Registered Charity No. 1134703 PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON REPORT ANDACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS Pages Trustees Report Independent Examiners Report Statement of Financial Activities Statement of Financial Posltion Notes to the Accounts 10-21
PAROCHIAL CHURCH COUNCIL OF sr ANDREW'S. CULLOMPTON TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2024 The Trustees of the charity submit their annual report and financial statements for the year ended 31 December 2024. The Trustees have adopted the provision of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charities" in preparingthe annual report and financial statements of the charity as well as complying with the statutory requirements of the governing document. Legal and Administrative Information St Andrew's Church is situated in Church Street, Cullompton. It is part of the Diocese of Exeter within the Church of England. The charity is independently registered with the Charity Commission - number 1134703. Registered Office St Andrew's Church Office, Cullompton Community Centre, Pye Corner, Cullompton EX15 IJX Trustees- Parochial Church Council Members Rector: Curate.. Rev. Edward Hobbs Rev Marilyn Sanders (to 20 October 20241 th Church Wardens: Joanne Bailey I to 15" April 2024) th Peter Lawton {from 15 April 2024) Ed Thompson- also PCC Lay Chair Treasurer: Chris Cozens Elected Members: th Joanne Bailey (to 9 September 2024) Adam Brooks Tony Bryant Philip Cornish Chris Cozens Karen Deare Steve Foster Sarah Robinson (to 14 April 2025) Sarah Stuchbery Judy Wincott (to 14 April 20251 th th th Bethany Handford (from 14 April 2025) th Trudy Miller (from 14 April 2025) th Dorcas Moore (from 14 April 2025) Deanery Synod Richard Buzzacott (from 15 April 20241 Keith Rushforth Martin Smith Sally Wilson Ex-officio PCC members Diocesan Synod: None
PAROCHIAL CHURCH COUNCIL OF sr ANDREW'S. CULLOMPTON TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2024 Structurep governance and management Parochial Church Councils {PCCs) are charities, which are governed by two pieces of Church of England legislation, called Measures. These are: l. the Parochial Church Councils (Powers) Measure 1956 as amended. This defines the principal function, or purpose, of the PCC as'promoting in the parish the whole mission of the Church" and 2. the Church Representation Rules {contained in Schedule 3 to the Synodical Government Measure 1969 as amended). The method of appointment of PCC members is set out in the Church Representation rules. At St Andrew's the PCC comprises of the Rector, Associate Minister, Church Wardens, Curate, Deanery Synod members, "ordinary" members and any ex-officio members (such as Diocesan Synod or General Synod). The Deanery Synod members and "ordinary" members are elected by church members who are on the Church Electoral Roll. PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including how the funds of the PCC are to be spent. The PCC meets at least monthly. The Senior Leadership Team {SLT) continue to meet tri-weekly to act on behalf of the PCC and present proposals, reviews and policies forthe PCC. as a whole. to approve and ratify. The SLTcomprises of the Rector, the curate, 2 Church Wardens (l of whom is also lay chairl, Treasurer, and one additional PCC member who is elected to SLT by the PCC. The town of Cullompton is set to more than double in size by 2033 and the PCC continue to look at how we "do church" in a variety of non-church settings and in particular how we might engage with people in new community facilities. Aims and purpose: St Andrew's Parochial Church Council IPCC) is responsible for co-operating with the Rector, Rev. Edward Hobbs, to promote the whole mission of the church- pastoral, evangelical, social and ecumenical, in the ecclesiastical parish of Cullompton and as part of the Mission throughout the Culm Valley. It also supports work within the Cullompton Deanery and the wider mission of the Diocese of Exeter. Objectives and activity The objectives of the PCC are summed up in the simple words "Revealing the heart of Jesus in the heart of our community" This underpins all our activities. The PCC, with the Rector, oversee worship throughout the parish, aiming to meet the needs of the congregations, and also reaching out intentionally into the community. As austerity continues to impact local service delivery the "gaps" are increasing, and the church has a role to play in providing SUPPOrt and services. The planning of activities for the year satisfied the Charity Commissioners, guidance on public benefit and specifically the guidance on charities for the advancement of religion. In order to make all this possible the PCC continued the necessary repair and maintenance of St Andrew's Church, the Community Centre and its immediate surroundings. Following on from our quinquennial in- spection, our team continues working on prioritising the various tasks we will need to do. In the meantime we have progressed some minor repairs to the south roof lead, and a temporary repair to the tower roof (this will need more substantial work in the future). We are also looking at an issue with one of the small pinnacles on the tower, and what we might need to do with that.
