REGISTERED CHAIUTY NUMBER: 1128520 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENrs FOR THE YEAR ENDED 3 1 DECEMBER 2024 FOR THE P C C OF TFIE ECCLESIASTICAL PARISH OF %T MICHAEL'S KINGSTEIC)NTON WITH ST PETER & ST PAIIL'SL TEIGNGRACE Battetts Chartered Accountants & Chartered Advisers 22 Union Street Newton Abbot Devon TQ122JS
THE P C C OF THE ECCLESIASTICAL PARISH ()F %T MICHAEL'S KINGSTEIGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE CONTENTS OF THE FJNANCIAL STATEMENTS for the Year Ended 31 December 2024 Page Report of the Trustees I to 6 Independent Examiner'5 Report Statement of Financial Activities Balance Sheet Notes to the Financial Staternents 10 to 14 Detailed Smement of Financial Activities 15 to 16
THF. P C C OF THE ECCLESIASTICAL PARISH OF ST MICHAEL'S KINGSTEIGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE REPORT OF THE TRIISTEES for the Year Ended 31 December 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Rew)rfing b Charitie%= Stsiement of Re¢omrnended Practice applicable to chariiies preparir]g their accounts in accordance '1th the Financial Reporting Standard applicable in the UK at]d Republic of Ireland {FRS 102) (effective l January 2019). OIUECTIVES AND ACTivrrIES ObjectÉves attd activitie5 Kinggieignton with Teiwgrdce PCC ha5 the responsibility for co-opernting il'ith the incumbent. Fr Mark Smith. in promoting in the ecclesi&stical parish ihe whole mission of the church. pasioral, evangelistic. social and ecumenical. A Church of England parish within the Diocese of Exeter, our main ]vitieS include regular worship and pra)'er. 'itne55ing to the truth of the good nthvs aboui Jesus Christ io the people of Kinoszeignton and Teigngrace. Members are active in local govemment. schools and charitie& a5 councillor& twstees and governors. while 'Experience'. Messy Church and pastordl care are a¢tiN'e in the local community. Public benefit The PCC is aware of the Charity Commissions guidance on publi¢ benefit in "The Advancetnent of religion for the Public Benefit" and have regd to li in their administration of the Parish. The PCC belieN'es thaL by fi&lfilling their responsibilitv to work wgether with the inculnbeni in the Parish and ¢o-opeta(e in all matters of concern and importance for the promotion of the whole mission of the Churc14 pastornl, evangelistic, social and ecumenical. it provides a benefit to the public by= "Providing resources and facilities for publi¢ worship, pastoral care and spiritithl. mornl and inlellectsal developmen( both for its members and anyone who wishes to benefii from hat the Church offers". 'Promoting Christian kalues, and servÉce by meTnber% of the Church in the Parish to the collununity. to the benefit of individuals and society a% a whole" ACHIEVEMENT AND PERFORMAf4CE Chureh attendance There are 82 parishioner5 on ihe Church Eleaoral Roll. 22 of wholn are not resident Kn the parish. During the past year Ive held services in both churche5. which have also been accessible on Z4)om or IiN'c5treamed to Facebook. Average Sunday anendartce ai these w&s al)out 50. We continue to offer h}'brid se]CeS people choosing to attend in person or on zoom or by watching livestreamed service5. We have an aver4oe of 50- 60 people attet]ding on a Sunday and a further 10-12 attending via Zoorn. Some 30+ peopl¢ view livestreamed seTrices although not always 'live'_ Review of the veaT- PCC The Parochial Church Council met four times during 2024 and the avttage attendance w&8 90/•. The Standing Committee mei between meetings where ne¢essary and minutrs of their deliberations Th'ere rK¢ived by the full PCC and discussed where necessary. At each Tneetino tirne is spent on reviewing p&st events. finances. pauordl ¢4re. services and festivals and planning for future ones. Observations were made concerning th¢ patt¢m of worship and discussion5 Oll issues raised. Page I
THE P C C OF THE ECCLESIASTICAL
PARISH OF ST MICHAEL'S KINGSTEIGNTON
wI"rH S'I. PE'FER & ST PAUL'SL I"EIGNGRACE
REPORT OF THE TRUSTEES
for the Yeat Ended 31 Decetnber 2024
ACHIEVEMENT AI%D PERFORMANCE
Review of the year- Church life
Report from the Vicar:
Introductior]
The KÈngsteignton and Teigngrace Mission Community is fornied of one parish within the Anglican Diocese of Exeter,
in the South West of England.
