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← The Parochial Church Council Of The Ecclesiastical Parish Of Christ Church, Beckenham.

2023-12-31-accounts

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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 2023

Auditors

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

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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 - 41

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Parochial Church Council (PCC) presents its annual report and financial statements for the year ended 31 December 2023.

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 2023 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 (Chair)

Other staff: The Rev Nigel Poole (non-stipendary Associate Vicar) (until 31 July 2023) Miss Kirstyn Oliver (Children and Families Minister) (co-opted member) Wardens: Frank Martindale (Vice-Chair) Hilary Walker Licensed Lay Minister: Colin Gale (until 9 April 2023) Deanery Synod Representatives: Gill Boulton (also Interim Treasurer until 6 February 2023) Sarah Poole Diocesan Synod Representative: Sarah Poole Elected members: David Brooks (until 2 May 2023) Tim Cook Peter Dow (until 2 May 2023) Sian Henderson Anne Lancaster Pauline Marke Jonathan Poole Nick Randell (from 2 May 2023) Ruth Salama Derrick Sanyahumbi Mark Wells (until 2 May 2023)

Minute Secretary

Helen Rendell

Treasurer

Sarah Martin (from 6 February 2023)

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

REFERENCE AND ADMINISTRATION INFORMATION (continued)

Bankers

National Westminster 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 up to 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 2023 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 seven times by email.

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENTS AND PERFORMANCE

We moved into 2023 under the motto text of “I’ve told you these things for a purpose: that my joy might be your joy” John 15:11, with the express desire to discover the all surpassing joy of being in a relationship with the Lord Jesus through the Holy Spirit. Joy became the watchword of the year, the foundation of much of our preaching, and the overriding character of life at Christ Church in 2023. That’s not to say that some folk didn’t have to carry more than their fair share of sadness, not at all, but rather that, amid life’s hardships, we tried to keep reminding ourselves that the love of Jesus has the power to gladden a person’s heart.

2023 saw the beginning of ‘Encounter’, a monthly worship gathering for those with special educational needs. Under the excellent leadership of Kirstyn Oliver, our Children and Families Minister, this gathering has attracted families and individuals from outside our regular congregations and continued to grow in confidence throughout the year, with the commitment of a large and enthusiastic team of helpers. Our regular Sunday morning services maintained the pattern of previous years, with the evening service dropping to once a month from last September.

We have seen a steady and sustained growth in our congregation at the 11 O’Clock Service, and while people’s patterns of regular attendance may have changed, our membership has remained committed to the fellowship at Christ Church. It has been great to welcome new families, individuals, and couples to CCB and to see a greater diversity in every sense.

We are grateful for the contribution of all those who have led worship, preached, played, read, prayed, sung,

and controlled our AV equipment.

Sunday has continued to be the time when our children and young people come to worship and enjoy fellowship. With our youngest to mid-teens meeting in the morning for CCB:Kids and Pathfinders, and our older teenagers meeting at “The Junction” in the evening. Numbers fluctuate throughout each month but remain a cause for thanksgiving. The Junction has, at times, peaked at over 18 on a Sunday night. We should all express our thanks for the ministry offered to our children by our many faithful helpers.

2023 was another year of renovation and replacement to parts of our property and these will be detailed below. However, worthy of special note, is the replacement of the whole of the South Nave copper roof. This was an enormous undertaking at an enormous cost, and we thank God that our insurance company were prepared to foot the bill. For a brief period, the new copper roof shone like the sun, sadly, we now have a dull brown roof and must wait fifteen years until it turns back to the characteristic Christ Church green.

Discussions took place about how we might encourage our life groups, with the result being an Alpha Course in the Autumn aimed squarely at the congregation. The hope was that we would refresh and reawaken a spiritual fervour and excitement in the life-changing work and ministry of the Holy Spirit. Preparations began in June and July with well attended regular praise and praise gatherings. By the time the Alpha course began in September, 63 people had signed up, with 50 seeing the course through to its climactic end. Several Life groups welcomed new members as a result and one new group formed. This takes our number of people in a Life group to over 80. Thanks be to God. Additional groups will be encouraged in 2024.

