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2021-03-31-accounts

REGISTERED CHARITY NUMBER: 1164734

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

EMMANUEL CHURCH OXFORD

Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

EMMANUEL CHURCH OXFORD

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021

Page
Report of the Trustees 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 19
Detailed Statement of Financial Activities 20 to 21

EMMANUEL CHURCH OXFORD

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).

SENIOR LEADER'S OVERVIEW

Little did we know in April 2020 that an entire year of Covid disruption lay ahead of us. When the initial lockdown kicked we immediately and effectively switched to online pre-recorded services, home working and a greater dependence on smaller Connect Groups which met only on Zoom. We allocated the entire church down into groups of eight people and quickly trained and released a new group of leaders to care for each of these small groups. The initial take-up was remarkable with nearly 100% of the church community actively engaging in the new online programme.

During the first lockdown we also joined with our wider Catalyst Network of churches and together raised £650,000 to support our partner churches in poorer nations affected by the pandemic.

During the first lockdown we remained impressed at the energy and commitment levels of the church community, expressed in the twice-weekly Zoom Connect Group meetings and attendance to the online pre-recorded service. However, as the summer approached we observed a gradual but consistent slide in both energy and commitment levels. Participation in much of the online communities dropped-off.

During this period I spent much of my working week meeting, chatting and walking with individuals in the church. Each week I would contact and meet 10 - 12 people individually to walk and talk. Being forced to work more relationally and personally was a great encouragement to me and seemed to be effective in encouraging and supporting the individuals too.

Having recognized this we worked to stay more closely connected with our Small Group leaders, gathering every three weeks for encouragement and coaching. The participation levels stabilized during the autumn term and we attempted some community-building projects. We sought many more people to become involved in our pre-recorded services and continued to invest in our groups. We also raised the prayer meetings via Zoom with great success, seeing 60-70 people regularly gather for corporate prayer. Over the Christmas period we launched an Advent project producing a new video each day on Social Media, allowing forty individuals within Emmanuel to share and take part.

By the New Year, and with the arrival of the third lockdown, it became clear that the church was flagging. Many people were speaking of feeling low and tired. We decided at this point to move away from our dependance on pre-recorded services and to adopt a 'live' Zoom church instead. This proved to be life bringing. Each week 100+ people would choose to connect in this way. We offered live worship and preaching, open times for prayer and contributions, and a coffee time afterwards in breakout groups. In January we also visited every household in the church personally and gave the gift of a study book to each family. We also ran a 'Thank you' project - making visits and gifts to every key worker within the church. Two projects which seemed to be received well.

During this New Year period we also ran a Special Offering campaign to raise funds for the Covid crisis unfolding in India. Together we raised nearly £5,000 which we donated to our partner churches working in various places in that nation.

Sheffield and staff:

It was in July that we went ahead and sent our church-planting team to Sheffield to begin Emmanuel Church Sheffield. David May (staff elder) and his family, along with a few others from the church, were sent and prayed for. Our hopes for a large 'sending service' and Church Hog-Roast party were dashed due to Covid restrictions. We did what we could to send them well through our online service and Zoom meetings.

In releasing David May from the staff team we advertised, interviewed and recruited David Layen as his replacement. David started his employment with us in September and has proved to be a brilliant addition to the staff team.

Summary:

The year was tough, without doubt. The church proved itself to be strong relationally and, for the most part, resilient in its faith and commitment to God and the church family. The reality is that we are still to see the full impact of the year on our membership numbers and volunteer capacity but at this stage we remain optimistic that Emmanuel has done well during a unique and demanding season.

Matt Partridge

Page 1

EMMANUEL CHURCH OXFORD

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

OBJECTIVES AND ACTIVITIES Vision and Principal Activities

The main objectives of Emmanuel Church Oxford are the advancement of the Christian religion in accordance with its statement of beliefs and the relief of any charitable need as the Trustees shall determine.

As an outworking of these objectives, Emmanuel Church Oxford is working for the spiritual, social and cultural renewal of Oxford. As a church, we love Oxford and the creativity, beauty and diversity that can be found there. We think everything good points to the Creator who made it, and so we want to celebrate and support what's good about Oxford when we see it. And where things could be better we want to serve and support those who are working to improve them.

