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2022-12-31-accounts

Chigwell & Chigwell Row Team Ministry

Annual Report and

Financial Statements

for the year ended 31[st] December 2022

Registered Charity Number 1133035

Chigwell & Chigwell Row Team Ministry – Annual Report of the Parochial Church Council for the Year Ended 31 December 2022

Contents Page
Trustees’ Responsibilities 3
Treasurer’s Report 13
Independent Examiner’s Report 19
Statement of Financial Activities 20
Balance Sheet 21
Notes to the Accounts 22

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Chigwell & Chigwell Row Team Ministry – Annual Report of the Parochial Church Council for the Year Ended 31 December 2022

ADMINISTRATIVE INFORMATION

The Chigwell and Chigwell Row Parish is in the Diocese of Chelmsford within the Church of England and forms part of the Benefice of the Vale of Roding. The Parish has three church buildings – St Mary’s Chigwell, St Winifred’s Chigwell, and All Saints’ Chigwell Row.

The Parochial Church Council (PCC) is a charity registered with the Charity Commission Registered Charity Number 1133035. The PCC has delegated some of its functions to the individual churches’ District Church Councils, in accordance with the Pastoral Scheme for the Benefice Ministry dated 2019.

The Parochial Church Council

The Clergy, LLMs, Churchwardens and Deanery Synod members are all ex-officio members of the PCC.

Ex-Officio Members: Team Rector Rev’d Charlie Kosla Team Vicar Rev’d Paula Preston Associate Priests Rev’d Lorraine Smart Rev’d Ann Kosla Licensed Lay Minister Sandie Forshaw Churchwardens St Mary’s Alison Jordan Carolyn Whiffin St Winifred’s Janice Randall Daniel Forshaw All Saints’ Helen Ellis-Poole Brenda Tarman Deanery Synod St Mary’s Richard Kinder Representatives St Winifred’s Ade Adekunjo All Saints’ John Barber Elected St Mary’s Philip Gittins, William Box, Representatives Shirley Austridge, Trish Johnson (from April 2022)

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St Winifred’s Bill Darke, Gill Darke, Kim Osbourne one vacancy

All Saints’ Cindy Barber, Alan Tarman, Paul Preston, Robert Fleming (until April 2022) then one vacancy

All members of the PCC are Trustees of the Charity.

Correspondence Details Bankers

Mr John Barber HSBC 2 Glebelands 74 High Street Chigwell Barkingside, Ilford Essex IG7 5QG Essex IG6 2DN

CCLA Investment Managers Ltd St Alphage House 2 Fore Street London EC2Y 5AQ

Independent Examiner

Peter Saltiel Church & Charity Accounts Service Planchadeau 23460 Saint Pierre Bellevue

Limousin France

(formerly 69 Portland Place, Greenhithe, Kent DA9 9FE)

Structure, Governance and Management

The method of appointment of PCC members is set out in the Church Representation Rules. All regular Church attenders are encouraged to register on the Electoral Roll and stand for election to the PCC.

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Objectives and Activities

The PCC has the responsibility of co-operating with the clergy, Rev’d Charlie Kosla, and the ministry team, in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

TRUSTEES’ RESPONSIBILITIES

The law applicable to charities in England and Wales requires the members of the PCC to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the PCC and of the incoming resources and application of resources during the year then ended. In preparing those financial statements, the members of the PCC should follow best practice and are required to:

The members of the PCC are responsible for ensuring that proper accounting records are maintained which disclose with reasonable accuracy at any time the financial position of the church and which enable them to ensure that the financial statements comply with the Church Accounting Regulations 2006 and the Charities Act 2011. The members of the PCC are also responsible for safeguarding the church’s assets and hence for taking reasonable steps towards the prevention and detection of fraud and other irregularities.

The members of the PCC are responsible for the maintenance and integrity of the corporate and financial information.

Going Concern

The financial statements have been prepared on a going concern basis and the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held in each part of the Charity and the expected level of income and expenditure for 12 months from the date of authorising these financial

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statements. In their opinion, the budgeted income and expenditure is sufficient with the level of reserves for the charity and with monitoring of discretionary costs to be able to continue as a going concern.

Fund Balances

Fund balances are split between unrestricted (general and designated), and restricted funds.

Tangible Fixed Assets

The Charities SORP 2015 and Church of England Guidance to PCCs (4th edition) require all non-consecrated buildings to be capitalised as fixed assets in the balance sheet. The church land and buildings cost element in the note records the works carried out on non-consecrated buildings within the sites.

