The Churches of St Mary & St Lawrence, Great Waltham and St John the Evangelist, Ford End in the Parish of Great Waltham with Ford End Annual Report and Financial Statements of the Parochial Church Council 5t for the year ended 31 December 2022 Chalr of the Parochial Church Council Revd Dan Pierce 2 Fairway Drive Beaulieu Chelmsford Essex CM3 3FH Bank: Barclays Bank plc Independent Examiner: Rupert Watson Registered Charlty Number: 1171387 THE CHURCHES OF ST MARY & ST LAlhRENCE, GREAT WALTHAM AND ST JOHN THE EVANGELIST, FORD END ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31ST DECEMBER 2022 Adrnini8tratfjve Infom)atron The church of Sl Mary & St Lawren¢e is sitU8ted in Great WaFtham and the church of St John t*)e EvarvJelist is slluated in Ford End. They are both In the Parish of Great Waltham with Ford End which is part of the Di0￿Se of Chelmsford within the Church of England. Fcr adminislrative purposes, the Pansh sits wthin the Episcopal Are8 of Bradwell and forms part of the Daanery of Chefmsford. The parish w88 Interregnum Iwilhout a prtest in charge) unb"124 Novemb812022. In 2017. the parish i￿ned 7 olhgr parishes In ine area to become the North Chelmsford Mission and Ministry Partnership INCMMPI. The Parochial Church Council IPCCI is a charify that 1$ reoi5tered wth the Charty Cornrni55ion Icharity Numbèr 11713871. PCC member5 who hav8 served sincg the Annual Parwhial Church Meetiry in May 2022 are.. Chair of the PCC Revd Dan Pier￿ lfrorn 24 Novl Roger BÈarm3n lunts'l 24 Novl Roger BÈaiman Sarah Matthews PC¢ Lay Rap￿entalrve8 Repro59ntativ8s on the Dfranery Synod Roger Beaman. Phil Lille David Ty16r Andrew Reid. Helen Powell. Sheila Bearman" Jo Pntehard" David Williams, Sarah Matlhwws Hywel Jones David Scully Churth Wardens.. Great Waltham Jo Pritchard Dovid Williams Sheila Bearman Fud End Treasurer Andrew Reid Gift Offror Sheila Bearman NGMMP Rep￿sentatiVeS Secratsry to the PCC i8on Bales Inon-PC¢ Memberl Roger Bearman" Sheila Bearman. Damd Williams. Structuro, GovÈrnan¢6 and Managomènt Denotes rnernber of Stsnding Gommittee. Objectlves and ActlvF¢I98 Th6 PCC has the responsibilty of co-operating with tho Incumbent lorwith the lay Chair of the PCC dunng a period of interro9numl in prLYnOting the whole miss￿n of the Church (pastoral. evangelistic, social and e¢urnenicall throughout the ecdesia$ti¢al parish. It abo has rnainlenano respon51bilits.es loi both churches th6irthurd)yards. Church Attendancè and Othèr Platt•rn During th* year 2022 we iryan to return to somethirvJ d08er to normalty 8tthough rematiiing in interregnum. We continued hoKin9 our Sunttay Ser￿￿S alternatNely in Ford End and Great Waltham and it Is now a well established pattem of worship. We acknowledge tt)6 help from NCMMP clergy, espeually Rev Carolyn Tibbot, Rev. Susan Iskandsr, Rev Sandra Sykes. and Rev. Dawn 8utcher all of whom led us through our inleryegnum services. We introduced a regular monthly Famity servi￿ at Ford End ￿ by Hywd Jones whi¢h continue to prove very popular. W• welcomed Re¥ Dan Pier￿ as Priest in Charge of our Parish and his famity in Novarnber 2022. Vvg look forward to woH(ing with h#n hading u8 and th• our wkler group of Parishes in the fvture. Sinc6r8 thanks to our three Churchwardens. Dawd Williarns. Jo Prit¢hard and Sheita Bearman all of whom h8ve put in a great deal of time and èffort keeping our churth buiklings aTrd Servi￿ on track. Sitnilafly thanks to the PCC membèrs and all th• other memb6r3 of our community who quiedy catry out variou$ duties. Vve raalty 8pprecFate your contributlQn8. Roger Bearman (Chair PCCI Financlal Rttvlow Th8 PCC Is grateful that the18vel