## **ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL OF CHRIST CHURCH AND ST JOHN THE DIVINE, NEW MALDEN FOR THE YEAR ENDED 31[st] DECEMBER 2020** ## Background 1. This report is produced in compliance with the Church Accounting Regulations 2006. 2. The Parochial Church Council, along with other PCCs with income in excess of £100,000, registered as a charity with the Commission during 2009 (Registered Charity No. 1134966). 3. The Parochial Church Council is required, as stated in the Parochial Church Councils (Powers) Measure 1956, to co-operate with the minister in promoting in the parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. - When planning our activities for the year, the incumbent and the PCC have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through: - Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus Christ. Provision of pastoral care for people living in the parish. Missionary and outreach work. ## Location and Address for Correspondence 4. The address of Christ Church, and of the Parish Office, is: - - 91 Coombe Road, New Malden, Surrey, KT3 4RE Telephone no: 020 8942 0915 e-mail: parishadmin@ccnm.org 5. The address of St John the Divine is: - Kingston Road, New Malden, Surrey, KT3 3RX - Bankers and advisers 6. Bankers CAF Bank Limited - Independent Examiner Tudor John LLP Insurers Ecclesiastical Insurance Group plc, Trintas Church Insurance & AXA ## Membership of the Parochial Church Council 7. The following served as members of the Parochial Church Council during the year: - ||**Christ Church**|**St John’s**| |---|---|---| |**Clergy**|Revd. Stephen Kuhrt|Revd. Eils Osgood| |**Churchwardens**|Jon Cook
Diana Elsdon (until 20/9/20)
David Loffman(from 20/9/20)|| |**District Wardens**||David Greenfield
Linda Kelley| |**Deanery Synod**|Elspeth Coke
John Henson
Diana Elsdon (until 20/9/20)
David Loffman
Katy Loffman
Harriet Morgan
Mike Sainsbury (until 20/9/20)|Martin Churms (until
20/9/20)
Keith Keen
Mac McCarthy| |**Laity**|(full year)
Rebecca Berry
MayCho|(full year)
Christine Keen
Dave Pamplilon| 1 |||Tim Davis
Anna Edwards
David Geer
Barbara Griffiths
Ruth Henson
Anne Ledgerwood
Andrew Mills
Becky Mills
Robert Shrimpton
Chaweevan Williams (Treasurer)
Until 20/9/20:
Ian Bond
Carrie Ebsworth
Nicola Gough
From 20/9/20:
Carol Baker
Simon Broomfield
Jane Davis|Penny Welsh
Martin Churms (from
20/9/20)| |---|---|---|---| 8. In late March services in church were suspended because of the pandemic restrictions. Online services were held for both Christ Church and St John’s for the rest of the year, with a small service in Christ Church during some of the autumn months. ## Organisation of the Parochial Church Council 9. Full meetings of the Parochial Church Council are usually held seven times per year. St John’s is served by its own District Church Council and the St John’s Standing Committee. **St John’s District Church Council** has wide powers over St John’s matters under the PCC. **St John’s Standing Committee** has powers devolved from the St John’s District Church Council. Certain aspects of the PCC’s work are delegated, in the first instance to sub-committees, membership of which may include co-opted members of the church who are not members of the PCC. These subcommittees, however, report to the PCC. Their functions are as follows: **PCC Standing Committee** can, if necessary, conduct urgent business of the Parochial Church Council between normal PCC meetings and any other business which the PCC so decides, reporting to the next PCC meeting. The Standing Committee now meets bi-monthly (between PCCs) as part of a larger Leadership Team. It currently includes within its remit, the roles previous performed by the Finance and Fabric Committee. The finance role includes assisting the Treasurer in the formulation of the Christ Church Budget and Annual Accounts, the monitoring of income and expenditure plus advising the appropriate means of funding special items of expenditure and other non-budgeted items. The fabric role includes supervision of the care, maintenance and preservation of the fabric, goods and ornaments of the various Christ Church properties and recommends to the PCC appropriate repair, maintenance or improvements. **Christ Church Global Mission Group** formulates missionary policy proposals for presentation to the PCC and implements decisions made by them. It challenges and encourages Church members to fulfil our God-given responsibilities to global mission. **Christ Church F.U.N. Committee** organises social events throughout the year. 2 ## Assessment of Risks 10. The PCC is aware of its responsibilities for assessing its risks and is satisfied that the major risks have been assessed by its sub-committees. The risks assessed were:- i) **Property fire or theft.** Insurance cover is maintained against both these risks. The principal policies contain excesses in the amount of £100. ii) **Misappropriation of funds.