THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ILMINSTER
Charity Number 1134398
Working name:
ST MARY'S, ILMINSTER PCC
REPORT AND ACCOUNTS
for the year ended
31 December 2024
ST MARY'S, ILMINSTER PCC
REPORT AND ACCOUNTS
for the year ended
31 December 2024
Contents
| Pages | |
|---|---|
| Annual Report | 1 - 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 - 14 |
| Independent Examiner's Report | 15 |
ST MARY'S, ILMINSTER PCC Annual Report for 2024/25
Aims
The Rev Jo Stobart was the Vicar of St Mary's Church, Ilminster (The Minster) until 30 March 2025. The PCC work to promote the worship of God and spread the good news of God’s love. The PCC is responsible for the upkeep of the Minster and 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 and, in particular, the supplementary guidance on charities for the advancement of religion.
The PCC
The PCC met 7 times during the year, with an extra meeting to review our budget. This regular pattern enables us to have routine business items and longer discussion topics. The PCC has 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.
These committees and groups meet separately from the PCC, where possible, and regularly report back to the PCC.
July 2024 was our first PCC after the APCM, during which the PCC thanked all those who worked hard to complete the Minster Rooms refurbishments. It was explained that to get married in church identity checks are completed, which is an additional cost for some couples.
Our September 2024 included approval for Charles Sparey to exercise Reader Ministry within this parish. The PCC approved the conservation of the Vaughan-Lee Altar Frontal and funding was in place, and the Minster Rooms could be used in a civil emergency.
The PCC considered ways to improve our finances with ideas like using Parish Giving and Easy Fundraising, holding a generosity day or a day of prayer. The pattern of services was reviewed with 3[rd] Sunday flagged as a difficult service. The PCC was asked how can we encourage people to step from outreach activities to acts of worship.
The PCC normally approve the Budget within the November meeting, but this year reviewed the proposed deficit to consider how we can increase income/decrease expenditure. Donations to other charities have been paused, Christ the King Sunday was used to promote giving.
A Benefice Service Plan was reviewed. The changes mean our service rota is resource-heavy: clergy and volunteers, especially those working with children. A working group was set up to consider Mission and different approaches for different age groups.
1
ST MARY'S, ILMINSTER PCC Annual Report for 2024/25
In 2025, we met in January and the Budget was approved with a deficit of £15,000 forecast. The Finance Committee was asked whether Fabric costs can be paid from an appropriate Endowment and whether we can repurpose any Endowment. The Minster Rooms Fire Alarm needs to be updated and this was agreed, but the Finance Committee will investigate Grants/Endowment to fund this. We are exploring the Kiosk on the Rec, and we could offer drinks, snacks (donated), some Roots and Shoots equipment and be present with the young people.
March 2025 began with an extraordinary meeting to discuss the church’s financial situation.
The 2[nd] meeting in March spent time reviewing one of four safeguarding worksheets, which asked us to consider the strengths and weaknesses of our church and the idea of a Christian presence on the Rec through the kiosk.
In April 2025, the meeting reviewed the information for the APCM.
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.
The Minster Rooms Management Committee ensures the availability of rooms for parish and community use. Since their refurbishment, we have extended our hospitality and attracted regular use by both the church and the community. The team provide regular updates to the PCC.
Finance Committee has been focusing on navigating the church funds on an ongoing basis, acknowledging the longterm impact that Covid-19 had on our income, and the rising costs we are facing.
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.
Financial Report
Our budget for 2024 was set in November 2023, based on 10 months' actuals and 2 months' forecast. At that time, we were budgeting a deficit of £28,093.
Total income was budgeted to be £104,443; this did not include the grant from the Gooch Trust to cover the cost of the work on the tower. Total income for 2024 was £131,038 after adjusting for the grant. In 2023, we received £257,612, this figure was enhanced due to Legacies and Grants. If we strip out these figures’ total receipts, they were £121,597. Receipts in 2024 increased by £9,441 or 8%, compared to 2023. Compared to the budget, receipts were up £26,595 or 25%.
Expenditure for 2024 was budgeted to be £132,538, this did not include costs relating to the tower or refurbishment of the Minster Rooms kitchen. The total costs were £192,848; after adjusting for the tower and kitchen, other costs came to £141,778. Other costs in 2023 totalled £142,152, which is an decrease of £374 or 0.3%. Compared to the budget, expenditure was up £9,240 or 6.97%.
The deficit for the year on normal activities was £10,740 (excl. legacies and grants).
