**REGISTERED CHARITY NUMBER 1129915** 

## **WALTHAM ABBEY** 

## **PAROCHIAL CHURCH COUNCIL** 


## **ANNUAL REPORT** 

## **AND** 

## **FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 DECEMBER 2022** 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **ANNUAL REPORT 2022** 

The Parochial Church Council (PCC) of the Parish of Holy Cross and St Lawrence has the responsibility of cooperating with the Rector, The Reverend Peter Smith, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. 

The Annual Report includes the report for the Abbey Church District Church Council (DCC) which has maintenance responsibilities for the Abbey Church, Abbey Church Centre which includes the Parish Office; Abbey Gardens House and that for the Church of St Lawrence, Ninefields, which is a District Church with its own DCC, situated in Hillhouse CofE School in the Parish. 

The PCC is a registered charity, registered charity number 112995. The Administrative address is: Parish Office, Abbey Church Centre, Abbey Gardens, Waltham Abbey, Essex EN9 1XQ 

2022 followed two years when the worship and outreach of the two churches were severely affected by the Coronavirus Covid 19. 

The church being open is an important part of our welcoming mission 

to the townspeople and we were pleased to welcome worshippers, 

members of the local community and visitors although, due to financial constraints, the Abbey Church was only open at weekends and on Wednesdays and Fridays. 

. 

The whole worshipping and local community learnt with great sadness of the sudden death of Canon Joyce Smith, one of our Associate Priests, following a short illness at the end of May. Her Funeral Eucharist service on the 7[th] July, followed a Vigil Service the previous evening, was conducted by the Bishop of Barking. 

The high esteem in which Joyce was held was shown by the attendance of those she worked with, past and present, many of her colleagues from the Benefice, the MMU Unit, the Deanery and the Diocese and many members of the local community to whom she ministered and, in whose lives, she had played an important part. 



Page 1 



**WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## **CHURCH ACTIVITIES AND PUBLIC BENEFIT** 

The parish undertakes a range of activities with regard to the Charity Commission guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. 

## _**The Abbey Church**_ 

Our vision is that Waltham Abbey Church: 

- Has worship and prayer at the centre of everything; 

- Seeks to help people connect with God in their daily lives; 

- Welcomes all on their journey of faith which has at its head 

- Jesus Christ who lived and died and rose again; 

- Serves the community in which it is set. 

The Abbey Church sees its primary purpose as offering a variety of opportunities for prayer and worship, whether as a community or individually. To this end it holds a diverse range of services on Sundays and during the week and the church is open daily, providing the opportunity for private prayer. It also seeks to develop an open and welcoming Christian community based on the building. 

To achieve this, although we would like the church to be open every day for members of the wider community to come in and visit/pray; to be able to support groups that meet various community needs, offer guided tours and opportunities to witness the love of God; financial constraints have resulted in the Abbey church continuing to be open only on Wednesdays, Fridays and at weekends except for wedding and funeral services. 

The Abbey Church sees itself as a church for and of the community and has the Safeguarding of all who visit at the forefront of its life. 

## **Children and Young People** 

As restrictions were gradually lifted following the Covid 19 lockdowns, it was exciting and encouraging to see groups of children from local schools visiting the Abbey Church again and several groups have already booked to visit again in 2023.  Assemblies continued throughout the year at Hillhouse School; these were initially recorded and then continued on a face-to-face basis.  We also welcomed a number of schools, both primary and secondary, to the Abbey Church for Christmas services, which was a real joy. In the autumn we opened our doors for Baptism Services once more and as a result we have baptised a number of babies and children and many more are booked for 2023 The sense of excitement and joy at these services has been very special. We continue to give thanks to the Waltham Abbey branch of Mothers’ Union which provides a Bible as a gift to each child baptised. 

We are so pleased that our Sunday Club is up and running again after having to close during the Covid virus. Although numbers have dipped since our return, we have three regular members who are very faithful and are a pleasure to work with and enjoy meeting together. We hope to be able to encourage the children to grow in their relationship with our Lord, and fellowship with one another in our weekly lessons. They love doing their crafts each week and sharing them with the congregation at the end of the service. We pray that more children will gradually join the group in the near future and we are keen to hear from anyone interested in helping and also to let us know if there is anything they think we could be doing differently to move forward. 

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## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## **Outreach activities** 

We are pleased to report that after the uncertainty of 2021, 2022 brought with it the hope of better times. Fellowship Lent lunches were held in both the Abbey Church Centre and in peoples’ homes; a time when people could share a simple meal together and the proceeds supported the Lent Appeal. 

In June a very successful  ‘Afternoon Tea’ in celebration of the Queens Platinum Jubilee was held. October brought the time for an Harvest Festival Lunch and Table quiz and Friday 25[th] November was the traditional Cavalcade of Light when the church was filled with appropriate stalls offering Christmas gifts and refreshments. 

A new venture on Sunday 11[th] December when a ticketed Christmas themed Concert with much appreciated festive refreshments was held. 

The organization of social events can at times be challenging and special thanks go to the ‘team’, as such events would not be possible without them. 

The Olive Branch café at the Abbey Church Centre has continued weekly on Wednesdays throughout 2022 for light refreshments and fellowship. 

Members of the Listening Team were in attendance at a Memorial Service held on the evening of Sunday 13[th] November for families whose loved ones had had Abbey funerals in 2021. 

The annual George Pipe 12-Bell Competition, held in honour of the late George W. Pipe, an eminent East Anglian bellringer, was held at Waltham Abbey Church on Saturday 19[th] February, in fact the first for two years as the 2021 competition was cancelled in lockdown. Storm Eunice proved to be a severe challenge in 2022, but one to which the ringers rose magnificently. Despite storm damage and travel problems the competition went ahead without any of the competing bands being unable to participate.  Four bands entered, The Norman Tower, Bury St Edmunds, St Mary-le-Tower, Ipswich, St Peter Mancroft, Norwich and the hosts Waltham Abbey. Each band rang the same twelve-bell set piece, the ringing method being Grandsire Cinques. 