The church's strategy for working for the spiritual, social and cultural renewal of Oxford, and fulfilling its charitable objectives, focuses on the activities undertaken through its various ministry areas, taking into account the following overarching principles:

We are also passionate about working in partnership with other churches and organisations within Oxford and the UK. The groups we work with include:

Page 2

EMMANUEL CHURCH OXFORD

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

Public benefit

The church has been described as 'the largest co-operative society on earth that exists exclusively for the benefit of non-members'. This fits well with our public benefit policy and, when planning activities for the period and the services available to the local community, the Trustees ensure that they have due regard to the public benefit guidance published by the Charity Commission. The Trustees affirm their commitment to 'public benefit' and continue to see how this can be developed.

The vast majority of the church's meetings and events are open to the public and are publicised on our website and/or by email. Individuals in the church are encouraged to invite friends and family as it is a key aim of Emmanuel Church Oxford to attract new people into its various activities so that they can participate in and benefit from all that the church has to offer.

The great majority of the church's events and activities do not have a charge associated with them. When a charge has to be made, every effort is made (e.g. by using subsidies) to ensure that the cost does not exclude those from whom the activity would be especially beneficial.

ACHIEVEMENT AND PERFORMANCE

Review of the period's activities

During the period 1 April 2020 to 31 March 2021, the church undertook the following activities:

E mmanuel Church Sheffield

The church is very excited to have launched Emmanuel Church Sheffield ("ECS") in September 2020. ECS is led by Dave and Jude May who clearly heard God about moving to Sheffield and starting a church. Dave, Jude and their two boys, together with a team drawn from both inside and outside Emmanuel, moved to Sheffield in August 2020, ahead of the launch of ECS.

Whilst launching a church under Covid-19 restrictions has been incredibly challenging, God has been very faithful, and the team have done amazingly well and is now finally being able to enjoy meeting in-person.

ECS is, for the time being at least, being run as part of Emmanuel Church Oxford with the other elders of Emmanuel Church Oxford providing spiritual oversight. ECO took up a special offering for ECS during the 2019/20 financial year raising in excess of £60,000 which is currently covering ECS's running costs. The longer-term aim is that ECS becomes financially self-sufficient.

One Church, Two Sites

Emmanuel has in recent years been committed to a "One Church, Two Sites" model with two sites, one meeting in East Oxford and the other more centrally. Both sites would then meet together in one location on several occasions during each year.

However, whilst most services in the financial year covered by this report were online due to Covid-19 restrictions, the Trustees and Elders decided that where in-person meetings were possible during the year, it was prudent to meet at one location, Emmanuel's East Site, in order to run a sustainable model for the staff team. Multiple services were provided on each day to enable as many people as possible to attend and all Government Covid-19 restrictions were always complied with.

The Trustees and Elders have decided not to re-start the Central (North) Site before September 2021 at the earliest, with further discussions to take place to determine when it is possible to restart the "One Church, Two Sites" model.

Sunday Services

Our Sunday services provide an environment in which people can grow spiritually. Whilst most services have, by necessity, been online (whether via a pre-recorded stream or, more recently, via zoom) the church has maintained its aim to present a rounded teaching programme in keeping with the church's vision, and the church has also been served excellently by several visiting speakers.

The Trustees want to place on record their sincere thanks to the staff team who served the church so brilliantly in providing high quality weekly online services for both adults and children.

Our standard format of service comprises worship, notices and teaching. However, we have regularly celebrated communion, and held baby dedications and adult baptisms.

Whilst meeting in-person and online we have had times of corporate prayer and have heard from a number of our church family on various topics. Our Sunday services are open to everyone and, when we can meet in-person, a signing service is provided at our East Site and all our online services are fully subtitled for those who are hard of hearing.

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EMMANUEL CHURCH OXFORD

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

Children and Youth

Whether we are meeting in-person or online we want to make sure that Sundays are beneficial for everyone, not just adults. Children and young people are a crucial part of the life of the church.