The management and administration of a church as big, as busy, and as financially blessed as CCB is not a small task and the leadership team has worked tirelessly to ensure that everything has operated and functioned as it should. In July, our Associate Vicar retired.

In almost every area of the church, joy and thankfulness was palpable and we continue to be thankful for how the Lord challenged, changed, and cherished us throughout the year. We ended 2023 a very different church to how we began.

Electoral Roll: There were 192 on the Electoral Roll at 1 January 2023 and 177 at 31 December 2023.

Major matters of Council business in 2023

The Vision and Needs for 2023 were discussed at PCC meetings. At the first meeting of the new Council in 2023 officers of the PCC were appointed.

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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

We continued the pattern of a standard agenda at each meeting including a Safeguarding Report.

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 2023 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: Our staff team and leadership team work together in joyful unity. We are pleased to say that we are a fellowship that looks after each other and seeks to serve Christ and the church as members of one body comprised of many parts with differing but complementary gifts. The only change has been the retirement of our Associate Vicar.

Deanery Synod Report:

Christ Church is entitled to three elected members of the Deanery Synod, but we have only two as well as the Vicar. There have been three meetings during the past year. The first one was in March 2023, when we had a presentation by Rev Jessica Smith speaking about the church in the pandemic.

The next one took place in September 2023, this was the first meeting of the new triennium and after the official business when the Lay Chair and the Standing Committee was elected there was a social gathering to welcome everyone. Sarah Poole was re-elected as the Lay Chair.

The next meeting was in November when there was a presentation by Rev Nigel Poole about Hope into Action, which is a Christian charity dedicated to providing supported housing through the local church to homeless people. This was very informative and well received. General business was also reported on at every meeting.

Diocesan Synod Report:

Sarah Poole is the Lay Chair of the Diocesan Synod. There were three meetings in 2023. All meetings start with a time of worship and the Presidential address from the Bishop and also have reports on safeguarding and the General Synod.

The meeting in March heard about The Environment and Sustainability , the Children & Young People’s Fund and Generous Giving during the Cost of Living Crisis . June’s meeting had presentations on Young People and Vocations and The Annual Report and Accounts . November’s meeting had presentations on the DBF Budget, Strategy & Vison Update , and The Environment and Sustainability .

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Every meeting now includes ‘Sharing Good News across the Diocese’ which is presented in turn by each Archdeacon.

Fabric, Goods and Ornaments of the Church

In addition to the regular responsive, planned, and cyclical repairs and maintenance to the church plant, including the required statutory inspections and checks, the following significant projects were undertaken during 2023:

The PCC continues to ensure there are sufficient funds to enable urgent and programmed works to be carried out.

FUTURE PLANS

FINANCIAL REVIEW

The Statement of Financial Activities details a surplus of income over expenditure of £32,072 (2022 – a deficit of income over expenditure of £94,672) before unrealised gains/(losses) on investments. This sum is after inclusion of £36,132 (2022 - £34,278) 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 £2,047 (1.84%).

We are fortunate to have continued to receive significant income from our property and savings investments which totalled £243,641 (2022 - £228,494).

Congregational Missionary Giving to the restricted Missionary Support Fund, including Gift Aid arising, decreased by £5,195 (13.30%).

Unrestricted expenditure totalled £336,847, a decrease of £124,501 from the 2022 total of £461,348. Within each total are amounts withdrawn from specific designated funds: the 2023 figure includes £nil (2022 - £79,332) towards the repair and maintenance of our properties and £nil (2022 - £6,297) towards the Parish Offer. Adjusted for these withdrawals, the unrestricted general expenditure for the year was £336,847 (2022 - £375,719).

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 an increase in our invested funds for the year of £191,028 (8.96%).

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023 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.

In 2023, unrestricted grants also includes an amount of £5,000 in respect of grants for 2022 not previously accrued.

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 2023 figures, this is £84,212. At 31 December 2023 liquid unrestricted general reserves totalled £213,224, which both provides for a modest budget surplus for 2024 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.

