Charfty registration number. 1164990 The Parochial Church Council of the Ecclesiastical Parish of Ilfracombe Annual Report and Finan¢ral Statements for the Year Ended 31 December 2024 WESTCOTTS CHAqTERED A¢¢OUIITANTS & IUSIPIÉSS ADVISEkS
The Parochlal Church Council of the Eccleslastlcal Parlsh of INracombe Contents {contlnued) Reference and AdministrdlNe Details Tru¥lees' Report 2to6 Independent Examinefs Rert Statement of Financial Athities Balance Sheet Notes to the Nnanclal Ststements 10t022
The Parochial Church Councll of the Eccleslastlcal Parish of Ilfracombe Referen¢è and Adminlstrative Detalls Trustoes: Reverend R J W Roles Mrs J Donovan Mrs E A Cooper Mrs S Blackmore Mrs S Cooke Mrs J Coats Mrs J Harvey Mrs A T Powell Reverend F Alison Mrs S D Roles M5 L Courtnadge Mr R J Courtnadge Mrs K M Ashford Mr R Donovan Ms J RaNlnS0n-Srnrth (appointed 14 April 2024) Charity Registsatlon Number 1164990 Principal Offi¢e The New Vicarage St Brannocks Road Ilfracombe Devon EX34 8EG Indep8nd•nt Examiner Catherine Williams FCA OChA Independent Examir)er Westcotts (SWI LLP 47 Boulport Street Barnstaple Devon EX31 1SQ Page 1
The Parochial Church Councll of the Eccleslastlcal Parish of Ilfracombe Trustees. Report The trustees presenl Ihe annual repori together with the financial statements of the charity for the year ended 31 December 2024. Objectives and activities Objects and aims Promoting in the Ecclesiastical Parh the whole mission of the Church. The primary object of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and piathi¢es of the Church of England. 11 is our desire lo promote wthin the Parish the whole mission of the wort of the Church, pastoral, evangellstic, social and ecumenical. The Way Forward is a duMent proposed by the Grants Group and adopted by the PCC in 2013 which seeks lo rnaTry our built reSoUrS lo the requirements of our mission as the Church of England and the needs of the community we are called to serve. 11 seeks to use our buildings in ways that compliments each one of them. Hcly Trlnity Church (Grade 1 and on the Churches At Risk Regisler) is the most an¢ient gathering place of the town of Ilfracombe. seen as the Civic Church. and is a building of great archilectural interest. St Peterfs Church {Gf8de 2118 a distinguished Arts and Craft building IG Fellowes Prynne) sulted to Anglo-¢atholic worship but, being without fixed pews. offers one of the largest covered sPaS in the town: ideal for performan$, exhibitions and celebrati. Trinity R(K)ms {Grade 2) has been refurblshed to make hvo exrellent spaces leach wilh kitchen facililiesl ideal for meetings. activities and social events. The ground floor is currently hired by The Montessori Nursery for four dayE per week. There is an expectation that thi8 might be exiended to Ihe whole buikling. The burden of responsibility for the preservation, caie and appropriate use of these buildirgs is enormous. Public beneflt The trustee8 ¢onslder thal the objects of the charity, as stated above. comply with the Charities and Public Benefit Summary Guideline for Charity Trustees (January 20081. The trustees have considered the specific guidance on charities for the advanment of religion. The Iruslees Confirm that they have given due regard to the Public Benefit Guidance in planning their aCtiVes. The trustees volunleered their time lo assist wth grant applications. fund raising and raising awareness of the cause. Maintenance of the churches is important to continue to provide public benefit as a plaeE of worship. The trustees confirm thal they have complied wth the requirements of sectlon 17 of the Charities A 2011 to have due regard to the public benefrt guidance published by the Charity Commission for England and Wales. Grant maklng pollcies The trustees of the charity approvelratify re(x)mmendalions of the Parochial Church Council. A majority decision of the trustees is required ID approve all donations and activf(ies carried out by this charity. Some services are usually held annually which diredy benefit other charities; Remembrance {the ¢olle¢lion going lo the Royal British Legions). The Parochial Chuich Council arè happy foi our buildings lo be used for charitable purposes, usually without charge. Page 2