At the Abbey Church Centre in the Abbey Gardens adjacent to the church, hungry ringers were provided with bacon and sausage rolls on arrival, followed by lunch and Southwold Bitter, after they had rung of course! Coffee, tea and cake were also available all day in the Olive Branch café at the Centre. Both the venue and the catering were much appreciated. The bells can be heard very clearly at the Centre and the only drawback was the persistent rain that fell from about noon and meant that only the hardiest ringers could listen to the ringing outside! The judges, who were accommodated in a house across the churchyard from the church, declared the winners to be St Mary-le-Tower, Ipswich; the Waltham Abbey band came a valiant fourth, though it was agreed that all the bands had performed very creditably. 

## **Working with Other Charities** 

During Lent, £340.50 was raised for the USPG Ukraine Appeal, £278.50 from Lent Fellowship Lunches and associated donations, and £62 from an Easter Egg Raffle. 

Envelope donations during Christian Aid Week amounted to £50, with the opportunity to donate to Christian Aid online. 

£255.50 was collected for the East Africa Hunger Crisis Appeal and remitted via Christian Aid. 

At the Harvest Festival service on Sunday 9[th] October gifts of food and toiletries was donated to 3Food4U, the community support initiative based in Sun Street, Waltham Abbey. 

Participants in Ride and Stride on 10[th] September collected £671.50 in sponsorship, half of which (£335.75) went to The Friends of Essex Churches and half to the Abbey Church. 

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## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## **Music Department Report** 

Membership of our loyal adult choir has been stable overall, with one member departing for university and one returning to regular singing after overcoming some health challenges. The 

post-Covid _de facto_ worship pattern carries a lower workload for the choir but seems to have helped increase the musical quality of its offering, as rehearsal time is less thinly spread than before. 

_Music for Lunch_ recitals took place on Saturdays during the recital season, on twenty-nine occasions across three terms, with substantial breaks around Easter, over the summer wedding and holiday season, and in the run-up to Christmas when the Abbey is busy with other events. These seem to be highly appreciated by the regular attenders, and generate a small surplus for parish funds. 

2022 was the first year in the life of the rebuilt organ that was uninterrupted by the Covid pandemic, and the first time that the organ accompanied the seasonal sung music of Epiphany, Lent, Passiontide and Easter. The organ also featured in eleven of the Music for Lunch recitals, several of them in ensemble with other instruments; this is always an acid test of an organ’s quality, which it passed with flying colours. The organ continues to be mechanically trouble-free, and when parts of it sustained water damage following storm damage to the church roof, and the failure of the church heating during a particularly cold spell wrought havoc with the tuning of certain pipes, the rest of the organ being now in first-class condition was comfortably able to carry us through Christmas. 

## **St Lawrence Church** 

We seek to be a living and loving church, where all are made welcome in a setting where worship is a priority and each person, knowing they are in the presence of God, feels safe and wanted. A service of Holy Communion is held most Sunday mornings and this has incorporated a café-style format on a number of occasions. 

This year has been very difficult for the congregation with the sudden sad loss of our much-loved Vicar Canon Joyce Smith. She was always a help to all of us as we lived our lives. She is greatly missed, May she rest with our Lord in peace. 

Once again St Lawrence joined with the Church at St Thomas to celebrate Christmas Day. The DCC were able to meet twice this year. 

The church is actively involved with Hillhouse School and St Lawrence Church Pre-School. A Member of the church is on the Pre-School Committee. The Church is involved in many of their different activities. During the last year social and fund-raising events include: 

- Coffee morning 

- Eggstravaganza 

- Summer Craft Morning 

## **GOVERNANCE** 

In 2007 the Annual Parochial Church Meeting approved a Scheme for Separate Representation of Congregations and Establishing District Church Council (The Parish Scheme) established under rule 18 of the Church Representation Rules which took effect from 2008.  Under the Parish Scheme the PCC operates through two District Church Councils (DCCs), one for the Abbey Church and one for St Lawrence Church, Ninefields, and delegates to the relevant DCC many of its functions. 

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## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## **SAFEGUARDING** 

The Parochial Church Council (PCC) is committed to Safeguarding children, young people and vulnerable adults and has adopted the Church of England’s policies and best practice on Safeguarding which may be found on the Church of England website and also on the Diocese of Chelmsford website. The Parish Safeguarding Officer can be contacted via the parish office. 

The PCC, as a registered charity, confirms that the major risks to which it may be exposed, have been identified and reviewed and systems and procedures put in place to manage any such risks and as such has complied with its duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 and is committed to the safeguarding, care and nurture of everyone within our community, by: 

- Promoting a safer environment and culture; 

- Safely recruiting and supporting all those with any responsibility related to children and vulnerable adults within the Church; 

- Responding promptly to every safeguarding concern or allegation; 

- Caring pastorally for victims/survivors of abuse and other affected persons; 

- Caring pastorally for those who are the subject of concerns or allegations of abuse and other affected persons; 

- Responding to those that may pose a present risk to others. 

The Parish Safeguarding Officer reports that since taking over early in 2022, all necessary DBS checks have been completed and received back and all results are recorded together with their renewal date. 

The PSO checklist is a work in progress. In 2023, plans are to have a directory of who’s who in our parish, and following the required training following the House of Bishops Safer Recruitment practice guidance; a policy to help protect everyone when recruiting volunteers into the church. Details of this policy can be found on the Chelmsford diocese website under safeguarding. 

Parish Safeguarding posters have been placed in visible and appropriate positions around the churches and parish centre. These display contact details of the PSO plus appropriate agencies to access help or advice which is in line with our safeguarding policy and a requirement of the Diocese. 

A folder is in the Abbey Church top vestry giving access to a hard copy of the Parish Safeguarding Handbook and the Diocese Safeguarding Manual is only available online 

As required, the diocese training team has been advised regarding who has completed the necessary training for their role in the church and, if necessary, support will be given where online training is needed. 

