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 for the year ended 31[st] December 2023** ## **Chair 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 Charity Number: 1171387** ## **THE CHURCHES OF ST MARY & ST LAWRENCE, GREAT WALTHAM AND ST JOHN THE EVANGELIST, FORD END ANNUAL REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31ST DECEMBER 2023** ## **Administrative Information** The church of St Mary & St Lawrence is situated in Great Waltham and the church of St John the Evangelist is situated in Ford End. They are both in the Parish of Great Waltham with Ford End which is part of the Diocese of Chelmsford within the Church of England. For administrative purposes, the Parish sits within the Episcopal Area of Bradwell and forms part of the Deanery of Chelmsford. In 2017, the parish joined 7 other parishes in the area to become the North Chelmsford Mission and Ministry Partnership (NCMMP). The parish was interregnum (without a priest in charge) for the period November 2019 until November 2022 when a new Priest in charge, Revd Dan Pierce, was appointed. The Parochial Church Council (PCC) is a charity that is registered with the Charity Commission (Charity Number 1171387). PCC members who have served since the Annual Parochial Church Meeting in April 2023 are: Chair of the PCC Revd Dan Pierce **PCC Lay Representatives** Deputy Chair of the PCC Roger Bearman Representatives on Roger Bearman Roger Bearman* the Deanery Synod Sarah Matthews Jean Blaber* David Tyler Church Wardens: Andrew Reid* Great Waltham David Williams Helen Powell* Jean Blaber Sheila Bearman* Ford End Sheila Bearman Jo Pritchard* David Williams* Sarah Matthews Treasurer Andrew Reid Hywel Jones David Scully Kerrie Wiffen Pauline Briggs (April - Nov) Gift Aid Officer Sheila Bearman **NCMMP Representatives** Secretary to the PCC Alison Bates (non-PCC Member) Roger Bearman* Sheila Bearman* David Williams* * Denotes member of Standing Committee. ## **Structure, Governance and Management** ## **Objectives and Activities** The PCC has the responsibility of co-operating with the Incumbent (or with the lay Chair of the PCC during a period of interregnum) in promoting the whole mission of the Church (pastoral, evangelistic, social and ecumenical) throughout the ecclesiastical parish. It also has maintenance responsibilities for both churches and their churchyards. 2 ## **Church Attendance and Other Matters** Our Priest in Charge the Reverend Dan Pierce is away on a three-month sabbatical. It is anticipated that he will be back in the Parish around the third week in May. In the meantime, he asked me, as the deputy chair of the PCC, to compile a short report on the proceedings and progress we have made within our Parish, our wider Church Group and the Community in 2023. When Dan first arrived in November 2022, he said he did not intend to change a great deal for several months until he took stock of what we were doing, where we were heading and where he thought improvements could and should be introduced. It did not take him long to ring in the changes - our Church Group of three Parishes plus St Francis at Beaulieu was renamed “Gracefields” – we now all meet and worship together in Great Waltham on the first Sunday of each month – as far as human resources allow we have an established pattern of worship throughout “Gracefields” which has been accepted by most of us. We reached out to our communities by re-commencing many special services, for example: Time to Remember, Christingle and Crib Services. We have also re-connected with our schools and communities with the Pop-up shop, the Art show, a superb Christmas Fair/Christmas Tree Festival and the Waltham Singers 50th.Anniversary Concert. Of course, all of this does not just happen. I am sure Dan will be the first to admit that. He will wish me to thank on his behalf all the support he has received from his three churchwardens Jean, David & Sheila, assisted by the other members of the Standing Committee Helen and Andrew, a huge thank you to Alison and all the members of the PCC and all those in both our churches who help prepare them for services, those who welcome the congregations coming through our doors, those who provide refreshments and those who tend the churchyards. If there is anyone left not thanked then thank you for attending our services and supporting Dan in this, the most important way. Roger Bearman - 8 April 2024 3 ## **Financial Review** The PCC remains grateful that the level of Giving remains resilient. There was a 12% decline in income from donors during the year, but the level was only 3% below the pre-pandemic (2019) level. The level of Giving needs to be an area of focus for 2024 and future years. Fees for weddings and funerals were only 60% of the levels seen in 2022 where