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2024-12-31-accounts

REGISTERED CHARITY NUMBER: 1130891

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Trustees Annual Report and Unaudited Financial Statements

31st December 2024

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Annual Report and Financial Statements

Year ended 31st December 2024

Page
Trustees' annual report 3
Independent examiner's report to the trustees 6
Statement of financial activities 7
Statement of financial position 8
Notes to the financial statements 9

2

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Trustees Annual Report

Year ended 31st December 2024

ADMINISTRATIVE INFORMATION

St Peter & St Paul Church, Shepton Mallet is situated in Somerset and is part of the Diocese of Bath and Wells within the Church of England. The correspondence address is Peter Street Rooms, Peter Street, Shepton Mallet, Somerset, BA4 5BL.

The Parochial Church Council (PCC) is a Registered Charity (Number 1130891).

PCC members (trustees) who served during the period were as follows:

Rector Rev. Jonathan Hunter Dunn Churchwardens Nick Bennett, Vaughan Ives Lay Chairperson David Crisfield Treasurer Andy Paull Secretary Robert Goodhand Deanery Synod Suzi Mackenzie and Chris Lord Elected Members Ros Baldwin, Stephen Jarrett, Cliff Brown, Steve Bruce-Jones, Moira Knight, John Knight

Independent Examiner Peter Mullee

Structure, governance and management

The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.

Objectives and activities

Shepton Mallet PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the St Peter & St Paul's Church and associated property.

Church Attendance

There were 104 parishioners on the Church Electoral Role (May 2024). Declared Church membership as of January 2025 was 114. Average, in-church,Sunday attendance was 74 adults and there was an average of 12 connections listening on-line during the same period.

We conducted 6 Baptisms, 15 Funeral Services and 3 Wedding ceremonies.

RECTOR'S REVIEW OF THE YEAR

In a nutshell, the healthy church is Learning from God’s Word, Living together as a kind, caring family, Loving each other as well as the community in which they live. Little wonder they experience growth! I summed up last year’s report saying, ‘More than anything, the most encouraging aspect of 2023 has been the way the morning service feels more settled, relaxed and joyful. It is attracting new members and experiencing growth.’

Looking back over 2024, it’s fantastic to see how we have continued on this trajectory. Isn’t God good? Learning from God’s Word. We spent the Winter term in Chapters 9 to 12 of Luke, following Jesus and listening to His teaching as He journeyed to Jerusalem. As ever, learning from Jesus is to choose ‘…what is better, and it will not be taken away…’ Luke 10 verse 41. After spending Easter in the Gospel of Matthew, we returned to 1 Corinthians covering Chapters 12 to 16. We were greatly blessed by Paul’s instructing to the CHURCH in chapters 12 to 14 before turning be greatly encouraged by the RESURRECTION to come from Chapters 15 and 16.

3

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Trustees Annual Report (continued)

Year ended 31st December 2024

RECTOR'S REVIEW OF THE YEAR (continued)

Our Summer Sermon Series, Following paths of righteousness, looked at various Psalms helping us persevere with the Lord on life’s journey. As ever, we benefitted from various ‘guest’ preachers – my thanks to all. Come September, we followed the London Institute for Contemporary Christianity (LICC) five-part Frontline Sundays program equipping, empowering and encouraging us to share our faith graciously and simply wherever we find ourselves week by week on our ‘frontline’. This was a timely follow up to the Fruitfulness on the Frontline course our Bible Fellowships covered earlier in the year. We then looked at the life of King David from 1 and 2 Samuel. David is a key figure in the Old Testament; a man after God’s own heart (Acts 13 verses 22). We saw what it looks like to trust God’s timing, to be courageous for Him, the dangers of sin and the way of genuine confession and deep repentance.

In our Advent series Jesus is our JOY we spent time reflecting on Jesus as our Saviour, Brother, Pastor and Teacher.

Living together as the ‘Big Family of God’. Early in 2024, Rachel Lord, our Children, Youth and Families worker left as her husband Chris was apointed Assistant Minister – Music and Media at Christ Church, Banstead. Thanks to a team of amazing volunteers, we have managed to maintain the key ministry initiatives Rachel set up during her time with us. Investing in our young people remains one of our ministry priorities but the reality is there are more Churches seeking children and youth workers than there are such workers. We persevere prayerfully to discern the Lord’s will for us.