REPORT ON THE PROCEEDINGS OF THE PCC

What is normal?! Well 2022 was going in the right direction! Meeting in church each week, holding events, and fewer meetings on Zoom…

That said, we have maintained our presence online throughout the year. Each week, the ministry team broadcasts Morning Prayer on Facebook, and many people listen online during the day. Facebook also helps with advertising our events. Our parish

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magazine Unity and our weekly newsletter Notes & News are published online, keeping us in touch with members past and present, and hopefully future ones too.

In person, it was good to be back every week in our church buildings, even if they do present challenges of their own. We began the year part-way through the replacement of the lady chapel roof of St Mary’s, a tremendously complex, not to mention expensive, task and we are grateful to all those involved in seeing through this project, and donating towards it. Both St Winifred’s and All Saints’ have their own building projects ongoing as well.

In the early part of the year, we ran the Living in Love and Faith course on behalf of the benefice, both in person and on Zoom. A note of our responses was forwarded by individuals and the Deanery to the national church.

The PCC agreed to back Rev’d Paula Preston to lead the ‘Community for Ukrainians’ in our parish, and in due course a number of Ukrainians have joined our community as part of the Diocesan/Citizens UK initiative, and others have also helped in various ways.

It was good that our usual Easter services could be held in person; there was a good turnout on the Walk of Witness from All Saints’ to St Winifred’s. It was a bright, sunny Good Friday, giving opportunities to talk to others en route. A one-off Messy Easter was held, which was well received, and we also enjoyed a Sunrise service, breakfast and Easter Egg hunts.

During the year, the churches celebrated Her Late Majesty’s Platinum Jubilee, working together with the local communities, where possible, to put on events. It was good to be able to join together and share Her Late Majesty’s faith.

Sadly, it was only to be a few months until Her Late Majesty went to be with her Lord and Saviour, and we opened all our churches so that parishioners could come in to light a candle and write in the books of condolence. We are grateful to our wardens for facilitating this time.

Later in the year, we invited those who had been bereaved to our annual Memorial services and ‘Light up a Life’, held at Christmas time by St Clare Hospice.

In July, Franklin Graham came to the UK for the God Loves You tour. A party went to the London event, and subsequently All Saints’ hosted a Discovery Group for the local area. This course led onto a further course, ‘Moving On’, following which several people were confirmed at the Deanery service in October.

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During the year, it was decided to look again at our pattern of services. Changes made were to the distribution of Holy Communion services, an all-age focus on the first Sunday of the month, and the ceasing of the 5[th] Sunday and summer united services. These had occasionally resulted in newcomers finding an empty church on their first visits. Instead, we are now holding a monthly Evening Service, which gives an opportunity not only to get together as a parish, but to have a variety of different services.

There is value in continuity, and it was good that the year enabled the regular pattern of meetings for all ages, from Sunday groups for the children to get togethers for Time4Tea for the slightly older ones(!), not forgetting the breakfasts and meetings of the Men’s Group and The Thursday Club ladies.

And to finish off the year, a Christmas with no restrictions! It was marvellous to celebrate with our communities, with a full range of services on offer. We also took the opportunity to share the viewing of the World Cup final, which led into one of the carol services.

Looking forward to 2023, the benefice will be celebrating together at a Twelfth Night Party and holding a joint Alpha course in the New Year.

Our grateful thanks, as always, go to all who have served the parish on the PCC during 2022, for your prayers, wisdom and expertise, as we seek to further God’s kingdom in our area.

Sandie Forshaw Secretary

DEANERY SYNOD

We are part of the Deanery of Epping Forest and Ongar and are represented on Deanery Synod as follows:-

Deanery Synod Lay Standing Committee Diocesan Synod
Representatives
Ade Adelekunjo Rev’d Lorraine Smart Rev’d Paula Preston
(St Winifred’s) Richard Kinder Richard Kinder
John Barber (All Saints’)
Richard Kinder (St Mary’s)

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Mission Agency

Synod continued its mission agency focus centred on the Church’s five Marks of Mission.

17th March 2022

Synod was held via Zoom and served as a post-Covid reflection. Zoom was seen as complementary to physical meetings or services, not as a replacement. Further synods were planned as live events.

Parish Share payments year to December 2021: notwithstanding the ravages of Covid, 90% had been paid. 17 churches were meeting 100%, two were expected to fall below 50%, with others expected to reach 100% by the financial year end.

The main points from the Diocesan Report were noted:

  1. The Cathedral had achieved a gold Ecochurch award

  2. Many churches would be running Living in Love and Faith for Lent

  3. A Code of Conduct was to be introduced for PCC members

  4. The Parish Share figures (new formula) would be sent to Deaneries by September

  5. The Mustard Seed Team was responding well to the Growing Faith Project.

6th June 2022

Synod, to be held at St John’s School, was cancelled due to the unavailability of the speaker. This meeting was replaced by one held with the clergy to discuss the new Parish Share Scheme passed by Diocesan Synod in June.

