Charity registration number.. 1132828 The Parochial Church Council Of St Paul's Church, Weston-super-mare Annual Report and Financial Stalem8nts for the Year Ended 31 December 2025 sp The Parochial Church Council Of St Paul's Church, Weston-super-mare Contents Referen¢e and Administrative Details 1to2 Tru$lees' Report 31910 Independent Examiner's Report Statement of Finandal ActThiities 12 Balance Sheet Noles lo Ihe FinancAal Statements 14to32 The Parochial Church Council Of St Paul's Church, Weston-super-mare Reference and Administrative Details Charfty Reglstrntion Number 1132828 Principal Office The Pari8h Office Sl Paul's Church Vlalliscote Road Vveston-super-mafe B823 1 EF Dio¢•sÈ The Parish of St Paul's Weslon-super-mare is part of the Dk)cese of Bath and Wells Independgnt Examln¢r P Lomax, FCA Westcolls ISWI LLP Talllord House 38 Walliscole Road Wgslon-super-mare North Somersel B823 1 LP Trustaes and offl¢èrs The trustees and Off￿r$ servlng duiing the year and since the year end were as folkjws.. Chairman., Reverend C PhllbriGk Clergy.. Reverend S Healey Church Ward￿￿.. D Howaid K Hayward IResigned 10 November 2025) Deanery Synod Represenlalives.. S M¢Kechnle C Tratt E M 81yth IAppointed 14 May 20251 Co-opted Member., A Thomas (Treasu". erl J Heather (Appointed 5 July 2025) Page 1 The Parochlal Church Council Of St Paul's Church, Weston-super-mare Reference and Administrative Details Elected Members.. F Plmrn G Cromwell J Oevereux (Resigned 10 November 20251 J Williams IResigned 14 May 2025) F Tamut¢)n O Rayner J Britton P Bray IReslgnèd 7 Decernber 2025) S Dean IResSgned 6 June 2025} S Blshop IApp)inled 14 May 20251 P Savage (Appointed 14 May 20251 The charrfLy is unincorporated, the govemlng document of the charity is the PCC Powers Measure 119561 and Church Representakn'on rules. Memb&s ol the PCC are dravm from sources. those elected al the Annual Parish Churth Meellng, and Ihose who are ex officio members, The foi10￿n9 a￿ ex officio members All Clergy Ilcensed lo the paish Deacons and LKensed Lay Workers li¢ensed lo the parish The ¢hurchwardens Any person on the elecloral roll vkno is a member of deanery, diocesan or general synod Additional menbers may be co-opted onlo the council by the PCC during the ¢ourse of thè year. The number ol elected members on a PCC is govemed by the Church Reprèsentation Rules and is based ot) thè number of people on the electofal I￿1. but the APCM can determine (ID take effect in a yearfs timel how many elected memb¥s a PCC shall have. Page 2 The Parochial Church Council Of St Paul's Church, Woston-super-mare Year-onded 31 December 2025 Trustees. Report The Iruslees presenl thé annual rep￿ together vith the financial statements of the ch3rily for the year ended 31 December 2025. Aims and Purposos The ParoGhkl Church Goundl of St Paul's VVestOn&SLper-Mare has Ihe resrx)nsibllty of co-operallng wllh thè incumbent in promotin9 Sn the e¢clesrastvl parish the mission of the Church.. pastoral, evangelistic, social and ecuMen￿al. The aims of Sl Paul's are lo worship God, pr(Klaim tho gospel of Jesus Christ, make disclple5. s8Ne the local communlly, and seeK the gr￿￿h or Christ's ￿'ngdO￿. in Weslon-super-mare and beyond. In pursuing these aims, the PCC seeks to ensuie that the lrfe of the church 15 rooted in prayer, ghaped by scripture, open lo the work ol ihe HJty Spirit, and expressed through worship, welcome, pastoral care, seNice and missiori. Objectives and AC￿vItIeS The PCC is committed lo enablin9 as many peoFAe as possible lo corne lo faith In Jesus Christ and to grow as hls disciples through the Ilfe of St Paul's. To fulftl this, the PCC seeks.. lo provide worship and leach',rig Ihal are la￿￿,1ul. ac£os9ible and splrilually nourishing lo support ¢hildr¢n, young people and adutts In dis¢iple$4lip ar,d Christian forrnalion to offer pastoral care and prayer ministry to the cororegab.on and ￿der communty lo encourage procli￿] compassion and wmmunity engagement lo steward the church's peop￿. bLMldings and finances wsely for present ministry and fulure mission lo ensure that governance and safeguarding are Garrled out responsi￿Y and effectively In planning its aclivilies. the PCC has had due regard lo the Charity Commission's gu,,danGe on public benefit. 3. Achlevèmgnts and Porfomiance Ovgrview 2025 was a slgnrflcanl year in the lrfe of Sl PaL.I's. 11 was marted by spiritual deepening, growng clarity ol vision, and a renewed sense of purpose in YK¢ship, diycipleship and mission. Abngside many enGouragements, the year also brought real challenges in areas such as staffing.. finance and building5. Through all t￿,1$, the churcri has continued lo seek to serve faithfully and lo discern the Lord's leading for the season ahead Page 3 The ParoGhlal Church Council Of St Paul's Church, Weston-super-mare Year-ended 31 December 2025 Trustees. Report Iconlinued) Worship and Sundays Sunday ￿[ShiP Temalned at the heart of ¢hurch lile, vith regular galherings al 9.30am and 11.00am, alOngs￿e the Encounter evening servKe. Across the year. St Paul's continued lo priorilise ¢orpDrale woiship, biblical preaching and ministry in Ihe power of the Holy Spirrt. A