Whilst Emmanuel's usual provision for Children and Youth has not been possible at the in-person meetings during the year covered by this report (although such provision has restarted since the end of the financial year), Ben Hamilton, our Children's and Youth Worker, has provided a high-quality weekly online service for children and a number of family-orientated services which has been very well received.

We are committed to nurturing and safeguarding our children and young people. All of our children's workers and youth workers are required to undergo a Disclosure and Barring Service Check and we have a comprehensive safeguarding policy which can be found at: www.emmanueloxford.org/assets/documents/Safeguarding-Policy.pdf

Connect Groups

As at 31 March 2021, we had nine Connect Groups each gathered around a common cause, be that a people, a place or a passion. Connect Groups are the primary way that we help people explore and deepen their faith and make a positive difference in their communities and are open to everyone. We are encouraged by the growing momentum which these groups have.

Prayer and Worship

Prayer and worship have been described as the engine room of church life and is an essential part of our faith and our church. Whilst a large amount of prayer is undertaken through our Connect Groups, we have also held online prayer meetings covering a wide range of topics. These have continued to be very significant times for the church.

We have also gathered for online worship evenings which are opportunities for an extended time of sung worship, as well as for those gathered to share how God may be guiding the church or individuals. Whilst the worship team is run on an audition basis and only open to those who are Christians and committed members of the church, all our prayer meetings and worship evenings are open to everyone.

The church has also run various 'learning communities' for people to develop their gifts in areas such as worship and prophecy.

Alpha

Emmanuel has run its first ever online Alpha course during the year which was an excellent time for those who do not have a Christian background to ask questions and discover more about the Christian faith.

Steps

Emmanuel has continued to provide the 'Steps' course, which is a 12-week course designed to help people find freedom from unhelpful patterns of thought or behaviour. The course was run online, well received and of great benefit to those who attended.

Social Action

We have continued to develop our social action initiatives, particularly in the following areas:

Stepping Out - we have continued with our podcast, "Stepping Out", which looks at putting our faith into action.

Debt help - as mentioned above, we continue to partner with five other churches in Oxford and Christians Against Poverty via the Oxford Churches Debt Centre to help people in Oxford out of debt. Staff from the debt centre and volunteers from our church contact people who are struggling with debt to offer practical support. This service is open to everyone.

Foodbank - we continue to contribute to the Oxford Community Emergency Foodbank as one of the partner churches. Donations are collected from the church family once a term.

Pastoring

As a church family, we want to take care of each other and help each other through life's challenges. We offer several ways for such support and encouragement to be provided, including Connect Groups, our Pastoral Team, prayer and ad-hoc and crisis support where required.

Students

We have a number of students who play an active role in several areas in the life of the church. We want to provide the best possible environment for students to make the most of their time in Oxford and help them to explore faith, build community and enjoy Oxford.

We continue run 'Student Night' on Thursdays, as this is the primary way that we hope to help students grow during their time at Emmanuel. This has largely been online, with in-person meet-ups as Covid restrictions have allowed. Due to these restrictions, we were not able to run a weekend away for our students during this year.

Page 4

EMMANUEL CHURCH OXFORD

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

Marriage

We have continued to give marriage preparation sessions for engaged couples throughout the period, in which those couples can discuss their relationship with a more experienced married couple in the church.

Serving

Throughout the year, we continued to have various serving teams which are a great way for people to get to know others in the church and to use their gifts and passions that God has given them. Our serving teams include:

Children - our children's teams serve our children on a Sunday whether we are meeting physically or online;

Setup - when meeting physically, the set-up team helps to get our venue ready for our Sunday services;

Welcome - when meeting physically the welcome team makes sure everyone feels welcome and comfortable at our Sunday services, and helps with communion and the offering;

Audio - the audio team runs the PA system, working with the worship team to make sure everyone can hear what's happening during our in-person Sunday services;

Visuals - the visuals team is responsible for displaying the song lyrics and other visuals during our physical Sunday services, setting up the projector and running the software;

Connect Group Leadership - this team is responsible for leading our Connect Groups and does an excellent job in making sure that the groups achieve their aims;

Specialist refugee teams - these teams are involved in serving refugees who have sought refuge in Oxford, particularly in relation to the national relocation programme for Syrian families and serving young men from Ethiopia and Eritrea.

