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2022-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ILMINSTER

Charity Number 1134398

Working Name: ST MARYS ILMINSTER PCC

REPORT AND ACCOUNTS For the year ended 31 December 2022

St Mary’s Ilminster PCC - Annual Report for 2022/2023

Aims

The Rev Jo Stobart is the Vicar of St Mary's Church, Ilminster (The Minster). The PCC work to promote the worship of God and spread the good news of God’s love. The PCC has responsibility for the upkeep of the Minster and of the Minster Rooms. The aim of the church is shared with Whitelackington, to be ‘Beacons of Christ’s light - sharing our love for God and our neighbours’; Worshipping God – Serving others – Striving for fairness’.

Objectives

The PCC will achieve our vision by:

The PCC are committed to working with the congregation and community to achieve and develop these aims.

The PCC has also considered the Charity Commission’s guidance on public benefit when setting its objectives and, in particular, the supplementary guidance on charities for the advancement of religion.

The PCC

The PCC met 6 times during the year, which is now our regular pattern, to enable us to have routine business items and longer discussion topics. The PCC have responded to any urgent issues via email between meetings.

The appointment of PCC members is set out in the Church Representation Rules. The PCC consists of the incumbent, churchwardens, and members of the congregation who are on the electoral roll of the church. All members of the congregation are encouraged to register on the electoral roll and stand for PCC. PCC members also serve on committees and groups alongside other church members.

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These committees and groups meet separately from the PCC, where possible, and regularly report back to the PCC.

July 2023 was our first PCC after the APCM, which agreed our application to Inclusive Church. As part of this, we will audit our practices. Livestreaming is our ‘shop window’. Sarah Wright confirmed that she had completed her Safeguarding training. Team Leaders were reminded that volunteers cannot start without completing the necessary paperwork. A ‘toddler group’ (Minster Minis) was proposed and agreed. This is aimed at the under 5’s and their parents.

In our September 2022 meeting the PCC welcomed Julie to her first meeting and she was elected as PCC Secretary. It was reported that our old boiler had been removed and a new one in place and we are waiting for National Grid to connect us to the power line. With the start of the cold season a sub-group of the PCC agreed that we should have a Rough Sleepers plan, liaising with local stakeholders. We were given notice that our Churchwarden Lydia would step down at the next APCM and our verger is stepping down from January 2023.

In the November 2022 meeting the PCC were introduced to William Lucy who has taken over as Chair of Fabric Committee from Steve Munday, William gave a brief update on repairs highlighted by the Quinquennial Inspection. Once advised that there would be no heating in church until end of Spring 2023 it was agreed that the Minster would continue holding Sunday Services in church with 10.30am Service livestreamed in the Minster Rooms for heat and fellowship, regular ‘Warm Spaces’ were discussed and initiated. The Safeguarding, Safer Recruitment & Social Media Policies were updated and agreed.

In January 2023 the PCC were given an update on the South Somerset Deanery vision, which includes a need for more lay or self-supporting ministries, and a reduction of paid posts from 12.5 to 10. The PCC approved the Budget for 2023 and the combining of the Minster Rooms finances into The Minster Accounts. The Youth and Children’s Policy was agreed.

In March 2023 the PCC considered projects that will make either the Minster or Minster Rooms more conducive for missional work within the church and community, these will be discussed in more detail after the planned Benefice Away Day on 20 May with guest speaker Robin Greenwood. PCC noted that no volunteers have come forward for Churchwarden position which becomes vacant in May. PCC were advised that the General Synod agreed to offer the opportunity for same-sex couples who have entered into civil marriages to have that relationship acknowledged, celebrated and blessed; these prayers are not yet commended and await the outcome of General Synod in July. PCC have agreed that the Minster will no longer offer intinction at Holy Communion, as instructed by Bishop Michael.

On 17 April 2023 the PCC focused primarily on the Annual Report and end of year Accounts in preparation for the Annual Parochial Church Meeting to be held on 21 May 2023. The completed Report & Accounts were approved with one recommendation; a name change for one of the funds – subject to the Independent Examination. The forecast for the year ahead shows that Income and Expenditure are both down. The Events Team have lots of activities planned to provide affordable social activities for the church and community as well as raise funds for the upkeep of the church. The Annual Report was agreed, subject to a couple of amendments and the APCM Agenda confirmed. The PCC reviewed and updated the Safeguarding Action Plan, which should be done annually to ensure all our safeguarding and child protection processes, procedures and training are in place and up to date. Future PCC meeting dates were noted and a reminder given about the Benefice Away Day on 20 May 2023 at Speke Hall, with guest speaker Revd Canon Robin Greenwood.

