Thombury Church- 1137265 Annual Report & Accounts 2024 Thornbury Parochial Church Council 2024 Annual Report and Accounts Chavity numbw I1375 11 11 X4 pw.:
Thombury Church- 1137265 Annual Report & Accounts 2024 Index Page Table of contents Report of the Trustees Statement of Trustee Responsibilities Independent examiner's report Statement of Financial Activities Balance Sheet 10 Notes to financial statements 11-20 Appendices: A St Mary's Legal Information 20 B Sub-committees and groups 21 reporting to the PCC C Church Hall Legal Information 22
Thornbury Church- 1137265 Annual Report & Accounts 2024 Trustees Annual Report for 2024 Legal and administrative Parish Legal and administrative information, including details of the Parochial Church Council {PCC) members who served during the year, is shown In Appendix A. Aims and organisation The main purpose of the PCC is defined in the Parochial Church Councils (Powers) Measure 1956 as 'to co-operate with the minister in promoting in the parish the whole mi55ion of the Church, pastoral, evangeli5tlC, Social and ecumenical,. The PCC meets 10 times in the year. Between these meetings business is transacted by the Standing Committee. Other subcommittee5 and groups reporting to the PCC are shown in Appendix B. The revlsed electoral roll report is to be presented at the Annual Parochial Church Meeting {APCM). Services took place at both St Marls and St Paul's, and occasionally In the Church Hall. There was a yariety of services, at different times, to cater for the different congregations, and to allow for the availability of ordained and lay ministers. A regular pattern of worship has now been established introduced. Review of progress and achievements 2024 contlnued with a pattern of regular services and activStle5 wlthin the Parish and our Priest in Charge, Reverend Joy Ludlow, with the help of the retlred priests and the assistance of Rev Sophia, a local NSM, has covered much of the work required. Alice Keehn continues the role of office administrator and PA to Revd Joy and we are finding her skills in marketing, social media and presentation Invaluable. Alongside her role as Lay Funeral Minister. Lizzie Jones has continued as Life Events coordinator. She is working very well with baptism, wedding and funeral families. Our Director of Music has continued to develop the choir and, with a small committee, has arranged the return of the concert5 in 2024 which have been a great success. These have been very well attended and appreciated. The most SlBnificant feature of 2024, afferting the accounts, wa5 the re-ordering of the back of St Mary's to open up the west end of the Church. This included moving the font, removing surplus pews but retaining the Victorian joinery, laying new stone flooring, adding a new children's area, providing a dedicated storage area, improving the appearance of the war memoria15 and providing an improved and larger servery area for social events. The work also included Improvlng the west end vestry to include an accessible toilet and a second toilet and enhanced choir facilities. The work commenced soon after Easter and the servery and other facilities were officially opened and blessed on l December, with an open afternoon for the community on Sunday 15 December. Thanks for the work on this project must go to Robin Gupta who was Project Manager, and to Mike Dennett who helped with the day-to-day oversight of the contractors. During the whole 7 Months we were able to maintain our funerals and wedding ministry with the aid of the very flexible workers from the main contractor Ellis and an excellent band of helpers from both St Mary's and St Paul's, who cleaned every week and before special services. Finally• as ever, we have had to bid a sad farewell to many of our church community who contributed to our Parish in so many ways. May they rest in peace. Others who have been faithfully attending, for manyyears, are now no longer able to get out and about and many use our livestreamed services each Sunday fortheir worship.