In 2024, a gain of £9,923 on investments was recorded. In 2023, a gain of £37,176 was made in the market. However, in 2024, the market suffered due to the change in government and the downgrading of the economy.
2
ST MARY'S, ILMINSTER PCC Annual Report for 2024/25
The net movement in funds for 2024, when we include all income, costs and investments, was a fall of £25,162.
Work on the church tower should be completed this year. The kitchen refurbishment project for the Minster Rooms started in November 2023 with a new boiler and was completed in 2024. The cost of this project came from the Legacies received. The balance of the legacies will be used to update the fire alarm system in the Minster Rooms, and this project should be carried out this year, awaiting quotes.
This year’s budget was set in November 2024 and agreed at the PCC meeting in January. We are budgeting an income of £122,442 and expenses of £137,356. The deficit for this year is budgeted to be £14,913. 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.
The 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 due regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults). Sarah Wright and Norma Bestley are the Benefice Safeguarding Officers. The PCC has 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, Foundation Awareness and Raising Awareness of Domestic Abuse training before election to the PCC.
3
ST MARY'S, ILMINSTER PCC Annual Report for 2024/25
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 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 2024 the following served as PCC members:
Ex Officio members:
-
Incumbent: The Rev Jo Stobart (resigned in March 2025)
-
Wardens: Lydia Munday and Alistair Blackmore
-
Jim Webb ex-officio on Diocesan Synod (resigned June 2024)
Elected members:
· Ian Stobart representative on Deanery Synod (resigned in March 2025)
· Lydia Munday representative on Deanery Synod
· Natalie Wainwright representative on Deanery Synod · Rebecca Beggs (until 2027) (Vice Chair)
· Marion Pattison (until 2027) · Norma Bestley (Safeguarding Officer) (until 2027) · Lucy Gibbs (until 2026) · Patricia Lindley (until 2026) · Tristan Slade (until 2026) (resigned in March 2025) · Peter Mackay (until 2025) · Alistair Blackmore (until 2025)
Co-opt members:
· Sarah Wright as Safeguarding Officer · Charlie Day
The PCC's bankers are NatWest plc, 26-27 Fore Street, Taunton TA1 1JQ
The independent examiner of this report and accounts is Gemma Crabb FCCA, Old Bank Building, East Street, Ilminster TA19 0AJ.
Approved by the PCC on 07/04/2025 and signed on its behalf by Rebecca Beggs (PCC Vice-Chair).
4
ST MARY'S, ILMINSTER PCC
Statement of Financial Activities
For the Year Ended 31 December 2024
| Income and Endowments Voluntary income Income from Church activities Activities for generating funds Income from investments Total Income and Endowments Expenditure Raising funds Charitable activities Other Total Expenditure Net Income/(Expenditure) Unrealised gains on investments Net Movement in Funds Reconciliation of Funds: Total funds brought forward 1st January 2024 (2023) Total funds carried forward 31st December 2024 (2023) Transfers between funds |
Note 3a 3b 3c 3d 4a 4b 4c 10b 6b |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 93,687 35,748 - 129,435 225,162 4,189 2,777 - 6,966 10,223 1,376 2,593 - 3,969 6,617 13,788 3,605 - 17,393 15,610 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 93,687 35,748 - 129,435 225,162 4,189 2,777 - 6,966 10,223 1,376 2,593 - 3,969 6,617 13,788 3,605 - 17,393 15,610 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 93,687 35,748 - 129,435 225,162 4,189 2,777 - 6,966 10,223 1,376 2,593 - 3,969 6,617 13,788 3,605 - 17,393 15,610 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 93,687 35,748 - 129,435 225,162 4,189 2,777 - 6,966 10,223 1,376 2,593 - 3,969 6,617 13,788 3,605 - 17,393 15,610 TOTAL FUNDS |
|---|---|---|---|---|---|
| 113,040 | 44,723 | - 157,763 257,612 |
