Christ Church, Warley, Brentwood Annual Report and Financial Statements Year ending 31st December 2023 Incumbent Vacant Bankers Nat West 46, High Street, Brentwood. CM144AL Independent Examiner Neville Reid ACA 19, Mills Grove, Poplar London E14 ORH Page J
Christ Church, Warley, Brentwood Trustees Annual Report for the year ending 31st December 2023 PCC Foreword Adminlstrative Information Christ Church is Sltuated at Warley Hill, Warley. Brentwood, F.ssex, CMI 3 3AA. This also the addresb for correspondence. It is part of the Diocese of Chelmsford within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956 and Chwch R¢presenlation Rules 2006) and a charity regÉstered wtth the Charity Commission (CC registration nwnber 1138758). Aims and purposes Christ Church Parochial Church Council has the responsibility of c4)oWing with the incumbent in promoting in the eeclesiastical parÉsh the whole mission of the church. pastoral, evangeltstic. social and ecumenical. The PCC is aIso specifically reSnSIble for the maintenance of the church complex at Christ Church, Warley. Structure? governance and management The method of appoinlment of PCC rnembers is set out in the Church Represeniation Rules. At Clwist Church the membership of the PCC consists of the IncumbenL the Church Wardens, members elected by those members of the congregation who arc on the clectorat roll ofthe Church. and any member(s) CO¥OPted for specialist skills which ar¢ needed at the time. The PCC members are r¢spon5ible for making decisions on all matters of general concern and imWTtance to the parish inLluding decisions on bow the tunds of the PCC are to be spent. New mcmbas receive initial tratning into the workings of the PCC. The PCC meets 6 times during the year. Given its wid¢ reswnsibilities work is delegated to the Leadership Team and groups responsible for buildings 2nd ministry. There is also a Safeguarding Officer and a Treasur¢r. All these groups are responsible to the PCC and rewrt back to it regularly. PCC Membership 2023 PCC Members who have served anytime from the APCM on 23rd April 2023 to the dats this report is approved are shown below. Ex Officio Members lllcumbent and Chair of PCC.. Revcrend Stuart Hull to 30 April 2023 Church Wardens: Olive Law, also Chair of PCC from I" May 2023 Sylvia Partridge, also PCC Secretary Elected Memkrs: Hedther Bradshaw Brendon Hotrocks Hany Stimpson Richard Watts Elaine La Rasle Amy Horrocks David Fisher John Kettlewell. "freasurer Mark Towttsend Liz Edwin Tim Wood Page 2
Objeetive5 and Aetivities The PCC is committed to enabling as many people as possible to worship at ow church and to become part of our parish community at Christ Church. Thc PCC maintains an overview of worship throughout the parish and makes sug&yestions on how our rVIceS can involve the many groups which live within our parish. Our s¢rvices and worship put faith into prdctice ihrough prayer 2nd gcripture. musie and sacrament. When planning our activilies for the year we havc con.sidered the Charity Commission's guidance on public bcnefii and in particular ihe supplcmcntary guidancc on Ch(111¢5 for the advancement of ffligion. We try to enablc ordinary peoplc lo lfftv¢ out their faith as part of our parish community by l. Worship. bible study and prayer. learning aboul the gospel and developing their knowledge and trust in Jesus as E,ord and Saviour 2. Provision ol, pastoral carc to people living in the parish 3. Missionary and outreach work. To facilitate this work it Is importsni that we maintain the fabric of Christ Church. This report foLuscs on rinanLe and giovernancc maitcrs. A separate report on the many activities of the Church shows how the PCC achieved ihL' above objeciivcs in 2023. Financial review fyeneral Fund The mdin account of Chrisi Church is the Generdl Fund, described as unreslricied funds in the financial statemcnts, meaning ils funds are availablc lo be spcnl on PCC. g¢ncral purposes. In 2U23 income was £113,265 (compared with £1 01.858 in 2022), and expenditure was £1 00,648 (compared with £97 369 in 2022). mcaning there was a surplus of £12,617 for the year. This compared with a SUTplus of £4,489 in 2022. The Surplus for 2023 is part of the year end reserve of £18.896. At the starl of2023 a balance of £16.685 w& brought fonvard. To this was add the surplus foi 2023 of £12,617 and the transfer from thc Aged and Intim) rund ot'£4.594. There was then a transfcr of £15.000 to the Building Trust Fund. meaning the year-cnd ba1ce on the General Fund was £18,896. Note 2 to the Accounts provides the detailed inforniation on income. Income from donations was £83,208 inclusive of tax recovered on gift aid, thanks lo God working through ihe gyenerosity of church mcmbers. 