Giving

Despite all the uncertainty caused by Covid-19 and the challenges that Emmanuel's congregation has faced, the church family has continued to be incredibly generous and giving has held up remarkably well, for which the Trustees and Elders are incredibly grateful, both to God and to Emmanuel's congregation.

The unrestricted giving for the year was £361k, of which £50k was designated towards the Emmanuel Church Sheffield church plant. In addition, a further £20k was raised from the congregation towards specific appeals, most significantly an appeal to support Covid-19 related projects overseas.

With reduced expenditure over the year due to restrictions on Sunday morning meetings and other events, the net surplus for the year was £46k. This gives us a strong platform to launch into the next financial year as activities and events start to open-up again. As shown in the accounts, the overall unrestricted surplus for the year was £47k, £7k of this balance relates to the designated fund for Emmanuel Church Sheffield and restricted funds of £1k were utilised in the year.

Catalyst Hub

We continue to support a 'hub' of Catalyst Churches (i.e. a number of churches in the Catalyst network whose leaders meet regularly to support and partner with each other). This support is both financial and through a significant amount of time given by Matt Partridge who leads this hub.

Impact of Covid-19 since the end of the financial year

Set out above is the impact on our Sunday Services and other meetings of Covid-19. The staff team are now back working in the Church offices, and we have not seen any additional impact from Covid-19 on Emmanuel's operations or finances since the end of the financial year.

As can be seen from the accounting figures, God has been incredibly faithful financially and the Trustees and Elders would like to also thank the great generosity of Emmanuel's members. For the first five months of the financial year beginning on 1 April 2021, giving has been maintained at previous levels (around £125k in total) resulting in a net surplus for the period of £9k. As more activities re-commence in the Autumn term, following the easing of Covid restrictions, this surplus is expected to decrease as expenditure rises in line with the financial budget for the year.

The Trustees continue to closely monitor the financial impact of Covid-19 and have drawn up a financial action plan to be implemented should the financial situation deteriorate dramatically.

FINANCIAL REVIEW

Reserves policy

The Trustees have a reserves policy and consider it prudent to maintain sufficient reserves, not invested in tangible assets but kept unrestricted, to enable the payment of normal running costs. This is set at three months' costs. The Trustees deemed it prudent during the period to again increase the amount of reserves as costs continued to rise. The church's finances are split over five bank accounts.

Page 5

EMMANUEL CHURCH OXFORD

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a constitution and constitutes a charitable incorporated organisation.

Trustees, Staff and Volunteers Trustees, Staff and Volunteers
Trustees
The Trustees set out below held office during the year 1 April 2020 to 31 March 2021:
Thomas Wilde Tom is a partner in a major UK law firm and is currently Chair of the Trustees.
Sarah Whitla Sarah is a Chartered Accountant and co-owns and manages a business consultancy firm.
Matthew Partridge Matt heads up the eldership and staff teams and brings both strategic and visionary leadership.
Timothy Brown Tim works in the Fundraising and Strategic Partnerships team for a global charity.
Daniel Farley Dan is a director at a leading gene and cell therapy company.

The power of appointment or removal of trustees rests with the Trustees and new trustees are selected from the church family. They are well known to the existing Trustees and have demonstrated a high level of commitment and dedication to the vision of the church by the way in which they model and live out the vision and values of the church. Prior to being appointed, any new trustees will meet with the Chair of Trustees and the Lead Elder in order to understand their responsibilities and the framework within which the church operates.

The Trustees meet bi-monthly, with the Trustees and Elders meeting together in the other months of the year. The Trustees retain responsibility for the overall strategic decisions of the Charitable Incorporated Organisation (CIO), and are responsible for approving budgets and monitoring on-going financial performance against those budgets. The Elders and those staff and volunteers overseeing different ministry areas within the church make day-to-day decisions on expenditure and activities.