|||
| 504 112,353 29,564 |
100 45,787 4,540 |
- 604 1,315 - 158,140 190,604 - 34,104 16,605 |
|||
| 142,421 | 50,427 | - 192,848 208,524 |
|||
| (29,381) 3,241 |
(5,704) (3,241) |
- (35,085) 49,088 - - - |
|||
| (26,140) 1,540 |
(8,945) 1,565 |
- (35,085) 49,088 6,818 9,923 37,176 |
|||
| (24,600) 320,845 |
(7,380) 137,837 |
6,818 (25,162) 86,264 298,700 757,382 671,118 |
|||
| £296,245 | £130,457 | £305,518 £732,220 £757,382 |
5
ST MARY'S, ILMINSTER PCC
Balance Sheet
As at 31 December 2024
| Fixed Assets Tangible fixed assets Investment assets Current Assets Debtors and prepayments Short-term deposits Cash at bank and in hand Current Liabilities Net Current Assets Net Assets Represented by Funds: Unrestricted Restricted Endowment Creditors falling due within one year |
Note 6a 6b 7 8 9 10 |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 120,103 - - 120,103 120,645 70,960 69,942 305,518 446,420 434,603 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 120,103 - - 120,103 120,645 70,960 69,942 305,518 446,420 434,603 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 120,103 - - 120,103 120,645 70,960 69,942 305,518 446,420 434,603 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 120,103 - - 120,103 120,645 70,960 69,942 305,518 446,420 434,603 TOTAL FUNDS |
|---|---|---|---|---|---|
| 191,063 | 69,942 | 305,518 566,523 555,248 |
|||
| 3,780 18,503 84,982 |
20,606 40,451 206 |
- 24,386 40,662 - 58,954 56,257 - 85,188 118,538 |
|||
| 107,265 (2,083) |
61,263 (748) |
- 168,528 215,457 - (2,831) (13,323) |
|||
| 105,182 | 60,515 | - 165,697 202,134 |
|||
| £296,245 | £130,457 | £305,518 £732,220 £757,382 |
|||
| 296,245 - - |
- 130,457 - |
- 296,245 320,845 - 130,457 137,837 305,518 305,518 298,700 |
|||
| £296,245 | £130,457 | £305,518 £732,220 £757,382 |
Approved by the Parochial Church Council on 07/04/2025 and signed on its behalf by:
…………………………………………..
R Beggs
The notes on pages 7 to 14 form part of these Accounts.
6
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements
For the Year Ended 31 December 2024
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 FRS102 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 for 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 the 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, an inflow of economic benefit is probable and the amounts due are reliably quantifiable. Dividends are accounted for when declared receivable, interest as and when accrued by the payer. All incoming resources are accounted for gross, ie 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.
7
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements
For the Year Ended 31 December 2024
1 Cont'd
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 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 churchwardens 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 1st January 2024 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.
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 Losses
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 remuneration or other benefit or cash in kind.
8
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2024
| 3 Analysis of Income and Endowments 3a Voluntary Income Planned giving Open plate service collections Special collections Donations (unrestricted) Donations (restricted) Grants Legacies 3b Income from Church Activities Fees for weddings and funerals Repayments for services 3c Activities for Generating Funds Narthex Box and contactless giving Book stall Fund-raising 3d Income from Investments Dividends Interest Total Income and Endowments Room hire and refreshments Income tax recoverable on Gift-Aided donations |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 62,192 - - 62,192 56,390 12,709 - - 12,709 14,955 3,802 - - 3,802 4,341 - 2,365 - 2,365 1,212 14,984 - - 14,984 5,178 - 6,658 - 6,658 7,071 - 26,725 - 26,725 57,885 - - - - 78,130 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 