St Paul's Church. Honlton Flnanclal Statements of the Parochlal Church Council For the year ended 31 December 2024 Charlty number 1128921
St Paul'$ Chur¢N HOn114- 1128921 Flnancial statements of th* Parochial Church Council For theyear •nd•d 31 December 2024 Pag• PCC Annv81 Report Statement of Financial Activit$ Balance Sheet Incorning Resources ResourL¥S Expended 7-17 14otes ttsthe FIn8fic81 Siaternents 18 IndeKtrKknl Exwnlnrfs Report
St Paul'$ Chur¢h Honiton- 1128921 Tru$t•es Annual R•port for the year ended 31 December 2024 AdmiThstrative Infomiation St. PaLtls Cr¢h 1$ Situated in the cer>tre of Honiton and is part of lh8 Opxese of EK8t8r within the Church of EroL8nd. Th8 Corresderce adthess is St Paul's Parish Olfice. 99 Hlgh Streel HonitoD. Dewn EX14 1PG. ASM and Purpose$ St Paul's Parothial Chwth CoLmcI IPCCI ha8 the respon%bilily of c¢weraling with ¢he 1nc)b8nt. the R. Preb. Su8 Roberts. in wfThoting. in the eCt$$t[cal pansh. the whde mis5n of the chwch - pasioral. evangelK81, Social and ecumenKal. It also h8S malnlenance r¢sponsibi1it18s for St Michael's Lodg8 arKJ the M8ckarn8ss Hall in Honitrm aThJ graveyards 81 St hlichaels. Honiton and at Monkten. Structure, Governance 8nd Management Sl Paul's Church regist8rwl charity Ino. 112892118nd the membgrs of the PCC we 8180 the tnBtees. The PCC b a body corporate IP¢C Powe[5 Meagjre 1956, Chuich Repre5enfation Rule5 3)061. The PCC members are re5ponsibk9 for m8king deCiSn$ on all fflatters of general corEern and imwrt8nce to the parish including d8cidino on how the fijnds of the PCC a to be SP8nl. PCC mernbers 8Ie ele¢ted tyy Membe of the wngregation. who are on the electual ioll of the church, at the Annual Parish ¢hur¢h MeetiTrG IAPCMI in accorthnce with the Church Representation Rul8s. During th8 P8riod 1 January 2024 until the date Ihis ieFQrt was signed, the loll)wing s8rwed 8s rnernkrs of Ihe PCC: ExolJl¢io members." Incumbert arKI Chaimian Team Vica¥ Curate hur¢hworden and Vice-Ch8irrnan Secretsry De8nery Syntsy Rewesenlatwes Rev. Preb. Sue Rob8rts Rev. Troy Voysey Scott Angell Duncan Ge8 Deborah Charynan Suzanne Henville James Wilkinson lfrom Juty 20241 lunlil APCM 20251 Treaswer Emity Wilkirbson Julia Beaman Joanna FOrart Jan Geale Suzanne Henvlle Calherin8 Lee Belnda (L) Th81th8r (until APCM 20251 (until APCM 20271 (until APCM 20271 lunlil APCM 20251 lunUI APCM 20261 (until APCM 20261 (until APCM 20261 The PCC wuks Ihrwgh the following working groups.. Finance 8nd Stew8rdship working gmup - whh oversees the llenl finance dirnen$KJn of the at St Paul's by mDnrt(¥ing income and expenditure, budgelng ¢Mrdlnatiig tlw arU&l revlew d Christian Stef rdship of montry tlmjgh giving. Eco Church working group- havlng registered St Patsls Eco Church in Novembw 2018 and fed ts Bron& Awarf in 2023, the wiykiryd group contiiues to hy)k at ways in whi¢h we better Ca for God's Èarth in the areas of INtrship 4nd Teaching, Managernent of Church Buildings aTrJ Land, Ccthmunity and Gbb81 Erygement and Lrf88W8. Clereslory Wiijdows group- a group to plan and iatse funds for the repgir woTk required lo the clerestory WdoW5 and reSu.g damag8 to the rnasonry of the thurch, particul8rty in thè N8rthex and on the wesl of the chtsrth. Heatirw workMggroup- a wup Set up In 2024 to research. plan ond raisefundsfor llew he81in9 in the church. These groups ar8 r8sponsib18 lo th8 PCC and repJt b8ck to it f8gularty with minutes of 1h8ird81iberatK)ns b8ing received by thefull PCC and drscuss8d a8 necessary. Obleclives and Activities Th& PCC. at the erKI of 2024. cnMItt1d to dev81oping, a& g pmrity, they deternin8tTr that St Paul's hav8 8 futlxe ggneralx>n, enabling as m8ny peorAe as rK)ssibb to take part h w0h1p and other a¢liwlie$ at our d)ur¢h. tt)eiefore 0 part of the atlive cornmunty of St. Paul's. Our services and worship aim to pul faith into practice through prayer a1 5CFiPture, music 8nd sacrament. Ther8 were 69 p8rishk)nèrs on the Ebctoral Roll. When annI1 our a1vill8S for the year, the in¢urnbent and th8 PCC ccnsJ8r8d th8 Ccynmlss'S gU8Ce on benefit and in particular, the specrfic guidan on Charities for the advancernent of religion. In par'cular, we try to able people to live Out their faith a5 part ofour pHii5h comrnunity thTough.. Worship aTrY player,. leamir¥J abxtthe Gospel- and developg Ih8ir knOwdge ar¥J trust tn Jesus ProviOn of pasloral ¢are f¢x peop lfving In the parksh and Mkslon oulreoth wcrk