** The budgeted expenditure for each year is approved by the full PCC. The PCC reviews expenditure against budgets and ensures there is a basic segregation of duties to guard against the potential for the misappropriation of funds. The amounts of cash held at any one time are not material to the Parish. At St John’s, two signatories are required for any cheque in excess of £400 and all electronic payments. All matters involving expenditure in excess of £2,000, approved by St John’s DCC are put to the full PCC. At Christ Church, expenditure replacing existing items like-for-like up to £3,000 can be approved by the Standing Committee. New expenditure above £500 is put to the PCC. All payments are made electronically and require dual-authorisation. The only exception is for bank payment cards where only a single authorisation is possible. Any such payments above £500 will have been agreed in advance. iii) **Allegations of inappropriate behaviour** against persons acting on behalf of the Parish. All employees are subject to careful recruitment screening. The Parish subscribes to the Diocesan scheme for screening all those involved in children’s work. Guidance is given so that activities are structured in a way that minimises the potential for allegations to arise. The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). ## Proceedings of the Parochial Church Council during the Year 11. Some of the principal matters considered by the Parochial Church Council during the year were as follows: - - a) Provision of online services during the coronavirus pandemic - b) Expenditure to upgrade the audio-visual systems in the church and lounge - c) Remedial works on the new heating system - d) Remedial works on the acoustics in the new hall - e) Future use of the house at 12 Rosebery Avenue to house the Youth Minister Further matters are detailed in the accompanying PCC Report which is published alongside the Fabric, Global Mission Group, Electoral Roll and Deanery Synod Reports. 3 12 Results for the year The church has a policy of retaining unrestricted funds equivalent to two to three months’ worth of normal expenditure. There is an increase of planned giving includes other income of £39,668 compared to last year, mainly due to a few members have increased their giving and grants received during COVID by St John’s. The majority of income to the unrestricted funds came from voluntary giving including tax reclaimed and legacies (£290,322). The next largest source of income came from church activities (£39,004) which includes lettings and rental of church property. Total 2020 unrestricted expenditure(£387,603), the largest item of expenditure from the unrestricted funds was the parish share payment to the diocese (£139,250), with other significant amounts in relation to staff salaries and expenses (£99,997) and property costs (£78,670) including major property repair. During 2020 a large addition to Fixtures & Fitting and Equipment cost of £142,675 (see Accountsnote 5 Fixed Assets). **The PCC wishes to acknowledge, with heartfelt thanks, all the many hours of time and effort that are given by so many parishioners in so many ways that contribute to the life and well-being of the church and its mission both in the parish and beyond.** **Approved by the Parochial Church Council on 28[th] April 2021 and signed on its behalf by:** _**Jon Cook, Churchwarden**_ 4 CHRlSt CHURCH NEVI MALOEN Johns The Parish of New Malden & Coombe, Christ Church and St John's Registered Charity No. 1134966 Financial Statements For the year ended 31 St December 2020 Independent Examlner's Report to The Parochlal Church Council of Chrf$t Church and St John's the Dlvln• Forth•ye8r ended 31$1 D¢¢emb¢r2020 Independent ExamIn0￿8 Raport l Teporl lo Ihe Pèrothl81 Church Coundl on rry 8¥amlnattr)n ¢llhe o¢o)unEs ol P8rJsh gf ¢hrtst Churcth and Sl John th• Dh4ne for Ihe y￿r and￿ 31 DJuFrt*r202 Responslbllfties and baglg of report As Ihe ch4dty truslees of Twsl you Art ¥èsponsdlts lorth8 pr¢wratlon ofthts accounts In aCf¥)rdan¢e wlli tho requirements of tho Chaiili85 2011 I'th? Ad'l. l rnport in r¢3pect of rrry examh8tioTr of the Tru8t'g rnrrJ•d out Jjrider 8ed*)n 145 of A¢t In urrwn9 Oljt my •¥wumallon I ha￿ foltrè*d al appICab￿ DwècttDAs 4fveA bythtr Charfty CorNri$8w uThl•rsed5on 145($)Ib} tsflhe Acl. Independent examlnevs 8talorn8nt Slne* ythjr ehariW5 gfojs income exceeded £250,000 yovr eXa￿￿ner musl b¢ a Trtomberol a Nsl¢d body. I rAn ¢onkn Ihol l am gudifi¢d to uftdeA•ke lh• exarrinotlon because l am 8 regist8red rnomb•rof ICAEWwhlch one ol the h'st•d bodies. I havÈ ￿Mple1¢d my exaThln•lJon. I confTh that no mat*1 matter5 h￿fr com* k) my Btt8nkn In t￿Me(￿Ort wlth V)a ey8rnin81ion givthg fne LW#S io beleve Ih81 Sn 8ry m3ieri81 rn5pec* a¢counUng remrds %stre nLI kepl In fe8P¢Ct of the TnJ81 as imulred by gectlon 130 of ih• Aci,. ot ttJ8 ac¢ouDE$ do not #crA)rdvAth thoso r¢c4rds,' thè acwjnts do not compty vAlh Iha appk¢8ble requ1rom￿th wncornin9 Ihe lorn ￿nI￿ni ol accounts Sat out ￿ the Charltle$ IAet4)unts gnd R￿p(￿l R6guLqtlons 2008 0th8Tlh•n Èny req￿￿ementIhO1th• accounls g￿e • true and fak view vjhlch Is [￿1 • mattercon￿d8reJ •s pprt of#n IrKjw￿enI •xanVJnat*&n. I hove no eoncems and ha¥e ¢omo across no other molters in eA)nnecalon Wth Ihe examwtr8tion to 8h)ulJ b¢ lIra￿ In thls report kn orderlo enab￿ 8 pmpor undmlanding of Ihe a¢￿￿nIS to rea¢hed. azd Day FCA DthA ICAEW Tuijor John LlmSt NlghtlnBal* Hovse 4fp48 Str￿1 Eyom Surrey KT17 1HQ Dat•: 174kn The Parish of New Malden and Coombe, Christ Church and St. John, Statement of Flnan¢lal Actlvltles CHRlSt CHURCH For the year ended 3151 December 2020 Unrestri¢t•d Funds Rostricted Furbds Total Funds 2020 2019 INCOME