THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD Regtstsred Charity No. 1127259 Annual Report and Financial Statements For the year ended 31 December 2023 i.piItMn_Fn]p i, P&.Jp It j,!V,I ss *ter & V8Jl witl7,4.'1 <Aint4 THE CHURCH OF ENGLAND The Church of England in Essex and East London Diocese of Chelmsford
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD ANNLAL TRUSTEES REPORT for tb¢ year ended 31 Deeember 2023 The Trustees present their report for the year ended 31 December 2023 together ryth the accounts for the period then ended. Th¢ financial statements comply with current statutory requirements, the constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordanc¢ with Financial Reporting Stsndards applicable in the UK and Republic of Ireland (FRS102). Aim and purpos¢s The Parish of Chingford Parochial Church Council (PCC) has the responsibility of Cooperating with the tncumbenl, th¢ Reverend Dr Juslin Anthony, in promoling in the eeclesiastical parish the whole mission of the Church _ pastoral, evangelistic, social and ecumenieal. The PCC is also specifically responsible foT the maintenanc¢ of the buildings of the Parish Church of Ss P¢t¢r and Paul, All Saints, ("the Old Church"), and the forn]er church of St Francis. It is also responsible for the maintenance of Old Church House, IA Priory Avenue. Objeetives and Aetivities The PCC is committed to enabling as many people &8 p055ible lo worship at our church and to become part of our parish community in Chingford. The PCC maintains an overview of worship throughout the parisb and makes suggestions on bow our services can involve the many groups that live within our parish. Our services and worship put faith into practice through sacram¢nt. prayer: scriplure and music. When planning our actii'ities for the year, we have considered the Charity Commission's guidance on public benefit and particularly the supplementary guidance on charilies for che advancement of religion. In particular. we ty io enable ordinary people lo live oul their faith as part of our parish community through: worship and prayer. learning about the Gospel. and developing their knowledge and iTUSt in Jesus. proviston of pastoral care for peopl¢ living in the parish. and outreach work by Christian wilnessing through social justice and community participation. To facilitate this work. it is important that we maintain the fabric of the church buildings, and th¢ two attached church halls.
Aehi¢vements and P¢rformance The weekly pattern of services and related activities in our two churches continu¢d notmal, giving glory to God and, we hope, wilness and encouragement to the local community. Worship and Prayer The PCC is keen to offer a range of Services during the week and over the COUL3¢ of th¢ year that our community find boih beneficial and spiritually fulfilling. All are welcome to attend OUT regular services. At May 2022 2023 there were 203 people on the Church Electoral Roll. The average weekly attendance acTOSS IK)th churches. counted as required by the Diocese during October 2023 was 212 (range 171 to 257). The Corresponding figure for October 2022, was 240 (rang¢ 229 to 241). Services on E&ster Eve and Easter Day were attended by 364 (curiously, the same number as in 2022) and services on Christmas Eve and Christmas Day had 921 (709 in 2022 As well as OUT regular services, we enable our community io celebrate and thank G¢)d at the milestones of the journey throu8h life. Through baplism we thank God for the gift of life, in marriage public vows are exchanged with God's bl¢ssing and through funeral services friends and family express their grief and give thanks for the life which is now complete in thi5 world and to commend the person into God's keeping. We c¢lebrated 22 baptisms and six weddings and held 45 funerals in OUT churches in 2023. D¢an¢ry Synod At the APCM in May 2023, two of the four available places on the Deanery Synod were taken up. The PCC w&$ not able to fill the other two. Mission and Ministry Unit Sin¢¢ 2017 the parishes of Chingford: St Mary's Walthamstow and Cornerstone Leyton have been part of a Mission and MiThistry Unit. Notable achievements have included the successful employment of a fllWLce otTicer to manage the finances of the parishes, the sharing of youth ministy resources and the joint partnership ivith Red Balloon Foundation lo provide and develop youth ministry. HO,ever. as a result of changing pasloral circumstances of the three parishes, MMU activities have ceased. The ehureh buildings Following the completion in May 2019 of"Phase A" repairs lo the chancel of Ss Peter & Paul, a faculty was obtained. and contractors were appointed in February 2020 so that an application could be made lo the National Lottery Heritage Fund (NLHF) for a grant towards "Phase B" repairs to the nave. The application wa5 on the point of being submitted when the NLHF had to close to new applicaiions at ihe start of the coronavirus pandemic. Although ihe NLHF opened again for grant applications in March 2021. the criteria for awards were somewhat different. The project is therefore paused to enable consideration of how best to address those criteria and of other possible sources of funding the some £?50,000 cost. Both churches received their quinquennial inspections in the spring of 2021. Al All Saints, twelve itetns wer¢ recommended for attenlion "wilh the utmost urgency. and a further 15 for
attention by January 2023. The corresponding figures for Ss Peter & Paul were 12 and 21. All these have bcen tabulated and progr¢ss with them has been reported at each PCC meeting. Progress to December 2023 was very limit. mainly due to the funding challenges that most of the items present but also to organisational problems. Each church nowhas a detailed logbook in which all signTfieant repairs and event5 are recorded. Notable entri¢s in that for Ss P¢t¢r & Paul in 2023 include the flooding of the boiler room duringl ex¢¢ptional rainfall in September 2022. However. although the burner to the heating boiler was flooded, it did not need replacing. With the flooding clearly arising from backflow from the drainage system in the are& a wall has subsequently built around ihe floor drain in the boiler room to prot¢ct the boiler without preventing access to it. The logbook for All Saints records work in January 2023 to prevent water penetration between tow¢r and nave roof in exceptional rainfall. Sadly, the All Szaints log book also records in October 2023 a break-in during which the safe was forced open and its contents stolen. St Francis was closed as a centre of worship in 2003. The premises have been used and maintained since then by the 10th Chingford Scout Group. After somc two years of process, a formal two year lease to the Scout Assoeialion was finalised on l November 20?3. Pastoral Cydre In 2023 the work of pastornl care through the occasional oifices continued to increase in number. We continued in our work of bringing Holy Communion and praying with those no longer able to attend our church services in person". three nursing homes are vigited regularly (with more than 250 communicants).. and home communion has been taken to individuals in th¢ir homes more than 120 times (includlng five visits for extreme unction). The clergy team meet weekly to discuss, among other things, the pastoral needs of the parish and individual parishioners. The sacrament of reconciliation (confession) is regularly offered and occasional 'ad hoc. prayers for the ill and the deceased ate said, at the request of and in the company of the bereaved. The clergy team officiated ai 46 funeral sen'ices in our churches, 12 services held at cretnatoria or cemeteries, and 13 intcrm¢nts of &shes in the Gardens of Remembrance: Ihis important work is itnEK>ssible thOut the efforts of retired clergj", vergers, sextons, musicians. the funeral fees administrdtor and the Funeral Co-ordinator, Mrs Jan Harrison. Our thanks go t() all of them.
