## 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:- - Examine the Accounts under Section 145 of the Charities Act, - To follow the procedures laid down in the general Directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act), and - To state whether particular matters have come to my attention. ## Basis of Independent Examiner's Statement: My examination was carried out in accordance with 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: - accounting records were not kept in accordance with Section 130 of the Charities Act; or - 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