## TRUSTEES ANNUAL REPORT and FINANCIAL STATEMENTS ## **Parochial Church Council of the Ecclesiastical Parish of Emmanuel Church, Woodley** For the year ended 31 December 2020 Registered Charity Number: 1175550 **Emmanuel Church PCC | Woodley** ## TRUSTEES ANNUAL REPORT The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the parochial church council’s governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102)(effective 1 January 2019). ## **Aim and purposes** Emmanuel Church’s Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, the Reverend Sean Riordan, 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 Emmanuel Church Centre building in Southlake Crescent. Woodley, Reading. ## **Objectives and activities** The PCC is committed to furthering the vision of Emmanuel which is “to impact and influence our community with the good news of Jesus”. We are focused on putting our faith into practice and reaching out to everyone, regardless of race, ethnicity, religion, sexuality or gender. We seek to serve through practical help like putting on clubs and events for different ages and interests, through visiting, through the provision of food and offering training and skills courses. We also seek to be a spiritual hub for the community with regular worship and prayer. This work has expanded significantly over the last few years and so to facilitate this work further, it is important that we maintain the fabric of the Emmanuel Church Centre. ## ACHIEVEMENTS AND PERFORMANCE ## **Pandemic Impact** In common with so many other organizations, all our hopes and plans for 2020 had to be dramatically re-adjusted in the light of the Covid-19 pandemic and the accompanying lockdowns. Many of our “bread and butter” activities in the community had to be stopped or curtailed. Nevertheless, there have been some encouragements and reasons for being optimistic about the future in 2021. ## **Public Benefit** The PCC members have paid due regard to the guidance on public benefit issued by the Charity Commission. The PCC members have assessed the major risks to which the parochial church council is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. 2 ## **Emmanuel Church PCC | Woodley** ## **Highlights** - The commencement of building works for our major new extension, “The Emmanuel Neighbourhood Centre”, was signed off by the PCC and works began in August. See section below for more details. - In July we ran a homework club for children and young people in our area whose schooling had been adversely affected by the pandemic. It offered one to one support for 8 individuals and was supported by schools and social services in our area. - Emmanuel partnered with a community group called Woodley Lunch Bunch, offering free lunches to children and families who were finding finances very tight during school holidays in summer, autumn half term and Christmas. Around 60 lunches were delivered each day. **----- Start of picture text -----**
Homework Club
**----- End of picture text -----**
- We relocated our portacabins in advance of building works commencing. They were redecorated by members of our church including our youth group. They are now used as a temporary hub for Woodley foodbank which is open 5 mornings a week and a storage base for Woodley Lunch Bunch. - Our youth pastor continued to provide effective ministry and support to our young people in the church and community. - We appointed a 1 day per week families outreach worker to build relationships with parents and children in our community. The post began in January 2020 and ran until the end December. - We run a very popular midweek toddlers group with an average of 40 children and 40 carers each time. This was suspended at the end of March due to the pandemic. - We run Fusion, a weekly after school club for upper primary age with about 1620 children each week. This was suspended indefinitely at the end of March due to the pandemic. - There is an award-winning puppet team that meets to practice and pray weekly, mainly composed of children aged 11-16. They continued to meet to practice and support one another online and have played a valuable role in children’s work and online services since lockdown. - Despite the significant loss of earnings from church hall bookings, we benefited from the government furlough scheme for our cleaner and families worker and from the continued generosity of our regular givers. We were extremely grateful to finish the year with just a small deficit in our general fund. 3 ## **Emmanuel Church PCC | Woodley** - In November we raised over £58,000 from a congregational gift day for our neighbourhood centre project. This was a wonderful result. - In response to the pandemic, our PCC voted to create