The PSO has completed the basic and foundation safeguarding online training, the PSO induction module and Leadership (compressed) safeguarding module. Training for 2023 will be to complete safer recruitment, domestic abuse and modern slavery training. 

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**WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## **MEMBERSHIP** 

## **Waltham Abbey PCC** 

Members of the PCC are either ex-officio, elected by the Annual Parochial Church Meeting or co-opted to serve; in accordance with the Church Representation Rules. 

Members who served from 1st January 2022 to the date this report was approved are: 

Team Rector Reverend Peter Smith Chairman Associate Priest Reverend Canon Dr Joyce Smith (Deceased May 2022) Associate Priest Reverend Trevor Scott Churchwardens Dianne Penny (Until May 2022) Beverley Watkins (Until May 2022) Mark Anderson (Until May 2022) Linda Anderson (From May 2022) Julie Stannard St Lawrence (Resigned November 2022) Deanery Synod Reps Jane Shipman Julie Stannard St Lawrence Elected Members Sheila Pearce St Lawrence (Until May 2022) Valerie Lee St Lawrence Richard Walters Amanda Beggs Rachel Matthews (From May 2022) Co-opted Judith Meaden Secretary 

## _Standing Committee:_ 

This is the only committee required by law and it has the power to transact the business of the PCC between meetings, subject to any directions given by the Council. 

BUSINESS TRANSACTED AT THE MEETINGS HELD IN 2022 BY THE PCC INCLUDED:- 

- Acceptance of the Annual Report and Accounts for 2021; 

- Fee and Budgets for both churches; 

- Safeguarding and GDPR; 

- Due to the financial position for both churches, the PCC decided to reduce the amount of the Parish Share paid to the Diocese for 2022. The Parish Share scheme for 2023 proposed the Parish would pay a lower amount; 

- Church news and reports from Diocesan, Deanery and General Synods; 

- Appointment of a Foundation Governors to Hillhouse School; 

- Discussions regarding options for letting the two upstairs offices in the Church Centre; 

- Appointment of Sidespersons for the Abbey Church; 

- The Pilgrim Walk from Waltham Abbey to Ware on 16[th] September; 

- Temporary repairs to the Abbey roof to be carried out in January 2023 ; 

- The loan of the Anglo-Saxon book plate to the Epping Forest District Museum for a further ten years; 

- Clearance of the crypt - complete emptying for restoration work. 

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**WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## _**DISTRICT CHURCH COUNCILS**_ 

## **Waltham Abbey Church DCC** 

Under the Parish Scheme all other Clerks in Holy Orders beneficed in or licensed to the Parish and the district Churchwardens for St. Lawrence Church are also ex-officio members of the Abbey DCC (although the district wardens do not have voting rights); however, in practice these members do not serve. Members who served from 1[st] January 2022 to the date this report was approved are: Team Rector Reverend Peter Smith (Chairman) Clergy Reverend Trevor Scott Reverend Canon Joyce Smith (Deceased May 2022) Churchwarden Linda Anderson Deanery Synod Representative Jane Shipman Elected PCC Representatives Amanda Beggs Rachel Matthews Richard Walters Elected DCC Representatives Valerie Davis Abiodun Fakokunde Christopher Frostick Jane Hudson Lynette Rodgers Lynda Beggs (Secretary) 

The Abbey Church has sub-groups to carry out a large part of its business which are as follows, their remit being covered by the sub-group title: 

Concerts & Musical Activities Fabric Mission and Outreach Youth Publicity & Communications Pastoral Properties Social & Fundraising Stewardship Footprint The DCC met four times during 2022 in February, April, June and September. 

BUSINESS TRANSACTED DURING 2022 BY THE DCC INCLUDED: 

There was continued agreement to adopt annually the Diocese of Chelmsford’s Safeguarding Policy and Procedures. 

The DCC was notified that the Parish Safeguarding Officer had been appointed and was in the process of completing training with the Diocese and with the Disclosure Service. Paperwork is being completed for an Assistant Recruiter to help with the DBS (Disclosure and barring Service) checking process. DBS checks have been completed. 

The budget presented by the treasurer in April was accepted by the DCC and approval was given to ask the PCC that income from share dividends currently credited to the Fabric Fund be credited to the General Fund instead. 

Page 7 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## _**DISTRICT CHURCH COUNCILS - continued**_ 

The DCC was notified that the Church Instagram account was ready to launch and that a protocol for use had been written and signed by 6 authorised users. A completed copy of the protocol to be held on file in the Parish Office. 

The Friends of Waltham Abbey Church had generously put aside £3,000 towards the purchase of new clappers for some of the bells. 

The bellringers were thanked for donating £765 to the Church. 

Following an inspection by Bradshaw Electrical Ltd the DCC agreed to proceed with ‘Code 2’ (urgent) and ‘Code 3’ (recommended) items identified for the Church and further agreed to proceed with ‘Code 2’ items for the Abbey Church Centre. 

Approval was given by the DCC, following the advice of the treasurer, to agree that the allocation in the Abbey Church Centre fund be ‘undesignated’ so that it is available for general purposes. Also to defer the Parish 

Share payments if it becomes necessary in 2022 to avoid a deficit in the General Fund. 

Approval was also given to agree to draw down £2014.82 from the Tithe Chancel Fund to cover the proportion of the church insurance which relates to the chancel for 2022. 

The Covid Recovery team remained active (September2022) and continued to monitor the use of a shared chalice and the communion rail. 

Church diaries have again proved popular with 300 copies produced. These are free of charge though a donation to church funds is appreciated. 