PAROCHIAL CHURCH COUNCIL OF sr ANDREW'S. CULLOMPTON TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2024 Achievements and performance Rector Edward Hobbs worked closely with the wardens, the senior leadership team, the wider staff team and the church family to promote and deliver the objectives mentioned above. Every Sunday provided opportunities for worship, prayer and praise. l am pleased to report that in terms of our adult attendance we have now largely recovered from the effects of Covid. Children and young people's numbers continue to lag behind a little. During the year we held 2 infant baptisms, 3 dedications, 4 adult baptisms, 2 marriages, and 11 funerals, of which 9 were in church. Communion was taken to a number of adults who are housebound or locally in Care Homes when restrictions allowed. Around 200 church members attend Homegroups, some weekly, some fortnightly, to socialise, enjoy suppers, pray, and study the Bible, this has increased over lockdown as people have sought out help and support. In 2024 the Church Electoral Roll was 238 (the same as 20231. Our declared participation number to the Church on England for 2024 was 308157 under 18} {2023: 292 {571). Our Christmas and Easter services.... attendance over Easter 35013091... Advent 1435 {565}... Christmas 1094 {iiooi. Youth, Children and Families Ministry We have now recruited Darren Hill as our Children, Youth and Families Pastor {full-time), who began in this role in August 2024, and Kim Brooks as the Children's & Families Worker Ipart-time, term-time only) starting in September 2024. We are artively seeking to recruit a SWYM Intern (full-time), with this role commencing in September 2025. Youth Our youth work, sadly, is still recoveringfrom COVID-19 and from having no youth worker until summer 2024, with participation steadily increasing. In the last 12 months, the youth attended a weekend retreat in March. Our regular younger youth sessions are held on Sunday mornings and have now been expanded to include ages up to 17, providing more opportunities for youth to engage in Christian teachings. Older youth sessions are now open to school years 8-13, meeting on the l and 3 Sundays. We are currently looking at the Youth Alpha series, and when this is completed, we will look at each book of the bible, giving an overview to aid in their reading and learning. Additionally, our Youth Social is now called the Friday Night youth meeting on the I" and 3 Fridays; this group will shift to a fortnightly schedule starting in September, with plans to move to weekly meetings when more volunteers are recruited. Children and Families Ministry Our children and families, work is still recovering post-COVID-19, and we had no Children & Families worker until late autumn 2024. The toddlergroup meets weekly (during term time only), headed up by Kim, with two sessions on a Monday, Sunday school groups weekly, and an all-age service monthly. Assembly opportunities have increased, with Darren, Kim, and Ed H leading fortnightly. We have also strengthened our community connection by having Cullompton Pre-school and St Andrews School hold their Christmas services with us, Cullompton Community College hosting a Christmas concert, and arranging visits to the church for the Cullompton Scout Group and St Andrews School.