Thornbury Church- 1137265 Annual Report & Accounts 2024 Review of Financial Activities and Affairs To achieve the reordering, we used £16k of designated funds. with the majority from the Robinson fund: £326k net of VAT reclaims. This considerable piece of work, which is now complete, has been well received and already put to good use. We are truly fortunate in having generous and commttted congregation5 who give regularly, whether using the Planned Giving Scheme or Standing Orders. Income, excluding legacies, has increased year on year thanks to this generosity, and also due to increases in investment deposit balances. In terms of legacies, we were fortunate to receive a generous donation of £52k from George Ford, which is restricted for the fabric of St Mary's. In 2024, we had entertainment events, including films, a barn dance, Sunday lunches and several concerts took place in St Mar¢s, all providing extra income. Expenditure increased overall but we made some saving5 in otherareas, to offset increases. In 2024, Gill Young left the post of Treasurer for the Parish at the APCM and we wish to show our huge appreciation and thank5 for her hard work and dedlcation to the role over many years. WÈ have taken on the services of a professional accountant (Alistair Jenklns) as Treasurer. A notable increase in Utility bills has kicked in, as for all. We r&fixed our rate for the gas and electricity in late 2024 and kept our supply with Ecotricity, a more sustainable supplier, as part of our Eco Church endeavours. The Statement of Financial Activity shows a net deficit for the year of £219,783, which becomes a surplus of £122,207 if you exclude the St Mary's re-ordering. Total fund5 have thus decreased from £1,799,395 to £1,585,486. roughly the level at end of December 2022.The Church Hall accounts also show a small deficit as various improvements have been made, Including solar panels to generate our own green energy. A lot more Informatlon at fund level can be found In notes 12 / 13 to the accounts. Investments contlnue to be made to ensure a safe, but competitive rate, of return across all funds. Bank and Deposit interest rates peaked in 2024; there is little to be gained from movlng any of our bank deposlts. We continue to bank with Natwest as the Diocese has an agreement that all its churches get interest on their balances, although we do pay bank charges on both current accounts. We continue to keep the Coventry Charities saver account. The PCC will continue to make every effort to safeguard the funds in the best way possible. Many thanks to all those who give generously of their money, time and 5UPPOrt in 50 many differerlt Way5. Planned Giving and the Parish Glving Scheme The number of regular givers, whether in the Diocesan scheme or by Standing Order, has decreased from 152 at the end of 2019, to 102 at the end of 2024. We have therefore lost nearly one third of our regular givers over the last 5 years. This is exceptionally concerning as this incorne is what we rely on for our day-to-day expenditure. This is a matter that the PCC will need to address urgently. Thank you all for your continued commitment to our ministry, and for reviewing or increasing your giving. Thank5 to Phil Jones for all his work in the role of Planned Giving Recorder, and we thank Denise Jones for taking this over. There is a contactless payment machine in St Marfs which is also being used regularly.
Thombury Church- 1137265 Annual Report & Accounts 2024 Use of Retained Funds (Reserves) The Charity Comrnission requires the PCC to comment on the size and use of retained fund5. The General Fund covers the cost of our ministry, staff costs, Parish Share and routine up-keep of our buildings. The operating balance we hold in that fund is around a third of our annual expenditure. We also have designated funds for specific allocated items of spend as decided by the PCC. We have a Hall complex and two church buildings to maintain, one of which is Grade I listed and in constant need of specialist attention, particularly regarding its masonry. The funds we hold are insufficient to cover all the things WÈ would need to do to maintain our buildings and keep them up to date. The restricted Robinson legacy is only for the fabric of St Marvs. The reordering work at the back of St Mar¢s has delivered improved storage and expanded the kitchen area and is much appreciated already. This was partly paid for by the Robinson fund, and legacy money held in the Deslgnated Fund. Flnanclal Risks The major risks can be summarised as follows: Falling church membership. A large number of the congregation is over 65 and on a reduced income. Failure to maintain the numbers of people using the Planned Giving scheme. Only about half of those on the Electoral Roll are regular givers to church funds. About a third of our regular income comes from just a few very generous donors and the loss of just one of these would have a serious impact on our total income. Meeting the cost of upkeep and re-ordering of buildings. Large Parish Share. For the support of ministry in this and other parishes in the diocese. Rising staff costs due to the need to comply with employee legislation for both salary level and the work-place pension. The difficulty in flnding people with the skills and the time available to take up key servlce roles, such as warden or treasurer. Church Hall-Aims, Organisation and Legal information The aims of St Marfs Church Hall Trust are contained in the Thornbury Church Institute Declaration of Trust Deed dated 30th March 1912. This established the Trust to provide a Hall, inter alia, "for any ecclesiastical purpose or for the purpose of mission services, Sunday schools or meetings or for any object or purpose having in view the spiritual, moral, soclal or intellectual wants, requirements and welfare of professing members of the Church of England The Hall Trust places the facility in the ab501ute care of the Vicar and Churchwardens for the time being in office. They have the power to appoint Trustees. The original Custodian Trustees are all deceased and this role has now been taken by The Gloucester Diocesan Trust. On 27 January 2004 the Vicar and Churchwarden5 appointed Thornbury PCC to manage the day-to-day administration of the Hall. This is undertaken via the Church Hall Sub-committee of the PCC, which can include, ex-officio, the Vicar and Wardens. Church Hall Legal and administrative information. including details of the Trustees and Hall Committee members who served during the year. is shown in Appendix C.
