ST MARY'S PCC BRIDGWATER ANNUAL ACCOUNTS 2025 CONTENTS Annual Report Pages I to 7 Statement of Flnancial ActNities Page 8 Balance Sheet Page 9 Notes to the Accounts Pages 10 to 16 Not forming Part of the independently examlned accounts James Cook Beque5t- Charity No 240141 (administered by the Vlcar and Churchwardensl Page 17 Thè Podger's Trust Vicar and Churchwardens Managing Trustees Page 18 Emma Pearce Memorial Trust-charity No 246223 ladministered by the Vlcar and Churchwardensl Page 19 Independent Examlner's Report Page 20
THE PARISH CHURCH OF SAI MARY, BRIDGWATER BANK N8tWest Bank pte INDEPENDENT EXAMINER Kelly Davles Westcotts Chartered Accountsnts 7 Castle Street Bridgwater Somorset TA6 3DD ANNUAL REPORT AND ACCOUNTS FOR THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31ST DECEMBER 2025 Aim and Purposes St, Mary's Parochial Church Council (PCC) has the responsibility of ccpoperating with the Incumbent, Revd. Suse Osmond in promoting the ecclesiastical parish, the whole mission of the Church, pastoral, evangelislic, social and ecurnenical. The PCC is also specifically resp)nslble for the maintenance of the Church Ixjilding. Objectives and Artivities The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St Mary's. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our seNices can involve the many groups that live within our parish. Our servi$ and worship put faith into practice through prayer and SCTiPture, music and sacrament. When planning our activities for the year, we have considered the Commission's guidan on public benefit and. in particular, the supplementary guidan on charities for the advancement of religion.
In particular, we try to enable ordinary people to live out their faith as part of our pansh communtiy through= Worship and prayer Provision of pasloral care for people living in the parish. Mission and outreach The specrfic objectives for this coming year (20261 are To increase Stewardship and regular glvlng To increase worshipping numbers through the launch of Bubble Church and new pattern of worship To raise the profile and significance of our Life Groups $0 that all members are connected beyond gathered worship Vlcars Report As the civic church in the heart of Bridgwater. we are not here simply to keep a building open or to run services- we are here because we believe God is at work in this pla, in this town and in the mess and beauty of real life. Our vision to love, serve and welcome all as a nourishing communty, p8ssionate and eneryised by ourf8lth continues to shape us. And alongside it, our growing sense of mission.. to be with Jesus, becom6 like Jesus, and do what Jesus did. This is not neat or polished and rarely fits into boxes. But it is rooted in that an¢ienl call Yo aoljustly, love mercy and walk humbly with our Go(r {Micah 6'.8). In 2025. we have seen that lived out in ways that afe bolh deeply ordlnary and qui8tly transformative. This year has been one of significant change and new beginnings. The pastoral scheme bringing together St Mary's, Brbdgwater and Chillon Trinity came into effect, forrning the new parish of Bridgwater St Mary and Chilton Tnnity. As part of this, Holy Trinity ceased to be parish church, and St Mary's became the parish church for the new parish. In October, I moved from the vicarage in Taunton into the parish vicarage, which has brought a real sense of joy and rootedness. This also led to the joy of Revd. Tobie Osmond being linSed as Associate Priest to the parish. I continued on part-time matemity leave. taking Wednesdays off until September 2025. 1 am grateful for the support of the PCC, congregation and my clergy colleagues during this time. Each week we continue to welcome around 500 people through the doors of the church building. The number matter but more Ihan that, it's the stories that matter. Stories of péople finding warmth, food, lriendship, support, and sometimes just a place to sit and breathe. Our partnerships across the town have ¢onlinued to grow, particularly in response lo the realities of homelessness. We work alongside the local council, NHS and other agencies, because we believe that all people deserve dignity, care and the chance to flourish. We are especially grateful to Tony O'mara, whose leadership and compassion have helped shape this work, includlng the establishment of our Thursday dropin. It has been both a challenge and a joy. Our well-being sessions continue on Mondays and Wednesdays, alongside the many groups that now call this place home= Alcoholi¢s Anonymous, Gamblers Anonymous, Grubs Up for families, our GrLbbs Up parenting group, Babycinos, our Thursday café. bellringers, craft group and our life groups. We are committed to growing our lrfe groups- spaces where faith can be explored honestly, relationships can deepen, and people can be known. It has been a joy io see the walking life group take shape, and the group that meets at the vicarage become a place of welcome and belonging.