7th November 2022

Churchwardens were invited and the Bishop of Chelmsford addressed Synod. Her policy for the Diocese would be influenced by grassroots congregations, with Deaneries having more meaningful roles.

The status of migrant housing was reported, MMUs were to exist where effective, and a report on ‘How Clergy Thrive’ was available. Finances remained positive.

Richard Kinder and the Rev’d Paula Preston are also members of Diocesan Synod.

A range of topics have been addressed over the year.

Richard Kinder St Mary’s Church

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TEAM RECTOR’S REPORT

“I will repay you for the years the locusts have eaten— the great locust and the young locust, the other locusts and the locust swarm — my great army that I sent among you. Joel 2:25-26

Strange verses to begin a report that tries to sum up 2022? These are often quoted completely out of context to point out that God is the great restorer of nations, kingdoms and people like us, which of course is true. As we look back to 2022, I find myself asking; have we moved forward in trusting God to guide his church, or are we holding the reins tightly, keeping control and avoiding any risk? Are we allowing God to restore us and move us forward in faith?

The past year seems to have been a continuation of recovery from the ongoing effects of Covid across the church as we have seen group connections move from zoom back to the physical, but new ways of working together have emerged with some meetings and worship remaining online. Covid has certainly seemed to drain away faith and energy from the church, but the time has come not just to recover what “the locusts have eaten” but to look to growth and evangelism. I still remember ++Stephen Cottrell when he was our Bishop standing up at Diocesan Synod during a debate on finance and stating, “all these figures are not worth the paper they are written on unless we do evangelism.” Restoration and recovery are taking place across the team but we must always have a “what’s next God?” question in the background.

In 2022

We welcomed Lynne Cullens as our new Bishop of Barking. I have invited her to come to the team in the Autumn of 2023.

After years of national discussion, we were invited to participate in Living in Love and Faith, the CofE course on sexuality. My thanks to those who participated in the course and gave me feedback. However the vast majority across the churches did not express your opinions on this matter to me, so my feedback to the national church was from the few.

As I write this in 2023, I need to mention that in March 2023, we celebrated the completion of the restoration of St Mary’s roof and tower. This was a huge undertaking not just in cost but immense problems we had in working around the mobile phone masts. I cannot express my thanks strongly enough to those who contributed financially to the work, our architect, the St Mary’s team, PCC and notably William Box. Well done all!

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Towards the end of 2022, we also saw the completion of All Saints’ new projection system alongside the new audio, resulting in book-free services. Looking forward, the advent of broadband will also offer new possibilities at All Saints’ and St Mary’s.

The Ukraine refugee crisis prompted a huge response including from our diocese in setting up a Homes for Ukrainians scheme with Citizens UK. My thanks to Paula in setting up the Chigwell Community for Ukrainians Support Group, linking with local councillors and the diocese, as well as those in the church and community who have or are currently hosting Ukrainians.

Mission and evangelism

We took a minibus to see Franklin Graham, followed by the Discovery course. We also ran the Start course explaining the Christian faith, and the Moving On course, which culminated with six people confirmed from our team in 2022.

My aim is to have a nurture/enquirers course every year not just for new people, but for those who want to explore the faith they already have.

Homegroups are the places where Christians can grow in fellowship and faith, and we do not have enough. I welcome suggestions for new group leaders and hosts. Resources for groups can always be provided.

Links with our local schools have increased not just in Chigwell and Chigwell Row but across the benefice as a whole, with former connections being restored. There are more invitations to speak at assemblies and requests to visit our buildings. We have also seen new opportunities eg a Sikh faith school in Chigwell wanting to find out about our festivals.

Her Majesty the Queen’s Jubilee and death in 2022 presented both challenges and opportunities for us to share in the celebration and later loss of the nation. Many of our people were motivated to open our churches and put on events in partnership with the community. It was a good creative effort across the team.

I could continue with other examples of what has taken place in 2022, including the regular and seasonal events which continue to do excellent work in welcoming the community, fundraising, partnering with charities and council. There were great Days with a Difference at St Winifred’s during half term with many coming with their families. Partnering with the Red Balloon Foundation in youth ministry at All Saints’ House and Limes Farm. 3Food4U and Time2DeStress are now well established at All Saints’.

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As always, I am grateful for being here and working with our ministry team, leaders, preachers, Church officers, wardens, treasurers, PSOs, children’s leaders, musicians/singers, and the ministry of welcome. A team such as ours needs good administration which we do have, and especially thank you to those who have stepped into the gaps in 2022.

