Christ Church, Warley, Brentwood Annual Report and Financial Statements st Year ending 31 December 2024 Incumbent Reverend Dawn BLrtcher Bankers Nat West 46. High Street, Brentwood, CM14 4AL Independent Examiner Neville Reid ACA 19, Mills Grove, Poplar London E14 ORH Page I Christ Church, Warley. Brentwood Trustees Annual Report for the year ending 31st December 2024 PCC Foreword Administrative InforD]ation Christ Church is situated ai Warley Hill, Warley.. Brcntwood, Essex, CMI 3 3AA. This is also the address for correspondence. It is part of thc Diocese of Chelmsford within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956 and Church Representation Rules 2006) and a charity registered with the Charity Commission (CC registration number l 138758). Aims and purposes Christ Church Parochial Church Council h&s the responsibility of cooperating with the Incumbent in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. The PCC is also specifically responsible for the maintenance of the church complex at Christ Church, Warley. Structure? governance and management The method of appointment of PCC members is set out in the Church Representation Rules. At Christ Church the membership of the PCC consists of the Incumbent, the Church Wardens, members elected by those members of the congregation who are on the electoral roll of the Churcm and any member(s) co-opt¢d for specialist skills which are needed at the time. The PCC members are responsible for making decisions on all matters of general concern and importance to the parÈsh including decisions on how the funds of the PCC are to be spent. New members rec¢ive initial trainlng into the workings of the PCC. The PCC meets 6 times during the year. Given its wide responsibilities work is delegated to the Leadership Team and groups responsible for buildings and ministry. There is also a PCC Secretary. Safeguarding Officer, Electoral Roll Officer and a Treasurer appointed by the PCC. All these groups are responsible to the PCC and report back to it regularly. PCC Membership 2024 PCC Members who have servcd anytime from the APCM on 21 st April 2024 to the date this report is approved are shown below. Ex Officio Members Incumbent and Chair of PCC.. Revcrend Dawn Butchcr from 23 April 2024 Church Wardens: Olive Law, also Chair of PCC until 23, April 2024 Sylvia Partridge, also PCC Sccrctary Deancry Synod Rcps: Olive Law Louise Kearns Elected Members: I'im Wood Brendon Horrocks Amy Horrocks Richard Watts Elaine La Rasle David Fisher John Kettlewell, Treasurer Mark Townsend Liz Edwin Page 2 Objectives and ActKvities The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at Christ Church. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups which live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament. When planning our activities for the year we have considered the ChaTity Commission's guidance on public benefit and in particular the supplementary guidance on charities for the advancement of religion. We try to enable ordinary pcople to live out their faith as part of our parish community through l. Worship, biblc study and prayer, leaming about the gospcl and d¢veloping their knowledge and trust in Jesus as Lord and Saviour 2. Provision of pastoral care to people living in the parish 3. Missionary and outreach work. To facilitate this work it is important that we maintain the fabric of Christ Church. This rwort focuses on finance and governance matters. A separate r¢port on the many activities of the Church shows how the PCC achieved the above objectives in 2024. Financial review General Fund The main account of Christ Church is the General Fund, described as unrestricted funds in the financial statements, meaning its funds are available to be spent on PCC general purposes. In 2024 income was £112,764 (compared with £113,265 in 202J), and expenditure was £ l 01,195 (compared with £1 00,648 in 2023), meaning there was a surplus of £11,569 for the year. This compar¢d with a surplus of £12:617 in 2023. The surplus for 2024 is part of the year end reserve of £30,465. At the start ot. 2024 a balance of £18,896 was brought forward. In 2024 no transfer from the Ag¢d and Infirm Fund has been made due to a revicw of the Trust deeds which is currently being carried out. Note 2 to the Accounts provides the detailed information on income. Income from donations and legacies was £85,618 inclusive of tax rccovered on gift aid, thanks to God working through the generosity of church members. There were no legacies in 2024. In 2023 there was a legacy of £ 1,000 from the estate of the late Gillian Wright. This compares with donations of £83,208 in 2023. Income from the Christ Church Centre was £10,059 compared with £9,185 in 2023. There was also £960 from car parking compared with £2,880 in 2023 as the Walter Boyce Centre had made use of spaces. However, they tenninated their agreement with the PCC at the end of April 2024. No oihcr local organisation is currently making use ofthe spaces. Fee income from weddings and funerals w&s £1,231 compared with £778 in 2023. Dividend incomc was maintaincd: £1 1,113 was received on the General Fund compared with £10,907 in 2023. Oth¢r funds generated were £2,822 made up of tea and coffee money, donations from activities such &s filtn nights, meals and WTeath making. This income was offset by expenses incurred in respect of these items, included within the £778 of miscellaneous expenditure. Note 3 to the Accounts provides the detailed inforniation on expendilure. Expenditure on gas w&$ £3,922 compared wilh £6,342 in 2023, and expenditure on electricity £2,391 compared with £4,650 in 2023. Because of a change in accounting policy 13 months payments have been included in 2024. In spite of this, a fall in energy prices has led to a reduction in expenditure. Energy contracts with EON arc in place until October 2025 for clectricity and November 2025 for gas. Because there are now musicians for the morning and evening services, there were no organist costs. The PCC employs a Parish Administrator. Expenditure in 2024 was £3,978 for a full year compared with £2.600 in 2023 for a part year. F.xpenditure on M￿ntenanC¢ was £11,894 in the General Fund compared with £4,739 in 2023. Major items of expenditure were £3,285 on Page 3 a replacement boiler for the Centre, £3,250 to Tetarniac part of the Church drive, £1,738 on lightning protection work and £631 on the f￿e extinguisher service as a number of extinguishers needed replacing. Other than its annual service there was no expenditure on the church boiler in 2024. A number ot. these items could have been charged to the Building Trust Fund, but in view of its healthy financial position, were charged to the General Fund. Expenditure on athninistration was £883 in 2024 compared with £990 in 2023. Expenditure in 2023 included £415 as the Christ Church share of the advertisement for the new vicar. St Mary's contributcd the other half. Printing and stationery costs were £722 compared with £1,158 in 2023. The reduction in printing costs is due to the fact that w¢ did not renew the lease for the printerlphotocopier when it expÉred and are using a donated printer/copier. However, this is not a long temi solution. F.xpenditure on upkeep of services was £1,038 comparcd with £871 in 2023. Extra costs were incurred as an additional music liLence was needed from CCLI. Cleaning costs are low as we no longer employ a cleaner. The work is done by volLmteers. What we catmot put a price on is the value of the work of our volunteers, as highlighted in the Activities Report which is produced separately from this report. Without their input the Church would not be able to carry out the many activities it undertakes. Our thanks go to all who volunteer their tim¢ and talents. The methodology for calculating the Parish Share changed for 2023 and more accurately r¢flects the cost of ministry. As a result, in 2023 and 2024 Christ Church was able to pay its portion of the Parish Share in full. This was the first time in several years the church was able to pav its parish shar¢ in full. That said in previous years, as a Beneflce both Christ Church and St Mary's had covered the cost of ministy, i.e. what it costs for one stipendiary minister to be employed plus all the overhead costs of the Diocese. In previous years the budget was prepared on the basis of an in-year deficit which would be covered by the balance in the previous year brought forward. Each year income would exceed expectations, and expenditure would also be slightly below budget. So, the in-year surplus was used to support the following year's budget. However, thanks to increascd giving, the PCC can now prepare budgets which are in balance and not have to rely on previous year's surpluses. In 