PAROCHIAL CHURCH COUNCIL OF sr ANDREW'S. CULLOMPTON TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2024 Community engagement/local mi55ion School Pastors- twice a week on our local secondary school, offering pastoral support and a listening ear. Coffee morning - every Friday - now also serving a community walking group. This has been followed in winter months by a soup lunch, seeking to senie those in food poverty and those needing a warm space. Silvertops- meeting fortnightly- over 60's social and activities. Keystone work group, job club, women's group, life group, with more than 100 people engaging with keystone in the last year. After a large funding bid was secured a couple of years ago, we are now looking to draw in new funds as that money depletes, and also to increase the staff hours. People Matter- the food bank continued to funrtion throughout, and continues to be well used. Debt centre- we continue to operate a debt centre in partnership with CHAT. YMCA chaplaincy Cullompton. we continue to oversee regular chaplaincy into a couple of hostels in and near The Alpha Course- has taken place again. Global Mission St Andrew's continues to give away IO% of its gifted income to support mission activities which is managed by an Outward Giving Team. We give to local, national and international charities, with a particular focus on forging longer-term relationships with these groups. Church Building The church continues to be open daily for a steady stream of visitors, and people wanting space for quiet and prayer. Cullompton Community Centre St Andrew's Church owns the building of the Cullompton Community Centre, located in the church grounds. The building is leased to Cullompton Community Centre {Operations) Limited, a wholly owned trading subsidiary company of St Andrew's. The company shares are held in trust by the Church Wardens, who at the year-end were E Thompson and P Lavrton. The long-term aim is for profits from this company to be used to maintain and improve the building and to be donated as revenue for 5t Andrew's Church. Financial Review: Total receipts of Unrestricted Funds amounted to £261,436 which is a decrease from the £286,179 received in 2023. During 2024 a further £1,045 12023 £1,079) was received towards Designated Funds. Restricted income amounted to £40,758 {2023; £43,224) and our total for 2024 was £303,23912023 £330,482). This shows a decrease of £27,243 to income overall.
PAROCHIAL CHURCH COUNCIL OF sr ANDREW'S. CULLOMPTON TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2024 Total expenditure for Unrestricted Funds was £243,05812023: £260,573). After transfers between funds the General Fund shows deficit for the year of £950. Designated Funds has a deficit for the year of £220 and Restricted Funds a Surplus of £1,030 for the year. Total expenditure for 2024 was £303,379 {2023 £ 341,6411 showing a decrease in expenditure of £38,262 over 2023. The final figure for 2024 is a deficit of £140 across all funds (2023 £11,159 and 2022 deficit £25,613). The transfers between funds include a sum of £19,000 (2023: £19,415) to the PCC Designated Outward Giving Fund from the General Fund with further details in note 9 below. We committed £132,00012023 £121,000) of our expenditure in Common Fund payments to the Diocese. 2024 has had it difficulties with the financial crisis and increasing costs and overheads. Throughout the year we worked hard to stabilise our income, with great support and response from our congregation. We have worked hard to manage our expenditure in 2024, the ever-increasing costs of overheads need careful consideration going into 2025. Reserves Policy The PCC aims to maintain a balance in General Reserves equal to 6 months of budgeted expenditure. For 2024 this amounted to an aim of £143.223 based on the 2025 budget. however actual reserves at 31 December 2024 total £68,198, representing only 3 months budgeted expenditure. The policy changed from 2 months expenditure in 2018 to the current level. We are still building up this reserve. The PCC has decided to increase the reserve up to 6 months of budgeted expenditure to protect against unexpected costs or loss of income, so that we can protect our increasing staff team and continue to meet all our commitments in regard to support for other groups through outward giving. The PCC continued to watch expenditure closely during 2024 and will continue to do so in 2025, with measures being put in place to maintain if not increase general fund reserves. The PCC also hold a number of designated reserves which are set aside for particular projects, details of these reserves are at note 21. The most significant of these is the Property Fund which represents the carrying value of the Community Centre building and is therefore designated in a separate reserve as not freely available to spend. In addition, the PCC receives monies for various projects where the terms of the funding are restricted. At the year end the restricted fund reserves total £52,289. This represents the funds received that have not yet been spent on the specified project. Details of these reserves and the projects they will be spent on is shown at note 22 below.