FROM Voluntary Inwme and Other income 21a) 290.322 57,546 347,868 310.200 Gain on the disposal ol assets 21bl 905.900 Ineomè Irom investments 21cl 3,700 3,706 3.689 Church activities 21dl 39,004 156 39,159 51,924 TOTAL INCOME £ 333 02S £ 57708 390.733 £ 1,271,713 EXPENDITURE ON Church Aclivilie$ 31al 387.603 34.629 422.231 517,503 TOTAL EXPENDITURE £ 387 603 £ 34629 422,231 517503 NET INCOME IEXPENDITUREI {54,577) 23,079 131,4991 754,210 Transfers between Funds 487 14871 NET MOVEMENT IN FUNDS (54.0901 22,592 131,4991 754,210 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 1,013.591 47.008 1,060,599 306,389 TOTAL FUNDS CARRIED FORWARD £ 959 502 £ 89600 £ 1,029,101 £ 1,060.599 A detailed analysis of 2019 SOFA is included on the following pag8. The Parish of Néw Malden and Coombe, Christ Church and St. John's Ststement of Flnancial Activitiès CHRlSt For the year ended 31* December 2019 Unrestricted Funds Restri¢ted Funds Total Funds Note 2019 2018 INCOME FROM Voluntary Income and Other income 21al 271,072 39,128 310,200 459.004 Gain on the disposal of assets 2{bl 905,900 905,900 Income from investments 21c} 3,675 14 3,689 360 Church 8clivilies 21dl 51,924 51.924 48,380 TOTAL INCOME £ 1 232,571 £ 39142 £ 1271.713 507,744 EXPENDITURE ON Church Activities 31al 432.085 85,418 517,503 507,440 TOTAL EXPENDITURE £ 432,085 £ 85,418 517.503 507,440 NET INCOME IEXPENDITUREI 800,486 146,276} 754,210 304 Transfers be￿een Funds 12,000) 2.000 NET MOVEMENT IN FUNDS 798,486 144,276) 754,210 304 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 215,105 91,284 306,389 306,086 TOTAL FUNDS CARRIED FORWARD £ 1,013,591 £ 47,008 £ 1,060.599 306,390 A detailed analysis of 2018 SOFA is included on the following page. The Parlsh of NewM4lden and Coornbè. Chrl¥t Church and St. John's Balanc* Sheet NRISt eMURCN As ai 31* C*cember 202Q 2020 2019 FIXEO ASSETS Tangible asseis 262.683 148.696 CURRENT ASSETS Debtors Short torm deposit- CCLA Cash al bonk and In hand 38.901 781,827 108,946 24.283 888.211 174.396 929,674 1.088.890 LIA81LITIES. AMOUNTS FALLING DUE ¥MfHIN ONE YEAR 32.689 44,421 NETCURRENT ASSETS 896.984 1.042.469 TOTAL NET ASSETS 1 189.687 t 1191.165 PAAISH FUNDS UniesiTicied Resiricied Freehold propety reserye 959,501 69,60D 130,5fj6 1,013.591 47.008 130.566 TOTAL PARISH FUNDS £1189667 £ 1.191.165 Approved by the Parochial Church Covrtcil on 28 Apo l i and signed on 1¢$ beh311by". Jon Cook Ichuichwardenl C*aweev8n Wlli8m$ FCGA ITrea5urerl 7h8 notes on pagès S to 13 fonn part ofthese 8ccounts. The Parish of New Malden and Coombe. Christ Church and St. John's Cash Flow Statement CHRlSt CHUR¢H For the year ended 31 &t December 2020 2020 2019 Nel cash fromllused inl operating activitie$ 1175,5401 800,937 Cash flow5 from investing activities Interest and rent from Invest￿entS Purchases of equipment 3,706 3,689 Nel cash provided byllused inl investing aclivities 3,706 3,689 Change in cash and cash equivalents in the reporting period Cash and cash eqijivalents at 1 January Cash and cash equivalents 8t 31 December 1171,8341 804.626 1,062,607 890 773 257.981 1,062.607 Reconciliation of nel ineomellexpendilurel before investment gains Net income before investment gains 31 December Adjustments for.. Depreciation charges Interest from investments Decreasellincreasel in debtors IDe¢reasellincrease in creditors De¢TeasellincTeasel in Fixed Assets 131,4991 754.210 28,688 13.7081 114,6181 111,7311 1142,6751 9,063 13,6891 9.149 32,205 Nel cash Provided byllused inl operating activities 175,540 800 937 An81ysis of cash and cash equivalent5 Cash at bank and in hand Short term deposits 108,946 781.827 890 773 174.396 888,211 1.062,607 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Flnancial Statements CHRlSt CHIIRC For the ear ended 31st December 2020 ACCOUNTING POLICIES The PCC is a public benefrt entrty wf(hin the meaning of FRS102. The financial st8tements have been prepared under the Charities Act 2011 and in accordance wrth the Church Accounting Regulations 2006 governing the individual accounts of PCCS, and with the Regulations true and fair view, provisions, together wrth the Slalemenl of Recommended Practice, Accounting and Reporting by Charities SORP IFRS1021 The financial slalements have been prepared under the historical cost convention. The financial statements include all Iransaclions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. The PCCS poli￿ is to maintain unrestricted reserves equivalent lo 3 4 months of the charities expenditure. As al the end of 2018. actual reserves were well In excess of this level. mainly as a consequence of legacies received during the year. The PCC is giving consideration to how these should be spent. Restricted funds represent {al income from trusts or endowments which may be expended only on those ieslricled objects provided in the lemis of the trust or beque51, and Ibl donations or grants received for a specific object or invited by the PCC for a specific obiecl. The funds may only be expended on the specific object lor which they were given. Any balance remaining unspent al the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately lor each fund. Where there is no separate investment. and where material, Interest is apportioned to funds of a material size based on approximate average balances. Unrestricted funds are general funds which can be used for PCC ordinary purposes. Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource lo which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due and the amount can be ascertained with reasonable ￿rtaInlY. Interest is accrued and all other Income is recognised when il is receivable. All Incoming resources are accounted for gross. The value of any voluntary help received is nol included in the account5 bul Is described in Ihe PCCS, annual report. Liabilities are reco9nised as soon as there is a legal or constructive obligation and settlement is probable and quanlrfi8ble. Grants and donations are accounted for when paid over, or when awarded, rf that award Creates a binding or conslruclive obligation on the PCC. The diocesan parish share is accounted for when paid or Commited by the PCC to be paid in respect of the relevant accounting period. Amounts received specifically for mission are dea￿ with as reslricled funds. All other expenditure is generally re¢ognised when it is incurred and Is accounted for gross. The Parish of New Malden and Coombe, Chrlst Church and St. John's Notes to The Financial Statements CHRlSt For the e8r ended 31 st December 2020 ACCOUNTING POLICIES Icontlnued...) nce Cov We currently have insurance cover as follows.. The church and associated buildings are insured for £13 million and the amount of cover was assessed by E￿Ie$laStICal Insurance after the new halls were built. 12 Rosebery Avenue - buildings and contents cover of £378,142 in lolal - insured with Trinitas Church Insurance Engineering Insurance wth AXA covering p￿SSUriSed items and on an anntsal review. Consecrated and benefice property is exduded from the accounts in accordance with s1012llal of the Charities Act 2011. No value is placed on movable church fumishings held by the Churchwardens on special trust for the PCC, and which require a faculty for disposal since the PCC considers this lo be inalienable property. All expenditure incur￿￿ dunng the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement is written off as incurTed. Other land and buildings Other land and buildings held on behaff of the PCC for its own purposes Is valued at historical cost. No depreciation is charged against such properties bul any expenditure on maintenance is written off when incurred. The new Church Hall was buitt and completed in 2017. The development costs lo year ended 31 Dec 2018 were incurred by the Diocese, as custodian trustee of the new halls, working in partnership with Christ Church. The legalrties of the ownership and final settlement sum were transferred to Christ Church upon completion DI the sale of the old church halls and 1A Cambridge Avenue In 2019. Both properties were sold on the 3 July 2019 as part of a property development deal with Soulhwark Diocese in exchange for the newly buitt church hall. vicarage and a proportion of the cash proceeds from the sale of the properties equalling £905,900.47, nel of salès costs. Equipment used within the church. but not falling into the categories mentioned above, and costing more than £5,000 is depreciated al 330A per annum on a reducing balance basis. Office equipment costing in excess of £5,000 is capitalised and depreciated al 330/0 per annum on a reducing balance basis. The Parish of New Malden and Coombe, Chrlst Church and St. John's Notes to The Financlal Statements CHRlSt CHURCH For the yeaf ended 31st December 2020 INCOME FROM Unrestricted Funds Restrictèd Fund$ Total Funds 2020 2019 21al Voluntary Income and Other Income Planned giving.. Donations Tax recoverable 204,029 49,583 29,207 3,503 233.235 53,086 228,5S7 53.291 Collections at all services Sundry donations and gift days Other In¢ome Grants Special appeals Donations Tax recoverable 3,834 1,154 21,071 10,652 3,834 1,311 21,071 35,331 18,154 6,903 157 24,679 1,285 Legacies 2,000 290,322 S7,546 347,868 310,200 21bl Gain on the disposal of assets l Old church hall & 1A Cambridge Avel 21cl Investments Dividends and interest 905.900 3,700 3,706 3,689 21dl Church activities Church lettings Rent 18,416 17.771 18,416 17.771 19,461 20,253 Chureh groupslevents PCC fees 1,965 851 156 2,121 851 10,175 2,035 39,004 156 39,159 51,924 TOTAL £ 333 025 £ 57708 £ 390 733 £1 271 713 The Parish of New Malden and Coombe, Christ Church and SL John's Notes to Th• Flnanclal Statement8 CHRlSt ¢IIURCb¢ For the year endeil 3181 December 2020 EXPENDITURE ON Unr8strictsd Funds R•strfetsd Funds Totsl Funds 2020 2019 31al Church Actiwties Missionary & Charitable Gimng Home Mission Overseas Mission Other charities 3.059 160 9,890 1.350 10,943 6.909 4.409 11.103 16,799 28.859 21.805 24,358 13,109 19.202 32,311 75,021 Schoolsleducatian wtsrk Youth ministries Outreach Diocesan parish share Worship Churth property costs 5,409 249 941 139,250 5,377 78.670 5,409 2,197 971 139,250 5,377 79,630 5,400 3,098 2,885 135,360 7,526 121,802 1,948 30 960 Staff salaries and expenses Office and administration 99,997 6.774 11,474 111,471 6,774 95,996 6,549 Other Independent Examination fee 12019 indtsdes over provision) 36,505 1.320 1,015 37.520 1.320 59,848 4,020 TOTAL £ 387 603 £ 422 231 £ 517 503 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Financial Statements CHRlSt CHURCH Fof the year ended 31st December 2020 STAFF COSTS Unrestricted Fund$ Re$lricted Funds Total Funds 2019 2020 Salaries Employers National Insurance Pension Costs 70.755 1,971 8.185 £ 80,911 11,444 82,199 1,971 8,185 £ 92.355 82.089 6,091 5,533 £ 93,713 £ 11,444 The average number of staff employed during the year was 512019.. 