## **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 2023**
## **St Mary’s Ilminster PCC - Annual Report for 2023/2024**
## **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 church’s aim 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:
- worshipping God and growing in faith
- serving our local communities
- striving for a fairer and kinder world
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 particularly, 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
1
electoral roll and stand for PCC. PCC members also serve on committees and groups alongside other church members.
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 to our application to Inclusive Church. Sarah Wright confirmed the completion her Safeguarding training and Team Leaders were reminded that volunteers cannot start without completing the necessary paperwork.
Our September 2023 meeting included an update from the Fabric Committee, including a progress report on the boiler replacement, general building maintenance and updates on the fallen beam and Wadham tombs. The PCC approved the new ‘Ways to Give’ scheme.
The PCC approved the Budget for 2024 within the November 2023 meeting, noting that costs have significantly increased especially the costs of electricity and income is declining. The Minster Rooms boiler has a fault reflecting its age, and the blistered plaster will be addressed as part of the kitchen alterations, which were also approved during this meeting. An online booking calendar/system is being explored for the Minster Rooms, and photos of the completed space will be used to advertise their availability. The new Contactless Giving device has arrived and the Parish Giving Scheme is up and running.
Our first meeting in 2024, was in January the PCC ratified the vote to opt into the scheme offering Prayer of Love and Faith and discussed these prayers. This meeting reviewed the Reserves Policy, Legacy Policy and Conflict of Interest Policy, with the latter now including the receipt of gifts. The Fabric Report confirmed the repair of the Wadham Chapel beam and flagged that the monuments require cleaning/repairs. The Minster Rooms renovations were making good progress and we will acknowledge the legacies used.
The meeting ended with a discussion about the church’s finances, the budgeted deficit and the continued rising costs. We need to speak about giving in the Parish, Deanery and Diocese. The Deanery has lost 2.5 posts and has increased non-stipendiary roles such as Readers. As a start, a Facebook advertising campaign was suggested and all PCC members were encouraged to consider our financial situation.
Bishop Michael Beasley of Bath and Wells met with the PCCs on The Minster and Whitelackington on 11[th] March 2024.
Our final PCC of the year, focused on reviewing the information for the APCM, on the 15[th] April 2024.
## **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, although where possible the whole PCC make 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.
2
## **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. At the start of 2024, the Minster Rooms were refurbished extending the kitchen area to enable us to extend our hospitality and attract regular use by both the church and community. The team provide regular updates to the PCC.
## **Finance Committee**
During 2023, the Finance Committee included Carol Kingsland (Treasurer), Rev. Jo Stobart, David Hawkings (Gift Aid Coordinator) and Natalie Wainwright. Rev. Judith Swan and Sarah Wright were invited to join the Committee during the course of the year and have been welcome contributors to meetings.
The Committee has re-established a regular meeting pattern, coming together every three months to support Carol in her role as treasurer, as well as to look afresh at our approach to giving and fundraising at The Minster.
We have, once again, been fortunate to receive generous grant contributions from the Gooch Trust for essential building repairs, as well as significant legacies, which will only serve to enhance the ministry and mission of the church. Opportunities to attract additional grant funding for repairs, reordering and missional activities will be explored as necessary.
Sarah Wright and Natalie Wainwright have been ably supported by church members in hosting a number of fundraising events over the past year and continue to plan a programme of fundraising activities to boost income.
At the end of last year, the Minster benefited from the National Church’s Digital Roll-Out, administered locally by the Diocese. This has seen the installation of a new, heavily discounted, Contactless Giving Station, which is already proving to attract a higher number of donations from visitors and regular attendees.
Other new ways to give, which have been introduced in the past 12 months, include:
Bookmarks and Pew cards for visitors, to direct them to our Ways to Give page;
A new online giving platform provided by Give a Little for one off and regular gifts;
The Parish Giving Scheme for one-off and regular gifts, with the added benefit of Gift Aid being paid to the church monthly and the inclusion of an opt in to protect the church against inflationary increases.
The Parish Giving Scheme was introduced to existing regular givers alongside the thank you letters issued by David, in his role as Gift Aid Secretary. This communication has already seen a number of existing regular givers switch to this method of giving.
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Early in 2024, Rev. Jo and Natalie preached on the subject of generous giving, encouraging existing church members and potential new donors to consider how God might be calling them to review their giving as an act of discipleship.