PAROCHIAL CHURCH COUNCIL OF sr ANDREW'S. CULLOMPTON TRUSTEES, REPORT YEAR ENDED 31 DECEMBER 2024 Trustees. responsibilities in relation to the financial ststements The trustees are responsible for preparing the Trustees, Report and financial statements in accordance with applicable law and UK Accounting Standards. A financial statement which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity is required each year. In preparing the financial statements the trustees are required to: select suitable accounting policies and then apply them consistently observe the methods and principles of the Charities SORP make judgments and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to and departures disclosed and explained in the financial statements and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain and ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detertion of fraud and other irregularities. 0710712025 The trustees, report was approved by the PCC on ....................................... 2025 and signed on its behalf: fhbb Edward Hobb5 lJul T. 2025 LO:.23 GN1T+!l............. Rev. Edward Hobbs, Rector CfjoAp.nAiAul/..AQ25.ALA7.GPI.T+ JJ...................... Mr Christopher Cozens, PCC Treasurer
PAROCHIAL CHURCH COUNCIL OF sr ANDREW'S. CULLOMPTON Independent Examinerfs Report on the Unaudited Financial Statements to the Trustees I report to the trustees on my examination of the financial statements of PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON ("the chariW'I for the year ended 31 December 2024 set out on pages 8 to 21. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the chariws financial statements carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515){b) of the Act. Independent Examiner's Statement The charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England & Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act; or the financial statements did not accord with the accounting records; or the financial statements did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thatthe accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Ma4*hew webb Matthew Webb (Jul 7, 202J 14.31 GI,IT+i;, 0710712025 Matthew Webb FCA Azets Audit Services Lime Court Pathfields Business Park South Molton Devon, EX36 3LH Date:
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Note Unrestrirted Designated Restrirted Funds Funds Funds Total 2024 Total 2023 Incoming Resources Receipts from Donors Planned giving Income tax recovered Other collections and donations Grants received Total Donations and legacies Receipts from Church Activities Investment income Community Centre lease income Other sundry income Total incoming resources 191.439 38,499 10,324 8,874 3,715 13,631 14,538 40,758 200,313 42,214 23,955 14,538 281,020 10,269 2,873 3,000 6,077 303.239 195,652 43,746 32,881 29,200 301,479 18,812 2,254 3,000 4,937 330,482 240,262 9,224 2,873 3,000 6,077 261.436 1,045 16 1.045 40.758 Resources Expended Church Activities Diocesan Common Fund Outward giving Services and other activities Other governance costs Total resources expended 132,000 132,000 11,491 158,918 970 303,379 121,000 19,402 200,509 730 341,641 19 11,491 8,047 110,088 970 243,058 40,783 19,538 40,783 Net incoming/(outgoing} resources before transfers 18,378 118,493) (25) (140) (11,159) Transfers between funds (19,328} 18,273 1,055 Net movement in funds (950) 1220) 1,030 (140) (11,159) Funds brought forward at l January 69.148 335.776 51,259 456,183 467,342 Funds carried forward at 31 December 68,198 335,556 52,289 456,043 456,183
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 Unrestricted Designated Restricted Funds Funds Funds Total 2024 Total 2023 Note Tangible Fixed Assets io 5,547 3(Kl,000 305,547 311,236 Current assets Debtors due within l year Loan to CCC Ops Ltd due after l year Cash at bank and on hand Total current assets li 12 13 17,110 75,0(Kl 17,104 109,214 838 17,948 75,000 104,111 197,059 19,400 75,000 115,568 209,968 35,556 35,556 51,451 52,289 Creditors: Amounts falling due within one year Short term creditors and receipts in advance 14 7,711 7,711 23,169 Net current assets 101,503 35,556 52,289 189,348 186,799 Total assets less current liabilities 107,050 335,556 52,289 494,895 498,035 Creditors: Amounts falling due after one year Long term creditors 15 38,852 38,852 41,852 Net assets 68.198 335.556 52.289 456,043 456,183 Represented by General unrestricted funds Designated funds Restricted funds 68,198 68,198 335,556 52,289 69,148 335,776 51,259 21 22 335,556 52,289 Total Funds 68,198 335,556 52,289 456,043 456,183 07107/2025 Approved by the PCC on ........................ 2025 and signed on their behalf by:_ Itobb Edy4.kLohk51l.7,2o25.l2IGM[tl1.. Revd Edward Hobbs, Chair Ccozens i Jul 7, 2025 12..37 GMT+lJ........ Mr Christopher Cozens, PCC Treasurer