Emmanuel Church Oxford is led by its Elders who provide the spiritual leadership of the church, including responsibility for maintaining the understanding of the Christian faith in accordance with the church's statement of beliefs and providing pastoral care of the church. The Elders are responsible for the day-to-day management of the church's various activities under the oversight of the Trustees. For the year 1 April 2020 to 31 March 2021 the Elders were Matt Partridge, David May (Emmanuel Church Oxford until 31 August 2020 and Emmanuel Church Sheffield from 1 September 2020) and Robert Grayson.

Staff and Volunteers

The church has a small staff team which as at 31 March 2021 comprised the following people:

Matthew Partridge Matt heads up the eldership and staff team and brings both strategic and visionary leadership. Matt also
serves the wider Catalyst family and supports several of their churches both in the UK and overseas.
David Layen Dave is a staff pastor, oversees the office team as well as many projects and ministries, and is part of
Emmanuel's pastoral team. Dave began working for Emmanuel on 1 September 2020.
David May Dave is an elder and, together with his wife Jude and their children, moved to Sheffield in August 2020
and launched Emmanuel Church Sheffield in September 2020.
Tom Holden Tom is our Operations, Communications and Media Manager and oversees Sunday teams, events and
Emmanuel's social media and online presence.
Ben Hamilton Ben is our Children's and Youth Worker and supports and grows our children's and youth work across
both sites when the church can meet physically, and online when it cannot.
Maddy Ellison Maddy is our Student and Worship Worker and is responsible for Emmanuel's student ministry
including providing pastoral support to Emmanuel's student community. Maddy also heads-up our
worship ministry.
Jenny Warwick Jenny is our book-keeper and finance administrator.

The work of Emmanuel Church Oxford relies on the commitment and hard work of its Elders, employed staff and many volunteers, as well as the sacrificial financial giving of church members. Whilst we have an excellent staff team, we could not achieve what we do without the large amount of time and energy invested by our volunteers.

Page 6

EMMANUEL CHURCH OXFORD

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Governance - Internal Controls and Risk Management

The Trustees have overall responsibility for the Emmanuel Church Oxford system of controls. Such a system can only provide reasonable and not absolute assurance against errors or frauds.

Emmanuel Church Oxford operates a budgeting system with an annual budget approved by the Trustees and any significant deviation from that budget is subject to specific approval by the Trustees. A financial reporting system compares actual income and expenditure with budgeted income and expenditure and the Trustees review management accounts on a monthly basis.

The Trustees are satisfied that systems are in place to monitor, manage and mitigate the church's exposure to major risks. They consider that maintaining the church's reserves at a minimum of three months' expenditure as recommended by the Charity Commission and reviewing internal controls and risks will provide the church with adequate resources in the event of adverse conditions. They also recognise that the nature of some of the church's work requires acceptance and management of some risks in order to achieve the charitable objectives of the church.

The Trustees regularly review any significant risks facing the church and this review will continue in the coming year.

All major insurable risks are subject to normal churches' and employers' insurance. Any contracts entered into on behalf of the church are reviewed before execution in order to ensure that they do not significantly impact the church's ability to fulfil its objectives.

Serious Incidents

The Trustees are pleased to confirm that there were no serious incidents during the period.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1164734

Principal address Second Floor 1-4 The Plain Oxford Oxfordshire OX4 1AS

Trustees Matthew Partridge Sarah Whitla Thomas Wilde Chair Timothy Brown Daniel Farley

Independent Examiner Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

Elders

Matthew Partridge David May (Emmanuel Church Oxford until 31 August 2020 and Emmanuel Church Sheffield from 1 September 2020) Robert Grayson

Website

www.emmanueloxford.org

Tom Wilde (Nov 9, 2021 11:19 GMT).............................................................................. Thomas Wilde - Trustee

Approved by order of the board of trustees on ............................................. and signed on its behalf by: Nov 10, 2021

Page 7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EMMANUEL CHURCH OXFORD

Independent examiner's report to the trustees of Emmanuel Church Oxford

I report to the charity trustees on my examination of the accounts of Emmanuel Church Oxford (the Trust) for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants, England and Wales which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

mwbrindley

mwbrindley (Nov 11, 2021 12:41 GMT)

Maurice Brindley BSc FCA Institute of Chartered Accountants, England and Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

Nov 11, 2021 Date: .............................................