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.

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

This report was approved by the PCC on 15 April 2024 and signed on its behalf by:

…………………………......................

The Rev R Hinton, Chairman

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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 2023 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: D93A0391-2952-4B96-8104-F2DA3281D790

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: D93A0391-2952-4B96-8104-F2DA3281D790

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: D93A0391-2952-4B96-8104-F2DA3281D790

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

17 April 2024

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: D93A0391-2952-4B96-8104-F2DA3281D790

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

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

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
income/(expenditure)
before net
gains/(losses) on
investments
Net gains/(losses) on
investments
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2023
£
113,296
31,404
220,845
-
365,545
11,159
325,688
336,847
28,698
119,354
148,052
2,684,764
148,052
2,832,816		 Restricted
funds
2023
£
41,317
-
22,796
-
64,113
-
60,739
60,739
3,374
-
3,374
20,519
3,374
23,893		 Endowment
funds
2023
£
-
-
-
-
-
-
-
-
-
71,674
71,674
5,259,156
71,674
5,330,830		 Total
funds
2023
£
154,613
31,404
243,641
-
429,658
11,159
386,427
397,586
32,072
191,028
223,100
7,964,439
223,100
8,187,539		 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

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

The notes on pages 14 to 41 form part of these financial statements.

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
Fixed assets
Tangible assets
15
Investment property
16
Investments
17
Current assets
Stocks
Debtors
18
Short-term deposits
Cash at bank and in hand
Creditors: amounts falling due within one
year
19
Net current assets
Total net assets
Charity funds
Endowment funds
21
Restricted funds
21
Unrestricted funds
21
Total funds		 406
32,423
493,781
101,686
628,296
(64,556)		 2023
£
3,220,828
2,080,000
2,322,971
7,623,799
563,740
8,187,539
5,330,830
23,893
2,832,816
8,187,539		 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

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

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

The Rev R Hinton Chairman Date: 15 April 2024

The notes on pages 14 to 41 form part of these financial statements.

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Page 14

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.3 Income (continued)

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 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: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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:

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.

Page 18

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.13 Pensions (continued)

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 £8,003 (2022 - £6,594) 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.

For the Pension Builder Classic section - the section relevant to the PCC - the 2019 valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, effective 1 January 2024, the Board chose to grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior to April 1997, and a bonus on pensions in payment in respect of post-April 2006 service so that the pension increase was 5% (where usually it would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2023. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the 2019 valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

The next valuation is due as at 31 December 2022. Calculations for this are currently underway.

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.

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.

Page 19

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
2023
£
Donations
Gift-Aided offerings
71,688
Other offerings
14,070
Open plate offerings
4,846
Special appeals
-
Mission Sunday
-
Other donations
2,482
Tax refunds - Gift Aid
20,210
Subtotal
113,296
Legacies
-
Grants
-
Subtotal
-
Total 2023
113,296
Total 2022
124,766		 Restricted
funds
2023
£
9,470
1,465
-
1,651
16,907
790
6,034
36,317
5,000
-
5,000
41,317
48,877		 Total
funds
2023
£
81,158
15,535
4,846
1,651
16,907
3,272
26,244
149,613
5,000
-
5,000
154,613
173,643		 Total
funds
2022
£
80,975
19,133
1,203
4,556
21,698
8,798
23,763
160,126
11,039
2,478
13,517
173,643

Page 20

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Income from charitable activities

Unrestricted
funds
2023
£
Church hall lettings
19,645
Youth and children's work/events
430
Events
1,148
Bookstall
-
Baby and toddler group
2,279
Tuesday lunches
6,863
Fees
1,039
Total 2023
31,404
Total 2022
27,976		 Total
funds
2023
£
19,645
430
1,148
-
2,279
6,863
1,039
31,404
27,976		 Total
funds
2022
£
17,509
311
281
20
2,784
5,673
1,398
27,976