Our primary aim is to fvlfil the PTQrniSes of our bzptlSTn.
We seek to do this by..
Growing in pra)'er,'
Making new di5ciple5'
Serving the people of Deyon with joy.
Central to all of these efforts is the Eu¢harisL which is a Constant space of silence and peace. Each and every time we
meet tts share this sacred meal, the savino events of the first E&tter are made preseni again.
Participation in Mission Communif), {MC) Worship
Largest Contstegation5.' Sunday 10.30am Euchari in persolvvia Zoom
Growing Congregations.. Sunday 10.30am Eucharist
Declining Congreoations: None in the current l'ear
Smallest Congregations.. 8.00am F.ucharist * St Michael's & 4th Sunday Evensong ai Si Peter & St Paul's
Following the COVID-19 pat]demic we decided to embrace the hN'brid church Tnodel plom0d by ihe Church of
England, with virtually all of our lityrgj. available for access either in person or in-peTSOrn'on line via Zoom or Facebook
livestreams. Overall, attendaT]ce5 at hybrid services during this period have been about the same or greater than prior to
th¢ pandemic.
In the past year we have seen four new people join our worshipping ¢ommunity. Against this, for various reasons.
including passing on
to glory and moving away. we have also lost nine people.
Pastoral Care in ihe Mission Community
It Is difficult to tell whether the verv positive development that arose during the pandemic amongst lay members of the
Mi55ion Comrnunity. whereb). they N'ere much more aCtIe in caring for one anoth¢r, with ielephone calls. Facetime and
Zoom meetings, has continued. This was a living witness io Christian ctsmm51ment and li M'ould b¢ a major backward
step for the MC if there M'&s a reium to pre-pandemic patterns of behaviour.
The Onlin¢ data file developed bj. Jos when she w'&s a churchwarden has coniinued to be invaluable in enabling clergy
and laity to track and Tnonitor the levels of paMoral support provided to each p3rticipant iTr¥'ithin the Mission Community.
Clergy have continued to Provide both telephone and face to face pastoral visits.
Telling others about Jesus
As I have said in man). reports prior io thi& anyone who is baptised has this oblagaiion. The teSt way (o do ihis is to
talk to our famils, and fr"tends about whv we come io church. join loom and Livestream services. li remains the case
that we all have to challengc ourselyes over the exient io M'hich we are doing thi5.
Other vehicles available to the Mission Community for doing this include..
Our website, which has coniinued to see growth in traffic in the year 10 9th Febryarv (78,97&page view5 lup 19.4 /
froTn the figures listed last year in rny RewJrt))-
The Church of England's
THE P C C OF THE ECCLESIASTICAL PARISH OF ST MICHAEL'S KtNGSTF.IGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE REPORT OF THE TRUSTF.F.S for the Year Ended 31 Decernber 2024 ACHIEVEMENT AND PERFORMANCE Learning about our Faith If we are to grow Christians and be confidenl in telling others about what it is in which we believe and hope, we need to learn about our faith. The main leaming opportunyt). available in the MC duTing the last year ha5 been the Lent discussion group. 'I'his attracted 5-8 participants each week il ran. Ministy to Children & Y(Trung Families Messy Church continues to achieve attendance5 of atound 5(FF people. 25-30 of whom are children. There remain plenty of opportunities for more of our churches to contribute to the running of this major initiative for children and oung familie5. Until his current ill health. Fr Mark Coniinued to undertake Assernblies and ¢lass visits for St Michael's School and the School regularly hold their end of tertn services in St Michael's Church. In addition, individual year groups frorn St Michael's School have also coniinued io run assemblieslservices for parents in St Michael's Church on a rt]onthly rota. This attracted anNwh¢T¢ from 40 to 100- parents andiol other family members. Experience events hai'e continued at St Michael's. They are an imporroni oppornjniri for practising Christians to tatk with children abOt thc Christian faith. The eveT]is coniinue to be well received by the local primary schools. Thanks to all who have contributed to this very impor1 asped of our life as a parish. Prayer Life Activities to support and grow our prnyer life togetheT have continued to include= . The Sunday LiN'estreamlZoorn Eucharists and Sunda) Evensong in person and by Zootnllivestream" Moming and Evening Prayer on Facebook and YouTube: encouraging use of Church of En(rl2nd on-line Ad%ent materials- encouraging use of the Church of Et]8land Leni ma(eria15 for prayer and reflection. Music and Bells The bell-ringers continue to pra¢lice on Wednesday evenings