a new ‘helping hands fund’ to assist local people suffering because of the impact of Covid-19. ## **Worship and Prayer** Pre-pandemic, there were about 170 adults and children who attend Emmanuel at least once a month. This number has risen from about 150 three years ago. Our usual Sunday morning attendance was just over 100 (of which 1/3[rd] are under 16), plus a further 15 teenagers in the evening. During 2020 the church invested in new digital technology. During the first lockdown a weekly pre-recorded service was produced and edited. The service was broadcast on Sunday morning at 10.30am using Facebook Live. This significantly grew the church’s digital footprint and resulted in some new people joining the congregation. In the second national lockdown we moved to a livestreamed service from our main hall and have continued to provide that as a resource as restrictions are lifted. We believe that by adapting quickly to the various lockdown restrictions, we have enabled most, if not all, of our congregation to continue to worship throughout the pandemic. ## Sunday service: - 10.30 main service – including (pre-lockdown) Holy Communion once a month and an All-Age service once a month. Very informal style, band-led worship. We have 4 different groups for children and young people groups running during the main service. - During the first lockdown we pre-recorded services and streamed them as events going live on Facebook. We returned to numbers-limited in-person services from September to early December and re-established a small children’s group and monthly all age services. We simultaneously livestreamed these services via Facebook. In the last weeks of the year, we changed to livestreaming only in the light of the second wave of the corona virus. ## Weekday service: - Thursday Holy Communion 9.45 (BCP). This has remained suspended indefinitely since the initial lockdown. We would normally celebrate a number of baptisms and dedications throughout the year, both for children, teenagers and adults – this was not possible in 2020. Although we are not a licenced building for weddings, our minister shares the Church of England weddings in Woodley with the other Anglican priests. Likewise, we share responsibility for funerals for Woodley residents. 4 ## **Emmanuel Church PCC | Woodley** ## **Electoral Roll** Our revised electoral role was completed in September 2020. There are 85 parishioners on the Church Electoral Roll, 59 of whom are not resident within the parish. 8 names were added during the year and 10 were removed, the majority because they moved away from the parish or had stopped attending church for over 6 months. ## CHURCH BUILDING ## **Emmanuel Church Centre** We hire out the hall and other rooms on a not-for-profit basis to a number of local groups and societies (dance groups, exercise groups, dog training club, toddler groups etc.), as well as to private individuals for children’s parties. We estimate that currently around 350-400 people enter the church building each week, about 50% of whom do not attend church services. Due to lockdown, most of our hall bookings, both church and community orientated, were suspended during the year. We opened for some bookings between September and November, but these had to be put on hold again as the second wave of the virus emerged. ## **Emmanuel Neighbourhood Centre (Community Building Project)** In March, the PCC took the decision to authorise the building of our new Neighbourhood Centre to begin, with finances and progress being carefully monitored by the building team, who in turn reported and were accountable to the PCC. The existing portacabins on site were moved to the car park side of the building and were externally painted with colourful land and seascapes by members of our church. They continue to be used as the town’s foodbank centre and for storage. Our contractor began the building work in August with a scheduled completion of August 2021. _Neighbourhood Centre progress early Sept 2020_ 5 ## **Emmanuel Church PCC | Woodley** _Neighbourhood Centre progress Oct 2020 Neighbourhood Centre progress end of December 2020_ This project will increase our surface area by over 50% and we plan to use it to make a step change in our community engagement and mission. We will be able to host the Woodley foodbank that gives out about 70 parcels a month. We plan to offer many community enhancing activities including a café for older and younger people to encounter and enrich each other through friendship, helping to tackle isolation. Provide life skills, money management, job support, recycle café, metal health wellbeing support group and a community garden project. The space will be suitable for community groups and