At the heart of bt all remains our worshipping life together. Our Thursday midweek communion continues to grow, often filling the St George Side Chapel, and our Sunday pattetn of 8am BCP and 10am Holy Communion Continues to gather people week by week. At the same time. we sense a call lo keep stretching-to make space for those who don'l yet feel at home in traditional patterns of church. That is part of the vision behind Bubble Church, which we are preparing to launch- not as a 'nice extra., but as a real commitment to children and families being at the heart of our life. This will bring change to our pattern of worship and a season of adjustment. In November, it was wonderful lo see members of our church community confirmed at Wells Cathedral. following an Alpha course run over the summer by Julie and Rich. These moments matter- not b8caus8 they tick a box, but because they represent real joumeys of faith, often shaped by courage. questions and a desire for something more. A particular highlight of the year was in M8rch 2025, when we used the Prayers of Love and Faith to bless the marriage of Vicky Cooke and Julie Mitton. It was a day of deep joy and love- a glimpsè of the kind of kingdom we long to reflect. Since then, Julie has sadly died, and so that memory n¢JW holds bothjoy and grief- as so muth of life does. In December, we held a Christmas Memorial Service in partnership with Fine Memorials space for griéf. remembrance and hope in a season that is nol easy for everyone. Alongside this, we saw the church filled for our town carol service, gathered over 100 people for a joyful Christingle, and hosted a community Christmas meal where over 98 people sat down together to share lunch. These moments are made possible by an extraordinary team of volunteers who seNe with generosity and care- they are the hearttseat of this place. We continue to face the ongoing responsibilty of caring for our building, particularly the need to address the church roof following the Quinquennial Inspection. This is not just about bricks and mortar but about stewarding a space thal holds prayer, community, history, is a vehicle for the Gospel and hope for generations to comè. Above all, we are trying to become a community where people are safe, known and able to flourish. Safeguarding is not an add-on for us it is part of the Gospel. It shapes how we18ad, how we care, and how we tske responsibility for one another. As we look ahead, the question is not simply what we will do next, but who we are be¢oming. What might it really look like for us, here in Bridgwater, to be with Jesu5, become like Jesus, and do what Jesus did? Finally- thank you. To our churchwardens, PCC, staff and volunteers, and to all who give so generously- you are the church. In the visible and the unseen, in the big moments and the small acts of servi, you are part of somethirYJ that is changing lives. And perhaps that is the simplest way to say it.. God is at work here. In this place. In these ople. In this town. And we are invited to be part of rt. Flnanclal Revlew During the year we took on the management of Chifton Trinity and accounts show clearly that we are holding their funds separately. Looking at the Balance Sheet. the unrestricted funds this year has a deficit of £34,557 which is an improvement on last year of £14,466 (2024 -£49,023).
We are holding restricted funds of £34,238, of which only £1,250 is for repairs or major works the church may need to carry out. We therefore have no reserves available for the substantial major roof repairs as highlighted on the last Quinquennial report. The church is now on the Historic England 'At Risk Register,. The Bellringers have now finished the augmentstion of bells project, leaving a balance of £4,946 in the fund account. Whilst our financial situation looks as though it has improved slightFy, this is because we have only paid £15.000 of the £36,486 Parish Share due this year. From the grants received this year £12,682 contributed towards heating and central costs. Grants received during 2025 HPC £6.415 (Year 1 of a 3 year Wellbeing Project) National Lottery Awards4AII £13,125 {2 years funding for Wellbeing Project) Bridgwaler Town Council £1.000 (Grubs Up Projecti Somersel Community Grant £15.000 {Warm Space) Maurice & Hilda Laing £1,000 (Warm Space) Feslive Grant £500 (Christmas Meal) We are so grateful for the support we receive through grants. Wrthout these grants we would not have been able to heal the church this year. The grants we receive enable us to provide a wonderful environment for the commLJnity of Bridgwater. So many people are feeling the positive benefits of coming into the church and finding friendship. love and support.. only possible with financial assistan and commitment to the vulnerable in our communty from our grant funders. We were also nominated to receive a donation from Suez Recycling of £500 for our Wellbeing and Warm Space Christmas Period. It was so good lo receive this as il was in recognition of the good work being done with the vulnerable. With the Festive Granl we were able to offer 98 Christmas meals to parishioners and people of Bridgwater and surrounding areas. We had people who were lonely and who would only be having this one Christmas meal, some who suffered poor mental health and some people who were part of the church community via the café. our Well-being Wednesdays and our church services. We also provided a Christmas meal for the Grubs Up children and their families. The amazing food was paid for by Ihe Somersel Communty Foundation and we spent all £500, with an overspend of £30 taken from the Active Living Fund and £329 from Ihe Womens Fellowship Fund. The Suez Rewcling donation funded Christmas food for those who attend Wellbeing over the Christmas period when other provisions were generally closed. Tony Omara made sure this happened and our thanks go out to him. stewardship has dropped by £7,047 compared with 2024 (£17,070'.2025 £24,117:2024 £24,905:2023). Gift aid claimed for 2025 was £5,619 (£,6640'.2024 £6,634'.20231. We are focussing on trying to increase stewardship again as the costs of running the church are rising and our regular giving is falling. Collections at services has increased this year to £4,794 which is up by on last year by £619 {£4,175=2024). Lettings improved by £4,710 in 20251£5,896.-2025, £1,186.'2024). Improvements have been due to changing the bookings terms and invoicing structures.