Thornbury Church- 1137265 Annual Report & Accounts 2024 Church Hall - Review of Activities during 2024 The highlight of the year was the installation of solar panels by Redbridge & Sons to benefit just the hall's electricity cost. This followed two or more years of consultation with the dI0Se, prospective suppliers and deliberation as to whetherthe panels should benefit the house as well. Majorworks contracted during the year. included the installation of new water heaters in the kitchen and disabled toilet as well as the solar panels. During the year, a new group'sing to rememberf started using the hall, taking the number of our regular users to 24. The Air Cadets hired the hall for 6 months whilst their premises were refurbished. St became apparent that alcohol was being'sold" in various ways {i.e. as part of a ticket price, as part of a membership fee, on a donation basis, or actually per drink), without the application for a Temporary Events Notice for each occasion. These notices are restricted in number for each building. To allow our users to continue as before, a licence was necessary. Thus a successful application was made to the authorities, for a hall premises licence to consume alcohol in the hall. The Management Team has the responsibility to ensure our Licence regulations are being adhered to. Once the licence was granted, the terms and conditions regarding the hall hire were amended to include the provisions of the licence and a new Style booking form wa5 created. To emphasise the fact that the Hall belongs to the church, the committee is ensuring that all services and other appropriate activities are advertised on the noticeboards. Banners are also being planned. Projects for 2025 include.. Investigating the possibility of installing a water main direct to the house. The installation of a smart meter for gas. And installation of a smart meter for our electricitv supply, to enable a SEG payment to be claimed for our solar energy which can go to the grid. This has involved changing our current supplier. and we will now pursue the new supplier for the necessary smart meters. The hearing loop system may need replacing. Review of financial activities and affairs- key points A net operating deficit of £559 was recorded for the year as follows: Church Hall- Deficit of £12,780 (Deficit of £8.737 in 2023) o House- Surplus of £12,221 (Surplus of £8,377 in 2023) Annual income from hall lettings wa5 £21,682, an increase of Il% over the previous year 17% from regular users and the balance from casual bookings). The hire charges were increased by £1 per hour in October 2023 and again in January 2025. Subsidies to hall users for the year were as follows: "Charity" di5count5 amounted to £1,303 (£1,017 in 2023). Discounts allowed to frequent hall users amounted to £3,615 (£3.486 in 2023). Deposit interest of £1,396 being a rise of 827%, (£150 in 2023.1 The £35,000 deposit held by the PCC was transferred to a Church of England Deposit Fund with CCL4 Investment5 at the end of 2023 to benefit from a higher rate of interest. The rent payable by the tenant was increased by £50 to £1,250 per month in September 2024. Major works - The installation of the solar panels for the hall cost £13,913. The cost of the new water heater5 in the kitchen and disabled toilet plus a new kitchen worktop was £1,678. The administration sundry cost of £540 was for the Gazette advertisement regarding the licensing application. The cost of gas rose by 4.5% whereas the cost of electricity was down by 16.6Yo. Water costs were £304 compared to £393 in 2024. A saving of 22%. The contractorfor cleaning the hall raised her prices in April 2024. The annual cost of cleaning rose by 2.8Y. This was due to the price increase but offset by fewer hours being worked during July and August compared to 2023. The CCLA deposit of the £36,396 has been earmarked for resurfacing the car park, and the Natwest Bank balance of £14,933 for the replacement of hall equiprnent. The hall committee is very grateful to Brian Knott who has been helping Angela Edwards for the last 16 years with the hall accounts and ordering some of the hall supplie5. Brian now vrfishes to withdraw from these activities so the hall committee are looking for someone to help Angela with the accounting element, i.e. checking invoices, paying cash into the bank and helping prepare the annual accounts. This does not mean one has to commit16 years before escaping. Be brave and give it a trial. The hall committee say a big 'Thank You, and wish Brian all the best.
Thornbury Church- 1137265 Annual Report & Accounts 2024 Statement Of Trustees, Responsibilities The trustees and members of the PCC are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: • select suitsble accounting policies and then apply them consistently; observe the methods and principles in the Charities Statement of Recommended Practice (SORP); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial Statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to function. The trustees are responsible for keeping sufficient accounting record5 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements. comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles. Signed on behalf of the PCC trustees: Signed..... Narne...£E.U.b.....cm L[0 Date...