for small meetings such as counselling sessions. We foresee the growth of our children’s and youth ministries. The project will provide vastly improved facilities that will directly enhance local social cohesion and engagement. Our desire is to partner more with the community, building on the relationships already established with those who use the centre. We are in an ideal position and have a real passion to help address the challenges currently faced by our local neighbourhood. ## FINANCE & GOVERNANCE ## **Deanery Synod** Two members of the PCC plus clergy sit on the deanery synod. This provides the PCC with an important link between the parish and the wider structures of the church. ## **Financial Review** Total receipts on unrestricted funds were £97,959 (2019: £119,602) of which £64,523 (2019: £67,731) was unrestricted voluntary donations and a further £15,582 (2019: £13,740) was from Gift Aid. Restricted income of £179,508 (2019: £49,167) was also received which is detailed in the Financial Statements. Unrestricted planned giving through standing orders decreased by 3% to £63,478 (2019: £65,768). With the associated Gift Aid tax recoverable our regular unrestricted planned giving continues to make up over 82% of our unrestricted income. £99,062 (2019: £113,788) was spent from unrestricted funds to provide the Christian ministry from Emmanuel Church, including the £56,561 (2019: £52,066) contribution 6 ## **Emmanuel Church PCC | Woodley** to the diocesan parish share. The parish share increased by 8.6% in the year and largely provides the stipends and housing for the clergy. The sum that the churches in the deanery have to find is shared between the churches according to a formula that is based mainly on a head count of the congregation. It does not take into account the deprived area in which Emmanuel Church Centre is located. £23,616 (2019: £11,744) was given from restricted funds. £15,907 (2019: £13,240) was given in total from restricted and unrestricted funds to support local projects & mission partners. The net result for the year after fund transfers was a deficit of £757 (2019: £2,361) on unrestricted funds. The net result for restricted funds was an inflow of £158,092 (2019: £37,494). The net result for designated funds was an (outflow)/inflow of £(2,150) (2019: £8,104). Including balances brought forward at the beginning of the year, the balances carried forward at 31st December on unrestricted funds totalled £41,097 (2019: £41,854) together with a balance of £23,284 (2019: £25,434) on the designated fund. Restricted funds ended the year with a balance of £243,593 (2019: £85,501) giving total funds of £307,974 (2019: £152,789). ## **Reserves policy** It is PCC policy to try to maintain a balance on unrestricted funds which equates to at least three months unrestricted payments. This is equivalent to £25,000. It is held to smooth out fluctuations in cash flow and to meet emergencies. ## **Volunteers** We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is. ## **Structure, governance and management** The method of appointment of PCC members is set out in the Church Representation Rules. At Emmanuel Church the membership of the PCC consists of the incumbent (our vicar), churchwardens, the reader and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. The full PCC met 10 times (8 of which were conducted via Zoom) during the year with an average level of attendance of 80%. The meetings were more frequent than in normal years, but it gave us an opportunity to keep connected when inperson meetings were not possible. Given its wide responsibilities the PCC has a number of committees each dealing with a particular aspect of parish life. These committees, which include pastoral, children and youth, worship, mission and outreach and fabric and finance, are all responsible to the PCC and report back to it regularly, minutes of their decisions being received by the full PCC and discussed as necessary. 7 **Emmanuel Church PCC | Woodley** ## **Administrative information** Emmanuel Church is situated in Southlake Crescent, Woodley. It is a parish church since 2018 and is part of the Diocese of Oxford within the Church of England. The correspondence address is Emmanuel Church, Southlake Crescent, Woodley RG5 3QW|office@emmanuelwoodley.org.uk |www.emmanuelwoodley.org.uk The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006) and a charity registered with the Charity Commission with charity number 1175550 registered on 3[rd] November 2017. The following list shows the PCC members who served during 2020: ## Ex Officio members Incumbent: The Reverend Sean Riordan (Chair) Wardens: Mr Adam Wingrove (resigned July 2020), Mrs Lyn Rhodes (appointed September 2020) and