used to assist with the provision of books for ministry purposes.

Hillman Fund - Choirs reflects an historic legacy to be used towards supporting the choirs and music of the church.

Page 34

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Restricted
funds
Clergy stipend
income funds:
- Stipend Fund
- A Carter
Bequest
- E Etheridge
Bequest
- F Prior Bequest
- C R Stock
Bequest
- L Stock
Bequest
- P Townrow
Bequest
- Ministry Fund
- A S Watts
Bequest
- E M Danson
Bequest
Pendleton Books
Fund
Youth Projects
Fund
Appeals and
Retiring
Offerings
Missionary
Support Fund
Building2Bless
Fund		 Balance at 1
January
2022
£
-
-
-
-
-
-
-
-
-
-
-
6,005
-
6,141
800
12,946		 Income
£
15,023
227
494
168
3,112
3
297
748
637
1,100
82
78
4,556
39,180
5,325
71,030		 Expenditure
£
(15,023)
(227)
(494)
(168)
(3,112)
(3)
(297)
(748)
(637)
(1,100)
(82)
-
(4,576)
(36,990)
-
(63,457)		 Transfers
in/(out)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2022
£
-
-
-
-
-
-
-
-
-
-
-
6,083
(20)
8,331
6,125
20,519

Page 35

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Clergy stipend income funds, including the Ministry Fund and various bequests, reflect income derived from the underlying investments, the intended purpose of which is to support the cost of providing the clergy stipend.

Pendleton Books Fund reflects the income derived from the underlying investments, the intended purpose of which is to assist with the provision of books for ministry purposes.

Youth Projects Fund is available to assist with youth and children's work.

Site Development Fees Fund was established to cover the costs associated with plans to redevelop the site and its buildings.

Appeals and Retiring Offerings represents donations received for onward transmission to specific bursaries or charities.

Missionary Support Fund reflects the support of the church and the congregation for various mission organisations and individuals, working both here in the UK and abroad.


Total funds		 Balance at 1
January
2022
£
8,270,013		 Income
£
430,133		 Expenditure
£
(524,805)		 Transfers
in/(out)
£
-		 Gains/
(Losses)
£
(210,902)		 Balance at
31
December
2022
£
7,964,439

Page 36

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
PROPERTY-BASED
Lea Road Car Park
Curate's House Fund
CASH-BASED
Property Repair
Funds:
- Church
- Halls
- 18 Court Downs
Road
- 25 Rectory Road
- 1 and 2 Christ
Church Road
- 3 Christ Church
Road
Other funds:
- Church Interior
Repair Fund
- Church Lighting
Upgrade Fund
- Church PA/AV
Upgrade Fund
- Thornton Dene
Proceeds Fund
- Legacies Fund
General funds
General Fund
Total unrestricted
funds		 Balance at
1 January
2021
£
400,000
400,000
76,204
69,066
12,139
13,594
7,799
3,361
16,117
15,217
193
1,131,964
308,630
2,454,284
369,188
2,823,472		 Income
£
-
-
94
120
21
21
14
6
8
8
-
32,588
57
32,937
272,080
305,017		 Expenditure
£
-
-
(59,383)
(1,077)
-
(4,792)
(1,206)
-
-
-
-
(17,528)
(2,078)
(86,064)
(266,106)
(352,170)		 Transfers
in/(out)
£
-
-
20,000
5,000
1,000
1,000
2,000
6,000
-
-
-
-
-
35,000
(35,000)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
160,685
-
160,685
19,264
179,949		 Balance at
31
December
2021
£
400,000
400,000
36,915
73,109
13,160
9,823
8,607
9,367
16,125
15,225
193
1,307,709
306,609
2,596,842
359,426
2,956,268

Page 37

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Endowment
funds
PROPERTY-
BASED
Halls and Jubilee
Commemoration
Fund
CASH-BASED
Halls and Jubilee
Commemoration
Fund
Clergy stipend
income funds:
- Stipend fund
- A Carter
Bequest
- E Etheridge
Bequest
- F Prior Bequest
- C R Stock
Bequest
- L Stock
Bequest
- P Townrow
Bequest
- A S Watts
Bequest
- E M Danson
Bequest
- Ministry Fund
Pendleton Books
Fund
Hillman Fund -
Choirs		 Balance at
1 January
2021
£
4,330,000
28,393
500,853
7,561
16,473
5,595
103,747
500
9,919
21,244
36,667
24,938
6,333
514
5,092,737		 Income
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Expenditure
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Transfers
in/(out)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
100,000
4,062
71,649
1,082
2,356
800
14,842
-
1,419
3,039
5,245
3,568
-
-
208,062		 Balance at
31
December
2021
£
4,430,000
32,455
572,502
8,643
18,829
6,395
118,589
500
11,338
24,283
41,912
28,506
6,333
514
5,300,799