and are always happy to welcome new volunteers to ring on Sunday moTnings. There has been an enjovable and M'ell attended club for pupils from St Michael's primary h0o1 .ho want to explore the art of bell ringing. The Choir continues to make a major ¢ontyibulion to th¢ quality of singing in Church. Community Engagement The main activities in this regard h&ve been on line and include= maintaining the Mission Cotnrnunic). website. running the publicly available Facebook page for the Mission Cornmuniry. runninu the publicl). available YouTube page. There continue to be regular advertisemellts of seryices in the MC in the Mid Devon Advertiser. Fr Mark regularly attends Town Council Merfings, where he leads Prayers at the start and 5ta)'s for much or all of the following meeting. Our faithful teaTn of churchyard maintsiners have ai50 continued the work of cornmuT]ity engagement by developing this resource into a more M'elcoming space for those wishing io pass through or t(Tr sit and think. Their work has generated a number of posilive comments to Fr Mark and churchwarden& and has further improved the biodiversity. of the space. Finances Thank you to all who have uiven financiallv to our MC in 2024. Th¢ combined Comtnon Fut]d (CF) assessment for our MC was £49,017 (or £9431week)- Running and building maintenance costs have to be added to this. Page 3
THE P C C OF THE ECCLESIASTICAL PARISH OF 8T MICHAEL'S KtNGSTEIGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE REPORT OF THE TRUSTEES for the Year Ended 31 Decernber 2024 ACHIEVEMEf4T AiYD PERFORMANCE Our MC Common Fund obligation was mei in full. The amount we need io raise in 2025 ro$S both churche5 Ks £49.465 (or £951,.we¢k), to which, of course, runnir>g and building maintenance costs must also be added. The main source of in¢ome to meet this lae figure is giving by members of the church. Sadl)., it remains the case knth churches are dependent upon a limited number of generou5 givers. During 2024 it has remained clear that income from regular giving is substantially less than the total expenditure required to run the Mission Community. Complexities arising frorn the existence of Rc5tricted and Unrestricted accounts make it difficult to give a clear p051tion. For clarification: in the forTner there are Severe restrictions limiting on what the money ¢an b¢ spent; in the latter there are no such ¥estrictions and so these are the key ones when calculating the overall operational viability of the Mtssion CoTnrnunity'. The problern have 15 that the giving snto Unrestricted church accounts was around £15.000 less ihan expenditure in 2024. ThLS was covered by using the income from interest and dividends on our capital. Th'hich 15 riot a long-terni solution because it means the rtal value of our savings continues to be eroded by inflation. SafeguaTding staternet]t l ¢onfITm that the PCCS of St Michael-"s Kingsteignton and St Peter & St Paul Teigngra¢e comply with their duty under section 5 of the Safeguardsng and Clergy Discipline Measure 2016 to have due regard to House of Bishops, guidance on safeguarding children and vulnerable adults. They do this by= Having adopted a Mission Ctsmmunitv Safeguarding Policy that incorporates the Exeter Diocesan Safeguarding Policy; Operating Safer Recruitmeni. Appointing a Safeguatding ol¢er and publishing iheiT name and contsrt detai15. along with the Childline trlephone number. in the porch of each Church and on our webSi- Including Safeguarding as an agenda iiem on each agenda for PCC and PCC Stknding Cornmittee m¢¢iings Fr Mark Smith, Febnlary 2025 FINATrICIAL REVIEW Financial review Total receipts on ordinary unrestricted funds were £ 113.690 and are detailed in the financial sta*ments. £ 92,004 was spent lo provide the Christian minists). from Kingsteigt]ton Parish Church, including the coniribuiion to the diocesan parish share, M'hi¢h largely provides the stipends and housino for the clerg),. The Sum that the chuiches in the diocese have to find is ghared between the churche5 according io a forniula that 15 based mainlN' on the head count of the congregation and partly on the electoral roll. The nel result for the )'ear was an excess of receipts over payments of £ 21,086 Adding fhis surplus to the bank balances at the Ixgillning of the )'ear gives a fiuure of £ 823.024 balance on the unrestricted fund at 31 DeceTnber 2024. Reserves policy It i5 PCC poliey to maintain a balance on unrestrithed funds (if p055ible), which equates to approxitnately six rnonth5' unrestricted payments, to cover emergency siNations may arise frotn time to time. 'I'he balance of free reserves of £341,675 on UnresCled funds the )'ear-end this criierion. It is our policy to invest our funds balances with the CBF Church of England tkposit Fund. Page 4