The Parochlal Church Councll of the Ecclesiastical Parish of Ilfracombe Tru5tees' Report (contlnued) Achievements and perforniance The Parish continues to offer a range of regular services wth increaslng variety. Holy Trinitys civic role is respected and has been used to mark the annual CSvlc Service and Remembrance Day. The Rector is (alled upon to mark speafic oc(asion$ with prayets and services. We have continued to build our churoh family. welcoming olhers and en¢ouraging new talents. offering a place of oomfort and the thance for personal development. The rise in our parbcipation figures (those who attend regularly and are involved with events and proJeGt5) ha8 been notable. In 2025 wè will renew our Electoral Roll (ir) aCCoan with CofE legi8lationl. Numbers are high at the moment but wll then more accurately lake a(tount of those who have moved away or died. We have been outward looking, supporting chadlles and initiatives, such as the Royal British Legion. Macmillan Cancer Care, Prostate Can¢er Support. Straw Patch, Belle's Place and Children's Hospice Southwest. In addition, we have encouraged local craft groups to Partipate in Summer and Christmas Fairs. We have Conlinued to support our schools through govemorships and chaplaincy, our seasonal presentstions for the Junior School and use of St Pele¢s for their whole-school assemblie$. The Rector is govemor at the Junior School lex offiuo) and the Academy. We are a150 building relationships with Lamp8rd Sthool, which caters for children wth special needs. This year the Grants Group have been working on the Phase 2 Scheme fof Holy Trinity. The National Heritage Lottery Funds has accepted oui Expression of Interest for the Pair and reslorats'on of Holy Trinity. These works include the repair of the tower and nave roofs, the conservation of the medieval ceiling5 and the development of the west end raised plattom to enable better community use (including accessible ramp and toilets). Cost for this project have risen and is now nearirg £1,500,000. We have been invited to bid for the Development Phase of granls. We should hear Ihe outcome in June 2025. others in the Grants Group have been developing the bid for funding of the Phase 2 works al St Pelerfs. These include better access. new toilets and the reopening of steps to allow better and $8fer acces5 lo thè Junior School. These projects, and other demands, have meant that wè have had lo look very careftjlly al parish finance$. In order to contribute to the necessary seed ftjnding. we have asked the DI0Se lo release funds from the Mandeville Trust. a Parish investment to finance the purchase of a house for a curate. This objedve is redundant as the Diocese is now responsible for dergy housing. This has been a protracted process but seems to be nearing completion. Funds. once released, will be designated for 'ecdesiaslical purposes" and will be put towards the works at Holy Trinity. We have been notified of a bequest from the estate of the late Brian Pope.. these knnds YAII enable some of the work at St Peter's. The Montessori Nursery in Trinity Rwms is now well•eslablished and has an exlIent relationship with the Church. This year we have worked towards a more long-temi hiring arrangement which will give the Parish a more Secu regular income. The level of giving has been good but 2025 will be 8 good time to ask for a review. We have also held vaiious fund-raising events and the quality 15 vlsibty improving. We have met our contributions to the Diocesan Common Fund. We have been offered a small Diocesan grant towards improving drainage al St Peler's. We may have lo look at getting a short-lemi loan from the Diocese to enable realistic grant applicalions. The work of our volunteer maintenance group has been invaluable in keeping up stsndards and responding to needs, wilh minimal costs. We are proud to have obtained an Eco Church Silver Award this year and have a PCC member holds an environmental brief. As a result, we now have swift boxes fitted in the tower. Page 3
