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← The Parochial Church Council Of The Ecclesiastical Parish Of Chigwell And Chigwell Row

2023-12-31-accounts

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Chigwell & Chigwell Row Team Ministry

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Annual Report and

Financial Statements

for the year ended 31[st] December 2023

Registered Charity Number 1133035

Chigwell & Chigwell Row Team Ministry – Annual Report of the Parochial Church Council for the Year Ended 31 December 2023

Contents Page
Trustees’ Responsibilities 5
Treasurer’s Report 12
Independent Examiner’s Report 18
Statement of Financial Activities 19
Balance Sheet 20
Notes to the Accounts 21

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Chigwell & Chigwell Row Team Ministry – Annual Report of the Parochial Church Council for the Year Ended 31 December 2023

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 (until April 2023) Carolyn Whiffin (until April 2023) Joy Madeiros (from April 2023) Shirley Austridge (from April 2023) St Winifred’s Janice Randall (until April 2023) Daniel Forshaw All Saints’ Helen Ellis-Poole Brenda Tarman (until April 2023) Will Worth (from April 2023) Deanery Synod St Mary’s Richard Kinder (until April 2023) Representatives Sandie Forshaw (from April 2023)

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Deanery Synod St Winifred’s Ade Adekunjo Representatives cont All Saints’ John Barber (until April 2023) Paul Preston (from April 2023)

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

Elected St Mary’s until April 2022: representatives Philip Gittins, William Box, Shirley Austridge, Trish Johnson from April 2023: Alison Jordan, Richard Coates, Trish Johnson, one vacancy St Winifred’s until April 2022: Bill Darke, Gill Darke, Kim Osbourne, one vacancy from April 2023: Bill Darke, Gill Darke, Kim Osbourne, Janice Randall All Saints’ until April 2022: Paul Preston, Cindy Barber, Alan Tarman, one vacancy from April 2023: Cindy Barber, Brenda Tarman, two vacancies

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

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Independent Examiner

Peter Saltiel

Church & Charity Accounts Service Ltd 7 Planchadeau 23460 Saint Pierre Bellevue 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.

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:

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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 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.

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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.

SAFEGUARDING

We confirm that the PCC has complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops' guidance on safeguarding children and vulnerable adults).

A definition is - where a child or vulnerable adult may be being abused or mistreated, whether by someone working for or on behalf of the church or in their outside environment.

All constituent parts of the Charity follow the Church of England safeguarding policy and guidelines fully.

Will Worth Parish Safeguarding Lead

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REPORT ON THE PROCEEDINGS OF THE PCC

A wise Rector once said that the role of the PCC is to agree policy, the role of the DCCs is to implement it. And whilst the business of the PCC may appear at times to be somewhat distanced from the ‘coalface’ of mission, the District Church Councils collaborate in our primary goal of worshipping the Lord and supporting our local communities. Whilst finances play a large part in our PCC meetings, it is good to share other successes too.

During the year, we joined the rest of the Kingdom and Commonwealth in celebrating the Coronation of His Majesty King Charles III. All Saints’ Hall was packed as the Earl Grey Jazz Band entertained us during Afternoon Tea. St Winifred’s joined in with the community effort, litter picking around the local area and have embraced the 5[th ] Mark of Mission, to look after creation, having gained their Eco Church Bronze Award during the year. St Mary’s had a wonderful Coronation Lunch to which all were invited, and even the Rector was to be seen having a go on the bouncy castle!

St Winifred’s has continued to run ‘Days with a Difference’ during school holidays, inviting the local community in to share warmth (as seasonally appropriate), food and friendship. This well received event is so enjoyed by the local folk that it runs once a week in all the school holidays now.

During the year, we held an Alpha course in conjunction with the other parishes in our benefice, and once again took a party of interested folk to see Franklin Graham’s ‘God Loves You’ tour in London, as well as hosting a ‘Christian Life & Witness’ course.

Looking at premises issues, we are indeed thankful that we have been able to fund two substantial roof replacements on our buildings recently, and thanks are noted to all who have donated towards this outlay. Our attention is now moving towards making our premises more accessible, with an appropriate toilet in each church building and better and more modern facilities available for our hardworking refreshments teams, running water for example! We are right at the beginning of these projects but know that future generations will be grateful.

The pattern of services implemented last year has continued, with each of the churches open every Sunday morning throughout the year. We continue to get together as a benefice a couple of times a year, for a Twelfth Night Party at New Year and the Rector’s barbecue in the summer, which can have its own climatic challenges! Our monthly Evening Service gives an opportunity for the Chigwell parishioners to get together, with a variety of service styles.

