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 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 "norn￿ly, 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 S￿luS. 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 end0￿ent 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 fi￿d5 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 maIn￿1n 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 P￿ish. 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 at￿RiS￿and 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_ 2￿5 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$. The principal address is 2 The G￿n Walk. London, E4 7ER. The Charty registered at Charities Commission with r8g15tralion number 1127259. AcGountlng ¢onv6ntion The financial statements have been prepared in accordanTr wrth trE ¢harrtls Trust Deed. the Charitses Act 2011 and "Accounting and Reporting by char￿"e$.. Ststhent of RecL*mrr*nded Practice applicable to ¢harrties proparing their accouftls in accordance with the Financial Repo￿n9 Standard applicable In the UK and Republic of Ireland IFRS 1021. las amended for accounbTra periods Cfxnft*￿Ing 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 COn￿M basis is approprote and have consKleied possi￿8 events or conditions that rnighl cast 5ignrficant doubt on the abilty of the Charitab￿ entity to contin￿e 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 CottI￿e￿ 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 wh￿h 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 COM￿55K)n. Restricted Endowment funds are furkys for which the capital must be retained either F*m8nentty 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 I898￿8s 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 inC￿me is ￿¢0￿nIsed 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 reCr￿niSed 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 CO1￿Cts gr05S fees that include fees on behaw of the D￿Se. ve￿er, 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 F*Than￿ 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 payTh￿t 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 $heel. All other expenditure Is gèn8ratty recognised rt 15 incur￿ and ts accounted forgross. Costs of generatin9 funds a¥e Ihose costs i￿rred in allractin9 and admintstering voluntsry income. Expenditure on charilable a¢tivrfies include both direca co$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 excl￿1¢￿ fr￿ these financi4 State￿￿nts in actt*rd3nce with s.1012llal and (¢1 of the Charitk8s Act 2011_ Si. Francks hall is 8 dedicated ralher Ihan ¢onsecrated buiK1ing t￿t 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 Insuffic￿nt 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. 1ndW￿lu81 items of equiprnent with a purchase prtC8 of £5,000 or les5 are written off when acqui￿. In¥es¢mwfpropgrtles Investrne￿I propertres ar8 state(l at theirfair value (cons￿8[8d to te martet valuel as at 31 D￿rnber. Invèstments Investrnents represent inve$bn8nt portfolios majw by CCLA on behalf ofthe PCC and are $tsled at market value. Fln8ncialinstrumonts The tharity ha5 elected trj appty the prowsK)ns ol SeL*on 11 'Basic Finanual Instruments. of FRS 102 to all of its finanual instrutnents, the chanty having no com*x Se¢bon 12'0ther Finanaal InsthJn*nts Issues,. FInana￿ in$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, wh￿h indude debtor5 and cash and bank balances. ar• initialty maasured at transaction pri including transaction costs and are 5ubsequenlYy carr￿d 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¥$8nt value of the future rec8ipts discount8d ai a market rate of inieresL Finanaal as8ets dassrf*d a8 receivable within one year are not amortised. Amounts owing to the PCC in resFeGt off￿, rents or other irKome are shtr*n as d8btots kss prowsion for amounts that rnay prove unco1kd1b￿. Short term deposits ￿n￿rISe cash hel¥ on short notice etherwith the CBF Churth of Eng18nd Deposit Fund orthe COIF Charities Depo$rt Funo. Shortt8mi investments are stated at n￿rkeV(Ash value. Cash and cash equfvalents Cash and cash equriaients include cash in hand, deposits held at call wth banks. other short-temi liquK* invest￿Ents 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 p￿sent value of the future payment5 discounted at a market rate of interest Finan¢ol liabilit￿S ckssified as payable wthin one year are not amortised. Trade ¢reditois a￿ oblvJ8tions to pay lor gor*J8 or seNirx that have been wyired ill Ihe udinary course of operations