Standing Committee This is the only committee required by law. It has delegated power to transact the business of the PCC between its meetings and prepares the agenda for the PCC,

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although were possible the whole PCC have decisions via email between PCC meetings.

Fabric Committee is concerned with the maintenance and improvement of church buildings and fabric, and of the churchyard. During this year, the focus has been on the boiler replacement and responding to our quinquennial report.

World Community aims to link the Minster to the local and wider community.

Hospitality Committee is on hand to cater for our social functions and church events.

Minster Rooms Management Committee ensures the availability of rooms for parish and community use and would normally attract regular use by both the church and the community. Finances have now been merged into Minster Accounts. The team provide regular updates to the PCC.

Finance Committee has been focusing on navigating the church funds on an ongoing basis, acknowledging the long-term impact that Covid-19 has had on our income.

Communication Team is a joint team with Whitelackington’s PCC and its aim is to ensure that all communication activities fulfil our vision to be ‘Beacons of Christ’s light’. In the past year, we have continued to balance traditional methods of communication with our online options, using Facebook Live to livestream services.

Children and Family Life Leader Support Team was a small group who give support to the post holder. After consultation it was agreed that we could use these funds to resource a Church Community Work with either the support of events or a paid employee. Where appropriate donations were returned.

Deanery Report

It has been yet another busy year across the Deanery and there is now much greater clarity around the way forward for pastoral reorganisation in Somerset South (reduction of stipends from 12.5 to 10 full time equivalent posts). Although, under the Deanery Plan, our Benefice will maintain its full-time clergy post we must be mindful and fully supportive of local Benefices that are reducing in clergy numbers or increasing in Parishes. This is taking place to bring the Deanery into line with target Diocese figures and to more appropriately, balance Benefice characteristics and commitments, e.g. population, worshiping communities, schools, etc. As a Benefice I hope that we can be generous with Gods gifts of people that we benefit from and help our neighbours as they establish teams to ensure all their worshipping communities are supported.

Alongside the many meetings to discuss pastoral organisation we have also had three Deanery Gatherings (Synods) across the year. Our first meeting was in June 2022 when we met at Whitelackington Village Hall to explore how we use our buildings, the principal theme being ‘Buildings for Mission’ which had workshops and speakers from the Diocesan Support Services. Our second meeting was in November 2022 when we met at St. Peter’s Church, Horton to share the Deanery Pastoral Reorganisation Plan, the main item being ‘the plan for future deployment of clergy across the Deanery and our developing vision for ministry’. Our third meeting was in February 2023 when we met at our Minster Rooms to explore the ‘Enabling Ministries Initiative which explores the future of ministry in our parishes (known as Local or Focal Ministry) and how our Deanery plan fits into this – flourishing and thriving together’.

Our next gathering will take place from 7.15pm on 29[th] June at St Peter & St Paul, South Petherton with a special focus on ‘Village Churches: Sharing God's Blessings’. You are all very welcome.

Please keep our Deanery in your prayers as we move forward together .

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Financial Review

Our budget for 2022 was set in November 2021, based on 10 months actuals and 2 months forecast, at that time we were budgeting a deficit of £26,024. Total income was budgeted to be £161,200; this included a grant from the Gooch Trust of £60,000 to cover the cost of the new boiler. When this figure is removed from the accounts budgeted receipts were £101,200. Total income for 2022 was £131,794, this included a donation from the Gooch Trust of £12,000 towards the boiler. Total income from other activities were £119,794 an increase on budget of £18,594 or 18.4%.

Expenditure for 2022 was budgeted to be £187,224 which included a cost of £60,000 for the boiler. On removal of this cost expected running costs were budgeted to be £127,224. Actual costs less the £12,000 received from the Gooch Trust were £97,399. A saving of £29,825, 23%.