THE P C C OF THE ECCLESIASTICAL PARISII OF ST MICIIAEL'S KtNGSTElG0N WITH ST PETER & ST PAUL'SL TEIGNGRACE REPORT OF TFIE TRUSTEES for the Year Fnded 11 i)eceTnher 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by its governing documenL and coLsiiwtes an unincorporated charity. Standing comrnittee The charity is controlled b}. its governing docurnlL a deed of tTUSL and ¢onstitutes an UllincOTporad Charity. This is the only committee required b). law. It ha5 power to trdll5act the business of the PLL between meetings. subject to any d1ctionS given by the Council. The members are.- Fr Mark Smith. The Revd Sandra Gill. Mr lan Avery, Miss JOce1N Sumner. Mr Tony Cox, Mrs Susan Avery, Mrs Angela Cox and Mrs Jackie Edwards. The banker5 are Co-operative Business Bank. P O Box 250. Delf House. Southway. Ske]mersdale, Lancashire WN8 6WT. The Independent Examiner is lan Barrett of Barrett& 22 Union StreeL Newton Abbot TQ12 2JS. Recruitm¢nl and appointment ofntw trnstees The rRethod of appoit]ttnent of PCC members is set out in the ChuTch Representation Rules. Administrative Information Kinustcitsnton Parish Church is dedicated to St Michael. and is situated in Church StreeL Kingsteignton. Teigngrace Parish Church is dedicated to St Pder and St Paul. and is Situated in School Road, Teigngrdce. It is part of the Diocese of Exeter within the Church of England. The correspondence address is The Vicarage, Dam's Meadow, Kingsieignton, Devon TQ12 3UA The Parochial Church Council (PCC) is a corporate estsblished b} the Church of England. Th¢ PCC operates under the Parochial Church Cour]cil PO.erS Measure. Risk management The trustees have a duty io identify and review the risks lo which the charity is exposed and to ensure appropriate controls are in place to provide reasonable UranCe against fraud and error. REFERENCE AND ADMINISTRATIVE DETAIIS Registered Charity Durnber 1128520 Princip218ddr¢55 The Vicarage Daws Meadoiv Kingmeignion Devon TQ12 31JA Page 5
P C C OF THE ECCLESIASTICAL PARISH OF ST MICIIAEL'S KtNGSTEIGNTON WITH ST PETER & ST PAUL'%L"I"EIGNGiiACE REPORT OF THE TRUSTEES for the Year Ended 31 December 2024 Trustees Revd Dr M Smith Incumbent & Chair Revd S Gill Assistani Priest Mr l Avery Warden Miss J Sumner PCC secret 04124.vice Chair.Deanery Syjod Mrs J Edwards Warden Mr D Moore Deanetv Synod Mrs S F. Ai'ery PCC memb¢r Mr N Birt PCC tnember Mrs A Cox PCC member Mrs J Jolliffe PCC member Mrs J Sanders PCC member Mrs D Southall PCC n]eFt]ber Mrs E Thompson PCC rnember Mr5 J Watren PCC member Miss T Bullocke PCC Secretary (resigned 31.1.24) Mr T Cox Treasurer Mrs E Stevens PCC member (appointed 17.4.24) Independent Examiner lan Barrett BarttS Chartered Accountants & Chartered Tax Advisers 22 Union Street Nem'ton Abbot Devon TQ122JS Approved by order of the board of Irustees on ..... - and signed on its behalf by= Revd Dr M STnith- Trnstee Page 6
INDEPENDENT EXAMINER'S REPORT TO TIIE TRUSTEES OF THE P C C OF THF. F.CCLESIASTICAL PARISEI OF ST MICHAEL'S KGSTEIGNToN WITH ST PÈTER & ST PAUL'SL TEIGNGRACE Jndependent exarniner's report io tb¢ trustees of Th¢ P C C of F.ttlesiAStical Parish of St Michael's Kingsteignton M'ith St Peter & St Paul'sl Teigngrate I report to the charity. trustees on my examination of the accounts of The P C C of ihe Ecclesiasfical Parish of St Michael's Kingsteignton with St Peter & St Paul'sl Teign.4yrate (the Trnst) for the year ended 31 December 2024. Respon$ibÉlitie$ and basis of report As the charity truslees of -the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Ad 2011 (Ihe Act'l. I report in respect of my examination of the Tnjsfs accounts carried out under Seciion 145 of the Act and in wrying out m}. examinalion I have followed all applicable Diredions given bv the Charity Commission under Section 145(5)(bl of the Aci. IDdependent examiner's statemen¢ I have completed mv examination. I confirm th* no Material matters have come to my attention in connection with the examination giving mc causc to believe that in any material respect: accounting record5 wer¢ not kw in respect of the Trust as required by Section 130 of th¢ Act; or the aCConIS do not accord with ihose records,. or the accounts do noi c(Trmply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts gil'e a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in conne¢tion with the examination to which attention should be drdwll sn thi5 report in order to enable a proper understanding of the accowits to be reached. lan Barrett Barretts Chartered Accountants & chartered Advisers 22 Union Str¢¢t Newton Abbot Del'on TQI 2 2JS Date..