there had been a "surge" because weddings had been deferred during the pandemic. Church lettings increased 50% from 2022 but still remain 50% of the level seen in 2019. Unrestricted Funds expenditure remained broadly flat to 2022 with the exception of Parish Share which was 12% lower than 2022. The PCC authorised £30,085 (£34,000 in 2022) to be paid to the Diocese as a contribution to the Parish Share, against a net share assessment of £33,000. Had the PCC authorised payment of the full Share, Unrestricted Fund would have decreased by £1,715 (2022 £1,680) during the year, however as a result of the underpayment the Unrestricted Fund increased by £1,020 (see page 6). The 2023 Share assessment, set by the NCMMP, has increased slightly to £34,000. The PCC is comitted to meet this Share assesssment in full but still sets a prudent policy to build Unrestricted Reserves to at least £12,500 and a target of £15,000. |2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010|Deficit on normal activities
(£1,715)
(£1,680)
(£12,052)
(£16,819)
(£7,232)
(£2,808)
(£1,671)
(£3,872)
(£2,023)
(£3,673)
(£12,007)
(£6,577)
(£3,569)
(£7,439)
Assuming full Parish Share paid
Assuming full Parish Share paid
Assuming full Parish Share paid
Assuming full Parish Share paid
Assuming full Parish Share paid| |---|---| The market value of the Great Waltham Chancel Fund investments increased by £7,658 in the year to 31 December 2023, as stock markets increased. Dividends and interest during the year amounted to £2,869 (2022: £2,728). This income was offset by £2,012 expenditure on insurance premium and £12,562 expenditure at Great Waltham. (For an explanation of the origin of the Chancel Fund, please see the Appendix.) 4 ## **Independent Examiner’s Report to the Parochial Church Council of the Parish of Great Waltham with Ford End (the PCC)** I report to the PCC on my examination of the PCC Accounts for the year ended 31[st] December 2023, which are set out on pages 6 to 12. ## **Respective responsibilities of the PCC and the Independent Examiner** The PCC are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act') I report in respect of my examination of the PCC's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent Examiner’s Statement** I have completed my examination. I confirm no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - (1) accounting records were not kept in respect of the PCC as required by section 130 of the Act; or - (2) the accounts do not accord with those records. I have no concerns and have come across no other matters in connection 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 responsibility to anyone other than the PCC, as a body, for this report or for the opinions I have formed. Signed ................................................................... Rupert Watson – Independent Examiner Date ...................................................................... 5 ## **GREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** ||||||**TOTAL**|TOTAL| |---|---|---|---|---|---|---| |||Unrestricted|Restricted|Endowment|**FUNDS**|FUNDS| ||Notes|Funds|Funds|Funds|**2023**|2022| |||£|£|£|**£**|£| |**Incoming resources**||||||| |_Incoming resources from donors_|2a|49,182|5,629||**54,811**|56,087| |_Other voluntary incoming resources_|2b|3,392|9,762||**13,154**|3,480| |_Activities for generating funds_|2c|3,139|175||**3,314**|1,846| |_Other ordinary incoming resources_|2d|4,850|||**4,850**|8,272| |_Income from investments_|2e|178||2,869|**3,047**|2,737| |**Total incoming resources**||60,740|15,566|2,869|**79,176**|72,423| |**Resources expended**||||||| |_Activities directly related to the work of the churches_|3a|59,177|11,587|14,574|**85,338**|69,474| |_Grants_|3b|543|||**543**|40| |**Total resources expended**||59,720|11,587|14,574|**85,881**|69,514| |**Net incoming/(outgoing) resources**||1,020|3,979|(11,705)|**(6,706)**|2,909| |Gains/(losses) on investment assets||||7,658|**7,658**|(10,712)| |**Net movement in funds**||1,020|3,979|(4,047)|952|(7,803)| |Total funds brought forward at 1 January||14,160|8,995|104,069|**127,223**|**135,026**| |**Total funds carried forward at 31 December**||15,180|12,974|100,022|**128,176**|127,223| 6 ## **GREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL** ## **BALANCE SHEET AT 31 DECEMBER 2023** |Notes
**Investments**
CBF Investment Fund Shares
3,908.29 shares at market value
7(c)
**Current assets**
Debtors
5
Cash at bank and in hand
Cash in hand (Bell Ringers)
Cash at Barclays Bank
Chancel Fund (CBF deposit fund)
7(c)
Creditors: amounts falling due within one year
6
**Net current assets**
**NET ASSETS**
**Funds**
**Endowment funds**
7
**Restricted funds**
7
**Unrestricted funds**
7|**39**
**29,426**
**12,586**
**42,051**|**2023**
£