The Parochlal Church Council of the Ecclesiastical Parlsh of Ilfracombe Trustees. Report (contlnued) Our ministy team has changed and developed. The Rector has been made Rural Dean of Shirwell Deanery and continues as a Diocesan Advisor on Vocations. Upon his retirement (January 2026) we would wish lo o)ntr'nue to be recognised as a Training Parish. Fran Allison is developlng her distinctive ministy in our communlty, not least in Wild Chur¢h which brings togelhef a diffent demographic. She k8 likely to have her end of curacy meeting wlh the Bishop in January 2025, when she will be enabled to seek a permanent post. However, her curacy Ien does rt end untll 2026. Theresa Powell's LInced Lay Ministry is developing in her work wth the sick and her Bible study group. Jenni Coats was licenced as a Lay Minister in October. She has also been asked to tutor on the Diocesan Foundations course and continues with the discussion group Spirit Level and Taizé and Celtic servlces which. again. welcome a wder demographic. Our choir has an increasing reputation and is rnu¢h admired by visitors. Thanks to Dom Carterf8 leadership. we are privileged lo have had some stunning musical occasions. Jennie Harvey continues in her role of Parish Administrator on a voluntary basis. Since the Rectcts licence wa5 renewed for tsyo years in January (to enable him to ¢onlinue as a training incumbent) the PCC has been looking towards the future. The PCC has looked al our Mlssion Action Plan and communicatlons wth the wider parish. There are aaE opportunities for more people to loln In, and fresh ideas to be built on whilst retsining our distinctiveness as church communities. Financlal revlew During the year, income totslled £89,72712023= £107.8781 wf(h £7,47812023: £19,726) represented by restricted funds. Expenditure for the year tolalled £165,284 12023= £88.1351. The greatest expenditure this year was payments to the Commons Fund and expendf(ure on ¢wr buildings. As at 31 December 2024 unrestricted funds stood at £33.737 12023: £57,488) and restricted funds were £127,49612023: £174.964}. Policy on reseNes SufficAent funds are held to ensure that resources are available lo meet all known and committed expenditure. Investmentpollcyand objectfves The charty has the power to make invesknents which the InJstee8 feel is appropriate to the charlty. kny surplus lunds are held in CCLA investment accounts. Structure* governance and management Nature of govemlng docun The Parochial Church Council of the Ecclesia8tlcal Parigh of l1frac0m is a iegistered charity and govemed by Parochial Church Council Powers Measure 11956) as amended and Chu repre8entaUon rules that came Into force on 1st January 2020. Page 4
The Parochial Church Councll of the Eccleslastlcal Parlsh of Ilfracombe Trustees. Report (continued) Recruitment and appolntment of trustees The Trustees las listed on page 1) of the Charity are appointed for a minimum of tMefve months and are members of the Parochial Church Coun1 who meet Tegularfy and also approvelratify recommendations of the P8rochlal Church coun1. The trustee8 are appointed from nominations al the AGM lch is then ratified by malority vole. Elections are held in a¢¢ordance wth the Church of England's Chur¢h Repre8entslion Rul. The church finaneAal year njns to December 31st. elections for the PCC and officers are made at the Annual Parochial Church Meeting {APCM) which must be held before May 31sL The PCC meets on up lo len occasion5 a year, wth sub-committees Istandlng Commiltee, Fabric, Events, Finan¢e, Grants and others as fequired) meeting as necessary and reporting back to the PCC Meeting which follows suMlee meets. Induction and tralning of trustees New Tiustees are inducted and trained by being briefed from existing trustees on thelr legal obligations under charity law. how the charity is run, the expe¢tations of the charity and their rde in it. Risk management The trustees have reviewed the major risks of the charity and have taken athon and established systems whith wll miligale known risks. During the year the Charity did not experien any serious incidents that should have been brought lo the Charrty Commissions attention. Page 5
Tho Parochlal Church Coundl of tho Eccloslastical Parish ot Ilfracombe Trustses. Roport (continued) Stat•m•nt of Trust••s' R•spMtslbllttl•s Th8 trustees are r8SF¥61b for prepawlng tho trustees. rert ar the fina[al stalements in accLYdance with the United KSngdom A¢etyJnlfjng SlaThJards {Uni18d In10M Goneralty Aaptsd Awounting prac8) ar¥J sw1ble taw and r6gulation Th818w appllcable to ¢h8wltss rBqulres th& trustees to prepare finanaal slat8monts for eath finandal year which we a true and frairvw tsf the 8t8ts of arfalrs ofthe charity 8fKI ol the In(Ing resourLYB and apptkth ol resowc8s of the charity that p10d. In Ihese finanLyal statsmerts. the Iluslges atB Wu[0 10: 881&f suhable accwntkn9 rKJNde8 then apyy 0)n8[¢DO, obse8 the methods and prinuFAes in the Charlties SORP", make ludgeffn16 and esimales that are reason0e pn¥JenL' slale