St Leonard's Church Exfili'i Annual RerK)rt and Accounts for the year ended 31 st December 2024 Index Annual Report Statement of the PCC'5 responslbllltle5 Statement of Flnanclal Artlvltles io Statement of Flnancial Posltlon li Notes to the Accounts 12-19 Independent Examlner'5 Report 20
St Leonard's Church I, Annual Report and Accounts for the year ended 31 st December 2024 Adrnlnistrative Information St. Leonard's Church is part of the Diocese of Exeter within the Church of England. The correspondence address Is St. Leonard's Church, Topsham Road, Exeter. EX2 4NG. The Parochlal Church Council IPCCI is a Reglstered Charlty. Its reglstered number is 1128060. Its trustees are the members of the PCC. PCC members who served from l January 2024 to the Annual Meetlng 2024 (24 AprS12024}: Clergy Simon Austen (to 3 March 2024) IRectorl Chris Keane IAssociate Rectorl Paul Sutton Icuratel Churchwardens Alfredda Lake Tom Rlchards Deanery Synod (2023-2026) Matthew Bate Martin King Vacancy Vacancy Elected PCC Members 12021-20241 Scott Bradrldge Sharon Gardner Martina Juma Jan Porteous 12022-20251 Shell Alsop Jane Halse 12023-20261 Josh Mannln8 Adrian Midmer tTreasurerl Alan Savage Ichair, Mission Sub-committeel Ruth Steele Ex-officio Francis Sansbury (Diocesan 5ynodl Tim Hamilton (General Synod)
St Leonard's Church Ex(,l('r Annual Report and Account5 foT the year enda 31 st December 2024 PCC members who served from the Annual Meeting 2024 to 31 December 2024: Clergy Vacancy [Rectorl Chris Keane (A550ciate Rectorl Paul Sutton {to 31 July 20241 (Curatel Churchwardens Alfredda Lake Tom Rlchards Deanery Synod (2023-2026) Matthew Bate Martln King Francls Sansbury Ito 26 July 2024} J05h Mannlng (from 26 May 20241 Shell Alsop lfrom 5 August 20241 Elected PCC Members (2022-20251 Shell Alsop (to 4 August 20241 Jane Halse (to 31 July 20241 (2023-20261 Josh Manning (to 25 May 20241 Adrlan Mldmer ITreasurerl Alan Savage Ichair, Mission Sub-committee] Ruth Steele {to 31 July 2024) {2024-20271 Paul Douglas Sharon Gardner Mlke Morrissey Robert Steele Ex-offlclo Francis Sansbury (Dlocesan Synod) (re-elected to serve 2024-271 Tim Hamilton (General Synod) Guests Ruth Clarke Ichildren's & Families, Minlster] Paul Gardner IRetired Ministerl
St Leonard's Church INt,l('I Annual Report and Accounts for the year ended 3 Ist Dernber 2024 Strurture, Governance and Management The method of appointment of PCC members is set out in the Church Representation Rules. All church attendees are encoura8ed to re8iSter on the Electoral Roll and stand for election to the pcc. The Standing Committee conslsts of the Rector, Churchwardens, Treasurer and one elected memberofthe PCC. Forthe Pccyear beginning May 2024, the Associate Rector joined as a Second elected member from the PCC in the absence of a Rector. This is the only committee required by law and hasthe powertotransact buslness of the PCC between meetings, subjectto any direction of the Council. It meets every other month or as required. Other sub-commlttees also report to the PCC: Missions, Buildings, Finance and Safe8uarding. There is also a Human Resources IHRI group which meets, as required. to ensure compliance wlth employment Issues. The PCC has complied with the duty under Sectlon S of the Safeguarding and Clergy Dlsclpllne Measure 2016 (duty to have regard to House of Blshops. 8uidance on safeguardln8 chlldren and vulnerable adults). Objertlves and Actlvltles Parochlal Church Counclls Powers Meosure 1956 General functions of council; l. It shall be the duty of the mlnlster and the parochlal church council to consult together on matters of general concern and importance to the parlsh. 2. The functions of parochial church counc115 shall include al co-operation with the Rector In promoting in the parlsh the whole misslon of the Church, pastoral, evan8elistic, social and ecumenical; bl the conslderation and discussions of matters concernin8 the Church of En8land or anv other matter5 of reli8ious or public interest, but not the declaration of the doctrine of the Church on any questlon; cl making known and puttlng Into effect any provision made by the dlocesan synod or the deanery synod, but wlthout prejudice to the powers of the councll on any partlcular matter; dl givin8 advice to the diocesan synod and the deanery synod on any matter referred to the council: el raising such matters as the council consider appropriate with the diocesan synod or deanery synod fl appointing sidesmen (who are also known as assistants to the churchwardensl. The powers conferred on the Council include the power to acquire, manage and administer property for church purposes and the power to frame an annual budget to finance the mission of the church. The Council is also given power. jointly wlth the Rector, to appoint and dismlss staff members and to determlne their 5alarie5 and conditions of service. The mlsslon of St Leonard's Is to be obedient to the Lord Jesus's command recorded in Matthew Chapter 28 verses 16 to 20, by seeking to make Jesus known and equlppin8 people to 8row in maturity as dlsclples of Chrlst.
