2021-12-31-accounts

Parochial Church Council of St Mary Magdalene, Taunton

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ANNUAL REPORT and ACCOUNTS

2021

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We aim to know Christ better and to make Him better known

REFERENCE AND ADMINISTRATIVE INFORMATION

Name:

The PCC of St Mary Magdalene Church, Taunton

Location: St Mary Magdalene Church, Church Square, Taunton TA] ISA

Correspondence Address: PCC Secretary c/o Parish Office, Church Square, Taunton TA1 1SA e-mail: [e-mail] wwww.stmarymagdalenetaunton.org.uk

PCC Membership as at 31 December:

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Reverend Tobie Osmond - Chair Reverend Louise Bale - Curate (Non-Stipendiary) Nigel Birkett - Vice Chair & Churchwarden Margaret Laver - Churchwarden & PCC Secretary Valerie Gaskel] - Churchwarden Professor Roger Trigg - Deanery Synod Jack Bayliss - Deanery Synod Claire Mort Sandra Hall Cheryl Birkett Julia Trigg* Alan Ladd Nadia Atherton Stephen Jenkins Margaret Allen George Staple Debbie Whitaker Libby Webber

*Standing Committee members

Legal Advisor - Andrew Lewis Honorary Treasurer (resigned 23 May 2021) - Christopher Mainstone Acting Treasurer (appomted 23 May 2021) - Nigel Birkett

Day-to-day Management - Standing Committee (Management Team)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Parochial Church Council (PCC)

The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. In accordance with statute the PCC is registered with the Charity Commission under No. 1134818.

Appointment to the PCC

The appointment ofPCC members is governed by and set out in the current edition of the Church Representation Rules.

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PCC Organisation

The PCC meets at least 4 times a year. Each member is also a member of one of the 3 main Committees: Mission, Worship and Finance & Property. A Standing Committee comprising the Chair, Curate, Churchwardens, PCC Secretary and two representative members of the PCC, meets as necessary between PCC meetings.

CHAIRMAN’S REPORT Annual Report to APCM

Vicar

The Covid 19 Crisis has continued to affected almost every element of the church this year.

We are a Church ofEngland church at the heart of the County Town of Somerset in Taunton. We worship God, Creator, Redeemer and Sustainer, with a mission statement of “To know Christ better and make Christ better known.” This means that all we do draws us back to this at all times.

Things are beginning to return to normal, whilst there are things that we continue to do because of the crisis, I think Zoom meetings will stay in some form, particularly when people are not able to be present in a meeting for whatever reason. Most of our projects have been kickstarted, some have even been completed, particularly the Coffee shop conversion, and carpeting the building.

We have worked hard to try and keep things going as the church here in the centre of Taunton. I would also like to personally thank the Churchwardens (Nigel, Margaret and Valerie) and PCC and for all their work which meant things have been managed this year.

For the Management team (Louise, Julia and Jack), helping keep things on track and for all their support. The ministry team has taken on a very different look as people have stepped back, Daphne and Peter taking emeritus status as readers, Dennis, Martyn and Ben quietly continuing on as they can, and losing Nick to being ordained, but welcomed back Gwen and gained Dean and looking forward to welcoming Jamie in June as our new curate.

It has been amazing to welcome Duncan as Verger to the team of people that work behind the scenes to get things done, without whom so much just would not have been possible this year. A huge thanks to our project leaders Sandra Hall in the Coffee shop, Cheryl Birkett in the Bookshop, Miles Quick, Sandra Jordan, and this is where it gets complicated as there are so many people that organise and run things at St Mary’s, I want to thank you all for all you do. Readers, listeners, pray-ers, young and old(er?) alike.

Projects

Tower project, we have been able to put on hold for a little while, but it will rear its head again at some point.