£2.001 has been raised through Fundraising. A big thank you everyone who has contributed to our fundraising.. 50150 fundraising Bag5 2 School Fashion Show Craft Fayre Fundraislng general Mary Bates Ringers Carnival - bell tower Take Art Wine Tasting 50 98 525 406 102 152 115 559 The Café income is £21,896 for 2025 which is very similar lo the previous year (£21,487.'2024). Expenditure was £14,791 {£15,552'.2024}. Therefore, profit for 2024 is £7,105. Pay It Fotward donations totalling £116 within these figures (£616.'2024) has been given to provide those in need wrth free food and drinks. Donations were lower this year but the grants received covers the cost of food and refreshments for those attending the Wellbeing Sessions and Warm Space. We need to promote the Pay It Forward donats'ons better as the food provided on Thursdays is subsidised from the café profrt. Overall, our income has increased by £33,512 {£135,770-.2025 £102.258.'2024) and our expenditure has increased by £1,329 (£108,232.'2025 £106,903'.20241. £6,563 of the 2025 income relates to a grant received carrying over to 202612027. Income for Fees has increased this year by £2,177 {£13,025'.2025 £12.196'.2024). Fees payable to the DBF has increased by £1,132 {£9,015.'2025 £7,883.'20241 but then this is to be expected with an increase in income. No legacies were received in 2025. The total Geneial Maintenance exFendiiure was £3,632 this year. Gas and el8Ctricity bills for 2025 amounted to £12.498 for St Mary's. No major repairs necessary during 2025 although there are major probiems that need addressing with the Window in the Corporation pew5 and the roof. An increase of £503 on offi assistance increased in 2025 due to an increase in the minimum pay and an allocation of an extra hour dljring the year. {£9,893=2025 £9,390'.2024). We have continued to keep the stationery costs at a minimum by printing mostly in black and white (£1,842.'2025 £1731.'2024). There is no interest payable on our10gn now as it is all wrapped up in the capital repayments.
Reserves Policy To safeguard financial risks and to ensure the financial viability of the PCC, it has been our policy to maintain general fijnd reserves at a figure of at least 6 months, general expenditure. For 2025 we were still unable to fulfil this. We changed our policy in 2019 to redu our general fund reserves to £10,000. Our fabric fund now stands at £73, we have a projector replacement fund of £200 and we have no general fund reserves. We continue as a PCC to monitor our cash flow carefulty and frequentty and we are constantly looking at ways in which we can increase income and reduce expenditur8. The PCC tskes very seriously the unusual situation we are in financially. We are actively seeking new ways of bringing in funds to be able to meet our Qommitmenls during the next 12 months. We paid £15,000 Common Fund in 2025, this being treated as a donation in the accounts, and not a liabilty. We need to substantially increase our Common Fund giving. Structure, Governance and Management The Paiochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure and is a Registered Charity. The method of appointment of PCC members is set out in the Church Representation Rules. At St Mary's the mefflbership of the PCC consists of the incumbent (our vicar), Churchwardens and members elected by those members of the congregation who are on the electoral roll of the Church. All those who attend our serviceslmembers of the congregation are encouraged to register on the Electoral Roll and stand for election lo the PCC. In 2025 there were 3 weddings and 24 funerals in church with 3 additional funerals held in their entirety at the crematorium. There were 8 baptisms. The PCC members are responsible for making decision8 on 811 matters of general concern and importance to the parish including deciding on how the fvnds of Ihe PCC are to be spent. New members receive initial training into the workings of the PCC. The full PCC met 6 times between January 1° 2025 and December 319t 2025 wilh an average level of attendance of around 850/0. Reference and Administratlve Detalls St Mary's Church is sltuated in St Mary Street, Bridgwater, Somerset. It is part of the Sedgemoor Deanery in the Diocese of Bath and Wells wthin the Church of England. The correspjndence address is Sl Mary's Church Ofke. St Mary Street, Bridgwater, TA6 3EQ. The Parochial Church Council (PCC) is a charty registered with the Charty Commission as the Parochial Church Council of the Ecclesiastical Parish ol Saint Mary, Bridgwater. Registered No. 1128525. PCC members who have served durlng the calendar year 2025, and during 2026 until the approval of the financial statements and report are: Ex Officio members.. Incumbent: Revd. Suse 05mond Assistant Treasurer & Deanery Synod Representative.. Miss Juliet Sully Church Wardens .' Mr Richard Philpott & Mr Richard Smrth
