St Paul's Church, Honiton Financial Statements of the Parochial Church Council For the year ended 31 December 2023 Charity number 1128921
St Paul's Church Honlton - 1128921 Finanual statemerts olth• Parochial Chureh Council For the y•ar ended 31 December 2023 Pag• PCC Annual Rekxjrt Statement of Financial A¢tivities 8818nce Sheet Incorning ResrrES ResourrM EXnded 7-15 Notes to the Financkgf Statement5 16 IndepeThJent Exarnir.$ Rekx)rt
St Paul's Church Honlton- 1128921 Trustees Annual Rèport for the #r ènded 31 Dec•mb•r 2023 Admini$trativ• Information St. Paul's Church is situated in Ihe centre ol Honit¢)n and is port ol the Dw8e of Exeter within the Church ol ErrfJland. The corspOndence address is St Paul's Parish Offi. 99 Hlgh Street. Honiton, Devon Exf4 IPG. A5m and Purposes St P8uI's parh41 Church Counal IPCCI h8S the responsibility of w-operating with the incumtEnt. the Revd. Preb. Sue Roberts, in promoting, in the ec¢lesiastul p8r4sh. the Who mission of the church pastoral. evangel#1, sCC181 and ecumenic81. It also has Maintenan responsibilities for St Mlchael's Lrxe aThJ the Mackarne8s Hall in Honltcx) and the graveyards at St Michaefs, Honilr and at Monkton. Structure, Governan¢• and Management St Paul's Churth is a registered chwity Ino. 11289211 and the members of the PCC are also the trustees. The PCC ts a body corporate IPCC Power¥ Measure 1956, Church Representslion Rules 20061. The PCC members are responsible for making decisitsns on 811 rnatters ol gener81 concern and imrortan¢e to the parish includin9 de¢iding on how the funds ol the PCC are lo be spent. PCC members are ele¢ted by member5 of the congregation, who are on the elector81 roll ol the Church, 8t the AThnual P8rish Church Meeting IAPCMI in accord8nce with the Church Representation Rules. During the pericxj 1 Janu8ry 2023 until the date this report was 819ned, the followiro seNed os rnembers ofthe PCC.. EX.offlK members.. Incumbent 8nd Chaiman Team Vrar Churchwarden and Vi¢e-Chaitman Seciet8ry Deanery Synod Repre6enlatives Rev. Preb. Sue Roberts Rev. Tracey Voysey Dunc&n Geale Deborah Chapmon Suzanne Henville Felicrty Stead James Wilkin50n (until APCM 2025) (until APCM 20231 (from July 20231 Elected membors.. Treasurer Emily Wilkinson Joann8 Foreman J8n Geale Suzanne Henville Catherine Lee Felicity Stead Belinda (Lynl Thatcher lunlil APCM 20261 lunlil APCM 20241 (until APCM 20251 (until APCM 20261 (until APCM 20261 lunlil APCM 20231 (until APCM 20261 The PCC woYk5 through the fdlowing working groups." Finance and Stèwardship worting gro - which oversees thg genwal finance dimension of the work at Sl Paul's by mMitoring in¢orne and eXpeIlure, budgeting and cordInatIng the 8nnual review of Christian Stewardship of money through pL9nned giving. Eco ChurGh working group- having registered St P5uI's with Eco Church in November 2018 and received its 8¥onze Award itt 2023, the working grojp wnts'nues lo look at ways in which can better care for God's earth in the areas of Worship and Teaching, Management ofchurch Buildings Land, Communty Global Engagement and Lrfe6tyle. cl?St(¥y Windows b5vIng group- group lo plan and raBe funds for the urgent repair WO required to the ckrestLry wind(ws and iesulling dwnage to the rn8sonry of the church, particulaty in the Narthex and on the west side of the chur¢. These working groups are responsible to Ihe PCC and reprxt b8¢k to it regulgrfy with minutes ol their deliber8ti0115 being re¢eived by the fvll PCC and dis(xssed 88 necessary. ObJeetive$ and Actlvlths The PCC is commrtted to enabling as maY people as possible to take part in worship and olher adivities at our chui¢h and to becorne pèrt of the p8rish ¢ommunrty at St. Paul's. Our servi8 and WshIp aim to put faith into practice through prayer and $pture, rnu8 and sacrament. TIre We 68 pwi%hioners on the Electorol Roll. When plarTning our actwities foi the year, the incumt*nt and the PCC c0nsklerl the Commission's guid8r1¢8 on public benefit and in particular. the specttic guidan on ¢horith"es