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Whilst we wish to offer something for all ages and tastes, with many opportunities to get together apart from services, we are currently reviewing our youthwork options to see how best to support our young people and their friends.

Our year ended with a marvellous celebration of Christmas, with many packed services, not least those in conjunction with the neighbouring Chigwell School for two Carol Services at St Mary’s and good numbers attending services at both St Winifred’s and All Saints’ too. We were also invited to sing carols at a couple of local hostelries and old people’s homes.

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

Sandie Forshaw Secretary

DEANERY SYNOD REPORT

Two synods were held during the year on 17th January at St Mary’s, High Ongar and 28th June at St John’s, Epping.

Continuing the journey of the Deanery’s self-understanding as a mission agency (for the church’s five marks of mission), the January speaker was Mr Fabrizio Ferrari, the Public Health Improvement Officer from Epping Forest District Council. He presented the model the council is using, in partnership with outside agencies, to measure and improve health and wellbeing, highlighting areas of challenge. Initiatives were in progress in Ninefields, near Waltham Abbey, with further plans to include Alderton and Limes Farm.

The June meeting focused on the elections with the Lay Chair, Martin Lockwood, stepping down. In addition to the lay representatives from the Parish’s three churches, namely, Ade Adekunjo, Paul Preston and Sandie Forshaw, Richard Kinder remained as an ex officio member as a Diocesan Synod lay representative and the newly elected Deanery Lay Chair.

Rev’d Lorraine Smart (House of Clergy) and Richard Kinder (House of Laity) remain on the Standing Committee and are joined by Paul Preston (House of Laity). The Deanery Treasurer and Secretary remain in place.

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November’s planned Deanery Synod was cancelled the appointment of the Rev’d Canon Lee Batson as Dean of Newcastle, and the new Area Dean, Rev’d John Fry, not taking up the position until 1st January 2024.

Rev’ds Malcolm Macdonald, Peter Smith and Sam Brazier-Gibbs head the MMUs as Assistant Deans.

Richard Kinder

St Mary’s

TEAM RECTOR’S REPORT

According to the Daily Telegraph , Church of England attendance is currently 80% of what it was in 2019. As usual, the press only focuses on the Church of England and ignores the growth taking place in the independent churches. Another factor which is difficult to prove is that churches that are shrinking do not articulate or share their faith with the outside world. Growing churches are those who offer the Gospel and are open to the so-called “unchurched” (I hate that term), seeking to always bring people to faith.

2023 was a year when we had to stop blaming the pandemic for lower numbers, but thankfully the year ended with encouraging signs of growth, and I don’t just mean Sunday attendance. I am seeing signs of more people engaging with the churches of Chigwell and Chigwell Row and from one-to-one conversations, signs of a desire to know more about Jesus and the Christian faith.

We seem to be settling down but also looking to God for what’s next. New toilets and kitchens are great tools for mission, but true mission is the work of God through our people.

I don’t need to remind you of everything that took place in 2023, but a few examples of highlights.

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These are just a few of several other events in 2023 I could mention.

To conclude, I want to express my heartfelt thanks for the wonderful team we have in Chigwell and Chigwell Row. Over the years I have worked with different ministers and teams, and know when I'm part of a great team! In the wider team, there are too many names to mention, people who serve the church and God's mission in a huge variety of jobs and responsibilities. Thank you all so much!

In my third year here I feel a growing sense of friendship and support within the congregations which help us go through the storms of running a church and team. There are challenges ahead not just for us, but the Church of England whose leadership must remain in our prayers. Whatever we face in the future, both joys and

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sorrows, we face in the knowledge that God is with us. May all we do in the future be guided and energised by the Holy Spirit.

God bless

Rev’d Charlie Kosla

Team Rector

TEAM MINISTRY FINANCE REPORT

Each of our three churches manages its own accounts and these have been consolidated for the Team Ministry financial statements as indicated. The financial statement is 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. Certain items of capital expenditure have been treated as fixed assets with a corresponding figure for depreciation.

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 Saints’ 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. 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.

The Statement of Financial Activities indicates that income was just over £18k less than in 2022. However, expenditure also decreased by over £50k so, combined with gains on investments of £6k, total funds carried forward increased by £28k from the previous year.

Income from planned giving and collections was comparable to the previous year, as was income from charitable activities. Income tax recoverable was less, due to the

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tax recovered from donations in 2022 to meet the cost of St Mary’s roof. However, this was offset by receipt of grants and legacies that did not occur in the previous year.