St Leonard's Church I Annual Report and Accounts for the year ended 31 st December 2024 The Church of England's objectives are- to enhance the Church'5 misslon; to sustain and advance the Church's work in educatlon, Ilfelong learnlng and disciple5hip- to enable the Church to select. train and resource the right people, both ordained and lay, to carry out public ministry and to encourage lay people in their vocation to the world,. and to encourage the malntenance and development of the Inherited fabric of church buildings for worship and service to the communitv The PCC ensures that the church's life within the parlsh helps to fulfil those objertives, both locallv and more wldely through the support of misslon partners. The PCC is aware of the Charlty Commlssion's 8uldance on publlc benefit in Yhe Advancement of Religion for the Public Benefit" and ha5 regard to it in Its administration of the Parish. The PCC belleves that, by fulfillln8 Its responslblllty to work together with the Rector and co-operate in all matters of concern and importance for the promotion of the whole misslon of the Church, pastoral, evan8ellstlc and social, It provides a benef5t to the public by: providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and for anyone who wlshe5 to benefit from what the church offers; promotin8 Christlan values, and servlce by members of the church to the communltv, to the beneflt of indSviduals and soclety as a whole. The PCC is commltted to enabllng as many people as posslble to worship at St. Leonard's Church on Sundays and to take part in midweek actlvities. Blble 5tudles and prayer meetings. A 'weeklv update, is circulated each week to all people who are registered on our database. In addltlon, the Rector contrlbutes a regular column in the bl-monthly 5t. Leonard's Nelghbourhood Assoclation News and a comprehensive webslte Is regularly updated. Church Attendance The number on the Electoral Roll on 31 December 2024 was 28S12023: 2941. The average Sunday attendance (not including chlldren under 161 was estimated to be 203, as of February 202512023: 3031. The average Sunday attendance of babies, children and young people {under 1851 was 35 in Feb 2025 (October 2023: 441. Estimated number in our'worshipping community,, what we would c311 our church family.. 34912023: 6211, of whom 5012023: 921 are under 18. Number of adults in a small bible study or fellowship group: 17812023.. 2481. Number of students: 57 12023: 771.
St Leonard's Church Fx(-l()I' Annual Report and Accounts for the year ended 31st December 2024 Review of the Year The PCC met for the regular six meetings during the year. with four additional meetings lone unminuted discussion morning in January and rneetings in April, July and Au8UStI, to discuss ministry matters and generally to transact the business of the Parish. The Standing Committee and Sub-committees for Buildin85, Flnance, Safe8uardln8 3nd Mlssion Support met regularlv presenting reports for discussion by the PCC to enable it to make informed decisions. The PCC discussed: ministry needs at St Leonards. the unfolding situation in the Church of England around the Prayer5 of Love and F31th IPLFI, the proce55 around the Vacancy includlng the production of the Parlsh Profile and the appolntment of Parish Representatives, Staffing Includin8 the appointment of a Youth and FamS1ies' Minister, Finance5 and Biving, the CEEC 'ln Lamen material, updating a PCC Mission Action Plan IMAPI, elections to Deanery Synod, Safe8uardln& Health and Safety and outreach to the St Leonard's Quarter. All aspects of the church's ministry seek to fulfil the great commission of the Lord Jesus Christ; that Is, to make dlsclples. The convlctlon of the church Is that God wlll work by His Spirit to achieve HIS purposes. Our responslblllty, as empowered by that Splrlt, Is to set forth the truth plainly and clearly and to pray. To that end our authorlty In all Matters of falth and conduct is the Bible. The Sunday gatherings are our main focus, at whlch there Is systematic teaching of the Bible. Decisions as to what to preach are made by the Rector, Associate Rector and staff team, based on a number of criteria: The preaching history (stretching back to 19991, noting what has and has not been covered. A balance across the year of Old Testament, New Testament Gospel and Epistle and DoctrSne. An awareness of the questions and concern5 which are raised during regular pastoral mlnlstry. Durln8 2024 the followlng booksltoplcs have been studled: I Samuel 8-20 Luke 19-22 I Corlnthlans 15 & 16 John6&7 Proverbs serles l Timothy S & 6 Acts 1-5 Ephesians Joel In addition, certain Sundays and particular time5 of the year have been dedicated to one-off sermons. such as at Mission Sunday and other Sundays with mission speakers. Easter, Christma5 and Remembrance.