for th8 8dvarKement ol religK)n. In parti¢ular, we try to enable peOe to INe out t1r fath as part of our p8rish communty through.. Worship and w8yer'. leaming about the Gospel,. and develOng their knedge and trust in Jesus Provi5ioN of p8Storal care for people living in the parish and Mi88Dn and outreach work Achievements and Performanc• W0hp. Prayerand Outr88¢h The PCC aTe keen to offer a range of 5ervice8 during the week and over the coutse of the year that community lind b)th benelicwl 8nd spitUallY luifilling. All are welc¢Jne to attend our 8ervi¢es, detsi15 of whicth ¢8n be tound on the parish websile.. .honit
St Paul's Church Honiton- 1128921 Tr1ee$ Annual Report for the year ended 31 December 2023 Achievements and Porformae conL As well 8$ our regular services, we enable our community lo cetsrate thank God at the milestones d the joumey th¥ough life. Thrwgh bapli%m we tt)8nk God for the gift of life, in marria publ¢c vows are exchanged with God's blessing and through funeral servi$ friends and farn1 exwess trir grief ar give thanks for the lrfe whith is now LX)mplete in thi8 workl and to commend the person into Gods keeping. Other areos of outr8a¢h include Coffee Moinings on Saturdays and Tuesdays, regular sea8rxtral actNlties & worship aimed 8t families and young people, developing links with one of the state pfirn8ry Schools in the town. a Week wayer group, and a Prayer Ch8in. Th8 dergy and lay mernbers of the church visit local retirement and nursing h(Thes on 8 regular basis. Together %ith the Ottrr wishe5 01 the Missfon Community. we again ran a Rest and Refreshment tent al the Honiton Show which was very well r1Ved by the public. The Parish Otfice crmlinues to be staffed for 3 momings e8ch week. In the surnmer of 2023, the Revd Tracey Voysey was li(ensed as an Interim Minister to the Mission Community, 1h sryf r85Pgnsibilty for extendirKJ St Paul's rnission and outreach, and developiThJ a n8w intergenerational congregatlon to be 8 part of the con)munity of St Paul's. In January 2019 St Mhael'S Church was transferred to th& e8r8 tsf the Dwse ol Exeter. The PCC'S current respon$>11itY is to CaTry Olrt weekly in$pections, iepyxting to the Diocese 8$ necessary. Financial ReW Total incorne increased to £102.719 and planned giving stsyed fairly static. Intxme induded ur*re8tricted legwes of £20,125. Td81 8xpenditure was £124,190, whh included a totsl of £9,950 spent on repairs to the Mackarness Hall, and 8 futher £8.466 or unrestricted legacies spent on redertsating the holl. The result f¢ th8 year. after induding ga¢n8 on investmerts. W86 a loss of income over expenditure of £18,727. In additK)n to expenditure of unrestrided legleS on the Mackamess Hall, £6.290 w8s transferred from general funds lo the Mackamess Hall Funij. This was undertaken to ensu Ihè h811's viability as a lulure source d funds for the church. £10,000 unrestricted legacies was also transferred frixn g8neTrl fuTrds to CTeate a new Outreach Fulld Iflesignatedl lo support Revd Voy5ey's assigned responsibilities. The balance. after including trensfets, held in unrestncted luThls and cwried forward 81 31 December, decre88ed to £240.364. Total lund5 arnounted to £265.350. The Exeler Dioces8n B08rd ol Finance grfted the church a CoNecTin Mue wntaclless giving device Ithich wa$ installed in the Narthex in De¢wnber. This started lo be used Trn Ihe final tsvo weeks ol the year and contributed unrestricted gwing of £53. The PCC was ab to pay ts 2023 Common Fund as%s8ment of £43,395 in lull. R•s•r¥ts Poli¢y It 18 PCC policy to lif possib) maintain a balance on ureStrided fun(Is which equates to approximately Six months unrestred payments. to cover any 8mery8ncies thal may arise. In 2013 the PCC agreed lo maintain a balarte on unres¢ricted funds Irf possible) vthi¢h equates to approximately fr months unrestricted payment8 Wth the hcpe that, when finarKe$ allowed, it would Possible lo retum to a balance of six months reserves for unreStrted funds. It is PCC pdi¢y lo invest with