A small increase in regular giving has been noted and it is hoped that this will continue on a positive trajectory throughout the rest of the year.
In the next part of 2024, the Committee will turn its attention to the anticipated changes, and potential increase, in the Parish Share request, advising the PCC accordingly. The Committee will continue to prayerfully consider how to communicate the financial needs of The Minster to the congregation and wider community, whilst being mindful of the continued pressure on personal budgets.
## **Natalie Wainwright**
## **Communication Team**
This is a joint team with Whitelackington 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.
## **Deanery Report APCM**
In last year’s report I shared a hope that we, as a Benefice could be generous with God’s gifts of people that we benefit from. This has certainly come to pass with Revd. Jo giving time and her skills to the challenging role of Area Dean, supported by myself as Lay Dean and Ian Stobart becoming a Local Minster in Merriott Benefice (North Perrot/Haselbury Plucknett).
Alongside the many smaller meetings to discuss pastoral organisation that have been held in different benefices across the Deanery we have also had three Deanery Gatherings (Synods) across the year. Our first meeting was in June 2023 and was led by Revd. Deborah Perreau and Revd. Annie Gurner, in St Peter and St Paul’s Church, South Petherton. The focus was on rural ministry and saw many share experiences of God working in their communities. There was also an opportunity to share challenges and resources.
Our second meeting was in November 2023, when we met at Whitelackington Village Hall and welcomed Bishop Ruth, Archdeacon Simon and members of the Diocese Parish Support team. It was an opportunity to hear from the Bishop on the Dioceses direction of travel, share local challenges and stories of positivity. It was an overwhelming positive evening.
Our third meeting was in February 2024 and was led by Diocesan Missional Priest for Youth and Young Adults. Revd. Rich Miles in All Saints Church, Merriott. The focus was on engaging with young people both in our churches and in our communities and in growing an apprentice mindset towards all as a church.
Our next gathering will take place at The Minster, Ilminster from 7.15pm on Thursday 20[th] June 2024. Our visiting speaker will be Professor James Woodward, who will lead a session on spirituality in the second half of life. You are all very welcome to attend.
Please do keep our Deanery in your prayers as we look to move forward together in God’s grace.
## **Jim Webb**
4
## **Financial Review**
Our budget for 2023 was set in November 2022, based on 10 months actuals and 2 months forecast, at that time we were budgeting a deficit of £25,041. Total income was budgeted to be £103,458; this did not include the grant from the Gooch Trust to cover the cost of the new boiler or legacies. Total income for 2023 was £257,613 this included £78,130 in Legacies received from parishioner’s, also £55,885 received/expected as a grant from the Gooch Trust. Other income totalled £123,598 a surplus of £20,140 or 19%.
Expenditure for 2023 was budgeted to be £128,479, this did not include costs relating to the church boiler or refurbishment of the Minster Rooms kitchen. Total cost was £208,524 after adjusting for boiler and kitchen other costs came to £142,152. An increase of £13,673 or 11%.
The deficit for the year on normal activities was £18,554 (excl. legacies and grants).
In 2023 a gain on investments of £38,930 was made, in 2022 a loss of £50,166 was recorded the market has begun to recover but has not reached 2021 levels to date.
The net movement in funds for 2023 when we include all income, costs and investments was £86,625
The church boiler has now been completed and all expenses paid, we are now waiting on the final grant from the Gooch Trust.
The kitchen refurbishment project for the Minster Rooms started in November with a new boiler, the kitchen has now been completed. The cost of this project is coming from the Legacies received.
This year’s budget was set in November 2023 and agreed at the PCC meeting in January. We are budgeting income of £104,445, expenses £132,538. The deficit for this year is budgeted to be £28,093. We have not included any grants or legacies in the budget.
## **Carol Kingsland**
## **Reserves Policy**
It is PCC policy to try to maintain a sufficient reserve of unrestricted liquid funds to smooth out fluctuations in cash flow and deal with unexpected costs.
Policy states we should have 3 months of running costs plus an additional month’s salary. The funds in our current and deposit accounts both classed as unrestricted cover this.
## **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 adopt Youth Policies. It was also agreed that all PCC members must complete Basic Awareness and Raising Awareness of Domestic Abuse Training before election to the PCC.
## **Administration information**
5
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 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 2023 the following served as PCC members:
Ex Officio members:
- Incumbent: The Rev Jo Stobart
- Curate: The Rev Judith Swan
- Warden: Alison Brown
- Jim Webb ex-officio on Diocesan Synod.
