## **Christ Church, Warley, Brentwood** ## **Annual Report and Financial Statements** ## **Year ending 31[st] December 2020** ## **Incumbent** Reverend Stuart Hull BA, BTh ## **Bankers** Nat West 46, High Street, Brentwood, CM14 4AL ## **Independent Examiner** Neville Reid ACA 19, Mills Grove, Poplar London E14 0RH _Page 1_ **Christ Church, Warley, Brentwood Trustees Annual Report for the year ending 31[st] December 2020** ## **PCC Foreword** ## **Administrative Information** Christ Church is situated at Warley Hill, Warley, Brentwood, Essex, CM13 3AA. This also the address for correspondence. It is part of the Diocese of Chelmsford within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956 and Church Representation Rules 2006). It is charity registered with the Charity Commission (CC registration number 1138758). ## **Aims and purposes** Christ Church Parochial Church Council has the responsibility of cooperating with the incumbent, in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the church complex at Christ Church, Warley. ## **Structure, governance and management** The method of appointment of PCC members is set out in the Church Representation Rules. At Christ Church the membership of the PCC consists of the Incumbent, Assistant Minister, the Church Wardens, members elected by those members of the congregation who are on the electoral roll of the Church, and any member(s) co-opted for specialist skills which are needed at the time. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including decisions on how the funds of the PCC are to be spent. New members receive initial training into the workings of the PCC. The PCC met 4 times during the year. Given its wide responsibilities the PCC has a number of committees, each dealing with a particular aspect of parish life. These committees include Worship and Spirituality, Buildings, Pastoral, Children and Youth, and Administration. All these groups are responsible to the PCC and report back to it regularly with minutes of their decisions being received by the full PCC and discussed as necessary ## **PCC Membership 2020** PCC Members who have served anytime from 1[st] January 2020 to the date this report is approved are shown below. Ex Officio Members Incumbent and Chair of PCC: Reverend Stuart Hull Associate Minister: Reverend Doctor Adrian McConnaughie to 19[th] June 2020 Church Wardens: Brendon Horrocks Suzanne Galliers from 25[th] October 2020 Elected Members: Fiona Benson to 25[th] October 2020 Suzanne Galliers to 25[th] October 2020 John Kettlewell, Treasurer Sarah McConnaughie to 19[th] June 2020 Olive Law Deanery Synod Representative _Page 2_ Sylvia Partridge, PCC Secretary Simon See to 25[th] October 2020 Harry Stimpson Mark Townsend Barbara Moore from 25[th] October 2020 Co-opted Members: Louise Kearns Andrew Wood Heather Bradshaw from 11[th] November 2020 ## **Objectives and Activities** The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at Christ Church. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups which live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament. When planning our activities for the year we have considered the Charity Commission’s guidance on public benefit and in particular the supplementary guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of our parish community by 1. Worship, bible study and prayer, learning about the gospel and developing their knowledge and trust in Jesus as Lord and Saviour 2. Provision of pastoral care to people living in the parish 3. Missionary and outreach work. To facilitate this work it is important that we maintain the fabric of Christ Church. This report focuses on finance and governance matters. A separate report on the many activities of the Church shows how the PCC achieved the above objectives in 2020. However the impact of the Covid crisis and the resulting closure of the church building and centre has had a serious impact on the life of the Church in 2020. The financial implications are discussed in the section below. ## **Financial review** ## **General Fund** The main account of Christ Church is the General Fund, described as unrestricted funds in the financial statements, meaning its funds are available to be spent on PCC general purposes. In 2020 income was £83,093 (compared with £88,339 in 2019), and expenditure was £87,178 compared with (£93,309 in 2019), meaning there was a deficit of £4,085 for the year. This compared