major development in the la*er part ol Ile yea" was the beginning of a si9niflcanl worship reset. Thi5 was a deliberate season of re-cenlring the lrfe of the church around the presence L)f God, prayer and Iheologi¢a,' depth, Tather thar. performance or rouiine. I.. became one of the defining spiritual and slrale9i¢ themes of the year and helped shape the culture of the church in a significant way. Chlldren's Minlstry Children's mlnistry contsnued to be an important ar.d valued part of St Paul's life. The chiirch remained committed to wdcoming childrèn, supportr,"rE fam lies, and teaching the Chrisllan faith in age-appropriale ways. Sunday and weekday ministry to children prov5(Jed regular QPFOrtunities for learning, belonging and spiritual growth. Despite pressures created by bus￿ing limrtations and changing pattems ol volunteer availability, children's mini51ry remained active and fruthl. and the church cffltinued to see this as a key ar8a for investment in disuplèship and rnissi￿. Youlh Minlstry Youth ministry continued through regyLqT gatherings. tNste¢ relationships and discipleship opportunities. The church sought to create spaces in vknich young people could explore faith, grow in confidence as followers of Jesus. atTd build strong Chrisiian tr￿ndSh￿S. This remained an important a￿a of ministry in 2025, ¥￿th ongoing work lo strengthen both the spirflual depth and long.lerm sustainablllty of provision ft>r youTrJ people. Young Adults and Students Sl Paul's conllnued to invest in ministry amoThJ young ￿￿11$ and students recognlsing this as a strategically importanl area in the life of the chu'.ch This induded creating opportunities lor belonglng. diycipleshlp, community and seNce. The church remains encouraged by signs of gr0￿h in thls area and see5 this ministry as an Important part of it? future mi8•lon and kad¢r¥hlp plpeMn¢. Pastoral Care and Prayer Mln15try Pastoral care and player ministry con'.inued to be a vital expression of the cfr.uiGh's life. Thyugh formal and inlormal support: visiting. prayer mlnisiry and the wder pastoral life of Ihe Cong￿gatIon, many pegple were cared for through botTr, loyfLI and difficult ryrcumslances. Prayer also remained central to the identity of the churth. Across 2025 there was a nolKeable deepening in the sèriousness and priority given to prayer. both corporately and personally. This was one ol the defining spiritual features of the year. Page 4 The Parochial Church Council Of St Paul's Church, Weston-super-mare Year-ended 31 December 2025 Trustees, Report (continued) Communlty, Compassion and Local Misslon St Paul's ¢onllnued to engage in pra￿l¢al service and mission wlhin Weston.super-Mare. This included acts of compasslon, partnership. wekome 8nd a eontinued desbre to serve thè Yitdor ltr¢m The church's missional vision developed with greater clarity thrwgh the year, including a slr¢nglhening 3¢ns¢ ol respon51bllity not only for the immediate congregalk)n bul also for the wd•r community and, in time, for wider church re8ourcirvJ and support. Staffing and Team The minlslry of the chuich ¢Juring 2025 was supported by dergy, slaff and a wide range of volunleers. The PCC is deeply grateful for the Gommilmenl, professionalism and faithfvlness of the staff team and of all who serve in the life of St Paul's. As ￿th many churches, staffin9 and resourcing pressures requlred care',ul atr.ènlion. Even so, the team worked hard lo support ministry across worstrilp, opera:i04s. adrninislralion, Communi￿110n$, children, youth, youn9 aduls and pastoral lrfe. Safeguarding The PCC tskes safeguarding seriously and ￿S to ensure th* St Paul's is a safe ChU￿h for all. s31egua.ding policies and procedures We￿ maintained durirNJ the year. wth appropriate training. safer recruilmenl processes and I?p￿Ing structures in place. Safeguarding remains a core govemance responsibilty of the PCC and an essentlal part of thè church's comrnitment to the care of children, young people arHI vulnerable adutts. Fabiic arnd Bulldings The chur¢h buildings Continued to support a V+ide range of worship, ministry and community arjivily during 2025. Al the same lime, the year highlMJhted the ongoiTrJ challenge of mainlainSng an agang estate and addrèssing signlficanl repalr neeés. Building Ss5ues. induding roof-related ￿nCernS affecting mnistry space, required careful planning and financiol consideration The PCC remained attènlNe lo the stewardship of the chur¢h's buildlng8 a5 an import8p.I resixjrce lor missiorTr. ￿lIe recognising the pressure this places on finances and operational planning. Page 5 The Parochial Church Council Of St Paul's Church, Weston-super-mare Year-ended 31 Decembor 2025 Trustees. Report (continued) Governance and Wldtrr Church Rela￿onshIpS The PCC conllnued lo meel regularty lo provide govemance: oversight and leadership for the church's mission and ministry. The=hurch also remained actively engaged wth deanery and diocesan life 2nd continued to ¢ontrlbLrte lo wder conversations about missp)n, mirsisty and church development. Thi5 wder 6ng2gemenl reflected St Paul's grcthirtg Sense of vocation not only as a parish chtJr¢h, bul as a thurch