REGisfERED CHARrrY NbMBER: 1128520 REPORT OF THE TRLISIEES AND IA FOR THE YEAR ENT)ED 31 DECEMBER ?023 FOR THE P C C OF THE ECCLESIASTJCAL PARISH OF ST MJCHAEL'S KtNGSTEIGNTON wtrH ST PETER & ST PALI'SL TEIGNGRA (1wtered Accouutants & ?2 Union Stre& D￿'On TQ122JS THE P C C OF THE ECCLESIASTICAL PARISH OF ST MICFL4EL'S krN'GSTEIG￿O TII ST PETER & ST PAUL'SL TEIGNGRACE TENTS OF TH_E ANCIAL STA.TEN(ETh_ h Y¢Ar Ended 31 December 2023 for Re￿rt of the TrU￿teS Indepe￿Ient Examin&s Rewrt ststement of Financial A￿1vItieS Ba]at)ce Sheet Notes to the Financial Ststements 10 to 14 Detailed Sthtement of Fina￿131 Activities 15 to 16 THE P C C OF TIIE ECCLESL4STICAL PARISH OF ST MI FLAEL'S KLNGSTEIGWON ITrTfH ST PETER & ST PAL,L'SL TEIGNCJL4fE REPORT OF THE for the Year Ended 31 tkcember 202 The trLLStees present their re￿rt Mith the financial statements of the charity. for the year ended 31 December 2023. The trnsiees have adopted the provisioTLS of Accountin? and Rep￿ing b), Charities: Statement of Recommethded Practice applicable to charities preparing their accou[￿ in aceorfance ￿1th the FiDan¢i3] Rewrting Standard applicable in the . and Republic of Ireland IFRS 102) {effeetive l January 2019). OBJEcfIvES AND ACTTrlTIES Objecti%'es and actiTritie5 KIngstei￿ton M'ith Teigngra¢e PCC has the rwnsibiliry for cfroperthg Thith the incumbenL Fr Mat* Smith, in pmjnoting in the ec¢lesiastical parish the whole mission olthe ¢hurch, pastoral. evangelisti¢, so¢ial and ecurnenieal. A Church of England parish Mithin the Diocese of Exeter. our main a¢tii'iries include regular worship and prayer. itnegsing to the lThth of the g￿d news alK>ui JesLLS Christ w the people of Kingsteignton and Teigngrdce. Membe13 at active in local govemment Sch￿75 and charitie& as COLmcillor& trustets and gove￿￿)[8 while hea]in& prayer and p&storai groups are ail concerned Mith the local COllJmUTLity. Public benefit The PCC is aware of the Chartty Commissioos guidance on public benefft In Th]e Advancement of religion for the Public BenefIt' and have regard to it in their adminis(rdtion of the Partsh. The PCC believes thaL by fulfilling their re5pon5ibility to work together Mith ihe incutnbent in the Parish and CLwpeiate in all matters of concern and imp)Jtance for the promotion of the whole mission of the Church. p&stora]. evangelistic. social and ecutnenica]. it provades a benefLt to the public by.. "Providing resources and facilities for pllbltc I4Drshtp. p&%toral care and spirittd. moral and intellectua] development, Ix)th for its members and anione who wishes ￿ Ixnefii from what the Church offers-: 'Pmmoiing Christian Val￿5, and service by members of the Church in the Parish to the cornmunity, to the knefitof individua]5 and society ￿ awhole". ACHIETrT.MENT AND PERFoRm￿NCE Church attendanc¢ TheTt are 78 parishioners on the Church Ele¢toral Roll. 21 of whom ￿ Tbx testdent in the parish. During the past )'ear we held services in knth churches. which have also been aCCe￿ible on Zoorn or lii'¢stream¢d to Fa¢¢FKx)k. Average Sunday attendatlce at these was aFx)ut 50. W'e ¢ontinue kn offer h)brid seTvi¢es with people choosing to attend in person or on zooln or bv watch2ng livestreamed sm'i¢es. We havt an averdge of 40 - 50 peopl¢ attending on a Sunda). and a further 10-12 attending 7Aom. About 