2024, donations of £530 weTC made to Macmillan Cancer Relief, £51 BSCWT for "It's your move" booklets and £50 to Friends of Essex Churches. In 2024, in addition to God's other blessings to Christ Church, God blessed us financially. However, no donations to other charities hav¢ made, pending reports on major repairs needed to the fabric of the Church. If the PCC decides to make any other donations they will be made in 2025, fimded from the General Fund Reserve. Reserves Policy As stated above the General Fund Reserve as at 31" December 2024 was £30,465. The importance of reserves is that they provide the cash necessary to smooth out fluctuations in cash flow and meet ¢mergencies. Each month we pay the following large bills by direct debit: parish share (£5,683), gas, electricity and utilities (£491 average but higher in winter). At the end of 2023, the cash balances on the General Fund were £48,924 compared with £43,531 at the end of 2023. The reason for the cash balances being higher than the General Tr und Reserve is that there is £19,828 still in hand from the loan for thc Parish Hall which is only due for repaymenl to the Diocese in the long tenn. Therefore, for 2025 sufficient cash resources are available to meet timing differences between income and expenditure and any cmergency items. This position will need to be kept under review. Other funds The closing balances and main transactions on funds other than the General Fund were as follows: Endowment Funds. These are donations to the Church to be invested and the income used for general or specific purposes such as repairs or the choir. The investments were valued at £36,106 as at 31 December sl 2024. The comparable figure at the end of 2023 was £35,474. Dividend income of £1,222 was credited to the General Fund (£1,167 in 2023). The PCC is satisfied it continues to be applied in accordance with the terms of the trusts. Page 4 Aged and Infirm. In 1975, Mr Surridge bequeathed a sum of money to be invested for the benefit of the aged and infinn. Investments produced dividend income of £5,467 Compared with £5,194 in 2023. £559 was used to pay for taxis compared with £600 in 2023. There has been no transfer to the General Fund in 2024. st The investments which provide dividend income were valued at £89,448 as at J l December 2024. Th¢ 3 1st December 2023 valuation was £87,176. There is a revenue balance on the Fund of £7,938 as at 31" December 2024, compared with £3,030 on 31" December 2023. Building Trust Fund. This trust was set up in 1996 to provide for work to the interior and exterior of the Church and any work in the grounds. No expenditure was charged to the Fund in 2024. Interest of £1.085 in respeLt of the amount of Parish Hall loan repaid to the Diocese w&s credited to the account. The balance at the end of 2024 is £27,284 compared with £26,199 at the end of 2023. Thorndales. The net proceeds due to thc PCC relating to the sale of the fomier curate's house were invested in income shares of the Church Board of Finance Church of England Investment Fund on 30 April 2019. si The value of the investment as at 31 December 2024 w&5 £364,497 compared wilh £356,341 a year earlier. Th¢ investment is held by the Diocese as Custodian Trustee. The PCC as Mallaging Trustee reccive.8 the dividend income. Full year dividend income in 2024 was £9,892 compared with income in 2023 of £9,740. Parish Hall. The hall was sold many years ago. The Diocese are custodian trustees and hold the cash. It represents the amount of loan repayments of £683.75 each year by the Church to the Diocese in respect of the loan granted by the Diocese in 1990 for the internal reordering of the Church. This is an interest free loan. At the end of the year the loan outstanding was £19,829 (£20,512 in 2023) and cash held by the Diocese as custodian trustee was £21,867 (£21,184 in 2023). This &￿h is held in a deposit account and the interest is credited to the Building Trust Fund (see above). Pop up Café. During 2024 cafe sales cxceeded the costs of provisions. There was a balance on the fund of £5,263 as at 31 December 2024 compared with £3,691 a year earlier. Toddlers Group. This group is currently not operating. There is a balance of £1.442 on the fund at the end of the year. Memorial Fund. This fimd was closed down in 2023 and its balance transferred to the Building Trust Fund. Approved by the PCC