Some thoughts and dreams for 2023

We are beginning to work better with Stapleford Abbotts and Lambourne churches not just in social events but also in ministry. A lot of my work is taken up supporting Rev’d Roger Gayler in working with two fragile yet vibrant congregations whose only income is voluntary giving and flower festivals etc. I hope this relationship deepens in support and prayer.

There is always a need for evangelism and growth, but I really want us to grow in personal faith and discipleship. I have mentioned homegroups and the importance of fellowship, but how can we deepen the faith of our own people?

I reiterate last year’s comments, in that we need people young and old to step forward and have a go at ministering across the board. Please don’t wait to be asked, if you want to try a reading or leading prayers on Sunday, ask Lorraine, Paula or me. Training can be given. Whatever we do must be ‘prophetic’ ie inspired by God, which can mean that the thought or urge in our minds may be the Spirit of God’s prompting. I try to make space on Sundays for sharing which is only taken up by the regular few. Have a look at 1 Corinthians 14:26.

How can we improve our buildings? Yes of course money is the big factor, but do we have a vision for our buildings that seeks to make them better for mission to the community? “The church is the only society on earth that exists for the benefit of non-members.” (Archbishop William Temple). We are blessed with good buildings that must evolve for the future and not become museums of the past. Do we have a vision for the future of St Mary’s, All Saints’ and St Winifred’s? We will not be around for ever so what are going to pass on?

Finally

If you read the Old Testament, you will see God continually calls his people to turn to Him and seek His ways. Even after disastrous times, God is always in the business of restoration, whether it’s the walls of Jerusalem, rebuilding of the temple or his presence in people’s hearts and minds.

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So for all of us, may God restore “what locusts have eaten” ie whatever we have lost through life, situations, or pandemic, and bring us back close to him. May he fill you with the love of Jesus who refreshes and restores the soul.

God bless you all in 2023.

Rev’d Charlie Kosla Team Rector

PARISH FINANCE REPORT

Each of our three churches manages its own accounts and these have been combined into a single statement for the parish as a whole. The statement has been prepared on an accruals basis in a format to comply with Charities Statement of Recommended Practice FRS102. It consists of a Statement of Financial Activities (SOFA) and a balance sheet, together with details of income and expenditure and analyses of funds.

An additional feature of the accounts this year is the treatment of certain items of capital expenditure as fixed assets with a corresponding figure for depreciation. The accounts for 2021 have been restated to include the treatment of capital works in the same way.

Church resources are held in general, designated and restricted funds. St Mary’s Nursery is a restricted fund because incoming resources have to be spent in connection with the work of the Nursery. All three churches have designated fabric funds. All Saint’s DCC has designated the Lee Fund for the development of the church building and grounds to increase its use and to enhance worship, and has other designated funds for the maintenance of All Saints’ House.

Investment funds and the youth funds of all three churches are restricted funds. Most of the investment capital is held by St Mary’s in two historic funds to be used only for ecclesiastical purposes. One of those funds was reduced by £30k to help meet the cost of replacing St Mary’s roof. The youth funds are restricted because their source of income was donations from church members specifically for youth work.

The accounts have been independently examined and a report from the examiner is included.

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The Statement of Financial Activities indicates that total funds including gains on investments carried forward decreased by just over £14k during the year, £25k less than in 2021, combining an increase of just over £29k of income with a decrease in expenditure and revaluation of investment of £4k.

Income from planned giving and collections was comparable to the previous year but income from donations and income tax recoverable was much less due to the appeals in 2021 for funds to meet the cost of St Mary’s roof. However, this was offset by a significant increase in hall letting income, as the use of the buildings returned to prepandemic levels, and an increase in telecom mast income following improved contracts.

Nursery income increased by £20k and expenditure by £17k compared to 2021. However, the costs in 2022 still exceeded income by over £2k resulting in a further reduction in reserves.

The figure for charitable and missionary giving was £2,151 (38.9%) more than in 2021 and amounted to 7.2% of the combined income from planned giving and collections.

The major item of expenditure continues to be the Parish Share which was paid in full.

All three churches have significant balances in their designated funds and are wellplaced to fund ongoing maintenance and improvement plans. St Mary’s and St Winifred’s also have healthy balances in their general funds but the position at All Saints is less secure where the cost of maintaining the church exceeds its direct income. All Saints’ is seeking to increase income from giving and other uses of the church building, with the deficit continuing to be met from the income generated by All Saints’ House, to the possible detriment of its future condition.

Overall, the Ecclesiastical Parish of Chigwell and Chigwell Row as a registered charity continues to be a “going concern” financially, paying its Parish Share in full and meeting all other obligations. We continue to be indebted to members who give of their time and money to maintain God’s Church here in Chigwell and Chigwell Row.