THE P C C OF THE ECCLESIASTICAL PARISH OF ST MICHAEL'S KtNGSTEIGNTON WITH ST PETER & ST PAUL'SL TEItiN(iRACE STATEMENT OF FINANCIAL AcfiviTIES for the Year Ènded 3 1 Decernbèr 2024 2024 Total fund5 2023 Total funds Unrestricted fund Restricted fund Notes INCOME AND EIYDOWMENTS FROM Donations and legacies 82,789 6,443 89332 81,413 her trading activiiies Investment income 1037 29.064 1.837 38,048 1,239 22,868 8.984 Total 113690 15,427 129 117 105,520 EXPENDITURE ON Charit8bl¢ activities Generydl fund Restricied 92,1104 15.989 109.242 15,989 Total 92.004 15,989 109.242 Net gains on invesDnents 12.88 12.880 48,544 NET INCOMEI(EXPENDITURE) Tran5fer5 between fllDds 34566 49.52(11 (562) 49520 34,OIM 44,822 Net movem¢nt fuDds (14.954) 48.958 34,004 44.822 RECONCILIATION OF FUNDS Total funds brought forward 837,978 355,IK81 1,193.Oi9 ,148237 TOTAL FUNDS CARRIED FORWARD 823.024 4(039 1327 063 1,193,059 The notes fonn part of these financia] statements Page 8
THE P C C OF THE ECCLESIASTICAL PARISFI OF ST MICIIAEL'S KtNGSTEIGNTON WITH ST PETER & ST PAUL'SL"I"EIGNGIiACE BALANCE SFIEET 31 Decetnber 2024 2024 Total funds 2023 Total funds Unrestrictrd fund Restricted fund Not¢s FIXED ASSETS Tangible assets Investments 255.WJO 226319 255,000 575 058 255,000 562.178 348,709 481J49 348,709 830,058 817,178 CURRENT ASSETS Cash at bank 344,185 55J30 399,515 378,571 CREDITORS Amounts falling due within one year {2510) (2510) 12,690) NET CURRENT ASSETS 341.67) 55J30 397,005 375,881 TOTAL ASSETS LESS CURRENT LIABILITIES 823.024 4114,039 ,227,063 1,193,059 NET ASSETS 823,024 404.039 1227,063 1,193,059 Unrestyi¢red fi]nds Restricted funds 823.024 404,039 837,978 355,081 TOTAL FUNDS 1227 063 1,193,059 The financial statements were approved by the Board of Trustees and authorised for issue on Illl hp>4'121 . ...... and were signed on its behalf by.. M Smith- TNstee The notes fonn part of these fmancial siatements Page 9
THE P C C OF THE ECCLESIASTICAL PARISH OF ST MICHAF.L'S KINGSTEIGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE NOTES TO THE FINANCIAL STATEMENTS for the Y¢ar F.nded .31 D¢cember 2024 ACCOUNTI]YG POLICIES Basis of preparing the financial sla¢tm¢nts The financial statements of the charity.. which is a public benefit entits. under FRS 102. haie been prepared in accordance with the Charities SORP IFRS 102) 'Accountin" and Reporting by Charities=" Statement of Recommended Practice applicable to charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the LK and Republic of Ireland ffRS 102) {effective l Januarv 40191,. Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK ond Republic of Ireland, and the Charities Act 2011. The financial statements hae been prepwed under the historical Cost convention, with the exception of investsnents which are included at market value. as modified by the revaluation of certain assets. Income All income is recognised in the Statement of FinancÈ81 Activitics oncc the charity has entitlement to the funds, it is probable that the incoTne will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expendiiure as won as there is a legal or constructive obligation committing the charsty. to that expendithre, it is probable that a transfer of economic benefrts .111 be required in settlement and the amount of the obligation can be measured reliabl). Expenditure is accounied for on an accrnals basis and has been