The Parochial Church Council of Glastonbury St John the Baptist A Christian Spirltual Centre at the heart of the town, for everyone Annual Trustees Report and Accounts Year ended 31 December 2024 DIOCESE OF Bath&Wells Living the story. Telling thè story. Registered Charity No 1129016 Page I Administrative Information Glastonbury St John the Baptist {St John"s) Church is situated in Glaslonbury, Somerset. It is part of the Diocese of Bath and Wells w'ithin the Church of England. The correspondence address is High Street. Glastonbury, Somerset. BA6 9DR. Vicar Prebendary David MacGeoch Priest-in-charge ?008-?01 I Vicar ?011- 07 September ?0?4 in Vacancy from 07 septem1￿r 2024 Training Curates Revd Kieron Row"ley Ordained- June ?0?" R¢aders Di Grenter Philippa Chapman Annie Wynter-Croft- until October ?0?4 Readers P.T.O Margarei Wynn - until December ?024 The Parochial Church Council (PCC) is a regyistered charity with the Charity Commission. PCC members ho have served trom l January ?0?4 until the date this report Vils approved are: Joy Taylor (PCC Secretary) Arthur Way {PCC Treasurer) Ronnie Harkness Edward MacGeoch Geoff Snell James Spark-es Hannah Nott 20?1-?O?i l?nd term) ?tMI 20?1-?02i (_ term) ?0?4_?0?71?nd tem) ?O??_ until September ?024 ?O??_?O?i I I" tenn) ?0?4.?0?7 ( I. lerm) Co-opted from June ?024 Deanery Svnod Representatives Mary Maslers David Randall 20?j-?0?6 ?O?j-?016 Church Wardens elected annuallTr. MaTr' not sen'e more than 6 vears David Smith (Lay Chairnian trom 071091?0?4) 20?4-?0?j Derek Dorey 20?4-?0?j Benefice Safeguarding Officer Helen Roper The Bath & Wells Diocesan Board of Finance hold title to property belonoing to the PCC Page 2 Structure, Governance and Management The method of appointiiient ot PCC members is set our in ihe Church Representation Rules. All Church attendees are en¢oiira¥ed to register on the Elecioral Roll and stand for el¢¢tion io the PCC. Meinbers are clected for a Iliree-i'ear tem and maN" b¢ re-elected for a further three-i'ear iemi. after li hich ihei" musi sthnd do%%n. DeaneTh" si.nod Representatives are elected even three l.ears throuuhout the Dic￿ese. neil eleciion ?0?6. Man. Masiers and David Randall are our serving Tn¢mbers. The PCC continued its pattern of reoular meetings. Committees Standing Committee The StandingJ Committee is the onl!. requtred commtttee. ¢onststing of the IncumknL Churchiiardens. Treasurer and Co-options i1.ho have thc poiier to conduct the business of the PCC beThieen meetings. subjeci io an!. dir¢¢tions byiven bv th¢ PCC. Finance Committee This is an infomal ¢ommillee ii'hich attends to maners relating to the steii"ardship of the planL church and centre buildings and their content& and rhe ¢hur¢hi"ard. Its Tnembers serve at the pleasure of the PCC. Fabric Committee This is an infornial committee iihich attends io matters relating io the steiiardship of the plan( church 2nd centre buildings and their contents, and the chur¢h%'ard. Its members serve at the pleasure of the PCC. Objectives and Activities St John s PCC has the reswnsibilits. of ci)-operaiing iiiih the In¢umknt in promoting in the ecclesiastical parish the ii.hole mission of the Church. pastoral. evan¥ielisric. S{￿1a]. and ecumenical. The PCC also has mainlenance responsibilities for the St John the Baptist Church. Hi¥h St￿¢1. Glastonburl". and associated propertN". The Church Lane Hub. 3 Church Lane. Glastonbur%' and the gyarag?