John Barber Treasurer

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Balance Sheet Position

The total net assets at the balance sheet date totalled £527k (2021: £542k). Included in this figure are improvements and other fixed assets totalling £63k. Of the remainder, £221k is held in restricted funds (of which £145k is represented by historic endowments), leaving £307k in unrestricted funds. Within unrestricted funds, £247k is designated and £60k is general. The restricted fund includes £60k in the Development and Maintenance Depreciation fund, held as fixed assets, which will be used to cover future depreciation of assets over the remainder of their useful life in accordance with note 2.4.

The total cash balance at year end amounted to £321k of which £76k is restricted (see note 8) and of the balance £246k is designated leaving a deficit of £32k for general unrestricted funds, which is insufficient to cover unrestricted costs. However Gift Aid claims were made in early 2023 which will assist. Because of the ongoing funding of the Charity, a decision was made that cash backing for all designated and restricted reserves is not needed and a small amount of unrestricted costs are met from cash covering these funds. The Rector is targeting a return towards covering at least three months of normal operating activities, based on budget figures.

The general unrestricted funds exceed the reserves policy as the Trustees are seeking to build cash to have sufficient to purchase or extend a property for staff or interns’ use (see below) as well as for operating activities.

Reserves Policy

It is the policy for each Church to maintain responsibility for its own funds. This involves fundraising and appeals to raise sufficient income to meet both its running costs and additional sums required for maintenance and development.

Each Church makes a monthly contribution to the central PCC fund which is only used to cover Ministry team expenses and Parish-wide evangelism and outreach and the policy is to retain a balance in this fund approximately equal to around two months running costs. This also allows for a contingency for one-off payments should the need arise. These payments are generally approved by the PCC members.

St Mary’s Nursery is responsible for its own income and expenditure and income cannot be used for general Church purposes. The Nursery is managed by St Mary’s Church who are liable for any costs should the Nursey be unable to generate funds to cover.

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The Reserves of the Nursery currently only cover a month’s fixed costs and the Nursery Management Committee are aware of this and are looking to increase reserves to at least two months’ costs. Government funding of early years childcare does control what the Nursery can charge.

In extreme cases, the churches may notify the Diocese if they are unable to maintain payment of their Parish Share, there is no facility to default on Insurance or Utility costs.

Free Reserves

We are a faith community and rely principally on funding from members of the congregation as led by God. It is the PCC’s policy for each DCC to maintain a balance of available general unrestricted funds in cash and bank accounts (where possible) to equate with three months (25%) of annual unrestricted payments, to cover emergency situations which may arise from time to time. This has not been achieved at 31 December 2022.

Designated Funds and Commitments

All Saints’ maintains separate designated funds for upkeep of its Church rooms and has liability for the upkeep of two flats. Their policy is available separately, however, as a result of obligations to the residential flats, a higher contingent reserve is held to cover unforeseen events. Funds are also held in respect of donations and grants received specifically for Organ, Bell Tower, stained glass and Churchyard repairs.

Although designated reserves are quite significant, All Saints’ have contracted to have their Hall Roof replaced in 2023 and their Bells overhauled. St Winifred’s have identified a Church Development programme and hope to make significant inroads into these works in 2023.

The PCC may designate additional unrestricted funds to be retained for an agreed purpose where this is considered to be prudent.

Such designated funds are reviewed on an annual basis and returned to the general unrestricted fund in the event that the purpose of their designation is no longer considered to be adequate justification for their retention.

A description of each fund together with the intended use of the fund is set out in note 16. At 31 December 2022 total designated funds were £247k (2021: £331k).

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Restricted Funds

The Churches which comprise the PCC hold several restricted funds, totalling £221k at 31 December 2022 (2021: £156k). A description of each fund together with the specified use of the fund is set out in note 16.

The Trustees consider that the operations continue to be viable given the current rate of income and unrestricted funds.

Risk Management

The PCC is responsible for the identification, mitigation and or management of risk. To achieve this, a register of all the risks identified is being drawn up and, alongside it, a management and mitigation strategy formed. This will be subject to review by the PCC on an annual basis with the responsibility for delivery of the mitigation strategies identified by it being delegated to the Churchwardens and reported to the PCC.

Risks

The risk register identifies four generic principle areas where the risk of either failure to act or the impact of the events is considered ‘high’. These areas and the associated mitigation strategies are:

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Each Church has proved that its key business can be transacted in online meetings. Correspondence with external contacts and payment made by and to them is mainly made electronically, reducing the need for in person meetings, should this be necessary.