from suppliers. knounts payabk are cLassthed as tur￿nt liabl￿e$ if pay￿￿nI is due within one year or ￿$$. If not, they are presénted as non-currenl liabilit￿$. Trade creditors are recognised initsalty at transa¢bon price and subsequently measured at amorb5ed cost using the effecbve inlerest malhod. Der8cognltlon of fln•nclal Ilabllrflés Flnancial liabil￿t$ are derewnised when the Charrtls contractual oblvJation5 oxpire or are d15¢harged or CaTh￿led. Volunt••rs A substanb.al conlribution to the aclivth.es of Ihe chanty 15 supplied in the form of vdunteers seMc85 for $UPPOrting the Charity and prov￿Ing rn1￿1$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$KJn and fv￿re periods Whe￿ Ihe rev*S￿A affects both ¢urrent and future periods. In the view Of the Trustees, there are no svjnfficant accounty"TrJ estnnates and judgements applied except forthe valuation ol the investment property. THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for th• y•ar endèd 31 December 2023 Incom* and èndowmènts from.. Umestnct8d ResÈrKÈed Enth)wmcrt T¢*81 funds fotal1und& funds Don*tions and *s¥ctes C(Korealion conthbukn￿$- 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 r￿paS 2022 fiwres compretsed ￿reStr￿￿￿ income of £94.728. reStr￿le0 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¢m￿S Parish magazine. books (IrK(￿ IrL¥n sa￿) Fees for arnl fU￿r￿S 537 12.091 $37 12,091 492 12.888 12.628 12.628 13.377 The 10t￿ fwds 2022 figu￿ Gompyetsed U[￿￿ted •r￿l￿1* of£13.377. ¥estiiaed incL¥Tr* of £nil arNI ￿ end(y4menl ineLyne. c Olhertradti￿*¢tsv￿ks Church hall leitsw5 Rental In¢otne Bazaar, 2(M) Club 8ThJ olher fun￿￿51￿ estNS Pansh fflagazwie I￿r￿8 frotn aththsiryl 25.239 18.920 25.239 18,920 26.565 17.520 1.178 700 48.513 48.513 45.983 The Iolal f￿d$ 2022 fig￿e$ cthTrp[e￿ uNesbic8d c4E45,983. rKI ￿tricted arrtl endo%Mmenl IrK(xn8. d Investsnents InlereÉi D￿tte[￿lS 24 6.221 20 6.437 225 6.244 225 6,469 6,457 Total irrome 8nd er11￿en15 168.535 21.413 189,948 172.935 Tt* lolel fuThls 2022 fi5xJre5 c(#npretsed ￿￿estrIc$d jTh*rne of£6.107. restritaed of £350 arxl Th) er￿ch￿nent income. Exp8ndltMre on.. un￿&t￿ted Re&￿ed Trtalftsrtds Tot￿lundS 8 Ralslnglunds P￿nned giving and grft-aid envetopes '20￿, Club, baza8relc. Rentsl propety ag￿ts CA)BI$ 191 621 1.570 191 621 1,570 79 Y54 1.472 2,505 The tot￿ fuDJs 2022 figu￿ cornwe￿d ￿T￿trICed e4*drture 4Jf£2.505. ￿ restr*ied 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￿$￿￿¢1￿d Reslriclod EndOwn￿nt Tol81 funds lund5 nds 2023 Tol81 lunds b Charilable 8Ctiwties Missionary and charitable giving Ministy. Parish Sha￿ Inote 131 Clergy expenses". Organists, choir and organ Sanctuary linc robes. ve5trnents. altar requi5rtesl H&81ins and lighting Telephone Insurance Cleanin9 Refurbishments and neW9qU￿￿ont Inot8 41 Administrabon wages Administration gxpenses Sl Francis hall- Charits"es Act 8uveryor5 report Reversal of grant income acCn￿l and bad debts Sundry expenses 9,821 57.225 372 15.047 3.667 3,255 13.076 57.225 372 25.888 3,681 29,964 1.401 9,611 3.410 23,249 19,382 9.553 15,609 72,414 241 25.550 1,818 17.748 1,234 9,337 2.253 17.278 18.720 Rector 10.840 14 1.401 9.611 3,410 11.177 19.382 9.553 12,072 15 15 406 1,724 179.034 26.182 205,215 190,941 Tolal expendrture 181.4fS 26.182 207.597 193.446 Mi%5ionary and Charitab￿ giving.. INithin Missionary and charitsbk 91￿￿J..are donatsons rnade to 212022 21 charitable causa$. Exduded Irorn these accounts are any cdl8ctions lor olh8r thar￿e5 where the tharity lthurthl act8d as agent in respect of the colle(*on (see note 151. Support ond govemanL* (Wts all relkd unrfystiicted af*vitigs 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 re*ived is charged to ￿$trickd funds wth the ex￿5 of any C￿¢ Ihen charged to Unrestr￿tÉd funds lany &x¢e55 grant Incotrva over C￿t LS carried fts￿¥rd in reslri¢t8d fundsl. The tharitab￿ activities total fund5 2022 fi9ure5 compfeisfjd unrestrAxd exp8ditur8 of £177.512. restricted e4*ndilure of £15.935 antt endovm*nt exp8nditure. Rofurbishmgnts and new equipment un￿s￿dEd 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>w￿￿nt 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 Ind￿ling W￿ld1r￿j and Funeral fees Ihal a￿ pa*J lo Thiests etcas ttEse a￿ antycdle(aed by Ihe PCC i￿h8￿ofIhe individuall Members of the par(th￿ Churth ￿¢Cl are re1mt￿rEed for any4Jirett expense5 Itw incur on beham of PCC Mileage al101*8n￿s, tr8vel. eniertainirKJ and sundry ￿her￿St8 iotANry £422612022. £2,312) %4ere ￿mbUrs￿d lo the der9yIPCC memebrs. Employeos The PCC had an average Mtsn￿ number 016 emFloyees 2023 12022". 