seeking, vkner& appropriate, to serye and resource beyond itsdl. The Partxhial Church Counol Of Sl Paul'$ Church. Weston-supeT-Mare Financlal R¢vlgw The PCC Is grateful for God's provision through the gene105ty ofth8 congregation and th8 ￿reful stewardship of r&sources during 2025. The financial lrfe of ihe church ¢onlinied lo recLiire Close attent'on. WI￿. significan: pressures arising from general operating costs. staffiryg, minislry demand5 ar,d buikling maintenance. Alongside this. the church also held despnaled and restricted funds part￿ular FurpJses and continued lo manage these responsibly. The year required prudent finawial OVers￿h1. especrally in relaknon ID the balance befvtsen pr8senl ministry needs and future conmtbn8nts, irKluding building repairs and strategic investment. The PCC conllnued lo monllor ￿SeThe$ and cash Ilow carefvlty and sought lo aca responsibly in all finan¢i81 dec4sions. 2025 was a mainly positive fina￿181 year for Sl Paul's. The high poiil was an exceptional Gift Day, throug7 wh￿h the congregation donated more than É95.000. induding Gift ￿d, to support the ongoing ministry ofthe church. This was recognised in Unre51r*ted income I￿n transferred lo Designated funds. During Ihe year. the PCC w8s also able lo se¢ure an orfer the Charity Commissson for the ear release of funds held as investments Trhithin the GOCKI Shepherd Endowment Fund. Thls provided £141,447 lowaids the costs ol roof iefuTblshment. The refurbishment of the roofing over the North Aisle and attached areas vra5 Inè major area of extraord:'nary expenditure durin9 the year, with lolal eosls amounting 19 £194,436. During the year the church generated a total defiiil of £147,258. split behyeen thè funds as.. surplLJS of £5,089 in Unrestricted funds. deficit or £15,038 In Reslmcled funds. reducllon of£137,309 in E￿0￿ment fun(ts. Thls is due to the £141,447 transfer to the Reslrlcle funds, Cornbined wlh a gain in Investment valuo 01 £4,138 up lo the transfer dalo As al Ihe year*nd lolal funds held were £523.449, 5pITt beNveen funds as.. £490,943 was hekl in Unresli,'Gted funds. £32,506 was held in Reslricied furKIs. £Nil was held in Endowenl lunds. Page 6 The Parochial Church Council Of St Paul's Church, Weston-super-mare Year-ended 31 December 2025 Trustpes. Report {Gontinued) Income Unresldcted In¢om¢ for the year was £412,075 {2024', £361.3391. whih ctt)sidefabty exceeded budget piojection5, mainly due lo the exceptKJnal Gift Day r8ferred lo above. R8strict¥d Income Yfas £17.3SS 120Z4." £20,294}. Thtr 2024 flgure Induded a £2,545 recovery on disposal of £38,173 from North Somerset Cc￿n￿l vthich had been previously capitglised, bèing a payment made under 8 Se¢tK¢n 106 commllment in respect of the abandoned Quay Prciect, The PCC is also gfateful for a further grant of £15,000 trom Tho Rusty Bucket Christian Resource Centre towards the work of refurbishiThJ the chwl, particulaty the provision ol glazed doors. Expendlture Unresirided ¢xpendfcure amournled lo £406,98612024.. £392.4331. These figures incluce a non-cash deprecialion charge of £27,66012024.' £32,681}, a$ the PCC continues to depreciate the r&sidual assets, malnty the car park, of The Quay Prcyect over a 1&year lemi. Overall. unrestrlcted expenditure vrd$ kept within the pr¢¥eLled budget totsl. nolwthstsnding InC￿aSed inflationary pressure durlng the year. The PCC paid its fvll contribution to the Trvi%ed Di￿¢S8n Common Fund. amoLrnlin9 10 £139,208 12024-. £88,664). The 2024 figure refle¢led a voluntary reduction of £30.000 in light of roof elurbishmenl costs. The basis of ¢aleulaling contribulKins lo thè Benefi¢è Shaie/Common Fund has nt>N been revised and includes the costs of both stipendiary posts. Restricted fvnd expen¢ilure amounted to £173.840 (2024.. £33,917). maDily rellecllny expenditure on roof relurbi8hrnenl.. Fund Transfors During the year, £141,447 Wds transferred from the G¢yyJ Shepherd EndowThenl Fund lo the Good Shepherd ReStr￿ted Fund folloving the Charity Commissbon ￿ler referred to above. Durin9 the year, £97,791 was transferred ffom the Unrestricted Fund lo a new Designated Gift Day refund fgr donatl¢ns received the Gift Day. Fund Structure We created a new lund in Ihe year for the designation of the ￿natIOnS received on the Gift Day, as they are pending alk)Ca￿On lo projects. We created 8 new Re$lil¢led Fund for Iran3action$ relating lo a generous grant of £1 S,000 from The Ru51y Bucket Chrlslian Resource Centre forthe rÈfurbishmenl worKS on the small chapel. We created a new Reslricled Fund in the year, Good Shepherd - Funds, for the funds previously held in In trust released for use on roof repairs costs. As agreed Trmlh The Charfly Commis$Tron. Page 7 The Parochial Church Council Of St Paul's Church, Weston-super-mare Year-ended 31 December 2025 Trustees. Report Icontinuedl Reserves Policy The PCC'S policy is to maintain a balance of free reserves. defined as net cuirenl assets, equivalent tts two months ol budgeted general fund expenditure plus an additional one month's salary costs For 2026 this amounts lo £76,00012025'. £73,000) These reserves are held in order lo smooth out fluctuations in cash flow requirements