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note l Accounting policies a) Basis of preparation of financial statements The PCC is a public benefit entity within the meaning of FRSIO2. 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, and with the Regulations true and fair view" provisions. The financial statements have also been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and Accounting and Reporting by Charities.. Statement of Recommended Practice (FRS 102) (effective October 2019} - (Charities SORP {FRS 1021 (second edition - October 201911. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The accounts present the results of the Charity only and do not include the results of the trading subsidiary, as the group is small, and the charity is therefore exempt from preparing consolidated accounts. b) Asset Policy Fixed Assets purchased for continuing use by the charity for the furtherance of its objectives are capitalised at cost (where cost is over £1,000) and depreciated over their useful economic lives. Property comprises the in- vestment property of the Community Centre which is leased to the church's trading subsidiary and as such has been transferred to fixed assets at cost less accumulated impairment losses at the date it was brought into use. c} Depreciation Tangible fixed assets are written off over their useful economic lives as follows- Office equipment- 25% reducing balance Fixtures & f ittings - 25Yo reducing balance Plant & Equipment- 5 years straight line No depreciation is provided on buildings as the currently estimated residual value of the properties is not less than their carrying value and the remaining useful life of these assets currently exceeds 50 years, so that any depreciation charges would be immaterial. An impairment review is carried out at each year-end and any result- ant loss identified included in expenditure for the year. d) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designed for other purposes. Restricted funds are donations which the donor has specified are to be solely used for a particular area or work. e} Incoming Resources All incoming resources are included in the SOFA when the charity is legally entitled to the income the trustees are virtually certain they will receive it and the amount can be quantified with reasonable accuracy. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Grants and donations are only recorded in the SOFA when the charity has unconditional entitlement to the resources. Investment income is included when receivable. io
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 f) Resources Expended Expenditure is recognised on an accrual basis as a liability is incurred. The charity is registered for VAT and all expenditure excludes this where appropriate. Costs of generating funds comprise the costs associated with at- tracting voluntary income. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirement of the charity and include the examination fees and costs linked to the strategic management of the charity. g) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepay- ments are valued at the amount prepaid net of any trade discounts due. h) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. i) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. j) Financial instruments The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised attransaction value and subsequently measured at their settlement value. k) Lease The PCC has leased the Community Centre to Cullompton Community Centre (Operations) Ltd for 25 years from 13 August 2012 at a peppercorn rent and with a premium of £75,000. The premium is being released as income into the accounts over that period on a time related basis. l) Concessionary Loans Concessionary loans made are initially recognised in the statement of financial position at the amount paid. Where interest is payable, the carrying amount has been adjusted to reflect the accrued interest. To the extent that any loan becomes irrecoverable. and impairment loss would be recognised in the statement of financial activities. Further details of the loan arrangement can be found at note 12. li