The fall in costs relates to salaries and utility costs. The former Office Administrator left in March 2022 and a replacement started in September 2022, therefore no salary was paid for 6 months. The church was unheated all winter due to the boiler finally breaking down and therefore gas costs were reduced. At present there is no date for the completion of fitting the new boiler, we are at present waiting on the National Grid.

In 2021 a gain of £57,657 was made on investments, in 2022 this fell to a loss of 51,920. 2022 has been a tumultuous year for the stock market. The war in Ukraine, the change of leadership in government and the cost-of-living crisis has all contributed to the loss. The total overall deficit for 2022 was £29,525.

The budget for this year was set in November and agreed in January at the PCC meeting. It was based on 10 months actuals and 2 months forecast. We are budgeting an increase in receipts of 2%, to £103,438. Costs are budgeted to increase by 28% to, £128,479. No costs have been included for the boiler as these will be offset by the grant received from the Gooch Trust which has also been excluded. The increase in costs relates to a full year’s salary for the Office Administrator, payment for a new Verger, which occurred in February 2023. An increase in utility costs has also been included as it is hoped the boiler will be working this year. Other church running costs have been increased by 5%.

Rebecca Beggs stepped down as interim treasurer and Caroline Kingsland took over the role.

Reserves Policy

It is PCC policy to maintain a sufficient reserve of unrestricted liquid funds. The Reserves Policy will now set a different amount each year. The amount will be calculated in November at the time of setting the budget. It will be based on 3 months general running costs, plus additionally one month’s salary. It will also include any works identified from a quinquennial inspection. The PCC will consider how any remaining reserves might be used for mission and outreach after any necessary fabric works are known.

Safeguarding

The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have the due regard to House of Bishops’ guidance on safeguarding children and vulnerable adults). Sarah Wright is the Benefice Safeguarding Officer. The PCC have agreed to adopt the Diocese Safeguarding policy, follow Safer Recruitment processes and adopted Youth Policies. It was also agreed that all future PCC members must complete C0 and Awareness of Domestic Abuse Training before election to the PCC.

Administration information

The Minster Church is situated in Court Barton, Ilminster. It is part of the Diocese of Bath & Wells within the Church of England. The PCC is a body corporate (PCC Powers Measure 1956, Church Representation Rules 2006). The full name of the PCC is The Parochial Church Council of the

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Ecclesiastical Parish of Ilminster, and its working name is St Marys Ilminster PCC. The PCC became a registered charity in England and Wales, number 1134398, on 18 February 2010. Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representation Rules. During 2022 the following served as PCC members:

Ex Officio members:

Elected Deanery Synod Members:

Elected PCC members:

The PCC's bankers are NatWest plc, 10 East Street, Ilminster TA19 0AA.

The independent examiner of this report and accounts is Elizabeth Coleman, Pretwood Chartered Certified Accountant, Old Bank Building, East Street, Ilminster TA19 0AJ.

Approved by the PCC on 5 May 2023 and signed on their behalf by The Rev Jo Stobart (PCC Chair)

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ST MARY’S ILMINSTER PCC

Statement of Financial Activities

For the Year Ended 31 December 2022

----- Start of picture text -----
Note Unrestricted Restricted Endowment Total Funds
Funds Funds Funds 2022 2021
Income and Endowments £ £ £ £ £
Voluntary income 3a 77,909 24,203 - 102,112 133,849
Income from Church activities 3b 3,328 4,049 - 7,377 6,699
Activities for generating funds 3c 9,060 74 0 9,134 2,525
Income from investments 3d 9,502 3,095 - 12,597 11,902
Other income 3e - 573 0 573 0
Total Income and Endowments 99,799 31,994 - 131,794 154,975
Expenditure
Raising funds 4a 623 24 0 647 1,035
Charitable activities 4b 91,846 12,944 0 104,790 119,230
Other 4c 224 3,738 - 3,962 40
Total Expenditure 92,692 16,706 - 109,398 120,305
-
Net Income/(Expenditure) 7,107 15,288 22,395 34,670
Transfers between funds 11b 13,177 -13,177 0 - 0
-
20,284 2,111 22,395 34,670
Unrealised gains/(losses) on inves 6b - 7,763 - 8,244 - 35,913 - 51,920 57,657
Net Movement in Funds 12,521 - 6,133 - 35,913 - 29,525 92,327
Reconcilliation of Funds
Total funds brought forward
1st January 2022 (2021) 247,745 143,855 309,043 700,643 608,316
Total Funds carried forward 260,266 137,722 273,130 671,118 700,643
31st December 2022 (2021)
----- End of picture text -----