St pa, Chwch Hcnrttsn- 1128921 Trustees Annual R•port for the yarnd•d 31 December 2024 A¢hiev¢ments and P•rformanee Whip, Pr8yerand Outreach The PCC a keen lo off81 a range of Services during the w8ek and ovw thÈ wurse of the year that our cmMUnY find both benefiual and 5pirrtually illing. Al are welcom8 to 8118rn1 our services. detaik of which can be knjnd on the parish web5rte'. wwrbV.honitoncof8.org. With support from the diocese, a monthly intergeneratior¥al service was started in 2024 to r88ch out to peopb ho 8r8 kss famdiar with chur¢h or want to exploie theirfaith in a dfflerenl way. As w8118s our reoular 5ervKes, we enable our communty lo cdetrate and thank God at the mibstones ol journey through lrfe. Through toplism we thank G¢xJ for the gfft of life, in marriage public VO are exchanged God's bSSirJ and ttr¢ugh funer servKes friends lamity express their grief and gNe thanks for Ihe lffe which is r•Dw 0)mple In this workl and to eLxmm8nd the person into Gods keeping. Olher areas of artreach indut1e Coffee M¢xnirvJs on Saturys and Tuesdays, 'T¢)asty Tuesdaf breakfasts onr a week, regu13r season81 a¢livits & worship aThed at f8mllies and young people, developing links with trKh rrf our c¢mmunity pTim8ry schods In the town. prayer groups. a Prayer Chain, and fellowship groups. The deroy and lay fftembers of the churth visit I1 retirement and nursing hcmes on a iegulgr basis, and Revd SedtAngdl 15 devekw'ng the ro of an Ann8 Chaplain Together with Ihe othgr parishes d the Mission Community, we aga¥i ran a Rest and Refreshment tent at th8 Honlton Show wtth wa5 vwy well re¢eived by the publio The Pansh offi ¢onlinue5 to be st8lf8d fN 3 mornirys each week. In January 2019. Sl Michael's chUh was transferred to the care of the DK)¢88e of Exeter. The PCC'S DJ¥rent r&spOnb1ty Is to catry ryjt weekly iTrspedon reporting to th8 Dse as newsary. Flnancial Review Total income was £102.338 and planned gNing increased to £29.511. Inc(The indvd8d fundr8i%irJ of £10,148 plus a fund-matched grant of £7.500 for the heatiry proied. Total eXpditure was £186,889, which included a total of £11.117 Spent on repairs lo the Ma¢karnsss Hall and boiler. £28.1S8 spent on the r8P8irs to the church ¢ower. and £11.647 5penl cn Traw heatino for th church. The rt re5uh for the year. 81ter indudthg gain5 on imieth6nts, Wd8 a loss of inccthe over expenditure of £63,. Th8 PCC desKJnaied £100.000 of general fun¢Ys to be US for repair of ihe church, 8nd anothèr £10.193 of gener81 funds was transfwd to the M2ckarn8s$ Hall to cover the cost of rnc8ssary repairs. The balance. after including am transfers, fold in unrestricted funds and ¢aNie loard at 31 D8¢ember. decxeased lo £100,457. Total funds amounted to £201.5rJ. Total thnd5 of £257 re raised foT water¢j and RABI, and a further £3tK) was donated from geTher41 lund5 to 5UPPKlrt the Sunday Schoo15 in Zambia. The PCC was ab tg pay ft$ 2024 COMM Fund ass8ssrnent c1£43,893 in fvll. ftr¥•5 Policy It PCC polKy to Irf pDs$iNel tnaintain a balance on unrestricted funds whi¢h equaies to approximatety srK month$ unreslriL1ed payments, to cover any ernerpnc that may aris9. In 2013 the PCC agreed ryo maintain a balance on unreslrifAed funds Irf possibltrl which equates to approxim8tely four rwnihs unrestricted pa>Thents with th8 hcpe that, when f nance5 albwed, it would be possible lo retvrn to a b81ance of six morths re5wvos for unrestricted funds It 1$ PCC to inv8St with CCLA in a CBF Church d ETrJLgnd Deposit AttnI 8Th1 C8F Church ol England Investrn8nl Funds. Invèstments are revalu&l at the end of each financial y88r. Appolnlments The follong were apPOtsd and sewj as side5P8rsons during the y8ar'. Bollon. Val Devewux. Val F058e. Jill Hamitton. Belin(ta Th81cher. Weslcott5was apponled as lTrJependeTrt Examvier. Volunteers We would lika lo thank 8n our volunteers wlK> work so h8rd on behaw of the Church. In particular w8 WJId like lo mentsm our churchkwdrden. Duncan Gèale. who has put in Ir8mendou$ effort lo m81ntal and irnprove Ihe church, Julia Bear) for Insplrin9 and leadfftg fUndraing efforts fortho heating and everyonewho has enabtsd th8 chwch to continuetogrow Ilouri5h. Approved bylhe PCC on and signed on their t*hobY Th• R•v(L Preb. Susan Robert$ IPCC ¢ImnI