Mission and Evangelism Baptisms and w¢ddings are oppN)rtunities for mission and evangelism. Some of the children frorn th¢ Baplism families attended Cherubs, (Chlngford Cherubs Children's Service}. many of these families now attend church on a regular basis. Wedding preparation continued Mqth the six couples who were married in 2023. ensuring that the couples understood the promises they were making before God and some of thes¢ couples hav¢ sinc¢ attended our churches. An increasing number of families requesting baptism has been encountered which, with God's grace. may continue into the future. At the parish church24 children artd babies were baptised and two adults from 19 families, and 10 families haNe continued to attend church, with some joining as regular Cherubs members. Monday Cherubs moved to Sundays at the end of 2022. We have developed a strong volunteeT Children's ministy team in both churches, and Sunday clubs and Cherubs are led ably by strong, experienced leaders. Red Balloon Foundation provide weekly Tesources and additional leaders ai Partsh Church Sunday Club. In 2023, monthly numbers at the Parish Church Sunday Club rose over the year from 15 to 45, and Sunday Cherubs rose from 3 to 17. The groth of numbers of children ha5 been reflected in the increased attendance at our monthly AIM ('AII In Mass,) Eucharist. At Old Church Sunday Club numbers Temained stable al around 18-22 monlhly. We Conlinue to have a close relationship with the schools in our parish, especially Chingford CotE where th¢ Rector and Mrs D¢bbi¢ Torrey ar¢ governors. The R¢ctor takes assemblies in both the infant and junior site lortnightly, and the school comes to the Parish Church for end of term service5 and high days and holy days. Nonnanhurst School worships in the Parish Church three times a year as well (Harv¢sL Christmas and end of year). and we have received teaching visits from four other schools in and around the parish. at which the Reclor explains the church building and the Christian faith to the pupil. The conection Mqtb Parkside Primary school was re*stablished. Three Year I classes visited All Saints in November and December. with 90 children and 12 adults vislting Old Church, and R¢vd Hilary attended the school's carol service. Sathrday Bridg¢ church was launched on 1st July at 4pm at All Saints Church, supportcd by Red Balloon, and th¢n ran on the 4th Saturday of the month in Septcmber: October and November 2023 and joined the Christingle service in December. The intention is to provide a service for people who have little or no Conneclion with church. Bridge church includes a team of 5 from the Parish and I from Red Balloon. who supply the Bible story. craft materials and often action song. During 2023, 5 families Mqth little or no connection to church attended some of the seTviee5, plus 3 families connecled to ihe chwch. This included I I children and 8 adults. Average attendanc¢ per service for 2023 was 5 children and 10 adults {incl 5 team members), although numbers do fluctuate. Our monthly parish magazine, ably edited by Mrs Christine Rampton, is available in both churches. Existing and new Facebook and WhatsApp groups available to the congregation have been useful in maintatning and developing interactions. The parish Twitter account and the parish website have played important paits in publicising the activities of the parish and the website has been gradually upgraded and improved over the course of the year. The parish YouTube channel remains online, and although no longer needed a5 it was in the
pandemic. is a useful record of past musical and worship offerings. and remains a worldwid¢ witness to the quatity of worship to be found in Chingford Parish. Music We predicted it would take three y£ars to restore the choirs to where we were pre-pandemic and this was the second year. Progress throughout th¢ year remained on track to achieve that target. The year began with the smallest ever cohort of boy ¢horisters, most of whom were inexperienced. The girls were also low in numbers and experience. Conversely, we had the largest ever numb¢r of choirmen as there were many ex-treble chorist¢rs now singing lower parts. However. as it was once again possible to rttruit "nornly, the numbers of boys and girls soon grew and with much apparent enthusiasm. levels of musical achievement rose steadily again. The cathedral week at Truro saw 79 of our stngers participating. During the year the choir also sang Evensongs at Rochester. St Alban's and St Paul's cathedrals as well as maintaining the regular pattern of choral Services at Chingford. Th¢ Chingford Singers and men gave a concert of Coronation-them¢d music. The number of concerts returned to pre-pandemic levels with choral societies now resuming hiring the church to put on their events oncc again. Audienc¢ numbers increased and our own Grand Christmas Concert had a full capacity audience. As always, the huge amount of support from our congregation and supwrters of the music meant that our music-making remained tinan¢ially sound. We re-appointed Joel Colyer as Organ Scholar for a second year as there was still much he could gain from working wilh us, and we continued to benefit from his input as part of our staff team. As always, we are very grateful for the help, support and enthusiasm of our whole team of musicians and their families who do so much voluntarily to organise, prepare, rehearse and perfomi our music. Amongst them, we are particularly grateful to Christine Rampton who has r¢plac¢d Mthr Katherine in providing th¢ Chrislian Training for the chorist¢rs in preparation for RSCM exams, for which we had a large number of successful candidates once aLJain in 2023. Safeguarding A Safeguarding Committee works with the Parish Safeguarding Officer (PSO) to ensure thal all safeguarding matters are addressed effectively. Posters are in place in both churches which include contact details for the PSO, the churchwardens, the Diocesan Safeguarding Team and advice about where to go locally for help. Copies of the Pocket Guide to Safeguarding have now been distributed to the PCC. The n¢w standards promulgated by the Church will bc discussed with the PCC in 2024 and posters will then be displayed showing ihese standards. The DBS and Saf¢r R¢crnitment system remains in place run by the Parish Adminislralor who maintains a complet¢ database of all parish volunteers showing their DBS slatus, whether they have stgned the required Confidenlial Declaration and their up-lo-date training SluS.
