2023-12-31-accounts

The Parochial Church Council of Glastonbury St John the Baptist A Christian Spiritual Centre at the heart of the town, for everyone Annual Trustees Report and Accounts Year ended 31 December 2023 DIOCESE OF Bath&Wells Living the siory. Telling the story. Registered Charity No 1129016 Page I

Administrative Information Glastonbury St John the Baptist (St John's) Church is situated in Glastonbury, Somerset. It is part of the Diocese of Bath and Wells within the Church of England. The correspondence address is High StreeL Glastonbury, Somerset. BA6 9DR. Vicar Prebendary David MacGeoch Priest-in-charge 2008-2011. Vicar 2011 Training Curates Revd Michele Kitto Revd Kieron Rowley Signed-off- July 2023 Ordained- June 2023 Pioneer Minister {Glastonbury and Street) The Revd Diana Greenfield Moved-on to new post- September 2023 Reader5 Liz Clark Readers P.T.O. Margaret Wynn Di Grenter Philippa Chapman Annie Wynter-croft The Parochial Church Council (PCC) is a Tegistered charity with the Charity Commission. PCC members who have served from l January 2023 until the date this report was approved are". Joy Taylor (PCC Secretary) Arthur Way (PCC Treasurer) Gareth Heazell Ronnie Harkness Edward MacGeoch Geoff Snell Derek Dorey 2021-2024 (2" tenn) 2021-2024 (2" term) 2020-2023 (I" tenn) 2021-2024 (I" term) 2022-2025 (I" term) 2022-2025 (I" temi) 2023-2026 (I" temi) Deanery Synod Representatives Mary Masters David Randall 2023-2026 2023-2026 Church Wardens elected annually. May not serve more than 6 years David Smith 2023-2024 Ex Offlcio Members Stuart Clark (Safeguardin8 Officer from October 2017) The Bath & Wells Diocesan Board of Finance hold title to propety belonging to the PCC Page 2

Structure, Governance and Management The method of appointment of PCC member5 is set out in the Church Representation Rules. All Church attendees are encouraged to register on th¢ Electoral Roll and stand for election to the PCC. Members are elected for a three year terni and tnay be re-elected for a furth¢r three-year temi, after which they must stand down. Deanery Synod Representstive5 are elected every thr¢e Y￿r$ throughout tlie Diocese- next election 2026. Mary Masters and David Randall are our serving members. The PCC continued its pattem of regular meetings Committees Standing Committee The Standing Committee is the only requir¢d ¢ommittee. consisting of the Incumbent, Churchwarden4 Treasur¢r and Co-options who have the power to Qonduot the business of the PCC between meetings. subject to any directions given by the PCC. Finance Committee This is an infom)al committee wl)ich attends to matt¢rs relating to the stewardship of the planL church and centre buildings and their contents. and the Churchyard. lis members serye at the pleasure of the PCC. Fabric Committee This is an infomjal committee which attends to matters relating to th¢ st¢wardship of the plant, church and centre buildings and their contents, and the churchyard. Its members setve at the pleasure of the PCC. Objectives and Activities Si John's PCC has the responsibility of co-operating with the Incumbent in promoting in the ¢¢clesiastical parish the whole mission of th¢ ChuKh, pastoral, evangelistic, social. and ecumenical. Th¢ PCC also has maintenance responsibilities for the St John the Baptist Church, High Street. Glastonbury, and associated property. St John's Cent￿, 3 Church Lane, and the garage off Arcliers Way. Public Benefit The trustees have paid due regard to the Charity Commission's guidance on public benefit in decidin8 what activities the charity should undertake. The trustees Consider that they have acted in the public benefit. Achievements and Performance Church Attendance and the Electoral Roll 2023 There are 124 tnembers on the Electoral Roll. Revlew of 2023 The PCC met 7 times during the year. St John's PCC continued to meet separately duriftg 2023 with the meetings being held in The Church Lane Hub or The Vicarage. The Jneelings all began with an act of worship. Sunday and mid-w¢¢k Churcli services continued. The Sunday services were all live-streamed. St John's hosted a wide variety of music and choral events during the year organized by our Events Organizer- Matthew Redman and these continued to be well- supported. Our community project- known as"W¢ll-being Mondays" continued to provide a variety of group activities whicli remain popular and well_attended. Various fund-raising events were held during the year and these generated much needed income. We made some payments towards our Parish Share but our income was not sufficient to meet our total Parish Share liability to the Dioces¢. We remain grateful to the Diocesan Board of Finance for t]ieir understanding during what continues to be a difficult ￿rIOd for the St John's finances. The refurbishment of the Church Lane Hub (fom)erly the St John's Centre) was completed in February and tjie building now provides a spacious and welcoming venue for a variety of groups. R¢v¢rend Kieron Rowley was ordained at a service in Bath Abbey in June. During the year we said goodbye to two of our clergy team. Reverend Michele Kitto left tlie area and was signed-off in July and R¢verend Diana Greenfield also moved away from the area taking up a new ministry in North Wales. Both will be missed and both are thanked for their loyal service to the Benefice. Finally. we thank every one of our volunteers and members of our congregation who continue to give so generously both of their tim¢ and financially in order to keep St John's op¢n and a vital part of the community it serves. Page 3