St Leonard's Church i-yi,Iil Annual Report and Accounts for the year ended 315t DeCemr 2024 It has been the pattern to linkthe morning and eveningseries wlth the Home Groups and women's and men's Bible studies so that no-one studies More than two books of the Bible at one time, but to maximise opportunities to study a book as thoroughly 35 posslble. This also link5 wlth the work among young people. In addition to the regular Sunday gatherings, a church prayer meeting was held every other week, wlth two possible times available for people to attend, and on-going and extensive mlnistry across a wide a8e-range, including outreach and 'nurture' took place. Variou5 training events and weekends away were 3rranged through the year. The PCC were pleased to appoint Luke Markham as a new Youth and Famllles, Minister in July. Followlng a thorough and extensive process, Including consultatlon with CPAS, as Patron, and intervlewing a shortlist of candidates, the Churchwardens, as Parlsh Representatives, were pleased to announce in November the appolntment of Rev. Matthew Rowland, Vicar of Modbury Mission Community, as Rector with effect from May 2025. We remaln commltted to exploring the p05slbllity of further staff, particularly for the extensive minlstry among and to women - and reco8nise the need for additlonal admlnlstrative support. In August, Paul Sutton, along with around 65 adults and their families. established a new church {All Salntsl In Exeter under the auspices of the International Presbyterian Church. We welcome this as a further opportunlty to further the 8ospel. Flnanclal Revlew St. Leonard's total Income was £467,546 {2023.' £440,566) and expendlture £418,379 12023: £417,139). This resulted in an overall surplus, before other recognlsed gains, of £49,16712023: £23,427). Post year end we were informed that an Interim payment on a legacy from an estate had been authorised, so the payment has been reflected as income and an accrual In the accounts. Afurther smaller payment is expected to be received durin8 2025 once the estate has been finalised. Wlthout this we would have recorded a deficit of £20,833. The financlal markets Improved during the year, with the value of the Investment assets increaslng by £7,133. The church owned houses were also revalued, wlth an increase of£240,000 recognised. Therefore, the overall movement of funds was posltive by £296,300. During the year, 8rantS totalling £77,620 were received from the Larkbeare Christian Trust ILCTI {2023: £82,650) and £5,CMJO from the St Leonard's Christlan Trust ISLCTI {2023: Nlll. Their use is restricted to supporting non-stipendiary staff and the Ministry Assistant IMA) programme and Is not therefore available for general expenditure. Durin8 the year. LCT grants helped to fund the costs of the PCC employing the Children's and Families, Minister, Youth and Families, Minister, Ministry Assistants IMA'S) and the Church Office team and the SLCT grant was towards the cost of the Youth and Families. Minister.