wh8thBr aptySpb1Q accLJuntlng slandards Iwve b88n folKAv. sublerA to ary mateflal departures disekJ58d explained in the Itnen(4al 8latemonts", and prepare the ststements on ts 90iThJ o)nc8m unless it Ss Inap[pr1ate to presurno thal tho thaTSty wll eonlk)ue in busine$8. Th& Iruslges are regnSible for k6epiryJ Fwp8r racoAls that dlsdJ88 with rea5¥ble accuracy at any time the ffinancAal pJsrfii>n of the c8rfity and enab them to eNsurB Ihat th8 financial ststements comply Ihe chaleS Acl 2011. Ihg Ch&iUes IAr£xJunts 8nd Rgpots) Reoulations , 8nd thè provlsions of th8 constitutbJTr. The tru5tses are akn rwonsl9 for safewardin9 the a988t8 of th8 charity snd for lakiThJ reaSonae steps fur Ihe preveOn aTrJ detgd(n of fraud and Dth9r YgU1alw. Thè trust80s #rè responsiblu for thé m81nt8nanc8 and tegrity of tho corporate and financtal information irtlurled on Ihe rJwitabSe (x)mpanls *ebsite. LegIslatn governing the pparall)n and dnnation offfinana81 staternonts may drffer from IBsislation In otherjwigdKlions. Th8 annual report was Qtvroved by InJ$tees of the thar5ty on .. . behaK by. d 8hJn8d on its TrusL88
The Parochial Church Councll of the Eccleslastlcal Parlsh of Ilfracombe Independent Examinerfs Report to the trustees of The Parochial Church Councll of the Eccleslastlcal Parish of Ilfracombe I report to the twstses on my examinab'on of the accounts of The Parochial Church Counoil of the Ecdesiastical Parish of Ilfracombe for the htar ended 31 December 2024. RÈspon5ibilitiès and basis of report As the charity trustees of The Parochial Church Council of the Ecdesiastical Parfsh of Ilfracombe y)u are responsible for the preparation of the accounts in accanCe wth the requirements of the Charities Act 2011 I'the Act,). I report in respect of my examination of the The Parochlal Church Counal of the Ecclesiastical Parish of Ilfracombe'8 accounts carried out under section 145 of the 2011 Act 8nd in carrying out my examirbation I have followed all the applicable Directs'ons given by the Charlty Commission under se¢tion 14515)Ibl of the Act. Indtrpendenl examine$ statement I have completed my examination. I confimi that no material matters have come lo my attention in connection with the examination gwing me cause lo believe that in any material respect.. accounting records were not kept in respect of The Parochlal Church Council of the Ecclesiastical Parish of Ilfrac*)mbe as required by 8ection 130 of the Act,. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements corbcerning the forni and conlenl of accounts set out in the Charities IActt)unls and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair vie%¢ whith is not a matter considered as part of an independent examination. I have no concem8 and have come across no other matters in conne10n with the examination to which attention should be drawn in this report In order to enable a proper understsnding of the aco)unts to be reached. Catherine Williams FCA DChA Independent Examiner Westcotts ISWI LLP 47 Boulport Street Barnstaple Devon EX31 1SQ Date.. Pago 7
The Parochial Church Council of the Eccleslastical Parlsh of Ilfracombe Statement of Flnancial Activltles for the Year Ended 31 December 2024 Vnrestrlcted fund5 Restricted funds Total 2024 Total 2023 Note Income and Endowments from: DonatK)ns and legacies Charitable activities Investment inwme Other income 51,842 27,527 1,759 1,121 2,184 30 4,697 567 54,026 27,557 6,456 1,688 50,121 24,398 5,708 27,6S1 Total income 82,249 89.727 107,878 ExpÈnditure on: Charitable a¢tiMties 85,597 79,687 165,284 188,135 Total expenditure GainsAosses on investrnenl assets (85.597) {79,6871 1165,2841 188,13SI 1,600 2,738 4,336 15,166 Nel lexpendilureyin¢ome Gross transfers befven fijnds 11,7481 169.471) 171,219} 34,909 122,003 22,003 Net movement In funds 123.7511 147.4681 {71,2191 34,909 Reconciliation of funds Total funds brought forward 57,488 174,964 232,452 161,233 197,543 Totsl funds carried forward 18 33,737 127,496 232,452 AJI of the charty's activities dertve from continuing operations during the above two periods. The funds breakdown for 2023 15 shown In note 18. int The notes on pages 10 to 22 form apF ryal part of these financial stslements. age