CCLA in a CBF Churth of ETrJland Deposit A(tounÈ arvj CBF Church of ENJJand Investment Funds. Investrnent$ are revalued at Ihe end ol ea¢h financial year. Appointm•nts The following were appointed arKI served as sidesperson8 during the ye8r.' jul Beorllan, Mollie BoFton. V81 Devereux, Val Fosse. Jill Hamilton. Suzanne Henvil, and Belind8 Th8tcher. WestLX)tts w85 appointed as Iepe1)dent Examiner. Volunle•rs We would like to thank al our volunteers who work so hard on behaLI of the church. In particular we would like to mention our outgoing chufchwarden, Belinda Thatcher who has given mony years of dedicated service to St Paul's. and our new churchwarden DuncHn Geale who has put in tremendous efft)rt to rnaintain and improve the chwch. and everyone who has enabled the church to continue to grow and flourish as we 0Ver from the effect5 of the p8ndemi¢. Approved by the PCC on ar5d signed on ther behaw by The R•vd. Prob. Susan Robèrts I¢ thairmanl Paqe 2
st Paul's Church Honlton- 1128921 Statement of Flnanclal Actlvitses for tht #r ended 31 December 2023 Unr•striettd D•signated Funds Funds Restricted Endowment Fund$ Funds Total 2022 Funds Total Funds Note Incom• and Endowments from: Donal¢ons and Legèc*s Income from Charrtable Acatvrt$ othei Trading Activ$ Investments Other Income 63,094.72 22.513.36 5,880.72 2.368.11 800.90 50.00 291.04 63.435.76 22,513.36 13.243.62 2,725.74 800.9) 48,754.42 21.239.00 13,948.76 1.517.64 660.00 7,363.50 139.69 217.94 Totsl Income and Endovmients 94.657.21 7,SS3.19 508.98 102.719.38 86.119.82 EXnditur0 on: Raising Funds Expenditure on Charit8ble Acawities 11,448.90 94,908.74 10,348.45 5.123.ft 21.797.35 102,392.45 6,712.43 141.878.40 2,360.60 Total Expenditur Gainslllossesl on Investment 106.357.64 2,3C6.22 15,471.$6 2,360.60 124,189.80 2,743.16 148,590.83 13,&37.121 7b 436.94 Net InecAnèl(Expenditurel 19,39421} 17.918.371 11,851.621 436.94 118,727.261 166,308.13) Transfers Gross transfers between Funtts 116289.721 16.289.72 Otrer Rerx)gnised G8n511k)SSeS} Nèt Movement In Funds 125,683.931 8.371.35 11.851.621 118,727.261 166,308.131 Re¢onclllatlon of Funds Total Fund$ brought forward 266,047.72 1,428.78 11.996.55 4,604.04 284,077.09 350,385.22 Total Fun(ts carried forward 240.363.79 9.800.13 10,144.93 5,040.98 265,349.83 284.077.09 The statement ol linancid aGtivitie$ indudes all g8in$ and losses in year therefore a statement of tot81 recognised gains and losses has not been prepared. The 2022 (rnprate Stat)ent of finartiol activities is shovm ID note 6. Approved by the PCC on 16- 4- IQ And s¥Jned on their tEhaLf by Thè Revd. pre Susan Robebts IPCC Chairman) The noies on pages 5- 15 forrn part of these nIS Pag• 3
st Paul's Church, Honlton- 1128921 Balane¢ Sheet for the year •ndÈd 31 DeMtser 2023 3111212023 3111Z12022 Note FFx•d Assets Investments 7b 50,557.79 47,814.63 S0,S57.79 47,814.63 Current Assets Deblors Cash ot Bank 8Md in Hand 1,945.79 227.230.71 6,330.09 247.287_90 229,176.50 253,617ts9 Liabilities CredrtLYS.' Amount8 lalling due in one ye 10 114.384.461 117,355.531 Net Cwrent Ass•ts l•ss Currnnt Liabilities 214.792.04 236.2V2.46 Total N•t Asset5 re Liabili15es 26S,349.83 284,077.09 Rèprèsented by Unrestrirted General F1 240,363.79 266.047.72 Designated Choir Fund Ma¢kaine5s Hall Ovtraach Fund 5a 181.21 176.21 1.252.57 9.618.92 Rejtrictsd Flower Fu1 Narthex Refurbishment Organ Fund St Paul's Maintenance Youth Fund 5a, 5b 631.05 538.10 6.206.06 2,216.86 552.86 658.64 523.24 6.112.66 4,158.43 543.58 5a sd Endowmerrt St Michaels Churchyard 7b 5,040.98 4,604.04 Funds of th* Church Z65,349.83 2B4,OTI.09 The notes on pages 5- 15 lotm p8rt of these 8c¢ouTrts. P499 4
