**REGISTERED CHARITY NUMBER: 1173041** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **FOR** ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** TaxAssist Accountants 1 Rosemont Road London NW3 NG **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ||**Page**| |---|---| |**Reference and Administrative Details**|1| |**Report of the Trustees**|2 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Balance Sheet**|6| |**Notes to the Financial Statements**|7 to 18| |**Detailed Statement of Financial Activities**|19| 10 April 2021 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **TRUSTEES** A Barrie A De Souza A Fenton A Lebedev B Jenkins (appointed 9.11.20) C Dimond C Fulton C McCabe E Perkins H Jenkins (resigned 9.11.20) I Johnson J Dalton L Maunder L Tomita (resigned 1.9.20) M O’Donoghue M Harris M Monaghan (resigned 9.11.20) N Marsh R Heffner R Powell R Winkler S Down (resigned 1.10.20) S Tett T Ravalde **PRINCIPAL ADDRESS** Victoria Rd, Kensington London W8 5RQ **REGISTERED CHARITY NUMBER** 1173041 ## **INDEPENDENT EXAMINER** TaxAssist Accountants 1 Rosemont Road London NW3 NG Page 1 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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). ## **OBJECTIVES AND ACTIVITIES Objectives and aims** The church's objects are - Regular public worship open to all. - The provision of sacred space for personal prayer and contemplation. - Pastoral work, including visiting the sick and the bereaved. - Teaching of Christianity through sermons, courses and small groups. - Taking of religious assemblies in schools. - The provision of a youth club with a Christian ethos. - Promotion of Christianity through the staging of events. There has been no change in the policies adopted to meet these objectives during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the church should undertake. Our Current reserves policy also states that we need to have 3 months operating costs in reserve. ## **FINANCIAL REVIEW** ## **Financial position** It is the policy of the church that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the church’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have assessed the major risks to which the church is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Page 2 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020** The charity's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU). The charity's current policy concerning the payment of trade creditors is to: - settle the terms of payment with suppliers when agreeing the terms of each transaction; - ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and - pay in accordance with the charity's contractual and other legal obligations. Trade creditors of the organisation at the year-end were immaterial based on the average daily amount invoiced by suppliers during the year. Approved by order of the board of trustees on ............................................. and signed on its behalf by: 10 April 2021 .................................................................................. I Johnson - Trustee Page 3 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** We report to the trustees on our examination of the accounts of The Parochial Church Council of the Ecclesiastical Parish of Christ Church, Kensington for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the trustees of the church, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). We report in respect of our examination of the church’s financial statements carried out under section 145 of the 2011 Act. In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the church’s gross income exceeded £250,000 your examiner must be a member of a body listed section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of CIMA, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. We understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. We have completed our examination. We can confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect: 1 accounting records were not kept in respect of the church as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or 3 the financial statements 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. We 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 financial statements to be reached. Chartered Management Accountant Independent Examiner TaxAssist Accountants 1 Rosemont Road London NW3 NG Date: ............................................. 10 April 2021 Page 4 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** ||||||31.12.20|31.12.19| |---|---|---|---|---|---|---| |||Unrestricted|Restricted|Endowment|Total|Total| |||fund|fund|fund|funds|funds| ||Notes|£|£|£|£|£| |**INCOME AND ENDOWMENTS**||||||| |**FROM**||||||| |Donations and legacies||588,128|5,716|-|593,844|444,650| |**Charitable activities**|5|||||| |Sales within charitable activity||3,674|-|-|3,674|34,712| |Other trading activities|3|49,496|-|-|49,496|78,346| |Investment income|4|154|-|916|1,070|2,031| |**Total**||641,452|5,716|916|648,084|559,739| |**EXPENDITURE ON**||||||| |Charitable activities|6|473,563|3,966|-|477,529|482,997| |Other|7|57,804|4,487|1,874|64,165|140,690| |**Total**||531,367|8,453|1,874|541,694|623,687| |**NET INCOME/(EXPENDITURE)**||110,085|(2,737)|(958)|106,390|(63,948)| |**RECONCILIATION OF FUNDS**||||||| |**Total funds brought forward**||378,567|292,205|202,308|873,080|937,030| |**TOTAL FUNDS CARRIED**||||||| |**FORWARD**||488,652|289,468|201,350|979,470|873,082| ## **CONTINUING OPERATIONS** All income and expenditure have arisen from continuing activities. The notes form part of these financial statements Page 5 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **BALANCE SHEET 31 DECEMBER 2020** |31.12.20
Notes