## Elected Members:
- Ian Stobart representative on Deanery Synod
- Lydia Munday representative on Deanery Synod
- Natalie Wainwright representative on Deanery Synod
- Rebecca Beggs (until 2024)
- Marion Pattison (until 2024)
- Teresa Hutchinson (until 2025)
- Peter Mackay (until 2025)
- Alistair Blackmore (Vice Chair) (until 2025)
- Lucy Gibbs (until 2026)
- Patricia Lindley (until 2026)
The PCC's bankers are NatWest plc, 26:27 Fore Street, Taunton TA1 1JQ
The independent examiner of this report and accounts is Elizabeth Coleman, FCCA Pretwood Chartered Certified Accountant, Old Bank Building, East Street, Ilminster TA19 0AJ.
Approved by the PCC on 15[th] April 2024 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 2023**
|**Note**
**Income nad Endowmenrts**
Voluntary income
3a
Income from Church activities
3b
Activities for generating funds
3c
Income from investments
3d|**Unresstricted**
**Funds**
**£**
160,893
7,431
6,299
12,189|**Restricted**
**Funds**
**£**
64,269
2,793
317
3,421|**Endowmwent**
**Funds**
**£**
-
-
-
-|**2023**
**2022**
**£**
**£**
225,161
102,112
10,224
7,377
6,617
9,134
15,610
12,597
**Total Funds**|
|---|---|---|---|---|
|Other income
3e
Total Income and Endowments
**Expenditure**
Raising funds
4a
Charitable activities
4b
Other
4c
Total Expenditure
**Net Income/(Expenditure)**
Transfers between funds
11b
Unrealised gains/(losses) on investm
6b
**Net Movement in Funds**
**Reconcilliation of Funds**
Total funds brought forward
1st January 2023 (2022)
Total Funds carried forward
31st December 2023 (2022)|-
186,812
1,067
119,914
10,978
131,959
54,853
54,853
5,726
60,579
260,266|-
70,800
248
70,690
5,627
76,565
5,766
-
5,766
-
5,880
115
137,722|-
-
-
-
-
-
-
-
-
25,570
25,570
273,130|-
573
257,612
131,793
1,315
647
190,604
99,503
16,605
3,962
208,524
104,112
49,088
27,681
-
-
49,088
27,681
37,176
29,525
86,264
57,206
671,118
700,643|
||**320,845**|**137,837**|**298,700**|**757,382**
**671,118**|
||||||
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## **ST MARY’S ILMINSTER PCC**
## **Balance Sheet**
## **As at 31 December 2023**
|**Note**
**Fixed Assets**
Tangible fixed assets
6a
Investment assets
6b
**Current Assets**
Short term deposits
7
Cash at bank and in han
8
Debtors and prepayment
9
**Current Liabilities**
Creditors falling due within
one year
10a
**Net Current Assets**
**Net Assets**
Represented by Funds:
Unrestricted
Restricted
Endowment|**Unresstricted**
**Restricted**
**Endowmwent**
**Funds**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
120,645
120,645
134,333
67,526
68,377
298,700
434,603
395,614
**Total Funds**|
|---|---|
||188,171
68,377
298,700
555,248
529,947|
||18,452
37,805
-
56,257
54,680
86,816
31,722
-
118,538
92,451
40,662
-
40,662
5,068|
||145,930
69,527
-
215,457
152,199
(13,255)
(67)
-
(13,322)
11,028
(13,255)
(67)
(13,322)
11,028
132,675
69,460
-
202,135
163,227|
|||
||**320,845**
**137,837**
**298,700**
**757,383**
**693,174**|
||320,845
320,845
260,266
137,837
137,837
137,722
298,700
298,700
273,130|
||**320,845**
**137,837**
**298,700**
**757,382**
**671,118**|
|||
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## **ST MARY’S ILIMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
## **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
9
## **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 2023 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 on a straight-line basis over the life of the asset. The additions relating to 2022 have been reversed, this expenditure was in relation to the new Church Boiler, which has now been taken to the Income and Expenditure account and set against a grant donated by the Gooch Trust