Page 8

EMMANUEL CHURCH OXFORD

STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 31 March 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
360,288
Charitable activities
4
Church Activities
100
Catalyst Hub
-
Investment income
3
1,141
Other income
-
Total
361,529
EXPENDITURE ON
Charitable activities
5
Church Activities
314,315
Catalyst Hub
-
Total
314,315
NET
INCOME/(EXPENDITURE)
47,214
RECONCILIATION OF FUNDS
Total funds brought forward
193,433
TOTAL FUNDS CARRIED
FORWARD
240,647		 Restricted
funds
£
20,524
-
-
-
-
20,524
20,202
-
20,202
322
-
322		 Catalyst
Hub
£
-
-
107,918
-
-
107,918
-
109,302
109,302
(1,384)
37,521
36,137		 31.3.21
31.3.20
Total
Total
funds
funds
£
£
380,812
401,901
100
6,461
107,918
99,818
1,141
1,267
-
142
489,971
509,589
334,517
345,260
109,302
128,315
443,819
473,575
46,152
36,014
230,954
194,940
277,106
230,954

The notes form part of these financial statements

Page 9

EMMANUEL CHURCH OXFORD

BALANCE SHEET 31 March 2021

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
7,734
CURRENT ASSETS
Debtors
11
7,547
Cash at bank and in hand
233,707
241,254
CREDITORS
Amounts falling due within one year 12
(8,341)
NET CURRENT ASSETS
232,913
TOTAL ASSETS LESS
CURRENT LIABILITIES
240,647
NET ASSETS
240,647
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS
Th fiil ttt d b th Bd f Tt		 Restricted
funds
£
-
-
322
322
-
322
322
322
d thid f		 Catalyst
Hub
£
-
50
38,141
38,191
(2,054)
36,137
36,137
36,137
i
Nov		 31.3.21
Total
funds
£
7,734
7,597
272,170
279,767
(10,395)
269,372
277,106
277,106
240,647
36,459
277,106

10, 2021		 31.3.20
Total
funds
£
8,877
18,783
209,466
228,249
(6,172)
222,077
230,954
230,954
193,433
37,521
230,954
d

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

Tom Wilde (Nov 9, 2021 11:19 GMT)

............................................. Thomas Wilde - Trustee

Sarah Whitla (Nov 10, 2021 06:39 GMT)............................................. Sarah Whitla - Trustee

The notes form part of these financial statements

Page 10

EMMANUEL CHURCH OXFORD

CASH FLOW STATEMENT for the Year Ended 31 March 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period		 31.3.21
£
62,542
62,542
(979)
-
1,141
162
62,704
209,466
272,170		 31.3.20
£
26,988
26,988
(3,167)
344
1,267
(1,556)
25,432
184,034
209,466

The notes form part of these financial statements

Page 11

EMMANUEL CHURCH OXFORD

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 31 March 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Interest received
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 31.3.21
£
46,152
2,122
-
(1,141)
11,186
4,223
62,542		 31.3.20
£
36,014
2,214
(142)
(1,267)
(8,964)
(867)
26,988

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand 209,466 62,704 272,170
209,466 62,704 272,170
Total 209,466 62,704 272,170

The notes form part of these financial statements

Page 12

EMMANUEL CHURCH OXFORD

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements and assessment of going concern

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The financial statements are presented in sterling (£).

Critical accounting judgements and key sources of estimation uncertainty

In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.

Useful economic life of tangible fixed assets:

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office Equipment - 15% on reducing balance Audio Visual - 15% on reducing balance Computer equipment - 25% on cost

Taxation

The charity is exempt from tax on its charitable activities.

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

Financial instruments

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

continued...

Page 13

EMMANUEL CHURCH OXFORD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity contributes to pension schemes on behalf of eligible employees. Contributions payable are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

3.

4.

5.