Tho Parochlal Church Coun¢ll of tho EcclesiasU¢al Parfsh of Ilfracombo (Reglstration number." 1164990) Balance Sheet as at 31 December 2024 Flxed w•ts TaThJitlo assels Inveslm 13 14 347 146237 146,584 186,8gg 1B7,466 Currnnt $• Dobtors Cash At bank and In hand 16 16 46,918 47.938 50.943 51.003 Crodltorn: Amouth falllng du• wlthln on• y•ar 17 33.289 6,01 14,649 161.233 2Y2,452 Fund¥ ofth• chariiy. Rostrlct•d Incom• funds R98trfcted fvnd9 127,496 174,964 Unrestrl¢ted Incomèfund8 Unrestricted fuTrJs 33,737 161233 S7,488 232A52 Total fund5 1B Thg Ina al Ststernts on pages 8 kn 22 w8rn apprDved by thB tru8te¢s. autrK¥iJ for Issue on d signed on thelr b8haff iy. The rths on paw 10 to 22 fotrn aFint Fwt olth86e th)anci81 staiemanls. ag&
The Paro¢hlal Church Council of the Eccleslastical Parlsh of Ilfracombe Notes to the Flnancial Statements for the Year Ended 31 December 2024 1 Accounting policies Statement of complian The firianclal statements have been prepared in accordance with the second edltion of the Chaiilie8 statement of Re¢ommended Practice issued in October 2019. the Finanoial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis of preparation The Parochial Church Counryl of the Eccleslaslical Par18h of Ilfracombe meets the definitsjn of public benefit enuly under FRS 102. The accounts (financial slalemenlsl have been prepared undei Ihe historical cost convention wth items recognised at cKJst or transaction value unless otheiSe stated in the relevant nolelsl to these accounts. The finanual statements have been prep8red in 8terfing lCh is the functional cUencY of the charity. Summary of di$¢losure exemptions As the charity is dassed as a small oharity under FRS102 Cherty SORP. il has taken the exemption available from preparing a cashflow slalement.. Going ¢oncern The trustees conslder that there are no material uncertainties at#)ul the charill$ ability to continue 8S a going C£Jncern. Income and endowments Voluntary income induding donations, gifts, gacleS and grants that provide core fvnding or are of a general nature is recryJnised when the charity has entrtlement lo the income. 11 is Fble that Ihg income will be recelved and the amount can be measured with 8uffi¢ient reliabilty. Donations and legacles Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grants rn¢efvable Grants are recognised when the charity has an entiuement lo the funds and any cx)ndilions linked to the grants have been met. Where perfomiance conditions are attached to Ihe grant and are yet to be rnel, Ihe income is recognlsed as a liabilty and Included on Ihe balan sheet as deferred income to be released. Investment income Dividends are recogni8ed onoe the divbdend h8s been dedared and notification has been receNed of the dividend due. Page 10
The Parochlal Church Council of the Ecclesiastical Parish of Ilfracombe Notes to the Flnancial Statements for the Year Ended 31 December 2024 Icontlnued) Expènditure Al expenditure is renised On there is a legal or cA)rbslructive obligation to that expenditure. it 15 wobable setUement is required and the amount Can be measured relSably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs Cannot be direcdy attributed lo particular headings they have been allocated on a basis consistent with the use of resources, wth central staff costs allocated on the basis of lime spent. and deprecialion charges allocated on the portlon of the asset's use. Other support ¢osts are allo¢ated based on the spread of staff costs. Charltable actlvltles Charitable expendriure ¢ompri8e8 those costs incutTed by the Charity in the delivery of 115 activities and seryices for its benefiae8. It includes both costs that can be allocated direcuy to such actfvitie8 and those ¢o$ts of an indirect nature necessary lo support them. Support costs Support costs include central functions and have been allocated to activty cost categorfes on a basis consistent wth the use of resources. for example, alk)cating property costs by floor areas, or per capits. stsff costs by the time spent and other cust8 by their usage. Taxation The charity 15 considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 aThJ therefore (( meets the definition of a charitable company for UK corporalKJn tax purposes. Accordingly, the charity is w)tenlially exempl from taxation in respect of income or ¢apilal gains reiVed within categories covered by Chapter 3 Part 11 of thg Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. lo the extent that such income or gains are apled exclu$ively to charitable purposes. Tangible fixed assets Individual fixed assets are initially recoided al cosL less any 8ubsequent ocrJJmulated deprwat