classified under heading5 that aggreoaie all c05t related to the categorv. Where colts cannot be directly attribuied io particular headings thev hav¢ been allocated to actilities on a basis con515teni with the use of resources. Tangible fixed assets The freehold property included within the tangible assets is the Church Hail. This building is not being depreciated. Taxailon The charity. is exempt from rax on its charitable artivities. Fund accounting Unrestrictcd funds can be used in accordance with the charitable objectives at the discretion of the Iru5te¢s. Restricted fund5 can only be used for particular restrided PUTposes i¥'ithin ihe objects of the ¢harity. Restriciions arise when specifEed by the donor or when funds are rdi5ed for partÉcular restricted purptsses. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. OTHER TRADING ACTIVITIES 2024 2023 Fundraising 1,837 Page 10 continued...
TIIE P C C OF THE ECCLESIASTICAL PARISH OF ST MICHAEL'S KtNGSTEIGNTON WITH ST PETER & ST PAUL'SL"IEIGNGRACE NOTES TO THE FINANCIAL STATEMEwfs - continued for the Year Ended 31 December 2024 INVESTMENT INCOME 21124 2023 Dividends and interest CB Tr dividends (via Diocese) CBF interest 3240 13,229 6,399 15035 22,513 38,048 22.868 TRUSTEES. REMUP4ERATION AND BENEFITS The parish organist Mr l Avery. who ss a twstee and a mernber of the PCC. was paid £4.200 (2023..£4200) during ihe )'ear. Mrs S Avery, who is a150 a trnstee and member of the PCC. was paid £2,400 12023.. £2.160) as Church Ilall CaretakeT. No other pa)'tnents or expenses were paid to any other PCC metnber. or person closely coT]nected to them or related parties_ Trnstees expense5 There were no trustees, expenses paid for the year ended 31 December2024 nor for the year ended 31 December 2¢y23. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds Ir4coME AND ENDOWMENTS FROM Donations and lettacies 73.042 8.371 81.413 Other trading activitie5 Investmeni income 1,239 67 1.239 22.868 22,801 Total 95,843 9,677 105,520 EXPENDITURE ON Ch2ritablt attivities Genernl fund 93,771 15.471 109,242 Net gains on investsnents 24.004 24,540 48,544 NET ITrICOME 26.076 18,746 44.822 RECONCILIATION OF FUNDS Total funds brought fonvard 811,902 3i6.335 1,148,237 TOTAL FUNDS CARRIED FORWARD 837,978 355.081 1,193,059 Page 11 continued...
THF. P C C OF THE ECCLESIASTICAL PARISH OF ST MICHAEL'S KINGSTEIGNTON wirH S"[ PETER& ST PAUL'SL TEIGNGRACE NOTES TO THE FINANCIAL STATEMF.NTS- continued for the Year F.nded 31 December 2024 TANGIBLE FIXED ASSETS Freehold property COST Ai l January 2024 and 31 December 2024 255.000 NET BOOK VALUE Ai 31 Decelnber 2024 255.000 At 31 December 2023 255.000 The PCC do not know the historic CO of the Church Hall bui do not feel the Curnt maTket value is unrea50t]able. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l January 2024 Revaluations 562,178 At 31 December 2024 575,058 NET BOOK ALUE At il D¢¢emb¢r 2024 575,058 At 31 December 2023 562.178 There were no investrnenl assets outside the UK. Cost or valuation at 31 December 2024 is represented by: Lasted investments Valuation in 2023 562 178 ** TOTAL SHOWN ON CLIENT SCREEN _ REVALUATION ANALYSIS _ DOES NOT AGRIE 'I'O I'O'I'AL UF FIXED ASSET'COST, ACCOUNT HELD AT END OF YEAR IN RESPECT OF LISTED tNVESTMENTS 'COST' ACCOUNT TOTAL Cosb'kaluation blf Revaluations 562.178 12.880 575,058 CLIENT SCREEN TOTAL Page 12 Continued..