62,192 - - 62,192 56,390 12,709 - - 12,709 14,955 3,802 - - 3,802 4,341 - 2,365 - 2,365 1,212 14,984 - - 14,984 5,178 - 6,658 - 6,658 7,071 - 26,725 - 26,725 57,885 - - - - 78,130 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 62,192 - - 62,192 56,390 12,709 - - 12,709 14,955 3,802 - - 3,802 4,341 - 2,365 - 2,365 1,212 14,984 - - 14,984 5,178 - 6,658 - 6,658 7,071 - 26,725 - 26,725 57,885 - - - - 78,130 TOTAL FUNDS |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 62,192 - - 62,192 56,390 12,709 - - 12,709 14,955 3,802 - - 3,802 4,341 - 2,365 - 2,365 1,212 14,984 - - 14,984 5,178 - 6,658 - 6,658 7,071 - 26,725 - 26,725 57,885 - - - - 78,130 TOTAL FUNDS |
|---|---|---|---|---|
| 93,687 | 35,748 | - 129,435 225,162 |
||
| 413 3,505 271 |
2,746 - 31 |
- 3,159 2,712 - 3,505 4,788 - 302 2,723 |
||
| 4,189 | 2,777 | - 6,966 10,223 |
||
| 1,286 90 - |
- - 2,593 |
- 1,286 2,793 - 90 - - 2,593 3,824 |
||
| 1,376 | 2,593 | - 3,969 6,617 |
||
| 8,989 4,799 |
3,099 506 |
- 12,088 12,039 - 5,305 3,571 |
||
| 13,788 | 3,605 | - 17,393 15,610 |
||
| £113,040 | £44,723 | £- £157,763 £257,612 |
9
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2024
4 Analysis of Expenditure
| 4 Analysis of Expenditure |
|||||
|---|---|---|---|---|---|
| 4a Raising Funds Fund-raising expenses Bookstall costs 4b Church Activities Diocesan parish share Clergy expenses Church running expenses Church maintenance Salaries (note 5) Depreciation Distribution of special collections Donations from Church funds Church boiler replacement Church tower repairs 4c Other Foodbank costs Training costs Minster Rooms refurbishments Total Expenditure |
Unrestricted Restricted Endowment Funds Funds Funds 2024 2023 141 100 - 241 1,315 363 - - 363 - TOTAL FUNDS |
||||
| 504 | 100 | - | 604 1,315 |
||
| 68,769 885 19,325 - 21,973 542 - 859 - - |
- - 4,557 18,209 - - 2,365 50 - 20,606 |
- 68,769 72,477 - 885 584 - 23,882 19,411 - 18,209 8,733 - 21,973 20,183 - 542 929 - 2,365 1,212 - 909 11,190 - - 55,885 - 20,606 - |
|||
| 112,353 | 45,787 | - 158,140 190,604 |
|||
| - 100 29,464 |
3,540 - 1,000 |
- 3,540 5,447 - 100 671 - 30,464 10,487 |
|||
| 29,564 | 4,540 | - 34,104 16,605 |
|||
| £142,421 | £50,427 | £- £192,848 £208,524 |
Minster Rooms refurbishments in note 4c relate to the refurbishment of the kitchen. This was funded mainly by a legacy received in 2023.
10
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2024
| ST MARY'S, ILMINSTER PCC Notes to the Financial Statements (Continued) For the Year Ended 31 December 2024 |
||
|---|---|---|
| 5 | Staff costs Wages and salaries Organist salaries Self-employed organist payments Pension contributions and service charges |
2024 2023 16,706 15,862 3,280 2,532 1,805 1,635 182 154 |
| 21,973 20,183 |
The PCC employed three staff members in 2024 on a part-time basis: a benefice administrator, an organist and a verger. Holiday pay in respect of holiday accrued but not taken at the year end has not been recorded as it is an insignificant amount. Although the PCC is liable for employer's National Insurance on salaries, this expense was subsidised by the HMRC employer's 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 autoenrolment.
The average number of employees during the year was 3 (2023: 3).
6 Fixed Assets
| 6 | Fixed Assets | ||||
|---|---|---|---|---|---|
| 6a | Tangible Fixed Assets (all unrestricted) Gross cost at 1 January 2024 Additions Disposals At 31 December 2024 Depreciation at 1 January 2024 Charge for year at 25% straight line On disposals At 31 December 2024 Net book value at 31 December 2024 Net book value at 31 December 2023 |
Land & Buildings 117,789 - - |
Equipment 26,284 - - |
Total 144,073 - - |
|
| 117,789 | 26,284 | 144,073 | |||
| - - - |
23,428 542 - |
23,428 542 - |
|||
| - | 23,970 | 23,970 | |||
| £117,789 | £2,314 | £120,103 | |||
| £117,789 | £2,856 | £120,645 |
The assets depreciated in this year's accounts are being done so over five years.