There are arrangcments for the safe storage of all documents relating to safeguarding and the Parish Administrator has responsibility for this. There is an up-to-date siatement on safeguarding, as required by the CofE guidelines. on the parish website. The PCC has fornially adopted the Parish Safeguarding Policy and a signed copy of it is displayed in both churches and church halls. The PCC has adopted the Model Parish Code of Safer Wurking Practice as set out in the CotE Safeguarding Handbook. The Safeguarding Committee will be introducing a Parish Social Media policy to ensure that safeguarding is practiced in virtual communication (on th¢ parish's social media channels), as well as in "real life" There is a written policy stalement on safer recruiling, following the guidelines set out by the CofE to guide those recruiting on b¢half of the parish and all employed staff have contracts of employment. The PCC has adopted two statem¢nts: Responding to Safeguarding Allegations and Concerns apTdResponding to those aboul H,hom ihere are .gufeguarding Concerns. These documents will guide Parish practice. The PCC continues to address additional enhancements to safeguarding arrang¢ments. Awareness raising sessions were held in both churches in December to draw attention to ihe prevalence of domestic abuse and the various avenues of supwrt for this. The social media ensures good safeguarding practice on all social media used by the church and is a member of all church WhatsApp groups. All volunteers are encouraged to undertake Basic Safeguarding Training and staff working in Ihe Sunday Clubs take the Foundation Saf¢guarding Training. Th¢ Leadership team have all undertaken the Safeguarding Leadership Training. By all these means. the PCC has complied Mith the duty, under section 5 of the Safeguarding and Clergy Discipline Measure 2016: 10 have iegard to House of Bishops, guidance on safeguarding and vulnerable adults. Financial Review Overall, the PCC recogni5ed a deficit for the ycar of £17,649 (2022: £20,512) before Investment gains of £23,855 (2022.. losses of £46,692) showing a reversal of some of the losses made by our investments in the "Covid,: years but not yet back to pre-pandemic levels.. Although Parish Income increased by £17.013 (2022: increase of £37,071) in comparison with the pandemic-impacted figures for 2021 and partly 2022. repairs and maintenance expenditure and energy prices increased expendiluTe by £14,151 (2022.. increased £15.020) this despite a fall tn Parish Shares asked for by the Diocese (but which has increased again in 2024). Due lo uncertainty around cash flow during the pandemic the Church w&s unable to pay ihe Parish Share from April 2020 to March 2022: the liability (£141,000) from these vears remains in the accounts but at this time cannot be paid so will remain in the accounts for 2024. In these continuing difficult times we would like to acknoM,ledge all the congregation members who maintained or incre&sed their giving and the one-otT donation5 received from many
members of the Parish which have helped bolster the finances and paid for very ess¢ntial maintenance works and unavoidable running Costs. Income increased generally thanks to the an increase in Congregational giving and donations although less was gift aided M'here we can reclaim additional '%ax credit,: from HMRC. We are grateful to all congregation members who take the time to set up gift atd with us or use the yellow envelopes to give their delails. Other sourc¢5 of incom¢ were slightly down on last year (weddingslfunerals and hall hire) but still forn]ed a vitsl part of our overall incorne and so thanks a]so is to be given to those managing the hall hires and undertaking these life services.. Investment income was largely the sam¢ as 2022 and it was encouraging that the actual year end value of the investments had increased significanily (£23. 655 overall) however this by no means as yet reversing the losses to investment value suffered in 2021 and 2022 which were caused by th¢ pand¢mic's impact on markets.. In temis of expenditure the main movements betwe¢n this year and last were a reduction in the Parish Share to the Diocese (all the Share asked for by the Diocese for the year being paid), but which will be reversed in 2024 by a significant increase and significant energy costs (68 % increase) due to the price rises and as a charity we not being eltgible r¢ the -"price cap" and receiving no grant this year from the Diocese towards energv cosls. Repairs and maintenance costs (including sundry costs) increased due to new cburcb signage, the tarniacking at the back of St P&P, roofing, ]ndoWS. external lighting and boiler costs. As mentioned previously the "Cler house at IA Priory Avenue is now rented out on a contractual basis so, in line with accounting standards. it has been cl&ssified as an investment property and ha5 to be held in the balance sheet at its "'fair value . (as opposed to Cost price). As a result, a valuation (fair value) has been included in these accounts this year, based on a valuation by the Trustees, itself based on an indication of market price (less expected costs lo sell) updated conservatively on the basis of the housing price index for Waltham Forest. Whilst house prices in Waltham Forest fell in the year, after the end of the year they b¢gan to ris¢ again , reversing the fall in 2023. As a result the Trustees dccided it was prudent this year to not include any decrease in the fair value of the propew" in these accounts. The bulk of the trade creditors in the accounts. as mentioned above, is our unpaid Parish Share (£141.000). Whilst this liability remains in these accounts and the pa}'ment of 2023's Parish share has continued in this year, it is unlikely in th¢ short tern) al least that any payment ot this will be possible. However, as from an accounting pcrspective this 15 a "due" debi it is shown as a creditor due within one year. Funds available to the PCC at the end of 2023 were £l.101,585 (2022 were £1,095,379 net). Of thesc there are.. endowment funds of £229.816 (2022.. £227,479} - these are represented by investments and include one pennanent end0ent where only the income return on investment may be taken to unrestrÈcted funds for the use of the PCC and one expendable endownenl. currentl). held for a specific purpose only but which the Trnstees could decide to change. r¢strict¢d funds of £102,263 (2022: £99,378) - these repres¢nt sev¢ral separate funds (see note l O io the accounts for details) wh¢re the PCC Can only spend the fund on the specific putpose/projeci it was given for. These include some a¢¢umulation funds where any interesvdividend on them must be added to the
fund. In the case of all other restrict¢d funds any interestldividend on investment forn]s part of the PCC'S unrestricted fimds. designated fid5 of £148,944 (2022: £158.541) - "d¢signated" from general U[eStrIct¢d fullds by thc PCC for specific purposes. and. propety unrestricted funds of £649,000. being the IA Priory Avenue property. Free unrestricted funds of the PCC at 31 December 2021 are therefore in deficit by £17,679 (2022.. £39,019, 2021- surplu5 £10,926). This reflects the losses on the investments held during 2020,21 & 22 which it is hoped will recover in the n¢xt few years and the increased costs of running the church (especially tbe energy costs). Thc PCC is aware of the deficit position and will take the neLessary action to return general unrestricted funds to surplus: options being (along with s¢¢king to increase income) to reduce certain costs, to un-designate some of the designate funds if needed and, 5ubj¢¢t to approval. to coThv¢rt some of the endowinent funds to unre5tri¢ted funds. Reserves policy It is the policy of the PCC to maIn1n enough unrestricted and undcsignated {"fre¢") reserves to meet all of the demands on cash within acceptable timcscales. As shown above this policy was stretched in 2021 due to the part Closu of the churches and halls as a result of coronavirus restriclions and breached in 2022 and 2023 in respect of the investment losses and cost of living crisis (notsble energy costs) &s delailed abov¢. It is also the policy of the PCC to set aside sums from general income, usually unrestricted legacies, towards the cost of essential repairs and refurbishtnents required during the next five years. Sums sel aside are credited to th¢ parochial buildings fimd, which arose from the sale in 2008 of a fonn¢r clerg}, house. This fund h&$ been designated wholly for the maintenance of all Parish properties but can be "un41esignated"' by the PCC for general use if required. Infonnation about other designated funds and the natu of the restricted and endowment funds held can be found in note l O io th¢ accounts. Investment policy It is PCC policy to invest short-terni funds not required in the imtnediate future with the CBF Church of England Deposit Fund and CBF Church of England Property Fund Incorne shares or. in the case of accumulat¢d incomc from the church halls fund, with the COIF Charities Deposit Fund. Funds hcld for the longer-term are invested in CBF Church of England Investment Fund Income shares and CBF Church of England Property Fund Income shares or, in the cas¢ of the church halls fund, in COIF Charities Investmcnt Fund Income shares and COIF Charities Fixed Interest Securilies Fund Income shares. Volunteers We would lik¢ to thank all th¢ volunteers at both churches who work so hard to support OUT Pish. In p¥iCUlar we want to mention our churchward¢n Mr R Vincent and Mr R Shaw and Mr Neil Taylor, our new Finance Officer. who have helped us ail to understand the church's accounts and its finances and to Mr I Rampton a5 Planned Giving oificer.