'I'here was a150 income a5 a Icgacy from the e.qlaic of thc late Gillian Wrighi. This Lompares with donations of £76,576 in 2022. InLome from the Christ Church Centre was £9,185 compared wilh £8,31 l in 2022. Therc was also £2,880 from car parking comparcd with £1,890 in 2022 a5 the Walter Boycc Centre has made usc ot. spaces. Fee income from w¢ddings td funerals was £778 compared with £1.640 in 2022. Dividend income was maintained.. £10,907 was received on thc General Fund compared with £10.787 in 2022. £4,594 was transt¢rred Irom the Aged and Infinn Fund io support (weneral Fund activities because many of ihese are provided in accordance with the aims and objectives of the forn)¢r Fund. In 2022 the figure was £4,042. Othcr funds general were £3,182. made up of tea and coffee money, donations from activities such as fIlm night%, Meals and wrLath making. In 2023 therc was also th¢ leaving collection for Stuart and Su7Ann¢. 'I'his incomc was oifset by expenses incurred in respect of these item8 and the payment of th¢ leaving collection lo Stuart and Suzanne, included within the £1,756 of misccllaneous exndIture. Notc 3 to the Accounts provides the detailed infomtIon on expendilure. Energy costs were high in 2023. Expenditure on gas was £6,342 compared with £3.128 in 2022. and expenditure on electricitv £4.650 compared with £2,855 in 2022. However, the Church was successfijl in its application to the Diocese for a grant of £1,520 to help cover high energy costs. B¢cau5c there aTe now mELSiCtAns for the morning and ev¥ning services, any organist costs are minimal. Only £30 was spent. Expenditure on maintenance was Page 3
£4,739 in the General Fund compared with £2,365 in 2022. There was expenditure of £1,638 on fire alarn) and emergency lighting senrice and repair, and £1,758 on service and repair of the church boiler. This is now ov¢r 30 years old and any replacement will be exnsiVe. Expenditure on administration was £990 in 2023 LompaTed with £773 in 2022. Expenditure included £415 as the Christ Church share of the advertisement for the new vicar. St Mary s contributed the other half. Printing and stationery costs were £1,158 which mainly relaled to leastng costs of the printer/photocopier compar¢d wilh £1,091 in 2022. Expenditure on upkeep of services was £871 compared with £2,980 in 2022. In 2022 expenditure on pew bibles, thc Payaz machine ad a digilal piano had been charged here. Cleaning costs were lower in 2023 as we no longer employ a cleaner. The work is done by volunteers. What we cannot put a price on is the value of th¢ work of our volunteers, as highlighted in the Activiti¢s Report. which is produced s¢pardlely from this report. Withoul Iheir input the Church would not be able to carry out the many activities it undertakes. OUT thanL8 go to all our volunteers. The methodology for calculaling the Parish Share changed for 2023 and more accurately reflects the cost i)f ministry. As a rcsult in 2023 Christ Church was able to pay its portion of the Parish Share of £66.020 in t. This was the first time in scvcral years the church was able to pay its parish thare in full. That said in previous years. as a Benefice boih Christ Church and St Mary's had covered the cost of mini8try. i.e. whal it cosls for one stiPLndiary minister to be employed plus all ihe overhead costs of ihc Dioccsc. 'I"he budgyet f()r 2023 was prepared on the basis of a deficit on the year of £l1.109 which would be Lovcrcd by th¢ ba1ce of £16,685 brougTrht fonvard into 2023 and a transfer of £3,500 from thc Aged and Infirni Fund. However. income excceded expeclalions through gyiving. centre hires. car parkinL>. Ihc encTgy granl and a legacy of £ I,01)O. In addition expcndilure was slightly b¢low budget. An overspend on repairs was offset by energy cost8 bein&y below budget and a saving on the salary of the parish adminislralor due to fewer hours bein worked. There was a 8urplus on the yLar. In previous years any SUTplus has been used io support the following ycars bud¥cl. Ilowever the budget for 