Despite deciding to pause our Benefice Weekend Away in 2024, there has been growth in the amount of time spent together. It isn’t possible to quantify because much of it is informal, but I am constantly delighted when I hear of the fellowship, hospitality, walks, coffees, barbecues, visits to the pub, meeting to pray etc. My impression is we are doing more of life together with Jesus at the centre of it all. The Evening Communion Service on the third Sunday afternoon of the month continues to minister to those who find spiritual blessing in the more structured forms of service from Common Worship and The Book of Common Prayer. Personally, I remain convinced this could grow into something beautiful if we can strengthen the choral content and fellowship over refreshments: strawberries and Pimm’s in summer, teacakes in winter!

Loving each other as well as the community in which we live. Our links with Saint Paul’s Junior School continue to bring joy and blessing, not least through their in-church services throughout the year. Open The Book dramatic assemblies have expanded into the Shepton Mallet Community Infants’ School and, most recently, into Bowlish Primary School. My thanks to the team who valiantly act out Bible Stories ably supported by various children. They are not only great fun but a very powerful missional ministry which will bear fruit over many years. Our Easter, Harvest, Remembrance and Christmas Services are very well received by the community. In fact, national attendance over Christmas was markedly up, so much so that it appears to signal a change in attitude to Church and Christianity. In general I think that, as life becomes less settled, people are in search of something more stable and hopeful. For younger people, men in particular, Christ offers an appealing presentation of manhood in a world where there are few positive examples of healthy masculinity. Members of the Church family serve in many aspects of community life. Quiet, humble, faithful service of others is precious in the eyes of our Lord. Matthew 25 verses 31 to 46.

And the Lord added to their number daily those who were being saved. Having felt prompted to offer evangelistic events each term, we ran The Bible Course in Autumn 2023 followed by Alpha in the winter term 2024. The Start Course proved popular and we have plans to offer Christianity Explored and Discipleship Explored. The idea is to put together a rolling program to meet needs as they arise along the way. Before I close, I should acknowledge that, throughout 2024, both the PCC and I wrestled with the changes being introduced by General Synod. Already there is significant concern throughout the Church of England over the introduction of Prayers of Love and Faith (PLF). These are already indicative of a change to the established doctrine of the Church and further changes are anticipated. Needless to say, it has been a very difficult season which has taken its toll, not least on me. I think it important to remember that all that is good about the Church of England is so because for 500 years men and woman have taken a stand humbly but firmly for Jesus. His teaching is clear. He is our Saviour, our great High Priest, our Lord and King. Now to Him who is able to do immeasurably more than all we ask or imagine, according to His power that is at work within us, to Him be glory in the church and in Christ Jesus throughout all generations, for ever and ever! Amen. Ephesians 3 verses 20 and 21. Jonathan

4

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Trustees Annual Report (continued)

Year ended 31st December 2024

FINANCE REPORT

Income

Our total income for the year was £160,241 representing a decrease of 32% on 2023. Our General income increased by 5% or £6,300. Restricted funds benefitted from a total of £15,690, which was to fund our Discipleship lead role. Planned Giving, Cash Collections and Ad Hoc Donations to the General fund were were 4% higher. Our income from Weddings & Funerals more than doubled, whilst there was a 59% decrease in income from Fundraising and 78% decrease in trading income due to the Parish Weekend not happening in 2024.

Expenditure

Our total expenditure of £174,700 represents a decrease of 2% on last year. In the General fund increases to utility bills and admin and building maintenance expenses were offset by savings from not running the Parish Weekend and in running with a vacancy in Children’s and Youthwork for most of the year.

The figures for expenditure above do not include £14,393 for our Discipleship lead role which has been fully funded for the intial 3 year period.

Fund values

In addition to the income and expenditure movements outlined above the value of the PCC’s investments grew by £451 over the year.

Overall the value of the General fund increased by £3,420 to £59,631. The PCC’s total funds decreased by £516 to £200,463 due to expenditure in excess of income by £6,367 in the Designated fund and Restricted fund income greater than expense by £2,432. In total £172,679 is available as cash and investments. £55,753 of that being unrestricted.

Reserves

The PCC is required to formulate and disclose its policy on “reserves”, i.e. the level of funds which are freely available at any time. The PCC has adopted a policy to maintain reserves of £41,500 which is based upon 3 months of average projected general expenditure to cover variability in the timing of outgoings and a £5,000 lump sum to cover unforeseen short term building maintenance needs. The PCC defines reserves as the total value of its unrestricted funds less Tangible fixed assets.