Stru¢ture? governance and management In common with other parochial church counclls, the PCC'S goveming documents are the Parochial Church Councils {Powers) Measure 1956 as amended and the Church Representation Rules 2022. All church attendees ar¢ ¢n¢ouraged to register on th¢ electoral roll. Members of the PCC are ex offIcio. elected by the Annual Parochial Church Meeting ("'APCM") in accordance with the Church Representation Rules 2020 or Co-opted. The PCC is responsible for makin8 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 PCC met five times during W 2023 The PCC has a number of committees each dealing with a particular aspect of parish life. These committees. which in 2922 20?3 included Fabric. Safeguarding atRiSand a Standing Committee, are all responsible to th¢ PCC and reported back to it OT the Shqnding Committee periodica]ly. Administrativ¢ information Chingford Parish Church (Ss Peter and Paul) is situated on The Green. Chingford, E4. All Saints. Church is situated on Old Church Road, Chingford. E4. The Parish is part of Waltham Deanery in the Dkoces¢ of Chelmsford: within the Church of England. The correspondcnce address is The Rectory. 2 The Green Walk, Chingford, London E4 7ER. The PCC is a body corporate (PCC Powers Measure 1956. Church Representation Rules 2020) and a charity registered with the Charity Commission index number 1127259. PCC members who have served at any time from the 2023 APCM (held on 10 May 2023) until the date this report wa5 approved are.. Tru$t¢es and other key officers Incumbent: The Rev'd Dr Juslin Anthony Assistant Clergy: The Rev'd Hilary Musker The Rev'd Marilyn Claydon The Rev d Rodney Matthews Th¢ R¢v'd Prof Maxwell Hutchinson Lay Ministers.. Diana Kennedy Churchwardens: Richard Vincent Deputy Wardens: Sue Emerson Jacqui Neophytou Larry Relfe Gary Young Deanery Synod Representstives: Diana Kennedy Larry Relfe
Secretary and Electoral Roll Officer:Anne Clayden (Co-opted) Honorary Treasurer: Vacant position Elected Members: Barbara Fox Roger Hemsted Claire Codling Michael Emerson Sue Emerson Rupert Hav-campbell Peter Renwick Elected Members: (continu¢d} Mike HÉll Joyce Hilton Jacqui Neophytou Debbie Torrie Safeguarding Officer Jan Burnell Financ¢ Officer Silvia Garrido Kemp Neil Taylor Director of Music Michael Emerson Organ Scholars Joel Colyer This report was approved by the Parochial Cburch Council onl•&024 and was signed on its behalf on by: R¢vd Dr Justin Anthony Rector Richard Vincent Cburehivarden
Independent Examinerfs Report tothe Trustees of The Parochial Church Council OfThe Ecclesiastical Parish Of Chingford I report to the trustees on my examination of the financial statements of The Parochial Church Council Of The Ecclesiastical Parish Of Chingfordl I'the chariv) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance and related notes. This report is made solely to the charTVs trustees, as a body. in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might State to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the charity and the charitws trustees as a body, for my work, for this report, or for the opinions I have formed. Responslbilitie5 and basi5 of report As the trustees of the charity you are responsible for the preparation of the financial Statements in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the ch3rit¢s financial statements carried out under section 145 of the Art and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451Sllb) of the Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion a5 to whether the financial statements present a 'true and fairf view and my report is limited to those specific matters set out in the independent examinerfs statement. Independent Èxaminerfs statement I have completed my examination. I confirm that no material matter5 have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the forrn and content of accounts set out in the Charities (Accounts and Reports) Regulation5 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. Andrew Jarvis Bsc FCA ACCA Date: 24, J_ 25
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD STATEMENT OF FINANCIAL ACTMTIES (Including income and expenditure account) for the year ended 31 December 2023 Unr05tii¢ted R8stiict•d EndrJwm•nt Total funds rvnds nds fvnfl 2(123 Total lunds Not* INCOME AND ENDOWMENTS FROM: Donations and legaoe5 Chafitable activitie5 other Iradiry actNtbes In¥e$tryents 101.150 12,628 48.513 6.244 21.188 122.338 12.628 48,513 6,469 107.117 13.377 45.983 6.457 225 Total Incomo and endowments 168.535 21,413 189.948 172,935 EXPENDITURE ON: Raising funds Charitdble aGtivitiè¥ 2,382 179,034 2.382 205,215 2.505 190.941 28,182 Total expondfjtu 181,415 26.182 207,597 193,446 NET INCOMEIIEXPENDFfuRei 112,8801 14.7691 117.6491 120,5121 Gains I Ilossesl on investrnents Fair valuè moverrent on inve5trnent property Transfers between funds 688 13,862 2.339 23,855 146.6921 io NET MOVEMENT IN FUNDS 982 2,885 2.339 6,2 167,2041 Balan$ brought forward at 1 January io 768,522 99,378 227,479 1,095,379 1.182,583 Balances carried fomard at 31 Docernber io 769,504 11Y2.263 229.818 1.101.585 1.095.379
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD BALANCE SHEEr at 31 December 2023 Unrestsieted Resth¢tsd Endowment Totsl funds funds funds funds 2023 Total funds FIXED ASSETS Invesbment proparty Investment assets 649.IX() 152.750 649,000 382,568 649,000 366.615 229.818 801.750 229.818 1,031.568 1,015,615 CURRENT ASSETS Dtsbtors and prepayments Short term deposits and investments Cash at bank and in hand 23.89) 27.778 23,890 117.010 80.261 16,736 109,108 110,087 89.232 14,431 117,499 103.663 221.162 235.931 LIABILITIES- AMOUNTS FALLING DUE WITHIN ONE YEAR 149.744 151.144 156.167 NET CURRENT ASSETS 132.2461 102,263 70,017 79,764 NET ASSETS 769,504 102,263 229,818 1,101,585 1,095,379 FUNDS yo 769.504 102.263 229,818 1,101.585 1.095,379 Thè finanoal Statemènts were approved by thè Parochwl Churth Council on Rn e 2024 and were signed on its behalf by.. Rlchard Vincent churchwarden Fr J Lèwls- Ractor