¢ off Ar¢hers Wa!". Public Benefit The trustees have paid due regard to the ChariTh' Commission s guidance on public benefit in deciding ii.hat activities tlie cliariN' sholild undertake. The irnstees consider ihai the!" have acted ITr the public benefit. Achievements and Perfomiance Church Attendance and the Electoral Roll 2024 There are 128 members on the Electordl Roll. Review of 2024 The PCC met 6 times during the l'ear. Si John s PCC ¢oniinue to meet separatel!. ith the meetings being held in The Churcli Lane Hiib or St John s Church. The meetin&s all beLFan li ith an act of i%orship. Sundai" and mid-ii.eek Church services continued. The Sundai. services iiere all live-sireamed. Si John s hosted a ide N'ariets" of music And chornl events dLiring the l'ear oroanizéd b!. our Events O￿nIZer- Matth¢ii Redtnan and these continue to be hugelN' popular and iiell-siipported. Our communits. proje¢i- knoi¥n as-well-being. Mondai s continued to provide much needed siipport to those artending and a &'ari¢Th" of group activilies held during the dai" remained wpular. Various tund-raisin(F eveiits ii'ere held durinl? the l'ear and these i*eneraied much n¢¢d¢d incotne. We made substantial pa!'iiientS toiiards our Parish Shar¢ bul our income lias noi sutTicieni io meet our lotal Parish Share liabilits" to the Diocese. We reinain gralefiil to the Diocesan Board of Finan¢¢ for their undcrstanding. During the l'ear ile said goodble to of our cler&Tr' team and one of our R¢aders. PrelKndan" David MacGeoch moved from Glastonburl" to take up a neil w)sition in Leighton Buzzard. David had been a toii"ering presence at St John s and the ii.ider Benefice for 16 l'ears and has left ¥2p in the lives of all. A Benefice collection i&as arranged and qifts presented to David and his ilife Kathi. at a tareivell pam. held in St John s Church in Au¥ust. We also said Lryoodbi'e to Rei'erend Robin Rai. i&ho mO￿¢d aii"a!' from the are8 to be nearer his famil)". Robin had been a ben1￿ presence at St John s for mani. l'ears and provided enornious SUPiK)rt to the clerg). team. FinallN". ii"e said go(xlbN'e to mar￿￿ret WN'nn ilho also moved ai¥ai" from ihe area to live nearer to Page 3 her farnily. Margaret has been a much-loved part of the St John's famÈly and wider Benefice for many years. All three will be missed and all were thanked for their years of loyal ser¥i¢e and dedication to St John's and the Benefice. Finally. enormous ihanks go to all of our volunteer helpers and members of our congr¢gation who continue to give so generously both of their time and financially in order to keep St John's open and a vital part of the community it serves. Looking FonYArd ill 2025 With the Benefice in Vacancy, we will look forward to welcomin8 our new Vicar towards the end of the year. The priority in 2025 again remains the need to stabilize St John's financ¢s. Whilst a Stewardship campaign was again tK)stpon¢d in 2024 the Dio¢¢san Board of Finan¢e continues to offer support and guidance and it is hoped a Parish Giving campaign will go ahead durtn8 the y¢ar. Our Gift Aid claims on the donations and gifts r￿e1ved remain & vital sour¢e of income and will continue to do so in the years ahead. We remain grdteful to all those who continue to give 50 generously to support St John'5. Financial Review There was an increase in the overall fvnds held which was unex￿ted tn view of inflationary pressures leading to an increase in rutming costs. The value of th¢ Fixed Assets held with the CBF have increased and dividends received from th¢s¢ investments Continued to be a valuabl¢ souwe of income. As stated in previous years, apart from The Church Lane Hub, the fixed assets are beyond use by th¢ PCC. On th¢ advice of the Diocesan Board of Finance the Trustees designate the CBF & COIF Investtnents as Endowed Funds. The Benefice Fund shows an excess of income over expenditure £2.456.00 at the year•end. The financial tK)Sition in 2024 was much improved and it is hoped this momentum will ¢ontinu¢ in what wntinu¢s to be a challenging flnancial climate. Reserves Policy It is PCC policy to maintain all accounts ai CAF Bank Ltd and the CBF Church of