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2024-12-31-accounts

CHARITY REGISTRATION NUMBER: 1128003

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Annual Report and Financial Statements

31 December 2024

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Annual Report and Financial Statements

Year ended 31 December 2024

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
Notes to the detailed statement of financial activities 21

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Trustees' Annual Report

Year ended 31 December 2024

The trustees present their report and the unaudited Annual Report and Financial Statements of the charity for the year ended 31 December 2024.

ADMINISTRATIVE INFORMATION

Registered charity name The Parochial Church Council of The Ecclesiastical Parish of Wembdon 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 2024 until the date this report was approved, are as follows:

Ex Officio members: Incumbent Revd Dr Ed Moll Chair Curate Revd Simon Taylor Churchwarden Mr Paul Hodge Vice-Chair Deputy Churchwarden Mr Keith Ballard 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 until May 2024 Mrs Sally Ackroyd from May 2024 Mr Andrew Smallwood From May 2024 Mr Julian Cann Parish Safeguarding Officer Mr Russell Parsons Dr Andrew Douglass Mr Mark Casey

Independent examiner Mr John Scott
30 Durleigh Road
Bridgwater
Somerset
TA6 7HU

- 1 -

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Trustees' Annual Report (continued)

Year ended 31 December 2024

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 2024.

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:

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 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 10 occasions during the year, all in person and there were 2 Standing Committee meetings, both by email. Meetings always opened in prayer and with opening remarks from the Vicar.

The items discussed during these meetings included regular updates on finance and the PCC budget, staffing and Parochial Fees. The PCC were regularly updated on the Church of England's Living in Love and Faith Process and the House of Bishops' Proposals for Prayers of Love and Faith, and gave careful thought to the potential use of the Ephesian Fund to pay Parish Share.

The PCC received regular updates on the church's work with children and young people, and continued to seek to appoint a Youth and Community Worker. St George's Connect & Care (formerly Green Door Families) was adopted as part of the church's outreach. The list of those able to assist with Holy Communion was agreed and the process for the revision of the five year Plan and Vision during 2025 was set out. Strategic Partnership agreements were renewed.

Safeguarding was a standing item including regular updates on Safeguarding from the Parish Safeguarding Officer.

- 2 -

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Trustees' Annual Report (continued)

Year ended 31 December 2024

Church policies were regularly reviewed, revised and readopted. 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. The PCC also dealt with the damage to the church roof and the church organ following storms in October and December 2024.

Other issues that were discussed throughout the year included Electoral Roll changes, updates to the Mission partners and links, Parish Centre development plans, updates on Wembdon Common Land and updates on Heart for Newtown. All Church Subgroups presented the minutes of their meetings to the PCC for information throughout the year.

The Standing Committee met in between PCC meetings and focussed on purchasing a replacement camera for the church and also making the decision to replace the damaged church organ with a digital organ.

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 £186,124 (2023 - £231,875)

Donations (Giving)

Total receipts of regular donations (giving) on ordinary unrestricted funds (excl. gift aid) were £83,534 in 2024, down from £86,173 in 2023. This represents a decrease of 3.1%.

Grants Received

Restricted income grants by outside bodies to the Parish Centre Business Development programme, support ministry staff and churchyard amounted to £30,349.

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 the Charities Aid Foundation. This provides us with confidence that we can plan ahead to meet our commitments. We currently have 79 regular donors representing 118 members (average 1.5 members per donor) giving by this method.

Total funds raised through standing orders/CAF excluding envelopes were £76,981. This represents an average standing order donation of £81 per month or £974 for the year. Thank you to our members giving in this way. See chart below.

Donors Total Av. per Year Av. per
Month
£ £ £ £
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
2024 79 _76,981 _ 974 _81 _

- 3 -

The Parochial Church Council of The Ecclesiastical Parish of Wembdon Trustees. Annual Report (continued) Year ended 31 December 2024 The importance of Gift Aid Declarations We have emphasised at recent Annual Meetings the importance of 'Gift-aiding' our giving. Members will note that £16,495 (2023 - £17,737) of our income during the year was recovered from the HMRC to help fund the work of St. Georges and beyond. Thank you for making the effort to sign up for Gift Aiding. Expenditure £ 208,320 (2023 £233,679) was spent to provide Christian ministry from St. George's Church, including the Diocesan Parish Share and mission giving. The contribution to the dI0￿san parish share (Common Fund) provides the stipends, housing and pensions for the clergy and training for curates. The sum that the churches in the Deanery have to find is shared between the churches according to a formula that is based mainly on a head count and social disposition of the population of the parish. St George's quota was £77,423 (£66,482 in 2023). The Benefice Share for 2025 is £72,725. Our average adult membership stands at 130 members. This means that contributing to the Common Fund alone amounts to an average of £559 per member in 2025. In addition to this we need to fund our own running costs and staff salaries. Within the expenditure figure given above, we have been able to distribute £10,081 to mission work overseas and in this country outside our church during 2024. Please examine the Financial Statements to get a more detailed breakdown of the relevant figures and a full breakdown of the funds. Reserves policy It is PCC policy to try to maintain a balan￿ on funds which equates to at least six months regular expenditure in the General and parish Centre funds. The trustees, annual report was approved on 17 March 2025 and signed on behalf of the PCC by: Revd. Dr. CDE Moll PCC Chairman