Securing the Future Project The Securing the Future Pmject was finally signed-off by our Heritage Lottery Fund Adviser during the year. The final payment of £28,703 being received from the Heritsge Lottery Fund in October. In order for the project to be si8n¢d-off it was necessary to provide our Heritage LA)ttery Adviser with a spreadsheet detailing the nutnber of volunteer hours given by the officers and members of the ¢ongregation of St John's during the project. It was estimated these total¢d over 20,600 and whcn converted into a monetary benefit using the calculator suggested by tlie our Heritage Lott¢ry Adviser- this equates to over £120,000 of volunteer time. A truly staggering achievement by all involved and one which enabled the project to be delivered. Looking For4vard in 2024 The main priority in 2024 will be to slabilize the St John's finances. The Stewardship campaign was again postponed in 2023 because of tlie cost of living crisis aff¢¢ting many but will held during 2024 with advice being sought from the Diocesan Board of Finance. Our Gift Aid ¢laims on the donations and gifts received remain a vital source of income and we remain grateful to those who continue to give so generously. Financial Review There was a decrease in the overall funds held which was not unexpected in view of inflationary pressures leading to an incr¢as¢ in running costs and a reduction in in¢om¢. The value of the Fixed Assets held with the CBF have increased and dividends received from these investments ¢ontinu¢d to be a valuable source of income. As stsled in previous years, apart from the St John's Centre, the fixed assets are beyond use by the PCC. On the advice of the Diocesan Board of Finance the Trustees designate the CBF & COIF Investments as Endowed Funds. The Benelice Fund shows an excess of income over expenditure £1.054.00 at the year-end. The Iinancial position in 2023 was again cliallenging. Reserves Policy It is PCC policy to maintain all accounts at CAF Bank Ltd and the CBF Church of England Deposit Fund. It has been tradition thc interest is designated for the Fabric Fund but the Trust¢es voted in 2023 to designate the interest for the General Fund moving forward. This policy will be revi¢w¢d from time to time as appropriate. The PCC ensures there is sufficient reserves available to meet six months running and staffing costs. The total funds held at the end of the year w¢r¢ £467.868 of which £125,000 were held as tangibl¢ fixed assets and £218.118 were held as investments. Total unrestricted funds (excluding fixed assets and designated funds) ai 31 December 2023 were £30,484. Free reserves continue to be b¢low th¢ requircd level. However, the Trustees are confid¢nl that reserves will increase in the coming year. The fabric funds at 31 December 2023 was £89,953. Approv¢d by th¢ PCC on 20, March 2024 and signed on their behalf by.. Pre Vicar ndary David MacGeoch Arthur Way Treasurer David Smith Churchwarden Page 4