with a deficit of £4,970 in 2019. The deficit for 2020, together with £3,627 referred to later, has been taken to the reserve of £7,704 brought forward into 2020 and so as at 31[st] December 2020 there was a reserve of £7,246 carried forward. The level of reserves is discussed later. Income from giving was £66,582, inclusive of tax recovered on gift aid, compared with £63,649 in 2019. Although regular gift aided giving and loose plate collections were down compared with 2019 by £8,040 there was an increase in other non gift aided planned giving from £130 in 2019 to £2,512 in 2020, and in donations from £6,584 in 2019 to £15,092 in 2020. Donations in giving are via CAF, and one off donations from regular and non regular givers. This was an encouraging outcome in the pandemic. However the Christ Church Centre has not been available for letting since March 2020 and so income was down from £9,521 in 2019 to £1,235 in 2020. We must not assume that once the Centre is available for use income will recover to previous levels. The Leg Club and Diocese who provided large amounts of income no longer use the Centre _Page 3_ and other large generators of income are needed. Similarly with people working from home, income from car parking was down from £5,134 in 2019 to £2,763 in 2020. The income could have been lower but a number of users continued to pay for a while even though they were working from home. Fee income from weddings and funerals declined from £1,097 to £42. A positive was at last we reaped the benefit of the sale of the property at Thorndales in March 2019 and the investment of the sale proceeds by the Diocese on 30[th] April 2019 in the CCLA, Church Board of Finance Church of England Investment Fund in the income shares section. A full year dividend of £9,047 was the main reason for the increase in dividend income from £5,088 in 2019 to £10,069 in 2020. £3,627 was transferred from the Aged and Infirm Fund to support General Fund activities because many of these are provided in accordance with the aims and objectives of the former Fund. In 2019 the figure was £2,858. As the church building has been closed for most of the year there have been reductions in expenditure. Expenditure on organists was £630 compared with £3,030 in 2019. Cleaning costs were £2,902 compared with £3,149. Expenditure on maintenance was much reduced from £2,714 in 2019 to £276 in 2020. Expenditure on administration was down from £1,347 in 2019 to £964 in 2020. There was no miscellaneous expenditure in 2020 (compared with £1,192 in 2019 on the general fund, £6,690 disposal costs on Thorndales, and £50 on a restricted fund). Printing and stationery costs fell from £1,905 to £844. The bulk of the 2020 expenditure on printing and stationery related to the leasing costs of the printer/photocopier. Gas bills fell from £2,210 in 2019 to £1,597 in 2020 and electricity from £1,749 to £1,228. However, in the case of electricity this was due to a credit as our bills were higher than usage. What we cannot put a price on is the value of the work of our volunteers which is highlighted in the Activities Report which is produced separately from this report. Without their input the Church would not be able to carry out the many activities it undertakes. Our thanks go to all our volunteers. On the expenditure side the Diocese requested an increase in our portion of the Parish share from £74,499 to £75,373. However our financial position has been deteriorating over the last few years. The PCC advised the Diocese at the start of 2020 that we were unable to pay the Parish Share in full. We paid £65,470 compared with £62,083 in 2019. When that was added to the amount paid by St Mary’s it meant that as a Benefice both Christ Church and St Mary’s had covered the cost of ministry, i.e. what it costs for one stipendiary minister to be employed plus all the overhead costs of the Diocese. During 2020 it looked as though there might be a sizable deficit on the year. However an overall deficit of £458 has meant that it has been possible to carry forward £7,246 into 2021 so that as a Benefice, Christ Church and St Mary’s can try to cover the cost of ministry in 2021, but it is unlikely we can pay the full Parish Share due. At present there are many uncertainties and much will depend on levels of giving increasing and a return to some sort of normalcy during the year. As we can no longer pay the Parish Share in full it is no longer