Thornbury Church- 1137265 Annual Report & Accounts 2024 Independent Examiner's Report I report on the accounts of The Parochial Church Council of the Ecclesiastical Parish of Thornbury, Bristol, registered charity no. 1137265 for the year ended 31 December 2024 which are set out on pages 9-18. Respective responsibilities of the trustee and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 14412) of the Charities Act 2011 {the 2011 Act) and that an independent examination is needed. It is my responsibility to; examine the accounts under section 145 of the 2011 Act. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5llb) of the 2011 Act; and to state whether particular matters have come to my attentlon. Basis of the independent examinerfs report My examination was carried out in accordance with the general Directions given by the Charity Commisslon. An examination includes a review of the accounting records kept by the charity and a comparlson of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeklng explanations from you as 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, and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no matter has come to my attention: (l) which 8ives me reasonable cause to believe that in any material respect the requirements: to keep accountlng records in accordance with section 130 of the 2011 Att; and b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met: or (2} to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. May 2025 Kenneth Mitchell [qualification] 19, David's Close Alveston, Bristol BS35 3LR
0 4x7 T O ITJ oi ¢N * o r o o (a UJ o iy 00 ) q) * ty) O * o e O C 4 * ry iy cy 2 2 9 w c o tt o sosso sjilill l2}
Thornbury Church - 1137265 Annual Report & Accounts 2024 BALANCE SHEET 3111212024 3111212023 A5at Asat NOTE 31n212024 3111212023 Flxgd assgts Tangible ksets In4esiments 210.QIJO 1.060.367 1,270,367 210.000 1.161.681 1,371,681 Currenl assets Cash and shortTen Deposits Debtor5 325.384 35.492 360.875 433.372 3.982 437,354 10 Liabilitles Crediiors: knounts Falling Due In Year Prolision For Liabiliti85 knd Chargas Dua Within On8 Year 11 2,827 42,930 45,757 6,463 3,537 9,999 11 Nol curr•nt ass•t$ las S curr?nt liabllltles 700.811 427,354 Total asset• le89 current liabililie$ Llablllties 1,585,486 1,799,036 Total netassgts l•ss Ilabllllles Roprosgntèd by Unrèstrictèd 1,585.486 1,799,036 Unrestricled- General Fund8 12 58,845 190,633 Deslgnated De$ignated- Designated fund 12 175,144 49,457 R88trlct•d R¢stricled- Ngencycollection Restricted . Bells Restricted - Bufvjmbo Restricted - Children and Youth Worf( ReslTlcted - Fabric Fund incl Chancel Roor Restricted- Hopkins Re81rfcted Resen RèstriclÈd- Wsic incl Choir Reslricied - Robinson Tnjst 12 620 12 1,914 8,548 24,915 52,419 689,758 8.009 303.423 1,870 8,548 26,344 12 12 12 12 658219 5,724 595,791 12 12 Endowmenl Endowment- Hall deslgnated receip$t and paynents Endowment- Hall Propety 12 12 51,891 210.000 1,585.486 52,450 210,000 1,799,036 Fund Totals Signed by: Reverend Joy Ludlow Priest in charge, Thornbury with St Paul's Parish Date: ymay 2025 io
Thombury Church- 1137265 Annual Report & Accounts 2024 NOTES TO THE ACCOUNTS 1 Accounting Policies The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Church Accounting Regulations 2006 and UK Generally Accepted PractiGe as it applies from 1 January 2019. The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The charity is a public benefit entity. Funds Unrestrided funds represent the funds of the PCC that are not subject to any restrictions regarding their usé and are available for application on the general purposes of the PCC. These include funds designated for a particular purpose by the PCC as described at note 13. Restricted funds are accounted for in accordance with the particular terms of trust arising from the express or Implied wishes of donors in so far as these are intended to be legally binding on the Trustees. The purpose of restricted funds is described in note 13. Endowment funds are where the capital value must be maintained, but the income generated by these funds can be used in accordance with the restrictions associated with eaGh endowment. The church hall.is the Endowment fund, and this is described in note 13. The