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31$¢ December 2023 Unrestrieted Funds Restri¢ted Fund$ Ertdowment Total Prior year FuThds Funds Funds Income and 8ndowments from.. Donations and lega￿e5 Incorr£ trern charitsbl& activit￿9 Olhfrr IradiTrJ activit￿9 Invesbments 50,557 17.684 18,817 8,988 96,046 50,621 17,684 45,929 9,052 123,286 52.317 16,139 48,569 6,753 123,779 27,112 Total Incomo Inote 21 27.240 Expendlture on: Costs of generating funds ExperKliture on ¢harilabk acbvitES Olherexpendilure Total expenditur8 (nots 31 10,630 90,685 200 101,616 10.630 766,978 200 177,808 8,092 147,873 665 166,630 76.293 76,293 Cains l ￿$Se3 on investment assets Net Income I lexpenditurel res¢)urces before tran$lr 18,479 18,479 18,479 126,0631 136.0431 158.9141 15,4691 149,0531 Transfe Cross transfers betr￿en funds- in Gross transfers betr￿en funds- out Other r8cognised galrbs I Ioss88 Gain5 on revaluation, fixed 8558ts, charitys own use Net movemenl in funds 44,350 44,350 144,3501 I44.3￿) 38,B81 193.4031 18,479 136.0431 158.9141 Totsl fvnds broughl ftrward 206,156 98,117 199.638 503,911 562.825 Total funds carried fi)r%rard 245,037 4.714 218,118 467.86B 503.911 Repre$ented by Unreslricted General fund Designated 155,484 155,484 125.343 Clergy Dtscreiion Fabricfund 140)) 89.953 14001 89.953 12001 81,013 Restrlcted Bell-Ringer$ fund Ben2fi(* lund Gapitsl Campaign Music Scholatship School House Sl John5 Centre Endowment Charity Investments 7.044 1.054 8,936 2,258 48,150 741 1.034 14581 14581 12,927 12.¥2n 40.WJO 218.118 218,118 199,638 All income and expenditure derive from continuing activities The statement of financial activities includes all gains and losses recognized during the year Page 5

Balance sheet as at 31 December 2023 C15s and eode This 5rx]0010 5000tr20 note 7 SlJohn Centre CBF COE Inveslmert 101D)1545S COIF Charity Inve51meni 110930CIJ1T Total ￿￿ed assets 125,000 67.250 150,867 343.118 125.000 61.468 138.170 '324k638 cl￿11 Cl￿5 C1506 C1507 C1508 C1510 D1510 SIS￿note 8 Z05 note 9 CAF Bank CuNeniP£d Otfj20131 CAF Bank Benefi￿Ary￿ 1x1j￿86 CAF Bank Bell Fund Ar￿unt(%]0g￿87 CAF Bank Covenant AL¥ oc1￿)88 CAF Bank FabiicAccl 00096089 CAF Bar Capital Appeal CuThentO(k)21613 CBF Churth ofEngland Dwsit Stock- Shop Debtors Total Cunwttassets 5.685 1,647 7,033 4,617 75.391 1.192 7,125 2,356 57.097 l(K) 4.057 126,716 1ixJ 32,815 181,091 4kbllitips .204 notè 10 Credito Total Liabililtes 1.818 1.818 1.966 tAssetSUFplus(t￿¢rtI 1167.868 503.911 Reservos Note11 Represenied by fvnd$ Unrestrithd Designated Restricted Endovjment Tolal 155.484 89.553 4.714 218.118 467.868 125.343 80.813 98,117 199.638 503.911 The financial statements were 4YroV￿ bythe PCC and aUtI￿lseA1 for issue (ffi 2￿ March 2024 and signed on their behalf by: endary David macGe￿h Vicar Arthur Way David Smith Pagc 6