possible to continue our policy of donating 10% of giving by church members to our chosen charities. No money has been set aside for Brentwood Schools Christian Worker Trust, Tearfund, Church Urban Fund and Christians Against Poverty. However in 2020 individual church members donated £1,562 to BSCWT through Christ Church accounts. In addition the Church raised £1,250 to help those affected by the pandemic. £800 of this has been donated to the Brentwood Food Bank with the remaining £450 being held for donation in 2021. No Christmas Market could be held in 2020. ## **Reserves Policy** The Diocese advises that PCCs should try and maintain a balance of unrestricted funds which equates to at least 3 months unrestricted payments. In the case of Christ Church this would be a reserve of around £22,000. The General Fund Reserve at 31[st] December 2020 was only £7,246. The importance of reserves is that they provide the cash necessary to smooth out fluctuations in cash flow and meet emergencies. Each month we pay the following large bills by direct debit: parish share (£5,456), salaries (£735), gas, electricity and utilities _Page 4_ (£400 average). The income to meet them is much slower coming in. At the end of 2020 the cash balances on the General Fund were £29,759 compared with £30,879 at the end of 2019. The reason for the cash balances being higher than the General Fund Reserve is that there is £22,564 still in hand from the loan for the Parish Hall which is only due for repayment to the Diocese in the long term. Therefore, for this year sufficient cash resources are available to meet timing differences between income and expenditure and any emergency items. This position will need to be kept under review. ## **Other funds** The closing balances and main transactions on other funds were as follows: **Endowment Funds.** These were valued at £33,144 as at 31[st] December 2020. The comparable figure at the end of 2019 was £32,607. Dividend income of £1,022 was credited to the General Fund (£632 in 2019) and applied in accordance with the terms of the trusts. One of the above investments is held by the Diocese as Custodian Trustee. It was valued at £2,520 on 31[st] December 2020 (£2,358 on 31[st] December 2019) and produced dividend income to the General Fund of £71 (also included above). **Christ Church Centre** . At the end of the year this has a balance of £201 which was the balance at the end of 2019. **Aged and Infirm** . Investments produced dividend income of £4,070. This is a reduction from last years income of £5,042. £443 was used to pay for taxis which was well down from last year’s figure of £2,134. This meant that in spite of a reduced dividend the transfer to the General Fund was £3,627 compared with £2,858 last year. The investments which provide dividend income were valued at £83,384 as at 31[st] December 2020. The 31[st] December 2019 valuation was £100,887. There is a revenue balance on the Fund of £3,030 as at 31[st] December 2020. **Building Trust Fund** . The Big Band concert at the beginning of January 2020 raised an additional £1,100 for the Fund. The year end balance was £12,096. This money is available to finance major works in both the building and church yard. **Fabric Fund** . At the start of the year there was a balance of £459. Interest received from a deposit account held by the Diocese as Custodian Trustee re the Sale of the Parish Hall loan repayment added £100 to bring the year end balance to £559. **Thorndales** . The net proceeds due to the PCC relating to the sale were invested in income shares of the CCLA Church Board of Finance Church of England Investment Fund on 30[th] April 2019. The value of the investment on 31[st] December 2020 was £322,954 compared with £302,174 a year earlier. The investment is held by the Diocese as Custodian Trustee. The PCC as Managing Trustee receives the dividend income. Full year dividend income in 2020 was £9,047 compared with part year income in 2019 of £4,456. **Parish Hall** . The Diocese are custodian trustees and hold the cash. It represents the amount of loan repayments of £683.75 each year by the Church to the Diocese in respect of the loan granted by the Diocese in 1990 for the internal reordering of the Church. This is an interest free loan. At the end of the year the loan outstanding was £22,564 (£23,247 in 2019) and cash held by the Diocese as custodian trustee was £19,132 (£18,449 in 2019). The cash is invested in the CBF Deposit Account and the interest is credited to the Fabric Fund (see above). Approved by the PCC on 17 March 2021 Reverend Stuart Hull BA, BTh Chair of the PCC _Page 5_ ## **Independent examiner’s report to the Trustees of Christ Church, Great Warley, Parochial Church Council** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31[st] December 2020.** ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiners statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Neville Reid, ACA 19 Mills Grove Poplar London E14 0RH 17 March 2021 _Page 6_ ## **Christ Church, Warley, Brentwood Statement of Financial Activities for the year ending 31[st] December 2020** |**Note**|**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**Endowme**
**nt funds**
**Total**
**funds**
**Prior year**
**total funds**| |---|---| |**Income and endowments from:**
**2**
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
**7**
**Total income**
**Expenditure on:**
**3**
Charitable activities
Other expenditure
**7**
**Total expenditure**
**Net income / (expenditure) before**
**investment gains/losses**
Net gains/(losses) on investments
**7**
**Net income / (expenditure)**
**Transfers between funds:**
Gross transfers between funds – in
**6**
Gross transfers between funds – out
**6**
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**|**£**
**£**
**£**
**£**
**£**
**£**
71,707
—
1,100
—
72,807
79,380
1,277
—
—
—
1,277
10,618
20
—
—
—
20
2,007
10,089
100
4,070
—
14,259
10,308
—
—
683
—
683
684| ||**83,093**
**100**
**5,853**
—
**89,046**
**102,997**
87,178
—
443
—
87.621
125,890
—
—
—
—
—
7,932| ||**87,178**
**443**
—
**87,621**
**133,822**| ||**(4,085)**
**100**
**5,410**
—
**1,425**
**(30,825)**
¤
—
20,780
(17,503)
537
3,814
40,375| ||**(4,085)**
**20,880**
**(12,093)**
**537**
**5,239**
**9,550**
3,627
—
—
—
3,627
2,858
—
—
(3,627)
—
(3,627)
(2,858)| ||**(458)**
**20,880**
**(15,720)**
**537**
**5,239**
**9,550**| ||**7,704**
**303,821**
**133,563**
**32,607**
**477,695**
**468,145**| ||**7,246**
**324,701**
**117,843**
**33,144**
**482,934**
**477,695**| _Page 7_ ## **Christ Church, Warley, Brentwood Balance sheet for the year ending 31[st] December 2020** ||**Total funds Prior year funds**| |---|---| |Note
**Fixed assets**
Tangible assets
7(a)
Investments
7(b)
**Current assets**
Debtors
8
Cash at bank and in hand
10
**Liabilities**
Creditors: Amounts falling due
within one year
9(a)
**Net current assets**
**Total assets less current liabilities**
Creditors: Amounts falling due
after one year
9(b)
**Total net assets less liabilities**
**Funds of the Charity**
11
**Unrestricted**
General fund
**Designated**
Fabric Fund
Buildings Capital
Memorial Fund
**Restricted**
Aged and Infirm Fund
Building Trust Fund
Christ Church Centre
Sale of old hall
13
**Endowment**
Endowment
**Funds of the church**|£
£
—
—
439,482
435,668| ||**439,482**
**435,668**
3,406
4,552
65,965
64,877| ||**69,371**
**69,429**
3,355
4,155| ||**66,016**
**65,274**| ||**505,498**
**500,942**
22,564
23,247| ||**482,934**
**477,695**| ||7,246
7,704
559
459
322,954
302,174
1,188
1,188
86,414
103,917
12,096
10,996
201
201
19,132
18,449
33,144
32,607| ||**482,934**
**477,695**| Approved by the PCC on 17[th] March 2021 Reverend Stuart Hull BA, BTh Chair of the PCC _Page 8_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 1. ACCOUNTING POLICIES** The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations “true and fair view” provisions. They are also prepared under FRS102 as the applicable accounting standard and the 2019 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)). ## **(a) Income** Planned giving, collections, and similar donations are recognized when received. Tax reclaimed in respect of Gift Aid is recognized when the incoming resources to which they relate are received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts due are reliably quantifiable. Dividends are accounted for when declared receivable, interest as and when received. All incoming resources are accounted gross with the exception of fees for weddings and funerals. The total income for these items includes amounts due to the Diocese and expenses to helpers. These are netted off the total amount leaving in the accounts only income properly due to the PCC. ## **(b) Expenditure** Grants and donations are accounted for when paid over or the PCC commits to paying from resources for the financial year in question. The Diocesan Parish Share