St Leonard's Church Fxi,I Annual Report and Accounts for the year ended 31 sl December 2024 The original Budget for 2024 was a significant deficit. Majority of our c05t5 are largely fixed but we saw a reduction in our staff costs as one MA left early in the year, to take up another job opportunity. and we did not have a replacement MA in September. Our admin staff have continued as two part tlme role5. However, we were pleased to appoint a Youth and Families, Minister in July, with them being housed in the Cedars Road property. As a Misslon focussed church, we continue to support variou5 partners both locally and globally, In addition to provlding some support to the All Saints Church plant, which happened in August. Our members, direct8lvln8 held up in line wlth the budget, wlth supportfrom LCT seeinga modest reduction to that seen in 2023 and we are thankful for the support from SLCT, towards the new Youth and Familie5, Minister. We have continued to rent out two of the church houses which provided some valuable regular Income. Durlng the year. we malntalned a dlalogue wlth the Diocese regarding our financial situation and partlcularly our Common Fund request and, In view of our situation the Diocese offered a redurtion in the Common Fund request (from £220,440) to £142,552, beingtheir notional cost of o full time clergy positions. Looking forward to 2025, our financial budget again looks like a substantial deficit position and therefore we wlll need to maintain a close focu5 on all cost areas as well as lookln8 at ways to increase our income. We are thankful for the continued generous glvlng seen by the church membershlp. Reserves The Reserves Pollcy Is to hold cash or slmllar Ilquid assets equivalent to 3 mlnlmum of 3 months of normal expenditure. Followlng the last qulnquennial Inspectlon, varlous works are requlred to the church buildings, for whlch we have not yet been able to obtaln suitable quotes for, for completion, but we have designated £75,000 towards completion of some of these works. Works are also Ilkely to be requlred on the staff houses over the next few years to brlng them up to current standards, which potentially could involve somewhere in the region of £20,000 £30.000 per house. Thls recognlses the PCC'S deslre to have a Reserves Pollcy that Is both approprlate to the financial risks and circumstances of St Leonard's and in accordance with best practice for charities. With ongoing careful management by the PCC, the Reserves Policy 15 bein8 maintained and will continue to be reviewed. We a150 hold a Provision for Liability In respect of the churchyardlboundary wall (see Note 111. Risk Assessment The PCC, Finance Committee and staff consider the rlsks pertaining to the church and Its actlvltles and monitor these. The most significant risks relate to our buildings and to the people, including
St Leonard's Church I Annual Report and Accounts for the year ended 31 st December 2024 staff, who use and attend them. The pollcles with Ecclesiastical Insurance Group provide adequate insurance cover for all the buildings for which the PCC is responsible and for other matters such as employerfs and public liability. Pollcles on Health and Safety and Safeguarding are kept under regular review by the PCC. Plans for Future Perlods Looking ahead, the PCC anticipates further discussion about expansion of mlnlstry with regards to staffin& finance including the diocesan parish share, buildings and the issue5 which face the Church of En8land in coming months and years. There remalns continued uncertalnty regardin8 appropriate accommodation for orthodox evan8ellcal churches under Livln8 in Love and Falth ILLFI. Our concern is always to do that which will most help people to come to faith and grow in falth. Through prayer and the mlni5try of the word we trust God's work throu8h Jesus, by His Splrlt, all done for His glory. Statement of the pces Responslbllltles The PCC is responslble for preparln8 the annual report and the flnancial statements in accordance with appllcable law and regulations. CharSty law requires the PCC to prepare flnancial statements for each financlal year. Under that law the PCC has elected to prepare financial statements In accordance wlth the Unlted Kingdom Generally Accepted Accounting Practice (United Kingdom Accountln8 Standards and applicable lawl. The financial statements are required by law to 8ive a true and falr view of the state of affairs of the charity and of Its surplus or deficit for that perlod. In prep3rln8 these financial statements the PCC Is requlred to.. select suitable accountlng policles and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accountlng Standard5 have been followed, subject to any materlal departures disclosed and explained in the financlal statements,. and prepare the financial statements on a golng concern basls unless It is Inapproprlate to presume that the charity wlll continue in operatlon. The PCC is responslble for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable It to ensure that that these financial statements comply with the Charities Act 2011. It is also responsible for safeguarding the charity'5 assets and taking reasonable steps for the prevention and protection of fraud and other irregularities. PCC Vice Chair 10 March 2025