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 2 Grants Received Unrestrirted Designated Restrirted Funds Funds Funds Total 2024 Total 2023 Exeter Diocese Devon County Council Devon Historic Churches Trust Viscount Amory's Charitable Trust The Willats Trust Queen Anne's Gate Foundation Northcott Devon Foundation Cullompton United Charities Other 5,000 6,700 1,500 1,038 1,038 1,000 2,500 4,000 1,000 5,000 1,000 2,500 4,000 1,000 5,000 15,000 1,000 29,200 14.538 14,538 Note 3 Receipts from Church Activities Unrestricted Designated Restricted Funds Funds Funds Total 2024 Total 2023 Wedding and Funeral fees and charges Men's and ladies, ministries and Silvertops club income Children's work income Youth work income 3,953 3,953 8,324 1,898 2,221 1,152 9,224 1,045 2,943 2,221 1,152 10,269 1,955 7,908 625 18,812 1,045 Note 4 Sundry income The sundry income of £6,077 {2023.. £4,937) includes £3,181 car park rental income (2023.. £3,150) Note 5 Common Fund In 2024 a contribution of £132,00012023: £121,000) was paid to the Diocese of Exeter in respect of the Diocesan revised assessment for the year of £142,527 (2023: £137,738). Note 6 Staff Costs Staff costs which are included within church activities expenditure were: 2024 2023 Wages and salaries Redundancy Social security costs Pension Contributions (defined contribution scheme) 69,487 432 91,414 97 1,431 92,942 819 70,738 Average number of employees {headcount) There were no employees who received total employment benefits of more than £60,000 in the current or preceding year. Pension contributions have been made to a defined contribution scheme. 12
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 7 Church artivities- Services and other artivities Unrestrirted Designated Restrirted Funds Funds Funds Total 2024 Total 2023 Church services, upkeep and administration: Clergy expenses Worship, organist and services Bell expenses Church maintenance and running costs Church insurance Administration Office rent, room hire and cleaning Loan interest and charges Depreciation Miscellaneous expenses 2,202 2,124 2,202 5,995 87 12,731 11,958 41,713 7,980 103 6,736 1,920 91,425 1,105 2,046 10,236 926 18,367 9,169 39,858 7,980 719 7,028 4,412 100,741 2,668 3,871 87 82 12,649 11,958 41,713 6,980 1,000 103 6,736 1,828 86,190 1,105 92 5,132 103 Wedding and funeral expenses Men's and ladies, ministries and Silvertops club costs Children's work Youth work Keystone project expenditure People Matter expenditure 3,907 5,097 13,789 1,039 1,634 797 3,045 20,149 10,026 40,783 6,580 5,894 16,834 27,054 10,026 158,918 3,573 29,904 20,454 33,006 10,163 200,509 6,905 110,088 8,047 Note 8 Governance costs Unrestricted Designated Restricted Funds Funds Funds Total 2024 Total 2023 Independent examiners fee for the year under accrual 1450 (480) 970 1450 14801 970 950 12201 730 13
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 9 Fund Transfers Unrestricted Designated Restricted Funds Funds Funds Transfers between funds in 2024 Transfer to reflect tangible fixed assets purchased Internal fund transfers Transfer for unspent bell ringi ng fees to bell fund Designation of funds for Christmas hospitality Transfer to reflect Outward Giving donations made Transfer to Keystone £7,500 {both Designated Funds) Contribution towards Debt Centre Transfer to reflect agreement to give IO% of regular giving income to charity Transfer to Outward Giving Fund (55) (273) 55 273 {I,000} 1,000 {19,000) (19,328) 19,000 18,273 1,055 Note 10 Tangible Fixed Assets Plant & Office Equipment equipment Fixtures & Fittings Property Total Cost As at l January 2024 Additions As at 31 December 2024 300,000 34,702 1,047 35,749 5,935 21,936 362,573 1,047 363,620 300,000 5,935 21,936 Depreciation As at l January 2024 Charge forthe year As at 31 December 2024 23,729 6,670 30,399 5,868 17 5,885 21,740 49 21,789 51,337 6,736 58,073 Net Book Value As at 31 December 2024 300,000 5,350 50 147 305,547 As at 31 December 2023 300,000 10.973 67 196 311,236 The property comprises the Community Centre which is leased to the charity's wholly owned subsidiary trading company Cullompton Community Centre (Operations) Limited. See note 16 below regarding the lease. The property is included as cost less accumulated impairment losses on the date construction was completed in 2011. The Trustees have not obtained a market valuation of the property as the costs of doing so outweigh the benefits, however the property has an insurance value of £2.500.000. 14
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 11 Debtors and prepayments Unrestrirted Designated Restrirted Funds Funds Funds Total 2024 Total 2023 Debtors Trade debtors Other debtors VAT recoverable Short term loan to trading subsidiary 297 4,247 232 10,000 14,776 2,334 17.110 297 5,085 232 10,000 15,614 2,334 17,948 1,739 6,187 2,051 838 838 9,977 9,423 19,400 Prepayments and accrued income 838 Note 12 Long-term interest-free loan to Cullompton Community Centre (Operations) Limited The PCC has granted a long-term interest free loan of £75,000 to its wholly owned trading subsidiary Cullompton Community Centre (Operations) Limited {CCC (Ops) Ltd). The loan is repayable when the Centre is operating at a surplus following repayment of the loan granted from the New Building Fund. The New Building Fund loan was fully cleared in 2021. Note 13 Cash at bank and in hand Unrestricted Designated Restricted Funds Funds Funds Total 2024 Total 2023 General fund Designated funds: Roof repairs and maintenance Loan interest and charges Outward giving fund Keystone Lighthouse fund Car park maintenance Christmas hospitality Silvertops fund Restricted funds: Bell fund Debt Centre fund Children's work fund Mission and growth Keystone Operational costs Repairs and maintenance fund People Matter fund Restoration fund Support fund Uganda trip fund Youth & children's projects Youth Social Fund 17,104 17,104 30,605 2,779 2,779 2,779 103 25,622 5,206 138 1,014 24,631 5,801 138 1,014 273 920 24,631 5,801 138 1,014 273 920 914 5,028 560 12,670 5,028 560 12,670 3,414 560 12,670 3,871 3,330 1,464 10,352 819 14,659 5,904 (51 1,464 10,352 819 14,659 5,904 15) {506) 17,324 5,904 {214) 800 2,034 115,568 17,104 35,556 51,451 104,111 15
