THE CHURCH OF ENGLAND In Chigwell & Chigwell Row Chigwell & Chigwell Row Team Ministry Annual Report and Financial Statements st for the year ended 31 December 2024 Version 1.6 Registered Charity Number 1133035
Chigwell & Chtgwell Row Team Ministry- Annual Report of the Parochial Church Council for the Year Ended 31 December 2024 Contents Page Administrative information Trustees, Report Independent Examiner's Report 21 Statement of Financial Activities 22 Balance Sheet 23 Notes to the Accounts 24 Parish of ChlBwell & Chlgwell Row- Annual Report 2024 Pa8e 2
Chigwell & Chigwell Row Team Ministry- Annual Report of the Parochial Church Council for the Year Ended 31 December 2024 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 ofthe PCC. Ex-officio Members.. Team Rector Team Vicar Associate Priests Rev'd Charlie Kosla Rev'd Paula Preston Rev'd Lorraine Smart Rev'd Ann Kosla Sandie Forshaw Licensed Lay Minister Churchwardens St Mary's Joy Madeiros th Shirley Austridge (resigned 25 May 25) St Winifred's Daniel Forshaw vacancy All Saints, Helen Ellis-Poole Will Worth (resigned 25 May 25) th Deanery Synod Representatives St Marfs St Winifred's All Saints, Sandie Forshaw Ade Adekunjo Paul Preston Richard Kinder and the Rev'd Paula Preston are also members of Diocesan Synod. Parish of Chigwell & Chlgwell Row- Annual Report 2024 Pa8e 3
Elected representatives St Martys Alison Jordan, Richard Coates, Trish Johnson, Richard Kinder Bill Darke, Gill Darke, Kim Osbourne, Janice Randall Cindy Barber, John Barber, Brenda Tarman, Zoe Simms (from th 25 May 25). Phil Cracknell (from St Winifred's All Saints, th 25 May 25) All members of the PCC are Trustees of the Charity. Correspondence Details Bankers Mr John Barber 2 Glebelands Chigwell Essex IG7 40G HSBC 74 High Street Barkingside, Ilford Essex IG6 2DN CCLA Investment Managers Ltd St Alphage House 2 Fore Street London EC2Y 5AQ Independent Examiner Janine Mansfield Rickard Luckin Limited First Floor, County House 100 New London Road Chelmsford Essex CM2 ORG Parssh of Chlgwell & Chigwell Row- Arbnual Report 2024 Page 4
Structure, Governance and Management The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Measurer. The PCC is a registered Charity. 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 trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake for public benefit. 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. Financial management is delegated to the District Church Councils (DCC) of the Churches. 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: select suitable accounting policies and then apply them consistently. observe methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on a going concern basis unless it is inappropriate to assume that the church will continue its activities. 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 Parish of Chl8well & Chl8well Row- Annual Report 2024 Page 5
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 twelve months f rom the date of authorising these f inancial 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. 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. Each church has appointed a Safeguarding Officer who is re-elected annually by the DCC and reports to the PCC. Policies are aligned with those of the national church and displayed in all Church buildings. In line with the policy of the national church all relevant staff and volunteers when required have to complete and maintain a valid DBS certificate. Parish of Chigwell & Chl8well Row- Annual Report 2024 Page 6
All staff are required to maintain a defined level of training based upon their role within the Parish. Training is made available for volunteers both by staff members and national church resources. Will Worth Parish Safeguarding Lead REPORT ON THE PROCEEDINGS OF THE PCC It would be easy to say that PCC meets just half a dozen times a year, but that would be a disservice to the dedication of our members. As well as those serving the wider church on various synods, all members meet as part of their respective District Church Councils (DCCS), as well as playing their part in the various activities that go on in our churches. As our Deanery moved from one episcopal area to another, we were delighted to welcome Bishop Lynne to St Mary's for a confirmation service in March before we left her area. Five people were confirmed (one baptised), and it is a delight to see this evidence of growth in our churches and the fruit of nurture courses such as Moving On. Later in the year, five adults were baptised by immersion too. During the year, we get together with the other two parishes in our benefice. This involves a Lent and an Autumn course, both on Zoom, together with an annual party on 'Twelfth Night, and a barbecue in the Rectory garden in the summer. We also held a Seder meal at Easter, taking the opportunity to share the meaning of Passover and the relevance to our Christian faith. This is something that we plan to repeat. A new course for us was the Pre-marriage Course, to which we invited all the potential wedding couples, and this was well received. We also took the opportunity to 'futureproof our weddings literature, personalised to the churches with their different anomalies and requirements. We will be running this course again in 2025. Our monthly evening service has evolved into Café Church, which circulates around the churches but is held in the more relaxed atmosphere of the halls or rooms, with refreshments. Each time we look into the morning's readings in more depth and discussion. We have continued to engage with our local communities; the Summer Fayre at All Saints, was well received, with enquiries on social media as to when the next one Parish of Chlgwell & Chigwell Row- Annual Report 2024 Page 7