Nursery income increased by £12k and expenditure by £6k compared to 2022. The income in 2023 exceeded expenditure by £3k resulting in a small increase in Nursery reserves.

The figure for charitable and missionary giving was £435 (5.7%) less than in 2022, and amounted to 6.8% (7.2% in 2022) of the combined income from planned giving and collections.

Total expenditure was £50k less than in the previous year when significant costs were incurred on repairs and maintenance.

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. 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.

Balance sheet position

The total net assets at the balance sheet date were £555k (£527k in 2022). Of this total, £265k is held in restricted funds (of which £151k is represented by historic endowments), leaving £290k in unrestricted funds. Within unrestricted funds, £228k is designated and £62k is general. The restricted fund includes £98k in the Development and Maintenance Depreciation funds, held as fixed assets, which will be used over the next ten years as depreciation is charged.

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The total cash balance at the end of the year amounted to £262k, some £98k of the restricted funds relates to funds to cover future depreciation and are covered by Fixed Assets The rest are covered by investments.

£36k of the investments cover Designated funds leaving £192k to be covered by cash.

The remaining cash is available to cover unrestricted funds and covers the unrestricted funds of £62k fully.

John Barber

Treasurer

CORONAVIRUS STATEMENT

Activities in 2023 have basically returned to pre-pandemic levels with services and meetings face to face. However, the virus has taught us that we can attract and interact with some folk who are unable to attend activities in any case. Opportunities continue to be explored to develop our work by offering in person and online activities, the continuing rollout of wifi in the Churches will assist.

2022 comparison figures do reflect the fact that we were very much in the recovery phase in that year.

PARISH RESERVES POLICY

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 2023. 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 pays an agreed part of the Parish share allocated to the Benefice directly to the Diocese. In addition, a monthly contribution is made to the central PCC fund which is used to cover Ministry Team and secretarial expenses, parish outreach initiatives and central expenses such as the cost of an Independent Examination. The

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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. Excess balances are returned to the contributing Churches at the end of each year.

St Mary’s Nursery is responsible for its own income and expenditure and reserves. Surpluses cannot be used for general Church purposes.

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

Each Church maintains its own Fabric fund for the upkeep of its buildings and has a plan and policy for future refurbishment. All the Church buildings are at risk of needing specialist repairs, possibly at short notice.

Designated funds

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’ has replaced the hall roof in 2023 and had the bells overhauled. St Winifred’s has identified a Church Development programme which will start in January 2024.

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 11. At 31 December 2023 total designated funds were £228k (2022: £246k).

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Restricted funds

The Churches which comprise the PCC hold several restricted funds, totalling £264k at 31 December 2023 (2022: £220k). A description of each fund together with the specified use of the fund is set out in note 11.

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

Risk Management statement

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 five generic principal 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:

 Reduced Income:

Reduction in income from donors. This can be affected by donors being unable to maintain their giving or moving away from the Church. All three Churches have members who individually donate significant sums during the year. Giving is recorded by the Treasurers who are the only Officers who are aware of how much an individual gives and is reported to the DCCs regularly during the year and affects decisions taken over discretionary spend.

 Safeguarding:

Where a child or vulnerable adult may be being abused or mistreated, whether by someone working for or on behalf of the church or in their outside environment. Each church has appointed a Safeguarding Officer who is reelected at the Annual District Church Meeting (ADCM) and ratified by the PCC and disclosed in the safeguarding statement above.

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• Catastrophic Building Failure or Major Repairs

The church holds insurance for all major risks that the church site is exposed to, subject to the insurance being available at an economic price.

Each Church site is subject to a Quinquennial Inspection from an architect approved by the Diocesan Advisory Committee and appointed by the PCC who specifies repairs to be undertaken within the following five years. Each Church maintains a thorough maintenance and renewal programme based on the previous Quinquennial report as far as this is possible with major issues and regular preventative maintenance and servicing prioritized.

• Uncertainties

In addition to the risks identified above, in light of the Pandemic, the PCC acknowledges continuing uncertainties in relation to the church’s operations in 2024. These include whether church members and visitors will continue and grow. As a result of the Pandemic, the Churches now have developed strategies to service those who cannot attend Church services and prefer to worship online. Midweek Morning prayer is generally on Facebook, allowing those housebound to attend. The PCC and DCCs are continually looking at new ways of attracting donations and all have contactless card readers available. The introduction of wifi in Churches will permit the development of live streaming of worship, including “life event” services in the future.

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.