## **St Lawrence Church District Council** 

Members of the DCC are either ex-officio or elected at the Annual District Church meeting in accordance with the Parish Scheme or co-opted by the DCC in accordance with that Scheme. The DCC met twice Members who served from 1st January, 2022 to the date this report was approved are: Team Rector The Revd Peter Smith Chairman from June 2022 Team Vicar Canon Joyce Smith Chairman - deceased May 2022 Churchwarden Julie Stannard retired November 2022 Deanery Synod Julie Stannard Elected PCC Valerie Lee Representatives Sheila Pearce Secretary Elected DCC Barbara Midgley Representatives Joan O ’Mullane Jill Talbot Treasurer Beryl Thorpe 

Page 8 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL ANNUAL REPORT 2022** 

## **CHURCH ATTENDANCE** 

The Electoral rolls were revised in 2022 and at 31st December 2022 there were 159 (2021: 161) members in total on the churches’ electoral rolls. Of these 134 (2021: 136 **)** were on the electoral roll of the Abbey, of whom 89 were residents and 45 non-residents. 

25 (2021: 25) members were on the electoral roll of St Lawrence Church, of whom 21 were residents and 4 non-residents. 

In 2022, there were seven weddings and three Renewal of Wedding Vows/Thanksgiving for Marriage services; forty-two baptisms; twenty-four funerals in the church, including one for an infant and four memorial services. Fifteen funerals were taken at Crematoriums or graveside, there were eight Interment of Ashes and two Committals only. 

The average Sunday service attendance at St Lawrence 2022 was adults 26 and 1 child. At St Lawrence the number attending worship on Easter Sunday was 19 adults and 1 child. 

The average attendance at services held at the Abbey Church was seventy-nine people, with two hundred and twenty-eight attending services at Easter and three hundred and forty-seven over Christmas. 

Special services during the year included, a Confirmation; the Queen’s Platinum Jubilee; Prayers & Vigil for the death of the Queen; hourly prayers of remembrance and consolation for the Queen; the Abbey church being open for three days for private prayer and for signing Books of Remembrance for the Queen; Proclamation Day and Prayers for the King; a service of Commemoration & Thanksgiving for the life of the Queen and a Vigil and Funeral Eucharist for the late Revd Joyce Smith, attended by four hundred and fifty-two people in total. 

## Peter H. Smith 

Peter H. Smith (May 23, 2023 07:29 GMT+1) 

May 23, 2023 

Team Rector of Waltham Holy Cross Team Ministry 

Page 9 



## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **Independent examiner's report to the trustees of Waltham Abbey Parochial Church Council** 

I report to the charity trustees on my examination of the accounts of Waltham Abbey Parochial Church Council (the Church) for the year ended 31 December 2022. 

## **Responsibilities and basis of report** 

As the charity trustees of the Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Church’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

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

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

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

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

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


Mr Christopher Marsh MAAT Association of Accounting Technicians Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF 

Date: ............................................. May 23, 2023 

Page 10 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **Statement of Financial Activities for the Year Ended 31 December 2022** 

|**Note**<br>**Income and endowments from:**<br>Donations and legacies<br>2.1<br>Other trading activities<br>2.2<br>Investments<br>2.3<br>2.4<br>**Total income**<br>2<br>**Expenditure on:**<br>3.1<br>3.2<br>Other expenses<br>3.3<br>**Total expenditure**<br>3<br>12<br>**Transfers between funds**<br>12<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>11/12<br>Total funds brought forward<br>**Total funds carried forward**<br>Charitable activities<br>**Net income(expenditure)**<br>Net gains/(losses) on investments<br>Income from charitable activities<br>Raising funds|**Unrestricted**<br>**Funds**<br>**£**<br>**107,770**<br>**14,491**<br>**16,885**<br>**29,218**|**Restricted**<br>**Funds**<br>**£**<br>**1,162**<br>**-**<br>**5,638**<br>**79,280**|**Endowment**<br>**Funds**<br>**£**<br>**-**<br>**-**<br>**562**<br>**-**|**Total**<br>**Funds**<br>**£**<br>**108,932**<br>**14,491**<br>**23,085**<br>**108,498**|2021<br>Total<br>Funds<br>£<br>136,286<br>6,205<br>14,184<br>81,663|
|---|---|---|---|---|---|
||**168,364**<br>**11,528**<br>**201,141**<br>**743**|**86,080**<br>**87**<br>**86,950**<br>**-**|**562**<br>**-**<br>**1,212**<br>**-**|**255,006**<br>**11,615**<br>**289,303**<br>**743**|238,338<br>10,937<br>263,388<br>1,076|
||**213,412**<br>**(2,005)**|**87,037**<br>**(53)**|**1,212**<br>**(2,582)**|**301,661**<br>**(4,640)**|275,401<br>4,984|
||**(47,053)**<br>**4,707**|**(1,010)**<br>**(1,000)**|**(3,232)**<br>**(3,707)**|**(51,295)**<br>**-**|(32,079)<br>-|
||**(42,346)**<br>**59,574**|**(2,010)**<br>**484,736**|**(6,939)**<br>**404,378**|**(51,295)**<br>**948,688**|(32,079)<br>980,767|
||**17,228**|**482,726**|**397,439**|**897,393**|948,688|



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## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **Balance Sheet as at 31 December 2022** 

|**Notes**<br>**Fixed Assets**<br>Tangible assets<br>**Total Fixed Assets**<br>7<br>**Current Assets**<br>Debtors<br>8<br>Short term investments and deposits<br>9<br>Cash at bank and in hand<br>Creditors: Amounts falling due<br>within one year<br>10<br>**Net Current Assets**<br>**Net Assets**<br>11<br>**Funds**<br>Capital Funds:<br>Endowment Funds<br>12.1<br>Income Funds:<br>Restricted<br>12.2<br>Unrestricted<br>12.3<br>**Total Funds**<br>12|**31/12/2022**<br>**£**<br>**388,784**<br>**388,784**<br>**6,055**<br>**445,760**<br>**66,365**<br>**518,180**<br>**(9,571)**<br>**508,609**<br>**897,393**<br>**397,439**<br>**482,726**<br>**17,228**<br>**897,393**|31/12/2021<br>£<br>392,240|
|---|---|---|
|||**392,240**<br>11,145<br>472,636<br>85,717|
|||**569,498**<br>(13,050)|
|||**556,448**|
|||**948,688**|
|||404,378<br>484,736<br>59,574|
|||**948,688**|



The notes on pages 13 to 24 form part of these accounts. 