51. Salaries in restricted Funds inGluded Employers National Insurance. FIXED ASSETS Freehold Land & Buildings Fixtures & Fittings and Equipment Tanglble (all unrestri¢ledl Total ACTUAL COST At 1 January 2020 Disposal Additions al cost 130,566 66,176 196,742 142,675 142,675 At 31 0ecember2020 £ 130,566 £ 208 851 £ 339,417 DEPRECIATION At 1 January 2020 Eliminated on disposal Char9e for year Charge for addition At 31 December2020 48,046 48,046 6,043 22.645 £ 76.734 6,043 22.645 76,734 NET BOOK VALUE At 1 January 2020 £ 130,566 £ 18.130 £ 148,696 At 31 December 2020 £ 130,566 £132117 £ 262,683 The freehold land and buildings comprise the house at 12 Rosebery Avenue and the associate vicarfs house al 2 Califomia Road. Addition lo Fixtures & Fittings and Equipment consists of a new photocopy machine. new lighting system, Audio Visual IAVI System upgrade for the Church and lounge including acoustic remedy in upstairs hall. Depreciation charge for the addition of Fixtures & Fittings and equipment was calculated on a 33.33 OA per year on a reducing balance basis, provrala on the month the cost was incurred lo the year end. 10 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Flnancial Statements CIIRlSt CHURCH For the year ended 31st December 2020 DEBTORS 2020 2019 Tax rewverable Prepayments and accrued interest Other debtor5 38.901 23.855 428 £38,901 £24,283 The debtor split betsveen funds is as follows Unrestricted Restricted 29.717 9,184 19,645 4.637 £38 901 £24.283 UABILITIES.. AMOUNTS FALLING OUE WITHIN ONE YEAR 2020 2019 Receipts in advance Other credf(ors Deposits in advance Note al 32,689 44,421 32.689 44,421 The creditor split be￿en funds Is as follows Unrestricted Reslricled 32.605 84 43,219 1,202 32,689 44.421 ANALYSIS OF NET ASSETS BY FUND Unrestrictod Restrlcted Total Fixed assets Current assets Current liabilities 262,683 859,990 32,605 262,683 929,673 32,689 69,683 Fund balance £ 1,090,068 69,599 £ 1,159,667 Note al- Other credIto￿. Other creditors include £25.000 provision for Architect fee claimed for work on possible replacement housing for the caretaker under dispute since 2019. The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Flnan¢ial Statements CHRlSt CNLIRC For the year ended 31st December 2020 FUND DETAILS 8alan¢• b￿d at Transfer tolfrorn Balance clfvld at Un¥e$tricted Funds.. Christ Church General Fund 953.595 244.206 290,863 906.938 Si John's General Fund 59.996 88.819 96.740 487 52.563 Adjustment On Gonsolidation Total £1.013 $91 £ 333,026 £ 387 604 487 £ 969.501 Re¥trictsd Fund#: CC Mission Fund5 14,091 S.464 1,200 18,355 CC Sunéry 17,115 447 2,999 8,563 CC Entrance Fund St John'5 Special Fun4 1,139 3.911 1,116 12,8001 1,135 Sl John's Missionary Fund 5,391 7.600 11,051 1,941 St John's Oiscrel'onary Fund 2,133 650 621 2.163 St John's GAP Fund 13,138 39,635 17,643 2,313 37,444 Totsl £ 47008 £ 34630 487 Fund particulars.. Mission Funds ar8 donated in support of missionaries and mission societies at the direction of donors. Menses In the St John's Specjal Fund are used for St John's church at the Iyiscrelion oflhe St John's Committee. Sundry Funds are primarily rnonies given that are eatrnarked for specific chaniies The St John's Dis¢retsonary Fund is Money 9iven prirnarily in support of less well off pari5hion8rs. The CAP fund fInaTh￿S wotk with people $tru99ling with debt 12 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Financial Statements CHRl$t CMURC For the year endèd 31 st December 2020 10. CHARITABLE DONATIONS Principal activiti&s supported (greater than £1,000). 2020 hri Oxygen Jeanne 8u¢hanan £6,000 £2,400 Oxygen Insight Chijrch Schools KCAH AVVM l Ruggl Mercy Teete Mission Afft'ca- Nash, Van 8rakel & Poor fund £1.970 £1.656 £2.400 £1.642 £1.500 £3,900 £5,3SO The Churches supports these and other causes through both reslncted and unrestricted 9iwng. f3 CHRlSt CHURCH NEVI MALOEN Johns The Parish of New Malden & Coombe, Christ Church and St John's Registered Charity No. 1134966 Financial Statements For the year ended 31 St December 2020 Independent Examlner's Report to The Parochlal Church Council of Chrf$t Church and St John's the Dlvln• Forth•ye8r ended 31$1 D¢¢emb¢r2020 Independent ExamIn0￿8 Raport l Teporl lo Ihe Pèrothl81 Church Coundl on rry 8¥amlnattr)n ¢llhe o¢o)unEs ol P8rJsh gf ¢hrtst Churcth and Sl John th• Dh4ne for Ihe y￿r and￿ 31 DJuFrt*r202 Responslbllfties and baglg of report As Ihe ch4dty truslees of Twsl you Art ¥èsponsdlts lorth8 pr¢wratlon ofthts accounts In aCf¥)rdan¢e wlli tho requirements of tho Chaiili85 2011 I'th? Ad'l. l rnport in r¢3pect of rrry examh8tioTr of the Tru8t'g rnrrJ•d out Jjrider 8ed*)n 145 of A¢t In urrwn9 Oljt my •¥wumallon I ha￿ foltrè*d al appICab￿ DwècttDAs 4fveA bythtr Charfty CorNri$8w uThl•rsed5on 145($)Ib} tsflhe Acl. Independent examlnevs 8talorn8nt Slne* ythjr ehariW5 gfojs income exceeded £250,000 yovr eXa￿￿ner musl b¢ a Trtomberol a Nsl¢d body. I rAn ¢onkn Ihol l am gudifi¢d to uftdeA•ke lh• exarrinotlon because l am 8 regist8red rnomb•rof ICAEWwhlch one ol the h'st•d bodies. I havÈ ￿Mple1¢d