would be. Both St Mary's and St Winifred's held packed quiz evenings in the autumn, and St Winifred's also hosted a Christmas Fair. Together with St Win's, ongoing programme of Days with a Difference, good relationships are continuing to be nurtured with those around us, and we have a stand at the Chigwell May Fayre also. We have had another roofing issue this year, so now we've had one at each church over the past two years. We were blessed that by the careful management of our funds, the monies were in place to rectify this unexpected repair. We haven't forgotten the toilet projects; one of our churches has a most enlightening visit from the Diocesan Advisory Committee, giving us a vision of what could be achieved. th Indeed we were encouraged at St Mary's Nursery's 30 Anniversary to be reminded that the building of the Churchrooms, and thence the Nursery, began with wanting to spend a penny...I Safeguarding Sunday has now become an annual event on our church calendars, with the commissioning of our Safeguarding Officers and the reinforcement of safeguarding being the responsibility of all of us. This year, the benefice held safeguarding training via Zoom for the benefit of those who felt uncomfortable with the national church portal. Our year ended as usual with a marvellous celebration of Christmas. We held carol services with Chigwell School at St Mary's, as well as another one, and All Saints, held the traditional Nine Lessons & Carols. We also visited again the 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 reach out to those around us. Sandie Forshaw Secretary DEANERY SYNOD REPORT Three synods were held during 2024, namely: 7th February, St Mary's Theydon Bois. 13th June, St Michael's Loughton; 16th October, St Laurence Blackmore. Our Parish's representation, other than the ordained clergy, was as follows: Parish of Chigwell & Chlgwell Row- Annual Report 2024 Page 8
St Winifred's Ade Adekunjo-synod Sand ie Forshaw- Synod and Deanery Secretary (on Ray McKerron standing down) Richard Kinder- Deanery Lay Chair and Diocesan Synod Representative St Mary's All Saints, Paul Preston- Synod and Standing Committee Elected Clergy Lorraine Smart- Standing Committee Paula Preston - Diocesan Synod representative Synod 7th Februaryp St Mary's Theydon Bois This was Rev'd John Fry's first synod as Area Dean, Both he and the Lay Chair gave their accounts of their journey to faith. Copies of the Roles and Responsibilities of Synod Members were distributed, and the following points highlighted: Synod members should represent the best interests of their Parishes by all available means A primary purpose of the Deanery is to support and enable work in parishes, but not to direct it Deanery Synod is a place to celebrate the best, to learn from the worst, to share best practice together Synod members should be outwardlyfocussed and be responding to the concerns of each of our Churches. Seven values of Travelling Well Together were then discussed in small groups. Synod 13th June 2024, St Michael's Loughton Sandie Forshaw kindly agreed to stand as Deanery Secretary. The Ven Jonathan Croucher (Archdeacon of Chelmsford) and Rt Rev'd Adam Atkinson {Bishop of Bradwell) introduced themselves. They shared their journeys to and with Christ, making themselves available to all, and wishing us all to 'drink deeply, live abundantl l Ray McKerron stood down as Deanery Secretary owing to health issues and Sandie Forshaw, Deanery Synod rep for St Mary's Chigwell, kindly agreed to Stand as Secretary after being proposed and the motion carried unanimously. 2 At the end of 2023, our Deanery moved to the Archdeaconry of Chelmsford in the Bradwell Episcopal Area following a reorganisation that split us from the Harlow Archdeaconry and the Barking Episcopal Area. 3 A motto taken from the Retreat House at Pleshey. Parish of Chigwell & Chigwell Row- Annual Report 2024 Page 9
The Diocesan Environmental Officer, Rev'd Sandra Eldridge, gave a presentation entitled 'Another year for being green. Salient points shared: 'Caring for the environmenv on the Diocesan The Facebook Group- Greening the Church General Synod approved a route map to net zero by 2030-"A Practical Path to Net Zero" Details of Ecochurch were given A grant of £3,000 is available + Adam closed the meeting in prayer. Synod 16th October, St Laurence Blackmore The Dean opened the meeting and Rewd Sam Brazier-Gibbs led the opening worship. Matters arising from the previous synod's meeting were the results of the Diocesan Synod elections: House of Laity- Richard Kinder, Tim Valder-Hogg and Diana Lowry House of Clergy- Rerfds John Fry, Sam Brazier-Gibbs and Paula Preston. Canon Michaela Southworth, the Diocesan CEO, gave a presentation on Parish Share. (PCC and DCC Treasurers had been invited as guests to this synod.) Rev'd John Fry was appointed as Team Rector of the Epping Team Ministry, Vacancies therefore exist for a Team Rector and an Associate Priest in the Theydon parishes. Rev'd Neil Taylor kindly agreed to accept the post as Deanery Treasurer and was duly elected. Janet Whitehouse advised of a new campaign by the Mothers, Union regarding gender violence and empowering women called 'Empower Her,. All asked to promote this. The Dean closed the meeting in prayer. Richard Kinder St Mary's Parlsh of Chi8well & Chlgwell Row- Annual Report 2024 Page 10
TEAM REcfoR'S REPORT Do not remember theformer things or consider the things of old. l am about to do a new thing,. now it springsforth, do you not perceive it? Isaiah 43:18,19 There is an old song by Essex musician and broadcaster John Pantry called Simple Sailing, which is about trusting God and not striving with being church. Lyrics include let us lay aside all our striving, for our righteousness is in him, see the Spirit move the water, let Him take you where He wants to. One of the biggest challenges we will always face as church is the temptation to make it all happen ourselves. We plan and trust our resources, working out budgets and if we have enough time and people to do new things or keeping the show on the road. How much more do we need to catch the wind of the Holy Spirit and trust God with our futureP We do not keep God's church going, all we are meant to do to is the works of Jesus guided by his Spirit. If you look at the Mill Grove Community's website www.millgrove.org.uk, you will not see a giving page. Since 1899 they have not asked or fund raised, people