of invoa88d #uring ￿ year. Thk8 W88 piirttcularly pleasing with Ihtr Parrsh balng interregnum for the majority of the year and #geinst the bacadrop ol the cost of living cri$i6. Planned Gmng. either wa bank stsnding order or vig Ihg envelopg scheme. increased by 4% cornparefj lo 2021 and was ￿tored, arKJ mote, to the p￿•Pand8rn level* More over. co1￿ction6 at 88rv11*6 and Sundry donation$ inGre85eO over 80% from 2021 lev81s. Feès forwe(Jding5 and funerals romained rela1r￿￿ llat. but it sh£MJld be noted thers Wds a'Surge" rn 2021 b8C8use wEdding$ had been d6farr* from t￿ wor year. Church lettin9s decrea￿d a disappointing 25% from 2021 rema¢n at ￿58 that 40% of the level seen in 2019. There w85 a sKJnfficant inuèasè in Unr88tricted Funds expenditure as an areas of the Church fully wpen8d afterthe pandemic ar¥J mainlÈnanco proieels that had been deferred wero implernented. We abo 58w an expected 70% increase in costs for utilities Uivon the general increa59s and we axpect this to Con￿￿6 in 2023. Tho PCC authorised £34.0001£30,000 in 20211 to be PaKI lo the Diocese a5 a contrfbutiDll to the Parish Share, against a net share 8s88ssmenl l9ftor fae credits and vacancy creditl of £39.136. Had the PCC 8ylhorise(J payrnenl of Ihe full Sharè Unrestrictéd Fund wouw have decreased by £1.G80 durin9 2022, however a5 a resijli of th8 underpaymanl the Unrèstrided Fund in¢reased by £3,4561888 pa9e 61. The 2023 Share assessment, set by the NCMMP. has decreased markdly to £33,000 with no vae3ncy creditfolbvAng 8Xtensive dK5CUS8ions between the PCC and NCMMP. The PCC is on track to m88t this Share assesssment ￿ full whik stil main18ining a prL¥Jènt reserves policy and aiming for a rninimum Un￿triCtEd Ftjnd of £12,500 and a taryel of £15,000. Ic*t on nomial 8CtFviti 1£1.6801 Assumiry fvll Parish Share paid 1£12,0521 Assuming full Parish Share paid 1£16,8191 Assuming lull PaThsh Share paid I£T.2321 A4suming full Parish Share paid 1£2,8081 1£1,6711 1£3.8721 1£2.0231 1£3,6731 1£12,0071 1£8.577) 1£3,$691 1£7.4391 The rnark8t value cfthe Great Watham Chancel Fund investmonts decreasèd by £10,712 in the year b 31 D6cemtrEr 2022 a$ stock rnarkets decreased and reversing the gains of 2021. ONidend8 and interest during the year arnounted to £2,72812021.. £2,335). This income wa5 offset by £1,891 expenditure on in5ur8nc8 prémium and £1.263 ewndiiure at Great Waltham. IFor 3n e¥planats"on of th8 orfgln of Ihe Chancel Fund, pl8ase see th• AppeThJ￿1 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 Independent Examinerfs Report to the Parothial Church Counc51 of the Parish ol Great Waftham wlth Ford End (the PCCI I report to the PCC on my examination of the PCC Accounts for the year ended 31° December 2022, whlch are Set out on pages 6 to 12. R8spectlve responsibilities ol the PCC and the Independent Examlner The PCC are ￿5￿OnSIble for Ihe preparation of the accounts in accordance with the requirements of the Ch3rities Act 2011 I'the Art'l I report in respect of my examination of the PCC'S accounts carried out under sectlon 145 of the 2011 Act and in carrying out my examination I have followed all applicabje Directions glven by the Charity Commission under section 1451Sllbl of the Act. Independent Examlnerfs Statement I have completed my examination. I confirm no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respecL' 111 accounting records were not kept in respect of the PCC as required by section 130 of the ACL. or 121 the accounts do not accord with those records. I have no concerns ènd have come a¢r0$5 no other rnatters in connertion with the examinaton to which attention should be drawn in this respect