Notes to the Finaneial Statements for the year ended 31>1 Dec¢mb¢r 2023 l. Accounting Policies Basis of preparation Th¢ accounts (financial statements) have been prepared under the htstorical ¢0st ¢onveTttion with item5 recognised at cost or trdn5action value unless otherwise stated in the relevant notes to th¢5¢ accounts. The financial statements have been prepared in ¢coTdance with the Charities SORP {FRS 102) 'AccouTtting and Reporting by Charities.. Statement of recommended practice applicableto charities preparing theiraccounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) and the Financial Rep)rting Standard applicable in the Unit¢d Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared togive a'true and fair, view and have deported from the Charities (Accountsand Reports) Regulations 2008 only to the extent required to provide a 'true and fair view, This departure has involved following the Accounting and Reporting by Charities.. Siatement of Recomtnended Practice applicable to charities preparing th¢ir a¢¢ounts in accordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) rather than the AccountÉng and Reporting by Charities.. Ststement of Recomtnended Practic¢ ¢ffectiv¢ from l April 2005 which has since been withdrawn. The tn]5t ¢on5titutes a public benefit entity as defmed by FRS 102. The financial stateTneTrts are prepared in sterling which is the functional Cltrrency of the charity and rounded to th¢ nearest pound. There are no signifieant areas of judgements or key sources of estimation uncertainty- Mattrikl untertkinty related to going concern The toial fllnds held at the end of the year were £467.868 of which £125,000 were held as tangible fixed assets 2nd £218,118 were held as investments in an endowment fund. Total unrestricted funds i.e. free reserves (excludino fixed assets and designated funds) at 31 December 2023 were £30,484. The fre¢ reserves held have been severely depleted over the past three yeaTS. The charity hold5 desionated fllnds for the fabric of the building of £89.953. The trustees have prepared a budget for the forthcoming year and are focused on generating sufTicient income to replace the reserves spent and the increasing income derived from events 2nd the ¢xpected income from hiring the newly re￿rb1$hed Centre will aid St John's recovery over the coming yea￿. Legal status of the charity The charity is an unincorporated charity constituted by a deed of trust Funds Unrestricted funds can be used in accordance with the eharitable obje¢tives at the discretion of the twstees. Designated funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects. Restricted fund5 can only be used for particular restricted purposes within the objects of ihe ¢harity. Restrietions arise when specified by the donor or when funds are rdised for particular restricted PUTposes. The Revaluation reserve ¢onsists of surpluses arising on the revaluation of properties. This fund may only be used on ihe sale of the properties. by release to ullrestri¢ted funds. Further explanation of the nature and purpose of each fllnd is included in the notes to the financial State￿ents. The accounts include all transaction5. assets and liabilities for which the PCC is responsible in law. They do not include the a¢¢ounts of charitable groups that owe iheir affiliation to another tK)dy nor those that are informal gatherings of ChU￿h members. Incorne reeognition All income is recognized once the charity has entitlement to the income, there is suffi¢ient certainty or re¢eipt and so it is probable that the income will be received, &nd the amount of income receivable ¢#n be m¢a5ured reliably. Other trading activities are fllnds raised by festivals and shop income and Similar events and are accounted for gross. Dividends and investments are accounted for when reeeivabl¢ ex¢ept for Bank interest when unpaid interest is accrued. Tax recoverable on such income is recognized in the sam¢ a¢¢ounting year. GAins and losses on investments Realized gains or losses are rwognized when investments are sold. Unrealized gains or10sse5 are accounted for on revaluation of investments at 3 1st December. Page 7

Expenditure recognition Liabiliti¢s aT¢ r¢cognized as expenditure as soon as there is a legal or eonstructive obligation ¢omrnitting the charity to that expenditure, it is probable that settlement will be required 2nd the 2tnount of the obligation can be measured reliably. All expenditure is a¢count¢d for on an ￿CrUal$ basis. All expenses, including support Costs and governan¢e costs, ar¢ allO￿ted or apportioned to the applicabl¢ expenditure heading5 in the statement of fmancial activities. Irrecoverabl¢ VAT is charged against the expenditure heading for whi¢h il was in¢urred. Tangible fixed a$sets St John's C¢ntr¢ is held at open market value at the balance sheet date. All movements arising from revaluation are shown in the SOFA. Consecrated and ben¢fi¢e Property is not included in the accounts in accordance with s.96(2){a) of the Charities Act 2011. Movable church furnishings held by the Incumbent and d]urehwardens on special trnst for the PCC and whi¢h require a faculty for disposal ar¢ inali¢nabl¢ property, listed in the church's inventory, which can be in5peeted (at any repsonable time). For anyihino acquired prior ÉO 2000 th¢r¢ is in5uffi¢ient cosl inforn)ation available and iherefoie such assets are not valued in the financial statements. Subsequently n(Tr individual item has cost more than £1,000 so all such expenditure h35 been written off wh¢n incu￿ed. Individual items of equiptn¢nt used within the church premises with a puichase price of £500 or less are written off when the asset is acquiTed. Stoek Stock represents the value of the eomrn¢rcial and sacristy inventory. Stock is held at the lower of cost and net reali2able valu¢. Investments Investments are valued at maTket valu¢ at 31st December. Debtors Amounts owing to the PCC at 3 Isi Deeember in resp¢¢t of fees, rent5 orother income are shown as debtors less pmvisions foramounts that may prove uncollectable. Cash at bank and in hand Cash at bank and cash in hand includes cash and short t¢rm highly liquid investments with a short maturity of three months or less from th¢ date of acquisition or opening of the deposit or simi12r aceounl. Creditors #nd provisions Creditors are r¢cognized where the charity has a present obligation resulting frorn a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation Can be rneasur¢d or esti￿ated r¢liably. Creditors are nomially recognized at their settlement amount after allowing for any trade discounts due. Pen5ion5 Employees of the charity are entitled to join a defined contribution 'money purchase, schetne managed by NEST. The Church's ontribution is r¢strict¢d to the contributions disclosed in note 5. There were no outstanding contributions 2t the year end. Financial instruments The charity only has finan¢ial assets and financial liabilities of a kind that qualify as basic financial instrutnent5. Basi¢ financial in5trum¢nts are initially r¢¢ognized at transaction Yalue and subsequently measured at their settletnent value with th¢ exception of bank loans which aTe subsequently measured at amortised cost using the effective interest method. Page 8