and to meet any emergency or unexpected disruption to anlicipaled Income. They are held on short-term deposit wrfch banks and the CCLA Church of England Deposil Fund. Al the year end, the PCC held free reserves of £92,617, which is £16,617 above the curienl policy level. The PCC expects these excess funds to be fully expended over the short term as further refurb15hment and repair works are undertaken following the Quinquennial Inspection. In addition, the PCC holds £63, 116 in a designated Fabric Fund towards these costs. The PGC will continue lo fftonitor cash flow closely dLiring the coming year. Should reserves temporarily fall below the £76,000 level, proposals will be brought foward to restore Ihem over the following two to three year5. This policy wll be reviewed again in 12 months. lime. Looking ahead to 2026 The PCC has undertaken subslanlial restructuring over the past Ihree years in the light of chanoing circuwslsnces As a result, the gap behNeen present and projected levels ol income and expenditure has bèen substantially reduced year by year. with short-term sUPPQrt from reserves where needed. The Diocesan Benefice Share contribution requested for 2026 is £144,34112025' £139,206). The PCC continues to negotiate with the Diocese regarding the funding of housin9 for the curate due to start in September 2026. The 2023 Quinquennial Inspection confirmed a significant backlog of mainlenance and the need lor SLJbstanlial expenditure on the roof, stonework and wndows ol the church building. Vvhile 2025 saw the refurbishment of the soulh-facing ai51e and related areas. further wotk5 to the north ai51e are required and are expected to commence in 2026. The General Fund delicil lor 2026 is presently projected at £50,421, including an unexpected requirement of £10.000 towards curate housing. The PCG remains deeply grateful lor the faithfLJI giving of the St Paul's church family and will continue lo encourage generou5 giving as part ol our shared life together. The Parish Giving Scheme conlinues lo be well supported and remains the church's preferred roule for regular givirig, alongside online and conlaclles5 giving. Page 8 The Parochial Church Council Of St Paul's Church, Weston-super-mare Yearonded 31 December 2025 Trustees, Report {continued> Volunteer Thanks Th? PCC wshcs to Pla￿ on rgWTd Ti¥ sincoro 9ratitLhJe to the many volunteers %tho give their lime, glfts, energy and prayer lo the Ilfe of St Paul's. The ministry of the chuTth depends heavity on ihe fathfijl serwce of those who kad, welcome, pray, adminlslrale, teach, care, org8nise, maintain and serve in countless seen and unseen ways. Thls includes volunteers involved in MDrs*ip, children's and youth ministry, hosprt81'"ly, pastoral care, lechntsl SLbPWrt. governan¢¢, eveAl$, buildin￿ and many olhor aspects of church life. The PCC also expresses ils yirKere thanks to the clergy and staff team for their leadership and se¥vice throughout the year, Future Plar Looking ahead, the PCC believe5 that God is calling Sl Paul's lo continue growng in spiritual depth, missional clarity and generous service. PartiGular priorrtie5 lor the coming year include.. ontinuing lo deepen the culiure of prayer, y￿rShIp and responsNenes5 to the Holy Spirit 5treng'hening discipleship across all ages and stages of life gro¥Mng a culture of welcome, belonging and formalion investing in children, youth and young adult5 8¢Jdressing key staffing aThJ leaderS￿p prioriiies managing significant bullding and maintenance needs responsibly slewardlng finances carefulty Nthile remaiiing open lo Strateg￿ opportunities for mlsslon The PCC senses that the next season is one not sIm￿Y of consolkyalion, but of farthful and prayerful growlh. The church's desire is lo remain rtxjted In Christ while becoming increasingty fruitful in worship, w(Kd, welcome and mission. Page 9 The Parochlal Church Council Of St Paul's Church, Weston-super-mare Year-ended 31 December 2025 Truslees. Report {continued) 7. Structuro, Govemanc* and Management The PCC Is a charity excepted from registration %Mth the Chaitty Commission. The method ol appointment of PCC membeTS is set out in the Church Represenlatfjon Rules, The PCC consists ol the incumbent, churchwardens and elected members, together wth any ex officio members 8nd any memtrérs cwpted in acc(Kdan￿ wbth the Rules. The PCC members are responsible for maknng deosilhis on all matt8rs of general concem and import8Ace lo the paflsh, Including deciding on arKI monitoring the t￿dget. the maintenance of the ¢hurch bLJildings, and the diredion of ministry and missk)n. During the y?ar the PCC mel fegularty to cor,5ider the ongosng life and ministry of the Church, including worship, mission, safeguarding. finayce, staffing. b.JSldings and governan￿. The PCC seeks to ensure Ihat 2ppropriale policies: procedures and finanaal ccniols are in plaGe lo support the effecllve and lawful running Of th? parish. 