St Paul'$ ChUh Hontton- 1128921 StatemeDI of Finan¢lal A¢tivill•s torth• y••nd•d 31 D•¢•mber 2024 Unrestricted D¢sign8tsd Fund5 Fund5 Rt$tri¢td Entlowment Funds Funds Total 2023 Funds Total Funds Note Income and Endowments Imm.. Lbnalions and Legaaes Ilne from Charite AdDlitiè$ Other Trading A¢livthe5 InvementS 0th8r Inccffie 44,426.14 20.578.87 4,515.08 3,221.20 94.95 16,771.12 61.263.76 20.578.87 16,487.22 3.913.58 94.95 63,435.76 22,513.36 13,24162 2,725.74 800.90 10,460.49 360.65 1,511.65 331.73 Total Income and End0entS 72,836.24 10.887.64 18,614.$0 102,33&3 102,719.38 Exp¢nditur• on- Raising Funds Expenditure OD Char4ta)le knlfjvwes 3,858.30 99,967.77 16.450.34 34.013.00 257. 14 12,342.56 20.565.78 146,323.33 21.797.35 102,392.45 Total Expèndilvre GainlI0588sI on Investment 103.828.07 fj08 98 So.434 12,599.70 186,889.11 724.37 124,189.80 2,743.16 7b 115.39 N•t IncunellExpenditurel 130J80.851 139,575.701 6.014.80 115.39 183l28.36} 118.727261 Transfers Gr(tss Iransfet5 itwEen Funds 1109,525.601 109,525.60 0th8r Recognised GainsllhJs$8sI Net Movement in Funds (139.906.451 69,949.90 6,01&80 115.39 163.828.361 118,727261 R•conciliation of Furlds rot41 Funds brtsughl forw¥d 240,36179 9,800.13 10,144.93 5,040.98 265,349.83 284,077.09 Total Funds carrfed fopward 11)0,457.34 79.750.03 16,159.73 S,156.37 201,523A7 265,349.83 Thtr staternent offtnancial xtMlie5 I[ludeS all gair6 ar¥J bss85 in the ywr and therefore a 518tement of total recogni8ed gains and k)5S85 has not been wepared. The 20Y6 MporatIve statement oflinartial aGINitie$ 1$ In note 6. Approved by Ihe PCC on and svJned on thar by 15">"20J% Th• R•vd. Prnb. Susan ROrtS IPCC Chaimi*nl The notes en pages 5- 17 lorm part ofthe8e xcounts P4g• 3
st Paul'8 Church. Hot¢S- 1128921 Balance Sh¢¢t fof th• y•ar end•il 31 D8c•rnb•r 2024 3111212024 3111212023 Note Fi¥•d A5$ets Inveslments 7b 51,282.16 50,557.79 51,28116 50.557.79 Current Asgets Debtors Cash at Bank and In Hand 12,99293 167,823.31 1,945.79 227.230.71 180.81624 229,176.50 Li•blliU•$ Cr8dilors'. Amounts falling due In year 10 130,574.931 114.384.461 N•1 Cufrènt Assets less Current 8bllIeS 150,241.31 214.75104 Total Net Assets $$ Uabfjlltts 201.52147 265,349.83 Represented by Unrestricted General Fund 1DJ,457.34 240.363.79 Designated Choir FurKI Mackarness Haa Ouir8ach Fund st Pauls Fal Fund 189.87 181.21 7.718.48 71.841.68 9.618.92 R•stiict•d Flower Fur Narthex Refurbkth)eTrt Organ Fund St Paul's Maintenance St Paul's Healing Youlh Fund Sa. Sb 659.45 563.81 fj.087.68 2.848.15 6,000.64 631.05 538.10 6,206.06 2,216.86 sf 552.86 Endowment Sl Michad5 Churchyard 7b 5.15&37 5.040.98 Funds of Church 201.52&47 265.349.83 The notes on pages 5- 17 fotrn pari of thgse accaunts.
St Paul'$ ¢hur¢h. HOn1¢- 1128921 In¢cffiln9 R•sour¢ lor theyear ending 31 December 2024 Unrestricted Funds Designated Restricted Endo¥nnent Fund$ Funds Funds Total Fund5 2023 Total Funds 2 Incomo and Endownet 2a Donations and LÈga¢ie5 Flanned Gimng Y81k>w Envebpes Looso Plate QA1$jnS Colle¢bons Spec4al Servic88 Giwng through Wall Sale One-off Donatior Cont8flles$ Giving Tax Recoverable on Grft AKI LeGacie$ One-off GTanls 29,510.86 326.00 4,665.38 157.$8 1,077.31 1,792.99 645.00 6,251.02 29.510.86 326.00 4.665.38 219.58 1,436.43 1,797.49 9.557.00 6,251.02 25,822.37 455.00 3.721.82 605.10 1.347.83 3,946.17 62.00 359.12 4.50 8,912.00 7.258.97 20,125.00 100.00 7.500.00 7.500.00 4V28.14 16,771.12 61.263.76 63,43&76 2b Incom• Irr Charilable Activities Tearn Fe85 for Burials Tearn Fe8s ex¢. BuDaL% Chur¢h Letting5 Crypt Letting$ Fore¢ourt Lettirw5 Lodg8 Letting 9,233.00 3,423.00 817.87 475.1)0 30.00 6,600.00 9,233.00 3.423.00 817.87 475.00 30.00 6,600.00 9.744.00 3.845.(K) 1,179.36 1.125.(M) 20.00 6.6LM).QO 20,578.87 20.578.B7 22,513.36 2c OtherTrading Activities Fund R8ising- Charrtable MissK>n Fund Raising- Churth Fund Rai5ing- Speufic Prqeds Coffe& MornirvJs Church Groups I Cltjbs Procoeds frorn Events Mackarne55 Hall Letting5 256.72 168.50 256.72 168.50 1.511.65 3,395.56 632.30 798.49 9.724.00 465.37 1.043.55 1.511.85 3.395.56 632.30 62.00 3,747.93 623.27 266.98 7.096.52 736.49 9,724.00 4,515.08 10.460.49 1.511.65 16,487.22 13,243.62 2d Inveslments Int8resl and Divkyends 3,221.20 360.6S 331.73 3,913.58 2,725.74 3,221.20 360.65 331.73 3.913.58 2,725.74 2• Oth•r In¢om• Printlnglphotocopying Roch8rges 9118neDuS 80.00 14.95 793.00 14.95 94.95 95 800.90 Total Income and Endovnn•nts 72,83&24 10,887.64 18.61&50 102.338.38 102,719.38 P4g• 5