10
## **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.
11
## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
|3
3a
3b
3c
3d
3e|**Analysis of Income and Endowments**
Voluntary Income
Planned giving
Income tax recoverable
on Gift Aided Donations
Open plate service collections
Special Collections
Donations (unrestricted)
Donations (restricted)
Grants
Legacies
Income from Church Activities
Minster Rooms lettings and refreshments
Fees for weddings and funerals
Repayments for services & room hire
Activities for Generating Funds
Narthex Box and conttactless giving
Fund-raising
Income from Investments
Dividends
Interest
Other
Insurance claim
**Total Income and Endowments**|**Unresstricted**
**Funds**
**£**
56,390
14,927
4,268
5,178
2,000
78,130
160,893
-
4,788
2,643
7,431
2,793
3,506
6,299
8,779
3,410
12,189
**-**
**186,813**|**Restricted**
**Funds**
**£**
28
73
1,212
7,071
55,885
64,269
2,713
80
2,793
317
317
3,260
161
3,421
**-**
**-**|**Endow**
**Funds**
**£**
-
-
-
-
-
**-**|**2023**
**2022**
**£**
**£**
56,390
51,207
14,955
14,831
4,341
5,811
1,212
1,529
5,178
5,061
7,071
6,701
57,885
16,972
78,130
-
225,162
102,112
2,713
4,049
4,788
3,008
2,723
320
10,224
7,377
2,793
6,735
3,824
2,399
6,617
9,134
12,039
11,778
3,571
819
15,610
12,597
-
573
**-**
**573**
**257,613**
**131,793**
**Total Funds**|
|---|---|---|---|---|---|
||||**70,800**|**-**||
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## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
|4
4a
4b|**Analysis of Expenditure**
Raising Funds
Fund raising expenses
Church Activities
Diocesan parish share
Clergy expenses
Church running costs
Printing and stationery
Church maintenance
Salaries (note 5)
Depreciation
Distribtion of special collections
Donations from church funds
Church Boiler Replacement|**Unresstricted**
**Funds**
**£**
1,067
1,067
72,477
584
13,432
1,169
20,183
929
11,140
-
119,914|**Restricted**
**Endowmwent**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
248
1,315
647
248
-
1,315
647
72,477
68,367
584
679
4,340
-
17,772
11,485
470
1,639
829
8,733
8,733
7,034
20,183
9,466
929
1,262
1,212
1,212
131
50
11,190
250
55,885
55,885
-
70,690
-
190,604
99,503
**Total Funds**|**Restricted**
**Endowmwent**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
248
1,315
647
248
-
1,315
647
72,477
68,367
584
679
4,340
-
17,772
11,485
470
1,639
829
8,733
8,733
7,034
20,183
9,466
929
1,262
1,212
1,212
131
50
11,190
250
55,885
55,885
-
70,690
-
190,604
99,503
**Total Funds**|**Restricted**
**Endowmwent**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
**£**
**£**
248
1,315
647
248
-
1,315
647
72,477
68,367
584
679
4,340
-
17,772
11,485
470
1,639
829
8,733
8,733
7,034
20,183
9,466
929
1,262
1,212
1,212
131
50
11,190
250
55,885
55,885
-
70,690
-
190,604
99,503
**Total Funds**|
|---|---|---|---|---|---|
|4c|Other
Foodbank costs
Training
Minster Room Refurbishment
Total Expenditure|491
10,487
10,978
**131,959**|5,447
180
5,627
**76,565**|-
**-**|5,447
3,738
671
224
10,487
-
16,605
3,962
**208,524**
**104,112**|
The Minster room expenses shown in 4c relates to the refurbishment of the Minster Rooms Kitchen and boiler.
The payments have come from the legacy amount shown in 3a. These legacies were unrestricted.
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## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
|5|**Staff Costs**
Wages & salaries
Organist Salaries
Self EmployednOrganist Salaries
Pension contributions|**2023**
**2022**
**£**
**£**
15,862
5,574
2,532
3,825
1,635
-
154
67
**20,183**
**9,466**
**Total Funds**|
|---|---|---|
The PCC employed 3 staff members in 2023 on a part time basis a Benefice Administrator, organist and verger. 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 FTE’s (2022:0.75.)
