CHARITY REGISTRATION NUMBER: 1128003
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Annual Report and Financial Statements
31 December 2023
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Annual Report and Financial Statements
Year ended 31 December 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the annual report and financial statements | 8 |
| The following pages do not form part of the annual report and financial statements | |
| Detailed statement of financial activities | 20 |
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Trustees' Annual Report
Year ended 31 December 2023
The trustees present their report and the unaudited Annual Report and Financial Statements of the charity for the year ended 31 December 2023.
ADMINISTRATIVE INFORMATION
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Registered charity name
Charity registration number
Charity registration number 1128003 Principal office The Vicarage 12 Greenacre Wembdon Bridgwater Somerset TA6 7RD
Membership
The charity trustees are members of the PCC and are either ex officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules.
PCC members who have served since 1st January 2023 until the date this report was approved, are as follows:
Ex Officio members: Incumbent Revd Dr Ed Moll Chair Associate Minister Revd Simon Taylor Churchwarden Mr Paul Hodge Vice-chair Deputy Churchwarden Mr Keith Ballard Mt Tim Loveday until May 2023 Representatives on the Deanery Synod: Mrs Katherine Cannell Mrs Chris Hurst Mrs Sue Dempsey Elected Members: Mr Terry Ackroyd Treasurer Mrs Sue Pow Secretary Mr Graham Pow Mrs Jackie Evans Mrs Sally Ackroyd until May 2023 Mrs Coraley Dunn until May 2023 Mr Julian Cann Parish Safeguarding Officer Mr Russell Parsons Dr Andrew Douglass Mr Mark Casey from May 2023
Independent examiner
Mr John Scott 30 Durleigh Road Bridgwater Somerset TA6 7HU
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Trustees' Annual Report (continued)
Year ended 31 December 2023
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 Powers Measure. The PCC is a Registered Charity: number 1128003.
PCC members are appointed as described above and the Electoral Roll of those eligible to elect PCC members stood at 154 in May 2023.
OBJECTIVES AND ACTIVITIES
Public Benefit
Wembdon PCC has the responsibility of cooperating with the incumbent in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical, including the following activities conducted under the authority of the Church of England for the benefit of the public:
-
regular public worship open to all
-
provision of sacred space for personal prayer and contemplation
-
pastoral work, including visiting the sick and bereaved
-
teaching of Christianity through sermons, courses and small groups
-
taking of Christian assemblies in schools
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the provision of activities for senior citizens and for parents and toddlers
-
supporting other charities in the UK and overseas
Activities and Priorities
The work of the PCC is supported by that of several subgroups: Fabric, Finance, Safeguarding & Policy, the Parish Centre and Mission. These are all responsible to the PCC and report back to it regularly with minutes of their decisions being received by the full PCC and discussed as necessary.
The trustees (the PCC) confirm that they have referred to the guidance contained in the Charity Commission's General Guidance on Public Benefit when reviewing the Charity's Aims and Objectives and in planning future activities. The PCC is also specifically responsible for the maintenance of the Parish Centre opposite St George's Church, in Church Road, Wembdon. When planning the church's activities for the year, the PCC considered the need for good governance, and have sought to deploy the resources of the church to best fulfil the aims.
The Parish Safeguarding Officer, Mr Julian Cann, confirms that the Council has complied with the duty under section 5 of the 'Safeguarding and Clergy Discipline Measure, 2016' (duty to have due regards to the House of Bishops' guidance on safeguarding children and vulnerable adults - section 9.2A).
The full PCC met on 7 occasions during the year, all in person and there were 3 Standing Committee meetings, one by email and 2 by Zoom. Meetings always included prayer.
PCC meetings included regular updates on finance and the Church budget, including staffing and Parochial Fees. Updates were also received on the work with children and young people, which fed into a decision to seek to appoint a Youth Worker. Plans were shared for a Church weekend away in April 2024.
Safeguarding was a standing item with regular updates Parish Safeguarding Officer, Julian Cann. The Ministry Leadership Team appointment process was revisited and confirmed. The PCC made the Maidstone Commitments on Safer Leadership. Holy Communion arrangements were reviewed and a revised list of those able to assist was agreed.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Trustees' Annual Report (continued)
Year ended 31 December 2023
OBJECTIVES AND ACTIVITIES (continued)
Regular updates were also received on developments within the Church of England including the Living in Love and Faith process and the House of Bishops' proposals. There was a discussion following the visit by Bishop Rob Munro, Bishop of Ebbsfleet in the autumn. Other strategic Partnership agreements were renewed.