St Paul'• Chur¢h. Honlton- 1128921 Resour¢$ Expended for tho y¢¥nd•d 31 Oe¢embÈr 2024 Uni*$tricted Fund5 Designated Restricted Endowment Funds Funds Funds Total Funds 2023 Totsl Fvnds Exp•ndltuT• 3a Raisiny Funds KitCn Running Costs Macknrness Hall Costs Mackarne55 Hall UtAity BilL% St Michads Lge costs Fundraising EXperrture 1.313.18 415.44 13,074.74 2.960.16 1.728.62 13,074.74 2,960.16 2.491.66 310.60 1,164.31 16,332.54 2,482.36 1.770.58 47.56 2,491.66 53.46 257.14 3,85&30 16.450.34 257.14 20,$6&78 21,797.35 3b Exp¢ndhur• on Charltsble Actfvtti¢$ Common Fund charitab Mission Payments Stsff Salanes Cl8rgy Expenses o$t ol S&rvI$ Churth Running ExptrTrse8 Organist Fees Fbwer5 Youth Olhef Outread) Insurance St P8ufs Man18nanc Health and Safely Inspedi Fees R8fUrbhMenI Costs St Paufs Utility Bills Sl Paufs Forecourt Sl Michael's Churchyard Monkton Churthyard Administration Phone Bitlslbroadband Printing and PhotpyIng Costs Bank Charges Professional Fe8S Mi5cell8neous Expenses 43.89&00 556.72 8,527.25 4,320.00 1,429.38 1.094.52 750.00 43,893. 556.72 12.409.20 4.320.00 1,817.50 1,490.52 750.00 43,395.00 843.83 12.O19.43 4.320.00 1.561.24 2,798.66 825.00 44.00 5.99 1,075.85 4,860.70 1,392.61 1,872.46 207.50 12,869.22 365.00 8,10648 480.00 195.05 648.07 1.314.60 252.33 2.283.48 655.95 3.881.95 388.12 396.00 32.62 5.557.68 1.584.61 552.88 2.170.09 5,557.68 24.332.72 1,895.53 11,007.47 16.735.77 527.99 9.199.73 180.(KJ 588.98 691.17 1.fj81.23 432.46 6.021.60 63.97 24,332.72 1.895.53 11.(K)7.47 16,735.77 527.99 9,199.73 180.(K> 588.98 691.17 1,681.23 328.23 1,914.00 63.97 104.23 282.00 3,825.eO 99,967.77 34.013.00 12,342.56 146,323.33 102,392.45 Total Expenithture 103.82&07 50.463.34 12.599.70 166,889.11 q2418&80
st Paul's churc Honlton- 1128921 N01•5 Its th• Financi•l Slat•ment5 for the yewended 31 Dember 2024 4. Staff Costs Staff Salar$ Duriro th8 y8arthe PGC errsployed 1 adrnni5tratOTarbd 1 Clner, rbone of whom weT8 paid more than £10.000 in t(rtal. T8mpor8ry cfg8nists were wnpbyed durfng thè year. No rnember ofthe PCC claim8d Ifaveling u subsL8lence expenses. Redathed expense5 by PCC rnernber5 fcy costs curr9d on beh81fol the church amounted lo £4,563.78. PL4nn8d giving frorn m8mb8rs of th8 PCC arntyJnt8d to £2,687.06. 5a. D•po$il Accoun15 Th8 PCC'$ d8posIt acwjnt is held wtthin the C8F Chjrch of England FuThls. CBF Funds 2023 Net translew5 Intefe5t Interest Irestrictedl lunrestrictedl 2024 General Narthex Refurbishment St Paufs Ma41tsnan¢e OryaTr Youlh Choir 34,571.20 538.10 2,570. 1,774.68 38,915.88 563.81 15,151.851 6.087.68 25.71 15,783.141 6,206.06 552.86 181.21 594.41 631.29 1396.001 1552.861 277.62 8.66 189.87 622.81 7,718.48 28.40 Outre&h 9.618.92 12,252.431 351.99 46,479.82 331.73 2.13S.33 48,946.68 Sb. FIr Fund Cuff•nt Account (Reslrictedl In addrtn, to funds held for flowers in the CBF Dep(61 At¢ounL thè flow8rfund current a¢wJnt 15 rnanaged by Belind8 Thalther, Ih perMisS)n ofthe PGC. 2024 2023 Re(p¢S Donath)ns Interest Poymtnls Flowers etc. Net Alovement in Funds Total Funds brought fonvard 36.64 36.64 Total Funds carrfed fowward 36.64 Page 7
St Payl'• Chu Honlti)n- 1128921 Notes to the Flnand41 Statements for th •nded 31 December 2024 SL Mackarness Hall Account IDe5bJn8bJl See note 781iil. 2024 2023 Income Lèttings Interest 9,724.00 7,096.52 Total Income 9,7XOO 7.096.52 Expent1rture 12,960.161 13.881.951 12.482.361 14.290.361 Salaries Insuran Running CostsNaintenance 113,074.741 17,866.fr31 Tot•1 •xpenditure I19.9165) 114.638.81} Net Inc¢Yne 4Exp•nitur•l R•sources before transfer 110,192.851 17,542.291 Gross trdnsfers- in Gr05$ transfer5- Out 10.192.85 6.289.72 Net Movement in Fvnds Tolal Fund5 brought fon¥ard 11,252.571 1.252.57 Totsl Funds ¢•rri•d fcThard Page 8