St Mary Magdalene as a Taunton Minster, as I write this report it has already happened and we have had a wonderful few weeks serving the town, with some huge ideas of what we might do next. Lighting work to replace the defunct lighting in the building

Youth Hub and Youth and Children’s worker, on hold for the moment

We brought together a team to help with our communications and whilst there are still hiccups, we are working on making things easier for people to know what is happening. We are working hard with the many social media platforms as well as our regular printed media, the Today and Together publications and the teams that keep these running have been fantastic.

Worship

Central to all that we do is our worship. We want to offer a broad range of worship opportunities, from quiet 1662 Prayer Book Communion, through to modern, contemporary services of the word with a music group. All endeavouring to worship our God.

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We are very grateful to all that have looked after our children and young people over 2021 (and all the adaptions that have had to be made). Our aim is still to have a hub for them in the old vicarage garage. To strengthen the work that goes on here a dedicated sub Committee of the PCC have been recommended for this work, which includes Tekna, Voice and the many other things that happen.

St Mary’s has a strong musical tradition and we continue to be indebted to our Musical Director, Miles Quick for his inspirational leadership.

Lots of people volunteer at St Mary Magdalene to keep our church open and we are very grateful to our team welcomers and listeners. The.comments we receive in the visitor’s book and now on Facebook and our website are very encouraging.

Welcome and mission are strong components in our congregation, and this is only heightened by the many things that we hope will be able to start up again, including the Mothers’ Union, Just a Bite and The Breakaway group, aimed at parents and fun and fellowship.

Our bells have attracted all sorts of interest as we have used them to very different purposes over the years. Their accompanying us as we sing in the Church yard and Church Square may well continue at key points in the year. They sound wonderful and the viewing floor and sound controls are now in place.

The peregrine project continues to be successful, being able to view live pictures of their activities via a CCTV link. We had four eggs hatch, with four male birds surviving to adulthood in 2021 (four eggs again this year hatching at the moment!).

The Pastoral team worked very hard through 2021, co-ordinated by Margaret Austin, there are just too many to name that have been trying to stay in touch with members of the congregation, but all deserve our thanks.

It is hard reflecting back on 2021 because of what we continue to go through. But I have loved serving here, and I look forward to properly getting to know you all.

My loves continue to be my dogs, my wonderful, supportive and intelligent wife and our three great children. Outside of the work in this church I continue with my Masters (Theology, Imagination and Culture) trying to get my dissertation finished and my training work for the diocese with Curates coming, and running various training days, as well as work on the Diocesan Board of Education. My spare time continues to be focused on family, the Motorbike, and skiing (although dry slope at the moment, there is always the hope of getting back to snow!)

FINANCIAL REVIEW

Once again, the state of the finances has been largely dictated by the impact of the coronavirus pandemic with plate collection income falling by 75% from the pre-pandemic level, and overall giving fell to the lowest level for over 12 years.

In anticipation of our General Fund reserve being completely used up, in January we applied successfully to the National Lottery Heritage Culture Recovery Fund for a grant to enable us to keep the church open. We received £12,200 to cover 3 months general running costs and £33,500 to go into the General Fund Reserve. This was the lifeline we needed and with the café re-opening following completion of the first phase of re-ordering, including the opening up of the North Door, our income position began to improve.

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The café development, North Door work and removal of a block of pews was paid for by legacy monies accumulated for the purpose. However, the amount was not sufficient to cover phase 2, the extension of the servery. But two further legacies were then received, and the PCC unanimously agreed the servery work should go ahead. As this report is written, this work is complete and the café is once again open.

During the year we were unexpectedly challenged by the gradual failure of the church lighting. Originally re-lit some 9 years ago with the advertised selling point of ‘up to 60,000 hours of life’ we did not ever think we would need to replace lighting units after around 18,000 hours of use. Our contractor Enlightened vigorously pursued the matter with the manufacturer and although the failure was technically recognised and a significant cost reduction was achieved, we still had to find £39,000 to re-light the nave and north and south aisles.

Fortunately, with our specialist contractor Stracheys confirming an annual care and maintenance programme will enable us to defer major work on the whole tower, we were able to redirect the designated balance in the Tower Fund to help meet the cost of the streaming and sound systems and cover the re-lighting. Additional legacy funding has also enabled us to improve the lighting for the choir, re-carpet the church where it had becomea trip hazard and renew the threadbare carpet in the Upper Room.