Issues relating to Health & Safety were regularly reviewed with information given by the Church Warden. Reviews on the fabric of the Church were regularly given by a member of the Church Fabric Group including giving reference to quinquennial repairs.
Other issues that were discussed throughout the year included Electoral Roll changes, regular Mission updates, Parish Centre development plans, and updates on Heart for Newtown.
The PCC Standing Committee meetings focussed on tree works to the churchyard, the purchase of tables for the toddler group, WCA access for Village Day, authorising the payment of a deposit to secure the booking at Lee Abbey and Parochial Fees.
The PCC has continued to support the teaching and pastoral ministry of the church, which it sees as the major means of equipping members for fruitful discipleship.
FINANCIAL REVIEW
Total income for the year (including donations, legacies, other income and grants towards the Parish Centre business development programme) amounted to £231,875 (2022 - £206,361)
Donations (Giving)
Total receipts of regular donations (giving) on ordinary unrestricted funds (excl. gift aid) were £86,173 in 2023, up from £81,311 in 2022. This represents an increase of 6.0%.
Grants Received
Restricted income grants by outside bodies to the Parish Centre Business Development programme, support ministry staff and churchyard amounted to £66,681.
Detail on Unrestricted Giving
Regular, planned giving by standing orders and envelopes is critical to our mission at St. Georges, making up the core of our unrestricted giving. These regular donations from our members make up more than 95% or our unrestricted income from giving.
The most important aspect of this planned regular giving is by standing order to the General Fund or through organisations such as CAF/Stewardship. This provides us with confidence that we can plan ahead to meet our commitments. We currently have 77 regular donors representing 115 members (average 1.5 members per donor) giving by this method.
Total funds raised through standing orders/Stewardship/CAF excluding envelopes were £77,880. This represents an average standing order donation of £84 per month or £1,011 for the year. Thank you to our members giving in this way. See chart below.
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| Av.per | |||||
|---|---|---|---|---|---|
| Donors € |
Total E |
Av.per | Year t |
Month t |
|
| 2015 | 60 | 42,666 | 711 | 59 | |
| 2016 | 54 | 49,468 | 916 | 76 | |
| 2017 | 51 | 51,862 | 1,017 | 85 | |
| 2018 | 60 | 57,871 | 965 | 80 | |
| 2019 | 60 | 64,275 | 1,071 | 89 | |
| 2020 | 81 | 73.864 | 912 | 76 | |
| 2021 | 81 | 82,116 | 1,014 | 85 | |
| 2022 | 79 | 75,425 | 955 | 79 | |
| 2023 | 77 | 77,880 | 1.011 | 84 |
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Statement of Financial Activities
Year ended 31 December 2023
| 2023 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | ||||
| funds | funds | funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | £ | £ | |
| Income and endowments | ||||||
| Donations and legacies | 4 | 110,106 |
74,011 | – | 184,117 | 162,153 |
| Charitable activities | 5 | 46,081 |
– | – | 46,081 | 41,346 |
| Investment income | 6 | 259 |
36 | – | 295 | 73 |
| Other income | 7 | 1,367 |
15 | – | 1,382 | 2,789 |
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Total income | 157,813 | 74,062 | – | 231,875 | 206,361 | |
| ============================= | ========================= | ============ | ============================= | ============================= | ||
| Expenditure | ||||||
| Expenditure on charitable | ||||||
| activities | 8 | 160,521 |
73,158 | – | 233,679 | 220,264 |
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Total expenditure | 160,521 | 73,158 | – | 233,679 | 220,264 | |
| ============================= | ========================= | ============ | ============================= | ============================= | ||
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Net expenditure | (2,708) | 904 | – | (1,804) | (13,903) | |
| ============================= | ========================= | ============ | ============================= | ============================= | ||
| Other recognised gains | and | losses | ||||
| Investment valuation | ||||||
| gains/(losses) | – | – | 110 | 110 | (155) | |
| ----------------------------- | ------------------------- | ------------ | ----------------------------- | ----------------------------- | ||
| Net movement in funds | (2,708) | 904 | 110 | (1,694) | (14,058) | |
| Reconciliation of funds | ||||||
| Total funds brought forward | 655,486 | 10,332 | 1,180 | 666,998 | 681,059 | |
| ----------------------------- | ------------------------- | --------------------- | ----------------------------- | ----------------------------- | ||
| Total funds carried forward | 652,778 | 11,236 | 1,290 | 665,304 | 667,000 | |
| ============================= | ========================= | ===================== | ============================= | ============================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 18 form part of these Annual Report and Financial Statements.