St Paul's Church. Honlton- 1128921 Incomlng R•sourc¢s for the year endlng 31 Dècember 2023 Unr•stricted Funds O•$ignat•d Restvicted Endowmènt Funds Fund$ Funds Total Funds 2022 Totèl Funds Ineunè and End¢)wments 2a Donatlons and Legaci•s Pnrned GiviThg Yellow Envelopes Loose Plate colle10n$ co1Ctio[l Special Services Ging through Wall Safe One-off Donations Conla¢tle$s Giving Tax Recoverable on Gift Aid Legac4es One-off Grants 25.822.37 455.00 3.721.82 605.10 1,056.79 3,896.17 53.50 7,258.97 20.125.00 100.(KJ 25,822.37 455.00 3,721.82 605.10 1,347.83 3,946.17 53.50 7.258.97 20.125.00 100.(K) 25.990.16 1.824.51 504.22 1,744.23 4.242.14 291.04 7,042.89 4,696.27 2,S10.Th) 63.094.72 50.00 291.04 63,435.76 48.754.42 2b Income from Charitable Actlvltles Team Fees for Burials Te8m Fees exc. Buri81$ Church Letting5 Crypt Letlings Forecourt Lettings Lodge Letting 9,744.CX) 3.845.(KJ 1.179.36 1,125.00 20.00 6.600.00 9.744. 3.845. 1,179.36 1,125.00 20.(K) 6,600.(K) 10,417.tX) 2.358.00 834.00 975.00 55.00 6.600.1 22,513.36 22.513.36 21.239.00 ze Other Trading Activities Fund R8ising- Charitable Mission Fund Raising- Church Coffee Mning$ Craft Club PrOed8 fr(xm Events MackaTnes8 Hall Lettings 465.37 1.043_55 3,747.93 623.27 465.37 1.043.55 3,747.93 623.27 266.98 7,096.52 656.39 645.31 3,140.07 513.49 266.98 7,096.52 8,993. 5.880.12 7.363.50 13,243.fj2 13.948.76 2d Investments Interest and Divide18 2.368.11 139.69 217.94 2,725.74 1,517.64 2.368.11 139.69 217.94 2,725.74 1,517.64 2e Other Income Printinglpholocopying Recharges MIslI&neOUS 793.00 7.90 793.00 7.90 660.IX) 800.90 800.90 rdal Income and Et)dowm•nts 94.657.21 7.55119 508.98 102,719.38 86.119.82 Page 5
St Paul's Church, HonSton - 1128921 Resources Expendèd lor th• y•ar tnded 31 December 2023 Unrestricted Funds Dosignattd Restricted Endowrnenl Funds Fund$ Funds Total Funds 2022 Total Fund$ 3 Expnditure 3a Raising Funds Kitchen Running Costs K4ackarness Hall Costs Ma¢karrness Hall Utilrty Bi118 Sl Michael's Lodge costs Fundraising Expenditure 1.164.31 8,466.45 1,164.31 16,332_5 2,482.36 1,770.58 47.56 522.17 2.281.59 2,106.62 1.512.05 290.00 7.86fj.09 2,482.36 1,770.58 47.56 11.448.90 10.348.45 21.797.35 6,712.43 3b Expenditure on Charitablè Actlvltlgs coMnTh Fund Chaiit8ble Mission Payments Staff Salaries Clergy Expen$8S Cost of SeNices Church Running Expenses OTgani8t Fees Flowers Yi)uth Other Outreach Insur8nce St Paul's Maintenance Health and Safety Inspectv)n Fees Refurbishment Costs Sl Paul's Utility Bills St Paul's FcCOurt St Michaels Churchyard Monkton Churehyard Administrat Phone Bi1181broadbaTrJ Pnnting and Photc¢opyrng Costs Bank Chaige5 Professional Fees Miscellaneous ExFens88 43,395.00 843.83 7,729.07 4.320.00 1.561.24 2,720.66 825.00 43.395.00 843.83 12,019.43 4.320.00 1.56t.24 2.798.66 825.(M) 44.(K) 5.99 1.075.65 4,860.70 1.392.61 1.872.46 207.50 12,869.22 365.00 8.106.48 480.00 195.05 648.07 1,314.60 252.33 2.283.48 655.95 41,603_1X) 656.39 10,893.51 4,320.IX) 1,371.25 8,697.43 705.00 131.10 4.290.36 78.00 5.99 243.10 4.860.70 832.75 4.493.14 22.404.67 1.774.06 23,236.04 9, 183.87 220 (KI 6.722.62 350.00 715.82 442.37 1.658.02 221.61 2.055.92 14.%) 1.392.61 1.872.48 207.50 12,869.22 365.00 8.106.48 480.00 195.05 648.07 1,314.60 252.33 1,443.48 655.95 840.00 94.908.74 5.123.11 2.360.60 102.392.45 141.878.40 Trrtal Expgndlture 106,357.64 15,471.56 2,360.60 124,189.80 148,590.8J Pago 6
st Paul's Church. Honiton- 1128921 Notes to the Flnancial Statem•nts for th* year ended 31 Dember 2023 4. Staff Costs Stsff sQrs £12 019.43 During the year the PCC employed 2 administrators and 1 cbaner. none of whc¥n were paid more than £10.000 in total. Tempor8ry organists were &nployed during the year. No Trber of the PCC ¢Loirned tr8veling 8ubsistence expenses. Reclaimed expews by PCC membws for wsts incurred on behalf of Ihe church amounted to e1,426.68. Planned giving frorn members of the PCC amounted to £2.680.32. Sa. D•posit Ae¢ounts Th• PCC'S d8POStt ac£ounl is he within the CBF Church of England Funds. CBF Funds 2022 Net transfers Income Int•r•8t Interest Ir•strietèdl {ynTe$tric¢edl 2023 General rthex Refurbishment St Paul's Maintenance OTrJan Youth Choir FkMeT$ 0reaCh 40,9.13 523.24 13,847.571 6,112.66 543.58 176.21 622.CKJ 17,414.671 1,085.74 34,571.20 538.10 15.783.141 6,206.06 552.86 181.21 594.41 9,618.92 14.86 11.941.571 178.001 15.991 171.40 15.27 5.00 144.001 9.484.23 16.41 134.69 45.036.25 217.94 1.22S.43 46.479.82 5b. Flower Fund Curront Aeeount IResth¢tedl In addition. to funds hekl for flowers in the CBF Deposil A1, the flower lund Current account is m8n8ged by the Chuichwarden with permi&8ion of the PCC. 2023 2022 ReeeiFrt9 Donation lrnterest Paymenls Flowers etc. N•t Movemen¢ in Funds Total Funds brought foThvard 36.64 36.64 Total Furbds urrfed lorward 36.64 36.64 P490 T