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 1. Accounting policios harity Infomiation The Parochial Churth Council 01 th8 Ecd8Sk151ical Parish of Chingford s an ufiincorpor818d Charity registered in England and Wale$. The principal address is 2 The Gn Walk. London, E4 7ER. The Charty registered at Charities Commission with r8g15tralion number 1127259. AcGountlng ¢onv6ntion The financial statements have been prepared in accordanTr wrth trE ¢harrtls Trust Deed. the Charitses Act 2011 and "Accounting and Reporting by char"e$.. Ststhent of RecLmrrnded Practice applicable to ¢harrties proparing their accouftls in accordance with the Financial Repon9 Standard applicable In the UK and Republic of Ireland IFRS 1021. las amended for accounbTra periods CfxnftIng frfy7) 1 January 20191. The charrty a Public Benefrt Entity a$ defined by FRS 102 The finan¢ial statements are prepared in sterfiNJ, whith is th8 fvnctional currerw of the charity. Monetsry amounts in these financial statements ar8 round8d to the ne¥$t £. The financial ststements have been prepared undar the historical c05t convention as modffied for invesbn&nl propety fair valuing. The princpal ac¢ounb"ng polries adopted are Set out below. Golng ¢on¢$m The tru5tee5 have assessed whelher Ihe use of th8 going COnM basis is approprote and have consKleied possi8 events or conditions that rnighl cast 5ignrficant doubt on the abilty of the Charitab entity to contine as a going tontem The trustees have made this assessment for a penod of at least one year from the date of approval of the financial statements. In particular the trustees have considered the Charitab enb'ty5 fotecasts and projections and have tsken accoun¢ of pressures on donation and investrnent incorre. After makin9 enquiries the trustees have CottIe that the is a reasonable expectation that the chant8ble entty has a(lequate resources to conts.nue in operdtR)nal existen for the foreseeable future and there ar8 no rnaterial unc¢rtainiies. Tho Charitab entity therefore continue5 to adopt the going conc8m basis in preparing its financial 5tstements. Fund8 unrestr.cted fund8 are income bjnds which 8rè to ba spont on PCC'$ general purwses. Funds designated for a particular purpose by the PCC are also unresticted. RestrKt8d funds represent 9NÈn for a particularpurpose and whh cannot, and must not. be used by the PCC for any other purpose except by agreerTEllt wtth dotH)ror 88 (Setemiined by the courts or the Charity COM55K)n. Restricted Endowment funds are furkys for which the capital must be retained either Fm8nentty or at the PCC'S discretiDn". the income derived from the endowment is to be erther as resujcied or unresln.cted income funds depending upon the purposa for which the endowrnent was establBhed in the fit5t FA#. In¢omln9 resouir Planned 9iving. collectyons and sirnilar donatK)ns are recognised when received. IncorrÈ tsx recoverable respect of gift aKI don8tions is recognised when the Inco recognise(l as actrued inrx)tre_ Grants 8nd I8988s to the PCC are accounted for 08 soon as the PCC 15 notif*d of it5 gaI 8ntrt18rn8nt larter any performancÈ conditions have been met). the amount due is quantifiab and ts uth'mate receipt by the PCC is re350nably rtaIn. InvestrEnt inCme is ¢0nIsed on a receivable basis. Rental irKome from Ihe ktting of churth properfEs is recogni5ed when Ihe rèntal is due. FuThJs raised by the bazaar and 8imilar events are accounte(I lor 9fDS$ and a recogni8ed onty when rec£Ned. Income from advertising in the magazin8 reCrniSed when due.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 1. A¢¢ounting polScle8 l¢onVnu•dl Funds Icontinu¢dl Fees for wedding and funerals represents the pari%h'$ net 5haTe of the totsl fees colkcted onty. The parish CO1Cts gr05S fees that include fees on behaw of the DSe. veer, sexton. organists etc as agent onty hence this income and matching expenses is not induded within these a¢unts. This is in a¢cgTdaTrce wilh instruclK>n from th8 Dioce&e In their guidance notes te the annual Parish FThan Retum. Gainslllosses) on inveslments Realised gains or losses are recogntsed when inve5trnent assels a sold. Urbrealtsed 9ain$ or h)ss88 are accounted for on revaluation of investments at 31 tk¢emier. Re8ourcg$ expondod Grants and donations are accounted for when pabj over. orwhen awarded, rfthat award creates a binding or conslructrve obligation on the PCC. The Parish Share is accounted for when due. Unless thè probabilty of payTht 15 consklered remote any sha unpaid at 31 Decerllber is provided for In these fi'nènual siaterrents as an opelational (though not a legall liabilty and is shown as ¢reditor in the balan(t $heel. All other expenditure Is gèn8ratty recognised rt 15 incur and ts accounted forgross. Costs of generatin9 funds a¥e Ihose costs irred in allractin9 and admintstering voluntsry income. Expenditure on charilable a¢tivrfies include both direca co$ts and thos8 costs incurrEd in $upport of the charitable exp8nditure and have been albr2ted lo sc4e charitabte a¢bvty. Tangible Fixed asvt C(Thsecral8dland ond buildings andmov8ble church fumishings Consecrated and benefKe property of any kind ¢5 excl1¢ fr these financi4 Statents in acttrd3nce with s.1012llal and (¢1 of the Charitk8s Act 2011_ Si. Francks hall is 8 dedicated ralher Ihan ¢onsecrated buiK1ing tt neverthe$8 this property also exduded from these financial statetnents. This is due to the r85tsKtsons in Pla on its u58 and whatthe PCC ¢oyKI do wAth this site making rt5 market value consKlered as negllqibk. movab church fumishings he by the rectc and thurthiardens on trust for the PCC and which require a faculty foi ¢Jisposal arè Inalienable property and are listed in the thurth'5 inventory. which can be inspected at any reasonable time. For anything acquired prior to 2000 the is Insufficnt cost infotrTJath)n availab arKI therefore such assets are not valued in th888 fin8n¢ial 5taternents. Sub3equenlty no iThJNKlual itern has cost rrK)rg than £5.000 so all Such eKpenditure has been written off when incurred. Equipment used within the church premises is depreaated on a 5tra¥ht line ba$1$ r lour years. 1ndWlu81 items of equiprnent with a purchase prtC8 of £5,000 or les5 are written off when acqui. In¥es¢mwfpropgrtles InvestrneI propertres ar8 state(l at theirfair value (cons8[8d to te martet valuel as at 31 Drnber. Invèstments Investrnents represent inve$bn8nt portfolios majw by CCLA on behalf ofthe PCC and are $tsled at market value. Fln8ncialinstrumonts The tharity ha5 elected trj appty the prowsK)ns ol SeLon 11 'Basic Finanual Instruments. of FRS 102 to all of its finanual instrutnents, the chanty having no comx Se¢bon 12'0ther Finanaal InsthJnnts Issues,. FInana in$twkrEnts are recognL$8d in the thori$ balance sheet when the c*anty be¢onEs paty to the contractual provisions of the instrument
