## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF THE PRIORY CHURCH OF ST PETER AND ST PAUL LEOMINSTER**
## **Annual Trustee Report and Financial Statements for 2024**
**Registered Charity No. 1131837**
## **Financial Review of 2024**
Income in 2024 from regular giving and services (including gift aid) increased by £6,739 to £79,910. Fundraising events raised the following excellent amounts: Abseil £7,342; Summer Fête £1,949; Christmas Bazaar £1,777; and 100 Club £600. Holiday Club achieved a surplus of £448. Grants were received of £1,000 for the choir, £1,800 for Winter of Wellbeing community youth work and £6,877 for the Nicholson organ repair. A legacy was also gratefully received from the estate of Robert William Davies, and on behalf of future treasurers, thank you to all those who have left the Priory a gift in your will.
Expenditure in 2024 included £80,527 Parish Offer to the Diocese towards the cost of ministry across the Leominster Team, unchanged from the previous year. Spending was increased on the Choir by 23% to £13,149 and on mission work in the community by 40% to £16,470. The Priory’s contribution to running the Team Office in the Forbury increased to £17,500. Utility costs increased by 12% to £19,621, but this includes a gas bill for Q4 2023 which was not received until 2024, and some of this will be offset by refunds due to be received in 2025. Insurances (which include the fabric of the building as well as employer and public liability insurance) cost £6,215, and similarly the comparison cost for insurance in 2023 was not for the full year, due to timing differences.
Heating repairs were undertaken at the leased properties, costing £3,112. Repairs to the Bevington organ cost £8,647 and were paid from fundraising in previous years. Repairs to the Nicholson organ cost £41,571 and were paid from a grant £6,877, fundraising donations of £14,767, a donation of £5,000 from the Friends of the Priory, and £14,927 from the fabric fund.
The value of unrestricted funds in the bank totalled £116,856 as at 31 December 2024, an increase of £14,927 compared with the previous year. Funds restricted to spending on a specific purpose totalled £295,504 at the year end.
The financial accounts for 2024 present a complex picture due to projects ongoing into 2025. The accounts report a surplus of £32,502 for 2024, but this includes a surplus of £17,528 generated by Priory Arts (Threads Through Creation) which is designated for future projects, and a surplus of £61,991 for the Futures Project, which will be spent in 2025. This gives an underlying deficit for 2024 of £23,443 for the operation of the Priory, after excluding Priory Arts, Futures Project and organ repairs. However, £15k of this will be offset by a grant for Priory Arts (Threads Through Creation) which will be received in 2025.
The budget for 2025 is £154,200. Much of this comprises £88,470 in Parish Offer and Leominster Team Office contributions, £26.6k of running costs such as utilities, insurance, maintenance and service expenses, and £21.6k of other mission and ministry expenses, including the choir and other work with young people and the wider community. Some of this is expected to be offset by external grants. This 2025 budget assumes an inflationary increase in regular gifts and collections at services, and all gifts which will help the Priory to maintain our pattern of worship and outreach and our place in the community, and to maintain or increase our Parish Offer in support of our wider mission and ministry in the community, are warmly appreciated.
In the words of Rev’d Dr Sam Wells of St Martin’s-in-the-Fields: “If you don’t give because no one’s ever asked you, I’m asking you now. If you don’t give regularly because you’ve never got round to it, I’m saying today’s the day. If you don’t give much because you think [we don’t] need it, I’m telling you that [we do]. If you don’t give a lot because you don’t have a lot, I’m saying that your giving something is an example to everyone else. If you don’t give more because no one’s ever said thank you, I’m thanking you right now. If you already give until the pips squeak, I’m saying that’s wonderful, and nudge the person next to you to do the same.”
With thanks to all who are part of the Leominster Priory family and the wider Leominster Team Ministry, and all who support through volunteering in so many ways – including as Team Treasurer, Gift Aid Officer, Safeguarding Officer, and Auditor,
Mark Simmons
## **INDEPENDENT EXAMINER’S REPORT**
## **To the Parochial Church Council of the Priory Church of St Peter and St Paul Leominster On the accounts for the year ended 31 December 2024**
## **Respective responsibilities of trustees and the examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
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 the Charity Commission (under section 145(5)(b) 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 the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning 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 to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in, any material respect, the following requirements have not been met:
- to keep accounting records in accordance with section 130 of the Charities Act;
- to prepare accounts which accord with the accounting records and comply with the requirements of the Charities Act;
- to account for statutory fees correctly.