6. Investment income

Unrestricted
funds
2023
£
Investment properties - Garage
67,500
- Car park
42,000
- Houses
50,757
Dividends and interest (including any
reclaimed tax)
- Clergy Fund
-
- Capital Fund
4,061
- Pendleton Fund
-
- Other funds
56,527
Total 2023
220,845
Total 2022
206,341		 Restricted
funds
2023
£
-
-
-
21,944
-
286
566
22,796
22,153		 Total
funds
2023
£
67,500
42,000
50,757
21,944
4,061
286
57,093
243,641
228,494		 Total
funds
2022
£
67,500
42,000
52,752
21,809
4,039
82
40,312
228,494

Page 21

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7.
Other income
Unrestricted
funds
2023
£
Miscellaneous
-
Total 2022
20
8.
Expenditure on raising funds - investment management costs
Unrestricted
funds
2023
£
Garage
(258)
Houses
11,417
Total 2023
11,159
Total 2022
10,689		 Total
funds
2023
£
-
20
Total
funds
2023
£
(258)
11,417
11,159
10,689		 Total
funds
2022
£
20
Total
funds
2022
£
-
10,689
10,689

Page 22

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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

Summary by fund type

Unrestricted
funds
2023
£
Grants payable (Note 11)
21,198
Ministry
71,827
Church running costs
55,309
Facilities manager and 3 Christ Church Road
costs
29,298
Church halls running costs
26,257
Other activities
45,822
Proposed halls redevelopment
7,007
Support and governance costs
68,970
Total 2023
325,688
Total 2022
450,659		 Restricted
funds
2023
£
37,395
21,944
-
-
-
200
1,200
-
60,739
63,457		 Total
funds
2023
£
58,593
93,771
55,309
29,298
26,257
46,022
8,207
68,970
386,427
514,116		 Total
funds
2022
£
63,086
106,317
147,837
26,095
64,920
42,709
-
63,152
514,116

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 2023
Total 2022		 Direct costs
(including
grants)
2023
Support and
governance
costs
2023
£
£
58,593
-
93,771
-
55,309
-
29,298
-
26,257
-
46,022
-
8,207
-
-
68,970
317,457
68,970
450,964
63,152		 Total
funds
2023
£
58,593
93,771
55,309
29,298
26,257
46,022
8,207
68,970
386,427
514,116		 Total
funds
2022
£
63,086
106,317
147,837
26,095
64,920
42,709
-
63,152
514,116

Page 23

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
Depreciation
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
Total 2023
Total 2022		 Grants
payable
(Note 11)
2023
£
57,503
1,090
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
58,593
63,086		 Ministry
2023
£
-
-
88,000
627
581
4,388
-
175
-
-
-
-
-
-
-
-
-
-
-
-
-
-
93,771
106,317		 Church
running
costs
2023
£
-
-
-
-
-
-
-
-
1,134
5,577
2,662
857
-
41,060
1,053
2,966
-
-
-
-
-
-
55,309
147,837		 Facilities
manager
and 3 Christ
Church
Road costs
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
29,298
-
-
-
-
-
29,298
26,095		 Church
halls
running
costs
2023
£
-
-
-
-
-
-
-
-
-
8,763
2,864
-
-
9,921
-
-
-
4,709
-
-
-
-
26,257
64,920

Page 24

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
Depreciation
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 2023
Total 2022		 Other
activities
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
36,368
2,260
869
6,525
-
46,022
42,709		 Proposed
halls
redevelop-
ment
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8,207
8,207
-		 Total
funds
2023
£
57,503
1,090
88,000
627
581
4,388
-
175
1,134
14,340
5,526
857
-
50,981
1,053
2,966
29,298
4,709
36,368
2,260
869
6,525
8,207
317,457
450,964		 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

Page 25

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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

Analysis of support and governance costs

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 2023		 Total
funds
2023
£
1,594
3,893
38,388
2,353
2,391
1,560
371
1,142
132
17,146
68,970		 Total
funds
2022
£
678
2,999
36,062
3,612
1,711
2,060
428
717
732
14,153
63,152