13105126 The annual report was approved by the trustees of thecharity on . by.. and surted on its behalf Rev end C Philbrick Chaimian Page 10 The Parochial Church Council Of St Paul's Church, Weston-super-mare Independent Examiner's Report to the trustees of The Parochial Church Councll Of St Paul's Church, Weston-super-mare I report to the trustees on my examlnadon olthe acoyjnls ofThe Paro¢hlal Church C¢until Of Sl Paul'8 Church, W&Ston-sU￿r-MSre for the year ended 31 December 2025. R8sponsiblllOes aThl basis of report As the charity Iruslees of The Parochial nhuich Counc,1 Of St P2uI's Church, Weslon-super-Ma￿ you arè rèsponsible for the preparation of the accounts in aGGordanrg wth the regu'.iements gf th¢ Chatille? Atst 2011 ('tht A¢t'l. I report in respect ol my examinatTon of the The Paiochial Church Counul Of Sl Paul's Church, Weston- super-M8re's a¢¢ounts carried OLrt under s¢¢iion 145 of the 2011 Ad and in catrying out my exarninalion I have followed all the applicable Directions given by the Charity Commlssion section 14515llbl of the Act. Independent examinerfs ststement Since The Parochial Church Gouncil Of Sl Paul's Church, Weslon-super-mare's gross income exceeded £250,OQ)O your examiner mus+ bo a member of a booy listed in section 145 of the 2011 Act. I nfirm that l am qualified lo undertake Lfje examination because l am a member of FCA, which is one of the listed bodies. I have completed my examination, l ¢onfim that no material matter5 have come lo my allenlion in eonnè¢llon with the examination giving rne cause lo believe that in any material respe¢t.' 1. accounting records were not kept in respect of The par￿hla1 Church Ccyjnul OfSI Paul's Church. Weslon-super-mare as required by sedk)n 130 of the Act,. or 2. the a¢￿￿nIS do not accord wilh those re￿rdS., or 3. the accounts do not comply smth the accour.ling requirery,enls concwning the fo'.m and ¢ontenl ol ac¢ounls sel out in the Charities {Accounls and Rep(Ktsl Regulations 2008 other than any requirement that the accoLJnls give a Xrue and fair view is not a matter considered as part ol an indepÈndenl examinati￿. I have no concerns and hav8 come awss no olher rnatters in connection with the examinatlon 1¢ which attention should be drawn in Ihls report in orderto enable a proper understanding of the accounts lo be reached. Peter Lomax FCA Wesl¢otls (SW LLP Tal￿ord House 38 Wallisoole Road Weslon-svper-mare North Somerset BS23 1 LP Dale.... Page 1fj The Parochial Church Councll Of St Paul's Church, Weston-super-mare statement of Financial Activities for the Year Ended 31 December 2025 Unrestrfcted Restrlctad Endowment funds fvnds funds Total 2025 Totsl 2024 Note Income and Endov4ments from: Oonalions and legacies 2 Charitable aotivitss Olner trading activ61￿$ 4 Investment income Other Ineome 375,245 10,165 14,574 12,091 17,355 392 600 10,165 14,574 12,091 333,045 14,151 18,256 12,686 Total inc¢yne 412,075 429 430 381.633 Expendlture on.. Rai31ng funds Charitable aGlivities 11.224) 405.762 {1,2241 579,602 12,0441 424,307 173.840 Total expenditure Gainsnosses on inveslrnenl assets {4C6,9861 (173,840) (580,826> 1426,351} Nel incomeJlexpenditurel Gross transfer$ between funds 5.089 1156.4851 4,138 1147,2581 135,1021 25 141,447 141.447 Nel rnovemenl in funds 5.089 115,038} (137.309) 1147,2581 135,1021 R¢¢onclliation of funds Total funrts brought forward 485.854 137.309 670 707 705 809 Total funds carrled foward 20 499.943 32,5 523 449 670,707 All ¢f the charity's actsvilies derive from conlinuirvJ operations during the above two periods. The notes on pages 14 10 32 lomi an inte9ral part of these financial statements. Page 12 The Parochial Church Councll Of St Paul's Church, Weston-super-mare (Reglstration number: 1132828) Balance Sheet as al 31 December 2025 2025 2024 Note Flxed assets Tangible assot Invaslments 14 237,419 265,079 137 310 402 389 237,42 Curr9nl ass8ts Debtors Cash at bank and irb hand 16 17 13,660 284,541 298,201 30,235 248.719 278,954 Credltors: AmoLtnts falllng due within one year 18 12,172 10,638 Nat curront assets 286,029 268 318 N9t assets 523 449 670,707 Funds ofthg Charity: Endowmènt fvnds 137,309 Restricted in¢ome funds Reslrlcted funds 32.5C 47.544 Unreslrlcted income funds Unreslrided lunds 490 943 485,854 Total funds 20 523 449 670,707 The financial 51atemenls on pages 12 10 32 were approved by the trusteès. arvj authorised for Issue on . and signed on their behalf by.. Reve nd C Philbrick Chairman and trustee The notes on pages 14 to 32 lom an integral part ofthese financial slalemenls. Page 13 The Parochial Church Council Of St Paul's ChU￿h, We5ton-super-Mare Notes lo the Financial Statemenls for the Year Ended 31 Dècember 2025 1 Accounting policies statemenl of compllan¢ The financial slalemen'.s have been prepared in accordance wlh the second edition of the Charitie5 Slalernenl of Recommended Pradce issued in October 2019, the Finanaal Rewrting siandard applicable in the Unbted Kingdom and Republ￿ of Ireland IFRS 102) and the Charities Ad 2011. Bas1$ of preparation The Parochial Church CounrAI 01 Sl Paul's Chur¢h, Weslon-5upei-Mare meets the definition ol a public benefit enlily under FRS 102. Tle anxoun:s lfinanGial statements) have been prepared under the hislori¢al cost convenbDn wlh items recognised al ￿st or tra￿Sa¢b"an valJe unle55 olhethise slated in the rekvanl nole{sl lo these acwnts. The financlal