£
**FIXED ASSETS**
Tangible assets
11
347,846
**CURRENT ASSETS**
Debtors: amounts falling due within one year
12
24,761
Debtors: amounts falling due after more than one year
12
3,349
Cash at bank
626,203
654,313
**CREDITORS**
Amounts falling due within one year
13
(22,689)
**NET CURRENT ASSETS**
631,624
**TOTAL ASSETS LESS CURRENT LIABILITIES**
979,470
**NET ASSETS**
979,470
**FUNDS**
15
Unrestricted funds:
General fund
488,652
Restricted funds:
Restricted Fund
289,468
Endowment funds:
Endowment
201,350
**TOTAL FUNDS**
979,470

10 April 2021|31.12.19
£
352,948
17,133
15,775
506,309
539,217
(19,083)
520,134
873,082
873,082
378,568
292,206
202,308
873,082
| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. I Johnson - Trustee The notes form part of these financial statements Page 6 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES** ## **ACCOUNTING CONVENTION** The financial statements have been prepared in accordance with the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The church is a Public Benefit Entity as defined by FRS 102. The church has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the church. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **INCOMING RESOURCES** Income is recognised when the church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. ## **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. continued... Page 7 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES - continued** ## **TANGIBLE FIXED ASSETS** Freehold property - not provided Fixtures and fittings - 10% on cost Computer equipment - 33% on cost Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. ## **TAXATION** The charity is exempt from tax on its charitable activities. ## **FUND ACCOUNTING** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 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 operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **GOING CONCERN** At the time of approving the financial statements, the trustees have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **IMPAIRMENT OF NON-CURRENT ASSETS** At each reporting end date, the church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **CASH AND CASH EQUIVALENTS** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **FINANCIAL INSTRUMENTS** continued... Page 8 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES - continued** The church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised in the church's balance sheet when the church becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## **BASIC FINANCIAL ASSETS** Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## **BASIC FINANCIAL LIABILITIES** Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **DERECOGNITION OF FINANCIAL LIABILITIES** Financial liabilities are derecognised when the church’s contractual obligations expire or are discharged or cancelled. ## **EMPLOYEE BENEFITS** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the church is demonstrably committed to terminate the employment of an employee or to provide termination benefits. continued... Page 9 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES - continued** ## **2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** In the application of the church’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3. OTHER TRADING ACTIVITIES** ## **4.** |**OTHER TRADING ACTIVITIES**||| |---|---|---| ||31.12.20|31.12.19| ||£|£| |Fundraising events|49,496|78,346| |**INVESTMENT INCOME**||| ||31.12.20|31.12.19| ||£|£| |Interest receivable - trading|1,070|2,031| continued... Page 10 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **5. INCOME FROM CHARITABLE ACTIVITIES** |||31.12.20|31.12.19| |---|---|---|---| ||Activity|£|£| |Sales within charitable activity|Sales within charitable activity|3,674|34,712| |**CHARITABLE ACTIVITIES**|||| |**OTHER TRADING ACTIVITIES**|||| |||31.12.20|31.12.19| |||£|£| |Other trading activities||137,105|219,417| |Staff costs||335,323|258,479| |Depreciation||5,101|5,101| |||477,529|482,997| |**OTHER**|||| |||31.12.20|31.12.19| |||£|£| |Other Expenditure||64,165|140,690| ## **6. CHARITABLE ACTIVITIES** ## **OTHER TRADING ACTIVITIES** ## **7.** ## **8. TRUSTEES' REMUNERATION AND BENEFITS** Five trustees (or any persons connected with them) received remuneration or benefits from the church during the year. ## **TRUSTEES' EXPENSES** There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. continued... Page 11 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **9. STAFF COSTS** ||31.12.20|31.12.19| |---|---|---| ||£|£| |Wages and salaries|327,937|253,384| |Other pension costs|7,386|5,095| ||335,323|258,479| |The average monthly number of employees during the year was as follows:||| ||31.12.20|31.12.19| |Employees|8|7| |No employees received emoluments in excess of £60,000.||| |**10.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