St Leonard's Church FYoilL'I Annual Rewrt and Account5 for ihe year ended 31 st December 2024 Statement of Financial Actlvitles ISOFA} Vnre5trlcted fund5 Restritted fund5 Endowment fund5 Total fund5 Prioryeor Aunds Incomlng resources Incoming resources from generated funds -voluntary Income -Activities for generating nds -Investment income Incomlng resources from charitable activities Other Incomln8 resources TDtsI Incomlng resources Resources used Charitable activlties Governance costs Other resources used 297,284 13,926 311,210 267,919 5,588 46,051 12.584 5,588 55,544 12,584 6,501 65,545 17.951 9,493 82,620 106,039 82.620 467,546 82,650 440,566 361.507 321,856 96,523 418,379 417,139 Totsl resources used 321,856 96,523 418,379 417,139 Net 5ncome l lexpendlturel 39,651 9,516 49,167 23.427 Transfers Gr05S transfers between fund5- in Gross transfers between funds- out Net Income I lexpendlture) 9,493 19,4931 23 49.144 49,167 23,427 Other recoqn15ed qolns/losses Galn51105ses on Investment assets Gains on revaluation, flxed ssets, charivs own use 7,133 7,133 22.324 240.CKX) 240,000 Net movement In funds 49,144 23 247.133 296.300 45, 751 Reconclllotlon oAAund5 Total funds brou8ht forward 266,007 5,368 1,401,485 1,672.860 1.627.109 Total funds carried forward 315,151 5,391 1,648,618 1,969,160 1.672.860 io
St Leonard's Church F.xo.Ii I Annual Report and Accounts for the year ended 31st Decemkr 2024 Balance Sheet 2024 2023 Note Flxed Assets Tangible assets Investments 1.339.365 1,109,208 1,652,983 1,415,693 Current assets Stocks & work5 In progress Oebtors Cash at bank and in hand 73,444 4,368 357,298 302,604 Credltors: amounts falllng due withln l year io 14,121} (8,437) Net current assets 2AIL7 Total assets less current Ilabilitles 2.006.160 1,709,860 I Provlslons for Ilabllltles li 137,0001 {37,OOOJ Net assets L969,160 1,671860 Represented by: Unrestricted funds- General Unrestrlcted funds- De51gnated Restrlcted funds Capital funds 240,151 75,lJJO 5,391 1,648,618 191,007 75,000 5,368 1,401,485 Fund$ of the church 1,969.160 1,672,860 The notes on pages 12 to 19 form part of these accounts Approved by the Parochial Church Councll and signed on Its behalf on 10 March 2025 by.. Tom Rlchards, PCC Wce Chairman Adrian Midmer ITreasurerl li
St Leonard's Church Annual Report and Accounts for the year ended 31 st December 2024 Notes to the accounts Accountln Pollcles Basss of accountlng These Accounts have been prepared under the Church Accounting Regulations 2006 in accordance with Accounting and Reporting by Charities.. Statement of Recornmended Practlce applicable to charities preparin8 their account5 in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021. The accounts are prepared under the h15torlcal cost conventlon except for the valuation of Investment and property assets, whlch are shown at market value. The PCC meets the definition of a publlc benefit entity under FRS 102. The trustees consider that there are no material uncertalntles about the ability to contlnue 35 a goln8 concern. b) Statement of Compllance The financial statements have been prepared In accordance with FRS 102 - the Flnancial Reporting Standard appllcable In the UK and Republlc of Ireland. There are no materlal departures from FRS 102. Funds The General Fund represents the funds of the PCC that are not subject to any restriction5 re8ardln8 their use and are avallable for application on the general purposes of the PCC. Funds designated for a particular use by the PCC are also unrestricted. The accounts include all transactions. assets and liabilities for whlch the PCC is responsible In law. They do not include the accounts of church group5 that owe thelr main affiliation to another body or those that are Informal gatherln85 of church members. The Thornas Mlnlstry Fund recelves Income restrlcted 'for the 5UPPOrt of the ministry wlthln St Leonard's,. Thls Is transferred to the St Leonard's General Fund for the support of clergy expenses, the solary and expenses of non-cler8y employed staff and expenses pald to visiting preachers. The amount necessary to meet these expenses Is transferred each year. The Larkbeare Christian Trust 15 a restricted fund, which makes grants to the PCC to support the costs of the non-stipendiary staff and the Ministry Assistant tralning programme. During the year grants amounting to £77,620 were received for this purp05e. The St Leonard's Chrlstlan Trust, Charity No. 1178981, is a CIO Set up for the advancement of the Christian Faith, for the benefit of the public, in the City of Exeter and neighbouring area5. During the year, a grant of £5,000 was received towords the cost of the Youth and Families. Minister. The Property Fund and the Investment Fund are capital funds consisting of the Properties and endowment funds described in note 2. 12