St Paul's Church. Honlton- 1128921 Not•s to thè Finaneial Statomènts for th• year •nd•d 31 0*mber 2023 Se. Maekarn•ss Hall Account (19n8tedl S88 note 78liil. 2023 2022 Incomé LeltiEYJs Inleresl 7,096.52 6,993.50 Total IneomÈ 7.096.52 8.993.50 Expnditur• 12,482.361 14.290 361 12,1C6.621 13.693.>21 Salar Insurance Running CostslMaintÈn8n¢e 17.866.091 12,281.591 Total expenditurn I14,6381) IB.081.531 Net Income I{ExndItur4) R•soureos bèfore transfèr {7,54229) 911.97 Grrtss Iransf8r8- in Gross transfers- out 6.289.72 N•t Mov•m•nt In Funds Total Funds brought fonvard 11,252.571 1,252.57 911.97 340.60 Total Funds carrfed forntard 1,25157 P•g• 8
st Paul's Church, Honlton- 1128921 Notes lo the Finandal Stattmènts for the year ended 31 December 2023 Sd. St Paul's Malntgnance CBF Deposll Account (Restricted) The Sl Paul's Maintenance Fund comprk%es a Natnal Savings Bond wilh the vae of £8,000.00 and fund5 hekl in the CBF Deposlt Account 89 shown below. 2023 2022 Income Giving ltrrough flo safe Other ¢j0ntttns one.off Grants Fundraising Events Interest 291.04 311.69 Total Ineom# 291.04 311.69 Expendkurè General maintenance ECInctI rep8irslrewiring Clere$tory Windows Archrtect I Inspection lees 132.411 1467.491 1593.891 6.879.181 114.307.601 1348.961 11,732.711 Total Expenditure {2,232.611 {22.129.63) N•t Ineome IIExpeDdirey Resources b•fore transfer 11.941.Fl 121,817.941 Grctss transfer5- in Grc6s transfers- out Net Mo¥em•nt in Funds Total Fund$ brought fomard 11,941.571 121,817.94} 13.841.571 17,976.37 Total Fund5 carried fovward 15.783.141 13.841.571 Summary NatK)nal S8vings CBF Deposit ALuunt 7b 8.000.00 5.783.141 8,000.00 13,841.571 11c 2,21&86 4.158.43
St Paul's Church, Honlton- 1128921 Notes to th• Flnandal Slatements foff the year ended 31 Ooe•mb•r 2023 6. Comporativg Stat•nènt of Financial Actlvltl•s as at 31 Dember 2022 Unrestrithl Designated R•striet•d Funds Funds Funds Endo7hThent Funds Totsl Fund$ 2021 Total Funds Income and EndOlentS from: Donations Bnd LegacEs Infy)me frun Charrtable Activities Olher Trading ACtivitS Investrnents Other Income 48,442.73 27,239.00 4,955.26 1.422.27 660.00 311.69 48,754.42 21,239.00 13,948.76 1,517.64 660.00 42,710.66 21.836.(K) 4.080.73 865.93 872.60 8.993.50 2.11 93.32 Total Ineome and Endowm•nts 76,719.20 B,995.61 405.01 86.119.82 70.365.92 Expèndituro on: R8iding Funds Expenditure on Charitable Adivities 2,324.22 114.997.95 4.388.21 3,693.32 6,712.43 141.878.40 4,280.49 91,760.64 23.187.13 Total EXnture Nel G8inslllossesl on Investrnent 117.322.17 13,225.931 8,081.53 23.187.13 148,51.83 1611.191 13.837.121 96,041.13 4,116.00 Net Incomel(Exwndilur•l 143.828SOI 914.08 122,782.121 1611.191 166.308.131 {21.559.211 Otlw GaIn{lO$Se5) Gross Transfers between Funtjs other Recognised GaFnslllosse$l Net Movement In Funds 143,828.901 914.08 122,782.121 1611.191 166,3Q8.13) 121.559.211 Reconclliatlon of Funds Total Funds brought fon¥xd 309.876.62 514.70 34.778.67 5.215.23 350.385.22 371.944.43 Total Funds carried fop%ard 266.047.72 1.428.78 11,996.55 4,604.04 284,OTI.09 350.385.22 Pay fo