Approved by the Parochial Church Council on ___________ and signed on its behalf by: May 23, 2023 

Peter H. Smith Peter H. Smith (May 23, 2023 07:29 GMT+1) Revd Peter Smith **PCC Chair** 

____________ 

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## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **Notes to the Accounts** 

## **1. Accounting policies** 

## **Basis of preparing the financial statements and assessment of going concern** 

The Financial Statements of the PCC, which is a public benefit entity under FRS 102, and have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities Act 2011 and the Church Accounting Regulations 2006. The financial statements have been prepared under the historical cost convention. 

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

The financial statements are presented in sterling (£). 

## **Critical accounting judgements and key sources of estimation uncertainty** 

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

Useful economic life of tangible fixed assets: 

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

## **Funds** 

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC.  Funds designated for a particular purpose by the PCC are also unrestricted. 

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law.  They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members. 

## **Incoming Resources** 

## **Voluntary income and capital sources** 

Collections are recognised when received by or on behalf of the PCC. 

Planned giving receivable under Gift Aid is recognised only when received. 

Income tax recoverable on Gift Aid donations is recognised when the gift is received. 

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. 

Funds raised by the fete, bazaar and similar events are accounted for gross. 

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## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **Notes to the Accounts** 

## **Other ordinary income** 

Rental income from the letting of church premises is recognised when the rental is due. 

## **Income from investments** 

Dividends are accounted for when due and payable.  Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year. 

## **Gains and losses on investments** 

Realised gains or losses are recognised when investments are sold. 

Unrealised gains or losses are accounted for on revaluation of investments at 31 December. 

## **Resources Used** 

## **Grants** 

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. 

## **Activities directly relating to the work of the church** 

The Diocesan Parish Share is accounted for when paid.  The parish share amount paid in the year is as stated in note 3.2, there is no amount outstanding at the year end. 

Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a liability in the balance sheet. 

## **Fixed Assets** 

## **Consecrated land and buildings and movable church furnishings** 

Consecrated and beneficed property is excluded from the accounts in accordance with Charities Act 2011. 

Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated.  They are listed in the church’s Inventory, which may be inspected at any reasonable time.  For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight-line basis. 

All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of moveable church furnishings acquired before 1 January 2000 is written off. 

## **Other fixtures, fittings and office equipment** 

Equipment used within the church premises is initially recognised at cost and is depreciated on a straight-line basis over ten years.  Individual items of equipment with a purchase price less than £1,000 are written off when the asset is acquired. The carrying values are reviewed at the year end for impairment if circumstances indicate that the full carrying value may not be recoverable. 

## **Investments** 

Investments are valued at market value at 31 December. 

## **Current assets** 

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable. 

Short-term deposits include cash held on deposit with the Central Board of Finance of the Church of England, the Chelmsford Diocesan Board of Finance and COIF Charity Funds. 

Page 14 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **Notes to the Accounts** 

## **Creditors** 

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

## **Pension costs and other post-retirement benefits** 

The church operates a defined contribution pension scheme. Contributions payable to the church's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Financial instruments** 

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

Page 15 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **2 Details of Material Incoming Resources** 

|2.1<br>Donations and legacies<br>Planned giving:<br>Gift Aid<br>Income tax recoverable<br>Other planned giving<br>Collections<br>Sundry donations<br>Grants<br>Donations, appeals, etc<br>Legacies<br>2.2<br>Other trading activiites<br>Church hall lettings etc<br>External concerts<br>Internal concerts<br>Other fund raising<br>2.3<br>Investments<br>Dividends<br>Interest<br>Rents<br>2.4<br>Pre-School income (St Lawrence)<br>Fees<br>**Total incoming resources**<br>Income from charitable activities<br>Sales for promotion of the church's<br>objects|**Unrestricted**<br>**Funds**<br>**£**<br>**51,454**<br>**15,937**<br>**9,813**<br>**8,246**<br>**16,042**<br>**5,838**<br>**440**<br>-|**Restricted**<br>**Funds**<br>**£**<br>**-**<br>**250**<br>**-**<br>**-**<br>**912**<br>-<br>**-**<br>**-**|**Endowment**<br>**Funds**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|**Total**<br>**2022**<br>**£**<br>**51,454**<br>**16,187**<br>**9,813**<br>**8,246**<br>**16,954**<br>**5,838**<br>**440**<br>-|Total<br>2021<br>£<br>58,112<br>17,297<br>3,235<br>5,425<br>15,666<br>10,422<br>25,099<br>1,030|
|---|---|---|---|---|---|
||**107,770**|**1,162**|**-**|**108,932**|136,286|
||**4,780**<br>**3,033**<br>**2,143**<br>**4,535**|**-**<br>**-**<br>**-**<br>-|**-**<br>**-**<br>**-**<br>**-**|**4,780**<br>**3,033**<br>**2,143**<br>**4,535**|1,800<br>1,460<br>462<br>2,483|
||**14,491**|-|**-**|**14,491**|6,205|
||**233**<br>**58**<br>**16,594**|**234**<br>**5,404**<br>**-**|**562**<br>-<br>**-**|**1,029**<br>**5,462**<br>**16,594**|455<br>798<br>12,931|
||**16,885**|**5,638**|**562**|**23,085**|14,184|
||**8,569**<br>**-**<br>**20,649**|**-**<br>**78,090**<br>**1,190**|**-**<br>**-**<br>**-**|**8,569**<br>**78,090**<br>**21,839**|1,341<br>53,946<br>26,376|
||**29,218**|**79,280**|**-**|**108,498**|81,663|
|||||||
||**168,364**|**86,080**|**562**|**255,006**|238,338|