and churches just give without being asked. So where is the Spirit leading us, what next God? Where is the wind of the Spirit taking us? Can we trust God and place into His hands all that we are as local churches? As I write this report in April 2025, Christian commentors are telling of a quiet revival amongst the young in this nation, a spiritual awakening especially amongst'Gen-Z.' Bible sales to the young have increased dramatically as interest increases, We should always be looking to connect with the spiritual mood of our communities with a Gospe5 that is understandable and relevant. Chigwell and Chigwell Row Parish Sometimes I get into conversations with clergy colleagues comparing our ministry teams and how we get on together. These can get embarrassing as l admit to others what a great bunch I work withl Being church can be like sailing and steering in choppy waters, trying to discern the right direction or decision, so it has been blessing to work with such a good and supportive team and my thanks to them. Parlsh of Chlgwell & Chlgwell Row- knrtual Report 2024 Page 11
Some highlights from 2024 l am sure Sandie will pick up on many more events and happenings from last year for which l am very grateful, but here are a few I would like to highlight and note my deep appreciation. The Twelfth Night benef ice party has become a regular cross-benefice occasion, bringing people from the five churches together. My thanks to Rev'd Roger Gayler for leading this. We also had a group join us from Barkingside who happened to see us on the website and just turned up. It has been good to support Stephen Potts and his team made up of people from our churches, as they present church at Sherrell House care home. This is so well produced and connects with many of the residents. Sherrell House Church is a great example of God closing one door of ministry but opening another, which took place after their work at Alder House ceased following its closure. A small team were also able to put on services at Jubilee Lodge respite care home for just a few months. These were loved by the residents and staff, but sadly the place was closed down just before Christmas. So a door was closed, and we wait for another to open in that area. However a new door opened at Lambwood Heights giving Rev'd Paula and team a great opportunity to minister there regularly, and also Rev'd Lorraine and team ministering at Belmont Lodge. We are also regulars at the Chigwell May Fayre, a great opportunity to show who we are and what we are about. Many people stopped to chat, take freebies or watch Paula share the Gospel on her sketch board. My thanks to the early team who came and put it all together. A confirmation service took place at St Mary's, and it was great to see five f rom our churches confirmed by Bishop Lynne Cullens, supported by family and friends. The All Saints, Summer Fayre was a brilliant success with such a variety of things to do and see, and many people coming during the day. A great work from the All Saints, team! The Seder (Passover) Meal on Maundy Thursday 2024 was the first time this had been tried in Chigwell and Chigwell Row for several years. A dedicated team worked hard, and we had a full hall in All Saints, House. It was also wonderful to hear appreciation from members of the Jewish community who also came along. Parlsh of Chi8well & Chi8well Row- Annual Report 2024 Page 12
The Light Party in St Mary's Churchrooms is now an annual event for young children, offering a Christian based time of fun on Hallowe'en evening. We had a good number with parents come along, my thanks to the Light Party team. St Mary's once again joined Chigwell School for two carol services which again filled the church. This is now an annual event, helping to bring St Martys and the school closer in mutual support and offering service to the local community. Carol singing took place at two local pubs, the Two Brewers in particular was pleasantly squashed with people hearing the carols. St Win's Day with a Difference continues to make a difference at holiday times to young and old, mainly from the Limes Farm Estate. It's a great relaxed chill out space and offers to help are always welcome. Home groups and social gatherings play a pivotal role in helping people grow in faith. Thank you to all the leaders and hosts whom I know put in a lot of work. Please talk to me if you are interested in trying out a homegroup, there is no obligation to keep going along but you may like it! Thank you To conclude, I want to express my heartfelt thanks to the wider team we have in Chigwell and Chigwell Row. Too many names to mention, people who serve the church and God's mission in a huge variety of jobs and responsibilities, such as administration, finance, looking after buildings, working with all ages, leading groups and services, sharing the Good News of Jesus Christ. Thank you all so muchl Challenges There are challenges ahead not just for us but for the Church of England whose leadership must remain in our prayers. As you know l am uncomfortable with the direction the Cof E is travelling with regard to the official blessing of same sex relationships. This is personally very challenging as l always want our churches to be inclusive and open to all people without exception. I will continue to think and pray about this and will produce a paper for the PCCS with my reasons for not allowing these services to take place. Challenges will always be with us because we are on God's side constantly battling against the world, flesh and devil. But God is with us. Whatever we face in the Parish ofChTrgwell & Ch48well Row- Annual Report 2024 Page 13
future, both joys and 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 statement, as presented. The statement is on an accruals basis in a format to comply with Charities Statement of Recommended Practice FRS102. It consists of a Statement of Financlal 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 youthwork. The accounts have been independently examined and a report from the examiner is included. The Statement of Financial Activities indicates that total income of £393k was just under £3k less than in 2023. However, total expenditure of £435k was also more than in 2023 by nearly £60k, giving an in-year deficit of £42k' thi5 combined with losses on investments of £2k meant total funds carried forward decreased by £44k from the previous year. Par15h ofChlEwell & Chlgwell Row- Annual Report 2024 Page 14