Gifts
Specific Donations & Appeals
Corresponding Gift Aid
Special Offering Income
Donations for services to other organisations
INVESTMENT INCOME
Deposit account interest
INCOME FROM CHARITABLE ACTIVITIES
Activity
Fundraising Income
Church Activities
Students
Church Activities
Alpha & other courses
Church Activities
Discipleship & Connect Groups Church Activities
Jellytots
Church Activities
Children & Youth
Church Activities
Worship
Church Activities
Hub Income
Catalyst Hub
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Independent examiners fee		 31.3.21
£
270,242
32,995
65,936
9,925
1,714
380,812
31.3.21
£
1,141
31.3.21
£
-
-
-
100
-
-
-
107,918
108,018
31.3.21
£
2,400		 31.3.20
£
277,725
10,028
56,258
56,226
1,664
401,901
31.3.20
£
1,267
31.3.20
£
44
2,245
2,340
513
687
170
462
99,818
106,279
31.3.20
£
2,400

continued...

Page 14

EMMANUEL CHURCH OXFORD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

6. SUPPORT COSTS

7.

SUPPORT COSTS
Governance
costs
£
Church Activities 4,533
TRUSTEES' REMUNERATION AND BENEFITS
31.3.21 31.3.20
£ £
Trustees' salaries 56,174 53,680
Trustees' social security 6,126 5,803
Trustees' pensions paid 3,932 3,765
66,232 63,248

The Trustees consider the Key Management of the Charity to be the Elders. During the year the Trustees and Key Management received remuneration totalling £116,755 (2020: £110,093) of which £6,930 (2020: £6,630) related to pension contributions.

Re-location costs were also paid during the year on behalf of Mr May, a member of key management, to the value of £1,944.

Trustees' expenses

All expenses claimed by the Trustees and Key Management were directly relating to those of the Charity.

8. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
All staff		 31.3.21
£
200,597
15,576
11,287
227,460
31.3.21
6		 31.3.20
£
164,742
15,419
9,258
189,419
31.3.20
6

No employees received emoluments in excess of £60,000.

9.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
389,930
Charitable activities
Church Activities
6,461
Catalyst Hub
-
Investment income
1,267
Other income
142
Total
397,800
EXPENDITURE ON
Charitable activities
Church Activities
333,289		 Restricted
funds
£
11,971
-
-
-
-
11,971
11,971		 Catalyst
Hub
£
-
-
99,818
-
-
99,818
-		 Total
funds
£
401,901
6,461
99,818
1,267
142
509,589
345,260

Page 15

continued...

EMMANUEL CHURCH OXFORD

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2021

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
funds
£
Catalyst Hub
-
Total
333,289
NET INCOME/(EXPENDITURE)
64,511
RECONCILIATION OF FUNDS
Total funds brought forward
128,922
TOTAL FUNDS CARRIED FORWARD
193,433
10.
TANGIBLE FIXED ASSETS
Office
Equipment
£
COST
At 1 April 2020
1,648
Additions
-
At 31 March 2021
1,648
DEPRECIATION
At 1 April 2020
356
Charge for year
194
At 31 March 2021
550
NET BOOK VALUE
At 31 March 2021
1,098
At 31 March 2020
1,292
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Deposits
Gift Aid
Prepayments		 Restricted
Catalyst
Total
funds
Hub
funds
£
£
£
-
128,315
128,315
11,971
128,315
473,575
-
(28,497)
36,014
-
66,018
194,940
-
37,521
230,954
Audio
Computer
Visual
equipment
Totals
£
£
£
9,825
4,921
16,394
-
979
979
9,825
5,900
17,373
3,321
3,840
7,517
976
952
2,122
4,297
4,792
9,639
5,528
1,108
7,734
6,504
1,081
8,877
31.3.21
31.3.20
£
£
275
-
1,100
1,200
5,179
13,415
1,043
4,168
7,597
18,783

Page 16

continued...