end subsequent actyjmulated impaimient losses. Depreciation and amortisatlon Depreciation is provided on tsngible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expeded useful economic Iwe as fc41ows'. Asset class Depreclatlon method and rate Fumilure and equipment 250k Straight Line Fixed a55et investments Fixed asset investments, other than programme related inveslmenls. are induded al market value al the balance sheet dale. Realised gains and 1088es on investments are (alculated as the diffeTence befven sales prweeds and Iheir market value al the start of the year. or their subsequent C051, and are charged or credited to the Stslement of Financial Activilles in Ihe period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or Charged to the Statement of Financlal Activf(ie8 based on the market value ?1 the year end. Page 11
The Parochlal Church Councll of the Ecclesiastlcal Parish of Ilfracombe Notes to the Flnanclal Statements for the Year Ended 31 December 2024 (continued) Cash and cash Èquivalents Cash and cash equivalents comprise c88h on hand and call deposits. and other short-lerm highly liquid investments that are readily nVertIble to a known amount of cash and are subject to an inslgnrficant rfsk of change in value. Fund structur• Unrestricted income fund¥ are gener81 funds that are available for use al the trusiees discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds sel aside for speafic purposes at the discretion of Ihe trustees. Restricted irKome funds are those donated for use in a particular area or for specific purposes, the use of which is reslricled lo that area or purpose. Financial instrnmgnts Classlllcation Financial assets and finanrAal liabilitie5 are recognised when the charty becomes a paty to the rxjntractual provisions of the Instrument. Financial liabilities and equity instruments are classified according lo the substance of the contractual airangemenls entered into. An equity instrument is any contract Ihal evidencts a residual interest in the assets of the charity after deducting all of its liabllities. Re¢ognition and measurement Al financial assets and liabilities are initially measured at transaction price linduding transaction coslsl, except for those financial assets classified as al fair value through profil or loss, which are initially measured at fair value (which normally the transaction price excluding transaction costs), unless the arrangement ennslilules a financing transaolion. If an artangemenl constitutes a financing transaction. the finan¢ial asset or financial liability is measured at the Present value of the future payments discounted al a market rate of interest for a similar debt instrurnenl. Finanaal assets and liabillties are only offset in the statement of financial potIOn when, and only when there exists a legally enfoable right to set off the recognl8ed amounts and the charity intends either to settle on a net basls, or to realise the asset and settle the liability simultarbeously. Financial assets are derecognised when and onty when a) the contractual rights to the cash IIow8 from the financial asset expire or ale setued, b) the charity transfers lo another paty substantially all of the risks and rewards of ownership of the financial asset, or G) the charity, de6Pite having ietained some. but not all. synrficanl risks and rewards of ownership, has transferred control of the asset to ar1her party. Financial liabilities are derecognised only when the obligation specffied in the contract 18 discharged. cancelled or expires. Investments Investments in non-nvertib1e preference shares and rn-pUttable ordinary or pference shares (where shares are publicly traded or their fair value 15 reliably measurable) are measured at fall Value through profit or loss. Where falr value cannot be measured reliably, investments are measured at cost less impaimienl. Page 12
The Parochlal Church Councll of the Ecclesiastlcal Parish of Ilfracombe Notes to the Financlal Statements for the Year Ended 31 December 2024 (continued) 2 Income from donations and legacies Unrostricted funds G¢neral Restricted funds Total 2024 Donations Grft ald reclalmed Grants 40.184 11,2D8 450 2.184 42.368 11,208 450 51.842 2,184 54.026 Unrestricted fund5 General Rostricted funds Tolal 2023 Donations Gift aid reclaimed Grants 41,250 8,050 138 683 41,933 8,050 138 49.438 683 50,121 Page 13