2024. thanks lo increased giving and a fall in enLrgy costs, h&s a deficit ot'£600 whtch can be mor¢ than covered by the transfer from the Aged aJJd Infinn Fund. The Church has entered into a 2 year contract wilh EON energy for both gas and electricity ai lower rates than were charged for 2023. During 2023 donaiions of£666 were madc lo 'fearfund, and £125 was donalL.d to B%CWI" through Christ Church accounts. £350 w&5 also raised for Macmillan Cancer Relief at a coffee morning. In 2023 in addition to His other blessings to Christ Church, God blessed us fJnancia]ly. Th¢ PCC has deLided that it is now in a position to make charitable donations for the first time in several years. A total of £5,000 was set &side. £2,000 has now been paid to Elrentwood Schools Christian Worker Trusl. £1,500 to 'fearfund and £1,500 to 8awyers Ilall Church who run the Brentwood branch of Christians Against Poverty. At ihe samc time, mindful of thc ne¢d to have resource5 for the maintenancc of thc Church, a lotal of £15,000 has been tranbferrcd to the Building Trust l-und. This leaves a General Fund Reserve of £18,896. Part of this reserve may need to be spent on preparing the vicarage for the new incumbent. The Diocese will pay t.or structural and insulatton work but there may b¢ costs Christ Church will have to incur. R¢serves Pollcy As staled above the (ieneral Fund Reserv¢ at 31 Sl December 2023 was £18.896. The imporlance of reserves is that they provide the cash necessary to smooth out fluctuations in cash flow and meet emergencies. F.ach month we pay the following large bills by direci debit: parish share (£5,671), gas, electricity and utilities (£453 average but higher in winter). Ai the end of 2023 the Cash balances on the G¢nerdl Fund were £43 532 compared with £35.970 at the end of 2022. Th¢ reason for the c&sh balances being higher than the General Fund Rescrve is thai there is £20,512 8till in hand from the loan for the Parish Hall which is only diie fnr repaymcnt to the Dio¥csr ill the long tenn. "I"h¢retore, tor 2024 sufficient cash resources are available to Page 4
meet timing differences Ixtween income and eXAdItUre and any emergency items. This position will need to be kcpt under review. Other funds The closinLI balanccs and main transactions on funds other than the Genal Fund were as follows: EndowmeDt Fund& These ar¢ donalions lo the Church io be invested and the income used for general or speLific purposes such as repairs or the choir. The investments were valued at £35,475 as at 31° December 2023. 1.he comparable figure at the end of 2022 w&8 £33.194. Dividend income of £1.167 w&8 credited to the (yeneral Fund (£l.I 00 in 2022) and applied in OrdanCe with the tern of the trusts. Cbrisl Church Centre. This was set up lo fmance major building work to the Centre. I'he fund was closed in 2022 and the balanc¢ of £201 trdnsferrcd to the Building Trust Fund. A%¢d and Infirm. In l 975 Mr Surridge bequeath a sum of money to be inv¢sled for the ben¢fil ofthc aged and intirni. Investments produccd dividend incom¢ of £5,194 compared wilh £5.042 in 2022. £600 was uscd to pay for thxis compared with £l.000 in 2022. This meant that the Iranst"er to tbe General Fund £4.594 compared with £4,042 last year. The invcslments which provide dividend incom¢ were valued at £87,176 &s at 31, December 2023. The 31" December 2022 valuation w&8 £89.273. There is a revenue balance on th¢ Fund of£3.030 as at 31° December 2023. Building Trust Fund. This trust was set up in 1996 to provide for work to the interior and exterior of the ChurLh and any work in the grounds. The balances on the Chrisi Church Centre Fund (£201) and Trabric Fund (£578) were transferred to this fund ID 2022. No cxpendilure was inCU¢d in 2023. However the Memorial Fund which had last incurred expenditure in 1993 wa8 closed down and its balance of £1,188 transferred her¢. In addition backdated interesl of £915 was receivcd in respect of Parish I lall loan repayments. There was a dclay when a bank account was clos¢d down and the dekX)Sitor Was not notified of the change and necd to transfer the interesl elsewhcre. Finally £15,000 transferred from the Gencrai Fund which increased the Y-end balance lo £26,199. Fabric Fund. 'I'his fund was closed down in 2022 and the balancc of £578 transferrcd to the Building Trust Thorndales. 