Page 38

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Restricted funds
Clergy stipend
income funds:
- Stipend Fund
- A Carter
Bequest
- E Etheridge
Bequest
- F Prior Bequest
- C R Stock
Bequest
- L Stock Bequest
- P Townrow
Bequest
- Ministry Fund
- A S Watts
Bequest
- E M Danson
Bequest
Pendleton Books
Fund
Youth Projects
Fund
Appeals and
Retiring Offerings
Missionary
Support Fund
Staff Leaving
Collection
Building2Bless
Fund
Clergy Stipend
Donation		 Balance at
1 January
2021
£
-
-
-
-
-
-
-
-
-
-
-
6,001
-
7,570
-
95
-
13,666		 Income
£
14,529
219
478
162
3,010
2
288
723
616
1,064
3
4
1,404
33,571
2,555
705
1,250
60,583		 Expenditure
£
(14,529)
(219)
(478)
(162)
(3,010)
(2)
(288)
(723)
(616)
(1,064)
(3)
-
(1,404)
(35,000)
(2,555)
-
(1,250)
(61,303)		 Transfers
in/(out)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2021
£
-
-
-
-
-
-
-
-
-
-
-
6,005
-
6,141
-
800
-
12,946

Page 39

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

22. Statement of funds (continued)

Total funds Balance at
1 January
2021
£
7,929,875		 Income
£
365,600		 Expenditure
£
(413,473)		 Transfers
in/(out)
£
-		 Gains/
(Losses)
£
388,011		 Balance at
31
December
2021
£
8,270,013

23. Summary of funds

Summary of funds - current year

Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at 1
January
2022
£
2,596,842
359,426
5,300,799
12,946
8,270,013		 Income
£
37,222
321,881
-
71,030
430,133
Income
£
32,937
272,080
-
60,583
365,600		 Expenditure
£
(85,629)
(375,719)
-
(63,457)
(524,805)
Expenditure
£
(86,064)
(266,106)
-
(61,303)
(413,473)		 Transfers
in/(out)
£
56,038
(56,038)
-
-
-
Transfers
in/(out)
£
35,000
(35,000)
-
-
-		 Gains/
(Losses)
£
(151,139)
(18,120)
(41,643)
-
(210,902)
Gains/
(Losses)
£
160,685
19,264
208,062
-
388,011		 Balance at
31
December
2022
£
2,453,334
231,430
5,259,156
20,519
7,964,439
Balance at
31
December
2021
£
2,596,842
359,426
5,300,799
12,946
Summary of funds - prior year
Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at
1 January
2021
£
2,454,284
369,188
5,092,737
13,666
7,929,875
8,270,013

Page 40

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

24. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2022
£
Tangible fixed assets
400,000
Fixed asset investments
1,376,714
Investment property
400,000
Current assets
604,528
Creditors due within one year
(96,478)
2,684,764		 Restricted
funds
2022
£
-
-
-
20,519
-
20,519		 Endowment
funds
2022
£
2,810,000
719,098
1,680,000
50,058
-
5,259,156		 Total
funds
2022
£
3,210,000
2,095,812
2,080,000
675,105
(96,478)
7,964,439

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year		 Unrestricted
funds
2021
£
400,000
1,511,265
400,000
719,815
(74,812)
2,956,268		 Restricted
funds
2021
£
-
-
-
13,395
(449)
12,946		 Endowment
funds
2021
£
2,810,000
814,062
1,620,000
56,737
-
5,300,799		 Total
funds
2021
£
3,210,000
2,325,327
2,020,000
789,947
(75,261)
8,270,013

Page 41

DocuSign Envelope ID: 9BC7253F-C362-4066-AE31-4DC803F995DF

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, BECKENHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

25. Pensions

As stated in Note 2.13 the PCC participates in the 'Pension Builder Classic' section of the Pension Builder Scheme ('the Scheme') within the Church Workers Pensions Fund (CWPF) for lay staff. The CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the PCC and other participating employers.

Pension Builder Classic is classed as a defined benefit scheme. However, the Pension Builder Scheme as a whole is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme's assets and liabilities to specific employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The pension costs of £6,594 (2021 - £4,265) charged to the statement of financial activities in the year are contributions payable.

26. Operating lease commitments - lessor

At 31 December 2022 the total of the future minimum lease payments due to the PCC under noncancellable operating leases was as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2022
£
139,150
270,000
354,375
763,525		 2021
£
139,150
301,500
421,875
862,525

27. Related party transactions (including PCC members' remuneration and expenses)

During the year, expenses totalling £4,094 (2021 - £1,839) relating to travel, telephone and miscellaneous expenses were reimbursed to 4 (2021 - 3) PCC members.

During the year, the total amount of donations received without conditions from PCC members and other related parties was £9,252 (2021 - £10,690).

As at the balance sheet date creditors includes £846 (2021 - £1,372) owed to PCC members and other related parties.

Page 42