Deanery Synod Representative.. Mr Julian Higgs, Assistant Curate in Training.. Revd Julie Pelling Associate PTiesl'. Revd. Tobie Osmond Elected members.. Mrs Lesley Grrffin, Treasurer, 2025- 2028 Mr John Bodiley, Secretary 2025-2028 Mi Richard Strange 2025-2028 MT Steve Cross 2023- 2026 Mrs Alison Green 2024-2027 Mr Levi Fowler 202&2028 Mrs Sue Warman 2025-2028 Mr Kelvin Millis 202&2028 Approved by the PCC on and signed on their behalf by Reverend Suse Osmond (PCC chairperson) . Date: Islsli
ST MARY'S PCC BRIOGWATER STATEMENT OF FINANCIAL AcnviTIES forthe year ended 31ST DECEMBER 2025 Totsl Total Unrestrkted Restrlcted FuThds Funds Funds 2025 Unrestricted Re5tr1rted Funds Funds Fund5 2024 Notes INCOME AND ENDOWMENTS Incomèfrom donations and legacies 40.679 40,247 80.926 43.277 16.460 59,737 Income from tharitablÈ artlvities 2b 46,433 402 46.835 39,609 628 40.237 Income from investments 2c 1,137 1,137 1,062 1,062 other income 2d 347 6,525 6,872 1,084 138 1,222 TOTAL INCOME 88,596 47,174 135.770 85.032 17,226 102,258 EXPENDITURE Expenditure on charltable actlvltle5 74,130 34,102 108,232 80.673 26,230 106.903 TOTAL EXPENDITURE 74.130 34,102 108,232 80,673 26,230 106,903 INCOMEIIEXPENDITUREI BEFORE GAINS AND LOSSES ON INVESTMENTS 14,466 13,072 27,538 4,359 19,0041 14,6451 GAINS AND LOSSES ON INVESTMENTS Realised NET MOVEMENT IN FUNDS forthe year 14,466 13,072 27,538 4.359 19.0041 14.6451 RECONCILIATION OF FUNDS: TOTAL FUNDS BROUGHT FORWARD 149.0231 21,166 127,8571 153,3821 30,170 123,2121 Transfer between funds TOTAL FUNDS CARRIED FORWARD 134.5571 34.238 13191 149.0231 21.166 127,8571 The notes on pages 9 to 15 form part ol these accounts. Page 8
ST MARY'S PCC BRIDGWATER BALANCE SHEEfas at 31ST DECEMBER 2025 2025 2024 Notes FIXED ASSETS Tangible fixed assets 1,689 4,238 CURRENT ASSErs Stock5 Debtor5 Cash at bank and in hand 958 2,932 50,604 54,494 1,099 4.338 36.327 41,764 LIABIL{E5- AMouKfs FALUNG DUE WITHIN ONE YEAR 8a 112.3021 127,0591 NEY CURRENT A55Ers 42.192 14,705 TOTAL ASSEfs LESS CURRETrrf LIA81LmES 43,881 18,943 LIABILITrES- AMOUNTS FALLING OUE AFTER MORETHAN ONE YEAR 8b 144,2(L)I I46,8) NET {LIABIUTIES) 13191 127,8571 FUNDS Unrestricted funds Restrlcted funds io li 134,5571 34.238 149,0231 21.166 13191 127,8571 Approved by the Parochlal Church Council on ...... and signed on Its behalf by.. Revd Suse Osmond Chaim)an Mr5 Lesley Griffin Treasurer The notes on pages 10 to 16 form part of these accounts. Page 9
ST MARY'S PCC BRIDGWATER NOTES TO THE FINANCIAL STATEMENTS for the year ended 31ST DECEMBER 2025 I ACC0UNn pouaE5 Statement of rornpliance These financial 5tstements have been prepared in compliance wfch FRS 102.'The Financial Reportlng Standard appllcable in the UK and the Republic of Ireland., the Statement ol Recommended PrartI applicable to charities pparIng their 4ccounts In accordance with the Flnancial Reporting Standard applK8ble in the UK and Republic of Ireland IFRS 1021 Icharities SORP IFRS 102lleffective l January 201911, Chur¢h AccwDtitw Regulati0Th5 2(X)6 and the Charities Act 2011. The charityls a public benefitentity. Basls of preparatlvn The financial sternents have been prepared underthe historical cost convention ex¢eptfor the valuatK)n of Investment a55et5, which are shown at falrvalue. The financial statement5 include all transaction5. asset5 and Ilabllities for which the PCC is re5pon51ble In L3w. They do not include the accounts of church groups that owe theii main affiliation to another body, nor those that are informal gathering5 of church members. The financial statements are prepared in sterlin& which is the functlonal cijrrency of the PCC. The charity has taken advantage of the exemptlon available to small charities in the Charlties SORP IFRS 1021 not to include a cash flow statement. Golng c(* The DlocÈsan Board of Finance ha5 indicated Its Continuing supportto St Marfs in allowing them to make a reduced Common Fund payment and also extendlng the loan term forthe re-orderin8 ol the Church. Cashllow projections have been prepared forthe 12 months following the date of thls report whlch indlcate thatthe PCC will continue to meet its day to day working capltal requirements. On the strength ol the forgoing. the trustees consider thatthere are no materlal uncertaintles about the PCC'S abilityto contlnue as a going concern and that it is therefore 4pproprrdte to prepare the accgunts on 8 going concern basis. dgements and key sources of e5timatlon untertaihty ThÈ pparatiOTr of the financial statemÈnts requires Tnanagernentto make judgements. estimates