accounts include transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of church groups that owe an affiliation to another body. nor those that are informal gatherings of church members. Fixed Assets Consecrated land and buildings and rnoveable church furnishings. Consecrated and beneficed property is excluded from the accounts by s10(2)(a) of the Charities Act 2011. The church benefits from the use of such land and buildings but is not in direct possession of the freehold. No value is placed on moveable church fumishings held by the church wardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. Consequently,. all expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether rnaintenance or improvement, is written off 11
Thornbury Church- 1137265 Annual Report & Accounts 2024 Investments Investments are valued at market value as at 31 December. 2 DONATIONS AND LEGICIES 3V1212024 Restricted Total 350 IC4,992 26,717 9,420 4,786 Unrestricted 104,642 26,546 6,537 4,786 Planned giving (Gift Aided) Gift Aid recoverable Donations not Gift Aided Church collections Diocese contribution to life events Legacies Other income 171 2,883 2,673 715 52,418 55,091 715 Total Donations and Legacies 149.9x1 55.822 205,722 Prlor yoar 3VIV2023 Restricted Total Unrestricted 99, 150 25,846 12,996 Parish Giving Scheme {Gift Aided) Glft Aid recoverable Donations not Gift Aided Church col l ections DI0Se contribution to life events OtherGrants Legacies Other income 99,150 25,846 13,251 255 2.665 2,665 6,649 111,283 6,649 111,283 Total Donations and Legacies 263,293 3 Incom from charltable activities 3VIV2024 Unrestricted Restricted 4.861 7,597 42 Endowment Total 5,265 7,597 1,100 21,682 Fees for weddings Fees forfunera5s Other fees (travel) Church Hall rental income 1,058 21,682 Total Charltable Actlvltles 1462 2L682 Prior year 3y12n023 Unrestricted Restricted Endowment 4,521 469 4,130 117 Total 4,990 4,130 117 19,501 Fees for weddings Fees forfunerals Otherfees (travel) Church Hall rental income 19,501 Total Charitable Activities 4768 19,501
Thombury Church- 1137265 Annual Report & Accounts 2024 4 Incorrp from InvestnEnts 3U1212024 Unrestricted Restricted Endowment 8,711 1,396 14,579 Total 18,490 14,579 ' 35,441 Interest income Property rental income Other investment income 3,280 32, 161 Total Investment Income 11,663 40.872 15,975 68,510 Prioryear 31112/2023 Restricted Endowment Unrestricted 9,459 Total 19,550 14,4 26,893 Interest income Property rental income Other investment income 14,4LX) 1,616 25,277 Total Investment Income 11,075 35,217 ,551 100/0 of Hopklns Income from shares is pald out as part of Mlsslon Olsbursements. 5 Other Incon 3y1212024 Unrestricted Designated 1620 1715 Total 1,620 2,238 Oldbury share offlce expenses Miscellaneous income 523 Total Other Income 3335 523 3858 Prforyear 3y12/2023 Unre5trirted Designated 13(M) ioi Total 1,3(K) 101 Oldbury share office expenses Miscellaneous income Total Other Income 1401 01 13
Thombury Church- 1137265 Annual Report & Accounts 2024 6 Charitable Expendilure 3111212024 Unrestrirted Designated Restricted Endowment 135 3,802 L726 267 Total 135 3.802 I,n6 1,695 C05t of generating Income Icard machlne} Church office costs Church flower5 Children l Youth work Organ & piano tuninB Cholr& muslc Church Maintenance St Mary's St P3uI's Church Running costs St Marfs utll Itles St Paul's utilities St Mary's Insurance St Paul's Insuran Cost of upkeep of services Lay Salaries Church Hall expendlture Parish Share Minlstry Costs, Ivlcarfs expenses, subscriptlons) Faith sharin8, events, & social Mlsslon giving (excluding Hopklnsl Governance, (incl Independent Exam fee I St Mary's Re-ordering expenses 1,428 390 670 133 4.744 310 310 9.070 1,874 &5C8 589 1471 23,310 9,070 1,874 2.765 30.623 7,313 93,022 3,221 93,022 3,221 9,550 1,505 11,055 16,039 326,129 341168 Total Char(table Expendlture 170,434 14039 330,541 555,230 Piioryear 31n212023 Unrestrlrted Deslgnated Re5trlrted Endowment 218 3,706 L779 Total 218 Cost of generatlng Income Icard machlne) Church offlce costs Church f lowers Children / Youth work Organ & pianotunlng Choir & music Ch@t (church magazlnel Church Maintenance St Mary's St Paul's Church Runnln8 Costs St Mary's utllltles St Paul's utilities St Marfs Insurance St Paul's Insurance Cost of upkeep of seNices Lay Salaries Church Hall expenditure Parlsh Share Ministry Costs. Ivic3rf5 expenses, subscrlptlons) Faith sharing, events, & social Mission giving (excluding Hopkins) Governance, lincl Independent Exam fee I St Mary's Re-orderingexpenses 1,779 1,410 1,202 L250 1,410 1,202 127 SLI) 1,123 21,IlXI 27,231 3,107 3,107 &816 876 8,816 876 621 744 1&880 621 744 25,995 27.296 7,115 27.296 1290 L283 1290 10.532 L430 27,418 l430 7.434 Totsl Charitsble Expendlture 7,434 34,1