St Paul'• Chur¢h. Honlton- 1128921 Notes to the Financial Slatements for th• y•ar ended 31 Decernber 2024 Sd. St Paul's Malnt•nan¢ CBF D•posl¢ A¢wunl IRestFictJl Tha St Paul's mat'nten0n Fund comSeS a National Savirys Bond th the value of£8,000.00 fund$ tsk1 the CBF Deposit Account as Slown beh)w. 2024 In¢ome Giving through fiocy saf8 Contactless GNino On¥>ff Grants FundralsltYJ Events Interest 359.12 276.00 291.04 Total In¢om• 635.12 291.04 Expendilu General maintenance El8CtrirAI repairslr8wiriTrg chilect I Inspedton fees Fees M Conta(15 giv#ig 132.411 1467.491 11,732.711 13.831 Total Expenditure 13.831 12,232.61) Net InC(e IIExpenrfiturel Re50WC05 beloretransler 631.29 11,941.5n Gross transfers- Gr0>5 transfers- out N•t Mov•nent in Funds Total Funds brought fowward 631.29 15.783.141 11,941.57 13.841.57 Tot•1 Funds ¢ath•d fomard 16,161.851 15.783.14} Summary Natio Savings CBF Deposil Atxounl 7b 8,000.00 15.151.851 8.000.00 15.783.141 11¢ 2.848.15 2,216.86 P8ge 9
St Paul'8 Churcty HOton- 1128921 Not•9 lo the Finanaal Statements lor th• yar ended 31 Ikernber 2024 S•. St Paul's F•brlc Fund Itignatedl In 2024, oeneral fund5 of £100,000 d?gnat*d th8 r8par and rnaintthan of & Paul's Church. Funds held in ihe St Paul's Fabric Fut)d are Sh b810w. 2024 2023 In¢om• Interest Tot•1 In¢¢m• Expenditure General maintènancè CleTèStory Window5 Tower Repair5 Architect I 1nSfft" fees 14,991.521 112.848.001 16.493.201 I3,825.) Total Expenditvre 128,158.321 Net Inc9 IIExpenditurel Re50vrces b•fore transfer 128.158.321 Gross transfers. in Gross tran$lws- oul 100.000.00 N•t Movèment in Funds Total Funds brought forwwd 71.841.68 Total Fund5 carri8d forward 71,841.68 Pag• 10
S¢ Paul'$ Chur¢ty Monlt+)n- 1128921 Not•s to the Financlal Stat•m•nts lor th• y•ar+nded 31 DecembFr 2024 Sf. St PA,* Hoatlno Fund (Restred) In 2024. funds were ralsed lo improve Ihe heating of th& thur¢h. The fuNls hekl in the Sl Pauls Heating Fund are shown bebw. 2024 2023 Incorne Give lo Go Gen ¢ampaign Give lo Go Gt lund-matching grant Organ CthcertS ChrL4trna5 Fayr? 7.908.00 7,500.00 1,610.20 629.45 Total Income 17,647.65 Exponditure Heaters In5tallHlion eosts Facuty Organ concert expenses C8rd Fees on Cwlactless Glv(ng 18,403.Q)I 12.e04.471 1282.001 1257.141 1100.401 Totsl Expenditure 111,647.011 N¢t Ith¢0 IIExpenditurel Resour$ before transfer 6,000.64 Gross transfers- in GrcEs iransfers. out Net Movqment in Funds Total Funds brought folward 6,000.64 Total Funits Ured fuward 6,000.64 P8g• 11
St Paul'• Chur¢lK Honlton- 1128921 Note$ to Finan¢io1 SM•tement$ lorth• y•ar end•d 31 D8c•rnb•r 2024 6. Comparative Statement of Flnanclal Adlvlttes Is at 31 D•umbbr 2023 Unr•5tritt•d D•slgnahd Funds Funds R•$trTrcled Endowment Funds Funds Total 2022 Fund$ Total Funds Not• Incom and Endtswments from.. Don81iort5 and Legacies In¢ryne from Charitable Actwities Ott)er Trading A¢b"vrtiEs Investments Other Income 63.094.72 22,513.36 5,880.12 2.3fj8.11 800.KI 50.00 291.04 63,435.76 22,513.36 13,243.62 2,725.74 800.90 48,754.42 21.239.00 13.948.76 1,517.64 660.00 7,363.50 139.69 217.94 Total Inccffle and Endo¥ments 94.65T.21 7,5S3.19 508.98 102.719.38 86,119.82 ExndIr on: Raising FUd5 Exp8Trditure on Charitable Acllvrtks 11.448.90 94,908.74 10.348.45 5.123.11 21.797.35 102,392.45 6,712.43 141.878.40 2,0.60 Total Expenditure Gansll105s8sI on Inve8tment 106,357.64 2,306.22 1SA71.58 2,360.60 124,189.80 2,743.18 148,590.83 13,837.121 7b 436.94 N•¢ In¢om•llExp•ndiiurel 19.394.211 17,918.371 11,8S1.621 436.94 118,727.261 166,308.131 Transfers Grw transfers belwft Funds 116,289.721 16,289.72 Other Recognised G8inslll¢)ssesl Net Movem•nt In Funds 125,683.931 8,371.35 11,851.621 436.94 118.727261 186J08.131 Reconc55ialion of Funds Totsl Funds brouoht lor4v¥d 266,047.72 1,428.78 11,99&55 4.604.04 284,077.09 350,38522 Total Fund5 ¢arri•d forward 240,363.79 9,800.13 lo.193 S.040.98 265.349.83 284,077.09 Page 12