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| The Parochialchurch councilofrh Wembdon StatementofFinancial Position 31December2023 |
eEcc | lesiastical | Parisho | f |
|---|---|---|---|---|
| Note | 2023 tf |
2022 f |
||
| Fixedassets | ||||
| Tangible fixedassets | 12 | 469,034 | 478,841 | |
| Hozier Bequest Endowment | 13 | 1,290 | 1,190 | |
| 470,324 | 480,021 | |||
| Current assets | ||||
| Debtors | 14 | 12,994 | 15,113 | |
| Cash at bank and inhand | 191,517 | 180,ggg | ||
| 204,501 | 196,112 | |||
| Creditors:amountsfallingduewithinone year | 15 | 9,519 | 9,133 | |
| Netcurrent assets | 194,992 | 186,979 | ||
| Total assets lesscurrent liabilities | 665,306 | 667,000 | ||
| Netassets | 665,306 | 667,000 | ||
| Funds of the charity | ||||
| Endowmentfunds Restrictedfunds Unrestrictedfunds |
1,290 11,236 652,778 |
1,190 10,332 655,499 |
||
| Total charityfunds | 17 | 665,304 | 667,000 |
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements
Year ended 31 December 2023
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Vicarage, 12 Greenacre, Wembdon, Bridgwater, Somerset, TA6 7RR.
2. Statement of compliance
These Financial Statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)), the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCC's
The Church constitutes a public benefit entity as defined by FRS 102.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value except for the valuation of investment assets which are shown at fair value.
(b) Going concern
There are no material uncertainties about the charity's ability to continue.
(c) Judgements and key sources of estimation uncertainty
Given the straightforward nature of the accounts the trustees consider that there are no key judgements or sources of estimation uncertainty.
(d) Fund accounting
Unrestricted funds are available for use at the discretion of the PCC to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the PCC for particular future projects or commitments.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds. 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 must be carried forward as a balance on that fund.
The PCC administers one endowment fund - the Hozier Bequest. The capital of this fund must be maintained; only income arising from the investment in the endowment may be used as a restricted fund depending on the purpose for which the endowment was established. In the case of the Hozier Bequest, this fund is for the purpose of providing hospitality for the bell ringers from time to time.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
(e) Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.
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legacy income is recognised when receipt is probable, and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
(f) Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
3. Accounting policies (continued)
(g) Tangible assets
Consecrated and benefice property is not included in the accounts in accordance with Section 10 (2)(a) of the Charities Act 2011.
Movable Church furnishings held by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable property listed in the church's inventory and are not included on the Balance Sheet (SOFP).
Equipment used within the church premises are depreciated on a straight-line basis over five years. The Parish Centre Buildings are depreciated on a straight-line basis over fifty years. Individual items of equipment or furniture with a purchase price of £12,000 or less are written off when the asset is acquired. All fixed assets are initially recorded at cost.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings - 2% straight line Equipment - 20% straight line
(i) Investments
Investments are a form of basic financial instrument and are initially recorded at their transaction value and subsequently measured at their fair value at the balance sheet date using their quoted market price. The statement of financial activities includes the net gains and losses arising on valuation throughout the year.
(j) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
(k) Financial instruments
The church only has financial assets and liabilities that qualify as basic financial instruments and are therefore recognised at transaction price and subsequently at amortised cost. These include debtors and creditors as applicable.