St Leonard's Church I Annual Report and Accounts for the year ended 31 st Decemkr 2024 d) Incoming Resources d il Voluntory Income and Capltol Source5 Donations are recognlsed when received by or on behalf of the PCC. Income tax recoverable on Gift Aid donations Is recognlsed when the associated donation is reco8nised. Grants and legacies to the PCC are accounted for as soon as the PCC is notifled of its legal entitlement, the amount due is quantifiable and its ultimate recelpt by the PCC Is reasonably certain. Fund5 raised by fundraising events are accounted for gross. Bookstall sales are accounted for gmss. d ill Other Income Rental Income from the lettin8 of Church premises 15 reco8nised when the rental Is due. d illl Incomefrom Investments Dividends are accounted for when due and payable and Snterest entltlements a5 they accrue. d Iv) Goins ond Losses on Investments Reallsed galns or losses are reco8nised when investments are sold. Unreallsed gains and1055es are accounted for on revaluation of investments at 31 December. Resources Used Grants and donatlons are accounted for when pald over, or when awarded, If that award creates a blndln8 obll8ation on the PCC. The Common Fund contribution15 accounted for when pald. Flxed Assets f11 Other Fixture5. Fittlnqs, Office Equipment and Telephone System Equipment used wlthln the church premlses is depreciated on a stralght-llne basts over 4 year5. except for the Church Centre heatln8 boilers, whlch were replaced In 2016 and are depreciated over 10 years. Equlprnent with a purchase price of £l,CAJO or less Is written off when acquired. f ill Property Staff houses are shown at market value, assessed as at 31 December 2024. Formal valuatlons are normally obtained every five years. but are updated In the event of abnormal fluctuations In the property market or other material changes in circumstances. No value ha5 been included for the cuItNated part of the churchyard adjacent to Larkbeare Road. Investments Investments are stated at market value at the balance sheet date. The SOFA include5 the net 8ains and105ses arising on revaluations and disposals throughout the year. 13
St Leonard's Church FN(Il£'i Annual Report and Accounts for the year ended 31 si December 2024 Current Assets Amounts due at the year-end In respect of fees, rents or other income are shown as debtors. Financial Instruments The PCC only has flnancial assets and flnancial Ilabllltles of a klnd that qualify as basic financial Instruments. The PCC currently holds debtor5 and creditors. Unrestricted Funds Restricted Funds Total Funds Total Funds 2 Voluntary income Planned glving: Gift Aided donotions Tox recoveroble thereon Donotlons (GA cloimed by 3,° Party) Tox recovered thereon Cht7rlty voucher5 Other plonned giving Collections Gift Aid on Small Oonations 106,075 27,337 9,093 2,273 267 55 115,168 29,610 267 55 47,314 33,838 10,087 2,021 127,912 32,239 47,314 33,534 10,087 2.021 48,979 43,340 10,478 2.524 304 Planned aDd rngular ilvln8 226,368 11,992 238,360 265,472 Non-recurrln8 donations: Gift Aided donations Tox reclaimed Other donations Legacies 343 85 488 70,CK)O 593 148 1,193 936 233 1,681 70,000 315 2.053 Totsl voluntary Income 297.284 13.926 311,210 267.919 3 Investment & rental income 63 Cedars Rd. & other rents Interest from bank accounts Thomas Trust Income other Trust income 38,686 7,015 38.686 7.015 9,493 350 50,146 5, 789 9,265 345 9,493 350 46,051 9,493 55,544 65,545 The endowment funds are held in UK common investment funds ICBF Investment Fund and M&G Charifundl with the Diocesan Board of Finance as custodian trustee and are detsiled in Note 8. The Thomas bequest produces the Thomas Fund income. Other investments eorn income for the General Fund. Two houses were let on Assured Shorthold Tenancies whlle not required by the church as staff or ministry assistant accommodation. 14