'The nei procecds due to th¢ PCC r¢lating to the sale of the fonner curate's house werc invested in income shares of the Church Ik)ard of Finance Church of England Investmeni Fund on 30, April 2019. The value ot. Ihe investment on 31, Deccmb¢r 2023 w&s £356,341 Compar with £325,698 a ycar garlicr. Thc inv¢stment is h¢ld by the Diocese as Cusiodian Trustee. The PCC as Managing Trustee receives the dividend income. Full year dividend income in 2023 was £9,740 compared with incomc in 2022 of £9,687. Parish Hall. Th¢ hall was sold many years ago. The Diocese are custodian trustecs and hold ihc &qsh. It represents the amount ol. loan repayments of £683.75 each year by the Church to the Diese in rcspcct of the lo granted by the Diocesc in 1990 for the internal r¢ordering of thc Church. 'fhis is on int¢rest free loan. At the end of the year the loan outstanding £20.512 {£21,196 in 2022) and cash held by the Dio¢esc as custodian trustee was £21,184 (£20.499 in 2022). This cash is held in a deposit ac¢ount and thL' interest is credited to th¢ Building Trust Fund. (see above) Pop up Café. t)uring 2023 cafe sales exceeded the cosls of provisions. There w&s a balance on the fund of £3.691 on 31" Deccmbcr 2023. Toddlers Group. This group is currently not 0rating. There is a balan of £1.442 on the fund at the ¢nd of the year. Memorial Fund. This fund was closed down in 2023. Approved by the PCC on 13th March 2024 Olive LAW Chair of the PCC Page 5
Independ¢nt traminer's report to the TnteeS of Christ Cburch, Great Warley? Parochial Church Council I report to the tte¢S on my ¢xamination of the accounts of the abov¢ charity ('tbc Trust") for th¢ year ended 3151 Deeember 2023. Responsibilities and basis of report As the charity's trustees. you arc reSnSIble for the pparation of the accounts in accordance with the requirements of the Charities Act 2011 ('tthe Act"). I report in respect of my examination of the Tnt'S accounts carried oul under section 145 of the 2011 Act and in carrying out my examinalion. I have followed all the applicable Directions given by the Charity Commission under section 145{5Xb) of the Act. Independent examiners statement I have completed my examination. I confirni that no material mall¢rs have comc to my attention in connection with the cxamination which give me cause to believe that in. any material respect: the accounting records were not kept in accordance with section 130 01. the Charities Acl. or the accounts did not accord with th¢ a¢¢ounting records. or the accounts did not comply with the applicablc requirements concerning the fonn and content of accounls set out in the Charities (Accounts and Reports) Regulalions 2008 other than any requirement that the accounts give a 'true and fair. view. which is not a matter considered & part of an indepcndcnl cxamination. I have no concerns and havc come across no other matters in connection with ihe examination lo which attention should be drdwn in this report in order lo enable a proper undcr5tandingy of ihc aOuntS to bc reached. Neville Reid, ACA 19 Mills Grove Poplar l.ondon E14 ORH 13, March 2024 Page 6
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Christ Church, Warley, Brentwood Balance shèet for the year endlng 318t December 2023 Totsl fvnds Prfor egr fuDds Note Fixed assets Investments 478.991 478.991 448.165 448,165 Cyrrent asaets Debtors Cash bank and in hand 4.828 99.077 J03,905 4.931 73.322 78353 Liabilities Creditors: Amounts falling due within one year et ¢urrent w¢ts 10(a) {8.951) (3.195) 75,058 Total ets les8 current li*bilities 573.945 523.223 Creditors: Amounts falling due after one year 10(b) (20,512) (21.196) Total net asset8 less IlabllltieJ Fund8 ofthe Charity 12 Unrestrleted Cyenernl lund 18.896 16,685 Doignaied Fabric Fund Sale of Thorndales Memorial Fund 356,341 325,698 1,188 Restricted Ag¢d and Infirni Fund Building Trust Fund Christ Church C¢ntre Pop up Café Toddlers Group Sale of old hall 90,206 26.199 92,303 9.096 3,691 1.442 21,184 2,180 1,183 20.500 14 Endowment Endowment 35.474 33.194 Funds of the Charity 553,433 Approved by the PCC on 13 March 2024 Olive I,aw, Chair of the PCC Page 8