(l) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Planned Giving: General | 74,361 | – | 74,361 |
| Planned Giving: CAF/Stewardship Donations | 7,056 | – | 7,056 |
| Service Offertories (Open Plate) | 4,756 | – | 4,756 |
| Legacies | |||
| Legacies | 2,000 | – | 2,000 |
| Gifts | |||
| Donations | 4,966 | 100 | 5,066 |
| Specific appeals | 30 | 631 | 661 |
| Hardship fund income | – | 410 | 410 |
| Appeal (YCW/Ministry) | – | 5,189 | 5,189 |
| Grants | |||
| Grants | 200 | 66,681 | 66,881 |
| Other donations and legacies | |||
| Tax Recoverable (Gift Aid) | 16,737 | 1,000 | 17,737 |
| ----------------------------- | ------------------------- | ----------------------------- | |
| 110,106 | 74,011 | 184,117 | |
| ============================= | ========================= | ============================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Planned Giving: General | 71,510 | – | 71,510 |
| Planned Giving: CAF/Stewardship Donations | 6,632 | – | 6,632 |
| Service Offertories (Open Plate) | 3,169 | – | 3,169 |
| Legacies | |||
| Legacies | 1,000 | – | 1,000 |
| Gifts | |||
| Donations | 3,874 | 34 | 3,908 |
| Specific appeals | 198 | – | 198 |
| Hardship fund income | – | 3,251 | 3,251 |
| Appeal (YCW/Ministry) | – | 7,059 | 7,059 |
| Grants | |||
| Grants | 1,650 | 45,434 | 47,084 |
| Other donations and legacies | |||
| Tax Recoverable (Gift Aid) | 16,942 | 1,400 | 18,342 |
| ----------------------------- | ------------------------- | ----------------------------- | |
| 104,975 | 57,178 | 162,153 | |
| ============================= | ========================= | ============================= |
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Youth Work Income | 840 | 840 | 504 | 504 |
| Parish Centre Hire | 28,167 | 28,167 | 23,484 | 23,484 |
| Parish Centre Lets | 1,543 | 1,543 | 2,704 | 2,704 |
| Holiday Bible Club | 414 | 414 | 853 | 853 |
| Fees (Weddings/Funerals/Churchyard) | 8,741 | 8,741 | 8,622 | 8,622 |
| Coffee Shop | 2,295 | 2,295 | 2,167 | 2,167 |
| Literature/Bible Notes | 581 | 581 | 190 | 190 |
| Adult Outreach Events | 3,500 | 3,500 | 2,822 | 2,822 |
| ------------------------- | ------------------------- | ------------------------- | ------------------------- | |
| 46,081 | 46,081 | 41,346 | 41,346 | |
| ========================= | ========================= | ========================= | ========================= | |
| Investment income | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Dividends and Interest Receivable | 259 | 36 | 295 | |
| ============ | ============ | ============ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Dividends and Interest Receivable | 37 | 35 | 73 | |
| ============ | ============ | ============ | ||
| Other income | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Vicars Income/Other Income | 377 | 15 | 392 | |
| Right of Way over Church Land | 610 | – | 610 | |
| Insurance claims | 380 | – | 380 | |
| --------------------- | ------------ | --------------------- | ||
| 1,367 | 15 | 1,382 | ||
| ===================== | ============ | ===================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Vicars Income/Other Income | 1,005 | 15 | 1,020 | |
| Right of Way over Church Land | 610 | – | 610 | |
| Insurance claims | – | 1,159 | 1,159 | |
| --------------------- | --------------------- | --------------------- | ||
| 1,615 | 1,174 | 2,789 | ||
| ===================== | ===================== | ===================== |
6. Investment income
7. Other income
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Diocesan Parish Share (Common Fund | 66,482 | – | 66,482 |
| Adult Mission/Outreach | 4,467 | – | 4,467 |
| Youth Mission/Outreach | 3,283 | – | 3,283 |
| Missionaries and Charitable Giving | 9,604 | 1,758 | 11,362 |
| Parish Office Running Costs | 3,809 | – | 3,809 |
| Church - Running Expenses | 17,258 | 1,965 | 19,223 |
| Staff Costs | 9,469 | 37,787 | 47,256 |
| Upkeep of Services | 2,122 | 20 | 2,142 |
| Other Activities | – | – | – |
| Parish Centre Running Costs | 34,218 | 31,628 | 65,847 |
| Fixed Asset Depreciation | 9,809 | – | 9,808 |
| ----------------------------- | ------------------------- | ----------------------------- | |
| 160,521 | 73,158 | 233,679 | |
| ============================= | ========================= | ============================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Diocesan Parish Share (Common Fund | 68,391 | – | 68,391 |
| Adult Mission/Outreach | 4,019 | – | 4,019 |
| Youth Mission/Outreach | 1,928 | 567 | 2,495 |