13 - 20 people view livestreamed seryi¢es ￿thOUgh not aiwa)s 'lii'e' and aErf>ut the 5arne nurnber engage in daily morning anivor evening prdyeron FatttKK>k. Review ofthe year- PCC The PartKhia] Church Council met four times during ?023 and the avernge attendance wa% W/. The Stsnding Committee m¢1 be￿Cen meetings where necc55ary and minlrtes of their ¢kliberations were received by the full PCC at)d discussed where necttsary. At each meeting time is spent on past events, pasts)Al ¢wY. services and festiva]s and plantking for futtwe ones. Obsetvations were made concernin4y the pattcrn ofworship alld discussions on issues raisoj. Page I THE P C C OF THE ECCLESIASTICAL PARISH OF ST MICFL4EL'S ThGSTEIGNTON' 'ITH ST PETER & ST PALL'SL TEJGNGIUCE REPORT OF THE TRIT8TEES for the Year Ended 31 Decetnber 20 ACHIETrTMENT AND PERFoR￿lANcE ReTriew of the }'ear- Church life Report frojn the Vicar: Introduction The kingstei8llton alkd Teigngrdce miss￿ Community is formed of on¢ parish within the Anglican Diocese of Exeter. in the South Il'est of England. Our primary airn is to fulfil the t￿miSeS of our baptis￿. We seek io (lo this bv.. - Growing in prd)'er, - Making new dis¢iples- - Sejving the people of Devon M'ith joy. C¢ntra] to all of these efforts is the Eucharist. which is a Cons￿ Space of Silence and peace. Fxh and every lime we meet to share this wred mea], the sai'ing e%ents ofthe first Easier are made PTesent awain. Panicipation in Mission Commwiity {MC) Worship Largest Congregations." Sunday 10.30am Eucharist in [￿ViaZIM)rn Growsng Congregations: Sunday 10.JOam Eu¢harist Declining congre￿lOns.. Norte in the euntni )'ear Smalle# Cotjgregations: 8.IM)am Euchari￿ at St Miehael's & 2￿1 Sunday Eu¢hari# * St Peter& St Paul's Following the cov1￿19 pandemic we decided to embrace the hybrid chutch m(thl promthed by the Church of England. with virtua]ty a]1 of our litiw available for access etther in person or in-petsonlon line via Zoom or Facebo()k livestreams. th.ernll: attertdances at hybrid seryices during this period have l*en aix)ui the same or greafrr than prior to the pandemÉc. In the p&st y&v we have 5eeD fifteen new p&)ple our wotshipping communtty. Agdin5t thi5. for various reasons ￿,¢ have also lost six people. P&ti)rdl Care in the Mission Community It is difficult to tell whether the very. PDsKlii'¢ developmeni arose durin" the pandemic amongst lay members of th¢ Mission Community whereby they were much active in caring for one another. M'tth telephone ca]Is, Facetime and Z￿￿ meetings. continued. This wa5 a living with¢ss to Chrisiian cornmittncnt aThl it would be a major backward step forthe if there was a return to pr¢-Pat]demi¢ patttttLS of lthviour. The online data file develtkped by Jos whth she a church￿arden h&s continued ty be invaluable in enablÈng ¢1¢ and laity to track and rnonitor the levels of pastoral supEort pmvided to each p3rti¢Tpant within the Mission Community. Clergy have continued to provide trlephone and face ￿ face p2Storai visits. Telling others Jes￿% As I hav¢ said in many rep)rts wior kn thi& anyone is Wti5ed has this obligatii)n. The easiest way ￿ do this is to jk to our family and frxends about wh). we come to churcK join Z(x)Tn •Jd Livestream serviees. It remains the that we all have to Challenge our5elvcs over