Legacies are of course one-off receipts for which we are extremely grateful. They enable and encourage us to develop new mission opportunities as well as look after the fabric of our Grade 1 listed church for the benefit of the whole community of Taunton and visitors from far and wide. But they can never be a substitute for meeting the running costs of the church. Our General Fund budget for 2022 suggests we shall only be able to contribute around 50% of our Parish Share: £48,000 towards the total of £97,700 requested.

RESERVES POLICY AND FUTURE COMMITMENTS

Our General Fund reserve of £33,500 at the end of 2021 is wholly represented by the NLH Culture Recovery Fund grant received for that purpose. Whilst a further £67,000 was held at the year-end in the General Fund, this was wholly designated to cover the Phase 2 servery extension work. Over time, it is intended to increase our reserve to the £60,000 baseline set by the PCC by generating improved income streams.

Development of the Coach House in the churchyard to become a Mission Hub witha first-floor flat is an ongoing project. During the year the building was re-roofed, taking advantage of the best tendered contractor being onsite carrying out the first phase of the café and North Door works. The re-roofing cost including professional fees was wholly met from the fund restricted for the purpose. Grants are being sought toward raising a further estimated £170,000 required to complete the project.

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Parochial Church Council of St. Mary Magdalene, Taunton

Balance Sheet as at 31 December 2021

		2021	2020
	Note
FIXED ASSETS
Tangible	5	1,020	2,244
Investment		-	-
		1,020	2,244
CURRENT ASSETS
Stock		4,616	4,856
Debtors	6	17,755	13,610
ShortTerm Deposits		43,319	137,210
Cash at bankand’in hand		164,556	45,008
		230,246	200,634
		ae
LIABILITIES
Creditors -amounts fallingdue in one year	7	15,080	1,502
NETCURRENTASSETS		215,166	199,182
Total assets less current liabilities		216,186	201,426
Creditors - amounis falling due afterone year		-	-
TOTAL NET ASSETS		216,186	201,426
PARISH FUNDS	8
Unresiricted		186,775	159,838
Restricted		28,391	39,344
Coffee machine		1,020	2,244
		216,186	201,426

Approved by the Parochial Church Council on 10 April 2022

a) GLAM Reverend Tobie Osmond Vicar

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Parochial Church Council of St. Mary Magdalene, Taunton

Statement of Financial Activities for the year ending 31 December 2021

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|TOTAL|FUNDS| |Note|Funds|Funds|2021|2020| |INCOME| |Voluntary|Income|2{a)|157,099|12,864|169,963|126,243| |Activities|for|generating|funds|2{b)|25,609|2,778|28,327|25,944| |Church|Activities|2(c)|7,377|-|7,377|1,188| |Investing|activities|2(d)|123|1,679|1,802|3,700| |Extraordinary|items|2(e)|69,202|34,583|103,786|8,130| |Total Income|259,410|51,844|311,254|165,205| |EXPENDITURE| |Church|Activities|3{a)|127,784|320|128,104|136,902| |Activities for|generating|funds|3(b)|7,072|3,213|10,285|9,460| |Extraordinary|items|3(c)|97,377|59,264|156,641|41,925| |Total|Expenditure|232,233|62,797|295,030|188,287| |Net Income|before|other recognised|gains|and|losse|27,177|(10,953}|16,224|(23,082)| |Revaluation|of stock in the Bookshop|(240)|-|(240)|(46)| |Net Movement|in|Funds|26,937|(10,953)|15,984|(23,128)| |Balances|brought forward|1|January 2021|159,838|39,344|199,182|222,310| |Balances|carried forward|31|December|2021|186,775|28,391|215,166|199,182|