The Parochial Church Council of The Ecclesiastical Parish of Wembdon Independent Examiner's Report to the Trustees of The Parochial Church Council of The Ecclesiastical Parish of Wembdon Year ended 31 December 2024 report to the trustees on my examination of the Annual Report and Financial Statements of The Parochial Church Council of The Ecclesiastical Parish of Wembdon ('the charity,) for the year ended 31 December 2024. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity you are responsible for the preparation of the Annual Report and Financial Statements in accordan￿ with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's Annual Report and Financial Statements carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the 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 that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act. or the Annual Report and Financial Statements do not accord with those records. or the Annual Report and Financial Statements do not comply with the applicable requirements Con￿rning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no COn￿rnS 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. r John Scott Independent Examiner 30 Durleigh Road Bridgwater Somerset TA6 7HU

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Statement of Financial Activities

Year ended 31 December 2024

2024 2024 2023
Unrestricted Restricted Endowment
funds funds funds Total funds Total funds
Note
£		 £ £ £ £
Income and endowments
Donations and legacies 4
103,199		 30,904 – 134,103 184,117
Charitable activities 5
48,858		 487 – 49,345 46,081
Investment income 6
989		 38 – 1,026 295
Other income 7
1,635		 15 – 1,650 1,382
----------------------------- ------------------------- ------------ ----------------------------- -----------------------------
Total income 154,681 31,444 – 186,124 231,875
============================= ========================= ============ ============================= =============================
Expenditure
Expenditure on charitable
activities 8
170,223		 38,098 – 208,320 233,679
----------------------------- ------------------------- ------------ ----------------------------- -----------------------------
Total expenditure 170,223 38,098 – 208,320 233,679
============================= ========================= ============ ============================= =============================
----------------------------- ------------------------- ------------ ----------------------------- -----------------------------
Net expenditure (15,542) (6,654) – (22,196) (1,804)
============================= ========================= ============ ============================= =============================
Other recognised gains and losses
Investment valuation
gains/(losses) – – 29 29 110
----------------------------- ------------------------- ------------ ----------------------------- -----------------------------
Net movement in funds (15,542) (6,654) 29 (22,167) (1,694)
Reconciliation of funds
Total funds brought forward 652,778 11,236 1,290 665,304 666,998
----------------------------- ------------------------- --------------------- ----------------------------- -----------------------------
Total funds carried forward 637,236 4,582 1,319 643,137 665,304
============================= ========================= ===================== ============================= =============================

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 Parochial Church Council of The Ecclesiastical Parish of Wembdon Statement of Financial Position 31 December 2024 2024 2023 Note Fixed assets Tangible fixed assets Hozier Bequest Endowment 12 13 459,270 1,319 469, 034 1,290 460,589 470, 324 Current assets Debtors Cash at bank and in hand 14 12,893 178,053 12,984 191,517 190,946 204, 501 Creditors: amounts falling due within one year Net current assets 15 8,395 9,519 182,551 194, 982 Total assets less current liabilities 643,140 665, 306 Net assets 643,140 665,306 Funds of the charity Endowment funds Restricted funds Unrestricted funds 1,319 4,582 637,236 1,290 11,236 652, 778 Total charity funds 17 643,137 665,304 These Annual Report and Financial Statements were approved by the PCC and authorised for issue on 17 March 2025, and are signed on behalf of the PCC by: Revd Dr CDE Moll Vicar Mr PJ Hodge Churchwarden Mr TM Ackroyd Treasurer The notes on pages 8 to 18 fonn part of these Annual Report and Financial Ststements.

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Notes to the Annual Report and Financial Statements

Year ended 31 December 2024

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.

- 8 -

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Notes to the Annual Report and Financial Statements (continued)

Year ended 31 December 2024

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:

(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:

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.