the Lxtent to Vihich we are doing tht& Other vehicles ai'ailable to the Mission Communiry for &)ing this include: - Our ivebsite. which has continued io see g¥oHth in traffic in the )'ear to 9th February {6614fvpage views lup 30.20A from the figure5 listed last J'ear ill my R4￿)). - The Church of England5 web5itE which is reporting l 1102-page NTrews An the lasi Ye￿ for St Michael's lup 33.Y/o yrar-on-yearl. Since the t￿t￿tr with Teigngrdce. there is no longer a s¢paTate achurchnearyou page for St Peter & Si Paul's and so no dats available for ￿l$Its there throuJJ the Co*E website. - The Mission Community FaceiNM)k page, wthich now has 129 metnbers lup 14.1 /0 Y￿ on year). We live5treaTn a Eu¢harisi every Sunday, atffdCtiDg 8n)thing from 3 to 2(￿ views exh week. Fr Mwk also p05¢5 Morning and Evening Prayer each day and these attracl a similar numbei of vtew5. Learning aboui our Fairh If we grow as Christians and be ¢onfident in telling others aknut what it is in which we believe and hope, we need to learn about our faith. Page 2 THE P C C OF TIIE.E£CLESIASTI_CAL PARISII OF ST MICFL4EL'5 KINGSTEIGNYON WITFI ST PETER & ST PALL'SL TEIGNGRACE REPORT OF THE TR for the Y&qr Ended 31 D¢ttmber 207 ACHIEVEMEYT AYD PERFOR111￿NCE The main learnino Op￿rtUn￿ a&￿lable in the MC d￿r￿)g the last j'ear lJa5 betn the Lent discu55ion group. This attracted &IO participants each wttk tt ran. Ministiw to Children & Young Families Messy Church continues to achith'e attendances of arow)d 50+ po)ple. 25-30 of whom are childr¢n. It 15 g(x)d N'o additiona] people from the MC are now part of the Messy Chur¢h Team but there are still plenty of OPFthunities for more trf our churches to contrÈbute to the ru[￿ing of this major illitiaiil'e for ¢hildren and N'oung families. Fr Mark continues to E]ndertake Assemblies and Cl￿ visits for St Michael's Schfy)l and the S¢hcKTrl regularly hold theiT end Lif t¢nn setvices in Si Michael's Church. This year IndE￿dual }'&ir from St Nlichael's Sch￿] have also been running assemblIe￿$er¥7¢eS for patents in St Michael's Chlwch, on a mollthi). rot& This has attracted an￿Vhere from 40 to IO0+ parents anthor other famil). members. Exyerience events have ¢onuThued at St Michael's. They are an impN)>tsnt op￿ttInIty for PTa¢tising Christians io t￿k with children aly)u¢ the Christian faith. The evcnts continue to be well re£eived by the primary s¢hools. Thanks to I who have contributed to this va). iTll￿t aspect of our life as a parish. Praj'er Life Activities lo Sup[￿ and grow our prayer life togL%her have continued to include: - The Sunday LivestTeanQZoom Eucharists and Sunda) Evensong in t￿On and by Z4x)m/Jivestre4m: - Morning and Eveninu Pra)'u on FacelKK)k and 1.ouTu￿. - Provision of electronic copie5 of Sunday 5eTmOllS; - encour￿￿]n￿r use of Church of England on-line Ad&ent ma￿laIs. - encourdging use of the c-h1￿Ch of England Lent ma￿rialS for and reflection. Music and Bells The bell-ringers ¢oniinve io Pwlice on Wednesday evellillgs and art always jw to welcx)me new volunteers to ring on Sunda). mornings. The Cl)oir continues io make a majoreontn￿utlO￿ ￿ the qua]ity of singtiig in Chwch. Communitv Etjgagemertt The m3in attivities in this regard have bea] on line and Incl￿.. - itlcreastng the amoutrt and Tr'ariety of inforrnation available