St Leonard's Church Fx(*l('I' Annual ReFY)rt and Account5 for the year ended 31 st December 2024 4 Income from church actlvltles 2024 2023 Junior Jivers Income Chlldren/Youth Income Lens Income Student Income Special Event Income Wedding & Funeral Fees Sulldry income Subtotal Centre Bookln8s & churchyard Income 536 211 1,232 1.393 6.696 2,246 270 12.584 5,588 18,172 525 267 1.132 1. 779 8,557 2.515 3,176 17.951 6.501 24.452 S Other Incomln8 resources 2024 2023 Grants from Larkbeare Christian Trust IRe5trlcted Funds) Grant from St Leonard's Christian Trust (Restricted Fundsl 77,620 S,OCN) 82.620 82.650 82,650 6 Cost of church artlvltles 2024 2023 Common fund contrlbution Staff Costs (see also note 6a) Bulldin8s & Other Property Malntenance Houses- Insurance & utilltles Donations to Misslon Partners & Agencies Church & Centre utillties Church & Centre insurance & runnln8 Costs Photocopying & printlng Telephone, webslte & IT support General expense5 Ministry Special Events Bookstall. Other Books & Bibles Copyright fees Depreciation Wedding & Funeral expenses Sundry expenses Legal and professlonal fees Specific items expenditure 142,552 105,044 31,656 1,676 74,199 13,485 18,668 736 2,299 1,961 5,401 6,9(Xl 923 149.974 129.033 10,862 3.790 59,179 13,807 15,007 612 2.127 1,827 6,004 io.iio 1,092 1, 744 9,843 231 877 720 300 417.139 1.833 9.843 305 178 720 418,379 15
St Leonard's Church FY(.Ic i- Annual Report and Account5 for the year ended 31 st Dernber 2024 6a Staff Costs 2024 2023 Gross salaries Employers, National Insurance Penslon Contributions Staff trainin8, development and expenses 88,494 2,266 10,677 3,607 105,044 102,841 2,199 14,179 9,814 129.033 The average numberof ernployee5durlngthe year was 4ofwhom 2 were part time (2023.. 6. of whom 2 part time). No employee earned total emoluments exceedlng £60,OCM) in the year. None of the trustees or any persons connected wlth them received any remuneratlon durlng the period. 3 trustees were reimbursed a total of £77612023.. 3/£2,303J for expen5e5 incurred in the line of their dutles. These are Included In staff costs. Of the staff costs. £82,620 has been covered by grants received from Larkbeare Chrlstlan Trust and St Leonard's Chrlstian Trust. 7 Tanllble flxed assets Property Equipment Total Cost or Valuatlon As at l January 2024 Additions Revaluation As at 31 December 2024 1,095.000 80,304 1,175,304 240,OC 1,335,OQM) 240,C 1,415,304 80,304 Depreclatlon As at I january 2024 Charge for the year Disposal As at 31 December 2024 66,096 9,843 66.096 9,843 75,939 75.939 Net Book Value As at l January 2024 As at 31 December 2024 1.095,000 1,335,000 14,208 4,365 1.109.208 1,339,365 The 3 houses owned bythe PCC were valued on 31 December 2024 by Southgate Estates, with the previou5 valuations from 2018 shown in brackets, as follows: 27 Barnardo Road £490,C()01£450,0001 63 Cedars Road £530,(MJO1£335,0001 26 St. Leonard's Ave. £315,rKJo1£310,0001 16
St Leonard's Church . Annual Report and Accounts for the year ended 31 st December 2024 8 Investrnents 2024 Thomas Trust 2023 Total other Totsl Market value at l January 2024 Revaluations Market value at 310ecember 2024 12,578 285 12,863 293,907 6,848 3,755 306,485 7.133 313.618 284,161 22,324 306,485 The Thomas Trust is a restricted endowment fund- see Note Icl In accounting pollcles and Note 3 concerning where the funds are invested. 9 Debtors 2024 2023 Debtors Accruals Prepayments Gift aid tax owln8 146 70.0()J 200 3,098 73,444 1.645 175 2,548 4,368 10 Credltors: Amount5 fallln8 due wlthln one ar 2024 2023 Credltors Diocesan fees Receipts in advance A8ency Collectlons 2,255 489 1.357 20 4,121 6,957 187 1,293 8,437 11 Provlslons lor Ilabllltles Total At l January 2024 37,CA)O Utilised At 31 Detember 2024 37.000 We hold a Provision for Liability in respect of the churchyardlboundary wall. 12 Related party transartlons There were no transactions undertaken by or on behalf of the PCC in which a connected person or other related party hod a material interest. Durin8 2024 the PCC recelved £57,628 in donations from trustees IPCC members) and their close relatives. The donors dld not attach any conditions to their gifts which required the charity IPCCI to alter the nature of its existing activities. 17
St Leonard's Church Ex£'l, Annual Report and Accounts for the year ended 31 st December 2024 13 Flnancial commltments At 31 December 2024 the charity had no financial commitments {2023- £NII). 14 Funds Opening Net resources Transfers Gains1 losses Closlng Unre5trlcted funds General fund Desi8nated fund Total unrestrlcted funds 191,007 75,000 266,007 39,651 9.493 240.151 75.000 315,151 39,651 9,493 Restrlcted funds St. Leonard's Quarter Other Total restrlcted funds 5,OCX) 368 5,368 5.0 391 5,391 9,516 9,516 19,4931 {9,4931 Capltal funds Property fund Investment fund Total capltal funds 1,095,0 306,485 1,401.485 240,CNJJ 7,133 247,133 1,335,CMIO 313,618 1,648,618 TOTAL FUNDS 1,672,860 49,167 247,133 1,969,160 The PCC has resolved that a sum of funds should be deslgnated, to cover future bulldlng costs followlng the Quinquennial review and In relation to works we have been looking to complete over recent years. If these monies are not required, then we will release the fund5 back to General funds.