is paid over when due provided resources are available. All other expenditure is generally recognized and is accounted for gross. ## **(c) Volunteers** Without our volunteers the Church could not function. However it is not possible to put a value on the work they do. ## **(d) Assets** ## **Consecrated and benefice property** In so far as consecrated and benefice property of any kind is excluded from the statutory definition of charity by Section 10(2)(a) and (c) of the Charities Act 2011 such assets are not capitalized in the financial statements. ## **Moveable church furnishings** Moveable church furnishings held by the Vicar and Church Wardens on special trust for the PCC and which require a faculty for disposal are accounted as inalienable property listed in the church’s inventory which can be inspected (at any reasonable time). For anything prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial statements. Since then no individual item has cost more than £1,000 (see below). ## **Tangible fixed assets for use by the charity.** These are capitalized if they can be used for more than one year and cost more than £1,000, and are then depreciated over their useful economic life. However since 2000 no individual item has cost more than £1,000 and so all expenditure has been written off when incurred. **Fixed assets.** The property at Thorndales was sold in March 2019. **Investments** These are valued at market value at the year end. **Short term deposits** These are either cash held on deposit with the bank or CCLA. _Page 9_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **(e) Funds** **Unrestricted Funds** . These are income funds which are to be spent on the PCC’s general purposes. For Christ Church there is one unrestricted fund, the General Fund. **Designated Funds** . These are general funds set aside by the PCC for use in the future. Designated funds remain unrestricted and the PCC may move any surplus to other general funds. Designated funds are the Fabric Fund, the Memorial Fund and the investment of the sale proceeds of Thorndales. In the case of the latter the Diocese holds the funds as Custodian Trustee. **Restricted Funds.** These comprise (a) income from trusts and endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations and grants for a specific PCC activity intended by the donor. Any balance unspent at the end of the year is carried forward as a balance on that fund. The major restricted funds for Christ Church are the Aged and Infirm, Christ Church Centre and the Building Trust. The Sale of the Old Hall is held by the Diocese. **Endowment Funds.** These are funds, the capital of which must be retained either permanently or at the PCC’s discretion. The income derived from an endowment is to be used either as restricted or unrestricted funds depending on the purpose for which the fund was established in the first place. For Christ Church, endowments are the investments which are not part of the Aged and Infirm Fund. The dividend income is credited to the General Fund as the PCC consider it is spent in accordance with the purposes for which the funds were set up. _Page 10_ ## **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 2 (a). INCOME – 2020** |**Note**
**Donations and legacies**
Gift Aid – Bank
12
Gift Aid – Envelopes
12
Other planned giving
Loose plate collections
Donations appeals for external projects
Donations etc for Christ Church
Tax recoverable on Gift Aid
Legacies
Other funds generated
Car Park income
Total
**Charitable activities**
Fees for weddings and funerals
Church hall lettings
Total
**Other trading activities**
Christmas Market
Total
**Investments**
Dividends
Bank and building society interest
Total
**Other income**
Loan repayment to Diocese
Total
**INCOME TOTAL**|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**this year**
**Total**
**last year**
£
£
£
£
£
£
29,110
—
—
—
29,110
30,608
5,688
—
—
—
5,688
9,224
2,512
—
—
—
2,512
130
2,469
—
—
—
2,469
5,474
2,270
—
—
—
2,270
564
15,092
—
1,100
—
16,192
13,354
11,711
—
—
11,711
13,082
—
—
—
—
—
—
92
—
—
—
92
1,810
2,763
—
—
—
2,763
5,134| |---|---| ||71,707
—
1,100
—
72,807
79,380| ||42
—
—
—
42
1,097
1,235
—
—
—
1,235
9,521| ||1,277
—
—
—
1,277
10,618| ||20
—
—
—
20
2,007| ||20
—
—
—
20
2,007| ||10,069
—
4,070
—
14,139
10,130
20
100
—
120
178| ||10,089
100
4,070
—
14,259
10,308| ||—
—
683
—
683
684| ||—
—
683
—
683
684| ||83,093
100
5,853
—
89,046