viathe &Mi5sÉon Community Nebsile. - wtjning the publicly ai'ailable FaCeb￿k we for the Mission Community" running the publicly available YouTube page. There are nou. also regular advenisements of services in the MC in the Devon Adi'ertiser. Fr MaAc regularly attend5 Towi Council Meeting% M'here he prwJ'er5 at the 51art and sws for much or all of the following mttting. Our faithful tealn of churchyard rnaintainers have ￿ni]nUed the work of community engagement by developing thi5 SOUT¢¢ into a more welcoming space for those w￿hIng to pass through or to sit arjd think. lljeir work h&% gener￿ed a uThber of ￿sitive comments to Fr Mark and churchwwdens. li also led to the award of a Certificate of Merit in the Annual Best Kept Churchyard cornpetition ruD through the Diocese of Exeter. Finartces Thank )'ou to all have given financiaE]y to our MC in 20J? . The combined Common Fund {CFI assessma]t for ow MC w&$ £49:164 (or £9461MEekl. Running and building mait]tenance costs have io be *lded io this. Our MC Common Fund obligation ￿aS in full. The amount we need to Taise in 20?4 acn)ss ¢hurthes is £49.017 {or £9431weekl. to M'hich. of ¢outsY. nJnnKng and building maintenance costs must also be a Suth T¢S¢ri¢tions and so th¢se aTe th¢ k¢y ones when calculating the overdil opeT*ionat Triability of the .Mi55aon Communitj.. The problem ￿'e have is ihaL we anticipate that the deficit on our Unrestrided accounts w&s arolmd £2]0￿ in ?023. Safeguarding 5tstemellt I confirm that the PCCS of Si Michael's Kingsteignton and S¢ Pder &. Si Paul Tel8ng￿e comply w'ith their duty under section 5 of the Safegllarding and Clew Distipline Measwe ?016 to halt due regard to House of Bishops, guidance on safeguardin(r children and vulnerable adults. Tht) do this by: - Having adopted a Mission Community Safeguarding Policy that incorw>r&es the Excter Di(Kesan Safeguarding Policy: - Operdting Safer Recnjitmeni - Apwinting Safegllarding OfficeTS and publishing their names and detail4 a]ong with the Childline telephone number. in the ￿[Ch of tach church and on our ivebsite.. - Including Safeguarding as an agenda item on eath agenda for PCC and Ifc St2nding Committee meetings FINANCIAL REVIEW FinanciaI reviem Total receipts on ordinaTV unfEstricl¢d fund5 W¢TC £ 95.843 and are ddailed in the financia] ststeTtJents. £ 93,771 was S￿￿t to provide the Christian millis￿ from KingsteigThton Parish ChurclL includin. the conthbution kn the diocesan paTi5h share. which lar£elJ' prO￿deS the stipends and housin£ for the cler&v". The Sum that the chuTches in the diocese hai'e kn find is shar¢d between the chwches according to a forn]uta that is b&5ed maini), on the head count of th¢ Congregatio￿ and partly on Ihe electordi roll. The net resu]t for the year an excess of receipts over Trdymahts on the unre5tyiCted genera] account of £2.072 Adding this sutplu5 and investment revaluation to the bank balances at the of the year gives a figure of £897.978 balalhce on the UTLrestricted fuTwJ at il DecemF£r 2023. RU¢￿eS policy It is P('C ￿11¢Y io mait)tain a balance (ffl uEtresthcted funds (if w>ssible).. which equ*es tt) appnximately six months. unrestricted payments. to cover emergeno. Sill￿10￿$ th* may arise from time to time. The balance of free resetves of £326261 on funds at the )earaend met