Page 16 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **3 Details of Resources Used** 

|3.1<br>Raising funds<br>Cost of stewardship giving envelopes<br>Internal concerts<br>Other<br>Support costs (note 4)<br>3.2 Charitable activities<br>Missionary & charitable giving<br>Ministry:<br>Parish Share<br>Ministry & mission activities<br>Pre-School expenses (St Lawrence)<br>Working expenses of incumbents<br>Rectory & vicarage<br>Other clergy costs<br>Church running expenses<br>Church maintenance<br>Upkeep of services<br>Church Centre running costs<br>Other PCC property upkeep<br>Major church repairs - structure<br>Support costs (note 4)<br>3.3<br>Other resources expended<br>Miscellaneous expenditure<br>**Total Resources Expended**<br>Vergers' fees<br>Other<br>Legal and Professional Fees<br>Movable furnishings & equipment:<br>Depreciation<br>Salaries wages & fees:<br>Director of Music<br>Clergy fees<br>Bellringers at weddings<br>Organists' & pianists' fees|**Unrestricted**<br>**Funds**<br>**£**<br>**118**<br>**927**<br>**822**<br>**9,661**|**Restricted**<br>**Funds**<br>**£**<br>**-**<br>**87**<br>**-**<br>**-**|**Endowment**<br>**Funds**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**|**Total**<br>**2022**<br>**£**<br>**118**<br>**1,014**<br>**822**<br>**9,661**|Total<br>2021<br>£<br>132<br>30<br>1,555<br>9,220|
|---|---|---|---|---|---|
||**11,528**|**87**|**-**|**11,615**|10,937|
||**-**<br>**105,585**<br>**1,666**<br>**-**<br>**1,565**<br>**288**<br>**372**<br>**10,428**<br>**589**<br>**2,274**<br>**19,201**<br>**5,223**<br>**-**<br>**14,123**<br>**-**<br>**-**<br>**2,086**<br>**12,897**<br>**112**<br>**1,355**<br>**1,912**<br>**21,465**|**-**<br>**-**<br>**-**<br>**75,693**<br>**-**<br>**-**<br>**-**<br>**-**<br>**9,664**<br>**-**<br>**-**<br>**-**<br>**1,261**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**332**<br>**-**|**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**1,212**<br>-|**-**<br>**105,585**<br>**1,666**<br>**75,693**<br>**1,565**<br>**288**<br>**372**<br>**10,428**<br>**10,253**<br>**2,274**<br>**19,201**<br>**5,223**<br>**1,261**<br>**14,123**<br>**-**<br>**-**<br>**2,086**<br>**12,897**<br>**112**<br>**1,355**<br>**3,456**<br>**21,465**|399<br>117,622<br>150<br>63,139<br>1,778<br>298<br>416<br>9,047<br>7,398<br>1,363<br>10,410<br>5,791<br>-<br>13,392<br>**-**<br>**-**<br>382<br>4,334<br>**-**<br>1,070<br>3,457<br>22,942|
||**201,141**|**86,950**|**1,212**|**289,303**|263,388|
||**743**|**-**|**-**|**743**|1,076|
||**743**|**-**|**-**|**743**|1,076|
|||||||
||**213,412**|**87,037**|**1,212**|**301,661**|275,401|



Page 17 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

|**4**<br>**Support Costs**<br>Church Office Repairs & Maintenance<br>Telephone Church Office<br>Photocopying Costs<br>Church Office sundry expenses<br>Computer Service<br>Stationery<br>Parish Administration<br>Insurance<br>Examiners/Auditors' Remuneration|**Raising**<br>**funds**<br>**£**<br>**9**<br>**352**<br>**307**<br>**5**<br>**18**<br>**145**<br>**5,271**<br>**3,554**<br>**-**<br>**9,661**|**Charitable**<br>**activities**<br>**£**<br>**17**<br>**715**<br>**624**<br>**9**<br>**36**<br>**295**<br>**10,703**<br>**7,216**<br>**1,850**<br>**21,465**|**Total**<br>**2022**<br>**£**<br>**26**<br>**1,067**<br>**931**<br>**14**<br>**54**<br>**440**<br>**15,974**<br>**10,770**<br>**1,850**<br>**31,126**|Total<br>2021<br>£<br>-<br>985<br>522<br>-<br>498<br>400<br>15,425<br>9,832<br>4,500|
|---|---|---|---|---|
|||||32,162|



Support costs are apportioned to activities in proportion to the estimated proportion of time spent on those activities by the Parish Administration which is apportioned one third to fundraising and two thirds to charitable activities and auditors reumneration which is allocated 100% to charitable activities 

## **5 Staff Costs** 

||||
|---|---|---|
|**Staff Costs**<br>Salaries and wages<br>Social security costs<br>Other pension costs<br>The average number of full-time equivalent employees|**Total**<br>**2022**<br>**£**<br>**98,748**<br>**2,042**<br>**1,239**<br>**102,030**<br>**5**|Total<br>2021<br>£<br>84,929<br>1,468<br>1,027|
|||87,424|
|||5|



No employee earned over £60,000 per annum 

Page 18 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **6 Comparatives for the Statement of Financial Activities for 31 December 2021** 

|**Income and endowments from:**<br>Donations and legacies<br>Other trading activities<br>Investments<br>**Total income**<br>**Expenditure on:**<br>Other expenses<br>**Total expenditure**<br>**Transfers between funds**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>**Net income/(expenditure)**<br>Net gains/(losses) on investments<br>Total funds brought forward<br>**Total funds carried forward**<br>Income from charitable activities<br>Raising funds<br>Charitable activities|**Unrestricted**<br>**Funds**<br>**£**<br>**134,921**<br>**6,205**<br>**12,938**<br>**25,950**<br>**180,014**<br>**10,937**<br>**192,095**<br>**1,076**|**Restricted**<br>**Funds**<br>**£**<br>**1,365**<br>**-**<br>**683**<br>**55,713**<br>**57,761**<br>**-**<br>**70,081**<br>-|**Endowment**<br>**Funds**<br>**£**<br>**-**<br>**-**<br>**563**<br>**-**<br>**563**<br>**-**<br>**1,212**<br>**-**|**Total**<br>**Funds**<br>**£**<br>**136,286**<br>**6,205**<br>**14,184**<br>**81,663**<br>**238,338**<br>**10,937**<br>**263,388**<br>**1,076**|
|---|---|---|---|---|
||**204,108**<br>**2,199**|**70,081**<br>**-**|**1,212**<br>**2,785**|**275,401**<br>**4,984**|
||**(21,895)**|**(12,320)**|**2,136**|**(32,079)**|
||**-**|**-**|**-**|**-**|
||**(21,895)**<br>**81,469**|**(12,320)**<br>**497,056**|**2,136**<br>**402,242**|**(32,079)**<br>**980,767**|
||**59,574**|**484,736**|**404,378**|**948,688**|