1. Analysis of income Unrestrieted Desi nated Restricted Endowment This Last ear INCOME AND ENDOWMENTS Donatlons and legacles 0101- Covenant- Bank 0110- Covenant- 018nge Envelopes 0301SD- Loose Plate Collections- Small Donation 0302- FunlWedlBap Collections 0501- Gift Aid- One-off Gifts 0550- Donations, Appeals, etc. 0555- Contactless Donations 0601- Tax Recoverable on Grft Aid 0560- Vergor Fundirig 0901- other grants 29.440 1,203 521 29,440 1,203 521 29,983 2,081 462 553 3.625 4,414 2,476 6,325 2.000 533 3,625 4,478 2,476 6,325 2,000 348 6.795 10,145 Total 50,557 64 50,621 52,317 Income from charitable activities 0203- Charity Specific- In 0910- Festivals Income 0915- Events Income 285 1.545 15.854 17.684 285 1.545 1.489 Total 17,684 18.139 Other trading activities 1030- Church - Rent 1101 Fees- Funerals and Weddings 1230- Church- Letlings 1231- Commercial- Food 1231A- Commercial- Food-Bar 0901- Olher Fund5 Generated 1040- Centre- Rent 0903- Music income 0905- Soryal Income 09(￿- Hospitality Donations 0907- Sacristy Reimbursement 0912- Flowers Incomè 1350- Benefice- Income 1352- Benefi￿- BMA 1360- Benefice- Pkjneer Minister Refund 1382- Benefice-Admin Cont-st Margaret's Chapel 7.000 4.g31 210 264 7,0 4,931 210 264 7,000 4.753 370 1.018 121 2,027 150 895 3CM) 2.057 165 502 92 430 160 895 300 2.057 165 502 92 430 25,114 11.0921 921 126 295 31,141 11.0921 1.589 24.954 {1,0921 921 2,328 2,328 1.070 Total 18.817 27,112 45.929 48.569 Investments 1001 Dividends 1020- Bank Interest 8.045 895 8,940 8,045 1007 9,052 6,313 439 6,753 47 Total INCOME TOTAL 87.106 27.240 123,286 123,779 Page 9