and assumptltsns that can alfect the amounts reported. ThÈse estimates and judgernent5 are continually reviewed and are based on experten& ènd other factors. including expectatltsns of futtt events thatare believed to be reasonable under the ¢lr¢umstances. Fund o¢¢ounllr Restricted funds represent lal income from trusts or endowments whlch may be expended only on those re5tritted object5 provided In the terms of the trust or bequest, and Ibl donation5 or grants recelved for specific object or Invfted bythe PCC for a 5peciflc object The funds may only be expended the spe¢lfi¢ objert forwhichthey were given. Any balance remalnlng unspent at the end of each year must be carried forward a5 a balance onthat fund. General fund5 repre5erbt the fund5 of the PCC that are not sublectto any restrfctions regarding their use and are available f0rappItIon on the general purpose5 of the PCC. Funds designated fora particular purpose bythe PCC are 81so unrestritted. Incornff rOnItIOn Voluntory income ond churitoble uctivities Income is recognlsed when the PCC has entitlement tothe fund5, bt Is probable thatthe income wlll be retslved and the amount of Income receivable can be ryasured rellably. Collertlons a recogTri5ed when received by or on behalf of the PCC. PLinned givlng Is reco8nised only when received. Tax recoverable on 81ft aid donations Is recognlsed when the donatlon15 recognised. Grants and legacies to the PCC are atcounted for a5 soon os the PCC is notified of its legal entleMent. the amountdue 15 quantifiable and its ultlmate receipt by th2 PCC 15 rea50nablycertsin. Fund-raising events or8anlsed by the PCC are atcounted for gross. Sales of ma8aiine$ and 50uvenlrs are accounted for gross. Other income Rental Sncome froffl the lettin8 of church premises Is reco8nised when the rentsl is due. In¢orneArom investments Dlvldends and interest a &counted for when receivable- any associated tsx recoverable belng 08nised in the sarrE cOUntIng year. Pa8e 10
ST MARY'S PCC BRIDGWATER NOTES TO THE FINANCIALSTATEMENTS forthe year ènded 31ST DECEMBER 2025 Icontinuedl I ACCOUNTING POLICIES Icontlnuedl Expendlture reu>8nhSon Expenditure is recognised on an 3ccruals basls. ExpÈndlture Includes any VAT whlch cannot be fully recovered. Grants and dontrtions Gr8nts and donations are accounted forwhen paid overor when awarded if thataw)rd creates a binding obligation onthe PCC. Expertditureon charltuble uctlwtles Charjtable attltIeS include all costs that direttty rebte to the work of the church. including runnlng costs and costs of maintenance and repair. Support costs and 8overnancÈ costs are deemed to relate directlyto the work of the church. The Diocesan Parish Share15 accounted for when pald and no accrual Is made for any part not paid bythe end of the financial year as It does not represÈni a legal debt. Fundrtrising costs Fundralsing costs Includes costs of all fundraisin8 actbvltles, event5, non-clwritable trading actlvltles. and the sale of donated goods. Otherexpendirure Other expenditure includes all expendlture that Is nelther related to ralslng funds forthe charity nor part of ts expenditure orb charitable activities. Tanglble Flxed Assets onsecrotedpropety undmovublechurchfurnishlngs Consecrated and beneficed property Is excluded from the accounts by s.1012llaland Icl of the Charities Act 2011. Mov8ble church furnishing5 held by the Vicar and Churchwardens on specièl tnjst for the PCC and whith requlre a faculty for disposal are accounted for as iTrèllenable property unle55 consecrated. They are Ited In the Church's Inventory, which can be inspected byarrangement. For inallenable propertyacquired prlort 2000there 15 insufficient cost Informatlon available 8nd therefore such a55ets are not valued in the financial ststements. Items acguired since 2(M)O have been captta115ed and depreclated In the flnanclal statements over theircurrently antlclpated Useful economic Ilfe of four years on a straight line ba51S. All exFenditure incurred In the year on tonsecrated or beneficed buildings, indwidual items under £500 or on the repair of rnovabk church furnishings acqulred before 20 is written off. OtherFlxtures Fittlngs ondoffice Equlpmertt Equipment Used wlthln the Church prernlses Is depreclated on a stralght Ilne basis overfDur years. Indiwdual item5 with a purchase price of £500 or s$ are written off when the a55et Is acquired. Imtestments Investments are a form of basic flnancial instrumentand are inallY reco8nlsed at theirtran5aCtlon value and subsequently rneasUd at theirfalrvalue as at 31 DeCemr. The statement of finantlal attlvtties includes the netgalns and losses arislng on revaluation and disposa15 throuehout year. Ojrrent assets Amounts owingto