in order to enable a proper understanding of the accounts to be reached. To the fullest extent permitted by law, I do not accept or assume responsibillty to anyone other than the PCC, as a body. for thi5 report or for the opinions I have formed. Signed Rupert Watson- Independent Examiner fjREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 TOTAL Unrestricted Restricted Endowmènt FUNDS Funds Funds Funds 2022 TOTAL FUNDS 2021 Notes Incoming resource$ Incomift)g r&sourc•s frtim dono Othw volunt8ry incoming resources Actiwties forgengrab.ng funds othorordirJ8ryin¢oming r¢sources Income from investments 55,887 3,480 1,848 8,272 200 56,Q87 3,480 1,846 8,272 2,737 48,481 2b 1,095 8,118 2,336 2d 2e 2,728 Total Trn¢omlng resour¢e¥ 69,495 2(Xl 2.728 72,423 60,030 Resourc88 ¢XP8ndod Achwties di￿NY ￿lated lo Ihe wort of Ihe churches 3a Grants 3b 65,999 321 3.154 69A74 40 55,449 40 Total resource5 expendèd eA,039 321 3.154 69,514 55.489 Nèt In¢omlnglloutyolng) resources 11211 14261 2,909 4,541 Gainslllossesl on investment assets 110.7121 {10,7121 11,331 Net movement in funds 3,456 11211 111,13n 17.8031 15.872 Total fLJnds brought forward at 1 January 10,704 9.116 115.208 135,026 119.164 Total funds ¢arrled forward at 31 Decgmber 14,160 8.995 104.069 135,026 GREATWALTHAM wf(h FORD END PAROCHIAL CHURCH COUNaL BALANCE SHEET AT 31 DECEMBER 2022 Note8 2022 2021 CBF Invfjstrnent Fund Sha￿$ 3.908.29 shares at maiket value Tlcl 80.690 91.402 Currgnt assets Debtors Cash at bank and in hand Cash in hand (Bell Ringérs) Cash al Barclays Bank Chancsl Fund ICBF deposit fiJndl 1,804 1,759 39 21,992 23,379 4S,409 39 16,896 25.588 42.521 71cl 47,213 44.280 C￿dItors.. amounts falllng due within one year 16791 16561 Net current assets 46,534 43.$24 NET ASSETS 135,026 Funds Endowm¢nt fund$ 104.069 115.206 Restrfcted funds 8,9 9.116 Unr8Strlct•il funds 14,160 10,704 127.224 135,026 Approved by the PaTochial Church Gouncm on and svJned on its bèh8Wby'. R8vd Dan Pier Chaiman of the PCC Andre Rekj Treasurer The accompanwng notes on pagès 8 10 72 form partof Ihe5efinanci81 ststemènls. GftEATWALIHAM t4th FORDENDPAROCHIALCHiIR(N e(KIKIL NOTESYO THE Fifw4(uLsfAIEMÉNT5 forthe yeaYer*led31 D￿eJ￿r2022 Tlp fiDanthèl statements of the PCC have beeTr prepared In 3£tordan￿ wllh thè Church Atcountine Retulètion5 to8ether wkhapplicable accountinzsiandardsand the cha11t￿$ SORP 2￿5 Istatsmem of Recommended PrJrtwi. The firFandal statements have beèn wepared under th• hlttorital ust cOn￿t￿n and indude all tran5JCtlons, asspts liabilllies for whlch the PCC ￿ responsiblè in law. ThEy do n¢t includ2 the a¢ctsunt5 of Church 6roup5 that Otrle t￿r affilia￿0￿ to anotherbody, northosethatare Inform￿ 8atherSw of Memb￿￿. Funds.. Fndowfftknt Funds are funds the caphal of ¥vhlch must be fflalntalned., only the incynpr￿e lal inwme from trusts or sndowments which tTray bÈ EKpended onty on those ￿St￿Cted obletts provided for the twms of the endowment or be4ue5¢ and Ibl donatSon5 or yahts rece￿*￿f￿ra spwfic obiett or Snvlted by thè PCC for a specth¢ Obje￿ Such Fund5 may be *pended only on th@spec￿C obJertfor 4*hiihiheywere given. Any balance remairt1￿ Unspent atthe end of eath yE6r must betstried forward as a balante In that fund. The PCCdDÈ5 not U5uallyinve sÈp?ratelyfar eath fund. vi￿est¥l¢ted Funds are the fvnds of the PCC th3t aré ftot 5ubJstttoany spock41 lestr￿onS Te4ar&w th￿ir use whlch are avallable for appliotion tothe8enera4 pvrpD5esof PCC. Incornkni Re￿]￿ Planned collettvns ond donatlons afe reco8nL%ed when re¢•ved. Tax are rec08n￿ed whèn the Incomlng resotsrtrs tD whlch they rdatè are fe(d¥Èd. Grants and le8acles are affounted