on 19th March 2025. Revcrend Dawn Butcher Chair of the PCC Page 5 Independent Examiner's report to the Trnstees of Christ Chureh, Great Warleyy Parochial Church Council I report to the trustees on my examination of the accounts of the above charity ('Xhe Trust") for the year ended 31" December 2024 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 ('tthe Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 201 l Act and in canying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Acl. Independent examiners statement I have completed my examination. I confirni that no Tnaterial matt¢TS have comc to my attention in connection Thith the examination which give me cause to believe that iffj any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act" or the accounts did not accord with the accounting records- or the accounts did not comply with the applicable requirements concerning the forn] and content of accounts set out in the Chartties (Accounts and Reports) ReguIations 2008 other than any requirement that the accounts give a 'true and fair, view. which is not a matter consider¢d as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Ncville Reid, ACA 19 Mills Grove Poplar London E14 ORH 19 March 2025 Page 6 Christ Church, Warley. Brentwood Balance sheet for the year ending 31st December 2024 Total funds Prior ear funds Note Fixed assets Investments 490,052 490,052 478,991 478,991 Current *ssets Debtors Cash at bank and in hand 4,666 112,728 117J94 4,828 99,077 103,905 Liabilities Creditors." Amounts falling due within one year Net current assets l O(a) (3.306) (8,951) 114,088 94,954 Total assets less eurrent liabilities 604,140 573,945 Creditors". Amounts falling due after one year l O(b) (19,829) (20,512) Total net assets less liabilities 584Jll 553,433 Funds of the Charity 12 Unrestricted General fund 30,465 18,896 Designated Sale of Thorndales 364,498 356,341 Restrieted Aged and Infinn Fund Building Trust Fund Pop up Cafe Toddlers Group Sale of old hall 97,386 27,284 5,263 1,442 21.867 90,206 26,199 3,691 1,442 21,184 14 Endowment Endowment 36,106 35,474 Funds of the Cbarity 584Jll 553,433 Approv¢d by the PCC on 19 March 2025 Reverend DaMq] Butcher, Chair of the PCC Page 8 Christ Church, Warley. Brentwood Notes to the Financial Statements for the year ending 31st December 2024 NOTE I. ACCOUNTING POLICIES The PCC is a public benefit entity within the meaning of FRS102. The financial statements have be¢n prcpared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 Toverning thc individual accounts of PCCS, and with the Regulations 'ttrue and fair view" provisions. They are also prepared under FRS102 as the applicable accounling standard and the 2019 v¢rsion of the Statcment of Rccommended Practice, Accounting and Reporting by Charilies (SORP(bRS102)). (a) Income Planned giving, collections, and similar donations are recognizcd when received. reclaimed in respect of Gift Aid is recognized wh¢n the incoming resources to which they relate are received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, their ultimate receipt is considered reasonably certain and the amounts duc are reliably quantifiable. Dividends are accounted for when declared reccivable, interest as alld when received. All incoming resources are accounted gross with the exception of fees for weddings and funerals. The total income for these items includes amounts due to the Dioces¢ and Cxpenses to helpers. These are netted off the total amount leaving in the accounts only income properly due to the PCC. (b) Expenditure Grants and donations are accounted for when paid over or the PCC commits to paying from resources for the financial year in question. The Diocesan Parish Share is paid over when due provided resources are available. All other expenditure is generally recognized when an obligation to pay has arisen and is accounted for gross. (c) Volunteers Without our volunteers the Church could not fi]nction. However, it is not possible to put a value on the work they do. (d) Assets Consecrated and benefice property In so far as consecrated and benefEce property of any kind is excluded from the ststutory defmition of charity by Section l 0(2)(a) and (c} of the Charities Act 201 I such assets are not capitslized in the financial statements. Moveable church furnishings Moveable church furnishings held by the Vicar and Church Wardcns on special