Income from planned giving, collections and Gift Aid was comparable to the previous year with an overall decrease in the Donations and Legacies total of £IOk. Likewise, income from Charitable Activities was £18.7k more than in 2023. Nursery income increased by £4k and expenditure by £8.6k compared to 2023. The expenditure in 2024 exceeded income by £985 resulting in minimal change to the reserves. The figure for charitable and missionary giving was £257 more than in 2023 but was the same proportion, 6.80A of income from direct giving as in the previous year. Total expenditure was £97k more than in the previous year, due principally to the cost of major building works and increases in administrative and office costs. 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 well- placed 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, seeks 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 of the Charity at its balance sheet date were £511k (2023 £555k). Of this total, £258k is held in restricted funds (including endowments) leaving £253k in unrestricted funds (Including designated). General unrestricted funds being the free reserves. Within unrestricted funds, £195k is designated and £58k (2023 £62k) is general unrestricted funds. Parish of Chigwell & Chi8well Row- Annual Report 2024 Page 15
The restricted fund includes £61k as a provision for remaining depreciation of fixed assets over their estimated useful life to prevent the need to charge this sum to the unrestricted fund each year. The total cash balance at the year end is £307k. Some of the restricted and designated funds are covered by investments of fixed assets, a remaining balance of £275k is covered by cash, leaving cash reserves of £32k to cover unrestricted reserve. John Barber Treasurer PARISH RESERVES POLICY The Church is a faith community that relies principally on funding from its members through direct and prayerful giving. Each Church maintains responsibility for its own funds which requires it to raise sufficient income to meet its running costs and additional sums for maintenance and development. It is the PCC'S policy for each DCC to maintain, where possible, a balance of available general unrestricted funds in cash and bank accounts, equivalent to three months, {25Yo) of annual unrestricted and undesignated payments in order to cover emergency situations which may arise from time to time. This has not been achieved at 31 December 2024. 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. It is hoped that the Churches can make a transfer from unrestricted to designated funds each year to cover ongoing repairs, although this is not always possible. The Parish Share accounts for 22.3Yo of total expenditure and each Church pays directly to the Diocese an agreed part of the share required from the Benefice. In addition, a monthly contribution is made to the central PCC fund which is used to cover Ministry Team and administrative expenses, parish outreach initiatives and central expenses such as the cost of an Independent Examination. The policy is to retain a balance in this central PCC fund approximately equal to around two months, running costs. This also allows for a contingency for one-off payments should the need arise. An annual budget is prepared and agreed by PCC members each November to set contributions from the three Churches for the year ahead. Payments outside of the budget are always approved by the PCC members. Excess balances are returned to the contributing Churches at the end of each year. Parish of Chl8well & Chi8well Row-Annual Report 2024 Page 16
St Mary's Nursery is responsible for its own income and expenditure and reserves. Government funding of early years childcare does control what the Nursery can charge. Surpluses cannot be used for general Church purposes. The Reserves of the Nursery currently only cover six weeks of fixed costs. The Nursery Management Committee are aware of this and would like to increase reserves to at least three months, costs. Should one of the Churches be faced with an unforeseen issue adversely affecting its f inances, the Trustees could consider reducing its contribution to the Diocese by way of Parish Share. However, this would be seen as an act of last resort, given the effect it would have on the Diocesan funds and its ability to maintain the number of stipendiary posts. Designatedfunds All Saints, maintains separate designated funds for the upkeep of its Church rooms and has liability for the upkeep of two residential flats, resulting in a higher contingent reserve being 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. 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 2024, total designated funds were £195k (£227k in 2023). Restrictedfunds The Churches which comprise the PCC hold several restricted funds, totalling £258k at 31 December 2024 (£290k in 2023). A description of each fund together with the specified use of the fund is set out in note 11. The Trustees consider that all the operations are continuing and are viable, given the current rate of income and expenditure. Parish of Chigwell & Chigwell Row- Annual Report 2024 Page 17