- 9 -

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Notes to the Annual Report and Financial Statements (continued)

Year ended 31 December 2024

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 2024

4. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Donations
Planned Giving: General 72,847 – 72,847
Planned Giving: CAF/QCT Donations 6,614 – 6,614
Service Offertories (Open Plate) 4,073 – 4,073
Legacies
Legacies 1,000 – 1,000
Gifts
Donations 670 – 670
Specific appeals – – –
Hardship fund income – 170 170
Appeal (YCW/Ministry) – 385 385
Grants
Grants 1,500 30,349 31,849
Other donations and legacies
Tax Recoverable (Gift Aid) 16,495 – 16,495
----------------------------- ------------------------- -----------------------------
103,199 30,904 134,103
============================= ========================= =============================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Planned Giving: General 74,361 – 74,361
Planned Giving: CAF/QCT 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
============================= ========================= =============================

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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 2024

5. Charitable activities

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Youth Work Income 1,057 – 1,057
Parish Centre Hire 32,676 – 32,676
Parish Centre Lets 1,411 – 1,411
Holiday Bible Club 414 487 901
Fees (Weddings/Funerals/Churchyard) 5,480 – 5,480
Coffee Shop 2,118 – 2,118
Parish Centre Catering 60 – 60
Photocopy Sales 44 – 44
Literature/Bible Notes 268 – 268
Adult Outreach Events 5,330 – 5,330
------------------------- ------------ -------------------------
48,858 487 49,345
========================= ============ =========================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Youth Work Income 840 – 840
Parish Centre Hire 28,167 – 28,167
Parish Centre Lets 1,543 – 1,543
Holiday Bible Club 414 – 414
Fees (Weddings/Funerals/Churchyard) 8,741 – 8,741
Coffee Shop 2,295 – 2,295
Parish Centre Catering – – –
Photocopy Sales – – –
Literature/Bible Notes 581 – 581
Adult Outreach Events 3,500 – 3,500
------------------------- ------------ -------------------------
46,081 – 46,081
========================= ============ =========================
6. Investment income
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Dividends and Interest Receivable 989 38 1,026
============ ============ =====================
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Dividends and Interest Receivable 259 36 295
============ ============ ============

- 12 -

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Notes to the Annual Report and Financial Statements (continued)

Year ended 31 December 2024

7. Other income

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Vicars Income/Other Income 1,025 15 1,040
Right of Way over Church Land 610 – 610
Insurance claims – – –
--------------------- ------------ ---------------------
1,635 15 1,650
===================== ============ =====================
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
===================== ============ =====================
8. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Diocesan Parish Share (Common Fund 77,423 – 77,423
Adult Mission/Outreach 3,544 – 3,544
Youth Mission/Outreach 2,658 – 2,658
Missionaries and Charitable Giving 9,331 750 10,081
Parish Office Running Costs 3,331 – 3,331
Church - Running Expenses 18,048 2,615 20,663
Staff Costs 7,691 21,749 29,440
Upkeep of Services 3,113 – 3,113
Parish Centre Running Costs 35,320 12,984 48,304
Fixed Asset Depreciation 9,764 – 9,763
----------------------------- ------------------------- -----------------------------
170,223 38,098 208,320
============================= ========================= =============================
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
Parish Centre Running Costs 34,218 31,628 65,847
Fixed Asset Depreciation 9,809 – 9,808
----------------------------- ------------------------- -----------------------------
160,521 73,158 233,679
============================= ========================= =============================

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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 2024

9. Net expenditure

Net expenditure is stated after charging/(crediting):

2024 2023
£ £
Depreciation of tangible fixed assets 9,764 9,807
===================== =====================

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows: The total staff costs and employee benefits for the reporting period are analysed as follows:
2024 2023
£ £
Wages and salaries 38,844 55,450
Employer contributions to pension plans 273 480
------------------------- -------------------------
39,117 55,930
========================= =========================

The average head count of employees during the year was 3 (2023: 4).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

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 - £30,638 (2024/25 tax year) - £29,152 (2023/24 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 2024 and 31 December 2024 538,213 25,811 564,024
============================= ========================= =============================
Depreciation
At 1 January 2024 69,256 25,734 94,990
Charge for the year 9,764 – 9,764
----------------------------- ------------------------- -----------------------------
At 31 December 2024 79,020 25,734 104,754
============================= ========================= =============================
Carrying amount
At 31 December 2024 459,193 77 459,270
============================= ========================= =============================
At 31 December 2023 468,957 77 469,034
============================= ========================= =============================

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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 2024

13. Hozier bequest endowment

Other
investments
£
Cost or valuation
At 1 January 2024 1,290
Additions –
Fair value movements 29
---------------------
At 31 December 2024 1,319
=====================
Impairment
At 1 January 2024 and 31 December 2024 –
=====================
Carrying amount
At 31 December 2024 1,319
=====================
At 31 December 2023 1,290
=====================
All investments shown above are held at valuation.
14. Debtors
2024 2023
£ £
Trade debtors 3,671 5,630
Prepayments and accrued tax recoverable (gift-aid) 9,222 7,354
------------------------- -------------------------
12,893 12,984
========================= =========================
15. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 7,211 4,339
Accruals and deferred income 916 4,755
Social security and other taxes 215 378
Other creditors 53 47
--------------------- ---------------------
8,395 9,519
===================== =====================

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 £273 (2023: £480).