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 - 3068.8106 units; Emms Bequest (Restoration Fund) - 1716.00 units; LM Taylor Bequest - 3024.84 units; Dr K Hall Bequest - 198.00 units; Paul Bequest - 8484.00 units
COIF Charities Investment Fund:
Reverend Stoodley - 3207.34 units
11
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2024
6b Continued
Analysis of Investments Held
| Analysis of Investments Held | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 7 8 |
Transfer of Valuation at funds in year 01/01/2024 (note 10b) L M Taylor Bequest 3019450 Restricted 68,377 - Emms Bequest 3019452 Endowment 38,791 - St Marys Fund 3019453 Unrestricted 67,526 - Paull Bequest 3001322 Endowment 191,783 - Stoodley Bequest 3056074 Endowment 63,650 - Hall Bequest 3001175 Endowment 4,476 - £434,603 £- Unrestricted Funds 67,526 - Restricted Funds 68,377 - Endowment Funds 298,700 - £434,603 £- 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 Telephone charges overpaid Accrued income Grants receivable (restricted) Short-Term Deposits Held |
Transfer of Valuation at funds in year 01/01/2024 (note 10b) 68,377 - 38,791 - 67,526 - 191,783 - 63,650 - 4,476 - |
Dividends reinvested - - 1,894 - - - |
Unrealised Gains on Investments |
Valuation at 31/12/2024 69,942 39,679 70,960 196,173 65,088 4,578 |
||||
| 1,565 888 1,540 4,390 1,438 102 |
|||||||||
| £434,603 | £- | £1,894 | £9,923 | £446,420 | |||||
| 67,526 68,377 298,700 |
- - - |
1,894 - - |
1,540 1,565 6,818 |
70,960 69,942 305,518 |
|||||
| £434,603 | £- | £1,894 | £9,923 | £446,420 | |||||
| 2024 2,258 - - - - 1,522 - 20,606 |
2023 3,149 (579) 711 1,162 129 - (1,128) 37,218 |
||||||||
| £24,386 | £40,662 | ||||||||
Held with CCLA in the CBF Church of England Deposit Fund:
| Short-Term Deposits Held Held with CCLA in the CBF Church of England Deposit Fund: |
|
|---|---|
| L M Taylor Bequest Restricted St Marys Fund: Restricted Unrestricted |
As at 01/01/2024 As at 31/12/2024 5,457 5,457 32,348 34,994 18,452 18,503 |
| £56,257 £58,954 |
12
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2024
9 Cash at Bank and in Hand
| Cash at Bank and in Hand | |
|---|---|
| St Mary's Ilminster PCC Minster Rooms Fabric Paul Trust Petty cash |
As at 01/01/2024 As at 31/12/2024 86,816 44,664 1,015 591 15,033 18,657 15,674 21,260 - 16 |
| £118,538 £85,188 |
10 Liabilities (amounts falling due within one year)
| Liabilities (amounts falling due within one year) | ||
|---|---|---|
| Church maintenance Fees and collections to be paid out Church running costs Fundraising Receipts 3rd parties Minster Rooms refurbishment Food Bank Special collections (restricted) Pension contributions to be paid over |
2024 - - 1,080 - 967 - - 748 36 £2,831 |
2023 1,257 8,368 94 75 305 2,880 277 67 - |
| £13,323 |
13
ST MARY'S, ILMINSTER PCC
Notes to the Financial Statements (Continued)
For the Year Ended 31 December 2024
11 Funds
11a Analysis of Restricted Funds
The following restricted funds are included within net current assets:
| 11 11a |
Funds Analysis of Restricted Funds The following restricted funds are included within net current assets: |
||
|---|---|---|---|
| 11b | Bells Children and Families Life Leader Community Outreach Foodbank Homework Club Ilminster Parish Emergency Fund LM Taylor Bequest deposit (for maintenace of fabric) Maintenance of the fabric of the Church Meditation Memories Café Minster Rooms upkeep and maintenance Music and audio-visual Small project donations Simpson Youth Analysis of Transfers Between Funds The following transfers took place during the year: |
2024 2,048 11,949 49 12,042 1,499 975 5,457 8,180 2,550 1,480 7,027 305 4,986 313 1,656 £60,516 |
2023 1,711 11,949 49 12,065 1,499 965 5,457 16,105 2,452 1,299 8,114 305 4,986 313 1,241 |
| £68,510 | |||
Small project donations Simpson Youth Analysis of Transfers Between Funds The following transfers took place during the year: |
4,986 313 1,656 £60,516 |
4,986 313 1,241 £68,510 |
||
|---|---|---|---|---|
| Total transfers (from)/to funds Adjustments to bring funds to correct closing position |
Unrestricted 3,241 |
Restricted (3,241) |
Endowment - |
|
| 3,241 | (3,241) | - |
14
THE PAROCHIAL 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 2024 as set out on Pages 5 to 14.
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:-
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Examine the Accounts under Section 145 of the Charities Act,
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To follow the procedures laid down in the general Directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act), and
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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 from the Trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the Accounts present a "true and fair" view. 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:
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accounting records were not kept in accordance with Section 130 of the Charities Act; or
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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.
Signed ……………………………………………..
Name Gemma Crabb FCCA
Address
Old Bank Building East Street Ilminster TA19 0AJ
15