Risk Management statement The PCC is responsible for the identification, mitigation and management of risk. To achieve this, a register of all identified risks is required, together with a management and mitigation strategy. This should be subject to review by the PCC on an annual basis, with the responsibility for delivery of the mitigation strategies that it identifies being delegated to the Churchwardens and reported to the PCC. Risks There are 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, moving away from the Church or passing away. 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 are able to report significant variations to the DCCS, affecting decisions taken over discretionary spend. However, like most Churches, many of the most generous givers are elderly and their ability to maintain their current giving may not last. The Churches have received two significant legacies in recent years a nd the Trustees should regard this as an opportunity to promote the concept of leaving a gift in a will. 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 wider environment. Each church has appointed a Safeguarding Officer who is re-elected at the Annual District Church Meeting {ADCM) and ratif led by the PCC. Safeguarding within the Church of England is a high-profile issue and a new safeguarding dashboard is being introduced in 2025 to provide more detailed guidelines and ensure compliance. Officers and members are only appointed formally to roles Parish of Chlgwell & Chlgwell Row-Annual Report 2024 Pa8e 18
once they have been 'safely recruited, and completed the level of safeguard ing training commensurate with the role. Catastrophic Building Failure or Major Repairs The Churches each hold insurance for all major risks to which the church is exposed, including incidents resulting in damage to any buildings on site, 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 f ive years. Each Church maintains a thorough maintenance and renewal programme based on the previous Quinquennial Report, as far as this is financially possible, with major issues and regular preventative maintenance and servicing prioritised, Should a building become unusable for any reason, the PCC have contingency plans that would enable regular worship in Church halls, and funerals or weddings to be held in other Churches within the Parish. Uncertainties In addition to the risks identified above, in light of the Coronavirus Pandemic, the PCC acknowledges continuing uncertainties in relation to the church's operations in 2025. These include whether the number of church members and visitors will be sustained and increase. As a result of the Pandemic, the Churches now have ways to service those who cannot attend Church services and prefer to worship online and attendances are increasing in both special and weekly services. Midweek Morning prayer is generally on Facebook, allowing those who are housebound to attend. The PCC and DCCS are continually looking at new ways of embedding lessons learned during Covid into the way it operates and for attracting donations, and all have contactless card readers available. Most regular members give by standing order which further protects income streams should it not be possible to meet face to face for a period. The introduction of wifi in Churches will permit the development of live streaming of worship, including "life event" services in the future. Parlsh of Chigwell & Chigwell Row- Annual Report 2024 Page 19
The PCC Secretary ensures compliance with GDPR regulations and the Parish's own GDPR policy, and promotes good data security to limit the potential for cybersecurity "hacking" and to ensure back-ups of key data are available in the event of a catastrophic event. Only key individuals hold sensitive data on personal computers and on a "need to have" basis. All Church computers are protected by up-to-date antivirus software and members are instructed not to open suspect emails or anything that may compromise their data. 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. The issuing of cheques is now rare and only negligible expenses are paid in cash. Church members are aware of the current worldwide political, economic and security state of the world and have had policies and procedures in place should it be necessary to evacuate or lock down a Church during an activity. These policies should be reviewed and tested regularly. Reputational This is where the Church loses members and fails to gain new membership by the actions it takes or does not take as appropriate. This could include, but is not limited to, inappropriate religious teaching, inappropriate social media activity, 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 buildings and grounds safe and clean for all users and acting promptly and appropriately towards concerns raised. The Churchwardens keep a listening watch for any signs of tension or unease within the Church family and attempt to resolve situations. Future plans The Churches, primary future plan is to continue to provide ministry to those who wish and services of worship to those who wish to join with others in collective worship. The Churches also plan to develop more courses for those who wish to develop their faith and groups to encourage Christians to meet together to d iscuss theological issues. Pa¥ish of Chigwell & Chigwell Row- Annual Report 2024 Page 20
The Nursery strives to grow and ensure that they attract new children to keep its numbers at or close to the maximum permitted to maximise revenues. The financial plans are: to ensure that the Churches are maintalned In a safe state and that all legal and compliance costs are met. To pay the Parish share allocation in full. To donate to Missions and Charities and fund opportunlties to bring more people to faith To develop the Church buildings as money permits to make them more versatile. user friendly, disability compliant and generally used more. The issue is that Church exists not Just on Sunday. John Barber Treasurer Date 2£.1 66lLeTr2029 Par15h of ChlKwell & Chlgwell Row- Annual Report 2024 Page 21
Independent Examiner's Report to the Trustees / Members of the Parochial Church Council of the Ecclesiastical Parish of Chigwell & Chigwell Row I report to the trustees on my examination of the financial statements of the Parochial Church Council of the Ecclesiastical Parish of Chigwell & Chigwell Row ('the charity,) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 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. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit go beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present a 'true and fair, view and my report is limited to those specific matters set out in the independent examiner's statement. Independent examiner's statement Since the trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011.1 confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I conf irm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or P&Tish of Chlgwell & Chigwell Row- Annu31 Report 2024 Page 22