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4 z }| FORCHARITY ENGLAND COMMISSION AND WALES | Independent examiner'saccounts report on the
Section A Independent Examiner's Report
Report to the trustees/ .| THE PARocHIAC GHEecH of THE ECCLEEWET CA
members of Pres of STMAEY MAGaeNEs, Thunrtor
On accounts for the year pecem Ree Charity no
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| report to the trustees on my examination of the accounts of the above
charity (“the Trust”) for the year ended ‘
Responsibilities and As the charity's trustees, you are responsible for the preparation of the
basis of report accounts in accordance with the requirements of the Charities Act 2011
(“the Act’).
! report in respect of my examination of the Trust’s accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, |
have followed all the applicable Directions given by the Charity Commission
under section 145(5)(b) of the Act,
Independent [The charity’s gross income exceeded £250,000 and | am qualified to
examiner's statement applicableundertake the examination by being a qualified memberof [insert name of
listed body]]. Delete [ ] if not applicable.
| have completed my examination. | confirm that no material matters have
come to my attention in connection with the examination (other than that
disclosed below ) which gives me cause to believe that in, any material
respect:
e the accounting records were not kept in accordance with section 130
of the Charities Act: or
the accounts did not accord with the accounting records; or
¢ the accounts 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
that the accounts give a ‘true and fair’ view which is not a matter
considered as part of an independent examination.
| 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 accounts to be reached.
Signed: | thts Please deleteWM the words in the brackets| if they doDate: not apply.{31 [3] 2022
Name: [Gain DamesaSeon)
Relevant professional
qualification(s) or body | Fic.e ®& . ge |
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[3] Oct 2018
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Notes to the financial statements

1. Accounting Policies

The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the Charites SORP (FRS102).

The financial statements have been prepared under the historical cost convention except for the valuation of 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.

Funds

Endowment funds are funds, the capital of which must be maintained; only income arising from investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowmentwas established.

Restricted funds represent (a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest, and (b) donations or grants received for a specific purpose or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balances remaining unspent at the end ofthe year must be carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate mvestment, interest is apportioned to individual funds on an average balance basis.

Unrestricted funds are general funds which can be used for PCC ordinary or designated purposes.

Income

Planned Giving, collections and donations are recognized when received. Tax refunds are recognized when the incoming resource to which they relate are received. Grants and legacies are accounted for when the PCC is legally entitled to the amounts due. Dividends are accountable when receivable, interest is accrued for gross.

Expenditure

Grants and donations are accounted for when paid over, or when awarded, ifthat award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed Assets

Consecrated and benefice property is not included in the accounts in accordance with $.96(2)(a) of the Charities Act 1983.

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). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in financial statements. Subsequently no individual item has cost more than £1,000 so all expenditure has been written off when incurred.

Equipment used within the church premises is depreciated on a straight-line basis over four years. Individual items of equipment with a purchase price of£2,500 or less are written off when the asset is acquired,

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Parochial Church Council of St Mary Magdalene, Taunton

Statement of Financial Activities for the year ending 31 December 2021

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|||||||| |---|---|---|---|---|---|---| |2.|INCOME| |Unrestricted|Restricted|TOTAL FUNDS| |2a)|Voluntary|Income|Funds|Funds|2021|2020| |Planned Giving|75,186|-|75,186|73,754| |Plate Collections|4,524|$|4,524|6,113| |Gift Aid|reclaimed|17,698|4,300|18,998|17,617| |Donations, appeals etc.|4,690|11,564|16,254|23,385| |Legacies|55,000|-|55,000|5,373| |187,099|42,864|169,963|126,243| |2(b)|Activities|for generating|funds| |Fund|raising|events|4,284|2,718|4,002|3,589| |Bookshop|5,658|-|5658|4,226| |Coffee Shop|44,499|-|14,489|13,863| |Magazine|3,267|-|3,267|3,666| |Memorial Window|$00|-|900|600| |25,609|2,718|28,327|25,944| |2(c)|Church Activities| |Letting|of church properties|1,877|-|1,877|1,685| |Fees|5,500|-|5,500|-|497| |7,377|-|7,377|4,188| |2(d)|Investing|activities| |Interest|123|1,879|41,802|3,700| |123|1,679|41,802|3,700| |2(e)|Extraordinary|items| |NLHeritage|Culture|Fd|reserve|33,500|33,500| |NLHeritage Culture|Fd overheads|12,200|12,200| |Taunton Sunday School|Fd|Coach|House|23,995|23,995| |Miss Penny bequest:|Coach House|10,589|10,589| |Fabric|Fd|(reimbursed|fees)|9,681|9,684| |LPOW|grants:|Fabric|Fd|13,821|13,821| |Furlough|payments|-|-|-|7,996| |Tower|Fd|-|“|34| |Unclaimed|creditors|w/off|-|-|-|+00| |69,202|34,583|493,786|8,130| |TOTAL INCOME|259,410|51,844|311,254|165,205|