Endowment
fund
fund
fund
£
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
426,063
18,587
-
**Charitable activities**
Sales within charitable activity
34,712
-
-
Other trading activities
76,744
1,602
-
Investment income
422
-
1,609
**Total**
537,941
20,189
1,609
**EXPENDITURE ON**
Charitable activities
429,737
53,260
-
Other
80,686
60,004
-
**Total**
510,423
113,264
-
**NET INCOME/(EXPENDITURE)**
27,518
(93,075)
1,609|Total
funds
£
444,650
34,712
78,346
2,031
559,739
482,997
140,690
623,687
(63,948)| |---|---| continued... Page 12 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** |**10.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
Endowment
fund
fund
fund
£
£
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
351,050
385,281
200,699
**TOTAL FUNDS CARRIED FORWARD**
378,568
292,206
202,308
**11.**
**TANGIBLE FIXED ASSETS**
Fixtures
Freehold
and
Computer
property
fittings
equipment
£
£
£
**COST**
At 1 January 2020 and 31 December 2020
320,125
48,454
2,623
**DEPRECIATION**
At 1 January 2020
-
15,888
2,366
Charge for year
-
4,846
256
At 31 December 2020
-
20,734
2,622
**NET BOOK VALUE**
At 31 December 2020
320,125
27,720
1
At 31 December 2019
320,125
32,566
257|Total
funds
£
937,030
873,082
Totals
£
371,202
18,254
5,102
23,356
347,846
352,948| |---|---| continued... Page 13 ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||||||||31.12.20|31.12.19| |---|---|---|---|---|---|---|---|---| ||||||||£|£| ||Trade debtors||||||4,403|6,883| ||Prepayments||||||20,358|10,250| ||||||||24,761|17,133| |**13.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN**||**ONE YEAR**|||||| ||||||||31.12.20|31.12.19| ||||||||£|£| ||Trade creditors||||||3,377|18,683| ||Other creditors||||||19,312|400| ||||||||22,689|19,083| |**14.**|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**|||||||| ||||||||31.12.20|31.12.19| |||Unrestricted|Restricted||Endowment||Total|Total| |||fund|fund||fund||funds|funds| |||£|£||£||£|£| ||Fixed assets|347,846||-||-|347,846|352,948| ||Current assets|163,495|289,468||201,350||654,313|539,217| ||Current liabilities|(22,689)||-||-|(22,689)|(19,083)| |||488,652|289,468||201,350||979,470|873,082| continued... Page 14 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**Endowment funds**
Endowment
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**Endowment funds**
Endowment
**TOTAL FUNDS**|Net
movement
At
At 1.1.20
in funds
31.12.20
£
£
£
378,567
110,085
488,652
292,205
(2,737)
289,468
202,308
(958)
201,350
873,080
106,390
979,470
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
641,452
(531,367)
110,085
5,716
(8,453)
(2,737)
916
(1,874)
(958)
648,084
(541,694)
106,390| |---|---| Page 15 continued... **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**Endowment funds**
Endowment
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**Endowment funds**
Endowment
**TOTAL FUNDS**|Net
movement
At
At 1.1.19
in funds
31.12.19
£
£
£
351,050
27,518
378,568
385,281
(93,075)
292,206
200,699
1,609
202,308
937,030
(63,948)
873,082
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
537,941
(510,423)
27,518
20,189
(113,264)
(93,075)
1,609
-
1,609
559,739
(623,687)
(63,948)| |---|---| Page 16 continued... **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **15. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**Endowment funds**
Endowment
**TOTAL FUNDS**|Net
movement
At
At 1.1.19
in funds
31.12.20
£
£
£
351,050
137,603
488,653
385,281
(95,812)
289,469
200,699
651
201,350
937,030
42,442
979,472| |---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|1,179,393|(1,041,790)|137,603| |**Restricted funds**|||| |Restricted Fund|25,905|(121,717)|(95,812)| |**Endowment funds**|||| |Endowment|2,525|(1,874)|651| |**TOTAL FUNDS**|1,207,823|(1,165,381)|42,442| continued... Page 17 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020** ## **16. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2020. ## **17. FINANCIAL INSTRUMENTS** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**Carrying amount of financial assets**||| |Debt instruments measured at amortised cost|7,751|22,658| |**Carrying amount of financial liabilities**||| |Measured at amortised cost|23,989|19,083| Page 18 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHRIST CHURCH, KENSINGTON** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020** ||31.12.20|31.12.19| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Non gift aid donation & Grants|284,254|116,781| |Donations|154,715|226,748| |Collection at Services|79,122|48,877| |Donated services and facilities|75,753|52,244| ||593,844|444,650| |**Other trading activities**||| |Fundraising events|49,496|78,346| |**Investment income**||| |Interest receivable - trading|1,070|2,031| |**Charitable activities**||| |Sales within charitable activity|3,674|34,712| |**Total incoming resources**|648,084|559,739| |**EXPENDITURE**||| |**Other trading activities**||| |Charitable Expenditure|137,105|219,417| |Wages|327,937|253,384| |Pensions|7,386|5,095| |Fixtures and fittings|4,845|4,845| |Computer equipment|256|256| ||477,529|482,997| |**Other**||| |Other Expenditure|64,165|140,690| |Total resources expended|541,694|623,687| |**Net income/(expenditure)**|106,390|(63,948)| This page does not form part of the statutory financial statements Page 19