for when thè PCC is legally entitled to t amount due. All other income 15 recognlsèd when It is rKev4￿è. incomin¥ resources a￿ ?CCOuntÈd for gross of any reLited Expendkure. Re50urw Used Grnnts and donatloFbS arp xcounted for when twer. or when awar6ed If Ihat award cr*tes a blnolng obligation on the PCC. The Parish share Iwable to the DI0￿Se in rEspeit of deryyMipenJs. perk5k)ns and housin￿ is accounted for when paid or accruEd for1f rte[e5￿ry. other eXper￿tture is geoerdlly recogni5ed when it 15 Incurred and Is ac¢ounte(I for Eross but 50rneiimes netprofffsfromfund rathadwiries arerecéw. Con5ecr3tÉd #nd beThefil￿ propÈrty * exclurled frofft Accounts by Section 9612llal of thp Charitiè5 1993. Movable church furni5hin8s hÈld by the churChw¥de￿ on sttcial trust fvr the PCC and whlch rèquire è Fatuty foi disposal a inal￿nabl@ propeity- For anything acquired prlor to 20CQ ther£ ig I￿Uffic5•rnt eost Inf0m￿lon avail8ble ?nd. theiefore, Such assetsare not¥aluEd In the financ￿1 st3temeTrts. Sub5equentlyi no indiwdual item purchased from unrestritted funth hè5 CQSt rnorEthan £l.(l)Oso allsuthexpehditure bEenwrthn-off when In¥estmeTrts are shown at markètvalue atthe year end d*e. Any inrxwase or d8￿e￿ in vdve 55 rec08n￿ed throv6h InEome/ xpehsethrou£hthe èndowmehtfunds GREAT YIALTHAM wlth FORO END PAROCHIAL CHURCH COUNCIL NOTES ro THE FINANCIAL STATEMENTS Icontlnuad) FOR THE YEAR ENDED 31 DECEMBER 2022 2 Incomlng re8011r¢e8 TOTAL Unrestricted Rastrthd Endtswm8nt FVNDS Funds Funds Funds 2Q22 TOTAL FUNDS 2021 lrteoming ￿$OurCeS from donors Flanned Giving Direct to bank by Stsnding Order Envelope Schen CollecNons at all se[vi(￿S Sundry donations and app8al$ Gift Aid tax reeoverable forthe year 26.759 7,598 7,021 3.677 10.833 55,887 26,769 7,698 7,021 3,877 26,683 6.327 4,422 2,317 2CN) 2(K) $6.087 48.481 b Oth8rvoluntaryincomirwresourcgs Grants 3A80 3.480 3,480 Acfivilios forgenerating fvnds Fetes, bazaar¥ and olherfiJnd•ising ev¢nts Other funds generateil 1,846 1.035 60 1,095 1.846 d Otherordinaryinctsming Trsources Vvedding, Funeral and Memorial Fees Leltings of Church & Community Room 6.982 1,290 6,982 1,290 8.2T2 6,398 1,720 Income fyvm investmwJl6 Dividends re￿1¥e￿ Interest income 2,402 326 2.728 2.402 336 2.323 2,336 Total Incomlng resource8 69,495 200 72 23 60,030 GREAT WALTHAM wtth FORD END PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS Icontlnu*dl FOR THE YEAR ENDED 31 DECEMBER 2021 3 Resources oxpendad TOTAL Unrestricted Resiricted Endowment FUNDS Funds Funds Funds 2022 TOTAL FUNDS 2021 AchVil￿$ dAr&¢Uyr8latsd to th8 woth olthe church&s P8rish Share IDioc8S8n Quotsl Clergy expenses Organists, f•8s Churches insurance Churches running expenses & administration Churches fabric & maintenanc8 Churfjhes uJlthes Churchyards rnainlenance 34.000 482 1.750 5,282 11,576 7,140 4,576 1.191 34,000 482 1,750 7,173 11,899 7,938 4,676 1,¢56 30,000 774 1,140 6,972 8.152 3.885 2,720 1,806 1.891 321 798 85,999 321 3,154 55.449 Gonts External Giving- Historic Churches Trust 40 40 40 40 Totsl resources expended 66,039 321 3,154 69,514 55,489 10 GREAT WALTHAM wlth FORD END PAROCHIAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS lcontinuedl FOR THE YEAR ENDED 31 DECEMBER 2022 4 Staff Go$ts W8g8s and $81a17e$ During the year the PCC rnade payments to part-time organiyls and verg8rs, none of which were large enough lo attract Social Security Costs. The PCC shar&s th8 services of an administrator with two other 2 parishe5 and contribut8S its share of the costs. The adrtlinistrator Is efflployed by The Chlgnals wrth Mashbury PCC. This cost is included within the"Churches running expenses and adminislrat*on (x)st" Payments to PCC n￿Mbe There were no olhef disctosable transacttons in respè¢t of PCC members, nor persons ctosely connecle¢J lo them, nor othw Telated parties. 