14
## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
|6
6a|**Fixed Assets**
Tangible Fixed Assets
Gross cost at 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation at 1 January 2022
Charge for year at 5 years straight line
On disposals
Net book value at 31 December 2023
Net book value at 31 December 2022||**Land &**
**Buildings**
117,789
-
117,789
-
-
-
**117,789**
**£**
117,789
£|**Equipment**
**Total**
39,044
156,833
12,760
-
12,760
-
-
-
26,284
144,073
22,499
22,499
929
929
-
-
23,428
23,428
**2,856**
**£**
**120,645**
**£**
16,544
£
134,333
£|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
||||||
||||||
Depreciation has previously been shown as 25% reducing balance method. Liberty accounting software uses the straight-line method over a number of years. The assets being depreciated in this year’s accounts are based on 5 years. The addition relating to 2022 has been reversed, this expenditure was in relation to the new Church boiler. This expenditure has been taken to the income and expenditure account and set against a grant donated by the Gooch Trust.
## **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:_
15
St Marys PCC – 2987.16 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
## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
|6b|Analysis of Investments Held
LM Taylor Bequest
Restricted
Emm's Bequest
Endowment
St Mary's Fund
Unrestricted
Paull Bequest
Endowment
Stoodley Bequest
Endowment
Hall Bequest
Endowment
Unrestricted Funds
Restricted Funds
Endowmwnt Funds|**Valuation at**
**01/01/22**
62,497
35,455
59,987
175,291
58,293
4,091
**395,614**
59,987
62,497
273,130
**395,614**||**Unrealised**
**Transfer o Dividends**
**funds in y**
**reinvested**
1,813
**-**
**1,813**
1,813
**-**
**1,813**||**Gains on**
**Valuation at**
**Investments**
**31/12/22**
5,880
68,377
3,336
38,791
5,726
67,526
16,492
191,783
5,357
63,650
385
4,476|**Gains on**
**Valuation at**
**Investments**
**31/12/22**
5,880
68,377
3,336
38,791
5,726
67,526
16,492
191,783
5,357
63,650
385
4,476|
|---|---|---|---|---|---|---|---|
|||||
**-**
**-**||||
|||||||**37,176**
5,726
5,880
25,569|**434,603**|
||||||||67,526
68,377
298,700|
|||||||**37,176**|**434,603**|
## 7 **Short-Term Deposits Held**
Held with the CCLA in the CBF Church of England Deposit Fund
|LM Taylor Bequest
St Mary's Fund|**As at**
**31/12/2023**|
|---|---|
||5,457
32,348
18,452|
||**56,257**|
16
## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For theYear Ended 31 December 2023**
|8
**Cash at Bank and in Hand**
St Mary's ilminster
Minster Rooms
Fabric A/c
Paul Trust
9
**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
Gooch Trust
Payroll - HMRC|**As at**
**31/12/2023**
86,816
1,015
15,033
15,674
**118,538**
**2023**
3,149
579
-
711
1,161
-
-
1,128
-
37,218
129
**40,662**|**2022**
3,188
618
711
-
49
27
475
**5,068**|
|---|---|---|
||||
||-
-||
||||
17
## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
## 10a **Liabilities (amounts falling due within one year)**
|Church maintenance
Donations
Fees and collections to be paid out
Church running costs
Repayment for services and share of expenses
Organist fees
Fund Raising
Receipts 3rd Parties
Minster Rooms Refurbishment
Food Bank
Special Collections
Payroll Liabilites||**2023**
1,257
-
8,368
94
-
-
75
305
2,880
277
67
**13,322**|**2022**
1,917
832
6,896
302
674
174
-
165
-|
|---|---|---|---|
||||**10,960**|
18
## **ST MARYS, ILMINSTER PCC**
## **Notes to the Financial Statements**
## **For the Year Ended 31 December 2023**
## 11 **Funds**
## 11a Analysis of Restricted Funds
The following restricted funds are included within net current assets:
|Bells
Children and Families Life Leader
Community Outreach
Foodbank
Homework Club
Ilminster Parish Emergency Fund
LM Taylor Bequest deposit
Maintenance of the fabric of the church
Mediation
Memioies Café
Minster Rooms Upkeep and maintenance
Music and audio-visual
Small project donations
Simpson
Youth||**2023**
1,711
11,949
49
12,065
1,499
965
5,458
16,105
2,452
1,299
8,114
305
4,986
313
1,241
**68,511**|**2022**
1,590
11,949
738
11,184
1,499
590
5,457
21,596
2,323
1,356
10,084
305
4,986
313
1,255|
|---|---|---|---|
||||**75,225**|
19
**----- Start of picture text -----**
11b Transfer between funds
Memories Café Restricted 56
Minster Rooms Resticted - 56
-
**----- End of picture text -----**
## **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 2023 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.
20
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.
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 ___________
21