Page 19 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **7 Fixed Assets** 

|**Freehold**<br>**Land &**<br>**Buildings**<br>**Leasehold**<br>**Buildings**<br>**£**<br>**£**<br>Gross book value at 1 January 2022<br>280,000<br>120,000<br>Additions<br>**-**<br>**-**<br>Disposals<br>**-**<br>**-**<br>Revaluations<br>**-**<br>**-**<br>Gross book value at 31 December 2022<br>**280,000**<br>**120,000**<br>Depreciation at 1 January 2022<br>**-**<br>18,180<br>Charge for the year<br>**-**<br>1,212<br>Elimination on disposal<br>**-**<br>**-**<br>Depreciation at 31 December 2022<br>**-**<br>**19,392**<br>Net book value at 31 December 2022<br>**280,000**<br>**100,608**<br>Net book value at 31 December 2021<br>**280,000**<br>**101,820**<br>See note 12.4 for details of buildings.<br>**8**<br>**Debtors**<br>Amounts falling due within one year:<br>Prepayments & accrued income<br>Total debtors falling due within one year<br>**9**<br>**Short term investments & deposits**<br>Shares:<br>COIF Charity Funds - 860.65 shares (2021 860.65)<br>Methodist Holiday Hotels Ltd - 1,124 shares (2021 1,124) of £1 each<br>Deposits:<br>Central Board of Finance of the Church of England<br>Chelmsford Diocesan Board of Finance|**Equipment**<br>**£**<br>58,338<br>**-**<br>**-**<br>**-**<br>**58,338**<br>47,918<br>2,245<br>**-**<br>**50,162**<br>**8,176**<br>**10,420**<br>**31/12/2022**<br>**£**<br>**6,055**<br>**6,055**<br>**31/12/2022**<br>**£**<br>**15,642**<br>**1,124**<br>**412,163**<br>**16,831**<br>**445,760**|**Total**<br>**£**<br>**458,338**<br>**-**<br>**-**<br>**-**|
|---|---|---|
|||**458,338**|
|||**66,098**<br>**3,457**<br>**-**|
|||**69,554**|
||||
|||**388,784**|
||||
|||**392,240**|
|||31/12/2021<br>£<br>11,145|
|||11,145|
|||31/12/2021<br>£<br>17,700<br>1,124<br>431,254<br>22,558|
|||472,636|



The COIF Charity Funds shares are valued at 1,817.49 pence (2021 2,056.64) per share. The shares in Methodist Holiday Hotels Ltd are valued at par (2021 par). 

|**10**<br>**Creditors**<br>Amounts falling due within one year:<br>Creditors for goods & services<br>Total creditors falling due within one year<br>**11**<br>**Analysis of  Net Assets Between Funds**<br>**Unrestricted**<br>**Funds**<br>**£**<br>Tangible fixed assets<br>**1,921**<br>Current assets<br>**24,878**<br>Current liabilities<br>**(9,571)**<br>**17,228**|**Restricted**<br>**Funds**<br>**£**<br>**6,255**<br>**476,471**<br>**-**<br>**482,726**|**Endowment**<br>**Funds**<br>**£**<br>**380,608**<br>**16,831**<br>**-**<br>**397,439**|**31/12/2022**<br>**£**<br>**9,571**<br>**9,571**<br>**Total**<br>**Funds at**<br>**31/12/2022**<br>**£**<br>**388,784**<br>**518,180**<br>**(9,571)**<br>**897,393**|31/12/2021<br>£<br>13,050|
|---|---|---|---|---|
|||||13,050|
|||||Total<br>Funds at<br>**31/12/2021**<br>£<br>392,240<br>569,498<br>(13,050)|
|||||948,688|



Page 20 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **12 Analysis of Movement of Funds** 

12.1 Endowment Funds 

|Endowment Funds|||||||
|---|---|---|---|---|---|---|
|Tithe Chancel<br>Freehold Land & Buildings<br>Leasehold Buildings<br>Total|Balance<br>31/12/2021<br>£<br>22,558<br>280,000<br>101,820|Incoming<br>Resources<br>£<br>562<br>-<br>-|Resources<br>Used<br>£<br>-<br>-<br>(1,212)|Transfers<br>£<br>(3,707)<br>-<br>-|Gains and<br>Losses<br>£<br>(2,582)<br>-<br>-|**Balance**<br>**31/12/2022**<br>**£**<br>**16,831**<br>**280,000**<br>**100,608**|
||404,378|562|(1,212)|(3,707)|(2,582)|**397,439**|



- 12.2 Restricted Funds 

|Waltham Abbey<br>Fabric Fund<br>Internal Concerts<br>Organ Fund<br>Organ Scholarship Fund<br>Youth Work (Leadbetter)<br>Bruton Fund<br>St Lawrence<br>St Lawrence Projects<br>St Lawrence Pre-School<br>Total|Balance<br>31/12/2021<br>£<br>385,370<br>87<br>8,591<br>2,235<br>24,931<br>10,000<br>486<br>53,036|Incoming<br>Resources<br>£<br>5,207<br>-<br>2,407<br>31<br>329<br>-<br>-<br>78,106|Resources<br>Used<br>£<br>(10,098)<br>(87)<br>(1,159)<br>-<br>-<br>-<br>-<br>(75,693)|Transfers<br>£<br>(864)<br>-<br>(104)<br>(2)<br>(30)<br>-<br>-<br>-|Gains and<br>Losses<br>£<br>(53)<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**Balance**<br>**31/12/2022**<br>**£**<br>**379,562**<br>-<br>**9,735**<br>**2,264**<br>**25,230**<br>**10,000**<br>**486**<br>**55,449**|
|---|---|---|---|---|---|---|
||484,736|86,080|(87,037)|(1,000)|(53)|**482,726**|