11. Grants payable

Unrestricted
funds
2023
£
Unrestricted grants
20,698
Missionary and charitable giving
-
Church overseas
- Home missions and other church societies
-
20,698
Staff leaving gifts
500
Total 2023
21,198
Total 2022
21,520		 Restricted
funds
2023
£
-
1,816
34,989
36,805
590
37,395
41,566		 Total
funds
2023
£
20,698
1,816
34,989
57,503
1,090
58,593
63,086		 Total
funds
2022
£
21,520
4,576
36,990
63,086
-
63,086

Page 26

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

12. Auditors' remuneration

- Auditors' remuneration comprises audit fees of £9,360 (2022 £6,400), tax and accountancy fees of £6,780 (2022 - £7,160) and payroll services of £1,006 (2022 - £593).

13. Staff costs and key management personnel

Wages and salaries
Social security costs
Pension contributions		 2023
£
84,396
1,386
8,003
93,785		 2022
£
77,987
-
6,594
84,581

The PCC members are the key management personnel of the church. Related party transactions are presented in Note 26.

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		 2023
No.
1
2
1
4		 2022
No.
1
2
1
4

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

Page 27

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Tangible fixed assets

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
16.
Investment property
Valuation
At 1 January 2023
At 31 December 2023
Comprising
Historic cost
Aggregate revaluations to 31 December 2022
At 31 December 2023		 Freehold
property
£
3,268,532
-
3,268,532
58,532
-
58,532
3,210,000
3,210,000		 Furniture,
fixtures and
equipment
£
69,831
11,962
81,793
69,831
1,134
70,965
10,828
-		 Other fixed
assets
£
8,000
-
8,000
8,000
-
8,000
-
-		 Total
£
3,346,363
11,962
3,358,325
136,363
1,134
137,497
3,220,828
3,210,000
Freehold
£
2,080,000
2,080,000
5,467
2,074,533
2,080,000

No change to the valuations of certain of the PCC's residential investment properties was felt necessary, based on a review of local property prices. No change to the valuations of the commercial properties was felt necessary, based on a consideration of rental yields.

Page 28

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

17. Fixed asset investments

Cost or valuation
At 1 January 2023
Additions
Revaluations
At 31 December 2023		 Listed
investments
£
2,095,812
36,131
191,028
2,322,971

All listed securities are UK investments.

The historical cost of listed investments held as at 31 December 2023 was £1,010,344 (2022 - £974,212).

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
Debtors
Due within one year
Other debtors
Prepayments and accrued income
Income tax recoverable		 2,221,432
2023
£
1,231
6,389
24,803
32,423		 2,030,404
2022
£
2,199
53,241
18,513
73,953

18. Debtors

Page 29

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

19. Creditors: amounts falling due within one year

Taxation and social security
Pensions payable
Other creditors
Accruals and deferred income
Accrued grants payable		 2023
£
-
592
6,482
50,817
6,665
64,556		 2022
£
921
2,111
55,434
26,347
11,665
96,478

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 2023		 2023
£
966
18,433
(966)
18,433		 2022
£
28,860
966
(28,860)
966

20. Financial instruments

2023 2022
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 2,918,438 2,696,446

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 30

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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 PA/AV
Upgrade Fund
- Thornton Dene
Proceeds Fund
- Legacies Fund
General funds
General Fund
Total unrestricted
funds		 Balance at 1
January
2023
£
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		 Income
£
-
-
781
1,528
410
313
307
300
450
5
36,132
8,627
48,853
316,692
365,545		 Expenditure
£
-
-
-
-
-
-
-
-
-
-
-
-
-
(336,847)
(336,847)		 Transfers
in/(out)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
106,577
-
106,577
12,777
119,354		 Balance at
31
December
2023
£
400,000
400,000
34,285
54,526
14,635
11,185
10,957
10,714
16,788
200
1,333,557
321,917
2,608,764
224,052
2,832,816

Page 31

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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 32

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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
2023
£
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		 Income
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Expenditure
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Transfers
in/(out)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
-
2,694
47,523
717
1,563
531
9,844
-
941
2,016
3,479
2,366
-
-
71,674		 Balance at
31
December
2023
£
4,490,000
31,329
552,632
8,343
18,176
6,173
114,473
500
10,944
23,440
40,457
27,516
6,333
514
5,330,830