102,997| _Page 11_ ## **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 2 (b). INCOME – 2019** |**Note**
**Donations and legacies**
Gift Aid – Bank
12
Gift Aid – Envelopes
12
Other planned giving
Loose plate collections
Donations appeals for external projects
Donations etc for Christ Church
Tax recoverable on Gift Aid
Legacies
Other funds generated
Car Park income
Total
**Charitable activities**
Fees for weddings and funerals
Church hall lettings
Total
**Other trading activities**
Christmas Market
Total
**Investments**
Dividends
Bank and building society interest
Total
**Other income**
Loan repayment to Diocese
Total
**INCOME TOTAL**|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**for 2019**
£
£
£
£
£
30,608
—
—
—
30,608
9,224
—
—
—
9,224
130
—
—
—
130
5,474
—
—
—
5,474
564
—
—
—
564
6,584
—
6,770
—
13,354
11,629
—
1,453
—
13,082
—
—
—
—
—
1,234
—
576
—
1,810
5,134
—
—
—
5,134| |---|---| ||70,581
—
8,799
—
79,380| ||1,097
—
—
—
1,097
9,521
—
—
—
9,521| ||10,618
—
—
—
10,618| ||2,007
—
—
—
2,007| ||2,007
—
—
—
2,007| ||5,088
—
5,042
10,130
45
133
—
178| ||5,133
133
5,042
—
10,308| ||—
—
684
—
684| ||—
—
684
—
684| ||88,339
133
14,525
—
102,997| _Page 12_ ## **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 3 (a). EXPENDITURE – 2020** |**OTE 3 (a). EXPENDITURE – 2020**|| |---|---| |**Note**
**Expenditure on charitable activities**
Giving – relief and development agencies
Home mission
Secular charities
Ministry parish share etc
Salary of parish administrator
5
Working expenses of incumbent
Parsonage house expenses
Church running – insurance
Church office – telephone
Organ / piano tuning
Church maintenance
Cleaning
Upkeep of services
Administration
Visiting speakers / locums
Church running – electric
Church running – gas
Church running – water
Organist
Centre Manager
5
Car Park extension
Printing and stationery
Transport costs
Total
**Other expenditure:**
Miscellaneous expenditure
**EXPENDITURE TOTAL**|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**this year**
**Total**
**last year**
£
£
£
£
£
£
—
—
—
—
—
579
1,598
—
—
—
1,598
664
1,300
—
—
—
1,300
1,012
65,470
—
—
—
65,470
62,083
6,490
—
—
—
6,490
6,490
—
—
—
—
—
700
—
—
—
—
—
222
2,610
—
—
—
2,610
2,560
69
—
—
—
69
66
648
—
—
—
648
742
276
—
276
13,901
2,902
—
—
—
2,902
3,149
422
—
—
—
422
705
964
—
—
—
964
1,347
—
—
—
—
—
50
1,228
—
—
—
1,228
1,749
1,597
—
—
—
1,597
2,210
130
—
—
—
130
140
630
—
—
—
630
3,030
—
—
—
—
—
—
—
—
—
—
—
20,452
844
—
—
—
844
1,905
—
—
443
—
443
2,134| ||87,178
—
443
—
87,621
125,890
—
—
—
—
—
7,932| ||87,178
—
443
—
87,621
133,822| _Page 13_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 3 (b). EXPENDITURE – 2019** |**Note**
**Expenditure on charitable activities**
Giving – relief and development agencies
Home mission
Secular charities
Ministry parish share etc
Salary of parish administrator
5
Working expenses of incumbent
Parsonage house expenses
Church running – insurance
Church office – telephone
Organ / piano tuning
Church maintenance
Cleaning
Upkeep of services
Administration
Visiting speakers / locums
Church running – electric
Church running – gas
Church running – water
Organist
Centre Manager
5
Car Park extension
Printing and stationery
Transport costs
Total
**Other expenditure:**
Miscellaneous expenditure
7a
**EXPENDITURE TOTAL**|**Unrestricted**
**Designated**
**Restricted**
**Endowment**
**Total**
**for 2019**
£
£
£
£
£
579
—
—
—
579
664
—
—
—
664
1,012
—
—
—
1,012
62,083
—
—
—
62,083
6,490
—
—
—
6,490
700
—
—
—
700
222
—
—
—
222
2,560
—
—
—
2,560
66
—
—
—
66
742
—
—
—
742
2,714
2,376
8,811
—
13,901
3,149
—
—
—
3,149
705
—
—
—
705
1,347
—
—
—
1,347
50
—
—
—
50
1,749
—
—
—
1,749
2,210
—
—
—
2,210
140
—
—
—
140
3,030
—
—
—
3,030
—
—
—
—
—
—
—
20,452
—
20,452
1,905
—
—
—
1,905
—
—
2,134
—
2,134
92,117
2,376
31,397
—
125,890
1,192
6,690
50
—
7,932
93,309
9,066
31,447
—
133,822| |---|---| _Page 14_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 4. ANALYSIS OF EXPENDITURE** ||2020|2019| |---|---|---| ||£|£| |Independent examiners remuneration|400|400| No trustee claimed any expenses in connection with their role as a trustee in either 2020 or 2019. ## **NOTE 5. STAFF COSTS** |Salaries and wages
Pension costs
Total|2020
£
8,320
333
8,653
|2019
£
8,320
333