2. Analysls of expendlture Costs of generating fund$

3. Festivals Expenses 1750- Fund-Raising Expense 17S5- Events Organizer 1760- Events Expenses 1,307 1.037 2,096 383 4,992 620 8.092 4,992 4,331 10,630 4.992 4,331 10,630 Toial Expenditure on charttsble activities 1801 Charity Specific- Out 1810- Fe6s- FunÈra151VVeddings 1901 - Fees- B&W DBF Parish Shorg 1920- Fees- B&W DBF Other 2010- Musl¢ D1￿Clor 2110- Benefice- Sl John's Contrfbution 2112- Beneffice- Officè Telephone 2115- Benefice- Hospitality 211A- Benefice- Administrator 211AO- Benefice- PAYE Admin Fee 211AT- Benefice- Administrator- Taxes- NIC 211 B- Benefte- Office Equipment 211C- Beneficè- Office Suppli0$ 211P- Benefice- Administrator- Pension 2121 Befiefice - Vicar Books 2122- Benefi￿- Vicar Telephone 2123- Benefi￿- Vicar Discrets'onary 2125- Benefi￿-v￿r Mileage 2126- Benefice- Vicar Path￿ra￿S 2127- Benefi￿- Vicar Rel￿81 305 2.450 7.500 305 2.450 7.500 2,680 16,000 15 6,567 18,048 15 6,567 18,048 6.567 22.8 1.062 87 9,775 292 125 1.062 87 9,775 292 125 950 26 11,599 292 551 1,468 4,956 1.023 1,468 4,956 1,023 1.272 2.830 1,274 143 1,196 1,088 2,398 60 300 1,189 1,009 2,826 1,189 1,009 2,826 84 2128- Benefice- Vicar Hospitalty 2129- BenefI￿- Vicar Subscriptions 212H - Benefice- Vicar Other 2151- Benefice- Pioneer Books 2152 - Benefice- Pioneer Telephone 2154- Benefi¢e- Pioneer Hospilalily 2155- Benefice- Pioneer Mileage 2156- Benefice- Plone$r Parkttr8ns 2159- Benefice- Pioneer Subscriptions 215H- Benefice- Pioneer Othef 2190- Benefice- Curate Mileage 2191- 8enefice- Curate Parktrrans 2192 - Benefice- Curate Telephone 2193 - Benefice- Curate Hospitality 2194- Benefice- Curate Books 2198- BenefJ¢e- Curate Other 2220- Music Expenses 2225- Mu$1¢ Scholarship 2301- Church Expense- Insurance 2320- OrganlPkino Tuninglmaintenan 2330- Church Expense- Maintenance 2331- Churth Expense- Cleaning 516 202 132 31 516 202 132 31 632 202 109 124 655 115 134 124 855 115 134 92 950 148 158 1C 275 21 71X) 242 67 172 106 275 21 700 242 67 172 690 13 339 29 107 196 1,055 600 3.362 1,502 1.776 1.200 1,200 4,033 228 4,033 228 9QX) 9W 710 $46 546 1.731 Page 10

2340- Church Expense- Seujrity 2445- Caretaker-Pension 2366- Websile- Hostsng 2367- Website- Other 2380- Church Expense- Sacristry 2401- Churd) Expense- Ele¢trirAty 2410. Church Expense- Gas 2420- Church Expense- Water 2430- Church Expense- Broadband 2435- Church Expense- Storage 2440- Church Expense- Caretaker 2450-Church expense- Vvasle Dlsposal 2470- Church Expell5e- Other 2475- Flowers Expenses 2540- Centre Expense- Gas 2550- Centre Expense- Insurance 2560- Centre Expense- Repairs 2570- Centre Expense- Other 2580- Centre Expense- Water 2590- Centre Expense- Cleaning 26D1 Exarnination Fee 2602- Bank Charges 2520- Centré Expense- Security 2730- Church Expense- Repairs 2196- Benefice- Curate Subscriptions 2195- Benefice- Curate Retreat 278057- C8pil81 C8TTIP8ign- StF- Other 7010- BellRinger$ Expense 1,880 338 315 1,880 338 315 2,021 290 1,132 10,115 12,695 586 1,067 1.132 10.115 12,695 586 1.067 1.362 2,660 3,751 451 801 1.540 1,865 6,639 1301 6.639 1301 5,412 683 2.769 1.196 421 5,412 683 2,769 1.196 43,378 6,539 730 594 459 30.898 42.957 178 200 912 143 324 178 200 912 143 324 415 420 801 3.540 3.800 3.800 2.812 18 147,873 Totsl 90,685 78.293 166.978 other expendlture 9910- Clergy Discretion 200 200 200 200 200 177,808 e65 665 156.e30 Total EXPENDITURE TOTAL 101,315 76.293 Included in expenditure is the Indepéndent Examiners fee of £93612022- £8011 4. Trust8•s' r8mun•ration and ￿n￿ritS, and related party transactions The Trustee Edward MacGeoch was employed as Caretaker and received remuneration of£1,14012022'. £1,655). There were no other trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trust*•s' eX￿n$•S There were no trustee expenses forthe year ended 31 December 202312022.. nill. Related party transactions There were no related party transa¢tions for the ye8r ended 31 December 2023 {2022.' nill. Total trustee and key management pèrsonnel remuneration was £1,14012022.. £1,655) Donations are receNed from trustees as they are member5 of the congregation. All donations from trustees are given wthout conditions. Page IJ