EMMANUEL CHURCH OXFORD

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2021

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21 31.3.20
£ £
Taxation and social security 5,729 3,771
Other creditors 4,666 2,401
10,395 6,172

13. MOVEMENT IN FUNDS

Unrestricted funds
General fund
FP Impact
Sheffield
Restricted funds
Appeals Fund
Catalyst Hub
Ukraine
TOTAL FUNDS		 Net
movement
At 1.4.20
in funds
£
£
142,851
39,434
4,356
-
46,226
7,780
193,433
47,214
-
47
37,521
(1,384)
-
275
37,521
(1,062)
230,954
46,152		 Transfers
between
funds
£
2,356
(4,356)
2,000
-
-
-
-
-
-		 At
31.3.21
£
184,641
-
56,006
240,647
47
36,137
275
36,459
277,106

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Sheffield
Restricted funds
Appeals Fund
Catalyst Hub
Ukraine
TOTAL FUNDS		 Incoming
resources
£
311,519
50,010
361,529
20,249
107,918
275
128,442
489,971		 Resources
Movement
expended
in funds
£
£
(272,085)
39,434
(42,230)
7,780
(314,315)
47,214
(20,202)
47
(109,302)
(1,384)
-
275
(129,504)
(1,062)
(443,819)
46,152

continued...

Page 17

EMMANUEL CHURCH OXFORD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
FP Impact
Sheffield
Restricted funds
Catalyst Hub
TOTAL FUNDS		 Net
movement
At 1.4.19
in funds
£
£
123,328
65,749
5,594
(1,238)
-
-
128,922
64,511
66,018
(28,497)
194,940
36,014		 Transfers
between
funds
£
(46,226)
-
46,226
-
-
-		 At
31.3.20
£
142,851
4,356
46,226
193,433
37,521
230,954

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
FP Impact
Restricted funds
Appeals Fund
Catalyst Hub
TOTAL FUNDS		 Incoming
resources
£
397,800
-
397,800
11,971
99,818
111,789
509,589		 Resources
Movement
expended
in funds
£
£
(332,051)
65,749
(1,238)
(1,238)
(333,289)
64,511
(11,971)
-
(128,315)
(28,497)
(140,286)
(28,497)
(473,575)
36,014

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
FP Impact
Sheffield
Restricted funds
Appeals Fund
Catalyst Hub
Ukraine
TOTAL FUNDS		 Net
movement
At 1.4.19
in funds
£
£
123,328
105,183
5,594
(1,238)
-
7,780
128,922
111,725
-
47
66,018
(29,881)
-
275
66,018
(29,559)
194,940
82,166		 Transfers
between
funds
£
(43,870)
(4,356)
48,226
-
-
-
-
-
-		 At
31.3.21
£
184,641
-
56,006
240,647
47
36,137
275
36,459
277,106

continued...

Page 18

EMMANUEL CHURCH OXFORD

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
FP Impact
Sheffield
Restricted funds
Appeals Fund
Catalyst Hub
Ukraine
TOTAL FUNDS		 Incoming
resources
£
709,319
-
50,010
759,329
32,220
207,736
275
240,231
999,560		 Resources
Movement
expended
in funds
£
£
(604,136)
105,183
(1,238)
(1,238)
(42,230)
7,780
(647,604)
111,725
(32,173)
47
(237,617)
(29,881)
-
275
(269,790)
(29,559)
(917,394)
82,166

The restricted fund is made up of the following three funds:

Appeals Fund Money given to support external appeals and relief funds.

Catalyst Hub Money held on behalf of a group (or Hub) of churches within the Catalyst Network - the Hub is led by Matt Partridge. Income is received from the various churches belonging to the Hub and is used to fund mission projects and to cover the costs of their meetings.

Ukraine Money given by church members specifically to support a church in the Ukraine with whom we have links via the Catalyst Hub.

The unrestricted funds includes the following designated funds: FP Impact Project Money allocated to fund Impact Project Gap Years Sheffield Fund Money allocated to fund the Emmanuel Church Sheffield church-plant launching in September 2020. Initial seed-funding designated from the 2020 special offering.

14. RELATED PARTY DISCLOSURES

During the year £480 was paid to Louise Grayson, the spouse of a trustee, in respect of support provided to a member of the congregation

During 2020 £188 was paid for Hall Hire to Barton Community Association for which D Farley is a trustee and £175 was paid to J May, the spouse of a member of key management, for design work completed. No such payments were made in 2021.

These transactions were completed at or lower than market value.

There are no further Related Party Transactions.

Page 19