England Dew>sit Fund. It has been tradition th¢ interest is d¢signat¢d for the Fabric Fund but the Trustees voted in 2023 to designate the interest for th¢ General Fund moving fotward. This poli¢y will be reviewed from time to tijne as appropriate. The PCC ensures there is sufficient reserves available to m¢et six months runnin8 and staffing costs. The total funds held at the end of the year were £477.034 of which £125,000 w¢re held as tangible r￿ed ￿ets and £223,065 were held as inv¢stm¢nts. Total unrestricted funds (excluding fixed assets and designated funds) at 31 December 2024 were £23.663 Free reserves ¢ontinu¢ to be below th¢ rquired level. However. the Trustees are confident that reseryes will increase in th¢ ¢omin8 year. Approved by the PCC on ￿ April 2025 and signed on their behalf by: David Smith Church Warden & Lay Chairman Derek Dorey Church Warden Arthur Way Treasurer Page 4 Statement of Financial Activities (including Income and Expenditure Account) for the year ending 318t December 2024 UDf¢strict¢d funds Restrirted EndowmeDt fuDd5 funds Total funds Prior year total funds Income and endowments from: Donations and leg8GIgS Income from charttable acbvihes Other trading 8CtNrttes Investments Totsl income (note 21 57,8 57,899 20,305 63,369 50.621 17.684 45.929 9,052 123.289 33,826 10,489 122,S22 29.S42 29,702 152,224 Expenditure on.. C03ts of generatirrfJ funds Expendrture on Charitable 8dNrt*$ Other expenditure Totsl +X￿1￿1tUr# (not• 31 9.025 138.984 10,6 166,978 2C 177,809 109,916 29.C67 118.941 29.067 148,009 Gains I losses on imiestment assets Net income I lexpenditurel resources before transfer 18,479 136,0401 3.581 9.161 Transfer Gros5 transfers be￿een knnds- in Gr055 transfers be￿een funds- out Other wogni¥ed goin$ I10¥8es Gain8 on revaluation. fixe(1888els. L*8riWs use Not movement in fund$ Total funds brOughtfor￿ld 218 118 503.911 Total funds c4th•d lop*ard 248.621 223.065 477.034 467,872 Represented by Unrestricted General fijnd 148,662 148,￿2 155,485 Deglgnated Clergy Discretion FabrK fvnd (4CK)) 1(MJ.359 {4001 1￿,359 1400} 89.955 Restricted Bell-Ringers fvnd Benefice fund Capital Campaign Music SGholarship Sl Johns Centre 6,427 2.456 6.427 2.456 1,054 ieth) {2,92n (6081 12.927) 14581 12,9271 Endowment Charity Invesfments 223.C65 223.¢ 218,118 All income and expenditure derive from continuing activiti'es The statement of financial activiti'es includes all gains and losses recognized during the year Page 5 Balance sheet Class and code D&scri tiOD This e8r Fixed assets 5000010 note 6 5000020 note 7 5000030 note 7 St John'8 Centre CBF COE Investment 101(K)1545S COIF Charity Investrnent 11093COJ1T Totsl Fix•d assèts 125,C( 68,7 154.275 348,CKS 125,000 67,250 343.118 Currènt ass•ts C1501 C1505 cl￿ C1507 C1508 D1510 S1500 note 8 Z05 noté g CAF Bank Current C(KJ20131 CAF Bank BenefKe A￿1 C(￿)86 CAF Bank Bdl Fund Aco)unt (K)O*A187 CAF Bank CcNenant knt C(XJW88 CAF Bank Fabrr AC￿ (XM)96089 CBF Churth of ErvJlaThJ t)wrt Sl<)d(- ShL¥) Dèbtors Totsl Current assets 786 1.192 7.125 2,358 57,097 54,003 100 243 6,125 2,393 62,931 4,{￿3 132,447 126.720 Liabllltles 8699 Z04 note 10 Agency colkntions Credrtors Total Liabilities 1,663 1,966 Not Asset surplusldoficltl 477 034 Reserves note 11 Represented by funds Unrestricted DeswJnat&J ReStr￿ted Endowment Total 148,ffi3 99,958 5,348 155.485 89.554 4,713 218,118 The financial statements were approved by the PCC and authorized for issue on W April 2025 and signed on their behalf by: David Smith Church Warden & Lay Chaimian Derek Dorey Church Warden Arthur Way Treasurer Page 6 Notes to the Financial Statements for th¢ year ¢Rded 31" December 2024 l. Accounting Policies Basis of prep2r4tioD The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost oi tratLsaction value unless