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 14 Creditors falling due within one year Unrestrirted Designated Restrirted Funds Funds Funds Total 2024 Total 2023 Trade creditors Other creditors Tax and social security due Monies held on behalf of coffee morning committee Accruals Bank loan repayable in one year Income received in advance 1,681 1,681 6,417 2,065 251 676 676 623 2,246 623 2,246 406 6,783 5,437 1,810 23,169 2,485 7.711 2,485 7.711 Note 15 Creditors falling due after one year Unrestricted Designated Restricted Funds Funds Funds Total 2024 Total 2023 Deferred lease (note 16} 38,852 38,852 41,852 Note 16 Lease of the Community Centre to Cullompton Community Centre (Operations) Limited The PCC has leased the Community Centre to CCC (Operations) Ltd for 25 years from 13 August 2012 at a peppercorn rent and with a premium of £75,000. The premium is being released as income into the accounts over that period on a time related basis. 2023 2023 Balance at l January Release to income for the year Balance carried forward at 31 December 41,852 13,000) 38,852 44,852 13,000) 41,852 Note 17 Trustee remuneration and expenses The charity trustees were not paid or received any other benefits in their capacity as Trustees during the year (2023: £Nill. From August 2024 Trustee S Stuchbery was employed by the charity as Media and Communications for which she received remuneration of £2,060, This was paid under the provisions of the PCC Governing Document. Churchwarden and Trustee J Bailey was employed by the Church's wholly owned trading subsidiary Cullompton Community Centre (Operations) Limited as Facilitates Manger until l August 2024 for which she received remuneration of £9,400 {2023: E14,7901 and pension contributions of £18712023: £257) in the year ended 31 December 2024. This was paid under the provisions of the PCC Governing Document. No trustees were reimbursed any expenses during the year (2023: £nil). 16
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 18 Related Party Transactions Cullompton Community Centre (Operations) Limited (referred to as CCC (Ops) Ltd). is a wholly owned trading subsidiary company of St Andrew's PCC. The company shares are held in trust for St Andrew's by the Church Wardens, th who at the year-end were E Thompson and Peter Lavrton (from 15 April 20241. During the year the following transactions have taken place with the between the church and the company- The church has leased their freehold property of the Community Centre to CCC {Ops) Ltd for 25 years from 13 August 2012. An up-front premium was paid at that time of £75,000, which is being released over the term of the lease- see note 16 above. During the year £3,000 {2023- £3,000) has been recognised as income and at the year end the deferred lease premium recognised on the balance sheet amounted to £38,85212023- £41,852). In addition, an annual peppercorn rent is receivable, £20 has been included in other income (2023- £20}. During 2023 the Church paid rent for office space, cleaning and room hire charges for two years to 31 December 2024 of £15,960. Rent expenditure recognised in the accounts amount to £7,98012023: £7,980) and at 31 December a prepayment of £nil12023: £7,980) has been included on the balance sheet within debtors due within l year. In addition the Church has paid £40012023: £1,450) of shared IT support costs and £22512023: £366) of shared training costs to CCC (Ops) Ltd. The Church has received £2,80712023: £1,113) in respect of recharged costs including insurance from CCC (Ops) Ltd. The Church has also made a contribution to CCC {Opsl Ltd of £Nil (2023: £2,600} towards the cost of lift repair work within the Community Centre building. As part of the initial building of the Community Centre and set up of the trading company, the PCC granted two loans to CCC {Ops) Ltd. The first from the New Building Fund was settled in 2021. The second loan is a long-term interest free loan of £75,000 to CCC {Opsl Ltd. The loan is repayable when the Centre is operating at a surplus after repayment of the loan granted from the New Building Fund. At the balance