this criterion. It is our EK>licy to invest our fimds batanees M'ith the CBF Church of England tkwsii Fund. Pa8e4 THE P C C OF THE ECCLESIASTICAL PARtSH OF ST MICFL4EL'S klNGSTEIGNfON IIqTH ST PETER&. ST PAITL'SI. TF.ICJN'CIlL4 RF.PORT OF THF. TRlISTEES forthe Year Ended 31 December 2023 grRUrfu￿ GOVERN'ANCE ￿LL￿AGE1¥lEYr Golerning doculDe￿t The charity is a)ntrolled by its governing d(xumeTh¢ and conyitutes an unincorymted charity. Stsnding committee The charity is controlled by its goyerning documeni a deed ofmrt and COn￿[￿e$ unincorwbrated charily. Thi5 15 the only committee required by law. li has kK>Mrr to tra1￿ the business of the PCC beN'een meetings subject to any directton5 given b). the Council. The mem￿￿$ aJY.' Fr Mwk. SmitK The Revd Sandra Gill. . la Cox and Mrs Jaekie Edwards. Mr Ian Avery, Miss joce1￿) Sutnner. Mr Tony Co.¥. IMTS Susan A￿'ery. MfS.4n (HiJ,Vice Chair:DeaneTr S)'nod Mr5 J Edw7rds Warden from 041?i. PCC Meml*r-C(￿opted D Moore Deanery S)'nLKI Mr5 S E Aver). PCC member N Birt PCC tnember Mrs D Birt P('C memiw (resigned 16.423) Mrs A Cox PCC member Mrs G Cox PCC member (resi￿ 16.4.23) J Joliffe PCC member J Sanders PCC member Mrs D Southall PCC member Mrs E Thompsoll PCC ]nember {apwinted 16.4.23} Mts J ￿'arren PCC Member(aP￿]nted 16.423) Miss T Bull(Kke Secretary. T Cox Treasuftr Independent EYAtllther lall Barrett BaTtrtt5 Chartered Accountants & Chartered T￿.4dVIserS 22 Union Street Newton Abbot Dev¢)n Approved b). order of the FK)ard of tnlllees on 17 April ?024 and signed on its behalf by.. Kli, jkniiLI Revd Dr M Smith. Tn￿e¢ Page 6 INDEPENDENT EXA ER. REPORJT Q￿E￿L's1EEs QF. HE P Q£QF.T_HE_.ECCLESL4STICAL PARISH OF 8T MTCHAF.l.'S KtNCJSTF.IGNTON WITH ST PETER& ST PAIIL'SL TEIGNGRACE Independent examinerfs report to tbe tr￿sttt$ of The P C C of the Ecclesiastiul P*rish of Si Michael's Kingsteignion with St Petrr & St P#ul'sl TeigDgrn¢e I report to the ¢harity r]wtees on my examinalion of the accounts of Th¢ P C C of the Ecclesi&stica] Parish of St Michael's Kingsteignton ￿7th Si Peter& St Paul'sl Teigngrdce {the Trust) forthe )ear ended 31 December 2023. RespO￿$1b11ities and bas￿ of report As the chanty tn]stees of the Trust you are res￿)￿$1b1¢ for the prepardtion of the xcounts in accordance with the quiretnrnts of the Charitie5 Act ?01 l ('the Al￿. I report in respect of m). examination of the Tn]st's accounts carried out under Se￿ion 14) of the Act and in canyints out my exainination I have follo￿.ed a]1 applicable Directions given b), the Chariti, Corntnission under Section 14515llbl of the Art. Independent ex#tlliller'5 5t#temeDt I have ¢ompleted my cxarninatlo￿. l ¢onfiTm that Thaleriai matt¢r5 have come ￿ my attention in eonnection with the examination giving me cause io klieie that in an). maiuial w.. a¢c<)untin(r records w'ere not kept in re5pert ofthe Tn￿ &s rquired by Section 130 of the A¢t' or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the forn] and content of accounts set out in the Charities (Acc4)unts and Rep)rtsl Regulations ?008 other than any requirelnent that the accounts gve a true and fair view which is not a mattereonsidered as part of an independent ¢￿a￿1natiOn. I have llo concerns and hai'e come acros5 no other matters in conneLlion wrth the C¥aTllTnation to ￿h1¢h attention should