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31 December 2023 1. Accounlin9 policies l¢ontinugdl Baslc ffn•ncl81 assets Basic financial assets, whh indude debtor5 and cash and bank balances. ar• initialty maasured at transaction pri including transaction costs and are 5ubsequenlYy carrd at am¢ytised cost using the effective inte( method unles8 the arrangement consb"tutes a financing transaction. Whe the transa¢bon is at the pr¥$8nt value of the future rec8ipts discount8d ai a market rate of inieresL Finanaal as8ets dassrfd a8 receivable within one year are not amortised. Amounts owing to the PCC in resFeGt off, rents or other irKome are shtrn as d8btots kss prowsion for amounts that rnay prove unco1kd1b. Short term deposits nrISe cash hel¥ on short notice etherwith the CBF Churth of Eng18nd Deposit Fund orthe COIF Charities Depo$rt Funo. Shortt8mi investments are stated at nrkeV(Ash value. Cash and cash equfvalents Cash and cash equriaients include cash in hand, deposits held at call wth banks. other short-temi liquK investEnts with original maturibes of Ihree months or less, and bank o¥erdrats. Bank overdrafts a shown within borrowing$ In current BaslG fln8nclalllablliths Basic financial liabilities, induding creditors and bans are initialty reco9ntsed at trafisaction pn unless the arrangemant constitLrte8 a financing transactK)n. where the debt instrument is rrEaSu at th8 psent value of the future payment5 discounted at a market rate of interest Finan¢ol liabilitS ckssified as payable wthin one year are not amortised. Trade ¢reditois a oblvJ8tions to pay lor gorJ8 or seNirx that have been wyired ill Ihe udinary course of operations from suppliers. knounts payabk are cLassthed as turnt liable$ if paynI is due within one year or $$. If not, they are presénted as non-currenl liabilit$. Trade creditors are recognised initsalty at transa¢bon price and subsequently measured at amorb5ed cost using the effecbve inlerest malhod. Der8cognltlon of fln•nclal Ilabllrflés Flnancial liabilt$ are derewnised when the Charrtls contractual oblvJation5 oxpire or are d15¢harged or CaThled. Volunt••rs A substanb.al conlribution to the aclivth.es of Ihe chanty 15 supplied in the form of vdunteers seMc85 for $UPPOrting the Charity and provIng rn11$try administrative ser¥i&s. The finanoal benefft of these non4a$h donati)n$ have not been rewnised in these accounts as by thesr nature rtwoukj be wwacb(al to quanbfy in monetary temis. Taxatlon The Charty k% exempt frcrfn tax on incoft and gains falliTrJ wiihin wtion 505 of Taxes Act 1988 or sects.on 252 of the Taxa.0 of Chargeable Gain5 Act 1992 to the extenlthat these are 8ppIEd trj it5 charitable objecis. Critiul •¢counting ¢8tim8t05 and judgeThnts In the application of the charty's accounb"h9 poliaes. the TTUSte8s are wuired to make judgoments, 8Stimates and assumptions about the Carrying amount of assets and lialylities that are not readity apparent frorn other source$. The eslirnates and a5sooated assumptions are based on h15¢ eyrienct and other factors that are consKJered to be relevant. Actual re$ults may differ from these est¥nate$. The estimates and undertymg assumptions are revewed on an ongoing basis. Re¥n$ lo accounting estirnates a rscognised in the period in whi¢h the estimate revised where the wision affects onty thal ppriod, or in ttrt period of the revi$KJn and fvre periods Whe Ihe revSA affects both ¢urrent and future periods. In the view Of the Trustees, there are no svjnfficant accounty"TrJ estnnates and judgements applied except forthe valuation ol the investment property.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for th• y•ar endèd 31 December 2023 Incom and èndowmènts from.. Umestnct8d ResÈrKÈed Enth)wmcrt T¢81 funds fotal1und& funds Dontions and s¥ctes C(Korealion conthbukn$- gft ded Income lax reco¥eraNe on gift owj Congreauon contributi(- not abJed Grants COVID-19 support. Donauorys, appeaL8 eic. 70.740 15.450 11.052 70,740 15.450 11,052 86.131 17,914 6.002 3.500 21,188 25.095 13.569 101.150 21.188 122.&38 107.117 The total rpaS 2022 fiwres compretsed reStr income of £94.728. reStrle0 rnctyme of £12.389 and no eThlownent Income Reslroted wants in 2022 is in respect of CaIlwdr Music grant gwen lo twJr8afies to ctK)ir Krek thori¥lers. b Ch&rrfable a¢mS Parish magazine. books (IrK( IrL¥n sa) Fees for arnl fUrS 537 12.091 $37 12,091 492 12.888 12.628 12.628 13.377 The 10t fwds 2022 figu Gompyetsed U[ted •rl1 of£13.377. ¥estiiaed incL¥Tr of £nil arNI end(y4menl ineLyne. c Olhertradti¢tsvks Church hall leitsw5 Rental In¢otne Bazaar, 2(M) Club 8ThJ olher fun51 estNS Pansh fflagazwie Ir8 frotn aththsiryl 25.239 18.920 25.239 18,920 26.565 17.520 1.178 700 48.513 48.513 45.983 The Iolal fd$ 2022 fige$ cthTrp[e uNesbic8d c4E45,983. rKI tricted arrtl endo%Mmenl IrK(xn8. d Investsnents InlereÉi Dtte[lS 24 6.221 20 6.437 225 6.244 225 6,469 6,457 Total irrome 8nd er11en15 168.535 21.413 189,948 172.935 Tt lolel fuThls 2022 fi5xJre5 c(#npretsed estrIc$d jThrne of£6.107. restritaed of £350 arxl Th) erchnent income. Exp8ndltMre on.. un&tted Re&ed Trtalftsrtds TotlundS 8 Ralslnglunds Pnned giving and grft-aid envetopes '20, Club, baza8relc. Rentsl propety agts CA)BI$ 191 621 1.570 191 621 1,570 79 Y54 1.472 2,505 The tot fuDJs 2022 figu cornwed TtrICed e4drture 4Jf£2.505. restried ewKlthJr8 no endtrmnenl expendilure.