St Paul's Chur¢h. Honlton- 1128921 Not•s to th• Flnanclal Statements for the year ended 31 Defflber 2024 7. Flx•d Assets for vse by the P¢C 74. fanpible Fix•dAssets It has noi been possible lo ascribe a hi$1CC?l ¢ost tts the propertbs l]eld by the PCC. A oJrr8nt market valuation of Ihe propwdes heNY by ihe PCC fannot be obtained Without incurring unreasonable expense. lil Thè freèhold and building$ cwjwise St MiLaal's Lcx190 which ws acquired from Crmbg Settled Estate or RSchard IAarker sometime beh¥een 1873 and 1901. The PCC took out 8 of £26,¢XK) in 2000 In(wrf luty reF1) to refirt)ish St Mich8el'5 Lodge lo a sulficient standard for rertal. lill Exetw Dio(san Tw5t is Custodian Trustee d the Mackarness M811 and the Rector and Churchwaiden aT8 Ihe Managing Trustees orthi5 property, whKh, on 28 March 2010. r&verl&1 back to the PGC Imm East Oevon Dislricl Counal. 7b. IVentxAs$•ts Mark¢tV•lue 3111212023 Unreali5ed insll105sesl Market Value 3111W2024 1177 shares +n the CBF Church of Engnd IFw8stmènÈ Fund 223 5h8res in the CBF Church of England Invesltnenl Fund ISI Michael's d)urd)yardl Natlonal Savings Bond Imaintenanc81 CBF Deposit Accounl 1150020290 26.606.44 608.98 27.215.42 5.040.98 8,000.00 10,910.37 115.39 5,156.37 8.000.00 10.910.37 Total marketvalue 50,557.79 724.37 51,28118 8. Analys1$ of N•tA55ets by Fund Unrestricted O•slgnat•d Funds Funfl$ Re$td¢t•d Endo*mont Funds Funds Total Funds 2023 Total Funds Fixed A8s8ts for Church use Inve5trnenl FrKed Assets Curr8ntA55ets Currenl Liabilits85 38,125.79 8.000.00 67.562.96 94,525.08 18.728.20 15.231.411 114.775.051 110.568.471 5.156.37 51,282.16 50,557.79 180,816.24 229,176.5CI 130,574.931 114.384.461 B•lances 100,4S7.34 79.750.03 18,1S9.73 5,15&37 201.$23.47 265,349.83 Page 13
St Paul's ChurclK Honlton- 1128921 Note$ IL) ¢h¢ Financial Stst•m•nts for th y••r•rbd•d 31 December 2024 9. Debtcffs 2024 2023 Debtors General Fun eallng Fund UnTeslr8d R8Stri¢ted 5,492.93 7.500.00 1.945.79 12,992.93 1,945.79 10. Cr8thtor5 2024 2023 ¢r¢ditors Mackarness Plall Outr8ach Fund General FuFbd Fabric Fund H8aliTrg Fund Designated De5wJnat8d Unrestricted Desrunate Restrthd 472.05 761.40 5,231.41 13,541.60 10,568.47 3,154.85 446.48 10,783.13 30,57&93 14,384.46 11. Futhd5 Il•. Unr•sthcled Funds At 3111W2023 Gains and ILos$t$l At 3111J2024 Income Expenditure Transfers General Fund 240.363.79 72,83&24 1103.826.071 (109.525.601 fjCfj.98 100,457.34 240,363.79 72M36.24 1103,82&071 1109.52&601 e08.98 100A57.34 General funds Th88& funds are avai8 lorthe gener81 furtheranrA and O.eVes of the PCC. Ilb. D8signatedFunds Gains and IL05ses1 At 3111212024 3111W2023 Inc• Exp•ndtlufe Transfers chr Fund Mackarness Hall Oulreh Fund Fabrfc Fund 181.21 8.66 9,724.00 1,154.Y8 189.87 119,91fj.851 12.388.171 128.15B.321 10.192.85 1667.251 100.OtM).00 9,618.92 7,718.48 71,841.68 9,800.13 10,887.64 150,463.341 109,525.60 79.7SO.03 Design&leatlunds Choir FurKI- Th&5e fund5 are dosignal8d for use by th8 clf. Mackarne5s Hal- These frJnd8 are d8Slgnated fly the wnning olthe Mackamess Ha51. Outr8ach Fund- These fur*Js a desIgted lor the purpose of extending St Paul's rnissDn 8nd outreach. Fabric Fund- These funds are t1esignated for Ihe repair and m8intenance of St Paul'8 Church. Page 14
St Paul's churc Honlton- 1128921 Notes to the Financial Stat¢m•nts for tho year •nd•d 31 Dectrnber 2024 Ilc. R•strictedFund8 At 3111212023 Gains and (Losses) At 3111%2024 Income EXnditr• Tr4nsfers Flower Fur¥J Narthex Refurbishment Organ Fund Healiro Fund St P8uI'$ Maintenaneè Yrrtjth Fund 631.05 538.10 6,206.06 28.40 25.71 277.62 17.647.65 635.12 659.45 5fj3.81 6,087.68 e,(.64 2,848.15 1396.001 111,647.011 13.831 1552.861 2.216.86 552.86 10.144.93 18.614SO {12,$99.701 18,159.73 Restrictedfvnds Flower Fu- FurK rec8W8d h8k8 Sficaty forthe pS1On dflowers in St P8uI's. Narthex Fund- Funds reived and he ¥eofically for th8 upkeep of Narthex. Ofgan Fund- Fund5 received and held sp8cfficalW for upkeep of the or9an. Heating Fund- Funds re1ve(l and held speUrral forthe imwovement of the healing system at St Pauls Church. St Paul's Maintenance- Funds weiveo and held speCifilIyfar the maintenarr of St Paul's. Youth Fund- Funds ieceiv8d and hekl specifically for the provision ol th servKe& Ild. Endowm•ntFund$ Galn$ an ILos$•sl At 3111212024 3111¥2023 Inc¢Jm• Expendilure Transfers St K4icha8L8's Churchywd 5,040.98 115.39 5.156.37 5.040.98 11S.39 5,1K37 Endowrnent lunds To be appld in ac(xydanc6wfth the Exeter threS8n 8rd of Finance. 