statements are prepared in sterling. ￿1¢h is the functional ￿￿encY of the entHy. Going concem The trustees consider that there are no mateyal uncertaint￿$ at)oul the Gharty's ability lo continue as a giNng concern. Therefore Ihe accounts have been prepared on the going concefn basis. Judgemènts and key sources of estimation un¢Èrtalnty Thtr preparation of the financial 5talemenls reouires management to make judgements, eslimales and assumptions that affect the amounts reported. These e5￿MateS and judgements are continually reviewed and are based on experience and other fadors, including expeGlalions of ftthlure events that are bdieved to be reasonable under the ¢ir¢umsian￿s. Accounting eslimales and assumpts'ons are made con￿mIng the future and. by their r,alure, ￿711 rarely eqLJal the relalgd adual outcome. Expondlture All expenditure Is re¢ognlsed once there is a legal or conslructNe obl￿atIon lo that expenditure, 1115 probable selll¢menl is required and the amount can be measured reliably. All Costs are allocalod lo the applicable expend1ture heaéing that aggregate similar costs lo that category. whe￿ costs cannot be directly attrlbuted lo particular headlngs they have been allocated on a basly consislent wlh th¢ use ol resources, wth ¢en+ral slaft Costs alk>ca:ed on the basis of spent, and deprecialicn charges allocated on the portion of the asset's use. Othw support costs are allocated based on the spread ol staff ¢ost& Rolslng lund5 These are GDsts incurred in attracting volurtsry income, Ihe man8gem6nl of investments and ￿0$¢ incurred in tiading activitie5 that raise ILbnds. Charitable activitigs Charitable expenditure comprises those ¢oyl$ in¢urred by the charity in the delNery ol i*s aclivilie$ and services for ils beneficiarles. 11 includes both cgs'.s ihat can be all¢c8ted direclty 10 5dGh activities and those Gosls ol an indirect nature necessary l- suppor: them. Page 14 The Parochial Church Council Of St Paul's Church, Weston-super-mare Notes to tho Flnanclal Slatements for the Year Ended 31 December 2025 (contlnued) Incoming resources All income is included in the slalement ol finanGlal a¢tlvities w*en entrtlemenl ha5 passed lo the charfty. il is probable that the economic beneff(s assodated ￿th the transaction wll flow to the Charity and lie 2mounl can be feliably méasurèd. The following speeffic poliryes are applied to particular categories of incorne. income from donations or grants fecognised vthen there is evidencè of èntitlement to the gift, receipt is probable 8nd 115 amount can be measured reliably. legaey income is recognised when receipt is probatAe and enliuement is established. income from donated gwds is measured at the falr valuè of the gcojs unless this is impradical lo measure reliably, in which case the value is derived trom the cost lo the donor or the eslimaled resale value. Donated facilities and s¢rvi¢es are reGognised in the accounts [￿eNed if the value be reliably measured. No amounts are induded for the contribution of general volunteers. ' income from contiads for the suppty of semces is recognised ￿th the d￿￿ery of the contracted Service. This is classlfled a5 unrestricted fvnds unless there ks a conlradual requirement for it 19 be spent on a particular purpose and retumed rf unspent. in 4thich case il may be re9arded as reslricled. ' gift ald re¢eNable is included in income when there is a Val￿ declarats.on from the donor. Any Gift Aid amount recovered on a donation is consldered lo be part of Ihal gift and is treated as an addillor. to the same fund as the initial donation unless the dontsr or lemis of Ihe 8ppeal ttawe specffied otherth5e. Ihore has been no offsetting gf assets and liabilities. or income and expenses. unless required or permilled by the FRS 1Q2 SORP or FRS 102. interest receivable is included in the accounts wthen receipt 1$ probable and the amount re¢eivable can be rneasufed reliabty. inve51menl galny and losses include any realised or unrealised gains or losses on the sale of Investm￿t5 and any gain or loss resu.'ting fr(xn revaluiTrJ investments to market value al the end of the year. Govemance costs These include the costs attributabte lo the ¢harity's ¢omplh8n¢e wth constrtuiional and statutory requiremen18, including audit, strategic managemenl and tTUStees meellngs and reimbursed expenses. Page 15 The Parochial Church Counell Of Sl Paul's ChU￿h, Weston-super-mare Notes to the Financial Statements for the Year Ended 31 Decembèr 2025 Icontlnuedl Tanglble fixed assets Tangible assets 8re initially re¢ordÈo al cost, and subsequenuy stated at cos+ less any accumulated depre¢iatiort and impaim)errt losses. Any tangible assels carried at revalued amount$ are recorded 31 Ihe fair valu8 al the date ol rev8lualp)n te53 any Subsequent accumulalwj depreciatlon and SLJbsequenl accumiJl8led impaifment losses. An increase in the carrying amount of an asset as a resuY( ol a revaluation, is recognised in other reeognised gains and losses, unless il reverses a charge fof impaimienl that has previously been recognisec as expenditure within the statement of finan¢ial activities. Ad¢crease in the carying arp.ounl ol an asset as a r?