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Parochial Church Council of St. Mary Magdalene, Taunten

Statement of Financial Activities for the year ending.34 December 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |3.|EXPENDITURE| |Unrestricted|Restricted|TOTAL FUNDS| |3(a)|Church activities|Funds|Funds.|2021|2020| |Mission|and|Charitable|Giving| |Home|100|60|160|200| |Overseas|220|220|-| |100|280|380|200| |Ministry: Didcesan parish share|48,000|-|48,000|75,260| |Other|ministry costs|2,276|40|2,316|2,259| |Church running|and maintenance|36,226|-|36,226|26,589| |Salary and|fees|34,695|-|34,695|27,357| |Post,|stationery,|copying|and|printing|3,408|-|3,108|2,899| |Domestic|costs|1,105|-|1,105|530| |Telephone,|broadband|and WiFi|1,247|-|1,247|4,251| |Sundry expenditure|1,027|-|1,027|557| |127,784|320|128,104|136,902| |3b)|Activities|for|generating funds| |Cost of fund|raising|events.|$64|3,213|4,077|378| |Bookshop|1,668|-|1,666|4,143| |Coffee Shop|2,894|-|2,394|4,129| |Fees|1,603|-|4,603| |Magazine|45|st|45|810| |7,072|3,213|10,285|9,460| |3{c)|Extraordinary|items| |Organ|renovations|-|-|-|5,432| |Bell works|-|-|-|7,687| |Tower costs|-|=|-|9,179| |Coach|House accumulated fees|-|9,681|9,681| |Café &|North door development|58,098|5,284|63,382| |Café Tables &|Chairs|-|3,321|3,321| |Sound|and|Streaming|system|27,118|610|27,720| |Development|Professional|Fees|42,168|5,113|417,282|13,136| |Coach House re-roofing|-|35,255|35,255|3,255| |Exceptional|works|-|-|-|‘3,186| |Mill|House Awayday deposit|-|-|-|50| |97,377|59,264|156,641|41,925| |TOTAL EXPENDITURE|232,233|62,797|295,030|188,287| |4|Trustees|and|Staff|remuneration|and|other transactions|

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The PCG.employed a Caretaker up to the end of September. A Verger was employed from the beginning of October A salary and fees were paid to the Director of Music. In addition, fees were paid to Organists and Administrators The total amount of donations received from the Trustees or any related parties without conditions was £13,240 Contributions to the C of E Church Workers Pension Fund for benefit of employees: £965

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Parochial Church Council of St. Mary Magdalene, Taunton