St Paul's Church. Honlton- 1128921 Notss to the Financl41 Statements for th• year ended 31 Dec•mbèr 2023 7. Fixed Assets for use by the PCC 7a. T4nglble X•dA¥$ets It has not been pcEsible to ascribe a hIstCl1 cost to the Wopert$ held by the PCC. A current mwket valuation of Ihe propertE$ held by the PCC ¢8nrh be obt8ined willK)ul incurrir*J vnre8sonable expense. lil The freehold land and bJil¢YiAgs wrnprise St Micha81's L%)Ige whhth Wds acquired frcTh Combe SetU&d Estate or Rich8Td Marker sometime between 1873 and 1901. The PCC took cxjt a mortgage of £26,000 in 2000 IrKJw fulty repaidl to refurbish St Midwe15 Lodge to 8 Sufficient standard for rental. lill Exet D)san Trust is Custodian Trustee of the M8ckarness Hall and the Rector an(1 Churchwarden are th8 Managing TrL¢Stees of this propety. which, on 28 March 2010. reverted back lo the PCC frorn East Devon District Council. liiil Land gifted by Mr Marktr in 1990 is for use as a car pafk at St Mthaeys Church. 7b. InvlMent Rx•dA$$•ts Market Value 3111212022 Unrealised qainslllossèsl Markèt Value 3111212023 1177 Sha in the CBF Church of Engpand Investment Fund 223 shares in the CBF Church of Englar)d Investment Fund (St Michaelsl National Savings Bond lrnaintenancel CBF Dep051t Attounl 115002029D 24,300.22 2,3(.22 26.606.44 4,604.04 8,000.rKJ 10,910.37 436.94 5,040.98 8,000.00 10,910.37 Total mark•t valu• 47.814.83 2.743.16 50,557.79 8. Any$l8 of N•t Assèts ty Fund Unrestrlcted Dosignated Restriet•d Endowment Funds Funds Funds Funds Total Funds 2022 Totsi Funds FrKed Assets lor Church use Investment Fixed Assets Current Assets Current Liabbir(S 37,516.81 213,630.11 110.783.131 8,000.00 2,144.93 5,040.98 50.557.79 47.814.63 229.176.50 253.617.99 114,384.461 117.355.531 13,40f.46 I3,1.33) Balancos 240,363.79 9,800.13 10.144.93 5,040.9B 265,349.83 284.077.09 Page 11
St Paul's Church. Honlton- 1128921 Notss to the FlrAnelal StstemÈntS for th• yèar ended 31 Dec•mb•r 2023 9. D•btors 2023 2022 Dèbtors M8ekarness Hhll General Furk Designated Unrestricted 411.00 5,919.09 1.945.79 1,945.79 6,330.09 10. Creditors 2023 2022 Cr•ditors M8ckaTne8s Hall Outreach Fur¥J General Fund Desjnaled Designated Unrestricted 3,154.85 446.48 10,783.13 1.225.58 16,129.95 14.384.46 17.355.S3 11. Funds l1•. Uftrestrtcted Funds At 3111212022 G•in$ and ILoss•sl At 3111212023 Ineomè Expendir• Transfers Genwal Fund 266,047.72 94,657.21 (106,357.641 116.289.721 2.306.22 240,363.79 266.047.72 94,657.21 (106.357.641 116.289.721 2.306.22 240.363.79 Genw81 fuThJs These funds are xva1l8e lor the general furtherance and obpctives of the PCC. 1lb. De$lgnat•d Funds At 3111212022 Galns and ILossèsl At 3111212023 Ineom¢ Exp•ndltur• Translers Choir Fur¥J 176.21 1,252.57 5.00 7,096.52 451.67 181.21 Mackarness H811 Outreach Fund 114,638.811 1832.751 6.289.72 10,000.LKI 9,618.92 1.428.78 7,553.19 115,471.561 16,289.72 9.800.13 DeSnated funds Choir Fund- These funds are deswJnated for use by Ihe Cho. Mackarness Hall - These funds are design8ted for the running of the Mackarne$8 Hall. Outreach Fund- These funds ale desvJn8ted for the purpose of extending St Paul's MISS and outreach. 1¥99 12
St Paul's Churth, Honlton- 1128921 Plotes to the Finaneral Stslernenls for the year ended 31 December 2023 Ite. R•strlcl•d Funds At 3111212022 Gains and ILossesl At 3111212023 Ineomè Expenditure Transfers Flower Fund Narthex Refurbishment Orn Fund St Paul's Mainlen8nce Youth Fund 658.64 523.24 6,172.66 4.158.43 543.$8 16.41 14_86 171.40 291.04 15.27 144.001 631.05 538.10 6.206.06 2.216.86 552.86 178.1101 12.232.611 15.991 11,996.55 508.98 12,360.elll 10,144.93 ReStrtedrdS Fbwer Fund- FuThJs recewed ar¥J held $irllY for the proviston of flow&rs In St PAul's. Narthex Fund- Funds rerived and held specrfic811y for the upkeep ol the Nwthex. Ofgan Fund- Funds 1Ve and held specifirally for the upkeep ol the organ. St Paul's MaintenanTr- Funds received and held speafically fcr the rnamlenance of St Paul's. Youth Fund- Funds reeeived and hekl SpecifllY for the proviSn of youth servvs. 1ld. Endwment Funds Galns and ILoss•sl At 3111212023 3111212022 Income Expendlture Transfers St Mhaels.5 Churchyard 4.604.04 436.94 S,040.98 4,604.04 436.94 S,040.98 Endowment futsys To be 8ppfi.ed in 8C(x)rdan¢e with the Exeter Diocesan Board of Finance. 