my exaThln•lJon. I confTh that no mat*1 matter5 h￿fr com* k) my Btt8nkn In t￿Me(￿Ort wlth V)a ey8rnin81ion givthg fne LW#S io beleve Ih81 Sn 8ry m3ieri81 rn5pec* a¢counUng remrds %stre nLI kepl In fe8P¢Ct of the TnJ81 as imulred by gectlon 130 of ih• Aci,. ot ttJ8 ac¢ouDE$ do not #crA)rdvAth thoso r¢c4rds,' thè acwjnts do not compty vAlh Iha appk¢8ble requ1rom￿th wncornin9 Ihe lorn ￿nI￿ni ol accounts Sat out ￿ the Charltle$ IAet4)unts gnd R￿p(￿l R6guLqtlons 2008 0th8Tlh•n Èny req￿￿ementIhO1th• accounls g￿e • true and fak view vjhlch Is [￿1 • mattercon￿d8reJ •s pprt of#n IrKjw￿enI •xanVJnat*&n. I hove no eoncems and ha¥e ¢omo across no other molters in eA)nnecalon Wth Ihe examwtr8tion to 8h)ulJ b¢ lIra￿ In thls report kn orderlo enab￿ 8 pmpor undmlanding of Ihe a¢￿￿nIS to rea¢hed. azd Day FCA DthA ICAEW Tuijor John LlmSt NlghtlnBal* Hovse 4fp48 Str￿1 Eyom Surrey KT17 1HQ Dat•: 174kn The Parish of New Malden and Coombe, Christ Church and St. John, Statement of Flnan¢lal Actlvltles CHRlSt CHURCH For the year ended 3151 December 2020 Unrestri¢t•d Funds Rostricted Furbds Total Funds 2020 2019 INCOME FROM Voluntary Inwme and Other income 21a) 290.322 57,546 347,868 310.200 Gain on the disposal ol assets 21bl 905.900 Ineomè Irom investments 21cl 3,700 3,706 3.689 Church activities 21dl 39,004 156 39,159 51,924 TOTAL INCOME £ 333 02S £ 57708 390.733 £ 1,271,713 EXPENDITURE ON Church Aclivilie$ 31al 387.603 34.629 422.231 517,503 TOTAL EXPENDITURE £ 387 603 £ 34629 422,231 517503 NET INCOME IEXPENDITUREI {54,577) 23,079 131,4991 754,210 Transfers between Funds 487 14871 NET MOVEMENT IN FUNDS (54.0901 22,592 131,4991 754,210 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 1,013.591 47.008 1,060,599 306,389 TOTAL FUNDS CARRIED FORWARD £ 959 502 £ 89600 £ 1,029,101 £ 1,060.599 A detailed analysis of 2019 SOFA is included on the following pag8. The Parish of Néw Malden and Coombe, Christ Church and St. John's Ststement of Flnancial Activitiès CHRlSt For the year ended 31* December 2019 Unrestricted Funds Restri¢ted Funds Total Funds Note 2019 2018 INCOME FROM Voluntary Income and Other income 21al 271,072 39,128 310,200 459.004 Gain on the disposal of assets 2{bl 905,900 905,900 Income from investments 21c} 3,675 14 3,689 360 Church 8clivilies 21dl 51,924 51.924 48,380 TOTAL INCOME £ 1 232,571 £ 39142 £ 1271.713 507,744 EXPENDITURE ON Church Activities 31al 432.085 85,418 517,503 507,440 TOTAL EXPENDITURE £ 432,085 £ 85,418 517.503 507,440 NET INCOME IEXPENDITUREI 800,486 146,276} 754,210 304 Transfers be￿een Funds 12,000) 2.000 NET MOVEMENT IN FUNDS 798,486 144,276) 754,210 304 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 215,105 91,284 306,389 306,086 TOTAL FUNDS CARRIED FORWARD £ 1,013,591 £ 47,008 £ 1,060.599 306,390 A detailed analysis of 2018 SOFA is included on the following page. The Parlsh of NewM4lden and Coornbè. Chrl¥t Church and St. John's Balanc* Sheet NRISt eMURCN As ai 31* C*cember 202Q 2020 2019 FIXEO ASSETS Tangible asseis 262.683 148.696 CURRENT ASSETS Debtors Short torm deposit- CCLA Cash al bonk and In hand 38.901 781,827 108,946 24.283 888.211 174.396 929,674 1.088.890 LIA81LITIES. AMOUNTS FALLING DUE ¥MfHIN ONE YEAR 32.689 44,421 NETCURRENT ASSETS 896.984 1.042.469 TOTAL NET ASSETS 1 189.687 t 1191.165 PAAISH FUNDS UniesiTicied Resiricied Freehold propety reserye 959,501 69,60D 130,5fj6 1,013.591 47.008 130.566 TOTAL PARISH FUNDS £1189667 £ 1.191.165 Approved by the Parochial Church Covrtcil on 28 Apo l i and signed on 1¢$ beh311by". Jon Cook Ichuichwardenl C*aweev8n Wlli8m$ FCGA ITrea5urerl 7h8 notes on pagès S to 13 fonn part ofthese 8ccounts. The Parish of New Malden and Coombe. Christ Church and St. John's Cash Flow Statement CHRlSt CHUR¢H For the year ended 31 &t December 2020 2020 2019 Nel cash fromllused inl operating activitie$ 1175,5401 800,937 Cash flow5 from investing activities Interest and rent from Invest￿entS Purchases of equipment 3,706 3,689 Nel cash provided byllused inl investing aclivities 3,706 3,689 Change in cash and cash equivalents in the reporting period Cash and cash eqijivalents at 1 January Cash and cash equivalents 8t 31 December 1171,8341 804.626 1,062,607 890 773 257.981 1,062.607 Reconciliation of nel ineomellexpendilurel before investment gains Net income before investment gains 31 December Adjustments for.. Depreciation charges Interest from investments Decreasellincreasel in debtors IDe¢reasellincrease in creditors De¢TeasellincTeasel in Fixed Assets 131,4991 754.210 28,688 13.7081 114,6181 111,7311 1142,6751 9,063 13,6891 9.149 32,205 Nel cash Provided byllused inl operating activities 175,540 800 937 An81ysis of cash and cash equivalent5 Cash at bank and in hand Short term deposits 108,946 781.827 890 773 174.396 888,211 1.062,607 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Flnancial Statements CHRlSt CHIIRC For the ear ended 31st December 2020 ACCOUNTING POLICIES The PCC is a public benefrt entrty wf(hin the meaning of FRS102. The financial st8tements have been prepared under the Charities Act 2011 and in accordance wrth the Church Accounting Regulations 2006 governing the individual accounts of PCCS, and with the Regulations true and fair view, provisions, together wrth the Slalemenl of Recommended Practice, Accounting and Reporting by Charities SORP IFRS1021 The