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ST MARY’S ILMINSTER PCC

Balance Sheet

As at 31 December 2022

Note
Fixed Assets
Tangible fixed assets
6a
Investment assets
6b
Current Assets
Short term deposits
7
Cash at bank and in han
8		 Unrestricted
Funds
£
134,333
59,987		 Restricted
Endowment
Funds
Funds
2022
2021
£
£
£
£
134,333
122,195
62,497
273,130
395,614
445,781
62,497
273,130
529,947
567,976
46,765
-
54,680
54,041
27,887
-
92,451
77,063
Total Funds
194,320
7,915
64,564
Debtors and prepaymen
9
Current Liabilities
Creditors falling due within
one year
10a
Net Current Assets
Net Assets
Represented by Funds:
Unrestricted
Restricted
Endowment		 4,330 738
-
5,068
5,054
75,390
-
152,199
136,158
(165)
-
(11,028)
(3,491)
75,225
-
141,171
132,667
137,722
273,130
671,119
700,643
260,266
247,745
137,722
137,722
143,855
273,130
273,130
309,043
137,722
273,130
671,118
700,643
76,809
(10,863)
65,946
260,266
260,266
260,266

Approved by the Parochial Church Council on 5th May 2023 and signed on its behalf by:

Rev J Stobart

The notes on page 8 to 16 form part of these Accounts

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ST MARY’S ILIMINSTER PCC

Notes to the Financial Statements

For the Year Ended 31 December 2022

1 Accounting Policies

a) Basis of Preparation

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006, governing the individual accounts of PCCs, together with FS102 as the applicable accounting standards and the 2016 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).

The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities foe which the PCC is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.

Minor liabilities and consumable stocks under £500 have been ignored.

b) Funds Structure

Endowment funds are funds, the capital of which must be retained either permanently or at PCC’s discretion, the income derived from the endowment is to be used either as restricted or unrestricted income funds depending upon the purpose for which the endowment was established in the first place.

Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific PCC activity intended by the donor.

Unrestricted funds are income funds which are to be spent on the PCC’s general purposes.

c) Income Recognition

Planned giving, collections and similar donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and legacies are accounted for when the PCC is entitled to the use of the resources, as an inflow of economic benefit is probable and the amounts due are reliably quantifiable. Dividends are accounted for when

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ST MARYS, ILMINSTER PCC

Notes to the Financial Statements

For the Year Ended 31 December 2022

declared receivable, interest as and when accrued by the payer. All incoming resources are accounted for gross, i.e. before any related costs that may have been incurred.

d) Expenditure Recognition

Grants and donations are accounted for when paid over, or when awarded, as soon as an outflow of economic benefit is probable. The diocesan parish share expected to be paid over is accounted for when due.

All other expenditure is generally recognised when it is incurred and is accounted for gross.

e) Irrecoverable VAT

The PCC is not registered for VAT and so all irrecoverable VAT is included with the expenditure on which it was incurred. The PCC is able to reclaim a grant under the Listed Places of Worship Scheme representing VAT incurred on specific expenditure on fabric of the building.

f) Tangible Fixed Assets and Depreciation

The freehold land and buildings are entirely the Minster Rooms and are included at cost. An assessment has been carried out of whether there is any indication that the freehold land and buildings should be written down at the reporting date, and it has been decided that there was no indication and so no depreciation has been provided for. A revaluation policy has not been adopted.

Consecrated and benefice property is not included in the accounts in accordance with s.10(2)(a) and (c) of the Charities Act 2011.

Movable church furnishings held by the vicar and church wardens on special trust for the PCC, and which require a faculty for disposal are inalienable property, listed in the church’s inventory, which can be inspected at any reasonable time.

The equipment at 1[st] January 2022 comprised of furnishings in the Minster rooms, computer, printing equipment, fire extinguishers, Sunday school equipment and an electric piano. It has been included at cost and depreciated at 25% per annum on a reducing balance basis. Additions during the year were audio-visual equipment for livestreaming services and partial costs of the new boiler for the church.