Thombury Church- 1137265 Annual Report & Accounts 2024 7 Staff Cost and Trustee Disclosures 3111212024 3111212023 Staff Wages National insurance and pension Total Unrestricted staff costs 22,262 18.512 368 23.310 18,810 Church Hall Caretaker (Endowment fund) 7,313 7,115 Clergy are paid and employed by the Diocese ol Gbucester. During 2024. the PCC employed 3 part time lay workers (2023: 3), as well as contracting Ihe services of selfMplOyed personnel. The church hall ako employed one part Éime d8an8r and contracted services of self-employed personnel. No remun8ration was paid to the members of th8 PCC (known as the charity Trustegs) during the year {2023 - Nil), No expenses were 5ncurred by trustees in the fullilmènl of their trustee obligalions. Key managemènt personnel are comprfsed of the PCC Trustees together with the Rev. Joy Ludlow (Vicar). There were no transactions wlth related partles during the year [check wlth the school, check re donations from Irusteesl. Bolh churches are blessed wilh the serylces of many volunteers. boih clerical and lay capacity. It is not Possible to 8Stlmatè the financlal value of this, but without thls Input the church would not run its full progran of worshSp and activities. 8 Fixed Assets 3111212024 31112120Z3 Land: Church Hall Land Investments: Hopkins Reserve CBF C of E Hopkins General CBF C of E Salmon Curate gift- CBF CofE Inv Shares General Bequest Fund - CBF CofE Inv Shares Robinson CBF ICCLAI Investment5 210,000 210,000 109,648 444,862 2,998 117,167 385 692 107,194 434,907 2,867 114,546 502 167 Total Fixed Assets 1,230.367 1,371,681 Land Is Church Hall land held in IrusL and Is held at deemed cost as it cannot be sold. Investments a in CCLA inveslments, consisting of shares in Investment Trusts. 10 /• of Hopkins share income is used for Mission. Inveslments Movement: 3111¥2024 Unrestricted Restricted Total 117,413 1,044,268 1,161681 Market Value as at ljanuary Investment Income Distributed to Church 3.279 32.161 32,160 35,440 35,440 Sales of investme nt5 during year Unrealised Gains / (Losses) . 130,CM]) 28,686 1753 25.933 Marketvalue as at 31 December Izo,165 940,202 ¥060,367 15
Thornbury Church- 1137265 Annual Report & Accounts 2024 Inveslment Movement: Pfloryear 3v/2023 Vnre5trirted Restrlcted 70.474 953,753 Totsl 1,024.227 Marketvalue asat ljanuary Investment Income Distributed to Church 1,616 1.616 25,277 25,277 - 26,893 26,893 Purchases of inve5tment5 duringyear Unrealised Gains / (Losses) 6,939 90.515 97.454 Market Value as at 31 December 117A13 1,044.268 ¥161.681 9 Cash and Short-Term Deposlts 3111212024 3111212023 Bank Accounls Natwest Number l account Church Hall Bank Account 72,906 50,906 Total Bank accounts 87,639 68,160 Short term Investment deposlls CBF General Purposes Deposit Hopkins Restricted Deposit Coventry charity deposit Church Hall CCLA deposit fund Robinson Restricted Deposit Total Current Asset Investments 13,482 90,519 59,753 36,397 60,502 118,995 56,480 35,000 234,449 Withdrawals totalling £160,000 were made during the year, in support of the St Mary's rewordering project. 369,194 10 Debtors 3111212024 32,890 2,465 3,097 137 3111212023 1,568 2,413 4,029 Debtors- general Debtor5 - Church Hall Endowment Accrued Income (on investment deposits) Prepayments Total Debtors 38,769 8,010 The majority of the increased 2024 balance is due lo 8 £30.110 VAT reclaim for the St Mary's -ordering project. if