the financial statements 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 financial statements to be reached. Janine Mansfield FCA Rickard Luckin Limited First Floor, County House 100 New London Road Chelmsford CM2 ORG Date: £Trl,.ItS Parish of ChiBwell & Chigwell Row- Annual Report 2024 Page 23
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Flnanclal Actlvllles Forthe perlodfrom OlJanuary20241031 December2024 Unrestrlcted Designaled Reslrl¢ted funds funds funds Endowmenl Total fund5 funds Income and endowments from: see note 3 Donatlons and legacles Income from charltable actlvltles 156,371 67,205 loo 500 156,971 125.096 105,426 57.891 Other tradlng actlvltles Investments 1,033 104.393 3,324 2,236 105 5,663 Total Income 227,933 60,225 104,893 105 393,156 Expendlture on:_ see note4 Ralslng funds Expendlture on charltable actlvltles Total expendlture Net Income l{expendlturel resources before transfer 493 246,914 70.632 116,823 434,369 247,407 70.632 116,823 434,882 (19,4741 (10,407) {11,9301 105 141,7061 Transfers: Gross transfers between funds- In 44,460 (29,7601 44,460 144,460) Gross transfers between funds- out (22,7261 8,026 Other iecognlsed galns I losses Galnsllosses on Investment assets (2,4431 12,4431 Net movemenl In funds (4.7741 (33,1331 (3,904} (2,3381 144,149} Reconclllatlon of funds Totalfunds broughtforward Total funds carrled forward 62,357 228,130 111,772 153,219 555,478 57,583 194.997 107,868 150,881 511,329 Parlsh of Chigwell & Chigwell Row- Annual Report 2024 Pa8e 24
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Stalement of Flnanclal Acllvltles Forthe perfod from OlJanuary2023to 31 De¢ember2023 Unrestrlcted Designated funds funds Restrlcted Endowment Total funds funds Funds Income and endowments from: see note 3 Donatlon5 and legacles Income from charltable activltles 140.661 61,685 5,040 24,894 54,272 99,349 1,861 167,416 115,957 104,389 Other tradlng actlvltles Investments 6,675 2,084 90 8,849 Tolal Income 214,061 180,599 1,861 90 396,611 Expendlture on: _ see note 4 Ralslng funds Expendllure on chailtable actlvltles 382 382 206,829 150.803- 16,496 374,128 Total expendlture Net Income l (expendlturel resources belore transfer 207211 150.803 116,496) 374,510 16,850) 29.796 (14,635) 90 22,101 Transfers: Gross transfers between funds- In 4,763- 47.942- 52,705 152,7051 Gross transfers between funds- out 52,705 Other recognlsed galns I losses Galnsllosses on Investment assets 6,043 6,043 .Net movement In funds 2.087 (18,146) 38.070 6,133 28,144 Reconclllatlon of funds Totalfunds broughtforward Total funds carrled forward 60,270 246,276 73,702 147,086 527,334 62,357 228,130 111,772 153,219 555,478 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. Parish of Chl8well & Chigwell Row- Annual Report 2024 Page 25
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW BALANCE SHEEf AT 31 DECEMBER 2024 Restated Asat Asat Note 3111212024 3111212023 Flxed assets TangibleAssets Investments 90,967 100,329 99.892 102,668 202,580 Currenl ass•t$ Debtors 28,690 307,032 27,241 349,289 CashAtBankand In Hand 334722 3Th530 Uabllltles Credltors: Arnounts Failing Due In One Year io 15,689 23.812 1&689 23,812 Net current assels less currenl Ilabllllles 352,918 555,478 Total net assets lois Ilabllllles 511,329 R•pi88ent•d by Unrestrlcted 67,583 194,997 107,868 150,881 62,357 228.130 111,772 153,219 Designated Restrlcted Endowment Fund Tolalg 611.329 55S,478 Approved and signed on Behalf of the Church council by Rev'd Charlie Kosla Chair Date Parlsh ol Chlwell & Chlgwell Row- Report 2024 Pale 26
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Basis of preparation 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 st UK and Republic of Ireland (FRS 102) issued on l January 2019 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following'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) (Second Edition)'rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. 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. Parish of Chigwell & Chlgwell Row- Annual Report 2024 Page 27
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 {cont.) Changes in basis of accounting There have been no changes to the basis of accounting Changes to previous accounts There have been no changes to the previous accounts. However during 2024 the Parish moved to a common accounting software system in the cloud to facilitate earlier consolidation of data. There are certain small differences between the closing 2023 and opening 2024 figures following the import of the five separate systems. Accounting policies 2.1 Funds accounting Funds held by the PCC are: Unrestricted funds- general funds which can be used for PCC ordinary purposes. Designated funds - monies set aside by the PCC out of unrestricted funds for specif ic future maintenance purposes or projects. Restricted funds - income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest; donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund. They also include income for youthwork. b) 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 Parish of Chlgwell & Chigwell Row- Annu31 Report 2024 Page 28
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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 rèceived. 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, Grants and donations Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the PCC. Parish of Chigwell & Chigwell Aow- Annual Report 2024 Page 29
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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 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. 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 I nvestments are stated at market value at the balance sheet date. Parish of Chigwell & Chigwell Row- Annual Report 2024 Page 30