Mr David Woolnough Pioneer Curate Ms Susie Templeton ## Elected members - Mr Daniel Carter appointed 27[th] September 2020 - • Mrs Julia Franks resigned 27[th] September 2020 - Mrs Rachel Hogg - Mr Joshua Holloway - Mrs Sally Kerry - Mr Dave Mansfield - Mr Ian Mullens appointed 27[th] September 2020 - • Mrs Busayo Odunsi appointed 27[th] September 2020 - Mr Kieran Pearson (Secretary) - Mrs Lyn Rhodes - Mrs Catherine Rogers resigned 24[th] October 2020 - Mr Shane Stevens - Mr Adam Wingrove resigned 31[st] July 2020 - Mr Dov Whittle - Mr David Woolnough ## - Co Opted members - Mrs Sonia Hall (Treasurer) Approved by the PCC on 19[th] July 2021 and signed on their behalf by the Reverend Sean Riordan. Revd Sean Riordan (Chair of PCC/Trustees) 8 **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE PCC MEMBERS OF THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** I report to the PCC members on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Emmanuel Church, Woodley (the parochial church council) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the PCC members of the parochial church council you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the parochial church council’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I 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 parochial church council’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered certified Accountants, 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. I 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. I have completed my examination. I confirm that no 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 parochial church council 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. 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 financial statements to be reached. F J Wilde FCCA MBA DChA Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF Dated: 21[st] July 2021 - 9 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**Current financial year**
**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general d esignated**
**2020**
**2020**
**2020**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
90,874
3,214
179,508
Charitable activities
**4**
7,085
-
-
Investments
**5**
-
396
-
**Total income**
97,959
3,610
179,508
**Expenditure on:**
Charitable activities
**6**
99,062
3,214
23,616
**Net (outgoing)/incoming resources**
**before transfers**
(1,103)
396
155,892
**Net (outgoing)/incoming resources**
**before transfers**
(1,103)
396
155,892
Gross transfers between funds
346
(2,546)
2,200
**Net (expenditure)/income for the year/**
**Net movement in funds**
(757)
(2,150)
158,092
Fund balances at 1 January 2020
41,854
25,434
85,501
**Fund balances at 31 December**
**2020**
41,097
23,284
243,593|**Total**
**2020**
**£**
273,596
7,085
396
281,077
125,892
155,185
155,185
-
155,185
152,789
307,974|Total
2019
**£**
151,859
16,910
-
168,769
125,532
43,237
43,237
-
43,237
109,552
152,789| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 10 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**Prior financial year**
**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general d esignated**
**2019**
**2019**
**2019**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
102,692
-
49,167
Charitable activities
**4**
16,910
-
-
**Total income**
119,602
-
49,167
**Expenditure on:**
Charitable activities
**6**
113,788
-
11,744
**Net (outgoing)/incoming resources before**
**transfers**
5,814
-
37,423
Gross transfers between funds
(8,175)
8,104
71
**Net (expenditure)/income for the year/**
**Net movement in funds**
(2,361)
8,104
37,494
Fund balances at 1 January 2019
44,215
17,330
48,007
**Fund balances at 31 December 2019**
41,854
25,434
85,501|**Total**
**2019**
**£**
151,859
16,910
168,769
125,532
43,237
-
43,237
109,552
152,789| |---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 11 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2020**_ |**Notes**
**Fixed assets**
Tangible assets
**Current assets**
Debtors
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
Unrestricted funds
Designated funds
General unrestricted funds|**2020**
**£**
24,903
147,698
172,601
(1,974)
23,284
41,097|**£**
137,347
170,627
307,974
243,593
64,381
307,974|**2019**
**£**
17,819
135,852
153,671
(882)
25,434
41,854|**£**
-
152,789| |---|---|---|---|---| |||||152,789| |||||85,501