the PCC are shown as debtors less provlslon foramounts that may Pf¢)ve uncollectsble. Cash at bank and in hand include5 shortterrn deposit5 Wlth Bank5 and the CBF Church of England Funds. Stocks are measured at the lower of (t and estlmated selllng prlce less costs to complete and sell. LlabllStle5: amwrfsfalllng due wlthln one yearand after morethan one year Liabilities are recoEnised as expendlture as soon a5 there 15 legal or constructive obligation committing the PCC tothat expendlture. it 15 prcbable that the settlement wlll be required and the amount of the obllEatlon can be mtssured rellably. Flnanctsl Instwments The PCC has flnancial assets and financial liabilities of a kind that qual as baslc fiTranclal instruments. Baslc flnanclal Inttrumerfs are initially reco8nised attransaction value and subsequently measUd atthelr settlernent value. FinarKial instrumentsthat a ¢oncessi¢nary loan5 (being public ienefitentty loaThs made at below the prevailirbB rnarket rate of interest, not repayable on demand and forihe wrposes of furthering the objectives of the PCCI are Inltially recognlsed at the atnount 1ved wlth the carrying amount adjusted In subsequent vears to reflert rÈpayments and any accrued interest and adjusted if necessarylor impalrment. Page 11
STMARYS PCC BRIDGWATER NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31SY DECEMBER 2025 Icontinuedl Total Funds 2025 Total Funds 2024 INCOME AND ENDOWMENTS UnstrIcted Restricted Funds Funds Unre5trfrted Re5trfrte Funds Funds 2a Income from donatlons and legacies Planned Giving.. Glft Ald Glving 19.090 5.619 3,539 4,794 7.637 19,090 5,619 3,539 4,794 10,844 37,040 18,518 6.797 5,599 4,175 6,038 18.518 6,797 5.599 4.175 7,098 15,4¢J) 2.150 Income tax recoverable Non-tax recoverlble Collectlons at SeNices Donations Grants Le8acies 3,207 37,040 1,060 15,400 2,150 40,679 40,247 80.926 43,277 16,460 59,737 2b Income frorn tharltable artlvltles Lettings Fund-raising café income Craft and book sales Offiee external 2 Club gross Flowers Fees equipment Fees 5,896 2,001 21,494 267 io 3,560 5,896 2,001 21,896 267 io 3,560 1,186 1,215 20.871 176 20 3,800 1,186 1,215 21,487 176 20 402 616 12 12 145 12,196 180 13,025 145 12,196 13,025 46.433 402 46,83S 39.609 628 40,237 2c Income from Investmènts Bank and other interest 1,137 1,137 1,062 1,062 1,137 1.137 1.062 1,062 2d Other Income VAT reclaimed Chilton frinity bank transferred to PCC 347 195 6,330 542 6,330 1,084 138 1,222 347 6,525 6,872 1,084 138 1,222 TOTAL INCQME 88,596 47.174 135,770 85.032 17.226 102.258 Page 12
ST MARY'S PCC BRIDGWATER NOTESTO THE FINANCIAL STATEMENTS for the year *nded 31ST DECEMBER 202S Icorrtlnuedl EXPENDITURE ON CHARITABLE ACnVlnES Total Total Funds Unre5tr1cted Restrlcted Funds FndS Funds 2025 Unrestri¢ted Re5trirted Funds Funds 2024 3a Church actlvltle$- general Ministry.. Share of Diocesan Common Fund DBF and other fees Clergy expenses Other clergy Costs ght, heat, insurance and cleaning Church maintenaKe Organ maintenance Vestments and sanctuary expènses Church Services Resources Flowers Youn8 Church/Babycinos Womens Fellowshlp Church development Or8anists' salaries Major repairs/replacement installations Donations Lettings expenses Café Expenditure Grubs Up re50urce5 Cost of fundraising Miscellaneous Write off - organ blower dispute Depreclation .o(xJ 9,015 837 1.302 6,037 3,447 996 413 440 1.31x1 16,300 9.015 837 1,302 18,981 3,632 996 413 440 18,243 7,883 1,048 261 13,904 4.CK)O 818 539 572 18,243 7.883 1,048 261 22.182 4,000 818 539 572 141 139 12.944 185 8,278 141 io io 329 15,895 1.565 139 329 15,895 50 10,632 10,632 1.370 3,336 74 312 15,552 1515 1,370 3,336 74 310 332 14.675 999 911 107 109 419 332 14,791 1,741 911 107 312 14.758 116 742 141 1691 191 64.110 141 (691 3,074 9),248 117 56,463 2,432 34,102 2,549 90,565 2,883 26,138 3b Other costs 200 club Stewardship expense 2,020 2,020 2,020 34 2,020 34 2,020 2,020 2,054 2,054 3t Governae costs AontanCy 962 962 850 850 %2 962 8SO 850 3d Support costs Office a5515tance Stationery less rechar8ed to church funds Vestry telephone and Snternet Marketing Subscriptions Bank charges 9,893 1,842 994 108 1,526 322 9,893 1.842 994 108 1.526 322 9,390 1.731 1.029 109 1.059 341 9.390 1,731 1,029 201 1,059 341 92 14,685 14.685 13.659 92 13,751 TOTAL EXPENDITURE 74,130 34,102 108,232 80,673 26,230 106,903 Page 13