Thornbury Church- 1137265 Annual Report & Accounts 2024 re ors 3111212024 42,390 1,903 3111212023 3,537 2,218 2,600 Creditors- general Creditors - Church Hall Endowment Other Agency collections Total Creditors 924 45,217 10,000 The majority of ltte increased 2024 balance Is due to a £25,950accTued invoices for the St Mary's rewordering project and £9,550 accrual for mission donations. 12Movomont in Funds over year The Funds are each explained In Note 13. nd balan¢o6 Incomlng Outgolng f*lns and Fund balonGe¥ Fund Transfers brought forward Resources Resources Losses Carri&d forward General Funds: General fvnd 79.633 177.098 170.435 30,203 2,753 58,845 Deslgnaled fvnd 160.457 523 16.039 30.203 175,144 Restrlcled Funds: Bells Fund 1070 462 419 1,914 8ufumbo Fund 8,548 8,548 Childrgn l Youth Fund 26.344 1.429 24,915 52,419 Fabric Fund 52,418 Hopklns Restrlcted Fund 858219 20,636 1,505 12,408 689,7S8 slc Icholr Fund 5.724 3,345 1,060 8.009 Robinson fund 595.791 20237 326.129 13,525 303.423 other-poency 1.058 438 820 Restrlcted nds. Church Hall General 52.450 37.657 38216 51,891 Church Hall Property 210,000 210,DOO Totsl Fun(ts 1.799,036 313,433 555,669 28,686 185,486 17
Thornbury Church- 1137265 Annual Report & Accounts 2024 13 Funds We operate 4 types of fund. The General Fund covers day to day income and expenditure and can be used for the whole Parish. The Designated Fund is earmarked for major projects, while the Restricted Funds are for specific expenditure using income raised or donated for such purpose5, as detailed in the notes. We no longer have a "ReseNes" fund (what we used to think of as 'savings"), so we need to keep a surplus and operating balance on our General Fund, sufficient to cover a year of salaries orthree to four months of out-golngs or any emergency that might arise. For this reason, we now keep a balance of about £70k- £80k on the General Fund. (£58,845 at 31112124}. General (unrestricted) Fund Income exceeded outgoings of this fund by £6,663, similar to that in 2023. We then made a transfer to the designated fund (see below) of £20,333, but we benefitted from a gain in investments of £2.753 this year. Designated Fund The Designated Fund holds our reseNes, which are available to use on any projects within the Parish at the discretion of the PCC. The Charity Commission require us to identify possible works that wlll need doing in the nearfuture. During 2024, we used a small amount for costs and fee5 for the re-ordering project. The balance of designated funds has risen to £175,144. The PCC has estimated provision for forthcoming projects across 2025and future years, with cost estlmates as follows: St Marys Thornbury- 2024 Deslgnations Caretaker Youth Famlly Worker St Paul's Fabric work Eco church design work Forthcorning qulnquennial atst Paul's Total Designations 29,837 90,307 20,OCO 15,OCM) 20,C(t) 175,144 Restricted Funds Bufumbo There was no income on this fund during 2023. which Is for our Ilnk parlsh In Uganda. The fund Includes a legacy of £5.000 given in 2016 from the will of the late Dr Jean Clark. We are indebted to Fiona and Ken Mitchell, who work tirele551y to continue our active support of Bufumbo. They are working wlth the Missions Commlttee to decide how best to spend the balance of £8,548. Hopklns Restricted Fund The Hopkin5 Legacy is restricted by the will of the benefactor who left it'to the PCC of St Mary'5 and St Paul's Thornbury, to be applied both capital and income for such charitable or religious purposes in the said parish as the PCC 5h311 in it5 absolute discretion think fit. It now stands at almost £670K. It provides dividend income of approx. £13k per annum, IO% of which the PCC voted to be distributed in the parish a5 decided annually by the missions committee. The remaining 90% income 15 held in the Hopkins deposit account and funds other projects and buildings maintenance. The value of the shares increased by £12K. Our investments are administered by CCLA the Church of England investment managers. 18