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Independent Examiner’s Report to the Trustees / Members of the Parochial Church Council of the Ecclesiastical Parish of Chigwell & Chigwell Row Registered Charity No. 1133035 for the year ended 31st December 2022

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31st December 2022 set out on pages 20-32.

Responsibilities and basis of report

As the charity's trustees, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

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.

Peter Saltiel Church & Charity Accounts Service 7 Planchadeau, 23460 Saint-Pierre-Bellevue France Dated 30[th] April 2023

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PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Incoming & endowments
3
Donations & legacies
3.1
Charitable activities
3.2
Other trading activities
3.3
Investments
3.4
Other income
3.5
Total income & endowments		 TOTAL
Unrestricted
Restricted
FUNDS
Funds
Funds
2022
£
£
£
155,943
-
155,943
207,291
-
207,291
1,870
43,252
45,122
4,770
25
4,795
1,290
-
1,290
371,164
43,277
414,441		 TOTAL
FUNDS
2021
£
Restated
225,150
156,371
256
3,795
-
385,572
Expenditure
4
Fundraising costs
4.1
Charitable activities
4.2
Total expenditure
Net incoming/(outgoing) resources
Gains/(losses) on investment asse
7
Fund transfers
Net movement in funds
Total funds brought forward
Total funds carried forward		 38
-
38
332,977
91,972
424,949
333,015
91,972
424,987
38,149
(48,695)
(10,546)
-
(3,904)
(3,904)
(117,541)
117,541
-
(79,392)
64,942
(14,450)
385,938
155,846
541,784
306,546
220,788
527,334
220,788
527,334
-
-		 -
438,946
438,946
(53,374)
13,674
-
(39,700)
581,484
541,784
541,784
-

All activities are regarded as continuing.

The above statement includes all recognised gains and losses during the year.

The Notes to the accounts form part of the Financial Statements Church y end

20

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW BALANCE SHEET AT 310ECEM8ER 2022 Note5 2022 2021 Fixed a55ets Tangible fixed assets 63.050 26.873 Investments 145.464 179,368 Total fixed a5set5 208.514 206,241 Current assets Debtors Cash at bank and in hand 31.727 320.995 352.722 41, 171 309,546 350,717 c￿￿[tors.. amounts falling due within one year 10 {33.902) 115,1741 Net current a55ets 318,820 335.543 Total assets less turrent liabilit￿S 527334 S41,784 Creditor5: amounts falling due after one year io NEf ASSETS 527.334 541.784 Funds Unrestrirted funds li 60.270 55,41X) Designated Funds li 246.276 330,538 Restricted ftsnds li 155,846 527,334 541,784 Approved by the Parochial Church Council on the 27th April 2023 and signed on its behalf Chainnan PaTish L<ChL"yrnll & ChwEll RffiY.AllnU￿ Ryrt2022 Pay 21

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts, accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

They do not include the accounts of church groups that owe their affiliation to another body, nor those which are informal gatherings of church members.

1.2 Going concern

At the time of approving the accounts the Trustees have a reasonable expectation that the charity has sufficient reserves and that the charity is a going concern.

With effect from 1st January 2022, purchases of assets and major repairs to buildings apart from the Church have been capitalised and depreciated over their useful life over periods of 4-10 years.

1.4 Changes to previous accounts

As a result of the change in 1.3 above, prior year comparisons have been restated where appropriate for the purpose of consistency. There have been no other changes.

Parish of Chigwell & Chigwell Row - Annual Report 2022

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2 Accounting policies

Parish of Chigwell & Chigwell Row - Annual Report 2022

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PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 (cont’d)

2 Accounting policies (cont’d)

Endowment funds - funds the capital of which must be maintained; only income arising from the investment of the endowment may be used, either as restricted or unrestricted funds, depending on the purpose set out in the terms of the original endowment

2.2 Incoming resources

All incoming resources are accounted for gross.

Voluntary Income

Collections are recognised when received.

Planned giving receivable is recognised only when received.

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

Grants and legacies are recognised when the PCC is legally entitled to the amount due.

Income from investments

Interest is accounted for as it accrues.

All other income

All other income is recognised when it is receivable.

Gains and losses on investments

Realised gains are recognised when the investments are sold Unrealised gains and losses are accounted for on revaluation on 31 December.

2.3 Resources used

Resources expended are accounted for on an accruals basis and are accounted for gross.

Parish of Chigwell & Chigwell Row - Annual Report 2022

Page 24

Grants

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

Church Activities

The diocesan parish contribution is accounted for when paid. Any parish contribution unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the balance sheet.

2.4 Fixed Assets

Tangible fixed assets

Consecrated and beneficed property of any kind is excluded from the accounts by s.10 of the Charities Act 2011.