Staff costs 2023 ff) 18.421 2022 (£J Wages and salaries Social security costs Other pension ojsts 16,404 676 826 19,099 17,030 During the yearlhe PCC employed 412022.. 4) members of staff. r￿e ofvthom eamed £60,CKIO pa or more. Flxed 4$8ets Freehold land and bulldings Gross book value At 1st January 2023 Al 31st December 2023 125,000 125,OCKI Depreciation At 1st January 2023 Charge At 3181 December 2023 Net l>ook value At 1st Jantjary 2023 At 31st December 2023 125,000 125,000 Sl John'$ Centre was valued in November 2021. The PCC having taken advice. believes the presènt rnarkel value of St John's Centre remains iealislic at £125,000. The market value is reviewed biannually or at sud) times the PCC fee15 appropriate. Investments Asat (Lossl l Gain Asat 01.01.2023 31.12.2023 Listed investments.. CBF COE Investsnent 61.467 138,170 {5,7831 112,6971 {18,4801 67.250 CBF Charities Investsnent Fund 150,867 199,637 218,117 stock 2023 2022 Shop goods 100 10D 100 Debtors 2023 2022 Incorne lax recoverable A(trued grant In￿Me Other debtors 3.825 3.625 28,703 287 432 4.057 32,615 Poge 12

10. Llabilities: amounts falllng due wlthln one yèar 2023 2022 Accruals 1,816 1.818 Other creditors 150 1.818 11. Funds Fund movement by type nin Incomin oin Trnnsfers Gainsllosses Closin CapCamp- Capltsl Compaign Restricted Sub-total for Ca￿aMP Centre . St Johns Centre 48,150 48,150 3,800 3,800 {44,350) 144,3501 Restricted 40.030 40,030 42,957 42,957 12,927) 12,9271 sub.total for Centre Chln- Charity Investments Endowment 199,639 199,639 18.479 18,479 218,118 218,118 Sub4otal for Chln ClgyDise - Clèrgy Discretion Designated sub.total for ClgyDIsc MusSch- Music S¢holarship Restricted (2001 12001 200 14001 14001 200 741 1.200 14581 14581 Sub-total for Mussch 741 1,200 General - General fund Unrestricted 125,342 87.107 101,315 44,350 155.484 Sub-total for General 125,342 87,107 101,315 44,350 155,484 Fabric- Fabric fund Designated Sub-total for Fabri Benefice . Benefice fund 81.013 81,013 8,940 8.940 89,953 89,953 Restricted 2,258 27,132 28,338 1,054 Sub-total for Bènèfi¢tr 2,258 27,132 28.336 1,054 8ellRinger- Bell-Ringers fund Reslricled 6,936 108 7.044 Sub-total for BellRinger Grand totsl 6.936 503,911 108 7,044 467,868 123,286 177,808 18,479 Page 13

A description of the purpose of each fijnd Capital campaign- this restricted fund is for the Tepalr of floor and reorderfng of churd). Clergy Discretion-this designated fund is for the use of the clergy 81 their discretion. Fabr￿ Fund- this designated fund is for the repair of the fabrtc of the building Benefice- this restricted fund is for the expenses of stsffing and running of the benefice Bell-Ringers- Ihis restricted fund is for the repalr of the bells. Centre- St Johns Cent￿- this is reslrided for the iefurbishmenl of the building Music Scholarship- this restricted fund is for music scholarship expense5 The CBF Church of England Inveslmgnt and COIF Charity Investment fixed assets are from legacies received during 2004. The prtncApJe is not available for use by the PCC, but the ino)me from the investments is applied lo repairs of the church fabric. The work funded by the capital campaign restricted fund was completed rn the year. Costs relating lo this campaign had been posted to unrestricted funds. Therefore a transferwas made from the capital campaign fvnd lo the general fund. Analysis of net assets per fund Unrestrfcled fund 125.(M)O Dosignated fvnds Reslricled funds Endowment funds 218,118 2023 tot81 funds 343.118 Fixed assets Current assets 32,449 89.953 4,714 126.716 (1,9661 11,9681 Long term liabilities 155,484 89,953 218.118 467.868 Page 14

