**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: - 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 - 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 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.** **- 6 -** 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: - 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. - 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. - 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. - 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. - 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. **- 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. **- 10 -** **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_| ||=============================|=========================|=============================| **- 11 -** **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_| |||=============================|=========================|=============================| **- 13 -** **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_| ||=============================|=========================|=============================| **- 14 -** **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). **- 15 -** **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_| ||=============================|=============================|=============================|============|============|=============================| **- 16 -** **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_| ||=====================|============|============|============|============|=====================| **- 17 -** **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_| ||=============================|=========================|=====================|=============================| **- 18 -** **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.** **- 19 -** **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_| ||=============================|=============================| **- 20 -** **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_| ||=============================|=============================| **- 22 -**