otherwise stated in the relevant notes to these accounts. The Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as through Update bulletin I published on 2 Febnjary 2016) and the Financial RewIting Standard applicable in the United Kingdom and Republic of IrelaLwJ (FRS 102) and the chariti￿ Act 2011. The financial statements have been prepared to give a 'true and fair. view and bave depart￿ from the ChaTities (Accounts and Rqx)rts) Regujations 2￿)8 only to the extent re4wIr￿ to provi(k a 'true and tsir view,. This departure has involved following the Accoun1ing and R¢￿till8 by Charities: Statement of Recommended Practice applicable lo clwlties prepry their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS 102) 1&s￿d on 16 July 2014 rather than the Accounting and Re￿)rtIng by CForiti¢s: Ststement of Recommended P￿tICe effective from l April 2005 which since been withdrdw The tn￿t consliths a public benefit entity as defll￿d ty FRS 102. Th¢ fjnancial Statem￿ are prepared in s*rling wbich is the fimctiODal ¢urren¢y of tb¢ clwity and rounded to the nearest w)und. There are no significant arms of judgeinents or key sourc¢s of estimation utKerthty. Material uncertainty related to going eoneern The totsl funds held at the end of the year were £477,034 of which £125,CW were held &8 taDgible fix assets and £223,065 were held as investments in an endowment futML Total unre5tricteA fijnds i.e. free reserves (excluding fixed assets and designated fimds) at 31 De¢emi*r 2024 were £23,663. The free r¢s¢rves held have been severely depleted over the past four years. The charity holds designated fimds for the fabric of the building of £100.359 which can ￿ transfetred to the general fimd if required. The 1Th￿tee8 have prepared a budget for the forthcoming year and are focused on generating sufficient income to replace the reserv￿ sp¢nt and the incr¢&sing income deriv¢d fron) events and the inc4)nK from biring the recently refurbxshed C¢ntre will aid St Jolm's recovery over the coming yeats. status of the eharity Th¢ PCC is a corporate kndy which is constituted and governed io accordance with the Parocbiai Church Councils (Powers) Measur¢ 1956 and the Church Repre￿￿On Rules. Th¢ PCC is a rcgist¢r¢d charity under the Charities Act 2011 Funds Unrestricted funds can IK used in accordance with the charxtsble objective5 at the discretion of the trust¢¢s. Designated funds are funds set aside by the trustees out of untestri¢ted general funds for specific fvtur¢ PUTEX)ses or projects. Page 7 Revaliiation reserve consists of surpluses arising on Ihe revaluation of properties. This tund may only be used on the sale of ihe properties. by release to unreslricted t"unds. Further e.¥planalion of ihe naiure and purpose of each fund is included in the notes to the financial statements. The accounts include all transaciions: assets and liabilities for w.hich the PCC is responsible in law. They do not include the accounts of charitable gyroups ihat owe th¢ir affiliation to anoiher body nor those thal are inforn]al gatherings of Church members. Income reeognition All income is recoonized once the charity has entitlement to the income: Ihere is sutyicient certainty or receipt and so it is probable that the income will be received. and the amount of income receivable can be measured reliably. Fundraisingy is funds raised by festivals and shop Income and similar events and are accounted for gross. Dividends and investTnenls are accounted for when receivable except for Bank interest ￿"hen unpaid interest is accrued. recoverable on such income is recoLFnized in the same accountino year. Gains and losses on investments Realized gains or losses are recogFnized when investments are sold. Unrealized byains or losses are accounied for on revaluation of inveslments at 31 st