1. Comparative Statement of Financial Activities Unrestricted Designated Restrleted Endowment funds funds funds funds Total Prlor year funds total fund$ Income and endowments frern: Oonalions and legacies Incom8 from Char￿ab￿ acbvites Other IradirrfJ act1vrt￿S Inve3knents Total Income Inote 21 52,317 16,139 15,110 52,317 16,139 48,569 72,776 9,276 46,985 750 6.753 7,503 32.708 83.567 32,708 123.779 134,891 Expendlture c￿. Costs of generatsng funds Expenditure on ch8ritable acbvitie$ Other expenditure Tot41 gxpenditur8 Inots 31 8,092 86,(￿3 8.092 147.873 665 166,630 8.848 171,168 002 182.018 61.810 665 665 94,165 61.810 Galns I losses on investment assets Net inGcml le¥penditurel resources b8foro transfÈr 26.0S3 126,0631 110,5881 6,838 129,1021 1S8,9141 118,9111 TYan$l Gross transfer5 behveen funds- in Gross transfers belween funds- out Other recognised gains 11055es Gains on revaluation. fixed assets. charitls own use Net movement In funds T¢)tal fund5 brought forward 135929 127 219 225 701 5B1 736 Total lun(ls ¢arrled foThrard 125.343 80.813 98.117 199.638 503.911 S62,825 Represented by Unr85trlcted General fund 125.243 125,343 135.931 Designated Ckrgy DBcreth)n Fabric fund 12WI 81,013 12001 81.013 73,510 R8strlcted Bell-Ringers lund Benefice fu Capital Campalgn Music Scholarshlp School House St Johns Centre 6,9 2,258 48,150 741 8,936 2,258 48,150 741 6.955 12.3061 50.978 1.341 40.030 40.030 70,250 Eftdowment Charity Investments 199,￿8 199,638 225,701 Comparativ¢ analysis of net assets per fund Unrestricted funds 125,000 82,974 11,8181 RestriGted funds Endowment funds 199,638 2022 total funds 324.638 181,091 FiKed assets Current assets Gurreni liabl￿t¢S Long temi li8￿1￿CleS 98.117 206156 199.838 503,911 Page 15

Independent Examinerfs Report to the Trustees of The Parochlal Church Councll of Glastonbury St John I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 set out on pages 5 to 15. Respective responsibilities of trustees and examiner As the ¢harity's trustees you are responsible for the preparation of the accounts in accordance with the requlrements of the Charilies A¢1 20111.the Acl'l. It is my responsibility to". examine the accounts under section 145 of the Charities Act. to follow the procedures laid down in the general Directions given by Ihe Charity Commission {Ur￿er Section 14515llbl of the Charities Act. and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the 8ccounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes wnsideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees COn￿mIng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as lo whether the accounts present a 'Iiue and fair. view and the report is limited to those matters set out in the statement below. Independent examiner's statement- matter of concern identified I have ¢ompleted my examination. I have identified a matter of materi81 concern in my report because I have concerns about the ¢harity's ability to continue as a going con￿rn. I draw attention to note 1 in the financial statements which notes that the free reserves held by the Charity have been severely depleted over the past three years and are now at critical level. As described on note 1, the Trustees are focused on generating sufficient income to replenish reserves, however there still remained a matter of material Significan￿ regarding going concern, al the date of signing my examinerfs report. In connection with my examination. no material matters have come to my attention which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act.. or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and conlenl of accounts set out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have come across no other niatters in connection with the examination to which attention should ￿ drawn in this report in order to enable a proper understanding of the accounts to be reached. Fiona we5￿00d FCA Monahans 3 Landmark House Wirral Park Road Glastonbury Somersel BA6 9FR Page 16