St Leonard's Annual Report and Accounts for the year ended 31 st December 2024 15 Statement of flnanclal actlvlties for the year ended 31 Decernber 2023 ilnrestrfrted Restrlrted lund5 funds Endowment fvnds Total fund5 Prioryeor fvnds Incomlng resources Incoming resource5 from generated funds -voluntary Income -Activltles for generatlng funds -Investment Income Incomlng resources from charitable activities other incoming resources Total Incomln8 resour¢e$ Resources Used Charltable activitles Govemance costs Other resources used 267,568 351 267,919 332,422 6,501 56,280 17,951 6,$01 65,545 17,951 5,963 52,665 16,582 9,265 82,650 92,266 82,650 440,566 96, 750 504.382 348,300 334,138 83,CNJI 417,139 464.907 Total resources used 334,138 83.001 417,139 464.907 Net Income l (expendlturel 14,162 9,265 23,427 39.475 Transfer5 Gross transfers between funds- In Gross transfers between funds - out Net Income l {expendlture) 9,265 9,265 23,427 23.427 39,475 Other retognlsed qolns/losse5 Gainsl105ses on Investment assets Galns on revaluatlon, fwed assets, chariW5 own use Net movement In fvnds 22.324 22,324 134 827J 23,427 22,324 45,751 4.648 Reconclllatlon olfvnds Total funds brought forward 242,580 5,368 1,379,161 1,627.109 1.622,461 Total funds carried forward 266,IxJ7 5,368 1,401,485 1,672,860 1,627,109 19
St Leonard's Church I x('l£'i Annual Report and Accounts for the year ended 31 st Defflber 2024 Independent Examlnerfs report to the PCC of St Leonard's Church I report on the accounts of the PCC for the year ended 31 December 2024, which are set out on pages 10 to 19. Respective respon51bilities of the PCC and Independent examiner As members of the PCC you are responslble for the preparation of the accounts: you consider that n audit Is not required for thls year under sectlon 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the 2011 Act,. follow the procedures lald down in the General Directions 8iven by the Charlty Commisslon under section 14515llbl of the 2011 Act,. and state whether partictjlar matters have come to my attention. Basls of Independent examlnerfs report My examinatlon was carrled out In accordance wlth the General Directlons 8Sven by the Charity Commlssion. An examination includes a review of the accountln8 records kept by the PCC and comparlson of the accounts presented wlth those record5. It also includes consideration of any unusual items or disc105ures in the accounts and seekln8 explanations from you as PCC members concerning any such matters. The procedures undertaken do not provide all the evidence that would be required Sn an audit, and consequently no oplnion Is given as to whether the accounts present "true and fair view. and the report is limlted to those matters set out In the statement below. Independent examlnerfs ststement In connection with my examlnation, no matter has come to my attention: which glves me reasonable cause to belleve that in any material respect the requlrements.. to keep accountlng record5 In accordance wlth sectlon 130 of the 2011 Act; and to prepare accounts which accord with the accountlng records and comply with the requlrement5 of the 2011 Act have not been met,. or 2. to which, In my opinion, attentlon Should be drawn In order to enable a proper understanding of the accounts to be reached. Signed: Date.. Ig vl. ZoZ£ David Tolhurst FCA 11 Lilley Walk Honiton Devon EX14 2EA 20