| Missionaries and Charitable Giving | 9,808 | 39 | 9,847 |
| Parish Office Running Costs | 3,454 | – | 3,454 |
| Church - Running Expenses | 16,056 | 5,469 | 21,525 |
| Staff Costs | 6,281 | 40,910 | 47,192 |
| Upkeep of Services | 2,224 | 20 | 2,244 |
| Other Activities | 377 | 1,800 | 2,177 |
| Parish Centre Running Costs | 24,667 | 23,956 | 48,621 |
| Fixed Asset Depreciation | 10,298 | – | 10,299 |
| ----------------------------- | ------------------------- | ----------------------------- | |
| 147,503 | 72,761 | 220,264 | |
| ============================= | ========================= | ============================= | |
| Net expenditure | |||
| Net expenditure is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 9,807 | 10,299 | |
| ===================== | ========================= | ||
| Staff costs | |||
| The total staff costs and employee benefits for the reporting | period are analysed | as follows: | |
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | 55,450 | 55,079 | |
| Employer contributions to pension plans | 480 | 445 | |
| ------------------------- | ------------------------- | ||
| 55,930 | 55,524 | ||
| ========================= | ========================= |
9. Net expenditure
10. Staff costs
The average head count of employees during the year was 4 (2022: 4).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
11. Trustee remuneration and expenses
One or more trustees has been paid remuneration or received other benefits from employment with the charity or a related entity.
Stipends and other benefits received by PCC member (trustees) in respect of their capacities other than trusteeship, serving as ecclesiastical office holders through the Church Commissioners (at the expense of the Diocesan Board of Finance) were:
Parochial Minister (Vicar): Stipend - £29,152 (2023/24 tax year) - £27,764 (2022/23 tax year); defined benefit pension scheme; living accommodation.
Safeguards are in place to ensure that the employees are not part of Trustee decisions surrounding employment terms and remuneration. Remuneration was paid as part of their employment package and solely for their services relating to employment and not for services as a PCC member.
12. Tangible fixed assets
| Land and | |||
|---|---|---|---|
| buildings | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 January 2023 and 31 December 2023 | 538,213 | 25,811 | 564,024 |
| ============================= | ========================= | ============================= | |
| Depreciation | |||
| At 1 January 2023 | 59,491 | 25,692 | 85,183 |
| Charge for the year | 9,765 | 42 | 9,807 |
| ----------------------------- | ------------------------- | ----------------------------- | |
| At 31 December 2023 | 69,256 | 25,734 | 94,990 |
| ============================= | ========================= | ============================= | |
| Carrying amount | |||
| At 31 December 2023 | 468,957 | 77 | 469,034 |
| ============================= | ========================= | ============================= | |
| At 31 December 2022 | 478,722 | 119 | 478,841 |
| ============================= | ========================= | ============================= |
13. Hozier bequest endowment
| Other | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 January 2023 | 1,180 |
| Additions | – |
| Fair value movements | 110 |
| --------------------- | |
| At 31 December 2023 | 1,290 |
| ===================== | |
| Impairment | |
| At 1 January 2023 and 31 December 2023 | – |
| ===================== | |
| Carrying amount | |
| At 31 December 2023 | 1,290 |
| ===================== | |
| At 31 December 2022 | 1,180 |
| ===================== |
All investments shown above are held at valuation.
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
14. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 5,630 | 6,737 |
| Prepayments and accrued tax recoverable (gift-aid) | 7,354 | 8,376 |
| ------------------------- | ------------------------- | |
| 12,984 | 15,113 | |
| ========================= | ========================= | |
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Trade creditors | 4,339 | 4,091 |
| Accruals and deferred income | 4,755 | 4,600 |
| Social security and other taxes | 378 | 351 |
| Other creditors | 47 | 91 |
| --------------------- | --------------------- | |
| 9,519 | 9,133 | |
| ===================== | ===================== |
15. Creditors: amounts falling due within one year
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £480 (2022: £445).