5 Debtors 2022 2021 Gift Aid R8covery Prepayment tsf Administration Expenses 1.804 1,759 1,804 1,759 6 Creditors: amounts falling du• withln one y•ar 2022 2021 CDBF Fees Clergy expenses Othér crèditors 107 14 263 378 656 571 679 11 GREATWALTHAM wlth FORD END PAROCHiAL CHURCH COUNCIL NOTES TO THE FINANCIAL STATEMENTS IconUnu8dl FOR THE YUR ENDED 31 DECEMBER 2022 7 Statement of lund5 Income EXpand￿j[e Galn i ILos51 on revaluation Bal clhvd 31 Dec 2022 1 Jan 2022 Unr•strlctod Fund8 G8neral fund 10.703.58 69.495 166.0391 14.160 10.704 69.495 66.039 14,160 Rèytrictèd Fund$ G￿&twaI1haM Churchyard Passion Play Choir Godly FY8y Ford End Clod Ford End Organ Fund Gie81 Wallham Organ Fund sta91￿ ($66 note la) btrltrwj 1.822 993 330 1.947 1.006 51 2.296 871 1,822 993 530 1,947 1,006 200 12701 2,026 671 9.116 200 321 8.995 ETrdowtnpnt Fund8 Chan￿1 Fund (see {￿te (b) beknvl 115.206 1728 13.1541 110,7121 104.089 115.206 2,728 3.154 10.712 104069 Total Futlds 135,02S 72.423 69.514 10,712 f27.224 (al The staging was fuThJed by a variety of loc￿ organisalions in 2015 and is inl8ndÈd to be used by 811 ofthese groups. The balance on th8 fund Is intended lo ￿ used for Maintenan￿ ofthp staging. Ibl A Charteel Fund, ad￿￿nIstered tythe Chekn¥for(l DlfKesan Board of Finance as Cusiodlan TEwiees. e￿sts forthe benefit of St Mary & Si Lavttor￿, &eAI Wattham. The Chancel Fund comprjse5 Ir) an InvestrrEnt of 3,W8.29 CBF IrKome Share5 IISIN GB00018304201 valued al £80.690 as *131 December2021 le91,402 as at 31 DeTrmDaf 20211 lill 123.379 held in a CBF deposll a￿OUnt{g2S.S86 as at 31 Oe¢*mber 20211. thich *presents the accumulaterj income on the iTrvesimeni. Wihough Ihe PCC a￿'managing TruslÈes', the law requirots all funds to be iftdudèd in the PCC accounts_ The PCC is able 10 daim against tre accumulaie(J incorne for one IIHrd of the inguranre preMI￿Th relating 10 the G*ai Wallham Chwth and certakn [n#n1enan￿ and repalrs to the Greatwattharn Chartel. Church and ctrK1rty￿. Please referto AppendLK ￿ere 8 Ajnher (*SCriptiL￿ and the history oflhe Chancel FuThJ is gNen. Appendix Chancel Fund The Chancel Fund is an Endowment Fund held by th8 Chelmsford Diocesan Board of Fin8nce as Custodian Trustees. It was established for the upkeep and repair of the Chan￿1 of the Church of Sl Mary & St Lawrence. Great Waltham and the accumulated income arising from the investment can be used for repairs and maintenance of the Chancel, the Church and the Churchyard. To understand why11 &Xi8ts, and where the money came f￿rn, il is nece88ary to look at the historical development of the Church of England. Chanol repair liabilty has its roots in medieval times when every Church had its own priest or Rector. By virtue of his status. the Rector was enbtled to income, known as Ttthes, from land in the Parish, known as Glebe land. From this income, the Rector traditionalty maintained the Chancel, whilst the Parishioners were responsible for the Nave. In thoge days. most of the land was owned by the local Squire, who often also had the right of patronage. whereby he could nominate the Rector, although sometimes the rlghi of patronage was separately held. In the ¢ase of Great Wallham the Chancel repair liabilty lay with the Palron and the Palron was not a local land¢)wner bul Trinity College, Oxford. In 1979 the College, as Patron. decided that it would 'redeem' ils liability by payment of a capital sum of money and this was the source of the present Chancel Fund. 13