December. E¥penditure recognition Liabilities are recoLynized as expendilure as soon as there is a legal or constructive obligatton committing the charity to that expenditure. li is probable ihai settlement ￿"111 be required and the amount of the obli2ation can be measured reliably. All e.xpenditure is accounted for on an accruals basis. All el￿nseS. including support costs and Lyov¢mance costs. are allocated or apportioned to the applicable expenditure headingis in the statement of financial activities. Irrecoverable VA T is chargyed against Ihe e.xpenditure headinLY for w'hich it "as inciirred. For the Parish Share any unpaid amounts from previous years are not considered to be a liabilily. Tangible fi.Ked assets St John s Cenire is held al open market value at the balance sheet date. All movements arisino from revaluation are shown in Ihe SOFA. Consecrated and benefice property is noi included in the accounts in accordance wilh s.96(2){a} of the Charities Act ?0 I Movable chiirch furnishinL7s held by the Incumbenl and church￿3rdenS on special trust for the PCC and which require a faciilry for disposal are Tnalienable property. listed in ihe church-s inventory. which can be inspected (at any reasonable lime). For any"thingF acquired prior to ?000 ihere is insufficient cost infonnation available and therefore such asseis are noi valued in the financial statements. Subsequently no individual item has cost more than £ 1.000 so all such expenditure has been ￿rItten off w'hen incurred. Individual items ot equipTnenl used w"iihin the church premises with a purchase price of £500 or less are ritten ot7 when the asset is acquired. Sto¢k Siock represents the value of the commercial and sacristy inventory. Stock. is held at the lower of cost and net realizable value. Puge Investments Inveslments are valued at mark-et value at 31 sl DeCern￿r. Debtors Anioiinis owingF to Ihe PCC at 31 st December in respect of fees: rents or other income are show'n as debtors less provisions for amounls thai may proN'e uncollectable. Cash at bank and in hand Cash at bank and cash in hand includes cash and short terni highly liquid investments with a short maturity of three months or less from the date ot"acquisition or openinLF of the deposit or siinilar account. Creditors and provisions Creditors are rrtosJnized where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a ihird party and the amount due to settle ihe obligation can be measlired or estimated reliably. Creditors are nOM￿llY ￿COgniZed at their settlement amount after allowing for any trade discounts due. Pensions Employees of the charity are entiiled lo join a defined contribution 'money purehase scheTne managJed by NEST. The Church's contribution is reslricled to the contribuiions disclosed in note 5. There were no outslandingF conlributions at the year end. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognized at trnnsaelion value and subsequently measured at their settlement value with the e.xception of bank loans whlch are subsequenily measured at amortised cost using the effective interest method. Piige 9 2. Analysis of Income Unrestrieted nated Restricted EndowmeNI This vtar LAgt vear INCOME AND ENDOWMENTS Donatlons and legacles 0101- Covenanl- Bank 0110- Covenant- Orange Envelopes 0301SD- Loose Plate Cotlections- Sfflall Donabon Q302- FunlWèdBap Collethon$ 0501- Grft Aid- One-off Gifts 0550- Donabons, Appeals, etc. 0555- Contactkss Donations 0580- Verger Funding 0601 - Tax Recoverable on Grfi 30.744 1.186 3.728 30.744 1,186 3,728 29.436 1,203 521 553 3,825 4,478 2,476 2,000 6,325 6,131 6,131 6,068 2,523 2.000 4,969 2.523 Totsl 57.899 57.899 50.621 Income from charltable actlvltles 0203- Charity Specffic- In 0910- Festnials Incorne 0911 - Fund-Raising In￿rne 0915- Evènts In¢x>mo 