12. A¢¢ounllng Polictes Th&s8 finanaal $lalements have prep8r8d in rmpli8nc8 with FRS 102, The Financial Reporting Sta[rd applicabk the UK and the Republ of Ireland., the Stat8rn8nl of Reccmmended Pradice applicable to chatitias preparing their a(%ounts accordan vrith the Fnanual Repxyting Stsndard appIl¢ab In UK Repu of Ireland IFRS 1021 Ichathies SORP IFRS 102118nd the Charities Ad 2011 and in aG(x>rdgnce ilh the Church Accounting ReguLqtioTrs 1997 a5 arnended by the Church Accounting (Amendment) Reouknlion5 2W6. Th8 finanaal statements have b88n preFqred undgr hiStOral ftsl eA)nvention excepl valuation of nveslmenl as$ets, whh are shown at market Valu8. The financial atements are prepared in sterling, lch 15 the futiOnal currency of the )Ity. Going ¢on¢wn There are no rnateri81 U[KrtaintI8s PCC'S abllity to contlnue. Disclosur• •x8mOl0ns Ihe PCC has taken advant•Je (rf th¢ exemkion in FRS12 ficffl the requirement lo produ(* a ¢asPfflow Statement because it small charity. Page IS
St Paul's Church. Honlton- 1128921 Not05 to the Financial Statements for the year ended 31 December 2024 12. Accounting Polld•s (¢oniiftu•dJ Judgements and key souK•$ of•St8{10 uncert8inty The preparation of the finanoal statements requires manapmeTrt to make judgements, eStateS and assumptions that 8ffe¢t th8 amounts reported. These estimates and judgnentS are continually review8d and are based on expern¢e and otlEr factor5, including expectations of future eve$ ihat are believed lo be reasonable under the circuMstare5. CBsh and cash equivalents Cash and cash equfvalents comprise cash on hand and call d8POSrt5, and oth8r sh¢Jt t8rm highty14uid inve8tm8nts that are readlly CoVertible to a known amount d cash and are subi8¢ttO an isignrfi¢anl risk of chanp in v8kJe. Firtancial instruments A finan¢ial asset LY a finanual liabilty K recogTrised when the 8ntly b0M&S a psrty io Ihe conlractsjal pr¢%slon$ of Ihe instrumert. Basic financial instruments are initially recognised al the amount receivable or payable ildIng any related Iransa¢lK)n cos14 nless the arrangement ¢onstrtules a finan¢lng transaction, where 11 15 re(y)gni5ed at Ihe present value of Ihe fLrture paymenls ¢iscounta at a market rale of interest for a simihr debt instFum8nt. Current 85sels and current liabifit5 are subsequertly m88wJr8d al the cash or oih8f cofsskleration 8XP8Cted to be paid or receivod aTrd not dBcounled. Debt hsirurrT8nts are subwu8ntly rneasur8d at amortised cost. Fund$ General funds repr88ent the funds of the PCC that are not subjed to any restrict)ng regarding their se and are available foi aplication on thg oenwal purposes of the PCC. Fund5 desNJnaled for a particular wrpose by the PCC are shown as Unrestrted in Ihe acLX)unt8. The accounts indude all Iran8actK)ns, assets and babilit8 for which Ihe PCC is rÈ8ponsible In law Ttt&y do nol indude the accouFts of church oroups that their mavi affiliation tts another bExly or those Ihat a informal galherings of church members. In¢¢)mlng R•sources Volunlarylncome and C8pltal Sour¢•s CollÈctions a rniSed when eNed by oron behaWofth• PCC. Incornetax r8c(y4erable on Grft Aid donatron5 15 accrued in thp aGWUnting year to whKh it is apptKable. Granis and the PCC Ore accounted for as sw) as the PCC is notffjied of fts legal enliuement, the amount due is quanlifuble and its ullimate receiprt by the PCC is r6asonabty certain. Otherlncome Rental inccme fr(Kn Ihe lettina of church premlses b recognised then the rental Is due. Income from Investhlents Dividends ar? acwunted for when due and payable. Interest enliuements are a¢£ounted foi as they accrue. Tax recov8rabla on such Incorlle 15 1tt09nised in the same accoting y8ar. G8ln$ •ndLosse5 on Inv•sthionts Realised gain5 or losses are recognised ¥¥hen inv8Strn8nts are sdd. Unrealis6d g8ins (K k)sses are a¢xounted for on revaluation of Inlnts St 31 Ikeemr. Resources Used Grants Grants and donation5 are ac(y)untedfor wh8n paKI over. or bvhen aw¥ded, rf Ih6t 4ward creates a binding obligatioll on th8 PCC. Ac¢ivitlo$ Dlre¢tly R•lUng to the Work of th• Chur¢h The DI0$an C(mmon Fund 1$ a¢colted for when paid. Any Common Fund Unpa al 31 December bknt certain lo be paid in the frjllowing year, provided for in these accounts as an operath?nal (though mt a legall liabilty and is shown as 8 ueditor in the Balance She8t. Page 16