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ST MARYS, ILMINSTER PCC

Notes to the Financial Statements

For the Year Ended 31 December 2022

g) Fixed Asset Investments

Investments are initially recognised at their transaction value and subsequently measured at their market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

h) Realised and Unrealised Gains and Loses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value., if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end, and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

2 Related Party Transactions

The Trustees all give freely of their time and expertise without any form of renumeration or other benefit or cash in kind.

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ST MARYS, ILMINSTER PCC Notes to the Financial Statements

For the Year Ended 31 December 2022

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ST MARYS, ILMINSTER PCC Notes to the Financial Statements For the Year Ended 31 December 2022

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ST MARYS, ILMINSTER PCC

Notes to the Financial Statements

For the Year Ended 31 December 2022

5
Staff Costs
Wages & salaries
Organist Salaries
Pension contributions		 2022
2021
£
£
5,574
16,200
3,825
67

178
9,466
16,378

Total Funds

The PCC employed a Benefice Administrator and organist during the year. A verger was added to the payroll in February 2023. Holiday pay in respect of holiday accrued but not taken at the year end has not been recorded as it is insignificant amount. Although the PCC is liable for Employers National Insurance on salaries, this expense was subsidised by the HMRC employers’ allowance and so as a result there was no cost to the PCC. The PCC offers a workplace pension in accordance with the rules for autoenrollment.

The average number of employees during the year was 0.75 (2021:1)

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ST MARYS, ILMINSTER PCC

Notes to the Financial Statements

For the Year Ended 31 December 2022

6b Investments

These consist of shares in the CCLA CBF Church of England Investment Fund and the COIF Charities Investment Fund, split as shown between the following funds:-

CBF Church of England Investment Fund:

St Marys PCC – 2903.34 units, Emm’s Bequest (Restoration Fund) - 1716 units, LM Taylor Bequest – 3024.84 units, Dr K Hall Bequest – 198 units, Paul Bequest – 8484 units.

COIF Charities Investment Fund

Reverend Stoodley - 3207.34 units

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Notes to the Financial Statements

ST MARYS, ILMINSTER PCC

For the Year Ended 31 December 2022

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Debtors and Prepayments
Income tax recoverable on gift aided donations
Fees for weddings and funerals
Photocopier rental and subscriptions prepayment
Repayment for services and share of expenses
PAYE paid in advance
Room Hire
Accrued Income		 2022
3,188
618
711
-
49
27
475
5,068		 2021
3,494
80
710
731
39
-
-
5,054

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ST MARYS, ILMINSTER PCC

Notes to the Financial Statements

For the Year Ended 31 December 2022

10
Liabilities (amounts falling due within one year)
Church maintenance
Donations
Fees and collections to be paid out
Church running costs
Minster Rooms running costs
Repayment for services and share of expenses
Special Collections - Charities
Organist fees		 2022
1,917

832
6,896

302
165
674
68
174
11,028		 2021
-
300
2,850

306
-
-
-
35
3,491

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11b Transfer between funds

Transfer of funds relating to expenses for holding mediation meetings and return of gift aid doanation to HMRC

Mediation fund
CFLL
Fabric
Food Bank
Unrestricted		 600
-
30
-
12,577
-
30
13,177
-

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THE CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ILMINSTER

Charity Number 1134398

Independent Examiner’s Report

This report on the accounts is to the Trustees and Members of the Parochial Church Council of the Ecclesiastical Parish of Ilminster for the year ended 31 December 2022 as set out on pages 1 to 5.

Respective responsibilities of the Trustees and the Examiner:

The Charity’s Trustees are responsible for the preparation of the accounts. I understand that 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 required.

It is my responsibility to: -

  1. Examine the accounts under Section 145 of the Charities Act

  2. To follow the procedures laid down in the general Directions given by the Charity Commission (under Section 145(b) of the Charities Act), and

  3. To state whether particular matters have come to my attention.

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the 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 for the Trustees concerning any such matters.

The procedures undertaken do not provide all of 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. The scope of 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 which gives me reasonable cause to believe that, in any material respect:

  1. Accounting records were not kept in accordance with section 130 of the Charities Act, or

  2. The accounts do not accord with the accounting records.

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

No fee has been charged for this Examination.

Signed ________ Name

Address

Date _____

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