## 12.3 Unrestricted Funds 

|Balance<br>31/12/2021<br>£<br>Waltham Abbey<br>General Fund<br>44,568<br>Abbey Church Centre (Rand)<br>10,030<br>Organ Fund<br>1,218<br>St Lawrence<br>St Lawrence General<br>3,758<br>Total<br>59,574<br>**Total Funds**<br>**948,688**|Balance<br>31/12/2021<br>£<br>Waltham Abbey<br>General Fund<br>44,568<br>Abbey Church Centre (Rand)<br>10,030<br>Organ Fund<br>1,218<br>St Lawrence<br>St Lawrence General<br>3,758<br>Total<br>59,574<br>**Total Funds**<br>**948,688**|Incoming<br>Resources<br>£<br>149,750<br>56<br>-<br>18,558|Resources<br>Used<br>£<br>(189,912)<br>(4,631)<br>(1,218)<br>(17,651)|Transfers<br>£<br>10,162<br>(5,455)<br>-<br>-|Gains and<br>Losses<br>£<br>(2,005)<br>-<br>-<br>-|**Balance**<br>**31/12/2022**<br>**£**<br>**12,563**<br>**-**<br>-<br>**4,665**|
|---|---|---|---|---|---|---|
||59,574|168,364|(213,412)|4,707.00|(2,005)|**17,228**|
||||||||
||**948,688**|**255,006**|**(301,661)**|**-**|**(4,640)**|**897,393**|



Page 21 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## 12.4 Details of endowment funds 

## **Tithe Chancel** 

Custodian Trustee Chelmsford Diocesan Board of Finance Managing Trustee Waltham Abbey PCC Object The income may be used for chancel repairs or general fire insurance of the whole church building. 

## **Land & Buildings** 

Land and Buildings comprises Abbey Gardens House. This property was valued on 28 January 1999 by Michael Adkins of J B Property Services.  The valuations represented the asking price on the private treaty market. The PCC considers it inappropriate to incur expenditure on new valuations. 

The St Lawrence Church building is in the freehold of the Diocese of Chelmsford and is not capitalised. 

During the year ended 31 December 2007 the PCC purchased a lease for a period of 99 years for the Church Centre. 

## 12.5 Details of Restricted Funds 

Restricted funds are listed in note 12.2, and may be used only for the purposes inherent in their titles. 

## **13 Monies collected on behalf of other organisations** 

During the year the PCC collected wedding and funeral fees on behalf of the Diocese and donations on behalf of other charities and organisations. These amounts have not been included in the Statement of Financial Activities, since the amounts do not belong to the charity. At the year end there was a balance of £1,254 owing to other organisations, this amount has been included within creditors 

|**Diocesan fees**<br>Balance brought forward<br>Wedding and Funeral fees received<br>Fees remitted to diocese<br>**Other charities and organisations**<br>Balance brought forward<br>Donations received<br>Donations remitted|**£**<br>3,911<br>8,960<br>(11,617)|
|---|---|
||1,254|
||**£**<br>-<br>644<br>(644)|
||-|



Page 22 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

## **14 Contingent Assets & Liabilities** 

There were no contingent assets or liabilities as at 31 December 2022. 

## **15 Commitments** 

The PCC has a liability to carry out a range of repairs to the church building over the next five years as identified in the quinquennial report. Our Architect, Sherry Bates, has outlined an ambitious and thorough proposal for wrapping all the Category 1 and Category 2 recommendations in the report, provision for these plans has not been made in these financial statements as they are still in the preliminary stages. General repairs are ongoing. 

## **16 PCC Members and Connected Persons Transactions** 

|16.1 PCC members' expenses reimbursed<br>Travel and subsistence<br>Total number of PCC members reimbursed<br>16.2 PCC members' and connected persons remuneration<br>PCC members and other remuneration as follows;<br>Name<br>Reason<br>Role<br>Rev T Scott<br>Expenses<br>PCC Member<br>Rev P Smith<br>Expenses<br>PCC Member<br>J Meaden<br>Expenses<br>PCC Member<br>M Meaden<br>Wages<br>Verger|**2022**<br>**£**<br>2,049<br>2,049<br>**3**<br>**2022**<br>**£**<br>**373**<br>**1,565**<br>**111**<br>**2,406**|2021<br>£<br>2,194|
|---|---|---|
|||2,194|
||||
|||4|
|||2021<br>£<br>416<br>1,778<br>-<br>869|



## 16.3 Clergy Pay 

Stipendiary clergy (Rev Peter Smith) are paid by the Diocese of Chelmsford.  The majority of the Parish Share paid to the Diocese by the parishes is used to fund clergy pay and housing.  In addition fees received by the PCC for clergy (stipendiary and non-stipendiary) officiating at weddings and funerals are remitted to the Diocese to supplement funding for clergy stipends. 

Page 23 



## **WALTHAM ABBEY PAROCHIAL CHURCH COUNCIL** 

- 16.4 Details of transactions with PCC members or connected persons 

There were no transactions with PCC members or connected persons during the year, other than as shown in 16.2 

- 16.5 Trustee Indemnity Insurance 

No insurance premium has been paid to indemnify the PCC against any loss arising from the neglect or default of any of its members. 

## **17 Loans or Guarantees Secured Against Assets of the PCC** 

No loans or guarantees have been secured against any assets of the PCC. 

## **18 Connected Organisations** 

The Friends of Waltham Abbey is not technically a Connected Organisation.  However the PCC wishes to acknowledge with gratitude rent payments and donations towards the maintenance and heating of the fabric of the church. 

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