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed Date 23/5/2025 S Gluyas
S E Gluyas Association of Accounting Technicians Association of Chartered Certified Accountants
## **PCC OF LEOMINSTER**
## **Statement of Financial Activities**
For the period 1 January 2024 to 31 December 2024
**INCOME AND ENDOWMENTS** Unrestricted Designated Restricted **Total funds** Last year
|**Donations and legacies**
Parish Giving Scheme
Standing Orders
Service Cash Collections
Contactless Giving
Income Tax Recovered on Gift Aid
Pillar Box
Donations
Legacies Received
Charity Collections
Wedding, Funeral & Baptism collections
**Income from charitable activities**
Funeral & wedding fees
Holiday Club
Fund Raising Events
**Other trading activities**
Bookshop Sales
Hire of Priory
**Investments**
Interest and dividends
Rented Property
Investment Revaluation Gain
**Other income**
Non recurring one off grants
Insurance claims
Other Income
**Income and Endowments Grand Total**|41,126
0
0
**41,126**
34,962
13,205
0
0
**13,205**
14,129
10,136
0
0
**10,136**
9,901
3,538
0
0
**3,538**
2,479
15,443
0
0
**15,443**
14,182
4,469
0
0
**4,469**
2,984
5,774
0
18,380
**24,154**
13,449
1,000
0
0
**1,000**
0
0
0
2,485
**2,485**
6,915
0
0
0
**0**
-80|
|---|---|
||94,691
0
20,865
**115,556**
98,921
5,893
0
0
**5,893**
5,401
0
0
5,010
**5,010**
5,314
14,976
0
1,183
**16,159**
19,491|
||20,869
0
6,193
**27,062**
30,206
1,127
0
0
**1,127**
2,022
1,696
0
0
**1,696**
4,935|
||2,823
0
0
**2,823**
6,957
4,776
0
13,131
**17,907**
11,319
15,620
0
0
**15,620**
14,824
0
0
0
**0**
2,436|
||20,396
0
13,131
**33,527**
28,579
1,800
0
7,877
**9,677**
28,940
0
0
0
**0**
434
929
0
0
**929**
0|
||2,729
0
7,877
**10,606**
29,374
**141,508**
**0**
**48,066**
**189,574**
194,037|
## **EXPENDITURE**
Unrestricted Designated Restricted **Total Funds** Last year
|**Raising funds**||||||
|---|---|---|---|---|---|
|Stock for Shop|242|0|0|**242**|300|
||242|0|0|**242**|300|
|**Expenditure on charitable activities**||||||
|Parish Offer|80,527|0|0|**80,527**|80,527|
|Charity PCC Donations|550|0|0|**550**|996|
|Organists & Choir Expenses|10,049|0|3,100|**13,149**|10,662|
|Mission|16,470|0|0|**16,470**|11,766|
|Leominster Team Payments|17,500|0|0|**17,500**|16,100|
|Holiday Club Expenses|0|0|4,562|**4,562**|5,861|
|Organ Tuning & Repairs|15,448|0|35,471|**50,919**|1,069|
|Cleaning, Repairs & Maintenance|1,500|0|3,646|**5,146**|4,729|
|Church Insurances|6,215|0|0|**6,215**|2,994|
|Service Expenses|671|0|0|**671**|1,365|
|Treasurer & Secretary Expenses|2,456|0|0|**2,456**|3,195|
|Printing Materials|761|0|0|**761**|3,916|
|Sundry Expenses & Membership Fees|2,254|0|941|**3,195**|2,737|
|Utilities|19,621|0|0|**19,621**|17,499|
|Use of Forbury|228|0|0|**228**|1,043|
|Other Projects Costs|0|0|0|**0**|6,982|
|Project Roof|0|0|0|**0**|52,055|
|Charity Collections Paid|0|0|4,803|**4,803**|3,624|
|Rented Property Expenses|8,013|0|0|**8,013**|4,432|
||182,263|0|52,523|**234,786**|231,552|
|**Other expenditure**||||||
|Fund raising costs|1,563|0|0|**1,563**|772|
||1,563|0|0|**1,563**|772|
|**Expenditure Grand Total**|**184,068**|**0**|**52,523**|**236,591**|232,624|
|**NET EXCESS/DEFICIT FROM OPERATIONS**|**-42,560**|**0**|**-4,457**|**-47,017**|-38,587|
|Priory Arts net surplus|0|17,528|0|17,528|0|
|Futures Project net surplus|0|0|61,991|61,991|0|
|**NET EXCESS/DEFICIT**|**-42,560**|**17,528**|**57,534**|**32,502**|-38,587|
|||||||
|Transfers between funds|0|0|0|**0**||
|Total funds brought forward|106,520|0|273,340|**379,860**||
|Total funds carried forward|116,857|17,528|277,976|**412,361**||
## **PCC OF LEOMINSTER**
## **Statement of Assets & Liabilities**
As at 31 December 2024
Unrestricted Designated Restricted Endowment **Total funds** Last year
|**Fixed Assets**
Priory Property
Bateman Memorial Fund Endowment
**Current Assets**
Bank of Scotland
Bank of Scotland Futures Project
CBF Legacy
CBF General Funds
CBF Fabric
CBF Young People
CBF Heating
CBF Projects:
- Projects general
- Flowers
- Leominster Asylum Seeks Support
- Priory Arts
CBF Music:
- Music Fund
- Bevington Organ
- Main Organ
Lloyds Bank Choir
Lloyds Bank Holiday Club
Bateman Memorial Fund Income Account
**Liabilities**
**NET ASSET SURPLUS**|0
0
0
102,090
**102,090**
102,090
0
0
0
28,329
**28,329**
28,329|
|---|---|
||0
0
0
130,419
**130,419**
130,419
50,017
0
0
0
**50,017**
24,070
0
0
73,789
0
**73,789**
0
13,238
0
0
0
**13,238**
24,732
52,387
0
0
0
**52,387**
54,863
0
0
130,627
0
**130,627**
154,742
0
0
17,430
0
**17,430**
16,551
0
0
31,048
0
**31,048**
29,483
0
0
7,801
0
**7,801**
18,418
0
0
92
0
**92**
547
0
0
2,229
0
**2,229**
4,457
0
17,528
0
0
**17,528**
0
0
0
6,993
0
**6,993**
32,076
0
0
539
0
**539**
9,186
0
0
0
0
**0**
900
1,214
0
0
0
**1,214**
2,854
0
0
981
0
**981**
533
0
0
6,447
0
**6,447**
6,447|
||116,856
17,528
277,976
0
**412,360**
379,859
0
0
0
0
**0**
0
**116,856**
**17,528**
**277,976**
**130,419**
**542,779**
510,278|