Comments

Whilst overall funds showed a small decrease during 2024, the growth in the General fund was very encouraging and it was especially pleasing to see a growth in giving. However, costs continue to rise and the PCC wants to continue to fund current activities and to do more wherever possible.

The movement of PCC savings assets into an alternative account has delivered almost double the interest returns seen in 2023. We will continue to seek to grow our income both through activities, donations and through fundraising events.

5

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Independent Examiner's Report to the Trustees

Year ended 31st December 2024

I report to the trustees on my examination of the financial statements of Parochial Church Council of St. Peter & St. Paul, Shepton Mallet ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

PETER MULLEE (ACCA) Date 2nd March 2025 Independent Examiner Talbot Barn, Patterdown Farm, Patterdown, Chippenham, SN15 2NP

6

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Statement of Financial Activities

Year ended 31st December 2024

Income
Donations & Legacies
Charitable Activities
Trading Activities
Investment Income/Interest
Other Income
Total Income
Expenditure
Expenditure on fundraising
Expenditure on Charitable Activities
Other Expenditure
Total Expenditure
Net Income/(Expenditure)
Transfers between funds
Investment in Fixed assets
Gains/Losses on investments
Net Movement in Funds
Total Funds brought forward
Total Funds Carried forward
2023
General
Designated
Restricted
Total
Total
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
124,786
0
4,025
128,810
198,457
10,782
0
11,935
22,718
23,329
1,394
0
0
1,394
6,370
5,977
0
0
5,977
3,101
1,342
0
0
1,342
3,187
2024
Unrestricted
144,281
0
15,960
160,241
234,442
0
0
0
0
39
131,522
18,867
14,519
164,909
165,160
9,791
0
0
9,791
13,522
141,313
18,867
14,519
174,700
178,721
2,968
-18,867
1,441
-14,458
55,722
0
-12,549
12,549
0
0
0
13,491
0
13,491
0
451
0
0
451
-417
3,420
-17,925
13,990
-516
55,305
56,211
42,227
102,541
200,979
145,674
59,631
24,302
116,530
200,463
200,979

The statement of financial activities includes all gains and losses recognised in the year

All income and expenditure derives from continuing activities.

7

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Statement of Financial Position

Year ended 31st December 2024

2024 2023
£ £
Fixed Assets
Tangible Fixed Assets 27,784 22,142
Intangible Fixed Assets 18,141 17,689
Total Fixed Assets 45,925 39,831
Current Assets
Cash at bank and in hand 154,538 161,148
Total Current Assets 154,538 161,148
Liabilities
Agency Collections 0 0
Total Liabilities 0 0
Net Assets 200,463 200,979
Represented by Funds
Unrestricted - General 59,631 56,211
Unrestricted - Designated 24,302 42,227
Restricted 116,530 102,541
Total Funds 200,463 200,979

The notes on pages 9 to 13 form part of these financial statements

The Trustees Annual Report and Financial Statements were approved by the PCC and authorised for presentation to the APCM.

Rev. Jonathan Hunter Dunn PCC Chairman 7 Date 2nd March 2025

8

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Notes to Financial Statements

Year ended 31st December 2024

1. General information
The PCC is an unincorporated charity registered in England and Wales (no. 1130891). The registered office address is Peter Street Rooms, Peter
Street, Shepton Mallet, Somerset, BA4 5BL.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic
of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) and the Charities Act 2011.
3. Accounting Policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities
measured at fair value.
The financial statements have been prepared in pounds sterling, the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds which have been earmarked by the trustees for a particular future project or commitment.
Restricted funds are subject to restrictions on their expenditure declared by the donor or through the terms of an appeal.
Incoming resources
All incoming resources are included in the statement of financial activities when the income has been received .
Resources expended
Expenditure is recognised when a payment is made. Expenditure includes any VAT and is classified under headings of the statemment of financial
activites to which it relates i.e.
** expenditure on raising funds includes all the costs of fundraising activities, events, and non-charitable trading activities;
** expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the
benefit of its beneficiaries, including support costs and costs relating to the governance of the charity;
** other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable
activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Costs attributable to a single activity are allocated directly to
that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible fixed assets and depreciation
All tangible fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost of an asset, less any residual value, over
its useful economic life as follows:
Office equipment
straight line over 4 years
Audiovisual equipment
straight line over 5 years
Digital Organ
straight line over 20 years
The annual depreciation charge is recognised in expenditure
Investments

Investments are measured at fair value with changes in fair value being recognised after net income/expenditure.