trust for the PCC and which require a facully for disposal are accounted as inalienable property listed in the church's inventory (which can be inspected at any reasonable time). For anything prior to 2000 there is insufficient cost int"orn]ation available and therefore such assets are not valued in the financial stat¢menls. Since then no individual item has cost more than £1,000 and the expenditure has been written down when incurred. Tangible r￿ed assets for use by the eharity. At present all expenditure is WTitt¢n down whcn incurrcd. This will be reviewed if a large amount of expenditure is incurred on a fixed asset and the PCC considers it should be depreciated over its useful economic life. Investments These are valued at market value at the year end. Short terni deposits Cash not immediately required is held on deposit with the Natwest Bank or CCLA Investment Management Limited which manages investments and c&%h of cl]arities. Page 9 Christ Church. Warley, Brentwood Notes to the Financial Statements for the year ending 31st December 2024 (e) Funds Unrestricted Funds. These are income funds which are to be spent on the PCC'S general purposes. For Christ Church there is one unrestricted fund, the General Fund. Designated Funds. These are general fimds set aside by the PCC for use in the future. Designated funds remaÈn unr¢strictcd, and the PCC may move any surplus to other general funds. The only designaled fund at prescnt is the investment of the sale proceeds of 'fhorndales. The Diocese holds the fimd as Custodian Trustee. Restricted Funds. Th¢K comprise (a) incomc from trusts and endowm¢nts which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations and grants for a specific PCC activity intended by the donor. Any balancc unspent at the end of the year is carried forward &s a balance on that fund. The restricted funds for Christ Church are the Aged and Infirm. the Building T￿￿t, the Pop up Cafe and the Toddlers Group. The Sale of the Old Hall is held by the Diocese as Custodian Trustee. Endowment Funds. These are funds, the capital of which must be r¢tained either pernianently or at the PCC". s discretion. The income derived from an endowment is to be used either as restricted or unrestricted funds depending on the purpose for which the fLuid was established in the first place. For Christ Church, endowments are the investments which are not part of the Aged and Infirm Fund. The dividend income is credited to the General Fund as the PCC consider it is spent within the General Fund in accordance with th¢ purposes for which the funds were set up. Page 10 ¢0 Ko tymctrj C¢Jc ot mtnm OC uo Q{?DOaQQ￿J C)UVCJ ￿all) Ca￿￿)0 opj CA oo e4• UO SX ¥dJ CL)L)L) wQQQ 4tytr4 crt ¢ OCAI 7) 0£££"_ t4(>1￿￿"*&LIv0vL)￿b Christ Church, Warley, Brentwood Notes to the Financial Statements for the year ending 31st December 2024 NOTE 13. RELATED PARTIES 2024 2023 Giving by Trustees 29,515 28,305 This is the giving by members of the PCC for the work of the Church excluding gift aid. NOTE 14. FUNDS HELD BY DIOCESE The Chelmsford Diocesan Board of Finance holds legal title as Custodian Trustee of the funds below. The management ot the trust fimds is the responsibility of the PCC as Managing Trustees. 2024 2023 Parish hall loan repaid 21.867 21.184 The funds have been placed in a dedicated deposit account managed by the CCLA. Clerical assistance for the vicar 2,844 2,780 The fi￿dS have been invested in the CCLA Church Board of Finance Church of England Investment Fund Income Shares. This fund is included within the figures in notes 8 and 12 for Endowment Funds. Sale of Thorndales 364,497 356.341 The funds have been invested in the CCLA Church Board of Finance Church of England Investment Fund Income Shares. Income is accounted for in Christ Church's accounts as follows: 2024 2023 Parish hall loan repaid The Diocese transfer interest due on the amount of loan repaid to the PCC. Interest is credited to Building Trust Fund 1,085 915 Clerical assistance for the vicar 77 Dividend income is credited to the General Fund. 76 Sale of Thorndales Dividend incoFne is credited to the General Fund. 9,892 9,740 NOTE 15. CCLA CBF Church of England Deposit Aceount The PCC approved thc opening of this accvunt to obtain a better ratc of interest and £60,000 was transferred. The transfer was too late for any interesl to be credited to th¢ account in 2024 Page 21