THE PAROGHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year ènded 31 Oecember 2023 Expend on Icontinued): Un$¢1d Reslriclod EndOwnnt Tol81 funds lund5 nds 2023 Tol81 lunds b Charilable 8Ctiwties Missionary and charitable giving Ministy. Parish Sha Inote 131 Clergy expenses". Organists, choir and organ Sanctuary linc robes. ve5trnents. altar requi5rtesl H&81ins and lighting Telephone Insurance Cleanin9 Refurbishments and neW9qUont Inot8 41 Administrabon wages Administration gxpenses Sl Francis hall- Charits"es Act 8uveryor5 report Reversal of grant income acCnl and bad debts Sundry expenses 9,821 57.225 372 15.047 3.667 3,255 13.076 57.225 372 25.888 3,681 29,964 1.401 9,611 3.410 23,249 19,382 9.553 15,609 72,414 241 25.550 1,818 17.748 1,234 9,337 2.253 17.278 18.720 Rector 10.840 14 1.401 9.611 3,410 11.177 19.382 9.553 12,072 15 15 406 1,724 179.034 26.182 205,215 190,941 Tolal expendrture 181.4fS 26.182 207.597 193.446 Mi%5ionary and Charitab giving.. INithin Missionary and charitsbk 91J..are donatsons rnade to 212022 21 charitable causa$. Exduded Irorn these accounts are any cdl8ctions lor olh8r thare5 where the tharity lthurthl act8d as agent in respect of the colle(on (see note 151. Support ond govemanL (Wts all relkd unrfystiicted afvitigs and are allotsted to unrestricted fund$ alon8 unless spe¢rfi¢ grants have been reeeieved 10 fund them in which (2se the 51 up to the arnount of the granl reived is charged to $trickd funds wth the ex5 of any C¢ Ihen charged to UnrestrtÉd funds lany &x¢e55 grant Incotrva over Ct LS carried fts¥rd in reslri¢t8d fundsl. The tharitab activities total fund5 2022 fi9ure5 compfeisfjd unrestrAxd exp8ditur8 of £177.512. restricted e4ndilure of £15.935 antt endovmnt exp8nditure. Rofurbishmgnts and new equipment unsdEd ReslrKted Endowm8nl Tot81 lunds fund 2023 Tolalfiinds Church & Halls repairs arvj maintenance OC H¢use Repair5 & Maintenan 10.589 12.072 22.661 588 16.918 360 11.177 12,072 23.249 17,278 The total funds 2022 figurwd wnpreised unwtriced expeditu of £12.675. resiricted expenditure of £4.803 and no endi>wnt expenditure.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year endod 31 D8¢ember 2023 EmployeeS1 paym8nts to PCC m•mbern and Y•latod partios Fees pakj to reopte Ere PCC member5 or attentl PCC al 31 [Mber. Director of Music 81 SS.Petsr & Pa £11.205 £10.538 IMI Indling Wld1rj and Funeral fees Ihal a paJ lo Thiests etcas ttEse a antycdle(aed by Ihe PCC ih8ofIhe individuall Members of the par(th Churth ¢Cl are re1mtrEed for any4Jirett expense5 Itw incur on beham of PCC Mileage al1018ns, tr8vel. eniertainirKJ and sundry herSt8 iotANry £422612022. £2,312) %4ere mbUrsd lo the der9yIPCC memebrs. Employeos The PCC had an average Mtsn number 016 emFloyees 2023 12022". 61. The employees engaged in suptsrtin9 the one maln chairtab actwty of ¢harity. Employmont Gosts 2022 Wages and Salaries Social Se(JJrty Pension 35.199 31.862 388 347 35,587 32,209 Thero were no eMoYeeS whoge annual rBmuneraton was £60.0Th] or There Is no Key Managmementconwsabfy) to reryL Fixed a$50ts InvestnntppertY This is freehold prop8ty located at 1A Pwy Avenue. Chryftxd. vthith heJ fw Le ol as5iStanl deryy. The propety wés re- designated lo Investtneni property from tangtrb fixed assets in kyevious years as il is now beiw renied lo wlwde lenansi lo raise As such il 15 hekl al its vajue. as 8sse55ed by Tr tlee5. Unregtricted fvTrJs." Book value at 1 January Fair value rno¥ement 649.000 649,000 Fair value al 31 December 649.OOD 649.000 The y&ar eThJ valuation dS assessetl by Ihe Trlee5 based on a nditabon of ÈxpeLled market value (tess costs to Sell based on the nalional housing price index th8we$ in 2023 in tespect of Waftham Forest arKJ the annual dEcrease per Gov.uk hou81ng pnce indeues of S% bui then modffied for the increase in these tln January and Marth 2024 vthich sho5 8 reversal of this dec4ta5e bath lo 0% overall movement. On Ihis basis Ihe PCC de(ed Ih8t the v8IJe shr¥JbJ rernain thred from thèi of last year.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Dècèmber 2023 Flx•d ass•ts Icorbtlnuodl b Ir)bestnI &ssets UmeslNthd Ethwm&nt fotsl funds Tol8llunds ffunLIs 2023 2022 Inveslments 81 market value.. Parochial buildirys Booihby Heaiheoie beqL Churth hal 121.196 121.196 27.194 234,177 124.792 24.856 216,968 27.194 2Q2.624 31.554 152.750 229,818 382.568 366.e15 Anafy5i5 of gain 11055 in Ihe yeot Value at 1 January Unrealised gair(lo¥s) atisnu on re¥U8)n D¢vide[ income Expenditu and cash in transfer5 to bank 139.136 7.393 6.221 227.479 2.339 366.615 9,733 6,221 383,137 122.6091 6.087 Value 8t 31 Decerthr 152.750 229.816 382,568 366,615 The fixed asset investtrNs held at 31 De¢ntr202r1 tmptse.. Parochial buildirys fund 1.264.97 CBF Crth of ErylarKI knve5tmenl Fund Irwrne $hare¥ 75,586.54 CBF Churth of England Property FU Ineome shares 1 41,136.87 CBF Churth of England Property FU Ino)me shares 2 1.203.00 CBF Churth of ETrJlarKI Investtnent Fund Irwme Sha$ 8,102.88 COIF CknaritEs Invesimeni FuThJ Income shares 59.986.78 COIF Ch8ri1ies Fued Irbteresl FMJ IncL4Tre share Boothby Heslhcole beq1 Churth hats fund Investments at rnarkel valuea5 at 31 DeLYnbei2023." IL35t ¢eI P8rod)i81 buiidiNJ$ fLnd Boothby Heathcote beqwi Church halLs 121.196 27.194 234.177 382.568 The$e are the te$l 5tateJnetrt fourp5 ab. TIre v05 a ¥ignfficant 1055 bn value on ne8ty all Investments hdLI as al 31 December2021 and 2022. tasued by Ihe PareM arml Ihen other tri5es suth as the war in Ukraine and the cost of liviing Crisis having a delrimenlal itnpact. In ttus year many of inve5tmen15 have recoveed in aue ahhough not fulty up to pre-Pandemic levels yet. The Intention of tt)È PCC i8 to try aThl gmK* teta thesè inve$bnents they at Ipast rewvertlEirvbue. D•btors Unrnsbxleé Restilcted EnwnrtI Tot&llund$ funds lunds funds Totrdl fvnds Tr8d8 d&bli)r8 Income lax recoverable Prepayments and acrxued inme 5.587 15.449 2.854 5.587 15.449 2.854 1,478 14.624 634 TJ.890 23.890 16.736