$ult of revaluation. is recogn￿ in other recognised gains and losses, pl to which (L offsets any pievi?us revaluation gain, in which case the loss 1$ Sho￿ w.thin other recogn'.52d gasns and losses on the statement of financ4al acbvib"es. Depre¢lallon and amort15a￿On Depiecialion is provided on tawible fixed assets so as lo ￿]te off the ¢osl or valualion, less any esllm8led residual value, over thei:" expected use￿1 economic life a5 follows.. Depreciation method and rate Property improvements are depreciaied over their eslimal8d useful economic lrfe, which ranges befv￿en 5 and 15 years. Equipmenl is depreclated over >5 years on the slraighl line basis. Straight line 15 years Assgt class Property improvements Plant and machSnery Boller- Included on planl and mathinery Flxed asset Investments Unlisled equity investment are inrtralty recorded al cost, and subsequenuy measured a fair value. If falr value cannot be reliably measurBd, assets are measured at ¢osl l¢ss impairmenL Listed inwestments are measured at fair value vAth ¢hatges in fair value belng rewnised In in¢ome or expenditure. Cash and cash equlvalents Cash 8nd cash equiv8lentS Gomprise cash on hand and call deposlts, and other 8hol-term highly liquld inveslments that are readily convertible 19 a known anNyJnt of cash and are subiecl lo an Insi9nificanl risk of change in value. Fund structure UN￿$trIcted Income funds a￿ gener81 fvnds that are available for use at the IrLJ51ees discretion in furtherance ol the objectives of the chaThty. Designated funds are unreslricled funds s*i aside ft>1 specrfic purposes at the discretion of lie trusl¢es. Restricted funds are subiecleé lo reslrKlitr)s on thei", expenditure declared by the donor or IhrDugh the terms of an appeal and fall into one ol hvo subllows.' 2025 2024 staff costs during tho year¥￿re. Wages and 5818ries Social security cosis Pension cosls 84,417 1,621 155,036 183 1,849 157068 87,659 The average head count of employees during the year vrds 512024.. 10). The aveTage volunteers numbers were 124. No employee received emolumenls ol mre Ihan £60,WO during the yeaT12024' Nill. 13 Independent examln¢r'$ remuneration 2025 2024 Independent Examine¢s remuneration 3000 2,700 14 Tangible ffix￿ assets Property improvements Plant and machingry Total Cost Al 1 January 2025 Al 31 December 2025 248 064 529 133 281,069 248,064 529,133 Depreciation Al 1 January 2025 Charge for the year Al 31 December 2025 45.980 218,074 264,054 27 660 61,465 230 249 291.714 Not book v?luè Al 31 December 2025 17,815 237 419 At 31 Decembei 2024 235,089 29,990 265,079 Page 24 Thp Parochial Church Councll Of St Paul's Church, Weston-super-mare Notes to the Financial Statements for the Year Ended 31 December 2025 (continued) 15 Flxod asspt invèstments Other investments other Investments Cost orvaluation At 1 January 2025 Revaluab'on Disposals At 31 December 2025 137,310 4,138 141447 Npt book value Al 31 December 2025 Al 31 Decembèr 2024 137,310 Included above 15 a £1 Clarence House share held. Al the prior year end nveslment ossels were also held, al value of £137,309, however duiing 2025 they were released, See Note 26. 16 Debtors 2025 2024 Trade éeblors Prepayrnents Other debtors 7.252 2.085 4.323 13660 25,761 1.276 3,198 Page 25 The Parochial Church Council Of St Paul's Church, Weston-super-mare Notes to the Financial Statements for the Year Ended 31 December 2025 (continued) 17 Cash and cash equlvalenis 202S 2024 Cash at bank 284,541 248,719 18 Creditors: amounts falling dug withln one year 2026 2024 Trade creditors Other crediltsrs 11,339 833 10,152 484 19 Obllgations und9r léases and hiwe purrhasè contracts The l¢)tsl value ol futUTe minimum lease p8yments was as follow9." 2025 Wilhin one year In two lo five years 364 182 546 In relation lo a hiTe ag￿ement for a prfntèr_ Page 26 The Parochial Church Counell Of St Paul's Church, Weston-super-mare Notes to the Flnanclal Slatements for the Year Ended 31 December 2025 (continued) 20 Funds Balance at 8alaDcg at Oih¢r 31 l January InGomlng R¢tsources recognlsèd D8c8mbèr 2025 resources expended Transters gainsl{lossesl 2025 Unrestricted Ibnds General Unreslricled funds 129,533 412.075 1351,2001 197,7911 92,617 D¢slgnatod Designated . Gift Day Designated - Flxed Asset Fund Designated - Fabric Fund 97,791 97,791 265,079 127,860) 237,419 91,242 356 321 63,116 398 326 55,786 Total unr&$trl¢tod funds 485,854 412.075 406,986 Rostriet9d funds Reslricled Ouay ReslTicled Church PSanls Restricted- Klng's Table Reslricled- Vlcavs Discretionary Fund Reslricled - SILJdent & Young Adult Grant Fund Restrtcled Fund - Fabric Fund Reslricled Fund - Good shepherd 26.780 {26,7801 7,540 7,540 2.867 480 {1.5171 1,830 6,561 1,875 13001 8.136 3,796 13.796) 15,000 15,000 141,447 141447 47 544 17.355 173 840 Endowment funds Ellduwmenl 141,447 141,447 4,138 137.309 Total funds 670.707 429 430 580 826 4.138 523 449 Page 27 The Parochial Church Council Of Sl Paul's Church, Weston-super-mare Notes to Ihe Financial Statements lor the Year Ended 31 December 2025 (continued) Balance al Balance at Other 31 1 January Incoming Resources recognised December 2024 resources expended Transfers gain￿(lo$SeSI 2024 Unrestricted lunds General Unreslricled funds 174,766 359,491 {350,994) (53,7301 129,533 Designaled Designated - Fix Asset Fund Deslgnaled Fund - Fabric Fund 327,810 (32,6811 {31,8981 265,079 50,000 377,810 8,758 91,242 356,321 18,102 Total unreslriGted funds 552,576 361,339 392 433 (35 628 Reslri¢led funds Restrlcled - Quay Restricted V4Sllnspire Re51ricled - Church Plants Reslricled King's Table Reslricled Vicarfs discretionary Re51ricled Student & Young Adult Grant Fund 2,515 {16,978) 35,628 26,780 236 1236) 7,540 7,540 3,920 2.749 13.8021 2,867 8,258 (1.6971 6,561 15.