be draMTr in this report in orderto enable a prow understhnding of the accounts to be ttached. Ian BaTrett BatTetts Chartered Accountants & Chartered Adviserg 22 Llnion Street Nei¥ton Abbot Del'o TQ12 2JS Date.. tse7 THE P C C OF THE ECCLESIASTICAL PARISH OF ST mICHA.EL'S_K￿G_STEKGNr0N I'ITFI ST PETER & ST PAUL'SL TEIGNGRA STA TF.MFNT OF FINAN'CI.4L.4CTIVITIES forthe Year Ended 31 tkcember ?0?3 2023 Totsl fuDds 2022 Totsl fund5 Ln1EStric￿d Restrided fi￿d fimd otes 1￿CO￿lE AND EhWIITrIEYfs FROM tk)nations and legacies 73J142 8J71 81.413 171.964 Other trading acliTrities Investtnent incotne lJ39 67 1239 711 18J15 Totsl 9.677 10SJ20 I￿.990 EXPENDJTIIRE OPI Charitsble aCti￿tieS General fi]nd 93,771 15A71 109342 102.072 Net gain￿(loSSeS) on investtnents 2{(MM {58,683) YET INCOME 2&076 18,746 44W2 30235 RECONCILIATION OF FUINDS Total fi￿dS brought forward s11.￿2 336J35 1.148237 1.118.002 TOTAL FUNDS CARRIED FORWARD &17,978 355,081 I,J93,059 The notes fonn part ofthese financial statements THEPCCOTr THEEC LESIASTtC-AL PARtSH UF ST MICIL4EL'S KINGSTEIG¥roN' WITH ST PETF.R & ST PAI.Tr.'SI. TF.IGIGRACE ALAN 31 December ?023 2023 Totsl fimds 2022 Total funds Notcs FIXED ASSETS Tangible assets Investments 2S5,iN)O 256,717 255.000 513.633 305,461 562,178 SAI,717 3115,461 817,178 768.633 CLRRENT ASSETS Cash at bank 32&951 49,620 378571 382294 CREDITORS Amounts falling due within oneyear (2h90) (1690) {1690) NET cuR￿l¥T ASSETS 326361 49th20 37SWI 379,604 TOTAL ASSETS LESS CURREf4T LIABILITIES 837978 355,1)81 J,193,059 ,148,237 NET ASSETS 837.978 35WI 1,193,059 1,148 ?37 FU￿,Ds Unrestricted funds Restrtcted fund5 837.978 355.081 811.902 336,335 TOTAL FUNDS 1.193.OS9 1.148,237 The financial statemetjts were opprovcd by the Board of Trlls*es and allthO￿ for issue i)n 17 April 2024 and were Signed on its beha]f by.. M Smith- Trustee Page 9 THE P C C OF THE ECCLESI.4STtCAL PARISH OF ST MICFL4EL'S KNGSTEIGNTON 'ITH ST PETER & ST PALI'SL TEIGN'G114 NOTF.S TO THF. FNANCIAI. STATEMEXTS forthe Year Ended 31 December ?023 ACCOLTNTING POLICIES B¥si5 of Preparing the financial stslÈments The financial 5tateTnetJts of the ¢harity.. M'hich is a publi¢ benefit eniity under FRS 102, have been prepatEd in accordance wÉth the ChaTitie5 SORP IFRS 1021 'Acc(￿ling and Rep)rtin° by CharitiES.. Statement of Recommended Pracrice applicable to chartries prewing their accounL8 in al￿[dance with the Financia] RetK>rting Staudard applicable in the LTr and Republic of Ireland {FRS 10?) (effective l January 2019}'. FInancia] RqK)rting Stand•d 102 The Financial RewFrting Stsndard applicable irt the UK and Republic of Ireland, alld the Chartties Act 2011. The financial $￿eMentS have been prepared under the historical cost conventio]4 with the exception of inv￿¢[￿ *hich are includoj at mthet valuè as modified by the revajllation of certain assets. Income All income is recogni5ed in the Statement of Fina￿13] A¢tiiities once the charity ¢ntitkMc￿ to the funds. li is pmbable th2t the income will be received and the anM)unt be measured reliably. Expenditure Liabilities are reCo￿lsed as exw)ditttre as soon as there is a legal or con5trurtive obligation committing the charilv to that expenditure. it is probable thai a trn]sftr of economic benefits Thill be requi￿￿ in 5ettleTnEnt and the arnount of