61. Th￿e 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 eM￿oYeeS whoge annual rBmuneraton was £60.0Th] or There Is no Key Managmementconwsabfy) to rer*yL Fixed a$50ts Investn￿ntp￿pertY This is freehold prop8ty located at 1A Pwy Avenue. Chryftxd. vthith he*J fw L￿e ol as5iStanl deryy. The propety wés re- designated lo Investtneni property from tangtrb￿ fixed assets in kyevious years as il is now beiw renied lo wlwde lenansi lo raise As such il 15 hekl al its vajue. as 8sse55ed by Tr t￿lee5. Unregtricted fvTrJs." Book value at 1 January Fair value rno¥ement 649.000 649,000 Fair value al 31 December 649.OOD 649.000 The y&ar eThJ valuation *dS assessetl by Ihe Tr￿lee5 based on a nditabon of ÈxpeLled market value (tess costs to Sell based on the nalional housing price index th8we$ 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 t￿l￿n January and Marth 2024 vthich sho￿5 8 reversal of this dec4ta5e bath lo 0% overall movement. On Ihis basis Ihe PCC de(*ed Ih8t the v8IJe shr¥JbJ rernain ￿thr￿ed 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)best￿nI &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 investtr*Ns held at 31 De¢*nt￿r202r1 t￿mptse.. Parochial buildirys fund 1.264.97 CBF C￿rth 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 beq￿1 Churth hats fund Investments at rnarkel valuea5 at 31 DeLYnbei2023." IL35t ￿¢￿e￿I 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 a￿￿￿b￿. TI￿re v05 a ¥ignfficant 1055 bn value on ne8ty all Investments hdLI as al 31 December2021 and 2022. tasued by Ihe Par￿eM￿ 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$bnents they at Ipast rewvertlEirvbue. D•btors Unrnsbxleé Restilcted En￿wn￿rtI Tot&llund$ 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 EndOwn￿nI 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 O￿a Church fund (El￿beth Porishl Okl Church garden of rernern￿r￿ Organ maintenance fun &Jndry bequests fund Church h81LB fur%4 lacWn￿aied 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•stsK*6d Restr7¢ted EthwftEnt Total funds T￿all￿ndS 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 indL*le Il* parochial b￿kIir¥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 UThdeS￿Jnatss them. designaied funds lolalkd £148.94412022.. £158.5411 al 31 Dewbet. The Reslrided fiJnd8 compri88 the Boolhby Heathcote aWmu￿1ed ina)me lund. Ihe thurth halls a(xJjmU￿itd income tund, Ihe Qkl Church fLnd, the ad Church garden of remembrantt fuT¥J. the oryon MaIn*nan￿ lund and the Sundry b￿U￿stS fijnd along th other resthfthd funds. These fvThds may orty ￿ used for SF¢ufic purpose5. trIoTES TOThEFwfi¢iiL3TAFI11tr41S 1STy1 F.YD 124J 1M5 I￿0 7V.I 135&7 .J 15.UNI i¢¥ 1QO79 IryL3$3 THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF CHINGFORD NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Dec•mbor 2023 Funds Icontinuedl Dq8¢rlptlon ol lund¥ Ch(￿th Hall$ 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￿ re￿Ne￿ iowards ￿ replacen*nt 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 $UPPOlbng of bursar*e$ lo th￿￿terS in respect ofthtyrweek co$ts Lady chapel readirrfJ stand lund. In respÈct oltht WOM8wJn of a readiro stand G8rOen ofremembrance- in respetarby¢irca £15.000. This I￿loWS Irom the 2020 and 2021 P8Cl of COV11>19 wr￿re 9 monkns of 2ry20 and 12 months of2021 were also unp8KI. this beiTrJ #ue kn the closure oflhe Churches and halls fry latge periods and so 3 drydmakfall in Inr￿￿e forlhe PCC and even when 're-open' due lo c8ulion and personal aroJmstanceÈ ￿r￿J[ationS not relutning immediaidy and halls noi beir hired for gathenws. Whil¥t ihe PCC is Or￿ agian (x)mmitted to pawng cwreni pansh share land hB5 beeft doing so since Febiuary 20221 there remains in general unrestnxied funds a Ilability of £140.968. 13. The IntrAJmbeni and the churchwardenswerè 41so trustees of the (*arities )*8r (Md Church School Foundation Ireon.no. 3)09001 The PCC manag8dhnana￿s som¢ r4sh deposits of this tharfty on their beh8W. il is the inlenbon of the Pcclrvslees lo dose th8 Okl Churth School Foundatior* bytransferlo it2 assets lo Ihe bui the r*￿s￿ry legaYreg￿¥1oryProc8S$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 amorb5￿1 cost. See the in%*st￿ents and Ir￿￿ent property rth tsrdetaii $ ofthe fat¥v￿e 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 bah￿forth1rd 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 ￿p￿al$ Sl saV￿urs Priory JEELALAMAL ORPHANGE 256 102 236 188 542 450 225 513 192 Haven House CRISIS Chrisban Aid 1.714 448