67,288| |||||152,789| The financial statements were approved by the PCC Members on 19[th] July 2021 Revd Sean Riordan (Chair of PCC/Trustees) - 12 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **Charity information** The Parochial Church Council of the Ecclesiastical Parish of Emmanuel Church, Woodley is a Parochial Church Council. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the parochial church council's governing document, 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) (effective 1 January 2019)". The parochial church council is a Public Benefit Entity as defined by FRS 102. The parochial church council 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 parochial church council. Monetary a mounts 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. ## **1.2 Going concern** At the time of approving the financial statements, the PCC members have a reasonable expectation that the parochial church council has adequate resources to continue in operational existence for the foreseeable future. Thus the PCC members continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the PCC members in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the parochial church council. ## **1.4 Income** Income is recognised when the parochial church council 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. - 13 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **(Continued)** Cash donations are recognised on receipt. Other donations are recognised once the parochial church council 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 parochial church council 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. ## **1.5 Expenditure** Liabilities are recognised when either a legal or constructive obligation is identified and the transfer of consideration is probably. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and assets in the course of construction are not depreciated. 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. ## **1.7 Impairment of fixed assets** At each reporting end date, the parochial church council 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 ) . ## **1.8 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. ## **1.9 Financial instruments** The parochial church council 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 parochial church council's balance sheet when the parochial church council 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. - 14 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial assets**_ Basic financial assets, which include debtors 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 creditors 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 p aymen ts 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 creditors 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 creditors 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 parochial church council’s contractual obligations expire or are discharged or cancelled. ## **1.10 Taxation** As a registered charity the PCC is exempt from taxation on its income and gains where it is both applicable and applied for charitable purposes. ## **1.11 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 parochial church council is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.12 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the parochial church council’s accounting policies, the PCC members 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. - 15 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **3 Donations and legacies** |**Unrestricted Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general d esignated**
**2020**
**2020**
**2020**
**£**
**£**
**£**
Donations and gifts
87,552
3,214
89,933
Grants received
3,322
-
89,575
90,874
3,214
179,508|**Total**Unrestricted
Restricted
funds
funds
general
**2020**
2019
2019
**£**
£
£
180,699
85,352
45,417
92,897
17,340
3,750
273,596
102,692
49,167|Total
2019
£
130,769
21,090
151,859| |---|---|---| - 16 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **4 Charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**Income**|**Income**| ||**2020**|**2019**| ||**£**|**£**| |Funerals|1,183|750| |Hall lettings|5,902|16,160| ||7,085|16,910| |**Investments**||| ||**Unrestricted**|Total| ||**funds**|| ||**d esignated**|| ||**2020**|2019| ||**£**|£| |Interest receivable|396|-| ## **5 Investments** - 17 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **6 Charitable activities** ||**Charitable**|
**Charitable**| |---|---|---| ||**Expenditure**|
**Expenditure**| ||**2020**|
**2019**| ||**£**|
**£**| |Staff costs|22,248|
12,466| |Parish pledge|56,561|
52,066| |Groups and outreach|2,332|
9,756| |Clergy and curate costs|11,222|
12,484| |Other costs|186|
2,942| |Funeral fees|1,399|
-| |Training|-|
317| |Upkeep of service|184|
869| ||94,132|
90,900| |Grant funding of activities (see note 7)|15,907|
13,240| |Share of support costs (see note 8)|15,793|
21,327| |Share of governance costs (see note 8)|60|
65| ||125,892|
125,532| |**Analysis by fund**||| |Unrestricted funds - general|99,062|
113,788| |Unrestricted funds - designated|3,214|
-| |Restricted funds|23,616|