• Reputational

This is where the Church loses members and fails to gain new membership by the actions it takes or doesn’t take as appropriate. This could include but is not limited to, inappropriate religious teaching, dangerous or dirty buildings, formation of cliques or groups within the existing Church and lack of welcome and encouragement to those wishing to develop, grow or maintain their faith.

Each Church provides regular training and team building for those on welcome duties, follows the Church of England lectionary and invests in keeping its

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buildings and grounds safe and clean for all users and acting promptly and appropriately towards concerns raised.

John Barber Treasurer

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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 2023

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31st December 2023 set out on pages 20-30.

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 Ltd 7 Planchadeau, 23460 Saint-Pierre- Bellevue

France

Dated 20[th] April 2024

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PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

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
2023
£
£
£
165,555
1,861
167,416
215,306
-
215,306
2,980
-
2,980
8,759
90
8,849
2,060
-
2,060		 TOTAL
FUNDS
2022
£
Restated
155,943
207,291
45,122
4,795
1,290
394,660
1,951
396,611		 414,441
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		 382
-
382
357,632
16,496
374,128		 38
424,949
358,014
16,496
374,510		 424,987
36,646
(14,545)
22,101
-
6,043
6,043
(52,705)
52,705
-		 (10,546)
(3,904)
-
(16,059)
44,203
28,144
306,546
220,788
527,334		 (14,450)
541,784
290,487
264,991
555,478		 527,334

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

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PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

BALANCE SHEET AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible fixed assets
6
Investments
7
Total fixed assets
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one year
10
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after one year
10
NET ASSETS
Funds
8
Unrestricted funds
11
Designated Funds
11
Restricted funds
11		 27,241
262,022

Approved by the Parochial Church Council on the 16th April 2024 and signed on its behalf

Chairman

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PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

There have been no changes to the basis of accounting.

There have been no changes to the previous accounts.

2 Accounting policies

Funds held by the PCC are:

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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.

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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.

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.

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Investments

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

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.

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PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Income & endowments
3.1 Donations & legacies
Planned giving
Collections at all services
Sundry donations and appeals
Income tax recoverable
Grants
Legacies
Total donations & legacies
3.2 Charitable activities
Church & hall lettings etc
Fees from weddings etc
Income from Nursery School activities
Parish magazine
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
Miscellaneous
Total other income
Total income & endowments		 Unrestricted
Designated
Funds
Funds
£
£
93,050
600
12,250
-
10,686
13,950
23,993
-
-
5,000
682
5,344		 TOTAL
Unrestricted
Restricted
FUNDS
Funds
Funds
2023
£
£
£
93,650
-
93,650
12,250
-
12,250
24,636
1,861
26,497
23,993
-
23,993
5,000
-
5,000
6,026
-
6,026		 TOTAL
FUNDS
2022
£
94,084
12,428
20,568
28,863
-
-
140,661
24,894		 165,555
1,861
167,416		 155,943
38,151
43,272
13,176
-
-
99,349
488
-
8,584
11,000
1,286
-		 81,423
-
81,423
13,176
-
13,176
99,349
-
99,349
488
-
488
19,584
-
19,584
1,286
-
1,286		 79,476
11,886
87,754
888
26,816
471
61,685
153,621		 215,306
-
215,306		 207,291
1,138
-
1,842
-		 1,138
-
1,138
1,842
-
1,842		 45,122
-
2,980
-		 2,980
-
2,980		 45,122
6,675
2,084		 8,759
90
8,849		 4,795
6,675
2,084		 8,759
90
8,849		 4,795
2,060
-		 2,060
-
2,060		 1,290
2,060
-		 2,060
-
2,060		 1,290
214,061
180,599		 394,660
1,951
396,611		 414,441
-
-
214,061
180,599
-
-		 1,951
396,611
-
-

26

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Expenditure
4.1 Fundraising costs
Fete costs
4.2 Charitable activities
Missionary and charitable giving:
Total grants
Diocesan parish contribution
Other clergy / ministry costs
Church running expenses
Repairs & maintenance
Upkeep of services
Upkeep of churchyard
Other costs
Sunday school costs (incl training) + youth
Hall running costs
Nursery Costs
Funeral fees
Depreciation of fixed assets
Administration
Total charitable activities
Total expenditure		 Unrestricted
Designated
Funds
Funds
£
£
382
-
382
-
6,362
-
6,362
-
112,119
-
18,597
-
18,298
-
10,503
25,778
4,004
-
1,075
-
3,086
31
169
-
20,814
28,578
-
96,160
1,773
-
-
256
10,029
-
206,829
150,803
207,211
150,803		 TOTAL
Unrestricted
Restricted
FUNDS
Funds
Funds
2023
£
£
£
382
-
382		 TOTAL
FUNDS
2022
£
38
382
-
382		 38
6,362
889
7,251		 7,686
6,362
889
7,251
112,119
-
112,119
18,597
-
18,597
18,298
-
18,298
36,281
-
36,281
4,004
-
4,004
1,075
-
1,075
3,117
-
3,117
169
-
169
49,392
-
49,392
96,160
-
96,160
1,773
-
1,773
256
15,607
15,863
10,029
-
10,029		 7,686
120,731
(2,541)
12,544
104,550
2,861
1,370
4,233
3,000
34,407
90,089
3,142
9,439
33,438
357,632
16,496
374,128		 424,949
358,014
16,496
374,510		 424,987