Thornbury Church- 1137265 Annual Report & Accounts 2024 Fabric Fund The fund was generously funded in 2024 with a legacy from George Ford, with restriction5 to be'spent on the fabric of St Mary's. The use of fabric fund is restricted, to be used solely for the fabric of St Mary's Church. Robinson Restricted Fund The fund was opened in June 2019, on receipt of a legacyfrom the late Nesta Robinson. It Is invested with CCL4, split between shares and a deposit fund. The year-end balance in the deposit fund was £34K, after releasing £60k to pay for re-ordering work in 2024. The year end valuation of the shares stood at almost £386K, again after releasing £130k to pay for re-ordering work in 2024. This fund is also restricted under the terms of the will, to be used for the fabric of st Mary's Church. Music Fund This fund holds money for the organist to use on musical matters and is funded by income from choir fees for singing at weddings, and donations, mainly from the concert series. restarting in 2024. Bells Fund The Bells fund has been brought back into PCC accounts. It receives monies from wedding couples, and payments are made from it to the ringers, as required. The current balance has been used for small repairs to the bells. Children and Youth Fund This will be spent on the chlldren and youth mlnistry in the parish, in accordance with a pollcy to be devlsed and agreed with Revd Joy, £1.4k was spent in this way during the year. Endowment Fund St Mary's Church Hall The Church Hall accounts form part of our church accounts. They occupy the fourth column of the receipts and payments account 2nd the balance sheet includes their details and Sha of investments. The Church Hall report is at the end of this one and their notes appear in the "Notes to the accounts". The Hall Comrnittee, as a sub-committee of the PCC, maintain and run the Church Hall and prepare the Hals accounts for inclusion at year end. 19
Thornbury Church- 1137265 Annual Report & Accounts 2024 Appendix A- Legal and Administrative Information Name." Parochial Church Council of the EcdesiastiC21 Parish of Thornbury Location." St Marfs is located in Castle Street, adjacent to the Castle on the edge of the old town; St Paul's is in Hackett Lane, outside the town close to the areas of recent housing development. Benefice Office St Mary's Church Castle Street Thornbury Bristol BS35 IHQ Members who served during the yearwere as follows: Revd Joy Ludlow- priest-in-charge Monica Mullinex- Lay Reader, ex officio Christine Dadd- Deanery Synod representative Mike Dennett- Deanery Synod representative and Churchwarden Phil Jones- Deanery Synod representative Tim Swan- Deanery Synod Representative Robin Gupta- Churchwarden-vice-chair Jenny Ovens - Churchwarden Rosemary Cook Peter Craig James Cryer Martin Davey Jonathan Griffiths Lee Halford Denise Jones Lizzie Jones M ike Keavey Roxanne Powe Mick Spiller Tom UshenNood Gill Young Secretary-Janet Gupta Treasurer- Allstair Jenkins The Parochial Church Council of the ecclesiastical parish of Thornbury has been registered with the Charity Commi55ioner5 a5 registered charity number 1137265 Ken Mitchell Addressfor correspondence." PCC Members.. Ex-officio members Status.. Independent examiner.. Bankers.. National Westminster 5 North Walk, Yate, Bristol, BS37 4AG 20
Thombury Church- 1137265 Annual Report & Accounts 2024 Appendix B- Sub-committee5 and groups reporting to the PCC Standing Committee Safeguarding Health and Safety Missions Committee, Global and Local Concern Church Hall Committee Music at St Mary's St Mary's Cleaning Team St Mary's Flowers St Mary's Holy Mowers St Mary's Tower Captain and Bell Ringer5 St Paul's Flowers and Cleaning All Age Ministry: St Mary's All Age services St Paul's All Age seniices Hopscotch Dads and Kids Open the Book Muddy Praise "Chat" Parish Newsletter Parish Communication (includes Website and Facebook) Faith Sharing Team Thornbury Churches Together representative Deanery Synod Pastoral Care including bereavement support and home Holy Communion Environment Champions Mothers, Union St Mary's CofE VA Primary School Marriage Reflection Life Events including Bapt15m, Weddings and Funerals Catering Team Out and About Sunday Lunches Community Activities A report of the work of these committees and associated groups is made within the Annual Review of 2024. 21
Thornbury Church- 1137265 Annual Report & Accounts 2024 Appendix C- Hall Management Custodian Trustee: Gloucester Diocesan Trust Managing Trustee: Thornbury Parochial Church Council Hall Sub-committee: Joint Chairmen: Mr A Mullinex & Mrs J Geal Treasurers: Miss A Edwards & Mr B Knott Secretary: Mrs C Ball Mrs M Stephens Mrs H Bullock Two Vacancies for User Representatives {Co-opted) Ex-officio: Priest in Charge: Revd Joy Church Warden: Mr5 Jovens 22