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 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 the PCC believes may prove uncollectible. Short-term deposits include cash held on deposit either with the CBF Church of England Funds, or at the bank. 2.6 Current Liabilities Current liabilities represent invoices outstanding at the year end for utilities and other costs, relating to 2024 but which were not paid until 2025. Parlsh of Chigwell & Chl8well Row- Annual Report 2024 Page 31
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIALSTATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Unrestrlcted Designated Restrlcled Total Total 3. Income and endowments 3.1 Donatlons and Lega¢les Planned Élvlng Servlce Collectlons 91,567 91,567 12,542 93,650 12,250 12.542 Glft Days Sundry donatlons Income tax recoverable 11,576 25,015 11,576 25,015 26,497 23,993 5,000 6,026 Grants loo 500 600 Legacles Total donallons & legacles 15,671 15,671 156,371 loo 500 158,971 167,416 3.2 Charltable Actlvltles Bookstall Church & Hall lettlng Fees from Ilfe events 46,798 10,303 46,891 93,689 10,303 81,423 13,176 488 Pailsh Magazlne Telecom Mast fees 9.213 50 11,000 20,213 50 19,584 1,286 Other Income Total charltable actlvltles 67.205 57,891 125,096 115,957 3.3 Otherlradlng actlvltles Fetes and fundralslng Incomefrom Nurseiyschool Other Income 1,033 620 1,653 103,773 1,138 99,349 3,902 103,773 1,033 104,393 105,426 104,389 3.4 Investments Dlvldends and Interest 3,324 2,234 105 5,663 8,849 Total Income & endowments 227,933 60.225 104,998 393,156 396,611 Parish of Chi8well & Chigwell Row- Annual Report 2024 Page 32
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 reslrlcted Designated Restrlcted Total Total 4 Expendlture 4.1 Fundraislng Costs 493 493 382 4.2 Charltable Actlvllles Mlsslon & Chailtable givlng Diocesan Parlsh Conlrlbutlon Other Clergy & Mlnlstry costs 7,508 7,508 7,251 105,099 105,099 112,119 26,444 26,444 18,597 Church runnlng costs Repalrs and malntenance 24,467 24.467 18,298 43,718 6,278 49,996 36,281 Upkeep of servlces 6,508 6.508 4,004 Upkeep ofchurchyard 1,990 2,940 4,930 1,075 Chlldren's Mlnlstry 333 333 169 Hall runnlng costs 15,337 60.371 75.708 49,392 Nursery costs 97,595 97,595 96,160 Llfe event fees 1,773 Depreclatlon 2.976 938 17,957 21,871 15,863 Admlnlstratlon costs 11,865 105 11,970 10,029 Other Costs Total Charltable actlvltles 1,002 938 1,940 3,117 246.914 70.632 116,823 434,369 374,128 Total expendlture 247.407 70,632 116,823 434,862 374,510 Administration costs include the costs of independent examination was £3,700 (2023 £2,825). Parish of Chlgwell & Chi8well Row- Annual Report 2024 Page 33
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Staff Costs 2024 2023 Wages and Salaries Salary Social security costs Pension costs 86,960 78,520 Total 86,960 78,520 No staff receive a total benef it of more than £60,000. During the year, St Mary's Nursery employed staff in accordance with the number of children attending. The Nursery is registered with HMRC and deals with its own tax and National Insurance affairs. It is classified as a small business for National Insurance purposes and therefore receives discount to cover its employers National Insurance charges. No member of staff receives a pension benefit. The Clergy team are employed by Chelmsford Diocese. They do claim travel and other Ministry costs from the PCC. In 2024 these amounted to £1,371. All Saints, uses the services of a part time administrator, mainly to deal with hall bookings. All Churches employ Hall cleaners. However these are all self- employed and are responsible for their own tax affairs and are paid on the production of an invoice. Donations from Trustees The Trustees are all regular worshipers within the Parish and as such make regular gifts towards the running of the Church. In 2024 these amounted to £38,380. Parish of Chigwell & Chigwell Row- Annual Report 2024 Page 34
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIALSTATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Payments to PCC members The Secretary of the Parish is a self-employed PA but is contracted to supply administrative support to the Rector and the Churches as required. She is, by nature of her role, a member of the PCC and Trustee of the Charity. She is also a Licensed Lay Minister (LLM) to the Parish. She is not paid for the hours of attending PCC meetings or events or her duties as an LLM but is reimbursed her expenses. Total paid in the year was £17,483. (2023 £11,282). She also claimed travel expenses between her home and the Churches she was working at and other expenses of £1,842 (2023 £999). Other PCC members receive reimbursement of purchases incu rred for the Church such as maintenance materials and consumable supplies. No one else claims mileage or personal costs relating to Church business (2023 nil) but no other PCC member receives any remuneration for being a PCC member. The Deputy Manager of St Mary's Nursery is the daughter-in-law of the Churchwarden of St Mary's for which she receives a salary. Mrs Austridge Snr provides support to the Nursery but receives no payment for this. The Rector is a Member of the Nursery Management Committee. This is part of his role as Rector and he receives no remuneration from the Nursery. The All Saints, Administrator is the wife of Mr Worth, a Churchwarden and Safeguarding Officer of All Saints,. Parish of Chigwell & Chl8well Row- Annual Report 2024 Page 35
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible Fixed Assets The Church buildings are owned by Chelmsford Diocese and therefore not carried at value within the Church accounts. Property & Flxlures Furnlture & Flttlngs Audlovlsualand ICT Total Cosl At I"January2024 86,845 ,: 5.256 34,558 126,659 Addltlons In year 2,720 4,356 5,871 12,947 At 3151 December 2024 89,565 9,612 40,429 139,606 Depreclallon At 1° January2024 9,560 1.595 15,612 26,767 Addltlons In year 11,404 1,143 9,324 21,871 At 31" December 2024 20,965 2,738 24,936 48,638 Nel bookvalue I" January2024 77,285 i 3,661 18,946 99,892 31Jt December 2024 68,600 6,874 15,493 90,967 Investments Restated st Market value l January 2024 Net gain and revaluation 102,668 (2,443) 5t Market Value as at 31 December 2024 100,329 Some investments held with CCLA have been reclassif led as Cash at bank as these receive interest rather than dividends and are not subject to market fluctuations. Parish of Chlgwell & Chigwell Row- Annual Report 2024 Page 36