Christ Church. Warley, Brenlwood Notes to the Financial Ststements for the year ending 318t December 2023 NOTE I. ACCOUNTING POLICIES The PCC is a publÈc kn¢fit entity within the meaning of FRSI 02. The financial slatements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCS, and with the Regulations rue and fair view" provisions. They are also prepared under fRSI 02 as the applicable accounting stsndard and th¢ 2019 version of the Statement of Recommended Practice. Accounting and Reporting by Charities (SORP(FRS102)). (a) In¢ome Planned giving, collections. and similar donations are Tecognized when received. Tax reclaimed in respeLI of Gift Aid is recognized when the incoming resources to which they relate are rec¢ived. Grants and Ic8acies are aLcounlcd for when the PCC. is entitl¢d to the use of the resourc¢s. their ultima reccipt is consider¢d rea4onably certain and the amounts due are reliably quantifiahle. Dividcnds are accounted for when declared reccivable, interest as and when received. All incoming resources are accounted gross with the exceplion of fee8 for wcddings and funerdls. Thc total income for these items includes amounts due io the DioLese and expenses to hclp¢rs. "These are netted off the total amount leaving in ihe accounts only income properly due to the PCC. {b) Expenditure Grants donations are accounted tor when paid over or the PCC commits to payin8 frijm rcsources for the rinancial year in question. Thc Diocesan Parish Share is paid over when due provided resources are available. All other expenditure is generally recogni/£d and is accountsd for gross. (e) Volunte¢r5 Withoul our volunle¢rs the Church could not function. However, il is not possible to put a value on the work Ihey do. (d) As.9ets Congecr¥ted And benefiee property In so tar as conseLrat¢d and ben¢tice property of any kind is excluded from the statutory dLfinilion of charity by Section 10(2)(a) and (c) of the Charities Act 201 I such as5eLs are nol capitalized in the tinancia] 8talemcnls. Moveable church furnishings Moveable chur¢h furnishings held by the Vicar and Church Wardens on special trust for ihe PCC and which require a faculty for disposal are accounted as inaIienablc propety listcd in the church's inventory (which can be inspected at any reasonable time). For anything prior to 2000 there is insufficient cost inforn]ation availablc and iherelore such assels are not valued in the financial slatcments. Since then no individual item has cost morc than £1,500 (see below). Tangible fixed assets for use by the eharity. Thcse are capitali7.ed Tf they can be used for rn0 thaD one ycar and cost morn than £1.500, and are then dcpreciated over their use*ul onoMiC life. However since 2000 rK) individual item cost more than £1,500 and so all expenditure h&5 been written otywhen incurre Investments These are valucd at market valu¢ al the year end. Short tcrn] deposits These are either cash held on deposit with the bank or CCLA. Page 9
Christ Church. Warley, Brentwood Notss to the Financial Ststements for the year ending 31st December 2023 (e} Funds Unrestricted Funds. These arc income funds which arc to k spent on the PCC'S g¢n¢ral pUoSeS. For Christ Church thcre is one unrestricl¢d fund, the General Fund. Designated Funds. These are general funds set &side by the PCC for use in the future. Designated funds r¢main unrestriclcd, and the PCC may move any surplus lo other generdl funds. Designaled funds are thc Memorial Fund and the investment of the salc proceeds olThorndal¢s. In the casc of the lalter tb¢ Diocese holds the funds a8 Custodian Trustee. Restricted Funds. Th¢sc comprise (a) incom¢ from trusts and endowments which 18 lo be expended only on the restrictcd purposes intended by the donor and (b) revenue donations and grants for a specilic PCC activity intended by the donor. Any balance unspcnt at the end of the year is carried fonvard as a balance on thdt fund. The major restricted funds for Christ Church are the Aged and InfirnL the Building I'rusL the Pop up Café and the Toddlers Group. The Sale of the Old Hall is held by the Diocese. Endowment Funds. These are funds, the capiial of which must be Tetsined cither pennanently or al the PCC'S discretion. The income derived from an endowment is to be used either as restricted or unre8tricted funds depending on thc purpose for which the fund was esthblished in ihe first place. For Chrisi Church. endowments are th¢ invLslments which are not part of the Agcd ld Infirni Itund. The dividend income is r¢.dilcd to the General Fund as thc PCC consider it is spenl wiihin the CJeneral Fund in accordance wilh the purposes for which the funds were set up. Page 10