12. A¢¢ounting Policie$ These fincial statements have been prepared in c4)mpliance with FRS 102. The Financ1 Reporting Standard applicable irF the UK and the RepublK ol Ireland,, the Statement of Rewmmended Practi applicable to charitie5 prep&ring their awounls n accordance wrth the Financial Reporting Standard applicab in the UK and Republic of Ire18nd IFRS 1021 Icharrties SORP IFRS 102118nd the Charities Act 2011 and in ac¢ordeno wth the Chw¢h Accounti Regulations 1997 as amended by the Church Accounting IArnendmentl RegulgtK)ns 28. The linanaal statements have been prepad under tt* historical cost convention except foi the valuatM)n of investment assets. which a shown at tnarkel value. The financial statements 8re prepared in $terfirrfJ, which the funct81 Currency of the entty. Goin9 concern There are no malerial uncertainties atKJut the PCC'S aknlrty lo continue. Diselosure exemptio The PCC has taken advantage of the exemption in FRS102 from the requiremenl to Produce o cashflow statement because it B sm811 charity. go13
St Paul's Chureh, HonSton- 1128921 Not•s to th• Financial Statment$ for the year ended 31 December 2023 12. Aeeountlng Polt¢ies {¢onlthu Judgèm•nts and koy souree¥ of estimation unw¢ainty The prep8fation ol the f nancial statements requi manogement to make judgements, estimates and assumptk)n8 that affe(I the amounts repc1ed. These estirnotes and judgernents are continually reviewed and 8re b8sed on experience and other lactOl5. including expectation$ of future events that are believed to be reasonable under the oirojmstwces. Cash and ¢ash eqLNvalents Cash and cash equiv8lent5 comprise cash on hand and call depc6its. 8nd other short temi hvjhly IKiuid investrnents that are readily convertible to a known amount of cash and a subject to an insignrftcant risk of chonge in value. Finan¢ial instruments A finttneial asset or a finan87 liability recognised only when the entity beoornes 8 p8rty to the contro¢Xual provisions of the instrument. Basic financ1 instruments are initially re(wnised 81 the amounl receivabte or pay8ble IdIng 8ny rejated tr8ns8¢tton (x)sts, unless the airangemenl 17)nstitute5 8 financing Iran88Ction. where it is reo)gnised at the wesent value of the future YrntS discount at a mwket rate of interest for a similar debt instrument. Current 8ssel$ And current li8bilits.es ar8 subsequently measured at the cash or olher cgnskYer8tK)n expected to be paid or received and not discounted. DEbt instruments are subsequentty rneasured at amortised cost. Funds General funds represent the fuThJs of the PCC that are not suP4eci lo any restrictions regarding theii use and are av8ilable for application on the gener81 purp05e5 01 (he PCC. Funds des¥wated for a partuLr purpc6e by the PCC are Shown as unreslricted in the accounts. The accounts include all transactions. assets and liabilities lor whi¢h Ihe PCC is responsib in law. They do not Clude the ac¢ount5 of church groups that owe their rnain affilislK)n to 8rbJther bckly or th08e that are iThfrnal gatherings of ¢hur¢h members. Incoming Resources Volunt8rylneom• •ndCapitsl Soure•s CO1CtK>nS are recognised when re¢eived by or on behalf of the PCC. InccThe tax recoverab on Gift donations is wued in the accounting year to which it f5 appliceble. Grants and leg8cie8 to the PCC are CoUnted for as soon as the PCC is notified of its legal enIrtMent, the atnount due qU8ntifiab1e and its ultimate receipt by the PCC is reasonably certain. Oth•rlneom• Renlol income frcm the lett4)g of church wemises is fecognised when the rental k% due. Inct)me from Investh7¢nts Dividends 8Te acoJunted foK when due and payable. Interest entrtlements are accounted for 88 they accrue. Tax recoverable on such InMe is Tecognised in the same 8ccounling year. G*ns and Lo$$•$ 4)n Inv8stsn•nts Reolised gatrns or losses are fecogni88d wfien investments are sold. Unrealised gains 01 losses gre atcounted for on revaluation of invÈ5tTnent5 at 31 December. Rèsoufee5 Us•d Gr8nts Grants and donations are a¢Unted for then paid over. or kthen awarded. rf that award creates a binding obligation on the PCC. Actlvlti•s Dir•rtlyRd4tlng to thè Wortt of th• Church The E)iocesan Cornrnon Fund is accounted for when p8id. Any Common Fund unp8id at 31 December but ¢ertain lo be paKI in the lolknwing ye&r, is provided lor in these accounts as an operational (though not a legall Iwbilrty t5 Shown 88 8 creditor in the Balance Sheet. Pog• 14