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The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 3 | Income | Expenditure | losses | 2023 | |
| £ | £ | £ | £ | £ | |
| General Fund | 121,430 | 121,627 | (112,631) | – | 130,426 |
| Parish Centre Fund | 33,536 | 34,987 | (34,219) | – | 34,304 |
| Ministry Designated | 3,182 | – | (3,182) | – | – |
| Youth Work Development | |||||
| Designated | 1,637 | 1,199 | (682) | – | 2,154 |
| Church Reordering | |||||
| Designated | 16,861 | – | – | – | 16,861 |
| Fixed Assets - Property | |||||
| Fund | 478,840 | – | (9,807) | – | 469,033 |
| ----------------------------- | ----------------------------- | ----------------------------- | ------------ | ----------------------------- | |
| 655,486 | 157,813 | (160,521) | – | 652,778 | |
| ============================= | ============================= | ============================= | ============ | ============================= | |
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 2 | Income | Expenditure | losses | 2022 | |
| £ | £ | £ | £ | £ | |
| General Fund | 111,379 | 118,207 | (108,155) | – | 121,431 |
| Parish Centre Fund | 28,435 | 29,766 | (24,666) | – | 33,535 |
| Ministry Designated | 7,566 | – | (4,383) | – | 3,183 |
| Youth Work Development | |||||
| Designated | 1,637 | – | – | – | 1,637 |
| Church Reordering | |||||
| Designated | 16,861 | – | – | – | 16,861 |
| Fixed Assets - Property | |||||
| Fund | 489,140 | – | (10,299) | – | 478,841 |
| ----------------------------- | ----------------------------- | ----------------------------- | ------------ | ----------------------------- | |
| 655,018 | 147,973 | (147,503) | – | 655,488 | |
| ============================= | ============================= | ============================= | ============ | ============================= |
- 16 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
17. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 3 | Income | Expenditure | losses | 2023 | |
| £ | £ | £ | £ | £ | |
| Parish Centre Main Hall | |||||
| Enhancement Funds | – | 36,203 | (29,220) | – | 6,983 |
| Hozier Income fund | 168 | 36 | (20) | – | 184 |
| Parish Centre Business | |||||
| Development | 2,408 | – | (2,408) | – | – |
| Ministry Restricted | 2,970 | 34,817 | (37,787) | – | – |
| Churchyard maintenance | – | 1,965 | (1,965) | – | – |
| Church Fabric | |||||
| Maintenance | – | – | – | – | – |
| Holiday Bible Club | – | – | – | – | – |
| Hardship fund | 4,786 | 410 | (1,127) | – | 4,069 |
| Specific appeals | – | 631 | (631) | – | – |
| ------------------------- | ------------------------- | ------------------------- | ------------ | ------------------------- | |
| 10,332 | 74,062 | (73,158) | – | 11,236 | |
| ========================= | ========================= | ========================= | ============ | ========================= | |
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 2 | Income | Expenditure | losses | 2022 | |
| £ | £ | £ | £ | £ | |
| Parish Centre Main Hall | |||||
| Enhancement Funds | – | 12,899 | (12,899) | – | – |
| Hozier Income fund | 153 | 35 | (20) | – | 168 |
| Parish Centre Business | |||||
| Development | 13,464 | – | (11,056) | – | 2,408 |
| Ministry Restricted | 6,947 | 38,733 | (42,710) | – | 2,970 |
| Churchyard maintenance | – | 1,949 | (1,949) | – | – |
| Church Fabric | |||||
| Maintenance | 2,000 | 1,520 | (3,520) | – | – |
| Holiday Bible Club | 567 | – | (567) | – | – |
| Hardship fund | 1,575 | 3,251 | (40) | – | 4,786 |
| Specific appeals | – | – | – | – | – |
| ------------------------- | ------------------------- | ------------------------- | ------------ | ------------------------- | |
| 24,706 | 58,387 | (72,761) | – | 10,332 | |
| ========================= | ========================= | ========================= | ============ | ========================= | |
| Endowment funds | |||||
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 3 | Income | Expenditure | losses | 2023 | |
| £ | £ | £ | £ | £ | |
| Hozier Bequest | 1,180 | – | – | 110 | 1,290 |
| ===================== | ============ | ============ | ============ | ===================== | |
| At | At | ||||
| 1 January 202 | Gains and | 31 December | |||
| 2 | Income | Expenditure | losses | 2022 | |