ST MARYS PCC BRIDGWATER NOTES TO THE FINANCIAL STATEME1[5 forthe year ended 31ST DECEMBER 2025 Icontlnued) 2025 2024 4 al STAFF cosrs Wage5 and 5alarte5 20.927 16,971 During the year the PCC employed an administrator, organists and funeral and weddlng verger5 and vicars but no paymènts which did attract a small amount of national insurance I£IOI and employee & employèr pènsion contributlons of £402.64. The PCC claimed small employers allowance. The average number of employees during the year was 312024: 31 b) PAYMENTSTO PCC MEMBERS Payments of £2,052 were made to Kelvin Mlllls whllst a PCC member during the year. But he 15 a longstanding 5elf-employed supplier who helps keep our maintenance costs down. No other payments or expenses were paid to any PCC member, related parties or persons onnerted to them. 5 ST MARYS 200 CLUB Profit for the year 1,540 1,780 6 TANGIBLE FIXED ASSETS Fixtures, fittin8S and equipment COST At l January 2025 Additions At 31 December 2025 65,085 65,085 DEPRECIATION At l January 2025 Charge for year At 31 December 2025 60,847 2,549 63.396 CARRYING AMOUNT At 31 December 2025 At 31 December 2024 1,689 4,238 20 2024 7 DEBTORS Income tax recoverable Other debtors VAT recoverable on development expenditure 2,795 137 3,085 588 665 4,338 2.932 8a LIABIUTIES- AMOUNTS FALLING DUE WITHIN ONE YEAR cOn$siOnarY loan Sundry creditors and accruals 2,61JO 9,702 12,302 24,459 27,059 (See note 8b for detalls of the concesslonary loan). Pa8e 14
ST MARY'S PCC BRIDGWATER NOTES TO THE FINANCIAL STATEMENTS for the year ended 31ST DECEMBER 2025 Icontinuedl 2025 2024 8b LIABILITIES- AMOUNTS FAWNG DUE AFTER MORE THAN ONE YEAR Conces5ionary loan 44,200 46,800 The loan Is from The Bath and Wells Board of Finance. The total amount orl8inally advanced was £130,CKIO and was repèyable by ten annual in5talments of £13,000. This was reduced to annual instslments of £2.600 from l January 2024 on an interest free basls. 9 ANALYSIS OF ASSETS BY FUND Unrestricted Restricte(I Fixed assets Current assets Current liabilities Lon8 term liabilities 238 21,707 112,3021 144,2001 134,5571 1,451 32,787 1,689 54,494 112,302 144,2c()I 13191 34.238 10 UNRESTRicfED FUNDS Transfers bètween funds Opening balance Closing balance Income Expenditure General Projecter Replacement Fund 149.1231 100 149.023 88,596 174.1301 11001 134,7571 200 134,5571 88,596 174,1301 11 RESTRIE0 FUNDS Transfers between funds Openlng balance Closlng balance Income Expendlture Fabric Restoration Flower Gulld Bellringers Womens Fellowshlp Refugeelother Need donatlons Active Living Grant Pay it forward Baby & toddler group Food Resillen Kitchen extension Noticeboard Warm Space Grant 24125 Wellbeing Project 24125 Festive food grant Grubs Up Bubble Church Chilton Trinity 23 1,142 73 1.177 676 4,946 35 676 5.779 329 1,199 138 449 11,2821 13291 11091 1301 11161 7821 11981 19771 14741 112,7621 114,0041 15001 17421 1,090 402 782 198 1.838 632 6,182 3.328 861 158 10.095 9,308 16,675 19,984 500 1,220 120 6.659 47,174 478 120 4.862 34,238 11.7971 134,1021 21.166 Page IS
ST MARY'S PCC BRIDGWATER NOTE5 TO THE FIfrJANCIAL STATEMENTS for the year ended 31ST DECEMBER 2025 Icontlnuedl 11 RESTRICTED FUNDS Icont5nuedl The Fabrlc fund Is to be used on the upkeep of the buildinB. DurlnR the year a number of grants were recelved for urgent roof repalrs which have been carried out during the year. The bellringers fund orSginated In 2017 forthe restoration of the Church bells. Recovery of VAT wa5 received in the year and work on the bells was undertaken. The kitchen extension fund is made up of several grants whlch were received which ha5 been used on an extenslon to the kitchen so that there is more room for food preparation. The warm space funds are made up of several grants received as a contribution to the gvprheads of the building to enable the ch¢Jrch to stay open additional hours as a wam) space for the communlty. The open mental health grants were recelved to fund a prolect of well-being events. Durlng the year Chilton Trinity Church merged with St Mary's. The funds held by Chilton Trinity have been recognised as a restricted fund to be spent only on Holy Trlnlty at Chllton Trinity- 12 CHARITIES ANDTRusrs The James Cook Bequest is a registered charity admlnistered bythe Vlcar and Churthwardens. They are also Managing Trustees of the Podger Trust, the DBF being Custodian Trustee. The Emma Pearce Memoiial fund is a ¥e8iStered charity administered by the Vlcar and Churchwardens. None of the above Charlties and Trusts are subject to Independent Examination. 2024 13 ExfERNAL GIVING lexcluded from SOFA under regulations) The Chlldrens HospSce Zambla Link 122 582 513 704 553 14 LEGACIES The Abercanaid and Pentrebach Estste 2,150 2,150 15 RELATED PARTIES Durin8 the year, the trustees made uncondltional donations amountlng to £6,21312024 £6,774) inclusive of glft ald. There were no material related party transactlons during the year that require reporting. Page 16