sheet date £75,000 (2023: £75,000) remains due to the church and is included on the balance sheet as a debtor due after more than one year as the loan is not expected to be repaid within the next twelve months. During the year the charity has advanced a further short term working capital loan to the trading company of £10,000, this amount remains outstanding at 31 December 2024 and is included within debtors due within l year on the balance sheet. The loan is interest free. In 2022.. £400 of electrical services was provided to the Church by a trustee, this amount remains unpaid and is included within trade creditors at 31 December 2024 and 2023. The spouse (M Bailey) of one of the Trustees (J Bailey) was employed by the Church until I September 2024 and received remuneration in the year ended 31 December 2024 of £7,372 (2023: £7,477). Note 19 Designated Outward Giving Fund During the year, the Outward Giving Committee distributed £19.991 {2023: £23.4021 of grants to various causes, £11,491 (2023: 19,4021 paid to third parties and £8,500 (£4,000) transferred to Church run projects. The fund balance carried forward of £24,631 {2023- £25,622) comprises the designated IO% of general fund regular giving receipts from donors of £19,000 plus an underspend from the prior year of £5,63112023- £19,415 plus an underspend from the prior year of £6,207). Note 20 Taxation As a charity, the Parochial Church Council of St Andrew's Cullompton is exempt from tax on income and Eains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are appl led to its charitable objects. No tax charges have arisen in the charity. 17
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 210esignated Funds- continued Roof Repairs and Maintenance- Funds set aside by the PCC to fund the repairs required to the roof and other upcoming maintenance costs following the quinquennial review. Car Park Repairs - Funds set aside towards planned maintenance of the car park. Loan Interest and Charges- To support the church through the effects of the pandemic the Church has taken out a bank loan which provided grant funding a5 part of the arrangement. Part of this loan funding has been set aside to cover the finance costs of the loan element of the funding. Keystone (Jobs Club) - This is a project to support local people to find vocational, educational, and social opportunities. Lighthouse - Funds set aside to support the Lighthouse in depth prayer ministry of the church. Outward Giving- The PCC designate IO% of general fund receipts from donor5 each year to be used to support rnission activities which is managed by an Outward Giving Team. The church gives to local, national and international charities. with a particular focus on forging longer term relationships with these groups. Silvertops- Funds set aside to support the Silvertops club for senior people. Property- The balance of the designated fund represents the carrying value of the property. Christmas Hospitality- Funds set aside towards annual community Christmas dinner 19
PAROCHIAL CHURCH COUNCIL OF ST ANDREW'S, CULLOMPTON NOTES TO THE ACCOUNTS- YEAR ENDED 31 DECEMBER 2024 Note 22 Restricted Funds - continued Bell Fund This fund comprises donation and grants towards the upkeep and maintenance of the church bells. Debt Centre Fund Fund to support St Andrews Church Debt Centre working with CHAT. Children's Work Grant Monies received to support the activities of the Children's Ministry. Keystone Monies received towards the Keystone project which is a project to support local people to find vocational, educational and social opportunitie5. The balance mainly represent5 grant funding carried forward into 2022 to fund staff salary costs. Mission and Growth Diocesan grant with a focus on growth in children and youth ministry. Operational Costs Fund set aside for donation form persons wishing their giving is directed directly to the running and operational cost of St Andrews Church. People Matter Fund People Matter is a group at St Andrew's Church which organise the food bank that serves Cullornpton and the surrounding area. The fund balance is carried over into the new year to be used for general running costs and expenses. Repairs and maintenance Fund This fund comprises donation and grants given towards the upkeep and maintenance of specific church property andlor equipment including the Defibrillator. Restoration Fund This fund comprises donation and grants towards the upkeep and maintenance ofthe church building. Uganda Trip Fund Monies given towards a mission trip to Uganda. Youth and Children's Projects This fund comprises donation and grants given towards specific projects or activities for either youth or children. Support fund This fund is set up to hold donation to support others to attend trips, training and other activities as agreed by the PCC. 21