financial slalements have been prepared under the historical cost convention. The financial statements include all Iransaclions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. The PCCS poli￿ is to maintain unrestricted reserves equivalent lo 3 4 months of the charities expenditure. As al the end of 2018. actual reserves were well In excess of this level. mainly as a consequence of legacies received during the year. The PCC is giving consideration to how these should be spent. Restricted funds represent {al income from trusts or endowments which may be expended only on those ieslricled objects provided in the lemis of the trust or beque51, and Ibl donations or grants received for a specific object or invited by the PCC for a specific obiecl. The funds may only be expended on the specific object lor which they were given. Any balance remaining unspent al the end of each year must be carried forward as a balance on that fund. The PCC does not usually invest separately lor each fund. Where there is no separate investment. and where material, Interest is apportioned to funds of a material size based on approximate average balances. Unrestricted funds are general funds which can be used for PCC ordinary purposes. Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource lo which they relate is received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due and the amount can be ascertained with reasonable ￿rtaInlY. Interest is accrued and all other Income is recognised when il is receivable. All Incoming resources are accounted for gross. The value of any voluntary help received is nol included in the account5 bul Is described in Ihe PCCS, annual report. Liabilities are reco9nised as soon as there is a legal or constructive obligation and settlement is probable and quanlrfi8ble. Grants and donations are accounted for when paid over, or when awarded, rf that award Creates a binding or conslruclive obligation on the PCC. The diocesan parish share is accounted for when paid or Commited by the PCC to be paid in respect of the relevant accounting period. Amounts received specifically for mission are dea￿ with as reslricled funds. All other expenditure is generally re¢ognised when it is incurred and Is accounted for gross. The Parish of New Malden and Coombe, Chrlst Church and St. John's Notes to The Financial Statements CHRlSt For the e8r ended 31 st December 2020 ACCOUNTING POLICIES Icontlnued...) nce Cov We currently have insurance cover as follows.. The church and associated buildings are insured for £13 million and the amount of cover was assessed by E￿Ie$laStICal Insurance after the new halls were built. 12 Rosebery Avenue - buildings and contents cover of £378,142 in lolal - insured with Trinitas Church Insurance Engineering Insurance wth AXA covering p￿SSUriSed items and on an anntsal review. Consecrated and benefice property is exduded from the accounts in accordance with s1012llal of the Charities Act 2011. No value is placed on movable church fumishings held by the Churchwardens on special trust for the PCC, and which require a faculty for disposal since the PCC considers this lo be inalienable property. All expenditure incur￿￿ dunng the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement is written off as incurTed. Other land and buildings Other land and buildings held on behaff of the PCC for its own purposes Is valued at historical cost. No depreciation is charged against such properties bul any expenditure on maintenance is written off when incurred. The new Church Hall was buitt and completed in 2017. The development costs lo year ended 31 Dec 2018 were incurred by the Diocese, as custodian trustee of the new halls, working in partnership with Christ Church. The legalrties of the ownership and final settlement sum were transferred to Christ Church upon completion DI the sale of the old church halls and 1A Cambridge Avenue In 2019. Both properties were sold on the 3 July 2019 as part of a property development deal with Soulhwark Diocese in exchange for the newly buitt church hall. vicarage and a proportion of the cash proceeds from the sale of the properties equalling £905,900.47, nel of salès costs. Equipment used within the church. but not falling into the categories mentioned above, and costing more than £5,000 is depreciated al 330A per annum on a reducing balance basis. Office equipment costing in excess of £5,000 is capitalised and depreciated al 330/0 per annum on a reducing balance basis. The Parish of New Malden and Coombe, Chrlst Church and St. John's Notes to The Financlal Statements CHRlSt CHURCH For the yeaf ended 31st December 2020 INCOME FROM Unrestricted Funds Restrictèd Fund$ Total Funds 2020 2019 21al Voluntary Income and Other Income Planned giving.. Donations Tax recoverable 204,029 49,583 29,207 3,503 233.235 53,086 228,5S7 53.291 Collections at all services Sundry donations and gift days Other In¢ome Grants Special appeals Donations Tax recoverable 3,834 1,154 21,071 10,652 3,834 1,311 21,071 35,331 18,154 6,903 157 24,679 1,285 Legacies 2,000 290,322 S7,546 347,868 310,200 21bl Gain on the disposal of assets l Old church hall & 1A Cambridge Avel 21cl Investments Dividends and interest 905.900 3,700 3,706 3,689 21dl Church activities Church lettings Rent 18,416 17.771 18,416 17.771 19,461 20,253 Chureh