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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 2024

17. Analysis of charitable funds

Unrestricted funds

At Gains and At
1 Jan 2024 Income Expenditure Transfers losses 31 Dec 2024
£ £ £ £ £ £
General Fund 130,426 115,699 (125,139) 15,542 – 136,528
Parish Centre Fund 34,304 38,982 (35,320) – – 37,966
Ministry Designated – – – – – –
Youth Work
Development Desig 2,154 – – – – 2,154
Church Reordering
Designated 16,861 – – (15,542) – 1,319
Fixed Assets -
Property Fund 469,033 – (9,764) – – 459,269
----------------------------- ----------------------------- ----------------------------- ------------------------- ------------ -----------------------------
652,778 154,681 (170,223) – – 637,236
============================= ============================= ============================= ========================= ============ =============================
At Gains and At
1 Jan 2023 Income Expenditure Transfers losses 31 Dec 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 Desig 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
============================= ============================= ============================= ============ ============ =============================

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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 2024

17. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At Gains and At
1 Jan 2024 Income Expenditure Transfers losses 31 Dec 2024
£ £ £ £ £ £
Parish Centre Main
Hall Enhancement
Funds 6,983 6,000 (12,983) – – –
Hozier Income fund 184 38 – – – 222
Parish Centre
Business
Development – – – – – –
Ministry Restricted – 22,134 (21,750) – – 384
Churchyard
maintenance – 2,615 (2,615) – – –
Holiday Bible Club – 487 – – – 487
Hardship fund 4,069 170 (750) – – 3,489
Specific appeals – – – – – –
------------------------- ------------------------- ------------------------- ------------ ------------ ---------------------
11,236 31,444 (38,098) – – 4,582
========================= ========================= ========================= ============ ============ =====================
At Gains and At
1 Jan 2023 Income Expenditure Transfers losses 31 Dec 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) – – –
Holiday Bible Club – – – – – –
Hardship fund 4,786 410 (1,127) – – 4,069
Specific appeals – 631 (631) – – –
------------------------- ------------------------- ------------------------- ------------ ------------ -------------------------
10,332 74,062 (73,158) – – 11,236
========================= ========================= ========================= ============ ============ =========================
Endowment funds
At Gains and At
1 Jan 2024 Income Expenditure Transfers losses 31 Dec 2024
£ £ £ £ £ £
Hozier Bequest 1,290 – – – 29 1,319
===================== ============ ============ ============ ============ =====================
At Gains and At
1 Jan 2023 Income Expenditure Transfers losses 31 Dec 2023
£ £ £ £ £ £
Hozier Bequest 1,180 – – – 110 1,290
===================== ============ ============ ============ ============ =====================

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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 2024

18. Analysis of net assets between funds

Unrestricted Restricted Endowment Total Funds
Funds Funds Funds 2024
£ £ £ £
Tangible fixed assets 459,270 – – 459,270
Investments – – 1,319 1,319
Current assets 186,361 4,582 – 190,943
Creditors less than 1 year (8,395) – – (8,395)
----------------------------- --------------------- --------------------- -----------------------------
Net assets 637,236 4,582 1,319 643,137
============================= ===================== ===================== =============================
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
============================= ========================= ===================== =============================

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The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Management Information

Year ended 31 December 2024

The following pages do not form part of the annual report and financial statements.

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The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Detailed Statement of Financial Activities