8,653| |---|---|---| During the year the PCC employed and paid a Parish Administrator and a cleaner (both part time). No payment was large enough to attract social security costs. Both employees exercised their right in 2017 to opt into a workplace pension (see below). The third employee, the Centre Manager, is on long term sick leave and has not been paid since the end of July 2018. Fiona Townsend, the Parish Administrator, is the wife of Mark Townsend, a PCC Member. No other expenses were claimed by employees. The PCC has enrolled those employees who wish to be members of a workplace pension scheme into NEST. Contributions commenced in November 2017. This is a defined contribution scheme and so no liability will fall on the Trustees. Both employer and employee pay 4% into this scheme. ## **NOTE 6. ANALYSIS OF TRANSFER BETWEEN FUNDS** |Unrestricted|Unrestricted|Restricted| |---|---|---| ||£|£| |Transfer from Aged and Infirm to General|3,627|(3,627)| In view of the age profile of the congregation the PCC agreed to transfer the annual surplus on the Aged and Infirm Fund to the General Fund as a large part of the Church’s general activities relate to the elderly and infirm. ## **NOTE 7. FIXED ASSETS** |(a) Tangible assets
Valuation 1st January
Disposal proceeds
Revaluation in year
Valuation at end of year|2020
£
—

—
—
—|2019
£
287,500
(287,500)
—| |---|---|---| |||—| 50% share (with Diocese holding the other 50%) in 4 bed detached property at Thorndales. The property was sold on 18[th ] March 2019. The PCC invested its share of the proceeds after deduction of £6,690 sale costs. _Page 15_ ## **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ||2020|2019| |---|---|---| |(b) Investments|£|£| |Market value 1st January|435,668|113,568| |Purchases|—|294,889| |Disposals|—|(13,164)| |Gains/(losses)|3,814|40,375| |Market value 31st December|439,482|435,668| |The market value at the end of the year represents investments||for:| |Endowment Funds|33,144|32,607| |Housing Buildings Capital – Thorndales|322,954|302,174| |Restricted Funds|83,384|100,887| ||439,482|435,668| |**NOTE 8. CURRENT ASSETS**||| |Debtors|2020|2019| |Unrestricted Funds:|£|£| |Tax recoverable|1,874|2,089| |Prepayments|1,532|1,516| |Other|—|622| |Restricted:||| |Tax recoverable|—|325| |Total|3,406|4,552| ## **NOTE 9. LIABILITIES** |(a) Creditors falling due within 1 year||| |---|---|---| ||2020|2019| |Unrestricted Funds:|£|£| |Salaries and pensions|735|735| |Charitable donations|931|962| |Other|1,689|2,458| |Total|3,355|4,155| |(b) Creditors falling due after 1 year||| |Loan from Diocese re Parish Hall|22,564|23,247| In 1990 the proceeds from the sale of the parish Hall were paid over to the Diocese. These were immediately loaned back to the Parish to fund the internal reordering of the Church. The loan is interest free and is being paid back with annual instalments of £683.75 with final repayment due in 2053. _Page 16_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 10 (a). STATEMENT OF ASSETS AND LIABILITIES – 2020** ||**General**
**Designated**
**Restricted**
**Endowment**
**This year**
**Last year**| |---|---| |**Fixed assets – Investments**
Investments held by PCC
**Totals**
**Current assets - Cash at bank and in hand**
Aged and Infirm
General Fund
Building Trust Fund
Christ Church Centre
Fabric Fund
General Fund Deposit
Memorial Fund Deposit
CCLA Deposit Account 108001850D
**Totals**
**Current assets – Debtors**
Accounts Receivable
**Totals**
**Liabilities - Creditors: due within one year**
Accounts Payable
**Totals**
**Creditors falling due after one year**
Loans received
**Totals**
**Grand total**|**£**
**£**
**£**
**£**
**£**
**£**
—
322,954
83,384
33,144
439,482
435,668| ||**—**
**322,954**
**83,384**
**33,144**
**439,482**
**435,668**
—
—
3,030
—
3,030
3,030
8,914
—
—
—
8,914
18,047
—
—
12,096
—
12,096
10,671
—
—
201
—
201
201
—
559
—
—
559
459
20,845
—
—
—
20,845
12,832
—
1,188
—
—
1,188
1,188
—
—
19,132
—
19,132
18,449| ||**29,759**
**1,747**
**34,459**
—
**65,965**
**64,877**
3,406
—
—
—
3,406
4,552| ||**3,406**
**—**
—
**—**
**3,406**
**4,552**
(3,355)
—
**—**
—
(3,355)
(4,154)| ||**(3,355)**
**—**
**—**
**—**
**(3,355)**
**(4,154)**
(22,564)
—
—
—
(22,564)
(23,247)| ||**(22,564)**
**—**
**—**
**—**
**(22,564)**
**(23,247)**| ||**7,246**
**324,701**
**117,843**
**33,144**
**482,934**
**477,695**| _Page 17_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 10 (b). STATEMENT OF ASSETS AND LIABILITIES – 2019** ||**General**
**Designated**
**Restricted**
**Endowment**
**Total for**
**2019**| |---|---| |**Fixed assets – Investments**
Investments held by PCC
**Totals**
**Current assets - Cash at bank and in hand**
Aged and Infirm