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023 Short tsmi deposlts and Invostments Ufiresti Resbxled EndOwnnI Tot811unds fvnd Total funds Dep05itwth ¢BF C. of E. Dewsit FuThJ CBF C.ofE. Property Fwd Income sha Deposil wlh COIF Charitie$ Dewt Fund 18.888 8.890 10.659 37.898 40.67S 29,547 46,788 40,675 26.004 50,083 33.021 27.778 89.232 117,010 109,108 Held ty. parochi building5 fiJrKI Soixal Mmittee lund 9.3TO 9.370 1,868 16.539 28.285 2.553 14.709 1.992 41.693 9,370 1.868 16,292 28.285 2,553 14.709 1.992 34.039 pcc Oa Church fund (Elbeth Porishl Okl Church garden of rernernr Organ maintenance fun &Jndry bequests fund Church h81LB fur%4 lacWnaied in(y)mÈl 16.539 28,285 2.553 14.709 1,992 41.693 Totsl 27.778 89.232 117,010 109.109 Cr8dltors Unr•stsK6d Restr7¢ted EthwftEnt Total funds TallndS Trade treditors Acuuals Olher Creditor5 147.471 2.274 147.471 2.274 1,400 145.835 8.932 1.400 1.400 149.744 151,144 156.167 10. Funds 2023 2022 Unresrriaed fund5 Restricted funds Endovment fiJnds 769.504 102,263 229.818 76e.522 99,378 227.479 1,101,585 1,095.379 The Unreslrithed fund5 are the general fimds of Ihe PCC indLle Il parochial bkIir¥jS fund, the Chjb fund and Ihe soci81 cornmittee fund. Unreslrirted furvJ$ also the freehohj propety for IIE of a5sslanl dergy but ¢xJtrenlly renied oul.These are de5vJnated funds. sei asNle by the FCC lor a partioAar purpose. Whi151 they 5ts11 fall 1th1 ItE category of Unrestricied funds. they canmt be used for general putpose$ ur4e$s IhÈ PCC UThdeSJnatss them. designaied funds lolalkd £148.94412022.. £158.5411 al 31 Dewbet. The Reslrided fiJnd8 compri88 the Boolhby Heathcote aWmu1ed ina)me lund. Ihe thurth halls a(xJjmUitd income tund, Ihe Qkl Church fLnd, the ad Church garden of remembrantt fuT¥J. the oryon MaInnan lund and the Sundry bUstS fijnd along th other resthfthd funds. These fvThds may orty used for SF¢ufic purpose5.
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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Dec•mbor 2023 Funds Icontinuedl Dq8¢rlptlon ol lund¥ Ch(th Hall$ fund- in regpect of repair aThl Maintenan olvesty Hall. Qhj Chwc Hay and Sl.FTwKiS Ham, (Xd Church fiJnd- in r8psectofsepair$ 10 aThJ mainlenarre of thè Chur Organ mainlenanca fund- vi respect of Maintenan ofthe organs al both cthurths MMU admln fL- In respea of grant5 received lo fund the ¥Yage cost& of administraiwjn staff Llghling project lund. In respeca of9rants and d0a0b reNe iowards replacennt olthE Sl Peter & Sl Paufs IvJhts"w. Youth work fund- In respea of rants received towards thiklren and >t)U wot1t C8thedral Mu&e Gr3nl- for the $UPPOlbng of bursare$ lo thterS in respect ofthtyrweek co$ts Lady chapel readirrfJ stand lund. In respÈct oltht WOM8wJn of a readiro stand G8rOen ofremembrance- in respetarby¢irca £15.000. This IloWS Irom the 2020 and 2021 P8Cl of COV11>19 wrre 9 monkns of 2ry20 and 12 months of2021 were also unp8KI. this beiTrJ #ue kn the closure oflhe Churches and halls fry latge periods and so 3 drydmakfall in Inre forlhe PCC and even when 're-open' due lo c8ulion and personal aroJmstanceÈ rJ[ationS not relutning immediaidy and halls noi beir hired for gathenws. Whil¥t ihe PCC is Or agian (x)mmitted to pawng cwreni pansh share land hB5 beeft doing so since Febiuary 20221 there remains in general unrestnxied funds a Ilability of £140.968. 13. The IntrAJmbeni and the churchwardenswerè 41so trustees of the (arities )8r (Md Church School Foundation Ireon.no. 3)09001 The PCC manag8dhnanas som¢ r4sh deposits of this tharfty on their beh8W. il is the inlenbon of the Pcclrvslees lo dose th8 Okl Churth School Foundatior bytransferlo it2 assets lo Ihe bui the rsry legaYreg¥1oryProc8S$eS rega{dll Ihi5 ar8 Ory0. 14. Flnanclal In$trumgnts Apart trom the SnvestnTrents and in¥esknenl property al assets atyj labilrfies reportaN8 twe a at amorb51 cost. See the in%stents and Irent property rth tsrdetaii $ ofthe fat¥ve of tylose assets.
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for thè year ended 31 December 2023 Colle¢tloM on b•haifvlthlrd partlo8 The following collethons were made durin9 set¥1$ on bahforth1rd party(hanties aThJ we*e p8KI overlo Ihem shorfly afterwards. this inCDmt and expense rrt)l Uded In a(xJ)unts. 2023 2022 The Chldrens Souety Worfd Vision UK Foresi Churches Night Shttter (FCENS LI01 DEC- Ukraine pal$ Sl saVurs Priory JEELALAMAL ORPHANGE 256 102 236 188 542 450 225 513 192 Haven House CRISIS Chrisban Aid 1.714 448