11,744| ||125,892|
125,532| ## **7 Grants payable** ||**Charitable**|
Charitable| |---|---|---| ||**Expenditure**|
Expenditure| ||**2020**|
2019| ||**£**|
£| |Grants to institutions:||| |Other|5,450|
6,316| |Grants to individuals|10,457|
6,924| ||15,907|
13,240| - - 18 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **8 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Staff costs
5,803
-
Hall running costs
5,137
-
Portacabin costs
2,844
-
Church garden
142
-
Sundry expenses
1,756
-
Printing and stationery
111
-
Bank charges
-
60
15,793
60
Analysed between
Charitable activities
15,793
60|**2020**
Support
costs
Governance
costs
**£**
£
£
5,803
7,453
-
5,137
10,823
-
2,844
-
-
142
1,267
-
1,756
1,307
-
111
477
-
60
-
65
15,853
21,327
65
15,853
21,327
65|2019
£
7,453
10,823
-
1,267
1,307
477
65
21,392
21,392| |---|---|---| ## **9 PCC Members** One of the trustees is an employee of the PCC and received remuneration of £2,925. ## **10 Employees** ## **Number of employees** The average monthly number of employees during the year was: ||**2020**|**2019**| |---|---|---| ||**Number**|**Number**| |Administrator|1|1| |Hall Cleaner|1|1| |Youth Minister|1|1| |Other|1|-| ||4|3| |**Employment costs**|**2020**|**2019**| ||**£**|**£**| |Wages and salaries|27,895|19,919| |Other pension costs|156|-| ||28,051|19,919| The church employs four (2020:3) part-time persons, equivalent to one full-time employee. There were no employees whose annual remuneration was £60,000 or more. - 19 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**11**
**Tangible fixed assets**
**Cost**
Additions
At 31 December 2020
**Carrying amount**
At 31 December 2020
**12**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
**Notes**
Deferred income
**14**
Trade creditors
Other creditors
**14**
**Deferred income**
Other deferred income|**Assets under construction**
**£**
137,347
137,347
137,347
**2020**
**2019**
**£**
**£**
4,620
1,120
20,283
15,775
-
924
24,903
17,819
**2020**
**2019**
**£**
**£**
-
520
1,974
-
-
362
1,974
882
**2020**
**2019**
**£**
**£**
-
520| |---|---| - 20 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **15 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: |**Balance at**
**1 January 2019**

**£**
Community Building
46,953
Little Gems
444
Puppets
100
Special Collections
510
Helping Hands
-
Youth Work
-
48,007|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
41,778
(5,724)
767
(39)
252
(423)
6,370
(5,558)
-
-
-
-
49,167
(11,744)|**Transfers**
**Balance at**
**1 January 2020**

**£**
**£**
-
83,007
(360)
812
71
-
360
1,682
-
-
-
-
71
85,501|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
157,896
(2,864)
-
-
-
-
6,894
(8,780)
4,158
(1,412)
10,560
(10,560)
179,508
(23,616)|**Transfers**
**Balance at**
**31 December**
**2020**
**£**
**£**
-
238,039
(360)
452
-
-
1,560
1,356
1,000
3,746
-
-
2,200
243,593| |---|---|---|---|---| The Community Building fund was established to fund the Emmanuel Neighbourhood Centre Project. Little Gems is a parent and toddler group held in the church. Puppets Special Collections represents giving for specific missions. - 21 - **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **16 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: ||||||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---| |||**Balance at**|**Transfers**|
**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**| ||**1**|**January 2019**||**1 January 2020**|**resources**|**expended**||**31 December**| |||||||||**2020**| |||**£**|**£**|
**£**|**£**|**£**|**£**|**£**| |Community||||||||| |Building||17,330|4,104|
21,434|396|-|-|21,830| |Families||||||||| |Outreach||||||||| |Worker||-|4,000|
4,000|3,214|(3,214)|(2,546)|
1,454| |||17,330|8,104|
25,434|3,610|(3,214)|(2,546)|
23,284| The Community Building fund represents internally earmarked funds towards the cost of the extension and improvement work. Families Outreach Workers fund is internally earmarked funds for the employment of a family worker. - 22 - ## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **17 Analysis of net assets between funds** |**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
Fund balances at 31 December 2020 are
represented by:
Tangible assets
-
-
137,347
Current assets/(liabilities)
41,097
23,284
106,246
41,097
23,284
243,593|**Total**Unrestricted
funds
Designated
funds
Restricted
funds
**2020**
2019
2019
2019
**£**
£
£
£
137,347
-
-
-
170,627
152,789
-
-
307,974
152,789
-
-|Total
2019
£
-
152,789
152,789| |---|---|---| - 23 - # **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL CHURCH, WOODLEY** # **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **18 Related party transactions** There were no disclosable related party transactions during the year (2019 - none). - 24 -