the obl jtsation Can be measured reliably. EK￿dinIre i5 accourited for on an accnthls basis and has been ¢lassified under headings that aegreea* 811 cosi related to th¢ G*gory. Wh¢rt ¢osts th￿)not be directly attributed w particular headings they haNe been alliuted to activitie5 on a basis ¢onsistent ￿1th the use of resou]ces. Tangible r￿ed gs5ets The f￿hOld prOF￿ included within the tan￿l>le &ssets is the Th1￿ch HaIl. This buildin" is not being depreciated. Tax&tion The ¢hariry is ￿eMpt from tsx on its charitable adivilieg. Fund aetounting LnrestTtcted fund5 Can be used in accord•K¢ the charitsble objedives at the discrttion of the tnjstees. Restricted funds can only be used for particular restricted purw>5es within the obje¢ts ofthe Charity. Restriction5 aris¢ when specified bv the ￿nOr or fimds are rdised for particular ￿91￿c(ed purtN)ses. Further explanation ofthe nature and pwFw of each fimd is included in the no*$ kn the finantia] staiements. OTHER TRADING ACThITIES 2023 2022 Fundraising 1239 711 Page 10 coniinued... THE P C C OF THE ECCLESIASTtCAL PARISH OF ST MtClL4EL'S KtX'GSTEJGNTON IIryTH ST PETER & ST PALI'SL TEIGNGK4CE i¥ OTES TO THEEIUANCtAL STATEMENfS. ¢onltll for the Year Ended 31 Ik¢ember ?023 IF*WESThIENT INCO￿lE 2023 2022 Dilidends and interest CBF dividends {vta Dioce5el CBF illte￿ 32411 13229 6J99 15,193 2,018 22J68 18.315 TRUSTEES. RENIUINE114TIOY AND BENEFrrs The parish Organi￿ Ntr l Avery, who a Irustee and a Mern￿r of ￿ PCC, paid £4200 {2022'.£4.2001 during the j'ear. Mr5 S Avery, who 1$ also a In]stee and member of the PCC, was paid £2.4(K) 12022: Q1601 as ChU￿h Hail Caretaker. No oiher pa).rneT￿ or expttL￿ were paid to any other PCC memt*r, or t￿On closely conTLe£ted to them or related parties. Tru5tees' expenses There were no trustees, e¥r*nsts paid for the year entsl 31 December *023 nor for the year e]]ded 31 D￿ember 2022. COTrIPAIL4TIVES FOR THE STATEIIE?￿ OF FINANCIAL AcrIN'rriES Unre5trsded Resttictvd fi￿d fund Total funds IYCOME.4ND ENDOWIMENfs FROII Donations and legacies 89.501 82.463 171.964 Othertrading activities Investment income 711 18.i15 18236 Total 108.448 82.542 I￿.990 EXPEP*DrrtlRE ON Charitxblt #etivities Geneni fund 89J99 12.673 102,072 Net g￿n￿{lO$Se$l on investments (58,6831 (58,683 } NET IYCOMEI{EXPEN'DITrRE) (39.6341 69,869 30,235 RECONCILIATION OF FViYDS Tota] fimds brought forward 851536 1.118.002 T(YfAL FUYDS CARRIED FORII'ARD 811,￿>2 iJ6.ii5 1.148.237 c4)ntinued... THE P C C OF THE ECCLESIASTICAL PARJSH OF ST MtC14AEL'S KINGSTEIGNTON, 'ITH ST PETER & ST PAITL'SL TEIGXG114CE TES TO THE FTNANCTAL STATEMENTS- continued for ihe Year Ended 31 IkceTnber 20J? TLNGJBLE FIXED ASSETS FredK)Id property C.OST Ai l January 202) and 31 December 202i 255,IllJO NET BOO]i 1'.4LUE At 31 December ?Q?" 25SOOO At 31 December 2022 255,000 The PCC do not know the historic cost of the Church Hatl but th not feel the ru￿nI mat*et value is FIXED ASSET INVEsfiiENT3 Listed inv¢sth)¢nts ,%IARIKET VALITE At l January 2023 Revdu*ions 513,633 48545 At 31 Dec£mber 2023 562,178 YET BOOK VALLTE At 31 December ?023 562.178 At 31 Dec£mber ?022 513,633 There w￿e no investment &ssets 01￿lde the LT Cost or valuation at 31 Decemkn 2023 is represented by: Listed inveslments Valuation in 2023 562,178 Page 12 continued... THE P C