**88,348**
**1,106**
**43,157**
**(3,330)**
**39,828**
**128,176**
**100,022**
**12,974**
**15,180**
**128,176**|2022
£
**80,690**
1,804
39
21,992
23,379
45,409
47,213
(679)
46,534
127,223
104,069
8,995
14,160
127,223| |---|---|---|---| Approved by the Parochial Church Council on ……………………………………………………… and signed on its behalf by: …………………………………………. ………………………………… Roger Bearman Andrew Reid Depty Chair of the PCC Treasurer The accompanying notes on pages 8 to 12 form part of these financial statements. 7 ## **GREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023** ## **1 Accounting Policies** The financial statements of the PCC have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charities SORP 2005 (Statement of Recommended Practice). The financial statements have been prepared under the historical cost convention and include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body, nor those that are informal gatherings of church members. ## **Funds:** _**Endowment Funds**_ are funds, the capital of which must be maintained; only the income aring from the endowment maybe used, either as restricted or unrestricted income, depending uopon the purpose for which the endowment was established. _**Restricted Funds**_ comprise (a) income from trusts or endowments which may be expended only on those restricted objects provided for in the terms of the endowment or bequest, and (b) donations or grants received for a specific object or invited by the PCC for a specific object. Such funds may be expended only on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance in that fund. The PCC does not usually invest separately for each fund. _**Unrestricted Funds**_ are the funds of the PCC that are not subject to any special restrictions regarding their use and which are available for application to the general purposes of the PCC. ## **Incoming Resources** Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resources to which they relate are received. Grants and legacies are accounted for when the PCC is legally entitled to the amount due. All other income is recognised when it is receivable. All incoming resources are accounted for gross of any related expenditure. ## **Resources Used** Grants and donations are accounted for when paid over, or when awarded if that award creates a binding obligation on the PCC. The Parish Share (payable to the Diocese in respect of clergy stipends, pensions and housing) is accounted for when paid or accrued for if necessary. All other expenditure is generally recognised when it is incurred and is accounted for gross but sometimes net profits from fund raising activities are received. ## **Fixed Assets** Consecrated and beneficed property is excluded from the Accounts by Section 96(2)(a) of the Charities Act 1993. Movable church furnishings held by the Churchwardens on special trust for the PCC and which require a Faculty for disposal are inalienable property. For anything acquired prior to 2000 there is insufficient cost information available and, therefore, such assets are not valued in the financial statements. Subsequently, no individual item purchased from unrestricted funds has cost more than £1,000 so all such expenditure has been written-off when incurred. ## **Investments** Investments are shown at market value at the year end date. Any increase or decrease in value is recognised through income / expense through the endowment funds. 8 ## **GREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** |**2**
**Incoming resources**
**a**
_Incoming resources from donors_
Planned Giving
Direct to bank by Standing Order
Envelope Scheme
Collections at all services
Sundry donations and appeals
Gift Aid tax recoverable for the year
**b**
_Other voluntary incoming resources_
Grants
**c**
_Activities for generating funds_
Fetes, bazaars and other fund-raising events
Other funds generated
**d**
_Other ordinary incoming resources_
Wedding, Funeral and Memorial Fees
Lettings of Church & Community Room
**e**
_Income from investments_
Dividends received
Interest income
**Total incoming resources**|**TOTAL**
TOTAL
Unrestricted
Restricted
Endowment
**FUNDS**
FUNDS
Funds
Funds
Funds
**2023**
2022
£
£
£
**£**
£
33,179
**33,179**
26,759
7,598
5,378
**5,378**
7,021
1,330
5,451
**6,781**
3,877
9,295
178
**9,472**
10,833
49,182
5,629
**54,811**
56,087
3,392
9,762
**13,154**
**3,480**
3,392
9,762
**13,154**
3,480
3,139
**3,139**
1,846
175
**175**
3,139
175
**3,314**
1,846
2,908
**2,908**
6,982
1,942
**1,942**
1,290
4,850
**4,850**
8,272
2,869
**2,869**
2,402
178
**178**
335
178
2,869
**3,047**
2,737
60,740
15,566
2,869
**79,176**
72,423| |---|---| 9 ## **GREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **3 Resources expended** |**a**
_Activities directly related to the work of the churches_
Parish Share (Diocesan Quota)
Clergy expenses