The Parochial Church Councll of the Ecclesiastical Parish of Ilfracombe Notes to the Flnanclal Statements for the Year Ended 31 December 2024 (contlnued 3 Incomg from charitable activities Unrostrl¢ted funds General Designated Restricted funds Total 2024 Hall hire PCC Statutory fees IWeddingslFunerais) Fundraising events Bar income Flower fvnd 17.236 17,236 1,302 8,421 1.302 8,521 468 30 100 27,427 100 30 27,557 Unre$tri¢ted funds General Designated Reslri¢led funds Total 2023 Hall hire pcc statutory fees (WeddingslFuneralsl Diocesan parochial fees Community lunches Fundraislrvj events Bar income Flower fLbnd 14,685 14.685 2,326 30 21 6,148 1,064 2,326 84 105 6,148 1,064 40 24,274 40 24,398 4 Investment income Unrestricted funds G•nefal Restricted funds Tolal 2024 Bank interest Inveslmenl inoome 648 1,111 1,029 3.668 4,697 1,677 4,TT9 6,456 1,759 Unrestricted funds General Restrlcted funds Total 2023 Bank interest Investment income 1,129 4,434 1,129 4,579 5,708 145 145 5,563 Page 14
The Parochial Church Council of the Ecclesiastlcal Parish of Ilfracombe Notes to the Financlal Statements for the Year Ended 31 December 2024 (contlnued) 5 Other income Unrestricted funds General Restricted lunds Total 2024 LPW grant scheme VAT reclaimed Miscell8neou8 income 567 567 1,121 1,121 1.121 567 1.688 Unrestricted funds Deslgnated General Restricted funds Total 2023 Insurance claim Miscellaneous income 12,456 1,155 13,611 13.440 25,896 1.755 600 600 13,440 27,651 6 Expenditurè on charitable actlvltieg Unrestricted funds General Designated Restricted funds Total 2024 Nol• Charitable activibes Allocated support ca)sts 44,211 467 44,678 40,711 84,922 675 79,220 79.687 120.606 675 165,284 Unrestricted funds General Designated Re5tri¢ted funds Total 2023 Note Charitable activities Allocated support costs 41,661 31 3,303 44,995 37.913 400 4.827 43.140 79,574 431 8,130 88,135 Page 15
The Parochlal Church Councll of the Ecclesiastical Parlsh of Ilfracombe Notes to the Financlal Statements for the Year Ended 31 December 2024 <contlnued) 7 Analysis of charltsble activilies expenditure Charitable activities expènditu Unrestricted funds General Re5trithd funds Total 2024 Clergy expenses Common fund Choir expenses Mission arKI outreach expenses Website Bar expenses Fundraising expenses Charitable donations 242 38.957 460 983 214 550 242 38,957 927 983 214 550 867 1,938 44,678 467 1,938 44.211 467 Unrestricted funds Ggt)eral Designated Restricted funds Total 2023 Clergy expenses Common fund Cholr expenses Youth worker Mission and outreach expenses Website Bar expenses Fundraising expenses 1.126 36.882 127 1,126 36,882 3,430 261 3.303 31 925 14 1,234 1,123 925 14 1.234 1,123 44.995 41,661 31 3.303 Page 16
The Parochlal Church Council of the Ecclesiastlcal Parish of Ilfracombe Notes to the Financlal Statements for the Year Ended 31 December 2024 (continued) 8 Analysi5 of support costs Unrestricted funds Designated General Rgstricted funds Total 2024 General office Finance costs Maintenance and ulilityés UpkÈep of services and insurance Depreciation Miscellaneous expenditure Independent Examiners 1,185 35 23,536 1,185 35 97,674 675 73,463 14.648 220 5.757 20,405 220 547 547 540 540 675 40,711 79.220 120,606 Unrestrlcted funds General Designated Restricted funds Total 2023 General office Finance costs Maintenance and utilities Upkeep of services and insurance Depreciation Miscellaneous expenditure LPW grant scheme VAT adluslment 922 32 24.227 922 32 24.227 11.825 189 2,545 14,370 189 718 400 1,118 2,282 4,827 2.282 37,913 400 43,140 9 Net in¢omingloutgoing resources Net loulgoingyincomlng resources for the year include: 2024 2023 Depreciation 220 189 Page 17
The Parochlal Church Councll of the Eccleslastlcal Parish of Ilfracombe Notes to the Flnancial Statements for the Year Ended 31 December 2024 (continued) 10 Trusteès remuneration and expens No trustees, nor any persons connected wth them, have receiwj any remuneration from the charity during the year. No trustees have re(£ived any reImbUed expenses or any other beneffts from the (*arity during the ear. 11 Independent examiner's remuneration 2024 Examinati( of the financial statements 540 12 Ta1110 The charity is a registered charity and is therefore exemptfrom iaxalK)n. 13 Tanglble fixed assets Furniture and equlpment Tolal Cost At 1 January 2024 879 879 At 31 December 2024 879 879 Deprecialion At 1 January 2024 Charge for the year Al 31 Oecember 2024 312 220 312 220 532 532 Net book value Al 31 December 2024 347 347 Al 31 December 2023 567 567 Page 18