groupslevents PCC fees 1,965 851 156 2,121 851 10,175 2,035 39,004 156 39,159 51,924 TOTAL £ 333 025 £ 57708 £ 390 733 £1 271 713 The Parish of New Malden and Coombe, Christ Church and SL John's Notes to Th• Flnanclal Statement8 CHRlSt ¢IIURCb¢ For the year endeil 3181 December 2020 EXPENDITURE ON Unr8strictsd Funds R•strfetsd Funds Totsl Funds 2020 2019 31al Church Actiwties Missionary & Charitable Gimng Home Mission Overseas Mission Other charities 3.059 160 9,890 1.350 10,943 6.909 4.409 11.103 16,799 28.859 21.805 24,358 13,109 19.202 32,311 75,021 Schoolsleducatian wtsrk Youth ministries Outreach Diocesan parish share Worship Churth property costs 5,409 249 941 139,250 5,377 78.670 5,409 2,197 971 139,250 5,377 79,630 5,400 3,098 2,885 135,360 7,526 121,802 1,948 30 960 Staff salaries and expenses Office and administration 99,997 6.774 11,474 111,471 6,774 95,996 6,549 Other Independent Examination fee 12019 indtsdes over provision) 36,505 1.320 1,015 37.520 1.320 59,848 4,020 TOTAL £ 387 603 £ 422 231 £ 517 503 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Financial Statements CHRlSt CHURCH Fof the year ended 31st December 2020 STAFF COSTS Unrestricted Fund$ Re$lricted Funds Total Funds 2019 2020 Salaries Employers National Insurance Pension Costs 70.755 1,971 8.185 £ 80,911 11,444 82,199 1,971 8,185 £ 92.355 82.089 6,091 5,533 £ 93,713 £ 11,444 The average number of staff employed during the year was 512019.. 51. Salaries in restricted Funds inGluded Employers National Insurance. FIXED ASSETS Freehold Land & Buildings Fixtures & Fittings and Equipment Tanglble (all unrestri¢ledl Total ACTUAL COST At 1 January 2020 Disposal Additions al cost 130,566 66,176 196,742 142,675 142,675 At 31 0ecember2020 £ 130,566 £ 208 851 £ 339,417 DEPRECIATION At 1 January 2020 Eliminated on disposal Char9e for year Charge for addition At 31 December2020 48,046 48,046 6,043 22.645 £ 76.734 6,043 22.645 76,734 NET BOOK VALUE At 1 January 2020 £ 130,566 £ 18.130 £ 148,696 At 31 December 2020 £ 130,566 £132117 £ 262,683 The freehold land and buildings comprise the house at 12 Rosebery Avenue and the associate vicarfs house al 2 Califomia Road. Addition lo Fixtures & Fittings and Equipment consists of a new photocopy machine. new lighting system, Audio Visual IAVI System upgrade for the Church and lounge including acoustic remedy in upstairs hall. Depreciation charge for the addition of Fixtures & Fittings and equipment was calculated on a 33.33 OA per year on a reducing balance basis, provrala on the month the cost was incurred lo the year end. 10 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Flnancial Statements CIIRlSt CHURCH For the year ended 31st December 2020 DEBTORS 2020 2019 Tax rewverable Prepayments and accrued interest Other debtor5 38.901 23.855 428 £38,901 £24,283 The debtor split betsveen funds is as follows Unrestricted Restricted 29.717 9,184 19,645 4.637 £38 901 £24.283 UABILITIES.. AMOUNTS FALLING OUE WITHIN ONE YEAR 2020 2019 Receipts in advance Other credf(ors Deposits in advance Note al 32,689 44,421 32.689 44,421 The creditor split be￿en funds Is as follows Unrestricted Reslricled 32.605 84 43,219 1,202 32,689 44.421 ANALYSIS OF NET ASSETS BY FUND Unrestrictod Restrlcted Total Fixed assets Current assets Current liabilities 262,683 859,990 32,605 262,683 929,673 32,689 69,683 Fund balance £ 1,090,068 69,599 £ 1,159,667 Note al- Other credIto￿. Other creditors include £25.000 provision for Architect fee claimed for work on possible replacement housing for the caretaker under dispute since 2019. The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Flnan¢ial Statements CHRlSt CNLIRC For the year ended 31st December 2020 FUND DETAILS 8alan¢• b￿d at Transfer tolfrorn Balance clfvld at Un¥e$tricted Funds.. Christ Church General Fund 953.595 244.206 290,863 906.938 Si John's General Fund 59.996 88.819 96.740 487 52.563 Adjustment On Gonsolidation Total £1.013 $91 £ 333,026 £ 387 604 487 £ 969.501 Re¥trictsd Fund#: CC Mission Fund5 14,091 S.464 1,200 18,355 CC Sunéry 17,115 447 2,999 8,563 CC Entrance Fund St John'5 Special Fun4 1,139 3.911 1,116 12,8001 1,135 Sl John's Missionary Fund 5,391 7.600 11,051 1,941 St John's Oiscrel'onary Fund 2,133 650 621 2.163 St John's GAP Fund 13,138 39,635 17,643 2,313 37,444 Totsl £ 47008 £ 34630 487 Fund particulars.. Mission Funds ar8 donated in support of missionaries and mission societies at the direction of donors. Menses In the St John's Specjal Fund are used for St John's church at the Iyiscrelion oflhe St John's Committee. Sundry Funds are primarily rnonies given that are eatrnarked for specific chaniies The St John's Dis¢retsonary Fund is Money 9iven prirnarily in support of less well off pari5hion8rs. The CAP fund fInaTh￿S wotk with people $tru99ling with debt 12 The Parish of New Malden and Coombe, Christ Church and St. John's Notes to The Financial Statements CHRl$t CMURC For the year endèd 31 st December 2020 10. CHARITABLE DONATIONS Principal activiti&s supported (greater than £1,000). 2020 hri Oxygen Jeanne 8u¢hanan £6,000 £2,400 Oxygen Insight Chijrch Schools KCAH AVVM l Ruggl Mercy Teete Mission Afft'ca- Nash, Van 8rakel & Poor fund £1.970 £1.656 £2.400 £1.642 £1.500 £3,900 £5,3SO The Churches supports these and other causes through both reslncted and unrestricted 9iwng. f3