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 33

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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
Site
Development
Fees Fund
Appeals and
Retiring
Offerings
Missionary
Support Fund
Staff Leaving
Collection
Building2Bless
Main Hall Carpet
Fund
Lunches Fund		 Balance at 1
January
2023
£
-
-
-
-
-
-
-
-
-
-
-
6,083
(20)
-
8,331
-
6,125
-
-
20,519		 Income
£
15,106
228
497
169
3,129
17
299
752
641
1,106
286
168
-
1,651
34,105
590
169
5,000
200
64,113		 Expenditure
£
(15,106)
(228)
(497)
(169)
(3,129)
(17)
(299)
(752)
(641)
(1,106)
-
-
-
(1,816)
(34,989)
(590)
(1,200)
-
(200)
(60,739)		 Transfers
in/(out)
£
-
-
-
-
-
-
-
-
-
-
-
-
20
-
-
-
(20)
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2023
£
-
-
-
-
-
-
-
-
-
-
286
6,251
-
(165)
7,447
-
5,074
5,000
-
23,893

Page 34

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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.

Building2Bless is a fund established to cover the costs associated with plans to redevelop the church halls complex.

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
2023
£
7,964,439		 Income
£
429,658		 Expenditure
£
(397,586)		 Transfers
in/(out)
£
-		 Gains/
(Losses)
£
191,028		 Balance at
31
December
2023
£
8,187,539

Page 35

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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
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 36

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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

Page 37

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. 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		 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 38

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

21. Statement of funds (continued)

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

22. Summary of funds

Summary of funds - current year

Designated
funds
General funds
Endowment
funds
Restricted funds		 Balance at 1
January
2023
£
2,453,334
231,430
5,259,156
20,519
7,964,439		 Income
£
48,853
316,692
-
64,113
429,658
Income
£
37,222
321,881
-
71,030
430,133		 Expenditure
£
-
(336,847)
-
(60,739)
(397,586)
Expenditure
£
(85,629)
(375,719)
-
(63,457)
(524,805)		 Transfers
in/(out)
£
-
-
-
-
-
Transfers
in/(out)
£
56,038
(56,038)
-
-
-		 Gains/
(Losses)
£
106,577
12,777
71,674
-
191,028
Gains/
(Losses)
£
(151,139)
(18,120)
(41,643)
-
(210,902)		 Balance at
31
December
2023
£
2,608,764
224,052
5,330,830
23,893
8,187,539
Balance at
31
December
2022
£
2,453,334
231,430
5,259,156
20,519
Summary of funds - prior 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
7,964,439

Page 39

DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

23. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
410,828
Fixed asset investments
1,536,909
Investment property
400,000
Current assets
549,635
Creditors due within one year
(64,556)
2,832,816		 Restricted
funds
2023
£
-
-
-
23,893
-
23,893		 Endowment
funds
2023
£
2,810,000
786,062
1,680,000
54,768
-
5,330,830		 Total
funds
2023
£
3,220,828
2,322,971
2,080,000
628,296
(64,556)
8,187,539

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
2022
£
400,000
1,376,714
400,000
604,528
(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

24. 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 £8,003 (2022 - £6,594) charged to the statement of financial activities in the year are contributions payable.

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DocuSign Envelope ID: D93A0391-2952-4B96-8104-F2DA3281D790

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

25. Operating lease commitments - lessor

At 31 December 2023 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		 2023
£
84,150
270,000
286,875
641,025		 2022
£
139,150
270,000
354,375
763,525

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

During the year, expenses totalling £7,522 (2022 - £4,094) relating to travel, telephone and miscellaneous expenses were reimbursed to 6 (2022 - 4) PCC members.

During the year, the total amount of donations received without conditions from PCC members and other related parties was £12,785 (2022 - £9,252).

As at the balance sheet date creditors includes £nil (2022 - £846) owed to PCC members and other related parties.

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