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Christ Church, Warley, Brentwood Notes to the Financial Ststements for the year ending 31$t December 2023 NOTE 4. GIL4NTS 2023 2022 Brentwood Council startup grant for Cafe Energy costs support grant from Diocese NOTE S. ATr4ALYSIS OF EXPENDITURE 3,000 1.520 2023 2022 Independent examiner's rernuneration 5(X) 450 No trustee ¢laimcd any expenses in connection with their role as a trustee in either 2023 or 2022. NOTF. 6. STAFF COSTS 2023 2022 Salaries and wages Pcnsion costs Total 2,600 7.515 300 For part of 2022 the PCC employed and paid a Psh Administrator and a cleaner (bolh part lime}, Both re.%igined during the ycar. Thc clLan¢r has not been r¢placcd- her work is covcred by VolunteL. A rep111 cL'menl Parish Administrator commenced employment in May 2023. Her Cuent working hows are 6 h015rs per week. This follows a review of the role after thc departure of the previous posiholder. 1'he new postholder has yet to exercise her right to join the workplacc pension scheme operated by the PCC which is NF.%'l". 'fhis is a defined conlribution scheme and so no liability will fall on the Trustees. Both employer and ¢mploy¢¢ pay 40/0 into this scheme. NOTE 7. ANALYSIS OF TRANSFER BETWEEN FUNDS Unrestricted Designated Restricted Transfcr from Agyed and Infirm to General Fund I"ransfer lo 13uilding Trusi Fund from Memoria] Fund Transfer to Building Trust Fund from (ieneral Fund In view of the agc profil¢ of the congregation thc PCC agrecd to transfer the annual surplus on the Aged and Infirm Fund to the General Fund Since a large part of ihe Church'5 general activities relate to the elderly and infirm. In 2023 the PCC agreed to close down the Memorial Fund and transfer the bajance to the Building Trust Fund. Thc PCC also agreed to tran51er £15,000 froffl th¢ Gencral Fund to the Building 'frust Fund. 4.594 (4.594) 1.188 15,000 (1.188) (15,000) Page 15
Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31st December 2023 NOTE 8. FIXED ASSETS 2023 2022 Investments Market valu¢ I st January GaIn{losses) Market value 31 st Dccember 448,165 500.858 478.991 The market value at the end of the year PresCnts invcslm¢nts for: F.ndowment Funds 35,474 Sal¢ of Thorndales 356,341 Restricted Funds 33.194 325.698 NOTF 9. CURRF.NT ASSETS Debtors Unr¢striLted funds: Tax recoverablc Prcpaymcnts Other To1 2023 2022 2,839 1,499 490 2.831 1,278 822 NOTF. 10. LIABILITIES (a) Creditors falling due within l year 2023 2022 Unrestri¢ied funds.. SaI41es and pcnsions C'haritable donations Other Restricted: Other Total 5.525 3,426 400 2,620 175 (b) Creditor5 falling due after l year Loan trom Diocese re Parish Hall 20,512 21.196 In 1990 the proceeds from the sale of the parish Hall were paid over to the Dise. These were immediately loaned back to th¢ Parksh to fund thc internal reordering of the Chub. The loan is interest fr and is being paid back with annual instalments of £683.75 with fllwl rq)ayment duc in 2053. Page 16
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Christ Church. Warfey, Brentwood Notes to the Financial Ststements for the year ending 31st December 2023 NOTE 13. RELATED PARTIES 2023 2022 Giving by Trustees 28,305 20.820 This is the giving by members of the PCC for the WOTk of the Church excluding gift aid. NOTE 14. FUIYDS HELD BY DIOCESE The Chelmsford Diocesan Board of Finance holds legal title as Custodian Tn]stee of the funds below. The rnanagement ()fthe trusi funds is the resEK)nsibiliiy of the PCC as Managing Trustees. 2023 2022 P#rish hall loan repaid 21,184 20,500 The funds have bccn placed in a dcdicatcd dcwsit account managed by thc CCLA. Clerical a881Stanc¢ for the vicar 2.780 2.541 The funds have been invested in the CCLA Church Board of Finance Church of EngIand InvestmentIUnd Income Shes. This fund is included within the figures in not¢ 12 for Endowment Funds. Sale of Thorndales 356.341 325,698 The funds havc been invested in the CCLA Church Board of Finance Church of England Investmeni bund Income Shares. Income AS accounted for in Christ Church's accounts &s follows: 2023 2022 Pari8h hall loAn repaid IntLrLsÉ backdal¢d duc lo delay when bank aLcount was LlosLd. Interest is credited to Building Trust Fund 915 Clerieal asslstance for the vicar 76 Dividend incorne is crediled to the General Fund. 76 Sale of Thorndal¢s 9.740 Dividend income is craited to the General Fund. 9,687 Page 21