Year ended 31 December 2024

2024 2023
£ £
Income and endowments
Donations and legacies
Planned Giving: General 72,847 74,361
Planned Giving: CAF/QCT Donations 6,614 7,056
Service Offertories (Open Plate) 4,073 4,756
Legacies 1,000 2,000
Donations 670 5,066
Specific appeals – 661
Hardship fund income 170 410
Appeal (YCW/Ministry) 385 5,189
Grants 31,849 66,881
Tax Recoverable (Gift Aid) 16,495 17,737
----------------------------- -----------------------------
134,103 184,117
----------------------------- -----------------------------
Charitable activities
Youth Work Income 1,057 840
Parish Centre Hire 32,676 28,167
Parish Centre Lets 1,411 1,543
Holiday Bible Club 901 414
Fees (Weddings/Funerals/Churchyard) 5,480 8,741
Coffee Shop 2,118 2,295
Parish Centre Catering 60 –
Photocopy Sales 44 –
Literature/Bible Notes 268 581
Adult Outreach Events 5,330 3,500
------------------------- -------------------------
49,345 46,081
------------------------- -------------------------
Investment income
Dividends and Interest Receivable 1,026 295
--------------------- ------------
Other income
Vicars Income/Other Income 1,040 392
Right of Way over Church Land 610 610
Insurance claims – 380
--------------------- ---------------------
1,650 1,382
--------------------- ---------------------
----------------------------- -----------------------------
Total income 186,124 231,875
============================= =============================

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The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Notes to the Detailed Statement of Financial Activities (continued)

Year ended 31 December 2024

2024 2023
£ £
Expenditure on charitable activities
Diocesan Parish Share (Common Fund
Activities undertaken directly
Diocesan Parish share (Common fund) 77,423 66,482
------------------------- -------------------------
Adult Mission/Outreach
Activities undertaken directly
Tea Time Special – 115
Church Weekend/Away Day – 1,530
Adult Outreach 3,544 2,164
Small Groups/Christianity Explored/Alpha – 658
--------------------- ---------------------
3,544 4,467
--------------------- ---------------------
Youth Mission/Outreach
Activities undertaken directly
Holiday Bible Club 384 606
Youth Work Expenditure 719 495
Sonseekers Activities 367 557
Childrens Outreach Activities 1,188 1,143
All Age Services – 38
Heart for Newtown – 444
--------------------- ---------------------
2,658 3,283
--------------------- ---------------------
Missionaries and Charitable Giving
Grant funding activities
Open Doors 1,200 1,200
SWEEPS 1,920 1,920
Tear Fund 1,200 1,200
Others (Support Fund) 100 320
Specific appeals – 631
Michael J Tinker 720 720
Reach Across 2,640 2,640
Strategic ministry partnership grants 1,551 1,350
Hardship fund grants 750 1,127
Local Projects – 254
------------------------- -------------------------
10,081 11,362
------------------------- -------------------------
Parish Office Running Costs
Activities undertaken directly
Printing/Paper Costs 1,783 1,673
Telephone/software subscriptions 1,127 1,080
Advertising /Brochures/Displays 403 966
Small office equipment 18 90
--------------------- ---------------------
3,331 3,809
--------------------- ---------------------

- 21 -

The Parochial Church Council of The Ecclesiastical Parish of Wembdon

Notes to the Detailed Statement of Financial Activities (continued)

Year ended 31 December 2024

2024 2023
£ £
Church - Running Expenses
Activities undertaken directly
Utility Costs 4,123 3,377
Insurance 1,525 1,432
Ongoing Maintenance 506 606
Heating Repairs/Servicing 54 –
Audio-Visual/Lighting 753 767
Quinquennial/Reordering Costs 9,541 4,058
Upkeep of Churchyard 4,064 8,890
Bank charges 97 93
------------------------- -------------------------
20,663 19,223
------------------------- -------------------------
Staff Costs
Activities undertaken directly
Wages/salaries 26,643 43,729
Pension costs 273 480
Vicar/Ministry Expenses 2,013 2,002
Staff Expenses 511 1,045
------------------------- -------------------------
29,440 47,256
------------------------- -------------------------
Upkeep of Services
Activities undertaken directly
Legal and professional fees 746 –
Fees, Licences, Subscriptions 1,281 1,193
Sundry Expenses 455 336
Visiting Speakers – 197
Verger/Sexton/Clerk Costs 176 416
Readers costs and training 455 –
--------------------- ---------------------
3,113 2,142
--------------------- ---------------------
Parish Centre Running Costs
Activities undertaken directly
Parish Centre Coffee shop supplies 864 1,692
Development Worker Salary 12,201 11,721
Utility costs 7,277 7,803
Parish Centre Enhancement Project 11,970 29,220
Parish Centre advertising – 60
Parish Centre - Sundry Costs – 50
Office Costs 1,105 387
Bad debt - write-off 623 75
Cleaning Materials 418 598
Maintenance 4,872 5,848
Insurance 2,269 2,148
Contract Cleaning 6,705 6,245
------------------------- -------------------------
48,304 65,847
------------------------- -------------------------
Fixed Asset Depreciation
Activities undertaken directly
Depreciation 9,763 9,808
--------------------- ---------------------
----------------------------- -----------------------------
Expenditure on charitable activities 208,320 233,679
============================= =============================

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