418 2.474 137 17.274 20,30S 418 2.474 137 17,274 20,305 285 1,545 15,854 17,884 Total Other trading activities 1030- Church- Rent 1040- Centrè- Rent 1101 Fees- Funerals and Weddings 1230- Church- Lettings 1231- Commeiual- Fo(Kl 1240 - Centre- Lettings 1350- Benefice- In(x)me 1352- BenefI￿- BMA 1360- Benefice- Pioneer Minister Refund 1362. Beneffice-Adrnin Cont-st Margarefs Chapel 1365- Beneffice- Church House Trust Refund 0901 - Other Funds Generated 0903- Music Income 0905- Social Income 0906- Hospitalty Donations 0907- Sacristy Reimbursement 0912 - Flowers1ncome 7001 BellRinge15 Income 7,000 300 4,931 21[) 11,590 11,59) 460 11,0 26,544 11,0921 1,810 25,114 11,0921 921 26.544 11.0921 3.276 3,276 2.328 312 312 605 277 917 895 2,057 165 502 92 430 2TI 917 1.395 1,395 314 63,369 314 29,542 Total 33,829 45,929 Investment$ 1001 DivKJends 1020- 8ank Interest 8.877 1.526 10,404 8,8TI 1,771 10,649 8,045 1,007 9,052 85 Totsl 160 INCOME TOTAL 112,118 10.404 29,71Y2 152,224 123,289 Pr the y&ar ended 31 December 2024 sel out on pages S to 15. Respèctlve résponslbllltles of trustees and examlner As the charity's truslees you a,"e rèspans,,b￿ for the preparabon ofthe accounts in acrordance wth the requirements of e Grarilies Act 20111'lhe Acri. 11 Is my responsibllity to.. e￿mIne th¢% accounts ￿￿ler sedton 145 ofthe CharTttes A to follow the pmcedures Liid dNyn in the general DwactK)ns gryen ty th? Ctriarity Commiss¥)n (l￿der Section 1451511bl of the CharHies Act, and to slate whether parti(￿￿8r mstt8rs have comè to my attenim. Basls of Indepèndent examinerfs statement My examination was ¢arried out in a¢co,'d8r¢ce wilh general Directh)ns gi￿en by the Charity Commission. An examination includes a review of the accounting records kepl by tiie charity and a comparison ol the accounts presented w'ith those rwords. 11 aL80 includes CL)n51derats"on of any unusual items or disdooures in the accounts and king explanations from -.ie trusleos con￿mIng any such m8tters. The procedures undert&ken do not provide all the evidep,ce that Would be required in an avdi( and consequen1ty nD opirDn is given as to whether the accounts pre*nl a 'Irue and fair, view and the report is limited to those m8X&rs sel OJI in the sttslemenl below. Independent examlner's statement- rnatter of concern identFfièd I have completed examination. I have ident."f*o a matr.af cf natenal ¢Meem in nTy report because I have concèrns aboii the Charity's abillty lo conlnue as 3 goiig converi. I dra￿, attenL'on to no:.è 1 ir the finannél stalemen:s nolas hat Ihe free reserves b.eld il the Charity hawe beén severdy depbted Dbe.. the past foL'r iLars and are now at a ¢Ytical vel. As described orn riole I the Trustee< are focJsed cn gen?rylng suffictenl iicome lo replenlsh reserves, howevfrr thero still remained a matte": of material signtfitsnLts rr5garding going concerrtr. al the dalA Oi signing rny examiner's report. In ￿nneGlion with my examination, Tho material matters have come to atte.11￿ v4hi(* gNe8 me ￿uSe lo believe that n, any material respect. the accoijnvng records were iot kept in &xordanc% iyrth secaion 130 of th& Ch8dties Act", ne accounts did not accord ￿,￿ the accounting recorcs- or the accoLsntr> did nol tie appluble requireTi ents conceming th& fomi and ¢onlenl ol accounts Sel out In the Charities (A￿¢￿jnlS and Reports) Regulak..ons 20C.8 oth>r than any wuiremeil that the accounts give a Irug 2nd fai., view which is nat a TTratrer cons dered as part of an Snoependenl examination. I hav• come across no oLheT matters in connection W[￿ the exarThp.ats"or, to atte1tion should drawn In this report in oroer to en?ble a proper unders'Anding of the acctsJr,ts to be reacled. F ona WesNvood FCA Monahans 3 Landmafk House V.Ir81 Park Road Glastonbury Samersel BA6 9FR Dale" Page 16