27

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023

5 Staff costs

**5 ** Staff costs
2023 2022
£ £
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 2022
Additions in the year
At 31st December 2023
Depreciation
At 31st December 2022
Charge for the year
At 31st December 2023
Net Book Value
At 31st December 2022
At 31st December 2023		 Property &
Fixtures
Furniture &
Fittings
Audio, Visual
& Computers
Total
34,140 5,256 34,558 73,954
52,705
52,705
86,845 5,256 34,558 126,659
3,225 707 6,972 10,904
6,335 888 8,640 15,863
9,560 1,595 15,612 26,767
30,915 4,549 27,586 63,050
77,285 3,661 18,946 99,892

7 Investments

Market value 1 January 2023
Disposals at carrying value
Reclassification
Net gains and revaluation
Market value 31 December 2023		 £
145,464
-
38,428
6,043
189,935

28

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023

8 Analysis of Net assets by fund

Analysis of Net assets by fund
Fixed assets for church use
nvestment fixed assets
Current assets
Current liabilities
Long term liabilities		 Unrestricted Designated
Restricted
Total Funds Total Funds
Funds
Funds
Funds
2023
2022
£
£
£
£
£
-
-
99,892
99,892
63,050
-
-
189,935
189,935
145,464
85,969
228,130
(24,836)
289,263
352,722
(23,612)
-
(23,612)
(33,902)
-
-
-
-
-
62,357
228,130
264,991
555,478
527,334

9 Debtors

Income tax recoverable
Prepayments and accrued income
Creditors: amounts falling due within one year
Accruals for utilities and other costs		 2023
2022
£
£
14,230
11,610
13,011
20,117
27,241
31,727
2023
2022
£
£
23,612
33,902
23,612
33,902

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
£
£
£
£
£
£
13,870
200
(14,928)
5,000
-
4,142
54,613
2,084
-
(18,385)
-
38,312
7,116
43,272
(17,735)
(22,800)
-
9,853
9,000
-
-
1,800
-
10,800
35,719
-
-
(29,320)
-
6,399
14,027
-
(10,875)
5,000
-
8,152
48,082
17,944
(10,460)
10,669
-
66,235
-
55,835
17,750
(645)
94
-
73,034
8,014
99,349
(96,160)
-
-
11,203
246,276
180,599
(150,803)
(47,942)
-
228,130

29

PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023

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
Charity donations
Youth fund
St Marys
Investments
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
£
£
£
£
£
£
(2,092)
50,253
(53,950)
6,000
-
211
27,583
98,111
(88,192)
(10,669)
-
26,833
33,824
63,855
(63,694)
(94)
-
33,891
955
1,842
(1,375)
-
-
1,422
60,270
214,061
(207,211)
(4,763)
-
62,357
306,546
394,660
(358,014)
(52,705)
-
290,487
Church transfers to PCC
3,570
90
-
-
-
3,660
5,705
-
(601)
-
-
5,104
39,736
-
(10,909)
18,385
-
47,212
15,049
-
(4,097)
34,320
-
45,272
-
1,861
(889)
-
-
972
4,165
-
-
-
-
4,165
143,516
-
-
-
6,043
149,559
3,688
-
-
-
-
3,688
5,359
-
-
-
-
5,359
220,788
1,951
(16,496)
52,705
6,043
264,991
527,334
396,611
(374,510)
-
6,043
555,478
Bal b/fwd
Income
Expenditure
Transfers
Gains /
Bal c/fwd
1 Jan 2023
in/(out)
(Losses)
31 Dec 2023
£
£
£
£
£
60,270
214,061
(207,211)
(4,763)
-
62,357
246,276
180,599
(150,803)
(47,942)
-
228,130
220,788
1,951
(16,496)
52,705
6,043
264,991
527,334
396,611
(374,510)
-
6,043
555,478

30