C OF THE ECCLESIASTICAL PARJSH OF ST MICHAEL'S KINGSTEIGNTON WITH ST PETER & ST PAITL'SL TEIGXG114CE NOTES TO THE FINANCIAL STA TEMENTS- continued for the Year Ended il Decernber ?OJ? CREDITORS: ANIOITNTS FALLING DLT MITHIN ONE IEAR 2023 2022 Other creditors 2.6 2,6￿) IOIEMElYt IP* FUNDS Net movement in fimds At 31.12.23 At 1.123 Unrtstritted Genera] fijnd 811.912 26.076 837.978 Restrict￿ funds R¢stTiCted 336J35 1&746 355.081 TOTAL Fuf*DS 1,14&237 44J22 1.193.059 movement in fund& included in the aknve are &$ follows: Incoming Resources expended Gwns and losses Movement in fijnds L'Drestricted funds General ￿nd (93.771) 26.076 Restritted Restricted 9thTI (1&471) 24540 18,746 TOTAL FIIIYDS 10552 (1119242) 44022 C•mparatives for mo>'emetht ID fwhds Net movemeni in fimds At 31.12.29 At 1.1.22 Lllrestricted Generd] fijnd 851.536 139.6341 81].￿2 Restricted funds Restricted 266,466 69,869 336J35 TOTAL FLNDS 1,118.002 30235 1.148,217 Page 13 conrinued... THE P C C OF THE ECCLESIASTICAL PARISH OF ST M]CFL4EL'S KtNGSTEI 'ITH ST PETER & ST PALIL'SL TEIGNGlbiCE NOTES TO THF. FINANCIAI. ST.4TF.MFNfg. - coniinued foi the Year Ended il tkcetnber 20? MOvENIEp￿ IN FUTriDS- continued Comparative net tnoyerne￿ fi]nd& included ill the are follows: Incoming Gaills and lows Movemtnt in fvnds l.:nrestricted funds GeneTa] fijnd 108,448 (89099) {58.6831 139,634) Restricted funds Restricted 82.542 112,673) 69.869 TOTAL FLIliDS 19).990 1102,072) {58.6831 30.235 io. RELATED PARTh. DISCLOSITRES There were tKTr related party transaL*iow forthe yearenda 31 December2023. Page 14 THEPCC FTHEEC LESIASTI .4L PARISH OF ST MICFL4EL'S kINGSTEIGNTO WITH ST PETER & ST PALL'SL TEIGNGRA DF.TAII.F.D STATF.m￿F OF FtN'ANCIAI. ArrtvrriF_S for the Year F.nded 31 De¢ember 21123 2023 2022 INCO￿lE ￿ND ENDOIVMEYrs Donations 4nd Iweies Gift aid donations tncome tax recoverable Colle¢tiOll5 Other givin Restoration fimd Organ Fund Church hall Wedding & funeral fees Fland be115 Insurance claims & other income lrtcome from St Peter& St Paul Choir Hffdting OYganisVveTger 42,1174 7,076 227 IJ 157 28 180 9,8iO 7J61 39,528 17,491 1.148 8,957 529 10.369 11.041 1,761 81,040 630 81.413 171.964 Other trading gctivities Fundraising 1239 711 IDve5tment iDcome Dividends and interest CBF dii'idends li'la Diocese) CBF interest 3240 13229 399 504 15,193 2.618 22 18J15 Tot#1 irttomillg resou￿¢5 105520 190.990 EXPEIYDITLRE ChAritsble Athryties Missionary & charitable￿VIng Common FuTLd Cler£v expenses Costs of sm'ices Rllnning costs .Majorworks ChuT¢h Hall Organisl's salary Supwrt wsts EDBF fees 1211 49,J64 3J25 579 9.638 8,735 11ffj54 4200 617 4,415 &626 101,073 5.000 47,879 2,621 1.573 8.767 774 8,070 6,875 3,978 6.391 91.928 Re51ricted 5¢rvic¢s Carried fotm'ard This page does forni ofthe statutory financial statemer Page 15 TIIE P C C OF THE E(￿lASTICAL PARISH OF ST MJCHAEL'S KP%GSTF.IGNTO WITH ST PETER & ST PAL.L'SL TÉIGNGRACE DETAILED STATEbqENT OF F￿ANCIAL ACtIVlTIES for the Y&ir En ed 31 D¢¢gnJber ?0*3 2022 Ch4ritsble aettTrities Bn)ught forward Athninistration 101,073 2J07 2J02 1,130 2,430 91,928 6,474 1.430 2240 Church)'ard Organisrlverger fees 109242 102,072 Totsl resour¢es expended 109242 102.072 IY¢t (¢xpenditureYmeomt {3,7221 88,918 This page i*)¢s not fom) of the stswtory firwi¢iaJ statements Page 16