(XJO 47 544 Endowmenl funds Endowment 127,693 127,693 137,309 137,309 Tolal funds 705 808 426,350 67D 707 Page 28 The Parochial Church Councll Of St Paul's Church, Weston-super-mare Noles lo the Financial Statemenls for the Year Ended 31 December 2025 (continued) 21 Analysis ol net assets between funds Unreslri¢ted funds General Total lunds at Restricted 31 December funds 2025 Tangible fixed assets Fixed asset investments Current assets Current liabllilies 237,419 237,419 265.695 {12,172 32,506 298.201 {12,1721 Tolai nel asset5 32,506 523,449 Unrestrlcted funds General Endowment funds Expendable Total funds al 31 December 2024 Restricted funds Tangible fixed assets Flxed asset investments Current assets Current liabililies 265,079 265,079 137,310 278,954 137,309 231,410 47,544 Total net assels 47.544 137 309 670.707 22 Related party transactTons There were no related party Iransaclv)ns in ihe year, thls i8 not includirKJ Iruslee remuneration and expense5 which are detailed in Note 11. Page 29 The Parochial Church Council Of St Paul's Church, Weslon-super-mare Notes lo the Financlal Stalemenls for the Year Ended 31 December 2025 (continued) 23 Description ol re5tricled funds Quay - Residual balance ol funds raised for The Quay project, fund now re-purposed and is being lilised lor related expenditure on Church hall. V4SllnspiTe - This represents funds lor training and life s￿11$. Church Plants - FLJnds PTeviously raised lor a Church ￿￿ting initiative which will be revitallsed in near lulure. Kir)g's Table - Winler WarmspaGe and hDI meal provision. Vicarfs Discretionary Fund.. Small grants arKI gifts for t￿se in nee(J ol hope and encouiagemenl. Siudenl & Young Adult- to financially support the devewienl of our Young Adult and Sludenl ministry. Fabrlc Fund - This fund holds donalion&'granls restricted for work on the labTlc ol the church I￿lIdIngS and glrt toward5 the Telurtxshment of the small chawl. Good Shepherd - Funds previousty heKI in in trust re￿aSed lor use on roof repairs costs. As agreed with The Charity Commission. 24 De$¢ription ol designated funds Fixed Asset Fund.. To br'.ng clear dislinclion between Un￿tr￿ted fixed and current assets. Fabric Fund.. Pro￿S1on lor anlicipaled maintenance costs. Glft day Fund: This fund holds the donations rw5ed al our Gift Day 2025, pending dlocation to Fwojecls. Page 30 The Parochlal Church Council Of Sl Paul's Church, Weslon-super-mare Notes lo the Financial Statemenls for the Year Ended 31 December 2025 (contlnued) 25 Reasons for transfers beiween lunds Year-en mber 2025 £141,447 from Endowment fut￿$ lo Restricted Fknnds - G(x)d Shepherd Fund Previously held in in trust released lor use on roof repairs costs. As agreed wilh The Charity Commission. £97,791 from UnrestTicled ILJnds lo Designated FU￿ the monies ralsed at our Gift Day 2025 is pending all(Kalion lo projecls. r-ended 31 Decernber 2024 Transfers from Unreslricled funds to Designated funds: £3,730 frotn Unrestricted funds lo Designated Fixed Assets funds distinction between unrestricted fixed and current assels. to a5s1sl with bringing cleaT £50,000 from the General furKI lo Designat￿1 Fabric Fund - as provision for anticipaled malnlenance cos15 Page 31 The Parochial Church Council Of St Paul's Church, Weston-super-mare Noles to the Financlal Statements lor the Year Ended 31 December 2025 (continued) 26 Description of endowmenl funds The PCC had investments held in trust on their behall in relatlon to Ihe Church ol the Good Shepherd and Church Hall charlly. Investments were held following the sale of Ihe Goc#J Shepherd Church and Hall on 31 sl August 1977 and the o1121131hs of the proceeds of sale and ol the Bb'ikling FuThJ, to Worle Parish towards the building ol St Mark's ChurGh. The remalning 1113th ol these pr￿ee[ts and Fund was directed by the Charity CommissiDners lo be held on trust lo accumulate Ihe income, leaving the capttal and accumulaled income untouched, lor the accumulalion perio¢ts sel out below. The Iruslees resolved lo release arKI spend the caDilal from endowme￿ fljr￿S under section 282-284 ol the Charities Act 2011. This was approved by The Charity Commission on 17th April 2025. The charity recovered £141,466 in respect of this Ihereafter making a fealised gain of £4.138. These funds were lo be utillsod solely lor the urgent repairs to roof, windows arml tnasonry ol Sl Paul's Church, Walliscole Road, Weslon-super-mare. Value a131 Value at 31 Dec 2025 Dec 2024 M&G Charibond1270 unilsl M&G Charibond1294 unilsl M&G CharilUr￿ (348 units) 11,258 12,258 113,793 137,309 Page 32