9

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Notes to Financial Statements (continued)

Year ended 31st December 2024

Year ended 31st December 2024
4.
Donations & Legacies
Planned giving
Cash collections
Ad hoc donations
Income tax recovered
Grants
Legacies
Total donations and legacies
5.
Charitable activities
Donations to toddlers/children/youth
Wedding and funeral fees retained
Other income from charitable activities
Discipleship funding
Total charitable activity income
6.
Trading Activities
Bookstall
Peter Street lettings
Church lettings
Refreshments
Concerts and functions
Parish weekend
Total trading activity income
7.
Investment Income
Dividends and Interest
8.
Other Income
Fundraising income
Miscellaneous Income
Total other income
2023
General
Designated
Restricted
Total
Total
£
£
£
£
£
79,613
-
-
79,613
82,815
7,673
-
-
7,673
9,708
15,359
-
930
16,289
80,250
22,141
-
3,095
25,235
25,683
-
-
-
-
-
-
-
-
-
-
Unrestriced
2024
124,786
-
4,025
128,810
198,457
407
0
0
407
445
9,951
0
0
9,951
4,152
397
0
0
397
160
28
0
11,935
11,963
18,573
10,782
0
11,935
22,718
23,329
1,082
0
0
1,082
1,132
0
0
0
0
540
200
0
0
200
400
112
0
0
112
328
0
0
0
0
0
0
0
0
0
3,970
1,394
0
0
1,394
6,370
5,977
0
0
5,977
3,101
1,229
0
0
1,229
2,896
113
0
0
113
291
1,342
0
1,342
3,187

10

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Notes to Financial Statements (continued)

Year ended 31st December 2024

2024 2023
Unrestriced
General Designated Restricted Total Total
£ £ £ £ £
9. Expenditure on Charitable Activities
Parish Share 65,617 0 0 65,617 66,554
Childrens & Youthwork 2,176 0 0 2,176 15,681
Finance & Administration 17,657 0 0 17,657 13,786
Charitable Giving 12,365 0 0 12,365 14,714
Church Utilities & Insurance 14,672 0 0 14,672 13,773
Church Buildings & Maintenance 1,805 6,608 0 8,414 14,538
Weddings & Funerals 21 0 0 21 375
Music & Services 2,124 0 126 2,251 1,861
Clergy Expenses 2,104 0 0 2,104 2,207
Discipleship ministry 1,144 0 14,393 15,536 14,811
Training & Recruitment 15 0 0 15 0
Books to promote objectives 592 0 0 592 216
Mission 26 0 0 26 12
Equipment 3,357 12,259 0 15,616 1,483
Depreciation 7,849 0 0 7,849 5,150
Total Exp. on Charitable Activities 131,522 18,867 14,519 164,909 165,160
10. Other Expenditure
PSR Buildings & Maintenance 2,481 0 0 2,481 1,433
PSR Utilities & Insurance 5,623 0 0 5,623 5,265
Parish Away Day 0 0 0 0 4,548
Bookstall 848 0 0 848 1,044
Refreshment costs 772 0 0 772 920
Concerts & Functions 40 0 0 40 208
Miscellaneous costs 27 0 0 27 104
Total Other Expenditure 9,791 - 9,791 13,522
2024 2023
£ £
11. Net gains on investments
M&G Charifund and Charibond 451 -417
12. Depreciation 2024 2023
Net income is stated after charging depreciation of tangible £ £
fixed assets as follows:
0 0
Digital Organ 999.50 1,000
Audio & Visual Installation 2024 2,698.20 0
Audio & Visual Installation 2020 4,151.00 4,150
7,849 5,150
13. Staff costs
The total staff costs (including employee benefits) for the
year 12,640 24,781

The PCC employed a Parish Administrator throughout the year and a Families Youth and Children's Worker until January 2024 so the number of employees at the year end was 1 (2023 : 2).

14. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were paid to Trustees or persons directly associated with them except for:

11

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Notes to Financial Statements Continued)

Year ended 31st December 2024

Year ended 31st December 2024
15.
Tangible fixed assets
Acquisition cost
Brought forward at 1 January 2024
Additions
Disposals
Carried forward at 31 December 2024
Depreciation
Brought forward at 1 January 2024
Charge for the year
Carried forward at 31 December 2024
Carrying Amount
Brought forward at 1 January 2024
Carried forward at 31 December 2024
16.
Investments
M&G Charifund and Charibond
Valuation at 1 January 2024
Revaluation
Carried forward at 31 December 2024
17.
Analysis by fund
Unrestricted Funds
General
Designated Funds
Margaret Dyke
Church clock
Screen and family area
Total Unrestricted Funds
Restricted Funds
Screen and family area
Discipleship
Re-Ordering
Music
Total Restricted Funds
Total funds of the charity
£
45,541
13,491
0
59,032
23,400
7,849
31,248
22,142
27,784
17,689
451
18,141
Value
Income &
Expenditure
Transfers
Value
1st Jan
Gains/(Losses)
31st Dec
£
£
£
£
£
56,211
144,733
141,313
0
59,631
24,302
0
0
0
24,302
17,925
0
6,367
-11,558
0
0
0
-991
-991
-0
98,438
144,733
146,689
-12,549
83,933
£
£
£
£
£
11,953
500
991
13,444
5,906
15,022
14,393
0
6,535
84,090
438
0
11,558
96,085
592
0
126
0
466
102,541
15,960
14,519
12,549
116,530
200,979
160,693
161,209
0
200,463

Margaret Dyke : Set up with a legacy from Margaret Dyke, to support Youth and music ministry, as decided by the incumbent and wardens in consultation with the PCC.

Church clock : A designated fund to pay for repairs to the church clock. Donations were received during the year where donors requested that the clock be repaired and any remaining balance be passed across to the re-ordering fund. Screen and family area : A restricted fund to pay for improved AV and family area on the North side of the church. Donations were received during the year to have the new facilities installed by the end of the year.

Discipleship : a new restricted fund established during the year to fund the role of Discipleship lead over a 3 year period

Re-ordering: A restricted fund to provide for the development and implementation costs of our re-ordering project. During 2022 and 2023 major donations were received and a small amount of professional fees have been incurred so far in pursuit of faculty approval.

Music: A restricted fund created during 2022 on receipt of a legacy from the estate of Rae Fulford. The fund is to be spent on items to support the musical life of the church.

12

Parochial Church Council of St. Peter & St. Paul, Shepton Mallet

Notes to Financial Statements (continued)

Year ended 31st December 2024

Year ended 31st December 2024
18.
Charitable Giving from General Fund
Tearfund
St Peter's Lifeline
Windsor Hill Wood
Salvation Army
Belivers in Recovery
Wycliffe Bible Translators
Leavers Bibles
Various Others
Total charitable giving
Percent of previous years unrestricted
income
2024
2023
£
£
2,000
3,815
2,634
2,000
2,000
2,000
1,500
1,500
2,000
2,000
2,000
2,000
1,269
231
130
12,365
14,714
14,930
12,921
8.3%
11.4%

Main charities supported

Tearfund: As a Christian charity, Tearfund believes that everyone has an amazing God-given potential to create change. They show people around the world how to unlock these gifts and put them to use escaping poverty. Many of their partners in this work are local churches, who discover how to offer their communities material and spiritual hope.

St Peter's Lifeline is a small charity that supports an impoverished parish community in a harsh, remote, area of Kenya. It’s principal activities are: educating orphaned and impoverished children, eliminating the foul scourge of FGM, a sustainable micro finance scheme for women, daily feeding scheme at 7 local primary schools, caring for over 120 disabled children & their families and the provision of a water supply & irrigation.

Windsor Hill Wood is a woodland shelter, a place of radical hospitality, manual labour and prayer. They aim to create a loving environment for people going through tough or uncertain times and offering them the chance to rediscover peace, silence and acceptance amidst the beauty and simplicity of the woods.

Salvation Army: Our gift was to support the local food bank operations in our town.

Belivers in Recovery is a church wide Christian recovery community supporting men and women who have been affected directly or indirectly by any forms of addiction.

Wycliffe Bible Translators is a mission agency with a big vision: A world where everyone can know Jesus through the Bible. 1 in 5 people worldwide still don’t have a Bible in their language. Wycliffe serve local partners worldwide as they bring God’s word to their communities in the language which speaks to them best.

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