St Paul's Chur¢h, HOton- 1128921 Not•s to th• Fin•n¢fjal Statements for the year ended 31 Decernbor 2024 12. Accounting Policie$ i¢onllnu•¢J Flx•d Assot$ Consecrated Property 8ndAloval4• Church FumlshltJg$ Consecral&d and benefi¢ed wopertyfoi any kind Is excluded from the &(tou5 by $96(21 of Chaiilles PLt 1993. Movabk church ftJFnishings held by the Rect atKI Churchwardens on speual Iru$l for the PCC, arnl which requi a facully for ssposl. a )unted a5 Inalnab yopwty unless consecrated. They 4re li51ed in the churth's inventory which can be in5pected18t any reasonabl& timel For nalienable propèrty acquired prior to 2005 there is 1nsuffKient Wst inforniatDn availab and therefore such assets are not valued in Ihe acwunls. acquired sinGe 1 January 2005 are capitslised afid dewecwled in the 8c¢thJnts ovw their Cl1 atIpated uselul economic llte linitialty over 10 year51 on 8 Straight-line ba515. l expendrtwe incurred in th& year t>)nse¢raÈed or benefKed building$, individual rtems under £SIX) or on the repair of movabk church furnshings a(y4uThd befcfe 1 January 2005 is wri118n off. OtherFlxturn$. Flttlnos •nd Offlr$ Equ1&•1 Equipment used Mthin t1 thurch prerni5es is depreciated cn a $traighl-Ilne basis er 4 years. Individual iterns of equip¥nenl with purchase price of £500 or less are Mrtlen off whèn the asset is acquired Equipment purchased frK the Matk2rness Hall is not depreciated and the cost fuHy r8cognised in th8 y88r of purchase. Inv05tments Inv8Stm8nl8 ar8 shown at market value al 31 De(mber. Currtnt A658ts Arnounts owing lo PCC 8t 31 Dgcembw in respe¢t of lees. rents or other income are shown as detrAors 8$ provIsM for amounts that may prove UnCleite. Short-temi deposls include c4sh ho on deposit either with the CBF Church of Englar¥J Funds or at the bank. Page 17
St P8uI's Church, HOton- 1128921 Independent Examiner's R8Wtto IheTnMtoe5 of St Paul's Church, Honitolb for the year ended 31 Decernber 2024 I reFK)rt to the Iruslees on rny examination of the financ181 statements of St Paul's Church, Honiton for the year ended 31 December 2024. Respective ResponslbllltlK of the PCC and the Examiner The charity's trustees are responsible for the preparation of the accounts. The charitys trustees consider that an audit Is not rgquired for this yeaT under section 144 of Ihtr Charllies Aet 2011 Ilhe Charities Act) and that an independent examination is needed. 11 is my responsibility to.. èxamine thè accounts undèr section 145 of the Charities Act. to follow the procedures laid down in the general Directions given by the Chanty Gr1$S1On (under sgCtk)n 14515llbl of the Charltitrs Ad, and to state whether particular matters have come to my attention. Basis of this Report My examination was cBrried out In accordance wilh general Directions given by the Chaflty Commission. examination includ85 a review of th8 ottounting recx)rds kept by the charity and a comparison of the accounts prèsèntgd with thos? rec¢xds. 11 also Includès con8ider8tDn of any unusual items or disclosures in the accounts, and seeking eXanationS from the Irusls conceming ary such matters. The procedures undgrtakan do not provide 811 the evHlence that would be iequired in an audit. and consequenuy no opinion is given as lo whethgr the 8c¢ounts pres8nt a tru8 and fair, view and thè report is Ilmited to those matters set out in the statement below. Ind•p•nd•nt Examin•rf$ Statèmènt In conngction wth rny exarninalion, no mattér has com to my attentn which gives me reosonable cause to believe that in, any rnalerial respect, accounting records were rKt kept in accordance vfith section 130 of thè Charities Aet or Ihè accounts do not accord wfth the accountlng records I have Come across rK) ther matters in connection with èx8min8tion to which attention should be drawn in order to enable a propel uThJerstandlng of the accounis to be reached. Smy ACA Indep•ndfrnt Examln•r Westeotts Chartered Accountants Queens House New Streel Honiton Devon EX14 1BJ Dated: Ib 1015 P•g• 18