Organists' fees
Churches insurance
Churches running expenses & administration
Churches fabric & maintenance
Churches utilities
Churchyards maintenance
**b**
_Grants_
External Giving
**Total resources expended**|**TOTAL**
TOTAL
Unrestricted
Restricted
Endowment
**FUNDS**
FUNDS
Funds
Funds
Funds
**2023**
2022
£
£
£
**£**
£
30,084
**30,084**
34,000
42
**42**
482
1,320
**1,320**
1,750
5,558
2,012
**7,570**
7,173
10,186
3
**10,190**
11,899
4,027
11,650
**15,677**
7,938
7,051
**7,051**
4,576
907
11,584
912
**13,403**
1,656
59,177
11,587
14,574
**85,338**
69,474
543
**543**
40
543
**543**
40
59,720
11,587
14,574
**85,881**
69,514| |---|---| 10 ## **GREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **4 Staff costs** ## **a** _Wages and salaries_ During the year the PCC made payments to part-time organists and vergers, none of which were large enough to attract Social Security Costs. The PCC shares the services of an administrator with two other 2 parishes and contributes its share of the costs. The administrator is employed by The Chignals with Mashbury PCC. This cost is included within the "Churches running expenses and administration cost". ## _Payments to PCC members_ There were no other disclosable transactions in respect of PCC members, nor persons closely connected to them, nor other related parties. ## **5 Debtors** |Gift Aid Recovery
Other debtors|**2023**
2022
**£**
£
**790**
1,804
**316**
**1,106**
1,804| |---|---| ## **6 Creditors: amounts falling due within one year** |CDBF Fees
Clergy expenses
Other creditors|**2023**
2022
**£**
£
**1,422**
107
**1,908**
571
**3,330**
679| |---|---| 11 ## **GREAT WALTHAM with FORD END PAROCHIAL CHURCH COUNCIL** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **7 Statement of funds** |**Unrestricted Funds**
General fund
**Restricted Funds**
Great Waltham Churchyard
Passion Play
Choir
Godly Play
Ford End Clock
Ford End Organ Fund
Great Waltham Organ Fund
Staging_(see note (a) below)_
**Endowment Funds**
Chancel Fund_(see note (b) below)_
**Total Funds**|Bal b/fwd
Income
Expenditure
Gain / (Loss)
**Bal c/fwd**
1 Jan 2023
on revaluation
**31 Dec 2023**
£
£
£
£
**£**
14,160
60,740
(59,720)
**15,180**
14,160
60,740
(59,720)
**15,180**
1,822
9,762
(11,584)
**(0)**
993
**993**
530
60
**590**
1,947
**1,947**
1,006
**1,006**
**0**
2,026
5,744
(3)
**7,766**
671
**671**
8,995.03
15,566
(11,587)
**12,974**
104,069
2,869
(14,574)
7,658
**100,022**
104,069
2,869
(14,574)
7,658
**100,022**
127,223
79,176
(85,881)
7,658
**128,176**| |---|---| (a) The staging was funded by a variety of local organisations in 2015 and is intended to be used by all of these groups. The balance on the fund is intended to be used for maintenance of the staging. (b) A Chancel Fund, administered by the Chelmsford Diocesan Board of Finance as Custodian Trustees, exists for the benefit of St Mary & St Lawrence, Great Waltham. The Chancel Fund comprises (i) an investment of 3,908.29 CBF Income Shares (ISIN GB0001830420) valued at £88,348 as at 31 December 2023 (£80,690 as at 31 December 2022) and (ii) £12,586 held in a CBF deposit account (£23,379 as at 31 December 2022), which represents the accumulated income on the investment. Although the PCC are 'Managing Trustees', the law requires all funds to be included in the PCC accounts. The PCC is able to claim against the accumulated income for one third of the insurance premium relating to the Great Waltham Church and certain maintenance and repairs to the Great Waltham Chancel, Church and Churchyard. Please refer to the Appendix where a further description and the history of the Chancel Fund is given. 12 ## **Appendix** ## **Chancel Fund** The Chancel Fund is an Endowment Fund held by the Chelmsford Diocesan Board of Finance as Custodian Trustees. It was established for the upkeep and repair of the Chancel of the Church of St 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 why it exists, and where the money came from, it is necessary to look at the historical development of the Church of England. Chancel repair liability has its roots in medieval times when every Church had its own priest or Rector. By virtue of his status, the Rector was entitled to income, known as Tithes, from land in the Parish, known as Glebe land. From this income, the Rector traditionally maintained the Chancel, whilst the Parishioners were responsible for the Nave. In those 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 right of patronage was separately held. In the case of Great Waltham the Chancel repair liability lay with the Patron and the Patron was not a local landowner but Trinity College, Oxford. In 1979 the College, as Patron, decided that it would ‘redeem’ its liability by payment of a capital sum of money and this was the source of the present Chancel Fund. 13