St Paul's Chuh, Honlton - 1128921 Notes to the Financlal St4t•ments for the year •nd•d 31 December 2023 12. Accounting P1¢1¢$ (con6nt#j Fix•d Assets conrat•d prOrtY8nd Movoblg chUh Furmshlngs Consecrated anij ben¢ficed propwty lor any kind is excluded from the Accounts by s96121 d the Charities Act 1993. Mov8ble thurch lurn15hings hekl by the Rect and Churchwardens on special trust for the PCC. and whth require a IllY tor disposal, ar8 accounted ks inalienable PToperiy unsS consecrated. They are Ilsted in the chLKch's inventory which &gn be in8pe¢led lat any reasonable tsmel. For inalienable property 8cquired prior to 2005 there is insufficient t$1 information available and therefore sueh assets are not Valued in the accounts. Items a¢quired since 1 January 2005 are (¥taIlsed 8nd depreciated in Ihe accounts over their currenly antiCiP8ted useful ecorK)mic life linilially over 10 years) on a straight-line basis. All expenditure incurre(l in the ye8r on nsecrated or benelKed buildings. intlividual items under £500 or on Ihe repair of movab church furnishings acquired before 1 JanLt8ry 2005 is written off. Oth•rFixtures, Flttings gnd Offlce Equipmènt Equipment used within the ¢huich premises is depreciated 8 $traKJht-line basis over 4 years. Indwidual items of equiFwnent th pui¢hase price of £500 or 1858 are Itten off when the asset is acquir. Equipment purchased lor Ihe Ma¢kamess H811 is not deprecwted and the cost fully recognised in the year csf purchase. Investments Inveslmenls are shown at market value at 31 De(ber. Current Asstts Amounts owing to PCC at 31 December in respect of fees, rents OT c*her income a shown 88 debt Jess 5xovi$ion for arnounts that may prove uncollectible. Short-tenll d8posits incknde Lxsh hdd (m deposit either with the CBF Chvrch ol England Funds al the b8nk. P•ge IS
St Paul's Church, Htsnlton- 1128921 Independènt Examlmr's Rgport to thèTrurtees of St Paul's Chureh. Honlton for th• year ènded 31 D•eember 2023 I report to the trustees on my examination of the financial slalement5 of Sl Paul's Church, Honiton for the year ended 31 December 2023. Respectlv? Responslbllltles of the PCC and the Examlner The charllls Ifustees are rgsponslble for the preparatM)n of the accounts. The charr(S trustees conside¥ that an audit is 1 require(* for this year under sectlon 144 of the Charities Act 2011 {Ihe Charitses Act) and that an independent examination is needed. 11 is my responsibility to.. examine the accounts under sectton 145 of the Chanties Act. lo follow the procedures laid down in the general Direclions given by the Charity Commissson (under section 14515llbl of the Chartlies Act, and to stale whether particular matters have come lo my attention. Basls of th1$ Report My examination was carried out in acrdan wrth general DireclKJns given by the Charity Commlssion. examinallon includes a review of the accounung records kept by tho charity and a coniparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees con¢eming any such matters. The procedures undertaken do not provlde al the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a Irue and fair. view and the report is limited to those matters sel out in the slalement below. Indep8ndent Examingrfs Ststement In connection with my examlnalion, no matter has o)me to my attention whlch gives me reasonable cause lo believe tr)al in, any material respect, accounting records were not kept in accordance with seclton 130 of the Charities Act or the accounts do not accord with the accounting recL)rds I have come across no olhei matters in connection with the examination lo which attention should be drawn in ordei to ertable a proper understanding of the accr)unls lo be reached. N Smy ACA Independent Examlner Westcotts Chartered Accountants Queens House New Street Honilon Devon EX14 1BJ Dated: Its>. 8.2 P•g• 16