Movable church furnishing held by the Vicar 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 can be inspected. For inalienable property acquired prior to 2021 there is insufficient cost information available and therefore such assets are not valued in the accounts. Individual items acquired since January 2021 have been capitalised in the accounts and depreciated over their useful economic life.

Depreciation of fixed assets is 4 years in respect of ICT Equipment, 5 years for Furniture and 10 years for building and site improvements.

Investments

Investments are stated at market value at the balance sheet date.

2.5 Current Assets

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

Short-term deposits include cash held on deposit either with the CBF Church of England Funds, or at the bank.

Parish of Chigwell & Chigwell Row - Annual Report 2022

Page 25

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

3 Income & endowments
3.1 Donations & legacies
Planned giving
Collections at all services
Gift days
Sundry donations and appeals
Income tax recoverable
Grants
Legacies
Total donations & legacies
3.2 Charitable activities
Bookstall
Church & hall lettings etc
Fees from weddings etc
Income from Nursery School activities
Parish magazine
Alpha & donations for Charity
TEMP - PCC receipts from churches
Telecom mast income
Other income
Total charitable activities
3.3 Other trading activities
Fetes, bazaars &other fund-raising events
Other income
Total other trading activities
3.4 Investments
Dividends and interest
Total investments
3.5 Other income
Insurance claims
Miscellaneous
Total other income
Total income & endowments		 TOTAL
Unrestricted
Restricted
FUNDS
Funds
Funds
2022
£
£
£
94,084
-
94,084
12,428
-
12,428
-
-
-
20,568
-
20,568
28,863
-
28,863
-
-
-
-
-
-
155,943
-
155,943
-
-
-
79,476
-
79,476
11,886
-
11,886
87,754
-
87,754
888
-
888
-
-
-
-
-
-
26,816
-
26,816
471
-
471
207,291
-
207,291
1,870
43,252
45,122
-
-
-
1,870
43,252
45,122
4,770
25
4,795
4,770
25
4,795
-
-
-
1,290
-
1,290
1,290
-
1,290
371,164
43,277
414,441		 TOTAL
FUNDS
2021
£
98,136
6,918
-
79,840
40,256
-
-
225,150
-
54,932
10,253
66,997
2,340
-
-
21,190
659
156,371
256
-
256
3,795
3,795
-
-
-
385,572

26

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

Expenditure
Fundrasing costs
Fete costs
Charitable activites
Missionary and charitable giving:
Total grants
Diocesan parish contribution
Other clergy / ministry costs
Church running expenses
Repairs & maintenance
Upkeep of services
Upkeep of churchyard
Parish magazine
Other costs
Sunday school costs (incl training) + youth
Hall running costs
Other property costs
Nursery Costs
Funeral fees
Depreciation of fixed assets
Administration
Total charitable activities
Total expenditure		 TOTAL
Unrestricted
Restricted
FUNDS
Funds
Funds
2022
£
£
£
38
-
38		 TOTAL
FUNDS
2021
£
-
38
-
38		 -
7,686
-
7,686		 5,535
7,686
-
7,686
120,731
-
120,731
5,045
-
5,045
12,544
-
12,544
22,767
81,783
104,550
2,861
-
2,861
1,370
-
1,370
-
-
-
4,233
-
4,233
2,250
750
3,000
34,407
-
34,407
-
-
-
90,089
-
90,089
3,142
-
3,142
-
9,439
9,439
25,852
-
25,852		 5,535
120,865
3,308
22,584
148,152
1,009
563
(656)
7,310
-
33,719
-
73,356
3,581
1,465
18,155
332,977
91,972
424,949		 438,946
333,015
91,972
424,987		 438,946

4 Expenditure

4.1 Fundrasing costs

4.2 Charitable activites

27

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

5 Staff costs

**5 ** Staff costs
2022 2021
£ £
a Wages and salaries - -

During the year, St Marys Nursery employed staff in accordance with the numbers of children attending. The Nursery is registered with HMRC and dealt with its own tax and national insurance affairs. The clergy team are employed by Chelmsford Diocese. No other staff were employed by the charity and no employee received more that £60,000

b Payments to PCC members

Various members of the PCC claimed for, and were reimbursed for directly incurred expenses on production of appropriate receipts. The PCC Secretary is a self -employed PA and is paid a fee for being part time Secretary to the Rector. No other member of the PCC received any payment from the charity.