The Parochlal Church Councll of the Ecclesiastical Parish of Ilfracombe Notes to the Flnanclal Statements for the Year Ended 31 December 2024 (continued) 14 Fixed asset investments Listed investments Total Cost or Valuation At l January 2024 Revaluation Disposals Al 31 December 2024 186,899 4,338 {45,000 146,237 186,899 4,338 145,0001 146.237 Net book value At 31 Dember 2024 146,237 146.237 At 31 December 2023 186,899 186.899 15 Debtors 2024 2023 Trade debtors 1,020 16 Cash and cash gquivalents 2024 2023 Cash at bank 46.918 50,943 17 cr0dito. amounts falling due within one year 2024 2023 Trade creditors A¢¢ruals 32.749 540 6,017 33,289 6.017 Page 19
The Parochlal Church Councll of the Eccleslastical Parlsh of Ilfracombe Notes to the Flnancial Statements for the Year Ended 31 December 2024 (contlnued) 18 Funds Balanco Gain Balance at1 Ilosse$l a131 January Incoming R•souTces on December 2024 resources pended Transfèrs investm•nts 2024 Unrestricted funds General General Funds General Building Funds 55,572 514 82,149 184,9221 (22,378) 1,600 32,021 514 56.086 84.922 1,600 32,535 Dgslgnated Monuments Community Lunches Heli FurKI 38 1.164 200 38 1,164 675 375 1,402 675 375 1,202 Total unrestrlcted funds 57,488 82.249 22,003 1.600 33,737 Restricled funds Churchyard Fund Upkeep of Trinity Rooms (Parish Hall) Fund Encouiaging Mijsic in the Parish Fund Support of Youth Work Fund Vicars ExpensÈs & Outgoing Fund Maintenan¢e of the Cholr Fund Building Project Fund Flowers Fund Maintenance of St Pelerfs Organ Fund Charities Fund Agency Collections Investment Fund Holy Trinity Repair Fund st Peters Repair Fund M Nicholson grave LSpkeep 3,301 3,301 7,S07 7,507 29.330 1,304 16,1071 1,439 25.966 5,595 5,595 17,057 17,057 1,677 98,276 1.677 51.067 4,955 64 (73.4631 20,0 (1171 1.299 661 793 543 836 5,385 4.003 661 543 836 6,385 6,103 50 1,100 950 1,000 174,964 79,687 7 478 22.003 Page 20 2,738 127.496
The Parochlal Church Council of the Ecclesiastical Parlsh of Ilfracombe Notes to the Financlal Statements for the Year Ended 31 December 2024 (contlnued) Balance Galnsl Balance at1 (losses) at31 January Incomlng Resources on Dmber 2024 resources exnded Transfers investments 2024 Total fundg 232,452 89.727 165,284 4,338 161,233 Balance at1 January IncomingResources 2023 resources exponded Transfers Other Balance recognised at31 gain51 DKember IIos5es) 2023 Unweslricted funds General General Funds General Building FurKIs 45,149 514 87.468 {79,574) 12.309) 4,838 55,572 514 45,663 79,574 2,309 87,468 1 4,838 56,086 Designated Funerals (Exeterl Wedding IExeterl Monuments Community Lunches Heli Fund (1,835) (4001 38 1.111 1,835 4tsJ 38 1,164 200 84 131) 400 1,086 431 2.235 1,402 Total uniestricted funds 44,577 88.152 180,005 74 4,838 57,488 Restricted funds Chur¢hy8rd Fund Upkeep of Trinity Rooms (Parish Hall) Fund Encouraging Music in the Parish Fund Support of Youth Work Fund Vicais Expenses & Outgoing Fund maintenan of the Choir Fund Building Project Fund owers Fund Maintenance of St Pelerfs Organ Fund Charities Fund Agency Collections Inve5trnenl Fund Holy Trinity Repair Fund 3,193 108 3,301 7.507 7,507 27,926 5.421 1.719 174 15,7231 5,408 29,330 5,595 17,057 17,057 1,622 78,611 55 17,027 1,677 98,276 12.2821 (125} 4,920 74 641 793 543 836 5,385 20 661 793 543 836 5.385 Page 21
The Parochlal Church Council of the Ecclesiastlcal Parlsh of Ilfracombe Notes to the FinancSal Statements for the Year Ended 31 December 2024 (contlnued) Balance at1 January IncomlngResources 2023 resources expended Transfers other 8alance recognised at31 g•insl Decembèr {los$es 2023 Sl Peters Repair Fund 3,425 578 4,Q03 10,328 174.964 152.966 19.726 8,130 74 Totsl fund$ 197.543 107,878 88.135 15,166 232,452 19 Analy51$ of net assots between funds Total funds a131 Decembgr 2024 Unrestricted funds General Restrlcted funds Tangible fixed assels Fixed asset investments Current assets Current liabiif(ies 347 23,851 42.828 33.289 347 146,237 47.938 133.289) 161.233 122,386 5.110 Totsl net asset8 33.737 127.496 Total funds at31 December 2023 Unrestricted funds General Restricted fvnds Tanglble fixed assets Fixed asset investments Current assets Current liabilities 567 67,251 18,306 6,017 80,107 567 186,899 51.003 6.017 119,648 32,697 Total net assets 152,345 232,452 20 Related party transactlons There were no related party transactions in the year. Page 22