| £ | £ | £ | £ | £ | |
| Hozier Bequest | 1,335 | – | – | (155) | 1,180 |
| ===================== | ============ | ============ | ============ | ===================== |
- 17 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Notes to the Annual Report and Financial Statements (continued)
Year ended 31 December 2023
18. Analysis of net assets between funds
| Unrestricted | Restricted | Endowment | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | Funds | 2023 | |
| £ | £ | £ | £ | |
| Tangible fixed assets | 469,034 | – | – | 469,034 |
| Investments | – | – | 1,290 | 1,290 |
| Current assets | 193,264 | 11,236 | – | 204,500 |
| Creditors less than 1 year | (9,520) | – | – | (9,520) |
| ----------------------------- | ------------------------- | --------------------- | ----------------------------- | |
| Net assets | 652,778 | 11,236 | 1,290 | 665,304 |
| ============================= | ========================= | ===================== | ============================= | |
| Unrestricted | Restricted | Endowment | Total Funds | |
| Funds | Funds | Funds | 2022 | |
| £ | £ | £ | £ | |
| Tangible fixed assets | 478,841 | – | – | 478,841 |
| Investments | – | – | 1,180 | 1,180 |
| Current assets | 185,780 | 10,332 | – | 196,112 |
| Creditors less than 1 year | (9,133) | – | – | (9,133) |
| ----------------------------- | ------------------------- | --------------------- | ----------------------------- | |
| Net assets | 655,488 | 10,332 | 1,180 | 667,000 |
| ============================= | ========================= | ===================== | ============================= |
- 18 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Management Information
Year ended 31 December 2023
The following pages do not form part of the annual report and financial statements.
- 19 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Detailed Statement of Financial Activities
Year ended 31 December 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Planned Giving: General | 74,361 | 71,510 |
| Planned Giving: CAF/Stewardship Donations | 7,056 | 6,632 |
| Service Offertories (Open Plate) | 4,756 | 3,169 |
| Legacies | 2,000 | 1,000 |
| Donations | 5,066 | 3,908 |
| Specific appeals | 661 | 198 |
| Hardship fund income | 410 | 3,251 |
| Appeal (YCW/Ministry) | 5,189 | 7,059 |
| Grants | 66,881 | 47,084 |
| Tax Recoverable (Gift Aid) | 17,737 | 18,342 |
| ----------------------------- | ----------------------------- | |
| 184,117 | 162,153 | |
| ----------------------------- | ----------------------------- | |
| Charitable activities | ||
| Youth and Childrens Work Income | 840 | 504 |
| Parish Centre Hire | 28,167 | 23,484 |
| Parish Centre Lets | 1,543 | 2,704 |
| Holiday Bible Club | 414 | 853 |
| Fees (Weddings/Funerals/Churchyard) | 8,741 | 8,622 |
| Coffee Shop | 2,295 | 2,167 |
| Literature/Bible Notes | 581 | 190 |
| Adult Outreach Events | 3,500 | 2,822 |
| ------------------------- | ------------------------- | |
| 46,081 | 41,346 | |
| ------------------------- | ------------------------- | |
| Investment income | ||
| Dividends and Interest Receivable | 295 | 73 |
| ------------ | ------------ | |
| Other income | ||
| Vicars Income/Other Income | 392 | 1,020 |
| Right of Way over Church Land | 610 | 610 |
| Insurance claims | 380 | 1,159 |
| --------------------- | --------------------- | |
| 1,382 | 2,789 | |
| --------------------- | --------------------- | |
| ----------------------------- | ----------------------------- | |
| Total income | 231,875 | 206,361 |
| ============================= | ============================= |
- 20 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Detailed Statement of Financial Activities (continued)
Year ended 31 December 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Diocesan Parish Share (Common Fund | ||
| Activities undertaken directly | ||
| Diocesan Parish share (Common fund) | 66,482 | 68,391 |
| ------------------------- | ------------------------- | |
| Adult Mission/Outreach | ||
| Activities undertaken directly | ||
| Teatime Special | 115 | – |
| Church Weekend/Away Day | 1,530 | – |
| Adult Outreach | 2,164 | 4,019 |
| Small Groups/Christianity Explored/Alpha | 658 | – |