General Fund
Building Trust Fund
Christ Church Centre
Fabric Fund
General Fund Deposit
Memorial Fund Deposit
CCLA Deposit Account 108001850D
**Totals**
**Current assets – Debtors**
Accounts Receivable
**Totals**
**Liabilities - Creditors: due within one year**
Accounts Payable
**Totals**
**Creditors falling due after one year**
Loans received
**Totals**
**Grand total**|**£**
**£**
**£**
**£**
**£**
—
302,174
100,887
32,607
435,668| ||**—**
**302,174**
**100,887**
**32,607**
**435,668**
—
—
3,030
—
3,030
18,047
—
—
—
18,047
—
—
10,671
—
10,671
—
—
201
—
201
—
459
—
—
459
12,832
—
—
—
12,832
—
1,188
—
—
1,188
—
—
18,449
—
18,449| ||**30,879**
**1,647**
**32,351**
—
**64,877**
4,227
—
325
—
4,552| ||**4,227**
**—**
**325**
**—**
**4,552**
(4,155)
—
**—**
—
(4,155)| ||**(4,155)**
**—**
**—**
**—**
**(4,155)**
(23,247)
—
—
—
(23,247)| ||**(23,247)**
**—**
**—**
**—**
**(23,247)**| ||**7,704 **
**303,821**
**133,563**
**32,607**
**477,695**| _Page 18_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 11 (a). SUMMARY OF FUND MOVEMENTS – 2020** ||**Opening**
**Incoming**
**Outgoing**
**Transfers**
**Gains/**
**losses**
**Closing**| |---|---| |**Unrestricted**
General fund
**Designated**
Fabric Fund
House – Buildings Capital
Memorial Fund
**Restricted**
Aged and Infirm Fund
Building Trust Fund
Christ Church Centre
Sale of old hall
**Endowment**
Endowment
**Grand total**|**£**
**£**
**£**
**£**
**£**
**£**
7,704
83,093
87,178
3,627
—
7,246| ||**7,704**
**83,093**
**87,178**
**3,627**
**—**
**7,246**| ||459
100
—
—
—
559
302,174
—
—
—
20,780
322,954
1,188
—
—
—
—
1,188| ||**303,821**
**100**
—
—
**20,780**
**324,701**| ||103,917
4,070
443
(3,627)
(17,503)
86,414
10,996
1,100
—
—
—
12,096
201
—
—
—
—
201
18,449
683
—
—
—
19,132| ||**133,563**
**5,853**
**443**
**(3,627)**
**(17,503)**
**117,843**| ||32,607
—
—
—
537
33,144| ||**32,607**
**—**
**—**
**—**
**537**
**33,144**| ||**477,695**
**89,046**
**87,621**
**—**
**3,814**
**482,934**| _Page 19_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** ## **NOTE 11 (b). SUMMARY OF FUND MOVEMENTS – 2019** ||**Opening**
**Incoming**
**Outgoing**
**Transfers**
**Gains/**
**losses**
**Closing**| |---|---| |**Unrestricted**
General fund
**Designated**
Fabric Fund
House – Buildings Capital
Memorial Fund
**Restricted**
Aged and Infirm Fund
Building Trust Fund
Christ Church Centre
Sale of old hall
**Endowment**
Endowment
**Grand total**|**£**
**£**
**£**
**£**
**£**
**£**
9,816
88,339
93,309
2,858
—
7,704| ||**9,816**
**88,339**
**93,309**
**2,858**
**—**
**7,704**| ||2,702
133
2,376
—
—
459
287,500
—
6,690
—
21,364
302,174
1,188
—
—
—
—
1,188| ||**291,390**
**133**
**9,066**
—
**21,364**
**303,821**| ||93,945
5,042
6,589
(2,858)
14,377
103,917
7,179
8,223
4,406
—
—
10,996
20,077
576
20,452
—
—
201
17,765
684
—
—
—
18,449| ||**138,966**
**14,525**
**31,447**
**(2,858)**
**14,377**
**133,563**| ||27,973
—
—
—
4,634
32,607| ||**27,973**
**—**
**—**
**—**
**4,634**
**32,607**| ||**468,145**
**102,997**
**133,822**
**—**
**40,375**
**477,695**| _Page 20_ **Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31[st] December 2020** |**NOTE**|**12. RELATED PARTIES**||| |---|---|---|---| |||2020|2019| |||£|£| |Giving|by Trustees|24,639|21,855| This is the giving by members of the PCC for the work of the Church excluding gift aid. ## **NOTE 13. FUNDS HELD BY DIOCESE** The Chelmsford Diocesan Board of Finance holds legal title as Custodian Trustee of the funds below. The management of the trust funds is the responsibility of the PCC as Managing Trustees. 2020 2019 £ £ **Parish hall loan repaid** 19,132 18,449 The funds have been placed in a dedicated deposit account managed by the CCLA. **Clerical assistance for the vicar** 2,520 2,358 The funds have been invested in the CCLA Church Board of Finance Church of England Investment Fund Income Shares. This fund is included within the figures in note 11 for Endowment Funds. **Sale of Thorndales** 322,954 302,174 The funds have been invested in the CCLA Church Board of Finance Church of England Investment Fund Income Shares. Income is accounted for in Christ Church’s accounts as follows: |2020|2019| |---|---| |£|£| |**Parish hall loan repaid**
100|130| |Deposit account interest is credited to the Fabric Fund.|| |**Clerical assistance for the vicar**
71|68| |Dividend income is credited to the General Fund.|| |**Sale of Thorndales**
9,047|4,456| |Dividend income is credited to the General Fund.|| _Page 21_