6 Tangible fixed assets

The Church buildings are owned by Chelmsford Diocese and therefore not carried at value within the Church accounts

Cost
At 31st December 2021
Additions in the year
At 31st December 2022
Depreciation
At 31st December 2021
Charge for the year
At 31st December 2022
Net Book Value
At 31st December 2021
At 31st December 2022
Investments
Market value 1 January 2022
Disposals at carrying value
Purchases at cost
Net gains and revaluation
Market value 31 December 2022		 Property &
Fixtures
Furniture &
Fittings
Audio, Visual
& Computers
10,484 - 17,854
23,656 5,256 16,704
34,140 5,256 34,558
349 - 1,116
2,876 707 5,856
3,225 707 6,972
10,135 - 16,738
30,915 4,549 27,586
Total
28,338
45,616
73,954
1,465
9,439
10,904
26,873
63,050
£
179,368
(30,000)
-
(3,904)
145,464

7 Investments

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PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

8 Analysis of Net assets by fund

Unrestricted Designated
Restricted
Funds
Funds
Funds
£
£
£
Fixed assets for church use
-
-
63,050
Investment fixed assets
-
-
145,464
Current assets
94,172
246,276
12,274
Current liabilities
(33,902)
-
Long term liabilities
-
-
-
60,270
246,276
220,788
Debtors
Income tax recoverable
Prepayments and accrued income
Creditors: amounts falling due within one year
Accruals for utilities and other costs		 Total Funds Total Funds
2022
2021
£
£
63,050
26,873
145,464
179,368
352,722
350,717
(33,902)
(15,174)
-
-
527,334
541,784
2022
2021
£
£
11,610
17,000
20,117
24,171
31,727
41,171
2022
2021
£
£
33,902
15,174
33,902
15,174

9 Debtors

10 Creditors: amounts falling due within one year

11 Statement of funds

Designated funds
All Saints
Fabric & Project
Lee fund
ASH fund
ASH fire alarm
ASH projects
ASH sinking
St Marys
Fabric
St Winifreds
Fabric
St Mary's Nursery		 Brought
Incoming
Resources
Transfers
Gains/
Carried
Forward
Resources
Expended
in/(out)
(Losses)
Forward
£
£
£
£
£
£
22,728
-
(4,848)
(4,010)
-
13,870
83,945
872
-
(30,204)
-
54,613
9,244
41,808
(18,817)
(25,119)
-
7,116
7,200
-
-
1,800
-
9,000
18,935
-
-
16,784
-
35,719
19,523
-
(1,870)
(3,626)
-
14,027
108,392
13,713
(6,551)
(67,472)
-
48,082
50,222
15,962
(3,600)
(6,749)
-
55,835
10,349
87,754
(90,089)
-
-
8,014
330,538
160,109
(125,775)
(118,596)
-
246,276

29

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022

11 Statement of funds (cont'd)

General funds
All Saints
St Marys
St Winifreds
PCC
Total unrestricted funds
Restricted funds
All Saints
Investments
Church Fabric fixed assets
Lee fund fixed assets
ASH projects fixed assets
Youth fund
St Marys
Investments
Roof
St Winifreds
Fabric
Youth fund
Total restricted funds
Total all funds
Unrestricted Fund
Designated Funds
Restricted Fund
Total funds		 Brought
Incoming
Resources
Transfers
Gains/
Carried
Forward
Resources
Expended
in/(out)
(Losses)
Forward
£
£
£
£
£
£
933
50,823
(55,167)
1,319
-
(2,092)
23,832
94,512
(90,761)
-
-
27,583
28,815
63,617
(58,344)
(264)
-
33,824
1,820
24,853
(25,718)
-
955
55,400
233,805
(229,990)
1,055
-
60,270
(22,750)
22,750
385,938
393,914
(355,765)
(117,541)
-
306,546
22,750
(22,750)
Church transfers to PCC
3,545
25
-
-
3,570
-
(305)
6,010
5,705
16,738
-
(7,206)
30,204
-
39,736
10,135
-
(1,928)
6,842
-
15,049
4,915
-
(750)
-
-
4,165
177,420
-
-
(30,000)
(3,904)
143,516
(58,941)
43,252
(81,783)
97,472
-
-
-
-
-
3,688
-
3,688
2,034
-
-
3,325
-
5,359
155,846
43,277
(91,972)
117,541
(3,904)
220,788
541,784
437,191
(447,737)
-
(3,904)
527,334
22,750
(22,750)
Bal b/fwd
Income
Expenditure
Transfers
Gains /
Bal c/fwd
1 Jan 2022
in/(out)
(Losses)
31 Dec 2022
£
£
£
£
£
55,400
211,055
(207,240)
1,055
-
60,270
330,538
160,109
(125,775)
(118,596)
-
246,276
155,846
43,277
(91,972)
117,541
(3,904)
220,788
541,784
414,441
(424,987)
-
(3,904)
527,334

30