THF. P C C OF THE ECCLESIASTICAL PARISH OF ST fvIICHAEL'S KINGS I'IIGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE NOTES Ta THF. FINANCIAL STATEMENTS- continued for th¢ Year Ended 31 December 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other ¢redilors 2.510 2,690 MOVEMEIYT IN FUNDS Net Transfers between funds movement in fijnds At 31.12.24 At 1.1.24 Unrestricted funds General fund 837,978 34566 (49520) 823,024 Restricted funds Restricted 355,081 (562) 49520 404,039 TOTAL FUNDS ,193,OS9 34,OIM 1327,063 Net movement in funds. included in the above are Ls follows= Incomino resources ROurCeS expended Gains and losses Movement in fvnds Unrestricted fullds General fund 113,690 (92,004) 12,880 34566 Restricted funds Restricted 15.427 (15.989) (562) TOTAL FUNDS 129.117 107.993) 12,880 34.004 ComparAtives for MoveeNt in funds mo¢M¢nt in fidS At 31.12.23 At 1.1.23 Unrestricted funds General fund 811.902 26,076 837.978 Restricted funds Restricted 336.335 18.746 355.081 TOTAL FUI¥DS 1.148.237 44,822 1,193,059 Page 13 continued...
THE P C C OF THE ECCLESIASTICAL PARISH OF ST MICHAEL'S KINGSTF.IGNT()N WITH ST PETER & ST PADL'SL TEIGNGRACE NOTES TO THE FINANCIAI. STATEMENTS - coiitinued for th¢ Year Ended 31 D¢G¢rnb¢r 2024 MOVEMENT IN Fuf4DS- ¢ODtinved Comparative net movement in fijnds. included in the above are &$ folloS.. Incoming resources Resources expende Gains and losses Movcrnent in funds urestrIcted funds General fund 95,843 {93:771) 24,004 26.076 Restricted funds Restricted 9.677 {15,471) 24.540 18,746 TOTAL FUNDS 105.520 109.2421 48,5 44.822 io. RELATED PARTY DASCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 14
THE P C C OF THE ECCLESIASTICAL PARISFI OF SI MICEIAEL'5 KINGSTEIGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE DF,TAILED STA TEMENT OF FINANcL AcrIvrtlES foT the Year Ended 31 De¢¢mber 2024 2024 2023 INCOME AND Ef4DOWMENTS Donations and legacies Gift aid donations Income t&K recoverabl¢ Collections Other giving Restoration nd Lesacies & grants Organ Fund Church hall Wedding & funernl fees Hand bells Choir Heating Organisvverger 43,489 7,027 4J94 11.594 42.074 7.U76 227 11,857 28 1,000 70 12.130 9.528 180 9,850 7,361 540 90 630 1,500 89332 81.413 Other tradiMg activities Fundraising 1837 1.239 Investment intome Dividends and interest CBF dividends (via Diocese) CBF interest 3,240 13,229 6,399 15.535 22.868 Total incoming resources 129.117 105.520 EXPENDITURE Charitsble aetivities Missionary & charitable givIg Common Fund Clergy expenses Costs of services Running costs Major works ChuTch Hall Organisvs salary Support C051S EDBF fees Fund raising Restricted servi¢es Carried forward 10,000 49,017 3294 972 7,045 120 49.164 3.325 579 9.638 8,735 11,654 4200 617 4,415 14.572 4200 4J89 2204 1,000 2,019 98,712 8,626 101.073 This page does not forni part of the statutory financial statements PagelS
THE P C C OF THE ECCLESIASTICAL PARISH ()F ST MICHAEL'S KINGSTEIGNTON WITH ST PETER & ST PAUL'SL TEIGNGRACE DETAILED STATEMENT OF FtNANCIAL ACTIVITIES for the Year Ended 31 December 2024 2024 2023 Charitable activities Brought forward Administration 98.712 2,765 1,989 1,557 101,073 2.307 2,302 1,130 2.430 Churchyard Organi$6verger fe¢s 107,993 109,242 Total resources expended 107,993 109.242 Net intomel(expenditure) 21.124 This page does not fonn part of the statutory financi ststements Pag¢ 16