Statementof Financial Activities for the year ending 31 December 2021

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5	FIXEDASSETS		2021	2020
	Tangible Investments		2,244	3,468
	Depreciation		(1,224)	(1,224)
			4,020	2,244
6	CURRENT ASSETS: SUNDRYDEBTORS
	Tax recoverable - Unrestricted		14,300	13,610
	Tax recoverable - Restricted		-	-
	Unrestricted debtors		3,455	-
			17,755	43,610
7	LIABILITIES:SUNDRYCREDITORS
	Unrestricted		14,905	1,502
	Restricted		175	-
			15,080	1,502
8	PARISHFUNDS	3112/2020	Movement	31442/2021
	Unrestricted Funds
	Designated Funds
	Fabricfund Coffee shop reserve	52,185 26,000	27,268 (26,000)	79,A53 -
	Towerfund	64,633	{47,367)	6,766
	Generalfund reserve	27,020	6,480	33,500
	General Fund	-	67,000	67,000
	Total designated funds	159,838	26,861	186,719
	General Fund	-	56	56
	Totalunrestricted funds	159,838	26,937	186,775
	Restricted funds
	Vicar&chuchwardens R&E accincome	15,449	(14,362)	4,087
	Vicar& chuchwardens Discfund	2,559	251	2,810
	Fabric Fund	5,534	(730)	4,804
	Tower Fund	-	183	163
	Choirfund	138	254	392
	Flowerfund	2,161	331	2,542
	Bell fund	16,462	(1,299)	15,163
	Coach House: Mission Hub	(3,255)	4,384	1,129
	Youth Evangelism Grant Church w eekend Fund	207 8a	- .	207 89
	Total restricted funds	39,344	(40,953)	28,391
	TOTALFUNDS	199,182	15,984	215,166

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) SCHEDULE OF CHARITABLE AND MISSION GIVING

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||||||| |---|---|---|---|---|---| |From|From|TOTAL| |Collections|Church| |and Events|Funds| |Church|Mission|Society|220|-|220| |National|Ghurches|Trust|-|50|50| |Childrens|Society|55|-|55| |Somerset Churches Trust|-|50|50| |Taunton|Foodbank|ee-|en)| |a|280|100|330|

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Restricted: VICAR & CHURCHWARDENS' RELIGIOUS EDUCATION FUND

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||||||| |---|---|---|---|---|---| |Balance as|at|1|January|2021|15,449| |Investment income|_.|1,878| |17,127| |Less| |Expenditure|Te coach|house|fund|16,000| |Subscription|40,|16,040| |Balance as|at 31|December 2021|1.087|

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Restricted: VICAR & CHURCHWARDENS' DISCRETIONARY FUND

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|||||||| |---|---|---|---|---|---|---| |Balance|as|at|4|January|2021|2,559| |Investment|income|1| |Donation|ee|250| |Balance as|at|$1|December|2021|2.810|

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FABRIC FUND

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||||||| |---|---|---|---|---|---| |Designated|Restricted| |Balance as at|1|January 2021|52,186|5,534| |Tower|Fd|transfer|45,000| |Coach|House|Fd|transfer|9,681| |Legacies & Donations|55,000|TASS| |Memorial|window|900| |LPOW|Grant|13,821| |Gift Aid|tax refund|1,427| |Investment income|15| |178,130|12,969| |Less| |Architect|fees|12,169| |Coach|House|Fd|donation transfer|250| |Wrencon: Coffee Shop|Phase|1|58,788|4,594| |Coffee|Shop:|tables &|chairs|deposit|3,321| |Enlightened:|sound &|streaming|systems|25,909| |Enlightened:|resighting|Phase|1|1,811| |98,677|8,165| |Balances as at31 December 2021|79,453|~~|4,804|

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Restricted: COACH HOUSE FUND (Mission Hub)

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||||||||| |---|---|---|---|---|---|---|---| |Fabric|Fd|donation|transfer|250| |Religious|Education|fd transfer|16,000| |Miss|Penny|bequest:|sale|of investment|410,589| |Tton|Sunday|School|Fd:|part|sale|of investn|23,995| |Allchurches Trust:|grant|3,600| |54,433| |Less| |Deficit as|at|1|January 2021|3,254.86| |Fabric|Fd|professional|fees|tran:|9,681| |Architect|fees|5,113| |Wrencon:|Re-roofing|35,255|53,304| |Balance|as|at 31|December|2021|1,129|

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NOTE

MISSION HUB Investment:

2000 CBF Church of England Investment Fd Income Value @ 31 Dec 2021: £47,051

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