| --------------------- | --------------------- | |
| 4,467 | 4,019 | |
| --------------------- | --------------------- | |
| Youth Mission/Outreach | ||
| Activities undertaken directly | ||
| Holiday Bible Club | 606 | 567 |
| Youth Work Expenditure | 495 | 687 |
| Sonseekers Activities | 557 | 504 |
| Childrens Outreach Activities | 1,143 | 737 |
| All Age Services | 38 | – |
| Heart for Newtown | 444 | – |
| --------------------- | --------------------- | |
| 3,283 | 2,495 | |
| --------------------- | --------------------- | |
| Missionaries and Charitable Giving | ||
| Grant funding activities | ||
| Open Doors | 1,200 | 1,380 |
| SWEEPS | 1,920 | 1,920 |
| Tear Fund | 1,200 | 1,380 |
| Others (Support Fund) | 320 | 730 |
| Specific appeals | 631 | 271 |
| Michael J Tinker | 720 | – |
| Reach Across | 2,640 | 2,640 |
| Strategic ministry partnership grants | 1,350 | 1,487 |
| Hardship fund grants | 1,127 | 39 |
| Local Projects | 254 | – |
| ------------------------- | --------------------- | |
| 11,362 | 9,847 | |
| ------------------------- | --------------------- |
- 21 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Detailed Statement of Financial Activities (continued)
Year ended 31 December 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Parish Office Running Costs | ||
| Activities undertaken directly | ||
| Printing/Paper Costs | 1,673 | 1,934 |
| Telephone/software subscriptions | 1,080 | 1,134 |
| Advertising /Brochures/Displays | 966 | 266 |
| Small office equipment | 90 | 120 |
| --------------------- | --------------------- | |
| 3,809 | 3,454 | |
| --------------------- | --------------------- | |
| Church - Running Expenses | ||
| Activities undertaken directly | ||
| Utility Costs | 3,377 | 2,456 |
| Insurance | 1,432 | 1,305 |
| Ongoing Maintenance | 606 | 188 |
| Audio-Visual/Lighting | 767 | 1,122 |
| Quinquennial/Reordering Costs | 4,058 | 13,279 |
| Upkeep of Churchyard | 8,890 | 3,088 |
| Bank charges | 93 | 87 |
| ------------------------- | ------------------------- | |
| 19,223 | 21,525 | |
| ------------------------- | ------------------------- | |
| Staff Costs | ||
| Activities undertaken directly | ||
| Wages/salaries | 43,729 | 44,024 |
| Pension costs | 480 | 445 |
| Vicar Expenses | 2,002 | 1,803 |
| Staff Expenses | 1,045 | 920 |
| ------------------------- | ------------------------- | |
| 47,256 | 47,192 | |
| ------------------------- | ------------------------- | |
| Upkeep of Services | ||
| Activities undertaken directly | ||
| Fees, Licences, Subscriptions | 1,193 | 1,122 |
| Sundry Expenses | 336 | 222 |
| Visiting Speakers | 197 | 386 |
| Verger/Sexton/Clerk Costs | 416 | 514 |
| --------------------- | --------------------- | |
| 2,142 | 2,244 | |
| --------------------- | --------------------- | |
| Other Activities | ||
| Activities undertaken directly | ||
| Readers Costs and Training | – | 2,177 |
| ------------ | --------------------- |
- 22 -
The Parochial Church Council of The Ecclesiastical Parish of Wembdon
Detailed Statement of Financial Activities (continued)
Year ended 31 December 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Parish Centre Running Costs | ||
| Activities undertaken directly | ||
| Parish Centre catering supplies | – | 195 |
| Parish Centre Coffee shop supplies | 1,692 | 1,088 |
| Development Worker Salary | 11,721 | 11,055 |
| Utility costs | 7,803 | 7,181 |
| Parish Centre Enhancement Project | 29,220 | 8,422 |
| Parish Centre advertising | 60 | 50 |
| Parish Centre - Sundry Costs | 50 | – |
| Office Costs | 387 | 541 |
| Bad debt - write-off | 75 | – |
| Cleaning Materials | 598 | 358 |
| Maintenance | 5,848 | 12,061 |
| Insurance | 2,148 | 1,959 |
| Contract Cleaning | 6,245 | 5,711 |
| ------------------------- | ------------------------- | |
| 65,847 | 48,621 | |
| ------------------------- | ------------------------- | |
| Fixed Asset Depreciation | ||
| Activities undertaken directly | ||
| Depreciation | 9,808 | 10,299 |
| --------------------- | ------------------------- | |
| ----------------------------- | ----------------------------- | |
| Expenditure on charitable activities | 233,679 | 220,264 |
| ============================= | ============================= |
- 23 -