JAMES COOK BEQUEST- CHARITY NUMBER 240141 Administered by the Vicar and Churchwardens of St Mary's Bridgwater RECEIPT5 AND PAYMENTS ACCOUNT for the year ended 31ST DECEMBER 2025 arative 2024 RECEIPTS Dividends 200 205 PAYMENTS Grants to Individuals 418 200 SURPLUYIDEFICITI for the Year 12131 STATEMENT OF ASSETS AND LIABILMES as at 31 DECEMBER 2025 ASSETS 7,340 593 361.7 COIF Income Units at Market Value Cash held by St Mary's PCC BridBwater 6,989 380 7,933 7,369 Page 17
THE PODSER TRUST Vlt•r and Chur¢hwÈfdens Man4ingTrust¢¢s fteQlPT5 AND PAYMENT5 ACCOUNT for the year ended 31ST DECEMBER 2025 arative 2024 RECEIPTS 570 815 1,385 Rent ofland Investment income 647 730 1.377 PAYMEI Draina8e char8e Legal Fees Itommissi(x>l 120 129 1,385 SURPWS FOR THEYEAR 1,248 STATEMENTOFASSETSAND UABILMES a5at31 DECEMBER 2025 ASSETS Pemanent Endowment Note I Central Board of FSnance Desl8nated Fund Note 2 Central Board OF Flnancelpart General Futwj sh held at St M3ry'5 Church PCC Centrdl Board of Finance (Partl B8nk deposltaccount Currentaccount 527 2,615 211 3.917 1,887 209 3,926 6,022 6,022 7.270 7.270 Note I Permanwit Endowment now kndged with Cv5todian Trustee5 comprises'.- Previously held by Mana6insTru5tee5 Wayleave Eranted over part of land Wembdon proceeds 4,2DJ io,oco 14,2LK) Perrnanent Endovm&nt also Include$ 8.087 ¥res land at Wembdan. Note 2 De$lted Fund representsthe surpluson sale of propertv. PaBe 18
EMMA PEARCE MEMORIAL FUNO- CHARITY NUMBER 246223 Administered by the Vicar and Churchwardens of St Mary's Bridgwater RECEIPTS ANO PAYMENTS ACCOUl+lT for the year ended 31ST DECEMBER 2025 arotive 2024 RECEIPT5 Income from interest Flnal Trust Fund Transfer 778 4,749 831 PAYMENTS Grants to Indlviduals 200 495 5,327 SURPLUS for the Year 336 srATEMENT OF ASSETS AND LIABILITIES as at 31ST DECEMBER 2025 ASS5 18,677 987 Emma pea Memorlal Fund Account Cash held by St Mary's PCC Bridgwater 18,677 1,323 19,664 20,CK)O Page 19
THE PARISH CHURCH OF ST. MAR Y BRIDGWA TER Inde ndent examiner's re ort to the trustees of the PCC ol St. Ma Brid water This rcw>rt is on thc accounts of the PCC for thc ycar ended 31st DcceTnber 2025 which ore set out on pages 8 to 16. This rcport 18 made solely to the wste¢s. as a body. in a(rordance with Scction E45 of the Charities Act 2011 and regulations made undcr Section 154 of that Act. My wotk has been undertaken so that l Tnight state to thc PCC'S tTUSte¢s (hose matters l am requircd to state to them in an Independeni Examiner's Rcport and for YLO Other purpose. To th¢ fullest extcnt pcrmitied by law, I do not accept or assume responsibility to anyone than thc PCC and the PCC'S irnsiees &s a IKpdy, for my work or for thi% report. Res ctlve res onsibilities of trustees and examiner The tLUStecs of the PCC are responsible for the preparation of ihe account5. Ihe trnstccs of thc PCC considcr ihat an audil is not required for this yw under Section 144 of rhe Charities Aci 2011 {"the Ch1[1¢$ Act") and that an indepcndcnl examinatson is need¢d. It is my rcsponsibility to.. cxamine ihe accounts undcr Scction 145 of the Charities Act; Follow the procedures laid down in the general DiTeclions given by thc ChaTily Commission under Section 145(5)Ib) of the Chariiies Act- and slate whether particular matters have coFne co my attention. Basis of Inde ndent examiner's statemenr My exatninaiion w canied out in arcoidance with thc Directions given by the Chariry Commission. An examinatio include5 a rcview of ihe accounting records kept by ihe PCC and a comparison of the accounis psented wilh those records. It also includcs consideraiion 8ny unusual items or disclosures iii (he accounts. and 5ccking explanations from the trusiecs concerning any such matters. Thc procedures undcrtakcn do not providc all Ihe evidence thar would be rcquird in an audit. and conSCqllcntly no opinion is given as lo whcthcr ihe accounts prcsent a 'ln]e and fair, view and thc tepori is limilcd to Ihose matters sci oui in the statement below. Inde endent examlner s statement In connection with my examination. llo macter has comc to my attcntion- (l) which gives rnc reasonable cause to believc th* in any matcrial rcspcct the rcquiremcnts to kccp accouniing records in accordance with Scciion 130 of thc Chariiics Act: ad to prcparc occounL% which accord with the accounting records, Accounting and Rcpofling by Charilie.q preparing their accounts in accordance with thc Financial Reporting StaThdard applicable in thc UK and Republic of Ireland (FRS 1021 and in oiher rc%pe¢ts comply with Ihc &ccounLing ILquiremcnts of th¢ Charities Act have noi kcn met; or (2) to which, in my opinion, attention should bc drnwn in order ro enable a ptoper understanding of rhc accounts to be reached. K. D¢iVlCS, FCCA WcsLco(ts. CharLered Accountanls, 7 Castle S¢reel, Bridgwater. Somcrset. TA6 3DD 15 May 2026 Pagc 20