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of net assets by fund Unrestrlcted Designated Restrlcted & Endowmenl Total 2024 Total 2023 Flxed Assels 30,210 60,757 90,967 99,892 Investments 100,329 100,329 102,668 Current Assets 73.272 164.787 97.663 335.722 376,530 Current Ilabllltles (15,6891 (15,6891 {23,6121 Total 57,583 194,997 258,749 511,329 555,478 Debtors receivable within one year 2024 2023 Income tax recoverable Prepayments and accrued income 15,321 13,369 14,230 13,011 Total 10 Creditors and amounts payable within one year Accruals for utilities and other costs Parish of Chlgwell & Chigwell Row- Annual Report 2024 Pa8e 37
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Statement of Funds Brought Forward Incornlng resources Resources Expended Transfers Inl(out) Galnsl Ilossesl Carrled Forward Designated All Salnts, FabTlc related 4,142 loo 14,053) 8,500 8,689 Lee legacy 38,312 40,256 Hall fund 9,853 47.181 (24,0031 124,0001 9,031 Hall flre alarm 10.800 1.800 12,600 Hall projects 6,399 14271 200 6,172 Hall Fabrlc fund 8,152 (5,7601 6,000 8,392 Sl Mary'$ Fabrlc fund 66,235 66,235 St Wlnlfred's Fabrlc fund 73,034 11,000 (36.389) (4,0231 43,622 Sl Mary's Nursery 11,203 111,203) Total 228,130 60,225 170,6321 122,726) 194,997 All Saints, maintains a Fabric fund for Church repairs. They also have responsibility to upkeep the hall which is a Victorian vicarage which has been extended and includes two flats let for residential purposes on a commercial basis. They maintain a fund to cover running costs of their hall, a Fabric fund for regular cyclical maintenance, a fund to which they have been contributing each year to replace the Hall Fire alarm and a fund to cover Hall improvements. St Mary's and St Winifred's maintain Fabric funds to upkeep their Churches. Parlsh of Chigwell & Chigwell Row- Annual Report 2024 Pa8e 38
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 DECEMBER 2024 St Mary's Nursery operates its own account and its accumulated reserve is shown here. General Funds Brought Forward 211 Incomlng resources 50,017 Resources Expended 148.748) Transfers Inlloutl (1,260) Galnsl Ilossesl Carrled Forward 220 Al( Salnts, St Mary's 26,833 113,702 (118,199) (5,040) 17,296 St WlnSfred's 33,891 63.340 148,961} (8.760) 39,510 PCC Central 1,422 874 131,499} 29,760 557 Total 62,357 227,933 247,407 14,700 57,583 Total Unrestrlcted & designated lunds 290,487 288,158 (318,039} (8,026) 252,580 These funds are available for general Church use. Restricted and Endowment Funds Brought Forward Income Expendlture Transfers Galnsl Losses Carrled Forward All Salnt$' Investments- Endowment 3,660 105 Fabrlc Flxed Assets reserve 5,104 (560) 4,544 Lee asset reserve 47,212 {11,829) 35,383 Hall project asset reserve 45,272 15,527) 39,745 Charliy donatlons 22 22 Tarman fund 950 19131 37 Youth fund 4,165 4,165 St Mary'5 Investments- Endowment 149.559 {2,4431 147,116 Parlsh of Chigwell & Chigwell Row- Annual Report 2024 Page 39
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Brought Fonvaid Income Expendlture Transfers Galnsl Losses Carrled Forward St Wlnlfred's Fabrlc 3,688 4.003 7,671 Youth 5,359 5,359 PCC CentralGrant 500 142 St Mary's Nursery 104,393 197,6361 4,023 10,760 Total restrlcted funds 264,991 104,998 (118,8231 8,026 (2,443) 258,749 St Mary's and All Saints, have historic investment funds which can only be used for very specif ic Church purposes. All Saints, maintains a significant amount of Fixed assets which are capitalised and depreciated. To avoid the need to budget for depreciation in future years, a fund was set up by way of transfer f rom the fund covering the asset to cover future years depreciation. All Saints, was also given money in memory of a recently deceased member and also for other Charities. The balance shown is the amount unspent at the year end. All Saints, and St Winifred's each received a grant several years back which was only to be used for youth development. This has yet to be fully used. St Winif red's received a restricted donation within the last few years, specif ically for fabric upgrade. The PCC received a grant in the year to support the Licensed Lay Minister to develop her training. Not all the costs have yet been incurred. St Marys's Nursery funds can only be used for the work of the Nursery. They are shown as restricted funds, having previously been reported as designated. Financial Management of each Church is delegated to the District Church Councils. At the end of each year, they may decide to make transfer between funds. In particular the All Saints, Hall account generally makes a healthy surplus, some is used to support the Church, other money is transferred to cover future repairs. Parlsh of Chigwell & Chigwell Row- Annual Report 2024 Page 40
PAROCHIAL CHURCH COUNCIL OF CHIGWELL & CHIGWELL ROW NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Summary of Funds Brought Forward lJan24 62.357 Incomlng-r Resources resources Expended Transfers Galnsl Inl(out) | (losses} 14,700 Carrled Foard 31 Dec 24 57,583 Unreslrlcted 227,933 {247,407) Designated 228,130 60,225 170,632) {22,726} 194,997 Restrlcted & Endowment 264,991 104,998 1116,8231 8,026 12,4431 258,749 Total 555,478 393.156 (434,862) 12,443) 511.329 12. Related party transactions. During the year, the Trustees donated £38,380 to the Parish by way of their giving. Mrs Sandie Forshaw is a self-employed secretary providing services under the trading name of Fair Havens. During the year she received £17,483 (2023: £11,282) for services provided and £1,843 in relation to expenses. (2023 £999) No other Trustee received any direct fee or expenses. Par15h of Chigwell & Chi8well Row- Annual Report 2024 Page 41